# EDGAR Filing Document

**Accession Number:** 0000822977
**File Stem:** 0000940400-26-022141
**Filing Date:** 2026-5
**Character Count:** 167522
**Document Hash:** 0c368aab73b24f95669629790628e5d2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-022141.hdr.sgml**: 20260529

**ACCESSION NUMBER**: 0000940400-26-022141

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260529

**DATE AS OF CHANGE**: 20260529

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GOLDMAN SACHS TRUST
- **CENTRAL INDEX KEY:** 0000822977

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05349
- **FILM NUMBER:** 261043407

**BUSINESS ADDRESS:**
- **STREET 1:** 71  SOUTH WACKER DRIVE
- **STREET 2:** C/O GOLDMAN SACHS & CO
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** 3126554400

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GOLDMAN SACHS SHORT INTERMEDIATE GOVERNMENT FUND
- **DATE OF NAME CHANGE:** 19910711

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SHORT INTERMEDIATE GOVERNMENT FUND
- **DATE OF NAME CHANGE:** 19900104

## Series and Classes Contracts Data

### Goldman Sachs International Tax-Managed Equity Fund (Series ID: S000018298)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000050443 | Institutional   | GHTMX           |
| C000050444 | Class A         | GATMX           |
| C000050445 | Class C         | GCTMX           |
| C000091965 | Investor Shares | GITRX           |
| C000200308 | Class R6 Shares | GHTRX           |
| C000201771 | Class P Shares  | GGCPX           |

## Nport-Ex

Goldman

Sachs

International

Tax-Managed

Equity

Fund

Schedule

of

Investments

March

31,

2026

(Unaudited)

#### Shares

#### Description

#### Value
a

#### Common

#### Stocks

#### –

#### 97.4%

#### Australia

#### –

#### 7.8%
205,636

ANZ

Group

Holdings

Ltd.

(Banks)

$

5,170,770

17,000

Charter

Hall

Group

REIT

(Equity

Real

Estate

Investment

Trusts

(REITs))

221,519

43,073

Codan

Ltd.

(Technology

Hardware

&

Equipment)

948,032

37,040

Commonwealth

Bank

of

Australia

(Banks)

4,337,638

770,166

Evolution

Mining

Ltd.

(Materials)

6,935,124

38,731

Fortescue

Ltd.

(Materials)

553,451

1,118,151

Glencore

PLC

(Materials)\*

8,468,737

517,876

Insurance

Australia

Group

Ltd.

(Insurance)

2,622,645

27,075

Macquarie

Group

Ltd.

(Financial

Services)

3,846,190

269,305

Metals

X

Ltd.

(Materials)\*

242,110

5,337

Mineral

Resources

Ltd.

(Materials)\*

205,010

5,541

Monadelphous

Group

Ltd.

(Capital

Goods)

106,132

177,512

National

Australia

Bank

Ltd.

(Banks)

5,134,655

451,717

Northern

Star

Resources

Ltd.

(Materials)

6,566,519

35,227

Perseus

Mining

Ltd.

(Materials)

129,062

815,447

Qantas

Airways

Ltd.

(Transportation)

4,790,142

18,614

QBE

Insurance

Group

Ltd.

(Insurance)

274,682

331,854

Regis

Resources

Ltd.

(Materials)

1,572,915

515,220

Resolute

Mining

Ltd.

(Materials)\*

509,467

114,739

Rio

Tinto

Ltd.

(Materials)

13,035,914

311,210

Santos

Ltd.

(Energy)

1,703,422

133,090

Superloop

Ltd.

(Telecommunication

Services)\*

301,803

129,881

Telstra

Group

Ltd.

(Telecommunication

Services)

479,470

115,361

Wesfarmers

Ltd.

(Consumer

Discretionary

Distribution

&

Retail)

5,889,870

190,084

Westpac

Banking

Corp.

(Banks)

5,253,024

8,455

Woodside

Energy

Group

Ltd.

(Energy)

200,701

79,499,004

#### Austria

#### –

#### 0.6%
45,409

Erste

Group

Bank

AG

(Banks)

4,905,324

6,596

OMV

AG

(Energy)

482,564

2,486

Strabag

SE

(Capital

Goods)

246,083

3,694

Vienna

Insurance

Group

AG

Wiener

Versicherung

Gruppe

(Insurance)

262,476

5,896,447

#### Shares

#### Description

#### Value
a

#### Common

#### Stocks

#### –
(continued)

#### Belgium

#### –

#### 1.0%
28,887

UCB

SA

(Pharmaceuticals,

Biotechnology

&

Life

Sciences)

$

8,703,566

87,054

Umicore

SA

(Materials)

1,660,793

10,364,359

#### China

#### –

#### 0.4%
80,777

Prosus

NV

(Consumer

Discretionary

Distribution

&

Retail)\*

3,739,620

#### Denmark

#### –

#### 1.7%
93,745

Danske

Bank

A/S

(Banks)

4,619,996

15,083

Pandora

A/S

(Consumer

Durables

&

Apparel)

1,078,041

385,094

Vestas

Wind

Systems

A/S

(Capital

Goods)

11,618,649

17,316,686

#### Finland

#### –

#### 1.8%
564,728

Nordea

Bank

Abp

(Banks)

9,724,151

237,696

Wartsila

OYJ

Abp

(Capital

Goods)

8,853,706

18,577,857

#### France

#### –

#### 10.4%
55,013

Air

Liquide

SA

(Materials)

11,371,114

8,072

Airbus

SE

(Capital

Goods)

1,526,198

255,979

AXA

SA

(Insurance)

11,762,644

49,606

Capgemini

SE

(Software

&

Services)

5,853,437

64,671

Cie

de

Saint-Gobain

SA

(Capital

Goods)

5,354,403

14,903

Covivio

SA

REIT

(Equity

Real

Estate

Investment

Trusts

(REITs))

890,655

110,462

Danone

SA

(Food,

Beverage

&

Tobacco)

8,826,709

12,738

Dassault

Aviation

SA

(Capital

Goods)

4,741,122

413,504

Engie

SA

(Utilities)

13,326,192

29,103

Etablissements

Maurel

et

Prom

SA

(Energy)

358,984

7,067

Gaztransport

Et

Technigaz

SA

(Energy)

1,662,115

4,468

Hermes

International

SCA

(Consumer

Durables

&

Apparel)

8,463,970

25,040

Klepierre

SA

REIT

(Equity

Real

Estate

Investment

Trusts

(REITs))

940,057

9,703

Legrand

SA

(Capital

Goods)

1,507,407

43,110

Safran

SA

(Capital

Goods)

14,106,867

31,317

Thales

SA

(Capital

Goods)

9,183,566

66,998

TotalEnergies

SE

(Energy)

6,095,478

3,672

Vicat

SACA

(Materials)

268,023

2,165

Viridien

(Energy)\*

341,342

106,580,283

#### Georgia

#### –

#### 0.1%
20,345

TBC

Bank

Group

PLC

(Banks)

1,110,761

Goldman

Sachs

International

Tax-Managed

Equity

Fund

Schedule

of

Investments

(continued)

March

31,

2026

(Unaudited)

#### Shares

#### Description

#### Value
a

#### Common

#### Stocks

#### –
(continued)

#### Germany

#### –

#### 7.5%
21,247

AIXTRON

SE

(Semiconductors

&

Semiconductor

Equipment)

$

829,068

160,746

BASF

SE

(Materials)

9,900,420

13,929

Beiersdorf

AG

(Household

&

Personal

Products)

1,252,042

46,957

Deutsche

Bank

AG

(Financial

Services)

1,397,445

15,267

Deutsche

Boerse

AG

(Financial

Services)

4,472,401

291,780

E.ON

SE

(Utilities)

6,390,415

10,971

Fresenius

Medical

Care

AG

(Health

Care

Equipment

&

Services)

497,179

157,859

Fresenius

SE

&

Co.

KGaA

(Health

Care

Equipment

&

Services)

8,192,219

36,074

GEA

Group

AG

(Capital

Goods)

2,587,147

18,518

Hannover

Rueck

SE

(Insurance)

5,822,082

994

Hapag-Lloyd

AG

(Transportation)

(a) 140,784

122,082

Infineon

Technologies

AG

(Semiconductors

&

Semiconductor

Equipment)

5,538,393

26,851

Knorr-Bremse

AG

(Capital

Goods)

3,067,777

17,724

Muenchener

Rueckversicherungs-

Gesellschaft

AG

in

Muenchen

(Insurance)

11,193,447

19,985

Nordex

SE

(Capital

Goods)\*

1,083,037

596

Rheinmetall

AG

(Capital

Goods)

1,005,325

34,543

SAP

SE

(Software

&

Services)

5,888,986

8,646

Scout24

SE

(Media

&

Entertainment)

(a) 667,112

16,122

Siemens

Energy

AG

(Capital

Goods)

2,780,234

153,826

Zalando

SE

(Consumer

Discretionary

Distribution

&

Retail)\*

(a) 3,758,086

76,463,599

#### Hong

#### Kong

#### –

#### 2.5%
95,600

AIA

Group

Ltd.

(Insurance)

1,062,243

605,600

Bank

of

East

Asia

Ltd.

(The)

(Banks)

1,009,436

1,248,400

Dah

Sing

Banking

Group

Ltd.

(Banks)

1,948,317

213,200

Dah

Sing

Financial

Holdings

Ltd.

(Banks)

1,106,494

186,600

Hong

Kong

Exchanges

&

Clearing

Ltd.

(Financial

Services)

9,413,596

48,000

Sun

Hung

Kai

Properties

Ltd.

(Real

Estate

Management

&

Development)

799,240

#### Shares

#### Description

#### Value
a

#### Common

#### Stocks

#### –
(continued)

#### Hong

#### Kong

#### –
(continued)

8,205,000

WH

Group

Ltd.

(Food,

Beverage

&

Tobacco)

(a) $

10,736,023

26,075,349

#### Israel

#### –

#### 0.1%
18,055

Bank

Hapoalim

BM

(Banks)

424,022

617

Elbit

Systems

Ltd.

(Capital

Goods)

520,200

3,745

Mizrahi

Tefahot

Bank

Ltd.

(Banks)

273,672

Nova

Ltd.

(Semiconductors

&

Semiconductor

Equipment)\*

108,635

1,326,529

#### Italy

#### –

#### 3.3%
4,870

Banca

Generali

SpA

(Financial

Services)

290,621

88,201

Banca

Mediolanum

SpA

(Financial

Services)

1,787,060

292,892

Banca

Monte

dei

Paschi

di

Siena

SpA

(Banks)

2,555,640

316,300

Banco

BPM

SpA

(Banks)

4,399,891

67,251

Banco

di

Desio

e

della

Brianza

SpA

(Banks)

676,224

47,204

BPER

Banca

SpA

(Banks)

618,619

60,234

Coca-Cola

HBC

AG

(Food,

Beverage

&

Tobacco)\*

3,392,934

12,346

Credito

Emiliano

SpA

(Banks)

209,227

310,570

FinecoBank

Banca

Fineco

SpA

(Banks)

6,909,793

7,559

Leonardo

SpA

(Capital

Goods)

514,160

228,193

Pirelli

&

C

SpA

(Automobiles

&

Components)

(a) 1,578,973

48,132

Technogym

SpA

(Consumer

Durables

&

Apparel)

(a) 972,248

137,747

UniCredit

SpA

(Banks)

9,882,502

33,787,892

#### Ivory

#### Coast

#### –

#### 0.1%
20,991

Endeavour

Mining

PLC

(Materials)

1,264,704

#### Japan

#### –

#### 22.8%
49,200

Advantest

Corp.

(Semiconductors

&

Semiconductor

Equipment)

6,789,928

107,300

AGC,

Inc.

(Capital

Goods)

3,801,373

36,600

Asia

Pile

Holdings

Corp.

(Materials)

325,439

513,300

Astellas

Pharma,

Inc.

(Pharmaceuticals,

Biotechnology

&

Life

Sciences)

8,367,722

15,800

Awa

Bank

Ltd.

(The)

(Banks)

583,958

114,800

Central

Japan

Railway

Co.

(Transportation)

2,984,937

26,800

Chudenko

Corp.

(Capital

Goods)

786,480

119,000

Chugin

Financial

Group,

Inc.

(Banks)

2,145,625

27,100

Credit

Saison

Co.

Ltd.

(Financial

Services)

708,384

Goldman

Sachs

International

Tax-Managed

Equity

Fund

Schedule

of

Investments

(continued)

March

31,

2026

(Unaudited)

#### Shares

#### Description

#### Value
a

#### Common

#### Stocks

#### –
(continued)

#### Japan

#### –
(continued)

20,200

Daido

Metal

Co.

Ltd.

(Automobiles

&

Components)

$

113,217

292,800

Daiichi

Life

Group,

Inc.

(Insurance)

2,700,200

393,600

Daiwa

Securities

Group,

Inc.

(Financial

Services)

3,729,514

207,900

Electric

Power

Development

Co.

Ltd.

(Utilities)

5,725,792

1,033,300

ENEOS

Holdings,

Inc.

(Energy)

9,310,172

76,100

EXEO

Group,

Inc.

(Capital

Goods)

1,308,060

122,900

Fuji

Electric

Co.

Ltd.

(Capital

Goods)

8,609,400

9,500

Fujita

Kanko,

Inc.

(Consumer

Services)

124,219

36,600

Fukuoka

Financial

Group,

Inc.

(Banks)

1,401,618

33,000

Hitachi

Construction

Machinery

Co.

Ltd.

(Capital

Goods)

1,133,128

4,400

Hokuhoku

Financial

Group,

Inc.

(Banks)

166,901

461,800

Isuzu

Motors

Ltd.

(Automobiles

&

Components)

6,650,275

55,300

Iyogin

Holdings,

Inc.

(Banks)

1,021,673

8,900

Japan

Post

Bank

Co.

Ltd.

(Banks)

145,161

246,300

Japan

Tobacco,

Inc.

(Food,

Beverage

&

Tobacco)

9,449,021

135,400

JX

Advanced

Metals

Corp.

(Materials)

3,000,979

40,100

Kansai

Electric

Power

Co.,

Inc.

(The)

(Utilities)

666,706

31,300

Kinden

Corp.

(Capital

Goods)

1,408,140

33,900

Konami

Group

Corp.

(Media

&

Entertainment)

4,177,435

5,800

Kurabo

Industries

Ltd.

(Consumer

Durables

&

Apparel)

311,690

51,700

Kyodo

Printing

Co.

Ltd.

(Commercial

&

Professional

Services)

526,272

9,800

Kyushu

Electric

Power

Co.,

Inc.

(Utilities)

113,597

900

Lasertec

Corp.

(Semiconductors

&

Semiconductor

Equipment)

200,316

350,000

Mitsubishi

Corp.

(Capital

Goods)

12,007,089

301,400

Mitsubishi

Electric

Corp.

(Capital

Goods)

9,857,918

429,100

Mitsubishi

HC

Capital,

Inc.

(Financial

Services)

3,850,343

82,800

Mitsui

E&S

Co.

Ltd.

(Capital

Goods)

3,031,680

31,500

Mitsui

Fudosan

Co.

Ltd.

(Real

Estate

Management

&

Development)

335,804

29,600

Mizuho

Financial

Group,

Inc.

(Banks)

1,198,319

412,200

MS&AD

Insurance

Group

Holdings,

Inc.

(Insurance)

10,756,597

#### Shares

#### Description

#### Value
a

#### Common

#### Stocks

#### –
(continued)

#### Japan

#### –
(continued)

377,000

Murata

Manufacturing

Co.

Ltd.

(Technology

Hardware

&

Equipment)

$

8,458,835

12,000

Musashino

Bank

Ltd.

(The)

(Banks)

161,136

8,800

Namura

Shipbuilding

Co.

Ltd.

(Capital

Goods)

244,070

27,500

NEC

Corp.

(Software

&

Services)

684,285

319,500

NGK

Corp.

(Capital

Goods)

8,234,358

9,900

Nippon

Electric

Glass

Co.

Ltd.

(Technology

Hardware

&

Equipment)

381,027

5,400

Nippon

Shinyaku

Co.

Ltd.

(Pharmaceuticals,

Biotechnology

&

Life

Sciences)

177,642

76,300

Nippon

Thompson

Co.

Ltd.

(Capital

Goods)

423,749

7,200

Nitto

Kogyo

Corp.

(Capital

Goods)

195,174

56,100

Nojima

Corp.

(Consumer

Discretionary

Distribution

&

Retail)

388,925

38,000

NOK

Corp.

(Automobiles

&

Components)

688,605

650,500

Nomura

Holdings,

Inc.

(Financial

Services)

5,122,062

17,600

Noritsu

Koki

Co.

Ltd.

(Consumer

Durables

&

Apparel)

228,564

33,800

North

Pacific

Bank

Ltd.

(Banks)

205,986

134,400

NSK

Ltd.

(Capital

Goods)

952,426

286,600

Obayashi

Corp.

(Capital

Goods)

6,941,586

39,800

Procrea

Holdings,

Inc.

(Banks)

797,027

510,400

Renesas

Electronics

Corp.

(Semiconductors

&

Semiconductor

Equipment)

7,297,307

21,600

Resorttrust,

Inc.

(Consumer

Services)

237,401

18,000

San

ju

San

Financial

Group,

Inc.

(Banks)

167,368

10,900

San-In

Godo

Bank

Ltd.

(The)

(Banks)

122,646

124,400

Santen

Pharmaceutical

Co.

Ltd.

(Pharmaceuticals,

Biotechnology

&

Life

Sciences)

1,399,554

24,600

Seiko

Epson

Corp.

(Technology

Hardware

&

Equipment)

304,135

13,800

Shikoku

Bank

Ltd.

(The)

(Banks)

201,177

14,500

Shinmaywa

Industries

Ltd.

(Capital

Goods)

217,012

163,500

Shizuoka

Financial

Group,

Inc.

(Banks)

2,714,846

78,000

SoftBank

Group

Corp.

(Telecommunication

Services)

1,899,281

100,900

Sompo

Holdings,

Inc.

(Insurance)

3,927,860

Goldman

Sachs

International

Tax-Managed

Equity

Fund

Schedule

of

Investments

(continued)

March

31,

2026

(Unaudited)

#### Shares

#### Description

#### Value
a

#### Common

#### Stocks

#### –
(continued)

#### Japan

#### –
(continued)

36,300

Sumitomo

Corp.

(Capital

Goods)

$

1,358,312

192,500

Sumitomo

Electric

Industries

Ltd.

(Automobiles

&

Components)

10,937,867

24,700

Sumitomo

Heavy

Industries

Ltd.

(Capital

Goods)

755,424

174,500

Sumitomo

Mitsui

Financial

Group,

Inc.

(Banks)

5,737,617

153,100

Sumitomo

Mitsui

Trust

Group,

Inc.

(Banks)

4,877,252

17,800

Suzuki

Co.

Ltd.

(Technology

Hardware

&

Equipment)

307,247

4,600

Taisei

Corp.

(Capital

Goods)

476,568

5,400

Taiyo

Yuden

Co.

Ltd.

(Technology

Hardware

&

Equipment)

133,168

268,400

Takeda

Pharmaceutical

Co.

Ltd.

(Pharmaceuticals,

Biotechnology

&

Life

Sciences)

9,884,607

81,600

Tamura

Corp.

(Technology

Hardware

&

Equipment)

318,314

565,700

TDK

Corp.

(Technology

Hardware

&

Equipment)

7,348,599

10,600

Toa

Corp.

(Capital

Goods)

211,808

17,200

Toda

Corp.

(Capital

Goods)

159,920

9,700

Toenec

Corp.

(Capital

Goods)

125,173

21,300

Tokio

Marine

Holdings,

Inc.

(Insurance)

999,843

22,600

TPR

Co.

Ltd.

(Automobiles

&

Components)

179,504

13,300

Tsugami

Corp.

(Capital

Goods)

277,009

14,000

Tsukishima

Holdings

Co.

Ltd.

(Capital

Goods)

242,345

86,400

Tsuruha

Holdings,

Inc.

(Consumer

Staples

Distribution

&

Retail)

1,350,400

21,200

Unitika

Ltd.

(Consumer

Durables

&

Apparel)\*

159,146

14,800

Yahagi

Construction

Co.

Ltd.

(Capital

Goods)

197,568

125,700

Yamaha

Corp.

(Consumer

Durables

&

Apparel)

889,903

68,100

Yokogawa

Electric

Corp.

(Technology

Hardware

&

Equipment)

2,104,546

246,300

Yokohama

Financial

Group,

Inc.

(Banks)

2,198,522

233,529,788

#### Luxembourg

#### –

#### 0.2%
27,624

Eurofins

Scientific

SE

(Pharmaceuticals,

Biotechnology

&

Life

Sciences)

2,015,698

#### Netherlands

#### –

#### 4.4%
7,761

ASM

International

NV

(Semiconductors

&

Semiconductor

Equipment)

5,882,476

#### Shares

#### Description

#### Value
a

#### Common

#### Stocks

#### –
(continued)

#### Netherlands

#### –
(continued)

16,744

ASML

Holding

NV

(Semiconductors

&

Semiconductor

Equipment)

$

22,265,463

17,017

ForFarmers

NV

(Food,

Beverage

&

Tobacco)

123,325

172,796

Koninklijke

Ahold

Delhaize

NV

(Consumer

Staples

Distribution

&

Retail)

8,046,977

34,443

SBM

Offshore

NV

(Energy)

1,373,512

93,687

Wolters

Kluwer

NV

(Commercial

&

Professional

Services)

6,997,324

44,689,077

#### New

#### Zealand

#### –

#### 0.2%
65,573

Channel

Infrastructure

NZ

Ltd.

(Energy)

109,276

74,222

Fisher

&

Paykel

Healthcare

Corp.

Ltd.

(Health

Care

Equipment

&

Services)

1,609,392

1,718,668

#### Nigeria

#### –

#### 0.1%
285,297

Airtel

Africa

PLC

(Telecommunication

Services)

(a) 1,315,602

#### Norway

#### –

#### 1.9%
12,277

BLUENORD

ASA

(Energy)\*

717,500

26,429

Deep

Value

Driller

AS

(Energy)

58,438

64,553

DNB

Bank

ASA

(Banks)

2,019,777

21,556

DOF

Group

ASA

(Energy)

310,456

241,468

Kongsberg

Gruppen

ASA

(Capital

Goods)

10,292,982

69,068

Odfjell

Drilling

Ltd.

(Energy)

723,531

255,191

Orkla

ASA

(Food,

Beverage

&

Tobacco)

3,211,485

43,875

Sea1

offshore,

Inc.

(Energy)\*

159,052

421,892

Var

Energi

ASA

(Energy)

2,172,014

19,665,235

#### Portugal

#### –

#### 0.0%
28,929

REN

-

Redes

Energeticas

Nacionais

SGPS

SA

(Utilities)

124,889

#### Singapore

#### –

#### 1.2%
37,600

Oversea-Chinese

Banking

Corp.

Ltd.

(Banks)

644,004

380,800

Singapore

Exchange

Ltd.

(Financial

Services)

5,809,156

29,800

Singapore

Technologies

Engineering

Ltd.

(Capital

Goods)

252,920

904,900

Singapore

Telecommunications

Ltd.

(Telecommunication

Services)

3,476,865

77,400

United

Overseas

Bank

Ltd.

(Banks)

2,215,634

12,398,579

Goldman

Sachs

International

Tax-Managed

Equity

Fund

Schedule

of

Investments

(continued)

March

31,

2026

(Unaudited)

#### Shares

#### Description

#### Value
a

#### Common

#### Stocks

#### –
(continued)

#### Spain

#### –

#### 1.0%
22,628

Aena

SME

SA

(Transportation)

(a) $

667,465

28,404

Banco

Bilbao

Vizcaya

Argentaria

SA

(Banks)

613,515

200,532

Cellnex

Telecom

SA

(Telecommunication

Services)\*

(a) 6,448,058

10,120

Distribuidora

Internacional

de

Alimentacion

SA

(Consumer

Staples

Distribution

&

Retail)\*

473,824

12,215

Industria

de

Diseno

Textil

SA

(Consumer

Discretionary

Distribution

&

Retail)

711,021

23,211

Redeia

Corp.

SA

(Utilities)

393,435

15,595

Repsol

SA

(Energy)

438,976

112,627

Unicaja

Banco

SA

(Banks)

(a) 334,248

10,080,542

#### Sweden

#### –

#### 3.5%
157,378

Boliden

AB

(Materials)\*

8,250,047

42,385

Clas

Ohlson

AB,

Class

B

(Consumer

Discretionary

Distribution

&

Retail)

1,674,818

41,465

Dometic

Group

AB

(Automobiles

&

Components)

(a) 114,709

12,205

Mycronic

AB

(Technology

Hardware

&

Equipment)

286,825

228,237

Sandvik

AB

(Capital

Goods)

8,773,853

492,415

Svenska

Handelsbanken

AB,

Class

A

(Banks)

6,491,863

24,300

Swedbank

AB,

Class

A

(Banks)

828,230

57,058

Tele2

AB,

Class

B

(Telecommunication

Services)

1,180,957

734,463

Telefonaktiebolaget

LM

Ericsson,

Class

B

(Technology

Hardware

&

Equipment)

8,373,051

35,974,353

#### Switzerland

#### –

#### 4.5%
184,657

ABB

Ltd.

(Capital

Goods)

15,014,085

24,347

Avolta

AG

(Consumer

Discretionary

Distribution

&

Retail)\*

1,459,758

6,265

Cembra

Money

Bank

AG

(Financial

Services)

775,112

60,779

Cie

Financiere

Richemont

SA

(Consumer

Durables

&

Apparel)

10,731,513

LEM

Holding

SA

(Technology

Hardware

&

Equipment)\*

175,819

9,737

Lonza

Group

AG

(Pharmaceuticals,

Biotechnology

&

Life

Sciences)

6,246,467

1,231

Partners

Group

Holding

AG

(Financial

Services)

1,326,822

8,643

PSP

Swiss

Property

AG

(Real

Estate

Management

&

Development)

1,716,069

6,471

Schindler

Holding

AG

Participation

Certificates

(Capital

Goods)

2,131,501

#### Shares

#### Description

#### Value
a

#### Common

#### Stocks

#### –
(continued)

#### Switzerland

#### –
(continued)

177,680

UBS

Group

AG

(Financial

Services)

$

6,928,347

46,505,493

#### United

#### Kingdom

#### –

#### 11.0%
47,485

Admiral

Group

PLC

(Insurance)

1,986,097

861

AstraZeneca

PLC

(Pharmaceuticals,

Biotechnology

&

Life

Sciences)

169,806

122,541

AstraZeneca

PLC

(Pharmaceuticals,

Biotechnology

&

Life

Sciences)

23,961,675

322,135

Aviva

PLC

(Insurance)

2,585,260

31,712

Babcock

International

Group

PLC

(Capital

Goods)

492,317

370,013

BAE

Systems

PLC

(Capital

Goods)

10,848,232

17,229

Beazley

PLC

(Insurance)

291,108

229,296

Compass

Group

PLC

(Consumer

Services)

6,397,573

194,920

Currys

PLC

(Consumer

Discretionary

Distribution

&

Retail)

322,792

6,346

DCC

PLC

(Energy)

393,053

167,525

Halma

PLC

(Technology

Hardware

&

Equipment)

8,548,932

71,759

HSBC

Holdings

PLC

(Banks)

1,178,469

236,123

Imperial

Brands

PLC

(Food,

Beverage

&

Tobacco)

9,574,275

303,479

Kingfisher

PLC

(Consumer

Discretionary

Distribution

&

Retail)

1,153,930

6,782,525

Lloyds

Banking

Group

PLC

(Banks)

8,406,501

1,484,148

NatWest

Group

PLC

(Banks)

10,994,494

130,443

Smiths

Group

PLC

(Capital

Goods)

3,980,628

1,792,841

Tesco

PLC

(Consumer

Staples

Distribution

&

Retail)

11,268,066

61,036

TP

ICAP

Group

PLC

(Financial

Services)

221,189

6,086,686

Vodafone

Group

PLC

(Telecommunication

Services)

9,180,869

111,955,266

#### United

#### States

#### –

#### 9.3%
105,192

Alcon

AG

(Health

Care

Equipment

&

Services)

7,951,487

322,623

GSK

PLC

(Pharmaceuticals,

Biotechnology

&

Life

Sciences)

8,886,808

5,592

GSK

PLC

ADR

(Pharmaceuticals,

Biotechnology

&

Life

Sciences)

308,622

2,699

InterContinental

Hotels

Group

PLC

(Consumer

Services)

355,930

189,968

Nestle

SA

(Food,

Beverage

&

Tobacco)

18,634,161

151,755

Novartis

AG

(Pharmaceuticals,

Biotechnology

&

Life

Sciences)

23,293,548

Goldman

Sachs

International

Tax-Managed

Equity

Fund

Schedule

of

Investments

(continued)

March

31,

2026

(Unaudited)

#### Shares

#### Description

#### Value
a

#### Common

#### Stocks

#### –
(continued)

#### United

#### States

#### –
(continued)

9,633

Roche

Holding

AG

(Pharmaceuticals,

Biotechnology

&

Life

Sciences)

$

3,844,442

124,139

Sanofi

SA

(Pharmaceuticals,

Biotechnology

&

Life

Sciences)

11,988,091

243,461

Shell

PLC

(Energy)

11,384,518

291,107

Tenaris

SA

(Energy)

8,509,738

95,157,345

#### TOTAL

#### INVESTMENTS

#### –

#### 97.4%

#### (Cost

#### $703,584,400)
$

997,133,625

#### OTHER

#### ASSETS

#### IN

#### EXCESS

#### OF

#### LIABILITIES

#### –

#### 2.6%
26,535,018

#### NET

#### ASSETS

#### –

#### 100.0%
$

1,023,668,643

&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.

\*

Non-income

producing

security.

(a) Exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933. Investment

Abbreviations:

ADR

—

American

Depositary

Receipt

PLC

—

Public

Limited

Company

REIT

—

Real

Estate

Investment

Trust

#### Sector

#### Name

#### %

#### of

#### Market

#### Value
Financials

23.4 %

Industrials

20.1 Health

Care

12.8 Information

Technology

9.9 Consumer

Staples

8.6 Materials

7.5 Consumer

Discretionary

7.0 Energy

4.6 Communication

Services

2.9 Utilities

2.7 Real

Estate

0.5 #### TOTAL

#### INVESTMENTS
100.0%

Goldman

Sachs

International

Tax-Managed

Equity

Fund

Schedule

of

Investments

(continued)

March

31,

2026

(Unaudited)

#### Additional

#### Investment

#### Information

#### \*\*End

#### swaps

#### header\*\*

#### FUTURES

#### CONTRACTS
—

At

March

31,

2026,

the

Portfolio

had

the

following

futures

contracts:

#### Description

#### Number

#### of

#### Contracts

#### Expiration

#### Date

#### Notional

#### Amount

#### Unrealized

#### Appreciation/
(Depreciation)

Long

position

contracts:

EURO

STOXX

Index

06/19/26

$

8,256,821

$

(226,641)

FTSE

Index

06/19/26

2,969,868

(32,296)

Hang

Seng

Index

04/29/26

631,409

(11,028)

MSCI

Singapore

Index

04/29/26

237,707

1,119

SPI

Index

06/19/26

1,174,709

(19,607)

TOPIX

Index

06/12/26

3,974,166

(13,640)

#### Total

#### Futures

#### Contracts
$

(302,093)

Goldman

Sachs

U.S.

Tax-Managed

Equity

Fund

Schedule

of

Investments

March

31,

2026

(Unaudited)

#### Shares

#### Description

#### Value

#### Common

#### Stocks

#### –

#### 98.5%

#### Aerospace

#### &

#### Defense

#### –

#### 3.8%
69,143

Carpenter

Technology

Corp.

$

27,252,713

3,982

Curtiss-Wright

Corp.

2,712,220

147,246

FTAI

Aviation

Ltd.

36,075,270

133,943

General

Electric

Co.

38,009,005

16,693

HEICO

Corp.,

Class

A

3,523,725

12,658

Hexcel

Corp.

1,024,412

22,441

Moog,

Inc.,

Class

A

6,567,134

225,390

RTX

Corp.

43,477,731

158,642,210

#### Automobile

#### Components

#### –

#### 0.5%
384,075

BorgWarner,

Inc.

20,839,910

105,477

Gentex

Corp.

2,304,672

23,144,582

#### Automobiles

#### –

#### 2.2%
97,923

General

Motors

Co.

7,295,264

227,282

Tesla,

Inc.\*

84,492,083

91,787,347

#### Banks

#### –

#### 2.7%
567,436

Bank

of

America

Corp.

27,662,505

243,688

Citigroup,

Inc.

27,636,656

224,931

Citizens

Financial

Group,

Inc.

13,489,112

76,523

Cullen/Frost

Bankers,

Inc.

10,489,773

60,509

FNB

Corp.

1,011,711

64,225

International

Bancshares

Corp.

4,321,700

46,096

JPMorgan

Chase &

Co.

13,559,599

18,162

PNC

Financial

Services

Group,

Inc.

(The)

3,779,331

116,464

Prosperity

Bancshares,

Inc.

7,824,052

70,718

Truist

Financial

Corp.

3,250,906

37,464

United

Community

Banks,

Inc.

1,179,741

114,205,086

#### Beverages

#### –

#### 0.9%
3,665

Boston

Beer

Co.,

Inc.

(The),

Class

A\*

844,416

492,764

Coca-Cola

Co.

(The)

37,474,702

38,319,118

#### Biotechnology

#### –

#### 3.5%
96,833

AbbVie,

Inc.

21,060,209

28,872

Alnylam

Pharmaceuticals,

Inc.\*

9,552,879

50,290

Denali

Therapeutics,

Inc.\*

965,568

279,109

Gilead

Sciences,

Inc.

38,899,421

231,704

Moderna,

Inc.\*

11,770,563

51,920

Regeneron

Pharmaceuticals,

Inc.

40,115,469

119,751

TG

Therapeutics,

Inc.\*

3,978,128

50,265

Vertex

Pharmaceuticals,

Inc.\*

22,445,333

148,787,570

#### Broadline

#### Retail

#### –

#### 3.3%
499,291

Amazon.com,

Inc.\*

103,987,337

5,605

MercadoLibre,

Inc.

(Brazil)\*

9,691,157

282,323

Ollie's

Bargain

Outlet

Holdings,

Inc.\*

25,985,009

139,663,503

#### Capital

#### Markets

#### –

#### 3.8%
41,035

Ameriprise

Financial,

Inc.

18,235,954

7,968

Bank

of

New

York

Mellon

Corp.

(The)

945,244

#### Shares

#### Description

#### Value

#### Common

#### Stocks

#### –
(continued)

#### Capital

#### Markets

#### –
(continued)

229,561

Brookfield

Asset

Management

Ltd.,

Class

A

(Canada)

$

10,203,986

179,279

CME

Group,

Inc.

52,950,053

Coinbase

Global,

Inc.,

Class

A\*

33,001

47,508

Interactive

Brokers

Group,

Inc.,

Class

A

3,186,362

1,154,438

Invesco

Ltd.

28,041,299

19,239

Jefferies

Financial

Group,

Inc.

793,994

27,146

MarketAxess

Holdings,

Inc.

4,478,547

23,216

Morgan

Stanley

3,820,657

189,278

Nasdaq,

Inc.

16,067,809

147,039

Northern

Trust

Corp.

20,522,233

159,279,139

#### Chemicals

#### –

#### 0.3%
71,307

Element

Solutions,

Inc.

2,434,421

319,319

Mosaic

Co.

(The)

8,142,634

10,577,055

#### Commercial

#### Services

#### &

#### Supplies

#### –

#### 1.7%
100,279

Clean

Harbors,

Inc.\*

28,752,998

255,227

Waste

Connections,

Inc.

41,459,074

70,212,072

#### Communications

#### Equipment

#### –

#### 1.6%
179,145

Arista

Networks,

Inc.\*

21,995,423

103,698

Motorola

Solutions,

Inc.

45,001,821

66,997,244

#### Construction

#### &

#### Engineering

#### –

#### 0.8%
10,335

Comfort

Systems

USA,

Inc.

14,251,862

59,807

MasTec,

Inc.\*

19,242,304

33,494,166

#### Construction

#### Materials

#### –

#### 0.5%
70,406

Amrize

Ltd.\*

3,944,144

20,785

Eagle

Materials,

Inc.

3,937,718

2,496

Martin

Marietta

Materials,

Inc.

1,469,346

35,514

Vulcan

Materials

Co.

9,670,462

19,021,670

#### Consumer

#### Finance

#### –

#### 1.6%
234,665

Capital

One

Financial

Corp.

42,809,936

121,058

OneMain

Holdings,

Inc.

6,475,392

388,075

SoFi

Technologies,

Inc.\*

6,162,631

196,276

Synchrony

Financial

13,350,694

68,798,653

#### Consumer

#### Staples

#### Distribution

#### &

#### Retail

#### –

#### 1.2%
20,729

Casey's

General

Stores,

Inc.

15,087,810

36,700

Costco

Wholesale

Corp.

36,568,981

51,656,791

#### Diversified

#### Consumer

#### Services

#### –

#### 0.3%

Graham

Holdings

Co.,

Class

B

419,732

10,601

Grand

Canyon

Education,

Inc.\*

1,802,488

228,428

Laureate

Education,

Inc.\*

7,958,432

20,826

Service

Corp.

International

1,718,353

11,899,005

#### Electric

#### Utilities

#### –

#### 0.2%
83,701

Xcel

Energy,

Inc.

6,649,207

Goldman

Sachs

U.S.

Tax-Managed

Equity

Fund

Schedule

of

Investments

(continued)

March

31,

2026

(Unaudited)

#### Shares

#### Description

#### Value

#### Common

#### Stocks

#### –
(continued)

#### Electrical

#### Equipment

#### –

#### 1.4%
195,946

AMETEK,

Inc.

$

42,002,985

32,308

Emerson

Electric

Co.

4,232,994

101,797

nVent

Electric

PLC

12,040,549

125,708

Sunrun,

Inc.\*

1,704,600

59,981,128

#### Electronic

#### Equipment,

#### Instruments

#### &

#### Components

#### –

#### 1.1%
88,471

Amphenol

Corp.,

Class

A

11,178,311

94,239

Keysight

Technologies,

Inc.\*

26,610,266

64,747

Knowles

Corp.\*

1,662,703

9,954

Sanmina

Corp.\*

1,290,437

2,989

Teledyne

Technologies,

Inc.\*

1,808,375

48,119

TTM

Technologies,

Inc.\*

4,687,753

Vontier

Corp.

47,237,880

#### Energy

#### Equipment

#### &

#### Services

#### –

#### 1.1%
288,855

NOV,

Inc.

5,433,363

187,764

Patterson-UTI

Energy,

Inc.

2,033,484

94,650

SLB

Ltd.

4,864,063

476,743

TechnipFMC

PLC

(United

Kingdom)

32,957,244

45,288,154

#### Entertainment

#### –

#### 0.0%
16,842

Roku,

Inc.\*

1,593,590

#### Financial

#### Services

#### –

#### 3.4%
80,497

Banco

Latinoamericano

de

Comercio

Exterior

SA,

Class

E

(Panama)

4,111,787

94,927

Berkshire

Hathaway,

Inc.,

Class

B\*

45,489,018

20,652

Corebridge

Financial,

Inc.

492,757

9,539

Corpay,

Inc.\*

2,775,754

343,958

Equitable

Holdings,

Inc.

12,764,281

135,480

Mastercard,

Inc.,

Class

A

67,693,937

53,766

MGIC

Investment

Corp.

1,411,358

151,165

Voya

Financial,

Inc.

10,327,593

145,066,485

#### Food

#### Products

#### –

#### 0.1%
39,591

Darling

Ingredients,

Inc.\*

2,448,703

#### Ground

#### Transportation

#### –

#### 0.3%
12,022

Norfolk

Southern

Corp.

3,450,314

43,995

Union

Pacific

Corp.

10,674,067

14,124,381

#### Health

#### Care

#### Equipment

#### &

#### Supplies

#### –

#### 1.5%
740,000

Boston

Scientific

Corp.\*

46,435,000

35,583

Enovis

Corp.\*

809,513

35,822

Intuitive

Surgical,

Inc.\*

16,513,584

50,549

QuidelOrtho

Corp.\*

830,520

64,588,617

#### Health

#### Care

#### Providers

#### &

#### Services

#### –

#### 3.0%
21,748

Cigna

Group

(The)

5,801,279

666,651

CVS

Health

Corp.

47,878,875

251,436

Encompass

Health

Corp.

24,321,404

62,587

HCA

Healthcare,

Inc.

29,618,672

19,477

Quest

Diagnostics,

Inc.

3,817,102

46,789

UnitedHealth

Group,

Inc.

12,660,636

#### Shares

#### Description

#### Value

#### Common

#### Stocks

#### –
(continued)

#### Health

#### Care

#### Providers

#### &

#### Services

#### –
(continued)

1,289

Universal

Health

Services,

Inc.,

Class

B

$

230,692

124,328,660

#### Health

#### Care

#### REITs

#### –

#### 0.1%
10,269

Omega

Healthcare

Investors,

Inc.

REIT

449,988

28,435

Ventas,

Inc.

REIT

2,325,414

1,463

Welltower,

Inc.

REIT

289,250

3,064,652

#### Hotels,

#### Restaurants

#### &

#### Leisure

#### –

#### 2.7%
49,485

Airbnb,

Inc.,

Class

A\*

6,248,966

673,317

Aramark

27,296,271

53,406

Brightstar

Lottery

PLC

680,392

5,285

Choice

Hotels

International,

Inc.

546,998

153,531

McDonald's

Corp.

47,715,899

154,892

Planet

Fitness,

Inc.,

Class

A\*

11,520,867

93,702

Starbucks

Corp.

8,394,762

148,185

Viking

Holdings

Ltd.\*

10,888,634

113,292,789

#### Household

#### Durables

#### –

#### 1.4%
231,824

D.R.

Horton,

Inc.

31,810,889

180,840

M/I

Homes,

Inc.\*

22,143,858

40,583

PulteGroup,

Inc.

4,772,967

58,727,714

#### Household

#### Products

#### –

#### 0.0%
8,185

Procter &

Gamble

Co.

(The)

1,182,241

#### Independent

#### Power

#### and

#### Renewable

#### Electricity

#### Producers

#### –

#### 0.0%
88,506

AES

Corp.

(The)

1,247,050

#### Industrial

#### Conglomerates

#### –

#### 0.7%
194,223

3M

Co.

28,207,006

#### Industrial

#### REITs

#### –

#### 0.3%
61,283

First

Industrial

Realty

Trust,

Inc.

REIT

3,545,222

65,403

Prologis,

Inc.

REIT

8,644,968

12,190,190

#### Insurance

#### –

#### 1.1%
35,396

American

Financial

Group,

Inc.

4,520,423

41,281

CNO

Financial

Group,

Inc.

1,694,998

27,562

Loews

Corp.

2,941,968

145,611

MetLife,

Inc.

10,297,610

6,559

Reinsurance

Group

of

America,

Inc.

1,339,085

65,766

Travelers

Cos.,

Inc.

(The)

19,182,627

97,709

W

R

Berkley

Corp.

6,476,153

46,452,864

#### Interactive

#### Media

#### &

#### Services

#### –

#### 7.8%
647,033

Alphabet,

Inc.,

Class

A

186,060,810

21,161

Alphabet,

Inc.,

Class

C

6,070,244

322,806

Match

Group,

Inc.

9,913,372

182,574

Meta

Platforms,

Inc.,

Class

A

104,456,063

170,338

Reddit,

Inc.,

Class

A\*

22,936,012

329,436,501

#### IT

#### Services

#### –

#### 0.5%
8,663

Gartner,

Inc.\*

1,371,700

Goldman

Sachs

U.S.

Tax-Managed

Equity

Fund

Schedule

of

Investments

(continued)

March

31,

2026

(Unaudited)

#### Shares

#### Description

#### Value

#### Common

#### Stocks

#### –
(continued)

#### IT

#### Services

#### –
(continued)

77,270

International

Business

Machines

Corp.

$

18,729,475

20,101,175

#### Leisure

#### Products

#### –

#### 0.1%
292,267

Mattel,

Inc.\*

4,246,640

#### Life

#### Sciences

#### Tools

#### &

#### Services

#### –

#### 1.5%
72,509

10X

Genomics,

Inc.,

Class

A\*

1,539,366

7,809

IQVIA

Holdings,

Inc.\*

1,331,747

34,200

Medpace

Holdings,

Inc.\*

16,422,498

36,418

Mettler-Toledo

International,

Inc.\*

45,930,382

65,223,993

#### Machinery

#### –

#### 2.4%
5,761

AGCO

Corp.

667,527

55,528

Caterpillar,

Inc.

39,339,367

Fortive

Corp.

157,161

Illinois

Tool

Works,

Inc.

40,907,437

151,534

Mueller

Industries,

Inc.

16,789,967

26,514

PACCAR,

Inc.

3,062,367

100,766,720

#### Marine

#### Transportation

#### –

#### 1.0%
320,804

Kirby

Corp.\*

42,628,436

122,068

Safe

Bulkers,

Inc.

(Monaco)

772,690

43,401,126

#### Media

#### –

#### 0.4%
6,588

Cable

One,

Inc.\*

600,892

3,439

Charter

Communications,

Inc.,

Class

A\*

742,411

538,116

News

Corp.,

Class

A

13,415,232

14,758,535

#### Metals

#### &

#### Mining

#### –

#### 2.3%
56,430

Anglogold

Ashanti

PLC

(Australia)

5,494,025

2,004,315

Hecla

Mining

Co.

37,340,389

69,161

Ivanhoe

Electric,

Inc.\*

817,483

307,319

Southern

Copper

Corp.

(Mexico)

52,877,307

96,529,204

#### Office

#### REITs

#### –

#### 0.0%

Vornado

Realty

Trust

REIT

#### Oil,

#### Gas

#### &

#### Consumable

#### Fuels

#### –

#### 3.0%
257,140

Antero

Resources

Corp.\*

10,913,022

580,749

APA

Corp.

24,646,988

10,830

Cheniere

Energy,

Inc.

3,073,121

12,570

Chevron

Corp.

2,600,733

203,259

ConocoPhillips

26,830,188

86,172

EOG

Resources,

Inc.

12,457,886

45,196

Exxon

Mobil

Corp.

7,667,953

39,699

Golar

LNG

Ltd.

(Cameroon)

2,148,113

984,997

Kinder

Morgan,

Inc.

33,026,949

14,840

Marathon

Petroleum

Corp.

3,623,631

149,086

Nordic

American

Tankers

Ltd.

873,644

127,862,228

#### Passenger

#### Airlines

#### –

#### 0.9%
51,757

Delta

Air

Lines,

Inc.

3,440,805

#### Shares

#### Description

#### Value

#### Common

#### Stocks

#### –
(continued)

#### Passenger

#### Airlines

#### –
(continued)

381,822

United

Airlines

Holdings,

Inc.\*

$

35,154,352

38,595,157

#### Pharmaceuticals

#### –

#### 3.3%
46,393

Eli

Lilly

&

Co.

42,670,889

389,680

Johnson &

Johnson

95,253,379

26,154

Merck &

Co.,

Inc.

3,146,065

141,070,333

#### Professional

#### Services

#### –

#### 0.0%
18,465

ExlService

Holdings,

Inc.\*

562,259

#### Residential

#### REITs

#### –

#### 1.8%

Apartment

Investment

and

Management

Co.,

Class

A

REIT

138,465

AvalonBay

Communities,

Inc.

REIT

22,618,258

122,526

Camden

Property

Trust

REIT

11,965,889

42,892

Equity

LifeStyle

Properties,

Inc.

REIT

2,677,319

1,435,132

Invitation

Homes,

Inc.

REIT

35,663,030

72,924,500

#### Retail

#### REITs

#### –

#### 0.0%

Simon

Property

Group,

Inc.

REIT

#### Semiconductors

#### &

#### Semiconductor

#### Equipment

#### –

#### 10.0%
397,353

Broadcom,

Inc.

122,984,727

20,665

Diodes,

Inc.\*

1,410,593

3,264

KLA

Corp.

4,805,946

49,590

Lam

Research

Corp.

10,595,399

58,972

Micron

Technology,

Inc.

19,923,101

1,422,645

NVIDIA

Corp.

248,109,288

65,396

Texas

Instruments,

Inc.

12,695,980

29,749

Universal

Display

Corp.

2,726,793

423,251,827

#### Software

#### –

#### 6.8%
33,320

Adobe,

Inc.\*

8,099,426

716,543

Bentley

Systems,

Inc.,

Class

B

25,164,990

59,719

Clear

Secure,

Inc.,

Class

A

2,890,997

44,064

Datadog,

Inc.,

Class

A\*

5,201,755

134,571

Fortinet,

Inc.\*

10,997,142

2,559

InterDigital,

Inc.

772,818

9,452

Manhattan

Associates,

Inc.\*

1,258,250

383,855

Microsoft

Corp.

142,091,605

271,159

Oracle

Corp.

39,890,201

210,735

Palantir

Technologies,

Inc.,

Class

A\*

30,826,316

99,695

ServiceNow,

Inc.\*

10,423,112

93,193

Zoom

Communications,

Inc.\*

7,491,785

285,108,397

#### Specialized

#### REITs

#### –

#### 0.0%
9,634

Lamar

Advertising

Co.,

Class

A

REIT

1,220,242

#### Specialty

#### Retail

#### –

#### 0.9%
87,970

AutoNation,

Inc.\*

17,177,022

21,458

Burlington

Stores,

Inc.\*

6,982,004

1,965

Carvana

Co.\*

617,757

55,432

Chewy,

Inc.,

Class

A\*

1,496,664

Goldman

Sachs

U.S.

Tax-Managed

Equity

Fund

Schedule

of

Investments

(continued)

March

31,

2026

(Unaudited)

#### Additional

#### Investment

#### Information

#### \*\*End

#### swaps

#### header\*\*

#### Shares

#### Description

#### Value

#### Common

#### Stocks

#### –
(continued)

#### Specialty

#### Retail

#### –
(continued)

170,659

Floor

&

Decor

Holdings,

Inc.,

Class

A\*

$

8,669,477

8,961

TJX

Cos.,

Inc.

(The)

1,431,072

77,934

Upbound

Group,

Inc.

1,406,709

Victoria's

Secret

&

Co.\*

37,780,751

#### Technology

#### Hardware,

#### Storage

#### &

#### Peripherals

#### –

#### 7.2%
997,972

Apple,

Inc.

253,275,314

219,128

Dell

Technologies,

Inc.,

Class

C

35,965,479

44,057

Eastman

Kodak

Co.\*

398,716

17,789

Sandisk

Corp.\*

11,302,063

7,415

Seagate

Technology

Holdings

PLC

2,904,900

303,846,472

#### Textiles,

#### Apparel

#### &

#### Luxury

#### Goods

#### –

#### 0.7%
137,737

Crocs,

Inc.\*

11,434,926

76,656

Figs,

Inc.,

Class

A\*

1,132,209

80,985

On

Holding

AG,

Class

A

(Switzerland)\*

2,755,109

31,116

Ralph

Lauren

Corp.

10,703,593

26,025,837

#### Trading

#### Companies

#### &

#### Distributors

#### –

#### 0.3%
5,515

United

Rentals,

Inc.

4,018,009

26,541

Watsco,

Inc.

9,655,350

13,673,359

#### Wireless

#### Telecommunication

#### Services

#### –

#### 0.5%
27,114

Telephone

and

Data

Systems,

Inc.

1,141,500

#### Shares

#### Description

#### Value

#### Common

#### Stocks

#### –
(continued)

#### Wireless

#### Telecommunication

#### Services

#### –
(continued)

88,805

T-Mobile

US,

Inc.

$

18,651,714

19,793,214

#### TOTAL

#### COMMON

#### STOCKS

#### (Cost

#### $2,741,952,765)
4,148,335,391

#### Shares

#### Dividend

#### Rate

#### Value
aa

#### Investment

#### Company

#### –

#### 0.0%
(a) Goldman

Sachs

Financial

Square

Government

Fund

-

Institutional

Shares

287,083

3.553%

287,083

(Cost

$287,083)

#### TOTAL

#### INVESTMENTS

#### –

#### 98.5%

#### (Cost

#### $2,742,239,848)
$

4,148,622,474

#### OTHER

#### ASSETS

#### IN

#### EXCESS

#### OF

#### LIABILITIES

#### –

#### 1.5%
63,057,340

#### NET

#### ASSETS

#### –

#### 100.0%
$

4,211,679,814

&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.

\*

Non-income

producing

security.

(a) Represents

an

affiliated

issuer.

Investment

Abbreviations:

PLC

—

Public

Limited

Company

REIT

—

Real

Estate

Investment

Trust

#### FUTURES

#### CONTRACTS
—

At

March

31,

2026,

the

Portfolio

had

the

following

futures

contracts:

#### Description

#### Number

#### of

#### Contracts

#### Expiration

#### Date

#### Notional

#### Amount

#### Unrealized

#### Appreciation/
(Depreciation)

Long

position

contracts:

Russell

2000

E-Mini

Index

06/18/26

$

4,019,520

$

(589) S&P

500

E-Mini

Index

06/18/26

40,738,650

615

#### Total

#### Futures

#### Contracts
$

Goldman

Sachs

Tax-Advantaged

Equity

Funds

Schedule

of

Investments

March

31,

2026

(Unaudited)

#### NOTES

#### TO

#### THE

#### SCHEDULE

#### OF

#### INVESTMENTS
Investment

Valuation

—

The

Funds'

valuation

policy

is

to

value

investments

at

fair

value.

Investments

and

Fair

Value

Measurements

—

U.S.

GAAP

defines

the

fair

value

of

a

financial

instrument

as

the

amount

that

would

be

received

to

sell

an

asset

or

paid

to

transfer

a

liability

in

an

orderly

transaction

between

market

participants

at

the

measurement

date

(i.e.,

the

exit

price);

the

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

("Valuation

Procedures"),

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

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.

A. 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

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. Securities

traded

on

certain

foreign

securities

exchanges

are

valued

daily

at

fair

value

determined

by

an

independent

fair

value

service

(if

available)

under

the

Valuation

Procedures

and

consistent

with

applicable

regulatory

guidance.

The

independent

fair

value

service

takes

into

account

multiple

factors

including,

but

not

limited

to,

movements

in

the

securities

markets,

certain

depositary

receipts,

futures

contracts

and

foreign

currency

exchange

rates

that

have

occurred

subsequent

to

the

close

of

the

foreign

securities

exchange.

These

investments

are

generally

classified

as

Level

of

the

fair

value

hierarchy.

Goldman

Sachs

Tax-Advantaged

Equity

Funds

Schedule

of

Investments

(continued)

March

31,

2026

(Unaudited)

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

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.

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

midpoint

of

the

bid

and

ask

prices

on

the

exchange

where

they

are

principally

traded

(or,

in

the

absence

of

two-way

trading,

at

the

last

bid

price

for

long

positions

and

the

last

ask

price

for

short

positions).

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. Futures

Contracts

—

Futures

contracts

are

contracts

to

buy

or

sell

a

standardized

quantity

of

a

specified

commodity

or

security.

Upon

entering

into

a

futures

contract,

a

Fund

deposits

cash

or

securities

in

an

account

on

behalf

of

the

broker

in

an

amount

sufficient

to

meet

the

initial

margin

requirement.

Subsequent

payments

are

made

or

received

by

a

Fund

equal

to

the

daily

change

in

the

contract

value

and

are

recorded

as

variation

margin

receivable

or

payable

with

a

corresponding

offset

to

unrealized

gains

or

losses.

B. 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

Tax-Advantaged

Equity

Funds

Schedule

of

Investments

(continued)

March

31,

2026

(Unaudited)

Fair

Value

Hierarchy

—

The

following

is

a

summary

of

the

Funds'

investments

and

derivatives

classified

in

the

fair

value

hierarchy

as

of

March

31,

2026:

For

further

information

regarding

security

characteristics,

see

the

Schedules

of

Investments.

(a) #### International

#### Tax-Managed

#### Equity

#### Fund

#### Investment

#### Type

#### Level

#### 1

#### Level

#### 2

#### Level

#### 3

#### Assets
Common

Stock

and/or

Other

Equity

Investments

(a) Africa

$

—

$

2,580,306

$

—

Asia

17,972,278

260,208,348

—

Europe

25,520,922

514,476,754

—

North

America

308,622

94,848,723

—

Oceania

2,731,921

78,485,751

—

#### Total
$

46,533,743

$

950,599,882

$

—

€

1.00 €

1.00 €

1.00 #### Derivative

#### Type

#### Assets
Futures

Contracts

(b) $

1,119

$

—

$

—

€

1.00 €

1.00 €

1.00 #### Liabilities
Futures

Contracts

(b) $

(303,212)

$

—

$

—

€

1.00 €

1.00 €

1.00 (a) #### U.S.

#### Tax-Managed

#### Equity

#### Fund

#### Investment

#### Type

#### Level

#### 1

#### Level

#### 2

#### Level

#### 3

#### Assets
Common

Stock

and/or

Other

Equity

Investments

(a) Africa

$

2,148,113

$

—

$

—

Europe

36,485,043

—

—

North

America

4,094,517,053

—

—

Oceania

5,494,025

—

—

South

America

9,691,157

—

—

Investment

Company

287,083

—

—

#### Total
$

4,148,622,474

$

—

$

—

€

1.00 €

1.00 €

1.00 #### Derivative

#### Type

#### Assets
Futures

Contracts

(b) $

615

$

—

$

—

€

1.00 €

1.00 €

1.00 #### Liabilities
Futures

Contracts

(b) $

(589) $

—

$

—

€

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.

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

classification.

(b) Amount

shown

represents

unrealized

gain

(loss)

at

period

end.

#### NOTES

#### TO

#### THE

#### SCHEDULE

#### OF

#### INVESTMENTS
(continued)

Goldman

Sachs

Tax-Advantaged

Equity

Funds

Schedule

of

Investments

(continued)

March

31,

2026

(Unaudited)

The

Funds'

risks

include,

but

are

not

limited

to,

the

following:

Foreign

Risk

—

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

the

Fund

invests.

The

imposition

of

sanctions,

exchange

controls

(including

repatriation

restrictions),

confiscations,

trade

restrictions

(including

tariffs)

and

other

government

restrictions

by

the

United

States

and

other

governments,

or

from

problems

in

share

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

the

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

the

Fund's

liquidity

and

performance.

Foreign

risk

also

involves

the

risk

of

negative

foreign

currency

rate

fluctuations,

which

may

cause

the

value

of

securities

denominated

in

such

foreign

currency

(or

other

instruments

through

which

the

Fund

has

exposure

to

foreign

currencies)

to

decline

in

value.

Currency

exchange

rates

may

fluctuate

significantly

over

short

periods

of

time.

Investment

Style

Risk

—

Different

investment

styles

(e.g.,

growth,

value

or

quantitative)

tend

to

shift

in

and

out

of

favor

depending

upon

market

and

economic

conditions

and

investor

sentiment.

The

Fund

may

outperform

or

underperform

other

funds

that

invest

in

similar

asset

classes

but

employ

different

investment

styles.

Large

Shareholder

Transactions

Risk—

A

Fund

may

experience

adverse

effects

when

certain

large

shareholders,

such

as

other

funds,

institutional

investors

(including

those

trading

by

use

of

non-discretionary

mathematical

formulas),

financial

intermediaries

(who

may

make

investment

decisions

on

behalf

of

underlying

clients

and/or

include

a

Fund

in

their

investment

model),

individuals,

accounts

and

Goldman

Sachs

affiliates,

purchase

or

redeem

large

amounts

of

shares

of

a

Fund.

Such

large

shareholder

redemptions,

which

may

occur

rapidly

or

unexpectedly,

may

cause

a

Fund

to

sell

portfolio

securities

at

times

when

it

would

not

otherwise

do

so,

which

may

negatively

impact

a

Fund's

NAV

and

liquidity.

These

transactions

may

also

accelerate

the

realization

of

taxable

income

to

shareholders

if

such

sales

of

investments

resulted

in

gains,

and

may

also

increase

transaction

costs.

In

addition,

a

large

redemption

could

result

in

a

Fund's

current

expenses

being

allocated

over

a

smaller

asset

base,

leading

to

an

increase

in

the

Fund's

expense

ratio.

Similarly,

large

Fund

share

purchases

may

adversely

affect

a

Fund's

performance

to

the

extent

that

the

Fund

is

delayed

in

investing

new

cash

or

otherwise

maintains

a

larger

cash

position

than

it

ordinarily

would.

Management

Risk

—

A

strategy

used

by

the

Investment

Adviser

may

fail

to

produce

the

intended

results..

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,

governments

or

countries

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

threats,

or

the

threat

or

potential

of

one

or

more

such

events

and

developments,

could

also

significantly

impact

the

Fund

and

its

investments.

Portfolio

Turnover

Rate

Risk

—

A

high

rate

of

portfolio

turnover

may

involve

correspondingly

greater

expenses

which

must

be

borne

by

the

Fund

and

its

shareholders,

and

is

also

likely

to

result

in

short-term

capital

gains

taxable

to

shareholders.

Stock

Risk

—

Stock

prices

have

historically

risen

and

fallen

in

periodic

cycles.

U.S.

and

foreign

stock

markets

have

experienced

periods

of

substantial

price

volatility

in

the

past

and

may

do

so

again

in

the

future.

#### NOTES

#### TO

#### THE

#### SCHEDULE

#### OF

#### INVESTMENTS
(continued)

Goldman

Sachs

Tax-Advantaged

Equity

Funds

Schedule

of

Investments

(continued)

March

31,

2026

(Unaudited)

Tax-Managed

Investment

Risk

—

Because

the

Investment

Adviser

balances

investment

considerations

and

tax

considerations,

the

pre-tax

performance

of

the

Goldman

Sachs

Tax-Advantaged

Global

Equity

Portfolio

may

be

lower

than

the

performance

of

similar

funds

that

are

not

tax-managed.

This

is

because

the

Investment

Adviser

may

choose

not

to

make

certain

investments

that

may

result

in

taxable

distributions

to

the

Goldman

Sachs

Tax-Advantaged

Global

Equity

Portfolio.

Even

though

tax

managed

strategies

are

being

used,

they

may

not

reduce

the

amount

of

taxable

income

and

capital

gains

distributed

by

the

Goldman

Sachs

Tax-Advantaged

Global

Equity

Portfolio

to

shareholders.

#### 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 Trust

- **b. Investment Company Act file number:** 811-05349

- **c. CIK number of Registrant:** 0000822977

- **d. LEI of Registrant:** S2FHCT8U6D2VORP0J605

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

  - **Street Address 1:** 71 South Wacker Drive

  - **City:** Chicago

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60606

  - **Telephone number:** 312-655-4400

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

- **a. Name of Series:** Goldman Sachs International Tax-Managed Equity Fund

- **b. EDGAR series identifier (if any):** S000018298

- **c. LEI of Series:** 3EPW4EQLX6NR7L382R49

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**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:** $1027620563.40

**Total Liabilities:** $3878675.45

**Net Assets:** $1023741887.95

**Cash Not Reported:** $17945811.45

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000200308 | 5.92%                | 6.84%                | -8.51%               |
| Class ID C000050444 | 5.90%                | 6.81%                | -8.53%               |
| Class ID C000201771 | 5.92%                | 6.83%                | -8.51%               |
| Class ID C000050443 | 5.94%                | 6.78%                | -8.50%               |
| Class ID C000091965 | 5.88%                | 6.78%                | -8.50%               |
| Class ID C000050445 | 5.80%                | 6.75%                | -8.59%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $31746978.29             | $27561841.02                               |
| Month 2  | $-650563.42              | $70429194.74                               |
| Month 3  | $-1974313.47             | $-96848387.23                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Konami Group Corp.                                   | Konami Group Corp. NPV                                        | CUSIP: 000000000<br>LEI: 353800FC4A5QCMIZFV94 | Long             | EC               | CORP              | JP        |     33900 | NS      | $4177434.64   | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Boliden AB                                           | Boliden AB NPV                                                | CUSIP: 000000000<br>LEI: 21380059QU7IM1ONDJ56 | Long             | EC               | CORP              | SE        |    157378 | NS      | $8250046.82   | 0.81%             |  |  |  | No            |                  2 | On Loan: No      |
| Mineral Resources Ltd.                               | Mineral Resources Ltd. NPV                                    | CUSIP: 000000000<br>LEI: 5299007V1ACKFFX2P066 | Long             | EC               | CORP              | AU        |      5337 | NS      | $205009.46    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Channel Infrastructure NZ Limited                    | Channel Infrastructure NZ Limited ORD NPV                     | CUSIP: 000000000<br>LEI: 984500A6695797B1E679 | Long             | EC               | CORP              | NZ        |     65573 | NS      | $109276.43    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Axa SA                                               | Axa SA EUR2.29                                                | CUSIP: 000000000<br>LEI: F5WCUMTUM4RKZ1MAIE39 | Long             | EC               | CORP              | FR        |    255979 | NS      | $11762644.00  | 1.15%             |  |  |  | No            |                  2 | On Loan: No      |
| SINGAPORE EXCHANGE LIMITED                           | MSCI Singapore Index Futures, April 2026                      | CUSIP: 000000000<br>LEI: 549300IQ650PPXM76X03 | N/A              | DE               | CORP              | SG        |         6 | NC      | $1176.59      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| RIO Tinto Limited                                    | RIO Tinto Limited NPV                                         | CUSIP: 000000000<br>LEI: 529900X2VMAQT2PE0V24 | Long             | EC               | CORP              | AU        |    114739 | NS      | $13035913.97  | 1.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Airbus SE                                            | Airbus SE EUR1                                                | CUSIP: 000000000<br>LEI: MINO79WLOO247M1IL051 | Long             | EC               | CORP              | NL        |      8072 | NS      | $1526198.18   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Infineon Technologies AG                             | Infineon Technologies AG ORD NPV (REGD)                       | CUSIP: 000000000<br>LEI: TSI2PJM6EPETEQ4X1U25 | Long             | EC               | CORP              | DE        |    122082 | NS      | $5538392.85   | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Siemens Energy AG                                    | Siemens Energy AG NPV                                         | CUSIP: 000000000<br>LEI: 5299005CHJZ14D4FDJ62 | Long             | EC               | CORP              | DE        |     16122 | NS      | $2780234.15   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Schindler Holding AG                                 | Schindler Holding AG CHF0.10 (PTG CERT)                       | CUSIP: 000000000<br>LEI: 5299007DRLI319H7Q933 | Long             | EP               | CORP              | CH        |      6471 | NS      | $2131501.30   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Compass Group PLC                                    | Compass Group PLC ORD GBP0.1105                               | CUSIP: 000000000<br>LEI: 2138008M6MH9OZ6U2T68 | Long             | EC               | CORP              | GB        |    229296 | NS      | $6397573.43   | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| AstraZeneca PLC                                      | AstraZeneca PLC ORD USD0.25                                   | CUSIP: 000000000<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |    122541 | NS      | $23961675.07  | 2.34%             |  |  |  | No            |                  2 | On Loan: No      |
| KURABO INDUSTRIES LTD                                | Kurabo Industries NPV                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      5800 | NS      | $311689.50    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Hapag-Lloyd AG                                       | Hapag-Lloyd AG NPV                                            | CUSIP: 000000000<br>LEI: HD52L5PJVBXJUUX8I539 | Long             | EC               | CORP              | DE        |       994 | NS      | $140784.19    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Hermes International                                 | Hermes International NPV                                      | CUSIP: 000000000<br>LEI: 969500Y4IJGHJE2MTJ13 | Long             | EC               | CORP              | FR        |      4468 | NS      | $8463969.60   | 0.83%             |  |  |  | No            |                  2 | On Loan: No      |
| SBM Offshore NV                                      | SBM Offshore NV EUR0.25                                       | CUSIP: 000000000<br>LEI: 549300RDGCRYZ5QE6513 | Long             | EC               | CORP              | NL        |     34443 | NS      | $1373512.30   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Softbank Group Corp.                                 | Softbank Group Corp. NPV                                      | CUSIP: 000000000<br>LEI: 5493003BZYYYCDIO0R13 | Long             | EC               | CORP              | JP        |     78000 | NS      | $1899280.56   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Pirelli & C S.p.A.                                   | Pirelli & C S.p.A. NPV                                        | CUSIP: 000000000<br>LEI: 815600A0C9AFC1F2A709 | Long             | EC               | CORP              | IT        |    228193 | NS      | $1578972.81   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| SUZUKI COMPANY LTD                                   | Suzuki Co Ltd NPV                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     17800 | NS      | $307247.08    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Murata Manufacturing Co Ltd.                         | Murata Manufacturing Co Ltd. NPV                              | CUSIP: 000000000<br>LEI: 529900QZG6DL8ZRI7140 | Long             | EC               | CORP              | JP        |    377000 | NS      | $8458834.95   | 0.83%             |  |  |  | No            |                  2 | On Loan: No      |
| PSP Swiss Property AG                                | PSP Swiss Property AG CHF0.10 (REGD)                          | CUSIP: 000000000<br>LEI: 50670042Y437P8X44F56 | Long             | EC               | CORP              | CH        |      8643 | NS      | $1716068.61   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Tenaris SA                                           | Tenaris SA USD1                                               | CUSIP: 000000000<br>LEI: 549300Y7C05BKC4HZB40 | Long             | EC               | CORP              | LU        |    291107 | NS      | $8509737.59   | 0.83%             |  |  |  | No            |                  2 | On Loan: No      |
| Electric Power Development Co Ltd.                   | Electric Power Development Co Ltd. NPV                        | CUSIP: 000000000<br>LEI: 549300KMHPUAQI8VEH90 | Long             | EC               | CORP              | JP        |    207900 | NS      | $5725792.27   | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| Engie SA                                             | Engie SA EUR1                                                 | CUSIP: 000000000<br>LEI: LAXUQCHT4FH58LRZDY46 | Long             | EC               | CORP              | FR        |    413504 | NS      | $13326192.18  | 1.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Clas Ohlson Ab                                       | Clas Ohlson Ab SER'B'NPV                                      | CUSIP: 000000000<br>LEI: 549300MH8OETHBBKJU80 | Long             | EC               | CORP              | SE        |     42385 | NS      | $1674818.38   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| HOKUHOKU FINANCIAL GROUP INC                         | Hokuhoku Financial Group, Inc. NPV                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      4400 | NS      | $166901.46    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Trust Group Inc.                     | Sumitomo Mitsui Trust Group Inc. NPV                          | CUSIP: 000000000<br>LEI: 353800P843RLCDBLNT17 | Long             | EC               | CORP              | JP        |    153100 | NS      | $4877251.62   | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| DOF Group ASA                                        | DOF Group ASA 8.125% SNR NTS USD                              | CUSIP: 000000000<br>LEI: 213800GIV9N2A714T434 | Long             | EC               | CORP              | NO        |     21556 | NS      | $310456.54    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco di Desio e della Brianza S.p.A.                | Banco di Desio e della Brianza S.p.A. EUR0.52                 | CUSIP: 000000000<br>LEI: 81560026D234790EB288 | Long             | EC               | CORP              | IT        |     67251 | NS      | $676223.73    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| United Overseas Bank Ltd.                            | United Overseas Bank Ltd. NPV                                 | CUSIP: 000000000<br>LEI: IO66REGK3RCBAMA8HR66 | Long             | EC               | CORP              | SG        |     77400 | NS      | $2215633.79   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| CHUGIN FINANCIAL GROUP INC                           | Chugin Financial Group Inc. NPV                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    119000 | NS      | $2145625.30   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Lonza Group AG                                       | Lonza Group AG CHF1 (REGD)                                    | CUSIP: 000000000<br>LEI: 549300EFW4H2TCZ71055 | Long             | EC               | CORP              | CH        |      9737 | NS      | $6246466.63   | 0.61%             |  |  |  | No            |                  2 | On Loan: No      |
| ASM International N.V.                               | ASM International N.V. EUR0.04                                | CUSIP: 000000000<br>LEI: 7245001I22ND6ZFHX623 | Long             | EC               | CORP              | NL        |      7761 | NS      | $5882476.18   | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Telstra Group Ltd.                                   | Telstra Group Ltd. NPV                                        | CUSIP: 000000000<br>LEI: 894500WRW54CVN62K416 | Long             | EC               | CORP              | AU        |    129881 | NS      | $479470.03    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Sanofi SA                                            | Sanofi SA EUR2                                                | CUSIP: 000000000<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |    124139 | NS      | $11988091.15  | 1.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Airtel Africa PLC                                    | Airtel Africa PLC ORD USD0.5                                  | CUSIP: 000000000<br>LEI: 254900ZNZDQL6OWQH623 | Long             | EC               | CORP              | GB        |    285297 | NS      | $1315602.39   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Repsol SA                                            | Repsol SA EUR1                                                | CUSIP: 000000000<br>LEI: BSYCX13Y0NOTV14V9N85 | Long             | EC               | CORP              | ES        |     15595 | NS      | $438975.75    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Taisei Corp.                                         | Taisei Corp. NPV                                              | CUSIP: 000000000<br>LEI: 529900TF7XJKIOWMLQ79 | Long             | EC               | CORP              | JP        |      4600 | NS      | $476568.03    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| ASX CLEARING CORPORATION LIMITED                     | ASX SPI 200 Index Futures                                     | CUSIP: 000000000<br>LEI: 549300USWUR0S7VMM868 | N/A              | DE               | CORP              | AU        |         7 | NC      | $-18742.91    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| REN - Redes Energeticas Nacionais, SGPS, S.A         | REN - Redes Energeticas Nacionais, SGPS, S.A EUR1(REGD)       | CUSIP: 000000000<br>LEI: 549300FR1FN48IGHR915 | Long             | EC               | CORP              | PT        |     28929 | NS      | $124889.48    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Redeia Corporacion S.A.                              | Redeia Corporacion S.A. EUR0.5                                | CUSIP: 000000000<br>LEI: 5493009HMD0C90GUV498 | Long             | EC               | CORP              | ES        |     23211 | NS      | $393434.76    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Halma PLC                                            | Halma PLC ORD GBP0.10                                         | CUSIP: 000000000<br>LEI: 2138007FRGLUR9KGBT40 | Long             | EC               | CORP              | GB        |    167525 | NS      | $8548932.15   | 0.84%             |  |  |  | No            |                  2 | On Loan: No      |
| Orkla ASA                                            | Orkla ASA NOK1.25                                             | CUSIP: 000000000<br>LEI: 549300PZS8G8RG6RVZ52 | Long             | EC               | CORP              | NO        |    255191 | NS      | $3211485.32   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Knorr-Bremse AG                                      | Knorr-Bremse AG NPV                                           | CUSIP: 000000000<br>LEI: 5299001GRRO0Z25YZT52 | Long             | EC               | CORP              | DE        |     26851 | NS      | $3067777.03   | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Sumitomo Heavy Industries Ltd                        | Sumitomo Heavy Industries Ltd NPV                             | CUSIP: 000000000<br>LEI: 353800VSTEIRMBC3S374 | Long             | EC               | CORP              | JP        |     24700 | NS      | $755424.20    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Avolta AG                                            | Avolta AG CHF5 (REGD)                                         | CUSIP: 000000000<br>LEI: 549300X53WDBVW7TIF57 | Long             | EC               | CORP              | CH        |     24347 | NS      | $1459757.39   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Lloyds Banking Group PLC                             | Lloyds Banking Group PLC ORD GBP0.1                           | CUSIP: 000000000<br>LEI: 549300PPXHEU2JF0AM85 | Long             | EC               | CORP              | GB        |   6782525 | NS      | $8406501.26   | 0.82%             |  |  |  | No            |                  2 | On Loan: No      |
| Dassault Aviation SA                                 | Dassault Aviation SA EUR0.80                                  | CUSIP: 000000000<br>LEI: 969500CVFTUT88V8QN95 | Long             | EC               | CORP              | FR        |     12738 | NS      | $4741121.50   | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Aixtron SE                                           | Aixtron SE ORD NPV                                            | CUSIP: 000000000<br>LEI: 5299004UJ4D51M25LD67 | Long             | EC               | CORP              | DE        |     21247 | NS      | $829067.55    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Hannover Rueck SE                                    | Hannover Rueck SE ORD NPV(REGD)                               | CUSIP: 000000000<br>LEI: 529900KIN5BE45V5KB18 | Long             | EC               | CORP              | DE        |     18518 | NS      | $5822081.58   | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Resorttrust Inc.                                     | Resorttrust Inc. NPV                                          | CUSIP: 000000000<br>LEI: 353800FM9MYWH105SE11 | Long             | EC               | CORP              | JP        |     21600 | NS      | $237400.79    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Evolution Mining Ltd.                                | Evolution Mining Ltd. NPV                                     | CUSIP: 000000000<br>LEI: 254900BCFW5QO5LW8F27 | Long             | EC               | CORP              | AU        |    770166 | NS      | $6935124.36   | 0.68%             |  |  |  | No            |                  2 | On Loan: No      |
| Forfarmers Nv                                        | Forfarmers Nv EUR0.01                                         | CUSIP: 000000000<br>LEI: 724500YEIHQKMHTXW058 | Long             | EC               | CORP              | NL        |     17017 | NS      | $123325.35    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Cembra Money Bank AG                                 | Cembra Money Bank AG CHF1 (REGD)                              | CUSIP: 000000000<br>LEI: 549300ZDHOETLAIVTE82 | Long             | EC               | CORP              | CH        |      6265 | NS      | $775111.81    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Viridien SA                                          | Viridien SA EUR1                                              | CUSIP: 000000000<br>LEI: 969500FCVQ5SLAAUJV59 | Long             | EC               | CORP              | FR        |      2165 | NS      | $341342.38    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS Group AG                                         | UBS Group AG USD0.10 (REGD)                                   | CUSIP: 000000000<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | EC               | CORP              | CH        |    177680 | NS      | $6928346.50   | 0.68%             |  |  |  | No            |                  2 | On Loan: No      |
| Mizrahi Tefahot Bank Limited                         | Mizrahi Tefahot Bank Limited ILS0.01                          | CUSIP: 000000000<br>LEI: YZO9YEGEO4VYDZMDWF93 | Long             | EC               | CORP              | IL        |      3745 | NS      | $273671.95    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| DAH Sing Financial                                   | DAH Sing Financial NPV                                        | CUSIP: 000000000<br>LEI: 529900J55QMXMR5KMH32 | Long             | EC               | CORP              | HK        |    213200 | NS      | $1106493.51   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Financial Group Inc.                 | Sumitomo Mitsui Financial Group Inc. NPV                      | CUSIP: 000000000<br>LEI: 35380028MYWPB6AUO129 | Long             | EC               | CORP              | JP        |    174500 | NS      | $5737616.65   | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| Daido Metal Co Ltd                                   | Daido Metal Co Ltd NPV                                        | CUSIP: 000000000<br>LEI: 3538008B818OTAF32670 | Long             | EC               | CORP              | JP        |     20200 | NS      | $113216.78    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Tele2 AB (publ)                                      | Tele2 AB (publ) SER'B'NPV                                     | CUSIP: 000000000<br>LEI: 213800EKD193RVI9HL76 | Long             | EC               | CORP              | SE        |     57058 | NS      | $1180957.36   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Tamura Corp                                          | Tamura Corp NPV                                               | CUSIP: 000000000<br>LEI: 353800W98D8AI066OC02 | Long             | EC               | CORP              | JP        |     81600 | NS      | $318313.53    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Air Liquide S.A.(L')                                 | Air Liquide S.A.(L') EUR5.50                                  | CUSIP: 000000000<br>LEI: 969500MMPQVHK671GT54 | Long             | EC               | CORP              | FR        |     55013 | NS      | $11371113.56  | 1.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Covivio SA                                           | Covivio SA EUR3                                               | CUSIP: 000000000<br>LEI: 969500P8M3W2XX376054 | Long             | EC               | CORP              | FR        |     14903 | NS      | $890655.15    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Svenska Handelsbanken AB                             | Svenska Handelsbanken AB SER'A'NPV                            | CUSIP: 000000000<br>LEI: NHBDILHZTYCNBV5UYZ31 | Long             | EC               | CORP              | SE        |    492415 | NS      | $6491863.52   | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| Nitto Kogyo Corp                                     | Nitto Kogyo Corp NPV                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      7200 | NS      | $195174.44    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| GSK plc                                              | GSK plc ORD GBP0.3125                                         | CUSIP: 000000000<br>LEI: 5493000HZTVUYLO1D793 | Long             | EC               | CORP              | GB        |    322623 | NS      | $8886807.82   | 0.87%             |  |  |  | No            |                  2 | On Loan: No      |
| SHINMAYWA INDUSTRIES LTD                             | Shinmaywa Inds NPV                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     14500 | NS      | $217011.56    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| AGC Inc.                                             | AGC Inc. NPV                                                  | CUSIP: 000000000<br>LEI: JE4WFFEELMVPFZ0G1E77 | Long             | EC               | CORP              | JP        |    107300 | NS      | $3801373.03   | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| TOA Corp (CONST)                                     | TOA Corp (CONST) NPV                                          | CUSIP: 000000000<br>LEI: 353800AT816JCLZ5WD63 | Long             | EC               | CORP              | JP        |     10600 | NS      | $211808.16    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Cellnex Telecom S.A.U                                | Cellnex Telecom S.A.U EUR0.25                                 | CUSIP: 000000000<br>LEI: 5493008T4YG3AQUI7P67 | Long             | EC               | CORP              | ES        |    200532 | NS      | $6448058.16   | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| Erste Group Bank AG                                  | Erste Group Bank AG NPV                                       | CUSIP: 000000000<br>LEI: PQOH26KWDF7CG10L6792 | Long             | EC               | CORP              | AT        |     45409 | NS      | $4905323.86   | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| E.ON SE                                              | E.ON SE NPV                                                   | CUSIP: 000000000<br>LEI: Q9MAIUP40P25UFBFG033 | Long             | EC               | CORP              | DE        |    291780 | NS      | $6390415.49   | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| Nomura Holdings Inc.                                 | Nomura Holdings Inc. NPV                                      | CUSIP: 000000000<br>LEI: 549300B3CEAHYG7K8164 | Long             | EC               | CORP              | JP        |    650500 | NS      | $5122062.12   | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Gaztransport Et Technigaz SA                         | Gaztransport Et Technigaz SA EUR0.01                          | CUSIP: 000000000<br>LEI: 969500BVOHVZUUFWDT54 | Long             | EC               | CORP              | FR        |      7067 | NS      | $1662115.38   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Singapore Telecommunications Ltd.                    | Singapore Telecommunications Ltd. NPV(BOARD LOT 100)          | CUSIP: 000000000<br>LEI: 2549003XJKIQO8YDYD89 | Long             | EC               | CORP              | SG        |    904900 | NS      | $3476865.52   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| TP ICAP Group PLC                                    | TP ICAP Group PLC ORD GBP0.25                                 | CUSIP: 000000000<br>LEI: 2138006YAA7IRVKKGE63 | Long             | EC               | CORP              | JE        |     61036 | NS      | $221188.62    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsubishi Corp.                                     | Mitsubishi Corp. NPV                                          | CUSIP: 000000000<br>LEI: KVIPTY4PULAPGC1VVD26 | Long             | EC               | CORP              | JP        |    350000 | NS      | $12007089.08  | 1.17%             |  |  |  | No            |                  2 | On Loan: No      |
| TDK Corp.                                            | TDK Corp. NPV                                                 | CUSIP: 000000000<br>LEI: 3538005O8WNU39U8NX03 | Long             | EC               | CORP              | JP        |    565700 | NS      | $7348599.01   | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| BAE Systems PLC                                      | BAE Systems PLC ORD GBP0.025                                  | CUSIP: 000000000<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | EC               | CORP              | GB        |    370013 | NS      | $10848232.25  | 1.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Leonardo S.p.A.                                      | Leonardo S.p.A. NPV                                           | CUSIP: 000000000<br>LEI: 529900X4EEX1U9LN3U39 | Long             | EC               | CORP              | IT        |      7559 | NS      | $514159.53    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Toenec Corp                                          | Toenec Corp NPV                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      9700 | NS      | $125172.98    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| NGK Insulators Ltd                                   | Ngk Corp. NPV                                                 | CUSIP: 000000000<br>LEI: 353800701BNCL25VYY16 | Long             | EC               | CORP              | JP        |    319500 | NS      | $8234358.15   | 0.80%             |  |  |  | No            |                  2 | On Loan: No      |
| Credito Emiliano S.p.A.                              | Credito Emiliano S.p.A. EUR1                                  | CUSIP: 000000000<br>LEI: 8156004B244AA70DE787 | Long             | EC               | CORP              | IT        |     12346 | NS      | $209227.23    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Tesco PLC                                            | Tesco PLC ORD GBP0.0633333                                    | CUSIP: 000000000<br>LEI: 2138002P5RNKC5W2JZ46 | Long             | EC               | CORP              | GB        |   1792841 | NS      | $11268065.54  | 1.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Kinden Corp                                          | Kinden Corp NPV                                               | CUSIP: 000000000<br>LEI: 35380008T6JUN5TU9T34 | Long             | EC               | CORP              | JP        |     31300 | NS      | $1408139.74   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Astellas Pharma Inc.                                 | Astellas Pharma Inc. NPV                                      | CUSIP: 000000000<br>LEI: 529900IB708DY2HBBB35 | Long             | EC               | CORP              | JP        |    513300 | NS      | $8367722.31   | 0.82%             |  |  |  | No            |                  2 | On Loan: No      |
| Chudenko Corp                                        | Chudenko Corp NPV                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     26800 | NS      | $786479.73    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Sumitomo Corp.                                       | Sumitomo Corp. NPV                                            | CUSIP: 000000000<br>LEI: V82KK8NH1P0JS71FJC05 | Long             | EC               | CORP              | JP        |     36300 | NS      | $1358312.21   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| BPER Banca S.p.A.                                    | BPER Banca S.p.A. NPV                                         | CUSIP: 000000000<br>LEI: N747OI7JINV7RUUH6190 | Long             | EC               | CORP              | IT        |     47204 | NS      | $618619.24    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Banca Monte dei Paschi di Siena S.p.A.               | Banca Monte dei Paschi di Siena S.p.A. NPV (POST SPLT)        | CUSIP: 000000000<br>LEI: J4CP7MHCXR8DAQMKIL78 | Long             | EC               | CORP              | IT        |    292892 | NS      | $2555639.93   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Obayashi Corp.                                       | Obayashi Corp. NPV                                            | CUSIP: 000000000<br>LEI: 529900YT4O5S0LCXWD54 | Long             | EC               | CORP              | JP        |    286600 | NS      | $6941586.46   | 0.68%             |  |  |  | No            |                  2 | On Loan: No      |
| Banca Generali S.p.A.                                | Banca Generali S.p.A. EUR1                                    | CUSIP: 000000000<br>LEI: 815600903231FA2E7698 | Long             | EC               | CORP              | IT        |      4870 | NS      | $290621.01    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Alcon AG                                             | Alcon AG CHF0.04                                              | CUSIP: 000000000<br>LEI: 549300LDT5AP8S0NBM78 | Long             | EC               | CORP              | CH        |    105192 | NS      | $7951487.36   | 0.78%             |  |  |  | No            |                  2 | On Loan: No      |
| The San-in Godo Bank Ltd.                            | The San-in Godo Bank Ltd. NPV                                 | CUSIP: 000000000<br>LEI: 353800I3C5900CEME762 | Long             | EC               | CORP              | JP        |     10900 | NS      | $122645.69    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Etablissements Maurel & Prom S.A.                    | Etablissements Maurel & Prom S.A. EUR0.77                     | CUSIP: 000000000<br>LEI: 969500ZTYI9C1C594X25 | Long             | EC               | CORP              | FR        |     29103 | NS      | $358983.93    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Beiersdorf AG                                        | Beiersdorf AG NPV                                             | CUSIP: 000000000<br>LEI: L47NHHI0Z9X22DV46U41 | Long             | EC               | CORP              | DE        |     13929 | NS      | $1252041.94   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Singapore Technologies Engineering Ltd.              | Singapore Technologies Engineering Ltd. NPV                   | CUSIP: 000000000<br>LEI: 254900OEXGGWCR24DG90 | Long             | EC               | CORP              | SG        |     29800 | NS      | $252919.60    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| ABB Ltd.                                             | ABB Ltd. CHF0.12 (REGD)                                       | CUSIP: 000000000<br>LEI: 5493000LKVGOO9PELI61 | Long             | EC               | CORP              | CH        |    184657 | NS      | $15014085.17  | 1.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Fortescue Ltd.                                       | Fortescue Ltd. NPV                                            | CUSIP: 000000000<br>LEI: 529900VEJFORCO6I4826 | Long             | EC               | CORP              | AU        |     38731 | NS      | $553450.70    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Musashino Bank Ltd.                                  | Musashino Bank Ltd. NPV                                       | CUSIP: 000000000<br>LEI: 353800L8RJMVN2OOS612 | Long             | EC               | CORP              | JP        |     12000 | NS      | $161135.74    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Mycronic AB                                          | Mycronic AB NPV                                               | CUSIP: 000000000<br>LEI: 549300S5CCFESE4C6Y07 | Long             | EC               | CORP              | SE        |     12205 | NS      | $286824.61    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Taiyo Yuden Co Ltd.                                  | Taiyo Yuden Co Ltd. NPV                                       | CUSIP: 000000000<br>LEI: 353800V9G3X5PLB9AD43 | Long             | EC               | CORP              | JP        |      5400 | NS      | $133168.36    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Mizuho Financial Group Inc.                          | Mizuho Financial Group Inc. NPV                               | CUSIP: 000000000<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | EC               | CORP              | JP        |     29600 | NS      | $1198319.42   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| National Australia Bank Ltd.                         | National Australia Bank Ltd. NPV                              | CUSIP: 000000000<br>LEI: F8SB4JFBSYQFRQEH3Z21 | Long             | EC               | CORP              | AU        |    177512 | NS      | $5134655.18   | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| TSUGAMI CORP                                         | Tsugami Corp. NPV                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     13300 | NS      | $277008.51    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| TSURUHA HOLDINGS INC                                 | Tsuruha Holdings Inc. NPV                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     86400 | NS      | $1350399.80   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Vestas Wind Systems AS                               | Vestas Wind Systems AS DKK0.20                                | CUSIP: 000000000<br>LEI: 549300DYMC8BGZZC8844 | Long             | EC               | CORP              | DK        |    385094 | NS      | $11618648.79  | 1.13%             |  |  |  | No            |                  2 | On Loan: No      |
| YOKOHAMA FINANCIAL GROUP INC                         | Yokohama Financial Group Inc. NPV                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    246300 | NS      | $2198522.05   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA                   | Banco Bilbao Vizcaya Argentaria SA EUR0.49                    | CUSIP: 000000000<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | EC               | CORP              | ES        |     28404 | NS      | $613514.62    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| BASF SE                                              | BASF SE NPV                                                   | CUSIP: 000000000<br>LEI: 529900PM64WH8AF1E917 | Long             | EC               | CORP              | DE        |    160746 | NS      | $9900419.91   | 0.97%             |  |  |  | No            |                  2 | On Loan: No      |
| Munich Reinsurance AG                                | Munich Reinsurance AG NPV(REGD)                               | CUSIP: 000000000<br>LEI: 529900MUF4C20K50JS49 | Long             | EC               | CORP              | DE        |     17724 | NS      | $11193446.61  | 1.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Advantest Corp.                                      | Advantest Corp. NPV                                           | CUSIP: 000000000<br>LEI: 353800EMK32PDKS9XR54 | Long             | EC               | CORP              | JP        |     49200 | NS      | $6789928.19   | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| DCC PLC                                              | DCC PLC ORD EUR0.25 (CDI)                                     | CUSIP: 000000000<br>LEI: 213800UPS1QEE4TD3T45 | Long             | EC               | CORP              | IE        |      6346 | NS      | $393053.12    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Kingfisher PLC                                       | Kingfisher PLC ORD GBP0.157142857                             | CUSIP: 000000000<br>LEI: 213800KBMEV7I92FY281 | Long             | EC               | CORP              | GB        |    303479 | NS      | $1153929.98   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| ASIA PILE HOLDINGS CORP                              | Asia Pile Holdings Corporation NPV                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     36600 | NS      | $325438.90    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| NEC Corp.                                            | NEC Corp. NPV                                                 | CUSIP: 000000000<br>LEI: 5493000QYMPFRTEY4K28 | Long             | EC               | CORP              | JP        |     27500 | NS      | $684285.12    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Capgemini SE                                         | Capgemini SE EUR8                                             | CUSIP: 000000000<br>LEI: 96950077L0TN7BAROX36 | Long             | EC               | CORP              | FR        |     49606 | NS      | $5853436.79   | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Deep Value Driller As                                | Deep Value Driller As NOK0.10                                 | CUSIP: 000000000<br>LEI: 549300QEVW47ULJE4O08 | Long             | EC               | CORP              | NO        |     26429 | NS      | $58437.78     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Coca-Cola HBC AG                                     | Coca-Cola HBC AG ORD CHF6.70(CDI)                             | CUSIP: 000000000<br>LEI: 549300EFP3TNG7JGVE49 | Long             | EC               | CORP              | CH        |     60234 | NS      | $3392934.42   | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Unitika Ltd                                          | Unitika Ltd NPV                                               | CUSIP: 000000000<br>LEI: 529900V8B6Q6I4JGE052 | Long             | EC               | CORP              | JP        |     21200 | NS      | $159145.86    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| DnB Bank ASA                                         | DnB Bank ASA NOK12.50                                         | CUSIP: 000000000<br>LEI: 549300GKFG0RYRRQ1414 | Long             | EC               | CORP              | NO        |     64553 | NS      | $2019776.71   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Isuzu Motors Ltd.                                    | Isuzu Motors Ltd. NPV                                         | CUSIP: 000000000<br>LEI: 529900C0QSXVCC7AR494 | Long             | EC               | CORP              | JP        |    461800 | NS      | $6650274.57   | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Yamaha Corp.                                         | Yamaha Corp. NPV                                              | CUSIP: 000000000<br>LEI: 529900S5TENP3IJS7S02 | Long             | EC               | CORP              | JP        |    125700 | NS      | $889902.62    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Codan Ltd.                                           | Codan Ltd. NPV                                                | CUSIP: 000000000<br>LEI: 9845005866EB809B5694 | Long             | EC               | CORP              | AU        |     43073 | NS      | $948031.57    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Pandora A/S                                          | Pandora A/S DKK1                                              | CUSIP: 000000000<br>LEI: 5299007OWYZ6I1E46843 | Long             | EC               | CORP              | DK        |     15083 | NS      | $1078041.11   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Tsukishima Holdings Co Ltd.                          | Tsukishima Holdings Co Ltd. NPV                               | CUSIP: 000000000<br>LEI: 353800K8E7URAH6LTR26 | Long             | EC               | CORP              | JP        |     14000 | NS      | $242345.26    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Prosus NV                                            | Prosus NV EUR0.05 (N SHARES)                                  | CUSIP: 000000000<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | EC               | CORP              | NL        |     80777 | NS      | $3739620.12   | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| North Pacific Bank Ltd.                              | North Pacific Bank Ltd. NPV                                   | CUSIP: 000000000<br>LEI: 549300A1ZLTL4KX3DZ92 | Long             | EC               | CORP              | JP        |     33800 | NS      | $205986.26    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| InterContinental Hotels Group PLC                    | InterContinental Hotels Group PLC ORD GBP0.208521303          | CUSIP: 000000000<br>LEI: 2138007ZFQYRUSLU3J98 | Long             | EC               | CORP              | GB        |      2699 | NS      | $355930.26    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Singapore Exchange Ltd.                              | Singapore Exchange Ltd. NPV                                   | CUSIP: 000000000<br>LEI: 549300IQ650PPXM76X03 | Long             | EC               | CORP              | SG        |    380800 | NS      | $5809156.27   | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Bluenord ASA                                         | Bluenord ASA NOK0.50                                          | CUSIP: 000000000<br>LEI: 5967007LIEEXZXGE3C16 | Long             | EC               | CORP              | NO        |     12277 | NS      | $717500.05    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Telefonaktiebolaget LM Ericsson (publ)               | Telefonaktiebolaget LM Ericsson (publ) SER'B'NPV              | CUSIP: 000000000<br>LEI: 549300W9JLPW15XIFM52 | Long             | EC               | CORP              | SE        |    734463 | NS      | $8373051.37   | 0.82%             |  |  |  | No            |                  2 | On Loan: No      |
| Wolters Kluwer NV                                    | Wolters Kluwer NV EUR0.12                                     | CUSIP: 000000000<br>LEI: 724500TEM53I0U077B74 | Long             | EC               | CORP              | NL        |     93687 | NS      | $6997324.05   | 0.68%             |  |  |  | No            |                  2 | On Loan: No      |
| Klepierre SA                                         | Klepierre SA EUR1.40                                          | CUSIP: 000000000<br>LEI: 969500PB4U31KEFHZ621 | Long             | EC               | CORP              | FR        |     25040 | NS      | $940057.01    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Nova Ltd                                             | Nova Ltd ILS0.01                                              | CUSIP: 000000000<br>LEI: 529900B2DSWE5V3SC292 | Long             | EC               | CORP              | IL        |       246 | NS      | $108635.65    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Daiichi Life Group Inc.                              | Daiichi Life Group Inc. NPV                                   | CUSIP: 000000000<br>LEI: 549300ZUFXI7JXZVTZ25 | Long             | EC               | CORP              | JP        |    292800 | NS      | $2700200.13   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Kyushu Electric Power Co Inc                         | Kyushu Electric Power Co Inc NPV                              | CUSIP: 000000000<br>LEI: 549300BYNZPLKQVQH430 | Long             | EC               | CORP              | JP        |      9800 | NS      | $113597.39    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| SAP SE                                               | SAP SE ORD NPV                                                | CUSIP: 000000000<br>LEI: 529900D6BF99LW9R2E68 | Long             | EC               | CORP              | DE        |     34543 | NS      | $5888986.49   | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsui Fudosan Co Ltd.                               | Mitsui Fudosan Co Ltd. NPV                                    | CUSIP: 000000000<br>LEI: 353800ND4ZKNZDYKMF33 | Long             | EC               | CORP              | JP        |     31500 | NS      | $335803.81    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                     | Deutsche Bank AG ORD NPV(REGD)                                | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | EC               | CORP              | DE        |     46957 | NS      | $1397445.49   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Eneos Holdings Inc                                   | Eneos Holdings Inc NPV                                        | CUSIP: 000000000<br>LEI: 3538001KQ5SAOZSQTT44 | Long             | EC               | CORP              | JP        |   1033300 | NS      | $9310172.50   | 0.91%             |  |  |  | No            |                  2 | On Loan: No      |
| Nordea Bank ABP                                      | Nordea Bank ABP NPV                                           | CUSIP: 000000000<br>LEI: 529900ODI3047E2LIV03 | Long             | EC               | CORP              | FI        |    564728 | NS      | $9724151.10   | 0.95%             |  |  |  | No            |                  2 | On Loan: No      |
| IYOGIN HOLDINGS INC                                  | Iyogin Holdings Inc. NPV                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     55300 | NS      | $1021673.38   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| NatWest Group PLC                                    | NatWest Group PLC ORD GBP1.0769                               | CUSIP: 000000000<br>LEI: 2138005O9XJIJN4JPN90 | Long             | EC               | CORP              | GB        |   1484148 | NS      | $10994493.50  | 1.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Shell PLC                                            | Shell PLC ORD EUR0.07                                         | CUSIP: 000000000<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |    243461 | NS      | $11384517.41  | 1.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Japan Tobacco Inc                                    | Japan Tobacco Inc NPV                                         | CUSIP: 000000000<br>LEI: 353800Z0ENYBQO0XRJ31 | Long             | EC               | CORP              | JP        |    246300 | NS      | $9449020.74   | 0.92%             |  |  |  | No            |                  2 | On Loan: No      |
| Banca Mediolanum SpA                                 | Banca Mediolanum SpA NPV                                      | CUSIP: 000000000<br>LEI: 7LVZJ6XRIE7VNZ4UBX81 | Long             | EC               | CORP              | IT        |     88201 | NS      | $1787060.48   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| AWA Bank Ltd. (The)                                  | AWA Bank Ltd. (The) NPV                                       | CUSIP: 000000000<br>LEI: 353800YH8XWV0XAHXR13 | Long             | EC               | CORP              | JP        |     15800 | NS      | $583957.92    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Scout24 SE                                           | Scout24 SE NPV                                                | CUSIP: 000000000<br>LEI: 5493007EIKM2ENQS7U66 | Long             | EC               | CORP              | DE        |      8646 | NS      | $667111.72    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Nippon Electric Glass Co Ltd                         | Nippon Electric Glass Co Ltd NPV                              | CUSIP: 000000000<br>LEI: 529900NCIGSAX4V03234 | Long             | EC               | CORP              | JP        |      9900 | NS      | $381027.06    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Seiko Epson Corp                                     | Seiko Epson Corp NPV                                          | CUSIP: 000000000<br>LEI: 549300NIOFQDR749W206 | Long             | EC               | CORP              | JP        |     24600 | NS      | $304134.91    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsui E&S Co Ltd                                    | Mitsui E&S Co Ltd NPV                                         | CUSIP: 000000000<br>LEI: 5493007T2YKKWF2NYN82 | Long             | EC               | CORP              | JP        |     82800 | NS      | $3031680.40   | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| ODFJELL DRILLING LTD                                 | Odfjell Drilling Limited USD0.01                              | CUSIP: 000000000<br>LEI: 529900M08ZU24JXMPB85 | Long             | EC               | CORP              | BM        |     69068 | NS      | $723530.57    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| TPR COMPANY LTD                                      | TPR Co Ltd NPV                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     22600 | NS      | $179504.39    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| NESTLE' CAPITAL MARKETS SA                           | Nestle SA CHF0.10 (REGD)                                      | CUSIP: 000000000<br>LEI: 549300PZN3NFSOUXLC42 | Long             | EC               | CORP              | CH        |    189968 | NS      | $18634161.16  | 1.82%             |  |  |  | No            |                  2 | On Loan: No      |
| TBC Bank Group PLC                                   | TBC Bank Group PLC ORD GBP0.01                                | CUSIP: 000000000<br>LEI: 213800T6NS9N2WQ3B328 | Long             | EC               | CORP              | GB        |     20345 | NS      | $1110761.26   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Wartsila Oyj Abp                                     | Wartsila Oyj Abp NPV                                          | CUSIP: 000000000<br>LEI: 743700G7A9J1PHM3X223 | Long             | EC               | CORP              | FI        |    237696 | NS      | $8853706.09   | 0.86%             |  |  |  | No            |                  2 | On Loan: No      |
| NOK CORP                                             | Nok Corporation NPV                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     38000 | NS      | $688604.66    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Vodafone Group PLC                                   | Vodafone Group PLC ORD USD0.2095238                           | CUSIP: 000000000<br>LEI: 213800TB53ELEUKM7Q61 | Long             | EC               | CORP              | GB        |   6086686 | NS      | $9180868.53   | 0.90%             |  |  |  | No            |                  2 | On Loan: No      |
| UCB SA                                               | UCB SA NPV                                                    | CUSIP: 000000000<br>LEI: 2138008J191VLSGY5A09 | Long             | EC               | CORP              | BE        |     28887 | NS      | $8703565.60   | 0.85%             |  |  |  | No            |                  2 | On Loan: No      |
| Namura Shipbuildng Co Ltd                            | Namura Shipbuildng Co Ltd NPV                                 | CUSIP: 000000000<br>LEI: 353800L4EGBFKO3C4X44 | Long             | EC               | CORP              | JP        |      8800 | NS      | $244069.70    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT                    | EURO STOXX 50 Index Futures(FESX) Index Fut                   | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DE               | CORP              | DE        |       121 | NC      | $-224342.20   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Renesas Electronics Corp.                            | Renesas Electronics Corp. NPV                                 | CUSIP: 000000000<br>LEI: 5299000EPC47VJQOFB81 | Long             | EC               | CORP              | JP        |    510400 | NS      | $7297306.68   | 0.71%             |  |  |  | No            |                  2 | On Loan: No      |
| NSK Ltd                                              | NSK Ltd NPV                                                   | CUSIP: 000000000<br>LEI: 353800FVQK6SULSPBC69 | Long             | EC               | CORP              | JP        |    134400 | NS      | $952426.28    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Finecobank Banca Fineco S.p.A.                       | Finecobank Banca Fineco S.p.A. EUR0.33                        | CUSIP: 000000000<br>LEI: 549300L7YCATGO57ZE10 | Long             | EC               | CORP              | IT        |    310570 | NS      | $6909792.70   | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| TotalEnergies SE                                     | TotalEnergies SE EUR2.5                                       | CUSIP: 000000000<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |     66998 | NS      | $6095478.04   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Unicaja Banco, S.A.U.                                | Unicaja Banco, S.A.U. EUR0.25                                 | CUSIP: 000000000<br>LEI: 5493007SJLLCTM6J6M37 | Long             | EC               | CORP              | ES        |    112627 | NS      | $334248.39    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Admiral Group PLC                                    | Admiral Group PLC ORD GBP0.001                                | CUSIP: 000000000<br>LEI: 213800FGVM7Z9EJB2685 | Long             | EC               | CORP              | GB        |     47485 | NS      | $1986097.09   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Babcock International Group PLC                      | Babcock International Group PLC ORD GBP0.60                   | CUSIP: 000000000<br>LEI: 213800TSKOLX4EU6L377 | Long             | EC               | CORP              | GB        |     31712 | NS      | $492316.66    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Var Energi ASA                                       | Var Energi ASA NOK0.16                                        | CUSIP: 000000000<br>LEI: 549300LIVN3FFOJN2K47 | Long             | EC               | CORP              | NO        |    421892 | NS      | $2172013.99   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Charter Hall Group                                   | Charter Hall Group NPV (STAPLED)                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |     17000 | NS      | $221519.00    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| GEA Group AG                                         | GEA Group AG NPV                                              | CUSIP: 000000000<br>LEI: 549300PHUU0ZZWO8EO07 | Long             | EC               | CORP              | DE        |     36074 | NS      | $2587146.80   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| LASERTEC CORP                                        | Lasertec Corp. NPV                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       900 | NS      | $200316.22    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| MS&AD Insurance Group Holdings Inc.                  | MS&AD Insurance Group Holdings Inc. NPV                       | CUSIP: 000000000<br>LEI: 529900CXROT5S2HMMP26 | Long             | EC               | CORP              | JP        |    412200 | NS      | $10756597.07  | 1.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Nippon Thompson Co Ltd                               | Nippon Thompson Co Ltd NPV                                    | CUSIP: 000000000<br>LEI: 353800F1TL8X5AMTY686 | Long             | EC               | CORP              | JP        |     76300 | NS      | $423749.15    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Fuji Electric Co., Ltd.                              | Fuji Electric Co., Ltd. NPV                                   | CUSIP: 000000000<br>LEI: 5299000HVNGZZTYYM906 | Long             | EC               | CORP              | JP        |    122900 | NS      | $8609399.77   | 0.84%             |  |  |  | No            |                  2 | On Loan: No      |
| Compagnie Financiere Richemont Sa                    | Compagnie Financiere Richemont Sa CHF1 (REGD)                 | CUSIP: 000000000<br>LEI: 549300YIPGJ6UX2QPS51 | Long             | EC               | CORP              | CH        |     60779 | NS      | $10731513.31  | 1.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Central Japan Railway Co.                            | Central Japan Railway Co. NPV                                 | CUSIP: 000000000<br>LEI: 353800YAR3OVUITHTG64 | Long             | EC               | CORP              | JP        |    114800 | NS      | $2984936.66   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Fujita Kanko Inc                                     | Fujita Kanko Inc NPV                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      9500 | NS      | $124219.14    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Hong Kong Exchanges & Clearing Ltd.                  | Hong Kong Exchanges & Clearing Ltd. NPV                       | CUSIP: 000000000<br>LEI: 213800YTVSXYQN17BW16 | Long             | EC               | CORP              | HK        |    186600 | NS      | $9413596.48   | 0.92%             |  |  |  | No            |                  2 | On Loan: No      |
| Kansai Electric Power Co Inc                         | Kansai Electric Power Co Inc NPV                              | CUSIP: 000000000<br>LEI: 353800PFUKP5ONPJNZ86 | Long             | EC               | CORP              | JP        |     40100 | NS      | $666705.65    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Oversea-Chinese Banking Corp Ltd.                    | Oversea-Chinese Banking Corp Ltd. NPV                         | CUSIP: 000000000<br>LEI: 5493007O3QFXCPOGWK22 | Long             | EC               | CORP              | SG        |     37600 | NS      | $644003.80    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Currys PLC                                           | Currys PLC ORD GBP0.001                                       | CUSIP: 000000000<br>LEI: 2138001E12GWLLDQQF16 | Long             | EC               | CORP              | GB        |    194920 | NS      | $322791.69    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Yokogawa Electric Corporation                        | Yokogawa Electric Corporation NPV                             | CUSIP: 000000000<br>LEI: 529900MV0U7C9WWF4L22 | Long             | EC               | CORP              | JP        |     68100 | NS      | $2104546.40   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Endeavour Mining PLC                                 | Endeavour Mining PLC ORD USD0.01                              | CUSIP: 000000000<br>LEI: 529900NI5MXQ91GHXR07 | Long             | EC               | CORP              | GB        |     20991 | NS      | $1264703.73   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Thales SA                                            | Thales SA EUR3                                                | CUSIP: 000000000<br>LEI: 529900FNDVTQJOVVPZ19 | Long             | EC               | CORP              | FR        |     31317 | NS      | $9183566.39   | 0.90%             |  |  |  | No            |                  2 | On Loan: No      |
| Eurofins Scientific SE                               | Eurofins Scientific SE EUR0.01                                | CUSIP: 000000000<br>LEI: 529900JEHFM47DYY3S57 | Long             | EC               | CORP              | LU        |     27624 | NS      | $2015697.78   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsubishi HC Capital Inc.                           | Mitsubishi HC Capital Inc. NPV                                | CUSIP: 000000000<br>LEI: 353800MZ3QX9RLMH7B09 | Long             | EC               | CORP              | JP        |    429100 | NS      | $3850342.91   | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Takeda Pharmaceutical Co Ltd.                        | Takeda Pharmaceutical Co Ltd. NPV                             | CUSIP: 000000000<br>LEI: 549300ZLMVP4X0OGR454 | Long             | EC               | CORP              | JP        |    268400 | NS      | $9884607.04   | 0.97%             |  |  |  | No            |                  2 | On Loan: No      |
| Fresenius Medical Care AG                            | Fresenius Medical Care AG NPV                                 | CUSIP: 000000000<br>LEI: 549300CP8NY40UP89Q40 | Long             | EC               | CORP              | DE        |     10971 | NS      | $497179.10    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Danone SA                                            | Danone SA EUR0.25                                             | CUSIP: 000000000<br>LEI: 969500KMUQ2B6CBAF162 | Long             | EC               | CORP              | FR        |    110462 | NS      | $8826708.77   | 0.86%             |  |  |  | No            |                  2 | On Loan: No      |
| Insurance Australia Group Ltd.                       | Insurance Australia Group Ltd. NPV                            | CUSIP: 000000000<br>LEI: 549300PFEWKNHRG25N08 | Long             | EC               | CORP              | AU        |    517876 | NS      | $2622645.43   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| YAHAGI CONSTRUCTION CO LTD                           | Yahagi Construct NPV                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     14800 | NS      | $197568.07    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Imperial Brands PLC                                  | Imperial Brands PLC GBP0.10                                   | CUSIP: 000000000<br>LEI: 549300DFVPOB67JL3A42 | Long             | EC               | CORP              | GB        |    236123 | NS      | $9574275.34   | 0.94%             |  |  |  | No            |                  2 | On Loan: No      |
| SAN JU SAN FINANCIAL GROUP INC                       | San Ju San Financial Group Inc. NPV                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     18000 | NS      | $167368.43    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Beazley PLC (UK)                                     | Beazley PLC (UK) ORD GBP0.05                                  | CUSIP: 000000000<br>LEI: 213800VTOMUWD41GIT12 | Long             | EC               | CORP              | GB        |     17229 | NS      | $291107.85    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| HONG KONG FUTURES EXCHANGE LTD.                      | HANG SENG INDEX FUTURES, APR-2026                             | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | HK        |         4 | NC      | $-11027.96    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Santen Pharmaceutical Co Ltd.                        | Santen Pharmaceutical Co Ltd. NPV                             | CUSIP: 000000000<br>LEI: 529900TPT3I7C17MIM03 | Long             | EC               | CORP              | JP        |    124400 | NS      | $1399553.89   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Safran SA                                            | Safran SA EUR0.20                                             | CUSIP: 000000000<br>LEI: 969500UIC89GT3UL7L24 | Long             | EC               | CORP              | FR        |     43110 | NS      | $14106866.71  | 1.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco BPM S.p.A.                                     | Banco BPM S.p.A. NPV                                          | CUSIP: 000000000<br>LEI: 815600E4E6DCD2D25E30 | Long             | EC               | CORP              | IT        |    316300 | NS      | $4399890.83   | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Metals X Ltd                                         | Metals X Ltd NPV                                              | CUSIP: 000000000<br>LEI: 549300PYQIA9NE598013 | Long             | EC               | CORP              | AU        |    269305 | NS      | $242110.28    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| NIPPON SHINYAKU CO LTD                               | Nippon Shinyaku Co NPV                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      5400 | NS      | $177642.07    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Resolute Mining Ltd.                                 | Resolute Mining Ltd. NPV                                      | CUSIP: 000000000<br>LEI: 254900MP8JONT590XY28 | Long             | EC               | CORP              | AU        |    515220 | NS      | $509466.62    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Legrand SA                                           | Legrand SA EUR4                                               | CUSIP: 000000000<br>LEI: 969500XXRPGD7HCAFA90 | Long             | EC               | CORP              | FR        |      9703 | NS      | $1507407.06   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Shikoku Bank Ltd. (The)                              | Shikoku Bank Ltd. (The) NPV                                   | CUSIP: 000000000<br>LEI: 353800WDXTE9PTGKDW46 | Long             | EC               | CORP              | JP        |     13800 | NS      | $201177.23    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| TODA CORP                                            | Toda Corporation NPV                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     17200 | NS      | $159919.93    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Qantas Airways Ltd.                                  | Qantas Airways Ltd. NPV                                       | CUSIP: 000000000<br>LEI: YLXNW6TI6QSK1H8H0N82 | Long             | EC               | CORP              | AU        |    815447 | NS      | $4790142.09   | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Sumitomo Electric Industries Ltd.                    | Sumitomo Electric Industries Ltd. NPV                         | CUSIP: 000000000<br>LEI: 5493005SP87FL5TOS202 | Long             | EC               | CORP              | JP        |    192500 | NS      | $10937867.50  | 1.07%             |  |  |  | No            |                  2 | On Loan: No      |
| OMV AG                                               | OMV AG NPV                                                    | CUSIP: 000000000<br>LEI: 549300V62YJ9HTLRI486 | Long             | EC               | CORP              | AT        |      6596 | NS      | $482564.08    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| DAH Sing Banking G                                   | DAH Sing Banking G NPV                                        | CUSIP: 000000000<br>LEI: 529900DXBMKJOLLQOM66 | Long             | EC               | CORP              | HK        |   1248400 | NS      | $1948316.93   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of East Asia Ltd. (The)                         | Bank of East Asia Ltd. (The) NPV                              | CUSIP: 000000000<br>LEI: CO6GC26LCGGRTUESIP55 | Long             | EC               | CORP              | HK        |    605600 | NS      | $1009436.31   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Santos Ltd.                                          | Santos Ltd. NPV                                               | CUSIP: 000000000<br>LEI: 5299000RK70B5O2M7077 | Long             | EC               | CORP              | AU        |    311210 | NS      | $1703422.44   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Kongsberg Gruppen ASA                                | Kongsberg Gruppen ASA NOK0.25                                 | CUSIP: 000000000<br>LEI: 5967007LIEEXZXJ9HK73 | Long             | EC               | CORP              | NO        |    241468 | NS      | $10292982.16  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| FUKUOKA FINANCIAL GROUP INC                          | Fukuoka Financial Group Inc. NPV                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     36600 | NS      | $1401617.72   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsubishi Electric Corp.                            | Mitsubishi Electric Corp. NPV                                 | CUSIP: 000000000<br>LEI: 549300TRXM9Y6561AX39 | Long             | EC               | CORP              | JP        |    301400 | NS      | $9857917.77   | 0.96%             |  |  |  | No            |                  2 | On Loan: No      |
| Roche Holding AG                                     | Roche Holding AG CHF0.001                                     | CUSIP: 000000000<br>LEI: 549300U41AUUVOAAOB37 | Long             | EP               | CORP              | CH        |      9633 | NS      | $3844442.10   | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Nojima Corp                                          | Nojima Corp NPV                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     56100 | NS      | $388925.15    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Woodside Energy Group Ltd.                           | Woodside Energy Group Ltd. NPV                                | CUSIP: 000000000<br>LEI: 2549005ZC5RXAOO7FH41 | Long             | EC               | CORP              | AU        |      8455 | NS      | $200700.90    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| AIA Group Ltd, Hong Kong                             | AIA Group Ltd, Hong Kong NPV                                  | CUSIP: 000000000<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | EC               | CORP              | HK        |     95600 | NS      | $1062242.94   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Novartis AG                                          | Novartis AG CHF0.49 (REGD)                                    | CUSIP: 000000000<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |    151755 | NS      | $23293548.32  | 2.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Group Ltd.                                 | Macquarie Group Ltd. NPV                                      | CUSIP: 000000000<br>LEI: ACMHD8HWFMFUIQQ8Y590 | Long             | EC               | CORP              | AU        |     27075 | NS      | $3846189.85   | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Regis Resources Ltd.                                 | Regis Resources Ltd. NPV                                      | CUSIP: 000000000<br>LEI: 213800XH9YUXBLYBD749 | Long             | EC               | CORP              | AU        |    331854 | NS      | $1572914.65   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| UniCredit S.p.A.                                     | UniCredit S.p.A. NPV                                          | CUSIP: 000000000<br>LEI: 549300TRUWO2CD2G5692 | Long             | EC               | CORP              | IT        |    137747 | NS      | $9882501.79   | 0.97%             |  |  |  | No            |                  2 | On Loan: No      |
| Swedbank AB (publ)                                   | Swedbank AB (publ) SER'A'NPV                                  | CUSIP: 000000000<br>LEI: M312WZV08Y7LYUC71685 | Long             | EC               | CORP              | SE        |     24300 | NS      | $828229.65    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Vicat SA                                             | Vicat SA EUR4                                                 | CUSIP: 000000000<br>LEI: 9695009YI1863TOVDP79 | Long             | EC               | CORP              | FR        |      3672 | NS      | $268023.48    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| NORITSU KOKI CO LTD                                  | Noritsu Koki Co Ltd. NPV                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     17600 | NS      | $228563.81    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Technogym SpA                                        | Technogym SpA NPV                                             | CUSIP: 000000000<br>LEI: 815600B9149F66E77F76 | Long             | EC               | CORP              | IT        |     48132 | NS      | $972247.89    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Danske Bank A/S                                      | Danske Bank A/S DKK10                                         | CUSIP: 000000000<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | EC               | CORP              | DK        |     93745 | NS      | $4619996.31   | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| LEM Holdings AG                                      | LEM Holdings AG CHF0.50(REGD)                                 | CUSIP: 000000000<br>LEI: 5067008AF2B2C5O7TJ43 | Long             | EC               | CORP              | CH        |       477 | NS      | $175818.96    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Partners Group Holding AG                            | Partners Group Holding AG CHF0.01 (REGD)                      | CUSIP: 000000000<br>LEI: 549300I3IVVWZWDHI788 | Long             | EC               | CORP              | CH        |      1231 | NS      | $1326822.15   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Aviva PLC                                            | Aviva PLC ORD GBP0.328947368                                  | CUSIP: 000000000<br>LEI: YF0Y5B0IB8SM0ZFG9G81 | Long             | EC               | CORP              | GB        |    322135 | NS      | $2585259.63   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Hitachi Construction Machinery Co Ltd.               | Hitachi Construction Machinery Co Ltd. NPV                    | CUSIP: 000000000<br>LEI: 5493009B7C53PDH8W826 | Long             | EC               | CORP              | JP        |     33000 | NS      | $1133128.41   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Distribuidora Internacional de Alimentacion SA       | Distribuidora Internacional de Alimentacion SA EUR5           | CUSIP: 000000000<br>LEI: 54930063C6K2TNFL6H10 | Long             | EC               | CORP              | ES        |     10120 | NS      | $473824.38    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Shizuoka Financial Group Inc.                        | Shizuoka Financial Group Inc. NPV                             | CUSIP: 000000000<br>LEI: 353800MNO5C8V2SHGA81 | Long             | EC               | CORP              | JP        |    163500 | NS      | $2714845.69   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| GSK plc                                              | GSK plc SPONSORED ADR                                         | CUSIP: 37733W204<br>LEI: 5493000HZTVUYLO1D793 | Long             | EC               | CORP              | GB        |      5592 | NS      | $308622.48    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Commonwealth Bank of Australia                       | Commonwealth Bank of Australia ORD NPV                        | CUSIP: 000000000<br>LEI: MSFSBD3QN1GSN7Q6C537 | Long             | EC               | CORP              | AU        |     37040 | NS      | $4337637.64   | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| OSAKA EXCHANGE,INC                                   | TOPIX TRADE FUTURE, JUN 2026                                  | CUSIP: 000000000<br>LEI: 3538001249AILNPRUX57 | N/A              | DE               | CORP              | JP        |        17 | NC      | $-11117.61    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Bank Hapoalim BM                                     | Bank Hapoalim BM ILS1                                         | CUSIP: 000000000<br>LEI: B6ARUI4946ST4S7WOU88 | Long             | EC               | CORP              | IL        |     18055 | NS      | $424021.72    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Credit Saison Co Ltd.                                | Credit Saison Co Ltd. NPV                                     | CUSIP: 000000000<br>LEI: 529900SV58ZWTGRH3A66 | Long             | EC               | CORP              | JP        |     27100 | NS      | $708383.67    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Industria De Diseno Textil SA                        | Industria De Diseno Textil SA EUR0.03 (POST SUBD)             | CUSIP: 000000000<br>LEI: 549300TTCXZOGZM2EY83 | Long             | EC               | CORP              | ES        |     12215 | NS      | $711020.95    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| WH GROUP LTD                                         | WH Group Ltd. USD0.0001                                       | CUSIP: 000000000<br>LEI: 254900A4AYEDRWYSE928 | Long             | EC               | CORP              | KY        |   8205000 | NS      | $10736022.55  | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Wesfarmers Ltd.                                      | Wesfarmers Ltd. ORD NPV                                       | CUSIP: 000000000<br>LEI: 5493003L32ZX9557ST85 | Long             | EC               | CORP              | AU        |    115361 | NS      | $5889870.08   | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| Rheinmetall AG                                       | Rheinmetall AG NPV                                            | CUSIP: 000000000<br>LEI: 5299001OU9CSE29O6S05 | Long             | EC               | CORP              | DE        |       596 | NS      | $1005325.36   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Kyodo Printing Co Ltd                                | Kyodo Printing Co Ltd NPV                                     | CUSIP: 000000000<br>LEI: 3538003A42CQ4FMGD451 | Long             | EC               | CORP              | JP        |     51700 | NS      | $526272.48    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Glencore PLC                                         | Glencore PLC ORD USD0.01                                      | CUSIP: 000000000<br>LEI: 2138002658CPO9NBH955 | Long             | EC               | CORP              | JE        |   1118151 | NS      | $8468737.13   | 0.83%             |  |  |  | No            |                  2 | On Loan: No      |
| ANZ Group Holdings Ltd.                              | ANZ Group Holdings Ltd. NPV                                   | CUSIP: 000000000<br>LEI: 9845005D9C6BAA10BK72 | Long             | EC               | CORP              | AU        |    205636 | NS      | $5170769.84   | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Westpac Banking Corp.                                | Westpac Banking Corp. NPV                                     | CUSIP: 000000000<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | EC               | CORP              | AU        |    190084 | NS      | $5253024.02   | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| FISHER & PAYKEL HEALTHCARE CORP LTD                  | Fisher & Paykel Healthcare Corp Ltd. NPV                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | NZ        |     74222 | NS      | $1609391.71   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Boerse AG                                   | Deutsche Boerse AG NPV(REGD)                                  | CUSIP: 000000000<br>LEI: 529900G3SW56SHYNPR95 | Long             | EC               | CORP              | DE        |     15267 | NS      | $4472400.67   | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| ASML Holding N.V.                                    | ASML Holding N.V. EUR0.09                                     | CUSIP: 000000000<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |     16744 | NS      | $22265462.45  | 2.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Sandvik AB                                           | Sandvik AB NPV                                                | CUSIP: 000000000<br>LEI: 5299008ZUAXN43LVZF54 | Long             | EC               | CORP              | SE        |    228237 | NS      | $8773852.66   | 0.86%             |  |  |  | No            |                  2 | On Loan: No      |
| Compagnie de Saint-Gobain SA                         | Compagnie de Saint-Gobain SA EUR4                             | CUSIP: 000000000<br>LEI: NFONVGN05Z0FMN5PEC35 | Long             | EC               | CORP              | FR        |     64671 | NS      | $5354403.15   | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| AstraZeneca PLC                                      | AstraZeneca PLC ORD USD0.25                                   | CUSIP: 000000000<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |       861 | NS      | $169806.42    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| QBE Insurance Group Ltd.                             | QBE Insurance Group Ltd. NPV                                  | CUSIP: 000000000<br>LEI: 549300D2FBW76FPUSG65 | Long             | EC               | CORP              | AU        |     18614 | NS      | $274682.41    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Fresenius SE & Co. KGaA                              | Fresenius SE & Co. KGaA NPV                                   | CUSIP: 000000000<br>LEI: XDFJ0CYCOO1FXRFTQS51 | Long             | EC               | CORP              | DE        |    157859 | NS      | $8192219.46   | 0.80%             |  |  |  | No            |                  2 | On Loan: No      |
| Japan Post Bank Co Ltd.                              | Japan Post Bank Co Ltd. NPV                                   | CUSIP: 000000000<br>LEI: 5493006JVO6N2HC2XZ76 | Long             | EC               | CORP              | JP        |      8900 | NS      | $145161.00    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Vienna Insurance Group AG Wiener Versicherung Gruppe | Vienna Insurance Group AG Wiener Versicherung Gruppe NPV (BR) | CUSIP: 000000000<br>LEI: 549300JCRU23I1THU176 | Long             | EC               | CORP              | AT        |      3694 | NS      | $262476.05    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Monadelphous Group Ltd.                              | Monadelphous Group Ltd. NPV                                   | CUSIP: 000000000<br>LEI: 5299007YT51BCWZTYW93 | Long             | EC               | CORP              | AU        |      5541 | NS      | $106132.26    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Superloop Ltd.                                       | Superloop Ltd. NPV                                            | CUSIP: 000000000<br>LEI: 529900A6RVCX545NWC88 | Long             | EC               | CORP              | AU        |    133090 | NS      | $301802.96    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| JX Advanced Metals Corp.                             | JX Advanced Metals Corp. ORD SHS                              | CUSIP: 000000000<br>LEI: 353800NC6NPNKC4JEC58 | Long             | EC               | CORP              | JP        |    135400 | NS      | $3000979.43   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Holdings PLC                                    | HSBC Holdings PLC ORD USD0.50                                 | CUSIP: 000000000<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | EC               | CORP              | GB        |     71759 | NS      | $1178469.30   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Sompo Holdings Inc.                                  | Sompo Holdings Inc. NPV                                       | CUSIP: 000000000<br>LEI: 353800CWW4SRGEYEB512 | Long             | EC               | CORP              | JP        |    100900 | NS      | $3927859.68   | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| SEA1 OFFSHORE INC                                    | Sea1 Offshore Inc. USD1                                       | CUSIP: 000000000<br>LEI: 549300NYGU1CE7UICM69 | Long             | EC               | CORP              | KY        |     43875 | NS      | $159051.54    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Aena SME S.A.                                        | Aena SME S.A. EUR10                                           | CUSIP: 000000000<br>LEI: 959800R7QMXKF0NFMT29 | Long             | EC               | CORP              | ES        |     22628 | NS      | $667465.24    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Procrea Holdings Inc                                 | Procrea Holdings Inc NPV                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     39800 | NS      | $797026.90    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Tokio Marine Holdings Inc.                           | Tokio Marine Holdings Inc. NPV                                | CUSIP: 000000000<br>LEI: 5299009QN2NZ191KLS29 | Long             | EC               | CORP              | JP        |     21300 | NS      | $999842.73    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Umicore S.A.                                         | Umicore S.A. NPV                                              | CUSIP: 000000000<br>LEI: 529900F3AIQECS8ZSV61 | Long             | EC               | CORP              | BE        |     87054 | NS      | $1660793.55   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Dometic Group AB                                     | Dometic Group AB NPV                                          | CUSIP: 000000000<br>LEI: 549300STIPMK5VSA7Y59 | Long             | EC               | CORP              | SE        |     41465 | NS      | $114708.64    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Smiths Group PLC                                     | Smiths Group PLC ORD GBP0.375                                 | CUSIP: 000000000<br>LEI: 213800MJL6IPZS3ASA11 | Long             | EC               | CORP              | GB        |    130443 | NS      | $3980628.15   | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Daiwa Securities Group Inc.                          | Daiwa Securities Group Inc. NPV                               | CUSIP: 000000000<br>LEI: 353800WRC7Y23PWFJG38 | Long             | EC               | CORP              | JP        |    393600 | NS      | $3729513.64   | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Koninklijke Ahold Delhaize NV                        | Koninklijke Ahold Delhaize NV EUR0.01                         | CUSIP: 000000000<br>LEI: 724500C9GNBV20UYRX36 | Long             | EC               | CORP              | NL        |    172796 | NS      | $8046977.06   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Strabag SE                                           | Strabag SE NPV (BR)                                           | CUSIP: 000000000<br>LEI: 529900TYYSRJH2VJSP60 | Long             | EC               | CORP              | AT        |      2486 | NS      | $246082.82    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Northern Star Resources Ltd.                         | Northern Star Resources Ltd. NPV                              | CUSIP: 000000000<br>LEI: 254900XFXCRYYZAX6M78 | Long             | EC               | CORP              | AU        |    451717 | NS      | $6566518.69   | 0.64%             |  |  |  | No            |                  2 | On Loan: No      |
| Zalando SE                                           | Zalando SE NPV                                                | CUSIP: 000000000<br>LEI: 529900YRFFGH5AXU4S86 | Long             | EC               | CORP              | DE        |    153826 | NS      | $3758085.76   | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Sun Hung Kai Properties Ltd.                         | Sun Hung Kai Properties Ltd. NPV                              | CUSIP: 000000000<br>LEI: 529900LUMD393RD3S874 | Long             | EC               | CORP              | HK        |     48000 | NS      | $799240.17    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| EXEO GROUP INC                                       | EXEO Group Inc. NPV                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     76100 | NS      | $1308059.65   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| ICE FUTURES EUROPE                                   | FTSE 100 - Stnd Index Future - ICEU, Jun26                    | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DE               | CORP              | GB        |        21 | NC      | $-31965.09    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Nordex SE                                            | Nordex SE NPV                                                 | CUSIP: 000000000<br>LEI: 529900HVDYCUWVD0OE76 | Long             | EC               | CORP              | DE        |     19985 | NS      | $1083037.25   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Perseus Mining Ltd.                                  | Perseus Mining Ltd. NPV                                       | CUSIP: 000000000<br>LEI: 54930054ZDGKBCW3SM26 | Long             | EC               | CORP              | AU        |     35227 | NS      | $129062.34    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Elbit Systems Ltd                                    | Elbit Systems Ltd ILS1                                        | CUSIP: 000000000<br>LEI: 529900Q9CB1REUMZSS32 | Long             | EC               | CORP              | IL        |       617 | NS      | $520199.97    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-29

**Name of Applicant:** Goldman Sachs Trust

**Signature:** Allison Frachiolla

**Name of Signer:** Allison Frachiolla

**Title:** Vice President Assistant Treasurer