# EDGAR Filing Document

**Accession Number:** 0001479026
**File Stem:** 0001752724-23-012709
**Filing Date:** 2023-1
**Character Count:** 69666
**Document Hash:** b447840256d777ad10578b68c1a3d7e8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-012709.hdr.sgml**: 20230125

**ACCESSION NUMBER**: 0001752724-23-012709

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230125

**DATE AS OF CHANGE**: 20230125

**PERIOD START**: 20230831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Goldman Sachs ETF Trust
- **CENTRAL INDEX KEY:** 0001479026
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23013
- **FILM NUMBER:** 23552152

**BUSINESS ADDRESS:**
- **STREET 1:** 200 WEST STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10282-2198
- **BUSINESS PHONE:** (312) 655-4400

**MAIL ADDRESS:**
- **STREET 1:** 200 WEST STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10282-2198

## Series and Classes Contracts Data

### Goldman Sachs Future Health Care Equity ETF (Series ID: S000072296)

| Class ID   | Class Name                                  | Ticker Symbol   |
|:---|:---|:---|
| C000228400 | Goldman Sachs Future Health Care Equity ETF | GDOC            |

## Nport-Ex

GOLDMAN SACHS FUTURE CONSUMER EQUITY ETF

## Schedule of Investments
*November 30, 2022 (Unaudited)* 

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – 98.7%** | **Common Stocks – 98.7%** | **Common Stocks – 98.7%** |
| **Communication Services – 26.2%** | **Communication Services – 26.2%** | **Communication Services – 26.2%** |
| 43835 | Alphabet, Inc., Class C\* | $4447061 |
| 48778 | Bumble, Inc., Class A\* | 1188232 |
| 28555 | CTS Eventim AG & Co. KGaA (Germany)\* | 1746459 |
| 15205 | Electronic Arts, Inc. | 1988510 |
| 26491 | Live Nation Entertainment, Inc.\* | 1927485 |
| 16360 | Meta Platforms, Inc., Class A\* | 1932116 |
| 100358 | NetEase, Inc. (China) | 1405308 |
| 11891 | Sea Ltd. ADR (Singapore)\* | 694078 |
| 57715 | Snap, Inc., Class A\* | 595041 |
| 35977 | Tencent Holdings Ltd. (China) | 1323758 |
| 18935 | T-Mobile US, Inc.\* | 2867895 |
| 24616 | Walt Disney Co. (The)\* | 2409168 |
|  |  | 22525111 |
| **Consumer Discretionary – 28.0%** | **Consumer Discretionary – 28.0%** | **Consumer Discretionary – 28.0%** |
| 53417 | Amazon.com, Inc.\* | 5156877 |
| 14164 | Basic-Fit NV (Netherlands)\*<sup>(a)(b)</sup> | 373933 |
| 9203 | Etsy, Inc.\* | 1215624 |
| 94128 | Farfetch Ltd., Class A (United Kingdom)\* | 800088 |
| 6116 | LVMH Moet Hennessy Louis Vuitton SE (France) | 4643030 |
| 81296 | Meituan, Class B (China)\*<sup>(b)</sup> | 1703930 |
| 2329 | MercadoLibre, Inc. (Brazil)\* | 2168264 |
| 52584 | Moncler SpA (Italy) | 2655721 |
| 26017 | NIKE, Inc., Class B | 2853805 |
| 5359 | Ulta Beauty, Inc.\* | 2491077 |
|  |  | 24062349 |
| **Consumer Staples – 5.8%** | **Consumer Staples – 5.8%** | **Consumer Staples – 5.8%** |
| 533148 | Budweiser Brewing Co. APAC Ltd. (China)<sup>(b)</sup> | 1530013 |
| 221109 | Davide Campari-Milano NV (Italy) | 2282341 |
| 48440 | Proya Cosmetics Co. Ltd., Class A (China) | 1159652 |
|  |  | 4972006 |
| **Health Care – 2.8%** | **Health Care – 2.8%** | **Health Care – 2.8%** |
| 15394 | Guardant Health, Inc.\* | 805722 |
| 7404 | Illumina, Inc.\* | 1614664 |
|  |  | 2420386 |
| **Industrials – 2.7%** | **Industrials – 2.7%** | **Industrials – 2.7%** |
| 66842 | Experian PLC (United Kingdom) | 2312442 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **Information Technology – 17.6%** | **Information Technology – 17.6%** | **Information Technology – 17.6%** |
| 909 | Adyen NV (Netherlands)\*<sup>(b)</sup> | $1370047 |
| 427940 | Locaweb Servicos de Internet SA (Brazil)\*<sup>(b)</sup> | 683558 |
| 12990 | Mastercard, Inc., Class A | 4629636 |
| 94677 | MediaTek, Inc. (Taiwan) | 2245498 |
| 17080 | NVIDIA Corp. | 2890448 |
| 208289 | Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) | 3302377 |
|  |  | 15121564 |
| **Materials – 4.4%** | **Materials – 4.4%** | **Materials – 4.4%** |
| 37587 | Ball Corp. | 2107879 |
| 13368 | Koninklijke DSM NV (Netherlands) | 1683382 |
|  |  | 3791261 |
| **Real Estate – 3.9%** | **Real Estate – 3.9%** | **Real Estate – 3.9%** |
| 15394 | American Tower Corp. REIT | 3405923 |
| **Utilities – 7.3%** | **Utilities – 7.3%** | **Utilities – 7.3%** |
| 108273 | EDP Renovaveis SA (Spain) | 2458208 |
| 45180 | NextEra Energy, Inc. | 3826746 |
|  |  | 6284954 |
| **TOTAL COMMON STOCKS**<br> **(Cost $104,370,538)** | **TOTAL COMMON STOCKS**<br> **(Cost $104,370,538)** | $84895996 |
| **TOTAL INVESTMENTS BEFORE SECURITIES LENDING<br>REINVESTMENT VEHICLE**<br> **(Cost $104,370,538)** | **TOTAL INVESTMENTS BEFORE SECURITIES LENDING<br>REINVESTMENT VEHICLE**<br> **(Cost $104,370,538)** | $84895996 |
| **Shares** | **Dividend<br>Rate** | **Value** |
| **Securities Lending Reinvestment Vehicle – 0.4%<sup>(c)</sup>** | **Securities Lending Reinvestment Vehicle – 0.4%<sup>(c)</sup>** | **Securities Lending Reinvestment Vehicle – 0.4%<sup>(c)</sup>** |
| 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 |
| 359352 | 3.727% | $359352 |
| **(Cost $359,352)** | **(Cost $359,352)** |  |
| **TOTAL INVESTMENTS – 99.1%** | **TOTAL INVESTMENTS – 99.1%** |  |
| **(Cost $104,729,890)** | **(Cost $104,729,890)** | $85255348 |
| **OTHER ASSETS IN EXCESS OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**LIABILITIES – 0.9%** | **OTHER ASSETS IN EXCESS OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**LIABILITIES – 0.9%** | 796464 |
| **NET ASSETS – 100.0%** | **NET ASSETS – 100.0%** | $86051812 |

---

------

GOLDMAN SACHS FUTURE CONSUMER EQUITY ETF

## Schedule of Investments (continued)
*November 30, 2022 (Unaudited)* 

---

| | |
|:---|:---|
| 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) | All or a portion of security is on loan. |
| (b) | Exempt from registration under Rule 144A of the Securities Act of 1933. |
| (c) | Represents an affiliated issuer. |

---

---

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

---

------

GOLDMAN SACHS FUTURE HEALTH CARE EQUITY ETF

## Schedule of Investments
*November 30, 2022 (Unaudited)* 

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – 98.9%** | **Common Stocks – 98.9%** | **Common Stocks – 98.9%** |
| **Denmark – 2.6%** | **Denmark – 2.6%** | **Denmark – 2.6%** |
| 61707 | Genmab A/S ADR (Health Care)\* | $2871227 |
| **France – 0.7%** | **France – 0.7%** | **France – 0.7%** |
| 2387 | Sartorius Stedim Biotech (Health Care) | 794599 |
| **Italy – 0.4%** | **Italy – 0.4%** | **Italy – 0.4%** |
| 25914 | Stevanato Group SpA (Health Care) | 396743 |
| **Japan – 5.4%** | **Japan – 5.4%** | **Japan – 5.4%** |
| 98224 | Chugai Pharmaceutical Co. Ltd. (Health Care) | 2550980 |
| 18710 | Hoya Corp. (Health Care) | 1885213 |
| 70742 | Kyowa Kirin Co. Ltd. (Health Care) | 1609616 |
|  |  | 6045809 |
| **Netherlands – 1.9%** | **Netherlands – 1.9%** | **Netherlands – 1.9%** |
| 5199 | Argenx SE ADR (Health Care)\* | 2069046 |
| **Switzerland – 0.7%** | **Switzerland – 0.7%** | **Switzerland – 0.7%** |
| 1540 | Lonza Group AG (Health Care) | 792347 |
| **United Kingdom – 4.8%** | **United Kingdom – 4.8%** | **United Kingdom – 4.8%** |
| 37888 | AstraZeneca PLC (Health Care) | 5038191 |
| 96171 | Oxford Nanopore Technologies PLC (Health Care)\* | 293197 |
|  |  | 5331388 |
| **United States – 82.4%** | **United States – 82.4%** | **United States – 82.4%** |
| 42472 | 2seventy bio, Inc. (Health Care)\* | 665536 |
| 36298 | Agios Pharmaceuticals, Inc. (Health Care)\* | 1094022 |
| 14781 | Alexandria Real Estate Equities, Inc. REIT (Real Estate) | 2300071 |
| 4023 | Align Technology, Inc. (Health Care)\* | 791163 |
| 46993 | Allogene Therapeutics, Inc. (Health Care)\* | 463351 |
| 5894 | Alnylam Pharmaceuticals, Inc. (Health Care)\* | 1300157 |
| 14734 | Axonics, Inc. (Health Care)\* | 1008984 |
| 14968 | Beam Therapeutics, Inc. (Health Care)\* | 691372 |
| 12600 | Biogen, Inc. (Health Care)\* | 3845142 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **United States – (continued)** | **United States – (continued)** | **United States – (continued)** |
| 6846 | BioMarin Pharmaceutical, Inc. (Health Care)\* | $691309 |
| 101691 | Boston Scientific Corp. (Health Care)\* | 4603552 |
| 38871 | Bristol-Myers Squibb Co. (Health Care) | 3120564 |
| 20790 | Catalent, Inc. (Health Care)\* | 1042203 |
| 6408 | Cooper Cos., Inc. (The) (Health Care) | 2027171 |
| 17408 | CSL Ltd. (Health Care) | 3498725 |
| 6417 | Cytokinetics, Inc. (Health Care)\* | 272722 |
| 6549 | Danaher Corp. (Health Care) | 1790562 |
| 30779 | Dexcom, Inc. (Health Care)\* | 3578982 |
| 40040 | Edwards Lifesciences Corp. (Health Care)\* | 3093090 |
| 17014 | Eli Lilly & Co. (Health Care) | 6313555 |
| 43314 | Exelixis, Inc. (Health Care)\* | 739803 |
| 56191 | Gilead Sciences, Inc. (Health Care) | 4935256 |
| 14734 | Guardant Health, Inc. (Health Care)\* | 771178 |
| 69041 | Halozyme Therapeutics, Inc. (Health Care)\* | 3953288 |
| 3179 | IDEXX Laboratories, Inc. (Health Care)\* | 1353841 |
| 13433 | Illumina, Inc. (Health Care)\* | 2929469 |
| 9916 | Inari Medical, Inc. (Health Care)\* | 729619 |
| 13705 | Insulet Corp. (Health Care)\* | 4102866 |
| 17915 | Intuitive Surgical, Inc. (Health Care)\* | 4844037 |
| 3649 | iRhythm Technologies, Inc. (Health Care)\* | 397923 |
| 49348 | MaxCyte, Inc. (Health Care)\* | 295595 |
| 2292 | Mettler-Toledo International, Inc. (Health Care)\* | 3368232 |
| 38690 | Neurocrine Biosciences, Inc. (Health Care)\* | 4915951 |
| 12910 | Novanta, Inc. (Information Technology)\* | 2036552 |
| 7309 | QIAGEN NV (Health Care)\* | 362088 |
| 8010 | Sage Therapeutics, Inc. (Health Care)\* | 328730 |
| 11273 | Sarepta Therapeutics, Inc. (Health Care)\* | 1384437 |
| 21815 | Seagen, Inc. (Health Care)\* | 2648123 |
| 5192 | Shockwave Medical, Inc. (Health Care)\* | 1316691 |
| 14407 | Ultragenyx Pharmaceutical, Inc. (Health Care)\* | 522974 |
| 17260 | Veeva Systems, Inc., Class A (Health Care)\* | 3285614 |
| 9849 | West Pharmaceutical Services, Inc. (Health Care) | 2311166 |

---

------

GOLDMAN SACHS FUTURE HEALTH CARE EQUITY ETF

## Schedule of Investments (continued)
*November 30, 2022 (Unaudited)* 

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **United States – (continued)** | **United States – (continued)** | **United States – (continued)** |
| 14182 | Zimmer Biomet Holdings, Inc. (Health Care) | $1703258 |
|  |  | 91428924 |
| **TOTAL INVESTMENTS – 98.9%** | **TOTAL INVESTMENTS – 98.9%** |  |
| **(Cost $112,884,688)** | **(Cost $112,884,688)** | $109730083 |
| **OTHER ASSETS IN EXCESS OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**LIABILITIES – 1.1%** | **OTHER ASSETS IN EXCESS OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**LIABILITIES – 1.1%** | 1241845 |
| **NET ASSETS – 100.0%** | **NET ASSETS – 100.0%** | $110971928 |

---

---

| | |
|:---|:---|
| 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. |

---

---

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

---

------

GOLDMAN SACHS FUTURE HEALTH CARE EQUITY ETF

*November 30, 2022 (Unaudited)* 

------

**ADDITIONAL INVESTMENT INFORMATION** 

------

---

| | |
|:---|:---|
| **Sector Name** | **% of Market<br>Value** |
| Health Care | 96.0% |
| Real Estate | 2.1 |
| Information Technology | 1.9 |
| **TOTAL INVESTMENTS** | 100.0% |

---

------

GOLDMAN SACHS FUTURE PLANET EQUITY ETF

## Schedule of Investments
*November 30, 2022 (Unaudited)* 

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – 98.9%** | **Common Stocks – 98.9%** | **Common Stocks – 98.9%** |
| **Australia – 0.1%** | **Australia – 0.1%** | **Australia – 0.1%** |
| 719977 | Carbon Revolution Ltd. (Consumer Discretionary)\*<sup>(a)</sup> | $91612 |
| **Belgium – 1.4%** | **Belgium – 1.4%** | **Belgium – 1.4%** |
| 64562 | Umicore SA (Materials) | 2273489 |
| **China – 3.1%** | **China – 3.1%** | **China – 3.1%** |
| 51064 | Contemporary Amperex Technology Co. Ltd., Class A (Industrials) | 2775394 |
| 2100939 | Xinyi Solar Holdings Ltd. (Information Technology) | 2425144 |
|  |  | 5200538 |
| **Denmark – 5.8%** | **Denmark – 5.8%** | **Denmark – 5.8%** |
| 62632 | Chr Hansen Holding A/S (Materials) | 3785474 |
| 58993 | Novozymes A/S, Class B (Materials) | 3351569 |
| 29185 | Orsted AS (Utilities)<sup>(b)</sup> | 2506928 |
|  |  | 9643971 |
| **Finland – 3.5%** | **Finland – 3.5%** | **Finland – 3.5%** |
| 113881 | Neste OYJ (Energy) | 5785490 |
| **France – 1.1%** | **France – 1.1%** | **France – 1.1%** |
| 46813 | Imerys SA (Materials) | 1815250 |
| **Germany – 3.0%** | **Germany – 3.0%** | **Germany – 3.0%** |
| 156944 | Infineon Technologies AG (Information Technology) | 5093551 |
| **Ireland – 1.0%** | **Ireland – 1.0%** | **Ireland – 1.0%** |
| 29639 | Kingspan Group PLC (Industrials) | 1630872 |
| **Italy – 3.4%** | **Italy – 3.4%** | **Italy – 3.4%** |
| 1083180 | Enel SpA (Utilities) | 5725933 |
| **Japan – 10.1%** | **Japan – 10.1%** | **Japan – 10.1%** |
| 28392 | Daikin Industries Ltd. (Industrials) | 4558713 |
| 59628 | Horiba Ltd. (Information Technology) | 2666466 |
| 8519 | Keyence Corp. (Information Technology) | 3488431 |
| 85170 | Kurita Water Industries Ltd. (Industrials) | 3723212 |
| 39750 | Nidec Corp. (Industrials) | 2431034 |
|  |  | 16867856 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **Netherlands – 5.3%** | **Netherlands – 5.3%** | **Netherlands – 5.3%** |
| 95625 | Aalberts NV (Industrials) | $3702108 |
| 41453 | Koninklijke DSM NV (Materials) | 5220020 |
| 13237 | Pryme NV (Industrials)\*<sup>(b)</sup> | 8470 |
|  |  | 8930598 |
| **Norway – 0.8%** | **Norway – 0.8%** | **Norway – 0.8%** |
| 1136523 | Aker Carbon Capture ASA (Industrials)\* | 1245814 |
| 169096 | Circa Group AS (Materials)\*<sup>(a)</sup> | 108365 |
|  |  | 1354179 |
| **Spain – 4.0%** | **Spain – 4.0%** | **Spain – 4.0%** |
| 601303 | Iberdrola SA (Utilities) | 6674241 |
| **Sweden – 0.2%** | **Sweden – 0.2%** | **Sweden – 0.2%** |
| 71653 | Re:NewCell AB, Class A (Materials)\*<sup>(a)</sup> | 412563 |
| **Switzerland – 4.4%** | **Switzerland – 4.4%** | **Switzerland – 4.4%** |
| 115671 | ABB Ltd. (Industrials) | 3564524 |
| 15277 | Sika AG (Materials) | 3800209 |
|  |  | 7364733 |
| **Taiwan – 2.3%** | **Taiwan – 2.3%** | **Taiwan – 2.3%** |
| 397472 | Delta Electronics, Inc. (Information Technology) | 3883987 |
| **United Kingdom – 2.1%** | **United Kingdom – 2.1%** | **United Kingdom – 2.1%** |
| 987303 | DS Smith PLC (Materials) | 3566138 |
| **United States – 47.3%** | **United States – 47.3%** | **United States – 47.3%** |
| 11102 | Albemarle Corp. (Materials) | 3086245 |
| 38748 | Aptiv PLC (Consumer Discretionary)\* | 4133249 |
| 88890 | Ball Corp. (Materials) | 4984951 |
| 110069 | Bloom Energy Corp., Class A (Industrials)\* | 2343369 |
| 23003 | Danaher Corp. (Health Care) | 6289250 |
| 61547 | Danimer Scientific, Inc. (Materials)\*<sup>(a)</sup> | 163715 |
| 31943 | Darling Ingredients, Inc. (Consumer Staples)\* | 2294466 |
| 33693 | DocuSign, Inc. (Information Technology)\* | 1585930 |
| 37906 | Ecolab, Inc. (Materials) | 5679456 |
| 80740 | Energy Recovery, Inc. (Industrials)\* | 1871553 |
| 45506 | Itron, Inc. (Information Technology)\* | 2420009 |
| 77880 | NextEra Energy, Inc. (Utilities) | 6596436 |

---

------

GOLDMAN SACHS FUTURE PLANET EQUITY ETF

## Schedule of Investments (continued)
*November 30, 2022 (Unaudited)* 

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **United States – (continued)** | **United States – (continued)** | **United States – (continued)** |
| 124546 | Nuvve Holding Corp. (Industrials)\* | $77219 |
| 440055 | Oatly Group AB ADR (Consumer Staples)\*<sup>(a)</sup> | 717290 |
| 40678 | Schneider Electric SE (Industrials) | 5818541 |
| 133923 | Shoals Technologies Group, Inc., Class A (Industrials)\* | 3879749 |
| 210289 | Smart Wires Technology Ltd. SDR (Industrials)\* | 6409 |
| 11755 | SolarEdge Technologies, Inc. (Information Technology)\* | 3513099 |
| 90305 | Tattooed Chef, Inc. (Consumer<br>Staples)\*<sup>(a)</sup> | 136361 |
| 22596 | Trane Technologies PLC (Industrials) | 4031578 |
| 23231 | Waste Connections, Inc. (Industrials) | 3356880 |
| 19814 | Waste Management, Inc. (Industrials) | 3323204 |
| 132984 | Westrock Co. (Materials) | 5042753 |
| 28760 | Wolfspeed, Inc. (Information Technology)\* | 2614859 |
| 44863 | Xylem, Inc. (Industrials) | 5040358 |
|  |  | 79006929 |
| **TOTAL INVESTMENTS BEFORE SECURITIES LENDING<br>REINVESTMENT VEHICLE** | **TOTAL INVESTMENTS BEFORE SECURITIES LENDING<br>REINVESTMENT VEHICLE** |  |
| **(Cost $201,333,210)** | **(Cost $201,333,210)** | $165321930 |
| **Shares** | **Dividend**<br> **Rate** | **Value** |
| **Securities Lending Reinvestment Vehicle – 0.4%<sup>(c)</sup>** | **Securities Lending Reinvestment Vehicle – 0.4%<sup>(c)</sup>** | **Securities Lending Reinvestment Vehicle – 0.4%<sup>(c)</sup>** |
| 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 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710823 | 3.727% | $710823 |
| **(Cost $710,823)** | **(Cost $710,823)** |  |
| **TOTAL INVESTMENTS – 99.3%** | **TOTAL INVESTMENTS – 99.3%** |  |
| **(Cost $202,044,033)** | **(Cost $202,044,033)** | $166032753 |
| **OTHER ASSETS IN EXCESS OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**LIABILITIES – 0.7%** | **OTHER ASSETS IN EXCESS OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**LIABILITIES – 0.7%** | 1103635 |
| **NET ASSETS – 100.0%** | **NET ASSETS – 100.0%** | $167136388 |

---

---

| | |
|:---|:---|
| 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) | All or a portion of security is on loan. |
| (b) | Exempt from registration under Rule 144A of the Securities Act of 1933. |
| (c) | Represents an affiliated issuer. |

---

---

| | |
|:---|:---|
| **Investment Abbreviations:** | **Investment Abbreviations:** |
| ADR | — American Depositary Receipt |
| PLC | — Public Limited Company |
| SDR | — Swedish Depositary Receipt |

---

------

GOLDMAN SACHS FUTURE PLANET EQUITY ETF

*November 30, 2022 (Unaudited)* 

------

**ADDITIONAL INVESTMENT INFORMATION** 

------

---

| | |
|:---|:---|
| **Sector Name** | **% of Market<br>Value** |
| Industrials | 32.2% |
| Materials | 26.1 |
| Information Technology | 16.7 |
| Utilities | 12.9 |
| Health Care | 3.8 |
| Energy | 3.5 |
| Consumer Discretionary | 2.5 |
| Consumer Staples | 1.9 |
| Securities Lending Reinvestment Vehicle | 0.4 |
| **TOTAL INVESTMENTS** | 100.0% |

---

------

GOLDMAN SACHS FUTURE REAL ESTATE AND INFRASTRUCTURE EQUITY ETF

## Schedule of Investments
*November 30, 2022 (Unaudited)* 

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – 98.3%** | **Common Stocks – 98.3%** | **Common Stocks – 98.3%** |
| **Communication Services – 2.4%** | **Communication Services – 2.4%** | **Communication Services – 2.4%** |
| 16793 | Cellnex Telecom SA (Spain)\*<sup>(a)</sup> | $563684 |
| **Energy – 1.6%** | **Energy – 1.6%** |  |
| 2131 | Cheniere Energy, Inc. | 373692 |
| **Health Care – 0.9%** | **Health Care – 0.9%** |  |
| 33422 | Chartwell Retirement Residences (Canada) | 205112 |
| **Industrials – 12.6%** | **Industrials – 12.6%** |  |
| 99149 | Enav SpA (Italy)<sup>(a)</sup> | 432040 |
| 14188 | Ferrovial SA (Spain) | 373982 |
| 1575 | Norfolk Southern Corp. | 403988 |
| 92005 | Transurban Group (Australia) | 880489 |
| 8350 | Vinci SA (France) | 830698 |
|  |  | 2921197 |
| **Materials – 3.3%** | **Materials – 3.3%** |  |
| 1286 | Linde PLC (United Kingdom) | 432713 |
| 911 | Martin Marietta Materials, Inc. | 333864 |
|  |  | 766577 |
| **Real Estate – 52.0%** | **Real Estate – 52.0%** |  |
| 4061 | Alexandria Real Estate Equities, Inc. REIT | 631932 |
| 4175 | American Tower Corp. REIT | 923719 |
| 8602 | Americold Realty Trust, Inc. REIT | 256770 |
| 2649 | AvalonBay Communities, Inc. REIT | 463310 |
| 29685 | Big Yellow Group PLC REIT (United Kingdom) | 385335 |
| 16859 | CTP NV (Netherlands)<sup>(a)</sup> | 181921 |
| 7683 | Digital Realty Trust, Inc. REIT | 864030 |
| 1016 | Equinix, Inc. REIT | 701701 |
| 9114 | Equity LifeStyle Properties, Inc. REIT | 605352 |
| 6036 | Equity Residential REIT | 391495 |
| 22652 | Goodman Group REIT (Australia) | 290051 |
| 114430 | Ingenia Communities Group REIT (Australia) | 331058 |
| 16651 | Invitation Homes, Inc. REIT | 543322 |
| 179 | Nippon Prologis REIT, Inc. REIT (Japan) | 432940 |
| 11506 | Prologis, Inc. REIT | 1355292 |
| 1892 | Public Storage REIT | 563740 |
| 1587 | SBA Communications Corp. REIT | 474989 |
| 41931 | Segro PLC REIT (United Kingdom) | 394891 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** |  |
| **Real Estate – (continued)** | **Real Estate – (continued)** |  |
| 17995 | Summit Industrial Income REIT (Canada) | $299319 |
| 4906 | Terreno Realty Corp. REIT | 287688 |
| 35761 | UNITE Group PLC (The) REIT (United Kingdom) | 392872 |
| 8350 | Ventas, Inc. REIT | 388526 |
| 18145 | Vonovia SE (Germany) | 438864 |
| 6551 | Welltower, Inc. REIT | 465318 |
|  |  | 12064435 |
| **Utilities – 25.5%** | **Utilities – 25.5%** |  |
| 9964 | AES Corp. (The) | 288159 |
| 2782 | American Water Works Co., Inc. | 422196 |
| 8208 | CMS Energy Corp. | 501262 |
| 43675 | Enel SpA (Italy) | 230876 |
| 15405 | Engie SA (France) | 230313 |
| 5696 | Eversource Energy | 471971 |
| 89033 | National Grid PLC (United Kingdom) | 1075668 |
| 13011 | NextEra Energy, Inc. | 1102032 |
| 2375 | Orsted AS (Denmark)<sup>(a)</sup> | 204007 |
| 15764 | Veolia Environnement SA (France) | 398968 |
| 5009 | WEC Energy Group, Inc. | 496592 |
| 7086 | Xcel Energy, Inc. | 497579 |
|  |  | 5919623 |
| **TOTAL INVESTMENTS – 98.3%** | **TOTAL INVESTMENTS – 98.3%** |  |
| **(Cost $25,721,970)** | **(Cost $25,721,970)** | $22814320 |
| **OTHER ASSETS IN EXCESS OF<br> LIABILITIES – 1.7%** | **OTHER ASSETS IN EXCESS OF<br> LIABILITIES – 1.7%** | 401571 |
| **NET ASSETS – 100.0%** | **NET ASSETS – 100.0%** | $23215891 |

---

---

| | |
|:---|:---|
| 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. |

---

---

| | |
|:---|:---|
| **Investment Abbreviations:** | **Investment Abbreviations:** |
| PLC | — Public Limited Company |
| REIT | — Real Estate Investment Trust |

---

------

GOLDMAN SACHS FUTURE REAL ESTATE AND INFRASTRUCTURE EQUITY ETF

## Schedule of Investments (continued)
*November 30, 2022 (Unaudited)* 

------

**ADDITIONAL INVESTMENT INFORMATION** 

------

---

| | |
|:---|:---|
| **Sector Name** | **% of Market<br>Value** |
| Real Estate | 52.9% |
| Utilities | 25.9 |
| Industrials | 12.8 |
| Materials | 3.4 |
| Communication Services | 2.5 |
| Energy | 1.6 |
| Health Care | 0.9 |
| **TOTAL INVESTMENTS** | 100.0% |

---

------

GOLDMAN SACHS FUTURE TECH LEADERS EQUITY ETF

## Schedule of Investments
*November 30, 2022 (Unaudited)* 

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – 98.6%** | **Common Stocks – 98.6%** | **Common Stocks – 98.6%** |
| **Communication Services – 10.8%** | **Communication Services – 10.8%** | **Communication Services – 10.8%** |
| 109743 | Cellnex Telecom SA (Spain)\*<sup>(a)</sup> | $3683700 |
| 29860 | Electronic Arts, Inc. | 3905091 |
| 337427 | Kuaishou Technology (China)\*<sup>(a)</sup> | 2444622 |
| 39116 | Match Group, Inc.\* | 1977705 |
| 282264 | NetEase, Inc. (China) | 3952528 |
| 37898 | Sea Ltd. ADR (Singapore)\* | 2212106 |
| 328107 | Snap, Inc., Class A\* | 3382783 |
| 48003 | Trade Desk, Inc. (The), Class A\* | 2502876 |
| 71449 | Yandex NV, Class A (Russia)\*<sup>(b)</sup> |  |
|  |  | 24061411 |
| **Consumer Discretionary – 4.9%** | **Consumer Discretionary – 4.9%** | **Consumer Discretionary – 4.9%** |
| 44990 | Etsy, Inc.\* | 5942729 |
| 5301 | MercadoLibre, Inc. (Brazil)\* | 4935152 |
|  |  | 10877881 |
| **Health Care – 2.0%** | **Health Care – 2.0%** | **Health Care – 2.0%** |
| 44417 | Hoya Corp. (Japan) | 4475441 |
| **Industrials – 1.9%** | **Industrials – 1.9%** | **Industrials – 1.9%** |
| 66268 | Nidec Corp. (Japan) | 4052824 |
| **Information Technology – 76.6%** | **Information Technology – 76.6%** | **Information Technology – 76.6%** |
| 3120 | Adyen NV (Netherlands)\*<sup>(a)</sup> | 4702471 |
| 107554 | AppLovin Corp., Class A\* | 1549853 |
| 19382 | Aspen Technology, Inc.\* | 4467551 |
| 23075 | Atlassian Corp., Class A\* | 3035516 |
| 35201 | Bill.com Holdings, Inc.\* | 4238904 |
| 41172 | Cadence Design Systems, Inc.\* | 7083231 |
| 53870 | Datadog, Inc., Class A\* | 4082269 |
| 465664 | Delta Electronics, Inc. (Taiwan) | 4550340 |
| 118411 | Dynatrace, Inc.\* | 4588426 |
| 63807 | Entegris, Inc. | 4931643 |
| 61006 | Fidelity National Information Services, Inc. | 4427816 |
| 76297 | Hamamatsu Photonics KK (Japan) | 3914910 |
| 19898 | HubSpot, Inc.\* | 6029691 |
| 151054 | Infineon Technologies AG (Germany) | 4902394 |
| 12566 | Jack Henry & Associates, Inc. | 2379372 |
| 13866 | Keysight Technologies, Inc.\* | 2508221 |
| 3127111 | Kingdee International Software Group Co. Ltd. (China)\* | 5160104 |
| 18691 | KLA Corp. | 7348367 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **Information Technology – (continued)** | **Information Technology – (continued)** | **Information Technology – (continued)** |
| 411247 | Luxshare Precision Industry Co. Ltd., Class A (China) | $1794530 |
| 121316 | Marvell Technology, Inc. | 5643620 |
| 200594 | MediaTek, Inc. (Taiwan) | 4757580 |
| 39137 | MKS Instruments, Inc. | 3282029 |
| 24236 | Motorola Solutions, Inc. | 6597039 |
| 52076 | ON Semiconductor Corp.\* | 3916115 |
| 43027 | Palo Alto Networks, Inc.\* | 7310287 |
| 47784 | Procore Technologies, Inc.\* | 2339982 |
| 292494 | Qualtrics International, Inc., Class A\* | 3000988 |
| 66629 | RingCentral, Inc., Class A\* | 2469271 |
| 209564 | Sangfor Technologies, Inc., Class A (China) | 3320280 |
| 8274 | ServiceNow, Inc.\* | 3444466 |
| 271868 | Silergy Corp. (China) | 3958538 |
| 27295 | Snowflake, Inc., Class A\* | 3900456 |
| 8597 | Tokyo Electron Ltd. (Japan) | 2777976 |
| 185675 | UiPath, Inc., Class A\* | 2315367 |
| 508648 | Unimicron Technology Corp. (Taiwan) | 2559246 |
| 4022619 | United Microelectronics Corp. (Taiwan)\* | 5961267 |
| 1053117 | Vanguard International Semiconductor Corp. (Taiwan) | 2804405 |
| 1198221 | Venustech Group, Inc., Class A (China) | 4562122 |
| 379896 | Viavi Solutions, Inc.\* | 4304222 |
| 20726 | Wolfspeed, Inc.\* | 1884408 |
| 22989 | Workday, Inc., Class A\* | 3859853 |
| 28474 | Zscaler, Inc.\* | 3799855 |
|  |  | 170464981 |
| **Real Estate – 2.4%** | **Real Estate – 2.4%** | **Real Estate – 2.4%** |
| 17964 | SBA Communications Corp. REIT | 5376625 |
| **TOTAL INVESTMENTS – 98.6%** | **TOTAL INVESTMENTS – 98.6%** |  |
| **(Cost $312,587,288)** | **(Cost $312,587,288)** | $219309163 |
| **OTHER ASSETS IN EXCESS OF<br> LIABILITIES – 1.4%** | **OTHER ASSETS IN EXCESS OF<br> LIABILITIES – 1.4%** | 3220036 |
| **NET ASSETS – 100.0%** | **NET ASSETS – 100.0%** | $222529199 |

---

---

| | |
|:---|:---|
| 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. |
| (b) | Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3. |

---

---

| | |
|:---|:---|
| **Investment Abbreviations:** | **Investment Abbreviations:** |
| ADR | — American Depositary Receipt |
| REIT | — Real Estate Investment Trust |

---

------

GOLDMAN SACHS FUTURE ETFS

## Schedule of Investments (continued)
*November 30, 2022 (Unaudited)* 

------

**NOTES TO THE SCHEDULE OF INVESTMENTS** 

------

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

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

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

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

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

The Board of Trustees ("Trustees") has approved Valuation Procedures that govern the valuation of the portfolio investments held by the Funds, including investments for which market quotations are not readily available. With respect to the Funds' investments that do not have readily available market quotations, the Trustees have designated the Adviser as the valuation designee to perform fair valuations pursuant to Rule 2a-5 under the Investment Company Act of 1940 ("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.

**A. 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.

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

**B. 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.

------

GOLDMAN SACHS FUTURE ETFS

*November 30, 2022 (Unaudited)* 

------

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

------

**C. Fair Value Hierarchy** — The following is a summary of the Funds' investments classified in the fair value hierarchy as of November 30, 2022:

---

| | | | |
|:---|:---|:---|:---|
| **FUTURE CONSUMER EQUITY ETF**<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 | $13364614 | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; Europe | 20325651 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; North America | 48353909 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; South America | 2851822 |  |  |
|  Securities Lending Reinvestment Vehicle | 359352 |  |  |
| **Total** | $85255348 | $— | $— |
| **FUTURE HEALTH CARE EQUITY ETF** |  |  |  |
| **Investment Type** | **Level 1** | **Level 2** | **Level 3** |
| **Assets** |  |  |  |
|  Common Stock and/or Other Equity Investments<sup>(a)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Asia | $6045810 | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; Europe | 12255349 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; North America | 91428924 |  |  |
| **Total** | $109730083 | $— | $— |
| **FUTURE PLANET EQUITY ETF** |  |  |  |
| **Investment Type** | **Level 1** | **Level 2** | **Level 3** |
| **Assets** |  |  |  |
|  Common Stock and/or Other Equity Investments<sup>(a)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Asia | $25952380 | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; Europe | 60271009 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; North America | 79000520 | 6409 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Oceania | 91612 |  |  |
|  Securities Lending Reinvestment Vehicle | 710823 |  |  |
| **Total** | $166026344 | $6409 | $— |

---

------

GOLDMAN SACHS FUTURE ETFS

*November 30, 2022 (Unaudited)* 

------

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

------

---

| | | | |
|:---|:---|:---|:---|
| **FUTURE REAL ESTATE AND INFRASTRUCTURE EQUITY ETF**<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 | $432940 | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; Europe | 6566833 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; North America | 14312948 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Oceania | 1501599 |  |  |
| **Total** | $22814320 | $— | $— |
| **FUTURE TECH LEADERS EQUITY ETF** |  |  |  |
| **Investment Type** | **Level 1** | **Level 2** | **Level 3** |
| **Assets** |  |  |  |
|  Common Stock and/or Other Equity Investments<sup>(a)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Asia | $63258819 | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; Europe | 13288564 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; North America | 137826629 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; South America | 4935151 |  |  |
| **Total** | $219309163 | $— | $— |

---

(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 noted in table. The Fund utilizes fair value model prices provided by an independent third-party fair value service for certain international equity securities resulting in a Level 2
classification.

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

**D. Securities Lending** — The Funds may lend their securities through a securities lending agent, the Bank of New York Mellon ("BNYM"), to certain qualified borrowers. In accordance with the Funds' securities lending procedures, the Funds receive cash collateral at least equal to the market value of the securities on loan. The market value of the loaned securities is determined at the close of business of the Funds, at their last sale price or official closing price on the principal exchange or system on which they are traded, and any additional required collateral is delivered to the Funds on the next business day. As with other extensions of credit, the Funds may experience delay in the recovery of their securities or incur a loss should the borrower of the securities breach its agreement with the Funds or become insolvent at a time when the collateral is insufficient to cover the cost of repurchasing securities on loan. Dividend income received from securities on loan may not be subject to withholding taxes and therefore withholding taxes paid may differ from the amounts listed in the Statements of Operations. Loans of securities are terminable at any time and as such 1) the remaining contractual maturities of the outstanding securities lending transactions are considered to be overnight and continuous and 2) the borrower, after notice, is required to return borrowed securities within the standard time period for settlement of securities transactions. The Funds invest the cash collateral received in connection with securities lending transactions in the Goldman Sachs Financial Square Government Fund ("Government Money Market Fund"), an affiliated series of the Goldman Sachs Trust. The Government Money Market Fund is registered under the Act as an open end investment company, is subject to Rule 2a-7 under the Act, and is managed by GSAM, for which GSAM may receive a management fee of up to 0.16% on an annualized basis of the average daily net assets of the Government Money Market Fund.

In the event of a default by a borrower with respect to any loan, BNYM may exercise any and all remedies provided under the applicable borrower agreement to make the Funds whole. These remedies include purchasing replacement securities by applying the collateral held from the defaulting broker against the purchase cost of the replacement securities. If BNYM is unable to purchase replacement securities, BNYM will indemnify the Funds by paying the Funds an amount equal to the market value of the securities loaned minus the value of cash collateral received from the borrower for the loan, subject to an exclusion for any shortfalls resulting from a loss of value in such cash collateral due to reinvestment risk. The Funds' master netting agreements with certain borrowers provide the right, in the event of a default (including bankruptcy or insolvency), for the non-defaulting party to liquidate the collateral and calculate net exposure to the defaulting party or request additional collateral. However, in the event of a default by a borrower, a resolution authority could determine that such rights are not enforceable due to the restrictions or prohibitions against the right of set-off that may be imposed in accordance with a particular jurisdiction's bankruptcy or insolvency laws. The Funds' loaned securities were all subject to enforceable Securities Lending Agreements, and the value of the collateral was at least equal to the value of the cash received. The amounts of the Funds' overnight and continuous agreements, which represent the gross amounts of recognized liabilities for securities lending transactions outstanding as of November 30, 2022, are disclosed as "Payable upon return of securities loaned" on the Statements of Assets and Liabilities, where applicable.

------

GOLDMAN SACHS FUTURE ETFS

*November 30, 2022 (Unaudited)* 

------

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

------

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

**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.

**Foreign Custody Risk** — If a Fund invests in foreign securities, the Fund may hold such securities and cash with foreign banks, agents, and securities depositories appointed by the Fund's custodian (each a "Foreign Custodian"). Some foreign custodians may be recently organized or new to the foreign custody business. In some countries, Foreign Custodians may be subject to little or no regulatory oversight over, or independent evaluation of, their operations. Further, the laws of certain countries may place limitations on a Fund's ability to recover its assets if a Foreign Custodian enters bankruptcy. Investments in emerging markets may be subject to even greater custody risks than investments in more developed markets. Custody services in emerging market countries are very often undeveloped and may be considerably less well regulated than in more developed countries, and thus may not afford the same level of investor protection as would apply in developed countries.

**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. 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.

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

Additionally, a Fund may also be exposed to credit risk in the event that an issuer or guarantor fails to perform or that an institution or entity with which the Fund has unsettled or open transactions defaults.

**Market Trading Risk** — Each Fund faces numerous market trading risks, including disruptions to creations and redemptions, the existence of extreme market volatility or potential lack of an active trading market for Shares. If a shareholder purchases Shares at a time when the market price is at a premium to the NAV or sells Shares at a time when the market price is at a discount to the NAV, the shareholder may sustain losses. The Investment Adviser cannot predict whether Shares will trade below, at or above their NAV. Price differences may be due, in large part, to the fact that supply and demand forces at work in the secondary trading market for Shares will be closely related to, but not identical to, the same forces influencing the prices of the securities of a Fund trading individually or in the aggregate at any point in time.

**Non-Diversification Risk** — The Funds are non-diversified, meaning that they are permitted to invest a larger percentage of their assets in one or more issuers or in fewer issuers than diversified mutual funds. Thus, a Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.

**Sector Risk** — To the extent a Fund focuses its investments in securities of issuers in one or more sectors (such as the financial services or telecommunications sectors), the Fund may be subjected, to a greater extent than if its investments were diversified across different sectors, to the risks of volatile economic cycles and/or conditions and developments that may be particular to that sector, such as: adverse economic, business, political, environmental or other developments.

## 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 ETF Trust

- **b. Investment Company Act file number:** 811-23013

- **c. CIK number of Registrant:** 0001479026

- **d. LEI of Registrant:** 549300VEZF7K2ES5WL82

- **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:** 312-655-4400

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

- **a. Name of Series:** Goldman Sachs Future Health Care Equity ETF

- **b. EDGAR series identifier (if any):** S000072296

- **c. LEI of Series:** 5493005ZE64A38F67X14

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

- **a. Date of fiscal year-end:** 2023-08-31

- **b. Date as of which information is reported:** 2022-11-30

**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:** $111037464.99

**Total Liabilities:** $65537.18

**Net Assets:** $110971927.81

**Cash Not Reported:** $1289328.21

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000228400 | -5.08%               | 8.06%                | 6.28%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $72586.91                | $-5247529.08                               |
| Month 2  | $-1683807.67             | $9514264.11                                |
| Month 3  | $-649128.22              | $7261123.31                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Halozyme Therapeutics Inc      | Halozyme Therapeutics Inc           | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |     69041 | NS      | $3953287.66   | 3.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc         | Intuitive Surgical Inc              | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |     17915 | NS      | $4844036.85   | 4.37%             |  |  |  | No            |                  1 | On Loan: No      |
| MaxCyte Inc                    | MaxCyte Inc                         | CUSIP: 57777K106<br>LEI: 54930053YHXULRFCU991 | Long             | EC               | CORP              | US        |     49348 | NS      | $295594.52    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Sarepta Therapeutics Inc       | Sarepta Therapeutics Inc            | CUSIP: 803607100<br>LEI: 549300IKDPIED8J8IG21 | Long             | EC               | CORP              | US        |     11273 | NS      | $1384437.13   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Allogene Therapeutics Inc      | Allogene Therapeutics Inc           | CUSIP: 019770106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     46993 | NS      | $463350.98    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Neurocrine Biosciences Inc     | Neurocrine Biosciences Inc          | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Long             | EC               | CORP              | US        |     38690 | NS      | $4915951.40   | 4.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Guardant Health Inc            | Guardant Health Inc                 | CUSIP: 40131M109<br>LEI: 254900M8C3E5VC8BR186 | Long             | EC               | CORP              | US        |     14734 | NS      | $771177.56    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Oxford Nanopore Technologies P | Oxford Nanopore Technologies PLC    | CUSIP: 000000000<br>LEI: 213800IRWQ2Q6M2CDW55 | Long             | EC               | CORP              | GB        |     96171 | NS      | $293196.94    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Chugai Pharmaceutical Co Ltd   | Chugai Pharmaceutical Co Ltd        | CUSIP: 000000000<br>LEI: 529900T9LAII161DCN95 | Long             | EC               | CORP              | JP        |     98224 | NS      | $2550980.19   | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Insulet Corp                   | Insulet Corp                        | CUSIP: 45784P101<br>LEI: 549300TZTYD2PYN92D43 | Long             | EC               | CORP              | US        |     13705 | NS      | $4102865.85   | 3.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Align Technology Inc           | Align Technology Inc                | CUSIP: 016255101<br>LEI: 549300N5YSE0U3LCP840 | Long             | EC               | CORP              | US        |      4023 | NS      | $791163.18    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Kyowa Kirin Co Ltd             | Kyowa Kirin Co Ltd                  | CUSIP: 000000000<br>LEI: 529900TBXKVTQGYA3582 | Long             | EC               | CORP              | JP        |     70742 | NS      | $1609616.24   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Cytokinetics Inc               | Cytokinetics Inc                    | CUSIP: 23282W605<br>LEI: 549300BE5DY1HW7IHA64 | Long             | EC               | CORP              | US        |      6417 | NS      | $272722.50    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Argenx SE                      | Argenx SE                           | CUSIP: 04016X101<br>LEI: 7245009C5FZE6G9ODQ71 | Long             | EC               | CORP              | NL        |      5199 | NS      | $2069046.03   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Alnylam Pharmaceuticals Inc    | Alnylam Pharmaceuticals Inc         | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Long             | EC               | CORP              | US        |      5894 | NS      | $1300157.46   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Mettler-Toledo International I | Mettler-Toledo International Inc    | CUSIP: 592688105<br>LEI: 5493000BD5GJNUDIUG10 | Long             | EC               | CORP              | US        |      2292 | NS      | $3368231.52   | 3.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Seagen Inc                     | Seagen Inc                          | CUSIP: 81181C104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21815 | NS      | $2648122.85   | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelixis Inc                   | Exelixis Inc                        | CUSIP: 30161Q104<br>LEI: 254900PJQB59O2O95R37 | Long             | EC               | CORP              | US        |     43314 | NS      | $739803.12    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Axonics Inc                    | Axonics Inc                         | CUSIP: 05465P101<br>LEI: 549300LJY4X7N57VJL05 | Long             | EC               | CORP              | US        |     14734 | NS      | $1008984.32   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| BioMarin Pharmaceutical Inc    | BioMarin Pharmaceutical Inc         | CUSIP: 09061G101<br>LEI: NSLL8ITTRR0J5HEMR848 | Long             | EC               | CORP              | US        |      6846 | NS      | $691309.08    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp                   | Danaher Corp                        | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |      6549 | NS      | $1790562.09   | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| CSL Ltd                        | CSL Ltd                             | CUSIP: 000000000<br>LEI: 529900ECSECK5ZDQTE14 | Long             | EC               | CORP              | AU        |     17408 | NS      | $3498724.64   | 3.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexandria Real Estate Equitie | Alexandria Real Estate Equities Inc | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               | CORP              | US        |     14781 | NS      | $2300071.41   | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| 2seventy bio Inc               | 2seventy bio Inc                    | CUSIP: 901384107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     42472 | NS      | $665536.24    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeva Systems Inc              | Veeva Systems Inc                   | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |     17260 | NS      | $3285613.60   | 2.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Agios Pharmaceuticals Inc      | Agios Pharmaceuticals Inc           | CUSIP: 00847X104<br>LEI: 529900ONJHY8EOGYT555 | Long             | EC               | CORP              | US        |     36298 | NS      | $1094021.72   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Novanta Inc                    | Novanta Inc                         | CUSIP: 67000B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12910 | NS      | $2036552.50   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Scientific Corp         | Boston Scientific Corp              | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |    101691 | NS      | $4603551.57   | 4.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Beam Therapeutics Inc          | Beam Therapeutics Inc               | CUSIP: 07373V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14968 | NS      | $691371.92    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| iRhythm Technologies Inc       | iRhythm Technologies Inc            | CUSIP: 450056106<br>LEI: 549300FJI72RJGDQS384 | Long             | EC               | CORP              | US        |      3649 | NS      | $397923.45    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Shockwave Medical Inc          | Shockwave Medical Inc               | CUSIP: 82489T104<br>LEI: 549300LDXO56IC5Y1538 | Long             | EC               | CORP              | US        |      5192 | NS      | $1316691.20   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| West Pharmaceutical Services I | West Pharmaceutical Services Inc    | CUSIP: 955306105<br>LEI: 5493007NKRGM1RJQ1P16 | Long             | EC               | CORP              | US        |      9849 | NS      | $2311166.34   | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Ultragenyx Pharmaceutical Inc  | Ultragenyx Pharmaceutical Inc       | CUSIP: 90400D108<br>LEI: 529900EV44GVDN1DCX77 | Long             | EC               | CORP              | US        |     14407 | NS      | $522974.10    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Dexcom Inc                     | Dexcom Inc                          | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |     30779 | NS      | $3578982.12   | 3.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co                 | Eli Lilly & Co                      | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |     17014 | NS      | $6313555.12   | 5.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Sage Therapeutics Inc          | Sage Therapeutics Inc               | CUSIP: 78667J108<br>LEI: 5493000JX4BJS9W6CN35 | Long             | EC               | CORP              | US        |      8010 | NS      | $328730.40    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Stevanato Group SpA            | Stevanato Group SpA                 | CUSIP: 000000000<br>LEI: 81560033F7E1CD477507 | Long             | EC               | CORP              | IT        |     25914 | NS      | $396743.34    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Catalent Inc                   | Catalent Inc                        | CUSIP: 148806102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20790 | NS      | $1042202.70   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Illumina Inc                   | Illumina Inc                        | CUSIP: 452327109<br>LEI: SQ95QG8SR5Q56LSNF682 | Long             | EC               | CORP              | US        |     13433 | NS      | $2929468.64   | 2.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristol-Myers Squibb Co        | Bristol-Myers Squibb Co             | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |     38871 | NS      | $3120563.88   | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Inari Medical Inc              | Inari Medical Inc                   | CUSIP: 45332Y109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9916 | NS      | $729619.28    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Cooper Cos Inc/The             | Cooper Cos Inc/The                  | CUSIP: 216648402<br>LEI: QJKMVPIGLH7530PCUE20 | Long             | EC               | CORP              | US        |      6408 | NS      | $2027170.80   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEXX Laboratories Inc         | IDEXX Laboratories Inc              | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |      3179 | NS      | $1353840.73   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Lonza Group AG                 | Lonza Group AG                      | CUSIP: 000000000<br>LEI: 549300EFW4H2TCZ71055 | Long             | EC               | CORP              | CH        |      1540 | NS      | $792346.37    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Sartorius Stedim Biotech       | Sartorius Stedim Biotech            | CUSIP: 000000000<br>LEI: 52990006IVXY7GCSSR39 | Long             | EC               | CORP              | FR        |      2387 | NS      | $794598.76    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca PLC                | AstraZeneca PLC                     | CUSIP: 000000000<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |     37888 | NS      | $5038191.07   | 4.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Genmab A/S                     | Genmab A/S                          | CUSIP: 372303206<br>LEI: 529900MTJPDPE4MHJ122 | Long             | EC               | CORP              | DK        |     61707 | NS      | $2871226.71   | 2.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Edwards Lifesciences Corp      | Edwards Lifesciences Corp           | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Long             | EC               | CORP              | US        |     40040 | NS      | $3093090.00   | 2.79%             |  |  |  | No            |                  1 | On Loan: No      |
| QIAGEN NV                      | QIAGEN NV                           | CUSIP: 000000000<br>LEI: 54930036WK3GMCN17Z57 | Long             | EC               | CORP              | NL        |      7309 | NS      | $362087.86    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences Inc            | Gilead Sciences Inc                 | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |     56191 | NS      | $4935255.53   | 4.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Zimmer Biomet Holdings Inc     | Zimmer Biomet Holdings Inc          | CUSIP: 98956P102<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | EC               | CORP              | US        |     14182 | NS      | $1703258.20   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Hoya Corp                      | Hoya Corp                           | CUSIP: 000000000<br>LEI: 353800X4VR3BHEUCJB42 | Long             | EC               | CORP              | JP        |     18710 | NS      | $1885212.84   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Biogen Inc                     | Biogen Inc                          | CUSIP: 09062X103<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | EC               | CORP              | US        |     12600 | NS      | $3845142.00   | 3.46%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-25

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

**Signature:** Peter Fortner

**Name of Signer:** Peter Fortner

**Title:** Vice President Assistant Treasurer