# EDGAR Filing Document

**Accession Number:** 0001557156
**File Stem:** 0001752724-23-068177
**Filing Date:** 2023-3
**Character Count:** 200829
**Document Hash:** ff61379f07d4bd64135a1e0f3660b30b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-068177.hdr.sgml**: 20230327

**ACCESSION NUMBER**: 0001752724-23-068177

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230327

**DATE AS OF CHANGE**: 20230327

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Goldman Sachs Trust II
- **CENTRAL INDEX KEY:** 0001557156
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22781
- **FILM NUMBER:** 23764756

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

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

## Series and Classes Contracts Data

### Multi-Manager U.S. Small Cap Equity Fund (Series ID: S000051363)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000161913 | Class P Shares | MMSMX           |

## Nport-Ex

MULTI-MANAGER INTERNATIONAL EQUITY FUND

## Schedule of Investments
*January 31, 2023 (Unaudited)* 

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – 97.4%** | **Common Stocks – 97.4%** | **Common Stocks – 97.4%** |
| **Australia – 0.8%** | **Australia – 0.8%** | **Australia – 0.8%** |
| 50336 | CSL Ltd. (Biotechnology) | $10628467 |
| **Belgium – 0.5%** | **Belgium – 0.5%** | **Belgium – 0.5%** |
| 65084 | Anheuser-Busch InBev SA (Beverages) | 3928583 |
| 37492 | KBC Group NV (Banks) | 2776930 |
|  |  | 6705513 |
| **Brazil – 0.1%** | **Brazil – 0.1%** | **Brazil – 0.1%** |
| 518096 | Banco Bradesco SA ADR (Banks) | 1445488 |
| **Canada – 5.9%** | **Canada – 5.9%** | **Canada – 5.9%** |
| 86525 | Alimentation Couche-Tard, Inc. (Food & Staples Retailing) | 3951192 |
| 32677 | BRP, Inc. (Leisure Products) | 2726788 |
| 302665 | CAE, Inc.\* (Aerospace & Defense) | 6835582 |
| 95143 | Canadian National Railway Co. (Road & Rail) | 11327873 |
| 194029 | Canadian Pacific Railway Ltd. (Road & Rail) | 15310339 |
| 19015 | Intact Financial Corp. (Insurance) | 2758608 |
| 14972 | Lululemon Athletica, Inc.\* (Textiles, Apparel & Luxury Goods) | 4594607 |
| 93701 | National Bank of Canada (Banks) | 7038755 |
| 246426 | Suncor Energy, Inc. (Oil, Gas & Consumable Fuels) | 8552819 |
| 63933 | The Toronto-Dominion Bank (Banks) | 4423488 |
| 44886 | Thomson Reuters Corp. (Professional Services) | 5339563 |
| 36428 | TMX Group Ltd. (Capital Markets) | 3590371 |
|  |  | 76449985 |
| **China – 1.6%** | **China – 1.6%** | **China – 1.6%** |
| 3296000 | Beijing Capital International Airport Co. Ltd. Class H\* (Transportation Infrastructure) | 2506791 |
| 730000 | Li Ning Co. Ltd. (Textiles, Apparel & Luxury Goods) | 7216535 |
| 10810 | Meituan Class B\*<sup>(a)</sup> (Internet & Direct Marketing Retail) | 241667 |
| 159000 | NetEase, Inc. (Entertainment) | 2820996 |
| 105400 | Tencent Holdings Ltd. (Interactive Media & Services) | 5136027 |
| 51338 | Yum China Holdings, Inc. (Hotels, Restaurants & Leisure) | 3162934 |
|  |  | 21084950 |
| **Denmark – 3.1%** | **Denmark – 3.1%** | **Denmark – 3.1%** |
| 75111 | Carlsberg AS Class B Class B (Beverages) | 10662879 |
| 20311 | DSV A/S (Air Freight & Logistics) | 3360049 |
| 9346 | Genmab A/S\* (Biotechnology) | 3662664 |
| 140194 | Novo Nordisk A/S Class B (Pharmaceuticals) | 19401415 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **Denmark – (continued)** | **Denmark – (continued)** | **Denmark – (continued)** |
| 101354 | Vestas Wind Systems AS (Electrical Equipment) | $2965780 |
|  |  | 40052787 |
| **Finland – 0.4%** | **Finland – 0.4%** | **Finland – 0.4%** |
| 109821 | Sampo Oyj Class A Class A (Insurance) | 5765545 |
| **France – 14.0%** | **France – 14.0%** | **France – 14.0%** |
| 114354 | Air Liquide SA (Chemicals) | 18208149 |
| 49112 | Airbus SE (Aerospace & Defense) | 6156967 |
| 305349 | Alstom SA (Machinery) | 9079603 |
| 246470 | AXA SA (Insurance) | 7689623 |
| 34754 | BNP Paribas SA (Banks) | 2386970 |
| 145273 | Bureau Veritas SA (Professional Services) | 4153568 |
| 44355 | Capgemini SE (IT Services) | 8417939 |
| 201789 | Carrefour SA (Food & Staples Retailing) | 3838222 |
| 73159 | Cie de Saint-Gobain (Building Products) | 4201606 |
| 83700 | Cie Generale des Etablissements Michelin SCA (Auto Components) | 2646578 |
| 172488 | Danone SA (Food Products) | 9459113 |
| 54570 | Dassault Systemes SE (Software) | 2029507 |
| 563385 | Engie SA (Multi-Utilities) | 7999990 |
| 34075 | EssilorLuxottica SA (Health Care Equipment & Supplies) | 6252058 |
| 1022 | Kering SA (Textiles, Apparel & Luxury Goods) | 637684 |
| 38662 | Legrand SA (Electrical Equipment) | 3447261 |
| 7764 | L'Oreal SA (Personal Products) | 3205846 |
| 21389 | LVMH Moet Hennessy Louis Vuitton SE (Textiles, Apparel & Luxury Goods) | 18672075 |
| 104954 | Pernod Ricard SA (Beverages) | 21728623 |
| 77130 | Sanofi (Pharmaceuticals) | 7552911 |
| 124418 | Schneider Electric SE (Electrical Equipment) | 20182534 |
| 32249 | Thales SA (Aerospace & Defense) | 4265231 |
| 49055 | TotalEnergies SE (Oil, Gas & Consumable Fuels) | 3032617 |
| 79393 | Valeo (Auto Components) | 1735115 |
| 46106 | Vinci SA (Construction & Engineering) | 5209496 |
|  |  | 182189286 |
| **Germany – 7.5%** | **Germany – 7.5%** | **Germany – 7.5%** |
| 188648 | Bayer AG (Pharmaceuticals) | 11742382 |
| 57646 | Beiersdorf AG (Personal Products) | 7008463 |
| 801926 | BNP Paribas SA\* (Banks) | 11612097 |
| 53334 | Continental AG (Auto Components) | 3744858 |
| 41732 | Deutsche Boerse AG (Capital Markets) | 7467619 |

---

------

MULTI-MANAGER INTERNATIONAL EQUITY FUND

## Schedule of Investments (continued)
*January 31, 2023 (Unaudited)* 

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **Germany – (continued)** | **Germany – (continued)** | **Germany – (continued)** |
| 342511 | Deutsche Telekom AG\* (Diversified Telecommunication Services) | $7630734 |
| 130428 | Infineon Technologies AG (Semiconductors & Semiconductor Equipment) | 4696772 |
| 63588 | Merck KGaA (Pharmaceuticals) | 13272608 |
| 10804 | MTU Aero Engines AG (Aerospace & Defense) | 2700055 |
| 125753 | RWE AG (Independent Power and Renewable Electricity Producers) | 5598382 |
| 159563 | SAP SE (Software) | 18914592 |
| 85052 | Vonovia SE (Real Estate Management & Development) | 2402541 |
|  |  | 96791103 |
| **Hong Kong – 2.2%** | **Hong Kong – 2.2%** | **Hong Kong – 2.2%** |
| 2239190 | AIA Group Ltd. (Insurance) | 25319964 |
| 1429600 | ESR Group Ltd.<sup>(a)</sup> (Real Estate Management & Development) | 2862183 |
|  |  | 28182147 |
| **India – 1.4%** | **India – 1.4%** | **India – 1.4%** |
| 109013 | HDFC Bank Ltd. (Banks) | 2145227 |
| 192835 | Housing Development Finance Corp. Ltd. (Diversified Financial Services) | 6207823 |
| 326370 | ICICI Bank Ltd. ADR (Banks) | 6798287 |
| 58370 | Tata Consultancy Services Ltd. (IT Services) | 2409143 |
|  |  | 17560480 |
| **Ireland – 4.3%** | **Ireland – 4.3%** | **Ireland – 4.3%** |
| 46709 | Accenture PLC Class A Class A (IT Services) | 13034146 |
| 371248 | Experian PLC (Professional Services) | 13576344 |
| 56413 | ICON PLC\* (Life Sciences Tools & Services) | 13015043 |
| 175145 | Ryanair Holdings PLC ADR\* (Airlines) | 15855877 |
|  |  | 55481410 |
| **Israel – 0.9%** | **Israel – 0.9%** | **Israel – 0.9%** |
| 734608 | Bank Leumi Le-Israel BM (Banks) | 6492011 |
| 39573 | Check Point Software Technologies Ltd.\* (Software) | 5033686 |
| 3980 | CyberArk Software Ltd.\* (Software) | 560702 |
|  |  | 12086399 |
| **Italy – 3.5%** | **Italy – 3.5%** | **Italy – 3.5%** |
| 1869541 | Enel SpA (Electric Utilities) | 11008082 |
| 295787 | Eni SpA (Oil, Gas & Consumable Fuels) | 4551638 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **Italy – (continued)** | **Italy – (continued)** | **Italy – (continued)** |
| 36131 | Ferrari NV (Automobiles) | $9028565 |
| 1883415 | Intesa Sanpaolo SpA (Banks) | 4952006 |
| 799620 | UniCredit SpA (Banks) | 15617488 |
|  |  | 45157779 |
| **Japan – 10.0%** | **Japan – 10.0%** | **Japan – 10.0%** |
| 50000 | Advantest Corp. (Semiconductors & Semiconductor Equipment) | 3584049 |
| 97500 | BayCurrent Consulting, Inc. (Professional Services) | 4144681 |
| 61400 | Daikin Industries Ltd. (Building Products) | 10664847 |
| 79000 | Denso Corp. (Auto Components) | 4266450 |
| 69400 | FANUC Corp. (Machinery) | 12262255 |
| 151400 | Hitachi Ltd. (Industrial Conglomerates) | 7939787 |
| 24000 | Hoya Corp. (Health Care Equipment & Supplies) | 2639326 |
| 15300 | Keyence Corp. (Electronic Equipment, Instruments & Components) | 7043642 |
| 110200 | Kobe Bussan Co. Ltd. (Food & Staples Retailing) | 3181666 |
| 127400 | Koito Manufacturing Co. Ltd. (Auto Components) | 2149005 |
| 28700 | Kose Corp. (Personal Products) | 3166553 |
| 126900 | Kubota Corp. (Machinery) | 1907090 |
| 83200 | Kyocera Corp. (Electronic Equipment, Instruments & Components) | 4317365 |
| 28900 | Lasertec Corp. (Semiconductors & Semiconductor Equipment) | 5471432 |
| 113900 | Murata Manufacturing Co. Ltd. (Electronic Equipment, Instruments & Components) | 6508301 |
| 440100 | Olympus Corp. (Health Care Equipment & Supplies) | 8273709 |
| 15000 | Shimano, Inc. (Leisure Products) | 2675031 |
| 15200 | Shin-Etsu Chemical Co. Ltd. (Chemicals) | 2240830 |
| 8100 | SMC Corp. (Machinery) | 4114075 |
| 64800 | Sony Group Corp. (Household Durables) | 5789979 |
| 107600 | Sumitomo Mitsui Financial Group, Inc. (Banks) | 4676411 |
| 74300 | Suzuki Motor Corp. (Automobiles) | 2785669 |
| 209200 | Takeda Pharmaceutical Co. Ltd. (Pharmaceuticals) | 6576697 |
| 133300 | Terumo Corp. (Health Care Equipment & Supplies) | 3880410 |
| 18800 | Tokyo Electron Ltd. (Semiconductors & Semiconductor Equipment) | 6571054 |

---

------

MULTI-MANAGER INTERNATIONAL EQUITY FUND

*January 31, 2023 (Unaudited)* 

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **Japan – (continued)** | **Japan – (continued)** | **Japan – (continued)** |
| 80700 | Yamaha Corp. (Leisure Products) | $3137944 |
|  |  | 129968258 |
| **Luxembourg – 0.1%** | **Luxembourg – 0.1%** | **Luxembourg – 0.1%** |
| 39849 | ArcelorMittal SA (Metals & Mining) | 1236233 |
| **Macau\* – 0.2%** | **Macau\* – 0.2%** | **Macau\* – 0.2%** |
| 716400 | Sands China Ltd. (Hotels, Restaurants & Leisure) | 2686561 |
| **Mexico – 0.4%** | **Mexico – 0.4%** | **Mexico – 0.4%** |
| 577700 | Arca Continental SAB de CV (Beverages) | 5103137 |
| **Netherlands – 4.0%** | **Netherlands – 4.0%** | **Netherlands – 4.0%** |
| 4227 | Adyen NV\*<sup>(a)</sup> (IT Services) | 6390831 |
| 200216 | Akzo Nobel NV (Chemicals) | 14913082 |
| 16278 | ASM International NV (Semiconductors & Semiconductor Equipment) | 5505316 |
| 11320 | ASML Holding NV (Semiconductors & Semiconductor Equipment) | 7480709 |
| 359791 | Koninklijke Philips NV (Health Care Equipment & Supplies) | 6211954 |
| 61870 | QIAGEN NV\* (Life Sciences Tools & Services) | 3018210 |
| 43816 | Randstad NV (Professional Services) | 2808533 |
| 237041 | Universal Music Group NV (Entertainment) | 6059328 |
|  |  | 52387963 |
| **Portugal – 0.6%** | **Portugal – 0.6%** | **Portugal – 0.6%** |
| 910264 | EDP - Energias de Portugal SA (Electric Utilities) | 4522426 |
| 213379 | Galp Energia SGPS SA (Oil, Gas & Consumable Fuels) | 2920741 |
|  |  | 7443167 |
| **Singapore – 0.8%** | **Singapore – 0.8%** | **Singapore – 0.8%** |
| 370800 | DBS Group Holdings Ltd. (Banks) | 10151121 |
| **South Korea – 1.7%** | **South Korea – 1.7%** | **South Korea – 1.7%** |
| 39895 | Samsung Electronics Co. Ltd. (Technology Hardware, Storage & Peripherals) | 1987179 |
| 9069 | Samsung Electronics Co. Ltd. GDR (Technology Hardware, Storage & Peripherals) | 11239779 |
| 117114 | SK Hynix, Inc. (Semiconductors & Semiconductor Equipment) | 8472475 |
|  |  | 21699433 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **Spain – 2.3%** | **Spain – 2.3%** | **Spain – 2.3%** |
| 44066 | Aena SME SA\*<sup>(a)</sup> (Transportation Infrastructure) | $6620871 |
| 201223 | Amadeus IT Group SA\* (IT Services) | 12677844 |
| 181729 | CaixaBank SA (Banks) | 806324 |
| 320605 | Iberdrola SA (Electric Utilities) | 3761263 |
| 195559 | Industria de Diseno Textil SA (Specialty Retail) | 6105510 |
|  |  | 29971812 |
| **Sweden – 1.5%** | **Sweden – 1.5%** | **Sweden – 1.5%** |
| 296546 | Atlas Copco AB Class A Class A (Machinery) | 3518833 |
| 63229 | Evolution AB<sup>(a)</sup> (Hotels, Restaurants & Leisure) | 7106374 |
| 281671 | Hexagon AB Class B Class B (Electronic Equipment, Instruments & Components) | 3228936 |
| 214463 | Swedbank AB Class A (Banks) | 4125499 |
| 186150 | Volvo Car AB Class B\* (Automobiles) | 928795 |
|  |  | 18908437 |
| **Switzerland – 9.6%** | **Switzerland – 9.6%** | **Switzerland – 9.6%** |
| 147787 | ABB Ltd. (Electrical Equipment) | 5145301 |
| 100701 | Alcon, Inc. (Health Care Equipment & Supplies) | 7598747 |
| 70615 | Cie Financiere Richemont SA Class A Class A (Textiles, Apparel & Luxury Goods) | 10885811 |
| 93389 | Idorsia Ltd.\* (Biotechnology) | 1570870 |
| 49318 | Julius Baer Group Ltd. (Capital Markets) | 3163469 |
| 6644 | Lonza Group AG (Life Sciences Tools & Services) | 3790012 |
| 171599 | Nestle SA (Food Products) | 20936630 |
| 147008 | Novartis AG (Pharmaceuticals) | 13290852 |
| 86290 | Roche Holding AG (Pharmaceuticals) | 26937181 |
| 38647 | Sika AG (Chemicals) | 10981424 |
| 9159 | Sonova Holding AG (Health Care Equipment & Supplies) | 2290406 |
| 383283 | UBS Group AG (Capital Markets) | 8181319 |
| 19618 | Zurich Insurance Group AG (Insurance) | 9701660 |
|  |  | 124473682 |
| **Taiwan – 0.6%** | **Taiwan – 0.6%** | **Taiwan – 0.6%** |
| 243000 | Taiwan Semiconductor Manufacturing Co. Ltd. (Semiconductors & Semiconductor Equipment) | 4288168 |

---

------

MULTI-MANAGER INTERNATIONAL EQUITY FUND

*January 31, 2023 (Unaudited)* 

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **Taiwan – (continued)** | **Taiwan – (continued)** | **Taiwan – (continued)** |
| 44973 | Taiwan Semiconductor Manufacturing Co. Ltd. ADR (Semiconductors & Semiconductor Equipment) | $4170346 |
|  |  | 8458514 |
| **United Kingdom – 15.2%** | **United Kingdom – 15.2%** | **United Kingdom – 15.2%** |
| 113004 | AstraZeneca PLC (Pharmaceuticals) | 14804932 |
| 4054230 | Barclays PLC (Banks) | 9319827 |
| 38899 | Berkeley Group Holdings PLC (Household Durables) | 1991926 |
| 580137 | BP PLC (Oil, Gas & Consumable Fuels) | 3504171 |
| 74382 | British American Tobacco PLC (Tobacco) | 2851345 |
| 146012 | Coca-Cola European Partners PLC (Beverages) | 8174798 |
| 866460 | Compass Group PLC (Hotels, Restaurants & Leisure) | 20697999 |
| 129857 | Diageo PLC (Beverages) | 5678136 |
| 34935 | Ferguson PLC (Trading Companies & Distributors) | 4922165 |
| 212750 | GSK PLC (Pharmaceuticals) | 3736957 |
| 808894 | HSBC Holdings PLC (Banks) | 5960211 |
| 421676 | Informa PLC (Media) | 3487576 |
| 30221 | Linde PLC\* (Chemicals) | 9997698 |
| 39456 | London Stock Exchange Group PLC (Capital Markets) | 3611995 |
| 943933 | Prudential PLC (Insurance) | 15683495 |
| 198131 | Reckitt Benckiser Group PLC (Household Products) | 14118993 |
| 777945 | RELX PLC (Professional Services) | 23118073 |
| 164264 | Rio Tinto PLC (Metals & Mining) | 12862073 |
| 12405775 | Rolls-Royce Holdings PLC\* (Aerospace & Defense) | 16230887 |
| 1085641 | Tesco PLC (Food & Staples Retailing) | 3299675 |
| 152605 | Unilever PLC (Personal Products) | 7767450 |
| 240657 | WH Smith PLC (Specialty Retail) | 4752387 |
|  |  | 196572769 |
| **United States – 4.2%** | **United States – 4.2%** | **United States – 4.2%** |
| 66951 | Aon PLC Class A (Insurance) | 21335945 |
| 37247 | Atlassian Corp. PLC Class A Class A\* (Software) | 6019860 |
| 18740 | EPAM Systems, Inc.\* (IT Services) | 6233861 |
| 3630 | Mettler-Toledo International, Inc.\* (Life Sciences Tools & Services) | 5564499 |
| 20798 | ResMed, Inc. (Health Care Equipment & Supplies) | 4749639 |
| 30519 | STERIS PLC (Health Care Equipment & Supplies) | 6302479 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **United States – (continued)** | **United States – (continued)** | **United States – (continued)** |
| 31739 | Waste Connections, Inc. (Commerical Services & Supplies) | $4218113 |
|  |  | 54424396 |
| **TOTAL COMMON STOCKS<br>(Cost $1,023,316,217)** | **TOTAL COMMON STOCKS<br>(Cost $1,023,316,217)** | $1263066822 |
| **Shares** | **Dividend<br>Rate** | **Value** |
| **Investment Company<sup>(b)</sup> – 2.3%** | **Investment Company<sup>(b)</sup> – 2.3%** | **Investment Company<sup>(b)</sup> – 2.3%** |
| Goldman Sachs Financial Square Government Fund - Institutional<br>Shares | Goldman Sachs Financial Square Government Fund - Institutional<br>Shares | Goldman Sachs Financial Square Government Fund - Institutional<br>Shares |
| 29779425 | 4.237% | $29779425 |
| **(Cost $29,779,425)** | **(Cost $29,779,425)** |  |
| **TOTAL INVESTMENTS – 99.7%<br>(Cost $1,053,095,642)** | **TOTAL INVESTMENTS – 99.7%<br>(Cost $1,053,095,642)** | $1292846247 |
| **OTHER ASSETS IN EXCESS OF<br> LIABILITIES – 0.3%** | **OTHER ASSETS IN EXCESS OF<br> LIABILITIES – 0.3%** | 3546501 |
| **NET ASSETS – 100.0%** | **NET ASSETS – 100.0%** | $1296392748 |

---

---

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

---

---

| | |
|:---|:---|
| **Sector** | **% of Total<br>Market Value** |
| Industrials | 18.9% |
| Financials | 17.0 |
| Health Care | 15.9 |
| Information Technology | 13.1 |
| Consumer Staples | 10.5 |
| Consumer Discretionary | 10.0 |
| Materials | 5.5 |
| Utilities | 2.5 |
| Investment Company | 2.3 |
| Communication Services | 2.1 |
| Energy | 1.8 |
| Real Estate | 0.4 |
|  | 100.0% |

---

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

------

MULTI-MANAGER INTERNATIONAL EQUITY FUND

*January 31, 2023 (Unaudited)* 

------

**ADDITIONAL INVESTMENT INFORMATION** 

------

---

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

---

------

MULTI-MANAGER U.S. SMALL CAP EQUITY FUND

## Schedule of Investments
*January 31, 2023 (Unaudited)* 

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – 92.6%** | **Common Stocks – 92.6%** | **Common Stocks – 92.6%** |
| **Aerospace & Defense – 1.6%** | **Aerospace & Defense – 1.6%** | **Aerospace & Defense – 1.6%** |
| 16990 | AAR Corp.\* | $873966 |
| 16420 | Curtiss-Wright Corp. | 2722436 |
| 44200 | Hexcel Corp. | 3119636 |
| 34900 | Mercury Systems, Inc.\* | 1744476 |
| 31270 | Woodward, Inc. | 3197670 |
|  |  | 11658184 |
| **Air Freight & Logistics – 0.7%** | **Air Freight & Logistics – 0.7%** | **Air Freight & Logistics – 0.7%** |
| 13300 | Forward Air Corp. | 1434405 |
| 40281 | Hub Group, Inc. Class A\* | 3434761 |
|  |  | 4869166 |
| **Auto Components – 1.1%** | **Auto Components – 1.1%** | **Auto Components – 1.1%** |
| 8020 | Fox Factory Holding Corp.\* | 947082 |
| 28066 | LCI Industries | 3149566 |
| 14684 | Standard Motor Products, Inc. | 594115 |
| 18400 | Visteon Corp.\* | 2876656 |
| 10151 | XPEL, Inc.\* | 772186 |
|  |  | 8339605 |
| **Banks – 6.2%** | **Banks – 6.2%** | **Banks – 6.2%** |
| 11187 | Ameris Bancorp | 527579 |
| 40400 | Bank of Hawaii Corp. | 3090196 |
| 23455 | Berkshire Hills Bancorp, Inc. | 728278 |
| 25300 | Eagle Bancorp, Inc. | 1201497 |
| 25618 | First Hawaiian, Inc. | 702958 |
| 33258 | First Merchants Corp. | 1418121 |
| 22330 | Hancock Whitney Corp. | 1149548 |
| 43478 | Heritage Commerce Corp. | 526953 |
| 41666 | Hope Bancorp, Inc. | 537075 |
| 40900 | Independent Bank Corp. | 3259321 |
| 21750 | Lakeland Financial Corp. | 1537943 |
| 32119 | OceanFirst Financial Corp. | 768287 |
| 22631 | PacWest Bancorp. | 625973 |
| 22949 | Peapack-Gladstone Financial Corp. | 851178 |
| 13400 | Pinnacle Financial Partners, Inc. | 1054982 |
| 15424 | Preferred Bank | 1097109 |
| 98188 | Prosperity Bancshares, Inc. | 7448542 |
| 34500 | Renasant Corp. | 1227510 |
| 52632 | SouthState Corp. | 4189507 |
| 49590 | Synovus Financial Corp. | 2080301 |
| 34900 | UMB Financial Corp. | 3147631 |
| 20862 | Univest Financial Corp. | 566403 |
| 125559 | Valley National Bancorp | 1491641 |
| 24102 | Veritex Holdings, Inc. | 678471 |
| 66352 | Wintrust Financial Corp. | 6069217 |
|  |  | 45976221 |
| **Beverages\* – 0.1%** | **Beverages\* – 0.1%** | **Beverages\* – 0.1%** |
| 7240 | Celsius Holdings, Inc. | 726317 |
| **Biotechnology\* – 2.7%** | **Biotechnology\* – 2.7%** | **Biotechnology\* – 2.7%** |
| 220236 | Abcam PLC ADR | 3054673 |
| 25150 | Agios Pharmaceuticals, Inc. | 741422 |
| 48670 | Amicus Therapeutics, Inc. | 634657 |
| 13470 | Apellis Pharmaceuticals, Inc. | 710273 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **Biotechnology\* – (continued)** | **Biotechnology\* – (continued)** | **Biotechnology\* – (continued)** |
| 15813 | Ascendis Pharma A/S ADR | $1962077 |
| 11260 | Biohaven Ltd. | 214953 |
| 23101 | Blueprint Medicines Corp. | 1079741 |
| 30100 | Chinook Therapeutics, Inc. | 760627 |
| 47080 | Equillium, Inc. | 48492 |
| 5470 | Immunocore Holdings PLC ADR | 335147 |
| 16170 | Immunovant, Inc. | 287341 |
| 10706 | Karuna Therapeutics, Inc. | 2134669 |
| 9730 | Krystal Biotech, Inc. | 808758 |
| 11330 | Kura Oncology, Inc. | 156581 |
| 40753 | Neurocrine Biosciences, Inc. | 4520730 |
| 22140 | Opthea, Ltd. ADR | 120663 |
| 4420 | Prometheus Biosciences, Inc. | 502377 |
| 14950 | Replimune Group, Inc. | 416358 |
| 11600 | SpringWorks Therapeutics, Inc. | 364240 |
| 9500 | Syndax Pharmaceuticals, Inc. | 272650 |
| 9970 | Vaxcyte, Inc. | 452140 |
|  |  | 19578569 |
| **Building Products – 1.8%** | **Building Products – 1.8%** | **Building Products – 1.8%** |
| 15910 | AAON, Inc. | 1214251 |
| 31500 | Gibraltar Industries, Inc.\* | 1687455 |
| 79300 | Hayward Holdings, Inc.\* | 1069757 |
| 7452 | Masonite International Corp.\* | 679771 |
| 56893 | Resideo Technologies, Inc.\* | 1094052 |
| 5200 | Simpson Manufacturing Co., Inc. | 556972 |
| 67281 | The AZEK Co., Inc.\* | 1623491 |
| 30450 | UFP Industries, Inc. | 2848598 |
| 130939 | Zurn Elkay Water Solutions Corp. | 2862327 |
|  |  | 13636674 |
| **Capital Markets – 1.0%** | **Capital Markets – 1.0%** | **Capital Markets – 1.0%** |
| 22104 | Avantax, Inc.\* | 644111 |
| 218227 | BGC Partners, Inc. Class A | 949287 |
| 28875 | Cohen & Steers, Inc. | 2121446 |
| 16222 | Evercore, Inc. Class A | 2105778 |
| 10450 | Focus Financial Partners, Inc. Class A\* | 471818 |
| 9446 | StoneX Group, Inc.\* | 830114 |
|  |  | 7122554 |
| **Chemicals – 3.2%** | **Chemicals – 3.2%** | **Chemicals – 3.2%** |
| 11144 | Ashland, Inc. | 1217705 |
| 13530 | Avient Corp. | 548236 |
| 14968 | Cabot Corp. | 1127539 |
| 93953 | Ecovyst, Inc.\* | 985567 |
| 64525 | H.B. Fuller Co. | 4458678 |
| 21548 | Ingevity Corp.\* | 1776417 |
| 23950 | Innospec, Inc. | 2706829 |
| 34920 | Livent Corp.\* | 905126 |
| 46688 | Mativ Holdings, Inc. | 1286721 |
| 31100 | Minerals Technologies, Inc. | 2159895 |
| 24272 | Quaker Chemical Corp. | 4778429 |

---

------

MULTI-MANAGER U.S. SMALL CAP EQUITY FUND

## Schedule of Investments (continued)
*January 31, 2023 (Unaudited)* 

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **Chemicals – (continued)** | **Chemicals – (continued)** | **Chemicals – (continued)** |
| 55739 | Valvoline, Inc. | $2043392 |
|  |  | 23994534 |
| **Commerical Services & Supplies – 4.0%** | **Commerical Services & Supplies – 4.0%** | **Commerical Services & Supplies – 4.0%** |
| 115602 | ABM Industries, Inc. | 5422890 |
| 24727 | Casella Waste Systems, Inc. Class A\* | 1981127 |
| 7660 | Clean Harbors, Inc.\* | 998098 |
| 64281 | CoreCivic, Inc.\* | 683950 |
| 46767 | IAA, Inc.\* | 1951587 |
| 27711 | MSA Safety, Inc. | 3779503 |
| 82936 | Rentokil Initial PLC ADR | 2522913 |
| 41121 | The Brink's Co. | 2697538 |
| 10750 | UniFirst Corp. | 2133230 |
| 64320 | Viad Corp.\* | 1900656 |
| 41380 | Waste Connections, Inc. | 5499402 |
|  |  | 29570894 |
| **Communications Equipment\* – 1.3%** | **Communications Equipment\* – 1.3%** | **Communications Equipment\* – 1.3%** |
| 40975 | Ciena Corp. | 2131520 |
| 142909 | CommScope Holding Co., Inc. | 1200436 |
| 13360 | Digi International, Inc. | 454106 |
| 52006 | Extreme Networks, Inc. | 937668 |
| 477772 | Infinera Corp. | 3497291 |
| 60500 | NETGEAR, Inc. | 1208185 |
|  |  | 9429206 |
| **Construction & Engineering – 1.1%** | **Construction & Engineering – 1.1%** | **Construction & Engineering – 1.1%** |
| 17459 | EMCOR Group, Inc. | 2588297 |
| 18413 | Granite Construction, Inc. | 784026 |
| 14100 | MYR Group, Inc.\* | 1396746 |
| 11258 | Valmont Industries, Inc. | 3712100 |
|  |  | 8481169 |
| **Construction Materials – 0.7%** | **Construction Materials – 0.7%** | **Construction Materials – 0.7%** |
| 16475 | Eagle Materials, Inc. | 2406668 |
| 78627 | Summit Materials, Inc. Class A\* | 2583683 |
|  |  | 4990351 |
| **Consumer Finance – 1.2%** | **Consumer Finance – 1.2%** | **Consumer Finance – 1.2%** |
| 19718 | FirstCash Holdings, Inc. | 1817605 |
| 11958 | Nelnet, Inc. Class A | 1141870 |
| 49037 | PRA Group, Inc.\* | 1973249 |
| 232190 | SLM Corp. | 4079578 |
|  |  | 9012302 |
| **Containers & Packaging – 1.4%** | **Containers & Packaging – 1.4%** | **Containers & Packaging – 1.4%** |
| 66373 | Graphic Packaging Holding Co. | 1598926 |
| 63190 | Silgan Holdings, Inc. | 3405309 |
| 47900 | Sonoco Products Co. | 2927169 |
| 74900 | TriMas Corp. | 2306171 |
|  |  | 10237575 |
| **Diversified Consumer Services – 1.8%** | **Diversified Consumer Services – 1.8%** | **Diversified Consumer Services – 1.8%** |
| 84897 | Bright Horizons Family Solutions, Inc.\* | 6518392 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **Diversified Consumer Services – (continued)** | **Diversified Consumer Services – (continued)** | **Diversified Consumer Services – (continued)** |
| 98717 | Laureate Education, Inc. | $1083913 |
| 368902 | Mister Car Wash, Inc.\* | 3788623 |
| 45291 | Stride, Inc.\* | 1944342 |
|  |  | 13335270 |
| **Diversified Financial Services – 0.2%** | **Diversified Financial Services – 0.2%** | **Diversified Financial Services – 0.2%** |
| 17453 | Voya Financial, Inc. | 1217696 |
| **Diversified Telecommunication Services – 0.4%** | **Diversified Telecommunication Services – 0.4%** | **Diversified Telecommunication Services – 0.4%** |
| 42405 | Cogent Communications Holdings, Inc. | 2907711 |
| **Electric Utilities – 0.6%** | **Electric Utilities – 0.6%** | **Electric Utilities – 0.6%** |
| 24000 | ALLETE, Inc. | 1484640 |
| 14250 | IDACORP, Inc. | 1507792 |
| 16600 | MGE Energy, Inc. | 1213626 |
|  |  | 4206058 |
| **Electrical Equipment – 0.6%** | **Electrical Equipment – 0.6%** | **Electrical Equipment – 0.6%** |
| 6631 | Acuity Brands, Inc. | 1250076 |
| 5627 | Atkore, Inc.\* | 732917 |
| 36490 | Bloom Energy Corp. Class A\* | 909695 |
| 8739 | EnerSys | 725512 |
| 23730 | Shoals Technologies Group, Inc. Class A\* | 661830 |
|  |  | 4280030 |
| **Electronic Equipment, Instruments & Components – 3.7%** | **Electronic Equipment, Instruments & Components – 3.7%** | **Electronic Equipment, Instruments & Components – 3.7%** |
| 45530 | Advanced Energy Industries, Inc. | 4222452 |
| 60684 | Avnet, Inc. | 2784182 |
| 2310 | Badger Meter, Inc. | 267729 |
| 59663 | Belden, Inc. | 4838073 |
| 16600 | Fabrinet\* | 2185556 |
| 26191 | Insight Enterprises, Inc.\* | 2952249 |
| 23591 | Littelfuse, Inc. | 6055574 |
| 9059 | OSI Systems, Inc.\* | 857978 |
| 12800 | Plexus Corp.\* | 1228672 |
| 5475 | Rogers Corp.\* | 764255 |
| 40700 | ScanSource, Inc.\* | 1340251 |
|  |  | 27496971 |
| **Energy Equipment & Services – 2.0%** | **Energy Equipment & Services – 2.0%** | **Energy Equipment & Services – 2.0%** |
| 83219 | Cactus, Inc. Class A | 4502980 |
| 231228 | ChampionX Corp. | 7635149 |
| 84368 | National Energy Services Reunited Corp.\* | 637822 |
| 142456 | NexTier Oilfield Solutions, Inc.\* | 1341935 |
| 71284 | ProPetro Holding Corp.\* | 709276 |
|  |  | 14827162 |
| **Entertainment – 0.2%** | **Entertainment – 0.2%** | **Entertainment – 0.2%** |
| 9721 | Take-Two Interactive Software, Inc.\* | 1100709 |
| 7210 | World Wrestling Entertainment, Inc. Class A Class A | 610110 |
|  |  | 1710819 |

---

------

MULTI-MANAGER U.S. SMALL CAP EQUITY FUND

*January 31, 2023 (Unaudited)* 

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **Equity Real Estate Investment Trusts (REITs) – 2.6%** | **Equity Real Estate Investment Trusts (REITs) – 2.6%** | **Equity Real Estate Investment Trusts (REITs) – 2.6%** |
| 116800 | Apple Hospitality REIT, Inc. | $2070864 |
| 90000 | Corporate Office Properties Trust | 2526300 |
| 34522 | Cousins Properties, Inc. | 946593 |
| 24830 | EastGroup Properties, Inc. | 4177647 |
| 36100 | First Industrial Realty Trust, Inc. | 1925935 |
| 100000 | Four Corners Property Trust, Inc. | 2876000 |
| 27470 | Highwoods Properties, Inc. | 834264 |
| 80000 | Rayonier, Inc. | 2911200 |
| 22685 | Spirit Realty Capital, Inc. | 995418 |
|  |  | 19264221 |
| **Food & Staples Retailing – 1.6%** | **Food & Staples Retailing – 1.6%** | **Food & Staples Retailing – 1.6%** |
| 36671 | Casey's General Stores, Inc. | 8651056 |
| 42760 | Grocery Outlet Holding Corp.\* | 1299476 |
| 35950 | Performance Food Group Co.\* | 2204454 |
|  |  | 12154986 |
| **Food Products – 1.1%** | **Food Products – 1.1%** | **Food Products – 1.1%** |
| 44666 | Fresh Del Monte Produce, Inc. | 1277447 |
| 26100 | Ingredion, Inc. | 2683080 |
| 5700 | Lancaster Colony Corp. | 1093887 |
| 87139 | The Simply Good Foods Co.\* | 3163146 |
|  |  | 8217560 |
| **Gas Utilities – 0.2%** | **Gas Utilities – 0.2%** | **Gas Utilities – 0.2%** |
| 17800 | ONE Gas, Inc. | 1466008 |
| **Health Care Equipment & Supplies – 3.4%** | **Health Care Equipment & Supplies – 3.4%** | **Health Care Equipment & Supplies – 3.4%** |
| 98800 | AngioDynamics, Inc.\* | 1286376 |
| 10940 | Axonics, Inc.\* | 671716 |
| 47032 | Envista Holdings Corp.\* | 1833778 |
| 57336 | Establishment Labs Holdings, Inc.\* | 3901141 |
| 16886 | Haemonetics Corp.\* | 1428556 |
| 7700 | ICU Medical, Inc.\* | 1487871 |
| 42220 | Inari Medical, Inc.\* | 2408651 |
| 5460 | Inspire Medical Systems, Inc.\* | 1381708 |
| 25200 | Integer Holdings Corp.\* | 1658412 |
| 9671 | Lantheus Holdings, Inc.\* | 556082 |
| 13130 | LivaNova PLC\* | 737906 |
| 57742 | OrthoPediatrics Corp.\* | 2721380 |
| 6470 | PROCEPT BioRobotics Corp.\* | 251618 |
| 4332 | QuidelOrtho Corp.\* | 370863 |
| 4370 | Shockwave Medical, Inc.\* | 821254 |
| 155950 | SI-BONE, Inc.\* | 2655828 |
| 4542 | Teleflex, Inc. | 1105614 |
|  |  | 25278754 |
| **Health Care Providers & Services – 4.1%** | **Health Care Providers & Services – 4.1%** | **Health Care Providers & Services – 4.1%** |
| 11780 | Acadia Healthcare Co., Inc.\* | 989756 |
| 186666 | Accolade, Inc.\* | 2178392 |
| 148357 | agilon health, Inc.\* | 3228248 |
| 175967 | Alignment Healthcare, Inc.\* | 2173192 |
| 13116 | Amedisys, Inc.\* | 1267793 |
| 10220 | AMN Healthcare Services, Inc.\* | 979485 |
| 4725 | Chemed Corp. | 2386786 |
| 63898 | Encompass Health Corp. | 3990430 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **Health Care Providers & Services – (continued)** | **Health Care Providers & Services – (continued)** | **Health Care Providers & Services – (continued)** |
| 92383 | HealthEquity, Inc.\* | $5621506 |
| 5388 | LHC Group, Inc.\* | 854537 |
| 270017 | NeoGenomics, Inc.\* | 3207802 |
| 22450 | Option Care Health, Inc.\* | 648132 |
| 50976 | PetIQ, Inc.\* | 603556 |
| 100937 | R1 RCM, Inc.\* | 1444408 |
| 23300 | Surgery Partners, Inc.\* | 773560 |
|  |  | 30347583 |
| **Health Care Technology\* – 0.8%** | **Health Care Technology\* – 0.8%** | **Health Care Technology\* – 0.8%** |
| 24228 | Definitive Healthcare Corp. | 299943 |
| 34430 | Evolent Health, Inc. Class A | 1109334 |
| 121434 | Phreesia, Inc. | 4552561 |
|  |  | 5961838 |
| **Hotels, Restaurants & Leisure – 2.8%** | **Hotels, Restaurants & Leisure – 2.8%** | **Hotels, Restaurants & Leisure – 2.8%** |
| 33673 | Bloomin' Brands, Inc. | 816570 |
| 36765 | Choice Hotels International, Inc. | 4518051 |
| 19455 | Churchill Downs, Inc. | 4826785 |
| 41532 | First Watch Restaurant Group, Inc.\* | 672818 |
| 13475 | Hyatt Hotels Corp. Class A\* | 1470392 |
| 49133 | International Game Technology PLC | 1299568 |
| 118944 | MakeMyTrip Ltd.\* | 3446997 |
| 13660 | Texas Roadhouse, Inc. | 1371874 |
| 32686 | Travel + Leisure Co. | 1384906 |
| 5850 | Wingstop, Inc. | 927050 |
|  |  | 20735011 |
| **Household Durables – 0.9%** | **Household Durables – 0.9%** | **Household Durables – 0.9%** |
| 10175 | Helen of Troy Ltd.\* | 1150894 |
| 54883 | Tempur Sealy International, Inc. | 2236482 |
| 9047 | TopBuild Corp.\* | 1809943 |
| 144192 | Vizio Holding Corp. Class A\* | 1263122 |
|  |  | 6460441 |
| **Household Products\* – 0.3%** | **Household Products\* – 0.3%** | **Household Products\* – 0.3%** |
| 58500 | Central Garden & Pet Co. Class A | 2318355 |
| **Insurance – 3.4%** | **Insurance – 3.4%** | **Insurance – 3.4%** |
| 31700 | AMERISAFE, Inc. | 1746036 |
| 17247 | Assured Guaranty Ltd. | 1079662 |
| 41590 | Axis Capital Holdings Ltd. | 2602286 |
| 15913 | Employers Holdings, Inc. | 698103 |
| 33350 | First American Financial Corp. | 2063365 |
| 3270 | Kinsale Capital Group, Inc. | 910499 |
| 12275 | Primerica, Inc. | 1985481 |
| 4769 | RenaissanceRe Holdings Ltd. | 933246 |
| 31900 | Ryan Specialty Holdings, Inc.\* | 1359578 |
| 15200 | Safety Insurance Group, Inc. | 1282728 |
| 22725 | Selective Insurance Group, Inc. | 2158875 |
| 31000 | Stewart Information Services Corp. | 1480870 |
| 28004 | The Hanover Insurance Group, Inc. | 3768778 |
| 1891 | White Mountains Insurance Group Ltd. | 2889373 |
|  |  | 24958880 |

---

------

MULTI-MANAGER U.S. SMALL CAP EQUITY FUND

*January 31, 2023 (Unaudited)* 

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **Interactive Media & Services\* – 0.8%** | **Interactive Media & Services\* – 0.8%** | **Interactive Media & Services\* – 0.8%** |
| 368010 | Angi, Inc. | $1070909 |
| 154223 | Pinterest, Inc. Class A | 4054523 |
| 50080 | ZipRecruiter, Inc. Class A | 983571 |
|  |  | 6109003 |
| **IT Services – 3.4%** | **IT Services – 3.4%** | **IT Services – 3.4%** |
| 16690 | DigitalOcean Holdings, Inc.\* | 489852 |
| 155382 | Evo Payments, Inc. Class A\* | 5262788 |
| 23520 | Flywire Corp.\* | 634334 |
| 154813 | Genpact Ltd. | 7319559 |
| 41140 | Marqeta, Inc. Class A\* | 272758 |
| 40516 | MAXIMUS, Inc. | 3032623 |
| 137220 | Payoneer Global, Inc.\* | 817831 |
| 10075 | Perficient, Inc.\* | 746960 |
| 9200 | Shift4 Payments, Inc. Class A\* | 589168 |
| 14756 | The Hackett Group, Inc. | 326108 |
| 16189 | TTEC Holdings, Inc. | 823049 |
| 21520 | WEX, Inc.\* | 3980554 |
| 11500 | WNS Holdings Ltd. ADR\* | 974395 |
|  |  | 25269979 |
| **Leisure Products – 1.2%** | **Leisure Products – 1.2%** | **Leisure Products – 1.2%** |
| 14010 | Acushnet Holdings Corp. | 657769 |
| 193467 | Clarus Corp. | 1944343 |
| 127100 | Mattel, Inc.\* | 2600466 |
| 135448 | Topgolf Callaway Brands Corp.\* | 3317122 |
|  |  | 8519700 |
| **Life Sciences Tools & Services – 2.0%** | **Life Sciences Tools & Services – 2.0%** | **Life Sciences Tools & Services – 2.0%** |
| 70446 | Azenta, Inc.\* | 3937932 |
| 66094 | Bruker Corp. | 4634511 |
| 13332 | Charles River Laboratories International, Inc.\* | 3243009 |
| 43510 | Pacific Biosciences of California, Inc.\* | 482526 |
| 94149 | Sotera Health Co.\* | 1623129 |
| 24996 | Syneos Health, Inc.\* | 897856 |
|  |  | 14818963 |
| **Machinery – 3.9%** | **Machinery – 3.9%** | **Machinery – 3.9%** |
| 16675 | Alamo Group, Inc. | 2609137 |
| 23630 | Allison Transmission Holdings, Inc. | 1065240 |
| 20793 | Altra Industrial Motion Corp. | 1269828 |
| 41800 | Astec Industries, Inc. | 1845052 |
| 4250 | Chart Industries, Inc.\* | 569415 |
| 34100 | Columbus McKinnon Corp. | 1225895 |
| 15300 | Crane Holdings Co. | 1773423 |
| 29060 | Evoqua Water Technologies Corp.\* | 1409701 |
| 78582 | Hillenbrand, Inc. | 3682353 |
| 6889 | IDEX Corp. | 1651156 |
| 28014 | John Bean Technologies Corp. | 3130004 |
| 69000 | Kennametal, Inc. | 1966500 |
| 23300 | Mueller Industries, Inc. | 1527315 |
| 12425 | Mueller Water Products, Inc. Class A | 157176 |
| 27189 | Terex Corp. | 1385823 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **Machinery – (continued)** | **Machinery – (continued)** | **Machinery – (continued)** |
| 39168 | Wabash National Corp. | $1008968 |
| 16100 | Watts Water Technologies, Inc. Class A | 2632672 |
|  |  | 28909658 |
| **Media – 1.1%** | **Media – 1.1%** | **Media – 1.1%** |
| 10709 | Entravision Communications Corp. Class A | 69609 |
| 19894 | John Wiley & Sons, Inc. Class A | 911145 |
| 16033 | Nexstar Media Group, Inc. | 3283077 |
| 78359 | TEGNA, Inc. | 1561695 |
| 169700 | The E.W. Scripps Co. Class A\* | 2537015 |
|  |  | 8362541 |
| **Metals & Mining – 0.7%** | **Metals & Mining – 0.7%** | **Metals & Mining – 0.7%** |
| 34000 | Kaiser Aluminum Corp. | 2975680 |
| 34600 | Worthington Industries, Inc. | 1967702 |
|  |  | 4943382 |
| **Mortgage Real Estate Investment Trusts (REITs) – 0.4%** | **Mortgage Real Estate Investment Trusts (REITs) – 0.4%** | **Mortgage Real Estate Investment Trusts (REITs) – 0.4%** |
| 44821 | Ares Commercial Real Estate Corp. | 550402 |
| 54338 | Blackstone Mortgage Trust, Inc. Class A | 1295418 |
| 65726 | Starwood Property Trust, Inc. | 1373016 |
|  |  | 3218836 |
| **Multiline Retail\* – 0.1%** | **Multiline Retail\* – 0.1%** | **Multiline Retail\* – 0.1%** |
| 7230 | Ollie's Bargain Outlet Holdings, Inc. | 395915 |
| **Multi-Utilities – 0.3%** | **Multi-Utilities – 0.3%** | **Multi-Utilities – 0.3%** |
| 36300 | NorthWestern Corp. | 2061840 |
| **Oil, Gas & Consumable Fuels – 3.7%** | **Oil, Gas & Consumable Fuels – 3.7%** | **Oil, Gas & Consumable Fuels – 3.7%** |
| 5880 | Callon Petroleum Co.\* | 250194 |
| 9606 | Chord Energy Corp. | 1376828 |
| 64631 | Delek U.S. Holdings, Inc. | 1729526 |
| 58468 | Denbury, Inc.\* | 5073853 |
| 113576 | Enerplus Corp. | 2015974 |
| 226288 | Kosmos Energy Ltd.\* | 1789938 |
| 105600 | Magnolia Oil & Gas Corp. Class A | 2493216 |
| 10380 | Matador Resources Co. | 686741 |
| 30222 | Par Pacific Holdings, Inc.\* | 807834 |
| 52547 | PDC Energy, Inc. | 3559008 |
| 25471 | Peabody Energy Corp.\* | 710386 |
| 91250 | Permian Resources Corp. | 991888 |
| 21560 | Ranger Oil Corp. Class A | 905520 |
| 70647 | Viper Energy Partners LP | 2243042 |
| 88740 | World Fuel Services Corp. | 2511342 |
|  |  | 27145290 |
| **Personal Products\* – 0.4%** | **Personal Products\* – 0.4%** | **Personal Products\* – 0.4%** |
| 60970 | BellRing Brands, Inc. | 1729109 |
| 65130 | Herbalife Nutrition Ltd. | 1144334 |
|  |  | 2873443 |

---

------

MULTI-MANAGER U.S. SMALL CAP EQUITY FUND

*January 31, 2023 (Unaudited)* 

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **Pharmaceuticals\* – 0.2%** | **Pharmaceuticals\* – 0.2%** | **Pharmaceuticals\* – 0.2%** |
| 21233 | Arvinas, Inc. | $695806 |
| 9900 | Pliant Therapeutics, Inc. | 346896 |
| 3130 | Reata Pharmaceuticals, Inc. Class A | 135623 |
| 15180 | Revance Therapeutics, Inc. | 526442 |
|  |  | 1704767 |
| **Professional Services – 1.9%** | **Professional Services – 1.9%** | **Professional Services – 1.9%** |
| 21280 | ASGN, Inc.\* | 1935416 |
| 34400 | CBIZ, Inc.\* | 1637096 |
| 27754 | FTI Consulting, Inc.\* | 4427318 |
| 19350 | ICF International, Inc. | 1977377 |
| 24753 | Korn Ferry | 1336414 |
| 26128 | Science Applications International Corp. | 2711564 |
|  |  | 14025185 |
| **Real Estate Management & Development – 0.7%** | **Real Estate Management & Development – 0.7%** | **Real Estate Management & Development – 0.7%** |
| 13925 | Colliers International Group, Inc. | 1493596 |
| 99400 | Cushman & Wakefield PLC\* | 1434342 |
| 94944 | DigitalBridge Group, Inc. | 1405171 |
| 38481 | Kennedy-Wilson Holdings, Inc. | 688040 |
|  |  | 5021149 |
| **Road & Rail – 1.3%** | **Road & Rail – 1.3%** | **Road & Rail – 1.3%** |
| 32533 | Knight-Swift Transportation Holdings, Inc. | 1922700 |
| 2946 | Landstar System, Inc. | 509157 |
| 103800 | Marten Transport Ltd. | 2292942 |
| 3070 | Saia, Inc.\* | 837435 |
| 86418 | Werner Enterprises, Inc. | 4059054 |
|  |  | 9621288 |
| **Semiconductors & Semiconductor Equipment – 2.5%** | **Semiconductors & Semiconductor Equipment – 2.5%** | **Semiconductors & Semiconductor Equipment – 2.5%** |
| 75500 | Cohu, Inc.\* | 2724040 |
| 36933 | Entegris, Inc. | 2980862 |
| 8550 | Impinj, Inc.\* | 1109619 |
| 50800 | Kulicke & Soffa Industries, Inc. | 2595880 |
| 24892 | Lattice Semiconductor Corp.\* | 1886565 |
| 32820 | MACOM Technology Solutions Holdings, Inc.\* | 2199596 |
| 37175 | Power Integrations, Inc. | 3200396 |
| 44028 | SMART Global Holdings, Inc.\* | 756841 |
| 30070 | Ultra Clean Holdings, Inc.\* | 1011856 |
|  |  | 18465655 |
| **Software – 4.6%** | **Software – 4.6%** | **Software – 4.6%** |
| 59135 | Bentley Systems, Inc. Class B | 2309222 |
| 61942 | Blackline, Inc.\* | 4447435 |
| 32900 | Box, Inc. Class A\* | 1052471 |
| 12210 | Braze, Inc. Class A\* | 390720 |
| 3941 | Clear Secure, Inc. Class A | 123708 |
| 4920 | CyberArk Software Ltd.\* | 693130 |
| 91459 | Dynatrace, Inc.\* | 3514769 |
| 51174 | Envestnet, Inc.\* | 3326310 |
| 12000 | Gitlab, Inc. Class A\* | 592920 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** | **Common Stocks – (continued)** |
| **Software – (continued)** | **Software – (continued)** | **Software – (continued)** |
| 24201 | InterDigital, Inc. | $1692860 |
| 1510 | Jamf Holding Corp.\* | 30004 |
| 43015 | NCR Corp.\* | 1179471 |
| 36790 | Paycor HCM, Inc.\* | 923797 |
| 104590 | PROS Holdings, Inc.\* | 2635668 |
| 12110 | Smartsheet, Inc. Class A\* | 523273 |
| 23910 | Sprout Social, Inc. Class A\* | 1529523 |
| 11270 | Varonis Systems, Inc.\* | 291217 |
| 68050 | Verint Systems, Inc.\* | 2583858 |
| 67813 | Workiva, Inc.\* | 5867859 |
|  |  | 33708215 |
| **Specialty Retail – 1.2%** | **Specialty Retail – 1.2%** | **Specialty Retail – 1.2%** |
| 32247 | Caleres, Inc. | 839067 |
| 47127 | Foot Locker, Inc. | 2050496 |
| 93513 | Leslie's, Inc.\* | 1448516 |
| 2350 | Murphy USA, Inc. | 639271 |
| 52971 | Petco Health & Wellness Co., Inc.\* | 619231 |
| 32300 | Signet Jewelers Ltd. | 2480963 |
| 21502 | The Buckle, Inc. | 946088 |
|  |  | 9023632 |
| **Textiles, Apparel & Luxury Goods – 1.3%** | **Textiles, Apparel & Luxury Goods – 1.3%** | **Textiles, Apparel & Luxury Goods – 1.3%** |
| 27200 | Carter's, Inc. | 2267664 |
| 37990 | Columbia Sportswear Co. | 3643241 |
| 8490 | Ralph Lauren Corp. | 1051487 |
| 58684 | Steven Madden Ltd. | 2103821 |
| 38260 | Under Armour, Inc. Class C\* | 417034 |
|  |  | 9483247 |
| **Thrifts & Mortgage Finance – 0.8%** | **Thrifts & Mortgage Finance – 0.8%** | **Thrifts & Mortgage Finance – 0.8%** |
| 29148 | Essent Group Ltd. | 1283387 |
| 16997 | Federal Agricultural Mortgage Corp. Class C | 2260091 |
| 10550 | PennyMac Financial Services, Inc. | 711281 |
| 15785 | Walker & Dunlop, Inc. | 1505573 |
|  |  | 5760332 |
| **Tobacco – 0.1%** | **Tobacco – 0.1%** | **Tobacco – 0.1%** |
| 72702 | Vector Group Ltd. | 941491 |
| **Trading Companies & Distributors – 1.2%** | **Trading Companies & Distributors – 1.2%** | **Trading Companies & Distributors – 1.2%** |
| 18960 | Applied Industrial Technologies, Inc. | 2715262 |
| 102000 | Core & Main, Inc. Class A\* | 2251140 |
| 3600 | Herc Holdings, Inc. | 559152 |
| 18100 | McGrath RentCorp | 1801674 |
| 51414 | NOW, Inc.\* | 721852 |
| 6285 | SiteOne Landscape Supply, Inc.\* | 952240 |
|  |  | 9001320 |
| **TOTAL COMMON STOCKS<br>(Cost $604,471,399)** | **TOTAL COMMON STOCKS<br>(Cost $604,471,399)** | $684153506 |

---

------

MULTI-MANAGER U.S. SMALL CAP EQUITY FUND

*January 31, 2023 (Unaudited)* 

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Exchange Traded Funds – 1.5%** | **Exchange Traded Funds – 1.5%** | **Exchange Traded Funds – 1.5%** |
| 24100 | iShares Russell 2000 Value ETF | $3664887 |
| 82762 | SPDR S&P Biotech ETF | 7357542 |
| **TOTAL EXCHANGE TRADED FUNDS<br>(Cost $10,160,751)** | **TOTAL EXCHANGE TRADED FUNDS<br>(Cost $10,160,751)** | $11022429 |
| **Shares** | **Dividend<br>Rate** | **Value** |
| **Investment Company – 5.6%** | **Investment Company – 5.6%** | **Investment Company – 5.6%** |
| Goldman Sachs Financial Square Government Fund - Institutional<br>Shares | Goldman Sachs Financial Square Government Fund - Institutional<br>Shares | Goldman Sachs Financial Square Government Fund - Institutional<br>Shares |
| 41302315 | 4.237% | $41302315 |
| **(Cost $41,302,315)** | **(Cost $41,302,315)** |  |
| **TOTAL INVESTMENTS – 99.7%<br>(Cost $655,934,465)** | **TOTAL INVESTMENTS – 99.7%<br>(Cost $655,934,465)** | $736478250 |
| **OTHER ASSETS IN EXCESS OF<br> LIABILITIES – 0.3%** | **OTHER ASSETS IN EXCESS OF<br> LIABILITIES – 0.3%** | 2068801 |
| **NET ASSETS – 100.0%** | **NET ASSETS – 100.0%** | $738547051 |

---

---

| | |
|:---|:---|
| The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets. | The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets. |
| \* | Non-income producing security. |
| For information on the mutual funds, please call our toll free Shareholder Services Line at 1-800-526-7384 or visit us on the web at www.GSAMFUNDS.com | For information on the mutual funds, please call our toll free Shareholder Services Line at 1-800-526-7384 or visit us on the web at www.GSAMFUNDS.com |

---

------

MULTI-MANAGER U.S. SMALL CAP EQUITY FUND

*January 31, 2023 (Unaudited)* 

------

**ADDITIONAL INVESTMENT INFORMATION** 

------

---

| | |
|:---|:---|
| **Investment Abbreviations:** | **Investment Abbreviations:** |
| ADR | — American Depositary Receipt |
| ETF | — Exchange Traded Fund |
| LP | — Limited Partnership |
| PLC | — Public Limited Company |
| REIT | — Real Estate Investment Trust |
| SPDR | — Standard and Poor's Depository Receipt |

---

------

GOLDMAN SACHS ACTIVE EQUITY MULTI-MANAGER FUNDS

*January 31, 2023 (Unaudited)* 

------

**NOTES TO THE SCHEDULE OF INVESTMENTS** 

------

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

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

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

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

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

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

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

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

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

------

GOLDMAN SACHS ACTIVE EQUITY MULTI-MANAGER FUNDS

*January 31, 2023 (Unaudited)* 

------

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

------

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

**Level 3 Fair Value Investments** — To the extent that significant inputs to valuation models and other alternative pricing sources are unobservable, or if quotations are not readily available, or if GSAM believes that such quotations do not accurately reflect fair value, the fair value of a Fund's investments may be determined under the Valuation Procedures approved by the Trustees. 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 investment are classified as Level 3 investments.

**Fair Value Hierarchy** — The following is a summary of the Funds' investments and derivatives classified in the fair value hierarchy as of January 31, 2023:

---

| | | | |
|:---|:---|:---|:---|
| **MULTI-MANAGER INTERNATIONAL EQUITY**<br>**Investment Type** | <br>**Level 1** | <br>**Level 2** | <br>**Level 3** |
| **Assets** |  |  |  |
|  Common Stock and/or Other Equity Investments<sup>(a)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Asia | $19725955 | $232151908 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp; Australia and Oceania |  | 10628467 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Europe | 49385775 | 813751711 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; North America | 135977518 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; South America | 1445488 |  |  |
|  Investment Company | 29779425 |  |  |
| **Total** | $236314161 | $1056532086 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

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

------

GOLDMAN SACHS ACTIVE EQUITY MULTI-MANAGER FUNDS

*January 31, 2023 (Unaudited)* 

------

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

------

---

| | | | |
|:---|:---|:---|:---|
| **MULTI-MANAGER U.S. SMALL CAP EQUITY**<br>**Investment Type** | <br>**Level 1** | <br>**Level 2** | <br>**Level 3** |
| **Assets** |  |  |  |
|  Common Stock and/or Other Equity Investments<sup>(a)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Asia | $7258929 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp; Australia and Oceania | 120663 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Europe | 10047058 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; North America | 666726856 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Exchange Traded Funds | 11022429 |  |  |
|  Investment Company | 41302315 |  |  |
| **Total** | $736478250 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

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

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

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

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

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

------

GOLDMAN SACHS ACTIVE EQUITY MULTI-MANAGER FUNDS

*January 31, 2023 (Unaudited)* 

------

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

------

**Foreign Custody Risk** — If a Fund invests in foreign securities, the Fund may hold such securities and cash with foreign banks, agents, and securities depositories appointed by the Fund's custodian (each a "Foreign Custodian"). Some foreign custodians may be recently organized or new to the foreign custody business. In some countries, Foreign Custodians may be subject to little or no regulatory oversight over, or independent evaluation of, their operations. Further, the laws of certain countries may place limitations on a Fund's ability to recover its assets if a Foreign Custodian enters bankruptcy.

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

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

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

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

**Market and Credit Risks** — In the normal course of business, a Fund trades financial instruments and enters into financial transactions where risk of potential loss exists due to changes in the market (market risk). The value of the securities in which a Fund invests may go up or down in response to the prospects of individual companies, particular sectors or governments and/or general economic conditions throughout the world due to increasingly interconnected global economies and financial markets.

------

GOLDMAN SACHS ACTIVE EQUITY MULTI-MANAGER FUNDS

*January 31, 2023 (Unaudited)* 

------

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

------

Events such as war, acts of terrorism, social unrest, natural disasters, the spread of infectious illness or other public health threats could also significantly impact a Fund and its investments. Additionally, a Fund may also be exposed to credit risk in the event that an issuer or guarantor fails to perform or that an institution or entity with which the Fund has unsettled or open transactions defaults.

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

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** NEW YORK

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10282

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

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

- **a. Name of Series:** Multi-Manager U.S. Small Cap Equity Fund

- **b. EDGAR series identifier (if any):** S000051363

- **c. LEI of Series:** 549300CWN17JEN0PBD43

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

- **a. Date of fiscal year-end:** 2023-10-31

- **b. Date as of which information is reported:** 2023-01-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1273246951.52

**Total Liabilities:** $534739961.60

**Net Assets:** $738506989.92

**Cash Not Reported:** $851576.81

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000161913 | 4.01%                | -5.26%               | 8.17%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-3847745.03             | $30941732.43                               |
| Month 2  | $-2885369.26             | $-35517365.85                              |
| Month 3  | $5375898.92              | $50107215.09                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| WESCO International Inc                        | WESCO International Inc                        | CUSIP: 95082P105<br>LEI: 529900TXOGREY3WNJ434 | Long             | EC               | CORP              | US        |      1372 | NS      | $204441.72    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Entravision Communications Corp                | Entravision Communications Corp                | CUSIP: 29382R107<br>LEI: 549300SKHY2ALCLKV539 | Long             | EC               | CORP              | US        |     10709 | NS      | $69608.50     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexstar Media Group Inc                        | Nexstar Media Group Inc                        | CUSIP: 65336K103<br>LEI: 52990083ZRR5UT591988 | Long             | EC               | CORP              | US        |     16033 | NS      | $3283077.41   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Masonite International Corp                    | Masonite International Corp                    | CUSIP: 575385109<br>LEI: 549300H0H07ZFT4JYM32 | Long             | EC               | CORP              | CA        |      7452 | NS      | $679771.44    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| PennyMac Financial Services Inc                | PennyMac Financial Services Inc                | CUSIP: 70932M107<br>LEI: 549300W1D516HBDEU871 | Long             | EC               | CORP              | US        |     10550 | NS      | $711281.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Angi Inc                                       | Angi Inc                                       | CUSIP: 00183L102<br>LEI: 5493003ENY577E6SZL06 | Long             | EC               | CORP              | US        |    368010 | NS      | $1070909.10   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Peabody Energy Corp                            | Peabody Energy Corp                            | CUSIP: 704551100<br>LEI: EJCO258LNNVSKAR2JX59 | Long             | EC               | CORP              | US        |     25471 | NS      | $710386.19    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles River Laboratories International Inc   | Charles River Laboratories International Inc   | CUSIP: 159864107<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | EC               | CORP              | US        |     13332 | NS      | $3243009.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Plexus Corp                                    | Plexus Corp                                    | CUSIP: 729132100<br>LEI: 549300W7HCBI5YT25I79 | Long             | EC               | CORP              | US        |     12800 | NS      | $1228672.00   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Callon Petroleum Co                            | Callon Petroleum Co                            | CUSIP: 13123X508<br>LEI: 549300EFOWPEB0WLZW21 | Long             | EC               | CORP              | US        |      5880 | NS      | $250194.00    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| AZEK Co Inc/The                                | AZEK Co Inc/The                                | CUSIP: 05478C105<br>LEI: 5493002LDDDU1RX46815 | Long             | EC               | CORP              | US        |     67281 | NS      | $1623490.53   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Dynatrace Inc                                  | Dynatrace Inc                                  | CUSIP: 268150109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     91459 | NS      | $3514769.37   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Laureate Education Inc                         | Laureate Education Inc                         | CUSIP: 518613203<br>LEI: 5JL7TMOH5TY3IUYSUP91 | Long             | EC               | CORP              | US        |     98717 | NS      | $1083912.66   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Hyatt Hotels Corp                              | Hyatt Hotels Corp                              | CUSIP: 448579102<br>LEI: T27JQIMTYSH41TCD5186 | Long             | EC               | CORP              | US        |     13600 | NS      | $1484032.00   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Viad Corp                                      | Viad Corp                                      | CUSIP: 92552R406<br>LEI: 549300PXU4ZW7LPO5Y40 | Long             | EC               | CORP              | US        |     64770 | NS      | $1913953.50   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| PDC Energy Inc                                 | PDC Energy Inc                                 | CUSIP: 69327R101<br>LEI: 5493008W8H2T511J5Y59 | Long             | EC               | CORP              | US        |     52547 | NS      | $3559008.31   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Pliant Therapeutics Inc                        | Pliant Therapeutics Inc                        | CUSIP: 729139105<br>LEI: 5493002Q5LITR7VHZH02 | Long             | EC               | CORP              | US        |      9900 | NS      | $346896.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| HB Fuller Co                                   | HB Fuller Co                                   | CUSIP: 359694106<br>LEI: JSMX3Z5FOYM8V0Q52357 | Long             | EC               | CORP              | US        |     64525 | NS      | $4458677.50   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| DigitalOcean Holdings Inc                      | DigitalOcean Holdings Inc                      | CUSIP: 25402D102<br>LEI: 549300EPISPY3RE3DL21 | Long             | EC               | CORP              | US        |     19330 | NS      | $567335.50    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Amedisys Inc                                   | Amedisys Inc                                   | CUSIP: 023436108<br>LEI: 5299001RBS9GK9STN379 | Long             | EC               | CORP              | US        |     13116 | NS      | $1267792.56   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Safety Insurance Group Inc                     | Safety Insurance Group Inc                     | CUSIP: 78648T100<br>LEI: 254900LDCFLA3J746840 | Long             | EC               | CORP              | US        |     15200 | NS      | $1282728.00   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Evolent Health Inc                             | Evolent Health Inc                             | CUSIP: 30050B101<br>LEI: 549300CZOCFHQ2BBTR11 | Long             | EC               | CORP              | US        |     34430 | NS      | $1109334.60   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Revance Therapeutics Inc                       | Revance Therapeutics Inc                       | CUSIP: 761330109<br>LEI: 549300N33TFDZHS81H11 | Long             | EC               | CORP              | US        |     15180 | NS      | $526442.40    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Cabot Corp                                     | Cabot Corp                                     | CUSIP: 127055101<br>LEI: K05C0SER542GQ6VLRO68 | Long             | EC               | CORP              | US        |     14968 | NS      | $1127539.44   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Smartsheet Inc                                 | Smartsheet Inc                                 | CUSIP: 83200N103<br>LEI: 549300N9WF42OK9VL589 | Long             | EC               | CORP              | US        |     12110 | NS      | $523273.10    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Kulicke & Soffa Industries Inc                 | Kulicke & Soffa Industries Inc                 | CUSIP: 501242101<br>LEI: 529900H6BEIRBF429744 | Long             | EC               | CORP              | US        |     50800 | NS      | $2595880.00   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Rogers Corp                                    | Rogers Corp                                    | CUSIP: 775133101<br>LEI: PW0CN80KNFR7RUOOKJ84 | Long             | EC               | CORP              | US        |      4075 | NS      | $568829.25    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Ranger Oil Corp                                | Ranger Oil Corp                                | CUSIP: 70788V102<br>LEI: 5493003S4AVU6OSXB118 | Long             | EC               | CORP              | US        |     21560 | NS      | $905520.00    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Colliers International Group Inc               | Colliers International Group Inc               | CUSIP: 194693107<br>LEI: D3O8K13PHLEXXD1DT480 | Long             | EC               | CORP              | CA        |     13925 | NS      | $1493595.50   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| R1 RCM Inc                                     | R1 RCM Inc                                     | CUSIP: 77634L105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    100937 | NS      | $1444408.47   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Vector Group Ltd                               | Vector Group Ltd                               | CUSIP: 92240M108<br>LEI: 549300TUIF4WWN6NDN50 | Long             | EC               | CORP              | US        |     72702 | NS      | $941490.90    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Lancaster Colony Corp                          | Lancaster Colony Corp                          | CUSIP: 513847103<br>LEI: 529900X4O13HED1ZAS58 | Long             | EC               | CORP              | US        |      5700 | NS      | $1093887.00   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| AMN Healthcare Services Inc                    | AMN Healthcare Services Inc                    | CUSIP: 001744101<br>LEI: 529900W3ARRTCNFH2I39 | Long             | EC               | CORP              | US        |     10220 | NS      | $979484.80    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Core & Main Inc                                | Core & Main Inc                                | CUSIP: 21874C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    102000 | NS      | $2251140.00   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Payoneer Global Inc                            | Payoneer Global Inc                            | CUSIP: 70451X104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    137220 | NS      | $817831.20    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Kura Oncology Inc                              | Kura Oncology Inc                              | CUSIP: 50127T109<br>LEI: 5493005QORQTZCZYOP39 | Long             | EC               | CORP              | US        |     11410 | NS      | $157686.20    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Central Garden & Pet Co                        | Central Garden & Pet Co                        | CUSIP: 153527205<br>LEI: 5493004DVZLD37DJ0H83 | Long             | EC               | CORP              | US        |     58500 | NS      | $2318355.00   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Evercore Inc                                   | Evercore Inc                                   | CUSIP: 29977A105<br>LEI: 529900P6KLPT95DW3W58 | Long             | EC               | CORP              | US        |     16222 | NS      | $2105777.82   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| EnerSys                                        | EnerSys                                        | CUSIP: 29275Y102<br>LEI: 7ZS3DE5PN30BYUJFWP05 | Long             | EC               | CORP              | US        |     11041 | NS      | $916623.82    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| SI-BONE Inc                                    | SI-BONE Inc                                    | CUSIP: 825704109<br>LEI: 549300J8JGYVJJHV9C31 | Long             | EC               | CORP              | US        |    155950 | NS      | $2655828.50   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Highwoods Properties Inc                       | Highwoods Properties Inc                       | CUSIP: 431284108<br>LEI: ZIIGTYKL9T0X3HLTDX53 | Long             | EC               |  | US        |     27470 | NS      | $834263.90    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| NexTier Oilfield Solutions Inc                 | NexTier Oilfield Solutions Inc                 | CUSIP: 65290C105<br>LEI: 529900L27H2D4QT0IT24 | Long             | EC               | CORP              | US        |    142456 | NS      | $1341935.52   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Altra Industrial Motion Corp                   | Altra Industrial Motion Corp                   | CUSIP: 02208R106<br>LEI: NQ0NIXPGW4YKG4MWM571 | Long             | EC               | CORP              | US        |     20793 | NS      | $1269828.51   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Univest Financial Corp                         | Univest Financial Corp                         | CUSIP: 915271100<br>LEI: 4WII2HCR8UEWNU03U507 | Long             | EC               | CORP              | US        |     20862 | NS      | $566403.30    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Workiva Inc                                    | Workiva Inc                                    | CUSIP: 98139A105<br>LEI: 529900RTOQ8GRWHY1O58 | Long             | EC               | CORP              | US        |     67813 | NS      | $5867858.89   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Avient Corp                                    | Avient Corp                                    | CUSIP: 05368V106<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | EC               | CORP              | US        |     13530 | NS      | $548235.60    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Gibraltar Industries Inc                       | Gibraltar Industries Inc                       | CUSIP: 374689107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     31500 | NS      | $1687455.00   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERISAFE Inc                                  | AMERISAFE Inc                                  | CUSIP: 03071H100<br>LEI: 2549002B4EXPBLGMNN22 | Long             | EC               | CORP              | US        |     31700 | NS      | $1746036.00   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Valvoline Inc                                  | Valvoline Inc                                  | CUSIP: 92047W101<br>LEI: 549300CMHPBEY6VPOT75 | Long             | EC               | CORP              | US        |     55739 | NS      | $2043391.74   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| PetIQ Inc                                      | PetIQ Inc                                      | CUSIP: 71639T106<br>LEI: 549300GROACFGKVYOX14 | Long             | EC               | CORP              | US        |     50976 | NS      | $603555.84    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstCash Holdings Inc                         | FirstCash Holdings Inc                         | CUSIP: 33768G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19718 | NS      | $1817605.24   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Ashland Inc                                    | Ashland Inc                                    | CUSIP: 044186104<br>LEI: 529900E4L9R04SB8HB11 | Long             | EC               | CORP              | US        |     11144 | NS      | $1217704.88   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Four Corners Property Trust Inc                | Four Corners Property Trust Inc                | CUSIP: 35086T109<br>LEI: 549300SVTPZPBDVNER42 | Long             | EC               |  | US        |    100000 | NS      | $2876000.00   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Ecovyst Inc                                    | Ecovyst Inc                                    | CUSIP: 27923Q109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     93953 | NS      | $985566.97    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| First Merchants Corp                           | First Merchants Corp                           | CUSIP: 320817109<br>LEI: TZTBT0OTGQ2FEK6XMX94 | Long             | EC               | CORP              | US        |     33258 | NS      | $1418121.12   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Walker & Dunlop Inc                            | Walker & Dunlop Inc                            | CUSIP: 93148P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15785 | NS      | $1505573.30   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Terex Corp                                     | Terex Corp                                     | CUSIP: 880779103<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | EC               | CORP              | US        |     27189 | NS      | $1385823.33   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Prometheus Biosciences Inc                     | Prometheus Biosciences Inc                     | CUSIP: 74349U108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4420 | NS      | $502377.20    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| agilon health Inc                              | agilon health Inc                              | CUSIP: 00857U107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    148357 | NS      | $3228248.32   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Cushman & Wakefield PLC                        | Cushman & Wakefield PLC                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |     99400 | NS      | $1434342.00   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryan Specialty Holdings Inc                    | Ryan Specialty Holdings Inc                    | CUSIP: 78351F107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     31900 | NS      | $1359578.00   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Permian Resources Corp                         | Permian Resources Corp                         | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |     86230 | NS      | $937320.10    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| SiteOne Landscape Supply Inc                   | SiteOne Landscape Supply Inc                   | CUSIP: 82982L103<br>LEI: 5299008LX7SBD4HIAU03 | Long             | EC               | CORP              | US        |      6285 | NS      | $952240.35    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| MACOM Technology Solutions Holdings Inc        | MACOM Technology Solutions Holdings Inc        | CUSIP: 55405Y100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     32820 | NS      | $2199596.40   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Primerica Inc                                  | Primerica Inc                                  | CUSIP: 74164M108<br>LEI: 254900621R686KJR7022 | Long             | EC               | CORP              | US        |     12275 | NS      | $1985481.25   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Leslie's Inc                                   | Leslie's Inc                                   | CUSIP: 527064109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     93513 | NS      | $1448516.37   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Pacific Biosciences of California Inc          | Pacific Biosciences of California Inc          | CUSIP: 69404D108<br>LEI: 529900F1BWRE1M0KZN89 | Long             | EC               | CORP              | US        |     43510 | NS      | $482525.90    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Ollie's Bargain Outlet Holdings Inc            | Ollie's Bargain Outlet Holdings Inc            | CUSIP: 681116109<br>LEI: 529900YO5DSQCPEFDZ05 | Long             | EC               | CORP              | US        |      7230 | NS      | $395914.80    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Marqeta Inc                                    | Marqeta Inc                                    | CUSIP: 57142B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     41140 | NS      | $272758.20    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| OceanFirst Financial Corp                      | OceanFirst Financial Corp                      | CUSIP: 675234108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     32119 | NS      | $768286.48    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Chinook Therapeutics Inc                       | Chinook Therapeutics Inc                       | CUSIP: 16961L106<br>LEI: 549300X0O3003W5QYQ48 | Long             | EC               | CORP              | US        |     30100 | NS      | $760627.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Financial Corp                  | First American Financial Corp                  | CUSIP: 31847R102<br>LEI: 549300B6VEZK3N0A1P55 | Long             | EC               | CORP              | US        |     33350 | NS      | $2063364.50   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Power Integrations Inc                         | Power Integrations Inc                         | CUSIP: 739276103<br>LEI: 54930085LGXSCIHD5W31 | Long             | EC               | CORP              | US        |     37175 | NS      | $3200395.75   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Belden Inc                                     | Belden Inc                                     | CUSIP: 077454106<br>LEI: 68BKYO1JC791TTJHUE82 | Long             | EC               | CORP              | US        |     60388 | NS      | $4896862.92   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Axonics Inc                                    | Axonics Inc                                    | CUSIP: 05465P101<br>LEI: 549300LJY4X7N57VJL05 | Long             | EC               | CORP              | US        |     10940 | NS      | $671716.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Alignment Healthcare Inc                       | Alignment Healthcare Inc                       | CUSIP: 01625V104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    175967 | NS      | $2173192.45   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Hub Group Inc                                  | Hub Group Inc                                  | CUSIP: 443320106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     40281 | NS      | $3434760.87   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Under Armour Inc                               | Under Armour Inc                               | CUSIP: 904311206<br>LEI: 549300D4549QKWETZ406 | Long             | EC               | CORP              | US        |     38260 | NS      | $417034.00    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Cohen & Steers Inc                             | Cohen & Steers Inc                             | CUSIP: 19247A100<br>LEI: 549300XXIA338A0X2K65 | Long             | EC               | CORP              | US        |     28875 | NS      | $2121446.25   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Definitive Healthcare Corp                     | Definitive Healthcare Corp                     | CUSIP: 24477E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     24228 | NS      | $299942.64    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Cohu Inc                                       | Cohu Inc                                       | CUSIP: 192576106<br>LEI: 529900FJPORJ3JJ2XS33 | Long             | EC               | CORP              | US        |     75500 | NS      | $2724040.00   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Prosperity Bancshares Inc                      | Prosperity Bancshares Inc                      | CUSIP: 743606105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     98188 | NS      | $7448541.68   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Helen of Troy Ltd                              | Helen of Troy Ltd                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |     10175 | NS      | $1150894.25   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Forward Air Corp                               | Forward Air Corp                               | CUSIP: 349853101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13300 | NS      | $1434405.00   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Industrial Technologies Inc            | Applied Industrial Technologies Inc            | CUSIP: 03820C105<br>LEI: 549300NU173IJRC6PO38 | Long             | EC               | CORP              | US        |     20425 | NS      | $2925064.25   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Granite Construction Inc                       | Granite Construction Inc                       | CUSIP: 387328107<br>LEI: 549300OM4BWMCIXVCZ39 | Long             | EC               | CORP              | US        |     18413 | NS      | $784025.54    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Kaiser Aluminum Corp                           | Kaiser Aluminum Corp                           | CUSIP: 483007704<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     34000 | NS      | $2975680.00   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Worthington Industries Inc                     | Worthington Industries Inc                     | CUSIP: 981811102<br>LEI: 1WRCIANKYOIK6KYE5E82 | Long             | EC               | CORP              | US        |     34600 | NS      | $1967702.00   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Casey's General Stores Inc                     | Casey's General Stores Inc                     | CUSIP: 147528103<br>LEI: 549300CAFWSI86V66Q65 | Long             | EC               | CORP              | US        |     36671 | NS      | $8651055.61   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| InterDigital Inc                               | InterDigital Inc                               | CUSIP: 45867G101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     24201 | NS      | $1692859.95   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Buckle Inc/The                                 | Buckle Inc/The                                 | CUSIP: 118440106<br>LEI: 5299007IU0461T3GDL34 | Long             | EC               | CORP              | US        |     21502 | NS      | $946088.00    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Bruker Corp                                    | Bruker Corp                                    | CUSIP: 116794108<br>LEI: LEBZ6VLQ6I8XB1NHVY15 | Long             | EC               | CORP              | US        |     66094 | NS      | $4634511.28   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Herc Holdings Inc                              | Herc Holdings Inc                              | CUSIP: 42704L104<br>LEI: 549300TP80QLITMSBP82 | Long             | EC               | CORP              | US        |      3600 | NS      | $559152.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Graphic Packaging Holding Co                   | Graphic Packaging Holding Co                   | CUSIP: 388689101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     66373 | NS      | $1598925.57   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| National Energy Services Reunited Corp         | National Energy Services Reunited Corp         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | VG        |     84368 | NS      | $637822.08    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Hope Bancorp Inc                               | Hope Bancorp Inc                               | CUSIP: 43940T109<br>LEI: 549300UTF4QGMBHIZ219 | Long             | EC               | CORP              | US        |     41666 | NS      | $537074.74    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Energy Industries Inc                 | Advanced Energy Industries Inc                 | CUSIP: 007973100<br>LEI: 549300756XI3QLFT2U27 | Long             | EC               | CORP              | US        |     45530 | NS      | $4222452.20   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Agios Pharmaceuticals Inc                      | Agios Pharmaceuticals Inc                      | CUSIP: 00847X104<br>LEI: 529900ONJHY8EOGYT555 | Long             | EC               | CORP              | US        |     25150 | NS      | $741422.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Churchill Downs Inc                            | Churchill Downs Inc                            | CUSIP: 171484108<br>LEI: 529900FODTBQC8MIS994 | Long             | EC               | CORP              | US        |     19455 | NS      | $4826785.50   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Inari Medical Inc                              | Inari Medical Inc                              | CUSIP: 45332Y109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     42220 | NS      | $2408651.00   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Maximus Inc                                    | Maximus Inc                                    | CUSIP: 577933104<br>LEI: 549300DQCDS8HJ7QF202 | Long             | EC               | CORP              | US        |     40116 | NS      | $3002682.60   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Fox Factory Holding Corp                       | Fox Factory Holding Corp                       | CUSIP: 35138V102<br>LEI: 529900GE1HSV0617R721 | Long             | EC               | CORP              | US        |      8020 | NS      | $947081.80    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Synovus Financial Corp                         | Synovus Financial Corp                         | CUSIP: 87161C501<br>LEI: 549300EIUS8UN5JTLE54 | Long             | EC               | CORP              | US        |     49590 | NS      | $2080300.50   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Tempur Sealy International Inc                 | Tempur Sealy International Inc                 | CUSIP: 88023U101<br>LEI: 549300HFEKVR3US71V91 | Long             | EC               | CORP              | US        |     54883 | NS      | $2236482.25   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameris Bancorp                                 | Ameris Bancorp                                 | CUSIP: 03076K108<br>LEI: PBJHNT51T5V6G5UQFV42 | Long             | EC               | CORP              | US        |     11187 | NS      | $527578.92    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Evoqua Water Technologies Corp                 | Evoqua Water Technologies Corp                 | CUSIP: 30057T105<br>LEI: 529900YQAOMEZRGRRP43 | Long             | EC               | CORP              | US        |     29060 | NS      | $1409700.60   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Ascendis Pharma A/S                            | Ascendis Pharma A/S                            | CUSIP: 04351P101<br>LEI: 549300B66JN3W3J8GH73 | Long             | EC               | CORP              | DK        |     15813 | NS      | $1962077.04   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Wintrust Financial Corp                        | Wintrust Financial Corp                        | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |     66352 | NS      | $6069217.44   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Allison Transmission Holdings Inc              | Allison Transmission Holdings Inc              | CUSIP: 01973R101<br>LEI: 529900RP7DJ882LI9T83 | Long             | EC               | CORP              | US        |     23630 | NS      | $1065240.40   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Wabash National Corp                           | Wabash National Corp                           | CUSIP: 929566107<br>LEI: 5299004ZAWHQZI5XO485 | Long             | EC               | CORP              | US        |     39168 | NS      | $1008967.68   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Brink's Co/The                                 | Brink's Co/The                                 | CUSIP: 109696104<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | EC               | CORP              | US        |     41121 | NS      | $2697537.60   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Apellis Pharmaceuticals Inc                    | Apellis Pharmaceuticals Inc                    | CUSIP: 03753U106<br>LEI: 254900HS0ZFRXXSB9D42 | Long             | EC               | CORP              | US        |     13470 | NS      | $710273.10    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| First Watch Restaurant Group Inc               | First Watch Restaurant Group Inc               | CUSIP: 33748L101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     41532 | NS      | $672818.40    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Enerplus Corp                                  | Enerplus Corp                                  | CUSIP: 292766102<br>LEI: 549300OEXJU0X6FYBQ42 | Long             | EC               | CORP              | CA        |    113576 | NS      | $2015974.00   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| StoneX Group Inc                               | StoneX Group Inc                               | CUSIP: 861896108<br>LEI: 549300JUF07L8VF02M60 | Long             | EC               | CORP              | US        |      9446 | NS      | $830114.48    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Kennedy-Wilson Holdings Inc                    | Kennedy-Wilson Holdings Inc                    | CUSIP: 489398107<br>LEI: 549300MOI1T78144X610 | Long             | EC               | CORP              | US        |     38481 | NS      | $688040.28    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| First Hawaiian Inc                             | First Hawaiian Inc                             | CUSIP: 32051X108<br>LEI: 5493002DJSH46F5OLV06 | Long             | EC               | CORP              | US        |     25618 | NS      | $702957.92    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Inspire Medical Systems Inc                    | Inspire Medical Systems Inc                    | CUSIP: 457730109<br>LEI: 549300XQQCQ7HCJKTW25 | Long             | EC               | CORP              | US        |      5460 | NS      | $1381707.60   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Rayonier Inc                                   | Rayonier Inc                                   | CUSIP: 754907103<br>LEI: HGV8VDVNL0W6SF2U9C50 | Long             | EC               |  | US        |     80000 | NS      | $2911200.00   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Woodward Inc                                   | Woodward Inc                                   | CUSIP: 980745103<br>LEI: YPYKXXTR8TFDH54ZMB45 | Long             | EC               | CORP              | US        |     31270 | NS      | $3197670.20   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| PROS Holdings Inc                              | PROS Holdings Inc                              | CUSIP: 74346Y103<br>LEI: 549300LPE1KNL5RWKQ48 | Long             | EC               | CORP              | US        |    104590 | NS      | $2635668.00   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| ChampionX Corp                                 | ChampionX Corp                                 | CUSIP: 15872M104<br>LEI: 549300EP2909K6DYYP38 | Long             | EC               | CORP              | US        |    231228 | NS      | $7635148.56   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEX Corp                                      | IDEX Corp                                      | CUSIP: 45167R104<br>LEI: 549300U5Y5EL6PHYLF13 | Long             | EC               | CORP              | US        |      6889 | NS      | $1651155.52   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Ralph Lauren Corp                              | Ralph Lauren Corp                              | CUSIP: 751212101<br>LEI: HO1QNWM0IXBZ0QSMMO20 | Long             | EC               | CORP              | US        |      8490 | NS      | $1051486.50   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| WNS Holdings Ltd                               | WNS Holdings Ltd                               | CUSIP: 92932M101<br>LEI: 529900RM7QHUD3W9DM42 | Long             | EC               | CORP              | JE        |     11500 | NS      | $974395.00    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| ProPetro Holding Corp                          | ProPetro Holding Corp                          | CUSIP: 74347M108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     71284 | NS      | $709275.80    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| SouthState Corp                                | SouthState Corp                                | CUSIP: 840441109<br>LEI: 549300JZUANXM0YQ4W53 | Long             | EC               | CORP              | US        |     52632 | NS      | $4189507.20   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingredion Inc                                  | Ingredion Inc                                  | CUSIP: 457187102<br>LEI: PKSTQ48QDN0XSVS7YK88 | Long             | EC               | CORP              | US        |     26100 | NS      | $2683080.00   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Syneos Health Inc                              | Syneos Health Inc                              | CUSIP: 87166B102<br>LEI: 549300F1ZGKDS8P6GU13 | Long             | EC               | CORP              | US        |     24996 | NS      | $897856.32    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Nelnet Inc                                     | Nelnet Inc                                     | CUSIP: 64031N108<br>LEI: 549300T6B0Q52I6OM558 | Long             | EC               | CORP              | US        |     11958 | NS      | $1141869.42   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| OrthoPediatrics Corp                           | OrthoPediatrics Corp                           | CUSIP: 68752L100<br>LEI: 5493000KUTPFGOPAT717 | Long             | EC               | CORP              | US        |     57742 | NS      | $2721380.46   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| UMB Financial Corp                             | UMB Financial Corp                             | CUSIP: 902788108<br>LEI: 549300MGEH3N3CUCV828 | Long             | EC               | CORP              | US        |     34900 | NS      | $3147631.00   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Cactus Inc                                     | Cactus Inc                                     | CUSIP: 127203107<br>LEI: 549300J3T8C9F8QFKV08 | Long             | EC               | CORP              | US        |     83219 | NS      | $4502980.09   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Watts Water Technologies Inc                   | Watts Water Technologies Inc                   | CUSIP: 942749102<br>LEI: 549300REJOO94ERQN318 | Long             | EC               | CORP              | US        |     16100 | NS      | $2632672.00   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Biohaven Ltd                                   | Biohaven Ltd                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | VG        |     11260 | NS      | $214953.40    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Rentokil Initial PLC                           | Rentokil Initial PLC                           | CUSIP: 760125104<br>LEI: 549300VN4WV7Z6T14K68 | Long             | EC               | CORP              | GB        |     82936 | NS      | $2522913.12   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Wingstop Inc                                   | Wingstop Inc                                   | CUSIP: 974155103<br>LEI: 549300SSH3F8HPIM3Q47 | Long             | EC               | CORP              | US        |      5850 | NS      | $927049.50    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| NorthWestern Corp                              | NorthWestern Corp                              | CUSIP: 668074305<br>LEI: 3BPWMBHR1R9SHUN7J795 | Long             | EC               | CORP              | US        |     36300 | NS      | $2061840.00   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Mativ Holdings Inc                             | Mativ Holdings Inc                             | CUSIP: 808541106<br>LEI: 549300Z1FU4IDULG1R21 | Long             | EC               | CORP              | US        |     46688 | NS      | $1286721.28   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Lakeland Financial Corp                        | Lakeland Financial Corp                        | CUSIP: 511656100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21750 | NS      | $1537942.50   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Take-Two Interactive Software Inc              | Take-Two Interactive Software Inc              | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Long             | EC               | CORP              | US        |      9721 | NS      | $1100708.83   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Viper Energy Partners LP                       | Viper Energy Partners LP                       | CUSIP: 92763M105<br>LEI: 5299009LINL232255G03 | Long             | EC               | CORP              | US        |     70647 | NS      | $2243042.25   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Saia Inc                                       | Saia Inc                                       | CUSIP: 78709Y105<br>LEI: 549300WNPG4N9GBOYB29 | Long             | EC               | CORP              | US        |      3680 | NS      | $1003830.40   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Simply Good Foods Co/The                       | Simply Good Foods Co/The                       | CUSIP: 82900L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     87139 | NS      | $3163145.70   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| ICF International Inc                          | ICF International Inc                          | CUSIP: 44925C103<br>LEI: 5493003KYFDDC5B3WY64 | Long             | EC               | CORP              | US        |     19350 | NS      | $1977376.50   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Kennametal Inc                                 | Kennametal Inc                                 | CUSIP: 489170100<br>LEI: 549300GZDSG25XUV0Y08 | Long             | EC               | CORP              | US        |     69000 | NS      | $1966500.00   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackline Inc                                  | Blackline Inc                                  | CUSIP: 09239B109<br>LEI: 529900P9N7PK9LV5EK56 | Long             | EC               | CORP              | US        |     61942 | NS      | $4447435.60   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Establishment Labs Holdings Inc                | Establishment Labs Holdings Inc                | CUSIP: 000000000<br>LEI: 549300BCBQ714JNJ7V58 | Long             | EC               | CORP              | VG        |     57336 | NS      | $3901141.44   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Resideo Technologies Inc                       | Resideo Technologies Inc                       | CUSIP: 76118Y104<br>LEI: 5493006TKFPYISY2DS54 | Long             | EC               | CORP              | US        |     56893 | NS      | $1094052.39   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| AngioDynamics Inc                              | AngioDynamics Inc                              | CUSIP: 03475V101<br>LEI: 549300W3VKC5ZKMO8C28 | Long             | EC               | CORP              | US        |     98800 | NS      | $1286376.00   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Bloom Energy Corp                              | Bloom Energy Corp                              | CUSIP: 093712107<br>LEI: 549300XB5J9BFW5JXV97 | Long             | EC               | CORP              | US        |     36490 | NS      | $909695.70    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Zurn Elkay Water Solutions Corp                | Zurn Elkay Water Solutions Corp                | CUSIP: 98983L108<br>LEI: 549300AM3633XDFU1Q85 | Long             | EC               | CORP              | US        |    130939 | NS      | $2862326.54   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| World Wrestling Entertainment Inc              | World Wrestling Entertainment Inc              | CUSIP: 98156Q108<br>LEI: 549300WZVLSCS3L4L698 | Long             | EC               | CORP              | US        |      7210 | NS      | $610110.20    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| EMCOR Group Inc                                | EMCOR Group Inc                                | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |     17459 | NS      | $2588296.75   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| CyberArk Software Ltd                          | CyberArk Software Ltd                          | CUSIP: 000000000<br>LEI: 529900YEXNDM894PWS93 | Long             | EC               | CORP              | IL        |      4920 | NS      | $693129.60    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| John Wiley & Sons Inc                          | John Wiley & Sons Inc                          | CUSIP: 968223206<br>LEI: 5493003XM719UN7E8P64 | Long             | EC               | CORP              | US        |     19894 | NS      | $911145.20    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Equillium Inc                                  | Equillium Inc                                  | CUSIP: 29446K106<br>LEI: 549300OC7SSPSNNGHE64 | Long             | EC               | CORP              | US        |     47090 | NS      | $48502.70     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Signet Jewelers Ltd                            | Signet Jewelers Ltd                            | CUSIP: 000000000<br>LEI: 549300N3XPGE91WV7M22 | Long             | EC               | CORP              | BM        |     32300 | NS      | $2480963.00   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Ultra Clean Holdings Inc                       | Ultra Clean Holdings Inc                       | CUSIP: 90385V107<br>LEI: 5493007L6LS7QX18PE75 | Long             | EC               | CORP              | US        |     30070 | NS      | $1011855.50   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| LivaNova PLC                                   | LivaNova PLC                                   | CUSIP: 000000000<br>LEI: 2138001K2FX6SHK2B339 | Long             | EC               | CORP              | GB        |     13130 | NS      | $737906.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Mister Car Wash Inc                            | Mister Car Wash Inc                            | CUSIP: 60646V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    365412 | NS      | $3752781.24   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Varonis Systems Inc                            | Varonis Systems Inc                            | CUSIP: 922280102<br>LEI: 549300SHIVNRRH7STS26 | Long             | EC               | CORP              | US        |     14100 | NS      | $364344.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Box Inc                                        | Box Inc                                        | CUSIP: 10316T104<br>LEI: 549300KQUCPD8687YS68 | Long             | EC               | CORP              | US        |     32900 | NS      | $1052471.00   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Corporate Office Properties Trust              | Corporate Office Properties Trust              | CUSIP: 22002T108<br>LEI: YY1J47X6LF9TYY8JY420 | Long             | EC               |  | US        |     91550 | NS      | $2569808.50   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| NOW Inc                                        | NOW Inc                                        | CUSIP: 67011P100<br>LEI: 549300AVH5SOCFVVDW91 | Long             | EC               | CORP              | US        |     51414 | NS      | $721852.56    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| MYR Group Inc                                  | MYR Group Inc                                  | CUSIP: 55405W104<br>LEI: 529900G1IMMZHOQ17I54 | Long             | EC               | CORP              | US        |     14100 | NS      | $1396746.00   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Perficient Inc                                 | Perficient Inc                                 | CUSIP: 71375U101<br>LEI: 549300HTBXKL2755T650 | Long             | EC               | CORP              | US        |     10075 | NS      | $746960.50    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Simpson Manufacturing Co Inc                   | Simpson Manufacturing Co Inc                   | CUSIP: 829073105<br>LEI: 529900EJUNNL15LZ8056 | Long             | EC               | CORP              | US        |      5200 | NS      | $556972.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Columbus McKinnon Corp/NY                      | Columbus McKinnon Corp/NY                      | CUSIP: 199333105<br>LEI: 549300W3HQB0HO1F3G69 | Long             | EC               | CORP              | US        |     34100 | NS      | $1225895.00   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Verint Systems Inc                             | Verint Systems Inc                             | CUSIP: 92343X100<br>LEI: 549300KEQJS5FRVUCO94 | Long             | EC               | CORP              | US        |     68050 | NS      | $2583858.50   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Axis Capital Holdings Ltd                      | Axis Capital Holdings Ltd                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |     41590 | NS      | $2602286.30   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| ASGN Inc                                       | ASGN Inc                                       | CUSIP: 00191U102<br>LEI: LZBNYYCBUKY537072438 | Long             | EC               | CORP              | US        |     21280 | NS      | $1935416.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Materials Inc                            | Eagle Materials Inc                            | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |     16475 | NS      | $2406668.00   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Grocery Outlet Holding Corp                    | Grocery Outlet Holding Corp                    | CUSIP: 39874R101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     42760 | NS      | $1299476.40   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Selective Insurance Group Inc                  | Selective Insurance Group Inc                  | CUSIP: 816300107<br>LEI: 549300R3WGJWLE40R258 | Long             | EC               | CORP              | US        |     22725 | NS      | $2158875.00   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| TTEC Holdings Inc                              | TTEC Holdings Inc                              | CUSIP: 89854H102<br>LEI: GTJS1N8S8I28A7L4WG97 | Long             | EC               | CORP              | US        |     19162 | NS      | $974196.08    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Crane Holdings Co                              | Crane Holdings Co                              | CUSIP: 224441105<br>LEI: 549300EXNPSXEWUD3N21 | Long             | EC               | CORP              | US        |     15300 | NS      | $1773423.00   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Assured Guaranty Ltd                           | Assured Guaranty Ltd                           | CUSIP: 000000000<br>LEI: 549300BBOQUJEPH87M14 | Long             | EC               | CORP              | BM        |     17247 | NS      | $1079662.20   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Opthea Ltd                                     | Opthea Ltd                                     | CUSIP: 68386J208<br>LEI: 549300Q5FMFDLP46SF83 | Long             | EC               | CORP              | AU        |     22140 | NS      | $120663.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Shift4 Payments Inc                            | Shift4 Payments Inc                            | CUSIP: 82452J109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9200 | NS      | $589168.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| ScanSource Inc                                 | ScanSource Inc                                 | CUSIP: 806037107<br>LEI: 7FHBAN017QDY4K2KP156 | Long             | EC               | CORP              | US        |     40700 | NS      | $1340251.00   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| NETGEAR Inc                                    | NETGEAR Inc                                    | CUSIP: 64111Q104<br>LEI: 54930067KX3UNRHDWA78 | Long             | EC               | CORP              | US        |     60500 | NS      | $1208185.00   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Krystal Biotech Inc                            | Krystal Biotech Inc                            | CUSIP: 501147102<br>LEI: 549300YONUY68210OE41 | Long             | EC               | CORP              | US        |      9730 | NS      | $808757.60    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Reata Pharmaceuticals Inc                      | Reata Pharmaceuticals Inc                      | CUSIP: 75615P103<br>LEI: 5299005F094GH9QDDD80 | Long             | EC               | CORP              | US        |      3130 | NS      | $135622.90    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Roadhouse Inc                            | Texas Roadhouse Inc                            | CUSIP: 882681109<br>LEI: 5299002Y1CNRPDGXTQ75 | Long             | EC               | CORP              | US        |     13185 | NS      | $1324169.55   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Topgolf Callaway Brands Corp                   | Topgolf Callaway Brands Corp                   | CUSIP: 131193104<br>LEI: 5493005UB0KFRKBPCU72 | Long             | EC               | CORP              | US        |    135448 | NS      | $3317121.52   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Badger Meter Inc                               | Badger Meter Inc                               | CUSIP: 056525108<br>LEI: 5493002JENE20OGTUG20 | Long             | EC               | CORP              | US        |      2310 | NS      | $267729.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Starwood Property Trust Inc                    | Starwood Property Trust Inc                    | CUSIP: 85571B105<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | EC               |  | US        |     65726 | NS      | $1373016.14   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Financial Square Government Fund | Goldman Sachs Financial Square Government Fund | CUSIP: 38141W273<br>LEI: 549300BRJMXN4GUWZ402 | Long             | EC               | RF                | US        |  41155167 | NS      | $41155166.81  | 5.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Essent Group Ltd                               | Essent Group Ltd                               | CUSIP: 000000000<br>LEI: 254900QUO860OUT6ZF83 | Long             | EC               | CORP              | BM        |     29148 | NS      | $1283386.44   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Bentley Systems Inc                            | Bentley Systems Inc                            | CUSIP: 08265T208<br>LEI: 549300WVEHPGE0Z56F71 | Long             | EC               | CORP              | US        |     59135 | NS      | $2309221.75   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| First Industrial Realty Trust Inc              | First Industrial Realty Trust Inc              | CUSIP: 32054K103<br>LEI: N/A                  | Long             | EC               |  | US        |     36100 | NS      | $1925935.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Vizio Holding Corp                             | Vizio Holding Corp                             | CUSIP: 92858V101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    144192 | NS      | $1263121.92   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| MSA Safety Inc                                 | MSA Safety Inc                                 | CUSIP: 553498106<br>LEI: 529900DVA3258XK11O39 | Long             | EC               | CORP              | US        |     27711 | NS      | $3779503.29   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Veritex Holdings Inc                           | Veritex Holdings Inc                           | CUSIP: 923451108<br>LEI: 549300F3SMOML02SC814 | Long             | EC               | CORP              | US        |     24102 | NS      | $678471.30    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Infinera Corp                                  | Infinera Corp                                  | CUSIP: 45667G103<br>LEI: 549300ZOF66WPV3H0H17 | Long             | EC               | CORP              | US        |    477772 | NS      | $3497291.04   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Bancorp Inc                              | Eagle Bancorp Inc                              | CUSIP: 268948106<br>LEI: 549300B47NZODRMG3D47 | Long             | EC               | CORP              | US        |     25300 | NS      | $1201497.00   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Karuna Therapeutics Inc                        | Karuna Therapeutics Inc                        | CUSIP: 48576A100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10706 | NS      | $2134669.34   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Avantax Inc                                    | Avantax Inc                                    | CUSIP: 095229100<br>LEI: 5299001IO03J69IP6L77 | Long             | EC               | CORP              | US        |     22104 | NS      | $644110.56    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Mueller Water Products Inc                     | Mueller Water Products Inc                     | CUSIP: 624758108<br>LEI: 549300F7ZU4P1F8V8L60 | Long             | EC               | CORP              | US        |      5798 | NS      | $73344.70     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Entegris Inc                                   | Entegris Inc                                   | CUSIP: 29362U104<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | EC               | CORP              | US        |     36933 | NS      | $2980862.43   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Spirit Realty Capital Inc                      | Spirit Realty Capital Inc                      | CUSIP: 84860W300<br>LEI: 549300LTU6LVPZSHMJ25 | Long             | EC               |  | US        |     22685 | NS      | $995417.80    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Kosmos Energy Ltd                              | Kosmos Energy Ltd                              | CUSIP: 500688106<br>LEI: 213800YDFJ3OT9B5P157 | Long             | EC               | CORP              | US        |    226288 | NS      | $1789938.08   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Replimune Group Inc                            | Replimune Group Inc                            | CUSIP: 76029N106<br>LEI: 549300AY704NEIRC4K64 | Long             | EC               | CORP              | US        |     14950 | NS      | $416357.50    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Immunocore Holdings PLC                        | Immunocore Holdings PLC                        | CUSIP: 45258D105<br>LEI: 213800IUE3DFS84BVN18 | Long             | EC               | CORP              | GB        |      5470 | NS      | $335146.90    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Knight-Swift Transportation Holdings Inc       | Knight-Swift Transportation Holdings Inc       | CUSIP: 499049104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     32533 | NS      | $1922700.30   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Innospec Inc                                   | Innospec Inc                                   | CUSIP: 45768S105<br>LEI: 213800SQBACNY5IWJO68 | Long             | EC               | CORP              | US        |     23950 | NS      | $2706829.00   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| MGE Energy Inc                                 | MGE Energy Inc                                 | CUSIP: 55277P104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16600 | NS      | $1213626.00   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Stewart Information Services Corp              | Stewart Information Services Corp              | CUSIP: 860372101<br>LEI: 529900TV1XI0PLKENU10 | Long             | EC               | CORP              | US        |     31000 | NS      | $1480870.00   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Peapack-Gladstone Financial Corp               | Peapack-Gladstone Financial Corp               | CUSIP: 704699107<br>LEI: 549300G8DN2UK8K0ET30 | Long             | EC               | CORP              | US        |     22949 | NS      | $851178.41    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Bright Horizons Family Solutions Inc           | Bright Horizons Family Solutions Inc           | CUSIP: 109194100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     84897 | NS      | $6518391.66   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Phreesia Inc                                   | Phreesia Inc                                   | CUSIP: 71944F106<br>LEI: 5493000HHF8NU4QOCG53 | Long             | EC               | CORP              | US        |    121434 | NS      | $4552560.66   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Silgan Holdings Inc                            | Silgan Holdings Inc                            | CUSIP: 827048109<br>LEI: KAF673KJXD92C8KSLU49 | Long             | EC               | CORP              | US        |     63190 | NS      | $3405309.10   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| OSI Systems Inc                                | OSI Systems Inc                                | CUSIP: 671044105<br>LEI: DDX3MPX1Y8YD30050X33 | Long             | EC               | CORP              | US        |      8627 | NS      | $817063.17    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Surgery Partners Inc                           | Surgery Partners Inc                           | CUSIP: 86881A100<br>LEI: 549300LC82HG33S19I03 | Long             | EC               | CORP              | US        |     23300 | NS      | $773560.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Mattel Inc                                     | Mattel Inc                                     | CUSIP: 577081102<br>LEI: 549300VELLG24KHTJ564 | Long             | EC               | CORP              | US        |    126375 | NS      | $2585632.50   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| International Game Technology PLC              | International Game Technology PLC              | CUSIP: 000000000<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | EC               | CORP              | GB        |     49133 | NS      | $1299567.85   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinnacle Financial Partners Inc                | Pinnacle Financial Partners Inc                | CUSIP: 72346Q104<br>LEI: 54930098EZ8JMSAZGS24 | Long             | EC               | CORP              | US        |     13400 | NS      | $1054982.00   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Vaxcyte Inc                                    | Vaxcyte Inc                                    | CUSIP: 92243G108<br>LEI: 254900M7NMHTGASX8D95 | Long             | EC               | CORP              | US        |      9970 | NS      | $452139.50    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| AAR Corp                                       | AAR Corp                                       | CUSIP: 000361105<br>LEI: MP76T5YQX3YK5VVAQ802 | Long             | EC               | CORP              | US        |     16990 | NS      | $873965.60    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Employers Holdings Inc                         | Employers Holdings Inc                         | CUSIP: 292218104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15913 | NS      | $698103.31    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Heritage Commerce Corp                         | Heritage Commerce Corp                         | CUSIP: 426927109<br>LEI: 549300CLIS851ELSR406 | Long             | EC               | CORP              | US        |     43478 | NS      | $526953.36    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| CommScope Holding Co Inc                       | CommScope Holding Co Inc                       | CUSIP: 20337X109<br>LEI: 254900AW4CEPCQWSRI58 | Long             | EC               | CORP              | US        |    142909 | NS      | $1200435.60   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Littelfuse Inc                                 | Littelfuse Inc                                 | CUSIP: 537008104<br>LEI: 549300MY7HLQFYTPCX75 | Long             | EC               | CORP              | US        |     23591 | NS      | $6055573.79   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Werner Enterprises Inc                         | Werner Enterprises Inc                         | CUSIP: 950755108<br>LEI: 549300P6XRGOCHHJST37 | Long             | EC               | CORP              | US        |     86418 | NS      | $4059053.46   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Hillenbrand Inc                                | Hillenbrand Inc                                | CUSIP: 431571108<br>LEI: U246OE781574J2BUD366 | Long             | EC               | CORP              | US        |     78582 | NS      | $3682352.52   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Blueprint Medicines Corp                       | Blueprint Medicines Corp                       | CUSIP: 09627Y109<br>LEI: 5299004CC60O9T5HVM83 | Long             | EC               | CORP              | US        |     23101 | NS      | $1079740.74   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| SLM Corp                                       | SLM Corp                                       | CUSIP: 78442P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    232190 | NS      | $4079578.30   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Korn Ferry                                     | Korn Ferry                                     | CUSIP: 500643200<br>LEI: 549300FOD20OM0GT5G40 | Long             | EC               | CORP              | US        |     24753 | NS      | $1336414.47   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Envista Holdings Corp                          | Envista Holdings Corp                          | CUSIP: 29415F104<br>LEI: 549300BX623VURJZ5269 | Long             | EC               | CORP              | US        |     47032 | NS      | $1833777.68   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Ciena Corp                                     | Ciena Corp                                     | CUSIP: 171779309<br>LEI: W0CZ7N0GH8UIGXDM1H41 | Long             | EC               | CORP              | US        |     39750 | NS      | $2067795.00   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| ABM Industries Inc                             | ABM Industries Inc                             | CUSIP: 000957100<br>LEI: QF02R89VEIOROM77J447 | Long             | EC               | CORP              | US        |    115602 | NS      | $5422889.82   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Preferred Bank/Los Angeles CA                  | Preferred Bank/Los Angeles CA                  | CUSIP: 740367404<br>LEI: 5493007K6HGI9G0ECX16 | Long             | EC               | CORP              | US        |     15424 | NS      | $1097109.12   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Acuity Brands Inc                              | Acuity Brands Inc                              | CUSIP: 00508Y102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6513 | NS      | $1227830.76   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| IAA Inc                                        | IAA Inc                                        | CUSIP: 449253103<br>LEI: 549300PZCOPC5178W747 | Long             | EC               | CORP              | US        |     46767 | NS      | $1951586.91   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Curtiss-Wright Corp                            | Curtiss-Wright Corp                            | CUSIP: 231561101<br>LEI: TEL51ETZWP7D0ZM4X325 | Long             | EC               | CORP              | US        |     16420 | NS      | $2722436.00   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Marten Transport Ltd                           | Marten Transport Ltd                           | CUSIP: 573075108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    103800 | NS      | $2292942.00   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Flywire Corp                                   | Flywire Corp                                   | CUSIP: 302492103<br>LEI: 54930055DSV7NNY4VY66 | Long             | EC               | CORP              | US        |     23520 | NS      | $634334.40    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Fabrinet                                       | Fabrinet                                       | CUSIP: 000000000<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | KY        |     16600 | NS      | $2185556.00   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Foot Locker Inc                                | Foot Locker Inc                                | CUSIP: 344849104<br>LEI: 549300X383CBNP6MTV94 | Long             | EC               | CORP              | US        |     47127 | NS      | $2050495.77   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| CoreCivic Inc                                  | CoreCivic Inc                                  | CUSIP: 21871N101<br>LEI: 529900JFA3K6PTLT8B15 | Long             | EC               | CORP              | US        |     64281 | NS      | $683949.84    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Insight Enterprises Inc                        | Insight Enterprises Inc                        | CUSIP: 45765U103<br>LEI: 529900S8991TYW6YP792 | Long             | EC               | CORP              | US        |     26191 | NS      | $2952249.52   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Hayward Holdings Inc                           | Hayward Holdings Inc                           | CUSIP: 421298100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     79300 | NS      | $1069757.00   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| TriMas Corp                                    | TriMas Corp                                    | CUSIP: 896215209<br>LEI: 75G1WUQ8QK4P5MZOYD78 | Long             | EC               | CORP              | US        |     74900 | NS      | $2306171.00   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Chord Energy Corp                              | Chord Energy Corp                              | CUSIP: 674215207<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | EC               | CORP              | US        |      9606 | NS      | $1376827.98   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Hospitality REIT Inc                     | Apple Hospitality REIT Inc                     | CUSIP: 03784Y200<br>LEI: 549300EVZAR0FBZO4F16 | Long             | EC               |  | US        |    116800 | NS      | $2070864.00   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Shockwave Medical Inc                          | Shockwave Medical Inc                          | CUSIP: 82489T104<br>LEI: 549300LDXO56IC5Y1538 | Long             | EC               | CORP              | US        |      4370 | NS      | $821254.10    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Avnet Inc                                      | Avnet Inc                                      | CUSIP: 053807103<br>LEI: XJI53DCPL7QABOWK4Z75 | Long             | EC               | CORP              | US        |     62184 | NS      | $2853001.92   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Par Pacific Holdings Inc                       | Par Pacific Holdings Inc                       | CUSIP: 69888T207<br>LEI: 549300BTNS7MHSHRLR55 | Long             | EC               | CORP              | US        |     30222 | NS      | $807834.06    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Waste Connections Inc                          | Waste Connections Inc                          | CUSIP: 94106B101<br>LEI: 549300HDLRTPBQU69P29 | Long             | EC               | CORP              | CA        |     41380 | NS      | $5499402.00   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Chemed Corp                                    | Chemed Corp                                    | CUSIP: 16359R103<br>LEI: 54930020031IDJT2IM79 | Long             | EC               | CORP              | US        |      4725 | NS      | $2386786.50   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| ONE Gas Inc                                    | ONE Gas Inc                                    | CUSIP: 68235P108<br>LEI: 549300HXDWI0LATTX840 | Long             | EC               | CORP              | US        |     17800 | NS      | $1466008.00   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Carter's Inc                                   | Carter's Inc                                   | CUSIP: 146229109<br>LEI: 5299003WAQK4R3L3ZU36 | Long             | EC               | CORP              | US        |     27200 | NS      | $2267664.00   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Voya Financial Inc                             | Voya Financial Inc                             | CUSIP: 929089100<br>LEI: 549300T065Z4KJ686G75 | Long             | EC               | CORP              | US        |     17453 | NS      | $1217695.81   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Columbia Sportswear Co                         | Columbia Sportswear Co                         | CUSIP: 198516106<br>LEI: 549300OTMCIEUXAH5Z60 | Long             | EC               | CORP              | US        |     40050 | NS      | $3840795.00   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Denbury Inc                                    | Denbury Inc                                    | CUSIP: 24790A101<br>LEI: 549300KCWA5W52MS5559 | Long             | EC               | CORP              | US        |     58468 | NS      | $5073853.04   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Braze Inc                                      | Braze Inc                                      | CUSIP: 10576N102<br>LEI: 9845007B9EDBFD37C277 | Long             | EC               | CORP              | US        |     12210 | NS      | $390720.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| UFP Industries Inc                             | UFP Industries Inc                             | CUSIP: 90278Q108<br>LEI: 5493007KB485C9OV5572 | Long             | EC               | CORP              | US        |     30450 | NS      | $2848597.50   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Gitlab Inc                                     | Gitlab Inc                                     | CUSIP: 37637K108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12000 | NS      | $592920.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| LCI Industries                                 | LCI Industries                                 | CUSIP: 50189K103<br>LEI: 549300E1B98YNJ1WIQ04 | Long             | EC               | CORP              | US        |     28066 | NS      | $3149566.52   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Bloomin' Brands Inc                            | Bloomin' Brands Inc                            | CUSIP: 094235108<br>LEI: E1UJ2GO305B5FXGV7N04 | Long             | EC               | CORP              | US        |     33673 | NS      | $816570.25    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Hancock Whitney Corp                           | Hancock Whitney Corp                           | CUSIP: 410120109<br>LEI: 549300GRNBWY8HIICT41 | Long             | EC               | CORP              | US        |     22330 | NS      | $1149548.40   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Herbalife Nutrition Ltd                        | Herbalife Nutrition Ltd                        | CUSIP: 000000000<br>LEI: 549300BA7TYPBSZZIA41 | Long             | EC               | CORP              | KY        |     65130 | NS      | $1144334.10   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| WEX Inc                                        | WEX Inc                                        | CUSIP: 96208T104<br>LEI: T9M5IGROL1TL1G5OV478 | Long             | EC               | CORP              | US        |     21520 | NS      | $3980554.40   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Landstar System Inc                            | Landstar System Inc                            | CUSIP: 515098101<br>LEI: 254900CUQXQRL09MEI52 | Long             | EC               | CORP              | US        |      2946 | NS      | $509157.18    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Mueller Industries Inc                         | Mueller Industries Inc                         | CUSIP: 624756102<br>LEI: 5493005IZFE4VJLLYG84 | Long             | EC               | CORP              | US        |     23300 | NS      | $1527315.00   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| ZipRecruiter Inc                               | ZipRecruiter Inc                               | CUSIP: 98980B103<br>LEI: 549300HLOVNNFCY2IV80 | Long             | EC               | CORP              | US        |     50080 | NS      | $983571.20    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Renasant Corp                                  | Renasant Corp                                  | CUSIP: 75970E107<br>LEI: 549300OVE6OZHW2UUH81 | Long             | EC               | CORP              | US        |     34500 | NS      | $1227510.00   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Option Care Health Inc                         | Option Care Health Inc                         | CUSIP: 68404L201<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | EC               | CORP              | US        |     26630 | NS      | $768808.10    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| NeoGenomics Inc                                | NeoGenomics Inc                                | CUSIP: 64049M209<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    270017 | NS      | $3207801.96   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| BGC Partners Inc                               | BGC Partners Inc                               | CUSIP: 05541T101<br>LEI: TF1LXM1YNB81WKUH5G19 | Long             | EC               | CORP              | US        |    218227 | NS      | $949287.45    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Magnolia Oil & Gas Corp                        | Magnolia Oil & Gas Corp                        | CUSIP: 559663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    105600 | NS      | $2493216.00   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Abcam PLC                                      | Abcam PLC                                      | CUSIP: 000380204<br>LEI: 213800B9N83DSNT33F79 | Long             | EC               | CORP              | GB        |    220236 | NS      | $3054673.32   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Travel + Leisure Co                            | Travel + Leisure Co                            | CUSIP: 894164102<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | EC               | CORP              | US        |     32686 | NS      | $1384905.82   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Alamo Group Inc                                | Alamo Group Inc                                | CUSIP: 011311107<br>LEI: 54930080C93RVZRSDV26 | Long             | EC               | CORP              | US        |     16675 | NS      | $2609137.25   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| LHC Group Inc                                  | LHC Group Inc                                  | CUSIP: 50187A107<br>LEI: 5299009NPLWAMRQYZX73 | Long             | EC               | CORP              | US        |      5388 | NS      | $854536.80    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Delek US Holdings Inc                          | Delek US Holdings Inc                          | CUSIP: 24665A103<br>LEI: 5493003O53JMENV1N385 | Long             | EC               | CORP              | US        |     64631 | NS      | $1729525.56   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Impinj Inc                                     | Impinj Inc                                     | CUSIP: 453204109<br>LEI: 549300M26VGKSMMWWN17 | Long             | EC               | CORP              | US        |      8550 | NS      | $1109619.00   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Science Applications International Corp        | Science Applications International Corp        | CUSIP: 808625107<br>LEI: 549300LZPNZIXQGZPZ48 | Long             | EC               | CORP              | US        |     26128 | NS      | $2711563.84   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| PRA Group Inc                                  | PRA Group Inc                                  | CUSIP: 69354N106<br>LEI: 549300Q5HW3JSSB86K27 | Long             | EC               | CORP              | US        |     47924 | NS      | $1928461.76   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Evo Payments Inc                               | Evo Payments Inc                               | CUSIP: 26927E104<br>LEI: 549300Z5UL344C8KEC55 | Long             | EC               | CORP              | US        |    155382 | NS      | $5262788.34   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Acadia Healthcare Co Inc                       | Acadia Healthcare Co Inc                       | CUSIP: 00404A109<br>LEI: 5493005CW985Y9D0NC11 | Long             | EC               | CORP              | US        |     11780 | NS      | $989755.60    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| NCR Corp                                       | NCR Corp                                       | CUSIP: 62886E108<br>LEI: 549300YKTY8JX1DV2R67 | Long             | EC               | CORP              | US        |     43015 | NS      | $1179471.30   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Envestnet Inc                                  | Envestnet Inc                                  | CUSIP: 29404K106<br>LEI: 549300HLWZ5OKIDM8737 | Long             | EC               | CORP              | US        |     51174 | NS      | $3326310.00   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Arvinas Inc                                    | Arvinas Inc                                    | CUSIP: 04335A105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21233 | NS      | $695805.41    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Casella Waste Systems Inc                      | Casella Waste Systems Inc                      | CUSIP: 147448104<br>LEI: 8EU0XUFVJ48U37IIDH51 | Long             | EC               | CORP              | US        |     24727 | NS      | $1981127.24   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Azenta Inc                                     | Azenta Inc                                     | CUSIP: 114340102<br>LEI: 35ZN6X1ANPH25YN32Y17 | Long             | EC               | CORP              | US        |     70446 | NS      | $3937931.40   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| IDACORP Inc                                    | IDACORP Inc                                    | CUSIP: 451107106<br>LEI: N134NUJDWN8UEFA8B673 | Long             | EC               | CORP              | US        |     14250 | NS      | $1507792.50   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Fresh Del Monte Produce Inc                    | Fresh Del Monte Produce Inc                    | CUSIP: 000000000<br>LEI: 529900I72V9F0FEZR228 | Long             | EC               | CORP              | KY        |     44666 | NS      | $1277447.60   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Quaker Chemical Corp                           | Quaker Chemical Corp                           | CUSIP: 747316107<br>LEI: 549300PJQ1R3WCWCPS54 | Long             | EC               | CORP              | US        |     24272 | NS      | $4778428.64   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLETE Inc                                     | ALLETE Inc                                     | CUSIP: 018522300<br>LEI: 549300NNLSIMY6Z8OT86 | Long             | EC               | CORP              | US        |     24000 | NS      | $1484640.00   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| CBIZ Inc                                       | CBIZ Inc                                       | CUSIP: 124805102<br>LEI: 529900D5X8CFM8O1N813 | Long             | EC               | CORP              | US        |     34550 | NS      | $1644234.50   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Neurocrine Biosciences Inc                     | Neurocrine Biosciences Inc                     | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Long             | EC               | CORP              | US        |     40753 | NS      | $4520730.29   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Sonoco Products Co                             | Sonoco Products Co                             | CUSIP: 835495102<br>LEI: GKOMIK4RDJGHEF0VNP11 | Long             | EC               | CORP              | US        |     47900 | NS      | $2927169.00   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| HealthEquity Inc                               | HealthEquity Inc                               | CUSIP: 42226A107<br>LEI: 529900LRJU1RAFQHM467 | Long             | EC               | CORP              | US        |     94943 | NS      | $5777281.55   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR S&P Biotech ETF                           | SPDR S&P Biotech ETF                           | CUSIP: 78464A870<br>LEI: 549300Y3ODFMPD5XXL58 | Long             | EC               | RF                | US        |     82762 | NS      | $7357541.80   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Hackett Group Inc/The                          | Hackett Group Inc/The                          | CUSIP: 404609109<br>LEI: 5K016KLIRB6156644289 | Long             | EC               | CORP              | US        |     14393 | NS      | $318085.30    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackstone Mortgage Trust Inc                  | Blackstone Mortgage Trust Inc                  | CUSIP: 09257W100<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | EC               |  | US        |     54338 | NS      | $1295417.92   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| White Mountains Insurance Group Ltd            | White Mountains Insurance Group Ltd            | CUSIP: 000000000<br>LEI: 549300N3FL068JERBG02 | Long             | EC               | CORP              | BM        |      1891 | NS      | $2889372.36   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinsale Capital Group Inc                      | Kinsale Capital Group Inc                      | CUSIP: 49714P108<br>LEI: 529900QTUQHNZ6HOA508 | Long             | EC               | CORP              | US        |      3270 | NS      | $910498.80    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Ares Commercial Real Estate Corp               | Ares Commercial Real Estate Corp               | CUSIP: 04013V108<br>LEI: 549300ZNO5IWXS443S81 | Long             | EC               |  | US        |     44821 | NS      | $550401.88    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Co                           | Matador Resources Co                           | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |     10380 | NS      | $686740.80    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Petco Health & Wellness Co Inc                 | Petco Health & Wellness Co Inc                 | CUSIP: 71601V105<br>LEI: 2549007TYGV6RVSE9M61 | Long             | EC               | CORP              | US        |     52971 | NS      | $619230.99    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinterest Inc                                  | Pinterest Inc                                  | CUSIP: 72352L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    154223 | NS      | $4054522.67   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hills Bancorp Inc                    | Berkshire Hills Bancorp Inc                    | CUSIP: 084680107<br>LEI: 549300AS2OC6UMMBNO37 | Long             | EC               | CORP              | US        |     23455 | NS      | $728277.75    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| EW Scripps Co/The                              | EW Scripps Co/The                              | CUSIP: 811054402<br>LEI: 549300U1OW41QPKYW028 | Long             | EC               | CORP              | US        |    169700 | NS      | $2537015.00   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Choice Hotels International Inc                | Choice Hotels International Inc                | CUSIP: 169905106<br>LEI: 5493003CYRY5RFGTIR97 | Long             | EC               | CORP              | US        |     36765 | NS      | $4518050.85   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Jamf Holding Corp                              | Jamf Holding Corp                              | CUSIP: 47074L105<br>LEI: 254900IHLXZU4Z5ANA12 | Long             | EC               | CORP              | US        |      5090 | NS      | $101138.30    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Lantheus Holdings Inc                          | Lantheus Holdings Inc                          | CUSIP: 516544103<br>LEI: 5299005HUB5IOJGO7S39 | Long             | EC               | CORP              | US        |      9671 | NS      | $556082.50    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Cogent Communications Holdings Inc             | Cogent Communications Holdings Inc             | CUSIP: 19239V302<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     42405 | NS      | $2907710.85   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Digi International Inc                         | Digi International Inc                         | CUSIP: 253798102<br>LEI: 529900KG656HGROI4N27 | Long             | EC               | CORP              | US        |     13360 | NS      | $454106.40    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| EastGroup Properties Inc                       | EastGroup Properties Inc                       | CUSIP: 277276101<br>LEI: 31TIGQQZC4P6JMHKSW85 | Long             | EC               |  | US        |     24830 | NS      | $4177647.50   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Minerals Technologies Inc                      | Minerals Technologies Inc                      | CUSIP: 603158106<br>LEI: 549300D3I1QU67GP6403 | Long             | EC               | CORP              | US        |     31100 | NS      | $2159895.00   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Haemonetics Corp                               | Haemonetics Corp                               | CUSIP: 405024100<br>LEI: 549300ZEL6TXZS6F5F95 | Long             | EC               | CORP              | US        |     16886 | NS      | $1428555.60   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprout Social Inc                              | Sprout Social Inc                              | CUSIP: 85209W109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23910 | NS      | $1529522.70   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| TEGNA Inc                                      | TEGNA Inc                                      | CUSIP: 87901J105<br>LEI: 549300YC5EDBGX85AO10 | Long             | EC               | CORP              | US        |     78359 | NS      | $1561694.87   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Agricultural Mortgage Corp             | Federal Agricultural Mortgage Corp             | CUSIP: 313148306<br>LEI: 549300MS654K78GYF580 | Long             | EC               | USGSE             | US        |     16997 | NS      | $2260091.09   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| UniFirst Corp/MA                               | UniFirst Corp/MA                               | CUSIP: 904708104<br>LEI: 5493003XBTNWBC8UK019 | Long             | EC               | CORP              | US        |     10750 | NS      | $2133230.00   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Summit Materials Inc                           | Summit Materials Inc                           | CUSIP: 86614U100<br>LEI: 549300XNOLX5GIOSO108 | Long             | EC               | CORP              | US        |     78627 | NS      | $2583683.22   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| ICU Medical Inc                                | ICU Medical Inc                                | CUSIP: 44930G107<br>LEI: 5493003NRW7LS2QZRH60 | Long             | EC               | CORP              | US        |      7675 | NS      | $1483040.25   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Integer Holdings Corp                          | Integer Holdings Corp                          | CUSIP: 45826H109<br>LEI: 549300SUD2ED5XG6X569 | Long             | EC               | CORP              | US        |     25200 | NS      | $1658412.00   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Clarus Corp                                    | Clarus Corp                                    | CUSIP: 18270P109<br>LEI: 549300PKSLI6PT0ULL72 | Long             | EC               | CORP              | US        |    193467 | NS      | $1944343.35   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Teleflex Inc                                   | Teleflex Inc                                   | CUSIP: 879369106<br>LEI: UUL85LWXB4NGSWWXIQ25 | Long             | EC               | CORP              | US        |      4542 | NS      | $1105613.64   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Syndax Pharmaceuticals Inc                     | Syndax Pharmaceuticals Inc                     | CUSIP: 87164F105<br>LEI: 529900OF94TRHKZVBS87 | Long             | EC               | CORP              | US        |      9500 | NS      | $272650.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| John Bean Technologies Corp                    | John Bean Technologies Corp                    | CUSIP: 477839104<br>LEI: 5493007CT6ATBZ2L6826 | Long             | EC               | CORP              | US        |     28014 | NS      | $3130004.22   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Immunovant Inc                                 | Immunovant Inc                                 | CUSIP: 45258J102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16170 | NS      | $287340.90    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Murphy USA Inc                                 | Murphy USA Inc                                 | CUSIP: 626755102<br>LEI: 549300Y081F8XIKQIO72 | Long             | EC               | CORP              | US        |      2350 | NS      | $639270.50    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Clean Harbors Inc                              | Clean Harbors Inc                              | CUSIP: 184496107<br>LEI: 5493000SJVZVZJKHJF48 | Long             | EC               | CORP              | US        |      7660 | NS      | $998098.00    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Visteon Corp                                   | Visteon Corp                                   | CUSIP: 92839U206<br>LEI: 549300MOVLYHRW4GGW78 | Long             | EC               | CORP              | US        |     18400 | NS      | $2876656.00   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Focus Financial Partners Inc                   | Focus Financial Partners Inc                   | CUSIP: 34417P100<br>LEI: 5493006FFJCGLZ246V12 | Long             | EC               | CORP              | US        |     10830 | NS      | $488974.50    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Hexcel Corp                                    | Hexcel Corp                                    | CUSIP: 428291108<br>LEI: S6Q7LW43WUBUHXY2QP69 | Long             | EC               | CORP              | US        |     44200 | NS      | $3119636.00   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Livent Corp                                    | Livent Corp                                    | CUSIP: 53814L108<br>LEI: 254900OOLQ2VNMZTJL47 | Long             | EC               | CORP              | US        |     34920 | NS      | $905126.40    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| QuidelOrtho Corp                               | QuidelOrtho Corp                               | CUSIP: 219798105<br>LEI: 549300YU8CMO9HF53113 | Long             | EC               | CORP              | US        |      4332 | NS      | $370862.52    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Encompass Health Corp                          | Encompass Health Corp                          | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |     63898 | NS      | $3990430.10   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Astec Industries Inc                           | Astec Industries Inc                           | CUSIP: 046224101<br>LEI: 5493002DO2QKHLKB2A48 | Long             | EC               | CORP              | US        |     41800 | NS      | $1845052.00   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Shoals Technologies Group Inc                  | Shoals Technologies Group Inc                  | CUSIP: 82489W107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23730 | NS      | $661829.70    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Extreme Networks Inc                           | Extreme Networks Inc                           | CUSIP: 30226D106<br>LEI: 549300WRECW11X94UB57 | Long             | EC               | CORP              | US        |     52006 | NS      | $937668.18    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Standard Motor Products Inc                    | Standard Motor Products Inc                    | CUSIP: 853666105<br>LEI: THGK1EO5B5HK0JHQVZ90 | Long             | EC               | CORP              | US        |     14684 | NS      | $594114.64    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Performance Food Group Co                      | Performance Food Group Co                      | CUSIP: 71377A103<br>LEI: 549300EUK8GR9IT1YK57 | Long             | EC               | CORP              | US        |     35950 | NS      | $2204454.00   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Acushnet Holdings Corp                         | Acushnet Holdings Corp                         | CUSIP: 005098108<br>LEI: 529900W5FI106H543E43 | Long             | EC               | CORP              | US        |     14010 | NS      | $657769.50    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Valmont Industries Inc                         | Valmont Industries Inc                         | CUSIP: 920253101<br>LEI: 5493009ZGZJJ8F77JN08 | Long             | EC               | CORP              | US        |     11258 | NS      | $3712100.34   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| McGrath RentCorp                               | McGrath RentCorp                               | CUSIP: 580589109<br>LEI: 254900EUH6IPWFQ83445 | Long             | EC               | CORP              | US        |     18450 | NS      | $1836513.00   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Celsius Holdings Inc                           | Celsius Holdings Inc                           | CUSIP: 15118V207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7240 | NS      | $726316.80    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| XPEL Inc                                       | XPEL Inc                                       | CUSIP: 98379L100<br>LEI: 549300KWSE3IGXLJNW66 | Long             | EC               | CORP              | US        |     10151 | NS      | $772186.57    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercury Systems Inc                            | Mercury Systems Inc                            | CUSIP: 589378108<br>LEI: 549300P3B84SGK7HH679 | Long             | EC               | CORP              | US        |     34900 | NS      | $1744476.50   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Amicus Therapeutics Inc                        | Amicus Therapeutics Inc                        | CUSIP: 03152W109<br>LEI: 549300MRD1SMUTNBPQ53 | Long             | EC               | CORP              | US        |     48670 | NS      | $634656.80    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Chart Industries Inc                           | Chart Industries Inc                           | CUSIP: 16115Q308<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | EC               | CORP              | US        |      4250 | NS      | $569415.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Sotera Health Co                               | Sotera Health Co                               | CUSIP: 83601L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     94149 | NS      | $1623128.76   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Steven Madden Ltd                              | Steven Madden Ltd                              | CUSIP: 556269108<br>LEI: 549300Z9GZ7GYJWSGF43 | Long             | EC               | CORP              | US        |     58684 | NS      | $2103821.40   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Hawaii Corp                            | Bank of Hawaii Corp                            | CUSIP: 062540109<br>LEI: 5493006Q8BQ8AD8M2U33 | Long             | EC               | CORP              | US        |     40400 | NS      | $3090196.00   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Accolade Inc                                   | Accolade Inc                                   | CUSIP: 00437E102<br>LEI: 549300PHKG8J7A22NF08 | Long             | EC               | CORP              | US        |    186666 | NS      | $2178392.22   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| PROCEPT BioRobotics Corp                       | PROCEPT BioRobotics Corp                       | CUSIP: 74276L105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6470 | NS      | $251618.30    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Valley National Bancorp                        | Valley National Bancorp                        | CUSIP: 919794107<br>LEI: 549300ET52S1UBIB9762 | Long             | EC               | CORP              | US        |    125559 | NS      | $1491640.92   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Cousins Properties Inc                         | Cousins Properties Inc                         | CUSIP: 222795502<br>LEI: 5493007XPYD5EJABN062 | Long             | EC               |  | US        |     34522 | NS      | $946593.24    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Russell 2000 Value ETF                 | iShares Russell 2000 Value ETF                 | CUSIP: 464287630<br>LEI: 549300WJAJCAZZLTQD63 | Long             | EC               | RF                | US        |     23200 | NS      | $3528024.00   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Lattice Semiconductor Corp                     | Lattice Semiconductor Corp                     | CUSIP: 518415104<br>LEI: 549300LRBBPZDQ2II567 | Long             | EC               | CORP              | US        |     24892 | NS      | $1886564.68   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Independent Bank Corp                          | Independent Bank Corp                          | CUSIP: 453836108<br>LEI: 549300C5K3W8THR3GE10 | Long             | EC               | CORP              | US        |     40900 | NS      | $3259321.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Paycor HCM Inc                                 | Paycor HCM Inc                                 | CUSIP: 70435P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     36790 | NS      | $923796.90    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| World Fuel Services Corp                       | World Fuel Services Corp                       | CUSIP: 981475106<br>LEI: D3W7PCXCBRQLL17DZ313 | Long             | EC               | CORP              | US        |     88740 | NS      | $2511342.00   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| SpringWorks Therapeutics Inc                   | SpringWorks Therapeutics Inc                   | CUSIP: 85205L107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11600 | NS      | $364240.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Atkore Inc                                     | Atkore Inc                                     | CUSIP: 047649108<br>LEI: 52990002TI38AM4RPV48 | Long             | EC               | CORP              | US        |      4125 | NS      | $537281.25    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| SMART Global Holdings Inc                      | SMART Global Holdings Inc                      | CUSIP: 000000000<br>LEI: 529900RDGHQY8XKXPN14 | Long             | EC               | CORP              | KY        |     44028 | NS      | $756841.32    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| TopBuild Corp                                  | TopBuild Corp                                  | CUSIP: 89055F103<br>LEI: 5493007YSKHOL4RWII46 | Long             | EC               | CORP              | US        |      9047 | NS      | $1809942.82   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Caleres Inc                                    | Caleres Inc                                    | CUSIP: 129500104<br>LEI: JFU6RQQJ8Z1CPOLBXQ18 | Long             | EC               | CORP              | US        |     32247 | NS      | $839066.94    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| DigitalBridge Group Inc                        | DigitalBridge Group Inc                        | CUSIP: 25401T603<br>LEI: 549300XG87L902AGBO89 | Long             | EC               | CORP              | US        |     94944 | NS      | $1405171.20   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| AAON Inc                                       | AAON Inc                                       | CUSIP: 000360206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15910 | NS      | $1214251.20   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Stride Inc                                     | Stride Inc                                     | CUSIP: 86333M108<br>LEI: 254900BRWS3AFONWU277 | Long             | EC               | CORP              | US        |     45291 | NS      | $1944342.63   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| FTI Consulting Inc                             | FTI Consulting Inc                             | CUSIP: 302941109<br>LEI: 549300K17GM8EQD0FQ48 | Long             | EC               | CORP              | US        |     27754 | NS      | $4427318.08   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| PacWest Bancorp                                | PacWest Bancorp                                | CUSIP: 695263103<br>LEI: 549300YI8VMFO7G36V04 | Long             | EC               | CORP              | US        |     22631 | NS      | $625973.46    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Clear Secure Inc                               | Clear Secure Inc                               | CUSIP: 18467V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2580 | NS      | $80986.20     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Genpact Ltd                                    | Genpact Ltd                                    | CUSIP: 000000000<br>LEI: 529900OSEC6Q0L4L5B35 | Long             | EC               | CORP              | BM        |    154813 | NS      | $7319558.64   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingevity Corp                                  | Ingevity Corp                                  | CUSIP: 45688C107<br>LEI: 5493009UTFC4B5IMGF87 | Long             | EC               | CORP              | US        |     21548 | NS      | $1776417.12   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Hanover Insurance Group Inc/The                | Hanover Insurance Group Inc/The                | CUSIP: 410867105<br>LEI: JJYR6MFKFF6CF8DBZ078 | Long             | EC               | CORP              | US        |     28004 | NS      | $3768778.32   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| RenaissanceRe Holdings Ltd                     | RenaissanceRe Holdings Ltd                     | CUSIP: 000000000<br>LEI: EK6GB9U3U58PDI411C94 | Long             | EC               | CORP              | BM        |      4769 | NS      | $933245.61    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| BellRing Brands Inc                            | BellRing Brands Inc                            | CUSIP: 07831C103<br>LEI: 549300S3BOK5CMTS8054 | Long             | EC               | CORP              | US        |     60970 | NS      | $1729109.20   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| MakeMyTrip Ltd                                 | MakeMyTrip Ltd                                 | CUSIP: 000000000<br>LEI: 529900DNT8HNJ7RYUO60 | Long             | EC               | CORP              | MU        |    118944 | NS      | $3446997.12   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-28

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

**Signature:** Peter Fortner

**Name of Signer:** Peter Fortner

**Title:** Vice President