N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

GOLDMAN SACHS VARIABLE INSURANCE TRUST CAPITAL GROWTH FUND

Schedule of Investments

September 30, 2007 (Unaudited)


Shares		Description	Value
Common Stocks — 99.6%
Automobiles & Components — 0.7%
	192,500	Gentex Corp.	$	4,127,200

Banks — 2.9%
	265,055	Freddie Mac		15,640,895

Capital Goods — 3.4%
	59,400	Rockwell Automation, Inc.		4,128,894
	123,630	United Technologies Corp.		9,949,742
	49,610	W.W. Grainger, Inc.		4,523,936

				18,602,572

Consumer Durables & Apparel — 4.4%
	84,500	Coach, Inc.^*		3,994,315
	113,280	Fortune Brands, Inc.		9,231,187
	115,100	Mattel, Inc.		2,700,246
	278,600	Newell Rubbermaid, Inc.		8,029,252

				23,955,000

Consumer Services — 0.9%
	190,200	Starbucks Corp.^*		4,983,240

Diversified Financials — 9.2%
	139,960	American Express Co.		8,309,425
	10,000	CME Group, Inc.		5,873,500
	201,872	Discover Financial Services^*		4,198,938
	46,700	Legg Mason, Inc.		3,936,343
	98,990	Moody’s Corp.		4,989,096
	121,245	Morgan Stanley		7,638,435
	461,030	The Charles Schwab Corp.		9,958,248
	91,500	UBS AG		4,872,375

				49,776,360

Energy — 15.3%
	173,338	Baker Hughes, Inc.		15,664,555
	71,840	Canadian Natural Resources Ltd.		5,441,880
	103,100	Grant Prideco, Inc.^*		5,621,012
	83,800	Occidental Petroleum Corp.		5,369,904
	128,500	Quicksilver Resources, Inc.^*(a)		6,045,925
	119,040	Schlumberger Ltd.		12,499,200
	201,120	Suncor Energy, Inc.		19,068,187
	201,000	Weatherford International Ltd.^*		13,503,180

				83,213,843

Food & Staples Retailing — 3.6%
	111,700	Costco Wholesale Corp.		6,855,029
	170,800	CVS/Caremark Corp.		6,768,804
	138,420	Wal-Mart Stores, Inc.		6,042,033

				19,665,866

Food, Beverage & Tobacco — 3.2%
	58,100	Altria Group, Inc.		4,039,693
	184,400	PepsiCo, Inc.		13,509,144

				17,548,837

Health Care Equipment & Services — 2.7%
	115,400	Baxter International, Inc.		6,494,712
	183,900	St. Jude Medical, Inc.^*		8,104,473

				14,599,185

Household & Personal Products — 1.1%
	83,900	Procter & Gamble Co.		5,901,526


Shares		Description	Value
Common Stocks — (continued)
Media — 3.9%
	79,611	Lamar Advertising Co. Class A	$	3,898,550
	153,000	National CineMedia, Inc.		3,427,200
	173,025	The McGraw-Hill Companies, Inc.		8,808,703
	121,774	Viacom, Inc. Class B^*		4,745,533

				20,879,986

Pharmaceuticals, Biotechnology & Life Sciences — 11.6%
	108,134	Amylin Pharmaceuticals, Inc.^*(a)		5,406,700
	116,112	Celgene Corp.^*		8,279,947
	102,790	Charles River Laboratories International, Inc.^*		5,771,659
	126,700	Genentech, Inc.^*		9,885,134
	134,053	Gilead Sciences, Inc.^*		5,478,746
	108,100	Johnson & Johnson		7,102,170
	177,300	Merck & Co., Inc.		9,164,637
	164,100	Thermo Fisher Scientific, Inc.^*		9,471,852
	48,335	Wyeth		2,153,324

				62,714,169

Real Estate — 0.3%
	58,400	CB Richard Ellis Group, Inc. Class A^*		1,625,856

Retailing — 4.2%
	68,500	J.C. Penney Co., Inc.		4,340,845
	352,640	Lowe’s Companies, Inc.		9,880,973
	194,400	The Home Depot, Inc.		6,306,336
	72,900	Williams-Sonoma, Inc.		2,377,998

				22,906,152

Semiconductors & Semiconductor Equipment — 2.0%
	304,579	Linear Technology Corp.^(a)		10,657,219

Software & Services — 15.3%
	275,600	Activision, Inc.^*		5,950,204
	74,420	Cognizant Technology Solutions Corp. Class A^*		5,936,484
	179,825	Electronic Arts, Inc.^*		10,068,402
	71,100	Global Payments, Inc.		3,144,042
	35,610	Google, Inc. Class A^*		20,200,485
	118,200	Iron Mountain, Inc.^*		3,602,736
	600,668	Microsoft Corp.		17,695,679
	495,191	Western Union Co.		10,384,155
	213,974	Yahoo!, Inc.^*		5,743,062

				82,725,249

Technology Hardware & Equipment — 9.5%
	65,500	Apple Computer, Inc.^*		10,056,870
	582,090	Cisco Systems, Inc.^*		19,273,000
	271,791	QUALCOMM, Inc.		11,485,888
	107,900	Research In Motion Ltd.^*		10,633,545

				51,449,303

Telecommunication Services — 5.4%
	339,090	American Tower Corp. Class A^*		14,763,979
	91,750	Crown Castle International Corp.^*		3,727,802
	166,900	MetroPCS Communications, Inc.^*(a)		4,553,032
	323,500	Sprint Nextel Corp.		6,146,500

				29,191,313

TOTAL COMMON STOCKS			$	540,163,771


Principal		Interest			Maturity
Amount		Rate			Date	Value
Short-Term Obligation — 1.9%
JPMorgan Chase Euro — Time Deposit
$	10,037,447		4.897	%	10/01/07	$	10,037,447

TOTAL INVESTMENTS BEFORE SECURITIES LENDING COLLATERAL						$	550,201,218

GOLDMAN SACHS VARIABLE INSURANCE TRUST CAPITAL GROWTH FUND

Schedule of Investments (continued)

September 30, 2007 (Unaudited)


	Interest
Shares	Rate			Value
Securities Lending Collateral^(b) — 3.4%
Boston Global Investment Trust — Enhanced Portfolio
18,318,950		5.410	%	$	18,318,950

TOTAL INVESTMENTS — 104.9%				$	568,520,168

LIABILITIES IN EXCESS OF OTHER ASSETS — (4.9%)					(26,357,851	)

NET ASSETS — 100.0%				$	542,162,317

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.

(b) Variable rate security. Interest rate disclosed is that which is in effect at September 30, 2007.

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 GROWTH AND INCOME FUND

Schedule of Investments

September 30, 2007 (Unaudited)


Shares		Description	Value
Common Stocks — 98.0%
Banks — 8.6%
	106,708	Astoria Financial Corp.	$	2,830,963
	40,700	BB&T Corp.		1,643,873
	192,300	FirstMerit Corp.		3,799,848
	67,360	Freddie Mac		3,974,914
	227,183	KeyCorp		7,344,826
	73,397	Regions Financial Corp.		2,163,743
	317,345	Wachovia Corp.		15,914,852
	285,206	Wells Fargo & Co.		10,159,038

				47,832,057

Capital Goods — 7.0%
	57,868	Caterpillar, Inc.		4,538,587
	592,130	General Electric Co.		24,514,182
	117,751	United Technologies Corp.		9,476,601

				38,529,370

Commercial Services & Supplies — 1.3%
	185,734	Waste Management, Inc.		7,009,601

Consumer Durables & Apparel — 1.6%
	307,025	Newell Rubbermaid, Inc.		8,848,460

Consumer Services — 0.5%
	126,611	H&R Block, Inc.		2,681,621

Diversified Financials — 12.9%
	82,284	AllianceBernstein Holding LP		7,246,752
	314,536	Bank of America Corp.		15,811,725
	567,326	Citigroup, Inc.		26,477,104
	292,077	JPMorgan Chase & Co.		13,382,968
	89,516	Morgan Stanley		5,639,508
	143,910	The Charles Schwab Corp.		3,108,456

				71,666,513

Energy — 22.9%
	33,555	Baker Hughes, Inc.		3,032,365
	122,266	Chevron Corp.		11,441,652
	234,872	Devon Energy Corp.		19,541,351
	180,982	Entergy Corp.		19,598,541
	240,753	Enterprise Products Partners LP		7,282,778
	258,798	Exxon Mobil Corp.		23,954,343
	109,156	Hess Corp.		7,262,149
	119,669	Magellan Midstream Partners LP		4,790,350
	213,517	Occidental Petroleum Corp.		13,682,169
	288,628	Williams Companies, Inc.		9,830,670
	162,308	Williams Partners LP		6,706,567

				127,122,935

Food & Staples Retailing — 0.5%
	68,413	SUPERVALU, Inc.		2,668,791

Food, Beverage & Tobacco — 5.7%
	237,837	Altria Group, Inc.		16,536,807
	34,825	Reynolds American, Inc.^(a)		2,214,522
	52,480	The Coca-Cola Co.		3,016,025
	309,485	Unilever NV		9,547,612

				31,314,966

Health Care Equipment & Services — 1.2%
	120,300	Baxter International, Inc.		6,770,484

Household & Personal Products — 0.3%
	28,603	The Clorox Co.		1,744,497


Shares		Description	Value
Common Stocks — (continued)
Insurance — 3.7%
	86,915	American International Group, Inc.	$	5,879,800
	59,961	Hartford Financial Services Group, Inc.		5,549,391
	45,550	MBIA, Inc.		2,780,827
	35,675	PartnerRe Ltd.		2,817,968
	64,744	The Allstate Corp.		3,702,709

				20,730,695

Materials — 1.6%
	161,459	International Paper Co.		5,791,534
	53,354	Nucor Corp.		3,172,963

				8,964,497

Media — 3.1%
	950,512	Time Warner, Inc.		17,451,400

Pharmaceuticals, Biotechnology & Life Sciences — 4.9%
	73,779	Abbott Laboratories		3,956,030
	148,285	Johnson & Johnson		9,742,325
	217,210	Pfizer, Inc.		5,306,440
	180,917	Wyeth		8,059,852

				27,064,647

REIT — 5.3%
	206,955	Annaly Capital Management, Inc.		3,296,793
	99,993	Apartment Investment & Management Co.		4,512,684
	155,222	Brandywine Realty Trust		3,928,669
	41,995	Camden Property Trust		2,698,179
	372,055	DCT Industrial Trust, Inc.		3,895,416
	39,753	Developers Diversified Realty Corp.		2,221,000
	68,313	Mack-Cali Realty Corp.		2,807,664
	45,139	Pennsylvania Real Estate Investment Trust		1,757,713
	38,101	Vornado Realty Trust		4,166,344

				29,284,462

Retailing — 0.9%
	79,510	J.C. Penney Co., Inc.		5,038,549

Technology Hardware & Equipment — 1.9%
	217,158	Hewlett-Packard Co.		10,812,297

Telecommunication Services — 9.1%
	839,763	AT&T, Inc.		35,530,373
	771,768	Sprint Nextel Corp.		14,663,592

				50,193,965

Utilities — 5.0%
	45,650	Edison International		2,531,293
	66,935	Equitable Resources, Inc.		3,471,918
	84,863	Exelon Corp.		6,395,276
	75,625	FirstEnergy Corp.		4,790,087
	28,200	PG&E Corp.		1,347,960
	189,254	PPL Corp.		8,762,460
	8,600	SCANA Corp.		333,164

				27,632,158

TOTAL COMMON STOCKS			$	543,361,965

GOLDMAN SACHS VARIABLE INSURANCE TRUST GROWTH AND INCOME FUND

Schedule of Investments (continued)

September 30, 2007 (Unaudited)


Principal		Interest			Maturity
Amount		Rate			Date		Value
Short-Term Obligation — 1.0%
JPMorgan Chase Euro — Time Deposit
$	5,507,853		4.897	%		10/01/07	$	5,507,853

TOTAL INVESTMENTS BEFORE SECURITIES LENDING COLLATERAL							$	548,869,818


		Interest
Shares		Rate		Value
Securities Lending Collateral^(b) — 0.4%
Boston Global Investment Trust — Enhanced Portfolio
	2,015,000	5.410	%	$	2,015,000

TOTAL INVESTMENTS — 99.4%				$	550,884,818

OTHER ASSETS IN EXCESS OF LIABILITIES — 0.6%					3,204,326

NET ASSETS — 100.0%				$	554,089,144

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

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

(b) Variable rate security. Interest rate disclosed is that which is in effect at September 30, 2007.

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

September 30, 2007 (Unaudited)


Shares		Description	Value
Common Stocks — 98.8%
Automobiles & Components — 3.1%
	99,867	BorgWarner, Inc.	$	9,140,827
	711,247	Ford Motor Co.^*(a)		6,038,487
	301,654	Johnson Controls, Inc.		35,628,354
	271,182	Tenneco, Inc.^*		8,409,354

				59,217,022

Banks — 7.3%
	442,838	Astoria Financial Corp.		11,748,492
	378,566	Commerce Bancorp, Inc.		14,680,790
	292,072	Commerce Bancshares, Inc.		13,403,184
	841,445	Hudson City Bancorp, Inc.		12,941,424
	911,815	KeyCorp		29,478,979
	363,353	M&T Bank Corp.		37,588,868
	515,617	Webster Financial Corp.		21,717,788

				141,559,525

Capital Goods — 4.2%
	103,053	Alliant Techsystems, Inc.^*		11,263,693
	205,763	Cooper Industries Ltd. Class A		10,512,432
	192,584	Eaton Corp.		19,073,519
	126,600	Parker Hannifin Corp.		14,157,678
	373,207	Rockwell Collins, Inc.		27,259,039

				82,266,361

Commercial Services & Supplies — 2.6%
	1,987,489	Allied Waste Industries, Inc.^*		25,340,485
	496,000	Monster Worldwide, Inc.^*		16,893,760
	164,700	Pitney Bowes, Inc.		7,480,674

				49,714,919

Consumer Durables & Apparel — 3.8%
	194,510	Fortune Brands, Inc.		15,850,620
	150,431	Lennar Corp. Class A		3,407,262
	325,838	Lennox International, Inc.		11,013,325
	519,300	Mattel, Inc.		12,182,778
	1,072,794	Newell Rubbermaid, Inc.		30,917,923

				73,371,908

Consumer Services — 1.4%
	160,292	Boyd Gaming Corp.		6,868,512
	981,108	H&R Block, Inc.		20,779,868

				27,648,380

Diversified Financials — 2.5%
	442,734	CIT Group, Inc.		17,797,907
	141,055	Lazard Ltd. Class A		5,980,732
	371,372	Northern Trust Corp.		24,610,822

				48,389,461

Energy — 11.9%
	397,059	EOG Resources, Inc.		28,719,277
	660,800	Hess Corp.		43,963,024
	100,100	Oil States International, Inc.^*		4,834,830
	1,420,933	Range Resources Corp.		57,775,136
	192,800	Tesoro Corp.		8,872,656
	1,869,311	The Williams Cos., Inc.		63,668,733
	150,159	W-H Energy Services, Inc.^*		11,074,226
	145,054	Weatherford International Ltd.^*		9,744,728

				228,652,610


Shares		Description	Value
Common Stocks — (continued)
Food & Staples Retailing — 2.4%
	372,770	Safeway, Inc.		$12,342,415
	880,903	SUPERVALU, Inc.		34,364,026

				46,706,441

Food, Beverage & Tobacco — 2.0%
	314,044	Coca-Cola Enterprises, Inc.		7,606,146
	187,700	ConAgra Foods, Inc.		4,904,601
	93,158	Loews Corp. — Carolina Group		7,660,382
	154,796	Pepsi Bottling Group, Inc.		5,753,767
	125,219	Reynolds American, Inc.^(a)		7,962,676
	124,909	Smithfield Foods, Inc.^*		3,934,634

				37,822,206

Health Care Equipment & Services — 2.2%
	87,830	Coventry Health Care, Inc.^*		5,463,904
	241,031	Edwards Lifesciences Corp.^*		11,885,239
	94,805	Health Net, Inc.^*		5,124,210
	661,830	IMS Health, Inc.		20,278,471

				42,751,824

Household & Personal Products — 1.5%
	467,054	Clorox Co.		28,485,624

Insurance — 6.9%
	490,920	AMBAC Financial Group, Inc.		30,883,777
	265,108	Assurant, Inc.		14,183,278
	251,096	Everest Re Group Ltd.		27,680,823
	208,897	PartnerRe Ltd.		16,500,774
	207,947	Philadelphia Consolidated Holding Corp.^*		8,596,529
	154,483	RenaissanceRe Holdings Ltd.		10,104,733
	185,426	The PMI Group, Inc.		6,063,430
	389,025	Unum Corp.		9,519,442
	111,557	XL Capital Ltd. Class A		8,835,314

				132,368,100

Materials — 6.1%
	257,196	Airgas, Inc.		13,279,029
	192,227	Albemarle Corp.		8,496,433
	462,900	Celanese Corp. Series A		18,043,842
	1,075,148	Chemtura Corp.		9,558,066
	404,301	Commercial Metals Co.		12,796,127
	87,478	Cytec Industries, Inc.		5,982,620
	1,442,050	Domtar Corp.^*		11,824,810
	410,100	International Paper Co.		14,710,287
	326,500	Nucor Corp.		19,416,955
	150,873	Ternium S.A. ADR		4,737,412

				118,845,581

Media — 0.6%
	4,485,471	Charter Communications, Inc. Class A^*(a)		11,572,515

Pharmaceuticals, Biotechnology & Life Sciences — 0.9%
	616,946	PerkinElmer, Inc.		18,020,993

REIT — 9.0%
	600,100	Annaly Capital Management, Inc.		9,559,593
	596,928	Apartment Investment & Management Co.		26,939,361
	462,722	Brandywine Realty Trust		11,711,494
	145,900	Camden Property Trust		9,374,075
	921,056	DCT Industrial Trust, Inc.		9,643,456
	179,171	Developers Diversified Realty Corp.		10,010,284
	567,326	Highwoods Properties, Inc.		20,803,844
	524,466	Liberty Property Trust		21,088,778
	345,872	Mack-Cali Realty Corp.		14,215,339
	512,018	Pennsylvania Real Estate Investment Trust		19,937,981
	186,606	Vornado Realty Trust		20,405,366

				173,689,571

GOLDMAN SACHS VARIABLE INSURANCE TRUST MID CAP VALUE FUND

Schedule of Investments (continued)

September 30, 2007 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Retailing — 1.5%
	347,337	J.C. Penney Co., Inc.	$	22,010,746
	285,481	Ross Stores, Inc.		7,319,733

				29,330,479

Semiconductors & Semiconductor Equipment — 1.8%
	748,605	LSI Corp.^*		5,554,649
	445,686	National Semiconductor Corp.		12,087,004
	438,362	Tessera Technologies, Inc.^*		16,438,575

				34,080,228

Software & Services — 1.7%
	1,212,650	Activision, Inc.^*		26,181,113
	1,417,238	BearingPoint, Inc.^*		5,739,814

				31,920,927

Technology Hardware & Equipment — 4.9%
	948,369	Amphenol Corp. Class A		37,707,152
	496,200	Lexmark International, Inc. Class A^*		20,607,186
	758,100	Seagate Technology		19,392,198
	934,277	Xerox Corp.^*		16,200,363

				93,906,899

Telecommunication Services — 4.0%
	1,794,652	Cincinnati Bell, Inc.^*(a)		8,865,581
	510,985	Embarq Corp.		28,410,766
	242,923	MetroPCS Communications, Inc.^*(a)		6,626,939
	3,601,473	Qwest Communications International, Inc.^*		32,989,493

				76,892,779

Transportation — 3.0%
	382,800	J.B. Hunt Transport Services, Inc.		10,067,640
	332,775	Landstar System, Inc.		13,966,567
	300,737	Norfolk Southern Corp.		15,611,257
	392,000	Ryder System, Inc.		19,208,000

				58,853,464

Utilities — 13.5%
	354,982	American Electric Power Co., Inc.		16,357,570
	337,645	CMS Energy Corp.		5,679,189
	67,978	Constellation Energy Group, Inc.		5,831,833
	1,117,704	DPL, Inc.		29,350,907
	558,497	Edison International		30,968,659
	510,001	Entergy Corp.		55,228,008
	90,600	Equitable Resources, Inc.		4,699,422
	350,770	FirstEnergy Corp.		22,217,772
	596,948	PG&E Corp.		28,534,114
	952,096	PPL Corp.		44,082,045
	56,747	SCANA Corp.		2,198,379
	327,144	Wisconsin Energy Corp.		14,731,294

				259,879,192

TOTAL COMMON STOCKS			$	1,905,947,009


Principal		Interest			Maturity
Amount		Rate			Date		Value
Short-Term Obligation — 1.5%
JPMorgan Chase Euro — Time Deposit
$	28,442,509		4.897	%		10/01/07	$	28,442,509

TOTAL INVESTMENTS BEFORE SECURITIES LENDING COLLATERAL							$	1,934,389,518


	Interest
Shares	Rate			Value
Securities Lending Collateral^(b) — 1.2%
Boston Global Investment Trust — Enhanced Portfolio
23,677,525		5.410	%	$	23,677,525

TOTAL INVESTMENTS — 101.5%				$	1,958,067,043

LIABILITIES IN EXCESS OF OTHER ASSETS — (1.5)%					(29,651,837	)

NET ASSETS — 100.0%				$	1,928,415,206

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.

(b) Variable rate security. Interest rate disclosed is that which is in effect at September 30, 2007.

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
REIT		— Real Estate Investment Trust

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRATEGIC INTERNATIONAL EQUITY FUND

Schedule of Investments

September 30, 2007 (Unaudited)


Shares		Description	Value
Common Stocks — 97.4%
Australia — 2.0%
	1,201,253	Alumina Ltd. (Materials)	$	7,599,012

Belgium — 4.0%
	165,079	InBev NV (Food, Beverage & Tobacco)		14,948,729

Brazil — 3.0%
	400,452	Companhia Vale do Rio Doce Preference A Shares ADR (Materials)		11,392,859

France — 8.4%
	151,050	Ipsen SA (Pharmaceuticals, Biotechnology & Life Sciences)		8,718,305
	119,080	Sanofi-Aventis (Pharmaceuticals, Biotechnology & Life Sciences)		10,091,808
	145,559	Technip SA (Energy)		12,993,565

				31,803,678

Germany — 17.9%
	85,950	Bilfinger & Berger AG (Capital Goods)		6,717,788
	123,480	DaimlerChrysler AG (Automobiles & Components)		12,366,156
	827,750	Deutsche Telekom AG (Telecommunication Services)		16,253,309
	72,349	E.ON AG (Utilities)		13,357,146
	101,626	Merck KGaA (Pharmaceuticals, Biotechnology & Life Sciences)		12,245,148
	85,039	Rheinmetall AG (Capital Goods)		6,746,344

				67,685,891

Hong Kong — 3.3%
	777,100	Esprit Holdings Ltd. (Retailing)		12,313,250

India — 2.3%
	331,100	Satyam Computer Services Ltd. ADR (Software & Services)		8,572,179

Italy — 5.3%
	330,410	Mediobanca SpA^(a) (Diversified Financials)		7,225,237
	1,510,245	UniCredito Italiano SpA (Banks)		12,928,928

				20,154,165

Japan — 8.3%
	300,500	Millea Holdings, Inc. (Insurance)		12,036,833
	822,000	Mitsubishi Gas Chemical Co., Inc. (Materials)		7,589,034
	1,492	Sumitomo Mitsui Financial Group, Inc. (Banks)		11,575,243

				31,201,110

Netherlands — 2.4%
	219,386	TNT NV (Transportation)		9,190,800

Norway — 2.5%
	528,240	Prosafe ASA^(a) (Energy)		9,441,642

Russia — 4.3%
	88,036	LUKOIL ADR London Shares (Energy)		7,278,248
	16,213	LUKOIL ADR U.S. Shares (Energy)		1,344,382
	16,197	Sberbank RF GDR^* (Banks)		7,540,881

				16,163,511

Spain — 6.3%
	633,244	Banco Bilbao Vizcaya Argentaria SA (Banks)		14,852,870
	327,688	Indra Sistemas SA (Software & Services)		8,853,701

				23,706,571

Sweden — 2.7%
	476,171	Tele2 AB Class B (Telecommunication Services)		10,277,816

Switzerland — 6.7%
	118,345	Credit Suisse Group (Diversified Financials)		7,865,679
	39,094	Nestle SA (Food, Beverage & Tobacco)		17,525,472

				25,391,151


Shares		Description	Value
Common Stocks — (continued)
Taiwan — 3.4%
	1,269,090	Taiwan Semiconductor Manufacturing Co. Ltd. ADR (Semiconductors & Semiconductor Equipment)	$	12,843,191

United Kingdom — 14.6%
	129,927	Anglo American PLC (Materials)		8,703,596
	1,096,100	Invesco PLC^(b) (Diversified Financials)		14,807,210
	3,957,757	Old Mutual PLC (Insurance)		12,940,744
	790,842	Prudential PLC (Insurance)		12,120,863
	383,236	Wolseley PLC (Capital Goods)		6,470,236

				55,042,649

TOTAL COMMON STOCKS			$	367,728,204

Principal

Interest

Maturity

Amount

Rate

Date

Value

Short-Term Obligation — 2.6%

JPMorgan Chase Euro — Time Deposit

9,809,597

4.897%

10/01/07

9,809,597

TOTAL INVESTMENTS BEFORE SECURITIES LENDING COLLATERAL

377,537,801


		Interest
Shares		Rate	Value
Securities Lending Collateral^(c) — 2.3%
	Boston Global Investment Trust — Enhanced Portfolio
	8,523,240	5.410%	$	8,523,240

TOTAL INVESTMENTS — 102.3%			$	386,061,041

LIABILITIES IN EXCESS OF OTHER ASSETS — (2.3)%				(8,574,318	)

NET ASSETS — 100.0%			$	377,486,723

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.

(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 $14,807,210, which represents approximately 3.9% of net assets as of September 30, 2007.

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

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRATEGIC INTERNATIONAL EQUITY FUND

Schedule of Investments (continued)

September 30, 2007 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FUTURES CONTRACTS — At September 30, 2007, the following future contracts were open:


	Number of		Settlement			Unrealized
Type	Contracts Long		Month	Notional Value		Gain

Dow Jones Euro Stoxx 50 Index		62	December 2007	$	3,899,717	$	167,679
Topix Index		38	December 2007		5,372,568		333,535

TOTAL						$	501,214

Tax Information — At September 30, 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	$	338,550,495

Gross unrealized gain		58,343,782
Gross unrealized loss		(10,833,236	)

Net unrealized security gain	$	47,510,546

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 OPPORTUNITIES FUND

Schedule of Investments

September 30, 2007 (Unaudited)


Shares		Description	Value
Common Stocks — 96.4%
Automobiles & Components — 2.5%
	221,000	Gentex Corp.	$	4,738,240
	13,166	WABCO Holdings, Inc.		615,510

				5,353,750

Banks — 1.4%
	77,910	Commerce Bancorp, Inc.^(a)		3,021,350

Capital Goods — 8.0%
	42,700	Alliant Techsystems, Inc.^*		4,667,110
	16,800	First Solar, Inc.^*		1,978,032
	32,400	Kennametal, Inc.		2,720,952
	23,690	Rockwell Automation, Inc.		1,646,692
	37,100	Roper Industries, Inc.		2,430,050
	42,400	W.W. Grainger, Inc.		3,866,456

				17,309,292

Consumer Durables & Apparel — 7.4%
	96,400	Coach, Inc.^*		4,556,828
	61,110	Fortune Brands, Inc.		4,979,854
	91,700	Mattel, Inc.		2,151,282
	148,300	Newell Rubbermaid, Inc.		4,274,006

				15,961,970

Consumer Services — 1.3%
	61,200	Pinnacle Entertainment, Inc.^*		1,666,476
	20,750	Weight Watchers International, Inc.		1,194,370

				2,860,846

Diversified Financials — 6.3%
	176,000	Discover Financial Services^*		3,660,800
	28,000	HFF, Inc. Class A^*		332,360
	41,100	Legg Mason, Inc.		3,464,319
	56,300	Moody’s Corp.		2,837,520
	101,000	Raymond James Financial, Inc.		3,317,850

				13,612,849

Energy — 9.2%
	44,450	Cameron International Corp.^*		4,102,290
	68,700	Grant Prideco, Inc.^*		3,745,524
	61,200	Quicksilver Resources, Inc.^*		2,879,460
	63,800	Smith International, Inc.		4,555,320
	70,810	Weatherford International Ltd.^*		4,757,016

				20,039,610

Food, Beverage & Tobacco — 0.8%
	29,200	Hansen Natural Corp.^*		1,655,056

Health Care Equipment & Services — 9.9%
	86,190	Charles River Laboratories International, Inc.^*		4,839,569
	51,605	C.R. Bard, Inc.		4,551,045
	59,900	Psychiatric Solutions, Inc.^*		2,352,872
	122,700	St. Jude Medical, Inc.^*		5,407,389
	75,720	Thermo Fisher Scientific, Inc.^*		4,370,558

				21,521,433

Household & Personal Products — 1.1%
	34,900	Chattem, Inc.^*		2,461,148

Insurance — 2.7%
	44,600	Aon Corp.		1,998,526
	50,200	Principal Financial Group, Inc.		3,167,118
	35,200	Security Capital Assurance Ltd.		803,968

				5,969,612


Shares		Description	Value
Common Stocks — (continued)
Media — 3.1%
	346,000	Entravision Communications Corp. Class A^*	$	3,190,120
	44,300	Lamar Advertising Co. Class A		2,169,371
	64,000	National CineMedia, Inc.		1,433,600

				6,793,091

Pharmaceuticals, Biotechnology & Life Sciences — 2.2%
	74,500	Amylin Pharmaceuticals, Inc.^*		3,725,000
	14,000	Millipore Corp.^*		1,061,200

				4,786,200

Real Estate — 1.0%
	75,700	CB Richard Ellis Group, Inc. Class A^*		2,107,488

Retailing — 6.8%
	60,900	Advance Auto Parts, Inc.		2,043,804
	109,680	Chico’s FAS, Inc.^*		1,541,004
	42,400	J.C. Penney Co., Inc.		2,686,888
	81,600	Netflix, Inc.^*^(a)		1,690,752
	128,770	Urban Outfitters, Inc.^*		2,807,186
	119,900	Williams-Sonoma, Inc.		3,911,138

				14,680,772

Semiconductors & Semiconductor Equipment — 5.1%
	93,800	FormFactor, Inc.^*		4,161,906
	71,000	Linear Technology Corp.^(a)		2,484,290
	120,100	Tessera Technologies, Inc.^*		4,503,750

				11,149,946

Software & Services — 15.9%
	269,566	Activision, Inc.^*		5,819,930
	22,100	Bankrate, Inc.^*^(a)		1,019,252
	36,110	Cognizant Technology Solutions Corp. Class A^*		2,880,494
	72,400	Electronic Arts, Inc.^*		4,053,676
	43,400	Fiserv, Inc.^*		2,207,324
	109,100	Global Payments, Inc.		4,824,402
	143,100	Iron Mountain, Inc.^*		4,361,688
	8,500	NAVTEQ Corp.^*		662,745
	52,600	Salesforce.com, Inc.^*		2,699,432
	66,100	The Knot, Inc.^*		1,405,286
	223,200	Western Union Co.		4,680,504

				34,614,733

Technology Hardware & Equipment — 4.3%
	137,320	Amphenol Corp. Class A		5,459,843
	111,511	Cogent, Inc.^*^(a)		1,748,493
	80,400	Network Appliance, Inc.^*		2,163,564

				9,371,900

Telecommunication Services — 6.7%
	60,700	American Tower Corp. Class A^*		2,642,878
	61,300	Clearwire Corp. Class A^*^(a)		1,498,172
	99,200	Crown Castle International Corp.^*		4,030,496
	16,200	Leap Wireless International, Inc.^*		1,318,194
	86,800	MetroPCS Communications, Inc.^*		2,367,904
	75,900	NeuStar, Inc. Class A^*^(a)		2,602,611

				14,460,255

Transportation — 0.7%
	29,300	C.H. Robinson Worldwide, Inc.		1,590,697

TOTAL COMMON STOCKS			$	209,321,998

GOLDMAN SACHS VARIABLE INSURANCE TRUST GROWTH OPPORTUNITIES FUND

Schedule of Investments (continued)

September 30, 2007 (Unaudited)


Principal		Interest			Maturity
Amount		Rate			Date	Value
Short-Term Obligation — 3.9%
JPMorgan Chase Euro — Time Deposit
$	8,493,291		4.897	%	10/01/07	$	8,493,291

TOTAL INVESTMENTS BEFORE SECURITIES LENDING COLLATERAL						$	217,815,289


Shares		Interest Rate	Value
Securities Lending Collateral^(b) — 3.7%
Boston Global Investment Trust — Enhanced Portfolio
	8,032,650	5.410%	$	8,032,650

TOTAL INVESTMENTS — 104.0%			$	225,847,939

LIABILITIES IN EXCESS OF OTHER ASSETS — (4.0)%				(8,595,464	)

NET ASSETS — 100.0%			$	217,252,475

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.

(b) Variable rate security. Interest rate disclosed is that which is in effect at September 30, 2007.

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 EQUITY INDEX FUND

Schedule of Investments

September 30, 2007 (Unaudited)


Shares		Description	Value
Common Stocks — 98.0%
Automobiles & Components — 0.6%
	60,081	Ford Motor Co.^*	$	510,088
	16,700	General Motors Corp.		612,890
	7,600	Harley-Davidson, Inc.		351,196
	5,800	Johnson Controls, Inc.		685,038
	6,200	The Goodyear Tire & Rubber Co.^*		188,542

				2,347,754

Banks — 4.6%
	15,700	BB&T Corp.		634,123
	4,450	Comerica, Inc.		228,196
	5,400	Commerce Bancorp, Inc.		209,412
	17,498	Countrywide Financial Corp.		332,637
	28,300	Fannie Mae		1,720,923
	16,105	Fifth Third Bancorp		545,637
	3,400	First Horizon National Corp.		90,644
	19,100	Freddie Mac		1,127,091
	14,300	Hudson City Bancorp, Inc.		219,934
	10,949	Huntington Bancshares, Inc.		185,914
	11,600	KeyCorp		375,028
	2,200	M&T Bank Corp.		227,590
	7,600	Marshall & Ilsley Corp.		332,652
	2,600	MGIC Investment Corp.		84,006
	18,100	National City Corp.		454,129
	10,073	PNC Financial Services Group, Inc.		685,971
	20,425	Regions Financial Corp.		602,129
	10,585	Sovereign Bancorp, Inc.		180,368
	10,300	SunTrust Banks, Inc.		779,401
	9,300	Synovus Financial Corp.		260,865
	50,734	U.S. Bancorp		1,650,377
	55,691	Wachovia Corp.		2,792,904
	25,740	Washington Mutual, Inc.		908,880
	97,160	Wells Fargo & Co.		3,460,839
	3,100	Zions Bancorp		212,877

				18,302,527

Capital Goods — 9.1%
	20,900	3M Co.		1,955,822
	5,100	American Standard Companies, Inc.		181,662
	18,700	Caterpillar, Inc.		1,466,641
	5,300	Cooper Industries Ltd. Class A		270,777
	3,000	Cummins, Inc.		383,670
	7,000	Danaher Corp.		578,970
	6,400	Deere & Co.		949,888
	6,000	Dover Corp.		305,700
	4,300	Eaton Corp.		425,872
	23,200	Emerson Electric Co.		1,234,704
	2,500	Fluor Corp.		359,950
	11,700	General Dynamics Corp.		988,299
	297,700	General Electric Co.		12,324,780
	3,700	Goodrich Corp.		252,451
	21,675	Honeywell International, Inc.		1,289,012
	11,900	Illinois Tool Works, Inc.		709,716
	8,200	Ingersoll-Rand Co., Ltd. Class A		446,654
	5,300	ITT Corp.		360,029
	3,600	L-3 Communications Holdings, Inc.		367,704
	9,982	Lockheed Martin Corp.		1,082,947
	11,000	Masco Corp.		254,870
	10,092	Northrop Grumman Corp.		787,176
	7,295	PACCAR, Inc.		621,899
	3,500	Pall Corp.		136,150
	3,375	Parker Hannifin Corp.		377,426


Shares		Description	Value
Common Stocks — (continued)
Capital Goods — (continued)
	4,000	Precision Castparts Corp.	$	591,920
	12,800	Raytheon Co.		816,896
	4,600	Rockwell Automation, Inc.		319,746
	4,900	Rockwell Collins, Inc.		357,896
	3,000	Terex Corp.^*		267,060
	7,400	Textron, Inc.		460,354
	22,938	The Boeing Co.		2,408,261
	14,484	Tyco International Ltd.		642,221
	29,000	United Technologies Corp.		2,333,920
	2,100	W.W. Grainger, Inc.		191,499

				36,502,542

Commercial Services & Supplies — 0.5%
	7,600	Allied Waste Industries, Inc.^*		96,900
	3,000	Avery Dennison Corp.		171,060
	3,800	Cintas Corp.		140,980
	4,100	Equifax, Inc.		156,292
	4,000	Monster Worldwide, Inc.^*		136,240
	6,300	Pitney Bowes, Inc.		286,146
	6,300	R.R. Donnelley & Sons Co.		230,328
	4,700	Robert Half International, Inc.		140,342
	14,935	Waste Management, Inc.		563,647

				1,921,935

Consumer Durables & Apparel — 1.0%
	1,900	Black & Decker Corp.		158,270
	2,700	Brunswick Corp.		61,722
	3,600	Centex Corp.		95,652
	10,800	Coach, Inc.^*		510,516
	8,200	D.R. Horton, Inc.		105,042
	8,300	Eastman Kodak Co.		222,108
	4,400	Fortune Brands, Inc.		358,556
	1,900	Harman International Industries, Inc.		164,388
	4,750	Hasbro, Inc.		132,430
	3,200	Jones Apparel Group, Inc.		67,616
	2,400	KB HOME		60,144
	5,200	Leggett & Platt, Inc.		99,632
	4,000	Lennar Corp. Class A		90,600
	3,200	Liz Claiborne, Inc.		109,856
	11,512	Mattel, Inc.		270,072
	7,833	Newell Rubbermaid, Inc.		225,747
	11,000	NIKE, Inc. Class B		645,260
	1,800	Polo Ralph Lauren Corp.		139,950
	5,900	Pulte Homes, Inc.		80,299
	1,700	Snap-On, Inc.		84,218
	2,400	The Stanley Works		134,712
	2,500	VF Corp.		201,875
	2,259	Whirlpool Corp.		201,277

				4,219,942

Consumer Services — 1.7%
	4,000	Apollo Group, Inc. Class A^*		240,600
	12,800	Carnival Corp.		619,904
	4,200	Darden Restaurants, Inc.		175,812
	9,300	H&R Block, Inc.		196,974
	5,500	Harrah’s Entertainment, Inc.		478,115
	11,400	Hilton Hotels Corp.		529,986
	9,800	International Game Technology		422,380
	9,600	Marriott International, Inc. Class A		417,312
	34,565	McDonald’s Corp.		1,882,756
	21,700	Starbucks Corp.^*		568,540
	6,300	Starwood Hotels & Resorts Worldwide, Inc.		382,725
	2,500	Wendy’s International, Inc.		87,275
	5,226	Wyndham Worldwide Corp.		171,204
	15,340	Yum! Brands, Inc.		518,952

				6,692,535

Diversified Financials — 9.2%
	5,300	American Capital Strategies Ltd.		226,469
	34,600	American Express Co.		2,054,202
	6,780	Ameriprise Financial, Inc.		427,886

GOLDMAN SACHS VARIABLE INSURANCE TRUST EQUITY INDEX FUND

Schedule of Investments (continued)

September 30, 2007 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Diversified Financials — (continued)
	128,828	Bank of America Corp.	$	6,476,183
	32,815	Bank Of New York Mellon Corp.		1,448,454
	3,452	Bear Stearns Companies, Inc.		423,940
	11,973	Capital One Financial Corp.		795,366
	5,700	CIT Group, Inc.		229,140
	144,740	Citigroup, Inc.		6,755,016
	1,491	CME Group, Inc.		875,739
	13,517	Discover Financial Services^*		281,154
	12,000	E^Trade Financial Corp.^		156,720
	2,400	Federated Investors, Inc. Class B		95,280
	4,830	Franklin Resources, Inc.		615,825
	2,000	IntercontinentalExchange, Inc.^*		303,800
	4,300	Janus Capital Group, Inc.		121,604
	98,425	JPMorgan Chase & Co.		4,509,833
	3,900	Legg Mason, Inc.		328,731
	15,600	Lehman Brothers Holdings, Inc.		962,988
	4,600	Leucadia National Corp.		221,812
	25,300	Merrill Lynch & Co., Inc.		1,803,384
	6,600	Moody’s Corp.		332,640
	30,734	Morgan Stanley		1,936,242
	5,500	Northern Trust Corp.		364,485
	11,871	SLM Corp.		589,633
	11,600	State Street Corp.		790,656
	7,700	T. Rowe Price Group, Inc.		428,813
	27,200	The Charles Schwab Corp.		587,520
	11,800	The Goldman Sachs Group, Inc.		2,557,532

				36,701,047

Energy — 11.4%
	13,458	Anadarko Petroleum Corp.		723,367
	9,700	Apache Corp.		873,582
	9,280	Baker Hughes, Inc.		838,634
	8,300	BJ Services Co.		220,365
	12,000	Chesapeake Energy Corp.		423,120
	61,853	Chevron Corp.		5,788,204
	47,441	ConocoPhillips		4,163,896
	5,200	Consol Energy, Inc.		242,320
	13,000	Devon Energy Corp.		1,081,600
	20,530	El Paso Corp.		348,394
	4,400	ENSCO International, Inc.		246,840
	7,100	EOG Resources, Inc.		513,543
	161,160	Exxon Mobil Corp.		14,916,970
	25,744	Halliburton Co.		988,570
	7,900	Hess Corp.		525,587
	19,812	Marathon Oil Corp.		1,129,680
	5,400	Murphy Oil Corp.		377,406
	8,000	Nabors Industries Ltd.^*		246,160
	5,200	National Oilwell Varco, Inc.^*		751,400
	7,700	Noble Corp.		377,685
	24,200	Occidental Petroleum Corp.		1,550,736
	7,700	Peabody Energy Corp.		368,599
	3,100	Rowan Companies, Inc.		113,398
	34,600	Schlumberger Ltd.		3,633,000
	5,700	Smith International, Inc.		406,980
	18,506	Spectra Energy Corp.		453,027
	3,500	Sunoco, Inc.		247,730
	3,900	Tesoro Corp.		179,478
	17,400	The Williams Companies, Inc.		592,644
	8,427	Transocean, Inc.^*		952,672
	16,000	Valero Energy Corp.		1,074,880
	9,900	Weatherford International Ltd.^*		665,082
	11,000	XTO Energy, Inc.		680,240

				45,695,789

Food & Staples Retailing — 2.2%
	12,612	Costco Wholesale Corp.		773,998
	42,913	CVS/Caremark Corp.		1,700,642
	12,800	Safeway, Inc.		423,808
	5,973	SUPERVALU, Inc.		233,007


Shares		Description	Value
Common Stocks — (continued)
Food & Staples Retailing — (continued)
	18,100	Sysco Corp.	$	644,179
	20,400	The Kroger Co.		581,808
	29,100	Walgreen Co.		1,374,684
	69,600	Wal-Mart Stores, Inc.		3,038,040
	4,100	Whole Foods Market, Inc.		200,736

				8,970,902

Food, Beverage & Tobacco — 4.8%
	61,000	Altria Group, Inc.		4,241,330
	22,000	Anheuser-Busch Companies, Inc.		1,099,780
	19,049	Archer-Daniels-Midland Co.		630,141
	2,200	Brown-Forman Corp. Class B		164,802
	6,500	Campbell Soup Co.		240,500
	7,900	Coca-Cola Enterprises, Inc.		191,338
	14,600	ConAgra Foods, Inc.		381,498
	5,600	Constellation Brands, Inc. Class A^*		135,576
	3,700	Dean Foods Co.		94,646
	9,500	General Mills, Inc.		551,095
	9,500	H.J. Heinz Co.		438,900
	7,400	Kellogg Co.		414,400
	45,619	Kraft Foods, Inc.		1,574,312
	3,800	McCormick & Co., Inc.		136,686
	1,900	Molson Coors Brewing Co. Class B		189,373
	3,900	Pepsi Bottling Group, Inc.		144,963
	47,210	PepsiCo., Inc.		3,458,605
	5,000	Reynolds American, Inc.		317,950
	21,100	Sara Lee Corp.		352,159
	57,700	The Coca-Cola Co.		3,316,019
	5,000	The Hershey Co.		232,050
	7,500	Tyson Foods, Inc. Class A		133,875
	4,800	UST, Inc.		238,080
	6,350	Wm. Wrigley Jr. Co.		407,860

				19,085,938

Health Care Equipment & Services — 3.9%
	15,092	Aetna, Inc.		819,043
	5,300	AmerisourceBergen Corp.		240,249
	1,600	Bausch & Lomb, Inc.		102,400
	18,900	Baxter International, Inc.		1,063,692
	7,200	Becton, Dickinson and Co.		590,760
	38,306	Boston Scientific Corp.^*		534,369
	2,900	C.R. Bard, Inc.		255,751
	10,500	Cardinal Health, Inc.		656,565
	8,300	CIGNA Corp.		442,307
	4,400	Coventry Health Care, Inc.^*		273,724
	14,484	Covidien Ltd.^*		601,086
	7,600	Express Scripts, Inc.^*		424,232
	4,590	Hospira, Inc.^*		190,255
	5,000	Humana, Inc.^*		349,400
	5,900	IMS Health, Inc.		180,776
	3,400	Laboratory Corp. of America Holdings^*		265,982
	2,000	Manor Care, Inc.		128,800
	8,614	McKesson Corp.		506,417
	7,800	Medco Health Solutions, Inc.^*		705,042
	32,800	Medtronic, Inc.		1,850,248
	4,200	Patterson Cos., Inc.^*		162,162
	4,700	Quest Diagnostics, Inc.		271,519
	9,900	St. Jude Medical, Inc.^*		436,293
	6,800	Stryker Corp.		467,568
	13,250	Tenet Healthcare Corp.^*		44,520
	38,400	UnitedHealth Group, Inc.		1,859,712
	3,800	Varian Medical Systems, Inc.^*		159,182
	17,500	WellPoint, Inc.^*		1,381,100
	6,870	Zimmer Holdings, Inc.^*		556,401

				15,519,555

Household & Personal Products — 2.3%
	12,700	Avon Products, Inc.		476,631
	3,900	Clorox Co.		237,861
	14,900	Colgate-Palmolive Co.		1,062,668

GOLDMAN SACHS VARIABLE INSURANCE TRUST EQUITY INDEX FUND

Schedule of Investments (continued)

September 30, 2007 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Household & Personal Products — (continued)
	12,340	Kimberly-Clark Corp.	$	867,008
	90,778	Procter & Gamble Co.		6,385,325
	3,300	The Estee Lauder Companies, Inc. Class A		140,118

				9,169,611

Insurance — 4.4%
	9,500	ACE Ltd.		575,415
	14,300	Aflac, Inc.		815,672
	2,900	AMBAC Financial Group, Inc.		182,439
	74,579	American International Group, Inc.		5,045,269
	8,350	Aon Corp.		374,164
	2,800	Assurant, Inc.		149,800
	4,868	Cincinnati Financial Corp.		210,833
	12,400	Genworth Financial, Inc.		381,052
	9,300	Hartford Financial Services Group, Inc.		860,715
	7,960	Lincoln National Corp.		525,121
	13,000	Loews Corp.		628,550
	15,900	Marsh & McLennan Companies, Inc.		405,450
	3,750	MBIA, Inc.		228,938
	21,500	MetLife, Inc.		1,499,195
	7,900	Principal Financial Group, Inc.		498,411
	13,500	Prudential Financial, Inc.		1,317,330
	3,000	SAFECO Corp.		183,660
	16,838	The Allstate Corp.		962,965
	11,300	The Chubb Corp.		606,132
	21,600	The Progressive Corp.		419,256
	19,390	The Travelers Companies, Inc.		976,093
	2,800	Torchmark Corp.		174,496
	10,218	Unum Group		250,034
	5,500	XL Capital Ltd. Class A		435,600

				17,706,590

Materials — 3.1%
	6,200	Air Products & Chemicals, Inc.		606,112
	25,308	Alcoa, Inc.		990,049
	2,951	Allegheny Technologies, Inc.		324,462
	1,500	Ashland, Inc.		90,315
	2,900	Ball Corp.		155,875
	2,800	Bemis Co., Inc.		81,508
	27,000	E.I. du Pont de Nemours & Co.		1,338,120
	2,400	Eastman Chemical Co.		160,152
	5,200	Ecolab, Inc.		245,440
	10,855	Freeport-McMoRan Copper & Gold, Inc.		1,138,581
	3,500	Hercules, Inc.		73,570
	2,200	International Flavors & Fragrances, Inc.		116,292
	12,540	International Paper Co.		449,810
	5,298	MeadWestvaco Corp.		156,450
	15,754	Monsanto Co.		1,350,748
	13,011	Newmont Mining Corp.		581,982
	8,200	Nucor Corp.		487,654
	3,900	Pactiv Corp.^*		111,774
	4,700	PPG Industries, Inc.		355,085
	9,300	Praxair, Inc.		778,968
	4,075	Rohm & Haas Co.		226,855
	4,716	Sealed Air Corp.		120,541
	3,800	Sigma-Aldrich Corp.		185,212
	3,100	Temple-Inland, Inc.		163,153
	27,577	The Dow Chemical Co.		1,187,466
	3,420	United States Steel Corp.		362,315
	2,700	Vulcan Materials Co.		240,705
	6,392	Weyerhaeuser Co.		462,141

				12,541,335

Media — 3.0%
	19,664	CBS Corp. Class B		619,416
	14,600	Clear Channel Communications, Inc.		546,624
	89,517	Comcast Corp. Class A^*		2,164,521
	1,900	Dow Jones & Co., Inc.		113,430
	2,500	E.W. Scripps Co. Class A		105,000
	6,900	Gannett Co., Inc.		301,530


Shares		Description	Value
Common Stocks — (continued)
Media — (continued)
	13,971	Interpublic Group of Cos., Inc.^*	$	145,019
	1,100	Meredith Corp.		63,030
	4,200	New York Times Co. Class A^(a)		82,992
	67,900	News Corp. Class A		1,493,121
	9,500	Omnicom Group, Inc.		456,855
	22,200	The DIRECTV Group, Inc.^*		539,016
	9,900	The McGraw-Hill Companies, Inc.		504,009
	56,329	The Walt Disney Co.		1,937,155
	108,198	Time Warner, Inc.		1,986,515
	2,379	Tribune Co.		64,994
	20,264	Viacom, Inc. Class B^*		789,688

				11,912,915

Pharmaceuticals, Biotechnology & Life Sciences — 7.5%
	44,900	Abbott Laboratories		2,407,538
	8,900	Allergan, Inc.		573,783
	31,708	Amgen, Inc.^*		1,793,722
	5,200	Applera Corporation — Applied Biosystems Group		180,128
	3,100	Barr Pharmaceuticals, Inc.^*		176,421
	8,285	Biogen Idec, Inc.^*		549,544
	56,900	Bristol-Myers Squibb Co.		1,639,858
	11,000	Celgene Corp.^*		784,410
	28,700	Eli Lilly & Co.		1,633,891
	9,400	Forest Laboratories, Inc.^*		350,526
	7,600	Genzyme Corp.^*		470,896
	27,300	Gilead Sciences, Inc.^*		1,115,751
	84,060	Johnson & Johnson		5,522,742
	6,966	King Pharmaceuticals, Inc.^*		81,641
	63,200	Merck & Co., Inc.		3,266,808
	1,500	Millipore Corp.^*		113,700
	7,500	Mylan Laboratories, Inc.		119,700
	3,300	PerkinElmer, Inc.		96,393
	201,484	Pfizer, Inc.		4,922,254
	46,900	Schering-Plough Corp.		1,483,447
	12,300	Thermo Fisher Scientific, Inc.^*		709,956
	2,900	Waters Corp.^*		194,068
	2,900	Watson Pharmaceuticals, Inc.^*		93,960
	39,200	Wyeth		1,746,360

				30,027,497

Real Estate — 1.2%
	2,700	Apartment Investment & Management Co. (REIT)		121,851
	6,500	Archstone-Smith Trust (REIT)		390,910
	2,300	Avalonbay Communities, Inc. (REIT)		271,538
	3,500	Boston Properties, Inc. (REIT)		363,650
	5,300	CB Richard Ellis Group, Inc. Class A^*		147,552
	3,700	Developers Diversified Realty Corp. (REIT)		206,719
	8,400	Equity Residential (REIT)		355,824
	7,000	General Growth Properties, Inc. (REIT)		375,340
	15,200	Host Hotels & Resorts, Inc. (REIT)		341,088
	7,200	Kimco Realty Corp. (REIT)		325,512
	5,200	Plum Creek Timber Co., Inc. (REIT)		232,752
	7,500	ProLogis (REIT)		497,625
	3,500	Public Storage, Inc. (REIT)		275,275
	6,400	Simon Property Group, Inc. (REIT)		640,000
	3,800	Vornado Realty Trust (REIT)		415,530

				4,961,166

Retailing — 2.8%
	2,600	Abercrombie & Fitch Co.		209,820
	8,800	Amazon.com, Inc.^*		819,720
	3,972	AutoNation, Inc.^*		70,384
	1,400	AutoZone, Inc.^*		162,596
	8,000	Bed Bath & Beyond, Inc.^*		272,960
	11,950	Best Buy Co., Inc.		549,939
	2,900	Big Lots, Inc.^*		86,536
	4,000	Circuit City Stores, Inc.		31,640
	1,800	Dillards, Inc. Class A		39,294
	4,100	Family Dollar Stores, Inc.		108,896
	5,050	Genuine Parts Co.		252,500

GOLDMAN SACHS VARIABLE INSURANCE TRUST EQUITY INDEX FUND

Schedule of Investments (continued)

September 30, 2007 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Retailing — (continued)
	5,300	IAC/InterActiveCorp^*	$	157,251
	6,500	J.C. Penney Co., Inc.		411,905
	9,400	Kohl’s Corp.^*		538,902
	10,000	Limited Brands, Inc.		228,900
	42,700	Lowe’s Companies, Inc.		1,196,454
	12,334	Macy’s, Inc.		398,635
	5,600	Nordstrom, Inc.		262,584
	7,800	Office Depot, Inc.^*		160,836
	2,000	OfficeMax, Inc.		68,540
	3,700	RadioShack Corp.		76,442
	2,200	Sears Holdings Corp.^*		279,840
	21,100	Staples, Inc.		453,439
	24,800	Target Corp.		1,576,536
	15,050	The Gap, Inc.		277,522
	49,873	The Home Depot, Inc.		1,617,880
	3,200	The Sherwin-Williams Co.		210,272
	13,100	The TJX Companies, Inc.		380,817
	4,100	Tiffany & Co.		214,635

				11,115,675

Semiconductors & Semiconductor Equipment — 2.7%
	15,900	Advanced Micro Devices, Inc.^* ^(a)		209,880
	10,200	Altera Corp.		245,616
	9,400	Analog Devices, Inc.		339,904
	40,100	Applied Materials, Inc.		830,070
	13,550	Broadcom Corp. Class A^*		493,762
	169,800	Intel Corp.		4,391,028
	5,600	KLA-Tencor Corp.		312,368
	6,300	Linear Technology Corp.		220,437
	21,000	LSI Logic Corp.^*		155,820
	500	Maxim Integrated Products, Inc.		14,675
	6,500	MEMC Electronic Materials, Inc.^*		382,590
	6,300	Microchip Technology, Inc.		228,816
	22,600	Micron Technology, Inc.^*		250,860
	7,100	National Semiconductor Corp.		192,552
	3,900	Novellus Systems, Inc.^*		106,314
	16,050	NVIDIA Corp.^*		581,652
	5,000	Teradyne, Inc.^*		69,000
	41,700	Texas Instruments, Inc.		1,525,803
	8,700	Xilinx, Inc.		227,418

				10,778,565

Software & Services — 5.6%
	17,100	Adobe Systems, Inc.^*		746,586
	2,900	Affiliated Computer Services, Inc. Class A^*		145,696
	4,900	Akamai Technologies, Inc.^*		140,777
	6,700	Autodesk, Inc.^*		334,799
	15,300	Automatic Data Processing, Inc.		702,729
	5,700	BMC Software, Inc.^*		178,011
	11,904	CA, Inc.		306,171
	5,100	Citrix Systems, Inc.^*		205,632
	4,200	Cognizant Technology Solutions Corp. Class A^*		335,034
	5,000	Computer Sciences Corp.^*		279,500
	9,400	Compuware Corp.^*		75,388
	4,000	Convergys Corp.^*		69,440
	33,100	eBay, Inc.^*		1,291,562
	8,900	Electronic Arts, Inc.^*		498,311
	15,000	Electronic Data Systems Corp.		327,600
	4,700	Fidelity National Information Services, Inc.		208,539
	4,750	Fiserv, Inc.^*		241,585
	6,690	Google, Inc. Class A^*		3,795,036
	9,900	Intuit, Inc.^*		299,970
	234,600	Microsoft Corp.		6,911,316
	9,600	Novell, Inc.^*		73,344
	115,320	Oracle Corp.^*		2,496,678
	9,950	Paychex, Inc.		407,950
	25,918	Symantec Corp.^*		502,291
	22,749	The Western Union Co.		477,047
	10,000	Unisys Corp.^*		66,200


Shares		Description	Value
Common Stocks — (continued)
Software & Services — (continued)
	7,200	VeriSign, Inc.^*	$	242,928
	38,900	Yahoo!, Inc.^*		1,044,076

				22,404,196

Technology Hardware & Equipment — 7.6%
	11,524	Agilent Technologies, Inc.^*		425,005
	25,300	Apple, Inc.^*		3,884,562
	12,931	Avaya, Inc.^*		219,310
	2,385	Ciena Corp.^*		90,821
	177,200	Cisco Systems, Inc.^*		5,867,092
	45,600	Corning, Inc.		1,124,040
	66,300	Dell, Inc.^*		1,829,880
	61,300	EMC Corp.^*		1,275,040
	74,898	Hewlett-Packard Co.		3,729,171
	39,600	International Business Machines Corp.		4,664,880
	5,000	Jabil Circuit, Inc.		114,200
	6,125	JDS Uniphase Corp.^*		91,630
	15,100	Juniper Networks, Inc.^*		552,811
	2,800	Lexmark International, Inc. Class A^*		116,284
	4,325	Molex, Inc.		116,472
	67,235	Motorola, Inc.		1,245,865
	5,300	NCR Corp.^*		263,940
	10,900	Network Appliance, Inc.^*		293,319
	4,400	QLogic Corp.^*		59,180
	48,500	QUALCOMM, Inc.		2,049,610
	6,600	SanDisk Corp.^*		363,660
	24,500	Solectron Corp.^*		95,550
	104,200	Sun Microsystems, Inc.^*		584,562
	2,200	Tektronix, Inc.		61,028
	12,400	Tellabs, Inc.^*		118,048
	14,384	Tyco Electronics Ltd.		509,625
	27,200	Xerox Corp.^*		471,648

				30,217,233

Telecommunication Services — 3.7%
	10,100	ALLTEL Corp.		703,768
	177,437	AT&T, Inc.		7,507,360
	3,300	CenturyTel, Inc.		152,526
	9,900	Citizens Communications Co.		141,768
	4,340	Embarq Corp.		241,304
	45,663	Qwest Communications International, Inc.^*		418,273
	82,310	Sprint Nextel Corp.		1,563,890
	84,130	Verizon Communications, Inc.		3,725,276
	13,681	Windstream Corp.		193,176

				14,647,341

Transportation — 1.7%
	8,652	Burlington Northern Santa Fe Corp.		702,283
	5,000	C.H. Robinson Worldwide, Inc.		271,450
	12,600	CSX Corp.		538,398
	9,000	FedEx Corp.		942,750
	11,300	Norfolk Southern Corp.		586,583
	1,700	Ryder System, Inc.		83,300
	22,918	Southwest Airlines Co.		339,186
	7,900	Union Pacific Corp.		893,174
	30,700	United Parcel Service, Inc. Class B		2,305,570

				6,662,694

Utilities — 3.4%
	19,500	AES Corp.^*		390,780
	4,700	Allegheny Energy, Inc.^*		245,622
	5,900	Ameren Corp.		309,750
	11,440	American Electric Power Co., Inc.		527,155
	9,698	CenterPoint Energy, Inc.		155,459
	6,400	CMS Energy Corp.		107,648
	7,900	Consolidated Edison, Inc.		365,770
	5,150	Constellation Energy Group, Inc.		441,819
	8,384	Dominion Resources, Inc.		706,771
	5,000	DTE Energy Co.		242,200
	36,813	Duke Energy Corp.		688,035
	11,397	Dynegy, Inc. Class A^*		105,308

GOLDMAN SACHS VARIABLE INSURANCE TRUST EQUITY INDEX FUND

Schedule of Investments (continued)

September 30, 2007 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Utilities — (continued)
	9,600	Edison International	$	532,320
	5,700	Entergy Corp.		617,253
	19,600	Exelon Corp.		1,477,056
	8,800	FirstEnergy Corp.		557,392
	11,700	FPL Group, Inc.		712,296
	2,331	Integrys Energy Group, Inc.		119,417
	1,400	Nicor, Inc.		60,060
	7,600	NiSource, Inc.		145,464
	10,300	PG&E Corp.		492,340
	3,000	Pinnacle West Capital Corp.		118,530
	11,200	PPL Corp.		518,560
	7,477	Progress Energy, Inc.		350,297
	7,400	Public Service Enterprise Group, Inc.		651,126
	4,900	Questar Corp.		257,397
	7,513	Sempra Energy		436,656
	22,100	Southern Co.		801,788
	6,200	TECO Energy, Inc.		101,866
	13,380	TXU Corp.		916,129
	11,810	Xcel Energy, Inc.		254,387

				13,406,651

TOTAL COMMON STOCKS			$	391,511,935

Expiration

Units

Description

Month

Value

Warrant^* — 0.0%

1,845

Raytheon Co. (Capital Goods)

06/11

50,959


Principal	Interest			Maturity
Amount	Rate			Date		Value
U.S. Government Obligation — 0.1%
United States Treasury Bill
$550,000		4.194	%	12/06/07	$	546,291


Short-Term Obligation — 1.7%
JPMorgan Chase Euro — Time Deposit
$6,473,401		4.897	%	10/01/07	$	6,473,401

TOTAL INVESTMENTS BEFORE SECURITIES LENDING COLLATERAL					$	398,582,586


Shares		Interest Rate	Value
Securities Lending Collateral^(b) — 0.1%
Boston Global Investment Trust — Enhanced Portfolio
	283,275	5.410%	$	283,275

TOTAL INVESTMENTS — 99.9%			$	398,865,861

OTHER ASSETS IN EXCESS OF LIABILITIES — 0.1%				493,856

NET ASSETS — 100.0%			$	399,359,717

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.

(b)Variable rate security. Interest rate disclosed is that which is in effect at September 30, 2007.

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 EQUITY INDEX FUND

Schedule of Investments (continued)

September 30, 2007 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FUTURES CONTRACTS — At September 30, 2007, the following future contracts were open:

Number of

Settlement

Unrealized

Type

Contracts Long

Month

Notional Value

Gain

S & P 500 Index

111

December 2007

8,535,900

266,150

TAX INFORMATION — At September 30, 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	$	297,436,634

Gross unrealized gain		109,626,327
Gross unrealized loss		(8,197,100	)

Net unrealized security gain	$	101,429,227

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments

September 30, 2007 (Unaudited)


Principal		Interest			Maturity
Amount		Rate			Date	Value
Corporate Bonds — 20.4%
Banks — 5.1%
ANZ Capital Trust^(a)
$	500,000		4.484	%	12/31/49	$	486,740
Asian Development Bank
	5,000,000		1.000		10/01/15		3,646,635
Greater Bay Bancorp Series B
	500,000		5.250		03/31/08		499,712
ING Capital Funding Trust III^(b)
	250,000		8.439		12/29/49		269,685
JPMorgan Chase Bank NA
	400,000		6.000		10/01/17		397,654
MUFG Capital Finance 1 Ltd.^(b)
	525,000		6.346		07/29/49		496,799
Nordea Bank Sweden AB^(a)^(b)
	2,100,000		8.950		11/29/49		2,247,951
Popular North America, Inc.
	1,425,000		5.650		04/15/09		1,421,351
Resona Bank Ltd.^(a)^(b)
	1,250,000		5.850		09/29/49		1,175,614
Resona Preferred Global Securities Cayman Ltd.^(a)^(b)
	325,000		7.191		12/29/49		326,144
Royal Bank of Scotland Group PLC ADR
	400,000		9.118		12/31/49		428,304
Tokai Preferred Capital Co. LLC^(a)^(b)
	1,250,000		9.980		12/29/49		1,294,491
VTB Capital SA (Vneshtorgbank)^(a)^(b)
	980,000		5.956		08/01/08		970,200

							13,661,280

Brokerage — 1.0%
Bear Stearns Companies, Inc.
	500,000		6.400		10/02/17		496,846
Lehman Brothers Holdings, Inc.
	550,000		6.200		09/26/14		556,678
	450,000		6.500		07/19/17		454,595
Lehman Brothers Holdings Capital Trust V^(b)
	250,000		5.857		11/29/49		238,179
Merrill Lynch & Co., Inc.
	325,000		6.400		08/28/17		335,332
Morgan Stanley
	650,000		5.750		08/31/12		657,684

							2,739,314

Electric — 2.5%
Arizona Public Service Co.
	475,000		6.375		10/15/11		486,899
	350,000		6.250		08/01/16		351,689
CenterPoint Energy, Inc. Series B
	1,000,000		7.250		09/01/10		1,050,856
Commonwealth Edison Co.
	250,000		5.875		02/01/33		231,154
	275,000		5.900		03/15/36		254,249
MidAmerican Energy Holdings Co.
	1,250,000		7.520		09/15/08		1,281,056
	750,000		6.125		04/01/36		727,508
Pacific Gas & Electric Co.
	1,800,000		6.050		03/01/34		1,757,236
Progress Energy, Inc.
	200,000		5.625		01/15/16		194,798
	350,000		7.000		10/30/31		369,624

							6,705,069

Energy — 0.5%
Canadian Natural Resources Ltd.
	225,000		5.700		05/15/17		218,542
	50,000		5.850		02/01/35		45,781
	400,000		6.500		02/15/37		398,708
	75,000		6.250		03/15/38		72,101
Kerr McGee Corp.
	550,000		6.950		07/01/24		573,008

							1,308,140


Principal		Interest		Maturity
Amount		Rate		Date	Value
Corporate Bonds — (continued)
Entertainment — 0.5%
Time Warner Cable, Inc.^(a)
$	1,000,000		5.400	07/02/12	$	986,693
Time Warner Entertainment Co. LP
	225,000		8.375	03/15/23		261,304

						1,247,997

Environmental — 0.3%
Waste Management, Inc.
	750,000		7.375	08/01/10		794,517

Financial Companies — 3.0%
American General Finance Corp.
	275,000		5.900	09/15/12		276,438
Farmer Mac Guaranteed Notes Trust Series 2006-2^(a)
	4,400,000		5.500	07/15/11		4,533,641
GATX Financial Corp.
	1,000,000		8.875	06/01/09		1,061,205
PHH Corp.
	1,225,000		6.000	03/01/08		1,229,007
Residential Capital LLC
	1,000,000		7.125	11/21/08		895,000
	100,000		7.500	04/17/13		80,750

						8,076,041

Food & Beverage — 0.1%
Kraft Foods, Inc.
	275,000		6.500	08/11/17		284,707

Life Insurance — 0.2%
American International Group, Inc.
	225,000		6.250	03/15/37		211,115
Phoenix Life Insurance Co.^(a)
	450,000		7.150	12/15/34		468,196

						679,311

Manufacturing — 0.1%
Tyco Electronics Group SA^(a)
	225,000		6.000	10/01/12		227,200

Media — 1.0%
Comcast Corp.
	625,000		6.450	03/15/37		615,733
Cox Communications, Inc.
	1,750,000		4.625	01/15/10		1,724,915
Viacom, Inc.
	300,000		5.750	04/30/11		301,219

						2,641,867

Pipelines — 1.1%
Boardwalk Pipelines LP
	575,000		5.875	11/15/16		566,922
Energy Transfer Partners LP
	275,000		5.650	08/01/12		271,311
	725,000		5.950	02/01/15		702,908
Enterprise Products Operating LP Series B
	450,000		5.600	10/15/14		437,848
	325,000		5.000	03/01/15		303,417
ONEOK Partners LP
	325,000		6.650	10/01/36		319,505
	300,000		6.850	10/15/37		303,661

						2,905,572

Property/Casualty Insurance — 1.7%
AON Capital Trust A
	500,000		8.205	01/01/27		518,182
Arch Capital Group Ltd.
	475,000		7.350	05/01/34		498,797
Aspen Insurance Holdings Ltd.
	350,000		6.000	08/15/14		334,878
Chubb Corp.^(b)
	525,000		6.375	03/29/37		519,387
Endurance Specialty Holdings Ltd.
	375,000		6.150	10/15/15		359,358
Marsh & McClennan Companies, Inc.
	600,000		5.150	09/15/10		600,883

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments (continued)

September 30, 2007 (Unaudited)


Principal		Interest			Maturity
Amount		Rate			Date	Value
Corporate Bonds — (continued)
Property/Casualty Insurance — (continued)
Swiss Reinsurance Capital I LP^(a)^(b)
$	600,000		6.854	%	12/31/49	$	604,801
White Mountains Reinsurance Group Ltd.^(a)
	600,000		6.375		03/20/17		591,732
ZFS Finance USA Trust^(a)^(b)
	675,000		5.875		05/09/32		652,502

							4,680,520

REITs — 0.6%
Highwoods Properties, Inc.
	425,000		5.850		03/15/17		402,744
iStar Financial, Inc. Series B
	1,300,000		5.700		03/01/14		1,194,136

							1,596,880

Retailers — 0.2%
CVS/Caremark Corp.
	525,000		5.750		06/01/17		512,427

Tobacco — 0.1%
Altria Group, Inc.
	125,000		7.750		01/15/27		153,325

Wireless Telecommunications — 1.3%
America Movil SA De CV
	1,000,000		5.500		03/01/14		983,720
New Cingular Wireless Services, Inc.
	675,000		7.875		03/01/11		728,157
	500,000		8.750		03/01/31		628,349
Nextel Communications, Inc. Series E
	900,000		6.875		10/31/13		909,000
Sprint Capital Corp.
	25,000		6.875		11/15/28		24,164
Telecom Italia Capital SA
	300,000		4.875		10/01/10		296,549

							3,569,939

Wirelines Telecommunications — 1.1%
Deutsche Telekom International Finance BV
	700,000		8.250		06/15/30		857,312
GTE Corp.
	750,000		7.510		04/01/09		770,616
Telecom Italia Capital SA
	225,000		4.000		01/15/10		218,783
	800,000		4.950		09/30/14		755,770
Telefonica Europe BV
	300,000		7.750		09/15/10		320,319

							2,922,800

TOTAL CORPORATE BONDS						$	54,706,906


Mortgage-Backed Obligations — 67.8%
Adjustable Rate FHLMC^(b) — 2.1%
	2,229,949		4.846		09/01/35		2,207,830
	3,430,239		4.740		10/01/35		3,341,163

							5,548,993
Adjustable Rate FNMA^(b) — 3.9%
	1,696,632		4.446		05/01/33		1,694,803
	1,380,341		3.846		10/01/33		1,379,598
	2,301,434		4.564		05/01/35		2,319,045
	2,704,919		5.366		09/01/35		2,724,323
	2,359,492		5.087		12/01/35		2,348,534

							10,466,303

Adjustable Rate Non-Agency^(b) — 26.1%
Adjustable Rate Mortgage Trust Series 2004-5, Class 2A1
	44,212		4.991		04/25/35		43,731
Banc of America Commercial Mortgage, Inc. Series 2005-6, Class A4
	3,000,000		5.353		09/10/47		2,954,404
Bear Stearns Adjustable Rate Mortgage Trust Series 2004-1, Class 21A1
	76,915		4.453		04/25/34		76,002


Principal		Interest			Maturity
Amount		Rate			Date		Value
Mortgage-Backed Obligations — (continued)
Adjustable Rate Non-Agency^(b) — (continued)
Bear Stearns Adjustable Rate Mortgage Trust Series 2005-3, Class 2A1
$	127,624		5.081	%	06/25/35	$		126,106
Bear Stearns Alt-A Trust II Series 2007-1, Class 1A1
	2,941,301		6.355		09/25/47			2,924,407
Bear Stearns Mortgage Funding Trust Series 2006-AR1, Class 2A1
	2,207,906		5.351		08/25/36			2,148,149
Chase Mortgage Finance Corp. Series 2007-A1, Class 2A1
	2,722,319		4.140		02/25/37			2,693,190
Countrywide Alternative Loan Trust Series 2005-38, Class A1
	396,514		6.483		09/25/35			394,245
Countrywide Alternative Loan Trust Series 2005-59, Class 1A2A
	901,563		5.876		11/20/35			879,740
Countrywide Alternative Loan Trust Series 2006-OA10, Class 4A1
	2,158,391		5.321		08/25/46			2,102,711
Countrywide Alternative Loan Trust Series 2006-OA16, Class A2
	3,998,707		5.321		10/25/46			3,886,116
Countrywide Home Loan Mortgage Pass-Through Trust Series 2003-52, Class A1
	313,649		4.498		02/19/34			314,242
Countrywide Home Loan Mortgage Pass-Through Trust Series 2004-HYB6, Class A2
	35,103		4.560		11/20/34			34,589
Countrywide Home Loan Mortgage Pass-Through Trust Series 2005-HYB4, Class 2A1
	181,391		4.899		08/20/35			178,730
Downey Savings & Loan Association Mortgage Loan Trust Series 2006-AR2, Class 2A1A
	1,743,938		5.703		11/19/37			1,706,669
GE Capital Commercial Mortgage Corp. Series 2005-C4, Class A4
	3,000,000		5.512		11/10/45			2,984,206
Harborview Mortgage Loan Trust Series 2005-14, Class 5A1A
	758,155		5.752		12/19/35			746,790
Indymac Index Mortgage Loan Trust Series 2005-AR15, Class A1
	700,443		5.446		09/25/35			688,416
Indymac Index Mortgage Loan Trust Series 2006-AR2, Class 1A1A
	1,587,895		5.351		04/25/46			1,538,553
Indymac Index Mortgage Loan Trust Series 2006-AR4, Class A1A
	1,631,096		5.341		05/25/46			1,593,097
J.P. Morgan Mortgage Trust Series 2007-A1, Class 1A1
	936,222		4.200		07/25/35			921,265
J.P. Morgan Mortgage Trust Series 2007-A1, Class 2A2
	895,328		4.760		07/25/35			886,960
J.P. Morgan Mortgage Trust Series 2007-A1, Class 5A2
	896,642		4.770		07/25/35			887,581
Lehman XS Trust Series 2007-16N, Class 2A2
	998,061		5.981		09/25/47			986,677
Luminent Mortgage Trust Series 2006-2, Class A1A
	1,558,301		5.331		02/25/46			1,529,746
Luminent Mortgage Trust Series 2006-5, Class A1A
	723,108		5.321		07/25/36			705,083
Mastr Adjustable Rate Mortgages Trust Series 2006-OA2, Class 4A1A
	887,598		5.855		12/25/46			866,923

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments (continued)

September 30, 2007 (Unaudited)


Principal		Interest			Maturity
Amount		Rate			Date		Value
Mortgage-Backed Obligations — (continued)
Adjustable Rate Non-Agency^(b) — (continued)
Merrill Lynch Mortgage Investors, Inc. Series 2005-A9, Class 2A1C
$	3,000,000		5.149	%	12/25/35	$		2,985,532
Morgan Stanley Capital I Series 2006-T21, Class A4
	3,500,000		5.162		10/12/52			3,425,477
Morgan Stanley Capital I Series 2007-T25, Class A3
	2,000,000		5.514		11/12/49			1,985,491
Residential Accredit Loans, Inc. Series 2005-QO5, Class A1
	1,208,575		5.983		01/25/46			1,184,603
Residential Accredit Loans, Inc. Series 2007-QH9, Class A1
	2,999,410		6.550		08/25/37			3,009,623
Residential Funding Mortgage Securities I Series 2005-SA4, Class 2A2
	799,313		5.186		09/25/35			783,667
Structured Adjustable Rate Mortgage Loan Trust Series 2004-5, Class 3A1
	81,587		4.380		05/25/34			80,939
Structured Adjustable Rate Mortgage Loan Trust Series 2004-12, Class 3A2
	36,438		5.250		09/25/34			36,322
Structured Adjustable Rate Mortgage Loan Trust Series 2004-16, Class 3A1
	133,016		5.450		11/25/34			132,935
Thornburg Mortgage Securities Trust Series 2006-4, Class A2B
	2,606,401		5.251		07/25/36			2,545,679
Thornburg Mortgage Securities Trust Series 2006-5, Class A1
	2,397,042		5.251		10/25/46			2,332,994
Wachovia Bank Commercial Mortgage Trust Series 2005-C21, Class A4
	3,000,000		5.385		10/15/44			2,966,635
Washington Mutual Alternative Mortgage Pass-Through Certificates Series 2006-AR9, Class 2A
	2,683,056		5.823		11/25/46			2,619,980
Washington Mutual Mortgage Pass-Through Certificates Series 2004-AR3, Class A2
	57,665		4.243		06/25/34			56,779
Washington Mutual Mortgage Pass-Through Certificates Series 2005-AR10, Class 1A3
	2,000,000		4.836		09/25/35			1,975,159
Washington Mutual Mortgage Pass-Through Certificates Series 2006-AR11, Class 1A
	2,978,067		5.943		09/25/46			2,916,316
Washington Mutual Mortgage Pass-Through Certificates Series 2006-AR11, Class 3A1A
	846,255		5.903		09/25/46			827,835
Washington Mutual Mortgage Pass-Through Certificates Series 2007-OA2, Class 1A
	885,253		5.683		03/25/47			858,972
Wells Fargo Mortgage Backed Securities Trust Series 2005-AR6, Class A1
	3,091,494		5.040		04/25/35			2,986,985
Wells Fargo Mortgage Backed Securities Trust Series 2006-AR10, Class 5A3
	1,501,605		5.607		07/25/36			1,496,924

								70,007,175

Commercial Mortgage Backed Securities — 7.3%
Sequential Fixed Rate
Banc of America Commercial Mortgage, Inc. Series 2006-5, Class A4
	1,500,000		5.414		09/10/47			1,485,431
Bear Stearns Commercial Mortgage Securities Series 1999-WF2, Class A2
	2,658,045		7.080		07/15/31			2,712,932


Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
Commercial Mortgage Backed Securities (continued)
Sequential Fixed Rate (continued)
Bear Stearns Commercial Mortgage Securities Series 2006-T24, Class A4
$	1,750,000		5.537	%	10/12/41	$	1,746,677
Citigroup Commercial Mortgage Trust Series 2006-C5, Class A4
	3,000,000		5.431		10/15/49		2,968,788
GE Capital Commercial Mortgage Corp. Series 2002-1A, Class A3
	2,700,000		6.269		12/10/35		2,786,762
J.P. Morgan Chase Commercial Mortgage Securities Corp. Series 2005-LDP2, Class A4
	1,500,000		4.738		07/15/42		1,428,223
J.P. Morgan Chase Commercial Mortgage Securities Corp. Series 2006-CB17, Class A4
	2,000,000		5.429		12/12/43		1,977,366
LB-UBS Commercial Mortgage Trust Series 2006-C1, Class A4
	2,000,000		5.156		02/15/31		1,954,544
Morgan Stanley Dean Witter Capital I Series 2003-TOP9, Class A2
	2,700,000		4.740		11/13/36		2,614,596

TOTAL COMMERCIAL MORTGAGE BACKED SECURITIES						$	19,675,319

Collateralized Mortgage Obligations — 1.4%
Interest Only^(b)^(c)^(e) — 0.3%
FHLMC Series 2005-3038, Class XA
	73,654		0.000		09/15/35		75,973
FHLMC Series 2006-3167, Class X
	250,777		0.000		06/15/36		245,466
FHLMC Series 2006-3167, Class XI
	882,625		0.000		10/15/35		25,435
FHLMC Series 2007-3275, Class UF
	94,737		0.000		02/15/37		124,520
FNMA Series 2004-71, Class DI
	634,367		0.000		04/25/34		24,877
FNMA Series 2006-81, Class LF
	90,470		0.000		09/25/36		97,029
FNMA Series 2007-56, Class GY
	97,062		0.000		06/25/37		117,394

							710,694

Planned Amortization Class — 1.1%
FNMA Series 2003-92, Class PD
	3,000,000		4.500		03/25/17		2,940,255

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS						$	3,650,949

FHLMC — 8.3%
	88,555		7.000		08/01/10	$	90,665
	151		7.000		09/01/11		155
	15,202		7.000		11/01/11		15,652
	25,581		7.000		12/01/11		26,339
	107,200		7.500		06/01/15		111,476
	300,500		7.000		07/01/16		311,128
	1,548,643		5.500		02/01/18		1,548,474
	113,525		5.500		04/01/18		113,513
	196,535		4.500		05/01/18		189,832
	47,541		4.500		06/01/18		45,919
	186,372		4.500		09/01/18		180,016
	206,044		5.500		09/01/18		206,022
	137,638		4.500		10/01/18		132,944
	219		7.500		10/01/18		220
	141,899		4.500		11/01/18		137,059
	988,570		4.500		12/01/18		954,855
	3,376,705		5.000		12/01/18		3,318,617
	51,398		4.500		01/01/19		49,645
	103,200		4.500		03/01/19		99,585
	4,244,022		4.000		06/01/19		3,992,476
	25,220		9.500		08/01/19		27,165
	4,663,605		5.000		11/01/19		4,578,349
	210,444		5.000		02/01/20		206,301

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments (continued)

September 30, 2007 (Unaudited)


Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
FHLMC — (continued)
$	1,077		9.500	%	08/01/20	$	1,163
	375,467		6.500		10/01/20		386,254
	24,022		9.500		02/01/21		25,563
	46,537		6.500		01/01/24		47,841
	254,857		6.500		12/01/27		261,901
	140,471		6.000		03/01/29		141,357
	1,869		6.000		04/01/29		1,881
	76,037		7.500		12/01/29		79,733
	2,165		7.500		11/01/30		2,269
	486,395		6.500		12/01/31		498,274
	665,216		7.000		05/01/32		690,980
	3,174		6.000		08/01/32		3,189
	423,150		7.000		12/01/32		439,539
	3,363,854		6.500		10/01/34		3,446,003

							22,362,354

FNMA — 17.8%
	5,550		6.500		05/01/08		5,567
	361		8.000		04/01/09		362
	2,481		9.000		02/01/10		2,585
	78,979		6.000		08/01/13		80,017
	13,198		7.500		01/01/14		13,229
	327,749		7.500		08/01/15		340,119
	94,640		6.000		04/01/16		96,041
	198,047		6.500		05/01/16		201,771
	287,683		6.500		09/01/16		293,092
	378,277		6.500		11/01/16		385,389
	95,320		6.000		12/01/16		96,731
	738,427		6.000		02/01/17		749,372
	122,745		7.500		04/01/17		127,371
	1,114,347		6.000		10/01/17		1,130,863
	136,439		5.000		02/01/18		134,088
	1,038,240		5.500		02/01/18		1,036,823
	314,819		4.500		04/01/18		303,876
	837,246		5.000		04/01/18		822,819
	2,731,148		4.500		05/01/18		2,636,212
	1,488,437		5.000		05/01/18		1,462,789
	3,694,740		4.500		06/01/18		3,566,310
	169,172		5.000		06/01/18		166,257
	196,759		4.500		07/01/18		189,920
	105,764		6.500		08/01/18		107,817
	432,914		7.000		08/01/18		451,810
	4,215,656		4.000		09/01/18		3,985,075
	285,544		5.000		11/01/18		280,624
	5,214,480		4.500		01/01/19		5,033,223
	194,921		5.000		02/01/19		191,263
	1,470,015		5.000		03/01/19		1,442,422
	1,069,639		5.000		04/01/19		1,049,561
	680,212		5.000		08/01/19		667,444
	288,010		5.000		10/01/19		282,604
	1,279,251		5.000		11/01/19		1,255,239
	720		7.000		07/01/25		749
	11,210		7.000		11/01/25		11,662
	73,781		9.000		11/01/25		80,153
	4,183		7.000		08/01/27		4,359
	26,059		7.000		09/01/27		27,156
	906		7.000		01/01/28		944
	797,846		6.000		02/01/29		804,329
	447,508		6.000		03/01/29		450,731
	181,912		6.500		03/01/29		186,869
	393,862		6.000		05/01/29		396,699
	39,460		6.500		05/01/29		40,487
	1,129,128		6.000		06/01/29		1,137,262
	284,262		6.500		06/01/29		291,656
	134,779		6.500		07/01/29		138,285
	251,663		6.500		08/01/29		258,209
	7,741		7.000		09/01/29		8,063
	121,758		6.500		10/01/29		124,925
	96,721		8.000		10/01/29		102,434
	165,435		6.500		11/01/29		169,738
	123,487		6.500		12/01/29		126,699


Principal		Interest			Maturity
Amount		Rate			Date		Value
Mortgage-Backed Obligations — (continued)
FNMA — (continued)
$	49,401		7.000	%	12/01/29		$	51,451
	1,640		8.500		04/01/30			1,761
	13,330		8.000		05/01/30			13,750
	499		8.500		06/01/30			535
	191,031		6.500		04/01/31			195,763
	46,973		7.000		05/01/32			48,835
	348,999		7.000		06/01/32			362,515
	411,158		7.000		08/01/32			427,081
	126,120		8.000		08/01/32			132,922
	40,072		7.000		05/01/35			41,338
	77,581		7.000		07/01/35			80,031
	86,823		7.000		08/01/35			89,565
	62,988		7.000		10/01/35			64,977
	52,573		7.000		01/01/36			54,230
	273,095		7.000		09/01/36			281,721
	488,475		7.000		10/01/36			503,863
	384,362		7.000		12/01/36			396,470
	305,817		7.000		02/01/37			315,449
	991,112		7.000		03/01/37			1,022,330
	237,096		7.000		04/01/37			244,564
	5,000,000		7.500		10/01/37			5,206,250
	5,000,000		7.000		10/25/37			5,159,375

								47,644,870

GNMA — 0.9%
	471		6.500		09/15/08			474
	57,997		7.000		03/15/12			59,250
	60,349		7.000		06/15/23			63,557
	22,161		7.000		10/15/25			23,334
	29,790		7.000		11/15/25			31,366
	4,609		7.000		02/15/26			4,827
	20,098		7.000		04/15/26			21,049
	9,667		7.000		03/15/27			10,124
	1,391		7.000		06/15/27			1,457
	15,094		7.000		10/15/27			15,807
	169,857		7.000		11/15/27			177,883
	10,316		7.000		01/15/28			10,808
	67,466		7.000		02/15/28			70,688
	23,259		7.000		03/15/28			24,369
	12,375		7.000		04/15/28			12,966
	1,379		7.000		05/15/28			1,445
	23,659		7.000		06/15/28			24,789
	46,871		7.000		07/15/28			49,109
	143,045		7.000		08/15/28			149,876
	61,305		7.000		09/15/28			64,233
	9,040		7.000		11/15/28			9,472
	6,113		7.500		11/15/30			6,438
	4,149		7.000		10/15/31			4,325
	1,486		7.000		12/15/31			1,549
	38,119		7.500		10/15/32			39,937
	1,587,655		6.000		08/20/34			1,595,782

								2,474,914

TOTAL MORTGAGE-BACKED OBLIGATIONS							$	181,830,877


Agency Debentures — 9.3%
FFCB
$	1,600,000		5.400	%	06/08/17	$		1,648,435
FHLB
	1,800,000		4.000		12/30/11			1,755,436
	6,990,000		4.875		12/14/12			7,057,310
	5,000,000		4.750		11/14/14			4,990,046
FHLMC
	800,000		5.500		08/20/12			829,530
	2,100,000		4.625		10/25/12			2,095,957
	4,400,000		5.500		08/23/17			4,567,988
Tennessee Valley Authority
	2,000,000		5.375		04/01/56			2,009,978

TOTAL AGENCY DEBENTURES							$	24,954,680

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments (continued)

September 30, 2007 (Unaudited)


Principal		Interest			Maturity
Amount		Rate			Date	Value
U.S. Treasury Obligations — 3.6%
United States Treasury Bonds
$	4,000,000		5.375	%	02/15/31	$	4,284,120
	1,940,000		4.500		02/15/36		1,839,683
	400,000		4.750		02/15/37		394,732
	1,500,000		5.000		05/15/37		1,538,671
United States Treasury Notes
	400,000		4.750		08/15/17		405,436
United States Treasury Principal-Only STRIPS^(d)
	1,300,000		0.000		08/15/25		535,067
	1,400,000		0.000		08/15/26		549,724

TOTAL U.S. TREASURY OBLIGATIONS						$	9,547,433


Short-Term Obligation — 2.0%
JPMorgan Chase Euro — Time Deposit
$	5,432,100		4.897	%	10/01/07	$	5,432,100

TOTAL INVESTMENTS — 103.1%						$	276,471,996

LIABILITIES IN EXCESS OF OTHER ASSETS — (3.1)%							(8,377,396	)

NET ASSETS — 100.0%						$	268,094,600

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 $14,565,905, which represents approximately 5.4% of net assets as of September 30, 2007.

(b) Variable rate security. Interest rate disclosed is that which is in effect at September 30, 2007.

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

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

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
FFCB		— Federal Farm Credit Bank
FHLB		— Federal Home Loan Bank
FHLMC		— Federal Home Loan Mortgage Corp.
FNMA		— Federal National Mortgage Association
GNMA		— Government National Mortgage Association
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)

September 30, 2007 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FORWARD FOREIGN CURRENCY CONTRACTS — At September 30, 2007, the Fund had outstanding forward foreign currency exchange contracts, both to purchase and sell foreign currencies:


Open Forward Foreign Currency	Purchase	Expiration	Value on				Unrealized
Contracts with Unrealized Gain	Contract	Date	Settlement Date		Current Value		Gain

Australian Dollar	Purchase	12/19/2007	$	4,850,856	$	5,065,007	$	214,151
British Pound	Purchase	12/19/2007		7,416,679		7,596,256		179,577
Canadian Dollar	Purchase	12/19/2007		210,000		224,346		14,346
Euro	Purchase	12/19/2007		7,153,291		7,329,580		176,289
Japanese Yen	Purchase	12/19/2007		8,430,411		8,466,826		36,415
New Zealand Dollar	Purchase	12/19/2007		4,723,907		5,025,191		301,284
Norwegian Krone	Purchase	12/19/2007		2,924,975		3,094,582		169,607
Swedish Krona	Purchase	12/11/2007		505,005		532,949		27,944
Swedish Krona	Purchase	12/19/2007		3,152,000		3,244,776		92,776
Swiss Franc	Purchase	12/19/2007		8,405,000		8,508,667		103,667

TOTAL OPEN FORWARD FOREIGN CURRENCY CONTRACTS WITH UNREALIZED GAIN							$	1,316,056


Open Forward Foreign Currency	Purchase/	Expiration	Value on				Unrealized
Contracts with Unrealized Loss	Sale Contract	Date	Settlement Date		Current Value		Loss

Australian Dollar	Sale	12/19/2007	$	3,290,580	$	3,508,110	$	(217,530	)
British Pound	Sale	12/19/2007		10,497,706		10,683,175		(185,469	)
Canadian Dollar	Sale	12/19/2007		211,000		221,125		(10,125	)
Euro	Sale	12/19/2007		5,053,113		5,217,913		(164,800	)
Japanese Yen	Purchase	12/19/2007		1,477,000		1,464,027		(12,973	)
Japanese Yen	Sale	12/19/2007		8,633,338		8,685,893		(52,555	)
New Zealand Dollar	Sale	12/19/2007		4,483,801		4,717,481		(233,680	)
Norwegian Krone	Sale	12/19/2007		2,522,925		2,665,583		(142,658	)
Swedish Krona	Sale	12/19/2007		2,134,117		2,214,933		(80,816	)
Swiss Franc	Sale	12/19/2007		5,808,025		5,917,635		(109,610	)

TOTAL OPEN FORWARD FOREIGN CURRENCY CONTRACTS WITH UNREALIZED LOSS							$	(1,210,216	)

FUTURES CONTRACTS — At September 30, 2007, the following futures contracts were open:


	Number of Contracts	Settlement				Unrealized
Type	Long (Short)	Month	Notional Value			Gain (Loss)

Eurodollars	(7)	December 2007	$	(1,665,213	)	$	(671	)
Eurodollars	4	March 2008		954,800			3,379
Eurodollars	4	June 2008		956,250			4,180
Eurodollars	8	September 2008		1,913,800			9,316
Eurodollars	8	December 2008		1,913,700			9,816
Eurodollars	8	March 2009		1,912,300			9,268
Eurodollars	8	June 2009		1,910,000			8,268
Liffe Long Gilt	48	December 2007		10,502,364			(98,957	)
U.S. Treasury Bonds	(80)	December 2007		(8,907,500	)		(50,323	)
2 Year U.S. Treasury Notes	115	December 2007		23,810,391			71,730
5 Year U.S. Treasury Notes	119	December 2007		12,736,719			32,834
10 Year U.S. Treasury Notes	85	December 2007		9,288,906			(24,278	)
10 Year U.S. Treasury Notes	16	March 2008		1,740,750			1,738

TOTAL						$	(23,700	)

TAX INFORMATION — At September 30, 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	$	277,639,469

Gross unrealized gain		1,882,152
Gross unrealized loss		(3,049,625	)

Net unrealized security loss	$	(1,167,473	)

GOLDMAN SACHS VARIABLE INSURANCE TRUST GOVERNMENT INCOME FUND

Schedule of Investments

September 30, 2007 (Unaudited)


Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — 65.1%
Adjustable Rate FHLMC^(a) — 1.8%
$	743,316		4.846	%	09/01/35	$	735,943
	857,560		4.740		10/01/35		835,291

							1,571,234

Adjustable Rate FNMA^(a) — 3.8%
	565,544		4.446		05/01/33		564,934
	690,171		3.846		10/01/33		689,799
	1,150,717		4.564		05/01/35		1,159,522
	786,181		5.087		12/01/35		782,530

							3,196,785

Adjustable Rate Non-Agency^(a) — 14.4%
Bear Stearns Commercial Mortgage Securities Series 2006-PW12, Class A4
	500,000		5.895		09/11/38		508,708
Citigroup Commercial Mortgage Trust Series 2006-C4, Class A3
	500,000		5.914		03/15/49		508,873
Citigroup/Deutsche Bank Commercial Mortgage Trust Series 2005-CD1, Class A4
	1,000,000		5.400		07/15/44		989,590
Countrywide Alternative Loan Trust Series 2005-59, Class 1A2A
	601,042		5.876		11/20/35		586,493
First Horizon Alternative Mortgage Securities Series 2005-AA7, Class 2A1
	649,707		5.406		09/25/35		647,452
GSR Mortgage Loan Trust Series 2005-AR6, Class 3A1
	780,459		4.561		09/25/35		771,908
Indymac Index Mortgage Loan Trust Series 2006-AR2, Class 1A1A
	635,158		5.351		04/25/46		615,421
J.P. Morgan Mortgage Trust Series 2007-A1, Class 2A2
	895,328		4.760		07/25/35		886,961
Lehman XS Trust Series 2007-4N, Class 3A2A
	921,602		5.733		03/25/47		896,209
Luminent Mortgage Trust Series 2006-2, Class A1A
	623,320		5.331		02/25/46		611,899
Merrill Lynch Mortgage Investors, Inc. Series 2005-A9, Class 2A1C
	1,000,000		5.149		12/25/35		995,177
Residential Accredit Loans, Inc. Series 2005-QO5, Class A1
	604,287		5.983		01/25/46		592,301
Residential Accredit Loans, Inc. Series 2007-QH9, Class A1
	999,803		6.550		11/25/37		1,003,208
Washington Mutual Mortgage Pass-Through Certificates Series 2005-AR10, Class 1A3
	1,000,000		4.836		09/25/35		987,579
Washington Mutual Mortgage Pass-Through Certificates Series 2006-AR11, Class 3A1A
	846,255		5.903		09/25/46		827,835


Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
Adjustable Rate Non-Agency^(a) — (continued)
Wells Fargo Mortgage Backed Securities Trust Series 2006-AR10, Class 5A3
$	750,802		5.607	%	07/25/36	$	748,462

							12,178,076

Commercial Mortgage Backed Securities — 3.5%
Sequential Fixed Rate
Banc of America Commercial Mortgage, Inc. Series 2006-4, Class A4
	1,000,000		5.634		07/10/46		1,005,260
Banc of America Commercial Mortgage, Inc. Series 2006-5, Class A4
	1,000,000		5.414		09/10/47		990,287
Banc of America Funding Corp. Series 2007-8, Class 2A1
	1,000,000		7.000		10/25/37		1,007,656

TOTAL COMMERCIAL MORTGAGE BACKED SECURITIES							3,003,203

Collateralized Mortgage Obligations — 8.7%
Interest Only^(a)^(b)^(c) — 0.2%
FNMA Series 2004-47, Class EI
	381,549		0.000		06/25/34		28,150
FNMA Series 2004-62, Class DI
	163,855		0.000		07/25/33		11,777
FNMA Series 2007-53, Class UF
	97,810		0.000		06/25/37		109,214

							149,141

Planned Amortization Class — 8.5%
FHLMC Series 2719, Class GC
	4,580,000		5.000		06/15/26		4,571,665
FNMA Series 2003-32, Class PD
	498,160		4.000		07/25/22		496,823
FNMA Series 2003-70, Class BS
	2,148,708		4.000		04/25/22		2,137,233

							7,205,721

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS							7,354,862

FHLMC — 6.8%
	1,685,516		4.500		12/01/18		1,628,031
	1,697,622		4.000		06/01/19		1,597,003
	1,433,167		4.500		06/01/19		1,384,289
	133		8.000		06/01/19		133
	11,365		10.000		03/01/21		12,616
	25,130		6.500		06/01/23		26,009
	1,135,049		6.500		10/01/34		1,162,768

							5,810,849

FNMA — 26.1%
	217		8.000		04/01/09		217
	79,811		5.000		11/01/17		78,485
	360,726		5.000		12/01/17		354,735
	316,511		5.000		01/01/18		311,255
	1,010,977		5.000		02/01/18		993,556
	264,883		5.000		03/01/18		260,319
	39,352		4.500		04/01/18		37,984
	1,134,488		5.000		04/01/18		1,114,939
	341,391		4.500		05/01/18		329,524
	480,306		5.000		05/01/18		472,030
	461,841		4.500		06/01/18		445,787
	966,196		5.000		06/01/18		949,547
	24,595		4.500		07/01/18		23,740
	25,480		5.000		07/01/18		25,041
	1,686,262		4.000		09/01/18		1,594,030
	771,441		4.500		09/01/18		744,625

GOLDMAN SACHS VARIABLE INSURANCE TRUST GOVERNMENT INCOME FUND

Schedule of Investments (continued)

September 30, 2007 (Unaudited)


Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
FNMA — (continued)
$	24,610		4.500	%	10/01/18	$	23,754
	975,291		4.500		11/01/18		941,389
	756,482		5.000		11/01/18		743,446
	118,059		4.500		12/01/18		113,955
	794,637		5.000		12/01/18		780,944
	24,734		4.500		01/01/19		23,875
	167,076		5.000		02/01/19		163,940
	34,364		4.500		03/01/19		33,170
	1,260,013		5.000		03/01/19		1,236,362
	1,766,822		5.000		04/01/19		1,734,966
	781,549		5.000		06/01/19		768,081
	583,038		5.000		08/01/19		572,094
	286,374		4.500		09/01/19		276,420
	518,644		6.000		09/01/19		526,332
	246,866		5.000		10/01/19		242,232
	1,096,501		5.000		11/01/19		1,075,919
	81,917		4.500		03/01/20		79,070
	212,784		4.500		04/01/20		205,387
	652,036		6.000		12/01/20		661,687
	22,164		8.000		09/01/21		23,398
	13,357		7.000		05/01/35		13,779
	25,860		7.000		07/01/35		26,677
	28,941		7.000		08/01/35		29,855
	20,995		7.000		10/01/35		21,659
	17,525		7.000		01/01/36		18,077
	91,032		7.000		09/01/36		93,907
	162,824		7.000		10/01/36		167,954
	128,120		7.000		12/01/36		132,156
	101,938		7.000		02/01/37		105,149
	330,371		7.000		03/01/37		340,777
	79,032		7.000		04/01/37		81,521
	3,000,000		7.500		10/01/37		3,123,750

							22,117,496

GNMA — 0.0%
	1,778		6.500		06/15/09		1,802

TOTAL MORTGAGE-BACKED OBLIGATIONS						$	55,234,307


Agency Debentures — 29.2%
FFCB
$	500,000		5.400	%	06/08/17	$	515,136
FHLB
	7,000,000		3.500		04/06/09		6,903,274
	4,500,000		4.000		12/19/11		4,347,986
	9,500,000		4.000		12/30/11		9,264,799
FNMA
	3,000,000		3.860		02/22/08		2,987,544
Tennessee Valley Authority
	700,000		5.375		04/01/56		703,492

TOTAL AGENCY DEBENTURES						$	24,722,231


U.S. Treasury Obligations — 2.9%
United States Treasury Notes
$	300,000		4.000	%	08/31/09	$	300,132
	900,000		4.500		02/15/36		853,461
	1,100,000		4.750		02/15/37		1,085,513
United States Treasury Principal-Only STRIPS^(d)
	200,000		0.000		08/15/25		82,318
	300,000		0.000		08/15/26		117,798

TOTAL U.S. TREASURY OBLIGATIONS						$	2,439,222


Short-Term Obligation — 3.3%
JPMorgan Chase Euro — Time Deposit
$	2,812,624		4.897	%	10/01/07	$	2,812,624

TOTAL INVESTMENTS — 100.5%						$	85,208,384

LIABILITIES IN EXCESS OF OTHER ASSETS — (0.5)%							(402,833	)

NET ASSETS — 100.0%						$	84,805,551

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 September 30, 2007.

(b) Security issued with a zero coupon, and interest rate is contingent upon LIBOR reaching a predetermined level.

(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:
FFCB		— Federal Farm Credit Bank
FHLB		— Federal Home Loan Bank
FHLMC		— Federal Home Loan Mortgage Corp.
FNMA		— Federal National Mortgage Association
GNMA		— Government National Mortgage Association
STRIPS		— Separate Trading of Registered Interest and Principal of Securities

GOLDMAN SACHS VARIABLE INSURANCE TRUST GOVERNMENT INCOME FUND

Schedule of Investments (continued)

September 30, 2007 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FUTURES CONTRACTS — At September 30, 2007, the following futures contracts were open:


	Number of Contracts	Settlement	Notional			Unrealized
Type	Long (Short)	Month	Value			Gain (Loss)

Eurodollars	2	December 2007	$	475,775		$	155
Eurodollars	3	December 2008		717,638			3,681
Eurodollars	1	March 2008		238,700			845
Eurodollars	(1)	June 2008		(239,063	)		(1,016	)
Eurodollars	3	September 2008		717,675			3,494
Eurodollars	3	March 2009		717,113			3,476
Eurodollars	3	June 2009		716,250			3,101
U.S. Treasury Bonds	18	December 2007		2,004,188			1,009
2 Year U.S. Treasury Notes	5	December 2007		1,035,234			4,100
5 Year U.S. Treasury Notes	25	December 2007		2,675,781			6,007
10 Year U.S. Treasury Notes	37	December 2007		4,043,406			24,919
10 Year U.S. Treasury Notes	46	March 2008		5,004,656			8,340

TOTAL						$	58,111

TAX INFORMATION — At September 30, 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	$	85,083,196

Gross unrealized gain		537,206
Gross unrealized loss		(412,018	)

Net unrealized security gain	$	125,188

GOLDMAN SACHS VARIABLE INSURANCE TRUST MONEY MARKET FUND

Schedule of Investments

September 30, 2007 (Unaudited)


Principal		Interest			Maturity
Amount		Rate			Date	Value
Commercial Paper and Corporate Obligations — 50.6%
Amstel Funding Corp.
$	3,000,000		6.100	%	12/13/07	$	2,962,892
Atlantic Asset Securitization Corp.
	5,000,000		6.000		11/19/07		4,959,167
BA Credit Card Trust (Emerald)
	5,120,000		5.260		10/19/07		5,106,534
	3,000,000		5.260		10/25/07		2,989,480
Bank of America Corp.
	5,000,000		5.425		11/13/07		4,967,601
Bavaria TRR Corp.
	3,000,000		6.150		10/19/07		2,990,775
Cafco LLC
	2,000,000		5.850		03/05/08		1,949,300
Cancara Asset Securitization Ltd.
	2,000,000		6.400		10/09/07		1,997,156
	5,000,000		5.260		10/31/07		4,978,083
Chariot Funding LLC
	2,000,000		5.450		02/20/08		1,957,006
Ciesco LLC
	2,000,000		5.900		11/28/07		1,980,989
	2,000,000		5.470		02/15/08		1,958,367
Citibank Credit Card Issuance Trust (Dakota Corp.)
	3,000,000		6.250		12/19/07		2,958,854
	3,000,000		6.200		01/15/08		2,945,233
Falcon Asset Securitization Corp.
	5,000,000		5.150		11/27/07		4,959,229
Gemini Securitization Corp.
	5,000,000		5.250		10/17/07		4,988,333
	3,000,000		6.150		12/11/07		2,963,613
General Electric Capital Corp.
	4,000,000		5.150		10/15/07		3,991,989
	5,000,000		5.250		10/17/07		4,988,333
Grampian Funding LLC
	5,000,000		5.190		11/21/07		4,963,237
	2,000,000		4.970		03/20/08		1,952,785
Irish Life & Permanent PLC
	3,000,000		5.180		10/16/07		2,993,525
Monument Gardens Funding LLC
	5,000,000		6.120		12/05/07		4,944,750
	3,000,000		6.150		12/13/07		2,962,588
Morgan Stanley
	2,000,000		5.006		03/20/08		1,952,443
Nieuw Amsterdam Receivables Corp.
	2,000,000		5.200		12/17/07		1,977,756
Ranger Funding Co. LLC
	5,327,000		5.130		12/18/07		5,267,790
Ticonderoga Master Funding LLC
	7,506,000		5.260		10/12/07		7,493,936
Variable Funding Capital Corp.
	5,000,000		6.050		10/22/07		4,982,354
Westpac Banking Corp.
	3,000,000		5.200		12/21/07		2,964,900

TOTAL COMMERCIAL PAPER AND CORPORATE OBLIGATIONS						$	109,048,998


Principal		Interest			Maturity
Amount		Rate			Date	Value
Eurodollar Certificates of Deposit — 0.5%
Societe Generale
$	1,000,000		5.300	%	01/03/08	$	1,000,000


Medium Term Note — 0.5%
UBS AG Stamford
$	1,000,000		5.400	%	11/28/07	$	1,000,000


Variable Rate Obligations^(a) — 22.2%
Barclays Bank PLC
$	4,000,000		5.714	%	10/16/07	$	3,999,705
Caja Madrid
	5,000,000		5.360		10/19/07		5,000,000
HBOS Treasury Services PLC
	5,000,000		5.789		10/09/07		5,000,000
IBM Corp.^(b)
	10,000,000		5.830		10/09/07		10,000,000
Merrill Lynch & Co., Inc.
	2,000,000		5.783		10/15/07		2,000,000
Nordea Bank AB^(b)
	4,000,000		5.844		10/11/07		4,000,000
Royal Bank of Canada
	5,000,000		5.665		10/03/07		4,999,253
Royal Bank of Scotland Group PLC
	5,000,000		5.074		10/26/07		4,999,283
Societe Generale
	2,000,000		5.079		10/26/07		1,999,713
UBS AG Stamford
	2,000,000		5.722		10/16/07		2,000,000
Wells Fargo & Co.
	4,000,000		5.770		10/03/07		4,000,000

TOTAL VARIABLE RATE OBLIGATIONS						$	47,997,954


Yankee Certificates of Deposit — 8.8%
Barclays Bank PLC
$	2,000,000		5.510	%	03/11/08	$	2,000,000
Credit Suisse First Boston, Inc.
	2,000,000		5.310		05/22/08		2,000,000
Deutsche Bank AG
	3,000,000		5.310		10/11/07		3,000,000
	1,000,000		5.400		11/21/07		1,000,000
Landesbank Baden-Wuerttemberg
	3,000,000		5.505		02/19/08		3,000,057
Norinchukin Bank NY
	2,000,000		5.370		01/11/08		2,000,000
UBS AG
	3,000,000		5.560		03/03/08		3,000,000
UBS AG Stamford
	3,000,000		5.375		11/08/07		3,000,000

TOTAL YANKEE CERTIFICATES OF DEPOSIT						$	19,000,057

TOTAL INVESTMENTS BEFORE REPURCHASE AGREEMENT						$	178,047,009

GOLDMAN SACHS VARIABLE INSURANCE TRUST MONEY MARKET FUND

Schedule of Investments (continued)

September 30, 2007 (Unaudited)


Principal		Interest			Maturity
Amount		Rate			Date	Value
Repurchase Agreement^(c) — 17.4%
Joint Repurchase Agreement Account II
$	37,600,000		5.116	%	10/01/07	$	37,600,000
Maturity Value: $37,616,030

TOTAL INVESTMENTS — 100.0%						$	215,647,009

LIABILITIES IN EXCESS OF OTHER ASSETS — 0.0%							(49,531	)

NET ASSETS — 100.0%						$	215,597,478

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

(a) Variable or floating rate security index is based on either Federal Funds, U.S. Treasury Bill, or London Interbank Offering Rate. Interest rate disclosed is that which is in effect at September 30, 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 $14,000,000, which represents approximately 6.5% of net assets as of September 30, 2007.

(c) Joint repurchase agreement was entered into on September 28, 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 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

September 30, 2007 (Unaudited)


Shares		Description	Value
Common Stocks — 100.5%
Automobiles & Components — 0.0%
	12,400	Lear Corp.^*	$	398,040

Banks — 3.9%
	700	KeyCorp		22,631
	163,100	Regions Financial Corp.		4,808,188
	103,900	SunTrust Banks, Inc.		7,862,113
	192,600	Wachovia Corp.		9,658,890
	91,800	Washington Mutual, Inc.		3,241,458
	454,800	Wells Fargo & Co.		16,199,976

				41,793,256

Capital Goods — 8.9%
	230,000	3M Co.		21,523,400
	24,700	AGCO Corp.^*		1,254,019
	33,000	Cummins, Inc.		4,220,370
	346,788	General Electric Co.		14,357,023
	172,700	Honeywell International, Inc.		10,270,469
	256,700	Northrop Grumman Corp.		20,022,600
	3,800	Precision Castparts Corp.		562,324
	267,000	Raytheon Co.		17,039,940
	28,800	Rockwell Automation, Inc.		2,001,888
	5,500	Rockwell Collins, Inc.		401,720
	500	SPX Corp.		46,280
	27,239	The Boeing Co.		2,859,823
	44,275	Tyco International Ltd.		1,963,153

				96,523,009

Commercial Services & Supplies — 0.7%
	2,900	Dun & Bradstreet Corp.		285,969
	110,700	Manpower, Inc.		7,123,545

				7,409,514

Consumer Durables & Apparel — 0.0%
	7,200	Hanesbrands, Inc.^*		202,032

Consumer Services — 1.8%
	12,800	Carnival Corp.		619,904
	33,100	ITT Educational Services, Inc.^*		4,027,939
	96,519	Marriott International, Inc. Class A		4,195,681
	147,100	McDonald’s Corp.		8,012,537
	60,200	Yum! Brands, Inc.		2,036,566

				18,892,627

Diversified Financials — 8.8%
	24,300	Ameriprise Financial, Inc.		1,533,573
	472,222	Bank of America Corp.		23,738,600
	71,600	Bank of New York Mellon Corp.		3,160,424
	341,314	Citigroup, Inc.		15,929,124
	248,250	Discover Financial Services^*		5,163,600
	33,800	Eaton Vance Corp.		1,350,648
	10,200	Federated Investors, Inc. Class B		404,940
	716,600	JPMorgan Chase & Co.		32,834,612
	30,500	Moody’s Corp.		1,537,200


Shares		Description	Value
Common Stocks — (continued)
Diversified Financials — (continued)
	139,200	Morgan Stanley	$	8,769,600
	9,100	SLM Corp.		451,997

				94,874,318

Energy — 11.6%
	143,500	Chevron Corp.		13,428,730
	11,200	ConocoPhillips		983,024
	268,200	Devon Energy Corp.		22,314,240
	47,300	Dresser-Rand Group, Inc.^*		2,020,183
	678,024	Exxon Mobil Corp.		62,757,901
	7,200	GlobalSantaFe Corp.		547,344
	152,800	Halliburton Co.		5,867,520
	50,000	Holly Corp.		2,991,500
	74,800	Marathon Oil Corp.		4,265,096
	80,600	Tesoro Corp.		3,709,212
	6,200	Transocean, Inc.^*		700,910
	147,000	Western Refining, Inc.		5,965,260

				125,550,920

Food & Staples Retailing — 0.7%
	100	Safeway, Inc.		3,311
	21,600	Sysco Corp.		768,744
	126,000	The Kroger Co.		3,593,520
	72,500	Wal-Mart Stores, Inc.		3,164,625

				7,530,200

Food, Beverage & Tobacco — 6.1%
	169,600	Altria Group, Inc.		11,792,288
	37,400	Hansen Natural Corp.^*		2,119,832
	37,100	Molson Coors Brewing Co. Class B		3,697,757
	11,700	PepsiAmericas, Inc.		379,548
	63,200	PepsiCo, Inc.		4,630,032
	266,200	The Coca-Cola Co.		15,298,514
	655,000	Tyson Foods, Inc. Class A		11,691,750
	318,567	UST, Inc.		15,800,923

				65,410,644

Health Care Equipment & Services — 4.4%
	332,594	AmerisourceBergen Corp.		15,076,486
	73,236	Cigna Corp.		3,902,746
	11,200	Dade Behring Holdings, Inc.		855,120
	66,969	Humana, Inc.^*		4,679,794
	22,300	Kinetic Concepts, Inc.^*		1,255,044
	204,000	Medco Health Solutions, Inc.^*		18,439,560
	30,500	WellCare Health Plans, Inc.^*		3,215,615

				47,424,365

Household & Personal Products — 1.8%
	95,100	Energizer Holdings, Inc.^*		10,541,835
	122,200	Procter & Gamble Co.		8,595,548

				19,137,383

Insurance — 3.0%
	55,730	AMBAC Financial Group, Inc.		3,505,975
	64,800	American International Group, Inc.		4,383,720
	174,100	Loews Corp.		8,417,735
	267,563	MBIA, Inc.		16,334,721
	3,000	Nationwide Financial Services, Inc.		161,460

				32,803,611

Materials — 1.7%
	20,800	AK Steel Holding Corp.^*		914,160

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

Schedule of Investments (continued)

September 30, 2007 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Materials — (continued)
	17,900	Alcoa, Inc.	$	700,248
	17,300	Celanese Corp. Series A		674,354
	29,300	Cleveland-Cliffs, Inc.		2,577,521
	4,700	Eastman Chemical Co.		313,631
	46,700	Monsanto Co.		4,004,058
	13,000	Newmont Mining Corp.		581,490
	22,700	PPG Industries, Inc.		1,714,985
	16,300	Southern Copper Corp.		2,018,429
	38,200	United States Steel Corp.		4,046,908
	17,000	Weyerhaeuser Co.		1,229,100

				18,774,884

Media — 6.3%
	714,530	CBS Corp. Class B		22,507,695
	8,200	Idearc, Inc.		258,054
	10,700	Liberty Media Holding Corp., Capital Series Class A^*		1,335,681
	1,382,353	Time Warner, Inc.		25,380,001
	93,479	The DIRECTV Group, Inc.^*		2,269,670
	457,086	The Walt Disney Co.		15,719,188

				67,470,289

Pharmaceuticals, Biotechnology & Life Sciences — 8.9%
	7,590	Amgen, Inc.^*		429,366
	219,400	Biogen Idec, Inc.^*		14,552,802
	47,400	Eli Lilly & Co.		2,698,482
	41,500	Forest Laboratories, Inc.^*		1,547,535
	494,300	Gilead Sciences, Inc.^*		20,202,041
	7,600	Invitrogen Corp.^*		621,148
	234,308	Merck & Co., Inc.		12,111,381
	1,386,815	Pfizer, Inc.		33,879,890
	304,100	Schering-Plough Corp.		9,618,683
	26,600	Watson Pharmaceuticals, Inc.^*		861,840

				96,523,168

Real Estate — 2.6%
	172,600	Annaly Capital Management, Inc. (REIT)		2,749,518
	513,800	CB Richard Ellis Group, Inc. Class A^*		14,304,192
	3,500	Developers Diversified Realty Corp. (REIT)		195,545
	8,600	Duke Realty Corp. (REIT)		290,766
	85,100	iStar Financial, Inc. (REIT)		2,892,549
	33,700	Jones Lang LaSalle, Inc.		3,463,012
	43,800	Simon Property Group, Inc. (REIT)		4,380,000

				28,275,582

Retailing — 3.0%
	117,700	Amazon.com, Inc.^*		10,963,755
	464,094	AutoNation, Inc.^*		8,223,746
	3,700	AutoZone, Inc.^*		429,718
	103,700	Expedia, Inc.^*		3,305,956
	66,100	GameStop Corp., Class A^*		3,724,735
	22,300	Genuine Parts Co.		1,115,000
	207,900	RadioShack Corp.		4,295,214

				32,058,124

Semiconductors & Semiconductor Equipment — 2.5%
	246,500	Intel Corp.		6,374,490
	150	NVIDIA Corp.^*		5,436
	558,052	Texas Instruments, Inc.		20,419,123

				26,799,049


Shares		Description	Value
Common Stocks — (continued)
Software & Services — 7.3%
	465,900	Accenture Ltd. Class A	$	18,752,475
	12,900	Computer Sciences Corp.^*		721,110
	48,200	Mastercard, Inc. Class A		7,132,154
	1,375,840	Microsoft Corp.		40,532,246
	601,700	Symantec Corp.^*		11,660,946
	9,111	Synopsys, Inc.^*		246,726

				79,045,657

Technology Hardware & Equipment — 8.2%
	300	Andrew Corp.^*		4,155
	55,800	Apple, Computer, Inc.^*		8,567,532
	60,300	Avnet, Inc.^*		2,403,558
	915,040	Cisco Systems, Inc.^*		30,296,975
	270,400	Dell, Inc.^*		7,463,040
	130,900	Hewlett-Packard Co.		6,517,511
	35,800	International Business Machines Corp.		4,217,240
	596,100	Juniper Networks, Inc.^*		21,823,221
	57,300	Lexmark International, Inc. Class A^*		2,379,669
	135,326	Tyco Electronics Ltd.		4,794,600

				88,467,501

Telecommunication Services — 5.3%
	27,500	ALLTEL Corp.		1,916,200
	200	AT&T, Inc.		8,462
	140,900	CenturyTel, Inc.		6,512,398
	37,000	Embarq Corp.		2,057,200
	1,124,595	Sprint Nextel Corp.		21,367,305
	574,600	Verizon Communications, Inc.		25,443,288

				57,304,853

Transportation — 0.5%
	141,900	Avis Budget Group, Inc.^*		3,248,091
	21,400	United Parcel Service, Inc. Class B		1,607,140

				4,855,231

Utilities — 2.5%
	6,101	Dynergy, Inc. Class A^*		56,373
	99,800	PG&E Corp.		4,770,440
	771,883	Reliant Energy, Inc.^*		19,760,205
	36,170	TXU Corp.		2,476,560

				27,063,578

TOTAL INVESTMENTS — 100.5%			$	1,084,587,835

LIABILITIES IN EXCESS OF OTHER ASSETS — (0.5)%				(5,468,100	)

NET ASSETS — 100.0%			$	1,079,119,735

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

^* Non-income producing security.

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




Investment Abbreviation:
REIT		— Real Estate Investment Trust

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRUCTURED SMALL CAP EQUITY FUND

Schedule of Investments

September 30, 2007 (Unaudited)


Shares		Description	Value
Common Stocks — 99.5%
Automobiles & Components — 1.4%
	19,800	American Axle & Manufacturing Holdings, Inc.	$	499,950
	9,300	Amerigon, Inc.^*		160,983
	100	ArvinMeritor, Inc.		1,682
	4,300	Coachmen Industries, Inc.		28,810
	61,700	Cooper Tire & Rubber Co.		1,505,480
	9,500	Exide Technologies^*		61,750
	29,200	Hayes Lemmerz International, Inc.^*		121,472

				2,380,127

Banks — 8.7%
	100	1st Source Corp.		2,290
	100	Ameris Bancorp		1,808
	15,300	Bank Mutual Corp.		180,387
	6,500	BankUnited Financial Corp. Class A		101,010
	100	Banner Corp.		3,439
	17,900	Brookline Bancorp, Inc.		207,461
	14,900	Capitol Federal Financial ^(a)		509,580
	13,100	City National Corp.		910,581
	5,200	Community Bancorp^*		130,728
	110	Community Trust Bancorp, Inc.		3,304
	15,706	Downey Financial Corp.		907,807
	26,200	East West Bancorp, Inc.		942,152
	6,400	First Citizens BancShares, Inc. Class A		1,116,160
	1,000	First Community Bancorp		54,710
	39,500	First Niagara Financial Group, Inc.		558,925
	11,793	First Regional Bancorp^*		289,282
	306	First South Bancorp, Inc. ^(a)		8,005
	13,600	Flagstar Bancorp, Inc.		132,328
	2,700	Greene Bancshares, Inc.		98,415
	100	Hancock Holding Co.		4,008
	63,661	Hanmi Financial Corp.		986,109
	100	Heritage Commerce Corp.		2,117
	100	Horizon Financial Corp.		2,028
	100	IndyMac Bancorp, Inc.		2,361
	100	Nara Bancorp, Inc.		1,562
	8,100	NewAlliance Bancshares, Inc.		118,908
	7,000	Pacific Capital Bancorp		184,100
	100	Pinnacle Financial Partners, Inc.^*		2,882
	27,407	Preferred Bank		1,078,191
	97,700	Provident Financial Services, Inc.		1,599,349
	5,600	Provident New York Bancorp		73,416
	100	Renasant Corp.		2,163
	100	SCBT Financial Corp.		3,454
	100	Southwest Bancorp, Inc.		1,882
	100	Sterling Financial Corp.		2,691
	100	Susquehanna Bancshares, Inc.		2,010
	16,404	SVB Financial Group^*		776,893
	31,000	The PMI Group, Inc.		1,013,700
	100	TriCo Bancshares		2,227
	78,500	Umpqua Holdings Corp.		1,570,785
	18,000	Washington Federal, Inc.		472,680
	100	Washington Trust Bancorp, Inc.		2,697
	100	Westfield Financial, Inc.		971
	8,400	Wilmington Trust Corp.		326,760
	5,300	Wintrust Financial Corp.		226,257

				14,618,573

Capital Goods — 8.2%
	9,300	Acuity Brands, Inc.		469,464
	39,700	Aerovironment, Inc.^*		913,497
	8,400	AGCO Corp.^*		426,468
	100	Ampco-Pittsburgh Corp.		3,938


Shares		Description	Value
Common Stocks — (continued)
Capital Goods — (continued)
	5,700	Applied Industrial Technologies, Inc.	$	175,731
	2,500	AZZ, Inc.^*		87,400
	15,800	Baldor Electric Co.		631,210
	19,900	Belden CDT, Inc.		933,509
	4,300	Cascade Corp.		280,231
	100	CIRCOR International, Inc.		4,541
	56,400	DynCorp International, Inc. Class A^*		1,303,404
	5,000	EnPro Industries, Inc.^*		203,000
	53,340	GrafTech International Ltd.^*		951,586
	18,800	Integrated Electrical Services, Inc.^*		481,468
	10,100	NACCO Industries, Inc. Class A		1,045,148
	33,000	Perini Corp.^*		1,845,690
	100	PGT, Inc.^*		793
	100	Powell Industries, Inc.^*		3,789
	122	Quanta Services, Inc.^*		3,227
	10,500	RBC Bearings, Inc.^*		402,675
	13,400	Robbins & Myers, Inc.		767,686
	4,000	Rush Enterprises, Inc. Class A^*		101,400
	100	Sequa Corp. Class A^*		16,578
	1,600	SPX Corp.		148,096
	16,300	Stanley, Inc.^*		449,065
	4,600	Sun Hydraulics Corp.		146,280
	37,800	Superior Essex, Inc.^*		1,409,184
	27,900	Tredegar Corp.		481,275
	9,700	TriMas Corp.^*		128,719

				13,815,052

Commercial Services & Supplies — 4.0%
	68,500	ABM Industries, Inc.		1,368,630
	89,500	Bowne & Co., Inc.		1,491,070
	100	Cornell Cos., Inc.^*		2,355
	12,700	Diamond Management & Technology Consultants, Inc.		116,840
	100	Heidrick & Struggles International, Inc.^*		3,645
	82,186	IKON Office Solutions, Inc.		1,056,090
	100	Interface, Inc. Class A		1,805
	13,400	Labor Ready, Inc.^*		248,034
	100	Resources Connection, Inc.		2,315
	108,991	Spherion Corp.^*		900,266
	44,700	TeleTech Holdings, Inc.^*		1,068,777
	7,600	United Stationers, Inc.^*		421,952
	100	Viad Corp.		3,600

				6,685,379

Consumer Durables & Apparel — 3.4%
	108,000	American Greetings Corp. Class A		2,851,200
	3,500	Blyth, Inc.		71,575
	2,600	Deckers Outdoor Corp.^*		285,480
	20,000	Kellwood Co.		341,000
	34,600	Perry Ellis International, Inc.^*		958,766
	23,900	Sturm, Ruger & Co., Inc.^*		428,049
	23,900	Tempur-Pedic International, Inc.		854,425

				5,790,495

Consumer Services — 4.3%
	100	Bally Technologies, Inc.^*		3,543
	7,500	Bob Evans Farms, Inc.		226,350
	20,700	California Pizza Kitchen, Inc.^*		363,699
	11,800	Career Education Corp.^*		330,282
	31,784	CPI Corp.		1,224,320
	1,800	ITT Educational Services, Inc.^*		219,042
	9,700	Jack in the Box, Inc.^*		628,948
	28,700	Landry’s Restaurants, Inc. ^(a)		759,402
	161	Marcus Corp.		3,091
	21,400	O’Charley’s, Inc.		324,424
	110	Papa John’s International, Inc.^*		2,688
	33,115	Pre-Paid Legal Services, Inc.^* ^(a)		1,836,558
	12,900	Premier Exhibitions, Inc.^*		194,532
	21,500	Sotheby’s		1,027,485
	300	Weight Watchers International, Inc.		17,268

				7,161,632

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRUCTURED SMALL CAP EQUITY FUND

Schedule of Investments (continued)

September 30, 2007 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Diversified Financials — 1.7%
	150	Advanta Corp. Class B	$	4,113
	14,300	AmeriCredit Corp.^*		251,394
	48,700	Apollo Investment Corp.		1,012,960
	2,100	Capital Southwest Corp.		257,796
	71,600	Cowen Group, Inc.^*		989,512
	10,800	HFF, Inc. Class A^*		128,196
	1	Highland Distressed Opportunities, Inc.		13
	3,700	International Securities Exchange Holdings, Inc.		245,939
	62	Merrill Lynch & Co., Inc.		4,442
	101	NGP Capital Resources Co.		1,639
	100	Sanders Morris Harris Group, Inc.		1,015
	100	SWS Group, Inc.		1,769
	100	The First Marblehead Corp.		3,793

				2,902,581

Energy — 4.2%
	200	Cabot Oil & Gas Corp.		7,032
	23,200	Delek U.S. Holdings, Inc.		581,856
	1,600	Dresser-Rand Group, Inc.^*		68,336
	2,800	Exterran Holdings, Inc.^*		224,952
	35,700	General Maritime Corp. ^(a)		996,387
	14,800	Grey Wolf, Inc.^*		96,940
	5,100	Gulfmark Offshore, Inc.^*		248,166
	2,804	Holly Corp.		167,763
	4,700	Knightsbridge Tankers Ltd. ^(a)		126,430
	6,500	Mariner Energy, Inc.^*		134,615
	23,200	Newpark Resources, Inc.^*		124,352
	8,100	Patterson-UTI Energy, Inc.		182,817
	4,700	PetroQuest Energy, Inc.^*		50,431
	15,900	Rosetta Resources, Inc.^*		291,606
	400	SEACOR Holdings, Inc.^*		38,040
	6,500	Stone Energy Corp.^*		260,065
	8,790	Swift Energy Co.^*		359,687
	16,100	Trico Marine Services, Inc.^*		479,780
	190,900	USEC, Inc.^*		1,956,725
	18,400	Western Refining, Inc.		746,672

				7,142,652

Food & Staples Retailing — 1.2%
	1,473	Ingles Markets, Inc. Class A		42,216
	60,500	Performance Food Group Co.^*		1,822,865
	5,900	Ruddick Corp.		197,886

				2,062,967

Food, Beverage & Tobacco — 3.1%
	265,700	Alliance One International, Inc.^*		1,737,678
	5,500	Boston Beer Co., Inc. Class A^*		267,630
	11,600	Cal-Maine Foods, Inc.		292,784
	62,100	Chiquita Brands International, Inc.^*		983,043
	4,400	Dean Foods Co.		112,552
	31,500	Fresh Del Monte Produce, Inc.		905,625
	4,600	PepsiAmericas, Inc.		149,224
	1,300	The JM Smucker Co.		69,446
	13,300	Universal Corp.		651,035

				5,169,017

Health Care Equipment & Services — 5.9%
	39,000	Align Technology, Inc.^*		987,870
	8,700	Analogic Corp.		554,712
	54,900	Apria Healthcare Group, Inc.^*		1,427,949
	32,000	Conmed Corp.^*		895,680
	39,721	Corvel Corp.^*		918,350
	26,200	Cynosure, Inc. Class A^*		966,780
	2,900	Gen-Probe, Inc.^*		193,082
	23,100	Immucor, Inc.^*		825,825
	12,800	Invacare Corp.		299,264
	17,200	Kindred Healthcare, Inc.^*		308,052
	3,100	Kyphon, Inc.^*		217,000
	10,500	Medcath Corporation^*		288,330
	13,000	Mentor Corp. ^(a)		598,650
	6,699	PharMerica Corp.^* ^(a)		99,949
	5,100	Regeneration Technologies, Inc.^*		54,672


Shares		Description	Value
Common Stocks — (continued)
Health Care Equipment & Services — (continued)
	5,800	Sonic Innovations, Inc.^*	$	53,186
	16,400	West Pharmaceutical Services, Inc.		683,224
	19,678	Zoll Medical Corp.^*		510,054

				9,882,629

Household & Personal Products — 0.4%
	100	Alberto-Culver Co.		2,479
	100	Energizer Holdings, Inc.^*		11,085
	15,100	NBTY, Inc.^*		613,060

				626,624

Insurance — 3.9%
	14,150	American Physicians Capital, Inc.		551,284
	87,500	Aspen Insurance Holdings Ltd.		2,442,125
	21,400	Assured Guaranty Ltd.		581,438
	10,900	Endurance Specialty Holdings Ltd.		452,895
	10,200	LandAmerica Financial Group, Inc.		397,596
	23,800	Max Capital Group Ltd.		667,352
	1,300	National Western Life Insurance Co. Class A		332,748
	800	NYMAGIC, Inc.		22,248
	9,300	Platinum Underwriters Holdings Ltd.		334,428
	12,900	Reinsurance Group of America, Inc.		731,301
	200	Universal American Financial Corp.^*		4,562

				6,517,977

Materials — 5.8%
	800	Ashland, Inc.		48,168
	400	Brush Engineered Materials, Inc.^*		20,756
	100	Buckeye Technologies, Inc.^*		1,514
	68,118	CF Industries Holdings, Inc.		5,170,837
	13,000	Innospec, Inc.		296,140
	4,100	LSB Industries, Inc.^* ^(a)		96,965
	11,900	OM Group, Inc.^*		628,439
	40,200	Ryerson, Inc. ^(a)		1,356,348
	4,200	Schnitzer Steel Industries, Inc.		307,818
	56,583	Terra Industries, Inc.^*		1,768,785
	100	Tronox, Inc. Class B		903

				9,696,673

Media — 1.1%
	92,900	Belo Corp. Class A		1,612,744
	100	Cox Radio, Inc. Class A^*		1,305
	100	Harris Interactive, Inc.^*		431
	100	Hearst-Argyle Television, Inc.		2,596
	12,800	Lin TV Corp. Class A^*		166,528

				1,783,604

Pharmaceuticals, Biotechnology & Life Sciences — 8.1%
	6,700	Albany Molecular Research, Inc.^*		101,170
	15,200	Applera Corp.- Celera Group^*		213,712
	11,800	ArQule, Inc.^*		84,134
	1,100	Bradley Pharmaceuticals, Inc.^*		20,020
	45,800	Cambrex Corp.		498,762
	26,050	Caraco Pharmaceutical Laboratories Ltd.^*		397,262
	100	Cephalon, Inc.^*		7,306
	27,300	Cubist Pharmaceuticals, Inc.^*		576,849
	10,200	eResearch Technology, Inc.^*		116,178
	63,100	Exelixis, Inc.^*		668,229
	45,100	GenVec, Inc.^*		105,985
	1,000	GTx, Inc.^*		16,280
	17,300	Isis Pharmaceuticals, Inc.^*		258,981
	3,400	Metabolix, Inc.^*		82,484
	10,000	MGI Pharma, Inc.^*		277,800
	234,800	Millennium Pharmaceuticals, Inc.^*		2,383,220
	14,000	Omrix Biopharmaceuticals, Inc.^*		494,340
	1,800	PerkinElmer, Inc.		52,578
	30,800	PharmaNet Development Group, Inc.^*		894,124
	17,000	Pharmion Corp.^*		784,380
	18,100	Pozen, Inc.^*		200,186
	100	Rigel Pharmaceuticals, Inc.^*		943
	74,514	Savient Pharmaceuticals, Inc.^*		1,084,179
	19,700	SuperGen, Inc.^*		85,498
	9,700	Vanda Pharmaceuticals, Inc.^*		134,927

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRUCTURED SMALL CAP EQUITY FUND

Schedule of Investments (continued)

September 30, 2007 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Pharmaceuticals, Biotechnology & Life Sciences — (continued)
	32,100	Varian, Inc.^*	$	2,041,881
	64,200	Watson Pharmaceuticals, Inc.^*		2,080,080

				13,661,488

Real Estate — 4.0%
	1,100	Agree Realty Corp. (REIT)		34,474
	137,000	Alesco Financial, Inc. (REIT) ^(a)		674,040
	166,459	Anthracite Capital, Inc. (REIT) ^(a)		1,514,777
	4,900	BRE Properties (REIT)		274,057
	11,400	BRT Realty Trust (REIT)		197,676
	100	Douglas Emmett, Inc. (REIT)		2,473
	16,600	Entertainment Properties Trust (REIT)		843,280
	100	HCP, Inc. (REIT)		3,317
	15,400	HRPT Properties Trust (REIT)		152,306
	29,600	iStar Financial, Inc. (REIT)		1,006,104
	3,816	Jones Lang LaSalle, Inc.		392,132
	100	LTC Properties, Inc. (REIT)		2,367
	43,391	Medical Properties Trust, Inc. (REIT) ^(a)		577,968
	13,865	National Health Investors, Inc. (REIT)		428,567
	12,000	Potlatch Corp. (REIT)		540,360
	100	PS Business Parks, Inc. (REIT)		5,685
	15,000	Quadra Realty Trust, Inc.		142,950
	100	Realty Income Corp. (REIT)		2,795
	100	Regency Centers Corp. (REIT)		7,675

				6,803,003

Retailing — 5.0%
	29,300	1-800-FLOWERS.COM, Inc. Class A^*		339,587
	100	American Eagle Outfitters, Inc.		2,631
	64,500	Asbury Automotive Group, Inc.		1,277,745
	2,100	Big Lots, Inc.^*		62,664
	40,300	Blue Nile, Inc.^* ^(a)		3,793,036
	100	Dillards, Inc. Class A		2,183
	100	Haverty Furniture Cos., Inc.		877
	45,800	Jo-Ann Stores, Inc.^*		966,380
	100	OfficeMax, Inc.		3,427
	15,000	RadioShack Corp.		309,900
	22,700	Shutterfly, Inc.^*		724,357
	20,200	Sonic Automotive, Inc. Class A		483,588
	100	Syms Corp.		1,501
	18,800	Systemax, Inc. ^(a)		384,272

				8,352,148

Semiconductors & Semiconductor Equipment — 3.3%
	14,200	Advanced Energy Industries, Inc.^*		214,420
	5,900	Cohu, Inc.		110,625
	56,400	Exar Corp.^*		736,584
	100	Micrel, Inc.		1,080
	25,600	MIPS Technologies, Inc.^*		202,240
	9,200	Monolithic Power Systems, Inc.^*		233,680
	100	Novellus Systems, Inc.^*		2,726
	134,700	RF Micro Devices, Inc.^*		906,531
	18,900	Sigma Designs, Inc.^* ^(a)		911,736
	223,000	Skyworks Solutions, Inc.^*		2,015,920
	15,700	Teradyne, Inc.^*		216,660

				5,552,202

Software & Services — 9.5%
	22,700	Ansoft Corp.^*		748,646
	54,800	AsiaInfo Holdings, Inc.^*		496,488
	10,493	Authorize.Net Holdings, Inc.^*		184,992
	119,541	Captaris, Inc.^*		632,372
	64,400	Chordiant Software, Inc.^*		892,584
	11,100	Ciber, Inc.^*		86,691
	54,300	CMGI, Inc.^*		73,848
	100	Convergys Corp.^*		1,736
	1,200	Double-Take Software, Inc.^*		22,932
	500	Epicor Software Corp.^*		6,885
	18,600	Fair Isaac Corp.		671,646
	74,100	Greenfield Online, Inc.^*		1,130,025
	41,000	InfoSpace, Inc.		719,960
	97,138	Interwoven, Inc.^*		1,382,274


Shares		Description	Value
Common Stocks — (continued)
Software & Services — (continued)
	28,800	iPass, Inc.^* ^(a)	$	120,960
	8,200	Magma Design Automation, Inc.^*		115,374
	6,700	Manhattan Associates, Inc.^*		183,647
	3,500	MicroStrategy, Inc. Class A^*		277,690
	36,600	Novell, Inc.^*		279,624
	65,700	On2 Technologies, Inc.^* ^(a)		76,212
	9,800	Phoenix Technologies Ltd.^*		104,958
	139,411	RealNetworks, Inc.^*		945,207
	51,600	S1 Corp.^*		466,980
	100	Sohu.com, Inc.^*		3,771
	12,500	Switch & Data Facilities Co., Inc.^*		203,625
	61,900	Synchronoss Technologies, Inc.^*		2,603,514
	79,900	Synopsys, Inc.^*		2,163,692
	2,400	Taleo Corp. Class A^*		60,984
	2,900	TNS, Inc.		46,574
	100	Total System Services, Inc.		2,778
	6,400	VASCO Data Security International, Inc.^*		225,984
	53,500	Vignette Corp.^*		1,073,745

				16,006,398

Technology Hardware & Equipment — 6.9%
	41,524	Agilysis, Inc.		701,756
	24,100	Aruba Networks, Inc.^* ^(a)		482,000
	1,600	Avnet, Inc.^*		63,776
	20,900	Bell Microproducts, Inc.^*		129,998
	700	C-COR, Inc.^*		8,043
	6,100	Diebold, Inc.		277,062
	100	Ditech Networks, Inc.^*		527
	100	EMS Technologies, Inc.^*		2,453
	139,600	Immersion Corp.^* ^(a)		2,286,648
	20,000	Ingram Micro, Inc. Class A^*		392,200
	342	Insight Enterprises, Inc.^*		8,827
	14,500	Lexmark International, Inc. Class A^*		602,185
	19,800	Loral Space & Communications, Inc.^*		787,050
	36,900	Methode Electronics, Inc.		555,345
	9,900	Network Equipment Technologies, Inc.^*		143,550
	100	Newport Corp.^*		1,523
	110,600	Novatel Wireless, Inc.^*		2,505,090
	2,100	OSI Systems, Inc.^*		47,271
	8,600	PC Connection, Inc.^*		107,500
	19,500	Polycom, Inc.^*		523,770
	100	SYNNEX Corp.^*		2,056
	29,610	Tech Data Corp.^*		1,187,953
	230,600	UTStarcom, Inc.^* ^(a)		843,996

				11,660,579

Telecommunication Services — 3.0%
	7,200	Atlantic Tele-Network, Inc.		261,720
	28,000	Cbeyond, Inc.^*		1,142,120
	20,900	Centennial Communications Corp.^*		211,508
	5,500	Cogent Communications Group, Inc.^*		128,370
	100	Consolidated Communications Holdings, Inc.		1,961
	50,000	IDT Corp. Class B ^(a)		418,500
	28,200	NTELOS Holdings Corp.		830,772
	4,500	PAETEC Holding Corp.^*		56,115
	24,200	Premiere Global Services, Inc.^*		306,130
	200	Rural Cellular Corp. Class A^*		8,700
	13,100	SureWest Communications		327,631
	81,800	USA Mobility, Inc.^*		1,379,966

				5,073,493

Transportation — 1.3%
	5,200	Allegiant Travel Co.^*		157,664
	97,000	ExpressJet Holdings, Inc.^*		299,730
	3,900	Genco Shipping & Trading Ltd.		255,567
	7,300	J.B. Hunt Transport Services, Inc.		191,990
	53,200	Pinnacle Airlines Corp.^*		852,264
	8,600	Saia, Inc.^*		142,158
	5,700	TBS International Ltd.^*		235,125

				2,134,498

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRUCTURED SMALL CAP EQUITY FUND

Schedule of Investments (continued)

September 30, 2007 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Utilities — 1.1%
	100	Alliant Energy Corp.	$	3,832
	4,500	CMS Energy Corp.		75,690
	100	OGE Energy Corp.		3,310
	800	Oneok, Inc.		37,920
	19,700	Pepco Holdings, Inc.		533,476
	11,500	Portland General Electric Co.		319,700
	70,400	SEMCO Energy, Inc.^*		555,456
	9,700	Westar Energy, Inc.		238,232

				1,767,616

TOTAL COMMON STOCKS			$	167,247,407


Principal		Interest			Maturity
Amount		Rate			Date		Value
Short-Term Obligation — 0.1%
JPMorgan Chase Euro — Time Deposit
$	155,036		4.897	%		10/01/07	$	155,036

TOTAL INVESTMENTS BEFORE SECURITIES LENDING COLLATERAL							$	167,402,443


	Interest
Shares	Rate	Value
Securities Lending Collateral^(b) — 8.8%
Boston Global Investment Trust — Enhanced Portfolio
14,744,825	5.410%	$	14,744,825

TOTAL INVESTMENTS — 108.4%		$	182,147,268

LIABILITIES IN EXCESS OF OTHER ASSETS — (8.4)%			(14,118,967	)

NET ASSETS — 100.0%		$	168,028,301

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.

(b) Variable rate security. Interest rate disclosed is that which is in effect at September 30, 2007.

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 STRUCTURED SMALL CAP EQUITY FUND

Schedule of Investments (continued)

September 30, 2007 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FUTURES CONTRACTS — At September 30, 2007, the following futures contracts were open:

Number of

Settlement

Notional

Unrealized

Type

Contracts Long

Month

Value

Gain

Russell 2000 Index

December 2007

162,640

4,976

TAX INFORMATION — At September 30, 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	$	188,621,347

Gross unrealized gain		11,226,752
Gross unrealized loss		(17,700,831	)

Net unrealized security loss	$	(6,474,079	)

GOLDMAN SACHS VARIABLE INSURANCE TRUST FUNDS

Schedule of Investments (continued)

September 30, 2007 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS

Investment Valuation — Investments in equity securities and investment companies traded on a U.S. securities exchange or the NASDAQ system 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. The pricing services may use valuation models or matrix pricing, which considers yield or price with respect to comparable bonds, quotations from bond dealers or by reference to other securities that are considered comparable in such characteristics as rating, interest rate and maturity date, to determine the current value. 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.

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. While the independent service may not take into account market or security specific information, under the valuation procedures, these securities might also be fair valued by the adviser by taking into consideration market or security specific information, including, but are not limited to, corporate actions or events, market disruptions or governmental actions.

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, and have delayed settlements, and their prices may be more volatile than those of comparable securities in the U.S.

The Money Market Fund uses the amortized-cost method, as permitted by Rule 2a-7 under the Investment Company Act of 1940, 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.

GOLDMAN SACHS VARIABLE INSURANCE TRUST FUNDS

Schedule of Investments (continued)

September 30, 2007 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (CONTINUED)

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 September 30, 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.

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. In addition, the Fund’s credit exposure is to the underlying repurchase counterparties on a pro-rata basis. With the exception of certain transaction fees, the Fund is not subject to any expenses in relation to these investments

At September 30, 2007, the Money Market Fund had undivided interests in the following Joint Repurchase Agreement Account II, as follows:


Fund

Money Market	$	37,600,000

REPURCHASE AGREEMENTS


	Principal		Interest			Maturity		Maturity
Counterparty	Amount		Rate			Date		Value

ABN Amro, Inc.	$	2,000,000,000		5.14	%		10/01/07	$	2,000,856,667

Banc of America Securities LLC		2,000,000,000		5.10			10/01/07		2,000,850,000

Barclays Capital PLC		3,520,000,000		5.12			10/01/07		3,521,501,867

Bear Stearns		250,000,000		5.15			10/01/07		250,107,292

Citigroup Global Markets, Inc.		3,500,000,000		5.15			10/01/07		3,501,502,083

Credit Suisse Securities (USA) LLC		66,000,000		5.10			10/01/07		66,028,050

Deutsche Bank Securities, Inc.		2,926,000,000		5.10			10/01/07		2,927,243,550

Greenwich Capital Markets		500,000,000		5.10			10/01/07		500,212,500

UBS Securities LLC		1,700,000,000		5.07			10/01/07		1,700,718,250

UBS Securities LLC		766,700,000		5.10			10/01/07		767,025,847

Wachovia Bank		250,000,000		5.10			10/01/07		250,106,250

TOTAL	$	17,478,700,000						$	17,486,152,356

At September 30, 2007, the Joint Repurchase Agreement Account II was fully collateralized by Federal Farm Credit Bank, 3.100% to 6.900%, due 12/18/07 to 01/17/17; Federal Home Loan Bank, 4.500%, due 12/14/07; Federal Home Loan Mortgage Association, 3.000% to 15.000%, due 10/01/07 to 09/01/47; Federal National Mortgage Association, 3.500% to 10.000%, due 10/01/07 to 09/01/47; Government National Mortgage Association, 5.000% to 9.000%, due 10/15/09 to 08/15/37. The aggregate market value of the collateral, including accrued interest, was $17,886,309,218.

GOLDMAN SACHS VARIABLE INSURANCE TRUST FUNDS

Schedule of Investments (continued)

September 30, 2007 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (CONTINUED)

Securities Lending — Pursuant to exemptive relief granted by the 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.

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. Both the Funds and BGA receive compensation relating to the lending of the Funds’ securities.

Segregation Transactions — As set forth in the prospectus, 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 repayment of the original bond principal upon maturity and adjustments for interest income are 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/ JAMES A. McNAMARA, PRESIDENT/PRINCIPAL EXECUTIVE OFFICER

Date November 29, 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/ JAMES A. McNAMARA, PRESIDENT/PRINCIPAL EXECUTIVE OFFICER

Date November 29, 2007

By (Signature and Title)*				/s/ JOHN M. PERLOWSKI, TREASURER/PRINCIPAL FINANCIAL OFFICER

Date November 29, 2007

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


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


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



Tax Cost	$	501,095,370

Gross unrealized gain		80,074,137
Gross unrealized loss		(12,649,339	)

Net unrealized security gain	$	67,424,798



Tax Cost	$	501,388,897

Gross unrealized gain		57,238,857
Gross unrealized loss		(7,742,936	)

Net unrealized security gain	$	49,495,921



Tax Cost	$	1,803,627,944

Gross unrealized gain		226,038,050
Gross unrealized loss		(71,598,951	)

Net unrealized security gain	$	154,439,099


	As a % of
	Net Assets
Investments Industry Classifications †
Automobiles & Components		3.3	%
Banks		12.4
Capital Goods		5.3
Diversified Financials		7.9
Energy		8.3
Food, Beverage & Tobacco		8.6
Insurance		9.8
Materials		9.4
Pharmaceuticals, Biotechnology & Life Sciences		8.2
Retailing		3.3
Semiconductors & Semiconductor Equipment		3.4
Short-term Investments #		4.9
Software & Services		4.6
Telecommunication Services		7.0
Transportation		2.4
Utilities		3.5

TOTAL INVESTMENTS		102.3	%


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

#		Short-term investments include securities lending collateral.



Tax Cost	$	200,453,721

Gross unrealized gain		32,126,578
Gross unrealized loss		(6,732,360	)

Net unrealized security gain	$	25,394,218



Tax Cost	$	968,933,544

Gross unrealized gain		139,109,826
Gross unrealized loss		(23,455,535	)

Net unrealized security gain	$	115,654,291


Investment Company Act file number		811-08361