# EDGAR Filing Document

**Accession Number:** 0000822977
**File Stem:** 0000940400-25-011096
**Filing Date:** 2025-11
**Character Count:** 116153
**Document Hash:** e1bb474383e601e1463542b9aa70908b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-011096.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0000940400-25-011096

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**PERIOD START**: 20251231

**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:** 251529624

**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 Managed Futures Strategy Fund (Series ID: S000034856)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000107193 | Class A         | GMSAX           |
| C000107194 | Class C         | GMSCX           |
| C000107195 | Institutional   | GMSSX           |
| C000107196 | Class R         | GFFRX           |
| C000107197 | Investor Shares | GFIRX           |
| C000200310 | Class R6 Shares | GMSWX           |
| C000201775 | Class P Shares  | GMQPX           |

## Nport-Ex

GOLDMAN

SACHS

MANAGED

FUTURES

STRATEGY

FUND

Consolidated

Schedule

of

Investments

September

30,

2025

(Unaudited)

#### ADDITIONAL

#### INVESTMENT

#### INFORMATION

#### Shares

#### Dividend

#### Rate

#### Value
aa

#### Investment

#### Company

#### –

#### 82.7%
(a) Goldman

Sachs

Financial

Square

Government

Fund

-

Institutional

Shares

139,859,940

4.042%

$

139,859,940

(Cost

$139,859,940)

#### TOTAL

#### INVESTMENTS

#### –

#### 82.7%

#### (Cost

#### $139,859,940)
$

139,859,940

#### OTHER

#### ASSETS

#### IN

#### EXCESS

#### OF

#### LIABILITIES

#### –

#### 17.3%
29,313,481

#### NET

#### ASSETS

#### –

#### 100.0%
$

169,173,421

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

The

percentage

shown

for

each

investment

category

reflects

the

value

of

investments

in

that

category

as

a

percentage

of

net

assets.

(a) Represents

an

affiliated

issuer.

#### FUTURES

#### CONTRACTS
—

At

September

30,

2025,

the

Portfolio

had

the

following

futures

contracts:

#### Description

#### Number

#### of

#### Contracts

#### Expiration

#### Date

#### Notional

#### Amount

#### Unrealized

#### Appreciation/
(Depreciation)

Long

position

contracts:

oz

Gold

12/29/25

$

6,996,060

$

828,740

CAC

Euro

Index

10/17/25

834,222

5,176

CBOE

Volatality

Index

10/22/25

246,232

(3,605)

Cocoa

12/15/25

67,070

(8,543)

Coffee

"C"

12/18/25

561,300

11,556

E-Mini

Dow

12/19/25

8,637,465

39,593

EURO

STOXX

Index

12/19/25

2,472,058

43,702

Euro-BTP

12/08/25

2,955,402

12,132

Feeder

Cattle

11/20/25

899,250

6,809

FTSE

Index

12/19/25

5,946,511

68,459

FTSE

China

A50

Index

10/30/25

2,992,770

19,999

FTSE

Taiwan

Index

Equity

Index

10/30/25

1,967,190

(3,094)

FTSE/JSE

Top

Index

12/18/25

2,011,178

80,938

FTSE/MIB

Index

12/19/25

1,995,604

5,059

German

Stock

Index

12/19/25

7,752,286

90,856

Hang

Seng

Index

10/30/25

3,804,085

92,524

HSCEI

10/30/25

2,399,553

66,980

IBEX

Index

10/17/25

2,002,802

26,048

KOSPI

Index

12/11/25

2,882,809

254,690

Lean

Hogs

12/12/25

568,000

1,079

Live

Cattle

12/31/25

657,440

(4,892)

LME

Copper

Base

Metal

11/17/25

5,129,015

152,540

LME

Copper

Base

Metal

10/13/25

4,865,164

243,530

LME

Lead

Base

Metal

10/13/25

732,330

(7,226)

LME

Nickel

Base

Metal

11/17/25

90,927

(709) LME

Nickel

Base

Metal

10/13/25

814,615

(3,099)

LME

Primary

Aluminium

10/13/25

469,490

13,326

LME

Primary

Aluminium

11/17/25

1,005,439

6,007

LME

Zinc

Base

Metal

11/17/25

223,223

1,100

LME

Zinc

Base

Metal

10/13/25

449,151

23,516

Low

Sulphur

Gasoil

11/12/25

2,062,500

29,615

Mini

VSTOXX®Index

10/22/25

316,759

(7,283)

MSCI

EAFE

E-Mini

Index

12/19/25

1,835,595

18,005

NASDAQ

E-Mini

Index

12/19/25

9,462,665

242,924

Nikkei

Index

12/11/25

5,171,789

257,502

GOLDMAN

SACHS

MANAGED

FUTURES

STRATEGY

FUND

Consolidated

Schedule

of

Investments

(continued)

September

30,

2025

(Unaudited)

#### FUTURES

#### CONTRACTS
(continued)

#### Description

#### Number

#### of

#### Contracts

#### Expiration

#### Date

#### Notional

#### Amount

#### Unrealized

#### Appreciation/
(Depreciation)

Long

position

contracts:

(continued)

NY

Harbor

USLD

10/31/25

$

1,759,212

$

14,047

OMXS30

Index

10/17/25

3,368,616

32,608

Palladium

12/29/25

772,200

67,023

Platinum

01/28/26

968,400

122,819

S&P

E-Mini

MidCap

Index

12/19/25

5,257,920

(93,466)

S&P

500

E-Mini

Index

12/19/25

41,780,250

558,342

S&P/TSX

Index

12/18/25

5,350,118

108,790

SET50

Index

09/29/25

722,936

16,839

SET50

Index

12/29/25

810,639

(5,078)

Silver

12/29/25

1,872,600

310,927

Soybean

Oil

12/12/25

415,296

(18,338)

SPI

Index

12/18/25

7,045,519

(27,862)

Sugar

No.

09/30/25

18,032

TOPIX

Index

12/11/25

5,947,053

123,177

#### Total
$

3,814,014

Short

position

contracts:

Corn

(190) 12/12/25

(3,952,000)

(144,527)

Cotton

No.

(31) 12/08/25

(1,019,435)

28,921

Euro-OAT

(21) 12/08/25

(2,991,152)

(8,377)

Hard

Red

Winter

Wheat

(36) 12/12/25

(894,150)

51,356

LME

Copper

Base

Metal

(2) 11/17/25

(512,901)

4,341

LME

Copper

Base

Metal

(19) 10/13/25

(4,865,164)

(202,798)

LME

Lead

Base

Metal

(16) 11/17/25

(788,476)

2,476

LME

Lead

Base

Metal

(15) 10/13/25

(732,330)

9,076

LME

Nickel

Base

Metal

(9) 10/13/25

(814,615)

2,996

LME

Nickel

Base

Metal

(9) 11/17/25

(818,342)

2,094

LME

Primary

Aluminium

(7) 10/13/25

(469,490)

(14,079)

LME

Zinc

Base

Metal

(6) 10/13/25

(449,151)

(30,173)

Milling

Wheat

(87) 12/10/25

(951,201)

60,740

MSCI

EAFE

E-Mini

Index

(92) 12/19/25

(12,812,380)

5,011

Natural

Gas

(67) 10/29/25

(2,231,100)

51,915

Russell

2000

E-Mini

Index

(13) 12/19/25

(1,596,075)

(6,616)

SET50

Index

(140) 09/29/25

(722,937)

(135,125)

Soybean

Meal

(48) 12/12/25

(1,311,360)

46,442

Sugar

No.

(50) 02/27/26

(929,600)

(23,633)

Sugar

No.

(1) 09/30/25

(18,032)

(552) Wheat

(44) 12/12/25

(1,116,500)

43,067

$

(257,445)

#### Futures

#### Contracts
$

3,556,569

#### FORWARD

#### FOREIGN

#### CURRENCY

#### EXCHANGE

#### CONTRACTS
—

At

September

30,

2025,

the

Fund

had

the

following

forward

foreign

currency

exchange

contracts:

#### FORWARD

#### FOREIGN

#### CURRENCY

#### EXCHANGE

#### CONTRACTS

#### WITH

#### UNREALIZED

#### GAIN

#### Counterparty

#### Currency

#### Purchased

#### Currency

#### Sold

#### Settlement

#### Date

#### Unrealized

#### Gain
Morgan

Stanley

Co.,

Inc.

BRL

12,620,000

USD

2,307,705

10/2/2025

$

63,473

USD

2,344,060

BRL

12,460,000

10/2/2025

2,945

AUD

5,860,000

USD

3,857,098

12/17/2025

24,009

COP

8,338,000,000

USD

2,056,439

12/17/2025

48,239

CZK

61,344,000

USD

2,929,228

12/17/2025

34,863

EUR

19,090,000

USD

22,380,551

12/17/2025

132,296

GBP

11,215,750

USD

15,078,005

12/17/2025

7,501

HUF

852,000,000

USD

2,510,907

12/17/2025

41,767

JPY

56,276,000

USD

383,381

12/17/2025

#### ADDITIONAL

#### INVESTMENT

#### INFORMATION

#### (#### continued

####)
GOLDMAN

SACHS

MANAGED

FUTURES

STRATEGY

FUND

Consolidated

Schedule

of

Investments

(continued)

September

30,

2025

(Unaudited)

#### \*\*End

#### swaps

#### header\*\*

#### FORWARD

#### FOREIGN

#### CURRENCY

#### EXCHANGE

#### CONTRACTS

#### WITH

#### UNREALIZED

#### GAIN
(continued)

#### Counterparty

#### Currency

#### Purchased

#### Currency

#### Sold

#### Settlement

#### Date

#### Unrealized

#### Gain
Morgan

Stanley

Co.,

Inc.

(continued)

MXN

50,891,000

USD

2,685,133

12/17/2025

$

70,901

NOK

90,500,000

USD

8,976,190

12/17/2025

94,301

PLN

9,199,000

USD

2,516,048

12/17/2025

11,597

SEK

82,304,400

USD

8,756,991

12/17/2025

27,835

USD

47,254

CAD

65,000

12/17/2025

USD

78,219

COP

308,000,000

12/17/2025

USD

1,937,172

GBP

1,440,000

12/17/2025

USD

23,998

HUF

8,000,000

12/17/2025

USD

3,682,216

INR

326,000,000

12/17/2025

30,014

USD

2,117,163

JPY

310,000,000

12/17/2025

4,153

USD

577,254

KRW

800,000,000

12/17/2025

5,465

USD

90,657

NOK

900,000

12/17/2025

USD

1,105,114

NZD

1,880,000

12/17/2025

11,870

ZAR

42,140,000

USD

2,354,791

12/17/2025

71,790

#### TOTAL
$

684,888

#### FORWARD

#### FOREIGN

#### CURRENCY

#### EXCHANGE

#### CONTRACTS

#### WITH

#### UNREALIZED

#### LOSS

#### Counterparty

#### Currency

#### Purchased

#### Currency

#### Sold

#### Settlement

#### Date

#### Unrealized

#### Loss
Morgan

Stanley

Co.,

Inc.

USD

29,898

BRL

160,000

10/2/2025

(165) BRL

12,460,000

USD

2,325,956

11/4/2025

(4,597)

AUD

7,500,000

USD

4,994,935

12/17/2025

(27,650)

CAD

89,000

USD

64,701

12/17/2025

(517) COP

176,000,000

USD

45,166

12/17/2025

(740) CZK

1,200,000

USD

58,063

12/17/2025

(80) EUR

1,900,000

USD

2,240,993

12/17/2025

(322) GBP

2,490,000

USD

3,361,417

12/17/2025

(12,295)

NOK

5,800,000

USD

586,516

12/17/2025

(5,203)

NZD

1,880,000

USD

1,122,191

12/17/2025

(28,948)

PLN

1,320,000

USD

363,293

12/17/2025

(590) SEK

12,150,000

USD

1,309,462

12/17/2025

(12,623)

USD

438,692

AUD

672,000

12/17/2025

(6,377)

USD

1,702,353

CHF

1,355,000

12/17/2025

(15,596)

USD

906,024

EUR

773,000

12/17/2025

(5,575)

USD

990,792

GBP

737,000

12/17/2025

(494) USD

571,609

HUF

194,078,000

12/17/2025

(9,867)

USD

780,855

IDR

13,140,000,000

12/17/2025

(4,982)

USD

6,107,989

JPY

896,949,000

12/17/2025

(5,760)

USD

121,581

SEK

1,143,000

12/17/2025

(418) USD

391,301

ZAR

7,010,000

12/17/2025

(12,362)

#### TOTAL
$

(155,161)

#### SWAP

#### CONTRACTS
—

At

September

30,

2025,

the

Fund

had

the

following

swap

contracts:

#### CENTRALLY

#### CLEARED

#### INTEREST

#### RATE

#### SWAP

#### CONTRACTS

#### Payments

#### Made

#### by

#### the

#### Fund
(a) #### Payments

#### Received

#### by

#### the

#### Fund

#### Termination

#### Date

#### Notional

#### Amounts

#### (000's)

#### Value

#### Upfront

#### Premium
(Received)

#### Paid

#### Unrealized

#### Appreciation/
(Depreciation)

2.750 %

(b) CORRA

12/17/2026

CAD

18,500

$

60,516

$

62,969

$

(2,453)

0.250 (b) 1

Day

SOFR

12/17/2026

CHF

106,480

456,377

445,356

11,021

2.000 (b) 1

Day

ESTRON

12/17/2026

EUR

2,710

3,821

4,197

(376) 12

Month

BOJDTR

(b) 0.750 %

12/17/2026

JPY

8,170,000

68,737

–

68,737

#### ADDITIONAL

#### INVESTMENT

#### INFORMATION

#### (#### continued

####)
GOLDMAN

SACHS

MANAGED

FUTURES

STRATEGY

FUND

Consolidated

Schedule

of

Investments

(continued)

September

30,

2025

(Unaudited)

#### CENTRALLY

#### CLEARED

#### INTEREST

#### RATE

#### SWAP

#### CONTRACTS

#### Payments

#### Made

#### by

#### the

#### Fund
(a) #### Payments

#### Received

#### by

#### the

#### Fund

#### Termination

#### Date

#### Notional

#### Amounts

#### (000's)

#### Value

#### Upfront

#### Premium
(Received)

#### Paid

#### Unrealized

#### Appreciation/
(Depreciation)

2.000 %

(b) 3

Month

STIBOR

12/17/2026

SEK

110,810

$

1,467

$

3,623

$

(2,156)

Day

SOFR

(b) 3.500 %

12/17/2026

USD

13,120

(6,298)

(18,878)

12,580

2.250 (b) 1

Day

ESTRON

12/17/2027

EUR

52,970

379,399

389,873

(10,474)

4.000 (b) 1

Day

SONIO

12/17/2027

GBP

42,990

290,809

320,964

(30,155)

1.000 (b) 12

Month

BOJDTR

12/17/2027

JPY

19,432,280

(70,457)

142,662

(213,119)

Day

SOFR

(b) 3.500 12/17/2027

USD

970

(3,792)

(6,092)

2,300

Month

PRIBOR

(b) 3.750 3/18/2031

CZK

225,000

116,310

–

116,310

7.500 (c) 1

Month

MXIBTIEF

3/18/2031

MXN

410,660

119,223

–

119,223

7.250 (d) 3

Month

JIBAR

3/18/2031

ZAR

436,800

125,516

–

125,516

3.250 (e) CORRA

12/17/2035

CAD

3,480

76,979

77,805

(826) 0.500 (b) 1

Day

SOFR

12/17/2035

CHF

5,070

14,784

17,306

(2,522)

2.750 (b) 1

Day

ESTRON

12/17/2035

EUR

21,290

502,655

525,900

(23,245)

4.250 (b) 1

Day

SONIO

12/17/2035

GBP

18,760

164,527

232,084

(67,557)

Month

BOJDTR

(b) 1.500 12/17/2035

JPY

7,048,910

143,967

(193,768)

337,735

3.750 (b) 1

Day

SOFR

12/17/2035

USD

73,190

576,569

1,287,819

(711,250)

Day

ESTRON

(b) 3.000 12/17/2055

EUR

14,490

(705,043)

(764,955)

59,912

Day

SONIO

(b) 4.750 12/17/2055

GBP

14,550

(340,514)

(436,818)

96,304

Month

BOJDTR

(b) 2.500 12/17/2055

JPY

808,440

(28,453)

–

(28,453)

Day

SOFR

(b) 4.000 12/17/2055

USD

17,600

(230,401)

(426,879)

196,478

TOTAL

$

1,716,698

$

1,663,168

$

53,530

(a) Represents

forward

starting

interest

rate

swaps

whose

effective

dates

of

commencement

of

accruals

and

cash

flows

occur

subsequent

to

September

30,

2025. (b) Payments

made

annually.

(c) Payments

made

monthly.

(d) Payments

made

quarterly.

(e) Payments

made

semi-annually.

Investment

Abbreviations:

CORRA

—

Canadian

Overnight

Repo

Rate

Average

ESTRON

—

Euro

Short-Term

Rate

JIBAR

—

Johannesburg

Interbank

Agreed

Rate

PRIBOR

—

Prague

Interbank

Offered

Rate

SOFR

—

Secured

Overnight

Financing

Rate

SONIO

—

Sterling

Overnight

Index

Average

STIBOR

—

Stockholm

Interbank

Offered

Rate

Currency

Abbreviations:

AUD

Australian

Dollar

BRL

Brazilian

Real

CAD

Canadian

Dollar

CHF

Swiss

Franc

COP

Colombian

Peso

CZK

Czech

Koruna

EUR

Euro

GBP

British

Pound

HUF

Hungarian

Forint

IDR

Indonesian

Rupiah

INR

Indian

Rupee

JPY

Japanese

Yen

KRW

South

Korean

Won

MXN

Mexican

Peso

NOK

Norwegian

Krone

NZD

New

Zealand

Dollar

PLN

Polish

Zloty

SEK

Swedish

Krona

USD

United

States

Dollar

ZAR

South

African

Rand

#### ADDITIONAL

#### INVESTMENT

#### INFORMATION

#### (#### continued

####)

#### \*\*End

#### swaps

#### header\*\*
(continued)

Goldman

Sachs

Alternative

Funds

I

Consolidated

Schedule

of

Investments

September

30,

2025

(Unaudited)

#### NOTES

#### TO

#### THE

#### SCHEDULE

#### OF

#### INVESTMENTS
Investment

Valuation

—

The

Fund's

valuation

policy

is

to

value

investments

at

fair

value.

Investments

and

Fair

Value

Measurements

—

U.S.

GAAP

defines

the

fair

value

of

a

financial

instrument

as

the

amount

that

would

be

received

to

sell

an

asset

or

paid

to

transfer

a

liability

in

an

orderly

transaction

between

market

participants

at

the

measurement

date

(i.e.,

the

exit

price);

the

Fund's

policy

is

to

use

the

market

approach.

GAAP

establishes

a

fair

value

hierarchy

that

prioritizes

the

inputs

to

valuation

techniques

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

unadjusted

quoted

prices

in

active

markets

for

identical

assets

or

liabilities

(Level

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

measurements).

The

level

in

the

fair

value

hierarchy

within

which

the

fair

value

measurement

in

its

entirety

falls

shall

be

determined

based

on

the

lowest

level

input

that

is

significant

to

the

fair

value

measurement

in

its

entirety.

The

levels

used

for

classifying

investments

are

not

necessarily

an

indication

of

the

risk

associated

with

investing

in

these

investments.

The

three

levels

of

the

fair

value

hierarchy

are

described

below:

Level

—

Unadjusted

quoted

prices

in

active

markets

that

are

accessible

at

the

measurement

date

for

identical,

unrestricted

assets

or

liabilities;

Level

—

Quoted

prices

in

markets

that

are

not

active

or

financial

instruments

for

which

significant

inputs

are

observable

(including,

but

not

limited

to,

quoted

prices

for

similar

investments,

interest

rates,

foreign

exchange

rates,

volatility

and

credit

spreads),

either

directly

or

indirectly;

Level

—

Prices

or

valuations

that

require

significant

unobservable

inputs

(including

GSAM's

assumptions

in

determining

fair

value

measurement).

The

Board

of

Trustees

("Trustees")

has

approved

Valuation

Procedures

that

govern

the

valuation

of

the

portfolio

investments

held

by

the

Funds,

including

investments

for

which

market

quotations

are

not

readily

available.

With

respect

to

the

Fund's

investments

that

do

not

have

readily

available

market

quotations,

the

Trustees

have

designated

the

Adviser

as

the

valuation

designee

to

perform

fair

valuations

pursuant

to

rule

2a-5

under

the

Investment

Company

Action

of

1940

("Valuation

Designee")

GSAM

has

day-to-day

responsibility

for

implementing

and

maintaining

internal

controls

and

procedures

related

to

the

valuation

of

the

Fund's

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:

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

Statement

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

Goldman

Sachs

Alternative

Funds

I

Consolidated

Schedule

of

Investments

(continued)

September

30,

2025

(Unaudited)

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. Forward

Contracts

—

A

forward

contract

is

a

contract

between

two

parties

to

buy

or

sell

an

asset

at

a

specified

price

on

a

future

date.

A

forward

contract

settlement

can

occur

on

a

cash

or

delivery

basis.

Forward

contracts

are

marked-to-market

daily

using

independent

vendor

prices,

and

the

change

in

value,

if

any,

is

recorded

as

an

unrealized

gain

or

loss.

Cash

and

certain

investments

may

be

used

to

collateralize

forward

contracts.

A

forward

foreign

currency

exchange

contract

is

a

contract

in

which

the

Fund

agrees

to

receive

or

deliver

a

fixed

quantity

of

one

currency

for

another,

at

a

pre-determined

price

at

a

future

date.

All

forward

foreign

currency

exchange

contracts

are

marked

to

market

daily

by

using

the

outright

forward

rates

or

interpolating

based

upon

maturity

dates,

where

available.

Non-deliverable

forward

foreign

currency

exchange

contracts

are

settled

with

the

counterparty

in

cash

without

the

delivery

of

foreign

currency.

ii. 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

the

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.

iii. Swap

Contracts

—

Bilateral

swap

contracts

are

agreements

in

which

the

Fund

and

a

counterparty

agree

to

exchange

periodic

payments

on

a

specified

notional

amount

or

make

a

net

payment

upon

termination.

Bilateral

swap

transactions

are

privately

negotiated

in

the

OTC

market

and

payments

are

settled

through

direct

payments

between

the

Fund

and

the

counterparty.

By

contrast,

certain

swap

transactions

are

subject

to

mandatory

central

clearing.

These

swaps

are

executed

through

a

derivatives

clearing

member

("DCM"),

acting

in

an

agency

capacity,

and

submitted

to

a

central

counterparty

("CCP")

("centrally

cleared

swaps"),

in

which

case

all

payments

are

settled

with

the

CCP

through

the

DCM. Swaps

are

marked-to-market

daily

using

pricing

vendor

quotations,

counterparty

or

clearinghouse

prices

or

model

prices,

and

the

change

in

value,

if

any,

is

recorded

as

an

unrealized

gain

or

loss.

Upon

entering

into

a

swap

contract,

a

Fund

is

required

to

satisfy

an

initial

margin

requirement

by

delivering

cash

or

securities

to

the

counterparty

(or

in

some

cases,

segregated

in

a

triparty

account

on

behalf

of

the

counterparty),

which

can

be

adjusted

by

any

mark-to-market

gains

or

losses

pursuant

to

bilateral

or

centrally

cleared

arrangements.

For

centrally

cleared

swaps

the

daily

change

in

valuation,

if

any,

is

recorded

as

a

receivable

or

payable

for

variation

margin.

An

interest

rate

swap

is

an

agreement

that

obligates

two

parties

to

exchange

a

series

of

cash

flows

at

specified

intervals,

based

upon

or

calculated

by

reference

to

changes

in

interest

rates

on

a

specified

notional

principal

amount.

The

payment

flows

are

usually

netted

against

each

other,

with

the

difference

being

paid

by

one

party

to

the

other.

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.

C. Fair

Value

Hierarchy—

The

following

is

a

summary

of

the

Fund's

investments

and

derivatives

classified

in

the

fair

value

hierarchy

as

of

September

30,

2025:

#### NOTES

#### TO

#### THE

#### SCHEDULE

#### OF

#### INVESTMENTS
(continued)

Goldman

Sachs

Alternative

Funds

I

Consolidated

Schedule

of

Investments

(continued)

September

30,

2025

(Unaudited)

For

further

information

regarding

security

characteristics,

see

the

Schedules

of

Investments.

The

Fund's

risks

include,

but

are

not

limited

to,

the

following:

Commodity

Sector

Risk

—

Exposure

to

the

commodities

markets

may

subject

the

Fund

to

greater

volatility

than

investments

in

more

traditional

securities.

The

value

of

commodity-linked

investments

may

be

affected

by

changes

in

overall

market

movements,

commodity

index

volatility,

changes

in

interest

rates,

or

factors

affecting

a

particular

industry

or

commodity,

such

as

drought,

floods,

weather,

livestock

disease,

embargoes,

tariffs

and

international

economic,

business,

political

and

regulatory

developments.

The

prices

of

energy,

industrial

metals,

precious

metals,

agriculture

and

livestock

sector

commodities

may

fluctuate

widely

due

to

factors

such

as

changes

in

value,

supply

and

demand

and

governmental

regulatory

policies.

The

commodity-linked

investments

in

which

the

Subsidiary

enters

into

may

involve

counterparties

in

the

financial

services

sector,

and

events

affecting

the

financial

services

sector

may

cause

the

Subsidiary's,

and

therefore

the

Fund's,

share

value

to

fluctuate.

Derivatives

Risk

—

The

Fund's

use

of

derivatives

and

other

similar

instruments

(collectively

referred

to

in

this

paragraph

as

"derivatives")

may

result

in

loss,

including

due

to

adverse

market

movements.

Derivatives,

which

may

pose

risks

in

addition

to

and

greater

than

those

associated

with

investing

directly

in

securities,

currencies

or

other

assets

and

instruments,

may

increase

market

exposure

and

be

illiquid

or

less

liquid,

volatile,

difficult

to

price

and

leveraged

so

that

small

changes

in

the

value

of

the

underlying

assets

or

instruments

may

produce

disproportionate

losses

to

the

Fund.

Certain

derivatives

are

also

subject

to

counterparty

risk,

which

is

the

risk

that

the

other

party

in

the

transaction

will

not,

or

lacks

the

capacity

or

authority

to,

fulfill

its

contractual

obligations,

liquidity

risk,

which

includes

the

risk

that

the

Fund

will

not

be

able

to

exit

the

derivative

when

it

is

advantageous

to

do

so,

and

risks

arising

from

margin

requirements,

which

include

the

risk

that

the

Fund

will

be

required

to

pay

additional

margin

or

set

aside

additional

collateral

to

maintain

open

derivative

positions.

The

use

of

derivatives

is

a

highly

specialized

activity

that

involves

investment

techniques

and

risks

different

from

those

associated

with

investments

in

more

traditional

securities

and

instruments.

Losses

from

derivatives

can

also

result

from

a

lack

of

correlation

between

changes

in

the

value

of

derivative

instruments

and

the

portfolio

assets

(if

any)

being

hedged.

#### Managed

#### Futures

#### Strategy

#### Fund

#### Investment

#### Type

#### Assets
Investment

Companies

$

139,859,940

$

—

$

—

#### Derivative

#### Type

#### Assets
(a) Forward

Foreign

Currency

Exchange

Contracts

$

—

$

684,888

$

—

Futures

Contracts

4,305,644

—

—

Interest

Rate

Swap

Contracts

—

1,146,116

—

#### Total
$

4,305,644

$

1,831,004

$

—

€

1.00 €

1.00 €

1.00 #### Liabilities
Forward

Foreign

Currency

Exchange

Contracts

(a) $

—

$

(155,161)

$

—

Futures

Contracts

(a) (749,075)

—

—

Interest

Rate

Swap

Contracts

(a) —

(1,092,586)

—

#### Total
$

(749,075)

$

(1,247,747)

$

—

€

1.00 €

1.00 €

1.00 (a) Amount

shown

represents

unrealized

gain

(loss)

at

period

end.

#### NOTES

#### TO

#### THE

#### SCHEDULE

#### OF

#### INVESTMENTS
(continued)

Goldman

Sachs

Alternative

Funds

I

Consolidated

Schedule

of

Investments

(continued)

September

30,

2025

(Unaudited)

Foreign

and

Emerging

Countries

Risk

—

Investing

in

foreign

markets

may

involve

special

risks

and

considerations

not

typically

associated

with

investing

in

the

U.S.

Foreign

securities

may

be

subject

to

risk

of

loss

because

of

more

or

less

foreign

government

regulation,

less

public

information,

less

stringent

investor

protections,

less

stringent

accounting,

corporate

governance,

financial

reporting

and

disclosure

standards,

and

less

economic,

political

and

social

stability

in

the

countries

in

which

the

Fund

invests.

The

imposition

of

sanctions,

exchange

controls

(including

repatriation

restrictions),

confiscation

of

assets

and

property,

trade

restrictions

(including

tariffs)

and

other

government

restrictions

by

the

U.S.

or

other

governments,

or

from

problems

in

registration,

settlement

or

custody,

may

also

result

in

losses.

The

type

and

severity

of

sanctions

and

other

similar

measures,

including

counter

sanctions

and

other

retaliatory

actions,

that

may

be

imposed

could

vary

broadly

in

scope,

and

their

impact

is

impossible

to

predict.

For

example,

the

imposition

of

sanctions

and

other

similar

measures

could,

among

other

things,

cause

a

decline

in

the

value

and/or

liquidity

of

securities

issued

by

the

sanctioned

country

or

companies

located

in

or

economically

tied

to

the

sanctioned

country

and

increase

market

volatility

and

disruption

in

the

sanctioned

country

and

throughout

the

world.

Sanctions

and

other

similar

measures

could

limit

or

prevent

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

exchange

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.

To

the

extent

that

the

Fund

also

invests

in

securities

of

issuers

located

in,

or

economically

tied

to,

emerging

markets,

these

risks

may

be

more

pronounced.

Interest

Rate

Risk

—

When

interest

rates

increase,

fixed

income

securities

or

instruments

held

by

the

Fund

will

generally

decline

in

value.

Long-term

fixed

income

securities

or

instruments

will

normally

have

more

price

volatility

because

of

this

risk

than

short-term

fixed

income

securities

or

instruments.

A

wide

variety

of

market

factors

can

cause

interest

rates

to

rise,

including

central

bank

monetary

policy,

rising

inflation

and

changes

in

the

general

economic

conditions.

Changing

interest

rates

may

have

unpredictable

effects

on

the

markets,

may

result

in

heightened

market

volatility

and

may

detract

from

the

Fund's

performance.

In

addition,

changes

in

monetary

policy

may

exacerbate

the

risks

associated

with

changing

interest

rates.

Funds

with

longer

average

portfolio

durations

will

generally

be

more

sensitive

to

changes

in

interest

rates

than

funds

with

a

shorter

average

portfolio

duration.

Fluctuations

in

interest

rates

may

also

affect

the

liquidity

of

fixed

income

securities

and

instruments

held

by

the

Fund's.

A

sudden

or

unpredictable

increase

in

interest

rates

may

cause

volatility

in

the

market

and

may

decrease

the

liquidity

of

the

Fund's

investments,

which

would

make

it

harder

for

the

Fund

to

sell

its

investments

at

an

advantageous

time.

Investments

in

Other

Investment

Companies

Risk

—

As

a

shareholder

of

another

investment

company,

the

Fund

will

indirectly

bear

its

proportionate

share

of

any

net

management

fees

and

other

expenses

paid

by

such

other

investment

companies,

in

addition

to

the

fees

and

expenses

regularly

borne

by

the

Fund.

Large

Shareholder

Transactions

Risk

—

The

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

the

Fund

in

their

investment

model),

individuals,

accounts

and

Goldman

Sachs

affiliates,

purchase

or

redeem

large

amounts

of

shares

of

the

Fund.

Such

large

shareholder

redemptions,

which

may

occur

rapidly

or

unexpectedly,

may

cause

the

Fund

to

sell

portfolio

securities

at

times

when

it

would

not

otherwise

do

so,

which

may

negatively

impact

the

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

the

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

the

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.

#### NOTES

#### TO

#### THE

#### SCHEDULE

#### OF

#### INVESTMENTS
(continued)

Goldman

Sachs

Alternative

Funds

I

Consolidated

Schedule

of

Investments

(continued)

September

30,

2025

(Unaudited)

Liquidity

Risk

—

The

Fund

may

make

investments

that

are

illiquid

or

that

may

become

less

liquid

in

response

to

market

developments

or

adverse

investor

perceptions.

Illiquid

investments

may

be

more

difficult

to

value.

Liquidity

risk

may

also

refer

to

the

risk

that

the

Fund

will

not

be

able

to

pay

redemption

proceeds

within

the

allowable

time

period

or

without

significant

dilution

to

remaining

investors'

interests

because

of

unusual

market

conditions,

declining

prices

of

the

securities

sold,

an

unusually

high

volume

of

redemption

requests,

or

other

reasons.

To

meet

redemption

requests,

the

Fund

may

be

forced

to

sell

investments

at

an

unfavorable

time

and/or

under

unfavorable

conditions.

If

the

Fund

is

forced

to

sell

securities

at

an

unfavorable

time

and/or

under

unfavorable

conditions,

such

sales

may

adversely

affect

the

Fund's

NAV

and

dilute

remaining

investors'

interests.

Liquidity

risk

may

be

the

result

of,

among

other

things,

the

reduced

number

and

capacity

of

traditional

market

participants

to

make

a

market

in

fixed

income

securities

or

the

lack

of

an

active

market.

The

potential

for

liquidity

risk

may

be

magnified

by

a

rising

interest

rate

environment

or

other

circumstances

where

investor

redemptions

from

fixed

income

funds

may

be

higher

than

normal,

potentially

causing

increased

supply

in

the

market

due

to

selling

activity.

These

risks

may

be

more

pronounced

in

connection

with

the

Fund's

investments

in

securities

of

issuers

located

in

emerging

market

countries.

Redemptions

by

large

shareholders

may

have

a

negative

impact

on

the

Fund's

liquidity.

Market

and

Credit

Risks

—

In

the

normal

course

of

business,

a

Fund

trades

financial

instruments

and

enters

into

financial

transactions

where

risk

of

potential

loss

exists

due

to

changes

in

the

market

(market

risk).

The

value

of

the

securities

in

which

the

Fund

invests

may

go

up

or

down

in

response

to

the

prospects

of

individual

companies,

particular

sectors

or

governments

and/or

general

economic

conditions

throughout

the

world

due

to

increasingly

interconnected

global

economies

and

financial

markets.

Events

such

as

war,

military

conflict,

geopolitical

disputes,

acts

of

terrorism,

social

or

political

unrest,

natural

disasters,

recessions,

inflation,

rapid

interest

rate

changes,

supply

chain

disruptions,

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.

Additionally,

the

Fund

may

also

be

exposed

to

credit

risk

in

the

event

that

an

issuer

or

guarantor

fails

to

perform

or

that

an

institution

or

entity

with

which

the

Fund

has

unsettled

or

open

transactions

defaults.

Subsidiary

Risk

—

The

Subsidiary

is

not

registered

under

the

Act

and

is

not

subject

to

all

the

investor

protections

of

the

Investment

Company

Act.

Changes

in

the

laws

of

the

United

States

and/or

the

Cayman

Islands

could

result

in

the

inability

of

the

Fund

and/or

the

Subsidiary

to

operate

as

described

in

the

Prospectus

and

the

SAI

and

could

adversely

affect

the

Fund.

Tax

Risk

—

The

Fund

seeks

to

gain

exposure

to

the

commodity

markets

primarily

through

investments

in

the

Subsidiary.

The

tax

treatment

of

the

Fund's

investments

in

the

Subsidiary

could

affect

whether

income

derived

from

such

investments

is

"qualifying

income"

under

Subchapter

M

of

the

Internal

Revenue

Code

of

1986,

as

amended

(the

"Code"),

or

otherwise

affect

the

character,

timing

and/or

amount

of

the

Fund's

taxable

income

or

any

gains

and

distributions

made

by

the

Fund.

If

the

IRS

were

to

successfully

assert

that

a

Fund's

income

from

such

investments

was

not

"qualifying

income,"

the

Fund

may

fail

to

qualify

as

a

regulated

investment

company

("RIC")

under

Subchapter

M

of

the

Code

if

over

10%

of

its

gross

income

was

derived

from

these

investments.

If

the

Fund

failed

to

qualify

as

a

RIC,

it

would

be

subject

to

federal

and

state

income

tax

on

all

of

its

taxable

income

at

regular

corporate

tax

rates

with

no

deduction

for

any

distributions

paid

to

shareholders,

which

would

significantly

adversely

affect

the

returns

to,

and

could

cause

substantial

losses

for,

Fund

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 Managed Futures Strategy Fund

- **b. EDGAR series identifier (if any):** S000034856

- **c. LEI of Series:** 3J24L49YUVS4LPAV0F85

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $227261850.70

**Total Liabilities:** $57809168.11

**Net Assets:** $169452682.59

**Amount of Assets Invested in Other Investment Companies:** $34564853.40

**Cash Not Reported:** $21984590.74

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000201775 | 0.70%                | 2.20%                | 2.61%                |
| Class ID C000200310 | 0.70%                | 2.20%                | 2.60%                |
| Class ID C000107197 | 0.59%                | 2.24%                | 2.65%                |
| Class ID C000107194 | 0.54%                | 2.16%                | 2.64%                |
| Class ID C000107196 | 0.63%                | 2.14%                | 2.59%                |
| Class ID C000107195 | 0.58%                | 2.32%                | 2.60%                |
| Class ID C000107193 | 0.61%                | 2.19%                | 2.62%                |

**Monthly Gains & Losses**

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

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| HSBC SECURITIES (USA) INC.                     | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $4738.95      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                     | CURRENCY CONTRACT - EUR                        | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $863.70       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC.                          | CURRENCY CONTRACT - PLN                        | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | N/A              | DFE              | CORP              | US        |         1 | NC      | $278.52       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED BANK                        | CURRENCY CONTRACT - CZK                        | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $31090.58     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.                  | CURRENCY CONTRACT - HUF                        | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DFE              | CORP              | US        |         1 | NC      | $77.41        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| THE LONDON METAL EXCHANGE                      | LME LEAD                                       | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |        15 | NC      | $-7226.40     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| RBC Capital Markets, LLC                       | CURRENCY CONTRACT - GBP                        | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | N/A              | DFE              | CORP              | US        |         1 | NC      | $723.49       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.                  | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DFE              | CORP              | US        |         1 | NC      | $218.85       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ICE FUTURES U.S., INC.                         | SUGAR #11 (WORLD)                              | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DCO              | CORP              | US        |         1 | NC      | $232.05       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES U.S., INC.                         | MSCI EMGMKT                                    | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DE               | CORP              | US        |        27 | NC      | $18005.45     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                      | IRS JPY                                        | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-70457.38    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| THE LONDON METAL EXCHANGE                      | LME PRI ALUM                                   | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |        15 | NC      | $6007.35      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT              | EURO-OAT                                       | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |       -21 | NC      | $-8377.12     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK MERCANTILE EXCHANGE, INC.             | NATURAL GAS                                    | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              | CORP              | US        |       -67 | NC      | $51915.08     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC Capital Markets, LLC                       | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | N/A              | DFE              | CORP              | US        |         1 | NC      | $377.87       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED BANK                        | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $453.19       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| THE LONDON METAL EXCHANGE                      | LME PRI ALUM                                   | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |         7 | NC      | $13326.18     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                      | IRS USD                                        | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-3791.63     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                      | IRS EUR                                        | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $379399.26    | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| MONTREAL EXCHANGE INC.                         | S&P/TSX 60 IX                                  | CUSIP: 000000000<br>LEI: 549300DKBYNOI0B1NP44 | N/A              | DE               | CORP              | CA        |        21 | NC      | $108790.28    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS Securities LLC                             | CURRENCY CONTRACT - BRL                        | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-4596.58     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| THE LONDON METAL EXCHANGE                      | LME COPPER                                     | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |        -2 | NC      | $4340.98      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| STANDARD CHARTERED BANK                        | CURRENCY CONTRACT - NOK                        | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $3178.75      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED BANK                        | CURRENCY CONTRACT - SEK                        | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $780.54       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| STATE STREET GLOBAL MARKETS, LLC               | CURRENCY CONTRACT - MXN                        | CUSIP: 000000000<br>LEI: 549300FDEDF5ORXCMQ56 | N/A              | DFE              | CORP              | US        |         1 | NC      | $705.01       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                     | CURRENCY CONTRACT - EUR                        | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $727.05       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| STATE STREET GLOBAL MARKETS, LLC               | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: 549300FDEDF5ORXCMQ56 | N/A              | DFE              | CORP              | US        |         1 | NC      | $157.70       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NEW YORK MERCANTILE EXCHANGE, INC.             | PALLADIUM                                      | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              | CORP              | US        |         6 | NC      | $67023.44     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| STATE STREET GLOBAL MARKETS, LLC               | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: 549300FDEDF5ORXCMQ56 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-164.87      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| STATE STREET GLOBAL MARKETS, LLC               | CURRENCY CONTRACT - MXN                        | CUSIP: 000000000<br>LEI: 549300FDEDF5ORXCMQ56 | N/A              | DFE              | CORP              | US        |         1 | NC      | $1278.35      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| EURONEXT PARIS SA                              | MILL WHEAT EURO                                | CUSIP: 000000000<br>LEI: 969500HMVSZ0TCV65D58 | N/A              | DCO              | CORP              | FR        |       -87 | NC      | $60740.13     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                       | CURRENCY CONTRACT - CZK                        | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $1156.32      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America, National Association          | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-6376.91     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC Capital Markets, LLC                       | CURRENCY CONTRACT - GBP                        | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | N/A              | DFE              | CORP              | US        |         1 | NC      | $5852.11      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ICE FUTURES U.S., INC.                         | MSCI EAFE                                      | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DE               | CORP              | US        |       -92 | NC      | $5011.40      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.    | DJIA MINI E-CBOT                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DE               | CORP              | US        |        37 | NC      | $39593.39     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                     | CURRENCY CONTRACT - GBP                        | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-2362.92     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| TD SECURITIES INC./ VALEURS MOBILIERES TD INC. | CURRENCY CONTRACT - SEK                        | CUSIP: 000000000<br>LEI: 5493006RJSLS5DA4PD75 | N/A              | DFE              | CORP              | US        |         1 | NC      | $25190.85     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| RBC Capital Markets, LLC                       | CURRENCY CONTRACT - MXN                        | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | N/A              | DFE              | CORP              | US        |         1 | NC      | $107.97       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.               | CATTLE FEEDER                                  | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DCO              | CORP              | US        |         5 | NC      | $6808.90      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.    | WHEAT (CBT)                                    | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              | CORP              | US        |       -44 | NC      | $43067.26     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| TD SECURITIES INC./ VALEURS MOBILIERES TD INC. | CURRENCY CONTRACT - HUF                        | CUSIP: 000000000<br>LEI: 5493006RJSLS5DA4PD75 | N/A              | DFE              | CORP              | US        |         1 | NC      | $39859.28     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| NEW YORK MERCANTILE EXCHANGE, INC.             | PLATINUM                                       | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              | CORP              | US        |        12 | NC      | $122819.19    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| STATE STREET GLOBAL MARKETS, LLC               | CURRENCY CONTRACT - CZK                        | CUSIP: 000000000<br>LEI: 549300FDEDF5ORXCMQ56 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-73.48       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                      | IRS JPY                                        | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $143966.79    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.                   | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $284.32       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| THE LONDON METAL EXCHANGE                      | LME PRI ALUM                                   | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |        -7 | NC      | $-14078.82    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| STANDARD CHARTERED BANK                        | CURRENCY CONTRACT - GBP                        | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-9441.68     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC Capital Markets, LLC                       | CURRENCY CONTRACT - GBP                        | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | N/A              | DFE              | CORP              | US        |         1 | NC      | $216.03       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| EURONEXT PARIS SA                              | CAC40 10 EURO                                  | CUSIP: 000000000<br>LEI: 969500HMVSZ0TCV65D58 | N/A              | DE               | CORP              | FR        |         9 | NC      | $5176.40      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                     | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $337.21       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.                  | CURRENCY CONTRACT - COP                        | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DFE              | CORP              | US        |         1 | NC      | $235.17       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| STATE STREET GLOBAL MARKETS, LLC               | CURRENCY CONTRACT - ZAR                        | CUSIP: 000000000<br>LEI: 549300FDEDF5ORXCMQ56 | N/A              | DFE              | CORP              | US        |         1 | NC      | $117.27       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| STATE STREET GLOBAL MARKETS, LLC               | CURRENCY CONTRACT - MXN                        | CUSIP: 000000000<br>LEI: 549300FDEDF5ORXCMQ56 | N/A              | DFE              | CORP              | US        |         1 | NC      | $64562.86     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| THE LONDON METAL EXCHANGE                      | LME NICKEL                                     | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |         1 | NC      | $-708.88      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                     | CURRENCY CONTRACT - BRL                        | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $1375.24      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                      | IRS USD                                        | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-230401.60   | -0.14%            |  |  |  | No            |                  2 | On Loan: No      |
| ICE FUTURES U.S., INC.                         | COTTON NO.2                                    | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DCO              | CORP              | US        |       -31 | NC      | $28920.75     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| STATE STREET GLOBAL MARKETS, LLC               | CURRENCY CONTRACT - ZAR                        | CUSIP: 000000000<br>LEI: 549300FDEDF5ORXCMQ56 | N/A              | DFE              | CORP              | US        |         1 | NC      | $855.76       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                       | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $11355.26     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED BANK                        | CURRENCY CONTRACT - SEK                        | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $438.84       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SINGAPORE EXCHANGE LIMITED                     | FTSE CHINA A50                                 | CUSIP: 000000000<br>LEI: 549300IQ650PPXM76X03 | N/A              | DE               | CORP              | SG        |       198 | NC      | $19999.22     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                     | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $19.10        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED BANK                        | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $514.68       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| THE STOCK EXCHANGE OF THAILAND                 | SET50                                          | CUSIP: 000000000<br>LEI: 254900R211PTUP8K9M82 | N/A              | DE               | CORP              | TH        |       140 | NC      | $16838.58     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| STATE STREET GLOBAL MARKETS, LLC               | CURRENCY CONTRACT - ZAR                        | CUSIP: 000000000<br>LEI: 549300FDEDF5ORXCMQ56 | N/A              | DFE              | CORP              | US        |         1 | NC      | $284.77       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HONG KONG FUTURES EXCHANGE                     | HSCEI                                          | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | HK        |        39 | NC      | $66979.91     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                     | CURRENCY CONTRACT - AUD                        | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $984.79       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| OSAKA EXCHANGE,INC                             | NIKKEI 225 (OSE)                               | CUSIP: 000000000<br>LEI: 3538001249AILNPRUX57 | N/A              | DE               | CORP              | JP        |        17 | NC      | $257502.22    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.    | KC HRW WHEAT                                   | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              | CORP              | US        |       -36 | NC      | $51356.23     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| STANDARD CHARTERED BANK                        | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-1233.68     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT              | EURO-BTP                                       | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |        21 | NC      | $12131.78     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                       | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $255.24       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| AUSTRALIAN SECURITIES EXCHANGE TRADE24         | SPI 200                                        | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | AU        |        48 | NC      | $-27861.90    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES U.S., INC.                         | SUGAR #11 (WORLD)                              | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DCO              | CORP              | US        |        -1 | NC      | $-551.95      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.               | E-MINI RUSS 2000                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               | CORP              | US        |       -13 | NC      | $-6616.35     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| STANDARD CHARTERED BANK                        | CURRENCY CONTRACT - SEK                        | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-12622.55    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                       | CURRENCY CONTRACT - MXN                        | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $122.45       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| STATE STREET GLOBAL MARKETS, LLC               | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: 549300FDEDF5ORXCMQ56 | N/A              | DFE              | CORP              | US        |         1 | NC      | $1003.66      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                      | IRS SEK                                        | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $1466.58      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| THE LONDON METAL EXCHANGE                      | LME LEAD                                       | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |       -16 | NC      | $2476.34      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Financial Square Government Fund | Goldman Sachs Financial Square Government Fund | CUSIP: 38141W273<br>LEI: 549300BRJMXN4GUWZ402 | Long             | STIV             | RF                | US        | 138114571 | NS      | $138114570.68 | 81.51%            |  |  |  | No            |                  1 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                     | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-12361.74    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                     | CURRENCY CONTRACT - EUR                        | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $11129.59     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                      | IRS GBP                                        | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $164526.99    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT              | DAX INDEX                                      | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DE               | CORP              | DE        |        11 | NC      | $90855.59     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                      | IRS CAD                                        | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $60515.48     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| STATE STREET GLOBAL MARKETS, LLC               | CURRENCY CONTRACT - PLN                        | CUSIP: 000000000<br>LEI: 549300FDEDF5ORXCMQ56 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-30.27       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.               | S&P500 EMINI                                   | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               | CORP              | US        |       124 | NC      | $558341.92    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                      | IRS JPY                                        | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $68736.61     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank Securities Inc.                  | CURRENCY CONTRACT - BRL                        | CUSIP: 000000000<br>LEI: 9J6MBOOO7BECTDTUZW19 | N/A              | DFE              | CORP              | US        |         1 | NC      | $1975.95      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| THE STOCK EXCHANGE OF THAILAND                 | SET50                                          | CUSIP: 000000000<br>LEI: 254900R211PTUP8K9M82 | N/A              | DE               | CORP              | TH        |       161 | NC      | $-5077.61     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                       | CURRENCY CONTRACT - HUF                        | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $1598.71      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC.                          | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-1296.59     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                     | CURRENCY CONTRACT - NOK                        | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $80842.54     | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                     | CURRENCY CONTRACT - BRL                        | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $59126.78     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED BANK                        | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-163.70      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC Capital Markets, LLC                       | CURRENCY CONTRACT - CAD                        | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-517.39      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MEFF RENTA VARIABLE (MADRID)                   | IBEX 35 INDX                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | ES        |        11 | NC      | $26047.68     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| STANDARD CHARTERED BANK                        | CURRENCY CONTRACT - JPY                        | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $80.76        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| THE LONDON METAL EXCHANGE                      | LME ZINC                                       | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |         3 | NC      | $1099.47      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.    | SOYBEAN MEAL                                   | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              | CORP              | US        |       -48 | NC      | $46441.60     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                      | IRS USD                                        | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $576568.86    | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                       | CURRENCY CONTRACT - EUR                        | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-31.33       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                     | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-2371.39     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS Securities LLC                             | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |         1 | NC      | $2945.13      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| COMMODITY EXCHANGE, INC.                       | SILVER                                         | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              | CORP              | US        |         8 | NC      | $310926.81    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| STATE STREET GLOBAL MARKETS, LLC               | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: 549300FDEDF5ORXCMQ56 | N/A              | DFE              | CORP              | US        |         1 | NC      | $284.48       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| STATE STREET GLOBAL MARKETS, LLC               | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: 549300FDEDF5ORXCMQ56 | N/A              | DFE              | CORP              | US        |         1 | NC      | $28.94        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America, National Association          | CURRENCY CONTRACT - HUF                        | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |         1 | NC      | $231.69       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED BANK                        | CURRENCY CONTRACT - COP                        | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-739.92      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                      | IRS JPY                                        | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-28452.98    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.    | CORN                                           | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              | CORP              | US        |      -190 | NC      | $-144527.00   | -0.09%            |  |  |  | No            |                  1 | On Loan: No      |
| BORSA ITALIANA S.P.A.                          | FTSE/MIB INDEX                                 | CUSIP: 000000000<br>LEI: 8156005391EE905D3124 | N/A              | DE               | CORP              | IT        |         8 | NC      | $5059.41      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BARCLAYS CAPITAL INC.                          | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-254.72      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                     | CURRENCY CONTRACT - EUR                        | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $104856.02    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America, National Association          | CURRENCY CONTRACT - AUD                        | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |         1 | NC      | $5314.09      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CBOE FUTURES EXCHANGE, LLC                     | CBOE VIX                                       | CUSIP: 000000000<br>LEI: 254900O9GJPIWCP8RH13 | N/A              | DE               | CORP              | US        |        14 | NC      | $-3605.55     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.               | IRS MXN                                        | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              | CORP              | US        |         1 | NC      | $119223.36    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| RBC Capital Markets, LLC                       | CURRENCY CONTRACT - GBP                        | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | N/A              | DFE              | CORP              | US        |         1 | NC      | $436.73       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| KOREA EXCHANGE, INC.                           | KOSPI2 INX                                     | CUSIP: 000000000<br>LEI: 549300TJ3RRV6Q1UEW14 | N/A              | DE               | CORP              | KR        |        34 | NC      | $254690.19    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| THE LONDON METAL EXCHANGE                      | LME NICKEL                                     | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |         9 | NC      | $-3099.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                     | CURRENCY CONTRACT - AUD                        | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $16242.25     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                      | IRS CHF                                        | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $14784.23     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                       | CURRENCY CONTRACT - EUR                        | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $3453.17      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BMO CAPITAL MARKETS CORP.                      | CURRENCY CONTRACT - MXN                        | CUSIP: 000000000<br>LEI: RUC0QBLBRPRCU4W1NE59 | N/A              | DFE              | CORP              | US        |         1 | NC      | $1094.17      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RBC Capital Markets, LLC                       | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-238.77      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT              | VSTOXX                                         | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DE               | CORP              | DE        |       152 | NC      | $-7282.75     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| SINGAPORE EXCHANGE LIMITED                     | FTSE TAIWAN INDEX                              | CUSIP: 000000000<br>LEI: 549300IQ650PPXM76X03 | N/A              | DE               | CORP              | SG        |        23 | NC      | $-3094.28     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                     | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $80.26        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| THE LONDON METAL EXCHANGE                      | LME COPPER                                     | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |        19 | NC      | $243529.81    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                      | IRS GBP                                        | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-340513.87   | -0.20%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.                  | CURRENCY CONTRACT - COP                        | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DFE              | CORP              | US        |         1 | NC      | $1211.85      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                     | CURRENCY CONTRACT - PLN                        | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $10946.77     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.                  | CURRENCY CONTRACT - NOK                        | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DFE              | CORP              | US        |         1 | NC      | $10279.31     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                     | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $2082.95      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| THE LONDON METAL EXCHANGE                      | LME ZINC                                       | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |        -6 | NC      | $-30173.56    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| STANDARD CHARTERED BANK                        | CURRENCY CONTRACT - CZK                        | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $2616.21      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED BANK                        | CURRENCY CONTRACT - NOK                        | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-828.94      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| THE LONDON METAL EXCHANGE                      | LME NICKEL                                     | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |        -9 | NC      | $2995.32      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS Securities LLC                             | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |         1 | NC      | $28474.71     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                     | CURRENCY CONTRACT - ZAR                        | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $67398.78     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| TD SECURITIES INC./ VALEURS MOBILIERES TD INC. | CURRENCY CONTRACT - SEK                        | CUSIP: 000000000<br>LEI: 5493006RJSLS5DA4PD75 | N/A              | DFE              | CORP              | US        |         1 | NC      | $1300.49      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.               | LIVE CATTLE                                    | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DCO              | CORP              | US        |         7 | NC      | $-4892.54     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                     | CURRENCY CONTRACT - BRL                        | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $221.32       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.                   | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-4982.32     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| STATE STREET GLOBAL MARKETS, LLC               | CURRENCY CONTRACT - ZAR                        | CUSIP: 000000000<br>LEI: 549300FDEDF5ORXCMQ56 | N/A              | DFE              | CORP              | US        |         1 | NC      | $3132.94      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                     | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-1771.65     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                     | CURRENCY CONTRACT - AUD                        | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-27649.98    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.                   | CURRENCY CONTRACT - AUD                        | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $1299.80      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank Securities Inc.                  | CURRENCY CONTRACT - COP                        | CUSIP: 000000000<br>LEI: 9J6MBOOO7BECTDTUZW19 | N/A              | DFE              | CORP              | US        |         1 | NC      | $46792.09     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| HONG KONG FUTURES EXCHANGE                     | HANG SENG INDEX                                | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | HK        |        22 | NC      | $92524.42     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| STANDARD CHARTERED BANK                        | CURRENCY CONTRACT - SEK                        | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $123.63       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED BANK                        | CURRENCY CONTRACT - JPY                        | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $124.18       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RBC Capital Markets, LLC                       | CURRENCY CONTRACT - GBP                        | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | N/A              | DFE              | CORP              | US        |         1 | NC      | $272.88       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                      | IRS EUR                                        | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-705043.38   | -0.42%            |  |  |  | No            |                  2 | On Loan: No      |
| THE LONDON METAL EXCHANGE                      | LME COPPER                                     | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |        20 | NC      | $152539.80    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                      | IRS EUR                                        | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $3820.56      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.               | LEAN HOGS                                      | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DCO              | CORP              | US        |        16 | NC      | $1078.48      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| OMX NORDIC EXCHANGE STOCKHOLM                  | OMXS30 IND                                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | SE        |       119 | NC      | $32607.93     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| THE LONDON METAL EXCHANGE                      | LME COPPER                                     | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |       -19 | NC      | $-202797.69   | -0.12%            |  |  |  | No            |                  1 | On Loan: No      |
| STANDARD CHARTERED BANK                        | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-2527.50     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| THE LONDON METAL EXCHANGE                      | LME ZINC                                       | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |         6 | NC      | $23515.94     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| COMMODITY EXCHANGE, INC.                       | GOLD 100 OZ                                    | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              | CORP              | US        |        18 | NC      | $828740.32    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                     | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $76.82        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| TD SECURITIES INC./ VALEURS MOBILIERES TD INC. | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: 5493006RJSLS5DA4PD75 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-418.20      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                      | IRS CZK                                        | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $116309.94    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                      | IRS USD                                        | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-6297.60     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| STATE STREET GLOBAL MARKETS, LLC               | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: 549300FDEDF5ORXCMQ56 | N/A              | DFE              | CORP              | US        |         1 | NC      | $98.71        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| OSAKA EXCHANGE,INC                             | TOPIX INDX                                     | CUSIP: 000000000<br>LEI: 3538001249AILNPRUX57 | N/A              | DE               | CORP              | JP        |        28 | NC      | $123177.20    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                      | IRS CHF                                        | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $456377.25    | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| ICE FUTURES U.S., INC.                         | COCOA                                          | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DCO              | CORP              | US        |         1 | NC      | $-8543.15     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.                  | CURRENCY CONTRACT - BRL                        | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DFE              | CORP              | US        |         1 | NC      | $774.00       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.               | S&P MID 400 EMINI                              | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               | CORP              | US        |        16 | NC      | $-93466.20    | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                       | CURRENCY CONTRACT - MXN                        | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $3030.77      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED BANK                        | CURRENCY CONTRACT - CZK                        | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-6.60        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT              | EURO STOXX 50                                  | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DE               | CORP              | DE        |        38 | NC      | $43702.29     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| STATE STREET GLOBAL MARKETS, LLC               | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: 549300FDEDF5ORXCMQ56 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-4511.81     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED BANK                        | CURRENCY CONTRACT - AUD                        | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $167.49       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| STATE STREET GLOBAL MARKETS, LLC               | CURRENCY CONTRACT - PLN                        | CUSIP: 000000000<br>LEI: 549300FDEDF5ORXCMQ56 | N/A              | DFE              | CORP              | US        |         1 | NC      | $73.66        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ICE FUTURES EUROPE                             | FTSE 100 INDEX                                 | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DE               | CORP              | GB        |        47 | NC      | $68458.73     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                     | CURRENCY CONTRACT - PLN                        | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $297.37       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| STATE STREET GLOBAL MARKETS, LLC               | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: 549300FDEDF5ORXCMQ56 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-11083.88    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                      | IRS GBP                                        | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $290809.29    | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| THE LONDON METAL EXCHANGE                      | LME LEAD                                       | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |       -15 | NC      | $9076.10      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| STANDARD CHARTERED BANK                        | CURRENCY CONTRACT - GBP                        | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-490.24      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED BANK                        | CURRENCY CONTRACT - NOK                        | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-4373.73     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| THE LONDON METAL EXCHANGE                      | LME NICKEL                                     | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |        -9 | NC      | $2094.24      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                      | IRS EUR                                        | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $502655.28    | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.    | SOYBEAN OIL                                    | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              | CORP              | US        |        14 | NC      | $-18337.68    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| STANDARD CHARTERED BANK                        | CURRENCY CONTRACT - NZD                        | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-28767.65    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| THE STOCK EXCHANGE OF THAILAND                 | SET50                                          | CUSIP: 000000000<br>LEI: 254900R211PTUP8K9M82 | N/A              | DE               | CORP              | TH        |      -140 | NC      | $-135125.29   | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| SOUTH AFRICAN FUTURES EXCHANGE                 | FTSE/JSE TOP 40                                | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | ZA        |        34 | NC      | $80937.70     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| STANDARD CHARTERED BANK                        | CURRENCY CONTRACT - NZD                        | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-179.85      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| NEW YORK MERCANTILE EXCHANGE, INC.             | NY HARB ULSD                                   | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              | CORP              | US        |        18 | NC      | $14047.10     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.               | NASDAQ 100 E-MINI                              | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               | CORP              | US        |        19 | NC      | $242924.11    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                       | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $1992.83      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                      | IRS CAD                                        | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $76979.34     | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| TD SECURITIES INC./ VALEURS MOBILIERES TD INC. | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: 5493006RJSLS5DA4PD75 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-9867.10     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| STATE STREET GLOBAL MARKETS, LLC               | CURRENCY CONTRACT - PLN                        | CUSIP: 000000000<br>LEI: 549300FDEDF5ORXCMQ56 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-14.08       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| STATE STREET GLOBAL MARKETS, LLC               | CURRENCY CONTRACT - PLN                        | CUSIP: 000000000<br>LEI: 549300FDEDF5ORXCMQ56 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-546.43      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                     | CURRENCY CONTRACT - EUR                        | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $11265.96     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                     | CURRENCY CONTRACT - EUR                        | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-291.06      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                      | IRS ZAR                                        | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $125516.14    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| ICE FUTURES U.S., INC.                         | COFFEE 'C'                                     | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DCO              | CORP              | US        |         4 | NC      | $11556.10     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                       | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $330.32       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ICE FUTURES U.S., INC.                         | SUGAR #11 (WORLD)                              | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DCO              | CORP              | US        |       -50 | NC      | $-23632.70    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES EUROPE                             | LOW SU GASOIL G                                | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DCO              | CORP              | GB        |        30 | NC      | $29614.70     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                     | CURRENCY CONTRACT - USD                        | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-1969.83     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-26

**Name of Applicant:** Goldman Sachs Trust

**Signature:** Allison Frachiolla

**Name of Signer:** Allison Frachiolla

**Title:** Vice President Assistant Treasurer