nvq

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

GOLDMAN SACHS VARIABLE INSURANCE TRUST CAPITAL GROWTH FUND†

Schedule of Investments

March 31, 2010 (Unaudited)


Shares		Description	Value
Common Stocks — 98.2%
Banks — 1.0%
	220,200	People’s United Financial, Inc.	$	3,443,928

Capital Goods — 1.6%
	20,300	Danaher Corp.		1,622,173
	53,130	United Technologies Corp.		3,910,899

				5,533,072

Commercial & Professional Services — 1.7%
	210,800	Iron Mountain, Inc.		5,775,920

Consumer Durables & Apparel — 1.7%
	79,200	NIKE, Inc. Class B		5,821,200

Consumer Services — 1.5%
	80,800	McDonald’s Corp.		5,390,976

Diversified Financials — 7.6%
	16,500	CME Group, Inc.		5,215,815
	83,200	JPMorgan Chase & Co.		3,723,200
	103,000	Morgan Stanley		3,016,870
	99,300	Northern Trust Corp.		5,487,318
	322,800	SLM Corp.^*		4,041,456
	260,430	The Charles Schwab Corp.		4,867,437

				26,352,096

Energy — 7.6%
	155,700	Halliburton Co.		4,691,241
	59,600	Occidental Petroleum Corp.		5,038,584
	168,940	Schlumberger Ltd.		10,720,932
	69,100	Southwestern Energy Co.^*		2,813,752
	101,840	Suncor Energy, Inc.		3,313,874

				26,578,383

Food & Staples Retailing — 2.0%
	114,300	Costco Wholesale Corp.		6,824,853

Food, Beverage & Tobacco — 5.4%
	92,100	Kraft Foods, Inc. Class A		2,785,104
	185,700	PepsiCo, Inc.		12,285,912
	70,200	The Coca-Cola Co.		3,861,000

				18,932,016

Health Care Equipment & Services — 7.4%
	182,800	Baxter International, Inc.		10,638,960
	39,600	C. R. Bard, Inc.		3,430,152
	40,200	Express Scripts, Inc.^*		4,090,752
	182,900	St. Jude Medical, Inc.^*		7,508,045

				25,667,909

Household & Personal Products — 4.6%
	135,300	Avon Products, Inc.		4,582,611
	178,900	The Procter & Gamble Co.		11,319,003

				15,901,614

Materials — 2.2%
	74,000	Ecolab, Inc.		3,252,300
	55,400	Praxair, Inc.		4,598,200

				7,850,500

Media — 1.0%
	96,874	Viacom, Inc. Class B^*		3,330,528

Pharmaceuticals, Biotechnology & Life Sciences — 11.6%
	102,000	Biogen Idec, Inc.^*		5,850,720
	111,528	Charles River Laboratories International, Inc.^*^(a)		4,384,166
	137,653	Gilead Sciences, Inc.^*		6,260,458


Shares		Description	Value
Common Stocks — (continued)
Pharmaceuticals, Biotechnology & Life Sciences — (continued)
	162,300	Johnson & Johnson	$	10,581,960
	156,900	Merck & Co., Inc.		5,860,215
	41,800	Teva Pharmaceutical Industries Ltd. ADR		2,636,744
	96,300	Thermo Fisher Scientific, Inc.^*		4,953,672

				40,527,935

Real Estate — 2.0%
	440,600	CB Richard Ellis Group, Inc. Class A^*		6,983,510

Retailing — 5.3%
	254,140	Lowe’s Companies, Inc.		6,160,354
	241,000	Staples, Inc.		5,636,990
	124,800	Target Corp.		6,564,480

				18,361,824

Semiconductors & Semiconductor Equipment — 3.4%
	238,000	Broadcom Corp. Class A		7,896,840
	161,300	Xilinx, Inc.		4,113,150

				12,009,990

Software & Services — 14.5%
	47,140	Cognizant Technology Solutions Corp. Class A^*		2,403,197
	65,200	Equinix, Inc.^*		6,346,568
	70,300	Global Payments, Inc.		3,202,165
	11,308	Google, Inc. Class A^*		6,411,749
	10,900	Mastercard, Inc. Class A		2,768,600
	412,968	Microsoft Corp.		12,087,574
	425,500	Oracle Corp.		10,931,095
	218,791	The Western Union Co.		3,710,695
	29,000	Visa, Inc. Class A		2,639,870

				50,501,513

Technology Hardware & Equipment — 12.0%
	98,000	Amphenol Corp. Class A		4,134,620
	68,800	Apple, Inc.^*		16,163,184
	448,690	Cisco Systems, Inc.^*		11,679,401
	238,091	QUALCOMM, Inc.		9,997,441

				41,974,646

Telecommunication Services — 4.1%
	244,190	American Tower Corp. Class A^*		10,404,936
	105,950	Crown Castle International Corp.^*		4,050,468

				14,455,404

TOTAL COMMON STOCKS			$	342,217,817


	Shares		Rate			Value
Short-term Investment^(b) — 1.2%
JPMorgan U.S. Government Money Market Fund — Capital Shares
		4,176,232		0.031%	$	4,176,232

TOTAL INVESTMENTS BEFORE SECURITIES LENDING REINVESTMENT VEHICLE					$	346,394,049

GOLDMAN SACHS VARIABLE INSURANCE TRUST CAPITAL GROWTH FUND†

Schedule of Investments (continued)

March 31, 2010 (Unaudited)


	Shares		Rate			Value
Securities Lending Reinvestment Vehicle^(b)^(c) — 0.1%
Boston Global Investment Trust — Enhanced Portfolio
		496,186		0.078%	$	495,690

TOTAL INVESTMENTS — 99.5%					$	346,889,739

OTHER ASSETS IN EXCESS OF LIABILITIES — 0.5%						1,682,248

NET ASSETS — 100.0%					$	348,571,987

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

* Non-income producing security.

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

(b) Variable rate security. Interest rate disclosed is that which is in effect at March 31, 2010.



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.

† Effective April 30, 2010, the Goldman Sachs Variable Insurance Trust Capital Growth Fund changed its name to the Goldman Sachs Variable Insurance Trust Strategic Growth Fund.

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments

March 31, 2010 (Unaudited)


Principal			Interest			Maturity
Amount			Rate			Date	Value
Corporate Obligations — 21.3%
Banks — 5.9%
Bank of America Corp.
$		200,000		5.750	%	12/01/17	$	204,515
Citigroup, Inc.
		225,000		6.375		08/12/14		240,053
		600,000		5.000		09/15/14		599,722
Credit Agricole SA^(a)^(b)^(c)
		200,000		8.375		12/31/49		216,500
Discover Bank
		325,000		8.700		11/18/19		355,174
Fifth Third Bank^(b)
		300,000		0.360		05/17/13		280,178
First Niagara Financial Group, Inc.
		200,000		6.750		03/19/20		204,571
JPMorgan Chase Bank NA
		400,000		6.000		10/01/17		425,911
JPMorgan Chase Capital XXV Series Y
		275,000		6.800		10/01/37		272,736
Lloyds TSB Bank PLC^(a)
		325,000		4.375		01/12/15		320,379
Merrill Lynch & Co., Inc.
		325,000		6.400		08/28/17		341,880
		450,000		6.875		04/25/18		485,738
Morgan Stanley & Co.
		275,000		5.750		08/31/12		296,373
		400,000		5.950		12/28/17		411,556
		725,000		6.625		04/01/18		775,509
		100,000		5.625		09/23/19		99,200
PNC Bank NA
		325,000		6.875		04/01/18		360,430
Resona Bank Ltd.^(a)^(b)^(c)
		1,250,000		5.850		09/29/49		1,179,905
Santander Issuances SA^(a)^(b)
		200,000		5.805		06/20/16		199,555
The Bank of Tokyo-Mitsubishi UFJ Ltd.^(a)
		325,000		3.850		01/22/15		328,392
The Bear Stearns Companies LLC
		550,000		6.400		10/02/17		607,251
		525,000		7.250		02/01/18		606,801
The Royal Bank of Scotland Group PLC^(a)
		425,000		4.875		08/25/14		427,728
US Bank NA^(b)
EUR	250,000			4.375		02/28/17		338,579
Wachovia Bank NA
$		250,000		7.800		08/18/10		256,443
		675,000		6.600		01/15/38		695,288
Wells Fargo Capital XIII^(b)^(c)
		125,000		7.700		12/29/49		128,125

								10,658,492

Brokerage — 0.2%
Ameriprise Financial, Inc.
		300,000		5.300		03/15/20		304,970

Building Materials — 0.1%
Holcim US Finance Sarl & Companhia SCS^(a)
		175,000		6.000		12/30/19		181,737


	Principal		Interest			Maturity
	Amount		Rate			Date	Value
Corporate Obligations — (continued)
Chemicals — 0.7%
Airgas, Inc.
$		425,000		4.500	%	09/15/14	$	437,765
The Dow Chemical Co.
		500,000		7.600		05/15/14		572,136
		175,000		5.900		02/15/15		189,584

								1,199,485

Consumer Products — 0.2%
Whirlpool Corp.
		125,000		8.000		05/01/12		137,869
		175,000		8.600		05/01/14		203,346

								341,215

Electric — 1.5%
Arizona Public Service Co.
		250,000		6.375		10/15/11		266,242
		225,000		6.250		08/01/16		242,076
CenterPoint Energy, Inc. Series B
		1,000,000		7.250		09/01/10		1,022,311
Commonwealth Edison Co.
		250,000		5.875		02/01/33		251,796
Enel Finance International SA^(a)
		275,000		5.125		10/07/19		271,786
FirstEnergy Corp. Series C
		100,000		7.375		11/15/31		103,271
Progress Energy, Inc.
		200,000		5.625		01/15/16		213,066
		350,000		7.000		10/30/31		380,102

								2,750,650

Energy — 1.2%
Dolphin Energy Ltd.^(a)
		237,600		5.888		06/15/19		244,134
Ras Laffan Liquefied Natural Gas Co. Ltd. III^(a)
		250,000		5.500		09/30/14		268,325
Suncor Energy, Inc.
		250,000		6.100		06/01/18		269,182
Talisman Energy, Inc.
		325,000		7.750		06/01/19		385,169
Transocean, Inc.
		975,000		1.500		12/15/37		951,844

								2,118,654

Food & Beverage — 1.0%
Anheuser-Busch InBev Worldwide, Inc.
		400,000		7.200	^(a)	01/15/14		458,251
		550,000		4.125		01/15/15		565,894
Kraft Foods, Inc.
		275,000		6.125		08/23/18		298,822
		275,000		5.375		02/10/20		278,965
		225,000		6.500		02/09/40		232,636

								1,834,568

Healthcare — 0.6%
Agilent Technologies, Inc.
		550,000		5.500		09/14/15		589,274


Principal		Interest			Maturity
Amount		Rate			Date	Value
Corporate Obligations — (continued)
Healthcare — (continued)
Boston Scientific Corp.
$	300,000		4.500	%	01/15/15	$	287,511
	200,000		6.000		01/15/20		188,938

							1,065,723

Life Insurance — 1.1%
MetLife Capital Trust X^(a)^(b)^(c)
	300,000		9.250		04/08/38		337,500
Prudential Financial, Inc.
	575,000		3.875		01/14/15		575,320
Symetra Financial Corp.^(a)^(b)
	325,000		8.300		10/15/37		265,972
The Hartford Financial Services Group, Inc.
	200,000		6.625		03/30/40		196,790
The Northwestern Mutual Life Insurance Co.^(a)
	600,000		6.063		03/30/40		602,141

							1,977,723

Media Cable — 0.9%
Comcast Corp.
	625,000		6.450		03/15/37		638,124
DIRECTV Holdings LLC^(a)
	350,000		6.350		03/15/40		347,797
Time Warner Entertainment Co. LP
	225,000		8.375		03/15/23		272,979
Time Warner, Inc.
	450,000		4.875		03/15/20		441,283

							1,700,183

Media Non-Cable — 0.1%
WPP Finance UK
	206,000		8.000		09/15/14		236,052

Metals and Mining — 0.7%
Anglo American Capital PLC^(a)
	100,000		9.375		04/08/14		120,122
	225,000		9.375		04/08/19		286,585
ArcelorMittal
	375,000		6.125		06/01/18		392,344
Freeport-McMoRan Copper & Gold, Inc.
	368,000		8.375		04/01/17		408,480

							1,207,531

Noncaptive-Financial — 0.2%
SLM Corp.
	450,000		5.400		10/25/11		450,000

Paper — 0.2%
International Paper Co.
	325,000		7.500		08/15/21		368,029

Pharmaceuticals — 0.2%
Watson Pharmaceuticals, Inc.
	325,000		5.000		08/15/14		339,260

Pipelines — 2.3%
Boardwalk Pipelines LP
	575,000		5.875		11/15/16		618,369
DCP Midstream LLC^(a)
	280,000		9.750		03/15/19		358,954
El Paso Pipeline Partners Operating Co. LLC
	150,000		6.500		04/01/20		150,562


Principal		Interest			Maturity
Amount		Rate			Date	Value
Corporate Obligations — (continued)
Pipelines — (continued)
Energy Transfer Partners LP
$	550,000		5.950	%	02/01/15	$	599,712
Enterprise Products Operating LLC
	175,000		5.000		03/01/15		185,154
	550,000		6.650		04/15/18		609,940
Tennessee Gas Pipeline Co.
	150,000		8.000		02/01/16		172,828
	200,000		8.375		06/15/32		234,089
The Williams Companies, Inc.
	325,000		8.750		03/15/32		393,867
TransCanada Pipelines Ltd.^(b)
	325,000		6.350		05/15/67		305,500
Williams Partners Finance Corp.
	350,000		7.250		02/01/17		399,940
Williams Partners LP^(a)
	175,000		5.250		03/15/20		175,171

							4,204,086

Property/Casualty Insurance — 2.0%
Arch Capital Group Ltd.
	350,000		7.350		05/01/34		355,248
Aspen Insurance Holdings Ltd.
	350,000		6.000		08/15/14		367,333
Axis Specialty Finance LLC
	400,000		5.875		06/01/20		394,717
Endurance Specialty Holdings Ltd.
	150,000		6.150		10/15/15		160,146
Marsh & McClennan Companies, Inc.
	600,000		5.150		09/15/10		609,880
QBE Insurance Group Ltd.^(a)
	225,000		9.750		03/14/14		273,446
Transatlantic Holdings, Inc.
	225,000		8.000		11/30/39		228,375
White Mountains Reinsurance Group Ltd.^(a)
	600,000		6.375		03/20/17		589,844
ZFS Finance USA Trust IV^(a)^(b)^(c)
	675,000		5.875		05/09/32		634,014

							3,613,003

Real Estate Investment Trusts — 1.0%
Developers Diversified Realty Corp.
	275,000		7.500		04/01/17		277,406
Healthcare Realty Trust, Inc.
	300,000		6.500		01/17/17		314,560
ProLogis
	100,000		2.250		04/01/37		97,250
	175,000		1.875		11/15/37		164,937
Simon Property Group LP
	350,000		10.350		04/01/19		437,052
Westfield Capital Corp. Ltd.^(a)
	225,000		4.375		11/15/10		228,501
Westfield Group^(a)
	125,000		5.400		10/01/12		132,524
	125,000		7.500		06/02/14		139,912

							1,792,142

Tobacco — 0.2%
BAT International Finance PLC^(a)
	300,000		9.500		11/15/18		388,508

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments (continued)

March 31, 2010 (Unaudited)


	Principal		Interest			Maturity
	Amount		Rate			Date	Value
Corporate Obligations — (continued)
Wireless Telecommunications — 0.5%
New Cingular Wireless Services, Inc.
$		675,000		7.875	%	03/01/11	$	715,776
Rogers Cable, Inc.
		200,000		7.875		05/01/12		222,870

								938,646

Wirelines Telecommunications — 0.5%
Qwest Corp.
		150,000		8.375		05/01/16		168,750
Telecom Italia Capital SA
		300,000		4.875		10/01/10		305,236
Telefonica Europe BV
		300,000		7.750		09/15/10		309,068
Verizon Communications, Inc.
		150,000		6.400		02/15/38		156,249

								939,303

TOTAL CORPORATE OBLIGATIONS							$	38,609,960


Mortgage-Backed Obligations — 44.0%
Adjustable Rate Non-Agency^(b) — 2.9%
Bear Stearns Adjustable Rate Mortgage Trust Series 2004-1, Class 21A1
$		35,112		3.059	%	04/25/34	$	31,424
Countrywide Alternative Loan Trust Series 2005-38, Class A1
		301,803		1.963		09/25/35		179,363
Countrywide Home Loan Mortgage Pass-Through Trust Series 2003-52, Class A1
		131,532		3.421		02/19/34		111,570
Countrywide Home Loan Mortgage Pass-Through Trust Series 2004-HYB6, Class A2
		23,718		3.527		11/20/34		19,464
Indymac Index Mortgage Loan Trust Series 2005-AR15, Class A1
		553,839		5.221		09/25/35		448,707
Indymac Index Mortgage Loan Trust Series 2006-AR4, Class A1A
		1,157,565		0.456		05/25/46		610,591
J.P. Morgan Mortgage Trust Series 2007-A1, Class 2A2
		486,003		3.559		07/25/35		470,801
Lehman XS Trust Series 2005-7N, Class 1A1A
		464,801		0.516		12/25/35		286,489
Mastr Adjustable Rate Mortgages Trust Series 2006-OA2, Class 4A1A
		686,610		1.313		12/25/46		217,746
Structured Adjustable Rate Mortgage Loan Trust Series 2004-5, Class 3A1
		56,807		2.915		05/25/34		52,245
Structured Adjustable Rate Mortgage Loan Trust Series 2004-12, Class 3A2
		25,436		2.582		09/25/34		22,253
Thornburg Mortgage Securities Trust Series 2006-4, Class A2B
		1,768,918		0.366		07/25/36		1,660,060


Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
Adjustable Rate Non-Agency — (continued)
Washington Mutual Mortgage Pass-Through Certificates Series 2004-AR3, Class A2
$	35,373		3.080	%	06/25/34	$	32,910
Washington Mutual Mortgage Pass-Through Certificates Series 2007-OA2, Class 1A
	710,696		1.163		03/25/47		386,293
Wells Fargo Mortgage-Backed Securities Trust Series 2006-AR10, Class 5A3
	978,964		5.607		07/25/36		792,644

							5,322,560

Collateralized Mortgage Obligations — 2.8%
Interest Only^(b)^(d) — 0.0%
FNMA REMIC Series 2004-71, Class DI
	440,364		0.000		04/25/34		10,465

Planned Amortization Class — 1.7%
FNMA REMIC Series 2003-92, Class PD
	3,000,000		4.500		03/25/17		3,111,636

Regular Floater^(b) — 1.1%
FHLMC REMIC Series 2005-3038, Class XA^(e)
	35,595		0.000		09/15/35		33,181
FHLMC REMIC Series 2006-3167, Class X^(e)
	6,265		0.000		06/15/36		6,243
FHLMC REMIC Series 2007-3275, Class UF^(e)
	32,950		0.000		02/15/37		31,510
FHLMC REMIC Series 2007-3342, Class FT
	1,169,727		0.680		07/15/37		1,151,752
FNMA REMIC Series 2006-68, Class FM
	705,313		0.696		08/25/36		704,573
FNMA REMIC Series 2006-81, Class LF^(e)
	34,739		0.000		09/25/36		34,276
FNMA REMIC Series 2007-56, Class GY^(e)
	51,898		0.000		06/25/37		49,858

							2,011,393

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS						$	5,133,494


Commercial Mortgage-Backed Securities — 7.0%
Adjustable Rate Non-Agency^(b) — 2.5%
Wachovia Bank Commercial Mortgage Trust Series 2005-C21, Class A4
$	3,000,000		5.209	%	10/15/44	$	3,160,946
Wachovia Bank Commercial Mortgage Trust Series 2006-C25, Class A5
	1,200,000		5.740		05/15/43		1,240,742

							4,401,688

Sequential Fixed Rate — 4.5%
CWCapital Cobalt Ltd. Series 2006-C1, Class A4
	1,052,000		5.223		08/15/48		996,590
GE Capital Commercial Mortgage Corp. Series 2002-1A, Class A3
	2,700,000		6.269		12/10/35		2,858,208

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments (continued)

March 31, 2010 (Unaudited)


	Principal		Interest			Maturity
	Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
Commercial Mortgage-Backed Securities — (continued)
Sequential Fixed Rate — (continued)
J.P. Morgan Chase Commercial Mortgage Securities Corp. Series 2005-LDP2, Class A4
$		1,500,000		4.738	%	07/15/42	$	1,518,016
Morgan Stanley Dean Witter Capital I Series 2003-TOP9, Class A2
		2,700,000		4.740		11/13/36		2,814,225

								8,187,039

TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES							$	12,588,727


Federal Agencies — 31.3%
Adjustable Rate FHLMC^(b) — 2.2%
$		2,111,453		4.845	%	09/01/35	$	2,192,309
		1,671,363		4.686		10/01/35		1,747,544

								3,939,853

Adjustable Rate FNMA^(b) — 1.9%
		712,308		3.340		05/01/33		731,714
		1,074,213		2.912		05/01/35		1,114,636
		1,558,725		4.955		09/01/35		1,617,786

								3,464,136

FHLMC — 6.4%
		4,323		7.000		08/01/10		4,406
		6,656		7.000		11/01/11		6,947
		5,750		7.000		12/01/11		6,001
		40,714		7.500		06/01/15		44,290
		170,797		7.000		07/01/16		184,974
		790,600		5.500		02/01/18		855,052
		63,815		5.500		04/01/18		69,017
		46,878		4.500		05/01/18		49,365
		28,220		4.500		06/01/18		29,717
		66,751		4.500		09/01/18		70,292
		110,819		5.500		09/01/18		119,853
		85,817		4.500		10/01/18		90,369
		34,214		4.500		01/01/19		36,029
		30,967		4.500		03/01/19		32,610
		11,815		9.500		08/01/19		13,207
		784		9.500		08/01/20		879
		247,885		6.500		10/01/20		272,988
		38,124		4.500		07/01/24		39,719
		27,971		4.500		09/01/24		29,110
		374,473		4.500		11/01/24		389,956
		49,468		4.500		12/01/24		51,537
		70,441		6.000		03/01/29		76,557
		906		6.000		04/01/29		985
		49,837		7.500		12/01/29		55,157
		445,235		7.000		05/01/32		494,997
		1,659		6.000		08/01/32		1,800
		247,284		7.000		12/01/32		274,922
		50,443		5.000		12/01/35		52,331
		58,728		6.000		09/01/37		63,839
		86,611		6.000		02/01/38		94,258
		81,532		5.000		04/01/38		84,417
		336,948		6.000		07/01/38		366,364
		62,100		6.000		10/01/38		67,660


	Principal		Interest			Maturity
	Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
Federal Agencies — (continued)
FHLMC — (continued)
$		20,790		6.000	%	11/01/38	$	22,534
		463,395		5.000		03/01/39		479,795
		1,250,454		5.000		04/01/39		1,294,708
		410,137		5.000		05/01/39		425,100
		2,279,912		5.000		06/01/39		2,362,046
		672,869		5.000		07/01/39		696,894
		62,790		5.000		08/01/39		65,080
		978,062		4.500		09/01/39		983,449
		297,215		4.500		10/01/39		298,666
		492,909		5.000		10/01/39		510,184
		296,603		5.000		12/01/39		307,424

								11,475,485

FNMA — 19.4%
		20,225		6.000		08/01/13		21,817
		103,952		7.500		08/01/15		113,781
		47,095		6.000		04/01/16		51,007
		103,955		6.500		05/01/16		113,050
		153,478		6.500		09/01/16		166,906
		191,987		6.500		11/01/16		208,784
		47,623		6.000		12/01/16		51,579
		388,445		6.000		02/01/17		420,763
		54,134		7.500		04/01/17		57,973
		618,267		6.000		10/01/17		669,705
		704,127		5.500		02/01/18		760,804
		809,417		5.000		05/01/18		863,359
		60,448		6.500		08/01/18		66,099
		270,010		7.000		08/01/18		301,309
		2,638,533		4.000		09/01/18		2,740,175
		409,214		5.000		04/01/19		436,567
		752,655		4.500		05/01/23		782,889
		13,130		5.000		06/01/23		13,866
		919,610		5.500		09/01/23		986,308
		160,336		5.500		10/01/23		172,136
		31,763		4.500		07/01/24		33,092
		686,108		4.500		11/01/24		714,597
		164,190		4.500		12/01/24		171,059
		301		7.000		07/01/25		337
		8,095		7.000		11/01/25		9,058
		57,205		9.000		11/01/25		66,770
		224,726		7.000		08/01/26		251,672
		3,883		7.000		08/01/27		4,385
		16,544		7.000		09/01/27		18,685
		91,263		6.000		12/01/27		97,364
		585		7.000		01/01/28		661
		472,937		6.000		02/01/29		514,452
		431,263		6.000		06/01/29		469,149
		2,196		7.000		09/01/29		2,467
		72,887		8.000		10/01/29		84,562
		30,625		7.000		12/01/29		34,406
		1,574		8.500		04/01/30		1,834
		7,837		8.000		05/01/30		8,578
		448		8.500		06/01/30		523
		32,241		7.000		05/01/32		36,077
		222,596		7.000		06/01/32		248,749

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments (continued)

March 31, 2010 (Unaudited)


	Principal		Interest			Maturity
	Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
Federal Agencies — (continued)
FNMA — (continued)
$		286,702		7.000	%	08/01/32	$	320,386
		64,386		8.000		08/01/32		74,661
		30,651		5.000		08/01/33		31,848
		3,896		5.500		09/01/33		4,127
		4,997		5.500		02/01/34		5,290
		803		5.500		04/01/34		850
		52,657		5.500		12/01/34		55,660
		120,051		5.000		04/01/35		124,465
		357,231		6.000		04/01/35		388,399
		17,929		5.000		09/01/35		18,551
		6,576		5.500		09/01/35		6,959
		853		5.500		02/01/37		900
		1,533		5.500		04/01/37		1,619
		1,578		5.500		05/01/37		1,667
		60,454		6.000		06/01/37		64,943
		18,138		6.000		07/01/37		19,485
		23,256		6.000		10/01/37		25,012
		25,215		6.000		11/01/37		27,119
		113,863		6.000		12/01/37		122,674
		183,305		6.000		02/01/38		196,916
		1,855		5.500		03/01/38		1,961
		114,133		6.000		03/01/38		122,750
		56,624		6.000		05/01/38		61,183
		1,270		5.500		06/01/38		1,343
		81,445		6.000		06/01/38		87,860
		1,807		5.500		07/01/38		1,910
		142,064		6.000		07/01/38		153,366
		2,545		5.500		08/01/38		2,690
		45,977		6.000		08/01/38		49,679
		1,261		5.500		09/01/38		1,333
		27,233		5.500		10/01/38		28,786
		66,033		6.000		10/01/38		71,349
		65,289		6.000		11/01/38		70,545
		796		5.500		12/01/38		842
		1,696,617		5.000		01/01/39		1,757,053
		262,454		5.000		02/01/39		271,569
		364,078		5.000		03/01/39		376,721
		776,260		5.000		04/01/39		803,694
		613,877		5.000		05/01/39		635,685
		67,037		4.500		06/01/39		67,391
		185,253		5.000		06/01/39		191,801
		1,912,187		5.000		07/01/39		1,978,855
		127,606		4.500		08/01/39		128,172
		1,125,640		5.000		08/01/39		1,163,346
		47,869		5.000		09/01/39		49,607
		296,110		5.000		10/01/39		305,791
		1,837,130		5.000		11/01/39		1,901,391
		123,675		5.000		12/01/39		128,163
		754,474		5.000		01/01/40		781,141
		187,504		5.000		02/01/40		194,015
		2,000,000		4.500		TBA-30yr^(f)		2,003,750
		1,000,000		5.500		TBA-30yr^(f)		1,048,047
		4,000,000		6.000		TBA-30yr^(f)		4,264,531


	Principal		Interest			Maturity
	Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
Federal Agencies — (continued)
FNMA — (continued)
$		3,000,000		6.500	%	TBA-30yr^(f)	$	3,239,648

								35,204,853

GNMA — 1.4%
		10,115		7.000		03/15/12		10,171
		12,505		7.000		10/15/25		14,001
		24,138		7.000		11/15/25		27,026
		4,121		7.000		02/15/26		4,618
		16,089		7.000		04/15/26		18,029
		6,948		7.000		03/15/27		7,769
		8,207		7.000		10/15/27		9,178
		136,401		7.000		11/15/27		152,533
		6,706		7.000		01/15/28		7,504
		42,470		7.000		02/15/28		47,525
		16,339		7.000		03/15/28		18,284
		4,241		7.000		04/15/28		4,746
		870		7.000		05/15/28		973
		16,976		7.000		06/15/28		18,997
		31,093		7.000		07/15/28		34,794
		15,715		7.000		08/15/28		17,585
		39,478		7.000		09/15/28		44,176
		4,519		7.000		11/15/28		5,056
		5,494		7.500		11/15/30		6,003
		3,488		7.000		10/15/31		3,902
		645		7.000		12/15/31		721
		26,471		7.500		10/15/32		29,918
		882,389		6.000		08/20/34		951,871
		80,439		5.000		05/15/39		83,858
		301,960		5.000		06/15/39		314,914
		689,464		5.000		10/15/39		719,013

								2,553,165

TOTAL FEDERAL AGENCIES							$	56,637,492

TOTAL MORTGAGE-BACKED OBLIGATIONS							$	79,682,273


Agency Debentures — 1.5%
FNMA^(g)
$		100,000		0.000	%	10/09/19	$	58,047
Tennessee Valley Authority
		700,000		4.375		06/15/15		744,542
		2,000,000		5.375	^(h)	04/01/56		1,993,448

TOTAL AGENCY DEBENTURES							$	2,796,037


Asset-Backed Securities — 0.7%
Home Equity — 0.1%
GMAC Mortgage Corp. Loan Trust Series 2007-HE3, Class 1A1
$		195,776		7.000	%	09/25/37	$	115,477
GMAC Mortgage Corp. Loan Trust Series 2007-HE3, Class 2A1
		228,005		7.000		09/25/37		108,471

								223,948

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments (continued)

March 31, 2010 (Unaudited)


	Principal		Interest			Maturity
	Amount		Rate			Date	Value
Asset-Backed Securities — (continued)
Student Loan — 0.6%
SLM Student Loan Trust Series 2006-7, Class A4^(b)
$		1,000,000		0.319	%	04/25/22	$	987,283

TOTAL ASSET-BACKED SECURITIES							$	1,211,231


Foreign Debt Obligations — 4.7%
Sovereign — 1.9%
Bundesrepublik Deutschland
EUR	1,200,000			4.250	%	07/04/39	$	1,742,857
Federal Republic of Brazil
$		220,000		8.250		01/20/34		280,500
		200,000		7.125		01/20/37		227,700
Province of Ontario, Canada
		300,000		4.100		06/16/14		320,487
State of Qatar
		260,000		5.150		04/09/14		278,876
		560,000		5.250	^(a)	01/20/20		581,280

								3,431,700

Supranational — 2.8%
Asian Development Bank
		5,000,000		1.000		10/01/15		4,461,730
North American Development Bank
		700,000		4.375		02/11/20		691,120

								5,152,850

TOTAL FOREIGN DEBT OBLIGATIONS							$	8,584,550


Municipal Debt Obligations — 1.4%
California — 0.8%
California State Various Purpose GO Bonds Series 2009
$		325,000		7.500	%	04/01/34	$	335,351
		450,000		7.550		04/01/39		465,242
California State Various Purpose GO Bonds Series 2010
		140,000		7.950		03/01/36		143,406
		575,000		7.625		03/01/40		598,673

								1,542,672

Missouri — 0.6%
Missouri Higher Education Loan Authority Student Loan RB Asset-Backed Notes, Series 2010 A-1⁽ⁱ⁾
		1,000,000		1.224		04/05/10		1,005,813

TOTAL MUNICIPAL DEBT OBLIGATIONS							$	2,548,485


Government Guarantee Obligations — 14.7%
Achmea Hypotheekbank NV^(a)^(j)
$		1,300,000		3.200	%	11/03/14	$	1,316,578
ANZ National (International) Ltd.^(a)^(j)
		1,700,000		3.250		04/02/12		1,755,467
Citigroup Funding, Inc.^(k)
		2,200,000		1.875		10/22/12		2,216,046
		200,000		1.875		11/15/12		201,422
Commonwealth Bank of Australia^(a)^(j)
		700,000		2.500		12/10/12		712,418


	Principal		Interest			Maturity
	Amount		Rate			Date	Value
Government Guarantee Obligations — (continued)
Dexia Credit Local^(a)^(j)
$		700,000		2.750	%	01/10/14	$	706,194
General Electric Capital Corp.^(k)
		2,400,000		2.000		09/28/12		2,432,671
GMAC, Inc.^(k)
		3,000,000		1.750		10/30/12		3,014,571
KfW Banengueppe^(j)
		1,400,000		1.875		01/14/13		1,405,117
Landwirtschaftliche Rentenbank^(j)
		1,400,000		4.125		07/15/13		1,491,752
LeasePlan Corp. NV^(a)^(j)
		1,000,000		3.000		05/07/12		1,033,320
Royal Bank of Scotland Group PLC^(a)^(j)
		1,900,000		1.500		03/30/12		1,904,051
		600,000		2.625		05/11/12		612,580
Societe Financement de l’Economie Francaise^(a)^(j)
		1,500,000		3.375		05/05/14		1,556,295
		1,100,000		2.875		09/22/14		1,106,648
Svensk Exportkredit AB^(j)
		400,000		3.250		09/16/14		408,484
Swedish Housing Finance Corp.^(a)^(j)
		300,000		3.125		03/23/12		309,100
U.S. Central Federal Credit Union^(k)
		600,000		1.250		10/19/11		603,593
		500,000		1.900		10/19/12		504,608
Westpac Banking Corp.^(a)^(j)
		2,000,000		3.250		12/16/11		2,067,980
		1,200,000		1.900		12/14/12		1,215,007

TOTAL GOVERNMENT GUARANTEE OBLIGATIONS							$	26,573,902


U.S. Treasury Obligations — 9.3%
United States Treasury Inflation-Protected Securities
$		3,200,000		0.875	%	04/15/10	$	3,661,016
		750,000		2.000		01/15/16		868,709
		600,000		2.500		07/15/16		703,325
		300,000		2.375		01/15/25		361,004
		200,000		3.625		04/15/28		326,662
		300,000		2.125		02/15/40		298,151
United States Treasury Notes
		2,600,000		1.375		03/15/13		2,584,660
		1,600,000		2.500		03/31/15		1,595,440
		3,200,000		2.375		03/31/16		3,095,872
		200,000		3.000		02/28/17		196,878
		1,200,000		2.750		02/15/19		1,113,744
United States Treasury Principal-Only STRIPS^(g)
		3,400,000		0.000		11/15/21		2,039,354

TOTAL U.S. TREASURY OBLIGATIONS							$	16,844,815

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments (continued)

March 31, 2010 (Unaudited)


	Shares		Rate				Value
Short-term Investment^(b) — 8.2%
JPMorgan U.S. Government Money Market Fund — Capital Shares
		14,950,228		0.031	%	$	14,950,228

TOTAL INVESTMENTS — 105.8%						$	191,801,481

LIABILITIES IN EXCESS OF OTHER ASSETS — (5.8)%							(10,571,764	)

NET ASSETS — 100.0%						$	181,229,717

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

(a) 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 $23,854,601, which represents approximately 13.2% of net assets as of March 31, 2010.

(b) Variable rate security. Interest rate disclosed is that which is in effect at March 31, 2010.

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

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

(e) 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 $10,555,976, which represents approximately 5.8% of net assets as of March 31, 2010.

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

(h) A portion of this security is segregated as collateral for initial margin requirements on futures transactions.

(i) Securities with “Put” features with resetting interest rates. Maturity dates disclosed are the next interest reset date. Interest rate disclosed is that which is in effect at March 31, 2010.

(j) Represents securities which are guaranteed by a foreign government. Total market value of these securities amounts to $17,600,991, which represents approximately 9.7% of net assets as of March 31, 2010.

(k) 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 $8,972,911, which represents approximately 5.0% of net assets as of March 31, 2010.



Investment Abbreviations:
FHLMC		— Federal Home Loan Mortgage Corp.
FNMA		— Federal National Mortgage Association
GNMA		— Government National Mortgage Association
GO		— General Obligation
LIBOR		— London Interbank Offered Rate
RB		— Revenue Bond
REMIC		— Real Estate Mortgage Investment Conduit
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)

March 31, 2010 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS — At March 31, 2010, the Fund had outstanding forward foreign currency exchange contracts, both, to purchase and sell foreign currencies:

Forward Foreign Currency Exchange Contracts with Unrealized Gain


		Contract	Expiration	Purchase		Sale		Unrealized
Counterparty	Currency	Type	Date	Current Value		Current Value		Gain

Citibank NA	JPY	Sale	6/16/10	$	214,000	$	204,248	$	9,752
	NZD	Purchase	6/16/10		210,816		212,055		1,239
Deutsche Bank Securities, Inc.	EUR	Sale	4/30/10		2,005,397		2,002,324		3,073
	NZD	Purchase	6/16/10		1,380,349		1,393,857		13,508
HSBC Bank PLC	AUD	Purchase	6/16/10		210,675		212,056		1,381
	GBP	Sale	6/16/10		212,121		210,846		1,275
JPMorgan Chase Bank NA	CAD	Purchase	6/16/10		214,000		220,921		6,921
Morgan Stanley & Co., Inc.	CAD	Purchase	6/16/10		809,688		821,175		11,487
Royal Bank of Canada	EUR	Sale	6/16/10		459,389		457,206		2,183
UBS AG	EUR	Sale	6/16/10		852,715		842,805		9,910
Westpac Banking Corp.	AUD	Purchase	6/16/10		210,178		211,145		967
	JPY	Sale	6/16/10		212,000		209,898		2,102

TOTAL								$	63,798

Forward Foreign Currency Exchange Contracts with Unrealized Loss


		Contract	Expiration	Purchase		Sale		Unrealized
Counterparty	Currency	Type	Date	Current Value		Current Value		Loss

Bank of America NA	CHF	Sale	6/16/10	$	405,644	$	414,582	$	(8,938	)
Citibank NA	NZD	Sale	6/16/10		198,581		200,745		(2,164	)
	NOK	Purchase	6/16/10		213,000		208,363		(4,637	)
Deutsche Bank Securities, Inc.	EUR	Sale	6/16/10		213,476		216,104		(2,628	)
HSBC Bank PLC	EUR	Purchase	6/16/10		423,373		422,753		(620	)
	JPY	Purchase	6/16/10		423,000		420,006		(2,994	)
	NOK	Sale	6/16/10		212,000		215,855		(3,855	)
	CHF	Sale	6/16/10		213,000		216,233		(3,233	)
JPMorgan Chase Bank NA	JPY	Purchase	6/16/10		54,816		52,967		(1,849	)
Merrill Lynch & Co., Inc.	NZD	Purchase	6/16/10		211,778		210,641		(1,137	)
Royal Bank of Canada	JPY	Purchase	6/16/10		221,000		213,826		(7,174	)
UBS AG	AUD	Sale	6/16/10		211,129		213,876		(2,747	)
	EUR	Sale	6/16/10		421,244		424,104		(2,860	)
Westpac Banking Corp.	AUD	Sale	6/16/10		1,014,668		1,024,018		(9,350	)

TOTAL								$	(54,186	)

GOLDMAN SACHS VARIABLE INSURANCE TRUST CORE FIXED INCOME FUND

Schedule of Investments (continued)

March 31, 2010 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (CONTINUED)

Forward Foreign Cross Currency Exchange Contracts with Unrealized Gain (Purchase/Sale)


		Expiration	Purchase		Sale		Unrealized
Counterparty	Currency	Date	Current Value		Current Value		Gain

Barclays Bank PLC	NOK/EUR	6/16/10	$	316,052	$	316,517	$	465
HSBC Bank PLC	GBP/EUR	6/16/10		421,403		425,719		4,316
	CAD/EUR	6/16/10		214,753		220,772		6,019
	EUR/SEK	6/16/10		424,126		426,805		2,679
	NZD/EUR	6/16/10		213,403		219,823		6,420
	NOK/EUR	6/16/10		974,920		979,081		4,161
	CHF/JPY	6/16/10		211,100		212,569		1,469
Royal Bank of Scotland	GBP/EUR	6/16/10		212,052		213,147		1,095
UBS AG	GBP/EUR	6/16/10		588,911		599,785		10,874
	CAD/JPY	6/16/10		205,592		213,648		8,056
	CHF/EUR	6/16/10		321,455		322,049		594
	CHF/JPY	6/16/10		206,370		213,518		7,148

TOTAL							$	53,296

Forward Foreign Cross Currency Exchange Contracts with Unrealized Loss (Purchase/Sale)


		Expiration	Purchase		Sale		Unrealized
Counterparty	Currency	Date	Current Value		Current Value		Loss

Barclays Bank PLC	SEK/EUR	6/16/10	$	212,052	$	211,524	$	(528	)
Citibank NA	AUD/EUR	6/16/10		212,052		211,957		(95	)
	EUR/AUD	6/16/10		320,720		320,104		(616	)
	EUR/CAD	6/16/10		215,762		210,701		(5,061	)
	EUR/CHF	6/16/10		324,635		316,052		(8,583	)
	NZD/EUR	6/16/10		212,052		210,953		(1,099	)
HSBC Bank PLC	EUR/CHF	6/16/10		322,385		317,403		(4,982	)
	SEK/NOK	6/16/10		171,696		170,093		(1,603	)
JPMorgan Chase Bank NA	EUR/GBP	6/16/10		213,620		213,403		(217	)
	EUR/NZD	6/16/10		424,575		422,754		(1,821	)
	EUR/CAD	6/16/10		427,486		426,805		(681	)
Morgan Stanley & Co., Inc.	EUR/NOK	6/16/10		210,820		210,701		(119	)
Royal Bank of Canada	CAD/EUR	6/16/10		212,052		211,338		(714	)
	EUR/GBP	6/16/10		211,698		210,701		(997	)
Royal Bank of Scotland	EUR/GBP	6/16/10		431,618		428,156		(3,462	)
State Street Bank and Trust	SEK/EUR	6/16/10		484,795		481,624		(3,171	)
UBS AG	SEK/NOK	6/16/10		216,464		212,566		(3,898	)

TOTAL							$	(37,647	)

FUTURES CONTRACTS — At March 31, 2010, the following futures contracts were open:


	Number of
	Contracts		Expiration		Current	Unrealized
Type	Long		Date		Value	Gain (Loss)

Euro-Bobl		16	June 2010	$	2,530,146	$	4,678
Euro-Bund		27	June 2010		4,498,272		17,527
Eurodollars		1	June 2010		249,075		2,882
Eurodollars		1	December 2010		247,925		470
Eurodollars		1	March 2011		247,050		3,986
Eurodollars		1	June 2011		246,113		3,861
Eurodollars		1	September 2011		245,200		3,659
Eurodollars		1	December 2011		244,312		3,453
Long Gilt		29	June 2010		5,049,861		28,730
U.S. Treasury Bonds		51	June 2010		5,922,375		(24,427	)
2 Year U.S. Treasury Notes		39	June 2010		8,461,172		(1,839	)
5 Year U.S. Treasury Notes		66	June 2010		7,579,687		(20,471	)
10 Year U.S. Treasury Notes		74	June 2010		8,602,500		(62,270	)

TOTAL						$	(39,761	)

GOLDMAN SACHS VARIABLE INSURANCE TRUST EQUITY INDEX FUND

Schedule of Investments

March 31, 2010 (Unaudited)


Shares		Description	Value
Common Stocks — 98.9%
Automobiles & Components — 0.7%
	62,713	Ford Motor Co.^*	$	788,302
	4,600	Harley-Davidson, Inc.		129,122
	12,635	Johnson Controls, Inc.		416,829
	4,800	The Goodyear Tire & Rubber Co.^*		60,672

				1,394,925

Banks — 3.2%
	13,000	BB&T Corp.		421,070
	3,050	Comerica, Inc.		116,022
	14,805	Fifth Third Bancorp		201,200
	4,281	First Horizon National Corp.^*		60,154
	8,700	Hudson City Bancorp, Inc.		123,192
	12,749	Huntington Bancshares, Inc.		68,462
	15,300	KeyCorp		118,575
	1,516	M&T Bank Corp.		120,340
	9,100	Marshall & Ilsley Corp.		73,255
	7,100	People’s United Financial, Inc.		111,044
	9,657	PNC Financial Services Group, Inc.		576,523
	23,325	Regions Financial Corp.		183,101
	9,300	SunTrust Banks, Inc.		249,147
	35,851	U.S. Bancorp		927,824
	98,039	Wells Fargo & Co.		3,050,974
	2,800	Zions Bancorporation		61,096

				6,461,979

Capital Goods — 7.9%
	13,339	3M Co.		1,114,740
	11,871	Caterpillar, Inc.		746,092
	3,900	Cummins, Inc.		241,605
	5,000	Danaher Corp.		399,550
	7,979	Deere & Co.		474,431
	3,401	Dover Corp.		158,997
	3,100	Eaton Corp.		234,887
	14,296	Emerson Electric Co.		719,661
	2,500	Fastenal Co.		119,975
	880	First Solar, Inc.^*		107,932
	1,100	Flowserve Corp.		121,297
	3,282	Fluor Corp.		152,646
	7,206	General Dynamics Corp.		556,303
	201,508	General Electric Co.		3,667,446
	2,437	Goodrich Corp.		171,857
	14,508	Honeywell International, Inc.		656,777
	7,300	Illinois Tool Works, Inc.		345,728
	3,400	ITT Corp.		182,274
	2,300	Jacobs Engineering Group, Inc.^*		103,937
	2,200	L-3 Communications Holdings, Inc.		201,586
	6,051	Lockheed Martin Corp.		503,564
	6,500	Masco Corp.		100,880
	5,592	Northrop Grumman Corp.		366,667
	6,893	PACCAR, Inc.		298,743
	2,100	Pall Corp.		85,029
	3,148	Parker Hannifin Corp.		203,802
	2,700	Precision Castparts Corp.		342,117
	4,100	Quanta Services, Inc.^*		78,556
	7,276	Raytheon Co.		415,605
	2,800	Rockwell Automation, Inc.		157,808
	3,060	Rockwell Collins, Inc.		191,525
	1,800	Roper Industries, Inc.		104,112


Shares		Description	Value
Common Stocks — (continued)
Capital Goods — (continued)
	1,103	Snap-On, Inc.	$	47,804
	5,100	Textron, Inc.		108,273
	14,267	The Boeing Co.		1,035,927
	17,714	United Technologies Corp.		1,303,928
	1,233	W.W. Grainger, Inc.		133,312

				15,955,373

Commercial & Professional Services — 0.6%
	2,100	Avery Dennison Corp.		76,461
	2,300	Cintas Corp.		64,607
	1,000	Dun & Bradstreet Corp.		74,420
	2,450	Equifax, Inc.		87,710
	3,600	Iron Mountain, Inc.		98,640
	4,100	Pitney Bowes, Inc.		100,245
	4,200	R.R. Donnelley & Sons Co.		89,670
	6,310	Republic Services, Inc.		183,116
	2,800	Robert Half International, Inc.		85,204
	1,600	Stericycle, Inc.^*		87,200
	8,949	Waste Management, Inc.		308,114

				1,255,387

Consumer Durables & Apparel — 1.0%
	6,000	Coach, Inc.		237,120
	4,700	D.R. Horton, Inc.		59,220
	5,000	Eastman Kodak Co.^*		28,950
	2,700	Fortune Brands, Inc.		130,977
	1,100	Harman International Industries, Inc.^*		51,458
	2,521	Hasbro, Inc.		96,504
	3,100	Leggett & Platt, Inc.		67,084
	3,100	Lennar Corp. Class A		53,351
	6,751	Mattel, Inc.		153,518
	5,633	Newell Rubbermaid, Inc.		85,622
	7,359	NIKE, Inc. Class B		540,886
	1,000	Polo Ralph Lauren Corp.		85,040
	5,413	Pulte Group, Inc.^*		60,896
	2,952	Stanley Black & Decker, Inc.		169,474
	1,600	VF Corp.		128,240
	1,459	Whirlpool Corp.		127,298

				2,075,638

Consumer Services — 1.7%
	2,400	Apollo Group, Inc. Class A^*		147,096
	8,200	Carnival Corp.		318,816
	2,720	Darden Restaurants, Inc.		121,149
	1,100	DeVry, Inc.		71,720
	6,500	H&R Block, Inc.		115,700
	5,700	International Game Technology		105,165
	4,663	Marriott International, Inc. Class A		146,978
	20,397	McDonald’s Corp.		1,360,888
	14,156	Starbucks Corp.^*		343,566
	3,600	Starwood Hotels & Resorts Worldwide, Inc.		167,904
	3,426	Wyndham Worldwide Corp.		88,151
	1,300	Wynn Resorts Ltd.		98,579
	8,997	Yum! Brands, Inc.		344,855

				3,430,567

Diversified Financials — 8.0%
	22,631	American Express Co.		933,755

GOLDMAN SACHS VARIABLE INSURANCE TRUST EQUITY INDEX FUND

Schedule of Investments (continued)

March 31, 2010 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Diversified Financials — (continued)
	4,880	Ameriprise Financial, Inc.	$	221,357
	188,992	Bank of America Corp.		3,373,507
	8,333	Capital One Financial Corp.		345,070
	368,540	Citigroup, Inc.^*		1,492,587
	1,239	CME Group, Inc.		391,660
	10,317	Discover Financial Services		153,723
	27,500	E^Trade Financial Corp.^		45,375
	1,656	Federated Investors, Inc. Class B		43,685
	2,830	Franklin Resources, Inc.		313,847
	1,400	IntercontinentalExchange, Inc.^*		157,052
	8,400	Invesco Ltd.		184,044
	3,700	Janus Capital Group, Inc.		52,873
	75,134	JPMorgan Chase & Co.		3,362,247
	3,100	Legg Mason, Inc.		88,877
	3,800	Leucadia National Corp.^*		94,278
	3,600	Moody’s Corp.		107,100
	25,847	Morgan Stanley		757,059
	4,500	Northern Trust Corp.		248,670
	4,700	NYSE Euronext		139,167
	8,571	SLM Corp.^*		107,309
	9,267	State Street Corp.		418,312
	4,900	T. Rowe Price Group, Inc.		269,157
	22,915	The Bank of New York Mellon Corp.		707,615
	17,742	The Charles Schwab Corp.		331,598
	9,977	The Goldman Sachs Group, Inc.^(a)		1,702,376
	2,800	The NASDAQ OMX Group, Inc.^*		59,136

				16,101,436

Energy — 10.8%
	9,318	Anadarko Petroleum Corp.		678,630
	6,416	Apache Corp.		651,224
	5,993	Baker Hughes, Inc.		280,712
	5,800	BJ Services Co.		124,120
	2,100	Cabot Oil & Gas Corp.		77,280
	4,500	Cameron International Corp.^*		192,870
	12,217	Chesapeake Energy Corp.		288,810
	37,973	Chevron Corp.		2,879,493
	28,052	ConocoPhillips		1,435,421
	3,400	Consol Energy, Inc.		145,044
	7,500	Denbury Resources, Inc.^*		126,525
	8,472	Devon Energy Corp.		545,851
	1,200	Diamond Offshore Drilling, Inc.		106,572
	13,630	El Paso Corp.		147,749
	4,781	EOG Resources, Inc.		444,346
	88,963	Exxon Mobil Corp.		5,958,742
	2,423	FMC Technologies, Inc.^*		156,599
	17,117	Halliburton Co.		515,735
	2,000	Helmerich & Payne, Inc.		76,160
	5,600	Hess Corp.		350,280
	13,608	Marathon Oil Corp.		430,557
	1,700	Massey Energy Co.		88,893
	3,600	Murphy Oil Corp.		202,284
	5,300	Nabors Industries Ltd.^*		104,039
	7,818	National-Oilwell Varco, Inc.		317,254
	3,300	Noble Energy, Inc.		240,900
	15,300	Occidental Petroleum Corp.		1,293,462
	5,106	Peabody Energy Corp.		233,344


Shares		Description	Value
Common Stocks — (continued)
Energy — (continued)
	2,300	Pioneer Natural Resources Co.	$	129,536
	3,100	Range Resources Corp.		145,297
	2,300	Rowan Companies, Inc.^*		66,953
	22,493	Schlumberger Ltd.		1,427,406
	4,600	Smith International, Inc.		196,972
	6,400	Southwestern Energy Co.^*		260,608
	12,342	Spectra Energy Corp.		278,065
	2,300	Sunoco, Inc.		68,333
	3,000	Tesoro Corp.		41,700
	11,083	The Williams Companies, Inc.		256,017
	10,813	Valero Energy Corp.		213,016
	11,050	XTO Energy, Inc.		521,339

				21,698,138

Food & Staples Retailing — 2.7%
	8,287	Costco Wholesale Corp.		494,817
	26,064	CVS Caremark Corp.		952,900
	7,700	Safeway, Inc.		191,422
	4,273	SUPERVALU, Inc.		71,273
	11,200	Sysco Corp.		330,400
	12,432	The Kroger Co.		269,277
	18,800	Walgreen Co.		697,292
	40,160	Wal-Mart Stores, Inc.		2,232,896
	3,100	Whole Foods Market, Inc.^*		112,065

				5,352,342

Food, Beverage & Tobacco — 5.8%
	39,526	Altria Group, Inc.		811,074
	11,933	Archer-Daniels-Midland Co.		344,864
	2,050	Brown-Forman Corp. Class B		121,872
	3,700	Campbell Soup Co.		130,795
	6,150	Coca-Cola Enterprises, Inc.		170,109
	8,300	ConAgra Foods, Inc.		208,081
	3,400	Constellation Brands, Inc. Class A^*		55,896
	3,300	Dean Foods Co.^*		51,777
	4,900	Dr. Pepper Snapple Group, Inc.		172,333
	6,162	General Mills, Inc.		436,208
	5,968	H.J. Heinz Co.		272,200
	1,200	Hormel Foods Corp.		50,412
	4,900	Kellogg Co.		261,807
	32,657	Kraft Foods, Inc. Class A		987,548
	2,816	Lorillard, Inc.		211,876
	2,400	McCormick & Co., Inc.		92,064
	3,902	Mead Johnson Nutrition Co. Class A		203,021
	3,100	Molson Coors Brewing Co. Class B		130,386
	30,762	PepsiCo, Inc.		2,035,214
	35,544	Philip Morris International, Inc.		1,853,975
	3,145	Reynolds American, Inc.		169,767
	13,000	Sara Lee Corp.		181,090
	43,380	The Coca-Cola Co.		2,385,900
	3,200	The Hershey Co.		136,992
	2,234	The J.M. Smucker Co.		134,621
	5,400	Tyson Foods, Inc. Class A		103,410

				11,713,292

Health Care Equipment & Services — 4.0%
	8,389	Aetna, Inc.		294,538
	5,460	AmerisourceBergen Corp.		157,903

GOLDMAN SACHS VARIABLE INSURANCE TRUST EQUITY INDEX FUND

Schedule of Investments (continued)

March 31, 2010 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Health Care Equipment & Services — (continued)
	11,510	Baxter International, Inc.	$	669,882
	4,523	Becton, Dickinson and Co.		356,096
	29,006	Boston Scientific Corp.^*		209,423
	1,767	C. R. Bard, Inc.		153,058
	6,832	Cardinal Health, Inc.		246,157
	3,416	CareFusion Corp.^*		90,285
	5,119	CIGNA Corp.		187,253
	2,600	Coventry Health Care, Inc.^*		64,272
	1,900	DaVita, Inc.^*		120,460
	2,900	DENTSPLY International, Inc.		101,065
	5,237	Express Scripts, Inc.^*		532,917
	3,090	Hospira, Inc.^*		175,048
	3,200	Humana, Inc.^*		149,664
	751	Intuitive Surgical, Inc.^*		261,446
	2,000	Laboratory Corp. of America Holdings^*		151,420
	5,164	McKesson Corp.		339,378
	8,637	Medco Health Solutions, Inc.^*		557,605
	20,858	Medtronic, Inc.		939,236
	1,681	Patterson Companies, Inc.		52,195
	2,700	Quest Diagnostics, Inc.		157,383
	5,980	St. Jude Medical, Inc.^*		245,479
	5,300	Stryker Corp.		303,266
	8,150	Tenet Healthcare Corp.^*		46,618
	21,670	UnitedHealth Group, Inc.		707,959
	2,300	Varian Medical Systems, Inc.^*		127,259
	8,264	WellPoint, Inc.^*		532,036
	4,017	Zimmer Holdings, Inc.^*		237,806

				8,167,107

Household & Personal Products — 2.6%
	8,000	Avon Products, Inc.		270,960
	9,248	Colgate-Palmolive Co.		788,484
	7,840	Kimberly-Clark Corp.		492,979
	2,600	The Clorox Co.		166,764
	2,200	The Estee Lauder Companies, Inc. Class A		142,714
	54,695	The Procter & Gamble Co.		3,460,553

				5,322,454

Insurance — 3.8%
	8,892	Aflac, Inc.		482,747
	2,441	American International Group, Inc.^*		83,336
	4,850	Aon Corp.		207,143
	2,100	Assurant, Inc.		72,198
	31,159	Berkshire Hathaway, Inc. Class B^*		2,532,292
	3,068	Cincinnati Financial Corp.		88,665
	8,600	Genworth Financial, Inc. Class A^*		157,724
	7,073	Hartford Financial Services Group, Inc.		201,015
	5,858	Lincoln National Corp.		179,841
	6,547	Loews Corp.		244,072
	9,788	Marsh & McLennan Companies, Inc.		239,023
	15,581	MetLife, Inc.		675,280
	6,032	Principal Financial Group, Inc.		176,195
	8,733	Prudential Financial, Inc.		528,346
	10,338	The Allstate Corp.		334,021
	6,349	The Chubb Corp.		329,196
	12,582	The Progressive Corp.		240,190
	9,684	The Travelers Companies, Inc.		522,355


Shares		Description	Value
Common Stocks — (continued)
Insurance — (continued)
	1,441	Torchmark Corp.	$	77,108
	6,418	Unum Group		158,974
	6,200	XL Capital Ltd. Class A		117,180

				7,646,901

Materials — 3.4%
	4,000	Air Products & Chemicals, Inc.		295,800
	1,500	Airgas, Inc.		95,430
	2,200	AK Steel Holding Corp.		50,292
	18,268	Alcoa, Inc.		260,136
	1,851	Allegheny Technologies, Inc.		99,936
	1,800	Ball Corp.		96,084
	1,900	Bemis Co., Inc.		54,568
	890	CF Industries Holdings, Inc.		81,150
	2,494	Cliffs Natural Resources, Inc.		176,949
	17,138	E.I. du Pont de Nemours & Co.		638,219
	1,400	Eastman Chemical Co.		89,152
	4,412	Ecolab, Inc.		193,907
	1,300	FMC Corp.		78,702
	8,218	Freeport-McMoRan Copper & Gold, Inc.		686,532
	1,400	International Flavors & Fragrances, Inc.		66,738
	8,459	International Paper Co.		208,176
	3,198	MeadWestvaco Corp.		81,709
	10,354	Monsanto Co.		739,483
	9,387	Newmont Mining Corp.		478,080
	5,900	Nucor Corp.		267,742
	3,000	Owens-Illinois, Inc.^*		106,620
	2,700	Pactiv Corp.^*		67,986
	3,200	PPG Industries, Inc.		209,280
	5,800	Praxair, Inc.		481,400
	3,316	Sealed Air Corp.		69,901
	2,200	Sigma-Aldrich Corp.		118,052
	21,713	The Dow Chemical Co.		642,054
	1,500	Titanium Metals Corp.^*		24,885
	2,720	United States Steel Corp.		172,774
	2,400	Vulcan Materials Co.		113,376
	3,892	Weyerhaeuser Co.		176,191

				6,921,304

Media — 3.0%
	12,964	CBS Corp. Class B		180,718
	53,212	Comcast Corp. Class A		1,001,450
	17,492	DIRECTV Class A^*		591,404
	5,400	Discovery Communications, Inc. Class A^*		182,466
	4,271	Gannett Co., Inc.		70,557
	500	Meredith Corp.		17,205
	42,786	News Corp. Class A		616,546
	6,048	Omnicom Group, Inc.		234,723
	1,700	Scripps Networks Interactive, Inc. Class A		75,395
	8,571	The Interpublic Group of Companies, Inc.^*		71,311
	5,808	The McGraw-Hill Companies, Inc.		207,055
	2,200	The New York Times Co. Class A^*		24,486
	36,329	The Walt Disney Co.		1,268,245
	133	The Washington Post Co. Class B		59,076

GOLDMAN SACHS VARIABLE INSURANCE TRUST EQUITY INDEX FUND

Schedule of Investments (continued)

March 31, 2010 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Media — (continued)
	6,796	Time Warner Cable, Inc.	$	362,295
	21,471	Time Warner, Inc.		671,398
	11,644	Viacom, Inc. Class B^*		400,321

				6,034,651

Pharmaceuticals, Biotechnology & Life Sciences — 8.0%
	29,298	Abbott Laboratories		1,543,419
	5,900	Allergan, Inc.		385,388
	18,468	Amgen, Inc.^*		1,103,648
	5,115	Biogen Idec, Inc.^*		293,396
	32,626	Bristol-Myers Squibb Co.		871,114
	8,700	Celgene Corp.^*		539,052
	1,400	Cephalon, Inc.^*		94,892
	19,242	Eli Lilly & Co.		696,945
	5,600	Forest Laboratories, Inc.^*		175,616
	5,125	Genzyme Corp.^*		265,629
	17,200	Gilead Sciences, Inc.^*		782,256
	51,794	Johnson & Johnson		3,376,969
	4,666	King Pharmaceuticals, Inc.^*		54,872
	3,470	Life Technologies Corp.^*		181,377
	58,869	Merck & Co., Inc.		2,198,757
	1,000	Millipore Corp.^*		105,600
	5,900	Mylan, Inc.^*		133,989
	2,300	PerkinElmer, Inc.		54,970
	151,956	Pfizer, Inc.		2,606,045
	7,768	Thermo Fisher Scientific, Inc.^*		399,586
	1,800	Waters Corp.^*		121,572
	2,100	Watson Pharmaceuticals, Inc.^*		87,717

				16,072,809

Real Estate — 1.2%
	2,080	Apartment Investment & Management Co. Class A (REIT)		38,293
	1,591	AvalonBay Communities, Inc. (REIT)		137,383
	2,627	Boston Properties, Inc. (REIT)		198,181
	4,300	CB Richard Ellis Group, Inc. Class A^*		68,155
	223	Developers Diversified Realty Corp. (REIT)		2,714
	5,200	Equity Residential (REIT)		203,580
	5,600	HCP, Inc. (REIT)		184,800
	2,400	Health Care REIT, Inc. (REIT)		108,552
	11,652	Host Hotels & Resorts, Inc. (REIT)		170,702
	7,800	Kimco Realty Corp. (REIT)		121,992
	3,200	Plum Creek Timber Co., Inc. (REIT)		124,512
	9,300	ProLogis (REIT)		122,760
	2,551	Public Storage, Inc. (REIT)		234,666
	5,407	Simon Property Group, Inc. (REIT)		453,647
	2,900	Ventas, Inc. (REIT)		137,692
	2,922	Vornado Realty Trust (REIT)		221,195

				2,528,824

Retailing — 3.6%
	1,777	Abercrombie & Fitch Co. Class A		81,102
	6,338	Amazon.com, Inc.^*		860,257
	1,672	AutoNation, Inc.^*		30,230
	579	AutoZone, Inc.^*		100,219
	4,924	Bed Bath & Beyond, Inc.^*		215,474
	6,550	Best Buy Co., Inc.		278,637


Shares		Description	Value
Common Stocks — (continued)
Retailing — (continued)
	1,700	Big Lots, Inc.^*	$	61,914
	3,800	Expedia, Inc.		94,848
	2,700	Family Dollar Stores, Inc.		98,847
	3,200	GameStop Corp. Class A^*		70,112
	3,140	Genuine Parts Co.		132,634
	4,600	J.C. Penney Co., Inc.		147,982
	5,719	Kohl’s Corp.^*		313,287
	5,000	Limited Brands, Inc.		123,100
	28,036	Lowe’s Companies, Inc.		679,593
	8,134	Macy’s, Inc.		177,077
	3,224	Nordstrom, Inc.		131,700
	5,100	Office Depot, Inc.^*		40,698
	2,500	O’Reilly Automotive, Inc.^*		104,275
	860	Priceline.com, Inc.^*		219,300
	2,300	RadioShack Corp.		52,049
	2,378	Ross Stores, Inc.		127,152
	900	Sears Holdings Corp.^*		97,587
	13,897	Staples, Inc.		325,051
	14,339	Target Corp.		754,231
	8,950	The Gap, Inc.		206,835
	32,064	The Home Depot, Inc.		1,037,270
	1,600	The Sherwin-Williams Co.		108,288
	8,093	The TJX Companies, Inc.		344,114
	2,400	Tiffany & Co.		113,976
	2,500	Urban Outfitters, Inc.^*		95,075

				7,222,914

Semiconductors & Semiconductor Equipment — 2.5%
	10,200	Advanced Micro Devices, Inc.^*		94,554
	5,474	Altera Corp.		133,073
	5,400	Analog Devices, Inc.		155,628
	25,122	Applied Materials, Inc.		338,644
	8,250	Broadcom Corp. Class A		273,735
	103,980	Intel Corp.		2,314,595
	3,425	KLA-Tencor Corp.		105,901
	4,200	Linear Technology Corp.		118,776
	12,700	LSI Corp.^*		77,724
	3,700	MEMC Electronic Materials, Inc.^*		56,721
	3,600	Microchip Technology, Inc.		101,376
	15,643	Micron Technology, Inc.^*		162,531
	4,400	National Semiconductor Corp.		63,580
	1,865	Novellus Systems, Inc.^*		46,625
	10,650	NVIDIA Corp.^*		185,097
	3,400	Teradyne, Inc.^*		37,978
	23,228	Texas Instruments, Inc.		568,389
	5,100	Xilinx, Inc.		130,050

				4,964,977

Software & Services — 7.4%
	10,115	Adobe Systems, Inc.^*		357,768
	3,300	Akamai Technologies, Inc.^*		103,653
	4,500	Autodesk, Inc.^*		132,390
	9,500	Automatic Data Processing, Inc.		422,465
	3,500	BMC Software, Inc.^*		133,000
	7,804	CA, Inc.		183,160
	3,400	Citrix Systems, Inc.^*		161,398
	5,635	Cognizant Technology Solutions Corp. Class A^*		287,272

GOLDMAN SACHS VARIABLE INSURANCE TRUST EQUITY INDEX FUND

Schedule of Investments (continued)

March 31, 2010 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Software & Services — (continued)
	3,000	Computer Sciences Corp.^*	$	163,470
	4,700	Compuware Corp.^*		39,480
	21,344	eBay, Inc.^*		575,221
	6,000	Electronic Arts, Inc.^*		111,960
	6,400	Fidelity National Information Services, Inc.		150,016
	3,050	Fiserv, Inc.^*		154,818
	4,549	Google, Inc. Class A^*		2,579,329
	6,100	Intuit, Inc.^*		209,474
	1,800	Mastercard, Inc. Class A		457,200
	2,900	McAfee, Inc.^*		116,377
	143,747	Microsoft Corp.		4,207,475
	2,600	Monster Worldwide, Inc.^*		43,186
	7,400	Novell, Inc.^*		44,326
	73,563	Oracle Corp.		1,889,833
	6,009	Paychex, Inc.		184,476
	3,655	Red Hat, Inc.^*		106,982
	5,833	SAIC, Inc.^*		103,244
	2,100	Salesforce.com, Inc.^*		156,345
	15,512	Symantec Corp.^*		262,463
	12,919	The Western Union Co.		219,106
	4,100	Total System Services, Inc.		64,206
	3,402	VeriSign, Inc.^*		88,486
	8,380	Visa, Inc. Class A		762,831
	22,200	Yahoo!, Inc.^*		366,966

				14,838,376

Technology Hardware & Equipment — 8.9%
	6,596	Agilent Technologies, Inc.^*		226,836
	3,400	Amphenol Corp. Class A		143,446
	17,123	Apple, Inc.^*		4,022,706
	108,358	Cisco Systems, Inc.^*		2,820,559
	29,525	Corning, Inc.		596,700
	32,600	Dell, Inc.^*		489,326
	38,472	EMC Corp.^*		694,035
	2,900	FLIR Systems, Inc.^*		81,780
	2,400	Harris Corp.		113,976
	44,533	Hewlett-Packard Co.		2,366,929
	24,547	International Business Machines Corp.		3,148,153
	3,783	Jabil Circuit, Inc.		61,247
	4,625	JDS Uniphase Corp.^*		57,951
	10,100	Juniper Networks, Inc.^*		309,868
	1,600	Lexmark International, Inc. Class A^*		57,728
	2,725	Molex, Inc.		56,844
	44,682	Motorola, Inc.^*		313,668
	6,411	NetApp, Inc.^*		208,742
	2,300	QLogic Corp.^*		46,690
	31,518	QUALCOMM, Inc.		1,323,441
	4,400	SanDisk Corp.^*		152,372
	6,600	Tellabs, Inc.		49,962
	3,100	Teradata Corp.^*		89,559
	4,200	Western Digital Corp.^*		163,758
	25,676	Xerox Corp.		250,341

				17,846,617

Telecommunication Services — 2.8%
	7,540	American Tower Corp. Class A^*		321,279
	111,106	AT&T, Inc.		2,870,979


Shares		Description	Value
Common Stocks — (continued)
Telecommunication Services — (continued)
	5,827	CenturyTel, Inc.	$	206,626
	6,600	Frontier Communications Corp.		49,104
	5,400	MetroPCS Communications, Inc.^*		38,232
	27,663	Qwest Communications International, Inc.		144,401
	54,510	Sprint Nextel Corp.^*		207,138
	53,343	Verizon Communications, Inc.		1,654,700
	7,681	Windstream Corp.		83,646

				5,576,105

Transportation — 1.9%
	3,130	C.H. Robinson Worldwide, Inc.		174,810
	7,262	CSX Corp.		369,636
	4,100	Expeditors International of Washington, Inc.		151,372
	5,900	FedEx Corp.		551,060
	6,935	Norfolk Southern Corp.		387,597
	1,100	Ryder System, Inc.		42,636
	14,018	Southwest Airlines Co.		185,318
	9,620	Union Pacific Corp.		705,146
	18,692	United Parcel Service, Inc. Class B		1,203,952

				3,771,527

Utilities — 3.4%
	3,500	Allegheny Energy, Inc.		80,500
	4,477	Ameren Corp.		116,760
	9,191	American Electric Power Co., Inc.		314,148
	7,198	CenterPoint Energy, Inc.		103,363
	4,200	CMS Energy Corp.		64,932
	5,200	Consolidated Edison, Inc.		231,608
	3,877	Constellation Energy Group, Inc.		136,121
	11,247	Dominion Resources, Inc.		462,364
	3,100	DTE Energy Co.		138,260
	24,693	Duke Energy Corp.		402,990
	6,269	Edison International		214,212
	3,475	Entergy Corp.		282,691
	2,400	EQT Corp.		98,400
	12,481	Exelon Corp.		546,793
	5,811	FirstEnergy Corp.		227,152
	7,846	FPL Group, Inc.		379,197
	1,431	Integrys Energy Group, Inc.		67,801
	1,000	Nicor, Inc.		41,920
	5,300	NiSource, Inc.		83,740
	3,290	Northeast Utilities		90,936
	5,000	NRG Energy, Inc.^*		104,500
	2,000	Oneok, Inc.		91,300
	4,300	Pepco Holdings, Inc.		73,745
	7,031	PG&E Corp.		298,255
	2,000	Pinnacle West Capital Corp.		75,460
	7,051	PPL Corp.		195,383
	5,177	Progress Energy, Inc.		203,767
	9,742	Public Service Enterprise Group, Inc.		287,584
	3,350	Questar Corp.		144,720
	2,131	SCANA Corp.		80,104
	4,613	Sempra Energy		230,189
	15,141	Southern Co.		502,076
	3,600	TECO Energy, Inc.		57,204
	13,164	The AES Corp.^*		144,804

GOLDMAN SACHS VARIABLE INSURANCE TRUST EQUITY INDEX FUND

Schedule of Investments (continued)

March 31, 2010 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Utilities — (continued)
	2,100	Wisconsin Energy Corp.	$	103,761
	8,510	Xcel Energy, Inc.		180,412

				6,857,152

TOTAL COMMON STOCKS			$	199,210,795

Principal

Interest

Maturity

Amount

Rate

Date

Value

U.S. Treasury Obligation^(b)^(c) — 0.2%

United States Treasury Bill

355,000

0.000

06/17/10

354,886


Shares		Rate			Value
Short-term Investment^(d) — 0.9%
JPMorgan U.S. Government Money Market Fund — Capital Shares
	1,769,201		0.031	%	$	1,769,201

TOTAL INVESTMENTS — 100.0%					$	201,334,882

OTHER ASSETS IN EXCESS OF LIABILITIES — 0.0%						91,313

NET ASSETS — 100.0%					$	201,426,195

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) Issued with zero coupon. Income is recognized through the accretion of discount.

(d) Variable rate security. Interest rate disclosed is that which is in effect at March 31, 2010.



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)

March 31, 2010 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FUTURES CONTRACTS — At March 31, 2010, the following futures contracts were open:

Number of

Contracts

Expiration

Current

Unrealized

Type

Long

Date

Value

Gain (Loss)

S&P 500 E-mini Index

June 2010

2,505,180

41,486

TAX INFORMATION — At March 31, 2010, the Fund’s aggregate security unrealized gains and losses based on cost for U.S. federal income tax purposes were as follows:



Tax Cost	$	200,514,772

Gross unrealized gain		30,558,612
Gross unrealized loss		(29,738,502	)

Net unrealized security gain	$	820,110

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

March 31, 2010 (Unaudited)


Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — 48.8%
Adjustable Rate Non-Agency^(a) — 1.5%
First Horizon Alternative Mortgage Securities Series 2005-AA7, Class 2A1
$	479,680		5.387	%	09/25/35	$	335,412
Harborview Mortgage Loan Trust Series 2006-6, Class 3A1A
	482,979		5.811		08/19/36		316,493
J.P. Morgan Mortgage Trust Series 2007-A1, Class 2A2
	486,003		3.559		07/25/35		470,802

							1,122,707

Collateralized Mortgage Obligations — 4.1%
Interest Only^(a)^(b) — 0.0%
FNMA REMIC Series 2004-47, Class EI
	292,796		0.000		06/25/34		2,054
FNMA REMIC Series 2004-62, Class DI
	131,791		0.000		07/25/33		835

							2,889

Planned Amortization Class — 0.0%
FHLMC REMIC Series 2003-2719, Class GC
	26,774		5.000		06/15/26		26,730

Regular Floater^(a) — 1.8%
FHLMC REMIC Series 2007-3325, Class SX^(c)
	36,974		0.000		06/15/37		34,912
FNMA REMIC Series 2007-2, Class FM
	618,994		0.496		02/25/37		606,407
FNMA REMIC Series 2007-20, Class FP
	660,065		0.546		03/25/37		653,194
FNMA REMIC Series 2007-53, Class UF^(c)
	38,453		0.000		06/25/37		35,655

							1,330,168

Sequential Fixed Rate — 2.3%
Banc of America Funding Corp. Series 2007-8, Class 2A1
	620,024		7.000		10/25/37		408,295
FHLMC REMIC Series 2007-3284, Class CA
	507,876		5.000		10/15/21		535,937
FNMA REMIC Series 2007-36, Class AB
	732,687		5.000		11/25/21		772,492

							1,716,724

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS						$	3,076,511

Federal Agencies — 43.2%
Adjustable Rate FHLMC^(a) — 1.3%
$	527,863		4.845	%	09/01/35	$	548,077
	417,841		4.686		10/01/35		436,886

							984,963

Adjustable Rate FNMA^(a) — 1.7%
	237,436		3.340		05/01/33		243,905
	537,106		2.912		05/01/35		557,318
	442,265		5.116		12/01/35		461,941

							1,263,164

FHLMC — 4.3%
	5,487		10.000		03/01/21		6,066
	7,989		6.500		06/01/23		8,681
	187,842		5.000		05/01/39		194,695


Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
Federal Agencies — (continued)
FHLMC — (continued)
$	855,084		5.000	%	06/01/39	$	885,862
	287,795		5.000		07/01/39		298,086
	492,909		5.000		10/01/39		510,183
	296,603		5.000		12/01/39		307,424
	1,000,000		5.500		TBA-30yr^(d)		1,056,016

							3,267,013

FNMA — 34.8%
	2,509		5.000		02/01/14		2,595
	43,322		5.000		11/01/17		46,182
	207,281		5.000		12/01/17		220,969
	160,779		5.000		01/01/18		171,396
	66,723		5.000		02/01/18		71,263
	183,814		5.000		03/01/18		196,320
	585,313		5.000		04/01/18		625,135
	290,981		5.000		05/01/18		310,777
	593,352		5.000		06/01/18		633,721
	16,880		5.000		07/01/18		18,029
	1,055,413		4.000		09/01/18		1,096,070
	383,765		5.000		11/01/18		409,874
	501,635		5.000		12/01/18		535,764
	36,540		5.000		01/01/19		39,026
	88,841		5.000		02/01/19		94,780
	395,302		5.000		03/01/19		421,726
	802,144		5.500		03/01/19		864,311
	350,754		5.000		04/01/19		374,200
	453,354		5.000		06/01/19		484,198
	278,226		6.000		09/01/19		301,374
	429,834		5.000		12/01/19		458,654
	345,488		6.000		12/01/20		374,232
	12,200		8.000		09/01/21		14,030
	16,487		5.000		04/01/23		17,412
	83,991		5.000		06/01/23		88,701
	78		6.000		03/01/32		84
	5,125		6.000		05/01/33		5,538
	30,651		5.000		08/01/33		31,848
	3,034		6.000		12/01/33		3,276
	2,474		6.000		12/01/34		2,663
	52,323		5.000		04/01/35		54,246
	3,444		6.000		04/01/35		3,697
	27,101		6.000		07/01/35		29,097
	63,948		6.000		11/01/35		68,257
	81,273		6.000		01/01/36		87,257
	7,246		6.000		02/01/36		7,698
	24,950		6.500		03/01/36		27,093
	327,749		5.000		03/01/38		338,465
	971,933		6.000		09/01/38		1,034,805
	174,970		5.000		02/01/39		181,046
	182,039		5.000		03/01/39		188,361
	205,189		5.000		04/01/39		212,315
	191,391		5.000		05/01/39		198,077
	67,037		4.500		06/01/39		67,391
	53,451		5.000		06/01/39		55,307
	629,762		5.000		07/01/39		651,743
	29,479		4.500		08/01/39		29,635

GOLDMAN SACHS VARIABLE INSURANCE TRUST GOVERNMENT INCOME FUND

Schedule of Investments (continued)

March 31, 2010 (Unaudited)


Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
Federal Agencies — (continued)
FNMA — (continued)
$	974,170		5.000	%	08/01/39	$	1,006,418
	97,904		4.500		09/01/39		98,420
	309,292		5.000		09/01/39		320,324
	295,781		4.500		10/01/39		297,124
	1,364,933		5.000		10/01/39		1,412,205
	671,128		5.000		11/01/39		694,433
	1,693,952		5.000		01/01/40		1,753,712
	81,721		5.000		02/01/40		84,559
	4,000,000		4.500		TBA-30yr^(d)		4,007,500
	1,000,000		5.500		TBA-30yr^(d)		1,048,047
	2,000,000		6.000		TBA-30yr^(d)		2,132,266
	2,000,000		6.500		TBA-30yr^(d)		2,159,765

							26,163,411

GNMA — 1.1%
	107,252		5.000		05/15/39		111,810
	466,984		5.000		06/15/39		487,073
	196,860		5.000		10/15/39		205,350

							804,233

TOTAL FEDERAL AGENCIES						$	32,482,784

TOTAL MORTGAGE-BACKED OBLIGATIONS						$	36,682,002


Agency Debentures — 18.8%
FFCB
$	500,000		5.400	%	06/08/17	$	555,545
FHLB
	800,000		1.750		12/14/12		802,321
FHLMC
	3,500,000		1.750		07/27/11		3,502,870
	1,500,000		4.500		04/02/14		1,623,526
FNMA
	1,500,000		2.050		04/01/11		1,500,000
	1,000,000		1.700		04/29/11		1,001,091
	1,200,000		4.600		06/05/18		1,246,668
Private Export Funding Corp.
	2,000,000		3.550		04/15/13		2,097,626
	1,100,000		3.050		10/15/14		1,105,152
Tennessee Valley Authority^(f)
	700,000		5.375		04/01/56		697,707

TOTAL AGENCY DEBENTURES						$	14,132,506


Asset-Backed Securities — 2.1%
Credit Card — 0.7%
Chase Issuance Trust Series 2005-A11, Class A^(a)
$	500,000		0.300	%	12/15/14	$	496,795

Home Equity — 0.1%
GMAC Mortgage Corp. Loan Trust Series 2007-HE3, Class 1A1
	55,936		7.000		09/25/37		32,993
GMAC Mortgage Corp. Loan Trust Series 2007-HE3, Class 2A1
	65,144		7.000		09/25/37		30,992

							63,985


Principal		Interest			Maturity
Amount		Rate			Date	Value
Asset-Backed Securities — (continued)
Student Loan — 1.3%
SLM Student Loan Trust Series 2006-7, Class A4^(a)
$	1,000,000		0.319	%	04/25/22	$	987,283

TOTAL ASSET-BACKED SECURITIES						$	1,548,063


Government Guarantee Obligations^(e) — 12.3%
Citigroup, Inc.^(a)
$	840,000		0.804	%	12/09/10	$	843,542
Citigroup Funding, Inc
	2,200,000		1.875		10/22/12		2,216,046
	600,000		1.875		11/15/12		604,267
GMAC, Inc.
	1,100,000		1.750		10/30/12		1,105,343
PNC Funding Corp.
	750,000		2.300		06/22/12		766,681
U.S. Central Federal Credit Union
	3,300,000		1.250		10/19/11		3,319,764
	400,000		1.900		10/19/12		403,686

TOTAL GOVERNMENT GUARANTEE OBLIGATIONS						$	9,259,329


U.S. Treasury Obligations — 13.6%
United States Treasury Bonds
$	100,000		4.250	%	05/15/39	$	92,664
	100,000		4.625		02/15/40		98,555
United States Treasury Inflation-Protected Securities
	1,900,000		0.875		04/15/10		2,173,728
	300,000		2.000		01/15/16		347,484
	300,000		2.500		07/15/16		351,663
	100,000		2.375		01/15/25		120,334
	100,000		2.000		01/15/26		108,604
	50,000		3.625		04/15/28		81,665
	100,000		2.125		02/15/40		99,384
United States Treasury Notes
	300,000		1.375		03/15/13		298,230
	200,000		2.500		03/31/15		199,430
	400,000		3.000		09/30/16		396,380
	1,600,000		3.125		10/31/16		1,594,640
	300,000		3.250		12/31/16		300,423
	200,000		3.000		02/28/17		196,878
	200,000		2.750		02/15/19		185,624
	1,400,000		3.625		08/15/19		1,382,850
United States Treasury Principal-Only STRIPS^(g)
	1,800,000		0.000		08/15/20		1,163,412
	300,000		0.000		08/15/26		138,059
	1,100,000		0.000		11/15/26		500,038
	800,000		0.000		11/15/27		344,160

TOTAL U.S. TREASURY OBLIGATIONS						$	10,174,205

GOLDMAN SACHS VARIABLE INSURANCE TRUST GOVERNMENT INCOME FUND

Schedule of Investments (continued)

March 31, 2010 (Unaudited)


Shares		Rate	Value
Short-term Investment^(a) — 18.5%
JPMorgan U.S. Government Money Market Fund — Capital Shares
	13,879,150	0.031%	$	13,879,150

TOTAL INVESTMENTS — 114.1%			$	85,675,255

LIABILITIES IN EXCESS OF OTHER ASSETS — (14.1)%				(10,575,383	)

NET ASSETS — 100.0%			$	75,099,872

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

(a) Variable rate security. Interest rate disclosed is that which is in effect at March 31, 2010.

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

(d) 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 $10,403,594, which represents approximately 13.9% of net assets as of March 31, 2010.

(e) 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 $9,259,329, which represents approximately 12.3% of net assets of March 31, 2010.

(f) A portion of this security is segregated as collateral for initial margin requirements on futures transactions.

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



Investment Abbreviations:
FFCB		— Federal Farm Credit Bank
FHLB		— Federal Home Loan Bank
FHLMC		— Federal Home Loan Mortgage Corp.
FNMA		— Federal National Mortgage Association
GNMA		— Government National Mortgage Association
LIBOR		— London Interbank Offered Rate
REMIC		— Real Estate Mortgage Investment Conduit
STRIPS		— Separate Trading of Registered Interest and Principal of Securities

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

GOLDMAN SACHS VARIABLE INSURANCE TRUST GOVERNMENT INCOME FUND

Schedule of Investments (continued)

March 31, 2010 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FUTURES CONTRACTS — At March 31, 2010, the following futures contracts were open:


	Number of
	Contracts			Expiration	Current		Unrealized
Type	Long			Date	Value		Gain (Loss)

Eurodollars		3		April 2010	$	747,675	$	30
Eurodollars		3		May 2010		747,488		55
Eurodollars		3		June 2010		747,225		82
Eurodollars		3	December 2010			743,775		293
U.S. Treasury Bonds		15		June 2010		1,741,875		(6,860	)
2 Year U.S. Treasury Notes		20		June 2010		4,339,062		(6,589	)
5 Year U.S. Treasury Notes		84		June 2010		9,646,875		(29,788	)
10 Year U.S. Treasury Notes		21		June 2010		2,441,250		(17,376	)

TOTAL							$	(60,153	)

TAX INFORMATION — At March 31, 2010, the Fund’s aggregate security unrealized gains and losses based on cost for U.S. federal income tax purposes were as follows:



Tax Cost	$	85,235,277

Gross unrealized gain		1,188,005
Gross unrealized loss		(748,027	)

Net unrealized security gain	$	439,978


Shares		Description	Value
Common Stocks — 98.5%
Automobiles & Components — 2.4%
	884,800	Ford Motor Co.^*	$	11,121,936
	372,553	Johnson Controls, Inc.		12,290,523

				23,412,459

Banks — 2.5%
	129,700	HSBC Holdings PLC ADR		6,574,493
	622,800	New York Community Bancorp, Inc.^(a)		10,301,112
	285,300	SunTrust Banks, Inc.		7,643,187

				24,518,792

Capital Goods — 9.8%
	347,800	Emerson Electric Co.		17,508,252
	1,633,500	General Electric Co.		29,729,700
	652,100	Honeywell International, Inc.		29,520,567
	242,400	The Boeing Co.		17,600,664

				94,359,183

Consumer Durables & Apparel — 0.9%
	545,200	Newell Rubbermaid, Inc.		8,287,040

Diversified Financials — 12.6%
	2,376,992	Bank of America Corp.		42,429,307
	66,500	Franklin Resources, Inc.		7,374,850
	483,400	Invesco Ltd.		10,591,294
	909,752	JPMorgan Chase & Co.		40,711,402
	157,200	State Street Corp.		7,096,008
	419,500	The Bank of New York Mellon Corp.		12,954,160

				121,157,021

Energy — 15.3%
	201,757	Anadarko Petroleum Corp.		14,693,962
	197,379	EOG Resources, Inc.		18,344,404
	198,723	Exxon Mobil Corp.		13,310,467
	469,200	Halliburton Co.		14,136,996
	243,582	Hess Corp.		15,236,054
	194,700	Newfield Exploration Co.^*		10,134,135
	398,479	Occidental Petroleum Corp.		33,687,415
	213,800	Range Resources Corp.		10,020,806
	268,300	Schlumberger Ltd.		17,026,318

				146,590,557

Food & Staples Retailing — 2.3%
	265,800	CVS Caremark Corp.		9,717,648
	214,906	Wal-Mart Stores, Inc.		11,948,774

				21,666,422

Food, Beverage & Tobacco — 5.3%
	200,600	General Mills, Inc.		14,200,474
	610,900	Kraft Foods, Inc. Class A		18,473,616
	182,638	Philip Morris International, Inc.		9,526,398
	275,970	Unilever NV		8,323,255

				50,523,743

Health Care Equipment & Services — 6.4%
	279,400	Aetna, Inc.		9,809,734
	441,318	Baxter International, Inc.		25,684,708
	312,900	Covidien PLC		15,732,612
	160,300	WellPoint, Inc.^*		10,320,114

				61,547,168

Insurance — 7.7%
	270,500	Aflac, Inc.		14,685,445
	106,300	Everest Re Group Ltd.		8,602,859


Shares		Description	Value
Common Stocks — (continued)
Insurance — (continued)
	225,100	Hartford Financial Services Group, Inc.	$	6,397,342
	409,300	Marsh & McLennan Companies, Inc.		9,995,106
	255,800	Prudential Financial, Inc.		15,475,900
	342,828	The Travelers Companies, Inc.		18,492,142

				73,648,794

Materials — 4.8%
	95,700	Air Products & Chemicals, Inc.		7,077,015
	199,200	Cliffs Natural Resources, Inc.		14,133,240
	324,000	Huntsman Corp.		3,904,200
	704,900	The Dow Chemical Co.		20,843,893

				45,958,348

Media — 5.0%
	649,900	CBS Corp. Class B		9,059,606
	357,100	DIRECTV Class A^*		12,073,551
	825,700	DISH Network Corp. Class A		17,191,074
	386,000	Reed Elsevier NV ADR		9,364,360

				47,688,591

Pharmaceuticals, Biotechnology & Life Sciences — 6.5%
	295,400	Biogen Idec, Inc.^*		16,944,144
	263,534	Johnson & Johnson		17,182,417
	747,225	Merck & Co., Inc.		27,908,854

				62,035,415

Real Estate Investment Trust — 1.6%
	295,500	Annaly Capital Management, Inc.		5,076,690
	85,400	Digital Realty Trust, Inc.		4,628,680
	713,700	MFA Financial, Inc.		5,252,832

				14,958,202

Retailing — 3.0%
	211,800	Bed Bath & Beyond, Inc.^*		9,268,368
	529,000	Staples, Inc.		12,373,310
	168,800	The TJX Companies, Inc.		7,177,376

				28,819,054

Software & Services — 1.5%
	574,900	Oracle Corp.		14,769,181

Technology Hardware & Equipment — 3.8%
	768,400	Cisco Systems, Inc.^*		20,001,452
	229,699	Hewlett-Packard Co.		12,208,502
	110,400	QUALCOMM, Inc.		4,635,696

				36,845,650

Telecommunication Services — 3.0%
	344,391	CenturyTel, Inc.		12,212,105
	4,347,549	Sprint Nextel Corp.^*		16,520,686

				28,732,791

Utilities — 4.1%
	252,013	American Electric Power Co., Inc.		8,613,804
	251,969	Entergy Corp.		20,497,678
	250,638	FirstEnergy Corp.		9,797,440

				38,908,922

TOTAL COMMON STOCKS			$	944,427,333

GOLDMAN SACHS VARIABLE INSURANCE TRUST GROWTH AND INCOME FUND †

Schedule of Investments (continued)

March 31, 2010 (Unaudited)


Shares			Rate	Value
Preferred Stock — 0.8%
Diversified Financials — 0.8%
	7,936,000	JPMorgan Chase & Co.	7.900%	$	8,460,570


Short-term Investment^(b) — 2.1%
JPMorgan U.S. Government Money Market Fund — Capital Shares
	19,840,426		0.031%	$	19,840,426

TOTAL INVESTMENTS BEFORE SECURITIES LENDING REINVESTMENT VEHICLE				$	972,728,329


Securities Lending Reinvestment Vehicle^(b)^(c) — 0.2%
Boston Global Investment Trust — Enhanced Portfolio
	1,771,940		0.078%	$	1,770,168

TOTAL INVESTMENTS — 101.6%				$	974,498,497

LIABILITIES IN EXCESS OF OTHER ASSETS — (1.6)%					(15,527,831	)

NET ASSETS — 100.0%				$	958,970,666

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

* Non-income producing security.

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

(b) Variable rate security. Interest rate disclosed is that which is in effect at March 31, 2010.



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.

† Effective April 30, 2010, the Goldman Sachs Variable Insurance Trust Growth and Income Fund changed its name to Goldman Sachs Variable Insurance Trust Large Cap Value Fund.

GOLDMAN SACHS VARIABLE INSURANCE TRUST GROWTH OPPORTUNITIES FUND

Schedule of Investments

March 31, 2010 (Unaudited)


Shares		Description	Value
Common Stocks — 100.1%
Banks — 1.9%
	156,300	People’s United Financial, Inc.	$	2,444,532

Capital Goods — 5.7%
	19,200	Alliant Techsystems, Inc.^*		1,560,960
	67,700	Kennametal, Inc.		1,903,724
	57,000	Quanta Services, Inc.^*		1,092,120
	26,090	Rockwell Automation, Inc.		1,470,432
	22,700	Roper Industries, Inc.		1,312,968

				7,340,204

Commercial & Professional Services — 3.1%
	112,400	Iron Mountain, Inc.		3,079,760
	33,700	Verisk Analytics, Inc. Class A^*		950,340

				4,030,100

Consumer Durables & Apparel — 7.2%
	61,200	Coach, Inc.		2,418,624
	37,210	Fortune Brands, Inc.		1,805,057
	147,200	Newell Rubbermaid, Inc.		2,237,440
	33,700	Polo Ralph Lauren Corp.		2,865,848

				9,326,969

Consumer Services — 0.9%
	19,300	Apollo Group, Inc. Class A^*		1,182,897

Diversified Financials — 8.0%
	25,900	IntercontinentalExchange, Inc.^*		2,905,462
	60,100	Northern Trust Corp.		3,321,126
	172,000	SLM Corp.^*		2,153,440
	104,700	TD Ameritrade Holding Corp.^*		1,995,582

				10,375,610

Energy — 9.3%
	75,600	Cameron International Corp.^*		3,240,216
	20,800	Continental Resources, Inc.^*		885,040
	16,000	Core Laboratories NV^(a)		2,092,800
	32,100	Dril-Quip, Inc.^*		1,952,964
	49,600	Petrohawk Energy Corp.^*		1,005,888
	25,700	Southwestern Energy Co.^*		1,046,504
	22,600	Whiting Petroleum Corp.^*		1,826,984

				12,050,396

Food, Beverage & Tobacco — 1.6%
	48,200	Hansen Natural Corp.^*		2,090,916

Health Care Equipment & Services — 7.7%
	27,305	C. R. Bard, Inc.		2,365,159
	38,700	CareFusion Corp.^*		1,022,841
	76,200	Emdeon, Inc. Class A^*		1,258,824
	28,800	Henry Schein, Inc.^*		1,696,320
	88,100	St. Jude Medical, Inc.^*		3,616,505

				9,959,649

Household & Personal Products — 3.7%
	73,600	Avon Products, Inc.		2,492,832
	36,800	Energizer Holdings, Inc.^*		2,309,568

				4,802,400

Materials — 3.1%
	62,600	Ecolab, Inc.		2,751,270
	27,600	Schweitzer-Mauduit International, Inc.		1,312,656

				4,063,926

Media — 1.1%
	40,000	Lamar Advertising Co. Class A^*		1,374,000


Shares		Description	Value
Common Stocks — (continued)
Pharmaceuticals, Biotechnology & Life Sciences — 7.0%
	93,100	Amylin Pharmaceuticals, Inc.^*	$	2,093,819
	48,100	Biogen Idec, Inc.^*		2,759,016
	76,390	Charles River Laboratories International, Inc.^*		3,002,891
	61,700	Talecris Biotherapeutics Holdings Corp.^*		1,229,064

				9,084,790

Real Estate — 2.5%
	205,000	CB Richard Ellis Group, Inc. Class A^*		3,249,250

Retailing — 10.8%
	15,000	Advance Auto Parts, Inc.		628,800
	45,800	Bed Bath & Beyond, Inc.^*		2,004,208
	57,000	Dick’s Sporting Goods, Inc.^*		1,488,270
	121,000	GameStop Corp. Class A^*		2,651,110
	29,431	Netflix, Inc.^*^(a)		2,170,242
	74,700	PetSmart, Inc.		2,387,412
	115,200	Staples, Inc.		2,694,528

				14,024,570

Semiconductors & Semiconductor Equipment — 7.8%
	84,500	Altera Corp.		2,054,195
	95,800	Broadcom Corp. Class A		3,178,644
	104,100	FormFactor, Inc.^*		1,848,816
	41,900	Linear Technology Corp.		1,184,932
	75,200	Xilinx, Inc.		1,917,600

				10,184,187

Software & Services — 9.6%
	34,200	Citrix Systems, Inc.^*		1,623,474
	26,720	Cognizant Technology Solutions Corp. Class A^*		1,362,186
	26,100	Equinix, Inc.^*		2,540,574
	55,300	Genpact Ltd.^*		927,381
	63,800	Global Payments, Inc.		2,906,090
	18,600	Salesforce.com, Inc.^*^(a)		1,384,770
	99,000	The Western Union Co.		1,679,040

				12,423,515

Technology Hardware & Equipment — 3.0%
	54,120	Amphenol Corp. Class A		2,283,323
	58,500	FLIR Systems, Inc.^*		1,649,700

				3,933,023

Telecommunication Services — 5.1%
	60,600	American Tower Corp. Class A^*		2,582,166
	43,300	Crown Castle International Corp.^*		1,655,359
	130,200	tw telecom, inc.^*		2,363,130

				6,600,655

Transportation — 1.0%
	23,300	C.H. Robinson Worldwide, Inc.		1,301,305

TOTAL COMMON STOCKS			$	129,842,894

GOLDMAN SACHS VARIABLE INSURANCE TRUST GROWTH OPPORTUNITIES FUND

Schedule of Investments (continued)

March 31, 2010 (Unaudited)


Shares		Rate	Value
Short-term Investment^(b) — 0.5%
JPMorgan U.S. Government Money Market Fund — Capital Shares
	658,772	0.031%	$	658,772

TOTAL INVESTMENTS BEFORE SECURITIES LENDING REINVESTMENT VEHICLE			$	130,501,666


Securities Lending Reinvestment Vehicle^(b)(c) — 2.3%
Boston Global Investment Trust — Enhanced Portfolio
	2,934,249	0.078%	$	2,931,314

TOTAL INVESTMENTS — 102.9%			$	133,432,980

LIABILITIES IN EXCESS OF OTHER ASSETS — (2.9)%				(3,736,824	)

NET ASSETS — 100.0%			$	129,696,156

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

* Non-income producing security.

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

(b) Variable rate security. Interest rate disclosed is that which is in effect at March 31, 2010.

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

GOLDMAN SACHS VARIABLE INSURANCE TRUST MID CAP VALUE FUND

Schedule of Investments

March 31, 2010 (Unaudited)


Shares		Description	Value
Common Stocks — 100.0%
Automobiles & Components — 2.3%
	519,400	Harley-Davidson, Inc.	$	14,579,558
	257,659	Johnson Controls, Inc.		8,500,170

				23,079,728

Banks — 6.6%
	316,800	Comerica, Inc.		12,051,072
	1,101,000	Fifth Third Bancorp		14,962,590
	712,354	First Horizon National Corp.^*		10,008,570
	95,230	M&T Bank Corp.^(a)		7,559,357
	683,100	Marshall & Ilsley Corp.		5,498,955
	617,900	SunTrust Banks, Inc.		16,553,541

				66,634,085

Capital Goods — 7.6%
	234,000	BE Aerospace, Inc.^*		7,125,300
	154,294	Cooper Industries PLC Class A		7,396,854
	166,100	Cummins, Inc.		10,289,895
	237,081	Eaton Corp.		17,963,628
	103,200	Fluor Corp.		4,799,832
	216,354	Parker Hannifin Corp.		14,006,758
	168,500	Pentair, Inc.		6,001,970
	120,800	Snap-On, Inc.		5,235,472
	139,300	Textron, Inc.		2,957,339

				75,777,048

Commercial & Professional Services — 1.9%
	294,500	Equifax, Inc.		10,543,100
	298,461	Republic Services, Inc.		8,661,338

				19,204,438

Consumer Durables & Apparel — 3.3%
	163,500	Fossil, Inc.^*		6,170,490
	121,500	Hanesbrands, Inc.^*		3,380,130
	956,000	Newell Rubbermaid, Inc.		14,531,200
	12,800	NVR, Inc.^*		9,299,200

				33,381,020

Consumer Services — 0.7%
	247,500	Penn National Gaming, Inc.^*		6,880,500

Diversified Financials — 4.2%
	831,500	Invesco Ltd.		18,218,165
	445,200	Janus Capital Group, Inc.		6,361,908
	83,200	Raymond James Financial, Inc.		2,224,768
	1,239,930	SLM Corp.^*		15,523,924

				42,328,765

Energy — 10.5%
	187,800	Concho Resources, Inc.^*		9,457,608
	249,802	Dril-Quip, Inc.^*		15,197,954
	327,600	Forest Oil Corp.^*		8,458,632
	450,528	Newfield Exploration Co.^*		23,449,982
	55,900	Oceaneering International, Inc.^*		3,549,091
	374,811	Range Resources Corp.		17,567,392
	475,900	Weatherford International Ltd.^*		7,547,774
	245,000	Whiting Petroleum Corp.^*		19,805,800

				105,034,233

Food & Staples Retailing — 1.7%
	201,100	BJ’s Wholesale Club, Inc.^*		7,438,689
	404,900	Safeway, Inc.		10,065,814

				17,504,503


Shares		Description	Value
Common Stocks — (continued)
Food, Beverage & Tobacco — 1.9%
	64,400	Hormel Foods Corp.	$	2,705,444
	219,600	Molson Coors Brewing Co. Class B		9,236,376
	121,900	Sara Lee Corp.		1,698,067
	93,600	The J.M. Smucker Co.		5,640,336

				19,280,223

Health Care Equipment & Services — 3.9%
	421,300	Aetna, Inc.		14,791,843
	139,500	C. R. Bard, Inc.		12,083,490
	382,100	Hologic, Inc.^*		7,084,134
	101,500	Kinetic Concepts, Inc.^*		4,852,715

				38,812,182

Insurance — 12.3%
	177,989	Everest Re Group Ltd.		14,404,650
	574,400	Genworth Financial, Inc. Class A^*		10,534,496
	637,500	Hartford Financial Services Group, Inc.		18,117,750
	192,600	Lincoln National Corp.		5,912,820
	565,400	Marsh & McLennan Companies, Inc.		13,807,068
	644,000	Principal Financial Group, Inc.		18,811,240
	431,400	The Progressive Corp.		8,235,426
	785,599	W.R. Berkley Corp.		20,496,278
	687,000	XL Capital Ltd. Class A		12,984,300

				123,304,028

Materials — 7.2%
	41,700	CF Industries Holdings, Inc.		3,802,206
	217,100	Cliffs Natural Resources, Inc.		15,403,245
	156,511	FMC Corp.		9,475,176
	564,100	Huntsman Corp.		6,797,405
	388,200	International Paper Co.		9,553,602
	240,200	Pactiv Corp.^*		6,048,236
	292,100	Steel Dynamics, Inc.		5,102,987
	129,500	United States Steel Corp.		8,225,840
	164,200	Vulcan Materials Co.		7,756,808

				72,165,505

Media — 4.0%
	1,376,209	CBS Corp. Class B		19,184,353
	994,500	DISH Network Corp. Class A		20,705,490

				39,889,843

Pharmaceuticals, Biotechnology & Life Sciences — 1.5%
	254,400	Biogen Idec, Inc.^*		14,592,384

Real Estate Investment Trust — 6.7%
	153,518	Alexandria Real Estate Equities, Inc.		10,377,817
	96,100	AvalonBay Communities, Inc.		8,298,235
	163,702	Boston Properties, Inc.		12,349,679
	221,600	Digital Realty Trust, Inc.^(a)		12,010,720
	400,800	Douglas Emmett, Inc.		6,160,296
	83,400	Essex Property Trust, Inc.		7,501,830
	736,014	Host Hotels & Resorts, Inc.		10,782,605

				67,481,182

Retailing — 3.9%
	79,200	Abercrombie & Fitch Co. Class A		3,614,688
	189,800	Guess?, Inc.		8,916,804
	371,501	J.C. Penney Co., Inc.		11,951,187

GOLDMAN SACHS VARIABLE INSURANCE TRUST MID CAP VALUE FUND

Schedule of Investments (continued)

March 31, 2010 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Retailing — (continued)
	984,000	Liberty Media Corp. — Interactive Class A^*	$	15,065,040

				39,547,719

Semiconductors & Semiconductor Equipment — 1.7%
	1,459,600	ON Semiconductor Corp.^*		11,676,800
	437,400	Teradyne, Inc.^*(a)		4,885,758

				16,562,558

Software & Services — 2.3%
	508,000	IAC/InterActiveCorp^*		11,551,920
	616,100	Parametric Technology Corp.^*		11,120,605

				22,672,525

Technology Hardware & Equipment — 2.2%
	263,869	Amphenol Corp. Class A		11,132,633
	377,596	CommScope, Inc.^*		10,580,240

				21,712,873

Telecommunication Services — 2.6%
	191,258	CenturyTel, Inc.		6,782,009
	956,300	Clearwire Corp. Class A^*(a)		6,837,545
	3,259,000	Sprint Nextel Corp.^*		12,384,200

				26,003,754

Transportation — 1.5%
	111,600	JetBlue Airways Corp.^*		622,728
	195,500	Kansas City Southern^*		7,071,235
	187,000	Ryder System, Inc.		7,248,120

				14,942,083

Utilities — 9.5%
	161,500	Alliant Energy Corp.		5,371,490
	790,495	CMS Energy Corp.		12,221,053
	307,499	DPL, Inc.		8,360,898
	356,433	Edison International		12,179,315
	149,962	FirstEnergy Corp.		5,862,014
	124,300	Great Plains Energy, Inc.		2,308,251
	230,595	Northeast Utilities		6,373,646
	431,703	NV Energy, Inc.		5,322,898
	85,400	Pinnacle West Capital Corp.		3,222,142
	378,101	PPL Corp.		10,477,179
	358,100	Questar Corp.		15,469,920
	135,300	SCANA Corp.		5,085,927
	135,400	Xcel Energy, Inc.		2,870,480

				95,125,213

TOTAL COMMON STOCKS			$	1,001,916,392


			Expiration
Units		Description	Month		Value
Right^* — 0.0%
Telecommunication Services — 0.0%
	146,600	Clearwire Corp.^(a)	06/10	$	27,121


Shares		Rate	Value
Short-term Investment^(b) — 1.0%
JPMorgan U.S. Government Money Market Fund — Capital Shares
	9,755,903	0.031%	$	9,755,903

TOTAL INVESTMENTS BEFORE SECURITIES LENDING REINVESTMENT VEHICLE			$	1,011,699,416


Securities Lending Reinvestment Vehicle^(b)(c) — 0.8%
Boston Global Investment Trust — Enhanced Portfolio
	8,774,787	0.078%	$	8,766,012

TOTAL INVESTMENTS — 101.8%			$	1,020,465,428

LIABILITIES IN EXCESS OF OTHER ASSETS — (1.8)%				(18,427,504	)

NET ASSETS — 100.0%			$	1,002,037,924

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

* Non-income producing security.

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

(b) Variable rate security. Interest rate disclosed is that which is in effect at March 31, 2010.

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

GOLDMAN SACHS VARIABLE INSURANCE TRUST MONEY MARKET FUND

Schedule of Investments

March 31, 2010 (Unaudited)


Principal		Interest			Maturity	Amortized
Amount		Rate			Date	Cost
Commercial Paper and Corporate Obligations — 29.9%
Amstel Funding Corp.
$	1,000,000		0.600	%	04/01/10	$	1,000,000
Amsterdam Funding Corp.
	3,350,000		0.200		05/18/10		3,349,125
Atlantis One Funding Corp.
	3,000,000		0.220		06/09/10		2,998,735
Ciesco LLC
	3,000,000		0.200		04/21/10		2,999,667
General Electric Capital Corp.
	3,000,000		0.190		04/28/10		2,999,573
ING Funding LLC
	3,000,000		0.280		06/24/10		2,998,040
Lloyds TSB Group PLC
	1,000,000		0.250		05/05/10		999,764
LMA Americas LLC
	3,200,000		0.260		05/21/10		3,198,844
NRW. Bank
	1,000,000		0.230		04/06/10		999,968
	1,000,000		0.220		04/07/10		999,963
Old Line Funding Corp.
	1,362,000		0.220		06/08/10		1,361,434
Standard Chartered Bank
	1,000,000		0.250		04/26/10		999,826
Straight-A Funding LLC
	5,000,000		0.200		06/02/10		4,998,278
Tasman Funding, Inc.
	1,000,000		0.250		05/24/10		999,632
Variable Funding Capital Corp.
	3,000,000		0.210		06/15/10		2,998,688
Windmill Funding Corp.
	3,025,000		0.200		05/17/10		3,024,227
Yorktown Capital LLC
	3,000,000		0.280		07/19/10		2,997,457

TOTAL COMMERCIAL PAPER AND CORPORATE OBLIGATIONS						$	39,923,221


Eurodollar Certificates of Deposit — 5.2%
Credit Industriel et Commercial SA
$	3,000,000		0.335	%	04/26/10	$	3,000,073
National Australia Bank Ltd.
	3,000,000		0.210		04/30/10		3,000,024
Societe Generale
	1,000,000		0.250		04/12/10		1,000,003

TOTAL EURODOLLAR CERTIFICATES OF DEPOSIT						$	7,000,100


Government Guarantee Variable Rate Obligations^(a)(b) — 0.8%
Bank of America N.A.
$	1,000,000		0.299	%	04/29/10	$	1,000,000


Principal		Interest			Maturity	Amortized
Amount		Rate			Date	Cost
U.S. Government Agency Obligations — 21.4%
Federal Home Loan Bank
$	2,000,000		0.950	%	04/05/10	$	1,999,984
	1,000,000		0.000	^(b)	04/09/10		999,998
	500,000		0.130	^(b)	04/11/10		499,607
	1,000,000		0.000	^(b)	04/13/10		999,998
	900,000		0.196	^(b)	04/25/10		899,690
	1,000,000		0.130	^(b)	05/13/10		999,433
	2,000,000		0.112	^(b)	06/01/10		1,999,759
	700,000		0.600		06/21/10		699,853
	4,000,000		0.560		08/27/10		3,999,221
	300,000		0.500		10/22/10		300,000
	1,000,000		0.500		03/14/11		1,000,000
Federal Home Loan Mortgage Corp.
	5,740,000		0.303	^(b)	04/07/10		5,741,011
	1,400,000		0.150	^(b)	04/11/10		1,398,756
	1,000,000		0.151	^(b)	04/12/10		1,000,000
	300,000		0.179	^(b)	05/05/10		299,919
	3,000,000		0.180		05/18/10		2,999,295
	200,000		0.232	^(b)	06/03/10		199,973
Federal National Mortgage Association
	1,000,000		0.141	^(b)	04/13/10		999,915
	1,500,000		0.540		07/12/10		1,497,705

TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS						$	28,534,117


Variable Rate Municipal Debt Obligations — 3.8%
New York City GO VRDN Taxable Fiscal Series 2008 Subseries J-13 (Lloyds TSB Bank PLC SPA)
$	1,500,000		0.320	%	08/01/19	$	1,500,000
Minneapolis Health Care System VRDN RB for Fairview Health Services Series 2008 E (Wells Fargo Bank N.A. LOC)
	3,595,000		0.250		04/07/10		3,595,000

TOTAL VARIABLE RATE MUNICIPAL DEBT OBLIGATIONS						$	5,095,000


Variable Rate Obligations^(b) — 7.5%
Australia & New Zealand Banking Group Ltd.
$	1,000,000		0.276	%	04/26/10	$	1,000,000
Banco Bilbao Vizcaya Argentaria SA
	1,000,000		0.285		04/21/10		1,000,011
JPMorgan Chase & Co.
	3,000,000		0.240		04/21/10		3,000,000
Rabobank Nederland
	2,000,000		0.253		04/07/10		2,000,000
	1,000,000		0.250		05/17/10		1,000,000
Westpac Securities New Zealand Ltd.
	2,000,000		0.320		04/21/10		2,000,000

TOTAL VARIABLE RATE OBLIGATIONS						$	10,000,011


Yankee Certificates of Deposit — 6.7%
Barclays Bank PLC
$	3,000,000		0.300	%	06/21/10	$	3,000,000
Calyon
	3,000,000		0.235		05/04/10		3,000,000
Mitsubishi UFJ Trust & Banking Corp.
	3,000,000		0.260		06/14/10		3,000,000

TOTAL YANKEE CERTIFICATES OF DEPOSIT						$	9,000,000

GOLDMAN SACHS VARIABLE INSURANCE TRUST MONEY MARKET FUND

Schedule of Investments (continued)

March 31, 2010 (Unaudited)


Principal		Interest			Maturity	Amortized
Amount		Rate			Date	Cost
U.S. Treasury Obligations — 0.8%
United States Treasury Bills
$	700,000		0.410	%	06/17/10	$	699,386
	300,000		0.442		06/17/10		299,716

TOTAL U.S. TREASURY OBLIGATIONS						$	999,102

TOTAL INVESTMENTS BEFORE REPURCHASE AGREEMENTS						$	101,551,551


Repurchase Agreements^(c) — 24.4%
BNP Paribas Securities Co.
$	2,000,000		0.240	%	04/01/10	$	2,000,000
Maturity Value: $2,000,013
Collateralized by International Paper Co., 8.700%, due 06/15/38 and Southwestern Electric Power Co., 6.200%, due 03/15/40. The aggregate market value of the collateral, including accrued interest, was $2,100,000.
Joint Repurchase Agreement Account II
	30,600,000		0.019		04/01/10		30,600,000
Maturity Value: $30,600,016

TOTAL REPURCHASE AGREEMENTS						$	32,600,000

TOTAL INVESTMENTS — 100.5%						$	134,151,551

LIABILITIES IN EXCESS OF OTHER ASSETS — (0.5)%							(732,777	)

NET ASSETS — 100.0%						$	133,418,774

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

(a) 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 these securities amounts to $1,000,000, which represents approximately 0.8% of net assets as of March 31, 2010.

(b) Variable or floating rate security. Interest rate disclosed is that which is in effect at March 31, 2010.

(c) Unless noted, all repurchase agreements were entered into on March 31, 2010. Additional information on Joint Repurchase Agreement Account II 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.





Investment Abbreviations:
GO		— General Obligation
LOC		— Letter of Credit
RB		— Revenue Bond
SPA		— Stand-by Purchase Agreement
VRDN		— Variable Rate Demand Notes

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRATEGIC INTERNATIONAL EQUITY FUND

Schedule of Investments

March 31, 2010 (Unaudited)


Shares		Description	Value
Common Stocks — 90.0%
Belgium — 0.5%
	37,927	Telenet Group Holding NV (Telecommunication Services)^*	$	1,145,036

Bermuda — 0.4%
	185,785	Hiscox Ltd. (Insurance)		943,979

Denmark — 1.6%
	26,104	Carlsberg A/S Class B (Food, Beverage & Tobacco)^(a)		2,188,437
	20,701	Novo Nordisk A/S Class B (Pharmaceuticals, Biotechnology & Life Sciences)^(a)		1,598,021

				3,786,458

Finland — 2.8%
	240,554	Nokia Oyj (Technology Hardware & Equipment)		3,748,822
	23,412	Outotec Oyj (Capital Goods)^(a)		842,090
	83,042	Sampo Oyj Class A (Insurance)^(a)		2,201,482

				6,792,394

France — 6.2%
	19,891	Air Liquide SA (Materials)^*		2,389,379
	19,074	Alstom SA (Capital Goods)		1,187,617
	89,241	AXA SA (Insurance)		1,979,798
	31,870	Compagnie Generale de Geophysique-Veritas (Energy)^*		902,361
	15,786	Ipsen SA (Pharmaceuticals, Biotechnology & Life Sciences)		770,843
	142,304	Safran SA (Capital Goods)		3,707,535
	37,286	Societe Generale (Banks)		2,340,056
	25,691	Sodexo (Consumer Services)		1,532,140

				14,809,729

Germany — 5.3%
	56,250	Bayer AG (Pharmaceuticals, Biotechnology & Life Sciences)		3,800,800
	61,830	Daimler AG (Registered) (Automobiles & Components)		2,906,056
	20,285	Hamburger Hafen und Logistik AG (Transportation)		769,296
	62,301	Henkel AG & Co. KGaA Preference Shares (Household & Personal Products)		3,355,478
	19,102	Siemens AG (Registered) (Capital Goods)		1,908,614

				12,740,244

Greece — 1.3%
	91,210	Alpha Bank AE (Banks)^*		865,791
	116,610	Hellenic Exchanges SA (Diversified Financials)		1,022,411
	111,632	Jumbo SA (Retailing)		1,130,202

				3,018,404

Hong Kong — 3.1%
	901,000	BOC Hong Kong (Holdings) Ltd. (Banks)		2,143,821
	265,500	Kerry Properties Ltd. (Real Estate)		1,422,005
	200,000	Sun Hung Kai Properties Ltd. (Real Estate)		3,001,199


Shares		Description	Value
Common Stocks — (continued)
Hong Kong — (continued)
	84,000	Swire Pacific Ltd. Class A (Diversified)	$	1,009,655

				7,576,680

Ireland — 1.2%
	93,939	Kerry Group PLC Class A (Food, Beverage & Tobacco)		2,919,960

Italy — 6.1%
	136,482	Banca Popolare Di Milano Scarl (Banks)		847,367
	53,952	Bulgari SpA (Consumer Durables & Apparel)^(a)		439,641
	191,318	Eni SpA (Energy)		4,487,590
	168,291	Mediobanca SpA (Diversified Financials)^*		1,808,363
	332,599	Snam Rete Gas SpA (Utilities)		1,685,367
	1,475,723	UniCredit SpA (Banks)^*		4,351,241
	84,726	Unione di Banche Italiane ScpA (Banks)		1,142,850

				14,762,419

Japan — 22.1%
	226,000	Daiwa Securities Group, Inc. (Diversified Financials)		1,191,172
	51,700	Denso Corp. (Automobiles & Components)		1,542,952
	27,000	East Japan Railway Co. (Transportation)		1,878,583
	72,300	FUJIFILM Holdings Corp. (Technology Hardware & Equipment)		2,490,419
	35,200	Hitachi High-Technologies Corp. (Technology Hardware & Equipment)		808,342
	52,800	Honda Motor Co. Ltd. (Automobiles & Components)		1,861,131
	263,000	J. Front Retailing Co. Ltd. (Retailing)		1,550,121
	36,900	JFE Holdings, Inc. (Materials)		1,488,793
	111,000	Kirin Holdings Co. Ltd. (Food, Beverage & Tobacco)		1,638,858
	211,000	Kubota Corp. (Capital Goods)		1,926,483
	70,000	Kuraray Co. Ltd. (Materials)		943,267
	17,400	Kyocera Corp. (Technology Hardware & Equipment)		1,698,438
	186,000	Kyowa Hakko Kirin Co. Ltd. (Pharmaceuticals, Biotechnology & Life Sciences)		1,921,007
	22,100	Mabuchi Motor Co. Ltd. (Technology Hardware & Equipment)		1,274,500
	792,000	Mazda Motor Corp. (Automobiles & Components)		2,233,869
	78,300	Mitsubishi Corp. (Capital Goods)		2,056,135
	217,000	Mitsubishi Electric Corp. (Capital Goods)		1,997,985
	70,000	Mitsubishi Estate Co. Ltd. (Real Estate)		1,147,223
	403,000	Mitsubishi Materials Corp. (Materials)^*		1,160,837
	358,100	Mitsubishi UFJ Financial Group, Inc. (Banks)		1,877,036
	94,400	Mitsui & Co. Ltd. (Capital Goods)		1,589,445
	53,000	Mitsui Sumitomo Insurance Group Holdings, Inc. (Insurance)		1,473,971
	3,900	Nintendo Co. Ltd. (Software & Services)		1,307,918
	185,000	Nippon Oil Corp. (Energy)		942,187

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRATEGIC INTERNATIONAL EQUITY FUND

Schedule of Investments (continued)

March 31, 2010 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Japan — (continued)
	1,518	NTT DoCoMo, Inc. (Telecommunication Services)	$	2,310,353
	7,080	ORIX Corp. (Diversified Financials)		628,634
	107,800	Panasonic Corp. (Consumer Durables & Apparel)		1,652,686
	25,900	Santen Pharmaceutical Co. Ltd. (Pharmaceuticals, Biotechnology & Life Sciences)		779,014
	88,000	Sumitomo Metal Mining Co. Ltd. (Materials)		1,309,264
	53,000	Sumitomo Mitsui Financial Group, Inc. (Banks)		1,755,878
	251,000	The Bank of Yokohama Ltd. (Banks)		1,231,652
	44,100	The Kansai Electric Power Co., Inc. (Utilities)		1,010,918
	197,000	Tokuyama Corp. (Materials)		1,092,210
	246,000	Toshiba Corp. (Technology Hardware & Equipment)^*		1,273,253
	39,600	Toyota Motor Corp. (Automobiles & Components)		1,592,291
	62,600	Yokogawa Electric Corp. (Technology Hardware & Equipment)		546,787

				53,183,612

Luxembourg — 1.1%
	793,260	Regus PLC (Commercial & Professional Services)		1,343,514
	52,855	SES SA FDR (Media)		1,334,037

				2,677,551

Netherlands — 0.9%
	133,452	Koninklijke KPN NV (Telecommunication Services)		2,117,743

Singapore — 0.7%
	99,000	DBS Group Holdings Ltd. (Banks)		1,009,380
	156,000	Wilmar International Ltd. (Food, Beverage & Tobacco)		745,585

				1,754,965

Spain — 1.4%
	190,124	Banco Santander SA (Banks)		2,521,807
	16,687	Red Electrica Corp. SA (Utilities)		895,405

				3,417,212

Sweden — 1.3%
	95,224	Scania AB Class B (Capital Goods)		1,507,308
	166,057	Swedbank AB Class A (Banks)^*		1,700,631

				3,207,939

Switzerland — 10.4%
	10,958	Aryzta AG (Food, Beverage & Tobacco)		479,994
	54,840	Compagnie Financiere Richemont SA Class A (Consumer Durables & Apparel)		2,126,435
	15,885	Kuehne + Nagel International AG (Registered) (Transportation)		1,605,007
	843	Lindt & Spruengli AG (Food, Beverage & Tobacco)		1,994,279
	98,940	Novartis AG (Registered) (Pharmaceuticals, Biotechnology & Life Sciences)		5,352,055


Shares		Description	Value
Common Stocks — (continued)
Switzerland — (continued)
	37,633	Roche Holding AG (Pharmaceuticals, Biotechnology & Life Sciences)	$	6,111,996
	7,642	Syngenta AG (Registered) (Materials)		2,122,022
	200,107	UBS AG (Registered) (Diversified Financials)^*		3,255,322
	102,417	Xstrata PLC (Materials)^*		1,938,378

				24,985,488

United Kingdom — 23.6%
	35,009	Admiral Group PLC (Insurance)		701,871
	166,957	Amlin PLC (Insurance)		983,123
	68,935	Anglo American PLC (Materials)^*		3,000,681
	155,015	ASOS PLC (Retailing)^*		1,217,505
	464,300	Barclays PLC (Banks)		2,528,201
	193,549	BG Group PLC (Energy)		3,351,849
	727,800	BP PLC (Energy)		6,888,742
	131,869	Cookson Group PLC (Capital Goods)^*		1,093,265
	120,235	GlaxoSmithKline PLC (Pharmaceuticals, Biotechnology & Life Sciences)		2,307,884
	579,563	HSBC Holdings PLC (Banks)		5,873,242
	2,675,130	Inchcape PLC (Retailing)^*		1,196,614
	190,062	John Wood Group PLC (Energy)		1,048,043
	109,867	Prudential PLC (Insurance)		908,892
	440,579	Reed Elsevier PLC (Media)		3,509,217
	62,249	Rio Tinto PLC (Materials)^(b)		3,680,085
	57,273	Schroders PLC (Diversified Financials)		1,223,467
	596,254	SIG PLC (Capital Goods)^*		1,028,435
	124,201	Smiths Group PLC (Capital Goods)		2,142,583
	48,083	SOCO International PLC (Energy)^*		1,207,268
	159,416	SSL International PLC (Health Care Equipment & Services)		1,967,747
	416,581	Tesco PLC (Food & Staples Retailing)		2,754,254
	98,803	Tullow Oil PLC (Energy)		1,874,925
	2,665,166	Vodafone Group PLC (Telecommunication Services)		6,164,313
	28,171	Wellstream Holdings PLC (Energy)		279,499

				56,931,705

TOTAL COMMON STOCKS			$	216,771,518


Exchange Traded Fund^(a) — 5.6%
Australia — 5.6%
	564,267	iShares MSCI Australia Index Fund	$	13,525,480


Shares		Rate	Value
Short-term Investment^(c) — 4.8%
JPMorgan U.S. Government Money Market Fund — Capital Shares
	11,563,827	0.031%	$	11,563,827

TOTAL INVESTMENTS BEFORE SECURITIES LENDING REINVESTMENT VEHICLE			$	241,860,825

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRATEGIC INTERNATIONAL EQUITY FUND

Schedule of Investments (continued)

March 31, 2010 (Unaudited)


Shares		Rate	Value
Securities Lending Reinvestment Vehicle^(c)(d) — 8.0%
Boston Global Investment Trust — Enhanced Portfolio
	19,182,453	0.078%	$	19,163,271

TOTAL INVESTMENTS — 108.4%			$	261,024,096

LIABILITIES IN EXCESS OF OTHER ASSETS — (8.4)%				(20,257,965	)

NET ASSETS — 100.0%			$	240,766,131

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) A portion of this security is segregated as collateral for initial margin requirements on futures transactions.

(d) Represents an affiliated issuer.



Investment Abbreviation:
FDR		— Fiduciary Depositary Receipt

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

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRATEGIC INTERNATIONAL EQUITY FUND

Schedule of Investments (continued)

March 31, 2010 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FUTURES CONTRACTS — At March 31, 2010, the following futures contracts were open:

Number of

Contracts

Expiration

Current

Unrealized

Type

Long

Date

Value

Gain (Loss)

SPI 200 Index

June 2010

$7,163,543

$4,793

TAX INFORMATION — At March 31, 2010, the Fund’s aggregate security unrealized gains and losses based on cost for U.S. federal income tax purposes were as follows:



Tax Cost	$	240,010,916

Gross unrealized gain		24,001,125
Gross unrealized loss		(2,987,945	)

Net unrealized security gain	$	21,013,180

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRUCTURED SMALL CAP EQUITY FUND

Schedule of Investments

March 31, 2010 (Unaudited)


Shares		Description	Value
Common Stocks — 97.9%
Automobiles & Components — 1.0%
	17,464	Dana Holding Corp.^*	$	207,472
	6,845	Drew Industries, Inc.^*		150,727
	2,438	Federal Mogul Corp.^*		44,762
	16,678	Modine Manufacturing Co.^*		187,461
	17,356	Spartan Motors, Inc.		97,193
	13,479	Standard Motor Products, Inc.		133,712
	20,652	Stoneridge, Inc.^*		204,248
	15,220	Superior Industries International, Inc.		244,738

				1,270,313

Banks — 5.4%
	3,894	1st Source Corp.		68,340
	14,450	Associated Banc-Corp		199,410
	19,073	Astoria Financial Corp.^(a)		276,558
	8,610	Banco Latinoamericano de Comercio Exterior SA Class E		123,640
	1,676	City National Corp.		90,454
	4,551	Commerce Bancshares, Inc.		187,228
	61,875	CVB Financial Corp.^(a)		614,419
	24,110	First Bancorp^(a)		325,967
	6,132	First Bancorp, Inc.		97,744
	5,555	FNB Corp.		45,051
	10,428	Glacier Bancorp, Inc.^(a)		158,818
	14,075	Great Southern Bancorp, Inc.^(a)		315,843
	60,062	International Bancshares Corp.		1,380,825
	7,908	Investors Bancorp, Inc.^*		104,386
	9,074	Nara Bancorp, Inc.^*		79,488
	37,251	NewAlliance Bancshares, Inc.		470,108
	3,893	Northfield Bancorp, Inc.		56,371
	70,828	Popular, Inc.^*		206,109
	11,699	Renasant Corp.^(a)		189,290
	10,970	Susquehanna Bancshares, Inc.		107,616
	7,998	SVB Financial Group^*^(a)		373,187
	19,977	Texas Capital Bancshares, Inc.^*		379,363
	1,113	UMB Financial Corp.		45,188
	6,586	Washington Federal, Inc.		133,827
	9,319	Webster Financial Corp.		162,989
	55,762	Wilshire Bancorp, Inc.^(a)		615,055
	5,784	Wintrust Financial Corp.^(a)		215,223

				7,022,497

Capital Goods — 7.6%
	1,837	AAR Corp.^*		45,594
	10,007	Acuity Brands, Inc.^(a)		422,395
	14,139	Albany International Corp. Class A		304,413
	10,074	American Railcar Industries, Inc.		122,500
	6,857	American Woodmark Corp.		132,957
	16,438	Apogee Enterprises, Inc.		259,885
	5,631	Armstrong World Industries, Inc.^*		204,462
	2,457	Astec Industries, Inc.^*^(a)		71,155
	22,295	Belden, Inc.		612,221
	14,383	BlueLinx Holdings, Inc.^*		54,799
	28,797	Briggs & Stratton Corp.		561,542
	9,482	Ceradyne, Inc.^*		215,147
	4,177	Cubic Corp.		150,372
	4,623	Ducommun, Inc.		97,129
	9,920	Dycom Industries, Inc.^*		86,998
	3,631	DynCorp International, Inc. Class A^*		41,720


Shares		Description	Value
Common Stocks — (continued)
Capital Goods — (continued)
	8,338	Encore Wire Corp.^(a)	$	173,430
	7,773	EnPro Industries, Inc.^*^(a)		226,039
	3,782	Esterline Technologies Corp.^*		186,944
	10,505	Federal Signal Corp.		94,650
	6,207	Greenbrier Cos., Inc.^*		68,339
	4,972	Hubbell, Inc. Class B		250,738
	3,119	II-VI, Inc.^*		105,547
	4,379	Insteel Industries, Inc.		46,812
	14,762	Kadant, Inc.^*		212,720
	43,981	LSI Industries, Inc.		299,950
	53,852	Microvision, Inc.^*^(a)		151,863
	16,460	Miller Industries, Inc.		204,598
	25,011	Mueller Industries, Inc.		670,045
	8,893	NACCO Industries, Inc. Class A		659,416
	11,278	Oshkosh Corp.^*		454,955
	77,318	Power-One, Inc.^*^(a)		326,282
	3,866	Simpson Manufacturing Co., Inc.		107,320
	13,308	Tecumseh Products Co. Class A^*		163,289
	4,987	Tennant Co.		136,594
	7,076	Thomas & Betts Corp.^*		277,662
	15,036	Toro Co.^(a)		739,320
	15,356	Tredegar Corp.		262,280
	15,178	Universal Forest Products, Inc.		584,657
	5,741	Woodward Governor Co.^(a)		183,597

				9,970,336

Commercial & Professional Services — 3.4%
	15,881	ACCO Brands Corp.^*		121,649
	4,998	Administaff, Inc.		106,657
	17,398	CDI Corp.		255,055
	24,559	HNI Corp.		654,006
	48,423	Kelly Services, Inc. Class A^*		806,727
	33,671	Kforce, Inc.^*^(a)		512,136
	25,263	Kimball International, Inc. Class B		175,578
	52,544	SFN Group, Inc.^*		420,877
	35,445	Steelcase, Inc. Class A		229,329
	14,244	The Standard Register Co.		76,205
	6,412	TrueBlue, Inc.^*		99,386
	17,068	United Stationers, Inc.^*^(a)		1,004,452

				4,462,057

Consumer Durables & Apparel — 4.8%
	4,420	American Greetings Corp. Class A^(a)		92,113
	10,471	Blyth, Inc.		327,219
	8,875	Callaway Golf Co.^(a)		78,277
	10,031	Columbia Sportswear Co.^(a)		526,928
	2,729	CSS Industries, Inc.		54,853
	6,756	D.R. Horton, Inc.		85,126
	13,369	Ethan Allen Interiors, Inc.^(a)		275,802
	20,441	Furniture Brands International, Inc.^*		131,436
	4,446	G-III Apparel Group Ltd.^*		122,532
	2,768	Harman International Industries, Inc.^*		129,487
	7,432	Hooker Furniture Corp.		119,506
	12,948	Hovnanian Enterprises, Inc. Class A^*^(a)		56,324
	18,768	iRobot Corp.^*^(a)		284,523
	42,133	Jones Apparel Group, Inc.		801,370
	29,873	Kenneth Cole Productions, Inc. Class A^*		382,673
	3,284	Leggett & Platt, Inc.		71,066

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRUCTURED SMALL CAP EQUITY FUND

Schedule of Investments (continued)

March 31, 2010 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Consumer Durables & Apparel — (continued)
	11,799	M/I Homes, Inc.^*	$	172,855
	2,747	Mohawk Industries, Inc.^*		149,382
	33,954	Nautilus, Inc.^*		102,541
	11,681	Oxford Industries, Inc.		237,475
	19,424	Perry Ellis International, Inc.^*		439,953
	10,789	Polaris Industries, Inc.^(a)		551,965
	24,001	Quiksilver, Inc.^*		113,525
	3,007	RC2 Corp.^*		45,015
	23,390	Skechers U.S.A., Inc. Class A^*		849,525
	4,010	Tempur-Pedic International, Inc.^*		120,941

				6,322,412

Consumer Services — 2.6%
	36,280	Boyd Gaming Corp.^*^(a)		358,446
	1,410	Capella Education Co.^*		130,904
	12,736	Caribou Coffee Co., Inc.^*		84,312
	3,704	Choice Hotels International, Inc.		128,936
	13,432	Domino’s Pizza, Inc.^*		183,213
	6,827	International Speedway Corp. Class A		175,932
	48,755	O’Charleys, Inc.^*^(a)		435,870
	578	Panera Bread Co. Class A^*		44,211
	22,693	Papa John’s International, Inc.^*		583,437
	1,252	PF Chang’s China Bistro, Inc.^*		55,251
	5,877	Pre-Paid Legal Services, Inc.^*^(a)		222,444
	7,724	Red Lion Hotels Corp.^*		55,767
	3,209	Speedway Motorsports, Inc.		50,093
	2,350	Steiner Leisure Ltd.^*		104,152
	8,728	Texas Roadhouse, Inc.^*		121,232
	1,366	The Steak n Shake Co.^*		520,815
	6,032	Universal Technical Institute, Inc.^*		137,650
	4,491	Universal Travel Group^*		44,506

				3,437,171

Diversified Financials — 4.8%
	60,252	Advance America, Cash Advance Centers, Inc.		350,667
	60,910	Allied Capital Corp.^*		302,723
	31,085	American Capital Ltd.^*		157,912
	25,425	Apollo Investment Corp.		323,660
	7,686	Ares Capital Corp.		114,060
	27,432	BlackRock Kelso Capital Corp.		273,223
	5,237	Cash America International, Inc.		206,757
	43,359	Compass Diversified Holdings		661,658
	677	Diamond Hill Investment Group, Inc.		46,442
	6,119	Eaton Vance Corp.		205,231
	9,655	Federated Investors, Inc. Class B^(a)		254,699
	7,909	GAMCO Investors, Inc. Class A		359,860
	17,521	Gladstone Capital Corp.		206,748
	25,870	Hercules Technology Growth Capital, Inc.		273,963
	13,147	Kohlberg Capital Corp.^(a)		74,412
	2,028	Life Partners Holdings, Inc.^(a)		44,961
	7,648	NewStar Financial, Inc.^*		48,794
	37,002	NGP Capital Resources Co.		315,257
	31,059	PHH Corp.^*		732,061
	60,795	Primus Guaranty Ltd.^*		255,339
	10,297	QC Holdings, Inc.		53,235
	13,898	Rewards Network, Inc.		186,233


Shares		Description	Value
Common Stocks — (continued)
Diversified Financials — (continued)
	4,200	SEI Investments Co.	$	92,274
	38,290	TICC Capital Corp.		252,331
	12,189	World Acceptance Corp.^*^(a)		439,779

				6,232,279

Energy — 4.3%
	9,236	Berry Petroleum Co. Class A^(a)		260,086
	17,533	Cal Dive International, Inc.^*		128,517
	13,409	Cimarex Energy Co.		796,226
	24,540	Complete Production Services, Inc.^*		283,437
	8,226	Dawson Geophysical Co.^*		240,528
	6,556	Dril-Quip, Inc.^*		398,867
	5,588	Exterran Holdings, Inc.^*		135,062
	17,034	Global Industries Ltd.^*		109,358
	4,734	Green Plains Renewable Energy, Inc.^*		67,554
	14,578	Hercules Offshore, Inc.^*		62,831
	61,963	International Coal Group, Inc.^*^(a)		283,171
	4,695	Mariner Energy, Inc.^*		70,284
	4,803	McMoRan Exploration Co.^*		70,268
	2,682	Oil States International, Inc.^*		121,602
	2,579	Overseas Shipholding Group, Inc.		101,174
	26,635	Petroquest Energy, Inc.^*^(a)		133,974
	20,603	RPC, Inc.^(a)		229,311
	7,137	Stone Energy Corp.^*		126,682
	4,189	Swift Energy Co.^*^(a)		128,770
	5,553	Teekay Corp.		126,275
	24,391	Tesoro Corp.		339,035
	115,793	USEC, Inc.^*		668,126
	28,334	W&T Offshore, Inc.^(a)		238,006
	14,500	Willbros Group, Inc.^*		174,145
	10,647	World Fuel Services Corp.^(a)		283,636

				5,576,925

Food & Staples Retailing — 0.4%
	4,945	Ingles Markets, Inc. Class A		74,324
	35,633	Winn-Dixie Stores, Inc.^*		445,056

				519,380

Food, Beverage & Tobacco — 1.9%
	81,312	Alliance One International, Inc.^*^(a)		413,878
	10,634	Chiquita Brands International, Inc.^*^(a)		167,273
	6,346	Dole Food Co., Inc.^*^(a)		75,200
	2,372	Hansen Natural Corp.^*		102,897
	5,758	Imperial Sugar Co.		89,307
	8,858	J&J Snack Foods Corp.		385,057
	13,697	Lancaster Colony Corp.		807,575
	32,278	National Beverage Corp.		358,931
	2,534	Smithfield Foods, Inc.^*		52,555
	1,734	Universal Corp.^(a)		91,365

				2,544,038

Health Care Equipment & Services — 7.1%
	3,770	Align Technology, Inc.^*		72,912
	36,608	AMN Healthcare Services, Inc.^*		322,150
	3,409	Analogic Corp.		145,667
	8,234	Angiodynamics, Inc.^*		128,615
	10,616	Assisted Living Concepts, Inc. Class A^*		348,629
	3,918	Conmed Corp.^*		93,288
	14,247	Cross Country Healthcare, Inc.^*		144,037

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRUCTURED SMALL CAP EQUITY FUND

Schedule of Investments (continued)

March 31, 2010 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Health Care Equipment & Services — (continued)
	9,953	Delcath Systems, Inc.^*^(a)	$	80,619
	40,722	HealthSpring, Inc.^*		716,707
	18,235	Hill-Rom Holdings, Inc.		496,174
	1,293	ICU Medical, Inc.^*		44,544
	18,579	Invacare Corp.^(a)		493,087
	6,386	Kensey Nash Corp.^*		150,646
	35,753	Kindred Healthcare, Inc.^*		645,342
	2,346	Magellan Health Services, Inc.^*		102,004
	15,404	Medcath Corp.^*		161,280
	23,880	Medical Action Industries, Inc.^*		293,008
	13,727	MedQuist, Inc.		107,208
	3,315	Meridian Bioscience, Inc.		67,526
	9,027	Micrus Endovascular Corp.^*		178,012
	33,898	Molina Healthcare, Inc.^*^(a)		853,213
	57,236	Nighthawk Radiology Holdings, Inc.^*		182,010
	16,119	Palomar Medical Technologies, Inc.^*		175,052
	47,718	PharMerica Corp.^*^(a)		869,422
	22,965	RTI Biologics, Inc.^*		99,438
	13,984	Somanetics Corp.^*		267,654
	16,759	STERIS Corp.		564,108
	54,338	Sunrise Senior Living, Inc.^*		278,211
	13,068	Symmetry Medical, Inc.^*		131,203
	5,474	Synovis Life Technologies, Inc.^*		85,011
	46,074	Theragenics Corp.^*		76,483
	30,995	Universal American Corp.^*		477,323
	13,686	WellCare Health Plans, Inc.^*^(a)		407,843

				9,258,426

Household & Personal Products — 0.9%
	47,269	Central Garden and Pet Co. Class A^*		432,984
	46,558	Mannatech, Inc.^(a)		155,504
	44,978	Prestige Brands Holdings, Inc.^*		404,802
	4,199	USANA Health Sciences, Inc.^*^(a)		131,890

				1,125,180

Insurance — 2.5%
	17,877	American Equity Investment Life Holding Co.		190,390
	18,751	Aspen Insurance Holdings Ltd.		540,779
	9,144	Assured Guaranty Ltd.		200,894
	22,326	CNA Surety Corp.^*		397,180
	74,460	Conseco, Inc.^*		463,141
	23,822	Endurance Specialty Holdings Ltd.		884,987
	3,084	First Mercury Financial Corp.		40,184
	3,766	Flagstone Reinsurance Holdings Ltd.		43,158
	1,436	Kansas City Life Insurance Co.		45,349
	5,720	Maiden Holdings Ltd.		42,271
	21,686	MBIA, Inc.^*		135,971
	9,346	Montpelier Re Holdings Ltd.		157,106
	4,137	Protective Life Corp.		90,973
	1,852	Tower Group, Inc.		41,059

				3,273,442

Materials — 5.2%
	22,550	A. Schulman, Inc.		551,798
	16,714	Brush Engineered Materials, Inc.^*^(a)		377,235
	9,096	Buckeye Technologies, Inc.^*		118,976
	8,164	Clearwater Paper Corp.^*		402,077


Shares		Description	Value
Common Stocks — (continued)
Materials — (continued)
	34,557	Coeur d’Alene Mines Corp.^*	$	517,664
	11,363	Domtar Corp.^*		731,891
	15,961	Huntsman Corp.		192,330
	3,537	Innophos Holdings, Inc.		98,682
	8,740	Kaiser Aluminum Corp.		337,102
	33,111	KapStone Paper and Packaging Corp.^*		393,028
	60,857	Louisiana-Pacific Corp.^*^(a)		550,756
	808	Minerals Technologies, Inc.		41,887
	14,155	Myers Industries, Inc.		148,344
	13,541	OM Group, Inc.^*		458,769
	40,418	PolyOne Corp.^*		413,880
	12,657	Spartech Corp.^*		148,087
	7,352	Stepan Co.		410,903
	12,394	Stillwater Mining Co.^*^(a)		160,874
	14,351	Sutor Technology Group Ltd.^*		41,618
	8,319	Wausau Paper Corp.^*		71,044
	25,140	Worthington Industries, Inc.^(a)		434,671
	6,318	Zep, Inc.		138,238

				6,739,854

Media — 1.3%
	9,497	Ascent Media Corp. Class A^*		258,793
	46,260	EW Scripps Co. Class A^*		390,897
	15,458	Harte-Hanks, Inc.^(a)		198,790
	41,484	Journal Communications, Inc. Class A^*		174,233
	32,921	Live Nation Entertainment, Inc.^*		477,354
	8,730	Scholastic Corp.		244,440

				1,744,507

Pharmaceuticals, Biotechnology & Life Sciences — 6.8%
	17,067	Affymetrix, Inc.^*		125,272
	25,361	Albany Molecular Research, Inc.^*		211,764
	43,744	Alkermes, Inc.^*		567,360
	11,851	Biodel, Inc.^*		50,604
	13,419	Cepheid, Inc.^*^(a)		234,564
	17,723	Cubist Pharmaceuticals, Inc.^*^(a)		399,476
	60,847	Depomed, Inc.^*^(a)		216,007
	19,900	Emergent Biosolutions, Inc.^*^(a)		334,121
	2,449	Endo Pharmaceuticals Holdings, Inc.^*		58,017
	42,153	eResearchTechnology, Inc.^*		291,277
	14,821	Exelixis, Inc.^*^(a)		89,963
	11,457	Facet Biotech Corp.^*		309,224
	10,774	Genomic Health, Inc.^*^(a)		189,515
	100,993	Insmed, Inc.^*		119,172
	2,089	InterMune, Inc.^*		93,107
	9,900	Isis Pharmaceuticals, Inc.^*^(a)		108,108
	26,126	ISTA Pharmaceuticals, Inc.^*		106,333
	2,689	Kendle International, Inc.^*		47,004
	61,208	King Pharmaceuticals, Inc.^*		719,806
	29,257	Martek Biosciences Corp.^*^(a)		658,575
	17,254	Matrixx Initiatives, Inc.^*		87,478
	38,437	Maxygen, Inc.^*		252,531
	23,617	Myriad Genetics, Inc.^*		567,989
	92,957	Nabi Biopharmaceuticals^*		508,475
	4,622	Obagi Medical Products, Inc.^*		56,296
	23,728	Par Pharmaceutical Cos, Inc.^*		588,454
	146,864	PDL BioPharma, Inc.^(a)		912,025
	55,984	Progenics Pharmaceuticals, Inc.^*^(a)		298,395

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRUCTURED SMALL CAP EQUITY FUND

Schedule of Investments (continued)

March 31, 2010 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Pharmaceuticals, Biotechnology & Life Sciences — (continued)
	48,602	Sciclone Pharmaceuticals, Inc.^*	$	171,565
	50,099	Synta Pharmaceuticals Corp.^*		215,927
	4,282	Viropharma, Inc.^*		58,363
	6,560	Watson Pharmaceuticals, Inc.^*		274,011

				8,920,778

Real Estate Investment Trust — 7.7%
	3,997	Acadia Realty Trust		71,386
	10,812	Agree Realty Corp.		247,162
	21,451	BRE Properties, Inc.		766,873
	14,098	DCT Industrial Trust, Inc.		73,733
	9,141	Equity Lifestyle Properties, Inc.		492,517
	4,582	Federal Realty Investment Trust		333,616
	41,845	Franklin Street Properties Corp.		603,823
	17,186	Health Care REIT, Inc.		777,323
	12,696	Healthcare Realty Trust, Inc.^(a)^(b)		295,690
	11,817	LTC Properties, Inc.		319,768
	6,345	National Health Investors, Inc.		245,932
	17,740	National Retail Properties, Inc.^(a)		405,004
	53,429	Nationwide Health Properties, Inc.		1,878,029
	33,467	Omega Healthcare Investors, Inc.		652,272
	6,328	Potlatch Corp.^(a)		221,733
	29,299	Rayonier, Inc.^(a)		1,331,054
	13,105	Realty Income Corp.^(a)		402,193
	19,258	Regency Centers Corp.		721,597
	13,577	Sunstone Hotel Investors, Inc.^*		151,655
	3,365	Urstadt Biddle Properties, Inc. Class A		53,201

				10,044,561

Retailing — 5.3%
	21,899	99 Cents Only Stores^*		356,954
	6,106	AnnTaylor Stores Corp.^*		126,394
	30,832	Asbury Automotive Group, Inc.^*		410,065
	7,503	Barnes & Noble, Inc.^(b)		162,215
	23,512	Brown Shoe Co., Inc.		363,966
	13,859	Build-A-Bear Workshop, Inc. Class A^*^(a)		98,676
	7,988	Core-Mark Holding Co., Inc.^*^(a)		244,513
	12,695	Dillard’s, Inc. Class A		299,602
	16,054	DSW, Inc. Class A^*		409,859
	36,766	Fred’s, Inc. Class A^(a)		440,457
	3,751	Genesco, Inc.^*		116,318
	15,373	Group 1 Automotive, Inc.^*^(a)		489,784
	1,853	Guess?, Inc.		87,054
	3,899	Haverty Furniture Cos., Inc.		63,632
	5,536	HSN, Inc.^*		162,980
	20,235	Lithia Motors, Inc. Class A^*		129,504
	13,711	MarineMax, Inc.^*		147,530
	2,822	Netflix, Inc.^*		208,094
	9,843	Orbitz Worldwide, Inc.^*		69,984
	10,866	Overstock.com, Inc.^*^(a)		176,572
	1,581	PetSmart, Inc.		50,529
	40,146	Pier 1 Imports, Inc.^*		255,730
	11,465	Shoe Carnival, Inc.^*		262,090
	7,605	Sonic Automotive, Inc. Class A^*		83,655
	55,259	Stage Stores, Inc.		850,436


Shares		Description	Value
Common Stocks — (continued)
Retailing — (continued)
	6,719	The Cato Corp. Class A	$	144,055
	30,118	Tuesday Morning Corp.^*		198,478
	12,401	Williams-Sonoma, Inc.^(a)		326,022
	9,160	Zumiez, Inc.^*		187,688

				6,922,836

Semiconductors & Semiconductor Equipment — 4.1%
	29,702	Advanced Analogic Technologies, Inc.^*		103,660
	22,717	Amkor Technology, Inc.^*^(a)		160,609
	32,648	Applied Micro Circuits Corp.^*		281,752
	6,578	Brooks Automation, Inc.^*		58,018
	22,265	DSP Group, Inc.^*		185,468
	18,511	Entegris, Inc.^*		93,295
	9,778	Integrated Device Technology, Inc.^*		59,939
	9,452	IXYS Corp.^*		80,720
	172,395	Lattice Semiconductor Corp.^*		632,690
	53,991	LSI Corp.^*		330,425
	25,618	Micrel, Inc.		273,088
	17,695	Omnivision Technologies, Inc.^*		304,000
	45,355	Photronics, Inc.^*^(a)		230,857
	123,934	RF Micro Devices, Inc.^*^(a)		617,191
	18,165	Sigma Designs, Inc.^*^(a)		213,076
	125,368	Silicon Image, Inc.^*		378,611
	92,192	Silicon Storage Technology, Inc.^*^(a)		280,264
	12,823	Standard Microsystems Corp.^*^(a)		298,520
	17,522	TriQuint Semiconductor, Inc.^*		122,654
	8,433	Volterra Semiconductor Corp.^*		211,668
	36,871	Zoran Corp.^*		396,732

				5,313,237

Software & Services — 8.2%
	17,628	Actuate Corp.^*		98,541
	33,825	Acxiom Corp.^*		606,821
	8,350	Advent Software, Inc.^*^(b)		373,662
	29,337	Art Technology Group, Inc.^*		129,376
	23,168	Blackbaud, Inc.		583,602
	17,947	Bottomline Technologies, Inc.^*		302,048
	80,925	Ciber, Inc.^*		302,659
	22,445	CommVault Systems, Inc.^*		479,201
	11,209	CSG Systems International, Inc.^*		234,941
	19,402	DemandTec, Inc.^*		134,844
	11,093	DivX, Inc.^*		79,426
	9,256	Double-Take Software, Inc.^*		82,471
	35,013	EarthLink, Inc.		299,011
	9,001	ExlService Holdings, Inc.^*		150,137
	28,894	Internap Network Services Corp.^*		161,806
	85,583	iPass, Inc.^*		98,420
	16,745	Kenexa Corp.^*		230,244
	121,557	Lionbridge Technologies, Inc.^*		441,252
	6,352	LivePerson, Inc.^*		48,720
	23,120	Manhattan Associates, Inc.^*		589,098
	55,638	Marchex, Inc. Class B		284,310
	2,600	MAXIMUS, Inc.		158,418
	33,662	Mentor Graphics Corp.^*		269,969
	9,249	MicroStrategy, Inc. Class A^*		786,812
	23,521	ModusLink Global Solutions, Inc.^*		198,282
	16,684	Ness Technologies, Inc.^*		105,276
	5,292	NeuStar, Inc. Class A^*		133,358

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRUCTURED SMALL CAP EQUITY FUND

Schedule of Investments (continued)

March 31, 2010 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Software & Services — (continued)
	9,229	PROS Holdings, Inc.^*	$	91,183
	18,246	QAD, Inc.^*		95,791
	9,350	Quest Software, Inc.^*		166,336
	99,910	RealNetworks, Inc.^*		482,565
	25,007	Renaissance Learning, Inc.		405,864
	10,872	Sonic Solutions, Inc.^*		101,871
	5,864	StarTek, Inc.^*		40,755
	51,992	Symyx Technologies, Inc.^*		233,444
	8,880	Synopsys, Inc.^*		198,646
	15,606	Taleo Corp. Class A^*		404,351
	8,794	TeleTech Holdings, Inc.^*		150,202
	2,538	TiVo, Inc.^*		43,451
	16,094	Ultimate Software Group, Inc.^*		530,297
	14,115	Unica Corp.^*		125,482
	11,081	ValueClick, Inc.^*		112,361
	6,937	VeriFone Holdings, Inc.^*		140,197

				10,685,501

Technology Hardware & Equipment — 5.3%
	6,556	3Com Corp.^*		50,416
	3,641	ADTRAN, Inc.		95,940
	12,229	Agilysys, Inc.		136,598
	17,813	Benchmark Electronics, Inc.^*		369,442
	41,074	Brightpoint, Inc.^*		309,287
	4,490	Ciena Corp.^*^(a)		68,428
	12,906	CTS Corp.		121,575
	9,838	EchoStar Corp. Class A^*		199,515
	22,783	Electronics for Imaging, Inc.^*		264,966
	3,145	EMS Technologies, Inc.^*		52,207
	24,305	Emulex Corp.^*		322,770
	36,811	Extreme Networks^*		113,010
	20,500	Gerber Scientific, Inc.^*		127,305
	16,720	Hutchinson Technology, Inc.^*		104,333
	38,302	Imation Corp.^*		421,705
	14,751	Ingram Micro, Inc. Class A^*		258,880
	19,606	Insight Enterprises, Inc.^*		281,542
	11,122	Isilon Systems, Inc.^*		95,760
	6,755	Loral Space & Communications, Inc.^*		237,236
	26,676	Methode Electronics, Inc.		264,092
	17,078	PC-Tel, Inc.^*		105,542
	16,477	Plantronics, Inc.		515,401
	39,900	Powerwave Technologies, Inc.^*		49,875
	181,661	Quantum Corp.^*		477,768
	21,771	Radisys Corp.^*		195,068
	36,456	ShoreTel, Inc.^*^(a)		240,974
	27,640	Smart Modular Technologies (WWH), Inc.^*		213,104
	12,524	Super Micro Computer, Inc.^*		216,415
	30,589	Symmetricom, Inc.^*		178,334
	2,097	Tech Data Corp.^*		87,864
	26,546	Technitrol, Inc.^(a)		140,163
	60,337	Tellabs, Inc.		456,751
	18,178	Tollgrade Communications, Inc.^*		114,340

				6,886,606

Telecommunication Services — 0.6%
	4,389	CenturyTel, Inc.		155,634


Shares		Description	Value
Common Stocks — (continued)
Telecommunication Services — (continued)
	46,274	USA Mobility, Inc.^*	$	586,292

				741,926

Transportation — 4.3%
	3,608	Alaska Air Group, Inc.^*		148,758
	32,649	Allegiant Travel Co.^*^(a)		1,889,071
	13,731	American Commercial Lines, Inc.^*^(a)		344,648
	11,621	Celadon Group, Inc.^*		161,997
	3,706	Dynamex, Inc.^*		63,743
	84,337	JetBlue Airways Corp.^*		470,601
	2,418	Marten Transport Ltd.^*		47,659
	19,744	Pacer International, Inc.^*^(a)		118,859
	75,330	Republic Airways Holdings, Inc.^*		445,954
	14,955	Saia, Inc.^*		207,575
	59,623	SkyWest, Inc.		851,416
	7,243	Universal Truckload Services, Inc.^*		127,332
	34,259	Werner Enterprises, Inc.^(a)		793,781

				5,671,394

Utilities — 2.4%
	2,537	Allete, Inc.^(a)		84,939
	11,688	Atmos Energy Corp.		333,926
	15,776	Black Hills Corp.^(a)		478,802
	2,400	Energen Corp.		111,672
	20,353	Integrys Energy Group, Inc.		964,325
	10,301	Pinnacle West Capital Corp.		388,657
	14,794	PNM Resources, Inc.		185,369
	17,044	Southwest Gas Corp.		509,956
	1,944	WGL Holdings, Inc.		67,359

				3,125,005

TOTAL COMMON STOCKS			$	127,810,661


	Shares		Rate			Value
Short-term Investment^(c) — 2.3%
JPMorgan U.S. Government Money Market Fund — Capital Shares
		3,058,260		0.031%	$	3,058,260

TOTAL INVESTMENTS BEFORE SECURITIES LENDING REINVESTMENT VEHICLE					$	130,868,921


Securities Lending Reinvestment Vehicle^(c)^(d) — 14.6%
Boston Global Investment Trust — Enhanced Portfolio II
		19,038,833		0.043%	$	19,057,872

TOTAL INVESTMENTS — 114.8%					$	149,926,793

LIABILITIES IN EXCESS OF OTHER ASSETS — (14.8)%						(19,293,012	)

NET ASSETS — 100.0%					$	130,633,781

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

GOLDMAN SACHS VARIABLE INSURANCE TRUST STRUCTURED SMALL CAP EQUITY FUND

Schedule of Investments (continued)

March 31, 2010 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FUTURES CONTRACTS — At March 31, 2010, the following futures contracts were open:

Number of

Contracts

Expiration

Current

Unrealized

Type

Long

Date

Value

Gain (Loss)

Russell 2000 Mini Index

June 2010

$2,979,240

$521

TAX INFORMATION — At March 31, 2010, the Fund’s aggregate security unrealized gains and losses based on cost for U.S. federal income tax purposes were as follows:



Tax Cost	$	128,101,087

Gross unrealized gain		25,008,671
Gross unrealized loss		(3,182,965	)

Net unrealized security gain	$	21,825,706

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

Schedule of Investments

March 31, 2010 (Unaudited)


Shares		Description	Value
Common Stocks — 98.1%
Automobiles & Components — 0.9%
	6,112	Autoliv, Inc.^*	$	314,951
	120,397	Johnson Controls, Inc.		3,971,897

				4,286,848

Banks — 3.1%
	72,982	BB&T Corp.		2,363,887
	17,565	Hudson City Bancorp, Inc.		248,720
	8,111	PNC Financial Services Group, Inc.		484,227
	137,085	U.S. Bancorp		3,547,760
	242,102	Wells Fargo & Co.		7,534,214

				14,178,808

Capital Goods — 7.7%
	2,858	3M Co.		238,843
	11,446	Armstrong World Industries, Inc.^*		415,604
	24,949	Caterpillar, Inc.		1,568,045
	14,427	Cummins, Inc.		893,753
	23,869	Eaton Corp.		1,808,554
	84,411	Emerson Electric Co.		4,249,250
	448,336	General Electric Co.		8,159,715
	31,065	Honeywell International, Inc.		1,406,312
	58,154	Ingersoll-Rand PLC		2,027,830
	72,378	Northrop Grumman Corp.		4,745,825
	9,355	Rockwell Automation, Inc.		527,248
	14,536	The Boeing Co.		1,055,459
	8,556	Timken Co.		256,766
	47,216	Toro Co.^(a)		2,321,611
	12,327	Tyco International Ltd.		471,508
	67,486	United Technologies Corp.		4,967,644

				35,113,967

Commercial & Professional Services — 0.4%
	31,539	Manpower, Inc.		1,801,508

Consumer Durables & Apparel — 0.4%
	32,479	Harman International Industries, Inc.^*		1,519,368
	3,344	NIKE, Inc. Class B		245,784
	2,506	Whirlpool Corp.		218,648

				1,983,800

Consumer Services — 1.2%
	9,695	Apollo Group, Inc. Class A^*		594,206
	78,694	Carnival Corp.		3,059,623
	13,042	Marriott International, Inc. Class A		411,084
	57,931	Starbucks Corp.^*		1,405,985

				5,470,898

Diversified Financials — 6.0%
	413,772	Bank of America Corp.		7,385,830
	86,223	Capital One Financial Corp.		3,570,494
	613,972	Citigroup, Inc.^*		2,486,587
	55,963	Discover Financial Services		833,849
	2,403	Franklin Resources, Inc.		266,493
	170,296	JPMorgan Chase & Co.		7,620,746
	85,343	SEI Investments Co.		1,874,986
	114,523	The Bank of New York Mellon Corp.		3,536,470

				27,575,455

Energy — 10.8%
	17,048	Baker Hughes, Inc.		798,528
	103,729	Chevron Corp.		7,865,770
	10,243	Cimarex Energy Co.		608,229


Shares		Description	Value
Common Stocks — (continued)
Energy — (continued)
	135,497	ConocoPhillips	$	6,933,382
	143,959	Devon Energy Corp.		9,275,278
	38,047	Exterran Holdings, Inc.^*		919,596
	223,373	Exxon Mobil Corp.		14,961,524
	92,112	Halliburton Co.		2,775,335
	33,247	Schlumberger Ltd.		2,109,855
	2,108	Transocean Ltd.^*		182,089
	106,983	Valero Energy Corp.		2,107,565
	16,929	XTO Energy, Inc.		798,710

				49,335,861

Food & Staples Retailing — 2.0%
	8,436	Costco Wholesale Corp.		503,713
	61,926	CVS Caremark Corp.		2,264,015
	43,457	Walgreen Co.		1,611,820
	84,141	Wal-Mart Stores, Inc.		4,678,240

				9,057,788

Food, Beverage & Tobacco — 6.0%
	21,390	Altria Group, Inc.		438,923
	146,336	Archer-Daniels-Midland Co.		4,229,110
	46,836	Hansen Natural Corp.^*		2,031,746
	105,481	Lorillard, Inc.		7,936,390
	71,572	PepsiCo, Inc.		4,735,204
	76,615	Philip Morris International, Inc.		3,996,238
	23,197	The Coca-Cola Co.		1,275,835
	136,853	Tyson Foods, Inc. Class A		2,620,735

				27,264,181

Health Care Equipment & Services — 3.5%
	6,242	Becton, Dickinson and Co.		491,433
	198,599	Boston Scientific Corp.^*		1,433,885
	65,807	Cardinal Health, Inc.		2,371,026
	72,112	CareFusion Corp.^*		1,905,920
	38,978	Coventry Health Care, Inc.^*		963,536
	5,579	Covidien PLC		280,512
	11,358	Humana, Inc.^*		531,214
	9,365	McKesson Corp.		615,468
	16,580	Stryker Corp.		948,708
	99,024	UnitedHealth Group, Inc.		3,235,114
	51,454	WellPoint, Inc.^*		3,312,608

				16,089,424

Household & Personal Products — 2.3%
	9,316	Colgate-Palmolive Co.		794,282
	7,261	Kimberly-Clark Corp.		456,572
	144,093	The Procter & Gamble Co.		9,116,764

				10,367,618

Insurance — 3.4%
	10,212	ACE Ltd.		534,088
	19,341	Berkshire Hathaway, Inc. Class B^*		1,571,843
	15,324	Loews Corp.		571,279
	81,551	MetLife, Inc.		3,534,420
	37,199	Prudential Financial, Inc.		2,250,540
	28,143	The Travelers Companies, Inc.		1,518,033
	224,969	Unum Group		5,572,482

				15,552,685

Materials — 3.6%
	20,367	Alcoa, Inc.		290,026

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

Schedule of Investments (continued)

March 31, 2010 (Unaudited)


Shares		Description	Value
Common Stocks — (continued)
Materials — (continued)
	72,007	E.I. du Pont de Nemours & Co.	$	2,681,541
	22,396	Eastman Chemical Co.		1,426,177
	30,054	Freeport-McMoRan Copper & Gold, Inc.		2,510,711
	79,265	International Paper Co.		1,950,712
	15,425	Monsanto Co.		1,101,654
	37,131	Newmont Mining Corp.		1,891,082
	8,053	Nucor Corp.		365,445
	10,683	Reliance Steel & Aluminum Co.		525,924
	11,645	Schnitzer Steel Industries, Inc. Class A		611,712
	102,434	The Dow Chemical Co.		3,028,973

				16,383,957

Media — 4.0%
	174,637	Comcast Corp. Class A		3,286,668
	135,585	Comcast Corp. Special A Shares		2,436,462
	147,424	DISH Network Corp. Class A		3,069,368
	18,888	News Corp. Class B^(a)		321,285
	3,186	Time Warner Cable, Inc.		169,846
	284,832	Time Warner, Inc.		8,906,697

				18,190,326

Pharmaceuticals, Biotechnology & Life Sciences — 9.3%
	119,232	Amgen, Inc.^*		7,125,304
	7,738	Celgene Corp.^*		479,447
	355,774	Eli Lilly & Co.		12,886,134
	63,409	Forest Laboratories, Inc.^*		1,988,506
	109,880	Gilead Sciences, Inc.^*		4,997,342
	58,146	Johnson & Johnson		3,791,119
	18,893	Merck & Co., Inc.		705,654
	607,925	Pfizer, Inc.		10,425,914

				42,399,420

Real Estate Investment Trust — 3.2%
	14,719	AvalonBay Communities, Inc.		1,270,985
	17,911	Plum Creek Timber Co., Inc.^(a)		696,917
	24,226	Public Storage, Inc.		2,228,550
	65,818	Rayonier, Inc.^(a)		2,990,112
	88,296	Simon Property Group, Inc.		7,408,034

				14,594,598

Retailing — 3.6%
	18,960	Amazon.com, Inc.^*		2,573,441
	32,028	Best Buy Co., Inc.		1,362,471
	13,734	Dollar Tree, Inc.^*		813,327
	50,110	Expedia, Inc.		1,250,746
	16,397	J.C. Penney Co., Inc.		527,491
	41,037	Macy’s, Inc.		893,376
	20,514	Nordstrom, Inc.^(a)		837,997
	77,259	Ross Stores, Inc.		4,131,039
	35,263	The Gap, Inc.		814,928
	55,770	The TJX Companies, Inc.		2,371,340
	28,966	Williams-Sonoma, Inc.^(a)		761,516

				16,337,672

Semiconductors & Semiconductor Equipment — 3.6%
	451,098	Intel Corp.		10,041,442
	30,451	LSI Corp.^*		186,360
	255,105	Texas Instruments, Inc.		6,242,419

				16,470,221


Shares		Description	Value
Common Stocks — (continued)
Software & Services — 7.9%
	109,786	Accenture PLC Class A	$	4,605,523
	3,265	Computer Sciences Corp.^*		177,910
	12,086	eBay, Inc.^*		325,717
	8,048	Google, Inc. Class A^*		4,563,296
	625,159	Microsoft Corp.		18,298,404
	165,594	Oracle Corp.		4,254,110
	180,910	Symantec Corp.^*		3,060,997
	40,083	VeriSign, Inc.^*		1,042,559

				36,328,516

Technology Hardware & Equipment — 7.7%
	6,844	Apple, Inc.^*		1,607,861
	14,070	Arrow Electronics, Inc.^*		423,929
	15,425	Avnet, Inc.^*		462,750
	286,905	Cisco Systems, Inc.^*		7,468,137
	327,568	Dell, Inc.^*		4,916,796
	96,398	EMC Corp.^*		1,739,020
	90,817	Flextronics International Ltd.^*		712,005
	34,256	Hewlett-Packard Co.		1,820,706
	152,664	Ingram Micro, Inc. Class A^*		2,679,253
	188,337	Motorola, Inc.^*		1,322,126
	29,604	QUALCOMM, Inc.		1,243,072
	10,425	SanDisk Corp.^*		361,018
	258,596	Seagate Technology^*		4,721,963
	90,480	Tellabs, Inc.		684,934
	86,274	Tyco Electronics Ltd.		2,370,809
	64,109	Western Digital Corp.^*		2,499,610

				35,033,989

Telecommunication Services — 2.6%
	320,722	AT&T, Inc.^(b)		8,287,457
	7,820	CenturyTel, Inc.		277,297
	566,674	Sprint Nextel Corp.^*		2,153,361
	34,442	Verizon Communications, Inc.		1,068,391

				11,786,506

Transportation — 2.5%
	18,690	FedEx Corp.		1,745,646
	152,617	United Parcel Service, Inc. Class B		9,830,061

				11,575,707

Utilities — 2.4%
	5,998	Consolidated Edison, Inc.		267,151
	4,185	Constellation Energy Group, Inc.		146,935
	35,126	Dominion Resources, Inc.		1,444,030
	259,042	Duke Energy Corp.		4,227,565
	2,156	Entergy Corp.		175,391
	86,875	Exelon Corp.		3,805,994
	5,524	Integrys Energy Group, Inc.		261,727
	13,254	NiSource, Inc.		209,413
	22,446	Public Service Enterprise Group, Inc.		662,606

				11,200,812

TOTAL COMMON STOCKS			$	448,380,565

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

Schedule of Investments (continued)

March 31, 2010 (Unaudited)


Shares		Rate	Value
Short-term Investment^(c) — 2.4%
JPMorgan U.S. Government Money Market Fund — Capital Shares
	10,861,894	0.031%	$	10,861,894

TOTAL INVESTMENTS BEFORE SECURITIES LENDING REINVESTMENT VEHICLE			$	459,242,459


Securities Lending Reinvestment Vehicle — 0.7%
Boston Global Investment Trust — Enhanced Portfolio II^(c)(d)
	3,238,711	0.043%	$	3,241,950

TOTAL INVESTMENTS — 101.2%			$	462,484,409

LIABILITIES IN EXCESS OF OTHER ASSETS — (1.2)%				(5,373,694	)

NET ASSETS — 100.0%			$	457,110,715

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) A portion of this security is segregated as collateral for initial margin requirements on futures transactions.

(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)

March 31, 2010 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FUTURES CONTRACTS — At March 31, 2010, the following futures contracts were open:

Number of

Contracts

Expiration

Current

Unrealized

Type

Long

Date

Value

Gain (Loss)

S&P 500 E-mini Index

134

June 2010

7,806,840

130,717

TAX INFORMATION — At March 31, 2010, the Fund’s aggregate security unrealized gains and losses based on cost for U.S. federal income tax purposes were as follows:



Tax Cost	$	399,205,552

Gross unrealized gain		68,579,974
Gross unrealized loss		(5,301,117	)

Net unrealized security gain	$	63,278,857

GOLDMAN SACHS VARIABLE INSURANCE TRUST FUNDS

Schedule of Investments

March 31, 2010 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS

Investment Valuation — The investment valuation policy of the Funds (except VIT Money Market Fund) is to value investments at market value. Investments in equity securities and investment companies 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 fair value service may not take into account market or security specific information, under the valuation procedures, these securities might also be fair valued by Goldman Sachs Asset Management International (“GSAMI”) by taking into consideration market or security specific information as discussed below.

Investments in equity securities and investment companies traded on a U.S. securities exchange or the NASDAQ system are valued daily at their last sale price or official closing price on the principal exchange or system on which they are traded. Investments in equity securities and investment companies traded on a foreign securities exchange for which an independent fair value service cannot provide a quote are valued daily at their last sale price or official closing price on the principal exchange on which they are traded. If no sale occurs, such securities and investment companies are valued at the last bid price for long positions and at the last ask price for short positions. 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 Goldman Sachs Asset Management (“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.

It is the Money Market Fund’s policy to use the amortized-cost method permitted by Rule 2a-7 under the Investment Company Act of 1940, as amended (the “Act”), which approximates market value, for valuing portfolio securities. 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

GOLDMAN SACHS VARIABLE INSURANCE TRUST FUNDS

Schedule of Investments

March 31, 2010 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (CONTINUED)

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 of 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). Accounting principles generally accepted in the United States of America (“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 significant inputs are observable (including but not limited to quoted prices for similar securities, interest rates, foreign exchange rates, prepayment speeds and credit risk), either directly or indirectly;

Level 3—Prices or valuations that require significant unobservable inputs (including GSAM’s assumptions in determining fair value measurement).

The following is a summary of the Funds’ investments categorized in the fair value hierarchy, as of March 31, 2010:


VIT Core Fixed Income	Level 1			Level 2			Level 3

Assets
Fixed Income
Corporate Obligations	$	—		$	38,609,960		$	—
Mortgage-Backed Obligations		—			79,682,273			—
U.S. Treasuries and/or Other U.S. Government Obligations and Agencies		16,844,815			2,796,037			—
Asset-Backed Securities		—			1,211,231			—
Foreign Debt Obligations		2,063,344			6,521,206			—
Municipal Debt Obligations		—			2,548,485			—
Government Guarantee Obligations		—			26,573,902			—
Short-term Investment		14,950,228			—			—
Derivatives		69,246			117,094			—

Total	$	33,927,633		$	158,060,188		$	—

Liabilities
Derivatives	$	(109,007	)	$	(91,833	)	$	—

GOLDMAN SACHS VARIABLE INSURANCE TRUST FUNDS

Schedule of Investments

March 31, 2010 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (CONTINUED)


VIT Capital Growth†	Level 1		Level 2		Level 3

Assets
Common Stock and/or Other Equity Investments	$	342,217,817	$	—	$	—
Short-term Investment		4,176,232		—		—
Securities Lending Reinvestment Vehicle		—		495,690		—

Total	$	346,394,049	$	495,690	$	—


VIT Equity Index	Level 1			Level 2		Level 3

Assets
Common Stock and/or Other Equity Investments	$	199,210,795		$	—	$	—
Short-term Investment		2,124,087			—		—
Derivatives		41,486			—		—

Total	$	201,376,368		$	—	$	—


VIT Government Income	Level 1			Level 2		Level 3

Assets
Fixed Income
Mortgage-Backed Obligations	$	—		$	36,682,002	$	—
U.S. Treasuries and/or Other U.S. Government Obligations and Agencies		10,174,205			14,132,506		—
Asset-Backed Securities		—			1,548,063		—
Government Guarantee Obligations		—			9,259,329		—
Short-term Investment		13,879,150			—		—
Derivatives		460			—		—

Total	$	24,053,815		$	61,621,900	$	—

Liabilities
Derivatives	$	(60,613	)	$	—	$	—


VIT Growth Opportunities	Level 1			Level 2		Level 3

Assets
Common Stock and/or Other Equity Investments	$	129,842,894		$	—	$	—
Short-term Investment		658,772			—		—
Securities Lending Reinvestment Vehicle		—			2,931,314		—

Total	$	130,501,666		$	2,931,314	$	—


VIT Growth and Income††	Level 1			Level 2		Level 3

Assets
Common Stock and/or Other Equity Investments	$	944,427,333		$	8,460,570	$	—
Short-term Investment		19,840,426			—		—
Securities Lending Reinvestment Vehicle		—			1,770,168		—

Total	$	964,267,759		$	10,230,738	$	—

† Effective April 30, 2010, the Fund changed its name to the Goldman Sachs Variable Insurance Trust Strategic Growth Fund.

†† Effective April 30, 2010, the Fund changed its name to the Goldman Sachs Variable Insurance Trust Large Cap Value Fund.

GOLDMAN SACHS VARIABLE INSURANCE TRUST FUNDS

Schedule of Investments

March 31, 2010 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (CONTINUED)


VIT Mid Cap Value	Level 1		Level 2		Level 3

Assets
Common Stock and/or Other Equity Investments	$	1,001,916,392	$	27,121	$	—
Short-term Investment		9,755,903		—		—
Securities Lending Reinvestment Vehicle		—		8,766,012		—

Total	$	1,011,672,295	$	8,793,133	$	—


VIT Money Market	Level 1		Level 2^(a)		Level 3

Assets
Corporate Obligations (including repurchase agreements)	$	—	$	99,523,332	$	—
U.S. Treasuries and/or Other U.S. Government Obligations and Agencies		999,102		28,534,117		—
Municipal Debt Obligations		—		5,095,000		—

Total	$	999,102	$	133,152,449	$	—

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


VIT Strategic International Equity	Level 1		Level 2			Level 3

Assets
Common Stock and/or Other Equity Investments	$	13,525,480	$	216,771,518	^(a)	$	—
Short-term Investment		11,563,827		—			—
Securities Lending Reinvestment Vehicle		—		19,163,271			—
Derivatives		4,793		—			—

Total	$	25,094,100	$	235,934,789		$	—

(a) To adjust for the time difference between local market close and the calculation of net asset value, the Fund utilizes fair value model prices for international equities provided by an independent fair value 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	$	127,810,661	$	—	$	—
Short-term Investment		3,058,260		—		—
Securities Lending Reinvestment Vehicle		—		19,057,872		—
Derivatives		521		—		—

Total	$	130,869,442	$	19,057,872	$	—

GOLDMAN SACHS VARIABLE INSURANCE TRUST FUNDS

Schedule of Investments

March 31, 2010 (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	$	448,380,565	$	—	$	—
Securities Lending Reinvestment Vehicle		—		3,241,950		—
Short-term Investment		10,861,894		—		—
Derivatives		130,717		—		—

Total	$	459,373,176	$	3,241,950	$	—

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 foreign currency 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 is included with the net realized and change in unrealized gain (loss) on investments on the Statements of Operations. The effect of changes in foreign currency exchange rates on fixed income securities sold during the period is included with the net realized gain (loss) on foreign currency related transactions, while the effect of changes in foreign currency exchange rates on fixed income securities held at period end is included with the net change in unrealized gain (loss) on investments on the Statements of Operations. 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.

Non U.S. currency symbols utilized throughout the report are defined as follows:


AUD		= Australian Dollar
CAD		= Canadian Dollar
CHF		= Swiss Franc
EUR		= Euro
GBP		= British Pound
JPY		= Japanese Yen
NOK		= Norwegian Krone
NZD		= New Zealand Dollar
SEK		= Swedish Krona

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. Unrealized gains or losses on forward foreign currency exchange contracts are recorded by the Funds on a daily basis and realized gains or losses are recorded 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.

GOLDMAN SACHS VARIABLE INSURANCE TRUST FUNDS

Schedule of Investments

March 31, 2010 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (CONTINUED)

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.

Investments in 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.

GAAP requires enhanced disclosures about the Funds’ derivatives and hedging activities. The following tables set forth the gross value of the Funds’ derivative contracts for trading activities by certain risk types as of March 31, 2010. 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 Funds’ net exposure.


		Derivative		Derivative
Fund	Risk	Assets		Liabilities

VIT Core Fixed Income	Currency	$	117,094	$	(91,833	)
	Interest rate		69,246		(109,007	)

Total		$	186,340	$	(200,840	)


VIT Equity Index	Equity	$	41,486	$	—

VIT Government Income	Interest rate		460		(60,613	)

VIT Strategic International Equity	Equity		4,793		—

VIT Structured Small Cap	Equity		521		—

VIT Structured U.S. Equity	Equity		130,717		—

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.

GOLDMAN SACHS VARIABLE INSURANCE TRUST FUNDS

Schedule of Investments

March 31, 2010 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (CONTINUED)

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. These adjustments are included in interest income. Payments received for PO’s are treated as a proportionate reduction to the cost basis of the securities and excess amounts are recorded gains.

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 counterparty.

Repurchase Agreements — The Funds may enter into repurchase agreements which 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 Funds may be delayed or limited and there may be a decline in the value of the collateral during the period while the Funds seeks to assert their rights. The underlying securities for all repurchase agreements are held at the Funds’ custodian or designated sub-custodians under tri-party repurchase agreements. Under these agreements, the Money Market Fund is permitted to deliver or re-pledge these securities.

Pursuant to exemptive relief granted by the Securities and Exchange Commission (“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 Funds’ credit exposure is allocated to the underlying repurchase agreements counterparties on a pro-rata basis. With the exception of certain transaction fees, the Funds is not subject to any expenses in relation to these investments.

JOINT REPURCHASE AGREEMENT ACCOUNT II — At March 31, 2010, the Money Market Fund had an undivided interest in the Joint Repurchase Agreement Account II which equaled $30,600,000 in principal amount.

GOLDMAN SACHS VARIABLE INSURANCE TRUST FUNDS

Schedule of Investments

March 31, 2010 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (CONTINUED)

REPURCHASE AGREEMENTS


	Principal		Interest			Maturity		Maturity
Counterparty	Amount		Rate			Date		Value

Banc of America Securities LLC	$	380,000,000		0.030	%		04/01/10	$	380,000,317

Barclays Capital, Inc.		1,203,200,000		0.030			04/01/10		1,203,201,003

BNP Paribas Securities Co.		1,000,000,000		0.005			04/01/10		1,000,000,139

BNP Paribas Securities Co.		2,000,000,000		0.010			04/01/10		2,000,000,556

Citigroup Global Markets, Inc.		1,500,000,000		0.020			04/01/10		1,500,000,833

Credit Suisse Securities (USA) LLC		875,000,000		0.020			04/01/10		875,000,486

Deutsche Bank Securities, Inc.		1,450,000,000		0.030			04/01/10		1,450,001,208

JPMorgan Securities		950,000,000		0.005			04/01/10		950,000,132

JPMorgan Securities		335,000,000		0.020			04/01/10		335,000,186

Merrill Lynch & Co., Inc.		850,000,000		0.030			04/01/10		850,000,708

Morgan Stanley & Co.		2,250,000,000		0.020			04/01/10		2,250,001,250

RBS Securities, Inc.		1,500,000,000		0.020			04/01/10		1,500,000,833

UBS Securities LLC		500,000,000		0.010			04/01/10		500,000,139

UBS Securities LLC		58,900,000		0.020			04/01/10		58,900,033

Wells Fargo Securities LLC		3,750,000,000		0.020			04/01/10		3,750,002,083

TOTAL								$	18,602,109,906

At March 31, 2010, the Joint Repurchase Agreement Account II was fully collateralized by:


Issuer	Interest Rates		Maturity Dates

Federal Home Loan Bank	0.000% to 3.750%		06/11/10 to 06/13/14

Federal Home Loan Mortgage Corp.		0.179 to 13.250	04/30/10 to 04/01/40

Federal National Mortgage Association		0.000 to 12.750	04/01/10 to 03/01/50

Federal National Mortgage Association Interest-Only Stripped Security		0.000		01/15/16

Government National Mortgage Association		3.500 to 6.500	09/15/18 to 03/20/40

Tennessee Valley Authority Interest-Only Stripped Security		0.000		11/01/10

U.S. Treasury Interest-Only Stripped Securities		0.000	04/15/10 to 02/15/16

U.S. Treasury Notes		0.875 to 4.625	12/15/10 to 03/31/17

The aggregate market value of the collateral, including accrued interest, was $19,008,833,377.

GOLDMAN SACHS VARIABLE INSURANCE TRUST FUNDS

Schedule of Investments

March 31, 2010 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (CONTINUED)

Securities Lending — Pursuant to exemptive relief granted by the Securities and Exchange Commission and the terms and conditions contained therein, the Funds may lend their securities through a securities lending agent, Goldman Sachs Agency Lending (“GSAL”), a wholly-owned subsidiary of Goldman, Sachs & Co. (“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 a 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 when the collateral is insufficient to cover the cost of repurchasing securities on loan.

The Capital Growth†, Growth Opportunities, Growth and Income††, 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 Enhance Portfolio and Enhance Portfolio II, deemed an affiliate of the Trust, are exempt from registration under Section 3(c)(7) of the Act, as amended (the “Act”) and are 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 and 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.

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.

GOLDMAN SACHS VARIABLE INSURANCE TRUST FUNDS

Schedule of Investments

March 31, 2010 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (CONTINUED)

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 transaction 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.

Risks of Large Shareholder Redemptions — Certain participating insurance companies, accounts, or Goldman Sachs affiliates may from time to time own (beneficially or of record) or control a significant percentage of the Funds’ shares. Redemptions by these participating insurance companies or accounts in the Funds may impact the Funds’ liquidity and NAV. These redemptions may also force the Funds to sell securities, which may increase the Funds’ brokerage costs.

Item 2. Controls and Procedures.

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

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

Item 3. Exhibits.

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

SIGNATURES

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


(Registrant)	Goldman Sachs Variable Insurance Trust

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

Date May 28, 2010

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


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

Date May 28, 2010

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

Date May 28, 2010

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


Peter V. Bonanno, Esq. Goldman, Sachs & Co. 200 West Street New York, NY 10208		Copies to: Geoffrey R.T. Kenyon, Esq. Dechert LLP 200 Clarendon Street 27th Floor Boston, MA 02116-5021


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



Tax Cost	$	305,992,742

Gross unrealized gain		44,817,909
Gross unrealized loss		(3,920,912	)

Net unrealized security gain	$	40,896,997



Tax Cost	$	189,743,090

Gross unrealized gain		5,121,326
Gross unrealized loss		(3,062,935	)

Net unrealized security gain	$	2,058,391



Tax Cost	$	871,629,832

Gross unrealized gain		120,612,477
Gross unrealized loss		(17,743,812	)

Net unrealized security gain	$	102,868,665



Tax Cost	$	118,362,955

Gross unrealized gain		18,916,769
Gross unrealized loss		(3,846,744	)

Net unrealized security gain	$	15,070,025



Tax Cost	$	888,065,622

Gross unrealized gain		146,189,835
Gross unrealized loss		(13,790,029	)

Net unrealized security gain	$	132,399,806