# EDGAR Filing Document

**Accession Number:** 0001557156
**File Stem:** 0001410368-26-028326
**Filing Date:** 2026-3
**Character Count:** 137833
**Document Hash:** 5febfbb5e053a4ff3c006002d92301d9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-028326.hdr.sgml**: 20260323

**ACCESSION NUMBER**: 0001410368-26-028326

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260323

**DATE AS OF CHANGE**: 20260323

**PERIOD START**: 20261031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Goldman Sachs Trust II
- **CENTRAL INDEX KEY:** 0001557156

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22781
- **FILM NUMBER:** 26780405

**BUSINESS ADDRESS:**
- **STREET 1:** 200 WEST STREET
- **STREET 2:** 15TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10282
- **BUSINESS PHONE:** 212-902-1000

**MAIL ADDRESS:**
- **STREET 1:** 200 WEST STREET
- **STREET 2:** 15TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10282

## Series and Classes Contracts Data

### Multi-Manager International Equity Fund (Series ID: S000049850)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000157436 | Class P Shares | MMITX           |

## Nport-Ex

MULTI-MANAGER INTERNATIONAL EQUITY FUND

## Schedule of Investments
*January 31, 2026 (Unaudited)* 

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – 96.4%** | **Common Stocks – 96.4%** | **Common Stocks – 96.4%** |
| **Belgium – 0.9%** | **Belgium – 0.9%** | **Belgium – 0.9%** |
| 136421 | Anheuser-Busch InBev SA (Beverages) | $9819994 |
| 67538 | Syensqo SA (Chemicals) | 5684251 |
|  |  | 15504245 |
| **Bermuda\* – 0.6%** | **Bermuda\* – 0.6%** | **Bermuda\* – 0.6%** |
| 110037 | Arch Capital Group Ltd. (Insurance) | 10567953 |
| **Brazil\* – 0.6%** | **Brazil\* – 0.6%** | **Brazil\* – 0.6%** |
| 592484 | NU Holdings Ltd. Class A (Banks) | 10516591 |
| **Canada – 3.1%** | **Canada – 3.1%** | **Canada – 3.1%** |
| 60803 | Barrick Mining Corp. (Metals & Mining) | 2779260 |
| 48697 | Canadian National Railway Co. (Ground Transportation) | 4685625 |
| 193925 | Canadian Natural Resources Ltd. |  |
|  | (Oil, Gas & Consumable Fuels) | 7210680 |
| 285572 | Canadian Pacific Kansas City Ltd. |  |
|  | (Ground Transportation) | 21228883 |
| 21392 | Intact Financial Corp. (Insurance) | 3894753 |
| 56995 | Shopify, Inc. Class A\* (IT Services) | 7479454 |
| 85533 | Toronto-Dominion Bank (Banks) | 7993926 |
|  |  | 55272581 |
| **China – 1.9%** | **China – 1.9%** | **China – 1.9%** |
| 246600 | NetEase, Inc. (Entertainment) | 6394355 |
| 373184 | Tencent Holdings Ltd. (Interactive Media & Services) | 28683594 |
|  |  | 35077949 |
| **Denmark – 1.9%** | **Denmark – 1.9%** | **Denmark – 1.9%** |
| 63203 | Carlsberg AS Class B (Beverages) | 8592393 |
| 426433 | Novo Nordisk AS Class B (Pharmaceuticals) | 25321260 |
|  |  | 33913653 |
| **Finland – 0.5%** | **Finland – 0.5%** | **Finland – 0.5%** |
| 125485 | Kone OYJ Class B (Machinery) | 9017963 |
| **France – 14.5%** | **France – 14.5%** | **France – 14.5%** |
| 90876 | Air Liquide SA (Chemicals) | 17017642 |
| 777014 | Alstom SA\* (Machinery) | 24808796 |
| 281884 | BNP Paribas SA (Banks) | 30480798 |
| 133413 | Capgemini SE (IT Services) | 20729452 |
| 237870 | Cie de Saint-Gobain SA (Building Products) | 23479067 |
| 123116 | Cie Generale des Etablissements Michelin SCA (Automobile Components) | 4571990 |
| 101266 | Dassault Systemes SE (Software) | 2785301 |
| 147259 | Edenred SE (Financial Services) | 3084457 |
| 450663 | Engie SA (Multi-Utilities) | 13455178 |
| 1160 | EssilorLuxottica SA (Health Care Equipment & Supplies) | 354607 |
| 78427 | Kering SA (Textiles, Apparel & Luxury Goods) | 24483156 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **France – (continued)** | **France – (continued)** |  |
| 45255 | Legrand SA (Electrical Equipment) | $7225315 |
| 22303 | LVMH Moet Hennessy Louis Vuitton SE (Textiles, Apparel & Luxury Goods) | 14394451 |
| 74129 | Pernod Ricard SA (Beverages) | 6628366 |
| 45637 | Safran SA (Aerospace & Defense) | 16305696 |
| 111826 | Sanofi SA (Pharmaceuticals) | 10547835 |
| 60235 | Schneider Electric SE (Electrical Equipment) | 17269485 |
| 130728 | Societe Generale SA (Banks) | 11455621 |
| 142255 | TotalEnergies SE (Oil, Gas & Consumable Fuels) | 10346019 |
| 432624 | Worldline SA\*<sup>(a)</sup> (Financial Services) | 732803 |
|  |  | 260156035 |
| **Germany – 9.3%** | **Germany – 9.3%** | **Germany – 9.3%** |
| 74811 | Beiersdorf AG (Personal Products) | 8923408 |
| 64536 | Daimler Truck Holding AG (Machinery) | 3124764 |
| 156593 | Deutsche Bank AG (Capital Markets) | 6179330 |
| 75724 | Deutsche Boerse AG (Capital Markets) | 19175224 |
| 395019 | Deutsche Telekom AG (Diversified Telecommunication Services) | 13256148 |
| 156687 | E.ON SE (Multi-Utilities) | 3318046 |
| 291818 | Infineon Technologies AG (Semiconductors & Semiconductor Equipment) | 14264790 |
| 270724 | Lanxess AG (Chemicals) | 5591898 |
| 70109 | Merck KGaA (Pharmaceuticals) | 10445727 |
| 10228 | MTU Aero Engines AG (Aerospace & Defense) | 4547111 |
| 3632 | Rheinmetall AG (Aerospace & Defense) | 7695650 |
| 170234 | SAP SE (Software) | 34007368 |
| 216983 | Siemens Energy AG\* (Electrical Equipment) | 36969568 |
|  |  | 167499032 |
| **Greece – 0.2%** | **Greece – 0.2%** | **Greece – 0.2%** |
| 597560 | Eurobank SA Class A (Banks) | 2920261 |
| **Hong Kong – 0.7%** | **Hong Kong – 0.7%** |  |
| 1052000 | AIA Group Ltd. (Insurance) | 12137422 |
| **India – 0.7%** | **India – 0.7%** | **India – 0.7%** |
| 265220 | HDFC Bank Ltd. (Banks) | 2681711 |
| 286457 | ICICI Bank Ltd. ADR (Banks) | 8390326 |
| 43643 | Tata Consultancy Services Ltd. (IT Services) | 1484214 |
|  |  | 12556251 |

---

------

MULTI-MANAGER INTERNATIONAL EQUITY FUND

## Schedule of Investments (continued)
*January 31, 2026 (Unaudited)* 

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **Indonesia – 0.1%** | **Indonesia – 0.1%** | **Indonesia – 0.1%** |
| 4625100 | Bank Mandiri Persero Tbk. PT (Banks) | $1330855 |
| **Ireland – 2.4%** | **Ireland – 2.4%** | **Ireland – 2.4%** |
| 984464 | AIB Group PLC (Banks) | 11004467 |
| 17030 | Aon PLC Class A (Insurance) | 5954369 |
| 207662 | Bank of Ireland Group PLC (Banks) | 4219163 |
| 19296 | Linde PLC (Chemicals) | 8817693 |
| 190058 | Ryanair Holdings PLC ADR (Passenger Airlines) | 13418095 |
|  |  | 43413787 |
| **Israel\* – 1.1%** | **Israel\* – 1.1%** | **Israel\* – 1.1%** |
| 52769 | Check Point Software Technologies Ltd. (Software) | 9472563 |
| 305471 | Teva Pharmaceutical Industries Ltd. ADR (Pharmaceuticals) | 10410452 |
|  |  | 19883015 |
| **Italy – 2.3%** | **Italy – 2.3%** | **Italy – 2.3%** |
| 494806 | Enel SpA (Electric Utilities) | 5466887 |
| 383254 | Eni SpA (Oil, Gas & Consumable Fuels) | 7833369 |
| 10974 | Ferrari NV (Automobiles) | 3660332 |
| 5908 | Generali (Insurance) | 240989 |
| 1551728 | Intesa Sanpaolo SpA (Banks) | 10985277 |
| 124853 | UniCredit SpA (Banks) | 10880443 |
| 80115 | Wizz Air Holdings PLC\*<sup>(a)</sup> (Passenger Airlines) | 1553860 |
|  |  | 40621157 |
| **Japan – 12.6%** | **Japan – 12.6%** | **Japan – 12.6%** |
| 62800 | Daikin Industries Ltd. (Building Products) | 7525348 |
| 520000 | Denso Corp. (Automobile Components) | 7214876 |
| 379100 | FANUC Corp. (Machinery) | 15222599 |
| 265500 | FUJIFILM Holdings Corp. (Technology Hardware, Storage & Peripherals) | 5303431 |
| 549500 | Hitachi Ltd. (Industrial Conglomerates) | 19067710 |
| 12800 | Hoya Corp. (Health Care Equipment & Supplies) | 2147274 |
| 368700 | KDDI Corp. (Wireless Telecommunication Services) | 6225122 |
| 58200 | Kose Holdings Corp. (Personal Products) | 2076348 |
| 2012500 | LY Corp. (Interactive Media & Services) | 5152845 |
| 412700 | Mitsubishi Electric Corp. (Electrical Equipment) | 12901782 |
| 448454 | Mitsubishi Heavy Industries Ltd. (Machinery) | 13204248 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **Japan – (continued)** | **Japan – (continued)** |  |
| 32700 | Murata Manufacturing Co. Ltd. (Electronic Equipment, Instruments & Components) | $664318 |
| 141093 | Nintendo Co. Ltd. (Entertainment) | 8737256 |
| 453900 | Olympus Corp. (Health Care Equipment & Supplies) | 5421611 |
| 1416500 | Renesas Electronics Corp.\* (Semiconductors & Semiconductor Equipment) | 23549955 |
| 660900 | Seven & i Holdings Co. Ltd. (Consumer Staples Distribution & Retail) | 9464482 |
| 289800 | Shin-Etsu Chemical Co. Ltd. (Chemicals) | 9529945 |
| 35100 | SMC Corp. (Machinery) | 13645871 |
| 533800 | Sompo Holdings, Inc. (Insurance) | 18407831 |
| 452500 | Sony Group Corp. (Household Durables) | 9976678 |
| 481700 | Sumitomo Mitsui Financial Group, Inc. (Banks) | 16951239 |
| 446600 | Suzuki Motor Corp. (Automobiles) | 6089422 |
| 310900 | Terumo Corp. (Health Care Equipment & Supplies) | 4066961 |
| 511000 | ZOZO, Inc. (Specialty Retail) | 4220581 |
|  |  | 226767733 |
| **Luxembourg – 0.1%** | **Luxembourg – 0.1%** | **Luxembourg – 0.1%** |
| 44762 | ArcelorMittal SA (Metals & Mining) | 2430935 |
| **Netherlands – 4.7%** | **Netherlands – 4.7%** |  |
| 6271 | Adyen NV\*<sup>(a)</sup> (Financial Services) | 9298913 |
| 108944 | Akzo Nobel NV (Chemicals) | 7632315 |
| 9130 | ASM International NV (Semiconductors & Semiconductor Equipment) | 7667677 |
| 14371 | ASML Holding NV (Semiconductors & Semiconductor Equipment) | 20449933 |
| 125735 | Heineken NV (Beverages) | 10379373 |
| 591542 | ING Groep NV (Banks) | 17445103 |
| 431367 | Koninklijke Philips NV (Health Care Equipment & Supplies) | 12387052 |
|  |  | 85260366 |
| **Portugal – 0.3%** | **Portugal – 0.3%** | **Portugal – 0.3%** |
| 240973 | Galp Energia SGPS SA (Oil, Gas & Consumable Fuels) | 4794791 |
| **Singapore – 2.0%** | **Singapore – 2.0%** |  |
| 188680 | DBS Group Holdings Ltd. (Banks) | 8770290 |
| 182447 | Sea Ltd. ADR\* (Broadline Retail) | 21253251 |
| 231800 | United Overseas Bank Ltd. (Banks) | 6986252 |
|  |  | 37009793 |

---

------

MULTI-MANAGER INTERNATIONAL EQUITY FUND

*January 31, 2026 (Unaudited)* 

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **South Korea – 1.9%** | **South Korea – 1.9%** | **South Korea – 1.9%** |
| 132542 | Coupang, Inc.\* (Broadline Retail) | $2672047 |
| 5020 | KT&G Corp. (Tobacco) | 536736 |
| 5034 | Samsung Electronics Co. Ltd. GDR (Technology Hardware, Storage & Peripherals) | 13858201 |
| 9859 | Samsung Fire & Marine Insurance Co. Ltd. (Insurance) | 3431540 |
| 78066 | Shinhan Financial Group Co. Ltd. (Banks) | 4562468 |
| 14190 | SK Hynix, Inc. (Semiconductors & Semiconductor Equipment) | 8859910 |
|  |  | 33920902 |
| **Spain – 0.5%** | **Spain – 0.5%** | **Spain – 0.5%** |
| 130741 | Amadeus IT Group SA (Hotels, Restaurants & Leisure) | 8765745 |
| **Sweden – 0.7%** | **Sweden – 0.7%** | **Sweden – 0.7%** |
| 677276 | Electrolux AB Class B\* (Household Durables) | 5470763 |
| 621632 | Hexagon AB Class B (Electronic Equipment, Instruments & Components) | 7008924 |
|  |  | 12479687 |
| **Switzerland – 3.8%** | **Switzerland – 3.8%** | **Switzerland – 3.8%** |
| 72439 | Cie Financiere Richemont SA Class A (Textiles, Apparel & Luxury Goods) | 14061101 |
| 123626 | Novartis AG (Pharmaceuticals) | 18342361 |
| 12519 | Sonova Holding AG (Health Care Equipment & Supplies) | 3426241 |
| 482135 | UBS Group AG (Capital Markets) | 22812400 |
| 14361 | Zurich Insurance Group AG (Insurance) | 10216728 |
|  |  | 68858831 |
| **Taiwan – 2.7%** | **Taiwan – 2.7%** | **Taiwan – 2.7%** |
| 873135 | Taiwan Semiconductor Manufacturing Co. Ltd. (Semiconductors & Semiconductor Equipment) | 48280789 |
| **United Kingdom – 17.8%** | **United Kingdom – 17.8%** | **United Kingdom – 17.8%** |
| 249666 | 3i Group PLC (Capital Markets) | 11469436 |
| 173979 | AstraZeneca PLC (Pharmaceuticals) | 32414745 |
| 2748648 | Barclays PLC (Banks) | 18344665 |
| 80020 | Berkeley Group Holdings PLC (Household Durables) | 4521036 |
| 1976245 | BP PLC (Oil, Gas & Consumable Fuels) | 12530493 |
| 446415 | British American Tobacco PLC (Tobacco) | 26969542 |
| 412173 | Compass Group PLC (Hotels, Restaurants & Leisure) | 12359186 |
| 481228 | Diageo PLC (Beverages) | 11073200 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **United Kingdom – (continued)** | **United Kingdom – (continued)** | **United Kingdom – (continued)** |
| 176474 | GSK PLC (Pharmaceuticals) | $4563911 |
| 1653028 | Lloyds Banking Group PLC (Banks) | 2468308 |
| 62471 | London Stock Exchange Group PLC (Capital Markets) | 6968144 |
| 189833 | Melrose Industries PLC (Aerospace & Defense) | 1632172 |
| 664837 | National Grid PLC (Multi-Utilities) | 11295281 |
| 2155149 | NatWest Group PLC (Banks) | 19643712 |
| 861731 | Prudential PLC (Insurance) | 14154144 |
| 208552 | Reckitt Benckiser Group PLC\* (Household Products) | 17384874 |
| 507742 | RELX PLC (Professional Services) | 18074716 |
| 69058 | Rio Tinto PLC (Metals & Mining) | 6300458 |
| 3214624 | Rolls-Royce Holdings PLC (Aerospace & Defense) | 53738788 |
| 625721 | Segro PLC (Industrial REITs) | 6519122 |
| 374674 | Smith & Nephew PLC (Health Care Equipment & Supplies) | 6385667 |
| 89119 | Smiths Group PLC (Industrial Conglomerates) | 3060508 |
| 258349 | Standard Chartered PLC (Banks) | 6610229 |
| 1234453 | Tesco PLC (Consumer Staples Distribution & Retail) | 7183036 |
| 484159 | WH Smith PLC (Specialty Retail) | 4471869 |
|  |  | 320137242 |
| **United States – 8.5%** | **United States – 8.5%** | **United States – 8.5%** |
| 424658 | Carnival Corp.\* (Hotels, Restaurants & Leisure) | 12748233 |
| 347862 | Experian PLC (Professional Services) | 13175181 |
| 38426 | Ferguson Enterprises, Inc. (Trading Companies & Distributors) | 9701028 |
| 64371 | Medtronic PLC (Health Care Equipment & Supplies) | 6627638 |
| 24197 | Monday.com Ltd.\* (Software) | 2776606 |
| 96292 | Nestle SA (Food Products) | 9188810 |
| 99551 | Philip Morris International, Inc. (Tobacco) | 17863431 |
| 92971 | Qiagen NV (Life Sciences Tools & Services) | 4929287 |
| 79089 | Roche Holding AG (Pharmaceuticals) | 35964897 |
| 36492 | Seagate Technology Holdings PLC (Technology Hardware, Storage & Peripherals) | 14877424 |
| 229471 | Smurfit WestRock PLC (Containers & Packaging) | 9552878 |
| 20296 | Spotify Technology SA\* (Entertainment) | 10155104 |

---

------

MULTI-MANAGER INTERNATIONAL EQUITY FUND

*January 31, 2026 (Unaudited)* 

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **United States – (continued)** | **United States – (continued)** | **United States – (continued)** |
| 34464 | Waste Connections, Inc. (Commercial Services & Supplies) | $5776166 |
|  |  | 153336683 |
| **TOTAL COMMON STOCKS<br>(Cost $1,185,016,720)** | **TOTAL COMMON STOCKS<br>(Cost $1,185,016,720)** | $1732432247 |
| **Shares** | **Dividend**<br> **Rate** | **Value** |
| **Investment Company<sup>(b)</sup> – 2.8%** | **Investment Company<sup>(b)</sup> – 2.8%** | **Investment Company<sup>(b)</sup> – 2.8%** |
| Goldman Sachs Financial Square Government Fund — Institutional<br>Shares | Goldman Sachs Financial Square Government Fund — Institutional<br>Shares | Goldman Sachs Financial Square Government Fund — Institutional<br>Shares |
| 49516408 | 3.590% | $49516408 |
| **(Cost $49,516,408)** | **(Cost $49,516,408)** | **(Cost $49,516,408)** |
| **TOTAL INVESTMENTS – 99.2%<br>(Cost $1,234,533,128)** | **TOTAL INVESTMENTS – 99.2%<br>(Cost $1,234,533,128)** | $1781948655 |
| **OTHER ASSETS IN EXCESS OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**LIABILITIES – 0.8%** | **OTHER ASSETS IN EXCESS OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**LIABILITIES – 0.8%** | 14326267 |
| **NET ASSETS – 100.0%** | **NET ASSETS – 100.0%** | $1796274922 |

---

---

| | |
|:---|:---|
| The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets. | The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets. |
| \* | Non-income producing security. |
| (a) | Exempt from registration under Rule 144A of the Securities Act of 1933. |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

 <br> (b) Represents an affiliated issuer.

---

| | |
|:---|:---|
| **SECTOR ALLOCATION AS OF JANUARY 31, 2026** | **SECTOR ALLOCATION AS OF JANUARY 31, 2026** |
| **Sector** | **% of Total<br>Market Value** |
|  Industrials | 21.2% |
|  Financials | 20.9 |
|  Information Technology | 13.7 |
|  Health Care | 10.9 |
|  Consumer Discretionary | 9.0 |
|  Consumer Staples | 8.2 |
|  Communication Services | 4.4 |
|  Materials | 4.2 |
|  Investment Company | 2.8 |
|  Energy | 2.4 |
|  Utilities | 1.9 |
|  Real Estate | 0.4 |
|  | 100.0% |

---

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

---

| | |
|:---|:---|
| **Investment Abbreviations:** | **Investment Abbreviations:** |
| ADR | — American Depositary Receipt |
| GDR | — Global Depository Receipt |
| PLC | — Public Limited Company |

---

------

MULTI-MANAGER U.S. SMALL CAP EQUITY FUND

## Schedule of Investments
*January 31, 2026 (Unaudited)* 

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – 96.9%** | **Common Stocks – 96.9%** | **Common Stocks – 96.9%** |
| **Aerospace & Defense – 1.6%** | **Aerospace & Defense – 1.6%** | **Aerospace & Defense – 1.6%** |
| 8300 | AAR Corp.\* | $879053 |
| 1209 | AeroVironment, Inc.\* | 336574 |
| 2154 | BWX Technologies, Inc. | 442496 |
| 1883 | Curtiss-Wright Corp. | 1236547 |
| 425 | Ducommun, Inc.\* | 48174 |
| 13974 | Karman Holdings, Inc.\* | 1450501 |
| 11488 | Kratos Defense & Security Solutions, Inc.\* | 1183379 |
| 7876 | Loar Holdings, Inc.\* | 540136 |
| 49530 | StandardAero, Inc.\* | 1529982 |
| 7209 | V2X, Inc.\* | 496195 |
| 9238 | Voyager Technologies, Inc. Class A\* | 282036 |
| 1499 | Woodward, Inc. | 476442 |
| 2043 | York Space Systems, Inc.\* | 69360 |
|  |  | 8970875 |
| **Air Freight & Logistics – 0.7%** | **Air Freight & Logistics – 0.7%** |  |
| 16375 | GXO Logistics, Inc.\* | 926661 |
| 65473 | Hub Group, Inc. Class A | 3115206 |
|  |  | 4041867 |
| **Automobile Components – 1.4%** | **Automobile Components – 1.4%** |  |
| 27143 | Dorman Products, Inc.\* | 3371161 |
| 81310 | Goodyear Tire & Rubber Co.\* | 765127 |
| 4630 | LCI Industries | 679175 |
| 5637 | Lear Corp. | 660036 |
| 47500 | Mobileye Global, Inc. Class A\* | 426550 |
| 4701 | Patrick Industries, Inc. | 593125 |
| 18449 | Visteon Corp. | 1676276 |
|  |  | 8171450 |
| **Banks – 8.9%** | **Banks – 8.9%** |  |
| 20493 | Amerant Bancorp, Inc. | 444698 |
| 19320 | Ameris Bancorp | 1557578 |
| 10045 | Axos Financial, Inc.\* | 994355 |
| 14275 | Banner Corp. | 882766 |
| 4629 | Bar Harbor Bankshares | 156969 |
| 155947 | Blue Ridge Bankshares, Inc. | 662775 |
| 30956 | Byline Bancorp, Inc. | 988425 |
| 11185 | Cadence Bank | 471000 |
| 38183 | California BanCorp | 686912 |
| 11551 | Capital City Bank Group, Inc. | 482370 |
| 29569 | Columbia Banking System, Inc. | 870511 |
| 17747 | ConnectOne Bancorp, Inc. | 472425 |
| 10755 | East West Bancorp, Inc. | 1230802 |
| 81655 | Eastern Bankshares, Inc. | 1672703 |
| 23223 | Enterprise Financial Services Corp. | 1331839 |
| 23464 | FB Financial Corp. | 1349884 |
| 15111 | First Bancorp/Southern Pines NC | 875380 |
| 27827 | First Interstate BancSystem, Inc. Class A | 987024 |
| 9698 | First Mid Bancshares, Inc. | 408286 |
| 5000 | First Western Financial, Inc.\* | 125750 |
| 8600 | Glacier Bancorp, Inc. | 435848 |
| 18381 | Hancock Whitney Corp. | 1264613 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **Banks – (continued)** | **Banks – (continued)** | **Banks – (continued)** |
| 53362 | Heritage Commerce Corp. | $679298 |
| 54800 | Heritage Financial Corp. | 1414388 |
| 32539 | Home BancShares, Inc. | 940377 |
| 15488 | Horizon Bancorp, Inc. | 272899 |
| 3500 | Mercantile Bank Corp. | 181930 |
| 7366 | MidWestOne Financial Group, Inc. | 341193 |
| 18600 | National Bank Holdings Corp. Class A | 747348 |
| 8296 | Nicolet Bankshares, Inc. | 1211050 |
| 9590 | Northeast Bank | 1105056 |
| 63850 | Old National Bancorp | 1559855 |
| 46806 | Old Second Bancorp, Inc. | 928631 |
| 9336 | Pinnacle Financial Partners, Inc. | 887760 |
| 9943 | Preferred Bank | 852811 |
| 28296 | Prosperity Bancshares, Inc. | 1952707 |
| 5417 | Red River Bancshares, Inc. | 449936 |
| 69498 | Renasant Corp. | 2620770 |
| 23666 | Seacoast Banking Corp. of Florida | 791391 |
| 9725 | ServisFirst Bancshares, Inc. | 795991 |
| 17163 | Shore Bancshares, Inc. | 325582 |
| 33352 | Simmons First National Corp. Class A | 678046 |
| 7891 | SmartFinancial, Inc. | 315009 |
| 12975 | Southstate Bank Corp. | 1327732 |
| 14525 | Stock Yards Bancorp, Inc. | 983197 |
| 39707 | Towne Bank | 1389745 |
| 15478 | Trustmark Corp. | 658125 |
| 11275 | UMB Financial Corp. | 1433504 |
| 38250 | United Bankshares, Inc. | 1619122 |
| 11157 | United Community Banks, Inc. | 384136 |
| 17662 | WesBanco, Inc. | 623292 |
| 36336 | Wintrust Financial Corp. | 5359197 |
|  |  | 51182991 |
| **Beverages\* – 0.5%** | **Beverages\* – 0.5%** |  |
| 53177 | Vita Coco Co., Inc. | 2836993 |
| **Biotechnology\* – 6.4%** | **Biotechnology\* – 6.4%** | **Biotechnology\* – 6.4%** |
| 25025 | Abivax SA ADR | 2781529 |
| 157206 | ADMA Biologics, Inc. | 2719664 |
| 6369 | Agios Pharmaceuticals, Inc. | 174765 |
| 11596 | Alkermes PLC | 392988 |
| 5162 | Apogee Therapeutics, Inc. | 338163 |
| 9599 | Arcus Biosciences, Inc. | 201963 |
| 17150 | Ascendis Pharma AS ADR | 3877615 |
| 91488 | Bicycle Therapeutics PLC ADR | 587353 |
| 12629 | Blueprint Medicines Corp.<sup>(a)</sup> | 5809 |
| 10326 | Bridgebio Pharma, Inc. | 797890 |
| 1607 | Bright Minds Biosciences, Inc. | 124944 |
| 36564 | Catalyst Pharmaceuticals, Inc. | 888505 |
| 2983 | Celcuity, Inc. | 326400 |
| 12631 | Celldex Therapeutics, Inc. | 310723 |
| 6672 | CG oncology, Inc. | 347278 |
| 12350 | Cogent Biosciences, Inc. | 443489 |
| 10442 | Corvus Pharmaceuticals, Inc. | 216149 |

---

------

MULTI-MANAGER U.S. SMALL CAP EQUITY FUND

## Schedule of Investments (continued)
*January 31, 2026 (Unaudited)* 

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **Biotechnology\* – (continued)** | **Biotechnology\* – (continued)** | **Biotechnology\* – (continued)** |
| 16748 | Cytokinetics, Inc. | $1058306 |
| 3613 | Dianthus Therapeutics, Inc. | 192898 |
| 3960 | Disc Medicine, Inc. | 306187 |
| 13442 | Halozyme Therapeutics, Inc. | 963926 |
| 3511 | Immunocore Holdings PLC ADR | 114283 |
| 5694 | Immunome, Inc. | 140186 |
| 11982 | Janux Therapeutics, Inc. | 164273 |
| 5068 | Kodiak Sciences, Inc. | 115398 |
| 4721 | Kymera Therapeutics, Inc. | 343169 |
| 70862 | Legend Biotech Corp. ADR | 1240085 |
| 1129 | Madrigal Pharmaceuticals, Inc. | 552431 |
| 36055 | MannKind Corp. | 208398 |
| 6853 | Mineralys Therapeutics, Inc. | 211689 |
| 3762 | Mirum Pharmaceuticals, Inc. | 388314 |
| 2593 | Monopar Therapeutics, Inc. | 156565 |
| 2059 | Neurocrine Biosciences, Inc. | 280148 |
| 3331 | Newamsterdam Pharma Co. NV | 103661 |
| 3171 | Nuvalent, Inc. Class A | 326264 |
| 42999 | Palisade Bio, Inc. | 64069 |
| 1490 | Praxis Precision Medicines, Inc. | 467860 |
| 5821 | Protagonist Therapeutics, Inc. | 476158 |
| 7488 | PTC Therapeutics, Inc. | 565569 |
| 15735 | Revolution Medicines, Inc. | 1525508 |
| 34068 | Rhythm Pharmaceuticals, Inc. | 3492651 |
| 29227 | Savara, Inc. | 157826 |
| 9410 | Scholar Rock Holding Corp. | 417239 |
| 6218 | Soleno Therapeutics, Inc. | 239766 |
| 9561 | Spyre Therapeutics, Inc. | 305761 |
| 7240 | Stoke Therapeutics, Inc. | 219662 |
| 6612 | Travere Therapeutics, Inc. | 205567 |
| 9298 | Twist Bioscience Corp. | 381869 |
| 4592 | Ultragenyx Pharmaceutical, Inc. | 110529 |
| 92750 | Vaxcyte, Inc. | 4968618 |
| 7569 | Viridian Therapeutics, Inc. | 249777 |
| 33175 | Xenon Pharmaceuticals, Inc. | 1360507 |
|  |  | 36610344 |
| **Broadline Retail\* – 0.1%** | **Broadline Retail\* – 0.1%** | **Broadline Retail\* – 0.1%** |
| 48539 | Pattern Group, Inc. Class A | 670809 |
| **Building Products – 2.6%** | **Building Products – 2.6%** | **Building Products – 2.6%** |
| 30242 | AAON, Inc. | 2753836 |
| 14943 | AZZ, Inc. | 1857265 |
| 11183 | Gibraltar Industries, Inc.\* | 573241 |
| 13152 | Griffon Corp. | 1071230 |
| 138094 | Hayward Holdings, Inc.\* | 2228837 |
| 86909 | Janus International Group, Inc.\* | 596196 |
| 54125 | Masterbrand, Inc.\* | 655995 |
| 8838 | Modine Manufacturing Co.\* | 1632025 |
| 10943 | Simpson Manufacturing Co., Inc. | 1934504 |
| 1160 | Tecnoglass, Inc. | 56736 |
| 23698 | Trex Co., Inc.\* | 981571 |
| 15455 | Zurn Elkay Water Solutions Corp. | 712630 |
|  |  | 15054066 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **Capital Markets – 3.2%** | **Capital Markets – 3.2%** | **Capital Markets – 3.2%** |
| 118758 | BGC Group, Inc. Class A | $1081885 |
| 7850 | Cohen & Steers, Inc. | 504441 |
| 34690 | DigitalBridge Group, Inc. | 533879 |
| 16700 | Federated Hermes, Inc. | 889776 |
| 17112 | Hamilton Lane, Inc. Class A | 2416899 |
| 10021 | Houlihan Lokey, Inc. | 1686735 |
| 26025 | Lazard, Inc. | 1398063 |
| 6609 | Miami International Holdings, Inc.\* | 275794 |
| 13743 | Perella Weinberg Partners | 306606 |
| 2218 | Piper Sandler Cos. | 768204 |
| 63296 | StepStone Group, Inc. Class A | 4474394 |
| 8400 | Stifel Financial Corp. | 1035720 |
| 15152 | StoneX Group, Inc.\* | 1700964 |
| 49683 | Wealthfront Corp.\* | 431248 |
| 75343 | WisdomTree, Inc. | 1220557 |
|  |  | 18725165 |
| **Chemicals – 2.1%** | **Chemicals – 2.1%** | **Chemicals – 2.1%** |
| 84606 | Avient Corp. | 3058507 |
| 10676 | Cabot Corp. | 770700 |
| 42682 | Element Solutions, Inc. | 1242046 |
| 36197 | HB Fuller Co. | 2175440 |
| 9930 | Ingevity Corp.\* | 653295 |
| 13075 | Innospec, Inc. | 1068489 |
| 22656 | Methanex Corp. | 1081144 |
| 7936 | Quaker Chemical Corp. | 1220081 |
| 7400 | Sensient Technologies Corp. | 699448 |
|  |  | 11969150 |
| **Commercial Services & Supplies – 2.5%** | **Commercial Services & Supplies – 2.5%** | **Commercial Services & Supplies – 2.5%** |
| 16097 | ABM Industries, Inc. | 741106 |
| 12045 | Brink's Co. | 1530197 |
| 58761 | Casella Waste Systems, Inc. Class A\* | 5927810 |
| 16069 | HNI Corp. | 767937 |
| 12500 | MSA Safety, Inc. | 2214375 |
| 30893 | OPENLANE, Inc.\* | 928026 |
| 12762 | Waste Connections, Inc. | 2138911 |
|  |  | 14248362 |
| **Communications Equipment\* – 0.9%** | **Communications Equipment\* – 0.9%** | **Communications Equipment\* – 0.9%** |
| 66711 | Calix, Inc. | 2979980 |
| 18050 | Extreme Networks, Inc. | 263169 |
| 888 | Lumentum Holdings, Inc. | 347954 |
| 53764 | Viavi Solutions, Inc. | 1315068 |
|  |  | 4906171 |
| **Construction & Engineering – 3.4%** | **Construction & Engineering – 3.4%** | **Construction & Engineering – 3.4%** |
| 10153 | Ameresco, Inc. Class A\* | 318195 |
| 20350 | API Group Corp.\* | 845950 |
| 8273 | Centuri Holdings, Inc.\* | 228335 |
| 2237 | Comfort Systems USA, Inc. | 2554878 |
| 3800 | Everus Construction Group, Inc.\* | 336262 |
| 14369 | Granite Construction, Inc. | 1734913 |
| 66869 | Legence Corp. Class A\* | 3136825 |
| 2843 | MYR Group, Inc.\* | 710864 |

---

------

MULTI-MANAGER U.S. SMALL CAP EQUITY FUND

*January 31, 2026 (Unaudited)* 

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **Construction & Engineering – (continued)** | **Construction & Engineering – (continued)** | **Construction & Engineering – (continued)** |
| 47838 | Primoris Services Corp. | $7091983 |
| 1932 | Sterling Infrastructure, Inc.\* | 691482 |
| 2899 | Valmont Industries, Inc. | 1291678 |
| 30575 | WillScot Holdings Corp. | 612417 |
|  |  | 19553782 |
| **Construction Materials – 0.7%** | **Construction Materials – 0.7%** | **Construction Materials – 0.7%** |
| 7421 | Eagle Materials, Inc. | 1512474 |
| 79618 | James Hardie Industries PLC\* | 1830418 |
| 46000 | Titan America SA\* | 798560 |
|  |  | 4141452 |
| **Consumer Finance – 1.3%** | **Consumer Finance – 1.3%** | **Consumer Finance – 1.3%** |
| 1959 | Dave, Inc.\* | 320669 |
| 40664 | FirstCash Holdings, Inc. | 6933212 |
| 10176 | LendingClub Corp.\* | 172076 |
| 4449 | Upstart Holdings, Inc.\* | 174623 |
|  |  | 7600580 |
| **Consumer Staples Distribution & Retail – 1.0%** | **Consumer Staples Distribution & Retail – 1.0%** | **Consumer Staples Distribution & Retail – 1.0%** |
| 10300 | Andersons, Inc. | 638497 |
| 1782 | Casey's General Stores, Inc. | 1080783 |
| 33605 | Chefs' Warehouse, Inc.\* | 2113755 |
| 11894 | PriceSmart, Inc. | 1691446 |
| 6454 | United Natural Foods, Inc.\* | 240282 |
|  |  | 5764763 |
| **Containers & Packaging – 0.2%** | **Containers & Packaging – 0.2%** | **Containers & Packaging – 0.2%** |
| 22400 | Silgan Holdings, Inc. | 966560 |
| **Diversified Consumer Services – 1.9%** | **Diversified Consumer Services – 1.9%** | **Diversified Consumer Services – 1.9%** |
| 10647 | Adtalem Global Education, Inc.\* | 1102497 |
| 12804 | Bright Horizons Family Solutions, Inc.\* | 1186034 |
| 28699 | Frontdoor, Inc.\* | 1696398 |
| 8159 | Grand Canyon Education, Inc.\* | 1418361 |
| 61436 | Laureate Education, Inc.\* | 2107255 |
| 176166 | Mister Car Wash, Inc.\* | 977721 |
| 78853 | OneSpaWorld Holdings Ltd. | 1549461 |
| 9100 | Stride, Inc.\* | 769860 |
|  |  | 10807587 |
| **Diversified REITs – 0.2%** | **Diversified REITs – 0.2%** | **Diversified REITs – 0.2%** |
| 44930 | Essential Properties Realty Trust, Inc. | 1364075 |
| **Electric Utilities – 0.7%** | **Electric Utilities – 0.7%** | **Electric Utilities – 0.7%** |
| 16182 | IDACORP, Inc. | 2148808 |
| 8025 | MGE Energy, Inc. | 641037 |
| 11292 | OGE Energy Corp. | 493234 |
| 6392 | Oklo, Inc.\* | 508931 |
|  |  | 3792010 |
| **Electrical Equipment – 2.1%** | **Electrical Equipment – 2.1%** | **Electrical Equipment – 2.1%** |
| 25885 | Bloom Energy Corp. Class A\* | 3918212 |
| 9742 | EnerSys | 1755411 |
| 8316 | Fluence Energy, Inc.\* | 255883 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **Electrical Equipment – (continued)** | **Electrical Equipment – (continued)** | **Electrical Equipment – (continued)** |
| 1637 | Generac Holdings, Inc.\* | $275082 |
| 32394 | Nextpower, Inc. Class A\* | 3793014 |
| 5412 | Regal Rexnord Corp. | 874038 |
| 32955 | Sensata Technologies Holding PLC | 1139913 |
| 5617 | Sunrun, Inc.\* | 106723 |
|  |  | 12118276 |
| **Electronic Equipment, Instruments & Components – 3.9%** | **Electronic Equipment, Instruments & Components – 3.9%** | **Electronic Equipment, Instruments & Components – 3.9%** |
| 3903 | Advanced Energy Industries, Inc. | 996670 |
| 2538 | Aeva Technologies, Inc.\* | 32410 |
| 6396 | Arrow Electronics, Inc.\* | 847406 |
| 17917 | Avnet, Inc. | 1117842 |
| 15237 | Belden, Inc. | 1790500 |
| 14501 | Benchmark Electronics, Inc. | 756082 |
| 19100 | Crane NXT Co. | 964932 |
| 5118 | Fabrinet\* | 2504954 |
| 71576 | Ingram Micro Holding Corp. | 1511685 |
| 4138 | Insight Enterprises, Inc.\* | 347675 |
| 4934 | Littelfuse, Inc. | 1597432 |
| 24488 | Mirion Technologies, Inc.\* | 608282 |
| 11140 | Novanta, Inc.\* | 1498776 |
| 2822 | OSI Systems, Inc.\* | 705895 |
| 18825 | Plexus Corp.\* | 3752387 |
| 16100 | Ralliant Corp. | 852817 |
| 2800 | TTM Technologies, Inc.\* | 274960 |
| 18000 | Vishay Intertechnology, Inc. | 362700 |
| 47065 | Vontier Corp. | 1764937 |
|  |  | 22288342 |
| **Energy Equipment & Services – 2.2%** | **Energy Equipment & Services – 2.2%** | **Energy Equipment & Services – 2.2%** |
| 41449 | Archrock, Inc. | 1226476 |
| 13473 | Bristow Group, Inc.\* | 592273 |
| 22595 | Cactus, Inc. Class A | 1270517 |
| 17735 | Helix Energy Solutions Group, Inc.\* | 140816 |
| 20200 | Helmerich & Payne, Inc. | 684376 |
| 16485 | Innovex International, Inc.\* | 409652 |
| 8160 | Liberty Energy, Inc. | 201144 |
| 1765 | National Energy Services Reunited Corp.\* | 34735 |
| 95514 | Oceaneering International, Inc.\* | 2874971 |
| 9723 | Seadrill Ltd.\* | 374141 |
| 47975 | Select Water Solutions, Inc. | 580018 |
| 5805 | Solaris Energy Infrastructure, Inc. | 320378 |
| 12080 | TechnipFMC PLC | 673098 |
| 14235 | Tidewater, Inc.\* | 889545 |
| 1562 | Valaris Ltd.\* | 90174 |
| 23688 | Weatherford International PLC | 2228567 |
|  |  | 12590881 |
| **Entertainment – 1.0%** | **Entertainment – 1.0%** | **Entertainment – 1.0%** |
| 6297 | Atlanta Braves Holdings, Inc. Class C\* | 251439 |
| 28209 | Cinemark Holdings, Inc. | 667989 |
| 102656 | IMAX Corp.\* | 3583721 |

---

------

MULTI-MANAGER U.S. SMALL CAP EQUITY FUND

*January 31, 2026 (Unaudited)* 

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **Entertainment – (continued)** | **Entertainment – (continued)** | **Entertainment – (continued)** |
| 3675 | Madison Square Garden Sports Corp.\* | $1042046 |
| 412 | Take-Two Interactive Software, Inc.\* | 90764 |
|  |  | 5635959 |
| **Financial Services – 2.0%** | **Financial Services – 2.0%** | **Financial Services – 2.0%** |
| 30850 | Essent Group Ltd. | 1941082 |
| 7047 | Euronet Worldwide, Inc.\* | 510626 |
| 16210 | EVERTEC, Inc. | 486462 |
| 6534 | Federal Agricultural Mortgage Corp. Class C | 1106206 |
| 47715 | Flywire Corp.\* | 601209 |
| 30538 | HA Sustainable Infrastructure Capital, Inc. | 1050813 |
| 130871 | Marqeta, Inc. Class A\* | 540497 |
| 32800 | NCR Atleos Corp.\* | 1223440 |
| 8370 | PennyMac Financial Services, Inc. | 836330 |
| 27562 | Remitly Global, Inc.\* | 364370 |
| 27450 | Voya Financial, Inc. | 2104317 |
| 5405 | WEX, Inc.\* | 831829 |
|  |  | 11597181 |
| **Food Products – 0.4%** | **Food Products – 0.4%** | **Food Products – 0.4%** |
| 68200 | Dole PLC | 1086426 |
| 4924 | Freshpet, Inc.\* | 343203 |
| 7783 | Ingredion, Inc. | 919172 |
| 3172 | Mama's Creations, Inc.\* | 47897 |
| 4683 | Vital Farms, Inc.\* | 133232 |
|  |  | 2529930 |
| **Gas Utilities – 0.3%** | **Gas Utilities – 0.3%** | **Gas Utilities – 0.3%** |
| 5541 | Chesapeake Utilities Corp. | 713016 |
| 7854 | ONE Gas, Inc. | 624864 |
| 4198 | Spire, Inc. | 354689 |
|  |  | 1692569 |
| **Ground Transportation – 1.3%** | **Ground Transportation – 1.3%** | **Ground Transportation – 1.3%** |
| 3792 | Landstar System, Inc. | 566373 |
| 47951 | Lyft, Inc. Class A\* | 808933 |
| 8853 | Saia, Inc.\* | 2964604 |
| 95666 | Werner Enterprises, Inc. | 3276561 |
|  |  | 7616471 |
| **Health Care Equipment & Supplies\* – 2.3%** | **Health Care Equipment & Supplies\* – 2.3%** | **Health Care Equipment & Supplies\* – 2.3%** |
| 8173 | AtriCure, Inc. | 301829 |
| 5800 | Axogen, Inc. | 202130 |
| 48600 | Envista Holdings Corp. | 1140642 |
| 36355 | Establishment Labs Holdings, Inc. | 2477593 |
| 10231 | Haemonetics Corp. | 681998 |
| 1818 | Inspire Medical Systems, Inc. | 137768 |
| 9845 | IRhythm Holdings, Inc. | 1521151 |
| 22271 | Kestra Medical Technologies Ltd. | 549426 |
| 7754 | LivaNova PLC | 509515 |
| 22936 | Masimo Corp. | 3149801 |
| 5539 | Merit Medical Systems, Inc. | 449158 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **Health Care Equipment & Supplies\* – (continued)** | **Health Care Equipment & Supplies\* – (continued)** | **Health Care Equipment & Supplies\* – (continued)** |
| 23437 | Omnicell, Inc. | $1136695 |
| 33629 | OrthoPediatrics Corp. | 587162 |
| 39205 | SI-BONE, Inc. | 650019 |
|  |  | 13494887 |
| **Health Care Providers & Services – 4.6%** | **Health Care Providers & Services – 4.6%** | **Health Care Providers & Services – 4.6%** |
| 10693 | Addus HomeCare Corp.\* | 1106512 |
| 25259 | Alignment Healthcare, Inc.\* | 569085 |
| 46981 | AMN Healthcare Services, Inc.\* | 1000695 |
| 79536 | Aveanna Healthcare Holdings, Inc.\* | 668103 |
| 11348 | BrightSpring Health Services, Inc.\* | 445636 |
| 86316 | Brookdale Senior Living, Inc.\* | 1294740 |
| 5220 | Castle Biosciences, Inc.\* | 205616 |
| 1765 | Chemed Corp. | 753902 |
| 6660 | Concentra Group Holdings Parent, Inc. | 147719 |
| 11735 | Encompass Health Corp. | 1109310 |
| 8484 | Ensign Group, Inc. | 1456364 |
| 27388 | GeneDx Holdings Corp.\* | 2636369 |
| 15456 | Guardant Health, Inc.\* | 1762602 |
| 34490 | Guardian Pharmacy Services, Inc. Class A\* | 1041598 |
| 58454 | HealthEquity, Inc.\* | 5007754 |
| 10314 | Hims & Hers Health, Inc.\* | 279406 |
| 102053 | Option Care Health, Inc.\* | 3469802 |
| 77448 | Pediatrix Medical Group, Inc.\* | 1655838 |
| 5497 | Privia Health Group, Inc.\* | 127640 |
| 24983 | RadNet, Inc.\* | 1751308 |
|  |  | 26489999 |
| **Health Care REITs – 0.5%** | **Health Care REITs – 0.5%** | **Health Care REITs – 0.5%** |
| 33633 | American Healthcare REIT, Inc. | 1577724 |
| 27376 | CareTrust REIT, Inc. | 1022220 |
|  |  | 2599944 |
| **Health Care Technology\* – 0.0%** | **Health Care Technology\* – 0.0%** | **Health Care Technology\* – 0.0%** |
| 5518 | Waystar Holding Corp. | 146558 |
| **Hotel & Resort REITs – 0.4%** | **Hotel & Resort REITs – 0.4%** | **Hotel & Resort REITs – 0.4%** |
| 77550 | Apple Hospitality REIT, Inc. | 902682 |
| 10300 | Ryman Hospitality Properties, Inc. | 975410 |
| 38189 | Xenia Hotels & Resorts, Inc. | 563288 |
|  |  | 2441380 |
| **Hotels, Restaurants & Leisure – 2.4%** | **Hotels, Restaurants & Leisure – 2.4%** | **Hotels, Restaurants & Leisure – 2.4%** |
| 17723 | Black Rock Coffee Bar, Inc. Class A\* | 264250 |
| 21753 | Boyd Gaming Corp. | 1838999 |
| 1046 | Brinker International, Inc.\* | 164975 |
| 17100 | Cheesecake Factory, Inc. | 991116 |
| 45886 | Dutch Bros, Inc. Class A\* | 2495739 |
| 366470 | Genius Sports Ltd.\* | 3188289 |
| 62000 | Life Time Group Holdings, Inc.\* | 1808540 |
| 21000 | Pursuit Attractions & Hospitality, Inc.\* | 729330 |
| 8614 | Red Rock Resorts, Inc. Class A | 543802 |
| 7688 | Shake Shack, Inc. Class A\* | 680926 |

---

------

MULTI-MANAGER U.S. SMALL CAP EQUITY FUND

*January 31, 2026 (Unaudited)* 

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **Hotels, Restaurants & Leisure – (continued)** | **Hotels, Restaurants & Leisure – (continued)** | **Hotels, Restaurants & Leisure – (continued)** |
| 1328 | Wingstop, Inc. | $352491 |
| 8824 | Wyndham Hotels & Resorts, Inc. | 642299 |
|  |  | 13700756 |
| **Household Durables – 1.0%** | **Household Durables – 1.0%** | **Household Durables – 1.0%** |
| 1529 | Cavco Industries, Inc.\* | 752299 |
| 7783 | Century Communities, Inc. | 490173 |
| 9314 | Champion Homes, Inc.\* | 730031 |
| 7069 | Green Brick Partners, Inc.\* | 490518 |
| 1311 | Installed Building Products, Inc. | 377751 |
| 11439 | Smith Douglas Homes Corp.\* | 206360 |
| 13273 | Taylor Morrison Home Corp.\* | 808989 |
| 4318 | TopBuild Corp.\* | 2021040 |
|  |  | 5877161 |
| **Household Products\* – 0.1%** | **Household Products\* – 0.1%** | **Household Products\* – 0.1%** |
| 27600 | Central Garden & Pet Co. Class A | 846492 |
| **Independent Power and Renewable Electricity Producers – 0.2%** | **Independent Power and Renewable Electricity Producers – 0.2%** | **Independent Power and Renewable Electricity Producers – 0.2%** |
| 8653 | Ormat Technologies, Inc. | 1081106 |
| **Industrial REITs – 0.2%** | **Industrial REITs – 0.2%** | **Industrial REITs – 0.2%** |
| 4054 | EastGroup Properties, Inc. | 736369 |
| 12007 | First Industrial Realty Trust, Inc. | 696766 |
|  |  | 1433135 |
| **Insurance – 2.3%** | **Insurance – 2.3%** | **Insurance – 2.3%** |
| 15839 | Assured Guaranty Ltd. | 1343939 |
| 18677 | Axis Capital Holdings Ltd. | 1927093 |
| 16133 | Baldwin Insurance Group, Inc.\* | 353635 |
| 21650 | Bowhead Specialty Holdings, Inc.\* | 531724 |
| 11836 | Employers Holdings, Inc. | 516286 |
| 22798 | First American Financial Corp. | 1440378 |
| 26646 | Hamilton Insurance Group Ltd. Class B\* | 739427 |
| 4500 | Hanover Insurance Group, Inc. | 783630 |
| 8872 | Oscar Health, Inc. Class A\* | 127313 |
| 28619 | Palomar Holdings, Inc.\* | 3537022 |
| 75336 | SiriusPoint Ltd.\* | 1537608 |
| 168 | White Mountains Insurance Group Ltd. | 343548 |
|  |  | 13181603 |
| **Interactive Media & Services\* – 0.4%** | **Interactive Media & Services\* – 0.4%** | **Interactive Media & Services\* – 0.4%** |
| 71059 | Cargurus, Inc. | 2302312 |
| **IT Services\* – 0.2%** | **IT Services\* – 0.2%** | **IT Services\* – 0.2%** |
| 16168 | Applied Digital Corp. | 547772 |
| 11325 | DigitalOcean Holdings, Inc. | 625706 |
|  |  | 1173478 |
| **Leisure Products\* – 0.2%** | **Leisure Products\* – 0.2%** | **Leisure Products\* – 0.2%** |
| 36219 | Callaway Golf Co. | 519742 |
| 88192 | Latham Group, Inc. | 554728 |
|  |  | 1074470 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **Life Sciences Tools & Services – 1.7%** | **Life Sciences Tools & Services – 1.7%** | **Life Sciences Tools & Services – 1.7%** |
| 16211 | 10X Genomics, Inc. Class A\* | $327462 |
| 107270 | Adaptive Biotechnologies Corp.\* | 1984495 |
| 6694 | Bio-Rad Laboratories, Inc. Class A\* | 1966028 |
| 23105 | Bio-Techne Corp. | 1480799 |
| 31671 | Bruker Corp. | 1402709 |
| 6500 | Charles River Laboratories International, Inc.\* | 1368120 |
| 17088 | Cytek Biosciences, Inc.\* | 85440 |
| 57868 | Maravai LifeSciences Holdings, Inc. Class A\* | 194437 |
| 22400 | Qiagen NV | 1202248 |
|  |  | 10011738 |
| **Machinery – 2.9%** | **Machinery – 2.9%** | **Machinery – 2.9%** |
| 5825 | Alamo Group, Inc. | 1137681 |
| 26159 | Alliance Laundry Holdings, Inc.\* | 577591 |
| 11000 | Donaldson Co., Inc. | 1121340 |
| 11783 | Enerpac Tool Group Corp. | 475562 |
| 4384 | Enpro, Inc. | 1046811 |
| 2225 | Esab Corp. | 269447 |
| 976 | ESCO Technologies, Inc. | 222694 |
| 32700 | Gates Industrial Corp. PLC\* | 752754 |
| 12100 | Gorman-Rupp Co. | 659329 |
| 9301 | Helios Technologies, Inc. | 602519 |
| 2648 | IDEX Corp. | 525760 |
| 8670 | ITT, Inc. | 1580541 |
| 6725 | JBT Marel Corp. | 1057910 |
| 2938 | Kadant, Inc. | 943216 |
| 11371 | Kennametal, Inc. | 391049 |
| 2841 | Lindsay Corp. | 355892 |
| 5400 | Mueller Industries, Inc. | 735156 |
| 11095 | Mueller Water Products, Inc. Class A | 300342 |
| 8579 | SPX Technologies, Inc.\* | 1787949 |
| 8595 | Terex Corp. | 489915 |
| 12900 | Timken Co. | 1202151 |
| 2175 | Watts Water Technologies, Inc. Class A | 650999 |
| 1625 | Worthington Enterprises, Inc. | 90301 |
|  |  | 16976909 |
| **Marine Transportation – 0.2%** | **Marine Transportation – 0.2%** | **Marine Transportation – 0.2%** |
| 7294 | Matson, Inc. | 1169228 |
| **Media\* – 1.1%** | **Media\* – 1.1%** | **Media\* – 1.1%** |
| 39646 | DoubleVerify Holdings, Inc. | 428970 |
| 6287 | EchoStar Corp. Class A | 711814 |
| 172764 | Magnite, Inc. | 2499895 |
| 54831 | MNTN, Inc. Class A | 504445 |
| 76644 | NIQ Global Intelligence PLC | 1302181 |
| 125362 | Stagwell, Inc. | 753426 |
|  |  | 6200731 |
| **Metals & Mining – 1.3%** | **Metals & Mining – 1.3%** | **Metals & Mining – 1.3%** |
| 718 | Alpha Metallurgical Resources, Inc.\* | 150637 |
| 2610 | Century Aluminum Co.\* | 118311 |
| 53969 | Coeur Mining, Inc.\* | 1103126 |

---

------

MULTI-MANAGER U.S. SMALL CAP EQUITY FUND

*January 31, 2026 (Unaudited)* 

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **Metals & Mining – (continued)** | **Metals & Mining – (continued)** | **Metals & Mining – (continued)** |
| 33752 | Commercial Metals Co. | $2594516 |
| 8505 | Constellium SE\* | 191107 |
| 33798 | Hecla Mining Co. | 761131 |
| 10055 | Ivanhoe Electric, Inc.\* | 171840 |
| 690 | Kaiser Aluminum Corp. | 84608 |
| 20610 | Novagold Resources, Inc.\* | 179925 |
| 12887 | OR Royalties, Inc. | 508263 |
| 5832 | Perpetua Resources Corp.\* | 155248 |
| 10382 | SSR Mining, Inc.\* | 237021 |
| 11112 | Warrior Met Coal, Inc. | 992302 |
| 1682 | Worthington Steel, Inc. | 67667 |
|  |  | 7315702 |
| **Mortgage Real Estate Investment Trusts (REITs) – 0.2%** | **Mortgage Real Estate Investment Trusts (REITs) – 0.2%** | **Mortgage Real Estate Investment Trusts (REITs) – 0.2%** |
| 48634 | PennyMac Mortgage Investment Trust | 575340 |
| 88320 | Redwood Trust, Inc. | 483994 |
|  |  | 1059334 |
| **Multi-Utilities – 0.1%** | **Multi-Utilities – 0.1%** | **Multi-Utilities – 0.1%** |
| 5825 | Unitil Corp. | 296551 |
| **Office REITs – 0.2%** | **Office REITs – 0.2%** | **Office REITs – 0.2%** |
| 26070 | Cousins Properties, Inc. | 658007 |
| 6117 | SL Green Realty Corp. | 273919 |
|  |  | 931926 |
| **Oil, Gas & Consumable Fuels – 2.2%** | **Oil, Gas & Consumable Fuels – 2.2%** | **Oil, Gas & Consumable Fuels – 2.2%** |
| 22250 | California Resources Corp. | 1190375 |
| 5567 | Calumet, Inc.\* | 124756 |
| 527 | Centrus Energy Corp. Class A\* | 146654 |
| 9802 | Chord Energy Corp. | 982552 |
| 6131 | CNX Resources Corp.\* | 237883 |
| 2973 | Core Natural Resources, Inc. | 283565 |
| 3608 | Energy Fuels, Inc.\* | 80963 |
| 8592 | Excelerate Energy, Inc. Class A | 320911 |
| 7488 | Gulfport Energy Corp.\* | 1528825 |
| 8757 | Kinetik Holdings, Inc. | 358249 |
| 41300 | Magnolia Oil & Gas Corp. Class A | 1053563 |
| 37561 | Matador Resources Co. | 1699260 |
| 6776 | Peabody Energy Corp. | 238922 |
| 39180 | Permian Resources Corp. | 631973 |
| 19215 | Range Resources Corp. | 727288 |
| 5603 | SM Energy Co. | 109090 |
| 29833 | South Bow Corp. | 847257 |
| 26169 | Uranium Energy Corp.\* | 451154 |
| 15343 | Viper Energy, Inc. Class A | 649623 |
| 40384 | World Kinect Corp. | 1086733 |
|  |  | 12749596 |
| **Paper & Forest Products – 0.1%** | **Paper & Forest Products – 0.1%** | **Paper & Forest Products – 0.1%** |
| 9600 | Louisiana-Pacific Corp. | 803904 |
| **Personal Products – 0.1%** | **Personal Products – 0.1%** | **Personal Products – 0.1%** |
| 3306 | BellRing Brands, Inc.\* | 82220 |
| 715 | elf Beauty, Inc.\* | 60768 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **Personal Products – (continued)** | **Personal Products – (continued)** | **Personal Products – (continued)** |
| 4525 | Interparfums, Inc. | $441504 |
| 3271 | Oddity Tech Ltd. Class A\* | 107420 |
|  |  | 691912 |
| **Pharmaceuticals\* – 0.9%** | **Pharmaceuticals\* – 0.9%** | **Pharmaceuticals\* – 0.9%** |
| 4058 | Axsome Therapeutics, Inc. | 747686 |
| 9252 | Crinetics Pharmaceuticals, Inc. | 462045 |
| 14390 | Definium Therapeutics, Inc. | 242903 |
| 22934 | Harmony Biosciences Holdings, Inc. | 837550 |
| 3775 | Ligand Pharmaceuticals, Inc. | 725178 |
| 7859 | MBX Biosciences, Inc. | 289604 |
| 5979 | Pharvaris NV | 161732 |
| 9628 | Structure Therapeutics, Inc. ADR | 851597 |
| 5983 | Terns Pharmaceuticals, Inc. | 207012 |
| 24838 | Trevi Therapeutics, Inc. | 260054 |
| 27504 | Xeris Biopharma Holdings, Inc. | 202429 |
|  |  | 4987790 |
| **Professional Services – 2.3%** | **Professional Services – 2.3%** | **Professional Services – 2.3%** |
| 165449 | Alight, Inc. Class A | 253137 |
| 26357 | Andersen Group, Inc. Class A\* | 591715 |
| 13901 | Concentrix Corp. | 519202 |
| 64512 | First Advantage Corp.\* | 870912 |
| 2241 | FTI Consulting, Inc.\* | 391435 |
| 7476 | Huron Consulting Group, Inc.\* | 1263444 |
| 9036 | Innodata, Inc.\* | 500956 |
| 19759 | KBR, Inc. | 845883 |
| 31861 | Korn Ferry | 2213384 |
| 77377 | Legalzoom.com, Inc.\* | 687881 |
| 11092 | Maximus, Inc. | 1047528 |
| 38150 | Parsons Corp.\* | 2672789 |
| 58457 | Upwork, Inc.\* | 1170894 |
|  |  | 13029160 |
| **Real Estate Management & Development – 0.5%** | **Real Estate Management & Development – 0.5%** | **Real Estate Management & Development – 0.5%** |
| 3150 | Colliers International Group, Inc. | 430605 |
| 88033 | Compass, Inc. Class A\* | 1102173 |
| 5539 | FirstService Corp. | 859985 |
| 14644 | Five Point Holdings LLC Class A\* | 77760 |
| 37221 | Newmark Group, Inc. Class A | 663650 |
|  |  | 3134173 |
| **Residential REITs – 0.1%** | **Residential REITs – 0.1%** | **Residential REITs – 0.1%** |
| 9727 | Centerspace | 625154 |
| **Retail REITs – 0.3%** | **Retail REITs – 0.3%** | **Retail REITs – 0.3%** |
| 31167 | Acadia Realty Trust | 623652 |
| 18950 | Curbline Properties Corp. | 459538 |
| 28602 | Tanger, Inc. | 935857 |
|  |  | 2019047 |
| **Semiconductors & Semiconductor Equipment – 4.8%** | **Semiconductors & Semiconductor Equipment – 4.8%** | **Semiconductors & Semiconductor Equipment – 4.8%** |
| 9575 | Allegro MicroSystems, Inc.\* | 353413 |
| 6465 | Amkor Technology, Inc. | 312454 |
| 10592 | Axcelis Technologies, Inc.\* | 932838 |
| 4844 | Cirrus Logic, Inc.\* | 631367 |

---

------

MULTI-MANAGER U.S. SMALL CAP EQUITY FUND

*January 31, 2026 (Unaudited)* 

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **Semiconductors & Semiconductor Equipment – (continued)** | **Semiconductors & Semiconductor Equipment – (continued)** | **Semiconductors & Semiconductor Equipment – (continued)** |
| 33750 | Cohu, Inc.\* | $963225 |
| 22111 | Credo Technology Group Holding Ltd.\* | 2770066 |
| 11803 | Entegris, Inc. | 1393580 |
| 11825 | FormFactor, Inc.\* | 833544 |
| 1866 | Impinj, Inc.\* | 257695 |
| 38440 | indie Semiconductor, Inc. Class A\* | 157604 |
| 1350 | Kulicke & Soffa Industries, Inc. | 77396 |
| 26589 | Lattice Semiconductor Corp.\* | 2140946 |
| 11300 | MKS, Inc. | 2660133 |
| 9533 | Onto Innovation, Inc.\* | 1926143 |
| 50360 | Photronics, Inc.\* | 1740945 |
| 19664 | Power Integrations, Inc. | 903364 |
| 5512 | Qorvo, Inc.\* | 430542 |
| 13105 | Rambus, Inc.\* | 1491742 |
| 6611 | Rigetti Computing, Inc.\* | 120122 |
| 47373 | Semtech Corp.\* | 3777997 |
| 2432 | Silicon Laboratories, Inc.\* | 346438 |
| 5211 | SiTime Corp.\* | 1892166 |
| 2900 | Tower Semiconductor Ltd.\* | 390717 |
| 9215 | Universal Display Corp. | 1058066 |
|  |  | 27562503 |
| **Software – 4.4%** | **Software – 4.4%** | **Software – 4.4%** |
| 26245 | A10 Networks, Inc. | 457713 |
| 70886 | Adeia, Inc. | 1282328 |
| 15222 | Amplitude, Inc. Class A\* | 139586 |
| 137114 | Braze, Inc. Class A\* | 2854713 |
| 320946 | CCC Intelligent Solutions Holdings, Inc.\* | 2432771 |
| 8795 | Cipher Mining, Inc.\* | 140368 |
| 34906 | Clear Secure, Inc. Class A | 1138634 |
| 60798 | Clearwater Analytics Holdings, Inc. Class A\* | 1464624 |
| 23698 | Commvault Systems, Inc.\* | 2030919 |
| 5107 | Confluent, Inc. Class A\* | 155968 |
| 6387 | Core Scientific, Inc.\* | 114902 |
| 20364 | Descartes Systems Group, Inc.\* | 1522413 |
| 9534 | D-Wave Quantum, Inc.\* | 202311 |
| 69147 | Dynatrace, Inc.\* | 2633809 |
| 3206 | Guidewire Software, Inc.\* | 451276 |
| 12126 | Hut 8 Corp.\* | 676995 |
| 4711 | InterDigital, Inc. | 1537859 |
| 31265 | LiveRamp Holdings, Inc.\* | 761303 |
| 5540 | MARA Holdings, Inc.\* | 52630 |
| 51670 | NCR Voyix Corp.\* | 512566 |
| 41467 | Onestream, Inc.\* | 979036 |
| 16270 | Procore Technologies, Inc.\* | 919092 |
| 80917 | Riot Platforms, Inc.\* | 1251786 |
| 44011 | Terawulf, Inc.\* | 588427 |
| 62435 | Vertex, Inc. Class A\* | 1158169 |
| 6600 | Via Transportation, Inc. Class A\* | 153450 |
|  |  | 25613648 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **Specialized REITs – 0.5%** | **Specialized REITs – 0.5%** | **Specialized REITs – 0.5%** |
| 50100 | Four Corners Property Trust, Inc. | $1234965 |
| 3849 | Millrose Properties, Inc. | 114700 |
| 40572 | Outfront Media, Inc. | 986711 |
| 29600 | Rayonier, Inc. | 673104 |
|  |  | 3009480 |
| **Specialty Retail – 1.9%** | **Specialty Retail – 1.9%** | **Specialty Retail – 1.9%** |
| 3729 | Abercrombie & Fitch Co. Class A\* | 364062 |
| 19406 | Academy Sports & Outdoors, Inc. | 1067524 |
| 13017 | Advance Auto Parts, Inc. | 624946 |
| 5063 | Boot Barn Holdings, Inc.\* | 903644 |
| 42825 | Gap, Inc. | 1198244 |
| 4792 | Group 1 Automotive, Inc. | 1697614 |
| 7247 | Murphy USA, Inc. | 3061930 |
| 29453 | National Vision Holdings, Inc.\* | 776087 |
| 5947 | Urban Outfitters, Inc.\* | 421345 |
| 19509 | Valvoline, Inc.\* | 638334 |
| 3815 | Warby Parker, Inc. Class A\* | 97321 |
|  |  | 10851051 |
| **Technology Hardware, Storage & Peripherals\* – 0.2%** | **Technology Hardware, Storage & Peripherals\* – 0.2%** | **Technology Hardware, Storage & Peripherals\* – 0.2%** |
| 25875 | IonQ, Inc. | 1034482 |
| **Textiles, Apparel & Luxury Goods – 0.6%** | **Textiles, Apparel & Luxury Goods – 0.6%** | **Textiles, Apparel & Luxury Goods – 0.6%** |
| 68401 | Birkenstock Holding PLC\* | 2582822 |
| 2548 | Kontoor Brands, Inc. | 152192 |
| 15309 | Steven Madden Ltd. | 671759 |
|  |  | 3406773 |
| **Tobacco – 0.0%** | **Tobacco – 0.0%** | **Tobacco – 0.0%** |
| 863 | Turning Point Brands, Inc. | 104552 |
| **Trading Companies & Distributors – 2.0%** | **Trading Companies & Distributors – 2.0%** | **Trading Companies & Distributors – 2.0%** |
| 7626 | Applied Industrial Technologies, Inc. | 1985887 |
| 5660 | Boise Cascade Co. | 457384 |
| 59499 | DNOW, Inc.\* | 903790 |
| 10033 | DXP Enterprises, Inc.\* | 1304792 |
| 8500 | EquipmentShare.com, Inc. Class A\* | 264350 |
| 13535 | FTAI Aviation Ltd. | 3685851 |
| 12225 | McGrath RentCorp | 1365410 |
| 11900 | MSC Industrial Direct Co., Inc. Class A | 1003646 |
| 4874 | SiteOne Landscape Supply, Inc.\* | 699614 |
|  |  | 11670724 |
| **Water Utilities – 0.0%** | **Water Utilities – 0.0%** | **Water Utilities – 0.0%** |
| 1667 | H2O America | 86751 |
| **Wireless Telecommunication Services\*<sup>(a)</sup> – 0.0%** | **Wireless Telecommunication Services\*<sup>(a)</sup> – 0.0%** | **Wireless Telecommunication Services\*<sup>(a)</sup> – 0.0%** |
| 29864 | GCI Liberty, Inc. |  |
| **TOTAL COMMON STOCKS<br>(Cost $461,042,890)** | **TOTAL COMMON STOCKS<br>(Cost $461,042,890)** | $558634761 |

---

------

MULTI-MANAGER U.S. SMALL CAP EQUITY FUND

*January 31, 2026 (Unaudited)* 

---

| | | |
|:---|:---|:---|
| **Shares** | **Dividend**<br> **Rate** | **Value** |
| **Investment Company<sup>(b)</sup> – 3.7%** | **Investment Company<sup>(b)</sup> – 3.7%** | **Investment Company<sup>(b)</sup> – 3.7%** |
| Goldman Sachs Financial Square Government Fund — Institutional<br>Shares | Goldman Sachs Financial Square Government Fund — Institutional<br>Shares | Goldman Sachs Financial Square Government Fund — Institutional<br>Shares |
| 21115728 | 3.590% | $21115728 |
| **(Cost $21,115,728)** | **(Cost $21,115,728)** |  |
| **TOTAL INVESTMENTS – 100.6%** | **TOTAL INVESTMENTS – 100.6%** |  |
| **(Cost $482,158,618)** | **(Cost $482,158,618)** | $579750489 |
| **LIABILITIES IN EXCESS OF<br>OTHER ASSETS – (0.6)%** | **LIABILITIES IN EXCESS OF<br>OTHER ASSETS – (0.6)%** | (3240328) |
| **NET ASSETS – 100.0%** | **NET ASSETS – 100.0%** | $576510161 |

---

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

\* Non-income producing security.

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

(b) Represents an affiliated issuer.

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

---

| | |
|:---|:---|
| **Investment Abbreviations:** | **Investment Abbreviations:** |
| ADR | — American Depositary Receipt |
| LLC | — Limited Liability Company |
| PLC | — Public Limited Company |
| REIT | — Real Estate Investment Trust |

---

------

ACTIVE EQUITY MULTI-MANAGER FUNDS

*January 31, 2026 (Unaudited)* 

**NOTES TO THE SCHEDULE OF INVESTMENTS** 

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

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

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

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

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

The Board of Trustees ("Trustees") has approved Valuation Procedures that govern the valuation of the portfolio investments held by the Funds, including investments for which market quotations are not readily available. With respect to the Funds' investments that do not have readily available market quotations, the Trustees have designated GSAM as the valuation designee to perform fair valuations pursuant to Rule 2a-5 under the Investment Company Act of 1940 (the "Valuation Designee"). GSAM has day-to-day responsibility for implementing and maintaining internal controls and procedures related to the valuation of the Funds' investments. To assess the continuing appropriateness of pricing sources and methodologies, GSAM regularly performs price verification procedures and issues challenges as necessary to third party pricing vendors or brokers, and any differences are reviewed in accordance with the Valuation Procedures.

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

**Equity Securities** — Equity securities traded on a United States ("U.S.") securities exchange or the NASDAQ system, or those located on certain foreign exchanges, including but not limited to the Americas, are valued daily at their last sale price or official closing price on the principal exchange or system on which they are traded. If there is no sale or official closing price or such price is believed by GSAM to not represent fair value, equity securities will be valued at the valid closing bid price for long positions and at the valid closing ask price for short positions (i.e., where there is sufficient volume, during normal exchange trading hours). If no valid bid/ask price is available, the equity security will be valued pursuant to the Valuation Procedures and consistent with applicable regulatory guidance. To the extent these investments are actively traded, they are classified as Level 1 of the fair value hierarchy, otherwise they are generally classified as Level 2. Certain equity securities containing unique attributes may be classified as Level 2.

Unlisted equity securities for which market quotations are available are valued at the last sale price on the valuation date, or if no sale occurs, at the last bid price for long positions or the last ask price for short positions, and are generally classified as Level 2. Securities traded on certain foreign securities exchanges are valued daily at fair value determined by an independent fair value service (if available) under the Valuation Procedures and consistent with applicable regulatory guidance. The independent fair value service takes into account multiple factors including, but not limited to, movements in the securities markets, certain depositary receipts, futures contracts and foreign currency exchange rates that have occurred subsequent to the close of the foreign securities exchange. These investments are generally classified as Level 2 of the fair value hierarchy.

------

ACTIVE EQUITY MULTI-MANAGER FUNDS

*January 31, 2026 (Unaudited)* 

**NOTES TO THE SCHEDULE OF INVESTMENTS (continued)** 

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

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

**Fair Value Hierarchy** — The following is a summary of the Funds' investments classified in the fair value hierarchy as of January 31, 2026:

---

| | | | |
|:---|:---|:---|:---|
| **MULTI-MANAGER INTERNATIONAL EQUITY FUND**<br>**Investment Type** | <br>**Level 1** | <br>**Level 2** | <br>**Level 3** |
| **Assets** |  |  |  |
|  Common Stock and/or Other Equity Investments<sup>(a)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Asia | $56166915 | $370797794 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; Europe | 69343010 | 1006430720 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; North America | 155919042 | 63258175 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; South America | 10516591 |  |  |
|  Investment Company | 49516408 |  |  |
| **Total** | $341461966 | $1440486689 | $&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

(a) Amounts are disclosed by continent to highlight the impact of time zone differences between local market close and the calculation of NAV. Security valuations are based on the principal exchange or system on which they
are traded, which may differ from country of domicile. The Funds utilize fair value model prices provided by an independent fair value service for international equities, resulting in a Level 2 classification.

---

| | | | |
|:---|:---|:---|:---|
| **MULTI-MANAGER U.S. SMALL CAP EQUITY FUND**<br>**Investment Type** | <br>**Level 1** | <br>**Level 2** | <br>**Level 3** |
| **Assets** |  |  |  |
|  Common Stock and/or Other Equity Investments<sup>(a)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Asia | $3940658 | $— | $&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp; Europe | 19009258 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; North America | 535679036 |  | 5809 |
|  Investment Company | 21115728 |  |  |
| **Total** | $579744680 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $5809 |

---

(a) Amounts are disclosed by continent to highlight the impact of time zone differences between local market close and the calculation of net asset value. Security valuations are based on the principal exchange or system on
which they are traded, which may differ from country of domicile.

------

ACTIVE EQUITY MULTI-MANAGER FUNDS

*January 31, 2026 (Unaudited)* 

**NOTES TO THE SCHEDULE OF INVESTMENTS (continued)** 

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

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

**Asset Allocation Risk** — The Funds' allocations to the various asset classes and to the Underlying Managers may cause the Funds to underperform other funds with a similar investment objective.

**Derivatives Risk** — The Funds' use of derivatives and other similar instruments (collectively referred to in this paragraph as "derivatives") may result in loss, including due to adverse market movements. Derivatives, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other assets and instruments, may increase market exposure and be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of the underlying assets or instruments may produce disproportionate losses to the Funds. Certain derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not, or lacks the capacity or authority to, fulfill its contractual obligations, liquidity risk, which includes the risk that the Funds will not be able to exit the derivative when it is advantageous to do so, and risks arising from margin requirements, which include the risk that the Funds will be required to pay additional margin or set aside additional collateral to maintain open derivative positions. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. Losses from derivatives can also result from a lack of correlation between changes in the value of derivative instruments and the portfolio assets (if any) being hedged.

**Foreign and Emerging Countries Risk** — Investing in foreign markets may involve special risks and considerations not typically associated with investing in the U.S. Foreign securities may be subject to risk of loss because of more or less foreign government regulation; less public information; less stringent investor protections; less stringent accounting, corporate governance, financial reporting and disclosure standards; and less economic, political and social stability in the countries in which a Fund invests. The imposition of sanctions, exchange controls (including repatriation restrictions), confiscation of assets and property, trade restrictions (including tariffs) and other government restrictions by the U.S. or other governments, or from problems in registration, settlement or custody, may also result in losses. The type and severity of sanctions and other similar measures, including counter sanctions and other retaliatory actions, that may be imposed could vary broadly in scope, and their impact is impossible to predict. For example, the imposition of sanctions and other similar measures could, among other things, cause a decline in the value and/or liquidity of securities issued by the sanctioned country or companies located in or economically tied to the sanctioned country and increase market volatility and disruption in the sanctioned country and throughout the world. Sanctions and other similar measures could limit or prevent a Fund from buying and selling securities (in the sanctioned country and other markets), significantly delay or prevent the settlement of securities transactions, and significantly impact a Fund's liquidity and performance. Foreign risk also involves the risk of negative foreign currency exchange rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which a Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. To the extent that a Fund also invests in securities of issuers located in, or economically tied to, emerging markets, these risks may be more pronounced.

**Geographic Risk** — If a Fund focuses its investments in securities of issuers located in a particular country or geographic region, the Fund may be subjected, to a greater extent than if its investments were less focused, to the risks of volatile economic cycles and/or conditions and developments that may be particular to that country or region, such as: adverse securities markets; adverse exchange rates; adverse social, political, regulatory, economic, business, environmental or other developments; or natural disasters.

**Index/Tracking Error Risk** — To the extent that an index-tracking strategy or implementation of a sub-strategy by a transition manager is used with respect to a portion of a Fund's assets, including through investment in an ETF that seeks to track an index or implementation of an index-tracking strategy, the Fund will be negatively affected by general declines in the securities and asset classes represented in the relevant index. There is no guarantee that the Fund, or relevant portion of the Fund, will achieve a high degree of correlation to the relevant index. Market disruptions and regulatory restrictions could have an adverse effect on the Fund's ability, or the ability of an ETF in which it invests, to adjust its exposure to the required levels in order for the relevant

------

ACTIVE EQUITY MULTI-MANAGER FUNDS

*January 31, 2026 (Unaudited)* 

**NOTES TO THE SCHEDULE OF INVESTMENTS (continued)** 

portion of the Fund to track the relevant index. In addition, because that portion of the Fund is not "actively" managed, unless a specific security is removed from the relevant index, the Fund or an ETF in which it invests generally would not sell a security because the security's issuer was in financial trouble. At times when an index-tracking strategy is used with respect to a portion of the Fund's assets, the Fund's performance could be lower than funds that may actively shift all of their portfolio assets to take advantage of market opportunities or to lessen the impact of a market decline or a decline in the value of one or more issuers.

**Investment Style Risk** — Different investment styles (e.g., "growth", "value" or "quantitative") tend to shift in and out of favor depending upon market and economic conditions and investor sentiment. The Funds may outperform or underperform other funds that invest in similar asset classes but employ different investment styles.

**Investments in Other Investment Companies Risk** — As a shareholder of another investment company, including an ETF, a Fund will indirectly bear its proportionate share of any net management fees and other expenses paid by such other investment companies, in addition to the fees and expenses regularly borne by the Fund. In addition, the Fund will be affected by the investment policies, practices and performance of such investment companies in direct proportion to the amount of assets the Fund invests therein. ETFs are subject to risks that do not apply to conventional mutual funds, including, but not limited to, the following: (i) the market price of the ETF's shares may trade at a premium or a discount to their NAV; and (ii) an active trading market for an ETF's shares may not develop or be maintained.

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

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

**Market and Credit Risks** — In the normal course of business, a Fund trades financial instruments and enters into financial transactions where risk of potential loss exists due to changes in the market (market risk). The value of the securities in which a Fund invests may go up or down in response to the prospects of individual companies, particular sectors or governments and/or general economic conditions throughout the world due to increasingly interconnected global economies and financial markets. Events such as war, military conflict, geopolitical disputes, acts of terrorism, social or political unrest, natural disasters, recessions, inflation, rapid interest rate changes, supply chain disruptions, tariffs and other restrictions on trade, sanctions or the

------

ACTIVE EQUITY MULTI-MANAGER FUNDS

*January 31, 2026 (Unaudited)* 

**NOTES TO THE SCHEDULE OF INVESTMENTS (continued)** 

spread of infectious illness or other public health threats, or the threat or potential of one or more such events and developments, could also significantly impact a Fund and its investments. Additionally, a Fund may also be exposed to credit risk in the event that an issuer or guarantor fails to perform or that an institution or entity with which a Fund has unsettled or open transactions defaults.

**Mid-Cap and Small-Cap Risk** — Investments in mid-capitalization and small-capitalization companies involve greater risks than those associated with larger, more established companies. These securities may be subject to more abrupt or erratic price movements and may lack sufficient market liquidity, and these issuers often face greater business risks.

**Multi-Manager Approach Risk** — The Funds' performance depends on the ability of the Investment Adviser in selecting, overseeing, and allocating Fund assets to the Underlying Managers. The Underlying Managers' investment styles may not always be complementary. The Funds' multi-manager approach may result in the Fund investing a significant percentage of its assets in certain types of investments, which could be beneficial or detrimental to the Funds' performance depending on the performance of those investments and the overall market environment. The Funds' Underlying Managers may underperform the market generally or underperform other investment managers that could have been selected for the Funds. Because the Funds' Underlying Managers may trade with counterparties, prime brokers, clearing brokers or futures commission merchants on terms that are different than those on which the Investment Adviser would trade, and because each Underlying Manager applies its own risk analysis in evaluating potential counterparties for the Funds, the Funds may be subject to greater counterparty risk than if they were managed directly by the Investment Adviser.

**Stock Risk** — Stock prices have historically risen and fallen in periodic cycles. U.S. and foreign stock markets have experienced periods of substantial price volatility in the past and may do so again in the future.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Goldman Sachs Trust II

- **b. Investment Company Act file number:** 811-22781

- **c. CIK number of Registrant:** 0001557156

- **d. LEI of Registrant:** 54930076LXUZ0NBAPG06

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 200 WEST STREET

  - **City:** NEW YORK

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10282

  - **Telephone number:** 212-902-1000

**Item A.2. Information about the Series.**

- **a. Name of Series:** Multi-Manager International Equity Fund

- **b. EDGAR series identifier (if any):** S000049850

- **c. LEI of Series:** 5493004BZ4MMUCN2AM80

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-10-31

- **b. Date as of which information is reported:** 2026-01-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $2517705416.60

**Total Liabilities:** $721316684.76

**Net Assets:** $1796388731.84

**Cash Not Reported:** $717381730.10

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000157436 | 0.00%                | 2.72%                | 3.81%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $22122692.05             | $-23368907.92                              |
| Month 2  | $6538319.31              | $38863734.92                               |
| Month 3  | $16448254.69             | $48401111.17                               |

### Schedule of Portfolio Investments

| Name                                           | Title                                          | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Diageo PLC                                     | Diageo PLC                                     | CUSIP: 000000000<br>LEI: 213800ZVIELEA55JMJ32 | Long             | EC               | CORP              | GB        |    481228 | NS      | $11073200.45  | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| British American Tobacco PLC                   | British American Tobacco PLC                   | CUSIP: 000000000<br>LEI: 213800FKA5MF17RJKT63 | Long             | EC               | CORP              | GB        |    446415 | NS      | $26969541.65  | 1.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Standard Chartered PLC                         | Standard Chartered PLC                         | CUSIP: 000000000<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | EC               | CORP              | GB        |    258349 | NS      | $6610228.91   | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Barrick Mining Corp                            | Barrick Mining Corp                            | CUSIP: 06849F108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               | CORP              | CA        |     70989 | NS      | $3244853.93   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Prudential PLC                                 | Prudential PLC                                 | CUSIP: 000000000<br>LEI: 5493001Z3ZE83NGK8Y12 | Long             | EC               | CORP              | GB        |    861731 | NS      | $14154143.95  | 0.79%             |  |  |  | No            |                  2 | On Loan: No      |
| Rio Tinto PLC                                  | Rio Tinto PLC                                  | CUSIP: 000000000<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |     69058 | NS      | $6300458.37   | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| BP PLC                                         | BP PLC                                         | CUSIP: 000000000<br>LEI: 213800LH1BZH3DI6G760 | Long             | EC               | CORP              | GB        |   1976245 | NS      | $12530492.88  | 0.70%             |  |  |  | No            |                  2 | On Loan: No      |
| Lloyds Banking Group PLC                       | Lloyds Banking Group PLC                       | CUSIP: 000000000<br>LEI: 549300PPXHEU2JF0AM85 | Long             | EC               | CORP              | GB        |   1623164 | NS      | $2423715.13   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Smith & Nephew PLC                             | Smith & Nephew PLC                             | CUSIP: 000000000<br>LEI: 213800ZTMDN8S67S1H61 | Long             | EC               | CORP              | GB        |    374674 | NS      | $6385666.54   | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| AstraZeneca PLC                                | AstraZeneca PLC                                | CUSIP: 000000000<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |    173979 | NS      | $32414744.49  | 1.80%             |  |  |  | No            |                  2 | On Loan: No      |
| Canadian National Railway Co                   | Canadian National Railway Co                   | CUSIP: 136375102<br>LEI: 3SU7BEP7TH9YEQOZCS77 | Long             | EC               | CORP              | CA        |     50642 | NS      | $4872773.24   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Natural Resources Ltd                 | Canadian Natural Resources Ltd                 | CUSIP: 136385101<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | CA        |    193925 | NS      | $7210680.24   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Pacific Kansas City Ltd               | Canadian Pacific Kansas City Ltd               | CUSIP: 13646K108<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    140207 | NS      | $10422988.38  | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Pacific Kansas City Ltd               | Canadian Pacific Kansas City Ltd               | CUSIP: 13646K108<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    145365 | NS      | $10805893.81  | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Carnival Corp                                  | Carnival Corp                                  | CUSIP: 143658300<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | EC               | CORP              | PA        |    424658 | NS      | $12748233.16  | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Coupang Inc                                    | Coupang Inc                                    | CUSIP: 22266T109<br>LEI: 549300XR4L1D80AK4W76 | Long             | EC               | CORP              | US        |    152781 | NS      | $3080064.96   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Barclays PLC                                   | Barclays PLC                                   | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | Long             | EC               | CORP              | GB        |   2748648 | NS      | $18344665.12  | 1.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Ferguson Enterprises Inc                       | Ferguson Enterprises Inc                       | CUSIP: 31488V107<br>LEI: 2138003JYQMRP3SLX189 | Long             | EC               | CORP              | US        |     38426 | NS      | $9701027.96   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Financial Square Government Fund | Goldman Sachs Financial Square Government Fund | CUSIP: 38141W273<br>LEI: 549300BRJMXN4GUWZ402 | Long             | EC               | RF                | US        |  49351031 | NS      | $49351031.12  | 2.75%             |  |  |  | No            |                  1 | On Loan: No      |
| LVMH Moet Hennessy Louis Vuitton SE            | LVMH Moet Hennessy Louis Vuitton SE            | CUSIP: 000000000<br>LEI: IOG4E947OATN0KJYSD45 | Long             | EC               | CORP              | FR        |     22303 | NS      | $14394451.47  | 0.80%             |  |  |  | No            |                  2 | On Loan: No      |
| Intesa Sanpaolo SpA                            | Intesa Sanpaolo SpA                            | CUSIP: 000000000<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | EC               | CORP              | IT        |   1551728 | NS      | $10985276.61  | 0.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Capgemini SE                                   | Capgemini SE                                   | CUSIP: 000000000<br>LEI: 96950077L0TN7BAROX36 | Long             | EC               | CORP              | FR        |    133413 | NS      | $20729451.87  | 1.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Carlsberg AS                                   | Carlsberg AS                                   | CUSIP: 000000000<br>LEI: 5299001O0WJQYB5GYZ19 | Long             | EC               | CORP              | DK        |     63203 | NS      | $8592393.40   | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| ICICI Bank Ltd                                 | ICICI Bank Ltd                                 | CUSIP: 45104G104<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               | CORP              | IN        |    286457 | NS      | $8390325.53   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Intact Financial Corp                          | Intact Financial Corp                          | CUSIP: 45823T106<br>LEI: 5493009LXGE7Y4U9OY43 | Long             | EC               | CORP              | CA        |     21392 | NS      | $3894753.22   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Pernod Ricard SA                               | Pernod Ricard SA                               | CUSIP: 000000000<br>LEI: 52990097YFPX9J0H5D87 | Long             | EC               | CORP              | FR        |     74129 | NS      | $6628366.08   | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Merck KGaA                                     | Merck KGaA                                     | CUSIP: 000000000<br>LEI: 529900OAREIS0MOPTW25 | Long             | EC               | CORP              | DE        |     70109 | NS      | $10445727.25  | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| Schneider Electric SE                          | Schneider Electric SE                          | CUSIP: 000000000<br>LEI: 969500A1YF1XUYYXS284 | Long             | EC               | CORP              | FR        |     60235 | NS      | $17269485.02  | 0.96%             |  |  |  | No            |                  2 | On Loan: No      |
| SAP SE                                         | SAP SE                                         | CUSIP: 000000000<br>LEI: 529900D6BF99LW9R2E68 | Long             | EC               | CORP              | DE        |    165873 | NS      | $33136178.59  | 1.84%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Electronics Co Ltd                     | Samsung Electronics Co Ltd                     | CUSIP: 796050888<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |      5034 | NS      | $13858201.45  | 0.77%             |  |  |  | No            |                  2 | On Loan: No      |
| E.ON SE                                        | E.ON SE                                        | CUSIP: 000000000<br>LEI: Q9MAIUP40P25UFBFG033 | Long             | EC               | CORP              | DE        |    156687 | NS      | $3318046.19   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Beiersdorf AG                                  | Beiersdorf AG                                  | CUSIP: 000000000<br>LEI: L47NHHI0Z9X22DV46U41 | Long             | EC               | CORP              | DE        |     74811 | NS      | $8923407.55   | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| ASM International NV                           | ASM International NV                           | CUSIP: 000000000<br>LEI: 7245001I22ND6ZFHX623 | Long             | EC               | CORP              | NL        |      9130 | NS      | $7667677.13   | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Rheinmetall AG                                 | Rheinmetall AG                                 | CUSIP: 000000000<br>LEI: 5299001OU9CSE29O6S05 | Long             | EC               | CORP              | DE        |      3632 | NS      | $7695649.48   | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Kering SA                                      | Kering SA                                      | CUSIP: 000000000<br>LEI: 549300VGEJKB7SVUZR78 | Long             | EC               | CORP              | FR        |     78427 | NS      | $24483155.96  | 1.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Sanofi SA                                      | Sanofi SA                                      | CUSIP: 000000000<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |    111826 | NS      | $10547835.45  | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                               | Deutsche Bank AG                               | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | EC               | CORP              | DE        |    156593 | NS      | $6179330.15   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Telekom AG                            | Deutsche Telekom AG                            | CUSIP: 000000000<br>LEI: 549300V9QSIG4WX4GJ96 | Long             | EC               | CORP              | DE        |    395019 | NS      | $13256147.71  | 0.74%             |  |  |  | No            |                  2 | On Loan: No      |
| Infineon Technologies AG                       | Infineon Technologies AG                       | CUSIP: 000000000<br>LEI: TSI2PJM6EPETEQ4X1U25 | Long             | EC               | CORP              | DE        |    291818 | NS      | $14264789.88  | 0.79%             |  |  |  | No            |                  2 | On Loan: No      |
| Societe Generale SA                            | Societe Generale SA                            | CUSIP: 000000000<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | EC               | CORP              | FR        |    121686 | NS      | $10663275.40  | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| Zurich Insurance Group AG                      | Zurich Insurance Group AG                      | CUSIP: 000000000<br>LEI: 529900QVNRBND50TXP03 | Long             | EC               | CORP              | CH        |     14361 | NS      | $10216727.92  | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Koninklijke Philips NV                         | Koninklijke Philips NV                         | CUSIP: 000000000<br>LEI: H1FJE8H61JGM1JSGM897 | Long             | EC               | CORP              | NL        |    431367 | NS      | $12387051.82  | 0.69%             |  |  |  | No            |                  2 | On Loan: No      |
| LY Corp                                        | LY Corp                                        | CUSIP: 000000000<br>LEI: 52990078MD2OL792YM35 | Long             | EC               | CORP              | JP        |   2012500 | NS      | $5152845.20   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Fire & Marine Insurance Co Ltd         | Samsung Fire & Marine Insurance Co Ltd         | CUSIP: 000000000<br>LEI: 988400JMBDK47EW0Z936 | Long             | EC               | CORP              | KR        |      9859 | NS      | $3431540.23   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| KT&G Corp                                      | KT&G Corp                                      | CUSIP: 000000000<br>LEI: 988400ZJV6ISYBLQX875 | Long             | EC               | CORP              | KR        |      5020 | NS      | $536736.14    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| DBS Group Holdings Ltd                         | DBS Group Holdings Ltd                         | CUSIP: 000000000<br>LEI: 5493007FKT78NKPM5V55 | Long             | EC               | CORP              | SG        |    188680 | NS      | $8770290.62   | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Kose Holdings Corp                             | Kose Holdings Corp                             | CUSIP: 000000000<br>LEI: 353800NX4GGAVDHHY664 | Long             | EC               | CORP              | JP        |     58200 | NS      | $2076347.80   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| KDDI Corp                                      | KDDI Corp                                      | CUSIP: 000000000<br>LEI: 5299003FU7V4I45FU310 | Long             | EC               | CORP              | JP        |    368700 | NS      | $6225121.94   | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Daikin Industries Ltd                          | Daikin Industries Ltd                          | CUSIP: 000000000<br>LEI: 549300Y7FWSTSHMW5Y57 | Long             | EC               | CORP              | JP        |     62800 | NS      | $7525347.75   | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| FUJIFILM Holdings Corp                         | FUJIFILM Holdings Corp                         | CUSIP: 000000000<br>LEI: 529900UBKMFM0ST6H474 | Long             | EC               | CORP              | JP        |    265500 | NS      | $5303431.45   | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| FANUC Corp                                     | FANUC Corp                                     | CUSIP: 000000000<br>LEI: 529900QTSW745LOKW705 | Long             | EC               | CORP              | JP        |    379100 | NS      | $15222598.78  | 0.85%             |  |  |  | No            |                  2 | On Loan: No      |
| Shinhan Financial Group Co Ltd                 | Shinhan Financial Group Co Ltd                 | CUSIP: 000000000<br>LEI: 988400EB8A6G49E5KO54 | Long             | EC               | CORP              | KR        |     79305 | NS      | $4634879.59   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Hitachi Ltd                                    | Hitachi Ltd                                    | CUSIP: 000000000<br>LEI: 549300T6IPOCDWLKC615 | Long             | EC               | CORP              | JP        |    549500 | NS      | $19067709.49  | 1.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Hoya Corp                                      | Hoya Corp                                      | CUSIP: 000000000<br>LEI: 353800X4VR3BHEUCJB42 | Long             | EC               | CORP              | JP        |     12800 | NS      | $2147274.46   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| SK hynix Inc                                   | SK hynix Inc                                   | CUSIP: 000000000<br>LEI: 988400XAIK6XISWQV045 | Long             | EC               | CORP              | KR        |     14190 | NS      | $8859910.09   | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Financial Group Inc            | Sumitomo Mitsui Financial Group Inc            | CUSIP: 000000000<br>LEI: 35380028MYWPB6AUO129 | Long             | EC               | CORP              | JP        |    481700 | NS      | $16951238.59  | 0.94%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsubishi Electric Corp                       | Mitsubishi Electric Corp                       | CUSIP: 000000000<br>LEI: 549300TRXM9Y6561AX39 | Long             | EC               | CORP              | JP        |    412700 | NS      | $12901782.41  | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsubishi Heavy Industries Ltd                | Mitsubishi Heavy Industries Ltd                | CUSIP: 000000000<br>LEI: 353800TJ98PCAZROVE69 | Long             | EC               | CORP              | JP        |    468830 | NS      | $13804197.95  | 0.77%             |  |  |  | No            |                  2 | On Loan: No      |
| Murata Manufacturing Co Ltd                    | Murata Manufacturing Co Ltd                    | CUSIP: 000000000<br>LEI: 529900QZG6DL8ZRI7140 | Long             | EC               | CORP              | JP        |     32700 | NS      | $664318.47    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Renesas Electronics Corp                       | Renesas Electronics Corp                       | CUSIP: 000000000<br>LEI: 5299000EPC47VJQOFB81 | Long             | EC               | CORP              | JP        |   1416500 | NS      | $23549954.74  | 1.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Nintendo Co Ltd                                | Nintendo Co Ltd                                | CUSIP: 000000000<br>LEI: 353800FEEXU6I9M0ZF27 | Long             | EC               | CORP              | JP        |    141093 | NS      | $8737255.53   | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Denso Corp                                     | Denso Corp                                     | CUSIP: 000000000<br>LEI: 549300RYPA10CQM3QK38 | Long             | EC               | CORP              | JP        |    520000 | NS      | $7214876.15   | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank Mandiri Persero Tbk PT                    | Bank Mandiri Persero Tbk PT                    | CUSIP: 000000000<br>LEI: 549300RSKQN4Z5ZSGH94 | Long             | EC               | CORP              | ID        |   4625100 | NS      | $1330854.50   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Olympus Corp                                   | Olympus Corp                                   | CUSIP: 000000000<br>LEI: 5299000Y52IFDI1I2A21 | Long             | EC               | CORP              | JP        |    453900 | NS      | $5421610.64   | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| SMC Corp                                       | SMC Corp                                       | CUSIP: 000000000<br>LEI: 353800O40V08DOZ70X62 | Long             | EC               | CORP              | JP        |     35100 | NS      | $13645871.29  | 0.76%             |  |  |  | No            |                  2 | On Loan: No      |
| Shin-Etsu Chemical Co Ltd                      | Shin-Etsu Chemical Co Ltd                      | CUSIP: 000000000<br>LEI: 353800PX8Q64N86H5W41 | Long             | EC               | CORP              | JP        |    289800 | NS      | $9529945.19   | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Sony Group Corp                                | Sony Group Corp                                | CUSIP: 000000000<br>LEI: 529900R5WX9N2OI2N910 | Long             | EC               | CORP              | JP        |    452500 | NS      | $9976677.86   | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| Suzuki Motor Corp                              | Suzuki Motor Corp                              | CUSIP: 000000000<br>LEI: 353800D83H0V3ZV1SV24 | Long             | EC               | CORP              | JP        |    446600 | NS      | $6089421.60   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Terumo Corp                                    | Terumo Corp                                    | CUSIP: 000000000<br>LEI: 353800JX1R4582QVK932 | Long             | EC               | CORP              | JP        |    310900 | NS      | $4066960.77   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd      | Taiwan Semiconductor Manufacturing Co Ltd      | CUSIP: 000000000<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |    873135 | NS      | $48280788.48  | 2.69%             |  |  |  | No            |                  2 | On Loan: No      |
| United Overseas Bank Ltd                       | United Overseas Bank Ltd                       | CUSIP: 000000000<br>LEI: IO66REGK3RCBAMA8HR66 | Long             | EC               | CORP              | SG        |    231800 | NS      | $6986251.74   | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Boerse AG                             | Deutsche Boerse AG                             | CUSIP: 000000000<br>LEI: 529900G3SW56SHYNPR95 | Long             | EC               | CORP              | DE        |     75724 | NS      | $19175223.77  | 1.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Novartis AG                                    | Novartis AG                                    | CUSIP: 000000000<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |    123626 | NS      | $18342361.55  | 1.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Roche Holding AG                               | Roche Holding AG                               | CUSIP: 000000000<br>LEI: 549300U41AUUVOAAOB37 | Long             | EC               | CORP              | CH        |     79089 | NS      | $35964897.28  | 2.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Nestle SA                                      | Nestle SA                                      | CUSIP: 000000000<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               | CORP              | CH        |     96292 | NS      | $9188809.81   | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Enel SpA                                       | Enel SpA                                       | CUSIP: 000000000<br>LEI: WOCMU6HCI0OJWNPRZS33 | Long             | EC               | CORP              | IT        |    494806 | NS      | $5466887.44   | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Eni SpA                                        | Eni SpA                                        | CUSIP: 000000000<br>LEI: BUCRF72VH5RBN7X3VL35 | Long             | EC               | CORP              | IT        |    383254 | NS      | $7833369.44   | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Sonova Holding AG                              | Sonova Holding AG                              | CUSIP: 000000000<br>LEI: 5299004A0QNX7FBNHS61 | Long             | EC               | CORP              | CH        |     12519 | NS      | $3426240.86   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Philip Morris International Inc                | Philip Morris International Inc                | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |     99551 | NS      | $17863431.44  | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| EssilorLuxottica SA                            | EssilorLuxottica SA                            | CUSIP: 000000000<br>LEI: 549300M3VH1A3ER1TB49 | Long             | EC               | CORP              | FR        |      1351 | NS      | $412995.08    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                 | BNP Paribas SA                                 | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | EC               | CORP              | FR        |    281884 | NS      | $30480798.46  | 1.70%             |  |  |  | No            |                  2 | On Loan: No      |
| Cie de Saint-Gobain SA                         | Cie de Saint-Gobain SA                         | CUSIP: 000000000<br>LEI: NFONVGN05Z0FMN5PEC35 | Long             | EC               | CORP              | FR        |    237870 | NS      | $23479066.82  | 1.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Heineken NV                                    | Heineken NV                                    | CUSIP: 000000000<br>LEI: 724500K5PTPSST86UQ23 | Long             | EC               | CORP              | NL        |    125735 | NS      | $10379372.81  | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| Ryanair Holdings PLC                           | Ryanair Holdings PLC                           | CUSIP: 783513203<br>LEI: 635400BR2ROC1FVEBQ56 | Long             | EC               | CORP              | IE        |    190058 | NS      | $13418094.80  | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Sea Ltd                                        | Sea Ltd                                        | CUSIP: 81141R100<br>LEI: 529900OM6JLLW44YKI15 | Long             | EC               | CORP              | KY        |    182447 | NS      | $21253251.03  | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Shopify Inc                                    | Shopify Inc                                    | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | CA        |     56995 | NS      | $7479453.85   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Teva Pharmaceutical Industries Ltd             | Teva Pharmaceutical Industries Ltd             | CUSIP: 881624209<br>LEI: 549300BAFGM4RC74ZJ94 | Long             | EC               | CORP              | IL        |    305471 | NS      | $10410451.68  | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Toronto-Dominion Bank/The                      | Toronto-Dominion Bank/The                      | CUSIP: 891160509<br>LEI: PT3QB789TSUIDF371261 | Long             | EC               | CORP              | CA        |     85533 | NS      | $7993926.18   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Waste Connections Inc                          | Waste Connections Inc                          | CUSIP: 94106B101<br>LEI: 549300HDLRTPBQU69P29 | Long             | EC               | CORP              | CA        |     34464 | NS      | $5776166.40   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Cie Financiere Richemont SA                    | Cie Financiere Richemont SA                    | CUSIP: 000000000<br>LEI: 549300YIPGJ6UX2QPS51 | Long             | EC               | CORP              | CH        |     72439 | NS      | $14061100.60  | 0.78%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS Group AG                                   | UBS Group AG                                   | CUSIP: 000000000<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | EC               | CORP              | CH        |    482135 | NS      | $22812399.79  | 1.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Ferrari NV                                     | Ferrari NV                                     | CUSIP: 000000000<br>LEI: 549300RIVY5EX8RCON76 | Long             | EC               | CORP              | NL        |     11327 | NS      | $3778073.24   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Anheuser-Busch InBev SA/NV                     | Anheuser-Busch InBev SA/NV                     | CUSIP: 000000000<br>LEI: 5493008H3828EMEXB082 | Long             | EC               | CORP              | BE        |    136421 | NS      | $9819993.93   | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| ArcelorMittal SA                               | ArcelorMittal SA                               | CUSIP: 000000000<br>LEI: 2EULGUTUI56JI9SAL165 | Long             | EC               | CORP              | LU        |     44762 | NS      | $2430935.44   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| RELX PLC                                       | RELX PLC                                       | CUSIP: 000000000<br>LEI: 549300WSX3VBUFFJOO66 | Long             | EC               | CORP              | GB        |    276857 | NS      | $9888629.18   | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Siemens Energy AG                              | Siemens Energy AG                              | CUSIP: 000000000<br>LEI: 5299005CHJZ14D4FDJ62 | Long             | EC               | CORP              | DE        |    216983 | NS      | $36969567.77  | 2.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Hexagon AB                                     | Hexagon AB                                     | CUSIP: 000000000<br>LEI: 549300WJFW6ILNI4TA80 | Long             | EC               | CORP              | SE        |    615710 | NS      | $6942153.58   | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Electrolux AB                                  | Electrolux AB                                  | CUSIP: 000000000<br>LEI: 549300Y3HHZB1ZGFPJ93 | Long             | EC               | CORP              | SE        |    677276 | NS      | $5470762.56   | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Daimler Truck Holding AG                       | Daimler Truck Holding AG                       | CUSIP: 000000000<br>LEI: 529900PW78JIYOUBSR24 | Long             | EC               | CORP              | DE        |     64536 | NS      | $3124764.29   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Eurobank SA                                    | Eurobank SA                                    | CUSIP: 000000000<br>LEI: 213800KGF4EFNUQKAT69 | Long             | EC               | CORP              | GR        |    597560 | NS      | $2920261.22   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Tata Consultancy Services Ltd                  | Tata Consultancy Services Ltd                  | CUSIP: 000000000<br>LEI: 335800ZJKU9GPQRE2U66 | Long             | EC               | CORP              | IN        |     43643 | NS      | $1484214.13   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Safran SA                                      | Safran SA                                      | CUSIP: 000000000<br>LEI: 969500UIC89GT3UL7L24 | Long             | EC               | CORP              | FR        |     45637 | NS      | $16305696.17  | 0.91%             |  |  |  | No            |                  2 | On Loan: No      |
| LANXESS AG                                     | LANXESS AG                                     | CUSIP: 000000000<br>LEI: 529900PTLRE72EMYIJ77 | Long             | EC               | CORP              | DE        |    270724 | NS      | $5591898.37   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| MTU Aero Engines AG                            | MTU Aero Engines AG                            | CUSIP: 000000000<br>LEI: 529900807L67JY81RD65 | Long             | EC               | CORP              | DE        |     10228 | NS      | $4547111.46   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Kone Oyj                                       | Kone Oyj                                       | CUSIP: 000000000<br>LEI: 2138001CNF45JP5XZK38 | Long             | EC               | CORP              | FI        |    125485 | NS      | $9017963.38   | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Engie SA                                       | Engie SA                                       | CUSIP: 000000000<br>LEI: LAXUQCHT4FH58LRZDY46 | Long             | EC               | CORP              | FR        |    456965 | NS      | $13643332.92  | 0.76%             |  |  |  | No            |                  2 | On Loan: No      |
| Alstom SA                                      | Alstom SA                                      | CUSIP: 000000000<br>LEI: 96950032TUYMW11FB530 | Long             | EC               | CORP              | FR        |    777014 | NS      | $24808795.50  | 1.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Seven & i Holdings Co Ltd                      | Seven & i Holdings Co Ltd                      | CUSIP: 000000000<br>LEI: 52990037G8JRM3TWGY86 | Long             | EC               | CORP              | JP        |    660900 | NS      | $9464482.37   | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| London Stock Exchange Group PLC                | London Stock Exchange Group PLC                | CUSIP: 000000000<br>LEI: 213800QAUUUP6I445N30 | Long             | EC               | CORP              | GB        |     62471 | NS      | $6968144.35   | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Legrand SA                                     | Legrand SA                                     | CUSIP: 000000000<br>LEI: 969500XXRPGD7HCAFA90 | Long             | EC               | CORP              | FR        |     45255 | NS      | $7225314.61   | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| TotalEnergies SE                               | TotalEnergies SE                               | CUSIP: 000000000<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |    142255 | NS      | $10346019.30  | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| Experian PLC                                   | Experian PLC                                   | CUSIP: 000000000<br>LEI: 635400RXXHHYT1JTSZ26 | Long             | EC               | CORP              | JE        |    347862 | NS      | $13175181.33  | 0.73%             |  |  |  | No            |                  2 | On Loan: No      |
| Galp Energia SGPS SA                           | Galp Energia SGPS SA                           | CUSIP: 000000000<br>LEI: 2138003319Y7NM75FG53 | Long             | EC               | CORP              | PT        |    240973 | NS      | $4794791.23   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Smiths Group PLC                               | Smiths Group PLC                               | CUSIP: 000000000<br>LEI: 213800MJL6IPZS3ASA11 | Long             | EC               | CORP              | GB        |     89119 | NS      | $3060508.23   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| 3i Group PLC                                   | 3i Group PLC                                   | CUSIP: 000000000<br>LEI: 35GDVHRBMFE7NWATNM84 | Long             | EC               | CORP              | GB        |    249666 | NS      | $11469436.17  | 0.64%             |  |  |  | No            |                  2 | On Loan: No      |
| Air Liquide SA                                 | Air Liquide SA                                 | CUSIP: 000000000<br>LEI: 969500MMPQVHK671GT54 | Long             | EC               | CORP              | FR        |     90876 | NS      | $17017641.68  | 0.95%             |  |  |  | No            |                  2 | On Loan: No      |
| Reckitt Benckiser Group PLC                    | Reckitt Benckiser Group PLC                    | CUSIP: 000000000<br>LEI: 5493003JFSMOJG48V108 | Long             | EC               | CORP              | GB        |    208552 | NS      | $17384874.31  | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| ZOZO Inc                                       | ZOZO Inc                                       | CUSIP: 000000000<br>LEI: 549300GC7XPQMZA0OW13 | Long             | EC               | CORP              | JP        |    511000 | NS      | $4220580.66   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| RELX PLC                                       | RELX PLC                                       | CUSIP: 000000000<br>LEI: 549300WSX3VBUFFJOO66 | Long             | EC               | CORP              | GB        |    228065 | NS      | $8085364.19   | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| WH Smith PLC                                   | WH Smith PLC                                   | CUSIP: 000000000<br>LEI: 2138001KJNGUJ34G7X91 | Long             | EC               | CORP              | GB        |    484159 | NS      | $4471869.11   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Amadeus IT Group SA                            | Amadeus IT Group SA                            | CUSIP: 000000000<br>LEI: 9598004A3FTY3TEHHN09 | Long             | EC               | CORP              | ES        |    130741 | NS      | $8765744.60   | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| AIA Group Ltd                                  | AIA Group Ltd                                  | CUSIP: 000000000<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | EC               | CORP              | HK        |   1052000 | NS      | $12137421.89  | 0.68%             |  |  |  | No            |                  2 | On Loan: No      |
| Segro PLC                                      | Segro PLC                                      | CUSIP: 000000000<br>LEI: 213800XC35KGM9NFC641 | Long             | EC               |  | GB        |    625721 | NS      | $6519122.42   | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Edenred SE                                     | Edenred SE                                     | CUSIP: 000000000<br>LEI: 9695006LOD5B2D7Y0N70 | Long             | EC               | CORP              | FR        |    147259 | NS      | $3084457.02   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Sompo Holdings Inc                             | Sompo Holdings Inc                             | CUSIP: 000000000<br>LEI: 353800CWW4SRGEYEB512 | Long             | EC               | CORP              | JP        |    533800 | NS      | $18407831.46  | 1.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Rolls-Royce Holdings PLC                       | Rolls-Royce Holdings PLC                       | CUSIP: 000000000<br>LEI: 213800EC7997ZBLZJH69 | Long             | EC               | CORP              | GB        |   3214624 | NS      | $53738787.50  | 2.99%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of Ireland Group PLC                      | Bank of Ireland Group PLC                      | CUSIP: 000000000<br>LEI: 635400C8EK6DRI12LJ39 | Long             | EC               | CORP              | IE        |    207662 | NS      | $4219162.72   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Compass Group PLC                              | Compass Group PLC                              | CUSIP: 000000000<br>LEI: 2138008M6MH9OZ6U2T68 | Long             | EC               | CORP              | GB        |    412173 | NS      | $12359186.26  | 0.69%             |  |  |  | No            |                  2 | On Loan: No      |
| National Grid PLC                              | National Grid PLC                              | CUSIP: 000000000<br>LEI: 8R95QZMKZLJX5Q2XR704 | Long             | EC               | CORP              | GB        |    664837 | NS      | $11295281.39  | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| AIB Group PLC                                  | AIB Group PLC                                  | CUSIP: 000000000<br>LEI: 635400AKJBGNS5WNQL34 | Long             | EC               | CORP              | IE        |    984464 | NS      | $11004467.33  | 0.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Akzo Nobel NV                                  | Akzo Nobel NV                                  | CUSIP: 000000000<br>LEI: 724500XYIJUGXAA5QD70 | Long             | EC               | CORP              | NL        |    133582 | NS      | $9358384.72   | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| HDFC Bank Ltd                                  | HDFC Bank Ltd                                  | CUSIP: 000000000<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |    265220 | NS      | $2681711.13   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Tesco PLC                                      | Tesco PLC                                      | CUSIP: 000000000<br>LEI: 2138002P5RNKC5W2JZ46 | Long             | EC               | CORP              | GB        |   1234453 | NS      | $7183035.51   | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Dassault Systemes SE                           | Dassault Systemes SE                           | CUSIP: 000000000<br>LEI: 96950065LBWY0APQIM86 | Long             | EC               | CORP              | FR        |    101266 | NS      | $2785300.73   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| NatWest Group PLC                              | NatWest Group PLC                              | CUSIP: 000000000<br>LEI: 2138005O9XJIJN4JPN90 | Long             | EC               | CORP              | GB        |   2155149 | NS      | $19643711.87  | 1.09%             |  |  |  | No            |                  2 | On Loan: No      |
| NetEase Inc                                    | NetEase Inc                                    | CUSIP: 000000000<br>LEI: 5299004AF4DSJDB0PA32 | Long             | EC               | CORP              | KY        |    246600 | NS      | $6394354.95   | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Tencent Holdings Ltd                           | Tencent Holdings Ltd                           | CUSIP: 000000000<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | KY        |    373184 | NS      | $28683594.08  | 1.60%             |  |  |  | No            |                  2 | On Loan: No      |
| Wizz Air Holdings Plc                          | Wizz Air Holdings Plc                          | CUSIP: 000000000<br>LEI: 213800COXGZCORLJZA85 | Long             | EC               | CORP              | JE        |     80115 | NS      | $1553859.94   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| GSK PLC                                        | GSK PLC                                        | CUSIP: 000000000<br>LEI: 5493000HZTVUYLO1D793 | Long             | EC               | CORP              | GB        |    110545 | NS      | $2858877.19   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Worldline SA/France                            | Worldline SA/France                            | CUSIP: 000000000<br>LEI: 549300CJMQNCA0U4TS33 | Long             | EC               | CORP              | FR        |    432624 | NS      | $732803.36    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Melrose Industries PLC                         | Melrose Industries PLC                         | CUSIP: 000000000<br>LEI: 213800RGNXXZY2M7TR85 | Long             | EC               | CORP              | GB        |    180835 | NS      | $1554807.55   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Berkeley Group Holdings PLC                    | Berkeley Group Holdings PLC                    | CUSIP: 000000000<br>LEI: 2138009OQSSLVVHQAL78 | Long             | EC               | CORP              | GB        |     80020 | NS      | $4521035.55   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Novo Nordisk A/S                               | Novo Nordisk A/S                               | CUSIP: 000000000<br>LEI: 549300DAQ1CVT6CXN342 | Long             | EC               | CORP              | DK        |    429765 | NS      | $25519111.05  | 1.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Cie Generale des Etablissements Michelin SCA   | Cie Generale des Etablissements Michelin SCA   | CUSIP: 000000000<br>LEI: 549300SOSI58J6VIW052 | Long             | EC               | CORP              | FR        |    123116 | NS      | $4571989.50   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Syensqo SA                                     | Syensqo SA                                     | CUSIP: 000000000<br>LEI: 549300060XNJ90PLNS10 | Long             | EC               | CORP              | BE        |     67336 | NS      | $5667249.72   | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| QIAGEN NV                                      | QIAGEN NV                                      | CUSIP: 000000000<br>LEI: 54930036WK3GMCN17Z57 | Long             | EC               | CORP              | NL        |     92972 | NS      | $4929286.85   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| UniCredit SpA                                  | UniCredit SpA                                  | CUSIP: 000000000<br>LEI: 549300TRUWO2CD2G5692 | Long             | EC               | CORP              | IT        |    124853 | NS      | $10880442.73  | 0.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Adyen NV                                       | Adyen NV                                       | CUSIP: 000000000<br>LEI: 724500973ODKK3IFQ447 | Long             | EC               | CORP              | NL        |      6271 | NS      | $9298913.18   | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| ING Groep NV                                   | ING Groep NV                                   | CUSIP: 000000000<br>LEI: 549300NYKK9MWM7GGW15 | Long             | EC               | CORP              | NL        |    591542 | NS      | $17445103.56  | 0.97%             |  |  |  | No            |                  2 | On Loan: No      |
| Aon PLC                                        | Aon PLC                                        | CUSIP: 000000000<br>LEI: 635400FALWQYX5E6QC64 | Long             | EC               | CORP              | IE        |     17030 | NS      | $5954369.20   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Arch Capital Group Ltd                         | Arch Capital Group Ltd                         | CUSIP: 000000000<br>LEI: 549300AYR4P8AFKDCE43 | Long             | EC               | CORP              | BM        |    110037 | NS      | $10567953.48  | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                                      | Linde PLC                                      | CUSIP: 000000000<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | IE        |     19956 | NS      | $9119293.32   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                                  | Medtronic PLC                                  | CUSIP: 000000000<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |     58151 | NS      | $5987226.96   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| NU Holdings Ltd/Cayman Islands                 | NU Holdings Ltd/Cayman Islands                 | CUSIP: 000000000<br>LEI: 5493002DG1RHWK9W2X27 | Long             | EC               | CORP              | KY        |    592484 | NS      | $10516591.00  | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Seagate Technology Holdings PLC                | Seagate Technology Holdings PLC                | CUSIP: 000000000<br>LEI: 635400RUXIFEZSRU8X70 | Long             | EC               | CORP              | IE        |     36492 | NS      | $14877423.48  | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Smurfit WestRock PLC                           | Smurfit WestRock PLC                           | CUSIP: 000000000<br>LEI: 635400EGSEOPDW2EXS14 | Long             | EC               | CORP              | IE        |    229471 | NS      | $9552877.73   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Spotify Technology SA                          | Spotify Technology SA                          | CUSIP: 000000000<br>LEI: 549300B4X0JHWV0DTD60 | Long             | EC               | CORP              | LU        |     20296 | NS      | $10155103.60  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Check Point Software Technologies Ltd          | Check Point Software Technologies Ltd          | CUSIP: 000000000<br>LEI: 2549003ZVBH73EPNS513 | Long             | EC               | CORP              | IL        |     52769 | NS      | $9472563.19   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Monday.com Ltd                                 | Monday.com Ltd                                 | CUSIP: 000000000<br>LEI: 984500MDAFVD86E3B328 | Long             | EC               | CORP              | IL        |     24254 | NS      | $2783146.50   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                                | ASML Holding NV                                | CUSIP: 000000000<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |     14371 | NS      | $20449933.00  | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-02

**Name of Applicant:** Goldman Sachs Trust II

**Signature:** Allison Fracchiolla

**Name of Signer:** Allison Fracchiolla

**Title:** Vice President