Form NPORT-P GOLDMAN SACHS TRUST For: Sep 30

November 24, 2020 5:09 PM

  
    NPORT-P
    false
    
      
      
        
          0000822977
          XXXXXXXX
        
      
      
      
      
        S000009340
        C000201767
        C000025601
        C000200307
        C000025603
        C000091964
        C000025605
        C000025602
      
      
      
    
  
  
    
      Goldman Sachs Trust
      811-05349
      0000822977
      S2FHCT8U6D2VORP0J605
      71 South Wacker Drive
      Chicago
      
      60606
      312-655-4400
      Goldman Sachs U.S. Tax-Managed Equity Fund
      S000009340
      549300HEKU61E0SQOE76
      2020-12-31
      2020-09-30
      N
    
    
      1654510891.91
      3293092.44
      1651217799.47
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      6027979.96000000
      
        
        
      
      N
      
        
          
          
          
          
          
          
          
        
        
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
        
        
        
        
      
      
      
      
      
      
    
    
      
        Masco Corp.
        5GCSNMQXHEYA1JO8QN11
        Masco Corp.
        574599106
        
          
        
        235811.00000000
        NS
        USD
        13000260.43000000
        0.787313486698
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Cactus, Inc.
        549300J3T8C9F8QFKV08
        Cactus, Inc., Class A
        127203107
        
          
        
        8224.00000000
        NS
        USD
        157818.56000000
        0.009557707048
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CyrusOne, Inc.
        5493006S177ZK2ZNBU43
        CyrusOne, Inc.
        23283R100
        
          
        
        13665.00000000
        NS
        USD
        956959.95000000
        0.057954798592
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Duke Realty Corp.
        N/A
        Duke Realty Corp.
        264411505
        
          
        
        257053.00000000
        NS
        USD
        9485255.70000000
        0.574440010460
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Pioneer Natural Resources Co.
        FY8JBF7CCL2VE4F1B628
        Pioneer Natural Resources Co.
        723787107
        
          
        
        45653.00000000
        NS
        USD
        3925701.47000000
        0.237745830456
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Element Solutions, Inc.
        549300FLGN6P5CU20J91
        Element Solutions, Inc.
        28618M106
        
          
        
        71308.00000000
        NS
        USD
        749447.08000000
        0.045387536413
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Primerica, Inc.
        254900621R686KJR7022
        Primerica, Inc.
        74164M108
        
          
        
        33874.00000000
        NS
        USD
        3832504.36000000
        0.232101686478
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Keysight Technologies, Inc.
        549300GLKVIO8YRCYN02
        Keysight Technologies, Inc.
        49338L103
        
          
        
        111321.00000000
        NS
        USD
        10996288.38000000
        0.665950208599
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        E*TRADE Financial Corp.
        549300LYE2HSVYJFJD24
        E*TRADE Financial Corp.
        269246401
        
          
        
        107778.00000000
        NS
        USD
        5394288.90000000
        0.326685486416
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Mettler-Toledo International, Inc.
        5493000BD5GJNUDIUG10
        Mettler-Toledo International, Inc.
        592688105
        
          
        
        8672.00000000
        NS
        USD
        8374984.00000000
        0.507200443375
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CoStar Group, Inc.
        N/A
        CoStar Group, Inc.
        22160N109
        
          
        
        7128.00000000
        NS
        USD
        6048179.28000000
        0.366285978866
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Intel Corp.
        KNX4USFCNGPY45LOCE31
        Intel Corp.
        458140100
        
          
        
        31784.00000000
        NS
        USD
        1645775.52000000
        0.099670408139
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Norfolk Southern Corp.
        54930036C8MWP850MI84
        Norfolk Southern Corp.
        655844108
        
          
        
        18420.00000000
        NS
        USD
        3941695.80000000
        0.238714468876
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Hanesbrands, Inc.
        GX5LWVWZLL5S4W1L2F20
        Hanesbrands, Inc.
        410345102
        
          
        
        38036.00000000
        NS
        USD
        599067.00000000
        0.036280313850
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        ServiceMaster Global Holdings, Inc.
        549300GS10644JGL8R77
        ServiceMaster Global Holdings, Inc.
        81761R109
        
          
        
        120822.00000000
        NS
        USD
        4818381.36000000
        0.291807741022
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Teledyne Technologies, Inc.
        549300VSMO9KYQWDND94
        Teledyne Technologies, Inc.
        879360105
        
          
        
        2989.00000000
        NS
        USD
        927217.69000000
        0.056153566797
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Illinois Tool Works, Inc.
        76NA4I14SZCFAYMNSV04
        Illinois Tool Works, Inc.
        452308109
        
          
        
        97597.00000000
        NS
        USD
        18856716.37000000
        1.141988438839
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        L3Harris Technologies, Inc.
        549300UTE50ZMDBG8A20
        L3Harris Technologies, Inc.
        502431109
        
          
        
        26377.00000000
        NS
        USD
        4479869.68000000
        0.271307012402
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        American Equity Investment Life Holding Co.
        549300RK5RZQ740FPL83
        American Equity Investment Life Holding Co.
        025676206
        
          
        
        79383.00000000
        NS
        USD
        1745632.17000000
        0.105717862934
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Matador Resources Co.
        549300CI3Q2UUK5R4G79
        Matador Resources Co.
        576485205
        
          
        
        61078.00000000
        NS
        USD
        504504.28000000
        0.030553466669
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Ryder System, Inc.
        ZXJ6Y2OSPZXIVGRILD15
        Ryder System, Inc.
        783549108
        
          
        
        42301.00000000
        NS
        USD
        1786794.24000000
        0.108210693984
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Avient Corp.
        SM8L9RZYIB34LNTWO040
        Avient Corp.
        05368V106
        
          
        
        78720.00000000
        NS
        USD
        2082931.20000000
        0.126145151818
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Essex Property Trust, Inc.
        549300TR2H2VEFX0NC60
        Essex Property Trust, Inc.
        297178105
        
          
        
        3161.00000000
        NS
        USD
        634697.19000000
        0.038438126708
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Liberty Broadband Corp.
        549300MIX43II8JLN536
        Liberty Broadband Corp., Class C
        530307305
        
          
        
        28637.00000000
        NS
        USD
        4091368.19000000
        0.247778832768
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        PayPal Holdings, Inc.
        5493005X2GO78EFZ3E94
        PayPal Holdings, Inc.
        70450Y103
        
          
        
        169376.00000000
        NS
        USD
        33372153.28000000
        2.021063077851
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Herbalife Nutrition Ltd.
        549300BA7TYPBSZZIA41
        Herbalife Nutrition Ltd.
        N/A
        
          
        
        135610.00000000
        NS
        USD
        6326206.50000000
        0.383123686168
        Long
        EC
        CORP
        KY
        
        N
        
        1
        
          N
          N
          N
        
      
      
        CoreSite Realty Corp.
        549300H0YYORITFM2B74
        CoreSite Realty Corp.
        21870Q105
        
          
        
        20365.00000000
        NS
        USD
        2420991.20000000
        0.146618526082
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Camden Property Trust
        5493002MYX22OHYJBD89
        Camden Property Trust
        133131102
        
          
        
        24905.00000000
        NS
        USD
        2216046.90000000
        0.134206820003
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Graphic Packaging Holding Co.
        N/A
        Graphic Packaging Holding Co.
        388689101
        
          
        
        85354.00000000
        NS
        USD
        1202637.86000000
        0.072833387599
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        PS Business Parks, Inc.
        N/A
        PS Business Parks, Inc.
        69360J107
        
          
        
        3931.00000000
        NS
        USD
        481115.09000000
        0.029136985451
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        TTM Technologies, Inc.
        549300SC4BDOIS008048
        TTM Technologies, Inc.
        87305R109
        
          
        
        135115.00000000
        NS
        USD
        1541662.15000000
        0.093365160579
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        KAR Auction Services, Inc.
        5493004HKD20LBSG7D03
        KAR Auction Services, Inc.
        48238T109
        
          
        
        13972.00000000
        NS
        USD
        201196.80000000
        0.012184752372
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Ventas, Inc.
        ORQTRC074CWLT3DKHT41
        Ventas, Inc.
        92276F100
        
          
        
        45708.00000000
        NS
        USD
        1917907.68000000
        0.116151102575
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        JPMorgan Chase & Co.
        8I5DZWZKVSZI1NUHU748
        JPMorgan Chase & Co.
        46625H100
        
          
        
        49088.00000000
        NS
        USD
        4725701.76000000
        0.286194938155
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Spotify Technology SA
        549300B4X0JHWV0DTD60
        Spotify Technology SA
        N/A
        
          
        
        11879.00000000
        NS
        USD
        2881489.03000000
        0.174506902173
        Long
        EC
        CORP
        LU
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Square, Inc.
        549300OHIIUWSTIZME52
        Square, Inc., Class A
        852234103
        
          
        
        1609.00000000
        NS
        USD
        261542.95000000
        0.015839397448
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Arch Capital Group Ltd.
        549300AYR4P8AFKDCE43
        Arch Capital Group Ltd.
        N/A
        
          
        
        7842.00000000
        NS
        USD
        229378.50000000
        0.013891474527
        Long
        EC
        CORP
        BM
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Chevron Corp.
        N/A
        Chevron Corp.
        166764100
        
          
        
        38680.00000000
        NS
        USD
        2784960.00000000
        0.168660972579
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Raytheon Technologies Corp.
        I07WOS4YJ0N7YRFE7309
        Raytheon Technologies Corp.
        75513E101
        
          
        
        149820.00000000
        NS
        USD
        8620642.80000000
        0.522077875054
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Netflix, Inc.
        549300Y7VHGU0I7CE873
        Netflix, Inc.
        64110L106
        
          
        
        17336.00000000
        NS
        USD
        8668520.08000000
        0.524977388372
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Rexford Industrial Realty, Inc.
        549300MSLO0DF0EMX355
        Rexford Industrial Realty, Inc.
        76169C100
        
          
        
        93086.00000000
        NS
        USD
        4259615.36000000
        0.257968110649
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Fidelity National Financial, Inc.
        549300CAZYIH39SYQ287
        Fidelity National Financial, Inc.
        31620R303
        
          
        
        101122.00000000
        NS
        USD
        3166129.82000000
        0.191745136287
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Renewable Energy Group, Inc.
        549300HPU3BD8ZI0X358
        Renewable Energy Group, Inc.
        75972A301
        
          
        
        25139.00000000
        NS
        USD
        1342925.38000000
        0.081329390976
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Henry Schein, Inc.
        VGO3WGL8H45T73F4RR92
        Henry Schein, Inc.
        806407102
        
          
        
        13051.00000000
        NS
        USD
        767137.78000000
        0.046458909312
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Darling Ingredients, Inc.
        L1N0SPPKS7EXZYUMZ898
        Darling Ingredients, Inc.
        237266101
        
          
        
        51135.00000000
        NS
        USD
        1842394.05000000
        0.111577894242
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Outfront Media, Inc.
        549300RZWDYU5722I639
        Outfront Media, Inc.
        69007J106
        
          
        
        47187.00000000
        NS
        USD
        686570.85000000
        0.041579666245
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Clean Harbors, Inc.
        5493000SJVZVZJKHJF48
        Clean Harbors, Inc.
        184496107
        
          
        
        4648.00000000
        NS
        USD
        260427.44000000
        0.015771840642
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Asbury Automotive Group, Inc.
        549300JH4DTA7U42GL91
        Asbury Automotive Group, Inc.
        043436104
        
          
        
        1486.00000000
        NS
        USD
        144810.70000000
        0.008769933321
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Cadence Design Systems, Inc.
        GCT7RXJOGLXPV0NXZY22
        Cadence Design Systems, Inc.
        127387108
        
          
        
        21888.00000000
        NS
        USD
        2333917.44000000
        0.141345220524
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        VEREIT, Inc.
        5493002H54FNIBW75H44
        VEREIT, Inc.
        92339V100
        
          
        
        758467.00000000
        NS
        USD
        4930035.50000000
        0.298569667888
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        First American Financial Corp.
        549300B6VEZK3N0A1P55
        First American Financial Corp.
        31847R102
        
          
        
        59600.00000000
        NS
        USD
        3034236.00000000
        0.183757466820
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Summit Materials, Inc.
        N/A
        Summit Materials, Inc., Class A
        86614U100
        
          
        
        35299.00000000
        NS
        USD
        583845.46000000
        0.035358476645
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Zynga, Inc.
        N/A
        Zynga, Inc., Class A
        98986T108
        
          
        
        1618527.00000000
        NS
        USD
        14760966.24000000
        0.893944229812
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Cardlytics, Inc.
        549300JETJBH94EIPC66
        Cardlytics, Inc.
        14161W105
        
          
        
        12147.00000000
        NS
        USD
        857213.79000000
        0.051914035221
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Simon Property Group, Inc.
        529900GQL5X8H7AO3T64
        Simon Property Group, Inc.
        828806109
        
          
        
        2.00000000
        NS
        USD
        129.36000000
        0.000007834217
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Lockheed Martin Corp.
        DPRBOZP0K5RM2YE8UU08
        Lockheed Martin Corp.
        539830109
        
          
        
        12408.00000000
        NS
        USD
        4755738.24000000
        0.288013988313
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Southern Copper Corp.
        2549007U6NAP46Q9TU15
        Southern Copper Corp.
        84265V105
        
          
        
        6280.00000000
        NS
        USD
        284295.60000000
        0.017217328936
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Citrix Systems, Inc.
        HCTKJGUQOPZ5NBK7NP58
        Citrix Systems, Inc.
        177376100
        
          
        
        17268.00000000
        NS
        USD
        2377976.28000000
        0.144013483912
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Omnicom Group, Inc.
        HKUPACFHSSASQK8HLS17
        Omnicom Group, Inc.
        681919106
        
          
        
        26985.00000000
        NS
        USD
        1335757.50000000
        0.080895294395
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Royal Gold, Inc.
        5493001NGRU6SFL04184
        Royal Gold, Inc.
        780287108
        
          
        
        19665.00000000
        NS
        USD
        2363143.05000000
        0.143115163290
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Murphy USA, Inc.
        549300Y081F8XIKQIO72
        Murphy USA, Inc.
        626755102
        
          
        
        34301.00000000
        NS
        USD
        4399789.27000000
        0.266457233649
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        SVB Financial Group
        549300D2KJ20JMXE7542
        SVB Financial Group
        78486Q101
        
          
        
        17309.00000000
        NS
        USD
        4164891.58000000
        0.252231509455
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        S&P Global, Inc.
        Y6X4K52KMJMZE7I7MY94
        S&P Global, Inc.
        78409V104
        
          
        
        62760.00000000
        NS
        USD
        22631256.00000000
        1.370579702281
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Corporate Office Properties Trust
        YY1J47X6LF9TYY8JY420
        Corporate Office Properties Trust
        22002T108
        
          
        
        7029.00000000
        NS
        USD
        166727.88000000
        0.010097267607
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Perrigo Co. plc
        549300IFOQS6R1QLY196
        Perrigo Co. plc
        N/A
        
          
        
        6218.00000000
        NS
        USD
        285468.38000000
        0.017288354091
        Long
        EC
        CORP
        IE
        
        N
        
        1
        
          N
          N
          N
        
      
      
        West Pharmaceutical Services, Inc.
        5493007NKRGM1RJQ1P16
        West Pharmaceutical Services, Inc.
        955306105
        
          
        
        46257.00000000
        NS
        USD
        12716049.30000000
        0.770101273380
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CME Group, Inc.
        LCZ7XYGSLJUHFXXNXD88
        CME Group, Inc.
        12572Q105
        
          
        
        25114.00000000
        NS
        USD
        4201823.34000000
        0.254468147166
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CSX Corp.
        549300JVQR4N1MMP3Q88
        CSX Corp.
        126408103
        
          
        
        31353.00000000
        NS
        USD
        2435187.51000000
        0.147478273961
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Hologic, Inc.
        549300DYP6F5ZJL0LB74
        Hologic, Inc.
        436440101
        
          
        
        45700.00000000
        NS
        USD
        3037679.00000000
        0.183965979592
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        STORE Capital Corp.
        5493004EA6C9IHDZ7N66
        STORE Capital Corp.
        862121100
        
          
        
        43352.00000000
        NS
        USD
        1189145.36000000
        0.072016263413
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Perficient, Inc.
        549300HTBXKL2755T650
        Perficient, Inc.
        71375U101
        
          
        
        5663.00000000
        NS
        USD
        242036.62000000
        0.014658067523
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Incyte Corp.
        549300Z4WN6JVZ3T4680
        Incyte Corp.
        45337C102
        
          
        
        2455.00000000
        NS
        USD
        220311.70000000
        0.013342376764
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        NetApp, Inc.
        QTX3D84DZDD5JYOCYH15
        NetApp, Inc.
        64110D104
        
          
        
        42942.00000000
        NS
        USD
        1882577.28000000
        0.114011445407
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Biogen, Inc.
        W8J5WZB5IY3K0NDQT671
        Biogen, Inc.
        09062X103
        
          
        
        16914.00000000
        NS
        USD
        4798163.52000000
        0.290583321082
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        DTE Energy Co.
        549300IX8SD6XXD71I78
        DTE Energy Co.
        233331107
        
          
        
        35130.00000000
        NS
        USD
        4041355.20000000
        0.244749977943
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Dick's Sporting Goods, Inc.
        529900SSBV5I4LWSK313
        Dick's Sporting Goods, Inc.
        253393102
        
          
        
        123268.00000000
        NS
        USD
        7134751.84000000
        0.432090293738
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Citigroup, Inc.
        6SHGI4ZSSLCXXQSBB395
        Citigroup, Inc.
        172967424
        
          
        
        186333.00000000
        NS
        USD
        8032815.63000000
        0.486478260625
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Bancorp, Inc. (The)
        N/A
        Bancorp, Inc. (The)
        05969A105
        
          
        
        42551.00000000
        NS
        USD
        367640.64000000
        0.022264818131
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        ServiceNow, Inc.
        549300HJTQM36M0E1G39
        ServiceNow, Inc.
        81762P102
        
          
        
        5399.00000000
        NS
        USD
        2618515.00000000
        0.158580836570
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Fastly, Inc.
        549300E2FZC83FJ3H565
        Fastly, Inc., Class A
        31188V100
        
          
        
        16958.00000000
        NS
        USD
        1588625.44000000
        0.096209321417
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Bluebird Bio, Inc.
        N/A
        Bluebird Bio, Inc.
        09609G100
        
          
        
        7726.00000000
        NS
        USD
        416817.70000000
        0.025243047896
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        SYNNEX Corp.
        5493004HI6PFLF46NS53
        SYNNEX Corp.
        87162W100
        
          
        
        5934.00000000
        NS
        USD
        831116.04000000
        0.050333519918
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        ABIOMED, Inc.
        5493001EZN4ZTB4Z5887
        ABIOMED, Inc.
        003654100
        
          
        
        6191.00000000
        NS
        USD
        1715278.46000000
        0.103879600895
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        First Industrial Realty Trust, Inc.
        N/A
        First Industrial Realty Trust, Inc.
        32054K103
        
          
        
        249899.00000000
        NS
        USD
        9945980.20000000
        0.602342113995
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        H&E Equipment Services, Inc.
        N/A
        H&E Equipment Services, Inc.
        404030108
        
          
        
        10402.00000000
        NS
        USD
        204503.32000000
        0.012384999729
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        International Business Machines Corp.
        VGRQXHF3J8VDLUA7XE92
        International Business Machines Corp.
        459200101
        
          
        
        63133.00000000
        NS
        USD
        7681392.11000000
        0.465195573380
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Cogent Communications Holdings, Inc.
        N/A
        Cogent Communications Holdings, Inc.
        19239V302
        
          
        
        39101.00000000
        NS
        USD
        2348015.05000000
        0.142198990996
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Domino's Pizza, Inc.
        5299004V0Y8MI5D9FF45
        Domino's Pizza, Inc.
        25754A201
        
          
        
        36282.00000000
        NS
        USD
        15430008.96000000
        0.934462368619
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Lamar Advertising Co.
        529900Y8WW4MKVPTB543
        Lamar Advertising Co., Class A
        512816109
        
          
        
        46607.00000000
        NS
        USD
        3083985.19000000
        0.186770345558
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Procter & Gamble Co. (The)
        2572IBTT8CCZW6AU4141
        Procter & Gamble Co. (The)
        742718109
        
          
        
        110150.00000000
        NS
        USD
        15309748.50000000
        0.927179231286
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        AbbVie, Inc.
        FR5LCKFTG8054YNNRU85
        AbbVie, Inc.
        00287Y109
        
          
        
        296208.00000000
        NS
        USD
        25944858.72000000
        1.571255998350
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Cimpress plc
        549300X1IFD75XISOR81
        Cimpress plc
        N/A
        
          
        
        11341.00000000
        NS
        USD
        852389.56000000
        0.051621873278
        Long
        EC
        CORP
        IE
        N
        
        1
        
          N
          N
          
        
      
      
        Tyson Foods, Inc.
        WD6L6041MNRW1JE49D58
        Tyson Foods, Inc., Class A
        902494103
        
          
        
        52541.00000000
        NS
        USD
        3125138.68000000
        0.189262656991
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        AGCO Corp.
        LYOM0B2GCF1JWXK5ZG04
        AGCO Corp.
        001084102
        
          
        
        5761.00000000
        NS
        USD
        427869.47000000
        0.025912358147
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        American Tower Corp.
        5493006ORUSIL88JOE18
        American Tower Corp.
        03027X100
        
          
        
        5689.00000000
        NS
        USD
        1375201.97000000
        0.083284105248
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Monster Beverage Corp.
        52990090AP0E7HCB6F33
        Monster Beverage Corp.
        61174X109
        
          
        
        213411.00000000
        NS
        USD
        17115562.20000000
        1.036541769686
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        American Campus Communities, Inc.
        529900MR3ZXRO3W6UX26
        American Campus Communities, Inc.
        024835100
        
          
        
        13961.00000000
        NS
        USD
        487518.12000000
        0.029524761673
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Mid-America Apartment Communities, Inc.
        549300FQZKFR5YNSHZ21
        Mid-America Apartment Communities, Inc.
        59522J103
        
          
        
        60996.00000000
        NS
        USD
        7072486.20000000
        0.428319401733
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Alphabet, Inc.
        5493006MHB84DD0ZWV18
        Alphabet, Inc., Class C
        02079K107
        
          
        
        15750.00000000
        NS
        USD
        23146200.00000000
        1.401765412620
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Voya Financial, Inc.
        549300T065Z4KJ686G75
        Voya Financial, Inc.
        929089100
        
          
        
        333356.00000000
        NS
        USD
        15977753.08000000
        0.967634498921
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        MercadoLibre, Inc.
        549300DKPDN9M5S8GB14
        MercadoLibre, Inc.
        58733R102
        
          
        
        1541.00000000
        NS
        USD
        1668101.68000000
        0.101022510812
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Amazon.com, Inc.
        ZXTILKJKG63JELOEG630
        Amazon.com, Inc.
        023135106
        
          
        
        24763.00000000
        NS
        USD
        77972000.99000000
        4.722090630020
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        PerkinElmer, Inc.
        549300IKL1SDPFI7N655
        PerkinElmer, Inc.
        714046109
        
          
        
        117248.00000000
        NS
        USD
        14715796.48000000
        0.891208687595
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Corteva, Inc.
        549300WZN9I2QKLS0O94
        Corteva, Inc.
        22052L104
        
          
        
        53802.00000000
        NS
        USD
        1550035.62000000
        0.093872269333
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Dollar General Corp.
        OPX52SQVOZI8IVSWYU66
        Dollar General Corp.
        256677105
        
          
        
        24580.00000000
        NS
        USD
        5152459.60000000
        0.312039974475
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Old Dominion Freight Line, Inc.
        5299009TWK32WE417T96
        Old Dominion Freight Line, Inc.
        679580100
        
          
        
        50365.00000000
        NS
        USD
        9112035.80000000
        0.551837304741
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        QTS Realty Trust, Inc.
        5493006PA4CJK4OG2J54
        QTS Realty Trust, Inc., Class A
        74736A103
        
          
        
        20916.00000000
        NS
        USD
        1318126.32000000
        0.079827526109
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Popular, Inc.
        5493008CARDZMVQ3LO89
        Popular, Inc.
        733174700
        
          
        
        11205.00000000
        NS
        USD
        406405.35000000
        0.024612461792
        Long
        EC
        CORP
        PR
        N
        
        1
        
          N
          N
          N
        
      
      
        Mylan NV
        549300A0CD4KNFGIIS89
        Mylan NV
        N/A
        
          
        
        483891.00000000
        NS
        USD
        7176103.53000000
        0.434594608434
        Long
        EC
        CORP
        NL
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Globe Life, Inc.
        5493001JFHKQOPP6XA71
        Globe Life, Inc.
        37959E102
        
          
        
        22700.00000000
        NS
        USD
        1813730.00000000
        0.109841960314
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Comcast Corp.
        51M0QTTNCGUN7KFCFZ59
        Comcast Corp., Class A
        20030N101
        
          
        
        94443.00000000
        NS
        USD
        4368933.18000000
        0.264588546792
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        TPG RE Finance Trust, Inc.
        N/A
        TPG RE Finance Trust, Inc.
        87266M107
        
          
        
        56882.00000000
        NS
        USD
        481221.72000000
        0.029143443109
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        PennyMac Financial Services, Inc.
        549300W1D516HBDEU871
        PennyMac Financial Services, Inc.
        70932M107
        
          
        
        5253.00000000
        NS
        USD
        305304.36000000
        0.018489648070
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        HollyFrontier Corp.
        549300J3U2WK73C9ZK26
        HollyFrontier Corp.
        436106108
        
          
        
        35852.00000000
        NS
        USD
        706642.92000000
        0.042795258155
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Gaming and Leisure Properties, Inc.
        5493006GWRDBCZYWTM57
        Gaming and Leisure Properties, Inc.
        36467J108
        
          
        
        6416.00000000
        NS
        USD
        236942.88000000
        0.014349583687
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Zscaler, Inc.
        529900MZ0RTK1BWRNF46
        Zscaler, Inc.
        98980G102
        
          
        
        43289.00000000
        NS
        USD
        6090329.41000000
        0.368838648175
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        LendingTree, Inc.
        549300ISY5YHUJZTON08
        LendingTree, Inc.
        52603B107
        
          
        
        622.00000000
        NS
        USD
        190885.58000000
        0.011560290838
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Gartner, Inc.
        PP55B5R38BFB8O8HH686
        Gartner, Inc.
        366651107
        
          
        
        8663.00000000
        NS
        USD
        1082441.85000000
        0.065554153446
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Elanco Animal Health, Inc.
        549300SHPNDCE059M934
        Elanco Animal Health, Inc.
        28414H103
        
          
        
        102157.00000000
        NS
        USD
        2853245.01000000
        0.172796405835
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Sarepta Therapeutics, Inc.
        549300IKDPIED8J8IG21
        Sarepta Therapeutics, Inc.
        803607100
        
          
        
        5272.00000000
        NS
        USD
        740346.96000000
        0.044836420745
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Zoom Video Communications, Inc.
        549300T9GCHU0ODOM055
        Zoom Video Communications, Inc., Class A
        98980L101
        
          
        
        4250.00000000
        NS
        USD
        1997967.50000000
        0.120999634369
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        International Bancshares Corp.
        549300Y16R531AU8TX77
        International Bancshares Corp.
        459044103
        
          
        
        32081.00000000
        NS
        USD
        836030.86000000
        0.050631168115
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Microsoft Corp.
        INR2EJN1ERAN0W5ZP974
        Microsoft Corp.
        594918104
        
          
        
        373480.00000000
        NS
        USD
        78554048.40000000
        4.757340214308
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Abbott Laboratories
        HQD377W2YR662HK5JX27
        Abbott Laboratories
        002824100
        
          
        
        3020.00000000
        NS
        USD
        328666.60000000
        0.019904497159
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Sun Communities, Inc.
        549300H5GEOJYN41ZG57
        Sun Communities, Inc.
        866674104
        
          
        
        39338.00000000
        NS
        USD
        5531316.18000000
        0.334984045216
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        HD Supply Holdings, Inc.
        549300B7Z7O7RWEXS689
        HD Supply Holdings, Inc.
        40416M105
        
          
        
        41574.00000000
        NS
        USD
        1714511.76000000
        0.103833168498
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Pfizer, Inc.
        765LHXWGK1KXCLTFYQ30
        Pfizer, Inc.
        717081103
        
          
        
        128361.00000000
        NS
        USD
        4710848.70000000
        0.285295416601
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Constellation Brands, Inc.
        5493005GKEG8QCVY7037
        Constellation Brands, Inc., Class A
        21036P108
        
          
        
        7580.00000000
        NS
        USD
        1436485.80000000
        0.086995537503
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Power Integrations, Inc.
        54930085LGXSCIHD5W31
        Power Integrations, Inc.
        739276103
        
          
        
        13204.00000000
        NS
        USD
        731501.60000000
        0.044300733690
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Johnson & Johnson
        549300G0CFPGEF6X2043
        Johnson & Johnson
        478160104
        
          
        
        88523.00000000
        NS
        USD
        13179304.24000000
        0.798156623810
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        AMETEK, Inc.
        549300WZDEF9KKE40E98
        AMETEK, Inc.
        031100100
        
          
        
        29624.00000000
        NS
        USD
        2944625.60000000
        0.178330538887
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Sherwin-Williams Co. (The)
        Z15BMIOX8DDH0X2OBP21
        Sherwin-Williams Co. (The)
        824348106
        
          
        
        38987.00000000
        NS
        USD
        27163802.38000000
        1.645076887417
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Zoetis, Inc.
        549300HD9Q1LOC9KLJ48
        Zoetis, Inc.
        98978V103
        
          
        
        64054.00000000
        NS
        USD
        10592609.98000000
        0.641502894615
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Red Rock Resorts, Inc.
        N/A
        Red Rock Resorts, Inc., Class A
        75700L108
        
          
        
        62232.00000000
        NS
        USD
        1064167.20000000
        0.064447415740
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        FireEye, Inc.
        549300E9D2UJUFLLY524
        FireEye, Inc.
        31816Q101
        
          
        
        20345.00000000
        NS
        USD
        251159.03000000
        0.015210533103
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Targa Resources Corp.
        5493003QENHHS261UR94
        Targa Resources Corp.
        87612G101
        
          
        
        103628.00000000
        NS
        USD
        1453900.84000000
        0.088050216056
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Cigna Corp.
        549300VIWYMSIGT1U456
        Cigna Corp.
        125523100
        
          
        
        21748.00000000
        NS
        USD
        3684328.68000000
        0.223127965383
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Casey's General Stores, Inc.
        549300CAFWSI86V66Q65
        Casey's General Stores, Inc.
        147528103
        
          
        
        11583.00000000
        NS
        USD
        2057719.95000000
        0.124618324164
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Archer-Daniels-Midland Co.
        549300LO13MQ9HYSTR83
        Archer-Daniels-Midland Co.
        039483102
        
          
        
        67273.00000000
        NS
        USD
        3127521.77000000
        0.189406980169
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Honeywell International, Inc.
        ISRPG12PN4EIEOEMW547
        Honeywell International, Inc.
        438516106
        
          
        
        6443.00000000
        NS
        USD
        1060582.23000000
        0.064230305071
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Chipotle Mexican Grill, Inc.
        N/A
        Chipotle Mexican Grill, Inc.
        169656105
        
          
        
        18628.00000000
        NS
        USD
        23167829.88000000
        1.403075347627
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Equity LifeStyle Properties, Inc.
        529900PEQG66LENB6798
        Equity LifeStyle Properties, Inc.
        29472R108
        
          
        
        78936.00000000
        NS
        USD
        4838776.80000000
        0.293042916661
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Associated Banc-Corp.
        549300N3CIN473IW5094
        Associated Banc-Corp.
        045487105
        
          
        
        87484.00000000
        NS
        USD
        1104048.08000000
        0.066862656177
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Walmart, Inc.
        Y87794H0US1R65VBXU25
        Walmart, Inc.
        931142103
        
          
        
        2725.00000000
        NS
        USD
        381254.75000000
        0.023089307184
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Truist Financial Corp.
        549300DRQQI75D2JP341
        Truist Financial Corp.
        89832Q109
        
          
        
        29639.00000000
        NS
        USD
        1127763.95000000
        0.068298921581
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Adobe, Inc.
        FU4LY2G4933NH2E1CP29
        Adobe, Inc.
        00724F101
        
          
        
        44829.00000000
        NS
        USD
        21985486.47000000
        1.331471019574
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Marathon Petroleum Corp.
        3BNYRYQHD39K4LCKQF12
        Marathon Petroleum Corp.
        56585A102
        
          
        
        34116.00000000
        NS
        USD
        1000963.44000000
        0.060619709908
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Align Technology, Inc.
        549300N5YSE0U3LCP840
        Align Technology, Inc.
        016255101
        
          
        
        730.00000000
        NS
        USD
        238972.80000000
        0.014472518408
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Innoviva, Inc.
        549300ACOX4QTBES6535
        Innoviva, Inc.
        45781M101
        
          
        
        23213.00000000
        NS
        USD
        242575.85000000
        0.014690724026
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Berkshire Hathaway, Inc.
        5493000C01ZX7D35SD85
        Berkshire Hathaway, Inc., Class B
        084670702
        
          
        
        38603.00000000
        NS
        USD
        8220122.82000000
        0.497821839289
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Bank of America Corp.
        9DJT3UXIJIZJI4WXO774
        Bank of America Corp.
        060505104
        
          
        
        258560.00000000
        NS
        USD
        6228710.40000000
        0.377219189497
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Ladder Capital Corp.
        549300Q6LLV2QCV67C06
        Ladder Capital Corp.
        505743104
        
          
        
        98828.00000000
        NS
        USD
        703655.36000000
        0.042614327451
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Williams Cos., Inc. (The)
        D71FAKCBLFS2O0RBPG08
        Williams Cos., Inc. (The)
        969457100
        
          
        
        156754.00000000
        NS
        USD
        3080216.10000000
        0.186542084332
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Louisiana-Pacific Corp.
        549300C7E2UAO5BVRR75
        Louisiana-Pacific Corp.
        546347105
        
          
        
        191930.00000000
        NS
        USD
        5663854.30000000
        0.343010734369
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Synchrony Financial
        549300RS7EWPM9MA6C78
        Synchrony Financial
        87165B103
        
          
        
        490040.00000000
        NS
        USD
        12824346.80000000
        0.776659917553
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Ally Financial, Inc.
        549300JBN1OSM8YNAI90
        Ally Financial, Inc.
        02005N100
        
          
        
        90429.00000000
        NS
        USD
        2267055.03000000
        0.137295941863
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Whirlpool Corp.
        WHENKOULSSK7WUM60H03
        Whirlpool Corp.
        963320106
        
          
        
        12109.00000000
        NS
        USD
        2226724.01000000
        0.134853440334
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        O'Reilly Automotive, Inc.
        549300K2RLMQL149Q332
        O'Reilly Automotive, Inc.
        67103H107
        
          
        
        1394.00000000
        NS
        USD
        642745.52000000
        0.038925544540
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        VeriSign, Inc.
        LMPL4N8ZOJRMF0KOF759
        VeriSign, Inc.
        92343E102
        
          
        
        37114.00000000
        NS
        USD
        7602802.90000000
        0.460436103731
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        UnitedHealth Group, Inc.
        549300GHBMY8T5GXDE41
        UnitedHealth Group, Inc.
        91324P102
        
          
        
        47957.00000000
        NS
        USD
        14951553.89000000
        0.905486477604
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Stamps.com, Inc.
        5299008VAXLEGU4Y4038
        Stamps.com, Inc.
        852857200
        
          
        
        843.00000000
        NS
        USD
        203120.85000000
        0.012301275462
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Air Products and Chemicals, Inc.
        7QEON6Y1RL5XR3R1W237
        Air Products and Chemicals, Inc.
        009158106
        
          
        
        4937.00000000
        NS
        USD
        1470534.82000000
        0.089057592552
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        AutoNation, Inc.
        N/A
        AutoNation, Inc.
        05329W102
        
          
        
        8493.00000000
        NS
        USD
        449534.49000000
        0.027224421281
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Merck & Co., Inc.
        4YV9Y5M8S0BRK1RP0397
        Merck & Co., Inc.
        58933Y105
        
          
        
        48751.00000000
        NS
        USD
        4043895.45000000
        0.244903818944
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Twilio, Inc.
        5493004W8TRGD63APX93
        Twilio, Inc., Class A
        90138F102
        
          
        
        14865.00000000
        NS
        USD
        3672992.85000000
        0.222441452071
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Cisco Systems, Inc.
        8E6NF1YAL0WT6CWXXV93
        Cisco Systems, Inc.
        17275R102
        
          
        
        24727.00000000
        NS
        USD
        973996.53000000
        0.058986557092
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        eBay, Inc.
        OML71K8X303XQONU6T67
        eBay, Inc.
        278642103
        
          
        
        34974.00000000
        NS
        USD
        1822145.40000000
        0.110351608405
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        National Bank Holdings Corp.
        N/A
        National Bank Holdings Corp., Class A
        633707104
        
          
        
        10646.00000000
        NS
        USD
        279457.50000000
        0.016924327008
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Jazz Pharmaceuticals plc
        635400GAUMJCLEZRRV50
        Jazz Pharmaceuticals plc
        N/A
        
          
        
        42765.00000000
        NS
        USD
        6097861.35000000
        0.369294792725
        Long
        EC
        CORP
        IE
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Vornado Realty Trust
        N/A
        Vornado Realty Trust
        929042109
        
          
        
        1.00000000
        NS
        USD
        33.71000000
        0.000002041523
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Crown Holdings, Inc.
        NYLWZIOY8PUNIT4JOE22
        Crown Holdings, Inc.
        228368106
        
          
        
        2903.00000000
        NS
        USD
        223124.58000000
        0.013512728609
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Brixmor Property Group, Inc.
        5299007UXW6Y0W2EGZ95
        Brixmor Property Group, Inc.
        11120U105
        
          
        
        34316.00000000
        NS
        USD
        401154.04000000
        0.024294435302
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Invitation Homes, Inc.
        N/A
        Invitation Homes, Inc.
        46187W107
        
          
        
        476005.00000000
        NS
        USD
        13323379.95000000
        0.806882045135
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CubeSmart
        N/A
        CubeSmart
        229663109
        
          
        
        65457.00000000
        NS
        USD
        2114915.67000000
        0.128082174906
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Gentex Corp.
        549300S3UD8XV1MN0287
        Gentex Corp.
        371901109
        
          
        
        21887.00000000
        NS
        USD
        563590.25000000
        0.034131793527
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        DR Horton, Inc.
        529900ZIUEYVSB8QDD25
        DR Horton, Inc.
        23331A109
        
          
        
        27507.00000000
        NS
        USD
        2080354.41000000
        0.125989097905
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Mosaic Co. (The)
        2YD5STGSJNMUB7H76907
        Mosaic Co. (The)
        61945C103
        
          
        
        65745.00000000
        NS
        USD
        1201161.15000000
        0.072743956029
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Cognizant Technology Solutions Corp.
        5493006IEVQEFQO40L83
        Cognizant Technology Solutions Corp., Class A
        192446102
        
          
        
        95022.00000000
        NS
        USD
        6596427.24000000
        0.399488622404
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Intuit, Inc.
        VI90HBPH7XSFMB9E4M29
        Intuit, Inc.
        461202103
        
          
        
        3182.00000000
        NS
        USD
        1038000.22000000
        0.062862707774
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Starwood Property Trust, Inc.
        BUGSFQZERKRBFWIG5267
        Starwood Property Trust, Inc.
        85571B105
        
          
        
        267593.00000000
        NS
        USD
        4037978.37000000
        0.244545472517
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Discover Financial Services
        Z1YLO2USPORE63VVUL20
        Discover Financial Services
        254709108
        
          
        
        96351.00000000
        NS
        USD
        5567160.78000000
        0.337154843036
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Alexion Pharmaceuticals, Inc.
        M1YXUUZR0EIMU8T0EM75
        Alexion Pharmaceuticals, Inc.
        015351109
        
          
        
        60659.00000000
        NS
        USD
        6941209.37000000
        0.420369098021
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Western Alliance Bancorp
        5493003VJXZ5JXT9S762
        Western Alliance Bancorp
        957638109
        
          
        
        78455.00000000
        NS
        USD
        2480747.10000000
        0.150237424814
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        RBC Bearings, Inc.
        N/A
        RBC Bearings, Inc.
        75524B104
        
          
        
        1370.00000000
        NS
        USD
        166057.70000000
        0.010056680593
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Okta, Inc.
        549300N8J06I8MRHU620
        Okta, Inc.
        679295105
        
          
        
        37008.00000000
        NS
        USD
        7914160.80000000
        0.479292362433
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Target Corp.
        8WDDFXB5T1Z6J0XC1L66
        Target Corp.
        87612E106
        
          
        
        149794.00000000
        NS
        USD
        23580571.48000000
        1.428071541353
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Terreno Realty Corp.
        N/A
        Terreno Realty Corp.
        88146M101
        
          
        
        14722.00000000
        NS
        USD
        806176.72000000
        0.048823160715
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Interactive Brokers Group, Inc.
        5493004DT6DCDUZNDM53
        Interactive Brokers Group, Inc., Class A
        45841N107
        
          
        
        19961.00000000
        NS
        USD
        964715.13000000
        0.058424462860
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Edwards Lifesciences Corp.
        YA13X31F3V31L8TMPR58
        Edwards Lifesciences Corp.
        28176E108
        
          
        
        72981.00000000
        NS
        USD
        5825343.42000000
        0.352790735532
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Workday, Inc.
        549300J0DYC0N31V7G13
        Workday, Inc., Class A
        98138H101
        
          
        
        27322.00000000
        NS
        USD
        5877781.86000000
        0.355966478915
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Costco Wholesale Corp.
        29DX7H14B9S6O3FD6V18
        Costco Wholesale Corp.
        22160K105
        
          
        
        54212.00000000
        NS
        USD
        19245260.00000000
        1.165519170528
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Allison Transmission Holdings, Inc.
        529900RP7DJ882LI9T83
        Allison Transmission Holdings, Inc.
        01973R101
        
          
        
        14624.00000000
        NS
        USD
        513887.36000000
        0.031121718780
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Dentsply Sirona, Inc.
        9NHEHR1SOZCYXDO8HO28
        Dentsply Sirona, Inc.
        24906P109
        
          
        
        19093.00000000
        NS
        USD
        834936.89000000
        0.050564915801
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        TechnipFMC plc
        549300D5I93QWCJTCK36
        TechnipFMC plc
        N/A
        
          
        
        81900.00000000
        NS
        USD
        516789.00000000
        0.031297446052
        Long
        EC
        CORP
        GB
        N
        
        1
        
          N
          N
          N
        
      
      
        NRG Energy, Inc.
        5E2UPK5SW04M13XY7I38
        NRG Energy, Inc.
        629377508
        
          
        
        68737.00000000
        NS
        USD
        2112975.38000000
        0.127964668299
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Yum! Brands, Inc.
        549300JE8XHZZ7OHN517
        Yum! Brands, Inc.
        988498101
        
          
        
        25926.00000000
        NS
        USD
        2367043.80000000
        0.143351398026
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Apple, Inc.
        HWUPKR0MPOU8FGXBT394
        Apple, Inc.
        037833100
        
          
        
        842445.00000000
        NS
        USD
        97563555.45000000
        5.908581864931
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Collectors Universe, Inc.
        N/A
        Collectors Universe, Inc.
        19421R200
        
          
        
        5090.00000000
        NS
        USD
        251904.10000000
        0.015255655558
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Skechers USA, Inc.
        529900D2R54KZPA4XR56
        Skechers USA, Inc., Class A
        830566105
        
          
        
        5701.00000000
        NS
        USD
        172284.22000000
        0.010433767129
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Cintas Corp.
        N/A
        Cintas Corp.
        172908105
        
          
        
        29156.00000000
        NS
        USD
        9703991.48000000
        0.587686947361
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Cadence BanCorp
        54930022CKKXKBR5CK30
        Cadence BanCorp
        12739A100
        
          
        
        144004.00000000
        NS
        USD
        1236994.36000000
        0.074914064056
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CoreLogic, Inc.
        54930086CD8K2UIL0516
        CoreLogic, Inc.
        21871D103
        
          
        
        40870.00000000
        NS
        USD
        2765672.90000000
        0.167492919522
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Church & Dwight Co., Inc.
        POOXSI30AWAQGYJZC921
        Church & Dwight Co., Inc.
        171340102
        
          
        
        15887.00000000
        NS
        USD
        1488770.77000000
        0.090161986533
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Horizon Therapeutics plc
        529900P0GSQ79OOZEV53
        Horizon Therapeutics plc
        N/A
        
          
        
        259726.00000000
        NS
        USD
        20175515.68000000
        1.221856722140
        Long
        EC
        CORP
        IE
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Graham Holdings Co.
        529900BOSCEEEMAFQJ29
        Graham Holdings Co., Class B
        384637104
        
          
        
        2845.00000000
        NS
        USD
        1149692.95000000
        0.069626971703
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        STERIS plc
        N/A
        STERIS plc
        N/A
        
          
        
        1283.00000000
        NS
        USD
        226051.77000000
        0.013690003225
        Long
        EC
        CORP
        IE
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Essent Group Ltd.
        254900QUO860OUT6ZF83
        Essent Group Ltd.
        N/A
        
          
        
        23131.00000000
        NS
        USD
        856078.31000000
        0.051845269005
        Long
        EC
        CORP
        BM
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Teladoc Health, Inc.
        549300I2PVFBC9MFAC61
        Teladoc Health, Inc.
        87918A105
        
          
        
        9035.00000000
        NS
        USD
        1980833.40000000
        0.119961969925
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          
        
      
      
        National Instruments Corp.
        549300TP4OOPCYWDUP86
        National Instruments Corp.
        636518102
        
          
        
        6357.00000000
        NS
        USD
        226944.90000000
        0.013744092394
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        AutoZone, Inc.
        GA3JGKJ41LJKXDN23E90
        AutoZone, Inc.
        053332102
        
          
        
        2286.00000000
        NS
        USD
        2692085.04000000
        0.163036338444
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Black Knight, Inc.
        549300TUSNXS3BFFML48
        Black Knight, Inc.
        09215C105
        
          
        
        40860.00000000
        NS
        USD
        3556863.00000000
        0.215408470108
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Johnson Controls International plc
        549300XQ6S1GYKGBL205
        Johnson Controls International plc
        N/A
        
          
        
        96928.00000000
        NS
        USD
        3959508.80000000
        0.239793248429
        Long
        EC
        CORP
        IE
        
        N
        
        1
        
          N
          N
          N
        
      
      
        LPL Financial Holdings, Inc.
        549300XROQ4Y8G2L7682
        LPL Financial Holdings, Inc.
        50212V100
        
          
        
        1859.00000000
        NS
        USD
        142529.53000000
        0.008631782557
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        General Motors Co.
        54930070NSV60J38I987
        General Motors Co.
        37045V100
        
          
        
        164726.00000000
        NS
        USD
        4874242.34000000
        0.295190758091
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        SBA Communications Corp.
        5299001HX8ZN8Y8QIT49
        SBA Communications Corp.
        78410G104
        
          
        
        50073.00000000
        NS
        USD
        15947249.04000000
        0.965787132691
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Brighthouse Financial, Inc.
        5493003T8SZSHOGGAW52
        Brighthouse Financial, Inc.
        10922N103
        
          
        
        59191.00000000
        NS
        USD
        1592829.81000000
        0.096463943794
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        MDU Resources Group, Inc.
        N/A
        MDU Resources Group, Inc.
        552690109
        
          
        
        112386.00000000
        NS
        USD
        2528685.00000000
        0.153140609361
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Lam Research Corp.
        549300I4GMO6D34U1T02
        Lam Research Corp.
        512807108
        
          
        
        15650.00000000
        NS
        USD
        5191887.50000000
        0.314427781826
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Freshpet, Inc.
        549300S4ZK8ZQ6HNPN59
        Freshpet, Inc.
        358039105
        
          
        
        11453.00000000
        NS
        USD
        1278727.45000000
        0.077441476854
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        PulteGroup, Inc.
        N/A
        PulteGroup, Inc.
        745867101
        
          
        
        105243.00000000
        NS
        USD
        4871698.47000000
        0.295036697858
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Lions Gate Entertainment Corp.
        5493000JSMHPHZURLM72
        Lions Gate Entertainment Corp., Class B
        535919500
        
          
        
        22013.00000000
        NS
        USD
        191953.36000000
        0.011624957050
        Long
        EC
        CORP
        CA
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Penske Automotive Group, Inc.
        549300W7UTQ0M4C7LB15
        Penske Automotive Group, Inc.
        70959W103
        
          
        
        8426.00000000
        NS
        USD
        401583.16000000
        0.024320423394
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Visa, Inc.
        549300JZ4OKEHW3DPJ59
        Visa, Inc., Class A
        92826C839
        
          
        
        9615.00000000
        NS
        USD
        1922711.55000000
        0.116442031488
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Alphabet, Inc.
        5493006MHB84DD0ZWV18
        Alphabet, Inc., Class A
        02079K305
        
          
        
        16330.00000000
        NS
        USD
        23933248.00000000
        1.449430111986
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        FleetCor Technologies, Inc.
        549300DG6RR0NQSFLN74
        FleetCor Technologies, Inc.
        339041105
        
          
        
        7263.00000000
        NS
        USD
        1729320.30000000
        0.104729993859
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        HCA Healthcare, Inc.
        529900PH4ZGUH2MNEU89
        HCA Healthcare, Inc.
        40412C101
        
          
        
        145456.00000000
        NS
        USD
        18135454.08000000
        1.098307811714
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Teradyne, Inc.
        C3X4YJ278QNZHRJULN75
        Teradyne, Inc.
        880770102
        
          
        
        2395.00000000
        NS
        USD
        190306.70000000
        0.011525233077
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        PotlatchDeltic Corp.
        54930084YA8UJOTXDM59
        PotlatchDeltic Corp.
        737630103
        
          
        
        7273.00000000
        NS
        USD
        306193.30000000
        0.018543483488
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Perspecta, Inc.
        549300XIT2GJKMZC0O65
        Perspecta, Inc.
        715347100
        
          
        
        25756.00000000
        NS
        USD
        500954.20000000
        0.030338468986
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        NVR, Inc.
        529900RWXR4JI3JYTV70
        NVR, Inc.
        62944T105
        
          
        
        130.00000000
        NS
        USD
        530805.60000000
        0.032146310448
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Emerson Electric Co.
        FGLT0EWZSUIRRITFOA30
        Emerson Electric Co.
        291011104
        
          
        
        32308.00000000
        NS
        USD
        2118435.56000000
        0.128295344241
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Jefferies Financial Group, Inc.
        549300HOF34RGOJ5YL07
        Jefferies Financial Group, Inc.
        47233W109
        
          
        
        35277.00000000
        NS
        USD
        634986.00000000
        0.038455617436
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        QUALCOMM, Inc.
        H1J8DDZKZP6H7RWC0H53
        QUALCOMM, Inc.
        747525103
        
          
        
        11970.00000000
        NS
        USD
        1408629.60000000
        0.085308528072
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Fortive Corp.
        549300MU9YQJYHDQEF63
        Fortive Corp.
        34959J108
        
          
        
        13565.00000000
        NS
        USD
        1033788.65000000
        0.062607649356
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Arista Networks, Inc.
        635400H1WKBLOQERUU95
        Arista Networks, Inc.
        040413106
        
          
        
        1620.00000000
        NS
        USD
        335226.60000000
        0.020301779699
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Simpson Manufacturing Co., Inc.
        529900EJUNNL15LZ8056
        Simpson Manufacturing Co., Inc.
        829073105
        
          
        
        4685.00000000
        NS
        USD
        455194.60000000
        0.027567205255
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Electronic Arts, Inc.
        549300O7A67PUEYKDL45
        Electronic Arts, Inc.
        285512109
        
          
        
        57079.00000000
        NS
        USD
        7443672.39000000
        0.450798943203
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Goosehead Insurance, Inc.
        549300WH5MBIWHJ9XY95
        Goosehead Insurance, Inc., Class A
        38267D109
        
          
        
        9425.00000000
        NS
        USD
        816110.75000000
        0.049424779109
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Facebook, Inc.
        BQ4BKCS1HXDV9HN80Z93
        Facebook, Inc., Class A
        30303M102
        
          
        
        106950.00000000
        NS
        USD
        28010205.00000000
        1.696336183451
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Brandywine Realty Trust
        5UZ46ZCYUFYYAC0DS831
        Brandywine Realty Trust
        105368203
        
          
        
        23608.00000000
        NS
        USD
        244106.72000000
        0.014783435599
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        United Parcel Service, Inc.
        D01LMJZU09ULLNCY6Z23
        United Parcel Service, Inc., Class B
        911312106
        
          
        
        28238.00000000
        NS
        USD
        4705297.94000000
        0.284959255012
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Navient Corp.
        54930067J0ZNOEBRW338
        Navient Corp.
        63938C108
        
          
        
        70299.00000000
        NS
        USD
        594026.55000000
        0.035975057329
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        MGIC Investment Corp.
        254900S8483WM4M98R28
        MGIC Investment Corp.
        552848103
        
          
        
        80240.00000000
        NS
        USD
        710926.40000000
        0.043054671541
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Vistra Corp.
        549300KP43CPCUJOOG15
        Vistra Corp.
        92840M102
        
          
        
        85592.00000000
        NS
        USD
        1614265.12000000
        0.097762095377
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        EOG Resources, Inc.
        XWTZDRYZPBUHIQBKDB46
        EOG Resources, Inc.
        26875P101
        
          
        
        52235.00000000
        NS
        USD
        1877325.90000000
        0.113693414678
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Radian Group, Inc.
        54930005OUP720S5U385
        Radian Group, Inc.
        750236101
        
          
        
        28824.00000000
        NS
        USD
        421118.64000000
        0.025503518683
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Wingstop, Inc.
        549300SSH3F8HPIM3Q47
        Wingstop, Inc.
        974155103
        
          
        
        102575.00000000
        NS
        USD
        14016873.75000000
        0.848880974666
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Yum China Holdings, Inc.
        529900DO9BYZ7VA3K502
        Yum China Holdings, Inc.
        98850P109
        
          
        
        49027.00000000
        NS
        USD
        2595979.65000000
        0.157216065066
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Ingevity Corp.
        5493009UTFC4B5IMGF87
        Ingevity Corp.
        45688C107
        
          
        
        16346.00000000
        NS
        USD
        808146.24000000
        0.048942437530
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Tesla, Inc.
        54930043XZGB27CTOV49
        Tesla, Inc.
        88160R101
        
          
        
        28888.00000000
        NS
        USD
        12393240.88000000
        0.750551555583
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Entergy Corp.
        4XM3TW50JULSLG8BNC79
        Entergy Corp.
        29364G103
        
          
        
        38413.00000000
        NS
        USD
        3784832.89000000
        0.229214637294
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        TriState Capital Holdings, Inc.
        5493003JKSPN0881WX29
        TriState Capital Holdings, Inc.
        89678F100
        
          
        
        13919.00000000
        NS
        USD
        184287.56000000
        0.011160705756
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        IDEXX Laboratories, Inc.
        OGMTXK0LUU1HKV2P0J84
        IDEXX Laboratories, Inc.
        45168D104
        
          
        
        19999.00000000
        NS
        USD
        7861806.89000000
        0.476121738302
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Lowe's Cos., Inc.
        WAFCR4OKGSC504WU3E95
        Lowe's Cos., Inc.
        548661107
        
          
        
        108585.00000000
        NS
        USD
        18009908.10000000
        1.090704576088
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Navistar International Corp.
        WNDD3CRVXJGC8I7GX671
        Navistar International Corp.
        63934E108
        
          
        
        25746.00000000
        NS
        USD
        1120980.84000000
        0.067888127196
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        NVIDIA Corp.
        549300S4KLFTLO7GSQ80
        NVIDIA Corp.
        67066G104
        
          
        
        61648.00000000
        NS
        USD
        33365130.56000000
        2.020637772358
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Pinterest, Inc.
        N/A
        Pinterest, Inc., Class A
        72352L106
        
          
        
        237143.00000000
        NS
        USD
        9843805.93000000
        0.596154300974
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Reinsurance Group of America, Inc.
        LORM1GNEU1DKEW527V90
        Reinsurance Group of America, Inc.
        759351604
        
          
        
        17273.00000000
        NS
        USD
        1644216.87000000
        0.099576014171
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Molina Healthcare, Inc.
        549300NQQCEQ46YHZ591
        Molina Healthcare, Inc.
        60855R100
        
          
        
        6269.00000000
        NS
        USD
        1147477.76000000
        0.069492816778
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Independent Bank Group, Inc.
        N/A
        Independent Bank Group, Inc.
        45384B106
        
          
        
        32891.00000000
        NS
        USD
        1453124.38000000
        0.088003192581
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        YETI Holdings, Inc.
        549300DSQICIGNT5GO63
        YETI Holdings, Inc.
        98585X104
        
          
        
        39938.00000000
        NS
        USD
        1809990.16000000
        0.109615470507
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Texas Instruments, Inc.
        WDJNR2L6D8RWOEB8T652
        Texas Instruments, Inc.
        882508104
        
          
        
        63128.00000000
        NS
        USD
        9014047.12000000
        0.545902976754
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        IQVIA Holdings, Inc.
        549300W3R20NM4KQPH86
        IQVIA Holdings, Inc.
        46266C105
        
          
        
        7809.00000000
        NS
        USD
        1230932.67000000
        0.074546959849
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Illumina, Inc.
        SQ95QG8SR5Q56LSNF682
        Illumina, Inc.
        452327109
        
          
        
        25392.00000000
        NS
        USD
        7848159.36000000
        0.475295225288
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Activision Blizzard, Inc.
        549300TPQQDBP9GNOF40
        Activision Blizzard, Inc.
        00507V109
        
          
        
        4764.00000000
        NS
        USD
        385645.80000000
        0.023355235155
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        IAA, Inc.
        549300PZCOPC5178W747
        IAA, Inc.
        449253103
        
          
        
        10024.00000000
        NS
        USD
        521949.68000000
        0.031609983865
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Lamb Weston Holdings, Inc.
        5493005SMYID1D2OY946
        Lamb Weston Holdings, Inc.
        513272104
        
          
        
        35242.00000000
        NS
        USD
        2335487.34000000
        0.141440295807
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Trupanion, Inc.
        549300J86GFKIDGMQP18
        Trupanion, Inc.
        898202106
        
          
        
        75315.00000000
        NS
        USD
        5942353.50000000
        0.359877025423
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        American Financial Group, Inc.
        549300AFOM7IVKIU1G39
        American Financial Group, Inc.
        025932104
        
          
        
        35396.00000000
        NS
        USD
        2370824.08000000
        0.143580336934
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Sabra Health Care REIT, Inc.
        549300E3BC7GU7TAZ621
        Sabra Health Care REIT, Inc.
        78573L106
        
          
        
        96618.00000000
        NS
        USD
        1331879.13000000
        0.080660415023
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Hexcel Corp.
        S6Q7LW43WUBUHXY2QP69
        Hexcel Corp.
        428291108
        
          
        
        65250.00000000
        NS
        USD
        2189137.50000000
        0.132577150070
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        PNC Financial Services Group, Inc. (The)
        CFGNEKW0P8842LEUIA51
        PNC Financial Services Group, Inc. (The)
        693475105
        
          
        
        5054.00000000
        NS
        USD
        555485.14000000
        0.033640937021
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        PennyMac Mortgage Investment Trust
        549300BSSOQO1ZWDUJ97
        PennyMac Mortgage Investment Trust
        70931T103
        
          
        
        29824.00000000
        NS
        USD
        479271.68000000
        0.029025346029
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Lancaster Colony Corp.
        529900X4O13HED1ZAS58
        Lancaster Colony Corp.
        513847103
        
          
        
        9833.00000000
        NS
        USD
        1758140.40000000
        0.106475378388
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Dow, Inc.
        5493003S21INSLK2IP73
        Dow, Inc.
        260557103
        
          
        
        8601.00000000
        NS
        USD
        404677.05000000
        0.024507793589
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Universal Health Services, Inc.
        549300YGMGQDO0NMJD09
        Universal Health Services, Inc., Class B
        913903100
        
          
        
        52873.00000000
        NS
        USD
        5658468.46000000
        0.342684560559
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Union Pacific Corp.
        549300LMMRSZZCZ8CL11
        Union Pacific Corp.
        907818108
        
          
        
        61767.00000000
        NS
        USD
        12160069.29000000
        0.736430366357
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        SITE Centers Corp.
        W2AVA6SODOQ1LCYJQR54
        SITE Centers Corp.
        82981J109
        
          
        
        152293.00000000
        NS
        USD
        1096509.60000000
        0.066406115556
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Humana, Inc.
        529900YLDW34GJAO4J06
        Humana, Inc.
        444859102
        
          
        
        34579.00000000
        NS
        USD
        14311902.31000000
        0.866748306286
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Take-Two Interactive Software, Inc.
        BOMSTHHJK882EWYX3334
        Take-Two Interactive Software, Inc.
        874054109
        
          
        
        53667.00000000
        NS
        USD
        8866861.74000000
        0.536989229576
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        US Bancorp
        N1GZ7BBF3NP8GI976H15
        US Bancorp
        902973304
        
          
        
        63332.00000000
        NS
        USD
        2270452.20000000
        0.137501679107
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Fortinet, Inc.
        549300O0QJWDBAS0QX03
        Fortinet, Inc.
        34959E109
        
          
        
        79080.00000000
        NS
        USD
        9316414.80000000
        0.564214775482
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Thermo Fisher Scientific, Inc.
        HCHV7422L5HDJZCRFL38
        Thermo Fisher Scientific, Inc.
        883556102
        
          
        
        3494.00000000
        NS
        USD
        1542670.88000000
        0.093426250643
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Marsh & McLennan Cos., Inc.
        549300XMP3KDCKJXIU47
        Marsh & McLennan Cos., Inc.
        571748102
        
          
        
        15650.00000000
        NS
        USD
        1795055.00000000
        0.108710976866
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CMS Energy Corp.
        549300IA9XFBAGNIBW29
        CMS Energy Corp.
        125896100
        
          
        
        43619.00000000
        NS
        USD
        2678642.79000000
        0.162222257467
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Home Depot, Inc. (The)
        QEKMOTMBBKA8I816DO57
        Home Depot, Inc. (The)
        437076102
        
          
        
        34609.00000000
        NS
        USD
        9611265.39000000
        0.582071328996
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Core Laboratories NV
        724500MDYY5VBSAF5W50
        Core Laboratories NV
        N/A
        
          
        
        7426.00000000
        NS
        USD
        113320.76000000
        0.006862859644
        Long
        EC
        CORP
        NL
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Snap-on, Inc.
        HHWAT5TDOYZMM26KKQ73
        Snap-on, Inc.
        833034101
        
          
        
        30166.00000000
        NS
        USD
        4438323.58000000
        0.268790923972
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Signature Bank
        VLP5AP0XK2GM6GKD1007
        Signature Bank
        82669G104
        
          
        
        30371.00000000
        NS
        USD
        2520489.29000000
        0.152644265996
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Quidel Corp.
        549300X2FQ6S98OQLQ46
        Quidel Corp.
        74838J101
        
          
        
        4621.00000000
        NS
        USD
        1013754.98000000
        0.061394383001
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CF Industries Holdings, Inc.
        529900CG8YAQFZ2JMV97
        CF Industries Holdings, Inc.
        125269100
        
          
        
        98594.00000000
        NS
        USD
        3027821.74000000
        0.183369010494
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Roku, Inc.
        549300KR6ITU0YIR1T71
        Roku, Inc.
        77543R102
        
          
        
        11855.00000000
        NS
        USD
        2238224.00000000
        0.135549895399
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Rush Enterprises, Inc.
        529900V3XHTN7A6DFT17
        Rush Enterprises, Inc., Class A
        781846209
        
          
        
        31103.00000000
        NS
        USD
        1571945.62000000
        0.095199168789
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Amcor plc
        549300GSODGFCDQ3DI89
        Amcor plc
        N/A
        
          
        
        301226.00000000
        NS
        USD
        3328547.30000000
        0.201581360197
        Long
        EC
        CORP
        JE
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Retail Opportunity Investments Corp.
        N/A
        Retail Opportunity Investments Corp.
        76131N101
        
          
        
        36344.00000000
        NS
        USD
        378522.76000000
        0.022923854147
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        International Game Technology plc
        549300UQ6KHRCZDRGZ76
        International Game Technology plc
        N/A
        
          
        
        161586.00000000
        NS
        USD
        1798452.18000000
        0.108916714716
        Long
        EC
        CORP
        GB
        
        N
        
        1
        
          N
          N
          N
        
      
      
        MarketAxess Holdings, Inc.
        5493002U1CA1XJOVID83
        MarketAxess Holdings, Inc.
        57060D108
        
          
        
        4946.00000000
        NS
        USD
        2381944.14000000
        0.144253782920
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Walker & Dunlop, Inc.
        N/A
        Walker & Dunlop, Inc.
        93148P102
        
          
        
        27264.00000000
        NS
        USD
        1444992.00000000
        0.087510684566
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Twist Bioscience Corp.
        549300T23BL59LCOH584
        Twist Bioscience Corp.
        90184D100
        
          
        
        6486.00000000
        NS
        USD
        492741.42000000
        0.029841091838
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        G-III Apparel Group Ltd.
        529900O5KABM3R3SFM87
        G-III Apparel Group Ltd.
        36237H101
        
          
        
        32262.00000000
        NS
        USD
        422954.82000000
        0.025614720246
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Chemed Corp.
        54930020031IDJT2IM79
        Chemed Corp.
        16359R103
        
          
        
        1859.00000000
        NS
        USD
        892970.65000000
        0.054079519387
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Palo Alto Networks, Inc.
        549300QXR2YVZV231H43
        Palo Alto Networks, Inc.
        697435105
        
          
        
        6494.00000000
        NS
        USD
        1589406.50000000
        0.096256623475
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Applied Materials, Inc.
        41BNNE1AFPNAZELZ6K07
        Applied Materials, Inc.
        038222105
        
          
        
        218165.00000000
        NS
        USD
        12969909.25000000
        0.785475377879
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Public Service Enterprise Group, Inc.
        PUSS41EMO3E6XXNV3U28
        Public Service Enterprise Group, Inc.
        744573106
        
          
        
        50963.00000000
        NS
        USD
        2798378.33000000
        0.169473604929
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Olin Corp.
        549300GKK294V7W57P06
        Olin Corp.
        680665205
        
          
        
        56853.00000000
        NS
        USD
        703840.14000000
        0.042625517979
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        East West Bancorp, Inc.
        N/A
        East West Bancorp, Inc.
        27579R104
        
          
        
        40193.00000000
        NS
        USD
        1315918.82000000
        0.079693836901
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Vertex Pharmaceuticals, Inc.
        54930015RAQRRZ5ZGJ91
        Vertex Pharmaceuticals, Inc.
        92532F100
        
          
        
        72037.00000000
        NS
        USD
        19602708.44000000
        1.187166735138
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Inphi Corp.
        549300DCMERAAZFGT726
        Inphi Corp.
        45772F107
        
          
        
        15046.00000000
        NS
        USD
        1688913.50000000
        0.102282902990
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        McKesson Corp.
        549300WZWOM80UCFSF54
        McKesson Corp.
        58155Q103
        
          
        
        17371.00000000
        NS
        USD
        2587063.03000000
        0.156676062408
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Oracle Corp.
        1Z4GXXU7ZHVWFCD8TV52
        Oracle Corp.
        68389X105
        
          
        
        75324.00000000
        NS
        USD
        4496842.80000000
        0.272334927678
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Western Union Co. (The)
        28ID94QU1140NC23S047
        Western Union Co. (The)
        959802109
        
          
        
        78001.00000000
        NS
        USD
        1671561.43000000
        0.101232037986
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        ONEOK, Inc.
        2T3D6M0JSY48PSZI1Q41
        ONEOK, Inc.
        682680103
        
          
        
        8760.00000000
        NS
        USD
        227584.80000000
        0.013782845610
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        frontdoor, Inc.
        5493008RB0JZJI3QGZ06
        frontdoor, Inc.
        35905A109
        
          
        
        33403.00000000
        NS
        USD
        1299710.73000000
        0.078712252884
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        EPAM Systems, Inc.
        549300XCR4R530HJP604
        EPAM Systems, Inc.
        29414B104
        
          
        
        5074.00000000
        NS
        USD
        1640322.72000000
        0.099340179140
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        EverQuote, Inc.
        N/A
        EverQuote, Inc., Class A
        30041R108
        
          
        
        4968.00000000
        NS
        USD
        191963.52000000
        0.011625572354
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        First BanCorp
        N/A
        First BanCorp
        318672706
        
          
        
        40192.00000000
        NS
        USD
        209802.24000000
        0.012705909545
        Long
        EC
        CORP
        PR
        N
        
        1
        
          N
          N
          N
        
      
      
        Regeneron Pharmaceuticals, Inc.
        549300RCBFWIRX3HYQ56
        Regeneron Pharmaceuticals, Inc.
        75886F107
        
          
        
        22821.00000000
        NS
        USD
        12774739.38000000
        0.773655624600
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Axalta Coating Systems Ltd.
        529900AGLPA40GV6H619
        Axalta Coating Systems Ltd.
        N/A
        
          
        
        319536.00000000
        NS
        USD
        7084113.12000000
        0.429023543851
        Long
        EC
        CORP
        BM
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Teleflex, Inc.
        UUL85LWXB4NGSWWXIQ25
        Teleflex, Inc.
        879369106
        
          
        
        943.00000000
        NS
        USD
        321016.06000000
        0.019441170032
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Sage Therapeutics, Inc.
        5493000JX4BJS9W6CN35
        Sage Therapeutics, Inc.
        78667J108
        
          
        
        8738.00000000
        NS
        USD
        534066.56000000
        0.032343798629
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Anthem, Inc.
        8MYN82XMYQH89CTMTH67
        Anthem, Inc.
        036752103
        
          
        
        53424.00000000
        NS
        USD
        14349152.16000000
        0.869004207961
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Goldman Sachs Financial Square Funds - Government Fund
        549300BRJMXN4GUWZ402
        Goldman Sachs Financial Square Government Fund - Institutional Shares
        38141W273
        
          
        
        2112125.00000000
        NS
        USD
        2112125.00000000
        0.127913168128
        Long
        STIV
        RF
        US
        N
        
        1
        
          
          N
          N
        
      
    
    
      2020-10-30
      Goldman Sachs Trust
      Peter Fortner
      Peter Fortner
      Assistant Treasurer
    
  
  XXXX



GOLDMAN SACHS U.S. EQUITY DIVIDEND AND PREMIUM FUND

 

Schedule of Investments

September 30, 2020 (Unaudited)

 

Shares      Description   Value
  Common Stocks – 99.8%
 

Automobiles & Components – 0.2%

  139,719      Gentex Corp.   $       3,597,764
  3,260      Tesla, Inc.*   1,398,573
  2,072      Thor Industries, Inc.   197,379
    

 

     5,193,716

 

 

 

Banks – 3.7%

  34,900      Credicorp Ltd.   4,327,251
  1,400      Cullen/Frost Bankers, Inc.   89,530
  3,600      First Horizon National Corp.   33,948
  15,500      FNB Corp.   105,090
  753,100      Huntington Bancshares, Inc.   6,905,927
  389,629      JPMorgan Chase & Co.(a)(b)   37,509,584
  703,999      New York Community Bancorp, Inc.(b)   5,822,072
  434,000      PacWest Bancorp   7,412,720
  1,053,099      People’s United Financial, Inc.(b)   10,857,450
  81,400      PNC Financial Services Group, Inc. (The)   8,946,674
  18,700      Synovus Financial Corp.   395,879
  4,400      TCF Financial Corp.   102,784
  198,000      Truist Financial Corp.   7,533,900
  375,700      Umpqua Holdings Corp.   3,989,934
  400      Webster Financial Corp.   10,564
    

 

     94,043,307

 

 

 

Capital Goods – 6.8%

  111,368      3M Co.   17,838,926
  700      Air Lease Corp.   20,594
  1,300      Carlisle Cos., Inc.   159,081
  104,187      Caterpillar, Inc.   15,539,491
  8,565      Crane Co.   429,363
  39,662      Cummins, Inc.   8,375,028
  1,841      Donaldson Co., Inc.   85,459
  147,062      Eaton Corp. plc   15,004,736
  176,061      Emerson Electric Co.   11,544,320
  196,998      Fastenal Co.   8,882,640
  103,224      Honeywell International, Inc.   16,991,703
  14,822      Hubbell, Inc.   2,028,242
  78,550      Illinois Tool Works, Inc.   15,176,645
  226,938      Johnson Controls International plc   9,270,417
  41,101      L3Harris Technologies, Inc.   6,980,594
  600      Lincoln Electric Holdings, Inc.   55,224
  54,334      Lockheed Martin Corp.   20,825,136
  60,400      MSC Industrial Direct Co., Inc. Class A   3,822,112
  2,143      nVent Electric plc   37,910
  18,234      Owens Corning   1,254,682
  199,430      Raytheon Technologies Corp.   11,475,202
  12,552      Timken Co. (The)   680,569
  24,056      Trinity Industries, Inc.   469,092
  4,800      Virgin Galactic Holdings, Inc.*(c)   92,304
  25,799      Watsco, Inc.   6,008,329
  554      Woodward, Inc.   44,409
    

 

     173,092,208

 

 

 

Commercial & Professional Services – 0.1%

  9,400      CoreLogic, Inc.   636,098
  16      CoStar Group, Inc.*   13,576
  10,900      ManpowerGroup, Inc.   799,297
  1,100      MSA Safety, Inc.   147,587
  1,784      TransUnion   150,088
    

 

     1,746,646

 

 

Shares      Description   Value
  Common Stocks – (continued)
 

Consumer Durables & Apparel – 1.0%

  2,433      Capri Holdings Ltd.*   $            43,794
  33,700      Garmin Ltd.   3,196,782
  66,030      Leggett & Platt, Inc.   2,718,404
  427      Lennar Corp. Class B   28,037
  2,437      Lululemon Athletica, Inc.*   802,675
  123,100      NIKE, Inc. Class B   15,453,974
  5,769      Tempur Sealy International, Inc.*   514,537
  57,820      Toll Brothers, Inc.   2,813,521
    

 

     25,571,724

 

 

 

Consumer Services – 1.1%

  11,871      Aramark   313,988
  5,500      Bright Horizons Family Solutions, Inc.*   836,220
  3,500      Chegg, Inc.*   250,040
  8,027      Choice Hotels International, Inc.   690,001
  63,302      Extended Stay America, Inc.   756,459
  11,719      Hyatt Hotels Corp. Class A   625,443
  52,137      McDonald’s Corp.   11,443,550
  15,465      Planet Fitness, Inc. Class A*   952,953
  81,600      Six Flags Entertainment Corp.   1,656,480
  76,800      Starbucks Corp.   6,598,656
  18,477      Wendy’s Co. (The)   411,945
  127,900      Wyndham Destinations, Inc.   3,934,204
  14,043      Wyndham Hotels & Resorts, Inc.   709,171
    

 

     29,179,110

 

 

 

Diversified Financials – 3.1%

  9,698      Ally Financial, Inc.   243,129
  97,060      American Express Co.   9,730,265
  30,800      Apollo Global Management, Inc.   1,378,300
  57,700      Ares Management Corp.   2,332,234
  86,326      Berkshire Hathaway, Inc. Class B*   18,382,258
  18,200      BlackRock, Inc.   10,256,610
  25,800      Carlyle Group, Inc. (The)   636,486
  42,800      CME Group, Inc.   7,160,868
  37,400      Eaton Vance Corp.   1,426,810
  7,600      Equitable Holdings, Inc.   138,624
  1,110,204      Invesco Ltd.   12,667,427
  3,373      KKR & Co., Inc.   115,829
  2,083      OneMain Holdings, Inc.   65,094
  56,801      Santander Consumer USA Holdings, Inc.   1,033,210
  85,800      T. Rowe Price Group, Inc.   11,001,276
  21,618      TD Ameritrade Holding Corp.   846,345
  118,400      Virtu Financial, Inc. Class A   2,724,384
    

 

     80,139,149

 

 

 

Energy – 1.6%

  237,098      Chevron Corp.   17,071,056
  412,319      Exxon Mobil Corp.(b)   14,154,911
  445,300      Kinder Morgan, Inc.   5,490,549
  178,400      ONEOK, Inc.   4,634,832
    

 

     41,351,348

 

 

 

Food & Staples Retailing – 1.3%

  26,354      Costco Wholesale Corp.   9,355,670
  136,600      Walgreens Boots Alliance, Inc.   4,906,672
  139,941      Walmart, Inc.   19,579,145
    

 

     33,841,487

 

 

 


GOLDMAN SACHS U.S. EQUITY DIVIDEND AND PREMIUM FUND

 

Schedule of Investments (continued)

September 30, 2020 (Unaudited)

 

Shares      Description   Value
  Common Stocks – (continued)
 

Food, Beverage & Tobacco – 3.9%

  318,759      Altria Group, Inc.   $     12,316,848
  59,900      Bunge Ltd.   2,737,430
  545,000      Coca-Cola Co. (The)(a)   26,906,650
  93,600      Flowers Foods, Inc.   2,277,288
  185,934      General Mills, Inc.   11,468,409
  1,200      Ingredion, Inc.   90,816
  15,800      Keurig Dr Pepper, Inc.   436,080
  336,300      Kraft Heinz Co. (The)   10,072,185
  194,582      PepsiCo, Inc.   26,969,065
  95,254      Philip Morris International, Inc.   7,143,098
    

 

     100,417,869

 

 

 

Health Care Equipment & Services – 5.9%

  215,942      Abbott Laboratories   23,500,968
  36,379      Anthem, Inc.   9,771,036
  27,268      Becton Dickinson and Co.   6,344,718
  97,900      Cardinal Health, Inc.   4,596,405
  26,368      Change Healthcare, Inc.*   382,600
  260,578      CVS Health Corp.   15,217,755
  11,001      DexCom, Inc.*   4,534,942
  33,298      Encompass Health Corp.   2,163,704
  7,143      Envista Holdings Corp.*   176,289
  100      Guardant Health, Inc.*   11,178
  8,883      Hill-Rom Holdings, Inc.   741,819
  11,200      Insulet Corp.*   2,649,808
  256,053      Medtronic plc   26,609,028
  915      Molina Healthcare, Inc.*   167,482
  800      Novocure Ltd.*   89,048
  4,341      Penumbra, Inc.*   843,803
  68,640      Stryker Corp.   14,302,517
  5,000      Tandem Diabetes Care, Inc.*   567,500
  1,500      Teladoc Health, Inc.*(c)   328,860
  120,077      UnitedHealth Group, Inc.(a)   37,436,406
    

 

     150,435,866

 

 

 

Household & Personal Products – 1.9%

  72,798      Kimberly-Clark Corp.   10,749,353
  7,900      Nu Skin Enterprises, Inc. Class A   395,711
  262,098      Procter & Gamble Co. (The)(a)   36,429,001
    

 

     47,574,065

 

 

 

Insurance – 1.8%

  1,500      Axis Capital Holdings Ltd.   66,060
  4,100      CNA Financial Corp.   122,959
  143,800      Fidelity National Financial, Inc.   4,502,378
  45,800      First American Financial Corp.   2,331,678
  210,199      Mercury General Corp.   8,695,933
  175,001      MetLife, Inc.   6,504,787
  427,306      Old Republic International Corp.   6,298,490
  142,799      Principal Financial Group, Inc.   5,750,516
  199,900      Prudential Financial, Inc.   12,697,648
    

 

     46,970,449

 

 

 

Materials – 3.0%

  49,426      Air Products and Chemicals, Inc.   14,722,028
  7,400      Ashland Global Holdings, Inc.   524,808
  162,249      Dow, Inc.   7,633,815
  7,604      Graphic Packaging Holding Co.   107,140
  50,400      International Flavors & Fragrances, Inc.(c)   6,171,480
  448,899      International Paper Co.   18,198,366
  72,419      Linde plc   17,245,137
  73,580      Newmont Corp.   4,668,651

 

 

Shares      Description   Value
  Common Stocks – (continued)
 

Materials – (continued)

  3,799      Reliance Steel & Aluminum Co.   $          387,650
  15,623      RPM International, Inc.   1,294,209
  15,400      Sonoco Products Co.   786,478
  134,200      Southern Copper Corp.   6,075,234
  2,203      Steel Dynamics, Inc.   63,072
  2,300      W R Grace & Co.   92,667
    

 

     77,970,735

 

 

 

Media & Entertainment – 8.6%

  72,752      Activision Blizzard, Inc.   5,889,274
  32,629      Alphabet, Inc. Class A*   47,821,062
  18,505      Alphabet, Inc. Class C*(a)   27,194,948
  542,319      Comcast Corp. Class A   25,087,677
  226,694      Facebook, Inc. Class A*   59,371,159
  408,901      Interpublic Group of Cos., Inc. (The)   6,816,380
  2,761      Liberty Broadband Corp. Class A*   391,537
  43,624      Netflix, Inc.*   21,812,919
  11,493      Nexstar Media Group, Inc. Class A   1,033,566
  145,300      Omnicom Group, Inc.   7,192,350
  10,100      Pinterest, Inc. Class A*   419,251
  2,328      Roku, Inc.*   439,526
  64,642      Sirius XM Holdings, Inc.   346,481
  35,000      Snap, Inc. Class A*   913,850
  39,800      TripAdvisor, Inc.   779,682
  700      ViacomCBS, Inc. Class A   21,203
  85,250      Walt Disney Co. (The)   10,577,820
  2,346      World Wrestling Entertainment, Inc. Class A   94,943
  9,275      Zillow Group, Inc. Class A*   941,784
  30,202      Zillow Group, Inc. Class C*   3,068,221
    

 

     220,213,633

 

 

 

Pharmaceuticals, Biotechnology & Life Sciences – 8.2%

  2,200      10X Genomics, Inc. Class A*   274,296
  305,086      AbbVie, Inc.(a)(b)   26,722,483
  5,800      Adaptive Biotechnologies Corp.*   282,054
  7,322      Agios Pharmaceuticals, Inc.*   256,270
  6,645      Alnylam Pharmaceuticals, Inc.*   967,512
  69,902      Amgen, Inc.   17,766,292
  1,832      Bio-Techne Corp.   453,841
  888      Bluebird Bio, Inc.*   47,908
  335,001      Bristol-Myers Squibb Co.(a)   20,197,210
  7,653      Bruker Corp.   304,207
  6,275      Charles River Laboratories International, Inc.*   1,420,974
  86,878      Eli Lilly and Co.   12,859,682
  2,808      Exact Sciences Corp.*   286,276
  230,194      Gilead Sciences, Inc.   14,545,959
  1,100      Global Blood Therapeutics, Inc.*   60,654
  7,500      Immunomedics, Inc.*   637,725
  5,100      Iovance Biotherapeutics, Inc.*   167,892
  275,234      Johnson & Johnson   40,976,838
  302,253      Merck & Co., Inc.   25,071,886
  3,585      Moderna, Inc.*   253,639
  710,699      Pfizer, Inc.   26,082,653
  5,631      QIAGEN NV*   294,276
  900      Repligen Corp.*   132,786
  1,420      Sage Therapeutics, Inc.*   86,790
  2,687      Seattle Genetics, Inc.*   525,819
  7,000      Syneos Health, Inc.*   372,120

 

 

 


GOLDMAN SACHS U.S. EQUITY DIVIDEND AND PREMIUM FUND

 

Schedule of Investments (continued)

September 30, 2020 (Unaudited)

 

Shares      Description   Value
  Common Stocks – (continued)
 

Pharmaceuticals, Biotechnology & Life Sciences – (continued)

  43,196      Thermo Fisher Scientific, Inc.   $  19,071,898
    

 

     210,119,940

 

 

 

Real Estate – 2.5%

  4,928      American Campus Communities, Inc. (REIT)   172,086
  58,391      American Homes 4 Rent Class A (REIT)   1,662,976
  44,401      American Tower Corp. (REIT)   10,733,054
  1,797      Brandywine Realty Trust (REIT)   18,581
  3,320      Brixmor Property Group, Inc. (REIT)   38,811
  16,087      Camden Property Trust (REIT)   1,431,421
  2,076      Corporate Office Properties Trust (REIT)   49,243
  3,658      Cousins Properties, Inc. (REIT)   104,582
  45,100      Crown Castle International Corp. (REIT)   7,509,150
  4,400      CyrusOne, Inc. (REIT)   308,132
  21,700      Digital Realty Trust, Inc. (REIT)   3,184,692
  78      Douglas Emmett, Inc. (REIT)   1,958
  1,403      EPR Properties (REIT)   38,582
  9,000      Equinix, Inc. (REIT)   6,841,170
  55,100      Equity LifeStyle Properties, Inc. (REIT)   3,377,630
  5,800      First Industrial Realty Trust, Inc. (REIT)   230,840
  7,270      Gaming and Leisure Properties, Inc. (REIT)   268,481
  7,526      Healthcare Trust of America, Inc. Class A (REIT)   195,676
  602      Highwoods Properties, Inc. (REIT)   20,209
  864      Howard Hughes Corp. (The)*   49,766
  6,897      Hudson Pacific Properties, Inc. (REIT)   151,251
  87,000      Invitation Homes, Inc. (REIT)   2,435,130
  2,156      Lamar Advertising Co. Class A (REIT)   142,662
  37,320      Medical Properties Trust, Inc. (REIT)   657,952
  5,561      National Retail Properties, Inc. (REIT)   191,910
  10,405      Omega Healthcare Investors, Inc. (REIT)   311,526
  29,335      Outfront Media, Inc. (REIT)   426,824
  8,383      Park Hotels & Resorts, Inc. (REIT)   83,746
  102,727      Prologis, Inc. (REIT)   10,336,391
  24,200      SBA Communications Corp. (REIT)   7,707,216
  1,781      Spirit Realty Capital, Inc. (REIT)   60,109
  12,591      STORE Capital Corp. (REIT)   345,371
  30,693      Sun Communities, Inc. (REIT)   4,315,743
  57,963      VEREIT, Inc. (REIT)   376,759
  1,280      WP Carey, Inc. (REIT)   83,405
    

 

     63,863,035

 

 

 

Retailing – 8.2%

  39,786      Amazon.com, Inc.*(a)   125,275,372
  4,907      Burlington Stores, Inc.*   1,011,284
  7,875      Carvana Co.*   1,756,597

 

 

Shares      Description   Value
  Common Stocks – (continued)
 

Retailing – (continued)

  19,200      Etsy, Inc.*   $    2,335,296
  5,281      Five Below, Inc.*   670,687
  14,900      Foot Locker, Inc.   492,147
  6,781      Grubhub, Inc.*   490,470
  153,476      Home Depot, Inc. (The)   42,621,820
  113,699      Lowe’s Cos., Inc.   18,858,116
  518      MercadoLibre, Inc.*   560,725
  79,015      Target Corp.   12,438,541
  3,962      Wayfair, Inc. Class A*   1,152,981
  16,500      Williams-Sonoma, Inc.   1,492,260
    

 

     209,156,296

 

 

 

Semiconductors & Semiconductor Equipment – 5.6%

  115,317      Advanced Micro Devices, Inc.*   9,454,841
  51,900      Analog Devices, Inc.   6,058,806
  77,590      Broadcom, Inc.   28,267,589
  5,800      Enphase Energy, Inc.*   479,022
  100      Inphi Corp.*   11,225
  420,509      Intel Corp.   21,773,956
  24,653      Lam Research Corp.   8,178,633
  62,300      Marvell Technology Group Ltd.   2,473,310
  57,200      NVIDIA Corp.   30,957,784
  2,000      NXP Semiconductors NV   249,620
  111,197      QUALCOMM, Inc.   13,085,663
  1,400      SolarEdge Technologies, Inc.*   333,690
  1,644      Teradyne, Inc.   130,632
  149,450      Texas Instruments, Inc.(a)   21,339,965
    

 

     142,794,736

 

 

 

Software & Services – 14.8%

  2,700      2U, Inc.*   91,422
  59,000      Accenture plc Class A   13,333,410
  37,091      Adobe, Inc.*   18,190,539
  12,000      Alteryx, Inc. Class A*   1,362,600
  22,400      Amdocs Ltd.   1,285,984
  7,500      Anaplan, Inc.*   469,350
  7,300      Atlassian Corp. plc Class A*   1,327,067
  53,408      Automatic Data Processing, Inc.   7,449,882
  600      Avalara, Inc.*   76,404
  12,836      Booz Allen Hamilton Holding Corp.   1,065,131
  6,600      Cloudflare, Inc. Class A*   270,996
  8,400      Coupa Software, Inc.*   2,303,616
  1,000      Crowdstrike Holdings, Inc. Class A*   137,320
  7,100      Datadog, Inc. Class A*   725,336
  3,768      DocuSign, Inc.*   811,024
  2,900      Dynatrace, Inc.*   118,958
  100      Everbridge, Inc.*   12,573
  1,700      Fastly, Inc. Class A*   159,256
  80,572      Fidelity National Information Services, Inc.   11,861,004
  4,800      FireEye, Inc.*   59,256
  9,700      HubSpot, Inc.*   2,834,631
  239,801      International Business Machines Corp.   29,176,588
  70,700      Mastercard, Inc. Class A   23,908,619
  713,433      Microsoft Corp.(a)(b)   150,056,363
  3,622      MongoDB, Inc.*   838,529
  6,400      Nutanix, Inc. Class A*   141,952
  3,527      Okta, Inc.*   754,249
  208,200      Paychex, Inc.   16,608,114
  3,000      Paylocity Holding Corp.*   484,260

 

 

 


GOLDMAN SACHS U.S. EQUITY DIVIDEND AND PREMIUM FUND

 

Schedule of Investments (continued)

September 30, 2020 (Unaudited)

 

Shares      Description   Value
  Common Stocks – (continued)
 

Software & Services – (continued)

  83,300      PayPal Holdings, Inc.*   $     16,412,599
  2,300      Pluralsight, Inc. Class A*   39,399
  1,400      RingCentral, Inc. Class A*   384,454
  85,049      salesforce.com, Inc.*   21,374,515
  22,462      ServiceNow, Inc.*   10,894,070
  14,000      Slack Technologies, Inc. Class A*   376,040
  2,000      Smartsheet, Inc. Class A*   98,840
  11,600      Splunk, Inc.*   2,182,308
  7,510      Square, Inc. Class A*   1,220,751
  14,587      Switch, Inc. Class A   227,703
  4,200      Trade Desk, Inc. (The) Class A*   2,178,876
  6,200      Twilio, Inc. Class A*   1,531,958
  138,455      Visa, Inc. Class A   27,686,846
  256,699      Western Union Co. (The)   5,501,060
  3,400      Workday, Inc. Class A*   731,442
  11,600      Zendesk, Inc.*   1,193,872
  500      Zoom Video Communications, Inc. Class A*   235,055
  4,700      Zscaler, Inc.*   661,243
    

 

     378,845,464

 

 

 

Technology Hardware & Equipment – 8.8%

  1,498,556      Apple, Inc.(a)   173,547,771
  500      Avnet, Inc.   12,920
  635,648      Cisco Systems, Inc.(a)   25,038,175
  244,181      Corning, Inc.   7,913,906
  12,014      Dolby Laboratories, Inc. Class A   796,288
  30,759      Flex Ltd.*   342,655
  363,000      HP, Inc.   6,893,370
  1,400      Jabil, Inc.   47,964
  1,000      Littelfuse, Inc.   177,340
  67,630      National Instruments Corp.   2,414,391
  171,500      NetApp, Inc.   7,518,560
    

 

     224,703,340

 

 

 

Telecommunication Services – 2.5%

  1,217,928      AT&T, Inc.(a)   34,723,127
  509,002      Verizon Communications, Inc.(b)   30,280,529
    

 

     65,003,656

 

 

 

Transportation – 1.9%

  18,284      JetBlue Airways Corp.*   207,158
  12,400      Knight-Swift Transportation Holdings, Inc.   504,680
  17,224      Lyft, Inc. Class A*   474,521
  42,346      Norfolk Southern Corp.   9,061,621
  33,000      Ryder System, Inc.   1,393,920
  12,582      Uber Technologies, Inc.*   458,991
  118,762      Union Pacific Corp.   23,380,675
  71,298      United Parcel Service, Inc. Class B   11,880,386
    

 

     47,361,952

 

 

 

Utilities – 3.3%

  53,000      Consolidated Edison, Inc.   4,123,400
  295,897      Dominion Energy, Inc.   23,355,150
  265,600      Duke Energy Corp.   23,521,536
  21,700      MDU Resources Group, Inc.   488,250
  1,400      OGE Energy Corp.   41,986
  609,201      PPL Corp.   16,576,359

 

 

Shares      Description   Value
  Common Stocks – (continued)
 

Utilities – (continued)

  316,501      Southern Co. (The)   $     17,160,685
    

 

     85,267,366

 

 

 
TOTAL COMMON STOCKS
(Cost $2,030,529,388)
  $2,554,857,097

 

 

Shares      Dividend
Rate
  Value
  Investment Company(d) – 1.5%
 

Goldman Sachs Financial Square Government Fund — Institutional
Shares

  37,942,365      0.027%   $     37,942,365
  (Cost $37,942,365)  

 

 

 

TOTAL INVESTMENTS BEFORE SECURITIES
LENDING REINVESTMENT VEHICLE
(Cost $2,068,471,753)

  $2,592,799,462

 

 

    
  Securities Lending Reinvestment Vehicle(d) – 0.2%
 

Goldman Sachs Financial Square Government Fund — Institutional
Shares

  6,332,150      0.027%   $       6,332,150
  (Cost $6,332,150)  

 

 

 
TOTAL INVESTMENTS – 101.5%
(Cost $2,074,803,903)
  $2,599,131,612

 

 

 
LIABILITIES IN EXCESS
    OF OTHER ASSETS – (1.5)%
  (37,102,064)

 

 

  NET ASSETS – 100.0%   $2,562,029,548

 

 

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.
*   Security is currently in default and/or non-income producing.
(a)   All or a portion of security is segregated as collateral for call options written.
(b)   All or a portion of security is segregated as collateral for initial margin requirements on futures transactions.
(c)   All or a portion of security is on loan.
(d)   Represents an Affiliated Issuer.

 

 

Investment Abbreviation:
REIT  

— Real Estate Investment Trust

Currency Abbreviation:
USD  

— United States Dollar

 

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 U.S. EQUITY DIVIDEND AND PREMIUM FUND

 

Schedule of Investments (continued)

September 30, 2020 (Unaudited)

 

 

ADDITIONAL INVESTMENT INFORMATION

 

 

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

 

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

 

 

Long position contracts:

    

S&P 500 E-Mini Index

     238      12/18/2020      $39,888,800      $ 338,710  

 

 

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

 

Description   Counterparty   Exercise
Price
    Expiration
Date
    Number of  
Contracts
  Notional
Amount
    Value    

Premiums
Paid
(Received)

by the

Fund

    Unrealized
Appreciation/
Depreciation
 

 

 

Written options contracts:

 

     

Calls

 

     

S&P 500 Index

  Morgan Stanley Co., Inc     3,290 USD     10/30/2020   727   $ (244,490,100   $ (9,003,895   $ (9,413,196   $ 409,301  
      3,560 USD     11/30/2020   711     (239,109,300     (3,103,515     (8,742,456     5,638,941  
      3,430 USD     12/31/2020   648     (217,922,400     (8,187,480     (8,410,236     222,756  

 

 

Total written options contracts

  2,086     $ (20,294,890   $ (26,565,888   $ 6,270,998  

 

 


GOLDMAN SACHS INTERNATIONAL EQUITY DIVIDEND AND PREMIUM FUND

 

Schedule of Investments

September 30, 2020 (Unaudited)

 

Shares      Description   Value
  Common Stocks – 99.4%
 

Australia – 9.0%

  1,244      Afterpay Ltd. (Software & Services)*   $         73,327
  80,836      AGL Energy Ltd. (Utilities)   789,309
  51,152      APA Group (Utilities)   380,248
  433,276      Aurizon Holdings Ltd. (Transportation)   1,332,918
  75,241      BHP Group Ltd. (Materials)   1,943,746
  5,805      BHP Group plc (Materials)   123,845
  51,205      Coca-Cola Amatil Ltd. (Food, Beverage & Tobacco)   350,493
  23,965      Coles Group Ltd. (Food & Staples Retailing)   291,960
  64,545      Commonwealth Bank of Australia (Banks)   2,970,122
  1,390      CSL Ltd. (Pharmaceuticals, Biotechnology & Life Sciences)   287,128
  19,189      Fortescue Metals Group Ltd. (Materials)   225,433
  63,415      Glencore plc (Materials)*(a)   131,470
  88,722      Medibank Pvt Ltd. (Insurance)   160,090
  175,269      National Australia Bank Ltd. (Banks)   2,251,671
  20,689      Rio Tinto Ltd. (Materials)   1,413,088
  11,619      Rio Tinto plc (Materials)   699,144
  45,276      Rio Tinto plc ADR (Materials)(a)(b)   2,734,218
  13,841      Sonic Healthcare Ltd. (Health Care Equipment & Services)   328,685
  30,155      Wesfarmers Ltd. (Retailing)   963,883
    

 

     17,450,778

 

 

 

Austria – 0.1%

  3,643      Erste Group Bank AG (Banks)   76,286
  2,796      voestalpine AG (Materials)(a)   73,691
    

 

     149,977

 

 

 

Belgium – 1.9%

  35,194      Ageas SA/NV (Insurance)   1,440,107
  13,237      Anheuser-Busch InBev SA/NV (Food, Beverage & Tobacco)   712,686
  85,798      Proximus SADP (Telecommunication Services)   1,565,215
    

 

     3,718,008

 

 

 

China – 0.2%

  4,910      Prosus NV (Retailing)*   453,206

 

 

 

Denmark – 1.7%

  6,157      Coloplast A/S Class B (Health Care Equipment & Services)   975,817
  27,651      Novo Nordisk A/S Class B (Pharmaceuticals, Biotechnology & Life Sciences)   1,915,732
  12,480      Tryg A/S (Insurance)   392,902
    

 

     3,284,451

 

 

 

Finland – 2.8%

  7,102      Kone OYJ Class B (Capital Goods)   623,580
  67,566      Metso Outotec OYJ (Capital Goods)   470,841
  50,367      Neles OYJ (Capital Goods)   681,138
  7,263      Neste OYJ (Energy)   382,468

 

 

Shares      Description   Value
  Common Stocks – (continued)
 

Finland – (continued)

  298,364      Nordea Bank Abp (Banks)   $     2,267,189
  26,281      Sampo OYJ Class A (Insurance)(a)   1,040,731
    

 

     5,465,947

 

 

 

France – 10.4%

  7,477      Air Liquide SA (Materials)   1,185,177
  8,681      Airbus SE (Capital Goods)*   629,595
  12,945      BNP Paribas SA (Banks)*   468,280
  12,106      Bouygues SA (Capital Goods)   418,339
  5,936      Capgemini SE (Software & Services)(a)   761,562
  2,181      Covivio (REIT)   153,147
  21,499      Danone SA (Food, Beverage & Tobacco)   1,392,599
  1,122      Dassault Systemes SE (Software & Services)   209,345
  16,716      Edenred (Software & Services)   750,485
  764      Gecina SA (REIT)   100,715
  61      Hermes International (Consumer Durables & Apparel)   52,536
  1,959      Kering SA (Consumer Durables &
Apparel)(a)
  1,299,488
  2,385      L’Oreal SA (Household & Personal Products)(a)   776,149
  5,717      LVMH Moet Hennessy Louis Vuitton SE (Consumer Durables & Apparel)(a)   2,674,989
  2,445      Pernod Ricard SA (Food, Beverage & Tobacco)   389,821
  26,637      Peugeot SA (Automobiles & Components)*   483,048
  4,227      Publicis Groupe SA (Media & Entertainment)   136,236
  3,760      Safran SA (Capital Goods)*   369,936
  32,860      Sanofi (Pharmaceuticals, Biotechnology & Life Sciences)(a)   3,292,961
  13,566      Schneider Electric SE (Capital Goods)(a)   1,686,239
  42,051      TOTAL SE (Energy)(a)   1,444,139
  1,535      Unibail-Rodamco-Westfield (REIT)   56,611
  2,233      Valeo SA (Automobiles & Components)   68,571
  2,034      Vinci SA (Capital Goods)   169,954
  34,174      Vivendi SA (Media & Entertainment)   954,441
  2,168      Worldline SA (Software & Services)*(c)   177,523
    

 

     20,101,886

 

 

 

Germany – 10.1%

  1,494      adidas AG (Consumer Durables & Apparel)*   482,476
  4,223      Allianz SE (Registered) (Insurance)   810,520
  4,220      BASF SE (Materials)(a)   256,981
  24,038      Bayer AG (Registered) (Pharmaceuticals, Biotechnology & Life Sciences)(a)   1,482,994
  13,633      Bayerische Motoren Werke AG (Automobiles & Components)(a)   989,444

 

 

 


GOLDMAN SACHS INTERNATIONAL EQUITY DIVIDEND AND PREMIUM FUND

 

Schedule of Investments (continued)

September 30, 2020 (Unaudited)

 

Shares      Description   Value
  Common Stocks – (continued)
 

Germany – (continued)

  18,035      Bayerische Motoren Werke AG (Preference) (Automobiles & Components)(d)   $       985,656
  1,439      Carl Zeiss Meditec AG (Health Care Equipment & Services)   181,747
  10,619      Covestro AG (Materials)(c)   526,597
  2,137      Delivery Hero SE (Retailing)*(c)   245,198
  2,230      Deutsche Boerse AG (Diversified Financials)   390,964
  43,730      Deutsche Post AG (Registered) (Transportation)(a)   1,984,274
  51,998      E.ON SE (Utilities)   573,144
  4,258      Evonik Industries AG (Materials)(a)   110,150
  3,801      Fresenius SE & Co. KGaA (Health Care Equipment & Services)   172,848
  808      GEA Group AG (Capital Goods)   28,311
  17,208      HOCHTIEF AG (Capital Goods)   1,335,849
  8,731      Infineon Technologies AG (Semiconductors & Semiconductor Equipment)   246,090
  3,095      LEG Immobilien AG (Real Estate)   441,158
  6,608      METRO AG (Food & Staples Retailing)   65,808
  2,239      Porsche Automobil Holding SE (Preference) (Automobiles & Components)*,(d)   133,592
  2,764      Puma SE (Consumer Durables & Apparel)*   248,470
  19,261      SAP SE (Software & Services)(a)   2,999,288
  689      Sartorius AG (Preference) (Health Care Equipment & Services)(d)   282,404
  15,036      Siemens AG (Registered) (Capital Goods)   1,898,883
  7,518      Siemens Energy AG (Utilities)*   202,733
  3,648      Siemens Healthineers AG (Health Care Equipment & Services)(c)   163,753
  223,703      Telefonica Deutschland Holding AG (Telecommunication Services)   571,729
  2,710      Volkswagen AG (Preference) (Automobiles & Components)(d)   436,069
  20,371      Vonovia SE (Real Estate)(a)   1,396,493
    

 

     19,643,623

 

 

 

Hong Kong – 2.7%

  117,600      AIA Group Ltd. (Insurance)   1,168,956
  16,700      ASM Pacific Technology Ltd. (Semiconductors & Semiconductor Equipment)   170,960
  98,000      Hang Lung Properties Ltd. (Real Estate)   249,759
  19,094      Hong Kong & China Gas Co. Ltd. (Utilities)   27,725
  22,396      Hong Kong Exchanges & Clearing Ltd. (Diversified Financials)   1,054,258

 

 

Shares      Description   Value
  Common Stocks – (continued)
 

Hong Kong – (continued)

  3,400      Jardine Matheson Holdings Ltd. (Capital Goods)   $       135,155
  2,200      Jardine Strategic Holdings Ltd. (Capital Goods)   43,619
  212,657      Link REIT (REIT)   1,742,594
  43,533      MTR Corp. Ltd. (Transportation)   216,050
  22,902      Sino Land Co. Ltd. (Real Estate)   26,812
  500      Sun Hung Kai Properties Ltd. (Real Estate)   6,443
  400      Swire Properties Ltd. (Real Estate)   1,060
  24,000      Techtronic Industries Co. Ltd. (Capital Goods)   319,097
    

 

     5,162,488

 

 

 

Ireland – 0.5%

  24,567      CRH plc (Materials)(a)   890,832

 

 

 

Israel – 0.4%

  107,511      Bank Leumi Le-Israel BM (Banks)   473,303
  13,689      ICL Group Ltd. (Materials)   48,371
  715      Wix.com Ltd. (Software & Services)*   182,218
    

 

     703,892

 

 

 

Italy – 1.1%

  9,895      Enel SpA (Utilities)   85,848
  4,925      Eni SpA (Energy)(a)   38,494
  2,335      Ferrari NV (Automobiles & Components)   428,517
  121,717      Mediobanca Banca di Credito Finanziario SpA (Banks)   953,765
  2,098      Moncler SpA (Consumer Durables & Apparel)*   85,853
  110,623      Snam SpA (Utilities)   568,909
    

 

     2,161,386

 

 

 

Japan – 25.6%

  2,400      ABC-Mart, Inc. (Retailing)   124,959
  2,400      Advantest Corp. (Semiconductors & Semiconductor Equipment)   116,737
  11,300      AGC, Inc. (Capital Goods)   332,101
  10,500      Alfresa Holdings Corp. (Health Care Equipment & Services)   229,979
  37,200      Aozora Bank Ltd. (Banks)   617,687
  27,000      Asahi Kasei Corp. (Materials)   235,538
  7,100      Astellas Pharma, Inc. (Pharmaceuticals, Biotechnology & Life Sciences)   105,837
  2,300      Bandai Namco Holdings, Inc. (Consumer Durables & Apparel)   168,521
  53,100      Bridgestone Corp. (Automobiles & Components)   1,678,446
  34,600      Canon, Inc. (Technology Hardware & Equipment)   573,895
  7,900      Casio Computer Co. Ltd. (Consumer Durables & Apparel)   127,919

 

 

 


GOLDMAN SACHS INTERNATIONAL EQUITY DIVIDEND AND PREMIUM FUND

 

Schedule of Investments (continued)

September 30, 2020 (Unaudited)

 

Shares      Description   Value
  Common Stocks – (continued)
 

Japan – (continued)

  14,800      Chugai Pharmaceutical Co. Ltd. (Pharmaceuticals, Biotechnology & Life Sciences)   $       664,157
  31,100      Chugoku Electric Power Co., Inc. (The) (Utilities)   388,838
  1,500      Dai-ichi Life Holdings, Inc. (Insurance)   21,166
  29,400      Daiichi Sankyo Co. Ltd. (Pharmaceuticals, Biotechnology & Life Sciences)   902,514
  2,000      Daikin Industries Ltd. (Capital Goods)   369,549
  8,200      Daito Trust Construction Co. Ltd. (Real Estate)   726,888
  9,200      Daiwa House Industry Co. Ltd. (Real Estate)   235,955
  132,700      Daiwa Securities Group, Inc. (Diversified Financials)   558,125
  2,900      Denso Corp. (Automobiles & Components)   127,112
  1,500      Disco Corp. (Semiconductors & Semiconductor Equipment)   366,757
  9,700      Eisai Co. Ltd. (Pharmaceuticals, Biotechnology & Life Sciences)   885,924
  3,400      FANUC Corp. (Capital Goods)   652,513
  200      Fast Retailing Co. Ltd. (Retailing)   125,684
  2,600      Fuji Electric Co. Ltd. (Capital Goods)   82,422
  1,300      Hikari Tsushin, Inc. (Retailing)   310,166
  30,400      Hino Motors Ltd. (Capital Goods)   197,257
  1,916      Hirose Electric Co. Ltd. (Technology Hardware & Equipment)   247,558
  1,400      Hitachi Ltd. (Technology Hardware & Equipment)   47,403
  6,700      Hitachi Metals Ltd. (Materials)   103,315
  1,200      Honda Motor Co. Ltd. (Automobiles & Components)   28,497
  3,500      Hoya Corp. (Health Care Equipment & Services)   395,207
  3,700      Hulic Co. Ltd. (Real Estate)   34,718
  3,200      Idemitsu Kosan Co. Ltd. (Energy)   68,323
  3,100      Isuzu Motors Ltd. (Automobiles & Components)   27,112
  55,800      ITOCHU Corp. (Capital Goods)   1,428,806
  14,200      Japan Exchange Group, Inc. (Diversified Financials)   398,002
  16,700      Japan Post Insurance Co. Ltd. (Insurance)   262,946
  29,000      Japan Tobacco, Inc. (Food, Beverage & Tobacco)   529,070
  6,400      JSR Corp. (Materials)   152,116
  8,500      JTEKT Corp. (Automobiles & Components)   66,672
  12,400      Kajima Corp. (Capital Goods)   149,398
  9,300      Kakaku.com, Inc. (Media & Entertainment)   245,184

 

 

Shares      Description   Value
  Common Stocks – (continued)
 

Japan – (continued)

  33,100      Kansai Electric Power Co., Inc. (The) (Utilities)   $       320,802
  7,100      Kao Corp. (Household & Personal Products)   533,002
  22,000      KDDI Corp. (Telecommunication Services)   553,334
  300      Keyence Corp. (Technology Hardware & Equipment)   140,244
  6,400      Kikkoman Corp. (Food, Beverage & Tobacco)   355,032
  5,200      Kintetsu Group Holdings Co. Ltd. (Transportation)   221,917
  38,100      Kirin Holdings Co. Ltd. (Food, Beverage & Tobacco)   715,617
  24,000      Komatsu Ltd. (Capital Goods)   527,113
  3,100      Kose Corp. (Household & Personal Products)   379,557
  7,300      Kyushu Railway Co. (Transportation)   156,078
  7,700      Lawson, Inc. (Food & Staples Retailing)   367,156
  27,300      LIXIL Group Corp. (Capital Goods)   551,796
  7,700      M3, Inc. (Health Care Equipment & Services)   476,293
  2,100      Makita Corp. (Capital Goods)   100,505
  5,200      Marui Group Co. Ltd. (Retailing)   99,784
  49,900      Mitsubishi Chemical Holdings Corp. (Materials)   288,042
  33,700      Mitsubishi Corp. (Capital Goods)   806,622
  23,400      Mitsubishi Electric Corp. (Capital Goods)   317,519
  100      Mitsubishi Materials Corp. (Materials)   1,971
  153,900      Mitsubishi UFJ Financial Group, Inc. (Banks)   614,196
  13,800      Mitsubishi UFJ Lease & Finance Co. Ltd. (Diversified Financials)   64,120
  4,800      Mitsui & Co. Ltd. (Capital Goods)   82,478
  27,730      Mizuho Financial Group, Inc. (Banks)   346,117
  20,200      MS&AD Insurance Group Holdings, Inc. (Insurance)   544,253
  12,600      Murata Manufacturing Co. Ltd. (Technology Hardware & Equipment)   819,342
  8,200      Nabtesco Corp. (Capital Goods)   297,712
  1,300      NEC Corp. (Software & Services)   76,042
  10,200      NGK Spark Plug Co. Ltd. (Automobiles & Components)   178,095
  400      Nidec Corp. (Capital Goods)   37,511
  5,600      Nikon Corp. (Consumer Durables & Apparel)   37,787
  1,800      Nintendo Co. Ltd. (Media & Entertainment)   1,020,044
  6,600      Nippon Express Co. Ltd. (Transportation)   385,131
  200      Nippon Paint Holdings Co. Ltd. (Materials)   20,589

 

 

 


GOLDMAN SACHS INTERNATIONAL EQUITY DIVIDEND AND PREMIUM FUND

 

Schedule of Investments (continued)

September 30, 2020 (Unaudited)

 

Shares      Description   Value
  Common Stocks – (continued)
 

Japan – (continued)

  67      Nippon Prologis REIT, Inc. (REIT)   $       225,942
  11,601      Nisshin Seifun Group, Inc. (Food, Beverage & Tobacco)   184,114
  7,100      Nitto Denko Corp. (Materials)   462,556
  22,900      Nomura Holdings, Inc. (Diversified Financials)   104,651
  3,700      Nomura Real Estate Holdings, Inc. (Real Estate)   70,415
  17,700      Nomura Research Institute Ltd. (Software & Services)   521,168
  50,900      NSK Ltd. (Capital Goods)   389,607
  6,400      NTT DOCOMO, Inc. (Telecommunication Services)   235,175
  2,600      Obic Co. Ltd. (Software & Services)   457,243
  300      Odakyu Electric Railway Co. Ltd. (Transportation)   7,541
  7,400      Olympus Corp. (Health Care Equipment & Services)   153,889
  2,300      Omron Corp. (Technology Hardware & Equipment)   179,828
  3,000      Ono Pharmaceutical Co. Ltd. (Pharmaceuticals, Biotechnology & Life Sciences)   94,362
  5,400      Otsuka Corp. (Software & Services)   275,947
  2,400      Otsuka Holdings Co. Ltd. (Pharmaceuticals, Biotechnology & Life Sciences)   101,677
  55,400      Panasonic Corp. (Consumer Durables & Apparel)   471,901
  16,100      Park24 Co. Ltd. (Commercial & Professional Services)   261,394
  22,900      Pola Orbis Holdings, Inc. (Household & Personal Products)   431,787
  22,300      Recruit Holdings Co. Ltd. (Commercial & Professional Services)   885,653
  49,100      Resona Holdings, Inc. (Banks)   167,275
  1,000      Ryohin Keikaku Co. Ltd. (Retailing)   16,616
  17,100      Seiko Epson Corp. (Technology Hardware & Equipment)   196,654
  67,800      Seven Bank Ltd. (Banks)   164,317
  6,900      Shimadzu Corp. (Technology Hardware & Equipment)   210,011
  4,400      Shin-Etsu Chemical Co. Ltd. (Materials)   575,759
  4,300      Shiseido Co. Ltd. (Household & Personal Products)   248,927
  166,500      SoftBank Corp. (Telecommunication Services)   1,860,528
  17,500      SoftBank Group Corp. (Telecommunication Services)   1,082,805
  3,800      Sompo Holdings, Inc. (Insurance)   131,188
  7,500      Sony Corp. (Consumer Durables & Apparel)   574,815
  39,100      Subaru Corp. (Automobiles & Components)   759,043

 

 

Shares      Description   Value
  Common Stocks – (continued)
 

Japan – (continued)

  22,900      Sumitomo Chemical Co. Ltd. (Materials)   $         75,799
  87,000      Sumitomo Corp. (Capital Goods)   1,048,741
  4,200      Sumitomo Metal Mining Co. Ltd. (Materials)   130,260
  46,600      Sumitomo Mitsui Financial Group, Inc. (Banks)   1,302,974
  300      Sumitomo Mitsui Trust Holdings, Inc. (Banks)   7,981
  4,200      Sysmex Corp. (Health Care Equipment & Services)   401,864
  38,200      Takeda Pharmaceutical Co. Ltd. (Pharmaceuticals, Biotechnology & Life Sciences)   1,365,380
  1,000      TDK Corp. (Technology Hardware & Equipment)   109,193
  42,600      Tohoku Electric Power Co., Inc. (Utilities)   426,941
  10,900      Tokio Marine Holdings, Inc. (Insurance)   476,925
  4,800      Tokyo Electron Ltd. (Semiconductors & Semiconductor Equipment)   1,254,023
  300      Tokyo Gas Co. Ltd. (Utilities)   6,846
  41,800      Tokyu Fudosan Holdings Corp. (Real Estate)   180,564
  4,600      TOTO Ltd. (Capital Goods)   211,965
  3,800      Toyoda Gosei Co. Ltd. (Automobiles & Components)   87,252
  43,820      Toyota Motor Corp. (Automobiles & Components)   2,908,334
  2,800      Trend Micro, Inc. (Software & Services)   170,628
  57,500      USS Co. Ltd. (Retailing)   1,028,870
  3,000      Yamaha Corp. (Consumer Durables & Apparel)   143,882
  200      Yamato Holdings Co. Ltd. (Transportation)   5,268
  1,900      Yaskawa Electric Corp. (Capital Goods)   74,334
  3,900      ZOZO, Inc. (Retailing)   108,828
    

 

     49,576,414

 

 

 

Luxembourg – 0.0%

  6,342      SES SA FDR (Media & Entertainment)   44,897

 

 

 

Macau – 0.5%

  53,000      Galaxy Entertainment Group Ltd. (Consumer Services)   358,317
  94,000      Sands China Ltd. (Consumer Services)   364,364
  108,800      Wynn Macau Ltd. (Consumer Services)*   174,603
    

 

     897,284

 

 

 

Netherlands – 2.4%

  6,457      ASML Holding NV (Semiconductors & Semiconductor Equipment)(a)   2,384,774
  2,547      Just Eat Takeaway.com NV (Retailing)*(c)   285,128

 

 

 


GOLDMAN SACHS INTERNATIONAL EQUITY DIVIDEND AND PREMIUM FUND

 

Schedule of Investments (continued)

September 30, 2020 (Unaudited)

 

Shares      Description   Value
  Common Stocks – (continued)
 

Netherlands – (continued)

  1,708      Koninklijke Ahold Delhaize NV (Food & Staples Retailing)   $         50,485
  1,888      Koninklijke DSM NV (Materials)   310,824
  46,739      Koninklijke KPN NV (Telecommunication Services)   109,665
  41,980      Royal Dutch Shell plc Class A (Energy)(a)   524,773
  86,152      Royal Dutch Shell plc Class B (Energy)   1,044,770
    

 

     4,710,419

 

 

 

New Zealand – 0.6%

  15,114      Fisher & Paykel Healthcare Corp. Ltd. (Health Care Equipment & Services)   333,574
  256,995      Spark New Zealand Ltd. (Telecommunication Services)   801,902
    

 

     1,135,476

 

 

 

Norway – 0.5%

  14,865      DNB ASA (Banks)   207,079
  58      Gjensidige Forsikring ASA (Insurance)   1,177
  9,167      Orkla ASA (Food, Beverage & Tobacco)   92,518
  17,663      Telenor ASA (Telecommunication Services)   296,540
  10,206      Yara International ASA (Materials)   392,724
    

 

     990,038

 

 

 

Portugal – 0.3%

  80,161      EDP - Energias de Portugal SA (Utilities)   394,146
  14,664      Galp Energia SGPS SA (Energy)   136,016
  1,352      Jeronimo Martins SGPS SA (Food & Staples Retailing)   21,741
    

 

     551,903

 

 

 

Russia – 0.2%

  104,182      Evraz plc (Materials)   463,911

 

 

 

Singapore – 1.0%

  2,800      City Developments Ltd. (Real Estate)   15,763
  58,300      DBS Group Holdings Ltd. (Banks)   857,089
  45,600      Keppel Corp. Ltd. (Capital Goods)   149,371
  27,900      Singapore Exchange Ltd. (Diversified Financials)   188,176
  211,200      Singapore Technologies Engineering Ltd. (Capital Goods)   538,205
  121,600      Singapore Telecommunications Ltd. (Telecommunication Services)   190,313
    

 

     1,938,917

 

 

 

South Africa – 0.0%

  2      Anglo American plc (Materials)   48

 

 

Shares      Description   Value
  Common Stocks – (continued)
 

Spain – 3.1%

  5,596      ACS Actividades de Construccion y Servicios SA (Capital Goods)   $         126,496
  169      Amadeus IT Group SA (Software & Services)   9,385
  26,583      Enagas SA (Utilities)   613,353
  101,367      Endesa SA (Utilities)(a)   2,711,365
  30,922      Ferrovial SA (Capital Goods)   751,108
  364,241      Mapfre SA (Insurance)   571,444
  8,298      Naturgy Energy Group SA (Utilities)   166,414
  45,811      Red Electrica Corp. SA (Utilities)   859,202
  57,354      Telefonica SA (Telecommunication Services)   196,470
    

 

     6,005,237

 

 

 

Sweden – 1.1%

  4,320      Atlas Copco AB Class A (Capital Goods)   205,972
  11,277      Atlas Copco AB Class B (Capital Goods)   470,634
  2,920      Boliden AB (Materials)   86,638
  8,614      Electrolux ABSeries B (Consumer Durables & Apparel)   200,800
  3,158      EQT AB (Diversified Financials)   61,280
  6,276      Hennes & Mauritz AB Class B (Retailing)   108,123
  2,714      Lundin Energy AB (Energy)   53,821
  247,525      Telia Co. AB (Telecommunication Services)   1,012,682
    

 

     2,199,950

 

 

 

Switzerland – 12.0%

  17,232      ABB Ltd. (Registered) (Capital Goods)   438,104
  17,824      Adecco Group AG (Registered) (Commercial & Professional Services)   940,490
  1,868      Banque Cantonale Vaudoise (Registered) (Banks)   189,567
  46,489      Clariant AG (Registered) (Materials)   917,094
  40,278      Coca-Cola HBC AG (Food, Beverage & Tobacco)   994,578
  358      EMS-Chemie Holding AG (Registered) (Materials)   321,651
  313      Geberit AG (Registered) (Capital Goods)   185,178
  17,849     

LafargeHolcim Ltd. (Registered)

(Materials)*

  812,479
  47,198      Nestle SA (Registered) (Food, Beverage & Tobacco)   5,617,130
  38,853      Novartis AG (Registered) (Pharmaceuticals, Biotechnology & Life Sciences)   3,373,385
  1,163      Partners Group Holding AG (Diversified Financials)   1,069,732
  9,484      Roche Holding AG (Pharmaceuticals, Biotechnology & Life Sciences)   3,248,655

 

 

 


GOLDMAN SACHS INTERNATIONAL EQUITY DIVIDEND AND PREMIUM FUND

 

Schedule of Investments (continued)

September 30, 2020 (Unaudited)

 

Shares      Description   Value
  Common Stocks – (continued)
 

Switzerland – (continued)

  349      SGS SA (Registered) (Commercial & Professional Services)   $       935,264
  31,901      STMicroelectronics NV (Semiconductors & Semiconductor Equipment)   978,404
  103      Straumann Holding AG (Registered) (Health Care Equipment & Services)   104,195
  42,706      UBS Group AG (Registered) (Diversified Financials)   477,150
  7,814      Zurich Insurance Group AG (Insurance)   2,724,861
    

 

     23,327,917

 

 

 

United Kingdom – 11.2%

  31,958      AstraZeneca plc ADR (Pharmaceuticals, Biotechnology & Life Sciences)(a)(b)   1,751,298
  255,576      Aviva plc (Insurance)   945,564
  246,432      BAE Systems plc (Capital Goods)   1,530,469
  179,257      Barclays plc (Banks)   226,143
  49,299      BP plc ADR (Energy)(a)   860,761
  39,051      British American Tobacco plc (Food, Beverage & Tobacco)   1,400,811
  2,455      Coca-Cola European Partners plc (Food, Beverage & Tobacco)   95,279
  10,439      Compass Group plc (Consumer Services)   156,812
  13,945      Diageo plc (Food, Beverage & Tobacco)   478,993
  66,686      GlaxoSmithKline plc ADR (Pharmaceuticals, Biotechnology & Life Sciences)(a)   2,510,061
  386,987      HSBC Holdings plc (Banks)(a)   1,513,993
  14,235      Imperial Brands plc (Food, Beverage & Tobacco)   251,440
  133,695      M&G plc (Diversified Financials)   274,801
  40,758      National Grid plc (Utilities)   468,153
  30,474      Persimmon plc (Consumer Durables & Apparel)   971,158
  26,524      Prudential plc (Insurance)   380,575
  1,916      Reckitt Benckiser Group plc (Household & Personal Products)(a)   186,820
  17,073      RELX plc (Commercial & Professional Services)   380,012
  22,052      Segro plc (REIT)   265,011
  42,819      SSE plc (Utilities)   666,442
  9,344      St James’s Place plc (Diversified Financials)   112,412
  57,540      Unilever NV (Household & Personal Products)(a)   3,494,253
  23,892      Unilever plc ADR (Household & Personal Products)(a)(b)   1,473,659
  91,846      Vodafone Group plc ADR (Telecommunication Services)(a)   1,232,573
  7,360      Wm Morrison Supermarkets plc (Food & Staples Retailing)   16,155

 

 

Shares      Description   Value
  Common Stocks – (continued)
 

United Kingdom – (continued)

  2,770      WPP plc (Media & Entertainment)   $          21,756
    

 

     21,665,404

 

 

 
TOTAL INVESTMENTS – 99.4%
(Cost $180,889,517)
  $ 192,694,289

 

 

 

OTHER ASSETS IN EXCESS OF
LIABILITIES – 0.6%

  1,239,474

 

 

 

NET ASSETS – 100.0%

  $ 193,933,763

 

 

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.
*   Security is currently in default and/or non-income producing.
(a)   All or a portion of security is segregated as collateral for call options written.
(b)   All or a portion of security is segregated as collateral for initial margin requirements on futures transactions.
(c)   Exempt from registration under Rule 144A of the Securities Act of 1933.
(d)   Preference Shares are a special type of equity investment that shares in the earnings of the company, has limited voting rights, and receives a greater dividend than applicable Common Shares.
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.

 

 

Investment Abbreviations:
ADR  

— American Depositary Receipt

FDR  

— Fiduciary Depositary Receipt

REIT  

— Real Estate Investment Trust

Currency Abbreviations:
EUR  

— Euro

GBP  

— British Pound

JPY  

— Japanese Yen

 

 


GOLDMAN SACHS INTERNATIONAL EQUITY DIVIDEND AND PREMIUM FUND

 

Schedule of Investments (continued)

September 30, 2020 (Unaudited)

 

 

ADDITIONAL INVESTMENT INFORMATION

 

 

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

 

Description      Number of
Contracts
    

Expiration

Date

     Notional
Amount
       Unrealized
Appreciation/
(Depreciation)
 

 

 

Long position contracts:

 

    

EURO STOXX 50 Index

     18      12/18/2020      $ 674,065        $ (25,467

FTSE 100 Index

     3      12/18/2020        226,127          (6,815

MSCI Singapore Index

     1      10/29/2020        20,710          (83

SPI 200 Index

     1      12/17/2020        103,892          (1,569

TOPIX Index

     2      12/10/2020        308,254          4,798  

 

 

Total Futures Contracts

 

     $ (29,136

 

 

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

 

Description   Counterparty   Exercise
Price
    Expiration
Date
 

  Number of  

Contracts

  Notional
Amount
    Value     Premiums
Paid
(Received)
by the
Fund
    Unrealized
Appreciation/
Depreciation
 

 

 

Written options contracts:

 

     

Calls

 

     

EURO STOXX 50 Index

  Morgan Stanley Co., Inc.     3,375 EUR     12/18/2020   865   $ (27,624,727   $ (597,346   $ (1,093,780   $ 496,434  

FTSE 100 Index

      6,125 GBP     12/18/2020   117     (6,863,337     (178,146     (293,636     115,490  

Nikkei 225 Index

      23,500 JPY     12/11/2020   74     (1,715,698,880     (505,191     (554,601     49,410  

 

 

Total written options contracts

  1,056     $ (1,280,683   $ (1,942,017   $ 661,334  

 

 


GOLDMAN SACHS U.S. TAX-MANAGED EQUITY FUND

 

Schedule of Investments

September 30, 2020 (Unaudited)

 

Shares      Description   Value
  Common Stocks – 100.0%
 

Automobiles & Components – 1.1%

  164,726      General Motors Co.   $       4,874,242
  21,887      Gentex Corp.   563,590
  28,888      Tesla, Inc.*   12,393,241
    

 

     17,831,073

 

 

 

Banks – 2.6%

  87,484      Associated Banc-Corp.   1,104,048
  42,551      Bancorp, Inc. (The)*   367,641
  258,560      Bank of America Corp.   6,228,710
  144,004      Cadence Bancorp   1,236,994
  186,333      Citigroup, Inc.   8,032,816
  40,193      East West Bancorp, Inc.   1,315,919
  23,131      Essent Group Ltd.   856,078
  40,192      First Bancorp/PR   209,802
  32,891      Independent Bank Group, Inc.   1,453,124
  32,081      International Bancshares Corp.   836,031
  49,088      JPMorgan Chase & Co.   4,725,702
  80,240      MGIC Investment Corp.   710,927
  10,646      National Bank Holdings Corp. Class A   279,458
  5,253      PennyMac Financial Services, Inc.   305,304
  5,054      PNC Financial Services Group, Inc. (The)   555,485
  11,205      Popular, Inc.   406,405
  28,824      Radian Group, Inc.   421,119
  30,371      Signature Bank   2,520,489
  17,309      SVB Financial Group*   4,164,892
  13,919      TriState Capital Holdings, Inc.*   184,288
  29,639      Truist Financial Corp.   1,127,764
  63,332      US Bancorp   2,270,452
  27,264      Walker & Dunlop, Inc.   1,444,992
  78,455      Western Alliance Bancorp   2,480,747
    

 

     43,239,187

 

 

 

Capital Goods – 4.5%

  5,761      AGCO Corp.   427,869
  14,624      Allison Transmission Holdings, Inc.   513,887
  29,624      AMETEK, Inc.   2,944,626
  32,308      Emerson Electric Co.   2,118,435
  13,565      Fortive Corp.   1,033,789
  10,402      H&E Equipment Services, Inc.   204,503
  41,574      HD Supply Holdings, Inc.*   1,714,512
  65,250      Hexcel Corp.   2,189,137
  6,443      Honeywell International, Inc.   1,060,582
  97,597      Illinois Tool Works, Inc.   18,856,716
  96,928      Johnson Controls International plc   3,959,509
  26,377      L3Harris Technologies, Inc.   4,479,870
  12,408      Lockheed Martin Corp.   4,755,738
  235,811      Masco Corp.   13,000,260
  25,746      Navistar International Corp.*   1,120,981
  149,820      Raytheon Technologies Corp.   8,620,643
  1,370      RBC Bearings, Inc.*   166,058
  31,103      Rush Enterprises, Inc. Class A   1,571,946
  4,685      Simpson Manufacturing Co., Inc.   455,195
  30,166      Snap-on, Inc.   4,438,324
  2,989      Teledyne Technologies, Inc.*   927,218
    

 

     74,559,798

 

 

Shares      Description   Value
  Common Stocks – (continued)
 

Commercial & Professional Services – 1.2%

  11,341      Cimpress plc*(a)   $          852,390
  29,156      Cintas Corp.   9,703,991
  4,648      Clean Harbors, Inc.*   260,427
  40,870      CoreLogic, Inc.   2,765,673
  7,128      CoStar Group, Inc.*   6,048,179
  10,024      IAA, Inc.*   521,950
  13,972      KAR Auction Services, Inc.   201,197
    

 

     20,353,807

 

 

 

Consumer Durables & Apparel – 0.8%

  27,507      DR Horton, Inc.   2,080,354
  32,262      G-III Apparel Group Ltd.*   422,955
  38,036      Hanesbrands, Inc.   599,067
  130      NVR, Inc.*   530,806
  105,243      PulteGroup, Inc.   4,871,699
  5,701      Skechers USA, Inc. Class A*   172,284
  12,109      Whirlpool Corp.   2,226,724
  39,938      YETI Holdings, Inc.*   1,809,990
    

 

     12,713,879

 

 

 

Consumer Services – 4.1%

  18,628      Chipotle Mexican Grill, Inc.*   23,167,830
  5,090      Collectors Universe, Inc.   251,904
  36,282      Domino’s Pizza, Inc.   15,430,009
  33,403      frontdoor, Inc.*   1,299,711
  2,845      Graham Holdings Co. Class B   1,149,693
  161,586      International Game Technology plc   1,798,452
  62,232      Red Rock Resorts, Inc. Class A   1,064,167
  120,822      ServiceMaster Global Holdings, Inc.*   4,818,381
  102,575      Wingstop, Inc.   14,016,874
  49,027      Yum China Holdings, Inc.   2,595,980
  25,926      Yum! Brands, Inc.   2,367,044
    

 

     67,960,045

 

 

 

Diversified Financials – 5.3%

  90,429      Ally Financial, Inc.   2,267,055
  38,603      Berkshire Hathaway, Inc. Class B*   8,220,123
  25,114      CME Group, Inc.   4,201,823
  96,351      Discover Financial Services   5,567,161
  107,778      E*TRADE Financial Corp.   5,394,289
  19,961      Interactive Brokers Group, Inc. Class A   964,715
  35,277      Jefferies Financial Group, Inc.   634,986
  98,828      Ladder Capital Corp. (REIT)   703,655
  622      LendingTree, Inc.*   190,886
  1,859      LPL Financial Holdings, Inc.   142,529
  4,946      MarketAxess Holdings, Inc.   2,381,944
  70,299      Navient Corp.   594,027
  29,824      PennyMac Mortgage Investment Trust (REIT)   479,272
  62,760      S&P Global, Inc.   22,631,256
  267,593      Starwood Property Trust, Inc. (REIT)   4,037,978
  490,040      Synchrony Financial   12,824,347
  56,882      TPG RE Finance Trust, Inc. (REIT)   481,222
  333,356      Voya Financial, Inc.   15,977,753
    

 

     87,695,021

 

 

 


GOLDMAN SACHS U.S. TAX-MANAGED EQUITY FUND

 

Schedule of Investments (continued)

September 30, 2020 (Unaudited)

 

Shares      Description   Value
  Common Stocks – (continued)
 

Energy – 1.1%

  8,224      Cactus, Inc. Class A   $          157,819
  38,680      Chevron Corp.   2,784,960
  7,426      Core Laboratories NV   113,321
  52,235      EOG Resources, Inc.   1,877,326
  35,852      HollyFrontier Corp.   706,643
  34,116      Marathon Petroleum Corp.   1,000,963
  61,078      Matador Resources Co.*   504,504
  8,760      ONEOK, Inc.   227,585
  45,653      Pioneer Natural Resources Co.   3,925,701
  25,139      Renewable Energy Group, Inc.*   1,342,925
  103,628      Targa Resources Corp.   1,453,901
  81,900      TechnipFMC plc   516,789
  156,754      Williams Cos., Inc. (The)   3,080,216
    

 

     17,692,653

 

 

 

Food & Staples Retailing – 1.3%

  11,583      Casey’s General Stores, Inc.   2,057,720
  54,212      Costco Wholesale Corp.   19,245,260
  2,725      Walmart, Inc.   381,255
    

 

     21,684,235

 

 

 

Food, Beverage & Tobacco – 2.0%

  67,273      Archer-Daniels-Midland Co.   3,127,522
  7,580      Constellation Brands, Inc. Class A   1,436,486
  51,135      Darling Ingredients, Inc.*   1,842,394
  11,453      Freshpet, Inc.*   1,278,728
  35,242      Lamb Weston Holdings, Inc.   2,335,487
  9,833      Lancaster Colony Corp.   1,758,140
  213,411      Monster Beverage Corp.*   17,115,562
  52,541      Tyson Foods, Inc. Class A   3,125,139
    

 

     32,019,458

 

 

 

Health Care Equipment & Services – 6.8%

  3,020      Abbott Laboratories   328,667
  6,191      ABIOMED, Inc.*   1,715,278
  730      Align Technology, Inc.*   238,973
  53,424      Anthem, Inc.   14,349,152
  1,859      Chemed Corp.   892,971
  21,748      Cigna Corp.   3,684,329
  19,093      Dentsply Sirona, Inc.   834,937
  72,981      Edwards Lifesciences Corp.*   5,825,343
  145,456      HCA Healthcare, Inc.   18,135,454
  13,051      Henry Schein, Inc.*   767,138
  45,700      Hologic, Inc.*   3,037,679
  34,579      Humana, Inc.   14,311,902
  19,999      IDEXX Laboratories, Inc.*   7,861,807
  17,371      McKesson Corp.   2,587,063
  6,269      Molina Healthcare, Inc.*   1,147,478
  4,621      Quidel Corp.*   1,013,755
  1,283      STERIS plc   226,052
  9,035      Teladoc Health, Inc.*(a)   1,980,833
  943      Teleflex, Inc.   321,016
  47,957      UnitedHealth Group, Inc.   14,951,554
  52,873      Universal Health Services, Inc. Class B   5,658,468
  46,257      West Pharmaceutical Services, Inc.   12,716,049
    

 

     112,585,898

 

 

Shares      Description   Value
  Common Stocks – (continued)
 

Household & Personal Products – 1.4%

  15,887      Church & Dwight Co., Inc.   $       1,488,771
  135,610      Herbalife Nutrition Ltd.*   6,326,207
  110,150      Procter & Gamble Co. (The)   15,309,748
    

 

     23,124,726

 

 

 

Insurance – 1.7%

  79,383      American Equity Investment Life Holding Co.   1,745,632
  35,396      American Financial Group, Inc.   2,370,824
  7,842      Arch Capital Group Ltd.*   229,378
  59,191      Brighthouse Financial, Inc.*   1,592,830
  101,122      Fidelity National Financial, Inc.   3,166,130
  59,600      First American Financial Corp.   3,034,236
  22,700      Globe Life, Inc.   1,813,730
  9,425      Goosehead Insurance, Inc. Class A   816,111
  15,650      Marsh & McLennan Cos., Inc.   1,795,055
  33,874      Primerica, Inc.   3,832,504
  17,273      Reinsurance Group of America, Inc.   1,644,217
  75,315      Trupanion, Inc.*   5,942,354
    

 

     27,983,001

 

 

 

Materials – 3.6%

  4,937      Air Products and Chemicals, Inc.   1,470,535
  301,226      Amcor plc   3,328,547
  78,720      Avient Corp.   2,082,931
  319,536      Axalta Coating Systems Ltd.*   7,084,113
  98,594      CF Industries Holdings, Inc.   3,027,822
  53,802      Corteva, Inc.   1,550,036
  2,903      Crown Holdings, Inc.*   223,125
  8,601      Dow, Inc.   404,677
  71,308      Element Solutions, Inc.*   749,447
  85,354      Graphic Packaging Holding Co.   1,202,638
  16,346      Ingevity Corp.*   808,146
  191,930      Louisiana-Pacific Corp.   5,663,854
  65,745      Mosaic Co. (The)   1,201,161
  56,853      Olin Corp.   703,840
  19,665      Royal Gold, Inc.   2,363,143
  38,987      Sherwin-Williams Co. (The)   27,163,802
  6,280      Southern Copper Corp.   284,296
  35,299      Summit Materials, Inc. Class A*   583,846
    

 

     59,895,959

 

 

 

Media & Entertainment – 8.6%

  4,764      Activision Blizzard, Inc.   385,646
  16,330      Alphabet, Inc. Class A*   23,933,248
  15,750      Alphabet, Inc. Class C*   23,146,200
  12,147      Cardlytics, Inc.*   857,214
  94,443      Comcast Corp. Class A   4,368,933
  57,079      Electronic Arts, Inc.*   7,443,672
  4,968      EverQuote, Inc. Class A*   191,964
  106,950      Facebook, Inc. Class A*   28,010,205
  28,637      Liberty Broadband Corp. Class C*   4,091,368
  22,013      Lions Gate Entertainment Corp. Class B*   191,953
  17,336      Netflix, Inc.*   8,668,520
  26,985      Omnicom Group, Inc.   1,335,758
  237,143      Pinterest, Inc. Class A*   9,843,806
  11,855      Roku, Inc.*   2,238,224
  11,879      Spotify Technology SA*   2,881,489
  53,667      Take-Two Interactive Software, Inc.*   8,866,862
  1,618,527      Zynga, Inc. Class A*   14,760,966
    

 

     141,216,028

 

 

 


GOLDMAN SACHS U.S. TAX-MANAGED EQUITY FUND

 

Schedule of Investments (continued)

September 30, 2020 (Unaudited)

 

Shares      Description   Value
  Common Stocks – (continued)
 

Pharmaceuticals, Biotechnology & Life Sciences – 10.7%

  296,208      AbbVie, Inc.   $     25,944,859
  60,659      Alexion Pharmaceuticals, Inc.*   6,941,209
  16,914      Biogen, Inc.*   4,798,164
  7,726      Bluebird Bio, Inc.*   416,818
  102,157      Elanco Animal Health, Inc.*   2,853,245
  259,726      Horizon Therapeutics plc*   20,175,516
  25,392      Illumina, Inc.*   7,848,159
  2,455      Incyte Corp.*   220,312
  23,213      Innoviva, Inc.*   242,576
  7,809      IQVIA Holdings, Inc.*   1,230,933
  42,765      Jazz Pharmaceuticals plc*   6,097,861
  88,523      Johnson & Johnson   13,179,304
  48,751      Merck & Co., Inc.   4,043,895
  8,672      Mettler-Toledo International, Inc.*   8,374,984
  483,891      Mylan NV*   7,176,104
  117,248      PerkinElmer, Inc.   14,715,796
  6,218      Perrigo Co. plc   285,468
  128,361      Pfizer, Inc.   4,710,849
  22,821      Regeneron Pharmaceuticals, Inc.*   12,774,739
  8,738      Sage Therapeutics, Inc.*   534,067
  5,272      Sarepta Therapeutics, Inc.*   740,347
  3,494      Thermo Fisher Scientific, Inc.   1,542,671
  6,486      Twist Bioscience Corp.*   492,741
  72,037      Vertex Pharmaceuticals, Inc.*   19,602,708
  64,054      Zoetis, Inc.   10,592,610
    

 

     175,535,935

 

 

 

Real Estate Investment Trusts – 6.0%

  13,961      American Campus Communities, Inc.   487,518
  5,689      American Tower Corp.   1,375,202
  23,608      Brandywine Realty Trust   244,107
  34,316      Brixmor Property Group, Inc.   401,154
  24,905      Camden Property Trust   2,216,047
  20,365      CoreSite Realty Corp.   2,420,991
  7,029      Corporate Office Properties Trust   166,728
  65,457      CubeSmart   2,114,916
  13,665      CyrusOne, Inc.   956,960
  257,053      Duke Realty Corp.   9,485,256
  78,936      Equity LifeStyle Properties, Inc.   4,838,777
  3,161      Essex Property Trust, Inc.   634,697
  249,899      First Industrial Realty Trust, Inc.   9,945,980
  6,416      Gaming and Leisure Properties, Inc.   236,943
  476,005      Invitation Homes, Inc.   13,323,380

 

 

Shares      Description   Value
  Common Stocks – (continued)
 

Real Estate Investment Trusts – (continued)

  46,607      Lamar Advertising Co. Class A   $    3,083,985
  60,996      Mid-America Apartment Communities, Inc.   7,072,486
  47,187      Outfront Media, Inc.   686,571
  7,273      PotlatchDeltic Corp.   306,193
  3,931      PS Business Parks, Inc.   481,115
  20,916      QTS Realty Trust, Inc. Class A   1,318,126
  36,344      Retail Opportunity Investments Corp.   378,523
  93,086      Rexford Industrial Realty, Inc.   4,259,615
  96,618      Sabra Health Care REIT, Inc.   1,331,879
  50,073      SBA Communications Corp.   15,947,249
  152,293      SITE Centers Corp.   1,096,510
  43,352      STORE Capital Corp.   1,189,145
  39,338      Sun Communities, Inc.   5,531,316
  14,722      Terreno Realty Corp.   806,177
  45,708      Ventas, Inc.   1,917,908
  758,470      VEREIT, Inc.   4,930,198
    

 

     99,185,652

 

 

 

Retailing – 9.4%

  24,763      Amazon.com, Inc.*   77,972,001
  1,486      Asbury Automotive Group, Inc.*   144,811
  8,493      AutoNation, Inc.*   449,534
  2,286      AutoZone, Inc.*   2,692,085
  123,268      Dick’s Sporting Goods, Inc.   7,134,752
  24,580      Dollar General Corp.   5,152,460
  34,974      eBay, Inc.   1,822,145
  34,609      Home Depot, Inc. (The)   9,611,265
  108,585      Lowe’s Cos., Inc.   18,009,908
  1,541      MercadoLibre, Inc.*   1,668,102
  34,301      Murphy USA, Inc.*   4,399,789
  1,394      O’Reilly Automotive, Inc.*   642,746
  8,426      Penske Automotive Group, Inc.   401,583
  843      Stamps.com, Inc.*   203,121
  149,794      Target Corp.   23,580,571
    

 

     153,884,873

 

 

 

Semiconductors & Semiconductor Equipment – 4.0%

  218,165      Applied Materials, Inc.   12,969,909
  15,046      Inphi Corp.*   1,688,913
  31,784      Intel Corp.   1,645,775
  15,650      Lam Research Corp.   5,191,887
  61,648      NVIDIA Corp.   33,365,131
  13,204      Power Integrations, Inc.   731,502
  11,970      QUALCOMM, Inc.   1,408,630
  2,395      Teradyne, Inc.   190,307
  63,128      Texas Instruments, Inc.   9,014,047
    

 

     66,206,101

 

 

 


GOLDMAN SACHS U.S. TAX-MANAGED EQUITY FUND

 

Schedule of Investments (continued)

September 30, 2020 (Unaudited)

 

Shares      Description   Value
  Common Stocks – (continued)
 

Software & Services – 13.4%

  44,829      Adobe, Inc.*   $     21,985,487
  40,860      Black Knight, Inc.*   3,556,863
  21,888      Cadence Design Systems, Inc.*   2,333,917
  17,268      Citrix Systems, Inc.   2,377,976
  95,022      Cognizant Technology Solutions Corp. Class A   6,596,427
  5,074      EPAM Systems, Inc.*   1,640,323
  16,958      Fastly, Inc. Class A*   1,588,625
  20,345      FireEye, Inc.*   251,159
  7,263      FleetCor Technologies, Inc.*   1,729,320
  79,080      Fortinet, Inc.*   9,316,415
  8,663      Gartner, Inc.*   1,082,442
  63,133      International Business Machines Corp.   7,681,392
  3,182      Intuit, Inc.   1,038,000
  373,480      Microsoft Corp.   78,554,048
  37,008      Okta, Inc.*   7,914,161
  75,324      Oracle Corp.   4,496,843
  6,494      Palo Alto Networks, Inc.*   1,589,407
  169,376      PayPal Holdings, Inc.*   33,372,153
  5,663      Perficient, Inc.*   242,037
  25,756      Perspecta, Inc.   500,954
  5,399      ServiceNow, Inc.*   2,618,515
  1,609      Square, Inc. Class A*   261,543
  14,865      Twilio, Inc. Class A*   3,672,993
  37,114      VeriSign, Inc.*   7,602,803
  9,615      Visa, Inc. Class A   1,922,712
  78,001      Western Union Co. (The)   1,671,561
  27,322      Workday, Inc. Class A*   5,877,782
  4,250      Zoom Video Communications, Inc. Class A*   1,997,968
  43,289      Zscaler, Inc.*   6,090,329
    

 

     219,564,155

 

 

 

Technology Hardware & Equipment – 7.0%

  842,445      Apple, Inc.   97,563,555
  1,620      Arista Networks, Inc.*   335,227
  24,727      Cisco Systems, Inc.   973,997
  111,321     

Keysight Technologies, Inc.*

10,996,288

  6,357      National Instruments Corp.   226,945
  42,942      NetApp, Inc.   1,882,577
  5,934      SYNNEX Corp.   831,116
  135,115      TTM Technologies, Inc.*   1,541,662
    

 

     114,351,367

 

 

 

Telecommunication Services – 0.1%

  39,101      Cogent Communications Holdings, Inc.   2,348,015

 

 

 

Transportation – 2.1%

  31,353      CSX Corp.   2,435,188
  18,420      Norfolk Southern Corp.   3,941,696
  50,365      Old Dominion Freight Line, Inc.   9,112,036
  42,301      Ryder System, Inc.   1,786,794
  61,767      Union Pacific Corp.   12,160,069
  28,238      United Parcel Service, Inc. Class B   4,705,298
    

 

     34,141,081

 

 

 

Utilities – 1.2%

  43,619      CMS Energy Corp.   2,678,643
  35,130      DTE Energy Co.   4,041,355
  38,413      Entergy Corp.   3,784,833
  112,386      MDU Resources Group, Inc.   2,528,685

 

 

Shares      Description   Value
  Common Stocks – (continued)
 

Utilities – (continued)

  68,737      NRG Energy, Inc.   $       2,112,976
  50,963      Public Service Enterprise Group, Inc.   2,798,378
  85,592      Vistra Corp.   1,614,265
    

 

     19,559,135

 

 

 


TOTAL INVESTMENTS BEFORE SECURITIES

LENDING REINVESTMENT VEHICLE
(Cost $986,651,818)

  $1,645,331,082

 

 

 

  Securities Lending Reinvestment Vehicle(b) 0.1%
 

Goldman Sachs Financial Square Government Fund — Institutional
Shares

  2,112,125      0.027%   $       2,112,125
 

(Cost $2,112,125)

 

 

 

 
TOTAL INVESTMENTS – 100.1%
(Cost $988,763,943)
  $1,647,443,207

 

 

 

LIABILITIES IN EXCESS OF
OTHER ASSETS – (0.1)%

  (2,160,375)

 

 

  NET ASSETS – 100.0%   $1,645,282,832

 

 

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.
*   Security is currently in default and/or non-income producing.
(a)   All or a portion of security is on loan.
(b)   Represents an Affiliated Issuer.
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.

 

 

Investment Abbreviation:
REIT  

— Real Estate Investment Trust

 

 


GOLDMAN SACHS INTERNATIONAL TAX-MANAGED EQUITY FUND

 

Schedule of Investments

September 30, 2020 (Unaudited)

 

Shares      Description   Value
  Common Stocks – 100.0%
 

Australia – 10.3%

  95,967      Adairs Ltd. (Retailing)   $       226,518
  80,226      ASX Ltd. (Diversified Financials)   4,690,466
  552,701      Aurizon Holdings Ltd. (Transportation)   1,700,314
  327,751      BHP Group plc (Materials)   6,992,291
  415,823      Brambles Ltd. (Commercial & Professional Services)   3,157,361
  167,225      Commonwealth Bank of Australia (Banks)   7,695,074
  624,018      Evolution Mining Ltd. (Materials)   2,606,796
  529,688      Fortescue Metals Group Ltd. (Materials)   6,222,790
  300,778      Goodman Group (REIT)   3,894,303
  297,507      Harvey Norman Holdings Ltd. (Retailing)   968,311
  51,179      JB Hi-Fi Ltd. (Retailing)   1,740,086
  66,874      Magellan Financial Group Ltd. (Diversified Financials)   2,758,151
  25,008      Newcrest Mining Ltd. (Materials)   567,080
  9,078      Premier Investments Ltd. (Retailing)   134,948
  1,699      REA Group Ltd. (Media & Entertainment)   135,289
  320,184      Regis Resources Ltd. (Materials)   1,163,944
  70,006      Rio Tinto Ltd. (Materials)   4,781,508
  124,163      Rio Tinto plc ADR (Materials)(a)   7,498,204
  151,209      Santos Ltd. (Energy)   534,643
  193,408      Sonic Healthcare Ltd. (Health Care Equipment & Services)   4,592,897
  177,657      Wesfarmers Ltd. (Retailing)   5,678,676
    

 

     67,739,650

 

 

 

Belgium – 0.3%

  14,673      D’ieteren SA/NV (Retailing)   912,303
  1,427      UCB SA (Pharmaceuticals, Biotechnology & Life Sciences)   162,070
  25,294      Warehouses De Pauw CVA (REIT)   920,477
    

 

     1,994,850

 

 

 

China – 1.0%

  40,000      Alibaba Health Information Technology Ltd. (Health Care Equipment & Services)*   98,363
  663,000      China Mengniu Dairy Co. Ltd. (Food, Beverage & Tobacco)*   3,127,202
  229,500      ENN Energy Holdings Ltd. (Utilities)   2,518,361
  640,000      Tingyi Cayman Islands Holding Corp. (Food, Beverage & Tobacco)   1,133,245
    

 

     6,877,171

 

 

Shares      Description   Value
  Common Stocks – (continued)
 

Denmark – 3.3%

  11,438      DSV PANALPINA A/S (Transportation)   $    1,855,280
  168,695      Novo Nordisk A/S Class B (Pharmaceuticals, Biotechnology & Life Sciences)   11,687,963
  9,175      Novozymes A/S Class B (Materials)   576,671
  10,594      Scandinavian Tobacco Group A/S Class A (Food, Beverage & Tobacco)(b)   156,899
  47,294      Vestas Wind Systems A/S (Capital Goods)   7,643,019
    

 

     21,919,832

 

 

 

Finland – 1.5%

  129,864      Neste OYJ (Energy)   6,838,604
  578,994      Nokia OYJ (Technology Hardware & Equipment)*   2,266,101
  11,349      Tokmanni Group Corp. (Retailing)   200,390
  33,656      Valmet OYJ (Capital Goods)   830,197
    

 

     10,135,292

 

 

 

France – 6.7%

  3,049      Albioma SA (Utilities)   158,545
  6,168      Alstom SA (Capital Goods)*   308,110
  29,426      Bouygues SA (Capital Goods)   1,016,855
  5,714      Christian Dior SE (Consumer Durables & Apparel)   2,343,736
  2,146      Gaztransport Et Technigaz SA (Energy)   204,648
  18,346      Gecina SA (REIT)   2,418,475
  127      Hermes International (Consumer Durables & Apparel)   109,379
  51,710      Legrand SA (Capital Goods)   4,118,667
  38,375      Rexel SA (Capital Goods)*   481,147
  13,049      Safran SA (Capital Goods)*   1,283,854
  71,634      Sanofi (Pharmaceuticals, Biotechnology & Life Sciences)   7,178,575
  18,483      Sartorius Stedim Biotech (Pharmaceuticals, Biotechnology & Life Sciences)   6,384,098
  74,570      Schneider Electric SE (Capital Goods)   9,268,971
  9,249      Teleperformance (Commercial & Professional Services)   2,851,487
  206,930      Vivendi SA (Media & Entertainment)   5,779,323
    

 

     43,905,870

 

 

 

Germany – 7.5%

  39,407      Allianz SE (Registered) (Insurance)   7,563,379
  26,951      Aurubis AG (Materials)   1,833,481
  38,748      Deutsche Boerse AG (Diversified Financials)   6,793,313
  154,330      Deutsche Post AG (Registered) (Transportation)   7,002,812
  1,676      Deutsche Wohnen SE (Real Estate)   83,765

 

 

 


GOLDMAN SACHS INTERNATIONAL TAX-MANAGED EQUITY FUND

 

Schedule of Investments (continued)

September 30, 2020 (Unaudited)

 

Shares      Description   Value
  Common Stocks – (continued)
 

Germany – (continued)

  16,737      DWS Group GmbH & Co. KGaA (Diversified Financials)*(b)   $       576,827
  1,171      Gerresheimer AG (Pharmaceuticals, Biotechnology & Life Sciences)   131,047
  24,549      Henkel AG & Co. KGaA (Preference) (Household & Personal Products)(c)   2,567,494
  6,080      Hornbach Holding AG & Co. KGaA (Retailing)   709,998
  36,144      Nemetschek SE (Software & Services)   2,641,811
  23,869      Porsche Automobil Holding SE (Preference) (Automobiles & Components)*,(c)   1,420,015
  53,087      Scout24 AG (Media & Entertainment)(b)   4,630,623
  80,448      Siemens AG (Registered) (Capital Goods)   10,159,706
  40,224      Siemens Energy AG (Utilities)*   1,084,694
  8,161      Siltronic AG (Semiconductors & Semiconductor Equipment)   731,156
  8,714      Volkswagen AG (Preference) (Automobiles & Components)(c)   1,402,181
    

 

     49,332,302

 

 

 

Hong Kong – 0.6%

  36,000      CLP Holdings Ltd. (Utilities)   336,141
  70,800      Hong Kong Exchanges & Clearing Ltd. (Diversified Financials)   3,332,803
  354,800      Man Wah Holdings Ltd. (Consumer Durables & Apparel)   475,202
    

 

     4,144,146

 

 

 

Israel – 0.6%

  190,911      Plus500 Ltd. (Diversified Financials)   3,859,124

 

 

 

Italy – 3.8%

  159,727      Azimut Holding SpA (Diversified Financials)   2,884,180
  17,152      Banca Generali SpA (Diversified Financials)   521,652
  29,081      Buzzi Unicem SpA (Materials)   675,655
  778,950      Enel SpA (Utilities)   6,758,104
  28,470      Ferrari NV (Automobiles & Components)   5,224,785
  1,638,249      Intesa Sanpaolo SpA (Banks)   3,082,234
  83,698      Poste Italiane SpA (Insurance)(b)   741,715
  182,792      Prysmian SpA (Capital Goods)   5,306,026
    

 

     25,194,351

 

 

 

Japan – 28.5%

  43,400      AGC, Inc. (Capital Goods)   1,275,502
  17,400      Alps Alpine Co. Ltd. (Technology Hardware & Equipment)   234,545
  2,100      Arata Corp. (Retailing)   104,820

 

 

Shares      Description   Value
  Common Stocks – (continued)
 

Japan – (continued)

  10,300      Arcs Co. Ltd. (Food & Staples Retailing)   $       264,434
  77,100      Asahi Kasei Corp. (Materials)   672,592
  199,400      Astellas Pharma, Inc. (Pharmaceuticals, Biotechnology & Life Sciences)   2,972,375
  67,000      Autobacs Seven Co. Ltd. (Retailing)   872,679
  2,800      BayCurrent Consulting, Inc. (Commercial & Professional Services)   390,561
  76,100      Benesse Holdings, Inc. (Consumer Services)   1,958,731
  76,200      Chugai Pharmaceutical Co. Ltd. (Pharmaceuticals, Biotechnology & Life Sciences)   3,419,512
  3,300      Create SD Holdings Co. Ltd. (Food & Staples Retailing)   115,782
  12,700      Daicel Corp. (Materials)   91,536
  323,400      Dai-ichi Life Holdings, Inc. (Insurance)   4,563,288
  4,900      Daikin Industries Ltd. (Capital Goods)   905,394
  252,400      DCM Holdings Co. Ltd. (Retailing)   3,477,578
  7,000      Denka Co. Ltd. (Materials)   213,143
  51,300      Dentsu Group, Inc. (Media & Entertainment)   1,514,197
  20,600      Doshisha Co. Ltd. (Retailing)   414,631
  1,200      Earth Corp. (Household & Personal Products)   89,379
  30,100      EDION Corp. (Retailing)   315,349
  10,800      FANUC Corp. (Capital Goods)   2,072,688
  3,600      FP Corp. (Materials)   151,631
  54,000      Fujitsu Ltd. (Software & Services)   7,377,354
  8,800      Furyu Corp. (Consumer Durables & Apparel)   100,006
  5,600      Glory Ltd. (Capital Goods)   125,561
  48,000      Gumi, Inc. (Media & Entertainment)   444,712
  7,500      Hikari Tsushin, Inc. (Retailing)   1,789,416
  4,000      Hitachi Capital Corp. (Diversified Financials)   94,053
  112,100      Hitachi Ltd. (Technology Hardware & Equipment)   3,795,645
  45,300      Hitachi Metals Ltd. (Materials)   698,530
  5,600      Hitachi Transport System Ltd. (Transportation)   177,389
  242,000      Honda Motor Co. Ltd. (Automobiles & Components)   5,746,843
  11,300      Hulic Co. Ltd. (Real Estate)   106,030
  3,100      Ibiden Co. Ltd. (Technology Hardware & Equipment)   105,639
  106,500      ITOCHU Corp. (Capital Goods)   2,727,022
  62,000      Izumi Co. Ltd. (Retailing)   2,260,766
  270,900      Japan Tobacco, Inc. (Food, Beverage & Tobacco)   4,942,242
  33,400      Kamigumi Co. Ltd. (Transportation)   658,159
  5,500      Kaneka Corp. (Materials)   154,082

 

 

 


GOLDMAN SACHS INTERNATIONAL TAX-MANAGED EQUITY FUND

 

Schedule of Investments (continued)

September 30, 2020 (Unaudited)

 

Shares      Description   Value
  Common Stocks – (continued)
 

Japan – (continued)

  117,400      Kansai Electric Power Co., Inc. (The) (Utilities)   $    1,137,828
  23,400      KDDI Corp. (Telecommunication Services)   588,546
  8,300      Koei Tecmo Holdings Co. Ltd. (Media & Entertainment)   400,428
  21,200      Kohnan Shoji Co. Ltd. (Retailing)   825,858
  14,700      Komeri Co. Ltd. (Retailing)   464,610
  67,200      Konami Holdings Corp. (Media & Entertainment)   2,906,970
  295,200      K’s Holdings Corp. (Retailing)   3,996,412
  7,100      Lion Corp. (Household & Personal Products)   145,757
  53,300      LIXIL Group Corp. (Capital Goods)   1,077,316
  91,500      M3, Inc. (Health Care Equipment & Services)   5,659,848
  828,300      Marubeni Corp. (Capital Goods)   4,702,595
  34,600      McDonald’s Holdings Co. Japan Ltd. (Consumer Services)   1,682,874
  20,100      MINEBEA MITSUMI, Inc. (Capital Goods)   382,870
  125,400      Mitsubishi Chemical Holdings Corp. (Materials)   723,857
  395,200      Mitsubishi Electric Corp. (Capital Goods)   5,362,551
  43,300      Mitsubishi Materials Corp. (Materials)   853,303
  19,300      Mynet, Inc. (Media & Entertainment)*   274,443
  10,600      NEC Corp. (Software & Services)   620,034
  235,800      Nexon Co. Ltd. (Media & Entertainment)   5,881,742
  9,900      NGK Spark Plug Co. Ltd. (Automobiles & Components)   172,857
  24,400      Nihon M&A Center, Inc. (Commercial & Professional Services)   1,395,909
  13,800      Nintendo Co. Ltd. (Media & Entertainment)   7,820,339
  86,700      Nipro Corp. (Health Care Equipment & Services)   1,012,272
  17,900      Nitori Holdings Co. Ltd. (Retailing)   3,713,389
  75,100      Nitto Denko Corp. (Materials)   4,892,672
  217,700      Nomura Research Institute Ltd. (Software & Services)   6,410,067
  41,200      Omron Corp. (Technology Hardware & Equipment)   3,221,268
  37,000      Ono Pharmaceutical Co. Ltd. (Pharmaceuticals, Biotechnology & Life Sciences)   1,163,793
  7,300      Otsuka Corp. (Software & Services)   373,040
  14,300      Otsuka Holdings Co. Ltd. (Pharmaceuticals, Biotechnology & Life Sciences)   605,824
  74,900      Pan Pacific International Holdings Corp. (Retailing)   1,744,292

 

 

Shares      Description   Value
  Common Stocks – (continued)
 

Japan – (continued)

  11,900      Raccoon Holdings, Inc. (Retailing)   $       239,862
  45,300      Rakuten, Inc. (Retailing)   488,469
  10,800      Resorttrust, Inc. (Consumer Services)   164,583
  4,900      Ride On Express Holdings Co. Ltd. (Consumer Services)   121,278
  62,600      Rohm Co. Ltd. (Semiconductors & Semiconductor Equipment)   4,839,608
  15,000      Rohto Pharmaceutical Co. Ltd. (Household & Personal Products)   493,210
  22,600      Sawai Pharmaceutical Co. Ltd. (Pharmaceuticals, Biotechnology & Life Sciences)   1,140,309
  18,500      Scroll Corp. (Retailing)   161,011
  63,800      Shimachu Co. Ltd. (Retailing)   2,158,154
  4,700      Shinko Electric Industries Co. Ltd. (Semiconductors & Semiconductor Equipment)   82,358
  82,400      Shionogi & Co. Ltd. (Pharmaceuticals, Biotechnology & Life Sciences)   4,410,398
  31,300      Ship Healthcare Holdings, Inc. (Health Care Equipment & Services)   1,532,677
  44,900      SoftBank Group Corp. (Telecommunication Services)   2,778,169
  65,900      Square Enix Holdings Co. Ltd. (Media & Entertainment)   4,361,350
  34,100      Subaru Corp. (Automobiles & Components)   661,978
  399,800      Sumitomo Corp. (Capital Goods)   4,819,387
  91,500      Sumitomo Dainippon Pharma Co. Ltd. (Pharmaceuticals, Biotechnology & Life Sciences)   1,205,731
  17,900      Sumitomo Forestry Co. Ltd. (Consumer Durables & Apparel)   285,672
  25,600      Sumitomo Metal Mining Co. Ltd. (Materials)   793,966
  19,800      Sumitomo Mitsui Trust Holdings, Inc. (Banks)   526,755
  62,300      Sundrug Co. Ltd. (Food & Staples Retailing)   2,348,395
  33,300      Takeda Pharmaceutical Co. Ltd. (Pharmaceuticals, Biotechnology & Life Sciences)   1,190,240
  1,300      TDK Corp. (Technology Hardware & Equipment)   141,951
  97,400      Teijin Ltd. (Materials)   1,510,518
  16,200      T-Gaia Corp. (Retailing)   304,879
  223,500      TIS, Inc. (Software & Services)   4,747,134
  20,600      Tokyo Electron Ltd. (Semiconductors & Semiconductor Equipment)   5,381,847
  16,800      Valor Holdings Co. Ltd. (Food & Staples Retailing)   464,958

 

 

 


GOLDMAN SACHS INTERNATIONAL TAX-MANAGED EQUITY FUND

 

Schedule of Investments (continued)

September 30, 2020 (Unaudited)

 

Shares      Description   Value
  Common Stocks – (continued)
 

Japan – (continued)

  45,600      Welcia Holdings Co. Ltd. (Food & Staples Retailing)   $    1,999,716
  838,100      Yamada Holdings Co. Ltd. (Retailing)   4,179,547
  20,400      Yamaha Motor Co. Ltd. (Automobiles & Components)   296,426
  9,600      Yamato Holdings Co. Ltd. (Transportation)   252,887
  4,000      Yaoko Co. Ltd. (Food & Staples Retailing)   297,073
  958,700      Z Holdings Corp. (Media & Entertainment)   6,403,566
    

 

     188,391,422

 

 

 

Luxembourg – 0.7%

  5,904      Eurofins Scientific SE (Pharmaceuticals, Biotechnology & Life Sciences)*   4,676,954