FORM 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, 2009 (Unaudited)


Shares		Description	Value
Common Stocks — 96.7%
Capital Goods — 3.3%
	132,394	ABB Ltd. ADR	$	1,845,572
	19,000	Danaher Corp.		1,030,180
	12,100	Precision Castparts Corp.		724,790
	49,930	United Technologies Corp.		2,145,992
	35,110	W.W. Grainger, Inc.^(a)		2,464,020

				8,210,554

Commercial & Professional Services — 1.8%
	206,000	Iron Mountain, Inc.^*^(a)		4,567,020

Consumer Durables & Apparel — 3.0%
	204,200	Coach, Inc.^*		3,410,140
	86,580	Fortune Brands, Inc.		2,125,539
	328,700	Newell Rubbermaid, Inc.		2,097,106

				7,632,785

Consumer Services — 2.7%
	202,500	Marriott International, Inc. Class A^(a)		3,312,900
	31,200	McDonald’s Corp.		1,702,584
	140,600	Starwood Hotels & Resorts Worldwide, Inc.		1,785,620

				6,801,104

Diversified Financials — 4.2%
	20,500	CME Group, Inc.		5,050,995
	47,200	JPMorgan Chase & Co.		1,254,576
	266,430	The Charles Schwab Corp.		4,129,665

				10,435,236

Energy — 7.8%
	58,200	Cameron International Corp.^*		1,276,326
	52,100	Halliburton Co.		805,987
	62,700	Hess Corp.		3,398,340
	146,940	Schlumberger Ltd.		5,968,703
	127,740	Suncor Energy, Inc.		2,837,105
	288,400	Weatherford International Ltd.^*		3,192,588
	84,100	Whiting Petroleum Corp.^*^(a)		2,173,985

				19,653,034

Food & Staples Retailing — 0.8%
	40,600	Costco Wholesale Corp.		1,880,592

Food, Beverage & Tobacco — 4.7%
	48,700	Kraft Foods, Inc. Class A		1,085,523
	126,800	PepsiCo, Inc.		6,527,664
	95,600	The Coca-Cola Co.		4,201,620

				11,814,807

Health Care Equipment & Services — 7.4%
	130,200	Baxter International, Inc.		6,668,844
	16,100	C. R. Bard, Inc.		1,283,492
	63,300	Laboratory Corp. of America Holdings^*		3,702,417
	105,100	St. Jude Medical, Inc.^*		3,818,283
	81,200	Zimmer Holdings, Inc.^*		2,963,800

				18,436,836

Household & Personal Products — 2.4%
	106,100	Avon Products, Inc.		2,040,303
	84,300	The Procter & Gamble Co.		3,969,687

				6,009,990

Materials — 1.0%
	38,400	Praxair, Inc.		2,583,936

Media — 2.6%
	145,200	Comcast Corp. Class A		1,980,528


Shares		Description	Value
Common Stocks — (continued)
Media — (continued)
	255,311	Lamar Advertising Co. Class A^*^(a)	$	2,489,282
	119,474	Viacom, Inc. Class B^*^(a)		2,076,458

				6,546,268

Pharmaceuticals, Biotechnology & Life Sciences — 10.2%
	150,634	Amylin Pharmaceuticals, Inc.^*^(a)		1,769,949
	82,428	Charles River Laboratories International, Inc.^*(a)		2,242,866
	92,353	Gilead Sciences, Inc.^*		4,277,791
	109,500	Johnson & Johnson		5,759,700
	151,400	Merck & Co., Inc.		4,049,950
	35,700	Shire PLC ADR		1,283,058
	55,900	Teva Pharmaceutical Industries Ltd. ADR		2,518,295
	102,500	Thermo Fisher Scientific, Inc.^*		3,656,175

				25,557,784

Real Estate — 1.1%
	680,900	CB Richard Ellis Group, Inc. Class A^*		2,744,027

Retailing — 5.6%
	60,600	Advance Auto Parts, Inc.		2,489,448
	50,800	Best Buy Co., Inc.		1,928,368
	231,940	Lowe’s Companies, Inc.		4,232,905
	157,500	Target Corp.		5,416,425

				14,067,146

Semiconductors & Semiconductor Equipment — 1.3%
	143,179	Linear Technology Corp.^(a)		3,290,254

Software & Services — 19.4%
	436,100	Activision Blizzard, Inc.^*^(a)		4,561,606
	176,140	Cognizant Technology Solutions Corp. Class A^*		3,661,950
	220,825	Electronic Arts, Inc.^*		4,016,807
	109,200	Equinix, Inc.^*^(a)		6,131,580
	115,200	Global Payments, Inc.		3,848,832
	14,110	Google, Inc. Class A^*		4,911,127
	591,768	Microsoft Corp.		10,870,778
	119,200	Oracle Corp.^*		2,153,944
	79,000	Visa, Inc. Class A		4,392,400
	334,591	Western Union Co.		4,205,809

				48,754,833

Technology Hardware & Equipment — 13.1%
	112,200	Amphenol Corp. Class A		3,196,578
	49,300	Apple, Inc.^*		5,182,416
	529,090	Cisco Systems, Inc.^*		8,872,839
	369,000	Dell, Inc.^*		3,498,120
	20,300	International Business Machines Corp.		1,966,867
	160,891	QUALCOMM, Inc.		6,260,269
	91,400	Research In Motion Ltd.^*		3,936,598

				32,913,687

Telecommunication Services — 3.7%
	235,690	American Tower Corp. Class A^*		7,172,047
	99,750	Crown Castle International Corp.^*		2,035,897

				9,207,944

GOLDMAN SACHS VARIABLE INSURANCE TRUST CAPITAL GROWTH FUND

Schedule of Investments (continued)

March 31, 2009 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Transportation — 0.6%
	23,500	Burlington Northern Santa Fe Corp.	$	1,413,525

TOTAL COMMON STOCKS			$	242,521,362


Shares		Rate	Value
Investment Company^(b) — 3.6%
JPMorgan U.S. Government Money Market Fund — Capital Shares
	9,058,505	0.482%	$	9,058,505

TOTAL INVESTMENTS BEFORE SECURITIES LENDING REINVESTMENT VEHICLE			$	251,579,867


Securities Lending Reinvestment Vehicle^(b) — 10.6%
Boston Global Investment Trust — Enhanced Portfolio
	26,847,432	0.558%	$	26,552,111

TOTAL INVESTMENTS — 110.9%			$	278,131,978

LIABILITIES IN EXCESS OF OTHER ASSETS — (10.9)%				(27,426,167	)

NET ASSETS — 100.0%			$	250,705,811

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, 2009.



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 CORE FIXED INCOME FUND

Schedule of Investments

March 31, 2009 (Unaudited)


Principal		Interest			Maturity
Amount		Rate			Date	Value
Corporate Bonds — 22.3%
Agriculture — 0.4%
Cargill, Inc.^(a)
$	675,000		6.000	%	11/27/17	$	634,175

Banks — 4.6%
ANZ Capital Trust^(a)
	500,000		4.484		01/29/49		414,907
Bank of America Corp.
	375,000		5.750		12/01/17		313,824
Bear Stearns Companies, Inc.
	550,000		6.400		10/02/17		531,179
	950,000		7.250		02/01/18		969,109
Citigroup, Inc.
	900,000		5.850		07/02/13		816,892
	300,000		5.875		05/29/37		223,947
	300,000		6.875		03/05/38		252,733
Countrywide Home Loan, Inc.
	450,000		6.250		04/15/09		450,073
	150,000		5.625		07/15/09		149,119
	300,000		4.125		09/15/09		296,454
JPMorgan Chase Bank NA
	400,000		6.000		10/01/17		374,950
Merrill Lynch & Co., Inc.
	450,000		5.450		02/05/13		364,083
	325,000		6.400		08/28/17		232,945
Nordea Bank Sweden AB^(a)^(b)^(c)
	600,000		8.950		11/29/49		270,000
PNC Bank NA
	325,000		6.875		04/01/18		316,837
Resona Bank Ltd.^(a)^(b)^(c)
	1,250,000		5.850		09/29/49		637,500
Royal Bank of Scotland Group PLC^(a)^(b)^(c)
	300,000		6.990		10/29/49		129,000
Santander Issuances SA^(a)^(b)
	200,000		5.805		06/20/16		148,761
Wachovia Bank NA
	250,000		7.800		08/18/10		246,392
Wachovia Corp.
	575,000		5.750		02/01/18		508,758
Wells Fargo Capital XIII^(b)^(c)
	475,000		7.700		12/29/49		213,750

							7,861,213

Brokerage — 0.8%
Morgan Stanley & Co.
	275,000		5.750		08/31/12		268,469
	400,000		5.950		12/28/17		360,943
	850,000		6.625		04/01/18		810,975

							1,440,387

Electric — 2.6%
Arizona Public Service Co.
	250,000		6.375		10/15/11		246,675
	225,000		6.250		08/01/16		196,759
CenterPoint Energy, Inc. Series B
	1,000,000		7.250		09/01/10		1,002,445
Commonwealth Edison Co.
	250,000		5.875		02/01/33		208,238
	300,000		5.900		03/15/36		245,669


Principal		Interest			Maturity
Amount		Rate			Date	Value
Corporate Bonds — (continued)
Electric — (continued)
MidAmerican Energy Holdings Co.
$	750,000		6.125	%	04/01/36	$	656,819
Pacific Gas & Electric Co.
	1,350,000		6.050		03/01/34		1,329,039
Progress Energy, Inc.
	200,000		5.625		01/15/16		193,893
	350,000		7.000		10/30/31		323,232

							4,402,769

Energy — 0.8%
Canadian Natural Resources Ltd.
	50,000		5.850		02/01/35		35,536
	400,000		6.500		02/15/37		305,799
	75,000		6.250		03/15/38		55,532
Kerr-McGee Corp.
	100,000		6.950		07/01/24		76,626
Transocean Ltd.
	375,000		6.800		03/15/38		329,450
XTO Energy, Inc.
	650,000		6.500		12/15/18		645,774

							1,448,717

Entertainment — 0.1%
Time Warner Entertainment Co. LP
	225,000		8.375		03/15/23		217,868

Environmental — 0.2%
Waste Management, Inc.
	400,000		7.375		03/11/19		407,970

Financial Companies — 0.9%
GATX Financial Corp.
	1,000,000		8.875		06/01/09		996,354
International Lease Finance Corp.
	275,000		4.950		02/01/11		176,000
SLM Corp.
	600,000		5.400		10/25/11		372,000

							1,544,354

Food & Beverage — 0.7%
Anheuser-Busch InBev Worldwide, Inc.^(a)
	350,000		7.750		01/15/19		348,985
General Mills, Inc.
	500,000		5.200		03/17/15		524,226
Kraft Foods, Inc.
	275,000		6.500		08/11/17		283,178

							1,156,389

Food & Drug Retail — 0.2%
Marks & Spencer PLC^(a)
	155,000		6.250		12/01/17		114,299
	400,000		7.125		12/01/37		252,306

							366,605

Healthcare — 1.1%
McKesson Corp.
	250,000		7.500		02/15/19		265,349
Pfizer, Inc.
	850,000		6.200		03/15/19		905,860
Roche Holdings, Inc.^(a)
	750,000		6.000		03/01/19		771,946

							1,943,155

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments (continued)

March 31, 2009 (Unaudited)


Principal		Interest			Maturity
Amount		Rate			Date	Value
Corporate Bonds — (continued)
Life Insurance — 0.4%
ING Capital Funding Trust III^(b)^(c)
$	250,000		8.439	%	12/29/49	$	72,500
MetLife Capital Trust X^(a)^(b)^(c)
	300,000		9.250		04/08/38		168,000
Phoenix Life Insurance Co.^(a)^(c)
	450,000		7.150		12/15/34		64,125
Swiss Reinsurance Capital I LP^(a)^(b)
	600,000		6.854		05/29/49		183,000
Symetra Financial Corp.^(a)^(b)
	325,000		8.300		10/15/37		105,625

							593,250

Media Cable — 1.6%
Comcast Cable Communications LLC
	275,000		6.750		01/30/11		284,981
Comcast Corp.
	625,000		6.450		03/15/37		547,180
Cox Communications, Inc.
	1,075,000		4.625		01/15/10		1,064,800
Cox Communications, Inc.^(a)
	250,000		8.375		03/01/39		234,563
Rogers Cable, Inc.
	200,000		7.875		05/01/12		207,967
Time Warner Cable, Inc.
	425,000		5.400		07/02/12		410,527

							2,750,018

Metals and Mining — 0.3%
ArcelorMittal
	650,000		6.125		06/01/18		470,243

Pipelines — 2.0%
Boardwalk Pipelines LP
	575,000		5.875		11/15/16		486,080
Energy Transfer Partners LP
	275,000		5.650		08/01/12		258,843
	725,000		5.950		02/01/15		660,166
	225,000		6.700		07/01/18		203,654
Enterprise Products Operating LP Series B
	450,000		5.600		10/15/14		417,772
	325,000		5.000		03/01/15		286,871
ONEOK Partners LP
	325,000		6.650		10/01/36		240,687
	300,000		6.850		10/15/37		227,509
Tennessee Gas Pipeline Co.^(a)
	150,000		8.000		02/01/16		150,000
TEPPCO Partners LP
	550,000		6.650		04/15/18		473,028

							3,404,610

Property/Casualty Insurance — 1.4%
Ace INA Holdings, Inc.
	500,000		5.800		03/15/18		450,098
Arch Capital Group Ltd.
	350,000		7.350		05/01/34		225,597
Aspen Insurance Holdings Ltd.
	350,000		6.000		08/15/14		255,329
Endurance Specialty Holdings Ltd.
	375,000		6.150		10/15/15		293,828


Principal		Interest			Maturity
Amount		Rate			Date	Value
Corporate Bonds — (continued)
Property/Casualty Insurance — (continued)
Marsh & McClennan Companies, Inc.
$	600,000		5.150	%	09/15/10	$	576,000
White Mountains Reinsurance Group Ltd.^(a)
	600,000		6.375		03/20/17		362,591
ZFS Finance USA Trust^(a)^(b)^(c)
	675,000		5.875		05/09/32		267,273

							2,430,716

REITs — 0.6%
Simon Property Group LP
	800,000		6.125		05/30/18		628,865
Westfield Capital Corp. Ltd.^(a)
	225,000		4.375		11/15/10		208,513
Westfield Group^(a)
	125,000		5.400		10/01/12		103,905

							941,283

Retailers — 0.3%
CVS/Caremark Corp.
	525,000		5.750		06/01/17		511,960

Technology — 0.2%
Fiserv, Inc.
	350,000		6.125		11/20/12		346,271

Tobacco — 1.0%
Altria Group, Inc.
	500,000		9.700		11/10/18		544,281
BAT International Finance PLC^(a)
	375,000		9.500		11/15/18		426,067
Philip Morris International, Inc.
	800,000		5.650		05/16/18		794,885

							1,765,233

Wireless Telecommunications — 0.7%
New Cingular Wireless Services, Inc.
	675,000		7.875		03/01/11		718,219
	500,000		8.750		03/01/31		545,422

							1,263,641

Wirelines Telecommunications — 1.4%
GTE Corp.
	750,000		7.510		04/01/09		750,000
Telecom Italia Capital SA
	225,000		4.000		01/15/10		221,576
	300,000		4.875		10/01/10		294,000
	800,000		4.950		09/30/14		688,000
Telefonica Europe BV
	300,000		7.750		09/15/10		313,563
Verizon Communications, Inc.
	150,000		6.400		02/15/38		134,279

							2,401,418

TOTAL CORPORATE BONDS						$	38,302,245


Mortgage-Backed Obligations — 66.7%
Adjustable Rate FHLMC^(b) — 3.0%
$	2,160,218		4.846	%	09/01/35	$	2,215,802
	2,779,819		4.733		10/01/35		2,873,339

							5,089,141

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments (continued)

March 31, 2009 (Unaudited)


Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
Adjustable Rate FNMA^(b) — 3.6%
$	831,252		3.815	%	05/01/33	$	834,723
	1,321,183		3.966		05/01/35		1,326,286
	2,102,937		5.328		09/01/35		2,163,776
	1,812,977		5.087		12/01/35		1,870,454

							6,195,239

Adjustable Rate Non-Agency^(b) — 14.4%
American Home Mortgage Assets Trust Series 2007-1, Class A1
	2,521,249		2.333		02/25/47		763,317
Bear Stearns Adjustable Rate Mortgage Trust Series 2004-1, Class 21A1
	49,266		4.861		04/25/34		32,374
Bear Stearns Adjustable Rate Mortgage Trust Series 2005-3, Class 2A1
	108,999		5.075		06/25/35		60,858
Bear Stearns Mortgage Funding Trust Series 2006-AR1, Class 2A1
	1,725,286		0.742		08/25/36		649,770
Chase Mortgage Finance Corp. Series 2007-A1, Class 2A1
	2,085,094		4.135		02/25/37		1,584,222
Countrywide Alternative Loan Trust Series 2005-38, Class A1
	331,216		3.133		09/25/35		130,102
Countrywide Alternative Loan Trust Series 2006-OA10, Class 4A1
	1,831,523		0.712		08/25/46		667,668
Countrywide Alternative Loan Trust Series 2006-OA16, Class A2
	3,441,292		0.712		10/25/46		1,278,851
Countrywide Home Loan Mortgage Pass-Through Trust Series 2003-52, Class A1
	170,715		5.266		02/19/34		96,472
Countrywide Home Loan Mortgage Pass-Through Trust Series 2004-HYB6, Class A2
	28,601		4.537		11/20/34		15,837
Countrywide Home Loan Mortgage Pass-Through Trust Series 2005-HYB4, Class 2A1
	154,193		4.895		08/20/35		78,723
Downey Savings & Loan Association Mortgage Loan Trust Series 2006-AR2, Class 2A1A
	1,499,630		0.756		11/19/37		546,617
Harborview Mortgage Loan Trust Series 2005-14, Class 5A1A
	684,573		5.731		12/19/35		350,848
Indymac Index Mortgage Loan Trust Series 2005-AR15, Class A1
	623,284		5.369		09/25/35		343,180
Indymac Index Mortgage Loan Trust Series 2006-AR2, Class 1A1A
	1,355,687		0.742		04/25/46		497,867
Indymac Index Mortgage Loan Trust Series 2006-AR4, Class A1A
	1,379,232		0.732		05/25/46		524,066
J.P. Morgan Mortgage Trust Series 2007-A1, Class 1A1
	788,542		4.197		07/25/35		567,750
J.P. Morgan Mortgage Trust Series 2007-A1, Class 2A2
	702,892		4.737		07/25/35		505,809


Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
Adjustable Rate Non-Agency^(b) — (continued)
J.P. Morgan Mortgage Trust Series 2007-A1, Class 5A2
$	692,527		4.769	%	07/25/35	$	462,586
Lehman XS Trust Series 2005-7N, Class 1A1A
	559,328		0.792		12/25/35		232,944
Lehman XS Trust Series 2007-16N, Class 2A2
	937,313		1.372		09/25/47		332,604
Luminent Mortgage Trust Series 2006-2, Class A1A
	1,382,215		0.722		02/25/46		498,363
Luminent Mortgage Trust Series 2006-5, Class A1A
	630,278		0.712		07/25/36		218,976
Master Adjustable Rate Mortgages Trust Series 2006-OA2, Class 4A1A
	754,838		2.483		12/25/46		222,195
Merrill Lynch Mortgage Investors, Inc. Series 2005-A9, Class 2A1C
	3,000,000		5.148		12/25/35		1,567,843
Residential Accredit Loans, Inc. Series 2005-QO5, Class A1
	1,062,376		2.633		01/25/46		433,062
Residential Accredit Loans, Inc. Series 2007-QH9, Class A1
	2,857,649		6.546		11/25/37		752,810
Residential Funding Mortgage Securities I Series 2005-SA4, Class 2A2
	699,422		5.180		09/25/35		408,366
Structured Adjustable Rate Mortgage Loan Trust Series 2004-5, Class 3A1
	62,672		4.380		05/25/34		38,222
Structured Adjustable Rate Mortgage Loan Trust Series 2004-12, Class 3A2
	29,260		5.250		09/25/34		16,792
Structured Adjustable Rate Mortgage Loan Trust Series 2004-16, Class 3A1
	110,384		5.450		11/25/34		61,556
Structured Asset Mortgage Investments, Inc. Series 2007-AR6, Class A1
	2,270,504		3.133		08/25/47		844,659
Thornburg Mortgage Securities Trust Series 2006-4, Class A2B
	2,222,986		0.642		07/25/36		1,828,484
Thornburg Mortgage Securities Trust Series 2006-5, Class A1
	1,936,299		0.642		09/25/46		1,641,576
Washington Mutual Alternative Mortgage Pass-Through Certificates Series 2006-AR9, Class 2A
	2,418,728		2.473		11/25/46		737,547
Washington Mutual Mortgage Pass-Through Certificates Series 2004-AR3, Class A2
	44,892		4.176		06/25/34		34,768
Washington Mutual Mortgage Pass-Through Certificates Series 2005-AR10, Class 1A3
	2,000,000		4.831		09/25/35		944,513
Washington Mutual Mortgage Pass-Through Certificates Series 2006-AR11, Class 1A
	2,564,827		2.593		09/25/46		821,144
Washington Mutual Mortgage Pass-Through Certificates Series 2006-AR11, Class 3A1A
	710,917		2.553		09/25/46		227,561

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments (continued)

March 31, 2009 (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 2007-OA2, Class 1A
$	770,736		2.333	%	03/25/47	$	246,286
Wells Fargo Alternative Loan Trust Series 2007-PA6, Class A1
	2,427,438		6.599		12/28/37		1,212,749
Wells Fargo Mortgage Backed Securities Trust Series 2005-AR6, Class A1
	1,954,392		5.034		04/25/35		1,479,893
Wells Fargo Mortgage Backed Securities Trust Series 2006-AR10, Class 5A3
	1,250,766		5.593		07/25/36		679,769

							24,639,599

Collateralized Mortgage Obligations — 2.6%
Interest Only^(b)^(d) — 0.0%
FHLMC Series 2006-3167, Class XI
	392,155		0.000		10/15/35		28
FNMA Series 2004-71, Class DI
	541,072		0.000		04/25/34		2,932

							2,960

Planned Amortization Class — 1.8%
FNMA Series 2003-92, Class PD
	3,000,000		4.500		03/25/17		3,096,143

Regular Floater — 0.8%
FHLMC Series 2005-3038, Class XA^(b)^(e)
	66,644		0.000		09/15/35		61,458
FHLMC Series 2006-3167, Class X^(b)^(e)
	168,530		0.000		06/15/36		155,784
FHLMC Series 2007-3275, Class UF^(b)^(e)
	72,286		0.000		02/15/37		71,338
FNMA Series 2006-68, Class FM^(b)
	930,990		0.972		08/25/36		907,732
FNMA Series 2006-81, Class LF^(b)^(e)
	66,653		0.000		09/25/36		65,152
FNMA Series 2007-56, Class GY^(b)^(e)
	73,842		0.000		06/25/37		73,053

							1,334,517

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS						$	4,433,620

Commercial Mortgage-Backed Securities — 5.7%
Adjustable Rate Non-Agency^(b) — 1.4%
Wachovia Bank Commercial Mortgage Trust Series 2005-C21, Class A4
	3,000,000		5.210		10/15/44		2,448,824

Sequential Fixed Rate — 4.3%
Bear Stearns Commercial Mortgage Securities Series 1999-WF2, Class A2
	1,015,088		7.080		07/15/31		1,015,048
GE Capital Commercial Mortgage Corp. Series 2002-1A, Class A3
	2,700,000		6.269		12/10/35		2,687,017
J.P. Morgan Chase Commercial Mortgage Securities Corp. Series 2005-LDP2, Class A4
	1,500,000		4.738		07/15/42		1,089,572


Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
Sequential Fixed Rate — (continued)
Morgan Stanley Dean Witter Capital I Series 2003-TOP9, Class A2
$	2,700,000		4.740	%	11/13/36	$	2,499,638

							7,291,275

TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES						$	9,740,099

Federal Agencies — 37.4
FHLMC — 8.5%
	27,078		7.000		08/01/10		27,779
	10,270		7.000		11/01/11		10,664
	12,073		7.000		12/01/11		12,535
	59,715		7.500		06/01/15		63,086
	201,001		7.000		07/01/16		211,854
	1,112,258		5.500		02/01/18		1,164,895
	84,181		5.500		04/01/18		88,165
	155,764		4.500		05/01/18		161,413
	34,570		4.500		06/01/18		35,823
	138,586		4.500		09/01/18		143,612
	160,691		5.500		09/01/18		168,296
	108,487		4.500		10/01/18		112,421
	111,433		4.500		11/01/18		115,473
	773,871		4.500		12/01/18		801,935
	41,218		4.500		01/01/19		42,713
	81,144		4.500		03/01/19		84,015
	19,314		9.500		08/01/19		21,215
	894		9.500		08/01/20		984
	288,651		6.500		10/01/20		307,867
	32,809		6.500		01/01/24		34,908
	198,931		6.500		12/01/27		212,639
	105,472		6.000		03/01/29		111,456
	1,349		6.000		04/01/29		1,426
	60,589		7.500		12/01/29		64,981
	986		7.500		11/01/30		1,058
	428,823		6.500		12/01/31		457,152
	548,816		7.000		05/01/32		585,696
	2,469		6.000		08/01/32		2,599
	329,087		7.000		12/01/32		351,201
	2,752,723		6.500		10/01/34		2,934,575
	1,909,572		5.000		05/01/35		1,972,189
	101,155		5.000		11/01/35		104,472
	211,410		5.000		12/01/35		218,481
	54,084		5.000		03/01/36		55,858
	447,654		5.000		06/01/36		462,333
	25,009		6.000		11/01/36		26,141
	76,820		6.000		09/01/37		81,204
	167,901		6.000		10/01/37		175,531
	119,785		6.000		11/01/37		125,228
	103,058		6.000		02/01/38		109,005
	26,673		6.000		04/01/38		27,885
	650,881		5.500		06/01/38		676,098
	405,174		6.000		07/01/38		428,226
	557,041		6.000		08/01/38		582,355
	22,947		6.000		09/01/38		23,982
	566,234		6.500		09/01/38		596,969
	72,032		6.000		10/01/38		76,233

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments (continued)

March 31, 2009 (Unaudited)


Principal		Interest		Maturity
Amount		Rate		Date		Value
Mortgage-Backed Obligations — (continued)
FHLMC — (continued)
$	381,540		6.000	%	11/01/38		$	399,134
	26,164		6.000		02/01/39			27,383

								14,501,143

FNMA — 26.6%
	535		9.000		02/01/10			553
	40,522		6.000		08/01/13			42,543
	1,721		7.500		01/01/14			1,782
	148,637		7.500		08/01/15			156,653
	59,953		6.000		04/01/16			63,176
	135,093		6.500		05/01/16			142,603
	204,905		6.500		09/01/16			216,297
	263,016		6.500		11/01/16			277,637
	57,395		6.000		12/01/16			60,481
	520,521		6.000		02/01/17			548,269
	73,921		7.500		04/01/17			77,479
	816,861		6.000		10/01/17			860,407
	110,261		5.000		02/01/18			115,194
	834,839		5.500		02/01/18			875,659
	643,149		5.000		04/01/18			671,925
	1,132,943		5.000		05/01/18			1,184,120
	588,312		4.500		06/01/18			610,024
	125,274		5.000		06/01/18			130,879
	76,636		6.500		08/01/18			81,601
	349,367		7.000		08/01/18			377,617
	3,296,676		4.000		09/01/18			3,378,326
	213,793		5.000		11/01/18			223,359
	168,780		4.500		12/01/18			173,963
	153,765		5.000		02/01/19			160,367
	1,103,605		5.000		03/01/19			1,150,991
	829,026		5.000		04/01/19			864,623
	541,667		5.000		08/01/19			564,925
	233,668		5.000		10/01/19			243,701
	985,740		5.000		11/01/19			1,028,065
	921,371		4.500		05/01/23			949,114
	17,839		5.000		06/01/23			18,499
	1,245,976		5.500		09/01/23			1,302,741
	194,743		5.500		10/01/23			204,000
	671		7.000		07/01/25			721
	8,638		7.000		11/01/25			9,283
	62,520		9.000		11/01/25			69,180
	294,990		7.000		08/01/26			318,619
	4,009		7.000		08/01/27			4,325
	18,961		7.000		09/01/27			20,456
	124,178		6.000		12/01/27			130,008
	698		7.000		01/01/28			753
	627,643		6.000		02/01/29			663,427
	146,324		6.500		03/01/29			156,418
	27,882		6.500		05/01/29			29,805
	567,486		6.000		06/01/29			599,865
	219,815		6.500		06/01/29			234,976
	126,347		6.500		07/01/29			135,062
	199,718		6.500		08/01/29			213,494
	6,017		7.000		09/01/29			6,483
	99,206		6.500		10/01/29			106,048
	79,477		8.000		10/01/29			86,494
	131,354		6.500		11/01/29			140,413


Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
FNMA — (continued)
$	95,709		6.500	%	12/01/29	$	102,310
	38,648		7.000		12/01/29		41,643
	1,602		8.500		04/01/30		1,752
	8,003		8.000		05/01/30		8,542
	470		8.500		06/01/30		514
	158,158		6.500		04/01/31		168,571
	37,880		7.000		05/01/32		40,712
	269,342		7.000		06/01/32		289,125
	327,547		7.000		08/01/32		351,605
	81,279		8.000		08/01/32		88,232
	221,261		5.500		03/01/33		230,472
	180,122		5.500		05/01/33		187,620
	27,538		5.500		06/01/33		28,684
	350,121		5.500		07/01/33		364,695
	4,466		5.500		09/01/33		4,665
	5,722		5.500		02/01/34		5,976
	902		5.500		04/01/34		944
	160,175		5.500		06/01/34		166,843
	2,933,375		5.000		07/01/34		3,031,769
	64,476		5.500		12/01/34		67,292
	455,110		6.000		04/01/35		479,069
	26,388		7.000		05/01/35		28,149
	1,328,189		5.000		06/01/35		1,371,874
	20,658		5.000		09/01/35		21,334
	7,564		5.500		09/01/35		7,898
	143,607		6.000		09/01/36		150,093
	20,670		6.000		10/01/36		21,603
	230,659		6.000		11/01/36		241,076
	3,184		5.500		12/01/36		3,320
	1,158		5.500		02/01/37		1,207
	6,054		5.500		03/01/37		6,310
	94,747		5.500		04/01/37		98,766
	226,927		5.500		05/01/37		236,565
	126,855		5.000		06/01/37		130,901
	722,214		5.500		06/01/37		750,300
	1,023,854		6.000		06/01/37		1,070,451
	695,807		5.000		07/01/37		717,999
	49,848		5.500		07/01/37		51,813
	20,767		6.000		07/01/37		21,874
	83,222		5.500		08/01/37		86,454
	87,810		6.000		08/01/37		91,857
	256,854		6.000		09/01/37		268,404
	19,938		6.500		09/01/37		21,025
	39,691		5.500		10/01/37		41,387
	53,418		6.000		10/01/37		56,076
	909,163		6.500		10/01/37		957,908
	105,408		7.000		10/01/37		112,376
	133,473		6.000		11/01/37		139,748
	1,177,928		6.000		12/01/37		1,232,408
	60,345		5.500		01/01/38		62,923
	325,168		5.500		02/01/38		339,043
	257,747		6.000		02/01/38		271,204
	689,091		5.500		03/01/38		716,788
	1,031,397		6.000		03/01/38		1,078,969
	732,364		5.500		04/01/38		764,495
	223,554		5.500		05/01/38		234,110

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments (continued)

March 31, 2009 (Unaudited)


Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
FNMA — (continued)
$	62,976		6.000	%	05/01/38	$	66,590
	1,568,866		5.500		06/01/38		1,641,370
	88,641		6.000		06/01/38		93,608
	1,417,511		5.500		07/01/38		1,482,982
	161,598		6.000		07/01/38		170,754
	456,261		5.500		08/01/38		476,253
	52,973		6.000		08/01/38		56,013
	544,115		5.500		09/01/38		568,667
	1,296,861		6.000		09/01/38		1,357,152
	289,687		5.500		10/01/38		302,444
	78,835		6.000		10/01/38		83,359
	265,964		5.500		11/01/38		278,037
	78,083		6.000		11/01/38		82,564
	42,857		5.500		12/01/38		44,695
	1,942,395		5.000		01/01/39		2,014,600
	119,132		5.500		01/01/39		124,241
	29,429		6.000		01/01/39		30,733
	61,732		5.500		02/01/39		64,209
	9,292		5.500		03/01/39		9,690

							45,699,107

GNMA — 2.3%
	22,166		7.000		03/15/12		22,707
	15,861		7.000		06/15/23		17,050
	20,852		7.000		10/15/25		22,405
	24,979		7.000		11/15/25		26,839
	4,327		7.000		02/15/26		4,640
	17,829		7.000		04/15/26		19,117
	7,148		7.000		03/15/27		7,634
	1,325		7.000		06/15/27		1,415
	8,426		7.000		10/15/27		8,999
	150,897		7.000		11/15/27		161,161
	7,782		7.000		01/15/28		8,315
	48,134		7.000		02/15/28		51,432
	16,997		7.000		03/15/28		18,161
	6,144		7.000		04/15/28		6,565
	977		7.000		05/15/28		1,044
	19,487		7.000		06/15/28		20,822
	38,538		7.000		07/15/28		41,178
	115,639		7.000		08/15/28		123,562
	59,280		7.000		09/15/28		63,342
	5,463		7.000		11/15/28		5,837
	5,757		7.500		11/15/30		6,074
	3,767		7.000		10/15/31		4,025
	656		7.000		12/15/31		701
	37,177		7.500		10/15/32		39,826
	1,231,596		6.000		08/20/34		1,293,726
	281,950		6.000		08/15/38		294,977
	378,636		6.000		09/15/38		396,130
	294,689		6.000		12/15/38		308,733
	1,000,000		4.500		TBA-30yr^(f)	1,015,625

							3,992,042

TOTAL FEDERAL AGENCIES						$	64,192,292

TOTAL MORTGAGE-BACKED OBLIGATIONS						$	114,289,990


Principal		Interest			Maturity
Amount		Rate			Date	Value
Agency Debentures — 3.4%
FNMA
$	3,500,000		1.750	%	03/23/11	$	3,521,361
	300,000		0.000	^(g)	10/09/19		156,432
Tennessee Valley Authority^(h)
	2,000,000		5.375		04/01/56		2,135,447

TOTAL AGENCY DEBENTURES						$	5,813,240


Asset-Backed Securities — 1.1%
Home Equity — 1.1%
CIT Mortgage Loan Trust Series 2007-1, Class 2A1^(a)^(b)
$	938,968		1.522	%	10/25/37	$	704,226
CIT Mortgage Loan Trust Series 2007-1, Class 2A2^(a)^(b)
	350,000		1.772		10/25/37		105,000
CIT Mortgage Loan Trust Series 2007-1, Class 2A3^(a)^(b)
	700,000		1.972		10/25/37		192,500
GMAC Mortgage Corp. Loan Trust Series 2007-HE3, Class 1A1
	248,703		7.000		09/25/37		86,628
GMAC Mortgage Corp. Loan Trust Series 2007-HE3, Class 2A1
	267,334		7.000		09/25/37		89,157
HFC Home Equity Loan Asset Backed Certificates Series 2007-3, Class APT^(b)
	1,075,840		1.745		11/20/36		720,645

TOTAL ASSET-BACKED SECURITIES						$	1,898,156


Supranational — 2.5%
Banks — 2.5%
Asian Development Bank
$	5,000,000		1.000	%	10/01/15	$	4,301,815

U.S. Treasury Obligations — 0.7%
United States Treasury Inflation Indexed Bonds-TIPS
$	400,000		2.375	%	01/15/27	$	437,384
	400,000		1.750		01/15/28		386,011
	200,000		3.625		04/15/28		321,875

TOTAL U.S. TREASURY OBLIGATIONS						$	1,145,270


	Interest
Shares	Rate			Value
Preferred Stock — 0.1%
Banks— 0.1%
Royal Bank of Scotland Group PLC ADR
475,000		9.118	%	$	232,750


Shares	Rate			Value
Investment Company^(b) — 3.6%
JPMorgan U.S. Government Money Market Fund — Capital Shares
6,228,229		0.482	%	$	6,228,229

TOTAL INVESTMENTS — 100.4%				$	172,211,695

LIABILITIES IN EXCESS OF OTHER ASSETS — (0.4)%					(719,354	)

NET ASSETS — 100.0%				$	171,492,341

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments (continued)

March 31, 2009 (Unaudited)

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 $6,997,267, which represents approximately 4.1% of net assets as of March 31, 2009.

(b) Variable rate security. Interest rate disclosed is that which is in effect at March 31, 2009.

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

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

(f) TBA (To be announced) Securities are purchased/sold 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 (excluding forward sales contracts, if any) amounts to $1,015,625 which represents approximately 0.6% of net assets as of March 31, 2009.

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

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




Investment Abbreviations:
ADR		— American Depositary Receipt
FHLMC		— Federal Home Loan Mortgage Corp.
FNMA		— Federal National Mortgage Association
GNMA		— Government National Mortgage Association
LIBOR		— London Inter Bank Offered Rate
REIT		— Real Estate Investment Trust
TIPS		— Treasury Inflation-Protected 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 CORE FIXED INCOME FUND

Schedule of Investments (continued)

March 31, 2009 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FORWARD FOREIGN CURRENCY CONTRACTS — At March 31, 2009, 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	Purchase		6/17/09	$	372,312	$	402,696	$	30,384
British Pound	Sale		6/17/09		85,199		83,240		1,959
British Pound	Purchase		6/17/09		185,298		188,005		2,707
Euro	Sale		6/17/09		475,008		466,357		8,651
Euro	Purchase		6/17/09		213,381		221,885		8,504
Japanese Yen	Sale		6/17/09		284,000		276,376		7,624
New Zealand Dollar	Purchase		6/17/09		372,541		397,686		25,145

TOTAL								$	84,974


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

British Pound	Purchase		6/17/09	$	167,476	$	165,043	$	(2,433	)
British Pound	Sale		6/17/09		179,646		180,531		(885	)
Canadian Dollar	Sale		6/17/09		207,240		213,117		(5,877	)
Euro	Sale		6/17/09		371,372		382,510		(11,138	)
Euro	Purchase		6/17/09		191,530		188,669		(2,861	)
Japanese Yen	Purchase		6/17/09		43,912		43,617		(295	)
New Zealand Dollar	Sale		6/17/09		418,532		462,075		(43,543	)
Norwegian Krone	Purchase		6/17/09		54,000		51,015		(2,985	)
Norwegian Krone	Sale		6/17/09		130,754		137,586		(6,832	)
Swedish Krona	Sale		6/17/09		58,642		65,098		(6,456	)
Swiss Franc	Sale		6/17/09		172,468		175,705		(3,237	)

TOTAL								$	(86,542	)


Open Forward Foreign Currency
Cross Contracts with Unrealized Gain	Expiration		Value on		Current		Unrealized
(Purchase/Sale)	Date		Settlement Date		Value		Gain

Australian Dollar/Canadian Dollar		6/17/09	$	70,664	$	74,035	$	3,371
Australian Dollar/Japanese Yen		6/17/09		81,716		86,490		4,774
Euro/British Pound		6/17/09		147,543		150,138		2,595
Euro/Swiss Franc		6/17/09		115,450		118,250		2,800
Norwegian Krone/Japanese Yen		6/17/09		69,715		71,387		1,672
Swedish Krona/Euro		6/17/09		115,593		116,401		808
Swiss Franc/Japanese Yen		6/17/09		100,445		103,839		3,394

TOTAL							$	19,414


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

Australian Dollar/Japanese Yen		6/17/09	$	83,484	$	83,030	$	(454	)
British Pound/Swiss Franc		6/17/09		67,872		66,017		(1,855	)
Euro/Japanese Yen		6/17/09		192,667		189,998		(2,669	)
Euro/Swedish Krona		6/17/09		51,307		50,443		(864	)
Euro/Swiss Franc		6/17/09		73,201		73,076		(125	)
Japanese Yen/Australian Dollar		6/17/09		217,954		207,093		(10,861	)

TOTAL							$	(16,828	)

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments (continued)

March 31, 2009 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (CONTINUED)

FORWARD SALES CONTRACTS — At March 31, 2009, the Fund had the following forward sales contracts:

Interest

Maturity

Settlement

Principal

Description

Rate

Date

Amount

Value

FNMA

5.500

04/25/39

04/13/09

1,000,000

1,037,812

FNMA

6.000

04/25/39

04/13/09

4,000,000

4,177,500

TOTAL (Proceeds Receivable: $5,189,707)

5,215,312

FUTURES CONTRACTS — At March 31, 2009, the following futures contracts were open:


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

Eurodollars		14		April 2009	$	3,459,750		$	8,630
Eurodollars		14		May 2009		3,460,625			9,511
Eurodollars		15		June 2009		3,708,750			99,519
Eurodollars		7		September 2009		1,730,838			27,101
Eurodollars		7		December 2009		1,728,213			28,676
Euro-Schatz		72		June 2009		10,359,413			15,593
Long Gilt		15		June 2009		2,651,818			43,403
U.S. Treasury Bond		28		June 2009		3,631,688			62,365
2 Year U.S. Treasury Notes		(19	)	June 2009		(4,139,922	)		(6,234	)
5 Year U.S. Treasury Notes		134		June 2009		15,914,594			170,982
10 Year U.S. Treasury Notes		112		June 2009		13,896,750			293,545

TOTAL								$	753,091

TAX INFORMATION — At March 31, 2009, the Fund’s aggregate security unrealized gains and losses based on cost for U.S. Federal income tax purposes were as follows:



Tax Cost	$	206,549,290

Gross unrealized gain		3,799,906
Gross unrealized loss		(38,137,501	)

Net unrealized security loss	$	(34,337,595	)

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

GOLDMAN SACHS VARIABLE INSURANCE TRUST EQUITY INDEX FUND

Schedule of Investments

March 31, 2009 (Unaudited)


Shares		Description	Value
Common Stocks — 99.1%
Automobiles & Components — 0.3%
	55,113	Ford Motor Co.^*	$	144,947
	13,400	General Motors Corp.		25,996
	5,000	Harley-Davidson, Inc.		66,950
	13,435	Johnson Controls, Inc.		161,220
	5,600	The Goodyear Tire & Rubber Co.^*		35,056

				434,169

Banks — 2.1%
	12,300	BB&T Corp.		208,116
	3,450	Comerica, Inc.		63,170
	13,805	Fifth Third Bancorp		40,311
	4,708	First Horizon National Corp.		50,567
	12,100	Hudson City Bancorp, Inc.		141,449
	8,349	Huntington Bancshares, Inc.		13,859
	10,800	KeyCorp		84,996
	1,800	M&T Bank Corp.		81,432
	6,100	Marshall & Ilsley Corp.		34,343
	7,700	People’s United Financial, Inc.		138,369
	9,557	PNC Financial Services Group, Inc.		279,925
	16,125	Regions Financial Corp.		68,693
	7,700	SunTrust Banks, Inc.		90,398
	39,351	U.S. Bancorp		574,918
	37,540	Washington Mutual, Inc.		2,083
	95,734	Wells Fargo & Co.		1,363,252
	2,800	Zions Bancorp		27,524

				3,263,405

Capital Goods — 6.9%
	15,539	3M Co.		772,599
	13,671	Caterpillar, Inc.		382,241
	3,900	Cooper Industries Ltd. Class A		100,854
	4,700	Cummins, Inc.		119,615
	5,800	Danaher Corp.		314,476
	9,479	Deere & Co.		311,575
	4,250	Dover Corp.		112,115
	3,800	Eaton Corp.		140,068
	17,204	Emerson Electric Co.		491,690
	2,800	Fastenal Co.		90,034
	1,300	Flowserve Corp.		72,956
	3,982	Fluor Corp.		137,578
	8,706	General Dynamics Corp.		362,083
	237,567	General Electric Co.		2,401,802
	2,800	Goodrich Corp.		106,092
	16,608	Honeywell International, Inc.		462,699
	8,800	Illinois Tool Works, Inc.		271,480
	7,039	Ingersoll-Rand Co. Ltd. Class A		97,138
	4,000	ITT Corp.		153,880
	2,800	Jacobs Engineering Group, Inc.^*		108,248
	2,700	L-3 Communications Holdings, Inc.		183,060
	7,482	Lockheed Martin Corp.		516,483
	8,500	Masco Corp.		59,330
	7,392	Northrop Grumman Corp.		322,587
	8,142	PACCAR, Inc.		209,738
	2,700	Pall Corp.		55,161
	3,648	Parker Hannifin Corp.		123,959
	3,200	Precision Castparts Corp.		191,680
	8,979	Raytheon Co.		349,642


Shares		Description	Value
Common Stocks — (continued)
Capital Goods — (continued)
	3,300	Rockwell Automation, Inc.	$	72,072
	3,460	Rockwell Collins, Inc.		112,935
	5,900	Textron, Inc.		33,866
	16,267	The Boeing Co.		578,780
	3,500	The Manitowoc Co., Inc.		11,445
	21,137	United Technologies Corp.		908,468
	1,428	W.W. Grainger, Inc.		100,217

				10,838,646

Commercial & Professional Services — 0.7%
	2,400	Avery Dennison Corp.		53,616
	2,800	Cintas Corp.		69,216
	2,750	Equifax, Inc.		67,237
	4,200	Iron Mountain, Inc.^*		93,114
	3,000	Monster Worldwide, Inc.^*		24,450
	4,500	Pitney Bowes, Inc.		105,075
	4,200	R.R. Donnelley & Sons Co.		30,786
	7,410	Republic Services, Inc.		127,082
	3,600	Robert Half International, Inc.		64,188
	2,000	Stericycle, Inc.^*		95,460
	1,200	The Dun & Bradstreet Corp.		92,400
	10,949	Waste Management, Inc.		280,294

				1,102,918

Consumer Durables & Apparel — 0.9%
	1,382	Black & Decker Corp.		43,616
	3,100	Centex Corp.		23,250
	7,400	Coach, Inc.^*		123,580
	5,800	D.R. Horton, Inc.		56,260
	6,500	Eastman Kodak Co.		24,700
	3,200	Fortune Brands, Inc.		78,560
	1,600	Harman International Industries, Inc.		21,648
	2,921	Hasbro, Inc.		73,229
	1,900	KB HOME		25,042
	3,700	Leggett & Platt, Inc.		48,063
	3,100	Lennar Corp. Class A		23,281
	7,951	Mattel, Inc.		91,675
	6,433	Newell Rubbermaid, Inc.		41,043
	8,659	NIKE, Inc. Class B		406,021
	1,200	Polo Ralph Lauren Corp.		50,700
	4,900	Pulte Homes, Inc.		53,557
	1,403	Snap-On, Inc.		35,215
	1,800	The Stanley Works		52,416
	1,900	VF Corp.		108,509
	1,659	Whirlpool Corp.		49,090

				1,429,455

Consumer Services — 1.7%
	2,400	Apollo Group, Inc. Class A^*		187,992
	10,000	Carnival Corp.		216,000
	3,000	Darden Restaurants, Inc.		102,780
	7,500	H&R Block, Inc.		136,425
	6,500	International Game Technology		59,930
	6,800	Marriott International, Inc. Class A		111,248
	25,133	McDonald’s Corp.		1,371,508
	16,256	Starbucks Corp.^*		180,604
	4,400	Starwood Hotels & Resorts Worldwide, Inc.		55,880

GOLDMAN SACHS VARIABLE INSURANCE TRUST EQUITY INDEX FUND

Schedule of Investments (continued)

March 31, 2009 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Consumer Services — (continued)
	4,526	Wyndham Worldwide Corp.	$	19,009
	1,300	Wynn Resorts Ltd.^*		25,961
	10,297	Yum! Brands, Inc.		282,962

				2,750,299

Diversified Financials — 5.7%
	25,969	American Express Co.		353,957
	4,680	Ameriprise Financial, Inc.		95,893
	143,739	Bank of America Corp.		980,300
	8,833	Capital One Financial Corp.		108,116
	10,000	CIT Group, Inc.		28,500
	124,105	Citigroup, Inc.		313,986
	1,518	CME Group, Inc.		374,020
	11,317	Discover Financial Services		71,410
	12,000	E^Trade Financial Corp.^		15,360
	2,000	Federated Investors, Inc. Class B		44,520
	3,330	Franklin Resources, Inc.		179,387
	1,600	Intercontinental Exchange, Inc.^*		119,152
	8,400	Invesco Ltd.		116,424
	3,700	Janus Capital Group, Inc.		24,605
	84,494	JPMorgan Chase & Co.		2,245,851
	3,400	Legg Mason, Inc.		54,060
	3,800	Leucadia National Corp.^*		56,582
	4,300	Moody’s Corp.		98,556
	24,034	Morgan Stanley		547,254
	5,000	Northern Trust Corp.		299,100
	5,800	NYSE Euronext		103,820
	10,571	SLM Corp.^*		52,326
	9,567	State Street Corp.		294,472
	5,900	T. Rowe Price Group, Inc.		170,274
	25,815	The Bank of New York Mellon Corp.		729,274
	21,186	The Charles Schwab Corp.		328,383
	10,432	The Goldman Sachs Group, Inc.^(a)		1,106,001
	3,200	The NASDAQ OMX Group, Inc.^*		62,656

				8,974,239

Energy — 12.9%
	10,418	Anadarko Petroleum Corp.		405,156
	7,516	Apache Corp.		481,700
	6,893	Baker Hughes, Inc.		196,795
	6,400	BJ Services Co.		63,680
	2,400	Cabot Oil & Gas Corp.		56,568
	4,800	Cameron International Corp.^*		105,264
	12,317	Chesapeake Energy Corp.		210,128
	45,084	Chevron Corp.		3,031,448
	33,302	ConocoPhillips		1,304,106
	4,000	Consol Energy, Inc.		100,960
	10,016	Devon Energy Corp.		447,615
	1,600	Diamond Offshore Drilling, Inc.		100,576
	15,830	El Paso Corp.		98,937
	3,300	ENSCO International, Inc.		87,120
	5,593	EOG Resources, Inc.		306,273
	111,235	Exxon Mobil Corp.		7,575,104
	20,144	Halliburton Co.		311,628
	6,400	Hess Corp.		346,880
	15,708	Marathon Oil Corp.		412,963
	2,000	Massey Energy Co.		20,240


Shares		Description	Value
Common Stocks — (continued)
Energy — (continued)
	4,300	Murphy Oil Corp.	$	192,511
	6,400	Nabors Industries Ltd.^*		63,936
	9,418	National-Oilwell Varco, Inc.^*		270,391
	3,900	Noble Energy, Inc.		210,132
	18,200	Occidental Petroleum Corp.		1,012,830
	6,006	Peabody Energy Corp.		150,390
	2,500	Pioneer Natural Resources Co.		41,175
	3,400	Range Resources Corp.		139,944
	2,700	Rowan Companies, Inc.		32,319
	26,933	Schlumberger Ltd.		1,094,018
	4,800	Smith International, Inc.		103,104
	7,800	Southwestern Energy Co.^*		231,582
	14,533	Spectra Energy Corp.		205,497
	2,600	Sunoco, Inc.		68,848
	3,000	Tesoro Corp.		40,410
	12,783	The Williams Companies, Inc.		145,471
	11,513	Valero Energy Corp.		206,083
	13,100	XTO Energy, Inc.		401,122

				20,272,904

Food & Staples Retailing — 3.5%
	9,787	Costco Wholesale Corp.		453,334
	32,881	CVS/Caremark Corp.		903,899
	9,800	Safeway, Inc.		197,862
	4,873	SUPERVALU, Inc.		69,586
	13,400	Sysco Corp.		305,520
	14,732	The Kroger Co.		312,613
	22,400	Walgreen Co.		581,504
	50,309	Wal-Mart Stores, Inc.		2,621,099
	3,000	Whole Foods Market, Inc.		50,400

				5,495,817

Food, Beverage & Tobacco — 6.3%
	46,380	Altria Group, Inc.		743,008
	14,549	Archer-Daniels-Midland Co.		404,171
	2,250	Brown-Forman Corp. Class B		87,367
	4,600	Campbell Soup Co.		125,856
	6,900	Coca-Cola Enterprises, Inc.		91,011
	10,100	ConAgra Foods, Inc.		170,387
	4,200	Constellation Brands, Inc. Class A^*		49,980
	3,300	Dean Foods Co.^*		59,664
	5,600	Dr. Pepper Snapple Group, Inc.^*		94,696
	7,300	General Mills, Inc.		364,124
	7,000	H.J. Heinz Co.		231,420
	1,600	Hormel Foods Corp.		50,736
	5,700	Kellogg Co.		208,791
	32,957	Kraft Foods, Inc. Class A		734,612
	3,847	Lorillard, Inc.		237,514
	2,900	McCormick & Co., Inc.		85,753
	3,400	Molson Coors Brewing Co. Class B		116,552
	3,025	Pepsi Bottling Group, Inc.		66,973
	35,075	PepsiCo, Inc.		1,805,661
	45,081	Philip Morris International, Inc.		1,603,982
	3,745	Reynolds American, Inc.		134,221
	15,900	Sara Lee Corp.		128,472
	44,884	The Coca-Cola Co.		1,972,652
	3,800	The Hershey Co.		132,050

GOLDMAN SACHS VARIABLE INSURANCE TRUST EQUITY INDEX FUND

Schedule of Investments (continued)

March 31, 2009 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Food, Beverage & Tobacco — (continued)
	2,634	The J.M. Smucker Co.	$	98,169
	6,900	Tyson Foods, Inc. Class A		64,791

				9,862,613

Health Care Equipment & Services — 4.4%
	10,289	Aetna, Inc.		250,331
	3,430	AmerisourceBergen Corp.		112,024
	13,800	Baxter International, Inc.		706,836
	5,400	Becton, Dickinson and Co.		363,096
	34,106	Boston Scientific Corp.^*		271,143
	2,267	C.R. Bard, Inc.		180,725
	8,132	Cardinal Health, Inc.		255,995
	6,419	CIGNA Corp.		112,910
	3,600	Coventry Health Care, Inc.^*		46,584
	11,384	Covidien Ltd.		378,404
	2,400	DaVita, Inc.^*		105,480
	3,500	DENTSPLY International, Inc.		93,975
	5,546	Express Scripts, Inc.^*		256,059
	3,590	Hospira, Inc.^*		110,787
	3,900	Humana, Inc.^*		101,712
	3,954	IMS Health, Inc.		49,306
	890	Intuitive Surgical, Inc.^*		84,870
	2,400	Laboratory Corp. of America Holdings^*		140,376
	6,164	McKesson Corp.		215,987
	10,937	Medco Health Solutions, Inc.^*		452,136
	25,158	Medtronic, Inc.		741,406
	2,081	Patterson Companies, Inc.^*		39,248
	3,400	Quest Diagnostics, Inc.		161,432
	7,793	St. Jude Medical, Inc.^*		283,120
	5,500	Stryker Corp.		187,220
	11,050	Tenet Healthcare Corp.^*		12,818
	27,462	UnitedHealth Group, Inc.		574,780
	2,900	Varian Medical Systems, Inc.^*		88,276
	11,160	WellPoint, Inc.^*		423,745
	5,017	Zimmer Holdings, Inc.^*		183,121

				6,983,902

Household & Personal Products — 2.9%
	9,600	Avon Products, Inc.		184,608
	11,386	Colgate-Palmolive Co.		671,546
	9,340	Kimberly-Clark Corp.		430,667
	3,200	The Clorox Co.		164,736
	2,600	The Estee Lauder Companies, Inc. Class A		64,090
	65,909	The Procter & Gamble Co.		3,103,655

				4,619,302

Insurance — 2.1%
	10,292	Aflac, Inc.		199,253
	62,623	American International Group, Inc.		62,623
	6,050	Aon Corp.		246,961
	2,800	Assurant, Inc.		60,984
	3,468	Cincinnati Financial Corp.		79,313
	11,000	Genworth Financial, Inc. Class A		20,900
	7,273	Hartford Financial Services Group, Inc.		57,093
	6,158	Lincoln National Corp.		41,197
	8,147	Loews Corp.		180,049
	11,588	Marsh & McLennan Companies, Inc.		234,657


Shares		Description	Value
Common Stocks — (continued)
Insurance — (continued)
	4,450	MBIA, Inc.^*	$	20,381
	18,481	MetLife, Inc.		420,812
	6,132	Principal Financial Group, Inc.		50,160
	9,748	Prudential Financial, Inc.		185,407
	12,138	The Allstate Corp.		232,443
	8,008	The Chubb Corp.		338,899
	15,300	The Progressive Corp.^*		205,632
	13,199	The Travelers Companies, Inc.		536,407
	2,041	Torchmark Corp.		53,535
	7,518	Unum Corp.		93,975
	7,600	XL Capital Ltd. Class A		41,496

				3,362,177

Materials — 3.3%
	4,700	Air Products & Chemicals, Inc.		264,375
	2,800	AK Steel Holding Corp.		19,936
	21,468	Alcoa, Inc.		157,575
	2,151	Allegheny Technologies, Inc.		47,171
	2,200	Ball Corp.		95,480
	2,300	Bemis Co., Inc.		48,231
	1,090	CF Industries Holdings, Inc.		77,532
	20,438	E.I. du Pont de Nemours & Co.		456,380
	1,600	Eastman Chemical Co.		42,880
	3,812	Ecolab, Inc.		132,391
	9,360	Freeport-McMoRan Copper & Gold, Inc.		356,710
	1,900	International Flavors & Fragrances, Inc.		57,874
	9,959	International Paper Co.		70,111
	4,098	MeadWestvaco Corp.		49,135
	12,354	Monsanto Co.		1,026,617
	10,988	Newmont Mining Corp.		491,823
	7,000	Nucor Corp.		267,190
	3,900	Owens-Illinois, Inc.^*		56,316
	3,100	Pactiv Corp.^*		45,229
	3,800	PPG Industries, Inc.		140,220
	7,000	Praxair, Inc.		471,030
	2,790	Rohm & Haas Co.		219,964
	3,616	Sealed Air Corp.		49,901
	2,700	Sigma-Aldrich Corp.		102,033
	20,413	The Dow Chemical Co.		172,082
	1,500	Titanium Metals Corp.		8,205
	2,820	United States Steel Corp.		59,587
	2,400	Vulcan Materials Co.		106,296
	4,592	Weyerhaeuser Co.		126,601

				5,218,875

Media — 2.4%
	15,964	CBS Corp. Class B		61,302
	64,815	Comcast Corp. Class A		884,077
	5,071	Gannett Co., Inc.		11,156
	900	Meredith Corp.		14,976
	51,686	News Corp. Class A		342,161
	7,048	Omnicom Group, Inc.		164,923
	2,200	Scripps Networks Interactive, Inc. Class A		49,522
	11,800	The DIRECTV Group, Inc.^*		268,922

GOLDMAN SACHS VARIABLE INSURANCE TRUST EQUITY INDEX FUND

Schedule of Investments (continued)

March 31, 2009 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Media — (continued)
	10,271	The Interpublic Group of Companies, Inc.^*	$	42,316
	7,108	The McGraw-Hill Companies, Inc.		162,560
	2,200	The New York Times Co. Class A		9,944
	41,529	The Walt Disney Co.		754,167
	133	The Washington Post Co. Class B		47,494
	7,899	Time Warner Cable, Inc.		195,903
	26,799	Time Warner, Inc.		517,227
	13,444	Viacom, Inc. Class B^*		233,657

				3,760,307

Pharmaceuticals, Biotechnology & Life Sciences — 10.7%
	34,900	Abbott Laboratories		1,664,730
	6,900	Allergan, Inc.		329,544
	23,358	Amgen, Inc.^*		1,156,688
	6,715	Biogen Idec, Inc.^*		352,000
	44,638	Bristol-Myers Squibb Co.		978,465
	10,400	Celgene Corp.^*		461,760
	1,600	Cephalon, Inc.^*		108,960
	22,842	Eli Lilly & Co.		763,151
	6,700	Forest Laboratories, Inc.^*		147,132
	6,100	Genzyme Corp.^*		362,279
	20,500	Gilead Sciences, Inc.^*		949,560
	62,382	Johnson & Johnson		3,281,293
	5,666	King Pharmaceuticals, Inc.^*		40,059
	3,870	Life Technologies Corp.^*		125,698
	47,629	Merck & Co., Inc.		1,274,076
	1,300	Millipore Corp.^*		74,633
	6,800	Mylan, Inc.^*		91,188
	2,800	PerkinElmer, Inc.		35,756
	152,108	Pfizer, Inc.		2,071,711
	36,646	Schering-Plough Corp.		863,013
	9,368	Thermo Fisher Scientific, Inc.^*		334,156
	2,200	Waters Corp.^*		81,290
	2,400	Watson Pharmaceuticals, Inc.^*		74,664
	30,046	Wyeth		1,293,180

				16,914,986

Real Estate — 0.8%
	2,980	Apartment Investment & Management Co. Class A (REIT)		16,330
	1,691	AvalonBay Communities, Inc. (REIT)		79,578
	2,627	Boston Properties, Inc. (REIT)		92,024
	4,300	CB Richard Ellis Group, Inc. Class A^*		17,329
	6,300	Equity Residential (REIT)		115,605
	5,600	HCP, Inc. (REIT)		99,960
	2,400	Health Care REIT, Inc. (REIT)		73,416
	12,357	Host Hotels & Resorts, Inc. (REIT)		48,439
	5,400	Kimco Realty Corp. (REIT)		41,148
	3,800	Plum Creek Timber Co., Inc. (REIT)		110,466
	6,400	ProLogis (REIT)		41,600
	2,751	Public Storage, Inc. (REIT)		151,993
	5,350	Simon Property Group, Inc. (REIT)		185,324
	3,200	Ventas, Inc. (REIT)		72,352
	3,095	Vornado Realty Trust (REIT)		102,871

				1,248,435


Shares		Description	Value
Common Stocks — (continued)
Retailing — 3.4%
	1,777	Abercrombie & Fitch Co. Class A	$	42,293
	7,268	Amazon.com, Inc.^*		533,762
	2,172	AutoNation, Inc.^*		30,147
	879	AutoZone, Inc.^*		142,943
	5,872	Bed Bath & Beyond, Inc.^*		145,332
	7,550	Best Buy Co., Inc.		286,598
	1,700	Big Lots, Inc.^*		35,326
	5,200	Expedia, Inc.^*		47,216
	3,100	Family Dollar Stores, Inc.		103,447
	3,800	GameStop Corp. Class A^*		106,476
	3,698	Genuine Parts Co.		110,422
	4,900	J.C. Penney Co., Inc.		98,343
	6,819	Kohl’s Corp.^*		288,580
	5,700	Limited Brands, Inc.		49,590
	33,200	Lowe’s Companies, Inc.		605,900
	9,534	Macy’s, Inc.		84,853
	3,724	Nordstrom, Inc.		62,377
	6,600	Office Depot, Inc.^*		8,646
	3,000	O’Reilly Automotive, Inc.^*		105,030
	2,900	RadioShack Corp.		24,853
	1,300	Sears Holdings Corp.^*		59,423
	16,097	Staples, Inc.		291,517
	17,000	Target Corp.		584,630
	10,250	The Gap, Inc.		133,147
	37,994	The Home Depot, Inc.		895,139
	2,300	The Sherwin-Williams Co.		119,531
	9,393	The TJX Companies, Inc.		240,836
	2,900	Tiffany & Co.		62,524

				5,298,881

Semiconductors & Semiconductor Equipment — 2.5%
	13,600	Advanced Micro Devices, Inc.^*		41,480
	6,574	Altera Corp.		115,374
	6,500	Analog Devices, Inc.		125,255
	30,000	Applied Materials, Inc.		322,500
	9,450	Broadcom Corp. Class A^*		188,811
	125,649	Intel Corp.		1,891,017
	3,725	KLA-Tencor Corp.		74,500
	5,000	Linear Technology Corp.		114,900
	15,400	LSI Corp.^*		46,816
	4,800	MEMC Electronic Materials, Inc.^*		79,152
	4,000	Microchip Technology, Inc.		84,760
	16,943	Micron Technology, Inc.^*		68,788
	4,400	National Semiconductor Corp.		45,188
	2,265	Novellus Systems, Inc.^*		37,667
	11,950	NVIDIA Corp.^*		117,827
	3,400	Teradyne, Inc.^*		14,892
	28,658	Texas Instruments, Inc.		473,144
	6,300	Xilinx, Inc.		120,708

				3,962,779

Software & Services — 6.9%
	12,015	Adobe Systems, Inc.^*		257,001
	2,100	Affiliated Computer Services, Inc. Class A^*		100,569
	3,700	Akamai Technologies, Inc.^*		71,780
	4,900	Autodesk, Inc.^*		82,369

GOLDMAN SACHS VARIABLE INSURANCE TRUST EQUITY INDEX FUND

Schedule of Investments (continued)

March 31, 2009 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Software & Services — (continued)
	11,500	Automatic Data Processing, Inc.	$	404,340
	4,100	BMC Software, Inc.^*		135,300
	8,704	CA, Inc.		153,277
	4,100	Citrix Systems, Inc.^*		92,824
	6,435	Cognizant Technology Solutions Corp. Class A^*		133,784
	3,400	Computer Sciences Corp.^*		125,256
	6,000	Compuware Corp.^*		39,540
	2,900	Convergys Corp.^*		23,432
	24,144	eBay, Inc.^*		303,249
	7,100	Electronic Arts, Inc.^*		129,149
	4,300	Fidelity National Information Services, Inc.		78,260
	3,550	Fiserv, Inc.^*		129,433
	5,417	Google, Inc. Class A^*		1,885,441
	7,200	Intuit, Inc.^*		194,400
	1,600	Mastercard, Inc. Class A		267,968
	3,500	McAfee, Inc.^*		117,250
	172,503	Microsoft Corp.		3,168,880
	7,400	Novell, Inc.^*		31,524
	86,637	Oracle Corp.^*		1,565,530
	7,231	Paychex, Inc.		185,620
	2,300	Salesforce.com, Inc.^*		75,279
	18,712	Symantec Corp.^*		279,557
	4,500	Total System Services, Inc.		62,145
	4,402	VeriSign, Inc.^*		83,066
	16,119	Western Union Co.		202,616
	31,400	Yahoo!, Inc.^*		402,234

				10,781,073

Technology Hardware & Equipment — 8.5%
	7,896	Agilent Technologies, Inc.^*		121,362
	3,900	Amphenol Corp. Class A		111,111
	20,058	Apple, Inc.^*		2,108,497
	2,385	Ciena Corp.^*		18,555
	131,267	Cisco Systems, Inc.^*		2,201,348
	35,125	Corning, Inc.		466,109
	39,200	Dell, Inc.^*		371,616
	45,072	EMC Corp.^*		513,821
	3,200	FLIR Systems, Inc.^*		65,536
	3,000	Harris Corp.		86,820
	54,141	Hewlett-Packard Co.		1,735,760
	30,209	International Business Machines Corp.		2,926,950
	5,000	Jabil Circuit, Inc.		27,800
	4,625	JDS Uniphase Corp.^*		15,031
	12,000	Juniper Networks, Inc.^*		180,720
	1,600	Lexmark International, Inc. Class A^*		26,992
	3,225	Molex, Inc.		44,312
	50,735	Motorola, Inc.		214,609
	7,211	NetApp, Inc.^*		107,011
	2,300	QLogic Corp.^*		25,576
	37,120	QUALCOMM, Inc.		1,444,339
	4,800	SanDisk Corp.^*		60,720
	17,214	Sun Microsystems, Inc.^*		126,006
	9,600	Tellabs, Inc.^*		43,968
	3,900	Teradata Corp.^*		63,258
	10,298	Tyco Electronics Ltd.		113,690


Shares		Description	Value
Common Stocks — (continued)
Technology Hardware & Equipment — (continued)
	18,900	Xerox Corp.	$	85,995

				13,307,512

Telecommunication Services — 3.9%
	8,800	American Tower Corp. Class A^*		267,784
	132,868	AT&T, Inc.		3,348,274
	2,400	CenturyTel, Inc.		67,488
	3,240	Embarq Corp.		122,634
	7,300	Frontier Communications Corp.		52,414
	32,563	Qwest Communications International, Inc.		111,365
	65,010	Sprint Nextel Corp.^*		232,086
	63,870	Verizon Communications, Inc.		1,928,874
	9,981	Windstream Corp.		80,447

				6,211,366

Transportation — 2.0%
	6,322	Burlington Northern Santa Fe Corp.		380,268
	3,800	C.H. Robinson Worldwide, Inc.		173,318
	8,862	CSX Corp.		229,083
	4,800	Expeditors International of Washington, Inc.		135,792
	7,100	FedEx Corp.		315,879
	8,235	Norfolk Southern Corp.		277,931
	1,300	Ryder System, Inc.		36,803
	16,218	Southwest Airlines Co.		102,660
	11,320	Union Pacific Corp.		465,365
	22,411	United Parcel Service, Inc. Class B		1,103,070

				3,220,169

Utilities — 4.3%
	14,700	AES Corp.^*		85,407
	3,900	Allegheny Energy, Inc.		90,363
	4,677	Ameren Corp.		108,460
	9,191	American Electric Power Co., Inc.		232,165
	7,998	CenterPoint Energy, Inc.		83,419
	5,400	CMS Energy Corp.		63,936
	6,100	Consolidated Edison, Inc.		241,621
	4,350	Constellation Energy Group, Inc.		89,871
	13,147	Dominion Resources, Inc.		407,425
	3,600	DTE Energy Co.		99,720
	28,942	Duke Energy Corp.		414,449
	11,397	Dynegy, Inc. Class A^*		16,070
	7,369	Edison International		212,301
	4,248	Entergy Corp.		289,246
	3,000	EQT Corp.		93,990
	14,881	Exelon Corp.		675,449
	6,934	FirstEnergy Corp.		267,652
	9,146	FPL Group, Inc.		463,977
	1,731	Integrys Energy Group, Inc.		45,075
	1,000	Nicor, Inc.		33,230
	5,900	NiSource, Inc.		57,820
	3,890	Northeast Utilities		83,985
	4,900	Pepco Holdings, Inc.		61,152
	8,231	PG&E Corp.		314,589
	2,300	Pinnacle West Capital Corp.		61,088
	8,351	PPL Corp.		239,757
	6,177	Progress Energy, Inc.		223,978

GOLDMAN SACHS VARIABLE INSURANCE TRUST EQUITY INDEX FUND

Schedule of Investments (continued)

March 31, 2009 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Utilities — (continued)
	11,342	Public Service Enterprise Group, Inc.	$	334,249
	3,800	Questar Corp.		111,834
	2,700	SCANA Corp.		83,403
	5,513	Sempra Energy		254,921
	17,567	Southern Co.		537,902
	4,500	TECO Energy, Inc.		50,175
	2,700	Wisconsin Energy Corp.		111,159
	10,210	Xcel Energy, Inc.		190,212

				6,730,050

TOTAL COMMON STOCKS			$	156,044,279


Principal	Interest			Maturity
Amount	Rate			Date		Value
U.S. Government Obligation — 0.2%
United States Treasury Bill^(b)^(c)
$255,000		0.000	%		06/11/09	$254,909


Shares	Rate			Value
Investment Company^(d) — 0.5%
JPMorgan U.S. Government Money Market Fund — Capital Shares
820,144	0.482	%	$	820,144

TOTAL INVESTMENTS — 99.8%			$	157,119,332

OTHER ASSETS IN EXCESS OF LIABILITIES — 0.2%				246,030

NET ASSETS — 100.0%			$	157,365,362

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) Represents an affiliated issuer.

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

(d) Variable rate security. Interest rate disclosed is that which is in effect at March 31, 2009.



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 GOVERNMENT INCOME FUND

Schedule of Investments

March 31, 2009 (Unaudited)


Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — 68.7%
Adjustable Rate FHLMC^(a) — 1.7%
$	720,073		4.846	%	09/01/35	$	738,601
	694,955		4.733		10/01/35		718,335

							1,456,936

Adjustable Rate FNMA^(a) — 1.9%
	277,084		3.815		05/01/33		278,241
	660,592		3.966		05/01/35		663,143
	604,083		5.087		12/01/35		623,234

							1,564,618

Adjustable Rate Non-Agency^(a) — 5.4%
First Horizon Alternative Mortgage Securities Series 2005-AA7, Class 2A1
	545,123		5.402		09/25/35		277,590
GSR Mortgage Loan Trust Series 2005-AR6, Class 3A1
	659,741		4.559		09/25/35		438,273
Harborview Mortgage Loan Trust Series 2006-6, Class 3A1A
	562,063		5.970		08/19/36		257,934
Indymac Index Mortgage Loan Trust Series 2006-AR2, Class 1A1A
	542,275		0.742		04/25/46		199,147
J.P. Morgan Mortgage Trust Series 2007-A1, Class 2A2
	702,892		4.737		07/25/35		505,809
Lehman XS Trust Series 2007-4N, Class 3A2A
	847,187		2.383		03/25/47		317,823
Luminent Mortgage Trust Series 2006-2, Class A1A
	552,886		0.722		02/25/46		199,345
Merrill Lynch Mortgage Investors, Inc. Series 2005-A9, Class 2A1C
	1,000,000		5.148		12/25/35		522,614
Residential Accredit Loans, Inc. Series 2005-QO5, Class A1
	531,188		2.633		01/25/46		216,531
Residential Accredit Loans, Inc. Series 2007-QH9, Class A1
	952,550		6.546		11/25/37		250,937
Structured Asset Mortgage Investments, Inc. Series 2007-AR6, Class A1
	851,439		3.133		08/25/47		316,747
Washington Mutual Mortgage Pass-Through Certificates Series 2005-AR10, Class 1A3
	1,000,000		4.831		09/25/35		472,256
Washington Mutual Mortgage Pass-Through Certificates Series 2006-AR11, Class 3A1A
	710,917		2.553		09/25/46		227,561
Wells Fargo Mortgage Backed Securities Trust Series 2006-AR10, Class 5A3
	625,383		5.607		07/25/36		339,885

							4,542,452

Collateralized Mortgage Obligations — 5.7%
Interest Only^(a)(b) — 0.0%
FNMA Series 2004-47, Class EI
	384,108		0.000		06/25/34		2,241
FNMA Series 2004-62, Class DI
	178,823		0.000		07/25/33		1,013

							3,254


Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
Planned Amortization Class — 4.7%
FHLMC Series 2719, Class GC
$	3,906,786		5.000	%	06/15/26	$	3,977,088

Regular Floater^(a) — 1.0%
FHLMC Series 3325, Class SX^(c)
	79,855		0.000		06/15/37		78,137
FNMA Series 2007-53, Class FB
	745,009		0.922		06/25/37		720,581
FNMA Series 2007-53, Class UF^(c)
	73,427		0.000		06/25/37		69,184

							867,902

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS						$	4,848,244

Commercial Mortgage-Backed Securities — 1.9%
Adjustable Rate Non-Agency^(a) — 1.4%
Bear Stearns Commercial Mortgage Securities Series 2006-PW12, Class A4
	500,000		5.718		09/11/38		424,923
Citigroup/Deutsche Bank Commercial Mortgage Trust Series 2005-CD1, Class A4
	1,000,000		5.226		07/15/44		803,495

							1,228,418

Sequential Fixed Rate — 0.5%
Banc of America Funding Corp. Series 2007-8, Class 2A1
	690,693		7.000		10/25/37		386,318

TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES						$	1,614,736

Federal Agencies — 52.1%
FHLMC — 13.7%
	1,319,453		4.500		12/01/18		1,367,302
	1,119,849		4.500		06/01/19		1,160,459
	6,927		10.000		03/01/21		7,686
	13,541		6.500		06/01/23		14,283
	928,838		6.500		10/01/34		990,200
	1,909,572		5.000		05/01/35		1,972,189
	33,718		5.000		11/01/35		34,824
	301,599		5.000		03/01/36		311,489
	279,615		5.000		04/01/36		288,784
	149,217		5.000		06/01/36		154,111
	25,009		6.000		11/01/36		26,141
	167,901		6.000		10/01/37		175,531
	119,785		6.000		11/01/37		125,228
	868,518		5.500		02/01/38		901,128
	961,418		6.000		03/01/38		1,001,274
	56,755		5.500		04/01/38		59,162
	26,673		6.000		04/01/38		27,885
	777,069		5.500		05/01/38		810,034
	899,110		5.500		06/01/38		932,849
	144,007		5.500		08/01/38		150,116
	557,041		6.000		08/01/38		582,355
	22,947		6.000		09/01/38		23,982
	354,479		6.000		11/01/38		370,588

GOLDMAN SACHS VARIABLE INSURANCE TRUST GOVERNMENT INCOME FUND

Schedule of Investments (continued)

March 31, 2009 (Unaudited)


Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
FHLMC — (continued)
$	26,164		6.000	%	02/01/39	$	27,383

							11,514,983

FNMA — 35.3%
$	4,343		5.000	%	02/01/14	$	4,464
	57,690		5.000		11/01/17		60,261
	315,971		5.000		12/01/17		330,052
	227,536		5.000		01/01/18		237,676
	94,509		5.000		02/01/18		98,738
	241,029		5.000		03/01/18		251,813
	939,742		5.000		04/01/18		981,787
	368,110		5.000		05/01/18		384,581
	749,504		5.000		06/01/18		783,038
	20,069		5.000		07/01/18		20,967
	1,318,670		4.000		09/01/18		1,351,330
	503,587		5.000		11/01/18		526,119
	605,516		5.000		12/01/18		632,608
	47,414		5.000		01/01/19		49,535
	131,799		5.000		02/01/19		137,458
	518,328		5.000		03/01/19		540,584
	972,897		5.500		03/01/19		1,022,796
	1,091,051		5.000		04/01/19		1,139,071
	588,915		5.000		06/01/19		615,265
	366,865		6.000		09/01/19		386,422
	543,085		5.000		12/01/19		566,573
	460,032		6.000		12/01/20		484,766
	17,730		8.000		09/01/21		19,273
	29,885		5.000		04/01/23		30,991
	873,769		4.500		06/01/23		900,937
	114,113		5.000		06/01/23		118,337
	80		6.000		03/01/32		84
	221,261		5.500		03/01/33		230,472
	213,155		5.500		04/01/33		222,028
	180,122		5.500		05/01/33		187,620
	10,109		6.000		05/01/33		10,655
	27,538		5.500		06/01/33		28,684
	350,121		5.500		07/01/33		364,695
	3,675		6.000		12/01/33		3,874
	301,411		5.500		01/01/34		313,958
	160,175		5.500		06/01/34		166,843
	3,911,167		5.000		07/01/34		4,042,358
	2,513		6.000		12/01/34		2,641
	5,916		6.000		04/01/35		6,218
	8,796		7.000		05/01/35		9,383
	1,328,189		5.000		06/01/35		1,371,874
	33,630		6.000		07/01/35		35,350
	75,370		6.000		11/01/35		79,036
	581,212		5.000		01/01/36		600,249
	98,347		6.000		01/01/36		103,376
	9,015		6.000		02/01/36		9,453
	32,514		6.500		03/01/36		34,255
	61,973		6.000		09/01/36		64,816
	255,147		6.000		10/01/36		267,576
	370,106		6.000		11/01/36		387,370
	87,249		6.000		01/01/37		91,496
	80,992		5.500		04/01/37		84,428
	57,935		6.000		04/01/37		60,608


Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
FNMA — (continued)
$	215,262		5.500	%	05/01/37	$	224,404
	124,070		6.000		05/01/37		130,089
	127,471		7.000		05/01/37		135,899
	898,619		6.000		06/01/37		939,035
	84,024		7.000		06/01/37		89,579
	397,600		5.500		07/01/37		413,038
	62,774		6.000		07/01/37		65,670
	320,854		6.000		08/01/37		336,381
	333,301		6.000		09/01/37		349,258
	31,723		6.000		10/01/37		33,183
	86,439		7.000		10/01/37		92,154
	52,042		6.000		11/01/37		54,390
	127,334		7.000		11/01/37		135,752
	1,196		6.000		12/01/37		1,251
	42,323		6.500		12/01/37		44,592
	270,363		7.000		12/01/37		288,236
	22,045		6.000		01/01/38		23,062
	33,249		6.500		01/01/38		35,062
	69,470		5.500		02/01/38		72,732
	133,574		6.000		02/01/38		139,678
	371,910		5.000		03/01/38		384,956
	524,024		5.500		03/01/38		543,920
	969,057		6.000		03/01/38		1,012,721
	184,216		5.500		04/01/38		192,503
	7,179		6.000		04/01/38		7,510
	200,152		5.500		05/01/38		209,613
	465,010		6.000		05/01/38		486,251
	615,193		5.500		06/01/38		643,552
	29,617		6.000		06/01/38		30,983
	148,638		5.500		07/01/38		155,663
	41,045		6.000		07/01/38		42,938
	247,144		5.500		08/01/38		257,955
	568,406		6.000		08/01/38		596,423
	119,221		5.500		09/01/38		124,857
	491,884		6.000		10/01/38		516,268
	351,246		6.000		11/01/38		368,657
	48,863		6.000		12/01/38		51,117
	50,758		6.000		01/01/39		53,046

							29,737,220

GNMA — 3.1%
	71		6.500		06/15/09		71
	590,495		6.000		12/15/38		618,636
	2,000,000		4.500		TBA-30yr^(d)		2,031,250

							2,649,957

TOTAL FEDERAL AGENCIES						$	43,902,160

TOTAL MORTGAGE-BACKED OBLIGATIONS						$	57,929,146


Agency Debentures — 18.6%
FFCB
$	500,000		5.400	%	06/08/17	$	559,953

GOLDMAN SACHS VARIABLE INSURANCE TRUST GOVERNMENT INCOME FUND

Schedule of Investments (continued)

March 31, 2009 (Unaudited)


Principal		Interest			Maturity
Amount		Rate			Date	Value
Agency Debentures — (continued)
FHLMC
$	3,400,000		2.050	%	03/09/11	$	3,412,478
	800,000		2.000		03/16/11		803,486
	1,500,000		5.125		11/17/17		1,679,991
FNMA
	1,700,000		1.750		03/23/11		1,710,375
	1,500,000		2.050		04/01/11		1,505,189
	1,000,000		5.000		05/11/17		1,108,554
	1,200,000		4.600		06/05/18		1,257,707
JPMorgan Chase & Co.^(h)
	1,100,000		1.650		02/23/11		1,105,624
PNC Funding Corp.^(h)
	1,750,000		2.300		06/22/12		1,766,853
Tennessee Valley Authority^(e)
	700,000		5.375		04/01/56		747,406

TOTAL AGENCY DEBENTURES						$	15,657,616


Asset-Backed Securities — 1.4%
Home Equity — 1.4%
Chase Issuance Trust Series 2005-A11, Class A^(a)
$	700,000		0.626	%	12/15/14	$	619,051
CIT Mortgage Loan Trust Series 2007-1, Class 2A1^(a)(f)
	288,397		1.522		10/25/37		216,298
CIT Mortgage Loan Trust Series 2007-1, Class 2A2^(a)(f)
	130,000		1.772		10/25/37		39,000
CIT Mortgage Loan Trust Series 2007-1, Class 2A3^(a)(f)
	180,000		1.972		10/25/37		49,500
GMAC Mortgage Corp. Loan Trust Series 2007-HE3, Class 1A1
	71,058		7.000		09/25/37		24,751
GMAC Mortgage Corp. Loan Trust Series 2007-HE3, Class 2A1
	76,381		7.000		09/25/37		25,473
HFC Home Equity Loan Asset Backed Certificates Series 2007-3, Class APT^(a)
	345,806		1.745		11/20/36		231,636

TOTAL ASSET-BACKED SECURITIES						$	1,205,709


U.S. Treasury Obligations — 5.6%
U.S. Treasury Bonds
$	200,000		3.500	%	02/15/39	$	197,626
U.S. Treasury Notes
	400,000		0.875		01/31/11		400,876
	200,000		0.875		03/31/11		200,282
	600,000		1.375		02/15/12		604,875
United States Treasury Inflation Indexed Bonds-TIPS
	800,000		0.875		04/15/10		887,166
	300,000		2.000		01/15/16		329,216
	500,000		2.500		07/15/16		558,694
	100,000		2.375		01/15/17		111,178
	500,000		2.375		01/15/27		546,730
	300,000		1.750		01/15/28		289,508
	250,000		3.625		04/15/28		402,344


Principal		Interest			Maturity
Amount		Rate			Date	Value
U.S. Treasury Obligations — (continued)
United States Treasury Principal-Only STRIPS^(g)
$	300,000		0.000	%	08/15/26	$	158,274

TOTAL U.S. TREASURY OBLIGATIONS						$	4,686,769


Shares	Rate			Value
Investment Company^(a) — 7.6%
JPMorgan U.S. Government Money Market Fund — Capital Shares
6,421,392		0.482	%	$	6,421,392

TOTAL INVESTMENTS — 101.9%				$	85,900,632

LIABILITIES IN EXCESS OF OTHER ASSETS — (1.9)%					(1,579,264	)

NET ASSETS — 100.0%				$	84,321,368

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

(a) Variable rate security. Interest rate disclosed is that which is in effect at March 31, 2009.

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

(d) 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 (excluding forward sales contracts, if any) amounts to $2,031,250 which represents approximately 2.4% of net assets as of March 31, 2009.

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

(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 $304,798, which represents approximately 0.4% of net assets as of March 31, 2009.

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

(h) This debt is guaranteed under the Federal Deposit Insurance Corporation’s Temporary Liquidity Guarantee Program and is backed by the full faith and credit of the United States. The expiration date of the FDIC’s guarantee is the earlier of the maturity date of the debt or June 30, 2012. Total market value of these securities amounts to $2,872,477, which represents approximately 3.4% of net assets as of March 31, 2009.

GOLDMAN SACHS VARIABLE INSURANCE TRUST GOVERNMENT INCOME FUND

Schedule of Investments (continued)

March 31, 2009 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FORWARD SALES CONTRACTS — At March 31, 2009, the Fund had the following forward sales contracts:


	Interest			Maturity		Settlement		Principal
Description	Rate			Date		Date		Amount		Value

FHLMC		5.500	%		04/15/39		04/13/09	$	1,000,000	$	1,037,500
FNMA		5.000			04/25/39		04/13/09		1,000,000		1,031,875
FNMA		6.000			TBA-30		04/13/09		1,000,000		1,044,375

TOTAL (Proceeds Receivable: $3,110,156)										$	3,113,750

FUTURES CONTRACTS — At March 31, 2009, the following futures contracts were open:


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

Eurodollars		3		June 2009	$	741,750		$	28,600
U.S. Treasury Bonds		13		June 2009		1,686,141			42,336
2 Year U.S. Treasury Notes		(10	)	June 2009		(2,178,906	)		(7,066	)
5 Year U.S. Treasury Notes		83		June 2009		9,857,547			161,237
10 Year U.S. Treasury Notes		44		June 2009		5,459,437			157,842

TOTAL								$	382,949

TAX INFORMATION — At March 31, 2009, the Fund’s aggregate security unrealized gains and losses based on cost for U.S. Federal income tax purposes were as follows:



Tax Cost	$	90,123,376

Gross unrealized gain		2,422,745
Gross unrealized loss		(6,645,489	)

Net unrealized security loss	$	(4,222,744	)

GOLDMAN SACHS VARIABLE INSURANCE TRUST GROWTH AND INCOME FUND

Schedule of Investments

March 31, 2009 (Unaudited)


Shares		Description	Value
Common Stocks — 91.5%
Automobiles & Components — 0.4%
	141,153	Johnson Controls, Inc.	$	1,693,836

Banks — 1.1%
	423,300	New York Community Bancorp, Inc.^(a)		4,728,261

Capital Goods — 3.9%
	140,100	Emerson Electric Co.		4,004,058
	203,100	Honeywell International, Inc.		5,658,366
	210,900	The Boeing Co.		7,503,822

				17,166,246

Commercial & Professional Services — 1.9%
	321,266	Waste Management, Inc.		8,224,410

Consumer Durables & Apparel — 1.4%
	83,800	Hasbro, Inc.		2,100,866
	89,400	NIKE, Inc. Class B		4,191,966

				6,292,832

Consumer Services — 1.7%
	399,424	H&R Block, Inc.		7,265,523

Diversified Financials — 5.6%
	266,353	AllianceBernstein Holding LP		3,920,716
	524,452	JPMorgan Chase & Co.		13,939,934
	296,800	Morgan Stanley		6,758,136

				24,618,786

Energy — 16.2%
	159,300	Chevron Corp.		10,711,332
	152,143	Devon Energy Corp.		6,799,271
	175,979	EOG Resources, Inc.^(a)		9,636,610
	258,423	Exxon Mobil Corp.		17,598,606
	220,482	Hess Corp.		11,950,125
	200,179	Occidental Petroleum Corp.		11,139,961
	54,000	Transocean Ltd.^*		3,177,360

				71,013,265

Food & Staples Retailing — 1.8%
	150,906	Wal-Mart Stores, Inc.		7,862,203

Food, Beverage & Tobacco — 6.6%
	34,700	Campbell Soup Co.		949,392
	131,637	ConAgra Foods, Inc.		2,220,716
	78,900	General Mills, Inc.		3,935,532
	75,900	Kraft Foods, Inc. Class A		1,691,811
	259,238	Philip Morris International, Inc.		9,223,688
	79,499	The Coca-Cola Co.		3,493,981
	383,670	Unilever NV		7,519,932

				29,035,052

Health Care Equipment & Services — 3.3%
	164,118	Baxter International, Inc.		8,406,124
	89,100	Becton, Dickinson and Co.		5,991,084

				14,397,208

Household & Personal Products — 2.5%
	42,619	The Clorox Co.		2,194,026
	185,500	The Procter & Gamble Co.		8,735,195

				10,929,221

Insurance — 7.5%
	48,400	Aflac, Inc.		937,024
	80,500	Everest Re Group Ltd.		5,699,400
	78,100	Marsh & McLennan Companies, Inc.		1,581,525
	69,287	PartnerRe Ltd.		4,300,644


Shares		Description	Value
Common Stocks — (continued)
Insurance — (continued)
	154,475	The Allstate Corp.	$	2,958,196
	122,100	The Chubb Corp.		5,167,272
	294,328	The Travelers Companies, Inc.		11,961,490

				32,605,551

Materials — 1.0%
	74,600	Air Products & Chemicals, Inc.		4,196,250

Media — 2.7%
	365,900	Comcast Corp. Class A		4,990,876
	68,608	Time Warner Cable, Inc.		1,701,474
	273,229	Time Warner, Inc.		5,273,314

				11,965,664

Pharmaceuticals, Biotechnology & Life Sciences — 11.6%
	196,128	Amgen, Inc.^*		9,712,258
	130,800	Biogen Idec, Inc.^*		6,856,536
	382,534	Johnson & Johnson		20,121,288
	455,077	Pfizer, Inc.		6,198,149
	183,921	Wyeth		7,915,960

				50,804,191

Real Estate Investment Trust — 1.9%
	155,900	Annaly Capital Management, Inc.		2,162,333
	49,700	Federal Realty Investment Trust		2,286,200
	126,200	Health Care REIT, Inc.^(a)		3,860,458

				8,308,991

Retailing — 1.4%
	62,100	Target Corp.		2,135,619
	169,400	The Home Depot, Inc.		3,991,064

				6,126,683

Software & Services — 1.1%
	120,300	Microsoft Corp.		2,209,911
	46,012	Visa, Inc. Class A		2,558,267

				4,768,178

Technology Hardware & Equipment — 2.1%
	280,999	Hewlett-Packard Co.		9,008,828

Telecommunication Services — 6.2%
	640,623	AT&T, Inc.		16,143,700
	93,884	Embarq Corp.		3,553,509
	2,052,649	Sprint Nextel Corp.^*		7,327,957

				27,025,166

Transportation — 0.5%
	64,000	Norfolk Southern Corp.		2,160,000

Utilities — 9.1%
	61,300	Ameren Corp.		1,421,547
	80,813	American Electric Power Co., Inc.		2,041,336
	64,706	Edison International		1,864,180
	218,469	Entergy Corp.		14,875,554
	166,938	FirstEnergy Corp.		6,443,807
	139,329	PG&E Corp.		5,325,154
	272,956	PPL Corp.		7,836,567

				39,808,145

TOTAL COMMON STOCKS			$	400,004,490

GOLDMAN SACHS VARIABLE INSURANCE TRUST GROWTH AND INCOME FUND

Schedule of Investments (continued)

March 31, 2009 (Unaudited)

Interest

Shares

Rate

Value

Preferred Stock^(b) — 1.5%

Diversified Financials — 1.5%

9,721,000

JPMorgan Chase & Co.

7.900%

6,247,103


Shares		Rate		Value
Investment Company^(b) — 6.1%
JPMorgan U.S. Government Money Market Fund — Capital Shares
	26,640,925		0.482%	$	26,640,925

TOTAL INVESTMENTS BEFORE SECURITIES LENDING REINVESTMENT VEHICLE				$	432,892,518


Securities Lending Reinvestment Vehicle^(b) — 1.5%
Boston Global Investment Trust — Enhanced Portfolio
	6,731,344		0.558%	$	6,657,299

TOTAL INVESTMENTS — 100.6%				$	439,549,817

LIABILITIES IN EXCESS OF OTHER ASSETS — (0.6)%					(2,405,537	)

NET ASSETS — 100.0%				$	437,144,280

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, 2009.

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, 2009 (Unaudited)


Shares		Description	Value
Common Stocks — 97.9%
Automobiles & Components — 1.7%
	153,300	Gentex Corp.^(a)	$	1,526,868

Banks — 2.1%
	101,400	People’s United Financial, Inc.		1,822,158

Capital Goods — 5.9%
	21,500	Alliant Techsystems, Inc.^*^(a)		1,440,070
	14,200	Precision Castparts Corp.		850,580
	48,990	Rockwell Automation, Inc.		1,069,942
	17,200	Roper Industries, Inc.		730,140
	17,000	W.W. Grainger, Inc.		1,193,060

				5,283,792

Commercial & Professional Services — 2.4%
	95,400	Iron Mountain, Inc.^*(a)		2,115,018

Consumer Durables & Apparel — 4.4%
	118,200	Coach, Inc.^*		1,973,940
	41,410	Fortune Brands, Inc.		1,016,615
	145,700	Newell Rubbermaid, Inc.		929,566

				3,920,121

Consumer Services — 3.4%
	84,900	Marriott International, Inc. Class A^(a)		1,388,964
	104,800	Pinnacle Entertainment, Inc.^*^(a)		737,792
	71,100	Starwood Hotels & Resorts Worldwide, Inc.		902,970

				3,029,726

Diversified Financials — 4.1%
	6,100	CME Group, Inc.		1,502,979
	10,800	Northern Trust Corp.		646,056
	76,400	Raymond James Financial, Inc.^(a)		1,505,080

				3,654,115

Energy — 10.5%
	87,900	Cameron International Corp.^*		1,927,647
	44,100	Continental Resources, Inc.^*^(a)		935,361
	7,500	Core Laboratories NV^(a)		548,700
	54,600	Dresser-Rand Group, Inc.^*		1,206,660
	19,600	Hess Corp.		1,062,320
	100,500	Rex Energy Corp.^*		288,435
	39,400	Suncor Energy, Inc.		875,074
	127,020	Weatherford International Ltd.^*		1,406,111
	44,700	Whiting Petroleum Corp.^*^(a)		1,155,495

				9,405,803

Food, Beverage & Tobacco — 0.9%
	21,700	Hansen Natural Corp.^*		781,200

Health Care Equipment & Services — 11.6%
	22,705	C.R. Bard, Inc.		1,810,043
	35,900	Henry Schein, Inc.^*		1,436,359
	34,000	Laboratory Corp. of America Holdings^*^(a)		1,988,660
	44,700	NuVasive, Inc.^*^(a)		1,402,686
	58,200	St. Jude Medical, Inc.^*^(a)		2,114,406
	44,500	Zimmer Holdings, Inc.^*		1,624,250

				10,376,404

Household & Personal Products — 4.8%
	61,800	Avon Products, Inc.		1,188,414
	30,600	Chattem, Inc.^*^(a)		1,715,130


Shares		Description	Value
Common Stocks — (continued)
Household & Personal Products — (continued)
	28,200	Energizer Holdings, Inc.^*	$	1,401,258

				4,304,802

Materials — 1.0%
	26,300	Ecolab, Inc.		913,399

Media — 1.4%
	374,900	Entravision Communications Corp. Class A^*		97,474
	114,900	Lamar Advertising Co. Class A^*^(a)		1,120,275

				1,217,749

Pharmaceuticals, Biotechnology & Life Sciences — 6.5%
	111,200	Amylin Pharmaceuticals, Inc.^*^(a)		1,306,600
	59,990	Charles River Laboratories International, Inc.^*		1,632,328
	11,900	Millipore Corp.^*		683,179
	25,500	Shire PLC ADR		916,470
	36,220	Thermo Fisher Scientific, Inc.^*		1,291,967

				5,830,544

Real Estate — 1.1%
	249,700	CB Richard Ellis Group, Inc. Class A^*		1,006,291

Retailing — 9.2%
	29,600	Advance Auto Parts, Inc.		1,215,968
	24,200	Best Buy Co., Inc.		918,632
	62,900	Dick’s Sporting Goods, Inc.^*^(a)		897,583
	23,000	GameStop Corp. Class A^*		644,460
	30,331	Netflix, Inc.^*^(a)		1,301,807
	83,700	PetSmart, Inc.		1,754,352
	7,700	Priceline.com, Inc.^*^(a)		606,606
	54,700	Urban Outfitters, Inc.^*		895,439

				8,234,847

Semiconductors & Semiconductor Equipment — 4.1%
	65,200	FormFactor, Inc.^*		1,174,904
	46,900	Linear Technology Corp.^(a)		1,077,762
	107,900	Tessera Technologies, Inc.^*		1,442,623

				3,695,289

Software & Services — 13.1%
	191,932	Activision Blizzard, Inc.^*		2,007,608
	80,020	Cognizant Technology Solutions Corp. Class A^*		1,663,616
	53,500	Electronic Arts, Inc.^*		973,165
	43,000	Equinix, Inc.^*^(a)		2,414,450
	66,600	Global Payments, Inc.		2,225,106
	8,100	Salesforce.com, Inc.^*^(a)		265,113
	173,300	Western Union Co.		2,178,381

				11,727,439

Technology Hardware & Equipment — 4.5%
	84,420	Amphenol Corp. Class A		2,405,126
	78,200	FLIR Systems, Inc.^*		1,601,536

				4,006,662

Telecommunication Services — 5.2%
	65,300	American Tower Corp. Class A^*		1,987,079
	70,400	Crown Castle International Corp.^*		1,436,864

GOLDMAN SACHS VARIABLE INSURANCE TRUST GROWTH OPPORTUNITIES FUND

Schedule of Investments (continued)

March 31, 2009 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Telecommunication Services — (continued)
	139,400	TW telecom, inc.^*	$	1,219,750

				4,643,693

TOTAL COMMON STOCKS			$	87,495,920


Shares		Rate		Value
Investment Company^(b) — 1.8%
JPMorgan U.S. Government Money Market Fund — Capital Shares
	1,632,573		0.482%	$	1,632,573

TOTAL INVESTMENTS BEFORE SECURITIES LENDING REINVESTMENT VEHICLE				$	89,128,493

Securities Lending Reinvestment Vehicle^(b) — 23.6%
Boston Global Investment Trust — Enhanced Portfolio
	21,279,923		0.558%	$	21,045,844

TOTAL INVESTMENTS — 123.3%				$	110,174,337

LIABILITIES IN EXCESS OF OTHER ASSETS — (23.3)%					(20,853,370	)

NET ASSETS — 100.0%				$	89,320,967

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, 2009.



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 MID CAP VALUE FUND

Schedule of Investments

March 31, 2009 (Unaudited)


Shares		Description	Value
Common Stocks — 97.2%
Automobiles & Components — 0.5%
	300,259	Johnson Controls, Inc.^(a)	$	3,603,108

Banks — 3.9%
	164,015	Commerce Bancshares, Inc.		5,953,745
	66,530	M&T Bank Corp.^(a)		3,009,817
	633,342	New York Community Bancorp, Inc.^(a)		7,074,430
	577,100	People’s United Financial, Inc.		10,370,487
	733,000	Synovus Financial Corp.^(a)		2,382,250

				28,790,729

Capital Goods — 3.0%
	62,799	Alliant Techsystems, Inc.^*^(a)		4,206,277
	214,194	Cooper Industries Ltd. Class A		5,539,057
	83,681	Eaton Corp.		3,084,481
	140,471	Lennox International, Inc.		3,716,863
	102,854	Parker Hannifin Corp.		3,494,979
	101,200	Rockwell Automation, Inc.		2,210,208

				22,251,865

Commercial & Professional Services — 3.1%
	507,321	Iron Mountain, Inc.^*^(a)		11,247,307
	665,461	Republic Services, Inc.		11,412,656

				22,659,963

Consumer Durables & Apparel — 3.4%
	211,406	Fortune Brands, Inc.		5,190,017
	196,100	Hasbro, Inc.		4,916,227
	93,000	M.D.C. Holdings, Inc.^(a)		2,896,020
	123,200	NIKE, Inc. Class B		5,776,848
	14,700	NVR, Inc.^*		6,287,925

				25,067,037

Consumer Services — 2.0%
	802,860	H&R Block, Inc.		14,604,023

Diversified Financials — 5.5%
	198,000	Franklin Resources, Inc.		10,666,260
	668,000	Invesco Ltd.^(a)		9,258,480
	88,226	Lazard Ltd. Class A		2,593,844
	161,777	Northern Trust Corp.		9,677,500
	573,330	SLM Corp.^*^(a)		2,837,984
	301,800	The NASDAQ OMX Group, Inc.^*^(a)		5,909,244

				40,943,312

Energy — 8.7%
	302,300	Cabot Oil & Gas Corp.^(a)		7,125,211
	246,100	Dril-Quip, Inc.^*		7,555,270
	319,728	Newfield Exploration Co.^*^(a)		7,257,825
	200,200	Noble Energy, Inc.		10,786,776
	533,111	Range Resources Corp.^(a)		21,942,849
	196,470	Smith International, Inc.		4,220,176
	446,300	Weatherford International Ltd.^*		4,940,541

				63,828,648

Food & Staples Retailing — 0.5%
	169,800	The Kroger Co.		3,603,156

Food, Beverage & Tobacco — 4.0%
	295,762	Campbell Soup Co.		8,092,048
	212,882	Coca-Cola Enterprises, Inc.		2,807,914
	573,482	ConAgra Foods, Inc.		9,674,641
	114,800	H.J. Heinz Co.		3,795,288
	86,484	Lorillard, Inc.		5,339,522

				29,709,413


Shares		Description	Value
Common Stocks — (continued)
Health Care Equipment & Services — 5.9%
	67,700	Becton, Dickinson and Co.	$	4,552,148
	138,270	Edwards Lifesciences Corp.^*^(a)		8,383,310
	88,737	IMS Health, Inc.		1,106,550
	290,500	Kinetic Concepts, Inc.^*^(a)		6,135,360
	248,246	Laboratory Corp. of America Holdings^*^(a)		14,519,909
	242,200	WellPoint, Inc.^*		9,196,334

				43,893,611

Household & Personal Products — 1.8%
	40,000	Energizer Holdings, Inc.^*		1,987,600
	216,239	The Clorox Co.^(a)		11,131,984

				13,119,584

Insurance — 13.9%
	190,100	Aon Corp.		7,759,882
	123,294	Arch Capital Group Ltd.^*		6,640,615
	143,235	Assurant, Inc.		3,119,658
	162,089	Everest Re Group Ltd.		11,475,901
	238,300	Lincoln National Corp.^(a)		1,594,227
	473,500	Marsh & McLennan Companies, Inc.		9,588,375
	120,911	PartnerRe Ltd.		7,504,946
	149,900	Prudential Financial, Inc.		2,851,098
	110,041	RenaissanceRe Holdings Ltd.		5,440,427
	765,100	The Progressive Corp.^*^(a)		10,282,944
	106,005	Torchmark Corp.^(a)		2,780,511
	401,903	Unum Corp.^(a)		5,023,788
	826,899	W.R. Berkley Corp.		18,646,572
	446,352	Willis Group Holdings Ltd.		9,819,744

				102,528,688

Materials — 4.0%
	133,100	Air Products & Chemicals, Inc.		7,486,875
	108,700	Airgas, Inc.		3,675,147
	269,700	Pactiv Corp.^*		3,934,923
	818,596	Steel Dynamics, Inc.^(a)		7,211,831
	253,800	Terra Industries, Inc.		7,129,242

				29,438,018

Media — 2.2%
	788,600	DISH Network Corp. Class A^*		8,761,346
	429,400	Viacom, Inc. Class B^*^(a)		7,462,972

				16,224,318

Pharmaceuticals, Biotechnology & Life Sciences — 0.9%
	68,600	Biogen Idec, Inc.^*		3,596,012
	234,284	PerkinElmer, Inc.		2,991,807

				6,587,819

Real Estate Investment Trust — 3.9%
	136,318	Alexandria Real Estate Equities, Inc.^(a)		4,961,975
	500,900	Annaly Capital Management, Inc.^(a)		6,947,483
	65,000	Essex Property Trust, Inc.^(a)		3,727,100
	91,400	Federal Realty Investment Trust		4,204,400
	295,000	Health Care REIT, Inc.^(a)		9,024,050

				28,865,008

Retailing — 4.3%
	46,062	AutoZone, Inc.^*^(a)		7,490,603
	88,501	J.C. Penney Co., Inc.		1,776,215

GOLDMAN SACHS VARIABLE INSURANCE TRUST MID CAP VALUE FUND

Schedule of Investments (continued)

March 31, 2009 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Retailing — (continued)
	149,900	Kohl’s Corp.^*	$	6,343,768
	196,883	Ross Stores, Inc.^(a)		7,064,162
	359,400	The TJX Companies, Inc.		9,215,016

				31,889,764

Semiconductors & Semiconductor Equipment — 0.6%
	219,400	KLA-Tencor Corp.^(a)		4,388,000

Software & Services — 4.2%
	1,412,991	Activision Blizzard, Inc.^*^(a)		14,779,886
	56,700	Affiliated Computer Services, Inc. Class A^*		2,715,363
	548,500	CA, Inc.		9,659,085
	125,700	Hewitt Associates, Inc. Class A^*		3,740,832

				30,895,166

Technology Hardware & Equipment — 2.3%
	372,669	Amphenol Corp. Class A^(a)		10,617,340
	354,100	CommScope, Inc.^*		4,022,576
	502,901	Xerox Corp.		2,288,199

				16,928,115

Telecommunication Services — 1.6%
	165,882	Embarq Corp.		6,278,634
	1,603,600	Sprint Nextel Corp.^*		5,724,852

				12,003,486

Transportation — 1.6%
	281,900	Delta Air Lines, Inc.^*		1,587,097
	296,242	Landstar System, Inc.^(a)		9,915,220

				11,502,317

Utilities — 15.4%
	370,090	American Electric Power Co., Inc.		9,348,473
	476,095	CMS Energy Corp.^(a)		5,636,965
	562,499	DPL, Inc.		12,678,728
	419,433	Edison International		12,083,865
	300,371	Entergy Corp.		20,452,261
	164,255	EQT Corp.		5,146,109
	248,862	FirstEnergy Corp.		9,606,073
	355,804	PG&E Corp.		13,598,829
	686,401	PPL Corp.^(a)		19,706,573
	116,422	Sempra Energy		5,383,353

				113,641,229

TOTAL COMMON STOCKS			$	716,966,377


Shares	Rate		Value
Investment Company^(b) — 3.9%
JPMorgan U.S. Government Money Market Fund — Capital Shares
29,113,326	0.482	%	$	29,113,326

TOTAL INVESTMENTS BEFORE SECURITIES LENDING REINVESTMENT VEHICLE			$	746,079,703


Shares	Rate		Value
Securities Lending Reinvestment Vehicle^(b) — 16.1%
Boston Global Investment Trust — Enhanced Portfolio
119,581,817	0.558	%	$	118,266,417

TOTAL INVESTMENTS — 117.2%			$	864,346,120

LIABILITIES IN EXCESS OF OTHER ASSETS — (17.2%)				(126,779,457	)

NET ASSETS — 100.0%			$	737,566,663

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, 2009.

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 MONEY MARKET FUND

Schedule of Investments

March 31, 2009 (Unaudited)


Principal		Interest			Maturity
Amount		Rate			Date	Value
Commercial Paper and Corporate Obligations — 40.9%
Amsterdam Funding Corp.
$	5,000,000		0.850	%	05/27/09	$	4,993,389
Aspen Funding Corp.
	4,000,000		1.000		05/06/09		3,996,111
Atlantic Asset Securitization Corp.
	6,000,000		0.630		07/01/09		5,990,445
Atlantis One Funding Corp.
	2,000,000		0.750		05/04/09		1,998,625
Charta LLC
	1,000,000		1.000		06/18/09		997,833
Ciesco LLC
	1,000,000		1.000		06/19/09		997,806
CRC Funding LLC
	1,000,000		1.000		06/17/09		997,861
Gemini Securitization Corp.
	4,000,000		0.900		05/12/09		3,995,900
Govco LLC
	1,000,000		1.000		06/19/09		997,806
Liberty Street Funding LLC
	5,000,000		0.700		06/12/09		4,993,000
LMA Americas LLC
	4,000,000		0.720		04/24/09		3,998,160
Newport Funding Corp.
	4,000,000		1.000		05/06/09		3,996,111
Ranger Funding Co. LLC
	5,000,000		0.700		05/18/09		4,995,431
Regency Markets No. 1 LLC
	6,000,000		1.000		05/08/09		5,993,833
Sheffield Receivable Corp.
	5,000,000		0.500		04/27/09		4,998,194
Thames Asset Global Securitization, Inc.
	3,000,000		0.650		04/07/09		2,999,675
Ticonderoga Funding LLC
	5,000,000		0.700		05/14/09		4,995,819
Variable Funding Capital Corp.
	4,000,000		0.420		04/24/09		3,998,927
Windmill Funding Corp.
	5,000,000		0.880		05/08/09		4,995,478
	1,000,000		0.930		05/14/09		998,889
Yorktown Capital LLC
	3,000,000		0.720		06/05/09		2,996,100

TOTAL COMMERCIAL PAPER AND CORPORATE OBLIGATIONS						$	74,925,393


Eurodollar Certificates of Deposit — 5.5%
National Australia Bank Ltd.
$	1,000,000		1.210	%	09/23/09	$	1,000,048
HSBC Bank PLC
	5,000,000		1.505		09/10/09		5,000,112
Societe Generale
	4,000,000		1.010		05/05/09		4,000,038

TOTAL EURODOLLAR CERTIFICATES OF DEPOSIT						$	10,000,198


Principal		Interest			Maturity
Amount		Rate			Date	Value
Government Guarantee Commercial Paper — 1.6%
General Electric Capital Corp.
$	1,000,000		0.600	%	06/05/09	$	998,917
	1,000,000		0.850		07/23/09		997,332
	1,000,000		0.850		07/27/09		997,237

TOTAL GOVERNMENT GUARANTEE COMMERCIAL PAPER						$	2,993,486


Government Guarantee Variable Rate Obligations^(a) — 2.2%
Bank of America N.A.
$	1,000,000		1.234	%	04/29/09	$	1,000,000
Royal Bank of Scotland Group PLC
	3,000,000		1.341		05/09/09		3,000,000

TOTAL GOVERNMENT GUARANTEE VARIABLE RATE OBLIGATIONS						$	4,000,000


U.S. Government Agency Obligations — 13.7%
Federal Home Loan Bank
$	2,000,000		1.104	%^(a)	06/08/09	$	1,999,556
	2,000,000		1.293	^(a)	06/10/09		2,000,000
	1,000,000		3.125		06/19/09		999,908
	2,000,000		2.720		09/18/09		2,000,000
	2,000,000		0.950		04/05/10		1,998,528
Federal Home Loan Mortgage Corp.
	1,000,000		1.254	^(a)	04/13/09		1,000,000
	4,000,000		0.536	^(a)	04/20/09		4,000,000
	200,000		1.244	^(a)	06/03/09		199,911
	3,000,000		0.670		11/20/09		2,986,991
	3,000,000		0.850		12/29/09		2,980,734
Federal National Mortgage Association
	2,000,000		0.400	^(a)	04/01/09		1,999,915
	1,000,000		1.244	^(a)	04/13/09		999,614
	2,000,000		0.650		12/28/09		1,990,214

TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS						$	25,155,371


Variable Rate Obligations^(a) — 4.9%
ANZ National Bank Limited
$	3,000,000		1.532	%	06/10/09	$	3,000,000
Royal Bank of Canada
	2,000,000		1.537		05/15/09		2,000,000
Wachovia Bank NA
	4,000,000		1.845		04/06/09		4,001,113

TOTAL VARIABLE RATE OBLIGATIONS						$	9,001,113


Yankee Certificates of Deposit — 7.1%
Banco Bilbao Vizcaya Argentaria SA
$	2,000,000		0.965	%	06/08/09	$	2,000,019
	2,000,000		0.960		06/29/09		2,000,049
BNP Paribas SA
	2,000,000		0.790		04/17/09		2,000,000
Lloyds TSB Group PLC
	5,000,000		1.170		05/13/09		5,000,000

GOLDMAN SACHS VARIABLE INSURANCE TRUST MONEY MARKET FUND

Schedule of Investments (continued)

March 31, 2009 (Unaudited)


Principal			Interest			Maturity
Amount			Rate			Date	Value
Yankee Certificates of Deposit — (continued)
Rabobank Nederland
		1,000,000		0.700	%	06/19/09	$	1,000,000
		1,000,000		1.000		09/04/09		1,000,000

TOTAL YANKEE CERTIFICATES OF DEPOSIT							$	13,000,068

TOTAL INVESTMENTS BEFORE REPURCHASE AGREEMENT — 75.9%							$	139,075,629


Repurchase Agreement^(b) — 25.2%
Joint Repurchase Agreement Account II
$		46,200,000		0.273	%	04/01/09	$	46,200,000
	Maturity Value: $46,200,350

TOTAL INVESTMENTS — 101.1%							$	185,275,629

LIABILITIES IN EXCESS OF OTHER ASSETS — (1.1)%								(2,089,969	)

NET ASSETS — 100.0%							$	183,185,660

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 U.S. Treasury Bill Rate, London Interbank Offering Rate, Prime Lending Rate, or Federal Funds Rate. Interest rate disclosed is that which is in effect at March 31, 2009.

(b) Joint repurchase agreement was entered into on March 31, 2009. Additional information appears in the Notes to the Schedule of Investments section.

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

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

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRATEGIC INTERNATIONAL EQUITY FUND

Schedule of Investments

March 31, 2009 (Unaudited)


Shares		Description	Value
Common Stocks — 91.5%
Australia — 0.3%
	24,287	BHP Billiton Ltd. (Materials)	$	536,771

Bermuda — 0.3%
	131,876	Hiscox Ltd. (Insurance)		583,501

Cyprus — 0.2%
	112,494	ProSafe SE (Energy)^*		400,269

Denmark — 1.5%
	51,919	Novo Nordisk A/S Class B (Pharmaceuticals, Biotechnology & Life Sciences)^(a)		2,489,302

Finland — 0.7%
	100,412	Nokia Oyj (Technology Hardware & Equipment)		1,174,360

France — 9.8%
	33,168	Air Liquide SA (Materials)		2,697,169
	96,089	AXA SA (Insurance)		1,153,303
	13,720	BNP Paribas (Banks)^(b)		566,039
	26,735	Eutelsat Communications (Media)		568,147
	22,768	Ipsen SA (Pharmaceuticals, Biotechnology & Life Sciences)		876,596
	5,979	LVMH Moet Hennessy Louis Vuitton SA (Consumer Durables & Apparel)		375,192
	36,129	SCOR SE (Insurance)		742,436
	23,310	Societe Generale (Banks)		911,814
	96,222	Total SA (Energy)		4,758,119
	142,909	Vivendi (Media)^(b)		3,779,791

				16,428,606

Germany — 5.2%
	5,536	Allianz SE (Registered) (Insurance)		463,377
	95,357	E.ON AG (Utilities)		2,644,640
	14,153	Muenchener Rueckversicherungs-Gesellschaft AG (Registered) (Insurance)		1,723,354
	14,947	Salzgitter AG (Materials)		831,902
	48,031	SAP AG (Software & Services)		1,679,507
	23,059	Siemens AG (Registered) (Capital Goods)		1,316,429

				8,659,209

Hong Kong — 3.7%
	769,000	BOC Hong Kong (Holdings) Ltd. (Banks)		787,593
	218,000	CLP Holdings Ltd. (Utilities)		1,497,889
	65,800	Hang Seng Bank Ltd. (Banks)		664,058
	263,000	Hutchison Whampoa Ltd. (Capital Goods)		1,291,086
	214,000	Sun Hung Kai Properties Ltd. (Real Estate)		1,920,218

				6,160,844

Ireland — 0.4%
	32,488	CRH PLC (Materials)		700,027

Italy — 5.2%
	204,285	Azimut Holding SpA (Diversified Financials)		1,090,457
	229,075	Banca Popolare Di Milano Scarl (Banks)		1,139,392
	92,081	ENI SpA (Energy)		1,782,894
	7,356	Geox SpA (Consumer Durables & Apparel)		45,901


Shares		Description	Value
Common Stocks — (continued)
Italy — (continued)
	338,666	Intesa Sanpaolo SpA (Banks)	$	931,494
	181,568	Mediobanca SpA (Diversified Financials)		1,538,778
	428,051	Snam Rete Gas SpA (Utilities)		2,296,769

				8,825,685

Japan — 24.0%
	82,400	Casio Computer Co. Ltd. (Consumer Durables & Apparel)		589,365
	61,600	Daiichi Sankyo Co. Ltd. (Pharmaceuticals, Biotechnology & Life Sciences)		1,035,683
	50,900	Denso Corp. (Automobiles & Components)		1,028,961
	26,300	East Japan Railway Co. (Transportation)		1,371,130
	49,800	FUJIFILM Holdings Corp. (Technology Hardware & Equipment)		1,096,168
	333,000	Fujitsu Ltd. (Technology Hardware & Equipment)		1,249,494
	40,900	Funai Electric Co. Ltd. (Consumer Durables & Apparel)		1,207,042
	44,800	Hamamatsu Photonics K.K. (Technology Hardware & Equipment)		850,461
	98,000	Hitachi Metals Ltd. (Materials)		697,526
	40,700	Honda Motor Co. Ltd. (Automobiles & Components)		968,895
	356	Japan Tobacco, Inc. (Food, Beverage & Tobacco)		951,654
	358	KDDI Corp. (Telecommunication Services)		1,685,872
	110,400	Komatsu Ltd. (Capital Goods)		1,221,770
	104,500	Kuraray Co. Ltd. (Materials)		897,236
	18,000	Kyocera Corp. (Technology Hardware & Equipment)		1,201,483
	44,500	Kyushu Electric Power Co., Inc. (Utilities)		999,132
	42,700	McDonald’s Holdings Co. (Japan) Ltd. (Consumer Services)		728,269
	67,000	Mitsubishi Corp. (Capital Goods)		888,201
	95,000	Mitsubishi Tanabe Pharma Corp. (Pharmaceuticals, Biotechnology & Life Sciences)		945,753
	330,900	Mitsubishi UFJ Financial Group, Inc. (Banks)		1,630,253
	149,000	Mitsui & Co. Ltd. (Capital Goods)		1,517,906
	76,500	Namco Bandai Holdings, Inc. (Consumer Durables & Apparel)		767,944
	3,100	Nintendo Co. Ltd. (Software & Services)		906,849
	113,000	Nippon Electric Glass Co. Ltd. (Technology Hardware & Equipment)		801,455
	196,000	Nippon Sheet Glass Co. Ltd. (Capital Goods)		490,086
	44,300	Nissha Printing Co. Ltd. (Commercial & Professional Services)		1,416,764
	1,651	NTT Urban Development Corp. (Real Estate)		1,336,201
	17,400	ORIX Corp. (Diversified Financials)		572,659

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRATEGIC INTERNATIONAL EQUITY FUND

Schedule of Investments (continued)

March 31, 2009 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Japan — (continued)
	52,000	Seven & I Holdings Co. Ltd. (Food & Staples Retailing)	$	1,148,007
	16,800	Shin-Etsu Chemical Co. Ltd. (Materials)		825,389
	111,700	Showa Shell Sekiyu K.K. (Energy)		1,025,897
	235	Sony Financial Holdings, Inc. (Insurance)		633,794
	199,000	Sumitomo Metal Industries Ltd. (Materials)		403,868
	88,000	Sumitomo Metal Mining Co. Ltd. (Materials)		846,079
	33,600	Sumitomo Mitsui Financial Group, Inc. (Banks)		1,183,103
	177,000	The Hachijuni Bank Ltd. (Banks)		1,032,603
	85,200	The Kansai Electric Power Co., Inc. (Utilities)		1,851,610
	173,000	TOTO Ltd. (Capital Goods)		874,318
	48,200	Toyota Motor Corp. (Automobiles & Components)		1,531,018

				40,409,898

Jersey — 0.2%
	5,981	Randgold Resources Ltd. (Materials)		319,877


Luxembourg — 0.5%
	40,559	SES FDR (Media)		774,186


Netherlands — 2.1%
	261,232	Koninklijke KPN NV (Telecommunication Services)		3,487,720


Singapore — 0.5%
	124,000	United Overseas Bank Ltd. (Banks)		795,372


Spain — 2.3%
	20,339	Inditex SA (Retailing)		792,590
	152,550	Telefonica SA (Telecommunication Services)		3,042,047

				3,834,637

Sweden — 0.8%
	98,000	Atlas Copco AB Class B (Capital Goods)		667,124
	47,026	Svenska Handelsbanken AB Class A (Banks)		664,524

				1,331,648

Switzerland — 12.9%
	51,690	Credit Suisse Group AG (Registered) (Diversified Financials)		1,573,856
	31,742	Kuehne + Nagel International AG (Registered) (Transportation)^(a)		1,852,130
	509	Lindt & Spruengli AG (Food, Beverage & Tobacco)		680,906
	131,740	Nestle SA (Registered) (Food, Beverage & Tobacco)		4,450,752
	100,929	Novartis AG (Registered) (Pharmaceuticals, Biotechnology & Life Sciences)		3,818,504
	40,014	Roche Holding AG (Pharmaceuticals, Biotechnology & Life Sciences)		5,491,927
	9,929	Sonova Holding AG (Health Care Equipment & Services)		599,265


Shares		Description	Value
Common Stocks — (continued)
Switzerland — (continued)
	6,639	Straumann Holding AG (Registered) (Health Care Equipment & Services)^(a)	$	1,027,927
	9,671	Synthes, Inc. (Health Care Equipment & Services)		1,077,346
	118,077	UBS AG (Registered) (Diversified Financials)^*		1,107,001

				21,679,614

United Kingdom — 20.9%
	649,422	Aegis Group PLC (Media)		769,983
	177,610	Amlin PLC (Insurance)		875,378
	62,846	Autonomy Corp. PLC (Software & Services)^*		1,173,310
	201,867	BG Group PLC (Energy)		3,045,054
	47,460	BHP Billiton PLC (Materials)		936,179
	611,200	BP PLC (Energy)		4,098,332
	283,003	Capita Group PLC (Commercial & Professional Services)		2,752,456
	39,356	Close Brothers Group PLC (Diversified Financials)		302,890
	606,621	Friends Provident PLC (Insurance)		601,510
	570,692	HSBC Holdings PLC (Banks)		3,177,372
	137,172	Imperial Tobacco Group PLC (Food, Beverage & Tobacco)		3,080,665
	111,588	Inmarsat PLC (Telecommunication Services)		781,500
	39,039	Rio Tinto PLC (Materials)		1,310,856
	154,706	Schroders PLC (Diversified Financials)		1,753,755
	162,572	Serco Group PLC (Commercial & Professional Services)		851,860
	118,861	Shire PLC (Pharmaceuticals, Biotechnology & Life Sciences)		1,455,587
	398,985	Standard Life PLC (Insurance)		950,203
	636,868	Tesco PLC (Food & Staples Retailing)		3,042,800
	51,203	Unilever PLC (Food, Beverage & Tobacco)		968,236
	22,961	Venture Production PLC (Energy)		263,475
	1,257,668	Vodafone Group PLC (Telecommunication Services)		2,192,689
	134,066	WPP PLC (Media)		753,961

				35,138,051

TOTAL COMMON STOCKS			$	153,729,577


Exchange Traded Fund^(a) — 5.2%

Australia — 5.2%
	657,392	iShares MSCI Australia Index Fund	$	8,802,479

Expiration

Units

Description

Month

Value

Right^* — 0.1%

Ireland — 0.1%

5,488

CRH PLC (Materials)

08/09

119,578

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRATEGIC INTERNATIONAL EQUITY FUND

Schedule of Investments (continued)

March 31, 2009 (Unaudited)


Shares		Rate	Value
Investment Company^(c) — 2.9%
JPMorgan U.S. Government Money Market Fund — Capital Shares
4,942,945		0.482%	$	4,942,945

TOTAL INVESTMENTS BEFORE SECURITIES LENDING REINVESTMENT VEHICLE			$	167,594,579


Securities Lending Reinvestment Vehicle^(c) — 1.8%

Boston Global Investment Trust — Enhanced Portfolio
	3,024,703	0.558%	$	2,991,431

TOTAL INVESTMENTS — 101.5%			$	170,586,010

LIABILITIES IN EXCESS OF OTHER ASSETS — (1.5)%				(2,494,774	)

NET ASSETS — 100.0%			$	168,091,236

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 as collateral for initial margin requirements on futures transactions.



Investment Abbreviation:
FDR		— Fiduciary 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 STRATEGIC INTERNATIONAL EQUITY FUND

Schedule of Investments (continued)

March 31, 2009 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FUTURES CONTRACTS — At March 31, 2009, the following futures contracts were open:


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

Dow Jones EURO STOXX 50 Index	28	June 2009	$	741,412	$	(469	)
FTSE 100 Index	6	June 2009		334,464		4,116

TOTAL					$	3,647

TAX INFORMATION — At March 31, 2009, the Fund’s aggregate security unrealized gains and losses based on cost for U.S. Federal income tax purposes were as follows:



Tax Cost	$	214,992,331

Gross unrealized gain		4,672,576
Gross unrealized loss		(49,078,897	)

Net unrealized security loss	$	(44,406,321	)

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRUCTURED SMALL CAP EQUITY FUND

Schedule of Investments

March 31, 2009 (Unaudited)


Shares		Description	Value
Common Stocks — 97.6%
Automobiles & Components — 0.2%
	4,377	Autoliv, Inc.	$	81,281
	12,175	Exide Technologies^*		36,525
	2,829	Federal Mogul Corp.^*		18,898
	2,825	Fuel Systems Solutions, Inc.^*^(a)		38,081

				174,785

Banks — 6.5%
	3,894	1st Source Corp.		70,287
	4,807	BancorpSouth, Inc.		100,178
	5,812	BancTrust Financial Group, Inc.^(a)		36,790
	21,228	Brookline Bancorp, Inc.		201,666
	31,164	Cathay General Bancorp^(a)		325,040
	12,296	Central Pacific Financial Corp.		68,858
	5,349	Cullen/Frost Bankers, Inc.		251,082
	41,198	CVB Financial Corp.^(a)		273,143
	25,825	East West Bancorp, Inc.^(a)		118,020
	59,152	First Bancorp^(a)		251,987
	705	First Financial Corp.^(a)		26,014
	28,973	First Financial Northwest, Inc.^(a)		241,635
	5,329	FirstMerit Corp.		96,988
	13,392	Heritage Commerce Corp.		70,308
	42,561	International Bancshares Corp.^(a)		331,976
	2,219	Lakeland Financial Corp.		42,583
	13,932	Pinnacle Financial Partners, Inc.^*^(a)		330,328
	26,858	Provident Financial Services, Inc.		290,335
	11,542	Renasant Corp.		144,967
	3,843	Republic Bancorp, Inc. Class A		71,749
	39,001	Sterling Bancshares, Inc.		255,066
	49,046	Susquehanna Bancshares, Inc.^(a)		457,599
	3,582	TriCo Bancshares^(a)		59,963
	10,183	Trustmark Corp.^(a)		187,163
	25,297	Umpqua Holdings Corp.^(a)		229,191
	8,198	Whitney Holding Corp.		93,867
	39,943	Wilshire Bancorp, Inc.		206,106
	23,669	Wintrust Financial Corp.		291,129

				5,124,018

Capital Goods — 6.8%
	8,827	A.O. Smith Corp.^(a)		222,264
	5,306	AAR Corp.^*^(a)		66,537
	14,445	Acuity Brands, Inc.^(a)		325,590
	5,087	AGCO Corp.^*^(b)		99,705
	4,022	American Science & Engineering, Inc.		224,428
	9,243	American Woodmark Corp.^(a)		162,307
	1,456	Applied Signal Technology, Inc.		29,455
	11,696	Baldor Electric Co.^(a)		169,475
	17,320	Belden, Inc.		216,673
	7,296	Briggs & Stratton Corp.		120,384
	5,723	Ceradyne, Inc.^*		103,758
	1,050	Cubic Corp.		26,597
	12,346	Dycom Industries, Inc.^*		71,483
	15,715	DynCorp International, Inc. Class A^*		209,481
	6,811	EMCOR Group, Inc.^*		116,945
	12,701	Encore Wire Corp.		272,182
	1,855	ESCO Technologies, Inc.^*		71,789
	3,081	Esterline Technologies Corp.^*		62,205
	47,646	Force Protection, Inc.^*		228,701
	9,875	Gibraltar Industries, Inc.		46,610


Shares		Description	Value
Common Stocks — (continued)
Capital Goods — (continued)
	2,138	Graco, Inc.	$	36,496
	11,149	Granite Construction, Inc.		417,865
	5,182	GT Solar International, Inc.^*		34,408
	1,055	Lincoln Electric Holdings, Inc.		33,433
	43,981	LSI Industries, Inc.		227,382
	3,474	MasTec, Inc.^*		42,001
	4,335	Mueller Industries, Inc.		94,026
	8,638	NACCO Industries, Inc. Class A		234,781
	75,691	Power-One, Inc.^*^(a)		66,608
	30,248	Taser International, Inc.^*^(a)		141,561
	3,590	Thomas & Betts Corp.^*		89,822
	24,053	Toro Co.^(a)		581,602
	2,648	Universal Forest Products, Inc.		70,463
	3,367	URS Corp.^*		136,060
	2,744	Watsco, Inc.		93,378
	17,524	Woodward Governor Co.		195,918

				5,342,373

Commercial & Professional Services — 4.0%
	29,890	ACCO Brands Corp.^*		29,292
	7,331	Administaff, Inc.		154,904
	8,191	Amrep Corp.^*		128,599
	22,335	Comfort Systems USA, Inc.		231,614
	19,998	Heidrick & Struggles International, Inc.		354,764
	8,104	HNI Corp.		84,281
	7,566	ICT Group, Inc.^*		42,143
	22,237	Kelly Services, Inc. Class A		179,008
	25,887	Kforce, Inc.^*		181,986
	22,187	Kimball International, Inc. Class B		145,547
	7,779	Knoll, Inc.		47,685
	5,150	Korn/Ferry International^*		46,659
	65,281	MPS Group, Inc.^*		388,422
	8,384	Resources Connection, Inc.^*		126,431
	102,806	Spherion Corp.^*		213,836
	29,841	The Standard Register Co.		136,672
	17,827	TrueBlue, Inc.^*		147,073
	8,389	United Stationers, Inc.^*		235,563
	40,594	Volt Information Sciences, Inc.^*		269,950

				3,144,429

Consumer Durables & Apparel — 1.8%
	19,044	American Greetings Corp. Class A		96,363
	1,067	Blyth, Inc.		27,881
	45,651	Carter’s, Inc.^*		858,695
	1,268	Columbia Sportswear Co.		37,938
	11,150	Polaris Industries, Inc.^(a)		239,056
	3,927	Steven Madden Ltd.^*		73,749
	6,634	Tempur-Pedic International, Inc.		48,428
	3,255	The Timberland Co. Class A^*		38,865

				1,420,975

Consumer Services — 5.4%
	14,047	AFC Enterprises, Inc.^*		63,352
	3,504	American Public Education, Inc.^*		147,378
	2,713	Bob Evans Farms, Inc.		60,826
	8,379	Buffalo Wild Wings, Inc.^*		306,504
	8,604	California Pizza Kitchen, Inc.^*		112,540
	9,465	CEC Entertainment, Inc.^*		244,954

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRUCTURED SMALL CAP EQUITY FUND

Schedule of Investments (continued)

March 31, 2009 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Consumer Services — (continued)
	23,835	CKE Restaurants, Inc.	$	200,214
	10,371	Corinthian Colleges, Inc.^*^(a)		201,716
	5,875	Cracker Barrel Old Country Store, Inc.		168,260
	8,930	Einstein Noah Restaurant Group, Inc.^*		52,062
	858	ITT Educational Services, Inc.^*		104,178
	7,655	Jack in the Box, Inc.^*		178,285
	18,215	Landry’s Restaurants, Inc.^(a)		95,082
	56,840	O’Charleys, Inc.		171,088
	11,629	P.F. Chang’s China Bistro, Inc.^*		266,072
	15,568	Panera Bread Co. Class A^*^(b)		870,251
	21,668	Papa John’s International, Inc.^*^(a)		495,547
	5,432	Peet’s Coffee & Tea, Inc.^*		117,440
	4,273	Red Robin Gourmet Burgers, Inc.^*^(a)		75,333
	5,411	The Cheesecake Factory, Inc.^*		61,956
	35,354	The Steak N Shake Co.^*		267,630

				4,260,668

Diversified Financials — 4.1%
	84,255	Advance America, Cash Advance Centers, Inc.		142,391
	37,537	Apollo Investment Corp.		130,629
	7,739	Cash America International, Inc.		121,193
	40,452	Compass Diversified Holdings		360,832
	12,057	Eaton Vance Corp.		275,502
	2,642	Federated Investors, Inc. Class B		58,811
	15,081	Financial Federal Corp.		319,416
	1,646	First Cash Financial Services, Inc.^*		24,558
	908	GAMCO Investors, Inc. Class A		29,646
	2,267	Greenhill & Co., Inc.		167,418
	43,512	Knight Capital Group, Inc. Class A^*		641,367
	2,587	Life Partners Holdings, Inc.^(a)		44,134
	3,850	Medallion Financial Corp.		28,529
	4,465	Penson Worldwide, Inc.^*		28,710
	2,738	Piper Jaffray Cos, Inc.^*		70,613
	4,427	Primus Guaranty Ltd.^*		6,950
	21,714	Riskmetrics Group, Inc.^*		310,293
	32,455	SEI Investments Co.		396,276
	2,896	Thinkorswim Group, Inc.^*		25,021
	3,370	World Acceptance Corp.^*^(a)		57,627

				3,239,916

Energy — 5.4%
	19,785	Alon USA Energy, Inc.^(a)		271,055
	16,775	Berry Petroleum Co. Class A		183,854
	6,810	Bill Barrett Corp.^*		151,454
	8,125	CARBO Ceramics, Inc.^(a)		231,075
	6,478	Comstock Resources, Inc.^*		193,044
	22,719	Delek US Holdings, Inc.		235,369
	32,521	EXCO Resources, Inc.^*		325,210
	19,456	Frontier Oil Corp.		248,842
	3,497	Holly Corp.		74,137
	1,454	Overseas Shipholding Group, Inc.		32,962
	27,881	Rosetta Resources, Inc.^*		138,011
	18,448	RPC, Inc.^(a)		122,310
	10,928	St. Mary Land & Exploration Co.		144,578
	4,938	Swift Energy Co.^*		36,048
	11,589	Teekay Tankers Ltd. Class A		110,211


Shares		Description	Value
Common Stocks — (continued)
Energy — (continued)
	32,417	Tesoro Corp.^(a)	$	436,657
	32,270	Vaalco Energy, Inc.^*		170,708
	9,904	Venoco, Inc.^*		32,485
	57,144	Western Refining, Inc.^(a)		682,299
	14,205	World Fuel Services Corp.^(a)		449,304

				4,269,613

Food & Staples Retailing — 1.5%
	13,256	Casey’s General Stores, Inc.		353,405
	11,654	Ingles Markets, Inc. Class A		173,994
	9,839	The Great Atlantic & Pacific Tea Co., Inc.^*		52,245
	14,505	The Pantry, Inc.^*		255,433
	5,448	Weis Markets, Inc.		169,106
	17,450	Winn-Dixie Stores, Inc.^*		166,822

				1,171,005

Food, Beverage & Tobacco — 2.7%
	25,832	Alliance One International, Inc.^*		99,195
	5,468	Diamond Foods, Inc.^(a)		152,721
	7,639	Hansen Natural Corp.^*		275,004
	26,852	Imperial Sugar Co.^(a)		193,066
	12,841	J&J Snack Foods Corp.		444,170
	2,742	Lancaster Colony Corp.		113,738
	10,167	Lance, Inc.		211,677
	10,390	National Beverage Corp.^*		95,276
	33,406	Reddy Ice Holdings, Inc.		49,107
	10,687	Sanderson Farms, Inc.		401,297
	13,518	Star Scientific, Inc.^*		57,857

				2,093,108

Health Care Equipment & Services — 6.4%
	4,524	Abaxis, Inc.^*^(a)		77,994
	11,948	Allscripts-Misys Healthcare Solutions, Inc.^(a)		122,945
	7,900	AMERIGROUP Corp.^*		217,566
	24,462	AMN Healthcare Services, Inc.^*		124,756
	12,886	Angiodynamics, Inc.^*		144,839
	5,241	Assisted Living Concepts, Inc. Class A^*		71,068
	769	Atrion Corp.		67,857
	7,147	Cantel Medical Corp.^*		91,982
	8,840	Centene Corp.^*		159,297
	2,478	Chemed Corp.		96,394
	15,258	Computer Programs & Systems, Inc.^(a)		507,634
	12,244	Cyberonics, Inc.^*		162,478
	13,883	ev3, Inc.^*^(a)		98,569
	4,247	Gen-Probe, Inc.^*		193,578
	40,367	HLTH Corp.^*^(a)		417,799
	16,282	Hologic, Inc.^*		213,131
	18,543	Invacare Corp.		297,244
	5,292	IRIS International, Inc.^*		61,017
	18,297	Kindred Healthcare, Inc.^*		273,540
	978	Masimo Corp.^*		28,342
	14,728	Medcath Corp.^*		107,073
	26,101	Medical Action Industries, Inc.^*		216,377
	6,571	Molina Healthcare, Inc.^*		124,980
	24,609	Nighthawk Radiology Holdings, Inc.^*		66,444
	20,226	Palomar Medical Technologies, Inc.^*		146,841

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRUCTURED SMALL CAP EQUITY FUND

Schedule of Investments (continued)

March 31, 2009 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Health Care Equipment & Services — (continued)
	38,511	PharMerica Corp.^*^(a)	$	640,823
	35,595	Theragenics Corp.^*		43,426
	27,413	Universal American Corp.^*		232,188

				5,006,182

Household & Personal Products — 1.1%
	79,904	Central Garden and Pet Co. Class A^*		600,878
	54,267	Mannatech, Inc.^(a)		180,709
	10,614	Prestige Brands Holdings, Inc.^*		54,981
	983	USANA Health Sciences, Inc.^*		21,980

				858,548

Insurance — 4.3%
	8,523	American Safety Insurance Holdings Ltd.^*		98,100
	8,678	Aspen Insurance Holdings Ltd.		194,908
	10,213	CNA Surety Corp.^*		188,328
	5,206	Crawford & Co. Class B^*^(a)		34,984
	4,460	eHealth, Inc.^*		71,405
	2,954	First American Corp.		78,311
	1,429	FPIC Insurance Group, Inc.^*		52,916
	4,695	Hallmark Financial Services, Inc.^*		32,536
	19,603	HCC Insurance Holdings, Inc.		493,800
	10,324	Infinity Property & Casualty Corp.		350,293
	15,707	IPC Holdings Ltd.		424,717
	37,494	Maiden Holdings Ltd.^(a)		167,598
	18,814	National Financial Partners Corp.		60,205
	1,082	National Western Life Insurance Co. Class A		122,266
	8,403	Platinum Underwriters Holdings Ltd.		238,309
	11,690	PMA Capital Corp. Class A^*		48,747
	1,327	ProAssurance Corp.^*		61,865
	4,534	RLI Corp.		227,607
	4,509	Safety Insurance Group, Inc.		140,140
	9,813	Selective Insurance Group, Inc.		119,326
	7,847	Stewart Information Services Corp.		153,016
	6,326	United America Indemnity Ltd. Class A^*		25,430

				3,384,807

Materials — 3.5%
	12,161	A. Schulman, Inc.		164,781
	8,185	American Vanguard Corp.^(a)		105,586
	3,447	Ball Corp.		149,600
	10,810	Brush Engineered Materials, Inc.^*		149,935
	19,118	Compass Minerals International, Inc.		1,077,682
	4,616	Kaiser Aluminum Corp.		106,722
	2,433	Minerals Technologies, Inc.		77,978
	6,533	Myers Industries, Inc.		40,113
	16,282	Rockwood Holdings, Inc.^*		129,279
	1,872	Schweitzer-Mauduit International, Inc.		34,557
	28,427	Spartech Corp.		69,930
	1,487	The Scotts Miracle-Gro Co. Class A^(a)		51,599
	4,800	Wausau Paper Corp.		25,248
	28,593	Westlake Chemical Corp.		418,316
	19,848	Worthington Industries, Inc.		172,876

				2,774,202

Media — 0.4%
	12,523	Cox Radio, Inc. Class A^*		51,344


Shares		Description	Value
Common Stocks — (continued)
Media — (continued)
	63,111	Entercom Communications Corp. Class A	$	69,422
	32,547	Live Nation, Inc.^*		86,901
	3,143	Marvel Entertainment, Inc.^*		83,447

				291,114

Pharmaceuticals, Biotechnology & Life Sciences — 8.9%
	25,880	Acadia Pharmaceuticals, Inc.^*^(a)		24,586
	39,532	Accelrys, Inc.^*		157,337
	2,041	Affymax, Inc.^*^(a)		32,880
	17,404	Albany Molecular Research, Inc.^*		164,120
	24,827	Alexza Pharmaceuticals, Inc.^*^(a)		54,868
	45,279	Alkermes, Inc.^*		549,234
	2,716	Bio-Rad Laboratories, Inc. Class A^*		178,984
	3,867	Cougar Biotechnology, Inc.^*		124,517
	19,055	Cubist Pharmaceuticals, Inc.^*		311,740
	113,361	Depomed, Inc.^*		267,532
	3,423	Dionex Corp.^*		161,737
	27,870	Emergent Biosolutions, Inc.^*^(a)		376,524
	42,888	Enzon Pharmaceuticals, Inc.^*^(a)		260,330
	45,640	Facet Biotech Corp.^*		433,580
	9,484	Genomic Health, Inc.^*		231,220
	15,678	Immunogen, Inc.^*^(a)		111,314
	54,633	Immunomedics, Inc.^*		52,448
	17,506	Isis Pharmaceuticals, Inc.^*^(a)		262,765
	42,026	Lexicon Pharmaceuticals, Inc.^*		45,808
	50,442	Maxygen, Inc.^*		343,006
	10,399	Medivation, Inc.^*^(a)		189,990
	12,517	Molecular Insight Pharmaceuticals, Inc.^*^(a)		44,560
	96,965	Nabi Biopharmaceuticals^*		358,770
	31,580	NPS Pharmaceuticals, Inc.^*		132,636
	10,952	Par Pharmaceutical Cos, Inc.^*		103,715
	77,805	PDL BioPharma, Inc.		550,859
	20,620	Progenics Pharmaceuticals, Inc.^*^(a)		135,886
	55,928	Questcor Pharmaceuticals, Inc.^*		275,166
	18,373	Regeneron Pharmaceuticals, Inc.^*		254,650
	18,006	Salix Pharmaceuticals Ltd.^*		171,057
	28,948	Synta Pharmaceuticals Corp.^*^(a)		61,949
	6,095	The Medicines Co.^*		66,070
	8,554	Valeant Pharmaceuticals International^*^(a)		152,176
	10,086	Varian, Inc.^*		239,442
	11,114	Viropharma, Inc.^*^(a)		58,348
	100,035	XOMA Ltd.^*		53,019

				6,992,823

Real Estate Investment Trust — 4.9%
	10,053	BRE Properties, Inc.		197,340
	10,492	Digital Realty Trust, Inc.^(a)		348,125
	1,557	Federal Realty Investment Trust^(a)		71,622
	41,209	Franklin Street Properties Corp.^(a)		506,871
	9,357	Liberty Property Trust		177,222
	17,000	LTC Properties, Inc.		298,180
	4,704	National Health Investors, Inc.		126,396
	16,325	Nationwide Health Properties, Inc.^(a)		362,252
	15,883	Omega Healthcare Investors, Inc.		223,633

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRUCTURED SMALL CAP EQUITY FUND

Schedule of Investments (continued)

March 31, 2009 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Real Estate Investment Trust — (continued)
	1,733	Rayonier, Inc.	$	52,371
	38,348	Realty Income Corp.^(a)		721,709
	8,992	Regency Centers Corp.^(a)		238,917
	2,517	Saul Centers, Inc.		57,815
	27,290	Senior Housing Properties Trust		382,606
	1,645	Tanger Factory Outlet Centers, Inc.		50,765
	1,584	Universal Health Realty Income Trust		46,300

				3,862,124

Retailing — 5.3%
	10,023	99 Cents Only Stores^*		92,613
	14,769	Aeropostale, Inc.^*		392,265
	29,082	Build-A-Bear Workshop, Inc.^*^(a)		176,528
	4,753	Citi Trends, Inc.^*		108,796
	2,671	Conn’s, Inc.^*		37,501
	7,425	Core-Mark Holding Co., Inc.^*		135,283
	17,209	Fred’s, Inc. Class A		194,117
	9,509	Genesco, Inc.^*^(a)		179,054
	2,231	Group 1 Automotive, Inc.		31,167
	8,216	Hibbett Sports, Inc.^*^(a)		157,911
	53,671	HOT Topic, Inc.^*^(a)		600,578
	8,386	HSN, Inc.^*		43,104
	10,550	Jo-Ann Stores, Inc.^*		172,387
	13,537	Netflix, Inc.^*^(a)		581,008
	11,266	Overstock.com, Inc.^*		103,084
	20,001	PetSmart, Inc.		419,221
	3,042	Rent-A-Center, Inc.^*		58,924
	50,069	Stage Stores, Inc.		504,696
	10,185	The Cato Corp. Class A		186,182

				4,174,419

Semiconductors & Semiconductor Equipment — 3.9%
	2,512	Actel Corp.^*		25,421
	39,275	Applied Micro Circuits Corp.^*		190,876
	32,598	Atmel Corp.^*		118,331
	13,666	Cirrus Logic, Inc.^*		51,384
	8,682	Cohu, Inc.		62,510
	33,003	Cypress Semiconductor Corp.^*^(a)		223,430
	12,318	DSP Group, Inc.^*		53,214
	69,745	Entegris, Inc.^*		59,981
	38,373	Exar Corp.^*		239,448
	26,332	Integrated Device Technology, Inc.^*		119,811
	5,527	IXYS Corp.		44,548
	65,815	Lattice Semiconductor Corp.^*		90,825
	37,931	LSI Corp.^*		115,310
	27,425	Micrel, Inc.		193,072
	45,697	MIPS Technologies, Inc.^*		133,892
	2,272	MKS Instruments, Inc.^*		33,330
	7,421	Netlogic Microsystems, Inc.^*^(a)		203,929
	14,172	Semtech Corp.^*		189,196
	138,775	Silicon Image, Inc.^*		333,060
	99,363	Silicon Storage Technology, Inc.^*		163,949
	34,888	SiRF Technology Holdings, Inc.^*		80,242
	19,287	Ultratech, Inc.^*		240,895
	5,606	Volterra Semiconductor Corp.^*		47,315


Shares		Description	Value
Common Stocks — (continued)
Semiconductors & Semiconductor Equipment — (continued)
	7,551	Zoran Corp.^*	$	66,449

				3,080,418

Software & Services — 8.6%
	10,556	ACI Worldwide, Inc.^*^(a)		197,925
	52,762	Acxiom Corp.		390,439
	1,484	Advent Software, Inc.^*^(b)		49,432
	41,499	ArcSight, Inc.^*		529,942
	42,314	Art Technology Group, Inc.^*		107,901
	18,606	Blackbaud, Inc.		216,016
	9,833	Catapult Communications Corp.^*		68,536
	80,925	Ciber, Inc.^*		220,925
	51,535	Commvault Systems, Inc.^*		565,339
	12,576	CSG Systems International, Inc.^*		179,585
	12,418	DealerTrack Holdings, Inc.^*		162,676
	7,611	Digimarc Corp.^*		73,979
	62,458	EarthLink, Inc.^*		410,349
	14,108	ExlService Holdings, Inc.^*		121,611
	2,531	Genpact Ltd.^*		22,425
	19,941	i2 Technologies, Inc.^*		157,534
	31,143	Internap Network Services Corp.^*		83,775
	45,894	Magma Design Automation, Inc.^*		34,420
	18,870	Manhattan Associates, Inc.^*		326,828
	32,207	Mentor Graphics Corp.^*		142,999
	5,373	MicroStrategy, Inc. Class A^*		183,703
	9,747	Ness Technologies, Inc.^*		28,754
	4,796	Netscout Systems, Inc.^*		34,339
	9,190	NeuStar, Inc. Class A^*		153,933
	49,913	OpenTV Corp. Class A^*		75,369
	2,443	Perot Systems Corp. Class A^*		31,466
	13,232	QAD, Inc.		33,477
	11,609	Rackspace Hosting, Inc.^*		86,951
	30,377	RealNetworks, Inc.^*		70,778
	11,935	Renaissance Learning, Inc.^(a)		107,057
	9,664	RightNow Technologies, Inc.^*		73,156
	24,650	Sapient Corp.^*		110,186
	9,037	Sohu.com, Inc.^*		373,318
	13,449	Startek, Inc.^*		41,692
	11,072	SuccessFactors, Inc.^*		84,479
	27,101	Symyx Technologies, Inc.^*		120,599
	6,910	TeleCommunication Systems, Inc. Class A^*		63,365
	24,010	The Hackett Group, Inc.^*		48,500
	23,717	TIBCO Software, Inc.^*		139,219
	93,528	TiVo, Inc.^*^(a)		658,437
	25,735	United Online, Inc.		114,778
	4,750	Valueclick, Inc.^*		40,423
	3,621	Vignette Corp.^*		24,188
	3,814	Wind River Systems, Inc.^*		24,410

				6,785,213

Technology Hardware & Equipment — 5.2%
	52,491	3Com Corp.^*		162,197
	31,393	Acme Packet, Inc.^*		190,555
	4,695	Airvana, Inc.^*		27,466
	43,157	Arris Group, Inc.^*		318,067
	27,060	Avanex Corp.^*		47,355
	21,162	Avid Technology, Inc.^*^(a)		193,421

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRUCTURED SMALL CAP EQUITY FUND

Schedule of Investments (continued)

March 31, 2009 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Technology Hardware & Equipment — (continued)
	4,741	Avocent Corp.^*	$	57,556
	22,369	Benchmark Electronics, Inc.^*		250,533
	24,844	BigBand Networks, Inc.^*		162,728
	63,321	Brightpoint, Inc.^*		271,014
	2,185	Cogent, Inc.^*		26,001
	16,278	Cray, Inc.^*		56,973
	5,597	Electronics for Imaging, Inc.^*		54,851
	11,458	Emulex Corp.^*		57,634
	25,187	Hypercom Corp.^*		24,179
	25,283	Imation Corp.		193,415
	26,362	Ingram Micro, Inc. Class A^*		333,216
	23,278	Novatel Wireless, Inc.^*		130,822
	10,225	Polycom, Inc.^*		157,363
	7,439	Riverbed Technology, Inc.^*		97,302
	7,311	ShoreTel, Inc.^*		31,510
	19,674	Starent Networks Corp.^*		311,046
	21,654	Symmetricom, Inc.^*		75,789
	7,023	Synaptics, Inc.^*^(a)		187,935
	8,506	Tech Data Corp.^*		185,261
	80,234	Tellabs, Inc.^*		367,472
	14,064	Tollgrade Communications, Inc.^*		81,571

				4,053,232

Telecommunication Services — 2.2%
	14,594	Cbeyond, Inc.^*^(a)		274,805
	12,941	Centennial Communications Corp.^*		106,893
	4,538	Global Crossing Ltd.^*		31,766
	38,140	IDT Corp. Class B^*		44,242
	9,723	Iowa Telecommunications Services, Inc.^(a)		111,426
	6,013	NTELOS Holdings Corp.		109,076
	62,332	PAETEC Holding Corp.^*		89,758
	18,838	Premiere Global Services, Inc.^*		166,151
	6,075	Syniverse Holdings, Inc.^*		95,742
	11,074	tw telecom, inc.^*		96,897
	60,690	USA Mobility, Inc.		558,955

				1,685,711

Transportation — 2.4%
	24,451	American Commercial Lines, Inc.^*^(a)		77,510
	9,436	Arkansas Best Corp.		179,473
	6,560	Celadon Group, Inc.^*		36,408
	2,304	J.B. Hunt Transport Services, Inc.		55,549
	2,301	Knight Transportation, Inc.^(a)		34,883
	19,848	Marten Transport Ltd.^*		370,761
	19,958	Pacer International, Inc.		69,853
	20,225	Saia, Inc.^*		241,689
	18,974	SkyWest, Inc.		236,036
	7,243	Universal Truckload Services, Inc.		103,864
	4,884	UTi Worldwide, Inc.		58,364
	28,990	Werner Enterprises, Inc.^(a)		438,329

				1,902,719

Utilities — 2.1%
	935	American States Water Co.		33,959
	5,005	Black Hills Corp.		89,539
	1,963	CH Energy Group, Inc.		92,065
	3,773	El Paso Electric Co.^*		53,162


Shares		Description	Value
Common Stocks — (continued)
Utilities — (continued)
	17,188	New Jersey Resources Corp.	$	584,048
	4,317	NorthWestern Corp.		92,729
	5,617	PNM Resources, Inc.		46,396
	14,149	Portland General Electric Co.		248,881
	3,974	The Empire District Electric Co.		57,385
	11,582	Unisource Energy Corp.		326,497

				1,624,661

TOTAL COMMON STOCKS			$	76,717,063

Expiration

Units

Description

Month

Value

Right^* — 0.0%

Insurance — 0.0%

11,150

United America

Indemnity Ltd.

04/09

5,225


		Interest
Shares		Rate	Value
Investment Company^(c) — 2.8%
JPMorgan U.S. Government Money Market Fund — Capital Shares
	2,236,283	0.482%	$	2,236,283

TOTAL INVESTMENTS BEFORE SECURITIES LENDING REINVESTMENT VEHICLE			$	78,958,571


Securities Lending Reinvestment Vehicle^(c) — 17.2%
Boston Global Investment Trust — Enhanced Portfolio II
	13,688,466	0.584%	$	13,510,516

TOTAL INVESTMENTS — 117.6%			$	92,469,087

LIABILITIES IN EXCESS OF OTHER ASSETS — (17.6)%				(13,851,897	)

NET ASSETS — 100.0%			$	78,617,190

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 as collateral for initial margin requirements on futures transactions.

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

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRUCTURED SMALL CAP EQUITY FUND

Schedule of Investments (continued)

March 31, 2009 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FUTURES CONTRACTS — At March 31, 2009, the following futures contract were open:

Number of

Contracts

Settlement

Notional

Unrealized

Type

Long

Month

Value

Gain

Russell 2000 Mini Index

June 2009

1,769,460

147,764

TAX INFORMATION — At March 31, 2009, the Fund’s aggregate security unrealized gains and losses based on cost for U.S. Federal income tax purposes were as follows:



Tax Cost	$	109,587,250

Gross unrealized gain		4,681,297
Gross unrealized loss		(21,799,460	)

Net unrealized security loss	$	(17,118,163	)

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

Schedule of Investments

March 31, 2009 (Unaudited)


Shares		Description	Value
Common Stocks — 97.4%
Automobiles & Components — 0.2%
	63,793	Johnson Controls, Inc.	$	765,516

Banks — 1.5%
	61,660	BB&T Corp.^(a)		1,043,287
	77,618	Comerica, Inc.		1,421,186
	25,896	Hudson City Bancorp, Inc.		302,724
	46,858	Synovus Financial Corp.^(a)		152,289
	14,256	TFS Financial Corp.^(a)		172,925
	178,864	Wells Fargo & Co.		2,547,023

				5,639,434

Capital Goods — 4.5%
	14,032	AGCO Corp.^*^(b)		275,027
	5,078	Danaher Corp.		275,329
	177,571	Emerson Electric Co.		5,074,979
	4,308	Fluor Corp.		148,841
	176,072	General Electric Co.		1,780,088
	15,489	Illinois Tool Works, Inc.		477,836
	46,169	Lockheed Martin Corp.		3,187,046
	17,378	Northrop Grumman Corp.		758,376
	3,707	Rockwell Collins, Inc.		120,997
	47,216	Toro Co.^(a)		1,141,683
	32,555	Tyco International Ltd.		636,776
	17,638	United Technologies Corp.		758,081
	28,617	URS Corp.^*		1,156,413
	14,302	W.W. Grainger, Inc.		1,003,714

				16,795,186

Commercial & Professional Services — 0.4%
	22,951	Manpower, Inc.		723,645
	50,170	Robert Half International, Inc.^(a)		894,531

				1,618,176

Consumer Services — 4.5%
	64,401	Apollo Group, Inc. Class A^*		5,044,530
	5,886	ITT Educational Services, Inc.^*^(a)		714,678
	107,884	McDonald’s Corp.		5,887,230
	39,891	Panera Bread Co. Class A^*^(a)		2,229,907
	106,975	Yum! Brands, Inc.		2,939,673

				16,816,018

Diversified Financials — 6.6%
	10,594	BlackRock, Inc.^(a)		1,377,644
	99,806	Citigroup, Inc.		252,509
	19,730	CME Group, Inc.		4,861,275
	109,159	Eaton Vance Corp.^(a)		2,494,283
	29,644	Federated Investors, Inc. Class B		659,876
	19,174	Franklin Resources, Inc.		1,032,903
	201,704	JPMorgan Chase & Co.		5,361,292
	98,431	Moody’s Corp.^(a)		2,256,039
	44,556	Morgan Stanley		1,014,540
	116,866	SEI Investments Co.		1,426,934
	68,515	T. Rowe Price Group, Inc.^(a)		1,977,343
	32,625	The Bank of New York Mellon Corp.		921,656
	90,598	The Charles Schwab Corp.^(a)		1,404,269

				25,040,563

Energy — 14.7%
	23,218	Apache Corp.^(b)		1,488,042
	140,736	Chevron Corp.		9,463,089
	84,515	ConocoPhillips		3,309,607


Shares		Description	Value
Common Stocks — (continued)
Energy — (continued)
	66,070	Devon Energy Corp.	$	2,952,668
	287,803	Exxon Mobil Corp.		19,599,384
	57,880	Frontier Oil Corp.		740,285
	40,479	Murphy Oil Corp.		1,812,245
	38,241	Occidental Petroleum Corp.		2,128,112
	69,623	Schlumberger Ltd.		2,828,086
	54,313	Southwestern Energy Co.^*		1,612,553
	87,708	Sunoco, Inc.		2,322,508
	172,478	Tesoro Corp.^(a)		2,323,279
	269,605	Valero Energy Corp.		4,825,929

				55,405,787

Food & Staples Retailing — 3.6%
	102,085	BJ’s Wholesale Club, Inc.^*		3,265,699
	25,696	SUPERVALU, Inc.		366,939
	20,229	The Kroger Co.		429,260
	181,843	Wal-Mart Stores, Inc.		9,474,020

				13,535,918

Food, Beverage & Tobacco — 6.9%
	229,898	Altria Group, Inc.		3,682,966
	70,411	Archer-Daniels-Midland Co.		1,956,018
	41,332	Bunge Ltd.^(a)		2,341,458
	26,882	Campbell Soup Co.		735,491
	64,324	Coca-Cola Enterprises, Inc.		848,434
	10,921	Dean Foods Co.^*		197,452
	107,657	Hansen Natural Corp.^*^(a)		3,875,652
	26,986	Hormel Foods Corp.		855,726
	120,165	Lorillard, Inc.		7,418,987
	9,511	PepsiAmericas, Inc.^(a)		164,065
	35,356	PepsiCo, Inc.		1,820,127
	12,957	Philip Morris International, Inc.		461,010
	27,834	The Hershey Co.		967,231
	80,923	Tyson Foods, Inc. Class A		759,867

				26,084,484

Health Care Equipment & Services — 2.9%
	28,165	AmerisourceBergen Corp.		919,869
	277,672	Boston Scientific Corp.^*		2,207,492
	4,179	Cerner Corp.^*		183,751
	3,256	Gen-Probe, Inc.^*		148,408
	97,825	HLTH Corp.^*^(a)		1,012,489
	55,376	Hologic, Inc.^*^(a)		724,872
	73,642	Humana, Inc.^*		1,920,583
	28,897	McKesson Corp.		1,012,551
	36,224	Medco Health Solutions, Inc.^*		1,497,500
	34,343	Medtronic, Inc.		1,012,088
	14,631	Varian Medical Systems, Inc.^*		445,368

				11,084,971

Household & Personal Products — 1.8%
	80,273	Colgate-Palmolive Co.		4,734,502
	47,216	The Procter & Gamble Co.		2,223,401

				6,957,903

Insurance — 2.0%
	31,780	Aflac, Inc.		615,261
	10,676	Fidelity National Financial, Inc. Class A		208,289
	24,511	First American Corp.		649,787
	111,074	HCC Insurance Holdings, Inc.		2,797,954

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

Schedule of Investments (continued)

March 31, 2009 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Insurance — (continued)
	101,798	Loews Corp.	$	2,249,736
	27,429	The Travelers Companies, Inc.		1,114,714

				7,635,741

Materials — 2.6%
	50,862	Ball Corp.		2,207,411
	15,055	Ecolab, Inc.		522,860
	34,057	Monsanto Co.		2,830,137
	47,912	Newmont Mining Corp.		2,144,541
	10,461	Reliance Steel & Aluminum Co.		275,438
	12,062	Sonoco Products Co.		253,061
	51,028	Southern Copper Corp.^(a)		888,908
	13,732	The Scotts Miracle-Gro Co. Class A^(a)		476,500

				9,598,856

Media — 2.8%
	174,637	Comcast Corp. Class A		2,382,049
	35,500	Comcast Corp. Special Class A^(a)		456,885
	73,105	The Walt Disney Co.		1,327,587
	83,402	Time Warner Cable, Inc.^(a)		2,068,362
	216,016	Time Warner, Inc.		4,169,111

				10,403,994

Pharmaceuticals, Biotechnology & Life Sciences — 11.8%
	75,905	Amgen, Inc.^*		3,758,816
	38,065	Biogen Idec, Inc.^*		1,995,367
	23,834	Bristol-Myers Squibb Co.		522,441
	184,264	Eli Lilly & Co.		6,156,260
	49,695	Forest Laboratories, Inc.^*		1,091,302
	219,165	Gilead Sciences, Inc.^*^(a)		10,151,723
	76,352	Johnson & Johnson^(a)		4,016,115
	86,541	King Pharmaceuticals, Inc.^*		611,845
	138,828	Merck & Co., Inc.		3,713,649
	253,486	Pfizer, Inc.		3,452,480
	270,418	Schering-Plough Corp.		6,368,344
	15,387	Thermo Fisher Scientific, Inc.^*		548,854
	49,148	Wyeth		2,115,330

				44,502,526

Real Estate Investment Trust — 1.1%
	88,856	Annaly Capital Management, Inc.		1,232,433
	4,292	Digital Realty Trust, Inc.^(a)		142,408
	24,147	Equity Residential		443,097
	45,675	Nationwide Health Properties, Inc.^(a)		1,013,528
	23,538	Plum Creek Timber Co., Inc.		684,250
	5,283	Public Storage		291,886
	6,030	Rayonier, Inc.		182,227
	4,952	Simon Property Group, Inc.^(a)		171,537

				4,161,366

Retailing — 2.6%
	11,635	Amazon.com, Inc.^*^(a)		854,475
	7,657	Dollar Tree, Inc.^*		341,119
	68,265	Family Dollar Stores, Inc.		2,278,003
	158,878	PetSmart, Inc.		3,330,083
	81,549	Ross Stores, Inc.		2,925,978

				9,729,658


Shares		Description	Value
Common Stocks — (continued)
Semiconductors & Semiconductor Equipment — 2.9%
	146,656	Broadcom Corp. Class A^*^(a)	$	2,930,187
	75,032	Cypress Semiconductor Corp.^*		507,967
	292,109	Intel Corp.		4,396,240
	83,977	LSI Corp.^*		255,290
	34,513	Marvell Technology Group Ltd.^*		316,139
	156,602	Texas Instruments, Inc.		2,585,499

				10,991,322

Software & Services — 6.7%
	242,626	Accenture Ltd. Class A^(a)		6,669,789
	132,357	Adobe Systems, Inc.^*		2,831,116
	14,344	Google, Inc. Class A^*		4,992,573
	363,099	Microsoft Corp.		6,670,129
	50,048	Oracle Corp.^*		904,367
	18,420	Sohu.com, Inc.^*^(a)		760,930
	98,048	Symantec Corp.^*		1,464,837
	59,113	VeriSign, Inc.^*		1,115,462

				25,409,203

Technology Hardware & Equipment — 7.8%
	61,278	Apple, Inc.^*		6,441,543
	418,328	Cisco Systems, Inc.^*		7,015,361
	158,964	Dell, Inc.^*		1,506,979
	345,870	EMC Corp.^*		3,942,918
	21,878	Hewlett-Packard Co.		701,409
	72,033	Ingram Micro, Inc. Class A^*		910,497
	40,177	International Business Machines Corp.		3,892,749
	149,644	NetApp, Inc.^*		2,220,717
	60,125	QUALCOMM, Inc.		2,339,464
	126,046	Tellabs, Inc.^*		577,291

				29,548,928

Telecommunication Services — 4.6%
	170,890	AT&T, Inc.^(b)		4,306,428
	133,282	Embarq Corp.		5,044,724
	569,046	Sprint Nextel Corp.^*		2,031,494
	191,737	Verizon Communications, Inc.		5,790,457

				17,173,103

Transportation — 3.1%
	41,221	C.H. Robinson Worldwide, Inc.		1,880,090
	57,956	Expeditors International of Washington, Inc.^(a)		1,639,575
	38,001	FedEx Corp.		1,690,665
	169,121	J.B. Hunt Transport Services, Inc.^(a)		4,077,507
	49,333	United Parcel Service, Inc. Class B		2,428,170

				11,716,007

Utilities — 1.8%
	8,011	American Water Works Co., Inc.		154,132
	6,954	Aqua America, Inc.		139,080
	624,532	Dynegy, Inc. Class A^*		880,590
	65,796	Exelon Corp.^(a)		2,986,480
	19,299	Integrys Energy Group, Inc.		502,546
	43,742	NiSource, Inc.		428,672
	8,183	OGE Energy Corp.		194,919
	47,995	PPL Corp.		1,377,936

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

Schedule of Investments (continued)

March 31, 2009 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Utilities — (continued)
	5,998	Vectren Corp.	$	126,498

				6,790,853

TOTAL COMMON STOCKS			$	367,405,513


Shares		Rate	Value
Investment Company^(c) — 2.3%
JPMorgan U.S. Government Money Market Fund — Capital Shares
	8,754,771	0.482%	$	8,754,771

TOTAL INVESTMENTS BEFORE SECURITIES LENDING REINVESTMENT VEHICLE			$	376,160,284



Securities Lending Reinvestment Vehicle^(c) — 10.2%
Boston Global Investment Trust — Enhanced Portfolio II
	38,854,822	0.584%	$	38,349,709

TOTAL INVESTMENTS — 109.9%			$	414,509,993

LIABILITIES IN EXCESS OF OTHER ASSETS — (9.9)%				(37,312,067	)

NET ASSETS — 100.0%			$	377,197,926

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 as collateral for initial margin requirements on futures transactions.

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

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

Schedule of Investments (continued)

March 31, 2009 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FUTURES CONTRACTS — At March 31, 2009, the following futures contracts were open:

Number of

Contracts

Settlement

Notional

Unrealized

Type

Long

Month

Value

Gain

S & P 500 E-mini

188

June 2009

7,471,120

383,555

TAX INFORMATION — At March 31, 2009, the Fund’s aggregate security unrealized gains and losses based on cost for U.S. Federal income tax purposes were as follows:



Tax Cost	$	487,181,057

Gross unrealized gain		13,534,394
Gross unrealized loss		(86,205,458	)

Net unrealized security loss	$	(72,671,064	)

GOLDMAN SACHS VARIABLE INSURANCE TRUST FUNDS

Schedule of Investments (continued)

March 31, 2009 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS

Investment Valuation — The investment valuation policy of the Funds (except VIT Money Market Fund) is to value investments at market value. Investments in equity securities traded on a foreign securities exchange are valued daily at fair value determined by an independent fair value service (if available) under valuation procedures approved by the Board of Trustees consistent with applicable regulatory guidance. The independent fair value service takes into account multiple factors including, but not limited to, movements in the United States (“U.S.”) securities markets, certain depositary receipts, futures contracts and foreign currency exchange rates that have occurred subsequent to the close of the 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 Goldman Sachs Asset Management International (“GSAMI”) by taking into consideration market or security specific information as discussed below.

Debt securities for which market quotations are readily available are valued on the basis of quotations furnished by an independent pricing service approved by the trustees or provided by securities dealers. The pricing services may use valuation models or matrix pricing, which consider either (i) yield or price with respect to bonds that are considered comparable in characteristics such as rating, interest rate and maturity date or (ii) quotations from bond dealers, to determine current value. If accurate quotations are not readily available, or if Goldman Sachs Asset Management, L.P. (“GSAM”) or GSAMI 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. Short-term debt obligations that mature in sixty days or less and that do not exhibit signs of credit deterioration are valued at amortized cost, which approximates market value.

Investments in equity securities and investment companies traded on a U.S. securities exchange or the NASDAQ system are valued daily at their last sale price or official closing price on the principal exchange or system on which they are traded. Investments in equity securities and investment companies traded on a foreign securities exchange for which an independent fair value service cannot provide a quote are valued daily at their last sale price or official closing price on the principal exchange on which they are traded. If no sale occurs, such securities and investment companies are valued at the last bid price for long positions and at the last ask price for short positions. Unlisted equity securities for which market quotations are available are valued at the last sale price on the valuation date, or if no sale occurs, at the last bid price. In the absence of market quotations, broker quotes will be utilized or the security will be fair valued. Investments in investment companies (other than those that are exchange traded) are valued at the net asset value per share (“NAV”) on the valuation date.

It is the Money Market Fund’s policy to use 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 at a 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 or reset date. To ensure the amortized-cost method approximates market value, GSAM will evaluate the difference between the amortized cost price per unit of the Fund and the net asset value per unit based upon available market quotations (or permitted substitutes) at least once a week or more frequently, if deemed necessary or appropriate.

GSAM or GSAMI, consistent with its procedures and applicable regulatory guidance, may make an adjustment to the previous closing prices of either domestic or foreign securities in light of significant events to reflect what it believes to be the fair value of the securities at the time it determines a Fund’s NAV. Significant events that could affect a large number of securities in a particular market may include, but are not limited to: situations relating to one or more single issuers in a market sector; significant fluctuations in U.S. or foreign markets; market dislocations; market disruptions or market closings; equipment failures; natural or man-made disasters or acts of God; armed conflicts; government actions or other developments; as well as the same or similar events which may affect specific issuers or the securities markets even though not tied directly to the securities markets. Other significant events that could relate to a single issuer may include, but are not limited to: corporate actions such as reorganizations, mergers and buy-outs; corporate announcements, including those relating to earnings, products and regulatory news; significant litigation; low trading volume; and trading limits or suspensions.

Fair Value Hierarchy — Under FASB Statement of Financial Accounting Standards No. 157, Fair Value Measurements (“FAS 157”), the fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). Fair value measurements do not include transaction costs. FAS 157 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical

GOLDMAN SACHS VARIABLE INSURANCE TRUST FUNDS

Schedule of Investments (continued)

March 31, 2009 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (CONTINUED)

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 FAS 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.

The following is a summary of the Fund investments categorized in the fair value hierarchy:


	Capital Growth		Growth and Income		Mid Cap Value		Growth Opportunities		Money Market
	Investments in		Investments in		Investments in		Investments in		Investments in
	Securities Long-		Securities Long-		Securities Long-		Securities Long-		Securities Long-
Level	Assets		Assets		Assets		Assets		Assets

Level 1	$	251,579,867	$	426,645,415	$	746,079,703	$	89,128,493	$	—

Level 2		26,552,111		12,904,402		118,266,417		21,045,844		185,275,629	^(a)

Level 3		—		—		—		—		—

Total	$	278,131,978	$	439,549,817	$	864,346,120	$	110,174,337	$	185,275,629


	Equity Index				Structured Small Cap Equity				Structured U.S. Equity
	Investments in				Investments in				Investments in
	Securities Long-		Derivatives –		Securities Long-		Derivatives –		Securities Long-		Derivatives –
Level	Assets		Assets^(b)		Assets		Assets^(b)		Assets		Assets^(b)

Level 1	$	157,119,332	$	76,408	$	78,953,346	$	147,764	$	376,160,284	$	383,555

Level 2		—		—		13,515,741		—		38,349,709		—

Level 3		—		—		—		—		—		—

Total	$	157,119,332	$	76,408	$	92,469,087	$	147,764	$	414,509,993	$	383,555


	Strategic International Equity
	Investments in
	Securities Long-		Derivatives –		Derivatives –
Level	Assets^(c)		Assets^(b)		Liabilities^(b)

Level 1	$	13,745,424	$	4,116	$	(469	)

Level 2		156,840,586		—		—

Level 3		—		—		—

Total	$	170,586,010	$	4,116	$	(469	)


	Core Fixed Income
	Investments in		Investments in
	Securities Long-		Securities Long-			Derivatives –		Derivatives –
Level	Assets		Liabilities			Assets^(b)		Liabilities^(b)

Level 1	$	7,373,499	$	—		$	759,325	$	(6,234	)

Level 2		164,540,696		(5,215,312	)		104,388		(103,370	)

Level 3		297,500		—			—		—

Total	$	172,211,695	$	(5,215,312	)	$	863,713	$	(109,604	)

GOLDMAN SACHS VARIABLE INSURANCE TRUST MONEY MARKET FUNDS

Schedule of Investments (continued)

March 31, 2009 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (CONTINUED)


	Government Income
	Investments in		Investments in
	Securities Long-		Securities Long-			Derivatives –		Derivatives –
Level	Assets		Liabilities			Assets^(b)		Liabilities^(b)

Level 1	$	11,108,161	$	—		$	390,015	$	(7,066	)

Level 2		74,703,971		(3,113,750	)		—		—

Level 3		88,500		—			—		—

Total	$	85,900,632	$	(3,113,750	)	$	390,015	$	(7,066	)

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

^(b)		Derivatives may include open forward foreign currency contracts, futures contracts, swap contracts and written options.

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

The following is a reconciliation of Level 3 investments for the period ended March 31, 2009:


	Core Fixed Income			Government Income
	Investment in			Investment in
	Securities Long -			Securities Long -
Level 3	Assets			Assets

Beginning balance as of December 31, 2008	$	—		$	—

Realized gain (loss)		—			—

Unrealized gains/(losses) relating to instruments still held at reporting date		(71,750	)		(21,450	)

Net purchase (sales)		—			—

Net transfers in and/or out of Level 3		369,250			109,950

Ending Balance as of March 31, 2009	$	297,500		$	88,500

Forward Foreign Currency Exchange Contracts — The Funds may enter into forward foreign currency exchange 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, portfolio positions or to seek to increase total return. All contracts are “marked-to-market” daily at the applicable forward rate and any resulting unrealized gains or losses are recorded by the Funds. The Funds record realized gains or losses on the settlement date of a contract.

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 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. The Funds must set aside liquid assets, or engage in other appropriate measures to cover their obligations under these contracts.

Futures Contracts — The Funds may purchase or sell futures contracts 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 deposit cash or securities in an account on behalf of the broker in an amount sufficient to meet the initial margin requirement. Subsequent payments are made or received by the Funds equal to the daily change in the contract value and are recorded as variation margin receivable or payable with a corresponding offset in unrealized gains or losses. The Funds recognize a realized gain or loss when a contract is closed or expires.

The use of futures contracts involves, to varying degrees, elements of market and counterparty risk which may exceed the amounts recognized in the Statements of Assets and Liabilities. Futures contracts may be illiquid, and exchanges may limit fluctuations in futures contract prices during a single day. Changes in the value of a futures contract may not directly correlate with changes in the value of the underlying securities. These risks may decrease the effectiveness of the Funds’ strategies and potentially

GOLDMAN SACHS VARIABLE INSURANCE TRUST FUNDS

Schedule of Investments (continued)

March 31, 2009 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (CONTINUED)

result in a loss. The Funds must set aside liquid assets, or engage in other appropriate measures to cover their obligations under these contracts.

Mortgage-Backed and Asset-Backed Securities — The Core Fixed Income, Government Income and Growth Opportunities Funds may invest in mortgage-backed and/or asset-backed securities. Mortgage-backed securities represent direct or indirect participations in, or are collateralized by and payable from, mortgage loans secured by residential and/or commercial real property. These securities may include mortgage pass-through securities, collateralized mortgage obligations, real estate mortgage investment conduit pass-through or participation certificates, and stripped mortgage-backed securities. Asset-backed securities include securities whose principal and interest payments are collateralized by pools of assets such as auto loans, credit card receivables, leases, installment contracts and personal property. Asset-backed securities also include home equity line of credit loans and other second-lien mortgages.

The value of certain mortgage-backed and asset-backed securities (including adjustable rate mortgage loans) may be particularly sensitive to changes in prevailing interest rates. The value of these securities may also fluctuate in response to the market’s perception of the creditworthiness of the issuers. Early repayment of principal on mortgage-backed or asset-backed securities may expose a Fund to the risk of earning a lower rate of return upon reinvestment of principal. Asset-backed securities may present credit risks that are not presented by mortgage-backed securities because they generally do not have the benefit of a security interest in collateral that is comparable to mortgage assets. Some asset-backed securities may only have a subordinated claim on collateral. In addition, while mortgage-backed and asset-backed securities may be supported by some form of government or private guarantee and/or insurance, there is no assurance that private guarantors or insurers, if any, will meet their obligations.

Stripped mortgage-backed securities are usually structured with two different classes: one that receives substantially all of the interest payments (the interest-only, or “IO” and/or the high coupon rate with relatively low principal amount, or “IOette”), and the other that receives substantially all of the principal payments (the principal-only, or “PO”) from a pool of mortgage loans. Little to no principal will be received at the maturity of an IO; as a result, adjustments are made to the cost of the security on a daily basis until maturity.

Mortgage Dollar Rolls — The Core Fixed Income and Government Income Funds may enter into mortgage dollar rolls (“dollar rolls”) in which the Funds sell securities in the current month for delivery and simultaneously contract with the same counterparty to repurchase similar (same type, coupon and maturity) but not identical securities on a specified future date. The Funds treat dollar rolls as two separate transactions; one involving the purchase of a security and a separate transaction involving a sale.

During the settlement period between sale and repurchase, the Funds will not be entitled to accrued interest and principal payments on the securities sold. Dollar roll transactions involve the risk that the market value of the securities sold by the Funds may decline below the repurchase price of those securities. In the event the buyer of the securities under a dollar roll transaction files for bankruptcy or becomes insolvent, the Funds’ use of proceeds of the transaction may be restricted pending a determination by, or with respect to, the other party.

Repurchase Agreements — The Funds may enter into 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 Funds, 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 that the Fund seeks to assert its rights. The underlying securities for all repurchase agreements are held in safekeeping at the Funds’ custodian or designated subcustodians under tri-party repurchase agreements. Under these arrangements, the Funds are permitted to deliver or re-pledge these securities.

Pursuant to exemptive relief granted by the Securities and Exchange Commission and terms and conditions contained therein, the Funds, together with other registered investment companies having management agreements with 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. Under these joint accounts, the Funds’ credit exposure is allocated to the underlying repurchase counterparties on a pro-rata basis. With the exception of certain transaction fees, the Funds are not subject to any expenses in relation to these investments.

GOLDMAN SACHS VARIABLE INSURANCE TRUST FUNDS

Schedule of Investments (continued)

March 31, 2009 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (CONTINUED)

JOINT REPURCHASE AGREEMENT ACCOUNT II — At March 31, 2009, the VIT Money Market Fund had an undivided interest in the Joint Repurchase Agreement Account II, which equaled 46,200,000 in principal amount.

REPURCHASE AGREEMENTS


	Principal		Interest			Maturity		Maturity
Counterparty	Amount		Rate			Date		Value

Banc of America Securities LLC	$	1,700,000,000		0.25	%		04/01/09	$	1,700,011,805

Barclays Capital, Inc.		3,250,000,000		0.32			04/01/09		3,250,028,889

Citigroup Global Markets, Inc.		1,000,000,000		0.28			04/01/09		1,000,007,778

Credit Suisse Securities (USA) LLC		3,000,000,000		0.25			04/01/09		3,000,020,833

Deutsche Bank Securities, Inc.		3,002,900,000		0.25			04/01/09		3,002,920,853

Greenwich Capital Markets		500,000,000		0.30			04/01/09		500,004,167

JPMorgan Securities		3,050,000,000		0.29			04/01/09		3,050,024,569

Merrill Lynch & Co., Inc.		750,000,000		0.25			04/01/09		750,005,208

Morgan Stanley & Co.		500,000,000		0.22			04/01/09		500,003,056

UBS Securities LLC		300,000,000		0.23			04/01/09		300,001,917

UBS Securities LLC		200,000,000		0.30			04/01/09		200,001,667

TOTAL								$	17,253,030,742

At March 31, 2009, the Joint Repurchase Agreement Account II was fully collateralized by Federal Farm Credit Bank, 2.380% to 6.900%, due 04/01/09 to 11/15/18; Federal Home Loan Mortgage Corp., 1.250% to 11.000%, due 05/12/09 to 01/01/48; Federal National Mortgage Association, 3.050% to 16.000%, due 04/01/09 to 02/01/49; Government National Mortgage Association, 5.500% due 07/20/38; Tennessee Valley Authority, 5.500% to 6.790%, due 05/23/12 to 07/18/17; U.S. Treasury Bills, 0.000%, due 12/17/09; U.S. Treasury Notes, 4.750%, due 02/15/10. The aggregate market value of the collateral, including accrued interest, was $17,671,414,639.

Treasury Inflation-Protected Securities — The Funds may invest in Treasury Inflation-Protected Securities (“TIPS”), including structured bonds in which the principal amount is adjusted daily to keep pace with inflation, as measured by the U.S. Consumer Pricing Index for Urban Consumers. The adjustments to principal due to inflation/deflation are reflected as increases/decreases to interest income with a corresponding adjustment to cost. Such adjustments may have a significant impact on the Funds’ distributions and may result in a return of capital to shareholders. The repayment of the original bond principal upon maturity is 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 and the terms and conditions contained therein, the Funds (except VIT Money Market Fund) may lend their securities through a securities lending agent, Goldman Sachs Agency Lending (“GSAL”), a wholly-owned subsidiary of Goldman Sachs, to certain qualified borrowers including Goldman Sachs and affiliates. In accordance with the Funds’ securities lending procedures, the Funds receive cash collateral at least equal to the market value of 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 may experience delay in the recovery of their securities or incur a loss should the borrower of the securities breach its agreement with the Funds or become insolvent.

The Capital Growth, Growth and Income, Growth Opportunities, Mid Cap Value and Strategic International Equity Funds invest the cash collateral received in connection with securities lending transactions in the Enhanced Portfolio of Boston Global Investment Trust (“Enhanced Portfolio”), a Delaware statutory trust. The Structured Small Cap Equity and Structured U.S. Equity Funds invest in the Enhanced Portfolio II of Boston Global Investment Trust (“Enhanced Portfolio II”), a Delaware statutory trust. The Enhanced Portfolio and Enhanced Portfolio II, deemed affiliates of the Trust, are exempt from registration under Section 3(c)(7) of the Act and is managed by GSAM, for which GSAM may receive an investment advisory fee of up to 0.10% on an annualized basis of the average daily net assets of the Enhanced Portfolio and Enhanced Portfolio II. The Enhanced Portfolio and Enhanced Portfolio II primarily invest in short-term investments, but are not “money market funds” subject to the requirements of Rule 2a-7 of the Act. The Funds’ investment of cash collateral in the Enhanced Portfolio or Enhanced Portfolio II is subject to a net asset value that may fall or rise due to market and credit conditions.

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

Market and Credit Risks — In the normal course of business, the Funds trade financial instruments and enter into financial transactions where risk of potential loss exists due to changes in the market (market risk). Additionally, the Funds may also be exposed to credit risk in the event that an issuer fails to perform or that an institution or entity with which the Funds have unsettled or open transactions defaults.

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

Item 2. Controls and Procedures.

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

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

Item 3. Exhibits.

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

SIGNATURES

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


(Registrant)	Goldman Sachs Variable Insurance Trust

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

Date May 29, 2009

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


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

Date May 29, 2009

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

Date May 29, 2009

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


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


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



Tax Cost	$	385,852,850

Gross unrealized gain		3,113,259
Gross unrealized loss		(110,834,131	)

Net unrealized security loss	$	(107,720,872	)



Tax Cost	$	227,835,563

Gross unrealized gain		20,660,851
Gross unrealized loss		(91,377,082	)

Net unrealized security loss	$	(70,716,231	)



Investment Abbreviations:
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
STRIPS		— Separate Trading of Registered Interest and Principal of Securities
TIPS		— Treasury Inflation-Protected Securities



Tax Cost	$	553,276,367

Gross unrealized gain		4,794,039
Gross unrealized loss		(118,520,589	)

Net unrealized security loss	$	(113,726,550	)



Tax Cost	$	153,838,827

Gross unrealized gain		2,454,455
Gross unrealized loss		(46,118,945	)

Net unrealized security loss	$	(43,664,490	)



Tax Cost	$	1,081,920,416

Gross unrealized gain		12,305,026
Gross unrealized loss		(229,879,322	)

Net unrealized security loss	$	(217,574,296	)