# EDGAR Filing Document

**Accession Number:** 0000886982
**File Stem:** 0000886982-26-000287
**Filing Date:** 2026-6
**Character Count:** 193972
**Document Hash:** 4801d3f10129ec9d32f17e89e9d58030
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000886982-26-000287.hdr.sgml**: 20260612

**ACCESSION NUMBER**: 0000886982-26-000287

**CONFORMED SUBMISSION TYPE**: 11-K

**PUBLIC DOCUMENT COUNT**: 45

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260612

**DATE AS OF CHANGE**: 20260612

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GOLDMAN SACHS GROUP INC
- **CENTRAL INDEX KEY:** 0000886982
- **STANDARD INDUSTRIAL CLASSIFICATION:** SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 134019460
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 11-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-14965
- **FILM NUMBER:** 261086070

**BUSINESS ADDRESS:**
- **STREET 1:** 200 WEST STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10282
- **BUSINESS PHONE:** 212-902-1000

**MAIL ADDRESS:**
- **STREET 1:** 200 WEST STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10282

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GOLDMAN SACHS GROUP INC/
- **DATE OF NAME CHANGE:** 20010104

?xml version='1.0' encoding='ASCII'? gs-20260612

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

**Form 11-K**

☒ ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

**For the fiscal year ended December 31, 2025**

or

☐ TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ______ to _______

Commission File Number: 001-14965

A.&nbsp;&nbsp;&nbsp;&nbsp;Full title of the plan and the address of the plan, if different from that of issuer named below:

**The Goldman Sachs 401(k) Plan**

B.&nbsp;&nbsp;&nbsp;&nbsp;Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

THE GOLDMAN SACHS GROUP, INC.

200 West Street

New York, NY 10282

------

THE GOLDMAN SACHS 401(k) PLAN

FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULES

---

| | | |
|:---|:---|:---|
| **INDEX** | | |
| | | **Page No.** |
| **[Report of Independent Registered Public Accounting Firm](#i4c4fee8acf4b40a29439521202ad8c8a_13)** | **[Report of Independent Registered Public Accounting Firm](#i4c4fee8acf4b40a29439521202ad8c8a_13)** | **[1](#i4c4fee8acf4b40a29439521202ad8c8a_13)** |
| **[Financial Statements](#i4c4fee8acf4b40a29439521202ad8c8a_19)** | **[Financial Statements](#i4c4fee8acf4b40a29439521202ad8c8a_19)** | **[2](#i4c4fee8acf4b40a29439521202ad8c8a_19)** |
| [Statements of Net Assets Available for Benefits](#i4c4fee8acf4b40a29439521202ad8c8a_19) | [Statements of Net Assets Available for Benefits](#i4c4fee8acf4b40a29439521202ad8c8a_19) | [2](#i4c4fee8acf4b40a29439521202ad8c8a_19) |
| [Statements of Changes in Net Assets Available for Benefits](#i4c4fee8acf4b40a29439521202ad8c8a_22) | [Statements of Changes in Net Assets Available for Benefits](#i4c4fee8acf4b40a29439521202ad8c8a_22) | [3](#i4c4fee8acf4b40a29439521202ad8c8a_22) |
| **[Notes to Financial Statements](#i4c4fee8acf4b40a29439521202ad8c8a_25)** | **[Notes to Financial Statements](#i4c4fee8acf4b40a29439521202ad8c8a_25)** | **[4](#i4c4fee8acf4b40a29439521202ad8c8a_25)** |
| [Note 1.](#i4c4fee8acf4b40a29439521202ad8c8a_25) | [Plan Description](#i4c4fee8acf4b40a29439521202ad8c8a_25) | [4](#i4c4fee8acf4b40a29439521202ad8c8a_25) |
| [Note 2.](#i4c4fee8acf4b40a29439521202ad8c8a_28) | [Basis of Presentation](#i4c4fee8acf4b40a29439521202ad8c8a_28) | [5](#i4c4fee8acf4b40a29439521202ad8c8a_28) |
| [Note 3.](#i4c4fee8acf4b40a29439521202ad8c8a_31) | [Significant Accounting Policies](#i4c4fee8acf4b40a29439521202ad8c8a_31) | [6](#i4c4fee8acf4b40a29439521202ad8c8a_31) |
| [Note 4.](#i4c4fee8acf4b40a29439521202ad8c8a_34) | [Fair Value Measurements](#i4c4fee8acf4b40a29439521202ad8c8a_34) | [7](#i4c4fee8acf4b40a29439521202ad8c8a_34) |
| [Note 5.](#i4c4fee8acf4b40a29439521202ad8c8a_37) | [Investment Assets and Investment Liabilities](#i4c4fee8acf4b40a29439521202ad8c8a_37) | [8](#i4c4fee8acf4b40a29439521202ad8c8a_37) |
| [Note 6.](#i4c4fee8acf4b40a29439521202ad8c8a_40) | [Related-Party and Party-In-Interest Transactions](#i4c4fee8acf4b40a29439521202ad8c8a_40) | [9](#i4c4fee8acf4b40a29439521202ad8c8a_40) |
| [Note 7](#i4c4fee8acf4b40a29439521202ad8c8a_43)[.](#i4c4fee8acf4b40a29439521202ad8c8a_43) | [Plan Termination](#i4c4fee8acf4b40a29439521202ad8c8a_43) | [9](#i4c4fee8acf4b40a29439521202ad8c8a_43) |
| [Note 8.](#i4c4fee8acf4b40a29439521202ad8c8a_46) | [Income Tax Status](#i4c4fee8acf4b40a29439521202ad8c8a_46) | [9](#i4c4fee8acf4b40a29439521202ad8c8a_46) |
| [Note 9.](#i4c4fee8acf4b40a29439521202ad8c8a_49) | [Reconciliation of Financial Statements to the Form 5500](#i4c4fee8acf4b40a29439521202ad8c8a_49) | [10](#i4c4fee8acf4b40a29439521202ad8c8a_49) |
| [Note 10.](#i4c4fee8acf4b40a29439521202ad8c8a_52) | [Financial Instruments with Off-Balance Sheet Risk](#i4c4fee8acf4b40a29439521202ad8c8a_52) | [10](#i4c4fee8acf4b40a29439521202ad8c8a_52) |
| **[Supplemental](#i4c4fee8acf4b40a29439521202ad8c8a_58)[Schedules](#i4c4fee8acf4b40a29439521202ad8c8a_58)[\*](#i4c4fee8acf4b40a29439521202ad8c8a_58)** | **[Supplemental](#i4c4fee8acf4b40a29439521202ad8c8a_58)[Schedules](#i4c4fee8acf4b40a29439521202ad8c8a_58)[\*](#i4c4fee8acf4b40a29439521202ad8c8a_58)** | **[12](#i4c4fee8acf4b40a29439521202ad8c8a_58)** |
| [Schedule H, Line 4i – Schedule of Assets (Held at End of Year)](#i4c4fee8acf4b40a29439521202ad8c8a_58) | [Schedule H, Line 4i – Schedule of Assets (Held at End of Year)](#i4c4fee8acf4b40a29439521202ad8c8a_58) | [12](#i4c4fee8acf4b40a29439521202ad8c8a_58) |
| [Schedule H, Line 4i – Schedule of Assets (Acquired and Disposed of Within Year)](#i4c4fee8acf4b40a29439521202ad8c8a_61) | [Schedule H, Line 4i – Schedule of Assets (Acquired and Disposed of Within Year)](#i4c4fee8acf4b40a29439521202ad8c8a_61) | [36](#i4c4fee8acf4b40a29439521202ad8c8a_61) |
| [Schedule H, Line 4j – Schedule of Reportable Transactions](#i4c4fee8acf4b40a29439521202ad8c8a_64) | [Schedule H, Line 4j – Schedule of Reportable Transactions](#i4c4fee8acf4b40a29439521202ad8c8a_64) | [49](#i4c4fee8acf4b40a29439521202ad8c8a_64) |

---

\*All other schedules required by 29 CFR §2520.103-10 of the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974, as amended, are not included because they are not applicable.

------

**Report of Independent Registered Public Accounting Firm**

To the Administrator and Plan Participants of The Goldman Sachs 401(k) Plan

***Opinion on the Financial Statements***

We have audited the accompanying statements of net assets available for benefits of The Goldman Sachs 401(k) Plan (the "Plan") as of December 31, 2025 and 2024 and the related statements of changes in net assets available for benefits for the years then ended, including the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2025 and 2024, and the changes in net assets available for benefits for the years then ended in conformity with accounting principles generally accepted in the United States of America.

***Basis for Opinion***

These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on the Plan's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

***Supplemental Information***

The supplemental Schedule H, Line 4i – Schedule of Assets (Held at End of Year) as of December 31, 2025 and Schedule H, Line 4i – Schedule of Assets (Acquired and Disposed of Within Year) and Schedule H, Line 4j – Schedule of Reportable Transactions for the year ended December 31, 2025 ("supplemental schedules") have been subjected to audit procedures performed in conjunction with the audit of the Plan's financial statements. The supplemental schedules are the responsibility of the Plan's management. Our audit procedures included determining whether the supplemental schedules reconcile to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental schedules. In forming our opinion on the supplemental schedules, we evaluated whether the supplemental schedules, including their form and content, are presented in conformity with the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental schedules are fairly stated, in all material respects, in relation to the financial statements as a whole.

/s/ PricewaterhouseCoopers LLP

New York, New York

June 12, 2026

We have served as the Plan's auditor since at least 1983. We have not been able to determine the specific year we began serving as auditor of the Plan.

------

THE GOLDMAN SACHS 401(k) PLAN

**Statements of Net Assets Available for Benefits**

---

| | | |
|:---|:---|:---|
| | As of December | As of December |
| *$ in thousands* | **2025** | 2024 |
| **Assets** |  |  |
| Investment assets (at fair value) | $**14339739** | $12558192 |
| Receivables: |  |  |
| &nbsp;&nbsp;Employee contributions | **51** | 67 |
| &nbsp;&nbsp;Employer contributions | **211758** | 200759 |
| &nbsp;&nbsp;Notes receivable from participants | **31466** | 31125 |
| &nbsp;&nbsp;Interest and dividends | **13592** | 13055 |
| &nbsp;&nbsp;Due from brokers and other receivables | **3143** | 4755 |
| Total assets | **14599749** | 12807953 |
| **Liabilities** |  |  |
| Investment liabilities (at fair value) | **54** | 2 |
| Due to brokers and other payables | **6436** | 41841 |
| Accrued expenses | **5235** | 5167 |
| Total liabilities | **11725** | 47010 |
| **Net assets available for benefits** | $**14588024** | $12760943 |

---

The accompanying notes are an integral part of these financial statements.

------

THE GOLDMAN SACHS 401(k) PLAN

**Statements of Changes in Net Assets Available for Benefits**

---

| | | |
|:---|:---|:---|
| | Year Ended December | Year Ended December |
| *$ in thousands* | **2025** | 2024 |
| **Additions** |  |  |
| Investment income: |  |  |
| &nbsp;&nbsp;Net appreciation in the fair value of investments | $**1935533** | $1687677 |
| &nbsp;&nbsp;Interest and dividends | **117255** | 121689 |
| &nbsp;&nbsp;Less: Investment management fees and other expenses | **(16221)** | (16117) |
| Total investment income | **2036567** | 1793249 |
| Interest income on notes receivable from participants | **2413** | 2050 |
| Contributions: |  |  |
| &nbsp;&nbsp;Employee | **423416** | 393787 |
| &nbsp;&nbsp;Employer | **211758** | 200759 |
| Total contributions | **635174** | 594546 |
| Total additions | **2674154** | 2389845 |
| **Deductions** |  |  |
| Benefits paid | **847073** | 951085 |
| Total deductions | **847073** | 951085 |
| Net increase in net assets available for benefits | **1827081** | 1438760 |
| Net assets available for benefits, beginning balance | **12760943** | 11322183 |
| **Net assets available for benefits, ending balance** | $**14588024** | $12760943 |

---

The accompanying notes are an integral part of these financial statements.

------

THE GOLDMAN SACHS 401(k) PLAN

**Notes to Financial Statements**

**Note 1.**

**Plan Description**

The following description of The Goldman Sachs 401(k) Plan (the Plan) is provided for general information purposes only. The Plan sponsor is The Goldman Sachs Group, Inc. (the firm). Participants should refer to the Plan document, as most recently amended and restated, for a more complete description of the Plan's provisions. Items referenced in italics are defined in the Plan document.

The Plan became effective on January 1, 1945 as the "Goldman Sachs Employees' Profit Sharing Retirement Income Plan" and is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (ERISA). Effective January 1, 2008, the Goldman Sachs Employees' Profit Sharing Retirement Income Plan was amended to incorporate a 401(k) safe harbor design and was renamed "The Goldman Sachs 401(k) Plan." The Plan has been subsequently amended for various reasons, including to reflect changes in law.

**General**

The Plan is a defined contribution plan to which participants may elect to make pre-tax, after-tax, and "Roth" after-tax contributions each year from their *401(k) Compensation* (as determined under the Plan), and to which they can roll over amounts from certain other qualified retirement arrangements. Eligible participants have the option to convert existing eligible non-Roth Plan balances to a Roth 401(k) account in the Plan. The Plan's *Plan Year* is the 12-month period commencing on January 1 and ending on the following December 31.

The Plan offers a dollar-for-dollar *Matching Contribution* on participants' elective deferrals up to 6% of *Safe Harbor Compensation*, capped at a maximum match of $12,500. If an eligible participant's *Safe Harbor Compensation* is less than $125,000, the firm will also allocate to that eligible participant's account a *Fixed Contribution* equal to 2% of *Safe Harbor Compensation*. In addition to these contributions, the firm will allocate to each eligible participant an *Additional Retirement Contribution* of up to $4,000. Collectively, the *Matching Contribution*, *Fixed Contribution* and *Additional Retirement Contribution* are herein referred to as the *Firm Contributions*.

The Plan has two named fiduciaries, the *Retirement Committee* and the *Administrative Committee*. The *Retirement Committee* has the power to appoint one or more investment managers, as well as certain other duties relating to the investment of the funds held by the trustee. The *Administrative Committee* is responsible for administering the terms and provisions of the Plan. In general, each committee's members are employees of the firm or its affiliates, although in certain cases non-employees may serve on either committee. Callan LLC (Callan) is the *Retirement Committee's* investment adviser. Participants direct their contributions and the *Firm Contributions* into various investment options available from time to time under the Plan through the Goldman Sachs Profit Sharing Master Trust (the Master Trust). The Plan is the sole investor in the Master Trust. Participants' directed investments can be allocated to mutual funds, collective trusts, separately managed accounts and a bank deposit account. Alight Solutions is the Plan's record keeper.

The Plan offers participants the option to invest in the *Stock Fund*, which is a separately managed account and substantially all of its investments are shares of the firm's common stock. In accordance with a policy adopted by the *Retirement Committee,* no more than 20% of any contribution made on behalf of each participant can be invested in the *Stock Fund*. When a participant reallocates his or her total investment balance, he or she is limited to reallocating 20% of his or her total investment balance into the *Stock Fund*. In addition, participants are restricted from transferring into or out of the *Stock Fund* during certain periods in accordance with the firm's compliance procedures designed to avoid violations of applicable securities laws.

The Plan's investments are owned by the Master Trust, which is subject to a trust agreement (the Trust Agreement) with The Bank of New York Mellon Corporation (the Trustee).

------

THE GOLDMAN SACHS 401(k) PLAN

**Notes to Financial Statements**

**Eligibility**

Employees become eligible to make pre-tax, after-tax, and "Roth" after-tax, contributions to the Plan as of the first day of the month after they join the firm or its affiliates as eligible employees. In addition, employees become eligible for *Matching Contributions* and *Fixed Contributions* as of the first day of the month following hire date. In addition, to be eligible for the *Fixed Contribution*, the employee must be employed on the last day of the firm's fiscal year that ends with or within the *Plan Year*.

To be eligible for the *Additional Retirement Contribution*, employees must have been (i) active or on authorized leave of absence for no longer than two years as of November 26, 2004, (ii) age 46 or older as of November 26, 2004, and (iii) employed by the firm or its affiliates as of the last day of the current fiscal year.

**Vesting**

Participants are immediately fully vested in their own 401(k) contributions. A participant's *Matching Contributions, Fixed Contribution*s and *Additional Contributions* fully vest upon the earliest to occur of: (i) completion of a two-year period of service for the *Matching Contributions* and *Fixed Contribution*s or three-year period of service for the *Additional Contributions*, (ii) attainment of age 65 while employed by the firm or its affiliates, (iii) disability retirement, (iv) death while employed by the firm or on military duty or (v) Plan termination. There is no partial vesting of *Matching Contributions*, *Fixed Contributions* or *Additional Contributions*.

**Benefits**

Any benefits provided by the Plan are paid from net assets available for benefits. The benefit to which a Plan participant is entitled equals the amount that can be provided by the vested contributions and net earnings (or losses) thereon (including net realized and unrealized investment appreciation and depreciation) allocated to such participant's account. All or a portion of benefits can be distributed when an employee (i) leaves the firm or (ii) reaches age 59 ½.

**Notes Receivable from Participants**

A participant in the Plan is permitted to borrow between $1,000 and $50,000, reduced by (i) the highest outstanding balance of loans to such participant from the Plan during the one-year period ending on the day before the date on which such new loan is made, less (ii) the outstanding balance of loans to such participant from the Plan on the date of such new loan, subject to an overall cap of the lesser of (a) one-half of the participant's total vested account balance (including *Firm Contributions*) or (b) the balance in the participant's 401(k) and rollover contribution accounts. A participant may not borrow any amounts attributable to the *Firm Contributions*.

Interest on loans is fixed at the U.S. prime rate plus one percent for the life of the respective loan. Loans must be repaid within five years, or in some cases, ten years, with certain exceptions. Loans are repaid (principal and interest) and added back to participants' account balances through regular after-tax payroll deductions.

**Risks and Uncertainties**

Investments are exposed to various risks, such as interest rate, market, currency and credit risk. Due to the level of risk associated with certain investments and the level of uncertainty related to changes in the value of investments, it is possible that changes in risks in the near term could materially affect participants' account balances and the amounts reported in the statements of net assets available for benefits and the statements of changes in net assets available for benefits.

**Note 2.**

**Basis of Presentation**

These financial statements are prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP).

All references to 2025 and 2024 refer to the Plan's years ended, or the dates, as the context requires, December 31, 2025 and December 31, 2024, respectively.

------

THE GOLDMAN SACHS 401(k) PLAN

**Notes to Financial Statements**

**Note 3.**

**Significant Accounting Policies**

**Use of Estimates**

Preparation of these financial statements requires management to make certain estimates and assumptions, the most important of which relate to the fair value measurement of the Plan's investments. These estimates and assumptions are based on the best available information, but actual results could be materially different.

**Payment of Benefits**

Benefits are recorded when paid.

**Notes Receivable from Participants**

Participant loans are measured at their unpaid principal balance, plus any accrued but unpaid interest.

**Expenses**

Investment management fees charged by managers of mutual funds are borne by the Plan, and are included in net appreciation in the fair value of investments. Investment management fees charged by managers of collective trusts are borne by the Plan, and are included in net appreciation in the fair value of investments or investment management fees and other expenses based on the underlying trust agreements.

Investment management fees charged by managers of separately managed accounts are borne by the Plan, and are included in investment management fees and other expenses.

Other expenses borne by the Plan, unless paid by the firm, consist of custodial, administrative and investment advisory fees. Investment advisory fees are paid to Callan, which advises the *Retirement Committee* on the selection and oversight of Plan investments. These Plan expenses, unless paid by the firm, are included in investment management fees and other expenses.

**Investments**

The investments of the Plan are reported at fair value.

The Bank Deposit Option is a deposit obligation of Goldman Sachs Bank USA (GS Bank USA), a Federal Deposit Insurance Corporation (FDIC) insured New York State-chartered bank and a member of the Federal Reserve System. The Bank Deposit Option offers an FDIC-insured deposit with a floating rate coupon tied to the Federal Funds Rate.

Mutual funds and collective trust funds represent investments with various investment managers. Mutual funds are valued based on the quoted net asset value per share held. Collective trust funds are valued based on the net asset value per unit as reported by the investment managers.

Investments within separately managed accounts are described below:

Cash and cash equivalents include cash and certain short-term interest-bearing investments.

Securities purchased under agreements to resell (resale agreements) are transactions in which the Plan purchases financial instruments from a seller, typically in exchange for cash, and simultaneously enters into an agreement to resell the same or substantially the same financial instruments to the seller at a stated price plus accrued interest at a future date. Even though resale agreements involve the legal transfer of ownership of financial instruments, they are accounted for as financing arrangements because they require the financial instruments to be resold at the maturity of the agreement. The financial instruments purchased in resale agreements typically include U.S. government and federal agency obligations, investment-grade sovereign obligations, corporate debt instruments and equity securities. The Plan receives financial instruments purchased under resale agreements. To mitigate credit exposure, the investment managers monitor the market value of the resale agreements on a daily basis, and deliver or obtain additional collateral due to changes in the market value of the financial instruments, as appropriate. For resale agreements, the Plan typically requires collateral with a fair value approximately equal to the carrying value of the relevant assets in the statements of net assets available for benefits.

Fixed income securities, common and preferred stocks, real estate investment trusts, commodities, and interests in exchange-traded options and futures contracts traded in active markets are valued at closing prices on the last business day of each period presented. Securities traded in markets that are not considered active are valued based on broker or dealer quotations or alternative pricing sources with reasonable levels of price transparency. Securities that trade infrequently and therefore have little or no price transparency are valued using the investment managers' (or independent third parties on behalf of the investment managers) best estimate of fair value.

Mutual funds, as described above, may also be investments held within separately managed accounts.

------

THE GOLDMAN SACHS 401(k) PLAN

**Notes to Financial Statements**

Forward foreign currency contracts are valued at fair value, as determined by the investment managers (or independent third parties on behalf of the investment managers), using quoted forward foreign currency exchange rates. At the end of each period presented, open contracts are valued at the current forward foreign currency exchange rates and the change in market value is recorded as an unrealized gain or loss. When the contract is closed or delivery taken, the Plan records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.

Swap contracts are valued at fair value, as determined by the investment managers (or independent third parties on behalf of the investment managers) utilizing their proprietary models and taking into consideration exchange quotations on underlying instruments, dealer quotations and other market information.

See Note 10 for further information about derivatives.

Investments denominated in currencies other than the U.S. dollar are translated using exchange rates prevailing at the end of the periods presented. Purchases and sales of these investments are translated at the rate of exchange on the respective dates of such transactions.

Interest income and expense are recorded on an accrual basis. Dividend income is recorded on the ex-dividend date.

Purchases and sales of the investments within the Plan are reflected on a trade-date basis.

**Due from Brokers and Other Receivables and Due to Brokers and Other Payables**

Due from brokers and other receivables includes cash balances held with brokers, receivables from unsettled sales transactions, and collateral posted in connection with certain derivative transactions. Amounts due from brokers may be restricted to the extent that they serve as deposits for investment liabilities. Due to brokers and other payables includes payables from unsettled purchase transactions and collateral received in connection with certain derivative transactions. Certain of the Plan's securities held by the clearing brokers or prime brokers are pledged to the brokers on terms that permit them to repledge the securities to others, subject to certain limitations. Securities held at custodians under custody agreements cannot be repledged to others by the custodian.

**Note 4.**

**Fair Value Measurements**

The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Financial instruments are marked at closing prices. Fair value measurements do not include transaction costs.

The best evidence of fair value is a quoted price in an active market. If quoted prices in active markets are not available, fair value is determined by reference to prices for similar instruments, quoted prices or recent transactions in less active markets, or internally developed models that primarily use market-based or independently sourced inputs, including, but not limited to, interest rates, volatilities, equity or debt prices, foreign exchange rates, commodity prices, credit spreads and funding spreads (i.e., the spread or difference between the interest rate at which a borrower could finance a given financial instrument relative to a benchmark interest rate).

U.S. GAAP has a three-level hierarchy for disclosure of fair value measurements. This hierarchy prioritizes inputs to the valuation techniques used to measure fair value, giving the highest priority to level 1 inputs and the lowest priority to level 3 inputs. A financial instrument's level in this hierarchy is based on the lowest level of input that is significant to its fair value measurement. The fair value hierarchy is as follows:

**Level 1.** Inputs are unadjusted quoted prices in active markets to which the Plan had access at the measurement date for identical, unrestricted assets or liabilities.

**Level 2.** Inputs to valuation techniques are observable, either directly or indirectly.

**Level 3.** One or more inputs to valuation techniques are significant and unobservable.

The investment managers and custodian, on behalf of the Plan, use independent pricing sources to value Plan assets traded on exchanges and independent quoted prices or developed models for all assets not traded on exchanges. Investment managers review their valuation approaches on an ongoing basis and revise as necessary based on changing market conditions to ensure their valuations represent fair value. Subsequently, the Plan uses other methodologies to determine fair value (e.g., relevant broker quotations), which vary based on the type of instrument.

------

THE GOLDMAN SACHS 401(k) PLAN

**Notes to Financial Statements**

**Level 1 Investments**

Level 1 investments include bank deposit, mutual funds, collective trusts, and within separately managed accounts, cash and cash equivalents, certain fixed income securities, common and preferred stocks, mutual funds and most real estate investment trusts. These instruments are valued using quoted prices for identical unrestricted instruments in active markets.

The Plan determines active markets for equity instruments based on the average daily trading volume both in absolute terms and relative to the market capitalization for the instrument. The Plan determines active markets for debt instruments based on both the average daily trading volume and the number of days with trading activity.

**Level 2 Investments**

Level 2 investments include resale agreements, most fixed income securities, certain real estate investment trusts, commodities and derivatives within separately managed accounts.

The valuation of level 2 investments can be verified to quoted prices, recent trading activity for identical or similar instruments, broker or dealer quotations or alternative pricing sources with reasonable levels of price transparency. Consideration is given to the nature of the quotations (e.g., indicative or executable) and the relationship of recent market activity to the prices provided from alternative pricing sources.

**Level 3 Investments**

Level 3 investments have one or more significant valuation inputs that are not observable. Absent evidence to the contrary, level 3 instruments are initially valued at transaction price, which is considered to be the best initial estimate of fair value. Subsequently, the Plan uses other methodologies to determine fair value, which vary based on the type of instrument and include relevant broker quotations. Valuation inputs and assumptions are changed when corroborated by substantive observable evidence, including values realized on sales of financial assets.

As of both December 2025 and December 2024, the Plan had no level 3 investment assets.

See Notes 3 and 5 for further information about investment assets and investment liabilities.

**Note 5.**

**Investment Assets and Investment Liabilities** 

**Fair Value of Investment Assets and Investment Liabilities by Level** 

The table below presents investment assets and investment liabilities of the Plan by level within the fair value hierarchy.

---

| | | | | |
|:---|:---|:---|:---|:---|
| *$ in thousands* | Level 1 | Level 2 | Level 3 | Total |
| **<u>As of December 2025</u>** |  |  |  |  |
| **Assets** |  |  |  |  |
| Bank deposit | $**266344** | $**–** | $**–** | $**266344** |
| Mutual funds | **1444423** | **–** | **–** | **1444423** |
| Collective trusts | **9251014** | **–** | **–** | **9251014** |
| Separately managed accounts: | Separately managed accounts: | Separately managed accounts: |  |  |
| &nbsp;&nbsp;Cash and cash equivalents | **2292** | **–** | **–** | **2292** |
| &nbsp;&nbsp;Resale agreements | **–** | **72300** | **–** | **72300** |
| &nbsp;&nbsp;Fixed income securities | **52714** | **159088** | **–** | **211802** |
| &nbsp;&nbsp;Common and preferred |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;stocks | **2722146** | **–** | **–** | **2722146** |
| &nbsp;&nbsp;Mutual funds | **95412** | **–** | **–** | **95412** |
| &nbsp;&nbsp;Real estate investment trusts | **259742** | **–** | **–** | **259742** |
| &nbsp;&nbsp;Commodities | **–** | **11472** | **–** | **11472** |
| &nbsp;&nbsp;Derivatives | **–** | **2792** | **–** | **2792** |
| **Total investment assets** | $**14094087** | $**245652** | $**–** | $**14339739** |
| **Liabilities** |  |  |  |  |
| Separately managed accounts: |  |  |  |  |
| &nbsp;&nbsp;Derivatives | $**–** | $**(54)** | $**–** | $**(54)** |
| **Total investment liabilities** | $**–** | $**(54)** | $**–** | $**(54)** |
| <u>As of December 2024</u> |  |  |  |  |
| **Assets** |  |  |  |  |
| Bank deposit | $268894 | $– | $– | $268894 |
| Mutual funds | 1264164 | – | – | 1264164 |
| Collective trusts | 7842009 | – | – | 7842009 |
| Separately managed accounts: | Separately managed accounts: | Separately managed accounts: |  |  |
| &nbsp;&nbsp;Cash and cash equivalents | 410 | – | – | 410 |
| &nbsp;&nbsp;Resale agreements | – | 83200 | – | 83200 |
| &nbsp;&nbsp;Fixed income securities | 82565 | 121271 | – | 203836 |
| &nbsp;&nbsp;Common and preferred |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;stocks | 2468185 | – | – | 2468185 |
| &nbsp;&nbsp;Mutual funds | 105443 | – | – | 105443 |
| &nbsp;&nbsp;Real estate investment trusts | 289889 | 563 | – | 290452 |
| &nbsp;&nbsp;Commodities | – | 30895 | – | 30895 |
| &nbsp;&nbsp;Derivatives | – | 704 | – | 704 |
| Total investment assets | $12321559 | $236633 | $– | $12558192 |
| **Liabilities** |  |  |  |  |
| Separately managed accounts: |  |  |  |  |
| &nbsp;&nbsp;Derivatives | $– | $(2) | $– | $(2) |
| Total investment liabilities | $– | $(2) | $– | $(2) |

---

------

THE GOLDMAN SACHS 401(k) PLAN

**Notes to Financial Statements**

In the table above:

**•** Investment assets are shown as positive amounts and investment liabilities are shown as negative amounts.

**•** Mutual funds within separately managed accounts consist of money market funds, exchange-traded funds and investments in funds that primarily consist of fixed income securities.

**Level 3 Rollforward**

The table below presents the changes in fair value for level 3 investment assets.

---

| | | |
|:---|:---|:---|
| | Year Ended December | Year Ended December |
| *$ in thousands* | **2025** | 2024 |
| **Common and preferred stocks** |  |  |
| Beginning balance | $**–** | $289 |
| Net unrealized gains/(losses) | **–** | (289) |
| **Ending balance** | $**–** | $– |

---

In the table above:

**•** Changes in fair value are presented for all investment assets that are classified in level 3 as of the end of the period.

**•** Net unrealized gains/(losses) relates to investment assets that were still held at period-end.

**•** For level 3 investment assets, increases are shown as positive amounts, while decreases are shown as negative amounts.

**Level 3 Rollforward Commentary**

**Year Ended December 2024.** There were no net realized gains/(losses) on level 3 investment assets for 2024. The net unrealized losses on level 3 investment assets of $0.3 million for 2024 were reported in net appreciation in the fair value of investments.

The drivers of net unrealized losses on level 3 investment assets for 2024 were not material.

There were no transfers into or out of level 3 investment assets during 2024.

**Note 6.**

**Related-Party and Party-In-Interest Transactions**

The Plan offers the *Stock Fund* as an investment option, which has substantially all of its investments in the firm's common stock. The *Stock Fund* is managed by State Street Global Advisors. As of December 2025, the Plan's interest in the *Stock Fund* represented 493,014 shares of the firm's common stock with a fair market value of $433.4 million. As of December 2024, the Plan's interest in the *Stock Fund* represented 501,941 shares of the firm's common stock with a fair market value of $287.4 million. Purchases of $12.8 million and sales of $4.9 million of the firm's common stock were made through the *Stock Fund* during 2025. Purchases of $8.8 million and sales of $8.6 million of the firm's common stock were made through the *Stock Fund* during 2024.

Goldman Sachs Asset Management, L.P. (GSAM L.P.), an affiliate of the firm, manages a laddered fixed income separately managed account investment option in the Plan. No fees were charged by GSAM L.P. to manage this separately managed account as of both December 2025 and December 2024.

GS Bank USA, an affiliate of the firm, has a deposit obligation to the Plan under the Plan's Bank Deposit Option. No fees were charged by GS Bank USA for this bank deposit obligation as of both December 2025 and December 2024.

**Note 7.**

**Plan Termination**

The firm intends to continue the Plan indefinitely, but reserves the right to discontinue or amend the Plan at any time, subject to the provisions of ERISA. In the event of discontinuance, affected participants will become fully vested in the *Firm Contributions* and the related investment income as required by ERISA.

**Note 8.**

**Income Tax Status**

The Internal Revenue Service has determined, and informed the firm by a letter dated November 17, 2025, that the terms of the Plan conform to the requirements of section 401(a) of the Internal Revenue Code of 1986, as amended.

------

THE GOLDMAN SACHS 401(k) PLAN

**Notes to Financial Statements**

**Note 9.**

**Reconciliation of Financial Statements to the Form 5500**

The tables below present the reconciliations from the Plan's financial statements to the Form 5500.

---

| | | |
|:---|:---|:---|
| | As of December | As of December |
| *$ in thousands* | **2025** | 2024 |
| Net assets available for benefits, per statements |  |  |
| &nbsp;&nbsp;of net assets available for benefits | $**14588024** | $12760943 |
| Amounts allocated to withdrawing participants | **(3213)** | (2806) |
| **Net assets, per the Form 5500** | $**14584811** | $12758137 |
|  | As of December | As of December |
| *$ in thousands* | **2025** | 2024 |
| Benefits paid, per statements of changes in |  |  |
| &nbsp;&nbsp;net assets available for benefits | $**847073** | $951085 |
| Amounts allocated to withdrawing participants, |  |  |
| &nbsp;&nbsp;ending balance | **3213** | 2806 |
| Amounts allocated to withdrawing participants, |  |  |
| &nbsp;&nbsp;beginning balance | **(2806)** | (48158) |
| **Benefits paid to participants and certain** |  |  |
| &nbsp;&nbsp;**deemed distributions of participant loans,** |  |  |
| &nbsp;&nbsp;**per the Form 5500** | $**847480** | $905733 |

---

Amounts allocated to withdrawing participants are recorded on the Form 5500 for benefit claims that have been processed and approved for payment prior to both December 2025 and December 2024, but had not yet been paid as of that date.

**Note 10.**

**Financial Instruments with Off-Balance Sheet Risk** 

In accordance with the investment strategy of the separately managed accounts, the Plan's investment managers execute transactions in various financial instruments that may give rise to varying degrees of off-balance sheet market and credit risk, including investment liabilities. These investment liabilities involve obligations to deliver specified securities at contracted prices and thereby create a liability to purchase the securities at prevailing future market prices. Accordingly, these transactions result in off-balance sheet risk as the Plan's ultimate obligation to satisfy the sale of investment liabilities may exceed the amount recognized in the financial statements.

Derivatives are instruments that derive their value from underlying asset prices, indices, reference rates and other inputs, or a combination of these factors. Derivatives may be traded on an exchange (exchange-traded) or they may be privately negotiated contracts, which are usually referred to as over-the-counter (OTC) derivatives.

The Plan enters into various types of derivatives, including:

**• Futures and Forwards.** Contracts that commit counterparties to purchase or sell financial instruments, commodities or currencies in the future.

**• Swaps.** Contracts that require counterparties to exchange cash flows, such as currency or interest payment streams. The amounts exchanged are based on the specific terms of the contract with reference to specified rates, financial instruments, commodities, currencies or indices.

**• Options.** Contracts in which the option purchaser has the right, but not the obligation, to purchase from or sell to the option writer financial instruments, commodities or currencies within a defined time period for a specified price.

As a writer of option contracts, the Plan receives a premium to become obligated to buy or sell financial instruments for a period of time at the holder's option. During this period, the Plan bears the risk of an unfavorable change in the fair value of the financial instrument underlying the option, but has no credit risk, as the counterparty has no performance obligation to the Plan once it has paid its cash premium.

Derivatives are recorded on a gross basis in the statements of net assets available for benefits and are accounted for at fair value.

**Risk Management**

Market risk includes risk that arises from the potential for changes in value of financial instruments resulting from fluctuations in interest and foreign exchange rates, in prices of commodities, and in prices of debt and equity securities. In many cases, these financial instruments serve to reduce, rather than increase, the Plan's exposure to losses from market or other risks. In addition, the measurement of market risk is meaningful only when all related and offsetting transactions are identified. The investment managers may limit the Plan's market risk by holding or purchasing offsetting positions.

The Plan is subject to credit risk of counterparty nonperformance on derivative assets, except for written options, which obligate the Plan to perform and do not give rise to any counterparty credit risk.

------

THE GOLDMAN SACHS 401(k) PLAN

**Notes to Financial Statements**

The tables below present information about derivative contracts by major product type.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | Fair Value as of December | Fair Value as of December | Fair Value as of December | Fair Value as of December |
| | **2025** | **2025** | 2024 | 2024 |
| *$ in thousands* | **Derivative<br>Assets** | **Derivative<br>Liabilities** | Derivative<br>Assets | Derivative<br>Liabilities |
| Interest rates | $**–** | $**30** | $68 | $– |
| Commodities | **222** | **–** | 292 | 2 |
| Equities | **2570** | **24** | 344 | – |
| **Total gross fair value** | $**2792** | $**54** | $704 | $2 |
| **Not offset in the statements of net assets available for benefits** | **Not offset in the statements of net assets available for benefits** | **Not offset in the statements of net assets available for benefits** | **Not offset in the statements of net assets available for benefits** | **Not offset in the statements of net assets available for benefits** |
| Counterparty netting | $**(24)** | $**(24)** | $(2) | $(2) |
| Cash collateral netting | **(2768)** | **(30)** | (702) | – |
| **Total** | $**–** | $**–** | $– | $– |

---

---

| | | |
|:---|:---|:---|
| | Notional Amounts as of December | Notional Amounts as of December |
| *$ in thousands* | **2025** | 2024 |
| Interest rates | $**127220** | $85638 |
| Commodities | **79944** | 117891 |
| Equities | **132966** | 128447 |
| **Total** | $**340130** | $331976 |

---

In the tables above:

**•** The amount of derivative assets and liabilities reported on the statements of net assets available for benefits is the gross fair value and excludes the impact of any legally enforceable master netting agreements and cash collateral held by the Plan.

**•** Notional amounts, which represent the sum of gross long and short derivative contracts, provide an indication of the volume of the Plan's derivative activity and do not represent anticipated losses.

The table below presents the net appreciation/(depreciation) in the fair value of derivatives (including gains and losses on derivatives bought and sold, as well as held during the year) by major product type.

---

| | | |
|:---|:---|:---|
| | Year Ended December | Year Ended December |
| *$ in thousands* | **2025** | 2024 |
| Interest rates | $**38** | $(1683) |
| Credit | **–** | 65 |
| Currencies | **–** | 480 |
| Commodities | **(6206)** | (1274) |
| Equities | **6113** | (1327) |
| **Total** | $**(55)** | $(3739) |

---

**Credit Derivatives**

The Plan's investment managers enter into various credit derivative transactions.

The Plan may enter into credit default swaps. Single-name credit default swaps protect the buyer against the loss of principal on one or more bonds, loans or mortgages (reference obligations) in the event the issuer of the reference obligations suffers a credit event. The buyer of protection pays an initial or periodic premium to the seller and receives protection for the period of the contract. If there is no credit event, as defined in the contract, the seller of protection makes no payments to the buyer. If a credit event occurs, the seller of protection is required to make a payment to the buyer, calculated according to the terms of the contract.

The Plan had no written or purchased credit derivative transactions as of both December 2025 and December 2024.

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Held at End of Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | |
| **rate of interest, collateral, par, or maturity value** | **Shares / Par Value** | **Current Value** |
| **Bank Deposit** | | |
| \*GOLDMAN SACHS BANK USA BANK DEPOSIT ACCOUNT | **266344052** | $**266344052** |
| **Total Bank Deposit** |  | $**266344052** |
| **Mutual Funds** |  |  |
| AMERICAN FUNDS AMERICAN HIGH-INCOME TRUST | **23020834** | $**228366669** |
| DODGE & COX INTERNATIONAL STOCK FUND | **7329631** | **120645723** |
| RBC EMERGING MARKETS EQUITY FUND | **5706826** | **97358446** |
| SSGA HEDGED INTERNATIONAL DEVELOPED EQUITY INDEX FUND | **1150769** | **165273458** |
| VANGUARD CASH RESERVES FEDERAL MONEY MARKET | **712373670** | **712373670** |
| VANGUARD INFLATION-PROTECTED SECURITIES FUND | **12863808** | **120405240** |
| **Total Mutual Funds** |  | $**1444423206** |
| **Collective Trusts** |  |  |
| BLACKROCK 20+ YR TREASURY BOND INDEX FUND | **1922673** | $**74119831** |
| BLACKROCK EQUITY GROWTH INDEX FUND | **7849241** | **788825974** |
| BLACKROCK EQUITY VALUE INDEX FUND | **5921518** | **432019724** |
| BLACKROCK LIFEPATH® 2030 INDEX NON-LENDABLE FUND | **4998483** | **222206070** |
| BLACKROCK LIFEPATH® 2035 INDEX NON-LENDABLE FUND | **6438261** | **328162026** |
| BLACKROCK LIFEPATH® 2040 INDEX NON-LENDABLE FUND | **7419075** | **427252661** |
| BLACKROCK LIFEPATH® 2045 INDEX NON-LENDABLE FUND | **9196270** | **589736588** |
| BLACKROCK LIFEPATH® 2050 INDEX NON-LENDABLE FUND | **8158907** | **566697303** |
| BLACKROCK LIFEPATH® 2055 INDEX NON-LENDABLE FUND | **12349469** | **630370011** |
| BLACKROCK LIFEPATH® 2060 INDEX NON-LENDABLE FUND | **11140218** | **324110147** |
| BLACKROCK LIFEPATH® 2065 INDEX NON-LENDABLE FUND | **1553823** | **32211684** |
| BLACKROCK LIFEPATH® RETIREMENT INDEX NON-LENDABLE FUND | **6824025** | **203658935** |
| BLACKROCK MSCI EAFE EQUITY INDEX NON-LENDABLE FUND | **4266310** | **192828265** |
| FIDELITY INSTITUTIONAL ASSET MANAGEMENT CORE PLUS | **5350926** | **132328400** |
| SSGA EMERGING MARKETS INDEX NON-LENDING SERIES FUND | **4426859** | **216114841** |
| SSGA RUSSELL 2000® INDEX NON-LENDING SERIES FUND | **6551692** | **348117577** |
| SSGA S&P 500® INDEX NON-LENDING SERIES FUND | **276778363** | **3293385737** |
| SSGA S&P MIDCAP® INDEX NON-LENDING SERIES FUND | **4993880** | **354845144** |
| SSGA U.S. BOND INDEX NON-LENDING SERIES FUND | **7800831** | **94023411** |
| **Total Collective Trusts** |  | $**9251014329** |
| **Separately Managed Accounts** |  |  |
| **Cash and Cash Equivalents** |  |  |
| ARS (ARGENTINE PESO) | **12560** | $**9** |
| CAD (CANADIAN DOLLARS) | **12012** | **8763** |
| CHF (SWISS FRANC) | **7022** | **8863** |
| EUR (EURO) | **451110** | **529807** |
| GBP (GREAT BRITISH POUNDS) | **114941** | **154601** |
| HKD (HONG KONG DOLLARS) | **66** | **9** |
| KRW (SOUTH KOREAN WON) | **20** | **–** |
| PHP (PHILIPPINES PESO) | **676** | **11** |
| SGD (SINGAPORE DOLLARS) | **561** | **436** |
| THB (THAI BAHT) | **100** | **3** |
| USD (US DOLLAR) | **1589792** | **1589498** |
| **Total Cash and Cash Equivalents** |  | $**2292000** |
| **Securities Purchased Under Agreements to Resell** |  |  |
| J P MORGAN CHASE REV REPO 3.900% 01/02/26 DD 12/31/25 | **61900000** | $**61900000** |
| REGIONS BANK REV REPO 3.930% 01/02/26 DD 12/31/25 | **10400000** | **10400000** |
| **Total Securities Purchased Under Agreements to Resell** |  | $**72300000** |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Held at End of Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | |
| **rate of interest, collateral, par, or maturity value** | **Shares / Par Value** | **Current Value** |
| **Fixed Income Securities** | | |
| 1988 CLO 5 LTD 5A A1 144A VAR RT 07/15/37 DD 06/27/24 | **450000** | $**450000** |
| 7-ELEVEN INC 144A 0.950% 02/10/26 DD 02/10/21 | **125000** | **124558** |
| AB BSL CLO 6 LTD 6A A 144A VAR RT 07/20/37 DD 06/26/25 | **975000** | **977681** |
| ABBVIE INC 2.950% 11/21/26 DD 05/21/20 | **750000** | **744215** |
| ABBVIE INC 4.800% 03/15/27 DD 02/26/24 | **2135000** | **2157553** |
| AIR LEASE CORP 1.875% 08/15/26 DD 05/24/21 | **550000** | **541871** |
| ALLY FINANCIAL INC VAR RT 05/15/29 DD 05/15/25 | **159000** | **163087** |
| AMERICAN EXPRESS CO VAR RT 07/20/29 DD 07/25/25 | **1298000** | **1307923** |
| AMERICAN EXPRESS CO VAR RT 07/26/28 DD 07/26/24 | **600000** | **610208** |
| AMERICAN EXPRESS CREDIT AC 1 A 4.870% 05/15/28 DD 06/14/23 | **500000** | **501830** |
| AMERICAN EXPRESS CREDIT AC 3 A 4.650% 07/15/29 DD 07/23/24 | **500000** | **506883** |
| AMERICAN TOWER CORP 3.375% 10/15/26 DD 05/13/16 | **275000** | **273552** |
| AMGEN INC 2.600% 08/19/26 DD 08/19/16 | **700000** | **694602** |
| AMORTIZING RESIDENTIAL CO 1 A5 VAR RT 10/25/34 DD 09/25/04 | **109640** | **108479** |
| APIDOS CLO XXIII 23A ARR 144A VAR RT 04/15/33 DD 03/26/25 | **1211362** | **1211362** |
| ARTHUR J GALLAGHER & CO 4.850% 12/15/29 DD 12/19/24 | **675000** | **691034** |
| AVOLON HOLDINGS FUNDING LTD 144A 6.375% 05/04/28 DD 05/04/23 | **935000** | **974473** |
| BA CREDIT CARD TRUST A1 A1 4.790% 05/15/28 DD 06/16/23 | **500000** | **501668** |
| BAIN CAPITAL CREDIT 3A A1 144A VAR RT 07/16/37 DD 06/27/24 | **1200000** | **1200000** |
| BANCO SANTANDER SA VAR RT 03/24/28 DD 03/24/22 | **1000000** | **1000444** |
| BANK OF AMERICA CORP VAR RT 01/20/27 DD 01/20/23 | **2190000** | **2191088** |
| BANK OF AMERICA CORP VAR RT 01/24/29 DD 01/24/25 | **1774000** | **1807693** |
| BANK OF AMERICA CORP VAR RT 09/15/27 DD 09/15/23 | **300000** | **303890** |
| BANK OF MONTREAL VAR RT 01/22/27 DD 01/22/21 | **1030000** | **1028003** |
| BANK OF MONTREAL VAR RT 09/10/27 DD 09/10/24 | **100000** | **100280** |
| BANK OF NOVA SCOTIA/THE 4.750% 02/02/26 DD 02/02/23 | **1625000** | **1626072** |
| BANK OF NOVA SCOTIA/THE 5.400% 06/04/27 DD 06/04/24 | **500000** | **510601** |
| BANK5 2024-5YR11 5YR11 A3 5.893% 11/15/57 DD 11/01/24 | **350000** | **368126** |
| BANK5 2024-5YR9 5YR9 A3 5.614% 08/15/57 DD 08/01/24 | **525000** | **546689** |
| BANK5 2025-5YR14 5YR14 A3 5.646% 04/15/58 DD 04/01/25 | **525000** | **549427** |
| BANK5 2025-5YR16 5YR16 A3 5.282% 08/15/63 DD 08/01/25 | **300000** | **310046** |
| BANK5 2025-5YR17 5YR17 A3 5.225% 11/15/58 DD 10/01/25 | **600000** | **619141** |
| BANK5 2025-5YR19 5YR19 A3 5.270% 12/15/58 DD 12/01/25 | **700000** | **723843** |
| BARCLAYS DRYROCK ISSUANCE 1 A 4.720% 02/15/29 DD 04/25/23 | **700000** | **701628** |
| BARCLAYS PLC VAR RT 03/12/28 DD 03/12/24 | **200000** | **203586** |
| BARCLAYS PLC VAR RT 05/09/27 DD 05/09/23 | **1235000** | **1241983** |
| BARCLAYS PLC VAR RT 09/10/28 DD 09/10/24 | **970000** | **981516** |
| BARCLAYS PLC VAR RT 09/13/27 DD 09/13/23 | **200000** | **203124** |
| BARCLAYS PLC VAR RT 11/24/27 DD 11/24/21 | **764000** | **751697** |
| BAT CAPITAL CORP 3.557% 08/15/27 DD 08/15/18 | **1337000** | **1326922** |
| BENCHMARK 2021-B28 MORTGAGE TRUST B28 ASB 1.980% 08/15/54 DD 08/01/21 | **300000** | **281551** |
| BENCHMARK 2024-V7 MORTGAGE TRUST V7 A3 VAR RT 05/15/56 DD 05/01/24 | **350000** | **369557** |
| BENCHMARK 2024-V8 MORTGAGE TRUST V8 A3 VAR RT 07/15/57 DD 07/01/24 | **400000** | **422599** |
| BFLD COMMERCIAL MORTGAGE 660F A 144A VAR RT 11/15/42 DD 10/31/25 | **650000** | **651828** |
| BOEING CO/THE 2.750% 02/01/26 DD 11/02/20 | **490000** | **489424** |
| BPCE SA 144A 3.250% 01/11/28 DD 01/11/18 | **365000** | **358991** |
| BROADCOM INC 1.950% 02/15/28 DD 08/15/25 | **720000** | **691292** |
| BROADCOM INC 5.050% 07/12/27 DD 07/12/24 | **1670000** | **1700087** |
| BX TRUST 2021-BXMF BXMF A 144A VAR RT 10/15/26 DD 11/08/21 | **286490** | **286061** |
| BX TRUST 2025-ROIC ROIC A 144A VAR RT 03/15/30 DD 02/27/25 | **747086** | **746153** |
| CAMPBELL'S COMPANY/THE 2.375% 04/24/30 DD 04/24/20 | **755000** | **694874** |
| CAMPBELL'S COMPANY/THE 5.200% 03/19/27 DD 03/21/24 | **495000** | **501489** |
| CANADIAN IMPERIAL BANK OF COMMERCE 5.615% 07/17/26 DD 07/17/23 | **780000** | **787148** |
| CAPITAL ONE FINANCIAL CORP VAR RT 05/10/28 DD 05/09/22 | **970000** | **981558** |
| CARDINAL HEALTH INC 4.700% 11/15/26 DD 11/22/24 | **1438000** | **1447293** |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Held at End of Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | |
| **rate of interest, collateral, par, or maturity value** | **Shares / Par Value** | **Current Value** |
| CARMAX AUTO OWNER TRUST 2 3 A3 4.350% 07/15/30 DD 07/23/25 | **500000** | **504406** |
| CARMAX AUTO OWNER TRUST 2 4 A3 5.340% 08/16/27 DD 10/31/22 | **120020** | **120362** |
| CARMAX AUTO OWNER TRUST 3 A2A 5.210% 09/15/27 DD 07/30/24 | **111739** | **111958** |
| CARVAL CLO XI C LTD 3A A1 144A VAR RT 10/20/37 DD 09/25/24 | **1000000** | **1000000** |
| CARVANA AUTO RECEIVABLES P4 A2 4.190% 03/12/29 DD 11/25/25 | **500000** | **500917** |
| CARVANA AUTO RECEIVABLES P4 A3 4.640% 01/10/30 DD 12/17/24 | **500000** | **503046** |
| CATERPILLAR FINANCIAL SERVICES 4.800% 01/06/26 DD 01/06/23 | **910000** | **910082** |
| CHASE MORTGAGE FINANCE A1 1A1 VAR RT 02/25/37 DD 02/01/07 | **6611** | **6650** |
| CITIBANK NA 4.929% 08/06/26 DD 08/06/24 | **300000** | **301582** |
| CITIBANK NA 5.438% 04/30/26 DD 04/30/24 | **400000** | **401528** |
| CITIBANK NA 5.488% 12/04/26 DD 12/04/23 | **250000** | **253320** |
| CITIBANK NA VAR RT 11/19/27 DD 11/19/24 | **860000** | **866256** |
| CITIGROUP INC VAR RT 03/04/29 DD 03/04/25 | **1627000** | **1650787** |
| CITIGROUP INC VAR RT 06/09/27 DD 06/09/21 | **895000** | **884773** |
| CITIGROUP INC VAR RT 07/24/28 DD 07/24/17 | **259000** | **257384** |
| CITIGROUP INC VAR RT 10/27/28 DD 10/27/17 | **710000** | **703765** |
| COMM 2024-277P MOR 277P A 144A 6.338% 08/10/44 DD 08/01/24 | **450000** | **474301** |
| COREBRIDGE GLOBAL FUNDING 144A 4.250% 08/21/28 DD 08/21/25 | **690000** | **691999** |
| CROWN CASTLE INC 4.800% 09/01/28 DD 04/26/23 | **965000** | **979347** |
| CVS HEALTH CORP 5.000% 02/20/26 DD 02/21/23 | **760000** | **760290** |
| DELL INTERNATIONAL LLC / EMC C 6.020% 06/15/26 DD 06/15/21 | **78000** | **78341** |
| DEUTSCHE BANK AG/NEW YORK NY VAR RT 01/10/29 DD 01/10/25 | **612000** | **624752** |
| DIAMONDBACK ENERGY INC 5.200% 04/18/27 DD 04/18/24 | **825000** | **837004** |
| DOMINION ENERGY INC 4.600% 05/15/28 DD 05/13/25 | **444000** | **449381** |
| DRYDEN 80 CLO LTD 80A ARR 144A VAR RT 01/17/33 DD 09/09/25 | **1367709** | **1367709** |
| ECMC GROUP STUDENT LOAN 2A A 144A VAR RT 09/25/68 DD 10/10/18 | **351231** | **348675** |
| EXETER AUTOMOBILE RECEIVABLES 1A A2 4.700% 09/15/27 DD 01/29/25 | **26856** | **26860** |
| EXETER AUTOMOBILE RECEIVABLES 1A A3 4.670% 08/15/28 DD 01/29/25 | **150000** | **150264** |
| EXETER SELECT AUTOMOBILE 2 A2 4.540% 06/15/29 DD 07/30/25 | **486194** | **487848** |
| FHLMC MULTICLASS MTG 3179 FP VAR RT 07/15/36 DD 07/15/06 | **2299** | **2280** |
| FHLMC MULTICLASS MTG 4594 PA 3.000% 11/15/44 DD 06/01/16 | **91153** | **88527** |
| FHLMC MULTICLASS MTG 4604 HA 2.500% 05/15/45 DD 08/01/16 | **95475** | **89910** |
| FHLMC MULTICLASS MTG 4709 EA 3.000% 01/15/46 DD 08/01/17 | **100176** | **97439** |
| FHLMC MULTICLASS MTG 4718 DA 3.000% 02/15/47 DD 09/01/17 | **92595** | **87552** |
| FHLMC MULTICLASS MTG 4839 A 4.000% 04/15/51 DD 10/01/18 | **2342763** | **2261242** |
| FHLMC MULTICLASS MTG 4874 AT 3.000% 09/15/48 DD 03/01/19 | **106171** | **96032** |
| FHLMC MULTICLASS MTG 5473 FA VAR RT 11/25/54 DD 10/25/24 | **384049** | **384790** |
| FHLMC MULTICLASS MTG 5495 AF VAR RT 01/25/55 DD 12/25/24 | **81938** | **82198** |
| FHLMC MULTICLASS MTG 5517 MF VAR RT 03/25/55 DD 02/25/25 | **359131** | **360738** |
| FHLMC MULTICLASS MTG 5564 PF VAR RT 08/25/55 DD 07/25/25 | **883136** | **887256** |
| FHLMC MULTICLASS MTG 5565 FA VAR RT 08/25/55 DD 07/25/25 | **567240** | **569486** |
| FHLMC MULTICLASS MTG Q034 APT2 VAR RT 07/25/54 DD 06/01/25 | **488448** | **475757** |
| FHLMC MULTICLASS STRIP 278 F1 VAR RT 09/15/42 DD 09/15/12 | **31100** | **30712** |
| FHLMC POOL #SD-8475 5.500% 10/01/54 DD 10/01/24 | **2188810** | **2221242** |
| FHLMC POOL #SL-3027 5.500% 01/01/55 DD 10/01/25 | **2333919** | **2392012** |
| FHLMC POOL #SL-3113 5.500% 07/01/55 DD 10/01/25 | **2394031** | **2433177** |
| FIFTH THIRD BANCORP VAR RT 10/27/28 DD 10/27/22 | **1095000** | **1139324** |
| FISERV INC 5.375% 08/21/28 DD 08/21/23 | **950000** | **974480** |
| FNMA GTD REMIC P/T 06-30 KF VAR RT 05/25/36 DD 04/25/06 | **10928** | **10853** |
| FNMA GTD REMIC P/T 15-92 PA 2.500% 12/25/41 DD 11/01/15 | **32864** | **30973** |
| FNMA GTD REMIC P/T 18-27 WF VAR RT 05/25/58 DD 04/01/18 | **317717** | **312405** |
| FNMA GTD REMIC P/T 24-104 FA VAR RT 01/25/55 DD 12/25/24 | **81776** | **81986** |
| FNMA GTD REMIC P/T 25-4 FB VAR RT 12/25/53 DD 01/25/25 | **612244** | **614358** |
| FNMA POOL #0555678 5.000% 08/01/33 DD 07/01/03 | **198470** | **201261** |
| FNMA POOL #0735676 5.000% 07/01/35 DD 06/01/05 | **68396** | **69497** |
| FNMA POOL #0AB0130 5.000% 05/01/38 DD 05/01/09 | **20715** | **21048** |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Held at End of Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | |
| **rate of interest, collateral, par, or maturity value** | **Shares / Par Value** | **Current Value** |
| FNMA POOL #0AL1674 VAR RT 05/01/42 DD 05/01/12 | **9068** | **9478** |
| FNMA POOL #0AL5548 VAR RT 05/01/38 DD 07/01/14 | **18951** | **19731** |
| FNMA POOL #0BL6406 1.630% 05/01/27 DD 06/01/20 | **600000** | **582329** |
| FNMA POOL #0BM2007 4.000% 09/01/48 DD 08/01/18 | **101371** | **98081** |
| FNMA POOL #0BN5342 4.000% 03/01/49 DD 03/01/19 | **129651** | **125278** |
| FORD CREDIT AUTO LEASE TRUST A A3 4.720% 06/15/28 DD 01/27/25 | **1225000** | **1235332** |
| FORD CREDIT AUTO LEASE TRUST B A2B VAR RT 02/15/27 DD 07/23/24 | **89911** | **89915** |
| FORD MOTOR CREDIT CO LLC 5.850% 05/17/27 DD 05/17/24 | **425000** | **431511** |
| GE HEALTHCARE TECHNOLOGIES INC 5.650% 11/15/27 DD 05/15/23 | **800000** | **823719** |
| GENERAL MOTORS CO 5.350% 04/15/28 DD 05/07/25 | **1121000** | **1148602** |
| GENERAL MOTORS FINANCIAL CO INC 5.800% 06/23/28 DD 06/23/23 | **945000** | **979527** |
| GLENCORE FUNDING LLC 144A 4.907% 04/01/28 DD 04/01/25 | **1238000** | **1259008** |
| GLOBAL PAYMENTS INC 3.200% 08/15/29 DD 08/14/19 | **520000** | **496217** |
| GM FINANCIAL AUTOMOBILE LEASE 1 A3 4.660% 02/21/28 DD 02/12/25 | **500000** | **504105** |
| GM FINANCIAL AUTOMOBILE LEASE 1 A3 5.090% 03/22/27 DD 02/15/24 | **380803** | **381664** |
| GM FINANCIAL CONSUMER AUTOMOBILE 1 A3 4.620% 12/17/29 DD 01/15/25 | **800000** | **808259** |
| GNMA GTD REMIC P/T 16-H20 FG VAR RT 08/20/66 DD 09/20/16 | **1493** | **1497** |
| GNMA GTD REMIC P/T 17-H05 FC VAR RT 02/20/67 DD 02/20/17 | **373281** | **374406** |
| GNMA GTD REMIC P/T 18-H15 FG VAR RT 08/20/68 DD 09/20/18 | **40110** | **40356** |
| GNMA GTD REMIC P/T 19-H20 F VAR RT 12/20/69 DD 12/20/19 | **381702** | **384887** |
| GNMA GTD REMIC P/T 24-H04 FA VAR RT 02/20/74 DD 03/20/24 | **546378** | **545741** |
| GNMA GTD REMIC P/T 24-H07 FC VAR RT 02/20/74 DD 04/20/24 | **297571** | **297466** |
| GNMA GTD REMIC P/T 25-204 FH VAR RT 12/20/55 DD 12/20/25 | **1300000** | **1301772** |
| GNMA II POOL #0MA1376 4.000% 10/20/43 DD 10/01/13 | **175991** | **170733** |
| GNMA II POOL #0MA5332 5.000% 07/20/48 DD 07/01/18 | **346721** | **351708** |
| GNMA II POOL #0MA5530 5.000% 10/20/48 DD 10/01/18 | **184893** | **188354** |
| GNMA II POOL #0MA5596 4.500% 11/20/48 DD 11/01/18 | **15325** | **15205** |
| GNMA II POOL #0MA5711 4.500% 01/20/49 DD 01/01/19 | **8451** | **8389** |
| GNMA II POOL #0MA5764 4.500% 02/20/49 DD 02/01/19 | **33703** | **33433** |
| GNMA II POOL #0MA5818 4.500% 03/20/49 DD 03/01/19 | **44961** | **44600** |
| GNMA II POOL #0MA5819 5.000% 03/20/49 DD 03/01/19 | **15973** | **16228** |
| GNMA II POOL #0MA5877 4.500% 04/20/49 DD 04/01/19 | **66043** | **65767** |
| GNMA II POOL #0MA5987 4.500% 06/20/49 DD 06/01/19 | **22908** | **22813** |
| GNMA II POOL #0MA5988 5.000% 06/20/49 DD 06/01/19 | **485867** | **494045** |
| GOLUB CAPITAL PARTNERS 74A A 144A VAR RT 07/25/37 DD 06/20/24 | **825000** | **825000** |
| HCA INC 5.000% 03/01/28 DD 02/21/25 | **680000** | **692867** |
| HCA INC 5.625% 09/01/28 DD 08/23/18 | **375000** | **386951** |
| HSBC HOLDINGS PLC VAR RT 03/03/29 DD 03/03/25 | **485000** | **492221** |
| HUDSON YARDS 2025- SPRL A 144A VAR RT 01/13/40 DD 01/01/25 | **525000** | **544672** |
| HYUNDAI AUTO RECEIVABLES A A3 4.990% 02/15/29 DD 03/20/24 | **698189** | **704168** |
| IMPERIAL BRANDS FINANCE PLC 144A 4.500% 06/30/28 DD 07/01/25 | **975000** | **983164** |
| INTERNATIONAL BUSINESS MACHINE 4.650% 02/10/28 DD 02/10/25 | **600000** | **608936** |
| INTERNATIONAL FLAVORS & FRAGRANCES 4.450% 09/26/28 DD 09/26/18 | **875000** | **881409** |
| JPMORGAN CHASE & CO VAR RT 01/23/28 DD 01/23/24 | **555000** | **560794** |
| JPMORGAN CHASE & CO VAR RT 01/24/29 DD 01/24/25 | **1579000** | **1608870** |
| JPMORGAN CHASE & CO VAR RT 09/22/27 DD 09/22/21 | **875000** | **859082** |
| KRE COMMERCIAL MORTGAGE AIP4 A 144A VAR RT 03/15/42 DD 03/18/25 | **700000** | **699126** |
| M&T BANK AUTO RECEIVABLE 1A A2A 144A 4.630% 05/15/28 DD 02/12/25 | **712101** | **713736** |
| MANUFACTURERS & TRADERS TRUST VAR RT 07/06/28 DD 06/17/25 | **837000** | **844712** |
| MARS INC 144A 4.600% 03/01/28 DD 03/12/25 | **1872000** | **1898144** |
| MASSACHUSETTS EDUCATIONAL 1 A1 VAR RT 04/25/38 DD 07/02/08 | **53794** | **53938** |
| MERCEDES-BENZ AUTOMOBILE LEASE A A3 5.320% 01/18/28 DD 05/23/24 | **450000** | **454374** |
| MERRILL LYNCH MORTGAGE INVESTORS E A1 VAR RT 11/25/29 DD 09/23/04 | **26089** | **22922** |
| MITSUBISHI UFJ FINANCIAL GROUP VAR RT 07/20/27 DD 07/20/21 | **490000** | **483163** |
| MIZUHO BANK LTD/NEW YORK NY VAR RT 06/02/26 DD 11/20/25 | **1500000** | **1500000** |
| MONDELEZ INTERNATIONAL INC 4.250% 05/06/28 DD 05/06/25 | **994000** | **999586** |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Held at End of Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | |
| **rate of interest, collateral, par, or maturity value** | **Shares / Par Value** | **Current Value** |
| MORGAN STANLEY BANK NA 5.882% 10/30/26 DD 11/01/23 | **600000** | **609032** |
| MORGAN STANLEY MORTGAGE 11AR 1A1 VAR RT 01/25/35 DD 12/29/04 | **33846** | **32357** |
| MORGAN STANLEY VAR RT 01/21/28 DD 01/24/22 | **1000000** | **983757** |
| MORGAN STANLEY VAR RT 01/28/27 DD 01/19/23 | **2254000** | **2255557** |
| MORGAN STANLEY VAR RT 04/12/29 DD 04/17/25 | **871000** | **888527** |
| MPLX LP 1.750% 03/01/26 DD 08/18/20 | **575000** | **572734** |
| NATIONAL BK KUWAIT C/D 4.170% 03/17/26 DD 11/17/25 | **1308000** | **1308043** |
| NEXTERA ENERGY CAPITAL HOLDING 1.875% 01/15/27 DD 12/13/21 | **274000** | **268226** |
| NEXTERA ENERGY CAPITAL HOLDING 4.625% 07/15/27 DD 06/23/22 | **810000** | **818805** |
| NISOURCE INC 3.490% 05/15/27 DD 05/22/17 | **112000** | **111289** |
| NTT FINANCE CORP 144A 4.620% 07/16/28 DD 07/16/25 | **970000** | **983230** |
| NXP BV / NXP FUNDING LLC / NXP 3.875% 06/18/26 DD 12/18/21 | **500000** | **499460** |
| NXP BV / NXP FUNDING LLC / NXP 4.400% 06/01/27 DD 05/16/22 | **340000** | **341518** |
| ORACLE CORP 2.300% 03/25/28 DD 03/24/21 | **2412000** | **2300762** |
| O'REILLY AUTOMOTIVE INC 5.750% 11/20/26 DD 11/20/23 | **1495000** | **1515208** |
| PARK BLUE CLO 2024- 5A A1 144A VAR RT 07/25/37 DD 06/27/24 | **700000** | **700000** |
| PENSKE TRUCK LEASING CO LP 144A 5.250% 07/01/29 DD 06/21/24 | **830000** | **853337** |
| PENSKE TRUCK LEASING CO LP 144A 5.350% 01/12/27 DD 01/12/24 | **215000** | **217468** |
| PNC FINANCIAL SERVICES GROUP INC VAR RT 01/26/27 DD 01/24/23 | **935000** | **935379** |
| PROTECTIVE LIFE GLOBAL FUND 144A 5.209% 04/14/26 DD 04/14/23 | **2150000** | **2156498** |
| QUANTA SERVICES INC 4.750% 08/09/27 DD 08/09/24 | **1419000** | **1436450** |
| RAD CLO 25 LTD 25A A1 144A VAR RT 07/20/37 DD 06/27/24 | **825000** | **825000** |
| REVVITY INC 1.900% 09/15/28 DD 09/10/21 | **355000** | **333965** |
| RIO TINTO FINANCE USA PLC 4.500% 03/14/28 DD 03/14/25 | **783000** | **792268** |
| ROCHE HOLDINGS INC 144A 5.265% 11/13/26 DD 11/13/23 | **495000** | **500536** |
| ROCK TRUST 2024-CN CNTR A 144A 5.388% 11/13/41 DD 10/01/24 | **750000** | **771003** |
| ROYAL BANK OF CANADA VAR RT 07/23/27 DD 07/23/24 | **500000** | **502775** |
| ROYAL BANK OF CANADA VAR RT 08/06/29 DD 08/06/25 | **1095000** | **1105945** |
| ROYAL BANK OF CANADA VAR RT 10/18/28 DD 10/18/24 | **1880000** | **1898623** |
| SANTANDER DRIVE AUTO RECEIVABLES 1 A2 4.760% 08/16/27 DD 01/22/25 | **28845** | **28851** |
| SANTANDER DRIVE AUTO RECEIVABLES 1 A3 4.740% 01/16/29 DD 01/22/25 | **400000** | **400870** |
| SANTANDER DRIVE AUTO RECEIVABLES 1 A3 5.250% 04/17/28 DD 01/18/24 | **79292** | **79342** |
| SANTANDER DRIVE AUTO RECEIVABLES 2 A3 4.670% 08/15/29 DD 03/26/25 | **500000** | **502738** |
| SANTANDER DRIVE AUTO RECEIVABLES 3 A2 4.630% 10/16/28 DD 07/30/25 | **431941** | **433260** |
| SANTANDER DRIVE AUTO RECEIVABLES 3 A3 4.380% 01/15/30 DD 07/30/25 | **500000** | **502428** |
| SANTANDER DRIVE AUTO RECEIVABLES 6 A3 5.930% 07/17/28 DD 11/21/23 | **211065** | **211715** |
| SANTANDER UK GROUP HOLDINGS PLC VAR RT 09/11/30 DD 09/11/24 | **685000** | **693533** |
| SBA GTD PARTN CTFS 2008-20G 1 5.870% 07/01/28 DD 07/16/08 | **6269** | **6330** |
| SFS AUTO RECEIVABLE 1A A2 144A 4.650% 05/22/28 DD 02/19/25 | **368353** | **368917** |
| SOLVENTUM CORP 5.450% 02/25/27 DD 08/25/24 | **253000** | **256661** |
| SOUTHERN CALIFORNIA EDISON CO 4.400% 09/06/26 DD 09/06/24 | **100000** | **100165** |
| SOUTHERN CALIFORNIA EDISON CO 4.875% 02/01/27 DD 01/11/24 | **200000** | **201309** |
| SOUTHERN CALIFORNIA EDISON CO 5.350% 03/01/26 DD 03/01/24 | **200000** | **200357** |
| STELLANTIS FINANCIAL BANK A3 144A 4.270% 01/22/29 DD 08/20/25 | **250000** | **251523** |
| SUMITOMO MITSUI FINANCIAL GROUP 2.632% 07/14/26 DD 07/14/16 | **1750000** | **1737833** |
| SYNCHRONY CARD FUNDING LLC A2 A 4.930% 07/15/30 DD 07/30/24 | **700000** | **711372** |
| SYNOPSYS INC 4.650% 04/01/28 DD 03/17/25 | **564000** | **571710** |
| TESLA AUTO LEASE TRUST A A3 144A 5.300% 06/21/27 DD 03/13/24 | **171708** | **172265** |
| THERMO FISHER SCIENTIFIC INC 5.000% 12/05/26 DD 12/05/23 | **825000** | **833134** |
| T-MOBILE USA INC 2.250% 02/15/26 DD 01/14/21 | **425000** | **424029** |
| T-MOBILE USA INC 2.625% 04/15/26 DD 03/23/21 | **992000** | **988073** |
| T-MOBILE USA INC 3.750% 04/15/27 DD 04/15/21 | **475000** | **473567** |
| TORONTO-DOMINION BANK/THE 4.861% 01/31/28 DD 01/31/25 | **1277000** | **1298283** |
| TORONTO-DOMINION BANK/THE 5.103% 01/09/26 DD 01/10/23 | **915000** | **915120** |
| TOYOTA AUTO RECEIVABLES 2 A A3 4.630% 09/15/27 DD 01/30/23 | **171213** | **171607** |
| TRESTLES CLO VII LT 7A A1 144A VAR RT 10/25/37 DD 09/06/24 | **1300000** | **1300000** |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Held at End of Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | |
| **rate of interest, collateral, par, or maturity value** | **Shares / Par Value** | **Current Value** |
| TRINITAS CLO XXX L 30A A1 144A VAR RT 10/23/37 DD 09/20/24 | **800000** | **800000** |
| TRUIST FINANCIAL CORP VAR RT 01/24/35 DD 01/24/24 | **820000** | **864325** |
| U S TREASURY NOTE 0.500% 02/28/26 DD 02/28/21 | **4580000** | **4556146** |
| U S TREASURY NOTE 0.500% 04/30/27 DD 04/30/20 | **630000** | **605784** |
| U S TREASURY NOTE 0.625% 05/15/30 DD 05/15/20 | **1280000** | **1124200** |
| U S TREASURY NOTE 0.625% 08/15/30 DD 08/15/20 | **8830000** | **7690378** |
| U S TREASURY NOTE 0.750% 04/30/26 DD 04/30/21 | **2470000** | **2447365** |
| U S TREASURY NOTE 1.000% 07/31/28 DD 07/31/21 | **1150000** | **1079338** |
| U S TREASURY NOTE 1.125% 02/29/28 DD 02/28/21 | **2130000** | **2026246** |
| U S TREASURY NOTE 1.250% 06/30/28 DD 06/30/21 | **5010000** | **4742865** |
| U S TREASURY NOTE 1.375% 08/31/26 DD 08/31/19 | **8670000** | **8547739** |
| U S TREASURY NOTE 3.500% 04/30/30 DD 04/30/23 | **850000** | **844521** |
| U S TREASURY NOTE 3.750% 05/31/30 DD 05/31/23 | **510000** | **511673** |
| U S TREASURY NOTE 3.750% 06/30/30 DD 06/30/23 | **750000** | **752402** |
| U S TREASURY NOTE 4.000% 05/31/30 DD 05/31/25 | **860000** | **871657** |
| U S TREASURY NOTE 4.125% 03/31/31 DD 03/31/24 | **480000** | **488663** |
| U S TREASURY NOTE 4.125% 03/31/32 DD 03/31/25 | **1040000** | **1055681** |
| U S TREASURY NOTE 4.125% 05/31/32 DD 05/31/25 | **970000** | **984095** |
| U S TREASURY NOTE 4.125% 11/30/31 DD 11/30/24 | **1170000** | **1189104** |
| U S TREASURY NOTE 4.250% 06/30/31 DD 06/30/24 | **1940000** | **1986151** |
| U S TREASURY NOTE 4.375% 05/15/34 DD 05/15/24 | **5310000** | **5436527** |
| U S TREASURY NOTE 4.500% 07/15/26 DD 07/15/23 | **3150000** | **3166156** |
| UBS AG/STAMFORD CT VAR RT 01/10/28 DD 01/10/25 | **885000** | **892507** |
| UNITEDHEALTH GROUP INC 4.600% 04/15/27 DD 03/21/24 | **830000** | **837055** |
| US TREAS-CPI INFLAT 0.125% 07/15/26 DD 07/15/16 | **135827** | **135042** |
| US TREAS-CPI INFLAT 0.250% 07/15/29 DD 07/15/19 | **407302** | **392741** |
| US TREAS-CPI INFLAT 0.375% 07/15/27 DD 07/15/17 | **159715** | **157900** |
| US TREAS-CPI INFLAT 0.625% 01/15/26 DD 01/15/16 | **137021** | **136700** |
| US TREAS-CPI INFLAT 0.750% 02/15/45 DD 02/15/15 | **193565** | **141383** |
| US TREAS-CPI INFLAT 0.875% 02/15/47 DD 02/15/17 | **26975** | **19487** |
| US TREAS-CPI INFLAT 1.375% 02/15/44 DD 02/15/14 | **181607** | **152312** |
| US TREAS-CPI INFLAT 1.875% 07/15/35 DD 07/15/25 | **1013950** | **1012890** |
| US TREAS-CPI INFLAT 2.500% 01/15/29 DD 01/15/09 | **424600** | **438544** |
| US TREAS-CPI INFLAT 3.375% 04/15/32 DD 10/15/01 | **18342** | **20271** |
| VENTURE 38 CLO LT 38A ARR 144A VAR RT 07/30/32 DD 03/07/25 | **194589** | **194589** |
| VERALTO CORP 5.500% 09/18/26 DD 03/18/24 | **1668000** | **1682215** |
| VERIZON COMMUNICATIONS INC 4.125% 03/16/27 DD 03/16/17 | **942000** | **944329** |
| VOLKSWAGEN AUTO LEASE TRUST A A2A 5.400% 12/21/26 DD 03/27/24 | **83673** | **83756** |
| VW CREDIT INC DISC 04/06/26 | **1500000** | **1476253** |
| WAMU MORTGAGE PASS-THROUGH AR13 A1A VAR RT 11/25/34 DD 11/23/04 | **57469** | **57072** |
| WELLS FARGO & CO VAR RT 06/17/27 DD 06/17/19 | **1295000** | **1289862** |
| WELLS FARGO & CO VAR RT 07/25/29 DD 07/25/23 | **940000** | **973969** |
| WELLS FARGO BANK NA 5.254% 12/11/26 DD 12/11/23 | **700000** | **708489** |
| WELLS FARGO COMMERCIAL 5C4 A3 5.673% 05/15/58 DD 05/01/25 | **400000** | **418375** |
| WILLIAMS COS INC/THE 4.625% 06/30/30 DD 06/30/25 | **685000** | **692417** |
| WORLD OMNI AUTOMOBILE LEASE A A3 4.420% 04/17/28 DD 03/12/25 | **1000000** | **1008331** |
| WORLD OMNI SELECT AUTO TRUST A A2A 5.370% 02/15/28 DD 07/24/24 | **34890** | **34911** |
| XCEL ENERGY INC 1.750% 03/15/27 DD 11/03/21 | **850000** | **827200** |
| XCEL ENERGY INC 3.350% 12/01/26 DD 12/01/16 | **266000** | **264349** |
| ZAIS CLO 18 LTD 18A A1R 144A VAR RT 10/25/37 DD 08/21/25 | **1000000** | **1000000** |
| **Total Fixed Income Securities** |  | $**211801505** |
| **Common Stock** |  |  |
| 10X GENOMICS INC | **40931** | $**667585** |
| 3M CO | **58977** | **9442218** |
| AAON INC | **47537** | **3624696** |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Held at End of Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | |
| **rate of interest, collateral, par, or maturity value** | **Shares / Par Value** | **Current Value** |
| AAR CORP | **39282** | **3252157** |
| ABBOTT LABORATORIES | **112756** | **14127199** |
| ABBVIE INC | **30375** | **6940384** |
| ABERCROMBIE & FITCH CO | **5575** | **701725** |
| ACCENTURE PLC | **13108** | **3516876** |
| ACCOR SA | **17805** | **1008332** |
| ADAPTIVE BIOTECHNOLOGIES CORP | **57877** | **939922** |
| ADDUS HOMECARE CORP | **7373** | **791786** |
| ADIDAS AG | **5927** | **1176751** |
| ADOBE INC | **12110** | **4238379** |
| ADVANCE AUTO PARTS INC | **32618** | **1281887** |
| ADVANCED ENERGY INDUSTRIES INC | **7377** | **1544522** |
| ADVANCED MICRO DEVICES INC | **32801** | **7024662** |
| ADVANTEST CORP | **14989** | **1877629** |
| ADYEN NV | **1684** | **2719439** |
| AEROVIRONMENT INC | **1475** | **356788** |
| AGCO CORP | **35400** | **3692928** |
| AGIOS PHARMACEUTICALS INC | **16096** | **438133** |
| AIA GROUP LTD HK/01299 | **692139** | **7105018** |
| AIB GROUP PLC | **174765** | **1888246** |
| AIR LIQUIDE SA | **9733** | **1831920** |
| AIRBUS SE | **9606** | **2238303** |
| AKAMAI TECHNOLOGIES INC | **45600** | **3978600** |
| AKZO NOBEL NV | **4172** | **290068** |
| ALCON AG | **29053** | **2289667** |
| ALFA LAVAL AB | **64423** | **3254414** |
| ALIBABA GROUP HOLDING LTD ADR | **50169** | **7353772** |
| ALIGHT INC | **405672** | **791060** |
| ALIGNMENT HEALTHCARE INC | **61516** | **1214941** |
| ALIMENTATION COUCHE-TARD INC | **39477** | **2158815** |
| ALKERMES PLC | **28293** | **791638** |
| ALLEGRO MICROSYSTEMS INC | **31907** | **841707** |
| ALLFUNDS GROUP PLC | **108955** | **1029456** |
| ALLIANCE LAUNDRY HOLDINGS INC | **35726** | **727024** |
| ALLIANT ENERGY CORP | **140600** | **9140406** |
| ALLIANZ SE | **13843** | **6348714** |
| ALNYLAM PHARMACEUTICALS INC | **9445** | **3755804** |
| ALPHA METALLURGICAL RESOURCES | **1827** | **365181** |
| ALPHABET INC | **146635** | **46014063** |
| AMAZON.COM INC | **116116** | **26801895** |
| AMERANT BANCORP INC | **120856** | **2357901** |
| AMERESCO INC | **25333** | **742004** |
| AMERICAN EAGLE OUTFITTERS INC | **24918** | **657088** |
| AMERICAN FINANCIAL GROUP INC/O | **47300** | **6464964** |
| AMERICAN INTERNATIONAL GROUP INC | **150740** | **12895807** |
| AMERICAN VANGUARD CORP | **49763** | **190095** |
| AMERICAN WATER WORKS CO INC | **43900** | **5728950** |
| AMERIS BANCORP | **45762** | **3398744** |
| AMKOR TECHNOLOGY INC | **15737** | **621297** |
| AMPHENOL CORP | **48000** | **6486720** |
| ANGLO AMERICAN PLC | **29194** | **1211399** |
| ANHEUSER-BUSCH INBEV SA/NV | **20939** | **1350090** |
| ANTOFAGASTA PLC | **20784** | **916661** |
| ANZ GROUP HOLDINGS LTD | **72220** | **1750131** |
| AON PLC | **25230** | **8903162** |
| API GROUP CORP | **126262** | **4830784** |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Held at End of Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | |
| **rate of interest, collateral, par, or maturity value** | **Shares / Par Value** | **Current Value** |
| APOGEE THERAPEUTICS INC | **12479** | **941915** |
| APPLE INC | **220976** | **60074535** |
| APPLOVIN CORP | **11850** | **7984767** |
| APTARGROUP INC | **39750** | **4847910** |
| ARCADIS NV | **10604** | **442610** |
| ARCELLX INC | **6932** | **451966** |
| ARCHER DANIELS MIDLAND CO | **81800** | **4702682** |
| ARCHROCK INC | **29476** | **766966** |
| ARCUS BIOSCIENCES INC | **24043** | **572945** |
| ARES MANAGEMENT CORP | **14687** | **2373860** |
| ARGENX SE | **3058** | **2574364** |
| ARGENX SE ADR | **13527** | **11375530** |
| ARISTA NETWORKS INC | **6226** | **815793** |
| ARKEMA SA | **6107** | **374039** |
| ARTHUR J GALLAGHER & CO | **4362** | **1128842** |
| ASCENDIS PHARMA A/S ADR | **46584** | **9933572** |
| ASML HOLDING NV | **10514** | **11377602** |
| ASSA ABLOY AB | **58997** | **2296831** |
| ASSURED GUARANTY LTD | **10461** | **940130** |
| ASTERA LABS INC | **17477** | **2907474** |
| ASTRAZENECA PLC | **22449** | **4163894** |
| ATLANTA BRAVES HOLDINGS INC | **22604** | **891728** |
| ATLAS COPCO AB | **209088** | **3766115** |
| ATRICURE INC | **20116** | **795789** |
| AUMOVIO SE | **11536** | **581771** |
| AUTOZONE INC | **3007** | **10198241** |
| AVIENT CORP | **47523** | **1484619** |
| AXSOME THERAPEUTICS INC | **9612** | **1755536** |
| AYVENS SA | **79769** | **1071753** |
| AZZ INC | **22623** | **2424733** |
| BABCOCK INTERNATIONAL GROUP PL | **30054** | **502472** |
| BAE SYSTEMS PLC | **236423** | **5450533** |
| BAKER HUGHES CO | **219184** | **9981639** |
| BANCO BILBAO VIZCAYA ARGENTARIA | **167555** | **3945539** |
| BANK LEUMI LE-ISRAEL BM | **73802** | **1625585** |
| BANK OF AMERICA CORP | **111185** | **6115175** |
| BARRICK MINING CORP | **20986** | **915377** |
| BAWAG GROUP AG | **22979** | **3481412** |
| BAYERISCHE MOTOREN WERKE AG | **6699** | **732792** |
| BEAZLEY PLC | **125367** | **1402959** |
| BELDEN INC | **12271** | **1430185** |
| BELLRING BRANDS INC | **7801** | **208521** |
| BERKSHIRE HATHAWAY INC | **28343** | **14246609** |
| BLACK ROCK COFFEE BAR INC | **23721** | **527792** |
| BLOOM ENERGY CORP | **58580** | **5090017** |
| BLUE RIDGE BANKSHARES INC | **383849** | **1639035** |
| BOISE CASCADE CO | **13783** | **1014429** |
| BOOKING HOLDINGS INC | **1430** | **7658122** |
| BOOT BARN HOLDINGS INC | **13865** | **2446757** |
| BORGWARNER INC | **110700** | **4988142** |
| BRENNTAG SE | **10477** | **609822** |
| BRIDGEBIO PHARMA INC | **26139** | **1999372** |
| BRINKER INTERNATIONAL INC | **3535** | **507343** |
| BRITISH AMERICAN TOBACCO PLC | **78788** | **4465736** |
| BROADCOM INC | **117471** | **40656713** |
| BROOKDALE SENIOR LIVING INC | **227127** | **2450700** |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Held at End of Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | |
| **rate of interest, collateral, par, or maturity value** | **Shares / Par Value** | **Current Value** |
| BT GROUP PLC | **637061** | **1577086** |
| BUILDERS FIRSTSOURCE INC | **44563** | **4585087** |
| BUREAU VERITAS SA | **35653** | **1138099** |
| BWX TECHNOLOGIES INC | **16851** | **2912527** |
| CABOT CORP | **26001** | **1723346** |
| CACTUS INC | **40803** | **1863881** |
| CADENCE BANK | **27526** | **1179214** |
| CALIFORNIA BANCORP | **93325** | **1742378** |
| CALLAWAY GOLF CO | **55944** | **652866** |
| CANADIAN NATIONAL RAILWAY CO | **13434** | **1327951** |
| CAPCOM CO LTD | **25904** | **603372** |
| CAPITAL CITY BANK GROUP INC | **28131** | **1197537** |
| CAPITAL ONE FINANCIAL CORP | **33576** | **8137479** |
| CARGURUS INC | **152365** | **5843198** |
| CARMAX INC | **63097** | **2438068** |
| CARRIER GLOBAL CORP | **68600** | **3624824** |
| CARVANA CO | **21858** | **9224514** |
| CASELLA WASTE SYSTEMS INC | **29890** | **2927427** |
| CASEY'S GENERAL STORES INC | **10275** | **5679095** |
| CASTLE BIOSCIENCES INC | **12957** | **504027** |
| CBRE GROUP INC | **24470** | **3934531** |
| CCC INTELLIGENT SOLUTIONS HOLDINGS | **286004** | **2273732** |
| CELCUITY INC | **3979** | **396865** |
| CELESTICA INC | **11532** | **3408975** |
| CELLDEX THERAPEUTICS INC | **30761** | **835469** |
| CENCORA INC | **8314** | **2808054** |
| CENTRUS ENERGY CORP | **1557** | **377977** |
| CENTURI HOLDINGS INC | **20254** | **511414** |
| CENTURY ALUMINUM CO | **7500** | **293850** |
| CENTURY COMMUNITIES INC | **19048** | **1130499** |
| CF INDUSTRIES HOLDINGS INC | **59300** | **4586262** |
| CG ONCOLOGY INC | **17706** | **735153** |
| CHALLENGER LTD | **105353** | **661096** |
| CHAMPION HOMES INC | **23636** | **1997242** |
| CHARLES SCHWAB CORP/THE | **54270** | **5422116** |
| CHECK POINT SOFTWARE TECHNOLOGY | **25750** | **4778170** |
| CHEFS' WAREHOUSE INC/THE | **50870** | **3170727** |
| CHENIERE ENERGY INC | **2532** | **492195** |
| CHESAPEAKE UTILITIES CORP | **13566** | **1692494** |
| CHIBA BANK LTD/THE | **50060** | **558263** |
| CHORD ENERGY CORP | **55998** | **5191015** |
| CHUGAI PHARMACEUTICAL CO LTD | **104700** | **5506026** |
| CIE DE SAINT-GOBAIN SA | **16442** | **1679224** |
| CIE FINANCIERE RICHEMONT SA | **11359** | **2466792** |
| CIENA CORP | **18940** | **4429498** |
| CINEMARK HOLDINGS INC | **69353** | **1611764** |
| CIPHER DIGITAL INC | **21565** | **318299** |
| CLEAR SECURE INC | **104211** | **3655722** |
| CLEARWATER ANALYTICS HOLDINGS | **83531** | **2014768** |
| CLOUDFLARE INC | **49329** | **9725212** |
| CMS ENERGY CORP | **95400** | **6671322** |
| CNX RESOURCES CORP | **16115** | **592549** |
| COCA-COLA CO/THE | **70365** | **4919217** |
| COCA-COLA EUROPACIFIC PARTNERS | **3733** | **343943** |
| COEUR MINING INC | **88695** | **1581432** |
| COGENT BIOSCIENCES INC | **28820** | **1023686** |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Held at End of Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | |
| **rate of interest, collateral, par, or maturity value** | **Shares / Par Value** | **Current Value** |
| COGNEX CORP | **4852** | **174575** |
| COHERENT CORP | **12633** | **2331673** |
| COLGATE-PALMOLIVE CO | **116105** | **9174617** |
| COLOPLAST A/S | **11657** | **1001539** |
| COMFORT SYSTEMS USA INC | **4551** | **4247403** |
| COMMERCIAL METALS CO | **15478** | **1071387** |
| COMMONWEALTH BANK OF AUSTRALIA | **14802** | **1584941** |
| COMPASS GROUP PLC | **54960** | **1747562** |
| COMPASS INC | **214394** | **2266145** |
| CONCENTRA GROUP HOLDINGS PARENT | **17282** | **340110** |
| CONOCOPHILLIPS | **72846** | **6819114** |
| CONSTELLIUM SE | **21420** | **403767** |
| CONTEMPORARY AMPEREX TECHNOLOGY HK/03750 | **63981** | **4155251** |
| COOPER COS INC/THE | **41473** | **3399127** |
| CORE NATURAL RESOURCES INC | **7310** | **647008** |
| CORE SCIENTIFIC INC | **15662** | **228039** |
| COTERRA ENERGY INC | **222300** | **5850936** |
| CREDICORP LTD | **9307** | **2671109** |
| CREDO TECHNOLOGY GROUP HOLDING | **32640** | **4696570** |
| CRINETICS PHARMACEUTICALS INC | **24218** | **1127348** |
| CRODA INTERNATIONAL PLC | **6339** | **229783** |
| CROWDSTRIKE HOLDINGS INC | **9620** | **4509471** |
| CROWN HOLDINGS INC | **37500** | **3861375** |
| CSX CORP | **182300** | **6608375** |
| CYBERARK SOFTWARE LTD | **1546** | **689609** |
| CYTEK BIOSCIENCES INC | **45608** | **230320** |
| CYTOKINETICS INC | **22082** | **1403090** |
| DAIFUKU CO LTD | **66400** | **2087589** |
| DAI-ICHI LIFE HOLDINGS INC | **20800** | **172974** |
| DAIICHI SANKYO CO LTD | **48142** | **1028291** |
| DAIMLER TRUCK HOLDING AG | **20101** | **881036** |
| DANONE SA | **11539** | **1040521** |
| DASSAULT SYSTEMES SE | **52334** | **1465294** |
| DAVE INC | **4803** | **1063432** |
| DBS GROUP HOLDINGS LTD | **175708** | **7700546** |
| DEERE & CO | **15159** | **7057576** |
| DEUTSCHE POST AG | **2909** | **159652** |
| DEUTSCHE TELEKOM AG | **52462** | **1704243** |
| DEVON ENERGY CORP | **142700** | **5227101** |
| DIAMONDBACK ENERGY INC | **35787** | **5379860** |
| DIANTHUS THERAPEUTICS INC | **9078** | **374104** |
| DISC MEDICINE INC | **9455** | **750822** |
| DISCO CORP | **16164** | **4967430** |
| DNOW INC | **72804** | **964653** |
| DOORDASH INC | **40396** | **9148886** |
| DORMAN PRODUCTS INC | **7539** | **928729** |
| DOVER CORP | **9746** | **1902809** |
| DR HORTON INC | **23181** | **3338759** |
| DSM-FIRMENICH AG | **3377** | **272710** |
| DSV A/S | **2599** | **660008** |
| DUTCH BROS INC | **17757** | **1087084** |
| DXP ENTERPRISES INC/TX | **27278** | **2994852** |
| E.ON SE | **169421** | **3208496** |
| EASTERN BANKSHARES INC | **198860** | **3664990** |
| EASYJET PLC | **59935** | **411623** |
| ECHOSTAR CORP | **13282** | **1443753** |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Held at End of Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | |
| **rate of interest, collateral, par, or maturity value** | **Shares / Par Value** | **Current Value** |
| EDWARDS LIFESCIENCES CORP | **12616** | **1075514** |
| ELEMENT SOLUTIONS INC | **42696** | **1066973** |
| ELF BEAUTY INC | **1687** | **128279** |
| ELI LILLY & CO | **15206** | **16341584** |
| ENERGY FUELS INC/CANADA | **8835** | **128461** |
| ENGIE SA | **105548** | **2777963** |
| ENSIGN GROUP INC/THE | **9277** | **1616053** |
| ENTERPRISE FINANCIAL SERVICES | **49293** | **2661822** |
| EPIROC AB | **103029** | **2345835** |
| EQT CORP | **34403** | **1844001** |
| EQUITABLE HOLDINGS INC | **64060** | **3052459** |
| ERSTE GROUP BANK AG | **13968** | **1688045** |
| ESC GLOBIX CORPORATION | **1200** | **–** |
| ESCO TECHNOLOGIES INC | **2248** | **439237** |
| ESSENT GROUP LTD | **38544** | **2505745** |
| ESTEE LAUDER COS INC/THE | **46300** | **4848536** |
| EVOLUTION MINING LTD | **68486** | **579094** |
| EXCELERATE ENERGY INC | **20925** | **586946** |
| EXPAND ENERGY CORP | **35700** | **3939852** |
| EXPEDIA GROUP INC | **24650** | **6983592** |
| EXPERIAN PLC | **13113** | **593154** |
| F&G ANNUITIES & LIFE INC | **5022** | **154929** |
| FABRINET | **5367** | **2443488** |
| FAIR ISAAC CORP | **1595** | **2696539** |
| FANUC CORP | **51498** | **1998876** |
| FB FINANCIAL CORP | **57144** | **3188635** |
| FEDEX CORP | **11502** | **3322468** |
| FERGUSON ENTERPRISES INC | **14731** | **3279563** |
| FIDELITY NATIONAL FINANCIAL INC | **68825** | **3757157** |
| FINECOBANK BANCA FINECO SPA | **77473** | **2019937** |
| FIRST INTERSTATE BANCSYSTEM INC | **67769** | **2344807** |
| FIRST QUANTUM MINERALS LTD | **19911** | **534543** |
| FIRST WESTERN FINANCIAL INC | **10132** | **271639** |
| FIVE POINT HOLDINGS LLC | **38631** | **215947** |
| FLYWIRE CORP | **116994** | **1656635** |
| FOMENTO ECONOMICO MEXICANO SAB ADR | **36319** | **3670761** |
| FRANCO-NEVADA CORP | **21100** | **4373608** |
| FRESHPET INC | **11992** | **730673** |
| FTAI AVIATION LTD | **13864** | **2729128** |
| FTI CONSULTING INC | **28600** | **4885738** |
| FUKUOKA FINANCIAL GROUP INC | **9600** | **310333** |
| GALDERMA GROUP AG | **6710** | **1372914** |
| GE AEROSPACE | **34195** | **10533086** |
| GE VERNOVA INC | **18356** | **11996931** |
| GENERAL MILLS INC | **105365** | **4899473** |
| GENERAL MOTORS CO | **37492** | **3048849** |
| GENERALI | **20752** | **871306** |
| GENIUS SPORTS LTD | **143502** | **1581392** |
| GENMAB A/S | **7570** | **2412792** |
| GILDAN ACTIVEWEAR INC | **1649** | **102997** |
| GILEAD SCIENCES INC | **47251** | **5799588** |
| GLENCORE PLC | **288196** | **1575942** |
| GMO PAYMENT GATEWAY INC | **10470** | **651465** |
| \*GOLDMAN SACHS GROUP INC/THE | **493014** | **433359306** |
| GOODYEAR TIRE & RUBBER CO/THE | **191266** | **1675490** |
| GRAB HOLDINGS LTD | **126695** | **632208** |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Held at End of Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | |
| **rate of interest, collateral, par, or maturity value** | **Shares / Par Value** | **Current Value** |
| GROUP 1 AUTOMOTIVE INC | **1096** | **431057** |
| GRUPO FINANCIERO BANORTE SAB DE CV | **188000** | **1744538** |
| GSK PLC | **143754** | **3527786** |
| GUARDANT HEALTH INC | **8052** | **822431** |
| GUIDEWIRE SOFTWARE INC | **13498** | **2713233** |
| GULFPORT ENERGY CORP | **7341** | **1526855** |
| HA SUSTAINABLE INFRASTRUCTURE | **75151** | **2361996** |
| HACHIJUNI NAGANO BANK LTD | **27600** | **298899** |
| HAIER SMART HOME CO LTD HK/06690 | **569400** | **1776197** |
| HALEON PLC | **699593** | **3526821** |
| HAMILTON INSURANCE GROUP LTD | **64893** | **1810515** |
| HAMILTON LANE INC | **7724** | **1037410** |
| HARTFORD INSURANCE GROUP INC/THE | **49700** | **6848660** |
| HAYWARD HOLDINGS INC | **140508** | **2170849** |
| HB FULLER CO | **23799** | **1415089** |
| HDFC BANK LTD ADR | **149432** | **5460245** |
| HEALTHEQUITY INC | **10825** | **991678** |
| HECLA MINING CO | **82312** | **1579567** |
| HEINEKEN NV | **2991** | **244981** |
| HELIOS TECHNOLOGIES INC | **28958** | **1548963** |
| HERITAGE FINANCIAL CORP/WA | **5975** | **141309** |
| HIKMA PHARMACEUTICALS PLC | **20904** | **435812** |
| HILTON WORLDWIDE HOLDINGS INC | **10400** | **2987400** |
| HIMS & HERS HEALTH INC | **96209** | **3123906** |
| HITACHI LTD | **113494** | **3549380** |
| HOKUHOKU FINANCIAL GROUP INC | **10700** | **313331** |
| HOLOGIC INC | **97000** | **7225530** |
| HONDA MOTOR CO LTD | **110058** | **1078498** |
| HORIZON BANCORP INC/IN | **38444** | **652010** |
| HSBC HOLDINGS PLC | **152470** | **2407226** |
| HUB GROUP INC | **72700** | **3097747** |
| HUBBELL INC | **11675** | **5184984** |
| HUNTINGTON BANCSHARES INC/OH | **363250** | **6302388** |
| HUT 8 CORP | **23592** | **1083816** |
| ICG PLC | **29437** | **813266** |
| IDACORP INC | **15320** | **1938899** |
| IMAX CORP | **12567** | **464476** |
| IMCD NV | **4945** | **449164** |
| IMMUNOCORE HOLDINGS PLC ADR | **8054** | **279554** |
| IMMUNOME INC | **13938** | **299388** |
| IMPERIAL BRANDS PLC | **31505** | **1321701** |
| IMPINJ INC | **5444** | **947310** |
| INCHCAPE PLC | **95694** | **989805** |
| INDIE SEMICONDUCTOR INC | **77755** | **274475** |
| INDUSTRIA DE DISENO TEXTIL SA | **42497** | **2811963** |
| INGERSOLL RAND INC | **29028** | **2299598** |
| INGEVITY CORP | **24184** | **1431209** |
| INGRAM MICRO HOLDING CORP | **61996** | **1322995** |
| INNODATA INC | **22005** | **1121155** |
| INNOVEX INTERNATIONAL INC | **43688** | **955457** |
| INSMED INC | **120491** | **20970253** |
| INSPIRE MEDICAL SYSTEMS INC | **4467** | **411991** |
| INSULET CORP | **11763** | **3343515** |
| INTERCONTINENTAL EXCHANGE INC | **3679** | **595851** |
| INTERDIGITAL INC | **3538** | **1126428** |
| INTERNATIONAL BUSINESS MACHINE | **39410** | **11673636** |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Held at End of Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | |
| **rate of interest, collateral, par, or maturity value** | **Shares / Par Value** | **Current Value** |
| INTERNATIONAL PAPER CO | **82274** | **3240773** |
| INTUIT INC | **9608** | **6364531** |
| INTUITIVE SURGICAL INC | **4122** | **2334536** |
| IONQ INC | **39750** | **1783583** |
| IQVIA HOLDINGS INC | **28500** | **6424185** |
| IRHYTHM HOLDINGS INC | **30860** | **5475799** |
| ISRACARD LTD | **1** | **5** |
| ISUZU MOTORS LTD | **86932** | **1352966** |
| IVANHOE ELECTRIC INC / US | **25707** | **410798** |
| IVANHOE MINES LTD CL A | **15831** | **180282** |
| JAMES HARDIE INDUSTRIES PLC | **168813** | **3502870** |
| JANUX THERAPEUTICS INC | **29491** | **406976** |
| JCDECAUX SE | **57100** | **1038106** |
| JERONIMO MARTINS SGPS SA | **81564** | **1940763** |
| JOHNSON & JOHNSON | **38627** | **7993858** |
| KAISER ALUMINUM CORP | **2089** | **239943** |
| KAJIMA CORP | **10300** | **383429** |
| KANSAI ELECTRIC POWER CO INC/THE | **80200** | **1256123** |
| KBC GROUP NV | **24977** | **3263434** |
| KDDI CORP | **120434** | **2081058** |
| KEIYO BANK LTD/THE | **14000** | **148624** |
| KENNAMETAL INC | **32408** | **920711** |
| KEYCORP | **178991** | **3694374** |
| KEYENCE CORP | **4869** | **1760662** |
| KEYSIGHT TECHNOLOGIES INC | **33700** | **6847503** |
| KINETIK HOLDINGS INC | **21439** | **772876** |
| KINROSS GOLD CORP | **3389** | **95582** |
| KION GROUP AG | **2806** | **224918** |
| KNIGHT-SWIFT TRANSPORTATION HOLDINGS | **106950** | **5591346** |
| KODIAK SCIENCES INC | **12395** | **346564** |
| KOITO MANUFACTURING CO LTD | **35484** | **522939** |
| KOKUSAI ELECTRIC CORP | **10600** | **371604** |
| KONTOOR BRANDS INC | **10306** | **629594** |
| KORN FERRY | **54091** | **3571088** |
| KUBOTA CORP | **73874** | **1044638** |
| KYMERA THERAPEUTICS INC | **11933** | **928507** |
| KYOTO FINANCIAL GROUP INC | **13400** | **292971** |
| KYUSHU FINANCIAL GROUP INC | **47900** | **311093** |
| L3HARRIS TECHNOLOGIES INC | **42023** | **12336692** |
| LABCORP HOLDINGS INC | **46682** | **11711580** |
| LAM RESEARCH CORP | **3935** | **673593** |
| LANDSTAR SYSTEM INC | **19800** | **2845260** |
| LASERTEC CORP | **25500** | **4822786** |
| LATHAM GROUP INC | **196167** | **1245660** |
| LATTICE SEMICONDUCTOR CORP | **52128** | **3835578** |
| LENDINGCLUB CORP | **24783** | **469390** |
| LIBERTY ENERGY INC | **21749** | **401487** |
| LIBERTY MEDIA CORP-LIBERTY FORMULA ONE | **44770** | **4410293** |
| LINCOLN ELECTRIC HOLDINGS INC | **29100** | **6973524** |
| LINDSAY CORP | **6991** | **824029** |
| LIVANOVA PLC | **19127** | **1176884** |
| LIVE NATION ENTERTAINMENT INC | **33334** | **4750095** |
| LONDON STOCK EXCHANGE GROUP PLC | **6069** | **730761** |
| L'OREAL SA | **5828** | **2509265** |
| LOWE'S COS INC | **26775** | **6457059** |
| LUKOIL PJSC ADR | **41527** | **–** |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Held at End of Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | |
| **rate of interest, collateral, par, or maturity value** | **Shares / Par Value** | **Current Value** |
| LUMENTUM HOLDINGS INC | **5944** | **2190899** |
| LUNDIN MINING CORP | **31863** | **685726** |
| LVMH MOET HENNESSY LOUIS VUITTON | **2996** | **2269531** |
| M3 INC | **153466** | **2069777** |
| MACOM TECHNOLOGY SOLUTIONS HOLDINGS | **13811** | **2365548** |
| MACQUARIE GROUP LTD | **8302** | **1124954** |
| MADRIGAL PHARMACEUTICALS INC | **2990** | **1741197** |
| MAGNITE INC | **192811** | **3129323** |
| MAGNUM ICE CREAM CO NV/THE | **3683** | **58331** |
| MAMA'S CREATIONS INC | **13714** | **185002** |
| MANNKIND CORP | **88132** | **499708** |
| MANULIFE FINANCIAL CORP | **100092** | **3639311** |
| MARA HOLDINGS INC | **13584** | **121984** |
| MARAVAI LIFESCIENCES HOLDINGS | **138481** | **450063** |
| MARKS & SPENCER GROUP PLC | **226416** | **1004985** |
| MARQETA INC | **320889** | **1524223** |
| MARTIN MARIETTA MATERIALS INC | **6921** | **4309430** |
| MARUBENI CORP | **34439** | **956413** |
| MASTERCARD INC | **42853** | **24463921** |
| MATADOR RESOURCES CO | **52478** | **2227166** |
| MBX BIOSCIENCES INC | **18258** | **575857** |
| MCDONALD'S CORP | **13407** | **4097581** |
| MCKESSON CORP | **5655** | **4638740** |
| MEDLINE INC | **36157** | **1518594** |
| MEDTRONIC PLC | **28775** | **2764127** |
| MERCADOLIBRE INC | **3219** | **6483903** |
| MERCANTILE BANK CORP | **1200** | **57720** |
| MERIT MEDICAL SYSTEMS INC | **13753** | **1212189** |
| META PLATFORMS INC | **30767** | **20308989** |
| METHANEX CORP | **9121** | **362245** |
| METLIFE INC | **62088** | **4901227** |
| MIAMI INTERNATIONAL HOLDINGS INC | **15938** | **707328** |
| MICROCHIP TECHNOLOGY INC | **96000** | **6117120** |
| MICROSOFT CORP | **157199** | **76024580** |
| MIDDLEBY CORP/THE | **22300** | **3315341** |
| MIDWESTONE FINANCIAL GROUP INC | **18146** | **698621** |
| MIND MEDICINE MINDMED INC | **32424** | **434157** |
| MINERALYS THERAPEUTICS INC | **10882** | **394908** |
| MIRUM PHARMACEUTICALS INC | **9197** | **726471** |
| MISUMI GROUP INC | **60757** | **948498** |
| MITSUBISHI ELECTRIC CORP | **22405** | **655376** |
| MITSUI & CO LTD | **21774** | **644976** |
| MITSUI FUDOSAN CO LTD | **208488** | **2368260** |
| MIZUHO FINANCIAL GROUP INC | **58630** | **2132068** |
| MKS INC | **57203** | **9141039** |
| MNTN INC | **116296** | **1388574** |
| MODINE MANUFACTURING CO | **20073** | **2679946** |
| MOLINA HEALTHCARE INC | **24800** | **4303792** |
| MONGODB INC | **7109** | **2983576** |
| MONOLITHIC POWER SYSTEMS INC | **2918** | **2644758** |
| MONOPAR THERAPEUTICS INC | **6721** | **438881** |
| MS&AD INSURANCE GROUP HOLDINGS | **25301** | **594492** |
| MVB FINANCIAL CORP | **23964** | **618990** |
| MYR GROUP INC | **6985** | **1526223** |
| NATERA INC | **38276** | **8768649** |
| NATIONAL VISION HOLDINGS INC | **71730** | **1852069** |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Held at End of Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | |
| **rate of interest, collateral, par, or maturity value** | **Shares / Par Value** | **Current Value** |
| NATURAL GROCERS BY VITAMIN COTTAGE | **10303** | **258090** |
| NAVER CORP | **19550** | **3291016** |
| NETEASE INC ADR | **15496** | **2132560** |
| NETFLIX INC | **60946** | **5714297** |
| NEWAMSTERDAM PHARMA CO NV | **8074** | **283236** |
| NEWMARK GROUP INC | **92039** | **1595956** |
| NEXT PLC | **8023** | **1476255** |
| NEXTPOWER INC | **45931** | **4001049** |
| NICE LTD ADR | **13718** | **1550683** |
| NOBA BANK GROUP AB | **8561** | **109394** |
| NOMURA HOLDINGS INC | **116700** | **968622** |
| NOMURA RESEARCH INSTITUTE LTD | **22313** | **857103** |
| NOVAGOLD RESOURCES INC | **51156** | **476774** |
| NOVANTA INC | **9242** | **1099706** |
| NOVARTIS AG | **28301** | **3915165** |
| NOVO NORDISK A/S | **15463** | **790827** |
| NOVONESIS NOVOZYMES B | **19564** | **1254513** |
| NUCOR CORP | **24284** | **3960963** |
| NUVALENT INC | **7681** | **772632** |
| NVIDIA CORP | **553792** | **103282208** |
| NVR INC | **458** | **3340089** |
| OBIC CO LTD | **44000** | **1381658** |
| ODDITY TECH LTD | **8032** | **322726** |
| OKLO INC | **11122** | **798115** |
| OLD REPUBLIC INTERNATIONAL CORP | **131600** | **6006224** |
| OMNICELL INC | **20604** | **933361** |
| ONE GAS INC | **22251** | **1718890** |
| ONESPAWORLD HOLDINGS LTD | **63664** | **1320391** |
| ONTO INNOVATION INC | **15207** | **2400577** |
| OPTION CARE HEALTH INC | **47157** | **1502422** |
| ORACLE CORP | **44602** | **8693376** |
| ORANGE SA | **64008** | **1067474** |
| ORMAT TECHNOLOGIES INC | **19643** | **2169962** |
| ORORA LTD | **106749** | **157320** |
| OSCAR HEALTH INC | **23023** | **330841** |
| OTSUKA HOLDINGS CO LTD | **30500** | **1726540** |
| PACKAGING CORP OF AMERICA | **38600** | **7960478** |
| PALANTIR TECHNOLOGIES INC | **72251** | **12842615** |
| PALO ALTO NETWORKS INC | **10973** | **2021227** |
| PARSONS CORP | **74681** | **4615285** |
| PATRICK INDUSTRIES INC | **11577** | **1255294** |
| PEABODY ENERGY CORP | **16818** | **499495** |
| PENSKE AUTOMOTIVE GROUP INC | **25800** | **4083882** |
| PENUMBRA INC | **5238** | **1628547** |
| PERELLA WEINBERG PARTNERS | **34889** | **603580** |
| PERFORMANCE FOOD GROUP CO | **69200** | **6222464** |
| PERNOD RICARD SA | **10802** | **927376** |
| PERPETUA RESOURCES CORP | **13579** | **328748** |
| PFIZER INC | **157998** | **3934150** |
| PHARVARIS NV | **15259** | **423437** |
| PHILIP MORRIS INTERNATIONAL INC | **51696** | **8292038** |
| PHOENIX FINANCIAL LTD | **11774** | **486904** |
| PING AN INSURANCE GROUP CO OF HK/02318 | **257500** | **2155345** |
| PIPER SANDLER COS | **4760** | **1617020** |
| POWER INTEGRATIONS INC | **19789** | **703301** |
| PRAXIS PRECISION MEDICINES INC | **3649** | **1075506** |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Held at End of Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | |
| **rate of interest, collateral, par, or maturity value** | **Shares / Par Value** | **Current Value** |
| PRIMORIS SERVICES CORP | **6606** | **820069** |
| PRIVIA HEALTH GROUP INC | **13645** | **323523** |
| PROSUS NV | **33935** | **2106335** |
| PROTAGONIST THERAPEUTICS INC | **14251** | **1244682** |
| PRUDENTIAL PLC | **121857** | **1875879** |
| PTC THERAPEUTICS INC | **19087** | **1449849** |
| PURE STORAGE INC | **37654** | **2523195** |
| QBE INSURANCE GROUP LTD | **8735** | **115858** |
| QIAGEN NV | **28349** | **1293657** |
| QUAKER CHEMICAL CORP | **8550** | **1174001** |
| QUANTA SERVICES INC | **10543** | **4449779** |
| QUEST DIAGNOSTICS INC | **35300** | **6125609** |
| RADNET INC | **8371** | **597271** |
| RAMBUS INC | **27191** | **2498581** |
| RAYMOND JAMES FINANCIAL INC | **38750** | **6222863** |
| RBC BEARINGS INC | **11340** | **5085196** |
| RECKITT BENCKISER GROUP PLC | **14875** | **1200857** |
| RECRUIT HOLDINGS CO LTD | **27725** | **1564854** |
| RED ROCK RESORTS INC | **19994** | **1238628** |
| REDDIT INC | **13019** | **2992678** |
| REGAL REXNORD CORP | **54414** | **7635372** |
| REMITLY GLOBAL INC | **67582** | **932632** |
| RENASANT CORP | **73545** | **2590255** |
| REPUBLIC SERVICES INC | **17800** | **3772354** |
| REVOLUTION MEDICINES INC | **23409** | **1864527** |
| REXEL SA | **55235** | **2179008** |
| RHEINMETALL AG | **493** | **903825** |
| RHYTHM PHARMACEUTICALS INC | **8221** | **879976** |
| RIGETTI COMPUTING INC | **30549** | **676660** |
| RIO TINTO PLC | **48092** | **3877288** |
| RIOT PLATFORMS INC | **28730** | **364009** |
| ROBINHOOD MARKETS INC | **94284** | **10663521** |
| ROBLOX CORP | **101264** | **8205422** |
| ROCHE HOLDING AG | **15906** | **6589270** |
| ROCKET LAB CORP | **21343** | **1488888** |
| ROKU INC | **10824** | **1174296** |
| ROLLS-ROYCE HOLDINGS PLC | **95510** | **1477356** |
| RPM INTERNATIONAL INC | **59200** | **6156800** |
| RTX CORP | **28457** | **5219014** |
| RUSH ENTERPRISES INC | **2439** | **131560** |
| RYANAIR HOLDINGS PLC ADR | **29998** | **2165556** |
| RYDER SYSTEM INC | **6444** | **1233317** |
| SAFRAN SA | **5392** | **1883325** |
| SALESFORCE INC | **19645** | **5204157** |
| SAMPO OYJ | **121734** | **1476885** |
| SAMSUNG ELECTRONICS CO LTD GDR | **3635** | **7509910** |
| SANDVIK AB | **70628** | **2302987** |
| SANSAN INC | **40547** | **448553** |
| SAP SE | **6205** | **1518343** |
| SAVARA INC | **71547** | **431428** |
| SBI SHINSEI BANK LTD | **63300** | **702683** |
| SCHNEIDER ELECTRIC SE | **8967** | **2473801** |
| SCHOLAR ROCK HOLDING CORP | **24212** | **1066539** |
| SEA LTD ADR | **9690** | **1236153** |
| SEACOAST BANKING CORP OF FLORIDA | **57637** | **1810955** |
| SEADRILL LTD | **23805** | **823653** |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Held at End of Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | |
| **rate of interest, collateral, par, or maturity value** | **Shares / Par Value** | **Current Value** |
| SEMTECH CORP | **35584** | **2622185** |
| SERVICENOW INC | **23340** | **3575455** |
| SERVICETITAN INC | **19493** | **2076005** |
| SF HOLDING CO LTD HK/06936 | **293200** | **1306376** |
| SHAKE SHACK INC | **20810** | **1689148** |
| SHAWBROOK GROUP PLC | **140384** | **917682** |
| SHELL PLC | **167931** | **6188991** |
| SHIN-ETSU CHEMICAL CO LTD | **31256** | **971709** |
| SHIONOGI & CO LTD | **98000** | **1776248** |
| SHOPIFY INC | **103136** | **16601802** |
| SHORE BANCSHARES INC | **41797** | **738971** |
| SIEMENS AG | **10609** | **2979747** |
| SILICON LABORATORIES INC | **7380** | **964566** |
| SIMMONS FIRST NATIONAL CORP | **81225** | **1531091** |
| SINGAPORE TELECOMMUNICATIONS LTD | **394757** | **1396691** |
| SIRIUSPOINT LTD | **62179** | **1361098** |
| SITIME CORP | **4239** | **1497172** |
| SKANDINAVISKA ENSKILDA BANKEN | **167433** | **3543431** |
| SM ENERGY CO | **9181** | **171685** |
| SMARTFINANCIAL INC | **19216** | **710800** |
| SMITH DOUGLAS HOMES CORP | **27991** | **469409** |
| SNOWFLAKE INC | **9205** | **2019209** |
| SOCIETE GENERALE SA | **35720** | **2882897** |
| SOFI TECHNOLOGIES INC | **253708** | **6642075** |
| SOFTBANK GROUP CORP | **29072** | **816082** |
| SOLARIS ENERGY INFRASTRUCTURE | **14211** | **653280** |
| SOLENO THERAPEUTICS INC | **15225** | **704918** |
| SOLVENTUM CORP | **18370** | **1455639** |
| SOMNIGROUP INTERNATIONAL INC | **19290** | **1722211** |
| SOMPO HOLDINGS INC | **26655** | **907404** |
| SONOVA HOLDING AG | **5114** | **1336837** |
| SONY GROUP CORP | **244840** | **6285599** |
| SPIRE INC | **10278** | **849991** |
| SPOTIFY TECHNOLOGY SA | **10407** | **6043449** |
| SPRUCE BIOSCIENCES INC | **1819** | **158453** |
| SPYRE THERAPEUTICS INC | **22435** | **734971** |
| SS&C TECHNOLOGIES HOLDINGS INC | **36831** | **3219766** |
| SSE PLC | **76400** | **2239180** |
| SSR MINING INC | **25283** | **554203** |
| STANDARD CHARTERED PLC | **57167** | **1400981** |
| STANDARDAERO INC | **89400** | **2563992** |
| STARBUCKS CORP | **41607** | **3503725** |
| STEEL DYNAMICS INC | **32400** | **5490180** |
| STEPSTONE GROUP INC | **75122** | **4820579** |
| STOKE THERAPEUTICS INC | **18888** | **599505** |
| STRUCTURE THERAPEUTICS INC ADR | **23753** | **1652021** |
| SUMITOMO RUBBER INDUSTRIES LTD | **28093** | **432565** |
| SYMRISE AG | **15886** | **1285116** |
| SYNOPSYS INC | **4694** | **2204866** |
| SYNOVUS FINANCIAL CORP | **43419** | **2173121** |
| SYSCO CORP | **79591** | **5865061** |
| SYSMEX CORP | **184850** | **1819076** |
| TAIWAN SEMICONDUCTOR MANUFACTURING ADR | **52761** | **16033541** |
| TALANX AG | **10484** | **1401212** |
| TECHTRONIC INDUSTRIES CO LTD HK/00669 | **147500** | **1703636** |
| TECNOGLASS INC | **6788** | **341572** |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Held at End of Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | |
| **rate of interest, collateral, par, or maturity value** | **Shares / Par Value** | **Current Value** |
| TELEDYNE TECHNOLOGIES INC | **3646** | **1862122** |
| TELIA CO AB | **147328** | **629342** |
| TELKOM INDONESIA PERSERO TBK PT | **8996100** | **1877446** |
| TENCENT HOLDINGS LTD HK/00700 | **46600** | **3586227** |
| TERAWULF INC | **107912** | **1239909** |
| TEREX CORP | **22532** | **1202758** |
| TERNS PHARMACEUTICALS INC | **14441** | **583416** |
| TESCO PLC | **497432** | **2955955** |
| TESLA INC | **70404** | **31662087** |
| TEXAS INSTRUMENTS INC | **50005** | **8675367** |
| TEXAS ROADHOUSE INC | **29346** | **4871436** |
| TEXTRON INC | **46175** | **4025075** |
| THERMO FISHER SCIENTIFIC INC | **7860** | **4554477** |
| TOKYO ELECTRON LTD | **9353** | **2047880** |
| TOPBUILD CORP | **15891** | **6629566** |
| TORAY INDUSTRIES INC | **121600** | **791298** |
| TOTALENERGIES SE | **91346** | **5963768** |
| TOWNE BANK/PORTSMOUTH VA | **27416** | **914872** |
| TOYODA GOSEI CO LTD | **5900** | **148418** |
| TOYOTA TSUSHO CORP | **22200** | **746964** |
| TRACTOR SUPPLY CO | **79300** | **3965793** |
| TRAINLINE PLC | **29273** | **86780** |
| TRANE TECHNOLOGIES PLC | **5835** | **2270982** |
| TRANSDIGM GROUP INC | **798** | **1061220** |
| TRAVERE THERAPEUTICS INC | **15173** | **579760** |
| TREVI THERAPEUTICS INC | **55861** | **699380** |
| TREX CO INC | **65745** | **2306335** |
| TRIMBLE INC | **82025** | **6426659** |
| TRUIST FINANCIAL CORP | **137200** | **6751612** |
| TRUSTMARK CORP | **38294** | **1491551** |
| TURNING POINT BRANDS INC | **2017** | **218643** |
| TWILIO INC | **13571** | **1930339** |
| TWIST BIOSCIENCE CORP | **94509** | **2997825** |
| TYLER TECHNOLOGIES INC | **7726** | **3507218** |
| UBER TECHNOLOGIES INC | **25388** | **2074453** |
| UBS GROUP AG | **41170** | **1920660** |
| UCB SA | **7272** | **2037787** |
| ULTRAGENYX PHARMACEUTICAL INC | **11252** | **258796** |
| UNICHARM CORP | **212900** | **1215640** |
| UNICREDIT SPA | **31083** | **2588965** |
| UNILEVER PLC | **11581** | **756965** |
| UNION PACIFIC CORP | **24222** | **5603033** |
| UNITED COMMUNITY BANKS INC/GA | **27172** | **848310** |
| UNITED NATURAL FOODS INC | **16600** | **558922** |
| UNITED OVERSEAS BANK LTD | **21075** | **574564** |
| UNITIL CORP | **14261** | **690803** |
| UPSTART HOLDINGS INC | **8224** | **359636** |
| URANIUM ENERGY CORP | **40940** | **478179** |
| URBAN OUTFITTERS INC | **4846** | **364710** |
| US FOODS HOLDING CORP | **132538** | **9982762** |
| V2X INC | **21478** | **1171625** |
| VALARIS LTD | **4100** | **206640** |
| VALEO SE | **27665** | **378035** |
| VAXCYTE INC | **27125** | **1251548** |
| VERACYTE INC | **87048** | **3664721** |
| VERTEX INC | **66790** | **1333796** |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Held at End of Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | |
| **rate of interest, collateral, par, or maturity value** | **Shares / Par Value** | **Current Value** |
| VIAVI SOLUTIONS INC | **86150** | **1535193** |
| VIKING HOLDINGS LTD | **50640** | **3616202** |
| VINCI SA | **10397** | **1465901** |
| VIRIDIAN THERAPEUTICS INC | **18395** | **572452** |
| VISA INC | **18272** | **6408173** |
| VISTEON CORP | **3139** | **298519** |
| VISTRA CORP | **24228** | **3908703** |
| VITA COCO CO INC/THE | **21219** | **1124819** |
| VITAL FARMS INC | **11181** | **357121** |
| VOYA FINANCIAL INC | **4600** | **342654** |
| VOYAGER TECHNOLOGIES INC | **25241** | **659800** |
| WALMART INC | **111793** | **12454858** |
| WALT DISNEY CO/THE | **45409** | **5166182** |
| WARRIOR MET COAL INC | **8065** | **711091** |
| WASTE MANAGEMENT INC | **35265** | **7748073** |
| WATERS CORP | **5964** | **2265306** |
| WAYSTAR HOLDING CORP | **55288** | **1810682** |
| WEALTHFRONT CORP | **83028** | **1128351** |
| WERNER ENTERPRISES INC | **146466** | **4395445** |
| WESBANCO INC | **43014** | **1429785** |
| WESCO INTERNATIONAL INC | **8781** | **2148184** |
| WEST PHARMACEUTICAL SERVICES INC | **25382** | **6983603** |
| WESTERN DIGITAL CORP | **24092** | **4150329** |
| WESTLAKE CORP | **19450** | **1438133** |
| WHITE MOUNTAINS INSURANCE GROUP | **355** | **737701** |
| WILLIAMS-SONOMA INC | **15200** | **2714568** |
| WILLIS TOWERS WATSON PLC | **22250** | **7311350** |
| WINGSTOP INC | **15374** | **3666546** |
| WISDOMTREE INC | **168719** | **2056685** |
| WISE PLC | **43545** | **521861** |
| WIX.COM LTD | **24123** | **2506139** |
| WOODWARD INC | **15289** | **4622170** |
| WORTHINGTON ENTERPRISES INC | **4506** | **232374** |
| WORTHINGTON STEEL INC | **4405** | **152501** |
| XENON PHARMACEUTICALS INC | **21676** | **971518** |
| XERIS BIOPHARMA HOLDINGS INC | **67151** | **527135** |
| XYLEM INC/NY | **72814** | **9915811** |
| ZEBRA TECHNOLOGIES CORP | **13400** | **3253579** |
| ZOETIS INC | **38047** | **4787074** |
| ZSCALER INC | **11492** | **2584000** |
| **Total Common Stock** |  | $**2722145907** |
| **Mutual Funds** |  |  |
| DREYFUS INS RSRV PR MONEY 6546 | **73206974** | $**73206974** |
| ISHARES CORE MSCI EAFE ETF | **47873** | **4282719** |
| ISHARES RUSSELL 2000 ETF | **21245** | **5229669** |
| PIMCO FDS SHORT TERM FLTG NAV PORT II | **1267119** | **12692736** |
| **Total Mutual Funds** |  | $**95412098** |
| **Real Estate Investment Trusts** |  |  |
| AGREE REALTY CORP | **63190** | $**4551576** |
| ALEXANDRIA REAL ESTATE EQUITIES | **30650** | **1500011** |
| AMERICAN HEALTHCARE REIT INC | **142042** | **6684497** |
| AMERICAN HOMES 4 RENT | **110520** | **3547692** |
| AMERICOLD REALTY TRUST INC | **48470** | **623324** |
| BRIXMOR PROPERTY GROUP INC | **212820** | **5580140** |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Held at End of Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | |
| **rate of interest, collateral, par, or maturity value** | **Shares / Par Value** | **Current Value** |
| BROADSTONE NET LEASE INC | **82040** | **1425035** |
| BXP INC | **30000** | **2024400** |
| CAMDEN PROPERTY TRUST | **99600** | **10963968** |
| CARETRUST REIT INC | **66918** | **2419755** |
| CENTERSPACE | **23689** | **1580530** |
| COUSINS PROPERTIES INC | **114900** | **2962122** |
| CURBLINE PROPERTIES CORP | **46151** | **1071165** |
| DIAMONDROCK HOSPITALITY CO | **144050** | **1290688** |
| DIGITAL REALTY TRUST INC | **65940** | **10201577** |
| DIVERSIFIED HEALTHCARE TRUST | **96795** | **469456** |
| DOUGLAS EMMETT INC | **50950** | **559941** |
| EASTGROUP PROPERTIES INC | **7060** | **1257668** |
| EMPIRE STATE REALTY TRUST INC | **103990** | **678015** |
| EQUINIX INC | **18640** | **14281222** |
| EQUITY LIFESTYLE PROPERTIES INC | **151513** | **9183203** |
| EQUITY RESIDENTIAL | **48040** | **3028442** |
| ESSENTIAL PROPERTIES REALTY TRUST | **66259** | **1965242** |
| ESSEX PROPERTY TRUST INC | **10760** | **2815677** |
| EXTRA SPACE STORAGE INC | **94586** | **12316989** |
| FEDERAL REALTY INVESTMENT TRUST | **11790** | **1188432** |
| FIRST INDUSTRIAL REALTY TRUST | **42220** | **2417939** |
| HEALTHCARE REALTY TRUST INC | **132040** | **2238078** |
| HEALTHPEAK PROPERTIES INC | **114440** | **1840195** |
| HOST HOTELS & RESORTS INC | **170620** | **3025093** |
| INVENTRUST PROPERTIES CORP | **34050** | **960551** |
| INVITATION HOMES INC | **119630** | **3324518** |
| IRON MOUNTAIN INC | **55662** | **4617163** |
| KIMCO REALTY CORP | **261100** | **5292497** |
| KITE REALTY GROUP TRUST | **155050** | **3716549** |
| KKR REAL ESTATE FINANCE TRUST | **34812** | **286155** |
| KLEPIERRE SA | **48262** | **1912427** |
| LADDER CAPITAL CORP | **70674** | **776707** |
| LAMAR ADVERTISING CO | **61260** | **7754291** |
| LINEAGE INC | **11950** | **418250** |
| MACERICH CO/THE | **118500** | **2187510** |
| MILLROSE PROPERTIES INC | **5246** | **156698** |
| NATIONAL HEALTH INVESTORS INC | **27600** | **2107812** |
| NETSTREIT CORP | **95920** | **1692029** |
| NNN REIT INC | **163100** | **6463653** |
| OMEGA HEALTHCARE INVESTORS INC | **75240** | **3336142** |
| OUTFRONT MEDIA INC | **98808** | **2381273** |
| PHILLIPS EDISON & CO INC | **46560** | **1656139** |
| PIEDMONT REALTY TRUST INC | **102050** | **851097** |
| PROLOGIS INC | **129380** | **16516651** |
| PUBLIC STORAGE | **28940** | **7509930** |
| REALTY INCOME CORP | **106790** | **6019752** |
| REDWOOD TRUST INC | **65987** | **364908** |
| REXFORD INDUSTRIAL REALTY INC | **50470** | **1954198** |
| RLJ LODGING TRUST | **53840** | **401108** |
| RYMAN HOSPITALITY PROPERTIES INC | **7280** | **688834** |
| SABRA HEALTH CARE REIT INC | **61770** | **1169924** |
| SBA COMMUNICATIONS CORP | **28270** | **5468266** |
| SIMON PROPERTY GROUP INC | **35830** | **6632491** |
| SL GREEN REALTY CORP | **28982** | **1329404** |
| STOCKLAND | **518069** | **1979568** |
| SUNSTONE HOTEL INVESTORS INC | **42490** | **379861** |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Held at End of Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | |
| **rate of interest, collateral, par, or maturity value** | **Shares / Par Value** | **Current Value** |
| TANGER INC | **69657** | **2324454** |
| TPG RE FINANCE TRUST INC | **43549** | **374957** |
| UDR INC | **183300** | **6723444** |
| VENTAS INC | **121880** | **9431074** |
| VICI PROPERTIES INC | **113820** | **3200618** |
| VORNADO REALTY TRUST | **56090** | **1866675** |
| WELLTOWER INC | **109610** | **20344712** |
| XENIA HOTELS & RESORTS INC | **104510** | **1477158** |
| **Total Real Estate Investment Trusts** |  | $**259741520** |
| **Commodities** |  |  |
| GOLD BARS | **26** | $**11472280** |
| **Total Commodities** |  | $**11472280** |
| **Derivative Assets** |  |  |
| BRENT CRUDE FUTURE (ICE) EXP AUG 26 | **1324202** | $**–** |
| BRENT CRUDE FUTURE (ICE) EXP JUL 26 | **1324862** | **–** |
| BRENT CRUDE FUTURE (ICE) EXP JUN 26 | **1566526** | **–** |
| BRENT CRUDE FUTURE (ICE) EXP MAR 26 | **182553** | **–** |
| BRENT CRUDE FUTURE (ICE) EXP OCT 26 | **722052** | **–** |
| BRENT CRUDE FUTURE (ICE) EXP SEP 26 | **1022907** | **–** |
| BRENT CRUDE OIL (ICE) EXP DEC 26 | **2469061** | **–** |
| CCA VINTAGE 2026 FUTURE (IFE) EXP DEC 26 | **4192128** | **–** |
| COCOA FUTURE (NYB) EXP MAR 26 | **1213020** | **–** |
| COPPER FUTURE (CMX) EXP MAR 26 | **426153** | **–** |
| ECX EMISSION FUTURE (EDX) EXP DEC 26 | **615676** | **–** |
| GASOLINE RBOB FUTURE (NYM) EXP JUN 26 | **246724** | **–** |
| GOLD 100 OZ FUTURE (CMX) EXP APR 26 | **1312173** | **–** |
| HEATING OIL FUTURE (NYM) EXP MAR 26 | **88344** | **–** |
| HENRY HB LD1 (IFE) EXP FEB 31 | **20527** | **–** |
| HENRY HB LD1 (IFE) EXP JAN 31 | **21987** | **–** |
| HENRY HB LD1 FUT (IFE) EXP APR 31 | **15137** | **–** |
| HENRY HB LD1 FUT (IFE) EXP AUG 31 | **16747** | **–** |
| HENRY HB LD1 FUT (IFE) EXP DEC 31 | **20297** | **–** |
| HENRY HB LD1 FUT (IFE) EXP JUN 31 | **15687** | **–** |
| HENRY HB LD1 FUT (IFE) EXP MAR 31 | **17367** | **–** |
| HENRY HB LD1 FUT (IFE) EXP MAY 31 | **14947** | **–** |
| HENRY HB LD1 FUT (IFE) EXP NOV 31 | **18137** | **–** |
| HENRY HB LD1 FUT (IFE) EXP OCT 31 | **17052** | **–** |
| HENRY HB LD1 FUT (IFE) EXP SEP 31 | **16677** | **–** |
| HENRY HUB LD1 FUT (IFE) EXP JUL 31 | **16492** | **–** |
| IRON ORE 62% (SGX) EXP MAR 26 | **136253** | **–** |
| KC HRW WHEAT FUTURE (CBT) EXP MAR 26 | **875109** | **–** |
| KC HRW WHEAT FUTURE (CBT) EXP MAY 26 | **26401** | **–** |
| LIVE CATTLE FUTURE (CME) EXP APR 26 | **1300334** | **–** |
| MT BELV ETHAN 5DE FUTURE (NYM) EXP FEB 26 | **72772** | **–** |
| NATURAL GAS FUTURE (NYM) EXP MAR 26 | **93903** | **–** |
| NATURAL GAS FUTURE (NYM) EXP APR 27 | **136364** | **–** |
| NATURAL GAS FUTURE (NYM) EXP MAR 27 | **148004** | **–** |
| NATURAL GAS FUTURE (NYM) EXP MAY 26 | **258408** | **–** |
| NICKEL FUTURE (LME) EXP MAR 26 | **399338** | **–** |
| PALLADIUM FUTURE (NYM) EXP MAR 26 | **165141** | **–** |
| PLATINUM FUTURE (NYM) EXP APR 26 | **204422** | **–** |
| SOYBEAN FUTURE (CBT) EXP JUL 26 | **322281** | **–** |
| SOYBEAN FUTURE (CBT) EXP MAR 26 | **576136** | **–** |
| SOYBEAN MEAL FUTURE (CBT) EXP MAR 26 | **1946165** | **–** |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Held at End of Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | |
| **rate of interest, collateral, par, or maturity value** | **Shares / Par Value** | **Current Value** |
| TRS EL BACVWSAV INDEX P 0% -55 BPS 2026 MAR 31 | **732999** | **3332** |
| TRS EL SPGCESTR INDEX P TBILDI3M +16BPS 2026 JUL 15 | **17047831** | **348935** |
| TRS EL SPGCESTR INDEX P TBILDI3M +16BPS 2026 MAR 16 | **43170943** | **915138** |
| TRS EL SPGCESTR INDEX P TBILDI3M +16BPS 2026 SEP 15 | **36979276** | **777156** |
| TRS EL SPGCESTR INDEX P TBILDI3M +17BPS 2026 DEC 15 | **8754268** | **184067** |
| TRS EL SPGCESTR INDEX P TBILDI3M +17BPS 2026 MAY 15 | **16222510** | **341094** |
| US 10YR TREAS NTS FUTURE (CBT) EXP MAR 26 | **2810963** | **–** |
| US 2YR TREAS NTS FUT (CBT) EXP MAR 26 | **93746738** | **–** |
| US 5YR TREAS NTS FUTURE (CBT) EXP MAR 26 | **1420974** | **–** |
| VARS GOLDLNPM 0.004431025 2026 JAN 19 | **120000** | **–** |
| VARS GOLDLNPM 0.059049 2026 JAN 19 | **300000** | **–** |
| VARS GOLDLNPM 0.06325225 JPM 2026 APR 10 | **7078000** | **222186** |
| WTI CRUDE FUTURE (NYM) EXP AUG 26 | **1254902** | **–** |
| WTI CRUDE FUTURE (NYM) EXP DEC 26 | **1650709** | **–** |
| WTI CRUDE FUTURE (NYM) EXP JUL 26 | **1026738** | **–** |
| WTI CRUDE FUTURE (NYM) EXP SEP 26 | **172563** | **–** |
| WTI CRUDE FUTURE (NYM) MAR 26 PUT JAN 26 050.000 ED 01/27/26 | **3** | **–** |
| ZINC FUTURE (LME) EXP MAR 26 | **389870** | **–** |
| **Total Derivative Assets** |  | $**2791908** |
| **Total Investment Assets (at fair value)** |  | $**14339738805** |
| **Separately Managed Accounts** |  |  |
| **Derivative Liabilities** |  |  |
| ALUMINUM HG FUTURE (LME) EXP MAR 26 | **449177** | $**–** |
| BRENT CRUDE FUT (ICE) APR 26 CALL APR 26 070.000 ED 02/24/26 | **10** | **–** |
| BRENT CRUDE FUT (ICE) MAR 26 CALL MAR 26 067.000 ED 01/27/26 | **3** | **–** |
| BRENT CRUDE FUT (ICE) MAR 26 CALL MAR 26 071.000 ED 01/27/26 | **3** | **–** |
| BRENT CRUDE FUTURE (ICE) EXP DEC 27 | **367806** | **–** |
| BRENT CRUDE FUTURE (ICE) EXP DEC 28 | **314505** | **–** |
| BRENT CRUDE FUTURE (ICE) EXP FEB 27 | **662761** | **–** |
| BRENT CRUDE FUTURE (ICE) EXP JAN 27 | **602310** | **–** |
| BRENT CRUDE FUTURE (ICE) EXP MAY 26 | **603210** | **–** |
| BRENT CRUDE FUTURE (ICE) MAR 26 CALL JAN 26 066.000 ED 01/27/26 | **7** | **–** |
| BRENT CRUDE OIL (ICE) EXP APR 26 | **604910** | **–** |
| BRENT CRUDE OIL (ICE) EXP JUN 27 | **908865** | **–** |
| BRENT CRUDE OIL (ICE) EXP NOV 26 | **662101** | **–** |
| COFFEE 'C' FUTURE (NYB) EXP JUL 26 | **244502** | **–** |
| COFFEE 'C' FUTURE (NYB) EXP MAR 26 | **130782** | **–** |
| COMMIT TO PUR FNMA SF MTG 5.500% 02/01/56 DD 02/01/26 | **2200000** | **(30070)** |
| CORN FUTURE (CBT) EXP DEC 26 | **184208** | **–** |
| CORN FUTURE (CBT) EXP JUL 26 | **522698** | **–** |
| CORN FUTURE (CBT) EXP MAR 26 | **2025242** | **–** |
| COTTON NO 2 FUTURE (NYB) EXP JUL 26 | **200496** | **–** |
| COTTON NO 2 FUTURE (NYB) EXP MAR 26 | **449904** | **–** |
| CRUDE OIL FUTURE (NYM) EXP DEC 27 | **1446525** | **–** |
| GAS OIL FUTURE (ICE) EXP JUN 26 | **1022567** | **–** |
| GASOLINE RBOB FUTURE (NYM) EXP MAR 26 | **658296** | **–** |
| GOLD 100 OZ FUTURE (CMX) EXP FEB 26 | **10418664** | **–** |
| HEATING OIL FUTURE (NYM) EXP JUN 26 | **256363** | **–** |
| HENRY HB LD1 (IFE) EXP FEB 26 | **59586** | **–** |
| KC HRW WHEAT FUTURE (CBT) EXP JUL 26 | **135505** | **–** |
| LEAD FUTURE (LME) EXP MAR 26 | **702706** | **–** |
| LEAN HOGS FUTURE (CME) EXP APR 26 | **755181** | **–** |
| LOW SU GASOIL G FUTURE (ICE) EXP MAR 26 | **1108368** | **–** |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Held at End of Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | |
| **rate of interest, collateral, par, or maturity value** | **Shares / Par Value** | **Current Value** |
| NATURAL GAS FUTURE (ICE) EXP MAR 26 | **431762** | **–** |
| NATURAL GAS FUTURE (NYM) EXP APR 26 | **693682** | **–** |
| NATURAL GAS FUTURE (NYM) EXP JAN 27 | **376168** | **–** |
| NATURAL GAS FUTURE (NYM) EXP JUL 26 | **73422** | **–** |
| SILVER FUTURE (CMX) EXP MAR 26 | **1412064** | **–** |
| SNG KEROS V SNG GA FUT (ISF) EXP DEC 25 | **162** | **–** |
| SNG KEROS VS SNG GASOIL (ISF) EXP APR 26 | **781** | **–** |
| SNG KEROS VS SNG GASOIL (ISF) EXP DEC 26 | **121** | **–** |
| SNG KEROS VS SNG GASOIL (ISF) EXP FEB 26 | **123** | **–** |
| SNG KEROS VS SNG GASOIL (ISF) EXP JAN 26 | **4907** | **–** |
| SNG KEROS VS SNG GASOIL (ISF) EXP JUN 26 | **771** | **–** |
| SNG KEROS VS SNG GASOIL (ISF) EXP MAR 26 | **942** | **–** |
| SNG KEROS VS SNG GASOIL (ISF) EXP MAY 26 | **821** | **–** |
| SNG KEROS VS SNG GASOIL (ISF) EXP NOV 26 | **261** | **–** |
| SNG KEROS VS SNG GASOIL (ISF) EXP OCT 26 | **401** | **–** |
| SOYBEAN FUTURE (CBT) EXP NOV 26 | **53226** | **–** |
| SOYBEAN MEAL FUTURE (CBT) EXP JUL 26 | **61902** | **–** |
| SOYBEAN OIL FUTURE (CBT) EXP JUL 26 | **326447** | **–** |
| SOYBEAN OIL FUTURE (CBT) EXP MAR 26 | **320507** | **–** |
| SUGAR #11 WORLD FUTURE (NYB) EXP JUL 26 | **428381** | **–** |
| SUGAR #11 WORLD FUTURE (NYB) EXP MAR 26 | **84061** | **–** |
| TRS EL BCOMF1NTC INDEX P 0% +12BPS 2026 MAR 16 | **7173746** | **(1994)** |
| TRS EL JMABFNJ2 EQUITY P 0% 2026 JAN 30 | **1785484** | **(21563)** |
| TRS FL BACVWSAV INDEX P 0% -55 BPS 2026 MAR 31 | **4211** | **(33)** |
| TRS FL BCOMF1NTC INDEX P 0% +12BPS 2026 MAR 16 | **56439** | **–** |
| TRS FL JMABFNJ2 EQUITY P 0% 2026 JAN 30 | **17294** | **–** |
| TRS FL SPGCESTR INDEX P TBILDI3M +16BPS 2026 JUL 15 | **24567** | **–** |
| TRS FL SPGCESTR INDEX P TBILDI3M +16BPS 2026 MAR 16 | **64432** | **–** |
| TRS FL SPGCESTR INDEX P TBILDI3M +16BPS 2026 SEP 15 | **54715** | **–** |
| TRS FL SPGCESTR INDEX P TBILDI3M +17BPS 2026 DEC 15 | **12962** | **–** |
| TRS FL SPGCESTR INDEX P TBILDI3M +17BPS 2026 MAY 15 | **24020** | **–** |
| TTF NAT GAS F FUTURE (EDX) EXP MAR 26 | **606297** | **–** |
| ULTRA 10YR US TREAS NT FUT CBT EXP MAR 26 | **5865848** | **–** |
| US 10YR TREAS NTS FUTURE (CBT) EXP MAR 26 | **12930428** | **–** |
| US 5YR TREAS NTS FUTURE (CBT) EXP MAR 26 | **5574590** | **–** |
| US TREAS BD FUTURE (CBT) EXP MAR 26 | **2080706** | **–** |
| US ULTRA BOND (CBT) EXP MAR 26 | **590005** | **–** |
| VARS GOLDLNPM 0.004431025 2026 JAN 19 | **120000** | **–** |
| VARS GOLDLNPM 0.059049 2026 JAN 19 | **300000** | **–** |
| VARS GOLDLNPM 0.06325225 JPM 2026 APR 10 | **7078000** | **–** |
| WHEAT FUTURE (CBT) EXP JUL 26 | **53127** | **–** |
| WHEAT FUTURE (CBT) EXP MAR 26 | **2053431** | **–** |
| WHEAT FUTURE (CBT) EXP MAY 26 | **77778** | **–** |
| WTI CRUDE FUTURE (ICE) EXP DEC 26 | **113842** | **–** |
| WTI CRUDE FUTURE (ICE) EXP JUN 26 | **342066** | **–** |
| WTI CRUDE FUTURE (ICE) EXP MAR 26 | **114442** | **–** |
| WTI CRUDE FUTURE (NYM) EXP APR 26 | **627781** | **–** |
| WTI CRUDE FUTURE (NYM) EXP FEB 26 | **401947** | **–** |
| WTI CRUDE FUTURE (NYM) EXP JAN 27 | **113822** | **–** |
| WTI CRUDE FUTURE (NYM) EXP JUN 26 | **855165** | **–** |
| WTI CRUDE FUTURE (NYM) EXP JUN 27 | **572610** | **–** |
| WTI CRUDE FUTURE (NYM) EXP MAR 26 | **457768** | **–** |
| WTI CRUDE FUTURE (NYM) EXP MAY 26 | **114002** | **–** |
| WTI CRUDE FUTURE (NYM) EXP NOV 26 | **512289** | **–** |
| WTI CRUDE FUTURE (NYM) EXP OCT 26 | **569510** | **–** |
| WTI CRUDE FUTURE (NYM) ED FEB 26 CALL JAN 26 067.000 ED 01/14/26 | **3** | **–** |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Held at End of Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | |
| **rate of interest, collateral, par, or maturity value** | **Shares / Par Value** | **Current Value** |
| WTI CRUDE FUTURE (NYM) EXP FEB 26 CALL JAN 26 068.000 ED 01/14/26 | **2** | **–** |
| WTI CRUDE FUTURE (NYM) MAR 26 CALL JAN 26 064.000 ED 01/27/26 | **3** | **–** |
| WTI CRUDE FUTURE FEB 26 CALL FEB 26 065.000 ED 01/14/26 | **4** | **–** |
| **Total Derivative Liabilities** |  | $**(53660)** |
| **Total Investment Liabilities (at fair value)** |  | $**(53660)** |
| **Total Investment Assets less Investment Liabilities** |  | $**14339685145** |
| **\*Notes Receivable from Participants with interest rates ranging from 4.25% to 9.50% with maturities up to 30 years** |  | $**31465584** |
| **Total Investments, net** |  | $**14371150729** |
| \* Denotes party-in-interest |  |  |
| Note: Par value is reflected in the underlying currency of the security, where applicable. |  |  |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Acquired and Disposed of Within Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | **Proceeds of** |
| &nbsp;&nbsp;**rate of interest, collateral, par or maturity value** | **Shares / Par Value** | **Dispositions** |
| **Securities Purchased Under Agreements to Resell** | | |
| BARCLAYS CAPITAL REV REPO 4.350% 10/17/25 DD 10/16/25 | **60900000** | $**60900000** |
| BNP PARIBAS REV REPO 4.230% 05/23/25 DD 05/22/25 | **10300000** | **10300000** |
| BNP PARIBAS REV REPO 4.250% 05/22/25 DD 05/21/25 | **70200000** | **70200000** |
| BNP PARIBAS REV REPO 4.250% 05/23/25 DD 05/22/25 | **59900000** | **59900000** |
| BNP PARIBAS REV REPO 4.270% 05/21/25 DD 05/20/25 | **8400000** | **8400000** |
| BNP PARIBAS REV REPO 4.270% 07/23/25 DD 07/22/25 | **75300000** | **75300000** |
| BNP PARIBAS REV REPO 4.280% 06/06/25 DD 06/05/25 | **10600000** | **10600000** |
| BNP PARIBAS REV REPO 4.280% 06/16/25 DD 06/13/25 | **63200000** | **63200000** |
| BNP PARIBAS REV REPO 4.280% 06/23/25 DD 06/20/25 | **80400000** | **80400000** |
| BNP PARIBAS REV REPO 4.280% 06/24/25 DD 06/23/25 | **68800000** | **68800000** |
| BNP PARIBAS REV REPO 4.290% 06/06/25 DD 06/05/25 | **60300000** | **60300000** |
| BNP PARIBAS REV REPO 4.290% 06/10/25 DD 06/09/25 | **60600000** | **60600000** |
| BNP PARIBAS REV REPO 4.290% 06/11/25 DD 06/10/25 | **61500000** | **61500000** |
| BNP PARIBAS REV REPO 4.290% 06/16/25 DD 06/13/25 | **11400000** | **11400000** |
| BNP PARIBAS REV REPO 4.290% 06/20/25 DD 06/18/25 | **100000** | **100000** |
| BNP PARIBAS REV REPO 4.300% 03/13/25 DD 03/12/25 | **70100000** | **70100000** |
| BNP PARIBAS REV REPO 4.300% 05/27/25 DD 05/23/25 | **10200000** | **10200000** |
| BNP PARIBAS REV REPO 4.310% 01/10/25 DD 01/09/25 | **5600000** | **5600000** |
| BNP PARIBAS REV REPO 4.310% 06/04/25 DD 06/03/25 | **9600000** | **9600000** |
| BNP PARIBAS REV REPO 4.310% 06/05/25 DD 06/04/25 | **59000000** | **59000000** |
| BNP PARIBAS REV REPO 4.310% 06/17/25 DD 06/16/25 | **63600000** | **63600000** |
| BNP PARIBAS REV REPO 4.310% 06/18/25 DD 06/17/25 | **65400000** | **65400000** |
| BNP PARIBAS REV REPO 4.310% 07/22/25 DD 07/21/25 | **11100000** | **11100000** |
| BNP PARIBAS REV REPO 4.310% 07/24/25 DD 07/23/25 | **10800000** | **10800000** |
| BNP PARIBAS REV REPO 4.320% 01/13/25 DD 01/10/25 | **44700000** | **44700000** |
| BNP PARIBAS REV REPO 4.320% 02/26/25 DD 02/25/25 | **71200000** | **71200000** |
| BNP PARIBAS REV REPO 4.320% 03/12/25 DD 03/11/25 | **70200000** | **70200000** |
| BNP PARIBAS REV REPO 4.320% 06/05/25 DD 06/04/25 | **11100000** | **11100000** |
| BNP PARIBAS REV REPO 4.320% 06/11/25 DD 06/10/25 | **11000000** | **11000000** |
| BNP PARIBAS REV REPO 4.320% 06/17/25 DD 06/16/25 | **10500000** | **10500000** |
| BNP PARIBAS REV REPO 4.320% 06/20/25 DD 06/18/25 | **12600000** | **12600000** |
| BNP PARIBAS REV REPO 4.320% 06/26/25 DD 06/25/25 | **66500000** | **66500000** |
| BNP PARIBAS REV REPO 4.320% 07/21/25 DD 07/18/25 | **60600000** | **60600000** |
| BNP PARIBAS REV REPO 4.320% 08/21/25 DD 08/20/25 | **57000000** | **57000000** |
| BNP PARIBAS REV REPO 4.330% 01/15/25 DD 01/14/25 | **7400000** | **7400000** |
| BNP PARIBAS REV REPO 4.330% 01/17/25 DD 01/16/25 | **6900000** | **6900000** |
| BNP PARIBAS REV REPO 4.330% 02/18/25 DD 02/14/25 | **56100000** | **56100000** |
| BNP PARIBAS REV REPO 4.330% 06/13/25 DD 06/12/25 | **72600000** | **72600000** |
| BNP PARIBAS REV REPO 4.330% 07/10/25 DD 07/09/25 | **10900000** | **10900000** |
| BNP PARIBAS REV REPO 4.330% 07/11/25 DD 07/10/25 | **63100000** | **63100000** |
| BNP PARIBAS REV REPO 4.330% 07/15/25 DD 07/14/25 | **62900000** | **62900000** |
| BNP PARIBAS REV REPO 4.330% 08/22/25 DD 08/21/25 | **59500000** | **59500000** |
| BNP PARIBAS REV REPO 4.340% 01/14/25 DD 01/13/25 | **5600000** | **5600000** |
| BNP PARIBAS REV REPO 4.340% 02/12/25 DD 02/11/25 | **68300000** | **68300000** |
| BNP PARIBAS REV REPO 4.340% 02/25/25 DD 02/24/25 | **70900000** | **70900000** |
| BNP PARIBAS REV REPO 4.340% 03/05/25 DD 03/04/25 | **65100000** | **65100000** |
| BNP PARIBAS REV REPO 4.340% 06/18/25 DD 06/17/25 | **13100000** | **13100000** |
| BNP PARIBAS REV REPO 4.340% 07/07/25 DD 07/03/25 | **10400000** | **10400000** |
| BNP PARIBAS REV REPO 4.340% 07/09/25 DD 07/08/25 | **63200000** | **63200000** |
| BNP PARIBAS REV REPO 4.340% 07/10/25 DD 07/09/25 | **63200000** | **63200000** |
| BNP PARIBAS REV REPO 4.340% 08/29/25 DD 08/28/25 | **10600000** | **10600000** |
| BNP PARIBAS REV REPO 4.350% 01/06/25 DD 01/03/25 | **6100000** | **6100000** |
| BNP PARIBAS REV REPO 4.350% 01/27/25 DD 01/24/25 | **6400000** | **6400000** |
| BNP PARIBAS REV REPO 4.350% 06/04/25 DD 06/03/25 | **58900000** | **58900000** |
| BNP PARIBAS REV REPO 4.350% 07/11/25 DD 07/10/25 | **11000000** | **11000000** |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Acquired and Disposed of Within Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | **Proceeds of** |
| &nbsp;&nbsp;**rate of interest, collateral, par or maturity value** | **Shares / Par Value** | **Dispositions** |
| BNP PARIBAS REV REPO 4.350% 07/25/25 DD 07/24/25 | **11200000** | **11200000** |
| BNP PARIBAS REV REPO 4.350% 07/31/25 DD 07/30/25 | **63100000** | **63100000** |
| BNP PARIBAS REV REPO 4.350% 08/06/25 DD 08/05/25 | **100000** | **100000** |
| BNP PARIBAS REV REPO 4.350% 08/08/25 DD 08/07/25 | **60000000** | **60000000** |
| BNP PARIBAS REV REPO 4.350% 08/11/25 DD 08/08/25 | **100000** | **100000** |
| BNP PARIBAS REV REPO 4.350% 08/12/25 DD 08/11/25 | **70300000** | **70300000** |
| BNP PARIBAS REV REPO 4.360% 02/06/25 DD 02/05/25 | **42300000** | **42300000** |
| BNP PARIBAS REV REPO 4.360% 02/10/25 DD 02/07/25 | **41100000** | **41100000** |
| BNP PARIBAS REV REPO 4.360% 02/20/25 DD 02/19/25 | **69700000** | **69700000** |
| BNP PARIBAS REV REPO 4.360% 05/28/25 DD 05/27/25 | **10200000** | **10200000** |
| BNP PARIBAS REV REPO 4.360% 05/30/25 DD 05/29/25 | **100000** | **100000** |
| BNP PARIBAS REV REPO 4.360% 07/17/25 DD 07/16/25 | **47700000** | **47700000** |
| BNP PARIBAS REV REPO 4.360% 08/04/25 DD 08/01/25 | **100000** | **100000** |
| BNP PARIBAS REV REPO 4.360% 08/20/25 DD 08/19/25 | **9600000** | **9600000** |
| BNP PARIBAS REV REPO 4.360% 08/21/25 DD 08/20/25 | **11400000** | **11400000** |
| BNP PARIBAS REV REPO 4.360% 08/22/25 DD 08/21/25 | **10300000** | **10300000** |
| BNP PARIBAS REV REPO 4.370% 01/23/25 DD 01/22/25 | **5400000** | **5400000** |
| BNP PARIBAS REV REPO 4.370% 02/05/25 DD 02/04/25 | **41800000** | **41800000** |
| BNP PARIBAS REV REPO 4.370% 02/18/25 DD 02/14/25 | **13500000** | **13500000** |
| BNP PARIBAS REV REPO 4.370% 02/24/25 DD 02/21/25 | **71200000** | **71200000** |
| BNP PARIBAS REV REPO 4.370% 03/11/25 DD 03/10/25 | **69500000** | **69500000** |
| BNP PARIBAS REV REPO 4.370% 06/02/25 DD 05/30/25 | **9700000** | **9700000** |
| BNP PARIBAS REV REPO 4.370% 07/08/25 DD 07/07/25 | **11700000** | **11700000** |
| BNP PARIBAS REV REPO 4.370% 07/16/25 DD 07/15/25 | **63200000** | **63200000** |
| BNP PARIBAS REV REPO 4.370% 07/28/25 DD 07/25/25 | **11100000** | **11100000** |
| BNP PARIBAS REV REPO 4.370% 07/31/25 DD 07/30/25 | **11100000** | **11100000** |
| BNP PARIBAS REV REPO 4.370% 08/04/25 DD 08/01/25 | **9700000** | **9700000** |
| BNP PARIBAS REV REPO 4.370% 08/05/25 DD 08/04/25 | **8700000** | **8700000** |
| BNP PARIBAS REV REPO 4.370% 08/07/25 DD 08/06/25 | **9600000** | **9600000** |
| BNP PARIBAS REV REPO 4.370% 08/13/25 DD 08/12/25 | **10400000** | **10400000** |
| BNP PARIBAS REV REPO 4.370% 08/14/25 DD 08/13/25 | **10500000** | **10500000** |
| BNP PARIBAS REV REPO 4.380% 02/07/25 DD 02/06/25 | **41700000** | **41700000** |
| BNP PARIBAS REV REPO 4.380% 03/10/25 DD 03/07/25 | **69600000** | **69600000** |
| BNP PARIBAS REV REPO 4.380% 07/07/25 DD 07/03/25 | **62100000** | **62100000** |
| BNP PARIBAS REV REPO 4.380% 08/06/25 DD 08/05/25 | **10000000** | **10000000** |
| BNP PARIBAS REV REPO 4.390% 01/28/25 DD 01/27/25 | **3900000** | **3900000** |
| BNP PARIBAS REV REPO 4.390% 01/31/25 DD 01/30/25 | **6400000** | **6400000** |
| BNP PARIBAS REV REPO 4.390% 06/03/25 DD 06/02/25 | **59100000** | **59100000** |
| BNP PARIBAS REV REPO 4.390% 07/09/25 DD 07/08/25 | **11000000** | **11000000** |
| BNP PARIBAS REV REPO 4.390% 08/08/25 DD 08/07/25 | **10300000** | **10300000** |
| BNP PARIBAS REV REPO 4.390% 08/11/25 DD 08/08/25 | **10300000** | **10300000** |
| BNP PARIBAS REV REPO 4.390% 08/19/25 DD 08/18/25 | **10900000** | **10900000** |
| BNP PARIBAS REV REPO 4.390% 09/02/25 DD 08/29/25 | **10700000** | **10700000** |
| BNP PARIBAS REV REPO 4.400% 01/30/25 DD 01/29/25 | **45400000** | **45400000** |
| BNP PARIBAS REV REPO 4.400% 03/07/25 DD 03/06/25 | **69500000** | **69500000** |
| BNP PARIBAS REV REPO 4.400% 06/27/25 DD 06/26/25 | **61100000** | **61100000** |
| BNP PARIBAS REV REPO 4.400% 08/18/25 DD 08/15/25 | **10300000** | **10300000** |
| BNP PARIBAS REV REPO 4.400% 08/27/25 DD 08/26/25 | **10600000** | **10600000** |
| BNP PARIBAS REV REPO 4.400% 08/28/25 DD 08/27/25 | **61700000** | **61700000** |
| BNP PARIBAS REV REPO 4.400% 09/03/25 DD 09/02/25 | **100000** | **100000** |
| BNP PARIBAS REV REPO 4.410% 01/29/25 DD 01/28/25 | **4900000** | **4900000** |
| BNP PARIBAS REV REPO 4.410% 06/26/25 DD 06/25/25 | **5700000** | **5700000** |
| BNP PARIBAS REV REPO 4.420% 07/03/25 DD 07/02/25 | **100000** | **100000** |
| BNP PARIBAS REV REPO 4.420% 08/25/25 DD 08/22/25 | **10400000** | **10400000** |
| BNP PARIBAS REV REPO 4.420% 08/28/25 DD 08/27/25 | **9600000** | **9600000** |
| BNP PARIBAS REV REPO 4.420% 09/03/25 DD 09/02/25 | **10900000** | **10900000** |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Acquired and Disposed of Within Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | **Proceeds of** |
| &nbsp;&nbsp;**rate of interest, collateral, par or maturity value** | **Shares / Par Value** | **Dispositions** |
| BNP PARIBAS REV REPO 4.420% 09/08/25 DD 09/05/25 | **63400000** | **63400000** |
| BNP PARIBAS REV REPO 4.430% 03/03/25 DD 02/28/25 | **68900000** | **68900000** |
| BNP PARIBAS REV REPO 4.430% 06/27/25 DD 06/26/25 | **10600000** | **10600000** |
| BNP PARIBAS REV REPO 4.430% 06/30/25 DD 06/27/25 | **61500000** | **61500000** |
| BNP PARIBAS REV REPO 4.430% 07/01/25 DD 06/30/25 | **100000** | **100000** |
| BNP PARIBAS REV REPO 4.430% 07/02/25 DD 07/01/25 | **100000** | **100000** |
| BNP PARIBAS REV REPO 4.430% 07/16/25 DD 07/15/25 | **10700000** | **10700000** |
| BNP PARIBAS REV REPO 4.430% 07/29/25 DD 07/28/25 | **10400000** | **10400000** |
| BNP PARIBAS REV REPO 4.430% 08/01/25 DD 07/31/25 | **74400000** | **74400000** |
| BNP PARIBAS REV REPO 4.460% 09/05/25 DD 09/04/25 | **10200000** | **10200000** |
| BNP PARIBAS REV REPO 4.470% 07/01/25 DD 06/30/25 | **11000000** | **11000000** |
| BNP PARIBAS REV REPO 4.480% 07/02/25 DD 07/01/25 | **10900000** | **10900000** |
| J P MORGAN CHASE REV REPO 3.720% 12/18/25 DD 12/17/25 | **69100000** | **69100000** |
| J P MORGAN CHASE REV REPO 3.890% 11/10/25 DD 11/07/25 | **11000000** | **11000000** |
| J P MORGAN CHASE REV REPO 3.910% 11/12/25 DD 11/10/25 | **100000** | **100000** |
| J P MORGAN CHASE REV REPO 3.930% 11/21/25 DD 11/20/25 | **66100000** | **66100000** |
| J P MORGAN CHASE REV REPO 3.940% 11/24/25 DD 11/21/25 | **62500000** | **62500000** |
| J P MORGAN CHASE REV REPO 3.960% 11/20/25 DD 11/19/25 | **66200000** | **66200000** |
| J P MORGAN CHASE REV REPO 3.960% 11/24/25 DD 11/21/25 | **10300000** | **10300000** |
| J P MORGAN CHASE REV REPO 3.970% 11/10/25 DD 11/07/25 | **62000000** | **62000000** |
| J P MORGAN CHASE REV REPO 3.970% 12/05/25 DD 12/04/25 | **62800000** | **62800000** |
| J P MORGAN CHASE REV REPO 3.970% 12/08/25 DD 12/05/25 | **100000** | **100000** |
| J P MORGAN CHASE REV REPO 3.980% 11/25/25 DD 11/24/25 | **62000000** | **62000000** |
| J P MORGAN CHASE REV REPO 3.990% 11/12/25 DD 11/10/25 | **62200000** | **62200000** |
| J P MORGAN CHASE REV REPO 4.010% 12/09/25 DD 12/08/25 | **63400000** | **63400000** |
| J P MORGAN CHASE REV REPO 4.020% 11/19/25 DD 11/18/25 | **62900000** | **62900000** |
| J P MORGAN CHASE REV REPO 4.030% 11/13/25 DD 11/12/25 | **62200000** | **62200000** |
| J P MORGAN CHASE REV REPO 4.040% 11/18/25 DD 11/17/25 | **100000** | **100000** |
| J P MORGAN CHASE REV REPO 4.040% 11/26/25 DD 11/25/25 | **61300000** | **61300000** |
| J P MORGAN CHASE REV REPO 4.050% 11/14/25 DD 11/13/25 | **62500000** | **62500000** |
| J P MORGAN CHASE REV REPO 4.090% 12/03/25 DD 12/02/25 | **62500000** | **62500000** |
| J P MORGAN CHASE REV REPO 4.120% 10/31/25 DD 10/30/25 | **62400000** | **62400000** |
| J P MORGAN CHASE REV REPO 4.150% 09/24/25 DD 09/23/25 | **10700000** | **10700000** |
| J P MORGAN CHASE REV REPO 4.160% 11/05/25 DD 11/04/25 | **63000000** | **63000000** |
| J P MORGAN CHASE REV REPO 4.170% 10/10/25 DD 10/09/25 | **100000** | **100000** |
| J P MORGAN CHASE REV REPO 4.180% 09/22/25 DD 09/19/25 | **63800000** | **63800000** |
| J P MORGAN CHASE REV REPO 4.180% 09/24/25 DD 09/23/25 | **100000** | **100000** |
| J P MORGAN CHASE REV REPO 4.190% 09/23/25 DD 09/22/25 | **100000** | **100000** |
| J P MORGAN CHASE REV REPO 4.190% 10/09/25 DD 10/08/25 | **62400000** | **62400000** |
| J P MORGAN CHASE REV REPO 4.190% 10/15/25 DD 10/14/25 | **62800000** | **62800000** |
| J P MORGAN CHASE REV REPO 4.200% 11/03/25 DD 10/31/25 | **63300000** | **63300000** |
| J P MORGAN CHASE REV REPO 4.210% 10/08/25 DD 10/07/25 | **61600000** | **61600000** |
| J P MORGAN CHASE REV REPO 4.220% 10/21/25 DD 10/20/25 | **58600000** | **58600000** |
| J P MORGAN CHASE REV REPO 4.220% 10/22/25 DD 10/21/25 | **60500000** | **60500000** |
| J P MORGAN CHASE REV REPO 4.240% 09/30/25 DD 09/29/25 | **63600000** | **63600000** |
| J P MORGAN CHASE REV REPO 4.240% 10/02/25 DD 10/01/25 | **45500000** | **45500000** |
| J P MORGAN CHASE REV REPO 4.240% 10/03/25 DD 10/02/25 | **50000000** | **50000000** |
| J P MORGAN CHASE REV REPO 4.240% 10/07/25 DD 10/06/25 | **61600000** | **61600000** |
| J P MORGAN CHASE REV REPO 4.250% 09/29/25 DD 09/26/25 | **100000** | **100000** |
| J P MORGAN CHASE REV REPO 4.260% 11/04/25 DD 11/03/25 | **63100000** | **63100000** |
| J P MORGAN CHASE REV REPO 4.270% 10/23/25 DD 10/22/25 | **60400000** | **60400000** |
| J P MORGAN CHASE REV REPO 4.280% 01/07/25 DD 01/06/25 | **6700000** | **6700000** |
| J P MORGAN CHASE REV REPO 4.280% 10/24/25 DD 10/23/25 | **61000000** | **61000000** |
| J P MORGAN CHASE REV REPO 4.290% 01/08/25 DD 01/07/25 | **100000** | **100000** |
| J P MORGAN CHASE REV REPO 4.290% 10/16/25 DD 10/15/25 | **61600000** | **61600000** |
| J P MORGAN CHASE REV REPO 4.290% 10/27/25 DD 10/24/25 | **100000** | **100000** |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Acquired and Disposed of Within Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | **Proceeds of** |
| &nbsp;&nbsp;**rate of interest, collateral, par or maturity value** | **Shares / Par Value** | **Dispositions** |
| J P MORGAN CHASE REV REPO 4.300% 03/21/25 DD 03/20/25 | **63500000** | **63500000** |
| J P MORGAN CHASE REV REPO 4.300% 05/27/25 DD 05/23/25 | **59900000** | **59900000** |
| J P MORGAN CHASE REV REPO 4.310% 04/25/25 DD 04/24/25 | **57500000** | **57500000** |
| J P MORGAN CHASE REV REPO 4.310% 07/23/25 DD 07/22/25 | **100000** | **100000** |
| J P MORGAN CHASE REV REPO 4.310% 07/24/25 DD 07/23/25 | **63800000** | **63800000** |
| J P MORGAN CHASE REV REPO 4.320% 01/22/25 DD 01/21/25 | **48500000** | **48500000** |
| J P MORGAN CHASE REV REPO 4.320% 01/23/25 DD 01/22/25 | **42000000** | **42000000** |
| J P MORGAN CHASE REV REPO 4.320% 04/24/25 DD 04/23/25 | **12300000** | **12300000** |
| J P MORGAN CHASE REV REPO 4.320% 06/24/25 DD 06/23/25 | **100000** | **100000** |
| J P MORGAN CHASE REV REPO 4.320% 10/01/25 DD 09/30/25 | **63900000** | **63900000** |
| J P MORGAN CHASE REV REPO 4.330% 01/16/25 DD 01/15/25 | **41000000** | **41000000** |
| J P MORGAN CHASE REV REPO 4.330% 01/17/25 DD 01/16/25 | **40900000** | **40900000** |
| J P MORGAN CHASE REV REPO 4.330% 01/21/25 DD 01/17/25 | **56300000** | **56300000** |
| J P MORGAN CHASE REV REPO 4.330% 03/24/25 DD 03/21/25 | **57200000** | **57200000** |
| J P MORGAN CHASE REV REPO 4.330% 05/21/25 DD 05/20/25 | **62000000** | **62000000** |
| J P MORGAN CHASE REV REPO 4.330% 06/09/25 DD 06/06/25 | **19800000** | **19800000** |
| J P MORGAN CHASE REV REPO 4.330% 06/20/25 DD 06/18/25 | **74000000** | **74000000** |
| J P MORGAN CHASE REV REPO 4.330% 06/24/25 DD 06/23/25 | **11500000** | **11500000** |
| J P MORGAN CHASE REV REPO 4.330% 06/25/25 DD 06/24/25 | **68600000** | **68600000** |
| J P MORGAN CHASE REV REPO 4.340% 01/09/25 DD 01/08/25 | **6000000** | **6000000** |
| J P MORGAN CHASE REV REPO 4.340% 01/10/25 DD 01/09/25 | **39300000** | **39300000** |
| J P MORGAN CHASE REV REPO 4.340% 01/15/25 DD 01/14/25 | **40200000** | **40200000** |
| J P MORGAN CHASE REV REPO 4.340% 03/25/25 DD 03/24/25 | **67800000** | **67800000** |
| J P MORGAN CHASE REV REPO 4.340% 05/15/25 DD 05/14/25 | **10200000** | **10200000** |
| J P MORGAN CHASE REV REPO 4.340% 07/25/25 DD 07/24/25 | **63600000** | **63600000** |
| J P MORGAN CHASE REV REPO 4.350% 05/14/25 DD 05/13/25 | **58700000** | **58700000** |
| J P MORGAN CHASE REV REPO 4.350% 05/15/25 DD 05/14/25 | **59400000** | **59400000** |
| J P MORGAN CHASE REV REPO 4.350% 10/29/25 DD 10/28/25 | **64300000** | **64300000** |
| J P MORGAN CHASE REV REPO 4.350% 10/30/25 DD 10/29/25 | **62400000** | **62400000** |
| J P MORGAN CHASE REV REPO 4.360% 03/04/25 DD 03/03/25 | **69600000** | **69600000** |
| J P MORGAN CHASE REV REPO 4.360% 05/09/25 DD 05/08/25 | **57400000** | **57400000** |
| J P MORGAN CHASE REV REPO 4.360% 05/19/25 DD 05/16/25 | **60900000** | **60900000** |
| J P MORGAN CHASE REV REPO 4.360% 05/20/25 DD 05/19/25 | **61800000** | **61800000** |
| J P MORGAN CHASE REV REPO 4.360% 05/28/25 DD 05/27/25 | **59800000** | **59800000** |
| J P MORGAN CHASE REV REPO 4.360% 06/26/25 DD 06/25/25 | **100000** | **100000** |
| J P MORGAN CHASE REV REPO 4.360% 07/14/25 DD 07/11/25 | **10600000** | **10600000** |
| J P MORGAN CHASE REV REPO 4.360% 07/21/25 DD 07/18/25 | **100000** | **100000** |
| J P MORGAN CHASE REV REPO 4.370% 04/21/25 DD 04/17/25 | **6600000** | **6600000** |
| J P MORGAN CHASE REV REPO 4.370% 04/28/25 DD 04/25/25 | **57200000** | **57200000** |
| J P MORGAN CHASE REV REPO 4.370% 05/07/25 DD 05/06/25 | **56500000** | **56500000** |
| J P MORGAN CHASE REV REPO 4.370% 05/08/25 DD 05/07/25 | **56100000** | **56100000** |
| J P MORGAN CHASE REV REPO 4.370% 05/16/25 DD 05/15/25 | **60700000** | **60700000** |
| J P MORGAN CHASE REV REPO 4.370% 07/08/25 DD 07/07/25 | **62600000** | **62600000** |
| J P MORGAN CHASE REV REPO 4.370% 07/14/25 DD 07/11/25 | **63200000** | **63200000** |
| J P MORGAN CHASE REV REPO 4.370% 07/15/25 DD 07/14/25 | **100000** | **100000** |
| J P MORGAN CHASE REV REPO 4.370% 08/05/25 DD 08/04/25 | **62200000** | **62200000** |
| J P MORGAN CHASE REV REPO 4.370% 08/07/25 DD 08/06/25 | **100000** | **100000** |
| J P MORGAN CHASE REV REPO 4.370% 08/20/25 DD 08/19/25 | **58700000** | **58700000** |
| J P MORGAN CHASE REV REPO 4.380% 02/19/25 DD 02/18/25 | **69700000** | **69700000** |
| J P MORGAN CHASE REV REPO 4.380% 02/27/25 DD 02/26/25 | **60700000** | **60700000** |
| J P MORGAN CHASE REV REPO 4.380% 03/05/25 DD 03/04/25 | **5200000** | **5200000** |
| J P MORGAN CHASE REV REPO 4.380% 03/27/25 DD 03/26/25 | **57000000** | **57000000** |
| J P MORGAN CHASE REV REPO 4.380% 04/28/25 DD 04/25/25 | **9700000** | **9700000** |
| J P MORGAN CHASE REV REPO 4.380% 06/02/25 DD 05/30/25 | **100000** | **100000** |
| J P MORGAN CHASE REV REPO 4.380% 06/03/25 DD 06/02/25 | **10000000** | **10000000** |
| J P MORGAN CHASE REV REPO 4.380% 07/09/25 DD 07/08/25 | **100000** | **100000** |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Acquired and Disposed of Within Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | **Proceeds of** |
| &nbsp;&nbsp;**rate of interest, collateral, par or maturity value** | **Shares / Par Value** | **Dispositions** |
| J P MORGAN CHASE REV REPO 4.380% 07/15/25 DD 07/14/25 | **10800000** | **10800000** |
| J P MORGAN CHASE REV REPO 4.380% 07/17/25 DD 07/16/25 | **11300000** | **11300000** |
| J P MORGAN CHASE REV REPO 4.380% 08/25/25 DD 08/22/25 | **60400000** | **60400000** |
| J P MORGAN CHASE REV REPO 4.390% 01/27/25 DD 01/24/25 | **41200000** | **41200000** |
| J P MORGAN CHASE REV REPO 4.390% 01/28/25 DD 01/27/25 | **43100000** | **43100000** |
| J P MORGAN CHASE REV REPO 4.390% 01/29/25 DD 01/28/25 | **40600000** | **40600000** |
| J P MORGAN CHASE REV REPO 4.390% 02/03/25 DD 01/31/25 | **43500000** | **43500000** |
| J P MORGAN CHASE REV REPO 4.390% 04/08/25 DD 04/07/25 | **57400000** | **57400000** |
| J P MORGAN CHASE REV REPO 4.390% 04/14/25 DD 04/11/25 | **54500000** | **54500000** |
| J P MORGAN CHASE REV REPO 4.390% 07/18/25 DD 07/17/25 | **60600000** | **60600000** |
| J P MORGAN CHASE REV REPO 4.390% 08/11/25 DD 08/08/25 | **59900000** | **59900000** |
| J P MORGAN CHASE REV REPO 4.390% 08/14/25 DD 08/13/25 | **60000000** | **60000000** |
| J P MORGAN CHASE REV REPO 4.390% 08/15/25 DD 08/14/25 | **60100000** | **60100000** |
| J P MORGAN CHASE REV REPO 4.390% 08/18/25 DD 08/15/25 | **100000** | **100000** |
| J P MORGAN CHASE REV REPO 4.400% 02/11/25 DD 02/10/25 | **67400000** | **67400000** |
| J P MORGAN CHASE REV REPO 4.400% 02/28/25 DD 02/27/25 | **68900000** | **68900000** |
| J P MORGAN CHASE REV REPO 4.400% 07/17/25 DD 07/16/25 | **15500000** | **15500000** |
| J P MORGAN CHASE REV REPO 4.400% 08/04/25 DD 08/01/25 | **63300000** | **63300000** |
| J P MORGAN CHASE REV REPO 4.410% 01/31/25 DD 01/30/25 | **39200000** | **39200000** |
| J P MORGAN CHASE REV REPO 4.410% 07/28/25 DD 07/25/25 | **63800000** | **63800000** |
| J P MORGAN CHASE REV REPO 4.410% 08/13/25 DD 08/12/25 | **60000000** | **60000000** |
| J P MORGAN CHASE REV REPO 4.410% 08/19/25 DD 08/18/25 | **100000** | **100000** |
| J P MORGAN CHASE REV REPO 4.420% 04/04/25 DD 04/03/25 | **60000000** | **60000000** |
| J P MORGAN CHASE REV REPO 4.420% 05/01/25 DD 04/30/25 | **68000000** | **68000000** |
| J P MORGAN CHASE REV REPO 4.420% 07/16/25 DD 07/15/25 | **100000** | **100000** |
| J P MORGAN CHASE REV REPO 4.420% 07/29/25 DD 07/28/25 | **63800000** | **63800000** |
| J P MORGAN CHASE REV REPO 4.420% 07/30/25 DD 07/29/25 | **100000** | **100000** |
| J P MORGAN CHASE REV REPO 4.420% 09/02/25 DD 08/29/25 | **62300000** | **62300000** |
| J P MORGAN CHASE REV REPO 4.420% 09/17/25 DD 09/16/25 | **11600000** | **11600000** |
| J P MORGAN CHASE REV REPO 4.420% 09/18/25 DD 09/17/25 | **67800000** | **67800000** |
| J P MORGAN CHASE REV REPO 4.430% 01/06/25 DD 01/03/25 | **38700000** | **38700000** |
| J P MORGAN CHASE REV REPO 4.430% 04/11/25 DD 04/10/25 | **62300000** | **62300000** |
| J P MORGAN CHASE REV REPO 4.430% 05/02/25 DD 05/01/25 | **66000000** | **66000000** |
| J P MORGAN CHASE REV REPO 4.430% 06/02/25 DD 05/30/25 | **59500000** | **59500000** |
| J P MORGAN CHASE REV REPO 4.430% 08/26/25 DD 08/25/25 | **61000000** | **61000000** |
| J P MORGAN CHASE REV REPO 4.430% 08/29/25 DD 08/28/25 | **61100000** | **61100000** |
| J P MORGAN CHASE REV REPO 4.440% 08/27/25 DD 08/26/25 | **61000000** | **61000000** |
| J P MORGAN CHASE REV REPO 4.440% 08/28/25 DD 08/27/25 | **100000** | **100000** |
| J P MORGAN CHASE REV REPO 4.440% 09/04/25 DD 09/03/25 | **62500000** | **62500000** |
| J P MORGAN CHASE REV REPO 4.440% 09/05/25 DD 09/04/25 | **64000000** | **64000000** |
| J P MORGAN CHASE REV REPO 4.440% 09/12/25 DD 09/11/25 | **62100000** | **62100000** |
| J P MORGAN CHASE REV REPO 4.450% 04/04/25 DD 04/03/25 | **10300000** | **10300000** |
| J P MORGAN CHASE REV REPO 4.450% 04/10/25 DD 04/09/25 | **51400000** | **51400000** |
| J P MORGAN CHASE REV REPO 4.450% 09/10/25 DD 09/09/25 | **61700000** | **61700000** |
| J P MORGAN CHASE REV REPO 4.470% 06/30/25 DD 06/27/25 | **100000** | **100000** |
| J P MORGAN CHASE REV REPO 4.470% 07/02/25 DD 07/01/25 | **61900000** | **61900000** |
| J P MORGAN CHASE REV REPO 4.470% 09/15/25 DD 09/12/25 | **100000** | **100000** |
| J P MORGAN CHASE REV REPO 4.480% 07/01/25 DD 06/30/25 | **61400000** | **61400000** |
| J P MORGAN CHASE REV REPO 4.480% 09/09/25 DD 09/08/25 | **100000** | **100000** |
| J P MORGAN CHASE REV REPO 4.480% 09/17/25 DD 09/16/25 | **62400000** | **62400000** |
| J P MORGAN CHASE REV REPO 4.570% 09/16/25 DD 09/15/25 | **100000** | **100000** |
| MERRILL LYNCH REV REPO 3.660% 12/19/25 DD 12/18/25 | **68700000** | **68700000** |
| MERRILL LYNCH REV REPO 3.660% 12/22/25 DD 12/19/25 | **27800000** | **27800000** |
| MERRILL LYNCH REV REPO 3.670% 12/24/25 DD 12/23/25 | **71500000** | **71500000** |
| MERRILL LYNCH REV REPO 3.690% 12/23/25 DD 12/22/25 | **10400000** | **10400000** |
| MERRILL LYNCH REV REPO 3.710% 12/26/25 DD 12/24/25 | **62200000** | **62200000** |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Acquired and Disposed of Within Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | **Proceeds of** |
| &nbsp;&nbsp;**rate of interest, collateral, par or maturity value** | **Shares / Par Value** | **Dispositions** |
| MERRILL LYNCH REV REPO 3.810% 12/30/25 DD 12/29/25 | **73100000** | **73100000** |
| MERRILL LYNCH REV REPO 3.900% 12/05/25 DD 12/04/25 | **11000000** | **11000000** |
| MERRILL LYNCH REV REPO 3.930% 12/04/25 DD 12/03/25 | **73700000** | **73700000** |
| MERRILL LYNCH REV REPO 3.950% 11/19/25 DD 11/18/25 | **11500000** | **11500000** |
| MERRILL LYNCH REV REPO 3.960% 11/12/25 DD 11/10/25 | **10700000** | **10700000** |
| MERRILL LYNCH REV REPO 3.960% 11/17/25 DD 11/14/25 | **10700000** | **10700000** |
| MERRILL LYNCH REV REPO 4.030% 11/18/25 DD 11/17/25 | **11000000** | **11000000** |
| MERRILL LYNCH REV REPO 4.120% 12/02/25 DD 12/01/25 | **72500000** | **72500000** |
| MERRILL LYNCH REV REPO 4.150% 09/25/25 DD 09/24/25 | **10500000** | **10500000** |
| MERRILL LYNCH REV REPO 4.150% 10/07/25 DD 10/06/25 | **10600000** | **10600000** |
| MERRILL LYNCH REV REPO 4.200% 10/02/25 DD 10/01/25 | **27400000** | **27400000** |
| MERRILL LYNCH REV REPO 4.220% 10/15/25 DD 10/14/25 | **8000000** | **8000000** |
| MERRILL LYNCH REV REPO 4.240% 10/03/25 DD 10/02/25 | **12500000** | **12500000** |
| MERRILL LYNCH REV REPO 4.250% 01/08/25 DD 01/07/25 | **6300000** | **6300000** |
| MERRILL LYNCH REV REPO 4.250% 09/26/25 DD 09/25/25 | **62400000** | **62400000** |
| MERRILL LYNCH REV REPO 4.250% 09/29/25 DD 09/26/25 | **63200000** | **63200000** |
| MERRILL LYNCH REV REPO 4.280% 01/08/25 DD 01/07/25 | **39400000** | **39400000** |
| MERRILL LYNCH REV REPO 4.290% 03/20/25 DD 03/19/25 | **63800000** | **63800000** |
| MERRILL LYNCH REV REPO 4.290% 04/24/25 DD 04/23/25 | **54100000** | **54100000** |
| MERRILL LYNCH REV REPO 4.290% 05/12/25 DD 05/09/25 | **67400000** | **67400000** |
| MERRILL LYNCH REV REPO 4.300% 01/09/25 DD 01/08/25 | **39400000** | **39400000** |
| MERRILL LYNCH REV REPO 4.300% 03/24/25 DD 03/21/25 | **9800000** | **9800000** |
| MERRILL LYNCH REV REPO 4.300% 04/25/25 DD 04/24/25 | **9400000** | **9400000** |
| MERRILL LYNCH REV REPO 4.300% 05/09/25 DD 05/08/25 | **9700000** | **9700000** |
| MERRILL LYNCH REV REPO 4.300% 05/13/25 DD 05/12/25 | **68100000** | **68100000** |
| MERRILL LYNCH REV REPO 4.300% 05/20/25 DD 05/19/25 | **10800000** | **10800000** |
| MERRILL LYNCH REV REPO 4.300% 06/12/25 DD 06/11/25 | **72500000** | **72500000** |
| MERRILL LYNCH REV REPO 4.310% 01/16/25 DD 01/15/25 | **6300000** | **6300000** |
| MERRILL LYNCH REV REPO 4.310% 04/23/25 DD 04/22/25 | **66600000** | **66600000** |
| MERRILL LYNCH REV REPO 4.310% 06/25/25 DD 06/24/25 | **8100000** | **8100000** |
| MERRILL LYNCH REV REPO 4.310% 07/21/25 DD 07/18/25 | **10400000** | **10400000** |
| MERRILL LYNCH REV REPO 4.320% 03/19/25 DD 03/18/25 | **66200000** | **66200000** |
| MERRILL LYNCH REV REPO 4.320% 04/08/25 DD 04/07/25 | **3800000** | **3800000** |
| MERRILL LYNCH REV REPO 4.320% 04/17/25 DD 04/16/25 | **65300000** | **65300000** |
| MERRILL LYNCH REV REPO 4.320% 05/08/25 DD 05/07/25 | **9200000** | **9200000** |
| MERRILL LYNCH REV REPO 4.320% 05/19/25 DD 05/16/25 | **9300000** | **9300000** |
| MERRILL LYNCH REV REPO 4.330% 01/07/25 DD 01/06/25 | **39500000** | **39500000** |
| MERRILL LYNCH REV REPO 4.330% 02/13/25 DD 02/12/25 | **70000000** | **70000000** |
| MERRILL LYNCH REV REPO 4.330% 02/21/25 DD 02/20/25 | **70900000** | **70900000** |
| MERRILL LYNCH REV REPO 4.330% 03/26/25 DD 03/25/25 | **67500000** | **67500000** |
| MERRILL LYNCH REV REPO 4.330% 05/14/25 DD 05/13/25 | **10800000** | **10800000** |
| MERRILL LYNCH REV REPO 4.330% 06/10/25 DD 06/09/25 | **10700000** | **10700000** |
| MERRILL LYNCH REV REPO 4.330% 07/22/25 DD 07/21/25 | **64000000** | **64000000** |
| MERRILL LYNCH REV REPO 4.340% 01/14/25 DD 01/13/25 | **38700000** | **38700000** |
| MERRILL LYNCH REV REPO 4.340% 02/27/25 DD 02/26/25 | **8800000** | **8800000** |
| MERRILL LYNCH REV REPO 4.340% 03/17/25 DD 03/14/25 | **65700000** | **65700000** |
| MERRILL LYNCH REV REPO 4.340% 03/18/25 DD 03/17/25 | **65700000** | **65700000** |
| MERRILL LYNCH REV REPO 4.340% 04/21/25 DD 04/17/25 | **51100000** | **51100000** |
| MERRILL LYNCH REV REPO 4.340% 05/06/25 DD 05/05/25 | **66200000** | **66200000** |
| MERRILL LYNCH REV REPO 4.340% 05/07/25 DD 05/06/25 | **9300000** | **9300000** |
| MERRILL LYNCH REV REPO 4.340% 08/15/25 DD 08/14/25 | **9800000** | **9800000** |
| MERRILL LYNCH REV REPO 4.350% 02/14/25 DD 02/13/25 | **69700000** | **69700000** |
| MERRILL LYNCH REV REPO 4.350% 04/22/25 DD 04/21/25 | **58900000** | **58900000** |
| MERRILL LYNCH REV REPO 4.350% 05/16/25 DD 05/15/25 | **10400000** | **10400000** |
| MERRILL LYNCH REV REPO 4.350% 05/30/25 DD 05/29/25 | **10200000** | **10200000** |
| MERRILL LYNCH REV REPO 4.350% 07/18/25 DD 07/17/25 | **10500000** | **10500000** |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Acquired and Disposed of Within Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | **Proceeds of** |
| &nbsp;&nbsp;**rate of interest, collateral, par or maturity value** | **Shares / Par Value** | **Dispositions** |
| MERRILL LYNCH REV REPO 4.360% 03/06/25 DD 03/05/25 | **70300000** | **70300000** |
| MERRILL LYNCH REV REPO 4.360% 03/31/25 DD 03/28/25 | **67100000** | **67100000** |
| MERRILL LYNCH REV REPO 4.360% 04/07/25 DD 04/04/25 | **66700000** | **66700000** |
| MERRILL LYNCH REV REPO 4.360% 04/14/25 DD 04/11/25 | **8700000** | **8700000** |
| MERRILL LYNCH REV REPO 4.360% 05/29/25 DD 05/28/25 | **69900000** | **69900000** |
| MERRILL LYNCH REV REPO 4.360% 08/21/25 DD 08/20/25 | **100000** | **100000** |
| MERRILL LYNCH REV REPO 4.370% 04/03/25 DD 04/02/25 | **70600000** | **70600000** |
| MERRILL LYNCH REV REPO 4.370% 07/30/25 DD 07/29/25 | **8400000** | **8400000** |
| MERRILL LYNCH REV REPO 4.370% 08/07/25 DD 08/06/25 | **60500000** | **60500000** |
| MERRILL LYNCH REV REPO 4.380% 04/02/25 DD 04/01/25 | **67600000** | **67600000** |
| MERRILL LYNCH REV REPO 4.380% 04/15/25 DD 04/14/25 | **62900000** | **62900000** |
| MERRILL LYNCH REV REPO 4.380% 05/05/25 DD 05/02/25 | **66200000** | **66200000** |
| MERRILL LYNCH REV REPO 4.380% 08/26/25 DD 08/25/25 | **10700000** | **10700000** |
| MERRILL LYNCH REV REPO 4.390% 01/24/25 DD 01/23/25 | **48100000** | **48100000** |
| MERRILL LYNCH REV REPO 4.390% 02/04/25 DD 02/03/25 | **43300000** | **43300000** |
| MERRILL LYNCH REV REPO 4.390% 07/31/25 DD 07/30/25 | **100000** | **100000** |
| MERRILL LYNCH REV REPO 4.390% 08/06/25 DD 08/05/25 | **60900000** | **60900000** |
| MERRILL LYNCH REV REPO 4.390% 08/18/25 DD 08/15/25 | **59600000** | **59600000** |
| MERRILL LYNCH REV REPO 4.400% 01/03/25 DD 01/02/25 | **5800000** | **5800000** |
| MERRILL LYNCH REV REPO 4.400% 04/29/25 DD 04/28/25 | **69300000** | **69300000** |
| MERRILL LYNCH REV REPO 4.400% 05/30/25 DD 05/29/25 | **59700000** | **59700000** |
| MERRILL LYNCH REV REPO 4.400% 07/30/25 DD 07/29/25 | **2500000** | **2500000** |
| MERRILL LYNCH REV REPO 4.400% 08/19/25 DD 08/18/25 | **59600000** | **59600000** |
| MERRILL LYNCH REV REPO 4.400% 09/04/25 DD 09/03/25 | **10600000** | **10600000** |
| MERRILL LYNCH REV REPO 4.400% 09/11/25 DD 09/10/25 | **10900000** | **10900000** |
| MERRILL LYNCH REV REPO 4.410% 03/28/25 DD 03/27/25 | **67000000** | **67000000** |
| MERRILL LYNCH REV REPO 4.410% 04/01/25 DD 03/31/25 | **68000000** | **68000000** |
| MERRILL LYNCH REV REPO 4.410% 04/16/25 DD 04/15/25 | **64700000** | **64700000** |
| MERRILL LYNCH REV REPO 4.410% 07/03/25 DD 07/02/25 | **10600000** | **10600000** |
| MERRILL LYNCH REV REPO 4.420% 04/30/25 DD 04/29/25 | **69200000** | **69200000** |
| MERRILL LYNCH REV REPO 4.420% 06/30/25 DD 06/27/25 | **10500000** | **10500000** |
| MERRILL LYNCH REV REPO 4.420% 07/30/25 DD 07/29/25 | **63300000** | **63300000** |
| MERRILL LYNCH REV REPO 4.430% 04/09/25 DD 04/08/25 | **60400000** | **60400000** |
| MERRILL LYNCH REV REPO 4.430% 09/11/25 DD 09/10/25 | **60300000** | **60300000** |
| MERRILL LYNCH REV REPO 4.440% 08/27/25 DD 08/26/25 | **100000** | **100000** |
| MERRILL LYNCH REV REPO 4.440% 09/03/25 DD 09/02/25 | **62500000** | **62500000** |
| MERRILL LYNCH REV REPO 4.460% 04/10/25 DD 04/09/25 | **7900000** | **7900000** |
| MERRILL LYNCH REV REPO 4.460% 07/03/25 DD 07/02/25 | **62100000** | **62100000** |
| MERRILL LYNCH REV REPO 4.470% 09/15/25 DD 09/12/25 | **62800000** | **62800000** |
| REGIONS BANK REV REPO 3.660% 12/23/25 DD 12/22/25 | **60700000** | **60700000** |
| REGIONS BANK REV REPO 3.680% 12/12/25 DD 12/11/25 | **73700000** | **73700000** |
| REGIONS BANK REV REPO 3.690% 12/18/25 DD 12/17/25 | **100000** | **100000** |
| REGIONS BANK REV REPO 3.700% 12/22/25 DD 12/19/25 | **43400000** | **43400000** |
| REGIONS BANK REV REPO 3.710% 12/15/25 DD 12/12/25 | **73500000** | **73500000** |
| REGIONS BANK REV REPO 3.710% 12/17/25 DD 12/16/25 | **73100000** | **73100000** |
| REGIONS BANK REV REPO 3.720% 12/26/25 DD 12/24/25 | **10800000** | **10800000** |
| REGIONS BANK REV REPO 3.770% 12/31/25 DD 12/30/25 | **73600000** | **73600000** |
| REGIONS BANK REV REPO 3.800% 12/16/25 DD 12/15/25 | **72500000** | **72500000** |
| REGIONS BANK REV REPO 3.820% 12/29/25 DD 12/26/25 | **73800000** | **73800000** |
| REGIONS BANK REV REPO 3.890% 11/21/25 DD 11/20/25 | **7100000** | **7100000** |
| REGIONS BANK REV REPO 3.920% 11/07/25 DD 11/06/25 | **63400000** | **63400000** |
| REGIONS BANK REV REPO 3.930% 11/20/25 DD 11/19/25 | **11300000** | **11300000** |
| REGIONS BANK REV REPO 3.930% 12/08/25 DD 12/05/25 | **10800000** | **10800000** |
| REGIONS BANK REV REPO 3.940% 11/06/25 DD 11/05/25 | **74200000** | **74200000** |
| REGIONS BANK REV REPO 3.940% 12/11/25 DD 12/10/25 | **73900000** | **73900000** |
| REGIONS BANK REV REPO 3.960% 11/07/25 DD 11/06/25 | **9800000** | **9800000** |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Acquired and Disposed of Within Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | **Proceeds of** |
| &nbsp;&nbsp;**rate of interest, collateral, par or maturity value** | **Shares / Par Value** | **Dispositions** |
| REGIONS BANK REV REPO 3.960% 11/25/25 DD 11/24/25 | **9800000** | **9800000** |
| REGIONS BANK REV REPO 3.960% 12/10/25 DD 12/09/25 | **74200000** | **74200000** |
| REGIONS BANK REV REPO 3.970% 12/08/25 DD 12/05/25 | **63000000** | **63000000** |
| REGIONS BANK REV REPO 4.000% 10/31/25 DD 10/30/25 | **10800000** | **10800000** |
| REGIONS BANK REV REPO 4.000% 11/05/25 DD 11/04/25 | **10800000** | **10800000** |
| REGIONS BANK REV REPO 4.000% 11/14/25 DD 11/13/25 | **11000000** | **11000000** |
| REGIONS BANK REV REPO 4.000% 11/18/25 DD 11/17/25 | **62700000** | **62700000** |
| REGIONS BANK REV REPO 4.000% 12/09/25 DD 12/08/25 | **11200000** | **11200000** |
| REGIONS BANK REV REPO 4.030% 11/26/25 DD 11/25/25 | **10600000** | **10600000** |
| REGIONS BANK REV REPO 4.040% 11/13/25 DD 11/12/25 | **10100000** | **10100000** |
| REGIONS BANK REV REPO 4.040% 11/17/25 DD 11/14/25 | **62900000** | **62900000** |
| REGIONS BANK REV REPO 4.040% 12/03/25 DD 12/02/25 | **11000000** | **11000000** |
| REGIONS BANK REV REPO 4.060% 11/28/25 DD 11/26/25 | **61300000** | **61300000** |
| REGIONS BANK REV REPO 4.100% 11/28/25 DD 11/26/25 | **10600000** | **10600000** |
| REGIONS BANK REV REPO 4.110% 10/09/25 DD 10/08/25 | **11000000** | **11000000** |
| REGIONS BANK REV REPO 4.120% 10/10/25 DD 10/09/25 | **73100000** | **73100000** |
| REGIONS BANK REV REPO 4.130% 09/19/25 DD 09/18/25 | **74800000** | **74800000** |
| REGIONS BANK REV REPO 4.130% 09/24/25 DD 09/23/25 | **62000000** | **62000000** |
| REGIONS BANK REV REPO 4.130% 09/25/25 DD 09/24/25 | **62000000** | **62000000** |
| REGIONS BANK REV REPO 4.130% 10/14/25 DD 10/10/25 | **62900000** | **62900000** |
| REGIONS BANK REV REPO 4.140% 10/14/25 DD 10/10/25 | **10800000** | **10800000** |
| REGIONS BANK REV REPO 4.140% 10/20/25 DD 10/17/25 | **10000000** | **10000000** |
| REGIONS BANK REV REPO 4.150% 09/23/25 DD 09/22/25 | **62600000** | **62600000** |
| REGIONS BANK REV REPO 4.160% 11/04/25 DD 11/03/25 | **10900000** | **10900000** |
| REGIONS BANK REV REPO 4.170% 09/23/25 DD 09/22/25 | **9900000** | **9900000** |
| REGIONS BANK REV REPO 4.170% 09/29/25 DD 09/26/25 | **11300000** | **11300000** |
| REGIONS BANK REV REPO 4.180% 09/22/25 DD 09/19/25 | **10700000** | **10700000** |
| REGIONS BANK REV REPO 4.180% 09/30/25 DD 09/29/25 | **10900000** | **10900000** |
| REGIONS BANK REV REPO 4.180% 10/06/25 DD 10/03/25 | **9600000** | **9600000** |
| REGIONS BANK REV REPO 4.180% 10/21/25 DD 10/20/25 | **10200000** | **10200000** |
| REGIONS BANK REV REPO 4.180% 12/01/25 DD 11/28/25 | **71600000** | **71600000** |
| REGIONS BANK REV REPO 4.190% 10/08/25 DD 10/07/25 | **10700000** | **10700000** |
| REGIONS BANK REV REPO 4.200% 09/26/25 DD 09/25/25 | **11100000** | **11100000** |
| REGIONS BANK REV REPO 4.200% 10/06/25 DD 10/03/25 | **62300000** | **62300000** |
| REGIONS BANK REV REPO 4.200% 10/23/25 DD 10/22/25 | **10900000** | **10900000** |
| REGIONS BANK REV REPO 4.230% 10/03/25 DD 10/02/25 | **10500000** | **10500000** |
| REGIONS BANK REV REPO 4.240% 10/06/25 DD 10/03/25 | **100000** | **100000** |
| REGIONS BANK REV REPO 4.250% 10/01/25 DD 09/30/25 | **9900000** | **9900000** |
| REGIONS BANK REV REPO 4.250% 10/27/25 DD 10/24/25 | **71600000** | **71600000** |
| REGIONS BANK REV REPO 4.250% 10/28/25 DD 10/27/25 | **75400000** | **75400000** |
| REGIONS BANK REV REPO 4.250% 10/30/25 DD 10/29/25 | **10500000** | **10500000** |
| REGIONS BANK REV REPO 4.260% 10/24/25 DD 10/23/25 | **10500000** | **10500000** |
| REGIONS BANK REV REPO 4.260% 11/03/25 DD 10/31/25 | **10900000** | **10900000** |
| REGIONS BANK REV REPO 4.270% 10/22/25 DD 10/21/25 | **10200000** | **10200000** |
| REGIONS BANK REV REPO 4.280% 10/20/25 DD 10/17/25 | **58800000** | **58800000** |
| REGIONS BANK REV REPO 4.310% 10/16/25 DD 10/15/25 | **9800000** | **9800000** |
| REGIONS BANK REV REPO 4.320% 10/17/25 DD 10/16/25 | **11000000** | **11000000** |
| REGIONS BANK REV REPO 4.340% 10/29/25 DD 10/28/25 | **10000000** | **10000000** |
| REGIONS BANK REV REPO 4.390% 09/11/25 DD 09/10/25 | **1700000** | **1700000** |
| REGIONS BANK REV REPO 4.400% 09/18/25 DD 09/17/25 | **11700000** | **11700000** |
| REGIONS BANK REV REPO 4.410% 09/12/25 DD 09/11/25 | **11000000** | **11000000** |
| REGIONS BANK REV REPO 4.420% 09/09/25 DD 09/08/25 | **62700000** | **62700000** |
| REGIONS BANK REV REPO 4.440% 09/10/25 DD 09/09/25 | **10500000** | **10500000** |
| REGIONS BANK REV REPO 4.460% 09/09/25 DD 09/08/25 | **9500000** | **9500000** |
| REGIONS BANK REV REPO 4.470% 09/08/25 DD 09/05/25 | **10200000** | **10200000** |
| REGIONS BANK REV REPO 4.480% 09/15/25 DD 09/12/25 | **10500000** | **10500000** |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Acquired and Disposed of Within Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | **Proceeds of** |
| &nbsp;&nbsp;**rate of interest, collateral, par or maturity value** | **Shares / Par Value** | **Dispositions** |
| REGIONS BANK REV REPO 4.520% 09/16/25 DD 09/15/25 | **62600000** | **62600000** |
| REGIONS BANK REV REPO 4.570% 09/16/25 DD 09/15/25 | **10700000** | **10700000** |
| TORONTO DOMINION REV REPO 4.330% 03/14/25 DD 03/13/25 | **70100000** | **70100000** |
| TORONTO DOMINION REV REPO 4.330% 06/09/25 DD 06/06/25 | **51300000** | **51300000** |
| TORONTO DOMINION REV REPO 4.420% 03/27/25 DD 03/26/25 | **10100000** | **10100000** |
| **Total Securities Purchased Under Agreements to Resell** |  | $**16935100000** |
| **Fixed Income Securities** |  |  |
| ELMWOOD CLO 19 LTD 6A AR2 144A VAR RT 10/17/38 DD 10/06/25 | **590000** | $**591413** |
| JACKSON NATIONAL LIFE DISC 12/05/25 | **2395000** | **2391058** |
| **Total Fixed Income Securities** |  | $**2982471** |
| **Common Stock** |  |  |
| AALBERTS NV | **14324** | $**523347** |
| AP MOLLER - MAERSK A/S | **439** | **872577** |
| BALOISE HOLDING AG | **1494** | **392774** |
| BANCO SANTANDER SA | **139762** | **1357474** |
| CONTINENTAL AG | **8377** | **589289** |
| DEUTSCHE BOERSE AG | **2193** | **672534** |
| EGUARANTEE INC | **21300** | **211911** |
| FERRARI NV | **2999** | **1228510** |
| JAMES HARDIE INDUSTRIES PLC | **20737** | **554799** |
| KERING SA | **937** | **252823** |
| KONINKLIJKE KPN NV | **240147** | **1086002** |
| MITSUBISHI CHEMICAL GROUP CORP | **56840** | **315782** |
| NIDEC CORP | **14900** | **226084** |
| NIPPON SANSO HOLDINGS CORP | **11100** | **385879** |
| OSAKA GAS CO LTD | **33200** | **928014** |
| ROTORK PLC | **5687** | **24670** |
| RYANAIR HOLDINGS PLC | **14135** | **380825** |
| SONY FINANCIAL GROUP INC | **274361** | **311772** |
| TECK RESOURCES LTD CL B SUB-VTG | **9150** | **408238** |
| TOYOTA INDUSTRIES CORP | **1598** | **174698** |
| VALTERRA PLATINUM LIMITED | **4325** | **160050** |
| YOKOHAMA FINANCIAL GROUP INC | **99400** | **724320** |
| ZIJIN GOLD INTERNATIONAL CO LT HK/02259 | **18460** | **335552** |
| **Total Common Stock** |  | $**12117924** |
| **Derivatives** |  |  |
| ALUMINUM HG FUTURE (LME) EXP JAN 25 | **11** | $**(41071)** |
| ALUMINUM HG FUTURE (LME) EXP JAN 26 | **9** | **(35)** |
| ARGUS EURO-BOB ROTTE FUT (ISF) EXP AUG 25 | **1** | **(2110)** |
| ARGUS EURO-BOB ROTTE FUT (ISF) EXP JUL 25 | **1** | **158** |
| ARGUS EURO-BOB ROTTE FUT (ISF) EXP SEP 25 | **1** | **(4860)** |
| COCOA FUTURE (NYB) EXP DEC 25 | **1** | **(50885)** |
| COCOA FUTURE (NYB) EXP JUL 25 | **3** | **38741** |
| COCOA FUTURE (NYB) EXP MAY 25 | **3** | **(77257)** |
| COCOA FUTURE (NYB) EXP SEP 25 | **3** | **(32986)** |
| COFFEE 'C' FUTURE (NYB) EXP DEC 25 | **1** | **(246452)** |
| COFFEE 'C' FUTURE (NYB) EXP MAY 26 | **2** | **(17582)** |
| COFFEE 'C' FUTURE (NYB) EXP SEP 25 | **1** | **68741** |
| COPPER FUTURE (CMX) EXP DEC 25 | **8** | **(67085)** |
| COPPER FUTURE (CMX) EXP JUL 25 | **28** | **45183** |
| COPPER FUTURE (CMX) EXP MAY 25 | **4** | **22084** |
| COPPER FUTURE (CMX) EXP SEP 25 | **9** | **209706** |
| COPPER FUTURE (LME) EXP AUG 25 | **6** | **(38899)** |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Acquired and Disposed of Within Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | **Proceeds of** |
| &nbsp;&nbsp;**rate of interest, collateral, par or maturity value** | **Shares / Par Value** | **Dispositions** |
| COPPER FUTURE (LME) EXP JUL 25 | **10** | **(23342)** |
| COPPER FUTURE (LME) EXP SEP 25 | **5** | **(12620)** |
| CORN FUTURE (CBT) EXP MAY 26 | **25** | **(7282)** |
| CORN FUTURE (CBT) EXP SEP 25 | **85** | **120187** |
| COTTON NO 2 FUTURE (NYB) EXP DEC 25 | **32** | **18958** |
| COTTON NO 2 FUTURE (NYB) EXP MAY 26 | **6** | **5952** |
| ECX EMISSION EXP MAR 26 | **6** | **16428** |
| ECX EMISSION FUTURE (EDX) EXP DEC 25 | **15** | **(88821)** |
| GAS OIL FUTURE (ICE) EXP APR 26 | **19** | **(56713)** |
| GAS OIL FUTURE (ICE) EXP DEC 26 | **8** | **(13293)** |
| GAS OIL FUTURE (ICE) EXP JUL 25 | **31** | **(406802)** |
| GAS OIL FUTURE (ICE) EXP MAY 26 | **10** | **32932** |
| GAS OIL FUTURE (ICE) EXP NOV 25 | **10** | **54302** |
| GAS OIL FUTURE (ICE) EXP OCT 25 | **19** | **(95390)** |
| GAS OIL FUTURE (IPE) EXP AUG 25 | **33** | **1693** |
| GASOLINE RBOB FUTURE (NYM EXP JUL 25 | **20** | **20948** |
| GASOLINE RBOB FUTURE (NYM) EXP APR 26 | **7** | **(25611)** |
| GASOLINE RBOB FUTURE (NYM) EXP AUG 25 | **7** | **(7837)** |
| GASOLINE RBOB FUTURE (NYM) EXP FEB 26 | **–** | **(1175)** |
| GASOLINE RBOB FUTURE (NYM) EXP JAN 26 | **9** | **(3699)** |
| GASOLINE RBOB FUTURE (NYM) EXP MAR 25 | **11** | **2522** |
| GASOLINE RBOB FUTURE (NYM) EXP MAY 25 | **24** | **(91033)** |
| GASOLINE RBOB FUTURE (NYM) EXP NOV 25 | **13** | **(19307)** |
| GASOLINE RBOB FUTURE (NYM) EXP OCT 26 | **2** | **1754** |
| GASOLINE RBOB FUTURE (NYM) EXP SEP 26 | **2** | **(418)** |
| GLOBEX NATURL GAS FUTURE (NYM) EXP AUG 25 | **11** | **22053** |
| GLOBEX NATURL GAS FUTURE (NYM) EXP JUL 25 | **1** | **(2760)** |
| GLOBEX NATURL GAS FUTURE (NYM) EXP SEP 25 | **15** | **27957** |
| GOLD 100 OZ FUTURE (CMX) EXP AUG 25 | **32** | **208955** |
| GOLD 100 OZ FUTURE (CMX) EXP DEC 25 | **39** | **(1107575)** |
| GOLD 100 OZ FUTURE (CMX) EXP JUN 25 | **34** | **(809588)** |
| GOLD 100 OZ FUTURE (CMX) EXP MAR 25 | **94** | **59206** |
| GOLD 100 OZ FUTURE (CMX) EXP OCT 25 | **14** | **(538244)** |
| HEATING OIL FUTURE (NYM) EXP APR 26 | **7** | **39787** |
| HENRY HB LD1 (IFE) EXP FEB 27 | **1** | **922** |
| HENRY HB LD1 (IFE) EXP JAN 27 | **1** | **922** |
| HENRY HB LD1 (IFE) EXP MAR 27 | **1** | **922** |
| HENRY HB LD1 FUT (IFE) EXP APR 27 | **1** | **922** |
| HENRY HB LD1 FUT (IFE) EXP DEC 27 | **1** | **922** |
| HENRY HB LD1 FUT (IFE) EXP MAY 27 | **1** | **922** |
| HENRY HB LD1 FUT (IFE) EXP NOV 27 | **1** | **922** |
| HENRY HB LD1 FUT (IFE) EXP OCT 27 | **1** | **922** |
| HENRY HUB LD1 FUT (IFE) EXP AUG 27 | **1** | **922** |
| HENRY HUB LD1 FUT (IFE) EXP JUL 27 | **1** | **922** |
| HENRY HUB LD1 FUT (IFE) EXP JUN 27 | **1** | **922** |
| HENRY HUB LD1 FUT (IFE) EXP SEP 27 | **1** | **922** |
| IRON ORE 62% (SGX) EXP JAN 26 | **85** | **(19465)** |
| IRON ORE 62% (SGX) EXP JUL 25 | **85** | **(13375)** |
| IRON ORE 62% (SGX) EXP MAY 25 | **78** | **(40365)** |
| IRON ORE 62% (SGX) EXP NOV 25 | **53** | **14280** |
| IRON ORE 62% (SGX) EXP SEP 25 | **81** | **(20130)** |
| KC HRW WHEAT FUTURE (CBT) EXP DEC 25 | **45** | **29370** |
| KC HRW WHEAT FUTURE (CBT) EXP SEP 25 | **53** | **(72844)** |
| LEAD FUTURE (LME) EXP JAN 25 | **10** | **585** |
| LEAD FUTURE (LME) EXP JAN 26 | **10** | **(39)** |
| LEAD FUTURE (LME) EXP JUL 25 | **5** | **(930)** |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Acquired and Disposed of Within Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | **Proceeds of** |
| &nbsp;&nbsp;**rate of interest, collateral, par or maturity value** | **Shares / Par Value** | **Dispositions** |
| LEAD FUTURE (LME) EXP MAY 25 | **14** | **(25364)** |
| LEAD FUTURE (LME) EXP NOV 25 | **1** | **809** |
| LEAD FUTURE (LME) EXP SEP 25 | **1** | **(1007)** |
| LEAN HOGS FUTURE (CME) EXP AUG 25 | **19** | **(67043)** |
| LEAN HOGS FUTURE (CME) EXP DEC 25 | **23** | **8461** |
| LEAN HOGS FUTURE (CME) EXP FEB 26 | **25** | **18701** |
| LEAN HOGS FUTURE (CME) EXP JUL 25 | **19** | **(35818)** |
| LEAN HOGS FUTURE (CME) EXP JUN 25 | **22** | **50336** |
| LEAN HOGS FUTURE (CME) EXP OCT 25 | **22** | **11135** |
| LIVE CATTLE FUTURE (CME) EXP AUG 25 | **13** | **66587** |
| LIVE CATTLE FUTURE (CME) EXP DEC 25 | **14** | **36116** |
| LIVE CATTLE FUTURE (CME) EXP FEB 26 | **16** | **(53486)** |
| LIVE CATTLE FUTURE (CME) EXP JUN 25 | **12** | **46992** |
| LIVE CATTLE FUTURE (CME) EXP OCT 25 | **16** | **118209** |
| LOW SU GASOIL G FUTURE (ICE) EXP DEC 25 | **2** | **28945** |
| LOW SU GASOIL G FUTURE (ICE) EXP FEB 26 | **22** | **57776** |
| LOW SU GASOIL G FUTURE (ICE) EXP JAN 26 | **46** | **102043** |
| LOW SU GASOIL G FUTURE (ICE) EXP SEP 25 | **22** | **65577** |
| MT BELV ETHAN 5DE FUTURE (NYM) EXP JAN 26 | **5** | **(1859)** |
| MT BELV ETHAN 5DE FUTURE (NYM) EXP MAR 26 | **1** | **(788)** |
| NAT GAS EUR FUTURE (NYM) PUT AUG 22 003.400 ED 07/28/25 | **1** | **(4120)** |
| NAT GAS EUR FUTURE (NYM) PUT AUG 25 03.30 ED 07/28/25 | **1** | **(3120)** |
| NAT GAS EUR FUTURE JUN 25 PUT JUN 25 03.10 ED 05/27/25 | **3** | **(550)** |
| NAT GAS EUR OPT FUTURE (NYM) JUL 25 PUT JUN 25 003.500 ED 06/25/25 | **3** | **(2820)** |
| NAT GAS EUR OPT FUTURE (NYM) PUT JUL 25 003.250 ED 07/28/25 | **10** | **(26200)** |
| NAT GAS EUR OPT FUTURE (NYM) PUT AUG 25 003.000 ED 08/26/25 | **13** | **(36790)** |
| NATURAL GAS FUTURE (ICE) EXP APR 25 | **10** | **(15955)** |
| NATURAL GAS FUTURE (ICE) EXP AUG 25 | **5** | **9123** |
| NATURAL GAS FUTURE (ICE) EXP DEC 25 | **10** | **19083** |
| NATURAL GAS FUTURE (ICE) EXP FEB 26 | **15** | **54083** |
| NATURAL GAS FUTURE (ICE) EXP JAN 26 | **10** | **6018** |
| NATURAL GAS FUTURE (ICE) EXP MAY 25 | **10** | **(66692)** |
| NATURAL GAS FUTURE (ICE) EXP NOV 25 | **10** | **(10160)** |
| NATURAL GAS FUTURE (ICE) EXP OCT 25 | **10** | **8580** |
| NATURAL GAS FUTURE (ICE) EXP SEP 25 | **10** | **17471** |
| NATURAL GAS FUTURE (NYM) EXP AUG 25 | **3** | **(16779)** |
| NATURAL GAS FUTURE (NYM) EXP DEC 25 | **48** | **(23990)** |
| NATURAL GAS FUTURE (NYM) EXP FEB 26 | **29** | **(57816)** |
| NATURAL GAS FUTURE (NYM) EXP JUN 25 | **51** | **(63085)** |
| NATURAL GAS FUTURE (NYM) EXP NOV 25 | **43** | **(135101)** |
| NATURAL GAS FUTURE (NYM) EXP SEP 25 | **38** | **132205** |
| NICKEL FUTURE (LME) EXP JAN 25 | **5** | **(17334)** |
| NICKEL FUTURE (LME) EXP JAN 26 | **7** | **(27)** |
| NICKEL FUTURE (LME) EXP JUL 25 | **1** | **(20331)** |
| NICKEL FUTURE (LME) EXP MAY 25 | **3** | **–** |
| NICKEL FUTURE (LME) EXP NOV 25 | **5** | **(3839)** |
| NICKEL FUTURE (LME) EXP SEP 25 | **2** | **(4920)** |
| NY HARB ULSD FUTURE (NYM) EXP APR 25 | **1** | **(11573)** |
| NY HARB ULSD FUTURE (NYM) EXP AUG 25 | **7** | **(27761)** |
| NY HARB ULSD FUTURE (NYM) EXP DEC 25 | **2** | **(83847)** |
| NY HARB ULSD FUTURE (NYM) EXP FEB 26 | **4** | **7093** |
| NY HARB ULSD FUTURE (NYM) EXP JAN 26 | **18** | **45144** |
| NY HARB ULSD FUTURE (NYM) EXP JUL 25 | **–** | **1471** |
| NY HARB ULSD FUTURE (NYM) EXP MAY 25 | **8** | **(4572)** |
| NY HARB ULSD FUTURE (NYM) EXP NOV 25 | **13** | **(7776)** |
| NY HARB ULSD FUTURE (NYM) EXP OCT 25 | **5** | **(23718)** |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Acquired and Disposed of Within Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | **Proceeds of** |
| &nbsp;&nbsp;**rate of interest, collateral, par or maturity value** | **Shares / Par Value** | **Dispositions** |
| NY HARB ULSD FUTURE (NYM) EXP SEP 25 | **6** | **29532** |
| PALLADIUM FUTURE (NYM) EXP DEC 25 | **3** | **28360** |
| PALLADIUM FUTURE (NYM) EXP JUN 25 | **2** | **(1518)** |
| PALLADIUM FUTURE (NYM) EXP SEP 25 | **2** | **7365** |
| PLATINUM FUTURE (NYM) EXP JAN 26 | **8** | **34593** |
| PLATINUM FUTURE (NYM) EXP JUL 25 | **1** | **(21163)** |
| PLATINUM FUTURE (NYM) EXP OCT 25 | **3** | **39052** |
| PRI ALUMINUM FUTURE (LME) EXP JUL 25 | **24** | **(6847)** |
| PRI ALUMINUM FUTURE (LME) EXP MAY 25 | **7** | **(12967)** |
| PRI ALUMINUM FUTURE (LME) EXP NOV 25 | **10** | **(12181)** |
| PRI ALUMINUM FUTURE (LME) EXP SEP 25 | **17** | **(50976)** |
| SILVER FUTURE (CMX) EXP DEC 25 | **1** | **31106** |
| SILVER FUTURE (CMX) EXP JUL 25 | **15** | **103941** |
| SILVER FUTURE (CMX) EXP MAY 25 | **15** | **52414** |
| SILVER FUTURE (CMX) EXP SEP 25 | **9** | **163211** |
| SNG KEROS V SNG GA FUT (ISF) EXP FEB 25 | **5** | **(2591)** |
| SNG KEROS VS SNG GASOIL (ISF) EXP NOV 25 | **9** | **1629** |
| SNG KEROS VS SNG GASOIL EXP DEC 24 | **4** | **8624** |
| SOYBEAN FUTURE (CBT) EXP JAN 26 | **4** | **37006** |
| SOYBEAN FUTURE (CBT) EXP MAY 26 | **6** | **(27886)** |
| SOYBEAN MEAL FUTURE (CBT) EXP DEC 25 | **59** | **(138161)** |
| SOYBEAN MEAL FUTURE (CBT) EXP JAN 26 | **56** | **284402** |
| SOYBEAN MEAL FUTURE (CBT) EXP MAY 26 | **1** | **(45078)** |
| SOYBEAN OIL FUTURE (CBT) EXP DEC 25 | **13** | **(27287)** |
| SOYBEAN OIL FUTURE (CBT) EXP JAN 26 | **2** | **460** |
| SOYBEAN OIL FUTURE (CBT) EXP MAY 26 | **7** | **(534)** |
| SUGAR #11 WORLD FUTURE (NYB) EXP MAY 26 | **32** | **15757** |
| SUGAR #11 WORLD FUTURE (NYB) EXP OCT 25 | **34** | **20488** |
| TTF NAT GAS F FUTURE (EDX) EXP DEC 25 | **17** | **4046** |
| TTF NAT GAS F FUTURE (EDX) EXP NOV 25 | **7** | **(8642)** |
| TTF NAT GAS F FUTURE (EDX) EXP OCT 25 | **12** | **17080** |
| UK NATURAL GAS FU FUTURE (ICE) EXP JUN 25 | **5** | **(2767)** |
| US 10YR NOTE FUTURE (CBT) EXP DEC 25 | **90** | **(80292)** |
| US 10YR NOTE FUTURE (CBT) EXP JUN 25 | **6** | **226293** |
| US 10YR TREAS NTS FUTURE (CBT) EXP SEP 25 | **72** | **(149192)** |
| US 10YR ULTRA FUTURE (CBT) EXP DEC 25 | **50** | **(76722)** |
| US 10YR ULTRA FUTURE (CBT) EXP JUN 25 | **16** | **12711** |
| US 10YR ULTRA FUTURE (CBT) EXP SEP 25 | **41** | **(34688)** |
| US 2YR NOTE FUTURE (CBT) EXP DEC 25 | **562** | **107631** |
| US 2YR NOTE FUTURE (CBT) EXP JUN 25 | **393** | **12882** |
| US 2YR NOTE FUTURE (CBT) EXP SEP 25 | **520** | **196869** |
| US 5YR NOTE FUTURE (CBT) EXP DEC 25 | **170** | **(41452)** |
| US 5YR TREAS NTS FUTURE (CBT) EXP JUN 25 | **19** | **8308** |
| US 5YR TREAS NTS FUTURE (CBT) EXP SEP 25 | **90** | **(60753)** |
| US TREAS BD FUTURE (CBT) EXP DEC 25 | **37** | **(82181)** |
| US TREAS BD FUTURE (CBT) EXP JUN 25 | **44** | **171111** |
| US TREAS BD FUTURE (CBT) EXP SEP 25 | **46** | **(117509)** |
| US ULTRA BOND (CBT) EXP DEC 25 | **12** | **(1221)** |
| US ULTRA BOND (CBT) EXP JUN 25 | **5** | **11607** |
| US ULTRA BOND (CBT) EXP SEP 25 | **2** | **4335** |
| WHEAT FUTURE (CBT) EXP DEC 25 | **95** | **125482** |
| WHEAT FUTURE (CBT) EXP SEP 25 | **90** | **89641** |
| WTI CRUDE FUTURE (ICE) EXP AUG 25 | **18** | **(114749)** |
| WTI CRUDE FUTURE (ICE) EXP FEB 26 | **15** | **(19235)** |
| WTI CRUDE FUTURE (ICE) EXP JAN 26 | **15** | **(27666)** |
| WTI CRUDE FUTURE (ICE) EXP SEP 25 | **32** | **(90325)** |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4i – Schedule of Assets (Acquired and Disposed of Within Year)**

**December 31, 2025**

---

| | | |
|:---|:---|:---|
| **Identity of issue, borrower, lessor, or similar party, including maturity date,** | | **Proceeds of** |
| &nbsp;&nbsp;**rate of interest, collateral, par or maturity value** | **Shares / Par Value** | **Dispositions** |
| WTI CRUDE FUTURE (NYM) EXP JAN CALL NOV 25 072.000 ED 11/17/25 | **5** | **(961)** |
| WTI CRUDE FUTURE (NYM) EXP JAN PUT NOV 25 055.000 ED 11/17/25 | **5** | **6439** |
| WTI CRUDE FUTURE (NYM) JUN 25 PUT JUN 25 066.000 ED 05/15/25 | **1** | **2810** |
| WTI CRUDE FUTURE (NYM) JUN 26 PUT JUN 18 058.000 ED 05/14/26 | **6** | **26296** |
| WTI CRUDE FUTURE JUN 25 CALL JUN 26 66.00 ED 05/14/26 | **6** | **(17453)** |
| ZINC FUTURE (LME) EXP JAN 25 | **5** | **(4616)** |
| ZINC FUTURE (LME) EXP JAN 26 | **7** | **(27)** |
| ZINC FUTURE (LME) EXP JUL 25 | **11** | **(25124)** |
| ZINC FUTURE (LME) EXP MAY 25 | **2** | **(7383)** |
| ZINC FUTURE (LME) EXP NOV 25 | **2** | **9504** |
| ZINC FUTURE (LME) EXP SEP 25 | **9** | **(3752)** |
| **Total Derivatives** |  | $**(2349531)** |
| **Total Acquired and Disposed of Within the Year** |  | $**16947850864** |
| Note: Par value is reflected in the underlying currency of the security, where applicable. |  |  |

---

------

THE GOLDMAN SACHS 401(k) PLAN

PLAN NUMBER: 001 / EIN: 13-4019460

**Schedule H, Line 4j – Schedule of Reportable Transactions**

**December 31, 2025**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Identity of issue, borrower, lessor or**<br>**similar party** | **Purchase price** | **Number of transactions (purchases)** | **Selling price** | **Number of transactions (sales)** | **Cost** | **Current value<br>of asset on transaction date** | **Net gain or (loss)** |
| **Series of Transactions** | | | | | | | |
| DREYFUS INS RSRV PR MONEY 6546 | $**–** | **–** | $**1119796972** | **1619** | $**1119796972** | $**1119796972** | $**–** |
| DREYFUS INS RSRV PR MONEY 6546 | $**1108817799** | **1465** | $**–** | **–** | $**–** | $**1108817799** | $**–** |

---

------

**SIGNATURES**

*The Plan.* Pursuant to the requirements of the Securities Exchange Act of 1934, the Administrative Committee (or other persons who administer the employee benefit plan) has duly caused the annual report to be signed on its behalf by the undersigned hereunto duly authorized.

**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THE GOLDMAN SACHS 401(k) PLAN**

**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Members of the Administrative Committee**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By: <u>/s/ Nita Birla&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Nita Birla

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By: <u>/s/ Katie Gulasey&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Katie Gulasey

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By: <u>/s/ Doug Naumann&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Doug Naumann

Date: June 12, 2026

------

**INDEX TO EXHIBITS**

<u>Exhibit No.</u> <u>Description</u>

23&nbsp;&nbsp;&nbsp;&nbsp;<u>[Consent of PricewaterhouseCoopers LLP, Independent Registered Public Accounting Firm](exhibit232025.htm)</u>

## Ex-23

EXHIBIT 23

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We hereby consent to the incorporation by reference in the Registration Statement on Form S-8 (No. 333-42068) of The Goldman Sachs Group, Inc. of our report dated June 12, 2026 relating to the financial statements and supplemental schedules of The Goldman Sachs 401(k) Plan, which appears in this Form 11-K.

/s/ PricewaterhouseCoopers LLP

New York, New York

June 12, 2026

<br>