UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-08361

Goldman Sachs Variable Insurance Trust

(Exact name of registrant as specified in charter)

71 South Wacker Dr., Suite 500, Chicago, Illinois 60606-6303

(Address of principal executive offices)                                                             (Zip code)

Peter V. Bonanno, Esq.
Goldman, Sachs & Co.
One New York Plaza
New York, New York 10004 Copies to:
Jack W. Murphy
Dechert LLP
1775 I Street, N.W.
Washington, DC 20006

(Name and address of agent for service)

Registrant’s telephone number, including area code: (312) 655-4400

Date of fiscal year end:       December 31

Date of reporting period: March 31, 2007

GOLDMAN SACHS VARIABLE INSURANCE TRUST CAPITAL GROWTH FUND

Schedule of Investments

March 31, 2007 (Unaudited)

Shares		Description	Value
Common Stocks — 99.9%
Aerospace & Defense — 1.6%
	130,830	United Technologies Corp.	$	8,503,950
Apparel/Shoes — 0.5%
	107,600	Chico’s FAS, Inc.*		2,628,668
Audio & Visual Equipment — 1.1%
	61,520	Harman International Industries, Inc.		5,910,842
Banks — 1.0%
	65,200	SunTrust Banks, Inc.		5,414,208
Beverages — 4.3%
	125,080	Fortune Brands, Inc.		9,858,805
	203,100	PepsiCo., Inc.		12,909,036
				22,767,841
Biotechnology — 7.9%
	180,154	Amgen, Inc.*		10,067,006
	211,012	Celgene Corp.*		11,069,689
	130,800	Genentech, Inc.*		10,741,296
	271,000	MedImmune, Inc.*		9,861,690
				41,739,681
Commercial Services — 3.6%
	194,950	McGraw-Hill Companies, Inc. (The)		12,258,456
	106,590	Moody’s Corp.		6,614,975
				18,873,431
Computer Hardware — 1.6%
	449,100	EMC Corp.*		6,220,035
	110,700	Jabil Circuit, Inc.		2,370,087
				8,590,122
Computer Services — 4.0%
	101,200	CheckFree Corp.*		3,753,508
	326,791	First Data Corp.		8,790,678
	401,791	Western Union Co.		8,819,313
				21,363,499
Computer Software — 5.7%
	185,725	Electronic Arts, Inc.*		9,353,111
	746,268	Microsoft Corp.		20,798,489
				30,151,600
Drugs & Medicine — 0.8%
	85,035	Wyeth		4,254,301
Financials — 5.2%
	416,830	Charles Schwab Corp. (The)		7,623,821
	10,500	Chicago Mercantile Exchange Holdings, Inc. Class A		5,590,830
	50,500	Legg Mason, Inc.		4,757,605
	45,435	Merrill Lynch & Co., Inc.		3,710,676
	71,145	Morgan Stanley		5,603,380
				27,286,312
Household/Personal Care — 1.9%
	143,100	Newell Rubbermaid, Inc.		4,448,979
	85,300	Procter & Gamble Co.		5,387,548
				9,836,527
Internet & Online — 6.8%
	46,710	Google, Inc. Class A*		21,400,654
	457,274	Yahoo!, Inc.*		14,308,103
				35,708,757

Shares		Description	Value
Common Stocks — (continued)
Manufacturing — 1.4%
	123,100	Rockwell Automation, Inc.	$	7,369,997
Medical Products — 4.5%
	56,200	Baxter International, Inc.		2,960,054
	189,778	Medtronic, Inc.		9,310,509
	143,400	St. Jude Medical, Inc.*		5,393,274
	131,300	Thermo Fisher Scientific, Inc.*		6,138,275
				23,802,112
Medical Supplies — 0.6%
	65,790	Charles River Laboratories International, Inc.*		3,043,445
Movies & Entertainment — 1.0%
	128,674	Viacom, Inc. Class B*		5,289,788
Networking/Telecommunications Equipment — 3.8%
	536,990	Cisco Systems, Inc.*		13,709,355
	46,100	Research In Motion Ltd.*		6,292,189
				20,001,544
Oil & Gas — 7.5%
	243,940	Canadian Natural Resources Ltd.		13,463,049
	192,700	Chesapeake Energy Corp.		5,950,576
	92,000	Quicksilver Resources, Inc.*(a)		3,658,840
	219,320	Suncor Energy, Inc.		16,745,082
				39,817,547
Oil Well Services & Equipment — 6.5%
	185,838	Baker Hughes, Inc.		12,289,467
	65,900	Grant Prideco, Inc.*		3,284,456
	196,440	Schlumberger Ltd.		13,574,004
	111,700	Weatherford International Ltd.*		5,037,670
				34,185,597
Producer Goods — 0.8%
	56,210	W.W. Grainger, Inc.		4,341,660
Publishing — 1.6%
	61,611	Lamar Advertising Co. Class A		3,879,645
	164,200	National CineMedia, Inc.*		4,384,140
				8,263,785
Restaurants — 1.0%
	174,500	Starbucks Corp.*		5,472,320
Retail-Food & Drug — 0.5%
	78,800	CVS/Caremark Corp.		2,690,232
Retailing — 8.8%
	172,300	Home Depot, Inc. (The)		6,330,302
	49,300	J.C. Penney Co., Inc.		4,050,488
	345,540	Lowe’s Companies, Inc.		10,881,055
	183,890	Target Corp.		10,897,321
	247,320	Wal-Mart Stores, Inc.		11,611,674
	80,800	Williams-Sonoma, Inc.		2,865,168
				46,636,008
Semiconductors — 4.2%
	330,379	Linear Technology Corp.		10,436,673
	280,191	QUALCOMM, Inc.		11,952,948
				22,389,621
Specialty Finance — 5.8%
	142,160	American Express Co.		8,017,824
	101,907	Fannie Mae		5,562,084
	283,455	Freddie Mac		16,862,738
				30,442,646

GOLDMAN SACHS VARIABLE INSURANCE TRUST CAPITAL GROWTH FUND

Schedule of Investments (continued)

March 31, 2007 (Unaudited)

Shares		Description	Value
Common Stocks — (continued)
Technology Services — 0.8%
	50,120	Cognizant Technology Solutions Corp. Class A*	$	4,424,092
Telecommunications — 5.1%
	366,790	American Tower Corp. Class A*		14,286,470
	100,250	Crown Castle International Corp.*		3,221,033
	103,400	NeuStar, Inc. Class A*		2,940,696
	352,700	Sprint Nextel Corp.		6,687,192
				27,135,391
TOTAL INVESTMENTS BEFORE SECURITIES LENDING COLLATERAL			$	528,335,524
Securities Lending Collateral — 0.7%
	3,588,750	Boston Global Investment Trust - Enhanced Portfolio	$	3,588,750
TOTAL INVESTMENTS — 100.6%			$	531,924,274
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.6)%				(3,016,162	)
NET ASSETS — 100%			$	528,908,112

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.

* Non-income producing security.
(a) All or a portion of this security is on loan.

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.goldmansachsfunds.com.

GOLDMAN SACHS VARIABLE INSURANCE TRUST CAPITAL GROWTH FUND

Schedule of Investments (continued)

March 31, 2007 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

TAX INFORMATION — At March 31, 2007, the Fund’s aggregate security unrealized gains and losses based on cost for U.S. federal income tax purposes were as follows:

Tax Cost	$	492,501,305
Gross unrealized gain		50,135,122
Gross unrealized loss		(10,712,153	)
Net unrealized security gain	$	39,422,969

Additional information regarding the Fund is available in the Fund’s most recent Annual and Semiannual Reports to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).

GOLDMAN SACHS VARIABLE INSURANCE TRUST GROWTH AND INCOME FUND

Schedule of Investments

March 31, 2007 (Unaudited)

Shares		Description	Value
Common Stocks — 94.9%
Aerospace & Defence — 0.9%
	48,443	Boeing Co. (The)	$	4,307,067
Biotechnology — 1.4%
	23,871	Amgen, Inc.*		1,333,912
	140,900	MedImmune, Inc.*		5,127,351
				6,461,263
Brokers — 2.6%
	31,706	Lehman Brothers Holdings, Inc.		2,221,639
	63,272	Merrill Lynch & Co., Inc.		5,167,424
	60,706	Morgan Stanley		4,781,205
				12,170,268
Chemicals — 1.4%
	30,617	Air Products & Chemicals, Inc.		2,262,290
	89,800	E.I. du Pont de Nemours & Co.		4,438,814
				6,701,104
Computer Hardware — 2.9%
	168,047	Cisco Systems, Inc.*		4,290,240
	227,785	Hewlett-Packard Co.		9,143,290
				13,433,530
Computer Software — 1.1%
	274,276	Activision, Inc.*		5,194,788
Construction — 0.6%
	132,400	D.R. Horton, Inc.		2,912,800
Diversified Energy — 1.8%
	295,960	Williams Companies, Inc.		8,423,022
Drugs — 3.2%
	275,001	Pfizer, Inc.		6,946,525
	159,200	Wyeth		7,964,776
				14,911,301
Electrical Utilities — 6.7%
	47,121	Edison International		2,315,055
	159,257	Entergy Corp.		16,709,244
	67,702	Exelon Corp.		4,651,804
	44,283	FirstEnergy Corp.		2,933,306
	122,275	PPL Corp.		5,001,048
				31,610,457
Energy Resources — 8.0%
	94,907	Devon Energy Corp.		6,569,463
	63,934	EOG Resources, Inc.		4,561,052
	281,614	Exxon Mobil Corp.		21,247,776
	95,283	XTO Energy, Inc.		5,222,461
				37,600,752
Energy-Master Limited Partnerships — 4.8%
	92,043	Energy Transfer Partners LP		5,362,425
	211,853	Enterprise Products Partners LP		6,736,925
	105,304	Magellan Midstream Partners LP		4,928,227
	112,547	Williams Partners LP		5,371,868
				22,399,445
Environmental & Other Services — 1.8%
	240,373	Waste Management, Inc.		8,271,235
Food & Beverage — 1.6%
	66,200	Archer-Daniels-Midland Co.		2,429,540
	181,538	Unilever NV ADR		5,304,540
				7,734,080

Shares		Description	Value
Common Stocks — (continued)
Grocery — 0.5%
	60,200	SUPERVALU, Inc.	$	2,352,014
Home Products — 1.8%
	25,169	Clorox Co. (The)		1,603,014
	217,081	Newell Rubbermaid, Inc.		6,749,048
				8,352,062
Large Banks — 13.6%
	279,691	Bank of America Corp.		14,269,835
	315,950	Citigroup, Inc.		16,220,873
	187,398	JPMorgan Chase & Co.		9,066,315
	279,906	Wachovia Corp.		15,408,825
	261,800	Wells Fargo & Co.		9,013,774
				63,979,622
Life Insurance — 0.7%
	34,292	Hartford Financial Services Group, Inc.		3,277,629
Media — 1.8%
	429,581	Time Warner, Inc.		8,471,337
Medical Products — 2.1%
	142,715	Baxter International, Inc.		7,516,799
	45,823	Medtronic, Inc.		2,248,076
				9,764,875
Mining — 0.6%
	19,211	Nucor Corp.		1,251,212
	14,700	United States Steel Corp.		1,457,799
				2,709,011
Motor Vehicle — 0.9%
	70,707	Autoliv, Inc.		4,038,077
Paper & Packaging — 1.9%
	166,402	International Paper Co.		6,057,033
	107,447	Packaging Corp. of America		2,621,707
				8,678,740
Parts & Equipment — 4.1%
	336,272	General Electric Co.		11,890,578
	116,464	United Technologies Corp.		7,570,160
				19,460,738
Property Insurance — 3.5%
	50,568	Allstate Corp. (The)		3,037,114
	76,475	American International Group, Inc.		5,140,650
	65,800	PartnerRe Ltd.		4,509,932
	52,206	XL Capital Ltd. Class A(a)		3,652,332
				16,340,028
Regional Banks — 2.9%
	78,961	First Horizon National Corp.(a)		3,279,250
	187,267	KeyCorp		7,016,895
	99,514	Regions Financial Corp.		3,519,810
				13,815,955
REIT — 3.2%
	60,972	Apartment Investment & Management Co.		3,517,475
	153,237	CapitalSource, Inc.(a)		3,850,846
	18,036	Developers Diversified Realty Corp.		1,134,464
	78,687	iStar Financial, Inc.		3,684,912
	60,112	Mack-Cali Realty Corp.		2,863,135
				15,050,832

GOLDMAN SACHS VARIABLE INSURANCE TRUST GROWTH AND INCOME FUND

Schedule of Investments (continued)

March 31, 2007 (Unaudited)

Shares		Description	Value
Common Stocks — (continued)
Restaurants — 2.7%
	284,998	McDonald’s Corp.	$	12,839,160
Specialty Financials — 4.3%
	27,353	AllianceBernstein Holding LP		2,420,741
	37,888	Apollo Investment Corp.		810,803
	85,023	Countrywide Financial Corp.		2,860,174
	59,274	Freddie Mac		3,526,210
	257,495	Washington Mutual, Inc.		10,397,648
				20,015,576
Telephone — 9.0%
	672,000	AT&T, Inc.		26,496,960
	833,998	Sprint Nextel Corp.		15,812,602
				42,309,562
Tobacco — 2.0%
	104,980	Altria Group, Inc.		9,218,294
Transports — 0.5%
	22,227	Union Pacific Corp.		2,257,152
TOTAL COMMON STOCKS			$	445,061,776

Principal		Interest			Maturity
Amount		Rate			Date	Value
Short-Term Obligation — 4.8%
JPMorgan Chase Nassau — Time Deposit
$	22,451,781		5.262	%	04/02/07	$	22,451,781
TOTAL INVESTMENTS BEFORE SECURITIES LENDING COLLATERAL						$	467,513,557

Shares		Description	Value
Securities Lending Collateral — 1.3%
	5,906,225	Boston Global Investment Trust - Enhanced Portfolio	$	5,906,225
TOTAL INVESTMENTS — 101.0%			$	473,419,782
LIABILITIES IN EXCESS OF OTHER ASSETS — (1.0)%				(4,500,898	)
NET ASSETS — 100.0%			$	468,918,884

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.

* Non-income producing security.
(a) All or a portion of security is on loan.

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.goldmansachsfunds.com.

Investment Abbreviation:
ADR	— American Depository Receipt
REIT	— Real Estate Investment Trust

GOLDMAN SACHS VARIABLE INSURANCE TRUST GROWTH AND INCOME FUND

Schedule of Investments (continued)

March 31, 2007 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

TAX INFORMATION — At March 31, 2007, the Fund’s aggregate security unrealized gains and losses based on cost for U.S. federal income tax purposes were as follows:

Tax Cost	$	415,982,532
Gross unrealized gain		61,823,545
Gross unrealized loss		(4,386,295	)
Net unrealized security gain	$	57,437,250

Additional information regarding the Fund is available in the Fund’s most recent Annual and Semiannual Reports to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).

GOLDMAN SACHS VARIABLE INSURANCE TRUST MID CAP VALUE FUND

Schedule of Investments

March 31, 2007 (Unaudited)

Shares		Description	Value
Common Stocks — 99.3%
Biotechnology — 1.1%
	609,454	MedImmune, Inc.*	$	22,178,031
Brokers — 2.0%
	196,107	Bear Stearns Companies, Inc. (The)		29,484,687
	209,375	E*Trade Financial Corp.*		4,442,938
	145,052	Lazard Ltd. Class A		7,278,709
				41,206,334
Chemicals — 4.4%
	479,748	Agrium, Inc.		18,388,741
	200,847	Air Products and Chemicals, Inc.		14,840,585
	471,507	Airgas, Inc.		19,874,020
	141,218	Albemarle Corp.		5,837,952
	654,767	Celanese Corp. Series A		20,193,014
	858,300	Chemtura Corp.		9,381,219
				88,515,531
Computer Hardware — 3.4%
	535,536	Amphenol Corp. Class A		34,579,559
	1,483,090	Seagate Technology		34,555,997
				69,135,556
Computer Software — 2.1%
	2,180,411	Activision, Inc.*		41,296,984
Construction — 1.5%
	364,143	D.R. Horton, Inc.		8,011,146
	537,819	Lennar Corp. Class A		22,701,340
				30,712,486
Defense/Aerospace — 2.0%
	207,049	Alliant Techsystems, Inc.*		18,203,748
	334,700	Rockwell Collins, Inc.		22,401,471
				40,605,219
Diversified Energy — 2.5%
	1,765,668	Williams Companies, Inc. (The)		50,250,911
Drugs — 1.8%
	217,428	Charles River Laboratories International, Inc.*		10,058,219
	876,907	IMS Health, Inc.		26,009,062
				36,067,281
Electrical Utilities — 15.8%
	283,700	American Electric Power Co., Inc.		13,830,375
	402,978	CMS Energy Corp.		7,173,009
	69,904	Constellation Energy Group		6,078,153
	1,181,242	DPL, Inc.		36,724,814
	935,073	Edison International		45,940,136
	663,449	Entergy Corp.		69,609,069
	287,708	FirstEnergy Corp.		19,057,778
	376,508	Northeast Utilities		12,338,167
	939,097	PG&E Corp.(a)		45,330,212
	1,052,472	PPL Corp.		43,046,105
	89,170	Sierra Pacific Resources*		1,549,775
	364,181	Wisconsin Energy Corp.		17,670,062
				318,347,655
Energy Resources — 7.7%
	678,926	EOG Resources, Inc.		48,434,581
	2,044,485	Range Resources Corp.		68,285,799
	737,474	Ultra Petroleum Corp.*		39,181,994
				155,902,374

Shares		Description	Value
Common Stocks — (continued)
Environmental & Other Services — 2.4%
	2,605,058	Allied Waste Industries, Inc.*	$	32,797,680
	537,757	Republic Services, Inc.		14,960,400
				47,758,080
Food & Beverage — 0.6%
	159,182	Pepsi Bottling Group, Inc.		5,076,314
	236,388	Smithfield Foods, Inc.*		7,079,821
				12,156,135
Gas Utilities — 0.7%
	323,766	AGL Resources, Inc.		13,831,284
Grocery — 2.8%
	468,102	Safeway, Inc.		17,151,257
	1,009,430	SUPERVALU, Inc.		39,438,430
				56,589,687
Health Insurance — 2.0%
	310,360	Coventry Health Care, Inc.*		17,395,678
	408,577	Health Net, Inc.*		21,985,528
				39,381,206
Home Products — 3.0%
	439,662	Clorox Co. (The)		28,002,073
	1,041,395	Newell Rubbermaid, Inc.		32,376,971
				60,379,044
Hotel & Leisure — 0.6%
	246,900	Boyd Gaming Corp.		11,762,316
Information Services — 0.8%
	2,077,334	BearingPoint, Inc.*		15,912,378
Life Insurance — 1.8%
	212,720	Assurant, Inc.		11,408,174
	148,908	Lincoln National Corp.		10,094,473
	92,508	Torchmark Corp.		6,067,600
	400,049	Unum Group		9,213,128
				36,783,375
Media — 0.5%
	3,733,268	Charter Communications, Inc. Class A*(a)		10,415,818
Medical Products — 0.8%
	665,245	PerkinElmer, Inc.		16,112,234
Mining — 2.7%
	926,336	Commercial Metals Co.		29,040,634
	254,700	Steel Dynamics, Inc.		11,003,040
	145,400	United States Steel Corp.		14,419,318
				54,462,992
Motor Vehicle — 2.8%
	393,942	Autoliv, Inc.		22,498,028
	307,152	Avis Budget Group, Inc.*		8,391,393
	268,517	Johnson Controls, Inc.		25,407,078
				56,296,499
Oil Services — 0.7%
	186,499	BJ Services Co.		5,203,322
	200,993	W-H Energy Services, Inc.*		9,394,413
				14,597,735
Paper & Packaging — 1.6%
	692,617	MeadWestvaco Corp.		21,360,308
	475,702	Packaging Corp. of America		11,607,129
				32,967,437

GOLDMAN SACHS VARIABLE INSURANCE TRUST MID CAP VALUE FUND

Schedule of Investments (continued)

March 31, 2007 (Unaudited)

Shares		Description	Value
Common Stocks — (continued)
Parts & Equipment — 2.3%
	241,502	American Standard Companies, Inc.	$	12,804,436
	199,142	Carlisle Companies, Inc.		8,549,166
	531,930	Cooper Industries Ltd. Class A		23,931,531
				45,285,133
Property Insurance — 6.0%
	517,777	AMBAC Financial Group, Inc.		44,730,755
	267,740	Everest Re Group Ltd.		25,748,556
	155,441	MGIC Investment Corp.		9,158,584
	298,070	PartnerRe Ltd.		20,429,718
	190,681	PMI Group, Inc. (The)		8,622,595
	83,319	Radian Group, Inc.		4,572,547
	169,067	RenaissanceRe Holdings Ltd.		8,477,019
				121,739,774
Regional Banks — 5.9%
	112,357	City National Corp.		8,269,475
	267,843	Commerce Bancshares, Inc.		12,939,495
	321,579	First Horizon National Corp.(a)		13,355,176
	1,212,131	KeyCorp		45,418,549
	124,197	M&T Bank Corp.		14,385,738
	302,573	Zions Bancorp		25,573,470
				119,941,903
REIT — 6.9%
	483,703	Apartment Investment & Management Co.		27,904,826
	475,834	Brandywine Realty Trust		15,897,614
	157,007	Developers Diversified Realty Corp.		9,875,740
	235,560	Equity Residential		11,361,059
	373,852	Highwoods Properties, Inc.		14,763,415
	124,667	Home Properties, Inc.(a)		6,583,664
	84,697	iStar Financial, Inc.		3,966,361
	396,503	Liberty Property Trust		19,317,626
	355,673	Mack-Cali Realty Corp.		16,940,705
	265,193	Pennsylvania Real Estate Investment Trust		11,756,006
				138,367,016
Retail Apparel — 1.0%
	293,570	Ross Stores, Inc.		10,098,808
	293,634	Williams-Sonoma, Inc.(a)		10,412,262
				20,511,070
Semiconductors — 1.3%
	923,671	LSI Corp.*		9,643,125
	429,258	Tessera Technologies, Inc.*		17,058,713
				26,701,838
Specialty Financials — 2.3%
	426,499	CIT Group, Inc.		22,570,327
	245,435	Eaton Vance Corp.		8,747,303
	744,708	H&R Block, Inc.		15,668,656
				46,986,286
Telephone — 1.5%
	539,974	Embarq Corp.		30,427,535
Thrift Banks — 1.6%
	722,967	Hudson City Bancorp, Inc.		9,890,188
	464,151	Webster Financial Corp.		22,283,889
				32,174,077

Shares		Description	Value
Common Stocks — (continued)
Tobacco — 0.4%
	133,300	Reynolds American, Inc.	$	8,319,253
Transports — 0.7%
	177,972	Landstar System, Inc.		8,158,236
	124,501	Norfolk Southern Corp.		6,299,751
				14,457,987
Trust/Processors — 1.3%
	448,739	Northern Trust Corp.		26,987,164
TOTAL COMMON STOCKS			$	2,005,523,618

Principal		Interest			Maturity
Amount		Rate			Date	Value
Short-Term Obligation — 0.8%
JPMorgan Chase Nassau — Time Deposit
$	15,311,904		5.262	%	04/02/07	$	15,311,904
TOTAL INVESTMENTS BEFORE SECURITIES LENDING COLLATERAL						$	2,020,835,522

Shares		Description	Value
Securities Lending Collateral — 0.9%
	18,030,650	Boston Global Investment Trust - Enhanced Portfolio	$	18,030,650
TOTAL INVESTMENTS — 101.0%			$	2,038,866,172
LIABILITIES IN EXCESS OF OTHER ASSETS — (1.0)%				(19,272,911	)
NET ASSETS — 100.0%			$	2,019,593,261

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.

* Non-income producing security.
(a) All or portion of security is on loan.

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.goldmansachsfunds.com.

Investment Abbreviation:
REIT	— Real Estate Investment Trust

GOLDMAN SACHS VARIABLE INSURANCE TRUST MID CAP VALUE FUND

Schedule of Investments (continued)

March 31, 2007 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

TAX INFORMATION — At March 31, 2007, the Fund’s aggregate security unrealized gains and losses based on cost for U.S. federal income tax purposes were as follows:

Tax Cost	$	1,753,645,750
Gross unrealized gain		308,614,124
Gross unrealized loss		(23,393,702	)
Net unrealized security gain	$	285,220,422

Additional information regarding the Fund is available in the Fund’s most recent Annual and Semiannual Reports to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRATEGIC INTERNATIONAL EQUITY FUND^**

Schedule of Investments

March 31, 2007 (Unaudited)

Shares		Description	Value
Common Stocks — 95.8%
Australia — 2.8%
	1,794,826	Alumina Ltd. (Metals & Mining)	$	10,606,548
Belgium — 3.4%
	121,359	InBev NV (Beverages)		8,805,893
	68,365	UCB SA (Pharmaceuticals)		3,984,673
				12,790,566
Bermuda — 2.2%
	865,467	Catlin Group Ltd. (Insurance)		8,515,311
France — 10.3%
	42,792	Ipsen SA (Pharmaceuticals)		2,103,001
	86,090	Sanofi-Aventis (Pharmaceuticals)		7,491,057
	96,212	Technip SA(a) (Energy Equipment & Services)		6,999,707
	109,478	Total SA (Oil, Gas & Consumable Fuels)		7,648,231
	94,508	Vinci SA (Construction & Engineering)		14,736,990
				38,978,986
Germany — 10.2%
	522,950	Deutsche Telekom AG (Diversified Telecommunication Services)		8,659,808
	112,224	E.ON AG (Electric Utilities)		15,277,500
	76,666	Merck KGaA (Pharmaceuticals)		9,899,346
	49,277	Rheinmetall AG (Industrial Conglomerates)		4,599,881
				38,436,535
Hong Kong — 3.5%
	1,123,500	Esprit Holdings Ltd. (Specialty Retail)		13,165,164
India — 1.7%
	281,100	Satyam Computer Services Ltd. ADR (IT Services)		6,380,970
Israel — 1.8%
	179,418	Teva Pharmaceutical Industries Ltd. ADR (Pharmaceuticals)		6,715,616
Italy — 3.0%
	1,190,890	UniCredito Italiano SpA (Commercial Banks)		11,339,968
Japan — 15.4%
	224,900	Alpen Co. Ltd.(a) (Specialty Retail)		5,622,306
	232,600	Credit Saison Co. Ltd. (Consumer Finance)		7,626,036
	907,000	Hitachi Metals Ltd.(a) (Metals & Mining)		10,042,612
	393,200	Millea Holdings, Inc. (Insurance)		14,489,482
	1,479	Sumitomo Mitsui Financial Group, Inc. (Commercial Banks)		13,390,122
	175,000	Union Tool Co.(a) (Machinery)		7,167,875
				58,338,433
Netherlands — 5.6%
	236,442	ING Groep NV (Diversified Financial Services)		10,003,151
	242,507	TNT NV (Air Freight & Logistics)		11,147,102
				21,150,253

Shares		Description	Value
Common Stocks — (continued)
Norway — 2.3%
	581,125	Prosafe ASA(a) (Energy Equipment & Services)	$	8,749,011
Russia — 4.0%
	88,036	LUKOIL ADR London Shares (Oil, Gas & Consumable Fuels)		7,590,920
	7,950	LUKOIL ADR U.S. Shares (Oil, Gas & Consumable Fuels)		684,495
	16,197	Sberbank GDR* (Commercial Banks)		6,956,219
				15,231,634
South Korea — 2.0%
	82,400	Kookmin Bank (Commercial Banks)		7,409,860
Spain — 4.5%
	297,668	Banco Bilbao Vizcaya Argentaria SA (Commercial Banks)		7,309,344
	383,034	Indra Sistemas SA (IT Services)		9,676,529
				16,985,873
Sweden — 2.8%
	194,955	Svenska Cellulosa AB Series B(a) (Paper & Forest Products)		10,437,130
Switzerland — 5.7%
	118,345	Credit Suisse Group (Capital Markets)		8,519,502
	33,422	Nestle SA (Food Products)		13,023,839
				21,543,341
Taiwan — 1.9%
	682,339	Taiwan Semiconductor Manufacturing Co. Ltd. ADR (Semiconductors & Semiconductor Equipment)		7,335,144
United Kingdom — 12.7%
	977,896	Amvescap PLC (Capital Markets)		10,786,770
	953,930	Bodycote International PLC (Machinery)		5,832,718
	2,451,384	Old Mutual PLC (Insurance)		7,939,894
	892,642	Prudential PLC (Insurance)		12,613,507
	4,080,854	Vodafone Group PLC (Wireless Telecommunication Services)		10,911,647
				48,084,536
TOTAL COMMON STOCKS			$	362,194,879
Preferred Stock — 2.0%
Brazil — 2.0%
	228,467	Tim Participacoes SA ADR(a) (Wireless Telecommunication Services)	$	7,420,608

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRATEGIC INTERNATIONAL EQUITY FUND^**

Schedule of Investments (continued)

March 31, 2007 (Unaudited)

Principal		Interest			Maturity
Amount		Rate			Date	Value
Short-Term Obligation — 2.0%
JPMorgan Chase Nassau — Time Deposit
$	7,473,895		5.262	%	04/02/07	$	7,473,895
TOTAL INVESTMENTS BEFORE SECURITIES LENDING COLLATERAL						$	377,089,382

Shares		Description	Value
Securities Lending Collateral — 8.4%
	31,798,776	Boston Global Investment Trust - Enhanced Portfolio	$	31,798,776
TOTAL INVESTMENTS — 108.2%			$	408,888,158
LIABILITIES IN EXCESS OF OTHER ASSETS — (8.2)%				(30,881,824	)
NET ASSETS — 100.0%			$	378,006,334

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.

* Non-income producing security.

(a) All or portion of security is on loan.

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.goldmansachsfunds.com.

Investment Abbreviations:
ADR	— American Depositary Receipt
GDR	— Global Depositary Receipt

	As a % of
	Net Assets
Investments Industry Classifications †
Air Freight & Logistics		3.0	%
Beverages		2.3
Capital Markets		5.1
Commercial Banks		12.3
Construction & Engineering		3.9
Consumer Finance		2.0
Diversified Financial Services		2.6
Diversified Telecommunication Services		2.3
Electric Utilities		4.1
Energy Equipment & Services		4.2
Food Products		3.5
Industrial Conglomerates		1.2
Insurance		11.5
IT Services		4.2
Machinery		3.4
Metals & Mining		5.5
Oil, Gas & Consumable Fuels		4.2
Paper & Forest Products		2.8
Pharmaceuticals		8.0
Semiconductors & Semiconductor Equipment		1.9
Short-term Investments #		10.4
Specialty Retail		5.0
Wireless Telecommunication Services		4.8
TOTAL		108.2	%

† Industry concentrations greater than one-tenth of one percent are disclosed.

# Short-term investments include securities lending collateral.

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRATEGIC INTERNATIONAL EQUITY FUND^**

Schedule of Investments (continued)

March 31, 2007 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

TAX INFORMATION— At March 31, 2007, the Fund’s aggregate security unrealized gains and losses based on cost for U.S. federal income tax purposes were as follows:

Tax Cost	$	361,365,686
Gross unrealized gain		57,863,947
Gross unrealized loss		(10,341,475	)
Net unrealized security gain	$	47,522,472

Additional information regarding the Fund is available in the Fund’s most recent Annual and Semiannual Reports to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).

^** Effective April 30, 2007, the name of the Goldman Sachs Variable Insurance Trust International Equity Fund has changed to the Goldman Sachs Variable Insurance Trust Strategic International Equity Fund.

GOLDMAN SACHS VARIABLE INSURANCE TRUST GROWTH OPPORTUNITIES FUND

Schedule of Investments

March 31, 2007 (Unaudited)

Shares		Description	Value
Common Stocks — 100.2%
Aerospace & Defense — 2.0%
	48,200	Alliant Techsystems, Inc.*	$	4,237,744
Apparel/Shoes — 5.5%
	174,380	Chico’s FAS, Inc.*		4,260,103
	83,400	Coach, Inc.*		4,174,170
	121,070	Urban Outfitters, Inc.*		3,209,566
				11,643,839
Audio & Visual Equipment — 2.0%
	43,000	Harman International Industries, Inc.		4,131,440
Auto Parts & Related — 1.7%
	216,200	Gentex Corp.		3,513,250
Banks — 1.0%
	66,210	Commerce Bancorp, Inc.(a)		2,210,090
Beverages — 2.6%
	30,700	Hansen Natural Corp.*		1,162,916
	56,410	Fortune Brands, Inc.		4,446,236
				5,609,152
Biotechnology — 3.5%
	64,600	Celgene Corp.*		3,388,916
	108,700	MedImmune, Inc.*		3,955,593
				7,344,509
Broadcasting & Cable/Satellite TV — 2.3%
	415,900	Entravision Communications Corp. Class A*		3,884,506
	73,400	XM Satellite Radio Holdings, Inc. Class A*(a)		948,328
				4,832,834
Commercial Services — 2.4%
	134,200	Iron Mountain, Inc.*		3,506,646
	42,380	Suntech Power Holdings Co., Ltd. ADR*(a)		1,466,772
				4,973,418
Computer Hardware — 1.6%
	159,100	Jabil Circuit, Inc.		3,406,331
Computer Services — 3.8%
	114,000	CheckFree Corp.*		4,228,260
	54,200	Global Payments, Inc.		1,846,052
	71,300	MoneyGram International, Inc.		1,979,288
				8,053,600
Computer Software — 6.6%
	223,266	Activision, Inc.*		4,228,658
	82,400	Electronic Arts, Inc.*		4,149,664
	122,100	NAVTEQ Corp.*		4,212,450
	30,800	Salesforce.com, Inc.*		1,318,856
				13,909,628

Shares		Description	Value
Common Stocks — (continued)
Consumer Services — 0.5%
	24,650	Weight Watchers International, Inc.	$	1,136,119
Drugs & Medicine — 1.2%
	69,100	Amylin Pharmaceuticals, Inc.*(a)		2,581,576
Electrical Equipment — 2.0%
	140,000	Dresser-Rand Group, Inc.*		4,264,400
Financials — 2.8%
	28,000	HFF, Inc. Class A*		420,000
	44,500	Legg Mason, Inc.		4,192,345
	47,400	Raymond James Financial, Inc.		1,410,624
				6,022,969
Gaming/Lodging — 1.5%
	89,200	Hilton Hotels Corp.		3,207,632
Hospitals & Related — 0.8%
	41,800	Psychiatric Solutions, Inc.*		1,684,958
Health Care Services — 1.1%
	38,700	Covance, Inc.*		2,296,458
Household/Personal Care — 2.2%
	46,900	Chattem, Inc.*		2,764,286
	61,300	Newell Rubbermaid, Inc.		1,905,817
				4,670,103
Insurance — 3.0%
	59,200	Aon Corp.		2,247,232
	18,300	MGIC Investment Corp.		1,078,236
	17,600	Principal Financial Group, Inc.		1,053,712
	52,600	Willis Group Holdings Ltd.		2,081,908
				6,461,088
Internet & Online — 0.6%
	13,500	Baidu.com, Inc. ADR*		1,303,425
Manufacturing — 3.9%
	39,700	American Standard Companies, Inc.		2,104,894
	24,400	Kennametal, Inc.		1,649,684
	63,690	Rockwell Automation, Inc.		3,813,120
	11,900	Roper Industries, Inc.		653,072
				8,220,770
Medical Products — 6.4%
	42,105	C.R. Bard, Inc.		3,347,769
	52,700	Cytyc Corp.*		1,802,867
	114,200	St. Jude Medical, Inc.*		4,295,062
	88,720	Thermo Fisher Scientific, Inc.*		4,147,660
				13,593,358
Medical Supplies — 1.8%
	79,690	Charles River Laboratories International, Inc.*		3,686,459

GOLDMAN SACHS VARIABLE INSURANCE TRUST GROWTH OPPORTUNITIES FUND

Schedule of Investments (continued)

March 31, 2007 (Unaudited)

Shares		Description	Value
Common Stocks — (continued)
Networking/Telecommunications Equipment — 1.7%
	18,600	Leap Wireless International, Inc.*	$	1,227,228
	17,550	Research In Motion Ltd.*		2,395,399
				3,622,627
Oil & Gas — 2.4%
	73,300	Newfield Exploration Co.*		3,057,343
	50,800	Quicksilver Resources, Inc.*(a)		2,020,316
				5,077,659
Oil Well Services & Equipment — 9.2%
	79,650	Cameron International Corp.*		5,001,223
	96,300	Grant Prideco, Inc.*		4,799,592
	102,900	Smith International, Inc.		4,944,345
	103,810	Weatherford International Ltd.*		4,681,831
				19,426,991
Other Technology — 2.8%
	65,510	Amphenol Corp. Class A		4,229,981
	125,111	Cogent, Inc.*(a)		1,682,743
				5,912,724
Producer Goods — 1.9%
	51,500	W.W. Grainger, Inc.		3,977,860
Publishing — 3.2%
	20,600	Focus Media Holding Ltd. ADR*		1,616,276
	49,000	Getty Images, Inc.*		2,382,870
	16,000	Lamar Advertising Co. Class A		1,007,520
	66,600	National CineMedia, Inc.*		1,778,220
				6,784,886
Retailing — 4.6%
	93,600	Advance Auto Parts, Inc.		3,608,280
	19,700	J.C. Penney Co., Inc.		1,618,552
	129,300	Williams-Sonoma, Inc.(a)		4,584,978
				9,811,810
Semi-Capital — 3.9%
	92,400	Formfactor, Inc.*		4,134,900
	103,700	Tessera Technologies, Inc.*		4,121,038
				8,255,938
Semiconductors — 1.7%
	91,100	Linear Technology Corp.		2,877,849
	45,000	Marvell Technology Group Ltd.*		756,450
				3,634,299

Shares		Description	Value
Common Stocks — (continued)
Technology Services — 1.2%
	29,710	Cognizant Technology Solutions Corp. Class A*	$	2,622,502
Telecommunications — 4.8%
	67,800	American Tower Corp. Class A*		2,640,810
	50,600	Clearwire Corp. Class A*(a)		1,035,782
	107,700	Crown Castle International Corp.*		3,460,401
	107,800	NeuStar, Inc. Class A*		3,065,832
				10,202,825
TOTAL INVESTMENTS BEFORE SECURITIES LENDING COLLATERAL			$	212,325,271
Securities Lending Collateral — 5.9%
	12,389,711	Boston Global Investment Trust - Enhanced Portfolio	$	12,389,711
TOTAL INVESTMENTS — 106.1%			$	224,714,982
LIABILITIES IN EXCESS OF OTHER ASSETS — (6.1%)				(12,854,583	)
NET ASSETS — 100.0%			$	211,860,399

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.

* Non-income producing security.

(a) All or a portion of this security is on loan.

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.goldmansachsfunds.com.

Investment Abbreviation:
ADR	— American Depositary Receipt

GOLDMAN SACHS VARIABLE INSURANCE TRUST GROWTH OPPORTUNITIES FUND

Schedule of Investments (continued)

March 31, 2007 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

TAX INFORMATION — At March 31, 2007, the Fund’s aggregate security unrealized gains and losses based on cost for U.S. federal income tax purposes were as follows:

Tax Cost	$	212,589,424
Gross unrealized gain		22,561,175
Gross unrealized loss		(10,435,617	)
Net unrealized security gain	$	12,125,558

Additional information regarding the Fund is available in the Fund’s most recent Annual and Semiannual Reports to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).

GOLDMAN SACHS VARIABLE INSURANCE TRUST EQUITY INDEX FUND

Schedule of Investments

March 31, 2007 (Unaudited)

Shares		Description	Value
Common Stocks — 98.4%
Aerospace & Defense — 2.4%
	24,838	Boeing Co. (The)	$	2,208,347
	12,900	General Dynamics Corp.		985,560
	4,000	Goodrich Corp.		205,920
	25,375	Honeywell International, Inc.		1,168,772
	4,000	L-3 Communications Holdings, Inc.		349,880
	11,182	Lockheed Martin Corp.		1,084,878
	10,992	Northrop Grumman Corp.		815,826
	14,100	Raytheon Co.		739,686
	5,300	Rockwell Collins, Inc.		354,729
	31,700	United Technologies Corp.		2,060,500
				9,974,098
Air Freight & Couriers — 0.9%
	5,300	C.H. Robinson Worldwide, Inc.		253,075
	9,800	FedEx Corp.		1,052,814
	33,900	United Parcel Service, Inc. Class B		2,376,390
				3,682,279
Airlines — 0.1%
	24,318	Southwest Airlines Co.		357,475
Auto Components — 0.2%
	5,500	Goodyear Tire & Rubber Co. (The)*		171,545
	6,200	Johnson Controls, Inc.		586,644
				758,189
Automobiles — 0.4%
	60,181	Ford Motor Co.(a)		474,828
	18,000	General Motors Corp.		551,520
	8,200	Harley-Davidson, Inc.		481,750
				1,508,098
Beverages — 2.0%
	24,300	Anheuser-Busch Companies, Inc.		1,226,178
	2,500	Brown-Forman Corp. Class B		163,900
	63,700	Coca-Cola Co. (The)		3,057,600
	8,600	Coca-Cola Enterprises, Inc.		174,150
	6,900	Constellation Brands, Inc. Class A*		146,142
	1,500	Molson Coors Brewing Co. Class B		141,930
	3,900	Pepsi Bottling Group, Inc.		124,371
	51,810	PepsiCo., Inc.		3,293,044
				8,327,315
Biotechnology — 1.2%
	37,108	Amgen, Inc.*		2,073,595
	10,785	Biogen Idec, Inc.*		478,638
	11,900	Celgene Corp.*		624,274
	8,200	Genzyme Corp.*		492,164
	14,600	Gilead Sciences, Inc.*		1,116,900
	7,500	MedImmune, Inc.*		272,925
				5,058,496
Building Products — 0.2%
	5,700	American Standard Companies, Inc.		302,214
	12,500	Masco Corp.		342,500
				644,714

Shares		Description	Value
Common Stocks — (continued)
Capital Markets — 3.6%
	7,480	Ameriprise Financial, Inc.	$	427,407
	24,000	Bank of New York Co., Inc. (The)		973,200
	3,652	Bear Stearns Companies, Inc. (The)		549,078
	32,600	Charles Schwab Corp. (The)		596,254
	13,700	E*Trade Financial Corp.*		290,714
	2,800	Federated Investors, Inc. Class B		102,816
	5,230	Franklin Resources, Inc.		631,941
	13,000	Goldman Sachs Group, Inc. (The)		2,686,190
	6,000	Janus Capital Group, Inc.		125,460
	4,200	Legg Mason, Inc.		395,682
	16,700	Lehman Brothers Holdings, Inc.		1,170,169
	13,100	Mellon Financial Corp.		565,134
	28,100	Merrill Lynch & Co., Inc.		2,294,927
	33,534	Morgan Stanley		2,641,138
	6,000	Northern Trust Corp.		360,840
	10,500	State Street Corp.		679,875
	8,500	T. Rowe Price Group, Inc.		401,115
				14,891,940
Chemicals — 1.6%
	6,900	Air Products & Chemicals, Inc.		509,841
	1,800	Ashland, Inc.		118,080
	30,477	Dow Chemical Co. (The)		1,397,675
	29,400	E.I. du Pont de Nemours & Co.		1,453,242
	2,700	Eastman Chemical Co.		170,991
	5,600	Ecolab, Inc.		240,800
	3,500	Hercules, Inc.*		68,390
	2,500	International Flavors & Fragrances, Inc.		118,050
	17,254	Monsanto Co.		948,280
	5,300	PPG Industries, Inc.		372,643
	10,000	Praxair, Inc.		629,600
	4,375	Rohm & Haas Co.		226,275
	4,200	Sigma-Aldrich Corp.		174,384
				6,428,251
Commercial Banks — 4.0%
	17,100	BB&T Corp.		701,442
	5,050	Comerica, Inc.		298,556
	5,900	Commerce Bancorp, Inc.		196,942
	4,200	Compass Bancshares, Inc.		288,960
	17,705	Fifth Third Bancorp		685,006
	3,900	First Horizon National Corp.		161,967
	7,549	Huntington Bancshares, Inc.		164,946
	12,600	KeyCorp		472,122
	2,500	M&T Bank Corp.		289,575
	8,200	Marshall & Ilsley Corp.		379,742
	18,400	National City Corp.		685,400
	10,974	PNC Financial Services Group, Inc.		789,770
	23,125	Regions Financial Corp.		817,931
	11,300	SunTrust Banks, Inc.		938,352
	10,300	Synovus Financial Corp.		333,102
	56,234	U.S. Bancorp		1,966,503
	60,191	Wachovia Corp.		3,313,515
	106,860	Wells Fargo & Co.		3,679,190
	3,500	Zions Bancorp		295,820
				16,458,841

GOLDMAN SACHS VARIABLE INSURANCE TRUST EQUITY INDEX FUND

Schedule of Investments (continued)

March 31, 2007 (Unaudited)

Shares		Description	Value
Common Stocks — (continued)
Commercial Services & Supplies — 0.5%
	8,700	Allied Waste Industries, Inc.*	$	109,533
	3,000	Avery Dennison Corp.		192,780
	4,400	Cintas Corp.		158,840
	4,000	Equifax, Inc.		145,800
	4,000	Monster Worldwide, Inc.*		189,480
	7,100	Pitney Bowes, Inc.		322,269
	7,100	R.R. Donnelley & Sons Co.		259,789
	5,200	Robert Half International, Inc.		192,452
	16,935	Waste Management, Inc.		582,733
				2,153,676
Communications Equipment — 2.6%
	3,485	ADC Telecommunications, Inc.*		58,339
	1	Alcatel-Lucent ADR		12
	14,031	Avaya, Inc.*		165,706
	2,785	Ciena Corp.*		77,841
	191,200	Cisco Systems, Inc.*		4,881,336
	49,800	Corning, Inc.*		1,132,452
	7,225	JDS Uniphase Corp.*		110,037
	18,000	Juniper Networks, Inc.*		354,240
	75,935	Motorola, Inc.		1,341,771
	52,300	QUALCOMM, Inc.		2,231,118
	13,900	Tellabs, Inc.*		137,610
				10,490,462
Computers & Peripherals — 3.7%
	27,200	Apple Computer, Inc.*		2,527,152
	71,600	Dell, Inc.*		1,661,836
	66,700	EMC Corp.*		923,795
	84,698	Hewlett-Packard Co.		3,399,778
	47,700	International Business Machines Corp.		4,496,202
	3,100	Lexmark International, Inc. Class A*		181,226
	5,600	NCR Corp.*		267,512
	11,500	Network Appliance, Inc.*		419,980
	5,300	QLogic Corp.*		90,100
	7,200	SanDisk Corp.*		315,360
	111,400	Sun Microsystems, Inc.*		669,514
				14,952,455
Construction & Engineering — 0.1%
	2,800	Fluor Corp.		251,216
Construction Materials — 0.1%
	3,000	Vulcan Materials Co.		349,440
Consumer Finance — 0.9%
	37,900	American Express Co.		2,137,560
	12,973	Capital One Financial Corp.		978,942
	12,771	SLM Corp.		522,334
				3,638,836
Containers & Packaging — 0.2%
	3,200	Ball Corp.		146,720
	3,300	Bemis Co., Inc.		110,187
	3,900	Pactiv Corp.*		131,586
	5,216	Sealed Air Corp.		164,826
	3,400	Temple-Inland, Inc.		203,116
				756,435
Distributors — 0.1%
	5,350	Genuine Parts Co.		262,150
Diversified Consumer Services — 0.1%
	4,500	Apollo Group, Inc. Class A*		197,550
	10,100	H&R Block, Inc.		212,504
				410,054

Shares		Description	Value
Common Stocks — (continued)
Diversified Financials — 5.3%
	141,628	Bank of America Corp.	$	7,225,860
	1,056	Chicago Mercantile Exchange Holdings, Inc. Class A		562,278
	6,200	CIT Group, Inc.		328,104
	155,340	Citigroup, Inc.		7,975,156
	109,925	JPMorgan Chase & Co.		5,318,171
	7,500	Moody’s Corp.		465,450
				21,875,019
Diversified Telecommunication Services — 3.1%
	197,837	AT&T, Inc.		7,800,713
	3,700	CenturyTel, Inc.		167,203
	9,900	Citizens Communications Co.		148,005
	4,840	Embarq Corp.		272,734
	49,163	Qwest Communications International, Inc.*		441,975
	91,830	Verizon Communications, Inc.		3,482,194
	14,881	Windstream Corp.		218,602
				12,531,426
Electric Utilities — 1.9%
	5,000	Allegheny Energy, Inc.*		245,700
	12,640	American Electric Power Co., Inc.		616,200
	39,813	Duke Energy Corp.		807,806
	10,400	Edison International		510,952
	6,300	Entergy Corp.		660,996
	21,100	Exelon Corp.		1,449,781
	10,100	FirstEnergy Corp.		669,024
	12,800	FPL Group, Inc.		782,976
	3,300	Pinnacle West Capital Corp.		159,225
	12,200	PPL Corp.		498,980
	8,177	Progress Energy, Inc.		412,448
	23,600	Southern Co.		864,940
				7,679,028
Electrical Equipment — 0.4%
	5,600	Cooper Industries Ltd. Class A		251,944
	25,000	Emerson Electric Co.		1,077,250
	5,400	Rockwell Automation, Inc.		323,298
				1,652,492
Electronic Equipment & Instruments — 0.2%
	12,524	Agilent Technologies, Inc.*		421,934
	5,900	Jabil Circuit, Inc.		126,319
	4,325	Molex, Inc.		121,965
	18,500	Sanmina-SCI Corp.*		66,970
	28,300	Solectron Corp.*		89,145
	2,700	Tektronix, Inc.		76,032
				902,365
Energy Equipment & Services — 1.8%
	10,180	Baker Hughes, Inc.		673,203
	9,600	BJ Services Co.		267,840
	4,700	ENSCO International, Inc.		255,680
	31,300	Halliburton Co.		993,462
	8,600	Nabors Industries Ltd.*		255,162
	5,500	National-Oilwell Varco, Inc.*		427,845
	4,200	Noble Corp.		330,456
	3,500	Rowan Companies, Inc.		113,645
	37,200	Schlumberger Ltd.		2,570,520
	6,300	Smith International, Inc.		302,715
	9,227	Transocean, Inc.*		753,846
	10,900	Weatherford International Ltd.*		491,590
				7,435,964

GOLDMAN SACHS VARIABLE INSURANCE TRUST EQUITY INDEX FUND

Schedule of Investments (continued)

March 31, 2007 (Unaudited)

Shares		Description	Value
Common Stocks — (continued)
Food & Drug Retailing — 2.4%
	14,112	Costco Wholesale Corp.	$	759,790
	48,613	CVS/Caremark Corp.		1,659,648
	22,600	Kroger Co. (The)		638,450
	13,800	Safeway, Inc.		505,632
	6,773	SUPERVALU, INC.		264,621
	19,500	Sysco Corp.		659,685
	77,700	Wal-Mart Stores, Inc.		3,648,015
	31,500	Walgreen Co.		1,445,535
	4,500	Whole Foods Market, Inc.		201,825
				9,783,201
Food Products — 1.1%
	20,749	Archer-Daniels-Midland Co.		761,488
	6,900	Campbell Soup Co.		268,755
	16,100	ConAgra Foods, Inc.		401,051
	4,200	Dean Foods Co.		196,308
	10,800	General Mills, Inc.		628,776
	10,300	H.J. Heinz Co.		485,336
	5,500	Hershey Co. (The)		300,630
	8,100	Kellogg Co.		416,583
	5,900	Kraft Foods, Inc. Class A		186,794
	4,200	McCormick & Co., Inc.		161,784
	22,900	Sara Lee Corp.		387,468
	7,500	Tyson Foods, Inc. Class A		145,575
	6,950	Wm. Wrigley Jr. Co.		353,963
				4,694,511
Gas Utilities — 0.1%
	1,400	Nicor, Inc.		67,788
	2,700	Questar Corp.		240,867
				308,655
Healthcare Equipment & Supplies — 1.6%
	1,600	Bausch & Lomb, Inc.		81,856
	20,400	Baxter International, Inc.		1,074,468
	7,700	Becton, Dickinson and Co.		592,053
	7,825	Biomet, Inc.		332,484
	37,206	Boston Scientific Corp.*		540,975
	3,100	C.R. Bard, Inc.		246,481
	4,990	Hospira, Inc.*		204,091
	36,300	Medtronic, Inc.		1,780,878
	10,800	St. Jude Medical, Inc.*		406,188
	9,400	Stryker Corp.		623,408
	4,200	Varian Medical Systems, Inc.*		200,298
	7,570	Zimmer Holdings, Inc.*		646,554
				6,729,734
Healthcare Providers & Services — 2.3%
	16,492	Aetna, Inc.		722,185
	6,100	AmerisourceBergen Corp.		321,775
	12,700	Cardinal Health, Inc.		926,465
	3,100	CIGNA Corp.		442,246
	5,000	Coventry Health Care, Inc.*		280,250
	4,300	Express Scripts, Inc.*		347,096
	5,300	Humana, Inc.*		307,506
	3,900	Laboratory Corp. of America Holdings*		283,257
	2,300	Manor Care, Inc.		125,028
	9,214	McKesson Corp.		539,388
	9,200	Medco Health Solutions, Inc.*		667,276
	4,600	Patterson Companies, Inc.*		163,254
	5,100	Quest Diagnostics, Inc.		254,337

Shares		Description	Value
Common Stocks — (continued)
Healthcare Providers & Services — (continued)
	15,750	Tenet Healthcare Corp.*	$	101,272
	42,700	UnitedHealth Group, Inc.		2,261,819
	19,500	WellPoint, Inc.*		1,581,450
				9,324,604
Healthcare Technology — 0.0%
	6,400	IMS Health, Inc.		189,824
Hotels, Restaurants & Leisure — 1.6%
	14,100	Carnival Corp.		660,726
	4,600	Darden Restaurants, Inc.		189,474
	6,000	Harrah’s Entertainment, Inc.		506,700
	12,500	Hilton Hotels Corp.		449,500
	10,800	International Game Technology		436,104
	10,400	Marriott International, Inc. Class A		509,184
	38,265	McDonald’s Corp.		1,723,838
	23,900	Starbucks Corp.*		749,504
	6,900	Starwood Hotels & Resorts Worldwide, Inc.		447,465
	2,900	Wendy’s International, Inc.		90,770
	6,026	Wyndham Worldwide Corp.*		205,788
	8,220	Yum! Brands, Inc.		474,787
				6,443,840
Household Durables — 0.6%
	2,100	Black & Decker Corp. (The)		171,402
	4,000	Centex Corp.		167,120
	9,000	D.R. Horton, Inc.		198,000
	4,800	Fortune Brands, Inc.		378,336
	2,100	Harman International Industries, Inc.		201,768
	2,400	KB HOME		102,408
	6,000	Leggett & Platt, Inc.		136,020
	4,400	Lennar Corp. Class A		185,724
	9,033	Newell Rubbermaid, Inc.		280,836
	6,700	Pulte Homes, Inc.		177,282
	2,000	Snap-On, Inc.		96,200
	2,700	Stanley Works (The)		149,472
	2,459	Whirlpool Corp.		208,794
				2,453,362
Household Products — 2.1%
	4,800	Clorox Co. (The)		305,712
	16,100	Colgate-Palmolive Co.		1,075,319
	14,540	Kimberly-Clark Corp.		995,845
	99,978	Procter & Gamble Co.		6,314,610
				8,691,486
Independent Power Producers & Energy Traders — 0.5%
	21,300	AES Corp. (The)*		458,376
	5,750	Constellation Energy Group, Inc.		499,963
	11,397	Dynegy, Inc. Class A*		105,536
	14,580	TXU Corp.		934,578
				1,998,453
Industrial Conglomerates — 3.8%
	23,300	3M Co.		1,780,819
	325,300	General Electric Co.		11,502,608
	4,000	Textron, Inc.		359,200
	62,837	Tyco International Ltd.		1,982,507
				15,625,134
Insurance — 4.7%
	10,400	ACE Ltd.		593,424
	15,700	Aflac, Inc.		738,842
	19,638	Allstate Corp. (The)		1,179,458
	3,300	AMBAC Financial Group, Inc.		285,087

GOLDMAN SACHS VARIABLE INSURANCE TRUST EQUITY INDEX FUND

Schedule of Investments (continued)

March 31, 2007 (Unaudited)

Shares		Description	Value
Common Stocks — (continued)
Insurance — (continued)
	82,379	American International Group, Inc.	$	5,537,516
	9,650	Aon Corp.		366,314
	13,000	Chubb Corp. (The)		671,710
	5,568	Cincinnati Financial Corp.		236,083
	14,200	Genworth Financial, Inc.		496,148
	10,100	Hartford Financial Services Group, Inc.		965,358
	8,760	Lincoln National Corp.		593,840
	14,400	Loews Corp.		654,192
	17,700	Marsh & McLennan Companies, Inc.		518,433
	4,250	MBIA, Inc.		278,333
	23,900	MetLife, Inc.		1,509,285
	8,600	Principal Financial Group, Inc.		514,882
	23,700	Progressive Corp. (The)		517,134
	14,900	Prudential Financial, Inc.		1,344,874
	3,300	SAFECO Corp.		219,219
	3,100	Torchmark Corp.		203,329
	21,390	Travelers Companies, Inc. (The)		1,107,360
	10,918	UnumProvident Corp.		251,442
	5,800	XL Capital Ltd. Class A		405,768
				19,188,031
Internet & Catalog Retail — 0.2%
	9,900	Amazon.com, Inc.*		393,921
	7,100	IAC/InterActiveCorp.*		267,741
				661,662
Internet Software & Services — 1.4%
	36,000	eBay, Inc.*		1,193,400
	6,890	Google, Inc. Class A*		3,156,722
	7,800	VeriSign, Inc.*		195,936
	38,300	Yahoo!, Inc.*		1,198,407
				5,744,465
IT Consulting & Services — 1.1%
	3,200	Affiliated Computer Services, Inc. Class A*		188,416
	17,500	Automatic Data Processing, Inc.		847,000
	4,600	Cognizant Technology Solutions Corp. Class A*		406,042
	5,300	Computer Sciences Corp.*		276,289
	4,600	Convergys Corp.*		116,886
	16,400	Electronic Data Systems Corp.		453,952
	5,100	Fidelity National Information Services, Inc.		231,846
	24,149	First Data Corp.		649,608
	5,350	Fiserv, Inc.*		283,871
	10,850	Paychex, Inc.		410,889
	4,308	Sabre Holdings Corp. Class A		141,087
	11,900	Unisys Corp.*		100,317
	24,449	Western Union Co. (The)		536,656
				4,642,859
Leisure Equipment & Products — 0.2%
	2,700	Brunswick Corp.		85,995
	9,000	Eastman Kodak Co.		203,040
	5,350	Hasbro, Inc.		153,117
	11,912	Mattel, Inc.		328,414
				770,566
Life Sciences Tools & Services — 0.3%
	5,700	Applera Corporation-Applied Biosystems Group		168,549
	1,700	Millipore Corp.*		123,199
	3,900	PerkinElmer, Inc.		94,458
	12,900	Thermo Fisher Scientific, Inc.*		603,075
	3,200	Waters Corp.*		185,600
				1,174,881

Shares		Description	Value
Common Stocks — (continued)
Machinery — 1.6%
	20,500	Caterpillar, Inc.	$	1,374,115
	1,700	Cummins, Inc.		246,024
	7,600	Danaher Corp.		543,020
	7,200	Deere & Co.		782,208
	6,300	Dover Corp.		307,503
	4,700	Eaton Corp.		392,732
	12,900	Illinois Tool Works, Inc.		665,640
	9,600	Ingersoll-Rand Co., Ltd. Class A		416,352
	5,900	ITT Corp.		355,888
	7,895	PACCAR, Inc.		579,493
	3,900	Pall Corp.		148,200
	3,575	Parker Hannifin Corp.		308,558
	3,200	Terex Corp.*		229,632
				6,349,365
Media — 3.4%
	23,264	CBS Corp. Class B		711,646
	15,600	Clear Channel Communications, Inc.		546,624
	98,117	Comcast Corp. Class A*		2,546,136
	24,600	DIRECTV Group, Inc. (The)*		567,522
	2,300	Dow Jones & Co., Inc.		79,281
	2,500	E.W. Scripps Co. Class A		111,700
	7,500	Gannett Co., Inc.		422,175
	13,971	Interpublic Group of Companies, Inc.*		171,983
	11,200	McGraw-Hill Companies, Inc. (The)		704,256
	1,100	Meredith Corp.		63,129
	4,900	New York Times Co. Class A(a)		115,199
	74,700	News Corp. Class A		1,727,064
	5,200	Omnicom Group, Inc.		532,376
	120,298	Time Warner, Inc.		2,372,277
	5,387	Tribune Co.		172,977
	21,664	Viacom, Inc. Class B*		890,607
	64,529	Walt Disney Co. (The)		2,221,733
				13,956,685
Metals & Mining — 0.9%
	27,508	Alcoa, Inc.		932,521
	3,251	Allegheny Technologies, Inc.		346,849
	11,455	Freeport-McMoRan Copper & Gold, Inc.		758,206
	14,211	Newmont Mining Corp.		596,720
	9,600	Nucor Corp.		625,248
	3,720	United States Steel Corp.		368,912
				3,628,456
Multi-Utilities — 1.2%
	6,600	Ameren Corp.		331,980
	9,698	CenterPoint Energy, Inc.		173,982
	7,400	CMS Energy Corp.		131,720
	8,200	Consolidated Edison, Inc.		418,692
	11,050	Dominion Resources, Inc.		980,909
	5,800	DTE Energy Co.		277,820
	2,332	Integrys Energy Group, Inc.		129,449
	5,400	KeySpan Corp.		222,210
	8,900	NiSource, Inc.		217,516
	10,900	PG&E Corp.		526,143
	8,000	Public Service Enterprise Group, Inc.		664,320
	8,413	Sempra Energy		513,277
	7,100	TECO Energy, Inc.		122,191
	12,710	Xcel Energy, Inc.		313,810
				5,024,019

GOLDMAN SACHS VARIABLE INSURANCE TRUST EQUITY INDEX FUND

Schedule of Investments (continued)

March 31, 2007 (Unaudited)

Shares		Description	Value
Common Stocks — (continued)
Multiline Retail — 1.2%
	3,500	Big Lots, Inc.*	$	109,480
	1,800	Dillard’s, Inc. Class A		58,914
	9,687	Dollar General Corp.		204,880
	4,700	Family Dollar Stores, Inc.		139,214
	16,634	Federated Department Stores, Inc.		749,362
	7,200	J.C. Penney Co., Inc.		591,552
	10,400	Kohl’s Corp.*		796,744
	7,400	Nordstrom, Inc.		391,756
	2,600	Sears Holdings Corp.*		468,416
	27,100	Target Corp.		1,605,946
				5,116,264
Office Electronics — 0.1%
	30,200	Xerox Corp.*		510,078
Oil & Gas — 8.1%
	14,658	Anadarko Petroleum Corp.		630,001
	10,400	Apache Corp.		735,280
	13,000	Chesapeake Energy Corp.		401,440
	68,353	Chevron Corp.		5,055,388
	52,041	ConocoPhillips		3,557,002
	5,800	CONSOL Energy, Inc.		226,954
	14,000	Devon Energy Corp.		969,080
	22,230	El Paso Corp.		321,668
	7,800	EOG Resources, Inc.		556,452
	180,160	Exxon Mobil Corp.		13,593,072
	8,600	Hess Corp.		477,042
	3,400	Kinder Morgan, Inc.		361,930
	10,956	Marathon Oil Corp.		1,082,781
	6,000	Murphy Oil Corp.		320,400
	26,600	Occidental Petroleum Corp.		1,311,646
	8,500	Peabody Energy Corp.		342,040
	20,006	Spectra Energy Corp.		525,558
	3,900	Sunoco, Inc.		274,716
	19,200	Valero Energy Corp.		1,238,208
	19,000	Williams Companies, Inc. (The)		540,740
	11,700	XTO Energy, Inc.		641,277
				33,162,675
Paper & Forest Products — 0.3%
	14,440	International Paper Co.		525,616
	5,798	MeadWestvaco Corp.		178,810
	6,792	Weyerhaeuser Co.		507,634
				1,212,060
Personal Products — 0.2%
	14,000	Avon Products, Inc.		521,640
	3,700	Estee Lauder Companies, Inc. Class A (The)		180,745
				702,385
Pharmaceuticals — 6.2%
	48,700	Abbott Laboratories		2,717,460
	4,900	Allergan, Inc.		543,018
	3,400	Barr Pharmaceuticals, Inc.*		157,590
	64,200	Bristol-Myers Squibb Co.		1,782,192
	31,400	Eli Lilly & Co.		1,686,494
	10,100	Forest Laboratories, Inc.*		519,544
	91,660	Johnson & Johnson		5,523,432
	7,766	King Pharmaceuticals, Inc.*		152,757
	68,500	Merck & Co., Inc.		3,025,645
	6,800	Mylan Laboratories, Inc.		143,752
	224,384	Pfizer, Inc.		5,667,940

Shares		Description	Value
Common Stocks — (continued)
Pharmaceuticals — (continued)
	47,200	Schering-Plough Corp.	$	1,204,072
	3,600	Watson Pharmaceuticals, Inc.*		95,148
	42,800	Wyeth		2,141,284
				25,360,328
Real Estate Investment Trusts — 1.3%
	3,000	Apartment Investment & Management Co.		173,070
	7,100	Archstone-Smith Trust		385,388
	2,500	Avalonbay Communities, Inc.		325,000
	3,700	Boston Properties, Inc.		434,380
	4,000	Developers Diversified Realty Corp.		251,600
	9,500	Equity Residential		458,185
	16,600	Host Hotels & Resorts, Inc.		436,746
	7,300	Kimco Realty Corp.		355,802
	5,600	Plum Creek Timber Co., Inc.		220,752
	7,800	ProLogis		506,454
	3,900	Public Storage, Inc.		369,213
	7,000	Simon Property Group, Inc.		778,750
	4,100	Vornado Realty Trust		489,294
				5,184,634
Real Estate Management & Development — 0.0%
	5,800	CB Richard Ellis Group, Inc. Class A*		198,244
	6,698	Realogy Corp.*		198,328
				396,572
Road & Rail — 0.8%
	11,452	Burlington Northern Santa Fe Corp.		921,084
	13,900	CSX Corp.		556,695
	12,700	Norfolk Southern Corp.		642,620
	2,000	Ryder System, Inc.		98,680
	8,600	Union Pacific Corp.		873,330
				3,092,409
Semiconductor Equipment & Products — 2.3%
	17,300	Advanced Micro Devices, Inc.*		225,938
	11,300	Altera Corp.*		225,887
	10,400	Analog Devices, Inc.		358,696
	44,100	Applied Materials, Inc.		807,912
	14,650	Broadcom Corp. Class A*		469,826
	182,100	Intel Corp.		3,483,573
	6,300	KLA-Tencor Corp.		335,916
	9,500	Linear Technology Corp.		300,105
	24,300	LSI Logic Corp.*		253,692
	10,200	Maxim Integrated Products, Inc.		299,880
	24,100	Micron Technology, Inc.*		291,128
	9,300	National Semiconductor Corp.		224,502
	3,900	Novellus Systems, Inc.*		124,878
	11,300	NVIDIA Corp.*		325,214
	7,400	PMC-Sierra, Inc.*		51,874
	6,000	Teradyne, Inc.*		99,240
	45,800	Texas Instruments, Inc.		1,378,580
	10,400	Xilinx, Inc.		267,592
				9,524,433
Software — 3.2%
	18,500	Adobe Systems, Inc.*		771,450
	7,300	Autodesk, Inc.*		274,480
	6,700	BMC Software, Inc.*		206,293
	13,504	CA, Inc.		349,889
	5,600	Citrix Systems, Inc.*		179,368
	11,000	Compuware Corp.*		104,390
	10,000	Electronic Arts, Inc.*		503,600

GOLDMAN SACHS VARIABLE INSURANCE TRUST EQUITY INDEX FUND

Schedule of Investments (continued)

March 31, 2007 (Unaudited)

Shares		Description	Value
Common Stocks — (continued)
Software — (continued)
	10,500	Intuit, Inc.*	$	287,280
	273,000	Microsoft Corp.		7,608,510
	12,000	Novell, Inc.*		86,640
	125,820	Oracle Corp.*		2,281,117
	29,018	Symantec Corp.*		502,011
				13,155,028
Specialty Retail — 2.0%
	2,700	Abercrombie & Fitch Co.		204,336
	4,772	AutoNation, Inc.*		101,357
	1,600	AutoZone, Inc.*		205,024
	9,000	Bed Bath & Beyond, Inc.*		361,530
	12,750	Best Buy Co., Inc.		621,180
	5,000	Circuit City Stores, Inc.		92,650
	16,850	Gap, Inc. (The)		289,989
	64,397	Home Depot, Inc. (The)		2,365,946
	10,400	Limited Brands, Inc.		271,024
	48,000	Lowe’s Companies, Inc.		1,511,520
	8,900	Office Depot, Inc.*		312,746
	2,400	OfficeMax, Inc.		126,576
	4,300	RadioShack Corp.		116,229
	3,500	Sherwin-Williams Co. (The)		231,140
	23,000	Staples, Inc.		594,320
	4,400	Tiffany & Co.		200,112
	14,300	TJX Companies, Inc. (The)		385,528
				7,991,207
Textiles & Apparel — 0.5%
	11,600	Coach, Inc.*		580,580
	3,700	Jones Apparel Group, Inc.		113,701
	3,200	Liz Claiborne, Inc.		137,120
	6,000	Nike, Inc. Class B		637,560
	2,000	Polo Ralph Lauren Corp.		176,300
	2,900	VF Corp.		239,598
				1,884,859
Thrifts & Mortgage Finance — 1.3%
	18,398	Countrywide Financial Corp.		618,909
	30,800	Fannie Mae		1,681,064
	21,800	Freddie Mac		1,296,882
	15,700	Hudson City Bancorp, Inc.		214,776
	2,600	MGIC Investment Corp.		153,192
	11,785	Sovereign Bancorp, Inc.		299,810
	28,240	Washington Mutual, Inc.		1,140,331
				5,404,964
Tobacco — 1.6%
	66,500	Altria Group, Inc.		5,839,365
	5,300	Reynolds American, Inc.		330,773
	5,100	UST, Inc.		295,698
				6,465,836
Trading Companies & Distributors — 0.0%
	2,300	W.W. Grainger, Inc.		177,652
Wireless Telecommunication Services — 0.6%
	11,400	ALLTEL Corp.		706,800
	91,410	Sprint Nextel Corp.		1,733,134
				2,439,934
TOTAL COMMON STOCKS			$	402,595,825

			Expiration
Units		Description	Date	Value
Warrant* — 0.0%
Aerospace & Defense — 0.0%
	1,845	Raytheon Co.	6/16/11	$	32,011

Principal		Interest			Maturity
Amount		Rate			Date	Value
U.S. Government Obligation — 0.1%
United States Treasury Bill
$	550,000		5.002	%	06/07/07	$	544,979
Short-Term Obligation — 1.4%
JPMorgan Chase Nassau — Time Deposit
$	5,875,339		5.262	%	04/02/07	$	5,875,339
TOTAL INVESTMENTS BEFORE SECURITIES LENDING COLLATERAL						$	409,048,154

Shares		Description	Value
Securities Lending Collateral — 0.1%
	542,500	Boston Global Investment Trust - Enhanced Portfolio	$	542,500
TOTAL INVESTMENTS — 100.0%			$	409,590,654
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.0%)				(335,244	)
NET ASSETS — 100.0%			$	409,255,410

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.

* Non-income producing security.

(a) All or a portion of this security is on loan.

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.goldmansachsfunds.com.

Investment Abbreviation:
ADR	— American Depositary Receipt

GOLDMAN SACHS VARIABLE INSURANCE TRUST EQUITY INDEX FUND

Schedule of Investments (continued)

March 31, 2007 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FUTURES CONTRACTS — At March 31, 2007, the following future contracts were open:

	Number of		Settlement	Market		Unrealized
Type	Contracts Long		Month	Value		Gain
S&P 500 Index		109	June 2007	$	7,800,040	$	64,553

TAX INFORMATION — At March 31, 2007, the Fund’s aggregate security unrealized gains and losses based on cost for U.S. federal income tax purposes were as follows:

Tax Cost	$	323,259,301
Gross unrealized gain		98,821,931
Gross unrealized loss		(12,490,578	)
Net unrealized security gain	$	86,331,353

Additional information regarding the Fund is available in the Fund’s most recent Annual and Semiannual Reports to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments

March 31, 2007 (Unaudited)

Principal		Interest			Maturity
Amount		Rate			Date	Value
Corporate Bonds — 18.7%
Automotive — 0.2%
DaimlerChrysler NA Holding Corp.
$	550,000		8.500	%	01/18/31	$	687,571
Banks — 4.4%
Asian Development Bank
	5,000,000		1.000		10/01/15		3,584,840
Greater Bay Bancorp Series B
	500,000		5.250		03/31/08		498,959
MUFG Capital Finance 1 Ltd.(a)
	850,000		6.346		07/29/49		867,370
Nordea Bank Sweden AB(a)(b)
	2,100,000		8.950		11/29/49		2,274,065
Popular North America, Inc.
	1,425,000		5.650		04/15/09		1,430,895
Resona Bank Ltd.(a)(b)
	1,250,000		5.850		09/29/49		1,243,890
Tokai Preferred Capital Co. LLC(a)(b)
	1,250,000		9.980		12/29/49		1,316,473
VTB Capital SA for Vneshtorgbank(a)(b)
	980,000		5.960		08/01/08		980,490
							12,196,982
Electric — 2.3%
Arizona Public Service Co.
	475,000		6.375		10/15/11		492,362
	350,000		6.250		08/01/16		360,071
CenterPoint Energy, Inc. Series B
	1,000,000		7.250		09/01/10		1,055,583
MidAmerican Energy Holdings Co.
	1,250,000		7.520		09/15/08		1,288,664
	750,000		6.125		04/01/36		747,308
Pacific Gas & Electric Co.
	1,800,000		6.050		03/01/34		1,792,380
Progress Energy, Inc.
	200,000		5.625		01/15/16		201,785
	350,000		7.000		10/30/31		388,308
							6,326,461
Energy — 0.5%
Canadian Natural Resources Ltd.
	225,000		5.700		05/15/17		225,400
	50,000		5.850		02/01/35		46,677
	400,000		6.500		02/15/37		406,780
	150,000		6.250		03/15/38		147,743
Kerr-McGee Corp.
	550,000		6.950		07/01/24		580,556
							1,407,156
Entertainment — 0.3%
Time Warner Entertainment Co. LP
	750,000		8.375		03/15/23		884,888
Time Warner, Inc.
	100,000		6.500		11/15/36		99,838
							984,726
Environmental — 0.3%
Waste Management, Inc.
	750,000		7.375		08/01/10		796,569

Principal		Interest			Maturity
Amount		Rate			Date	Value
Corporate Bonds — (continued)
Financial Companies — 3.7%
Farmer Mac Guaranteed Notes Trust Series 2006-2(b)
$	4,400,000		5.500	%	07/15/11	$	4,494,983
GATX Financial Corp.
	1,000,000		8.875		06/01/09		1,070,636
HBOS Treasury Services PLC(b)
	2,500,000		5.250		02/21/17		2,516,650
PHH Corp.
	1,225,000		6.000		03/01/08		1,227,724
Residential Capital Corp.
	1,000,000		6.125		11/21/08		999,346
	100,000		6.500		04/17/13		98,945
							10,408,284
Food & Beverage — 0.4%
Nabisco, Inc.
	1,000,000		7.050		07/15/07		1,004,259
Life Insurance — 0.5%
American International Group, Inc.
	225,000		6.250		03/15/37		222,833
Phoenix Life Insurance Co.(b)
	450,000		7.150		12/15/34		477,059
Swiss Re Capital I LP(a)(b)
	700,000		6.854		05/29/49		723,145
							1,423,037
Media — 0.9%
Comcast Corp.
	625,000		6.450		03/15/37		628,146
Cox Communications, Inc.
	1,750,000		4.625		01/15/10		1,724,884
Viacom, Inc.
	300,000		5.750		04/30/11		303,956
							2,656,986
Pipelines — 0.9%
Boardwalk Pipelines LP
	575,000		5.875		11/15/16		578,348
Energy Transfer Partners LP
	275,000		5.650		08/01/12		278,326
	475,000		5.950		02/01/15		481,949
Enterprise Products Operating LP
	450,000		5.600		10/15/14		448,778
	325,000		5.000		03/01/15		309,770
ONEOK Partners LP
	325,000		6.650		10/01/36		333,891
							2,431,062
Property/Casualty Insurance — 1.2%
AON Capital Trust A
	500,000		8.205		01/01/27		562,034
Arch Capital Group Ltd.
	475,000		7.350		05/01/34		512,577
Aspen Insurance Holdings Ltd.
	350,000		6.000		08/15/14		348,442
Chubb Corp.(a)
	525,000		6.375		03/29/67		524,879
Endurance Specialty Holdings Ltd.
	375,000		6.150		10/15/15		374,432
Marsh & McClennan Cos., Inc.
	600,000		5.150		09/15/10		596,537
White Mountains Reinsurance Group Ltd.(b)
	600,000		6.375		03/20/17		592,284
							3,511,185

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments (continued)

March 31, 2007 (Unaudited)

Principal		Interest			Maturity
Amount		Rate			Date	Value
Corporate Bonds — (continued)
REIT — 0.6%
Highwoods Properties, Inc.(b)
$	425,000		5.850	%	03/15/17	$	421,392
iStar Financial, Inc. Series B
	1,300,000		5.700		03/01/14		1,292,951
							1,714,343
Tobacco — 0.1%
Altria Group, Inc.
	125,000		7.750		01/15/27		149,933
Wireless Telecommunications — 1.3%
America Movil SA de CV
	1,000,000		5.500		03/01/14		990,260
New Cingular Wireless Services, Inc.
	675,000		7.875		03/01/11		738,592
	500,000		8.750		03/01/31		647,175
Nextel Communications, Inc.
	900,000		6.875		10/31/13		924,750
Sprint Capital Corp.
	25,000		6.875		11/15/28		24,867
Telecom Italia Capital SA
	300,000		4.875		10/01/10		294,717
							3,620,361
Wirelines Telecommunications — 1.1%
Deutsche Telekom International Finance BV
	700,000		8.250		06/15/30		867,018
Embarq Corp.
	150,000		7.995		06/01/36		154,879
GTE Corp.
	750,000		7.510		04/01/09		781,188
Telecom Italia Capital SA
	225,000		4.000		01/15/10		217,316
	800,000		4.950		09/30/14		755,676
Telefonica Europe BV
	300,000		7.750		09/15/10		323,271
							3,099,348
TOTAL CORPORATE BONDS						$	52,418,263
Mortgage-Backed Obligations — 60.9%
Adjustable Rate FHLMC(a) — 2.2%
$	2,530,497		4.847	%	09/01/35	$	2,521,019
	3,684,101		4.732		10/01/35		3,624,897
							6,145,916
Adjustable Rate FNMA(a) — 4.2%
	2,042,727		4.460		05/01/33		2,038,745
	1,583,870		3.850		10/01/33		1,582,572
	2,490,691		4.573		05/01/35		2,518,904
	2,953,501		5.356		09/01/35		2,989,596
	2,541,306		4.917		12/01/35		2,536,080
							11,665,897
Adjustable Rate Non-Agency(a) — 23.8%
Banc of America Commercial Mortgage, Inc.
Series 2005-6, Class A4
	3,000,000		5.182		09/10/47		2,979,860
Bear Stearns Mortgage Funding Trust
Series 2006-AR1, Class 2A1
	2,369,706		5.540		08/25/36		2,368,614
Chase Mortgage Finance Corp.
Series 2007-A1, Class 2A1
	2,968,818		4.143		02/25/37		2,913,588
Countrywide Alternative Loan Trust
Series 2005-59, Class 1A2A
	1,072,951		5.730		11/20/35		1,078,541

Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
Adjustable Rate Non-Agency(a) — (continued)
Countrywide Alternative Loan Trust
Series 2006-OA10, Class 4A1
$	2,790,088		5.510	%	08/25/46	$	2,788,509
Countrywide Alternative Loan Trust
Series 2006-OA16, Class A2
	4,600,665		5.510		10/25/46		4,588,718
Downey Savings & Loan Association Mortgage Loan Trust
Series 2006-AR2, Class 2A1A
	2,041,264		5.520		11/19/37		2,045,143
GE Capital Commercial Mortgage Corp.
Series 2005-C4, Class A4
	3,000,000		5.332		11/10/45		3,013,219
Indymac Index Mortgage Loan Trust
Series 2006-AR2, Class 1A1A
	1,921,130		5.540		04/25/46		1,923,467
Indymac Index Mortgage Loan Trust
Series 2006-AR4, Class A1A
	2,004,130		5.530		05/25/46		2,005,735
J.P. Morgan Mortgage Trust Series 2007-A1, Class 1A1
	989,814		4.204		07/25/35		974,353
J.P. Morgan Mortgage Trust Series 2007-A1, Class 2A2
	984,946		4.767		07/25/35		977,391
J.P. Morgan Mortgage Trust Series 2007-A1, Class 5A2
	981,125		4.771		07/25/35		972,236
Luminent Mortgage Capital Trust Series 2006-2, Class A1A
	1,922,958		5.520		02/25/46		1,921,378
Master Adjustable Rate Mortgages Trust
Series 2006-OA2, Class 4A1A
	1,920,595		5.833		12/25/46		1,920,595
Merrill Lynch Mortgage Investors, Inc.
Series 2005-A9, Class 2A1C
	3,000,000		5.152		12/25/35		2,988,523
Morgan Stanley Capital I Series 2006-T21, Class A4
	3,500,000		5.162		10/12/52		3,456,646
Morgan Stanley Capital I Series 2007-T25, Class A3
	2,000,000		5.514		11/12/49		2,019,161
Thornburg Mortgage Securities Trust
Series 2006-4, Class A2B
	2,804,431		5.440		07/25/36		2,802,323
Thornburg Mortgage Securities Trust
Series 2006-5, Class A1
	2,643,272		5.440		08/25/36		2,639,175
Wachovia Bank Commercial Mortgage Trust
Series 2005-C21, Class A4
	3,000,000		5.201		10/15/44		2,984,936
Washington Mutual, Inc. Series 2005-AR10, Class 1A3
	2,000,000		4.836		09/25/35		1,998,557
Washington Mutual, Inc. Series 2006-AR11, Class 1A
	3,541,350		5.943		09/25/46		3,550,203
Washington Mutual, Inc. Series 2006-AR11, Class 3A1A
	944,882		5.903		09/25/46		946,506
Washington Mutual, Inc. Series 2006-AR13, Class 1A
	1,808,567		5.863		10/25/46		1,811,675
Washington Mutual, Inc. Series 2006-AR17, Class 1A
	885,029		5.803		12/25/46		886,640
Washington Mutual, Inc. Series 2006-AR19, Class 1A
	939,789		5.673		01/25/47		938,614
Washington Mutual, Inc. Series 2007-OA2, Class 1A
	961,052		5.683		03/25/47		960,151

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments (continued)

March 31, 2007 (Unaudited)

Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
Adjustable Rate Non-Agency(a) — (continued)
Washington Mutual Alternative Mortgage Pass-Through Certificates
Series 2006-AR7, Class A1A
$	1,672,283		5.903	%	09/25/46	$	1,675,157
Washington Mutual Alternative Mortgage Pass-Through Certificates
Series 2006-AR9, Class 2A
	2,897,611		5.823		11/25/46		2,902,139
Wells Fargo Mortgage Backed Securities Trust
Series 2006-AR10, Class 5A3
	1,686,328		5.607		07/25/36		1,683,834
							66,715,587
CMBS — Sequential Fixed Rate — 7.1%
Banc of America Commercial Mortgage, Inc.
Series 2006-5, Class A4
	1,500,000		5.414		09/10/47		1,504,210
Bear Stearns Commercial Mortgage Securities
Series 1999-WF2, Class A2
	2,700,000		7.080		07/15/31		2,785,227
Bear Stearns Commercial Mortgage Securities
Series 2006-T24, Class A4
	1,750,000		5.537		10/12/41		1,770,350
Citigroup Commercial Mortgage Trust
Series 2006-C5, Class A4
	3,000,000		5.431		10/15/49		3,008,079
GE Capital Commercial Mortgage Corp.
Series 2002-1A, Class A3
	2,700,000		6.269		12/10/35		2,821,471
J.P. Morgan Chase Commercial Mortgage Securities Corp.
Series 2005-LDP2, Class A4
	1,500,000		4.738		07/15/42		1,439,302
JP Morgan Chase Commercial Mortgage Securities Corp.
Series 2006-CB17, Class A4
	2,000,000		5.429		12/12/43		2,004,094
LB-UBS Commercial Mortgage Trust
Series 2006-C1, Class A4
	2,000,000		5.156		02/15/31		1,970,905
Morgan Stanley Dean Witter Capital I
Series 2003-TOP9, Class A2
	2,700,000		4.740		11/13/36		2,638,961
TOTAL CMBS						$	19,942,599
CMO — 1.1%
Interest Only(a)(c) — 0.0%
FNMA Series 2004-71, Class DI
	673,352		0.000		04/25/34		26,824
PAC — 1.0%
FHLMC Series 1686, Class PH
	7,991		5.000		05/15/21		7,973
FNMA Series 2003-92, Class PD
	3,000,000		4.500		03/25/17		2,940,190
							2,948,163
Sequential Fixed Rate — 0.1%
FHLMC Series 2473, Class VM
	266,346		6.000		10/15/07		265,890
TOTAL CMO						$	3,240,877
FHLMC — 9.9%
	111,734		7.000		08/01/10		113,932
	212		7.000		09/01/11		217
	16,724		7.000		11/01/11		17,155
	31,365		7.000		12/01/11		32,172
	120,391		7.500		06/01/15		124,922

Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
FHLMC — (continued)
$	317,096		7.000	%	07/01/16	$	324,052
	1,749,322		5.500		02/01/18		1,756,920
	125,150		5.500		04/01/18		125,693
	215,623		4.500		05/01/18		209,248
	50,512		4.500		06/01/18		49,018
	204,506		4.500		09/01/18		198,459
	220,432		5.500		09/01/18		221,389
	149,009		4.500		10/01/18		144,603
	805		7.500		10/01/18		807
	153,610		4.500		11/01/18		149,068
	1,073,373		4.500		12/01/18		1,041,635
	3,707,859		5.000		12/01/18		3,665,871
	56,054		4.500		01/01/19		54,397
	111,375		4.500		03/01/19		108,031
	4,542,271		4.000		06/01/19		4,293,850
	26,877		9.500		08/01/19		28,872
	5,099,233		5.000		11/01/19		5,036,011
	227,135		5.000		02/01/20		223,931
	1,146		9.500		08/01/20		1,234
	407,936		6.500		10/01/20		421,610
	28,977		9.500		02/01/21		30,876
	3,069,068		5.000		06/01/23		2,988,340
	47,488		6.500		01/01/24		48,914
	281,895		6.500		12/01/27		290,220
	155,646		6.000		03/01/29		157,904
	2,075		6.000		04/01/29		2,105
	84,650		7.500		12/01/29		88,315
	4,639		7.500		11/01/30		4,834
	554,099		6.500		12/01/31		570,933
	728,198		7.000		05/01/32		755,562
	3,597		6.000		08/01/32		3,646
	466,812		7.000		12/01/32		484,354
	3,832,690		6.500		10/01/34		3,949,125
							27,718,225
FNMA — 11.6%
	11,557		6.500		05/01/08		11,804
	1,295		8.500		07/01/08		1,308
	959		8.000		04/01/09		965
	3,335		9.000		02/01/10		3,477
	86,856		6.000		08/01/13		88,280
	27,086		7.500		01/01/14		27,140
	464,119		7.500		08/01/15		479,629
	111,150		6.000		04/01/16		113,088
	220,356		6.500		05/01/16		225,675
	330,794		6.500		09/01/16		338,779
	431,105		6.500		11/01/16		441,512
	112,515		6.000		12/01/16		114,477
	823,775		6.000		02/01/17		838,148
	149,434		7.500		04/01/17		154,658
	1,237,073		6.000		10/01/17		1,258,658
	1,131,422		5.500		02/01/18		1,136,030
	349,041		4.500		04/01/18		338,713
	2,958,420		4.500		05/01/18		2,870,878
	1,231,443		5.000		05/01/18		1,217,098
	3,993,513		4.500		06/01/18		3,875,343
	212,238		4.500		07/01/18		205,958
	118,031		6.500		08/01/18		120,645
	491,695		7.000		08/01/18		513,163
	4,528,388		4.000		09/01/18		4,283,330
	5,615,568		4.500		01/01/19		5,449,399

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments (continued)

March 31, 2007 (Unaudited)

Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
FNMA — (continued)
$	734		7.000	%	07/01/25	$	764
	29,208		7.500		10/01/25		30,530
	11,435		7.000		11/01/25		11,896
	81,316		9.000		11/0125		88,416
	4,237		7.000		08/01/27		4,410
	26,484		7.000		09/01/27		27,567
	1,003		7.000		01/01/28		1,044
	4,580		7.500		03/01/28		4,788
	860,220		6.000		02/01/29		873,078
	490,698		6.000		03/01/29		497,739
	197,962		6.500		03/01/29		204,216
	425,181		6.000		05/01/29		431,282
	49,848		6.500		05/01/29		51,393
	1,222,944		6.000		06/01/29		1,240,493
	314,992		6.500		06/01/29		324,755
	153,612		6.500		07/01/29		158,373
	276,411		6.500		08/01/29		284,979
	7,830		7.000		09/01/29		8,155
	128,323		6.500		10/01/29		132,301
	105,217		8.000		10/01/29		111,641
	173,717		6.500		11/01/29		179,102
	143,001		6.500		12/01/29		147,434
	55,817		7.000		12/01/29		58,132
	20,166		7.500		12/01/29		21,054
	9,346		7.500		04/01/30		9,756
	1,652		8.500		04/01/30		1,777
	56,719		7.500		05/01/30		59,216
	13,432		8.000		05/01/30		13,936
	564		8.500		06/01/30		607
	13,309		7.500		08/01/30		13,893
	38,443		7.500		09/01/30		40,131
	277,506		6.500		04/01/31		285,757
	52,651		7.000		05/01/32		54,736
	382,946		7.000		06/01/32		397,413
	462,670		7.000		08/01/32		480,149
	140,900		8.000		08/01/32		148,887
	2,000,001		7.500		12/01/36		2,071,856
							32,579,811
GNMA — 1.0%
	744		6.500		09/15/08		748
	74,824		7.000		03/15/12		76,376
	66,344		7.000		06/15/23		69,245
	22,568		7.000		10/15/25		23,549
	35,535		7.000		11/15/25		37,080
	4,694		7.000		02/15/26		4,892
	21,190		7.000		04/15/26		22,083
	9,776		7.000		03/15/27		10,164
	1,411		7.000		06/15/27		1,467
	26,069		7.000		10/15/27		27,103
	188,079		7.000		11/15/27		195,540
	10,453		7.000		01/15/28		10,866
	77,182		7.000		02/15/28		80,231
	26,086		7.000		03/15/28		27,117
	12,507		7.000		04/15/28		13,001
	1,630		7.000		05/15/28		1,694
	29,205		7.000		06/15/28		30,359
	53,035		7.000		07/15/28		55,130
	144,796		7.000		08/15/28		150,516
	66,816		7.000		09/15/28		69,456
	11,562		7.000		11/15/28		12,019

Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
GNMA — (continued)
$	6,223		7.500	%	11/15/30	$	6,486
	4,267		7.000		10/15/31		4,435
	1,497		7.000		12/15/31		1,556
	38,599		7.500		10/15/32		40,252
	1,752,202		6.000		08/20/34		1,774,335
							2,745,700
TOTAL MORTGAGE-BACKED OBLIGATIONS						$	170,754,612
Agency Debentures — 13.1%
FHLB
	6,000,000		4.570		10/17/08		5,964,735
	10,000,000		5.823		05/06/09		10,186,700
	1,800,000		4.000		12/30/11		1,731,193
	6,990,000		4.875		12/14/12		6,986,860
	5,000,000		4.750		11/14/14		4,937,931
FNMA
	5,000,000		4.500		06/01/10		4,945,485
Tennessee Valley Authority
	2,000,000		5.375		04/01/56		2,012,212
TOTAL AGENCY DEBENTURES						$	36,765,116
U.S. Treasury Obligations — 4.6%
United States Treasury Bonds
	1,540,000		4.500		02/15/36		1,453,976
United States Treasury Inflation-Protected Securities
	771,393		1.875		07/15/13		761,936
	1,288,476		2.000		07/15/14		1,276,802
	2,080,542		1.875		07/15/15		2,035,228
	300,660		2.500		07/15/16		308,697
	200,726		2.375		01/15/17		203,831
	301,089		2.375		01/15/27		303,571
United States Treasury Notes
	1,500,000		4.875		08/15/16		1,524,495
United States Treasury Principal-Only STRIPS (d)
	1,400,000		0.000		11/15/21		679,070
	5,000,000		0.000		11/15/24		2,089,000
	1,300,000		0.000		08/15/25		524,147
	1,400,000		0.000		08/15/26		537,684
	3,200,000		0.000		11/15/26		1,214,336
TOTAL U.S. TREASURY OBLIGATIONS						$	12,912,773
Short-Term Obligation — 0.6%
JPMorgan Chase Nassau — Time Deposit
$	1,658,854		5.262		04/02/07	$	1,658,855
TOTAL INVESTMENTS — 97.9%						$	274,509,619
OTHER ASSETS IN EXCESS OF LIABILITIES — 2.1%							5,779,832
NET ASSETS — 100.0%						$	280,289,451

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments (continued)

March 31, 2007 (Unaudited)

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.

(a) Variable rate security. Interest rate disclosed is that which is in effect at March 31, 2007.

(b) Securities are exempt from registration under Rule 144A of the Securities Act of 1933. Under procedures approved by the Board of Trustees, such securities have been determined to be liquid by the Investment Adviser and may be resold, normally to qualified institutional buyers in transactions exempt from registration. Total market value of Rule 144A securities amounts to $15,040,431, which represents approximately 5.4% of net assets as of March 31, 2007.

(c) Represents security with notional principal amount. The actual effective yield of this security is different than the stated interest rate.

(d) Security issued with a zero coupon. Income is recognized through the accretion of discount.

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.goldmansachsfunds.com.

Investment Abbreviations:
CMBS	— Commercial Mortgage Backed Securities
CMO	— Collateralized Mortgage Obligations
FHLB	— Federal Home Loan Bank
FHLMC	— Federal Home Loan Mortgage Corp.
FNMA	— Federal National Mortgage Association
GNMA	— Government National Mortgage Association
PAC	— Planned Amortization Class
REIT	— Real Estate Investment Trust
STRIPS	— Separate Trading of Registered Interest and Principal of Securities

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments (continued)

March 31, 2007 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FORWARD FOREIGN CURRENCY CONTRACTS — At March 31, 2007, the Fund had outstanding forward foreign currency exchange contracts, both to purchase and sell foreign currencies:

Open Forward Foreign Currency			Value on				Unrealized
Purchase Contracts	Expiration Date		Settlement Date		Current Value		Gain (Loss)
Australian Dollar		6/20/07	$	3,008,621	$	3,043,657	$	35,036
British Pound		6/20/07		7,089,223		7,245,737		156,514
Canadian Dollar		6/20/07		1,105,000		1,124,493		19,493
Euro		6/20/07		1,988,938		1,994,637		5,699
Japanese Yen		6/20/07		2,871,000		2,854,695		(16,305	)
New Zealand Dollar		6/20/07		1,321,000		1,319,905		(1,095	)
Norwegian Krone		6/20/07		7,421,212		7,482,747		61,535
Swiss Franc		6/20/07		3,976,000		3,961,832		(14,168	)
Swedish Krona		6/20/07		633,152		637,501		4,349
TOTAL OPEN FORWARD FOREIGN CURRENCY PURCHASE CONTRACTS			$	29,414,146	$	29,665,204	$	251,058

Open Forward Foreign Currency			Value on				Unrealized
Sale Contracts	Expiration Date		Settlement Date		Current Value		Gain (Loss)
Australian Dollar		6/20/07	$	442,000	$	447,477	$	(5,477	)
British Pound		6/20/07		3,312,998		3,340,618		(27,620	)
Canadian Dollar		6/20/07		4,812,156		4,882,295		(70,139	)
Euro		6/20/07		2,421,000		2,423,589		(2,589	)
Japanese Yen		6/20/07		5,202,963		5,179,756		23,207
New Zealand Dollar		6/20/07		1,549,096		1,594,351		(45,255	)
Norwegian Krone		6/20/07		2,430,000		2,446,679		(16,679	)
Swiss Franc		6/20/07		9,846,081		9,853,296		(7,215	)
TOTAL OPEN FORWARD FOREIGN CURRENCY SALE CONTRACTS			$	30,016,294	$	30,168,061	$	(151,767	)

FUTURES CONTRACTS — At March 31, 2007, the following futures contracts were open:

	Number of
	Contracts	Settlement				Unrealized
Type	Long (Short)	Month	Market Value			Gain (Loss)
Eurodollars	39	June 2007	$	9,236,663		$	(1,108	)
Eurodollars	14	September 2007		3,322,375			(2,410	)
Eurodollars	(278)	December 2007		(66,111,875	)		25,130
Eurodollars	(4)	March 2008		(952,750	)		(414	)
Eurodollars	(4)	June 2008		(953,450	)		(1,264	)
U.S. Treasury Bonds	(117)	June 2007		(13,016,250	)		148,680
3 Year Australian Bond	270	June 2007		21,763,051			(155,565	)
10 Year Australian Bond	24	June 2007		1,960,001			(33,633	)
2 Year U.S. Treasury Notes	15	June 2007		3,073,359			(4,246	)
5 Year U.S. Treasury Notes	390	June 2007		41,260,781			(88,352	)
10 Year U.S. Treasury Notes	15	June 2007		1,621,875			(4,480	)
TOTAL			$	1,203,780		$	(117,662	)

TAX INFORMATION — At March 31, 2007, the Fund’s aggregate security unrealized gains and losses based on cost for U.S. federal income tax purposes were as follows:

Tax Cost	$	274,159,761
Gross unrealized gain		1,901,342
Gross unrealized loss		(1,551,484	)
Net unrealized security gain	$	349,858

Additional information regarding the Fund is available in the Fund’s most recent Annual and Semiannual Reports to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).

GOLDMAN SACHS VARIABLE INSURANCE TRUST GOVERNMENT INCOME FUND

Schedule of Investments

March 31, 2007 (Unaudited)

Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — 59.4%
Adjustable Rate FHLMC(a) — 2.0%
$	843,499		4.847	%	09/01/35	$	840,340
	921,025		4.732		10/01/35		906,224
							1,746,564
Adjustable Rate FNMA(a) — 4.1%
	680,909		4.460		05/01/33		679,582
	791,935		3.848		10/01/33		791,286
	1,245,345		4.573		05/01/35		1,259,451
	847,102		4.917		12/01/35		845,360
							3,575,679
Adjustable Rate Non-Agency(a) — 14.6%
Bear Stearns Commercial Mortgage Securities Series 2006-PW12, Class A4
	500,000		5.711		09/11/38		515,472
Citigroup Commercial Mortgage Trust Series 2006-C4, Class A3
	500,000		5.724		03/15/49		515,508
Citigroup/Deutsche Bank Commercial Mortgage Trust Series 2005-CD1, Class A4
	1,000,000		5.226		07/15/44		998,002
Commercial Mortgage Pass Through Certificates Series 2006-C7, Class A4
	1,000,000		5.769		06/10/46		1,033,947
Countrywide Alternative Loan Trust Series 2005-59, Class 1A2A
	715,301		5.730		11/20/35		719,027
Indymac Index Mortgage Loan Trust Series 2006-AR2, Class1A1A
	768,452		5.540		04/25/46		769,387
J.P. Morgan Mortgage Trust Series 2007-A1, Class 2A2
	984,946		4.767		07/25/35		977,392
Lehman XS Trust Series 2007-4N, Class 3A2A
	1,000,000		5.733		03/25/37		1,000,000
Luminent Mortgage Trust Series 2006-2, Class A1A
	769,183		5.520		02/25/46		768,551
Merrill Lynch Mortgage Investors, Inc. Series 2005-A9, Class 2A1C
	1,000,000		5.152		12/25/35		996,174
Washington Mutual Alternative Mortgage-Pass Through Certificates Series 2006-AR7, Class A1A
	836,142		5.903		09/25/46		837,579
Washington Mutual, Inc. Series 2005-AR10, Class 1A3
	1,000,000		4.836		09/25/35		999,278
Washington Mutual, Inc. Series 2006-AR13, Class 1A
	904,283		5.863		10/25/46		905,837
Washington Mutual, Inc. Series 2006-AR11, Class 3A1A
	944,882		5.903		09/25/46		946,506
Wells Fargo Mortgage Backed Securities Trust Series 2006-AR10, Class 5A3
	843,164		5.601		07/25/36		841,917
							12,824,577

Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
CMBS — 3.4%
Sequential Fixed Rate — 3.4%
Banc of America Commercial Mortgage, Inc. Series 2006-4, Class A4
$	1,000,000		5.634	%	07/10/46	$	1,018,480
Banc of America Commercial Mortgage, Inc. Series 2006-5, Class A4
	1,000,000		5.414		09/10/47		1,002,806
Commercial Mortgage-Pass Through Certificates Series 2006-C8, Class A4
	1,000,000		5.306		12/10/46		993,101
TOTAL CMBS							3,014,387
CMO — 13.5%
Interest Only(a)(b) — 0.0%
FNMA Series 2004-47, Class EI
	412,225		0.000		06/25/34		17,046
FNMA Series 2004-62, Class DI
	175,761		0.000		07/25/33		8,837
							25,883
PAC — 13.5%
FNMA Series 2003-32, Class PD
	3,754,777		4.000		07/25/22		3,730,558
FNMA Series 2003-70, Class BS
	3,621,806		4.000		04/25/22		3,581,742
FNMA Series 2719, Class GC
	4,580,000		5.000		06/15/26		4,543,833
							11,856,133
TOTAL CMO							11,882,016
FHLMC — 7.2%
	1,830,106		4.500		12/01/18		1,775,993
	1,816,923		4.000		06/01/19		1,717,554
	1,549,743		4.500		06/01/19		1,503,920
	1,076		8.000		06/01/19		1,076
	13,094		10.000		03/01/21		14,337
	26,006		6.500		06/01/23		26,930
	1,293,246		6.500		10/01/34		1,332,534
							6,372,344
FNMA — 14.6%
	575		8.000		04/01/09		579
	88,948		5.000		11/01/17		87,966
	396,406		5.000		12/01/17		392,033
	342,304		5.000		01/01/18		338,528
	988,667		5.000		02/01/18		977,150
	291,694		5.000		03/01/18		288,297
	43,630		4.500		04/01/18		42,339
	454,418		5.000		04/01/18		449,125
	369,800		4.500		05/01/18		358,858
	172,809		5.000		05/01/18		170,796
	499,187		4.500		06/01/18		484,414
	914,330		5.000		06/01/18		903,678
	26,530		4.500		07/01/18		25,744
	26,982		5.000		07/01/18		26,668
	1,811,355		4.000		09/01/18		1,713,332
	834,859		4.500		09/01/18		810,155
	26,213		4.500		10/01/18		25,437
	1,060,336		4.500		11/01/18		1,028,959
	563,098		5.000		11/01/18		556,538

GOLDMAN SACHS VARIABLE INSURANCE TRUST GOVERNMENT INCOME FUND

Schedule of Investments (continued)

March 31, 2007 (Unaudited)

Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
FNMA — (continued)
$	128,161		4.500	%	12/01/18	$	124,369
	821,675		5.000		12/01/18		812,103
	26,571		4.500		01/01/19		25,785
	37,181		4.500		03/01/19		36,081
	931,143		5.000		04/01/19		920,296
	857,205		5.000		06/01/19		847,219
	310,539		4.500		09/01/19		301,350
	88,776		4.500		03/01/20		86,149
	231,448		4.500		04/01/20		224,599
	25,590		8.000		09/01/21		27,011
	100,504		7.500		05/01/36		104,115
	484,752		7.500		06/01/36		502,168
	186,391		7.500		07/01/36		193,088
							12,884,929
GNMA — 0.0%
	2,586		6.500		06/15/09		2,616
	18,649		7.000		06/15/12		19,274
							21,890
TOTAL MORTGAGE-BACKED OBLIGATIONS						$	52,322,386
Agency Debentures — 27.2%
FHLB
$	7,000,000		3.500	%	04/06/09	$	6,815,536
	4,500,000		4.000		12/19/11		4,307,878
	9,500,000		4.000		12/30/11		9,136,853
FNMA
	3,000,000		3.860		02/22/08		2,968,002
Tennessee Valley Authority
	700,000		5.375		04/01/56		704,274
TOTAL AGENCY DEBENTURES						$	23,932,543
U.S. Treasury Obligations — 4.8%
United States Treasury Inflation-Protected Securities
$	220,398		1.875	%	07/15/13	$	217,696
	429,492		2.000		07/15/14		425,601
	416,216		1.875		07/15/15		407,151
	100,373		2.375		01/15/27		101,200
United States Treasury Notes
	100,000		4.500		09/30/11		99,850
	200,000		5.125		05/15/16		206,890
	2,100,000		4.875		08/15/16		2,134,293
United States Treasury Principal-Only STRIPS(c)
	200,000		0.000		08/15/25		80,638
	300,000		0.000		08/15/26		115,218
	1,100,000		0.000		11/15/26		417,428
TOTAL U.S. TREASURY OBLIGATIONS						$	4,205,965
Short-Term Obligation — 8.3%
JPMorgan Chase Nassau - Time Deposit
$	7,286,491		5.262	%	04/02/07	$	7,286,491
TOTAL INVESTMENTS — 99.7%						$	87,747,385
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.3%							224,921
NET ASSETS — 100.0%						$	87,972,306

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.

(a) Variable rate security. Interest rate disclosed is that which is in effect at March 31, 2007.

(b) Represents security with notional principal amount. The actual effective yield of this security is different than the stated interest rate.

(c) Security issued with a zero coupon. Income is recognized through the accretion of discount.

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.goldmansachsfunds.com.

Investment Abbreviations:
CMBS	— Commercial Mortgage Backed Securities
CMO	— Collateralized Mortgage Obligations
FHLB	— Federal Home Loan Bank
FHLMC	— Federal Home Loan Mortgage Corp.
FNMA	— Federal National Mortgage Association
GNMA	— Government National Mortgage Association
PAC	— Planned Amortization Class
STRIPS	— Separate Trading of Registered Interest and Principal of Securities

GOLDMAN SACHS VARIABLE INSURANCE TRUST GOVERNMENT INCOME FUND

Schedule of Investments (continued)

March 31, 2007 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FUTURES CONTRACTS — At March 31, 2007, the following futures contracts were open:

	Number of
	Contracts	Settlement				Unrealized
Type	Long (Short)	Month	Market Value			Gain (Loss)
Eurodollars	36	June 2007	$	8,526,150		$	(2,372	)
Eurodollars	10	September 2007		2,373,125			(1,721	)
Eurodollars	(82)	December 2007		(19,500,625	)		6,579
Eurodollars	(2)	March 2008		(476,375	)		(207	)
Eurodollars	(4)	June 2008		(953,450	)		(1,264	)
U.S. Treasury Bonds	11	June 2007		1,223,750			(15,309	)
2 Year U.S. Treasury Notes	(29)	June 2007		(5,941,828	)		5,619
5 Year U.S. Treasury Notes	170	June 2007		17,985,469			(42,222	)
10 Year U.S. Treasury Notes	25	June 2007		2,703,125			(15,279	)
TOTAL			$	5,939,341		$	(66,176	)

TAX INFORMATION — At March 31, 2007, the Fund’s aggregate security unrealized gains and losses based on cost for U.S. federal income tax purposes were as follows:

Tax Cost	$	87,828,910
Gross unrealized gain		495,557
Gross unrealized loss		(577,082	)
Net unrealized security loss	$	(81,525	)

Additional information regarding the Fund is available in the Fund’s most recent Annual and Semiannual Reports to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).

GOLDMAN SACHS VARIABLE INSURANCE TRUST MONEY MARKET FUND

Schedule of Investments

March 31, 2007 (Unaudited)

Principal		Interest			Maturity	Amortized
Amount		Rate			Date	Cost
Commercial Paper and Corporate Obligations — 46.1%
Amstel Funding Corp.
$	4,000,000		5.250	%	06/29/07	$	3,948,083
Austra Corp.
	5,000,000		5.290		04/23/07		4,983,836
BA Credit Card Trust
	4,000,000		5.260		04/18/07		3,990,064
	5,000,000		5.240		06/06/07		4,951,967
Bavaria Trust Corp.
	4,000,000		5.300		04/25/07		3,985,867
Bear Stearns & Cos., Inc.
	5,000,000		5.420		04/02/07		4,999,247
Citibank Credit Card Issuance Trust (Dakota Corp.)
	5,000,000		5.260		04/17/07		4,988,311
	3,000,000		5.250		05/24/07		2,976,813
Curzon Funding LLC
	4,000,000		5.240		06/20/07		3,953,422
Davis Square Funding VI (Delaware) Corp.
	5,000,000		5.270		04/11/07		4,992,681
Dorada Finance, Inc.
	5,000,000		5.240		06/13/07		4,946,872
G Street Finance (Delaware) Corp.
	5,000,000		5.270		04/20/07		4,986,093
General Electric Capital Corp.
	4,000,000		5.150		10/15/07		3,887,272
George Street Finance LLC
	4,000,000		5.300		04/19/07		3,989,400
Ivory Funding Corp.
	5,000,000		5.240		04/05/07		4,997,089
KLIO III Funding Corp.
	5,117,000		5.230		06/06/07		5,067,937
Monument Gardens Funding
	5,000,000		5.250		06/04/07		4,953,333
Nieuw Amsterdam Receivables Corp.
	2,910,000		5.250		04/26/07		2,899,391
North Sea Funding LLC
	4,000,000		5.250		06/28/07		3,948,667
Simba Funding Corp.
	4,368,000		5.245		05/29/07		4,331,089
Tulip Funding Corp.
	4,000,000		5.320		04/26/07		3,985,222
United Parcel Service of America, Inc.
	2,000,000		5.210		07/31/07		1,964,977
Victory Receivables Corp.
	4,000,000		5.300		04/26/07		3,985,278
Westpac Banking Corp.
	5,000,000		5.210		05/07/07		4,973,950
TOTAL COMMERCIAL PAPER AND CORPORATE OBLIGATIONS						$	102,686,861
Eurodollar Certificates of Deposit — 0.4%
Societe Generale
$	1,000,000		5.300	%	01/03/08	$	1,000,000

Principal		Interest			Maturity	Amortized
Amount		Rate			Date	Cost
Master Demand Note — 1.8%
Merrill Lynch Mortgage Capital, Inc.
$	4,000,000		5.558	%	04/02/07	$	4,000,000
Medium Term Notes — 2.7%
UBS AG Stamford
$	1,000,000		5.400	%	11/28/07	$	1,000,000
Wal-Mart Stores, Inc.(a)
	5,000,000		5.502		07/16/07		5,000,935
TOTAL MEDIUM TERM NOTES						$	6,000,935
Variable Rate Obligations(b) — 36.0%
Barclays Bank PLC
$	4,000,000		5.281	%	04/16/07	$	3,999,384
Caja Madrid
	5,000,000		5.360		04/19/07		5,000,000
Credit Suisse First Boston, Inc.
	5,000,000		5.330		05/18/07		5,000,000
Crown Point Capital Co. LLC
	5,000,000		5.290		06/08/07		4,999,581
HBOS Treasury Services PLC
	5,000,000		5.289		04/10/07		5,000,000
IBM Corp.(a)
	10,000,000		5.330		04/09/07		10,000,000
Lehman Brothers Holdings, Inc.
	5,000,000		5.330		05/29/07		5,000,000
Merrill Lynch & Co., Inc.
	2,000,000		5.330		04/16/07		2,000,000
National City Bank of Indiana
	5,000,000		5.340		04/04/07		5,000,000
Nordea Bank AB(a)
	4,000,000		5.330		04/11/07		4,000,000
Royal Bank of Canada(c)
	5,000,000		5.265		05/03/07		4,998,523
Royal Bank of Scotland Group PLC
	5,000,000		5.265		04/26/07		4,998,541
Societe Generale
	5,000,000		5.271		04/30/07		4,999,756
	2,000,000		5.270		04/26/07		1,999,416
Suntrust Bank
	5,000,000		5.290		04/02/07		5,000,021
Unicredito Italiano NY
	4,000,000		5.310		06/11/07		4,000,007
Wells Fargo & Co.
	4,000,000		5.310		04/03/07		4,000,000
TOTAL VARIABLE RATE OBLIGATIONS						$	79,995,229
Yankee Certificates of Deposit — 7.0%
Depfa Bank PLC
$	2,000,000		5.320	%	04/25/07	$	2,000,000
	6,500,000		5.320		05/08/07		6,500,000
Deutsche Bank AG
	1,000,000		5.400		11/21/07		1,000,000

GOLDMAN SACHS VARIABLE INSURANCE TRUST MONEY MARKET FUND

Schedule of Investments (continued)

March 31, 2007 (Unaudited)

Principal		Interest			Maturity	Amortized
Amount		Rate			Date	Cost
Yankee Certificates of Deposit — (continued)
Norinchukin Bank NY
$	6,000,000		5.370	%	04/11/07	$	6,000,000
TOTAL YANKEE CERTIFICATES OF DEPOSIT						$	15,500,000
TOTAL INVESTMENTS BEFORE REPURCHASE AGREEMENT — 94.0%						$	209,183,025

Repurchase Agreement(d) — 7.9%
Joint Repurchase Agreement Account II
$	17,500,000	5.405	%	04/02/07	$	17,500,000
Maturity Value: $17,507,882
TOTAL INVESTMENTS — 101.9%					$	226,683,025
LIABILITIES IN EXCESS OF OTHER ASSETS — (1.9)%						(4,167,139	)
NET ASSETS — 100.0%					$	222,515,886

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.

(a) Securities are exempt from registration under Rule 144A of the Securities Act of 1933. Under procedures approved by the Board of Trustees, such securities have been determined to be liquid by the Investment Adviser and may be resold, normally to qualified institutional buyers in transactions exempt from registration. Total market value of Rule 144A securities amounts to $ 19,000,935, which represents approximately 8.5% of net assets as of March 30, 2007.

(b) Variable or floating rate security index is based on either Federal Funds, U.S. Treasury Bill, or London Interbank Offering Rate.

(c) All or a portion represents a forward commitment.

(d) Joint repurchase agreement was entered into on March 30, 2007. Additional information appears in the Notes to the Schedule of Investments section.

Maturity dates represent either the stated date on the security or the next interest reset date for floating rate securities.

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

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRUCTURED U.S. EQUITY FUND

Schedule of Investments

March 31, 2007 (Unaudited)

Shares		Description	Value
Common Stocks — 99.9%
Aerospace & Defense — 4.0%
	122,739	Boeing Co. (The)	$	10,912,725
	100	Honeywell International, Inc.		4,606
	64,600	Lockheed Martin Corp.		6,267,492
	256,700	Northrop Grumman Corp.		19,052,274
	187,200	Raytheon Co.		9,820,512
				46,057,609
Beverages — 2.7%
	559,800	Coca-Cola Co. (The)		26,870,400
	38,100	Molson Coors Brewing Co. Class B		3,605,022
				30,475,422
Biotechnology — 2.4%
	156,490	Amgen, Inc.*		8,744,661
	116,500	Celgene Corp.*		6,111,590
	133,400	Gilead Sciences, Inc.*		10,205,100
	229,400	Millennium Pharmaceuticals, Inc.*		2,605,984
				27,667,335
Capital Markets — 4.0%
	24,300	Ameriprise Financial, Inc.		1,388,502
	41,900	BlackRock, Inc.		6,549,389
	278,300	Merrill Lynch & Co., Inc.		22,728,761
	153,500	Morgan Stanley		12,089,660
	50,800	SEI Investments Co.		3,059,684
				45,815,996
Chemicals — 1.4%
	295,600	Monsanto Co.		16,246,176
Commercial Banks — 2.6%
	163,100	Regions Financial Corp.		5,768,847
	160,500	U.S. Bancorp		5,612,685
	195,900	Wachovia Corp.		10,784,295
	227,800	Wells Fargo & Co.		7,843,154
				30,008,981
Commercial Services & Supplies — 0.7%
	110,700	Manpower, Inc.		8,166,339
Communications Equipment — 2.8%
	1,230,640	Cisco Systems, Inc.*		31,418,239
	28,000	Polycom, Inc.*		933,240
				32,351,479
Computers & Peripherals — 3.4%
	629,200	Hewlett-Packard Co.		25,256,088
	221,400	Lexmark International, Inc. Class A*		12,943,044
				38,199,132
Consumer Finance — 0.3%
	166,900	AmeriCredit Corp.*(a)		3,815,334
Diversified Consumer Services — 0.1%
	12,000	ITT Educational Services, Inc.*		977,880
Diversified Financial Services — 7.0%
	538,022	Bank of America Corp.		27,449,882
	207,514	Citigroup, Inc.		10,653,769
	682,200	JPMorgan Chase & Co.		33,004,836
	134,000	Moody’s Corp.		8,316,040
				79,424,527

Shares		Description	Value
Common Stocks — (continued)
Diversified Telecommunication Services — 3.6%
	742,442	AT&T, Inc.		29,274,488
	166,500	CenturyTel, Inc.		7,524,135
	95,100	Verizon Communications, Inc.		3,606,192
				40,404,815
Electric Utilities — 0.3%
	14,900	Entergy Corp.		1,563,308
	83,000	Reliant Energy, Inc.*		1,686,560
				3,249,868
Energy Equipment & Services — 0.6%
	94,200	GlobalSantaFe Corp.		5,810,256
	13,000	SEACOR Holdings, Inc.*		1,279,200
				7,089,456
Food & Staples Retailing — 1.9%
	61,122	CVS/Caremark Corp.		2,086,705
	548,300	Safeway, Inc.		20,089,712
				22,176,417
Food Products — 1.0%
	39,100	Kraft Foods, Inc. Class A(a)		1,237,906
	505,900	Tyson Foods, Inc. Class A		9,819,519
				11,057,425
Health Care Equipment & Supplies — 0.3%
	44,800	Zimmer Holdings, Inc.*		3,826,368
Health Care Providers & Services — 2.8%
	357,894	AmerisourceBergen Corp.		18,878,909
	20,600	Apria Healthcare Group, Inc.*		664,350
	134,769	Humana, Inc.*		7,819,297
	26,100	Medco Health Solutions, Inc.*		1,893,033
	30,500	WellCare Health Plans, Inc.*		2,600,125
				31,855,714
Health Care Technology — 0.1%
	59,500	Emdeon Corp.*		900,235
Hotels, Restaurants & Leisure — 2.9%
	402,300	Marriott International, Inc. Class A		19,696,608
	190,600	McDonald’s Corp.		8,586,530
	73,200	Yum! Brands, Inc.		4,228,032
				32,511,170
Household Products — 1.0%
	73,400	Colgate-Palmolive Co.		4,902,386
	72,000	Energizer Holdings, Inc.*		6,143,760
	7,265	Procter & Gamble Co.		458,857
				11,505,003
Independent Power Producers & Energy Traders — 0.7%
	6,101	Dynegy, Inc. Class A*		56,495
	119,870	TXU Corp.		7,683,667
				7,740,162
Industrial Conglomerates — 2.7%
	758,888	General Electric Co.		26,834,280
	124,800	Tyco International Ltd.		3,937,440
				30,771,720
Insurance — 5.0%
	68,030	AMBAC Financial Group, Inc.		5,877,112
	369,600	Genworth Financial, Inc.		12,913,824
	446,600	Loews Corp.		20,289,038
	268,863	MBIA, Inc.(a)		17,607,838
				56,687,812
Internet & Catalog Retail — 0.1%
	19,900	IAC/InterActiveCorp.*		750,429

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRUCTURED U.S. EQUITY FUND

Schedule of Investments (continued)

March 31, 2007 (Unaudited)

Shares		Description	Value
Common Stocks — (continued)
IT Services — 2.8%
	344,400	Accenture Ltd. Class A		13,273,176
	361,200	Computer Sciences Corp.*		18,829,356
				32,102,532
Leisure Equipment & Products — 0.1%
	27,000	Hasbro, Inc.		772,740
Life Sciences Tools & Services — 0.6%
	185,500	Applera Corporation-Applied Biosystems Group		5,485,235
	13,300	Varian, Inc.*		774,858
				6,260,093
Machinery — 2.4%
	24,700	AGCO Corp.*		913,159
	181,500	Deere & Co.		19,718,160
	89,100	PACCAR, Inc.		6,539,940
	500	SPX Corp.		35,100
	9,100	Terex Corp.*		653,016
				27,859,375
Media — 6.3%
	545,330	CBS Corp. Class B		16,681,645
	288,450	Comcast Corp. Class A*		7,485,277
	332,379	DIRECTV Group, Inc. (The)*		7,667,984
	12,640	McGraw-Hill Companies, Inc. (The)		794,803
	111,600	News Corp. Class B		2,730,852
	1,271,529	Time Warner, Inc.		25,074,552
	323,486	Walt Disney Co. (The)		11,137,623
				71,572,736
Metals & Mining — 0.6%
	13,700	Newmont Mining Corp.		575,263
	96,700	Nucor Corp.		6,298,071
				6,873,334
Multi-Utilities — 1.7%
	406,500	PG&E Corp.		19,621,755
Multiline Retail — 0.4%
	154,400	Dillard’s, Inc. Class A		5,053,512
Oil, Gas & Consumable Fuels — 10.0%
	2,400	Chevron Corp.		177,504
	308,700	Devon Energy Corp.		21,368,214
	771,266	Exxon Mobil Corp.		58,192,020
	53,200	Holly Corp.		3,154,760
	221,000	Marathon Oil Corp.		21,841,430
	900	Overseas Shipholding Group, Inc.		56,340
	16,400	Tesoro Corp.		1,647,052
	111,700	Valero Energy Corp.		7,203,533
				113,640,853
Personal Products — 0.1%
	11,500	Estee Lauder Companies, Inc. Class A (The)		561,775
Pharmaceuticals — 6.8%
	96,100	Forest Laboratories, Inc.*		4,943,384
	192,982	Johnson & Johnson		11,629,095
	605,600	Merck & Co., Inc.		26,749,352
	1,354,615	Pfizer, Inc.		34,217,575
				77,539,406
Real Estate Investment Trusts — 1.0%
	12,700	Boston Properties, Inc.		1,490,980
	78,400	Health Care Property Investors, Inc.		2,824,752
	64,300	HRPT Properties Trust		790,890
	69,200	iStar Financial, Inc.		3,240,636
	11,300	ProLogis		733,709
	10,700	Simon Property Group, Inc.		1,190,375
	8,400	SL Green Realty Corp.		1,152,312
				11,423,654

Shares		Description	Value
Common Stocks — (continued)
Road & Rail — 0.3%
	29,700	Avis Budget Group, Inc.*		811,404
	60,700	J.B. Hunt Transport Services, Inc.		1,592,768
	27,200	Ryder System, Inc.		1,342,048
				3,746,220
Semiconductors & Semiconductor Equipment — 2.6%
	227,400	Atmel Corp.*		1,143,822
	1,326,500	Micron Technology, Inc.*		16,024,120
	11,300	Novellus Systems, Inc.*		361,826
	392,352	Texas Instruments, Inc.		11,809,795
				29,339,563
Software — 4.4%
	600	Mentor Graphics Corp.*		9,804
	1,239,240	Microsoft Corp.		34,537,619
	433,500	Symantec Corp.*		7,499,550
	322,111	Synopsys, Inc.*		8,448,971
				50,495,944
Specialty Retail — 1.8%
	78,900	American Eagle Outfitters, Inc.		2,366,211
	539,794	AutoNation, Inc.*		11,465,225
	178,088	Office Depot, Inc.*		6,258,012
	6,700	OfficeMax, Inc.		353,358
	16,200	Payless ShoeSource, Inc.*		537,840
				20,980,646
Textiles, Apparel & Luxury Goods — 0.1%
	34,302	Jones Apparel Group, Inc.		1,054,100
Thrifts & Mortgage Finance — 0.8%
	129,700	Countrywide Financial Corp.		4,363,108
	303,386	Hudson City Bancorp, Inc.		4,150,320
	1,900	PMI Group, Inc. (The)		85,918
				8,599,346
Tobacco — 1.8%
	13,600	Loews Corp.-Carolina Group		1,028,296
	330,767	UST, Inc.		19,177,871
				20,206,167
Trading Companies & Distributors — 0.1%
	9,900	W.W. Grainger, Inc.		764,676
Wireless Telecommunication Services — 0.8%
	33,300	ALLTEL Corp.		2,064,600
	251,901	Sprint Nextel Corp.		4,776,043
	23,980	Telephone & Data Systems, Inc.		1,429,688
	8,400	United States Cellular Corp.*		616,980
				8,887,311
TOTAL COMMON STOCKS			$	1,137,088,542

Securities Lending Collateral — 0.6%
	6,392,475	Boston Global Investment Trust — Enhanced Portfolio	$	6,392,475
TOTAL INVESTMENTS — 100.5%			$	1,143,481,017
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.5)%				(4,939,122	)
NET ASSETS — 100.0%			$	1,138,541,895

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.

^* Non-income producing security.

(a) All or portion of security is on loan.

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.goldmansachsfunds.com.

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRUCTURED U.S. EQUITY FUND

Schedule of Investments (continued)

March 31, 2007 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FUTURES CONTRACTS — At March 31, 2007, the following futures contracts were open:

	Number of		Settlement	Market		Unrealized
Type	Contracts Long		Month	Value		Gain
S&P 500 Index		6	June 2007	$	429,360	$	7,198

TAX INFORMATION — At March 31, 2007, the Fund’s aggregate security unrealized gains and losses based on cost for U.S. federal income tax purposes were as follows:

Tax Cost	$	1,016,570,956
Gross unrealized gain		146,221,339
Gross unrealized loss		(19,311,278	)
Net unrealized security gain	$	126,910,061

Additional information regarding the Fund is available in the Fund’s most recent Annual and Semiannual Reports to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRUCTURED SMALL CAP EQUITY FUND

Schedule of Investments

March 31, 2007 (Unaudited)

Shares		Description	Value
Common Stocks — 99.7%
Aerospace & Defense — 0.3%
	10,000	Triumph Group, Inc.	$	553,400
Airlines — 0.3%
	87,800	ExpressJet Holdings, Inc.*		512,752
Auto Components — 0.8%
	100	ArvinMeritor, Inc.		1,825
	100	Cooper Tire & Rubber Co.		1,829
	5,700	Lear Corp.*		208,107
	152,000	Visteon Corp.*		1,298,080
				1,509,841
Beverages — 0.2%
	100	Boston Beer Co., Inc. Class A*		3,335
	15,465	MGP Ingredients, Inc.(a)		315,022
				318,357
Biotechnology — 3.1%
	60,500	Applera Corp.- Celera Group*		859,100
	100	Array BioPharma, Inc.*		1,270
	2,500	Maxygen, Inc.*		27,875
	241,200	Millennium Pharmaceuticals, Inc.*		2,740,032
	16,600	Pharmion Corp.*		436,414
	100	Rigel Pharmaceuticals, Inc.*		1,086
	164,714	Savient Pharmaceuticals, Inc.*		1,979,862
				6,045,639
Building Products — 0.0%
	1,800	American Woodmark Corp.		66,168
Capital Markets — 0.5%
	400	Capital Southwest Corp.		61,468
	1,200	Piper Jaffray Companies*		74,328
	14,200	SEI Investments Co.		855,266
	100	SWS Group, Inc.		2,481
				993,543
Chemicals — 2.2%
	100	A. Schulman, Inc.		2,356
	32,098	CF Industries Holdings, Inc.		1,237,378
	6,500	Innospec, Inc.		374,660
	27,594	NewMarket Corp.		1,122,248
	2,700	OM Group, Inc.*		120,636
	82,883	Terra Industries, Inc.* (a)		1,450,452
	100	Tronox, Inc. Class B		1,398
				4,309,128
Commercial Banks — 5.2%
	100	1st Source Corp.		2,617
	100	Ameris Bancorp		2,448
	1,067	BancTrust Financial Group, Inc.		22,578
	100	Bank of Granite Corp.		1,792
	100	Banner Corp.		4,155
	15,840	Cascade Bancorp		410,890
	33,700	Central Pacific Financial Corp.		1,232,409
	44,700	Chittenden Corp.		1,349,493
	1,500	Columbia Bancorp		36,015
	2,210	Community Trust Bancorp, Inc.		80,068
	6,400	First Citizens BancShares, Inc. Class A		1,286,400

Shares		Description	Value
Common Stocks — (continued)
Commercial Banks — (continued)
	18,293	First Regional Bancorp *		543,302
	606	First South Bancorp, Inc.(a)		18,598
	100	FNB Corp.		3,583
	13,100	Frontier Financial Corp.		326,845
	28,131	Greater Bay Bancorp		756,443
	100	Hancock Holding Co.		4,398
	64,961	Hanmi Financial Corp.		1,238,157
	100	Heritage Commerce Corp.		2,549
	9,151	Intervest Bancshares Corp.*		262,634
	8,600	MetroCorp Bancshares, Inc.		182,320
	17,400	Mid-State Bancshares		638,406
	100	Nara Bancorp, Inc.		1,751
	1,000	Placer Sierra Bancshares		27,060
	28,307	Preferred Bank		1,109,917
	100	Renasant Corp.		2,468
	6,710	Shore Bancshares, Inc.(a)		177,479
	100	Southwest Bancorp, Inc.		2,569
	100	Sterling Financial Corp.		3,119
	100	Susquehanna Bancshares, Inc.		2,319
	100	TriCo Bancshares		2,367
	15,300	Umpqua Holdings Corp.		409,581
	2,500	Vineyard National Bancorp Co.		57,600
	100	Virginia Financial Group, Inc.		2,593
				10,204,923
Commercial Services & Supplies — 6.4%
	63,000	ABM Industries, Inc.		1,662,570
	25,398	Amrep Corp.(a)		1,961,995
	13,200	Bowne & Co., Inc.		207,636
	1,500	Central Parking Corp.		33,270
	25,000	Comfort Systems USA, Inc.		299,500
	100	Cornell Companies, Inc.*		2,022
	21,400	First Consulting Group, Inc.*		194,740
	100	Heidrick & Struggles International, Inc.*		4,845
	140,486	IKON Office Solutions, Inc.		2,018,784
	100	Interface, Inc. Class A		1,599
	64,000	PHH Corp.*		1,955,840
	68,291	Spherion Corp.*		602,327
	6,200	Standard Parking Corp.*		219,294
	31,000	TeleTech Holdings, Inc.*		1,137,390
	100	Viad Corp.		3,860
	78,911	Volt Information Sciences, Inc.*(a)		2,066,679
	4,739	Waste Industries USA, Inc.		130,180
				12,502,531
Communications Equipment — 4.6%
	14,200	C-COR, Inc.*		196,812
	77,381	Carrier Access Corp.*		395,417
	100	Ditech Networks, Inc.*		812
	86,563	InterDigital Communications Corp.*		2,741,450
	100	Loral Space & Communications, Inc.*		5,088
	73,600	Polycom, Inc.*		2,453,088
	21,700	SafeNet, Inc.*		614,110
	319,600	UTStarcom, Inc.*(a)		2,649,484
				9,056,261
Computers & Peripherals — 0.5%
	105,682	Brocade Communications Systems, Inc.*		1,006,093
Construction & Engineering — 1.4%
	48,200	EMCOR Group, Inc.*		2,842,836
	100	Infrasource Services, Inc.*		3,053
				2,845,889

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRUCTURED SMALL CAP EQUITY FUND

Schedule of Investments (continued)

March 31, 2007 (Unaudited)

Shares		Description	Value
Common Stock — (continued)
Consumer Finance — 1.9%
	72,400	Advance America Cash Advance Centers, Inc.		1,114,236
	100	Advanta Corp. Class B		4,384
	9,300	AmeriCredit Corp.*		212,598
	5,400	Cash America International, Inc.		221,400
	4,422	Credit Acceptance Corp.*		120,234
	49,431	EZCORP, Inc. Class A*		728,119
	100	First Marblehead Corp. (The)		4,489
	100	Rewards Network, Inc.*		530
	34,055	World Acceptance Corp.*		1,360,497
				3,766,487
Containers & Packaging — 1.3%
	1,000	AEP Industries, Inc.*		43,000
	100	Chesapeake Corp.		1,510
	9,100	Greif, Inc. Class A		1,011,101
	48,000	Rock-Tenn Co. Class A		1,593,600
				2,649,211
Diversified Consumer Services — 1.5%
	40,484	CPI Corp.		2,125,815
	16,515	Pre-Paid Legal Services, Inc.*(a)		827,567
				2,953,382
Diversified Telecommunication Services — 0.6%
	100	Atlantic Tele-Network, Inc.		2,613
	100	Consolidated Communications Holdings, Inc.		1,989
	36,809	CT Communications, Inc.		887,097
	4,800	Golden Telecom, Inc.		265,824
	6,700	IDT Corp. Class B		76,045
				1,233,568
Electric Utilities — 0.6%
	3,406	Central Vermont Public Service Corp.		98,161
	100	Northeast Utilities		3,277
	37,500	Reliant Energy, Inc.*		762,000
	6,100	UIL Holdings Corp.		211,670
	2,500	Westar Energy, Inc.		68,800
				1,143,908
Electrical Equipment — 2.5%
	57,500	Belden CDT, Inc.		3,081,425
	1,400	EnerSys*		24,052
	1,000	General Cable Corp.*		53,430
	100	Powell Industries, Inc.*		3,200
	45,200	Superior Essex, Inc.*		1,567,084
	5,576	Woodward Governor Co.		229,564
				4,958,755
Electronic Equipment & Instruments — 0.9%
	11,724	Agilysis, Inc.		263,439
	400	Avnet, Inc.*		14,456
	9,800	Coherent, Inc.*		311,052
	10,582	Gerber Scientific, Inc.*		112,275
	20,000	Ingram Micro, Inc. Class A*		386,200
	342	Insight Enterprises, Inc.*		6,149
	5,300	Mettler-Toledo International, Inc.*		474,721
	100	SYNNEX Corp.*		2,124
	8,010	Tech Data Corp.*		286,838
				1,857,254
Energy Equipment & Services — 1.0%
	13,600	Gulfmark Offshore, Inc.*		593,640
	3,400	Input/Output, Inc.*		46,852
	100	Matrix Service Co.*		2,023
	4,400	SEACOR Holdings, Inc.*		432,960
	19,600	Trico Marine Services, Inc.*		730,296
	2,800	Universal Compression Holdings, Inc.*		189,504
				1,995,275

Shares		Description	Value
Common Stocks — (continued)
Food & Staples Retailing — 0.9%
	18,073	Ingles Markets, Inc. Class A		738,101
	2,332	Longs Drug Stores Corp.		120,424
	17,400	Performance Food Group Co.*		537,138
	100	Ruddick Corp.		3,008
	14,277	Spartan Stores, Inc.		382,624
				1,781,295
Food Products — 0.6%
	27,600	Imperial Sugar Co.(a)		925,428
	100	Pilgrim’s Pride Corp.		3,319
	2,200	Ralcorp Holdings, Inc.*		141,460
	14	Seaboard Corp.		31,640
				1,101,847
Gas Utilities — 0.5%
	21,400	ONEOK, Inc.		963,000
Health Care Equipment & Supplies — 3.5%
	21,800	CONMED Corp.*		637,214
	103,800	Immucor, Inc.*		3,054,834
	3,100	Kinetic Concepts, Inc.*		156,984
	10,300	Palomar Medical Technologies, Inc.*		411,485
	27,100	West Pharmaceutical Services, Inc.		1,258,253
	52,078	Zoll Medical Corp.*		1,387,879
				6,906,649
Health Care Providers & Services — 4.2%
	75,500	AMERIGROUP Corp.*		2,295,200
	41,500	Apria Healthcare Group, Inc.*		1,338,375
	39,721	CorVel Corp.*		1,201,560
	8,400	Cross Country Healthcare, Inc.*		153,132
	82	Genesis HealthCare Corp.*		5,175
	31,500	Kindred Healthcare, Inc.*		1,032,570
	10,500	Medcath Corp.*		286,650
	63,866	Molina Healthcare, Inc.*		1,953,661
				8,266,323
Health Care Technology — 0.2%
	23,800	Emdeon Corp.*		360,094
Hotels, Restaurants & Leisure — 2.3%
	100	Ambassadors Group, Inc.		3,324
	100	Bally Technologies, Inc.*		2,358
	10,417	Bob Evans Farms, Inc.		384,908
	1,100	Buffalo Wild Wings, Inc.*		70,070
	4,900	CEC Entertainment, Inc.*		203,546
	44,800	Jack in the Box, Inc.*		3,097,024
	20,300	Landry’s Restaurants, Inc.		600,880
	161	Marcus Corp. (The)		3,745
	9,600	O’Charley’s, Inc.*		185,184
	110	Papa John’s International, Inc.*		3,234
				4,554,273
Household Durables — 3.0%
	108,000	American Greetings Corp. Class A		2,506,680
	45,500	Kimball International, Inc. Class B		877,240
	93,000	Tempur-Pedic International, Inc.		2,417,070
				5,800,990
Household Products — 0.0%
	100	Energizer Holdings, Inc.*		8,533
Industrial Conglomerates — 0.3%
	27,900	Tredegar Corp.		635,841

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRUCTURED SMALL CAP EQUITY FUND

Schedule of Investments (continued)

March 31, 2007 (Unaudited)

Shares		Description	Value
Common Stock — (continued)
Insurance — 2.5%
	11,250	American Physicians Capital, Inc.*		450,900
	100	Direct General Corp.		2,126
	21,400	LandAmerica Financial Group, Inc.		1,581,674
	125,900	Meadowbrook Insurance Group, Inc.*		1,383,641
	1,300	National Western Life Insurance Co. Class A		318,240
	100	NYMAGIC, Inc.		4,085
	3,600	Odyssey RE Holdings Corp.		141,516
	3,700	Reinsurance Group of America, Inc.		213,564
	36,000	Seabright Insurance Holdings, Inc.*		662,400
	3,060	Stewart Information Services Corp.		127,877
				4,886,023
Internet & Catalog Retail — 0.0%
	4,300	Systemax, Inc.		80,539
Internet Software & Services — 3.4%
	100	Chordiant Software, Inc.*		1,035
	36,600	InfoSpace, Inc.*		939,522
	29,300	Internap Network Services Corp.*		461,475
	100,338	Interwoven, Inc.*		1,695,712
	100	Netratings, Inc.*		2,080
	258,311	RealNetworks, Inc.*		2,027,741
	27,200	S1 Corporation*		163,200
	100	Sohu.com, Inc.*		2,143
	58,479	SonicWALL, Inc.*		488,885
	43,500	Vignette Corporation*		807,795
				6,589,588
IT Services — 1.4%
	100	Ciber, Inc.*		787
	100	Convergys Corp.*		2,541
	8,500	Covansys Corp.*		209,780
	14,000	CSG Systems International, Inc.*		350,280
	36,993	Lightbridge, Inc.*		649,967
	114,765	MPS Group, Inc.*		1,623,925
	100	Total System Services, Inc.		3,185
				2,840,465
Life Sciences Tools & Services — 1.4%
	2,700	Pharmanet Development Group, Inc.*		70,200
	35,100	Varian, Inc.*		2,044,926
	12,200	Waters Corp.*		707,600
				2,822,726
Machinery — 3.2%
	74,500	AGCO Corp.*		2,754,265
	100	Ampco-Pittsburgh Corp.		2,889
	100	CIRCOR International, Inc.		3,570
	5,000	EnPro Industries, Inc.*		180,250
	11,400	NACCO Industries, Inc. Class A		1,566,474
	19,000	Robbins & Myers, Inc.		708,510
	16,100	SPX Corp.		1,130,220
				6,346,178
Media — 2.9%
	20,740	Arbitron, Inc.		973,743
	100	Harris Interactive, Inc.*		603
	69,000	Live Nation, Inc.*		1,522,140
	106,300	Marvel Entertainment, Inc.*		2,949,825
	10,100	Scholastic Corp.*		314,110
				5,760,421
Metals & Mining — 0.1%
	3,800	Ryerson, Inc.		150,556

Shares		Description	Value
Common Stock — (continued)
Multi-Utilities — 0.4%
	7,700	Avista Corp.		186,571
	19,191	NorthWestern Corp.		679,937
	100	OGE Energy Corp.		3,880
				870,388
Multiline Retail — 1.4%
	86,800	Big Lots, Inc.*		2,715,104
	1,600	Dillards, Inc. Class A		52,368
				2,767,472
Oil, Gas & Consumable Fuels — 4.0%
	100	Cabot Oil & Gas Corp.		6,732
	45,804	Holly Corp.		2,716,177
	100	Houston Exploration Co.*		5,395
	100	NGP Capital Resources Co.		1,581
	17,535	Overseas Shipholding Group, Inc.		1,097,691
	7,900	Plains Exploration & Production Co.*		356,606
	7,500	Rosetta Resources, Inc.*		154,050
	69,290	Swift Energy Co.*		2,894,244
	4,900	Tesoro Corp.		492,107
	5,700	USEC, Inc.*		92,625
	100	Western Refining, Inc.		3,902
				7,821,110
Paper & Forest Products — 0.0%
	100	Mercer International, Inc.*		1,196
Personal Products — 1.6%
	100	Alberto-Culver Co.		2,288
	60,400	NBTY, Inc.*		3,203,616
				3,205,904
Pharmaceuticals — 0.7%
	6,100	Bradley Pharmaceuticals, Inc.*		117,059
	14,150	Caraco Pharmaceutical Laboratories Ltd.*		172,347
	4,300	Medicines Co. (The)*		107,844
	31,400	Noven Pharmaceuticals, Inc.*		728,480
	14,400	Sciele Pharma, Inc.*		340,992
				1,466,722
Real Estate Investment Trusts — 7.4%
	92,163	American Home Mortgage Investment Corp.(a)		2,487,479
	220,859	Anthracite Capital, Inc.		2,650,308
	100	Arbor Realty Trust, Inc.		3,044
	1,500	CBRE Realty Finance, Inc.		19,845
	5,700	Cousins Properties, Inc.		187,302
	9,600	Crystal River Capital, Inc.		257,664
	18,100	Entertainment Properties Trust		1,090,525
	8,800	Franklin Street Properties Corp.		168,784
	13,759	Gramercy Capital Corp.		422,126
	100	Health Care Property Investors, Inc.		3,603
	44,700	HRPT Properties Trust		549,810
	37,300	iStar Financial, Inc.		1,746,759
	4,300	Kite Realty Group Trust		85,785
	100	LTC Properties, Inc.		2,591
	14,791	Medical Properties Trust, Inc.		217,280
	10,865	National Health Investors, Inc.		340,509
	12,900	NorthStar Realty Finance Corp.		196,209
	100	PS Business Parks, Inc.		7,052
	10,200	RAIT Financial Trust		284,988
	24,300	Redwood Trust, Inc.		1,267,974
	1,800	Saul Centers, Inc.		102,420
	99,900	Senior Housing Properties Trust		2,387,610
	100	Universal Health Realty Income Trust		3,575
				14,483,242

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRUCTURED SMALL CAP EQUITY FUND

Schedule of Investments (continued)

March 31, 2007 (Unaudited)

Shares		Description	Value
Common Stocks — (continued)
Real Estate Management & Development — 0.0%
	100	Jones Lang LaSalle, Inc.		10,428
Road & Rail — 1.3%
	3,574	Dollar Thrifty Automotive Group, Inc.*		182,417
	20,300	P.A.M. Transportation Services, Inc.*		418,586
	50,300	Saia, Inc.*		1,194,625
	43,660	U.S. Xpress Enterprises, Inc. Class A*		753,572
				2,549,200
Semiconductors & Semiconductor Equipment — 3.1%
	35,500	Advanced Energy Industries, Inc.*		746,920
	44,800	AMIS Holdings, Inc.*		490,560
	456,818	Atmel Corp.*		2,297,795
	66,400	Axcelis Technologies, Inc.*		507,296
	50,175	Cirrus Logic, Inc.*		384,340
	34,900	Exar Corp.*		462,076
	8,700	Intevac, Inc.*		229,419
	17,200	Lattice Semiconductor Corp.*		100,620
	29,500	MIPS Technologies, Inc.*		263,435
	100	Novellus Systems, Inc.*		3,202
	63,600	RF Micro Devices, Inc.*		396,228
	24,100	Skyworks Solutions, Inc.*		138,575
				6,020,466
Software — 5.1%
	2,900	Altiris, Inc.*		95,439
	33,700	Ansoft Corp.*		1,066,268
	19,900	Blackbaud, Inc.		485,958
	166,041	Captaris, Inc.*		961,377
	100	Manhattan Associates, Inc.*		2,743
	160,900	Mentor Graphics Corp.*		2,629,106
	23,000	MicroStrategy, Inc. Class A*		2,906,970
	70,600	Synopsys, Inc.*		1,851,838
				9,999,699
Specialty Retail — 4.2%
	100	American Eagle Outfitters, Inc.		2,999
	88,500	Asbury Automotive Group, Inc.		2,500,125
	9,700	AutoNation, Inc.*		206,028
	24,700	Brown Shoe Company, Inc.		1,037,400
	100	Haverty Furniture Companies, Inc.		1,400
	45,800	Jo-Ann Stores, Inc.*		1,248,050
	100	OfficeMax, Inc.		5,274
	49,725	Payless ShoeSource, Inc.*		1,650,870
	7,600	RadioShack Corp.		205,428
	37,700	Sonic Automotive, Inc. Class A		1,074,450
	100	Syms Corp.*		1,865
	15,400	West Marine, Inc.*		280,434
				8,214,323
Textiles, Apparel & Luxury Goods — 1.4%
	60,100	Kellwood Co.		1,762,733
	33,500	Perry Ellis International, Inc.*		1,071,665
				2,834,398
Thrifts & Mortgage Finance — 2.5%
	16,000	Bank Mutual Corp.		181,920
	100	Citizens First Bancorp, Inc.		2,278
	23,300	Downey Financial Corp.(a)		1,503,782
	100	IndyMac Bancorp, Inc.		3,205
	38,648	PFF Bancorp, Inc.		1,172,194
	22,200	PMI Group, Inc. (The)		1,003,884
	65,200	Provident Financial Services, Inc.		1,137,740
				5,005,003

Shares		Description	Value
Common Stocks — (continued)
Tobacco — 0.4%
	43,000	Alliance One International, Inc.*		396,890
	6,200	Universal Corp.		380,370
				777,260
Transportation Infrastructure — 0.0%
	100	Interpool, Inc.		2,442
TOTAL COMMON STOCKS			$	196,366,959

Securities Lending Collateral — 6.4%
	12,624,825	Boston Global Investment Trust — Enhanced Portfolio	$	12,624,825
TOTAL INVESTMENTS — 106.1%			$	208,991,784
LIABILITIES IN EXCESS OF OTHER ASSETS — (6.1)%				(11,938,478	)
NET ASSETS — 100.0%			$	197,053,306

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.

^* Non-income producing security.

(a) All or portion of security is on loan.

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.goldmansachsfunds.com.

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRUCTURED SMALL CAP EQUITY FUND

Schedule of Investments (continued)

March 31, 2007 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FUTURES CONTRACTS — At March 31, 2007, the following futures contracts were open:

	Number of		Settlement	Market		Unrealized
Type	Contracts Long		Month	Value		Gain
Russell 2000 Index		7	June 2007	$	565,600	$	4,669

TAX INFORMATION — At March, 2007, the Fund’s aggregate security unrealized gains and losses based on cost for U.S. federal income tax purposes were as follows:

Tax Cost	$	190,376,428
Gross unrealized gain		24,348,946
Gross unrealized loss		(5,733,590	)
Net unrealized security gain	$	18,615,356

Additional information regarding the Fund is available in the Fund’s most recent Annual and Semiannual Reports to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).

GOLDMAN SACHS VARIABLE INSURANCE TRUST FUNDS

Schedule of Investments

March 31, 2007 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS

Investment Valuation — Investments in equity securities traded on a foreign securities exchange are valued daily at fair value determined by an independent fair value service (if available) under valuation procedures approved by the Board of Trustees consistent with applicable regulatory guidance. The independent service takes into account multiple factors including, but not limited to, movements in the U.S. securities markets, certain depositary receipts, futures contracts and foreign currency exchange rates that have occurred subsequent to the close of foreign securities exchanges.

     Investing in foreign markets may involve special risks and considerations not typically associated with investing in the U.S. These risks include revaluation of currencies, high rates of inflation, repatriation restrictions on income and capital, and adverse political and economic developments. Moreover, securities issued in these markets may be less liquid, subject to government ownership controls, delayed settlements, and their prices may be more volatile than those of comparable securities in the U.S.

     Investments in equity securities and investment companies traded on a U.S. securities exchange or the NASDAQ system or for investments in securities traded on a foreign securities exchange for which an independent fair value service is not available are valued daily at their last sale price or official closing price on the principal exchange or system on which they are traded. If no sale occurs, such securities are valued at the last bid price. Debt securities are valued at prices supplied by independent pricing services, broker/dealer supplied valuations or matrix pricing systems. Unlisted equity securities for which market quotations are available are valued at the last sale price on valuation date, or if no sale occurs, at the last bid price. Investments in investment companies (other than those that are exchange traded) are valued at the net asset value per share on the valuation date. Short-term debt obligations maturing in sixty days or less are valued at amortized cost, which approximates market value. Securities for which quotations are not readily available or are deemed not to reflect market value by the investment adviser are valued at fair value using methods approved by the Trust’s Board of Trustees.

     Investing in foreign markets may involve special risks and considerations not typically associated with investing in the United States. These risks include revaluation of currencies, high rates of inflation, repatriation restrictions on income and capital, and adverse political and economic developments. Moreover, securities issued in these markets may be less liquid, subject to government ownership controls, delayed settlements, and their prices may be more volatile than those of comparable securities in the United States.

     The Money Market Fund uses the amortized-cost method, as permitted by Rule 2a-7 under the Act, for valuing portfolio securities, which approximates market value. Under this method, all investments purchased at a discount or premium are valued by accreting or amortizing the difference between the original purchase price and maturity value of the issue over the period to maturity.

Forward Foreign Currency Exchange Contracts — The Funds, except the Government Income Fund, may enter into forward foreign currency contracts for the purchase or sale of a specific foreign currency at a fixed price on a future date as a hedge or cross-hedge against either specific transactions or portfolio positions. The Funds may also purchase and sell forward contracts to seek to increase total return. All commitments are “marked-to-market” daily at the applicable translation rates. The Funds record realized gains or losses at the time a forward contract is offset by entry into a closing transaction or extinguished by delivery of the currency. Risks may arise upon entering into these contracts from the potential inability of counterparties to meet the terms of their contracts and from unanticipated movements in the value of a foreign currency relative to the U.S. dollar.

     The contractual amounts of forward foreign currency exchange contracts do not necessarily represent the amounts potentially subject to risk. The measurement of the risks associated with these instruments is meaningful only when all related and offsetting transactions are considered. At March 31, 2007, the Funds had segregated sufficient cash and/or securities to cover any commitments under these contracts.

Futures Contracts — The Funds, except the Money Market Fund, may enter into futures transactions to hedge against changes in interest rates, securities prices, currency exchange rates or to seek to increase total return. Futures contracts are valued at the last settlement price or in the absence of a sale, the last bid price, at the end of each day on the board of trade or exchange upon which they are traded. Upon entering into a futures contract, the Funds are required to segregate cash or securities equal to the minimum “initial margin” requirement of the associated futures exchange. Subsequent payments for futures contracts (“variation margin”) are paid or received by the Funds, dependent on the fluctuations in the value of the contracts, and are recorded for financial reporting purposes as unrealized gains or losses. When contracts are closed, the Funds realize a gain or loss.

GOLDMAN SACHS VARIABLE INSURANCE TRUST FUNDS

Schedule of Investments (continued)

March 31, 2007 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (CONTINUED)

     The use of futures contracts involve, to varying degrees, elements of market and counterparty risk which may exceed the amounts recognized in the Statement of Assets and Liabilities. Changes in the value of the futures contract may not directly correlate with changes in the value of the underlying securities. This risk may decrease the effectiveness of the Funds’ strategies and potentially result in a loss.

Repurchase Agreements — Repurchase agreements involve the purchase of securities subject to the seller’s agreement to repurchase the securities at a mutually agreed upon date and price. During the term of a repurchase agreement, the value of the underlying securities held as collateral on behalf of the Money Market Fund, including accrued interest, is required to exceed the value of the repurchase agreement, including accrued interest. If the seller defaults or becomes insolvent, realization of the collateral by the Fund may be delayed or limited and there may be a decline in the value of the collateral during the period while the Fund seeks to assert its rights. The underlying securities for all repurchase agreements are held in safekeeping at the Fund’s custodian or designated subcustodians under triparty repurchase agreements.

     Pursuant to exemptive relief granted by the Securities and Exchange Commission (“SEC”) and terms and conditions contained therein, the Fund, together with other registered investment companies having management or investment advisory agreements with Goldman Sachs Asset Management, L.P. (“GSAM”), or its affiliates, may transfer uninvested cash into joint accounts, the daily aggregate balance of which is invested in one or more repurchase agreements.

At March 31, 2007, the Money Market Fund had undivided interests in the Joint Repurchase Agreement Account II, as follows:

	Principal
Fund	Amount
Money Market	$	17,500,000

	Principal		Interest			Maturity	Maturity
Counterparty	Amount		Rate			Date	Value
Banc of America Securities LLC	$	2,000,000,000		5.420	%	04/02/07	$	2,000,903,333
Barclays Capital PLC		850,000,000		5.390		04/02/07		850,381,792
Barclays Capital PLC		700,000,000		5.430		04/02/07		700,316,750
Barclays Capital PLC		160,000,000		5.450		04/02/07		160,072,667
Bear Stearns		500,000,000		5.400		04/02/07		500,225,000
Citigroup Global Markets, Inc.		1,500,000,000		5.400		04/02/07		1,500,675,000
Deutsche Bank Securities, Inc.		2,000,000,000		5.400		04/02/07		2,000,900,000
Deutsche Bank Securities, Inc.		900,000,000		5.420		04/02/07		900,406,500
Greenwich Capital Markets		550,000,000		5.400		04/02/07		550,247,500
Merrill Lynch		500,000,000		5.390		04/02/07		500,224,583
UBS Securities LLC		900,000,000		5.380		04/02/07		900,403,500
Wachovia Capital Markets		250,000,000		5.400		04/02/07		250,112,500
TOTAL	$	10,810,000,000					$	10,814,869,125

At March 31, 2007, the Joint Repurchase Agreement Account II was fully collateralized by Federal Home Loan Bank, 4.100% to 5.250%, due 12/27/07 to 10/14/11; Federal Home Loan Mortgage Association, 3.500% to 8.500%, due 04/01/08 to 02/01/47; Federal National Mortgage Association, 0.000% to 16.000%, due 04/02/07 to 02/01/47; Government National Mortgage Association, 4.500% to 9.000%, due 10/15/09 to 03/20/37 and U.S. Treasury Note, 4.750%, due 02/28/09. The aggregate market value of the collateral, including accrued interest, was $11,050,210,239.

Securities Lending — Pursuant to exemptive relief granted by the Securities and Exchange Commission (“SEC”) and the terms and conditions contained therein, the Funds may lend their securities through a securities lending agent, Boston Global Advisers (“BGA”), a wholly-owned subsidiary of Goldman, Sachs & Co. (“Goldman Sachs”), to certain qualified borrowers including Goldman Sachs and affiliates. In accordance with the Funds’ security lending procedures, the loans are collateralized at all times with cash and/or securities with a market value at least equal to the securities on loan. The market value of the loaned securities is determined at the close of business of the Funds, at their last sale price or official closing price on the principal exchange or system on which they are traded, and any additional required collateral is delivered to the Funds on the next business day. As with other extensions of credit, the Funds bear the risk of delay on recovery or loss of rights in the collateral should the borrower of the securities fail financially.

     Both the Funds and BGA receive compensation relating to the lending of the Funds’ securities. The Funds invest the cash collateral received in connection with securities lending transactions in the Enhanced Portfolio of Boston Global Investment Trust, a Delaware statutory trust. The Enhanced Portfolio is exempt from registration under Section 3(c)(7) of the Act and is managed by GSAM, for which GSAM receives an investment advisory fee of up to 0.10% of the average daily net assets of the Enhanced Portfolio. The Enhanced Portfolio invests in high quality money market instruments. The Funds bear the risk of incurring a loss from the investment of cash collateral due to either credit or market factors.

Segregation Transactions — The Funds may enter into certain derivative transactions to seek to increase total return. Forward foreign currency exchange contracts, futures contracts, written options, when issued securities and forward commitments represent examples of such transactions. As a result of entering into these transactions, the Funds are required to segregate liquid assets with a current value equal to or greater than the market value of the corresponding transactions.

Treasury Inflation-Protected Securities — The Funds may invest in Treasury Inflation-Protected Securities (“TIPS”), specially structured bonds for which the principal amount is adjusted daily to keep pace with inflation, as measured by the U.S. Consumer Pricing Index (“CPI”). The adjustments for interest income due to inflation are reflected in interest income. The repayment of the original bond principal upon maturity is guaranteed by the full faith and credit of the U.S. Government.

Item 1. Schedule of Investments.

Item 2. Controls and Procedures.

(a) The Registrant’s Principal Executive Officer and Principal Financial Officer concluded that the Registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) were effective as of a date within 90 days of the filing date of this report (the “Evaluation Date”), based on their evaluation of the effectiveness of the Registrant’s disclosure controls and procedures as of the Evaluation Date.

(b) There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the Registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

Item 3. Exhibits.

(a) Separate certifications for the principal executive officer and the principal financial officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) are filed herewith.

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant)	Goldman Sachs Variable Insurance Trust
By (Signature and Title)*		/s/ KAYSIE UNIACKE, PRESIDENT/PRINCIPAL EXECUTIVE OFFICER
Date                   May 30, 2007

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title)*	/s/ KAYSIE UNIACKE, PRESIDENT/PRINCIPAL EXECUTIVE OFFICER
Date         May 30, 2007
By (Signature and Title)*	/s/ JOHN M. PERLOWSKI, TREASURER/PRINCIPAL FINANCIAL OFFICER
Date         May 30, 2007

* Print the name and title of each signing officer under his or her signature.