Form NPORT-P GOLDMAN SACHS TRUST For: Dec 31

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February 25, 2021 2:04 PM EST

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      GOLDMAN SACHS TRUST
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      71  SOUTH WACKER DRIVE
      C/O GOLDMAN SACHS & CO
      CHICAGO
      
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      312-655-4400
      Goldman Sachs Short Duration Government Fund
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      2021-03-31
      2020-12-31
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      1416171577.75
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        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31292K2X4
        
          
        
        5344.03000000
        PA
        USD
        5974.93000000
        0.000557356861
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2040-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
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        United States Treasury
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        United States Treasury Note/Bond
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        630000.00000000
        PA
        USD
        662533.60000000
        0.061802840860
        Long
        DBT
        UST
        US
        N
        
        1
        
          2026-08-31
          Fixed
          1.38000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae II Pool
        36225DJ47
        
          
        
        237493.38000000
        PA
        USD
        244236.53000000
        0.022783012659
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2034-12-20
          Floating
          3.13000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3132GEK58
        
          
        
        2404.00000000
        PA
        USD
        2687.37000000
        0.000250684796
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-06-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Chicago Board of Trade
        549300EX04Q2QBFQTQ27
        US LONG BOND(CBT) MAR21 XCBT 20210322
        000000000
        
          
        
        -358.00000000
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        1
        
          
            
              Chicago Board of Trade
              549300EX04Q2QBFQTQ27
            
            Short
            
              
                US Treasury Long Bond
                USH1 Comdty
              
            
            2021-03-22
            -62541542.61000000
            USD
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          N
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          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        912810SE9
        
          
        
        1400000.00000000
        PA
        USD
        1965250.00000000
        0.183323582383
        Long
        DBT
        UST
        US
        N
        
        1
        
          2048-11-15
          Fixed
          3.38000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36211SEE3
        
          
        
        2190.22000000
        PA
        USD
        2600.51000000
        0.000242582271
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2035-05-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Non Gold Pool
        3128QGHZ8
        
          
        
        13666.05000000
        PA
        USD
        14357.56000000
        0.001339310181
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2036-10-01
          Floating
          2.43000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294R3R8
        
          
        
        982.52000000
        PA
        USD
        1159.20000000
        0.000108133162
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31411DUK3
        
          
        
        85209.21000000
        PA
        USD
        90207.99000000
        0.008414833678
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2036-11-01
          Floating
          2.40000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36291Q5N0
        
          
        
        8223.66000000
        PA
        USD
        9764.17000000
        0.000910826929
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-02-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296XML6
        
          
        
        2196.84000000
        PA
        USD
        2483.19000000
        0.000231638359
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2034-04-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36200GES1
        
          
        
        7299.32000000
        PA
        USD
        8677.57000000
        0.000809466082
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-04-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36290VMA9
        
          
        
        19715.64000000
        PA
        USD
        23261.06000000
        0.002169851596
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-12-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31297QBW8
        
          
        
        2171.20000000
        PA
        USD
        2431.65000000
        0.000226830575
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-04-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312933AL8
        
          
        
        3716.16000000
        PA
        USD
        4159.38000000
        0.000387997680
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-05-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296NBY2
        
          
        
        85869.21000000
        PA
        USD
        97040.27000000
        0.009052166356
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        N/A
        Fannie Mae REMICS
        31396VGA0
        
          
        
        235179.83000000
        PA
        USD
        236295.55000000
        0.022042257589
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2037-04-25
          Floating
          0.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36291YKE6
        
          
        
        5470.60000000
        PA
        USD
        6444.10000000
        0.000601122247
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296NBH9
        
          
        
        77746.00000000
        PA
        USD
        87860.28000000
        0.008195833242
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-10-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        FDIC STRUCTURED SALE GUARANTEED NOTES
        N/A
        FDIC Guaranteed Notes Trust 2010-S1
        30250GAB4
        
          
        
        680694.55000000
        PA
        USD
        673063.22000000
        0.062785070938
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2038-04-25
          Fixed
          3.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312940XF1
        
          
        
        33280.73000000
        PA
        USD
        37209.77000000
        0.003471023196
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2040-06-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294RPC7
        
          
        
        1455.65000000
        PA
        USD
        1714.12000000
        0.000159897529
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128M6NW4
        
          
        
        3673.04000000
        PA
        USD
        4113.64000000
        0.000383730935
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2038-06-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296MXM6
        
          
        
        2393.79000000
        PA
        USD
        2705.18000000
        0.000252346158
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312933G65
        
          
        
        10795.59000000
        PA
        USD
        12083.16000000
        0.001127148290
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-05-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296NA80
        
          
        
        56946.26000000
        PA
        USD
        64354.62000000
        0.006003164727
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-10-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296MDN6
        
          
        
        72925.69000000
        PA
        USD
        82412.87000000
        0.007687684804
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294RR35
        
          
        
        11213.95000000
        PA
        USD
        13347.67000000
        0.001245105040
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296K7C1
        
          
        
        1637.08000000
        PA
        USD
        1850.05000000
        0.000172577429
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312931AH1
        
          
        
        9771.26000000
        PA
        USD
        10936.40000000
        0.001020175563
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-03-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128MMH48
        
          
        
        371.26000000
        PA
        USD
        383.01000000
        0.000035728159
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2023-05-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36212NPF8
        
          
        
        7353.27000000
        PA
        USD
        8711.85000000
        0.000812663809
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2035-05-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128MJQD5
        
          
        
        8655.86000000
        PA
        USD
        9676.16000000
        0.000902617130
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-06-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3132GDS86
        
          
        
        34362.79000000
        PA
        USD
        38413.25000000
        0.003583286910
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-05-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3129356C8
        
          
        
        27888.06000000
        PA
        USD
        31214.21000000
        0.002911741915
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36296GNX5
        
          
        
        13916.01000000
        PA
        USD
        16508.40000000
        0.001539946076
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2038-05-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31292K2K2
        
          
        
        2066.09000000
        PA
        USD
        2310.01000000
        0.000215483683
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2040-06-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36209GR58
        
          
        
        2572.28000000
        PA
        USD
        2904.68000000
        0.000270956032
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2032-02-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294T2L8
        
          
        
        5968.77000000
        PA
        USD
        7023.96000000
        0.000655213082
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-10-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36213CTP5
        
          
        
        7403.48000000
        PA
        USD
        8782.84000000
        0.000819285939
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2035-07-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296JYW0
        
          
        
        3325.10000000
        PA
        USD
        3757.68000000
        0.000350526069
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-07-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        N/A
        Fannie Mae REMICS
        3136A9EA2
        
          
        
        261395.64000000
        PA
        USD
        321552.50000000
        0.029995245502
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2042-10-25
          Fixed
          7.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36290TRL5
        
          
        
        8655.10000000
        PA
        USD
        10263.21000000
        0.000957378666
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-05-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3132GD5K4
        
          
        
        16248.32000000
        PA
        USD
        18163.14000000
        0.001694304486
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-05-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294TZ24
        
          
        
        4651.12000000
        PA
        USD
        5480.56000000
        0.000511240754
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        912828L57
        
          
        
        46570000.00000000
        PA
        USD
        47881600.27000000
        4.466519013749
        Long
        DBT
        UST
        US
        N
        
        1
        
          2022-09-30
          Fixed
          1.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312930WL0
        
          
        
        415.11000000
        PA
        USD
        464.77000000
        0.000043354942
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-01-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312943DQ3
        
          
        
        6997.03000000
        PA
        USD
        7823.08000000
        0.000729757054
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2040-10-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31401MKT7
        
          
        
        352180.20000000
        PA
        USD
        370408.34000000
        0.034552644108
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-05-01
          Floating
          3.08000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36200GFH4
        
          
        
        2528.77000000
        PA
        USD
        2989.22000000
        0.000278842141
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-06-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294QAV3
        
          
        
        12043.61000000
        PA
        USD
        12885.08000000
        0.001201953453
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3132GDQH8
        
          
        
        28071.83000000
        PA
        USD
        31380.02000000
        0.002927209098
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-04-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294TAS4
        
          
        
        3190.94000000
        PA
        USD
        3771.96000000
        0.000351858145
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312933DC5
        
          
        
        15500.03000000
        PA
        USD
        17348.69000000
        0.001618330492
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-05-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296NEH6
        
          
        
        4666.83000000
        PA
        USD
        5273.96000000
        0.000491968574
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294P7B3
        
          
        
        10327.91000000
        PA
        USD
        11794.04000000
        0.001100178432
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312938S46
        
          
        
        10873.19000000
        PA
        USD
        12170.01000000
        0.001135249882
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2040-01-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36292N6W5
        
          
        
        46594.47000000
        PA
        USD
        55569.60000000
        0.005183675432
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-07-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae II Pool
        36179UZS4
        
          
        
        2639289.22000000
        PA
        USD
        2764249.80000000
        0.257856341910
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2049-09-20
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312935H85
        
          
        
        2859.61000000
        PA
        USD
        3200.67000000
        0.000298566742
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae
        21H020626
        
          
        
        16000000.00000000
        PA
        USD
        16710401.60000000
        1.558789306391
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2051-02-20
          Fixed
          2.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312934BJ0
        
          
        
        9997.58000000
        PA
        USD
        11189.71000000
        0.001043804972
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-07-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36290TY52
        
          
        
        20901.79000000
        PA
        USD
        24660.52000000
        0.002300396829
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-12-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36290TTM1
        
          
        
        3045.51000000
        PA
        USD
        3632.14000000
        0.000338815375
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-07-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        9128285P1
        
          
        
        380000.00000000
        PA
        USD
        409895.31000000
        0.038236090386
        Long
        DBT
        UST
        US
        N
        
        1
        
          2023-11-30
          Fixed
          2.88000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294NA99
        
          
        
        47832.58000000
        PA
        USD
        57544.80000000
        0.005367927176
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296LHJ3
        
          
        
        4528.93000000
        PA
        USD
        5117.94000000
        0.000477414626
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296NBT3
        
          
        
        34147.91000000
        PA
        USD
        38590.34000000
        0.003599806321
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294SUR6
        
          
        
        2458.45000000
        PA
        USD
        2887.66000000
        0.000269368363
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312934DE9
        
          
        
        1346.45000000
        PA
        USD
        1507.04000000
        0.000140580573
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-07-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac REMICS
        31398CY93
        
          
        
        1089610.38000000
        PA
        USD
        1133860.98000000
        0.105769472982
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2024-05-15
          Fixed
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312933G73
        
          
        
        5825.42000000
        PA
        USD
        6520.21000000
        0.000608221984
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-05-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36200GF43
        
          
        
        4065.34000000
        PA
        USD
        4790.32000000
        0.000446853389
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312932SU1
        
          
        
        997.06000000
        PA
        USD
        1115.98000000
        0.000104101489
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-04-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294TBD6
        
          
        
        2946.47000000
        PA
        USD
        3473.04000000
        0.000323974117
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-10-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296NJC2
        
          
        
        5630.87000000
        PA
        USD
        6363.56000000
        0.000593609269
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        912810RU4
        
          
        
        200000.00000000
        PA
        USD
        255406.25000000
        0.023824952913
        Long
        DBT
        UST
        US
        N
        
        1
        
          2046-11-15
          Fixed
          2.88000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294ST49
        
          
        
        27833.44000000
        PA
        USD
        32928.09000000
        0.003071617056
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36296RE37
        
          
        
        44828.02000000
        PA
        USD
        53170.15000000
        0.004959848555
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2038-11-15
          Fixed
          6.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        UMBS, TBA
        N/A
        Uniform Mortgage-Backed Security, TBA
        01F042616
        
          
        
        16000000.00000000
        PA
        USD
        17340000.00000000
        1.617519866957
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2051-01-15
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294TYS8
        
          
        
        15980.66000000
        PA
        USD
        18734.10000000
        0.001747565106
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294TYJ8
        
          
        
        3503.00000000
        PA
        USD
        4177.76000000
        0.000389712214
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128M7PU4
        
          
        
        3895.92000000
        PA
        USD
        4360.58000000
        0.000406766135
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-07-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296NB22
        
          
        
        102870.32000000
        PA
        USD
        116253.12000000
        0.010844390495
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36290TUC1
        
          
        
        8248.50000000
        PA
        USD
        9415.93000000
        0.000878342205
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36201XQK7
        
          
        
        6964.61000000
        PA
        USD
        8279.66000000
        0.000772348012
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-04-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        FREDDIE MAC
        S6XOOCT0IEG5ABCC6L87
        Federal Home Loan Mortgage Corp
        3137EAEX3
        
          
        
        17820000.00000000
        PA
        USD
        17789171.40000000
        1.659419732191
        Long
        DBT
        USGSE
        US
        N
        
        2
        
          2025-09-23
          Fixed
          0.38000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36290UKK1
        
          
        
        9379.56000000
        PA
        USD
        11086.45000000
        0.001034172614
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2037-11-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        912810SL3
        
          
        
        780000.00000000
        PA
        USD
        846787.50000000
        0.078990519281
        Long
        DBT
        UST
        US
        N
        
        1
        
          2050-02-15
          Fixed
          2.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128L9LZ4
        
          
        
        1143.64000000
        PA
        USD
        1280.44000000
        0.000119442741
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2038-04-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        9128284L1
        
          
        
        350000.00000000
        PA
        USD
        371136.72000000
        0.034620589270
        Long
        DBT
        UST
        US
        N
        
        1
        
          2023-04-30
          Fixed
          2.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36200JM56
        
          
        
        827.97000000
        PA
        USD
        981.38000000
        0.000091545654
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-03-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294T4V4
        
          
        
        2960.79000000
        PA
        USD
        3344.28000000
        0.000311963053
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-11-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312933ED2
        
          
        
        1467.79000000
        PA
        USD
        1642.85000000
        0.000153249279
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-06-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36292MDL3
        
          
        
        4910.10000000
        PA
        USD
        5839.62000000
        0.000544734796
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128M8GK4
        
          
        
        1570.47000000
        PA
        USD
        1758.90000000
        0.000164074722
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2038-06-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        3620C4RV4
        
          
        
        2802.13000000
        PA
        USD
        3262.17000000
        0.000304303620
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2039-01-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296MZR3
        
          
        
        14825.59000000
        PA
        USD
        16753.73000000
        0.001562831091
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312933R63
        
          
        
        4311.79000000
        PA
        USD
        4826.05000000
        0.000450186375
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-06-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294T3P8
        
          
        
        24488.19000000
        PA
        USD
        29112.01000000
        0.002715643283
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-10-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        3140X6QH7
        
          
        
        540957.40000000
        PA
        USD
        598397.07000000
        0.055820020129
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2049-12-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128MJMW7
        
          
        
        4600.68000000
        PA
        USD
        5149.39000000
        0.000480348363
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-11-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        TENN VALLEY AUTHORITY
        549300HE1ISW43LNKM54
        Tennessee Valley Authority
        880591EW8
        
          
        
        49850000.00000000
        PA
        USD
        50561858.00000000
        4.716540359011
        Long
        DBT
        USGA
        US
        N
        
        2
        
          2025-05-15
          Fixed
          0.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36200NGB1
        
          
        
        3396.66000000
        PA
        USD
        4041.32000000
        0.000376984739
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-02-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294QAG6
        
          
        
        621.01000000
        PA
        USD
        731.76000000
        0.000068260457
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-07-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31417NRH6
        
          
        
        7244.65000000
        PA
        USD
        8142.77000000
        0.000759578560
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36200JJA9
        
          
        
        2585.29000000
        PA
        USD
        3074.70000000
        0.000286815936
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2035-11-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294SC96
        
          
        
        73523.31000000
        PA
        USD
        87441.82000000
        0.008156798215
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312942N35
        
          
        
        4348.86000000
        PA
        USD
        4862.16000000
        0.000453554809
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2040-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296K5G4
        
          
        
        10093.37000000
        PA
        USD
        11406.46000000
        0.001064023971
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36202S4V7
        
          
        
        8655.91000000
        PA
        USD
        10273.02000000
        0.000958293768
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36291YLN5
        
          
        
        706.19000000
        PA
        USD
        833.18000000
        0.000077721176
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296M3H0
        
          
        
        7722.24000000
        PA
        USD
        8726.86000000
        0.000814063980
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        912828ZX1
        
          
        
        28110000.00000000
        PA
        USD
        28113294.21000000
        2.622480502323
        Long
        DBT
        UST
        US
        N
        
        1
        
          2022-06-30
          Fixed
          0.13000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36212TBB9
        
          
        
        2683.10000000
        PA
        USD
        3149.90000000
        0.000293830785
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2035-06-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294NEZ7
        
          
        
        4008.59000000
        PA
        USD
        4769.39000000
        0.000444900984
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-10-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36290TTL3
        
          
        
        27533.06000000
        PA
        USD
        32484.71000000
        0.003030257427
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-07-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36290TX79
        
          
        
        7212.60000000
        PA
        USD
        8504.28000000
        0.000793301144
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-11-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        UMBS, TBA
        N/A
        Uniform Mortgage-Backed Security, TBA
        01F040610
        
          
        
        7000000.00000000
        PA
        USD
        7475234.20000000
        0.697309101998
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2051-01-15
          Fixed
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36295ERY5
        
          
        
        17762.73000000
        PA
        USD
        20950.41000000
        0.001954308211
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2037-04-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294PE58
        
          
        
        13080.22000000
        PA
        USD
        15587.62000000
        0.001454053346
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-06-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31406C6V5
        
          
        
        389965.89000000
        PA
        USD
        419925.10000000
        0.039171695033
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-08-01
          Floating
          4.60000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128L9C35
        
          
        
        274.26000000
        PA
        USD
        307.07000000
        0.000028644280
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2038-04-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296MY52
        
          
        
        10372.98000000
        PA
        USD
        11722.44000000
        0.001093499399
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        LCH Limited
        F226TOH6YD6XJB17KS62
        Long: BR213187  IRS USD R V 03MLIBOR US0003M CCP LCH / Short: BR213187  IRS USD P V 01MLIBOR US0001M+9BPS CCP LCH
        000000000
        
          
        
        15560000.00000000
        OU
        Notional Amount
        USD
        -5223.49000000
        -0.00048726060
        N/A
        DIR
        
        US
        N
        
        2
        
          
            
              LCH Limited
              F226TOH6YD6XJB17KS62
            
            
              
                N/A
                N/A
                
                  
                
              
            
            Y
            
              
                
              
            
            
              
                
              
            
            2024-07-25
            5085.60000000
            USD
            0.00000000
            USD
            15560000.00000000
            USD
            -10309.09000000
          
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128M73B0
        
          
        
        3890.32000000
        PA
        USD
        4354.31000000
        0.000406181253
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2040-04-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36291NU33
        
          
        
        4642.31000000
        PA
        USD
        5466.62000000
        0.000509940395
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-02-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296MQX0
        
          
        
        16209.39000000
        PA
        USD
        18318.56000000
        0.001708802464
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36290TX61
        
          
        
        6765.14000000
        PA
        USD
        7721.43000000
        0.000720274880
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-11-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294NMF2
        
          
        
        2567.09000000
        PA
        USD
        3020.91000000
        0.000281798266
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        3138AU5H6
        
          
        
        108149.14000000
        PA
        USD
        120885.98000000
        0.011276555610
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-10-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312941DF1
        
          
        
        7458.66000000
        PA
        USD
        8339.21000000
        0.000777902990
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2040-07-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac REMICS
        3137B66C0
        
          
        
        716637.48000000
        PA
        USD
        865513.47000000
        0.080737326000
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2043-11-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31401K5T8
        
          
        
        136121.76000000
        PA
        USD
        142912.71000000
        0.013331265724
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2034-05-01
          Floating
          2.57000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36292N7M6
        
          
        
        16959.90000000
        PA
        USD
        20211.01000000
        0.001885335075
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36295HRG7
        
          
        
        59449.96000000
        PA
        USD
        70806.76000000
        0.006605036967
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2037-10-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        9128286H8
        
          
        
        51710000.00000000
        PA
        USD
        53101726.04000000
        4.953465792353
        Long
        DBT
        UST
        US
        N
        
        1
        
          2022-03-15
          Fixed
          2.38000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31410GC35
        
          
        
        86859.75000000
        PA
        USD
        90459.83000000
        0.008438325962
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-05-01
          Floating
          3.29000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128M4XL2
        
          
        
        2258.41000000
        PA
        USD
        2529.38000000
        0.000235947081
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3132GFCQ8
        
          
        
        3922.95000000
        PA
        USD
        4385.36000000
        0.000409077677
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-07-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312933QN7
        
          
        
        213365.19000000
        PA
        USD
        238812.81000000
        0.022277074086
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-06-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36292L7E8
        
          
        
        8925.74000000
        PA
        USD
        10615.45000000
        0.000990236520
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-06-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36290TTJ8
        
          
        
        37675.49000000
        PA
        USD
        44335.97000000
        0.004135773488
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-07-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294TYU3
        
          
        
        19132.32000000
        PA
        USD
        22735.66000000
        0.002120840930
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31410AKW5
        
          
        
        590536.32000000
        PA
        USD
        614070.02000000
        0.057282033278
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2036-07-01
          Floating
          3.06000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36291USQ9
        
          
        
        17061.48000000
        PA
        USD
        20315.98000000
        0.001895126947
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2037-02-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31292LHG3
        
          
        
        27857.65000000
        PA
        USD
        31141.33000000
        0.002904943480
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2042-03-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294TY74
        
          
        
        4018.60000000
        PA
        USD
        4754.67000000
        0.000443527865
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3132GEJ27
        
          
        
        31146.23000000
        PA
        USD
        34817.55000000
        0.003247870752
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-06-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae
        21H022614
        
          
        
        71000000.00000000
        PA
        USD
        75167487.00000000
        7.011816814979
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2051-01-21
          Fixed
          2.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296MBT5
        
          
        
        12497.11000000
        PA
        USD
        14122.91000000
        0.001317421424
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31409BB30
        
          
        
        331127.46000000
        PA
        USD
        346838.63000000
        0.032354000845
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2036-03-01
          Floating
          3.71000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128M7UU8
        
          
        
        4417.82000000
        PA
        USD
        4944.72000000
        0.000461256218
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-11-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128MJLL2
        
          
        
        744.33000000
        PA
        USD
        833.10000000
        0.000077713714
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-01-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128M6T73
        
          
        
        84439.83000000
        PA
        USD
        94571.09000000
        0.008821834885
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2038-01-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31416BY51
        
          
        
        39186.88000000
        PA
        USD
        40580.44000000
        0.003785447976
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2023-10-01
          Fixed
          5.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36201CL51
        
          
        
        1188.30000000
        PA
        USD
        1295.77000000
        0.000120872763
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2032-01-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36291Q3N2
        
          
        
        3425.28000000
        PA
        USD
        4072.04000000
        0.000379850380
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2035-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296NBX4
        
          
        
        87767.56000000
        PA
        USD
        99185.58000000
        0.009252286399
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3132GDBF8
        
          
        
        2587.75000000
        PA
        USD
        2892.78000000
        0.000269845970
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-04-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294TZP3
        
          
        
        5439.70000000
        PA
        USD
        6395.97000000
        0.000596632557
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296MY45
        
          
        
        7541.42000000
        PA
        USD
        8522.51000000
        0.000795001686
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294T4N2
        
          
        
        27079.33000000
        PA
        USD
        32538.25000000
        0.003035251776
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-11-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31390N3Z3
        
          
        
        27725.22000000
        PA
        USD
        28992.27000000
        0.002704473628
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2032-07-01
          Floating
          2.38000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128LBBM9
        
          
        
        472.41000000
        PA
        USD
        528.92000000
        0.000049339020
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2038-05-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31371LDQ9
        
          
        
        365602.86000000
        PA
        USD
        403170.59000000
        0.037608791182
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2023-10-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312945SX7
        
          
        
        7121.04000000
        PA
        USD
        7961.73000000
        0.000742690683
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-02-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128M7L46
        
          
        
        51760.15000000
        PA
        USD
        57933.47000000
        0.005404183315
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-05-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31411GK50
        
          
        
        3815.51000000
        PA
        USD
        4052.56000000
        0.000378033235
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2046-12-01
          Floating
          2.32000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae II Pool
        36225DC85
        
          
        
        219000.70000000
        PA
        USD
        225304.42000000
        0.021016976670
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2034-07-20
          Floating
          2.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36201EMY3
        
          
        
        3348.78000000
        PA
        USD
        3729.89000000
        0.000347933747
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2032-02-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296MFH7
        
          
        
        14990.86000000
        PA
        USD
        16941.08000000
        0.001580307581
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128MJM64
        
          
        
        3280.28000000
        PA
        USD
        3671.51000000
        0.000342487910
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-12-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294N7E2
        
          
        
        16972.95000000
        PA
        USD
        19973.52000000
        0.001863181396
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-11-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae
        21H050615
        
          
        
        9000000.00000000
        PA
        USD
        9817030.80000000
        0.915757921195
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2051-01-21
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296MMR7
        
          
        
        22341.21000000
        PA
        USD
        25247.66000000
        0.002355166761
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31403YV83
        
          
        
        321932.48000000
        PA
        USD
        337675.98000000
        0.031499285250
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2034-05-01
          Floating
          3.55000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294PND1
        
          
        
        1475.48000000
        PA
        USD
        1739.72000000
        0.000162285563
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac REMICS
        3137B4PT7
        
          
        
        80884.75000000
        PA
        USD
        95883.34000000
        0.008944244945
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2036-02-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312945ZL5
        
          
        
        2534.62000000
        PA
        USD
        2833.38000000
        0.000264304985
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-02-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36292LC77
        
          
        
        3830.26000000
        PA
        USD
        4562.70000000
        0.000425620409
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-04-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312941M53
        
          
        
        2309.22000000
        PA
        USD
        2581.84000000
        0.000240840685
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2040-07-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        912810RP5
        
          
        
        10000.00000000
        PA
        USD
        13004.69000000
        0.001213110982
        Long
        DBT
        UST
        US
        N
        
        1
        
          2045-11-15
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36212USJ1
        
          
        
        1794.97000000
        PA
        USD
        2112.29000000
        0.000197039852
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-03-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36291YF36
        
          
        
        1322.18000000
        PA
        USD
        1512.12000000
        0.000141054448
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-04-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        3140JUNM2
        
          
        
        344910.92000000
        PA
        USD
        382839.42000000
        0.035712247272
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2049-06-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128M9C91
        
          
        
        280681.72000000
        PA
        USD
        313818.28000000
        0.029273777538
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        9128286C9
        
          
        
        71350000.00000000
        PA
        USD
        73242447.44000000
        6.832244166018
        Long
        DBT
        UST
        US
        N
        
        1
        
          2022-02-15
          Fixed
          2.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31418DLG5
        
          
        
        2785003.87000000
        PA
        USD
        3076368.19000000
        0.286971549331
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2050-01-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294RFC8
        
          
        
        11377.06000000
        PA
        USD
        13552.63000000
        0.001264224237
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-10-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Chicago Board of Trade
        549300EX04Q2QBFQTQ27
        US 10YR NOTE (CBT)MAR21 XCBT 20210322
        000000000
        
          
        
        -234.00000000
        NC
        USD
        -39612.62000000
        -0.00369516723
        N/A
        DIR
        
        US
        N
        
        1
        
          
            
              Chicago Board of Trade
              549300EX04Q2QBFQTQ27
            
            Short
            
              
                10 Year US Treasury Note
                TYH1 Comdty
              
            
            2021-03-22
            -32259699.88000000
            USD
            -39612.62000000
          
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128M8A20
        
          
        
        3138.98000000
        PA
        USD
        3509.56000000
        0.000327380797
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2040-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294PDV2
        
          
        
        1513.78000000
        PA
        USD
        1784.31000000
        0.000166445033
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-06-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae II Pool
        36225DEM2
        
          
        
        198242.51000000
        PA
        USD
        203973.30000000
        0.019027154848
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2034-08-20
          Floating
          2.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296MTL3
        
          
        
        3438.61000000
        PA
        USD
        3885.95000000
        0.000362491426
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36200MT60
        
          
        
        1509.72000000
        PA
        USD
        1800.53000000
        0.000167958076
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2035-11-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31418C3K8
        
          
        
        226745.36000000
        PA
        USD
        251034.10000000
        0.023417107499
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2048-10-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae
        21H022622
        
          
        
        36000000.00000000
        PA
        USD
        38038561.20000000
        3.548334974132
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2051-02-20
          Fixed
          2.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296J3U8
        
          
        
        15797.53000000
        PA
        USD
        17852.07000000
        0.001665287075
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-07-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31404MEY0
        
          
        
        109506.58000000
        PA
        USD
        114959.96000000
        0.010723761199
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-03-01
          Floating
          3.72000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128M8BM5
        
          
        
        3234.45000000
        PA
        USD
        3620.22000000
        0.000337703447
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-06-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296ML23
        
          
        
        6619.42000000
        PA
        USD
        7480.57000000
        0.000697806839
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36292KG67
        
          
        
        5204.07000000
        PA
        USD
        6128.13000000
        0.000571647752
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-02-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296K5E9
        
          
        
        3813.95000000
        PA
        USD
        4310.12000000
        0.000402059096
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294VCV0
        
          
        
        1334.33000000
        PA
        USD
        1573.29000000
        0.000146760543
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-10-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31402TUP8
        
          
        
        43687.89000000
        PA
        USD
        45622.78000000
        0.004255810440
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-08-01
          Floating
          3.13000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312941XA0
        
          
        
        3586.23000000
        PA
        USD
        4009.52000000
        0.000374018353
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2040-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3132GEEY2
        
          
        
        3460.80000000
        PA
        USD
        3868.65000000
        0.000360877637
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-05-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3132GDHH8
        
          
        
        5963.34000000
        PA
        USD
        6666.26000000
        0.000621845904
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-04-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36201XRL4
        
          
        
        6843.46000000
        PA
        USD
        8082.00000000
        0.000753909778
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-05-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294NCZ9
        
          
        
        2142.02000000
        PA
        USD
        2469.19000000
        0.000230332403
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-07-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36291YK63
        
          
        
        6800.67000000
        PA
        USD
        8023.62000000
        0.000748463942
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        LCH Limited
        F226TOH6YD6XJB17KS62
        Long: BR215132  IRS USD R V 03MLIBOR CCP / Short: BR215132  IRS USD P V 03MSOFR CCP +24.125BPS
        000000000
        
          
        
        9240000.00000000
        OU
        Notional Amount
        USD
        -8000.92000000
        -0.00074634642
        N/A
        DIR
        
        US
        N
        
        2
        
          
            
              LCH Limited
              F226TOH6YD6XJB17KS62
            
            
              
                N/A
                N/A
                
                  
                
              
            
            Y
            
              
                
              
            
            
              
                
              
            
            2024-11-10
            8.77000000
            USD
            0.00000000
            USD
            9240000.00000000
            USD
            -8009.69000000
          
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31402RB81
        
          
        
        142597.24000000
        PA
        USD
        149192.22000000
        0.013917034593
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-03-01
          Floating
          3.63000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae II Pool
        36225DG24
        
          
        
        183687.09000000
        PA
        USD
        189046.53000000
        0.017634747292
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2034-10-20
          Floating
          3.13000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36290TWR6
        
          
        
        5374.80000000
        PA
        USD
        6018.48000000
        0.000561419317
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-10-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128MJMK3
        
          
        
        3256.19000000
        PA
        USD
        3644.55000000
        0.000339973012
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294SDH7
        
          
        
        344.48000000
        PA
        USD
        398.57000000
        0.000037179636
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36292LCU6
        
          
        
        2559.66000000
        PA
        USD
        3013.17000000
        0.000281076259
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-04-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294YNL4
        
          
        
        6537.54000000
        PA
        USD
        7738.50000000
        0.000721867213
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2037-01-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296MYJ2
        
          
        
        14456.61000000
        PA
        USD
        16337.33000000
        0.001523988226
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296NDX2
        
          
        
        290926.37000000
        PA
        USD
        328774.10000000
        0.030668894953
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36291YLR6
        
          
        
        4359.82000000
        PA
        USD
        5185.17000000
        0.000483686014
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128K6VR8
        
          
        
        1311.19000000
        PA
        USD
        1468.51000000
        0.000136986395
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-07-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Strip Coupon
        912833Y20
        
          
        
        2800000.00000000
        PA
        USD
        2257791.37000000
        0.210612594949
        Long
        DBT
        UST
        US
        N
        
        1
        
          2036-05-15
          None
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294SAU1
        
          
        
        7889.80000000
        PA
        USD
        9329.79000000
        0.000870306844
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-07-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128L4RZ9
        
          
        
        1144.56000000
        PA
        USD
        1293.84000000
        0.000120692728
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2038-01-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3132GKM52
        
          
        
        11943.17000000
        PA
        USD
        13350.64000000
        0.001245382089
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae II Pool
        36179UH62
        
          
        
        14013837.55000000
        PA
        USD
        15336637.31000000
        1.430641034673
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2048-12-20
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296LT84
        
          
        
        11319.63000000
        PA
        USD
        12791.80000000
        0.001193252055
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294T2T1
        
          
        
        3402.46000000
        PA
        USD
        4014.32000000
        0.000374466110
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-10-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3129366F9
        
          
        
        5040.07000000
        PA
        USD
        5641.19000000
        0.000526224734
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-11-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31292HYS7
        
          
        
        49925.11000000
        PA
        USD
        56421.37000000
        0.005263130732
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294TJ48
        
          
        
        1450.17000000
        PA
        USD
        1708.78000000
        0.000159399400
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36290VNF7
        
          
        
        22173.33000000
        PA
        USD
        26101.94000000
        0.002434856200
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2037-01-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31407E2H5
        
          
        
        163568.50000000
        PA
        USD
        170003.09000000
        0.015858326154
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-04-01
          Floating
          3.22000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36292M3H3
        
          
        
        4833.93000000
        PA
        USD
        5695.98000000
        0.000531335686
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-10-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Non Gold Pool
        31300MAH6
        
          
        
        118030.23000000
        PA
        USD
        123807.17000000
        0.011549051738
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2042-06-01
          Floating
          2.87000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296NDY0
        
          
        
        162147.15000000
        PA
        USD
        183245.75000000
        0.017093635591
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128M9DF6
        
          
        
        16868.42000000
        PA
        USD
        18856.76000000
        0.001759007146
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-12-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae II Pool
        36225DFS8
        
          
        
        465628.65000000
        PA
        USD
        478682.55000000
        0.044652741325
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2034-09-20
          Floating
          2.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294RS67
        
          
        
        14065.76000000
        PA
        USD
        16762.08000000
        0.001563610000
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36200FDT2
        
          
        
        931.79000000
        PA
        USD
        1110.84000000
        0.000103622016
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2035-10-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36292KSV9
        
          
        
        3639.33000000
        PA
        USD
        4305.93000000
        0.000401668242
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3132GESE1
        
          
        
        7393.73000000
        PA
        USD
        8265.25000000
        0.000771003810
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-06-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312932Z66
        
          
        
        15606.94000000
        PA
        USD
        17468.35000000
        0.001629492685
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-05-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294TYW9
        
          
        
        9357.00000000
        PA
        USD
        11065.84000000
        0.001032250060
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312946EV4
        
          
        
        9731.26000000
        PA
        USD
        10878.32000000
        0.001014757711
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-03-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36292LGU2
        
          
        
        5258.65000000
        PA
        USD
        6213.28000000
        0.000579590763
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-04-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36290TPS2
        
          
        
        3032.43000000
        PA
        USD
        3568.52000000
        0.000332880737
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-03-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Chicago Board of Trade
        549300EX04Q2QBFQTQ27
        US 5YR NOTE (CBT) MAR21 XCBT 20210331
        000000000
        
          
        
        -1406.00000000
        NC
        USD
        -357702.92000000
        -0.03336744980
        N/A
        DIR
        
        US
        N
        
        1
        
          
            
              Chicago Board of Trade
              549300EX04Q2QBFQTQ27
            
            Short
            
              
                5 Year US Treasury Note
                FVH1 Comdty
              
            
            2021-03-31
            -177007000.91000000
            USD
            -357702.92000000
          
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac REMICS
        3133TAG22
        
          
        
        191897.10000000
        PA
        USD
        217299.11000000
        0.020270220732
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2027-07-15
          Fixed
          7.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296NFQ5
        
          
        
        26849.97000000
        PA
        USD
        30341.94000000
        0.002830374322
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31409JNR7
        
          
        
        151069.37000000
        PA
        USD
        157569.63000000
        0.014698500977
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2036-06-01
          Floating
          3.31000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36290TRU5
        
          
        
        2782.37000000
        PA
        USD
        3271.49000000
        0.000305173014
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-06-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36295PUN0
        
          
        
        4025.30000000
        PA
        USD
        4760.61000000
        0.000444081963
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2037-11-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36290TXK0
        
          
        
        5478.97000000
        PA
        USD
        6518.84000000
        0.000608094187
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-11-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3129354U0
        
          
        
        5515.46000000
        PA
        USD
        6173.28000000
        0.000575859460
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312931D70
        
          
        
        7060.88000000
        PA
        USD
        7905.50000000
        0.000737445404
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-02-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae II Pool
        36225DFP4
        
          
        
        860620.64000000
        PA
        USD
        885476.22000000
        0.082599502743
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2034-09-20
          Floating
          2.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31292HYK4
        
          
        
        2481.50000000
        PA
        USD
        2804.39000000
        0.000261600723
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        3140HEJY9
        
          
        
        664015.42000000
        PA
        USD
        737491.44000000
        0.068795101263
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2049-07-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294PE25
        
          
        
        1994.05000000
        PA
        USD
        2350.41000000
        0.000219252299
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-06-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296NH26
        
          
        
        3574.86000000
        PA
        USD
        3923.10000000
        0.000365956873
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294QDK4
        
          
        
        3410.84000000
        PA
        USD
        4024.20000000
        0.000375387742
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-10-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128MJLM0
        
          
        
        979.49000000
        PA
        USD
        1096.31000000
        0.000102266620
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-02-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294Q6Z9
        
          
        
        5884.43000000
        PA
        USD
        6946.91000000
        0.000648025659
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-10-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36295JA48
        
          
        
        2333.99000000
        PA
        USD
        2545.14000000
        0.000237417215
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2037-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36292L5H3
        
          
        
        11794.68000000
        PA
        USD
        14050.11000000
        0.001310630453
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-05-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294YMZ4
        
          
        
        18134.33000000
        PA
        USD
        21415.14000000
        0.001997659423
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2037-01-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128M84D3
        
          
        
        5701.07000000
        PA
        USD
        6374.12000000
        0.000594594333
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3132GE7K0
        
          
        
        3964.38000000
        PA
        USD
        4431.68000000
        0.000413398526
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-07-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36292DTP7
        
          
        
        1740.20000000
        PA
        USD
        1937.14000000
        0.000180701409
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294PNG4
        
          
        
        5487.53000000
        PA
        USD
        6474.34000000
        0.000603943112
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31413KBG5
        
          
        
        93680.36000000
        PA
        USD
        111406.06000000
        0.010392244253
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2037-10-01
          Fixed
          7.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36292JPV5
        
          
        
        1352.08000000
        PA
        USD
        1605.36000000
        0.000149752116
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2035-10-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31298FT36
        
          
        
        4675.32000000
        PA
        USD
        5525.55000000
        0.000515437537
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2031-01-01
          Fixed
          7.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31405PKH2
        
          
        
        115610.75000000
        PA
        USD
        121260.83000000
        0.011311522584
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2034-10-01
          Floating
          2.16000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Non Gold Pool
        3128QLPD7
        
          
        
        604606.70000000
        PA
        USD
        636115.17000000
        0.059338461657
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-06-01
          Floating
          3.15000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae II Pool
        36179TXW0
        
          
        
        403491.54000000
        PA
        USD
        436652.69000000
        0.040732087718
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2048-05-20
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294T2N4
        
          
        
        10407.67000000
        PA
        USD
        12412.42000000
        0.001157862511
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-10-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        9128285C0
        
          
        
        620000.00000000
        PA
        USD
        697693.75000000
        0.065082670223
        Long
        DBT
        UST
        US
        N
        
        1
        
          2025-09-30
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294PBV4
        
          
        
        729.49000000
        PA
        USD
        866.87000000
        0.000080863866
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-05-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36295ERS8
        
          
        
        3595.84000000
        PA
        USD
        4251.46000000
        0.000396587140
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2037-04-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3132GES84
        
          
        
        56963.00000000
        PA
        USD
        63677.43000000
        0.005939994700
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-06-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31407UK97
        
          
        
        95698.06000000
        PA
        USD
        100959.57000000
        0.009417768756
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-10-01
          Floating
          2.23000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312940M30
        
          
        
        7498.72000000
        PA
        USD
        8384.00000000
        0.000782081116
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2040-05-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Goldman Sachs Financial Square Government Fund
        549300BRJMXN4GUWZ402
        Goldman Sachs Financial Square Government Fund
        38141W273
        
          
        
        219940148.18000000
        NS
        USD
        219940148.18000000
        20.51658357685
        Long
        EC
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296LYN5
        
          
        
        41753.12000000
        PA
        USD
        47184.94000000
        0.004401532749
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31385HJC7
        
          
        
        18494.50000000
        PA
        USD
        18709.33000000
        0.001745254496
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2029-08-01
          Floating
          2.36000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128MJMN7
        
          
        
        6367.23000000
        PA
        USD
        7126.64000000
        0.000664791337
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac REMICS
        31394PP72
        
          
        
        459109.19000000
        PA
        USD
        517451.36000000
        0.048269195789
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2034-02-15
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312941VC8
        
          
        
        4753.46000000
        PA
        USD
        5314.64000000
        0.000495763309
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2040-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        91282CBB6
        
          
        
        11090000.00000000
        PA
        USD
        11072671.88000000
        1.032887355605
        Long
        DBT
        UST
        US
        N
        
        1
        
          2027-12-31
          Fixed
          0.63000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312942E50
        
          
        
        8910.65000000
        PA
        USD
        9962.38000000
        0.000929316468
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2040-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296K5H2
        
          
        
        41784.78000000
        PA
        USD
        47221.82000000
        0.004404973010
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312941WK9
        
          
        
        6038.68000000
        PA
        USD
        6751.59000000
        0.000629805706
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2040-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        UMBS, TBA
        N/A
        Uniform Mortgage-Backed Security, TBA
        01F050619
        
          
        
        8000000.00000000
        PA
        USD
        8852500.00000000
        0.825784003589
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2051-01-15
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31335HTC7
        
          
        
        12817.93000000
        PA
        USD
        13003.30000000
        0.001212981319
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2022-04-01
          Fixed
          7.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Pool
        3132A5JU0
        
          
        
        511782.46000000
        PA
        USD
        566934.02000000
        0.052885065778
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2048-05-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31406TLS8
        
          
        
        55291.76000000
        PA
        USD
        58196.21000000
        0.005428692379
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-04-01
          Floating
          3.60000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36213CZ29
        
          
        
        1989.34000000
        PA
        USD
        2350.47000000
        0.000219257896
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2035-12-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36292GT96
        
          
        
        2087.79000000
        PA
        USD
        2447.13000000
        0.000228274590
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-01-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36292LBM5
        
          
        
        6471.19000000
        PA
        USD
        7663.39000000
        0.000714860759
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-03-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31405NU52
        
          
        
        113022.42000000
        PA
        USD
        118502.57000000
        0.011054224986
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2034-10-01
          Floating
          2.16000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31410GDS9
        
          
        
        287425.37000000
        PA
        USD
        301675.57000000
        0.028141074270
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2034-02-01
          Floating
          3.82000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128M66W3
        
          
        
        8804.78000000
        PA
        USD
        9952.67000000
        0.000928410695
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294RBT5
        
          
        
        8459.74000000
        PA
        USD
        9832.71000000
        0.000917220517
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2037-05-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36291Q6H2
        
          
        
        1279.64000000
        PA
        USD
        1522.51000000
        0.000142023654
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-04-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Non Gold Pool
        3128NHQY2
        
          
        
        10382.50000000
        PA
        USD
        10965.47000000
        0.001022887288
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2036-11-01
          Floating
          2.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36290TQQ5
        
          
        
        1985.51000000
        PA
        USD
        2194.30000000
        0.000204689956
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-04-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296LSQ5
        
          
        
        1532.90000000
        PA
        USD
        1732.32000000
        0.000161595271
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128LXNP1
        
          
        
        934.24000000
        PA
        USD
        1046.33000000
        0.000097604357
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2036-05-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        3140Q9MP5
        
          
        
        5735248.18000000
        PA
        USD
        6302720.59000000
        0.587934012122
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2048-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae
        21H040616
        
          
        
        19000000.00000000
        PA
        USD
        20254296.40000000
        1.889372942228
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2051-01-21
          Fixed
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294RUN7
        
          
        
        10040.25000000
        PA
        USD
        11969.59000000
        0.001116554188
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2037-03-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294Q6D8
        
          
        
        7110.63000000
        PA
        USD
        8384.05000000
        0.000782085780
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312936NA1
        
          
        
        7795.79000000
        PA
        USD
        8725.58000000
        0.000813944579
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-10-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        912810RD2
        
          
        
        7370000.00000000
        PA
        USD
        10600132.81000000
        0.988807693919
        Long
        DBT
        UST
        US
        N
        
        1
        
          2043-11-15
          Fixed
          3.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3129316G8
        
          
        
        26506.90000000
        PA
        USD
        29668.32000000
        0.002767537313
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-03-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        3138AXBQ3
        
          
        
        267339.71000000
        PA
        USD
        298824.60000000
        0.027875128444
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2036-11-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312939EX5
        
          
        
        3371.20000000
        PA
        USD
        3769.20000000
        0.000351600685
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2040-02-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296MQ28
        
          
        
        77694.75000000
        PA
        USD
        87802.36000000
        0.008190430315
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        FEDERAL HOME LOAN BANK
        2549001DPIFGXC1TOL40
        Federal Home Loan Banks
        3130AJHU6
        
          
        
        44850000.00000000
        PA
        USD
        45136143.00000000
        4.210415687446
        Long
        DBT
        USGSE
        US
        N
        
        2
        
          2025-04-14
          Fixed
          0.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294P5Q2
        
          
        
        19177.50000000
        PA
        USD
        22286.33000000
        0.002078926270
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-07-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        FHLMC Multifamily Structured Pass Through Certs.
        N/A
        Freddie Mac Multifamily Structured Pass Through Certificates
        3137BFDQ1
        
          
        
        18246571.91000000
        PA
        USD
        18462458.05000000
        1.722225645255
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2021-09-25
          Fixed
          2.99000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        FREDDIE MAC
        S6XOOCT0IEG5ABCC6L87
        Federal Home Loan Mortgage Corp
        3137EAEQ8
        
          
        
        50330000.00000000
        PA
        USD
        50578126.90000000
        4.718057963911
        Long
        DBT
        USGSE
        US
        N
        
        2
        
          2023-04-20
          Fixed
          0.38000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3129413L9
        
          
        
        6256.01000000
        PA
        USD
        6994.58000000
        0.000652472440
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2040-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Pool
        3132AD3V8
        
          
        
        1884497.32000000
        PA
        USD
        2084596.07000000
        0.194456491222
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2049-02-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294V3W8
        
          
        
        8315.93000000
        PA
        USD
        9697.30000000
        0.000904589123
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-11-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294T4B8
        
          
        
        16414.83000000
        PA
        USD
        19264.45000000
        0.001797037520
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-10-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36295AD51
        
          
        
        4058.40000000
        PA
        USD
        4546.95000000
        0.000424151208
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2037-11-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36292K6T8
        
          
        
        11217.55000000
        PA
        USD
        13307.52000000
        0.001241359745
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-01-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294TZN8
        
          
        
        11646.30000000
        PA
        USD
        13824.57000000
        0.001289591500
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae II Pool
        36179UCC4
        
          
        
        2064534.20000000
        PA
        USD
        2230983.14000000
        0.208111854198
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2048-09-20
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        FEDERAL HOME LOAN BANK
        2549001DPIFGXC1TOL40
        Federal Home Loan Banks
        3133X8EW8
        
          
        
        1800000.00000000
        PA
        USD
        2126610.00000000
        0.198375658839
        Long
        DBT
        USGSE
        US
        N
        
        2
        
          2024-08-15
          Fixed
          5.38000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        91282CBC4
        
          
        
        11270000.00000000
        PA
        USD
        11277043.75000000
        1.051951690090
        Long
        DBT
        UST
        US
        N
        
        1
        
          2025-12-31
          Fixed
          0.38000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        3140Q9H30
        
          
        
        5391860.75000000
        PA
        USD
        5925356.79000000
        0.552732544788
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2048-07-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294N7H5
        
          
        
        22219.32000000
        PA
        USD
        26214.98000000
        0.002445400862
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-11-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36292L5P5
        
          
        
        6176.39000000
        PA
        USD
        7280.26000000
        0.000679121406
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-05-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        3140X4NL6
        
          
        
        492982.94000000
        PA
        USD
        543942.09000000
        0.050740319322
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2049-08-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        UMBS, TBA
        N/A
        Uniform Mortgage-Backed Security, TBA
        01F030611
        
          
        
        4000000.00000000
        PA
        USD
        4190778.00000000
        0.390926567070
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2051-01-15
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31409JYV6
        
          
        
        346554.07000000
        PA
        USD
        364679.19000000
        0.034018214238
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2036-06-01
          Floating
          2.77000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128K7NM6
        
          
        
        669.61000000
        PA
        USD
        749.95000000
        0.000069957267
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31402MQC7
        
          
        
        325606.73000000
        PA
        USD
        342191.31000000
        0.031920486864
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2034-06-01
          Floating
          2.60000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294PDW0
        
          
        
        2757.67000000
        PA
        USD
        3264.26000000
        0.000304498581
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-06-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        912828W55
        
          
        
        43730000.00000000
        PA
        USD
        44618265.63000000
        4.162106752346
        Long
        DBT
        UST
        US
        N
        
        1
        
          2022-02-28
          Fixed
          1.88000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294N2K3
        
          
        
        1407.21000000
        PA
        USD
        1677.62000000
        0.000156492715
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-07-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294S4W4
        
          
        
        12039.20000000
        PA
        USD
        14225.86000000
        0.001327024865
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2037-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        31359MEU3
        
          
        
        5200000.00000000
        PA
        USD
        7408024.00000000
        0.691039561412
        Long
        DBT
        USGSE
        US
        N
        
        2
        
          2029-05-15
          Fixed
          6.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294THG3
        
          
        
        424.62000000
        PA
        USD
        500.82000000
        0.000046717779
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31371LTR0
        
          
        
        371867.42000000
        PA
        USD
        410935.66000000
        0.038333136914
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2024-08-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312930XX3
        
          
        
        43423.81000000
        PA
        USD
        48618.16000000
        0.004535227202
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-02-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294NZL5
        
          
        
        2615.05000000
        PA
        USD
        3094.04000000
        0.000288620021
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-05-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Chicago Board of Trade
        549300EX04Q2QBFQTQ27
        US 10YR ULTRA FUT MAR21 XCBT 20210322
        000000000
        
          
        
        -92.00000000
        NC
        USD
        51062.56000000
        0.004763247131
        N/A
        DIR
        
        US
        N
        
        1
        
          
            
              Chicago Board of Trade
              549300EX04Q2QBFQTQ27
            
            Short
            
              
                US 10 Year Ultra Bond
                UXYH1 Comdty
              
            
            2021-03-22
            -14423187.56000000
            USD
            51062.56000000
          
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128M7CC8
        
          
        
        1789.33000000
        PA
        USD
        2003.37000000
        0.000186879514
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-02-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294QAB7
        
          
        
        6783.86000000
        PA
        USD
        8090.58000000
        0.000754710143
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312938K51
        
          
        
        3295.03000000
        PA
        USD
        3688.02000000
        0.000344028005
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-12-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31292LHH1
        
          
        
        18500.75000000
        PA
        USD
        20681.50000000
        0.001929223594
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2042-03-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae II Pool
        36179VBK5
        
          
        
        3591679.12000000
        PA
        USD
        3910066.86000000
        0.364741108833
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2049-12-20
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36290XDT4
        
          
        
        3965.70000000
        PA
        USD
        4671.40000000
        0.000435760225
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312938M26
        
          
        
        2348.49000000
        PA
        USD
        2628.53000000
        0.000245196049
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-12-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3129382N2
        
          
        
        2742.78000000
        PA
        USD
        3069.91000000
        0.000286369112
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2040-01-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294NDR6
        
          
        
        2032.44000000
        PA
        USD
        2299.78000000
        0.000214529402
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31292HYA6
        
          
        
        8163.98000000
        PA
        USD
        9226.28000000
        0.000860651164
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-07-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294QVQ1
        
          
        
        3286.01000000
        PA
        USD
        3855.68000000
        0.000359667762
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-07-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296MMY2
        
          
        
        26185.54000000
        PA
        USD
        29592.12000000
        0.002760429181
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31292K2A4
        
          
        
        5227.68000000
        PA
        USD
        5844.85000000
        0.000545222664
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2040-05-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296MGV5
        
          
        
        40133.83000000
        PA
        USD
        45354.99000000
        0.004230830299
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36200GCU8
        
          
        
        2283.92000000
        PA
        USD
        2718.49000000
        0.000253587749
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-01-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312931EM6
        
          
        
        21563.96000000
        PA
        USD
        24135.85000000
        0.002251454260
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-02-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae II Pool
        36225DAZ7
        
          
        
        103036.51000000
        PA
        USD
        106356.24000000
        0.009921184035
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2034-05-20
          Floating
          2.88000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        3140Q9VK6
        
          
        
        5603759.17000000
        PA
        USD
        6263291.92000000
        0.584256004218
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2048-10-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36225B7J1
        
          
        
        4482.52000000
        PA
        USD
        5213.50000000
        0.000486328709
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2034-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Inflation Indexed Bonds
        912828TE0
        
          
        
        18886597.20000000
        PA
        USD
        19476342.34000000
        1.816803383541
        Long
        DBT
        UST
        US
        N
        
        1
        
          2022-07-15
          Fixed
          0.13000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128M6T65
        
          
        
        136946.39000000
        PA
        USD
        154807.83000000
        0.014440873159
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2038-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36290TWX3
        
          
        
        3755.25000000
        PA
        USD
        4209.26000000
        0.000392650615
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-10-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294TMK8
        
          
        
        9904.42000000
        PA
        USD
        11678.17000000
        0.001089369779
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-10-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36292L6P4
        
          
        
        4394.59000000
        PA
        USD
        5179.95000000
        0.000483199079
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-05-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128LXC32
        
          
        
        2621.50000000
        PA
        USD
        2936.03000000
        0.000273880441
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-10-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3132GGEW1
        
          
        
        9150.41000000
        PA
        USD
        10229.00000000
        0.000954187469
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36200RDN9
        
          
        
        2509.11000000
        PA
        USD
        2953.17000000
        0.000275479304
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2035-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294SS57
        
          
        
        5886.90000000
        PA
        USD
        6598.38000000
        0.000615513883
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-07-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294TYH2
        
          
        
        8798.15000000
        PA
        USD
        10370.48000000
        0.000967385088
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31418DQS4
        
          
        
        214570.66000000
        PA
        USD
        238195.30000000
        0.022219471162
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2050-06-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36292LD76
        
          
        
        1758.28000000
        PA
        USD
        2091.99000000
        0.000195146216
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-05-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31406PKU2
        
          
        
        101389.21000000
        PA
        USD
        105651.60000000
        0.009855453401
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-02-01
          Floating
          3.51000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312934TN2
        
          
        
        7081.33000000
        PA
        USD
        7925.91000000
        0.000739349301
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36292HFE8
        
          
        
        1713.20000000
        PA
        USD
        2016.74000000
        0.000188126702
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-01-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294NMW5
        
          
        
        18393.61000000
        PA
        USD
        21893.43000000
        0.002042275546
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae II Pool
        36179TE35
        
          
        
        6181943.57000000
        PA
        USD
        6747965.41000000
        0.629467595860
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2047-08-20
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312933WQ3
        
          
        
        322232.95000000
        PA
        USD
        360664.99000000
        0.033643759321
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-06-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296NBZ9
        
          
        
        49970.98000000
        PA
        USD
        56471.90000000
        0.005267844300
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        3140Q83T0
        
          
        
        11817933.85000000
        PA
        USD
        12809986.76000000
        1.194948562846
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2048-05-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296MUC1
        
          
        
        688.89000000
        PA
        USD
        778.51000000
        0.000072621418
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Pool
        3132DMC60
        
          
        
        20608509.51000000
        PA
        USD
        22829358.13000000
        2.129581333630
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2049-10-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31406GLK3
        
          
        
        34623.72000000
        PA
        USD
        36104.76000000
        0.003367945016
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-02-01
          Floating
          3.46000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312931GB8
        
          
        
        2151.32000000
        PA
        USD
        2407.82000000
        0.000224607652
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-02-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296W5V5
        
          
        
        1070.14000000
        PA
        USD
        1209.66000000
        0.000112840200
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2034-04-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294RSW0
        
          
        
        911.38000000
        PA
        USD
        1080.24000000
        0.000100767569
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294T3L7
        
          
        
        4750.63000000
        PA
        USD
        5603.17000000
        0.000522678131
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        UMBS, TBA
        N/A
        Uniform Mortgage-Backed Security, TBA
        01F050619
        
          
        
        -16000000.00000000
        PA
        USD
        -17705000.00000000
        -1.65156800717
        Short
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2051-01-15
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        9128285V8
        
          
        
        62560000.00000000
        PA
        USD
        64097118.59000000
        5.979144332989
        Long
        DBT
        UST
        US
        N
        
        1
        
          2022-01-15
          Fixed
          2.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31409DVL4
        
          
        
        609773.46000000
        PA
        USD
        645661.74000000
        0.060228990298
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2036-04-01
          Floating
          3.72000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36291YL47
        
          
        
        3906.03000000
        PA
        USD
        4639.69000000
        0.000432802234
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Chicago Board of Trade
        549300EX04Q2QBFQTQ27
        US ULTRA BOND CBT MAR21 XCBT 20210322
        000000000
        
          
        
        -100.00000000
        NC
        USD
        256655.29000000
        0.023941466582
        N/A
        DIR
        
        US
        N
        
        1
        
          
            
              Chicago Board of Trade
              549300EX04Q2QBFQTQ27
            
            Short
            
              
                US Treasury Ultra Long Bond
                WNH1 Comdty
              
            
            2021-03-22
            -21562905.29000000
            USD
            256655.29000000
          
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36290TNV7
        
          
        
        3634.65000000
        PA
        USD
        4277.20000000
        0.000398988233
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-02-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296NJN8
        
          
        
        10823.28000000
        PA
        USD
        12230.90000000
        0.001140929858
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        3620C06T0
        
          
        
        10842.61000000
        PA
        USD
        12784.37000000
        0.001192558965
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2039-02-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36290TY45
        
          
        
        33991.84000000
        PA
        USD
        40014.42000000
        0.003732648172
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-12-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36291YKN6
        
          
        
        5952.66000000
        PA
        USD
        7020.92000000
        0.000654929503
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296NBW6
        
          
        
        6978.58000000
        PA
        USD
        7886.45000000
        0.000735668371
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31391UJW6
        
          
        
        7373.20000000
        PA
        USD
        7601.55000000
        0.000709092165
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-01-01
          Floating
          1.73000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36201XRM2
        
          
        
        2270.55000000
        PA
        USD
        2690.05000000
        0.000250934793
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-05-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Pool
        3131YBQA9
        
          
        
        14751.35000000
        PA
        USD
        16375.33000000
        0.001527532964
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2049-04-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31416QZ40
        
          
        
        102259.79000000
        PA
        USD
        114438.38000000
        0.010675106873
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-04-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294N3K2
        
          
        
        2170.22000000
        PA
        USD
        2561.78000000
        0.000238969437
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-05-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294N6L7
        
          
        
        55357.13000000
        PA
        USD
        66357.16000000
        0.006189966817
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-11-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36292HCB7
        
          
        
        4207.11000000
        PA
        USD
        5009.62000000
        0.000467310258
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2035-12-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae II Pool
        36179UUM2
        
          
        
        1918489.87000000
        PA
        USD
        2094334.81000000
        0.195364945976
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2049-06-20
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294SDJ3
        
          
        
        2174.60000000
        PA
        USD
        2500.82000000
        0.000233282931
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        FHLMC Multifamily Structured Pass Through Certs.
        N/A
        Freddie Mac Multifamily Structured Pass Through Certificates
        3137BDDC7
        
          
        
        14946845.23000000
        PA
        USD
        15038735.45000000
        1.402851981792
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2021-06-25
          Fixed
          3.13000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36291LAX3
        
          
        
        2170.33000000
        PA
        USD
        2559.01000000
        0.000238711044
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-06-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36292DTS1
        
          
        
        373.02000000
        PA
        USD
        440.10000000
        0.000041053661
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae II Pool
        36179TSJ5
        
          
        
        159690.34000000
        PA
        USD
        173712.83000000
        0.016204380257
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2048-02-20
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294T3G8
        
          
        
        9240.94000000
        PA
        USD
        10899.31000000
        0.001016715712
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Non Gold Pool
        31300MS46
        
          
        
        1194359.04000000
        PA
        USD
        1249003.95000000
        0.116510305826
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2044-11-01
          Floating
          2.27000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296NG43
        
          
        
        3962.28000000
        PA
        USD
        4477.75000000
        0.000417696054
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36290XDM9
        
          
        
        1758.90000000
        PA
        USD
        2074.55000000
        0.000193519367
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312941GA9
        
          
        
        20076.88000000
        PA
        USD
        22447.10000000
        0.002093923310
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2040-07-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294RPG8
        
          
        
        3490.68000000
        PA
        USD
        4149.78000000
        0.000387102168
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        31359MFJ7
        
          
        
        16080000.00000000
        PA
        USD
        24559305.60000000
        2.290955289888
        Long
        DBT
        USGSE
        US
        N
        
        2
        
          2030-01-15
          Fixed
          7.13000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294PAV5
        
          
        
        3237.00000000
        PA
        USD
        3835.06000000
        0.000357744275
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-04-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36292M3D2
        
          
        
        1224.47000000
        PA
        USD
        1445.11000000
        0.000134803583
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac REMICS
        312907TB4
        
          
        
        6.02000000
        PA
        USD
        17.87000000
        0.000001666959
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2021-11-15
          Fixed
          1172.81000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128K7MY1
        
          
        
        5938.73000000
        PA
        USD
        6651.27000000
        0.000620447598
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae II Pool
        36179UH54
        
          
        
        5846786.75000000
        PA
        USD
        6318172.24000000
        0.589375381837
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2048-12-20
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36200GGA8
        
          
        
        2143.65000000
        PA
        USD
        2529.92000000
        0.000235997454
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294RSZ3
        
          
        
        2448.32000000
        PA
        USD
        2895.45000000
        0.000270095034
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128K7UX4
        
          
        
        15908.67000000
        PA
        USD
        17817.01000000
        0.001662016588
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128K7ZU5
        
          
        
        1371.64000000
        PA
        USD
        1536.21000000
        0.000143301625
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312946PD2
        
          
        
        12962.69000000
        PA
        USD
        14490.65000000
        0.001351725159
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-03-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae II Pool
        36179U6Y3
        
          
        
        252013.16000000
        PA
        USD
        274353.10000000
        0.025592363887
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2049-11-20
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        3138A1PN5
        
          
        
        5633.23000000
        PA
        USD
        6296.66000000
        0.000587368664
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-05-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        N/A
        Fannie Mae REMICS
        3136ANSD0
        
          
        
        4462139.03000000
        PA
        USD
        4737477.10000000
        0.441924067387
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2045-05-25
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296LXG1
        
          
        
        16327.41000000
        PA
        USD
        18451.51000000
        0.001721204382
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294PBX0
        
          
        
        5337.38000000
        PA
        USD
        6291.23000000
        0.000586862140
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-05-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36202TQH2
        
          
        
        17328.96000000
        PA
        USD
        20666.90000000
        0.001927861668
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-06-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296MZQ5
        
          
        
        7933.25000000
        PA
        USD
        8965.32000000
        0.000836308143
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128M7VD5
        
          
        
        1172.08000000
        PA
        USD
        1324.85000000
        0.000123585420
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-12-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312930QZ6
        
          
        
        1287.88000000
        PA
        USD
        1441.94000000
        0.000134507877
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-01-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36291Q6N9
        
          
        
        7761.73000000
        PA
        USD
        9145.90000000
        0.000853153111
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-05-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128M9BZ4
        
          
        
        51735.62000000
        PA
        USD
        57833.88000000
        0.005394893303
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        9128285T3
        
          
        
        4500000.00000000
        PA
        USD
        5004492.21000000
        0.466831924665
        Long
        DBT
        UST
        US
        N
        
        1
        
          2025-12-31
          Fixed
          2.63000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312933AQ7
        
          
        
        5888.73000000
        PA
        USD
        6591.07000000
        0.000614831987
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-05-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294SST5
        
          
        
        4850.56000000
        PA
        USD
        5715.57000000
        0.000533163092
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-07-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36292MAF9
        
          
        
        1922.89000000
        PA
        USD
        2263.20000000
        0.000211117125
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-06-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294R5M7
        
          
        
        4960.70000000
        PA
        USD
        5843.46000000
        0.000545093001
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296NBQ9
        
          
        
        40016.64000000
        PA
        USD
        45222.56000000
        0.004218476887
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31297TW66
        
          
        
        1566.89000000
        PA
        USD
        1754.89000000
        0.000163700659
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-10-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312932Z74
        
          
        
        1255.13000000
        PA
        USD
        1404.83000000
        0.000131046161
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-05-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36200JM64
        
          
        
        2435.77000000
        PA
        USD
        2866.85000000
        0.000267427152
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-03-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294T2R5
        
          
        
        12073.68000000
        PA
        USD
        14353.36000000
        0.001338918394
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-10-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294Q6X4
        
          
        
        2920.23000000
        PA
        USD
        3445.37000000
        0.000321392988
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294XCV6
        
          
        
        42737.42000000
        PA
        USD
        50438.45000000
        0.004705028542
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2037-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312934SC7
        
          
        
        14762.03000000
        PA
        USD
        16522.67000000
        0.001541277219
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36292LDV3
        
          
        
        5598.38000000
        PA
        USD
        6598.87000000
        0.000615559591
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-05-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Chicago Board of Trade
        549300EX04Q2QBFQTQ27
        US 2YR NOTE (CBT) MAR21 XCBT 20210331
        000000000
        
          
        
        2780.00000000
        NC
        USD
        507966.11000000
        0.047384387235
        N/A
        DIR
        
        US
        N
        
        1
        
          
            
              Chicago Board of Trade
              549300EX04Q2QBFQTQ27
            
            Long
            
              
                2 Year US Treasury Note
                TUH1 Comdty
              
            
            2021-03-31
            613763441.53000000
            USD
            507966.11000000
          
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128LXAE0
        
          
        
        1007.17000000
        PA
        USD
        1128.01000000
        0.000105223678
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-04-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128MJL57
        
          
        
        9403.52000000
        PA
        USD
        10525.06000000
        0.000981804708
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-06-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36291Y3D7
        
          
        
        2862.34000000
        PA
        USD
        3408.33000000
        0.000317937802
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2035-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296LSV4
        
          
        
        111720.78000000
        PA
        USD
        126254.97000000
        0.011777388827
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296LCD1
        
          
        
        6767.67000000
        PA
        USD
        7648.10000000
        0.000713434469
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294PNA7
        
          
        
        11198.88000000
        PA
        USD
        13204.45000000
        0.001231745109
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-07-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31411DUP2
        
          
        
        26201.12000000
        PA
        USD
        27715.23000000
        0.002585348047
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2036-11-01
          Floating
          2.31000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296NHA8
        
          
        
        2243.55000000
        PA
        USD
        2535.48000000
        0.000236516105
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac REMICS
        3137BWTG9
        
          
        
        7618233.57000000
        PA
        USD
        7670702.63000000
        0.715542900665
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2042-11-15
          Fixed
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36200QXE9
        
          
        
        686.45000000
        PA
        USD
        794.80000000
        0.000074140991
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-01-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac REMICS
        3133TCC63
        
          
        
        144430.84000000
        PA
        USD
        161870.36000000
        0.015099684150
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2027-12-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312939CA7
        
          
        
        3154.76000000
        PA
        USD
        3531.02000000
        0.000329382641
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2040-02-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36202VRZ6
        
          
        
        4587.91000000
        PA
        USD
        5463.06000000
        0.000509608309
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-01-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        3140JNN30
        
          
        
        50974.45000000
        PA
        USD
        56386.99000000
        0.005259923677
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2049-02-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36200C5K7
        
          
        
        5070.10000000
        PA
        USD
        5979.97000000
        0.000557827005
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-07-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31418DTC6
        
          
        
        383063.70000000
        PA
        USD
        424192.87000000
        0.039569803612
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2050-09-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294RGB9
        
          
        
        4559.71000000
        PA
        USD
        5374.58000000
        0.000501354667
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31416BY36
        
          
        
        65306.93000000
        PA
        USD
        67629.31000000
        0.006308636246
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2023-09-01
          Fixed
          5.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294P5V1
        
          
        
        911.65000000
        PA
        USD
        1074.91000000
        0.000100270373
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-07-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36290VKU7
        
          
        
        31319.23000000
        PA
        USD
        37021.94000000
        0.003453501929
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-11-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296MLP2
        
          
        
        69601.55000000
        PA
        USD
        78658.11000000
        0.007337431120
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296LAM3
        
          
        
        18985.80000000
        PA
        USD
        21455.74000000
        0.002001446696
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36200GDB9
        
          
        
        3233.28000000
        PA
        USD
        3856.08000000
        0.000359705075
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2035-11-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296MM22
        
          
        
        28669.99000000
        PA
        USD
        32399.78000000
        0.003022334938
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312933G57
        
          
        
        58959.61000000
        PA
        USD
        65991.60000000
        0.006155866439
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-06-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128MJL24
        
          
        
        92343.40000000
        PA
        USD
        103357.00000000
        0.009641407202
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-05-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128K8AJ5
        
          
        
        3153.88000000
        PA
        USD
        3532.29000000
        0.000329501110
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-10-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294QAR2
        
          
        
        6048.60000000
        PA
        USD
        7208.08000000
        0.000672388270
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-07-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36213CYM6
        
          
        
        2032.47000000
        PA
        USD
        2415.24000000
        0.000225299808
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2035-11-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294PA60
        
          
        
        8282.77000000
        PA
        USD
        9554.59000000
        0.000891276767
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-04-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3132GE3J7
        
          
        
        5178.86000000
        PA
        USD
        5789.31000000
        0.000540041749
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-06-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294QAX9
        
          
        
        5261.22000000
        PA
        USD
        6241.45000000
        0.000582218533
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        N/A
        Fannie Mae REMICS
        3136ABDT7
        
          
        
        927510.45000000
        PA
        USD
        1165780.00000000
        0.108746961389
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2042-07-25
          Fixed
          7.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Pool
        3132DV5A9
        
          
        
        283805.64000000
        PA
        USD
        315049.97000000
        0.029388672754
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2050-01-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294PJ38
        
          
        
        504.14000000
        PA
        USD
        562.54000000
        0.000052475180
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        912810SA7
        
          
        
        110000.00000000
        PA
        USD
        144306.25000000
        0.013461258725
        Long
        DBT
        UST
        US
        N
        
        1
        
          2048-02-15
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31416BY28
        
          
        
        75327.48000000
        PA
        USD
        78004.90000000
        0.007276498008
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2023-09-01
          Fixed
          5.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312933W67
        
          
        
        604.46000000
        PA
        USD
        676.55000000
        0.000063110326
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-05-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36200EHF1
        
          
        
        2179.82000000
        PA
        USD
        2599.70000000
        0.000242506712
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36291QYE8
        
          
        
        1003.01000000
        PA
        USD
        1190.39000000
        0.000111042645
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-06-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31292LHC2
        
          
        
        180985.04000000
        PA
        USD
        202318.38000000
        0.018872779648
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2042-03-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Non Gold Pool
        3128QSVG8
        
          
        
        46123.17000000
        PA
        USD
        48702.88000000
        0.004543130102
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2036-05-01
          Floating
          4.13000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312932MW3
        
          
        
        6465.90000000
        PA
        USD
        7237.07000000
        0.000675092531
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-04-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        3138EGU44
        
          
        
        14226682.04000000
        PA
        USD
        14296204.99000000
        1.333586827763
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2021-07-01
          Variable
          4.18000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312938EM1
        
          
        
        20228.48000000
        PA
        USD
        22640.30000000
        0.002111945504
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-12-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        LCH Limited
        F226TOH6YD6XJB17KS62
        Long: SR215285  IRS USD R F  1.24500 2 CCPVANILLA / Short: SR215285  IRS USD P V 03MLIBOR 1 CCPVANILLA
        000000000
        
          
        
        5980000.00000000
        OU
        Notional Amount
        USD
        -50675.72000000
        -0.00472716169
        N/A
        DIR
        
        US
        N
        
        2
        
          
            
              LCH Limited
              F226TOH6YD6XJB17KS62
            
            
              
                N/A
                N/A
                
                  
                
              
            
            Y
            
            
              
                
              
            
            2030-11-24
            0.00000000
            USD
            -4638.16000000
            USD
            5980000.00000000
            USD
            -46037.56000000
          
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36290TUN7
        
          
        
        17713.43000000
        PA
        USD
        21190.57000000
        0.001976710955
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294V4Q0
        
          
        
        6475.06000000
        PA
        USD
        7416.41000000
        0.000691821829
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-12-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296MFJ3
        
          
        
        1374.91000000
        PA
        USD
        1553.78000000
        0.000144940600
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296MGK9
        
          
        
        6177.19000000
        PA
        USD
        6980.80000000
        0.000651187006
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        3138ANZG1
        
          
        
        290837.35000000
        PA
        USD
        325067.36000000
        0.030323120697
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Government National Mortgage Association
        38381RL31
        
          
        
        8572835.29000000
        PA
        USD
        9402666.89000000
        0.877104988290
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2048-12-20
          Fixed
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296MK40
        
          
        
        2829.35000000
        PA
        USD
        3197.43000000
        0.000298264506
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312940RF8
        
          
        
        15538.69000000
        PA
        USD
        17373.15000000
        0.001620612184
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2040-05-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3132GDEC2
        
          
        
        20555.50000000
        PA
        USD
        22977.91000000
        0.002143438634
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-04-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296MQZ5
        
          
        
        2768.56000000
        PA
        USD
        3128.70000000
        0.000291853195
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Pool
        3132DV5B7
        
          
        
        797760.17000000
        PA
        USD
        885586.07000000
        0.082609749834
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2049-12-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296LBN0
        
          
        
        79446.21000000
        PA
        USD
        89781.67000000
        0.008375065450
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36291YL88
        
          
        
        10627.89000000
        PA
        USD
        12129.68000000
        0.001131487795
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294TA47
        
          
        
        1591.25000000
        PA
        USD
        1875.02000000
        0.000174906695
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Strip Coupon
        912833X96
        
          
        
        28900000.00000000
        PA
        USD
        23543778.62000000
        2.196224317248
        Long
        DBT
        UST
        US
        N
        
        1
        
          2035-11-15
          None
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3132GGHW8
        
          
        
        188086.26000000
        PA
        USD
        210251.71000000
        0.019612821106
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae
        21H020618
        
          
        
        57000000.00000000
        PA
        USD
        59626548.60000000
        5.562118048361
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2051-01-21
          Fixed
          2.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312941WJ2
        
          
        
        1967.57000000
        PA
        USD
        2199.80000000
        0.000205203010
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2040-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Non Gold Pool
        3128JPHF0
        
          
        
        260875.30000000
        PA
        USD
        274805.70000000
        0.025634583581
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2034-11-01
          Floating
          2.63000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312940A41
        
          
        
        15137.51000000
        PA
        USD
        16924.61000000
        0.001578771217
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2040-04-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae II Pool
        36179UCD2
        
          
        
        15144070.46000000
        PA
        USD
        16601950.75000000
        1.548672731739
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2048-09-20
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294P7G2
        
          
        
        20173.94000000
        PA
        USD
        23740.40000000
        0.002214565666
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31410GM26
        
          
        
        458548.32000000
        PA
        USD
        483349.91000000
        0.045088124689
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2037-07-01
          Floating
          2.92000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296LYL9
        
          
        
        70539.93000000
        PA
        USD
        79716.74000000
        0.007436182853
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296MKF5
        
          
        
        7465.90000000
        PA
        USD
        8437.17000000
        0.000787040951
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36292MDS8
        
          
        
        26059.97000000
        PA
        USD
        31043.28000000
        0.002895797124
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296MF95
        
          
        
        211169.17000000
        PA
        USD
        238640.98000000
        0.022261045341
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294TZ81
        
          
        
        13329.99000000
        PA
        USD
        15686.54000000
        0.001463280858
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-10-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36290VKV5
        
          
        
        5731.44000000
        PA
        USD
        6775.04000000
        0.000631993183
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-11-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36200C5B7
        
          
        
        456.38000000
        PA
        USD
        537.42000000
        0.000050131921
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-06-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36291YKJ5
        
          
        
        3292.66000000
        PA
        USD
        3923.84000000
        0.000366025902
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294N4W5
        
          
        
        40820.34000000
        PA
        USD
        48084.34000000
        0.004485431098
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36292DTR3
        
          
        
        885.52000000
        PA
        USD
        1055.27000000
        0.000098438303
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        LCH Limited
        F226TOH6YD6XJB17KS62
        Long: BR215286  IRS USD R V 03MLIBOR 1 CCPVANILLA / Short: BR215286  IRS USD P F  1.54300 2 CCPVANILLA
        000000000
        
          
        
        5560000.00000000
        OU
        Notional Amount
        USD
        55869.10000000
        0.005211613563
        N/A
        DIR
        
        US
        N
        
        2
        
          
            
              LCH Limited
              F226TOH6YD6XJB17KS62
            
            
              
                N/A
                N/A
                
                  
                
              
            
            Y
            
              
                
              
            
            
            2035-11-25
            0.00000000
            USD
            -410.77000000
            USD
            5560000.00000000
            USD
            56279.87000000
          
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae II Pool
        36179UKY7
        
          
        
        1244586.62000000
        PA
        USD
        1343275.99000000
        0.125304244557
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2049-01-20
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3129345T5
        
          
        
        5561.11000000
        PA
        USD
        6224.37000000
        0.000580625267
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31414NHM9
        
          
        
        85206.05000000
        PA
        USD
        95426.88000000
        0.008901665181
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-02-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296MME6
        
          
        
        6020.43000000
        PA
        USD
        6803.65000000
        0.000634661997
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac REMICS
        3137BSCT8
        
          
        
        2342911.97000000
        PA
        USD
        2507152.91000000
        0.233873681743
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2044-03-15
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        912810RG5
        
          
        
        410000.00000000
        PA
        USD
        560290.63000000
        0.052265353246
        Long
        DBT
        UST
        US
        N
        
        1
        
          2044-05-15
          Fixed
          3.38000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        912810SS8
        
          
        
        5420000.00000000
        PA
        USD
        5392053.13000000
        0.502984605620
        Long
        DBT
        UST
        US
        N
        
        1
        
          2050-11-15
          Fixed
          1.63000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        9128285U0
        
          
        
        7100000.00000000
        PA
        USD
        7619742.22000000
        0.710789182349
        Long
        DBT
        UST
        US
        N
        
        1
        
          2023-12-31
          Fixed
          2.63000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296MPG8
        
          
        
        1747.35000000
        PA
        USD
        1974.67000000
        0.000184202304
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312938S38
        
          
        
        10835.00000000
        PA
        USD
        12127.27000000
        0.001131262984
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2040-01-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
    
    
      
      
    
    
      2021-01-27
      GOLDMAN SACHS TRUST
      Peter Fortner
      Peter Fortner
      Vice President
    
  
  XXXX

GOLDMAN SACHS ENHANCED INCOME FUND

Schedule of Investments

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – 51.9%
Aerospace & Defense – 0.7%
General Dynamics Corp.
$	1,700,000		3.000	%	05/11/21	$ 1,716,388
	900,000		2.250	^(a)	11/15/22	928,584
Northrop Grumman Corp.
	1,188,000		3.500		03/15/21	1,195,354
	1,503,000		2.550	^(a)	10/15/22	1,561,061

						5,401,387

Agriculture – 0.4%
Altria Group, Inc.
	2,175,000		3.490		02/14/22	2,249,102
Archer-Daniels-Midland Co.^(a)
	600,000		2.750		03/27/25	652,524
Cargill, Inc.^(b)
	500,000		1.375		07/23/23	512,325

						3,413,951

Apparel – 0.1%
NIKE, Inc.^(a)
	725,000		2.400		03/27/25	780,339
Ralph Lauren Corp.
	275,000		1.700		06/15/22	280,066

						1,060,405

Automotive – 0.8%
Daimler Finance North America LLC^(b)
	775,000		3.350		05/04/21	782,525
(3M USD LIBOR + 0.550%)
	800,000		0.770	^(c)	05/04/21	801,056
General Motors Co.
	1,522,000		5.400		10/02/23	1,709,465
PACCAR Financial Corp.
	400,000		2.650		04/06/23	420,928
Volkswagen Group of America Finance LLC^(b)
	1,025,000		2.900		05/13/22	1,057,523
	1,225,000		0.750		11/23/22	1,229,018

						6,000,515

Banks – 15.6%
ABN AMRO Bank NV^(b)
	2,100,000		2.650		01/19/21	2,101,974
	600,000		3.400		08/27/21	611,952


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Banks – (continued)
Banco Santander SA
$	1,400,000		2.706	%	06/27/24	$ 1,493,394
Bank of America Corp.
	1,200,000		4.100		07/24/23	1,313,688
	2,500,000		4.000		01/22/25	2,809,350
(3M USD LIBOR + 0.630%)
	850,000		3.499	^(a)(c)	05/17/22	859,903
(3M USD LIBOR + 0.790%)
	4,125,000		3.004	^(a)(c)	12/20/23	4,342,676
(3M USD LIBOR + 0.940%)
	1,300,000		3.864	^(a)(c)	07/23/24	1,410,448
Bank of America NA^(a)(c) (3M USD LIBOR + 0.650%)
	500,000		3.335		01/25/23	515,975
Bank of Montreal
	750,000		2.050		11/01/22	774,188
Bank of New York Mellon Corp.^(a)
	1,375,000		0.350		12/07/23	1,377,062
Banque Federative du Credit Mutuel SA^(b)
	1,700,000		2.125		11/21/22	1,755,845
	950,000		0.650		02/27/24	951,900
Barclays Bank PLC^(a)
	725,000		1.700		05/12/22	737,216
Barclays PLC^(a)(c) (3M USD LIBOR + 1.400%)
	825,000		4.610		02/15/23	861,152
BNP Paribas SA^(b)
	900,000		2.950		05/23/22	932,121
	2,475,000		3.500		03/01/23	2,630,999
BPCE SA
	1,725,000		2.650		02/03/21	1,728,191
	649,000		4.000	^(b)	09/12/23	706,313
Canadian Imperial Bank of Commerce
	1,175,000		0.950		06/23/23	1,190,627
CIT Group, Inc.^(a)
	75,000		4.750		02/16/24	81,938
Citigroup, Inc.^(a)
	4,575,000		2.750		04/25/22	4,711,152
	925,000		2.700		10/27/22	962,102
(3M USD LIBOR + 0.722%)
	2,850,000		3.142	^(c)	01/24/23	2,931,168
(SOFR + 0.686%)
	1,225,000		0.776	^(c)	10/30/24	1,233,440
Citizens Bank NA^(a)
	1,200,000		3.250		02/14/22	1,235,832

GOLDMAN SACHS ENHANCED INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Banks – (continued)
$	900,000		2.250	%	04/28/25	$ 955,053
Cooperatieve Rabobank UA
	550,000		3.125		04/26/21	554,928
	2,650,000		4.625		12/01/23	2,952,365
(3M USD LIBOR + 0.430%)
	450,000		0.645	^(c)	04/26/21	450,558
Credit Suisse AG
	825,000		2.800		04/08/22	851,309
Credit Suisse Group Funding Guernsey Ltd.
	4,575,000		3.450		04/16/21	4,616,221
Danske Bank A/S^(a)(b)
	1,175,000		1.226		06/22/24	1,191,920
Fifth Third Bancorp^(a)
	325,000		1.625		05/05/23	334,159
Fifth Third Bank NA^(a)
	1,125,000		1.800		01/30/23	1,157,051
First Horizon Corp.^(a)
	1,000,000		3.550		05/26/23	1,060,710
HSBC Holdings PLC
	1,300,000		3.600		05/25/23	1,398,241
ING Bank NV^(b)
	1,725,000		2.750		03/22/21	1,734,367
ING Groep NV
	900,000		4.100		10/02/23	988,893
JPMorgan Chase & Co.^(a)(c)
(3M USD LIBOR + 0.610%)
	2,150,000		0.846		06/18/22	2,154,450
(3M USD LIBOR + 0.610%)
	1,900,000		3.514		06/18/22	1,927,721
(3M USD LIBOR + 0.695%)
	1,775,000		3.207		04/01/23	1,840,426
(SOFR + 0.600%)
	850,000		0.653		09/16/24	854,701
(SOFR + 1.455%)
	2,225,000		1.514		06/01/24	2,283,985
KeyBank NA
	675,000		2.400		06/09/22	694,899
	725,000		1.250		03/10/23	738,666
Lloyds Banking Group PLC^(a)(c) (1 Year CMT + 1.100%)
	1,200,000		1.326		06/15/23	1,213,320
Macquarie Bank Ltd.^(b)
	1,225,000		2.100		10/17/22	1,263,208
	2,150,000		0.441		12/16/22	2,151,913


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Banks – (continued)
Mitsubishi UFJ Financial Group, Inc.
$	1,000,000		2.623	%	07/18/22	$ 1,034,760
	1,550,000		3.761		07/26/23	1,677,735
Mizuho Financial Group, Inc.^(a)(c) (3M USD LIBOR + 0.990%)
	1,275,000		1.241		07/10/24	1,296,382
Morgan Stanley, Inc.
	1,400,000		3.125		01/23/23	1,477,742
(3M USD LIBOR + 0.847%)
	1,125,000		3.737	^(a)(c)	04/24/24	1,210,252
(3M USD LIBOR + 1.180%)
	4,575,000		1.398	^(a)(c)	01/20/22	4,577,287
(SOFR + 0.466%)
	1,550,000		0.560	^(a)(c)	11/10/23	1,553,859
(SOFR + 0.745%)
	725,000		0.864	^(a)(c)	10/21/25	730,380
MUFG Union Bank NA^(a)
	1,325,000		3.150		04/01/22	1,368,089
	650,000		2.100		12/09/22	670,703
Natwest Group PLC^(a)(c) (1 Year CMT + 2.150%)
	1,200,000		2.359		05/22/24	1,248,864
NatWest Markets PLC^(b)
	2,000,000		3.625		09/29/22	2,109,040
	795,000		2.375		05/21/23	827,293
Royal Bank of Canada
	1,125,000		1.950		01/17/23	1,162,249
	1,475,000		0.500		10/26/23	1,482,198
Santander UK PLC
	775,000		2.500		01/05/21	775,000
	950,000		2.100		01/13/23	980,999
Skandinaviska Enskilda Banken AB^(b)
	1,175,000		0.550		09/01/23	1,177,233
Standard Chartered PLC^(a)(b)(c)
(3M USD LIBOR + 1.080%)
	1,400,000		3.885		03/15/24	1,489,320
(3M USD LIBOR + 1.150%)
	1,200,000		4.247		01/20/23	1,243,740
State Street Corp.^(a)(c) (SOFR + 2.690%)
	450,000		2.825		03/30/23	463,946
Sumitomo Mitsui Trust Bank Ltd.^(b)
	2,250,000		0.800		09/12/23	2,268,067
The Huntington National Bank^(a)
	1,250,000		3.125		04/01/22	1,290,362
	1,050,000		1.800		02/03/23	1,077,731

GOLDMAN SACHS ENHANCED INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Banks – (continued)
Truist Bank^(a)
$	1,700,000		1.250	%	03/09/23	$ 1,733,201
UBS AG^(a)(b)
	1,475,000		1.750		04/21/22	1,501,358
UBS Group AG^(b)
	2,625,000		2.650		02/01/22	2,691,439
Wells Fargo & Co.
	925,000		2.625		07/22/22	957,643
	500,000		3.750	^(a)	01/24/24	545,805
(SOFR + 1.600%)
	3,125,000		1.654	^(a)(c)	06/02/24	3,212,094
Westpac Banking Corp.
	650,000		2.000		01/13/23	672,399

						118,136,840

Beverages – 0.8%
Constellation Brands, Inc.^(a)
	975,000		2.700		05/09/22	1,002,641
	1,950,000		3.200		02/15/23	2,061,111
Keurig Dr Pepper, Inc.^(a)
	2,250,000		4.057		05/25/23	2,443,927
The Coca-Cola Co.
	525,000		2.950		03/25/25	578,776

						6,086,455

Biotechnology – 0.2%
Gilead Sciences, Inc.^(a)
	175,000		0.750		09/29/23	175,455
(3M USD LIBOR + 0.520%)
	500,000		0.771	^(c)	09/29/23	500,985
Royalty Pharma PLC^(b)
	1,200,000		0.750		09/02/23	1,206,036

						1,882,476

Building Materials – 1.1%
Carrier Global Corp.^(a)
	4,025,000		1.923		02/15/23	4,146,837
Vulcan Materials Co.^(c) (3M USD LIBOR + 0.650%)
	4,179,000		0.875		03/01/21	4,179,668

						8,326,505

Chemicals – 0.7%
Celanese US Holdings LLC^(a)
	350,000		3.500		05/08/24	378,728


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Chemicals – (continued)
Nutrition & Biosciences, Inc.^(b)
$	3,050,000		0.697	%	09/15/22	$ 3,059,302
Syngenta Finance NV^(b)
	1,485,000		3.933		04/23/21	1,496,034
The Sherwin-Williams Co.^(a)
	64,000		2.750		06/01/22	65,933

						4,999,997

Commercial Services – 1.0%
Global Payments, Inc.^(a)
	1,150,000		3.750		06/01/23	1,228,441
IHS Markit Ltd.^(a)
	2,223,000		5.000	^(b)	11/01/22	2,366,584
	475,000		3.625		05/01/24	518,120
PayPal Holdings, Inc.
	1,800,000		2.200		09/26/22	1,859,778
	1,475,000		1.350		06/01/23	1,511,064

						7,483,987

Computers – 1.7%
Apple, Inc.
	800,000		0.750		05/11/23	809,712
Dell International LLC/EMC Corp.^(a)(b)
	3,300,000		5.450		06/15/23	3,650,031
	1,075,000		5.850		07/15/25	1,286,786
Hewlett Packard Enterprise Co.
	1,400,000		2.250	^(a)	04/01/23	1,453,788
	2,175,000		4.450	^(a)	10/02/23	2,395,001
	325,000		4.650	^(a)	10/01/24	369,388
(3M USD LIBOR + 0.680%)
	3,000,000		0.900	^(c)	03/12/21	3,002,700

						12,967,406

Diversified Financial Services – 4.0%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust^(a)
	725,000		4.450		12/16/21	747,577
	1,500,000		4.125		07/03/23	1,604,040
AIG Global Funding^(b)
	675,000		3.350		06/25/21	684,808
	1,450,000		2.300		07/01/22	1,491,325
	525,000		0.800		07/07/23	529,788

GOLDMAN SACHS ENHANCED INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Diversified Financial Services – (continued)
$	1,525,000		0.450	%	12/08/23	$ 1,524,847
(3M USD LIBOR + 0.460%)
	525,000		0.711	^(c)	06/25/21	525,992
Air Lease Corp.
	1,425,000		3.500		01/15/22	1,464,900
	500,000		2.250		01/15/23	513,420
	1,150,000		2.750	^(a)	01/15/23	1,187,801
	1,674,000		4.250	^(a)	02/01/24	1,815,235
	825,000		2.300	^(a)	02/01/25	853,875
Ally Financial, Inc.^(a)
	1,500,000		1.450		10/02/23	1,530,960
American Express Co.^(a)
	1,350,000		3.375		05/17/21	1,361,839
Avolon Holdings Funding Ltd.^(a)(b)
	1,550,000		3.625		05/01/22	1,585,154
	675,000		2.875		02/15/25	687,089
Capital One Financial Corp.^(a)
	1,600,000		3.450		04/30/21	1,643,632
	725,000		2.600		05/11/23	759,815
(3M USD LIBOR + 0.720%)
	1,300,000		0.934	^(c)	01/30/23	1,305,681
GE Capital Funding LLC^(a)(b)
	1,375,000		3.450		05/15/25	1,517,849
Intercontinental Exchange, Inc.
	500,000		0.700		06/15/23	503,885
(3M USD LIBOR + 0.650%)
	2,225,000		0.867	^(a)(c)	06/15/23	2,231,697
Jefferies Group LLC
	1,200,000		5.125		01/20/23	1,311,720
Nasdaq, Inc.^(a)
	1,450,000		0.445		12/21/22	1,451,276
The Charles Schwab Corp.^(a)
	1,125,000		3.250		05/21/21	1,134,900
USAA Capital Corp.^(b)
	150,000		1.500		05/01/23	153,828

						30,122,933

Electrical – 3.2%
Avangrid, Inc.^(a)
	650,000		3.200		04/15/25	712,160


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Electrical – (continued)
Berkshire Hathaway Energy Co.^(a)(b)
$	650,000		4.050	%	04/15/25	$ 737,698
CenterPoint Energy, Inc.^(a)
	1,850,000		2.500		09/01/22	1,912,456
Dominion Energy, Inc.
	2,700,000		2.715	^(d)	08/15/21	2,736,342
	1,200,000		2.450	^(b)	01/15/23	1,248,204
DTE Energy Co.
	475,000		2.600		06/15/22	489,806
	1,125,000		0.550		11/01/22	1,129,477
	575,000		1.050	^(a)	06/01/25	582,119
Entergy Louisiana LLC^(a)
	925,000		0.620		11/17/23	927,655
FirstEnergy Corp.^(a)
	400,000		2.050		03/01/25	398,996
Florida Power & Light Co.^(a)
	375,000		2.850		04/01/25	409,095
Georgia Power Co.
	1,000,000		2.100		07/30/23	1,044,950
ITC Holdings Corp.^(a)
	585,000		2.700		11/15/22	608,570
NextEra Energy Capital Holdings, Inc.
	1,200,000		2.900		04/01/22	1,238,112
NRG Energy, Inc.^(a)(b)
	1,225,000		3.750		06/15/24	1,339,660
Pacific Gas and Electric Co.^(a)
	1,250,000		1.750		06/16/22	1,253,137
PPL Electric Utilities Corp.^(a)(c) (3M USD LIBOR + 0.250%)
	275,000		0.501		09/28/23	275,160
Public Service Enterprise Group, Inc.^(a)
	675,000		2.875		06/15/24	727,184
	675,000		0.800		08/15/25	675,756
Southern Power Co.^(a)
	1,150,000		2.500		12/15/21	1,171,217
The Southern Co.^(a)
	1,400,000		2.950		07/01/23	1,483,258
Vistra Operations Co. LLC^(a)(b)
	875,000		3.550		07/15/24	945,000
WEC Energy Group, Inc.
	725,000		0.550		09/15/23	728,349

GOLDMAN SACHS ENHANCED INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Electrical – (continued)
Xcel Energy, Inc.^(a)
$	1,948,000		0.500	%	10/15/23	$ 1,954,370

						24,728,731

Environmental^(a) – 0.1%
Waste Management, Inc.
	625,000		0.750		11/15/25	626,688

Food & Drug Retailing – 0.5%
General Mills, Inc.^(c) (3M USD LIBOR + 0.540%)
	1,350,000		0.770		04/16/21	1,351,674
Mondelez International Holdings Netherlands B.V.^(b)
	775,000		2.125		09/19/22	797,878
Mondelez International, Inc.^(a)
	525,000		1.500		05/04/25	543,081
Nestle Holdings, Inc.^(a)(b)
	1,200,000		3.100		09/24/21	1,221,828

						3,914,461

Forest Products&Paper^(b) – 0.1%
Georgia-Pacific LLC
	1,125,000		0.625		05/15/24	1,128,094

Gas^(a) – 0.2%
NiSource, Inc.
	1,025,000		0.950		08/15/25	1,031,058
The East Ohio Gas Co.^(b)
	250,000		1.300		06/15/25	255,102

						1,286,160

Healthcare Providers & Services – 0.3%
Aetna, Inc.^(a)
	975,000		2.800		06/15/23	1,026,597
DH Europe Finance II S.a.r.l.
	1,000,000		2.050		11/15/22	1,031,680

						2,058,277

Insurance^(b) – 2.3%
Athene Global Funding
	1,090,000		2.800		05/26/23	1,138,897
	875,000		1.200		10/13/23	880,477
	375,000		2.500		01/14/25	392,993
Equitable Financial Life Global Funding
	700,000		1.400		07/07/25	718,305


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Insurance^(b) – (continued)
Great-West Lifeco US Finance 2020 LP^(a)
$	425,000		0.904	%	08/12/25	$ 426,879
Metropolitan Life Global Funding I
	1,625,000		3.375		01/11/22	1,676,464
	575,000		1.950		01/13/23	593,124
	600,000		0.900		06/08/23	607,128
New York Life Global Funding
	1,200,000		1.100		05/05/23	1,220,868
Pacific Life Global Funding II
	2,450,000		0.500		09/23/23	2,454,361
Principal Life Global Funding II
	2,150,000		0.500		01/08/24	2,151,784
Protective Life Global Funding
	675,000		1.082		06/09/23	686,293
	525,000		0.631		10/13/23	527,772
(3M USD LIBOR + 0.520%)
	2,000,000		0.771	^(c)	06/28/21	2,004,260
Reliance Standard Life Global Funding II
	1,600,000		2.625		07/22/22	1,647,472
	275,000		2.150		01/21/23	282,271

						17,409,348

Internet – 0.6%
Amazon.com, Inc.
	1,300,000		0.400		06/03/23	1,304,602
TD Ameritrade Holding Corp.^(a)(c) (3M USD LIBOR + 0.430%)
	2,950,000		0.644		11/01/21	2,959,352

						4,263,954

Iron/Steel^(a) – 0.2%
Steel Dynamics, Inc.
	1,240,000		2.400		06/15/25	1,319,670

Machinery-Diversified – 0.3%
John Deere Capital Corp.
	300,000		3.200		01/10/22	308,973
	400,000		1.200		04/06/23	408,004
Otis Worldwide Corp.^(a)(c) (3M USD LIBOR + 0.450%)
	1,525,000		0.688		04/05/23	1,524,832

						2,241,809

GOLDMAN SACHS ENHANCED INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Media – 2.2%
Charter Communications Operating LLC/Charter Communications Operating Capital^(a)
$	4,525,000		4.464	%	07/23/22	$ 4,768,083
	2,700,000		4.500		02/01/24	2,997,459
Fox Corp.
	2,475,000		3.666		01/25/22	2,561,699
Sky Ltd.^(b)
	1,550,000		3.125		11/26/22	1,628,539
The Walt Disney Co.
	825,000		3.350		03/24/25	914,496
Time Warner Cable LLC^(a)
	1,024,000		4.000		09/01/21	1,038,244
Time Warner Entertainment Co. LP
	2,200,000		8.375		03/15/23	2,573,714

						16,482,234

Mining^(a)(b) – 0.2%
Glencore Funding LLC
	1,175,000		3.000		10/27/22	1,221,048
	675,000		1.625		09/01/25	693,306

						1,914,354

Miscellaneous Manufacturing – 0.2%
Trane Technologies Global Holding Co. Ltd.
	1,300,000		2.900		02/21/21	1,304,147

Oil Field Services – 1.3%
BP Capital Markets America, Inc.
	1,025,000		2.937		04/06/23	1,082,584
BP Capital Markets PLC
	2,550,000		3.561		11/01/21	2,614,515
Canadian Natural Resources Ltd.^(a)
	825,000		2.050		07/15/25	865,953
Chevron Corp.
	950,000		1.141		05/11/23	969,276
Exxon Mobil Corp.^(a)
	900,000		2.992		03/19/25	985,221
Ovintiv Exploration, Inc.
	1,250,000		5.750		01/30/22	1,297,275
Phillips 66^(a)
	950,000		0.900		02/15/24	952,641


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Oil Field Services – (continued)
Suncor Energy, Inc.
$	1,175,000		2.800	%	05/15/23	$ 1,236,511

						10,003,976

Packaging^(a)(b) – 0.1%
Berry Global, Inc.
	550,000		1.570		01/15/26	554,906

Pharmaceuticals – 3.3%
AbbVie, Inc.
	1,225,000		3.375		11/14/21	1,257,071
	2,350,000		2.150		11/19/21	2,386,848
	1,975,000		2.300		11/21/22	2,047,107
	3,000,000		2.600	^(a)	11/21/24	3,214,710
Bayer US Finance II LLC^(a)(b)(c) (3M USD LIBOR + 0.630%)
	2,225,000		0.881		06/25/21	2,227,247
Becton Dickinson & Co.^(a)
	1,215,000		2.894		06/06/22	1,254,050
Bristol-Myers Squibb Co.
	1,175,000		2.550		05/14/21	1,184,729
	1,325,000		2.600		05/16/22	1,366,963
	1,450,000		0.537	^(a)	11/13/23	1,452,291
Cigna Corp.
	2,900,000		3.400		09/17/21	2,962,205
	2,500,000		3.750	^(a)	07/15/23	2,699,850
CVS Health Corp.^(a)
	2,200,000		2.125		06/01/21	2,212,584
	310,000		3.700		03/09/23	331,526
GlaxoSmithKline Capital PLC^(a)
	875,000		0.534		10/01/23	879,393

						25,476,574

Pipelines^(a) – 2.0%
Energy Transfer Operating LP
	1,150,000		5.200		02/01/22	1,191,917
Enterprise Products Operating LLC
	649,000		3.350		03/15/23	686,207
Kinder Morgan Energy Partners LP
	2,275,000		3.950		09/01/22	2,388,773

GOLDMAN SACHS ENHANCED INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Pipelines^(a) – (continued)
Kinder Morgan, Inc.^(b)
$	700,000		5.625	%	11/15/23	$ 788,949
MPLX LP
	1,125,000		3.375		03/15/23	1,191,173
	974,000		4.500		07/15/23	1,061,222
(3M USD LIBOR + 1.100%)
	1,050,000		1.330	^(c)	09/09/22	1,050,252
Plains All American Pipeline LP/PAA Finance Corp.
	1,250,000		3.650		06/01/22	1,287,862
Sabine Pass Liquefaction LLC
	2,300,000		6.250		03/15/22	2,420,405
Sunoco Logistics Partners Operations LP
	1,222,000		4.400		04/01/21	1,229,222
The Williams Cos., Inc.
	950,000		3.600		03/15/22	980,647
	1,100,000		3.700		01/15/23	1,165,296

						15,441,925

Real Estate Investment Trust – 0.7%
American Tower Corp.
	1,125,000		3.500		01/31/23	1,193,906
	750,000		0.600		01/15/24	750,420
Crown Castle International Corp.
	2,425,000		5.250		01/15/23	2,652,104
	700,000		1.350	^(a)	07/15/25	714,665

						5,311,095

Retailing – 0.1%
Starbucks Corp.
	300,000		1.300		05/07/22	304,089
The Home Depot, Inc.
	550,000		3.250		03/01/22	569,052

						873,141

Savings & Loans^(b) – 0.5%
Nationwide Building Society
	1,325,000		2.000		01/27/23	1,367,943
(3M USD LIBOR + 1.064%)
	1,001,000		3.766	^(a)(c)	03/08/24	1,065,325
(3M USD LIBOR + 1.181%)
	1,175,000		3.622	^(a)(c)	04/26/23	1,220,437

						3,653,705


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Semiconductors – 2.1%
Broadcom Corp./Broadcom Cayman Finance Ltd.^(a)
$	1,550,000		3.000	%	01/15/22	$ 1,586,471
	2,100,000		3.625		01/15/24	2,271,633
Broadcom, Inc.
	1,350,000		3.125		04/15/21	1,358,694
	3,125,000		3.125		10/15/22	3,272,344
	2,075,000		3.625	^(a)	10/15/24	2,278,371
	1,125,000		4.700	^(a)	04/15/25	1,289,835
NXP B.V./NXP Funding LLC^(b)
	3,200,000		4.625		06/01/23	3,500,736
	275,000		2.700	^(a)	05/01/25	295,617

						15,853,701

Software – 1.1%
Adobe, Inc.
	450,000		1.700		02/01/23	463,356
Fiserv, Inc.^(a)
	825,000		3.800		10/01/23	899,110
	2,800,000		2.750		07/01/24	3,007,088
Infor, Inc.^(a)(b)
	1,225,000		1.450		07/15/23	1,246,033
Intuit, Inc.
	450,000		0.650		07/15/23	453,690
	500,000		0.950	^(a)	07/15/25	506,285
Oracle Corp.^(a)
	1,400,000		2.500		04/01/25	1,504,006

						8,079,568

Telecommunication Services – 2.8%
AT&T, Inc.
	1,075,000		3.000	^(a)	06/30/22	1,112,120
	300,000		4.050		12/15/23	331,887
	275,000		4.450	^(a)	04/01/24	306,944
	3,100,000		3.950	^(a)	01/15/25	3,486,942
	2,375,000		3.400	^(a)	05/15/25	2,638,625
T-Mobile USA, Inc.^(a)(b)
	6,825,000		3.500		04/15/25	7,543,024

GOLDMAN SACHS ENHANCED INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Telecommunication Services – (continued)
Verizon Communications, Inc.
$	4,375,000		2.946	%	03/15/22	$ 4,511,237
	1,450,000		0.850	^(a)	11/20/25	1,461,586

						21,392,365

Transportation^(a) – 0.3%
Ryder System, Inc.
	875,000		2.875		06/01/22	904,050
United Parcel Service, Inc.
	1,000,000		3.900		04/01/25	1,130,090

						2,034,140

Trucking & Leasing^(a)(b) – 0.1%
Penske Truck Leasing Co LP/PTL Finance Corp.
	1,025,000		1.200		11/15/25	1,034,820

TOTAL CORPORATE OBLIGATIONS (Cost $386,395,246)						$394,270,700



Agency Debenture^(c) – 1.2%
Federal Farm Credit Banks Funding Corp.(SOFR + 0.380%)
$	8,900,000		0.470	%	05/08/23	$ 8,957,583
(Cost $8,900,000)



Asset-Backed Securities – 8.8%
Automotive – 3.4%
Ally Master Owner Trust Series 2018-1, Class A2
$	5,900,000		2.700	%	01/17/23	$ 5,903,624
Ford Credit Auto Owner Trust Series 2016-2, Class A^(b)
	500,000		2.030		12/15/27	504,283
Ford Credit Auto Owner Trust Series 2019-1, Class A^(b)
	1,000,000		3.520		07/15/30	1,090,789
Ford Credit Auto Owner Trust Series 2020-1, Class A^(b)
	4,000,000		2.040		08/15/31	4,213,479
Ford Credit Floorplan Master Owner Trust A Series 2018-2, Class A
	2,800,000		3.170		03/15/25	2,968,173
Ford Credit Floorplan Master Owner Trust A Series 2019-4, Class A
	1,125,000		2.440		09/15/26	1,200,062
Ford Credit Floorplan Master Owner Trust A Series 2020-2, Class A
	1,600,000		1.060		09/15/27	1,620,551
Ford Credit Floorplan Master Owner Trust Series 2018-3, Class A1
	3,250,000		3.520		10/15/23	3,331,423
GMF Floorplan Owner Revolving Trust Series 2019-2, Class A^(b)
	1,500,000		2.900		04/15/26	1,614,891


Principal Amount		Interest Rate			Maturity Date	Value

Asset-Backed Securities – (continued)
Automotive – (continued)
GMF Floorplan Owner Revolving Trust Series 2020-2, Class A^(b)
$	1,500,000		0.690	%	10/15/25	$ 1,510,246
NextGear Floorplan Master Owner Trust Series 2018-1A, Class A1^(b)(c)(1M USD LIBOR + 0.640%)
	1,750,000		0.799		02/15/23	1,750,843

						25,708,364

Credit Card – 2.7%
American Express Credit Account Master Trust Series 2019-2, Class A
	2,050,000		2.670		11/15/24	2,114,170
Capital One Multi-Asset Execution Trust Series 2016-A5, Class A5
	2,100,000		1.660		06/17/24	2,118,537
Evergreen Credit Card Trust Series 2019-1, Class A^(b)(c) (1M USD LIBOR + 0.480%)
	6,300,000		0.639		01/15/23	6,300,319
Evergreen Credit Card Trust Series 2019-2, Class A^(b)
	2,900,000		1.900		09/16/24	2,977,113
Master Credit Card Trust II Series 2020-1A, Class A^(b)
	3,600,000		1.990		09/21/24	3,730,826
Trillium Credit Card Trust II Series 2019-2A, Class A^(b)
	3,450,000		3.038		01/26/24	3,455,464

						20,696,429

Home Equity^(c) – 0.0%
Centex Home Equity Loan Trust Series 2004-D, Class MV3 (1M USD LIBOR + 1.500%)
	47,408		1.648		09/25/34	42,923

Student Loan^(c) – 2.5%
Access Group, Inc. Series 2013-1, Class A^(b) (1M USD LIBOR + 0.500%)
	953,943		0.648		02/25/36	945,045
ECMC Group Student Loan Trust Series 2017-1A, Class A^(b) (1M USD LIBOR + 1.200%)
	1,498,487		1.348		12/27/66	1,504,975
Educational Services of America, Inc. Series 2014-1, Class A^(b) (1M USD LIBOR + 0.700%)
	968,348		0.848		02/25/39	961,099
Illinois Student Assistance Commission Series 2010-1, Class A3 (3M USD LIBOR + 0.900%)
	1,056,146		1.115		07/25/45	1,049,431
Navient Student Loan Trust Series 2017-2A, Class A^(b) (1M USD LIBOR + 1.050%)
	2,387,888		1.198		12/27/66	2,408,805

GOLDMAN SACHS ENHANCED INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Asset-Backed Securities – (continued)
Student Loan^(c) – (continued)
Navient Student Loan Trust Series 2017-4A, Class A2^(b) (1M USD LIBOR + 0.500%)
$	1,215,262		0.648	%	09/27/66	$ 1,212,230
Nelnet Student Loan Trust Series 2012-3A, Class A^(b) (1M USD LIBOR + 0.700%)
	3,062,258		0.848		02/25/45	3,021,188
Northstar Education Finance, Inc. Series 2012-1, Class A^(b) (1M USD LIBOR + 0.700%)
	626,913		0.848		12/26/31	628,897
PHEAA Student Loan Trust Series 2014-3A, Class A^(b) (1M USD LIBOR + 0.590%)
	4,408,848		0.738		08/25/40	4,392,838
SLC Student Loan Center Series 2011-1, Class A^(b) (1M USD LIBOR + 1.220%)
	1,707,877		1.368		10/25/27	1,713,704
SLM Student Loan Trust Series 2007-1, Class A5 (3M USD LIBOR + 0.090%)
	895,204		0.305		01/26/26	894,726
South Texas Higher Education Authority, Inc. Series 2012-1, Class A2 (3M USD LIBOR + 0.850%)
	110,494		1.075		10/01/24	110,561

						18,843,499

Student Loan^(b)(c) – 0.2%
Higher Education Funding I Series 2014-1, Class A (3M USD LIBOR + 1.050%)
	1,146,247		1.257		05/25/34	1,148,460

TOTAL ASSET-BACKED SECURITIES (Cost $66,040,914)						$ 66,439,675



U.S. Treasury Obligations – 2.5%
United States Treasury Inflation Indexed Note
$	5,774,679		0.125	%	07/15/22	$ 5,954,997
United States Treasury Notes
	155,000		1.375	^(e)	04/30/21	155,624
	210,000		2.875		10/15/21	214,503
	12,060,000		2.875	^(e)	10/31/23	12,983,343

TOTAL U.S. TREASURY OBLIGATIONS (Cost $18,656,398)						$ 19,308,467


Shares		Description				Value

Exchange Traded Fund – 4.0%
	961,084		SPDR Portfolio Short Term Corporate Bond ETF			$ 30,178,038
(Cost $30,180,440)


Shares		Dividend Rate				Value

Investment Companies^(f) – 1.0%
Goldman Sachs Financial Square Government Fund - Institutional Shares
	7,286,914		0.026%			$ 7,286,914
Goldman Sachs Financial Square Money Market Fund - Institutional Shares
	9,096		0.016			9,103

TOTAL INVESTMENT COMPANIES (Cost $7,296,003)						$ 7,296,017

TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENT (Cost $517,469,001)						$526,450,480


Principal Amount		Interest Rate			Maturity Date	Value

Short-term Investments – 27.8%
Certificates of Deposit – 12.2%
Bank of Montreal/Chicago IL ^(c) (3M USD LIBOR + 0.050%)
$	7,000,000		0.270	%	02/04/21	$ 7,000,408
Barclays Bank PLC^(c)(3M USD LIBOR + 0.450%)
	5,000,000		0.666		08/03/21	5,002,894
Bayerische Landesbank^(c) (3M USD LIBOR + 0.470%)
	3,000,000		0.686		02/03/22	3,003,894
Bell Canada, Inc.^(b)(g)
	9,500,000		0.000		01/19/21	9,499,253
Chariot Funding LLC^(b)(g)
	5,000,000		0.000		01/14/21	4,999,706
Commonwealth Bank of Australia^(b)(g)
	7,500,000		0.000		02/17/21	7,498,620
Consolidated Edison Co. of New York, Inc.^(b)(g)
	7,000,000		0.000		02/26/21	6,997,163
Credit Agricole Corporate & Investment Bank^(c) (3M USD LIBOR + 0.480%)
	3,000,000		0.710		09/10/21	3,007,714
HSBC Bank USA NA
	4,600,000		0.330		12/24/21	4,599,225
Intercontinental Exchange, Inc.^(b)(g)
	4,000,000		0.000		06/24/21	3,990,816
Ionic Capital II Trust^(g)
	2,584,000		0.000		01/08/21	2,583,891
Suncor Energy, Inc.^(b)(g)
	3,250,000		0.000		01/19/21	3,249,686
	4,000,000		0.000		03/15/21	3,997,788
Svenska Handelsbanken AB^(b)(c)
	5,000,000		0.269		09/21/21	4,999,287

GOLDMAN SACHS ENHANCED INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Short-term Investments – (continued)
Certificates of Deposit – (continued)
Toronto Dominion Bank^(b)(g)
$	10,000,000		0.000	%	03/10/21	$ 9,995,917
Versailles Cds Llc^(b)(g)
	4,000,000		0.000		03/15/21	3,998,035
Westpac Banking Corp.
	5,000,000		0.000	^(b)(g)	03/15/21	4,998,160
(3M USD LIBOR + 0.090%)
	3,000,000		0.346	^(b)(c)	05/28/21	3,000,959

						92,423,416

Commercial Paper – 15.6%
Agilent Technologies, Inc.^(b)(g)
	3,000,000		0.000		01/13/21	2,999,827
Albion Capital Corp.^(b)(g)
	6,000,000		0.000		02/22/21	5,998,225
Fidelity National Information Services, Inc.^(b)(g)
	7,500,000		0.000		01/06/21	7,499,838
Gotham Fdg Corp. ^(b)(g)
	7,000,000		0.000		02/26/21	6,997,373
Ionic Capital II Trust
	9,500,000		0.000		02/26/21	9,496,149
Landesbank Baden-Wuerttemberg
	1,000,000		0.250		02/08/21	1,000,041
	6,000,000		0.000	^(g)	02/24/21	5,997,864
Lime Funding^(b)(g)
	4,992,000		0.000		02/19/21	4,990,336
Lloyds Bank Corporate Markets PLC^(c)
	6,500,000		0.317		09/15/21	6,498,653
Macquarie Bank Ltd.^(b)(g)
	6,500,000		0.000		03/02/21	6,497,676
	3,500,000		0.000		03/15/21	3,498,388
Matchpoint Finance Plc^(b)(g)
	7,000,000		0.000		03/08/21	6,996,939
Natixis SA^(c)
	5,000,000		0.360		12/09/21	5,000,000
Nieuw Amsterdam Receivables Corp.^(b)(g)
	7,000,000		0.000		02/05/21	6,998,474
Nordea Bank ABP^(c)(3M USD LIBOR + 0.320%)
	2,270,000		0.545		05/05/21	2,271,871


Principal Amount		Interest Rate			Maturity Date	Value

Short-term Investments – (continued)
Commercial Paper – (continued)
Norinchukin Bank NY
$	4,000,000		0.240	%	03/02/21	$ 4,000,522
	3,500,000		0.260		03/26/21	3,500,140
	4,000,000		0.300		05/27/21	4,000,341
Simon Property Group LP^(b)(g)
	10,000,000		0.000	%	01/27/21	9,999,055
Societe Generale SA^(b)(g)
	8,000,000		0.000		12/13/21	7,972,392
Standard Chartered Bank^(c)
	2,500,000		0.311		06/29/21	2,499,640
Sumitomo Mitsui Banking Corp.^(c) (3M USD LIBOR + 0.350%)
	4,190,000		0.580		07/16/21	4,196,026

						118,909,770

TOTAL SHORT-TERM INVESTMENTS (Cost $211,304,642)						$211,333,186

TOTAL INVESTMENTS – 97.2% (Cost $728,773,643)						$737,783,666

OTHER ASSETS IN EXCESS OF LIABILITIES – 2.8%						21,157,462

NET ASSETS – 100.0%						$758,941,128



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

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

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

(c)		Variable rate security. Except for floating rate notes (for which final maturity is disclosed), maturity date disclosed is the next interest reset date. Interest rate disclosed is that which is in effect on December 31, 2020.

(d)		Coupon changes periodically based upon a predetermined schedule. Interest rate disclosed is that which is in effect on December 31, 2020.

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

(f)		Represents an affiliated issuer.

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



Currency Abbreviations:
USD		— U.S. Dollar

Investment Abbreviations:
BP		— British Pound Offered Rate
CMT		— Constant Maturity Treasury Indexes
ETF		— Exchange Traded Fund
LIBOR		— London Interbank Offered Rate
LLC		— Limited Liability Company
LP		— Limited Partnership
PLC		— Public Limited Company
SOFR		— Secured Overnight Funding Rate


For information on the mutual funds, please call our toll free Shareholder Services Line at 1-800-526-7384 or visit us on the web at www.GSAMFUNDS.com.

GOLDMAN SACHS ENHANCED INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FUTURES CONTRACTS — At December 31, 2020, the Fund had the following futures contracts:


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

Long position contracts:
2 Year U.S. Treasury Notes	54	03/31/21	$	11,932,735		$	10,936

Short position contracts:
5 Year U.S. Treasury Notes	(614)	03/31/21		(77,464,735	)		(154,306	)

TOTAL FUTURES CONTRACTS						$	(143,370	)

GOLDMAN SACHS GOVERNMENT INCOME FUND

Schedule of Investments

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – 47.8%
Collateralized Mortgage Obligations – 0.8%
Interest Only^(a) – 0.0%
FNMA STRIPS Series 151, Class 2
$	36		9.500	%	07/25/22	$ 2

Inverse Floaters^(b) – 0.0%
GNMA REMIC Series 2002-13, Class SB (-1x1M USD LIBOR + 37.567%)
	10,364		36.852		02/16/32	14,117

Sequential Fixed Rate – 0.7%
FHLMC REMIC Series 2329, Class ZA
	257,390		6.500		06/15/31	292,986
FHLMC REMIC Series 4246, Class PT
	80,885		6.500		02/15/36	95,883
FHLMC REMIC Series 4273, Class PD
	437,482		6.500		11/15/43	528,366
FNMA REMIC Series 2011-52, Class GB
	411,731		5.000		06/25/41	471,185
FNMA REMIC Series 2011-99, Class DB
	405,728		5.000		10/25/41	463,158
FNMA REMIC Series 2012-111, Class B
	51,422		7.000		10/25/42	63,256
FNMA REMIC Series 2012-153, Class B
	218,916		7.000		07/25/42	275,153

						2,189,987

Sequential Floating Rate^(b) – 0.1%
Angel Oak Mortgage Trust I LLC Series 2018-2, Class A1^(c)
	303,624		3.674		07/27/48	309,542
FHLMC REMIC Series 1760, Class ZB (10 Year CMT - 0.600%)
	27,700		0.270		05/15/24	27,513
Merrill Lynch Mortgage Investors Trust Series 2004-E, Class A2B (6M USD LIBOR + 0.720%)
	94,877		0.992		11/25/29	89,545

						426,600

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS						$ 2,630,706

Commercial Mortgage-Backed Securities – 0.6%
Sequential Fixed Rate – 0.6%
BANK Series 2019-BN24, Class A3
$	1,400,000		2.960	%	11/15/62	$ 1,562,442
BANK Series 2020-BN29, Class A4
	600,000		1.997		11/15/53	621,310

TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES						$ 2,183,752


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Federal Agencies – 46.4%
Adjustable Rate FHLMC^(b) – 0.1%
(1 Year CMT + 2.224%)
$	3,086		2.349	%	11/01/32	$ 3,244
(1 Year CMT + 2.250%)
	242,258		2.513		09/01/33	254,312

						257,556

Adjustable Rate FNMA^(b) – 0.3%
(1 Year CMT + 2.196%)
	158,110		3.464		02/01/35	166,506
(1 Year CMT + 2.226%)
	7,913		3.037		06/01/33	8,326
(12M USD LIBOR + 1.500%)
	204,463		2.004		09/01/35	213,872
(12M USD LIBOR + 1.650%)
	272,413		2.150		10/01/33	284,656
(12M USD LIBOR + 1.670%)
	16,741		2.045		11/01/32	17,462
(6M USD LIBOR + 1.413%)
	325,009		1.663		05/01/33	334,905

						1,025,727

Adjustable Rate GNMA^(b) – 0.3%
(1 Year CMT + 1.500%)
	11,901		2.875		06/20/23	12,061
	5,804		2.250		07/20/23	5,892
	5,637		2.250		08/20/23	5,725
	12,861		2.250		09/20/23	13,005
	4,776		3.000		03/20/24	4,845
	44,106		2.875		04/20/24	44,881
	6,172		2.875		05/20/24	6,302
	51,774		2.875		06/20/24	52,637
	30,913		2.250		07/20/24	31,379
	42,412		2.250		08/20/24	43,035
	13,175		2.250		09/20/24	13,355
	17,307		3.125		11/20/24	17,604
	20,157		3.125		12/20/24	20,612
	11,532		3.000		01/20/25	11,752
	7,192		3.000		02/20/25	7,331
	27,885		2.875		05/20/25	28,494
	23,377		2.250		07/20/25	23,847
	10,193		3.000		02/20/26	10,386
	515		2.250		07/20/26	525
	26,668		3.000		01/20/27	27,274
	11,399		3.000		02/20/27	11,639
	88,139		2.875		04/20/27	90,142
	9,199		2.875		05/20/27	9,409
	13,188		2.875		06/20/27	13,492
	4,826		3.125		11/20/27	4,925
	13,937		3.125		12/20/27	14,225
	30,025		3.000		01/20/28	30,707
	9,516		3.000		02/20/28	9,730
	11,273		3.000		03/20/28	11,532

GOLDMAN SACHS GOVERNMENT INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Adjustable Rate GNMA^(b) – (continued)
$	47,098		2.250	%	07/20/29	$ 48,159
	26,799		2.250		08/20/29	27,392
	6,158		2.250		09/20/29	6,301
	27,168		3.125		10/20/29	27,809
	39,716		3.125		11/20/29	40,656
	7,239		3.125		12/20/29	7,407
	10,386		3.000		01/20/30	10,654
	4,415		3.000		02/20/30	4,530
	28,488		3.000		03/20/30	29,231
	30,676		2.875		04/20/30	31,520
	84,617		2.875		05/20/30	87,281
	8,992		2.875		06/20/30	9,237
	68,109		2.250		07/20/30	70,393
	14,056		2.250		09/20/30	14,531
	23,536		3.125		10/20/30	24,123
	43,168		3.000		03/20/32	44,404

						1,060,371

FHLMC – 1.0%
	1,096		6.500		07/01/21	1,106
	312		6.500		08/01/22	320
	6,091		9.000		10/01/22	6,106
	25,053		4.500		10/01/23	27,078
	16,424		6.500		07/01/28	17,434
	202,986		4.500		03/01/29	222,269
	3,468		8.000		07/01/30	3,804
	10,204		5.000		08/01/33	11,650
	1,817		5.000		09/01/33	2,074
	4,046		5.000		10/01/33	4,620
	2,522		5.000		11/01/34	2,886
	141,812		5.000		12/01/34	162,288
	6,871		5.000		07/01/35	7,863
	530		5.000		11/01/35	605
	14,268		5.000		12/01/35	16,407
	19,785		5.000		02/01/37	22,606
	1,709		5.000		03/01/38	1,952
	77,619		5.000		07/01/39	89,534
	11,289		4.000		06/01/40	12,450
	4,646		5.000		08/01/40	5,357
	1,348		4.500		11/01/40	1,507
	90,703		4.000		02/01/41	100,065
	1,246		5.000		04/01/41	1,436
	3,951		5.000		06/01/41	4,550
	181,688		5.000		07/01/41	206,276
	5,932		4.000		11/01/41	6,578
	9,207		3.000		05/01/42	9,826
	11,910		3.000		08/01/42	12,710
	12,976		3.000		01/01/43	13,863
	51,897		3.000		02/01/43	55,690
	1,012,076		4.000		03/01/48	1,087,427
	1,069,485		4.000		04/01/48	1,140,699

						3,259,036

FNMA – 0.1%
	3,165		6.500		11/01/28	3,501
	30,783		7.000		07/01/31	36,546
	328,118		5.500		07/01/33	382,830

						422,877

GNMA – 27.9%
	26,466		7.000		12/15/27	29,173
	8,094		6.500		08/15/28	8,838


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
GNMA – (continued)
$	54,686		6.000	%	01/15/29	$ 60,964
	73,451		7.000		10/15/29	81,599
	29,831		5.500		11/15/32	33,394
	493,027		5.500		12/15/32	560,345
	19,094		5.500		01/15/33	20,835
	34,368		5.500		02/15/33	38,911
	36,595		5.500		03/15/33	41,387
	43,123		5.500		07/15/33	48,949
	16,436		5.500		08/15/33	18,388
	9,536		5.500		09/15/33	10,642
	21,248		5.500		04/15/34	23,677
	8,689		5.500		05/15/34	9,416
	221,972		5.500		06/15/34	252,568
	164,632		5.500		09/15/34	187,474
	174,641		5.500		12/15/34	198,655
	115,522		5.500		01/15/35	131,913
	61,299		5.000		03/15/38	68,147
	5,061		4.000		02/20/41	5,598
	7,901		4.000		11/20/41	8,730
	1,314		4.000		01/20/42	1,452
	4,209		4.000		04/20/42	4,651
	2,576		4.000		10/20/42	2,839
	309,181		4.000		08/20/43	340,271
	4,242		4.000		03/20/44	4,669
	5,134		4.000		05/20/44	5,640
	357,125		4.000		11/20/44	392,366
	1,607,676		4.000		06/20/45	1,763,309
	393,752		4.000		01/20/46	431,131
	1,601,144		3.500		04/20/47	1,720,924
	377,648		4.500		02/20/48	410,809
	1,607,510		4.500		05/20/48	1,739,624
	879,570		4.500		08/20/48	950,484
	221,844		5.000		08/20/48	243,200
	6,225,584		4.500		09/20/48	6,727,509
	1,924,935		5.000		10/20/48	2,109,642
	1,137,313		5.000		11/20/48	1,244,666
	1,745,549		5.000		12/20/48	1,910,316
	1,689,231		4.500		01/20/49	1,823,179
	2,526,390		5.000		01/20/49	2,762,296
	2,673,483		4.000		02/20/49	2,862,323
	1,024,573		4.000		03/20/49	1,096,623
	264,836		4.500		03/20/49	285,754
	1,486,429		5.000		03/20/49	1,623,601
	1,023,011		4.000		05/20/49	1,093,992
	3,133,039		4.500		10/20/49	3,374,153
	717,347		4.500		12/20/49	769,041
	35,000,000		2.000		TBA-30yr^(d)	36,599,356
	7,000,000		2.500		TBA-30yr^(d)	7,406,738
	9,000,000		3.000		TBA-30yr^(d)	9,410,351
	3,000,000		3.500		TBA-30yr^(d)	3,179,112

						94,129,624

UMBS – 8.6%
	36,073		5.500		02/01/23	36,887
	54,275		5.000		06/01/23	60,021
	456,743		5.000		08/01/23	503,613
	75,290		5.500		08/01/23	78,434
	1,029		4.500		07/01/36	1,150
	1,526		4.500		04/01/39	1,708

GOLDMAN SACHS GOVERNMENT INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
UMBS – (continued)
$	6,912		4.500	%	05/01/39	$ 7,742
	3,032		4.000		08/01/39	3,343
	14,068		4.500		08/01/39	15,788
	255,584		4.500		12/01/39	286,771
	12,959		4.500		01/01/41	14,484
	99,611		4.500		05/01/41	111,342
	72,709		4.500		08/01/41	81,267
	96,436		4.500		08/01/42	109,233
	13,303		3.000		11/01/42	14,574
	144,834		3.000		12/01/42	158,677
	362,267		3.000		01/01/43	397,026
	65,493		3.000		02/01/43	71,835
	436,213		3.000		03/01/43	478,449
	720,339		3.000		04/01/43	790,086
	473,944		3.000		05/01/43	519,836
	90,178		3.000		06/01/43	98,909
	719,580		3.000		07/01/43	789,928
	1,338,316		4.500		10/01/44	1,493,662
	843,731		4.500		04/01/45	963,336
	96,676		4.500		05/01/45	110,441
	465,185		4.500		06/01/45	519,181
	430,869		4.000		11/01/45	469,568
	128,923		4.000		03/01/46	140,286
	11,021		4.500		05/01/46	12,067
	81,761		4.000		06/01/46	88,843
	22,368		4.000		08/01/46	24,306
	128,818		4.500		08/01/46	140,920
	141,697		4.000		10/01/46	153,972
	51,796		4.500		06/01/47	58,588
	1,396,907		4.500		11/01/47	1,542,108
	398,509		4.000		12/01/47	438,308
	398,461		4.000		01/01/48	437,882
	1,362,233		4.000		02/01/48	1,493,744
	1,054,961		4.000		03/01/48	1,153,068
	1,220,410		4.000		06/01/48	1,339,623
	404,388		4.000		08/01/48	441,488
	1,852,793		5.000		11/01/48	2,112,057
	944,931		4.500		03/01/49	1,023,072
	2,000,000		3.000		09/01/49	2,158,652
	3,543,791		5.000		10/01/49	3,925,683
	981,679		3.000		07/01/50	1,036,973
	994,317		3.000		08/01/50	1,050,443
	2,000,000		3.000		12/01/50	2,156,152

						29,115,526

UMBS, 30 Year, Single Family^(d) – 8.1%
	6,000,000		3.500		TBA-30yr	6,343,127
	5,000,000		2.000		TBA-30yr	5,197,633
	2,000,000		4.000		TBA-30yr	2,135,781
	4,000,000		4.500		TBA-30yr	4,335,000
	9,000,000		3.000		TBA-30yr	9,429,250

						27,440,791

TOTAL FEDERAL AGENCIES						$156,711,508

TOTAL MORTGAGE-BACKED OBLIGATIONS (Cost $158,346,466)						$161,525,966


Principal Amount		Interest Rate			Maturity Date	Value

Agency Debentures – 25.0%
FFCB
$	2,180,000		3.430	%	12/06/28	$ 2,567,495
	720,000		5.270		05/01/29	945,029
FHLB
	3,700,000		2.125		06/09/23	3,875,602
	2,100,000		3.375		09/08/23	2,276,694
	300,000		3.375		12/08/23	327,681
	15,150,000		0.500		04/14/25	15,246,657
FHLMC
	16,670,000		0.375		04/20/23	16,752,183
FNMA
	1,400,000		1.875		09/24/26	1,513,288
	2,600,000		6.250		05/15/29	3,704,012
	2,000,000		0.875		08/05/30	1,961,960
	4,000,000		6.625		11/15/30	6,053,040
Israel Government AID Bond^(e)
	500,000		5.500		12/04/23	575,465
	700,000		5.500		04/26/24	819,280
New Valley Generation V
	727,495		4.929		01/15/21	728,499
Tennessee Valley Authority
	6,500,000		3.875		02/15/21	6,527,755
	20,150,000		0.750		05/15/25	20,437,742

TOTAL AGENCY DEBENTURES (Cost $81,553,012)						$ 84,312,382



Asset-Backed Securities – 3.4%
Automotive – 1.4%
Ally Master Owner Trust Series 2018-1, Class A2
$	4,100,000		2.700	%	01/17/23	$ 4,102,518
Chesapeake Funding II LLC Series 2017-2A, Class A1^(c)
	63,223		1.990		05/15/29	63,223
Ford Credit Auto Owner Trust Series 2016-2, Class A^(c)
	400,000		2.030		12/15/27	403,427

						4,569,168

Collateralized Loan Obligation^(b)(c) – 0.3%
Towd Point Mortgage Trust Series 2017-4, Class A2
	1,030,153		3.000		06/25/57	1,119,523

GOLDMAN SACHS GOVERNMENT INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Asset-Backed Securities – (continued)
Student Loan^(b) – 1.7%
ECMC Group Student Loan Trust Series 2018-2A, Class A^(c) (1M USD LIBOR + 0.800%)
$	1,168,694		0.948	%	09/25/68	$ 1,159,227
Higher Education Funding I Series 2014-1, Class A^(c) (3M USD LIBOR + 1.050%)
	1,011,394		1.257		05/25/34	1,013,347
Navient Student Loan Trust Series 2017-4A, Class A2^(c) (1M USD LIBOR + 0.500%)
	616,700		0.648		09/27/66	615,161
PHEAA Student Loan Trust Series 2016-1A, Class A^(c) (1M USD LIBOR + 1.150%)
	959,886		1.298		09/25/65	969,568
Scholar Funding Trust Series 2013-A, Class A^(c) (1M USD LIBOR + 0.650%)
	1,385,436		0.798		01/30/45	1,364,824
SLM Student Loan Trust Series 2008-5, Class A4 (3M USD LIBOR + 1.700%)
	667,566		1.915		07/25/23	671,863

						5,793,990

TOTAL ASSET-BACKED SECURITIES (Cost $11,441,796)						$ 11,482,681



Municipal Debt Obligations – 1.1%
Alaska^(b) – 0.4%
Alaska State Student Loan Corp. Series 2013, Class A (1M USD LIBOR + 0.000%)
$	1,303,420		0.648	%	08/25/31	$ 1,287,600

New Jersey – 0.7%
New Jersey Economic Development Authority Series A
	2,000,000		7.425		02/15/29	2,577,820

TOTAL MUNICIPAL DEBT OBLIGATIONS (Cost $3,299,488)						$ 3,865,420



U.S. Treasury Obligations – 23.9%
United States Treasury Bond
$	5,080,000		2.750	%	11/15/47	$ 6,373,019
United States Treasury Bonds
	900,000		3.125		11/15/41	1,175,906
	3,500,000		3.750		11/15/43	5,033,984
	3,830,000		3.625	^(f)	02/15/44	5,418,253
	9,390,000		3.375		05/15/44	12,832,022


Principal Amount			Interest Rate			Maturity Date	Value

U.S. Treasury Obligations – (continued)
United States Treasury Bonds – (continued)
$		3,320,000		3.125	%	08/15/44	$ 4,375,138
		6,400,000		2.875		11/15/46	8,173,000
		980,000		3.375		11/15/48	1,375,675
		630,000		2.000		02/15/50	683,944
		3,500,000		1.625		11/15/50	3,481,953
United States Treasury Inflation Indexed Notes
		3,317,610		0.125		07/15/22	3,421,204
United States Treasury Notes
		7,140,000		0.250		12/31/25	7,144,462
		3,090,000		1.625		09/30/26	3,293,264
		7,040,000		0.625		12/31/27	7,029,000
		150,000		0.625		05/15/30	$146,602
United States Treasury Strip Coupon^(g)
		6,400,000		0.000		11/15/35	5,213,847
		1,300,000		0.000		05/15/36	1,048,260
		6,000,000		0.000		11/15/37	4,684,664

TOTAL U.S. TREASURY OBLIGATIONS (Cost $71,238,953)							$ 80,904,197


	Shares		Dividend Rate				Value

Investment Company^(h) – 23.7%
Goldman Sachs Financial Square Government Fund - Institutional Shares
		79,933,781		0.026%			$ 79,933,781
(Cost $79,933,781)

TOTAL INVESTMENTS – 124.9% (Cost $405,813,496)							$422,024,427

LIABILITIES IN EXCESS OF OTHER ASSETS – (24.9)%							(84,163,423)

NET ASSETS – 100.0%							$337,861,004



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

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

(b)		Variable rate security. Except for floating rate notes (for which final maturity is disclosed), maturity date disclosed is the next interest reset date. Interest rate disclosed is that which is in effect on December 31, 2020.

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

GOLDMAN SACHS GOVERNMENT INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)



(d)		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 $84,036,348 which represents approximately 24.9% of the Fund’s net assets as of December 31, 2020.

(e)		Guaranteed by the United States Government until maturity. Total market value for these securities amounts to $1,394,745, which represents approximately 0.4% of the Fund’s net assets as of December 31, 2020.

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

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

(h)		Represents an affiliated issuer.



Currency Abbreviations:
USD		— U.S. Dollar

Investment Abbreviations:
CMT		— Constant Maturity Treasury Indexes
FFCB		— Federal Farm Credit Bank
FHLB		— Federal Home Loan Bank
FHLMC		— Federal Home Loan Mortgage Corp.
FNMA		— Federal National Mortgage Association
GNMA		— Government National Mortgage Association
LIBOR		— London Interbank Offered Rate
LLC		— Limited Liability Company
REMIC		— Real Estate Mortgage Investment Conduit
STRIPS		— Separate Trading of Registered Interest and Principal of Securities


For information on the mutual funds, please call our toll free Shareholder Services Line at 1-800-526-7384 or visit us on the web at www.GSAMFUNDS.com.

GOLDMAN SACHS GOVERNMENT INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FORWARD SALES CONTRACTS — At December 31, 2020, the Fund had the following forward sales contracts:


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

GNMA		4.000	%	TBA-30yr	01/21/21	$	(4,000,000)	$	(4,264,062)
GNMA		4.500		TBA-30yr	01/21/21		(1,000,000)		(1,073,125)

TOTAL (Proceeds Receivable: $5,328,438)								$	(5,337,187)

(a)

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

FUTURES CONTRACTS — At December 31, 2020, the Fund had the following futures contracts:


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

Long position contracts:
Ultra 10 Year U.S. Treasury Notes	61	03/22/21	$	9,537,922		$	(26,873	)
2 Year U.S. Treasury Notes	57	03/31/21		12,595,664			11,083
10 Year U.S. Treasury Notes	137	03/22/21		18,916,703			16,076

Total						$	286

Short position contracts:
Ultra Long U.S. Treasury Bonds	(36)	03/22/21		(7,688,250	)		43,866
5 Year U.S. Treasury Notes	(68)	03/31/21		(8,579,156	)		(1,785	)
20 Year U.S. Treasury Bonds	(194)	03/22/21		(33,598,375	)		294,903

Total						$	336,984

TOTAL FUTURES CONTRACTS						$	337,270

SWAP CONTRACTS — At December 31, 2020, the Fund had the following swap contracts:

CENTRALLY CLEARED INTEREST RATE SWAP CONTRACTS


Payments Made by the Fund	Payments Received by Fund	Termination Date		Notional Amount (000s)			Market Value			Upfront Premium (Received) Paid			Unrealized Appreciation/ (Depreciation)

1M LIBOR + 0.090%^(a)	3M LIBOR^(a)		07/25/24	$	18,560		$	(6,231	)	$	6,240		$	(12,471	)
3MSOFR^(a)	3M LIBOR^(a)		11/10/24		11,010			(9,534	)		10			(9,544	)
3M LIBOR^(a)	0.500^(b)		03/17/26		80	^(c)		159			55			104
3M LIBOR^(a)	1.245^(b)		11/24/30		5,440	^(c)		(46,100	)		(18,358	)		(27,742	)
1.543^(b)	3M LIBOR^(a)		11/25/35		5,930	^(c)		59,588			18,643			40,945

TOTAL							$	(2,118	)	$	6,590		$	(8,708	)

(a)

Payments made quarterly.

(b)

Payments made semi-annually.

(c)

Represents forward starting interest rate swaps whose effective dates of commencement of accruals and cash flows occur subsequent to December 31, 2020.

GOLDMAN SACHS GOVERNMENT INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

PURCHASED AND WRITTEN OPTIONS CONTRACTS — At December 31, 2020, the Fund had the following purchased and written options:

OVER-THE-COUNTERINTEREST RATE SWAPTIONS


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

Purchased option contracts
Calls
6M IRS	JPMorgan Securities, Inc.		1.100	%		03/17/2021		9,000,000	$	9,000,000		$	18,304		$	108,000		$	(89,696	)

Puts
6M IRS	JPMorgan Securities, Inc.		0.555			06/17/2021		9,690,000		9,690,000			41,769			43,278			(1,509	)

Total purchased option contracts								18,690,000	$	18,690,000		$	60,073		$	151,278		$	(91,205	)

Written option contracts
Calls
3M IRS	Deutsche Bank AG (London)		0.280			01/06/2021		(9,300,000)		(9,300,000	)		(2	)		(10,230	)		10,228
3M IRS	Deutsche Bank AG (London)		0.310			01/20/2021		(9,320,000)		(9,320,000	)		(1,405	)		(10,718	)		9,313
6M IRS	JPMorgan Securities, Inc.		0.700			03/17/2021		(9,000,000)		(9,000,000	)		(2,981	)		(41,085	)		38,104
6M IRS	JPMorgan Securities, Inc.		0.900			03/17/2021		(9,000,000)		(9,000,000	)		(7,647	)		(72,000	)		64,353

								(36,620,000)	$	(36,620,000	)	$	(12,035	)	$	(134,033	)	$	121,998

Puts
3M IRS	Deutsche Bank AG (London)		0.480			01/06/2021		(9,300,000)		(9,300,000	)		(788	)		(23,483	)		22,695
3M IRS	Deutsche Bank AG (London)		0.510			01/20/2021		(9,320,000)		(9,320,000	)		(4,218	)		(26,096	)		21,878
6M IRS	JPMorgan Securities, Inc.		0.659			06/17/2021		(9,690,000)		(9,690,000	)		(26,542	)		(26,299	)		(243	)
6M IRS	JPMorgan Securities, Inc.		0.763			06/17/2021		(9,690,000)		(9,690,000	)		(17,236	)		(16,980	)		(256	)

								(38,000,000)	$	(38,000,000	)	$	(48,784	)	$	(92,858	)	$	44,074

Total written option contracts								(74,620,000)	$	(74,620,000	)	$	(60,819	)	$	(226,891	)	$	166,072

TOTAL								(55,930,000)	$	(55,930,000	)	$	(746	)	$	(75,613	)	$	74,867



Abbreviations:
3M IRS		— 3 Months Interest Rate Swaptions
6M IRS		— 6 Months Interest Rate Swaptions

GOLDMAN SACHS HIGH QUALITY FLOATING RATE FUND

Schedule of Investments

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – 32.1%
Collateralized Mortgage Obligations – 23.8%
Regular Floater^(a) – 23.3%
FHLMC REMIC Series 3371, Class FA (1M USD LIBOR + 0.600%)
$	468,282		0.759	%	09/15/37	$ 475,562
FHLMC REMIC Series 3374, Class FT (1M USD LIBOR + 0.300%)
	86,081		0.459		04/15/37	86,347
FHLMC REMIC Series 3545, Class FA (1M USD LIBOR + 0.850%)
	98,685		1.009		06/15/39	100,444
FHLMC REMIC Series 4316, Class FY (1M USD LIBOR + 0.400%)
	352,014		0.559		11/15/39	352,173
FHLMC REMIC Series 4477, Class FG (1M USD LIBOR + 0.300%)
	1,854,647		0.449		10/15/40	1,847,065
FHLMC REMIC Series 4508, Class CF (1M USD LIBOR + 0.400%)
	1,868,845		0.559		09/15/45	1,884,004
FHLMC REMIC Series 4751, Class FA (1M USD LIBOR + 0.250%)
	6,001,275		0.409		03/15/39	6,015,306
FHLMC REMIC Series 4936, Class FL (1M USD LIBOR + 0.500%)
	2,117,710		0.648		12/25/49	2,128,429
FHLMC STRIPS Series 237, Class F23 (1M USD LIBOR + 0.400%)
	169,655		0.559		05/15/36	170,976
FHLMC STRIPS Series 350, Class F2 (1M USD LIBOR + 0.350%)
	7,363,391		0.499		09/15/40	7,397,294
FNMA REMIC Series 1998-66, Class FC (1M USD LIBOR + 0.500%)
	6,710		0.653		11/17/28	6,729
FNMA REMIC Series 2006-72, Class XF (1M USD LIBOR + 0.500%)
	138,042		0.648		08/25/36	139,196
FNMA REMIC Series 2007-33, Class HF (1M USD LIBOR + 0.350%)
	27,327		0.498		04/25/37	27,457
FNMA REMIC Series 2007-36, Class F (1M USD LIBOR + 0.230%)
	553,992		0.378		04/25/37	554,792
FNMA REMIC Series 2008-22, Class FD (1M USD LIBOR + 0.840%)
	267,214		0.988		04/25/48	274,208
FNMA REMIC Series 2009-66, Class FP (1M USD LIBOR + 0.900%)
	8,894,835		1.048		09/25/39	9,072,136
FNMA REMIC Series 2009-75, Class MF (1M USD LIBOR + 1.150%)
	409,831		1.298		09/25/39	420,973
FNMA REMIC Series 2010-123, Class FL (1M USD LIBOR + 0.430%)
	796,581		0.578		11/25/40	802,952
FNMA REMIC Series 2010-8, Class FE (1M USD LIBOR + 0.790%)
	4,485,960		0.938		02/25/40	4,587,997


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Regular Floater^(a) – (continued)
FNMA REMIC Series 2011-110, Class FE (1M USD LIBOR + 0.400%)
$	1,079,043		0.548	%	04/25/41	$ 1,084,004
FNMA REMIC Series 2011-63, Class FG (1M USD LIBOR + 0.450%)
	310,905		0.598		07/25/41	314,885
FNMA REMIC Series 2012-56, Class FG (1M USD LIBOR + 0.500%)
	255,419		0.648		03/25/39	255,511
FNMA REMIC Series 2013-96, Class FW (1M USD LIBOR + 0.400%)
	80,523		0.548		09/25/43	81,160
FNMA REMIC Series 2014-19, Class FA (1M USD LIBOR + 0.400%)
	218,900		0.548		11/25/39	218,971
FNMA REMIC Series 2014-19, Class FJ (1M USD LIBOR + 0.400%)
	277,665		0.548		11/25/39	277,778
FNMA REMIC Series 2017-45, Class FA (1M USD LIBOR + 0.320%)
	4,894,269		0.469		06/25/47	4,873,660
FNMA REMIC Series 2018-72, Class FB (1M USD LIBOR + 0.350%)
	6,157,935		0.498		10/25/58	6,177,564

						49,627,573

Sequential Fixed Rate – 0.2%
FHLMC REMIC Series 4248, Class LM
	364,374		6.500		05/15/41	434,708

Sequential Floating Rate^(a) – 0.3%
FHLMC REMIC Series 3588, Class CW
	574,649		2.545		10/15/37	583,101
FNMA REMIC Series 1997-20, Class F
	23,490		1.566		03/25/27	23,642

						606,743

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $50,464,515 )						$ 50,669,024

Commercial Mortgage-Backed Securities^(a) – 4.3%
Sequential Floating Rate – 4.3%
FHLMC Multifamily Structured Pass-Through Certificates Series KS02, Class A (1M USD LIBOR + 0.380%)
$	245,748		0.533	%	08/25/23	$ 245,796
FHLMC Multifamily Structured Pass-Through Certificates Series KF19, Class A (1M USD LIBOR + 0.450%)
	1,076,159		0.603		06/25/23	1,079,240
FHLMC Multifamily Structured Pass-Through Certificates Series KF31, Class A (1M USD LIBOR + 0.370%)
	1,168,231		0.523		04/25/24	1,170,584
FHLMC Multifamily Structured Pass-Through Certificates Series KF32, Class A (1M USD LIBOR + 0.370%)
	2,184,455		0.523		05/25/24	2,189,792

GOLDMAN SACHS HIGH QUALITY FLOATING RATE FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Sequential Floating Rate – (continued)
FHLMC Multifamily Structured Pass-Through Certificates Series J15L, Class AFL (1M USD LIBOR + 0.350%)
$	1,581,851		0.503	%	08/25/25	$ 1,582,445
FHLMC Multifamily Structured Pass Through Certificates Series KF58, Class A (1M USD LIBOR + 0.500%)
	1,640,580		0.653		01/25/26	1,650,146
FHLMC Multifamily Structured Pass Through Certificates Series KF60, Class A (1M USD LIBOR + 0.490%)
	1,343,952		0.643		02/25/26	1,349,847

TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES (Cost $9,261,914)						$ 9,267,850

Federal Agencies – 4.0%
Adjustable Rate FHLMC – 0.8%
^(a)(3 Year CMT + 2.542%)
$	214,176		3.588	%	08/01/28	$ 216,760
^(a)(6M CMT + 2.268%)
	31,655		3.143		05/01/29	32,289
^(a)(COF + 1.250%)
	4,751		4.035		06/01/29	5,010
^(a)(COF + 1.250%)
	11,209		1.903		04/01/30	11,361
^(a)(COF + 1.248%)
	8,180		4.358		06/01/30	8,679
(COF + 1.198%)
	131		2.448		02/01/31	131
^(a)(12M MTA + 2.155%)
	4,369		3.731		06/01/31	4,576
^(a)(12M USD LIBOR + 1.860%)
	409,210		2.735		05/01/34	429,629
^(a)(12M USD LIBOR + 1.750%)
	364,240		3.472		05/01/35	384,372
^(a)(3 Year CMT + 2.109%)
	4,957		6.162		05/01/35	5,241
^(a)(1 Year CMT + 2.265%)
	590,214		2.701		01/01/38	622,066

						1,720,114

Adjustable Rate FNMA^(a) – 2.9%
(1 Year CMT + 2.000%)
	71		6.750		02/01/22	72
(6M USD LIBOR + 1.750%)
	4,650		2.500		02/01/23	4,690
(6M USD LIBOR + 1.883%)
	47,171		2.749		01/01/24	47,776
(6M USD LIBOR + 1.925%)
	41,547		2.800		03/01/24	42,152
(COF + 1.250%)
	4,034		3.409		06/01/27	4,157
(COF + 1.250%)
	3,078		4.250		12/01/27	3,254
(COF + 1.250%)
	3,083		4.485		01/01/28	3,279


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Adjustable Rate FNMA^(a) – (continued)
(COF + 1.250%)
$	1,626		2.134	%	06/01/29	$ 1,644
(COF + 1.250%)
	3,466		2.200		06/01/29	3,553
(1 Year CMT + 2.266%)
	317,104		2.731		07/01/33	332,255
(1 Year CMT + 2.360%)
	113,253		2.880		11/01/34	119,410
(COF + 1.253%)
	1,766		4.032		05/01/36	1,856
(12M USD LIBOR + 2.003%)
	521,351		3.428		03/01/37	550,284
(12M MTA + 1.400%)
	32,293		2.144		06/01/40	32,936
(12M MTA + 1.200%)
	3,570		1.944		02/01/41	3,629
(12M USD LIBOR + 1.550%)
	134,621		2.300		09/01/44	140,498
(1M USD LIBOR + 0.300%)
	4,773,463		0.448		08/25/48	4,790,091

						6,081,536

Adjustable Rate GNMA^(a) – 0.3%
(1 Year CMT + 1.500%)
	339,307		2.875		04/20/33	349,954
	82,589		2.875		05/20/33	85,110
	226,419		2.250		08/20/34	232,965

						668,029

FHLMC – 0.0%
	337		7.000		04/01/21	337
	1,287		7.000		08/01/21	1,296
	13,019		7.000		05/01/22	13,377
	24,760		7.000		06/01/22	25,334
	371		4.500		05/01/23	383

						40,727

FNMA – 0.0%
	957		4.067		05/20/22	958
	22,813		3.778		06/20/24	22,834

						23,792

GNMA – 0.0%
	11,232		7.000		04/15/26	12,306

UMBS – 0.0%
	1,654		7.000		07/01/21	1,662
	4,610		7.000		11/01/21	4,676
	3,924		7.000		12/01/21	3,928
	7,654		7.000		01/01/22	7,668
	1,248		7.000		02/01/22	1,271

						19,205

TOTAL FEDERAL AGENCIES						$ 8,565,709

TOTAL MORTGAGE-BACKED OBLIGATIONS (Cost $68,310,268)						$ 68,502,583

GOLDMAN SACHS HIGH QUALITY FLOATING RATE FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Asset-Backed Securities^(a) – 44.4%
Automotive – 0.9%
Chesapeake Funding II LLC Series 2017-3A, Class A2^(b) (1M USD LIBOR + 0.340%)
$	422,158		0.499	%	08/15/29	$ 422,170
Ford Credit Floorplan Master Owner Trust A Series 2020-1, Class A2 (1M USD LIBOR + 0.500%)
	1,500,000		0.659		09/15/25	1,511,559

						1,933,729

Collateralized Loan Obligations^(b) – 19.6%
522 Funding CLO I Ltd. Series 2019-4A, Class A (3M USD LIBOR + 1.350%)
	1,600,000		1.568		04/20/30	1,600,102
Anchorage Capital CLO Ltd. Series 2014-4RA, Class A (3M USD LIBOR + 1.050%)
	3,600,000		1.272		01/28/31	3,592,310
Apex Credit CLO II LLC Series 2017-2A, Class A (3M USD LIBOR + 1.270%)
	2,983,185		1.509		09/20/29	2,968,117
CBAM CLO Management LLC Series 2017-2A, Class A (3M USD LIBOR + 1.240%)
	3,500,000		1.458		10/17/29	3,500,102
Cedar Funding VII Clo Ltd. Series 18-7A, Class A1 (3M USD LIBOR + 1.000%)
	3,000,000		1.218		01/20/31	2,981,970
Dryden 64 CLO Ltd. Series 18-64A, Class A (3M USD LIBOR + 0.970%)
	5,950,000		1.188		04/18/31	5,929,431
Jamestown CLO X Ltd. Series 2017-10A, Class A1 (3M USD LIBOR + 1.250%)
	4,750,000		1.468		07/17/29	4,750,085
Madison Park Funding XXX Ltd. Series 2018-30A, Class A (3M USD LIBOR + 0.750%)
	5,200,000		0.987		04/15/29	5,153,320
OCP CLO Ltd. Series 2014-5A, Class A1R (3M USD LIBOR + 1.080%)
	2,600,000		1.295		04/26/31	2,595,239
Pikes Peak Clo 2 Series 18-2A, Class A (3M USD LIBOR + 1.290%)
	6,700,000		1.508		01/18/32	6,700,194
Towd Point Mortgage Trust Series 2015-2, Class 1A13
	126,459		2.500		11/25/60	126,756
Towd Point Mortgage Trust Series 2016-3, Class A1
	114,690		2.250		04/25/56	115,814
WhiteHorse X Ltd. Series 2015-10A, Class A1R (3M USD LIBOR + 0.930%)
	1,152,050		1.148		04/17/27	1,148,156


Principal Amount		Interest Rate			Maturity Date	Value

Asset-Backed Securities^(a) – (continued)
Collateralized Loan Obligations^(b) – (continued)
Zais CLO Ltd. Series 2020-15A, Class A1 (3M USD LIBOR + 2.555%)
$	475,000		2.777	%	07/28/30	$ 478,107

						41,639,703

Credit Card – 17.6%
American Express Credit Account Master Trust Series 2017-2, Class A (1M USD LIBOR + 0.450%)
	3,700,000		0.609		09/16/24	3,715,814
Citibank Credit Card Issuance Trust Series 2017-A5, Class A5 (1M USD LIBOR + 0.620%)
	8,100,000		0.764		04/22/26	8,173,180
Citibank Credit Card Issuance Trust Series 2017-A7, Class A7 (1M USD LIBOR + 0.370%)
	4,300,000		0.522		08/08/24	4,317,215
Citibank Credit Card Issuance Trust Series 2018-A2, Class A2 (1M USD LIBOR + 0.330%)
	960,000		0.482		01/20/25	963,810
Discover Card Execution Note Trust Series 2017-A1, Class A1 (1M USD LIBOR + 0.490%)
	375,000		0.649		07/15/24	376,690
Evergreen Credit Card Trust Series 2019-1, Class A^(b) (1M USD LIBOR + 0.480%)
	8,700,000		0.639		01/15/23	8,700,440
Golden Credit Card Trust Series 2017-4A, Class A^(b) (1M USD LIBOR + 0.520%)
	11,200,000		0.679		07/15/24	11,250,010

						37,497,159

Student Loan – 6.3%
Educational Services of America, Inc. Series 2012-1, Class A1^(b) (1M USD LIBOR + 1.150%)
	870,555		1.298		09/25/40	873,238
Educational Services of America, Inc. Series 2014-1, Class A^(b) (1M USD LIBOR + 0.700%)
	1,082,883		0.848		02/25/39	1,074,778
Goal Capital Funding Trust Series 2010-1, Class A^(b) (3M USD LIBOR + 0.700%)
	29,726		0.907		08/25/48	29,376
Higher Education Funding I Series 2014-1, Class A^(b) (3M USD LIBOR + 1.050%)
	1,112,534		1.257		05/25/34	1,114,682
Illinois Student Assistance Commission Series 2010-1, Class A3 (3M USD LIBOR + 0.900%)
	837,633		1.115		07/25/45	832,307
Kentucky Higher Education Student Loan Corp. Series 2015-1, Class A1 (1M USD LIBOR + 0.750%)
	2,878,107		0.905		12/01/31	2,839,252

GOLDMAN SACHS HIGH QUALITY FLOATING RATE FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Asset-Backed Securities^(a) – (continued)
Student Loan – (continued)
Knowledgeworks Foundation Student Loan Series 2010-1, Class A (3M USD LIBOR + 0.950%)
$	870,198		1.157	%	02/25/42	$ 865,430
Massachusetts Educational Financing Authority Series 2008-1, Class A1 (3M USD LIBOR + 0.950%)
	277,973		1.165		04/25/38	277,973
Montana Higher Education Student Assistance Corp. Series 2012-1, Class A2 (1M USD LIBOR + 1.000%)
	1,360,334		1.152		05/20/30	1,361,744
Northstar Education Finance, Inc. Series 2012-1, Class A^(b) (1M USD LIBOR + 0.700%)
	273,824		0.848		12/26/31	274,691
Rhode Island Student Loan Authority Series 2012-1, Class A1 (1M USD LIBOR + 0.900%)
	1,066,802		1.055		07/01/31	1,062,952
SLC Student Loan Center Series 2011-1, Class A^(b) (1M USD LIBOR + 1.220%)
	299,190		1.368		10/25/27	300,211
SLC Student Loan Trust Series 2010-1, Class A (3M USD LIBOR + 0.875%)
	443,347		1.082		11/25/42	443,770
SLM Student Loan Trust Series 2008-2, Class A3 (3M USD LIBOR + 0.750%)
	409,864		0.965		04/25/23	397,709
SLM Student Loan Trust Series 2008-5, Class A4 (3M USD LIBOR + 1.700%)
	218,243		1.915		07/25/23	219,647
South Texas Higher Education Authority, Inc. Series 2012-1, Class A2 (3M USD LIBOR + 0.850%)
	84,186		1.075		10/01/24	84,237
Utah State Board of Regents Series 2015-1, Class A (1M USD LIBOR + 0.600%)
	1,416,828		0.750		02/25/43	1,406,409

						13,458,406

TOTAL ASSET-BACKED SECURITIES (Cost $94,435,991)						$ 94,528,997



Municipal Debt Obligations^(a) – 3.3%
Alaska – 0.5%
Alaska State Student Loan Corp. Series 2013, Class A (1M USD LIBOR + 0.000%)
$	1,009,692		0.648	%	08/25/31	$ 997,437


Principal Amount		Interest Rate			Maturity Date	Value

Municipal Debt Obligations^(a) – (continued)
Rhode Island^(c) – 0.1%
Rhode Island Student Loan Authority RB (Taxable - FFELP Loan Backed) Series 2014-1 (1M USD LIBOR + 0.000%)
$	287,563		0.855	%	10/02/28	$ 285,536

Utah – 2.7%
Utah State Board of Regents RB (Taxable-Student Loan) Series 2012-1 (1M USD LIBOR + 0.000%)
	5,832,843		0.898		12/26/31	5,800,289

TOTAL MUNICIPAL DEBT OBLIGATIONS (Cost $7,145,701)						$ 7,083,262



U.S. Treasury Obligations – 14.1%
United States Treasury Bills^(d)(e)
	5,000,000		0.000	%	03/25/21	$ 4,999,187
United States Treasury Floating Rate Note^(a) (3M Treasury money market yield + 0.055%)
	12,500,000		0.150		07/31/22	12,500,154
(3M Treasury money market yield + 0.055%)
	12,500,000		0.150		10/31/22	12,498,038

TOTAL U.S. TREASURY OBLIGATIONS (Cost $29,998,774)						$ 29,997,379

TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENT (Cost $199,890,734)						$200,112,221



Short-term Investment – 4.5%
Repurchase Agreements – 4.5%
Citibank N.A
$	9,500,000		0.080	%	01/04/21	$ 9,500,000
Maturity Value: $9,500,084
Next Reset Date: 01/04/21
Collateralized by various mortgage obligations, 2.000% to 2.500%, due 12/01/50. The aggregate market value of the collateral, including accrued interest, was $9,785,927
(Cost $9,500,000)

TOTAL INVESTMENTS – 98.4% (Cost $209,390,734)						$209,612,221

OTHER ASSETS IN EXCESS OF LIABILITIES – 1.6%						3,379,139

NET ASSETS – 100.0%						$212,991,360



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 December 31, 2020.

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

GOLDMAN SACHS HIGH QUALITY FLOATING RATE FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)



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

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

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



Currency Abbreviations:
USD		— U.S. Dollar

Investment Abbreviations:
CLO		— Collateralized Loan Obligation
CMT		— Constant Maturity Treasury Indexes
COF		— Cost of Funds Index
FHLMC		— Federal Home Loan Mortgage Corp.
FNMA		— Federal National Mortgage Association
GNMA		— Government National Mortgage Association
LIBOR		— London Interbank Offered Rate
LLC		— Limited Liability Company
MTA		— Monthly Treasury Average
RB		— Revenue Bond
REMIC		— Real Estate Mortgage Investment Conduit
STRIPS		— Separate Trading of Registered Interest and Principal of Securities


For information on the mutual funds, please call our toll free Shareholder Services Line at 1-800-526-7384 or visit us on the web at www.GSAMFUNDS.com.

GOLDMAN SACHS HIGH QUALITY FLOATING RATE FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FUTURES CONTRACTS — At December 31, 2020, the Fund had the following futures contracts:


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

Long position contracts:
2 Year U.S. Treasury Notes	46	03/31/21	$	10,164,922		$	9,538
20 Year U.S. Treasury Bonds	2	03/22/21		346,375			(2,913	)

Total						$	6,625

Short position contracts:
Ultra Long U.S. Treasury Bonds	(1)	03/22/21		(213,562	)		3,249
Ultra 10 Year U.S. Treasury Notes	(4)	03/22/21		(625,438	)		1,837
5 Year U.S. Treasury Notes	(49)	03/31/21		(6,182,039	)		(13,895	)
10 Year U.S. Treasury Notes	(21)	03/22/21		(2,899,641	)		(2,265	)

Total						$	(11,074	)

TOTAL FUTURES CONTRACTS						$	(4,449	)

SWAP CONTRACTS — At December 31, 2020, 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)

0.000^(a)	3M LIBOR^(a)	07/25/24	$	19,400		$	(6,513	)	$	6,519		$	(13,032	)
0.000^(a)	3M LIBOR^(a)	11/10/24		11,520			(9,975	)		11			(9,986	)
3M LIBOR^(a)	1.245^(b)	11/24/30		2,630	^(c)		(22,287	)		(3,378	)		(18,909	)
1.543^(b)	3M LIBOR^(a)	11/25/35		2,900	^(c)		29,140			1,394			27,746

TOTAL						$	(9,635	)	$	4,546		$	(14,181	)

(a)

Payments made quarterly.

(b)

Payments made semi-annually.

(c)

Represents forward starting interest rate swaps whose effective dates of commencement of accruals and cash flows occur subsequent to December 31, 2020.

GOLDMAN SACHS INFLATION PROTECTED SECURITIES FUND

Schedule of Investments

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

U.S. Treasury Obligations – 97.7%
United States Treasury Bonds
$	560,000		3.375	%	11/15/48	$ 786,100
	310,000		2.000		02/15/50	336,544
	2,450,000		1.625		11/15/50	2,437,367
United States Treasury Inflation Indexed Bonds
	14,576,991		2.125	^(a)	02/15/40	22,554,522
	19,116,148		1.375		02/15/44	27,506,893
	18,908,325		0.750		02/15/45	24,372,970
	10,559,100		1.000		02/15/48	14,689,307
United States Treasury Inflation Indexed Notes
	55,653,946		0.125		04/15/22	56,815,947
	13,134,564		0.125		07/15/22	13,544,699
	32,601,223		0.125		01/15/23	33,876,613
	9,539,348		0.625		04/15/23	10,045,370
	15,486,300		0.500		04/15/24	16,599,531
	31,360,101		0.125		10/15/24	33,624,668
	2,198,700		0.250		01/15/25	2,372,526
	18,044,453		0.125		04/15/25	19,406,312
	3,890,232		0.625		01/15/26	4,341,759
	38,889,182		0.125		07/15/26	42,756,089
	6,359,787		0.375		01/15/27	7,096,174
	11,602,505		0.375		07/15/27	13,051,745
	13,828,622		0.500		01/15/28	15,669,116
	18,682,133		0.750		07/15/28	21,733,898
	37,536,408		0.875		01/15/29	44,112,956
	8,041,805		0.250		07/15/29	9,104,259
	22,748,768		0.125		07/15/30	25,521,058
United States Treasury Notes
	5,130,000		0.250		12/31/25	5,133,206
	5,090,000		0.625		12/31/27	5,082,047
	6,950,000		3.125		11/15/28	8,224,891

TOTAL U.S. TREASURY OBLIGATIONS (Cost $440,138,171)						$480,796,567


Shares		Dividend Rate	Value

Investment Company^(b) – 0.7%
Goldman Sachs Financial Square Government Fund - Institutional Shares
	3,279,405	0.026%	$ 3,279,405
(Cost $3,279,405)

TOTAL INVESTMENTS – 98.4% (Cost $443,417,576)			$484,075,972

OTHER ASSETS IN EXCESS OF LIABILITIES – 1.6%			7,722,918

NET ASSETS – 100.0%			$491,798,890



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

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

(b)		Represents an affiliated issuer.



Currency Abbreviations:
USD		— U.S. Dollar

Investment Abbreviations:
LIBOR		— London Interbank Offered Rate


For information on the mutual funds, please call our toll free Shareholder Services Line at 1-800-526-7384 or visit us on the web at www.GSAMFUNDS.com.

GOLDMAN SACHS INFLATION PROTECTED SECURITIES FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FUTURES CONTRACTS — At December 31, 2020, the Fund had the following futures contracts:


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

Long position contracts:
2 Year U.S. Treasury Notes	67	03/31/21	$	14,805,430		$	1,251
5 Year U.S. Treasury Notes	126	03/31/21		15,896,672			40,842
Ultra 10 Year U.S. Treasury Notes	92	03/22/21		14,385,062			(10,586	)

Total						$	31,507

Short position contracts:
Ultra Long U.S. Treasury Bonds	(4)	03/22/21		(854,250	)		(1,898	)
10 Year U.S. Treasury Notes	(8)	03/22/21		(1,104,625	)		(225	)
20 Year U.S. Treasury Bonds	(115)	03/22/21		(19,916,562	)		174,389

Total						$	172,266

TOTAL FUTURES CONTRACTS						$	203,773

SWAP CONTRACTS — At December 31, 2020, 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)

2.251^(a)	12M LIBOR^(a)	02/20/24	$	13,700		$	(303,047	)	$	74		$	(303,121	)
3MSof^(b)	3M LIBOR^(b)	07/25/24		51,300			(17,222	)		17,231			(34,453	)
3MSof^(b)	3M LIBOR^(b)	11/10/24		30,450			(26,367	)		29			(26,396	)
2.104^(a)	12M LIBOR^(a)	12/14/24		10,000			(114,326	)		76			(114,402	)
2.007^(a)	12M LIBOR^(a)	02/07/26		6,300			(25,900	)		61			(25,961	)
0.500^(d)	3M LIBOR^(b)	03/17/26		130	^(c)		(258	)		(112	)		(146	)
0.500^(d)	3M LIBOR^(b)	03/17/28		13,080	^(c)		169,654			177,947			(8,293	)
3M LIBOR^(a)	2.103^(a)	02/07/29		6,300			37,881			78			37,803
3M LIBOR^(b)	1.245^(d)	11/24/30		16,430	^(c)		(139,231	)		(18,468	)		(120,763	)
1.543^(d)	3M LIBOR^(b)	11/25/35		18,130	^(c)		182,178			5,163			177,015

TOTAL						$	(236,638	)	$	182,079		$	(418,717	)

(a)

Payments made at maturity.

(b)

Payments made quarterly.

(c)

Represents forward starting interest rate swaps whose effective dates of commencement of accruals and cash flows occur subsequent to December 31, 2020.

(d)

Payments made semi-annually.

GOLDMAN SACHS INFLATION PROTECTED SECURITIES FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

PURCHASED AND WRITTEN OPTIONS CONTRACTS — At December 31, 2020, the Fund had the following purchased and written options:

OVER-THE-COUNTERINTEREST RATE SWAPTIONS


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

Purchased option contracts
Calls
3M IRS	JPMorgan Securities, Inc.		1.100	%		03/17/2021		6,000,000		$	6,000,000		$	12,203		$	72,000		$	(59,797	)

Puts
3M IRS	JPMorgan Securities, Inc.		0.555			06/17/2021		6,620,000			6,620,000			28,536			29,567			(1,031	)

Total purchased option contracts								12,620,000		$	12,620,000		$	40,739		$	101,567		$	(60,828	)

Written option contracts
Calls
3M IRS	Deutsche Bank AG (London)		0.280			01/06/2021		(6,400,000	)		(6,400,000	)		(1	)		(7,040	)		7,039
3M IRS	Deutsche Bank AG (London)		0.310			01/20/2021		(6,370,000	)		(6,370,000	)		(961	)		(7,326	)		6,365
3M IRS	JPMorgan Securities, Inc.		0.700			03/17/2021		(6,000,000	)		(6,000,000	)		(1,987	)		(27,390	)		25,403
3M IRS	JPMorgan Securities, Inc.		0.900			03/17/2021		(6,000,000	)		(6,000,000	)		(5,099	)		(48,000	)		42,901

								(24,770,000	)	$	(24,770,000	)	$	(8,048	)	$	(89,756	)	$	81,708

Puts
3M IRS	Deutsche Bank AG (London)		0.480			01/06/2021		(6,400,000	)		(6,400,000	)		(542	)		(16,160	)		15,618
3M IRS	Deutsche Bank AG (London)		0.510			01/20/2021		(6,370,000	)		(6,370,000	)		(2,883	)		(17,836	)		14,953
3M IRS	JPMorgan Securities, Inc.		0.659			06/17/2021		(6,620,000	)		(6,620,000	)		(18,133	)		(17,967	)		(166	)
3M IRS	JPMorgan Securities, Inc.		0.763			06/17/2021		(6,620,000	)		(6,620,000	)		(11,775	)		(11,600	)		(175	)

								(26,010,000	)	$	(26,010,000	)	$	(33,333	)	$	(63,563	)	$	30,230

Total written option contracts								(50,780,000	)	$	(50,780,000	)	$	(41,381	)	$	(153,319	)	$	111,938

TOTAL								(38,160,000	)	$	(38,160,000	)	$	642		$	(51,752	)	$	51,110



Abbreviations:
3M IRS		— 3 Months Interest Rate Swaptions

GOLDMAN SACHS SHORT DURATION GOVERNMENT FUND

Schedule of Investments

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – 43.7%
Collateralized Mortgage Obligations – 2.8%
Interest Only^(a) – 0.0%
FHLMC REMIC Series 1161, Class U
$	6		1,172.807	%	11/15/21	$ 18

Regular Floater^(b) – 0.0%
FNMA REMIC Series 2007-33, Class HF(1M USD LIBOR + 0.350%)
	235,180		0.498		04/25/37	236,295

Sequential Fixed Rate – 2.8%
FDIC Structured Sale Guaranteed Notes Series 2010-S1, Class 2A^(c)
	680,695		3.250		04/25/38	673,063
FHLMC REMIC Series 1980, Class Z
	191,897		7.000		07/15/27	217,299
FHLMC REMIC Series 2019, Class Z
	144,431		6.500		12/15/27	161,870
FHLMC REMIC Series 2755, Class ZA
	459,109		5.000		02/15/34	517,451
FHLMC REMIC Series 3530, Class DB
	1,089,610		4.000		05/15/24	1,133,861
FHLMC REMIC Series 4246, Class PT
	80,885		6.500		02/15/36	95,883
FHLMC REMIC Series 4273, Class PD
	716,637		6.500		11/15/43	865,514
FHLMC REMIC Series 4619, Class NA
	2,342,912		3.000		03/15/44	2,507,153
FHLMC REMIC Series 4663, Class KA
	7,618,234		3.500		11/15/42	7,670,703
FNMA REMIC Series 2012-111, Class B
	261,396		7.000		10/25/42	321,553
FNMA REMIC Series 2012-153, Class B
	927,510		7.000		07/25/42	1,165,780
FNMA REMIC Series 2015-30, Class EA
	4,462,139		3.000		05/25/45	4,737,477
GNMA REMIC Series 2019-35, Class A
	8,572,835		4.000		12/20/48	9,402,667

						29,470,274

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS						$ 29,706,587


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Commercial Mortgage-Backed Securities – 3.1%
Sequential Fixed Rate – 3.1%
FHLMC Multifamily Structured Pass Through Certificates Series K716, Class A2
$	14,946,845		3.130	%	06/25/21	$ 15,038,736
FHLMC Multifamily Structured Pass Through Certificates Series K717, Class A2
	18,246,572		2.991		09/25/21	18,462,458

TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES						$ 33,501,194

Federal Agencies – 37.8%
Adjustable Rate FHLMC^(b) – 0.2%
(1 Year CMT + 2.250%)
$	604,607		3.154	%	06/01/35	$ 636,115
(12M USD LIBOR + 1.612%)
	1,194,359		2.266		11/01/44	1,249,004
(12M USD LIBOR + 1.763%)
	118,030		2.872		06/01/42	123,807
(12M USD LIBOR + 1.840%)
	260,875		2.633		11/01/34	274,806
(12M USD LIBOR + 2.000%)
	10,383		2.500		11/01/36	10,965
(12M USD LIBOR + 2.330%)
	46,123		4.129		05/01/36	48,703
(6M USD LIBOR + 2.055%)
	13,666		2.430		10/01/36	14,358

						2,357,758

Adjustable Rate FNMA^(b) – 0.5%
(1 Year CMT + 2.081%)
	95,698		2.227		10/01/35	100,960
(1 Year CMT + 2.220%)
	325,607		2.595		06/01/34	342,191
(1 Year CMT + 2.287%)
	287,425		3.816		02/01/34	301,675
(12M MTA + 2.341%)
	590,536		3.056		07/01/36	614,070
(12M MTA + 2.591%)
	151,069		3.308		06/01/36	157,570
(12M USD LIBOR + 1.225%)
	7,373		1.725		01/01/33	7,601
(12M USD LIBOR + 1.325%)
	163,569		3.223		04/01/35	170,003
(12M USD LIBOR + 1.396%)
	86,860		3.286		05/01/35	90,460
(12M USD LIBOR + 1.460%)
	34,624		3.460		02/01/35	36,105
(12M USD LIBOR + 1.506%)
	101,389		3.506		02/01/35	105,652
(12M USD LIBOR + 1.628%)
	142,597		3.628		03/01/35	149,192
(12M USD LIBOR + 1.660%)
	113,022		2.160		10/01/34	118,503

GOLDMAN SACHS SHORT DURATION GOVERNMENT FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Adjustable Rate FNMA^(b) – (continued)
(12M USD LIBOR + 1.664%)
$	115,611		2.164	%	10/01/34	$ 121,261
(12M USD LIBOR + 1.695%)
	136,122		2.570		05/01/34	142,913
(12M USD LIBOR + 1.713%)
	331,127		3.713		03/01/36	346,839
(12M USD LIBOR + 1.720%)
	321,932		3.554		05/01/34	337,676
(12M USD LIBOR + 1.720%)
	109,507		3.720		03/01/35	114,960
(12M USD LIBOR + 1.720%)
	55,292		3.595		04/01/35	58,196
(12M USD LIBOR + 1.730%)
	458,548		2.915		07/01/37	483,350
(12M USD LIBOR + 1.755%)
	27,725		2.380		07/01/32	28,992
(12M USD LIBOR + 1.800%)
	352,180		3.078		05/01/33	370,408
(12M USD LIBOR + 1.820%)
	3,816		2.320		12/01/46	4,052
(12M USD LIBOR + 1.897%)
	346,554		2.772		06/01/36	364,679
(12M USD LIBOR + 1.935%)
	26,201		2.310		11/01/36	27,715
(12M USD LIBOR + 1.935%)
	85,209		2.395		11/01/36	90,208
(12M USD LIBOR + 1.969%)
	609,773		3.719		04/01/36	645,662
(6M USD LIBOR + 2.250%)
	43,688		3.125		08/01/33	45,623
(COF + 1.250%)
	389,966		4.598		08/01/33	419,925
(COF + 1.841%)
	18,495		2.364		08/01/29	18,709

						5,815,150

Adjustable Rate GNMA^(b) – 0.2%
(1 Year CMT + 1.500%)
	103,037		2.875		05/20/34	106,356
	219,001		2.250		07/20/34	225,304
	198,243		2.250		08/20/34	203,973
	1,326,250		2.250		09/20/34	1,364,159
	183,687		3.125		10/20/34	189,047
	237,493		3.125		12/20/34	244,237

						2,333,076

FHLMC – 0.5%
	12,818		7.000		04/01/22	13,003
	371		4.500		05/01/23	383
	4,675		7.500		01/01/31	5,526
	27,287		4.500		07/01/33	30,836
	683,750		4.500		08/01/33	772,701
	1,404,152		4.500		09/01/33	1,586,712
	134,692		4.500		10/01/33	152,215
	3,267		4.500		04/01/34	3,693
	3,178		4.500		04/01/35	3,560
	1,311		4.500		07/01/35	1,469
	6,609		4.500		08/01/35	7,401
	28,344		4.500		09/01/35	31,835
	7,343		4.500		10/01/35	8,223


Principal Amount		Interest Rate		Maturity Date	Value

Mortgage-Backed Obligations – (continued)
FHLMC – (continued)
$	1,172		4.500	12/01/35	$ 1,325
	934		4.500	05/01/36	1,046
	85,585		4.500	01/01/38	95,865
	1,418		4.500	04/01/38	1,587
	472		4.500	05/01/38	529
	5,243		4.500	06/01/38	5,873
	136,946		4.500	09/01/38	154,808
	2,447		4.500	01/01/39	2,740
	76,968		4.500	02/01/39	86,166
	36,278		4.500	03/01/39	40,604
	7,463		4.500	04/01/39	8,353
	203,295		4.500	05/01/39	227,542
	612,976		4.500	06/01/39	686,084
	15,240		4.500	07/01/39	17,058
	30,660		4.500	08/01/39	34,318
	42,630		4.500	09/01/39	47,715
	7,796		4.500	10/01/39	8,726
	14,059		4.500	11/01/39	15,735
	29,151		4.500	12/01/39	32,628
	24,451		4.500	01/01/40	27,367
	6,526		4.500	02/01/40	7,300
	19,028		4.500	04/01/40	21,279
	28,266		4.500	05/01/40	31,602
	35,347		4.500	06/01/40	39,520
	29,845		4.500	07/01/40	33,368
	27,946		4.500	08/01/40	31,247
	16,399		4.500	09/01/40	18,334
	6,997		4.500	10/01/40	7,823
	9,656		4.500	02/01/41	10,795
	22,694		4.500	03/01/41	25,369
	57,179		4.500	04/01/41	63,917
	54,072		4.500	05/01/41	60,445
	111,742		4.500	06/01/41	124,912
	7,887		4.500	07/01/41	8,817
	254,673		4.500	08/01/41	284,689
	292,625		4.500	09/01/41	327,169
	16,868		4.500	12/01/41	18,857
	227,344		4.500	03/01/42	254,140

					5,483,209

FNMA – 1.4%
	14,226,682		4.180	07/01/21	14,296,205
	93,680		7.500	10/01/37	111,406

					14,407,611

GNMA – 26.1%
	1,188		6.500	01/15/32	1,296
	5,921		6.500	02/15/32	6,635
	4,483		6.500	08/15/34	5,214
	9,543		6.500	05/15/35	11,313
	2,683		6.500	06/15/35	3,150
	7,403		6.500	07/15/35	8,783
	2,862		6.500	08/15/35	3,408
	5,934		6.500	09/15/35	7,025
	2,284		6.500	10/15/35	2,716
	9,360		6.500	11/15/35	11,147
	6,196		6.500	12/15/35	7,360
	22,577		6.500	01/15/36	26,749
	25,102		6.500	02/15/36	29,677
	14,562		6.500	03/15/36	17,192
	42,021		6.500	04/15/36	49,366
	66,104		6.500	05/15/36	78,196
	56,464		6.500	06/15/36	67,078

GOLDMAN SACHS SHORT DURATION GOVERNMENT FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
GNMA – (continued)
$	183,340		6.500	%	07/15/36	$ 216,155
	206,323		6.500		08/15/36	241,900
	376,653		6.500		09/15/36	446,709
	138,915		6.500		10/15/36	163,806
	189,412		6.500		11/15/36	224,666
	81,085		6.500		12/15/36	95,352
	46,845		6.500		01/15/37	55,256
	17,061		6.500		02/15/37	20,316
	10,040		6.500		03/15/37	11,970
	21,359		6.500		04/15/37	25,201
	8,460		6.500		05/15/37	9,833
	12,039		6.500		08/15/37	14,226
	45,071		6.500		09/15/37	52,983
	59,450		6.500		10/15/37	70,807
	17,463		6.500		11/15/37	20,394
	13,916		6.500		05/15/38	16,508
	44,828		6.000		11/15/38	53,170
	2,802		6.500		01/15/39	3,262
	10,843		6.500		02/15/39	12,784
	6,181,944		4.500		08/20/47	6,747,965
	159,690		4.500		02/20/48	173,713
	403,492		4.500		05/20/48	436,653
	2,064,534		4.500		09/20/48	2,230,983
	15,144,070		5.000		09/20/48	16,601,951
	5,846,787		4.500		12/20/48	6,318,172
	14,013,838		5.000		12/20/48	15,336,637
	1,244,587		4.500		01/20/49	1,343,276
	1,918,490		5.000		06/20/49	2,094,335
	2,639,289		3.000		09/20/49	2,764,250
	252,013		5.000		11/20/49	274,353
	3,591,679		5.000		12/20/49	3,910,067
	73,000,000		2.000		TBA-30yr^(d)	76,336,951
	107,000,000		2.500		TBA-30yr^(d)	113,206,048
	19,000,000		4.000		TBA-30yr^(d)	20,254,296
	9,000,000		5.000		TBA-30yr^(d)	9,817,031

						279,938,284

UMBS – 6.2%
	140,634		5.500		09/01/23	145,634
	365,603		5.000		10/01/23	403,171
	39,187		5.500		10/01/23	40,580
	371,867		5.000		08/01/24	410,936
	267,340		4.500		11/01/36	298,825
	85,206		4.500		02/01/39	95,427
	102,260		4.500		04/01/39	114,438
	7,245		4.500		08/01/39	8,143
	5,633		4.500		05/01/41	6,297
	290,837		4.500		08/01/41	325,067
	108,149		4.500		10/01/41	120,886
	11,817,934		4.500		05/01/48	12,809,987
	511,782		5.000		05/01/48	566,934
	5,391,861		4.500		07/01/48	5,925,357
	5,735,248		4.500		08/01/48	6,302,721
	5,603,759		4.500		10/01/48	6,263,292
	226,745		5.000		10/01/48	251,034
	1,935,471		5.000		02/01/49	2,140,983
	14,751		5.000		04/01/49	16,375
	344,911		5.000		06/01/49	382,839
	664,015		5.000		07/01/49	737,492


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
UMBS – (continued)
$	492,983		5.000	%	08/01/49	$ 543,942
	20,608,510		5.000		10/01/49	22,829,358
	1,338,717		5.000		12/01/49	1,483,983
	3,068,810		5.000		01/01/50	3,391,418
	214,571		5.000		06/01/50	238,195
	383,064		5.000		09/01/50	424,193

						66,277,507

UMBS, 30 Year, Single Family^(d) – 2.7%
	4,000,000		3.000		TBA-30yr	4,190,778
	7,000,000		4.000		TBA-30yr	7,475,234
	16,000,000		4.500		TBA-30yr	17,340,000

						29,006,012

TOTAL FEDERAL AGENCIES						$ 405,618,607

TOTAL MORTGAGE-BACKED OBLIGATIONS (Cost $466,490,435)						$ 468,826,388



Agency Debentures – 18.5%
FHLB
$	1,800,000		5.375	%	08/15/24	$ 2,126,610
	44,850,000		0.500		04/14/25	45,136,143
FHLMC
	50,330,000		0.375		04/20/23	50,578,127
	17,820,000		0.375		09/23/25	17,789,171
FNMA
	5,200,000		6.250		05/15/29	7,408,024
	16,080,000		7.125		01/15/30	24,559,306
Tennessee Valley Authority
	49,850,000		0.750		05/15/25	50,561,858

TOTAL AGENCY DEBENTURES (Cost $192,126,287)						$ 198,159,239



U.S. Treasury Obligations – 38.5%
United States Treasury Bonds
$	7,370,000		3.750	%	11/15/43	$ 10,600,133
	410,000		3.375		05/15/44	560,291
	10,000		3.000	^(e)	11/15/45	13,005
	200,000		2.875		11/15/46	255,406
	110,000		3.000	^(e)	02/15/48	144,306
	1,400,000		3.375	^(e)	11/15/48	1,965,250
	780,000		2.000		02/15/50	846,787
	5,420,000		1.625		11/15/50	5,392,053

GOLDMAN SACHS SHORT DURATION GOVERNMENT FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

U.S. Treasury Obligations – (continued)
United States Treasury Inflation Indexed Notes^(e)
$	18,886,597		0.125	%	07/15/22	$ 19,476,342
United States Treasury Notes
	62,560,000		2.500		01/15/22	64,097,119
	71,350,000		2.500	^(e)	02/15/22	73,242,447
	43,730,000		1.875		02/28/22	44,618,266
	51,710,000		2.375		03/15/22	53,101,726
	28,110,000		0.125		06/30/22	28,113,294
	46,570,000		1.750		09/30/22	47,881,600
	350,000		2.750		04/30/23	371,137
	380,000		2.875		11/30/23	409,895
	7,100,000		2.625		12/31/23	7,619,742
	620,000		3.000		09/30/25	697,694
	11,270,000		0.250		12/31/25	11,277,044
	4,500,000		2.625		12/31/25	5,004,492
	630,000		1.375		08/31/26	662,534
	11,090,000		0.625		12/31/27	11,072,672
United States Treasury Strip Coupon^(f)
	28,900,000		0.000		11/15/35	23,543,779
	2,800,000		0.000		05/15/36	2,257,791

TOTAL U.S. TREASURY OBLIGATIONS (Cost $400,226,899)						$ 413,224,805


Shares		Dividend Rate				Value

Investment Company^(g) – 20.5%
Goldman Sachs Financial Square Government Fund - Institutional Shares
	219,944,125		0.026%			$ 219,944,125
(Cost $219,944,125)

TOTAL INVESTMENTS – 121.2% (Cost $1,278,787,746)						$1,300,154,557

LIABILITIES IN EXCESS OF OTHER ASSETS – (21.2)%						(227,253,389)

NET ASSETS – 100.0%						$1,072,901,168



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

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

(b)		Variable rate security. Except for floating rate notes (for which final maturity is disclosed), maturity date disclosed is the next interest reset date. Interest rate disclosed is that which is in effect on December 31, 2020.

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

(d)		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 $248,620,338 which represents approximately 23.2% of the Fund’s net assets as of December 31, 2020.

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

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

(g)		Represents an affiliated issuer.



Currency Abbreviations:
USD		— U.S. Dollar

Investment Abbreviations:
CMT		— Constant Maturity Treasury Indexes
COF		— Cost of Funds Index
FDIC		— Federal Deposit Insurance Corp.
FHLB		— Federal Home Loan Bank
FHLMC		— Federal Home Loan Mortgage Corp.
FNMA		— Federal National Mortgage Association
GNMA		— Government National Mortgage Association
LIBOR		— London Interbank Offered Rate
MTA		— Monthly Treasury Average
REMIC		— Real Estate Mortgage Investment Conduit


For information on the mutual funds, please call our toll free Shareholder Services Line at 1-800-526-7384 or visit us on the web at www.GSAMFUNDS.com.

GOLDMAN SACHS SHORT DURATION GOVERNMENT FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FORWARD SALES CONTRACTS — At December 31, 2020, the Fund had the following forward sales contracts:


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

UMBS, 30 Year, Single Family		5.000	%		TBA-30yr		01/14/21	$	(8,000,000	)	$	(8,852,500	)

TOTAL (Proceeds Receivable: $8,849,375)											$	(8,852,500	)

(a)

FUTURES CONTRACTS — At December 31, 2020, the Fund had the following futures contracts:


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

Long position contracts:
2 Year U.S. Treasury Notes		2,780		03/31/21	$	614,314,843		$	551,401

Short position contracts:
Ultra Long U.S. Treasury Bonds		(116)		03/22/21		(24,773,250	)		199,064
Ultra 10 Year U.S. Treasury Notes		(92)		03/22/21		(14,385,063	)		38,125
5 Year U.S. Treasury Notes		(1,507)		03/31/21		(190,129,243	)		(380,850	)
10 Year U.S. Treasury Notes		(234)		03/22/21		(32,310,281	)		(50,581	)
20 Year U.S. Treasury Bonds		(358)		03/22/21		(62,001,125	)		540,418

Total								$	346,176

TOTAL FUTURES CONTRACTS								$	897,577

SWAP CONTRACTS — At December 31, 2020, the Fund had the following swap contracts:

CENTRALLY CLEARED INTEREST RATE SWAP CONTRACTS


Payments Made by the Fund	Payments Received by Fund	Termination Date	Notional Amount (000s)			Market Value			Upfront Premium (Received) Paid			Unrealized Appreciation/ (Depreciation)

1M LIBOR + 0.090%^(a)	3M LIBOR^(a)	07/25/24	$	15,560		$	(5,224	)	$	5,085		$	(10,309	)
0.000^(a)	3M LIBOR^(a)	11/10/24		9,240			(8,001	)		9			(8,010	)
3M LIBOR^(a)	1.245^(b)	11/24/30		5,980	^(c)		(50,675	)		(4,638	)		(46,037	)
1.543^(b)	3M LIBOR^(a)	11/25/35		5,560	^(c)		55,869			(411	)		56,280

TOTAL						$	(8,031	)	$	45		$	(8,076	)

(a)

Payments made quarterly.

(b)

Payments made semi-annually.

(c)

Represents forward starting interest rate swaps whose effective dates of commencement of accruals and cash flows occur subsequent to December 31, 2020.

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – 69.2%
Advertising^(a)(b) – 0.1%
Outfront Media Capital LLC/Outfront Media Capital Corp.
$	1,985,000		6.250	%	06/15/25	$ 2,099,138

Aerospace & Defense^(a) – 1.3%
Howmet Aerospace, Inc.
	1,265,000		6.875		05/01/25	1,486,375
The Boeing Co.
	16,025,000		4.875		05/01/25	18,251,834
	5,400,000		2.600		10/30/25	5,645,700
TransDigm, Inc.
	2,445,000		6.500		07/15/24	2,484,731
	1,055,000		6.500		05/15/25	1,085,331

						28,953,971

Agriculture – 0.6%
Altria Group, Inc.^(a)
	2,350,000		3.800		02/14/24	2,566,106
Archer-Daniels-Midland Co.^(a)
	1,250,000		2.750		03/27/25	1,359,425
BAT International Finance PLC^(a)
	8,000,000		1.668		03/25/26	8,199,600
Cargill, Inc.^(b)
	1,175,000		1.375		07/23/23	1,203,964

						13,329,095

Airlines^(a) – 0.1%
Delta Air Lines, Inc.
	1,960,000		3.800		04/19/23	2,001,650

Automotive – 2.2%
American Axle & Manufacturing, Inc.^(a)
	3,490,000		6.250		04/01/25	3,620,875
Clarios Global LP^(a)(b)
	2,820,000		6.750		05/15/25	3,024,450
Clarios Global LP/Clarios US Finance Co.^(a)(b)
	120,000		8.500		05/15/27	130,200
Cooper-Standard Automotive, Inc.^(a)(b)
	145,000		5.625		11/15/26	133,038
Ford Motor Co.^(a)
	56,000		9.000		04/22/25	68,796
Ford Motor Credit Co. LLC
	1,500,000		3.813		10/12/21	1,518,728


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Automotive – (continued)
$	1,580,000		2.979	%^(a)	08/03/22	$ 1,606,350
	600,000		4.140	^(a)	02/15/23	617,337
	650,000		3.096		05/04/23	657,305
	285,000		4.375		08/06/23	295,744
	250,000		4.687	^(a)	06/09/25	266,261
General Motors Co.
	6,064,000		5.400		10/02/23	6,810,903
General Motors Financial Co., Inc.
	5,475,000		3.200	^(a)	07/06/21	5,531,885
	1,450,000		4.200		11/06/21	1,493,138
	6,500,000		3.550		07/08/22	6,790,420
	846,000		3.700	^(a)	05/09/23	897,657
	2,450,000		1.700		08/18/23	2,513,087
	1,100,000		3.950	^(a)	04/13/24	1,199,308
Navistar International Corp.^(a)(b)
	850,000		9.500		05/01/25	952,000
The Goodyear Tire & Rubber Co.^(a)
	1,005,000		9.500		05/31/25	1,131,881
	2,140,000		5.125		11/15/23	2,142,675
Volkswagen Group of America Finance LLC^(b)
	2,325,000		2.900		05/13/22	2,398,772
	3,775,000		0.750		11/23/22	3,787,382
ZF North America Capital, Inc.^(b)
	900,000		4.750		04/29/25	969,750

						48,557,942

Banks – 21.2%
Banco do Brasil SA
	3,350,000		4.750		03/20/24	3,605,437
Banco Santander SA
	1,800,000		3.848		04/12/23	1,930,734
	2,600,000		2.706		06/27/24	2,773,446
	1,600,000		2.746		05/28/25	1,710,240
Bank of America Corp.
	4,345,000		4.200		08/26/24	4,864,314
	9,025,000		4.000		01/22/25	10,141,753

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Banks – (continued)
$	18,800,000		3.950	%	04/21/25	$ 21,177,260
(3M USD LIBOR + 0.790%)
	11,000,000		3.004	^(a)(c)	12/20/23	11,580,470
(3M USD LIBOR + 0.940%)
	1,175,000		3.864	^(a)(c)	07/23/24	1,274,828
(SOFR + 0.910%)
	15,175,000		0.981	^(a)(c)	09/25/25	15,346,933
Banque Federative du Credit Mutuel SA^(b)
	2,800,000		3.750		07/20/23	3,026,212
	5,475,000		0.650		02/27/24	5,485,950
Barclays PLC^(a)(c)
(3M USD LIBOR + 1.380%)
	2,550,000		1.601		05/16/24	2,585,853
(3M USD LIBOR + 1.400%)
	2,625,000		4.610		02/15/23	2,740,027
(3M USD LIBOR + 1.610%)
	1,850,000		3.932		05/07/25	2,025,713
(3M USD LIBOR + 2.452%)
	3,600,000		2.852		05/07/26	3,866,508
BNP Paribas SA^(b)
	1,650,000		3.500		03/01/23	1,754,000
	3,775,000		3.800		01/10/24	4,114,184
	10,000,000		4.375		09/28/25	11,410,900
(SOFR + 2.074%)
	3,275,000		2.219	^(a)(c)	06/09/26	3,427,484
BPCE SA^(b)
	2,425,000		3.000		05/22/22	2,509,560
	2,921,000		4.000		09/12/23	3,178,954
	850,000		2.375		01/14/25	896,742
(SOFR + 1.520%)
	3,675,000		1.652	^(a)(c)	10/06/26	3,757,761
Canadian Imperial Bank of Commerce
	2,625,000		0.950		06/23/23	2,659,912
CIT Bank NA^(a)(c) (SOFR + 1.715%)
	1,050,000		2.969		09/27/25	1,094,384
CIT Group, Inc.^(a)
	125,000		4.750		02/16/24	136,563
(SOFR + 3.827%)
	2,850,000		3.929	^(c)	06/19/24	3,013,875
Citibank NA^(a)
	1,425,000		3.650		01/23/24	1,557,782
Citigroup, Inc.
	975,000		2.700	^(a)	10/27/22	1,014,107
	5,065,000		3.500		05/15/23	5,427,806
	1,525,000		3.875		03/26/25	1,706,933


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Banks – (continued)
$	1,375,000		4.400	%	06/10/25	$ 1,576,410
	1,800,000		4.600		03/09/26	2,110,410
(3M USD LIBOR + 0.950%)
	3,750,000		2.876	^(a)(c)	07/24/23	3,892,312
(3M USD LIBOR + 1.023%)
	1,045,000		4.044	^(a)(c)	06/01/24	1,134,818
(SOFR + 0.686%)
	3,700,000		0.776	^(a)(c)	10/30/24	3,725,493
(SOFR + 2.750%)
	11,250,000		3.106	^(a)(c)	04/08/26	12,309,187
(SOFR + 3.234%)
	1,275,000		4.700	^(a)(c)	12/31/99	1,310,063
Citizens Bank NA^(a)
	2,075,000		2.250		04/28/25	2,201,928
Comerica Bank
	1,450,000		2.500		07/23/24	1,543,699
Cooperatieve Rabobank UA
	11,550,000		3.950		11/09/22	12,268,987
	3,150,000		4.625		12/01/23	3,509,415
	2,700,000		2.625	^(b)	07/22/24	2,885,274
Credit Agricole SA, Class B
	5,700,000		4.375		03/17/25	6,412,899
Credit Suisse AG
	9,400,000		6.500	^(b)	08/08/23	10,590,040
	675,000		2.950		04/09/25	740,117
Credit Suisse Group AG^(a)(b)(c)
(3M USD LIBOR + 1.240%)
	2,100,000		4.207		06/12/24	2,274,552
(SOFR + 2.044%)
	9,600,000		2.193		06/05/26	10,027,776
Credit Suisse Group Funding Guernsey Ltd.
	1,450,000		3.800		09/15/22	1,530,388
Danske Bank A/S^(a)(b)
	2,625,000		1.226		06/22/24	2,662,800
Deutsche Bank AG^(a)(c) (SOFR + 2.159%)
	1,525,000		2.222		09/18/24	1,567,929
Discover Bank
	2,750,000		4.200		08/08/23	3,009,187
Fifth Third Bancorp^(a)
	1,550,000		1.625		05/05/23	1,593,679
	690,000		2.375		01/28/25	733,960
First Horizon Corp.^(a)
	2,735,000		3.550		05/26/23	2,901,042
	1,500,000		4.000		05/26/25	1,673,910

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Banks – (continued)
HSBC Holdings PLC^(a)(c)
(3M USD LIBOR + 1.000%)
$	1,300,000		1.220	%	05/18/24	$ 1,308,840
(SOFR + 1.538%)
	8,675,000		1.645		04/18/26	8,877,214
ING Groep NV
	1,525,000		4.100		10/02/23	1,675,624
	5,000,000		4.625	^(b)	01/06/26	5,866,800
(1 Year CMT + 1.100%)
	4,750,000		1.400	^(a)(b)(c)	07/01/26	4,824,622
JPMorgan Chase & Co.
	6,000,000		3.200		01/25/23	6,359,340
(3M USD LIBOR + 0.730%)
	7,490,000		3.559	^(a)(c)	04/23/24	8,020,741
(3M USD LIBOR + 0.890%)
	350,000		3.797	^(a)(c)	07/23/24	379,078
(3M USD LIBOR + 1.000%)
	2,950,000		4.023	^(a)(c)	12/05/24	3,251,283
(3M USD LIBOR + 3.800%)
	1,230,000		4.014	^(a)(c)	12/29/49	1,229,397
(SOFR + 0.800%)
	$9,200,000		1.045	^(a)(c)	11/19/26	9,304,236
(SOFR + 1.455%)
	4,975,000		1.514	^(a)(c)	06/01/24	5,106,887
(SOFR + 1.850%)
	6,360,000		2.083	^(a)(c)	04/22/26	6,719,722
(SOFR + 3.125%)
	3,500,000		4.600	^(a)(c)	12/31/99	3,610,180
Lloyds Banking Group PLC
	$4,400,000		4.050		08/16/23	4,800,620
	1,525,000		4.500		11/04/24	1,706,079
(1 Year CMT + 1.100%)
	3,275,000		1.326	^(a)(c)	06/15/23	3,311,352
(3M USD LIBOR + 1.249%)
	1,375,000		2.858	^(a)(c)	03/17/23	1,413,445
Mitsubishi UFJ Financial Group, Inc.
	1,400,000		2.623		07/18/22	1,448,664
	6,950,000		3.407		03/07/24	7,557,152
	3,025,000		1.412		07/17/25	3,105,707
Mizuho Financial Group, Inc.^(a)(c) (3M USD LIBOR + 0.990%)
	4,000,000		1.241		07/10/24	4,067,080
Morgan Stanley, Inc.
	4,600,000		4.875		11/01/22	4,958,478
	6,250,000		4.100		05/22/23	6,774,375
	2,150,000		3.875		04/29/24	2,379,319
	5,000,000		5.000		11/24/25	5,969,450
(3M USD LIBOR + 0.847%)
	5,175,000		3.737	^(a)(c)	04/24/24	5,567,161


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Banks – (continued)
(SOFR + 0.466%)
$	4,950,000		0.560	%^(a)(c)	11/10/23	$ 4,962,325
(SOFR + 0.700%)
	4,125,000		0.785	^(a)(c)	01/20/23	4,137,994
(SOFR + 0.720%)
	4,025,000		0.985	^(a)(c)	12/10/26	4,056,596
(SOFR + 0.745%)
	2,125,000		0.864	^(a)(c)	10/21/25	2,140,768
(SOFR + 1.990%)
	16,525,000		2.188	^(a)(c)	04/28/26	17,470,726
Natwest Group PLC
	3,454,000		6.000		12/19/23	3,940,202
(1 Year CMT + 2.150%)
	1,325,000		2.359	^(a)(c)	05/22/24	1,378,954
(3M USD LIBOR + 1.550%)
	2,525,000		4.519	^(a)(c)	06/25/24	2,756,744
(3M USD LIBOR + 1.762%)
	1,175,000		4.269	^(a)(c)	03/22/25	1,298,199
NatWest Markets PLC^(b)
	7,750,000		3.625		09/29/22	8,172,530
	2,375,000		2.375		05/21/23	2,471,472
Regions Financial Corp.^(a)
	2,184,000		3.800		08/14/23	2,372,523
Santander UK PLC
	3,675,000		2.100		01/13/23	3,794,915
Standard Chartered PLC^(a)(b)(c)
(1 Year CMT + 1.170%)
	3,175,000		1.319		10/14/23	3,212,306
(3M USD LIBOR + 1.080%)
	4,050,000		3.885		03/15/24	4,308,390
(3M USD LIBOR + 1.150%)
	1,275,000		4.247		01/20/23	1,321,474
Sumitomo Mitsui Financial Group, Inc.
	1,925,000		1.474		07/08/25	1,973,260
Sumitomo Mitsui Trust Bank Ltd.^(b)
	6,925,000		0.800		09/12/23	6,980,608
Turkiye Vakiflar Bankasi TAO
	200,000		8.125		03/28/24	213,563
	380,000		5.250	^(b)	02/05/25	374,063
	530,000		6.500	^(b)	01/08/26	542,588
UBS Group AG^(b)
	1,275,000		2.650		02/01/22	1,307,270
(1 Year CMT + 1.080%)
	4,225,000		1.364	^(a)(c)	01/30/27	4,273,503
UniCredit SpA^(b)
	1,000,000		6.572		01/14/22	1,054,630
Wells Fargo & Co.
	4,375,000		2.625		07/22/22	4,529,394

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Banks – (continued)
$	6,063,000		4.480	%	01/16/24	$ 6,740,904
	4,526,000		3.750	^(a)	01/24/24	4,940,627
(SOFR + 1.600%)
	9,125,000		1.654	^(a)(c)	06/02/24	9,379,314
(SOFR + 2.000%)
	7,200,000		2.188	^(a)(c)	04/30/26	7,576,560
Wells Fargo Bank NA^(a)(c) (3M USD LIBOR + 0.650%)
	2,000,000		2.082		09/09/22	2,022,900

						475,281,048

Beverages – 1.7%
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc.^(a)
	9,900,000		3.650		02/01/26	11,193,732
Anheuser-Busch InBev Worldwide, Inc.^(a)
	5,900,000		4.150		01/23/25	6,717,091
Constellation Brands, Inc.
	3,025,000		2.650	^(a)	11/07/22	3,146,937
	800,000		3.200	^(a)	02/15/23	845,584
	8,181,000		4.250		05/01/23	8,916,881
Diageo Capital PLC^(a)
	1,975,000		3.500		09/18/23	2,131,282
Keurig Dr Pepper, Inc.^(a)
	3,900,000		4.057		05/25/23	4,236,141

						37,187,648

Biotechnology – 0.3%
Gilead Sciences, Inc.^(a)
	950,000		0.750		09/29/23	952,470
(3M USD LIBOR + 0.520%)
	2,925,000		0.771	^(c)	09/29/23	2,930,762
Royalty Pharma PLC^(b)
	3,700,000		0.750		09/02/23	3,718,611

						7,601,843

Building Materials^(a) – 0.9%
Carrier Global Corp.
	2,650,000		1.923		02/15/23	2,730,215
	15,325,000		2.242		02/15/25	16,212,164
Fortune Brands Home & Security, Inc.
	1,650,000		4.000		09/21/23	1,800,282
JELD-WEN, Inc.^(b)
	125,000		4.875		12/15/27	133,125


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Building Materials^(a) – (continued)
Summit Materials LLC/Summit Materials Finance Corp.^(b)
$	115,000		6.500	%	03/15/27	$ 122,188

						20,997,974

Chemicals – 1.4%
Celanese US Holdings LLC^(a)
	900,000		3.500		05/08/24	973,872
DuPont de Nemours, Inc.
	2,150,000		2.169		05/01/23	2,178,251
	6,800,000		4.205	^(a)	11/15/23	7,506,384
Kraton Polymers LLC/Kraton Polymers Capital Corp.^(a)(b)
	120,000		7.000		04/15/25	126,300
Nutrition & Biosciences, Inc.^(b)
	1,075,000		0.697		09/15/22	1,078,279
	5,225,000		1.230	^(a)	10/01/25	5,286,341
OCI NV^(a)(b)
	1,290,000		4.625		10/15/25	1,341,600
Sasol Financing International Ltd.
	400,000		4.500		11/14/22	408,000
Sasol Financing USA LLC^(a)
	450,000		5.875		03/27/24	478,688
Syngenta Finance NV^(b)
	3,055,000		3.933		04/23/21	3,077,699
The Chemours Co.^(a)
	4,150,000		7.000		05/15/25	4,300,437
The Dow Chemical Co.^(a)
	1,125,000		3.150		05/15/24	1,209,566
The Sherwin-Williams Co.^(a)
	35,000		2.750		06/01/22	36,057
Tronox Finance PLC^(a)(b)
	925,000		5.750		10/01/25	959,688
Tronox, Inc.^(a)(b)
	1,985,000		6.500		05/01/25	2,121,469

						31,082,631

Commercial Services – 1.1%
Global Payments, Inc.^(a)
	3,800,000		3.750		06/01/23	4,059,198
IHS Markit Ltd.^(a)
	4,343,000		5.000	^(b)	11/01/22	4,623,514
	2,475,000		3.625		05/01/24	2,699,681

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Commercial Services – (continued)
PayPal Holdings, Inc.
$	2,125,000		1.350	%	06/01/23	$ 2,176,956
	1,625,000		2.400	^(a)	10/01/24	1,736,654
	1,875,000		1.650	^(a)	06/01/25	1,961,025
Prime Security Services Borrower LLC/Prime Finance, Inc.^(b)
	5,000,000		5.250		04/15/24	5,325,000
The ADT Security Corp.
	2,050,000		4.125		06/15/23	2,162,750

						24,744,778

Computers^(a) – 2.0%
Dell International LLC/EMC Corp.^(b)
	10,827,000		5.450		06/15/23	11,975,420
	4,775,000		4.000		07/15/24	5,265,106
	10,665,000		5.850		07/15/25	12,766,112
Hewlett Packard Enterprise Co.
	800,000		4.400		10/15/22	849,768
	475,000		2.250		04/01/23	493,249
	4,998,000		4.450		10/02/23	5,503,548
	3,100,000		1.450		04/01/24	3,180,879
	700,000		4.650		10/01/24	795,606
(3M USD LIBOR + 0.720%)
	3,525,000		0.958	^(c)	10/05/21	3,525,564
NetApp, Inc.
	1,300,000		1.875		06/22/25	1,359,722

						45,714,974

Distribution & Wholesale^(a)(b) – 0.1%
Performance Food Group, Inc.
	3,020,000		6.875		05/01/25	3,231,400

Diversified Financial Services – 4.9%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust
	250,000		4.500		05/15/21	252,988
	1,500,000		4.125	^(a)	07/03/23	1,604,040
	640,000		6.500	^(a)	07/15/25	765,069
AIG Global Funding^(b)
	1,125,000		0.800		07/07/23	1,135,260
Air Lease Corp.
	1,975,000		3.500		01/15/22	2,030,300


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Diversified Financial Services – (continued)
$	5,000,000		2.625	%^(a)	07/01/22	$ 5,123,850
	2,375,000		2.250		01/15/23	2,438,745
	3,586,000		2.750	^(a)	01/15/23	3,703,872
	1,500,000		2.300	^(a)	02/01/25	1,552,500
	1,100,000		3.375	^(a)	07/01/25	1,188,286
Ally Financial, Inc.
	1,975,000		4.125		02/13/22	2,051,531
	1,300,000		4.625		05/19/22	1,371,864
	12,175,000		1.450	^(a)	10/02/23	12,426,292
American Express Co.^(a)
	1,525,000		3.700		08/03/23	1,651,727
	320,000		2.500		07/30/24	341,968
(3M USD LIBOR + 0.750%)
	1,200,000		0.966	^(c)	08/03/23	1,214,568
(3M USD LIBOR + 3.285%)
	646,000		3.502	^(c)	12/29/49	635,503
Avolon Holdings Funding Ltd.^(a)(b)
	1,025,000		3.625		05/01/22	1,048,247
	3,925,000		5.500		01/15/23	4,174,120
	1,075,000		3.950		07/01/24	1,135,415
	2,075,000		2.875		02/15/25	2,112,163
Capital One Bank USA NA^(a)(c) (SOFR + 0.616%)
	3,775,000		2.014		01/27/23	3,834,456
Capital One Financial Corp.
	1,700,000		2.600	^(a)	05/11/23	1,781,634
	600,000		3.500		06/15/23	643,320
	850,000		3.900	^(a)	01/29/24	930,793
	620,000		3.300	^(a)	10/30/24	681,324
(3M USD LIBOR + 0.720%)
	1,475,000		0.934	^(a)(c)	01/30/23	1,481,446
GE Capital Funding LLC^(a)(b)
	3,600,000		3.450		05/15/25	3,974,004
GE Capital International Funding Co.
	10,000,000		3.373		11/15/25	11,116,800
Global Aircraft Leasing Co. Ltd.^(a)(b)(d) (PIK 7.250%, Cash 6.500%)
	1,606,187		6.500		09/15/24	1,421,475
Huarong Finance II Co. Ltd.
	380,000		3.750		05/29/24	399,950

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Diversified Financial Services – (continued)
$	270,000		5.500	%	01/16/25	$ 304,550
Intercontinental Exchange, Inc.
	1,575,000		0.700		06/15/23	1,587,238
(3M USD LIBOR + 0.650%)
	6,975,000		0.867	^(a)(c)	06/15/23	6,995,995
International Lease Finance Corp.
	2,125,000		8.625		01/15/22	2,291,749
Jefferies Group LLC
	3,325,000		5.125		01/20/23	3,634,557
LPL Holdings, Inc.^(a)(b)
	2,125,000		5.750		09/15/25	2,194,062
Nasdaq, Inc.^(a)
	4,625,000		0.445		12/21/22	4,629,070
Navient Corp.
	1,620,000		6.625		07/26/21	1,654,425
	915,000		5.500		01/25/23	960,750
OneMain Finance Corp.
	1,935,000		5.625		03/15/23	2,080,125
Park Aerospace Holdings Ltd.^(a)(b)
	900,000		5.250		08/15/22	943,191
PennyMac Financial Services, Inc.^(a)(b)
	2,160,000		5.375		10/15/25	2,278,800
Synchrony Financial^(a)
	5,240,000		2.850		07/25/22	5,414,702
The Western Union Co.^(a)
	1,025,000		2.850		01/10/25	1,101,168

						110,293,892

Electrical – 2.4%
Ameren Corp.^(a)
	1,250,000		2.500		09/15/24	1,332,038
Avangrid, Inc.^(a)
	1,375,000		3.200		04/15/25	1,506,491
Berkshire Hathaway Energy Co.^(a)(b)
	1,225,000		4.050		04/15/25	1,390,277
Dominion Energy, Inc.
	2,125,000		2.715	^(e)	08/15/21	2,153,602
	5,800,000		2.450	^(b)	01/15/23	6,032,986
	525,000		3.071	^(e)	08/15/24	566,906
DTE Energy Co.
	650,000		2.600		06/15/22	670,261


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Electrical – (continued)
$	825,000		0.550	%	11/01/22	$ 828,284
	645,000		2.250		11/01/22	667,414
	3,375,000		1.050	^(a)	06/01/25	3,416,782
Entergy Corp.^(a)
	2,800,000		0.900		09/15/25	2,804,200
Entergy Louisiana LLC^(a)
	3,100,000		0.620		11/17/23	3,108,897
FirstEnergy Corp.^(a)
	850,000		2.050		03/01/25	847,867
Florida Power & Light Co.^(a)(c) (3M USD LIBOR + 0.380%)
	1,850,000		0.602		07/28/23	1,850,407
ITC Holdings Corp.^(a)
	4,050,000		2.700		11/15/22	4,213,174
NextEra Energy Capital Holdings, Inc.^(a)
	2,625,000		3.150		04/01/24	2,838,124
NRG Energy, Inc.^(a)(b)
	4,525,000		3.750		06/15/24	4,948,540
Pacific Gas and Electric Co.^(a)
	5,575,000		1.750		06/16/22	5,588,993
PPL Electric Utilities Corp.^(a)(c) (3M USD LIBOR + 0.250%)
	1,975,000		0.501		09/28/23	1,976,145
Public Service Enterprise Group, Inc.^(a)
	975,000		2.875		06/15/24	1,050,377
	2,075,000		0.800		08/15/25	2,077,324
Vistra Operations Co. LLC^(a)(b)
	3,325,000		3.550		07/15/24	3,591,000

						53,460,089

Electrical Components & Equipment^(a)(b) – 0.1%
Energizer Holdings, Inc.
	110,000		7.750		01/15/27	122,238
Wesco Distribution, Inc.
	2,845,000		7.125		06/15/25	3,118,831

						3,241,069

Electronics^(a) – 0.0%
Roper Technologies, Inc.
	975,000		2.350		09/15/24	1,038,151

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Entertainment^(a)(b) – 0.2%
Banijay Entertainment SASU
$	930,000		5.375	%	03/01/25	$ 962,550
Caesars Entertainment, Inc.
	1,895,000		6.250		07/01/25	2,018,175
Caesars Resort Collection LLC/CRC Finco, Inc.
	1,975,000		5.750		07/01/25	2,086,094
Lions Gate Capital Holdings LLC
	125,000		5.875		11/01/24	126,875

						5,193,694

Environmental^(a) – 0.3%
GFL Environmental, Inc.^(b)
	3,880,000		3.750		08/01/25	3,962,450
Waste Management, Inc.
	1,975,000		0.750		11/15/25	1,980,333

						5,942,783

Food^(a)(b) – 0.1%
US Foods, Inc.
	2,120,000		5.875		06/15/24	2,143,850

Food & Drug Retailing – 0.9%
Albertsons Cos, Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC^(a)(b)
	3,630,000		3.250		03/15/26	3,684,450
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertson’s LLC^(a)(b)
	110,000		7.500		03/15/26	122,513
B&G Foods, Inc.^(a)
	2,050,000		5.250		04/01/25	2,111,500
General Mills, Inc.
	1,500,000		3.700	^(a)	10/17/23	1,631,850
(3M USD LIBOR + 1.010%)
	2,175,000		1.228	^(c)	10/17/23	2,207,190
Lamb Weston Holdings, Inc.^(a)(b)
	1,930,000		4.625		11/01/24	2,012,025
Mondelez International, Inc.^(a)
	2,325,000		1.500		05/04/25	2,405,073
Smithfield Foods, Inc.^(a)(b)
	2,350,000		2.650		10/03/21	2,392,746
Sysco Corp.^(a)
	1,000,000		5.650		04/01/25	1,192,530


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Food & Drug Retailing – (continued)
The JM Smucker Co.
$	275,000		3.000	%	03/15/22	$ 283,294
Tyson Foods, Inc.^(a)
	875,000		3.900		09/28/23	953,216
US Foods, Inc.^(a)(b)
	1,055,000		6.250		04/15/25	1,127,531

						20,123,918

Forest Products & Paper^(b) – 0.2%
Georgia-Pacific LLC
	3,775,000		0.625		05/15/24	3,785,381

Gaming – 0.2%
MGM Resorts International
	625,000		7.750		03/15/22	665,625
	2,040,000		6.750	^(a)	05/01/25	2,208,300
	1,181,000		5.750	^(a)	06/15/25	1,302,053

						4,175,978

Gas^(a) – 0.5%
NiSource, Inc.
	11,050,000		0.950		08/15/25	11,115,305
The East Ohio Gas Co.^(b)
	575,000		1.300		06/15/25	586,736

						11,702,041

Healthcare Providers & Services – 0.8%
Acadia Healthcare Co., Inc.^(a)
	1,950,000		5.625		02/15/23	1,957,312
	120,000		6.500		03/01/24	122,850
Aetna, Inc.^(a)
	2,950,000		2.800		06/15/23	3,106,114
Centene Corp.^(a)
	1,900,000		4.250		12/15/27	2,022,246
DH Europe Finance II S.a.r.l.^(a)
	650,000		2.200		11/15/24	689,007
HCA, Inc.
	1,089,000		5.875		05/01/23	1,192,455
	1,330,000		5.375		02/01/25	1,491,262
Hill-Rom Holdings, Inc.^(a)(b)
	2,050,000		5.000		02/15/25	2,101,250

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Healthcare Providers & Services – (continued)
SSM Health Care Corp.^(a)
$	2,335,000		3.688	%	06/01/23	$ 2,493,490
Stryker Corp.^(a)
	1,275,000		1.150		06/15/25	1,300,742
Tenet Healthcare Corp.
	500,000		6.750		06/15/23	536,250
	1,952,000		5.125	^(a)	05/01/25	1,981,280

						18,994,258

Home Building & Related^(a) – 0.1%
Beacon Roofing Supply, Inc.
	1,105,000		4.875		11/01/25	1,132,625

Household Products^(a) – 0.2%
Prestige Brands, Inc.^(b)
	1,900,000		6.375		03/01/24	1,942,750
Spectrum Brands, Inc.
	1,900,000		5.750		07/15/25	1,959,375

						3,902,125

Insurance – 1.1%
American International Group, Inc.
	275,000		4.875		06/01/22	292,047
	1,875,000		4.125		02/15/24	2,074,275
	2,000,000		2.500	^(a)	06/30/25	2,150,900
Athene Global Funding^(b)
	1,715,000		2.800		05/26/23	1,791,935
	5,600,000		1.200		10/13/23	5,635,056
Equitable Financial Life Global Funding^(b)
	1,550,000		1.400		07/07/25	1,590,533
Great-West Lifeco US Finance 2020 LP^(a)(b)
	2,000,000		0.904		08/12/25	2,008,840
Principal Life Global Funding II^(b)
	3,850,000		0.500		01/08/24	3,853,195
Protective Life Global Funding^(b)
	1,725,000		1.082		06/09/23	1,753,859
	1,800,000		0.631		10/13/23	1,809,504
Reliance Standard Life Global Funding II^(b)
	1,025,000		2.150		01/21/23	1,052,101

						24,012,245


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Internet – 0.6%
Expedia Group, Inc.^(a)
$	5,450,000		3.600	%^(b)	12/15/23	$ 5,815,422
	1,675,000		4.500		08/15/24	1,824,611
	1,790,000		5.000		02/15/26	1,999,734
Netflix, Inc.
	1,100,000		5.875		02/15/25	1,262,250
Uber Technologies, Inc.^(a)(b)
	2,030,000		7.500		05/15/25	2,189,863

						13,091,880

Iron/Steel^(a) – 0.0%
Cleveland-Cliffs, Inc.
	130,000		5.875		06/01/27	130,975
Steel Dynamics, Inc.
	345,000		2.400		06/15/25	367,166

						498,141

Lodging^(a) – 0.1%
Marriott International, Inc.
	1,650,000		3.600		04/15/24	1,761,903

Machinery - Construction & Mining^(a)(b) – 0.0%
The Manitowoc Co., Inc.
	125,000		9.000		04/01/26	135,000

Machinery-Diversified^(a) – 0.3%
Otis Worldwide Corp.
	4,000,000		2.056		04/05/25	4,240,560
(3M USD LIBOR + 0.450%)
	3,000,000		0.688	^(c)	04/05/23	2,999,670

						7,240,230

Media – 3.1%
AMC Networks, Inc.^(a)
	4,486,000		4.750		08/01/25	4,631,795
CCO Holdings LLC/CCO Holdings Capital Corp.^(a)(b)
	4,575,000		4.000		03/01/23	4,609,312
Charter Communications Operating LLC/Charter Communications Operating Capital^(a)
	1,650,000		4.464		07/23/22	1,738,638
	2,900,000		4.500		02/01/24	3,219,493
	16,800,000		4.908		07/23/25	19,532,016

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Media – (continued)
(3M USD LIBOR + 1.650%)
$	1,275,000		1.864	%^(c)	02/01/24	$ 1,306,888
Comcast Corp.^(a)
	6,950,000		3.100		04/01/25	7,642,915
CSC Holdings LLC
	1,150,000		6.750		11/15/21	1,196,000
	1,460,000		5.250		06/01/24	1,578,625
Diamond Sports Group LLC/Diamond Sports Finance Co.^(a)(b)
	125,000		6.625		08/15/27	75,625
DISH DBS Corp.
	2,565,000		6.750		06/01/21	2,609,887
	410,000		5.875		07/15/22	427,938
	915,000		5.875		11/15/24	957,319
Entercom Media Corp.^(a)(b)
	120,000		7.250		11/01/24	120,300
Fox Corp.^(a)
	3,150,000		4.030		01/25/24	3,467,173
Scripps Escrow, Inc.^(a)(b)
	120,000		5.875		07/15/27	125,100
The E.W. Scripps Co.^(a)(b)
	2,014,000		5.125		05/15/25	2,054,280
The Walt Disney Co.
	1,650,000		3.350		03/24/25	1,828,992
Time Warner Cable LLC^(a)
	1,448,000		4.000		09/01/21	1,468,142
Time Warner Entertainment Co. LP
	9,179,000		8.375		03/15/23	10,738,237

						69,328,675

Mining – 0.2%
Glencore Funding LLC^(a)(b)
	625,000		3.000		10/27/22	649,494
	4,200,000		1.625		09/01/25	4,313,904
Vedanta Resources Finance II PLC^(a)(b)
	200,000		13.875		01/21/24	210,125
Vedanta Resources Ltd.
	200,000		7.125		05/31/23	162,375
	240,000		6.125	^(a)	08/09/24	170,925

						5,506,823


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Miscellaneous Manufacturing – 0.2%
General Electric Co.
$	1,000,000		2.700	%	10/09/22	$ 1,038,990
Hillenbrand, Inc.^(a)
	890,000		5.750		06/15/25	963,425
Parker-Hannifin Corp.^(a)
	625,000		2.700		06/14/24	670,625
Trane Technologies Global Holding Co. Ltd.
	1,875,000		2.900		02/21/21	1,880,981

						4,554,021

Office^(a)(b) – 0.1%
Xerox Holdings Corp.
	2,065,000		5.000		08/15/25	2,188,900

Oil & Gas Services^(a) – 0.1%
Cenovus Energy, Inc.
	2,185,000		3.000		08/15/22	2,224,352

Oil Field Services – 1.7%
Canadian Natural Resources Ltd.^(a)
	1,400,000		2.950		01/15/23	1,464,148
	1,875,000		2.050		07/15/25	1,968,075
Chevron Corp.^(a)
	2,225,000		1.554		05/11/25	2,315,513
Continental Resources, Inc.^(a)
	2,000,000		3.800		06/01/24	2,060,000
Exxon Mobil Corp.^(a)
	1,850,000		2.992		03/19/25	2,025,176
Gazprom PJSC Via Gaz Capital SA
	670,000		5.999		01/23/21	671,675
Marathon Petroleum Corp.^(a)
	4,338,000		4.500		05/01/23	4,711,719
	4,200,000		4.750		12/15/23	4,657,632
Nabors Industries, Inc.
	14,000		4.625		09/15/21	12,425
Occidental Petroleum Corp.^(a)(c) (3M USD LIBOR + 1.450%)
	2,350,000		1.671		08/15/22	2,288,312
Ovintiv Exploration, Inc.
	125,000		5.750		01/30/22	129,728
Petrobras Global Finance B.V.
	5,130,000		6.250		03/17/24	5,832,169

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Oil Field Services – (continued)
Petroleos Mexicanos^(a)(b)
$	580,000		6.875	%	10/16/25	$ 634,317
Phillips 66^(a)
	3,200,000		0.900		02/15/24	3,208,896
Suncor Energy, Inc.
	3,375,000		2.800		05/15/23	3,551,681
Transocean Sentry Ltd.^(a)(b)
	1,825,255		5.375		05/15/23	1,660,982
USA Compression Partners LP/USA Compression Finance Corp.^(a)
	120,000		6.875		04/01/26	125,700
WPX Energy, Inc.^(a)
	120,000		5.250		09/15/24	130,200

						37,448,348

Packaging^(a)(b) – 0.3%
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc.
	2,035,000		6.000		02/15/25	2,108,769
	2,000,000		5.250		04/30/25	2,105,000
Berry Global, Inc.
	3,200,000		1.570		01/15/26	3,228,544

						7,442,313

Pharmaceuticals – 3.5%
AbbVie, Inc.
	3,875,000		3.375		11/14/21	3,976,447
	5,975,000		5.000	^(a)	12/15/21	6,164,168
	5,190,000		2.300		11/21/22	5,379,487
	7,800,000		3.850	^(a)	06/15/24	8,589,126
	23,400,000		2.600	^(a)	11/21/24	25,074,738
Bausch Health Americas, Inc.^(a)(b)
	110,000		9.250		04/01/26	122,513
Bausch Health Cos., Inc.^(a)(b)
	1,875,000		7.000		03/15/24	1,924,219
	735,000		6.125		04/15/25	756,131
Bayer US Finance II LLC^(a)(b)(c) (3M USD LIBOR + 1.010%)
	4,150,000		1.227		12/15/23	4,179,423
Becton Dickinson & Co.^(a)
	3,731,000		2.894		06/06/22	3,850,914
	1,200,000		3.363		06/06/24	1,301,388


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Pharmaceuticals – (continued)
$	5,800,000		3.734	%	12/15/24	$ 6,421,934
Bristol-Myers Squibb Co.^(a)
	1,275,000		2.900		07/26/24	1,383,592
Cigna Corp.^(a)
	1,080,000		3.750		07/15/23	1,166,335
(3M USD LIBOR + 0.650%)
	1,550,000		0.879	^(c)	09/17/21	1,550,279
CVS Health Corp.^(a)
	2,065,000		3.700		03/09/23	2,208,394
	365,000		2.625		08/15/24	391,003
Elanco Animal Health, Inc.
	1,375,000		4.912		08/27/21	1,402,463
	500,000		5.272	^(a)	08/28/23	545,564
Herbalife Nutrition Ltd./HLF Financing, Inc.^(a)(b)
	2,175,000		7.875		09/01/25	2,370,750
HLF Financing S.a.r.l. LLC/Herbalife International, Inc.^(a)(b)
	120,000		7.250		08/15/26	126,900
McKesson Corp.^(a)
	675,000		2.700		12/15/22	700,913

						79,586,681

Pipelines^(a) – 2.4%
Enbridge, Inc.
	2,725,000		2.900		07/15/22	2,825,879
	2,000,000		4.000		10/01/23	2,176,160
Energy Transfer Operating LP
	10,075,000		3.600		02/01/23	10,537,543
Energy Transfer Partners LP/Regency Energy Finance Corp.
	150,000		4.500		11/01/23	162,440
EQM Midstream Partners LP
	3,756,000		4.750		07/15/23	3,925,020
Kinder Morgan, Inc.^(b)
	1,600,000		5.000		02/15/21	1,604,848
MPLX LP
	2,050,000		3.500		12/01/22	2,153,361
	2,530,000		4.500		07/15/23	2,756,561
	8,300,000		1.750		03/01/26	8,583,445
(3M USD LIBOR + 1.100%)
	1,600,000		1.330	^(c)	09/09/22	1,600,384
NGPL PipeCo LLC^(b)
	215,000		4.375		08/15/22	224,176

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Pipelines^(a) – (continued)
$	410,000		4.875	%	08/15/27	$ 463,792
NuStar Logistics LP
	2,130,000		5.750		10/01/25	2,268,450
Plains All American Pipeline LP/PAA Finance Corp.
	4,125,000		2.850		01/31/23	4,262,899
Sabine Pass Liquefaction LLC
	4,275,000		6.250		03/15/22	4,498,796
	225,000		5.625		04/15/23	246,850
Targa Resources Partners LP/Targa Resources Partners Finance Corp.
	1,950,000		5.125		02/01/25	1,993,875
The Williams Cos., Inc.
	2,025,000		3.600		03/15/22	2,090,327
Western Midstream Operating LP
	1,300,000		5.375		06/01/21	1,306,500

						53,681,306

Pipelines^(a) – 0.4%
Kinder Morgan, Inc.^(b)
	4,550,000		5.625		11/15/23	5,128,168
MPLX LP
	1,225,000		4.875		12/01/24	1,405,443
The Williams Cos., Inc.
	1,425,000		4.500		11/15/23	1,570,450

						8,104,061

Real Estate^(a) – 0.1%
Easy Tactic Ltd.
	200,000		8.625		03/05/24	176,938
Kaisa Group Holdings Ltd.
	200,000		11.250		04/16/25	204,375
Realogy Group LLC/Realogy Co-Issuer Corp.^(b)
	125,000		9.375		04/01/27	138,438
Realogy Group LLC/Realogy Co.-Issuer Corp.^(b)
	1,765,000		7.625		06/15/25	1,910,612
Yuzhou Group Holdings Co. Ltd.
	200,000		7.700		02/20/25	214,312

						2,644,675

Real Estate Investment Trust – 1.9%
Alexandria Real Estate Equities, Inc.^(a)
	375,000		4.000		01/15/24	412,515


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Real Estate Investment Trust – (continued)
American Tower Corp.
$	4,000,000		3.000	%	06/15/23	$ 4,242,920
	1,875,000		0.600		01/15/24	1,876,050
	1,325,000		3.375	^(a)	05/15/24	1,442,302
	1,150,000		2.400	^(a)	03/15/25	1,224,750
	1,400,000		1.300	^(a)	09/15/25	1,431,374
Boston Properties LP^(a)
	175,000		4.125		05/15/21	175,704
Crown Castle International Corp.
	5,211,000		5.250		01/15/23	5,699,015
	1,750,000		1.350	^(a)	07/15/25	1,786,663
	8,300,000		4.450	^(a)	02/15/26	9,608,744
MGM Growth Properties Operating Partnership LP/MGP Finance Co-Issuer, Inc.^(a)
	2,510,000		5.625		05/01/24	2,717,075
National Retail Properties, Inc.^(a)
	435,000		3.900		06/15/24	471,170
Simon Property Group LP^(a)
	726,000		2.750		06/01/23	760,964
SL Green Operating Partnership LP^(a)
	2,575,000		3.250		10/15/22	2,656,241
Ventas Realty LP^(a)
	1,375,000		3.500		04/15/24	1,503,191
VEREIT Operating Partnership LP^(a)
	4,265,000		4.600		02/06/24	4,696,277
VICI Properties LP/VICI Note Co., Inc.^(a)(b)
	2,140,000		3.500		02/15/25	2,182,800
WP Carey, Inc.^(a)
	285,000		4.600		04/01/24	317,524
	230,000		4.000		02/01/25	254,355

						43,459,634

Retailing^(a) – 1.0%
1011778 BC ULC/New Red Finance, Inc.^(b)
	320,000		4.250		05/15/24	326,400
Alimentation Couche-Tard, Inc.^(b)
	425,000		2.700		07/26/22	438,813
AutoZone, Inc.
	1,700,000		3.125		04/18/24	1,830,373

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Retailing^(a) – (continued)
Beacon Roofing Supply, Inc.^(b)
$	1,207,000		4.875	%	11/01/25	$ 1,237,175
Burlington Coat Factory Warehouse Corp.^(b)
	2,345,000		6.250		04/15/25	2,491,562
Lowe’s Cos, Inc.
	7,825,000		4.000		04/15/25	8,889,669
Nordstrom, Inc.
	2,650,000		4.000		10/15/21	2,683,125
PetSmart, Inc.^(b)
	2,090,000		5.875		06/01/25	2,142,250
Yum! Brands, Inc.^(b)
	1,875,000		7.750		04/01/25	2,076,563

						22,115,930

Savings & Loans^(b) – 0.4%
Nationwide Building Society
	2,725,000		2.000		01/27/23	2,813,317
(3M USD LIBOR + 1.064%)
	3,206,000		3.766	^(a)(c)	03/08/24	3,412,018
(3M USD LIBOR + 1.181%)
	2,075,000		3.622	^(a)(c)	04/26/23	2,155,240

						8,380,575

Semiconductors – 2.2%
Broadcom Corp./Broadcom Cayman Finance Ltd.^(a)
	21,330,000		3.625		01/15/24	23,073,301
Broadcom, Inc.
	5,375,000		3.125		10/15/22	5,628,431
	5,250,000		3.625	^(a)	10/15/24	5,764,552
	6,625,000		4.700	^(a)	04/15/25	7,595,695
Microchip Technology, Inc.
	1,125,000		3.922		06/01/21	1,141,107
	1,800,000		2.670	^(b)	09/01/23	1,884,618
NXP B.V./NXP Funding LLC^(b)
	1,600,000		3.875		09/01/22	1,688,112
	2,440,000		4.625		06/01/23	2,669,311
	250,000		2.700	^(a)	05/01/25	268,743

						49,713,870

Software^(a) – 0.8%
Fiserv, Inc.
	1,950,000		3.800		10/01/23	2,125,169


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Software^(a) – (continued)
$	6,300,000		2.750	%	07/01/24	$ 6,765,948
Infor, Inc.^(b)
	1,025,000		1.450		07/15/23	1,042,599
	1,075,000		1.750		07/15/25	1,114,313
Intuit, Inc.
	1,100,000		0.950		07/15/25	1,113,827
Oracle Corp.
	2,825,000		2.500		04/01/25	3,034,869
PTC, Inc.^(b)
	2,085,000		3.625		02/15/25	2,147,550

						17,344,275

Telecommunication Services – 3.9%
AT&T, Inc.^(a)
	975,000		3.000		06/30/22	1,008,667
	1,850,000		4.450		04/01/24	2,064,896
	11,320,000		3.950		01/15/25	12,732,962
	5,150,000		3.400		05/15/25	5,721,650
CenturyLink, Inc.
	1,810,000		6.450		06/15/21	1,848,462
	1,005,000		7.500	^(a)	04/01/24	1,125,600
CommScope Technologies LLC^(a)(b)
	112,000		6.000		06/15/25	114,240
CommScope, Inc.^(a)
	750,000		5.500		03/01/24	772,860
	1,110,000		5.500	^(b)	03/01/24	1,141,913
Level 3 Financing, Inc.^(a)
	1,925,000		5.375		05/01/25	1,973,125
Qwest Corp.
	650,000		6.750		12/01/21	679,354
SoftBank Group Corp.^(a)
	200,000		5.125		09/19/27	212,500
Sprint Communications, Inc.
	770,000		6.000		11/15/22	831,600
Sprint Corp.
	1,000,000		7.250		09/15/21	1,040,000
	640,000		7.875		09/15/23	740,800
T-Mobile USA, Inc.^(a)
	9,750,000		4.000		04/15/22	10,042,500

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
$	1,120,000		6.000	%	04/15/24	$ 1,131,200
	21,574,000		3.500	^(b)	04/15/25	23,843,693
	10,250,000		1.500	^(b)	02/15/26	10,499,895
Telecom Italia SpA^(b)
	1,125,000		5.303		05/30/24	1,224,831
Verizon Communications, Inc.^(a)
	9,000,000		0.850		11/20/25	9,071,910

						87,822,658

Toys/Games/Hobbies^(a)(b) – 0.0%
Mattel, Inc.
	125,000		5.875		12/15/27	138,750

Transportation^(a) – 0.6%
FedEx Corp.
	8,775,000		3.800		05/15/25	9,910,661
United Parcel Service, Inc.
	1,925,000		3.900		04/01/25	2,175,423
XPO Logistics, Inc.^(b)
	2,100,000		6.500		06/15/22	2,097,375

						14,183,459

Trucking & Leasing^(a)(b) – 0.3%
Penske Truck Leasing Co LP/PTL Finance Corp.
	4,950,000		1.200		11/15/25	4,997,421
SMBC Aviation Capital Finance DAC
	1,200,000		3.550		04/15/24	1,272,564

						6,269,985

TOTAL CORPORATE OBLIGATIONS (Cost $1,518,510,391)						$1,554,792,636



Mortgage-Backed Obligations – 18.2%
Collateralized Mortgage Obligations – 2.2%
Interest Only^(f) – 1.2%
FHLMC REMIC Series 3852, Class SW^(c) (-1x 1M USD LIBOR + 6.000%)
$	544,177		5.841	%	05/15/41	$ 81,801
FHLMC REMIC Series 4314, Class SE^(c) (-1x 1M USD LIBOR + 6.050%)
	441,966		5.891		03/15/44	71,377
FHLMC REMIC Series 4320, Class SD^(c) (-1x 1M USD LIBOR + 6.100%)
	117,291		5.941		07/15/39	23,160


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Interest Only^(f) – (continued)
FHLMC REMIC Series 4468, Class SY^(c) (-1x 1M USD LIBOR + 6.100%)
$	748,530		5.941	%	05/15/45	$ 159,864
FHLMC REMIC Series 4583, Class ST^(c) (-1x 1M USD LIBOR + 6.000%)
	489,706		5.841		05/15/46	84,762
FHLMC REMIC Series 4792, Class SA^(c) (-1x 1M USD LIBOR + 6.200%)
	555,605		6.041		05/15/48	65,276
FHLMC REMIC Series 4905, Class SA^(c) (-1x 1M USD LIBOR + 6.100%)
	1,017,396		5.952		08/25/49	178,848
FHLMC REMIC Series 4936, Class ES^(c) (-1x 1M USD LIBOR + 6.000%)
	260,176		5.852		12/25/49	34,390
FHLMC REMIC Series 4936, Class PS^(c) (-1x 1M USD LIBOR + 6.000%)
	468,416		5.852		12/25/49	61,639
FHLMC REMIC Series 4980, Class KI
	16,539,900		4.500		06/25/50	2,264,546
FHLMC REMIC Series 4991, Class IE
	5,730,401		5.000		07/25/50	750,913
FHLMC REMIC Series 4998, Class GI
	6,092,470		4.000		08/25/50	847,652
FHLMC REMIC Series 5009, Class DI
	2,718,092		2.000		09/25/50	217,813
FHLMC REMIC Series 5012, Class DI
	1,248,196		4.000		09/25/50	174,046
FHLMC REMIC Series 5020, Class IH
	2,498,011		3.000		08/25/50	296,468
FHLMC STRIPS Series 304, Class C45
	158,716		3.000		12/15/27	8,894
FNMA REMIC Series 2010-135, Class AS^(c) (-1x 1M USD LIBOR + 5.950%)
	141,915		5.802		12/25/40	20,985
FNMA REMIC Series 2015-34, Class LS^(c) (-1x 1M USD LIBOR + 6.100%)
	1,358,419		5.952		06/25/45	274,479
FNMA REMIC Series 2016-1, Class SJ^(c) (-1x 1M USD LIBOR + 6.150%)
	701,335		6.002		02/25/46	121,660
FNMA REMIC Series 2017-31, Class SG^(c) (-1x 1M USD LIBOR + 6.100%)
	804,950		5.952		05/25/47	153,518

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Interest Only^(f) – (continued)
FNMA REMIC Series 2017-86, Class SB^(c) (-1x 1M USD LIBOR + 6.150%)
$	599,850		6.002	%	11/25/47	$ 108,242
FNMA REMIC Series 2018-17, Class CS^(c) (-1x 1M USD LIBOR + 3.450%)
	4,073,739		2.500		03/25/48	257,270
FNMA REMIC Series 2020-45, Class AI
	850,345		4.000		07/25/50	108,373
FNMA REMIC Series 2020-45, Class EI
	863,437		5.000		07/25/50	133,102
FNMA REMIC Series 2020-49, Class IO
	741,079		4.000		07/25/50	100,815
FNMA REMIC Series 2020-49, Class KS^(c) (-1x 1M USD LIBOR + 6.100%)
	5,157,186		5.952		07/25/50	1,023,019
FNMA REMIC Series 2020-60, Class KI
	4,266,522		2.000		09/25/50	351,036
FNMA REMIC Series 2020-60, Class NI
	1,159,204		4.000		09/25/50	161,973
FNMA REMIC Series 2020-62, Class GI
	4,907,511		4.000		06/25/48	749,395
GNMA REMIC Series 2010-101, Class S^(c) (-1x 1M USD LIBOR + 6.000%)
	104,687		5.848		08/20/40	20,589
GNMA REMIC Series 2010-20, Class SE^(c) (-1x 1M USD LIBOR + 6.250%)
	79,352		6.098		02/20/40	15,977
GNMA REMIC Series 2013-124, Class CS^(c) (-1x 1M USD LIBOR + 6.050%)
	443,918		5.898		08/20/43	90,174
GNMA REMIC Series 2013-134, Class DS^(c) (-1x 1M USD LIBOR + 6.100%)
	50,661		5.948		09/20/43	10,086
GNMA REMIC Series 2013-152, Class TS^(c) (-1x 1M USD LIBOR + 6.100%)
	161,191		5.948		06/20/43	32,760
GNMA REMIC Series 2014-117, Class SJ^(c) (-1x 1M USD LIBOR + 5.600%)
	1,266,307		5.448		08/20/44	211,268
GNMA REMIC Series 2014-132, Class SL^(c) (-1x 1M USD LIBOR + 6.100%)
	431,158		5.948		10/20/43	62,580
GNMA REMIC Series 2014-133, Class BS^(c) (-1x 1M USD LIBOR + 5.600%)
	415,425		5.448		09/20/44	72,886


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Interest Only^(f) – (continued)
GNMA REMIC Series 2014-158, Class SA^(c) (-1x 1M USD LIBOR + 5.600%)
$	596,446		5.447	%	10/16/44	$ 105,582
GNMA REMIC Series 2014-162, Class SA^(c) (-1x 1M USD LIBOR + 5.600%)
	173,179		5.448		11/20/44	28,852
GNMA REMIC Series 2015-110, Class MS^(c) (-1x 1M USD LIBOR + 5.710%)
	3,850,156		5.558		08/20/45	671,555
GNMA REMIC Series 2015-111, Class IM
	582,896		4.000		08/20/45	63,486
GNMA REMIC Series 2015-123, Class SP^(c) (-1x 1M USD LIBOR + 6.250%)
	304,377		6.098		09/20/45	58,487
GNMA REMIC Series 2015-57, Class AS^(c) (-1x 1M USD LIBOR + 5.600%)
	706,081		5.448		04/20/45	118,557
GNMA REMIC Series 2015-95, Class GI
	339,960		4.500		07/16/45	61,580
GNMA REMIC Series 2016-109, Class IH
	1,544,224		4.000		10/20/45	174,989
GNMA REMIC Series 2016-27, Class IA
	237,574		4.000		06/20/45	21,531
GNMA REMIC Series 2017-112, Class SJ^(c) (-1x 1M USD LIBOR + 5.660%)
	331,697		5.508		07/20/47	51,033
GNMA REMIC Series 2018-105, Class SC^(c) (-1x 1M USD LIBOR + 6.200%)
	281,792		6.048		08/20/48	43,201
GNMA REMIC Series 2018-122, Class HS^(c) (-1x 1M USD LIBOR + 6.200%)
	743,203		6.048		09/20/48	131,914
GNMA REMIC Series 2018-122, Class SE^(c) (-1x 1M USD LIBOR + 6.200%)
	779,722		6.048		09/20/48	121,145
GNMA REMIC Series 2018-139, Class SQ^(c) (-1x 1M USD LIBOR + 6.150%)
	861,825		5.998		10/20/48	128,213
GNMA REMIC Series 2018-147, Class SA^(c) (-1x 1M USD LIBOR + 6.200%)
	3,834,975		6.048		10/20/48	630,740
GNMA REMIC Series 2018-72, Class IB
	260,942		4.000		04/20/46	34,043

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Interest Only^(f) – (continued)
GNMA REMIC Series 2019-1, Class SN^(c) (-1x 1M USD LIBOR + 6.050%)
$	877,140		5.898	%	01/20/49	$ 129,452
GNMA REMIC Series 2019-110, Class SD^(c) (-1x 1M USD LIBOR + 6.100%)
	840,171		5.948		09/20/49	129,369
GNMA REMIC Series 2019-110, Class SE^(c) (-1x 1M USD LIBOR + 6.100%)
	856,777		5.948		09/20/49	122,776
GNMA REMIC Series 2019-128, Class IO
	1,421,520		4.000		10/20/49	168,264
GNMA REMIC Series 2019-129, Class AI
	2,755,991		3.500		10/20/49	307,093
GNMA REMIC Series 2019-151, Class IA
	4,132,580		3.500		12/20/49	446,489
GNMA REMIC Series 2019-151, Class NI
	3,884,634		3.500		10/20/49	346,745
GNMA REMIC Series 2019-20, Class SF^(c) (-1x 1M USD LIBOR + 3.790%)
	1,873,307		3.638		02/20/49	159,063
GNMA REMIC Series 2019-4, Class SJ^(c) (-1x 1M USD LIBOR + 6.050%)
	739,042		5.898		01/20/49	116,628
GNMA REMIC Series 2019-52, Class SK^(c) (-1x 1M USD LIBOR + 6.050%)
	1,639,215		5.898		04/20/49	224,852
GNMA REMIC Series 2019-69, Class S^(c) (-1x 1M USD LIBOR + 3.270%)
	2,242,357		3.118		06/20/49	172,309
GNMA REMIC Series 2019-78, Class SE^(c) (-1x 1M USD LIBOR + 6.100%)
	417,789		5.948		06/20/49	62,957
GNMA REMIC Series 2019-97, Class SC^(c) (-1x 1M USD LIBOR + 6.100%)
	666,460		5.948		08/20/49	101,766
GNMA REMIC Series 2019-98, Class SC^(c) (-1x 1M USD LIBOR + 6.050%)
	1,999,211		5.898		08/20/49	312,175
GNMA REMIC Series 2020-11, Class SA^(c) (-1x 1M USD LIBOR + 6.050%)
	2,684,508		5.898		02/20/50	451,163
GNMA REMIC Series 2020-11, Class SN^(c) (-1x 1M USD LIBOR + 6.050%)
	11,113,336		5.898		01/20/50	1,792,502


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Interest Only^(f) – (continued)
GNMA REMIC Series 2020-146, Class IM
$	567,838		2.500	%	10/20/50	$ 67,405
GNMA REMIC Series 2020-146, Class KI
	5,984,873		2.500		10/20/50	582,249
GNMA REMIC Series 2020-151, Class HI
	8,346,997		2.500		10/20/50	476,222
GNMA REMIC Series 2020-151, Class MI
	9,347,486		2.500		10/20/50	1,119,385
GNMA REMIC Series 2020-173, Class AI
	3,791,317		2.500		11/20/50	235,795
GNMA REMIC Series 2020-51, Class ID
	1,649,354		3.500		04/20/50	153,749
GNMA REMIC Series 2020-55, Class AS^(c) (-1x 1M USD LIBOR + 6.050%)
	17,446,663		5.898		04/20/50	3,011,264
GNMA REMIC Series 2020-55, Class IO
	13,927,933		3.500		04/20/50	1,575,077
GNMA REMIC Series 2020-61, Class GI
	6,503,125		5.000		05/20/50	667,870
GNMA REMIC Series 2020-61, Class SF^(c) (-1x 1M USD LIBOR + 6.440%)
	4,153,775		6.288		07/20/43	811,296
GNMA REMIC Series 2020-78, Class DI
	5,317,580		4.000		06/20/50	686,010
GNMA REMIC Series 2020-79, Class AI
	869,342		4.000		06/20/50	89,671

						26,366,140

Regular Floater^(c) – 0.0%
FNMA REMIC Series 2007-33, Class HF (1M USD LIBOR + 0.350%)
	14,078		0.498		04/25/37	14,144

Sequential Fixed Rate – 0.4%
FHLMC REMIC Series 4619, Class NA
	1,308,453		3.000		03/15/44	1,400,177
FHLMC REMIC Series 4630, Class MC
	950,841		4.000		08/15/54	1,030,322
FHLMC REMIC Series 4649, Class ML
	6,391,130		4.000		11/15/54	6,910,878
FNMA REMIC Series 2012-111, Class B
	17,141		7.000		10/25/42	21,085

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Sequential Fixed Rate – (continued)
FNMA REMIC Series 2012-153, Class B
$	57,609		7.000	%	07/25/42	$ 72,409

						9,434,871

Sequential Floating Rate^(b)(c) – 0.6%
FHLMC STACR REMIC Trust Series 2020-DNA2, Class B1(1M USD LIBOR + 2.500%)
	1,130,000		2.648		02/25/50	1,088,155
FHLMC STACR REMIC Trust Series 2020-DNA2, Class M2(1M USD LIBOR + 1.850%)
	2,005,000		1.998		02/25/50	1,992,308
FHLMC STACR REMIC Trust Series 2020-DNA3, Class B1(1M USD LIBOR + 5.100%)
	605,000		5.248		06/25/50	626,153
FHLMC STACR REMIC Trust Series 2020-DNA5, Class B1(SOFR30A + 4.800%)
	1,900,000		4.882		10/25/50	1,959,675
FHLMC STACR REMIC Trust Series 2020-DNA5, Class M2(SOFR30A + 2.800%)
	902,000		2.882		10/25/50	911,600
FHLMC STACR REMIC Trust Series 2020-DNA6, Class B1(SOFR30A + 3.000%)
	2,415,000		3.077		12/25/50	2,416,904
FHLMC STACR REMIC Trust Series 2020-HQA4, Class M2(1M USD LIBOR + 3.150%)
	2,080,000		3.298		09/25/50	2,099,198
FHLMC STACR REMIC Trust Series 2020-HQA5, Class B1(SOFR30A + 4.000%)
	1,268,000		4.082		11/25/50	1,302,817
New Residential Mortgage Loan Trust Series 2015-1A, Class A1
	185,463		3.750		05/28/52	197,286

						12,594,096

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS						$ 48,409,251

Commercial Mortgage-Backed Securities – 0.7%
Sequential Fixed Rate^(b) – 0.5%
BANK Series 2017-BNK9, Class D
$	700,000		2.800	%	11/15/54	$ 583,628
Bank Series 2018-BK15, Class D
	1,170,000		3.000		11/15/61	924,333
Cantor Commercial Real Estate Lending Series 2019-CF2, Class E
	1,200,000		2.500		11/15/52	882,263
Citigroup Commercial Mortgage Trust Series 2017-P8, Class D
	1,500,000		3.000		09/15/50	1,216,007


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Sequential Fixed Rate^(b) – 0.5%
CSAIL 2020-C19 Commercial Mortgage Trust Series 2020-C19, Class E
$	884,000		2.500	%	03/15/53	$ 693,321
JPMBD Commercial Mortgage Series 2017-C7, Class D
	980,000		3.000		10/15/50	771,592
Morgan Stanley Capital I Trust Series 2018-L1, Class D
	2,200,000		3.000		10/15/51	1,908,959
Wells Fargo Commercial Mortgage Trust Series 2017-C38, Class D
	1,000,000		3.000		07/15/50	888,510
Wells Fargo Commercial Mortgage Trust Series 2017-RB1, Class D
	1,748,000		3.401		03/15/50	1,640,271
Wells Fargo Commercial Mortgage Trust Series 2017-RC1, Class D
	900,000		3.250		01/15/60	678,739
Wells Fargo Commercial Mortgage Trust Series 2020-C55, Class D
	1,100,000		2.500		02/15/53	892,687

						11,080,310

Sequential Floating Rate – 0.2%
Bancorp Commercial Mortgage Trust Series 2018-CRE4, Class A^(b)(c)(1M USD LIBOR + 0.900%)
	43,845		1.059		09/15/35	43,666
Citigroup Commercial Mortgage Trust Series 2016-GC36, Class C^(c)
	1,200,000		4.755		02/10/49	1,168,746
Citigroup Commercial Mortgage Trust Series 2015-P1, Class C^(c)
	1,949,000		4.369		09/15/48	1,969,742
DBJPM 17-C6 Mortgage Trust Series 2017-C6, Class D^(b)(c)
	1,000,000		3.234		06/10/50	878,765
Morgan Stanley Bank of America Merrill Lynch Trust Series 2015-C23, Class D^(b)(c)
	550,000		4.145		07/15/50	540,101
Morgan Stanley Bank of America Merrill Lynch Trust Series 2015-C26, Class D^(b)
	500,000		3.060		10/15/48	470,578

						5,071,598

TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES						$ 16,151,908

Federal Agencies – 15.3%
GNMA – 7.3%
$	3,414,616		4.500	%	08/20/47	$ 3,727,260
	443,689		5.000		08/20/48	486,401
	1,581,318		5.000		11/20/48	1,730,583
	6,184,912		5.000		12/20/48	6,768,721
	4,827,128		4.500		01/20/49	5,209,895

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
GNMA – (continued)
$	3,439,875		4.500	%	03/20/49	$ 3,711,565
	889,164		5.000		03/20/49	971,219
	90,618		5.000		04/20/49	98,924
	140,178		5.000		08/20/49	152,604
	3,133,039		4.500		10/20/49	3,374,153
	1,511,083		4.500		12/20/49	1,619,975
	6,322,173		5.000		12/20/49	6,882,608
	222,899		5.000		02/20/50	243,623
	3,662,030		4.500		03/20/50	3,919,509
	42,000,000		2.000		TBA-30yr^(g)	43,920,234
	68,000,000		2.500		TBA-30yr^(g)	71,945,849
	9,000,000		5.000		TBA-30yr^(g)	9,817,031

						164,580,154

UMBS – 2.4%
	622,960		5.000		04/01/48	689,978
	1,099,381		5.000		10/01/48	1,217,653
	2,007,759		5.000		11/01/48	2,224,123
	4,734,571		4.500		02/01/49	5,126,095
	20,788,664		4.500		03/01/49	22,506,652
	287,326		5.000		03/01/49	317,835
	50,058		5.000		04/01/49	55,563
	432,125		5.000		09/01/49	478,144
	15,656,748		5.000		10/01/49	17,343,977
	1,955,118		5.000		11/01/49	2,159,660
	270,662		5.000		01/01/50	298,978
	82,462		5.000		03/01/50	91,530
	1,982,973		5.000		04/01/50	2,201,464

						54,711,652

UMBS, 30 Year, Single Family^(g) – 5.6%
	29,000,000		2.000		TBA-30yr	30,146,271
	37,000,000		3.500		TBA-30yr	39,115,949
	3,000,000		4.000		TBA-30yr	3,203,672
	41,000,000		4.500		TBA-30yr	44,433,750
	8,000,000		5.000		TBA-30yr	8,852,500

						125,752,142

TOTAL FEDERAL AGENCIES						$ 345,043,948

TOTAL MORTGAGE-BACKED OBLIGATIONS (Cost $406,080,496)						$ 409,605,107



Asset-Backed Securities – 7.3%
Automotive – 0.3%
Ford Credit Auto Owner Trust Series 2016-2, Class A^(b)
$	450,000		2.030	%	12/15/27	$ 453,855
Ford Credit Floorplan Master Owner Trust Series 2019-4, Class A
	3,750,000		2.440		09/15/26	4,000,205
GMF Floorplan Owner Revolving Trust Series 2019-2, Class A^(b)
	2,785,000		2.900		04/15/26	2,998,315

						7,452,375


Principal Amount		Interest Rate			Maturity Date	Value

Asset-Backed Securities – (continued)
Collateralized Loan Obligations^(b)(c) – 6.3%
AIMCO CLO Series 2017-AA, Class A (3M USD LIBOR + 1.260%)
$	3,150,000		1.478	%	07/20/29	$ 3,149,764
Apex Credit CLO II LLC Series 2020-1A, Class A1N(3M USD LIBOR + 1.570%)
	5,000,000		1.819		10/20/31	5,012,120
Bain Capital Credit CLO Ltd. Series 2016-2A, Class AR(3M USD LIBOR + 1.140%)
	1,994,191		1.377		01/15/29	1,992,227
Barings CLO Ltd.IV Series 2020-4A, Class D1 (-1x 3M USD LIBOR + 3.700%)
	2,250,000		0.000		01/20/32	2,251,170
Bowman Park CLO Ltd. Series 2014-1A, Class AR(3M USD LIBOR + 1.180%)
	130,850		1.393		11/23/25	130,902
BSPRT Issuer Ltd. Series 2018 FL4, Class A(1M USD LIBOR + 1.050%)
	4,398,228		1.209		09/15/35	4,373,905
Cedar Funding II CLO Ltd. Series 2013-1A, Class A1R(3M USD LIBOR + 1.230%)
	3,100,000		1.460		06/09/30	3,100,109
Crown City CLO I Series 2020-1A, Class A1(3M USD LIBOR + 2.050%)
	2,500,000		2.357		07/20/30	2,510,520
Crown City CLO II Series 2020-2A, Class C (3M USD LIBOR + 3.820%)
	2,000,000		4.045		01/20/32	1,991,040
Cutwater Ltd. Series 2014-1A, Class A1AR (3M USD LIBOR + 1.250%)
	911,922		1.487		07/15/26	910,582
Halsey Point CLO I Ltd. Series 2019-1A, Class A1A1 (3M USD LIBOR + 1.350%)
	3,500,000		1.568		01/20/33	3,504,812
Halseypoint CLO 2 Ltd. Series 2020-2A, Class A1 (3M USD LIBOR + 1.860%)
	5,250,000		2.078		07/20/31	5,266,301
HalseyPoint CLO 3 Ltd. Series 2020-3A, Class A1A (3M USD LIBOR + 1.450%)
	17,500,000		1.629		11/30/32	17,566,412
KREF Ltd. Series 2018-FL1, Class A(1M USD LIBOR + 1.100%)
	2,400,000		1.253		06/15/36	2,395,869
LCM 26, Ltd. Series 2026-A, Class A1 (3M USD LIBOR + 1.070%)
	8,400,000		1.288		01/20/31	8,357,740
LCM XX LP Series 2020-A, Class AR (3M USD LIBOR + 1.040%)
	6,000,000		1.258		10/20/27	5,991,480

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Asset-Backed Securities – (continued)
Collateralized Loan Obligations^(b)(c) – (continued)
Madison Park Funding XXX Ltd. Series 2018-30A, Class A (3M USD LIBOR + 0.750%)
$	16,200,000		0.987	%	04/15/29	$ 16,054,573
Marble Point CLO XIX Ltd. Series 2020-3A, Class D (3M USD LIBOR + 3.900%)
	2,200,000		3.990		01/19/34	2,185,709
Marble Point CLO XVII Ltd. Series 2020-1A, Class A (3M USD LIBOR + 1.300%)
	6,000,000		1.518		04/20/33	6,004,680
MJX Venture Management II LLC Series 2017-28RR, Class A1 (3M USD LIBOR + 1.280%)
	4,171,053		1.489		07/22/30	4,171,157
Newark BSL CLO 1 Ltd. Series 2016-1A, Class A1R (3M USD LIBOR + 1.100%)
	3,000,000		1.317		12/21/29	2,993,511
OCP CLO Ltd. Series 2015-8A, Class A1R (3M USD LIBOR + 0.850%)
	664,490		1.068		04/17/27	664,262
Orec Ltd. Series 2018-CRE1, Class A (1M USD LIBOR + 1.180%)
	1,500,000		1.339		06/15/36	1,475,529
Parallel Ltd. Series 2015-1A, Class AR (3M USD LIBOR + 0.850%)
	658,499		1.068		07/20/27	654,332
Park Avenue Institutional Advisers CLO Ltd. 2021-1 Series 2021-1A, Class A1A (3M USD LIBOR + 1.390%)
	11,000,000		1.590		01/20/34	11,000,000
Park Avenue Institutional Advisers CLO Ltd. 2021-1 Series 2021-1A, Class C (3M USD LIBOR + 3.800%)
	3,000,000		3.920		01/20/34	3,000,000
PPM CLO 4 Ltd. Series 2020-4A, Class A1 (3M USD LIBOR + 1.420%)
	7,000,000		1.617		10/18/31	7,011,144
Recette CLO Ltd. Series 2015-1A, Class AR (3M USD LIBOR + 0.920%)
	2,749,084		1.138		10/20/27	2,747,003
Steele Creek CLO Ltd. Series 2019-1A, Class D (3M USD LIBOR + 4.100%)
	5,150,000		4.337		04/15/32	5,151,699
THL Credit Wind River 3 CLO Ltd. Series 2017-3A, Class A (3M USD LIBOR + 1.250%)
	1,197,000		1.487		10/15/30	1,197,002
Venture 36 CLO Ltd. Series 2019-36A, Class D (3M USD LIBOR + 4.150%)
	2,500,000		4.368		04/20/32	2,505,480
Whitehorse Ltd. Series 2014-9A, Class AR (3M USD LIBOR + 1.160%)
	517,610		1.378		07/17/26	517,403
WhiteHorse VIII Ltd. Series 2014-1A, Class AR (3M USD LIBOR + 0.900%)
	29,992		1.114		05/01/26	29,977


Principal Amount		Interest Rate			Maturity Date	Value

Asset-Backed Securities – (continued)
Collateralized Loan Obligations^(b)(c) – (continued)
Zais Clo 13 Ltd. Series 2019-13A, Class A1A (3M USD LIBOR + 1.490%)
$	3,000,000		1.727	%	07/15/32	$ 3,006,447
Zais CLO Ltd. Series 2020-15A, Class A1 (3M USD LIBOR + 2.555%)
	2,625,000		2.777		07/28/30	2,642,168

						141,517,029

Student Loan^(c) – 0.7%
Educational Services of America, Inc. Series 2012-1, Class A1^(b) (1M USD LIBOR + 1.150%)
	22,909		1.298		09/25/40	22,980
Educational Services of America, Inc. Series 2014-1, Class A^(b) (1M USD LIBOR + 0.700%)
	458,143		0.848		02/25/39	454,714
Educational Services of America, Inc. Series 2015-2, Class A^(b) (1M USD LIBOR + 1.000%)
	359,526		1.148		12/25/56	359,165
Higher Education Funding I Series 2014-1, Class A^(b) (3M USD LIBOR + 1.050%)
	4,168,294		1.257		05/25/34	4,176,341
Illinois Student Assistance Commission Series 2010-1, Class A3 (3M USD LIBOR + 0.900%)
	1,383,916		1.115		07/25/45	1,375,116
Kentucky Higher Education Student Loan Corp. Series 2015-1, Class A1(1M USD LIBOR + 0.750%)
	1,468,028		0.905		12/01/31	1,448,209
Montana Higher Education Student Assistance Corp. Series 2012-1, Class A2 (1M USD LIBOR + 1.000%)
	1,020,251		1.152		05/20/30	1,021,308
Northstar Education Finance, Inc. Series 2012-1, Class A^(b) (1M USD LIBOR + 0.700%)
	50,441		0.848		12/26/31	50,601
Pennsylvania Higher Education Assistance Agency Series 12-1A, Class A1^(b) (1M USD LIBOR + 0.550%)
	32,781		0.698		05/25/57	32,740
PHEAA Student Loan Trust Series 2016-1A, Class A^(b) (1M USD LIBOR + 1.150%)
	1,142,722		1.298		09/25/65	1,154,248
SLC Student Loan Center Series 2011-1, Class A^(b) (1M USD LIBOR + 1.220%)
	1,878,249		1.368		10/25/27	1,884,657
SLC Student Loan Trust Series 2005-3, Class A3 (3M USD LIBOR + 0.120%)
	602,841		0.337		06/15/29	598,893

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Asset-Backed Securities – (continued)
Student Loan^(c) – (continued)
SLM Student Loan Trust Series 2005-5, Class A4 (3M USD LIBOR + 0.140%)
$	752,362		0.355	%	10/25/28	$ 747,840
SLM Student Loan Trust Series 2007-7, Class A4 (3M USD LIBOR + 0.330%)
	677,950		0.545		01/25/22	646,654
SLM Student Loan Trust Series 2008-4, Class A4 (3M USD LIBOR + 1.650%)
	249,169		1.865		07/25/22	248,292
South Texas Higher Education Authority, Inc. Series 2012-1, Class A2 (3M USD LIBOR + 0.850%)
	121,017		1.075		10/01/24	121,091

						14,342,849

TOTAL ASSET-BACKED SECURITIES (Cost $162,729,364)						$ 163,312,253



Foreign Debt Obligations – 4.4%
Sovereign – 4.4%
Abu Dhabi Government International Bond
$	870,000		2.500	%	10/11/22	$ 900,259
Japan Treasury Discount Bill^(h)
JPY	7,039,000,000		0.000		03/15/21	68,184,667
Perusahaan Penerbit SBSN Indonesia III
$	4,310,000		2.300		06/23/25	4,504,898
	3,530,000		2.300	^(b)	06/23/25	3,689,626
Qatar Government International Bond
	870,000		2.375		06/02/21	876,797
	1,840,000		3.375	^(b)	03/14/24	1,988,925
	690,000		3.400	^(b)	04/16/25	760,294
Republic of Colombia^(a)
	5,690,000		4.000		02/26/24	6,145,200
Republic of Egypt
	3,710,000		4.550		11/20/23	3,841,009
	550,000		4.550	^(b)	11/20/23	569,422
Republic of Indonesia
	200,000		5.875		01/15/24	230,000
EUR	250,000		2.150	^(b)	07/18/24	324,501
Republic of Nigeria
$	1,390,000		6.750		01/28/21	1,389,566


Principal Amount		Interest Rate			Maturity Date	Value

Foreign Debt Obligations – (continued)
Sovereign – (continued)
Republic of Turkey
$	200,000		4.250	%	03/13/25	$ 200,312
Saudi Government International Bond^(b)
	800,000		2.900		10/22/25	862,000
Ukraine Government Bond
	1,500,000		7.750		09/01/21	1,555,500
	2,590,000		8.994		02/01/24	2,926,700

TOTAL FOREIGN DEBT OBLIGATIONS (Cost $97,631,392)						$ 98,949,676



Municipal Debt Obligations – 0.2%
California^(a) – 0.0%
San Francisco City & County Airport Commission RB Refunding for San Francisco International Airport Series 2019 C
$	380,000		3.146	%	05/01/23	$ 401,307

Connecticut – 0.1%
Connecticut State GO Bonds Series A
	3,000,000		3.130		01/15/24	3,232,080

Ohio^(a)(c) – 0.1%
Access to Loans for Learning Student Loan Corp. Series 2019 A-3 (3M USD LIBOR + 0.000%)
	2,023,765		1.015		04/25/37	2,034,268

TOTAL MUNICIPAL DEBT OBLIGATIONS (Cost $5,352,703)						$ 5,667,655



U.S. Treasury Obligations⁽ⁱ⁾ – 0.1%
United States Treasury Notes
$	100,000		1.875	%	02/28/22	$ 102,031
	610,000		0.500		04/30/27	608,284
	850,000		2.875		08/15/28	987,063

TOTAL U.S. TREASURY OBLIGATIONS (Cost $1,599,911)						$ 1,697,378


Shares		Description				Value

Exchange Traded Funds^(j) – 2.5%
	754,343		Goldman Sachs Access High Yield Corporate Bond ETF			37,988,713
	372,615		Goldman Sachs Access Investment Grade Corporate 1-5 Year Bond ETF			18,817,058

TOTAL EXCHANGE TRADED FUNDS (Cost $55,337,661)						$ 56,805,771

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Shares					Dividend Rate	Value

Investment Company^(j) – 5.5%
Goldman Sachs Financial Square Government Fund - Institutional Shares
	123,619,723				0.026%	$ 123,619,723
(Cost $123,619,723)

TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENT (Cost $2,370,861,641)						$2,414,450,199


Principal Amount		Interest Rate			Maturity Date	Value

Short-term Investments – 0.7%
Certificate of Deposit^(b) – 0.1%
Barclays Bank PLC^(c)(3M USD LIBOR + 1.400%)
$	3,000,000		0.666	%	08/03/21	$ 3,001,737
Commercial Paper^(h) – 0.6%
Bank of China Ltd
	8,687,000		0.000		05/24/21	8,667,819
VW Credit, Inc.
	2,500,000		0.000		01/29/21	2,499,563

						11,167,382

TOTAL SHORT-TERM INVESTMENTS (Cost $14,164,823)						$ 14,169,119

TOTAL INVESTMENTS – 108.1% (Cost $2,385,026,464)						$2,428,619,318

LIABILITIES IN EXCESS OF OTHER ASSETS – (8.1)%						(181,140,056)

NET ASSETS – 100.0%						$2,247,479,262



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

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

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

(c)		Variable rate security. Except for floating rate notes (for which final maturity is disclosed), maturity date disclosed is the next interest reset date. Interest rate disclosed is that which is in effect on December 31, 2020.

(d)		Pay-in-kind securities.

(e)		Coupon changes periodically based upon a predetermined schedule. Interest rate disclosed is that which is in effect on December 31, 2020.

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

(g)		TBA (To Be Announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement when the specific mortgage pools are assigned. Total market value of TBA securities (excluding forward sales contracts, if any) amounts to $251,435,256 which represents approximately 11.2% of the Fund’s net assets as of December 31, 2020.

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



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

(j)		Represents an affiliated issuer.



Currency Abbreviations:
AUD		— Australian Dollar
BRL		— Brazilian Real
CAD		— Canadian Dollar
CHF		— Swiss Franc
CNH		— Chinese Yuan Renminbi Offshore
COP		— Colombian Peso
EUR		— Euro
GBP		— British Pound
HUF		— Hungarian Forint
IDR		— Indonesian Rupiah
ILS		— Israeli Shekel
INR		— Indian Rupee
JPY		— Japanese Yen
KRW		— South Korean Won
MXN		— Mexican Peso
NOK		— Norwegian Krone
NZD		— New Zealand Dollar
PHP		— Philippine Peso
PLN		— Polish Zloty
RUB		— Russian Ruble
SEK		— Swedish Krona
SGD		— Singapore Dollar
THB		— Thai Baht
TRY		— Turkish Lira
TWD		— Taiwan Dollar
USD		— U.S. Dollar
ZAR		— South African Rand

Investment Abbreviations:
AUDOR		— Australian Dollar Offered Rate
CDOR		— Canadian Dollar Offered Rate
CHFOR		— Swiss Franc Offered Rate
CLO		— Collateralized Loan Obligation
CMT		— Constant Maturity Treasury Indexes
ETF		— Exchange Traded Fund
EURO		— Euro Offered Rate
FHLMC		— Federal Home Loan Mortgage Corp.
FNMA		— Federal National Mortgage Association
GNMA		— Government National Mortgage Association
GO		— General Obligation
JYOR		— Japanese Yen Offered Rate
LIBOR		— London Interbank Offered Rate
LLC		— Limited Liability Company
LP		— Limited Partnership
NIBOR		— Norwegian Interbank Offered Rate
NZDOR		— New Zealand Dollar Offered Rate
PLC		— Public Limited Company
RB		— Revenue Bond
REMIC		— Real Estate Mortgage Investment Conduit
SOFR		— Secured Overnight Funding Rate
STIBOR		— Stockholm Interbank Offered Rate
STRIPS		— Separate Trading of Registered Interest and Principal of Securities


For information on the mutual funds, please call our toll free Shareholder Services Line at 1-800-526-7384 or visit us on the web at www.GSAMFUNDS.com.

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS — At December 31, 2020, 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	AUD	894,797	EUR	553,359		03/17/21	$	13,080
	AUD	5,461,000	NZD	5,764,703		03/17/21		63,791
	AUD	1,816,088	USD	1,371,550		03/17/21		29,454
	BRL	5,510,572	USD	1,041,820		01/05/21		19,220
	BRL	3,508,757	USD	674,390		02/02/21		824
	CAD	5,001,773	USD	3,915,316		03/17/21		14,952
	CHF	1,171,255	USD	1,325,566		03/17/21		469
	CNH	22,045,542	USD	3,361,013		03/17/21		11,682
	COP	10,384,671,407	USD	2,871,654		01/29/21		168,964
	EUR	517,434	JPY	65,180,590		03/17/21		1,409
	EUR	1,617,732	PLN	7,323,356		03/17/21		18,734
	EUR	29,558,601	USD	35,885,167		03/17/21		288,737
	GBP	481,838	EUR	532,544		03/17/21		7,503
	GBP	2,802,399	USD	3,738,837		03/17/21		95,299
	IDR	46,476,523,070	USD	3,272,306		01/06/21		61,973
	ILS	3,517,811	USD	1,081,520		03/17/21		14,693
	INR	612,009,644	USD	8,234,868		01/27/21		121,829
	JPY	2,767,183,651	USD	26,656,750		03/17/21		166,899
	KRW	7,983,680,226	USD	7,131,802		01/08/21		206,618
	KRW	4,529,263,960	USD	3,987,239		01/15/21		175,982
	KRW	4,529,263,960	USD	4,062,630		02/19/21		100,277
	MXN	32,941,637	USD	1,616,901		03/17/21		24,045
	NOK	2,319,825	EUR	219,946		03/17/21		1,311
	NOK	48,301,300	USD	5,490,869		03/17/21		140,856
	NZD	5,835,004	USD	4,109,214		03/17/21		90,429
	PHP	32,549,600	USD	674,981		01/15/21		2,185
	PHP	62,912,596	USD	1,306,974		02/08/21		509
	RUB	19,724,509	USD	256,547		01/25/21		9,239
	RUB	117,710,789	USD	1,522,422		02/08/21		61,167
	SEK	23,022,380	EUR	2,276,304		03/17/21		14,812
	SEK	5,599,958	USD	677,215		03/17/21		3,992
	SGD	1,840,770	USD	1,378,344		03/17/21		14,608
	THB	130,855,670	USD	4,343,406		03/17/21		24,820
	TRY	4,818,205	USD	572,622		01/11/21		73,373
	TRY	5,451,953	USD	682,789		01/19/21		45,987
	TRY	3,971,018	USD	498,692		01/25/21		30,937
	TRY	22,255,814	USD	2,740,504		03/17/21		164,067
	TWD	36,462,579	USD	1,288,751		01/04/21		9,483
	TWD	82,429,958	USD	2,932,034		02/05/21		18,180
	TWD	18,179,253	USD	643,240		02/17/21		8,787
	TWD	18,775,411	USD	675,083		03/05/21		528
	USD	674,881	CNH	4,411,155		03/17/21		29
	USD	1,442,539	COP	4,909,349,665		01/29/21		5,088
	USD	643,197	JPY	66,306,531		03/17/21		456
	USD	679,094	KRW	736,477,410		01/08/21		2,140
	USD	119,498	KRW	129,902,658		02/19/21		103
	USD	539,045	MXN	10,764,708		03/17/21		2,815
	USD	1,075,776	THB	32,061,190		03/17/21		5,509
	USD	2,372,902	TWD	66,118,570		02/05/21		6,482
	USD	265,680	ZAR	3,923,133		03/17/21		1,334
	ZAR	18,186,222	USD	1,211,537		03/17/21		13,875

TOTAL							$	2,359,535

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS WITH UNREALIZED LOSS


Counterparty	Currency Purchased		Currency Sold		Settlement Date		Unrealized Loss

MS & Co. Int. PLC	EUR	535,201	GBP	480,514		03/17/21	$	(2,441	)
	EUR	2,763,535	NOK	29,551,181		03/17/21		(63,520	)
	EUR	536,390	NZD	923,626		03/17/21		(8,328	)
	EUR	5,967,440	USD	7,321,452		03/17/21		(18,482	)
	HUF	251,912,463	EUR	706,909		03/17/21		(16,598	)
	MXN	24,897,525	USD	1,243,654		03/17/21		(3,414	)
	PLN	2,503,722	EUR	558,709		03/17/21		(13,301	)
	PLN	4,107,012	USD	1,115,888		03/17/21		(16,110	)
	TWD	68,956,514	USD	2,473,083		02/05/21		(5,091	)
	TWD	18,311,262	USD	657,260		02/17/21		(498	)
	USD	15,327,383	AUD	20,469,418		03/17/21		(463,558	)
	USD	1,050,328	BRL	5,510,572		01/05/21		(10,711	)
	USD	21,785,567	CAD	27,872,231		03/17/21		(115,733	)
	USD	1,972,012	CNH	12,910,817		03/17/21		(3,183	)
	USD	2,098,555	COP	7,325,084,121		01/29/21		(46,221	)
	USD	8,113,050	EUR	6,694,074		03/17/21		(79,177	)
	USD	3,195,865	GBP	2,365,696		03/17/21		(40,790	)
	USD	3,285,466	IDR	46,476,523,070		01/06/21		(48,814	)
	USD	2,275,722	ILS	7,396,439		03/17/21		(29,140	)
	USD	7,814,375	INR	579,354,754		01/27/21		(96,434	)
	USD	67,790,848	JPY	7,040,562,624		03/15/21		(454,836	)
	USD	2,008,157	JPY	208,027,711		03/17/21		(8,356	)
	USD	8,024,028	KRW	9,005,170,936		01/08/21		(253,322	)
	USD	4,062,885	KRW	4,529,263,960		01/15/21		(100,336	)
	USD	951,337	MXN	19,353,079		03/17/21		(12,713	)
	USD	15,824,877	NOK	137,943,795		03/17/21		(258,781	)
	USD	16,472,139	NZD	23,250,721		03/17/21		(262,164	)
	USD	654,003	RUB	49,608,513		01/25/21		(14,468	)
	USD	1,321,276	RUB	100,182,293		02/08/21		(26,499	)
	USD	23,028,759	SEK	193,680,114		03/17/21		(531,465	)
	USD	2,158,250	SGD	2,869,863		03/17/21		(13,439	)
	USD	2,060,079	THB	62,113,175		03/17/21		(13,385	)
	USD	630,339	TRY	5,207,175		01/11/21		(67,807	)
	USD	1,312,677	TRY	10,514,877		01/19/21		(92,875	)
	USD	739,053	TRY	5,969,713		01/25/21		(57,149	)
	USD	1,294,258	TWD	36,462,579		01/04/21		(3,976	)
	USD	631,234	TWD	17,825,411		02/05/21		(6,748	)
	USD	1,038,534	ZAR	15,527,612		03/17/21		(7,736	)
	ZAR	3,873,130	USD	261,294		03/17/21		(318	)

TOTAL							$	(3,267,917	)

FUTURES CONTRACTS — At December 31, 2020, the Fund had the following futures contracts:


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

Long position contracts:
Ultra 10 Year U.S. Treasury Notes	143	03/22/21	$	22,359,391		$	47,350
2 Year U.S. Treasury Notes	1,160	03/31/21		256,332,812			194,844
5 Year U.S. Treasury Notes	603	03/31/21		76,076,930			97,712
10 Year U.S. Treasury Notes	1,217	03/22/21		168,041,078			208,761
20 Year U.S. Treasury Bonds	261	03/22/21		45,201,937			(291,805	)

Total						$	256,862

Short position contracts:
Australian 10 Year Government Bonds	(21)	03/15/21		(2,383,647	)		744
Ultra Long U.S. Treasury Bonds	(26)	03/22/21	$	(5,552,625	)		(12,335	)

Total						$	(11,591	)

TOTAL FUTURES CONTRACTS						$	245,271

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

SWAP CONTRACTS — At December 31, 2020, 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)

6M CHFOR^(a)	(0.250)^(a)		03/17/31	CHF		3,830	^(b)	$	8,675		$	14,574		$	(5,899	)
6M CHFOR^(a)	(0.500)^(c)		03/17/28			18,210	^(b)		(110,649	)		(75,478	)		(35,171	)
3M STIBOR^(d)	0.000^(c)		03/17/26	SEK		239,010	^(b)		(220,035	)		(141,593	)		(78,442	)
6M EURO(a)	0.050^(c)		05/21/30	EUR		39,800	^(b)		473,434			300,863			172,571
3M LIBOR^(d)	0.500^(a)		03/17/26	$		860	^(b)		1,706			586			1,120
6M AUDOR^(a)	0.500^(a)		11/25/25	AUD		49,700	^(b)		(59,516	)		(38,085	)		(21,431	)
6M AUDOR^(a)	0.553^(a)		05/16/25			8,740	^(b)		27,343			(539,208	)		566,551
6M CDOR^(a)	0.700^(a)		11/18/23	CAD		50,680	^(b)		44,975			871			44,104
3M NIBOR^(a)	0.750^(c)		03/17/26	NOK		188,980	^(b)		(251,710	)		(141,700	)		(110,010	)
6M CDOR^(a)	0.750^(a)		03/17/24	CAD		30,310	^(b)		84,832			37,626			47,206
6M CDOR^(a)	0.810^(a)		09/30/24			37,610	^(b)		(19,519	)		3,380			(22,899	)
6M CDOR^(a)	0.812^(a)		11/17/24			62,020	^(b)		72,778			(20,925	)		93,703
6M AUDOR^(a)	0.920^(a)		09/04/28	AUD		66,860	^(b)		(324,578	)		(207,968	)		(116,610	)
6M CDOR^(a)	0.960^(a)		11/09/24	CAD		208,620	^(b)		292,910			64,348			228,562
3M NIBOR^(a)	1.000^(c)		03/18/31	NOK		53,330	^(b)		(183,874	)		(249,887	)		66,013
6M AUDOR^(a)	1.240^(a)		10/28/30	AUD		17,850	^(b)		(219,365	)		(207,879	)		(11,486	)
3M LIBOR^(d)	1.245^(a)		11/24/30	$		41,920	^(b)		(355,239	)		(81,179	)		(274,060	)
6M AUDOR^(a)	1.250^(a)		11/09/30	AUD		25,040	^(b)		(305,265	)		(334,553	)		29,288
6M CDOR^(a)	1.500^(a)		03/19/31	CAD		9,890	^(b)		(53,490	)		(102,079	)		48,589
3M LIBOR^(d)	1.750^(a)		06/18/30	$		10,620	^(b)		204,109			265,030			(60,921	)
3M LIBOR^(a)	1.750^(d)		06/19/40			5,940	^(b)		(5,548	)		25,282			(30,830	)
3M LIBOR^(d)	1.750^(a)		06/20/50			10,930	^(b)		98,517			142,046			(43,529	)
3M NZDOR^(d)	1.750^(a)		03/19/30	NZD		3,990	^(b)		57,382			63,190			(5,808	)
6M AUDOR^(a)	1.750^(a)		03/19/30	AUD		7,170	^(b)		81,340			69,866			11,474
0.000^(d)	3M LIBOR^(d)		07/25/24	$		28,720			(9,641	)		9,643			(19,284	)
0.000^(d)	3M LIBOR^(d)		11/10/24			17,040			(14,755	)		16			(14,771	)
0.250^(a)	3M LIBOR^(d)		03/17/24			34,360	^(b)		8,360			34,440			(26,080	)
0.400^(a)	3M LIBOR^(d)		11/17/24			50,130	^(b)		(75,962	)		18,113			(94,075	)
1.190^(a)	3M LIBOR^(d)		11/10/30			17,810	^(b)		193,304			130,323			62,981
1.543^(a)	3M LIBOR^(d)		11/25/35			46,420	^(b)		466,447			60,738			405,709
1.240^(c)	3M NIBOR^(a)		10/29/30	NOK		151,180	^(b)		312,372			(249,698	)		562,070
0.750^(c)	3M STIBOR^(d)		06/18/30	SEK		20,920	^(b)		(20,283	)		(31,908	)		11,625
1.430^(a)	6M CDOR^(a)		11/09/30	CAD		42,450	^(b)		(176,943	)		(34,760	)		(142,183	)
(0.100)^(c)	6M CHFOR^(a)		09/17/30	CHF		3,820	^(b)		13,077			(74	)		13,151
(0.250)^(c)	6M EURO^(a)		03/17/26	EUR		12,200	^(b)		(154,410	)		(172,875	)		18,465
(0.500)^(c)	6M EURO^(c)		05/18/25			6,850	^(b)		(22,196	)		(18,943	)		(3,253	)
(0.500)^(c)	6M EURO^(c)		03/17/26			39,820	^(b)		(185,618	)		(272,645	)		87,027
(0.500)^(c)	6M EURO^(c)		03/17/28			16,570	^(b)		(18,780	)		(65,158	)		46,378
0.000^(a)	6M EURO^(a)		03/17/31			3,300	^(b)		(105,155	)		(118,167	)		13,012
0.000^(c)	6M EURO^(a)		03/17/51			4,500	^(b)		(46,061	)		(38,986	)		(7,075	)
0.250^(c)	6M EURO^(a)		06/18/30			28,790	^(b)		(694,264	)		(1,900,619	)		1,206,355
0.260^(c)	6M EURO^(a)		05/21/40			19,330	^(b)		12,076			(43,443	)		55,519
0.500^(c)	6M EURO^(a)		06/20/50			5,730	^(b)		(408,995	)		(498,758	)		89,763
0.750^(c)	6M EURO^(a)		06/19/40			6,210	^(b)		(379,897	)		(606,753	)		226,856
1.000^(a)	6M GBP^(a)		06/18/30	GBP		3,730	^(b)		(111,196	)		(106,286	)		(4,910	)
0.144^(a)	6M JYOR^(a)		11/13/30	JPY		3,633,900	^(b)		(40,430	)		(145,231	)		104,801
0.250^(a)	6M JYOR^(a)		03/19/30			237,500	^(b)		(18,750	)		(16,124	)		(2,626	)
0.500^(a)	6M JYOR^(a)		03/19/41			137,280	^(b)		1,632			(1,519	)		3,151
0.500^(a)	6M JYOR^(a)		06/20/50			138,850	^(b)		19,554			(4,654	)		24,208

TOTAL								$	(2,117,301	)	$	(5,226,200	)	$	3,108,899

(a)

Payments made semi-annually.

(b)

Represents forward starting interest rate swaps whose effective dates of commencement of accruals and cash flows occur subsequent to December 31, 2020.

(c)

Payments made annually.

(d)

Payments made quarterly.

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

OVER THE COUNTER CREDIT DEFAULT SWAP CONTRACTS


Reference Obligation/ Index	Financing Rate Paid by the Fund ^(a)		Credit Spread at December 31, 2020 ^(b)		Counterparty		Termination Date		Notional Amount (000s)		Value			Upfront Premiums (Received) Paid			Unrealized Appreciation/ (Depreciation)

Protection Sold:
Markit CMBX Series 10		3.000%		5.517%		MS & Co. Int. PLC		11/17/59	$	5,700	$	(703,372	)	$	(959,111	)	$	255,739
Markit CMBX Series 11		3.000		4.368		MS & Co. Int. PLC		11/18/54		4,500		(352,902	)		(695,466	)		342,564
Markit CMBX Series 8		3.000		4.368		MS & Co. Int. PLC		11/18/54		6,350		(498,514	)		(1,390,945	)		892,431
Markit CMBX Series 8		3.000		7.961		MS & Co. Int. PLC		10/17/57		3,450		(552,052	)		(790,161	)		238,109

TOTAL											$	(2,106,840	)	$	(3,835,683	)	$	1,728,843

(a)

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.

(b)

Payments made monthly.

CENTRALLY CLEARED CREDIT DEFAULT SWAP CONTRACTS


Referenced Obligation/Index	Financing Rate Received/(Paid) by the Fund^(a)		Credit Spread at December 31, 2020^(b)		Termination Date		Notional Amount (000s)			Value			Upfront Premiums (Received) Paid			Unrealized Appreciation/ (Depreciation)

Protection Purchased:
iTraxx Europe Index Series 34		(1.000)%		0.480%		12/20/25		EUR	22,750	$	(731,916	)	$	(549,103	)	$	(182,813	)
Protection Sold:
AT&T, Inc., 2.450%, 06/30/20		1.000		0.550		06/20/24		$	3,425		54,472			5,530			48,942
AT&T, Inc., 3.800%, 02/15/27		1.000		0.751		12/20/25			10,000		124,829			106,675			18,154
CDX.NA.HY Index 34		5.000		2.758		06/20/25			14,499		1,365,320			602,515			762,805
CDX.NA.HY Index 35		5.000		2.938		12/20/25			15,800		1,493,509			592,437			901,072
CDX.NA.IG Index 28		1.000		0.437		06/20/22			21,975		190,261			222,871			(32,610	)
CDX.NA.IG Index 32		1.000		0.525		06/20/24			225		3,761			2,934			827
CDX.NA.IG Index 33		1.000		0.580		12/20/24			1,650		27,788			(6,403	)		34,191
CDX.NA.IG Index 34		1.000		0.418		06/20/23			37,100		544,271			391,513			152,758
CDX.NA.IG Index 34		1.000		0.629		06/20/25			105,600		1,755,722			1,497,393			258,329
General Electric Co. 2.700%, 10/09/22		1.000		0.687		06/20/24			2,025		22,578			(23,991	)		46,569
General Electric Co. 2.700%, 10/09/22		1.000		0.770		12/20/24			825		7,733			(10,416	)		18,149
iTraxx Europe Index Series 34		5.000		2.440		12/20/25		EUR	6,950		1,016,333			642,760			373,573
Republic of Indonesia, 5.875%, 03/13/20		1.000		0.449		06/20/24		$	120		2,335			(189	)		2,524

TOTAL										$	5,876,996		$	3,474,526		$	2,402,470

(a)

(b)

Payments made quarterly.

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

PURCHASED AND WRITTEN OPTIONS CONTRACTS — At December 31, 2020, the Fund had the following purchased and written options:

OVER-THE-COUNTERINTEREST RATE SWAPTIONS


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

Purchased option contracts
Calls
3M IRS	JPMorgan Securities, Inc.		0.783	%		02/16/2021		4,000,000		$	4,000,000		$	11,883		$	19,950		$	(8,067	)
3M IRS	MS & Co. Int. PLC		0.610			01/15/2021		3,840,000			3,840,000			175			20,928			(20,753	)
3M IRS	MS & Co. Int. PLC		0.825			02/12/2021		4,660,000			4,660,000			18,258			24,698			(6,440	)

Total purchased option contracts								12,500,000		$	12,500,000		$	30,316		$	65,576		$	(35,260	)

Written option contracts
Calls
3M IRS	BofA Securities LLC		0.293			02/16/2021		(4,880,000	)		(4,880,000	)		(16,230	)		(18,363	)		2,133
3M IRS	Citibank NA		0.261			02/12/2021		(5,680,000	)		(5,680,000	)		(27,944	)		(22,534	)		(5,410	)
3M IRS	Citibank NA		0.000			03/08/2021		(1,490,000	)		(1,490,000	)		(50,859	)		(49,799	)		(1,060	)
3M IRS	JPMorgan Securities, Inc.		0.020			03/10/2021		(2,470,000	)		(2,470,000	)		(75,593	)		(78,852	)		3,259
3M IRS	MS & Co. Int. PLC		0.390			01/15/2021		(4,680,000	)		(4,680,000	)		(231	)		(19,062	)		18,831
3M IRS	MS & Co. Int. PLC		0.021			03/02/2021		(2,360,000	)		(2,360,000	)		(88,660	)		(78,124	)		(10,536	)
3M IRS	MS & Co. Int. PLC		0.000			03/08/2021		(990,000	)		(990,000	)		(33,792	)		(32,961	)		(831	)
4M IRS	MS & Co. Int. PLC		0.250			01/14/2021		(6,420,000	)		(6,420,000	)		(19,807	)		(58,035	)		38,228

								(28,970,000	)	$	(28,970,000	)	$	(313,116	)	$	(357,730	)	$	44,614

Puts
4M IRS	MS & Co. Int. PLC		0.000			01/14/2021		(6,420,000	)		(6,420,000	)		(164	)		(20,153	)		19,989

Total written option contracts								(35,390,000	)	$	(35,390,000	)	$	(313,280	)	$	(377,883	)	$	64,603

TOTAL								(22,890,000	)	$	(22,890,000	)	$	(282,964	)	$	(312,307	)	$	29,343

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)



Abbreviations:
1Y IRS		— 1 Year Interest Rate Swaptions
3M IRS		— 3 Months Interest Rate Swaptions
4M IRS		— 4 Months Interest Rate Swaptions
6M IRS		— 6 Months Interest Rate Swaptions
CDX.NA.IG Index 34		— CDX North America High Yield Index 34
CDX.NA.IG Index 35		— CDX North America High Yield Index 35
CDX.NA.IG Index 28		— CDX North America Investment Grade Index 28
CDX.NA.IG Index 32		— CDX North America Investment Grade Index 32
CDX.NA.IG Index 33		— CDX North America Investment Grade Index 33
CDX.NA.IG Index 34		— CDX North America Investment Grade Index 34
MS & Co. Int. PLC		— Morgan Stanley & Co. International PLC

GOLDMAN SACHS SHORT-TERM CONSERVATIVE INCOME FUND

Schedule of Investments

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – 40.1%
Automotive – 3.2%
BMW US Capital LLC^(a)
$	10,595,000		2.000	%^(b)	04/11/21	$ 10,629,010
	11,420,000		2.950		04/14/22	11,795,490
Daimler Finance North America LLC^(a)
	5,000,000		3.350		05/04/21	5,048,550
(3M USD LIBOR + 0.900%)
	35,000,000		1.121	^(c)	02/15/22	35,227,150
	10,000,000		3.400		02/22/22	10,327,200
	5,103,000		2.550		08/15/22	5,272,369
Toyota Motor Credit Corp.^(c)
(3M USD LIBOR + 0.150%)
	24,891,000		0.371		02/14/22	24,906,183
(SOFR + 0.300%)
	32,650,000		0.390		06/13/22	32,645,755
Volkswagen Group of America Finance LLC^(a)
	15,000,000		2.500		09/24/21	15,221,850
	13,838,000		2.700		09/26/22	14,349,591
	23,407,000		0.750		11/23/22	23,483,775

						188,906,923

Banks – 24.2%
ABN AMRO Bank NV^(a)
	7,307,000		2.650		01/19/21	7,313,869
(3M USD LIBOR + 0.570%)
	38,650,000		0.803	^(c)	08/27/21	38,776,772
Bank of America Corp.^(b)(c)
(3M USD LIBOR + 0.380%)
	10,935,000		0.589		01/23/22	10,936,968
(3M USD LIBOR + 0.630%)
	27,125,000		3.499		05/17/22	27,441,006
Bank of China Ltd/Singapore^(c) (3M USD LIBOR + 0.750%)
	9,250,000		0.968		04/17/21	9,251,203
Bank of Montreal^(c)(SOFR + 0.680%)
	52,000,000		0.768		03/10/23	52,403,000
Barclays Bank PLC^(b)
	6,500,000		1.700		05/12/22	6,609,525
BNP Paribas SA
	6,000,000		5.000		01/15/21	6,007,920
(3M USD LIBOR + 0.390%)
	7,660,000		0.603	^(a)(c)	08/07/21	7,674,554
BNZ International Funding Ltd.^(a)(c) (3M USD LIBOR + 0.980%)
	13,145,000		1.200		09/14/21	13,223,870
BPCE SA^(a)(c)
(3M USD LIBOR + 0.300%-)
	26,230,000		0.529		01/14/22	26,256,492


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Banks – (continued)
(SOFR + 0.440%)
$	31,430,000		0.524	%	02/17/22	$ 31,481,859
Canadian Imperial Bank of Commerce^(c) (SOFR + 0.800%)
	38,955,000		0.889		03/17/23	39,321,567
Capital One NA^(b)(c) (3M USD LIBOR + 1.150%)
	14,357,000		1.364		01/30/23	14,461,519
Citibank NA^(b)(c)
(3M USD LIBOR + 0.600%)
	30,000,000		0.824		05/20/22	30,056,400
(3M USD LIBOR + 0.596%)
	10,100,000		2.844		05/20/22	10,196,354
Citigroup, Inc.
(3M USD LIBOR + 1.190%)
	6,588,000		1.404	^(c)	08/02/21	6,629,504
	4,825,000		4.500		01/14/22	5,030,931
	33,290,000		2.312	^(b)(c)	11/04/22	33,808,325
Citizens Bank NA^(b)(c) (3M USD LIBOR + 0.720%)
	16,000,000		0.941		02/14/22	16,085,280
Cooperatieve Rabobank UA
	16,805,000		2.750		01/10/22	17,224,117
	9,251,000		3.875		02/08/22	9,616,137
Credit Suisse AG^(c)(SOFR + 0.450%)
	50,900,000		0.536		02/04/22	50,983,476
Fifth Third Bank NA^(c) (3M USD LIBOR + 0.640%)
	20,000,000		0.854		02/01/22	20,114,200
HSBC Holdings PLC^(c) (3M USD LIBOR + 1.660%)
	9,268,000		1.867		05/25/21	9,322,681
ING Bank NV^(a)
	11,520,000		2.750		03/22/21	11,582,554
ING Groep NV^(c) (3M USD LIBOR + 1.150%)
	12,960,000		1.401		03/29/22	13,096,469
JPMorgan Chase & Co.
	7,061,000		4.350		08/15/21	7,238,514
	9,428,000		4.500		01/24/22	9,850,563
KeyBank NA
	5,000,000		3.300		02/01/22	5,160,250
Lloyds Bank PLC^(c) (3M USD LIBOR + 0.490%)
	8,351,000		0.703		05/07/21	8,363,109
Macquarie Bank Ltd.^(a)
	15,370,000		2.850		01/15/21	15,380,913
Mitsubishi UFJ Financial Group, Inc.
	7,650,000		2.950		03/01/21	7,681,442
(3M USD LIBOR + 0.700%)
	12,500,000		0.925	^(c)	03/07/22	12,559,875

GOLDMAN SACHS SHORT-TERM CONSERVATIVE INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Banks – (continued)
$	6,630,000		3.218	%	03/07/22	$ 6,851,243
	6,067,000		2.623		07/18/22	6,277,889
Mizuho Financial Group, Inc.
	20,190,000		2.632	^(a)	04/12/21	20,317,197
(3M USD LIBOR + 1.140%)
	10,446,000		1.360	^(c)	09/13/21	10,521,002
(3M USD LIBOR + 0.940%)
	27,975,000		1.164	^(c)	02/28/22	28,223,138
(3M USD LIBOR + 0.790%)
	6,860,000		1.015	^(c)	03/05/23	6,909,735
Morgan Stanley, Inc.
	6,256,000		5.750		01/25/21	6,274,893
	11,800,000		5.500		07/28/21	12,143,616
(SOFR + 0.830%)
	11,195,000		0.919	^(b)(c)	06/10/22	11,228,585
(SOFR + 0.700%)
	60,000,000		0.785	^(b)(c)	01/20/23	60,189,000
MUFG Union Bank NA^(b)
	12,590,000		3.150		04/01/22	12,999,427
(SOFR + 0.710%)
	17,250,000		0.798	^(c)	12/09/22	17,350,740
National Australia Bank Ltd.^(a)(c) (3M USD LIBOR + 0.710%)
	12,000,000		0.930		11/04/21	12,068,760
National Australia Bank Ltd.^(a)(c) (3M USD LIBOR + 0.350%)
	4,950,000		0.574		01/12/21	4,950,396
NatWest Markets PLC^(a)
	42,450,000		3.625		09/29/22	44,764,374
Nordea Bank Abp^(a)
	9,300,000		4.875		01/14/21	9,310,788
PNC Bank NA^(b)(c) (3M USD LIBOR + 0.325%)
	33,500,000		0.530		02/24/23	33,550,585
Royal Bank of Canada^(c)
(3M USD LIBOR + 0.400%)
	11,052,000		0.615		01/25/21	11,054,763
(SOFR + 0.450%)
	20,600,000		0.535		10/26/23	20,671,482
Santander UK PLC
(3M USD LIBOR + 0.620%)
	13,350,000		0.845	^(c)	06/01/21	13,377,634
	31,650,000		3.400		06/01/21	32,042,460
(3M USD LIBOR + 0.660%)
	21,800,000		0.881	^(c)	11/15/21	21,899,626
Skandinaviska Enskilda Banken AB^(a)
	12,000,000		3.250		05/17/21	12,131,640
	5,100,000		3.050		03/25/22	5,271,309
(3M USD LIBOR + 0.320%)
	25,000,000		0.545	^(c)	09/01/23	25,009,250


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Banks – (continued)
Societe Generale SA^(a)
	$4,900,000		2.500	%	04/08/21	$ 4,928,273
Standard Chartered PLC^(a)
	5,000,000		3.050		01/15/21	5,003,550
(SOFR + 1.250%)
	46,000,000		1.335	^(b)(c)	10/14/23	46,317,400
Sumitomo Mitsui Financial Group, Inc.
	20,000,000		2.934		03/09/21	20,095,800
Svenska Handelsbanken AB^(c) (3M USD LIBOR + 1.150%)
	5,000,000		1.390		03/30/21	5,012,900
The Bank of Nova Scotia^(c)(SOFR + 0.550%)
	54,500,000		0.639		09/15/23	54,783,400
The Huntington National Bank^(b)(c) (3M USD LIBOR + 0.550%)
	15,000,000		0.775		02/05/21	15,006,300
The Toronto-Dominion Bank^(c)
(3M USD LIBOR + 0.300%)
	19,500,000		0.514		07/30/21	19,520,865
(SOFR + 0.450%)
	13,100,000		0.540		09/28/23	13,142,706
Truist Bank^(b)(c)(SOFR + 0.730%)
	16,760,000		0.818		03/09/23	16,890,225
Truist Financial Corp.^(b)
	25,000,000		2.900		03/03/21	25,051,500
(3M USD LIBOR + 0.650%)
	10,000,000		0.888	^(c)	04/01/22	10,059,900
UBS AG^(a)(b)
	17,500,000		1.750		04/21/22	17,812,725
UBS Group AG^(a)
	38,763,000		3.000		04/15/21	39,058,762
(3M USD LIBOR + 1.220%)
	19,325,000		1.433	^(b)(c)	05/23/23	19,563,277
US Bank NA^(b)(c) (3M USD LIBOR + 0.440%)
	6,500,000		0.653		05/23/22	6,528,795
Wells Fargo & Co.
	7,429,000		2.625		07/22/22	7,691,169
Wells Fargo Bank NA^(b)(c) (3M USD LIBOR + 0.650%)
	33,000,000		2.082		09/09/22	33,377,850
Westpac Banking Corp.^(c)
(3M USD LIBOR + 0.850%)
	18,690,000		1.074		01/11/22	18,833,539
(3M USD LIBOR + 0.390%)
	25,000,000		0.614		01/13/23	25,099,500

						1,440,309,186

GOLDMAN SACHS SHORT-TERM CONSERVATIVE INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Biotechnology^(b)(c) – 0.4%
Gilead Sciences, Inc. (3M USD LIBOR + 0.520%)
$	22,250,000		0.771	%	09/29/23	$ 22,293,833

						22,293,833

Building Materials^(c) – 0.2%
Vulcan Materials Co. (3M USD LIBOR + 0.650%)
	11,640,000		0.875		03/01/21	11,641,863

						11,641,863

Computers – 0.7%
Hewlett Packard Enterprise Co.
(3M USD LIBOR + 0.680%)
	14,940,000		0.900	^(c)	03/12/21	14,953,446
(3M USD LIBOR + 0.720%)
	19,233,000		0.958	^(b)(c)	10/05/21	19,236,077
	6,473,000		4.400	^(b)	10/15/22	6,875,686

						41,065,209

Diversified Financial Services – 2.8%
AIG Global Funding^(a)(c) (SOFR + 0.380%)
	29,248,000		0.469		12/15/23	29,246,830
Air Lease Corp.
	7,900,000		3.875	^(b)	04/01/21	7,939,342
	22,940,000		3.375		06/01/21	23,189,587
American Express Co.^(b)
	8,000,000		3.000		02/22/21	8,015,520
	15,607,000		3.375		05/17/21	15,743,873
	13,038,000		3.700		11/05/21	13,368,253
(3M USD LIBOR + 0.620%)
	20,000,000		0.844	^(c)	05/20/22	20,123,000
Capital One Financial Corp.^(b)(c) (3M USD LIBOR + 0.950%)
	15,000,000		1.180		03/09/22	15,115,200
ICBCIL Finance Co, Ltd.^(c) (3M USD LIBOR + 0.950%)
	6,000,000		1.171		05/15/21	5,990,340
Intercontinental Exchange, Inc.^(b)(c) (3M USD LIBOR + 0.650%)
	30,000,000		0.867		06/15/23	30,090,300

						168,822,245

Electrical^(b)(c) – 1.4%
American Electric Power Co., Inc. (3M USD LIBOR + 0.480%)
	19,375,000		0.680		11/01/23	19,415,106
Dominion Energy, Inc. (3M USD LIBOR + 0.530%)
	20,500,000		0.747		09/15/23	20,520,500


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Electrical^(b)(c) – (continued)
Duke Energy Progress LLC (3M USD LIBOR + 0.180%)
$	14,400,000		0.400	%	02/18/22	$ 14,396,112
Florida Power & Light Co. (3M USD LIBOR + 0.380%)
	14,075,000		0.602		07/28/23	14,078,097
NextEra Energy Capital Holdings, Inc. (3M USD LIBOR + 0.550%)
	14,323,000		0.774		08/28/21	14,325,578

						82,735,393

Electronics^(b) – 0.4%
Honeywell International, Inc.
	24,055,000		0.483		08/19/22	24,087,955

						24,087,955

Insurance – 2.8%
Jackson National Life Global Funding^(a)(c)
(3M USD LIBOR + 0.480%)
	25,000,000		0.701		06/11/21	25,043,750
(SOFR + 0.600%)
	50,000,000		0.686		01/06/23	50,192,000
Metropolitan Life Global Funding I^(a)(c)
(3M USD LIBOR + 0.230%)
	19,000,000		0.460		01/08/21	19,000,570
(SOFR + 0.570%)
	41,000,000		0.655		01/13/23	41,191,880
Protective Life Global Funding^(a)
	17,255,000		3.397		06/28/21	17,521,072
	4,194,000		1.999		09/14/21	4,243,825
Reinsurance Group of America, Inc.
	9,125,000		5.000		06/01/21	9,295,546

						166,488,643

Machinery - Construction & Mining – 0.4%
Caterpillar Financial Services Corp.
	13,030,000		2.750		08/20/21	13,233,919
	8,220,000		0.950		05/13/22	8,297,597

						21,531,516

Miscellaneous Manufacturing^(c) – 0.0%
General Electric Co. (3M USD LIBOR + 1.000%)
	2,635,000		1.217		03/15/23	2,653,498

Oil Field Services – 0.9%
BP Capital Markets PLC
	12,786,000		3.561		11/01/21	13,109,486
Chevron USA, Inc.
	9,585,000		0.333		08/12/22	9,604,745

GOLDMAN SACHS SHORT-TERM CONSERVATIVE INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Oil Field Services – (continued)
Phillips 66
(3M USD LIBOR + 0.600%)
$	6,807,000		0.833	%^(b)(c)	02/26/21	$ 6,808,361
	23,850,000		4.300		04/01/22	24,995,277

						54,517,869

Pharmaceuticals – 2.1%
AbbVie, Inc.
(3M USD LIBOR + 0.460%)
	21,142,000		0.691	^(c)	11/19/21	21,179,633
	11,892,000		3.450	^(b)	03/15/22	12,258,155
	28,869,000		2.900		11/06/22	30,212,563
Bayer US Finance II LLC^(a)(b)
	27,750,000		3.500		06/25/21	28,073,565
Bayer US Finance LLC^(a)
	25,413,000		3.000		10/08/21	25,900,929
Cigna Corp.^(b)(c) (3M USD LIBOR + 0.650%)
	8,000,000		0.879		09/17/21	8,001,440

						125,626,285

Pipelines^(c) – 0.6%
Enbridge, Inc. (3M USD LIBOR + 0.500%)
	3,095,000		0.720		02/18/22	3,102,273
MPLX LP^(b) (3M USD LIBOR + 1.100%)
	33,000,000		1.330		09/09/22	33,007,920

						36,110,193

TOTAL CORPORATE OBLIGATIONS (Cost $2,378,192,819)						$2,386,790,611



Municipal Debt Obligations – 0.4%
Connecticut^(b) – 0.0%
Connecticut State GO Taxable Series 2020
$	1,475,000		3.000	%	07/01/21	$ 1,494,736

New York – 0.2%
New York State Dormitory Authority Personal Income Tax Subordinate Anticipation Notes Series 2020
	12,440,000		5.000		03/31/21	12,586,294

Pennsylvania – 0.2%
Philadelphia School District Tax & Revenue Anticipation Notes Series 2020
	10,245,000		4.000		06/30/21	10,436,684

						10,436,684

TOTAL MUNICIPAL DEBT OBLIGATIONS (Cost $24,480,629)						$ 24,517,714


Principal Amount		Interest Rate			Maturity Date	Value

U.S. Treasury Obligations – 6.0%
United States Cash Management Bills^(d)
$	200,000		0.000	%	02/18/21	$ 199,983
	55,700,000		0.000		03/23/21	55,691,311
	2,800,000		0.000		03/30/21	2,799,524
	4,100,000		0.000		04/06/21	4,099,183
	4,500,000		0.000		04/13/21	4,498,973
	4,800,000		0.000		04/27/21	4,798,825
	17,300,000		0.000		05/11/21	17,294,934
	1,200,000		0.000		05/25/21	1,199,624
United States Treasury Bills^(d)
	100,000		0.000		01/05/21	100,000
	200,000		0.000		01/28/21	199,993
	100,000		0.000		02/02/21	99,995
	600,000		0.000		02/04/21	599,971
	100,000		0.000		03/02/21	99,989
	200,000		0.000		03/04/21	199,978
	61,500,000		0.000		04/01/21	61,489,061
	2,800,000		0.000		04/08/21	2,799,426
	31,700,000		0.000		04/15/21	31,693,223
	2,500,000		0.000		05/13/21	2,499,303
	600,000		0.000		05/20/21	599,816
	200,000		0.000		05/27/21	199,938
	200,000		0.000		06/03/21	199,931
	70,000,000		0.000		11/04/21	69,946,061
United States Treasury Inflation Indexed Note
	12,855,456		1.125		01/15/21	12,859,816
United States Treasury Notes
	6,200,000		2.625		07/15/21	6,283,070
	6,500,000		1.125		08/31/21	6,543,164
	1,700,000		1.500		08/31/21	1,715,273
	3,600,000		2.000		08/31/21	3,644,438
	60,000,000		0.125		11/30/22	60,004,688

TOTAL U.S. TREASURY OBLIGATIONS (Cost $352,270,729)						$ 352,359,491

GOLDMAN SACHS SHORT-TERM CONSERVATIVE INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


	Shares		Dividend Rate				Value

Investment Company^(e) – 18.8%
Goldman Sachs Financial Square Government Fund - Institutional Shares
		1,118,692,655		0.026%			$1,118,692,655
(Cost $1,118,692,655)

TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENT (Cost $3,873,636,832)							$3,882,360,471


Principal Amount			Interest Rate			Maturity Date	Value

Short-term Investments – 34.9%
Certificates of Deposit – 13.8%
Bank Of America NA
$		30,000,000		0.360	%	01/10/22	$ 30,001,281
Bank of Montreal^(c)
(FEDL01 + 0.210%)
		20,000,000		0.300		02/08/21	20,001,833
(3M USD LIBOR + 0.040%)
		12,900,000		0.274		10/01/21	12,897,123
Barclays Bank PLC^(c)
		30,000,000		0.666		08/03/21	30,017,366
Bayerische Landesbank^(c)
		13,000,000		0.686		02/03/22	13,016,873
Canadian Imperial Bank of Commerce^(c)
		13,500,000		0.392		08/06/21	13,509,617
Chariot Funding LLC^(d)
		50,000,000		0.000		03/08/21	49,978,132
CNPC Finance^(d)
		10,000,000		0.000		01/08/21	9,999,280
Collateralized Cp V Co.^(d)
		10,693,000		0.000		02/02/21	10,691,010
		10,000,000		0.000		02/12/21	9,997,456
		7,923,000		0.000		04/21/21	7,916,722
Columbia Funding Co.^(d)
		14,500,000		0.000		01/06/21	14,499,727
Consolidated Edison Co. of New York, Inc.^(d)
		36,630,000		0.000		02/26/21	36,615,153
Credit Agricole Corporate & Investment Bank^(c)
		30,000,000		0.710		09/10/21	30,077,141
Credit Suisse AG
		25,000,000		0.580		01/10/22	25,112,275


Principal Amount		Interest Rate			Maturity Date	Value

Short-term Investments – (continued)
Certificates of Deposit – (continued)
DNB Bank ASA^(c)
$	13,700,000		0.243	%	02/24/21	$ 13,702,859
DZ Bank AG Deutsche Zentral-Genossenschaftsbank^(c)
	50,000,000		0.422		02/17/22	49,916,368
Industrial & Commercial Bank of China Ltd.^(d)
	20,263,000		0.000		02/04/21	20,259,355
	15,000,000		0.000		02/09/21	14,996,667
	20,000,000		0.000		03/05/21	19,990,720
Intercontinental Exchange, Inc.^(d)
	14,600,000		0.000		06/24/21	14,566,478
Ionic Capital II Trust^(d)
	28,408,000		0.000		01/08/21	28,406,801
Sumitomo Mitsui Banking Corp.
	10,000,000		0.230		06/02/21	10,000,000
Suncor Energy, Inc.^(d)
	6,391,000		0.000		02/17/21	6,388,921
	20,200,000		0.000		03/15/21	20,188,831
Svenska Handelsbanken
	20,147,000		0.000	^(d)	12/08/21	20,093,409
(3M USD LIBOR + 0.260%)
	23,850,000		0.494	^(c)	01/06/22	23,888,185
Toronto-Dominion Bank^(d)
	20,000,000		0.000		02/16/21	19,994,856
	30,000,000		0.000		03/22/21	29,985,352
The Walt Disney Co.^(d)
	12,900,000		0.000		04/07/21	12,889,398
Versailles CDS LLC^(d)
	20,000,000		0.000		01/05/21	19,999,481
	32,000,000		0.000		03/18/21	31,983,505
Volkswagen Group of America Finance LLC^(d)
	24,830,000		0.000		11/10/21	24,695,941
Waste Management, Inc.^(d)
	13,500,000		0.000		07/06/21	13,478,051
	12,450,000		0.000		07/28/21	12,428,967
Well Fargo Repo
	98,000,000		0.180		01/04/21	98,000,000

						820,185,134

GOLDMAN SACHS SHORT-TERM CONSERVATIVE INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Short-term Investments – (continued)
Commercial Paper – 21.1%
Agricultural Bank China^(d)
$	20,000,000		0.000	%	01/04/21	$ 19,999,647
	50,291,000		0.000		02/23/21	50,268,973
Albion Capital Corp.^(d)
	25,000,000		0.000		01/27/21	24,996,888
	40,000,000		0.000		02/22/21	39,988,163
Antalis S.A^(d)
	20,500,000		0.000		02/01/21	20,496,319
Bank Of China, Ltd.^(d)
	25,400,000		0.000		05/12/21	25,351,943
	17,718,000		0.000		05/24/21	17,678,879
	15,666,000		0.000		06/02/21	15,627,849
Bayerische Landesbank^(c)
	39,675,000		0.692		01/28/22	39,611,926
BNZ International Funding Ltd^(d)
	50,000,000		0.000		02/18/21	49,990,949
China Construction Banking Corp.^(d)
	22,000,000		0.000		02/02/21	21,996,632
Collateralized Cp V Co.^(d)
	20,000,000		0.000		01/19/21	19,998,279
First Abu Dhabi Bank PJSC
	20,000,000		0.000	^(d)	08/27/21	19,967,469
First Abu Dhabi Bank USA N V IA
(3M USD LIBOR + 0.170%)
	26,000,000		0.390	^(c)	12/14/21	25,999,997
HSBC Bank PLC^(d)
	10,603,000		0.000		08/03/21	10,586,409
HSBC Bank USA NA
	27,000,000		0.370		12/03/21	27,008,038
Ionic Capital II Trust^(d)
	30,000,000		0.000		01/22/21	29,996,462
	32,658,000		0.000		02/26/21	32,644,762
	17,000,000		0.000		03/05/21	16,992,051
Landesbank Baden-Wuerttemberg
	10,000,000		0.000	^(d)	01/11/21	9,999,566
	39,800,000		0.000	^(d)	02/24/21	39,785,832
	30,200,000		0.270		04/16/21	30,200,439


Principal Amount		Interest Rate			Maturity Date	Value

Short-term Investments – (continued)
Commercial Paper – (continued)
Landesbank Hessen-Thuringen^(d)
$	15,000,000		0.000	%	02/04/21	$ 14,997,885
Lloyds Bank Corporate Markets PLC^(c)
(3M USD LIBOR + 0.100%)
	25,200,000		0.317		09/15/21	25,194,778
(SOFR + 0.650%)
	24,400,000		0.740		08/17/22	24,512,225
Macquarie Bank, Ltd.^(d)
	43,350,000		0.000		02/19/21	43,336,935
Matchpoint Finance PLC^(d)
	20,000,000		0.000		03/08/21	19,991,253
National Bank Of Canada^(d)
	23,000,000		0.000		02/17/21	22,995,339
National Bank Of Kuwait SAKP
	47,000,000		0.430		03/05/21	47,013,499
	35,000,000		0.400		06/14/21	35,002,391
Natixis SA^(c)
(3M USD LIBOR + 0.520%)
	25,000,000		0.736		01/22/21	25,006,607
(3M USD LIBOR + 0.130%)
	27,000,000		0.360		12/09/21	26,999,998
NatWest Markets PLC
	31,000,000		0.000		02/01/21	30,993,882
Nordea Bank ABP^(c)
	4,600,000		0.545		05/05/21	4,603,792
Norinchukin Bank NY
	10,000,000		0.240		03/02/21	10,001,304
	30,000,000		0.300		05/20/21	30,002,669
	23,000,000		0.300		05/27/21	23,001,963
	17,125,000		0.300		06/01/21	17,126,367
	19,000,000		0.370		12/03/21	18,999,804
Royal Bank of Canada^(d)
	10,000,000		0.000		11/30/21	9,978,383
Salisbury Receivables Co.^(d)
	30,000,000		0.000		03/08/21	29,982,413
Shell International Finance B.V.^(d)
			0.000		01/27/21	19,998,065
	25,000,000		0.000		06/14/21	24,975,365
Societe Generale SA^(d)
	40,000,000		0.000		06/28/21	39,949,520
	13,485,000		0.000		12/06/21	13,446,538
	15,500,000		0.000		12/13/21	15,446,510

GOLDMAN SACHS SHORT-TERM CONSERVATIVE INCOME FUND

Schedule of Investments (continued)

December 31, 2020 (Unaudited)


Principal Amount			Interest Rate			Maturity Date	Value

	Short-term Investments – (continued)
	Commercial Paper – (continued)
	Standard Chartered Bank^(c)
	$	10,000,000		0.343%		02/08/21	$ 10,001,987
	Sumitomo Mitsui Banking Corp.
	(3M USD LIBOR + 0.370%)
		25,250,000		0.595	^(c)	11/05/21	25,304,783
		24,550,000		0.700		07/08/22	24,575,300
	Sumitomo Mitsui Trust Bank Ltd.
		15,000,000		0.000	^(d)	02/10/21	14,997,472
		8,100,000		0.230		05/06/21	8,100,000
	The Walt Disney Co.^(d)
		10,000,000		0.000		04/12/21	9,991,273

							1,255,715,772

	TOTAL SHORT-TERM INVESTMENTS (Cost $2,075,177,995)						$2,075,900,906

	TOTAL INVESTMENTS – 100.2% (Cost $5,948,814,827)						$5,958,261,377

	LIABILITIES IN EXCESS OF OTHER ASSETS – (0.2)%						(9,472,883)

	NET ASSETS – 100.0%						$5,948,788,494



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

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

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

(c)		Variable rate security. Except for floating rate notes (for which final maturity is disclosed), maturity date disclosed is the next interest reset date. Interest rate disclosed is that which is in effect on December 31, 2020.

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

(e)		Represents an affiliated issuer.



Currency Abbreviations:
USD		— U.S. Dollar

Investment Abbreviations:
BP		— British Pound Offered Rate
GO		— General Obligation
LIBOR		— London Interbank Offered Rate
LLC		— Limited Liability Company
LP		— Limited Partnership
PLC		— Public Limited Company
SOFR		— Secured Overnight Funding Rate

For information on the mutual funds, please call our toll free Shareholder Services Line at 1-800-526-7384 or visit us on the web at www.GSAMFUNDS.com.

GOLDMAN SACHS SHORT DURATION AND GOVERNMENT FIXED INCOME FUNDS

Schedule of Investments (continued)

December 31, 2020 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS

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

INVESTMENTS AND FAIR VALUE MEASUREMENTS

U.S. GAAP defines the fair value of a financial instrument as the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e., the exit price); the Funds’ policy is to use the market approach. GAAP establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The level in the fair value hierarchy within which the fair value measurement in its entirety falls shall be determined based on the lowest level input that is significant to the fair value measurement in its entirety. The levels used for classifying investments are not necessarily an indication of the risk associated with investing in these investments. The three levels of the fair value hierarchy are described below:

Level 1 — Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;

Level 2 — Quoted prices in markets that are not active or financial instruments for which significant inputs are observable (including, but not limited to, quoted prices for similar investments, interest rates, foreign exchange rates, volatility and credit spreads), either directly or indirectly;

Level 3 — Prices or valuations that require significant unobservable inputs (including GSAM’s assumptions in determining fair value measurement).

The Board of Trustees (“Trustees”) has approved Valuation Procedures that govern the valuation of the portfolio investments held by the Funds, including investments for which market quotations are not readily available. The Trustees have delegated to GSAM day-to-day responsibility for implementing and maintaining internal controls and procedures related to the valuation of the Funds’ portfolio investments. To assess the continuing appropriateness of pricing sources and methodologies, GSAM regularly performs price verification procedures and issues challenges as necessary to third party pricing vendors or brokers, and any differences are reviewed in accordance with the Valuation Procedures.

Level 1 and Level 2 Fair Value Investments — The valuation techniques and significant inputs used in determining the fair values for investments classified as Level 1 and Level 2 are as follows:

Underlying Funds (including Money Market Funds) — Underlying funds (“Underlying Funds”) include other investment companies and exchange-traded funds (“ETFs”). Investments in the Underlying Funds (except ETFs) are valued at the NAV per share on the day of valuation. ETFs are valued daily at the last sale price or official closing price on the principal exchange or system on which the investment is traded. Because the Funds invest in Underlying Funds that fluctuate in value, the Funds’ shares will correspondingly fluctuate in value. To the extent these investments are actively traded, they are classified as Level 1 of the fair value hierarchy, otherwise they are generally classified as Level 2. For information regarding an Underlying Fund’s accounting policies and investment holdings, please see the Underlying Fund’s shareholder report.

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

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

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

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

GOLDMAN SACHS SHORT DURATION AND GOVERNMENT FIXED INCOME FUNDS

Schedule of Investments (continued)

December 31, 2020 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

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

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

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

v. Treasury Inflation Protected Securities — TIPS are treasury securities in which the principal amount is adjusted daily to keep pace with inflation, as measured by the U.S. Consumer Pricing Index for Urban Consumers. The repayment of the original bond principal upon maturity is guaranteed by the full faith and credit of the U.S. Government.

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

vii. Repurchase Agreements — Repurchase agreements involve the purchase of securities subject to the seller’s agreement to repurchase the securities at a mutually agreed upon date and price, under the terms of a Master Repurchase Agreement (“MRA”). During the term of a repurchase agreement, the value of the underlying securities held as collateral on behalf of a Fund, including accrued interest, is required to exceed the value of the repurchase agreement, including accrued interest. The gross value of repurchase agreements is included in the Statements of Assets and Liabilities for financial reporting purposes. The underlying securities for all repurchase agreements are held at the Funds’ custodian or designated sub-custodians under tri-party repurchase agreements.

An MRA governs transactions between a Fund and select counterparties. An MRA contains provisions for, among other things, initiation of the transaction, income payments, events of default and maintenance of securities for repurchase agreements. An MRA also permits offsetting with collateral to create one single net payment in the event of default or similar events, including the bankruptcy or insolvency of a counterparty.

If the seller defaults, a Fund could suffer a loss to the extent that the proceeds from the sale of the underlying securities and other collateral held by the Fund are less than the repurchase price and the Fund’s costs associated with delay and enforcement of the repurchase agreement. In addition, in the event of default or insolvency of the seller, a court could determine that a Fund’s interest in the collateral is not enforceable, resulting in additional losses to the Fund.

Pursuant to exemptive relief granted by the Securities and Exchange Commission (“SEC”) and terms and conditions contained therein, the Funds, together with other funds of the Trust and registered investment companies having management agreements with GSAM or its affiliates, may transfer uninvested cash into joint accounts, the daily aggregate balance of which is invested in one or more repurchase agreements. Under these joint accounts, the Funds maintain pro-rata credit exposure to the underlying repurchase agreements’ counterparties. With the exception of certain transaction fees, the Funds are not subject to any expenses in relation to these investments.

GOLDMAN SACHS SHORT DURATION AND GOVERNMENT FIXED INCOME FUNDS

Schedule of Investments (continued)

December 31, 2020 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

Derivative Contracts — A derivative is an instrument whose value is derived from underlying assets, indices, reference rates or a combination of these factors. A Fund enters into derivative transactions to hedge against changes in interest rates, securities prices, and/or currency exchange rates, to increase total return, or to gain access to certain markets or attain exposure to other underliers. For financial reporting purposes, cash collateral that has been pledged to cover obligations of a Fund and cash collateral received, if any, is reported separately on the Statements of Assets and Liabilities as receivables/payables for collateral on other investments. Non-cash collateral pledged by a Fund, if any, is noted in the Schedules of Investments.

Exchange-traded derivatives, including futures and options contracts, are generally valued at the last sale or settlement price on the exchange where they are principally traded. Exchange-traded options without settlement prices are generally valued at the midpoint of the bid and ask prices on the exchange where they are principally traded (or, in the absence of two-way trading, at the last bid price for long positions and the last ask price for short positions). Exchange-traded derivatives typically fall within Level 1 of the fair value hierarchy. Over-the-counter (“OTC”) and centrally cleared derivatives are valued using market transactions and other market evidence, including market-based inputs to models, calibration to market-clearing transactions, broker or dealer quotations, or other alternative pricing sources. Where models are used, the selection of a particular model to value OTC and centrally cleared derivatives depends upon the contractual terms of, and specific risks inherent in, the instrument, as well as the availability of pricing information in the market. Valuation models require a variety of inputs, including contractual terms, market prices, yield curves, credit curves, measures of volatility, voluntary and involuntary prepayment rates, loss severity rates and correlations of such inputs. For OTC and centrally cleared derivatives that trade in liquid markets, model inputs can generally be verified and model selection does not involve significant management judgment. OTC and centrally cleared derivatives are classified within Level 2 of the fair value hierarchy when significant inputs are corroborated by market evidence.

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

A forward foreign currency exchange contract is a forward contract in which a Fund agrees to receive or deliver a fixed quantity of one currency for another, at a pre-determined price at a future date. All forward foreign currency exchange contracts are marked-to-market daily at the applicable forward rate. Non-deliverable forward foreign currency exchange contracts are settled with the counterparty in cash without the delivery of foreign currency.

ii. Futures Contracts — Futures contracts are contracts to buy or sell a standardized quantity of a specified commodity or security . Upon entering into a futures contract, a Fund deposits cash or securities in an account on behalf of the broker in an amount sufficient to meet the initial margin requirement. Subsequent payments are made or received by a Fund equal to the daily change in the contract value and are recorded as variation margin receivable or payable with a corresponding offset to unrealized gains or losses.

iii. Options — When a Fund writes call or put options, an amount equal to the premium received is recorded as a liability and is subsequently marked-to-market to reflect the current value of the option written. Swaptions are options on swap contracts.

Upon the purchase of a call option or a put option by a Fund, the premium paid is recorded as an investment and subsequently marked-to-market to reflect the current value of the option. Certain options may be purchased with premiums to be determined on a future date. The premiums for these options are based upon implied volatility parameters at specified terms.

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

GOLDMAN SACHS SHORT DURATION AND GOVERNMENT FIXED INCOME FUNDS

Schedule of Investments (continued)

December 31, 2020 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

An interest rate swap is an agreement that obligates two parties to exchange a series of cash flows at specified intervals, based upon or calculated by reference to changes in interest rates on a specified notional principal amount. The payment flows are usually netted against each other, with the difference being paid by one party to the other. A credit default swap is an agreement that involves one party (the buyer of protection) making a stream of payments to another party (the seller of protection) in exchange for the right to receive protection on a reference security or obligation, including a group of assets or exposure to the performance of an index. A Fund’s investment in credit default swaps may involve greater risks than if the Fund had invested in the referenced obligation directly. Credit events are contract specific but may include bankruptcy, failure to pay, restructuring and obligation acceleration. If a Fund buys protection through a credit default swap and no credit event occurs, its payments are limited to the periodic payments previously made to the counterparty. Upon the occurrence of a specified credit event, a Fund, as a buyer of credit protection, is entitled to receive an amount equal to the notional amount of the swap and deliver to the seller the defaulted reference obligation in a physically settled trade. A Fund may also receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap reduced by the recovery value of the reference obligation in a cash settled trade.

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

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

Level 3 Fair Value Investments — To the extent that significant inputs to valuation models and other alternative pricing sources are unobservable, or if quotations are not readily available, or if GSAM believes that such quotations do not accurately reflect fair value, the fair value of a Fund’s investments may be determined under Valuation Procedures approved by the Trustees. GSAM, consistent with its procedures and applicable regulatory guidance, may make an adjustment to the most recent valuation prices of either domestic or foreign securities in light of significant events to reflect what it believes to be the fair value of the securities at the time of determining a Fund’s NAV. To the extent investments are valued using single source broker quotations obtained directly from the broker or passed through from third party pricing vendors, such investments are classified as Level 3 investments.

Fair Value Hierarchy — The following is a summary of the Funds’ investments and derivatives classified in the fair value hierarchy as of December 31, 2020:


ENHANCED INCOME

Investment Type	Level 1			Level 2		Level 3

Assets
Fixed Income
Corporate Obligations	$	—		$	394,270,700	$	—
U.S. Treasury Obligations and/or Other U.S. Government Agencies		19,308,467			8,957,583		—
Asset-Backed Securities		—			66,439,675		—
Exchange Traded Fund		30,178,038			—		—
Investment Companies		7,296,017			—		—
Short-term Investments		—			211,333,186		—

Total	$	56,782,522		$	681,001,144	$	—

Derivative Type

Assets
Futures Contracts^(a)	$	10,936		$	—	$	—

Liabilities
Futures Contracts^(a)	$	(154,306	)	$	—	$	—

(a)

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

GOLDMAN SACHS SHORT DURATION AND GOVERNMENT FIXED INCOME FUNDS

Schedule of Investments (continued)

December 31, 2020 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)


GOVERNMENT INCOME

Investment Type	Level 1			Level 2			Level 3

Assets
Fixed Income
Mortgage-Backed Obligations	$	—		$	161,525,966		$	—
U.S. Treasury Obligations and/or Other U.S. Government Agencies		80,904,197			84,312,382			—
Asset-Backed Securities		—			11,482,681			—
Municipal Debt Obligations		—			3,865,420			—
Investment Company		79,933,781			—			—

Total	$	160,837,978		$	261,186,449		$	—

Liabilities
Fixed Income
Mortgage-Backed Obligations — Forward Sales Contracts	$	—		$	(5,337,187	)	$	—

Total	$	—		$	(5,337,187	)	$	—

Derivative Type

Assets
Futures Contracts^(a)	$	365,928		$	—		$	—
Interest Rate Swap Contracts^(a)		—			41,049			—
Options Purchased		—			60,073			—

Total	$	365,928		$	101,122		$	—

Liabilities
Futures Contracts^(a)	$	(28,658	)	$	—		$	—
Interest Rate Swap Contracts^(a)		—			(49,757	)		—
Written option contracts		—			(60,819	)		—

Total	$	(28,658	)	$	(110,576	)	$	—

HIGH QUALITY FLOATING RATE

Investment Type	Level 1			Level 2			Level 3

Assets
Fixed Income
Mortgage-Backed Obligations	$	—		$	68,502,583		$	—
Asset-Backed Securities		—			94,528,997			—
Municipal Debt Obligations		—			7,083,262			—
U.S. Treasury Obligations		29,997,379			—			—
Short-term Investments		—			9,500,000			—

Total	$	29,997,379		$	179,614,842		$	—

Derivative Type

Assets^(a)
Futures Contracts	$	14,624		$	—		$	—
Interest Rate Swap Contracts		—			27,746			—

Total	$	14,624		$	27,746		$	—

Liabilities^(a)
Futures Contracts	$	(19,073	)	$	—		$	—
Interest Rate Swap Contracts		—			(41,927	)		—

Total	$	(19,073	)	$	(41,927	)	$	—

INFLATION PROTECTED SECURITIES

Investment Type	Level 1			Level 2			Level 3

Assets
Fixed Income
U.S. Treasury Obligations	$	480,796,567		$	—		$	—
Investment Company		3,279,405			—			—

Total	$	484,075,972		$	—		$	—

Derivative Type

Assets
Futures Contracts^(a)	$	216,482		$	—		$	—
Interest Rate Swap Contracts^(a)		—			214,818			—
Options Purchased		—			40,739			—

Total	$	216,482		$	255,557		$	—

Liabilities
Futures Contracts^(a)	$	(12,709	)	$	—		$	—
Interest Rate Swap Contracts^(a)		—			(633,535	)		—
Written option contracts		—			(41,380	)		—

Total	$	(12,709	)	$	(674,915	)	$	—

(a)

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

GOLDMAN SACHS SHORT DURATION AND GOVERNMENT FIXED INCOME FUNDS

Schedule of Investments (continued)

December 31, 2020 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)


SHORT DURATION GOVERNMENT

Investment Type	Level 1			Level 2			Level 3

Assets
Fixed Income
Mortgage-Backed Obligations	$	—		$	468,826,388		$	—
U.S. Treasury Obligations and/or Other U.S. Government Agencies		413,224,805			198,159,239			—
Investment Company		219,944,125			—			—

Total	$	633,168,930		$	666,985,627		$	—

Liabilities
Fixed Income
Mortgage-Backed Obligations — Forward Sales Contracts	$	—		$	(8,852,500	)	$	—

Total	$	—		$	(8,852,500	)	$	—

Derivative Type

Assets^(a)
Futures Contracts	$	1,329,008		$	—		$	—
Interest Rate Swap Contracts		—			56,280			—

Total	$	1,329,008		$	56,280		$	—

Liabilities^(a)
Futures Contracts	$	(431,431	)	$	—		$	—
Interest Rate Swap Contracts		—			(64,356	)		—

Total	$	(431,431	)	$	(64,356	)	$	—

SHORT DURATION INCOME

Investment Type	Level 1			Level 2			Level 3

Assets
Fixed Income
Corporate Obligations	$	—		$	1,554,792,636		$	—
Mortgage-Backed Obligations		—			409,605,107			—
Asset-Backed Securities		—			163,312,253			—
Foreign Debt Obligations		68,184,667			30,765,009			—
Municipal Debt Obligations		—			5,667,655			—
U.S. Treasury Obligations		1,697,378			—			—
Exchange Traded Funds		56,805,771			—			—
Investment Company		123,619,723			—			—
Short-term Investments		—			14,169,119			—

Total	$	250,307,539		$	2,178,311,779		$	—

Derivative Type

Assets
Forward Foreign Currency Exchange Contracts^(a)	$	—		$	2,359,535		$	—
Futures Contracts^(a)		549,411			—			—
Interest Rate Swap Contracts^(a)		—			4,240,252			—
Credit Default Swap Contracts^(a)		—			4,346,736			—
Options Purchased		—			30,316			—

Total	$	549,411		$	10,976,839		$	—

Liabilities
Forward Foreign Currency Exchange Contracts^(a)	$	—		$	(3,267,917	)	$	—
Futures Contracts^(a)		(304,140	)		—			—
Interest Rate Swap Contracts^(a)		—			(1,131,353	)		—
Credit Default Swap Contracts^(a)		—			(215,423	)		—
Written option contracts		—			(313,280	)		—

Total	$	(304,140	)	$	(4,927,973	)	$	—

(a)

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

GOLDMAN SACHS SHORT DURATION AND GOVERNMENT FIXED INCOME FUNDS

Schedule of Investments (continued)

December 31, 2020 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)


SHORT-TERM CONSERVATIVE INCOME

Investment Type	Level 1		Level 2		Level 3

Assets
Fixed Income
Corporate Obligations	$	—	$	2,386,790,611	$	—
Municipal Debt Obligations		—		24,517,714		—
U.S. Treasury Obligations		352,359,491		—		—
Investment Company		1,118,692,655		—		—
Short-term Investments		—		2,075,900,906		—

Total	$	1,471,052,146	$	4,487,209,231	$	—

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

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

Derivatives Risk — The Funds’ use of derivatives may result in loss. Derivative instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of the underlying instruments may produce disproportionate losses to the Funds. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. Losses from derivatives can also result from a lack of correlation between changes in the value of derivative instruments and the portfolio assets (if any) being hedged.

Floating and Variable Rate Obligations Risk — Floating rate and variable rate obligations are debt instruments issued by companies or other entities with interest rates that reset periodically (typically, daily, monthly, quarterly, or semiannually) in response to changes in the market rate of interest on which the interest rate is based. For floating and variable rate obligations, there may be a lag between an actual change in the underlying interest rate benchmark and the reset time for an interest payment of such an obligation, which could harm or benefit the Fund, depending on the interest rate environment or other circumstances. In a rising interest rate environment, for example, a floating or variable rate obligation that does not reset immediately would prevent the Fund from taking full advantage of rising interest rates in a timely manner. However, in a declining interest rate environment, the Fund may benefit from a lag due to an obligation’s interest rate payment not being immediately impacted by a decline in interest rates. In 2017, the United Kingdom’s Financial Conduct Authority (“FCA”) warned that LIBOR may cease to be available or appropriate for use by 2021. The unavailability or replacement of LIBOR may affect the value, liquidity or return on certain Fund investments and may result in costs incurred in connection with closing out positions and entering into new trades. Any pricing adjustments to the Fund’s investments resulting from a substitute reference rate may also adversely affect the Fund’s performance and/or NAV.

Foreign and Emerging Countries Risk — Investing in foreign markets may involve special risks and considerations not typically associated with investing in the United States. Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which a Fund invests. The imposition of exchange controls (including repatriation restrictions), confiscation of assets and property, trade restrictions (including tariffs) and other government restrictions by the United States or other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which a Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. To the extent that a Fund also invests in securities of issuers located in emerging markets, these risks may be more pronounced.

Interest Rate Risk — When interest rates increase, fixed income securities or instruments held by a Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with changing interest rates may have unpredictable effects on the markets and a Fund’s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Funds.

GOLDMAN SACHS SHORT DURATION AND GOVERNMENT FIXED INCOME FUNDS

Schedule of Investments (continued)

December 31, 2020 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

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

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

Market and Credit Risks — In the normal course of business, a Fund trades financial instruments and enters into financial transactions where risk of potential loss exists due to changes in the market (market risk). The value of the securities in which a Fund invests may go up or down in response to the prospects of individual companies, particular sectors or governments and/or general economic conditions throughout the world due to increasingly interconnected global economies and financial markets. Events such as war, acts of terrorism, social unrest, natural disasters, the spread of infectious illness or other public health threats could also significantly impact a Fund and its investments. Additionally, a Fund may also be exposed to credit risk in the event that an issuer or guarantor fails to perform or that an institution or entity with which the Fund has unsettled or open transactions defaults.

State/Territory Specific Risk — A Fund’s investments in municipal obligations of issuers located in a particular state or U.S. territory may be adversely affected by political, economic and regulatory developments within that state or U.S. territory. Such developments may affect the financial condition of a state’s or territory’s political subdivisions, agencies, instrumentalities and public authorities and heighten the risks associated with investing in bonds issued by such parties, which could, in turn, adversely affect a Fund’s income, NAV, liquidity, and/or ability to preserve or realize capital appreciation.

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