N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

GOLDMAN SACHS VARIABLE INSURANCE TRUST CAPITAL GROWTH FUND

Schedule of Investments

March 31, 2008 (Unaudited)


Shares		Description	Value
Common Stocks — 99.1%
Automobiles & Components — 1.1%
	275,600	Gentex Corp.	$	4,726,540

Capital Goods — 2.8%
	58,400	Rockwell Automation, Inc.		3,353,328
	81,030	United Technologies Corp.		5,576,484
	48,810	W.W. Grainger, Inc.		3,728,596

				12,658,408

Consumer Durables & Apparel — 6.1%
	160,100	Coach, Inc.*		4,827,015
	139,480	Fortune Brands, Inc.		9,693,860
	67,200	Harman International Industries, Inc.		2,925,888
	113,200	Mattel, Inc.		2,252,680
	315,400	Newell Rubbermaid, Inc.		7,213,198

				26,912,641

Diversified Financials — 5.6%
	17,000	CME Group, Inc.		7,974,700
	198,472	Discover Financial Services		3,248,986
	108,390	Moody’s Corp.^(a)		3,775,224
	87,400	Raymond James Financial, Inc.		2,008,452
	407,830	The Charles Schwab Corp.		7,679,439

				24,686,801

Energy — 13.8%
	150,100	Chesapeake Energy Corp.		6,927,115
	118,000	Hess Corp.		10,405,240
	251,100	Quicksilver Resources, Inc.*^(a)		9,172,683
	108,440	Schlumberger Ltd.		9,434,280
	129,320	Suncor Energy, Inc.		12,459,982
	181,700	Weatherford International Ltd.*		13,167,799

				61,567,099

Food, Beverage & Tobacco — 2.7%
	131,400	PepsiCo, Inc.		9,487,080
	40,200	Wm. Wrigley Jr. Co.		2,526,168

				12,013,248

Health Care Equipment & Services — 3.0%
	129,700	Baxter International, Inc.		7,499,254
	136,500	St. Jude Medical, Inc.*		5,895,435

				13,394,689

Household & Personal Products — 1.1%
	68,600	Procter & Gamble Co.		4,806,802

Media — 4.5%
	147,600	Comcast Corp. Class A		2,854,584
	86,711	Lamar Advertising Co. Class A*^(a)		3,115,526
	128,100	National CineMedia, Inc.		2,879,688
	169,225	The McGraw-Hill Companies, Inc.		6,252,864
	119,774	Viacom, Inc. Class B*		4,745,446

				19,848,108

Pharmaceuticals, Biotechnology & Life Sciences — 14.1%
	186,534	Amylin Pharmaceuticals, Inc.*^(a)		5,448,658
	131,990	Charles River Laboratories International, Inc.*		7,779,491
	90,700	Genentech, Inc.*		7,363,026
	185,753	Gilead Sciences, Inc.*		9,571,852
	105,600	Johnson & Johnson		6,850,272
	189,400	Merck & Co., Inc.		7,187,730
	382,400	Schering-Plough Corp.^(a)		5,510,384


Shares		Description	Value
Common Stocks — (continued)
Pharmaceuticals, Biotechnology & Life Sciences — (continued)
	130,200	Teva Pharmaceutical Industries Ltd. ADR	$	6,013,938
	123,200	Thermo Fisher Scientific, Inc.*		7,002,688

				62,728,039

Real Estate — 1.5%
	310,200	CB Richard Ellis Group, Inc. Class A*^(a)		6,712,728

Retailing — 4.8%
	33,000	Amazon.com, Inc.*		2,352,900
	54,900	J.C. Penney Co., Inc.		2,070,279
	463,540	Lowe’s Companies, Inc.		10,633,608
	126,700	Target Corp.		6,421,156

				21,477,943

Semiconductors & Semiconductor Equipment — 3.3%
	343,300	Intel Corp.		7,271,094
	246,279	Linear Technology Corp.		7,558,303

				14,829,397

Software & Services — 17.9%
	257,000	Activision, Inc.*		7,018,670
	6,100	Baidu.com ADR*		1,461,743
	150,040	Cognizant Technology Solutions Corp. Class A*		4,325,653
	214,425	Electronic Arts, Inc.*		10,704,096
	31,100	Equinix, Inc.*^(a)		2,067,839
	74,200	Fiserv, Inc.*		3,568,278
	133,600	Global Payments, Inc.		5,525,696
	25,110	Google, Inc. Class A*		11,060,202
	156,200	Iron Mountain, Inc.*		4,129,928
	587,168	Microsoft Corp.		16,663,828
	43,800	Visa, Inc. Class A*		2,731,368
	492,591	Western Union Co.		10,477,410

				79,734,711

Technology Hardware & Equipment — 12.8%
	83,500	Amphenol Corp. Class A		3,110,375
	65,600	Apple, Inc.*		9,413,600
	552,890	Cisco Systems, Inc.*		13,319,120
	203,100	Dell, Inc.*		4,045,752
	59,000	International Business Machines Corp.		6,793,260
	267,291	QUALCOMM, Inc.		10,958,931
	83,300	Research In Motion Ltd.*		9,348,759

				56,989,797

Telecommunication Services — 4.0%
	279,290	American Tower Corp. Class A*		10,950,961
	96,050	Crown Castle International Corp.*		3,312,764
	216,300	MetroPCS Communications, Inc.*		3,677,100

				17,940,825

TOTAL COMMON STOCKS			$	441,027,776


Principal		Interest			Maturity
Amount		Rate			Date	Value
Short-Term Obligation — 1.7%
JPMorgan Chase Euro — Time Deposit
$	7,742,532		2.023	%	04/01/08	$	7,742,532

TOTAL INVESTMENTS BEFORE SECURITIES LENDING COLLATERAL						$	448,770,308

GOLDMAN SACHS VARIABLE INSURANCE TRUST CAPITAL GROWTH FUND

Schedule of Investments (continued)

March 31, 2008 (Unaudited)


		Interest
Shares		Rate			Value
Securities Lending Collateral — 4.8%
Boston Global Investment Trust — Enhanced Portfolio^{^(b)}
	21,109,200		3.147	%	$	21,109,200

TOTAL INVESTMENTS — 105.6%					$	469,879,508

LIABILITIES IN EXCESS OF OTHER ASSETS — (5.6)%						(25,007,679	)

NET ASSETS — 100.0%					$	444,871,829

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 March 31, 2008.



Investment Abbreviation:
ADR		— American Depositary Receipt

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

March 31, 2008 (Unaudited)


Shares		Description	Value
Common Stocks — 94.4%
Automobiles & Components — 0.5%
	79,637	Johnson Controls, Inc.	$	2,691,731

Banks — 4.2%
	106,300	BB&T Corp.		3,407,978
	147,600	Comerica, Inc.		5,177,808
	233,383	KeyCorp		5,122,757
	46,000	SunTrust Banks, Inc.		2,536,440
	198,900	Synovus Financial Corp.		2,199,834
	159,726	Wachovia Corp.		4,312,602

				22,757,419

Capital Goods — 4.5%
	39,568	Caterpillar, Inc.^(a)		3,097,779
	393,999	General Electric Co.		14,581,903
	98,584	United Technologies Corp.		6,784,551

				24,464,233

Commercial Services & Supplies — 1.2%
	197,134	Waste Management, Inc.		6,615,817

Consumer Durables & Apparel — 1.8%
	130,068	Mattel, Inc.		2,588,353
	316,766	Newell Rubbermaid, Inc.		7,244,439

				9,832,792

Consumer Services — 0.5%
	138,297	H&R Block, Inc.		2,871,046

Diversified Financials — 10.5%
	187,363	AllianceBernstein Holding LP		11,875,067
	347,225	Bank of America Corp.		13,163,300
	395,161	Citigroup, Inc.		8,464,349
	378,075	JPMorgan Chase & Co.		16,238,321
	71,500	Merrill Lynch & Co., Inc.		2,912,910
	94,339	Morgan Stanley		4,311,292

				56,965,239

Energy — 18.6%
	281,510	Devon Energy Corp.		29,369,938
	24,000	EOG Resources, Inc.		2,880,000
	187,842	Exxon Mobil Corp.		15,887,677
	160,873	Hess Corp.		14,185,781
	105,086	Occidental Petroleum Corp.		7,689,143
	505,147	The Williams Companies, Inc.		16,659,748
	58,841	Transocean, Inc.		7,955,303
	213,630	Williams Partners LP		6,729,345

				101,356,935

Food & Staples Retailing — 0.4%
	75,321	SUPERVALU, Inc.		2,258,123

Food, Beverage & Tobacco — 9.1%
	196,902	Altria Group, Inc.		4,371,225
	186,512	ConAgra Foods, Inc.		4,466,962
	196,902	Philip Morris International, Inc.^*		9,959,303
	34,418	Reynolds American, Inc.		2,031,695
	56,867	The Coca-Cola Co.		3,461,494
	748,526	Unilever NV		25,247,782

				49,538,461

Health Care Equipment & Services — 2.7%
	258,909	Baxter International, Inc.		14,970,118

Household & Personal Products — 0.3%
	32,837	The Clorox Co.		1,859,888


Shares		Description	Value
Common Stocks — (continued)
Insurance — 4.8%
	145,338	American International Group, Inc.	$	6,285,869
	69,729	Hartford Financial Services Group, Inc.		5,283,366
	38,988	PartnerRe Ltd.		2,974,784
	122,628	The Allstate Corp.		5,893,502
	124,412	The Travelers Companies, Inc.		5,953,114

				26,390,635

Materials — 2.6%
	76,500	Air Products & Chemicals, Inc.		7,038,000
	102,900	Nucor Corp.		6,970,446

				14,008,446

Media — 4.3%
	538,500	Comcast Corp. Class A		10,414,590
	911,457	Time Warner, Inc.		12,778,627

				23,193,217

Pharmaceuticals, Biotechnology & Life Sciences — 6.3%
	135,374	Abbott Laboratories		7,465,876
	264,027	Johnson & Johnson		17,127,431
	183,957	Pfizer, Inc.		3,850,220
	141,202	Wyeth		5,896,596

				34,340,123

Real Estate Investment Trust — 3.2%
	85,500	Annaly Capital Management, Inc.		1,309,860
	109,727	Apartment Investment & Management Co.		3,929,324
	53,795	Camden Property Trust		2,700,509
	373,964	DCT Industrial Trust, Inc.		3,724,682
	45,139	Pennsylvania Real Estate Investment Trust		1,100,940
	132,400	Realty Income Corp.^(a)		3,392,088
	15,501	Vornado Realty Trust		1,336,341

				17,493,744

Retailing — 0.6%
	86,036	J.C. Penney Co., Inc.		3,244,417

Software & Services — 1.2%
	109,300	Visa, Inc. Class A^*		6,815,948

Technology Hardware & Equipment — 2.7%
	220,893	Hewlett-Packard Co.		10,085,974
	38,300	International Business Machines Corp.		4,409,862

				14,495,836

Telecommunication Services — 4.5%
	468,471	AT&T, Inc.		17,942,439
	983,043	Sprint Nextel Corp.		6,576,558

				24,518,997

Utilities — 9.9%
	65,409	American Electric Power Co., Inc.		2,722,977
	46,901	Edison International		2,299,087
	169,154	Entergy Corp.		18,451,318
	97,239	Equitable Resources, Inc.		5,727,377
	58,323	Exelon Corp.		4,739,910
	87,035	FirstEnergy Corp.		5,972,342
	108,430	PG&E Corp.		3,992,392
	208,789	PPL Corp.		9,587,591

GOLDMAN SACHS VARIABLE INSURANCE TRUST GROWTH AND INCOME FUND

Schedule of Investments (continued)

March 31, 2008 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Utilities — (continued)
	6,700	SCANA Corp.	$	245,086

				53,738,080

TOTAL COMMON STOCKS			$	514,421,245


			Interest
Shares			Rate		Value
Preferred Stock — 0.4%
	96,500	Freddie Mac Series Z		8.375%	$	2,354,600


Principal		Interest			Maturity
Amount		Rate			Date		Value
Short-Term Obligation — 4.0%
JPMorgan Chase Euro — Time Deposit
$	21,693,426		2.023	%		04/01/08	$	21,693,426

TOTAL INVESTMENTS BEFORE SECURITIES LENDING COLLATERAL							$	538,469,271


		Interest
Shares		Rate			Value
Securities Lending Collateral — 1.0%
Boston Global Investment Trust — Enhanced Portfolio^(b)
	5,265,750		3.147	%	$	5,265,750

TOTAL INVESTMENTS — 99.8%					$	543,735,021

OTHER ASSETS IN EXCESS OF LIABILITIES — 0.2%						1,121,229

NET ASSETS — 100.0%					$	544,856,250

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 March 31, 2008.

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 MID CAP VALUE FUND

Schedule of Investments

March 31, 2008 (Unaudited)


Shares		Description	Value
Common Stocks — 98.3%
Automobiles & Components — 2.2%
	206,334	BorgWarner, Inc.	$	8,878,552
	583,959	Johnson Controls, Inc.		19,737,814
	186,182	Tenneco, Inc.*		5,201,925

				33,818,291

Banks — 5.3%
	410,100	Comerica, Inc.		14,386,308
	286,605	Commerce Bancshares, Inc.		12,046,008
	545,845	Hudson City Bancorp, Inc.		9,650,540
	599,267	KeyCorp		13,153,911
	135,057	M&T Bank Corp.		10,869,387
	611,000	Synovus Financial Corp.		6,757,660
	461,308	Webster Financial Corp.		12,856,654

				79,720,468

Capital Goods — 4.4%
	79,340	Alliant Techsystems, Inc.*		8,214,070
	119,804	Chicago Bridge & Iron Co. NV		4,701,109
	184,894	Cooper Industries Ltd. Class A		7,423,494
	158,581	Eaton Corp.		12,634,148
	227,717	KBR, Inc.		6,314,592
	246,871	Lennox International, Inc.		8,879,950
	205,554	Parker Hannifin Corp.		14,238,726
	81,130	Rockwell Collins, Inc.		4,636,580

				67,042,669

Commercial Services & Supplies — 1.9%
	2,081,615	Allied Waste Industries, Inc.*		22,502,258
	230,900	Monster Worldwide, Inc.*		5,590,089

				28,092,347

Consumer Durables & Apparel — 3.8%
	237,280	Fortune Brands, Inc.		16,490,960
	80,600	M.D.C. Holdings, Inc.		3,529,474
	485,840	Mattel, Inc.		9,668,216
	951,186	Newell Rubbermaid, Inc.		21,753,624
	11,200	NVR, Inc.*		6,692,000

				58,134,274

Consumer Services — 1.2%
	888,403	H&R Block, Inc.		18,443,246

Diversified Financials — 3.0%
	378,085	CIT Group, Inc.		4,480,307
	117,926	Lazard Ltd. Class A		4,504,773
	162,837	Legg Mason, Inc.		9,115,616
	295,566	Northern Trust Corp.		19,646,272
	480,100	SLM Corp.*		7,369,535

				45,116,503

Energy — 15.3%
	610,257	Hess Corp.		53,812,462
	236,360	Oil States International, Inc.*		10,591,292
	33,300	Petroleum Development Corp.*		2,306,691
	500,500	Quicksilver Resources, Inc.*		18,283,265
	956,074	Range Resources Corp.		60,662,895
	196,300	Smith International, Inc.		12,608,349
	1,570,375	The Williams Companies, Inc.		51,790,967
	322,829	W-H Energy Services, Inc. Class H*		22,226,777

				232,282,698

Food & Staples Retailing — 2.2%
	343,302	Safeway, Inc.		10,075,914


Shares		Description	Value
Common Stocks — (continued)
Food & Staples Retailing — (continued)
	789,996	SUPERVALU, Inc.	$	23,684,080

				33,759,994

Food, Beverage & Tobacco — 3.4%
	244,172	Campbell Soup Co.		8,289,639
	283,682	Coca-Cola Enterprises, Inc.		6,865,104
	671,882	ConAgra Foods, Inc.		16,091,574
	129,329	General Mills, Inc.		7,744,221
	93,158	Loews Corp. — Carolina Group		6,758,613
	104,272	Reynolds American, Inc.		6,155,176

				51,904,327

Health Care Equipment & Services — 3.5%
	79,565	Coventry Health Care, Inc.*		3,210,448
	307,668	Edwards Lifesciences Corp.*		13,706,609
	81,312	Health Net, Inc.*		2,504,410
	570,350	IMS Health, Inc.		11,983,054
	300,446	Laboratory Corp. of America Holdings*		22,136,861

				53,541,382

Household & Personal Products — 1.8%
	41,500	Energizer Holdings, Inc.*		3,754,920
	422,739	The Clorox Co.		23,943,937

				27,698,857

Insurance — 9.3%
	234,657	Assurant, Inc.		14,281,225
	209,389	Everest Re Group Ltd.		18,746,597
	521,800	Genworth Financial, Inc. Class A		11,813,552
	196,900	Lincoln National Corp.		10,238,800
	190,398	PartnerRe Ltd.		14,527,367
	296,772	Philadelphia Consolidated Holding Corp.*		9,556,059
	156,100	Principal Financial Group, Inc.		8,697,892
	137,941	RenaissanceRe Holdings Ltd.		7,160,517
	134,416	Torchmark Corp.		8,079,746
	555,218	Unum Corp.		12,220,348
	288,286	W. R. Berkley Corp.		7,982,639
	378,552	Willis Group Holdings Ltd.		12,723,133
	151,132	XL Capital Ltd. Class A		4,465,951

				140,493,826

Materials — 5.8%
	315,696	Albemarle Corp.		11,529,218
	322,678	Celanese Corp. Class A		12,600,576
	93,100	CF Industries Holdings, Inc.		9,647,022
	218,682	Rockwood Holdings, Inc.*		7,166,209
	113,378	Rohm & Haas Co.		6,131,482
	449,166	Steel Dynamics, Inc.		14,840,445
	151,800	Temple-Inland, Inc.		1,930,896
	192,100	United States Steel Corp.		24,371,727

				88,217,575

Media — 1.5%
	585,400	Cablevision Systems Corp. Class A*		12,545,122
	3,905,971	Charter Communications, Inc. Class A*		3,327,887
	265,600	DISH Network Corp. Class A*		7,630,688

				23,503,697

GOLDMAN SACHS VARIABLE INSURANCE TRUST MID CAP VALUE FUND

Schedule of Investments (continued)

March 31, 2008 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Pharmaceuticals, Biotechnology & Life Sciences — 0.8%
	492,684	PerkinElmer, Inc.	$	11,947,587

Real Estate Investment Trust — 6.1%
	477,100	Annaly Capital Management, Inc.		7,309,172
	549,320	Apartment Investment & Management Co.		19,671,149
	154,300	Camden Property Trust		7,745,860
	792,195	DCT Industrial Trust, Inc.		7,890,262
	383,484	Highwoods Properties, Inc.		11,914,848
	22,635	Liberty Property Trust		704,175
	443,857	Pennsylvania Real Estate Investment Trust		10,825,673
	57,700	Realty Income Corp.		1,478,274
	296,596	Vornado Realty Trust		25,569,541

				93,108,954

Retailing — 1.3%
	329,601	J.C. Penney Co., Inc.		12,429,254
	233,819	Ross Stores, Inc.		7,005,217

				19,434,471

Semiconductors & Semiconductor Equipment — 0.4%
	293,267	Tessera Technologies, Inc.*		6,099,954

Software & Services — 2.1%
	623,614	Activision, Inc.*		17,030,898
	552,200	Intuit, Inc.*		14,914,922

				31,945,820

Technology Hardware & Equipment — 4.5%
	1,069,089	Amphenol Corp. Class A		39,823,565
	155,700	Lexmark International, Inc. Class A*		4,783,104
	1,114,334	Seagate Technology		23,334,154

				67,940,823

Telecommunication Services — 1.3%
	1,125,579	Cincinnati Bell, Inc.*^(a)		4,794,967
	364,465	Embarq Corp.		14,615,046

				19,410,013

Transportation — 1.4%
	134,433	Landstar System, Inc.		7,012,025
	176,989	Ryder System, Inc.		10,780,400
	318,468	Southwest Airlines Co.		3,949,003

				21,741,428

Utilities — 15.8%
	400,090	American Electric Power Co., Inc.		16,655,747
	295,692	CMS Energy Corp.		4,003,670
	67,978	Constellation Energy Group, Inc.		6,000,418
	1,007,934	DPL, Inc.		25,843,428
	514,114	Edison International		25,201,868
	401,245	Entergy Corp.		43,767,805
	289,495	Equitable Resources, Inc.		17,051,256
	310,897	FirstEnergy Corp.		21,333,752
	512,004	PG&E Corp.		18,851,987
	832,725	PPL Corp.		38,238,732
	43,947	SCANA Corp.		1,607,581
	150,222	Sempra Energy		8,003,828


Shares		Description	Value
Common Stocks — (continued)
Utilities — (continued)
	293,955	Wisconsin Energy Corp.	$	12,931,080

				239,491,152

TOTAL COMMON STOCKS			$	1,492,890,356


Principal		Interest			Maturity
Amount		Rate			Date	Value
Short-Term Obligation — 1.6%
JPMorgan Chase Euro — Time Deposit
$	24,187,227		2.023	%	04/01/08	$	24,187,227

TOTAL INVESTMENTS BEFORE SECURITIES LENDING COLLATERAL						$	1,517,077,583


		Interest
Shares		Rate			Value
Securities Lending Collateral — 0.0%
Boston Global Investment Trust — Enhanced Portfolio^(b)
	559,800		3.147	%	$	559,800

TOTAL INVESTMENTS — 99.9%					$	1,517,637,383

OTHER ASSETS IN EXCESS OF LIABILITIES — 0.1%						1,095,555

NET ASSETS — 100.0%					$	1,518,732,938

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 March 31, 2008.

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 STRATEGIC INTERNATIONAL EQUITY FUND

Schedule of Investments

March 31, 2008 (Unaudited)


Shares		Description	Value
Common Stocks — 98.5%
Australia — 4.9%
	287,586	BHP Billiton Ltd. (Materials)	$	9,450,366
	117,879	Macquarie Group Ltd. (Diversified Financials)^(a)		5,690,278

				15,140,644

Belgium — 3.4%
	118,767	InBev NV (Food, Beverage & Tobacco)		10,425,523

Cyprus — 2.1%
	404,460	Prosafe SE (Energy)^(a)		6,372,882

France — 13.9%
	89,830	BNP Paribas (Banks)		9,057,762
	120,656	Carrefour SA (Food & Staples Retailing)		9,309,992
	61,042	Ipsen SA (Pharmaceuticals, Biotechnology & Life Sciences)		3,468,477
	65,246	Renault SA (Automobiles & Components)		7,222,101
	51,134	Technip SA (Energy)		3,983,180
	83,928	Total SA (Energy)		6,217,722
	100,703	Vivendi (Media)		3,939,113

				43,198,347

Germany — 12.0%
	37,165	Allianz SE (Registered) (Insurance)		7,348,833
	41,855	Bilfinger & Berger AG (Capital Goods)		3,598,143
	79,821	Merck KGaA (Pharmaceuticals, Biotechnology & Life Sciences)^(a)		9,832,124
	20,513	Rheinmetall AG (Capital Goods)		1,448,017
	170,892	SAP AG (Software & Services)		8,490,662
	60,599	Siemens AG (Registered) (Capital Goods)		6,572,017

				37,289,796

Hong Kong — 4.9%
	359,000	China Mobile Ltd. (Telecommunication Services)		5,393,871
	616,000	Sun Hung Kai Properties Ltd. (Real Estate)		9,728,037

				15,121,908

India — 0.7%
	143,994	Indiabulls Financial Services Ltd. GDR (Registered S) (Diversified Financials)		1,573,855
	174,747	Indiabulls Securities GDR (Diversified Financials)*		586,526

				2,160,381

Italy — 3.5%
	240,743	Mediobanca SpA (Diversified Financials)		4,942,148
	905,591	UniCredito Italiano SpA (Banks)		6,067,663

				11,009,811

Japan — 15.6%
	564,000	Asahi Glass Co. Ltd. (Capital Goods)		6,257,649
	323,000	Matsushita Electric Industrial Co. Ltd. (Consumer Durables & Apparel)		7,021,054
	190,000	Mitsubishi Estate Co. Ltd. (Real Estate)		4,656,676
	431,700	Nomura Holdings, Inc. (Diversified Financials)		6,499,074
	285,100	Seven & I Holdings Co. Ltd. (Food & Staples Retailing)		7,235,686


Shares		Description	Value
Common Stocks — (continued)
Japan — (continued)
	532,000	Sumitomo Electric Industries Ltd. (Capital Goods)	$	6,800,698
	1,118,000	Sumitomo Metal Industries Ltd (Materials)		4,283,394
	113,300	Takeda Pharmaceutical Co. Ltd. (Pharmaceuticals, Biotechnology & Life Sciences)		5,687,896

				48,442,127

Luxembourg — 0.5%
	17,725	Millicom International Cellular SA SDR (Telecommunication Services)*^(a)		1,692,734

Mexico — 3.0%
	224,978	Wal-Mart de Mexico SAB de CV ADR (Food & Staples Retailing)^(b)		9,302,840

Netherlands — 4.5%
	403,240	Aegon NV (Insurance)		5,917,335
	102,051	Akzo Nobel NV (Materials)		8,188,137

				14,105,472

Norway — 2.2%
	48,722	Schibsted ASA (Media)		1,462,567
	177,518	StatoilHydro ASA (Energy)		5,325,711

				6,788,278

Russian — 3.9%
	148,165	Gazprom OAO ADR (Energy)		7,482,332
	1,669	Sberbank GDR (Banks)		571,754
	11,727	Sberbank GDR (Registered S) (Banks)*		4,017,353

				12,071,439

Singapore — 2.9%
	676,000	DBS Group Holdings Ltd. (Banks)		8,901,803

Spain — 2.2%
	236,012	Indra Sistemas SA (Software & Services)		6,796,985

Switzerland — 4.8%
	60,972	Roche Holding AG (Pharmaceuticals, Biotechnology & Life Sciences)		11,491,387
	113,210	UBS AG (Registered) (Diversified Financials)		3,296,456

				14,787,843

United Kingdom — 13.5%
	85,828	Anglo American PLC (Materials)		5,144,654
	1,456,789	BT Group PLC (Telecommunication Services)		6,289,231
	133,867	Cookson Group PLC (Capital Goods)		1,766,207
	358,372	Prudential PLC (Insurance)		4,731,714
	317,602	Shire PLC (Pharmaceuticals, Biotechnology & Life Sciences)		6,147,904
	1,151,187	Tesco PLC (Food & Staples Retailing)		8,676,035
	3,128,675	Vodafone Group PLC (Telecommunication Services)		9,299,756

				42,055,501

TOTAL COMMON STOCKS			$	305,664,314

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRATEGIC INTERNATIONAL EQUITY FUND

Schedule of Investments (continued)

March 31, 2008 (Unaudited)


Principal		Interest			Maturity
Amount		Rate			Date	Value
Short-Term Obligation — 1.1%
JPMorgan Chase Euro — Time Deposit
$	3,455,439		2.023	%	04/01/08	$	3,455,439

TOTAL INVESTMENTS BEFORE SECURITIES LENDING COLLATERAL						$	309,119,753


		Interest
Shares		Rate			Value
Securities Lending Collateral — 7.4%
Boston Global Investment Trust — Enhanced Portfolio^(c)
	22,828,975		3.147	%	$	22,828,975

TOTAL INVESTMENTS — 107.0%					$	331,948,728

LIABILITIES IN EXCESS OF OTHER ASSETS — (7.0)%						(21,593,798	)

NET ASSETS — 100.0%					$	310,354,930

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) All or a portion of security is segregated for initial margin requirements on futures transactions.



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

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 OPPORTUNITIES FUND

Schedule of Investments

March 31, 2008 (Unaudited)


Shares		Description	Value
Common Stocks — 99.1%
Automobiles & Components — 2.3%
	229,000	Gentex Corp.	$	3,927,350

Capital Goods — 6.3%
	31,200	Alliant Techsystems, Inc.^*		3,230,136
	2,900	First Solar, Inc.^*		670,306
	52,700	Kennametal, Inc.		1,550,961
	32,990	Rockwell Automation, Inc.		1,894,286
	30,900	Roper Industries, Inc.		1,836,696
	21,700	W.W. Grainger, Inc.		1,657,663

				10,840,048

Consumer Durables & Apparel — 10.0%
	135,400	Coach, Inc.^*		4,082,310
	63,210	Fortune Brands, Inc.		4,393,095
	65,100	Harman International Industries, Inc.		2,834,454
	113,100	Mattel, Inc.		2,250,690
	154,000	Newell Rubbermaid, Inc.		3,521,980

				17,082,529

Consumer Services — 1.1%
	80,400	Pinnacle Entertainment, Inc.^*		1,029,120
	17,950	Weight Watchers International, Inc.		831,623

				1,860,743

Diversified Financials — 6.1%
	164,200	Discover Financial Services		2,687,954
	73,300	Moody’s Corp.		2,553,039
	24,200	Nymex Holdings, Inc.		2,193,246
	130,200	Raymond James Financial, Inc.		2,991,996

				10,426,235

Energy — 13.7%
	78,800	Chesapeake Energy Corp.		3,636,620
	84,800	Continental Resources, Inc.^*		2,704,272
	9,200	Dresser-Rand Group, Inc.^*		282,900
	43,400	Hess Corp.		3,827,012
	103,000	Quicksilver Resources, Inc.^*		3,762,590
	70,310	Weatherford International Ltd.^*		5,095,366
	23,500	W-H Energy Services, Inc. Class H^*		1,617,975
	38,700	Whiting Petroleum Corp.^*		2,501,955

				23,428,690

Food, Beverage & Tobacco — 0.6%
	15,700	Wm. Wrigley Jr. Co.		986,588

Health Care Equipment & Services — 6.0%
	28,405	C.R. Bard, Inc.^(a)		2,738,242
	22,200	Laboratory Corp. of America Holdings^*		1,635,696
	59,900	Psychiatric Solutions, Inc.^*		2,031,808
	89,900	St. Jude Medical, Inc.^*		3,882,781

				10,288,527

Household & Personal Products — 1.3%
	32,100	Chattem, Inc.^*		2,129,514

Media — 3.0%
	386,000	Entravision Communications Corp. Class A^*		2,570,760
	44,900	Lamar Advertising Co. Class A^*^(a)		1,613,257
	45,200	National CineMedia, Inc.		1,016,096

				5,200,113

Pharmaceuticals, Biotechnology & Life Sciences — 6.3%
	133,600	Amylin Pharmaceuticals, Inc.^*^(a)		3,902,456


Shares		Description	Value
Common Stocks — (continued)
Pharmaceuticals, Biotechnology & Life Sciences — (continued)
	73,090	Charles River Laboratories International, Inc.^*	$	4,307,924
	46,320	Thermo Fisher Scientific, Inc.^*		2,632,829

				10,843,209

Real Estate — 2.2%
	173,100	CB Richard Ellis Group, Inc. Class A^*		3,745,884

Retailing — 6.0%
	46,300	Advance Auto Parts, Inc.		1,576,515
	38,800	J.C. Penney Co., Inc.		1,463,148
	89,600	Netflix, Inc.^*^(a)		3,104,640
	52,670	Urban Outfitters, Inc.^*		1,651,205
	101,300	Williams-Sonoma, Inc.		2,455,512

				10,251,020

Semiconductors & Semiconductor Equipment — 5.0%
	121,600	FormFactor, Inc.^*		2,322,560
	89,800	Linear Technology Corp.		2,755,962
	165,700	Tessera Technologies, Inc.^*		3,446,560

				8,525,082

Software & Services — 19.5%
	164,466	Activision, Inc.^*		4,491,566
	78,620	Cognizant Technology Solutions Corp. Class A^*		2,266,615
	64,500	Electronic Arts, Inc.^*		3,219,840
	55,700	Equinix, Inc.^*^(a)		3,703,493
	64,200	Fiserv, Inc.^*		3,087,378
	98,100	Global Payments, Inc.		4,057,416
	105,600	Iron Mountain, Inc.^*		2,792,064
	88,600	NeuStar, Inc. Class A^*		2,346,128
	50,900	Paychex, Inc.		1,743,834
	30,900	Salesforce.com, Inc.^*		1,788,183
	182,500	Western Union Co.		3,881,775

				33,378,292

Technology Hardware & Equipment — 4.2%
	99,620	Amphenol Corp. Class A		3,710,845
	70,800	Flir Systems, Inc.^*		2,130,372
	66,200	NetApp, Inc.^*		1,327,310

				7,168,527

Telecommunication Services — 4.3%
	73,200	American Tower Corp. Class A^*		2,870,172
	64,800	Crown Castle International Corp.^*		2,234,952
	131,400	MetroPCS Communications, Inc.^*		2,233,800

				7,338,924

Transportation — 1.2%
	37,600	C.H. Robinson Worldwide, Inc.		2,045,440

TOTAL COMMON STOCKS			$	169,466,715


Principal		Interest			Maturity
Amount		Rate			Date	Value
Short-Term Obligation — 0.7%
JPMorgan Chase Euro — Time Deposit
$	1,219,381		2.023	%	04/01/08	$	1,219,381

TOTAL INVESTMENTS BEFORE SECURITIES LENDING COLLATERAL						$	170,686,096

GOLDMAN SACHS VARIABLE INSURANCE TRUST GROWTH OPPORTUNITIES FUND

Schedule of Investments (continued)

March 31, 2008 (Unaudited)


		Interest
Shares		Rate			Value
Securities Lending Collateral^(b) — 7.9%
Boston Global Investment Trust — Enhanced Portfolio
	13,459,600		3.147	%	$	13,459,600

TOTAL INVESTMENTS — 107.7%					$	184,145,696

LIABILITIES IN EXCESS OF OTHER ASSETS — (7.7)%						(13,232,890	)

NET ASSETS — 100.0%					$	170,912,806

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 March 31, 2008.

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

March 31, 2008 (Unaudited)


Shares		Description	Value
Common Stocks — 98.0%
Automobiles & Components — 0.5%
	55,581	Ford Motor Co.^*	$	317,923
	14,600	General Motors Corp.^(a)		278,130
	6,500	Harley-Davidson, Inc.		243,750
	15,900	Johnson Controls, Inc.		537,420
	5,600	The Goodyear Tire & Rubber Co.^*		144,480

				1,521,703

Banks — 3.4%
	14,800	BB&T Corp.		474,488
	4,150	Comerica, Inc.		145,582
	16,298	Countrywide Financial Corp.		89,639
	26,100	Fannie Mae		686,952
	14,205	Fifth Third Bancorp		297,168
	3,400	First Horizon National Corp.^(a)		47,634
	16,842	Freddie Mac		426,439
	13,500	Hudson City Bancorp, Inc.		238,680
	9,949	Huntington Bancshares, Inc.		106,952
	10,400	KeyCorp		228,280
	2,000	M&T Bank Corp.		160,960
	6,800	Marshall & Ilsley Corp.		157,760
	2,000	MGIC Investment Corp.^(a)		21,060
	17,300	National City Corp.		172,135
	8,921	PNC Financial Services Group, Inc.		584,950
	18,225	Regions Financial Corp.		359,944
	9,185	Sovereign Bancorp, Inc.		85,604
	9,300	SunTrust Banks, Inc.		512,802
	45,580	U.S. Bancorp		1,474,969
	52,127	Wachovia Corp.		1,407,429
	23,340	Washington Mutual, Inc.^(a)		240,402
	87,797	Wells Fargo & Co.		2,554,893
	2,800	Zions Bancorp		127,540

				10,602,262

Capital Goods — 9.5%
	18,839	3M Co.		1,491,107
	16,471	Caterpillar, Inc.		1,289,515
	5,000	Cooper Industries Ltd. Class A		200,750
	5,400	Cummins, Inc.		252,828
	6,800	Danaher Corp.		517,004
	11,479	Deere & Co.		923,371
	5,250	Dover Corp.		219,345
	3,900	Eaton Corp.		310,713
	20,800	Emerson Electric Co.		1,070,368
	2,400	Fluor Corp.		338,784
	10,706	General Dynamics Corp.		892,559
	265,258	General Electric Co.		9,817,199
	3,300	Goodrich Corp.		189,783
	19,875	Honeywell International, Inc.		1,121,347
	10,900	Illinois Tool Works, Inc.		525,707
	7,400	Ingersoll-Rand Co. Ltd. Class A		329,892
	4,600	ITT Corp.		238,326
	3,200	Jacobs Engineering Group, Inc.^*		235,488
	3,400	L-3 Communications Holdings, Inc.		371,756
	9,182	Lockheed Martin Corp.		911,773
	10,200	Masco Corp.		202,266
	8,892	Northrop Grumman Corp.		691,887
	9,942	PACCAR, Inc.		447,390
	3,100	Pall Corp.		108,717


Shares		Description	Value
Common Stocks — (continued)
Capital Goods — (continued)
	4,563	Parker Hannifin Corp.	$	316,079
	3,700	Precision Castparts Corp.		377,696
	11,500	Raytheon Co.		743,015
	4,000	Rockwell Automation, Inc.		229,680
	4,360	Rockwell Collins, Inc.		249,174
	2,800	Terex Corp.^*		175,000
	6,600	Textron, Inc.		365,772
	20,523	The Boeing Co.		1,526,295
	3,500	The Manitowoc Co., Inc.		142,800
	4,676	Trane, Inc.		214,628
	12,687	Tyco International Ltd.		558,862
	26,174	United Technologies Corp.		1,801,295
	1,828	W.W. Grainger, Inc.		139,641

				29,537,812

Commercial Services & Supplies — 0.5%
	7,600	Allied Waste Industries, Inc.^*		82,156
	3,000	Avery Dennison Corp.		147,750
	3,800	Cintas Corp.		108,452
	3,550	Equifax, Inc.		122,404
	3,600	Monster Worldwide, Inc.^*		87,156
	5,800	Pitney Bowes, Inc.		203,116
	5,700	R.R. Donnelley & Sons Co.		172,767
	4,100	Robert Half International, Inc.		105,534
	13,335	Waste Management, Inc.		447,523

				1,476,858

Consumer Durables & Apparel — 1.0%
	1,600	Black & Decker Corp.		105,760
	2,700	Brunswick Corp.		43,119
	3,100	Centex Corp.		75,051
	9,800	Coach, Inc.^*		295,470
	7,100	D.R. Horton, Inc.		111,825
	7,500	Eastman Kodak Co.		132,525
	4,000	Fortune Brands, Inc.		278,000
	1,600	Harman International Industries, Inc.		69,664
	3,850	Hasbro, Inc.		107,415
	2,300	Jones Apparel Group, Inc.		30,866
	1,900	KB HOME		46,987
	4,300	Leggett & Platt, Inc.		65,575
	4,000	Lennar Corp. Class A		75,240
	2,600	Liz Claiborne, Inc.		47,190
	10,052	Mattel, Inc.		200,035
	7,233	Newell Rubbermaid, Inc.		165,419
	10,000	NIKE, Inc. Class B		680,000
	1,600	Polo Ralph Lauren Corp.		93,264
	5,900	Pulte Homes, Inc.		85,845
	1,700	Snap-On, Inc.		86,445
	2,100	The Stanley Works		100,002
	2,300	VF Corp.		178,273
	2,059	Whirlpool Corp.		178,680

				3,252,650

Consumer Services — 1.4%
	3,700	Apollo Group, Inc. Class A^*		159,840
	11,600	Carnival Corp.		469,568
	3,800	Darden Restaurants, Inc.		123,690
	8,500	H&R Block, Inc.		176,460
	8,200	International Game Technology		329,722

GOLDMAN SACHS VARIABLE INSURANCE TRUST EQUITY INDEX FUND

Schedule of Investments (continued)

March 31, 2008 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Consumer Services — (continued)
	8,400	Marriott International, Inc. Class A	$	288,624
	30,588	McDonald’s Corp.		1,705,893
	19,800	Starbucks Corp.^*		346,500
	5,100	Starwood Hotels & Resorts Worldwide, Inc.		263,925
	2,500	Wendy’s International, Inc.		57,650
	4,526	Wyndham Worldwide Corp.		93,598
	12,397	Yum! Brands, Inc.		461,292

				4,476,762

Diversified Financials — 7.9%
	5,300	American Capital Strategies Ltd.^(a)		181,048
	30,920	American Express Co.		1,351,822
	6,180	Ameriprise Financial, Inc.		320,433
	117,789	Bank of America Corp.		4,465,381
	30,215	Bank of New York Mellon Corp.		1,260,872
	9,736	Capital One Financial Corp.		479,206
	5,200	CIT Group, Inc.		61,620
	138,605	Citigroup, Inc.		2,968,919
	1,399	CME Group, Inc.		656,271
	12,617	Discover Financial Services		206,540
	12,000	E^Trade Financial Corp.^		46,320
	2,400	Federated Investors, Inc. Class B		93,984
	4,330	Franklin Resources, Inc.		419,967
	1,900	Intercontinental Exchange, Inc.^*		247,950
	4,300	Janus Capital Group, Inc.		100,061
	90,502	JPMorgan Chase & Co.		3,887,061
	3,700	Legg Mason, Inc.		207,126
	14,100	Lehman Brothers Holdings, Inc.		530,724
	4,600	Leucadia National Corp.		208,012
	25,803	Merrill Lynch & Co., Inc.		1,051,214
	5,700	Moody’s Corp.		198,531
	29,334	Morgan Stanley		1,340,564
	5,100	Northern Trust Corp.		338,997
	7,100	NYSE Euronext		438,141
	11,471	SLM Corp.^*		176,080
	10,167	State Street Corp.		803,193
	7,100	T. Rowe Price Group, Inc.		355,000
	3,052	The Bear Stearns Companies, Inc.		32,016
	24,486	The Charles Schwab Corp.		461,071
	10,502	The Goldman Sachs Group, Inc.^(b)		1,736,926

				24,625,050

Energy — 13.0%
	12,458	Anadarko Petroleum Corp.		785,228
	8,816	Apache Corp.		1,065,149
	8,093	Baker Hughes, Inc.		554,370
	7,600	BJ Services Co.		216,676
	5,900	Cameron International Corp.^*		245,676
	12,117	Chesapeake Energy Corp.		559,200
	55,292	Chevron Corp.		4,719,725
	41,597	ConocoPhillips		3,170,107
	4,800	Consol Energy, Inc.		332,112
	11,861	Devon Energy Corp.		1,237,458
	18,630	El Paso Corp.		310,003
	3,800	ENSCO International, Inc.		237,956
	6,585	EOG Resources, Inc.		790,200
	142,144	Exxon Mobil Corp.		12,022,540


Shares		Description	Value
Common Stocks — (continued)
Energy — (continued)
	23,244	Halliburton Co.	$	914,187
	7,400	Hess Corp.		652,532
	18,808	Marathon Oil Corp.		857,645
	5,000	Murphy Oil Corp.		410,700
	7,500	Nabors Industries Ltd.^*		253,275
	9,600	National-Oilwell Varco, Inc.^*		560,448
	7,100	Noble Corp.		352,657
	4,400	Noble Energy, Inc.		320,320
	21,900	Occidental Petroleum Corp.		1,602,423
	7,106	Peabody Energy Corp.		362,406
	3,900	Range Resources Corp.		247,455
	3,100	Rowan Companies, Inc.		127,658
	31,680	Schlumberger Ltd.		2,756,160
	5,200	Smith International, Inc.		333,996
	17,106	Spectra Energy Corp.		389,161
	3,100	Sunoco, Inc.		162,657
	3,500	Tesoro Corp.		105,000
	15,883	The Williams Companies, Inc.		523,821
	8,418	Transocean, Inc.		1,138,114
	14,513	Valero Energy Corp.		712,733
	8,900	Weatherford International Ltd.^*		644,983
	13,500	XTO Energy, Inc.		835,110

				40,509,841

Food & Staples Retailing — 2.6%
	11,612	Costco Wholesale Corp.		754,432
	38,024	CVS/Caremark Corp.		1,540,352
	11,900	Safeway, Inc.		349,265
	5,473	SUPERVALU, Inc.		164,080
	16,400	Sysco Corp.		475,928
	18,124	The Kroger Co.		460,350
	26,500	Walgreen Co.		1,009,385
	62,502	Wal-Mart Stores, Inc.^(a)		3,292,605
	3,700	Whole Foods Market, Inc.		121,989

				8,168,386

Food, Beverage & Tobacco — 5.6%
	55,939	Altria Group, Inc.		1,241,846
	19,343	Anheuser-Busch Companies, Inc.		917,825
	16,849	Archer-Daniels-Midland Co.		693,505
	2,200	Brown-Forman Corp. Class B		145,684
	6,100	Campbell Soup Co.		207,095
	7,900	Coca-Cola Enterprises, Inc.		191,180
	13,100	ConAgra Foods, Inc.		313,745
	4,900	Constellation Brands, Inc. Class A^*		86,583
	3,700	Dean Foods Co.		74,333
	8,900	General Mills, Inc.		532,932
	8,300	H.J. Heinz Co.		389,851
	7,100	Kellogg Co.		373,176
	40,819	Kraft Foods, Inc.		1,265,797
	3,300	McCormick & Co., Inc.		122,001
	3,500	Molson Coors Brewing Co. Class B		183,995
	3,900	Pepsi Bottling Group, Inc.		132,249
	42,675	PepsiCo, Inc.		3,081,135
	55,939	Philip Morris International, Inc.^*		2,829,395
	4,545	Reynolds American, Inc.		268,291
	19,000	Sara Lee Corp.		265,620
	52,790	The Coca-Cola Co.		3,213,327

GOLDMAN SACHS VARIABLE INSURANCE TRUST EQUITY INDEX FUND

Schedule of Investments (continued)

March 31, 2008 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Food, Beverage & Tobacco — (continued)
	4,600	The Hershey Co.	$	173,282
	7,500	Tyson Foods, Inc. Class A		119,625
	4,100	UST, Inc.		223,532
	5,750	Wm. Wrigley Jr. Co.		361,330

				17,407,334

Health Care Equipment & Services — 3.8%
	13,389	Aetna, Inc.		563,543
	4,500	AmerisourceBergen Corp.		184,410
	16,700	Baxter International, Inc.		965,594
	6,500	Becton, Dickinson and Co.		558,025
	35,806	Boston Scientific Corp.^*		460,823
	2,700	C.R. Bard, Inc.^(a)		260,280
	9,632	Cardinal Health, Inc.		505,776
	7,600	CIGNA Corp.		308,332
	4,100	Coventry Health Care, Inc.^*		165,435
	13,284	Covidien Ltd.		587,817
	6,700	Express Scripts, Inc.^*		430,944
	4,290	Hospira, Inc.^*		183,483
	4,500	Humana, Inc.^*		201,870
	5,240	IMS Health, Inc.		110,093
	3,000	Laboratory Corp. of America Holdings^*		221,040
	7,614	McKesson Corp.		398,745
	13,714	Medco Health Solutions, Inc.^*		600,536
	30,158	Medtronic, Inc.		1,458,743
	3,781	Patterson Companies, Inc.^*		137,250
	4,100	Quest Diagnostics, Inc.		185,607
	9,093	St. Jude Medical, Inc.^*		392,727
	6,400	Stryker Corp.		416,320
	13,250	Tenet Healthcare Corp.^*		74,995
	33,000	UnitedHealth Group, Inc.		1,133,880
	3,400	Varian Medical Systems, Inc.^*		159,256
	14,300	WellPoint, Inc.^*		631,059
	6,151	Zimmer Holdings, Inc.^*		478,917

				11,775,500

Household & Personal Products — 2.7%
	11,200	Avon Products, Inc.		442,848
	13,486	Colgate-Palmolive Co.		1,050,694
	11,340	Kimberly-Clark Corp.		731,997
	81,694	Procter & Gamble Co.		5,724,299
	3,700	The Clorox Co.		209,568
	2,900	The Estee Lauder Companies, Inc. Class A		132,965

				8,292,371

Insurance — 3.9%
	8,615	ACE Ltd.		474,342
	12,792	Aflac, Inc.		830,840
	2,900	AMBAC Financial Group, Inc.		16,675
	67,123	American International Group, Inc.		2,903,070
	7,550	Aon Corp.		303,510
	2,500	Assurant, Inc.		152,150
	4,368	Cincinnati Financial Corp.		166,159
	11,700	Genworth Financial, Inc. Class A		264,888
	8,400	Hartford Financial Services Group, Inc.		636,468
	7,046	Lincoln National Corp.		366,392
	11,500	Loews Corp.		462,530
	13,588	Marsh & McLennan Companies, Inc.		330,868


Shares		Description	Value
Common Stocks — (continued)
Insurance — (continued)
	3,750	MBIA, Inc.	$	45,825
	18,800	MetLife, Inc.		1,132,888
	6,932	Principal Financial Group, Inc.		386,251
	11,737	Prudential Financial, Inc.		918,420
	2,550	SAFECO Corp.		111,894
	15,038	The Allstate Corp.		722,726
	9,658	The Chubb Corp.		477,878
	18,900	The Progressive Corp.		303,723
	16,298	The Travelers Companies, Inc.		779,859
	2,300	Torchmark Corp.		138,253
	9,518	Unum Corp.		209,491
	4,900	XL Capital Ltd. Class A		144,795

				12,279,895

Materials — 3.5%
	5,800	Air Products & Chemicals, Inc.		533,600
	21,395	Alcoa, Inc.		771,504
	2,751	Allegheny Technologies, Inc.		196,311
	1,500	Ashland, Inc.		70,950
	2,600	Ball Corp.		119,444
	2,800	Bemis Co., Inc.		71,204
	23,738	E.I. du Pont de Nemours & Co.		1,109,989
	2,100	Eastman Chemical Co.		131,145
	4,812	Ecolab, Inc.		208,985
	10,055	Freeport-McMoRan Copper & Gold, Inc.		967,492
	3,500	Hercules, Inc.		64,015
	2,200	International Flavors & Fragrances, Inc.		96,910
	11,559	International Paper Co.		314,405
	4,698	MeadWestvaco Corp.		127,880
	14,454	Monsanto Co.		1,611,621
	12,088	Newmont Mining Corp.		547,586
	7,700	Nucor Corp.		521,598
	3,300	Pactiv Corp.^*		86,493
	4,300	PPG Industries, Inc.		260,193
	8,300	Praxair, Inc.		699,109
	3,475	Rohm & Haas Co.		187,928
	4,116	Sealed Air Corp.		103,929
	3,400	Sigma-Aldrich Corp.		202,810
	24,813	The Dow Chemical Co.		914,359
	2,500	Titanium Metals Corp.		37,625
	3,120	United States Steel Corp.		395,834
	2,700	Vulcan Materials Co.		179,280
	5,492	Weyerhaeuser Co.		357,200

				10,889,399

Media — 2.8%
	18,464	CBS Corp. Class B		407,685
	13,024	Clear Channel Communications, Inc.		380,561
	79,588	Comcast Corp. Class A		1,539,232
	5,971	Gannett Co., Inc.		173,458
	1,100	Meredith Corp.		42,075
	60,886	News Corp. Class A		1,141,613
	8,800	Omnicom Group, Inc.		388,784
	19,300	The DIRECTV Group, Inc.^*		478,447
	2,500	The E.W. Scripps Co. Class A		105,025
	12,071	The Interpublic Group of Companies, Inc.^*		101,517

GOLDMAN SACHS VARIABLE INSURANCE TRUST EQUITY INDEX FUND

Schedule of Investments (continued)

March 31, 2008 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Media — (continued)
	8,796	The McGraw-Hill Companies, Inc.	$	325,012
	4,200	The New York Times Co. Class A^(a)		79,296
	50,329	The Walt Disney Co.		1,579,324
	160	The Washington Post Co. Class B		105,840
	95,698	Time Warner, Inc.		1,341,686
	17,224	Viacom, Inc. Class B^*		682,415

				8,871,970

Pharmaceuticals, Biotechnology & Life Sciences — 7.7%
	41,100	Abbott Laboratories		2,266,665
	8,000	Allergan, Inc.		451,120
	28,708	Amgen, Inc.^*		1,199,420
	4,400	Applera Corp.-Applied Biosystems Group		144,584
	2,800	Barr Pharmaceuticals, Inc.^*		135,268
	7,885	Biogen Idec, Inc.^*		486,426
	52,838	Bristol-Myers Squibb Co.		1,125,449
	11,500	Celgene Corp.^*		704,835
	26,100	Eli Lilly & Co.		1,346,499
	8,400	Forest Laboratories, Inc.^*		336,084
	7,000	Genzyme Corp.^*		521,780
	24,600	Gilead Sciences, Inc.^*		1,267,638
	75,504	Johnson & Johnson		4,897,945
	6,966	King Pharmaceuticals, Inc.^*		60,604
	57,679	Merck & Co., Inc.		2,188,918
	1,500	Millipore Corp.^*		101,115
	7,500	Mylan Laboratories, Inc.^(a)		87,000
	3,300	PerkinElmer, Inc.		80,025
	179,318	Pfizer, Inc.		3,753,126
	42,546	Schering-Plough Corp.		613,088
	11,068	Thermo Fisher Scientific, Inc.^*		629,105
	2,700	Waters Corp.^*		150,390
	2,900	Watson Pharmaceuticals, Inc.^*		85,028
	35,500	Wyeth		1,482,480

				24,114,592

Real Estate — 1.2%
	2,418	Apartment Investment & Management Co. (REIT)		86,588
	2,100	AvalonBay Communities, Inc. (REIT)		202,692
	3,127	Boston Properties, Inc. (REIT)		287,903
	5,300	CB Richard Ellis Group, Inc. Class A^*		114,692
	3,400	Developers Diversified Realty Corp. (REIT)		142,392
	7,300	Equity Residential (REIT)		302,877
	6,500	General Growth Properties, Inc. (REIT)		248,105
	6,000	HCP, Inc. (REIT)		202,860
	14,300	Host Hotels & Resorts, Inc. (REIT)		227,656
	6,700	Kimco Realty Corp. (REIT)		262,439
	4,400	Plum Creek Timber Co., Inc. (REIT)		179,080
	6,900	ProLogis (REIT)		406,134
	3,300	Public Storage, Inc. (REIT)		292,446
	6,000	Simon Property Group, Inc. (REIT)		557,460
	3,600	Vornado Realty Trust (REIT)		310,356

				3,823,680

Retailing — 2.7%
	2,377	Abercrombie & Fitch Co. Class A		173,854
	8,168	Amazon.com, Inc.^*		582,378


Shares		Description	Value
Common Stocks — (continued)
Retailing — (continued)
	3,972	AutoNation, Inc.^*	$	59,461
	1,100	AutoZone, Inc.^*		125,213
	6,972	Bed Bath & Beyond, Inc.^*		205,674
	9,450	Best Buy Co., Inc.		391,797
	2,100	Big Lots, Inc.^*		46,830
	1,800	Dillard’s, Inc. Class A^(a)		30,978
	5,900	Expedia, Inc.^*		129,151
	4,100	Family Dollar Stores, Inc.		79,950
	4,100	GameStop Corp. Class A^*		212,011
	4,398	Genuine Parts Co.		176,887
	5,300	IAC/InterActiveCorp^*		110,028
	5,900	J.C. Penney Co., Inc.		222,489
	8,322	Kohl’s Corp.^*		356,931
	8,100	Limited Brands, Inc.		138,510
	38,400	Lowe’s Companies, Inc.		880,896
	11,834	Macy’s, Inc.		272,892
	5,000	Nordstrom, Inc.		163,000
	7,800	Office Depot, Inc.^*		86,190
	2,000	OfficeMax, Inc.		38,280
	3,700	RadioShack Corp.		60,125
	1,900	Sears Holdings Corp.^*		193,971
	18,697	Staples, Inc.		413,391
	22,000	Target Corp.		1,114,960
	12,650	The Gap, Inc.		248,952
	44,694	The Home Depot, Inc.		1,250,091
	2,900	The Sherwin-Williams Co.		148,016
	11,800	The TJX Companies, Inc.		390,226
	3,300	Tiffany & Co.		138,072

				8,441,204

Semiconductors & Semiconductor Equipment — 2.4%
	15,900	Advanced Micro Devices, Inc.^*^(a)		93,651
	7,674	Altera Corp.		141,432
	8,100	Analog Devices, Inc.		239,112
	36,200	Applied Materials, Inc.		706,262
	12,950	Broadcom Corp. Class A^*		249,546
	153,471	Intel Corp.		3,250,516
	5,025	KLA-Tencor Corp.		186,427
	5,800	Linear Technology Corp.		178,002
	17,900	LSI Logic Corp.^*		88,605
	6,100	MEMC Electronic Materials, Inc.^*		432,490
	4,900	Microchip Technology, Inc.		160,377
	20,843	Micron Technology, Inc.^*		124,433
	6,500	National Semiconductor Corp.		119,080
	3,265	Novellus Systems, Inc.^*		68,728
	15,050	NVIDIA Corp.^*		297,840
	5,000	Teradyne, Inc.^*		62,100
	35,158	Texas Instruments, Inc.		993,917
	8,000	Xilinx, Inc.		190,000

				7,582,518

Software & Services — 5.8%
	15,300	Adobe Systems, Inc.^*		544,527
	2,600	Affiliated Computer Services, Inc. Class A^*		130,286
	4,500	Akamai Technologies, Inc.^*		126,720
	6,000	Autodesk, Inc.^*		188,880
	13,800	Automatic Data Processing, Inc.		584,982

GOLDMAN SACHS VARIABLE INSURANCE TRUST EQUITY INDEX FUND

Schedule of Investments (continued)

March 31, 2008 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Software & Services — (continued)
	5,200	BMC Software, Inc.^*	$	169,104
	10,304	CA, Inc.		231,840
	5,100	Citrix Systems, Inc.^*		149,583
	7,900	Cognizant Technology Solutions Corp. Class A^*		227,757
	4,300	Computer Sciences Corp.^*		175,397
	7,300	Compuware Corp.^*		53,582
	4,000	Convergys Corp.^*		60,240
	29,344	eBay, Inc.^*		875,625
	8,200	Electronic Arts, Inc.^*		409,344
	13,382	Electronic Data Systems Corp.		222,810
	4,700	Fidelity National Information Services, Inc.		179,258
	4,350	Fiserv, Inc.^*		209,192
	6,189	Google, Inc. Class A^*		2,726,069
	8,900	Intuit, Inc.^*		240,389
	212,492	Microsoft Corp.		6,030,523
	9,600	Novell, Inc.^*		60,384
	104,711	Oracle Corp.^*		2,048,147
	9,031	Paychex, Inc.		309,402
	22,618	Symantec Corp.^*		375,911
	4,500	Total System Services, Inc.		106,470
	10,000	Unisys Corp.^*		44,300
	6,002	VeriSign, Inc.^*		199,507
	20,234	Western Union Co.		430,377
	35,200	Yahoo!, Inc.^*		1,018,336

				18,128,942

Technology Hardware & Equipment — 7.2%
	9,396	Agilent Technologies, Inc.^*		280,283
	23,258	Apple, Inc.^*		3,337,523
	2,385	Ciena Corp.^*		73,530
	158,820	Cisco Systems, Inc.^*		3,825,974
	41,625	Corning, Inc.		1,000,665
	59,100	Dell, Inc.^*		1,177,272
	55,209	EMC Corp.^*		791,697
	65,589	Hewlett-Packard Co.		2,994,794
	36,925	International Business Machines Corp.		4,251,544
	5,000	Jabil Circuit, Inc.		47,300
	6,125	JDS Uniphase Corp.^*		82,014
	14,100	Juniper Networks, Inc.^*		352,500
	2,400	Lexmark International, Inc. Class A^*		73,728
	3,825	Molex, Inc.		88,587
	61,435	Motorola, Inc.		571,345
	9,200	NetApp, Inc.^*		184,460
	3,300	QLogic Corp.^*		50,655
	42,639	QUALCOMM, Inc.		1,748,199
	6,200	SanDisk Corp.^*		139,934
	20,514	Sun Microsystems, Inc.^*		318,582
	12,400	Tellabs, Inc.^*		67,580
	4,700	Teradata Corp.^*		103,682
	13,398	Tyco Electronics Ltd.		459,819
	24,100	Xerox Corp.		360,777

				22,382,444

Telecommunication Services — 3.4%
	10,600	American Tower Corp. Class A^*		415,626
	160,642	AT&T, Inc.		6,152,589


Shares		Description	Value
Common Stocks — (continued)
Telecommunication Services — (continued)
	2,800	CenturyTel, Inc.	$	93,072
	8,400	Citizens Communications Co.		88,116
	4,040	Embarq Corp.		162,004
	43,463	Qwest Communications International, Inc.		196,887
	75,710	Sprint Nextel Corp.		506,500
	76,630	Verizon Communications, Inc.		2,793,163
	12,481	Windstream Corp.		149,148

				10,557,105

Transportation — 2.0%
	7,822	Burlington Northern Santa Fe Corp.		721,345
	4,300	C.H. Robinson Worldwide, Inc.		233,920
	10,562	CSX Corp.		592,211
	5,800	Expeditors International of Washington, Inc.		262,044
	8,200	FedEx Corp.		759,894
	9,835	Norfolk Southern Corp.		534,237
	1,500	Ryder System, Inc.		91,365
	19,618	Southwest Airlines Co.		243,263
	6,900	Union Pacific Corp.		865,122
	27,375	United Parcel Service, Inc. Class B		1,998,923

				6,302,324

Utilities — 3.5%
	17,900	AES Corp.^*		298,393
	4,400	Allegheny Energy, Inc.		222,200
	5,600	Ameren Corp.		246,624
	10,740	American Electric Power Co., Inc.		447,106
	8,698	CenterPoint Energy, Inc.		124,120
	6,400	CMS Energy Corp.		86,656
	7,300	Consolidated Edison, Inc.		289,810
	4,750	Constellation Energy Group, Inc.		419,283
	15,547	Dominion Resources, Inc.		634,939
	4,300	DTE Energy Co.		167,227
	33,213	Duke Energy Corp.		592,852
	11,397	Dynegy, Inc. Class A^*		89,922
	8,469	Edison International		415,150
	5,148	Entergy Corp.		561,544
	17,481	Exelon Corp.		1,420,681
	8,148	FirstEnergy Corp.		559,116
	10,846	FPL Group, Inc.^(a)		680,478
	2,031	Integrys Energy Group, Inc.		94,726
	1,400	Nicor, Inc.		46,914
	7,600	NiSource, Inc.		131,024
	5,500	Pepco Holdings, Inc.		135,960
	9,531	PG&E Corp.		350,931
	2,700	Pinnacle West Capital Corp.		94,716
	9,651	PPL Corp.		443,174
	6,877	Progress Energy, Inc.		286,771
	13,600	Public Service Enterprise Group, Inc.		546,584
	4,600	Questar Corp.		260,176
	6,913	Sempra Energy		368,325
	20,000	Southern Co.		712,200
	5,300	TECO Energy, Inc.		84,535

GOLDMAN SACHS VARIABLE INSURANCE TRUST EQUITY INDEX FUND

Schedule of Investments (continued)

March 31, 2008 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Utilities — (continued)
	11,110	Xcel Energy, Inc.	$	221,645

				11,033,782

TOTAL COMMON STOCKS			$	306,054,384


Principal		Interest			Maturity
Amount		Rate			Date	Value
U.S. Government Obligation — 0.1%
United States Treasury Bill^(c)
$	412,000		1.556	%	06/12/08	$	411,007


Short-Term Obligation — 1.6%
JPMorgan Chase Euro — Time Deposit
$	5,143,498		2.023	%	04/01/08	$	5,143,498

TOTAL INVESTMENTS BEFORE SECURITIES LENDING COLLATERAL						$	311,608,889


		Interest
Shares		Rate			Value
Securities Lending Collateral^(d) — 1.4%
Boston Global Investment Trust — Enhanced Portfolio
	4,365,875		3.147	%	$	4,365,875

TOTAL INVESTMENTS — 101.1%					$	315,974,764

LIABILITIES IN EXCESS OF OTHER ASSETS — (1.1)%						(3,551,996	)

NET ASSETS — 100.0%					$	312,422,768

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) Represents an affiliated issuer.

(d) Variable rate security. Interest rate disclosed is that which is in effect at March 31, 2008.



Investment Abbreviation:
REIT		— Real Estate Investment Trust

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 CORE FIXED INCOME FUND

Schedule of Investments

March 31, 2008 (Unaudited)


Principal		Interest			Maturity
Amount		Rate			Date	Value
Corporate Bonds — 24.1%
Agriculture — 0.3%
Cargill, Inc.^(a)
$	675,000		6.000	%	11/27/17	$	680,839

Banks — 6.0%
ANZ Capital Trust^(a)
	500,000		4.484		01/29/49		494,161
Bank of America Corp.
	375,000		5.750		12/01/17		385,263
Bank of America Corp.^(b)
	875,000		8.000		12/31/49		876,050
Citigroup, Inc.
	900,000		5.850		07/02/13		913,573
	600,000		6.875		03/05/38		585,785
ING Capital Funding Trust III^(b)
	250,000		8.439		12/29/49		245,871
JP Morgan Chase & Co.
	875,000		6.000		01/15/18		912,468
JPMorgan Chase Bank NA
	400,000		6.000		10/01/17		416,889
MUFG Capital Finance 1 Ltd.^(b)
	525,000		6.346		07/29/49		420,000
Nordea Bank Sweden AB^(a)^(b)
	2,100,000		8.950		11/29/49		2,217,325
PNC Bank NA
	325,000		6.875		04/01/18		330,513
Popular North America, Inc.
	1,425,000		5.650		04/15/09		1,428,909
Resona Bank Ltd.^(a)^(b)
	1,250,000		5.850		09/29/49		1,038,763
Resona Preferred Global Securities Cayman Ltd.^(a)^(b)
	325,000		7.191		12/29/49		283,832
Royal Bank of Scotland Group PLC^(a)^(b)
	300,000		6.990		10/29/49		254,670
Santander Issuances SA^(a)^(b)
	200,000		5.805		06/20/16		198,464
Tokai Preferred Capital Co. LLC^(a)^(b)
	1,250,000		9.980		12/29/49		1,255,696
VTB Capital SA (Vneshtorgbank)^(a)^(b)
	980,000		3.839		08/01/08		968,975
Wachovia Corp.
	300,000		5.750		02/01/18		293,845
Wells Fargo & Co.
	1,200,000		4.375		01/31/13		1,200,547
	150,000		5.625		12/11/17		153,429

							14,875,028

Brokerage — 1.9%
Bear Stearns Companies, Inc.
	500,000		6.400		10/02/17		492,500
	475,000		7.250		02/01/18		487,469
Lehman Brothers Holdings Capital Trust V^(b)
	250,000		5.857		11/29/49		158,125
Lehman Brothers Holdings, Inc.
	550,000		5.375		10/17/12		765,983
	150,000		5.625		01/24/13		145,855
	550,000		6.200		09/26/14		542,635
Merrill Lynch & Co., Inc.
	450,000		5.450		02/05/13		440,367
	325,000		6.400		08/28/17		320,713


Principal		Interest			Maturity
Amount		Rate			Date	Value
Corporate Bonds — (continued)
Brokerage — (continued)
Morgan Stanley
$	275,000		5.750	%	08/31/12	$	278,044
	400,000		5.950		12/28/17		386,548
	675,000		6.625		04/01/18		681,031

							4,699,270

Diversified Manufacturing — 0.1%
Tyco Electronics Group SA^(a)
	225,000		6.000		10/01/12		231,566

Diversified Media — 0.3%
News America, Inc.^(a)
	675,000		6.650		11/15/37		676,168

Electric — 2.6%
Arizona Public Service Co.
	250,000		6.375		10/15/11		257,643
	350,000		6.250		08/01/16		337,176
CenterPoint Energy, Inc. Series B
	1,000,000		7.250		09/01/10		1,062,681
Commonwealth Edison Co.
	250,000		5.875		02/01/33		225,299
	300,000		5.900		03/15/36		269,990
MidAmerican Energy Holdings Co.
	1,250,000		7.520		09/15/08		1,269,276
	750,000		6.125		04/01/36		728,446
Pacific Gas & Electric Co.
	1,800,000		6.050		03/01/34		1,754,927
Progress Energy, Inc.
	200,000		5.625		01/15/16		203,040
	350,000		7.000		10/30/31		377,788

							6,486,266

Energy — 0.9%
Canadian Natural Resources Ltd.
	225,000		5.700		05/15/17		225,268
	50,000		5.850		02/01/35		45,217
	400,000		6.500		02/15/37		391,511
	75,000		6.250		03/15/38		71,347
EnCana Corp.
	625,000		6.500		02/01/38		613,029
Kerr-McGee Corp.
	550,000		6.950		07/01/24		586,207
Transocean, Inc.
	375,000		6.800		03/15/38		383,085

							2,315,664

Entertainment — 0.1%
Time Warner Entertainment Co. LP
	225,000		8.375		03/15/23		249,050

Environmental — 0.3%
Waste Management, Inc.
	750,000		7.375		08/01/10		790,857

Financial Companies — 1.3%
American General Finance Corp.
	275,000		5.900		09/15/12		271,796
Countrywide Home Loans, Inc.
	450,000		6.250		04/15/09		421,875
	150,000		5.625		07/15/09		139,500
	300,000		4.125		09/15/09		276,000
GATX Financial Corp.
	1,000,000		8.875		06/01/09		1,050,570
International Lease Finance Corp.
	275,000		4.950		02/01/11		271,174

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments (continued)

March 31, 2008 (Unaudited)


Principal		Interest			Maturity
Amount		Rate			Date	Value
Corporate Bonds — (continued)
Financial Companies — (continued)
Residential Capital LLC
$	375,000		7.625	%	11/21/08	$	258,750
	100,000		8.500		04/17/13		48,500
SLM Corp.
	600,000		5.400		10/25/11		469,224

							3,207,389

Food & Beverage — 0.1%
Kraft Foods, Inc.
	275,000		6.500		08/11/17		282,169

Food & Drug Retail — 0.3%
Marks & Spencer PLC^(a)
	300,000		6.250		12/01/17		296,166
	400,000		7.125		12/01/37		365,248

							661,414

Healthcare — 0.3%
UnitedHealth Group, Inc.
	800,000		5.500		11/15/12		811,984

Life Insurance — 0.3%
American International Group, Inc.
	125,000		6.250		03/15/37		98,785
Phoenix Life Insurance Co.^(a)
	450,000		7.150		12/15/34		459,139
Symetra Financial Corp.^(a)^(b)
	325,000		8.300		10/15/37		306,088

							864,012

Manufacturing — 0.2%
General Mills, Inc.
	500,000		5.200		03/17/15		497,605

Media Cable — 1.7%
Comcast Cable Communications LLC
	275,000		6.750		01/30/11		285,963
Comcast Corp.
	625,000		6.450		03/15/37		588,017
Cox Communications, Inc.
	1,750,000		4.625		01/15/10		1,748,482
Rogers Cable, Inc.
	200,000		7.875		05/01/12		212,918
Time Warner Cable, Inc.
	1,000,000		5.400		07/02/12		982,532
Viacom, Inc.
	300,000		5.750		04/30/11		302,394

							4,120,306

Pipelines — 1.5%
Boardwalk Pipelines LP
	575,000		5.875		11/15/16		554,002
Energy Transfer Partners LP
	275,000		5.650		08/01/12		275,884
	725,000		5.950		02/01/15		705,842
	225,000		6.700		07/01/18		226,683
Enterprise Products Operating LP Series B
	450,000		5.600		10/15/14		434,900
	325,000		5.000		03/01/15		301,035
ONEOK Partners LP
	325,000		6.650		10/01/36		307,382
	300,000		6.850		10/15/37		290,919
TEPPCO Partners LP
	550,000		6.650		04/15/18		555,568

							3,652,215


Principal		Interest			Maturity
Amount		Rate			Date	Value
Corporate Bonds — (continued)
Property/Casualty Insurance — 2.0%
Ace INA Holdings, Inc.
$	500,000		5.800	%	03/15/18	$	495,006
AON Capital Trust A
	500,000		8.205		01/01/27		479,615
Arch Capital Group Ltd.
	475,000		7.350		05/01/34		451,488
Aspen Insurance Holdings Ltd.
	350,000		6.000		08/15/14		369,307
Chubb Corp.^(b)
	525,000		6.375		03/29/37		488,916
Endurance Specialty Holdings Ltd.
	375,000		6.150		10/15/15		388,718
Marsh & McClennan Companies, Inc.
	600,000		5.150		09/15/10		607,257
Swiss Reinsurance Capital I LP^(a)^(b)
	600,000		6.854		12/31/49		558,338
White Mountains Reinsurance Group Ltd.^(a)
	600,000		6.375		03/20/17		578,082
ZFS Finance USA Trust^(a)^(b)
	675,000		5.875		05/09/32		594,702

							5,011,429

REITs — 0.7%
Highwoods Properties, Inc.
	425,000		5.850		03/15/17		363,034
iStar Financial, Inc. Series B
	1,300,000		5.700		03/01/14		936,000
Westfield Capital Corp. Ltd.^(a)
	225,000		4.375		11/15/10		220,566
Westfield Group^(a)
	125,000		5.400		10/01/12		121,614

							1,641,214

Retailers — 0.2%
CVS/Caremark Corp.
	525,000		5.750		06/01/17		533,170

Technology — 0.2%
Fiserv, Inc.
	475,000		6.125		11/20/12		489,494

Wireless Telecommunications — 1.2%
America Movil SA De CV
	1,000,000		5.500		03/01/14		1,002,340
New Cingular Wireless Services, Inc.
	675,000		7.875		03/01/11		735,365
	500,000		8.750		03/01/31		602,665
Nextel Communications, Inc. Series E
	900,000		6.875		10/31/13		702,000

							3,042,370

Wirelines Telecommunications — 1.6%
Deutsche Telekom International Finance BV
	700,000		8.250		06/15/30		833,894
France Telecom SA
	725,000		7.750		03/01/11		786,358
GTE Corp.
	750,000		7.510		04/01/09		775,016
Telecom Italia Capital SA
	225,000		4.000		01/15/10		220,722
	300,000		4.875		10/01/10		295,523
	800,000		4.950		09/30/14		725,959

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments (continued)

March 31, 2008 (Unaudited)


Principal		Interest			Maturity
Amount		Rate			Date	Value
Corporate Bonds — (continued)
Wirelines Telecommunications — (continued)
Telefonica Europe BV
$	300,000		7.750	%	09/15/10	$	321,897

							3,959,369

TOTAL CORPORATE BONDS						$	59,778,848


Mortgage-Backed Obligations — 71.5%
Adjustable Rate FHLMC^(b) — 2.2%
$	2,226,640		4.846	%	09/01/35	$	2,263,394
	3,061,920		4.737		10/01/35		3,100,154

							5,363,548

Adjustable Rate FNMA^(b) — 3.2%
	1,274,617		4.470		05/01/33		1,270,005
	1,876,024		4.687		05/01/35		1,869,385
	2,467,745		5.347		09/01/35		2,521,173
	2,182,193		5.080		12/01/35		2,227,362

							7,887,925

Adjustable Rate Non-Agency^(b) — 20.0%
Adjustable Rate Mortgage Trust Series 2004-5, Class 2A1
	41,779		4.996		04/25/35		41,051
American Home Mortgage Assets Trust Series 2007-1, Class A1
	2,610,497		5.026		02/25/47		1,876,778
Bear Stearns Adjustable Rate Mortgage Trust Series 2004-1, Class 21A1
	70,940		4.452		04/25/34		60,592
Bear Stearns Adjustable Rate Mortgage Trust Series 2005-3, Class 2A1
	122,529		5.069		06/25/35		116,755
Bear Stearns Alt-A Trust II Series 2007-1, Class 1A1
	2,778,178		6.264		09/25/47		2,285,553
Bear Stearns Mortgage Funding Trust Series 2006-AR1, Class 2A1
	2,099,506		2.819		08/25/36		1,553,335
Chase Mortgage Finance Corp. Series 2007-A1, Class 2A1
	2,610,023		4.137		02/25/37		2,513,169
Countrywide Alternative Loan Trust Series 2005-38, Class A1
	367,698		5.736		09/25/35		256,281
Countrywide Alternative Loan Trust Series 2005-59, Class 1A2A
	856,093		2.916		11/20/35		596,906
Countrywide Alternative Loan Trust Series 2006-OA10, Class 4A1
	1,996,538		2.789		08/25/46		1,496,984
Countrywide Alternative Loan Trust Series 2006-OA16, Class A2
	3,768,645		2.789		10/25/46		2,839,875
Countrywide Home Loan Mortgage Pass-Through Trust Series 2003-52, Class A1
	279,634		4.503		02/19/34		238,989
Countrywide Home Loan Mortgage Pass-Through Trust Series 2004-HYB6, Class A2
	32,954		4.552		11/20/34		24,067
Countrywide Home Loan Mortgage Pass-Through Trust Series 2005-HYB4, Class 2A1
	172,669		4.901		08/20/35		122,871
Downey Savings & Loan Association Mortgage Loan Trust Series 2006-AR2, Class 2A1A
	1,656,536		2.759		11/19/37		1,177,891
Harborview Mortgage Loan Trust Series 2005-14, Class 5A1A
	728,811		5.731		12/19/35		493,960


Principal		Interest			Maturity
Amount		Rate			Date		Value
Mortgage-Backed Obligations — (continued)
Adjustable Rate Non-Agency^(b)— (continued)
Indymac Index Mortgage Loan Trust Series 2005-AR15, Class A1
$	671,020		5.441	%		09/25/35	$	499,331
Indymac Index Mortgage Loan Trust Series 2006-AR2, Class 1A1A
	1,500,464		2.819			04/25/46		1,135,870
Indymac Index Mortgage Loan Trust Series 2006-AR4, Class A1A
	1,545,431		2.809			05/25/46		1,169,677
J.P. Morgan Mortgage Trust Series 2007-A1, Class 1A1
	906,768		4.201			07/25/35		882,353
J.P. Morgan Mortgage Trust Series 2007-A1, Class 2A2
	842,074		4.749			07/25/35		812,618
J.P. Morgan Mortgage Trust Series 2007-A1, Class 5A2
	850,265		4.766			07/25/35		817,033
Lehman XS Trust Series 2007-16N, Class 2A2
	984,366		3.449			09/25/47		696,719
Luminent Mortgage Trust Series 2006-2, Class A1A
	1,512,274		2.799			02/25/46		1,145,109
Luminent Mortgage Trust Series 2006-5, Class A1A
	683,228		2.789			07/25/36		490,158
Master Adjustable Rate Mortgages Trust Series 2006-OA2, Class 4A1A
	815,332		5.176			12/25/46		549,825
Merrill Lynch Mortgage Investors, Inc. Series 2005-A9, Class 2A1C
	3,000,000		5.135			12/25/35		2,873,713
Residential Accredit Loans, Inc. Series 2005-QO5, Class A1
	1,156,532		5.326			01/25/46		788,322
Residential Accredit Loans, Inc. Series 2007-QH9, Class A1
	2,941,027		6.550			11/25/37		2,058,719
Residential Funding Mortgage Securities I Series 2005-SA4, Class 2A2
	776,636		5.184			09/25/35		736,566
Structured Adjustable Rate Mortgage Loan Trust Series 2004-5, Class 3A1
	75,108		4.380			05/25/34		68,607
Structured Adjustable Rate Mortgage Loan Trust Series 2004-12, Class 3A2
	33,800		5.250			09/25/34		24,727
Structured Adjustable Rate Mortgage Loan Trust Series 2004-16, Class 3A1
	124,875		5.450			11/25/34		101,406
Structured Asset Mortgage Investments, Inc. Series 2007-AR6, Class A1
	2,959,743		4.619			08/25/47		2,113,441
Thornburg Mortgage Securities Trust Series 2006-4, Class A2B
	2,487,224		2.719			07/25/36		2,294,604
Thornburg Mortgage Securities Trust Series 2006-5, Class A1
	2,281,943		2.719			09/25/46		2,130,875
Washington Mutual Alternative Mortgage Pass-Through Certificates Series 2006-AR9, Class 2A
	2,605,056		5.166			11/25/46		1,782,540
Washington Mutual Mortgage Pass-Through Certificates Series 2004-AR3, Class A2
	55,175		4.243			06/25/34		53,511
Washington Mutual Mortgage Pass-Through Certificates Series 2005-AR10, Class 1A3
	2,000,000		4.836			09/25/35		1,924,208

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments (continued)

March 31, 2008 (Unaudited)


Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
Adjustable Rate Non-Agency^(b)— (continued)
Washington Mutual Mortgage Pass-Through Certificates Series 2006-AR11, Class 1A
$	2,714,195		5.286	%	09/25/46	$	1,850,616
Washington Mutual Mortgage Pass-Through Certificates Series 2006-AR11, Class 3A1A
	763,530		5.246		09/25/46		520,444
Washington Mutual Mortgage Pass-Through Certificates Series 2007-OA2, Class 1A
	832,665		5.026		03/25/47		541,854
Wells Fargo Alternative Loan Trust Series 2007-PA6, Class A1
	2,706,441		6.600		12/28/37		1,894,446
Wells Fargo Mortgage Backed Securities Trust Series 2005-AR6, Class A1
	2,960,532		5.038		04/25/35		2,523,388
Wells Fargo Mortgage Backed Securities Trust Series 2006-AR10, Class 5A3
	1,439,803		5.597		07/25/36		1,375,807

							49,551,544

Commercial Mortgage Backed Securities — 7.4%
Adjustable Rate Non-Agency^(b) — 3.6%
Banc of America Commercial Mortgage, Inc. Series 2005-6, Class A4
	3,000,000		5.181		09/10/47		2,945,110
GE Capital Commercial Mortgage Corp. Series 2005-C4, Class A4
	3,000,000		5.333		11/10/45		2,973,508
Wachovia Bank Commercial Mortgage Trust Series 2005-C21, Class A4
	3,000,000		5.210		10/15/44		2,969,976

							8,888,594

Sequential Fixed Rate — 3.8%
Bear Stearns Commercial Mortgage Securities Series 1999-WF2, Class A2
	2,520,264		7.080		07/15/31		2,556,981
GE Capital Commercial Mortgage Corp. Series 2002-1A, Class A3
	2,700,000		6.269		12/10/35		2,780,709
J.P. Morgan Chase Commercial Mortgage Securities Corp. Series 2005-LDP2, Class A4
	1,500,000		4.738		07/15/42		1,429,647
Morgan Stanley Dean Witter Capital I Series 2003-TOP9, Class A2
	2,700,000		4.740		11/13/36		2,618,513

							9,385,850

TOTAL COMMERCIAL MORTGAGE BACKED SECURITIES							18,274,444

Collateralized Mortgage Obligations — 1.5%
Interest Only^(b)^(c)^(d) — 0.0%
FHLMC Series 2006-3167, Class XI
	637,114		0.000		10/15/35		14,514
FNMA Series 2004-71, Class DI
	604,727		0.000		04/25/34		26,367

							40,881

Planned Amortization Class — 1.3%
FNMA Series 2003-92, Class PD
	3,000,000		4.500		03/25/17		3,042,908

Regular Floater^(d) — 0.2%
FHLMC Series 2005-3038, Class XA
	73,654		0.000		09/15/35		71,162


Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
Regular Floater — (continued)
FHLMC Series 2006-3167, Class X
$	222,707		0.000	%	06/15/36	$	207,340
FHLMC Series 2007-3275, Class UF
	86,802		0.000		02/15/37		95,413
FNMA Series 2006-81, Class LF
	81,287		0.000		09/25/36		82,113
FNMA Series 2007-56, Class GY
	86,313		0.000		06/25/37		89,070

							545,098

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS							3,628,887

FHLMC — 5.8%
	62,027		7.000		08/01/10		64,149
	87		7.000		09/01/11		91
	13,620		7.000		11/01/11		14,199
	20,090		7.000		12/01/11		20,945
	78,228		7.500		06/01/15		82,192
	282,267		7.000		07/01/16		296,475
	1,403,871		5.500		02/01/18		1,439,293
	103,067		5.500		04/01/18		105,667
	181,925		4.500		05/01/18		181,868
	43,844		4.500		06/01/18		43,830
	169,336		4.500		09/01/18		169,285
	189,639		5.500		09/01/18		194,424
	127,583		4.500		10/01/18		127,544
	132,044		4.500		11/01/18		132,003
	917,761		4.500		12/01/18		917,478
	47,901		4.500		01/01/19		47,886
	96,163		4.500		03/01/19		96,060
	3,989,864		4.000		06/01/19		3,880,619
	22,581		9.500		08/01/19		24,811
	1,002		9.500		08/01/20		1,103
	325,115		6.500		10/01/20		340,822
	17,915		9.500		02/01/21		19,250
	45,555		6.500		01/01/24		47,904
	239,632		6.500		12/01/27		251,910
	128,302		6.000		03/01/29		132,730
	1,849		6.000		04/01/29		1,912
	71,490		7.500		12/01/29		75,949
	2,143		7.500		11/01/30		2,277
	465,907		6.500		12/01/31		486,601
	616,903		7.000		05/01/32		651,507
	3,061		6.000		08/01/32		3,161
	382,980		7.000		12/01/32		404,464
	3,130,638		6.500		10/01/34		3,269,691
	884,417		7.000		11/01/37		929,023

							14,457,123

FNMA — 30.5%
	905		6.500		05/01/08		908
	1,462		9.000		02/01/10		1,547
	62,133		6.000		08/01/13		64,136
	8,251		7.500		01/01/14		8,632
	218,584		7.500		08/01/15		229,306
	86,438		6.000		04/01/16		89,218
	175,390		6.500		05/01/16		182,261
	263,962		6.500		09/01/16		274,303
	335,888		6.500		11/01/16		349,046
	77,576		6.000		12/01/16		80,071
	666,147		6.000		02/01/17		687,607
	103,821		7.500		04/01/17		108,944
	1,009,278		6.000		10/01/17		1,041,792

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments (continued)

March 31, 2008 (Unaudited)


Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
FNMA — (continued)
$	128,569		5.000	%	02/01/18	$	130,362
	953,624		5.500		02/01/18		977,950
	773,358		5.000		04/01/18		784,141
	1,371,129		5.000		05/01/18		1,390,246
	6,302,636		4.500		06/01/18		6,284,251
	149,176		5.000		06/01/18		151,256
	95,011		6.500		08/01/18		99,398
	403,427		7.000		08/01/18		429,607
	3,917,588		4.000		09/01/18		3,841,551
	261,533		5.000		11/01/18		265,179
	200,000		4.500		12/01/18		199,344
	3,646,866		4.500		01/01/19		3,646,813
	181,435		5.000		02/01/19		183,743
	1,314,228		5.000		03/01/19		1,330,942
	998,349		5.000		04/01/19		1,011,045
	632,136		5.000		08/01/19		640,175
	271,161		5.000		10/01/19		274,609
	1,171,182		5.000		11/01/19		1,186,077
	705		7.000		07/01/25		746
	10,976		7.000		11/01/25		11,611
	69,369		9.000		11/01/25		76,735
	358,740		7.000		08/01/26		376,299
	4,127		7.000		08/01/27		4,381
	24,274		7.000		09/01/27		25,768
	813		7.000		01/01/28		863
	741,041		6.000		02/01/29		765,870
	418,611		6.000		03/01/29		432,635
	169,030		6.500		03/01/29		176,690
	368,963		6.000		05/01/29		381,324
	33,192		6.500		05/01/29		34,696
	1,060,526		6.000		06/01/29		1,096,055
	275,395		6.500		06/01/29		287,879
	129,682		6.500		07/01/29		135,560
	230,538		6.500		08/01/29		240,988
	6,161		7.000		09/01/29		6,529
	111,753		6.500		10/01/29		116,818
	89,118		8.000		10/01/29		97,066
	156,579		6.500		11/01/29		163,676
	115,656		6.500		12/01/29		120,898
	46,098		7.000		12/01/29		48,855
	1,628		8.500		04/01/30		1,793
	13,225		8.000		05/01/30		14,044
	489		8.500		06/01/30		539
	178,310		6.500		04/01/31		185,940
	43,581		7.000		05/01/32		46,107
	316,088		7.000		06/01/32		334,133
	396,165		7.000		08/01/32		418,782
	102,416		8.000		08/01/32		110,966
	33,531		7.000		05/01/35		35,206
	71,012		7.000		07/01/35		74,558
	81,447		7.000		08/01/35		85,514
	240,390		5.000		09/01/35		238,183
	91,301		7.000		10/01/35		95,861
	47,683		7.000		01/01/36		50,055
	300,747		7.000		04/01/36		315,704
	239,042		7.000		09/01/36		250,980
	437,175		7.000		10/01/36		458,916
	216,329		7.000		12/01/36		227,087
	32,829		7.000		02/01/37		34,461
	386,092		7.000		03/01/37		405,295


Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
FNMA — (continued)
$	556,235		7.000	%	04/01/37	$	583,910
	337,811		7.000		05/01/37		354,619
	51,374		7.000		06/01/37		53,930
	276,428		5.000		08/01/37		273,716
	3,539,151		7.000		08/01/37		3,715,240
	3,897,937		7.000		09/01/37		4,091,878
	8,118,958		7.000		10/01/37		8,522,914
	4,261,039		7.500		10/01/37		4,508,380
	5,780,906		7.000		11/01/37		6,068,534
	23,963		7.000		12/01/37		25,155
	237,075		5.000		01/01/38		234,850
	759,511		5.000		02/01/38		752,028
	3,486,497		5.000		03/01/38		3,453,552
	2,000,000		5.500		TBA-30yr^(e)		2,018,750
	7,000,000		5.000		TBA-30yr^(e)		6,927,816

							75,515,798

GNMA — 0.9%
	188		6.500		09/15/08		190
	44,030		7.000		03/15/12		45,364
	57,947		7.000		06/15/23		62,333
	21,740		7.000		10/15/25		23,376
	29,375		7.000		11/15/25		31,584
	4,521		7.000		02/15/26		4,827
	18,882		7.000		04/15/26		20,161
	7,333		7.000		03/15/27		7,830
	1,371		7.000		06/15/27		1,463
	8,630		7.000		10/15/27		9,214
	166,534		7.000		11/15/27		177,813
	10,174		7.000		01/15/28		10,869
	62,958		7.000		02/15/28		67,257
	22,903		7.000		03/15/28		24,467
	12,239		7.000		04/15/28		13,075
	1,359		7.000		05/15/28		1,452
	21,610		7.000		06/15/28		23,086
	43,108		7.000		07/15/28		46,052
	141,332		7.000		08/15/28		150,982
	60,661		7.000		09/15/28		64,803
	5,595		7.000		11/15/28		5,977
	5,999		7.500		11/15/30		6,392
	4,027		7.000		10/15/31		4,264
	1,475		7.000		12/15/31		1,562
	37,817		7.500		10/15/32		40,682
	1,465,226		6.000		08/20/34		1,514,762

							2,359,837

TOTAL MORTGAGE-BACKED OBLIGATIONS						$	177,039,106


Agency Debentures — 1.6%
FFCB^(f)
$	1,600,000		5.400	%	06/08/17	$	1,761,627
Tennessee Valley Authority
	2,000,000		5.375		04/01/56		2,213,776

TOTAL AGENCY DEBENTURES						$	3,975,403


Asset-Backed Securities — 1.3%
Home Equity — 1.3%
CIT Mortgage Loan Trust Series 2007-1, Class 2A1^(a)^(b)
$	1,254,431		3.599	%	10/25/37	$	1,128,987

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments (continued)

March 31, 2008 (Unaudited)


Principal		Interest			Maturity
Amount		Rate			Date	Value
Asset-Backed Securities — (continued)
Home Equity — (continued)
CIT Mortgage Loan Trust Series 2007-1, Class 2A2^(a)^(b)
$	350,000		3.849	%	10/25/37	$	227,500
CIT Mortgage Loan Trust Series 2007-1, Class 2A3^(a)^(b)
	700,000		4.049		10/25/37		385,000
GMAC Mortgage Corp. Loan Trust Series 2007-HE3, Class 1A1
	324,957		7.000		09/25/37		186,865
GMAC Mortgage Corp. Loan Trust Series 2007-HE3, Class 2A1
	322,994		7.000		09/25/37		182,759
HFC Home Equity Loan Asset Backed Certificates Series 2007-3, Class APT^(b)
	1,295,076		3.736		11/20/36		1,121,252

TOTAL ASSET-BACKED SECURITIES						$	3,232,363


Municipal Debt Obligation — 0.1%
Ohio — 0.1%
Buckeye Tobacco Settlement Financing Authority RB for Asset Backed Bonds Senior Turbo Series 2007 A-2
$	175,000		5.125	%	06/01/24	$	163,181


Supranational — 1.6%
Banks — 1.6%
Asian Development Bank
$	5,000,000		1.000	%	10/01/15	$	4,060,360


Shares		Description	Value
Common Stock — 0.2%
Banks— 0.2%
Royal Bank of Scotland Group PLC ADR
	475,000		$	479,187


		Interest
Shares		Rate			Value
Preferred Stock — 0.3%
Financial Companies — 0.3%
FNMA
	34,000		8.250	%	$	817,700


Principal		Interest			Maturity
Amount		Rate			Date	Value
Short-Term Obligation — 2.5%
JPMorgan Chase Euro — Time Deposit
$	6,083,552		2.023	%	04/01/08	$	6,083,552

TOTAL INVESTMENTS — 103.2%						$	255,629,700

LIABILITIES IN EXCESS OF OTHER ASSETS — (3.2)%							(7,943,721	)

NET ASSETS — 100.0%						$	247,685,979

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 $13,541,889, which represents approximately 5.5% of net assets as of March 31, 2008.

(b) Variable rate security. Interest rate disclosed is that which is in effect at March 31, 2008.

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

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

(e) TBA (To be announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement when the specific mortgage pools are assigned. Total market value of TBA securities amounts to $8,946,566 which represents approximately 3.6% of net assets as of March 31, 2008.

(f) All or a portion of security is segregated for initial margin requirements on futures transactions.



Investment Abbreviations:
ADR		— American Depositary Receipt
CMBS		— Commercial Mortgage-Backed Securities
CMO		— Collateralized Mortgage Obligations
FFCB		— Federal Farm Credit Bank
FHLMC		— Federal Home Loan Mortgage Corp.
FNMA		— Federal National Mortgage Association
GNMA		— Government National Mortgage Association
LIBOR		— London Inter Bank Offered Rate
RB		— Revenue Bond
REIT		— Real Estate Investment Trust

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 CORE FIXED INCOME FUND

Schedule of Investments (continued)

March 31, 2008 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FORWARD FOREIGN CURRENCY CONTRACTS — At March 31, 2008, the Fund had outstanding forward foreign currency exchange contracts, both to purchase and sell foreign currencies:


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

Australian Dollar	Sale		6/18/08	$	1,275,117	$	1,259,320	$	15,797
British Pound	Sale		6/18/08		3,134,924		3,108,379		26,545
Canadian Dollar	Sale		6/18/08		196,000		187,872		8,128
Euro	Sale		4/30/08		833,115		832,886		229
Euro	Purchase		6/18/08		2,153,000		2,193,812		40,812
Japanese Yen	Sale		6/18/08		1,173,000		1,146,346		26,654
Japanese Yen	Purchase		6/18/08		3,536,531		3,634,911		98,380
New Zealand Dollar	Sale		6/18/08		1,611,676		1,592,807		18,869
Norwegian Krone	Purchase		6/18/08		1,169,000		1,174,541		5,541
Swedish Krona	Purchase		6/18/08		927,901		948,946		21,045
Swedish Krona	Purchase		6/19/08		568,606		574,265		5,659
Swiss Franc	Purchase		6/18/08		1,572,300		1,637,714		65,414
Swiss Franc	Sale		6/18/08		390,000		389,959		41

TOTAL								$	333,114


Open Forward Foreign Currency	Contract	Expiration		Value on		Current		Unrealized
Contracts with Unrealized Loss	Type	Date		Settlement Date		Value		Loss

Australian Dollar	Sale		6/18/08	$	1,357,000	$	1,357,235	$	(235	)
Australian Dollar	Purchase		6/18/08		3,209,027		3,156,415		(52,612	)
British Pound	Purchase		6/18/08		1,566,000		1,542,863		(23,137	)
Canadian Dollar	Purchase		6/18/08		409,953		393,885		(16,068	)
Euro	Sale		6/18/08		5,063,713		5,133,505		(69,792	)
Japanese Yen	Purchase		6/18/08		589,000		575,966		(13,034	)
Japanese Yen	Sale		6/18/08		2,143,000		2,207,731		(64,731	)
New Zealand Dollar	Purchase		6/18/08		1,630,087		1,596,495		(33,592	)
Norwegian Krone	Sale		6/18/08		390,000		395,355		(5,355	)
Swedish Krona	Sale		6/18/08		390,000		396,423		(6,423	)
Swiss Franc	Sale		6/18/08		1,359,000		1,408,755		(49,755	)
Swiss Franc	Purchase		6/18/08		392,000		388,375		(3,625	)

TOTAL								$	(338,359	)

FUTURES CONTRACTS — At March 31, 2008, the following futures contracts were open:


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

Eurodollars	11	June 2008	$	2,687,575		$	27,393
Eurodollars	15	September 2008		3,671,437			55,605
Eurodollars	15	December 2008		3,669,000			53,417
Eurodollars	15	March 2009		3,668,063			54,557
Eurodollars	15	June 2009		3,661,125			51,894
Eurodollars	7	September 2009		1,704,938			1,201
Eurodollars	7	December 2009		1,700,038			501
U.S. Treasury Bonds	101	June 2008		11,998,484			23,918
2 Year U.S. Treasury Notes	(79)	June 2008		(16,957,844	)		(123,512	)
5 Year U.S. Treasury Notes	35	June 2008		3,998,203			(5,584	)
10 Year U.S. Treasury Notes	71	June 2008		8,445,672			98,716

TOTAL			$	28,246,691		$	238,106

GOLDMAN SACHS VARIABLE INSURANCE TRUST GOVERNMENT INCOME FUND

Schedule of Investments

March 31, 2008 (Unaudited)


Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — 79.1%
Adjustable Rate FHLMC^(a) — 1.6%
$	742,213		4.846	%	09/01/35	$	754,465
	765,480		4.737		10/01/35		775,038

							1,529,503

Adjustable Rate FNMA^(a) — 2.2%
	424,872		4.470		05/01/33		423,335
	938,012		4.749		05/01/35		934,693
	727,105		5.085		12/01/35		742,155

							2,100,183

Adjustable Rate Non-Agency^(a) — 9.8%
Countrywide Alternative Loan Trust Series 2005-59, Class 1A2A
	570,729		2.916		11/20/35		397,938
First Horizon Alternative Mortgage Securities Series 2005-AA7, Class 2A1
	616,321		5.407		09/25/35		369,793
GSR Mortgage Loan Trust Series 2005-AR6, Class 3A1
	751,908		4.560		09/25/35		715,105
Harborview Mortgage Loan Trust Series 2006-6, Class 3A1A
	646,918		6.003		08/19/36		456,162
Indymac Index Mortgage Loan Trust Series 2006-AR2, Class 1A1A
	600,185		2.819		04/25/46		454,348
J.P. Morgan Mortgage Trust Series 2007-A1, Class 2A2
	842,074		4.749		07/25/35		812,618
Lehman XS Trust Series 2007-4N, Class 3A2A
	896,017		5.076		03/25/47		603,354
Luminent Mortgage Trust Series 2006-2, Class A1A
	604,910		2.799		02/25/46		458,044
Merrill Lynch Mortgage Investors, Inc. Series 2005-A9, Class 2A1C
	1,000,000		5.135		12/25/35		957,904
Residential Accredit Loans, Inc. Series 2005-QO5, Class A1
	578,266		5.326		01/25/46		394,161
Residential Accredit Loans, Inc. Series 2007-QH9, Class A1
	980,342		6.550		11/25/37		686,240
Structured Asset Mortgage Investments, Inc. Series 2007-AR6, Class A1
	986,581		4.619		08/25/47		704,481
Washington Mutual Mortgage Pass-Through Certificates Series 2005-AR10, Class 1A3
	1,000,000		4.836		09/25/35		962,104
Washington Mutual Mortgage Pass-Through Certificates Series 2006-AR11, Class 3A1A
	763,530		5.246		09/25/46		520,444
Wells Fargo Mortgage Backed Securities Trust Series 2006-AR10, Class 5A3
	719,902		5.607		07/25/36		687,903

							9,180,599

Commercial Mortgage Backed Securities — 2.9%
Adjustable Rate Non-Agency^(a) — 2.1%
Bear Stearns Commercial Mortgage Securities Series 2006-PW12, Class A4
	500,000		5.711		09/11/38		505,385
Citigroup Commercial Mortgage Trust Series 2006-C4, Class A3
	500,000		5.725		03/15/49		505,557


Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
Adjustable Rate Non-Agency — (continued)
Citigroup/Deutsche Bank Commercial Mortgage Trust Series 2005-CD1, Class A4
$	1,000,000		5.225	%	07/15/44	$	986,920

							1,997,862

Sequential Fixed Rate — 0.8%
Banc of America Funding Corp. Series 2007-8, Class 2A1
	787,173 7		.000		10/25/37		762,574

TOTAL COMMERCIAL MORTGAGE BACKED SECURITIES							2,760,436

Collateralized Mortgage Obligations — 6.2%
Interest Only^(a)^(b)^(c) — 0.0%
FNMA Series 2004-47, Class EI
	356,999		0.000		06/25/34		13,498
FNMA Series 2004-62, Class DI
	154,582		0.000		07/25/33		6,589

							20,087

Planned Amortization Class — 6.0%
FHLMC Series 2719, Class GC^(d)
	4,580,000		5.000		06/15/26		4,638,184
FNMA Series 2003-70, Class BS
	1,026,003		4.000		04/25/22		1,024,933

							5,663,117

Regular Floater^(b) — 0.2%
FHLMC Series 3325, Class SX
	95,386		0.000		06/15/37		96,641
FNMA Series 2007-53, Class UF
	89,888		0.000		06/25/37		91,265

							187,906

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS							5,871,110

FHLMC — 7.0%
	1,564,787		4.500		12/01/18		1,564,304
	1,595,959		4.000		06/01/19		1,552,260
	1,330,686		4.500		06/01/19		1,330,276
	9,621		10.000		03/01/21		11,161
	24,505		6.500		06/01/23		25,714
	1,056,356		6.500		10/01/34		1,103,276
	999,999		5.500		02/01/38		1,010,420

							6,597,411

FNMA — 48.3%
	5,668		5.000		02/01/14		5,748
	73,370		5.000		11/01/17		74,458
	389,471		5.000		12/01/17		395,246
	286,413		5.000		01/01/18		290,661
	929,073		5.000		02/01/18		942,027
	288,814		5.000		03/01/18		292,841
	1,146,274		5.000		04/01/18		1,162,257
	437,525		5.000		05/01/18		443,626
	936,185		5.000		06/01/18		949,237
	23,642		5.000		07/01/18		23,972
	1,567,035		4.000		09/01/18		1,536,620
	607,950		5.000		11/01/18		616,426
	708,607		5.000		12/01/18		718,487
	59,961		5.000		01/01/19		60,797
	155,516		5.000		02/01/19		157,494
	617,008		5.000		03/01/19		624,855
	1,509,099		5.000		04/01/19		1,529,496
	715,713		5.000		06/01/19		725,692

GOLDMAN SACHS VARIABLE INSURANCE TRUST GOVERNMENT INCOME FUND

Schedule of Investments (continued)

March 31, 2008 (Unaudited)


Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
FNMA — (continued)
$	464,159		6.000	%	09/01/19	$	479,112
	650,802		5.000		12/01/19		659,876
	157,037		5.000		08/01/20		159,366
	584,222		6.000		12/01/20		603,009
	20,312		8.000		09/01/21		22,060
	11,177		7.000		05/01/35		11,735
	23,670		7.000		07/01/35		24,852
	27,149		7.000		08/01/35		28,505
	98,056		7.000		10/01/35		102,953
	15,894		7.000		01/01/36		16,685
	764,442		6.500		09/01/36		791,751
	79,680		7.000		09/01/36		83,660
	145,724		7.000		10/01/36		152,972
	432,657		7.000		12/01/36		454,174
	23,661		5.500		02/01/37		23,903
	396,188		5.500		03/01/37		400,244
	254,002		7.000		03/01/37		266,637
	1,112,471		7.000		04/01/37		1,167,821
	204,538		5.500		05/01/37		206,632
	1,057,116		7.000		05/01/37		1,109,712
	1,000,000		5.500		06/01/37		1,010,236
	102,748		7.000		06/01/37		107,861
	603,911		5.500		07/01/37		610,092
	6,317,676		7.000		08/01/37		6,632,010
	218,609		7.000		09/01/37		229,486
	795,684		5.500		10/01/37		803,829
	298,675		6.500		10/01/37		309,432
	974,027		7.000		10/01/37		1,022,489
	2,556,623		7.500		10/01/37		2,705,028
	1,795,661		5.500		11/01/37		1,814,041
	192,709		6.500		11/01/37		199,650
	2,509,579		7.000		11/01/37		2,634,442
	976,339		5.500		12/01/37		986,333
	1,543,675		6.500		12/01/37		1,599,796
	555,579		7.000		12/01/37		583,222
	204,316		5.500		01/01/38		206,448
	549,282		6.500		01/01/38		569,225
	2,000,199		5.500		02/01/38		2,021,073
	1,000,000		5.500		03/01/38		1,010,401
	2,000,000		5.500		TBA-30yr^(e)		2,018,750
	1,000,000		6.500		TBA-30yr^(e)		1,035,625

							45,425,068

GNMA — 1.1%
	1,196		6.500		06/15/09		1,222
	1,000,000		6.500		TBA-30yr^(e)		1,039,375

							1,040,597

TOTAL MORTGAGE-BACKED OBLIGATIONS						$	74,504,907


Agency Debentures — 1.4%
FFCB
$	500,000		5.400	%	06/08/17	$	550,508
Tennessee Valley Authority
	700,000		5.375		04/01/56		774,822

TOTAL AGENCY DEBENTURES						$	1,325,330


Principal		Interest			Maturity
Amount		Rate			Date	Value
Asset-Backed Securities — 1.1%
Home Equity — 1.1%
CIT Mortgage Loan Trust Series 2007-1, Class 2A1^(a)^(f)
$	385,289		3.599	%	10/25/37	$	346,761
CIT Mortgage Loan Trust Series 2007-1, Class 2A2^(a)^(f)
	130,000		3.849		10/25/37		84,500
CIT Mortgage Loan Trust Series 2007-1, Class 2A3^(a)^(f)
	180,000		4.049		10/25/37		99,000
GMAC Mortgage Corp. Loan Trust Series 2007-HE3, Class 1A1
	92,845		7.000		09/25/37		53,390
GMAC Mortgage Corp. Loan Trust Series 2007-HE3, Class 2A1
	92,284		7.000		09/25/37		52,217
HFC Home Equity Loan Asset Backed Certificates Series 2007-3, Class APT^(a)
	416,274		3.736		11/20/36		360,402

TOTAL ASSET-BACKED SECURITIES						$	996,270


Municipal Debt Obligations — 2.8%
California — 1.7%
California Statewide Communities Development Authority RB for John Muir Health Series 2006 B (MBIA)^(g)
$	1,575,000		6.190	%	08/15/36	$	1,575,000

North Carolina — 0.1%
New Hanover County North Carolina Hospital RB for New Hanover Regional Medical Center Series 2006 A (FSA)^(g)
	100,000		6.110		10/01/36		100,000

Washington — 1.0%
Washington State Health Care Facilities Authority RB for Catholic Health Series 2007 A-3 (FSA)^(g)
	1,000,000		5.440		12/01/36		1,000,000

TOTAL MUNICIPAL DEBT OBLIGATIONS						$	2,675,000


U.S. Treasury Obligations — 0.9%
United States Treasury Bonds
$	700,000		4.500	%	02/15/36	$	721,735
United States Treasury Principal-Only STRIPS^(h)
	300,000		0.000		08/15/26		129,219

TOTAL U.S. TREASURY OBLIGATIONS						$	850,954


Short-Term Obligation — 18.5%
JPMorgan Chase Euro — Time Deposit
$	17,422,396		2.023	%	04/01/08	$	17,422,396

TOTAL INVESTMENTS — 103.8%						$	97,774,857

LIABILITIES IN EXCESS OF OTHER ASSETS — (3.8)%							(3,602,625	)

NET ASSETS — 100.0%						$	94,172,232

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

GOLDMAN SACHS VARIABLE INSURANCE TRUST GOVERNMENT INCOME FUND

Schedule of Investments (continued)

March 31, 2008 (Unaudited)

(a) Variable rate security. Interest rate disclosed is that which is in effect at March 31, 2008.

(b) Security is 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) All or a portion of security is segregated for initial margin requirements on futures transactions.

(e) TBA (To Be Announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement when the specific mortgage pools are assigned. Total market value of TBA securities amounts to $4,093,750 which represents approximately 4.3% of net assets as of March 31, 2008.

(f) 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 $530,261, which represents approximately 0.6% of net assets as of March 31, 2008.

(g) Variable rate security. Maturity date disclosed is the next interest reset date. Interest rate disclosed is that which is in effect at March 31, 2008.

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



Investment Abbreviations:
CMBS		— Commercial Mortgage-Backed Securities
CMO		— Collateralized Mortgage Obligations
FFCB		— Federal Farm Credit Bank
FHLMC		— Federal Home Loan Mortgage Corp.
FNMA		— Federal National Mortgage Association
FSA		— Insured by Financial Security Assurance Co.
GNMA		— Government National Mortgage Association
MBIA		— Insured by Municipal Bond Investor Assurance
RB		— Revenue Bond
STRIPS		— Separate Trading of Registered Interest and Principal of 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 GOVERNMENT INCOME FUND

Schedule of Investments (continued)

March 31, 2008 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FUTURES CONTRACTS — At March 31, 2008, the following futures contracts were open:


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

Eurodollars	(1)	June 2008	$	(244,325	)	$	(6,278	)
Eurodollars	3	September 2008		734,287			20,106
Eurodollars	3	December 2008		733,800			19,844
Eurodollars	3	March 2009		733,613			19,976
Eurodollars	3	June 2009		732,225			19,076
U.S. Treasury Bonds	30	June 2008		3,563,906			3,635
2 Year U.S. Treasury Notes	38	June 2008		8,156,937			13,678
5 Year U.S. Treasury Notes	(3)	June 2008		(342,703	)		(1,459	)
10 Year U.S. Treasury Notes	101	June 2008		12,014,266			353,239

TOTAL			$	26,082,006		$	441,817

TAX INFORMATION — At March 31, 2008, the Fund’s aggregate security unrealized gains and losses based on cost for U.S. federal income tax purposes were as follows:



Tax Cost	$	99,142,507

Gross unrealized gain		1,438,050
Gross unrealized loss		(2,805,700	)

Net unrealized security loss	$	(1,367,650	)

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

GOLDMAN SACHS VARIABLE INSURANCE TRUST MONEY MARKET FUND

Schedule of Investments

March 31, 2008 (Unaudited)


Principal		Interest			Maturity
Amount		Rate			Date	Value
Commercial Paper and Corporate Obligations — 41.1%
Amstel Funding Corp.
$	4,000,000		3.000	%	06/12/08	$	3,976,000
Atlantic Asset Securitization Corp.
	4,000,000		3.000		05/07/08		3,988,000
Atlantis One Funding Corp.
	5,000,000		3.120		05/21/08		4,978,333
Chariot Funding LLC
	5,000,000		2.500		06/16/08		4,973,611
Charta LLC
	4,000,000		2.900		05/14/08		3,986,144
Citibank Credit Card Issuance Trust (Dakota Corp.)
	2,000,000		3.350		04/24/08		1,995,719
Citigroup Funding, Inc.
	5,000,000		2.980		06/12/08		4,970,200
Clipper Receivables Co. LLC
	5,000,000		3.250		04/18/08		4,992,326
CRC Funding LLC
	2,000,000		3.330		04/22/08		1,996,115
Danske Bank
	8,000,000		2.730		05/01/08		7,981,800
Fairway Finance Corp.
	5,000,000		2.830		04/21/08		4,992,139
Gemini Securitization Corp.
	5,000,000		3.100		05/19/08		4,979,333
General Electric Capital Services, Inc.
	5,000,000		2.780		08/05/08		4,951,350
Grampian Funding LLC
	2,000,000		5.125		04/07/08		1,998,292
Jupiter Securitization Corp.
	2,456,000		3.250		04/22/08		2,451,344
	3,000,000		2.850		06/11/08		2,983,138
Ranger Funding Co. LLC
	2,000,000		3.220		04/24/08		1,995,886
Scaldis Capital LLC
	2,000,000		3.300		04/15/08		1,997,433
Unicredito Italiano Bank (Ireland) PLC
	5,000,000		4.655		04/28/08		4,982,544
Variable Funding Capital Corp.
	5,000,000		3.160		04/24/08		4,989,906
Yorktown Capital LLC
	5,000,000		2.550		06/18/08		4,972,375

TOTAL COMMERCIAL PAPER AND CORPORATE OBLIGATIONS						$	85,131,988


Eurodollar Certificates of Deposit — 1.4%
Societe Generale
$	1,000,000		5.415	%	06/12/08	$	1,000,724
Societe Generale London
	2,000,000		4.805		06/24/08		2,000,023

TOTAL EURODOLLAR CERTIFICATES OF DEPOSIT						$	3,000,747


Principal		Interest			Maturity
Amount		Rate			Date	Value
U.S. Government Agency Obligations — 7.7%
Federal Home Loan Bank
$	5,000,000	2.860%^(a)			05/19/08	$	5,000,000
	4,000,000		2.800		02/25/09		4,000,000
Federal Home Loan Mortgage Corp.^(a)
	5,000,000		2.539		04/19/08		5,000,000
Federal National Mortgage Association^(a)
	2,000,000		2.330		04/01/08		1,999,716

TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS						$	15,999,716


Variable Rate Obligations^(a) — 21.7%
ANZ National Bank Limited
$	3,000,000		3.210	%	06/10/08	$	3,000,000
Barclays Bank PLC
	2,000,000		3.017		04/16/08		2,000,000
Caja Madrid
	5,000,000		4.044		04/21/08		5,000,000
HBOS Treasury Services PLC
	5,000,000		3.065		04/07/08		5,000,000
HSBC Finance Corp.
	3,000,000		3.203		04/09/08		2,999,885
IBM Corp.^(b)
	10,000,000		3.088		04/08/08		10,000,000
Merrill Lynch & Co., Inc.
	2,000,000		2.958		04/15/08		2,000,000
Nordea Bank AB^(b)
	4,000,000		3.020		04/11/08		4,000,000
Royal Bank of Canada
	5,000,000		3.064		04/03/08		4,999,992
UBS AG Stamford
	2,000,000		2.788		04/16/08		2,000,000
Wells Fargo & Co.
	4,000,000		3.169		04/03/08		4,000,000

TOTAL VARIABLE RATE OBLIGATIONS						$	44,999,877


Yankee Certificates of Deposit — 8.2%
Calyon
$	5,000,000		4.650	%	04/30/08	$	5,000,000
Credit Suisse, Inc.
	2,000,000		5.310		05/22/08		2,000,000
	2,000,000		4.900		06/04/08		2,000,000
Norinchukin Bank NY
	2,000,000		3.190		04/30/08		2,000,000
	5,000,000		3.070		05/08/08		5,000,000
Royal Bank of Scotland PLC
	1,000,000		4.905		06/10/08		1,000,010

TOTAL YANKEE CERTIFICATES OF DEPOSIT						$	17,000,010

TOTAL INVESTMENTS BEFORE REPURCHASE AGREEMENT — 80.1%						$	166,132,338

GOLDMAN SACHS VARIABLE INSURANCE TRUST MONEY MARKET FUND

Schedule of Investments (continued)

March 31, 2008 (Unaudited)


Principal		Interest			Maturity
Amount		Rate			Date	Value
Repurchase Agreement^(c) — 20.1%
Joint Repurchase Agreement Account II
$	41,600,000		2.496	%	04/01/08	$	41,600,000
Maturity Value: $41,602,884

TOTAL INVESTMENTS — 100.2%						$	207,732,338

LIABILITIES IN EXCESS OF OTHER ASSETS — (0.2)%							(364,520	)

NET ASSETS — 100.0%						$	207,367,818

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 March 31, 2008.

(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 amounted to $14,000,000, which represents approximately 6.8% of net assets as of March 31, 2008.

(c) Joint repurchase agreement was entered into on March 31, 2008. 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.gs.com/funds.

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

Schedule of Investments

March 31, 2008 (Unaudited)


Shares		Description	Value
Common Stocks — 98.6%
Banks — 3.1%
	67,900	BB&T Corp.	$	2,176,874
	21,200	Hudson City Bancorp, Inc.		374,816
	247,600	Regions Financial Corp.		4,890,100
	12,100	SunTrust Banks, Inc.		667,194
	31,700	U.S. Bancorp		1,025,812
	215,200	Wachovia Corp.		5,810,400
	319,600	Wells Fargo & Co.^(a)		9,300,360

				24,245,556

Capital Goods — 10.7%
	90,500	3M Co.		7,163,075
	73,100	AGCO Corp.^*^(b)		4,377,228
	123,000	Caterpillar, Inc.^(a)		9,629,670
	1,500	Deere & Co.		120,660
	179,500	Emerson Electric Co.		9,237,070
	1,900	Flowserve Corp.		198,322
	5,600	Fluor Corp.		790,496
	9,100	Foster Wheeler Ltd.^*		515,242
	2,600	General Dynamics Corp.		216,762
	317,288	General Electric Co.		11,742,829
	97,500	Honeywell International, Inc.		5,500,950
	130,600	Ingersoll-Rand Co. Ltd. Class A		5,822,148
	4,900	Joy Global, Inc.		319,284
	42,700	KBR, Inc.		1,184,071
	58,900	Lockheed Martin Corp.^(a)		5,848,770
	63,600	McDermott International, Inc.^*		3,486,552
	96,900	Northrop Grumman Corp.		7,539,789
	7,800	Raytheon Co.		503,958
	16,000	Rockwell Automation, Inc.		918,720
	5,600	SPX Corp.		587,440
	101,500	The Boeing Co.		7,548,555
	15,600	Tyco International Ltd.		687,180
	1,400	W.W. Grainger, Inc.		106,946

				84,045,717

Commercial Services & Supplies — 0.0%
	4,400	Manpower, Inc.		247,544

Consumer Durables & Apparel — 0.0%
	4,900	Garmin Ltd.^(a)		264,649
	1,200	NIKE, Inc. Class B		81,600

				346,249

Consumer Services — 1.8%
	233,000	Apollo Group, Inc. Class A^*		10,065,600
	300	Chipotle Mexican Grill, Inc. Class A^*^(a)		34,029
	2,200	DeVry, Inc.		92,048
	60,200	ITT Educational Services, Inc.^*^(a)		2,764,986
	26,800	McDonald’s Corp.		1,494,636

				14,451,299

Diversified Financials — 6.4%
	31,500	American Express Co.		1,377,180
	21,700	Ameriprise Financial, Inc.		1,125,145
	613,122	Bank of America Corp.^(b)		23,243,455
	133,400	Bank of New York Mellon Corp.^(a)		5,566,782
	7,900	BlackRock, Inc.		1,613,022
	164,100	Eaton Vance Corp.		5,006,691
	123,400	Janus Capital Group, Inc.		2,871,518
	215,100	JPMorgan Chase & Co.		9,238,545


Shares		Description	Value
Common Stocks — (continued)
Diversified Financials — (continued)
	1,200	SEI Investments Co.	$	29,628
	8,700	TD Ameritrade Holding Corp.^*		143,637

				50,215,603

Energy — 13.8%
	226,600	Anadarko Petroleum Corp.		14,282,598
	39,900	Apache Corp.		4,820,718
	1,900	Cameron International Corp.^*		79,116
	140,800	Chevron Corp.		12,018,688
	1,300	Cimarex Energy Co.		71,162
	14,400	ConocoPhillips		1,097,424
	500	Continental Resources, Inc.^*		15,945
	41,000	Devon Energy Corp.		4,277,530
	505,124	Exxon Mobil Corp.		42,723,388
	11,200	FMC Technologies, Inc.^*		637,168
	144,500	Global Industries Ltd.^*		2,325,005
	296,600	Halliburton Co.		11,665,278
	48,800	National-Oilwell Varco, Inc.^*^(a)		2,848,944
	7,900	Noble Energy, Inc.		575,120
	38,700	Occidental Petroleum Corp.		2,831,679
	15,300	Pioneer Natural Resources Co.		751,536
	158,700	Valero Energy Corp.		7,793,757

				108,815,056

Food & Staples Retailing — 3.4%
	57,900	BJ’s Wholesale Club, Inc.^*		2,066,451
	176,300	Costco Wholesale Corp.		11,454,211
	1,000	Ruddick Corp.		36,860
	58,900	Safeway, Inc.		1,728,715
	5,800	SUPERVALU, Inc.		173,884
	258,400	The Kroger Co.		6,563,360
	81,900	Wal-Mart Stores, Inc.^(a)		4,314,492

				26,337,973

Food, Beverage & Tobacco — 6.7%
	302,100	Altria Group, Inc.		6,706,620
	3,500	Archer-Daniels-Midland Co.		144,060
	34,700	Bunge Ltd.^(a)		3,014,736
	5,800	Hansen Natural Corp.^*		204,740
	5,700	Hormel Foods Corp.		237,462
	1,800	Loews Corp. — Carolina Group		130,590
	10,000	PepsiAmericas, Inc.		255,300
	52,300	PepsiCo, Inc.		3,776,060
	302,100	Philip Morris International, Inc.^*		15,280,218
	1,500	Reynolds American, Inc.		88,545
	38,400	The Coca-Cola Co.		2,337,408
	355,100	Tyson Foods, Inc. Class A		5,663,845
	271,467	UST, Inc.^(a)		14,800,381

				52,639,965

Health Care Equipment & Services — 4.3%
	256,094	AmerisourceBergen Corp.		10,494,732
	18,000	Covidien Ltd.		796,500
	66,600	Express Scripts, Inc.^*		4,283,712
	62,900	Kinetic Concepts, Inc.^*		2,907,867
	356,900	Medco Health Solutions, Inc.^*		15,628,651

				34,111,462

Household & Personal Products — 2.1%
	13,600	Avon Products, Inc.		537,744

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

Schedule of Investments (continued)

March 31, 2008 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Household & Personal Products — (continued)
	800	Church & Dwight Co., Inc.	$	43,392
	55,300	Energizer Holdings, Inc.^*		5,003,544
	18,800	Herbalife Ltd.		893,000
	142,200	Procter & Gamble Co.		9,963,954
	1,000	The Estee Lauder Companies, Inc. Class A		45,850

				16,487,484

Insurance — 2.6%
	3,200	ACE Ltd.		176,192
	7,600	American International Group, Inc.		328,700
	12,700	Axis Capital Holdings Ltd.		431,546
	5	Berkshire Hathaway, Inc. Class A^*		667,000
	30	Berkshire Hathaway, Inc. Class B^*		134,187
	34,600	Endurance Specialty Holdings Ltd.		1,266,360
	140,400	MetLife, Inc.^(a)		8,460,504
	25,500	Prudential Financial, Inc.		1,995,375
	69,800	The Chubb Corp.		3,453,704
	71,000	The Travelers Companies, Inc.		3,397,350

				20,310,918

Materials — 3.1%
	1,400	AK Steel Holding Corp.		76,188
	1,800	Carpenter Technology Corp.		100,746
	43,400	Celanese Corp. Class A		1,694,770
	120,800	CF Industries Holdings, Inc.		12,517,296
	3,200	Commercial Metals Co.		95,904
	8,800	Monsanto Co.		981,200
	1,800	Reliance Steel & Aluminum Co.		107,748
	41,700	Southern Copper Corp.^(a)		4,329,711
	102,500	Terra Industries, Inc.^*		3,641,825
	4,900	The Mosaic Co.^*		502,740
	700	The Scotts Miracle-Gro Co. Class A		22,694
	14,900	Worthington Industries, Inc.^(a)		251,363

				24,322,185

Media — 3.9%
	588,730	CBS Corp. Class B		12,999,158
	43,886	The Walt Disney Co.		1,377,143
	1,173,953	Time Warner, Inc.		16,458,821

				30,835,122

Pharmaceuticals, Biotechnology & Life Sciences — 8.2%
	400	Abbott Laboratories		22,060
	168,390	Amgen, Inc.^*		7,035,334
	194,100	Biogen Idec, Inc.^*		11,974,029
	36,000	Eli Lilly & Co.		1,857,240
	71,700	Gilead Sciences, Inc.^*		3,694,701
	11,500	Invitrogen Corp.^*		982,905
	319,608	Merck & Co., Inc.		12,129,124
	3,900	PerkinElmer, Inc.		94,575
	1,246,615	Pfizer, Inc.		26,091,652
	18,600	Wyeth		776,736

				64,658,356

Real Estate — 3.5%
	40,400	AvalonBay Communities, Inc. (REIT)		3,899,408
	7,900	Equity Residential (REIT)		327,771
	14,600	Federal Realty Investment Trust (REIT)		1,138,070
	5,800	Jones Lang LaSalle, Inc.		448,572


Shares		Description	Value
Common Stocks — (continued)
Real Estate — (continued)
	1,600	Plum Creek Timber Co., Inc. (REIT)	$	65,120
	312,200	ProLogis (REIT)		18,376,092
	1,400	SL Green Realty Corp. (REIT)		114,058
	33,100	The Macerich Co. (REIT)		2,325,937
	24,900	Ventas, Inc. (REIT)		1,118,259

				27,813,287

Retailing — 2.6%
	123,600	Amazon.com, Inc.^*^(a)		8,812,680
	313,494	AutoNation, Inc.^*		4,693,005
	104,000	Best Buy Co., Inc.		4,311,840
	27,400	GameStop Corp. Class A^*		1,416,854
	22,700	The Home Depot, Inc.		634,919
	25,400	The TJX Companies, Inc.		839,978

				20,709,276

Semiconductors & Semiconductor Equipment — 2.9%
	102,800	Analog Devices, Inc.		3,034,656
	101,600	Intel Corp.		2,151,888
	5,000	MEMC Electronic Materials, Inc.^*		354,500
	61,300	National Semiconductor Corp.		1,123,016
	143,550	NVIDIA Corp.^*		2,840,854
	457,152	Texas Instruments, Inc.		12,923,687

				22,428,601

Software & Services — 6.5%
	78,600	Accenture Ltd. Class A		2,764,362
	14,600	Activision, Inc.^*		398,726
	52,500	CA, Inc.		1,181,250
	103,400	eBay, Inc.^*		3,085,456
	20,000	Google, Inc. Class A^*		8,809,400
	930,240	Microsoft Corp.		26,400,211
	505,000	Symantec Corp.^*		8,393,100
	16,200	Yahoo!, Inc.^*		468,666

				51,501,171

Technology Hardware & Equipment — 5.5%
	54,500	Apple, Inc.^*		7,820,750
	26,900	Cisco Systems, Inc.^*		648,021
	9	CommScope, Inc.^*		314
	173,800	Dell, Inc.^*		3,462,096
	576,800	EMC Corp.^*		8,271,312
	58,600	Hewlett-Packard Co.		2,675,676
	482,400	Juniper Networks, Inc.^*		12,060,000
	84,600	Seagate Technology		1,771,524
	24,100	Sun Microsystems, Inc.^*		374,273
	3,200	Teradata Corp.^*		70,592
	152,826	Tyco Electronics Ltd.		5,244,988
	25,300	Western Digital Corp.^*		684,112

				43,083,658

Telecommunication Services — 3.4%
	71,300	AT&T, Inc.		2,730,790
	41,500	CenturyTel, Inc.		1,379,460
	20,700	Embarq Corp.		830,070
	311,995	Sprint Nextel Corp.		2,087,247
	534,000	Verizon Communications, Inc.		19,464,300

				26,491,867

Transportation — 0.8%
	900	Burlington Northern Santa Fe Corp.		82,998

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

Schedule of Investments (continued)

March 31, 2008 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Transportation — (continued)
	61,600	J.B. Hunt Transport Services, Inc.	$	1,936,088
	1,300	Landstar System, Inc.		67,808
	16,600	Southwest Airlines Co.		205,840
	15,600	Union Pacific Corp.		1,955,928
	29,400	United Parcel Service, Inc. Class B		2,146,788
	2,400	Werner Enterprises, Inc.		44,544

				6,439,994

Utilities — 3.3%
	10,300	American Electric Power Co., Inc.		428,789
	20,000	Dominion Resources, Inc.		816,800
	107,600	Duke Energy Corp.		1,920,660
	5,000	Entergy Corp.		545,400
	2,400	Exelon Corp.		195,048
	58,500	FirstEnergy Corp.		4,014,270
	1,500	FPL Group, Inc.		94,110
	4,700	NRG Energy, Inc.*		183,253
	400	OGE Energy Corp.		12,468
	44,400	PPL Corp.		2,038,848
	665,983	Reliant Energy, Inc.*		15,750,498
	500	TECO Energy, Inc.		7,975

				26,008,119

TOTAL COMMON STOCKS			$	776,546,462


Principal		Interest			Maturity
Amount		Rate			Date		Value
Short-Term Obligation — 0.5%
JPMorgan Chase Euro — Time Deposit
$	4,307,501		2.023	%		04/01/08	$	4,307,501

TOTAL INVESTMENTS BEFORE SECURITIES LENDING COLLATERAL							$	780,853,963


		Interest
Shares		Rate			Value
Securities Lending Collateral — 8.0%
Boston Global Investment Trust — Enhanced Portfolio^(c)
	62,948,150		3.147	%	$	62,948,150

TOTAL INVESTMENTS — 107.1%					$	843,802,113

LIABILITIES IN EXCESS OF OTHER ASSETS — (7.1)%						(56,272,185	)

NET ASSETS — 100.0%					$	787,529,928

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) All or a portion of security is segregated for initial margin requirements on futures transactions.



Investment Abbreviation:
REIT		— Real Estate Investment Trust

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

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRUCTURED SMALL CAP EQUITY FUND

Schedule of Investments

March 31, 2008 (Unaudited)


Shares		Description	Value
Common Stocks — 99.1%
Automobiles & Components — 0.5%
	14,000	Amerigon, Inc.^*	$	207,200
	100	ArvinMeritor, Inc.		1,251
	4,300	Coachmen Industries, Inc.		12,814
	27,100	Cooper Tire & Rubber Co.		405,687
	2,600	Drew Industries, Inc.^*		63,596

				690,548

Banks — 5.4%
	100	1st Source Corp.		2,105
	100	Ameris Bancorp		1,606
	13,900	Banco Latinoamericano de Exportaciones SA Class E		214,060
	3,600	Bank Mutual Corp.		38,664
	17,700	Boston Private Financial Holdings, Inc.		187,443
	12,300	City National Corp.		608,358
	110	Community Trust Bancorp, Inc.		3,223
	18,100	East West Bancorp, Inc.		321,275
	5,700	First Citizens BancShares, Inc. Class A		794,295
	44,800	First Community Bancorp		1,202,880
	100	FirstFed Financial Corp.^*		2,715
	2,000	FirstMerit Corp.		41,320
	100	Heritage Commerce Corp.		1,833
	100	Horizon Financial Corp.		1,381
	100	Nara Bancorp, Inc.		1,299
	20,207	Preferred Bank		337,255
	90,300	Provident Financial Services, Inc.		1,276,842
	100	Renasant Corp.		2,250
	100	SCBT Financial Corp.		3,380
	100	Southwest Bancorp, Inc.		1,751
	100	Sterling Financial Corp.		1,561
	100	Susquehanna Bancshares, Inc.		2,037
	15,804	SVB Financial Group^*		689,686
	600	Texas Capital Bancshares, Inc.^*		10,128
	100	TriCo Bancshares		1,731
	75,700	Umpqua Holdings Corp.^(a)		1,174,107
	100	Washington Trust Bancorp, Inc.		2,482
	800	Webster Financial Corp.		22,296
	100	Westfield Financial, Inc.		977
	3,300	Whitney Holding Corp.		81,807
	3,100	Wintrust Financial Corp.		108,345

				7,139,092

Capital Goods — 9.9%
	2,200	A.O. Smith Corp.		72,314
	24,013	Aerovironment, Inc.^*		491,066
	15,200	AGCO Corp.^*^(b)		910,176
	1,000	American Railcar Industries, Inc.		20,330
	3,200	Ampco-Pittsburgh Corp.		137,568
	18,000	Applied Industrial Technologies, Inc.		538,020
	2,500	Applied Signal Technology, Inc.		29,500
	1,000	Astec Industries, Inc.^*		38,760
	2,400	AZZ, Inc.^*		85,392
	5,200	Baldor Electric Co.		145,600
	1,800	Belden, Inc.		63,576
	36,200	C&D Technologies, Inc.^*^(a)		181,724
	1,100	CIRCOR International, Inc.		50,875
	7,500	Coleman Cable, Inc.^*^(a)		82,500
	4,000	Columbus McKinnon Corp.^*		123,920
	2,500	Commercial Vehicle Group, Inc.^*		24,775


Shares		Description	Value
Common Stocks — (continued)
Capital Goods — (continued)
	25,400	Cubic Corp.	$	722,122
	11,144	DynCorp International, Inc. Class A^*		185,882
	19,700	Encore Wire Corp.^(a)		358,737
	11,700	EnerSys^*		279,864
	200	Flowserve Corp.		20,876
	4,100	FreightCar America, Inc.		140,630
	3,900	Gibraltar Industries, Inc.		45,747
	45,340	GrafTech International Ltd.^*		734,961
	3,300	Griffon Corp.^*		28,380
	23,300	Integrated Electrical Services, Inc.^*		366,043
	1,600	Kadant, Inc.^*		47,008
	700	Kaman Corp.		19,803
	4,500	KBR, Inc.		124,785
	10,400	L.B. Foster Co. Class A^*		447,824
	800	Lindsay Corp.		81,976
	18,500	LSI Industries, Inc.		244,385
	1,600	Michael Baker Corp.^*		35,936
	1,000	MTC Technologies, Inc.^*		23,780
	9,800	NACCO Industries, Inc. Class A		793,212
	700	NuCo2, Inc.^*		19,439
	11,900	Perini Corp.^*		431,137
	100	PGT, Inc.^*		274
	5,300	Powell Industries, Inc.^*		208,661
	5,600	RBC Bearings, Inc.^*		207,928
	600	Regal-Beloit Corp.		21,978
	3,000	Robbins & Myers, Inc.		97,950
	20,000	Rush Enterprises, Inc. Class A^*		316,800
	3,500	Stanley, Inc.^*		103,110
	5,100	Sun Hydraulics Corp.		149,277
	37,100	Superior Essex, Inc.^*		1,043,252
	6,800	Taser International, Inc.^*^(a)		63,920
	34,400	Tecumseh Products Co. Class A^*		1,055,392
	1,200	Tennant Co.		47,772
	2,900	The Gorman-Rupp Co.		95,381
	26,600	Tredegar Corp.		484,386
	30,700	TriMas Corp.^*		161,789
	3,200	Valmont Industries, Inc.		281,248
	10,400	Vicor Corp.		124,176
	1,400	Walter Industries, Inc.		87,682
	12,000	Woodward Governor Co.		320,640

				13,020,239

Commercial Services & Supplies — 3.4%
	89,500	Bowne & Co., Inc.		1,364,875
	14,700	Comfort Systems USA, Inc.		191,247
	100	Cornell Companies, Inc.^*		2,246
	24,600	Herman Miller, Inc.		604,422
	300	HNI Corp.		8,067
	84,786	IKON Office Solutions, Inc.		644,374
	100	Interface, Inc. Class A		1,405
	1,400	School Specialty, Inc.^*		44,156
	108,991	Spherion Corp.^*		667,025
	20,200	United Stationers, Inc.^*		963,540
	100	Viad Corp.		3,601

				4,494,958

Consumer Durables & Apparel — 2.7%
	69,000	American Greetings Corp. Class A		1,279,950
	4,500	Brunswick Corp.		71,865

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRUCTURED SMALL CAP EQUITY FUND

Schedule of Investments (continued)

March 31, 2008 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Consumer Durables & Apparel — (continued)
	2,500	Callaway Golf Co.	$	36,700
	8,700	Deckers Outdoor Corp.^*		938,034
	26,600	Fossil, Inc.^*		812,364
	2,400	Hooker Furniture Corp.		53,616
	2,700	Kenneth Cole Productions, Inc. Class A		45,738
	6,000	Polaris Industries, Inc.^(a)		246,060
	3,100	The Warnaco Group, Inc.^*		122,264

				3,606,591

Consumer Services — 4.5%
	9,800	Bob Evans Farms, Inc.		270,382
	13,800	California Pizza Kitchen, Inc.^*		180,918
	23,486	Capella Education Co.^*		1,282,336
	12,800	Chipotle Mexican Grill, Inc. Class B^*		1,242,752
	600	Corinthian Colleges, Inc.^*		4,338
	18,200	DeVry, Inc.		761,488
	2,600	ITT Educational Services, Inc.^*		119,418
	12,500	Landry’s Restaurants, Inc.		203,500
	38,500	Multimedia Games, Inc.^*		205,590
	21,400	O’Charleys, Inc.		246,528
	110	Papa John’s International, Inc.^*		2,663
	3,751	Premier Exhibitions, Inc.^*^(a)		22,656
	26,315	Pre-Paid Legal Services, Inc.^*		1,116,019
	300	Strayer Education, Inc.		45,750
	12,700	Universal Technical Institute, Inc.^*		148,971
	1,500	WMS Industries, Inc.^*		53,955

				5,907,264

Diversified Financials — 1.8%
	150	Advanta Corp. Class B		1,054
	2,100	Capital Southwest Corp.		259,812
	6,200	GAMCO Investors, Inc. Class A		312,232
	1,880	GFI Group, Inc.		107,724
	19,000	Greenhill & Co., Inc.^(a)		1,321,640
	3,100	Janus Capital Group, Inc.		72,137
	106	NGP Capital Resources Co.		1,741
	8,300	Piper Jaffray Companies, Inc.^*		281,868
	100	Sanders Morris Harris Group, Inc.		816

				2,359,024

Energy — 7.9%
	17,500	Alpha Natural Resources, Inc.^*		760,200
	900	Approach Resources, Inc.^*		14,112
	2,600	Arlington Tankers Ltd.		54,600
	6,900	Berry Petroleum Co. Class A		320,781
	18,100	Bois d’Arc Energy, Inc.^*		388,969
	4,600	Bronco Drilling Co., Inc.^*		74,106
	33,000	Cal Dive International, Inc.^*		342,540
	3,200	Comstock Resources, Inc.^*		128,960
	5,700	Concho Resources, Inc.^*		146,148
	2,900	Dawson Geophysical Co.^*		195,750
	2,900	Delek US Holdings, Inc.		36,743
	300	Dresser-Rand Group, Inc.^*		9,225
	31,900	Energy Partners Ltd.^*		302,093
	30,000	General Maritime Corp.^(a)		708,300
	38,416	Global Industries Ltd.^*		618,114
	7,600	Gulf Island Fabrication, Inc.		218,272
	14,900	Harvest Natural Resources, Inc.^*		179,694
	7,100	Knightsbridge Tankers Ltd.^(a)		189,428


Shares		Description	Value
Common Stocks — (continued)
Energy — (continued)
	14,800	Mariner Energy, Inc.^*	$	399,748
	2,100	NATCO Group, Inc. Class A^*		98,175
	6,200	Newpark Resources, Inc.^*		31,620
	1,400	Nordic American Tanker Shipping Ltd.		39,200
	400	Petroleum Development Corp.^*		27,708
	6,100	Petroquest Energy, Inc.^*		105,774
	1,600	Rex Energy Corp.^*		26,624
	24,500	Rosetta Resources, Inc.^*		481,915
	59,200	Stone Energy Corp.^*		3,096,752
	11,200	Superior Offshore International, Inc.^*		37,072
	17,890	Swift Energy Co.^*		804,871
	4,700	Union Drilling, Inc.^*		82,203
	400	W&T Offshore, Inc.		13,644
	10,900	Willbros Group, Inc.^*^(a)		333,540
	4,700	World Fuel Services Corp.		131,929

				10,398,810

Food & Staples Retailing — 2.7%
	1,000	BJ’s Wholesale Club, Inc.^*		35,690
	5,700	Casey’s General Stores, Inc.		128,820
	1,700	Longs Drug Stores Corp.		72,182
	20,300	Nash Finch Co.		689,794
	30,400	Performance Food Group Co.^*		993,472
	28,062	PriceSmart, Inc.		777,598
	2,700	Ruddick Corp.		99,522
	2,100	The Andersons, Inc.		93,681
	1,200	The Pantry, Inc.^*		25,296
	33,400	Winn-Dixie Stores, Inc.^*		599,864

				3,515,919

Food, Beverage & Tobacco — 3.3%
	15,000	Alliance One International, Inc.^*		90,600
	4,800	Boston Beer Co., Inc. Class A^*		228,192
	13,100	Cal-Maine Foods, Inc.^(a)		437,278
	64,400	Chiquita Brands International, Inc.^*^(a)		1,488,284
	2,800	Flowers Foods, Inc.		69,300
	15,300	Fresh Del Monte Produce, Inc.^*		556,920
	3,900	Green Mountain Coffee Roasters, Inc.^*		123,435
	2,800	Hansen Natural Corp.^*		98,840
	5,700	Imperial Sugar Co.		107,274
	2,300	MGP Ingredients, Inc.		16,077
	3,700	PepsiAmericas, Inc.		94,461
	3,400	Sanderson Farms, Inc.		129,234
	13,300	Universal Corp.		871,549

				4,311,444

Health Care Equipment & Services — 5.4%
	7,000	Abaxis, Inc.^*		162,190
	500	AMERIGROUP Corp.^*		13,665
	9,200	Analogic Corp.		612,168
	4,700	ArthroCare Corp.^*^(a)		156,745
	5,400	Aspect Medical Systems, Inc.^*		32,940
	3,100	Cantel Medical Corp.^*		32,922
	38,100	Conmed Corp.^*		976,884
	5,900	Cynosure, Inc. Class A^*		125,670
	700	Datascope Corp.		29,001
	13,500	Eclipsys Corp.^*		264,735
	3,800	Gen-Probe, Inc.^*		183,160
	38,000	Invacare Corp.		846,640

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRUCTURED SMALL CAP EQUITY FUND

Schedule of Investments (continued)

March 31, 2008 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Health Care Equipment & Services — (continued)
	1,800	Kensey Nash Corp.^*	$	52,110
	45,501	Kindred Healthcare, Inc.^*		995,107
	14,600	Kinetic Concepts, Inc.^*		674,958
	1,300	Medical Action Industries, Inc.^*		21,359
	1,400	Meridian Bioscience, Inc.		46,802
	3,700	Merit Medical Systems, Inc.^*		58,571
	5,500	Molina Healthcare, Inc.^*		134,310
	1,800	Osteotech, Inc.^*		8,550
	6,900	Owens & Minor, Inc.		271,446
	1,400	Phase Forward, Inc.^*		23,912
	14,900	Quidel Corp.^*		239,294
	34,500	RehabCare Group, Inc.^*		517,500
	13,800	RTI Biologics, Inc.^*		130,410
	5,800	Sonic Innovations, Inc.^*		28,014
	9,200	SurModics, Inc.^*^(a)		385,296
	1,700	Symmetry Medical, Inc.^*		28,220
	4,700	Theragenics Corp.^*		18,518
	5,600	TranS1, Inc.^*^(a)		65,240
	1,000	Universal American Corp.^*		10,600

				7,146,937

Household & Personal Products — 0.2%
	100	Alberto-Culver Co.		2,741
	7,500	Central Garden and Pet Co. Class A^*		33,300
	4,700	Elizabeth Arden, Inc.^*		93,765
	1,500	USANA Health Sciences, Inc.^*		33,045
	1,700	WD-40 Co.		56,525

				219,376

Insurance — 5.1%
	14,150	American Physicians Capital, Inc.		655,994
	14,200	AmTrust Financial Services, Inc.		230,182
	111,600	Aspen Insurance Holdings Ltd.		2,944,008
	11,300	Assured Guaranty Ltd.		268,262
	4,000	CastlePoint Holdings Ltd.		38,920
	10,900	Endurance Specialty Holdings Ltd.		398,940
	800	Hallmark Financial Services, Inc.^*		8,928
	6,100	IPC Holdings Ltd.		170,800
	31,600	Max Capital Group Ltd.		827,604
	1,300	National Western Life Insurance Co. Class A		281,827
	27,100	Platinum Underwriters Holdings Ltd.		879,666
	3,000	Stewart Information Services Corp.		83,970

				6,789,101

Materials — 6.4%
	17,500	Calgon Carbon Corp.^*^(a)		263,375
	20,818	CF Industries Holdings, Inc.		2,157,161
	9,100	Compass Minerals International, Inc.		536,718
	100	Ferro Corp.		1,486
	5,900	Horsehead Holding Corp.^*		68,322
	6,600	Kaiser Aluminum Corp.		457,380
	10,100	Koppers Holdings, Inc.		447,531
	4,100	LSB Industries, Inc.^*		60,434
	4,600	Minerals Technologies, Inc.		288,880
	7,300	Olympic Steel, Inc.		329,230
	5,100	OM Group, Inc.^*		278,154
	6,300	Quanex Corp.		325,962
	7,800	Schnitzer Steel Industries, Inc. Class A		553,956


Shares		Description	Value
Common Stocks — (continued)
Materials — (continued)
	46,200	ShengdaTech, Inc.^*^(a)	$	392,700
	10,600	Spartech Corp.		89,570
	2,100	Stepan Co.		80,283
	42,583	Terra Industries, Inc.^*		1,512,974
	100	Tronox, Inc. Class B		390
	700	Universal Stainless & Alloy Products, Inc.^*		20,797
	29,400	Worthington Industries, Inc.^(a)		495,978
	4,500	Zep, Inc.		72,990

				8,434,271

Media — 1.0%
	7,000	Arbitron, Inc.		302,120
	6,100	Belo Corp. Class A		64,477
	100	Cox Radio, Inc. Class A^*		1,188
	4,300	CTC Media, Inc.^*		119,325
	4,500	Global Sources Ltd.^*^(a)		66,825
	100	Harris Interactive, Inc.^*		273
	17,800	Harte-Hanks, Inc.		243,326
	9,600	Lin TV Corp. Class A^*		92,256
	1,900	Media General, Inc. Class A		26,638
	3,400	Morningstar, Inc.^*		208,590
	2,000	Regal Entertainment Group Class A		38,580
	7,500	Scholastic Corp.^*		227,025

				1,390,623

Pharmaceuticals, Biotechnology & Life Sciences — 6.8%
	10,500	Albany Molecular Research, Inc.^*		127,470
	16,800	Alkermes, Inc.^*		199,584
	1,300	BioMarin Pharmaceutical, Inc.^*		45,981
	17,700	Bruker Corp.^*		272,403
	25,350	Caraco Pharmaceutical Laboratories Ltd.^*		455,033
	18,500	Cepheid, Inc.^*		451,215
	26,000	Cubist Pharmaceuticals, Inc.^*		478,920
	1,100	Dionex Corp.^*		84,689
	3,700	Emergent Biosolutions, Inc.^*		33,004
	2,200	Enzon Pharmaceuticals, Inc.^*		20,262
	57,300	eResearchTechnology, Inc.^*		711,666
	2,000	Genomic Health, Inc.^*		37,780
	12,200	GenVec, Inc.^*		21,472
	5,700	Illumina, Inc.^*		432,630
	4,100	Kendle International, Inc.^*		184,172
	4,600	LifeCell Corp.^*		193,338
	6,100	Martek Biosciences Corp.^*		186,477
	11,800	Metabolix, Inc.^*		129,210
	32,100	Millennium Pharmaceuticals, Inc.^*		496,266
	533	Molecular Insight Pharmaceuticals, Inc.^*		3,603
	3,100	Neurocrine Biosciences, Inc.^*		16,740
	7,700	Obagi Medical Products, Inc.^*		66,836
	23,000	OSI Pharmaceuticals, Inc.^*		859,970
	11,900	Par Pharmaceutical Cos, Inc.^*		206,941
	1,000	Parexel International Corp.^*		26,100
	30,800	PharmaNet Development Group, Inc.^*		777,084
	3,200	Poniard Pharmaceuticals, Inc.^*		10,720
	4,600	Progenics Pharmaceuticals, Inc.^*		30,038
	100	Rigel Pharmaceuticals, Inc.^*		1,866
	3,800	United Therapeutics Corp.^*		329,460
	16,400	Varian, Inc.^*		949,888

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRUCTURED SMALL CAP EQUITY FUND

Schedule of Investments (continued)

March 31, 2008 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Pharmaceuticals, Biotechnology & Life Sciences — (continued)
	28,700	Vivus, Inc.^*	$	173,061
	14,900	Watson Pharmaceuticals, Inc.^*		436,868
	8,500	XenoPort, Inc.^*		343,995
	84,800	XOMA Ltd.^*		219,632

				9,014,374

Real Estate — 7.1%
	5,500	Agree Realty Corp. (REIT)		150,975
	21,200	AMB Property Corp. (REIT)		1,153,704
	44,359	Anthracite Capital, Inc. (REIT)^(a)		292,769
	2,300	Education Realty Trust, Inc. (REIT)		28,911
	5,900	Entertainment Properties Trust (REIT)		291,047
	7,500	Federal Realty Investment Trust (REIT)		584,625
	1,300	Getty Realty Corp. (REIT)		20,709
	7,316	Jones Lang LaSalle, Inc.		565,820
	100	LTC Properties, Inc. (REIT)		2,571
	5,000	Maguire Properties, Inc. (REIT)		71,550
	35,391	Medical Properties Trust, Inc. (REIT)^(a)		400,626
	13,865	National Health Investors, Inc. (REIT)		433,281
	18,100	Nationwide Health Properties, Inc. (REIT)^(a)		610,875
	45,600	Post Properties, Inc. (REIT)		1,761,072
	4,000	Potlatch Corp. (REIT)		165,080
	2,700	Rayonier, Inc. (REIT)		117,288
	9,400	Realty Income Corp. (REIT)^(a)		240,828
	14,400	Regency Centers Corp. (REIT)		932,544
	17,000	Taubman Centers, Inc. (REIT)		885,700
	13,700	Ventas, Inc. (REIT)		615,267

				9,325,242

Retailing — 3.6%
	47,400	1-800-FLOWERS.COM, Inc. Class A^*		403,374
	29,200	Aeropostale, Inc.^*		791,612
	9,100	Asbury Automotive Group, Inc.		125,216
	5,400	AutoNation, Inc.^*		80,838
	900	Barnes & Noble, Inc.		27,585
	4,800	Blue Nile, Inc.^*^(a)		259,920
	2,300	Brown Shoe Co., Inc.		34,661
	3,500	GameStop Corp. Class A^*		180,985
	18,300	Gymboree Corp.^*		729,804
	100	Haverty Furniture Companies, Inc.		1,064
	9,800	J. Crew Group, Inc.^*		432,866
	100	Jo-Ann Stores, Inc.^*		1,473
	14,100	RadioShack Corp.		229,125
	400	Shutterfly, Inc.^*		5,948
	100	Syms Corp.		1,214
	600	Systemax, Inc.		7,236
	32,400	The Buckle, Inc.		1,449,252
	1,000	Tween Brands, Inc.^*		24,740

				4,786,913

Semiconductors & Semiconductor Equipment — 1.3%
	1,900	Atheros Communications, Inc.^*		39,596
	400	Cabot Microelectronics Corp.^*		12,860
	200	Cohu, Inc.		3,250
	3,400	International Rectifier Corp.^*		73,100
	100	Micrel, Inc.		927
	3,100	MIPS Technologies, Inc.^*		12,276
	35,800	Monolithic Power Systems, Inc.^*		631,154


Shares		Description	Value
Common Stocks — (continued)
Semiconductors & Semiconductor Equipment — (continued)
	100	Novellus Systems, Inc.^*	$	2,105
	57,200	Skyworks Solutions, Inc.^*		416,416
	4,900	TriQuint Semiconductor, Inc.^*		24,794
	15,700	Varian Semiconductor Equipment Associates, Inc.^*		441,955
	4,400	Zoran Corp.^*		60,104

				1,718,537

Software & Services — 10.9%
	21,900	Actuate Corp.^*		89,790
	3,400	Acxiom Corp.		40,358
	26,000	Advent Software, Inc.^*		1,108,120
	22,000	Ansoft Corp.^*		671,440
	5,500	Ansys, Inc.^*		189,860
	16,400	Art Technology Group, Inc.^*		63,632
	55,900	AsiaInfo Holdings, Inc.^*		607,074
	2,900	Blackbaud, Inc.		70,412
	1,500	BladeLogic, Inc.^*		42,075
	14,800	Bottomline Technologies, Inc.^*		186,480
	119,541	Captaris, Inc.^*		528,371
	96,100	Chordiant Software, Inc.^*		579,483
	19,500	Ciber, Inc.^*		95,550
	7,000	Concur Technologies, Inc.^*		217,350
	100	Convergys Corp.^*		1,506
	1,800	CyberSource Corp.^*		26,298
	2,500	Double-Take Software, Inc.^*		29,200
	10,300	Fair Isaac Corp.		221,656
	3,600	Glu Mobile, Inc.^*		16,164
	39,500	Greenfield Online, Inc.^*		468,470
	3,700	iGate Corp.^*		26,344
	34,100	InfoSpace, Inc.		394,537
	1,600	Interactive Intelligence, Inc.^*		18,832
	70,238	Interwoven, Inc.^*		750,142
	5,100	iPass, Inc.^*		15,402
	12,700	JDA Software Group, Inc.^*		231,775
	13,400	Lawson Software, Inc.^*		100,902
	9,000	Lionbridge Technologies, Inc.^*		30,150
	65,600	Magma Design Automation, Inc.^*		627,792
	6,700	Manhattan Associates, Inc.^*		153,631
	5,700	MicroStrategy, Inc. Class A^*		421,743
	6,700	MPS Group, Inc.^*		79,194
	2,100	MSC.Software Corp.^*		27,279
	5,600	Novell, Inc.^*		35,224
	13,600	On2 Technologies, Inc.^*^(a)		13,872
	18,300	Phoenix Technologies Ltd.^*		286,578
	1,600	Progress Software Corp.^*		47,872
	3,200	PROS Holdings, Inc.^*		40,160
	9,100	QAD, Inc.		76,531
	1,900	Radiant Systems, Inc.^*		26,543
	72,111	RealNetworks, Inc.^*		413,196
	6,600	Renaissance Learning, Inc.		92,334
	19,000	RightNow Technologies, Inc.^*		226,100
	42,300	S1 Corp.^*		300,753
	88,800	Sapient Corp.^*		618,048
	28,800	Secure Computing Corp.^*		185,760
	6,800	Sohu.com, Inc.^*		306,884
	6,400	Sonic Solutions, Inc.^*		61,760
	5,300	SPSS, Inc.^*		205,534

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRUCTURED SMALL CAP EQUITY FUND

Schedule of Investments (continued)

March 31, 2008 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Software & Services — (continued)
	4,018	Startek, Inc.^*	$	37,006
	7,300	Synchronoss Technologies, Inc.^*		146,219
	49,100	Synopsys, Inc.^*		1,115,061
	1,300	Syntel, Inc.		34,645
	2,600	Take-Two Interactive Software, Inc.^*		66,352
	21,500	Taleo Corp. Class A^*		417,100
	23,400	TNS, Inc.^*		482,976
	100	Total System Services, Inc.		2,366
	700	Ultimate Software Group, Inc.^*		21,042
	1,100	United Online, Inc.		11,616
	50,900	Vignette Corp.^*		672,389
	10,600	Vocus, Inc.^*		279,840

				14,354,773

Technology Hardware & Equipment — 3.8%
	30,300	ADTRAN, Inc.		560,550
	1,600	Avnet, Inc.^*		52,368
	1,400	Avocent Corp.^*		23,660
	42,500	Bell Microproducts, Inc.^*		86,700
	8,800	Benchmark Electronics, Inc.^*		157,960
	18,000	Blue Coat Systems, Inc.^*		396,720
	100	Ditech Networks, Inc.^*		294
	2,200	Electronics for Imaging, Inc.^*		32,824
	100	EMS Technologies, Inc.^*		2,714
	12,900	Emulex Corp.^*		209,496
	8,500	Flir Systems, Inc.^*		255,765
	8,400	Foundry Networks, Inc.^*		97,272
	11,600	Hutchinson Technology, Inc.^*		184,556
	22,900	Ingram Micro, Inc. Class A^*		362,507
	1,442	Insight Enterprises, Inc.^*		25,235
	3,610	Loral Space & Communications, Inc.^*		86,062
	7,500	Mercury Computer Systems, Inc.^*		42,150
	33,500	Methode Electronics, Inc.		391,615
	300	National Instruments Corp.		7,842
	100	Newport Corp.^*		1,117
	31,100	Novatel Wireless, Inc.^*		301,048
	3,800	PC Connection, Inc.^*		30,096
	11,400	Plantronics, Inc.		220,134
	4,900	Polycom, Inc.^*		110,446
	13,500	Synaptics, Inc.^*		322,380
	29,410	Tech Data Corp.^*		964,648
	17,900	Tellabs, Inc.^*		97,555

				5,023,714

Telecommunication Services — 1.5%
	5,500	Atlantic Tele-Network, Inc.		186,065
	100	Consolidated Communications Holdings, Inc.		1,513
	43,200	IDT Corp. Class B^*		167,184
	33,200	NTELOS Holdings Corp.		803,440
	16,000	Premiere Global Services, Inc.^*		229,440
	13,100	SureWest Communications		202,526
	52,400	USA Mobility, Inc.		374,136

				1,964,304

Transportation — 1.8%
	15,000	Arkansas Best Corp.		477,900
	5,200	Dollar Thrifty Automotive Group^*		70,928
	7,400	Dynamex, Inc.^*		187,220


Shares		Description	Value
Common Stocks — (continued)
Transportation — (continued)
	3,900	ExpressJet Holdings, Inc.^*	$	10,257
	100	Genesee & Wyoming, Inc. Class A^*		3,440
	2,800	Heartland Express, Inc.		39,928
	3,500	J.B. Hunt Transport Services, Inc.		110,005
	9,400	Marten Transport Ltd.^*		145,888
	5,200	Pacer International, Inc.		85,436
	7,000	Pinnacle Airlines Corp.^*		61,110
	3,100	SkyWest, Inc.		65,472
	12,900	TBS International Ltd. Class A^*^(a)		389,580
	1,200	Universal Truckload Services, Inc.^*		25,044
	41,500	Werner Enterprises, Inc.^(a)		770,240

				2,442,448

Utilities — 2.1%
	100	Alliant Energy Corp.		3,501
	30,400	Aquila, Inc.^*		97,584
	600	Atmos Energy Corp.		15,300
	3,700	Black Hills Corp.		132,386
	1,600	Central Vermont Public Service Corp.		38,240
	5,000	Cleco Corp.		110,900
	10,900	El Paso Electric Co.^*		232,933
	22,850	New Jersey Resources Corp.		709,492
	6,100	Northwest Natural Gas Co.		264,984
	100	OGE Energy Corp.		3,117
	4,500	Otter Tail Corp.		159,255
	200	Pepco Holdings, Inc.		4,944
	27,500	Portland General Electric Co.		620,125
	2,400	South Jersey Industries, Inc.		84,264
	2,100	The Laclede Group, Inc.		74,823
	7,100	Unisource Energy Corp.		158,046

				2,709,894

TOTAL COMMON STOCKS			$	130,764,396


Principal		Interest			Maturity
Amount		Rate			Date	Value
Short-Term Obligation — 0.4%
JPMorgan Chase Euro — Time Deposit
$	484,309		2.023	%	04/01/08	$	484,309

TOTAL INVESTMENTS BEFORE SECURITIES LENDING COLLATERAL						$	131,248,705


		Interest
Shares		Rate		Value

Securities Lending Collateral — 7.7%
Boston Global Investment Trust — Enhanced Portfolio^(c)
	10,085,226	3.147	%	$	10,085,226

TOTAL INVESTMENTS — 107.2%				$	141,333,931

LIABILITIES IN EXCESS OF OTHER ASSETS — (7.2)%					(9,432,875	)

NET ASSETS — 100.0%				$	131,901,056

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) All or a portion of security is segregated for initial margin requirements on futures transactions.



Investment Abbreviation:
REIT		— Real Estate Investment Trust

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 FUNDS

Schedule of Investments (continued)

March 31, 2008 (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 or for securities traded on a foreign securities exchange for which an independent fair value service is not available are valued daily at their last sale price or official closing price on the principal exchange or system on which they are traded. If no sale occurs, such securities and investment companies are valued at the last bid price. Debt securities are valued based on market quotations, which may be furnished by a pricing service or provided by securities dealers. If accurate quotations are not readily available, or if the Investment Adviser believes that such quotations do not accurately reflect fair value, the fair value of the Funds’ investments may be determined based on yield equivalents, a pricing matrix or other sources, under valuation procedures established by the Trustees. 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 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 valuation date. Short-term debt obligations maturing in sixty days or less are valued at amortized cost, which approximates market value. Investments in securities traded on a foreign securities exchange are valued daily at fair value determined by an independent fair value service (if available) under valuation procedures approved by the Board of Trustees consistent with applicable regulatory guidance. The independent service takes into account multiple factors including, but not limited to, movements in the U.S. securities markets, certain depositary receipts, futures contracts and foreign currency exchange rates that have occurred subsequent to the close of foreign securities exchanges. 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 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 United States.

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

Fair Value Measurement — In September 2006, the Financial Accounting Standards Board issued Statement of Financial Accounting Standards No. 157, Fair Value Measurements (“SFAS 157”) which provides guidance in using fair value to measure assets and liabilities. The Funds adopted SFAS 157 as of the beginning of January 2008. SFAS 157 establishes a fair value hierarchy that prioritizes the inputs and valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy under SFAS 157 are described below:


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


Level 2-		Quoted prices in markets that are not active or financial instruments for which all significant inputs are observable, either directly or indirectly;


Level 3-		Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable.

As required by SFAS 157, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The following is a summary of the levels within the fair value hierarchy in which the Funds invests:

GOLDMAN SACHS VARIABLE INSURANCE TRUST FUNDS

Schedule of Investments (continued)

March 31, 2008 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (CONTINUED)



							Strategic
							International
	Capital Growth		Growth and Income		Mid Cap Value		Equity			Growth Opportunities		Money Market
	Investments in		Investments in		Investments in		Investments in			Investments in		Investments in
	Securities Long -		Securities Long -		Securities Long -		Securities Long -			Securities Long -		Securities Long -
Level	Assets		Assets		Assets		Assets			Assets		Assets
Level 1	$	462,136,976	$	536,114,671	$	1,493,450,156	$	39,614,148		$	182,926,315	$	—
Level 2		7,742,532		7,620,350		24,187,227		290,174,199	^(a)		1,219,381		207,732,338	^(b)
Level 3		—		—		—		2,160,381			—		—
Total	$	469,879,508	$	543,735,021	$	1,517,637,383	$	331,948,728		$	184,145,696	$	207,732,338




	Equity Index				Structured U.S. Equity				Structured Small Cap Equity
	Investments in				Investments in					Investments in
	Securities Long -		Other Investments -		Securities Long -		Other Investments -			Securities Long -		Other Investments -
Level	Assets		Assets		Assets		Assets			Assets		Assets
Level 1	$	310,831,266	$	173,465	$	839,494,612		$143,806		$	140,849,232		$57,075
Level 2		5,143,498		—		4,307,501		—			484,699		—
Level 3		—		—		—		—			—		—
Total	$	315,974,764	$	173,465	$	843,802,113		$143,806		$	141,333,931		$57,075



	Core Fixed Income						Government Income
	Investments in						Investments in
	Securities Long -		Other Investments -		Other Investments -		Securities Long -			Other Investments -		Other Investments -
Level	Assets		Assets		Liabilities		Assets			Assets		Liabilities
Level 1	$	—	$	367,202		$129,096	$	850,954			$449,554		$7,737
Level 2		254,500,712		333,114		338,359		96,577,142			—		—
Level 3		1,128,988		—		—		346,761			—		—
Total	$	255,629,700	$	700,316		$467,455	$	97,774,857			$449,554		$7,737


(a)		To adjust for differing local market close timing, the Funds may utilize fair value model prices for international equities provided by an independent service resulting in a Level 2 classification.

(b)		The Funds utilize amortized cost which approximates fair value to value money market investments. This results in a Level 2 classification as amortized cost is considered a model-based price.

GOLDMAN SACHS VARIABLE INSURANCE TRUST FUNDS

Schedule of Investments (continued)

March 31, 2008 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (CONTINUED)

The following is a reconciliation of Level 3 investments for the period ended March 31, 2008:



	Strategic International
	Equity			Core Fixed Income			Government Income
	Investments in			Investments in			Investments in
	Securities Long -			Securities Long -			Securities Long -
Level 3	Assets			Assets			Assets
Beginning Balance as of December 31, 2007	$	—		$	5,846,915		$	2,343,457
Realized gain (loss)		288,274			—			—
Change in unrealized gain (loss)		(1,633,872	)		(105,625	)		(32,442)
Net purchases (sales)		(687,949	)		(66,786	)		(20,513)
Net transfers in and/or out of Level 3		4,193,928			(4,545,516	)		(1,943,741	)
Ending Balance as of March 31, 2008	$	2,160,381		$	1,128,988		$	346,761

In the reconciliation above, transfers into Level 3 during or at the end of the reporting period are reported under Level 3 as of the beginning of the period. Transfers out of Level 3 during or at the end of the reporting period are reported under Level 1 or 2 as of the beginning of the period.

GOLDMAN SACHS VARIABLE INSURANCE TRUST FUNDS

Schedule of Investments (continued)

March 31, 2008 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (CONTINUED)

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

The contractual amounts of forward foreign currency exchange contracts do not necessarily represent the amounts potentially subject to risk. The measurement of the risks associated with these instruments is meaningful only when all related and offsetting transactions are considered. At March 31, 2008, the Funds had segregated sufficient cash and/or securities to cover any commitments under these contracts.

Futures Contracts — The Funds 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.

GOLDMAN SACHS VARIABLE INSURANCE TRUST FUNDS

Schedule of Investments (continued)

March 31, 2008 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (CONTINUED)

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 March 31, 2008, the Fund had an undivided interest in the following Joint Repurchase Agreement Account II which equaled $41,600,000 in principal amount.

REPURCHASE AGREEMENTS


	Principal		Interest			Maturity		Maturity
Counterparty	Amount		Rate			Date		Value

ABN Amro, Inc.	$	2,500,000,000		2.50	%		04/01/08	$	2,500,173,611

Banc of America Securities LLC		3,000,000,000		2.45			04/01/08		3,000,204,167

Banc of America Securities LLC		1,000,000,000		2.50			04/01/08		1,000,069,444

Barclays Capital, Inc.		3,400,000,000		2.50			04/01/08		3,400,236,111

Citigroup Global Markets, Inc.		3,000,000,000		2.50			04/01/08		3,000,208,333

Deutsche Bank Securities, Inc		7,875,000,000		2.50			04/01/08		7,875,546,875

Greenwich Capital Markets		1,250,000,000		2.50			04/01/08		1,250,086,806

JPMorgan Securities		1,500,000,000		2.50			04/01/08		1,500,104,167

Lehman Brothers		475,000,000		2.50			04/01/08		475,032,986

Merrill Lynch		413,400,000		2.50			04/01/08		413,428,708

Merrill Lynch		1,000,000,000		2.55			04/01/08		1,000,070,833

Morgan Stanley		150,000,000		2.50			04/01/08		150,010,417

UBS Securities LLC		1,000,000,000		2.50			04/01/08		1,000,069,444

TOTAL								$	26,565,241,902

At March 31, 2008, the Joint Repurchase Agreement Account II was fully collateralized by Federal Home Loan Bank, 4.210% to 6.000%, due 04/11/08 to 06/29/17; Federal Home Loan Mortgage Corp, 0.000% to 15.500%, due 05/01/08 to 11/01/47 and Federal National Mortgage Association, 0.000% to 15.000%, due 04/01/08 to 03/01/48. The aggregate market value of the collateral, including accrued interest, was $27,176,285,228.

Treasury Inflation-Protected Securities — The Funds may invest in Treasury Inflation-Protected Securities (“TIPS”), specially structured bonds for which the principal amount is adjusted daily to keep pace with inflation, as measured by the U.S. Consumer Pricing Index (“CPI”). The adjustments for interest income due to inflation are reflected in interest income in the Statements of Operations. 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.

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

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 — 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.

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.



Tax Cost	$	462,997,243

Gross unrealized gain		46,162,484
Gross unrealized loss		(39,280,219	)

Net unrealized security gain	$	6,882,265



Tax Cost	$	276,226,995

Gross unrealized gain		66,804,502
Gross unrealized loss		(27,056,733	)

Net unrealized security gain	$	39,747,769


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


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



Tax Cost	$	565,765,672

Gross unrealized gain		38,142,080
Gross unrealized loss		(60,172,731	)

Net unrealized security loss	$	(22,030,651	)



Tax Cost	$	1,527,767,532

Gross unrealized gain		141,902,438
Gross unrealized loss		(152,032,587	)

Net unrealized security loss	$	(10,130,149	)


	As a % of
	Net Assets
Investments Industry Classifications†
Automobiles & Components		2.3	%
Banks		9.2
Capital Goods		8.5
Consumer Durables & Apparel		2.3
Diversified Financials		7.3
Energy		9.5
Food & Staples Retailing		11.1
Food, Beverage & Tobacco		3.4
Insurance		5.8
Materials		8.7
Media		1.8
Pharmaceuticals, Biotechnology & Life Sciences		11.8
Real Estate		4.6
Software & Services		4.9
Telecommunication Services		7.3
Short-term Investments #		8.5

TOTAL INVESTMENTS		107.0	%



Tax Cost	$	356,881,864

Gross unrealized gain		10,584,578
Gross unrealized loss		(35,517,714	)

Net unrealized security loss	$	(24,933,136	)



Tax Cost	$	187,690,353

Gross unrealized gain		14,979,880
Gross unrealized loss		(18,524,537	)

Net unrealized security loss	$	(3,544,657	)



Tax Cost	$	268,900,604

Gross unrealized gain		3,491,968
Gross unrealized loss		(16,762,872	)

Net unrealized security loss	$	(13,270,904	)



Tax Cost	$	884,816,465

Gross unrealized gain		34,379,061
Gross unrealized loss		(75,393,413	)

Net unrealized security loss	$	(41,014,352	)



Tax Cost	$	153,134,850

Gross unrealized gain		7,624,800
Gross unrealized loss		(19,425,719	)

Net unrealized security loss	$	(11,800,919	)


Investment Company Act file number		811-08361


Date of fiscal year end:		December 31


(Registrant)	Goldman Sachs Variable Insurance Trust

By (Signature and Title)*		/s/ JAMES A. McNAMARA, PRESIDENT/PRINCIPAL EXECUTIVE OFFICER

Date May 30, 2008