UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-08361

Goldman Sachs Variable Insurance Trust

(Exact name of registrant as specified in charter)

71 South Wacker Drive, Chicago, Illinois 60606

(Address of principal executive offices)                                                             (Zip code)

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

(Name and address of agent for service)

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

Date of fiscal year end:       December 31

Date of reporting period: September 30, 2009

Item 1. Schedule of Investments.

GOLDMAN SACHS VARIABLE INSURANCE TRUST CAPITAL GROWTH FUND

Schedule of Investments

September 30, 2009 (Unaudited)

Shares		Description	Value
Common Stocks — 98.4%
Banks — 1.0%
	220,200	People’s United Financial, Inc.	$	3,426,312
Capital Goods — 1.9%
	78,494	ABB Ltd. ADR*		1,573,020
	20,300	Danaher Corp.		1,366,596
	53,130	United Technologies Corp.		3,237,211
				6,176,827
Commercial & Professional Services — 1.4%
	168,500	Iron Mountain, Inc.*		4,492,210
Consumer Durables & Apparel — 1.2%
	119,000	Coach, Inc.		3,917,480
Consumer Services — 3.1%
	129,505	Marriott International, Inc. Class A(a)		3,573,043
	55,900	McDonald’s Corp.		3,190,213
	107,300	Starwood Hotels & Resorts Worldwide, Inc.		3,544,119
				10,307,375
Diversified Financials — 6.4%
	24,200	CME Group, Inc.		7,458,198
	151,900	Morgan Stanley		4,690,672
	32,200	Northern Trust Corp.		1,872,752
	184,900	SLM Corp.*		1,612,328
	283,130	The Charles Schwab Corp.		5,421,939
				21,055,889
Energy — 7.0%
	61,000	Cameron International Corp.*		2,307,020
	18,300	EOG Resources, Inc.		1,528,233
	106,600	Halliburton Co.		2,890,992
	21,200	Occidental Petroleum Corp.		1,662,080
	166,440	Schlumberger Ltd.		9,919,824
	132,040	Suncor Energy, Inc.		4,563,302
				22,871,451
Food & Staples Retailing — 1.7%
	96,500	Costco Wholesale Corp.		5,448,390
Food, Beverage & Tobacco — 4.6%
	92,100	Kraft Foods, Inc. Class A		2,419,467
	133,200	PepsiCo, Inc.		7,813,512
	88,300	The Coca-Cola Co.		4,741,710
				14,974,689
Health Care Equipment & Services — 7.8%
	128,000	Baxter International, Inc.		7,297,280
	39,600	C.R. Bard, Inc.		3,112,956
	87,900	Express Scripts, Inc.*		6,819,282
	155,900	St. Jude Medical, Inc.*		6,081,659
	43,100	Zimmer Holdings, Inc.*		2,303,695
				25,614,872
Household & Personal Products — 4.3%
	109,700	Avon Products, Inc.		3,725,412
	178,900	The Procter & Gamble Co.		10,361,888
				14,087,300
Materials — 2.6%
	51,200	Monsanto Co.		3,962,880
	55,400	Praxair, Inc.		4,525,626
				8,488,506

Shares		Description	Value
Common Stocks — (continued)
Media — 1.6%
	145,200	Comcast Corp. Class A	$	2,452,428
	96,874	Viacom, Inc. Class B*		2,716,347
				5,168,775
Pharmaceuticals, Biotechnology & Life Sciences — 10.8%
	46,900	Biogen Idec, Inc.*		2,369,388
	99,628	Charles River Laboratories International, Inc.*(a)		3,684,243
	120,953	Gilead Sciences, Inc.*		5,633,991
	162,300	Johnson & Johnson		9,882,447
	156,900	Merck & Co., Inc.		4,962,747
	36,800	Shire PLC ADR		1,924,272
	57,800	Teva Pharmaceutical Industries Ltd. ADR		2,922,368
	96,300	Thermo Fisher Scientific, Inc.*		4,205,421
				35,584,877
Real Estate — 2.1%
	586,400	CB Richard Ellis Group, Inc. Class A*		6,884,336
Retailing — 5.5%
	312,840	Lowe’s Companies, Inc.		6,550,869
	189,300	Staples, Inc.		4,395,546
	149,000	Target Corp.		6,955,320
				17,901,735
Semiconductors & Semiconductor Equipment — 1.6%
	169,900	Broadcom Corp. Class A*		5,214,231
Software & Services — 17.1%
	110,440	Cognizant Technology Solutions Corp. Class A*		4,269,610
	194,825	Electronic Arts, Inc.*		3,711,416
	82,700	Equinix, Inc.*(a)		7,608,400
	80,200	Global Payments, Inc.		3,745,340
	11,308	Google, Inc. Class A*		5,607,072
	474,368	Microsoft Corp.		12,281,388
	380,700	Oracle Corp.		7,933,788
	262,991	The Western Union Co.		4,975,790
	83,900	Visa, Inc. Class A		5,798,329
				55,931,133
Technology Hardware & Equipment — 12.4%
	98,000	Amphenol Corp. Class A		3,692,640
	77,700	Apple, Inc.*		14,403,249
	559,890	Cisco Systems, Inc.*		13,179,811
	211,891	QUALCOMM, Inc.		9,530,857
				40,806,557
Telecommunication Services* — 3.7%
	244,190	American Tower Corp. Class A		8,888,516
	105,950	Crown Castle International Corp.		3,322,592
				12,211,108
Transportation — 0.6%
	24,400	Burlington Northern Santa Fe Corp.		1,947,852
TOTAL COMMON STOCKS			$	322,511,905

GOLDMAN SACHS VARIABLE INSURANCE TRUST CAPITAL GROWTH FUND

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

Shares		Rate			Value
Investment Company(b) — 2.8%
JPMorgan U.S. Government Money Market Fund — Capital Shares
	9,319,083		0.131	%	$	9,319,083
TOTAL INVESTMENTS BEFORE SECURITIES LENDING REINVESTMENT VEHICLE					$	331,830,988
Securities Lending Reinvestment Vehicle(b)(c) — 1.2%
Boston Global Investment Trust — Enhanced Portfolio
	3,823,241		0.177	%	$	3,819,418
TOTAL INVESTMENTS — 102.4%					$	335,650,406
LIABILITIES IN EXCESS OF OTHER ASSETS — (2.4)%						(7,873,199	)
NET ASSETS — 100.0%					$	327,777,207

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

* Non-income producing security.

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

(b) Variable rate security. Interest rate disclosed is that which is in effect at September 30, 2009.

(c) Represents an affiliated issuer.

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 CAPITAL GROWTH FUND

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

TAX INFORMATION — At September 30, 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	$	318,885,797
Gross unrealized gain		30,546,776
Gross unrealized loss		(13,782,167	)
Net unrealized security gain	$	16,764,609

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 CORE FIXED INCOME FUND

Schedule of Investments

September 30, 2009 (Unaudited)

Principal		Interest			Maturity
Amount		Rate			Date	Value
Corporate Obligations — 20.7%
Banks — 5.3%
ANZ Capital Trust I(a)(b)
$	500,000		4.484	%	01/29/49	$	495,506
Bank of America Corp.
	200,000		5.750		12/01/17		199,878
	175,000		7.625		06/01/19		197,556
Bear Stearns Companies, Inc.
	550,000		6.400		10/02/17		596,200
	950,000		7.250		02/01/18		1,083,147
Citigroup, Inc.
	300,000		5.875		05/29/37		260,661
	100,000		6.875		03/05/38		98,491
JPMorgan Chase Bank NA
	400,000		6.000		10/01/17		420,700
Merrill Lynch & Co., Inc.
	450,000		5.450		02/05/13		468,972
	325,000		6.400		08/28/17		329,148
	600,000		6.875		04/25/18		628,271
Morgan Stanley & Co.
	275,000		5.750		08/31/12		293,807
	400,000		5.950		12/28/17		410,180
	725,000		6.625		04/01/18		765,693
	100,000		5.625		09/23/19		98,775
PNC Bank NA
	325,000		6.875		04/01/18		347,485
Resona Bank Ltd.(a)(b)(c)
	1,250,000		5.850		09/29/49		1,081,250
Royal Bank of Scotland Group PLC(a)
	425,000		4.875		08/25/14		431,532
Santander Issuances SA(a)(c)
	200,000		5.805		06/20/16		178,000
US Bank NA(c)
	250,000		4.375		02/28/17		339,987
Wachovia Bank NA
	250,000		7.800		08/18/10		263,986
	675,000		6.600		01/15/38		740,938
Wells Fargo Capital XIII(b)(c)
	125,000		7.700		12/29/49		111,250
							9,841,413
Building Materials — 0.1%
Holcim US Finance Sarl & Companhia SCS(a)
	175,000		6.000		12/30/19		177,129
Chemicals — 0.6%
Airgas, Inc.
	425,000		4.500		09/15/14		434,088
Dow Chemical Co.
	325,000		7.600		05/15/14		359,531
	350,000		5.900		02/15/15		357,719
							1,151,338
Consumer Products — 0.2%
Whirlpool Corp.
	125,000		8.000		05/01/12		137,034
	175,000		8.600		05/01/14		195,063
							332,097

Principal		Interest			Maturity
Amount		Rate			Date	Value
Corporate Obligations — (continued)
Electric — 2.1%
Arizona Public Service Co.
$	250,000		6.375	%	10/15/11	$	262,950
	225,000		6.250		08/01/16		233,084
CenterPoint Energy, Inc. Series B
	1,000,000		7.250		09/01/10		1,026,678
Commonwealth Edison Co.
	250,000		5.875		02/01/33		264,002
	300,000		5.900		03/15/36		318,827
Enel Finance International SA(a)
	475,000		5.125		10/07/19		472,910
FirstEnergy Corp. Series C
	275,000		7.375		11/15/31		308,316
MidAmerican Energy Holdings Co.
	450,000		6.125		04/01/36		479,356
Progress Energy, Inc.
	200,000		5.625		01/15/16		213,762
	350,000		7.000		10/30/31		406,761
							3,986,646
Energy — 1.1%
Canadian Natural Resources Ltd.
	50,000		5.850		02/01/35		50,342
	400,000		6.500		02/15/37		435,389
Dolphin Energy Ltd.(a)
	240,000		5.888		06/15/19		243,000
Ras Laffan Liquefied Natural Gas Co. Ltd. III(a)
	250,000		5.500		09/30/14		265,406
Suncor Energy, Inc.
	250,000		6.100		06/01/18		260,942
Transocean, Inc.
	375,000		6.800		03/15/38		429,285
XTO Energy, Inc.
	325,000		6.500		12/15/18		358,788
							2,043,152
Environmental — 0.4%
Republic Services, Inc.(a)
	225,000		5.500		09/15/19		230,041
Waste Management, Inc.
	400,000		7.375		03/11/19		465,497
							695,538
Financial Companies — 0.4%
International Lease Finance Corp.
	275,000		4.950		02/01/11		251,809
SLM Corp.
	450,000		5.400		10/25/11		415,224
							667,033
Food & Beverage — 0.2%
Anheuser-Busch InBev Worldwide, Inc.(a)
	350,000		7.750		01/15/19		414,141
Healthcare — 0.8%
Agilent Technologies, Inc.
	550,000		5.500		09/14/15		561,464
CareFusion Corp.(a)
	525,000		6.375		08/01/19		569,393
Roche Holdings, Inc.(a)
	400,000		6.000		03/01/19		445,256
							1,576,113

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

Principal		Interest			Maturity
Amount		Rate			Date	Value
Corporate Obligations — (continued)
Life Insurance — 0.6%
MetLife Capital Trust X(a)(b)(c)
$	300,000		9.250	%	04/08/38	$	312,000
Phoenix Life Insurance Co.(a)(b)
	450,000		7.150		12/15/34		106,381
Swiss Reinsurance Capital I LP(a)(b)(c)
	600,000		6.854		05/29/49		450,000
Symetra Financial Corp.(a)(c)
	325,000		8.300		10/15/37		201,500
							1,069,881
Media Cable — 1.6%
Comcast Corp.
	625,000		6.450		03/15/37		662,829
COX Communications, Inc.
	1,075,000		4.625		01/15/10		1,084,803
DirecTV Holdings LLC(a)
	200,000		5.875		10/01/19		199,498
Rogers Cable, Inc.
	200,000		7.875		05/01/12		225,193
Time Warner Cable, Inc.
	425,000		5.400		07/02/12		454,122
Time Warner Entertainment Co. LP
	225,000		8.375		03/15/23		264,733
							2,891,178
Metals and Mining — 0.3%
Anglo American Capital PLC(a)
	225,000		9.375		04/08/19		273,375
ArcelorMittal
	375,000		6.125		06/01/18		369,434
							642,809
Pharmaceuticals — 0.2%
Watson Pharmaceuticals, Inc.
	325,000		5.000		08/15/14		331,470
Pipelines — 2.3%
Boardwalk Pipelines LP
	575,000		5.875		11/15/16		583,868
DCP Midstream LLC(a)
	280,000		9.750		03/15/19		334,494
Energy Transfer Partners LP
	625,000		5.950		02/01/15		657,845
	125,000		6.700		07/01/18		133,762
Enterprise Products Operating LP Series B
	450,000		5.600		10/15/14		475,841
	325,000		5.000		03/01/15		331,639
Tennessee Gas Pipeline Co.
	150,000		8.000		02/01/16		170,599
	200,000		8.375		06/15/32		240,119
TEPPCO Partners LP
	550,000		6.650		04/15/18		596,088
The Williams Companies, Inc.
	325,000		8.750		03/15/32		374,746
TransCanada Pipelines Ltd.(c)
	325,000		6.350		05/15/67		282,750
							4,181,751

Principal		Interest			Maturity
Amount		Rate			Date	Value
Corporate Obligations — (continued)
Property/Casualty Insurance — 1.7%
Arch Capital Group Ltd.
$	350,000		7.350	%	05/01/34	$	325,753
Aspen Insurance Holdings Ltd.
	350,000		6.000		08/15/14		350,593
Endurance Specialty Holdings Ltd.
	375,000		6.150		10/15/15		392,879
Marsh & McClennan Companies, Inc.
	600,000		5.150		09/15/10		608,013
QBE Insurance Group Ltd.(a)
	225,000		9.750		03/14/14		255,398
White Mountains Reinsurance Group Ltd.(a)
	600,000		6.375		03/20/17		545,448
Willis North America, Inc.
	175,000		7.000		09/29/19		178,687
ZFS Finance USA Trust IV(a)(b)(c)
	675,000		5.875		05/09/32		547,520
							3,204,291
REITs — 0.6%
Simon Property Group LP
	525,000		6.125		05/30/18		528,977
Westfield Capital Corp. Ltd.(a)
	225,000		4.375		11/15/10		228,300
Westfield Group(a)
	125,000		5.400		10/01/12		128,412
	125,000		7.500		06/02/14		134,713
							1,020,402
Retailers — 0.6%
AutoZone, Inc.
	475,000		5.750		01/15/15		505,628
CVS/Caremark Corp.
	425,000		5.750		06/01/17		454,965
Marks & Spencer PLC(a)
	200,000		7.125		12/01/37		189,475
							1,150,068
Tobacco — 0.5%
Altria Group, Inc.
	275,000		9.700		11/10/18		340,579
BAT International Finance PLC(a)
	300,000		9.500		11/15/18		389,108
Philip Morris International, Inc.
	250,000		5.650		05/16/18		266,104
							995,791
Wireless Telecommunications — 0.6%
New Cingular Wireless Services, Inc.
	675,000		7.875		03/01/11		732,461
	300,000		8.750		03/01/31		396,616
							1,129,077
Wirelines Telecommunications — 0.5%
Telecom Italia Capital SA
	225,000		4.000		01/15/10		226,539
	300,000		4.875		10/01/10		307,256
Telefonica Europe BV
	300,000		7.750		09/15/10		318,000

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

Principal		Interest			Maturity
Amount		Rate			Date	Value
Corporate Obligations — (continued)
Wirelines Telecommunications — (continued)
Verizon Communications, Inc.
$	150,000		6.400	%	02/15/38	$	161,399
							1,013,194
TOTAL CORPORATE OBLIGATIONS						$	38,514,512
Mortgage-Backed Obligations — 59.8%
Adjustable Rate FHLMC(c) — 2.5%
$	2,572,831		4.846	%	09/01/35	$	2,662,826
	1,863,540		4.707		10/01/35		1,956,364
							4,619,190
Adjustable Rate FNMA(c) — 3.0%
	800,763		3.335		05/01/33		821,443
	1,089,716		3.073		05/01/35		1,105,207
	1,922,777		5.148		09/01/35		1,991,595
	1,573,904		5.105		12/01/35		1,644,750
							5,562,995
Adjustable Rate Non-Agency(c) — 11.9%
American Home Mortgage Assets Trust Series 2007-1, Class A1
	2,362,045		1.601		02/25/47		1,061,339
Bear Stearns Adjustable Rate Mortgage Trust Series 2004-1, Class 21A1
	40,053		4.217		04/25/34		33,729
Bear Stearns Adjustable Rate Mortgage Trust Series 2005-3, Class 2A1
	99,068		5.086		06/25/35		74,773
Bear Stearns Mortgage Funding Trust Series 2006-AR1, Class 2A1
	1,560,717		0.466		08/25/36		861,946
Countrywide Alternative Loan Trust Series 2005-38, Class A1
	316,690		2.401		09/25/35		178,724
Countrywide Alternative Loan Trust Series 2006-OA10, Class 4A1
	1,773,737		0.436		08/25/46		892,101
Countrywide Alternative Loan Trust Series 2006-OA16, Class A2
	3,281,404		0.436		10/25/46		1,663,620
Countrywide Home Loan Mortgage Pass-Through Trust Series 2003-52, Class A1
	139,626		4.959		02/19/34		117,143
Countrywide Home Loan Mortgage Pass-Through Trust Series 2004-HYB6, Class A2
	25,909		4.377		11/20/34		19,707
Countrywide Home Loan Mortgage Pass-Through Trust Series 2005-HYB4, Class 2A1
	144,021		4.864		08/20/35		106,956
Downey Savings & Loan Association Mortgage Loan Trust Series 2006-AR2, Class 2A1A
	1,383,384		0.446		11/19/37		676,188
Harborview Mortgage Loan Trust Series 2005-14, Class 5A1A
	661,047		5.726		12/19/35		425,883
Indymac Index Mortgage Loan Trust Series 2005-AR15, Class A1
	584,083		5.285		09/25/35		415,332

Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
Adjustable Rate Non-Agency(c) — (continued)
Indymac Index Mortgage Loan Trust Series 2006-AR2, Class 1A1A
$	1,230,798		0.466	%	04/25/46	$	606,685
Indymac Index Mortgage Loan Trust Series 2006-AR4, Class A1A
	1,255,401		0.456		05/25/46		605,316
J.P. Morgan Mortgage Trust Series 2007-A1, Class 2A2
	583,459		4.279		07/25/35		526,513
Lehman XS Trust Series 2005-7N, Class 1A1A
	509,538		0.516		12/25/35		311,555
Lehman XS Trust Series 2007-16N, Class 2A2
	900,090		1.096		09/25/47		425,024
Luminent Mortgage Trust Series 2006-2, Class A1A
	1,342,706		0.446		02/25/46		699,497
Luminent Mortgage Trust Series 2006-5, Class A1A
	597,144		0.436		07/25/36		311,346
Master Adjustable Rate Mortgages Trust Series 2006-OA2, Class 4A1A
	713,593		1.751		12/25/46		225,132
Merrill Lynch Mortgage Investors, Inc. Series 2005-A9, Class 2A1C
	3,000,000		5.149		12/25/35		1,801,051
Residential Accredit Loans, Inc. Series 2005-QO5, Class A1
	997,500		1.901		01/25/46		538,553
Residential Accredit Loans, Inc. Series 2007-QH9, Class A1
	2,784,271		6.521		11/25/37		1,215,852
Structured Adjustable Rate Mortgage Loan Trust Series 2004-5, Class 3A1
	58,762		3.734		05/25/34		49,766
Structured Adjustable Rate Mortgage Loan Trust Series 2004-12, Class 3A2
	26,994		3.396		09/25/34		22,691
Structured Asset Mortgage Investments, Inc. Series 2007-AR6, Class A1
	2,138,161		2.401		08/25/47		1,114,029
Thornburg Mortgage Securities Trust Series 2006-4, Class A2B
	1,946,143		0.366		07/25/36		1,810,238
Washington Mutual Alternative Mortgage Pass-Through Certificates Series 2006-AR9, Class 2A
	2,315,119		1.741		11/25/46		941,831
Washington Mutual Mortgage Pass-Through Certificates Series 2004-AR3, Class A2
	39,337		3.137		06/25/34		36,793
Washington Mutual Mortgage Pass-Through Certificates Series 2006-AR11, Class 1A
	2,448,837		1.861		09/25/46		1,290,797
Washington Mutual Mortgage Pass-Through Certificates Series 2006-AR11, Class 3A1A
	689,927		1.821		09/25/46		324,727
Washington Mutual Mortgage Pass-Through Certificates Series 2007-OA2, Class 1A
	742,551		1.601		03/25/47		385,468
Wells Fargo Alternative Loan Trust Series 2007-PA6, Class A1
	2,266,395		6.582		12/28/37		1,419,277

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
Adjustable Rate Non-Agency(c) — (continued)
Wells Fargo Mortgage Backed Securities Trust Series 2006-AR10, Class 5A3
$	1,105,472		5.607	%	07/25/36	$	895,754
							22,085,336
Collateralized Mortgage Obligations — 4.4%
Interest Only(c)(d) — 0.0%
FNMA Series 2004-71, Class DI
	479,252		0.000		04/25/34		10,460
Planned Amortization Class — 1.7%
FNMA Series 2003-92, Class PD
	3,000,000		4.500		03/25/17		3,119,663
Regular Floater(c) — 2.7%
FHLMC Series 2005-3038, Class XA(e)
	49,318		0.000		09/15/35		48,191
FHLMC Series 2006-3167, Class X(e)
	36,734		0.000		06/15/36		35,546
FHLMC Series 2007-3275, Class UF(e)
	51,102		0.000		02/15/37		49,362
FHLMC Series 2007-3307, Class FC
	1,129,845		0.643		07/15/34		1,087,383
FHLMC Series 2007-3342, Class FT
	1,616,773		0.693		07/15/37		1,579,449
FNMA Series 2006-68, Class FM
	830,341		0.696		08/25/36		810,243
FNMA Series 2006-81, Class LF(e)
	44,921		0.000		09/25/36		44,604
FNMA Series 2007-4, Class DF
	1,321,286		0.691		02/25/37		1,284,897
FNMA Series 2007-56, Class GY(e)
	63,850		0.000		06/25/37		67,192
							5,006,867
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS						$	8,136,990
Commercial Mortgage-Backed Securities — 6.4%
Adjustable Rate Non-Agency(c) — 2.2%
Wachovia Bank Commercial Mortgage Trust Series 2005-C21, Class A4
$	3,000,000		5.384	%	10/15/44	$	2,962,173
Wachovia Bank Commercial Mortgage Trust Series 2006-C25, Class A5
	1,200,000		5.926		05/15/43		1,137,122
							4,099,295
Sequential Fixed Rate — 4.2%
CWCapital Cobalt Ltd. Series 2006-C1, Class A4
	1,052,000		5.223		08/15/48		858,457
GE Capital Commercial Mortgage Corp. Series 2002-1A, Class A3
	2,700,000		6.269		12/10/35		2,841,892
J.P. Morgan Chase Commercial Mortgage Securities Corp. Series 2005-LDP2, Class A4
	1,500,000		4.738		07/15/42		1,428,215

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	$	2,746,497
							7,875,061
TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES						$	11,974,356
Federal Agencies — 31.6%
FHLMC — 12.4%
$	13,825		7.000	%	08/01/10	$	14,147
	8,498		7.000		11/01/11		8,864
	8,310		7.000		12/01/11		8,669
	52,429		7.500		06/01/15		56,762
	186,141		7.000		07/01/16		199,741
	974,985		5.500		02/01/18		1,043,914
	72,085		5.500		04/01/18		77,181
	140,734		4.500		05/01/18		148,638
	30,873		4.500		06/01/18		32,607
	122,961		4.500		09/01/18		129,867
	131,079		5.500		09/01/18		140,346
	97,464		4.500		10/01/18		102,937
	98,840		4.500		11/01/18		104,390
	689,642		4.500		12/01/18		728,370
	37,938		4.500		01/01/19		40,068
	70,551		4.500		03/01/19		74,365
	17,517		9.500		08/01/19		19,308
	842		9.500		08/01/20		930
	259,440		6.500		10/01/20		281,507
	80,152		6.000		03/01/29		85,542
	918		6.000		04/01/29		979
	54,947		7.500		12/01/29		60,282
	972		7.500		11/01/30		1,066
	501,476		7.000		05/01/32		546,331
	1,907		6.000		08/01/32		2,029
	296,879		7.000		12/01/32		323,434
	56,014		5.000		12/01/35		58,166
	22,022		6.000		11/01/36		23,384
	68,809		6.000		09/01/37		73,419
	101,118		6.000		11/01/37		107,323
	98,259		6.000		02/01/38		104,832
	87,897		5.000		04/01/38		91,179
	22,880		6.000		04/01/38		24,284
	495,718		5.500		06/01/38		519,572
	372,965		6.000		07/01/38		397,418
	7,171,900		6.000		08/01/38		7,612,019
	19,549		6.000		09/01/38		20,736
	67,990		6.000		10/01/38		72,513
	24,200		6.000		11/01/38		25,753
	23,810		6.000		02/01/39		25,256
	487,313		5.000		03/01/39		505,587
	1,354,901		5.000		04/01/39		1,405,710
	427,526		5.000		05/01/39		444,226
	5,335,654		5.000		06/01/39		5,527,984
	696,356		5.000		07/01/39		722,780
	64,086		5.000		08/01/39		66,589

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
FHLMC — (continued)
$	1,000,000		4.500	%	09/01/39	$	1,013,021
							23,074,025
FNMA — 17.6%
	23,971		6.000		08/01/13		25,728
	113,773		7.500		08/01/15		123,528
	51,298		6.000		04/01/16		55,040
	118,188		6.500		05/01/16		126,549
	176,597		6.500		09/01/16		189,090
	222,387		6.500		11/01/16		238,119
	53,933		6.000		12/01/16		57,867
	447,751		6.000		02/01/17		480,198
	63,165		7.500		04/01/17		67,161
	704,411		6.000		10/01/17		755,458
	759,220		5.500		02/01/18		812,719
	924,481		5.000		05/01/18		982,762
	67,012		6.500		08/01/18		72,491
	306,796		7.000		08/01/18		340,605
	2,914,518		4.000		09/01/18		3,035,291
	466,083		5.000		04/01/19		493,668
	833,694		4.500		05/01/23		864,921
	14,960		5.000		06/01/23		15,697
	1,062,606		5.500		09/01/23		1,129,616
	175,816		5.500		10/01/23		187,161
	499		7.000		07/01/25		548
	8,387		7.000		11/01/25		9,218
	59,573		9.000		11/01/25		68,074
	254,629		7.000		08/01/26		281,094
	3,947		7.000		08/01/27		4,356
	18,533		7.000		09/01/27		20,451
	105,777		6.000		12/01/27		112,411
	641		7.000		01/01/28		707
	528,525		6.000		02/01/29		564,515
	481,191		6.000		06/01/29		513,908
	5,936		7.000		09/01/29		6,540
	76,594		8.000		10/01/29		86,796
	33,527		7.000		12/01/29		36,943
	1,588		8.500		04/01/30		1,818
	7,928		8.000		05/01/30		8,657
	459		8.500		06/01/30		526
	34,996		7.000		05/01/32		38,462
	246,712		7.000		06/01/32		270,867
	308,213		7.000		08/01/32		338,390
	77,829		8.000		08/01/32		88,248
	175,629		5.500		03/01/33		184,589
	145,945		5.500		05/01/33		153,391
	25,219		5.500		06/01/33		26,505
	296,251		5.500		07/01/33		311,365
	33,378		5.000		08/01/33		34,618
	4,191		5.500		09/01/33		4,418
	5,298		5.500		02/01/34		5,584
	848		5.500		04/01/34		895
	147,719		5.500		06/01/34		155,255

Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
FNMA — (continued)
$	57,237		5.500	%	12/01/34	$	60,293
	393,973		6.000		04/01/35		419,550
	19,207		5.000		09/01/35		19,891
	7,056		5.500		09/01/35		7,430
	20,134		6.000		09/01/36		21,394
	18,548		6.000		10/01/36		19,709
	197,262		6.000		11/01/36		209,391
	2,754		5.500		12/01/36		2,895
	18,143		5.500		01/01/37		19,072
	932		5.500		02/01/37		980
	4,821		5.500		03/01/37		5,068
	111,920		5.500		04/01/37		117,618
	411,624		5.500		05/01/37		432,620
	10,159		5.500		06/01/37		10,676
	63,240		6.000		06/01/37		67,287
	42,260		5.500		07/01/37		44,287
	19,322		6.000		07/01/37		20,559
	66,069		5.500		08/01/37		69,201
	76,291		6.000		08/01/37		80,952
	90,310		6.000		09/01/37		95,820
	33,992		5.500		10/01/37		35,722
	46,679		6.000		10/01/37		49,605
	67,931		6.000		11/01/37		72,161
	123,564		6.000		12/01/37		131,798
	54,996		5.500		01/01/38		57,803
	280,060		5.500		02/01/38		294,351
	201,327		6.000		02/01/38		214,209
	680,595		5.500		03/01/38		714,981
	897,785		6.000		03/01/38		952,914
	670,817		5.500		04/01/38		705,666
	230,547		5.500		05/01/38		243,259
	58,832		6.000		05/01/38		62,743
	1,442,246		5.500		06/01/38		1,520,716
	85,317		6.000		06/01/38		90,901
	1,301,900		5.500		07/01/38		1,373,572
	150,069		6.000		07/01/38		159,926
	444,606		5.500		08/01/38		467,879
	48,379		6.000		08/01/38		51,580
	514,841		5.500		09/01/38		542,285
	413,597		6.000		09/01/38		438,574
	342,423		5.500		10/01/38		360,392
	71,524		6.000		10/01/38		76,256
	239,862		5.500		11/01/38		252,945
	72,056		6.000		11/01/38		76,825
	126,590		5.500		12/01/38		133,172
	1,779,883		5.000		01/01/39		1,848,624
	184,151		5.500		01/01/39		193,725
	24,892		6.000		01/01/39		26,395
	55,178		5.500		02/01/39		58,029
	511,455		6.000		02/01/39		542,662
	991,522		4.500		03/01/39		991,728
	9,228		5.500		03/01/39		9,708
	634,430		5.000		05/01/39		658,624
	69,307		4.500		06/01/39		70,433
	114,789		5.000		06/01/39		119,076

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
FNMA — (continued)
$	812,019		5.000	%	07/01/39	$	842,613
	129,930		4.500		08/01/39		131,979
	25,041		5.000		08/01/39		25,976
	2,000,000		4.500		TBA-30yr(f)		2,025,625
	1,000,000		6.000		TBA-30yr(f)		1,047,891
							32,780,834
GNMA — 1.6%
	15,392		7.000		03/15/12		15,602
	20,383		7.000		10/15/25		22,452
	24,569		7.000		11/15/25		27,064
	4,224		7.000		02/15/26		4,652
	16,948		7.000		04/15/26		18,665
	7,050		7.000		03/15/27		7,753
	8,319		7.000		10/15/27		9,148
	147,638		7.000		11/15/27		162,355
	6,808		7.000		01/15/28		7,487
	47,387		7.000		02/15/28		52,112
	16,674		7.000		03/15/28		18,337
	4,297		7.000		04/15/28		4,725
	960		7.000		05/15/28		1,056
	19,155		7.000		06/15/28		21,065
	37,824		7.000		07/15/28		41,594
	79,725		7.000		08/15/28		87,674
	39,990		7.000		09/15/28		43,977
	4,578		7.000		11/15/28		5,034
	5,628		7.500		11/15/30		6,081
	3,630		7.000		10/15/31		3,991
	651		7.000		12/15/31		715
	36,837		7.500		10/15/32		41,317
	1,036,910		6.000		08/20/34		1,105,159
	235,662		6.000		08/15/38		249,286
	324,513		6.000		09/15/38		343,274
	268,525		6.000		12/15/38		284,280
	83,788		5.000		05/15/39		87,192
	314,965		5.000		06/15/39		327,823
							2,999,870
TOTAL FEDERAL AGENCIES						$	58,854,729
TOTAL MORTGAGE-BACKED OBLIGATIONS						$	111,233,596
Agency Debentures — 1.6%
FNMA(g)
$	100,000		0.000	%	10/09/19	$	55,895
Tennessee Valley Authority
	700,000		4.375		06/15/15		745,482
Tennessee Valley Authority(h)
	2,000,000		5.375		04/01/56		2,129,048
TOTAL AGENCY DEBENTURES						$	2,930,425
Asset-Backed Securities — 0.6%
Home Equity — 0.6%
GMAC Mortgage Corp. Loan Trust Series 2007-HE3, Class 1A1
$	215,060		7.000	%	09/25/37	$	127,405

Principal		Interest			Maturity
Amount		Rate			Date	Value
Asset-Backed Securities — (continued)
Home Equity — (continued)
GMAC Mortgage Corp. Loan Trust Series 2007-HE3, Class 2A1
$	240,743		7.000	%	09/25/37	$	99,892
HFC Home Equity Loan Asset Backed Certificates Series 2007-3, Class APT(c)
	996,475		1.446		11/20/36		809,635
TOTAL ASSET-BACKED SECURITIES						$	1,036,932
Foreign Debt Obligations — 4.1%
Sovereign — 0.5%
Republic of Brazil Government Bond
$	220,000		8.250	%	01/20/34	$	291,214
	200,000		7.125		01/20/37		238,500
Province of Ontario, Canada
	300,000		4.100		06/16/14		317,582
State of Qatar Government Bond
	260,000		5.150		04/09/14		273,390
							1,120,686
Supranational — 3.6%
Asian Development Bank
	5,000,000		1.000		10/01/15		4,399,675
European Investment Bank
	1,800,000		3.000		04/08/14		1,836,732
Inter-American Development Bank
	300,000		3.000		04/22/14		306,406
							6,542,813
TOTAL FOREIGN DEBT OBLIGATIONS						$	7,663,499
Government Guarantee Obligations — 8.6%
ANZ National (International) Ltd.(a)(i)
$	1,700,000		3.250	%	04/02/12	$	1,759,243
General Electric Capital Corp.(j)
	2,400,000		2.000		09/28/12		2,413,375
	1,800,000		2.625		12/28/12		1,845,810
Landwirtschaftliche Rentenbank(i)
	1,400,000		4.125		07/15/13		1,474,746
LeasePlan Corp. NV(a)(i)
	1,000,000		3.000		05/07/12		1,018,817
Royal Bank of Scotland Group PLC(a)(i)
	1,800,000		2.625		05/11/12		1,813,302
Societe Financement de l’Economie Francaise(a)(i)
	2,300,000		3.375		05/05/14		2,373,788
	2,100,000		2.875		09/22/14		2,104,305
Svensk Exportkredit AB(i)
	1,100,000		3.250		09/16/14		1,106,698
TOTAL GOVERNMENT GUARANTEE OBLIGATIONS						$	15,910,084

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

Principal		Interest			Maturity
Amount		Rate			Date	Value
Municipal Debt Obligations — 0.4%
California — 0.4%
California State Various Purpose GO Bonds Series 2009
$	275,000		7.500	%	04/01/34	$	302,000
	450,000		7.550		04/01/39		500,161
TOTAL MUNICIPAL DEBT OBLIGATIONS						$	802,161
U.S. Treasury Obligations — 4.9%
United States Treasury Bond
$	500,000		4.250	%	05/15/39	$	517,370
United States Treasury Inflation Protected Securities
	2,200,000		1.625		01/15/15		2,527,727
	750,000		2.000		01/15/16		844,281
	600,000		2.500		07/15/16		685,796
	200,000		3.625		04/15/28		329,204
United States Treasury Note
	1,000,000		2.375		09/30/14		1,002,620
United States Treasury Principal-Only STRIPS(g)
	3,400,000		0.000		11/15/21		2,090,762
	200,000		0.000		11/15/26		96,914
	2,100,000		0.000		11/15/27		977,172
TOTAL U.S. TREASURY OBLIGATIONS						$	9,071,846

		Interest
Shares		Rate			Value
Preferred Stock — 0.2%
Banks — 0.2%
Royal Bank of Scotland Group PLC ADR
	475,000		9.118	%	$	439,375
TOTAL INVESTMENTS — 100.9%					$	187,602,430
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.9)%						(1,694,901	)
NET ASSETS — 100.0%					$	185,907,529

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 $18,368,641, which represents approximately 9.9% of net assets as of September 30, 2009.

(b) Securities with “Call” features with resetting interest rate. Maturity dates disclosed are the final maturity dates.

(c) Variable rate security. Interest rate disclosed is that which is in effect at September 30, 2009.

(d) Represents security with notional or nominal 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 $3,073,516, which represents approximately 1.7% of net assets as of September 30, 2009.

(g) Security issued with 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.

(i) Represents securities which are guaranteed by a foreign government. Total market value of these securities amounts to $11,650,899, which represents approximately 6.3% of net assets as of September 30, 2009.

(j) This debt is guaranteed under the Federal Deposit Insurance Corporation’s Temporary Liquidity Guarantee Program and is backed by 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 $4,259,185, which represents approximately 2.3% of net assets as of September 30, 2009.

Investment Abbreviations:
ADR	— American Depositary Receipt
FDIC	— Federal Deposit Insurance Corp.
FHLMC	— Federal Home Loan Mortgage Corp.
FNMA	— Federal National Mortgage Association
GNMA	— Government National Mortgage Association
GO	— General Obligation
LIBOR	— London Inter Bank Offered Rate
REIT	— Real Estate Investment Trust
STRIPS	— Separate Trading of Registered Interest and Principal of Securities

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

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS — At September 30, 2009, the Fund had outstanding forward foreign currency exchange contracts, both to purchase and sell foreign currencies:

Open Forward Foreign Currency Exchange	Contract	Expiration		Value on		Current		Unrealized
Contracts with Unrealized Gain	Type	Date		Settlement Date		Value		Gain
Australian Dollar	Purchase		12/16/09	$	491,329	$	511,716	$	20,387
Euro	Sale		12/16/09		491,381		490,205		1,176
Euro	Purchase		12/16/09		1,574,139		1,598,200		24,061
Japanese Yen	Purchase		12/16/09		887,530		907,200		19,670
New Zealand Dollar	Purchase		12/16/09		925,026		981,807		56,781
Norwegian Krone	Purchase		12/16/09		369,000		371,941		2,941
Swedish Krona	Purchase		12/16/09		488,912		495,389		6,477
TOTAL								$	131,493

Open Forward Foreign Currency Exchange	Contract	Expiration		Value on		Current		Unrealized
Contracts with Unrealized Loss	Type	Date		Settlement Date		Value		Loss
British Pound	Purchase		12/16/09	$	815,737	$	805,075	$	(10,662	)
Euro	Sale		10/13/09		306,429		315,360		(8,931	)
Euro	Purchase		12/16/09		122,502		121,454		(1,048	)
Euro	Sale		12/16/09		320,906		330,705		(9,799	)
Japanese Yen	Sale		12/16/09		1,582,381		1,653,478		(71,097	)
New Zealand Dollar	Sale		12/16/09		241,413		257,923		(16,510	)
Swiss Franc	Sale		12/16/09		700,465		721,004		(20,539	)
TOTAL								$	(138,586	)

Open Forward Foreign Currency Cross
Contracts with Unrealized Gain	Expiration		Purchase		Sale		Unrealized
(Purchase/Sale)	Date		Current Value		Current Value		Gain
Australian Dollar/Canadian Dollar		12/16/09	$	125,188	$	125,347	$	159
Australian Dollar/Euro		12/16/09		247,298		250,377		3,079
Canadian Dollar/Euro		12/16/09		519,472		522,455		2,983
Euro/British Pound		12/16/09		598,897		610,196		11,299
Euro/Swedish Krona		12/16/09		239,953		242,908		2,955
New Zealand Dollar/Euro		12/16/09		122,917		126,296		3,379
Norwegian Krone/Euro		12/16/09		395,091		400,243		5,152
Norwegian Krone/Swedish Krona		12/16/09		148,736		149,033		297
Swiss Franc/Euro		12/16/09		247,798		248,206		408
TOTAL							$	29,711

Open Forward Foreign Currency Cross
Contracts with Unrealized Loss	Expiration		Purchase		Sale		Unrealized
(Purchase/Sale)	Date		Current Value		Current Value		Loss
Australian Dollar/New Zealand Dollar		12/16/09	$	252,893	$	251,570	$	(1,323	)
British Pound/Euro		12/16/09		149,257		148,128		(1,129	)
Canadian Dollar/Euro		12/16/09		200,472		198,505		(1,967	)
Canadian Dollar/Japanese Yen		12/16/09		149,777		145,713		(4,064	)
Euro/Australian Dollar		12/16/09		509,367		494,595		(14,772	)
Euro/Canadian Dollar		12/16/09		251,504		245,834		(5,670	)
Euro/New Zealand Dollar		12/16/09		622,543		614,586		(7,957	)
Euro/Norwegian Krone		12/16/09		252,138		244,746		(7,392	)
New Zealand Dollar/Euro		12/16/09		197,546		197,519		(27	)
Swedish Krona/Euro		12/16/09		245,834		244,102		(1,732	)
TOTAL							$	(46,033	)

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

FORWARD SALES CONTRACT — At September 30, 2009, the Fund had the following forward sales contract:

	Interest			Maturity		Settlement		Principal
Description	Rate			Date		Date		Amount		Value
FHLMC		5.000	%		10/15/39		10/14/09	$	1,000,000	$	1,032,969
(Proceeds Receivable: $1,019,453)

FUTURES CONTRACTS — At September 30, 2009, the following futures contracts were open:

	Number of
	Contracts			Settlement	Notional			Unrealized
Type	Long (Short)			Month	Value			Gain (Loss)
Eurodollars		(37	)	December 2009	$	(9,215,775	)	$	(39,081	)
Eurodollars		1		March 2010		248,438			1,082
Eurodollars		1		June 2010		247,575			1,382
Eurodollars		1		December 2010		245,613			710
Eurodollars		1		March 2011		244,750			1,686
Eurodollars		1		June 2011		243,950			1,699
Eurodollars		1		September 2011		243,238			1,696
Eurodollars		1		December 2011		242,550			1,691
U.S. Treasury Bonds		7		December 2009		849,625			13,952
2 Year U.S. Treasury Notes		102		December 2009		22,130,812			113,356
5 Year U.S. Treasury Notes		(51	)	December 2009		(5,920,781	)		(31,635	)
10 Year U.S. Treasury Notes		81		December 2009		9,584,578			148,855
TOTAL								$	215,393

TAX INFORMATION — At September 30, 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	$	201,387,856
Gross unrealized gain		5,979,037
Gross unrealized loss		(19,764,463	)
Net unrealized security loss	$	(13,785,426	)

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

September 30, 2009 (Unaudited)

Shares		Description	Value
Common Stocks — 98.4%
Automobiles & Components — 0.5%
	66,213	Ford Motor Co.*	$	477,396
	5,000	Harley-Davidson, Inc.		115,000
	12,335	Johnson Controls, Inc.		315,282
	4,800	The Goodyear Tire & Rubber Co.*		81,744
				989,422
Banks — 2.9%
	13,500	BB&T Corp.		367,740
	3,050	Comerica, Inc.		90,493
	15,905	Fifth Third Bancorp		161,118
	4,858	First Horizon National Corp.*		64,272
	9,700	Hudson City Bancorp, Inc.		127,555
	8,349	Huntington Bancshares, Inc.		39,324
	15,300	KeyCorp		99,450
	1,716	M&T Bank Corp.		106,941
	6,100	Marshall & Ilsley Corp.		49,227
	7,100	People’s United Financial, Inc.		110,476
	9,557	PNC Financial Services Group, Inc.		464,375
	23,325	Regions Financial Corp.		144,848
	9,900	SunTrust Banks, Inc.		223,245
	39,051	U.S. Bancorp		853,655
	95,844	Wells Fargo & Co.		2,700,884
	2,800	Zions Bancorporation		50,316
				5,653,919
Capital Goods — 7.4%
	14,239	3M Co.		1,050,838
	12,671	Caterpillar, Inc.		650,402
	4,100	Cummins, Inc.		183,721
	5,300	Danaher Corp.		356,796
	8,779	Deere & Co.		376,795
	3,901	Dover Corp.		151,203
	3,400	Eaton Corp.		192,406
	15,459	Emerson Electric Co.		619,597
	2,800	Fastenal Co.		108,360
	1,200	Flowserve Corp.		118,248
	3,782	Fluor Corp.		192,315
	7,906	General Dynamics Corp.		510,728
	218,081	General Electric Co.		3,580,890
	2,600	Goodrich Corp.		141,284
	15,408	Honeywell International, Inc.		572,407
	8,000	Illinois Tool Works, Inc.		341,680
	3,800	ITT Corp.		198,170
	2,600	Jacobs Engineering Group, Inc.*		119,470
	2,400	L-3 Communications Holdings, Inc.		192,768
	6,682	Lockheed Martin Corp.		521,731
	7,400	Masco Corp.		95,608
	6,592	Northrop Grumman Corp.		341,136
	7,542	PACCAR, Inc.		284,409
	2,400	Pall Corp.		77,472
	3,348	Parker Hannifin Corp.		173,560
	2,900	Precision Castparts Corp.		295,423
	4,100	Quanta Services, Inc.*		90,733
	8,064	Raytheon Co.		386,830
	3,000	Rockwell Automation, Inc.		127,800
	3,260	Rockwell Collins, Inc.		165,608
	5,100	Textron, Inc.		96,798
	14,867	The Boeing Co.		805,048

Shares		Description	Value
Common Stocks — (continued)
Capital Goods — (continued)
	19,237	United Technologies Corp.	$	1,172,110
	1,328	W.W. Grainger, Inc.		118,670
				14,411,014
Commercial & Professional Services — 0.7%
	2,400	Avery Dennison Corp.		86,424
	2,800	Cintas Corp.		84,868
	1,100	Dun & Bradstreet Corp.		82,852
	2,750	Equifax, Inc.		80,135
	3,600	Iron Mountain, Inc.*		95,976
	2,600	Monster Worldwide, Inc.*		45,448
	4,100	Pitney Bowes, Inc.		101,885
	4,200	R.R. Donnelley & Sons Co.		89,292
	6,710	Republic Services, Inc.		178,285
	3,200	Robert Half International, Inc.		80,064
	1,800	Stericycle, Inc.*		87,210
	10,149	Waste Management, Inc.		302,643
				1,315,082
Consumer Durables & Apparel — 1.0%
	1,261	Black & Decker Corp.		58,372
	6,600	Coach, Inc.		217,272
	5,800	D.R. Horton, Inc.		66,178
	5,000	Eastman Kodak Co.		23,900
	3,200	Fortune Brands, Inc.		137,536
	1,100	Harman International Industries, Inc.		37,268
	2,521	Hasbro, Inc.		69,958
	1,500	KB HOME		24,915
	3,100	Leggett & Platt, Inc.		60,140
	3,100	Lennar Corp. Class A		44,175
	7,351	Mattel, Inc.		135,699
	5,633	Newell Rubbermaid, Inc.		88,382
	8,059	NIKE, Inc. Class B		521,417
	1,200	Polo Ralph Lauren Corp.		91,944
	6,613	Pulte Homes, Inc.		72,677
	1,103	Snap-On, Inc.		38,340
	1,600	The Stanley Works		68,304
	1,900	VF Corp.		137,617
	1,459	Whirlpool Corp.		102,072
				1,996,166
Consumer Services — 1.7%
	2,600	Apollo Group, Inc. Class A*		191,542
	9,000	Carnival Corp.		299,520
	3,000	Darden Restaurants, Inc.		102,390
	1,300	DeVry, Inc.		71,916
	7,000	H&R Block, Inc.		128,660
	6,200	International Game Technology		133,176
	5,146	Marriott International, Inc. Class A		141,978
	22,337	McDonald’s Corp.		1,274,773
	15,256	Starbucks Corp.*		315,036
	3,900	Starwood Hotels & Resorts Worldwide, Inc.		128,817
	3,426	Wyndham Worldwide Corp.		55,912
	1,300	Wynn Resorts Ltd.*		92,157
	9,697	Yum! Brands, Inc.		327,371
				3,263,248

GOLDMAN SACHS VARIABLE INSURANCE TRUST EQUITY INDEX FUND

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

Shares		Description	Value
Common Stocks — (continued)
Diversified Financials — 8.3%
	24,269	American Express Co.	$	822,719
	5,180	Ameriprise Financial, Inc.		188,189
	177,504	Bank of America Corp.		3,003,368
	9,433	Capital One Financial Corp.		337,041
	266,905	Citigroup, Inc.		1,291,820
	1,392	CME Group, Inc.		429,001
	10,317	Discover Financial Services		167,445
	12,000	E*Trade Financial Corp.*		21,000
	2,000	Federated Investors, Inc. Class B		52,740
	3,030	Franklin Resources, Inc.		304,818
	1,500	IntercontinentalExchange, Inc.*		145,785
	8,400	Invesco Ltd.		191,184
	3,700	Janus Capital Group, Inc.		52,466
	80,514	JPMorgan Chase & Co.		3,528,124
	3,100	Legg Mason, Inc.		96,193
	3,800	Leucadia National Corp.*		93,936
	4,000	Moody’s Corp.		81,840
	27,747	Morgan Stanley		856,827
	5,000	Northern Trust Corp.		290,800
	5,500	NYSE Euronext		158,895
	9,671	SLM Corp.*		84,331
	10,167	State Street Corp.		534,784
	5,200	T. Rowe Price Group, Inc.		237,640
	24,715	The Bank of New York Mellon Corp.		716,488
	19,694	The Charles Schwab Corp.		377,140
	10,443	The Goldman Sachs Group, Inc.(a)		1,925,167
	2,800	The NASDAQ OMX Group, Inc.*		58,940
				16,048,681
Energy — 11.5%
	10,118	Anadarko Petroleum Corp.		634,702
	6,916	Apache Corp.		635,096
	6,293	Baker Hughes, Inc.		268,460
	5,800	BJ Services Co.		112,694
	2,100	Cabot Oil & Gas Corp.		75,075
	4,500	Cameron International Corp.*		170,190
	13,217	Chesapeake Energy Corp.		375,363
	41,084	Chevron Corp.		2,893,546
	30,402	ConocoPhillips		1,372,954
	3,700	Consol Energy, Inc.		166,907
	4,900	Denbury Resources, Inc.*		74,137
	9,116	Devon Energy Corp.		613,780
	1,400	Diamond Offshore Drilling, Inc.		133,728
	14,630	El Paso Corp.		150,982
	3,000	ENSCO International, Inc.		127,620
	5,193	EOG Resources, Inc.		433,668
	98,436	Exxon Mobil Corp.		6,753,694
	2,592	FMC Technologies, Inc.*		135,406
	18,544	Halliburton Co.		502,913
	6,000	Hess Corp.		320,760
	14,408	Marathon Oil Corp.		459,615
	1,700	Massey Energy Co.		47,413
	4,000	Murphy Oil Corp.		230,280
	5,800	Nabors Industries Ltd.*		121,220
	8,618	National-Oilwell Varco, Inc.*		371,695
	3,500	Noble Energy, Inc.		230,860
	16,600	Occidental Petroleum Corp.		1,301,440

Shares		Description	Value
Common Stocks — (continued)
Energy — (continued)
	5,606	Peabody Energy Corp.	$	208,655
	2,500	Pioneer Natural Resources Co.		90,725
	3,300	Range Resources Corp.		162,888
	2,300	Rowan Companies, Inc.		53,061
	24,533	Schlumberger Ltd.		1,462,167
	4,600	Smith International, Inc.		132,020
	7,100	Southwestern Energy Co.*		303,028
	13,433	Spectra Energy Corp.		254,421
	2,300	Sunoco, Inc.		65,435
	3,000	Tesoro Corp.		44,940
	12,183	The Williams Companies, Inc.		217,710
	11,513	Valero Energy Corp.		223,237
	11,900	XTO Energy, Inc.		491,708
				22,424,193
Food & Staples Retailing — 2.8%
	8,887	Costco Wholesale Corp.		501,760
	29,481	CVS/Caremark Corp.		1,053,651
	8,600	Safeway, Inc.		169,592
	4,273	SUPERVALU, Inc.		64,351
	12,000	Sysco Corp.		298,200
	13,432	The Kroger Co.		277,237
	20,200	Walgreen Co.		756,894
	44,301	Wal-Mart Stores, Inc.		2,174,736
	3,000	Whole Foods Market, Inc.*		91,470
				5,387,891
Food, Beverage & Tobacco — 5.9%
	42,680	Altria Group, Inc.		760,131
	13,149	Archer-Daniels-Midland Co.		384,214
	2,050	Brown-Forman Corp. Class B		98,851
	4,000	Campbell Soup Co.		130,480
	6,650	Coca-Cola Enterprises, Inc.		142,377
	8,900	ConAgra Foods, Inc.		192,952
	4,200	Constellation Brands, Inc. Class A*		63,630
	3,300	Dean Foods Co.*		58,707
	5,300	Dr. Pepper Snapple Group, Inc.*		152,375
	6,700	General Mills, Inc.		431,346
	6,500	H.J. Heinz Co.		258,375
	1,500	Hormel Foods Corp.		53,280
	5,200	Kellogg Co.		255,996
	30,057	Kraft Foods, Inc. Class A		789,597
	3,447	Lorillard, Inc.		256,112
	2,700	McCormick & Co., Inc.		91,638
	3,100	Molson Coors Brewing Co. Class B		150,908
	2,725	Pepsi Bottling Group, Inc.		99,299
	31,875	PepsiCo, Inc.		1,869,788
	39,681	Philip Morris International, Inc.		1,934,052
	3,545	Reynolds American, Inc.		157,823
	14,000	Sara Lee Corp.		155,960
	47,484	The Coca-Cola Co.		2,549,891
	3,500	The Hershey Co.		136,010
	2,434	The J.M. Smucker Co.		129,026
	6,200	Tyson Foods, Inc. Class A		78,306
				11,381,124
Health Care Equipment & Services — 3.9%
	8,789	Aetna, Inc.		244,598

GOLDMAN SACHS VARIABLE INSURANCE TRUST EQUITY INDEX FUND

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

Shares		Description	Value
Common Stocks — (continued)
Health Care Equipment & Services — (continued)
	5,960	AmerisourceBergen Corp.	$	133,385
	12,300	Baxter International, Inc.		701,223
	4,923	Becton, Dickinson and Co.		343,379
	30,506	Boston Scientific Corp.*		323,059
	2,067	C.R. Bard, Inc.		162,487
	7,232	Cardinal Health, Inc.		193,818
	3,816	CareFusion Corp.*		83,189
	5,519	CIGNA Corp.		155,029
	3,100	Coventry Health Care, Inc.*		61,876
	2,100	DaVita, Inc.*		118,944
	3,200	DENTSPLY International, Inc.		110,528
	5,646	Express Scripts, Inc.*		438,017
	3,290	Hospira, Inc.*		146,734
	3,500	Humana, Inc.*		130,550
	3,954	IMS Health, Inc.		60,694
	790	Intuitive Surgical, Inc.*		207,177
	2,300	Laboratory Corp. of America Holdings*		151,110
	5,364	McKesson Corp.		319,426
	9,637	Medco Health Solutions, Inc.*		533,022
	22,558	Medtronic, Inc.		830,134
	2,081	Patterson Companies, Inc.*		56,707
	3,200	Quest Diagnostics, Inc.		167,008
	6,993	St. Jude Medical, Inc.*		272,797
	5,800	Stryker Corp.		263,494
	8,150	Tenet Healthcare Corp.*		47,922
	23,662	UnitedHealth Group, Inc.		592,496
	2,600	Varian Medical Systems, Inc.*		109,538
	9,664	WellPoint, Inc.*		457,687
	4,417	Zimmer Holdings, Inc.*		236,089
				7,652,117
Household & Personal Products — 2.7%
	8,700	Avon Products, Inc.		295,452
	10,286	Colgate-Palmolive Co.		784,616
	8,440	Kimberly-Clark Corp.		497,791
	2,800	The Clorox Co.		164,696
	2,400	The Estee Lauder Companies, Inc. Class A		88,992
	59,909	The Procter & Gamble Co.		3,469,930
				5,301,477
Insurance — 2.6%
	9,692	Aflac, Inc.		414,236
	2,841	American International Group, Inc.*		125,316
	5,650	Aon Corp.		229,898
	2,500	Assurant, Inc.		80,150
	3,468	Cincinnati Financial Corp.		90,133
	8,600	Genworth Financial, Inc. Class A		102,770
	7,973	Hartford Financial Services Group, Inc.		211,284
	6,258	Lincoln National Corp.		162,145
	7,347	Loews Corp.		251,635
	10,788	Marsh & McLennan Companies, Inc.		266,787
	2,950	MBIA, Inc.*		22,892
	16,881	MetLife, Inc.		642,660
	6,532	Principal Financial Group, Inc.		178,911
	9,548	Prudential Financial, Inc.		476,541
	11,038	The Allstate Corp.		337,984
	7,208	The Chubb Corp.		363,355

Shares		Description	Value
Common Stocks — (continued)
Insurance — (continued)
	13,682	The Progressive Corp.*	$	226,848
	11,699	The Travelers Companies, Inc.		575,942
	1,741	Torchmark Corp.		75,612
	6,918	Unum Group		148,322
	6,900	XL Capital Ltd. Class A		120,474
				5,103,895
Materials — 3.5%
	4,300	Air Products & Chemicals, Inc.		333,594
	1,700	Airgas, Inc.		82,229
	2,200	AK Steel Holding Corp.		43,406
	20,068	Alcoa, Inc.		263,292
	2,151	Allegheny Technologies, Inc.		75,263
	2,000	Ball Corp.		98,400
	2,300	Bemis Co., Inc.		59,593
	1,090	CF Industries Holdings, Inc.		93,991
	18,438	E.I. du Pont de Nemours & Co.		592,597
	1,400	Eastman Chemical Co.		74,956
	4,912	Ecolab, Inc.		227,082
	1,500	FMC Corp.		84,375
	8,360	Freeport-McMoRan Copper & Gold, Inc.		573,580
	1,700	International Flavors & Fragrances, Inc.		64,481
	8,859	International Paper Co.		196,935
	3,598	MeadWestvaco Corp.		80,271
	11,254	Monsanto Co.		871,060
	10,088	Newmont Mining Corp.		444,074
	6,400	Nucor Corp.		300,864
	3,400	Owens-Illinois, Inc.*		125,460
	2,700	Pactiv Corp.*		70,335
	3,400	PPG Industries, Inc.		197,914
	6,300	Praxair, Inc.		514,647
	3,316	Sealed Air Corp.		65,093
	2,500	Sigma-Aldrich Corp.		134,950
	23,613	The Dow Chemical Co.		615,591
	1,500	Titanium Metals Corp.		14,385
	2,920	United States Steel Corp.		129,560
	2,400	Vulcan Materials Co.		129,768
	4,392	Weyerhaeuser Co.		160,967
				6,718,713
Media — 2.6%
	13,764	CBS Corp. Class B		165,856
	58,715	Comcast Corp. Class A		991,696
	5,071	Gannett Co., Inc.		63,438
	900	Meredith Corp.		26,946
	46,486	News Corp. Class A		557,367
	6,348	Omnicom Group, Inc.		234,495
	1,900	Scripps Networks Interactive, Inc. Class A		70,205
	9,292	The DIRECTV Group, Inc.*		256,274
	10,271	The Interpublic Group of Companies, Inc.*		77,238
	6,508	The McGraw-Hill Companies, Inc.		163,611
	2,200	The New York Times Co. Class A		17,864
	38,229	The Walt Disney Co.		1,049,768
	133	The Washington Post Co. Class B		62,255
	7,296	Time Warner Cable, Inc.		314,385

GOLDMAN SACHS VARIABLE INSURANCE TRUST EQUITY INDEX FUND

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

Shares		Description	Value
Common Stocks — (continued)
Media — (continued)
	24,292	Time Warner, Inc.	$	699,124
	12,344	Viacom, Inc. Class B*		346,126
				5,096,648
Pharmaceuticals, Biotechnology & Life Sciences — 9.0%
	31,700	Abbott Laboratories		1,568,199
	6,300	Allergan, Inc.		357,588
	20,858	Amgen, Inc.*		1,256,277
	6,015	Biogen Idec, Inc.*		303,878
	40,638	Bristol-Myers Squibb Co.		915,168
	9,300	Celgene Corp.*		519,870
	1,400	Cephalon, Inc.*		81,536
	20,642	Eli Lilly & Co.		681,805
	6,300	Forest Laboratories, Inc.*		185,472
	5,600	Genzyme Corp.*		317,688
	18,600	Gilead Sciences, Inc.*		866,388
	56,589	Johnson & Johnson		3,445,704
	4,666	King Pharmaceuticals, Inc.*		50,253
	3,670	Life Technologies Corp.*		170,838
	43,129	Merck & Co., Inc.		1,364,170
	1,200	Millipore Corp.*		84,396
	6,400	Mylan, Inc.*		102,464
	2,300	PerkinElmer, Inc.		44,252
	138,408	Pfizer, Inc.		2,290,652
	33,446	Schering-Plough Corp.		944,850
	8,468	Thermo Fisher Scientific, Inc.*		369,798
	2,000	Waters Corp.*		111,720
	2,100	Watson Pharmaceuticals, Inc.*		76,944
	27,246	Wyeth		1,323,611
				17,433,521
Real Estate — 1.1%
	2,080	Apartment Investment & Management Co. Class A (REIT)		30,680
	1,691	AvalonBay Communities, Inc. (REIT)		122,986
	2,627	Boston Properties, Inc. (REIT)		172,200
	4,300	CB Richard Ellis Group, Inc. Class A*		50,482
	223	Developers Diversified Realty Corp. (REIT)		2,060
	5,600	Equity Residential (REIT)		171,920
	2,400	Health Care REIT, Inc. (REIT)		99,888
	5,600	HCP, Inc. (REIT)		160,944
	12,357	Host Hotels & Resorts, Inc. (REIT)		145,442
	7,800	Kimco Realty Corp. (REIT)		101,712
	3,500	Plum Creek Timber Co., Inc. (REIT)		107,240
	9,300	ProLogis (REIT)		110,856
	2,651	Public Storage, Inc. (REIT)		199,461
	5,862	Simon Property Group, Inc. (REIT)		406,999
	3,200	Ventas, Inc. (REIT)		123,200
	3,193	Vornado Realty Trust (REIT)		205,648
				2,211,718
Retailing — 3.2%
	1,777	Abercrombie & Fitch Co. Class A		58,428
	6,668	Amazon.com, Inc.*		622,524
	2,172	AutoNation, Inc.*		39,270
	679	AutoZone, Inc.*		99,283

Shares		Description	Value
Common Stocks — (continued)
Retailing — (continued)
	5,472	Bed Bath & Beyond, Inc.*	$	205,419
	7,050	Best Buy Co., Inc.		264,516
	1,700	Big Lots, Inc.*		42,534
	4,400	Expedia, Inc.*		105,380
	2,700	Family Dollar Stores, Inc.		71,280
	3,200	GameStop Corp. Class A*		84,704
	3,398	Genuine Parts Co.		129,328
	4,900	J.C. Penney Co., Inc.		165,375
	6,219	Kohl’s Corp.*		354,794
	5,700	Limited Brands, Inc.		96,843
	30,100	Lowe’s Companies, Inc.		630,294
	8,734	Macy’s, Inc.		159,745
	3,224	Nordstrom, Inc.		98,461
	5,100	Office Depot, Inc.*		33,762
	2,800	O’Reilly Automotive, Inc.*		101,192
	2,300	RadioShack Corp.		38,111
	1,000	Sears Holdings Corp.*		65,310
	14,797	Staples, Inc.		343,586
	15,500	Target Corp.		723,540
	9,650	The Gap, Inc.		206,510
	34,894	The Home Depot, Inc.		929,576
	1,900	The Sherwin-Williams Co.		114,304
	8,493	The TJX Companies, Inc.		315,515
	2,400	Tiffany & Co.		92,472
				6,192,056
Semiconductors & Semiconductor Equipment — 2.5%
	11,600	Advanced Micro Devices, Inc.*		65,656
	6,074	Altera Corp.		124,578
	6,100	Analog Devices, Inc.		168,238
	27,600	Applied Materials, Inc.		369,840
	8,750	Broadcom Corp. Class A*		268,537
	114,749	Intel Corp.		2,245,638
	3,425	KLA-Tencor Corp.		122,820
	4,600	Linear Technology Corp.		127,098
	14,300	LSI Corp.*		78,507
	4,800	MEMC Electronic Materials, Inc.*		79,824
	3,600	Microchip Technology, Inc.		95,400
	16,943	Micron Technology, Inc.*		138,933
	4,400	National Semiconductor Corp.		62,788
	1,865	Novellus Systems, Inc.*		39,128
	11,250	NVIDIA Corp.*		169,087
	3,400	Teradyne, Inc.*		31,450
	26,058	Texas Instruments, Inc.		617,314
	5,600	Xilinx, Inc.		131,152
				4,935,988
Software & Services — 6.9%
	10,915	Adobe Systems, Inc.*		360,632
	2,100	Affiliated Computer Services, Inc. Class A*		113,757
	3,700	Akamai Technologies, Inc.*		72,816
	4,900	Autodesk, Inc.*		116,620
	10,300	Automatic Data Processing, Inc.		404,790
	3,800	BMC Software, Inc.*		142,614
	8,204	CA, Inc.		180,406
	3,700	Citrix Systems, Inc.*		145,151

GOLDMAN SACHS VARIABLE INSURANCE TRUST EQUITY INDEX FUND

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

Shares		Description	Value
Common Stocks — (continued)
Software & Services — (continued)
	6,135	Cognizant Technology Solutions Corp. Class A*	$	237,179
	3,200	Computer Sciences Corp.*		168,672
	4,700	Compuware Corp.*		34,451
	2,900	Convergys Corp.*		28,826
	22,844	eBay, Inc.*		539,347
	6,700	Electronic Arts, Inc.*		127,635
	4,000	Fidelity National Information Services, Inc.		102,040
	3,250	Fiserv, Inc.*		156,650
	4,936	Google, Inc. Class A*		2,447,516
	6,800	Intuit, Inc.*		193,800
	1,900	Mastercard, Inc. Class A		384,085
	3,200	McAfee, Inc.*		140,128
	159,103	Microsoft Corp.		4,119,177
	7,400	Novell, Inc.*		33,374
	80,037	Oracle Corp.		1,667,971
	6,731	Paychex, Inc.		195,535
	4,000	Red Hat, Inc.*		110,560
	2,300	Salesforce.com, Inc.*		130,939
	16,812	Symantec Corp.*		276,894
	14,419	The Western Union Co.		272,807
	4,100	Total System Services, Inc.		66,051
	3,902	VeriSign, Inc.*		92,438
	24,700	Yahoo!, Inc.*		439,907
				13,502,768
Technology Hardware & Equipment — 8.9%
	6,996	Agilent Technologies, Inc.*		194,699
	3,600	Amphenol Corp. Class A		135,648
	18,309	Apple, Inc.*		3,393,939
	1,585	Ciena Corp.*		25,804
	118,262	Cisco Systems, Inc.*		2,783,887
	31,625	Corning, Inc.		484,179
	35,200	Dell, Inc.*		537,152
	41,272	EMC Corp.*		703,275
	3,200	FLIR Systems, Inc.*		89,504
	2,700	Harris Corp.		101,520
	48,641	Hewlett-Packard Co.		2,296,342
	26,909	International Business Machines Corp.		3,218,585
	3,783	Jabil Circuit, Inc.		50,730
	4,625	JDS Uniphase Corp.*		32,884
	10,600	Juniper Networks, Inc.*		286,412
	1,600	Lexmark International, Inc. Class A*		34,464
	2,725	Molex, Inc.		56,898
	47,335	Motorola, Inc.		406,608
	6,811	NetApp, Inc.*		181,717
	2,300	QLogic Corp.*		39,560
	34,020	QUALCOMM, Inc.		1,530,220
	4,800	SanDisk Corp.*		104,160
	14,914	Sun Microsystems, Inc.*		135,568
	8,700	Tellabs, Inc.*		60,204
	3,500	Teradata Corp.*		96,320
	4,700	Western Digital Corp.*		171,691
	17,800	Xerox Corp.		137,772
				17,289,742

Shares		Description	Value
Common Stocks — (continued)
Telecommunication Services — 3.1%
	8,140	American Tower Corp. Class A*	$	296,296
	121,033	AT&T, Inc.		3,269,101
	6,127	CenturyTel, Inc.		205,867
	6,600	Frontier Communications Corp.		49,764
	5,400	MetroPCS Communications, Inc.*		50,544
	30,363	Qwest Communications International, Inc.		115,683
	58,610	Sprint Nextel Corp.*		231,509
	58,170	Verizon Communications, Inc.		1,760,806
	8,981	Windstream Corp.		90,978
				6,070,548
Transportation — 2.0%
	5,422	Burlington Northern Santa Fe Corp.		432,838
	3,500	C.H. Robinson Worldwide, Inc.		202,125
	8,062	CSX Corp.		337,475
	4,400	Expeditors International of Washington, Inc.		154,660
	6,400	FedEx Corp.		481,408
	7,635	Norfolk Southern Corp.		329,145
	1,100	Ryder System, Inc.		42,966
	15,218	Southwest Airlines Co.		146,093
	10,420	Union Pacific Corp.		608,007
	20,411	United Parcel Service, Inc. Class B		1,152,609
				3,887,326
Utilities — 3.7%
	3,500	Allegheny Energy, Inc.		92,820
	4,477	Ameren Corp.		113,179
	9,791	American Electric Power Co., Inc.		303,423
	7,198	CenterPoint Energy, Inc.		89,471
	5,000	CMS Energy Corp.		67,000
	5,500	Consolidated Edison, Inc.		225,170
	4,177	Constellation Energy Group, Inc.		135,209
	12,147	Dominion Resources, Inc.		419,072
	3,400	DTE Energy Co.		119,476
	26,393	Duke Energy Corp.		415,426
	11,397	Dynegy, Inc. Class A*		29,062
	6,569	Edison International		220,587
	4,048	Entergy Corp.		323,273
	2,700	EQT Corp.		115,020
	13,581	Exelon Corp.		673,889
	6,334	FirstEnergy Corp.		289,590
	8,346	FPL Group, Inc.		460,950
	1,431	Integrys Energy Group, Inc.		51,359
	1,000	Nicor, Inc.		36,590
	5,900	NiSource, Inc.		81,951
	3,690	Northeast Utilities		87,601
	4,300	Pepco Holdings, Inc.		63,984
	7,731	PG&E Corp.		313,028
	2,000	Pinnacle West Capital Corp.		65,640
	7,551	PPL Corp.		229,097
	5,777	Progress Energy, Inc.		225,650
	10,442	Public Service Enterprise Group, Inc.		328,296
	3,650	Questar Corp.		137,094
	2,400	SCANA Corp.		83,760
	5,113	Sempra Energy		254,679
	16,267	Southern Co.		515,176

GOLDMAN SACHS VARIABLE INSURANCE TRUST EQUITY INDEX FUND

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

Shares		Description	Value
Common Stocks — (continued)
Utilities — (continued)
	4,500	TECO Energy, Inc.	$	63,360
	13,900	The AES Corp.*		205,998
	2,400	Wisconsin Energy Corp.		108,408
	9,610	Xcel Energy, Inc.		184,896
				7,129,184
TOTAL COMMON STOCKS			$	191,396,441

Principal		Interest			Maturity
Amount		Rate			Date	Value
U.S. Government Obligation(b)(c) — 0.2%
United States Treasury Bill
$	355,000		0.000	%	12/10/09	$	354,955

Shares		Rate			Value
Investment Company(d) — 0.8%
JPMorgan U.S. Government Money Market Fund — Capital Shares
	1,551,998		0.131	%	$	1,551,998
TOTAL INVESTMENTS — 99.4%					$	193,303,394
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.6%						1,162,769
NET ASSETS — 100.0%					$	194,466,163

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.

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

(d) Variable rate security. Interest rate disclosed is that which is in effect at September 30, 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 EQUITY INDEX FUND

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FUTURES CONTRACTS — At September 30, 2009, the following futures contracts were open:

	Number of		Settlement	Notional		Unrealized
Type	Contracts Long		Month	Value		Gain
S&P500 E-mini		59	December 2009	$	3,106,055	$	46,182

TAX INFORMATION — At September 30, 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	$	212,345,452
Gross unrealized gain		20,990,733
Gross unrealized loss		(40,032,791	)
Net unrealized security loss	$	(19,042,058	)

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 GOVERNMENT INCOME FUND

Schedule of Investments

September 30, 2009 (Unaudited)

Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — 61.6%
Adjustable Rate FHLMC(a) — 1.5%
$	643,208		4.846	%	09/01/35	$	665,706
	465,885		4.707		10/01/35		489,091
							1,154,797
Adjustable Rate FNMA(a) — 1.8%
	266,921		3.335		05/01/33		273,814
	544,858		3.055		05/01/35		552,604
	524,424		5.105		12/01/35		548,030
							1,374,448
Adjustable Rate Non-Agency(a) — 6.3%
First Horizon Alternative Mortgage Securities Series 2005-AA7, Class 2A1
	508,414		5.397		09/25/35		346,460
Harborview Mortgage Loan Trust Series 2006-6, Class 3A1A
	516,578		5.914		08/19/36		311,100
Indymac Index Mortgage Loan Trust Series 2006-AR2, Class 1A1A
	492,319		0.466		04/25/46		242,674
J.P. Morgan Mortgage Trust Series 2007-A1, Class 2A2
	583,459		4.279		07/25/35		526,513
Lehman XS Trust Series 2007-4N, Class 3A2A
	795,041		1.801		03/25/47		382,454
Luminent Mortgage Trust Series 2006-2, Class A1A
	537,083		0.446		02/25/46		279,799
Merrill Lynch Mortgage Investors, Inc. Series 2005-A9, Class 2A1C
	1,000,000		5.149		12/25/35		600,350
Residential Accredit Loans, Inc. Series 2005-QO5, Class A1
	498,750		1.901		01/25/46		269,277
Residential Accredit Loans, Inc. Series 2007-QH9, Class A1
	928,090		6.521		11/25/37		405,284
Structured Asset Mortgage Investments, Inc. Series 2007-AR6, Class A1
	801,810		2.401		08/25/47		417,761
Washington Mutual Mortgage Pass-Through Certificates Series 2005-AR10, Class 1A3
	1,000,000		4.826		09/25/35		696,060
Washington Mutual Mortgage Pass-Through Certificates Series 2006-AR11, Class 3A1A
	689,927		1.821		09/25/46		324,727
							4,802,459
Collateralized Mortgage Obligations — 7.3%
Interest Only(a)(b) — 0.0%
FNMA Series 2004-47, Class EI
	325,730		0.000		06/25/34		3,602
FNMA Series 2004-62, Class DI
	147,828		0.000		07/25/33		2,143
							5,745
Planned Amortization Class — 2.6%
FHLMC Series 2003-2719, Class GC
	1,999,322		5.000		06/15/26		2,000,320
Regular Floater(a) — 2.1%
FHLMC Series 2007-3325, Class SX(c)
	57,076		0.000		06/15/37		53,218

Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
Regular Floater(a) — (continued)
FNMA Series 2007-2, Class FM
$	727,279		0.496	%	02/25/37	$	709,082
FNMA Series 2007-20, Class FP
	764,740		0.546		03/25/37		743,906
FNMA Series 2007-53, Class UF(c)
	59,213		0.000		06/25/37		62,445
							1,568,651
Sequential Fixed Rate — 2.6%
Banc of America Funding Corp. Series 2007-8, Class 2A1
	661,252		7.000		10/25/37		469,571
FHLMC Series 2007-3284, Class CA
	592,990		5.000		10/15/21		626,295
FNMA Series 2007-36, Class AB
	843,022		5.000		11/25/21		889,147
							1,985,013
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS						$	5,559,729
Commercial Mortgage-Backed Security — 0.6%
Adjustable Rate Non-Agency(a) — 0.6%
Bear Stearns Commercial Mortgage Securities Series 2006-PW12, Class A4
$	500,000		5.903	%	09/11/38	$	495,848
Federal Agencies — 44.1%
FHLMC — 6.8%
$	6,066		10.000	%	03/01/21	$	6,712
	13,234		6.500		06/01/23		14,109
	22,022		6.000		11/01/36		23,384
	2,096		5.500		01/01/37		2,204
	10,725		5.500		03/01/37		11,344
	43,764		5.500		04/01/37		46,218
	4,882		5.500		06/01/37		5,168
	61,853		5.500		07/01/37		65,037
	4,869		5.500		08/01/37		5,120
	101,118		6.000		11/01/37		107,323
	62,434		5.500		12/01/37		65,808
	92,514		5.500		02/01/38		97,581
	156,975		5.500		04/01/38		165,498
	22,880		6.000		04/01/38		24,284
	798,851		5.500		05/01/38		840,345
	515,496		5.500		06/01/38		544,628
	134,703		5.500		08/01/38		141,723
	19,549		6.000		09/01/38		20,736
	32,689		5.500		10/01/38		34,497
	420,717		5.500		12/01/38		442,838
	54,061		5.500		01/01/39		56,904
	20,758		5.500		02/01/39		21,850
	23,810		6.000		02/01/39		25,256
	8,211		5.500		04/01/39		8,701
	196,054		5.000		05/01/39		203,712
	1,878,495		5.000		06/01/39		1,946,292
	298,373		5.000		07/01/39		309,717
							5,236,989

GOLDMAN SACHS VARIABLE INSURANCE TRUST GOVERNMENT INCOME FUND

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
FNMA — 34.4%
$	3,292		5.000	%	02/01/14	$	3,417
	50,452		5.000		11/01/17		53,304
	234,389		5.000		12/01/17		247,639
	193,407		5.000		01/01/18		204,340
	80,588		5.000		02/01/18		85,597
	209,158		5.000		03/01/18		222,158
	665,070		5.000		04/01/18		706,409
	328,710		5.000		05/01/18		349,142
	675,710		5.000		06/01/18		717,710
	18,726		5.000		07/01/18		19,890
	1,165,807		4.000		09/01/18		1,214,116
	438,017		5.000		11/01/18		465,243
	565,979		5.000		12/01/18		601,159
	40,575		5.000		01/01/19		43,097
	103,571		5.000		02/01/19		109,701
	445,673		5.000		03/01/19		472,050
	881,670		5.500		03/01/19		944,489
	399,499		5.000		04/01/19		423,144
	512,989		5.000		06/01/19		544,876
	317,904		6.000		09/01/19		340,942
	482,106		5.000		12/01/19		510,887
	396,780		6.000		12/01/20		425,534
	16,362		8.000		09/01/21		18,122
	25,711		5.000		04/01/23		26,978
	779,957		4.500		06/01/23		809,418
	95,697		5.000		06/01/23		100,411
	79		6.000		03/01/32		84
	175,629		5.500		03/01/33		184,589
	177,870		5.500		04/01/33		186,945
	145,945		5.500		05/01/33		153,391
	7,624		6.000		05/01/33		8,115
	25,219		5.500		06/01/33		26,505
	296,251		5.500		07/01/33		311,365
	33,378		5.000		08/01/33		34,618
	3,421		6.000		12/01/33		3,639
	252,174		5.500		01/01/34		265,039
	147,719		5.500		06/01/34		155,255
	2,494		6.000		12/01/34		2,651
	5,683		6.000		04/01/35		6,038
	29,737		6.000		07/01/35		31,598
	69,008		6.000		11/01/35		73,240
	89,571		6.000		01/01/36		95,177
	7,936		6.000		02/01/36		8,415
	28,447		6.500		03/01/36		30,406
	20,134		6.000		09/01/36		21,394
	214,221		6.000		10/01/36		227,626
	308,881		6.000		11/01/36		327,872
	18,143		5.500		01/01/37		19,072
	67,169		6.000		01/01/37		71,299
	99,270		5.500		04/01/37		104,323
	401,333		5.500		05/01/37		421,805
	336,626		5.500		07/01/37		352,580
	280,526		6.000		08/01/37		297,712
	285,406		6.000		09/01/37		302,821
	20,354		6.000		10/01/37		21,596

Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
FNMA — (continued)
$	39,353		6.000	%	11/01/37	$	41,754
	57,372		5.500		02/01/38		60,525
	350,375		5.000		03/01/38		362,911
	773,919		5.500		03/01/38		811,522
	773,602		6.000		03/01/38		820,804
	171,586		5.500		04/01/38		180,672
	212,028		5.500		05/01/38		223,597
	572,980		5.500		06/01/38		604,007
	140,803		5.500		07/01/38		148,608
	255,863		5.500		08/01/38		269,229
	435,671		6.000		08/01/38		461,982
	140,437		5.500		09/01/38		148,032
	88,799		5.500		10/01/38		93,356
	404,927		6.000		10/01/38		429,381
	398,604		6.000		11/01/38		422,676
	87,798		5.500		12/01/38		92,363
	77,498		5.500		01/01/39		81,527
	24,892		6.000		01/01/39		26,395
	1,108,153		6.000		02/01/39		1,175,768
	198,383		5.000		05/01/39		205,832
	69,307		4.500		06/01/39		70,433
	55,327		5.000		06/01/39		57,393
	143,290		5.000		07/01/39		148,756
	30,121		4.500		08/01/39		30,611
	100,000		4.500		09/01/39		101,625
	317,966		5.000		09/01/39		329,116
	300,000		4.500		10/01/39		304,751
	1,082,034		5.000		10/01/39		1,122,302
	1,000,000		4.500		TBA-30yr(d)		1,012,813
	1,000,000		5.500		TBA-30yr(d)		1,046,016
	2,000,000		6.000		TBA-30yr(d)		2,088,750
							26,378,450
GNMA — 2.9%
	544,308		6.000		12/15/38		576,244
	43,781		4.500		05/15/39		44,535
	111,716		5.000		05/15/39		116,255
	33,792		4.500		06/15/39		34,374
	486,427		5.000		06/15/39		506,313
	919,549		4.500		07/15/39		935,389
							2,213,110
TOTAL FEDERAL AGENCIES						$	33,828,549
TOTAL MORTGAGE-BACKED OBLIGATIONS						$	47,215,830
Agency Debentures — 16.6%
FFCB
$	500,000		5.400	%	06/08/17	$	554,002
FHLMC
	1,400,000		2.050		03/09/11		1,409,188
	3,500,000		1.750		07/27/11		3,515,377
	1,500,000		5.125		11/17/17		1,665,327

GOLDMAN SACHS VARIABLE INSURANCE TRUST GOVERNMENT INCOME FUND

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

Principal		Interest			Maturity
Amount		Rate			Date	Value
Agency Debentures — (continued)
FNMA
$	1,500,000		2.050	%	04/01/11	$	1,511,043
	1,000,000		1.700		04/29/11		1,004,915
	1,200,000		4.600		06/05/18		1,250,909
Private Export Funding Corp.
	1,100,000		3.050		10/15/14		1,106,710
Tennessee Valley Authority(e)
	700,000		5.375		04/01/56		745,167
TOTAL AGENCY DEBENTURES						$	12,762,638
Asset-Backed Securities — 1.1%
Credit Card — 0.7%
Chase Issuance Trust Series 2005-A11, Class A(a)
$	500,000		0.313	%	12/15/14	$	490,368
Home Equity — 0.4%
GMAC Mortgage Corp. Loan Trust Series 2007-HE3, Class 1A1
	61,446		7.000		09/25/37		36,401
GMAC Mortgage Corp. Loan Trust Series 2007-HE3, Class 2A1
	68,784		7.000		09/25/37		28,541
HFC Home Equity Loan Asset Backed Certificates Series 2007-3, Class APT(a)
	320,295		1.446		11/20/36		260,240
							325,182
TOTAL ASSET-BACKED SECURITIES						$	815,550
Government Guarantee Obligations(f) — 6.7%
Citigroup, Inc.(a)
$	840,000		0.859	%	12/09/10	$	847,135
Citigroup Funding, Inc.
	500,000		1.875		10/22/12		501,312
	800,000		1.875		11/15/12		800,516
	500,000		2.250		12/10/12		506,931
General Electric Capital Corp.
	400,000		2.000		09/28/12		402,229
	500,000		2.125		12/21/12		504,542
	800,000		2.625		12/28/12		820,360
PNC Funding Corp.
	750,000		2.300		06/22/12		763,466
TOTAL GOVERNMENT GUARANTEE OBLIGATIONS						$	5,146,491
U.S. Treasury Obligations — 7.3%
United States Treasury Bond
$	200,000		4.250	%	05/15/39	$	206,948
United States Treasury Inflation Protected Securities
	1,300,000		0.875		04/15/10		1,478,236
	100,000		3.500		01/15/11		128,915
	300,000		1.625		01/15/15		344,690
	700,000		2.000		01/15/16		787,996
	300,000		2.500		07/15/16		342,898
	50,000		3.625		04/15/28		82,301

Principal		Interest			Maturity
Amount		Rate			Date	Value
U.S. Treasury Obligations — (continued)
United States Treasury Principal-Only STRIPS(g)
$	1,800,000		0.000	%	08/15/20	$	1,187,388
	300,000		0.000		08/15/26		146,926
	1,100,000		0.000		11/15/26		533,027
	800,000		0.000		11/15/27		372,256
TOTAL U.S. TREASURY OBLIGATIONS						$	5,611,581

Shares		Rate			Value
Investment Company(a) — 13.1%
JPMorgan U.S. Government Money Market Fund — Capital Shares
	10,010,283		0.131	%	$	10,010,283
TOTAL INVESTMENTS — 106.4%					$	81,562,373
LIABILITIES IN EXCESS OF OTHER ASSETS — (6.4)%						(4,924,367	)
NET ASSETS — 100.0%					$	76,638,006

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

(a) Variable rate security. Interest rate disclosed is that which is in effect at September 30, 2009.

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

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

(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 $4,147,579, which represents approximately 5.4% of net assets as of September 30, 2009.

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

(f) This debt is guaranteed under the Federal Deposit Insurance Corporation’s Temporary Liquidity Guarantee Program and is backed by 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.

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

Investment Abbreviations:
FDIC	— Federal Deposit Insurance Corp.
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

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

GOLDMAN SACHS VARIABLE INSURANCE TRUST GOVERNMENT INCOME FUND

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FUTURES CONTRACTS — At September 30, 2009, the following futures contracts were open:

	Number of
	Contracts			Settlement	Notional			Unrealized
Type	Long (Short)			Month	Value			Gain (Loss)
Eurodollars		(15	)	December 2009	$	(3,736,125	)	$	(15,871	)
Eurodollars		6		March 2010		1,490,625			5,310
U.S. Treasury Bonds		(5	)	December 2009		(606,875	)		(16,716	)
2 Year U.S. Treasury Notes		47		December 2009		10,197,531			41,630
5 Year U.S. Treasury Notes		33		December 2009		3,831,094			23,029
10 Year U.S. Treasury Notes		44		December 2009		5,206,438			73,105
TOTAL								$	110,487

TAX INFORMATION — At September 30, 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	$	83,426,435
Gross unrealized gain		2,053,847
Gross unrealized loss		(3,917,909	)
Net unrealized security loss	$	(1,864,062	)

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 GROWTH AND INCOME FUND

Schedule of Investments

September 30, 2009 (Unaudited)

Shares		Description	Value
Common Stocks — 95.9%
Automobiles & Components — 1.4%
	431,200	Ford Motor Co.*	$	3,108,952
	326,053	Johnson Controls, Inc.		8,333,915
				11,442,867
Banks — 1.7%
	114,000	HSBC Holdings PLC ADR(a)		6,537,900
	59,300	M&T Bank Corp.(a)		3,695,576
	289,100	New York Community Bancorp, Inc.(a)		3,301,522
				13,534,998
Capital Goods — 5.0%
	237,100	Emerson Electric Co.		9,502,968
	406,600	Honeywell International, Inc.		15,105,190
	284,700	The Boeing Co.(a)		15,416,505
				40,024,663
Commercial & Professional Services — 0.5%
	126,366	Waste Management, Inc.		3,768,234
Consumer Durables & Apparel — 0.8%
	382,000	Newell Rubbermaid, Inc.		5,993,580
Consumer Services — 0.2%
	77,424	H&R Block, Inc.		1,423,053
Diversified Financials — 12.2%
	1,647,600	Bank of America Corp.		27,877,392
	99,000	Franklin Resources, Inc.		9,959,400
	179,100	Invesco Ltd.		4,076,316
	809,052	JPMorgan Chase & Co.		35,452,659
	250,900	Morgan Stanley		7,747,792
	219,500	State Street Corp.		11,545,700
				96,659,259
Energy — 17.1%
	237,800	BP PLC ADR		12,658,094
	253,400	Chevron Corp.		17,846,962
	202,043	Devon Energy Corp.		13,603,555
	184,379	EOG Resources, Inc.		15,397,490
	214,323	Exxon Mobil Corp.		14,704,701
	289,900	Halliburton Co.		7,862,088
	277,582	Hess Corp.		14,839,534
	327,079	Occidental Petroleum Corp.		25,642,994
	119,700	Schlumberger Ltd.		7,134,120
	70,000	Transocean Ltd.*		5,987,100
				135,676,638
Food & Staples Retailing — 0.9%
	147,606	Wal-Mart Stores, Inc.		7,245,978
Food, Beverage & Tobacco — 5.8%
	102,900	General Mills, Inc.		6,624,702
	391,538	Philip Morris International, Inc.		19,083,562
	102,599	The Coca-Cola Co.		5,509,567
	514,670	Unilever NV (New York Registered)		14,853,376
				46,071,207
Health Care Equipment & Services — 2.8%
	191,118	Baxter International, Inc.		10,895,637
	77,200	Becton, Dickinson and Co.		5,384,700
	140,300	Covidien PLC		6,069,378
				22,349,715
Household & Personal Products — 1.3%
	34,019	The Clorox Co.		2,000,998

Shares		Description	Value
Common Stocks — (continued)
Household & Personal Products — (continued)
	140,700	The Procter & Gamble Co.	$	8,149,344
				10,150,342
Insurance — 7.9%
	281,700	Aflac, Inc.		12,039,858
	93,100	Everest Re Group Ltd.		8,164,870
	260,200	Marsh & McLennan Companies, Inc.		6,434,746
	169,800	Prudential Financial, Inc.		8,474,718
	265,075	The Allstate Corp.		8,116,597
	392,928	The Travelers Companies, Inc.		19,343,845
				62,574,634
Materials — 4.1%
	103,300	Freeport-McMoRan Copper & Gold, Inc.		7,087,413
	629,900	The Dow Chemical Co.		16,421,493
	199,200	United States Steel Corp.		8,838,504
				32,347,410
Media — 4.5%
	1,122,100	Comcast Corp. Class A		18,952,269
	448,400	DISH Network Corp. Class A*		8,636,184
	282,600	Viacom, Inc. Class B*		7,924,104
				35,512,557
Pharmaceuticals, Biotechnology & Life Sciences — 6.8%
	239,900	Biogen Idec, Inc.*		12,119,748
	65,000	Genzyme Corp.*		3,687,450
	482,034	Johnson & Johnson		29,351,050
	176,021	Wyeth		8,551,100
				53,709,348
Real Estate Investment Trust — 2.3%
	205,800	Annaly Capital Management, Inc.(a)		3,733,212
	66,200	Federal Realty Investment Trust(a)		4,062,694
	165,400	Health Care REIT, Inc.		6,883,948
	480,400	MFA Financial, Inc.		3,823,984
				18,503,838
Retailing — 5.1%
	140,000	J.C. Penney Co., Inc.		4,725,000
	106,300	Kohl’s Corp.*		6,064,415
	413,600	Staples, Inc.		9,603,792
	108,500	Target Corp.		5,064,780
	282,700	The Home Depot, Inc.		7,531,128
	207,400	The TJX Companies, Inc.		7,704,910
				40,694,025
Semiconductors & Semiconductor Equipment — 1.2%
	181,500	Intel Corp.		3,551,955
	170,500	Lam Research Corp.*		5,824,280
				9,376,235
Technology Hardware & Equipment — 3.8%
	510,900	Cisco Systems, Inc.*		12,026,586
	379,499	Hewlett-Packard Co.		17,916,148
				29,942,734
Telecommunication Services — 4.2%
	233,591	CenturyTel, Inc.		7,848,658
	693,100	Koninklijke KPN NV ADR		11,526,253

GOLDMAN SACHS VARIABLE INSURANCE TRUST GROWTH AND INCOME FUND

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

Shares		Description	Value
Common Stocks — (continued)
Telecommunication Services — (continued)
	3,443,549	Sprint Nextel Corp.*	$	13,602,018
				32,976,929
Transportation — 0.5%
	89,200	Norfolk Southern Corp.		3,845,412
Utilities — 5.8%
	220,513	American Electric Power Co., Inc.		6,833,698
	85,806	Edison International		2,881,366
	224,169	Entergy Corp.		17,902,136
	219,338	FirstEnergy Corp.		10,028,133
	276,656	PPL Corp.		8,393,743
				46,039,076
TOTAL COMMON STOCKS			$	759,862,732

		Interest
Shares		Rate			Value
Preferred Stock — 0.9%
JPMorgan Chase & Co.
	7,936,000		7.900	%	$	7,619,909

Shares		Rate			Value
Investment Company(b) — 3.0%
JPMorgan U.S. Government Money Market Fund — Capital Shares
	23,552,470		0.131	%	$	23,552,470
TOTAL INVESTMENTS BEFORE SECURITIES LENDING REINVESTMENT VEHICLE					$	791,035,111
Securities Lending Reinvestment Vehicle(b)(c) — 2.8%
Boston Global Investment Trust — Enhanced Portfolio
	22,237,348		0.177	%	$	22,215,110
TOTAL INVESTMENTS — 102.6%					$	813,250,221
LIABILITIES IN EXCESS OF OTHER ASSETS — (2.6)%						(20,691,191	)
NET ASSETS — 100.0%					$	792,559,030

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

* Non-income producing security.

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

(b) Variable rate security. Interest rate disclosed is that which is in effect at September 30, 2009.

(c) Represents an affiliated issuer.

Investment Abbreviation:
ADR	— American Depositary Receipt

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

GOLDMAN SACHS VARIABLE INSURANCE TRUST GROWTH AND INCOME FUND

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

TAX INFORMATION — At September 30, 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	$	753,050,225
Gross unrealized gain		82,576,162
Gross unrealized loss		(22,376,166	)
Net unrealized security gain	$	60,199,996

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 GROWTH OPPORTUNITIES FUND

Schedule of Investments

September 30, 2009 (Unaudited)

Shares		Description	Value
Common Stocks — 98.1%
Automobiles & Components — 1.3%
	111,700	Gentex Corp.	$	1,580,555
Banks — 2.1%
	166,900	People’s United Financial, Inc.		2,596,964
Capital Goods — 4.7%
	20,400	Alliant Techsystems, Inc.*		1,588,140
	72,300	Kennametal, Inc.		1,779,303
	27,690	Rockwell Automation, Inc.		1,179,594
	24,300	Roper Industries, Inc.		1,238,814
				5,785,851
Commercial & Professional Services* — 1.9%
	70,900	Iron Mountain, Inc.		1,890,194
	9,300	Stericycle, Inc.		450,585
				2,340,779
Consumer Durables & Apparel — 5.9%
	85,100	Coach, Inc.		2,801,492
	39,710	Fortune Brands, Inc.		1,706,736
	92,200	Newell Rubbermaid, Inc.		1,446,618
	16,500	Polo Ralph Lauren Corp.		1,264,230
				7,219,076
Consumer Services — 2.6%
	45,595	Marriott International, Inc. Class A(a)		1,257,966
	63,200	Pinnacle Entertainment, Inc.*		644,008
	37,800	Starwood Hotels & Resorts Worldwide, Inc.		1,248,534
				3,150,508
Diversified Financials — 6.2%
	23,600	IntercontinentalExchange, Inc.*		2,293,684
	43,100	Northern Trust Corp.		2,506,696
	136,600	SLM Corp.*		1,191,152
	81,700	TD Ameritrade Holding Corp.*		1,602,954
				7,594,486
Energy — 7.2%
	80,700	Cameron International Corp.*		3,052,074
	34,700	Continental Resources, Inc.*(a)		1,359,199
	17,100	Core Laboratories NV(a)		1,762,839
	39,100	Dresser-Rand Group, Inc.*		1,214,837
	24,100	Whiting Petroleum Corp.*(a)		1,387,678
				8,776,627
Food, Beverage & Tobacco — 1.6%
	52,100	Hansen Natural Corp.*		1,914,154
Health Care Equipment & Services — 9.3%
	37,505	C.R. Bard, Inc.		2,948,268
	35,200	Emdeon, Inc. Class A*		570,240
	28,700	Express Scripts, Inc.*		2,226,546
	30,700	Henry Schein, Inc.*		1,685,737
	73,400	St. Jude Medical, Inc.*		2,863,334
	20,500	Zimmer Holdings, Inc.*		1,095,725
				11,389,850
Household & Personal Products — 5.6%
	67,000	Avon Products, Inc.		2,275,320
	37,200	Chattem, Inc.*(a)		2,470,452
	31,500	Energizer Holdings, Inc.*		2,089,710
				6,835,482

Shares		Description	Value
Common Stocks — (continued)
Materials — 1.9%
	49,600	Ecolab, Inc.	$	2,293,008
Media — 1.2%
	51,300	Lamar Advertising Co. Class A*		1,407,672
Pharmaceuticals, Biotechnology & Life Sciences — 8.1%
	130,200	Amylin Pharmaceuticals, Inc.*(a)		1,782,438
	17,200	Biogen Idec, Inc.*		868,944
	70,490	Charles River Laboratories International, Inc.*		2,606,720
	15,400	Covance, Inc.*		833,910
	17,300	Millipore Corp.*		1,216,709
	36,300	Shire PLC ADR		1,898,127
	34,100	Talecris Biotherapeutics Holdings Corp.*		647,900
				9,854,748
Real Estate* — 2.2%
	224,500	CB Richard Ellis Group, Inc. Class A		2,635,630
Retailing — 11.0%
	32,900	Bed Bath & Beyond, Inc.*		1,235,066
	60,800	Dick’s Sporting Goods, Inc.*		1,361,920
	34,600	GameStop Corp. Class A*		915,862
	42,431	Netflix, Inc.*(a)		1,959,039
	114,700	PetSmart, Inc.		2,494,725
	106,300	Staples, Inc.		2,468,286
	48,400	Tiffany & Co.		1,864,852
	39,200	Urban Outfitters, Inc.*		1,182,664
				13,482,414
Semiconductors & Semiconductor Equipment — 5.0%
	37,100	Altera Corp.		760,921
	85,000	Broadcom Corp. Class A*		2,608,650
	62,800	FormFactor, Inc.*		1,502,176
	44,700	Linear Technology Corp.		1,235,061
				6,106,808
Software & Services — 10.6%
	26,100	Citrix Systems, Inc.*		1,023,903
	56,120	Cognizant Technology Solutions Corp. Class A*		2,169,599
	48,100	Electronic Arts, Inc.*		916,305
	35,600	Equinix, Inc.*(a)		3,275,200
	63,400	Global Payments, Inc.		2,960,780
	19,800	Salesforce.com, Inc.*(a)		1,127,214
	80,500	The Western Union Co.		1,523,060
				12,996,061
Technology Hardware & Equipment — 3.8%
	71,620	Amphenol Corp. Class A		2,698,642
	71,200	FLIR Systems, Inc.*(a)		1,991,464
				4,690,106
Telecommunication Services* — 5.4%
	73,600	American Tower Corp. Class A		2,679,040
	53,500	Crown Castle International Corp.		1,677,760
	161,800	tw telecom, inc.		2,176,210
				6,533,010
Transportation — 0.5%
	10,700	C.H. Robinson Worldwide, Inc.		617,925
TOTAL COMMON STOCKS			$	119,801,714

GOLDMAN SACHS VARIABLE INSURANCE TRUST GROWTH OPPORTUNITIES FUND

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

Shares		Rate			Value
Investment Company(b) — 1.5%
JPMorgan U.S. Government Money Market Fund — Capital Shares
	1,856,134		0.131	%	$	1,856,134
TOTAL INVESTMENTS BEFORE SECURITIES LENDING REINVESTMENT VEHICLE					$	121,657,848
Securities Lending Reinvestment Vehicle(b)(c) — 11.4%
Boston Global Investment Trust — Enhanced Portfolio
	13,893,056		0.177	%	$	13,879,163
TOTAL INVESTMENTS — 111.0%					$	135,537,011
LIABILITIES IN EXCESS OF OTHER ASSETS — (11.0)%						(13,376,994	)
NET ASSETS — 100.0%					$	122,160,017

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

* Non-income producing security.

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

(b) Variable rate security. Interest rate disclosed is that which is in effect at September 30, 2009.

(c) Represents an affiliated issuer.

Investment Abbreviation:
ADR	— American Depositary Receipt

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

GOLDMAN SACHS VARIABLE INSURANCE TRUST GROWTH OPPORTUNITIES FUND

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

TAX INFORMATION — At September 30, 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	$	130,861,909
Gross unrealized gain		12,441,532
Gross unrealized loss		(7,766,430	)
Net unrealized security gain	$	4,675,102

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 MID CAP VALUE FUND

Schedule of Investments

September 30, 2009 (Unaudited)

Shares		Description	Value
Common Stocks — 98.8%
Automobiles & Components — 0.8%
	296,759	Johnson Controls, Inc.	$	7,585,160
Banks — 3.2%
	318,700	Comerica, Inc.		9,455,829
	47,430	M&T Bank Corp.(a)		2,955,837
	347,842	New York Community Bancorp, Inc.(a)		3,972,356
	614,100	SunTrust Banks, Inc.		13,847,955
				30,231,977
Capital Goods — 5.3%
	263,000	BE Aerospace, Inc.*		5,296,820
	171,294	Cooper Industries PLC Class A		6,435,516
	213,700	Cummins, Inc.		9,575,897
	225,481	Eaton Corp.		12,759,970
	101,971	Lennox International, Inc.		3,683,192
	166,354	Parker Hannifin Corp.		8,623,791
	133,100	Pentair, Inc.		3,929,112
				50,304,298
Commercial & Professional Services — 1.4%
	61,800	Corrections Corp of America*		1,399,770
	107,721	Iron Mountain, Inc.*(a)		2,871,842
	354,261	Republic Services, Inc.		9,412,715
				13,684,327
Consumer Durables & Apparel — 4.1%
	157,606	Fortune Brands, Inc.		6,773,906
	71,000	Mohawk Industries, Inc.*		3,385,990
	816,300	Newell Rubbermaid, Inc.		12,807,747
	17,700	NVR, Inc.*(a)		11,281,449
	138,800	Snap-On, Inc.		4,824,688
				39,073,780
Consumer Services — 1.3%
	87,560	H&R Block, Inc.		1,609,353
	313,700	Starwood Hotels & Resorts Worldwide, Inc.		10,361,511
				11,970,864
Diversified Financials — 4.6%
	834,100	Invesco Ltd.		18,984,116
	496,200	Janus Capital Group, Inc.		7,036,116
	243,200	Raymond James Financial, Inc.(a)		5,661,696
	1,322,630	SLM Corp.*		11,533,333
				43,215,261
Energy — 11.6%
	65,300	Core Laboratories NV(a)		6,731,777
	246,100	Dril-Quip, Inc.*		12,216,404
	171,700	Helmerich & Payne, Inc.		6,787,301
	607,328	Newfield Exploration Co.*		25,847,880
	284,700	Noble Energy, Inc.		18,778,812
	296,300	Oil States International, Inc.*		10,409,019
	275,711	Range Resources Corp.		13,609,095
	253,700	Whiting Petroleum Corp.*(a)		14,608,046
				108,988,334
Food & Staples Retailing — 0.9%
	132,200	BJ’s Wholesale Club, Inc.*		4,788,284
	200,100	Safeway, Inc.		3,945,972
				8,734,256

Shares		Description	Value
Common Stocks — (continued)
Food, Beverage & Tobacco — 2.8%
	78,778	Campbell Soup Co.	$	2,569,738
	188,882	Coca-Cola Enterprises, Inc.		4,043,964
	314,482	ConAgra Foods, Inc.		6,817,970
	165,100	Molson Coors Brewing Co. Class B		8,037,068
	91,700	The J.M. Smucker Co.		4,861,017
				26,329,757
Health Care Equipment & Services — 4.2%
	440,300	Aetna, Inc.		12,253,549
	35,400	Becton, Dickinson and Co.		2,469,150
	84,300	C.R. Bard, Inc.		6,626,823
	126,270	Edwards Lifesciences Corp.*		8,827,536
	267,500	Kinetic Concepts, Inc.*(a)		9,892,150
				40,069,208
Household & Personal Products — 1.5%
	31,505	Alberto-Culver Co.		872,058
	40,000	Energizer Holdings, Inc.*		2,653,600
	174,639	The Clorox Co.(a)		10,272,266
				13,797,924
Insurance — 13.7%
	141,594	Arch Capital Group Ltd.*		9,563,259
	162,089	Everest Re Group Ltd.		14,215,205
	388,500	Genworth Financial, Inc. Class A		4,642,575
	482,300	Hartford Financial Services Group, Inc.		12,780,950
	331,700	Lincoln National Corp.		8,594,347
	646,200	Marsh & McLennan Companies, Inc.		15,980,526
	478,200	Principal Financial Group, Inc.		13,097,898
	710,100	The Progressive Corp.*		11,773,458
	796,099	W.R. Berkley Corp.		20,125,383
	328,852	Willis Group Holdings Ltd.		9,280,203
	545,600	XL Capital Ltd. Class A		9,526,176
				129,579,980
Materials — 8.2%
	197,300	Airgas, Inc.		9,543,401
	200,700	Celanese Corp. Class A		5,017,500
	320,800	Cliffs Natural Resources, Inc.		10,381,088
	167,500	FMC Corp.		9,421,875
	714,500	Huntsman Corp.		6,509,095
	269,200	Pactiv Corp.*		7,012,660
	186,100	Terra Industries, Inc.		6,452,087
	289,800	United States Steel Corp.(a)		12,858,426
	181,300	Vulcan Materials Co.(a)		9,802,891
				76,999,023
Media — 4.7%
	372,200	CBS Corp. Class B		4,485,010
	1,042,700	DISH Network Corp. Class A*		20,082,402
	299,800	Lamar Advertising Co. Class A*		8,226,512
	404,400	Viacom, Inc. Class B*		11,339,376
				44,133,300
Pharmaceuticals, Biotechnology & Life Sciences — 0.5%
	85,400	Biogen Idec, Inc.*		4,314,408
Real Estate Investment Trust — 5.9%
	128,918	Alexandria Real Estate Equities, Inc.(a)		7,006,693
	176,602	Boston Properties, Inc.		11,576,261
	49,900	Digital Realty Trust, Inc.		2,280,929

GOLDMAN SACHS VARIABLE INSURANCE TRUST MID CAP VALUE FUND

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

Shares		Description	Value
Common Stocks — (continued)
Real Estate Investment Trust - (continued)
	448,800	Douglas Emmett, Inc.	$	5,511,264
	81,600	Essex Property Trust, Inc.(a)		6,493,728
	108,000	Federal Realty Investment Trust(a)		6,627,960
	805,096	Host Hotels & Resorts, Inc.		9,475,980
	174,600	Regency Centers Corp.		6,468,930
				55,441,745
Retailing — 5.7%
	386,601	J.C. Penney Co., Inc.		13,047,784
	115,800	Kohl’s Corp.*		6,606,390
	789,600	Liberty Media Corp. — Interactive Class A*		8,661,912
	166,683	Ross Stores, Inc.		7,962,447
	276,300	The TJX Companies, Inc.		10,264,545
	231,900	Urban Outfitters, Inc.*		6,996,423
				53,539,501
Semiconductors & Semiconductor Equipment — 1.7%
	134,500	Linear Technology Corp.		3,716,235
	646,500	ON Semiconductor Corp.*		5,333,625
	745,500	Teradyne, Inc.*(a)		6,895,875
				15,945,735
Software & Services* — 2.2%
	651,600	IAC/InterActiveCorp		13,155,804
	555,800	Parametric Technology Corp.		7,681,156
				20,836,960
Technology Hardware & Equipment — 3.0%
	124,569	Amphenol Corp. Class A		4,693,760
	552,600	CommScope, Inc.*		16,539,318
	156,500	Lexmark International, Inc. Class A*		3,371,010
	443,300	Xerox Corp.		3,431,142
				28,035,230
Telecommunication Services — 1.8%
	212,258	CenturyTel, Inc.		7,131,869
	2,431,700	Sprint Nextel Corp.*		9,605,215
				16,737,084
Transportation — 1.0%
	177,700	Kansas City Southern*		4,707,273
	121,400	Ryder System, Inc.		4,741,884
				9,449,157
Utilities — 8.7%
	224,490	American Electric Power Co., Inc.		6,956,945
	500,095	CMS Energy Corp.(a)		6,701,273
	409,699	DPL, Inc.		10,693,144
	392,433	Edison International		13,177,900
	77,471	Entergy Corp.		6,186,834
	189,862	FirstEnergy Corp.		8,680,491
	75,795	Northeast Utilities		1,799,373
	408,803	NV Energy, Inc.		4,738,027
	73,100	Pinnacle West Capital Corp.		2,399,142
	584,201	PPL Corp.		17,724,658
	163,300	Xcel Energy, Inc.		3,141,892
				82,199,679
TOTAL COMMON STOCKS			$	931,196,948

Shares		Rate			Value
Investment Company(b) — 0.2%
JPMorgan U.S. Government Money Market Fund — Capital Shares
	1,805,041		0.131	%	$	1,805,041
TOTAL INVESTMENTS BEFORE SECURITIES LENDING REINVESTMENT VEHICLE					$	933,001,989
Securities Lending Reinvestment Vehicle(b)(c) — 6.0%
Boston Global Investment Trust — Enhanced Portfolio
	56,657,066		0.177	%	$	56,600,409
TOTAL INVESTMENTS — 105.0%					$	989,602,398
LIABILITIES IN EXCESS OF OTHER ASSETS — (5.0)%						(47,178,770	)
NET ASSETS — 100.0%					$	942,423,628

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

* Non-income producing security.

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

(b) Variable rate security. Interest rate disclosed is that which is in effect at September 30, 2009.

(c) Represents an affiliated issuer.

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 (continued)

September 30, 2009 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

TAX INFORMATION — At September 30, 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	$	930,362,870
Gross unrealized gain		96,066,014
Gross unrealized loss		(36,826,486	)
Net unrealized security gain	$	59,239,528

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 MONEY MARKET FUND

Schedule of Investments

September 30, 2009 (Unaudited)

Principal		Interest			Maturity	Amortized
Amount		Rate			Date	Cost
Commercial Paper and Corporate Obligations — 34.6%
Aspen Funding Corp.
$	5,000,000		0.220	%	10/13/09	$	4,999,633
Barton Capital LLC
	2,000,000		0.250		01/04/10		1,998,681
Cafco LLC
	3,000,000		0.350		11/13/09		2,998,746
Charta LLC
	4,000,000		0.350		11/16/09		3,998,211
CRC Funding LLC
	3,000,000		0.290		01/07/10		2,997,632
Gemini Securitization Corp.
	5,000,000		0.210		10/13/09		4,999,650
Govco LLC
	3,000,000		0.350		11/09/09		2,998,863
Newport Funding Corp.
	5,000,000		0.400		10/01/09		5,000,000
NRW Bank
	2,000,000		0.270		12/28/09		1,998,680
Regency Markets No.1 LLC
	3,000,000		0.220		10/13/09		2,999,780
Salisbury Receivables Co. LLC
	3,000,000		0.220		10/21/09		2,999,633
Societe Generale
	1,000,000		0.350		10/05/09		999,961
	1,000,000		0.340		10/05/09		999,962
Standard Chartered PLC
	3,000,000		0.250		10/16/09		2,999,687
Straight-A Funding LLC
	2,000,000		0.240		11/24/09		1,999,280
	4,000,000		0.360		10/06/09		3,999,800
Tasman Funding, Inc.
	3,000,000		0.300		10/15/09		2,999,650
Westpac Banking Corp.
	2,000,000		0.280		01/15/10		1,998,351
TOTAL COMMERCIAL PAPER AND CORPORATE OBLIGATIONS						$	53,986,200
Eurodollar Certificates of Deposit — 0.7%
BNP Paribas SA
$	1,000,000		0.360	%	10/13/09	$	1,000,004
Government Guarantee Commercial Paper — 2.3%
Citigroup Funding, Inc.(a)
$	2,000,000		0.250	%	10/05/09	$	1,999,944
Swedbank AB(b)
	500,000		0.700		11/10/09		499,611
	500,000		0.700		11/12/09		499,592
	500,000		0.700		11/13/09		499,582
TOTAL GOVERNMENT GUARANTEE COMMERCIAL PAPER						$	3,498,729

Principal		Interest			Maturity	Amortized
Amount		Rate			Date	Cost
Government Guarantee Variable Rate Obligations — 2.6%
Bank of America N.A.(a)
$	1,000,000		0.546	%	10/29/09	$	1,000,000
Royal Bank of Scotland Group PLC(b)
	3,000,000		0.564		11/09/09		3,000,000
TOTAL GOVERNMENT GUARANTEE VARIABLE RATE OBLIGATIONS						$	4,000,000
U.S. Government Agency Obligations — 22.8%
Federal Home Loan Bank
$	1,000,000		0.258	%(c)	10/09/09	$	999,948
	1,000,000		0.230	(c)	10/13/09		999,974
	2,000,000		0.221	(c)	12/01/09		1,999,579
	2,000,000		0.142	(c)	12/08/09		1,999,880
	2,000,000		0.950		04/05/10		1,999,254
	700,000		0.600		06/21/10		699,522
	4,000,000		0.560		08/27/10		3,998,263
Federal Home Loan Mortgage Corp.
	5,740,000		0.587	(c)	10/07/09		5,741,507
	1,000,000		0.410	(c)	10/12/09		1,000,000
	1,500,000		0.151	(c)	10/23/09		1,499,870
	3,000,000		0.670		11/20/09		2,997,208
	200,000		0.314	(c)	12/03/09		199,942
	2,500,000		0.420		02/08/10		2,496,208
	3,000,000		0.660		05/04/10		2,988,175
Federal National Mortgage Association
	1,000,000		0.400	(c)	10/13/09		999,765
	1,000,000		0.260		01/08/10		999,285
	2,500,000		0.420		02/08/10		2,496,208
	1,500,000		0.540		07/12/10		1,493,610
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS						$	35,608,198
Variable Rate Obligations(c) — 4.8%
ANZ National Bank Ltd.
$	3,000,000		0.489	%	10/09/09	$	3,000,000
Rabobank Nederland
	2,000,000		0.259		10/07/09		2,000,000
	1,000,000		0.440		11/16/09		1,000,000
Westpac Banking Corp.
	1,500,000		0.329		12/09/09		1,500,000
TOTAL VARIABLE RATE OBLIGATIONS						$	7,500,000
Yankee Certificates of Deposit — 8.3%
Caixa Geral de Depositos SA
$	3,000,000		0.240	%	10/08/09	$	3,000,000
Deutsche Bank AG
	4,000,000		0.300		11/12/09		4,000,000
Lloyds TSB Group PLC
	4,000,000		0.470		10/09/09		4,000,000

GOLDMAN SACHS VARIABLE INSURANCE TRUST MONEY MARKET FUND

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

Principal		Interest			Maturity	Amortized
Amount		Rate			Date	Cost
Yankee Certificates of Deposit — (continued)
Royal Bank of Scotland Group PLC
$	2,000,000		0.380	%	11/24/09	$	2,000,000
TOTAL YANKEE CERTIFICATES OF DEPOSIT						$	13,000,000
U.S. Treasury Obligations — 1.3%
United States Treasury Bills
$	1,000,000		0.540	%	06/10/10	$	996,220
	700,000		0.410		06/17/10		697,935
	300,000		0.442		06/17/10		299,045
TOTAL U.S. TREASURY OBLIGATIONS						$	1,993,200
TOTAL INVESTMENTS BEFORE REPURCHASE AGREEMENT						$	120,586,331
Repurchase Agreement(d) — 22.6%
Joint Repurchase Agreement Account II
$	35,300,000		0.061	%	10/01/09	$	35,300,000
Maturity Value: $35,300,060
TOTAL INVESTMENTS — 100.0%						$	155,886,331
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.0%							59,171
NET ASSETS — 100.0%						$	155,945,502

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

(a) This debt is guaranteed under the Federal Deposit Insurance Corporation’s (“FDIC”) 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 the securities amounts to $2,999,944, which represents approximately 1.9% of net assets as of September 30, 2009.

(b) Represents securities which are guaranteed by a foreign government. Total market value of the securities amounts to $4,498,785, which represents approximately 2.9% of net assets as of September 30, 2009.

(c) Variable rate security. Interest rate disclosed is that which is in effect at September 30, 2009.

(d) Joint repurchase agreement was entered into on September 30, 2009. Additional information appears in the Notes to the Schedule of Investments section.

Interest rates represent either the stated coupon rate, annualized yield on date of purchase for discounted securities, or, for floating rate securities, the current reset rate, which is based upon current interest rate indices.

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

September 30, 2009 (Unaudited)

Shares		Description	Value
Common Stocks — 90.8%
Bermuda — 0.3%
	131,876	Hiscox Ltd. (Insurance)	$	727,763
Cyprus — 0.4%
	162,492	ProSafe SE (Energy)		839,597
Denmark — 1.6%
	26,184	Carlsberg A/S Class B (Food, Beverage & Tobacco)		1,904,903
	29,815	Novo Nordisk A/S Class B (Pharmaceuticals, Biotechnology & Life Sciences)		1,875,185
				3,780,088
Finland — 2.6%
	268,263	Nokia Oyj (Technology Hardware & Equipment)		3,934,650
	96,522	Nokian Renkaat Oyj (Automobiles & Components)		2,254,513
				6,189,163
France — 6.3%
	26,030	Air Liquide SA (Materials)		2,966,031
	20,291	Alstom SA (Capital Goods)		1,485,942
	117,985	AXA SA (Insurance)		3,202,695
	69,508	Safran SA (Capital Goods)		1,306,384
	29,918	Societe Generale (Banks)		2,419,972
	27,330	Sodexo (Consumer Services)		1,641,524
	65,192	Vivendi (Media)(a)		2,026,048
				15,048,596
Germany — 5.6%
	22,620	BASF SE (Materials)		1,197,615
	47,750	Bayer AG (Pharmaceuticals, Biotechnology & Life Sciences)		3,305,143
	21,870	Daimler AG (Registered) (Automobiles & Components)		1,097,173
	97,068	E.ON AG (Utilities)		4,108,420
	11,121	Hamburger Hafen und Logistik AG (Transportation)		500,281
	20,634	HeidelbergCement AG (Materials)		1,333,679
	10,095	Salzgitter AG (Materials)		964,103
	21,235	SAP AG (Software & Services)		1,029,693
				13,536,107
Hong Kong — 2.6%
	769,000	BOC Hong Kong (Holdings) Ltd. (Banks)		1,679,404
	65,800	Hang Seng Bank Ltd. (Banks)		944,670
	224,500	Kerry Properties Ltd. (Real Estate)		1,195,059
	169,000	Sun Hung Kai Properties Ltd. (Real Estate)		2,482,346
				6,301,479
Ireland — 1.8%
	62,943	CRH PLC (Materials)		1,742,842
	90,065	Kerry Group PLC Class A (Food, Beverage & Tobacco)		2,578,845
				4,321,687
Italy — 7.1%
	81,969	Azimut Holding SpA (Diversified Financials)		1,039,364

Shares		Description	Value
Common Stocks — (continued)
Italy — (continued)
	145,191	Banca Popolare Di Milano Scarl (Banks)	$	1,108,057
	171,660	Eni SpA (Energy)		4,289,581
	788,634	Intesa Sanpaolo SpA (Banks)*		3,499,085
	131,048	Mediobanca SpA (Diversified Financials)		1,794,571
	672,810	Snam Rete Gas SpA (Utilities)		3,276,277
	175,540	Terna Rete Elettrica Nazionale SpA (Utilities)		685,199
	90,132	Unione di Banche Italiane ScpA (Banks)		1,386,505
				17,078,639
Japan — 20.7%
	31,000	ABC-Mart, Inc. (Retailing)		964,026
	148,000	Ajinomoto Co., Inc. (Food, Beverage & Tobacco)		1,482,281
	47,300	Daiichi Sankyo Co. Ltd. (Pharmaceuticals, Biotechnology & Life Sciences)		975,217
	231,000	Daiwa Securities Group, Inc. (Diversified Financials)		1,186,713
	27,700	East Japan Railway Co. (Transportation)		1,997,144
	64,300	FUJIFILM Holdings Corp. (Technology Hardware & Equipment)		1,920,092
	180,000	Fujitsu Ltd. (Technology Hardware & Equipment)		1,174,046
	28,900	Funai Electric Co. Ltd. (Consumer Durables & Apparel)		1,314,965
	55,000	Hitachi Metals Ltd. (Materials)		561,897
	57,200	Honda Motor Co. Ltd. (Automobiles & Components)		1,737,150
	238	Japan Tobacco, Inc. (Food, Beverage & Tobacco)		813,704
	99,000	Koito Manufacturing Co. Ltd. (Automobiles & Components)		1,369,109
	119,800	Komatsu Ltd. (Capital Goods)		2,235,634
	106,500	Kuraray Co. Ltd. (Materials)		1,159,786
	19,300	Kyocera Corp. (Technology Hardware & Equipment)		1,782,847
	20,300	Mabuchi Motor Co. Ltd. (Technology Hardware & Equipment)		1,031,516
	75,000	Mitsubishi Corp. (Capital Goods)		1,508,425
	135,000	Mitsubishi Tanabe Pharma Corp. (Pharmaceuticals, Biotechnology & Life Sciences)		1,795,986
	414,100	Mitsubishi UFJ Financial Group, Inc. (Banks)		2,213,010
	150,000	Mitsui & Co. Ltd. (Capital Goods)		1,951,454
	68,000	Mitsui Fudosan Co. Ltd. (Real Estate)		1,145,014
	311,000	Mitsui Mining & Smelting Co. Ltd. (Materials)*		793,974
	250,000	Nippon Sheet Glass Co. Ltd. (Capital Goods)		831,723
	156,000	Nippon Yusen Kabushiki Kaisha (Transportation)		600,773
	13,300	Nissha Printing Co. Ltd. (Commercial & Professional Services)		676,679

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRATEGIC INTERNATIONAL EQUITY FUND

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

Shares		Description	Value
Common Stocks — (continued)
Japan — (continued)
	1,551	NTT DoCoMo, Inc. (Telecommunication Services)	$	2,470,398
	8,680	ORIX Corp. (Diversified Financials)		527,200
	89,300	Panasonic Corp. (Consumer Durables & Apparel)		1,306,822
	46,400	Seven & I Holdings Co. Ltd. (Food & Staples Retailing)		1,107,437
	18,300	Shin-Etsu Chemical Co. Ltd. (Materials)		1,122,673
	229	Sony Financial Holdings, Inc. (Insurance)		655,222
	302,000	Sumitomo Metal Industries Ltd. (Materials)		739,979
	66,000	Sumitomo Metal Mining Co. Ltd. (Materials)		1,078,049
	49,500	Sumitomo Mitsui Financial Group, Inc. (Banks)		1,715,784
	154,000	The Chiba Bank Ltd. (Banks)		950,522
	145,000	Tokuyama Corp. (Materials)		1,060,046
	298,000	Toshiba Corp. (Technology Hardware & Equipment)*		1,559,805
	59,800	Toyota Motor Corp. (Automobiles & Components)		2,378,277
				49,895,379
Jersey — 0.2%
	6,508	Randgold Resources Ltd. (Materials)		454,548
Luxembourg — 0.5%
	57,771	SES SA FDR (Media)		1,311,764
Netherlands — 1.7%
	252,512	Koninklijke KPN NV (Telecommunication Services)		4,194,704
Norway* — 0.4%
	90,050	Petroleum Geo-Services ASA (Energy)		882,197
Singapore — 0.7%
	357,000	Singapore Press Holdings Ltd. (Media)		975,353
	156,000	Wilmar International Ltd. (Food, Beverage & Tobacco)		694,915
				1,670,268
Spain — 2.7%
	99,592	Banco Santander SA (Banks)		1,608,849
	99,162	Grifols SA (Pharmaceuticals, Biotechnology & Life Sciences)		1,893,255
	103,850	Telefonica SA (Telecommunication Services)		2,873,218
				6,375,322
Sweden — 0.8%
	195,025	Nordea Bank AB (Banks)		1,971,471
Switzerland — 10.2%
	4,787	Geberit AG (Registered) (Capital Goods)		736,884
	9,940	Kuehne + Nagel International AG (Registered) (Transportation)		865,799
	509	Lindt & Spruengli AG (Food, Beverage & Tobacco)		1,236,903
	69,999	Nestle SA (Registered) (Food, Beverage & Tobacco)		2,988,303

Shares		Description	Value
Common Stocks — (continued)
Switzerland — (continued)
	31,255	Roche Holding AG (Pharmaceuticals, Biotechnology & Life Sciences)	$	5,053,580
	4,788	Straumann Holding AG (Registered) (Health Care Equipment & Services)(b)		1,242,614
	18,284	Syngenta AG (Registered) (Materials)		4,201,762
	23,981	Synthes, Inc. (Health Care Equipment & Services)		2,891,749
	225,557	UBS AG (Registered) (Diversified Financials)*		4,135,568
	87,799	Xstrata PLC (Materials)*		1,294,822
				24,647,984
United Kingdom — 24.6%
	387,745	Aegis Group PLC (Media)		695,224
	177,610	Amlin PLC (Insurance)		1,090,412
	665,500	Barclays PLC (Banks)*		3,943,970
	233,577	BG Group PLC (Energy)		4,071,007
	817,800	BP PLC (Energy)		7,244,641
	75,562	Charter International PLC (Capital Goods)		830,823
	107,317	Cookson Group PLC (Capital Goods)*		706,667
	732,631	Friends Provident Group PLC (Insurance)		976,175
	680,014	HSBC Holdings PLC (Banks)		7,786,493
	146,609	Imperial Tobacco Group PLC (Food, Beverage & Tobacco)		4,247,287
	111,588	Inmarsat PLC (Telecommunication Services)		986,158
	153,542	Invensys PLC (Capital Goods)		716,808
	95,219	Land Securities Group PLC (REIT)		953,374
	167,960	Morgan Crucible Co. PLC (Capital Goods)		462,518
	320,575	Reed Elsevier PLC (Media)		2,409,294
	92,070	Rio Tinto PLC (Materials)		3,913,636
	109,628	Schroders PLC (Diversified Financials)		1,918,682
	101,653	Serco Group PLC (Commercial & Professional Services)		822,121
	147,644	Shire PLC (Pharmaceuticals, Biotechnology & Life Sciences)		2,563,071
	335,532	SIG PLC (Capital Goods)		741,271
	65,251	Smiths Group PLC (Capital Goods)		929,392
	43,593	SOCO International PLC (Energy)*		988,760
	492,269	Standard Life PLC (Insurance)		1,727,770
	816,710	Tesco PLC (Food & Staples Retailing)		5,228,293
	63,079	The Berkeley Group Holdings PLC (Consumer Durables & Apparel)*		895,124
	192,839	Thomas Cook Group PLC (Consumer Services)		717,621
	714,281	Vodafone Group PLC (Telecommunication Services)		1,604,591
				59,171,183
TOTAL COMMON STOCKS			$	218,397,939

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRATEGIC INTERNATIONAL EQUITY FUND

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

Shares		Description	Value
Exchange Traded Fund — 5.3%
Australia — 5.3%
	564,267	iShares MSCI Australia Index Fund(b)	$	12,752,434

			Expiration
Units		Description	Month	Value
Warrant* — 0.0%
Italy — 0.0%
Mediobanca SpA (Diversified Financials)
	124,808		03/11	$	9,340

Shares		Rate			Value
Investment Company(c) — 3.4%
JPMorgan U.S. Government Money Market Fund — Capital Shares
	8,096,779		0.131	%	$	8,096,779
TOTAL INVESTMENTS BEFORE SECURITIES LENDING REINVESTMENT VEHICLE					$	239,256,492
Securities Lending Reinvestment Vehicle(c)(d) — 0.9%
Boston Global Investment Trust — Enhanced Portfolio
	2,241,558		0.177	%	$	2,239,317
TOTAL INVESTMENTS — 100.4%					$	241,495,809
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.4)%						(873,766	)
NET ASSETS — 100.0%					$	240,622,043

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 segregated as collateral for initial margin requirements on futures transactions.

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

(c) Variable rate security. Interest rate disclosed is that which is in effect at September 30, 2009.

(d) Represents an affiliated issuer.

Investment Abbreviations:
FDR	— Fiduciary Depositary Receipt
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 STRATEGIC INTERNATIONAL EQUITY FUND

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FUTURES CONTRACTS — At September 30, 2009, the following futures contracts were open:

	Number of		Settlement	Notional		Unrealized
Type	Contracts Long		Month	Value		Gain
SPI 200 Index		65	December 2009	$	6,805,181	$	220,842

TAX INFORMATION — At September 30, 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	$	218,972,537
Gross unrealized gain		25,075,996
Gross unrealized loss		(2,552,724	)
Net unrealized security gain	$	22,523,272

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 STRUCTURED SMALL CAP EQUITY FUND

Schedule of Investments

September 30, 2009 (Unaudited)

Shares		Description	Value
Common Stocks — 97.6%
Automobiles & Components — 1.2%
	5,857	BorgWarner, Inc.	$	177,233
	7,210	Cooper Tire & Rubber Co.		126,752
	48,664	Dana Holding Corp.*		331,402
	4,484	Gentex Corp.		63,448
	26,321	Modine Manufacturing Co.		243,996
	15,220	Superior Industries International, Inc.		216,124
	15,205	Tenneco, Inc.*		198,273
				1,357,228
Banks — 5.0%
	3,894	1st Source Corp.		63,472
	3,144	Associated Banc-Corp		35,905
	19,488	Astoria Financial Corp.(a)		215,148
	31,164	Cathay General Bancorp		252,117
	3,363	Chicopee Bancorp, Inc.*		44,425
	40,455	CVB Financial Corp.(a)		307,054
	24,110	First Bancorp		435,186
	6,132	First Bancorp, Inc.		114,055
	30,634	First Financial Northwest, Inc.		178,290
	3,923	First Midwest Bancorp, Inc.(a)		44,212
	13,335	Glacier Bancorp, Inc.		199,225
	17,329	Great Southern Bancorp, Inc.(a)		410,871
	53,188	International Bancshares Corp.(a)		867,496
	4,430	Investors Bancorp, Inc.*		47,002
	8,913	Marshall & Ilsley Corp.		71,928
	45,119	NewAlliance Bancshares, Inc.		482,773
	3,893	Northfield Bancorp, Inc.		49,830
	14,184	Renasant Corp.(a)		210,632
	17,648	Texas Capital Bancshares, Inc.*		297,192
	17,026	Trustmark Corp.(a)		324,345
	9,950	Washington Federal, Inc.(a)		167,757
	52,326	Wilshire Bancorp, Inc.		384,073
	22,728	Wintrust Financial Corp.(a)		635,475
				5,838,463
Capital Goods — 7.9%
	3,376	AGCO Corp.*		93,279
	10,628	Aircastle Ltd.		102,773
	15,858	Albany International Corp. Class A		307,645
	10,074	American Railcar Industries, Inc.		106,885
	6,857	American Woodmark Corp.(a)		132,614
	19,220	Apogee Enterprises, Inc.		288,684
	3,766	Armstrong World Industries, Inc.*		129,776
	40,229	Belden, Inc.		929,290
	18,280	BlueLinx Holdings, Inc.*		73,303
	5,323	Briggs & Stratton Corp.		103,319
	9,738	Builders FirstSource, Inc.*(a)		42,458
	9,097	Carlisle Cos., Inc.		308,479
	9,482	Ceradyne, Inc.*		173,805
	9,920	Dycom Industries, Inc.*		122,016
	8,338	Encore Wire Corp.		186,271
	16,571	EnerSys*		366,551
	10,505	EnPro Industries, Inc.*(a)		240,144
	3,510	Esterline Technologies Corp.*		137,627
	9,878	FreightCar America, Inc.		240,035
	4,758	Fushi Copperweld, Inc.*		40,253
	9,024	GrafTech International Ltd.*		132,653
	6,588	Insteel Industries, Inc.		78,727

Shares		Description	Value
Common Stocks — (continued)
Capital Goods — (continued)
	5,135	Integrated Electrical Services, Inc.*	$	41,337
	5,241	John Bean Technologies Corp.		95,229
	18,176	Kadant, Inc.*		220,475
	1,223	L.B. Foster Co. Class A*		37,399
	43,981	LSI Industries, Inc.		292,474
	14,702	Miller Industries, Inc.*		161,722
	10,718	Mueller Industries, Inc.		255,839
	7,003	NACCO Industries, Inc. Class A		420,670
	7,466	Polypore International, Inc.*		96,386
	3,960	Powell Industries, Inc.*		152,024
	5,349	Raven Industries, Inc.		142,979
	1,972	Regal-Beloit Corp.		90,140
	5,908	Sterling Construction Co., Inc.*		105,812
	57,829	Taser International, Inc.*(a)		272,953
	8,761	Tecumseh Products Co. Class A*		99,262
	4,987	Tennant Co.		144,922
	7,076	Thomas & Betts Corp.*		212,846
	6,235	Titan Machinery, Inc.*		78,062
	17,332	Toro Co.(a)		689,294
	12,911	Tredegar Corp.		187,210
	8,025	Trinity Industries, Inc.		137,950
	15,178	Universal Forest Products, Inc.(a)		598,924
	10,786	Woodward Governor Co.		261,668
				9,132,164
Commercial & Professional Services — 3.9%
	3,746	ATC Technology Corp.*		74,021
	17,398	CDI Corp.		244,442
	1,703	G&K Services, Inc. Class A		37,738
	34,448	HNI Corp.(a)		812,973
	14,348	ICT Group, Inc.*		150,654
	45,896	Kelly Services, Inc. Class A		564,521
	37,029	Kforce, Inc.*		445,089
	22,187	Kimball International, Inc. Class B		169,287
	95,041	MPS Group, Inc.*		999,831
	52,544	Spherion Corp.*		326,298
	16,135	Steelcase, Inc. Class A		100,198
	14,244	The Standard Register Co.		83,755
	8,181	TrueBlue, Inc.*		115,107
	5,163	United Stationers, Inc.*		245,810
	7,383	Viad Corp.		146,996
	3,913	Volt Information Sciences, Inc.*		47,817
				4,564,537
Consumer Durables & Apparel — 4.3%
	11,433	American Greetings Corp. Class A		254,956
	8,516	Blyth, Inc.		329,825
	8,875	Callaway Golf Co.(a)		67,539
	23,381	Carter’s, Inc.*		624,273
	2,590	Columbia Sportswear Co.(a)		106,604
	13,906	Crocs, Inc.*(a)		92,475
	1,806	CSS Industries, Inc.		35,705
	10,506	Ethan Allen Interiors, Inc.(a)		173,349
	5,909	Fossil, Inc.*		168,111
	15,453	Furniture Brands International, Inc.*		85,455
	2,503	Harman International Industries, Inc.(a)		84,802
	7,432	Hooker Furniture Corp.		100,332
	18,768	iRobot Corp.*		231,034

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRUCTURED SMALL CAP EQUITY FUND

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

Shares		Description	Value
Common Stocks — (continued)
Consumer Durables & Apparel — (continued)
	25,271	Kenneth Cole Productions, Inc. Class A	$	253,468
	16,538	Kid Brands, Inc.*		102,536
	25,954	La-Z-Boy, Inc.(a)		224,502
	7,319	Lululemon Athletica, Inc.*		166,507
	24,647	M/I Homes, Inc.*(a)		334,953
	3,985	Maidenform Brands, Inc.*		63,999
	6,784	Meritage Homes Corp.*(a)		137,715
	33,954	Nautilus, Inc.*(a)		57,722
	4,486	Oxford Industries, Inc.		88,374
	12,794	Perry Ellis International, Inc.*		205,216
	13,487	Polaris Industries, Inc.(a)		550,000
	24,832	Sealy Corp.*		79,462
	7,802	Skechers U.S.A., Inc. Class A*		133,726
	17,799	Standard Pacific Corp.*		65,678
	10,914	The Timberland Co. Class A*		151,923
	1,565	Wolverine World Wide, Inc.		38,874
				5,009,115
Consumer Services — 2.6%
	2,265	Bally Technologies, Inc.*		86,908
	6,864	Boyd Gaming Corp.*(a)		75,024
	5,415	Caribou Coffee Co., Inc.*		39,096
	18,522	Choice Hotels International, Inc.		575,293
	13,432	Domino’s Pizza, Inc.*		118,739
	6,142	Gaylord Entertainment Co.*		123,454
	18,961	Krispy Kreme Doughnuts, Inc.*		67,691
	9,320	Landry’s Restaurants, Inc.*		97,860
	43,248	O’Charleys, Inc.*		405,234
	21,172	Papa John’s International, Inc.*		520,196
	1,380	Penn National Gaming, Inc.*		38,171
	5,172	Pre-Paid Legal Services, Inc.*		262,738
	3,871	Regis Corp.		60,000
	3,235	Steiner Leisure Ltd.*		115,684
	25,585	The Steak N Shake Co.*		301,135
	8,737	Wyndham Worldwide Corp.		142,588
				3,029,811
Diversified Financials — 5.3%
	60,252	Advance America, Cash Advance Centers, Inc.		337,411
	43,706	Allied Capital Corp.(a)		134,177
	14,699	American Capital Ltd.		47,478
	8,354	Asset Acceptance Capital Corp.*		60,566
	21,214	BlackRock Kelso Capital Corp.		157,408
	6,241	Cash America International, Inc.(a)		188,229
	12,358	Cohen & Steers, Inc.		296,592
	43,359	Compass Diversified Holdings		453,969
	677	Diamond Hill Investment Group, Inc.*		39,246
	23,422	E*Trade Financial Corp.*		40,988
	6,119	Eaton Vance Corp.		171,271
	6,614	Encore Capital Group, Inc.*		88,958
	3,500	Federated Investors, Inc. Class B		92,295
	20,163	First Cash Financial Services, Inc.*		345,392
	9,819	GAMCO Investors, Inc. Class A		448,728
	17,521	Gladstone Capital Corp.		156,463
	25,870	Hercules Technology Growth Capital, Inc.		254,043
	8,351	Medallion Financial Corp.		69,814

Shares		Description	Value
Common Stocks — (continued)
Diversified Financials — (continued)
	11,362	NewStar Financial, Inc.*	$	37,381
	36,289	NGP Capital Resources Co.		263,458
	1,791	Oppenheimer Holdings, Inc. Class A		43,611
	38,464	PHH Corp.*(a)		763,126
	2,575	Piper Jaffray Cos, Inc.*		122,879
	9,062	Portfolio Recovery Associates, Inc.*(a)		410,780
	60,795	Primus Guaranty Ltd.*(a)		259,595
	16,881	Pzena Investment Management, Inc. Class A*		137,918
	10,297	QC Holdings, Inc.		69,505
	13,898	Rewards Network, Inc.*		190,959
	4,200	SEI Investments Co.(a)		82,693
	18,183	TICC Capital Corp.		91,642
	12,189	World Acceptance Corp.*		307,285
				6,163,860
Energy — 5.0%
	9,923	Alpha Natural Resources, Inc.*		348,297
	6,557	Basic Energy Services, Inc.*		55,669
	14,255	Berry Petroleum Co. Class A(a)		381,749
	12,110	Bill Barrett Corp.*(a)		397,087
	18,066	Cimarex Energy Co.(a)		782,619
	7,337	Dawson Geophysical Co.*		200,887
	4,045	Exterran Holdings, Inc.*(a)		96,028
	18,384	Global Industries Ltd.*		174,648
	13,742	Gulfport Energy Corp.*		120,105
	24,068	Mariner Energy, Inc.*		341,284
	2,682	Oil States International, Inc.*		94,219
	8,765	Pioneer Drilling Co.*		64,335
	2,841	Rosetta Resources, Inc.*		41,734
	13,613	RPC, Inc.		142,664
	1,205	SEACOR Holdings, Inc.*		98,364
	5,948	St. Mary Land & Exploration Co.(a)		193,072
	3,757	Stone Energy Corp.*		61,277
	4,657	Superior Well Services, Inc.*		45,080
	8,101	Swift Energy Co.*(a)		191,832
	5,957	Unit Corp.*		245,726
	42,694	W&T Offshore, Inc.		499,947
	25,560	Willbros Group, Inc.*		389,279
	17,467	World Fuel Services Corp.(a)		839,639
				5,805,541
Food & Staples Retailing — 0.3%
	3,711	Casey’s General Stores, Inc.		116,451
	1,411	Weis Markets, Inc.		45,081
	16,081	Winn-Dixie Stores, Inc.*(a)		210,983
				372,515
Food, Beverage & Tobacco — 2.2%
	29,640	Alliance One International, Inc.*		132,787
	2,512	Boston Beer Co., Inc. Class A*		93,145
	20,357	Chiquita Brands International, Inc.*(a)		328,969
	1,405	Hansen Natural Corp.*(a)		51,620
	10,210	J&J Snack Foods Corp.		440,970
	9,164	Lancaster Colony Corp.		469,838
	1,599	Lance, Inc.		41,286
	35,870	National Beverage Corp.*		412,864
	16,277	Sanderson Farms, Inc.(a)		612,666
				2,584,145

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRUCTURED SMALL CAP EQUITY FUND

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

Shares		Description	Value
Common Stocks — (continued)
Health Care Equipment & Services — 7.1%
	32,362	Align Technology, Inc.*(a)		460,188
	36,608	AMN Healthcare Services, Inc.*		348,142
	3,409	Analogic Corp.		126,201
	10,397	Angiodynamics, Inc.*		143,271
	8,101	Aspect Medical Systems, Inc.*		97,050
	12,656	Assisted Living Concepts, Inc. Class A*		262,232
	6,193	Beckman Coulter, Inc.		426,945
	10,298	BioScrip, Inc.*		69,615
	1,326	Computer Programs & Systems, Inc.		54,910
	1,277	Corvel Corp.*		36,267
	11,342	Cross Country Healthcare, Inc.*		105,594
	20,078	HealthSpring, Inc.*		245,956
	14,631	Hill-Rom Holdings, Inc.		318,663
	14,419	Idexx Laboratories, Inc.*		720,950
	4,106	Immucor, Inc.*		72,676
	12,746	Invacare Corp.		283,981
	17,287	IRIS International, Inc.*		195,343
	28,383	Kindred Healthcare, Inc.*		460,656
	9,633	LCA-Vision, Inc.*		67,527
	10,274	LifePoint Hospitals, Inc.*		278,014
	7,264	Magellan Health Services, Inc.*(a)		225,620
	15,404	Medcath Corp.*		135,093
	21,861	Medical Action Industries, Inc.*		263,862
	6,193	MedQuist, Inc.		39,388
	16,603	Molina Healthcare, Inc.*(a)		343,516
	65,501	Nighthawk Radiology Holdings, Inc.*		473,572
	858	Owens & Minor, Inc.		38,825
	47,718	PharMerica Corp.*(a)		886,123
	13,288	RTI Biologics, Inc.*		57,803
	10,248	Somanetics Corp.*		165,198
	5,611	STERIS Corp.		170,855
	3,056	Teleflex, Inc.		147,635
	46,074	Theragenics Corp.*		73,718
	9,664	TomoTherapy, Inc.*		41,845
	26,408	Universal American Corp.*(a)		248,763
	2,888	West Pharmaceutical Services, Inc.(a)		117,282
				8,203,279
Household & Personal Products — 0.7%
	47,269	Central Garden and Pet Co. Class A*		516,650
	46,558	Mannatech, Inc.		178,317
	16,033	Prestige Brands Holdings, Inc.*		112,873
				807,840
Insurance — 2.0%
	55,451	American Equity Investment Life Holding Co.		389,266
	2,134	Aspen Insurance Holdings Ltd.		56,487
	7,763	Assured Guaranty Ltd.		150,757
	26,920	CNA Surety Corp.*		436,104
	29,072	Conseco, Inc.*(a)		152,919
	17,147	Delphi Financial Group, Inc. Class A		388,037
	3,165	FBL Financial Group, Inc. Class A		61,496
	2,992	First Mercury Financial Corp.		39,853

Shares		Description	Value
Common Stocks — (continued)
Insurance — (continued)
	32,955	MBIA, Inc.*	$	255,731
	11,194	National Financial Partners Corp.*		97,612
	1,519	ProAssurance Corp.*		79,277
	3,832	Protective Life Corp.		82,081
	1,382	StanCorp Financial Group, Inc.		55,791
	5,041	Unitrin, Inc.		98,249
				2,343,660
Materials — 4.9%
	22,550	A. Schulman, Inc.		449,422
	3,028	AEP Industries, Inc.*		120,817
	10,179	AM Castle & Co.		101,179
	4,626	Balchem Corp.		121,664
	23,549	Boise, Inc.*		124,339
	15,877	Brush Engineered Materials, Inc.*(a)		388,351
	6,660	Buckeye Technologies, Inc.*		71,462
	1,915	Bway Holding Co.*		35,447
	6,284	Clearwater Paper Corp.*		259,718
	13,477	Coeur d’Alene Mines Corp.*		276,278
	8,771	Domtar Corp.*(a)		308,915
	3,548	Glatfelter		40,731
	1,304	Haynes International, Inc.*		41,493
	9,186	Huntsman Corp.		83,684
	11,661	Kaiser Aluminum Corp.		423,994
	37,440	KapStone Paper and Packaging Corp.*		304,762
	60,857	Louisiana-Pacific Corp.*(a)		405,916
	808	Minerals Technologies, Inc.		38,428
	10,611	Myers Industries, Inc.		114,280
	4,156	Neenah Paper, Inc.		48,916
	1,220	Olympic Steel, Inc.		35,002
	16,543	OM Group, Inc.*		502,742
	27,536	Omnova Solutions, Inc.*		178,433
	46,198	PolyOne Corp.*		308,141
	24,480	Spartech Corp.		263,650
	18,899	Stillwater Mining Co.*		127,001
	21,065	Sutor Technology Group Ltd.*		66,565
	8,319	Wausau Paper Corp.		83,190
	1,434	Westlake Chemical Corp.(a)		36,854
	22,103	Worthington Industries, Inc.(a)		307,232
	3,037	Zep, Inc.		49,351
				5,717,957
Media — 0.8%
	2,650	Arbitron, Inc.(a)		55,014
	8,314	Ascent Media Corp. Class A*		212,838
	22,666	EW Scripps Co. Class A*		169,995
	9,928	Harte-Hanks, Inc.		137,304
	30,907	Journal Communications, Inc. Class A		113,738
	23,320	Live Nation, Inc.*		190,991
	1,743	Scholastic Corp.		42,425
				922,305
Pharmaceuticals, Biotechnology & Life Sciences — 7.1%
	86,215	Accelrys, Inc.*		500,047
	15,516	Albany Molecular Research, Inc.*		134,369
	43,744	Alkermes, Inc.*(a)		402,007
	6,429	Biodel, Inc.*		34,524
	5,380	Bio-Rad Laboratories, Inc. Class A*		494,314

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRUCTURED SMALL CAP EQUITY FUND

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

Shares		Description	Value
Common Stocks — (continued)
Pharmaceuticals, Biotechnology & Life Sciences — (continued)
	5,624	Cambrex Corp.*	$	35,431
	6,911	Celera Corp.*		43,056
	16,390	Cepheid, Inc.*(a)		216,676
	26,809	Cubist Pharmaceuticals, Inc.*(a)		541,542
	48,300	Depomed, Inc.*		211,071
	954	Dionex Corp.*		61,981
	21,492	Emergent Biosolutions, Inc.*		379,549
	20,575	Enzon Pharmaceuticals, Inc.*(a)		169,744
	27,824	eResearchTechnology, Inc.*		194,768
	9,077	Genomic Health, Inc.*(a)		198,423
	13,625	Human Genome Sciences, Inc.*		256,423
	100,993	Insmed, Inc.*		82,814
	54,625	King Pharmaceuticals, Inc.*		588,311
	24,839	Martek Biosciences Corp.*(a)		561,113
	25,306	Maxygen, Inc.*		169,297
	5,542	Myriad Genetics, Inc.*		151,851
	65,495	Nabi Biopharmaceuticals*		235,127
	4,531	Onyx Pharmaceuticals, Inc.*		135,794
	10,994	OSI Pharmaceuticals, Inc.*(a)		388,088
	111,747	PDL BioPharma, Inc.(a)		880,566
	55,984	Progenics Pharmaceuticals, Inc.*(a)		293,356
	72,624	Questcor Pharmaceuticals, Inc.*		400,884
	7,732	Regeneron Pharmaceuticals, Inc.*		149,228
	23,306	Synta Pharmaceuticals Corp.*(a)		72,249
	4,271	Varian, Inc.*		218,077
				8,200,680
Real Estate Investment Trust — 7.1%
	37,402	American Campus Communities, Inc.(a)		1,004,244
	8,189	Associated Estates Realty Corp.		78,778
	12,588	Care Investment Trust, Inc.		96,550
	24,843	Colonial Properties Trust(a)		241,722
	19,597	DiamondRock Hospitality Co. *		158,736
	3,750	Digital Realty Trust, Inc.		171,413
	1,939	EastGroup Properties, Inc.		74,109
	3,059	Equity One, Inc.(a)		47,935
	10,365	Federal Realty Investment Trust(a)		636,100
	13,617	First Industrial Realty Trust, Inc.		71,489
	52,101	Franklin Street Properties Corp.		682,523
	7,762	Health Care REIT, Inc.		323,054
	2,372	Healthcare Realty Trust, Inc.		50,120
	2,338	Highwoods Properties, Inc.(a)		73,530
	11,817	LTC Properties, Inc.		284,081
	5,958	MFA Financial, Inc.		47,426
	4,981	Mid-America Apartment Communities, Inc.		224,793
	3,157	National Health Investors, Inc.		99,919
	15,469	Nationwide Health Properties, Inc.(a)		479,384
	54,522	Omega Healthcare Investors, Inc.		873,442
	21,847	Rayonier, Inc.(a)		893,761
	38,774	Realty Income Corp.(a)		994,553
	6,875	Sun Communities, Inc.(a)		147,950
	12,015	The Macerich Co.		364,415
	3,365	Urstadt Biddle Properties, Inc. Class A		49,095
				8,169,122

Shares		Description	Value
Common Stocks — (continued)
Retailing — 4.5%
	48,231	99 Cents Only Stores*(a)		648,707
	4,341	Aaron’s, Inc.		114,602
	19,040	Aeropostale, Inc. *(a)(b)		827,669
	2,518	America’s Car-Mart, Inc.*		60,306
	6,259	Blue Nile, Inc.*		388,809
	14,179	Brown Shoe Co., Inc.		113,716
	15,782	Build-A-Bear Workshop, Inc.*		76,858
	11,618	Charlotte Russe Holding, Inc.*		203,315
	9,943	Dress Barn, Inc.*(a)		178,278
	7,359	DSW, Inc. Class A*		117,523
	36,766	Fred’s, Inc. Class A		468,031
	7,534	Gymboree Corp.*		364,495
	4,750	J. Crew Group, Inc.*		170,145
	13,093	Jo-Ann Stores, Inc.*(a)		351,285
	10,359	Kirkland’s, Inc.*		147,616
	8,822	Netflix, Inc.*(a)		407,312
	6,000	PetSmart, Inc.(a)		130,500
	35,097	Stage Stores, Inc.		454,857
				5,224,024
Semiconductors & Semiconductor Equipment — 4.4%
	24,308	Advanced Analogic Technologies, Inc.*		96,503
	102,994	Amkor Technology, Inc.*(a)		708,599
	32,648	Applied Micro Circuits Corp.*		326,154
	6,149	Cohu, Inc.		83,380
	22,265	DSP Group, Inc.*		181,237
	32,547	Exar Corp.*		239,220
	11,501	FEI Co.*		283,500
	13,059	Integrated Device Technology, Inc.*		88,279
	6,829	IXYS Corp.		58,115
	180,934	Lattice Semiconductor Corp.*		407,101
	25,618	Micrel, Inc.		208,787
	40,718	MIPS Technologies, Inc.*		153,507
	2,283	Omnivision Technologies, Inc.*(a)		37,167
	38,391	Photronics, Inc.*(a)		181,973
	38,976	RF Micro Devices, Inc.*		211,640
	5,526	Semitool, Inc.*		46,695
	17,593	Sigma Designs, Inc.*(a)		255,626
	145,879	Silicon Image, Inc.*		354,486
	109,498	Silicon Storage Technology, Inc.*		264,985
	7,496	Standard Microsystems Corp.*		173,982
	7,670	Ultratech, Inc.*		101,474
	1,934	Veeco Instruments, Inc.*		45,101
	16,455	Volterra Semiconductor Corp.*		302,278
	27,663	Zoran Corp.*		318,678
				5,128,467
Software & Services — 9.2%
	17,628	Actuate Corp.*		101,890
	33,825	Acxiom Corp.*		319,984
	7,563	Advent Software, Inc.*(a)		304,411
	45,908	Art Technology Group, Inc.*		177,205
	15,335	Blackbaud, Inc.(a)		355,772

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRUCTURED SMALL CAP EQUITY FUND

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

Shares		Description	Value
Common Stocks — (continued)
Software & Services — (continued)
	17,947	Bottomline Technologies, Inc.*	$	231,516
	11,258	Chordiant Software, Inc.*		43,794
	80,925	Ciber, Inc.*		323,700
	21,243	CommVault Systems, Inc.*		440,792
	5,287	Convergys Corp.*		52,553
	11,209	CSG Systems International, Inc.*		179,456
	3,138	DealerTrack Holdings, Inc.*		59,340
	19,469	DivX, Inc.*		106,301
	53,208	EarthLink, Inc.		447,479
	7,408	Epicor Software Corp.*		47,189
	11,841	ExlService Holdings, Inc.*		175,957
	8,005	FalconStor Software, Inc.*		39,785
	28,894	Internap Network Services Corp.*(a)		92,750
	51,495	iPass, Inc.*		71,063
	6,284	JDA Software Group, Inc.*		137,871
	16,745	Kenexa Corp.*(a)		225,723
	7,932	Lawson Software, Inc.*		49,496
	121,557	Lionbridge Technologies, Inc.*		316,048
	30,437	LivePerson, Inc.*		153,402
	31,847	Manhattan Associates, Inc.*		643,309
	63,701	Marchex, Inc. Class B		312,772
	35,598	Mentor Graphics Corp.*(a)		331,417
	7,086	MicroStrategy, Inc. Class A*		506,932
	23,521	ModusLink Global Solutions, Inc.*		190,285
	9,747	Ness Technologies, Inc.*		76,904
	5,292	NeuStar, Inc. Class A*		119,599
	78,762	OpenTV Corp. Class A*		108,692
	20,141	Parametric Technology Corp.*		278,349
	8,396	Perficient, Inc.*		69,435
	1,918	Perot Systems Corp. Class A*		56,965
	12,384	PROS Holdings, Inc.*		104,273
	18,073	QAD, Inc.		82,232
	119,530	RealNetworks, Inc.*		444,652
	25,007	Renaissance Learning, Inc.(a)		248,570
	5,864	StarTek, Inc.*		50,899
	65,721	Symyx Technologies, Inc.*		435,073
	24,929	Synopsys, Inc.*(a)		558,908
	11,804	TeleTech Holdings, Inc.*		201,376
	9,582	THQ, Inc.*		65,541
	5,114	TIBCO Software, Inc.*(a)		48,532
	16,094	Ultimate Software Group, Inc.*		462,220
	14,115	Unica Corp.*		107,556
	5,049	United Online, Inc.		40,594
	25,819	Valueclick, Inc.*(a)		340,553
	18,123	VeriFone Holdings, Inc.*(a)		287,974
				10,627,089
Technology Hardware & Equipment — 6.6%
	4,415	ADC Telecommunications, Inc.*		36,821
	14,747	ADTRAN, Inc.(a)		362,039
	20,814	Agilysys, Inc.		137,164
	7,713	Aruba Networks, Inc.*(a)		68,183
	6,975	Avid Technology, Inc.*		98,278
	1,860	Avocent Corp.*		37,702
	14,154	Bel Fuse, Inc. Class B		269,351
	19,797	Benchmark Electronics, Inc.*		356,346
	53,366	Brightpoint, Inc.*		466,953

Shares		Description	Value
Common Stocks — (continued)
Technology Hardware & Equipment — (continued)
	19,850	Cray, Inc.*	$	165,350
	12,906	CTS Corp.		120,026
	5,229	EchoStar Corp. Class A*		96,527
	22,783	Electronics for Imaging, Inc.*		256,764
	27,515	Emulex Corp.*		283,129
	56,797	Extreme Networks*		159,032
	16,174	Hutchinson Technology, Inc.*(a)		114,835
	38,302	Imation Corp.		355,060
	32,833	Ingram Micro, Inc. Class A*(a)		553,236
	17,003	Insight Enterprises, Inc.*		207,607
	22,026	Isilon Systems, Inc.*		134,359
	15,996	Ixia*		109,733
	6,450	Keithley Instruments, Inc.		35,733
	4,605	Loral Space & Communications, Inc.*		126,545
	21,246	Methode Electronics, Inc.		184,203
	5,306	Netgear, Inc.*		97,365
	10,906	Novatel Wireless, Inc.*(a)		123,892
	17,078	PC-Tel, Inc.*		106,738
	14,998	Plantronics, Inc.		402,096
	39,900	Powerwave Technologies, Inc.*		63,840
	131,842	Quantum Corp.*		166,121
	17,961	Radisys Corp.*		156,081
	11,181	Seachange International, Inc.*		83,857
	56,527	ShoreTel, Inc.*(a)		441,476
	13,577	Smart Modular Technologies (WWH), Inc.*		64,627
	26,723	Sonus Networks, Inc.*		56,653
	6,169	STEC, Inc.*(a)		181,307
	11,214	Super Micro Computer, Inc.*		94,870
	30,589	Symmetricom, Inc.*		158,451
	5,613	SYNNEX Corp.*		171,084
	8,506	Tech Data Corp.*		353,935
	18,178	Tollgrade Communications, Inc.*		117,793
	8,910	Vishay Intertechnology, Inc.*		70,389
				7,645,551
Telecommunication Services — 0.5%
	6,220	Syniverse Holdings, Inc.*		108,850
	32,309	USA Mobility, Inc.		416,140
				524,990
Transportation — 3.8%
	8,266	Alaska Air Group, Inc.*		221,446
	13,662	Allegiant Travel Co.*(a)		520,386
	1,183	Amerco, Inc.*		54,252
	4,563	American Commercial Lines, Inc.*		132,875
	9,237	Arkansas Best Corp.		276,556
	20,008	Dollar Thrifty Automotive Group, Inc.*(a)		491,997
	3,706	Dynamex, Inc.*		60,519
	6,303	Horizon Lines, Inc. Class A		40,024
	2,304	J.B. Hunt Transport Services, Inc.(a)		74,028
	4,974	Landstar System, Inc.		189,310
	20,638	Marten Transport Ltd.*		352,084
	10,859	Pacer International, Inc.		41,916
	14,955	Saia, Inc.*		240,476
	29,999	SkyWest, Inc.		497,383
	7,243	Universal Truckload Services, Inc.		119,582

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRUCTURED SMALL CAP EQUITY FUND

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

Shares		Description	Value
Common Stocks — (continued)
Transportation — (continued)
	16,876	UTi Worldwide, Inc.	$	244,364
	43,146	Werner Enterprises, Inc.(a)		803,810
				4,361,008
Utilities — 1.2%
	18,322	Black Hills Corp.(a)		461,165
	2,400	Energen Corp.		103,440
	7,350	Integrys Energy Group, Inc.		263,791
	17,329	MDU Resources Group, Inc.		361,310
	7,975	Southwest Gas Corp.		204,000
				1,393,706
TOTAL COMMON STOCKS			$	113,127,057

Shares		Rate			Value
Investment Company(c) — 2.7%
JPMorgan U.S. Government Money Market Fund — Capital Shares
	3,071,911		0.131	%	$	3,071,911
TOTAL INVESTMENTS BEFORE SECURITIES LENDING REINVESTMENT VEHICLE					$	116,198,968
Securities Lending Reinvestment Vehicle(c)(d) — 23.5%
Boston Global Investment Trust — Enhanced Portfolio II
	27,267,847		0.242	%	$	27,267,847
TOTAL INVESTMENTS — 123.8%					$	143,466,815
LIABILITIES IN EXCESS OF OTHER ASSETS — (23.8)%						(27,549,738	)
NET ASSETS — 100.0%					$	115,917,077

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.

(c) Variable rate security. Interest rate disclosed is that which is in effect at September 30, 2009.

(d) Represents an affiliated issuer.

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)

September 30, 2009 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FUTURES CONTRACTS — At September 30, 2009, the following futures contracts were open:

	Number of		Settlement	Notional		Unrealized
Type	Contracts Long		Month	Value		Gain
Russell 2000 Mini Index		44	December 2009	$	2,653,200	$	33,801

TAX INFORMATION — At September 30, 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	$	130,787,191
Gross unrealized gain		15,674,738
Gross unrealized loss		(2,995,114	)
Net unrealized security gain	$	12,679,624

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 STRUCTURED U.S. EQUITY FUND

Schedule of Investments

September 30, 2009 (Unaudited)

Shares		Description	Value
Common Stocks — 97.8%
Automobiles & Components — 1.2%
	30,992	BorgWarner, Inc.	$	937,818
	19,786	Federal Mogul Corp.*		238,817
	34,914	Ford Motor Co.*		251,730
	120,445	Johnson Controls, Inc.		3,078,574
	51,386	TRW Automotive Holdings Corp.*(a)		860,716
				5,367,655
Banks — 3.1%
	64,532	BB&T Corp.		1,757,852
	39,133	Fifth Third Bancorp		396,417
	17,565	Hudson City Bancorp, Inc.		230,980
	122,723	U.S. Bancorp		2,682,725
	314,295	Wells Fargo & Co.		8,856,833
				13,924,807
Capital Goods — 6.2%
	19,095	AGCO Corp.*(b)		527,595
	8,656	Armstrong World Industries, Inc.*		298,286
	11,930	Cummins, Inc.		534,583
	23,869	Eaton Corp.		1,350,747
	84,411	Emerson Electric Co.		3,383,193
	385,536	General Electric Co.		6,330,501
	9,491	Honeywell International, Inc.		352,591
	58,260	Lockheed Martin Corp.		4,548,941
	51,687	Northrop Grumman Corp.		2,674,802
	47,216	Toro Co.(a)		1,877,780
	41,507	Tyco International Ltd.		1,431,161
	69,687	United Technologies Corp.		4,246,029
	13,097	URS Corp.*		571,684
				28,127,893
Commercial & Professional Services(a) — 0.4%
	31,539	Manpower, Inc.		1,788,577
Consumer Durables & Apparel(a) — 0.3%
	42,272	Harman International Industries, Inc.		1,432,175
Consumer Services — 0.8%
	78,694	Carnival Corp.		2,618,936
	24,953	Marriott International, Inc. Class A(a)		688,453
	10,555	Wyndham Worldwide Corp.		172,258
				3,479,647
Diversified Financials — 6.8%
	32,107	AmeriCredit Corp.*		506,970
	492,585	Bank of America Corp.		8,334,538
	1,034,379	Citigroup, Inc.		5,006,394
	13,142	Discover Financial Services		213,295
	7,022	Eaton Vance Corp.(a)		196,546
	41,224	Federated Investors, Inc. Class B(a)		1,087,077
	104,907	JPMorgan Chase & Co.		4,597,025
	99,677	SEI Investments Co.(a)		1,961,643
	129,117	T. Rowe Price Group, Inc.(a)		5,900,647
	103,587	The Bank of New York Mellon Corp.		3,002,987
				30,807,122
Energy — 11.8%
	54,460	Alpha Natural Resources, Inc.*		1,911,546
	101,674	Chevron Corp.		7,160,900
	39,753	Cimarex Energy Co.(a)		1,722,100
	164,035	ConocoPhillips		7,407,821
	175,635	Devon Energy Corp.		11,825,505

Shares		Description	Value
Common Stocks — (continued)
Energy — (continued)
	38,047	Exterran Holdings, Inc.*(a)	$	903,236
	226,904	Exxon Mobil Corp.		15,567,883
	12,621	Occidental Petroleum Corp.		989,486
	42,318	Patterson-UTI Energy, Inc.(a)		639,002
	58,600	Schlumberger Ltd.		3,492,560
	55,486	Valero Energy Corp.		1,075,873
	16,929	XTO Energy, Inc.		699,506
				53,395,418
Food & Staples Retailing — 2.6%
	61,926	CVS/Caremark Corp.		2,213,235
	85,040	Walgreen Co.		3,186,449
	126,622	Wal-Mart Stores, Inc.		6,215,874
				11,615,558
Food, Beverage & Tobacco — 6.0%
	142,330	Archer-Daniels-Midland Co.		4,158,883
	24,154	Bunge Ltd.(a)		1,512,282
	76,378	Hansen Natural Corp.*(a)		2,806,128
	23,441	Hormel Foods Corp.		832,624
	128,632	Lorillard, Inc.		9,557,358
	33,063	PepsiCo, Inc.		1,939,475
	76,615	Philip Morris International, Inc.		3,734,215
	23,197	The Coca-Cola Co.		1,245,679
	108,702	Tyson Foods, Inc. Class A(a)		1,372,906
				27,159,550
Health Care Equipment & Services — 2.2%
	47,785	Boston Scientific Corp.*		506,043
	87,508	Cardinal Health, Inc.		2,345,214
	27,829	CareFusion Corp.*		606,672
	88,839	Coventry Health Care, Inc.*		1,773,227
	2,947	Idexx Laboratories, Inc.*		147,350
	10,695	Medco Health Solutions, Inc.*		591,541
	16,580	Stryker Corp.		753,229
	92,985	UnitedHealth Group, Inc.		2,328,344
	19,108	WellPoint, Inc.*		904,955
				9,956,575
Household & Personal Products — 2.1%
	50,134	Colgate-Palmolive Co.		3,824,221
	97,791	The Procter & Gamble Co.		5,664,055
				9,488,276
Insurance — 2.7%
	69,284	MBIA, Inc.*		537,644
	90,335	MetLife, Inc.		3,439,053
	40,117	Prudential Financial, Inc.		2,002,239
	11,525	Torchmark Corp.		500,531
	271,349	Unum Group(a)		5,817,723
				12,297,190
Materials — 3.5%
	44,735	Alcoa, Inc.		586,923
	32,319	Commercial Metals Co.		578,510
	39,746	E.I. du Pont de Nemours & Co.		1,277,437
	33,474	Eastman Chemical Co.		1,792,198
	76,510	International Paper Co.		1,700,817
	40,016	Monsanto Co.		3,097,238
	8,423	Newmont Mining Corp.		370,781
	56,359	Nucor Corp.		2,649,437

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

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

Shares		Description	Value
Common Stocks — (continued)
Materials — (continued)
	10,060	Packaging Corp. of America	$	205,224
	55,136	Reliance Steel & Aluminum Co.		2,346,588
	23,412	Schnitzer Steel Industries, Inc. Class A		1,246,689
				15,851,842
Media — 2.9%
	174,637	Comcast Corp. Class A		2,949,619
	31,491	News Corp. Class A		377,577
	19,861	News Corp. Class B(a)		277,855
	46,518	Scripps Networks Interactive, Inc. Class A		1,718,840
	270,978	Time Warner, Inc.		7,798,747
				13,122,638
Pharmaceuticals, Biotechnology & Life Sciences — 11.1%
	90,278	Amgen, Inc.*		5,437,444
	117,610	Biogen Idec, Inc.*		5,941,657
	339,823	Eli Lilly & Co.		11,224,354
	63,409	Forest Laboratories, Inc.*		1,866,761
	2,851	Genzyme Corp.*		161,737
	150,820	Gilead Sciences, Inc.*		7,025,195
	58,146	Johnson & Johnson		3,540,510
	57,489	Merck & Co., Inc.(a)		1,818,377
	607,925	Pfizer, Inc.		10,061,159
	93,171	Schering-Plough Corp.		2,632,081
	13,063	Thermo Fisher Scientific, Inc.*		570,461
				50,279,736
Real Estate Investment Trust — 2.7%
	17,543	AvalonBay Communities, Inc.(a)		1,275,902
	9,315	Federal Realty Investment Trust(a)		571,662
	5,789	Nationwide Health Properties, Inc.		179,401
	42,045	Plum Creek Timber Co., Inc.(a)		1,288,259
	34,806	Public Storage, Inc.		2,618,803
	95,400	Rayonier, Inc.(a)		3,902,814
	32,179	Simon Property Group, Inc.		2,234,188
				12,071,029
Retailing — 4.0%
	9,228	Aeropostale, Inc.*(a)		401,141
	29,927	Amazon.com, Inc.*		2,793,985
	15,661	Big Lots, Inc.*(a)		391,838
	63,051	Dollar Tree, Inc.*		3,069,323
	71,201	Family Dollar Stores, Inc.		1,879,706
	15,336	Kohl’s Corp.*		874,919
	26,109	Liberty Media Corp. — Interactive Class A*		286,416
	23,479	PetSmart, Inc.(a)		510,668
	81,736	Ross Stores, Inc.		3,904,529
	103,005	The TJX Companies, Inc.		3,826,636
				17,939,161
Semiconductors & Semiconductor Equipment — 3.2%
	15,968	Broadcom Corp. Class A*		490,058
	69,291	Cypress Semiconductor Corp.*(a)		715,776
	357,925	Intel Corp.		7,004,592
	42,754	LSI Corp.*		234,720

Shares		Description	Value
Common Stocks — (continued)
Semiconductors & Semiconductor Equipment — (continued)
	255,105	Texas Instruments, Inc.	$	6,043,437
				14,488,583
Software & Services — 7.3%
	188,525	Accenture PLC Class A		7,026,327
	7,662	Google, Inc. Class A*		3,799,203
	669,191	Microsoft Corp.		17,325,355
	138,427	Oracle Corp.		2,884,818
	44,922	Symantec Corp.*		739,865
	59,113	VeriSign, Inc.*(a)		1,400,387
				33,175,955
Technology Hardware & Equipment — 9.3%
	19,977	Arrow Electronics, Inc.*(a)		562,352
	42,862	Avnet, Inc.*(a)		1,113,126
	271,802	Cisco Systems, Inc.*		6,398,219
	339,305	Dell, Inc.*		5,177,794
	96,398	EMC Corp.*		1,642,622
	166,307	Ingram Micro, Inc. Class A*(a)		2,802,273
	37,336	International Business Machines Corp.		4,465,759
	121,712	QUALCOMM, Inc.		5,474,606
	9,437	SanDisk Corp.*		204,783
	525,194	Seagate Technology(a)		7,988,201
	121,054	Sun Microsystems, Inc.*(a)		1,100,381
	90,480	Tellabs, Inc.*		626,122
	30,472	Tyco Electronics Ltd.		678,916
	107,185	Western Digital Corp.*		3,915,468
				42,150,622
Telecommunication Services — 2.7%
	301,508	AT&T, Inc.(b)		8,143,731
	766,297	Sprint Nextel Corp.*		3,026,873
	34,442	Verizon Communications, Inc.		1,042,560
				12,213,164
Transportation — 3.0%
	19,420	Expeditors International of Washington, Inc.		682,613
	33,766	FedEx Corp.		2,539,879
	182,867	United Parcel Service, Inc. Class B		10,326,499
				13,548,991
Utilities — 1.9%
	259,042	Duke Energy Corp.		4,077,321
	92,714	Exelon Corp.		4,600,469
				8,677,790
TOTAL COMMON STOCKS			$	442,359,954

Shares		Rate			Value
Investment Company(c) — 2.5%
JPMorgan U.S. Government Money Market Fund — Capital Shares
	11,327,760		0.131	%	$	11,327,760
TOTAL INVESTMENTS BEFORE SECURITIES LENDING REINVESTMENT VEHICLE					$	453,687,714

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

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

Shares		Rate			Value
Securities Lending Reinvestment Vehicle(c)(d) — 6.9%
Boston Global Investment Trust — Enhanced Portfolio II
	31,078,922		0.242	%	$	31,078,922
TOTAL INVESTMENTS — 107.2%					$	484,766,636
LIABILITIES IN EXCESS OF OTHER ASSETS — (7.2)%						(32,439,616	)
NET ASSETS — 100.0%					$	452,327,020

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.

(c) Variable rate security. Interest rate disclosed is that which is in effect at September 30, 2009.

(d) Represents an affiliated issuer.

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)

September 30, 2009 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FUTURES CONTRACTS — At September 30, 2009, the following futures contracts were open:

	Number of		Settlement	Notional		Unrealized
Type	Contracts Long		Month	Value		Gain
S&P500 E-mini		148	December 2009	$	7,791,460	$	69,462

TAX INFORMATION — At September 30, 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	$	456,322,454
Gross unrealized gain		39,714,172
Gross unrealized loss		(11,269,990	)
Net unrealized security gain	$	28,444,182

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 FUNDS

Schedule of Investments

September 30, 2009 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS

FASB Financial Accounting Standards Codification— In July 2009, the Financial Accounting Standards Board (“FASB”) launched its “Financial Accounting Standards Codification” (the “Codification”) as the single source of accounting principles generally accepted in the United States of America (“GAAP”). While the Codification does not change GAAP, it introduces a new structure to the accounting literature and changes references to accounting standards and other authoritative accounting guidance.

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 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 GSAMI by taking into consideration market or security specific information as discussed below.

     Investments in equity securities and investment companies traded on a U.S. securities exchange or the NASDAQ system are valued daily at their last sale price or official closing price on the principal exchange or system on which they are traded. If no sale occurs, such securities and investment companies are valued at the last bid price for long positions and at the last ask price for short positions. 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 (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 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. Unlisted equity securities for which market quotations are available are valued at the last sale price on valuation date, or if no sale occurs, at the last bid price. 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. 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.

GOLDMAN SACHS VARIABLE INSURANCE TRUST FUNDS

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (CONTINUED)

     It is the Money Market Fund’s policy to use the amortized-cost method, as permitted by Rule 2a-7 under the Investment Company Act of 1940, as amended (the “Act”), for valuing portfolio securities, which approximates market value. Under this method, all investments purchased at a discount or premium are valued by accreting or amortizing the difference between the original purchase price and maturity value of the issue over the period to maturity or reset date. Under procedures and tolerances established by the trustees, GSAM evaluates the difference between the Fund’s NAV based upon the amortized cost of the Fund’s securities and the NAV based upon available market quotations (or permitted substitutes) at least once a week.

     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 of determining the Funds’ 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 Investments — 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 (i.e., the exit price). GAAP establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below:

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

     Level 2 — Quoted prices in markets that are not active or financial instruments for which 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 Funds’ investments categorized in the fair value hierarchy:

VIT Capital Growth	Level 1		Level 2		Level 3
Assets
Common Stock and/or Other Equity Investments	$	322,511,905	$	—	$	—
Short-term Investments		9,319,083		3,819,418		—
Total	$	331,830,988	$	3,819,418	$	—

GOLDMAN SACHS VARIABLE INSURANCE TRUST FUNDS

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (CONTINUED)

VIT Core Fixed Income	Level 1			Level 2			Level 3
Assets
Fixed Income
Corporate Obligations	$	—		$	38,514,512		$	—
Foreign Debt Obligations		—			7,663,499			—
U.S. Treasuries and Other U.S. Government Obligations and Agencies		9,071,846			2,930,425			—
Government Guarantee Obligations		—			15,910,084			—
Mortgage-Backed Obligations		—			111,233,596			—
Asset-Backed Securities		—			1,036,932			—
Municipal Debt Obligations		—			802,161			—
Preferred Stock		—			439,375			—
Derivatives		286,109			161,204			—
Total	$	9,357,955		$	178,691,788		$	—
Liabilities
Derivatives	$	(70,716	)	$	(1,217,588	)	$	—

VIT Equity Index	Level 1		Level 2		Level 3
Assets
Common Stock and/or Other Equity Investments	$	191,396,441	$	—	$	—
Short-term Investments		1,906,953		—		—
Derivatives		46,182		—		—
Total	$	193,349,576	$	—	$	—

VIT Government Income	Level 1			Level 2		Level 3
Assets
Fixed Income
U.S. Treasuries and Other U.S. Government Obligations and Agencies	$	5,611,581		$	12,762,638	$	—
Government Guarantee Obligations		—			5,146,491		—
Mortgage-Backed Obligations		—			47,215,830		—
Asset-Backed Securities		—			815,550		—
Short-term Investments		10,010,283			—		—
Derivatives		143,074			—		—
Total	$	15,764,938		$	65,940,509	$	—
Liabilities
Derivatives	$	(32,587	)	$	—	$	—

GOLDMAN SACHS VARIABLE INSURANCE TRUST FUNDS

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (CONTINUED)

VIT Growth and Income	Level 1		Level 2		Level 3
Assets
Common Stock and/or Other Equity Investments	$	759,862,732	$	7,619,909	$	—
Short-term Investments		23,552,470		22,215,110		—
Total	$	783,415,202	$	29,835,019	$	—

VIT Growth Opportunities	Level 1		Level 2		Level 3
Assets
Common Stock and/or Other Equity Investments	$	119,801,714	$	—	$	—
Short-term Investments		1,856,134		13,879,163		—
Total	$	121,657,848	$	13,879,163	$	—

VIT Mid Cap Value	Level 1		Level 2		Level 3
Assets
Common Stock and/or Other Equity Investments	$	931,196,948	$	—	$	—
Short-term Investments		1,805,041		56,600,409		—
Total	$	933,001,989	$	56,600,409	$	—

VIT Money Market	Level 1		Level 2(a)		Level 3
Assets
U.S Treasuries and/or Other U.S. Government Obligations and Agencies	$	1,993,200	$	35,608,198	$	—
Government Guarantee Obligations		—		7,498,729		—
Corporate Obligations (including Repurchase Agreements)		—		110,786,204		—
Total	$	1,993,200	$	153,893,131	$	—

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

VIT Strategic International Equity	Level 1		Level 2		Level 3
Assets
Common Stock and/or Other Equity Investments(a)	$	12,752,434	$	218,407,279	$	—
Short-term Investments		8,096,779		2,239,317		—
Derivatives		220,842		—		—
Total	$	21,070,055	$	220,646,596	$	—

(a) To adjust for the time difference between local market close and the calculation of the net asset value, the Fund may utilize fair value model prices for international equities provided by an independent service resulting in a Level 2 classification.

VIT Structured Small Cap Equity	Level 1		Level 2		Level 3
Assets
Common Stock and/or Other Equity Investments	$	113,127,057	$	—	$	—
Short-term Investments		3,071,911		27,267,847		—
Derivatives		33,801		—		—
Total	$	116,232,769	$	27,267,847	$	—

GOLDMAN SACHS VARIABLE INSURANCE TRUST FUNDS

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (CONTINUED)

VIT Structured U.S. Equity	Level 1		Level 2		Level 3
Assets
Common Stock and/or Other Equity Investments	$	442,359,954	$	—	$	—
Short-term Investments		11,327,760		31,078,922		—
Derivatives		69,462		—		—
Total	$	453,757,176	$	31,078,922	$	—

Mortgage-Backed and Asset-Backed Securities — The Core Fixed Income and Government Income 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.

GOLDMAN SACHS VARIABLE INSURANCE TRUST FUNDS

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (CONTINUED)

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 contracts 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 accrue 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 in a dollar roll transaction files for bankruptcy or becomes insolvent, the Funds’ use of proceeds from 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 while the Fund seeks to assert its rights. The underlying securities for all repurchase agreements are held in safekeeping at the Fund’s custodian or designated subcustodians under 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 (the “SEC”) 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 Fund’s 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.

JOINT REPURCHASE AGREEMENT ACCOUNT II — At September 30, 2009, the Money Market Fund had an undivided interest in the Joint Repurchase Agreement Account II which equaled $35,300,000 in principal amount.

REPURCHASE AGREEMENTS

	Principal		Interest			Maturity		Maturity
Counterparty	Amount		Rate			Date		Value
Banc of America Securities LLC	$	1,033,500,000		0.08	%		10/01/09	$	1,033,502,297
Barclays Capital, Inc.		800,000,000		0.03			10/01/09		800,000,667
Barclays Capital, Inc.		2,250,000,000		0.04			10/01/09		2,250,002,500
Citigroup Global Markets, Inc.		1,500,000,000		0.06			10/01/09		1,500,002,500
Credit Suisse Securities (USA) LLC		1,000,000,000		0.03			10/01/09		1,000,000,833
Credit Suisse Securities (USA) LLC		1,950,000,000		0.07			10/01/09		1,950,003,792

GOLDMAN SACHS VARIABLE INSURANCE TRUST FUNDS

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (CONTINUED)

	Principal		Interest			Maturity		Maturity
Counterparty	Amount		Rate			Date		Value
Deutsche Bank Securities, Inc.	$	300,000,000		0.04	%		10/01/09	$	300,000,333
Deutsche Bank Securities, Inc.		1,150,000,000		0.08			10/01/09		1,150,002,556
JPMorgan Securities		500,000,000		0.04			10/01/09		500,000,556
JPMorgan Securities		4,121,500,000		0.07			10/01/09		4,121,508,014
Merrill Lynch & Co., Inc.		950,000,000		0.07			10/01/09		950,001,847
Morgan Stanley & Co.		2,160,300,000		0.05			10/01/09		2,160,303,000
RBS Securities, Inc.		500,000,000		0.07			10/01/09		500,000,972
UBS Securities LLC		1,295,000,000		0.08			10/01/09		1,295,002,878
Wachovia Capital Markets		550,000,000		0.07			10/01/09		550,001,069
TOTAL								$	20,060,333,814

     At September 30, 2009, the Joint Repurchase Agreement Account II was fully collateralized by Federal Farm Credit Bank, 3.800% to 6.900%, due 11/04/09 to 08/03/37; Federal Home Loan Bank, 0.820% to 6.640%, due 10/02/09 to 03/14/36; Federal Home Loan Mortgage Corp., 0.000% to 15.000%, due 10/13/09 to 10/01/39; Federal Home Loan Mortgage Corp. Interest-Only Stripped Securities, 0.000%, due 01/15/18; Federal National Mortgage Association, 0.000% to 16.000%, due 10/01/09 to 07/01/49; Federal National Mortgage Association Interest-Only Stripped Securities, 0.000%, due 05/15/20; Government National Mortgage Association, 4.500% to 6.000%, due 07/15/35 to 09/15/39; Tennessee Valley Authority Interest-Only Stripped Security, 0.000%, due 11/01/10; U.S. Treasury Inflation Protected Securities, 0.625% to 4.250%, due 01/15/10 to 01/15/15; U.S. Treasury Interest-Only Stripped Securities, 0.000%, due 11/30/09 to 08/15/19; U.S. Treasury Notes, 1.750% to 7.250%, due 08/31/11 to 02/15/18 and U.S. Treasury Principal-Only Stripped Securities, 0.000%, due 11/15/09 to 08/15/17. The aggregate market value of the collateral, including accrued interest, was $20,558,837,843.

Treasury Inflation-Protected Securities — The Core Fixed Income and Government Income 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.

Foreign Currency Translations — The books and records of the Funds are accounted for in U.S. dollars. Amounts denominated in foreign currencies are translated into U.S. dollars on the following basis: (i) investment valuations, foreign currency and other assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars based upon 4:00 p.m. Eastern Time exchange rates; and (ii) purchases and sales of foreign investments, income and expenses are converted into U.S. dollars based upon currency exchange rates prevailing on the respective dates of such transactions as of 4:00 p.m. Eastern Time.

     Net realized and unrealized gain (loss) on foreign currency transactions represents: (i) foreign exchange gains and losses from the sale and holdings of foreign currencies; (ii) currency gains and losses between trade date and settlement date on investment security transactions and forward exchange contracts; and (iii) gains and losses from the difference between amounts of dividends, interest and foreign withholding taxes recorded and the amounts actually received. The effect of changes in foreign currency exchange rates on equity securities and derivative instruments are not segregated in the Statements of Operations from the effects of changes in market prices of those investments, but are included with the net realized and unrealized gain (loss) on investments. The effect of changes in foreign currency exchange rates on fixed income securities sold during the period are segregated in the Statements of Operations from the effects of changes in market prices of those investments, and are included with the net realized gain (loss) on foreign currency related transactions. The effect of changes in foreign currency exchange rates on fixed income securities held at period end are not segregated in the Statements of Operations from the effects of changes in market prices of those investments, but are included with the net change in unrealized gain (loss) on investments. Net unrealized foreign exchange gains and losses arising from changes in the value of other assets and liabilities as a result of changes in foreign exchange rates are included as increases and decreases in unrealized gain (loss) on foreign currency related transactions.

GOLDMAN SACHS VARIABLE INSURANCE TRUST FUNDS

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (CONTINUED)

Derivatives — The Funds may make investments in derivative instruments, including, but not limited to, options, futures, swaps and other derivatives relating to foreign currency transactions. A derivative is an instrument whose value is derived from underlying assets, indices, reference rates or a combination of these factors. Derivative instruments may be privately negotiated contracts (often referred to as over the counter (“OTC”) derivatives) or they may be listed and traded on an exchange. Derivative contracts may involve future commitments to purchase or sell financial instruments or commodities at specified terms on a specified date, or to exchange interest payment streams or currencies based on a notional or contractual amount. Derivative instruments may involve a high degree of financial risk. The use of derivatives also involves the risk of loss if the investment adviser is incorrect in its expectation of the timing or level of fluctuations in securities prices, interest rates or currency prices. Investments in derivative instruments also include the risk of default by the counterparty, the risk that the investment may not be liquid and the risk that a small movement in the price of the underlying security or benchmark may result in a disproportionately large movement, unfavorable or favorable, in the price of the derivative instrument.

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

     In January 2009, the Funds adopted FASB Accounting Standards Codification (“ASC”) 815 “Disclosures about Derivative Instruments and Hedging Activities”, which requires enhanced disclosures about the Core Fixed Income Fund’s derivatives and hedging activities. The following table sets forth the gross value of the Fund’s derivative contracts for trading activities by certain risk types as of September 30, 2009. The values in the table below exclude the effects of cash received or posted pursuant to derivative contracts, and therefore are not representative of the Fund’s net exposure.

	Derivative		Number of		Derivative			Number of
Risk	Assets		Contracts		Liabilities			Contracts
Interest rate	$	286,109		197	$	(70,716	)		88
Currency		161,204		26		(184,619	)		20
Derivative contracts, at value	$	447,313		223	$	(255,335	)		108

GOLDMAN SACHS VARIABLE INSURANCE TRUST FUNDS

Schedule of Investments (continued)

September 30, 2009 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (CONTINUED)

Securities Lending — Pursuant to exemptive relief granted by the SEC and the terms and conditions contained therein, the Funds (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 at a time which the collateral is insufficient to cover the cost of repurchasing securities on loan.

     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 an affiliate 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. The Enhanced Portfolio and Enhanced Portfolio II invest primarily 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.

Foreign Custody Risk — A Fund that invests in foreign securities may hold such securities and foreign currency with foreign banks, agents, and securities depositories (each a “Foreign Custodian”) appointed by the Fund’s custodian. Investments in emerging markets may be subject to greater custody risks than investments in more developed markets. Custody services in emerging market countries are often undeveloped and may be less regulated than in more developed countries, and thus may not afford the same level of investor protection as would apply in developed countries. In some countries, Foreign Custodians may be subject to little or no regulatory oversight or independent evaluation of their operations. Further, the laws of certain countries may place limitations on a Fund’s ability to recover its assets if a Foreign Custodian enters into bankruptcy.

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                   November 25, 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             November 25, 2009
By (Signature and Title)*	/s/ GEORGE F. TRAVERS, PRINCIPAL FINANCIAL OFFICER
Date             November 25, 2009

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