Form NPORT-P GOLDMAN SACHS TRUST For: Jun 30

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August 25, 2020 3:04 PM EDT

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      GOLDMAN SACHS TRUST
      811-05349
      0000822977
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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
      2020-06-30
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      1202178245.49
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      0.00000000
      13310941.03000000
      
        
          USD
          
          
        
      
      
      
      N
      
        
          
          
          
          
          
          
          
        
        
          
            
            
            
            
              
              
              
            
            
              
              
              
            
          
        
        
        
        
      
      
      
      
      
    
    
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312933G57
        
          
        
        70142.80000000
        PA
        USD
        78605.16000000
        0.008750195573
        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
        31296LHJ3
        
          
        
        5018.23000000
        PA
        USD
        5689.41000000
        0.000633335651
        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
        31296NBZ9
        
          
        
        55163.55000000
        PA
        USD
        62543.70000000
        0.006962260580
        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
        31416BY51
        
          
        
        60148.44000000
        PA
        USD
        62546.05000000
        0.006962522178
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2023-10-01
          Fixed
          5.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296JYW0
        
          
        
        3424.43000000
        PA
        USD
        3882.57000000
        0.000432201229
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-07-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3132GE3J7
        
          
        
        6048.88000000
        PA
        USD
        6754.41000000
        0.000751889678
        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 II Pool
        36179TXW0
        
          
        
        566005.18000000
        PA
        USD
        610892.67000000
        0.068003555195
        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
        36296GNX5
        
          
        
        14120.80000000
        PA
        USD
        16721.62000000
        0.001861422905
        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
        3129345T5
        
          
        
        6947.67000000
        PA
        USD
        7785.87000000
        0.000866710088
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128M4XL2
        
          
        
        2782.27000000
        PA
        USD
        3026.26000000
        0.000336878226
        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
        21H022671
        
          
        
        54000000.00000000
        PA
        USD
        56815360.20000000
        6.324591328511
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2050-07-21
          Fixed
          2.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296NBX4
        
          
        
        130116.34000000
        PA
        USD
        147524.18000000
        0.016422146164
        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
        31411DUP2
        
          
        
        26777.01000000
        PA
        USD
        28118.58000000
        0.003130113522
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2036-11-01
          Floating
          4.06000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31416QZ40
        
          
        
        104232.37000000
        PA
        USD
        116786.46000000
        0.013000474336
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-04-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac REMICS
        312907TB4
        
          
        
        13.15000000
        PA
        USD
        66.31000000
        0.000007381518
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2021-11-15
          Fixed
          1172.81000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31409EEM9
        
          
        
        69519.30000000
        PA
        USD
        72138.29000000
        0.008030314368
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2036-04-01
          Floating
          3.94000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296NFQ5
        
          
        
        27708.41000000
        PA
        USD
        31414.35000000
        0.003496993152
        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
        36294T3P8
        
          
        
        31087.19000000
        PA
        USD
        36465.32000000
        0.004059258726
        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
        3132GDBF8
        
          
        
        3806.91000000
        PA
        USD
        4250.94000000
        0.000473207565
        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
        3128M6T73
        
          
        
        97176.61000000
        PA
        USD
        105698.47000000
        0.011766177745
        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
        312932Z74
        
          
        
        1851.23000000
        PA
        USD
        2074.57000000
        0.000230937679
        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
        31410AKW5
        
          
        
        725498.40000000
        PA
        USD
        752878.42000000
        0.083809172551
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2036-07-01
          Floating
          4.07000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Goldman Sachs Financial Square Government Fund
        549300BRJMXN4GUWZ402
        Goldman Sachs Financial Square Government Fund
        38141W273
        
          
        
        93013119.00000000
        NS
        USD
        93013119.00000000
        10.35406558709
        Long
        EC
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        912810RD2
        
          
        
        7370000.00000000
        PA
        USD
        10966329.69000000
        1.220753567676
        Long
        DBT
        UST
        US
        N
        
        1
        
          2043-11-15
          Fixed
          3.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36292N6W5
        
          
        
        57243.79000000
        PA
        USD
        67258.29000000
        0.007487080891
        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
        3129316G8
        
          
        
        34251.79000000
        PA
        USD
        38384.09000000
        0.004272853008
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-03-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae II Pool
        36225DFP4
        
          
        
        937649.16000000
        PA
        USD
        965664.24000000
        0.107496135852
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2034-09-20
          Floating
          3.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        UMBS, TBA
        N/A
        Uniform Mortgage-Backed Security, TBA
        01F032674
        
          
        
        19000000.00000000
        PA
        USD
        19979687.50000000
        2.224105556385
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2050-07-15
          Fixed
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312934BJ0
        
          
        
        10168.21000000
        PA
        USD
        11394.53000000
        0.001268420113
        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
        3128M7UU8
        
          
        
        5509.09000000
        PA
        USD
        6173.73000000
        0.000687249347
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-11-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        912810RP5
        
          
        
        10000.00000000
        PA
        USD
        13473.44000000
        0.001499840914
        Long
        DBT
        UST
        US
        N
        
        1
        
          2045-11-15
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128MJLM0
        
          
        
        1213.05000000
        PA
        USD
        1359.40000000
        0.000151326145
        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 Non Gold Pool
        31300MS46
        
          
        
        1555966.08000000
        PA
        USD
        1605964.25000000
        0.178773267188
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2044-11-01
          Floating
          3.87000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        3620C06T0
        
          
        
        13688.93000000
        PA
        USD
        16062.54000000
        0.001788055216
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2039-02-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128MJMN7
        
          
        
        7767.65000000
        PA
        USD
        8704.78000000
        0.000969001620
        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
        36294RS67
        
          
        
        14422.78000000
        PA
        USD
        16940.46000000
        0.001885783809
        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
        3132GFCQ8
        
          
        
        5184.85000000
        PA
        USD
        5789.60000000
        0.000644488635
        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
        31335HTC7
        
          
        
        19704.97000000
        PA
        USD
        20272.83000000
        0.002256737691
        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 Gold Pool
        3128L9C35
        
          
        
        280.47000000
        PA
        USD
        314.29000000
        0.000034986239
        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
        912828YD6
        
          
        
        630000.00000000
        PA
        USD
        666421.88000000
        0.074184974424
        Long
        DBT
        UST
        US
        N
        
        1
        
          2026-08-31
          Fixed
          1.38000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31410GM26
        
          
        
        475189.64000000
        PA
        USD
        497765.28000000
        0.055410402441
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2037-07-01
          Floating
          3.71000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312930XX3
        
          
        
        51450.03000000
        PA
        USD
        57653.36000000
        0.006417876071
        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
        3128M7VD5
        
          
        
        1352.41000000
        PA
        USD
        1531.66000000
        0.000170501841
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-12-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36292DTP7
        
          
        
        2899.57000000
        PA
        USD
        3342.64000000
        0.000372097120
        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
        36292LD76
        
          
        
        1793.08000000
        PA
        USD
        2116.21000000
        0.000235572974
        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
        36294TZP3
        
          
        
        5652.93000000
        PA
        USD
        6605.30000000
        0.000735291001
        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
        31406GLK3
        
          
        
        35512.64000000
        PA
        USD
        37002.96000000
        0.004119107915
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-02-01
          Floating
          3.46000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31409BB30
        
          
        
        395540.49000000
        PA
        USD
        414968.65000000
        0.046193619404
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2036-03-01
          Floating
          3.72000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae II Pool
        36179TE35
        
          
        
        8443310.50000000
        PA
        USD
        9165684.68000000
        1.020308762330
        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
        3128M6T65
        
          
        
        157946.66000000
        PA
        USD
        172600.27000000
        0.019213574763
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2038-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        3138A1PN5
        
          
        
        5883.01000000
        PA
        USD
        6568.46000000
        0.000731190034
        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
        31296NBW6
        
          
        
        7195.22000000
        PA
        USD
        8157.85000000
        0.000908118283
        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
        36294T2N4
        
          
        
        10839.10000000
        PA
        USD
        12751.59000000
        0.001419485773
        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
        31402RB81
        
          
        
        146545.20000000
        PA
        USD
        153342.05000000
        0.017069781768
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-03-01
          Floating
          3.63000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31404MEY0
        
          
        
        135285.56000000
        PA
        USD
        142187.27000000
        0.015828050226
        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
        3128MJL24
        
          
        
        114575.85000000
        PA
        USD
        128398.82000000
        0.014293142923
        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
        21H030674
        
          
        
        3000000.00000000
        PA
        USD
        3176739.60000000
        0.353629364600
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2050-07-21
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36212USJ1
        
          
        
        4307.63000000
        PA
        USD
        5059.58000000
        0.000563224023
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-03-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31292LHG3
        
          
        
        32922.84000000
        PA
        USD
        36762.92000000
        0.004092387062
        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 Gold Pool
        312933ED2
        
          
        
        1879.04000000
        PA
        USD
        2105.74000000
        0.000234407471
        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
        312938M26
        
          
        
        2897.22000000
        PA
        USD
        3246.63000000
        0.000361409447
        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
        312941DF1
        
          
        
        7577.49000000
        PA
        USD
        8439.33000000
        0.000939452168
        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
        36291Q3N2
        
          
        
        3494.45000000
        PA
        USD
        4121.05000000
        0.000458748426
        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
        3128M9DF6
        
          
        
        20776.94000000
        PA
        USD
        23200.33000000
        0.002582622118
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-12-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31405PKH2
        
          
        
        119253.41000000
        PA
        USD
        124448.63000000
        0.013853414347
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2034-10-01
          Floating
          3.57000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae II Pool
        36179UH62
        
          
        
        23849581.69000000
        PA
        USD
        25925661.54000000
        2.886001489466
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2048-12-20
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Chicago Board of Trade
        549300EX04Q2QBFQTQ27
        US 10YR NOTE (CBT)SEP20 XCBT 20200921
        000000000
        
          
        
        -102.00000000
        NC
        USD
        -21721.74000000
        -0.00241802794
        N/A
        DIR
        
        US
        N
        
        1
        
          
            
              Chicago Board of Trade
              549300EX04Q2QBFQTQ27
            
            Short
            
              
                10 Year US Treasury Note
                TYU0 Comdty
              
            
            2020-09-21
            -14170622.01000000
            USD
            -21721.74000000
          
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296LBN0
        
          
        
        82431.86000000
        PA
        USD
        93460.15000000
        0.010403828333
        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
        312933G65
        
          
        
        13576.78000000
        PA
        USD
        15214.75000000
        0.001693680645
        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
        36294RSZ3
        
          
        
        2506.00000000
        PA
        USD
        2941.13000000
        0.000327401696
        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
        
          
        
        5582.36000000
        PA
        USD
        6575.43000000
        0.000731965922
        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
        
          
        
        37121.22000000
        PA
        USD
        41450.99000000
        0.004614255211
        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
        36291USQ9
        
          
        
        23138.44000000
        PA
        USD
        27168.62000000
        0.003024365556
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2037-02-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36209GR58
        
          
        
        2675.54000000
        PA
        USD
        3081.01000000
        0.000342972904
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2032-02-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        NCUA Guaranteed Notes
        N/A
        NCUA Guaranteed Notes Trust 2010-A1
        62889AAA1
        
          
        
        933833.83000000
        PA
        USD
        929551.36000000
        0.103476110160
        Long
        ABS-O
        CORP
        US
        N
        
        2
        
          2020-12-07
          Floating
          0.53000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36200GEY8
        
          
        
        2394.65000000
        PA
        USD
        2777.58000000
        0.000309195582
        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 II Pool
        36225DEM2
        
          
        
        213292.51000000
        PA
        USD
        219854.03000000
        0.024473784673
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2034-08-20
          Floating
          3.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31391UJW6
        
          
        
        8209.64000000
        PA
        USD
        8428.06000000
        0.000938197610
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-01-01
          Floating
          3.48000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294N7E2
        
          
        
        21382.40000000
        PA
        USD
        25139.29000000
        0.002798463918
        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
        31296NJC2
        
          
        
        9807.71000000
        PA
        USD
        11120.26000000
        0.001237888833
        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
        
          
        
        13123.64000000
        PA
        USD
        14706.94000000
        0.001637152081
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2040-01-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac REMICS
        3137BSCT8
        
          
        
        2744130.10000000
        PA
        USD
        2946639.22000000
        0.328014973300
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2044-03-15
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294R3R8
        
          
        
        999.56000000
        PA
        USD
        1177.38000000
        0.000131063981
        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
        21H050672
        
          
        
        15000000.00000000
        PA
        USD
        16274491.50000000
        1.811649304950
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2050-07-21
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Chicago Board of Trade
        549300EX04Q2QBFQTQ27
        US ULTRA BOND CBT SEP20 XCBT 20200921
        000000000
        
          
        
        -56.00000000
        NC
        USD
        -86459.56000000
        -0.00962453430
        N/A
        DIR
        
        US
        N
        
        1
        
          
            
              Chicago Board of Trade
              549300EX04Q2QBFQTQ27
            
            Short
            
              
                US Treasury Ultra Long Bond
                WNU0 Comdty
              
            
            2020-09-21
            -12123290.44000000
            USD
            -86459.56000000
          
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312936NA1
        
          
        
        9484.22000000
        PA
        USD
        10628.44000000
        0.001183140249
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-10-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3132GD5K4
        
          
        
        20779.03000000
        PA
        USD
        23201.80000000
        0.002582785756
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-05-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        FEDERAL HOME LOAN BANK
        2549001DPIFGXC1TOL40
        Federal Home Loan Banks
        3133X8EW8
        
          
        
        1800000.00000000
        PA
        USD
        2159766.00000000
        0.240421556197
        Long
        DBT
        USGSE
        US
        N
        
        2
        
          2024-08-15
          Fixed
          5.38000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294V3W8
        
          
        
        9295.57000000
        PA
        USD
        11066.00000000
        0.001231848700
        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
        31296MYJ2
        
          
        
        15015.95000000
        PA
        USD
        17024.88000000
        0.001895181303
        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
        36292JPV5
        
          
        
        1380.24000000
        PA
        USD
        1625.84000000
        0.000180985802
        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
        3129366F9
        
          
        
        6334.73000000
        PA
        USD
        7098.98000000
        0.000790246637
        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
        31296MZQ5
        
          
        
        8241.98000000
        PA
        USD
        9344.65000000
        0.001040230883
        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
        36292GT96
        
          
        
        2144.15000000
        PA
        USD
        2495.87000000
        0.000277836094
        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
        31296MLP2
        
          
        
        92899.23000000
        PA
        USD
        105331.78000000
        0.011725358425
        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
        31407E2H5
        
          
        
        439466.70000000
        PA
        USD
        455780.63000000
        0.050736741086
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-04-01
          Floating
          3.22000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac REMICS
        3133TCC63
        
          
        
        161460.76000000
        PA
        USD
        181223.01000000
        0.020173443828
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2027-12-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36292LCU6
        
          
        
        2910.53000000
        PA
        USD
        3414.06000000
        0.000380047476
        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
        3132GDQH8
        
          
        
        38422.29000000
        PA
        USD
        42902.22000000
        0.004775803719
        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
        31296MKF5
        
          
        
        7823.28000000
        PA
        USD
        8869.93000000
        0.000987385843
        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
        312933W67
        
          
        
        633.98000000
        PA
        USD
        710.47000000
        0.000079088337
        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
        31296MBT5
        
          
        
        17637.58000000
        PA
        USD
        19997.25000000
        0.002226060584
        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
        36290XDM9
        
          
        
        1789.56000000
        PA
        USD
        2107.27000000
        0.000234577788
        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
        36200NGB1
        
          
        
        3463.62000000
        PA
        USD
        4087.79000000
        0.000455045978
        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
        31296MK40
        
          
        
        2991.90000000
        PA
        USD
        3392.18000000
        0.000377611831
        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
        36294T2R5
        
          
        
        13293.65000000
        PA
        USD
        16084.59000000
        0.001790509786
        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
        312934TN2
        
          
        
        7416.76000000
        PA
        USD
        8311.55000000
        0.000925227911
        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 II Pool
        36225DG24
        
          
        
        196577.60000000
        PA
        USD
        203014.53000000
        0.022599239562
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2034-10-20
          Floating
          3.13000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296LT84
        
          
        
        11717.90000000
        PA
        USD
        13285.14000000
        0.001478879671
        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
        31296NEH6
        
          
        
        5157.60000000
        PA
        USD
        5847.42000000
        0.000650925061
        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
        36294TZ81
        
          
        
        13589.71000000
        PA
        USD
        15972.31000000
        0.001778010963
        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
        36294V4Q0
        
          
        
        6769.37000000
        PA
        USD
        7875.03000000
        0.000876635231
        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
        31297TW66
        
          
        
        1621.95000000
        PA
        USD
        1764.19000000
        0.000196386694
        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
        36200GGA8
        
          
        
        2180.37000000
        PA
        USD
        2569.02000000
        0.000285979030
        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
        36202TQH2
        
          
        
        20302.10000000
        PA
        USD
        23846.08000000
        0.002654505933
        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
        312941WJ2
        
          
        
        3011.05000000
        PA
        USD
        3353.39000000
        0.000373293793
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2040-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294PDV2
        
          
        
        1540.64000000
        PA
        USD
        1813.04000000
        0.000201824595
        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
        36241KEP9
        
          
        
        57.81000000
        PA
        USD
        57.79000000
        0.000006433086
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2020-07-15
          Fixed
          5.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128MMH48
        
          
        
        486.92000000
        PA
        USD
        504.20000000
        0.000056126704
        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 II Pool
        36179UH54
        
          
        
        8229798.64000000
        PA
        USD
        8820103.17000000
        0.981839203855
        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
        36294NEZ7
        
          
        
        4089.97000000
        PA
        USD
        4827.01000000
        0.000537334718
        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
        36292MDS8
        
          
        
        26592.50000000
        PA
        USD
        31213.97000000
        0.003474687184
        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
        3138EGU44
        
          
        
        21576435.47000000
        PA
        USD
        21925680.29000000
        2.440730234670
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2021-07-01
          Fixed
          4.21000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296MGV5
        
          
        
        47245.92000000
        PA
        USD
        53566.80000000
        0.005962967014
        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
        3133TAG22
        
          
        
        219730.20000000
        PA
        USD
        250650.72000000
        0.027902020943
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2027-07-15
          Fixed
          7.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36201XQK7
        
          
        
        7134.81000000
        PA
        USD
        8410.94000000
        0.000936291840
        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
        36292L7E8
        
          
        
        9130.86000000
        PA
        USD
        10772.24000000
        0.001199147826
        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
        36294T4V4
        
          
        
        6906.39000000
        PA
        USD
        8186.10000000
        0.000911263026
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-11-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Government National Mortgage Association
        38381RL31
        
          
        
        10700361.57000000
        PA
        USD
        11796570.81000000
        1.313174627221
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2048-12-20
          Fixed
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294P7G2
        
          
        
        20549.90000000
        PA
        USD
        24145.00000000
        0.002687781210
        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
        36291YLN5
        
          
        
        2087.87000000
        PA
        USD
        2456.26000000
        0.000273426774
        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
        
          
        
        10479.91000000
        PA
        USD
        11881.98000000
        0.001322682236
        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
        31296K5G4
        
          
        
        11307.94000000
        PA
        USD
        12820.79000000
        0.001427189002
        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
        36201CL51
        
          
        
        1223.29000000
        PA
        USD
        1352.62000000
        0.000150571406
        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
        36200GFH4
        
          
        
        2586.12000000
        PA
        USD
        3033.88000000
        0.000337726471
        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
        31296NB22
        
          
        
        119849.96000000
        PA
        USD
        135884.30000000
        0.015126414097
        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
        31298FT36
        
          
        
        4831.11000000
        PA
        USD
        5684.77000000
        0.000632819134
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2031-01-01
          Fixed
          7.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        912810RU4
        
          
        
        200000.00000000
        PA
        USD
        265812.50000000
        0.029589805056
        Long
        DBT
        UST
        US
        N
        
        1
        
          2046-11-15
          Fixed
          2.88000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312934DE9
        
          
        
        1631.87000000
        PA
        USD
        1828.75000000
        0.000203573406
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-07-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31401MKT7
        
          
        
        376527.00000000
        PA
        USD
        394484.14000000
        0.043913317847
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-05-01
          Floating
          3.06000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        N/A
        Fannie Mae REMICS
        31396VGA0
        
          
        
        276847.75000000
        PA
        USD
        276567.64000000
        0.030787049339
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2037-04-25
          Floating
          0.53000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31390N3Z3
        
          
        
        28707.80000000
        PA
        USD
        29708.70000000
        0.003307123033
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2032-07-01
          Floating
          4.26000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294N7H5
        
          
        
        32188.94000000
        PA
        USD
        37915.18000000
        0.004220654727
        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
        3128MJMK3
        
          
        
        4026.31000000
        PA
        USD
        4512.06000000
        0.000502275008
        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
        36294TZ24
        
          
        
        4742.91000000
        PA
        USD
        5579.77000000
        0.000621130708
        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
        
          
        
        1342.54000000
        PA
        USD
        1460.27000000
        0.000162554825
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-07-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296MUC1
        
          
        
        868.55000000
        PA
        USD
        984.75000000
        0.000109620730
        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
        312941M53
        
          
        
        2776.30000000
        PA
        USD
        3092.07000000
        0.000344204085
        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 Gold Pool
        312931GB8
        
          
        
        2781.97000000
        PA
        USD
        3117.49000000
        0.000347033797
        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
        312930QZ6
        
          
        
        1425.50000000
        PA
        USD
        1597.37000000
        0.000177816569
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-01-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        FREDDIE MAC
        S6XOOCT0IEG5ABCC6L87
        Federal Home Loan Mortgage Corp
        3137EAEQ8
        
          
        
        50330000.00000000
        PA
        USD
        50486023.00000000
        5.620020046565
        Long
        DBT
        USGSE
        US
        N
        
        2
        
          2023-04-20
          Fixed
          0.38000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294NCZ9
        
          
        
        2262.53000000
        PA
        USD
        2594.37000000
        0.000288800950
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-07-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        31359MFJ7
        
          
        
        16080000.00000000
        PA
        USD
        25061484.00000000
        2.789802684134
        Long
        DBT
        USGSE
        US
        N
        
        2
        
          2030-01-15
          Fixed
          7.13000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296MQ28
        
          
        
        87122.70000000
        PA
        USD
        98778.56000000
        0.010995864882
        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
        36294PDW0
        
          
        
        3181.49000000
        PA
        USD
        3738.59000000
        0.000416173615
        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
        312941WK9
        
          
        
        6500.57000000
        PA
        USD
        7239.93000000
        0.000805936956
        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
        312941VC8
        
          
        
        5794.34000000
        PA
        USD
        6453.37000000
        0.000718378406
        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
        9128285P1
        
          
        
        380000.00000000
        PA
        USD
        414645.31000000
        0.046157625733
        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
        36294R5M7
        
          
        
        5050.03000000
        PA
        USD
        5939.21000000
        0.000661142971
        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
        36292DTS1
        
          
        
        379.47000000
        PA
        USD
        446.98000000
        0.000049757069
        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
        
          
        
        51294.62000000
        PA
        USD
        60345.23000000
        0.006717530559
        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
        36292L5P5
        
          
        
        6346.40000000
        PA
        USD
        7422.37000000
        0.000826245873
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-05-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        9128285T3
        
          
        
        4500000.00000000
        PA
        USD
        5056523.46000000
        0.562883775002
        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
        31296NDY0
        
          
        
        190319.54000000
        PA
        USD
        215789.68000000
        0.024021347996
        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
        36291Q5N0
        
          
        
        8395.07000000
        PA
        USD
        9888.92000000
        0.001100818114
        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
        312939EX5
        
          
        
        4618.29000000
        PA
        USD
        5143.56000000
        0.000572572537
        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
        3128M9C91
        
          
        
        329772.49000000
        PA
        USD
        367279.91000000
        0.040884988245
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        UMBS, TBA
        N/A
        Uniform Mortgage-Backed Security, TBA
        01F050676
        
          
        
        9000000.00000000
        PA
        USD
        9829237.50000000
        1.094174357771
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2050-07-15
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294Q6Z9
        
          
        
        5984.35000000
        PA
        USD
        7053.17000000
        0.000785147144
        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
        36295PUN0
        
          
        
        8928.89000000
        PA
        USD
        10525.91000000
        0.001171726780
        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
        36294SDJ3
        
          
        
        2214.24000000
        PA
        USD
        2580.39000000
        0.000287244719
        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
        36292HFE8
        
          
        
        1744.79000000
        PA
        USD
        2050.69000000
        0.000228279397
        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
        3129413L9
        
          
        
        6360.47000000
        PA
        USD
        7083.90000000
        0.000788567956
        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
        312942N35
        
          
        
        6270.14000000
        PA
        USD
        6983.03000000
        0.000777339276
        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
        312933G73
        
          
        
        7614.95000000
        PA
        USD
        8533.65000000
        0.000949951713
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-05-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        912810SE9
        
          
        
        1400000.00000000
        PA
        USD
        2055593.75000000
        0.228825274721
        Long
        DBT
        UST
        US
        N
        
        1
        
          2048-11-15
          Fixed
          3.38000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128M6NW4
        
          
        
        4148.71000000
        PA
        USD
        4512.36000000
        0.000502308404
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2038-06-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        912828W55
        
          
        
        43730000.00000000
        PA
        USD
        44970155.69000000
        5.006002878756
        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
        36225B7J1
        
          
        
        5132.04000000
        PA
        USD
        6106.79000000
        0.000679797698
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2034-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36291QYE8
        
          
        
        1454.10000000
        PA
        USD
        1716.14000000
        0.000191037848
        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
        36294NA99
        
          
        
        53537.88000000
        PA
        USD
        65859.99000000
        0.007331424463
        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
        312931EM6
        
          
        
        23602.20000000
        PA
        USD
        26449.68000000
        0.002944334352
        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
        312941XA0
        
          
        
        4808.03000000
        PA
        USD
        5354.68000000
        0.000596074064
        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
        31296NHA8
        
          
        
        3033.57000000
        PA
        USD
        3439.55000000
        0.000382884980
        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
        
          
        
        8397.19000000
        PA
        USD
        9723.49000000
        0.001082402722
        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
        36292LBM5
        
          
        
        6628.15000000
        PA
        USD
        7788.78000000
        0.000867034025
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-03-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        LCH Limited
        F226TOH6YD6XJB17KS62
        Long: SR214356  IRS USD R F   .84500 2 CCPVANILLA / Short: SR214356  IRS USD P V 03MLIBOR 1 CCPVANILLA
        000000000
        
          
        
        6240000.00000000
        OU
        Notional Amount
        USD
        -35591.09000000
        -0.00396194089
        N/A
        DIR
        
        US
        N
        
        2
        
          
            
              LCH Limited
              F226TOH6YD6XJB17KS62
            
            
              
                ICE Libor USD 3 Months
                US0003M Index
              
            
            Y
            
            
              
                
              
            
            2050-04-10
            224.64000000
            USD
            0.00000000
            USD
            6240000.00000000
            USD
            -35815.73000000
          
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294XCV6
        
          
        
        50755.25000000
        PA
        USD
        59784.33000000
        0.006655092104
        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
        31296LYL9
        
          
        
        75669.50000000
        PA
        USD
        85793.08000000
        0.009550342863
        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
        36295AD51
        
          
        
        8189.43000000
        PA
        USD
        9518.21000000
        0.001059551294
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2037-11-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312940RF8
        
          
        
        19072.22000000
        PA
        USD
        21241.44000000
        0.002364561744
        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
        312933WQ3
        
          
        
        391482.16000000
        PA
        USD
        438712.40000000
        0.048836734132
        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
        36294TMK8
        
          
        
        10079.16000000
        PA
        USD
        11864.93000000
        0.001320784258
        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
        31296NH26
        
          
        
        3675.90000000
        PA
        USD
        3999.83000000
        0.000445254417
        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
        31401K5T8
        
          
        
        169932.32000000
        PA
        USD
        177474.43000000
        0.019756158142
        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
        36202VRZ6
        
          
        
        4677.06000000
        PA
        USD
        5486.20000000
        0.000610714652
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-01-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        N/A
        Fannie Mae REMICS
        3136ANSD0
        
          
        
        5017655.79000000
        PA
        USD
        5346615.31000000
        0.595176316888
        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 Non Gold Pool
        3128JPHF0
        
          
        
        270551.30000000
        PA
        USD
        283953.71000000
        0.031609254357
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2034-11-01
          Floating
          3.72000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae II Pool
        36179UKY7
        
          
        
        1741595.42000000
        PA
        USD
        1863658.79000000
        0.207459394449
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2049-01-20
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36200GDB9
        
          
        
        3295.36000000
        PA
        USD
        3870.61000000
        0.000430869862
        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
        3140Q9MP5
        
          
        
        7269741.80000000
        PA
        USD
        7926877.75000000
        0.882406836871
        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 I Pool
        36290VKV5
        
          
        
        5863.24000000
        PA
        USD
        6878.39000000
        0.000765690925
        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
        31416BY28
        
          
        
        108849.99000000
        PA
        USD
        113035.35000000
        0.012582907015
        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
        36294RPC7
        
          
        
        1482.43000000
        PA
        USD
        1742.89000000
        0.000194015613
        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
        36294TYH2
        
          
        
        8959.39000000
        PA
        USD
        10546.77000000
        0.001174048881
        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 Pool
        3132DMC60
        
          
        
        27788113.27000000
        PA
        USD
        30339865.42000000
        3.377383317962
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2049-10-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296MME6
        
          
        
        6235.89000000
        PA
        USD
        7070.17000000
        0.000787039556
        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
        31296LSV4
        
          
        
        133375.34000000
        PA
        USD
        151219.19000000
        0.016833468527
        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
        36294QAB7
        
          
        
        6912.62000000
        PA
        USD
        8119.30000000
        0.000903826961
        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
        36213CZ29
        
          
        
        2036.15000000
        PA
        USD
        2388.68000000
        0.000265903881
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2035-12-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31410GC35
        
          
        
        89251.98000000
        PA
        USD
        92736.65000000
        0.010323289518
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-05-01
          Floating
          3.29000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36200FDT2
        
          
        
        949.39000000
        PA
        USD
        1114.75000000
        0.000124092114
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2035-10-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        3140Q9VK6
        
          
        
        6936106.58000000
        PA
        USD
        7703973.81000000
        0.857593541293
        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
        36294QAV3
        
          
        
        14418.84000000
        PA
        USD
        17005.41000000
        0.001893013935
        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
        31296MY52
        
          
        
        11318.05000000
        PA
        USD
        12832.26000000
        0.001428465823
        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
        312940A41
        
          
        
        18583.14000000
        PA
        USD
        20696.74000000
        0.002303926647
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2040-04-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312933AL8
        
          
        
        4475.43000000
        PA
        USD
        5015.37000000
        0.000558302640
        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
        31296NBQ9
        
          
        
        49534.62000000
        PA
        USD
        56161.70000000
        0.006251826963
        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
        36291YKE6
        
          
        
        5569.78000000
        PA
        USD
        6550.47000000
        0.000729187417
        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
        3138AXBQ3
        
          
        
        352838.65000000
        PA
        USD
        393948.91000000
        0.043853736934
        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
        3132GEEY2
        
          
        
        3984.77000000
        PA
        USD
        4449.38000000
        0.000495297575
        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
        36291YL47
        
          
        
        3991.54000000
        PA
        USD
        4703.64000000
        0.000523601375
        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
        3128MJQD5
        
          
        
        10798.78000000
        PA
        USD
        12058.34000000
        0.001342314337
        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
        3128M8BM5
        
          
        
        3836.61000000
        PA
        USD
        4299.48000000
        0.000478610957
        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
        3128MJLL2
        
          
        
        987.17000000
        PA
        USD
        1106.27000000
        0.000123148135
        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
        36294N3K2
        
          
        
        2220.85000000
        PA
        USD
        2601.99000000
        0.000289649195
        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
        36294T3L7
        
          
        
        4833.36000000
        PA
        USD
        5691.46000000
        0.000633563853
        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
        3620C4RV4
        
          
        
        2888.54000000
        PA
        USD
        3341.52000000
        0.000371972444
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2039-01-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36290TRL5
        
          
        
        9010.86000000
        PA
        USD
        10601.65000000
        0.001180158031
        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
        3128M8A20
        
          
        
        3798.35000000
        PA
        USD
        4230.36000000
        0.000470916633
        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
        3128K8AJ5
        
          
        
        3913.70000000
        PA
        USD
        4256.91000000
        0.000473872135
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-10-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31402MQC7
        
          
        
        336789.12000000
        PA
        USD
        351745.79000000
        0.039155755863
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2034-06-01
          Floating
          4.60000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31406C6V5
        
          
        
        439544.68000000
        PA
        USD
        464549.45000000
        0.051712871533
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-08-01
          Floating
          4.60000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36290TTL3
        
          
        
        28184.24000000
        PA
        USD
        33886.19000000
        0.003772154267
        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
        36290XDT4
        
          
        
        4037.26000000
        PA
        USD
        4748.11000000
        0.000528551701
        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
        31359MEU3
        
          
        
        5200000.00000000
        PA
        USD
        7532200.00000000
        0.838471966681
        Long
        DBT
        USGSE
        US
        N
        
        2
        
          2029-05-15
          Fixed
          6.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296MMR7
        
          
        
        25887.36000000
        PA
        USD
        29350.75000000
        0.003267276635
        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
        312930WL0
        
          
        
        782.18000000
        PA
        USD
        876.49000000
        0.000097569407
        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
        36294PBX0
        
          
        
        8151.06000000
        PA
        USD
        9570.79000000
        0.001065404412
        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 Non Gold Pool
        31300MAH6
        
          
        
        121561.65000000
        PA
        USD
        126364.20000000
        0.014066652411
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2042-06-01
          Floating
          3.71000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36292HCB7
        
          
        
        4289.01000000
        PA
        USD
        5031.01000000
        0.000560043659
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2035-12-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        N/A
        Fannie Mae REMICS
        3136A9EA2
        
          
        
        287481.53000000
        PA
        USD
        355594.85000000
        0.039584226815
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2042-10-25
          Fixed
          7.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31292HYA6
        
          
        
        9259.63000000
        PA
        USD
        10498.83000000
        0.001168712280
        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
        36294TBD6
        
          
        
        2999.02000000
        PA
        USD
        3529.28000000
        0.000392873575
        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
        9128286H8
        
          
        
        71560000.00000000
        PA
        USD
        74251886.12000000
        8.265596370894
        Long
        DBT
        UST
        US
        N
        
        1
        
          2022-03-15
          Fixed
          2.38000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294T4N2
        
          
        
        27631.30000000
        PA
        USD
        33915.82000000
        0.003775452629
        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 II Pool
        36179UCC4
        
          
        
        2851845.05000000
        PA
        USD
        3066427.28000000
        0.341349580752
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2048-09-20
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36211SEE3
        
          
        
        3541.91000000
        PA
        USD
        4170.53000000
        0.000464256457
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2035-05-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        N/A
        Fannie Mae REMICS
        31358FKA6
        
          
        
        90.18000000
        PA
        USD
        92.95000000
        0.000010347039
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2020-11-25
          Floating
          21.32000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36290TXK0
        
          
        
        5610.86000000
        PA
        USD
        6579.31000000
        0.000732397837
        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
        3128M84D3
        
          
        
        6815.23000000
        PA
        USD
        7590.38000000
        0.000844948467
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31411GK50
        
          
        
        3856.85000000
        PA
        USD
        4092.37000000
        0.000455555816
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2046-12-01
          Floating
          3.95000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36290TNV7
        
          
        
        3702.18000000
        PA
        USD
        4349.86000000
        0.000484219174
        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 II Pool
        36179TSJ5
        
          
        
        206755.36000000
        PA
        USD
        223733.76000000
        0.024905669759
        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
        36292LDV3
        
          
        
        5697.71000000
        PA
        USD
        6705.13000000
        0.000746403910
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-05-15
          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
        
          
        
        18407216.39000000
        PA
        USD
        18722358.98000000
        2.084141838357
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2021-09-25
          Fixed
          2.99000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296ML23
        
          
        
        12952.40000000
        PA
        USD
        14685.26000000
        0.001634738699
        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
        3128K7ZU5
        
          
        
        1650.66000000
        PA
        USD
        1795.41000000
        0.000199862052
        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
        3128M8GK4
        
          
        
        1774.29000000
        PA
        USD
        1929.89000000
        0.000214832142
        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
        312940M30
        
          
        
        9180.73000000
        PA
        USD
        10224.92000000
        0.001138221075
        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
        312931AH1
        
          
        
        11929.32000000
        PA
        USD
        13368.03000000
        0.001488106848
        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
        31402TUP8
        
          
        
        45108.92000000
        PA
        USD
        46925.47000000
        0.005223665213
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-08-01
          Floating
          4.13000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294RR35
        
          
        
        11433.64000000
        PA
        USD
        13407.12000000
        0.001492458282
        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
        01F040677
        
          
        
        7000000.00000000
        PA
        USD
        7416445.40000000
        0.825586357282
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2050-07-15
          Fixed
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296NBT3
        
          
        
        35371.06000000
        PA
        USD
        40103.24000000
        0.004464225925
        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
        36294TAZ8
        
          
        
        4033.85000000
        PA
        USD
        4758.98000000
        0.000529761732
        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
        36290UKK1
        
          
        
        9534.07000000
        PA
        USD
        11250.06000000
        0.001252337953
        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
        36200EHF1
        
          
        
        2220.75000000
        PA
        USD
        2608.41000000
        0.000290363859
        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
        36290TTJ8
        
          
        
        41204.78000000
        PA
        USD
        48413.34000000
        0.005389292424
        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
        
          
        
        32350.58000000
        PA
        USD
        37935.46000000
        0.004222912263
        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
        
          
        
        464.72000000
        PA
        USD
        546.37000000
        0.000060820998
        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
        36291LAX3
        
          
        
        2208.52000000
        PA
        USD
        2599.81000000
        0.000289406521
        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
        36200JM56
        
          
        
        845.85000000
        PA
        USD
        994.78000000
        0.000110737253
        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
        36201XRL4
        
          
        
        7010.77000000
        PA
        USD
        8217.54000000
        0.000914762874
        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
        36201XRM2
        
          
        
        2324.79000000
        PA
        USD
        2733.00000000
        0.000304233010
        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
        36290TX79
        
          
        
        7349.86000000
        PA
        USD
        8652.07000000
        0.000963134031
        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
        36291NU33
        
          
        
        4726.90000000
        PA
        USD
        5557.42000000
        0.000618642744
        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
        36294T2T1
        
          
        
        3461.86000000
        PA
        USD
        4077.71000000
        0.000453923889
        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
        36292L5H3
        
          
        
        12958.24000000
        PA
        USD
        15293.41000000
        0.001702436945
        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
        36292MDL3
        
          
        
        5108.71000000
        PA
        USD
        5998.53000000
        0.000667746375
        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
        36294ST49
        
          
        
        31047.11000000
        PA
        USD
        37350.64000000
        0.004157811074
        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
        9128284L1
        
          
        
        350000.00000000
        PA
        USD
        375429.69000000
        0.041792208189
        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
        36294RGB9
        
          
        
        4640.69000000
        PA
        USD
        5461.21000000
        0.000607932807
        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
        31296LAM3
        
          
        
        31690.52000000
        PA
        USD
        35930.29000000
        0.003999700076
        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
        31292K2X4
        
          
        
        6776.72000000
        PA
        USD
        7547.49000000
        0.000840174024
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2040-08-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36212TBB9
        
          
        
        2760.59000000
        PA
        USD
        3216.56000000
        0.000358062105
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2035-06-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Chicago Board of Trade
        549300EX04Q2QBFQTQ27
        US 2YR NOTE (CBT) SEP20 XCBT 20200930
        000000000
        
          
        
        1524.00000000
        NC
        USD
        73226.29000000
        0.008151428717
        N/A
        DIR
        
        US
        N
        
        1
        
          
            
              Chicago Board of Trade
              549300EX04Q2QBFQTQ27
            
            Long
            
              
                2 Year US Treasury Note
                TUU0 Comdty
              
            
            2020-09-30
            336456929.20000000
            USD
            73226.29000000
          
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3132GE7K0
        
          
        
        5130.51000000
        PA
        USD
        5728.93000000
        0.000637734951
        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
        36294Q6X4
        
          
        
        2970.81000000
        PA
        USD
        3499.30000000
        0.000389536251
        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
        912810RG5
        
          
        
        410000.00000000
        PA
        USD
        579701.56000000
        0.064531412748
        Long
        DBT
        UST
        US
        N
        
        1
        
          2044-05-15
          Fixed
          3.38000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294TYJ8
        
          
        
        3570.41000000
        PA
        USD
        4193.67000000
        0.000466832364
        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
        36294RFC8
        
          
        
        11626.72000000
        PA
        USD
        13642.75000000
        0.001518688221
        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
        36294NZL5
        
          
        
        2673.17000000
        PA
        USD
        3138.65000000
        0.000349389293
        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
        36294T3G8
        
          
        
        9401.97000000
        PA
        USD
        11071.16000000
        0.001232423103
        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
        36200GCU8
        
          
        
        2329.06000000
        PA
        USD
        2731.06000000
        0.000304017053
        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 Non Gold Pool
        3128QSVG8
        
          
        
        54854.19000000
        PA
        USD
        57872.50000000
        0.006442270371
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2036-05-01
          Floating
          4.12000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36292DTR3
        
          
        
        1556.39000000
        PA
        USD
        1809.90000000
        0.000201475055
        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
        
          
        
        4030.17000000
        PA
        USD
        4516.39000000
        0.000502757017
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-12-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        FHLMC Multifamily Structured Pass Through Certs.
        N/A
        Freddie Mac Multifamily Structured Pass Through Certificates
        3137BDDC7
        
          
        
        15938398.34000000
        PA
        USD
        16159242.38000000
        1.798819964743
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2021-06-25
          Fixed
          3.13000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128MJM64
        
          
        
        4177.57000000
        PA
        USD
        4681.57000000
        0.000521144579
        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
        3128K7NM6
        
          
        
        858.97000000
        PA
        USD
        934.30000000
        0.000104004720
        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 I Pool
        36290VNF7
        
          
        
        28321.35000000
        PA
        USD
        33307.99000000
        0.003707790005
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2037-01-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36291Q6H2
        
          
        
        1310.15000000
        PA
        USD
        1536.81000000
        0.000171075131
        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
        36290TX61
        
          
        
        6884.31000000
        PA
        USD
        7962.95000000
        0.000886422339
        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
        36290VMA9
        
          
        
        24554.56000000
        PA
        USD
        28922.68000000
        0.003219624595
        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
        3129354U0
        
          
        
        7102.43000000
        PA
        USD
        7959.30000000
        0.000886016027
        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
        36294SAU1
        
          
        
        8077.06000000
        PA
        USD
        9727.36000000
        0.001082833524
        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
        3128LXC32
        
          
        
        2993.67000000
        PA
        USD
        3256.20000000
        0.000362474764
        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
        31292HYS7
        
          
        
        58074.99000000
        PA
        USD
        65847.07000000
        0.007329986230
        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
        
          
        
        4037.36000000
        PA
        USD
        4742.13000000
        0.000527886018
        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
        312945SX7
        
          
        
        10823.80000000
        PA
        USD
        12054.89000000
        0.001341930289
        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
        36292KG67
        
          
        
        7896.76000000
        PA
        USD
        9298.27000000
        0.001035067939
        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
        36200JJA9
        
          
        
        2637.13000000
        PA
        USD
        3111.18000000
        0.000346331379
        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
        36294PAV5
        
          
        
        3338.50000000
        PA
        USD
        3924.70000000
        0.000436891071
        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
        
          
        
        1789.78000000
        PA
        USD
        2029.23000000
        0.000225890505
        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
        31292K2K2
        
          
        
        2501.20000000
        PA
        USD
        2785.68000000
        0.000310097260
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2040-06-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31414NHM9
        
          
        
        101807.53000000
        PA
        USD
        114116.70000000
        0.012703281097
        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
        31296MF95
        
          
        
        259840.70000000
        PA
        USD
        294603.94000000
        0.032794820233
        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
        312943DQ3
        
          
        
        8588.00000000
        PA
        USD
        9564.78000000
        0.001064735389
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2040-10-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        912810SA7
        
          
        
        110000.00000000
        PA
        USD
        150493.75000000
        0.016752713753
        Long
        DBT
        UST
        US
        N
        
        1
        
          2048-02-15
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294Q6D8
        
          
        
        9643.64000000
        PA
        USD
        11352.25000000
        0.001263713574
        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
        3132GDEC2
        
          
        
        26026.10000000
        PA
        USD
        29060.67000000
        0.003234985413
        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
        36294S4W4
        
          
        
        15931.39000000
        PA
        USD
        18700.08000000
        0.002081661779
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2037-08-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294RSW0
        
          
        
        935.61000000
        PA
        USD
        1100.34000000
        0.000122488017
        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
        3128L4RZ9
        
          
        
        1413.96000000
        PA
        USD
        1545.14000000
        0.000172002412
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2038-01-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294PBV4
        
          
        
        750.80000000
        PA
        USD
        885.77000000
        0.000098602442
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-05-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        TENN VALLEY AUTHORITY
        549300HE1ISW43LNKM54
        Tennessee Valley Authority
        880591EW8
        
          
        
        49850000.00000000
        PA
        USD
        50471629.50000000
        5.618417786103
        Long
        DBT
        USGA
        US
        N
        
        2
        
          2025-05-15
          Fixed
          0.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296MFH7
        
          
        
        15833.45000000
        PA
        USD
        17951.76000000
        0.001998360042
        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
        36294YNL4
        
          
        
        13148.22000000
        PA
        USD
        15417.64000000
        0.001716266022
        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
        31406TLS8
        
          
        
        59127.97000000
        PA
        USD
        62232.93000000
        0.006927666181
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-04-01
          Floating
          3.60000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128M66W3
        
          
        
        10203.80000000
        PA
        USD
        11556.65000000
        0.001286467041
        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
        36294SDH7
        
          
        
        359.67000000
        PA
        USD
        412.71000000
        0.000045942190
        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
        36295ERS8
        
          
        
        3654.37000000
        PA
        USD
        4313.34000000
        0.000480153829
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2037-04-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31405NU52
        
          
        
        241087.56000000
        PA
        USD
        251486.05000000
        0.027995008488
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2034-10-01
          Floating
          3.92000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294N6L7
        
          
        
        56529.00000000
        PA
        USD
        69180.78000000
        0.007701089278
        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
        01F022683
        
          
        
        32000000.00000000
        PA
        USD
        33283753.60000000
        3.705092050069
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2050-08-15
          Fixed
          2.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312933AQ7
        
          
        
        7330.91000000
        PA
        USD
        8215.35000000
        0.000914519087
        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
        312931D70
        
          
        
        8058.22000000
        PA
        USD
        9029.80000000
        0.001005182305
        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
        31296J3U8
        
          
        
        16335.94000000
        PA
        USD
        18520.83000000
        0.002061707967
        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
        36294NDR6
        
          
        
        2069.75000000
        PA
        USD
        2374.99000000
        0.000264379933
        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
        31296MM22
        
          
        
        35910.12000000
        PA
        USD
        40714.42000000
        0.004532261465
        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
        36292MAF9
        
          
        
        1994.70000000
        PA
        USD
        2333.93000000
        0.000259809202
        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
        36292K6T8
        
          
        
        13915.33000000
        PA
        USD
        16365.36000000
        0.001821764635
        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
        31296MY45
        
          
        
        7774.89000000
        PA
        USD
        8815.07000000
        0.000981278919
        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
        31296MZR3
        
          
        
        17443.38000000
        PA
        USD
        19777.07000000
        0.002201550513
        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
        
          
        
        16802278.38000000
        PA
        USD
        17080668.61000000
        1.901391598956
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2042-11-15
          Fixed
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296XML6
        
          
        
        2671.41000000
        PA
        USD
        3025.48000000
        0.000336791397
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2034-04-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Non Gold Pool
        3128QGHZ8
        
          
        
        13982.70000000
        PA
        USD
        14621.19000000
        0.001627606533
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2036-10-01
          Floating
          3.93000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294TYU3
        
          
        
        22644.13000000
        PA
        USD
        27496.01000000
        0.003060810066
        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
        31394PP72
        
          
        
        500662.57000000
        PA
        USD
        566353.55000000
        0.063045534492
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2034-02-15
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294QAX9
        
          
        
        8985.40000000
        PA
        USD
        10539.89000000
        0.001173283011
        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
        312946PD2
        
          
        
        16424.64000000
        PA
        USD
        18340.39000000
        0.002041621687
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-03-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3132GEK58
        
          
        
        3044.56000000
        PA
        USD
        3399.68000000
        0.000378446718
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-06-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        FDIC STRUCTURED SALE GUARANTEED NOTES
        N/A
        FDIC Guaranteed Notes Trust 2010-S1
        30250GAB4
        
          
        
        997180.53000000
        PA
        USD
        982697.18000000
        0.109392214381
        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
        3132GESE1
        
          
        
        7830.26000000
        PA
        USD
        8743.57000000
        0.000973319658
        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
        31416BY36
        
          
        
        104906.34000000
        PA
        USD
        109087.79000000
        0.012143471206
        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
        312933QN7
        
          
        
        266904.48000000
        PA
        USD
        299105.09000000
        0.033295880759
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-06-01
          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
        
          
        
        9300000.00000000
        OU
        Notional Amount
        USD
        1063.92000000
        0.000118433803
        N/A
        DIR
        
        US
        N
        
        2
        
          
            
              LCH Limited
              F226TOH6YD6XJB17KS62
            
            
              
                ICE Libor USD 3 Months
                US0003M Index
              
            
            Y
            
              
                
              
            
            
              
                
              
            
            2024-07-25
            0.00000000
            USD
            0.00000000
            USD
            9300000.00000000
            USD
            1063.92000000
          
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae II Pool
        36225DAZ7
        
          
        
        115986.41000000
        PA
        USD
        119738.92000000
        0.013329137269
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2034-05-20
          Floating
          3.88000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312932Z66
        
          
        
        20076.84000000
        PA
        USD
        22499.04000000
        0.002504555683
        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
        31296LCD1
        
          
        
        7018.71000000
        PA
        USD
        7957.72000000
        0.000885840144
        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
        36291YKN6
        
          
        
        6057.34000000
        PA
        USD
        7132.74000000
        0.000794004744
        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 Strip Coupon
        912833Y20
        
          
        
        2800000.00000000
        PA
        USD
        2343291.52000000
        0.260851311606
        Long
        DBT
        UST
        US
        N
        
        1
        
          2036-05-15
          None
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Chicago Board of Trade
        549300EX04Q2QBFQTQ27
        US 5YR NOTE (CBT) SEP20 XCBT 20200930
        000000000
        
          
        
        -1538.00000000
        NC
        USD
        -485480.91000000
        -0.05404292682
        N/A
        DIR
        
        US
        N
        
        1
        
          
            
              Chicago Board of Trade
              549300EX04Q2QBFQTQ27
            
            Short
            
              
                5 Year US Treasury Note
                FVU0 Comdty
              
            
            2020-09-30
            -192893987.84000000
            USD
            -485480.91000000
          
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294QDK4
        
          
        
        3470.02000000
        PA
        USD
        4087.32000000
        0.000454993659
        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
        36292N7M6
        
          
        
        17370.42000000
        PA
        USD
        20389.20000000
        0.002269691806
        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
        36290TWX3
        
          
        
        3852.60000000
        PA
        USD
        4361.81000000
        0.000485549428
        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
        36292LGU2
        
          
        
        6297.35000000
        PA
        USD
        7396.99000000
        0.000823420614
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-04-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Inflation Indexed Bonds
        912828TE0
        
          
        
        18600868.80000000
        PA
        USD
        19042289.55000000
        2.119755976886
        Long
        DBT
        UST
        US
        N
        
        1
        
          2022-07-15
          Fixed
          0.13000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31409DVL4
        
          
        
        652833.73000000
        PA
        USD
        691262.79000000
        0.076950223178
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2036-04-01
          Floating
          3.72000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        UMBS, TBA
        N/A
        Uniform Mortgage-Backed Security, TBA
        01F030678
        
          
        
        4000000.00000000
        PA
        USD
        4211093.60000000
        0.468771930202
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2050-07-15
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294P5V1
        
          
        
        927.68000000
        PA
        USD
        1092.04000000
        0.000121564075
        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
        31296LYN5
        
          
        
        55201.00000000
        PA
        USD
        62586.16000000
        0.006966987156
        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
        3128L9LZ4
        
          
        
        1831.38000000
        PA
        USD
        2052.19000000
        0.000228446374
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2038-04-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294PND1
        
          
        
        1501.44000000
        PA
        USD
        1767.46000000
        0.000196750705
        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
        312932MW3
        
          
        
        7617.77000000
        PA
        USD
        8536.81000000
        0.000950303479
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-04-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31292LHH1
        
          
        
        25016.60000000
        PA
        USD
        27934.50000000
        0.003109622043
        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
        36292M3H3
        
          
        
        4920.78000000
        PA
        USD
        5789.02000000
        0.000644424070
        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
        3128M7L46
        
          
        
        67432.73000000
        PA
        USD
        75568.13000000
        0.008412118448
        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
        312942E50
        
          
        
        12324.61000000
        PA
        USD
        13725.87000000
        0.001527941001
        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
        312932SU1
        
          
        
        1394.38000000
        PA
        USD
        1562.60000000
        0.000173946031
        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
        36294PNA7
        
          
        
        11395.56000000
        PA
        USD
        13414.57000000
        0.001493287603
        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
        3132GKM52
        
          
        
        12146.71000000
        PA
        USD
        13562.98000000
        0.001509808358
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296MXM6
        
          
        
        2644.46000000
        PA
        USD
        2998.26000000
        0.000333761312
        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
        36294PJ38
        
          
        
        715.39000000
        PA
        USD
        810.00000000
        0.000090167851
        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
        
          
        
        60535.44000000
        PA
        USD
        74042.14000000
        0.008242247781
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2037-10-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294RBT5
        
          
        
        13677.79000000
        PA
        USD
        16270.90000000
        0.001811249505
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2037-05-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        3138ANZG1
        
          
        
        374020.91000000
        PA
        USD
        414842.79000000
        0.046179608878
        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
        36294TZN8
        
          
        
        16652.43000000
        PA
        USD
        20384.43000000
        0.002269160817
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        NCUA Guaranteed Notes
        N/A
        NCUA Guaranteed Notes Trust 2010-R1
        62888VAA6
        
          
        
        724106.79000000
        PA
        USD
        721074.45000000
        0.080268807548
        Long
        ABS-MBS
        CORP
        US
        N
        
        2
        
          2020-10-07
          Floating
          0.62000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Non Gold Pool
        3128QLPD7
        
          
        
        664093.32000000
        PA
        USD
        696050.95000000
        0.077483233179
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-06-01
          Floating
          3.82000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294NMW5
        
          
        
        18771.03000000
        PA
        USD
        22010.97000000
        0.002450224543
        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
        36294P7B3
        
          
        
        10526.14000000
        PA
        USD
        12210.07000000
        0.001359204668
        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
        3129356C8
        
          
        
        31887.52000000
        PA
        USD
        35734.58000000
        0.003977913965
        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
        36296RE37
        
          
        
        57087.38000000
        PA
        USD
        67755.84000000
        0.007542467329
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2038-11-15
          Fixed
          6.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128LXNP1
        
          
        
        1064.75000000
        PA
        USD
        1158.12000000
        0.000128919990
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2036-05-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296K5E9
        
          
        
        4237.76000000
        PA
        USD
        4804.72000000
        0.000534853432
        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
        36292L5Y6
        
          
        
        5370.72000000
        PA
        USD
        6308.25000000
        0.000702223889
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-05-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        FEDERAL HOME LOAN BANK
        2549001DPIFGXC1TOL40
        Federal Home Loan Banks
        3130AJHU6
        
          
        
        44850000.00000000
        PA
        USD
        44930730.00000000
        5.001614076569
        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
        36294TJ48
        
          
        
        1478.59000000
        PA
        USD
        1740.02000000
        0.000193696130
        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
        31296NG43
        
          
        
        4113.87000000
        PA
        USD
        4664.25000000
        0.000519216546
        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
        3132GGEW1
        
          
        
        13913.02000000
        PA
        USD
        15535.82000000
        0.001729421623
        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
        3132GDHH8
        
          
        
        7144.18000000
        PA
        USD
        7977.47000000
        0.000888038681
        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
        3128K7UX4
        
          
        
        17975.00000000
        PA
        USD
        19550.56000000
        0.002176335797
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Chicago Board of Trade
        549300EX04Q2QBFQTQ27
        US 10YR ULTRA FUT SEP20 XCBT 20200921
        000000000
        
          
        
        -117.00000000
        NC
        USD
        -123807.40000000
        -0.01378203369
        N/A
        DIR
        
        US
        N
        
        1
        
          
            
              Chicago Board of Trade
              549300EX04Q2QBFQTQ27
            
            Short
            
              
                US 10 Year Ultra Bond
                UXYU0 Comdty
              
            
            2020-09-21
            -18292723.85000000
            USD
            -123807.40000000
          
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294SS57
        
          
        
        5992.08000000
        PA
        USD
        6809.49000000
        0.000758021092
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-07-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        LCH Limited
        F226TOH6YD6XJB17KS62
        Long: BR214479  IRS USD R V 03MLIBOR 1 CCPVANILLA / Short: BR214479  IRS USD P F  1.16000 2 CCPVANILLA
        000000000
        
          
        
        10970000.00000000
        OU
        Notional Amount
        USD
        -2018.48000000
        -0.00022469383
        N/A
        DIR
        
        US
        N
        
        2
        
          
            
              LCH Limited
              F226TOH6YD6XJB17KS62
            
            
              
                ICE Libor USD 3 Months
                US0003M Index
              
            
            Y
            
              
                
              
            
            
            2035-05-21
            12971.54000000
            USD
            0.00000000
            USD
            10970000.00000000
            USD
            -14990.02000000
          
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128M7PU4
        
          
        
        4853.42000000
        PA
        USD
        5438.96000000
        0.000605455974
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-07-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Chicago Mercantile Exchange
        SNZ2OJLFK8MNNCLQOF39
        90DAY EUR FUTR  DEC20 XCME 20201214
        000000000
        
          
        
        222.00000000
        NC
        USD
        1011523.94000000
        0.112601161323
        N/A
        DIR
        
        US
        N
        
        1
        
          
            
              Chicago Mercantile Exchange
              SNZ2OJLFK8MNNCLQOF39
            
            Long
            
              
                Eurodollar Time Deposit
                EDZ0 Comdty
              
            
            2020-12-14
            54324751.06000000
            USD
            1011523.94000000
          
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312939CA7
        
          
        
        3752.29000000
        PA
        USD
        4204.98000000
        0.000468091374
        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
        36291YLR6
        
          
        
        4446.56000000
        PA
        USD
        5245.88000000
        0.000583962629
        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
        36294SC96
        
          
        
        88481.50000000
        PA
        USD
        104387.08000000
        0.011620195993
        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
        9128285V8
        
          
        
        62560000.00000000
        PA
        USD
        64803362.81000000
        7.213802483056
        Long
        DBT
        UST
        US
        N
        
        1
        
          2022-01-15
          Fixed
          2.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36292KSV9
        
          
        
        3720.43000000
        PA
        USD
        4368.27000000
        0.000486268545
        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
        312946EV4
        
          
        
        11756.15000000
        PA
        USD
        13127.37000000
        0.001461316977
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-03-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296LXG1
        
          
        
        18922.35000000
        PA
        USD
        21453.91000000
        0.002388213551
        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
        31292HYK4
        
          
        
        2885.40000000
        PA
        USD
        3271.55000000
        0.000364183500
        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
        3128K7MY1
        
          
        
        6958.48000000
        PA
        USD
        7568.70000000
        0.000842535085
        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 I Pool
        36294P5Q2
        
          
        
        27370.68000000
        PA
        USD
        33304.36000000
        0.003707385920
        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
        36295ERY5
        
          
        
        18103.96000000
        PA
        USD
        21324.55000000
        0.002373813411
        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
        36295JA48
        
          
        
        8911.73000000
        PA
        USD
        10383.63000000
        0.001155888408
        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
        31296NJN8
        
          
        
        11150.01000000
        PA
        USD
        12641.30000000
        0.001407208474
        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
        3128MJL57
        
          
        
        11641.55000000
        PA
        USD
        13046.04000000
        0.001452263457
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-06-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31410GDS9
        
          
        
        334136.00000000
        PA
        USD
        350079.93000000
        0.038970315100
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2034-02-01
          Floating
          3.90000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36292LC77
        
          
        
        9320.12000000
        PA
        USD
        10950.63000000
        0.001219005904
        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
        36294PE58
        
          
        
        15459.47000000
        PA
        USD
        18188.71000000
        0.002024736922
        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
        31296K7C1
        
          
        
        1688.42000000
        PA
        USD
        1914.31000000
        0.000213097802
        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
        36294RPG8
        
          
        
        3561.85000000
        PA
        USD
        4200.53000000
        0.000467596007
        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
        31296MPG8
        
          
        
        1812.38000000
        PA
        USD
        2054.85000000
        0.000228742481
        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
        36294TYW9
        
          
        
        9598.76000000
        PA
        USD
        11265.45000000
        0.001254051142
        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
        36290TWR6
        
          
        
        5472.46000000
        PA
        USD
        6369.19000000
        0.000709007629
        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
        31296W5V5
        
          
        
        1102.89000000
        PA
        USD
        1249.11000000
        0.000139048846
        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
        36290TPS2
        
          
        
        3088.68000000
        PA
        USD
        3629.03000000
        0.000403977579
        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
        36292L6P4
        
          
        
        4472.84000000
        PA
        USD
        5263.69000000
        0.000585945209
        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
        31296MDN6
        
          
        
        86617.55000000
        PA
        USD
        98205.83000000
        0.010932109532
        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 II Pool
        36179USW3
        
          
        
        11723796.61000000
        PA
        USD
        12711367.03000000
        1.415008219757
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2049-05-20
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36200GES1
        
          
        
        7458.11000000
        PA
        USD
        8795.44000000
        0.000979093740
        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
        31296MMY2
        
          
        
        31076.66000000
        PA
        USD
        35234.31000000
        0.003922224741
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Chicago Mercantile Exchange
        SNZ2OJLFK8MNNCLQOF39
        90DAY EUR FUTR  SEP20 XCME 20200914
        000000000
        
          
        
        -254.00000000
        NC
        USD
        -24203.66000000
        -0.00269431114
        N/A
        DIR
        
        US
        N
        
        1
        
          
            
              Chicago Mercantile Exchange
              SNZ2OJLFK8MNNCLQOF39
            
            Short
            
              
                Eurodollar Time Deposit
                EDU0 Comdty
              
            
            2020-09-14
            -63307521.34000000
            USD
            -24203.66000000
          
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        9128285U0
        
          
        
        7100000.00000000
        PA
        USD
        7700726.60000000
        0.857232067281
        Long
        DBT
        UST
        US
        N
        
        1
        
          2023-12-31
          Fixed
          2.63000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae II Pool
        36225DC85
        
          
        
        250809.70000000
        PA
        USD
        258285.58000000
        0.028751920850
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2034-07-20
          Floating
          3.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296NBY2
        
          
        
        93656.52000000
        PA
        USD
        106186.52000000
        0.011820506659
        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
        36290TTM1
        
          
        
        3102.75000000
        PA
        USD
        3644.37000000
        0.000405685202
        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
        31385HJC7
        
          
        
        28252.00000000
        PA
        USD
        28277.66000000
        0.003147822043
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2029-08-01
          Floating
          2.68000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Non Gold Pool
        3128NHQY2
        
          
        
        10605.65000000
        PA
        USD
        11133.24000000
        0.001239333745
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2036-11-01
          Floating
          3.88000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31403YV83
        
          
        
        332855.36000000
        PA
        USD
        348942.23000000
        0.038843668230
        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
        36290TY52
        
          
        
        26329.41000000
        PA
        USD
        31013.27000000
        0.003452345594
        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
        312941GA9
        
          
        
        26290.91000000
        PA
        USD
        29281.21000000
        0.003259535558
        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
        
          
        
        809928.99000000
        PA
        USD
        984065.42000000
        0.109544524581
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2043-11-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        UMBS, TBA
        N/A
        Uniform Mortgage-Backed Security, TBA
        01F022675
        
          
        
        95000000.00000000
        PA
        USD
        99000393.00000000
        11.02055896297
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2050-07-15
          Fixed
          2.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312935H85
        
          
        
        3518.29000000
        PA
        USD
        3942.76000000
        0.000438901480
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        LCH Limited
        F226TOH6YD6XJB17KS62
        Long: BR214324  IRS USD R V 03MLIBOR 1 CCPVANILLA / Short: BR214324  IRS USD P F   .85500 2 CCPVANILLA
        000000000
        
          
        
        6010000.00000000
        OU
        Notional Amount
        USD
        46094.90000000
        0.005131207543
        N/A
        DIR
        
        US
        N
        
        2
        
          
            
              LCH Limited
              F226TOH6YD6XJB17KS62
            
            
              
                ICE Libor USD 3 Months
                US0003M Index
              
            
            Y
            
              
                
              
            
            
            2045-04-09
            216.36000000
            USD
            0.00000000
            USD
            6010000.00000000
            USD
            45878.54000000
          
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312940XF1
        
          
        
        40316.40000000
        PA
        USD
        44901.88000000
        0.004998402542
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2040-06-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        312933R63
        
          
        
        4874.74000000
        PA
        USD
        5462.85000000
        0.000608115369
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-06-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        3140Q9H30
        
          
        
        7852921.54000000
        PA
        USD
        8560318.99000000
        0.952920461348
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2048-07-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31409JNR7
        
          
        
        156481.83000000
        PA
        USD
        162874.54000000
        0.018130922688
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2036-06-01
          Floating
          4.31000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36290TUN7
        
          
        
        18041.53000000
        PA
        USD
        22034.78000000
        0.002452875032
        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
        36179UUM2
        
          
        
        2628590.65000000
        PA
        USD
        2849192.23000000
        0.317167336573
        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
        36291YF36
        
          
        
        1514.51000000
        PA
        USD
        1738.94000000
        0.000193575906
        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 REMICS
        3137B4PT7
        
          
        
        91743.58000000
        PA
        USD
        109358.73000000
        0.012173631796
        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
        31296MFJ3
        
          
        
        1504.02000000
        PA
        USD
        1705.24000000
        0.000189824478
        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
        36294TAS4
        
          
        
        3276.47000000
        PA
        USD
        3843.75000000
        0.000427879852
        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
        
          
        
        83905.74000000
        PA
        USD
        95131.22000000
        0.010589849064
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-10-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36291Q6N9
        
          
        
        7900.10000000
        PA
        USD
        9294.02000000
        0.001034594836
        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 II Pool
        36225DJ47
        
          
        
        292455.36000000
        PA
        USD
        302072.75000000
        0.033626235731
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2034-12-20
          Floating
          3.13000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36213CYM6
        
          
        
        2073.81000000
        PA
        USD
        2444.73000000
        0.000272143274
        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
        36200RDN9
        
          
        
        2601.10000000
        PA
        USD
        3036.50000000
        0.000338018125
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2035-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31411DUK3
        
          
        
        87687.61000000
        PA
        USD
        92238.68000000
        0.010267856326
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2036-11-01
          Floating
          3.89000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        31296NDX2
        
          
        
        330652.28000000
        PA
        USD
        374889.17000000
        0.041732038402
        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
        31292LHC2
        
          
        
        197338.58000000
        PA
        USD
        220355.89000000
        0.024529650893
        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
        36294THG3
        
          
        
        432.02000000
        PA
        USD
        508.72000000
        0.000056629863
        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
        36292LHT4
        
          
        
        2736.27000000
        PA
        USD
        3220.07000000
        0.000358452832
        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
        36200C5K7
        
          
        
        10643.07000000
        PA
        USD
        12524.88000000
        0.001394248793
        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
        36294PE25
        
          
        
        2029.52000000
        PA
        USD
        2388.36000000
        0.000265868259
        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
        36294QAG6
        
          
        
        632.10000000
        PA
        USD
        743.63000000
        0.000082779653
        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 Strip Coupon
        912833X96
        
          
        
        28900000.00000000
        PA
        USD
        24374271.85000000
        2.713303371458
        Long
        DBT
        UST
        US
        N
        
        1
        
          2035-11-15
          None
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31409JYV6
        
          
        
        374382.22000000
        PA
        USD
        391585.31000000
        0.043590624916
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2036-06-01
          Floating
          4.64000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294TA47
        
          
        
        1625.92000000
        PA
        USD
        1913.40000000
        0.000212996503
        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
        36294SUR6
        
          
        
        3228.12000000
        PA
        USD
        3752.03000000
        0.000417669734
        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
        31398CY93
        
          
        
        1447193.59000000
        PA
        USD
        1508311.04000000
        0.167902674394
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2024-05-15
          Fixed
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36291Y3D7
        
          
        
        2918.75000000
        PA
        USD
        3423.70000000
        0.000381120585
        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
        31297QBW8
        
          
        
        3003.62000000
        PA
        USD
        3266.90000000
        0.000363665870
        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
        3128M7CC8
        
          
        
        2149.06000000
        PA
        USD
        2408.17000000
        0.000268073476
        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
        36294YMZ4
        
          
        
        20061.43000000
        PA
        USD
        23644.45000000
        0.002632060817
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2037-01-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36201EMY3
        
          
        
        3509.81000000
        PA
        USD
        4096.39000000
        0.000456003316
        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
        31296MGK9
        
          
        
        6368.45000000
        PA
        USD
        7220.46000000
        0.000803769588
        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
        312933DC5
        
          
        
        17404.78000000
        PA
        USD
        19504.57000000
        0.002171216267
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-05-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        LCH Limited
        F226TOH6YD6XJB17KS62
        Long: SR214480  IRS USD R F   .98000 2 CCPVANILLA / Short: SR214480  IRS USD P V 03MLIBOR 1 CCPVANILLA
        000000000
        
          
        
        10960000.00000000
        OU
        Notional Amount
        USD
        15970.91000000
        0.001777855117
        N/A
        DIR
        
        US
        N
        
        2
        
          
            
              LCH Limited
              F226TOH6YD6XJB17KS62
            
            
              
                ICE Libor USD 3 Months
                US0003M Index
              
            
            Y
            
            
              
                
              
            
            2030-05-21
            0.00000000
            USD
            -15491.18000000
            USD
            10960000.00000000
            USD
            31462.09000000
          
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294TYS8
        
          
        
        20915.27000000
        PA
        USD
        25262.96000000
        0.002812230657
        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
        36291YL88
        
          
        
        10811.18000000
        PA
        USD
        12504.65000000
        0.001391996824
        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
        312934SC7
        
          
        
        17696.52000000
        PA
        USD
        19831.51000000
        0.002207610683
        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
        31407UK97
        
          
        
        141710.30000000
        PA
        USD
        147929.91000000
        0.016467311352
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-10-01
          Floating
          4.02000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3132GDS86
        
          
        
        42867.36000000
        PA
        USD
        47867.42000000
        0.005328521519
        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
        3128M73B0
        
          
        
        4714.75000000
        PA
        USD
        5283.56000000
        0.000588157104
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2040-04-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        912828L57
        
          
        
        46570000.00000000
        PA
        USD
        48221779.69000000
        5.367968250120
        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
        3132GES84
        
          
        
        71719.93000000
        PA
        USD
        80085.25000000
        0.008914956728
        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
        36200GF43
        
          
        
        4138.27000000
        PA
        USD
        4868.44000000
        0.000541946637
        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
        
          
        
        12503.36000000
        PA
        USD
        14011.82000000
        0.001559772479
        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
        36213CTP5
        
          
        
        7559.32000000
        PA
        USD
        8897.41000000
        0.000990444871
        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
        31296MTL3
        
          
        
        3629.07000000
        PA
        USD
        4114.59000000
        0.000458029310
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-09-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Chicago Board of Trade
        549300EX04Q2QBFQTQ27
        US LONG BOND(CBT) SEP20 XCBT 20200921
        000000000
        
          
        
        -330.00000000
        NC
        USD
        -368978.08000000
        -0.04107402570
        N/A
        DIR
        
        US
        N
        
        1
        
          
            
              Chicago Board of Trade
              549300EX04Q2QBFQTQ27
            
            Short
            
              
                US Treasury Long Bond
                USU0 Comdty
              
            
            2020-09-21
            -58525709.42000000
            USD
            -368978.08000000
          
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae II Pool
        36225DFS8
        
          
        
        542286.75000000
        PA
        USD
        558521.19000000
        0.062173649214
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2034-09-20
          Floating
          3.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        N/A
        Freddie Mac Gold Pool
        3128M9BZ4
        
          
        
        61741.21000000
        PA
        USD
        68942.72000000
        0.007674588835
        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
        36294SST5
        
          
        
        4938.18000000
        PA
        USD
        5809.49000000
        0.000646702756
        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
        3128LXAE0
        
          
        
        1159.85000000
        PA
        USD
        1261.56000000
        0.000140434759
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-04-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36291YK63
        
          
        
        6918.62000000
        PA
        USD
        8149.40000000
        0.000907177643
        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
        36290TRU5
        
          
        
        2890.97000000
        PA
        USD
        3371.71000000
        0.000375333145
        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
        31406PKU2
        
          
        
        104015.08000000
        PA
        USD
        108308.09000000
        0.012056676300
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-02-01
          Floating
          3.51000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36290TQQ5
        
          
        
        2023.89000000
        PA
        USD
        2252.65000000
        0.000250761248
        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
        36202S4V7
        
          
        
        8852.70000000
        PA
        USD
        10423.87000000
        0.001160367857
        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
        36212NPF8
        
          
        
        7516.74000000
        PA
        USD
        8836.59000000
        0.000983674490
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2035-05-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36200QXE9
        
          
        
        711.04000000
        PA
        USD
        815.89000000
        0.000090823516
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-01-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        912810SL3
        
          
        
        780000.00000000
        PA
        USD
        892734.38000000
        0.099377705228
        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
        3132GGHW8
        
          
        
        237899.07000000
        PA
        USD
        265637.41000000
        0.029570314328
        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
        36290TY45
        
          
        
        34683.48000000
        PA
        USD
        40777.38000000
        0.004539270067
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-12-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        9128285C0
        
          
        
        620000.00000000
        PA
        USD
        706315.63000000
        0.078625880271
        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
        36292M3D2
        
          
        
        1245.48000000
        PA
        USD
        1467.49000000
        0.000163358544
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2036-09-15
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        N/A
        Fannie Mae REMICS
        3136ABDT7
        
          
        
        1082316.78000000
        PA
        USD
        1368390.53000000
        0.152326956118
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2042-07-25
          Fixed
          7.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36200JM64
        
          
        
        2502.15000000
        PA
        USD
        2923.70000000
        0.000325461417
        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
        31413KBG5
        
          
        
        95393.28000000
        PA
        USD
        112487.13000000
        0.012521880077
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2037-10-01
          Fixed
          7.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31417NRH6
        
          
        
        7372.58000000
        PA
        USD
        8303.96000000
        0.000924383005
        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
        36294QAR2
        
          
        
        6163.95000000
        PA
        USD
        7235.17000000
        0.000805407081
        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
        31296MQZ5
        
          
        
        7982.59000000
        PA
        USD
        9050.89000000
        0.001007530009
        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
        31296K5H2
        
          
        
        51890.61000000
        PA
        USD
        58835.04000000
        0.006549418722
        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
        31292K2A4
        
          
        
        6585.93000000
        PA
        USD
        7335.00000000
        0.000816519990
        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
        3129382N2
        
          
        
        3651.07000000
        PA
        USD
        4091.55000000
        0.000455464535
        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
        36294PA60
        
          
        
        8440.68000000
        PA
        USD
        9873.09000000
        0.001099055945
        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
        36294N2K3
        
          
        
        1433.73000000
        PA
        USD
        1683.45000000
        0.000187398851
        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
        36294NMF2
        
          
        
        2615.07000000
        PA
        USD
        3072.56000000
        0.000342032264
        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
        3128MJMW7
        
          
        
        5739.35000000
        PA
        USD
        6431.77000000
        0.000715973930
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-11-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        3138AU5H6
        
          
        
        109752.20000000
        PA
        USD
        122539.75000000
        0.013640921003
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-10-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294RUN7
        
          
        
        10263.50000000
        PA
        USD
        12051.16000000
        0.001341515072
        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
        36291YKJ5
        
          
        
        3356.04000000
        PA
        USD
        3939.28000000
        0.000438514092
        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
        31296NA80
        
          
        
        76740.19000000
        PA
        USD
        87007.01000000
        0.009685475530
        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
        312938EM1
        
          
        
        21628.62000000
        PA
        USD
        24237.19000000
        0.002698043648
        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
        31296MQX0
        
          
        
        16701.33000000
        PA
        USD
        18936.44000000
        0.002107972981
        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
        3128LBBM9
        
          
        
        482.47000000
        PA
        USD
        540.64000000
        0.000060183144
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2038-05-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294T2L8
        
          
        
        6080.08000000
        PA
        USD
        7143.76000000
        0.000795231472
        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
        9128286C9
        
          
        
        71350000.00000000
        PA
        USD
        74042348.01000000
        8.242270937264
        Long
        DBT
        UST
        US
        N
        
        1
        
          2022-02-15
          Fixed
          2.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae I Pool
        36294T4B8
        
          
        
        16695.10000000
        PA
        USD
        19963.84000000
        0.002222341439
        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
        36294VCV0
        
          
        
        1357.82000000
        PA
        USD
        1598.39000000
        0.000177930114
        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
        36294QVQ1
        
          
        
        3384.03000000
        PA
        USD
        3942.98000000
        0.000438925970
        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
        36294TY74
        
          
        
        4108.04000000
        PA
        USD
        4823.37000000
        0.000536929519
        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
        312945ZL5
        
          
        
        3082.50000000
        PA
        USD
        3442.04000000
        0.000383162163
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-02-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
    
    
      
    
    
      2020-07-31
      GOLDMAN SACHS TRUST
      Peter Fortner
      Peter Fortner
      Vice President
    
  
  XXXX

GOLDMAN SACHS ENHANCED INCOME FUND

Schedule of Investments

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – 63.1%
Aerospace & Defense – 0.7%
General Dynamics Corp.
$	1,700,000		3.000	%	05/11/21	$ 1,739,049
	900,000		2.250	^(a)	11/15/22	934,002
Northrop Grumman Corp.
	1,188,000		3.500		03/15/21	1,212,817

						3,885,868

Agriculture – 0.9%
Altria Group, Inc.
	1,525,000		3.490		02/14/22	1,591,459
Archer-Daniels-Midland Co.^(a)
	750,000		3.375		03/15/22	784,628
	600,000		2.750		03/27/25	651,402
BAT Capital Corp.^(a)
	1,175,000		2.764		08/15/22	1,216,795
Cargill, Inc.^(b)
	500,000		1.375		07/23/23	508,075

						4,752,359

Apparel – 0.2%
NIKE, Inc.^(a)
	725,000		2.400		03/27/25	781,079
Ralph Lauren Corp.
	275,000		1.700		06/15/22	279,521

						1,060,600

Automotive – 3.4%
BMW US Capital LLC^(b)(c)(3M USD LIBOR + 0.370%)
	2,500,000		0.794		08/14/20	2,501,300
Daimler Finance North America LLC^(b)
	775,000		3.350		05/04/21	789,090
(3M USD LIBOR + 0.550%)
	800,000		1.106	^(c)	05/04/21	795,704
PACCAR Financial Corp.
	400,000		2.650		04/06/23	422,116
Toyota Motor Credit Corp.^(c) (3M USD LIBOR + 0.150%)
	8,000,000		0.524		08/21/20	7,986,080
Volkswagen Group of America Finance LLC^(b)
	1,025,000		2.900		05/13/22	1,058,066
(3M USD LIBOR + 0.770%)
	4,000,000		1.204	^(c)	11/13/20	4,001,680

						17,554,036


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Banks – 17.9%
ABN AMRO Bank NV^(b)
$	2,100,000		2.650	%	01/19/21	$ 2,126,019
	600,000		3.400		08/27/21	620,184
Banco Santander SA
	1,400,000		2.706		06/27/24	1,472,884
Bank of America Corp.^(a)(c)
(3M USD LIBOR + 0.630%)
	850,000		3.499		05/17/22	870,162
(3M USD LIBOR + 0.790%)
	4,125,000		3.004		12/20/23	4,332,694
(3M USD LIBOR + 0.940%)
	1,300,000		3.864		07/23/24	1,410,526
Bank of America NA^(a)(c) (3M USD LIBOR + 0.650%)
	500,000		3.335		01/25/23	521,710
Bank of Montreal
	750,000		2.050		11/01/22	774,780
Banque Federative du Credit Mutuel SA^(b)
	1,700,000		2.125		11/21/22	1,753,091
Barclays Bank PLC
	725,000		1.700	^(a)	05/12/22	738,014
(3M USD LIBOR + 0.400%)
	5,000,000		0.774	^(c)	08/21/20	4,983,300
BNP Paribas SA^(b)
	900,000		2.950		05/23/22	930,870
	1,375,000		3.500		03/01/23	1,455,781
BPCE SA
	1,725,000		2.650		02/03/21	1,745,269
Canadian Imperial Bank of Commerce
	1,175,000		0.950		06/23/23	1,179,312
CIT Group, Inc.^(a)
	75,000		4.750		02/16/24	75,750
Citigroup, Inc.^(a)
	4,575,000		2.750		04/25/22	4,742,491
	925,000		2.700		10/27/22	964,525
Citizens Bank NA^(a)
	1,200,000		3.250		02/14/22	1,244,532
	900,000		2.250		04/28/25	953,100
Cooperatieve Rabobank UA
	550,000		3.125		04/26/21	562,249
(3M USD LIBOR + 0.430%)
	450,000		1.421	^(c)	04/26/21	451,364
Credit Suisse AG
	825,000		2.800		04/08/22	855,913

GOLDMAN SACHS ENHANCED INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Banks – (continued)
Credit Suisse Group Funding Guernsey Ltd.
$	4,575,000		3.450	%	04/16/21	$ 4,682,878
Danske Bank A/S^(a)(b)
	1,175,000		1.226		06/22/24	1,177,679
Deutsche Bank AG
	2,075,000		2.700		07/13/20	2,075,602
Fifth Third Bancorp^(a)
	325,000		1.625		05/05/23	332,826
Fifth Third Bank NA^(a)
	1,125,000		1.800		01/30/23	1,154,689
First Horizon National Corp.^(a)
	1,000,000		3.550		05/26/23	1,029,990
ING Bank NV^(b)
	1,725,000		2.750		03/22/21	1,754,963
JPMorgan Chase & Co.^(a)(c)
(3M USD LIBOR + 0.610%)
	2,150,000		0.918		06/18/22	2,151,290
(3M USD LIBOR + 0.610%)
	1,900,000		3.514		06/18/22	1,951,148
(3M USD LIBOR + 0.695%)
	1,775,000		3.207		04/01/23	1,847,154
(SOFR + 1.455%)
	1,025,000		1.514		06/01/24	1,042,005
KeyBank NA
	675,000		2.400		06/09/22	698,240
	725,000		1.250		03/10/23	735,614
Lloyds Banking Group PLC^(a)(c) (1 Year CMT + 1.100%)
	1,200,000		1.326		06/15/23	1,206,600
Macquarie Bank Ltd.^(b)
	1,225,000		2.100		10/17/22	1,256,225
Mitsubishi UFJ Financial Group, Inc.
	1,000,000		2.623		07/18/22	1,038,320
	1,550,000		3.761		07/26/23	1,682,959
Morgan Stanley, Inc.
	450,000		2.500		04/21/21	457,610
	950,000		3.125		01/23/23	1,007,570
(3M USD LIBOR + 0.847%)
	1,125,000		3.737	^(a)(c)	04/24/24	1,212,626
(3M USD LIBOR + 1.180%)
	4,575,000		2.315	^(a)(c)	01/20/22	4,592,705
MUFG Union Bank NA^(a)
	1,325,000		3.150		04/01/22	1,380,809
	650,000		2.100		12/09/22	670,429


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Banks – (continued)
NatWest Markets PLC^(b)
$	2,000,000		3.625	%	09/29/22	$ 2,095,280
Royal Bank of Canada
	1,125,000		1.950		01/17/23	1,160,730
Royal Bank of Scotland Group PLC^(a)(c) (1 Year CMT + 2.150%)
	1,200,000		2.359		05/22/24	1,230,900
Santander UK PLC
	775,000		2.500		01/05/21	782,920
	950,000		2.100		01/13/23	979,659
Standard Chartered PLC^(a)(b)(c) (3M USD LIBOR + 1.150%)
	1,200,000		4.247		01/20/23	1,245,192
State Street Corp.^(a)(b)(c) (SOFR + 2.690%)
	450,000		2.825		03/30/23	466,686
The Huntington National Bank^(a)
	1,250,000		3.125		04/01/22	1,303,050
	1,050,000		1.800		02/03/23	1,080,481
Truist Bank^(a)
	1,700,000		1.250		03/09/23	1,724,361
(3M USD LIBOR + 0.500%)
	1,450,000		3.525	^(c)	10/26/21	1,463,572
UBS AG^(a)(b)
	1,475,000		1.750		04/21/22	1,502,494
UBS Group AG^(b)
	2,625,000		2.650		02/01/22	2,701,939
Wells Fargo & Co.
	925,000		2.625		07/22/22	962,342
(SOFR + 1.600%)
	3,125,000		1.654	^(a)(c)	06/02/24	3,172,969
Westpac Banking Corp.
	650,000		2.000		01/13/23	672,477

						92,449,503

Beverages – 1.9%
Anheuser-Busch InBev Finance, Inc.^(a)
	3,425,000		3.300		02/01/23	3,645,467
Constellation Brands, Inc.^(a)
	975,000		2.700		05/09/22	1,009,661
	1,950,000		3.200		02/15/23	2,065,401
Keurig Dr Pepper, Inc.^(a)
	2,250,000		4.057		05/25/23	2,449,350

GOLDMAN SACHS ENHANCED INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Beverages – (continued)
The Coca-Cola Co.
$	525,000		2.950	%	03/25/25	$ 577,180

						9,747,059

Building Materials^(a)(b) – 0.5%
Carrier Global Corp.
	2,400,000		1.923		02/15/23	2,448,984

Chemicals – 0.4%
Celanese US Holdings LLC^(a)
	350,000		3.500		05/08/24	370,065
Syngenta Finance NV^(b)
	1,485,000		3.933		04/23/21	1,494,073
The Sherwin-Williams Co.^(a)
	64,000		2.750		06/01/22	65,905

						1,930,043

Commercial Services – 1.3%
Global Payments, Inc.^(a)
	1,150,000		3.750		06/01/23	1,238,124
IHS Markit Ltd.^(a)
	2,223,000		5.000	^(b)	11/01/22	2,386,146
	475,000		3.625		05/01/24	508,735
PayPal Holdings, Inc.
	1,800,000		2.200		09/26/22	1,863,090
	775,000		1.350		06/01/23	789,694

						6,785,789

Computers – 1.9%
Apple, Inc.
	800,000		0.750		05/11/23	807,480
Dell International LLC/EMC Corp.^(a)(b)
	1,175,000		4.420		06/15/21	1,206,690
	3,300,000		5.450		06/15/23	3,610,860
Hewlett Packard Enterprise Co.^(a)
	1,400,000		2.250		04/01/23	1,442,686
	2,175,000		4.450		10/02/23	2,377,079
	325,000		4.650		10/01/24	364,861

						9,809,656


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Cosmetics/Personal Care – 0.0%
The Procter & Gamble Co.
$	175,000		2.450	%	03/25/25	$ 189,938

Diversified Financial Services – 3.2%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust^(a)
	725,000		4.450		12/16/21	732,178
	1,500,000		4.125		07/03/23	1,466,160
AIG Global Funding^(b)
	675,000		2.150		07/02/20	675,000
	675,000		3.350		06/25/21	693,104
	525,000		0.826		07/07/23	525,021
(3M USD LIBOR + 0.460%)
	525,000		0.757	^(c)	06/25/21	525,872
Air Lease Corp.
	1,425,000		3.500		01/15/22	1,435,602
	500,000		2.250		01/15/23	493,585
	1,150,000		2.750	^(a)	01/15/23	1,136,752
	825,000		2.300	^(a)	02/01/25	788,312
American Express Co.^(a)
	1,350,000		3.375		05/17/21	1,380,928
Avolon Holdings Funding Ltd.^(a)(b)
	1,550,000		3.625		05/01/22	1,460,487
	675,000		2.875		02/15/25	568,505
Capital One Financial Corp.^(a)
	1,600,000		3.450		04/30/21	1,633,840
	725,000		2.600		05/11/23	757,516
(3M USD LIBOR + 0.720%)
	1,300,000		1.480	^(c)	01/30/23	1,273,935
The Charles Schwab Corp.^(a)
	1,125,000		3.250		05/21/21	1,151,550
USAA Capital Corp.^(b)
	150,000		1.500		05/01/23	153,828

						16,852,175

Electrical – 4.3%
American Electric Power Co., Inc.
	1,475,000		2.150		11/13/20	1,484,204
Avangrid, Inc.^(a)
	650,000		3.200		04/15/25	710,262

GOLDMAN SACHS ENHANCED INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


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	$ 742,683
CenterPoint Energy, Inc.^(a)
	1,850,000		2.500		09/01/22	1,912,178
Dominion Energy, Inc.
	2,700,000		2.715	^(d)	08/15/21	2,756,457
	1,200,000		2.450	^(b)	01/15/23	1,244,688
DTE Energy Co.
	475,000		2.600		06/15/22	491,036
FirstEnergy Corp.^(a)
	400,000		2.050		03/01/25	414,180
Florida Power & Light Co.^(a)
	375,000		2.850		04/01/25	411,030
Georgia Power Co.
	1,000,000		2.100		07/30/23	1,040,610
NextEra Energy Capital Holdings, Inc.
	925,000		3.342		09/01/20	929,190
	1,200,000		2.900		04/01/22	1,248,048
NRG Energy, Inc.^(a)(b)
	1,225,000		3.750		06/15/24	1,296,479
Pacific Gas and Electric Co.^(a)
	1,250,000		1.750		06/16/22	1,251,925
Public Service Enterprise Group, Inc.^(a)
	675,000		2.875		06/15/24	721,433
Sempra Energy^(a)(c)(3M USD LIBOR + 0.500%)
	1,700,000		1.719		01/15/21	1,699,915
Southern Power Co.^(a)
	1,150,000		2.500		12/15/21	1,178,658
Vistra Operations Co. LLC^(a)(b)
	875,000		3.550		07/15/24	896,875
WEC Energy Group, Inc.
	1,400,000		3.375		06/15/21	1,439,424
	525,000		3.100		03/08/22	546,221

						22,415,496

Food & Drug Retailing – 0.9%
General Mills, Inc.^(c) (3M USD LIBOR + 0.540%)
	1,350,000		1.716		04/16/21	1,352,768
Mondelez International Holdings Netherlands B.V.^(b)
	775,000		2.125		09/19/22	798,676


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Food & Drug Retailing – (continued)
Mondelez International, Inc.^(a)
$	525,000		1.500	%	05/04/25	$ 534,896
Nestle Holdings, Inc.^(a)(b)
	1,200,000		3.100		09/24/21	1,236,900
Sysco Corp.^(a)
	625,000		2.600		10/01/20	626,744

						4,549,984

Gas^(a) – 0.3%
NiSource, Inc.
	1,075,000		2.650		11/17/22	1,122,558
The East Ohio Gas Co.^(b)
	250,000		1.300		06/15/25	251,628

						1,374,186

Healthcare Providers & Services – 0.8%
DH Europe Finance II S.a.r.l.
	1,000,000		2.050		11/15/22	1,032,620
Humana, Inc.
	1,550,000		2.500		12/15/20	1,563,408
UnitedHealth Group, Inc.
	1,500,000		1.950		10/15/20	1,506,825

						4,102,853

Insurance – 1.8%
Equitable Financial Life Global Funding^(b)
	700,000		1.400		07/07/25	700,924
Marsh & McLennan Cos., Inc.
	1,675,000		3.500		12/29/20	1,699,740
Metropolitan Life Global Funding I^(b)
	1,625,000		3.375		01/11/22	1,695,168
	575,000		1.950		01/13/23	594,182
	600,000		0.900		06/08/23	603,636
New York Life Global Funding^(b)
	1,200,000		1.100		05/05/23	1,219,308
Protective Life Global Funding^(b)
	675,000		1.082		06/09/23	678,989
Reliance Standard Life Global Funding II^(b)
	1,600,000		2.625		07/22/22	1,644,224
	275,000		2.150		01/21/23	280,896

						9,117,067

GOLDMAN SACHS ENHANCED INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Internet – 1.2%
Amazon.com, Inc.
$	1,825,000		1.900	%	08/21/20	$ 1,828,833
	1,300,000		0.400		06/03/23	1,299,350
TD Ameritrade Holding Corp.^(a)(c) (3M USD LIBOR + 0.430%)
	2,950,000		1.117		11/01/21	2,942,064

						6,070,247

Iron/Steel^(a) – 0.2%
Steel Dynamics, Inc.
	1,240,000		2.400		06/15/25	1,274,621

Machinery-Diversified – 0.4%
John Deere Capital Corp.
	300,000		3.200		01/10/22	312,378
	400,000		1.200		04/06/23	407,476
Otis Worldwide Corp.^(a)(b)(c) (3M USD LIBOR + 0.450%)
	1,525,000		2.088		04/05/23	1,506,990

						2,226,844

Media – 2.7%
Charter Communications Operating LLC/Charter Communications Operating Capital^(a)
	4,525,000		4.464		07/23/22	4,826,003
Comcast Corp.^(c) (3M USD LIBOR + 0.330%)
	1,550,000		0.626		10/01/20	1,550,604
Fox Corp.
	2,475,000		3.666		01/25/22	2,589,914
Sky Ltd.^(b)
	1,550,000		3.125		11/26/22	1,647,557
The Walt Disney Co.
	825,000		3.350		03/24/25	915,412
Time Warner Cable LLC^(a)
	1,024,000		4.000		09/01/21	1,051,218
Time Warner Entertainment Co. LP
	1,000,000		8.375		03/15/23	1,181,820

						13,762,528

Mining^(a)(b) – 0.2%
Glencore Funding LLC
	1,175,000		3.000		10/27/22	1,208,770


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Miscellaneous Manufacturing – 0.2%
Trane Technologies Global Holding Co. Ltd.
$	1,300,000		2.900	%	02/21/21	$ 1,316,432

Oil Field Services – 2.6%
BP Capital Markets America, Inc.
	1,025,000		2.937		04/06/23	1,084,676
BP Capital Markets PLC
	2,550,000		3.561		11/01/21	2,647,588
Canadian Natural Resources Ltd.^(a)
	825,000		2.050		07/15/25	826,469
Chevron Corp.
	950,000		1.141		05/11/23	966,397
Exxon Mobil Corp.^(a)
	900,000		2.992		03/19/25	977,661
Newfield Exploration Co.
	1,250,000		5.750		01/30/22	1,250,975
Occidental Petroleum Corp.
	1,700,000		2.600		08/13/21	1,663,501
(3M USD LIBOR + 1.450%)
	1,950,000		1.842	^(a)(c)	08/15/22	1,772,706
Schlumberger Finance Canada Ltd.^(b)
	850,000		2.200		11/20/20	854,369
Suncor Energy, Inc.
	1,175,000		2.800		05/15/23	1,226,829

						13,271,171

Pharmaceuticals – 4.7%
AbbVie, Inc.
	1,225,000		3.375		11/14/21	1,269,198
	2,350,000		2.150	^(b)	11/19/21	2,395,002
	1,975,000		2.300	^(b)	11/21/22	2,043,078
Bayer US Finance II LLC^(a)(b)(c) (3M USD LIBOR + 0.630%)
	2,225,000		0.927		06/25/21	2,225,579
Becton Dickinson & Co.^(a)
	1,425,000		2.894		06/06/22	1,475,303
(3M USD LIBOR + 0.875%)
	2,025,000		1.181	^(c)	12/29/20	2,023,157
Bristol-Myers Squibb Co.^(b)
	1,175,000		2.550		05/14/21	1,197,572
	1,325,000		2.600		05/16/22	1,376,092

GOLDMAN SACHS ENHANCED INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Pharmaceuticals – (continued)
Cigna Corp.
$	1,275,000		3.200	%	09/17/20	$ 1,282,025
	2,900,000		3.400		09/17/21	2,995,903
CVS Health Corp.^(a)
	2,200,000		2.125		06/01/21	2,228,182
	2,276,000		3.700		03/09/23	2,442,535
	1,325,000		4.000		12/05/23	1,454,863

						24,408,489

Pipelines^(a) – 2.4%
Energy Transfer Operating LP
	1,150,000		5.200		02/01/22	1,205,108
Kinder Morgan Energy Partners LP
	2,275,000		3.950		09/01/22	2,399,715
MPLX LP
	974,000		4.500		07/15/23	1,047,498
(3M USD LIBOR + 0.900%)
	725,000		1.213	^(c)	09/09/21	718,134
(3M USD LIBOR + 1.100%)
	1,050,000		1.413	^(c)	09/09/22	1,034,355
Plains All American Pipeline LP/PAA Finance Corp.
	1,250,000		3.650		06/01/22	1,276,675
Sabine Pass Liquefaction LLC
	2,300,000		6.250		03/15/22	2,450,351
Sunoco Logistics Partners Operations LP
	1,222,000		4.400		04/01/21	1,245,560
The Williams Cos., Inc.
	950,000		3.600		03/15/22	986,243

						12,363,639

Pipelines^(a) – 0.4%
Kinder Morgan, Inc.^(b)
	700,000		5.625		11/15/23	790,419
The Williams Cos., Inc.
	1,100,000		3.700		01/15/23	1,163,129

						1,953,548

Real Estate Investment Trust – 0.8%
American Tower Corp.
	1,125,000		3.300	^(a)	02/15/21	1,144,991
	1,125,000		3.500		01/31/23	1,201,905


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Real Estate Investment Trust – (continued)
Crown Castle International Corp.
$	1,075,000		5.250	%	01/15/23	$ 1,191,776
	700,000		1.350	^(a)	07/15/25	703,983

						4,242,655

Retailing – 0.2%
Starbucks Corp.
	300,000		1.300		05/07/22	303,999
The Home Depot, Inc.
	550,000		3.250		03/01/22	577,346

						881,345

Savings & Loans^(b) – 0.5%
Nationwide Building Society
	1,325,000		2.000		01/27/23	1,363,584
(3M USD LIBOR + 1.181%)
	1,175,000		3.622	^(a)(c)	04/26/23	1,221,189

						2,584,773

Semiconductors – 1.9%
Broadcom Corp./Broadcom Cayman Finance Ltd.^(a)
	1,550,000		3.000		01/15/22	1,590,688
Broadcom, Inc.^(b)
	1,600,000		3.125		04/15/21	1,626,368
	3,125,000		3.125		10/15/22	3,254,594
	1,475,000		3.625	^(a)	10/15/24	1,602,764
	1,125,000		4.700	^(a)	04/15/25	1,266,761
NXP B.V./NXP Funding LLC^(a)(b)
	275,000		2.700		05/01/25	288,912

						9,630,087

Software – 1.4%
Adobe, Inc.
	450,000		1.700		02/01/23	466,614
Fiserv, Inc.^(a)
	825,000		3.800		10/01/23	901,213
	2,025,000		2.750		07/01/24	2,160,877
Infor, Inc.^(a)(b)
	1,225,000		1.450		07/15/23	1,232,387
Intuit, Inc.
	450,000		0.650		07/15/23	450,932
	500,000		0.950	^(a)	07/15/25	501,135

GOLDMAN SACHS ENHANCED INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Software – (continued)
Oracle Corp.^(a)
$	1,400,000		2.500	%	04/01/25	$ 1,500,856

						7,214,014

Telecommunication Services – 2.5%
AT&T, Inc.
	1,625,000		3.000		02/15/22	1,692,048
	1,174,000		3.200	^(a)	03/01/22	1,224,787
	1,075,000		3.000	^(a)	06/30/22	1,123,407
	300,000		4.050		12/15/23	332,676
	275,000		4.450	^(a)	04/01/24	308,099
	150,000		3.550	^(a)	06/01/24	164,016
(3M USD LIBOR + 0.950%)
	1,245,000		2.169	^(c)	07/15/21	1,254,699
T-Mobile USA, Inc.^(a)(b)
	2,250,000		3.500		04/15/25	2,453,985
Verizon Communications, Inc.
	4,375,000		2.946		03/15/22	4,561,025

						13,114,742

Transportation^(a) – 0.4%
Ryder System, Inc.
	875,000		2.875		06/01/22	908,031
United Parcel Service, Inc.
	1,000,000		3.900		04/01/25	1,135,350

						2,043,381

TOTAL CORPORATE OBLIGATIONS (Cost $319,819,604)						$326,592,882



Agency Debenture^(c) – 1.7%
Federal Farm Credit Banks Funding Corp. (SOFR + 0.380%)
$	8,900,000		0.460	%	05/08/23	$ 8,923,318
(Cost $8,900,000)



Asset-Backed Securities – 12.2%
Automotive – 3.8%
Ally Master Owner Trust Series 2018-1, Class A2
$	5,900,000		2.700	%	01/17/23	$ 5,951,198
Ford Credit Auto Owner Trust Series 2016-2, Class A^(b)
	500,000		2.030		12/15/27	505,890
Ford Credit Floorplan Master Owner Trust Series 2017-2, Class A1
	5,200,000		2.160		09/15/22	5,212,223


Principal Amount		Interest Rate			Maturity Date	Value

Asset-Backed Securities – (continued)
Automotive – (continued)
Ford Credit Floorplan Master Owner Trust Series 2018-3, Class A1
$	3,250,000		3.520	%	10/15/23	$ 3,345,492
NextGear Floorplan Master Owner Trust Series 2018-1A, Class A1^(b)(c) (1M USD LIBOR + 0.640%)
	1,750,000		0.825		02/15/23	1,731,785
Nissan Master Owner Receivables Trust Series 2017-C, Class A^(c) (1M USD LIBOR + 0.320%)
	3,100,000		0.505		10/17/22	3,098,024

						19,844,612

Credit Card – 4.0%
American Express Credit Account Master Trust Series 2019-2, Class A
	2,050,000		2.670		11/15/24	2,133,523
Capital One Multi-Asset Execution Trust Series 2016-A5, Class A5
	2,100,000		1.660		06/17/24	2,129,793
Evergreen Credit Card Trust Series 2019-1, Class A^(b)(c) (1M USD LIBOR + 0.480%)
	6,300,000		0.665		01/15/23	6,306,254
Evergreen Credit Card Trust Series 2019-2, Class A^(b)
	2,900,000		1.900		09/15/24	2,903,315
Master Credit Card Trust II Series 2020-1A, Class A^(b)
	3,600,000		1.990		09/21/24	3,706,797
Trillium Credit Card Trust II Series 2019-2A, Class A^(b)
	3,450,000		3.038		01/26/24	3,496,344

						20,676,026

Home Equity^(c) – 0.0%
Centex Home Equity Loan Trust Series 2004-D, Class MV3 (1M USD LIBOR + 1.000%)
	48,934		1.185		09/25/34	46,635
Morgan Stanley ABS Capital I, Inc. Trust Series 2004-HE4, Class M3 (1M USD LIBOR + 2.250%)
	3,067		2.435		05/25/34	3,091

						49,726

Student Loan^(c) – 4.4%
Access Group, Inc. Series 2013-1, Class A^(b) (1M USD LIBOR + 0.500%)
	1,017,703		0.685		02/25/36	987,353
ECMC Group Student Loan Trust Series 2017-1A, Class A^(b) (1M USD LIBOR + 1.200%)
	2,590,919		1.385		12/27/66	2,539,287
Education Loan Asset-Backed Trust I Series 2013-1, Class A1^(b) (1M USD LIBOR + 0.800%)
	238,671		0.985		06/25/26	238,059

GOLDMAN SACHS ENHANCED INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Asset-Backed Securities – (continued)
Student Loan^(c) – (continued)
Educational Services of America, Inc. Series 2014-1, Class A^(b) (1M USD LIBOR + 0.700%)
$	1,114,731		0.885	%	02/25/39	$ 1,067,944
GCO Education Loan Funding Master Trust II Series 2007-1A, Class A6L^{(b )}(3M LIBOR + 0.110%)
	194,954		0.470		11/25/26	194,954
Illinois Student Assistance Commission Series 2010-1, Class A3 (3M USD LIBOR + 0.900%)
	1,134,295		1.891		07/25/45	1,101,465
Navient Student Loan Trust Series 2016-7A, Class A^(b)(1M USD LIBOR + 1.150%)
	956,386		1.335		03/25/66	933,554
Navient Student Loan Trust Series 2017-2A, Class A^(b) (1M USD LIBOR + 1.050%)
	2,458,678		1.235		12/27/66	2,383,858
Nelnet Student Loan Trust Series 2012-3A, Class A^(b) (1M USD LIBOR + 0.700%)
	3,214,142		0.885		02/25/45	3,114,236
Northstar Education Finance, Inc. Series 2012-1, Class A^(b) (1M USD LIBOR + 0.700%)
	716,520		0.885		12/26/31	679,345
PHEAA Student Loan Trust Series 2014-3A, Class A^(b) (1M USD LIBOR + 0.590%)
	4,799,726		0.775		08/25/40	4,527,728
SLC Student Loan Center Series 2011-1, Class A^(b) (1M USD LIBOR + 1.220%)
	2,403,539		1.405		10/25/27	2,392,552
SLM Student Loan Trust Series 2007-1, Class A5 (3M USD LIBOR + 0.090%)
	1,401,704		1.081		01/26/26	1,389,991
South Texas Higher Education Authority, Inc. Series 2012-1, Class A2 (3M USD LIBOR + 0.850%)
	189,161		2.283		10/01/24	185,611
Utah State Board of Regents Series 2011-1, Class A3 (3M USD LIBOR + 0.850%)
	1,100,000		1.537		05/01/35	1,061,259

						22,797,196

TOTAL ASSET-BACKED SECURITIES (Cost $63,682,205)						$ 63,367,560



Municipal Debt Obligation^(a)(c) – 0.1%
Utah – 0.1%
Utah State Board of Regents Student Loan RB (Taxable) Series 2011, Class A2 (3M USD LIBOR + 0.000%)
$	263,874		1.540	%	05/01/29	$ 260,848
(Cost $264,267)


Principal Amount		Interest Rate			Maturity Date	Value

U.S. Treasury Obligations – 3.7%
United States Treasury Inflation Indexed Note
$	5,687,316		0.125	%	07/15/22	$ 5,822,283
United States Treasury Notes
	155,000		1.375		04/30/21	156,544
	210,000		2.875		10/15/21	217,309
	12,060,000		2.875	^(e)	10/31/23	13,134,094

TOTAL U.S. TREASURY OBLIGATIONS (Cost $18,649,158)						$ 19,330,230


Shares		Dividend Rate				Value

Investment Companies^(f) – 14.1%
Goldman Sachs Financial Square Government Fund - Institutional Shares
	72,775,032		0.155%			$ 72,775,032
Goldman Sachs Financial Square Money Market Fund - Institutional Shares
	9,091		0.280			9,102

TOTAL INVESTMENT COMPANIES (Cost $72,784,116)						$ 72,784,134

TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENT (Cost $484,099,350)						$491,258,972


Principal Amount		Interest Rate			Maturity Date	Value

Short-term Investments – 3.4%
Certificates of Deposit^(c) – 3.0%
Bayerische Landesbank (3M USD LIBOR + 0.470%)
$	3,000,000		1.026	%	02/03/22	$ 2,993,831
Credit Agricole Corporate & Investment Bank (3M USD LIBOR + 0.480%)
	3,000,000		0.790		09/10/21	3,008,208
Nordea Bank AB NY (3M USD LIBOR + 0.320%)
	2,270,000		0.861		05/05/21	2,274,399
Standard Chartered Bank (3M USD LIBOR + 0.420%)
	3,000,000		0.728		09/18/20	3,003,053
Sumitomo Mitsui Banking Corp. (3M USD LIBOR + 0.350%)
	4,190,000		1.526		07/16/21	4,196,508

						15,475,999

Commercial Paper^(g) – 0.4%
NatWest Markets PLC
	2,000,000		0.000		07/17/20	1,999,927

TOTAL SHORT-TERM INVESTMENTS (Cost $17,455,981)						$ 17,475,926

TOTAL INVESTMENTS – 98.3% (Cost $501,555,331)						$508,734,898

OTHER ASSETS IN EXCESS OF LIABILITIES – 1.7%						8,625,422

NET ASSETS – 100.0%						$517,360,320

GOLDMAN SACHS ENHANCED INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)



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

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

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

(c)		Variable rate security. Except for floating rate notes (for which final maturity is disclosed), maturity date disclosed is the next interest reset date. Interest rate disclosed is that which is in effect on June 30, 2020.

(d)		Coupon changes periodically based upon a predetermined schedule. Interest rate disclosed is that which is in effect on June 30, 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:
CMT		— Constant Maturity Treasury Indexes
LIBOR		— London Interbank Offered Rate
LLC		— Limited Liability Company
LP		— Limited Partnership
PLC		— Public Limited Company
RB		— Revenue Bond
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)

June 30, 2020 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FUTURES CONTRACTS — At June 30, 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	265	09/30/20	$	58,519,453		$	13,284

Short position contracts:
Eurodollars	(167)	12/14/20		(41,628,925	)		(1,015,024	)
Eurodollars	(143)	03/15/21		(35,678,500	)		(951,632	)
5 Year U.S. Treasury Notes	(671)	09/30/20		(84,373,008	)		(215,897	)

Total						$	(2,182,553	)

TOTAL FUTURES CONTRACTS						$	(2,169,269	)

GOLDMAN SACHS GOVERNMENT INCOME FUND

Schedule of Investments

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – 56.7%
Collateralized Mortgage Obligations – 1.4%
Interest Only^(a) – 0.0%
FNMA STRIPS Series 151, Class 2
$	75		9.500	%	07/25/22	$ 4

Inverse Floaters^(b) – 0.0%
GNMA REMIC Series 2002-13, Class SB(-1x1M USD LIBOR + 37.567%)
	13,398		36.656		02/16/32	19,057

Regular Floater^(b) – 0.4%
NCUA Guaranteed Notes Trust Series 2010-R1, Class 1A(1M LIBOR + 0.450%)
	418,466		0.624		10/07/20	416,714
NCUA Guaranteed Notes Trust Series 2010-R2, Class 2A(1M LIBOR + 0.470%)
	1,033,906		0.644		11/05/20	1,028,245

						1,444,959

Sequential Fixed Rate – 0.9%
FHLMC REMIC Series 2329, Class ZA
	287,336		6.500		06/15/31	328,791
FHLMC REMIC Series 4246, Class PT
	91,744		6.500		02/15/36	109,359
FHLMC REMIC Series 4273, Class PD
	494,433		6.500		11/15/43	600,738
FNMA REMIC Series 2011-52, Class GB
	474,348		5.000		06/25/41	545,062
FNMA REMIC Series 2011-99, Class DB
	467,140		5.000		10/25/41	535,402
FNMA REMIC Series 2012-111, Class B
	56,554		7.000		10/25/42	69,953
FNMA REMIC Series 2012-153, Class B
	255,454		7.000		07/25/42	322,974
GNMA REMIC Series 2002-42, Class KZ
	761,290		6.000		06/16/32	856,494

						3,368,773

Sequential Floating Rate^(b) – 0.1%
Angel Oak Mortgage Trust I LLC Series 2018-2, Class A1^(c)
	406,227		3.674		07/27/48	413,445
FHLMC REMIC Series 1760, Class ZB(10 Year CMT - 0.600%)
	32,975		0.070		05/15/24	32,622


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Sequential Floating Rate^(b) – (continued)
Merrill Lynch Mortgage Investors Trust Series 2004-E, Class A2B(6M USD LIBOR + 0.720%)
$	123,747		1.693	%	11/25/29	$ 113,669

						559,736

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS						$ 5,392,529

Commercial Mortgage-Backed Securities – 0.4%
Sequential Fixed Rate – 0.4%
BANK Series 2019-BN24, Class A3
$	1,400,000		2.960	%	11/15/62	$ 1,550,317

Federal Agencies – 54.9%
Adjustable Rate FHLMC^(b) – 0.1%
(1 Year CMT + 2.224%)
$	3,592		3.974	%	11/01/32	$ 3,767
(1 Year CMT + 2.250%)
	256,807		4.322		09/01/33	267,214

						270,981

Adjustable Rate FNMA^(b) – 0.3%
(12M USD LIBOR + 1.670%)
	17,289		3.670		11/01/32	18,000
(12M USD LIBOR + 1.591%)
	32,323		3.591		12/01/32	33,640
(6M USD LIBOR + 1.413%)
	335,879		2.538		05/01/33	345,136
(1 Year CMT + 2.223%)
	9,187		3.228		06/01/33	9,625
(12M USD LIBOR + 1.656%)
	320,166		3.715		10/01/33	333,084
(1 Year CMT + 2.196%)
	193,627		3.851		02/01/35	203,280
(12M USD LIBOR + 1.531%)
	254,127		3.750		09/01/35	264,037

						1,206,802

Adjustable Rate GNMA^(b) – 0.3%
(1 Year CMT + 1.500%)
	15,201		3.875		06/20/23	15,454
	7,632		3.250		07/20/23	7,770
	7,644		3.250		08/20/23	7,785
	16,670		3.250		09/20/23	16,923
	5,944		3.000		03/20/24	6,057
	54,692		3.875		04/20/24	55,791
	7,541		3.875		05/20/24	7,713
	61,797		3.875		06/20/24	63,006
	37,524		3.250		07/20/24	38,218
	52,001		3.250		08/20/24	52,945
	16,059		3.250		09/20/24	16,339
	21,607		3.125		11/20/24	22,079
	23,744		3.125		12/20/24	24,366
	14,298		3.000		01/20/25	14,626

GOLDMAN SACHS GOVERNMENT INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Adjustable Rate GNMA^(b) – (continued)
(1 Year CMT + 1.500%) – (continued)
$	8,849		3.000	%	02/20/25	$ 9,057
	33,734		3.875		05/20/25	34,545
	26,975		3.250		07/20/25	27,598
	12,219		3.000		02/20/26	12,504
	612		3.250		07/20/26	625
	30,734		3.000		01/20/27	31,533
	12,573		3.000		02/20/27	12,885
	101,009		3.875		04/20/27	103,468
	10,165		3.875		05/20/27	10,417
	14,634		3.875		06/20/27	14,994
	5,457		3.125		11/20/27	5,593
	15,913		3.125		12/20/27	16,316
	36,507		3.000		01/20/28	37,463
	11,364		3.000		02/20/28	11,663
	13,339		3.000		03/20/28	13,697
	55,267		3.250		07/20/29	56,631
	36,561		3.250		08/20/29	37,484
	6,848		3.250		09/20/29	7,022
	30,242		3.125		10/20/29	31,069
	44,974		3.125		11/20/29	46,221
	8,341		3.125		12/20/29	8,571
	11,706		3.000		01/20/30	12,043
	5,158		3.000		02/20/30	5,307
	35,917		3.000		03/20/30	36,978
	36,107		3.875		04/20/30	37,123
	97,095		3.875		05/20/30	100,134
	10,464		3.875		06/20/30	10,760
	85,078		3.250		07/20/30	88,070
	17,249		3.250		09/20/30	17,861
	27,395		3.125		10/20/30	28,190
	50,632		3.000		03/20/32	52,205

						1,267,099

FHLMC – 1.2%
	2,724		6.500		07/01/21	2,777
	470		6.500		08/01/22	487
	10,244		9.000		10/01/22	10,314
	33,231		4.500		10/01/23	34,519
	144,291		5.000		08/01/24	150,913
	17,270		6.500		07/01/28	18,386
	243,709		4.500		03/01/29	267,296
	3,589		8.000		07/01/30	3,969
	11,200		5.000		08/01/33	12,847
	2,199		5.000		09/01/33	2,523
	4,347		5.000		10/01/33	4,987
	2,853		5.000		11/01/34	3,286
	160,644		5.000		12/01/34	184,984
	7,859		5.000		07/01/35	9,049
	717		5.000		11/01/35	822
	15,681		5.000		12/01/35	18,025
	23,582		5.000		02/01/37	26,985
	1,881		5.000		03/01/38	2,153
	82,755		5.000		07/01/39	94,740
	12,939		4.000		06/01/40	14,218
	5,501		5.000		08/01/40	6,283
	1,668		4.500		11/01/40	1,857
	115,971		4.000		02/01/41	127,248
	1,263		5.000		04/01/41	1,441
	5,662		5.000		06/01/41	6,459
	203,030		5.000		07/01/41	231,612
	7,909		4.000		11/01/41	8,656


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
FHLMC – (continued)
$	11,449		3.000	%	05/01/42	$ 12,242
	14,319		3.000		08/01/42	15,310
	14,883		3.000		01/01/43	15,943
	58,904		3.000		02/01/43	63,274
	1,418,751		4.000		03/01/48	1,512,150
	1,628,273		4.000		04/01/48	1,721,441

						4,587,196

FNMA – 0.1%
	3,373		6.500		11/01/28	3,742
	32,873		7.000		07/01/31	39,394
	338,673		5.500		07/01/33	393,225

						436,361

GNMA – 22.6%
	30,467		7.000		12/15/27	33,982
	11,134		6.500		08/15/28	12,461
	69,781		6.000		01/15/29	78,588
	85,580		7.000		10/15/29	96,290
	30,990		5.500		11/15/32	35,232
	521,463		5.500		12/15/32	602,337
	19,726		5.500		01/15/33	22,552
	39,179		5.500		02/15/33	45,284
	43,215		5.500		03/15/33	49,870
	44,616		5.500		07/15/33	51,208
	17,028		5.500		08/15/33	19,385
	10,007		5.500		09/15/33	11,352
	21,924		5.500		04/15/34	24,909
	8,897		5.500		05/15/34	9,764
	260,176		5.500		06/15/34	302,818
	192,433		5.500		09/15/34	224,169
	187,654		5.500		12/15/34	218,283
	138,914		5.500		01/15/35	162,347
	78,677		5.000		03/15/38	89,115
	1,472		5.000		11/15/38	1,696
	6,392		4.000		02/20/41	7,024
	9,810		4.000		11/20/41	10,767
	1,613		4.000		01/20/42	1,771
	5,209		4.000		04/20/42	5,709
	3,030		4.000		10/20/42	3,321
	380,423		4.000		08/20/43	414,941
	5,324		4.000		03/20/44	5,797
	6,396		4.000		05/20/44	6,964
	441,632		4.000		11/20/44	479,909
	1,971,811		4.000		06/20/45	2,137,783
	495,826		4.000		01/20/46	535,701
	488,950		4.500		02/20/48	529,102
	2,254,965		4.500		05/20/48	2,433,796
	1,228,072		4.500		08/20/48	1,321,052
	306,954		5.000		08/20/48	335,113
	8,599,713		4.500		09/20/48	9,246,784
	2,588,900		5.000		10/20/48	2,821,947
	1,532,298		5.000		11/20/48	1,667,958
	2,970,679		5.000		12/20/48	3,229,274
	3,490,686		5.000		01/20/49	3,791,274
	3,746,065		4.000		02/20/49	3,983,825
	1,460,707		4.000		03/20/49	1,552,390
	370,150		4.500		03/20/49	395,832
	2,898,202		5.000		03/20/49	3,144,600
	1,486,391		4.000		05/20/49	1,576,086

GOLDMAN SACHS GOVERNMENT INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
GNMA – (continued)
$	431,665		4.500	%	05/20/49	$ 461,346
	1,528,943		5.000		05/20/49	1,657,736
	30,000,000		2.500		TBA-30yr^(d)	31,564,089
	10,000,000		4.500		TBA-30yr^(d)	10,678,352

						86,091,885

UMBS – 8.3%
	50,543		5.500		02/01/23	52,657
	73,430		5.000		06/01/23	80,246
	611,590		5.000		08/01/23	637,677
	102,164		5.500		08/01/23	107,188
	1,153		4.500		07/01/36	1,278
	1,873		4.500		04/01/39	2,098
	8,033		4.500		05/01/39	9,048
	3,693		4.000		08/01/39	4,058
	15,933		4.500		08/01/39	17,946
	298,869		4.500		12/01/39	336,625
	14,339		4.500		01/01/41	15,965
	106,242		4.500		05/01/41	118,621
	93,505		4.500		08/01/41	103,711
	97,833		4.500		08/01/42	109,673
	14,873		3.000		11/01/42	16,248
	158,812		3.000		12/01/42	173,610
	398,696		3.000		01/01/43	435,935
	70,228		3.000		02/01/43	76,788
	472,025		3.000		03/01/43	516,112
	770,715		3.000		04/01/43	842,700
	519,951		3.000		05/01/43	568,516
	93,768		3.000		06/01/43	102,585
	801,422		3.000		07/01/43	876,777
	1,455,666		4.500		10/01/44	1,610,917
	950,805		4.500		04/01/45	1,076,269
	105,784		4.500		05/01/45	119,743
	578,231		4.500		06/01/45	639,901
	520,258		4.000		11/01/45	565,358
	177,514		4.000		03/01/46	191,996
	14,309		4.500		05/01/46	15,464
	111,260		4.000		06/01/46	119,878
	28,331		4.000		08/01/46	30,525
	159,898		4.500		08/01/46	172,803
	184,330		4.000		10/01/46	198,609
	60,429		4.500		06/01/47	67,742
	1,801,763		4.500		11/01/47	1,964,630
	462,613		4.000		12/01/47	508,009
	474,204		4.000		01/01/48	520,589
	1,599,896		4.000		02/01/48	1,744,875
	1,312,564		4.000		03/01/48	1,424,138
	1,530,587		4.000		06/01/48	1,679,348
	549,244		4.000		08/01/48	594,903
	2,244,281		5.000		11/01/48	2,522,759
	9,734,126		5.000		10/01/49	10,628,000

						31,602,518

UMBS, 30 Year, Single Family^(d) – 22.0%
	50,000,000		2.500		TBA-30yr	52,075,589
	10,000,000		3.000		TBA-30yr	10,527,734
	17,000,000		3.500		TBA-30yr	17,876,562


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
UMBS, 30 Year, Single Family^(d) – (continued)
$	3,000,000		4.000	%	TBA-30yr	$ 3,178,477

						83,658,362

TOTAL FEDERAL AGENCIES						$209,121,204

TOTAL MORTGAGE-BACKED OBLIGATIONS (Cost $212,286,436)						$216,064,050



Agency Debentures – 22.7%
FFCB
$	3,000,000		3.430	%	12/06/28	$ 3,544,410
	720,000		5.270		05/01/29	961,027
	1,150,000		3.290		01/25/30	1,362,187
FHLB
	3,700,000		2.125		06/09/23	3,899,023
	2,100,000		3.375		09/08/23	2,304,771
	300,000		3.375		12/08/23	330,957
	15,150,000		0.500		04/14/25	15,177,270
FHLMC
	16,670,000		0.375		04/20/23	16,721,677
FNMA
	1,400,000		1.875		09/24/26	1,506,834
	2,600,000		6.250		05/15/29	3,766,100
	4,000,000		6.625		11/15/30	6,187,040
Israel Government AID Bond^(e)
	1,400,000		5.500		09/18/23	1,621,760
	500,000		5.500		12/04/23	586,360
	700,000		5.500		04/26/24	833,336
New Valley Generation V
	727,495		4.929		01/15/21	719,536
Tennessee Valley Authority
	6,500,000		3.875		02/15/21	6,646,445
	20,150,000		0.750		05/15/25	20,401,270

TOTAL AGENCY DEBENTURES (Cost $83,322,925)						$ 86,570,003

GOLDMAN SACHS GOVERNMENT INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Asset-Backed Securities – 3.8%
Automotive – 1.3%
Ally Master Owner Trust Series 2018-1, Class A2
$	4,100,000		2.700	%	01/17/23	$ 4,135,579
Chesapeake Funding II LLC Series 2017-2A, Class A1^(c)
	329,465		1.990		05/15/29	330,824
Ford Credit Auto Owner Trust Series 2016-2, Class A^(c)
	400,000		2.030		12/15/27	404,712

						4,871,115

Collateralized Loan Obligation^(b)(c) – 0.3%
Towd Point Mortgage Trust Series 2017-4, Class A2
	1,030,153		3.000		06/25/57	1,119,114

Student Loan^(b) – 2.2%
Access Group, Inc. Series 2015-1, Class A^(c)(1M USD LIBOR + 0.700%)
	392,219		0.885		07/25/56	383,226
ECMC Group Student Loan Trust Series 2018-2A, Class A^(c)(1M USD LIBOR + 0.800%)
	1,224,191		0.985		09/25/68	1,166,263
GCO Education Loan Funding Master Trust II Series 2007-1A, Class A6L^(c)(3M LIBOR + 0.110%)
	138,717		0.470		11/25/26	138,717
Higher Education Funding I Series 2014-1, Class A^(c)(3M USD LIBOR + 1.050%)
	1,187,718		1.410		05/25/34	1,130,988
Navient Student Loan Trust Series 2016-7A, Class A^(c)(1M USD LIBOR + 1.150%)
	664,607		1.335		03/25/66	648,741
Navient Student Loan Trust Series 2017-4A, Class A2^(c)(1M USD LIBOR + 0.500%)
	752,872		0.685		09/27/66	737,038
Nelnet Student Loan Trust Series 2013-5A, Class A^(c)(1M USD LIBOR + 0.630%)
	216,866		0.815		01/25/37	206,498
PHEAA Student Loan Trust Series 2016-1A, Class A^(c)(1M USD LIBOR + 1.150%)
	1,058,607		1.335		09/25/65	1,035,548
Scholar Funding Trust Series 2013-A, Class A^(c)(1M USD LIBOR + 0.650%)
	1,459,921		0.820		01/30/45	1,355,943
SLM Student Loan Trust Series 2008-5, Class A4(3M USD LIBOR + 1.700%)
	716,856		2.691		07/25/23	705,187


Principal Amount		Interest Rate			Maturity Date	Value

Asset-Backed Securities – (continued)
Student Loan^(b) – (continued)
Utah State Board of Regents Series 2011-1, Class A3(3M USD LIBOR + 0.850%)
$	800,000		1.537	%	05/01/35	$ 771,825

						8,279,974

TOTAL ASSET-BACKED SECURITIES (Cost $14,503,291)						$ 14,270,203



Municipal Debt Obligations – 1.3%
Alaska^(b) – 0.4%
Alaska State Student Loan Corp. Series 2013, Class A(1M USD LIBOR + 0.500%)
$	1,409,863		0.684	%	08/25/31	$ 1,381,852

New Hampshire^(b)(f) – 0.3%
New Hampshire Higher Education Loan Corp. Series 2011-1, Class A3(3M USD LIBOR + 0.000%)
	989,789		1.841		10/25/37	935,458

New Jersey – 0.6%
New Jersey Economic Development Authority Series A
	2,000,000		7.425		02/15/29	2,416,800

Texas^(b)(f) – 0.0%
Brazos Higher Education Authority, Inc. Series 2005-2, Class I-A12(3M USD LIBOR + 0.000%)
	97,931		0.457		03/27/23	97,105

TOTAL MUNICIPAL DEBT OBLIGATIONS (Cost $4,484,189)						$ 4,831,215



U.S. Treasury Obligations – 21.7%
United States Treasury Bonds
$	900,000		3.125	%	11/15/41	$ 1,218,234
	3,500,000		3.750		11/15/43	5,207,891
	3,830,000		3.625		02/15/44	5,604,966
	9,390,000		3.375		05/15/44	13,276,580
	3,320,000		3.125		08/15/44	4,526,094
	6,400,000		2.875	^(g)	11/15/46	8,506,000
	5,080,000		2.750		11/15/47	6,642,100
	980,000		3.375		11/15/48	1,438,916

GOLDMAN SACHS GOVERNMENT INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount			Interest Rate			Maturity Date	Value

U.S. Treasury Obligations – (continued)
United States Treasury Bonds – (continued)
$		630,000		2.000	%	02/15/50	$ 721,055
United States Treasury Inflation Indexed Note
		3,267,419		0.125		07/15/22	3,344,958
United States Treasury Note
		840,000		1.625		10/31/26	902,212
United States Treasury Notes
		3,730,000		2.875		05/31/25	4,199,747
		4,360,000		2.875		07/31/25	4,924,075
		8,260,000		1.625		05/15/26	8,849,170
		1,010,000		2.125		05/31/26	1,111,947
		970,000		1.375		08/31/26	1,026,078
United States Treasury Strip Coupon^(h)
		6,400,000		0.000		11/15/35	5,397,762
		1,300,000		0.000		05/15/36	1,087,957
		6,000,000		0.000		11/15/37	4,864,751

TOTAL U.S. TREASURY OBLIGATIONS (Cost $69,260,829)							$ 82,850,493


	Shares		Dividend Rate				Value

Investment Company⁽ⁱ⁾ – 25.2%
Goldman Sachs Financial Square Government Fund - Institutional Shares
		96,211,570		0.155%			$ 96,211,570
(Cost $96,211,570)

TOTAL INVESTMENTS – 131.4% (Cost $480,069,240)							$ 500,797,534

LIABILITIES IN EXCESS OF OTHER ASSETS – (31.4)%							(119,664,554)

NET ASSETS – 100.0%							$ 381,132,980



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 June 30, 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 $125,900,803 which represents approximately 33.0% of the Fund’s net assets as of June 30, 2020.

(e)		Guaranteed by the United States Government until maturity. Total market value for these securities amounts to $3,041,456, which represents approximately 0.8% of the Fund’s net assets as of June 30, 2020.

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

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

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

(i)		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
NCUA		— National Credit Union Administration
REMIC		— Real Estate Mortgage Investment Conduit
STRIPS		— Separate Trading of Registered Interest and Principal of Securities
UMBS		— Uniform Mortgage Backed 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)

June 30, 2020 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FORWARD SALES CONTRACTS — At June 30, 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	07/21/20	$	(4,000,000)	$	(4,239,977)
UMBS, 30 Year, Single Family		4.500		TBA-30yr	07/14/20		(4,000,000)		(4,297,500)
UMBS, 30 Year, Single Family		5.000		TBA-30yr	05/21/20		(4,000,000)		(4,368,550)

TOTAL (Proceeds Receivable: $(12,920,938))								$	(12,906,027)

(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 June 30, 2020, the Fund had the following futures contracts:


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

Long position contracts:
Eurodollars	82	12/14/20	$	20,440,550		$	347,589
Ultra 10 Year U.S. Treasury Notes	25	09/21/20		3,937,109			15,802
2 Year U.S. Treasury Notes	172	09/30/20		37,982,438			8,481
10 Year U.S. Treasury Notes	54	09/21/20		7,515,281			188

Total						$	372,060

Short position contracts:
Ultra Long U.S. Treasury Bonds	(20)	09/21/20		(4,363,125	)		(27,872	)
5 Year U.S. Treasury Notes	(116)	09/30/20		(14,586,094	)		(15,416	)
20 Year U.S. Treasury Bonds	(122)	09/21/20		(21,784,625	)		(133,433	)

Total						$	(176,721	)

TOTAL FUTURES CONTRACTS						$	195,339

SWAP CONTRACTS — At June 30, 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		07/25/24	$	11,100		$	1,270		$	180		$	1,090
3M LIBOR^(a)	0.500%^(b)		09/16/25		3,430	^(c)		26,962			28,747			(1,785	)
3M LIBOR^(a)	0.980^(b)		05/21/30		4,980	^(c)		7,257			(7,048	)		14,305
1.160^(a)	3M LIBOR^(b)		05/21/35		4,990	^(c)		(918	)		5,896			(6,814	)
0.855^(a)	3M LIBOR^(b)		04/09/45		3,430	^(c)		26,306			123			26,183
3M LIBOR^(a)	0.845^(b)		04/10/50		3,560	^(c)		(20,305	)		128			(20,433	)

TOTAL							$	40,572		$	28,026		$	12,546

(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 June 30, 2020.

GOLDMAN SACHS GOVERNMENT INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

WRITTEN OPTIONS CONTRACTS — At June 30, 2020, the Fund had the following written options:

OVER-THE-COUNTER INTEREST RATE SWAPTIONS


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

Written option contracts
Calls
1M IRS	Deutsche Bank AG (London)		0.395	%		09/30/2020	(4,800,000)	$	(4,800,000	)	$	(21,234	)	$	(60,960	)	$	39,726
1Y IRS	Deutsche Bank AG (London)		0.448			05/12/2021	(5,700,000)		(5,700,000	)		(56,164	)		(59,822	)		3,658
1Y IRS	Deutsche Bank AG (London)		0.506			04/06/2021	(4,300,000)		(4,300,000	)		(48,389	)		(47,515	)		(874	)
6M IRS	Deutsche Bank AG (London)		0.395			09/30/2020	(4,800,000)		(4,800,000	)		(21,234	)		(49,920	)		28,686
6M IRS	Deutsche Bank AG (London)		0.395			10/02/2020	(4,800,000)		(4,800,000	)		(21,866	)		(43,440	)		21,574
6M IRS	JPMorgan Securities, Inc.		0.410			11/23/2020	(4,100,000)		(4,100,000	)		(28,627	)		(28,905	)		278

							(28,500,000)	$	(28,500,000	)	$	(197,514	)	$	(290,562	)	$	93,048

Puts
1Y IRS	Deutsche Bank AG (London)		0.448			05/12/2021	(5,700,000)		(5,700,000	)		(44,894	)		(59,821	)		14,927
1Y IRS	Deutsche Bank AG (London)		0.506			04/06/2021	(4,300,000)		(4,300,000	)		(24,906	)		(47,515	)		22,609
3M IRS	Deutsche Bank AG (London)		0.600			09/08/2020	(9,700,000)		(9,700,000	)		(3,645	)		(34,799	)		31,154
6M IRS	JPMorgan Securities, Inc.		0.410			11/23/2020	(4,100,000)		(4,100,000	)		(18,384	)		(28,905	)		10,521

							(23,800,000)	$	(23,800,000	)	$	(91,829	)	$	(171,040	)	$	79,211

Total written option contracts							(52,300,000)	$	(52,300,000	)	$	(289,343	)	$	(461,602	)	$	172,259



Abbreviation:
1M IRS		— 1 Month Interest Rate Swaptions
3M IRS		— 3 Months Interest Rate Swaptions
6M IRS		— 6 Months Interest Rate Swaptions
1Y IRS		— 1 Year Interest Rate Swaptions

GOLDMAN SACHS HIGH QUALITY FLOATING RATE FUND

Schedule of Investments

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – 34.4%
Collateralized Mortgage Obligations – 26.0%
Regular Floater^(a) – 25.4%
FHLMC REMIC Series 1826, Class F(1M USD LIBOR + 0.400%)
$	618		0.585	%	09/15/21	$ 617
FHLMC REMIC Series 3371, Class FA(1M USD LIBOR + 0.600%)
	504,783		0.785		09/15/37	509,777
FHLMC REMIC Series 3374, Class FT(1M USD LIBOR + 0.300%)
	87,650		0.485		04/15/37	87,432
FHLMC REMIC Series 3545, Class FA(1M USD LIBOR + 0.850%)
	126,188		1.035		06/15/39	127,735
FHLMC REMIC Series 4316, Class FY(1M USD LIBOR + 0.400%)
	615,424		0.585		11/15/39	614,922
FHLMC REMIC Series 4477, Class FG(1M USD LIBOR + 0.300%)
	2,236,326		0.670		10/15/40	2,227,329
FHLMC REMIC Series 4508, Class CF(1M USD LIBOR + 0.400%)
	2,106,512		0.585		09/15/45	2,111,843
FHLMC REMIC Series 4751, Class FA(1M USD LIBOR + 0.250%)
	6,581,075		0.435		03/15/39	6,545,981
FHLMC STRIPS Series 237, Class F23(1M USD LIBOR + 0.400%)
	193,515		0.585		05/15/36	193,547
FHLMC STRIPS Series 350, Class F2(1M USD LIBOR + 0.350%)
	8,483,828		0.720		09/15/40	8,493,803
FNMA REMIC Series 1998-66, Class FC(1M USD LIBOR + 0.500%)
	10,925		0.694		11/17/28	10,936
FNMA REMIC Series 2006-72, Class XF(1M USD LIBOR + 0.500%)
	140,441		0.685		08/25/36	141,019
FNMA REMIC Series 2007-33, Class HF(1M USD LIBOR + 0.350%)
	32,169		0.535		04/25/37	32,136
FNMA REMIC Series 2007-36, Class F(1M USD LIBOR + 0.230%)
	631,467		0.415		04/25/37	628,819
FNMA REMIC Series 2008-22, Class FD(1M USD LIBOR + 0.840%)
	301,124		1.025		04/25/48	306,712
FNMA REMIC Series 2009-66, Class FP(1M USD LIBOR + 0.900%)
	10,951,719		1.085		09/25/39	11,119,760
FNMA REMIC Series 2009-75, Class MF(1M USD LIBOR + 1.150%)
	440,414		1.335		09/25/39	451,116
FNMA REMIC Series 2010-123, Class FL(1M USD LIBOR + 0.430%)
	943,128		0.615		11/25/40	947,619
FNMA REMIC Series 2010-8, Class FE(1M USD LIBOR + 0.790%)
	5,074,386		0.975		02/25/40	5,152,055


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%)
$	1,473,737		0.585	%	04/25/41	$ 1,475,246
FNMA REMIC Series 2011-63, Class FG(1M USD LIBOR + 0.450%)
	345,779		0.635		07/25/41	347,097
FNMA REMIC Series 2012-56, Class FG(1M USD LIBOR + 0.500%)
	636,869		0.685		03/25/39	636,524
FNMA REMIC Series 2013-96, Class FW(1M USD LIBOR + 0.400%)
	89,478		0.585		09/25/43	89,792
FNMA REMIC Series 2014-19, Class FA(1M USD LIBOR + 0.400%)
	457,712		0.585		11/25/39	457,357
FNMA REMIC Series 2014-19, Class FJ(1M USD LIBOR + 0.400%)
	565,503		0.585		11/25/39	565,043
FNMA REMIC Series 2017-45, Class FA(1M USD LIBOR + 0.320%)
	5,492,162		0.690		06/25/47	5,468,873
FNMA REMIC Series 2018-72, Class FB(1M USD LIBOR + 0.350%)
	6,728,915		0.535		10/25/58	6,706,621
NCUA Guaranteed Notes Trust Series 2010-R1, Class 1A(1M LIBOR + 0.450%)
	593,599		0.624		10/07/20	591,113
NCUA Guaranteed Notes Trust Series 2010-R2, Class 2A(1M LIBOR + 0.470%)
	2,041,374		0.644		11/05/20	2,030,198

						58,071,022

Sequential Fixed Rate – 0.2%
FHLMC REMIC Series 4248, Class LM
	416,998		6.500		05/15/41	500,326

Sequential Floating Rate^(a) – 0.4%
FHLMC REMIC Series 3588, Class CW
	789,917		4.176		10/15/37	811,115
FNMA REMIC Series 1997-20, Class F
	32,701		2.184		03/25/27	33,022

						844,137

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS						$ 59,415,485

Commercial Mortgage-Backed Securities^(a) – 3.9%
Sequential Floating Rate – 3.9%
FHLMC Multifamily Structured Pass-Through Certificates Series KS02, Class A(1M USD LIBOR + 0.380%)
$	257,136		0.563	%	08/25/23	$ 256,885
FHLMC Multifamily Structured Pass-Through Certificates Series KF19, Class A(1M USD LIBOR + 0.450%)
	1,212,037		0.633		06/25/23	1,212,161

GOLDMAN SACHS HIGH QUALITY FLOATING RATE FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Sequential Floating Rate – (continued)
FHLMC Multifamily Structured Pass-Through Certificates Series KF31, Class A(1M USD LIBOR + 0.370%)
$	2,677,024		0.553	%	04/25/24	$ 2,680,749
FHLMC Multifamily Structured Pass-Through Certificates Series KF32, Class A(1M USD LIBOR + 0.370%)
	3,089,008		0.553		05/25/24	3,093,173
FHLMC Multifamily Structured Pass-Through Certificates Series J15L, Class AFL(1M USD LIBOR + 0.350%)
	1,592,535		0.533		08/25/25	1,565,078

TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES (Cost $)						$ 8,808,046

Federal Agencies – 4.5%
Adjustable Rate FHLMC^(a) – 0.8%
(COF + 1.250%)
$	252		2.134	%	05/01/21	$ 251
	5,042		4.065		06/01/29	5,236
	11,764		2.234		04/01/30	11,683
(3 Year CMT + 2.557%)
	257,731		4.364		08/01/28	261,209
(6M CMT + 2.221%)
	54,536		4.049		05/01/29	56,109
(COF + 1.248%)
	9,131		4.369		06/01/30	9,542
(COF + 1.198%)
	902		2.448		02/01/31	901
(12M MTA + 2.155%)
	4,589		4.230		06/01/31	4,802
(12M USD LIBOR + 1.860%)
	421,759		2.735		05/01/34	440,496
(12M USD LIBOR + 1.750%)
	381,816		3.461		05/01/35	401,676
(3 Year CMT + 2.107%)
	5,511		6.145		05/01/35	5,827
(1 Year CMT + 2.265%)
	647,452		4.157		01/01/38	675,430

						1,873,162

Adjustable Rate FNMA^(a) – 3.3%
(1 Year CMT + 2.000%)
	150		6.731		02/01/22	154
(1 year CMT + 1.500%)
	1,645		3.429		05/20/22	1,647
(6M USD LIBOR + 1.750%)
	6,037		3.500		02/01/23	6,124
(6M USD LIBOR + 1.890%)
	64,771		3.552		01/01/24	65,920
(6M USD LIBOR + 1.925%)
	47,662		3.800		03/01/24	48,628
(1 year CMT + 1.500%)
	31,111		3.437		06/20/24	31,180


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Adjustable Rate FNMA^(a) – (continued)
(COF + 1.250%)
$	4,607		3.612	%	06/01/27	$ 4,688
	3,299		4.250		12/01/27	3,443
	3,744		4.495		01/01/28	3,932
	3,645		2.234		06/01/29	3,646
	3,087		2.314		06/01/29	3,072
(1 Year CMT + 2.266%)
	328,757		3.441		07/01/33	342,599
(1 Year CMT + 2.360%)
	131,454		4.321		11/01/34	137,471
(COF + 1.254%)
	1,961		4.101		05/01/36	2,036
(12M USD LIBOR + 1.983%)
	612,596		3.911		03/01/37	646,458
(12M MTA + 1.400%)
	36,742		3.091		06/01/40	37,416
(12M MTA + 1.200%)
	3,811		2.891		02/01/41	3,859
(12M USD LIBOR + 1.550%)
	311,279		3.905		09/01/44	320,361
(1M LIBOR + 0.300%)
	5,867,243		0.485		08/25/48	5,846,781

						7,509,415

Adjustable Rate GNMA^(a) – 0.4%
(1 Year CMT + 1.500%)
	452,015		3.875		04/20/33	464,642
	95,605		3.875		05/20/33	98,276
	243,609		3.250		08/20/34	251,103

						814,021

FHLMC – 0.0%
	2,047		7.000		04/01/21	2,050
	3,448		7.000		08/01/21	3,527
	20,103		7.000		05/01/22	20,945
	37,153		7.000		06/01/22	38,560
	487		4.500		05/01/23	504

						65,586

GNMA – 0.0%
	13,556		7.000		04/15/26	15,064

UMBS – 0.0%
	4,312		7.000		07/01/21	4,392
	9,598		7.000		11/01/21	9,853
	11,722		7.000		12/01/21	11,788
	12,398		7.000		01/01/22	12,465
	2,714		7.000		02/01/22	2,799

						41,297

TOTAL FEDERAL AGENCIES						$ 10,318,545

TOTAL MORTGAGE-BACKED OBLIGATIONS (Cost $78,678,249)						$ 78,542,076

GOLDMAN SACHS HIGH QUALITY FLOATING RATE FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Asset-Backed Securities – 53.8%
Automotive^(a) – 6.5%
Chesapeake Funding II LLC Series 2017-3A, Class A2^(b)(1M USD LIBOR + 0.340%)
$	1,169,730		0.525	%	08/15/29	$ 1,166,727
GMF Floorplan Owner Revolving Trust Series 2017-2, Class A2^(b)(1M USD LIBOR + 0.430%)
	9,650,000		0.615		07/15/22	9,649,839
Nissan Master Owner Receivables Trust Series 2017-C, Class A(1M USD LIBOR + 0.320%)
	4,100,000		0.505		10/17/22	4,097,387

						14,913,953

Collateralized Loan Obligations^(b) – 19.8%
Anchorage Capital CLO Ltd. Series 2014-4RA, Class A^(a)(3M USD LIBOR + 1.050%)
	3,600,000		1.937		01/28/31	3,546,230
Apex Credit CLO II LLC Series 2017-2A, Class A^(a)(3M USD LIBOR + 1.270%)
	2,983,185		1.576		09/20/29	2,902,063
CBAM CLO Management LLC Series 2017-2A, Class A^(a)(3M USD LIBOR + 1.240%)
	3,500,000		2.375		10/17/29	3,460,684
Cedar Funding VII Clo Ltd. Series 18-7A, Class A1^(a)(3M USD LIBOR + 1.000%)
	3,000,000		2.135		01/20/31	2,929,629
Dryden 64 CLO Ltd. Series 18-64A, Class A^(a)(3M USD LIBOR + 0.970%)
	5,950,000		2.105		04/18/31	5,778,122
Halseypoint CLO 2 Ltd. Series 2020-2A, Class A1^(c)(3M USD LIBOR + 1.860%)
	1,300,000		0.000		07/20/31	1,287,000
Jamestown CLO X Ltd. Series 2017-10A, Class A1^(a)(3M USD LIBOR + 1.250%)
	4,750,000		2.385		07/17/29	4,670,547
Madison Park Funding XXX Ltd. Series 2018-30A, Class A^(a)(3M USD LIBOR + 0.750%)
	5,200,000		1.969		04/15/29	5,072,980
OCP CLO Ltd. Series 2014-5A, Class A1R^(a)(3M USD LIBOR + 1.080%)
	4,000,000		2.071		04/26/31	3,905,152
OCP CLO Ltd. Series 2017-13A, Class A1A^(a)(3M USD LIBOR + 1.260%)
	3,150,000		2.479		07/15/30	3,102,763
Pikes Peak Clo 2 Series 18-2A, Class A^(a)(3M USD LIBOR + 1.290%)
	6,700,000		2.425		01/18/32	6,553,866


Principal Amount		Interest Rate			Maturity Date	Value

Asset-Backed Securities – (continued)
Collateralized Loan Obligations^(b) – (continued)
WhiteHorse X Ltd. Series 2015-10A, Class A1R^(a)(3M USD LIBOR + 0.930%)
$	1,551,375		2.065	%	04/17/27	$ 1,539,171
Zais CLO Ltd. Series 2020-15A, Class A1^(a)(3M USD LIBOR + 2.555%)
	475,000		2.917		07/28/30	477,420

						45,225,627

Credit Card^(a) – 17.4%
American Express Credit Account Master Trust Series 2017-2, Class A(1M USD LIBOR + 0.450%)
	3,700,000		0.635		09/16/24	3,718,292
Citibank Credit Card Issuance Trust Series 2017-A5, Class A5(1M LIBOR + 0.620%)
	8,100,000		0.810		04/22/26	8,148,910
Citibank Credit Card Issuance Trust Series 2017-A7, Class A7(1M LIBOR + 0.370%)
	4,300,000		0.545		08/08/24	4,316,908
Evergreen Credit Card Trust Series 2019-1, Class A^(b)(1M USD LIBOR + 0.480%)
	8,700,000		0.665		01/15/23	8,708,637
Golden Credit Card Trust Series 2017-4A, Class A^(b)(1M USD LIBOR + 0.520%)
	11,200,000		0.705		07/15/24	11,222,978
Golden Credit Card Trust Series 2019-1A, Class A^(b)(1M USD LIBOR + 0.450%)
	3,500,000		0.635		12/15/22	3,501,981

						39,617,706

Student Loan^(a) – 10.1%
Academic Loan Funding Trust Series 2013-1A, Class A^(b)(1M USD LIBOR + 0.800%)
	1,947,750		0.985		12/26/44	1,815,553
Access to Loans for Learning Student Loan Corp. Series 2013-I, Class A(1M USD LIBOR + 0.800%)
	1,579,660		0.985		02/25/41	1,531,655
Education Loan Asset-Backed Trust I Series 2013-1, Class A1^(b)(1M USD LIBOR + 0.800%)
	280,438		0.985		06/25/26	279,720
Educational Funding of the South, Inc. Series 2012-1, Class A(1M USD LIBOR + 1.050%)
	1,331,099		1.235		03/25/36	1,290,153
Educational Services of America, Inc. Series 2012-1, Class A1^(b)(1M USD LIBOR + 1.150%)
	1,055,475		1.335		09/25/40	1,038,650
Educational Services of America, Inc. Series 2014-1, Class A^(b)(1M USD LIBOR + 0.700%)
	1,246,581		0.885		02/25/39	1,194,260

GOLDMAN SACHS HIGH QUALITY FLOATING RATE FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Asset-Backed Securities – (continued)
Student Loan^(a) – (continued)
GCO Education Loan Funding Master Trust II Series 2007-1A, Class A6L^(b)(3M LIBOR + 0.110%)
$	153,714		0.470	%	11/25/26	$ 153,714
Goal Capital Funding Trust Series 2010-1, Class A^(b)(3M USD LIBOR + 0.700%)
	32,362		1.060		08/25/48	30,403
Higher Education Funding I Series 2014-1, Class A^(b)(3M USD LIBOR + 1.050%)
	1,306,489		1.410		05/25/34	1,244,087
Illinois Student Assistance Commission Series 2010-1, Class A3(3M USD LIBOR + 0.900%)
	899,614		1.891		07/25/45	873,576
Kentucky Higher Education Student Loan Corp. Series 2015-1, Class A1(1M USD LIBOR + 0.750%)
	3,064,073		0.923		12/01/31	2,948,678
Knowledgeworks Foundation Student Loan Series 2010-1, Class A(3M USD LIBOR + 0.950%)
	944,249		1.310		02/25/42	915,968
Massachusetts Educational Financing Authority Series 2008-1, Class A1(3M USD LIBOR + 0.950%)
	307,805		1.941		04/25/38	307,001
Missouri Higher Education Loan Authority Series 2010-2, Class A1(3M USD LIBOR + 0.850%)
	1,752,986		1.210		08/27/29	1,698,129
Montana Higher Education Student Assistance Corp. Series 2012-1, Class A2(1M USD LIBOR + 1.000%)
	1,593,266		1.190		05/20/30	1,571,872
NCUA Guaranteed Notes Series 2010-A1, Class A(1M LIBOR + 0.350%)
	151,433		0.530		12/07/20	150,738
Northstar Education Finance, Inc. Series 2012-1, Class A^(b)(1M USD LIBOR + 0.700%)
	312,963		0.885		12/26/31	296,725
Rhode Island Student Loan Authority Series 2012-1, Class A1(1M USD LIBOR + 0.900%)
	1,178,189		1.073		07/01/31	1,142,748
Scholar Funding Trust Series 2010-A, Class A^(b)(3M USD LIBOR + 0.750%)
	697,850		1.637		10/28/41	640,699
SLC Student Loan Center Series 2011-1, Class A^(b)(1M USD LIBOR + 1.220%)
	421,058		1.405		10/25/27	419,133
SLC Student Loan Trust Series 2010-1, Class A(3M USD LIBOR + 0.875%)
	484,309		1.235		11/25/42	482,816


Principal Amount		Interest Rate			Maturity Date	Value

Asset-Backed Securities – (continued)
Student Loan^(a) – (continued)
SLM Student Loan Trust Series 2008-2, Class A3(3M USD LIBOR + 0.750%)
$	431,983		1.741	%	04/25/23	$ 403,000
SLM Student Loan Trust Series 2008-5, Class A4(3M USD LIBOR + 1.700%)
	234,357		2.691		07/25/23	230,542
South Texas Higher Education Authority, Inc. Series 2012-1, Class A2(3M USD LIBOR + 0.850%)
	144,123		2.283		10/01/24	141,418
Utah State Board of Regents Series 2011-1, Class A3(3M USD LIBOR + 0.850%)
	900,000		1.537		05/01/35	868,303
Utah State Board of Regents Series 2015-1, Class A(1M USD LIBOR + 0.600%)
	1,512,618		0.768		02/25/43	1,415,421

						23,084,962

TOTAL ASSET-BACKED SECURITIES (Cost $124,390,384)						$122,842,248



Municipal Debt Obligations^(a) – 4.4%
Alaska – 0.5%
Alaska State Student Loan Corp. Series 2013, Class A(1M USD LIBOR + 0.000%)
$	1,092,148		0.684	%	08/25/31	$ 1,070,449

New Hampshire^(d) – 1.1%
New Hampshire Higher Education Loan Corp. Series 2011-1, Class A3(3M USD LIBOR + 0.000%)
	1,072,271		1.841		10/25/37	1,013,413
New Hampshire State Higher Education Loan Corp. (Taxable-Student Loan) Series 2012-1(1M USD LIBOR + 0.000%)
	1,617,670		0.684		10/25/28	1,564,061

						2,577,474

Rhode Island^(d) – 0.1%
Rhode Island Student Loan Authority RB (Taxable - FFELP Loan Backed) Series 2014-1(1M USD LIBOR + 0.700%)
	317,863		0.873		10/02/28	299,787

Utah – 2.7%
Utah State Board of Regents RB (Taxable-Student Loan) Series 2012-1(1M USD LIBOR + 0.000%)
	6,125,549		0.934		12/26/31	5,828,283

GOLDMAN SACHS HIGH QUALITY FLOATING RATE FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Municipal Debt Obligations^(a) – (continued)
Utah– (continued)
Utah State Board of Regents Student Loan RB (Taxable) Series 2011, Class A2^(d)(3M USD LIBOR + 0.000%)
$	207,330		1.540	%	05/01/29	$ 204,952

						6,033,235

TOTAL MUNICIPAL DEBT OBLIGATIONS (Cost $10,439,443)						$ 9,980,945



U.S. Treasury Obligations^(c) – 7.2%
United States Treasury Bills
$	8,000,000		0.000	%	08/04/20	$ 7,999,037
	8,600,000		0.000		09/17/20	8,597,391

TOTAL U.S. TREASURY OBLIGATIONS (Cost $16,596,185)						$ 16,596,428

TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENT (Cost $230,104,261)						$227,961,697



Short-term Investment – 3.8%
Repurchase Agreements – 3.8%
Citibank N.A
$	8,700,000		0.090	%	07/01/20	$ 8,700,000
Maturity Value: $8,700,022
Next Reset Date: 07/01/2020
Collateralized by Various Agency Bonds, 2.500% to 3.500%, due 05/01/2050, The aggregate market value of the collateral, including accrued interest, was $8,961,002.
(Cost $8,700,000)

TOTAL INVESTMENTS – 103.6% (Cost $238,804,261)						$236,661,697

LIABILITIES IN EXCESS OF OTHER ASSETS – (3.6)%						(8,234,722)

NET ASSETS – 100.0%						$228,426,975



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

(a)		Variable rate security. Except for floating rate notes (for which final maturity is disclosed), maturity date disclosed is the next interest reset date. Interest rate disclosed is that which is in effect on June 30, 2020.

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

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

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



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
NCUA		— National Credit Union Administration
RB		— Revenue Bond
REMIC		— Real Estate Mortgage Investment Conduit
STRIPS		— Separate Trading of Registered Interest and Principal of Securities
UMBS		— Uniform Mortgage Backed 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)

June 30, 2020 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FUTURES CONTRACTS — At June 30, 2020, the Fund had the following futures contracts:


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

Long position contracts:

20 Year U.S. Treasury Bonds	2	09/21/20	$	357,125		$	1,833

Short position contracts:
Ultra Long U.S. Treasury Bonds	(3)	09/21/20		(654,469	)		(1,673	)
2 Year U.S. Treasury Notes	(41)	09/30/20		(9,053,953	)		(5,242	)
5 Year U.S. Treasury Notes	(78)	09/30/20		(9,807,891	)		(18,484	)
10 Year U.S. Treasury Bonds	(4)	09/21/20		(629,937	)		(3,784	)
10 Year U.S. Treasury Notes	(22)	09/21/20		(3,061,781	)		(8,684	)

Total						$	(37,867	)

TOTAL FUTURES CONTRACTS						$	(36,034	)

SWAP CONTRACTS — At June 30, 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%	3M LIBOR^(a)		07/25/24	$	11,600		$	1,328		$	184		$	1,144
3M LIBOR^(a)	0.980%^(b)		05/21/30		2,650	^(c)		3,862			(2,331	)		6,193
1.160^(b)	3M LIBOR^(a)		05/21/35		2,770	^(c)		(510	)		(1,847	)		1,337
0.855^(b)	3M LIBOR^(a)		04/09/45		1,990	^(c)		15,262			71			15,191
3M LIBOR^(a)	0.845^(b)		04/10/50		2,070	^(c)		(11,807	)		74			(11,881	)

TOTAL							$	8,135		$	(3,849	)	$	11,984

(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 June 30, 2020.

GOLDMAN SACHS INFLATION PROTECTED SECURITIES FUND

Schedule of Investments

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

U.S. Treasury Obligations – 94.1%
United States Treasury Bonds
$	560,000		3.375	%	11/15/48	$ 822,237
	310,000		2.000		02/15/50	354,805
United States Treasury Inflation Indexed Bonds
	13,525,986		2.125		02/15/40	19,941,085
	15,746,009		1.375		02/15/44	21,493,824
	18,622,413		0.750		02/15/45	22,785,887
	9,463,454		1.000		02/15/48	12,522,582
United States Treasury Inflation Indexed Notes
	59,768,493		0.125		04/15/22	60,637,309
	13,158,888		0.125		07/15/22	13,471,164
	32,108,189		0.125		01/15/23	32,895,476
	4,955,664		0.625		04/15/23	5,154,381
	10,778,080		0.500		04/15/24	11,333,343
	11,594,664		0.125		10/15/24	12,150,283
	13,800,198		0.125		04/15/25	14,480,623
	13,760,693		0.625		01/15/26	14,905,640
	38,300,988		0.125		07/15/26	40,700,553
	6,263,617		0.375		01/15/27	6,754,161
	11,427,015		0.375	^(a)	07/15/27	12,426,697
	12,371,835		0.500		01/15/28	13,568,900
	18,399,556		0.750		07/15/28	20,750,209
	25,796,748		0.875		01/15/29	29,427,267
	2,005,100		0.250		07/15/29	2,195,059
United States Treasury Note
	6,950,000		3.125		11/15/28	8,398,641

TOTAL U.S. TREASURY OBLIGATIONS (Cost $347,225,881)						$377,170,126


Shares		Dividend Rate			Value

Investment Company^(b) – 4.0%
Goldman Sachs Financial Square Government Fund - Institutional Shares
	15,776,352		0.155	%	$ 15,776,352
(Cost $15,776,352)

TOTAL INVESTMENTS – 98.1% (Cost $363,002,233)					$392,946,478

OTHER ASSETS IN EXCESS OF LIABILITIES – 1.9%					7,790,936

NET ASSETS – 100.0%					$400,737,414



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
LLC		— Limited Liability Company


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)

June 30, 2020 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FUTURES CONTRACTS — At June 30, 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	114	09/21/20	$	17,953,219		$	89,180
5 Year U.S. Treasury Notes	267	09/21/20		33,573,164			76,054
10 Year U.S. Treasury Notes	37	09/21/20		5,149,359			7,747

Total						$	172,981

Short position contracts:
Eurodollars	(26)	09/14/20		(6,482,775	)		(167,760	)
Ultra Long U.S. Treasury Bonds	(16)	09/21/20		(3,490,500	)		(7,299	)
2 Year U.S. Treasury Notes	(21)	09/30/20		(4,637,390	)		(1,279	)
20 Year U.S. Treasury Bonds	(74)	09/21/20		(13,213,625	)		(99,757	)

Total						$	(276,095	)

TOTAL FUTURES CONTRACTS						$	(103,114	)

SWAP CONTRACTS — At June 30, 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)	3M LIBOR	02/20/24	$	13,700		$	(797,094	)	$	86		$	(797,180	)
0.000^(b)	3M LIBOR	07/25/24		30,700			3,512			496			3,016
2.104^(a)	3M LIBOR	12/14/24		10,000			(529,864	)		85			(529,949	)
3M LIBOR^(b)	0.500%^(c)	09/16/25		7,230	^(d)		56,832			59,323			(2,491	)
2.007^(a)	3M LIBOR	02/07/26		6,300			(326,598	)		68			(326,666	)
0.750^(b)	3M LIBOR^(c)	09/16/27		13,830	^(d)		(253,992	)		(197,818	)		(56,174	)
3M LIBOR^(a)	2.103	02/07/29		6,300			459,063			82			458,981
3M LIBOR^(b)	0.980^(c)	05/21/30		10,910	^(d)		15,898			(15,489	)		31,387
1.160^(b)	3M LIBOR^(c)	05/21/35		10,950	^(d)		(2,014	)		13,059			(15,073	)
0.855^(b)	3M LIBOR^(c)	04/09/45		6,640	^(d)		50,927			239			50,688
3M LIBOR^(b)	0.845^(c)	04/10/50		6,870	^(d)		(39,185	)		247			(39,432	)

TOTAL						$	(1,362,515	)	$	(139,622	)	$	(1,222,893	)

(a)

Payments made at termination date.

(b)

Payments made quarterly.

(c)

Payments made semi-annually.

(d)

Represents forward starting interest rate swaps whose effective dates of commencement of accruals and cash flows occur subsequent to June 30, 2020.

GOLDMAN SACHS INFLATION PROTECTED SECURITIES FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

WRITTEN OPTIONS CONTRACTS — At June 30, 2020, the Fund had the following written options:

OVER-THE-COUNTER INTEREST RATE SWAPTIONS


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

Written option contracts
Calls
6M IRS	BofA Securities LLC		0.408	%		11/23/2020	(3,700,000)	$	(3,700,000	)	$	(25,619	)	$	(26,270	)	$	651
1M IRS	Deutsche Bank AG (London)		0.395			09/30/2020	(2,400,000)		(2,400,000	)		(10,617	)		(30,480	)		19,863
1Y IRS	Deutsche Bank AG (London)		0.448			05/12/2021	(4,800,000)		(4,800,000	)		(47,296	)		(50,376	)		3,080
1Y IRS	Deutsche Bank AG (London)		0.506			04/06/2021	(3,600,000)		(3,600,000	)		(40,512	)		(39,780	)		(732	)
6M IRS	Deutsche Bank AG (London)		0.395			09/30/2020	(2,400,000)		(2,400,000	)		(10,617	)		(24,960	)		14,343
6M IRS	Deutsche Bank AG (London)		0.395			10/02/2020	(2,400,000)		(2,400,000	)		(10,933	)		(21,720	)		10,787
1Y IRS	JPMorgan Securities, Inc.		0.480			05/19/2021	(5,600,000)		(5,600,000	)		(60,493	)		(56,938	)		(3,555	)
1Y IRS	JPMorgan Securities, Inc.		0.500			04/06/2021	(5,700,000)		(5,700,000	)		(63,084	)		(64,553	)		1,469
6M IRS	JPMorgan Securities, Inc.		0.410			11/23/2020	(5,100,000)		(5,100,000	)		(35,609	)		(35,955	)		346

							(35,700,000)	$	(35,700,000	)	$	(304,779	)	$	(351,032	)	$	46,252

Puts
6M IRS	BofA Securities LLC		0.408			11/23/2020	(3,700,000)		(3,700,000	)		(16,746	)		(26,270	)		9,524
1Y IRS	Deutsche Bank AG (London)		0.448			05/12/2021	(4,800,000)		(4,800,000	)		(37,806	)		(50,376	)		12,570
1Y IRS	Deutsche Bank AG (London)		0.506			04/06/2021	(3,600,000)		(3,600,000	)		(20,851	)		(39,780	)		18,929
3M IRS	Deutsche Bank AG (London)		0.600			09/08/2020	(4,900,000)		(4,900,000	)		(1,841	)		(17,579	)		15,738
1Y IRS	JPMorgan Securities, Inc.		0.480			05/19/2021	(5,600,000)		(5,600,000	)		(41,158	)		(56,938	)		15,780
1Y IRS	JPMorgan Securities, Inc.		0.500			04/06/2021	(5,700,000)		(5,700,000	)		(33,660	)		(64,552	)		30,892

6M IRS	JPMorgan Securities, Inc.		0.410			11/23/2020	(5,100,000)		(5,100,000	)		(22,868	)		(35,955	)		13,087

							(33,400,000)	$	(33,400,000	)	$	(174,931	)	$	(291,450	)	$	116,520

Total written option contracts							(69,100,000)	$	(69,100,000	)	$	(479,710	)	$	(642,482	)	$	162,772



Abbreviation:
1M IRS		— 1 Month Interest Rate Swaptions
3M IRS		— 3 Months Interest Rate Swaptions
6M IRS		— 6 Months Interest Rate Swaptions
1Y IRS		— 1 Year Interest Rate Swaptions
BofA Securities LLC		— Bank of America Securities LLC

GOLDMAN SACHS SHORT DURATION GOVERNMENT FUND

Schedule of Investments

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – 55.1%
Collateralized Mortgage Obligations – 5.0%
Interest Only^(a) – 0.0%
FHLMC REMIC Series 1161, Class U
$	13		1,172.807	%	11/15/21	$ 66

Inverse Floaters^(b) – 0.0%
FNMA REMIC Series 1990-134, Class SC (-1x1M USD LIBOR + 21.600%)
	90		21.323		11/25/20	93

Regular Floater^(b) – 0.1%
FNMA REMIC Series 2007-33, Class HF (1M USD LIBOR + 0.350%)
	276,848		0.535		04/25/37	276,568
NCUA Guaranteed Notes Trust Series 2010-R1, Class 1A (1M LIBOR + 0.450%)
	724,107		0.624		10/07/20	721,074

						997,642

Sequential Fixed Rate – 4.9%
FDIC Structured Sale Guaranteed Notes Series 2010-S1, Class 2A^(c)
	997,181		3.250		04/25/38	982,697
FHLMC REMIC Series 1980, Class Z
	219,730		7.000		07/15/27	250,651
FHLMC REMIC Series 2019, Class Z
	161,461		6.500		12/15/27	181,223
FHLMC REMIC Series 2755, Class ZA
	500,663		5.000		02/15/34	566,354
FHLMC REMIC Series 3530, Class DB
	1,447,194		4.000		05/15/24	1,508,311
FHLMC REMIC Series 4246, Class PT
	91,744		6.500		02/15/36	109,359
FHLMC REMIC Series 4273, Class PD
	809,929		6.500		11/15/43	984,065
FHLMC REMIC Series 4619, Class NA
	2,744,130		3.000		03/15/44	2,946,639
FHLMC REMIC Series 4663, Class KA
	16,802,278		3.500		11/15/42	17,080,669
FNMA REMIC Series 2012-111, Class B
	287,482		7.000		10/25/42	355,595
FNMA REMIC Series 2012-153, Class B
	1,082,317		7.000		07/25/42	1,368,390
FNMA REMIC Series 2015-30, Class EA
	5,017,656		3.000		05/25/45	5,346,615


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Sequential Fixed Rate – (continued)
GNMA REMIC Series 2019-35, Class A
$	10,700,362		4.000	%	12/20/48	$ 11,796,571

						43,477,139

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS						$ 44,474,940

Commercial Mortgage-Backed Securities – 3.9%
Sequential Fixed Rate – 3.9%
FHLMC Multifamily Structured Pass Through Certificates Series K716, Class A2
$	15,938,398		3.130	%	06/25/21	$ 16,159,242
FHLMC Multifamily Structured Pass Through Certificates Series K717, Class A2
	18,407,216		2.991		09/25/21	18,722,359

TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES						$ 34,881,601

Federal Agencies – 46.2%
Adjustable Rate FHLMC^(b) – 0.3%
FHLMC (12M USD LIBOR + 1.840%)
$	270,551		3.721	%	11/01/34	$ 283,954
FHLMC (1 Year CMT + 2.250%)
	664,093		3.821		06/01/35	696,051
FHLMC (12M USD LIBOR + 2.330%)
	54,854		4.122		05/01/36	57,873
FHLMC (6M USD LIBOR + 2.055%)
	13,983		3.930		10/01/36	14,621
FHLMC (12M USD LIBOR + 2.000%)
	10,606		3.875		11/01/36	11,133
FHLMC (12M USD LIBOR + 1.763%)
	121,562		3.707		06/01/42	126,364
FHLMC (12M USD LIBOR + 1.613%)
	1,555,966		3.869		11/01/44	1,605,964

						2,795,960

Adjustable Rate FNMA^(b) – 0.8%
FNMA (COF + 1.799%)
	28,252		2.683		08/01/29	28,278
FNMA (12M USD LIBOR + 1.755%)
	28,708		4.255		07/01/32	29,709
FNMA (12M USD LIBOR + 1.225%)
	8,210		3.475		01/01/33	8,428

GOLDMAN SACHS SHORT DURATION GOVERNMENT FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Adjustable Rate FNMA^(b) – (continued)
FNMA (12M USD LIBOR + 1.800%)
$	376,527		3.064	%	05/01/33	$ 394,484
FNMA (6M USD LIBOR + 2.250%)
	45,109		4.125		08/01/33	46,925
FNMA (COF + 1.250%)
	439,545		4.602		08/01/33	464,549
FNMA (1 Year CMT + 2.287%)
	334,136		3.901		02/01/34	350,080
FNMA (12M USD LIBOR + 1.695%)
	169,932		2.570		05/01/34	177,474
FNMA (12M USD LIBOR + 1.720%)
	332,855		3.553		05/01/34	348,942
FNMA (1 Year CMT + 2.220%)
	336,789		4.595		06/01/34	351,746
FNMA (12M USD LIBOR + 1.663%)
	119,253		3.573		10/01/34	124,449
FNMA (12M USD LIBOR + 1.667%)
	241,088		3.917		10/01/34	251,486
FNMA (12M USD LIBOR + 1.460%)
	35,513		3.460		02/01/35	37,003
FNMA (12M USD LIBOR + 1.506%)
	104,015		3.506		02/01/35	108,308
FNMA (12M USD LIBOR + 1.628%)
	146,545		3.628		03/01/35	153,342
FNMA (12M USD LIBOR + 1.720%)
	135,286		3.720		03/01/35	142,187
FNMA (12M USD LIBOR + 1.325%)
	439,467		3.220		04/01/35	455,781
FNMA (12M USD LIBOR + 1.720%)
	59,128		3.595		04/01/35	62,233
FNMA (12M USD LIBOR + 1.397%)
	89,252		3.286		05/01/35	92,737
FNMA (1 Year CMT + 2.074%)
	141,710		4.018		10/01/35	147,930
FNMA (12M USD LIBOR + 1.724%)
	395,540		3.724		03/01/36	414,969
FNMA (12M USD LIBOR + 1.971%)
	652,834		3.721		04/01/36	691,263
FNMA (12M MTA + 2.265%)
	69,519		3.940		04/01/36	72,138
FNMA (12M MTA + 2.592%)
	156,482		4.309		06/01/36	162,875


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Adjustable Rate FNMA^(b) – (continued)
FNMA (12M USD LIBOR + 1.894%)
$	374,382		4.643	%	06/01/36	$ 391,585
FNMA (12M MTA + 2.344%)
	725,498		4.070		07/01/36	752,878
FNMA (12M USD LIBOR + 1.935%)
	87,688		3.889		11/01/36	92,239
FNMA (12M USD LIBOR + 1.935%)
	26,777		4.060		11/01/36	28,119
FNMA (12M USD LIBOR + 1.730%)
	475,190		3.705		07/01/37	497,765
FNMA (12M USD LIBOR + 1.820%)
	3,857		3.945		12/01/46	4,092

						6,883,994

Adjustable Rate GNMA^(b) – 0.3%
GNMA (1 Year CMT + 1.500%)
	115,986		3.875		05/20/34	119,739
	250,810		3.250		07/20/34	258,286
	213,293		3.250		08/20/34	219,854
	1,479,936		3.250		09/20/34	1,524,185
	196,578		3.125		10/20/34	203,014
	292,455		3.125		12/20/34	302,073

						2,627,151

FHLMC – 0.7%
	19,705		7.000		04/01/22	20,273
	487		4.500		05/01/23	504
	4,831		7.500		01/01/31	5,685
	29,020		4.500		07/01/33	32,903
	810,110		4.500		08/01/33	918,491
	1,661,178		4.500		09/01/33	1,883,267
	160,646		4.500		10/01/33	182,138
	3,774		4.500		04/01/34	4,274
	4,164		4.500		04/01/35	4,529
	1,343		4.500		07/01/35	1,460
	7,817		4.500		08/01/35	8,503
	32,612		4.500		09/01/35	35,929
	8,530		4.500		10/01/35	9,277
	1,352		4.500		12/01/35	1,532
	1,065		4.500		05/01/36	1,158
	98,591		4.500		01/01/38	107,243
	2,111		4.500		04/01/38	2,366
	482		4.500		05/01/38	541
	5,923		4.500		06/01/38	6,442
	157,947		4.500		09/01/38	172,600
	3,195		4.500		01/01/39	3,579
	89,254		4.500		02/01/39	100,018
	46,181		4.500		03/01/39	51,752
	9,012		4.500		04/01/39	10,100
	254,974		4.500		05/01/39	285,735
	750,762		4.500		06/01/39	841,336
	16,653		4.500		07/01/39	18,663
	36,088		4.500		08/01/39	40,442
	50,276		4.500		09/01/39	56,342
	9,484		4.500		10/01/39	10,628
	17,583		4.500		11/01/39	19,705

GOLDMAN SACHS SHORT DURATION GOVERNMENT FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
FHLMC – (continued)
$	32,734		4.500	%	12/01/39	$ 36,682
	29,278		4.500		01/01/40	32,811
	8,370		4.500		02/01/40	9,349
	23,298		4.500		04/01/40	25,981
	34,839		4.500		05/01/40	38,801
	42,817		4.500		06/01/40	47,688
	36,644		4.500		07/01/40	40,812
	33,251		4.500		08/01/40	37,033
	22,393		4.500		09/01/40	24,939
	8,588		4.500		10/01/40	9,565
	13,907		4.500		02/01/41	15,497
	28,181		4.500		03/01/41	31,467
	75,399		4.500		04/01/41	84,191
	67,631		4.500		05/01/41	75,518
	136,564		4.500		06/01/41	152,492
	10,316		4.500		07/01/41	11,519
	320,368		4.500		08/01/41	357,706
	341,919		4.500		09/01/41	380,843
	20,777		4.500		12/01/41	23,200
	255,279		4.500		03/01/42	285,054

						6,558,563

FNMA – 2.4%
	21,576,435		4.207		07/01/21	21,925,681
	95,393		7.500		10/01/37	112,487

						22,038,168

GNMA – 16.1%
	58		5.500		07/15/20	58
	1,223		6.500		01/15/32	1,353
	6,186		6.500		02/15/32	7,177
	5,132		6.500		08/15/34	6,107
	11,059		6.500		05/15/35	13,008
	2,761		6.500		06/15/35	3,217
	7,559		6.500		07/15/35	8,897
	2,919		6.500		08/15/35	3,424
	6,095		6.500		09/15/35	7,158
	2,329		6.500		10/15/35	2,741
	12,043		6.500		11/15/35	14,169
	6,325		6.500		12/15/35	7,420
	25,521		6.500		01/15/36	29,945
	28,185		6.500		02/15/36	33,182
	17,373		6.500		03/15/36	20,397
	49,750		6.500		04/15/36	58,295
	81,813		6.500		05/15/36	96,151
	63,244		6.500		06/15/36	74,349
	212,958		6.500		07/15/36	252,082
	224,734		6.500		08/15/36	265,369
	429,421		6.500		09/15/36	510,195
	148,900		6.500		10/15/36	175,582
	211,992		6.500		11/15/36	253,410
	92,336		6.500		12/15/36	108,588
	61,530		6.500		01/15/37	72,370
	23,138		6.500		02/15/37	27,169
	10,264		6.500		03/15/37	12,051
	21,758		6.500		04/15/37	25,638
	13,678		6.500		05/15/37	16,271
	15,931		6.500		08/15/37	18,700
	59,667		6.500		09/15/37	70,168
	60,535		6.500		10/15/37	74,042


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
GNMA – (continued)
$	26,652		6.500	%	11/15/37	$ 31,294
	14,121		6.500		05/15/38	16,722
	57,087		6.000		11/15/38	67,756
	2,889		6.500		01/15/39	3,342
	13,689		6.500		02/15/39	16,063
	8,443,311		4.500		08/20/47	9,165,685
	206,755		4.500		02/20/48	223,734
	566,005		4.500		05/20/48	610,893
	2,851,845		4.500		09/20/48	3,066,427
	8,229,799		4.500		12/20/48	8,820,103
	23,849,582		5.000		12/20/48	25,925,662
	1,741,595		4.500		01/20/49	1,863,659
	11,723,797		5.000		05/20/49	12,711,367
	2,628,591		5.000		06/20/49	2,849,192
	54,000,000		2.500		TBA-30yr^(d)	56,815,360
	3,000,000		3.000		TBA-30yr^(d)	3,176,740
	15,000,000		5.000		TBA-30yr^(d)	16,274,492

						143,907,174

UMBS – 6.2%
	213,756		5.500		09/01/23	222,123
	60,148		5.500		10/01/23	62,546
	352,839		4.500		11/01/36	393,949
	101,808		4.500		02/01/39	114,117
	104,232		4.500		04/01/39	116,786
	7,373		4.500		08/01/39	8,304
	5,883		4.500		05/01/41	6,568
	374,021		4.500		08/01/41	414,843
	109,752		4.500		10/01/41	122,540
	6,840,931		4.500		07/01/48	7,457,167
	7,578,555		4.500		08/01/48	8,263,606
	6,936,107		4.500		10/01/48	7,703,974
	27,788,113		5.000		10/01/49	30,339,865

						55,226,388

UMBS, 30 Year, Single Family^(d) – 19.4%
	127,000,000		2.500		TBA-30yr	132,284,147
	4,000,000		3.000		TBA-30yr	4,211,094
	19,000,000		3.500		TBA-30yr	19,979,687
	7,000,000		4.000		TBA-30yr	7,416,445
	9,000,000		5.000		TBA-30yr	9,829,238

						173,720,611

TOTAL FEDERAL AGENCIES						$ 413,758,009

TOTAL MORTGAGE-BACKED OBLIGATIONS (Cost $490,513,362)						$ 493,114,550



Agency Debentures – 20.2%
FHLB
$	1,800,000		5.375	%	08/15/24	$ 2,159,766
	44,850,000		0.500		04/14/25	44,930,730
FHLMC
	50,330,000		0.375		04/20/23	50,486,023

GOLDMAN SACHS SHORT DURATION GOVERNMENT FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Agency Debentures – (continued)
FNMA
$	5,200,000		6.250	%	05/15/29	$ 7,532,200
	16,080,000		7.125		01/15/30	25,061,484
Tennessee Valley Authority
	49,850,000		0.750		05/15/25	50,471,630

TOTAL AGENCY DEBENTURES (Cost $174,635,173)						$ 180,641,833



Asset-Backed Securities^(b) – 0.1%
Student Loan – 0.1%
NCUA Guaranteed Notes Series 2010-A1, Class A (1M LIBOR + 0.350%)
$	933,834		0.530	%	12/07/20	$ 929,551
(Cost $933,834)



U.S. Treasury Obligations – 42.7%
United States Treasury Bonds
$	7,370,000		3.750	%^(e)	11/15/43	$ 10,966,330
	410,000		3.375		05/15/44	579,702
	10,000		3.000		11/15/45	13,473
	200,000		2.875		11/15/46	265,812
	110,000		3.000		02/15/48	150,494
	1,400,000		3.375		11/15/48	2,055,594
	780,000		2.000		02/15/50	892,734
United States Treasury Inflation Indexed Note
	18,600,869		0.125		07/15/22	19,042,289
United States Treasury Notes
	62,560,000		2.500		01/15/22	64,803,363
	71,350,000		2.500		02/15/22	74,042,348
	43,730,000		1.875		02/28/22	44,970,156
	71,560,000		2.375		03/15/22	74,251,886
	46,570,000		1.750		09/30/22	48,221,780
	350,000		2.750		04/30/23	375,430
	380,000		2.875		11/30/23	414,645
	7,100,000		2.625		12/31/23	7,700,727
	620,000		3.000		09/30/25	706,316
	4,500,000		2.625		12/31/25	5,056,523
	630,000		1.375		08/31/26	666,422


Principal Amount		Interest Rate			Maturity Date	Value

U.S. Treasury Obligations – (continued)
United States Treasury Strip Coupon^(f)
$	28,900,000		0.000	%	11/15/35	$ 24,374,272
	2,800,000		0.000		05/15/36	2,343,291

TOTAL U.S. TREASURY OBLIGATIONS (Cost $365,514,926)						$ 381,893,587


Shares		Dividend Rate		Value

Investment Company^(g) – 10.4%
Goldman Sachs Financial Square Government Fund - Institutional Shares
	93,017,929		0.155%	$ 93,017,929
(Cost $93,017,929)

TOTAL INVESTMENTS – 128.5% (Cost $1,124,615,224)				$1,149,597,450

LIABILITIES IN EXCESS OF OTHER ASSETS – (28.5)%				(255,191,318)

NET ASSETS – 100.0%				$ 894,406,132



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 June 30, 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 $249,987,203 which represents approximately 28.0% of the Fund’s net assets as of June 30, 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
NCUA		— National Credit Union Administration
REMIC		— Real Estate Mortgage Investment Conduit
UMBS		— Uniform Mortgage Backed 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 GOVERNMENT FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FUTURES CONTRACTS — At June 30, 2020, the Fund had the following futures contracts:


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

Long position contracts:
Eurodollars	222	12/14/20	$	55,339,050		$	1,014,299
2 Year U.S. Treasury Notes	1,670	09/30/20		368,782,970			84,887

Total						$	1,099,186

Short position contracts:
Eurodollars	(254)	09/14/20		(63,331,725	)		(24,204	)
Ultra Long U.S. Treasury Bonds	(64)	09/21/20		(13,962,000	)		(89,391	)
5 Year U.S. Treasury Notes	(1,590)	09/30/20		(199,930,079	)		(496,401	)
10 Year U.S. Treasury Notes	(102)	09/21/20		(14,195,531	)		(24,909	)
10 Year U.S. Treasury Bonds	(117)	09/21/20		(18,425,672	)		(132,948	)
20 Year U.S. Treasury Bonds	(330)	09/21/20		(58,925,625	)		(399,916	)

Total						$	(1,167,769	)

TOTAL FUTURES CONTRACTS						$	(68,583	)

SWAP CONTRACTS — At June 30, 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%	3M LIBOR^(a)	07/25/24	$	9,300		$	1,064		$	—		$	1,064
3M LIBOR^(a)	0.980%^(b)	05/21/30		10,960	^(c)		15,971			(15,491	)		31,462
1.160^(b)	3M LIBOR^(a)	05/21/35		10,970	^(c)		(2,018	)		12,972			(14,990	)
0.855^(b)	3M LIBOR^(a)	04/09/45		6,010	^(c)		46,095			216			45,879
3M LIBOR^(a)	0.845^(b)	04/10/50		6,240	^(c)		(35,592	)		224			(35,816	)

TOTAL						$	25,520		$	(2,079	)	$	27,599

(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 June 30, 2020.

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – 66.0%
Aerospace & Defense^(a) – 0.7%
Bombardier, Inc.^(b)
$	125,000		7.500	%	03/15/25	$ 81,562
The Boeing Co.
	5,000,000		4.875		05/01/25	5,453,400
TransDigm, Inc.
	2,445,000		6.500		07/15/24	2,347,200
	120,000		6.500		05/15/25	112,200

						7,994,362

Agriculture – 0.8%
Altria Group, Inc.^(a)
	2,350,000		3.800		02/14/24	2,571,652
Archer-Daniels-Midland Co.^(a)
	1,250,000		2.750		03/27/25	1,357,088
BAT Capital Corp.^(a)
	4,925,000		2.764		08/15/22	5,100,182
Cargill, Inc.^(b)
	1,175,000		1.375		07/23/23	1,193,976

						10,222,898

Apparel – 0.1%
Ralph Lauren Corp.
	1,450,000		1.700		06/15/22	1,473,838

Automotive – 1.8%
American Axle & Manufacturing, Inc.^(a)
	1,635,000		6.250		04/01/25	1,606,387
Clarios Global LP/Clarios US Finance Co.^(a)(b)
	120,000		8.500		05/15/27	120,900
Cooper-Standard Automotive, Inc.^(a)(b)
	145,000		5.625		11/15/26	91,350
Ford Motor Co.^(a)
	56,000		9.000		04/22/25	60,548
Ford Motor Credit Co. LLC
	1,500,000		3.813		10/12/21	1,478,918
	600,000		4.140	^(a)	02/15/23	587,177
	250,000		4.687	^(a)	06/09/25	243,576
General Motors Co.
	900,000		5.400		10/02/23	973,575
General Motors Financial Co., Inc.
	5,475,000		3.200	^(a)	07/06/21	5,535,937


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Automotive – (continued)
$	1,450,000		4.200	%	11/06/21	$ 1,489,237
	846,000		3.700	^(a)	05/09/23	870,678
	1,100,000		3.950	^(a)	04/13/24	1,136,113
The Goodyear Tire & Rubber Co.^(a)
	2,140,000		5.125		11/15/23	2,043,700
Volkswagen Group of America Finance LLC^(b)
	2,325,000		2.900		05/13/22	2,400,004
(3M USD LIBOR + 0.770%)
	4,000,000		1.204	^(c)	11/13/20	4,001,680

						22,639,780

Banks – 16.7%
AIG Global Funding^(b)
	1,125,000		0.800		07/07/23	1,125,045
Banco do Brasil SA
	350,000		4.750		03/20/24	362,469
Banco Santander SA
	1,800,000		3.848		04/12/23	1,913,994
	2,600,000		2.706		06/27/24	2,735,356
	1,600,000		2.746		05/28/25	1,654,560
Bank of America Corp.
	3,075,000		2.503	^(a)	10/21/22	3,147,724
	4,345,000		4.200		08/26/24	4,820,691
(3M USD LIBOR + 0.660%)
	1,475,000		2.369	^(a)(c)	07/21/21	1,476,357
(3M USD LIBOR + 0.790%)
	11,000,000		3.004	^(a)(c)	12/20/23	11,553,850
(3M USD LIBOR + 0.940%)
	1,175,000		3.864	^(a)(c)	07/23/24	1,274,899
Banque Federative du Credit Mutuel SA^(b)
	2,800,000		3.750		07/20/23	3,028,900
Barclays Bank PLC
	1,100,000		5.140		10/14/20	1,112,001
Barclays PLC^(a)(c)
(3M USD LIBOR + 1.380%)
	2,550,000		1.766		05/16/24	2,520,318
(3M USD LIBOR + 2.452%)
	3,600,000		2.852		05/07/26	3,751,560
BNP Paribas SA^(b)
	1,650,000		3.500		03/01/23	1,746,937
(SOFR + 2.074%)
	1,125,000		2.219	^(a)(c)	06/09/26	1,149,795
BPCE SA^(b)
	2,425,000		3.000		05/22/22	2,506,747
	850,000		2.375		01/14/25	878,705

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Banks – (continued)
Canadian Imperial Bank of Commerce
$	2,625,000		0.950	%	06/23/23	$ 2,634,634
CIT Bank NA^(a)(c)(SOFR + 1.715%)
	1,050,000		2.969		09/27/25	982,223
CIT Group, Inc.^(a)
	125,000		4.750		02/16/24	126,250
(SOFR + 3.827%)
	2,850,000		3.929	^(c)	06/19/24	2,785,875
Citibank NA^(a)
	1,425,000		3.650		01/23/24	1,562,598
Citigroup, Inc.
	975,000		2.700	^(a)	10/27/22	1,016,662
	5,065,000		3.500		05/15/23	5,399,999
(3M USD LIBOR + 0.950%)
	3,750,000		2.876	^(a)(c)	07/24/23	3,900,825
(3M USD LIBOR + 1.023%)
	1,045,000		4.044	^(a)(c)	06/01/24	1,135,100
(SOFR + 3.234%)
	1,275,000		4.700	^(a)(c)	12/31/99	1,131,563
Citizens Bank NA^(a)
	3,200,000		3.250		02/14/22	3,318,752
	2,075,000		2.250		04/28/25	2,197,425
Comerica Bank
	1,450,000		2.500		07/23/24	1,521,760
Cooperatieve Rabobank UA^(b)
	2,700,000		2.625		07/22/24	2,865,456
Credit Agricole SA, Class B
	3,700,000		4.375		03/17/25	4,097,676
Credit Suisse AG
	2,500,000		6.500	^(b)	08/08/23	2,743,550
	675,000		2.950		04/09/25	729,763
Credit Suisse Group Funding Guernsey Ltd.
	1,450,000		3.800		09/15/22	1,538,914
Danske Bank A/S^(a)(b)
	2,625,000		1.226		06/22/24	2,630,985
Fifth Third Bancorp^(a)
	1,550,000		1.625		05/05/23	1,587,324
	690,000		2.375		01/28/25	727,384
First Horizon National Corp.^(a)
	1,525,000		3.550		05/26/23	1,570,735
	1,500,000		4.000		05/26/25	1,555,800


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		1.386	%	05/18/24	$ 1,291,238
ING Groep NV
	1,525,000		4.100		10/02/23	1,670,988
(1 Year CMT + 1.100%)
	4,750,000		1.400	^(a)(b)(c)	07/01/26	4,763,205
JPMorgan Chase & Co.
	6,000,000		3.200		01/25/23	6,376,860
(3M USD LIBOR + 0.695%)
	2,050,000		3.207	^(a)(c)	04/01/23	2,133,332
(3M USD LIBOR + 0.730%)
	7,490,000		3.559	^(a)(c)	04/23/24	8,019,243
(3M USD LIBOR + 0.890%)
	350,000		3.797	^(a)(c)	07/23/24	379,512
(3M USD LIBOR + 1.000%)
	2,950,000		4.023	^(a)(c)	12/05/24	3,250,162
(3M USD LIBOR + 3.800%)
	1,230,000		4.487	^(a)(c)	12/29/49	1,157,479
(SOFR + 1.455%)
	4,975,000		1.514	^(a)(c)	06/01/24	5,057,535
(SOFR + 3.125%)
	1,700,000		4.600	^(a)(c)	12/31/99	1,515,125
Lloyds Banking Group PLC^(a)(c)
(1 Year CMT + 1.100%)
	3,275,000		1.326		06/15/23	3,293,012
(3M USD LIBOR + 1.249%)
	1,375,000		2.858		03/17/23	1,416,511
Macquarie Bank Ltd.^(b)
	1,825,000		2.100		10/17/22	1,871,519
Mitsubishi UFJ Financial Group, Inc.
	1,400,000		2.623		07/18/22	1,453,648
	6,950,000		3.407		03/07/24	7,505,027
Morgan Stanley, Inc.
	4,600,000		4.875		11/01/22	5,002,454
(3M USD LIBOR + 0.847%)
	5,175,000		3.737	^(a)(c)	04/24/24	5,578,081
(SOFR + 0.700%)
	4,125,000		0.761	^(a)(c)	01/20/23	4,106,726
MUFG Union Bank NA^(a)
	2,375,000		3.150		04/01/22	2,475,035
	1,400,000		2.100		12/09/22	1,444,002
NatWest Markets PLC^(b)
	4,125,000		3.625		09/29/22	4,321,515
	2,375,000		2.375		05/21/23	2,425,374
Regions Financial Corp.^(a)
	254,000		3.800		08/14/23	276,162
Royal Bank of Scotland Group PLC^(a)(c)
(1 Year CMT + 2.150%)
	1,325,000		2.359		05/22/24	1,359,119

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Banks – (continued)
(3M USD LIBOR + 1.550%)
$	2,525,000		4.519	%	06/25/24	$ 2,743,362
(3M USD LIBOR + 1.762%)
	1,175,000		4.269		03/22/25	1,277,378
Santander UK PLC
	3,675,000		2.100		01/13/23	3,789,733
Standard Chartered PLC^(a)(b)(c)(3M USD LIBOR + 1.150%)
	1,275,000		4.247		01/20/23	1,323,016
Sumitomo Mitsui Financial Group, Inc.
	1,925,000		1.474		07/08/25	1,926,405
Turkiye Vakiflar Bankasi TAO
	200,000		8.125		03/28/24	205,250
	380,000		5.250	^(b)	02/05/25	348,413
UBS Group AG^(b)
	1,275,000		2.650		02/01/22	1,312,370
UniCredit SpA^(b)
	1,000,000		6.572		01/14/22	1,056,980
Wells Fargo & Co.
	4,375,000		2.625		07/22/22	4,551,619
	2,080,000		3.750	^(a)	01/24/24	2,272,774
(SOFR + 1.600%)
	3,525,000		1.654	^(a)(c)	06/02/24	3,579,109
(SOFR + 2.000%)
	4,350,000		2.188	^(a)(c)	04/30/26	4,494,246
Wells Fargo Bank NA^(a)
	1,400,000		3.550		08/14/23	1,518,202
(3M USD LIBOR + 0.650%)
	2,000,000		2.082	^(c)	09/09/22	2,031,360

						205,094,242

Beverages – 1.5%
Anheuser-Busch InBev Finance, Inc.^(a)
	2,359,000		3.300		02/01/23	2,510,849
Anheuser-Busch InBev Worldwide, Inc.^(c) (3M USD LIBOR + 0.740%)
	2,725,000		2.051		01/12/24	2,716,416
Bacardi Ltd.^(a)(b)
	2,125,000		4.500		01/15/21	2,143,488
Constellation Brands, Inc.^(a)
	3,025,000		2.650		11/07/22	3,154,863
	800,000		3.200		02/15/23	847,344
Diageo Capital PLC^(a)
	1,975,000		3.500		09/18/23	2,143,191


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Beverages – (continued)
Keurig Dr Pepper, Inc.^(a)
$	3,900,000		4.057	%	05/25/23	$ 4,245,540

						17,761,691

Biotechnology – 0.3%
Bio-Rad Laboratories, Inc.
	3,576,000		4.875		12/15/20	3,633,395

Building Materials^(a) – 1.1%
Carrier Global Corp.^(b)
	2,650,000		1.923		02/15/23	2,704,086
	8,475,000		2.242		02/15/25	8,693,316
Fortune Brands Home & Security, Inc.
	1,650,000		4.000		09/21/23	1,799,771
JELD-WEN, Inc.^(b)
	125,000		4.875		12/15/27	120,000
Summit Materials LLC/Summit Materials Finance Corp.^(b)
	115,000		6.500		03/15/27	117,300

						13,434,473

Chemicals – 1.6%
Celanese US Holdings LLC^(a)
	900,000		3.500		05/08/24	951,597
CNAC HK Finbridge Co. Ltd.
	600,000		3.125		06/19/22	610,624
	240,000		4.625		03/14/23	254,775
	230,000		3.375		06/19/24	238,697
DuPont de Nemours, Inc.
	2,150,000		2.169		05/01/23	2,190,441
	6,800,000		4.205	^(a)	11/15/23	7,457,152
International Flavors & Fragrances, Inc.
	1,375,000		3.400		09/25/20	1,380,803
Kraton Polymers LLC/Kraton Polymers Capital Corp.^(a)(b)
	120,000		7.000		04/15/25	120,000
Sasol Financing International Ltd.
	200,000		4.500		11/14/22	180,540
Sasol Financing USA LLC^(a)
	450,000		5.875		03/27/24	403,875
Syngenta Finance NV^(b)
	3,055,000		3.933		04/23/21	3,073,666
The Dow Chemical Co.^(a)
	1,125,000		3.150		05/15/24	1,200,195

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Chemicals – (continued)
The Sherwin-Williams Co.^(a)
$	35,000		2.750	%	06/01/22	$ 36,042
Tronox, Inc.^(a)(b)
	1,985,000		6.500		05/01/25	1,982,519

						20,080,926

Commercial Services – 1.7%
Global Payments, Inc.^(a)
	3,800,000		3.750		06/01/23	4,091,194
IHS Markit Ltd.^(a)
	4,343,000		5.000	^(b)	11/01/22	4,661,733
	2,475,000		3.625		05/01/24	2,650,774
PayPal Holdings, Inc.
	2,075,000		2.200		09/26/22	2,147,729
	2,125,000		1.350		06/01/23	2,165,290
	1,625,000		2.400	^(a)	10/01/24	1,726,189
	1,875,000		1.650	^(a)	06/01/25	1,939,106
The ADT Security Corp.
	2,050,000		4.125		06/15/23	2,044,875

						21,426,890

Computers^(a) – 2.4%
Dell International LLC/EMC Corp.^(b)
	5,925,000		4.420		06/15/21	6,084,797
	6,625,000		5.450		06/15/23	7,249,075
	3,650,000		4.000		07/15/24	3,938,496
Hewlett Packard Enterprise Co.
	800,000		4.400		10/15/22	856,312
	475,000		2.250		04/01/23	489,483
	4,998,000		4.450		10/02/23	5,462,364
	700,000		4.650		10/01/24	785,855
(3M USD LIBOR + 0.720%)
	3,525,000		2.093	^(c)	10/05/21	3,516,117
NetApp, Inc.
	1,300,000		1.875		06/22/25	1,317,914

						29,700,413

Distribution & Wholesale^(a)(b) – 0.2%
Performance Food Group, Inc.
	1,970,000		6.875		05/01/25	2,048,800


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Diversified Financial Services – 3.5%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust
$	250,000		4.500	%	05/15/21	$ 251,463
	1,125,000		3.950	^(a)	02/01/22	1,123,324
	1,500,000		4.125	^(a)	07/03/23	1,466,160
	640,000		6.500	^(a)	07/15/25	669,773
AIG Global Funding^(b)
	299,000		2.300		07/01/22	308,460
Air Lease Corp.
	1,975,000		3.500		01/15/22	1,989,694
	2,375,000		2.250		01/15/23	2,344,529
	3,586,000		2.750	^(a)	01/15/23	3,544,689
	1,500,000		2.300	^(a)	02/01/25	1,433,295
	1,100,000		3.375	^(a)	07/01/25	1,098,999
Ally Financial, Inc.
	1,975,000		4.125		02/13/22	2,024,375
	1,300,000		4.625		05/19/22	1,352,754
American Express Co.^(a)
	395,000		2.500		08/01/22	409,410
	1,525,000		3.700		08/03/23	1,659,383
	320,000		2.500		07/30/24	339,130
(3M USD LIBOR + 0.750%)
	1,200,000		1.306	^(c)	08/03/23	1,198,044
(3M USD LIBOR + 3.285%)
	646,000		3.598	^(c)	12/29/49	551,522
Avolon Holdings Funding Ltd.^(a)(b)
	1,025,000		3.625		05/01/22	965,806
	3,925,000		5.500		01/15/23	3,670,856
	1,075,000		3.950		07/01/24	941,560
	2,075,000		2.875		02/15/25	1,747,627
Capital One Financial Corp.
	1,700,000		2.600	^(a)	05/11/23	1,776,245
	600,000		3.500		06/15/23	643,086
	850,000		3.900	^(a)	01/29/24	924,477
	620,000		3.300	^(a)	10/30/24	665,787
(3M USD LIBOR + 0.720%)
	1,475,000		1.480	^(a)(c)	01/30/23	1,445,426

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Diversified Financial Services – (continued)
GE Capital International Funding Co. Unlimited Co.
$	1,675,000		2.342	%	11/15/20	$ 1,685,569
Global Aircraft Leasing Co. Ltd.^(a)(b)(d) (PIK 7.250%, Cash 6.500%)
	1,550,000		6.500		09/15/24	1,092,750
Huarong Finance 2019 Co. Ltd.
	380,000		3.750		05/29/24	390,688
Huarong Finance II Co. Ltd.
	270,000		5.500		01/16/25	296,316
International Lease Finance Corp.
	2,125,000		8.625		01/15/22	2,283,270
Nationstar Mortgage Holdings, Inc.^(a)(b)
	115,000		8.125		07/15/23	118,019
Park Aerospace Holdings Ltd.^(a)(b)
	900,000		5.250		08/15/22	843,192
The Western Union Co.^(a)
	1,025,000		2.850		01/10/25	1,067,937

						42,323,615

Electrical – 3.3%
Ameren Corp.^(a)
	1,250,000		2.500		09/15/24	1,326,363
Avangrid, Inc.^(a)
	1,375,000		3.200		04/15/25	1,502,476
Berkshire Hathaway Energy Co.^(a)(b)
	1,225,000		4.050		04/15/25	1,399,673
Calpine Corp.^(a)
	2,560,000		5.750		01/15/25	2,585,600
Dominion Energy, Inc.
	2,125,000		2.715	^(e)	08/15/21	2,169,434
	1,750,000		2.450	^(b)	01/15/23	1,815,170
	525,000		3.071	^(e)	08/15/24	564,307
DTE Energy Co.
	650,000		2.600		06/15/22	671,944
	645,000		2.250		11/01/22	665,924
FirstEnergy Corp.^(a)
	850,000		2.050		03/01/25	880,133
Georgia Power Co.
	1,825,000		2.100		07/30/23	1,899,113
ITC Holdings Corp.^(a)
	4,050,000		2.700		11/15/22	4,223,299


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Electrical– (continued)
NextEra Energy Capital Holdings, Inc.^(a)
$	2,625,000		3.150	%	04/01/24	$ 2,850,461
NRG Energy, Inc.^(a)(b)
	4,525,000		3.750		06/15/24	4,789,034
Pacific Gas and Electric Co.^(a)
	5,575,000		1.750		06/16/22	5,583,585
Public Service Enterprise Group, Inc.^(a)
	975,000		2.875		06/15/24	1,042,070
Sempra Energy^(a)(c)
(3M USD LIBOR + 0.500%)
	1,350,000		1.719		01/15/21	1,349,932
(5 Year CMT + 4.550%)
	1,250,000		4.875		12/31/99	1,249,163
Vistra Operations Co. LLC^(a)(b)
	3,325,000		3.550		07/15/24	3,408,125

						39,975,806

Electrical Components & Equipment^(a)(b) – 0.2%
Energizer Holdings, Inc.
	1,925,000		5.500		06/15/25	1,982,750
	110,000		7.750		01/15/27	117,425

						2,100,175

Electronics^(a) – 0.1%
Roper Technologies, Inc.
	975,000		2.350		09/15/24	1,031,687

Entertainment^(a)(b) – 0.0%
Lions Gate Capital Holdings LLC
	125,000		5.875		11/01/24	118,125

Environmental^(a) – 0.1%
Waste Management, Inc.
	1,500,000		2.950		06/15/24	1,532,940

Food^(a)(b) – 0.2%
US Foods, Inc.
	2,120,000		5.875		06/15/24	2,014,000

Food & Drug Retailing – 1.4%
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertson’s LLC^(a)(b)
	110,000		7.500		03/15/26	119,075
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC^(a)
	2,431,000		6.625		06/15/24	2,491,775

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Food & Drug Retailing – (continued)
B&G Foods, Inc.^(a)
$	2,050,000		5.250	%	04/01/25	$ 2,060,250
General Mills, Inc.
	1,500,000		3.700	^(a)	10/17/23	1,635,960
(3M USD LIBOR + 1.010%)
	2,175,000		2.145	^(c)	10/17/23	2,185,788
Mondelez International Holdings Netherlands B.V.^(b)
	1,225,000		2.125		09/19/22	1,262,424
Mondelez International, Inc.^(a)
	2,325,000		1.500		05/04/25	2,368,826
Smithfield Foods, Inc.^(a)(b)
	2,350,000		2.650		10/03/21	2,321,753
Sysco Corp.^(a)
	1,000,000		5.650		04/01/25	1,170,670
The JM Smucker Co.
	275,000		3.000		03/15/22	285,070
Tyson Foods, Inc.^(a)
	875,000		3.900		09/28/23	954,459

						16,856,050

Gaming^(a) – 0.2%
MGM Resorts International
	805,000		6.750		05/01/25	795,944
	1,181,000		5.750		06/15/25	1,169,190

						1,965,134

Gas^(a) – 0.1%
NiSource, Inc.
	1,100,000		2.650		11/17/22	1,148,664
The East Ohio Gas Co.^(b)
	575,000		1.300		06/15/25	578,743

						1,727,407

Healthcare Providers & Services – 1.5%
Acadia Healthcare Co., Inc.^(a)
	500,000		6.125		03/15/21	500,000
	1,950,000		5.625		02/15/23	1,950,000
	120,000		6.500		03/01/24	122,100
Centene Corp.^(a)
	1,900,000		4.250		12/15/27	1,959,470
DaVita, Inc.^(a)
	1,925,000		5.000		05/01/25	1,968,312


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Healthcare Providers & Services – (continued)
DH Europe Finance II S.a.r.l.^(a)
$	650,000		2.200	%	11/15/24	$ 683,436
HCA, Inc.
	1,089,000		5.875		05/01/23	1,178,843
	1,330,000		5.375		02/01/25	1,426,425
Hill-Rom Holdings, Inc.^(a)(b)
	2,050,000		5.000		02/15/25	2,111,500
SSM Health Care Corp.^(a)
	2,335,000		3.688		06/01/23	2,507,160
Stryker Corp.^(a)
	1,275,000		1.150		06/15/25	1,282,599
Tenet Healthcare Corp.
	500,000		6.750		06/15/23	495,000
	1,952,000		5.125	^(a)	05/01/25	1,883,680

						18,068,525

Household Products^(a) – 0.3%
Prestige Brands, Inc.^(b)
	1,900,000		6.375		03/01/24	1,957,000
Spectrum Brands, Inc.
	1,900,000		5.750		07/15/25	1,949,875

						3,906,875

Insurance – 0.7%
American International Group, Inc.
	275,000		4.875		06/01/22	296,695
	1,875,000		4.125		02/15/24	2,090,400
	2,000,000		2.500	^(a)	06/30/25	2,115,840
Equitable Financial Life Global Funding^(b)
	1,550,000		1.400		07/07/25	1,552,046
Protective Life Global Funding^(b)
	1,725,000		1.082		06/09/23	1,735,194
Reliance Standard Life Global Funding II^(b)
	1,025,000		2.150		01/21/23	1,046,976

						8,837,151

Internet – 0.3%
Netflix, Inc.
	1,100,000		5.875		02/15/25	1,215,500

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Internet – (continued)
Uber Technologies, Inc.^(a)(b)
$	2,030,000		7.500	%	05/15/25	$ 2,042,688

						3,258,188

Iron/Steel^(a) – 0.0%
Cleveland-Cliffs, Inc.
	130,000		5.875		06/01/27	107,250
Steel Dynamics, Inc.
	345,000		2.400		06/15/25	354,632

						461,882

Leisure Time^(a)(b) – 0.0%
Viking Cruises Ltd.
	115,000		5.875		09/15/27	67,850

Lodging^(a) – 0.1%
Marriott International, Inc.
	1,650,000		3.600		04/15/24	1,654,010

Machinery - Construction & Mining^(a)(b) – 0.0%
The Manitowoc Co., Inc.
	125,000		9.000		04/01/26	124,219

Machinery-Diversified^(a)(b) – 0.6%
Otis Worldwide Corp.
	4,000,000		2.056		04/05/25	4,193,960
(3M USD LIBOR + 0.450%)
	3,000,000		2.088	^(c)	04/05/23	2,964,570

						7,158,530

Media – 2.2%
Charter Communications Operating LLC/Charter Communications Operating Capital^(a)
	1,650,000		4.464		07/23/22	1,759,758
	2,900,000		4.500		02/01/24	3,207,603
	6,600,000		4.908		07/23/25	7,562,610
(3M USD LIBOR + 1.650%)
	1,275,000		2.337	^(c)	02/01/24	1,278,544
CSC Holdings LLC
	1,150,000		6.750		11/15/21	1,204,625
Diamond Sports Group LLC/Diamond Sports Finance Co.^(a)(b)
	125,000		6.625		08/15/27	66,875
DISH DBS Corp.
	2,565,000		6.750		06/01/21	2,613,094
Entercom Media Corp.^(a)(b)
	120,000		7.250		11/01/24	103,800


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Media – (continued)
Fox Corp.^(a)
$	3,150,000		4.030	%	01/25/24	$ 3,485,821
Meredith Corp.^(a)
	120,000		6.875		02/01/26	100,200
Scripps Escrow, Inc.^(a)(b)
	120,000		5.875		07/15/27	113,700
The Walt Disney Co.
	1,650,000		3.350		03/24/25	1,830,823
Time Warner Cable LLC^(a)
	1,448,000		4.000		09/01/21	1,486,488
Time Warner Entertainment Co. LP
	1,701,000		8.375		03/15/23	2,010,276
Univision Communications, Inc.^(a)(b)
	125,000		5.125		05/15/23	126,138

						26,950,355

Mining^(a)(b) – 0.1%
Glencore Funding LLC
	625,000		3.000		10/27/22	642,963

Miscellaneous Manufacturing – 0.3%
General Electric Co.
	1,000,000		2.700		10/09/22	1,040,830
Parker-Hannifin Corp.^(a)
	625,000		2.700		06/14/24	666,406
Trane Technologies Global Holding Co. Ltd.
	1,875,000		2.900		02/21/21	1,898,700

						3,605,936

Oil & Gas Services^(a) – 0.2%
Cenovus Energy, Inc.
	2,185,000		3.000		08/15/22	2,121,591

Oil Field Services – 2.0%
BP Capital Markets America, Inc.
	2,050,000		2.937		04/06/23	2,169,351
Canadian Natural Resources Ltd.^(a)
	1,400,000		2.950		01/15/23	1,445,976
	1,875,000		2.050		07/15/25	1,878,338
Chevron Corp.^(a)
	2,225,000		1.554		05/11/25	2,288,679
Continental Resources, Inc.^(a)
	2,000,000		3.800		06/01/24	1,890,000

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Oil Field Services – (continued)
Exxon Mobil Corp.^(a)
$	1,850,000		2.992	%	03/19/25	$ 2,009,636
Gazprom PJSC Via Gaz Capital SA
	670,000		5.999		01/23/21	685,075
Marathon Petroleum Corp.^(a)
	1,700,000		4.500		05/01/23	1,833,246
MEG Energy Corp.^(a)(b)
	78,000		7.000		03/31/24	66,300
Nabors Industries, Inc.
	14,000		4.625		09/15/21	10,605
Newfield Exploration Co.
	125,000		5.750		01/30/22	125,098
Oasis Petroleum, Inc.^(a)
	900,000		6.875		03/15/22	157,500
Occidental Petroleum Corp.
	1,275,000		2.700		08/15/22	1,187,344
(3M USD LIBOR + 1.450%)
	2,350,000		1.842	^(a)(c)	08/15/22	2,136,338
Petrobras Global Finance B.V.
	1,130,000		6.250		03/17/24	1,196,741
Suncor Energy, Inc.
	3,375,000		2.800		05/15/23	3,523,871
Transocean Sentry Ltd.^(a)(b)
	1,900,000		5.375		05/15/23	1,615,000
USA Compression Partners LP/USA Compression Finance Corp.^(a)
	120,000		6.875		04/01/26	116,550
WPX Energy, Inc.^(a)
	120,000		5.250		09/15/24	118,500

						24,454,148

Packaging^(a)(b) – 0.2%
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc.
	2,035,000		6.000		02/15/25	2,083,331

Pharmaceuticals – 4.1%
AbbVie, Inc.
	3,875,000		3.375		11/14/21	4,014,810
	5,190,000		2.300	^(b)	11/21/22	5,368,899
	7,500,000		2.600	^(a)(b)	11/21/24	7,956,000
Bausch Health Americas, Inc.^(a)(b)
	110,000		9.250		04/01/26	119,350


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Pharmaceuticals – (continued)
Bausch Health Cos., Inc.^(a)(b)
$	525,000		5.875	%	05/15/23	$ 523,688
	1,875,000		7.000		03/15/24	1,945,312
Bayer US Finance II LLC^(a)(b)(c) (3M USD LIBOR + 1.010%)
	4,150,000		1.323		12/15/23	4,145,186
Becton Dickinson & Co.^(a)
	4,375,000		2.894		06/06/22	4,529,437
	1,200,000		3.363		06/06/24	1,293,216
	1,800,000		3.734		12/15/24	1,980,216
(3M USD LIBOR + 0.875%)
	1,144,000		1.181	^(c)	12/29/20	1,142,959
Bristol-Myers Squibb Co.^(a)(b)
	1,275,000		2.900		07/26/24	1,378,938
Cigna Corp.^(a)
	1,080,000		3.750		07/15/23	1,172,513
(3M USD LIBOR + 0.650%)
	1,550,000		0.949	^(c)	09/17/21	1,549,830
CVS Health Corp.^(a)
	9,155,000		3.700		03/09/23	9,824,871
	365,000		2.625		08/15/24	388,119
Elanco Animal Health, Inc.
	1,375,000		4.662		08/27/21	1,409,368
	500,000		5.022	^(a)	08/28/23	525,018
HLF Financing S.a.r.l. LLC/Herbalife International, Inc.^(a)(b)
	120,000		7.250		08/15/26	120,600
McKesson Corp.^(a)
	675,000		2.700		12/15/22	703,087

						50,091,417

Pipelines^(a) – 3.3%
Enbridge, Inc.
	2,725,000		2.900		07/15/22	2,826,860
Energy Transfer Operating LP
	10,075,000		3.600		02/01/23	10,448,883
Energy Transfer Partners LP/Regency Energy Finance Corp.
	150,000		4.500		11/01/23	160,604
EQM Midstream Partners LP
	3,756,000		4.750		07/15/23	3,788,865
Genesis Energy LP/Genesis Energy Finance Corp.
	1,285,000		6.000		05/15/23	1,156,500
Kinder Morgan, Inc.^(b)
	1,600,000		5.000		02/15/21	1,633,872

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Pipelines^(a) – (continued)
MPLX LP
$	2,050,000		3.500	%	12/01/22	$ 2,135,218
	2,530,000		4.500		07/15/23	2,720,914
(3M USD LIBOR + 0.900%)
	1,100,000		1.213	^(c)	09/09/21	1,089,583
(3M USD LIBOR + 1.100%)
	1,600,000		1.413	^(c)	09/09/22	1,576,160
NGPL PipeCo LLC^(b)
	215,000		4.375		08/15/22	221,607
	410,000		4.875		08/15/27	451,062
Sabine Pass Liquefaction LLC
	4,275,000		6.250		03/15/22	4,554,457
	225,000		5.625		04/15/23	245,907
Targa Resources Partners LP/Targa Resources Partners Finance Corp.
	1,950,000		5.125		02/01/25	1,872,000
Texas Eastern Transmission LP^(b)
	1,225,000		4.125		12/01/20	1,230,806
The Williams Cos., Inc.
	1,095,000		4.125		11/15/20	1,098,154
	2,025,000		3.600		03/15/22	2,102,254
Western Midstream Operating LP
	1,300,000		5.375		06/01/21	1,296,750

						40,610,456

Pipelines^(a) – 0.6%
Kinder Morgan, Inc.^(b)
	3,575,000		5.625		11/15/23	4,036,783
The Williams Cos., Inc.
	3,250,000		3.700		01/15/23	3,436,517

						7,473,300

Real Estate^(a) – 0.1%
China Evergrande Group
	230,000		8.250		03/23/22	211,744
Kaisa Group Holdings Ltd.
	200,000		11.500		01/30/23	204,442
Realogy Group LLC/Realogy Co-Issuer Corp.^(b)
	125,000		9.375		04/01/27	116,562
Yuzhou Properties Co. Ltd.
	200,000		7.700		02/20/25	195,000

						727,748


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Real Estate Investment Trust – 2.0%
Alexandria Real Estate Equities, Inc.^(a)
$	375,000		4.000	%	01/15/24	$ 414,416
American Tower Corp.
	4,000,000		3.000		06/15/23	4,268,640
	1,325,000		3.375	^(a)	05/15/24	1,439,692
	1,150,000		2.400	^(a)	03/15/25	1,208,328
	1,400,000		1.300	^(a)	09/15/25	1,404,424
Boston Properties LP^(a)
	175,000		4.125		05/15/21	178,413
Crown Castle International Corp.
	5,211,000		5.250		01/15/23	5,777,066
	1,750,000		1.350	^(a)	07/15/25	1,759,957
National Retail Properties, Inc.^(a)
	435,000		3.900		06/15/24	460,443
Simon Property Group LP^(a)
	726,000		2.750		06/01/23	754,808
SL Green Operating Partnership LP^(a)
	2,575,000		3.250		10/15/22	2,577,034
Ventas Realty LP^(a)
	1,375,000		3.500		04/15/24	1,431,856
VEREIT Operating Partnership LP^(a)
	2,600,000		4.600		02/06/24	2,765,386
WP Carey, Inc.^(a)
	285,000		4.600		04/01/24	305,996
	230,000		4.000		02/01/25	240,017

						24,986,476

Retailing^(a) – 1.0%
1011778 BC ULC/New Red Finance, Inc.^(b)
	620,000		4.250		05/15/24	615,350
	1,929,000		5.000		10/15/25	1,919,355
Alimentation Couche-Tard, Inc.^(b)
	425,000		2.700		07/26/22	435,838
AutoZone, Inc.
	1,700,000		3.125		04/18/24	1,830,152
Beacon Roofing Supply, Inc.^(b)
	1,207,000		4.875		11/01/25	1,081,774
Nordstrom, Inc.
	2,650,000		4.000		10/15/21	2,650,927

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Retailing^(a) – (continued)
PetSmart, Inc.^(b)
$	2,090,000		5.875	%	06/01/25	$ 2,100,450
Staples, Inc.^(b)
	120,000		10.750		04/15/27	70,500
Yum! Brands, Inc.^(b)
	1,875,000		7.750		04/01/25	2,022,656

						12,727,002

Savings & Loans^(b) – 0.4%
Nationwide Building Society
	2,725,000		2.000		01/27/23	2,804,352
(3M USD LIBOR + 1.181%)
	2,075,000		3.622	^(a)(c)	04/26/23	2,156,568

						4,960,920

Semiconductors – 2.7%
Broadcom Corp./Broadcom Cayman Finance Ltd.^(a)
	5,455,000		3.625		01/15/24	5,862,488
Broadcom, Inc.^(b)
	5,375,000		3.125		10/15/22	5,597,901
	4,625,000		2.250		11/15/23	4,777,995
	5,250,000		3.625	^(a)	10/15/24	5,704,755
	2,550,000		4.700	^(a)	04/15/25	2,871,326
Microchip Technology, Inc.
	1,125,000		3.922		06/01/21	1,147,142
	1,800,000		2.670	^(b)	09/01/23	1,852,182
NXP B.V./NXP Funding LLC^(b)
	2,950,000		4.125		06/01/21	3,037,172
	1,600,000		3.875		09/01/22	1,690,144
NXP B.V./NXP Funding LLC^(a)(b)
	250,000		2.700		05/01/25	262,648

						32,803,753

Software^(a) – 0.9%
Fiserv, Inc.
	1,950,000		3.800		10/01/23	2,130,141
	2,975,000		2.750		07/01/24	3,174,622
Infor, Inc.^(b)
	1,025,000		1.450		07/15/23	1,031,181
	1,075,000		1.750		07/15/25	1,079,902


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Software^(a) – (continued)
Intuit, Inc.
$	1,100,000		0.950	%	07/15/25	$ 1,102,497
Oracle Corp.
	2,825,000		2.500		04/01/25	3,028,513

						11,546,856

Telecommunication Services – 3.8%
AT&T, Inc.
	900,000		3.000		02/15/22	937,134
	1,324,000		3.200	^(a)	03/01/22	1,381,276
	975,000		3.000	^(a)	06/30/22	1,018,904
	3,225,000		3.600	^(a)	02/17/23	3,461,489
	1,800,000		4.050		12/15/23	1,996,056
	2,400,000		3.900	^(a)	03/11/24	2,638,488
	1,850,000		4.450	^(a)	04/01/24	2,072,666
	950,000		3.550	^(a)	06/01/24	1,038,768
CenturyLink, Inc.
	1,810,000		6.450		06/15/21	1,848,462
CommScope Technologies LLC^(a)(b)
	130,000		6.000		06/15/25	124,800
CommScope, Inc.^(a)
	63,000		5.000	^(b)	06/15/21	63,000
	1,110,000		5.500	^(b)	03/01/24	1,122,488
	750,000		5.500		03/01/24	759,360
Level 3 Financing, Inc.^(a)
	1,925,000		5.375		05/01/25	1,970,719
Qwest Corp.
	650,000		6.750		12/01/21	685,211
Sprint Communications, Inc.
	770,000		6.000		11/15/22	812,350
Sprint Corp.
	1,000,000		7.250		09/15/21	1,046,250
	640,000		7.875		09/15/23	720,000
T-Mobile USA, Inc.^(a)
	1,120,000		6.000		04/15/24	1,143,800
	8,050,000		3.500	^(b)	04/15/25	8,779,813
	1,575,000		1.500	^(b)	02/15/26	1,574,905

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Telecommunication Services – (continued)
Telecom Italia SpA^(b)
$	1,125,000		5.303	%	05/30/24	$ 1,175,625
Verizon Communications, Inc.
	2,200,000		2.450	^(a)	11/01/22	2,289,430
	6,700,000		5.150		09/15/23	7,640,881

						46,301,875

Toys/Games/Hobbies^(a)(b) – 0.0%
Mattel, Inc.
	125,000		5.875		12/15/27	128,750

Transportation^(a) – 0.5%
Ryder System, Inc.
	2,350,000		2.875		06/01/22	2,438,712
United Parcel Service, Inc.
	1,925,000		3.900		04/01/25	2,185,549
XPO Logistics, Inc.^(b)
	2,100,000		6.500		06/15/22	2,102,625

						6,726,886

Trucking & Leasing^(a)(b) – 0.1%
SMBC Aviation Capital Finance DAC
	1,200,000		3.550		04/15/24	1,223,436

TOTAL CORPORATE OBLIGATIONS (Cost $790,489,403)						$ 808,861,076



Mortgage-Backed Obligations – 20.2%
Collateralized Mortgage Obligations – 1.9%
Interest Only^(f) – 0.9%
FHLMC REMIC Series 3852, Class SW^(c) (-1x1M USD LIBOR + 6.000%)
$	684,374		5.815	%	05/15/41	$ 117,939
FHLMC REMIC Series 4314, Class SE^(c) (-1x1M USD LIBOR + 6.050%)
	539,565		5.865		03/15/44	95,126
FHLMC REMIC Series 4320, Class SD^(c) (-1x1M USD LIBOR + 6.100%)
	132,438		5.915		07/15/39	27,374
FHLMC REMIC Series 4468, Class SY^(c) (-1x1M USD LIBOR + 6.100%)
	892,576		5.915		05/15/45	180,626
FHLMC REMIC Series 4583, Class ST^(c) (-1x1M USD LIBOR + 6.000%)
	593,150		5.815		05/15/46	117,876


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Interest Only^(f) – (continued)
FHLMC REMIC Series 4792, Class SA^(c) (-1x1M USD LIBOR + 6.200%)
$	897,821		6.015	%	05/15/48	$ 106,336
FHLMC REMIC Series 4936, Class ES^(c) (-1x1M USD LIBOR + 6.000%)
	358,533		5.815		12/25/49	46,298
FHLMC REMIC Series 4936, Class PS^(c) (-1x1M USD LIBOR + 6.000%)
	673,576		5.815		12/25/49	85,814
FHLMC REMIC Series 4980, Class KI
	20,597,766		4.500		06/25/50	2,470,867
FHLMC STRIPS Series 304, Class C45
	192,901		3.000		12/15/27	11,350
FNMA REMIC Series 2010-135, Class AS^(c) (-1x1M USD LIBOR + 5.950%)
	190,860		5.766		12/25/40	31,546
FNMA REMIC Series 2015-34, Class LS^(c) (-1x1M USD LIBOR + 6.100%)
	1,585,978		5.916		06/25/45	316,230
FNMA REMIC Series 2016-1, Class SJ^(c) (-1x1M USD LIBOR + 6.150%)
	893,946		5.966		02/25/46	160,453
FNMA REMIC Series 2017-31, Class SG^(c) (-1x1M USD LIBOR + 6.100%)
	942,288		5.916		05/25/47	186,576
FNMA REMIC Series 2017-86, Class SB^(c) (-1x M USD LIBOR + 6.150%)
	704,505		5.966		11/25/47	131,277
FNMA REMIC Series 2018-17, Class CS^(c) (-1x1M USD LIBOR + 3.450%)
	2,595,622		2.500		03/25/48	157,452
GNMA REMIC Series 2010-101, Class S^(c)(-1x1M USD LIBOR + 6.000%)
	133,247		5.810		08/20/40	25,723
GNMA REMIC Series 2010-20, Class SE^(c) (-1x1M USD LIBOR + 6.250%)
	97,420		6.060		02/20/40	19,830
GNMA REMIC Series 2013-124, Class CS^(c) (-1x1M USD LIBOR + 6.050%)
	554,916		5.860		08/20/43	113,975
GNMA REMIC Series 2013-134, Class DS^(c) (-1x1M USD LIBOR + 6.100%)
	62,211		5.910		09/20/43	12,658
GNMA REMIC Series 2013-152, Class TS^(c) (-1x1M USD LIBOR + 6.100%)
	203,146		5.910		06/20/43	39,899

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Interest Only^(f) – (continued)
GNMA REMIC Series 2014-117, Class SJ^(c) (-1x1M USD LIBOR + 5.600%)
$	1,584,943		5.410	%	08/20/44	$ 290,965
GNMA REMIC Series 2014-132, Class SL^(c) (-1x1M USD LIBOR + 6.100%)
	561,970		5.910		10/20/43	79,303
GNMA REMIC Series 2014-133, Class BS^(c)(-1x1M USD LIBOR + 5.600%)
	503,243		5.410		09/20/44	91,915
GNMA REMIC Series 2014-158, Class SA^(c) (-1x1M USD LIBOR + 5.600%)
	743,421		5.405		10/16/44	138,965
GNMA REMIC Series 2014-162, Class SA^(c) (-1x1M USD LIBOR + 5.600%)
	214,228		5.410		11/20/44	36,564
GNMA REMIC Series 2015-110, Class MS^(c) (-1x1M USD LIBOR + 5.710%)
	4,730,439		5.520		08/20/45	775,332
GNMA REMIC Series 2015-111, Class IM
	720,057		4.000		08/20/45	80,995
GNMA REMIC Series 2015-123, Class SP^(c) (-1x1M USD LIBOR + 6.250%)
	378,703		6.060		09/20/45	71,376
GNMA REMIC Series 2015-57, Class AS^(c) (-1x1M USD LIBOR + 5.600%)
	867,749		5.410		04/20/45	147,039
GNMA REMIC Series 2015-95, Class GI
	402,602		4.500		07/16/45	73,513
GNMA REMIC Series 2016-109, Class IH
	1,933,090		4.000		10/20/45	217,176
GNMA REMIC Series 2016-27, Class IA
	309,715		4.000		06/20/45	28,649
GNMA REMIC Series 2017-112, Class SJ^(c) (-1X 1M USD LIBOR + 5.660%)
	398,184		5.470		07/20/47	61,802
GNMA REMIC Series 2018-105, Class SC^(c) (-1x1M USD LIBOR + 6.200%)
	352,265		6.010		08/20/48	53,698
GNMA REMIC Series 2018-122, Class HS^(c) 1X 1M USD LIBOR + 6.200%)
	862,376		6.010		09/20/48	164,186
GNMA REMIC Series 2018-122, Class SE^(c) (-1x1M USD LIBOR + 6.200%)
	934,060		6.010		09/20/48	143,330


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Interest Only^(f) – (continued)
GNMA REMIC Series 2018-139, Class SQ^(c) (-1x1M USD LIBOR + 6.150%)
$	1,095,270		5.960	%	10/20/48	$ 162,900
GNMA REMIC Series 2018-147, Class SA^(c) (-1x1M USD LIBOR + 6.200%)
	2,059,622		6.010		10/20/48	355,257
GNMA REMIC Series 2018-72, Class IB
	331,461		4.000		04/20/46	41,287
GNMA REMIC Series 2019-1, Class SN^(a)(c) (-1x1M USD LIBOR + 6.050%)
	1,093,278		5.860		01/20/49	161,270
GNMA REMIC Series 2019-110, Class SD^(c) (-1x1M USD LIBOR + 6.100%)
	974,778		5.910		09/20/49	158,077
GNMA REMIC Series 2019-110, Class SE^(c) (-1x1M USD LIBOR + 6.100%)
	1,019,359		5.910		09/20/49	144,531
GNMA REMIC Series 2019-128, Class IO
	1,645,638		4.000		10/20/49	196,048
GNMA REMIC Series 2019-129, Class AI
	2,912,017		3.500		10/20/49	362,500
GNMA REMIC Series 2019-151, Class IA
	4,172,356		3.500		12/20/49	491,719
GNMA REMIC Series 2019-151, Class NI
	4,053,212		3.500		10/20/49	364,883
GNMA REMIC Series 2019-20, Class SF^(c)(-1x1M USD LIBOR + 3.790%)
	2,325,390		3.600		02/20/49	198,465
GNMA REMIC Series 2019-4, Class SJ^(a)(c) (-1X 1M USD LIBOR + 6.050%)
	871,460		5.860		01/20/49	140,200
GNMA REMIC Series 2019-52, Class SK^(a)(c) (-1X 1M USD LIBOR + 6.050%)
	2,073,068		5.860		04/20/49	282,474
GNMA REMIC Series 2019-69, Class S^(a)(c) (-1x1M USD LIBOR + 3.270%)
	2,671,446		3.080		06/20/49	208,938
GNMA REMIC Series 2019-78, Class SE^(a)(c) (-1X 1M USD LIBOR + 6.100%)
	514,021		5.910		06/20/49	76,956
GNMA REMIC Series 2019-97, Class SC^(c) (-1x1M USD LIBOR + 6.100%)
	803,387		5.910		08/20/49	117,537

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Interest Only^(f) – (continued)
GNMA REMIC Series 2019-98, Class SC^(c)(-1x1M USD LIBOR + 6.050%)
$	1,452,636		5.860	%	08/20/49	$ 212,568
GNMA REMIC Series 2020-61, Class GI
	8,781,288		5.000		05/20/50	822,147

						11,407,790

Regular Floater^(c) – 0.0%
FNMA REMIC Series 2007-33, Class HF(1M USD LIBOR + 0.350%)
	16,572		0.535		04/25/37	16,555

Sequential Fixed Rate – 1.0%
FHLMC REMIC Series 4619, Class NA
	1,532,522		3.000		03/15/44	1,645,618
FHLMC REMIC Series 4630, Class MC
	1,065,038		4.000		08/15/54	1,159,397
FHLMC REMIC Series 4649, Class ML
	7,772,671		4.000		11/15/54	8,600,587
FNMA REMIC Series 2012-111, Class B
	18,851		7.000		10/25/42	23,318
FNMA REMIC Series 2012-153, Class B
	67,225		7.000		07/25/42	84,993

						11,513,913

Sequential Floating Rate^(b)(c) – 0.0%
New Residential Mortgage Loan Trust Series 2015-1A, Class A1
	221,341		3.750		05/28/52	234,992

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS						$ 23,173,250

Commercial Mortgage-Backed Securities^(b) – 0.2%
Sequential Fixed Rate – 0.1%
Cantor Commercial Real Estate Lending Series 2019-CF2, Class E
$	1,200,000		2.500	%	11/15/52	$ 776,995
CSAIL 2020-C19 Commercial Mortgage Trust Series 2020-C19, Class E
	884,000		2.500		03/15/53	473,666

						1,250,661

Sequential Floating Rate^(c) – 0.1%
Bancorp Commercial Mortgage Trust Series 2018-CRE4, Class A(1M USD LIBOR + 0.900%)
	601,295		1.085		09/15/35	578,529


Principal Amount		Interest Rate			Maturity Date			Value

Mortgage-Backed Obligations – (continued)
Sequential Floating Rate^(c) – (continued)
Exantas Capital Corp. Ltd. Series 2018-RSO6, Class A(1M USD LIBOR + 0.830%)
$	122,401		1.024	%		06/15/35		$ 121,179

								699,708

TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES								$ 1,950,369

Federal Agencies – 18.1%
GNMA – 7.7%
$	4,663,689		4.500	%		08/20/47		$ 5,062,694
	613,908		5.000			08/20/48		670,226
	2,130,506		5.000			11/20/48		2,319,127
	10,525,851		5.000			12/20/48		11,442,115
	5,572,875		4.500			01/20/49		5,963,462
	4,807,765		4.500			03/20/49		5,141,346
	1,733,670		5.000			03/20/49		1,881,062
	5,376,180		4.500			05/20/49		5,745,840
	7,872,367		5.000			05/20/49		8,535,507
	15,000,000		2.500			TBA-30yr	^(g)	15,782,045
	12,000,000		4.500			TBA-30yr	^(g)	12,814,022
	18,000,000		5.000			TBA-30yr	^(g)	19,529,390

								94,886,836

UMBS – 1.9%
	32,868		4.500			11/01/48		36,055
	21,111,256		5.000			10/01/49		23,049,879

								23,085,934

UMBS, 30 Year, Single Family^(g) – 8.5%
	73,000,000		2.500			TBA-30yr		76,048,089
	5,000,000		3.500			TBA-30yr		5,257,812
	3,000,000		4.000			TBA-30yr		3,178,477
	18,000,000		5.000			TBA-30yr		19,658,475

								104,142,853

TOTAL FEDERAL AGENCIES								$222,115,623

TOTAL MORTGAGE-BACKED OBLIGATIONS (Cost $244,507,862)								$247,239,242



Asset-Backed Securities – 4.6%
Automotive^(b) – 0.0%
Ford Credit Auto Owner Trust Series 2016-2, Class A
$	450,000		2.030	%		12/15/27		$ 455,301

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Asset-Backed Securities – (continued)
Collateralized Loan Obligations^(b) – 3.2%
AIMCO CLO Series 2017-AA, Class A^(c)(3M USD LIBOR + 1.260%)
$	3,150,000		2.395	%	07/20/29	$ 3,108,376
Bowman Park CLO Ltd. Series 2014-1A, Class AR^(c)(3M USD LIBOR + 1.180%)
	481,110		1.540		11/23/25	480,968
BSPRT Issuer Ltd. Series 2018 FL4, Class A^(c)(1M USD LIBOR + 1.050%)
	4,400,000		1.235		09/15/35	4,312,095
Cedar Funding II CLO Ltd. Series 2013-1A, Class A1R^(c)(3M USD LIBOR + 1.230%)
	3,100,000		1.543		06/09/30	3,055,143
Crown City CLO I Series 2020-1A, Class A1^(h)(3M USD LIBOR + 2.050%)
	2,500,000		0.000		07/20/30	2,499,990
Cutwater Ltd. Series 2014-1A, Class A1AR^(c)(3M USD LIBOR + 1.250%)
	1,112,001		2.469		07/15/26	1,100,398
Halseypoint CLO 2 Ltd. Series 2020-2A, Class A1^(h)(3M USD LIBOR + 1.860%)
	5,250,000		0.000		07/20/31	5,197,500
KREF Ltd. Series 2018-FL1, Class A^(c)(1M USD LIBOR + 1.100%)
	2,400,000		1.294		06/15/36	2,368,051
Madison Park Funding XXX Ltd. Series 2018-30A, Class A^(c)(3M USD LIBOR + 0.750%)
	4,200,000		1.969		04/15/29	4,097,407
Newark BSL CLO 1 Ltd. Series 2016-1A, Class A1R^(c)(3M USD LIBOR + 1.100%)
	3,000,000		2.091		12/21/29	2,946,810
OCP CLO Ltd. Series 2015-8A, Class A1R^(c)(3M USD LIBOR + 0.850%)
	1,247,555		1.985		04/17/27	1,240,703
Orec Ltd. Series 2018-CRE1, Class A^(c)(1M USD LIBOR + 1.180%)
	1,500,000		1.365		06/15/36	1,435,788
Parallel Ltd. Series 2015-1A, Class AR^(c)(3M USD LIBOR + 0.850%)
	844,754		1.985		07/20/27	833,352
Ready Capital Mortgage Financing LLC Series 2018-FL2, Class A^(c)(1M USD LIBOR + 0.850%)
	35,349		1.035		06/25/35	33,881
Recette CLO Ltd. Series 2015-1A, Class AR^(c)(3M USD LIBOR + 0.920%)
	3,052,250		2.055		10/20/27	3,028,699
Whitehorse Ltd. Series 2014-9A, Class AR^(c)(3M USD LIBOR + 1.160%)
	836,871		2.295		07/17/26	833,408


Principal Amount		Interest Rate			Maturity Date	Value

Asset-Backed Securities – (continued)
Collateralized Loan Obligations^(b) – (continued)
WhiteHorse VIII Ltd. Series 2014-1A, Class AR^(c)(3M USD LIBOR + 0.900%)
$	195,317		1.587	%	05/01/26	$ 192,506
Zais CLO Ltd. Series 2020-15A, Class A1^(c)(3M USD LIBOR + 2.555%)
	2,625,000		2.917		07/28/30	2,638,374

						39,403,449

Student Loan^(c) – 1.4%
Access to Loans for Learning Student Loan Corp. Series 2013-I, Class A(1M USD LIBOR + 0.800%)
	457,872		0.985		02/25/41	443,958
Educational Funding of the South, Inc. Series 2012-1, Class A(1M USD LIBOR + 1.050%)
	1,844,127		1.235		03/25/36	1,787,399
Educational Services of America, Inc. Series 2012-1, Class A1^(b)(1M USD LIBOR + 1.150%)
	27,776		1.335		09/25/40	27,333
Educational Services of America, Inc. Series 2014-1, Class A^(b)(1M USD LIBOR + 0.700%)
	527,400		0.885		02/25/39	505,264
Educational Services of America, Inc. Series 2015-2, Class A^(b)(1M USD LIBOR + 1.000%)
	433,945		1.185		12/25/56	427,444
Illinois Student Assistance Commission Series 2010-1, Class A3(3M USD LIBOR + 0.900%)
	1,486,318		1.891		07/25/45	1,443,299
Kentucky Higher Education Student Loan Corp. Series 2015-1, Class A1(1M USD LIBOR + 0.750%)
	1,562,883		0.923		12/01/31	1,504,024
Montana Higher Education Student Assistance Corp. Series 2012-1, Class A2(1M USD LIBOR + 1.000%)
	1,194,950		1.190		05/20/30	1,178,904
Navient Student Loan Trust Series 2016-7A, Class A^(b)(1M USD LIBOR + 1.150%)
	794,287		1.335		03/25/66	775,325
Northstar Education Finance, Inc. Series 2012-1, Class A^(b)(1M USD LIBOR + 0.700%)
	57,651		0.885		12/26/31	54,660
Pennsylvania Higher Education Assistance Agency Series 12-1A, Class A1^(b)(1M USD LIBOR + 0.550%)
	35,764		0.735		05/25/57	33,988
PHEAA Student Loan Trust Series 2016-1A, Class A^(b)(1M USD LIBOR + 1.150%)
	1,260,246		1.335		09/25/65	1,232,796

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Asset-Backed Securities – (continued)
Student Loan^(c) – (continued)
SLC Student Loan Center Series 2011-1, Class A^(b)(1M USD LIBOR + 1.220%)
$	2,643,308		1.405	%	10/25/27	$ 2,631,225
SLC Student Loan Trust Series 2005-3, Class A3(3M USD LIBOR + 0.120%)
	714,326		0.433		06/15/29	695,989
SLM Student Loan Trust Series 2005-5, Class A4(3M USD LIBOR + 0.140%)
	862,104		1.131		10/25/28	836,683
SLM Student Loan Trust Series 2007-7, Class A4(3M USD LIBOR + 0.330%)
	717,473		1.321		01/25/22	676,431
SLM Student Loan Trust Series 2008-4, Class A4(3M USD LIBOR + 1.650%)
	263,034		2.641		07/25/22	256,067
SLM Student Loan Trust Series 2012-3, Class A(1M USD LIBOR + 0.650%)
	884,506		0.835		12/27/38	844,492
South Texas Higher Education Authority, Inc. Series 2012-1, Class A2(3M USD LIBOR + 0.850%)
	207,177		2.283		10/01/24	203,288
Utah State Board of Regents Series 2011-1, Class A3(3M USD LIBOR + 0.850%)
	1,200,000		1.537		05/01/35	1,157,737

						16,716,306

TOTAL ASSET-BACKED SECURITIES (Cost $57,358,331)						$ 56,575,056



Foreign Debt Obligations – 1.2%
Sovereign – 1.2%
Abu Dhabi Government International Bond
$	870,000		2.500	%	10/11/22	900,450
Dominican Republic
	403,333		7.500		05/06/21	416,316
Perusahaan Penerbit SBSN Indonesia III^(b)
	3,530,000		2.300		06/23/25	3,534,412
Qatar Government International Bond
	870,000		2.375		06/02/21	879,516
	1,840,000		3.375	^(b)	03/14/24	1,969,950
	690,000		3.400	^(b)	04/16/25	752,100
Republic of Colombia^(a)
	1,510,000		4.000		02/26/24	1,591,162


Principal Amount		Interest Rate			Maturity Date	Value

Foreign Debt Obligations – (continued)
Sovereign – (continued)
Republic of Egypt^(b)
$	550,000		4.550	%	11/20/23	$ 544,500
Republic of Indonesia
	200,000		5.875		01/15/24	226,563
EUR	250,000		2.150	^(b)	07/18/24	289,564
Republic of Nigeria
$	1,390,000		6.750		01/28/21	1,408,678
Republic of Turkey
	200,000		4.250		03/13/25	186,375
Saudi Government International Bond^(b)
	800,000		2.900		10/22/25	848,000
Ukraine Government Bond
	1,500,000		7.750		09/01/21	1,550,250

TOTAL FOREIGN DEBT OBLIGATIONS (Cost $14,690,791)						$ 15,097,836



Municipal Debt Obligations – 0.7%
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	$ 393,680

Connecticut – 0.3%
Connecticut State GO Bonds Series A
	3,000,000		3.130		01/15/24	3,209,580

Illinois^(a) – 0.3%
Chicago Illinois GO Bonds Prerefunded Taxable Series B
	2,753,000		7.750		01/01/42	3,609,128

New Hampshire^(a)(c) – 0.1%
New Hampshire Higher Education Loan Corp. Series 2011-1, Class A3(3M USD LIBOR + 0.000%)
	1,484,683		1.841		10/25/37	1,403,186

Utah^(a)(c) – 0.0%
Utah State Board of Regents Student Loan RB (Taxable) Series 2011, Class A2(3M USD LIBOR + 0.000%)
	292,147		1.540		05/01/29	288,796

TOTAL MUNICIPAL DEBT OBLIGATIONS (Cost $8,422,428)						$ 8,904,370

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount			Interest Rate			Maturity Date	Value

U.S. Treasury Obligations⁽ⁱ⁾ – 0.2%
United States Treasury Notes
$		100,000		1.875	%	02/28/22	$ 102,836
		610,000		0.500		04/30/27	610,763
		850,000		2.875		08/15/28	1,006,187

TOTAL U.S. TREASURY OBLIGATIONS (Cost $1,602,406)							$ 1,719,786


	Shares		Dividend Rate				Value

Investment Company^(j) – 11.3%
Goldman Sachs Financial Square Government Fund - Institutional Shares
		138,714,692		0.155%			$ 138,714,692
(Cost $138,714,692)


	Shares		Description				Value

Exchange Traded Funds – 2.5%
		287,246		iShares 0-5 Year High Yield Corporate Bond ETF			12,319,981
		600,013		SPDR Portfolio Short Term Corporate Bond ETF			18,804,407

TOTAL EXCHANGE TRADED FUNDS (Cost $30,842,944)							$ 31,124,388

TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENT (Cost $1,286,628,857)							$1,308,236,446


Principal Amount			Interest Rate			Maturity Date	Value

Short-term Investment^(b)(h) – 0.2%
Commercial Paper – 0.2%
VW Credit, Inc.
$		2,500,000		0.000	%	01/29/21	$ 2,486,688
(Cost $2,470,556)

TOTAL INVESTMENTS — 106.9% (Cost $1,289,099,413)							$1,310,723,134

LIABILITIES IN EXCESS OF OTHER ASSETS — (6.9)%							(85,096,187)

NET ASSETS — 100.0%							$1,225,626,947



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 June 30, 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 June 30, 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 $152,268,310 which represents approximately 12.4% of the Fund’s net assets as of June 30, 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
CLP		— Chilean Peso
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
PLN		— Polish Zloty
RUB		— Russian Ruble
SEK		— Swedish Krona
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
PLC		— Public Limited Company
RB		— Revenue Bond
REMIC		— Real Estate Mortgage Investment Conduit
SOFR		— Secured Overnight Funding 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)

June 30, 2020 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS — At June 30, 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	4,700,316	USD	3,228,307		09/16/20	$	16,230
	BRL	9,734,741	USD	1,758,652		07/02/20		31,297
	CAD	3,248,204	EUR	2,117,599		09/16/20		9,772
	CAD	1,804,436	USD	1,326,654		09/16/20		2,691
	CHF	885,719	EUR	828,749		09/16/20		4,307
	CHF	2,225,005	USD	2,347,370		09/16/20		6,471
	CNH	104,500,488	USD	14,678,741		09/16/20		38,139
	COP	8,060,719,680	USD	2,116,528		07/06/20		27,277
	EUR	570,358	CAD	870,048		09/16/20		927
	EUR	279,802	GBP	253,960		09/16/20		73
	EUR	589,117	NOK	6,340,197		09/16/20		4,116
	EUR	1,568,237	USD	1,762,929		09/16/20		2,012
	GBP	548,077	EUR	599,813		09/16/20		4,382
	IDR	7,740,912,462	USD	517,763		07/20/20		13,542
	ILS	2,246,135	USD	644,018		09/16/20		5,764
	INR	236,070,435	USD	3,108,059		07/15/20		11,217
	INR	56,622,908	USD	742,012		07/28/20		5,328
	KRW	3,176,787,367	USD	2,625,734		07/15/20		22,461
	KRW	1,410,414,422	USD	1,167,987		09/02/20		7,916
	NOK	3,083,082	EUR	283,355		09/16/20		1,508
	RUB	329,549,114	USD	4,403,258		08/17/20		200,227
	SEK	24,470,672	EUR	2,319,176		09/16/20		18,542
	SEK	3,092,966	USD	330,806		09/16/20		1,437
	TRY	3,688,624	USD	504,041		07/13/20		32,600
	TRY	19,887,638	USD	2,830,424		09/16/20		9,792
	TWD	34,940,785	USD	1,172,510		07/06/20		16,996
	TWD	86,706,986	USD	2,944,810		07/15/20		12,860
	TWD	38,882,162	USD	1,307,303		07/20/20		20,044
	USD	752,239	AUD	1,080,162		09/16/20		6,624
	USD	6,926,734	BRL	36,264,335		07/02/20		258,729
	USD	1,486,521	BRL	7,693,339		08/04/20		74,309
	USD	4,561,433	CAD	6,116,922		09/16/20		55,041
	USD	7,394,303	CLP	5,943,134,641		07/03/20		158,233
	USD	2,200,513	CLP	1,784,492,359		08/27/20		26,165
	USD	1,128,896	CLP	917,115,340		09/16/20		11,063
	USD	1,636,366	COP	6,041,580,436		07/06/20		29,565
	USD	664,413	COP	2,480,589,780		07/27/20		5,914
	USD	5,997,088	EUR	5,301,219		09/16/20		30,937
	USD	17,898,112	GBP	14,163,777		09/16/20		339,808
	USD	45,265	HUF	13,844,254		09/16/20		1,360
	USD	1,913,416	IDR	27,387,650,102		07/20/20		33,638
	USD	664,166	ILS	2,277,511		09/16/20		5,307
	USD	4,623,736	JPY	494,897,945		09/16/20		35,502
	USD	3,683,783	MXN	84,213,344		09/17/20		57,638
	USD	663,545	NOK	6,319,335		09/16/20		6,818
	USD	2,463,466	PLN	9,650,934		09/16/20		23,493
	USD	5,251,456	RUB	367,019,300		08/17/20		124,550
	USD	663,333	SEK	6,145,648		09/16/20		3,175
	USD	616,230	TRY	4,210,944		07/13/20		3,598
	USD	607,945	TRY	4,188,375		07/27/20		1,104
	USD	344,038	TRY	2,375,134		07/29/20		114
	USD	616,230	TRY	4,303,995		09/16/20		1,562
	USD	1,287,615	ZAR	22,457,693		09/16/20		3,730

TOTAL							$	1,825,905

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

June 30, 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	AUD	9,730,031	USD	6,791,743		09/16/20	$	(75,290	)
	BRL	40,237,817	USD	7,805,552		07/02/20		(406,932	)
	BRL	3,722,489	USD	700,939		08/04/20		(17,628	)
	CAD	7,695,985	USD	5,726,732		09/16/20		(57,029	)
	CHF	5,111,731	USD	5,427,550		09/16/20		(19,833	)
	CLP	5,943,134,641	USD	7,505,241		07/03/20		(269,171	)
	CLP	3,597,725,362	USD	4,385,865		08/27/20		(2,151	)
	CNH	21,805,542	USD	3,074,000		09/16/20		(3,110	)
	COP	14,030,975,821	USD	3,772,934		07/06/20		(41,296	)
	EUR	480,702	CAD	740,517		09/16/20		(4,549	)
	EUR	1,155,131	CHF	1,235,591		09/16/20		(7,116	)
	EUR	291,902	GBP	265,748		09/16/20		(922	)
	EUR	1,641,857	PLN	7,336,153		09/16/20		(6,949	)
	EUR	2,023,486	SEK	21,286,268		09/16/20		(9,254	)
	EUR	20,469,878	USD	23,242,110		09/16/20		(204,693	)
	GBP	4,308,219	EUR	4,789,752		09/16/20		(49,794	)
	GBP	2,523,218	USD	3,149,043		09/16/20		(21,104	)
	IDR	42,329,219,016	USD	2,969,618		07/20/20		(64,310	)
	IDR	5,081,402,334	USD	348,698		08/03/20		(989	)
	INR	57,651,134	USD	764,807		07/28/20		(3,896	)
	JPY	140,433,671	AUD	1,920,573		09/16/20		(23,764	)
	JPY	37,863,121	GBP	284,238		09/16/20		(1,328	)
	JPY	646,369,996	USD	6,051,271		09/16/20		(58,728	)
	MXN	133,033,389	USD	5,957,359		09/17/20		(229,070	)
	NOK	6,002,780	EUR	567,837		09/16/20		(15,232	)
	NOK	6,202,724	SEK	6,119,422		09/16/20		(12,733	)
	NOK	63,157,061	USD	6,772,823		09/16/20		(209,329	)
	PLN	7,703,163	EUR	1,733,059		09/16/20		(2,903	)
	RUB	204,640,336	USD	2,930,321		08/17/20		(71,691	)
	SEK	16,271,263	USD	1,756,764		09/16/20		(8,924	)
	TRY	8,382,968	USD	1,208,146		09/16/20		(10,947	)
	USD	4,009,089	AUD	5,857,024		09/16/20		(33,902	)
	USD	2,452,583	BRL	13,708,222		07/02/20		(67,979	)
	USD	2,174,856	CAD	2,966,078		09/16/20		(10,280	)
	USD	6,625,770	CHF	6,324,371		09/16/20		(64,802	)
	USD	525,567	CLP	432,304,787		08/27/20		(1,183	)
	USD	12,239,857	CNH	87,141,811		09/16/20		(32,388	)
	USD	4,122,510	COP	16,050,115,064		07/06/20		(146,133	)
	USD	724,917	COP	2,734,714,389		07/27/20		(1,042	)
	USD	147,264	COP	586,478,946		08/25/20		(8,040	)
	USD	5,759,849	EUR	5,134,956		09/16/20		(19,185	)
	USD	1,116,667	IDR	16,902,869,615		07/20/20		(43,478	)
	USD	2,432,488	ILS	8,489,476		09/16/20		(23,422	)
	USD	2,586,322	INR	197,512,464		07/15/20		(23,474	)
	USD	4,383,575	INR	335,510,664		07/28/20		(44,675	)
	USD	1,316,006	KRW	1,587,967,326		07/15/20		(7,735	)
	USD	1,612,589	KRW	1,982,483,586		09/02/20		(40,265	)
	USD	349,418	MXN	8,141,204		09/17/20		(1,134	)
	USD	2,204,223	NOK	21,418,409		09/16/20		(21,650	)
	USD	662,164	NZD	1,036,583		09/16/20		(6,695	)
	USD	581,665	RUB	42,116,109		08/17/20		(6,656	)
	USD	990,470	THB	31,021,706		09/16/20		(13,086	)
	USD	1,298,780	TRY	9,424,657		07/13/20		(72,371	)
	USD	900,357	TRY	6,399,952		07/20/20		(28,823	)
	USD	583,000	TRY	4,046,481		07/27/20		(3,281	)
	USD	2,889,192	TRY	20,388,509		09/16/20		(22,555	)
	USD	1,959,612	TWD	57,868,252		07/15/20		(14,337	)
	USD	3,114,660	TWD	92,226,269		07/20/20		(33,730	)
	USD	3,422,139	TWD	100,640,169		08/06/20		(21,282	)
	USD	689,693	TWD	20,196,980		09/16/20		(4,508	)
	ZAR	18,970,535	USD	1,117,452		09/16/20		(32,928	)

TOTAL							$	(2,761,684	)

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

FUTURES CONTRACTS — At June 30, 2020, the Fund had the following futures contracts:


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

Long position contracts:
Ultra Long U.S. Treasury Bonds	12	09/21/20	$	2,617,875		$	16,018
Ultra 10 Year U.S. Treasury Notes	6	09/21/20		944,906			2,051
2 Year U.S. Treasury Notes	587	09/30/20		129,626,110			44,161
5 Year U.S. Treasury Notes	586	09/30/20		73,684,922			39,458
10 Year U.K. Long Gilt	7	09/28/20		1,193,849			187
10 Year U.S. Treasury Notes	190	09/21/20		26,442,656			109,768

Total						$	211,643

Short position contracts:
Eurodollars	(74)	09/14/20		(18,450,975	)		(344,358	)
20 Year U.S. Treasury Bonds	(23)	09/21/20		(4,106,937	)		(9,388	)

Total						$	(353,746	)

TOTAL FUTURES CONTRACTS						$	(142,103	)

SWAP CONTRACTS — At June 30, 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 CDOR^(a)	0.500%	09/16/23	CAD	80,830	^(b)	$	(263,652	)	$	(606,813	)	$	343,161
0.500%^(c)	3M LIBOR^(a)	09/16/23	$	44,880	^(b)		(364,040	)		(286,066	)		(77,974	)
6M CDOR^(a)	0.840	06/24/24	CAD	88,470	^(b)		16,097			37,401			(21,304	)
0.000^(c)	3M LIBOR	07/25/24	$	17,200			1,968			284			1,684
6M AUDOR^(a)	0.553	05/16/25	AUD	38,660	^(b)		7,479			(1,008,237	)		1,015,716
0.307^(a)	6M EURO^(d)	05/18/25	EUR	28,300	^(b)		(32,946	)		(651,259	)		618,313
6M GBP^(d)	0.032	06/17/25	GBP	11,900			23,891			(251,825	)		275,716
6M GBP^(d)	0.270	06/17/25		12,500			209,598			(1,048,905	)		1,258,503
3M LIBOR^(c)	0.500^(a)	09/16/25	$	5,140	^(b)		40,403			41,133			(730	)
3M NIBOR^(a)	0.500^(d)	09/16/25	NOK	27,500	^(b)		(24,684	)		(26,880	)		2,196
1.000^(a)	6M GBP	09/16/25	GBP	2,450	^(b)		(115,729	)		(114,401	)		(1,328	)
6M AUDOR^(a)	0.960	04/21/27	AUD	4,150	^(b)		12,653			760			11,893
6M CHFOR^(a)	0.500^(d)	09/16/27	CHF	15,970	^(b)		(96,393	)		(89,770	)		(6,623	)
6M AUDOR^(a)	1.250	09/16/27	AUD	12,270	^(b)		344,624			330,714			13,910
0.000^(a)	6M EURO^(d)	09/16/27	EUR	14,670	^(b)		(335,023	)		(342,090	)		7,067
1.000^(a)	6M GBP	09/16/27	GBP	7,090	^(b)		(433,694	)		(348,840	)		(84,854	)
6M AUDOR^(a)	1.000	04/26/28	AUD	18,360	^(b)		30,767			(702,029	)		732,796
0.500^(a)	6M GBP	03/10/30	GBP	11,040	^(b)		(12,057	)		(373,376	)		361,319
0.570^(d)	6M GBP	03/18/30		3,320			(190,607	)		1,017			(191,624	)
6M JYOR^(a)	0.250	03/19/30	JPY	221,600	^(b)		15,727			15,729			(2	)
6M AUDOR^(a)	1.750	03/19/30	AUD	12,720	^(b)		190,585			(179,487	)		370,072
6M EURO^(a)	0.050^(d)	05/21/30	EUR	5,800	^(b)		18,427			(3,586	)		22,013
3M LIBOR^(c)	0.980^(a)	05/21/30	$	7,420	^(b)		10,813			(10,639	)		21,452
6M CHFOR^(a)	0.500^(d)	06/17/30	CHF	9,390			(202,264	)		(191,140	)		(11,124	)
0.308^(d)	6M GBP	06/17/30	GBP	7,400			(179,321	)		(329,822	)		150,501
3M LIBOR^(c)	1.750^(a)	06/18/30	$	12,040	^(b)		466,391			284,369			182,022
0.250^(a)	6M EURO^(d)	06/18/30	EUR	18,270	^(b)		(262,507	)		(663,010	)		400,503
1.000^(a)	6M GBP	06/18/30	GBP	8,680	^(b)		(270,442	)		(209,229	)		(61,213	)
1.140^(a)	6M CDOR	06/24/30	CAD	19,010	^(b)		(11,937	)		(19,797	)		7,860
3M NIBOR^(a)	0.750^(d)	09/16/30	NOK	27,750	^(b)		(46,006	)		(84,246	)		38,240
6M AUDOR^(a)	1.500	09/16/30	AUD	10,010	^(b)		396,618			281,942			114,676
0.250^(a)	6M EURO^(d)	09/16/30	EUR	9,310	^(b)		(443,249	)		(407,996	)		(35,253	)
1.000^(a)	6M GBP	09/16/30	GBP	2,070	^(b)		(160,978	)		(173,897	)		12,919
0.100^(a)	6M CHFOR^(d)	09/17/30	CHF	3,970	^(b)		9,205			(5,147	)		14,352
6M EURO^(a)	0.053^(d)	12/15/30	EUR	1,090	^(b)		11,920			8,601			3,319
6M EURO^(a)	0.020^(d)	04/07/31		470	^(b)		7,987			6,485			1,502

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

CENTRALLY CLEARED INTEREST RATE SWAP CONTRACTS (continued)


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

1.160%^(c)	3M LIBOR^(a)		05/21/35	$	7,440	^(b)	$	(1,369	)	$	9,017		$	(10,386	)
1.363^(a)	6M AUDOR		04/21/40	AUD	1,200	^(b)		14,174			(517	)		14,691
0.260^(a)	6M EURO^(d)		05/21/40	EUR	2,760	^(b)		20,464			12,015			8,449
0.400^(d)	6M GBP		06/17/40	GBP	3,000			(153,388	)		(228,901	)		75,513
3M LIBOR^(c)	1.750%^(a)		06/19/40	$	2,770	^(b)		151,407			130,612			20,795
0.750^(a)	6M EURO^(d)		06/19/40	EUR	4,330	^(b)		(210,871	)		(280,444	)		69,573
1.500^(a)	6M GBP		06/19/40	GBP	2,150	^(b)		(248,691	)		(279,950	)		31,259
6M JYOR^(a)	0.500		06/20/40	JPY	436,030	^(b)		29,708			37,933			(8,225	)
0.855^(c)	3M LIBOR^(a)		04/09/45	$	4,530	^(b)		34,744			163			34,581
3M LIBOR^(c)	0.845^(a)		04/10/50		4,680	^(b)		(26,694	)		168			(26,862	)
6M CDOR^(a)	1.750		06/17/50	CAD	3,270			232,930			102,653			130,277
6M JYOR^(a)	0.500		06/20/50	JPY	462,390	^(b)		4,430			40,416			(35,986	)
3M LIBOR^(c)	1.750^(a)		06/20/50	$	520	^(b)		32,454			24,808			7,646
0.500^(a)	6M EURO^(d)		06/20/50	EUR	700	^(b)		(43,582	)		(40,471	)		(3,111	)
1.000^(a)	6M GBP		06/20/50	GBP	1,860	^(b)		(133,899	)		(235,161	)		101,262
0.750^(c)	3M LIBOR^(a)		09/16/50	$	1,990	^(b)		96,642			178,279			(81,637	)
0.500^(a)	6M EURO^(d)		09/16/50	EUR	680	^(b)		(108,715	)		(103,895	)		(4,820	)

TOTAL							$	(1,940,632	)	$	(7,753,327	)	$	5,812,695

(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 June 30, 2020.

(c)

Payments made quarterly.

(d)

Payments made annually.

OVER THE COUNTER CREDIT DEFAULT SWAP CONTRACTS


Reference Obligation/ Index	Financing Rate Paid by the Fund^(a)		Credit Spread at June 30, 2020 ^(b)		Counterparty	Termination Date		Notional Amount (000s)		Value			Upfront Premiums (Received) Paid			Unrealized Appreciation/ (Depreciation)

Protection Sold:
Markit CMBX Series 10		3.000%		7.040%	MS & Co. Int. PLC		11/17/59	$	1,300	$	(264,888	)	$	(249,073	)	$	(15,815	)

(a)

Payments made monthly.

(b)

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

CENTRALLY CLEARED CREDIT DEFAULT SWAP CONTRACTS


Referenced Obligation/Index	Financing Rate Received/(Paid) by the Fund^(a)	Credit Spread at June 30, 2020^(b)		Termination Date		Notional Amount (000s)		Value			Upfront Premiums (Received) Paid			Unrealized Appreciation/ (Depreciation)

Protection Sold:
AT&T, Inc., 2.450%, 06/30/20	1.000%		0.955%		06/20/24	$	3,425	$	7,090		$	6,335		$	755
CDX.NA.HY Index 34	5.000		5.148		06/20/25		11,030		(54,579	)		(632,709	)		578,130
CDX.NA.IG Index 28	1.000		0.841		06/20/22		21,975		75,492			299,521			(224,029	)
CDX.NA.IG Index 32	1.000		0.685		06/20/24		225		2,843			3,360			(517	)
CDX.NA.IG Index 33	1.000		0.724		12/20/24		1,650		20,504			(7,216	)		27,720
CDX.NA.IG Index 34	1.000		0.755		06/20/25		31,700		385,722			325,604			60,118
CDX.NA.IG Index 34	1.000		0.622		06/20/23		37,100		423,819			471,556			(47,737	)

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

CENTRALLY CLEARED CREDIT DEFAULT SWAP CONTRACTS (continued)


Referenced Obligation/Index	Financing Rate Received/(Paid) by the Fund^(a)		Credit Spread at June 30, 2020^(b)		Termination Date		Notional Amount (000s)		Value			Upfront Premiums (Received) Paid			Unrealized Appreciation/ (Depreciation)

Protection Sold (continued):
General Electric Co. 2.700%, 10/09/22		1.000%		1.566%		06/20/24	$	2,025	$	(43,320	)	$	(27,478	)	$	(15,842	)
General Electric Co. 2.700%, 10/09/22		1.000		1.699		12/20/24		825		(24,433	)		(11,738	)		(12,695	)
Republic of Indonesia, 5.875%, 03/13/20		1.000		1.074		06/20/24		120		(312	)		(217	)		(95	)

TOTAL									$	792,826		$	427,018		$	365,808

(a)

Payments made quarterly.

(b)

WRITTEN OPTIONS CONTRACTS — At June 30, 2020, the Fund had the following written options:

OVER-THE-COUNTER INTEREST RATE SWAPTIONS


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

Written option contracts
Calls
1Y IRS	BofA Securities LLC		0.256	%		08/27/2020	(5,180,000)	$	(5,180,000	)	$	(18,477	)	$	(93,059	)	$	74,582
6M IRS	Citibank NA		0.053			12/11/2020	(980,000)		(980,000	)		(20,048	)		(15,274	)		(4,774	)
1Y IRS	JPMorgan Securities, Inc.		0.020			04/01/2021	(1,610,000)		(1,610,000	)		(46,582	)		(42,915	)		(3,667	)
1Y IRS	JPMorgan Securities, Inc.		0.490			05/18/2021	(7,000,000)		(7,000,000	)		(77,558	)		(70,700	)		(6,858	)
1Y IRS	JPMorgan Securities, Inc.		0.480			05/19/2021	(6,800,000)		(6,800,000	)		(73,456	)		(69,139	)		(4,317	)
3M IRS	JPMorgan Securities, Inc.		0.340			08/13/2020	(10,670,000)		(10,670,000	)		(84,730	)		(64,630	)		(20,100	)
3M IRS	JPMorgan Securities, Inc.		0.350			09/28/2020	(25,150,000)		(25,150,000	)		(87,433	)		(50,959	)		(36,474	)
6M IRS	JPMorgan Securities, Inc.		0.350			08/13/2020	(17,600,000)		(17,600,000	)		(41,730	)		(46,367	)		4,637
6M IRS	JPMorgan Securities, Inc.		0.350			10/02/2020	(5,420,000)		(5,420,000	)		(68,298	)		(60,804	)		(7,494	)
6M IRS	JPMorgan Securities, Inc.		0.410			11/23/2020	(6,400,000)		(6,400,000	)		(44,685	)		(45,120	)		435
6M IRS	JPMorgan Securities, Inc.		0.053			12/11/2020	(1,040,000)		(1,040,000	)		(21,277	)		(16,166	)		(5,111	)
6M IRS	MS & Co. Int. PLC		0.350			08/13/2020	(17,600,000)		(17,600,000	)		(41,730	)		(45,794	)		4,064
6M IRS	MS & Co. Int. PLC		0.350			10/02/2020	(12,460,000)		(12,460,000	)		(159,788	)		(141,083	)		(18,705	)
6M IRS	MS & Co. Int. PLC		0.350			10/21/2020	(10,390,000)		(10,390,000	)		(146,606	)		(107,660	)		(38,946	)
6M IRS	MS & Co. Int. PLC		0.053			12/11/2020	(1,570,000)		(1,570,000	)		(32,118	)		(24,420	)		(7,698	)

							(129,870,000)	$	(129,870,000	)	$	(964,516	)	$	(894,090	)	$	(70,426	)

Puts
6M IRS	Citibank NA		0.053			12/11/2020	(980,000)		(980,000	)		(9,433	)		(15,274	)		5,841
1Y IRS	JPMorgan Securities, Inc.		0.020			04/01/2021	(1,610,000)		(1,610,000	)		(19,363	)		(42,915	)		23,552

GOLDMAN SACHS SHORT DURATION INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

OVER-THE-COUNTER INTEREST RATE SWAPTIONS (continued)


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

Puts (continued)
1Y IRS	JPMorgan Securities, Inc.		0.490	%		05/18/2021		(7,000,000)	$	(7,000,000	)	$	(49,771	)	$	(70,700	)	$	20,929
1Y IRS	JPMorgan Securities, Inc.		0.480			05/19/2021		(6,800,000)		(6,800,000	)		(49,977	)		(69,139	)		19,162
3M IRS	JPMorgan Securities, Inc.		0.150			09/28/2020		(25,150,000)		(25,150,000	)		(20,329	)		(48,945	)		28,616
6M IRS	JPMorgan Securities, Inc.		0.410			11/23/2020		(6,400,000)		(6,400,000	)		(28,697	)		(45,120	)		16,423
6M IRS	JPMorgan Securities, Inc.		0.053			12/11/2020		(1,040,000)		(1,040,000	)		(10,011	)		(16,166	)		6,155
6M IRS	MS & Co. Int. PLC		0.053			12/11/2020		(1,570,000)		(1,570,000	)		(15,112	)		(24,421	)		9,309

								(50,550,000)	$	(50,550,000	)	$	(202,693	)	$	(332,680	)	$	129,987

TOTAL								(180,420,000)	$	(180,420,000	)	$	(1,167,209	)	$	(1,226,770	)	$	59,561



Abbreviations:
1Y IRS		— 1 Year Interest Rate Swaptions
3M IRS		— 3 Months Interest Rate Swaptions
6M IRS		— 6 Months Interest Rate Swaptions\
BofA Securities LLC		— Bank of America Securities LLC
CDX.NA.HY Index 34		— CDX North America High Yield Index 34
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

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – 53.4%
Advertising – 0.4%
The Interpublic Group of Cos., Inc.
$	15,100,000		3.500	%	10/01/20	$ 15,203,284

Automotive – 3.7%
BMW US Capital LLC^(a)(b)
	10,595,000		2.000		04/11/21	10,688,448
Daimler Finance North America LLC^(b)
	5,000,000		3.350		05/04/21	5,090,900
(3M USD LIBOR + 0.900%)
	38,000,000		1.292	^(c)	02/15/22	37,489,660
Harley-Davidson Financial Services, Inc.^(b)
	9,000,000		2.850	^(a)	01/15/21	9,045,630
	5,000,000		3.550		05/21/21	5,077,550
Toyota Motor Credit Corp.^(c)(SOFR + 0.400%)
	33,150,000		0.480		10/23/20	33,147,680
Volkswagen Group of America Finance LLC^(b)
(3M USD LIBOR + 0.770%)
	18,008,000		1.204	^(c)	11/13/20	18,015,563
	8,000,000		3.875		11/13/20	8,086,160
	20,000,000		2.500		09/24/21	20,348,800
(3M USD LIBOR + 0.940%)
	5,500,000		1.375	^(c)	11/12/21	5,460,070
	3,150,000		4.000		11/12/21	3,279,087

						155,729,548

Banks – 35.2%
ABN AMRO Bank NV^(b)
	7,307,000		2.650		01/19/21	7,397,534
(3M USD LIBOR + 0.570%)
	38,650,000		0.939	^(c)	08/27/21	38,821,606
Bank of America Corp.
	5,000,000		5.625		07/01/20	5,000,000
(3M USD LIBOR + 0.630%)
	25,000,000		2.328	^(a)(c)	10/01/21	25,100,250
(3M USD LIBOR + 0.380%)
	10,935,000		1.423	^(a)(c)	01/23/22	10,924,393
Bank of Montreal^(c)(SOFR + 0.680%)
	53,257,000		0.761		03/10/23	52,881,538
Banque Federative du Credit Mutuel SA^(b)
	30,000,000		2.750		10/15/20	30,170,700
Barclays Bank PLC
(3M USD LIBOR + 0.400%)
	15,500,000		0.774	^(c)	08/21/20	15,448,230
	6,500,000		1.700	^(a)	05/12/22	6,616,675


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Banks – (continued)
BBVA USA^(a)(c)(3M USD LIBOR + 0.730%)
$	12,142,000		1.045	%	06/11/21	$ 12,100,717
BNP Paribas SA
	6,000,000		5.000		01/15/21	6,146,160
(3M USD LIBOR + 0.390%)
	32,050,000		0.864	^(b)(c)	08/07/21	32,122,433
BNZ International Funding Ltd.^(b)(c) (3M USD LIBOR + 0.980%)
	13,145,000		1.293		09/14/21	13,234,255
BPCE SA^(b)(c)
(3M USD LIBOR + 0.300%)
	26,230,000		1.611		01/14/22	26,066,063
(SOFR + 0.440%)
	28,000,000		0.513		02/17/22	27,837,880
Citibank NA^(a)(c)
(3M USD LIBOR + 0.600%)
	30,000,000		0.977		05/20/22	30,045,000
(3M USD LIBOR + 0.596%)
	10,100,000		2.844		05/20/22	10,291,193
Citigroup, Inc.
(3M USD LIBOR + 1.190%)
	6,588,000		1.746	^(c)	08/02/21	6,643,603
	4,825,000		4.500		01/14/22	5,102,582
(3M USD LIBOR + 0.960%)
	8,664,000		1.951	^(a)(c)	04/25/22	8,693,024
	3,000,000		2.750	^(a)	04/25/22	3,109,830
Citizens Bank NA^(a)(c)(3M USD LIBOR + 0.720%)
	15,000,000		1.144		02/14/22	15,010,500
Cooperatieve Rabobank UA
	16,805,000		2.750		01/10/22	17,396,200
	9,251,000		3.875		02/08/22	9,760,638
Credit Agricole Corporate & Investment Bank SA^(a)(c)(3M USD LIBOR + 0.625%)
	30,644,000		2.062		10/03/21	30,518,666
Credit Suisse AG^(c)(SOFR + 0.450%)
	50,900,000		0.518		02/04/22	50,633,284
DNB Bank ASA^(b)
	10,000,000		2.125		10/02/20	10,044,000
Federation des Caisses Desjardins du Quebec^(b)
	17,000,000		2.250		10/30/20	17,077,520
Fifth Third Bank NA^(c)(3M USD LIBOR + 0.640%)
	20,000,000		1.327		02/01/22	20,073,000
HSBC Holdings PLC^(c)
(3M USD LIBOR + 1.660%)
	9,268,000		2.020		05/25/21	9,368,465
(3M USD LIBOR + 0.650%)
	30,500,000		0.968	^(a)	09/11/21	30,505,185
ING Bank NV^(b)
	12,000,000		2.700		08/17/20	12,001,200

GOLDMAN SACHS SHORT-TERM CONSERVATIVE INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Banks – (continued)
$	11,520,000		2.750	%	03/22/21	$ 11,720,102
(3M USD LIBOR + 0.880%)
	4,400,000		1.272	^(c)	08/15/21	4,422,176
ING Groep NV^(c)(3M USD LIBOR + 1.150%)
	12,960,000		1.456		03/29/22	13,040,222
JPMorgan Chase & Co.
	14,775,000		2.400	^(a)	06/07/21	15,024,550
	7,061,000		4.350		08/15/21	7,368,224
	9,428,000		4.500		01/24/22	10,008,765
KeyBank NA
	5,000,000		3.300		02/01/22	5,212,150
Lloyds Bank PLC^(c)(3M USD LIBOR + 0.490%)
	18,351,000		0.964		05/07/21	18,381,830
Macquarie Bank Ltd.^(b)
	15,370,000		2.850		01/15/21	15,536,457
(3M USD LIBOR + 0.450%)
	11,400,000		0.951	^(c)	08/06/21	11,424,510
(3M USD LIBOR + 0.450%)
	14,662,000		0.810	^(c)	11/24/21	14,703,493
Mitsubishi UFJ Financial Group, Inc.
	13,859,000		2.950		03/01/21	14,043,463
(3M USD LIBOR + 0.700%)
	12,500,000		1.018	^(c)	03/07/22	12,529,875
	6,630,000		3.218		03/07/22	6,906,338
Mizuho Bank Ltd.^(b)
	20,000,000		2.700		10/20/20	20,125,400
Mizuho Financial Group, Inc.
	20,190,000		2.632	^(b)	04/12/21	20,507,185
(3M USD LIBOR + 1.140%)
	10,446,000		1.453	^(c)	09/13/21	10,535,731
(3M USD LIBOR + 0.940%)
	27,475,000		1.311	^(c)	02/28/22	27,643,147
Morgan Stanley, Inc.
	6,256,000		5.750		01/25/21	6,441,803
(SOFR + 0.830%)
	11,195,000		0.911	^(a)(c)	06/10/22	11,185,708
(SOFR + 0.700%)
	64,982,000		0.761	^(a)(c)	01/20/23	64,694,130
MUFG Union Bank NA^(a)
	12,590,000		3.150		04/01/22	13,120,291
(SOFR + 0.710%)
	17,250,000		0.791	^(c)	12/09/22	17,158,920
National Australia Bank Ltd.^(b)(c)(3M USD LIBOR + 0.710%)
	12,000,000		1.266		11/04/21	12,074,880
National Australia Bank Ltd.^(b)(c)(3M USD LIBOR + 0.350%)
	4,950,000		1.661		01/12/21	4,956,287


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Banks – (continued)
Nordea Bank Abp^(b)
$	14,115,000		2.500	%	09/17/20	$ 14,172,025
	9,300,000		4.875		01/14/21	9,519,852
PNC Bank NA^(a)(c)(3M USD LIBOR + 0.325%)
	33,500,000		0.685		02/24/23	33,445,730
Regions Bank^(a)(c)(3M USD LIBOR + 0.500%)
	7,790,000		3.374		08/13/21	7,804,567
Royal Bank of Canada^(c)(3M USD LIBOR + 0.400%)
	11,052,000		1.391		01/25/21	11,075,651
Santander UK PLC
(3M USD LIBOR + 0.620%)
	13,350,000		0.970	^(c)	06/01/21	13,385,378
	31,650,000		3.400		06/01/21	32,483,978
(3M USD LIBOR + 0.660%)
	21,800,000		1.052	^(c)	11/15/21	21,905,294
Skandinaviska Enskilda Banken AB^(b)
	12,000,000		3.250		05/17/21	12,294,360
	5,100,000		3.050		03/25/22	5,310,579
Societe Generale SA^(b)
	4,900,000		2.500		04/08/21	4,974,725
Standard Chartered PLC^(b)
	20,058,000		3.050		01/15/21	20,257,978
(3M USD LIBOR + 1.200%)
	10,000,000		1.510	^(a)(c)	09/10/22	10,017,200
Sumitomo Mitsui Financial Group, Inc.
	27,922,000		2.934		03/09/21	28,393,323
Svenska Handelsbanken AB^(c) (3M USD LIBOR + 1.150%)
	5,000,000		1.458		03/30/21	5,037,700
The Huntington National Bank^(a)(c)(3M USD LIBOR + 0.550%)
	15,000,000		1.091		02/05/21	15,040,500
The Toronto-Dominion Bank^(c)
(3M USD LIBOR + 0.300%)
	19,500,000		1.060		07/30/21	19,497,660
(3M USD LIBOR + 0.350%)
	15,000,000		2.750		07/22/22	14,859,000
Truist Bank^(a)(c)(SOFR + 0.730%)
	16,760,000		0.810		03/09/23	16,626,590
Truist Financial Corp.^(a)
	25,000,000		2.900		03/03/21	25,355,250
(3M USD LIBOR + 0.650%)
	10,000,000		0.946	^(c)	04/01/22	10,029,800
UBS AG^(a)(b)
	17,500,000		1.750		04/21/22	17,826,200
UBS Group AG^(b)
	28,450,000		3.000		04/15/21	29,002,784

GOLDMAN SACHS SHORT-TERM CONSERVATIVE INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Banks – (continued)
US Bank NA^(a)(c)
(3M USD LIBOR + 0.380%)
$	15,400,000		0.766	%	11/16/21	$ 15,439,732
(3M USD LIBOR + 0.440%)
	15,000,000		0.800		05/23/22	15,047,100
Wells Fargo & Co.
(3M USD LIBOR + 1.340%)
	5,828,000		1.671	^(c)	03/04/21	5,869,729
	9,612,000		2.100		07/26/21	9,778,960
Wells Fargo Bank NA^(a)(c)
(3M USD LIBOR + 0.490%)
	11,957,000		3.325		07/23/21	12,014,633
(3M USD LIBOR + 0.620%)
	26,000,000		0.989		05/27/22	26,035,880
Westpac Banking Corp.^(c)
(3M USD LIBOR + 0.850%)
	18,690,000		2.161		01/11/22	18,849,986
(3M USD LIBOR + 0.390%)
	25,000,000		1.701		01/13/23	24,984,500

						1,471,244,605

Chemicals^(c) – 0.2%
DuPont de Nemours, Inc. (3M USD LIBOR + 0.710%)
	10,000,000		1.102		11/15/20	10,013,700

Computers – 1.0%
Hewlett Packard Enterprise Co.
	11,559,000		3.600	^(a)	10/15/20	11,630,781
(3M USD LIBOR + 0.680%)
	9,670,000		0.998	^(c)	03/12/21	9,662,748
(3M USD LIBOR + 0.720%)
	19,233,000		2.093	^(a)(c)	10/05/21	19,184,533

						40,478,062

Diversified Financial Services – 3.5%
AIG Global Funding^(b)(c) (3M USD LIBOR + 0.480%)
	4,925,000		1.931		07/02/20	4,925,000
Air Lease Corp.
	6,555,000		3.875	^(a)	04/01/21	6,603,900
	18,295,000		3.375		06/01/21	18,359,947
American Express Co.^(a)
	8,000,000		3.000		02/22/21	8,109,120
	15,607,000		3.375		05/17/21	15,964,557
	13,038,000		3.700		11/05/21	13,555,869
(3M USD LIBOR + 0.620%)
	20,000,000		0.997	^(c)	05/20/22	20,063,200
Capital One Financial Corp.^(a)(c)(3M USD LIBOR + 0.950%)
	15,000,000		1.263		03/09/22	14,973,900


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Diversified Financial Services – (continued)
GE Capital International Funding Co. Unlimited Co.
$	43,194,000		2.342	%	11/15/20	$ 43,466,554

						146,022,047

Electrical^(a)(b)(c) – 0.4%
Southern Power Co. (3M USD LIBOR + 0.550%)
	15,300,000		0.856		12/20/20	15,286,995

Food & Beverage – 0.3%
Mondelez International, Inc.
	15,000,000		0.625		07/01/22	14,996,625

Insurance – 4.3%
Jackson National Life Global Funding^(b)(c)
(3M USD LIBOR + 0.480%)
	25,000,000		0.795		06/11/21	25,022,250
(SOFR + 0.600%)
	50,000,000		0.648		01/06/23	49,192,500
Metropolitan Life Global Funding I^(b)(c)
(3M USD LIBOR + 0.230%)
	19,000,000		1.582		01/08/21	19,014,440
(SOFR + 0.570%)
	41,000,000		0.624		01/13/23	40,716,690
Protective Life Global Funding^(b)
	13,355,000		2.700		11/25/20	13,476,798
	17,255,000		3.397		06/28/21	17,745,387
	4,194,000		1.999		09/14/21	4,253,387
Reinsurance Group of America, Inc.
	9,125,000		5.000		06/01/21	9,496,570

						178,918,022

Machinery - Construction & Mining – 0.5%
Caterpillar Financial Services Corp.
	13,030,000		2.750		08/20/21	13,353,405
	8,220,000		0.950		05/13/22	8,323,654

						21,677,059

Oil Field Services^(a)(c) – 0.2%
Phillips 66(3M USD LIBOR + 0.600%)
	6,807,000		0.960		02/26/21	6,794,135

Pharmaceuticals – 2.6%
AbbVie, Inc.^(b)(c) (3M USD LIBOR + 0.460%)
	33,642,000		0.841		11/19/21	33,610,040
Bayer US Finance II LLC^(a)(b)
	27,750,000		3.500		06/25/21	28,441,252

GOLDMAN SACHS SHORT-TERM CONSERVATIVE INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Pharmaceuticals – (continued)
Bayer US Finance LLC^(b)
$	25,413,000		3.000	%	10/08/21	$ 26,051,629
McKesson Corp.
	18,970,000		3.650		11/30/20	19,205,607

						107,308,528

Pipeline^(a)(c) – 0.9%
MPLX LP(3M USD LIBOR + 1.100%)
	40,000,000		1.413		09/09/22	39,404,000

Telecommunication Services^(c) – 0.2%
AT&T, Inc.(3M USD LIBOR + 0.950%)
	8,133,000		2.169		07/15/21	8,196,356

TOTAL CORPORATE OBLIGATIONS (Cost $2,224,894,329)						$2,231,272,966



Municipal Debt Obligations – 0.4%
Connecticut^(a) – 0.1%
State of Connecticut GO Bonds Taxable Series A
$	1,475,000		3.000	%	07/01/21	$ 1,506,713

New York – 0.3%
New York State Dormitory Authority Personal Income Tax Revenue Note Series 2020
	12,440,000		5.000		03/31/21	12,877,639

TOTAL MUNICIPAL DEBT OBLIGATIONS (Cost $14,349,600)						$ 14,384,352



U.S. Treasury Obligations^(d)– 3.1%
United States Treasury Bills
$	100,000		0.000	%	08/11/20	$ 99,986
	4,600,000		0.000		09/03/20	4,598,865
	1,000,000		0.000		09/08/20	999,751
	100,000		0.000		09/10/20	99,975
	400,000		0.000		09/15/20	399,886
	2,000,000		0.000		09/17/20	1,999,393
	3,700,000		0.000		09/22/20	3,698,891
	2,400,000		0.000		09/24/20	2,399,263
	5,000,000		0.000		09/29/20	4,998,313
	100,000		0.000		10/06/20	99,964
	900,000		0.000		10/08/20	899,635


Principal Amount		Interest Rate			Maturity Date	Value

U.S. Treasury Obligations^(d)– (continued)
United States Treasury Bills – (continued)
$	7,100,000		0.000	%	10/13/20	$ 7,096,718
	2,100,000		0.000		10/15/20	2,099,057
	400,000		0.000		10/20/20	399,821
	25,500,000		0.000		10/22/20	25,487,994
	300,000		0.000		10/27/20	299,862
	100,000		0.000		10/29/20	99,949
	2,600,000		0.000		11/03/20	2,598,420
	11,000,000		0.000		11/05/20	10,993,985
	61,000,000		0.000		11/24/20	60,964,129

TOTAL U.S. TREASURY OBLIGATIONS (Cost $130,324,493)						$ 130,333,857


Shares		Dividend Rate	Value

Investment Companies^(e) – 12.2%
Goldman Sachs Financial Square Government Fund - Institutional Shares
	312,121,365	0.155%	$ 312,121,365
Goldman Sachs Financial Square Money Market Fund - Institutional Shares
	198,710,897	0.280	198,949,350

TOTAL INVESTMENT COMPANIES (Cost $510,875,034)			$ 511,070,715

TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENT (Cost $2,880,443,456)			$2,887,061,890


Principal Amount		Interest Rate			Maturity Date	Value

Short-term Investments – 31.0%
Certificates of Deposit – 14.6%
Banco Del Estado De Chile
$	15,000,000		1.000	%	07/22/20	$ 15,006,539
(3M USD LIBOR + 0.070%)
	13,022,000		1.113	^(c)	07/23/20	13,023,214
Bank of Montreal^(c)
(FEDL01 + 0.360%)
	5,000,000		0.440		08/03/20	5,000,488
(FEDL01 + 0.210%)
	20,000,000		0.290		02/08/21	19,989,214
Bayerische Landesbank^(c)
(3M USD LIBOR + 0.470%)
	39,075,000		1.357		01/28/22	38,831,262
(3M USD LIBOR + 0.470%)
	13,000,000		1.026		02/03/22	12,973,269

GOLDMAN SACHS SHORT-TERM CONSERVATIVE INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Short-term Investments – (continued)
Certificates of Deposit – (continued)
Canadian Imperial Bank of Commerce^(b)(c) (FEDL01 + 0.350%)
$	40,000,000		0.430	%	08/27/20	$ 40,006,720
Credit Agricole Corporate & Investment Bank^(c)
(3M USD LIBOR + 0.480%)
	30,000,000		0.790		09/10/21	30,082,081
(3M USD LIBOR + 0.480%)
	2,500,000		0.779		09/17/21	2,505,438
Credit Industriel ET Commercial^(c) (FEDL01 + 0.160%)
	40,000,000		0.240		11/25/20	39,985,613
Credit Suisse AG^(c)
(SOFR + 0.480%)
	10,000,000		0.560		10/02/20	10,009,656
(3M USD LIBOR + 0.260%)
	5,900,000		0.557		02/05/21	5,905,681
DNB Bank ASA^(b)(c) (1M USD LIBOR + 0.100%)
	30,000,000		0.285		02/24/21	30,003,683
DZ Bank AG Deutsche Zentral-Genossenschaftsbank^(c) (3M USD LIBOR + 0.200%)
	50,000,000		0.586		02/17/22	49,677,165
First Abu Dhabi Bank USA NV^(c) (3M USD LIBOR + 0.200%)
	20,000,000		1.309		01/21/21	19,994,481
MUFG Bank Ltd.^(c) (3M USD LIBOR + 0.460%)
	2,780,000		1.016		02/04/21	2,786,240
National Bank of Canada^(b)(c) (FEDL01 + 0.360%)
	18,836,000		0.440		08/19/20	18,838,757
National Bank Of Kuwait Sakp
	32,500,000		0.500		09/09/20	32,504,283
	10,000,000		0.500		09/18/20	10,000,886
Natixis SA^(c) (3M USD LIBOR + 0.520%)
	25,000,000		1.618		01/22/21	25,072,851
Norinchukin Bank
	25,000,000		0.290		08/21/20	25,001,658
	15,000,000		0.300		09/01/20	15,000,916
Sumitomo Mitsui Banking Corp.^(c)
(3M USD LIBOR + 0.350%)
	35,000,000		1.526		07/16/21	35,054,361
(3M USD LIBOR + 0.370%)
	25,250,000		0.911		11/05/21	25,256,746
Svenska Handelsbanken^(c)
(3M USD LIBOR + 0.120%)
	5,000,000		0.436		06/18/21	5,000,000
(3M USD LIBOR + 0.260%)
	39,350,000		1.633		01/06/22	39,267,263
Swedbank AB^(c)
	1,000,000		0.680		08/24/20	1,000,544


Principal Amount		Interest Rate			Maturity Date	Value

Short-term Investments – (continued)
Certificates of Deposit – (continued)
The Toronto-Dominion Bank^(b)(c) (3M USD LIBOR + 0.190%)
$	17,950,000		0.474	%	09/28/20	$ 17,960,524
Westpac Banking Corp.^{(b) (c)} (FEDL01 + 0.350%)
	25,250,000		0.430		09/04/20	25,254,481

						610,994,014

Commercial Paper – 14.9%
Albion Capital Corp.^(d)
	30,000,000		0.000		08/20/20	29,993,880
	20,000,000		0.000		08/27/20	19,995,199
BASF SE^(d)
	7,500,000		0.000		07/06/20	7,499,055
	5,000,000		0.000		07/08/20	4,999,016
	5,000,000		0.000		08/04/20	4,992,402
	13,000,000		0.000		09/14/20	12,970,634
Bat Capital Corp.^(d)
	9,390,000		0.000		07/29/20	9,387,602
	11,730,000		0.000		07/30/20	11,726,872
BP Capital Markets PLC^(d)
	25,000,000		0.000		08/03/20	24,996,718
	25,000,000		0.000		08/12/20	24,994,595
China Construction Banking Corp.^(d)
	20,000,000		0.000		07/29/20	19,996,343
	10,000,000		0.000		09/21/20	9,987,988
Cnpc Finance^(d)
	35,000,000		0.000		07/07/20	34,997,822
Compass Group PLC^(d)
	15,000,000		0.000		08/28/20	14,993,363
Credit Agricole Corporate & Investment Bank
	4,000,000		0.645		08/09/21	4,000,442
Electricite De France Sa^(d)
	6,550,000		0.000		08/03/20	6,548,590
Enbridge (Us), Inc.^(d)
	23,000,000		0.000		09/14/20	22,975,382
Entergy Corp.^(d)
	15,673,000		0.000		08/20/20	15,660,255
Exxon Mobil Corp.^(d)
	20,000,000		0.000		08/05/20	19,996,880

GOLDMAN SACHS SHORT-TERM CONSERVATIVE INCOME FUND

Schedule of Investments (continued)

June 30, 2020 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Short-term Investments – (continued)
Commercial Paper– (continued)
First Abu Dhabi Bank Pjsc^(d)
$	25,000,000		0.000	%	08/19/20	$ 24,995,035
Industrial & Commercial Bank of China Ltd.^(d)
	17,509,000		0.000		07/28/20	17,505,119
	10,335,000		0.000		09/17/20	10,324,227
Landesbank Hessen-Thuringen^(d)
	15,000,000		0.000		02/04/21	14,966,055
Lime Funding^(d)
	16,340,000		0.000		10/21/20	16,325,485
Matchpoint Finance PLC^(d)
	30,000,000		0.000		09/14/20	29,987,017
NatWest Markets PLC^(d)
	45,000,000		0.000		02/01/21	44,746,200
Schlumberger Holdings Corp.^(d)
	14,994,000		0.000		09/15/20	14,965,297
Sheffield Receivable^(d)
	20,000,000		0.000		08/03/20	19,996,166
Shell International Finance B.V.^(d)
	20,000,000		0.000		01/27/21	19,948,305
	25,000,000		0.000		06/14/21	24,867,186
Societe Generale^(d)
	40,000,000		0.000		06/28/21	39,758,100
Starbird Funding Corp.^(d)
	20,000,000		0.000		09/22/20	19,988,240
The Boeing Co.^(d)
	5,000,000		0.000		11/04/20	4,966,274
Transcanada Pipeline^(d)
	4,800,000		0.000		07/14/20	4,799,496
Verizon Communications, Inc.^(d)
	15,000,000		0.000		07/28/20	14,996,348

						623,847,588

Repurchase Agreement – 1.5%
Bank of America Corp.
	43,000,000		0.830		07/13/20	43,000,000
Maturity Value: $43,011,897 Next Reset Date: 07/01/20 Collateralized by various corporate obligations,0.000% to 4.750%, due 10/15/20 to 08/15/26. The aggregate market value of the collateral, including accrued interest, was $47,299,999.


Principal Amount		Interest Rate			Maturity Date	Value

Short-term Investments – (continued)
Repurchase Agreement – (continued)
Nomura
$	19,000,000		0.921	%	07/02/20	$ 19,000,000
Maturity Value: $19,000,000 Next Reset Date: 07/02/2020 Collateralized by various mortgage obligations,0.835% to 6.504%, due 10/18/31 to 05/25/65. The aggregate market value of the collateral, including accrued interest, was $22,765,960.

						62,000,000

TOTAL SHORT-TERM INVESTMENTS (Cost $1,296,196,754)						$1,296,841,602

TOTAL INVESTMENTS – 100.1% (Cost $4,176,640,210)						$4,183,903,492

LIABILITIES IN EXCESS OF OTHER ASSETS – (0.1)%						(4,040,085)

NET ASSETS – 100.0%						$4,179,863,407



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 June 30, 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:
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 freeShareholder Services Line at 1-800-526-7384 or visit us on theweb at www.GSAMFUNDS.com.

GOLDMAN SACHS SHORT DURATION AND GOVERNMENT FIXED INCOME FUNDS

Schedule of Investments (continued)

June 30, 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 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’ 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:

Money Market Funds — Investments in the Goldman Sachs Financial Square Government Fund and Goldman Sachs Financial Square Money Market Fund (“Underlying Funds”) are valued at the NAV per share of the Institutional Share class on the day of valuation. These investments are generally classified as Level 1 of the fair value hierarchy. For information regarding the Underlying Funds’ accounting policies and investment holdings, please see the Underlying Funds’ 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.

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.

GOLDMAN SACHS SHORT DURATION AND GOVERNMENT FIXED INCOME FUNDS

Schedule of Investments (continued)

June 30, 2020 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

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.

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 certain derivatives contracts. Non-cash collateral pledged by a Fund, if any, is noted in the Schedules of Investments.

Exchange-traded derivatives, including futures and options contracts, are generally valued at the last sale or settlement price on the exchange where they are principally traded. Exchange-traded options without settlement prices are generally valued at the midpoint of the bid and ask prices on the exchange where they are principally traded (or, in the absence of two-way trading, at the last bid price for long positions and the last

GOLDMAN SACHS SHORT DURATION AND GOVERNMENT FIXED INCOME FUNDS

Schedule of Investments (continued)

June 30, 2020 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

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 interest rate swap contracts or credit default swap contracts.

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

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

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

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

GOLDMAN SACHS SHORT DURATION AND GOVERNMENT FIXED INCOME FUNDS

Schedule of Investments (continued)

June 30, 2020 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

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 June 30, 2020:


ENHANCED INCOME

Investment Type	Level 1			Level 2		Level 3

Assets
Fixed Income
Corporate Obligations	$	—		$	326,592,882	$	—
U.S. Treasury Obligations and/or Other U.S. Government Agencies		19,330,230			8,923,318		—
Asset-Backed Securities		—			63,367,560		—
Municipal Debt Obligation		—			260,848		—
Investment Companies		72,784,134			—		—
Short-term Investments		—			17,475,926		—

Total	$	92,114,364		$	416,620,534	$	—

Derivative Type

Assets^(a)
Futures Contracts	$	13,284		$	—	$	—

Liabilities^(a)
Futures Contracts	$	(2,182,553	)	$	—	$	—

(a)

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

GOLDMAN SACHS SHORT DURATION AND GOVERNMENT FIXED INCOME FUNDS

Schedule of Investments (continued)

June 30, 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	$	—		$	216,064,050		$	—
U.S. Treasury Obligations and/or Other U.S. Government Agencies		82,850,493			86,570,003			—
Asset-Backed Securities		—			14,270,203			—
Municipal Debt Obligations		—			4,831,215			—
Investment Company		96,211,570			—			—

Total	$	179,062,063		$	321,735,471		$	—

Liabilities
Fixed Income
Mortgage-Backed Obligations — Forward Sales Contracts	$	—		$	(12,906,027	)	$	—

Total	$	—		$	(12,906,027	)	$	—

Derivative Type

Assets^(a)
Futures Contracts	$	372,060		$	—		$	—
Interest Rate Swap Contracts		—			41,578			—

Total	$	372,060		$	41,578		$	—

Liabilities
Futures Contracts^(a)	$	(176,721	)	$	—		$	—
Interest Rate Swap Contracts^(a)		—			(29,032	)		—
Written option contracts		—			(289,343	)		—

Total	$	(176,721	)	$	(318,375	)	$	—

HIGH QUALITY FLOATING RATE

Investment Type	Level 1			Level 2			Level 3

Assets
Fixed Income
Mortgage-Backed Obligations	$	—		$	78,542,076		$	—
Asset-Backed Securities		—			122,842,248			—
Municipal Debt Obligations		—			9,980,945			—
U.S. Treasury Obligations		16,596,428			—			—
Short-term Investments		—			8,700,000			—

Total	$	16,596,428		$	220,065,269		$	—

Derivative Type

Assets^(a)
Futures Contracts	$	1,833		$	—		$	—
Interest Rate Swap Contracts		—			23,865			—

Total	$	1,833		$	23,865		$	—

Liabilities^(a)
Futures Contracts	$	(37,867	)	$	—		$	—
Interest Rate Swap Contracts		—			(11,881	)		—

Total	$	(37,867	)	$	(11,881	)	$	—

(a)

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

GOLDMAN SACHS SHORT DURATION AND GOVERNMENT FIXED INCOME FUNDS

Schedule of Investments (continued)

June 30, 2020 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)



INFLATION PROTECTED SECURITIES

Investment Type	Level 1			Level 2			Level 3

Assets
Fixed Income
U.S. Treasury Obligations	$	377,170,126		$	—		$	—
Investment Company		15,776,352			—			—

Total	$	392,946,478		$	—		$	—

Derivative Type

Assets^(a)
Futures Contracts	$	172,981		$	—		$	—
Interest Rate Swap Contracts		—			544,072			—

Total	$	172,981		$	544,072		$	—

Liabilities
Futures Contracts^(a)	$	(276,095	)	$	—		$	—
Interest Rate Swap Contracts^(a)		—			(1,766,965	)		—
Written option contracts		—			(479,710	)		—

Total	$	(276,095	)	$	(2,246,675	)	$	—

SHORT DURATION GOVERNMENT

Investment Type	Level 1			Level 2			Level 3

Assets
Fixed Income
Mortgage-Backed Obligations	$	—		$	493,114,550		$	—
U.S. Treasury Obligations and/or Other U.S. Government Agencies		381,893,587			180,641,833			—
Asset-Backed Securities		—			929,551			—
Investment Company		93,017,929			—			—

Total	$	474,911,516		$	674,685,934		$	—

Derivative Type

Assets^(a)
Futures Contracts	$	1,099,186		$	—		$	—
Interest Rate Swap Contracts		—			78,405			—

Total	$	1,099,186		$	78,405		$	—

Liabilities^(a)
Futures Contracts	$	(1,167,769	)	$	—		$	—
Interest Rate Swap Contracts		—			(50,806	)		—

Total	$	(1,167,769	)	$	(50,806	)	$	—

(a)

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

GOLDMAN SACHS SHORT DURATION AND GOVERNMENT FIXED INCOME FUNDS

Schedule of Investments (continued)

June 30, 2020 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)



SHORT DURATION INCOME

Investment Type	Level 1			Level 2			Level 3

Assets
Fixed Income
Corporate Obligations	$	—		$	808,861,076		$	—
Mortgage-Backed Obligations		—			247,239,242			—
Asset-Backed Securities		—			56,575,056			—
Foreign Debt Obligations		—			15,097,836			—
Municipal Debt Obligations		—			8,904,370			—
U.S. Treasury Obligations		1,719,786			—			—
Investment Company		138,714,692			—			—
Exchange Traded Funds		31,124,388			—			—
Short-term Investments		—			2,486,688			—

Total	$	171,558,866		$	1,139,164,268		$	—

Derivative Type

Assets^(a)
Forward Foreign Currency Exchange Contracts	$	—		$	1,825,905		$	—
Futures Contracts		211,643			—			—
Interest Rate Swap Contracts		—			6,475,751			—
Credit Default Swap Contracts		—			666,723			—

Total	$	211,643		$	8,968,379		$	—

Liabilities
Forward Foreign Currency Exchange Contracts^(a)	$	—		$	(2,761,684	)	$	—
Futures Contracts^(a)		(353,746	)		—			—
Interest Rate Swap Contracts^(a)		—			(663,056	)		—
Credit Default Swap Contracts^(a)		—			(316,730	)		—
Written option contracts		—			(1,167,209	)		—

Total	$	(353,746	)	$	(4,908,679	)	$	—

(a)

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



SHORT-TERM CONSERVATIVE INCOME

Investment Type	Level 1		Level 2		Level 3

Assets
Fixed Income
Corporate Obligations	$	—	$	2,231,272,966	$	—
Municipal Debt Obligations		—		14,384,352		—
U.S. Treasury Obligations		130,333,857		—		—
Investment Companies		511,070,715		—		—
Short-term Investments		—		1,296,841,602		—

Total	$	641,404,572	$	3,542,498,920	$	—

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.

GOLDMAN SACHS SHORT DURATION AND GOVERNMENT FIXED INCOME FUNDS

Schedule of Investments (continued)

June 30, 2020 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

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 nottypically 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.

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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