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          <ticker value="FGTXX"/>
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        <fairValLevel>1</fairValLevel>
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        <name>iShares Core MSCI Emerging Markets ETF</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>MORGAN STANLEY CAPITAL SERVICES LLC</name>
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        <name>iShares Core S&amp;P Mid-Cap ETF</name>
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          <isin value="US4642875078"/>
          <ticker value="IJH"/>
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        <fairValLevel>1</fairValLevel>
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        <name>iShares Core S&amp;P 500 ETF</name>
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          <isin value="US4642872000"/>
          <ticker value="IVV"/>
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        <fairValLevel>1</fairValLevel>
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        <name>iShares 7-10 Year Treasury Bond ETF</name>
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          <isin value="US4642874402"/>
          <ticker value="IEF"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Invesco Nasdaq 100 ETF</name>
        <lei>549300TKJ3EA6QHM7D23</lei>
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          <isin value="US46138G6492"/>
          <ticker value="QQQM"/>
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        <curCd>USD</curCd>
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        <fairValLevel>1</fairValLevel>
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        <name>Health Care Select Sector SPDR Fund</name>
        <lei>549300EJNY3KKJHPOY44</lei>
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          <ticker value="XLV"/>
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        <fairValLevel>1</fairValLevel>
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        <name>Goldman Sachs Energy Infrastructure Fund</name>
        <lei>5493004HQKOKO2ODA746</lei>
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          <isin value="US38148U2399"/>
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        <fairValLevel>1</fairValLevel>
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        <name>Vanguard Russell 2000 ETF</name>
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        <title>Vanguard Russell 2000 ETF</title>
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          <isin value="US92206C6646"/>
          <ticker value="VTWO"/>
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        <fairValLevel>1</fairValLevel>
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        <name>MORGAN STANLEY CAPITAL SERVICES LLC</name>
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        <name>EUREX CLEARING AKTIENGESELLSCHAFT</name>
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        <isRestrictedSec>N</isRestrictedSec>

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            <expDate>2025-09-19</expDate>
            <notionalAmt>427588.71000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-1791.45000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NATIONAL STOCK EXCHANGE OF INDIA LIMITED</name>
        <lei>335800NLY5HYW9I7YE03</lei>
        <title>IFSC NIFTY 50</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="JGSU5"/>
          <other otherDesc="ID_BB_GLOBAL" value="BBG01Q0VFTD8"/>
        </identifiers>
        <balance>11.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-11327.66000000</valUSD>
        <pctVal>-0.00240070488</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>NATIONAL STOCK EXCHANGE OF INDIA LIMITED</counterpartyName>
              <counterpartyLei>335800NLY5HYW9I7YE03</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>NATIONAL STOCK EXCHANGE OF INDIA LIMITED</issuerName>
                <issueTitle>NIFTY 50 INDEX</issueTitle>
                <identifiers>
                  <cusip value="000000000"/>
                  <ticker value="NIFTY"/>
                  <other otherDesc="INTERNAL" value="NIFTY_INDEX_IN"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2025-09-30</expDate>
            <notionalAmt>551493.66000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-11327.66000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-10-21</ncom:dateSigned>
      <ncom:nameOfApplicant>Goldman Sachs Trust</ncom:nameOfApplicant>
      <ncom:signature>Peter Fortner</ncom:signature>
      <ncom:signerName>Peter Fortner</ncom:signerName>
      <ncom:title>Vice President Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
