# EDGAR Filing Document

**Accession Number:** 0001479026
**File Stem:** 0001752724-25-173989
**Filing Date:** 2025-7
**Character Count:** 47882
**Document Hash:** 5ae285af20011b664359c30b372b4100
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-173989.hdr.sgml**: 20250722

**ACCESSION NUMBER**: 0001752724-25-173989

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250722

**DATE AS OF CHANGE**: 20250722

**PERIOD START**: 20250831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Goldman Sachs ETF Trust
- **CENTRAL INDEX KEY:** 0001479026

**ORGANIZATION NAME:**
- **EIN:** 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:** 251140749

**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 U.S. Large Cap Buffer 1 ETF (Series ID: S000088426)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000254693 | Goldman Sachs U.S. Large Cap Buffer 1 ETF |  |

## Nport-Ex

GOLDMAN

SACHS

U.S.

LARGE

CAP

BUFFER

ETF

Schedule

of

Investments

May

31,

2025

(Unaudited)

#### \*\*End

#### swaps

#### header\*\*

#### Additional

#### Investment

#### Information

#### Shares

#### Description

#### Value

#### a

#### Exchange

#### Traded

#### Funds

#### –

#### 101.1%
86,400

SPDR

Portfolio

S&P

500

ETF

(Cost

$5,923,358)

$

5,990,112

#### TOTAL

#### INVESTMENTS

#### –

#### 101.1%

#### (Cost

#### $5,923,358)
$

5,990,112

#### LIABILITIES

#### IN

#### EXCESS

#### OF

#### OTHER

#### ASSETS

#### –

#### (1.1)%
(62,689)

#### NET

#### ASSETS

#### –

#### 100.0%
$

5,927,423

&nbsp;&nbsp;&nbsp;&nbsp;a

The

percentage

shown

for

each

investment

category

reflects

the

value

of

investments

in

that

category

as

a

percentage

of

net

assets.

#### PURCHASED

#### &

#### WRITTEN

#### OPTIONS

#### CONTRACTS
—

At

May

31,

2025,

the

Fund

had

the

following

purchased

and

written

option

contracts:

#### FLEX

#### OPTIONS

#### ON

#### EQUITIES

#### CONTRACTS

#### Description

#### Counterparty

#### Exercise

#### Rate

#### Expiration

#### Date

#### Number

#### of

#### Contracts

#### Notional

#### Amount

#### Market

#### Value

#### Premiums

#### Paid
(Received)

#### by

#### the

#### Fund

#### Unrealized

#### Appreciation/
(Depreciation)

Purchased

Option

Contracts:

Puts

S&P

500

Index

Morgan

Stanley

Co.,

Inc.

$

62.47 07/02/2025

864

$

5,397

$

17,511

$

100,440

$

(82,929)

S&P

500

Index

Morgan

Stanley

Co.,

Inc.

49.32 07/02/2025

864

4,261

1,658

16,632

(14,974)

Total

purchased

option

contracts

1,728

$

9,658

$

19,169

$

117,072

$

(97,903)

#### Description

#### Counterparty

#### Exercise

#### Rate

#### Expiration

#### Date

#### Number

#### of

#### Contracts

#### Notional

#### Amount

#### Market

#### Value

#### Premiums

#### Paid
(Received)

#### by

#### the

#### Fund

#### Unrealized

#### Appreciation/
(Depreciation)

Written

Option

Contracts:

Calls

S&P

500

Index

Morgan

Stanley

Co.,

Inc.

$

70.40 07/02/2025

(864) $

(6,082)

$

(73,963)

$

(46,440)

$

(27,523)

Puts

S&P

500

Index

Morgan

Stanley

Co.,

Inc.

$

55.90 07/02/2025

(864) $

(4,830)

$

(5,419)

$

(37,800)

$

32,381

Total

written

option

contracts

(1,728)

$

(10,912)

$

(79,382)

$

(84,240)

$

4,858

GOLDMAN

SACHS

U.S.

LARGE

CAP

BUFFER

ETF

Schedule

of

Investments

May

31,

2025

(Unaudited)

#### \*\*End

#### swaps

#### header\*\*

#### Shares

#### Description

#### Value

#### a

#### Exchange

#### Traded

#### Funds

#### –

#### 103.1%
87,400

SPDR

Portfolio

S&P

500

ETF

(Cost

$6,087,928)

$

6,059,442

#### TOTAL

#### INVESTMENTS

#### –

#### 103.1%

#### (Cost

#### $6,087,928)
$

6,059,442

#### Shares

#### Description

#### Value

#### a

#### Exchange

#### Traded

#### Funds

#### –
(continued)

#### LIABILITIES

#### IN

#### EXCESS

#### OF

#### OTHER

#### ASSETS

#### –

#### (3.1)%
(182,877)

#### NET

#### ASSETS

#### –

#### 100.0%
$

5,876,565

&nbsp;&nbsp;&nbsp;&nbsp;a

The

percentage

shown

for

each

investment

category

reflects

the

value

of

investments

in

that

category

as

a

percentage

of

net

assets.

#### PURCHASED

#### &

#### WRITTEN

#### OPTIONS

#### CONTRACTS
—

At

May

31,

2025,

the

Fund

had

the

following

purchased

and

written

option

contracts:

#### OVER-THE-COUNTER

#### OPTIONS

#### ON

#### EQUITIES

#### Description

#### Counterparty

#### Exercise

#### Rate

#### Expiration

#### Date

#### Number

#### of

#### Contracts

#### Notional

#### Amount

#### Market

#### Value

#### Premiums

#### Paid
(Received)

#### by

#### the

#### Fund

#### Unrealized

#### Appreciation/
(Depreciation)

Purchased

Option

Contracts:

Puts

S&P

500

Index

Morgan

Stanley

Co.,Inc.

$

61.94 08/04/2025

874

$

5,414

$

39,460

$

142,244

$

(102,783)

S&P

500

Index

Morgan

Stanley

Co.,Inc.

48.25 08/04/2025

874

4,217

7,287

22,505

(15,219)

Total

purchased

option

contracts

1,748

$

9,631

$

46,747

$

164,749

$

(118,002)

#### OTC

#### WRITTEN

#### OPTIONS

#### -

#### OPTIONS

#### ON

#### SECURITIES

#### Description

#### Counterparty

#### Exercise

#### Rate

#### Expiration

#### Date

#### Number

#### of

#### Contracts

#### Notional

#### Amount

#### Market

#### Value

#### Premiums

#### Paid
(Received)

#### by

#### the

#### Fund

#### Unrealized

#### Appreciation/
(Depreciation)

Written

Option

Contracts:

Calls

S&P

500

Index

Morgan

Stanley

Co.,Inc.

$

69.44 08/04/2025

(874) $

(6,069)

$

(188,784)

$

(91,114)

$

(97,670)

Puts

S&P

500

Index

Morgan

Stanley

Co.,Inc.

$

55.42 08/04/2025

(874) $

(4,844)

$

(15,500)

$

(57,029)

$

41,529

Total

written

option

contracts

(1,748)

$

(10,913)

$

(204,284)

$

(148,143)

$

(56,141)

GOLDMAN

SACHS

U.S.

LARGE

CAP

BUFFER

ETF

Schedule

of

Investments

May

31, 2025

(Unaudited)

#### \*\*End

#### swaps

#### header\*\*

#### Shares

#### Description

#### Value

#### a

#### Exchange

#### Traded

#### Funds

#### –

#### 99.5%
120,000

SPDR

Portfolio

S&P

500

ETF

(Cost

$8,203,551)

$

8,319,600

#### Shares

#### Dividend

#### Rate

#### Value

#### Investment

#### Company

#### –

#### 0.7%
(a) Goldman

Sachs

Financial

Square

Treasury

Obligations

Fund

-

Institutional

Shares

60,679

4.192%

60,679

(Cost

$60,679)

#### TOTAL

#### INVESTMENTS

#### –

#### 100.2%

#### (Cost

#### $8,264,230)
$

8,380,279

#### LIABILITIES

#### IN

#### EXCESS

#### OF

#### OTHER

#### ASSETS

#### –

#### (0.2)%
(19,172)

#### NET

#### ASSETS

#### –

#### 100.0%
$

8,361,107

&nbsp;&nbsp;&nbsp;&nbsp;a

The

percentage

shown

for

each

investment

category

reflects

the

value

of

investments

in

that

category

as

a

percentage

of

net

assets.

(a) Represents

an

affiliated

issuer.

#### PURCHASED

#### &

#### WRITTEN

#### OPTIONS

#### CONTRACTS
—

At

May

31,

2025,

the

Fund

had

the

following

purchased

and

written

option

contracts:

#### FLEX

#### OPTIONS

#### ON

#### EQUITIES

#### CONTRACTS

#### Description

#### Counterparty

#### Exercise

#### Rate

#### Expiration

#### Date

#### Number

#### of

#### Contracts

#### Notional

#### Amount

#### Market

#### Value

#### Premiums

#### Paid
(Received)

#### by

#### the

#### Fund

#### Unrealized

#### Appreciation/
(Depreciation)

Purchased

Option

Contracts:

Puts

S&P

500

Index

Morgan

Stanley

Co.,

Inc.

$

65.86 09/03/2025

1,200

$

7,903

$

162,567

$

153,900

$

8,667

S&P

500

Index

Morgan

Stanley

Co.,

Inc.

51.30 09/03/2025

1,200

6,156

22,713

24,300

(1,587)

Total

purchased

option

contracts

2,400

$

14,059

$

185,280

$

178,200

$

7,080

#### Description

#### Counterparty

#### Exercise

#### Rate

#### Expiration

#### Date

#### Number

#### of

#### Contracts

#### Notional

#### Amount

#### Market

#### Value

#### Premiums

#### Paid
(Received)

#### by

#### the

#### Fund

#### Unrealized

#### Appreciation/
(Depreciation)

Written

Option

Contracts:

Calls

S&P

500

Index

Morgan

Stanley

Co.,

Inc.

$

73.32 09/03/2025

(1,200)

$

(8,798)

$

(109,667)

$

(93,300)

$

(16,367)

Puts

S&P

500

Index

Morgan

Stanley

Co.,

Inc.

$

58.93 09/03/2025

(1,200)

$

(7,072)

$

(65,501)

$

(57,300)

$

(8,201)

Total

written

option

contracts

(2,400)

$

(15,870)

$

(175,168)

$

(150,600)

$

(24,568)

Goldman

Sachs

Buffer

ETFs

Schedule

of

Investments

May

31,

2025

(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

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

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

—

Unadjusted

quoted

prices

in

active

markets

that

are

accessible

at

the

measurement

date

for

identical,

unrestricted

assets

or

liabilities;

Level

—

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

—

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

Act

(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

and

Level

Fair

Value

Investments

—

The

valuation

techniques

and

significant

inputs

used

in

determining

the

fair

values

for

investments

classified

as

Level

and

Level

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

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. Goldman

Sachs

Buffer

ETFs

Schedule

of

Investments

(continued)

May

31,

2025

(Unaudited)

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

of

the

fair

value

hierarchy.

To

the

extent

that

underlying

ETFs

are

actively

traded,

they

are

classified

as

Level

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

shareholder

report.

Derivative

Contracts

—

A

derivative

is

an

instrument

whose

value

is

derived

from

underlying

assets,

indices,

reference

rates

or

a

combination

of

these

factors.

A

Fund

enters

into

derivative

transactions

to

hedge

against

changes

in

interest

rates,

securities

prices,

and/or

currency

exchange

rates,

to

increase

total

return,

or

to

gain

access

to

certain

markets

or

attain

exposure

to

other

underliers.

For

financial

reporting

purposes,

cash

collateral

that

has

been

pledged

to

cover

obligations

of

a

Fund

and

cash

collateral

received,

if

any,

is

reported

separately

on

the

Statements

of

Assets

and

Liabilities

as

either

due

to

broker/receivable

for

collateral

on

certain

derivative

contracts.

Non-cash

collateral

pledged

by

a

Fund,

if

any,

is

noted

in

the

Schedules

of

Investments.

Exchange-traded

derivatives,

including

futures

and

options

contracts,

are

generally

valued

at

the

last

sale

or

settlement

price

on

the

exchange

where

they

are

principally

traded.

Exchange-traded

options

without

settlement

prices

are

generally

valued

at

the

last

bid

price

for

long

positions

and

the

last

ask

price

for

short

positions

on

the

exchange

where

they

are

principally

traded.

Exchange-traded

derivatives

typically

fall

within

Level

of

the

fair

value

hierarchy.

Over-the-counter

("OTC")

and

centrally

cleared

derivatives

are

valued

using

market

transactions

and

other

market

evidence,

including

market-based

inputs

to

models,

calibration

to

market-clearing

transactions,

broker

or

dealer

quotations,

or

other

alternative

pricing

sources.

Where

models

are

used,

the

selection

of

a

particular

model

to

value

OTC

and

centrally

cleared

derivatives

depends

upon

the

contractual

terms

of,

and

specific

risks

inherent

in,

the

instrument,

as

well

as

the

availability

of

pricing

information

in

the

market.

Valuation

models

require

a

variety

of

inputs,

including

contractual

terms,

market

prices,

yield

curves,

credit

curves,

measures

of

volatility,

voluntary

and

involuntary

prepayment

rates,

loss

severity

rates

and

correlations

of

such

inputs.

For

OTC

and

centrally

cleared

derivatives

that

trade

in

liquid

markets,

model

inputs

can

generally

be

verified

and

model

selection

does

not

involve

significant

management

judgment.

OTC

and

centrally

cleared

derivatives

are

classified

within

Level

of

the

fair

value

hierarchy

when

significant

inputs

are

corroborated

by

market

evidence.

i. Options

—

When

a

Fund

writes

call

or

put

options,

an

amount

equal

to

the

premium

received

is

recorded

as

a

liability

and

is

subsequently

marked-to-market

to

reflect

the

current

value

of

the

option

written.

Swaptions

are

options

on

swap

contracts.

Upon

the

purchase

of

a

call

option

or

a

put

option

by

a

Fund,

the

premium

paid

is

recorded

as

an

investment

and

subsequently

marked-to-market

to

reflect

the

current

value

of

the

option.

Certain

options

may

be

purchased

with

premiums

to

be

determined

on

a

future

date.

The

premiums

for

these

options

are

based

upon

implied

volatility

parameters

at

specified

terms.

Level

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

investments.

#### NOTES

#### TO

#### THE

#### SCHEDULE

#### OF

#### INVESTMENTS
(continued)

Goldman

Sachs

Buffer

ETFs

Schedule

of

Investments

(continued)

May

31,

2025

(Unaudited)

Fair

Value

Hierarchy

—

The

following

is

a

summary

of

the

Funds'

investments

classified

in

the

fair

value

hierarchy

as

of

May

31,

2025:

For

further

information

regarding

security

characteristics,

see

the

Schedules

of

Investments.

#### U.S.

#### Large

#### Cap

#### Buffer

#### 1

#### ETF

#### Investment

#### Type

#### Level

#### 1

#### Level

#### 2

#### Level

#### 3

#### Assets
Exchange

Traded

Funds

$

5,990,112

$

—

$

—

€

1.00 €

1.00 €

1.00 #### Derivative

#### Type

#### Assets
Purchased

Options

Contracts

$

—

$

19,169

$

—

€

1.00 €

1.00 €

1.00 #### Liabilities
Written

Options

Contracts

$

—

$

(79,382)

$

—

€

1.00 €

1.00 €

1.00 #### U.S.

#### Large

#### Cap

#### Buffer

#### 2

#### ETF

#### Investment

#### Type

#### Level

#### 1

#### Level

#### 2

#### Level

#### 3

#### Assets
Exchange

Traded

Funds

$

6,059,442

$

—

$

—

€

1.00 €

1.00 €

1.00 #### Derivative

#### Type

#### Assets
Purchased

Options

Contracts

$

—

$

46,747

$

—

€

1.00 €

1.00 €

1.00 #### Liabilities
Written

Options

Contracts

$

—

$

(204,284)

$

—

€

1.00 €

1.00 €

1.00 #### U.S.

#### Large

#### Cap

#### Buffer

#### 3

#### ETF

#### Investment

#### Type

#### Level

#### 1

#### Level

#### 2

#### Level

#### 3

#### Assets
Exchange

Traded

Funds

$

8,319,600

$

—

$

—

Investment

Companies

60,679

—

—

#### Total
$

8,380,279

$

—

$

—

€

1.00 €

1.00 €

1.00 #### Derivative

#### Type

#### Assets
Purchased

Options

Contracts

$

—

$

185,280

$

—

€

1.00 €

1.00 €

1.00 #### Liabilities
Written

Options

Contracts

$

—

$

(175,168)

$

—

€

1.00 €

1.00 €

1.00 (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.

#### NOTES

#### TO

#### THE

#### SCHEDULE

#### OF

#### INVESTMENTS
(continued)

Goldman

Sachs

Buffer

ETFs

Schedule

of

Investments

(continued)

May

31,

2025

(Unaudited)

Securities

Lending

—

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

Funds'

risks

include,

but

are

not

limited

to,

the

following:

Buffered

Loss

Risk

—

There

can

be

no

guarantee

that

the

Fund

will

be

successful

in

its

strategy

to

provide

buffered

protection

against

losses

if

the

value

of

the

Underlying

ETF

decreases

over

an

Outcome

Period

in

excess

of

the

Initial

Loss.

In

the

event

an

investor

purchases

shares

after

the

commencement

of

the

Outcome

Period

or

sells

shares

prior

to

the

end

of

the

Outcome

Period,

the

investor

may

not

experience

the

full

effect

of

the

Buffer

that

the

Fund

seeks

to

provide.

The

Fund

does

not

provide

principal

protection

and

an

investor

may

experience

significant

losses

on

their

investment,

including

the

loss

of

their

entire

investment.

The

Buffer

is

not

guaranteed

and

may

not

be

achieved.

Please

refer

to

the

Fund's

website,

which

provides

the

latest

information

on

a

daily

basis

throughout

the

Outcome

Period.

Capped

Upside

Return

Risk

—

The

Fund's

strategy

seeks

to

provide

returns

only

up

to

the

Cap

over

an

Outcome

Period

before

Fund

fees

and

expenses.

In

the

event

that

the

value

of

the

Underlying

ETF

increases

in

excess

of

the

Cap

during

an

Outcome

Period,

the

Fund

will

not

participate

in

those

gains

beyond

the

Cap

for

that

Outcome

Period.

In

the

event

an

investor

purchases

shares

after

the

commencement

of

an

Outcome

Period

and

the

Fund

has

risen

in

value

to

a

level

near

the

Cap,

there

will

likely

be

little

or

no

ability

for

that

investor

to

experience

investment

gains

for

the

remainder

of

that

Outcome

Period.

A

new

Cap

is

established

on

or

before

the

first

day

of

each

Outcome

Period

and

is

dependent

on

prevailing

market

conditions.

Accordingly,

the

Cap

may

increase

or

decrease

from

one

Outcome

Period

to

the

next.

The

Cap

is

based

on

the

market

costs

associated

with

a

series

of

Options

(or

other

derivatives)

#### NOTES

#### TO

#### THE

#### SCHEDULE

#### OF

#### INVESTMENTS
(continued)

Goldman

Sachs

Buffer

ETFs

Schedule

of

Investments

(continued)

May

31,

2025

(Unaudited)

that

are

purchased

and

sold

in

order

to

seek

to

obtain

the

relevant

market

exposure,

the

Buffer

and

Deep

Downside

Protection.

The

market

conditions

and

other

factors

that

influence

the

Cap

can

include,

but

are

not

limited

to,

interest

rate

levels,

the

volatility

of

the

Underlying

ETF,

and

relationship

of

put

and

calls

on

the

underlying

Options.

Depending

on

those

factors,

it

is

possible

that

the

Cap

will

limit

the

Fund's

return

during

an

Outcome

Period

to

a

level

substantially

less

than

an

investor

might

expect

from

another

comparable

equity

product

that

does

not

employ

a

Cap,

the

Buffer

and

Deep

Downside

Protection.

The

Cap

may

decrease

from

one

Outcome

Period

to

the

next.

Please

refer

to

the

Fund's

website,

which

provides

the

latest

information

on

a

daily

basis

throughout

the

Outcome

Period.

Deep

Downside

Protection

Risk

—

There

can

be

no

guarantee

that

the

Fund

will

be

successful

in

its

strategy

to

provide

Deep

Downside

Protection

against

losses

if

the

value

of

the

Underlying

ETF

decreases

over

an

Outcome

Period.

In

the

event

an

investor

purchases

shares

after

the

commencement

of

the

Outcome

Period

or

sells

shares

prior

to

the

end

of

the

Outcome

Period,

the

investor

may

not

experience

the

full

effect

of

the

Deep

Downside

Protection

that

the

Fund

seeks

to

provide.

The

Fund

does

not

provide

principal

protection

and

an

investor

may

experience

significant

losses

on

their

investment,

including

the

loss

of

their

entire

investment

despite

the

Deep

Downside

Protection.

The

Deep

Downside

Protection

is

not

guaranteed

and

may

not

be

achieved.

Please

refer

to

the

Fund's

website,

which

provides

the

latest

information

on

a

daily

basis

throughout

the

Outcome

Period.

Derivatives

Risk

—

The

Fund's

use

of

options

(including

FLEX

Options,

as

defined

below),

futures,

credit

default

swaps,

total

return

swaps

and

other

derivative

instruments

may

result

in

losses,

including

due

to

adverse

market

movements.

These

instruments,

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

Fund

and

may

expire

worthless.

Certain

derivatives

are

also

subject

to

counterparty

risk,

which

is

the

risk

that

the

other

party

in

the

transaction

will

not

fulfill

its

contractual

obligations.

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.

FLEX

Options

Risk

—

The

Fund

utilizes

FLexible

EXchange®

Options

("FLEX

Options")

guaranteed

for

settlement

by

the

Options

Clearing

Corporation

(the

"OCC"),

and

bears

the

risk

that

the

OCC

will

be

unable

or

unwilling

to

perform

its

obligations

under

the

FLEX

Options

contracts,

which

is

a

form

of

counterparty

risk.

Additionally,

FLEX

Options

may

be

less

liquid

than

certain

other

securities,

such

as

standardized

options.

In

a

less

liquid

market,

the

Fund

may

have

difficulty

closing

out

certain

FLEX

Options

positions

at

desired

times

and

prices

(and

may

have

to

pay

a

premium

or

accept

a

discounted

price).

The

Fund

may

experience

substantial

downside

from

certain

FLEX

Option

positions,

and

FLEX

Option

positions

may

expire

worthless.

The

value

of

the

FLEX

Options

will

be

affected

by,

among

other

things,

changes

in

the

value

of

the

Underlying

Index,

changes

in

interest

rates,

changes

in

the

actual

and

implied

volatility

of

the

Underlying

Index

and

the

remaining

time

until

the

FLEX

Options

expire.

The

value

of

FLEX

Options

does

not

increase

or

decrease

at

the

same

rate

as

the

level

of

the

Underlying

Index

(although

they

generally

move

in

the

same

direction).

Investments

in

Other

Investment

Companies

Risk

—

As

a

shareholder

of

another

investment

company,

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.

Investment

Objective

and

Outcomes

Risk

—

There

is

no

guarantee

that

the

Fund

will

be

successful

in

its

attempt

to

achieve

its

investment

objective

and/or

its

strategy

to

provide

buffered

protection

against

losses.

An

investor

could

lose

some

or

all

of

their

investment

in

the

Fund.

Certain

circumstances

under

which

the

Fund

might

not

achieve

its

objective

and/or

its

strategy

to

provide

buffered

protection

against

losses

include,

but

are

not

limited

to:

(i) if

the

Fund

disposes

of

FLEX

Options;

(ii) if

the

Fund

is

unable

to

maintain

the

proportional

relationship

based

on

the

number

of

FLEX

Options

in

the

Fund's

portfolio;

(iii) significant

accrual

of

Fund

expenses

in

connection

with

effecting

the

Fund's

investment

strategy;

(iv) losses

resulting

from

the

investment

strategy;

or

(v) adverse

tax

law

changes

affecting

the

treatment

of

FLEX

Options.

#### NOTES

#### TO

#### THE

#### SCHEDULE

#### OF

#### INVESTMENTS
(continued)

Goldman

Sachs

Buffer

ETFs

Schedule

of

Investments

(continued)

May

31,

2025

(Unaudited)

Large

Shareholder

Transaction

Risk

—

Certain

shareholders,

including

other

funds

advised

by

the

Investment

Adviser,

may

from

time

to

time

own

a

substantial

amount

of

the

Fund's

Shares.

In

addition,

a

third

party

investor,

the

Investment

Adviser

or

an

affiliate

of

the

Investment

Adviser,

an

authorized

participant,

a

lead

market

maker,

or

another

entity

(i.e.,

a

seed

investor)

may

invest

in

the

Fund

and

hold

its

investment

solely

to

facilitate

commencement

of

the

Fund

or

to

facilitate

the

Fund's

achieving

a

specified

size

or

scale.

Any

such

investment

may

be

held

for

a

limited

period

of

time.

There

can

be

no

assurance

that

any

large

shareholder

would

not

redeem

its

investment,

that

the

size

of

the

Fund

would

be

maintained

at

such

levels

or

that

the

Fund

would

continue

to

meet

applicable

listing

requirements.

Redemptions

by

large

shareholders

could

have

a

significant

negative

impact

on

the

Fund,

including

on

the

Fund's

liquidity.

In

addition,

transactions

by

large

shareholders

may

account

for

a

large

percentage

of

the

trading

volume

on

Cboe

and

may,

therefore,

have

a

material

upward

or

downward

effect

on

the

market

price

of

the

Shares.

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.

To

the

extent

a

Fund

engages

in

cash

redemptions,

then

liquidity

risk

may

also

refer

to

the

risk

that

the

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,

the

Fund

may

be

forced

to

sell

investments

at

an

unfavorable

time

and/or

under

unfavorable

conditions.

If

a

Fund

is

forced

to

sell

securities

at

an

unfavorable

time

and/or

under

unfavorable

conditions,

such

sales

may

adversely

affect

the

Fund's

NAV

and

dilute

remaining

investors'

interests.

Market

Risk

—

The

value

of

the

securities

in

which

the

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

spread

of

infectious

illness

or

other

public

health

threat

or

potential

of

one

or

more

such

events

and

developments,

could

also

significantly

impact

a

Fund

and

its

investments.

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

pay

more

for,

or

receive

less

than,

the

underlying

value

of

the

Shares,

respectively.

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's

Index

trading

individually

or

in

the

aggregate

at

any

point

in

time.

Non-Diversification

Risk

—

The

U.S.

Large

Cap

Buffer

ETF,

U.S.

Large

Cap

Buffer

ETF

and

U.S.

Large

Cap

Buffer

ETF

are

non-diversified,

meaning

that

it

is

permitted

to

invest

a

larger

percentage

of

its

assets

in

one

or

more

issuers

or

in

fewer

issuers

than

diversified

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.

Option

Writing

Risk

—

Writing

(selling)

options

may

limit

the

opportunity

to

profit

from

an

increase

or

decrease

in

the

market

value

of

a

reference

security

in

exchange

for

up-front

cash

(the

premium)

at

the

time

of

selling

the

option.

In

a

sharp

rising

or

falling

market,

the

Fund

could

significantly

underperform

the

market

or

other

portfolios

without

an

option

writing

strategy.

The

Fund

could

also

experience

a

sudden,

significant

permanent

loss

due

to

dramatic

movements

in

the

market

value

of

reference

security,

which

may

far

exceed

the

premiums

received

for

writing

the

option.

Such

significant

losses

could

cause

significant

deteriorations

in

the

Fund's

NAV.

Furthermore,

the

premium

received

from

the

Fund's

option

writing

strategies

may

not

fully

protect

it

against

market

movements

because

the

Fund

will

continue

to

bear

the

risk

of

movements

in

the

value

of

its

portfolio

investments.

#### NOTES

#### TO

#### THE

#### SCHEDULE

#### OF

#### INVESTMENTS
(continued)

Goldman

Sachs

Buffer

ETFs

Schedule

of

Investments

(continued)

May

31,

2025

(Unaudited)

Outcome

Period

Risk

—

The

Fund's

investment

strategy

is

designed

to

deliver

returns

that

match

the

Underlying

ETF,

subject

to

the

Buffer,

Deep

Downside

Protection

and

Cap,

only

if

shares

are

bought

by

the

first

day

of

the

Outcome

Period

and

held

until

the

end

of

the

Outcome

Period.

If

an

investor

purchases

or

sells

shares

during

the

Outcome

Period,

the

returns

realized

by

the

investor

will

not

match

those

that

the

Fund

seeks

to

achieve.

In

addition,

the

Cap

may

change

from

one

Outcome

Period

to

the

next

and

is

unlikely

to

remain

the

same

for

consecutive

Outcome

Periods.

Moreover,

the

Fund's

returns

will

be

reduced

by

Fund

fees

and

expenses

as

well

as

any

brokerage

commissions,

trading

fees,

taxes

and

non-routine

or

extraordinary

expenses

incurred

by

the

Fund

throughout

an

Outcome

Period.

Accordingly,

the

maximum

performance

of

the

Fund

over

an

Outcome

Period

is

expected

to

be

lower

than

the

Cap

by

these

fees

and

expenses

and

the

performance

of

the

Fund

over

an

Outcome

period

will

be

reduced

by

these

fees

and

expenses

in

addition

to

losses

beyond

the

Buffer

up

to

the

Deep

Downside

Protection.

Tracking

Error

Risk

—

Tracking

error

is

the

divergence

of

the

Underlying

ETF's

performance

from

that

of

the

Underlying

ETF's

Index.

The

performance

of

the

Underlying

ETF

may

diverge

from

that

of

the

benchmark

for

a

number

of

reasons.

Tracking

error

may

occur

because

of

transaction

costs,

the

Underlying

ETF's

holding

of

cash,

differences

in

accrual

of

dividends,

changes

to

the

Underlying

ETF's

Index

or

the

need

to

meet

new

or

existing

regulatory

requirements.

Unlike

the

Underlying

ETF,

the

returns

of

the

benchmark

are

not

reduced

by

investment

and

other

operating

expenses,

including

the

trading

costs

associated

with

implementing

changes

to

its

portfolio

of

investments.

Tracking

error

risk

may

be

heightened

during

times

of

market

volatility

or

other

unusual

market

conditions.

The

Underlying

ETF

will

be

negatively

affected

by

general

declines

in

the

securities

and

asset

classes

represented

in

the

Underlying

ETF's

Index.

Underlying

ETF

Risk

—

The

value

of

an

investment

in

the

Fund

will

be

related,

to

a

degree,

to

the

investment

performance

of

the

Underlying

ETF.

Therefore,

the

principal

risks

of

investing

in

the

Fund

are

closely

related

to

the

principal

risks

associated

with

the

Underlying

ETF

and

its

investments.

Exposure

to

the

Underlying

ETF

will

also

expose

the

Fund

to

a

pro

rata

portion

of

the

Underlying

ETF's

fees

and

expenses.

The

performance

of

the

Fund

(without

regard

to

the

Buffer,

Deep

Downside

Protection,

or

Cap)

may

diverge

from

that

of

the

Underlying

ETF

for

a

number

of

reasons,

including

Fund

fees

and

expenses.

#### NOTES

#### TO

#### THE

#### SCHEDULE

#### OF

#### INVESTMENTS
(continued)

## 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 U.S. Large Cap Buffer 1 ETF

- **b. EDGAR series identifier (if any):** S000088426

- **c. LEI of Series:** 984500D5D0F4CFJ10B58

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

- **a. Date of fiscal year-end:** 2025-08-31

- **b. Date as of which information is reported:** 2025-05-31

**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:** $6009284.95

**Total Liabilities:** $81862.10

**Net Assets:** $5927422.85

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000254693 | -5.40%               | -0.50%               | 4.22%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $-312826.78                                |
| Month 2  | $-3258.64                | $-45125.36                                 |
| Month 3  | $0.00                    | $356832.00                                 |

**Designated Index Information**

- **Index Name:** S&P 500 (Total Return, Unhedged, USD)

- **Index Identifier:** SAEQ500DWP

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| MORGAN STANLEY & CO. LLC   | INVESCO QQQ TRUST SERIES 1 | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |      -864 | NC      | $-73963.49    | -1.25%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC   | INVESCO QQQ TRUST SERIES 1 | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |       864 | NC      | $1658.11      | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC   | INVESCO QQQ TRUST SERIES 1 | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |      -864 | NC      | $-5419.15     | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC   | INVESCO QQQ TRUST SERIES 1 | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |       864 | NC      | $17511.07     | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| SPDR Portfolio S&P 500 ETF | SPDR Portfolio S&P 500 ETF | CUSIP: 78464A854<br>LEI: 5493004K4F0RL72RIJ47 | Long             | EC               | RF                | US        |     86400 | NS      | $5990112.00   | 101.06%           |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-22

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

**Signature:** Peter Fortner

**Name of Signer:** Peter Fortner

**Title:** Vice President Assistant Treasurer