UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-05349

Goldman Sachs Trust

(Exact name of registrant as specified in charter)

71 South Wacker Drive, Chicago, Illinois 60606

(Address of principal executive offices)                                                             (Zip code)

Peter V. Bonanno, Esq.
Goldman, Sachs & Co.
200 West Street
New York, New York 10282 Copies to:
Geoffrey R.T. Kenyon, Esq.
Dechert LLP
200 Clarendon Street
27^th Floor
Boston, MA 02116-5021

(Name and address of agent for service)

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

Date of fiscal year end:      March 31

Date of reporting period: June 30, 2011

Item 1. Schedule of Investments.

GOLDMAN SACHS ENHANCED INCOME FUND

Schedule of Investments

June 30, 2011 (Unaudited)

Principal		Interest			Maturity
Amount		Rate			Date	Value
Corporate Obligations — 54.4%
Banks — 27.9%
Abbey National Treasury Services PLC
$	2,750,000		2.875	%	04/25/14	$	2,755,988
ANZ National (International) Ltd.(a)
	3,675,000		6.200		07/19/13		4,004,941
Australia & New Zealand Banking Group Ltd.(a)(b)
	4,100,000		1.030		01/10/14		4,112,263
Bank of America Corp.
	625,000		4.500		04/01/15		653,319
Bank of Nova Scotia(a)
	13,500,000		1.450		07/26/13		13,654,980
Bank of Scotland PLC(a)
	14,000,000		5.000		11/21/11		14,204,218
Bank of Tokyo-Mitsubishi UFJ Ltd.(a)
	3,600,000		2.600		01/22/13		3,673,264
Barclays Bank PLC
	3,225,000		5.450		09/12/12		3,395,570
BB&T Corp.
	2,725,000		3.850		07/27/12		2,815,222
BPCE SA(a)(b)
	1,875,000		2.018		02/07/14		1,887,896
Caisse centrale Desjardins du Quebec(a)
	1,600,000		2.550		03/24/16		1,618,712
Canadian Imperial Bank of Commerce(a)
	8,600,000		2.000		02/04/13		8,761,439
	2,200,000		2.750		01/27/16		2,250,930
Cie de Financement Foncier
	900,000		1.625	(a)	07/23/12		907,222
	300,000		1.625		07/23/12		301,328
	10,100,000		2.125	(a)	04/22/13		10,250,631
Citigroup, Inc.
	1,575,000		6.375		08/12/14		1,747,124
Commonwealth Bank of Australia(a)(b)
	6,225,000		0.975		03/17/14		6,224,984
Credit Suisse New York
	3,675,000		3.450		07/02/12		3,780,170
DnB NOR Boligkreditt AS(a)
	5,200,000		2.900		03/29/16		5,292,851
	7,600,000		2.100		10/14/16		7,511,027
ING Bank NV(a)
	4,200,000		2.500		01/14/16		4,126,286
Intesa Sanpaolo New York
	11,700,000		2.375		12/21/12		11,789,400
JPMorgan Chase & Co.(b)
	8,375,000		1.074		01/24/14		8,396,348
Landesbank Baden-Wuerttemberg(a)(b)
	11,900,000		0.467		06/22/12		11,900,000
Lloyds TSB Bank PLC(a)
	1,725,000		4.375		01/12/15		1,750,709
Nordea Bank AB(a)(b)
	6,550,000		1.181		01/14/14		6,607,345
Nordea Bank Norge ASA(a)(b)
	4,000,000		0.666		04/07/14		4,001,104
Rabobank Nederland(a)
	5,900,000		2.650		08/17/12		6,035,051
	4,675,000		4.200		05/13/14		5,004,438
Royal Bank of Scotland PLC(a)
	2,975,000		4.875		08/25/14		3,096,276
Sovereign Bank
	5,848,000		5.125		03/15/13		5,958,591
Sparebank 1 Boligkreditt AS(a)
	6,200,000		2.625		05/27/16		6,207,849

Principal		Interest			Maturity
Amount		Rate			Date	Value
Corporate Obligations — (continued)
Banks — (continued)
Sparebanken 1 Boligkreditt(a)
$	11,700,000		1.250	%	10/25/13	$	11,688,031
Stadshypotek AB(a)
	6,900,000		1.450		09/30/13		6,944,995
Standard Chartered PLC(a)
	3,625,000		3.850		04/27/15		3,752,578
Swedbank Hypotek AB(a)(b)
	1,600,000		0.696		03/28/14		1,599,503
UBS AG
	5,200,000		2.250		08/12/13		5,273,890
Wachovia Corp.
	5,127,000		5.500		05/01/13		5,514,439
Westpac Banking Corp.
	9,225,000		2.250		11/19/12		9,387,635
							218,838,547
Electric(c) — 3.0%
Carolina Power & Light Co.
	3,140,000		6.500		07/15/12		3,324,326
Commonwealth Edison Co.
	3,625,000		1.625		01/15/14		3,650,564
Enel Finance International SA(a)
	6,375,000		5.700		01/15/13		6,713,194
PacifiCorp
	2,675,000		5.450		09/15/13		2,923,489
Public Service Co. of Colorado
	2,325,000		7.875		10/01/12		2,525,656
Southern Co.
	875,000		4.150		05/15/14		924,941
Wisconsin Electric Power Co.
	2,875,000		6.000		04/01/14		3,200,629
							23,262,799
Energy — 3.6%
Apache Corp.(c)
	2,975,000		6.000		09/15/13		3,287,343
BP Capital Markets PLC
	2,675,000		3.125		10/01/15		2,739,046
EnCana Corp.(c)
	1,525,000		6.300		11/01/11		1,553,409
	625,000		4.750		10/15/13		669,299
Shell International Finance BV(c)
	12,800,000		1.875		03/25/13		13,053,347
Statoil ASA(c)
	650,000		3.875		04/15/14		695,845
	3,470,000		5.125	(a)	04/30/14		3,832,806
Total SA(c)
	2,425,000		1.625		01/28/14		2,454,046
							28,285,141
Food and Beverage — 0.9%
Diageo Finance BV
	3,700,000		5.500		04/01/13		3,980,424
Kellogg Co.(c)
	3,200,000		5.125		12/03/12		3,389,969
							7,370,393
Health Care Products(c) — 1.5%
St. Jude Medical, Inc.
	5,825,000		2.200		09/15/13		5,932,998
Thermo Fisher Scientific, Inc.
	5,900,000		2.150		12/28/12		6,012,242
							11,945,240

GOLDMAN SACHS ENHANCED INCOME FUND

Schedule of Investments (continued)

June 30, 2011 (Unaudited)

Principal		Interest			Maturity
Amount		Rate			Date	Value
Corporate Obligations — (continued)
Health Care Services(c) — 0.7%
Covidien International Finance SA
$	1,625,000		1.875	%	06/15/13	$	1,647,283
	2,525,000		2.800		06/15/15		2,578,542
McKesson Corp.
	950,000		3.250		03/01/16		976,667
							5,202,492
Life Insurance — 4.5%
MassMutual Global Funding II(a)(b)
	5,450,000		0.747		09/27/13		5,477,097
Metropolitan Life Global Funding I(a)
	3,400,000		5.125		11/09/11		3,455,580
	6,000,000		2.500		01/11/13		6,108,624
	1,725,000		5.125		04/10/13		1,835,448
	3,437,000		5.125		06/10/14		3,755,129
Nationwide Life Global Funding I(a)
	1,175,000		5.450		10/02/12		1,226,700
Prudential Financial, Inc.
	3,625,000		5.800		06/15/12		3,793,120
	1,625,000		2.750		01/14/13		1,657,879
Reinsurance Group of America, Inc.
	2,375,000		6.750		12/15/11		2,433,294
Sun Life Financial Global Funding LP(a)(b)
	3,750,000		0.547		10/06/13		3,720,743
TIAA Global Markets, Inc.(a)(c)
	1,900,000		5.125		10/10/12		1,998,564
							35,462,178
Media - Non Cable(c) — 1.5%
Reed Elsevier Capital, Inc.
	3,425,000		4.625		06/15/12		3,537,312
	4,050,000		7.750		01/15/14		4,634,329
Thomson Reuters Corp.
	3,209,000		5.950		07/15/13		3,505,291
							11,676,932
Noncaptive - Financial — 3.1%
American Express Credit Corp.
	4,775,000		2.750		09/15/15		4,773,629
General Electric Capital Corp.
	4,000,000		3.500		08/13/12		4,122,812
	8,650,000		1.144	(b)	01/07/14		8,699,288
HSBC Finance Corp.(b)
	450,000		0.478		08/09/11		450,092
	2,000,000		0.544		04/24/12		1,998,030
	1,350,000		0.625		07/19/12		1,349,297
	2,775,000		0.597		09/14/12		2,766,800
							24,159,948
Pipelines — 0.2%
TransCanada Pipelines Ltd.
	1,200,000		8.625		05/15/12		1,280,824
Property/Casualty Insurance(c) — 0.4%
The Travelers Cos., Inc.
	3,150,000		5.375		06/15/12		3,288,021

Principal		Interest			Maturity
Amount		Rate			Date	Value
Corporate Obligations — (continued)
Real Estate Investment Trust(c) — 1.0%
Simon Property Group LP
$	2,475,000		4.200	%	02/01/15	$	2,639,631
WEA Finance LLC(a)
	2,941,000		5.400		10/01/12		3,090,373
WEA Finance LLC/WT Finance Australia Property Ltd.(a)
	2,025,000		7.500		06/02/14		2,334,080
							8,064,084
Technology(c) — 1.2%
Dell, Inc.
	1,425,000		3.375		06/15/12		1,462,430
Hewlett-Packard Co.
	4,695,000		6.125		03/01/14		5,268,112
International Business Machines Corp.
	2,545,000		6.500		10/15/13		2,860,075
							9,590,617
Tobacco — 1.1%
Philip Morris International, Inc.
	4,775,000		4.875		05/16/13		5,121,167
	3,300,000		6.875		03/17/14		3,784,486
							8,905,653
Wireless Telecommunications — 3.6%
ALLTEL Corp.
	1,350,000		6.500		11/01/13		1,496,885
Cellco Partnership/Verizon Wireless Capital LLC(c)
	2,025,000		5.250		02/01/12		2,078,140
New Cingular Wireless Services, Inc.(c)
	12,550,000		8.125		05/01/12		13,306,000
Telefonica Emisiones SAU(b)(c)
	2,150,000		0.603		02/04/13		2,117,223
Vodafone Group PLC(c)
	4,325,000		5.350		02/27/12		4,456,549
	4,450,000		5.000		12/16/13		4,834,232
							28,289,029
Wirelines Telecommunications(c) — 0.2%
France Telecom SA
	1,325,000		4.375		07/08/14		1,439,439
TOTAL CORPORATE OBLIGATIONS						$	427,061,337
Agency Debentures — 0.8%
FHLMC
$	3,000,000		3.440	%	03/02/16	$	3,059,460
FNMA(d)
	3,000,000		3.000		07/28/14		3,005,884
TOTAL AGENCY DEBENTURES						$	6,065,344
Asset-Backed Securities — 7.3%
Autos — 1.5%
Bank of America Auto Trust Series 2009-2A, Class A3(a)
$	3,630,209		2.130	%	09/15/13	$	3,654,468
Ford Credit Auto Owner Trust Series 2009-B, Class A3
	7,954,581		2.790		08/15/13		8,026,244
							11,680,712

GOLDMAN SACHS ENHANCED INCOME FUND

Schedule of Investments (continued)

June 30, 2011 (Unaudited)

Principal		Interest			Maturity
Amount		Rate			Date	Value
Asset-Backed Securities — (continued)
Home Equity(b) — 0.0%
Amresco Residential Securities Mortgage Loan Trust Series 1998-2, Class M1F
$	32,264		6.750	%	06/25/28	$	24,601
Centex Home Equity Series 2004-D, Class MV3
	179,974		1.186		09/25/34		40,060
Morgan Stanley ABS Capital I Series 2004-HE4, Class M3
	57,531		2.436		05/25/34		12,850
							77,511
Manufactured Housing — 0.0%
Lehman ABS Manufactured Housing Contract Series 2001-B, Class A3
	67,286		4.350		05/15/14		68,031
Student Loan — 5.8%
Access Group, Inc. Series 2002-1, Class A2(b)
	3,444,209		0.427		09/25/25		3,437,144
Brazos Higher Education Authority, Inc. Series 2005-3, Class A14(b)
	974,699		0.357		09/25/23		968,151
College Loan Corp. Trust Series 2004-1, Class A3(b)
	4,619,926		0.434		04/25/21		4,615,867
College Loan Corp. Trust Series 2005-1, Class A2(b)
	7,000,000		0.374		07/25/24		6,976,924
College Loan Corp. Trust Series 2005-2, Class A2(b)
	4,328,738		0.388		10/15/21		4,311,183
Collegiate Funding Services Education Loan Trust I Series 2003-A, Class A2(b)
	600,200		0.546		09/28/20		600,200
Education Funding Capital Trust I Series 2004-1, Class A2(b)
	1,643,781		0.407		12/15/22		1,628,146
Educational Services of America, Inc. Series 2010-1, Class A1(a)(b)
	2,293,491		1.124		07/25/23		2,297,511
GCO Slims Trust Series 2006-1A Class Note(a)
	135,997		5.720		03/01/22		108,253
Nelnet Student Loan Corp. Series 2004-2A, Class A3(b)
	525,146		0.357		11/25/15		524,913
Northstar Education Finance, Inc. Series 2004-1, Class A3(b)
	2,172,500		0.443		04/28/17		2,170,785
Northstar Education Finance, Inc. Series 2005-1, Class A1(b)
	578,923		0.373		10/28/26		574,431
SLM Student Loan Trust Series 2004-9, Class A4(b)
	1,670,946		0.404		04/25/17		1,670,435
SLM Student Loan Trust Series 2007-1, Class A3(b)
	6,225,513		0.304		07/25/18		6,213,287
SLM Student Loan Trust Series 2007-2, Class A2(b)
	4,208,675		0.274		07/25/17		4,178,620
SLM Student Loan Trust Series 2008-6, Class A1(b)
	611,577		0.674		10/27/14		611,757
Sun Trust Student Loan Trust Series 2006-1A, Class A2(a)(b)
	3,348,997		0.373		07/28/20		3,322,552
US Education Loan Trust LLC Series 2006-1, Class A2(a)(b)
	913,317		0.384		03/01/25		897,268
							45,107,427
TOTAL ASSET-BACKED SECURITIES						$	56,933,681
Foreign Debt Obligations — 4.5%
Sovereign — 3.2%
Kommunalbanken AS
$	11,900,000		5.125	%	05/30/12	$	12,400,716
Landeskreditbank Baden-Wuerttemberg Foerderbank(b)(e)
	5,600,000		0.535		11/04/11		5,598,089
Svensk Exportkredit AB(e)
	7,000,000		4.875		09/29/11		7,076,762
							25,075,567

Principal		Interest			Maturity
Amount		Rate			Date	Value
Foreign Debt Obligations — (continued)
Supranational(b) — 1.3%
European Investment Bank
$	6,250,000		0.552	%	03/05/12	$	6,265,287
Inter-American Development Bank
	4,100,000		0.710		05/20/14		4,150,053
							10,415,340
TOTAL FOREIGN DEBT OBLIGATIONS						$	35,490,907
Government Guarantee Obligations — 19.0%
Achmea Hypotheekbank NV(a)(b)(e)
$	8,200,000		0.623	%	11/03/14	$	8,159,828
ANZ National (International) Ltd.(a)(e)
	4,700,000		0.452	(b)	08/05/11		4,701,152
	5,800,000		3.250		04/02/12		5,924,677
Bank of America Corp.(b)(f)
	1,200,000		0.447		06/22/12		1,203,233
BRFkredit A/S(a)(b)(e)
	10,800,000		0.528		04/15/13		10,803,834
Danske Bank AS(a)(e)
	5,200,000		2.500		05/10/12		5,274,022
FIH Erhvervsbank AS(a)(e)
	5,500,000		2.450		08/17/12		5,616,182
	5,700,000		0.482	(b)	12/06/12		5,701,727
ING Bank NV(a)(e)
	9,500,000		1.068	(b)	02/09/12		9,545,372
	10,900,000		2.625		02/09/12		11,042,888
Kreditanstalt fuer Wiederaufbau(b)(e)
	15,800,000		0.195		06/17/13		15,790,804
Landwirtschaftliche Rentenbank(e)
	8,500,000		1.875		09/24/12		8,651,800
	2,400,000		4.125		07/15/13		2,562,961
	6,500,000		4.875		01/10/14		7,099,281
LeasePlan Corp. NV(a)(e)
	1,800,000		3.000		05/07/12		1,839,998
Royal Bank of Scotland PLC(a)(e)
	10,800,000		1.500		03/30/12		10,896,552
	2,700,000		0.964	(b)	05/11/12		2,713,862
OEBB Infrastruktur AG(e)
	5,100,000		4.625		11/21/13		5,485,172
Swedbank AB(e)
	6,000,000		3.000		12/22/11		6,071,028
	3,000,000	1.117(a)(b)			02/10/12		3,006,879
	9,900,000		2.800	(a)	02/10/12		10,042,966
Westpac Banking Corp.(a)(e)
	7,200,000		1.900		12/14/12		7,339,644
TOTAL GOVERNMENT GUARANTEE OBLIGATIONS						$	149,473,862

GOLDMAN SACHS ENHANCED INCOME FUND

Schedule of Investments (continued)

June 30, 2011 (Unaudited)

Principal		Interest			Maturity
Amount		Rate			Date	Value
U.S. Treasury Obligation — 0.5%
United States Treasury Inflation Protected Securities
$	3,626,740		3.000	%	07/15/12	$	3,787,114
TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENT						$	678,812,245
Short-term Investment(g) — 12.2%
Repurchase Agreement — 12.2%
Joint Repurchase Agreement Account II
$	96,000,000		0.077	%	07/01/11	$	96,000,000
TOTAL INVESTMENTS — 98.7%						$	774,812,245
OTHER ASSETS IN EXCESS OF LIABILITIES — 1.3%							10,534,175
NET ASSETS — 100.0%						$	785,346,420

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 $313,507,496, which represents approximately 39.9% of net assets as of June 30, 2011.

(b) Variable rate security. Interest rate disclosed is that which is in effect at June 30, 2011.

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

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

(e) Guaranteed by a foreign government until maturity. Total market value of these securities amounts to $148,270,629, which represents approximately 18.9% of net assets as of June 30, 2011.

(f) 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 $1,203,233, which represents approximately 0.1% of net assets as of June 30, 2011.

(g) Joint repurchase agreement was entered into on June 30, 2011. Additional information appears in the Notes to the Schedule of Investments section.

Investment Abbreviations:
FHLMC	— Federal Home Loan Mortgage Corp.
FNMA	— Federal National Mortgage Association
LIBOR	— London Interbank Offered Rate
MTN	— Medium Term Note

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 ENHANCED INCOME FUND

Schedule of Investments (continued)

June 30, 2011 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FUTURES CONTRACTS — At June 30, 2011, the following futures contracts were open:

	Number of
	Contracts			Expiration	Current			Unrealized
Type	Long (Short)			Date	Value			Gain (Loss)
Eurodollars		450		September 2011	$	112,111,875		$	104,183
Eurodollars		(68	)	December 2011		(16,928,600	)		(301,495	)
Eurodollars		(92	)	March 2012		(22,888,450	)		(464,830	)
Eurodollars		(122	)	June 2012		(30,312,425	)		(678,880	)
Eurodollars		(197	)	September 2012		(48,846,150	)		(616,030	)
Eurodollars		(181	)	December 2012		(44,765,825	)		(616,757	)
Eurodollars		(83	)	March 2013		(20,476,100	)		(64,512	)
Eurodollars		(116	)	June 2013		(28,540,350	)		(89,524	)
Eurodollars		(116	)	September 2013		(28,464,950	)		(88,374	)
2 Year U.S. Treasury Notes		180		September 2011		39,481,875			(12,472	)
5 Year U.S. Treasury Notes		(765	)	September 2011		(91,184,414	)		(350,834	)
TOTAL								$	(3,179,525	)

SWAP CONTRACTS — At June 30, 2011, the Fund had outstanding swap contracts with the following terms:

INTEREST RATE SWAP CONTRACTS

					Rates Exchanged									Upfront
	Notional				Payments			Payments						Payments
	Amount		Termination		Received by			Made by			Market			Made (Received)			Unrealized
Counterparty	(000s)(a)		Date		the Fund			the Fund			Value			by the Fund			Gain (Loss)
JPMorgan Securities, Inc.	$	21,400		06/30/13	3 month LIBOR				0.750	%	$	(347	)	$	(15,110	)	$	14,763
		18,500		12/21/13		1.250	%	3 month LIBOR				80,812			112,159			(31,347	)
		18,500		12/21/13	3 month LIBOR				1.250			(80,812	)		(117,300	)		36,488
TOTAL											$	(347	)	$	(20,251	)	$	19,904

(a) Represents forward starting interest rate swaps whose effective dates of commencement of accruals and cash flows occur subsequent to June 30, 2011.

CREDIT DEFAULT SWAP CONTRACTS

				Rates					Credit				Upfront
		Notional		Received					Spread at				Payments
	Referenced	Amount		(Paid) by			Termination		June 30, 2011		Market		Made (Received)			Unrealized
Counterparty	Obligation	(000s)		Fund			Date		(Basis Points)(b)		Value		by the Fund			Gain (Loss)
Protection Sold:
JPMorgan Securities, Inc.	Johnson & Johnson 3.80%,
	05/15/13	$	6,000		1.000	%		06/20/12		11	$	54,914	$	43,155		$	11,759
	Pacific Gas and Electric Co.
	4.80%, 03/01/14		4,850		1.000			06/20/13		62		37,469		(24,938	)		62,407
TOTAL											$	92,383	$	18,217		$	74,166

(b) Credit spread on the Referenced Obligation, together with the term of the swap contract, are indicators of payment/performance risk. The likelihood of a credit event occurring which would require a fund to make a payment or otherwise be required to perform under the swap contract is generally greater as the credit spread and the term of the swap contract increase.

GOLDMAN SACHS ENHANCED INCOME FUND

Schedule of Investments (continued)

June 30, 2011 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

TAX INFORMATION — At June 30, 2011, the Fund’s aggregate security unrealized gains and losses based on cost for U.S. federal income tax purposes were as follows:

Tax Cost	$	766,792,418
Gross unrealized gain		8,571,996
Gross unrealized loss		(552,169	)
Net unrealized security gain	$	8,019,827

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 GOVERNMENT INCOME FUND

Schedule of Investments

June 30, 2011 (Unaudited)

Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — 54.6%
Collateralized Mortgage Obligations — 6.0%
Adjustable Rate Non-Agency(a) — 0.6%
Adjustable Rate Mortgage Trust Series 2004-5, Class 2A1
$	72,588		2.801	%	04/25/35	$	64,672
Bear Stearns Adjustable Rate Mortgage Trust Series 2003-05, Class 1A1
	24,891		2.848		08/25/33		23,024
Chase Mortgage Finance Corp. Series 2007-A1, Class 3A1
	1,235,021		2.886		02/25/37		1,087,310
Chase Mortgage Finance Corp. Series 2007-A1, Class 7A1
	634,657		2.831		02/25/37		621,142
Countrywide Home Loan Mortgage Pass-Through Trust Series 2003-37, Class 1A1
	31,658		3.321		08/25/33		25,372
CS First Boston Mortgage Securities Corp. Series 2003-AR9, Class 2A2
	130,552		2.463		03/25/33		112,065
First Horizon Asset Securities, Inc. Series 2004-AR6, Class 2A1
	47,082		2.769		12/25/34		43,423
JPMorgan Mortgage Trust Series 2005-A4, Class 2A1
	385,693		2.773		07/25/35		340,314
MLCC Mortgage Investors, Inc. Series 2004-E, Class A2B
	1,126,912		0.820		11/25/29		955,651
Sequoia Mortgage Trust Series 2004-09, Class A2
	668,571		0.755		10/20/34		513,430
Structured Adjustable Rate Mortgage Loan Trust Series 2004-05, Class 1A
	204,674		2.692		05/25/34		181,397
Structured Adjustable Rate Mortgage Loan Trust Series 2004-12, Class 3A2
	69,274		2.561		09/25/34		59,669
Structured Asset Securities Corp. Series 2003-34A, Class 3A3
	769,924		2.581		11/25/33		713,043
Washington Mutual Mortgage Pass-Through Certificates Series 2004-AR03, Class A2
	172,502		2.577		06/25/34		162,853
							4,903,365
Interest Only(b) — 0.0%
CS First Boston Mortgage Securities Corp. Series 2003-AR18, Class 2X(a)(c)
	82,651		0.000		07/25/33		—
CS First Boston Mortgage Securities Corp. Series 2003-AR20, Class 2X(a)(c)
	100,623		0.000		08/25/33		—
FNMA REMIC Series 2004-47, Class EI(a)(c)
	1,403,873		0.000		06/25/34		22,924
FNMA REMIC Series 2004-62, Class DI(a)(c)
	578,301		0.000		07/25/33		6,891
FNMA REMIC Series 2004-71, Class DI(a)(c)
	1,204,984		0.000		04/25/34		15,023
FNMA STRIPS Series 151, Class 2
	11,373		9.500		07/25/22		2,014
Master Adjustable Rate Mortgages Trust Series 2003-2, Class 3AX(a)
	39,887		0.123		08/25/33		177
Master Adjustable Rate Mortgages Trust Series 2003-2, Class 4AX(a)
	15,794		0.320		07/25/33		184
							47,213

Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
Inverse Floaters(a) — 0.0%
GNMA Series 2001-48, Class SA
$	42,735		25.884	%	10/16/31	$	64,377
GNMA Series 2001-51, Class SA
	33,478		31.696		10/16/31		53,081
GNMA Series 2001-51, Class SB
	42,011		25.884		10/16/31		64,991
GNMA Series 2002-13, Class SB
	147,119		36.701		02/16/32		248,609
							431,058
Principal Only(d) — 0.0%
FNMA REMIC Series G-35, Class N
	11,714		0.000		10/25/21		11,122
Regular Floater(a) — 3.4%
FDIC Structured Sale Guaranteed Notes Series 2010-S1, Class 1A(e)
	701,361		0.736		02/25/48		700,599
FHLMC REMIC Series 1760, Class ZB
	328,478		2.390		05/15/24		357,864
NCUA Guaranteed Notes Series 2010-A1, Class A
	1,910,618		0.535		12/07/20		1,914,219
NCUA Guaranteed Notes Series 2010-R2, Class 1A
	1,854,975		0.555		11/06/17		1,856,714
NCUA Guaranteed Notes Series 2011-R1, Class 1A
	2,565,049		0.635		01/08/20		2,568,957
NCUA Guaranteed Notes Series 2011-R2, Class 1A
	4,587,532		0.585		02/06/20		4,591,653
NCUA Guaranteed Notes Series 2011-R3, Class 1A
	3,398,832		0.585		03/11/20		3,404,408
NCUA Guaranteed Notes Series 2011-R4, Class 1A
	3,731,180		0.565		03/06/20		3,733,803
NCUA Guaranteed Notes Series 2011-R5, Class 1A
	3,812,165		0.565		04/06/20		3,814,994
NCUA Guaranteed Notes Series 2011-R6, Class 1A
	3,689,788		0.565		05/07/20		3,692,670
NCUA Guaranteed Notes Series-A1
	2,300,000		0.206		06/12/13		2,300,000
							28,935,881
Sequential Fixed Rate — 1.9%
FHLMC REMIC Series 2329, Class ZA
	1,982,389		6.500		06/15/31		2,247,075
FHLMC REMIC Series 2590, Class NV
	2,000,000		5.000		03/15/18		2,171,391
FNMA REMIC Series 2001-53, Class GH
	220,197		8.000		09/25/16		242,028
GNMA Series 2002-42 Class KZ
	5,221,188		6.000		06/16/32		5,899,218
NCUA Guaranteed Notes Series 2010-R1, Class 2A
	591,420		1.840		10/07/20		596,965
NCUA Guaranteed Notes Series A4
	5,000,000		3.000		06/12/19		4,943,016
							16,099,693
Sequential Floating Rate(a) — 0.1%
NCUA Guaranteed Notes Series 2010-R1, Class 1A
	1,249,471		0.635		10/07/20		1,252,302
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS						$	51,680,634

GOLDMAN SACHS GOVERNMENT INCOME FUND

Schedule of Investments (continued)

June 30, 2011 (Unaudited)

Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
Commercial Mortgage-Backed Securities — 1.3%
Sequential Fixed Rate — 0.8%
GMAC Commercial Mortgage Securities, Inc. Series 2002-C1, Class A2
$	4,365,711		6.278	%	11/15/39	$	4,395,579
LB-UBS Commercial Mortgage Trust Series 2007-C1, Class A4
	2,000,000		5.424		02/15/40		2,153,745
							6,549,324
Sequential Floating Rate(a) — 0.5%
LB-UBS Commercial Mortgage Trust Series 2007-C7, Class A3
	4,400,000		5.866		09/15/45		4,784,987
TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES						$	11,334,311
Federal Agencies — 47.3%
Adjustable Rate FHLMC(a) — 0.6%
	205,791		2.474		11/01/32		215,310
	2,327,484		2.580		09/01/33		2,438,183
	2,178,623		2.567		08/01/35		2,282,990
							4,936,483
Adjustable Rate FNMA(a) — 1.4%
	206,289		2.356		11/01/32		214,419
	433,826		2.285		12/01/32		450,395
	2,570,603		1.926		05/01/33		2,650,536
	61,463		2.489		06/01/33		64,324
	1,892,511		2.589		10/01/33		1,971,497
	2,437,268		2.446		02/01/35		2,550,908
	1,913,840		2.652		09/01/35		1,985,879
	1,989,499		5.229		06/01/37		2,121,304
							12,009,262
Adjustable Rate GNMA(a) — 0.7%
	127,809		3.375		06/20/23		131,397
	58,576		2.625		07/20/23		60,025
	61,263		2.625		08/20/23		62,785
	158,402		2.625		09/20/23		162,354
	46,902		2.375		03/20/24		48,229
	406,078		3.375		04/20/24		417,974
	49,774		3.375		05/20/24		51,222
	428,967		3.375		06/20/24		442,238
	230,384		2.625		07/20/24		237,540
	312,815		2.625		08/20/24		322,012
	99,494		2.625		09/20/24		102,104
	120,537		2.125		11/20/24		124,901
	45,838		2.125		12/20/24		47,504
	63,642		2.500		12/20/24		67,212
	81,687		2.375		01/20/25		84,806
	41,646		2.375		02/20/25		43,245
	144,213		3.375		05/20/25		149,634
	109,728		2.625		07/20/25		114,021
	55,270		2.375		02/20/26		57,029
	2,957		2.625		07/20/26		3,041
	151,031		2.375		01/20/27		156,594
	54,990		2.375		02/20/27		56,803
	418,878		3.375		04/20/27		432,253
	47,264		3.375		05/20/27		48,777
	43,886		3.375		06/20/27		45,294
	17,271		2.125		11/20/27		17,824
	68,795		2.125		12/20/27		70,896
	132,708		2.375		01/20/28		137,033
	45,304		2.250		02/20/28		46,768
	49,626		2.375		03/20/28		51,251
	246,481		2.625		07/20/29		254,182
	104,745		2.625		08/20/29		108,024

Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
Adjustable Rate GNMA(a) — (continued)
$	30,381		2.625	%	09/20/29	$	31,334
	130,577		2.125		10/20/29		134,737
	156,850		2.125		11/20/29		161,858
	39,649		2.125		12/20/29		40,934
	48,895		2.250		01/20/30		50,541
	27,118		2.250		02/20/30		28,034
	114,187		2.250		03/20/30		118,216
	149,477		3.375		04/20/30		154,575
	394,234		3.375		05/20/30		409,425
	32,695		3.375		06/20/30		33,812
	314,008		2.625		07/20/30		327,912
	57,884		2.625		09/20/30		60,587
	114,514		1.875		10/20/30		118,344
	218,623		2.000		03/20/32		225,900
							6,051,181
FHLMC — 4.9%
	171,070		6.500		12/01/13		175,717
	3,587		6.500		02/01/14		3,701
	1,285,571		7.500		11/01/14		1,404,536
	2,318		7.000		02/01/15		2,486
	53,573		8.000		07/01/15		58,871
	9,043		7.000		01/01/16		9,827
	26,656		7.000		09/01/17		30,371
	12,726		7.000		10/01/17		14,486
	157,997		5.500		05/01/18		170,896
	1,291,444		5.500		06/01/18		1,397,428
	48,309		4.500		09/01/18		51,529
	15,948		10.000		10/01/18		17,122
	292,479		5.000		06/01/19		315,054
	52,704		10.000		07/01/20		57,309
	70,175		10.000		10/01/20		83,815
	133,305		6.500		07/01/21		150,316
	10,279		6.500		08/01/22		11,590
	127,960		9.000		10/01/22		152,972
	753,688		4.500		10/01/23		800,714
	458,766		6.500		07/01/28		497,506
	5,096		8.000		07/01/30		5,745
	30,378		7.500		12/01/30		34,236
	121,973		7.000		04/01/31		138,076
	1,152,701		6.000		05/01/33		1,279,588
	1,004,865		6.000		10/01/34		1,109,105
	2,378,799		4.500		10/01/35		2,477,628
	145,991		5.000		12/01/35		155,571
	555,957		5.500		01/01/36		603,300
	1,179		5.500		02/01/36		1,278
	16,551		6.000		06/01/36		18,242
	136,576		5.500		02/01/38		147,569
	784,973		5.500		10/01/38		848,154
	10,411,445		6.000		11/01/38		11,549,383
	396,881		5.500		12/01/38		428,826
	93,563		5.500		02/01/39		101,094
	3,985,006		4.500		09/01/39		4,151,808
	2,371,367		5.500		01/01/40		2,562,234
	56,540		4.000		08/01/40		56,698
	151,165		4.000		09/01/40		151,589
	34,754		4.000		10/01/40		34,851
	219,723		4.000		11/01/40		220,339
	3,294,717		4.000		12/01/40		3,303,950
	7,000,000		5.000		TBA — 30yr(f)		7,425,468
							42,210,978

GOLDMAN SACHS GOVERNMENT INCOME FUND

Schedule of Investments (continued)

June 30, 2011 (Unaudited)

Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
FNMA — 34.0%
$	20,938		7.000	%	03/01/14	$	22,382
	40,045		7.000		03/01/15		42,875
	12,551		8.000		01/01/16		13,768
	203,045		8.000		11/01/16		224,911
	337,359		5.000		08/01/17		357,951
	2,388,754		2.800		03/01/18		2,355,622
	1,997,998		3.740		05/01/18		2,071,128
	1,690,000		3.840		05/01/18		1,744,367
	116,014		4.500		05/01/18		123,500
	255,447		4.500		06/01/18		271,901
	54,631		4.500		07/01/18		58,188
	77,865		4.500		08/01/18		82,985
	653,531		5.000		09/01/18		701,768
	3,558,688		5.000		10/01/18		3,821,737
	4,400,000		4.506		06/01/19		4,651,451
	197,795		6.500		08/01/19		224,109
	21,359		9.500		08/01/20		21,479
	996,334		3.416		10/01/20		977,656
	2,800,000		3.540		10/01/20		2,754,444
	21,342		9.500		10/01/20		21,696
	1,394,723		3.375		11/01/20		1,363,642
	697,517		3.632		12/01/20		692,893
	5,273,231		3.763		12/01/20		5,290,770
	1,254,704		5.500		02/01/23		1,373,751
	1,936,358		5.500		08/01/23		2,120,080
	487,718		6.000		11/01/28		539,995
	18,626		6.500		11/01/28		21,225
	1,278		5.500		04/01/29		1,394
	47,801		7.000		11/01/30		54,558
	162,941		7.000		07/01/31		185,568
	642		6.000		03/01/32		710
	14,267,075		5.500		04/01/33		15,518,787
	22,614		6.000		05/01/33		25,000
	19,102		5.000		07/01/33		20,399
	3,580,547		5.500		07/01/33		3,879,984
	190,167		5.000		08/01/33		203,050
	3,086,673		4.500		09/01/33		3,222,447
	18,667		5.000		09/01/33		19,932
	21,478		5.500		09/01/33		23,359
	19,151		5.000		11/01/33		20,450
	12,221		5.000		12/01/33		13,050
	12,972		6.000		12/01/33		14,403
	11,584		5.000		01/01/34		12,370
	29,203		5.500		02/01/34		31,756
	4,640		5.500		04/01/34		5,046
	23,358		5.500		05/01/34		25,396
	955		5.500		06/01/34		1,038
	35,822		5.500		08/01/34		38,954
	2,101		5.500		10/01/34		2,284
	277,464		5.500		12/01/34		301,633
	12,507		5.000		03/01/35		13,347
	26,486		5.000		04/01/35		28,265
	34,322		5.500		04/01/35		37,301
	1,000,303		6.000		04/01/35		1,105,855
	17,352		5.000		05/01/35		18,509
	198,893		5.000		07/01/35		212,209
	33,551		5.500		07/01/35		36,463
	640,415		5.000		08/01/35		683,425
	3,870		5.500		08/01/35		4,206
	2,179		6.000		08/01/35		2,401
	147,774		5.000		09/01/35		157,703
	37,132		5.500		09/01/35		40,343
	52,311		5.000		10/01/35		55,826
	427,898		6.000		10/01/35		472,847

Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations –(continued)
FNMA — (continued)
$	63,264		5.000	%	11/01/35	$	67,514
	329,958		6.000		11/01/35		363,558
	17,880		5.500		12/01/35		19,437
	804		5.500		02/01/36		873
	246,757		6.000		03/01/36		272,088
	350,049		6.000		04/01/36		385,984
	29,754		5.000		07/01/36		31,753
	307,057		6.000		11/01/36		337,980
	260,131		6.000		01/01/37		286,328
	3,777		5.500		02/01/37		4,108
	91,992		5.500		04/01/37		100,090
	6,765		5.500		05/01/37		7,354
	2,893		5.500		06/01/37		3,145
	323		5.500		08/01/37		351
	1,200,392		7.500		11/01/37		1,380,166
	1,398		5.500		12/01/37		1,520
	3,175		5.500		02/01/38		3,452
	49,777		5.500		03/01/38		54,113
	122,888		5.500		04/01/38		133,631
	37,079		5.500		05/01/38		40,331
	1,960,644		6.000		05/01/38		2,157,144
	10,119		5.500		06/01/38		11,000
	12,695		5.500		07/01/38		13,801
	11,651		5.500		08/01/38		12,663
	8,924		5.500		09/01/38		9,699
	4,880,205		6.000		11/01/38		5,369,308
	4,070		5.500		12/01/38		4,424
	45,642		5.500		02/01/39		49,675
	189,997		4.000		03/01/39		190,551
	39,701		4.500		05/01/39		41,329
	31,714		4.500		07/01/39		33,074
	620,365		4.500		08/01/39		646,741
	115,115		5.500		08/01/39		125,204
	499,762		4.500		09/01/39		521,198
	383,757		4.500		10/01/39		400,208
	178,459		4.500		11/01/39		185,750
	2,654,017		4.500		12/01/39		2,764,938
	47,679		4.000		02/01/40		47,818
	245,440		4.000		03/01/40		245,852
	939,194		3.500		09/01/40		899,297
	728,478		3.500		12/01/40		697,532
	2,990,410		3.500		01/01/41		2,863,377
	37,885,705		3.500		02/01/41		36,276,326
	17,265,265		3.500		03/01/41		16,531,854
	991,474		5.000		04/01/41		1,055,460
	38,000,000		3.500		TBA — 15yr(f)		38,688,750
	42,000,000		4.000		TBA — 30yr(f)		42,000,000
	5,000,000		4.500		TBA — 15yr(f)		5,300,781
	15,000,000		4.500		TBA — 30yr(f)		15,519,141
	41,000,000		5.000		TBA — 30yr(f)		43,556,096
	2,000,000		5.500		TBA — 30yr(f)		2,163,281
	12,000,000		6.000		TBA — 30yr(f)		13,186,874
							293,499,464
GNMA — 5.7%
	183		9.000		08/15/16		208
	775,763		3.950		07/15/25		801,050
	193,074		7.000		12/15/27		220,511
	21,085		6.500		08/15/28		24,075
	347,318		6.000		01/15/29		390,346
	273,474		7.000		10/15/29		312,414
	3,203,855		5.500		12/15/32		3,549,496
	7,475,570		5.000		05/15/33		8,155,608
	4,693,622		5.000		06/15/33		5,120,591
	15,440,046		5.000		07/15/33		16,844,598

GOLDMAN SACHS GOVERNMENT INCOME FUND

Schedule of Investments (continued)

June 30, 2011 (Unaudited)

Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
GNMA — (continued)
$	1,868,578		5.000	%	09/15/33	$	2,038,559
	3,001,348		5.000		03/15/34		3,271,507
	1,804,839		5.500		06/15/34		1,998,785
	13,872		5.000		05/15/39		15,133
	90,165		4.500		06/15/39		95,451
	83,739		5.000		07/15/39		91,223
	92,261		4.500		10/15/39		97,671
	980,869		3.500		01/15/41		954,147
	5,000,000		4.500		TBA — 30yr(f)		5,276,953
							49,258,326
TOTAL FEDERAL AGENCIES						$	407,965,694
TOTAL MORTGAGE-BACKED OBLIGATIONS						$	470,980,639
Agency Debentures — 11.7%
FFCB
$	9,000,000		4.750	%	11/06/12	$	9,527,103
FHLB
	10,000,000		5.375	(g)	06/13/14		11,254,488
	4,700,000		5.375		05/15/19		5,431,781
	2,900,000		5.625		06/11/21		3,391,299
FHLMC
	13,200,000		1.375		02/25/14		13,374,534
	42,300,000		1.000		07/30/14		42,248,859
	5,100,000		5.050		01/26/15		5,744,613
New Valley Generation III
	3,342,856		4.929		01/15/21		3,746,004
Small Business Administration
	154,939		6.700		12/01/16		165,811
	113,983		7.150		03/01/17		123,554
	83,285		7.500		04/01/17		90,826
	40,427		7.300		05/01/17		44,203
	41,723		6.800		08/01/17		45,381
	128,611		6.300		05/01/18		140,945
	71,609		6.300		06/01/18		78,606
Tennessee Valley Authority
	700,000		4.625		09/15/60		657,931
Tennessee Valley Authority Series B
	4,200,000		4.375		06/15/15		4,654,259
TOTAL AGENCY DEBENTURES						$	100,720,197
Asset-Backed Securities — 2.6%
Home Equity(a) — 0.3%
Bear Stearns Adjustable Rate Mortgage Trust Series 2004-1, Class 21A1
$	83,147		2.475	%	04/25/34	$	73,036
Citigroup Mortgage Loan Trust, Inc. Series 2004-OPT1, Class A2
	453,527		0.546		10/25/34		398,102
Household Home Equity Loan Trust Series 2007-3, Class APT
	2,379,406		1.386		11/20/36		2,110,259
Securitized Asset Backed Receivables LLC Trust Series 2004-OP2, Class A2
	21,324		0.536		08/25/34		17,388
							2,598,785
Manufactured Housing — 0.0%
Mid-State Trust Series 4, Class A
	130,797		8.330		04/01/30		131,734

Principal		Interest			Maturity
Amount		Rate			Date	Value
Asset-Backed Securities — (continued)
Student Loan(a) — 2.3%
Brazos Higher Education Authority, Inc. Series 2005-3, Class A14
$	905,077		0.357	%	09/25/23	$	898,997
Brazos Higher Education Authority, Inc. Series 2011-1, Class A2
	4,500,000		1.057		02/25/30		4,441,694
Brazos Higher Education Authority, Inc. Series 2011-2 Class A2
	4,400,000		1.097		07/25/29		4,355,974
Education Funding Capital Trust I Series 2004-1, Class A2
	1,315,025		0.407		12/15/22		1,302,517
Goal Capital Funding Trust Series 2010-1, Class A(e)
	1,610,830		0.957		08/25/48		1,592,580
Knowledgeworks Foundation Student Loan Series 2010-1, Class A
	1,224,317		1.207		02/25/42		1,207,621
Missouri Higher Education Loan Authority Series 2010-1, Class A1
	2,964,610		1.207		11/26/32		2,971,652
Nelnet Student Loan Trust Series 2010-3A, Class A(e)
	1,456,871		1.054		07/27/48		1,458,257
Northstar Education Finance, Inc. Series 2005-1, Class A1
	496,220		0.373		10/28/26		492,369
US Education Loan Trust LLC Series 2006-1, Class A2(e)
	873,607		0.384		03/01/25		858,257
							19,579,918
TOTAL ASSET-BACKED SECURITIES						$	22,310,437
Government Guarantee Obligations(h) — 12.3%
Ally Financial, Inc.
$	12,000,000		1.750	%	10/30/12	$	12,213,777
	20,000,000		2.200		12/19/12		20,514,660
Citigroup Funding, Inc.
	20,700,000		1.875		10/22/12		21,104,323
	8,000,000		1.875		11/15/12		8,160,837
General Electric Capital Corp.
	12,900,000		2.000		09/28/12		13,161,851
	14,500,000		0.247	(a)	12/21/12		14,511,919
	9,100,000		2.125		12/21/12		9,324,860
Private Export Funding Corp.
	7,000,000		3.550		04/15/13		7,363,517
TOTAL GOVERNMENT GUARANTEE OBLIGATIONS						$	106,355,744
U.S. Treasury Obligations — 17.0%
United States Treasury Bonds
$	6,400,000		6.500	%	11/15/26	$	8,361,280
	6,300,000		6.625		02/15/27		8,334,705
	900,000		5.000		05/15/37		999,855
	2,400,000		4.250		05/15/39		2,355,216
	5,400,000		4.375		11/15/39		5,404,050
	6,000,000		4.375		05/15/40		5,998,200
	6,300,000		4.250		11/15/40		6,158,943
	1,900,000		4.750		02/15/41		2,019,871
United States Treasury Inflation Protected Securities
	3,001,440		3.000		07/15/12		3,134,164
	3,345,030		2.375		01/15/27		3,814,371
United States Treasury Notes
	45,000,000		1.000		04/30/12		45,297,452
	4,200,000		2.125		02/29/16		4,299,666
	4,600,000		2.000		04/30/16		4,669,138
	39,850,000		3.625		02/15/21		41,551,995
United States Treasury Principal-Only STRIPS(d)
	6,600,000		0.000		05/15/21		4,724,082
TOTAL U.S. TREASURY OBLIGATIONS						$	147,122,988

GOLDMAN SACHS GOVERNMENT INCOME FUND

Schedule of Investments (continued)

June 30, 2011 (Unaudited)

Principal		Interest			Maturity
Amount		Rate			Date	Value
Municipal Debt Obligation — 0.3%
New Jersey — 0.3%
New Jersey Economic Development Authority Series A (MBIA)
$	2,000,000		7.425	%	02/15/29	$	2,227,700
TOTAL MUNICIPAL DEBT OBLIGATIONS						$	2,227,700

		Exercise			Expiration
Contracts		Rate			Date	Value
Options Purchased — 0.4%
Interest Rate Swaptions
Citibank NA Put - OTC — 5 year Interest Rate Swap Strike Price 2.605
$	18,000,000		2.605	%	02/21/12	$	333,434
Citibank NA Call - OTC — 5 year Interest Rate Swap Strike Price 2.605
	18,000,000		2.605		02/21/12		257,605
Citibank NA Put - OTC — 5 year Interest Rate Swap Strike Price 2.675
	18,000,000		2.675		02/21/12		370,481
Citibank NA Call - OTC — 5 year Interest Rate Swap Strike Price 2.675
	18,000,000		2.675		02/21/12		234,909
Citibank NA Put - OTC — 10 year Interest Rate Swap Strike Price 3.595
	12,600,000		3.595		02/24/12		387,235
Citibank NA Call - OTC — 10 year Interest Rate Swap Strike Price 3.595
	12,600,000		3.595		02/24/12		373,777
Citibank NA Put - OTC — 10 year Interest Rate Swap Strike Price 3.560
	6,600,000		3.560		06/15/12		194,499
Citibank NA Call - OTC — 10 year Interest Rate Swap Strike Price 3.560
	6,600,000		3.560		06/15/12		291,300
Deutsche Bank Securities, Inc. Put - OTC — 30 year Interest Rate Swap Strike Price 4.080
	4,000,000		4.080		06/25/12		216,008
Deutsche Bank Securities, Inc. Call - OTC — 30 year Interest Rate Swap Strike Price 4.080
	4,000,000		4.080		06/25/12		357,893
Morgan Stanley Capital Services, Inc. Put - OTC — 30 year Interest Rate Swap Strike Price 4.260
	7,000,000		4.260		02/21/12		430,544
Morgan Stanley Capital Services, Inc. Call - OTC — 30 year Interest Rate Swap Strike Price 4.260
	7,000,000		4.260		02/21/12		373,354
TOTAL OPTIONS PURCHASED						$	3,821,039
TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENT						$	853,538,744

Principal		Interest			Maturity
Amount		Rate			Date	Value
Short-term Investment(i) — 21.6%
Repurchase Agreement — 21.6%
Joint Repurchase Agreement Account II
$	186,500,000		0.077	%	07/01/11	$	186,500,000
TOTAL INVESTMENTS — 120.5%						$	1,040,038,744
LIABILITIES IN EXCESS OF OTHER ASSETS — (20.5)%							(176,584,876	)
NET ASSETS — 100.0%						$	863,453,868

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 June 30, 2011.

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

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

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

(e) 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 $4,609,693, which represents approximately 0.5% of net assets as of June 30, 2011.

(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 $173,117,344 which represents approximately 20.0% of net assets as of June 30, 2011.

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

(h) 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.

(i) Joint repurchase agreement was entered into on June 30, 2011. Additional information appears in the Notes to the Schedule of Investments section.

Investment Abbreviations:
FDIC	— Federal Deposit Insurance Corp.
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
MBIA	— Insured by Municipal Bond Investors Insurance
NCUA	— National Credit Union Administration
OTC	— Over the Counter
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 GOVERNMENT INCOME FUND

Schedule of Investments (continued)

June 30, 2011 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FORWARD SALES CONTRACTS — At June 30, 2011, the Fund had the following forward sales contracts:

	Interest			Maturity	Settlement		Principal
Description	Rate			Date(f)	Date		Amount			Value
FHLMC		5.500	%	TBA — 30yr		07/14/11	$	(4,000,000	)	$	(4,320,625	)
FNMA		3.500		TBA — 30yr		08/11/11		(14,000,000	)		(13,353,593	)
FNMA		3.500		TBA — 30yr		07/14/11		(35,000,000	)		(33,476,954	)
TOTAL (Proceeds Receivable: $51,711,367)										$	(51,151,172	)

FUTURES CONTRACTS — At June 30, 2011, the following futures contracts were open:

	Number of
	Contracts			Expiration	Current			Unrealized
Type	Long (Short)			Date	Value			Gain (Loss)
Eurodollars		8		September 2011	$	1,993,100		$	82
Eurodollars		8		December 2011		1,991,600			82
Eurodollars		8		March 2012		1,990,300			(118	)
Eurodollars		8		June 2012		1,987,700			(918	)
Eurodollars		8		September 2012		1,983,600			(2,118	)
Eurodollars		8		December 2012		1,978,600			(3,018	)
Eurodollars		8		March 2013		1,973,600			(4,018	)
Eurodollars		8		June 2013		1,968,300			(4,618	)
Ultra Long U.S. Treasury Bonds		147		September 2011		18,558,750			(256,473	)
2 Year U.S. Treasury Notes		499		September 2011		109,452,531			(67,900	)
5 Year U.S. Treasury Notes		316		September 2011		37,665,719			(305,708	)
10 Year U.S. Treasury Notes		443		September 2011		54,191,360			(310,281	)
30 Year U.S. Treasury Bonds		(196	)	September 2011		(24,114,125	)		365,533
TOTAL								$	(589,473	)

INTEREST RATE SWAP CONTRACTS

						Rates Exchanged									Upfront
	Notional					Payments			Payments						Payments
	Amount			Termination		Received by			Made by			Market			Made (Received)			Unrealized
Counterparty	(000s)			Date		the Fund			the Fund			Value			by the Fund			Gain (Loss)
Bank of America Securities LLC	$	17,500	(a)		11/23/14	3 month LIBOR				2.116	%	$	(74,150	)	$	—		$	(74,150	)
		15,600	(a)		11/23/19		3.587	%	3 month LIBOR				39,801			—			39,801
		5,200	(a)		07/01/24		4.479		3 month LIBOR				(28,379	)		—			(28,379	)
		5,600	(a)		11/23/27	3 month LIBOR				4.206			18,354			—			18,354
		1,500	(a)		05/15/37	3 month LIBOR				3.962			32,150			—			32,150
		2,900	(a)		07/01/44	3 month LIBOR				4.595			21,415			—			21,415
Deutsche Bank Securities, Inc.		9,700	(a)		12/21/16		2.500		3 month LIBOR				56,535			191,730			(135,195	)
		3,600			10/20/20		2.560		3 month LIBOR				(160,279	)		—			(160,279	)
JPMorgan Securities, Inc.		39,500	(a)		06/30/13	3 month LIBOR				0.750			(641	)		(23,950	)		23,309
Morgan Stanley Capital Services, Inc.		43,600	(a)		06/30/13	3 month LIBOR				0.750			(707	)		(26,605	)		25,898
		37,600			12/21/13		1.250		3 month LIBOR				164,244			222,686			(58,442	)
		37,600	(a)		12/21/13	3 month LIBOR				1.250			(164,244	)		(219,020	)		54,776
		16,400	(a)		12/21/18	3 month LIBOR				3.250			(298,642	)		(500,173	)		201,531
		4,600	(a)		04/08/24		4.820		3 month LIBOR				124,358			—			124,358
		9,000	(a)		07/01/24		4.440		3 month LIBOR				(76,440	)		—			(76,440	)
		2,600	(a)		04/08/44	3 month LIBOR				4.845			(95,496	)		—			(95,496	)
		5,000	(a)		07/01/44	3 month LIBOR				4.560			63,982			—			63,982
TOTAL												$	(378,139	)	$	(355,332	)	$	(22,807	)

(a) Represents forward starting interest rate swaps whose effective dates of commencement of accruals and cash flows occur subsequent to June 30, 2011.

GOLDMAN SACHS GOVERNMENT INCOME FUND

Schedule of Investments (continued)

June 30, 2011 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

WRITTEN OPTIONS CONTRACTS — For the period ended June 30, 2011, the Fund had the following written swaptions activity:

	Notional
	Amount			Premiums
	(000s)			Received
Contracts Outstanding March 31, 2011	$	30,000		$	(326,625	)
Contracts Written		99,800			(941,815	)
Contracts Bought to Close		(72,400	)		720,658
Contracts Expired		(57,400	)		547,782
Contracts Outstanding June 30, 2011	$	—		$	—

TAX INFORMATION — At June 30, 2011, the Fund’s aggregate security unrealized gains and losses based on cost for U.S. federal income tax purposes were as follows:

Tax Cost	$	1,024,232,222
Gross unrealized gain		18,785,081
Gross unrealized loss		(2,978,559	)
Net unrealized security gain	$	15,806,522

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 INFLATION PROTECTED SECURITIES FUND

Schedule of Investments

June 30, 2011 (Unaudited)

Principal		Interest			Maturity
Amount		Rate			Date	Value
Corporate Obligations(a) — 1.4%
Banks — 1.4%
Cie de Financement Foncier
$	1,600,000		2.125	%	04/22/13	$	1,623,862
DnB NOR Boligkreditt
	200,000		2.100		10/14/15		197,659
	1,300,000		2.900		03/29/16		1,323,213
TOTAL CORPORATE OBLIGATIONS						$	3,144,734
Government Guarantee Obligation(a)(b) — 0.5%
ING Bank NV
$	1,200,000		2.500	%	01/14/16	$	1,178,939
U.S. Treasury Obligations — 94.4%
United States Treasury Inflation Protected Securities
$	19,759,480		3.000	%	07/15/12	$	20,633,244
	35,429,130		2.000		07/15/14		38,706,325
	7,055,612		0.500		04/15/15		7,368,740
	226,582		2.000		01/15/16		252,072
	20,264,426		2.500		07/15/16		23,199,525
	8,808,579		2.375		01/15/17		10,059,661
	11,687,915		1.875		07/15/19		13,088,595
	8,840,026		1.125		01/15/21		9,197,782
	12,525,450		2.375		01/15/25		14,419,924
	2,492,402		2.000	(c)	01/15/26		2,728,408
	47,611,887		2.375		01/15/27		54,292,311
	10,982,896		3.625		04/15/28		14,478,532
	1,504,591		3.875		04/15/29		2,061,997
	1,872,612		2.125		02/15/40		2,043,787
	6,006,722		2.125		02/15/41		6,552,973
TOTAL U.S. TREASURY OBLIGATIONS						$	219,083,876

		Exercise			Expiration
Contracts		Rate			Date	Value
Options Purchased — 0.3%
Interest Rate Swaptions
Citibank NA Put - OTC — 5 year Interest Rate Swap Strike Price 2.605
$	16,200,000		2.605	%	02/21/12	$	103,735
Citibank NA Call - OTC — 5 year Interest Rate Swap Strike Price 2.605
	16,200,000		2.605		02/21/12		80,144
Citibank NA Put - OTC — 5 year Interest Rate Swap Strike Price 2.675
	16,200,000		2.675		02/21/12		115,261
Citibank NA Call - OTC — 5 year Interest Rate Swap Strike Price 2.675
	16,200,000		2.675		02/21/12		73,083
Citibank NA Put - OTC — 10 year Interest Rate Swap Strike Price 3.595
	11,300,000		3.595		02/24/12		119,858
Citibank NA Call - OTC — 10 year Interest Rate Swap Strike Price 3.595
	11,300,000		3.595		02/24/12		115,693
Citibank NA Put - OTC — 10 year Interest Rate Swap Strike Price 3.560
	5,500,000		3.560		06/15/12		64,833
Citibank NA Call - OTC — 10 year Interest Rate Swap Strike Price 3.560
	5,500,000		3.560		06/15/12		97,100
TOTAL OPTIONS PURCHASED — 0.3%						$	769,707
TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENT						$	224,177,256

Principal		Interest			Maturity
Amount		Rate			Date	Value
Short-term Investment(d) — 1.1%
Repurchase Agreement — 1.1%
Joint Repurchase Agreement Account II
$	2,500,000		0.077	%	07/01/11	$	2,500,000
TOTAL INVESTMENTS — 97.7%						$	226,677,256
OTHER ASSETS IN EXCESS OF LIABILITIES — 2.3%							5,314,674
NET ASSETS — 100.0%						$	231,991,930

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 $4,323,673, which represents approximately 1.9% of net assets as of June 30, 2011.

(b) Guaranteed by a foreign government until maturity.

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

(d) Joint repurchase agreement was entered into on June 30, 2011. Additional information appears in the Notes to the Schedule of Investments section.

Investment Abbreviations:
LIBOR	— London Interbank Offered Rate
OTC	— Over the Counter

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 INFLATION PROTECTED SECURITIES FUND

Schedule of Investments (continued)

June 30, 2011 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FUTURES CONTRACTS — At June 30, 2011, the following futures contracts were open:

	Number of
	Contracts			Expiration	Current			Unrealized
Type	Long (Short)			Date	Value			Gain (Loss)
Eurodollars		(30	)	September 2011	$	(7,474,125	)	$	(16,192	)
Eurodollars		(15	)	December 2011		(3,734,250	)		(21,534	)
Eurodollars		(15	)	March 2012		(3,731,812	)		(26,159	)
Ultra Long U.S. Treasury Bonds		37		September 2011		4,671,250			(89,522	)
2 Year U.S. Treasury Notes		131		September 2011		28,734,031			9,860
5 Year U.S. Treasury Notes		(66	)	September 2011		(7,866,891	)		35,801
10 Year U.S. Treasury Notes		97		September 2011		11,865,828			(90,921	)
30 Year U.S. Treasury Bonds		(105	)	September 2011		(12,918,281	)		133,270
TOTAL								$	(65,397	)

SWAP CONTRACTS — At June 30, 2011, the Fund had outstanding swap contracts with the following terms:

INTEREST RATE SWAP CONTRACTS

					Rates Exchanged
	Notional				Payments			Payments						Upfront Payments
	Amount		Termination		Received by			Made by			Market			Made (Received)			Unrealized
Counterparty	(000s)(a)		Date		the Fund			the Fund			Value			by the Fund			Gain (Loss)
JPMorgan Securities, Inc.	$	5,800		06/30/13	3 month LIBOR				0.750	%	$	(94	)	$	(3,517	)	$	3,423
Morgan Stanley Capital Services, Inc.		6,400		06/30/13	3 month LIBOR				0.750			(104	)		(3,905	)		3,801
		5,500		12/21/13		1.250	%	3 month LIBOR				24,025			32,574			(8,549	)
		5,500		12/21/13	3 month LIBOR				1.250			(24,025	)		(32,038	)		8,013
TOTAL											$	(198	)	$	(6,886	)	$	6,688

(a) Represents forward starting interest rate swaps whose effective dates of commencement of accruals and cash flows occur subsequent to June 30, 2011.

WRITTEN OPTIONS CONTRACTS — For the period ended June 30, 2011, the Fund had the following written swaptions activity:

	Notional
	Amount			Premiums
	(000s)			Received
Contracts Outstanding March 31, 2011	$	5,000		$	(51,250	)
Contracts Written		18,400			(139,250	)
Contracts Bought to Close		(11,700	)		95,250
Contracts Expired		(11,700	)		95,250
Contracts Outstanding June 30, 2011	$	—		$	—

TAX INFORMATION — At June 30, 2011, the Fund’s aggregate security unrealized gains and losses based on cost for U.S. federal income tax purposes were as follows:

Tax Cost	$	223,259,580
Gross unrealized gain		4,096,646
Gross unrealized loss		(678,970	)
Net unrealized security gain	$	3,417,676

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 SHORT DURATION GOVERNMENT FUND

Schedule of Investments

June 30, 2011 (Unaudited)

Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — 26.1%
Collateralized Mortgage Obligations — 14.6%
Interest Only(a) — 0.0%
FHLMC REMIC Series 2586, Class NX
$	49,408		4.500	%	08/15/16	$	242
Inverse Floaters(b) — 0.0%
FNMA REMIC Series 1990-134, Class SC
	28,863		21.272		11/25/20		39,712
IOette(a) — 0.0%
FHLMC REMIC Series 1161, Class U
	626		1,172.807		11/15/21		20,027
Planned Amortization Class — 0.0%
FHLMC REMIC Series 1556, Class H
	231,050		6.500		08/15/13		239,895
FHLMC REMIC Series 1916, Class PC
	65,651		6.750		12/15/11		65,823
							305,718
Regular Floater(b) — 10.4%
FDIC Structured Sale Guaranteed Notes Series 2010-S1, Class 1A(c)
	28,755,817		0.736		02/25/48		28,724,548
FDIC Structured Sale Guaranteed Notes Series 2010-S1, Class 2A(c)
	15,189,116		3.250		04/25/38		15,521,627
FNMA REMIC Series 1988-12, Class B(d)
	98,734		0.000		02/25/18		96,509
NCUA Guaranteed Notes Series 2010-A1, Class A
	6,426,624		0.535		12/07/20		6,438,736
NCUA Guaranteed Notes Series 2010-R2, Class 1A
	13,514,816		0.555		11/06/17		13,527,487
NCUA Guaranteed Notes Series 2011-A1
	17,700,000		0.206		06/12/13		17,700,000
NCUA Guaranteed Notes Series 2011-R1, Class 1A
	7,790,150		0.635		01/08/20		7,802,017
NCUA Guaranteed Notes Series 2011-R2, Class 1A
	25,613,719		0.585		02/06/20		25,636,730
NCUA Guaranteed Notes Series 2011-R3, Class 1A
	28,795,658		0.590		03/11/20		28,842,900
NCUA Guaranteed Notes Series 2011-R4, Class 1A
	48,691,894		0.565		03/06/20		48,726,129
NCUA Guaranteed Notes Series 2011-R5, Class 1A
	45,745,978		0.565		04/06/20		45,779,931
NCUA Guaranteed Notes Series 2011-R6, Class 1A
	44,466,670		0.565		05/07/20		44,501,408
							283,298,022
Sequential Fixed Rate — 3.9%
FHLMC Multifamily Structured Pass-Through Certificates Series K011, Class A2
	20,100,000		4.084		11/25/20		20,538,274
FHLMC REMIC Series 108, Class G
	231,732		8.500		12/15/20		265,756
FHLMC REMIC Series 1980, Class Z
	1,164,753		7.000		07/15/27		1,328,916
FHLMC REMIC Series 2019, Class Z
	1,260,523		6.500		12/15/27		1,429,357
FHLMC REMIC Series 3003, Class CG
	3,146,514		5.000		07/15/23		3,219,083

Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
Sequential Fixed Rate — (continued)
FHLMC REMIC Series 3466, Class BA
$	3,733,680		5.000	%	08/15/35	$	3,883,768
FNMA ACES Series 2009-M2, Class A2
	21,700,000		3.334		01/25/19		22,552,775
FNMA REMIC Series 1989-66, Class J
	408,926		7.000		09/25/19		455,269
FNMA REMIC Series 1990-16, Class E
	242,641		9.000		03/25/20		284,336
FNMA REMIC Series 1992-33, Class K
	145,943		8.500		03/25/18		146,303
FNMA REMIC Series 2002-91, Class LK
	1,043,122		4.500		06/25/22		1,067,315
FNMA REMIC Series 2009-70, Class AL
	29,362,717		5.000		08/25/19		31,680,170
GNMA REMIC Series 1995-3, Class DQ
	59,903		8.050		06/16/25		69,137
NCUA Guaranteed Notes Series 2010-R1, Class 2A
	2,217,825		1.840		10/07/20		2,238,618
NCUA Guaranteed Notes Series A4
	16,200,000		3.000		06/12/19		16,015,370
							105,174,447
Sequential Floating Rate(b) — 0.3%
FNMA REMIC Series 1988-12, Class A
	192,202		4.041		02/25/18		203,492
NCUA Guaranteed Notes Series 2010-R1, Class 1A
	7,675,318		0.635		10/07/20		7,692,707
							7,896,199
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS						$	396,734,367
Federal Agencies — 11.5%
Adjustable Rate FHLMC(b) — 0.6%
$	155,611		3.761	%	05/01/18	$	159,195
	84,477		4.544		10/01/25		87,292
	973,868		2.782		11/01/34		1,021,615
	6,039,458		2.561		06/01/35		6,328,428
	802,953		5.038		05/01/36		854,016
	176,362		5.966		10/01/36		183,607
	189,282		5.568		11/01/36		201,821
	5,861,325		6.298		09/01/37		6,247,807
							15,083,781
Adjustable Rate FNMA(b) — 4.2%
	40,123		2.044		11/01/17		40,622
	218,184		3.712		02/01/18		223,374
	109,830		2.208		06/01/18		109,898
	154,733		5.706		05/01/20		164,984
	77,656		4.716		01/01/23		80,435
	470,276		3.349		02/01/27		489,249
	5,155,707		3.206		08/01/29		5,304,320
	59,621		2.630		07/01/32		62,457
	43,757		3.005		07/01/32		45,757
	315,652		2.417		01/01/33		327,623
	3,545,894		2.675		05/01/33		3,718,323
	514,557		2.750		08/01/33		541,882
	2,763,628		4.611		08/01/33		2,995,082
	2,411,605		2.538		02/01/34		2,531,983
	777,554		2.445		05/01/34		811,947
	1,483,583		2.470		05/01/34		1,550,466
	1,136,812		2.701		06/01/34		1,190,801
	795,154		2.732		10/01/34		831,040
	1,317,222		2.738		10/01/34		1,372,306

GOLDMAN SACHS SHORT DURATION GOVERNMENT FUND

Schedule of Investments (continued)

June 30, 2011 (Unaudited)

Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
Adjustable Rate FNMA(b) — (continued)
$	2,093,159		2.256	%	02/01/35	$	2,178,106
	318,729		2.343		02/01/35		331,732
	542,567		2.423		03/01/35		566,158
	3,556,278		2.470		03/01/35		3,717,864
	3,383,502		2.069		04/01/35		3,504,763
	6,755,280		2.181		04/01/35		7,027,524
	2,328,898		2.595		04/01/35		2,436,768
	998,058		2.193		05/01/35		1,038,335
	618,489		2.275		05/01/35		642,274
	11,621,777		2.514		07/01/35		12,092,866
	3,681,255		2.599		08/01/35		3,871,006
	2,417,596		2.430		10/01/35		2,524,328
	4,199,646		2.496		03/01/36		4,396,769
	1,356,130		2.594		04/01/36		1,388,185
	3,413,720		2.675		04/01/36		3,588,908
	2,122,686		2.766		06/01/36		2,180,464
	4,167,138		5.729		06/01/36		4,377,629
	3,658,358		2.795		07/01/36		3,762,446
	59,634		4.730		07/01/36		63,585
	5,640,858		5.916		09/01/36		5,878,840
	374,167		5.537		11/01/36		396,130
	306,977		5.573		11/01/36		326,674
	9,044,093		2.702		04/01/37		9,397,591
	5,608,054		5.406		07/01/37		5,965,332
	9,390,909		5.160		11/01/38		9,798,648
	216,900		5.789		12/01/46		228,115
							114,073,589
Adjustable Rate GNMA(b) — 0.5%
	3,306,083		1.875		05/20/34		3,409,073
	756,807		2.500		05/20/34		780,560
	1,405,284		2.500		07/20/34		1,451,358
	800,556		2.625		08/20/34		826,986
	3,729,939		2.500		09/20/34		3,852,232
	2,039,491		2.625		09/20/34		2,106,904
	818,826		1.750		10/20/34		844,663
	1,202,999		1.750		12/20/34		1,239,004
							14,510,780
FHLMC — 0.3%
	1,707		7.000		12/01/12		1,713
	17,054		6.500		01/01/13		17,656
	20,731		6.500		04/01/13		21,294
	56,879		6.500		05/01/13		59,225
	20,997		6.500		06/01/13		21,934
	13,627		6.500		10/01/13		14,233
	528,770		4.500		10/01/14		564,103
	349,789		4.000		11/01/14		369,688
	445,350		4.000		03/01/15		469,590
	3,253,967		4.500		03/01/15		3,367,754
	246,263		4.500		08/01/15		262,690
	40,748		8.500		10/01/15		43,906
	233,396		8.000		12/01/15		252,235
	10,561		7.000		03/01/16		11,476
	2,462,710		5.500		01/01/20		2,669,924
	812,074		7.000		04/01/22		943,228
	17,484		4.500		05/01/23		18,538
	34,490		7.500		01/01/31		38,870
	16,551		6.000		06/01/36		18,242
							9,166,299

Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
FNMA — 5.8%
$	107		7.000	%	07/01/11	$	108
	537,359		5.500		01/01/13		555,666
	15,781		6.000		01/01/14		17,225
	50,417		6.000		03/01/14		55,030
	11,662		5.500		04/01/14		12,648
	328,668		4.000		01/01/15		338,787
	117,319		4.500		01/01/15		121,602
	2,570		8.500		09/01/15		2,583
	91,011		8.500		10/01/15		94,750
	12,779		8.500		12/01/15		13,645
	9,000,000		3.660		01/01/18		9,266,595
	11,565		5.500		01/01/18		12,533
	7,763,450		2.800		03/01/18		7,655,773
	6,860,000		3.840		05/01/18		7,080,686
	402,145		5.500		07/01/18		435,793
	214,121		5.500		08/01/18		232,037
	437,735		5.500		09/01/18		474,593
	60,734		5.500		12/01/18		65,815
	26,802		5.500		01/01/19		29,111
	49,598		5.500		03/01/19		53,872
	16,196		5.500		08/01/19		17,570
	14,784		5.000		09/01/19		15,964
	58,924		7.000		11/01/19		67,492
	4,981,672		3.416		10/01/20		4,888,278
	7,172,860		3.375		11/01/20		7,013,016
	3,786,518		3.632		12/01/20		3,761,420
	8,277,746		5.500		09/01/23		8,982,385
	1,574,998		5.500		10/01/23		1,714,410
	11,423		7.000		12/01/24		13,036
	2,046		7.000		07/01/27		2,357
	3,121		7.000		08/01/27		3,562
	4,675		7.000		10/01/28		5,335
	3,883		7.000		01/01/29		4,431
	2,536		7.000		11/01/29		2,894
	136,079		8.000		02/01/31		154,546
	3,171		7.000		04/01/31		3,620
	18,870		7.000		05/01/32		21,459
	12,089		7.000		06/01/32		13,748
	6,532		7.000		08/01/32		7,428
	2,114,576		6.000		03/01/33		2,348,502
	4,311,212		6.500		04/01/33		4,895,415
	4,506		7.000		04/01/34		5,132
	10,753,257		6.000		04/01/35		11,887,943
	1,782		6.000		11/01/35		1,968
	95,000		8.500		09/01/37		109,367
	1,151,058		7.500		10/01/37		1,323,325
	107,278		4.000		02/01/40		107,590
	3,987,045		3.500		02/01/41		3,817,676
	1,993,495		3.500		03/01/41		1,908,812
	78,000,000		3.500		TBA — 15yr(e)		79,413,750
							159,031,283
GNMA — 0.1%
	5,002		9.000		07/15/12		5,028
	847,794		5.500		07/15/20		920,075
	343,735		6.000		11/15/38		384,151
							1,309,254
TOTAL FEDERAL AGENCIES						$	313,174,986
TOTAL MORTGAGE-BACKED OBLIGATIONS						$	709,909,353

GOLDMAN SACHS SHORT DURATION GOVERNMENT FUND

Schedule of Investments (continued)

June 30, 2011 (Unaudited)

Principal		Interest			Maturity
Amount		Rate			Date	Value
Agency Debentures — 21.6%
FHLB
$	8,130,000		5.000	%	09/09/11	$	8,203,162
	67,200,000		1.750		12/14/12		68,438,032
	12,000,000		4.875		12/14/12		12,759,870
	83,200,000		3.750		09/09/16		89,315,516
	37,000,000		3.875		12/14/18		39,219,482
	13,400,000		5.375		05/15/19		15,486,353
	26,355,000		4.125		03/13/20		27,713,605
FHLMC
	13,900,000		4.500		01/15/13		14,762,735
	66,000,000		0.141	(b)	06/03/13		65,974,300
	41,000,000		0.135	(b)	06/17/13		40,983,690
	44,200,000		1.375		02/25/14		44,784,426
	132,800,000		1.000		07/30/14		132,639,445
FNMA(d)
	28,400,000		0.000		07/05/14		27,437,586
Small Business Administration
	101,588		7.200		06/01/17		113,239
	257,221		6.300		05/01/18		281,890
	179,022		6.300		06/01/18		196,516
TOTAL AGENCY DEBENTURES						$	588,309,847
Government Guarantee Obligations(f) — 14.6%
Ally Financial, Inc.
$	80,000,000		1.750	%	10/30/12	$	81,425,184
	92,200,000		2.200		12/19/12		94,572,582
Citigroup Funding, Inc.
	10,700,000		1.875		10/22/12		10,908,998
	21,800,000		1.875		11/15/12		22,238,280
General Electric Capital Corp.
	51,000,000		0.450	(b)	03/12/12		51,142,239
	37,000,000		2.125		12/21/12		37,914,266
	20,400,000		2.625		12/28/12		21,058,600
Morgan Stanley & Co.(b)
	25,000,000		1.104		12/01/11		25,099,725
United States Central Federal Credit Union
	29,700,000		1.900		10/19/12		30,279,076
Western Corporate Federal Credit Union
	21,300,000		1.750		11/02/12		21,684,410
TOTAL GOVERNMENT GUARANTEE OBLIGATIONS						$	396,323,360
U.S. Treasury Obligations — 32.1%
United States Treasury Inflation Protected Securities
$	12,506,000		3.000	%	07/15/12	$	13,059,015
United States Treasury Notes
	60,000,000		0.375		08/31/12		60,077,399
	280,800,000		0.375		10/31/12		281,075,184
	58,900,000		1.375		01/15/13		59,801,754
	58,300,000		0.625		01/31/13		58,523,295
	148,200,000		0.750	(g)	03/31/13		149,077,048
	200,300,000		0.625		04/30/13		200,989,036
	49,000,000		1.500		06/30/16		48,400,730
	3,500,000		3.125		05/15/21		3,490,165
TOTAL U.S. TREASURY OBLIGATIONS						$	874,493,626

		Exercise			Expiration
Contracts		Rate			Date	Value
Options Purchased — 0.4%
Interest Rate Swaptions
Citibank NA Put - OTC — 5 year Interest Rate Swap Strike Price 2.605
$	56,300,000		2.605	%	02/21/12	$	1,042,906
Citibank NA Call - OTC — 5 year Interest Rate Swap Strike Price 2.605
	56,300,000		2.605		02/21/12		805,732
Citibank NA Put - OTC — 5 year Interest Rate Swap Strike Price 2.675
	56,300,000		2.675		02/21/12		1,158,783
Citibank NA Call - OTC — 5 year Interest Rate Swap Strike Price 2.675
	56,300,000		2.675		02/21/12		734,744
Citibank NA Put - OTC — 10 year Interest Rate Swap Strike Price 3.595
	39,300,000		3.595		02/24/12		1,207,805
Citibank NA Call - OTC — 10 year Interest Rate Swap Strike Price 3.595
	39,300,000		3.595		02/24/12		1,165,828
Citibank NA Put - OTC — 10 year Interest Rate Swap Strike Price 3.560
	19,800,000		3.560		06/15/12		583,497
Citibank NA Call - OTC — 10 year Interest Rate Swap Strike Price 3.560
	19,800,000		3.560		06/15/12		873,899
Deutsche Bank Securities, Inc. Put - OTC — 30 year Interest Rate Swap Strike Price 4.080
	13,000,000		4.080		06/25/12		702,026
Deutsche Bank Securities, Inc. Call - OTC — 30 year Interest Rate Swap Strike Price 4.080
	13,000,000		4.080		06/25/12		1,163,151
Morgan Stanley Capital Services, Inc. Put - OTC — 30 year Interest Rate Swap Strike Price 4.260
	21,800,000		4.260		02/21/12		1,340,837
Morgan Stanley Capital Services, Inc. Call - OTC — 30 year Interest Rate Swap Strike Price 4.260
	21,800,000		4.260		02/21/12		1,162,731
TOTAL OPTIONS PURCHASED — 0.4%						$	11,941,939
TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENT						$	2,580,978,125

Principal		Interest			Maturity
Amount		Rate			Date	Value
Short-term Investment(h) — 8.0%
Repurchase Agreement — 8.0%
Joint Repurchase Agreement Account II
$	216,200,000		0.077	%	07/01/11	$	216,200,000
TOTAL INVESTMENTS — 102.8%						$	2,797,178,125
LIABILITIES IN EXCESS OF OTHER ASSETS — (2.8)%							(75,959,011	)
NET ASSETS — 100.0%						$	2,721,219,114

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

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

(b) Variable rate security. Interest rate disclosed is that which is in effect at June 30, 2011.

GOLDMAN SACHS SHORT DURATION GOVERNMENT FUND

Schedule of Investments (continued)

June 30, 2011 (Unaudited)

(c) 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 $44,246,175, which represents approximately 1.6% of net assets as of June 30, 2011.

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

(e) TBA (To Be Announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement when the specific mortgage pools are assigned. Total market value of TBA securities (excluding forward sales contracts, if any) amounts to $79,413,750 which represents approximately 2.9% of net assets as of June 30, 2011.

(f) 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.

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

(h) Joint repurchase agreement was entered into on June 30, 2011. Additional information appears in the Notes to the Schedule of Investments section.

Investment Abbreviations:
ACES	— Alternative Credit Enhancement Securities
FDIC	— Federal Deposit Insurance Corp.
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
NCUA	— National Credit Union Administration
OTC	— Over the Counter
REMIC	— Real Estate Mortgage Investment Conduit

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 SHORT DURATION GOVERNMENT FUND

Schedule of Investments (continued)

June 30, 2011 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FORWARD SALES CONTRACTS — At June 30, 2011, the Fund had the following forward sales contracts:

	Interest			Maturity	Settlement		Principal
Description	Rate			Date(e)	Date		Amount			Value
FNMA		3.500	%	TBA — 30yr		07/14/11	$	(2,000,000	)	$	(1,912,969	)
FNMA		3.500		TBA — 30yr		08/11/11		(3,000,000	)		(2,861,484	)
TOTAL (Proceeds Receivable: $4,835,000)										$	(4,774,453	)

FUTURES CONTRACTS — At June 30, 2011, the following futures contracts were open:

	Number of
	Contracts			Expiration	Current			Unrealized
Type	Long (Short)			Date	Value			Gain (Loss)
Eurodollars		33		September 2011	$	8,221,537		$	338
Eurodollars		33		December 2011		8,215,350			338
Eurodollars		33		March 2012		8,209,988			(487	)
Eurodollars		33		June 2012		8,199,263			(3,787	)
Eurodollars		33		September 2012		8,182,350			(8,737	)
Eurodollars		33		December 2012		8,161,725			(12,449	)
Eurodollars		33		March 2013		8,141,100			(16,574	)
Eurodollars		33		June 2013		8,119,238			(19,049	)
Ultra Long U.S. Treasury Bonds		183		September 2011		23,103,750			(208,651	)
2 Year U.S. Treasury Notes		9,840		September 2011		2,158,342,500			2,263,743
5 Year U.S. Treasury Notes		(1,542	)	September 2011		(183,799,173	)		(146,862	)
10 Year U.S. Treasury Notes		(1,429	)	September 2011		(174,806,891	)		1,443,121
30 Year U.S. Treasury Bonds		(547	)	September 2011		(67,298,094	)		1,128,029
TOTAL								$	4,418,973

SWAP CONTRACTS — At June 30, 2011, the Fund had outstanding swap contracts with the following terms:

INTEREST RATE SWAP CONTRACTS

						Rates Exchanged									Upfront
	Notional					Payments			Payments						Payments
	Amount			Termination		Received by			Made by			Market			Made (Received)			Unrealized
Counterparty	(000s)			Date		the Fund			the Fund			Value			by the Fund			Gain (Loss)
Bank of America Securities LLC	$	54,600	(a)		11/23/14	3 month LIBOR				2.116	%	$	(231,347	)	$	—		$	(231,347	)
		31,000			11/02/16	3 month LIBOR				1.780			501,626			—			501,626
		48,700	(a)		11/23/19		3.587	%	3 month LIBOR				124,251			—			124,251
		4,700	(a)		07/01/24		4.479		3 month LIBOR				(25,650	)		—			(25,650	)
		17,500	(a)		11/23/27	3 month LIBOR				4.206			57,356			—			57,356
		5,500	(a)		05/15/37	3 month LIBOR				3.962			117,884			—			117,884
		2,600	(a)		07/01/44	3 month LIBOR				4.595			19,200			—			19,200
Deutsche Bank Securities, Inc.		13,700	(a)		12/21/16		2.500		3 month LIBOR				81,941			259,248			(177,307	)
JPMorgan Securities, Inc.		185,600			12/31/12	3 month LIBOR				0.943			(1,489,686	)		—			(1,489,686	)
		145,200	(a)		06/30/13	3 month LIBOR				0.750			(2,355	)		(88,036	)		85,681
		52,000			11/02/16	3 month LIBOR				1.780			841,415			2,670			838,745
		39,000			11/02/18	3 month LIBOR				2.310			1,047,810			8,258			1,039,552
		28,600	(a)		12/21/18		3.250		3 month LIBOR				520,802			871,166			(350,364	)
		28,600	(a)		12/21/18	3 month LIBOR				3.250			(520,802	)		(853,619	)		332,817
Morgan Stanley Capital Services, Inc.		160,400	(a)		06/30/13	3 month LIBOR				0.750			(2,602	)		(97,877	)		95,275
		138,300	(a)		12/21/13		1.250		3 month LIBOR				604,121			819,082			(214,961	)
		138,300	(a)		12/21/13	3 month LIBOR				1.250			(604,122	)		(805,599	)		201,477
		123,900	(a)		12/21/14	3 month LIBOR				1.750			(875,994	)		(1,188,147	)		312,153
		10,300	(a)		04/08/24		4.820		3 month LIBOR				278,451			—			278,451
		7,700	(a)		06/24/24		4.350		3 month LIBOR				(116,017	)		—			(116,017	)
		7,100	(a)		07/01/24		4.440		3 month LIBOR				(60,303	)		—			(60,303	)
		7,000	(a)		05/15/37	3 month LIBOR				3.967			144,784			—			144,784
		5,800	(a)		04/08/44	3 month LIBOR				4.845			(213,029	)		—			(213,029	)
		4,200	(a)		06/24/44	3 month LIBOR				4.473			109,153			—			109,153
		3,900	(a)		07/01/44	3 month LIBOR				4.560			49,906			—			49,906
TOTAL												$	356,793		$	(1,072,854	)	$	1,429,647

(a) Represents forward starting interest rate swaps whose effective dates of commencement of accruals and cash flows occur subsequent to June 30, 2011.

GOLDMAN SACHS SHORT DURATION GOVERNMENT FUND

Schedule of Investments (continued)

June 30, 2011 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

WRITTEN OPTIONS CONTRACTS — For the period ended June 30, 2011, the Fund had the following written swaptions activity:

	Notional
	Amount			Premiums
	(000s)			Received
Contracts Outstanding March 31, 2011	$	68,000		$	(740,350	)
Contracts Written		221,000			(2,064,755	)
Contracts Bought to Close		(161,500	)		1,598,478
Contracts Expired		(127,500	)		1,206,627
Contracts Outstanding June 30, 2011	$	—		$	—

TAX INFORMATION — At June 30, 2011, the Fund’s aggregate security unrealized gains and losses based on cost for U.S. federal income tax purposes were as follows:

Tax Cost	$	2,755,089,265
Gross unrealized gain		44,344,402
Gross unrealized loss		(2,255,542	)
Net unrealized security gain	$	42,088,860

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 ULTRA-SHORT DURATION GOVERNMENT FUND

Schedule of Investments

June 30, 2011 (Unaudited)

Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — 25.9%
Collateralized Mortgage Obligations — 14.8%
Adjustable Rate Non-Agency(a) — 0.5%
Bank of America Mortgage Securities Series 2002-J, Class A2
$	12,391		3.809	%	09/25/32	$	11,296
Bear Stearns Adjustable Rate Mortgage Trust Series 2003-05, Class 1A1
	49,782		2.848		08/25/33		46,049
Countrywide Home Loan Mortgage Pass-Through Trust Series 2003-37, Class 1A1
	31,658		3.321		08/25/33		25,372
CS First Boston Mortgage Securities Corp. Series 2003-AR9, Class 2A2
	748,497		2.463		03/25/33		642,506
Sequoia Mortgage Trust Series 2004-10, Class A3A
	1,266,233		0.765		11/20/34		1,092,542
							1,817,765
Interest Only(b) — 0.0%
FHLMC REMIC Series 2586, Class NX
	88,497		4.500		08/15/16		433
FNMA REMIC Series 1990-145, Class B
	930		1,004.961		12/25/20		18,321
							18,754
Planned Amortization Class — 0.2%
FHLMC REMIC Series 2113, Class TE
	469,011		6.000		01/15/14		489,523
FNMA REMIC Series 1993-225, Class WC
	302,055		6.500		12/25/13		316,196
							805,719
Regular Floater(a) — 10.3%
Collateralized Mortgage Securities Corp. Series N, Class 2
	112,045		0.857		08/25/17		112,488
FDIC Structured Sale Guaranteed Notes Series 2010-S1, Class 1A(c)
	2,104,084		0.736		02/25/48		2,101,796
FHLMC REMIC Series 1826, Class F
	93,046		0.588		09/15/21		93,143
FNMA REMIC Series 1990-145, Class A
	378,262		1.239		12/25/20		376,395
FNMA REMIC Series 1997-20, Class F
	790,906		0.774		03/25/27		793,157
FNMA REMIC Series 1998-66, Class FC
	189,027		0.685		11/17/28		190,567
NCUA Guaranteed Notes Series 2010-A1, Class A
	1,042,155		0.535		12/07/20		1,044,119
NCUA Guaranteed Notes Series 2010-R2, Class 1A
	2,119,971		0.555		11/06/17		2,121,959
NCUA Guaranteed Notes Series 2011-A1
	2,700,000		0.206		06/12/13		2,700,000
NCUA Guaranteed Notes Series 2011-R1, Class 1A
	1,330,026		0.635		01/08/20		1,332,052
NCUA Guaranteed Notes Series 2011-R2, Class 1A
	3,822,943		0.585		02/06/20		3,826,377
NCUA Guaranteed Notes Series 2011-R3, Class 1A
	4,248,540		0.585		03/11/20		4,255,510
NCUA Guaranteed Notes Series 2011-R4, Class 1A
	7,182,521		0.565		03/06/20		7,187,571
NCUA Guaranteed Notes Series 2011-R5, Class 1A
	7,338,417		0.565		04/06/20		7,343,864
NCUA Guaranteed Notes Series 2011-R6, Class 1A
	7,095,745		0.565		05/07/20		7,101,288
							40,580,286

Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
Sequential Fixed Rate — 2.9%
FHLMC Multifamily Structured Pass-Through Certificates Series K011, Class A2
$	1,500,000		4.084	%	11/25/20	$	1,532,707
First Nationwide Trust Series 2001-4, Class 1A1
	40,213		6.750		09/21/31		40,512
FNMA ACES Series 2009-M2, Class A2
	3,250,000		3.334		01/25/19		3,377,720
FNMA REMIC Series 2009-70, Class AL
	5,571,673		5.000		08/25/19		6,011,417
NCUA Guaranteed Notes Series 2010-R1, Class 2A
	369,638		1.840		10/07/20		373,103
							11,335,459
Sequential Floating Rate(a) — 0.9%
FHLMC Multifamily Structured Pass-Through Certificates Series K701, Class A2
	2,250,000		3.882		11/25/17		2,352,335
NCUA Guaranteed Notes Series 2010-R1, Class 1A
	1,249,470		0.635		10/07/20		1,252,301
							3,604,636
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS						$	58,162,619
Federal Agencies — 11.1%
Adjustable Rate FHLMC(a) — 1.2%
$	52,670		2.758	%	08/01/16	$	53,531
	81,003		3.693		08/01/18		84,228
	51,143		3.390		11/01/18		52,625
	336,198		4.341		11/01/18		345,038
	20,991		3.293		02/01/19		21,624
	53,687		2.736		03/01/19		54,837
	35,314		3.557		03/01/19		36,643
	49,231		2.972		06/01/19		50,208
	36,624		3.373		07/01/19		37,905
	829,470		3.639		11/01/19		862,112
	670,456		6.876		11/01/19		714,874
	60,259		3.328		01/01/20		61,618
	78,604		2.734		05/01/21		80,624
	18,101		5.975		01/01/25		18,870
	49,581		2.793		10/01/26		50,504
	706,164		5.347		08/01/28		752,947
	340,263		2.533		05/01/29		350,529
	49,134		4.194		06/01/29		53,249
	72,239		2.821		04/01/30		74,660
	73,796		4.343		06/01/30		79,976
	204,546		2.696		12/01/30		211,962
	52,851		2.819		02/01/31		54,700
	14,879		3.766		06/01/31		15,590
	501,804		4.417		05/01/35		532,166
							4,651,020
Adjustable Rate FNMA(a) — 1.9%
	219,358		6.750		04/01/17		227,503
	36,683		4.258		08/01/17		37,766
	128,933		2.748		09/01/17		131,865
	79,886		2.750		09/01/17		82,535
	39,637		3.000		12/01/17		40,443

GOLDMAN SACHS ULTRA-SHORT DURATION GOVERNMENT FUND

Schedule of Investments (continued)

June 30, 2011 (Unaudited)

Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
Adjustable Rate FNMA(a) — (continued)
$	29,179		4.875	%	12/01/17	$	31,404
	80,599		2.839		03/01/18		82,342
	199,580		2.911		03/01/18		203,991
	938,587		2.943		07/01/18		959,591
	48,036		2.128		10/01/18		48,620
	98,088		2.746		10/01/18		100,316
	40,156		2.752		10/01/18		41,059
	109,444		2.780		10/01/18		111,240
	121,235		2.845		01/01/19		123,935
	431,901		4.017		04/01/19		457,583
	28,964		5.921		04/01/19		30,301
	219,512		2.439		05/01/19		226,098
	837,267		2.826		05/01/19		856,884
	116,913		6.184		07/01/19		124,659
	346,448		4.297		08/01/19		369,815
	311,993		5.706		05/01/20		332,663
	413,574		2.851		06/01/20		423,223
	28,867		6.534		02/01/22		30,779
	92,693		2.912		05/20/22		96,395
	329,271		2.388		02/01/23		339,672
	5,406		6.219		12/01/23		5,662
	475,639		2.459		01/01/24		487,054
	519,210		2.300		03/01/24		531,419
	431,786		2.952		06/20/24		447,258
	28,076		4.437		08/01/24		29,326
	135,497		5.095		01/01/25		144,474
	33,224		3.807		06/01/27		34,271
	21,263		4.250		12/01/27		23,044
	48,716		4.535		01/01/28		52,796
	30,169		2.734		06/01/29		31,172
	20,255		2.872		06/01/29		20,878
	23,722		4.026		05/01/36		25,570
	136,849		1.695		06/01/40		137,492
	11,964		1.495		02/01/41		11,953
							7,493,051
Adjustable Rate GNMA(a) — 2.2%
	7,309,232		2.500		08/20/34		7,548,491
	914,342		2.625		08/20/34		944,529
							8,493,020
FHLMC — 1.5%
	69,111		6.500		03/01/13		72,195
	27,072		6.500		04/01/13		27,808
	30,902		6.500		05/01/13		32,281
	70,818		6.500		06/01/13		73,475
	674,514		8.000		12/01/15		728,960
	497,528		5.500		01/01/20		539,390
	253,280		7.000		04/01/21		294,007
	148,431		7.000		08/01/21		172,295
	1,389,852		7.000		03/01/22		1,614,236
	404,020		7.000		05/01/22		469,211
	1,549,247		7.000		06/01/22		1,799,342
	17,484		4.500		05/01/23		18,538
	21,635		7.000		12/01/25		24,972
							5,866,710
FNMA — 4.3%
	12,810		6.000		09/01/11		12,857
	104,973		6.500		04/01/12		107,112
	241,313		6.000		05/01/12		249,048
	66,890		6.500		05/01/12		68,496
	143,518		6.000		06/01/12		148,606

Principal		Interest			Maturity
Amount		Rate			Date	Value
Mortgage-Backed Obligations — (continued)
FNMA — (continued)
$	65,236		6.500	%	06/01/12	$	66,918
	1,315,700		5.500		01/01/13		1,360,524
	321,052		8.000		01/01/16		347,367
	513,378		7.000		03/01/17		569,980
	97,507		7.000		05/01/17		108,258
	1,300,000		3.660		01/01/18		1,338,508
	1,094,846		2.800		03/01/18		1,079,660
	3,606,437		5.500		03/01/18		3,908,194
	319,586		5.500		04/01/18		346,326
	740,000		3.840		05/01/18		763,806
	3,379		5.000		08/01/19		3,652
	14,686		5.000		09/01/19		15,869
	14,884		5.000		11/01/19		16,086
	45,970		5.000		01/01/20		49,682
	797,067		3.416		10/01/20		782,124
	1,095,854		3.375		11/01/20		1,071,433
	597,871		3.632		12/01/20		593,908
	133,324		7.000		07/01/21		154,811
	240,561		7.000		11/01/21		279,393
	111,295		7.000		12/01/21		129,246
	226,867		7.000		01/01/22		263,297
	50,315		7.000		02/01/22		58,409
	176,556		7.000		01/01/28		201,494
	159,575		6.500		04/01/33		181,199
	182,690		5.000		01/01/37		194,390
	287,334		5.000		03/01/38		305,455
	35,759		4.000		02/01/40		35,864
	2,000,000		3.500		TBA — 15yr(d)		2,036,250
							16,848,222
GNMA — 0.0%
	41,175		7.000		12/15/25		47,765
	89,930		7.000		04/15/26		104,507
							152,272
TOTAL FEDERAL AGENCIES						$	43,504,295
TOTAL MORTGAGE-BACKED OBLIGATIONS						$	101,666,914
Agency Debentures — 8.6%
FHLB
$	8,000,000		3.875	%	12/14/18	$	8,479,888
	1,900,000		5.375		05/15/19		2,195,826
FHLMC(a)
	10,000,000		0.141		06/03/13		9,996,106
	5,000,000		0.135		06/17/13		4,998,011
FNMA
	6,000,000		0.000	(e)	08/08/11		5,999,874
	1,900,000		3.000		07/28/14		1,903,727
TOTAL AGENCY DEBENTURES						$	33,573,432
Asset-Backed Securities — 16.0%
Auto — 3.1%
Ally Master Owner Trust Series 2010-1, Class A(a)(c)
$	6,500,000		1.937	%	01/15/15	$	6,626,192
Ford Credit Auto Owner Trust Series 2009-B, Class A3
	5,303,054		2.790		08/15/13		5,350,829
							11,977,021

GOLDMAN SACHS ULTRA-SHORT DURATION GOVERNMENT FUND

Schedule of Investments (continued)

June 30, 2011 (Unaudited)

Principal		Interest			Maturity
Amount		Rate			Date	Value
Asset-Backed Securities — (continued)
Credit Card(a)(c) — 1.6%
Penarth Master Issuer PLC Series 2011-1A, Class A1
$	2,300,000		0.850	%	05/18/15	$	2,298,700
World Financial Network Credit Card Master Trust Series 2006-A, Class A
	4,200,000		0.317		02/15/17		4,153,469
							6,452,169
Home Equity(c) — 0.3%
AH Mortgage Advance Trust Series SART-1, Class A1
	1,300,000		2.630		05/10/42		1,303,250
Student Loan(a) — 11.0%
Access Group, Inc. Series 2002-1, Class A2
	3,813,231		0.427		09/25/25		3,805,410
Access Group, Inc. Series 2005-2, Class A1
	396,874		0.359		08/22/17		396,651
Brazos Higher Education Authority, Inc. Series 2005-2, Class A9
	3,066,411		0.347		12/26/17		3,039,243
Brazos Higher Education Authority, Inc. Student Loan Revenue Series 2004 I-A-2
	4,022,515		0.407		06/27/22		3,992,657
Brazos Higher Education Authority, Inc. Student Loan Revenue Series 2005 I-A-2
	2,882,250		0.327		12/26/18		2,857,174
College Loan Corp. Trust Series 2004-1, Class A3
	7,139,885		0.434		04/25/21		7,133,612
College Loan Corp. Trust Series 2005-1, Class A2
	5,000,000		0.374		07/25/24		4,983,517
College Loan Corp. Trust Series 2005-2, Class A2
	1,331,919		0.388		10/15/21		1,326,518
Collegiate Funding Services Education Loan Trust I Series 2003-A, Class A2
	409,228		0.546		09/28/20		409,227
Education Funding Capital Trust I Series 2003-3, Class A3
	6,149,446		0.517		03/16/20		6,133,566
Education Funding Capital Trust I Series 2004-1, Class A2
	2,630,049		0.407		12/15/22		2,605,034
Pennsylvania State Higher Education Assistance Agency Series 2009-2 Class A-1
	2,311,831		0.874		04/25/19		2,312,668
SLM Student Loan Trust Series 2004-9, Class A4
	1,376,073		0.404		04/25/17		1,375,652
SLM Student Loan Trust Series 2006-1, Class A3
	933,599		0.314		10/25/16		933,418
SLM Student Loan Trust Series 2006-5, Class A3
	1,417,158		0.304		10/25/19		1,415,697
SLM Student Loan Trust Series 2008-6, Class A1
	485,767		0.674		10/27/14		485,910
							43,205,954
TOTAL ASSET-BACKED SECURITIES						$	62,938,394
Government Guarantee Obligations(f) — 22.7%
Ally Financial, Inc.
$	20,700,000		2.200	%	12/19/12	$	21,232,673
Bank of America Corp.(a)
	13,400,000		0.447		06/22/12		13,436,099
Citigroup Funding, Inc.
	8,600,000		0.603	(a)	04/30/12		8,629,610
	10,000,000		1.875		11/15/12		10,201,046

Principal		Interest			Maturity
Amount		Rate			Date	Value
Government Guarantee Obligations(f) – (continued)
General Electric Capital Corp.
$	9,400,000		0.450	%(a)	03/12/12	$	9,426,217
	2,000,000		0.247	(a)	12/21/12		2,001,644
	6,000,000		2.625		12/28/12		6,193,706
Morgan Stanley & Co.(a)
	8,500,000		0.547		02/10/12		8,519,516
	3,800,000		0.597		06/20/12		3,816,465
United States Central Federal Credit Union
	1,500,000		1.900		10/19/12		1,529,246
Western Corporate Federal Credit Union
	4,300,000		1.750		11/02/12		4,377,604
TOTAL GOVERNMENT GUARANTEE OBLIGATIONS						$	89,363,826
U.S. Treasury Obligations — 25.8%
United States Treasury Bills(e)
$	47,900,000		0.000	%	09/08/11	$	47,899,083
	11,400,000		0.000		09/22/11		11,399,211
United States Treasury Inflation Protected Securities
	1,750,840		3.000		07/15/12		1,828,262
United States Treasury Notes
	31,200,000		1.000	(g)	03/31/12		31,391,256
	2,300,000		0.750		03/31/13		2,313,611
	3,200,000		0.625		04/30/13		3,211,008
	2,400,000		1.500		06/30/16		2,370,648
	1,000,000		3.125		05/15/21		997,190
TOTAL U.S. TREASURY OBLIGATIONS						$	101,410,269
		Exercise			Expiration
Contracts		Rate			Date	Value
Options Purchased — 0.3%
Interest Rate Swaptions
Deutsche Bank Securities, Inc. Call - OTC — 30 year Interest Rate Swap Strike Price 4.080
$	4,000,000		4.080	%	06/25/12	$	536,839
Deutsche Bank Securities, Inc. Put - OTC — 30 year Interest Rate Swap Strike Price 4.080
	4,000,000		4.080		06/25/12		324,012
Morgan Stanley Capital Services, Inc. Call - OTC — 30 year Interest Rate Swap Strike Price 4.260
	7,000,000		4.260		02/21/12		176,010
Morgan Stanley Capital Services, Inc. Put - OTC — 30 year Interest Rate Swap Strike Price 4.260
	7,000,000		4.260		02/21/12		202,971
TOTAL OPTIONS PURCHASED — 0.3%						$	1,239,832
TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENT						$	390,192,667
Principal		Interest			Maturity
Amount		Rate			Date	Value
Short-term Investment(h) — 1.8%
Repurchase Agreement — 1.8%
Joint Repurchase Agreement Account II
$	7,200,000		0.077	%	07/01/11	$	7,200,000
TOTAL INVESTMENTS — 101.1%						$	397,392,667
LIABILITIES IN EXCESS OF OTHER ASSETS — (1.1)%							(4,261,877	)
NET ASSETS — 100.0%						$	393,130,790

GOLDMAN SACHS ULTRA-SHORT DURATION GOVERNMENT FUND

Schedule of Investments (continued)

June 30, 2011 (Unaudited)

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 June 30, 2011.

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

(c) 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 $16,483,407, which represents approximately 4.2% of net assets as of June 30, 2011.

(d) TBA (To Be Announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement when the specific mortgage pools are assigned. Total market value of TBA securities (excluding forward sales contracts, if any) amounts to $2,036,250 which represents approximately 0.5% of net assets as of June 30, 2011.

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

(f) 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.

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

(h) Joint repurchase agreement was entered into on June 30, 2011. Additional information appears in the Notes to the Schedule of Investments section.

Investment Abbreviations:
ACES	— Alternative Credit Enhancement Securities
FDIC	— Federal Deposit Insurance Corp.
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
NCUA	— National Credit Union Administration
OTC	— Over the Counter
REMIC	— Real Estate Mortgage Investment Conduit

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 ULTRA-SHORT DURATION GOVERNMENT FUND

Schedule of Investments (continued)

June 30, 2011 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FUTURES CONTRACTS — At June 30, 2011, the following futures contracts were open:

	Number of
	Contracts			Expiration	Current			Unrealized
Type	Long (Short)			Date	Value			Gain (Loss)
Eurodollars		377		September 2011	$	93,924,837		$	51,603
Eurodollars		404		December 2011		100,575,800			(10,971	)
Eurodollars		1		March 2012		248,788			(15	)
Eurodollars		1		June 2012		248,463			(115	)
Eurodollars		1		September 2012		247,950			(265	)
Eurodollars		1		December 2012		247,325			(377	)
Eurodollars		1		March 2013		246,700			(502	)
Eurodollars		1		June 2013		246,038			(577	)
Ultra Long U.S. Treasury Bonds		22		September 2011		2,777,500			(43,876	)
2 Year U.S. Treasury Notes		556		September 2011		121,955,125			(83,235	)
5 Year U.S. Treasury Notes		(115	)	September 2011		(13,707,461	)		33,025
10 Year U.S. Treasury Notes		(108	)	September 2011		(13,211,438	)		114,877
30 Year U.S. Treasury Bonds		(99	)	September 2011		(12,180,094	)		182,573
TOTAL								$	242,145

SWAP CONTRACTS — At June 30, 2011, the Fund had outstanding swap contracts with the following terms:

INTEREST RATE SWAP CONTRACTS

						Rates Exchanged									Upfront
	Notional					Payments			Payments						Payments
	Amount			Termination		Received by			Made by			Market			Made (Received)			Unrealized
Counterparty	(000s)			Date		the Fund			the Fund			Value			by the Fund			Gain (Loss)
Bank of America Securities LLC	$	9,300	(a)		11/23/14	3 month LIBOR				2.116	%	$	(39,405	)	$	—		$	(39,405	)
		6,100			10/27/16	3 month LIBOR				3.263			(383,284	)		—			(383,284	)
		8,300	(a)		11/23/19		3.587	%	3 month LIBOR				21,176			—			21,176
		3,000	(a)		11/23/27	3 month LIBOR				4.206			9,832			—			9,832
Deutsche Bank Securities, Inc.		400	(a)		12/21/16		2.500		3 month LIBOR				2,392			7,569			(5,177	)
		3,200	(a)		12/21/26	3 month LIBOR				4.00000			(33,282	)		(101,986	)		68,704
JPMorgan Securities, Inc.		119,000			12/31/12	3 month LIBOR				0.943			(955,133	)		—			(955,133	)
		22,100	(a)		06/30/13	3 month LIBOR				0.750			(358	)		(13,399	)		13,041
		20,300	(a)		12/21/13	3 month LIBOR				1.250			(88,674	)		(130,027	)		41,353
		10,100			10/21/16	3 month LIBOR				3.184			(599,460	)		—			(599,460	)
		8,000			10/05/18	3 month LIBOR				3.242			(331,402	)		—			(331,402	)
		1,200	(a)		12/21/18	3 month LIBOR				3.250			(21,852	)		(35,816	)		13,964
		7,000	(a)		12/21/18		3.250		3 month LIBOR				127,469			193,577			(66,108	)
		4,000	(a)		12/21/21		3.500		3 month LIBOR				3,017			57,643			(54,626	)
Morgan Stanley Capital Services, Inc.		24,200	(a)		06/30/13	3 month LIBOR				0.750			(392	)		(14,767	)		14,375
		20,900	(a)		12/21/13		1.250		3 month LIBOR				91,295			123,780			(32,485	)
		20,900	(a)		12/21/13	3 month LIBOR				1.250			(91,295	)		(121,742	)		30,447
		2,500	(a)		12/21/18	3 month LIBOR				3.250			(45,525	)		(76,246	)		30,721
		4,900	(a)		07/01/24		4.440		3 month LIBOR				(41,617	)		—			(41,617	)
		2,700	(a)		07/01/44	3 month LIBOR				4.560			34,550			—			34,550
TOTAL												$	(2,341,948	)	$	(111,414	)	$	(2,230,534	)

(a) Represents forward starting interest rate swaps whose effective dates of commencement of accruals and cash flows occur subsequent to June 30, 2011.

GOLDMAN SACHS ULTRA-SHORT DURATION GOVERNMENT FUND

Schedule of Investments (continued)

June 30, 2011 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

WRITTEN OPTIONS CONTRACTS — For the period ended June 30, 2011, the Fund had the following written swaptions activity:

	Notional
	Amount			Premiums
	(000s)			Received
Contracts Outstanding March 31, 2011	$	15,000		$	(163,440	)
Contracts Written		46,200			(388,660	)
Contracts Bought to Close		(34,400	)		319,845
Contracts Expired		(26,800	)		232,255
Contracts Outstanding June 30, 2011	$	—		$	—

TAX INFORMATION — At June 30, 2011, the Fund’s aggregate security unrealized gains and losses based on cost for U.S. federal income tax purposes were as follows:

Tax Cost	$	392,749,057
Gross unrealized gain		5,801,486
Gross unrealized loss		(1,157,876	)
Net unrealized security gain	$	4,643,610

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 SHORT DURATION AND GOVERNMENT FIXED INCOME FUNDS

Schedule of Investments (continued)

June 30, 2011 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS

Investment Valuation — The investment valuation policy of the Funds is to value investments at market value. 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 securities dealers to determine current value. If accurate quotations are not readily available, or if Goldman Sachs Asset Management, L.P. (“GSAM”) believes that such quotations do not accurately reflect fair value, the fair value of the Funds’ investments may be determined based on yield equivalents, a pricing matrix or other sources, under valuation procedures established by the trustees. Short-term debt obligations that mature in sixty days or less and that do not exhibit signs of credit deterioration are valued at amortized cost, which approximates market value.

     Investments in equity securities and investment companies traded on a United States (“U.S.”) securities exchange or the NASDAQ system are valued daily at their last sale price or official closing price on the principal exchange or system on which they are traded. If no sale occurs, such securities and investment companies are valued at the last bid price for long positions and at the last ask price for short positions. Unlisted equity securities for which market quotations are available are valued at the last sale price on the valuation date, or if no sale occurs, at the last bid price. In the absence of market quotations, broker quotes will be utilized or the security will be fair valued. Investments in investment companies (other than those that are exchange traded) are valued at the net asset value per share (“NAV”) of the investment company on the valuation date.

     GSAM, 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 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, volatility and credit spreads), either directly or indirectly;

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

GOLDMAN SACHS SHORT DURATION AND GOVERNMENT FIXED INCOME FUNDS

Schedule of Investments (continued)

June 30, 2011 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

     The following is a summary of the Funds’ investments and derivatives categorized in the fair value hierarchy as of June 30, 2011:

ENHANCED INCOME

Investment Type	Level 1			Level 2			Level 3
Assets
Fixed Income
Corporate Obligations	$	—		$	427,061,337		$	—
U.S. Treasury Obligations and/or Other U.S. Government Agencies		3,787,114			6,065,344			—
Asset-Backed Securities		—			56,933,681			—
Foreign Debt Obligations		—			35,490,907			—
Government Guarantee Obligations		—			149,473,862			—
Short-term Investments		—			96,000,000			—
Total	$	3,787,114		$	771,025,131		$	—
Derivative Type	Level 1			Level 2			Level 3
Assets
Futures Contracts*	$	104,183		$	—		$	—
Interest Rate Swap Contracts		—			80,812			—
Credit Default Swap Contracts		—			92,383			—
Total	$	104,183		$	173,195		$	—
Liabilities
Futures Contracts*	$	(3,283,708	)	$	—		$	—
Interest Rate Swap Contracts		—			(81,159	)		—
Total	$	(3,283,708	)	$	(81,159	)	$	—
GOVERNMENT INCOME
Investment Type	Level 1			Level 2			Level 3
Assets
Fixed Income
Mortgage-Backed Obligations	$	—		$	470,980,639		$	—
U.S. Treasury Obligations and/or Other U.S. Government Agencies		147,122,988			100,720,197			—
Asset-Backed Securities		—			22,310,437			—
Government Guarantee Obligations		—			106,355,744			—
Municipal Debt Obligations		—			2,227,700			—
Short-term Investments		—			186,500,000			—
Total	$	147,122,988		$	889,094,717		$	—
Liabilities
Fixed Income
Mortgage-Backed Obligations — Forward Sales Contracts	$	—		$	(51,151,172	)	$	—
Derivative Type	Level 1			Level 2			Level 3
Assets
Options Purchased	$	—		$	3,821,039		$	—
Futures Contracts*		365,697			—			—
Interest Rate Swap Contracts		—			520,839			—
Total	$	365,697		$	4,341,878		$	—
Liabilities
Futures Contracts*	$	(955,170	)	$	—		$	—
Interest Rate Swap Contracts		—			(898,978	)		—
Total	$	(955,170	)	$	(898,978	)	$	—
INFLATION PROTECTED SECURITIES
Investment Type	Level 1			Level 2			Level 3
Assets
Fixed Income
Corporate Obligations	$	—		$	3,144,734		$	—
U.S. Treasury Obligations		219,083,876			—			—
Government Guarantee Obligations		—			1,178,939			—
Short-term Investments		—			2,500,000			—
Total	$	219,083,876		$	6,823,673		$	—

GOLDMAN SACHS SHORT DURATION AND GOVERNMENT FIXED INCOME FUNDS

Schedule of Investments (continued)

June 30, 2011 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

INFLATION PROTECTED SECURITIES — (continued)
Derivative Type	Level 1			Level 2			Level 3
Assets
Options Purchased	$	—		$	769,707		$	—
Futures Contracts*		178,931			—			—
Interest Rate Swap Contracts		—			24,025			—
Total	$	178,931		$	793,732		$	—
Liabilities
Futures Contracts*	$	(244,328	)	$	—		$	—
Interest Rate Swap Contracts		—			(24,223	)		—
Total	$	(244,328	)	$	(24,223	)	$	—
SHORT DURATION GOVERNMENT
Investment Type	Level 1			Level 2			Level 3
Assets
Fixed Income
Mortgage-Backed Obligations	$	—		$	709,909,353		$	—
U.S. Treasury Obligations and/or Other U.S. Government Agencies		874,493,626			588,309,847			—
Government Guarantee Obligations		—			396,323,360			—
Short-term Investments		—			216,200,000			—
Total	$	874,493,626		$	1,910,742,560		$	—
Liabilities
Fixed Income
Mortgage-Backed Obligations — Forward Sales Contracts	$	—		$	(4,774,453	)	$	—
Derivative Type	Level 1			Level 2			Level 3
Assets
Options Purchased		—		$	11,941,939		$	—
Futures Contracts*		4,835,569			—			—
Interest Rate Swap Contracts		—			4,498,700			—
Total	$	4,835,569		$	16,440,639		$	—
Liabilities
Futures Contracts*	$	(416,596	)	$	—		$	—
Interest Rate Swap Contracts		—			(4,141,907	)		—
Total	$	(416,596	)	$	(4,141,907	)	$	—
ULTRA-SHORT DURATION GOVERNMENT
Investment Type	Level 1			Level 2			Level 3
Assets
Fixed Income
Mortgage-Backed Obligations	$	—		$	101,666,914		$	—
U.S. Treasury Obligations and/or Other U.S. Government Agencies		101,410,269			33,573,432			—
Asset-Backed Securities		—			62,938,394			—
Government Guarantee Obligations		—			89,363,826			—
Short-term Investments		—			7,200,000			—
Total	$	101,410,269		$	294,742,566		$	—
Derivative Type	Level 1			Level 2			Level 3
Assets
Options Purchased	$	—		$	1,239,832		$	—
Futures Contracts*		382,078			—			—
Interest Rate Swap Contracts		—			289,731			—
Total	$	382,078		$	1,529,563		$	—
Liabilities
Futures Contracts*	$	(139,933	)	$	—		$	—
Interest Rate Swap Contracts		—			(2,631,679	)		—
Total	$	(139,933	)	$	(2,631,679	)	$	—

* Amount shown represents unrealized gain (loss) at period end.

GOLDMAN SACHS SHORT DURATION AND GOVERNMENT FIXED INCOME FUNDS

Schedule of Investments (continued)

June 30, 2011 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

Investments in Derivatives — The Funds may make investments in derivative instruments, including, but not limited to options, futures, swaps, swaptions 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.

     During the period ended June 30, 2011, the Funds entered into certain derivative contract types. These instruments were used to meet the Funds’ investment objectives and to obtain and/or manage exposure related to the risks below. The following tables set forth, by certain risk types, the gross value of these derivative contracts for trading activities as of June 30, 2011. The values in the tables below exclude the effects of cash collateral received or posted pursuant to these derivative contracts, and therefore are not representative of the Funds’ net exposure.

Enhanced Income

Risk	Assets		Liabilities
Interest rate	$	184,995	$	(3,364,867	)(a)
Credit		92,383		—
Total	$	277,378	$	(3,364,867	)

Risk	Fund	Assets		Liabilities
Interest rate	Government Income	$	4,707,575	$	(1,854,148	)(a)
Interest rate	Inflation Protected Securities		972,663		(268,551	)(a)
Interest rate	Short Duration Government		21,276,208		(4,558,503	)(a)
Interest rate	Ultra-Short Duration Government		1,911,641		(2,771,612	)(a)

(a) Aggregate of amounts include $81,159, $898,978, $24,223, $4,141,907, and $2,631,679 for Enhanced Income, Government Income, Inflation Protected Securities, Short Duration Government and Ultra-Short Duration Government Funds, respectively, which represent the payments to be made pursuant to bilateral agreements should counterparties exercise their “right to terminate” provisions based on, among others, the Funds’ performance, their failure to pay on their obligations or failure to pledge collateral. Such amounts do not include incremental charges directly associated with the close-out of the agreements. They also do not reflect the fair value of any assets pledged as collateral which, through the daily margining process, substantially offsets the aforementioned amounts and for which the Funds are entitled to a full return.

Futures Contracts — 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.

GOLDMAN SACHS SHORT DURATION AND GOVERNMENT FIXED INCOME FUNDS

Schedule of Investments (continued)

June 30, 2011 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

Options — When the Funds write call or put options, an amount equal to the premium received is recorded as a liability and is subsequently marked-to-market to reflect the current market value of the option written. Swaptions are options on interest rate swap contracts. Options on a futures contract may be written with premiums to be determined on a future date. The premiums for these options are based upon implied volatility parameters at specified terms. When a written option expires on its stipulated expiration date or the Funds enter into a closing purchase transaction, the Funds realize a gain or loss without regard to any unrealized gain or loss on the underlying future, swap, security or currency transaction, and the liability related to such option is extinguished. When a written call option is exercised, the Funds realize a gain or loss from the sale of the underlying future, swap, security or currency transaction, and the proceeds of the sale are increased by the premium originally received. When a written put option is exercised, the amount of the premium originally received will reduce the cost of the future, swap, security or currency transaction that the Funds purchase upon exercise. There is a risk of loss from a change in value of such options which may exceed the related premiums received. The Funds must set aside liquid assets, or engage in other appropriate measures to cover their obligations under written option contracts.

     Upon the purchase of a call option or a put option by the Funds, the premium paid is recorded as an investment and subsequently marked-to-market to reflect the current market value of the option. Certain options may be purchased with premiums to be determined on a future date. The premiums for these options are based upon implied voluntary parameters at specified terms. If an option which the Funds have purchased expires on the stipulated expiration date, the Funds will realize a loss in the amount of the cost of the option. If the Funds enter into a closing sale transaction, the Funds will realize a gain or loss, depending on whether the sale proceeds for the closing sale transaction are greater or less than the cost of the option. If the Funds exercise a purchased put option, the Funds will realize a gain or loss from the sale of the underlying future, swap, security or currency transaction, and the proceeds from such sale will be decreased by the premium originally paid. If the Funds exercise a purchased call option, the cost of the future, swap, security or currency transaction which the Funds purchase upon exercise will be increased by the premium originally paid. Purchased over the counter options are subject to the risk that the counterparty may default on its obligations, which could result in a loss to the Funds.

Swap Contracts — Swaps are marked to market daily using either pricing vendor quotations, counterparty prices or model prices, and the change in value, if any, is recorded as an unrealized gain or loss. Upfront payments made and/or received by the Funds, are recorded as an asset and/or liability, and realized gains or losses are recognized ratably over the contract’s term/event, with the exception of forward starting interest rate swaps, whose realized gains or losses are recognized ratably from the effective start date. Periodic payments received or made on swap contracts are recorded as realized gains or losses. Gains or losses are realized upon termination of a swap contract and are recorded on the Statements of Operations.

     Risks may arise as a result of the failure of the counterparty to the swap contract to comply with the terms of the swap contract. The loss incurred by the failure of a counterparty is generally limited to the net payment to be received by the Funds and/or the termination value at the end of the contract. Therefore, GSAM considers the creditworthiness of each counterparty to a contract in evaluating potential credit risk. Additionally, risks may arise from unanticipated movements in interest rates or in the value of the underlying reference asset or index. Entering into these agreements involves, to varying degrees, market risk, liquidity risk and elements of credit, legal and documentation risk in excess of amounts recognized in the Statements of Assets and Liabilities. The Funds may pay or receive cash as collateral on these contracts which is recorded as an asset and/or liability. The Funds must set aside liquid assets, or engage in other appropriate measures to cover their obligations under these contracts. The Funds may invest in the following types of swaps:

     An interest rate swap is an agreement that obligates two parties to exchange a series of cash flows at specified intervals, based upon or calculated by reference to changes in specified prices, rates or indices for a specified amount of an underlying asset or notional principal amount. The payment flows are usually netted against each other, with the difference being paid by one party to the other.

     A credit default swap is an agreement that involves one party making a stream of payments to another party in exchange for the right to receive protection on a reference security or obligation. A Fund may use credit default swaps to provide a measure of protection against defaults of the reference security or obligation or to take a short position with respect to the likelihood of default. A Fund’s investment in credit default swaps may involve greater risks than if the Fund had invested in the referenced obligation directly. Credit events are contract specific but may include bankruptcy, failure to pay, restructuring and obligation acceleration. If a Fund buys protection through a credit default swap and no credit event occurs, its payments are limited to the periodic payments previously made to the counterparty. Upon the occurrence of a specified credit event, a Fund, as a buyer of credit protection, is entitled to receive an amount equal to the notional amount of the swap and deliver to the seller the defaulted reference obligation in a physically settled trade. A Fund may also receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap reduced by the recovery value of the reference obligation in a cash settled trade.

     As a seller of protection, a Fund generally receives a payment stream throughout the term of the swap, provided that there is no credit event. In addition, if the Fund sells protection through a credit default swap, the Fund could suffer a loss because the value of the referenced obligation may be less than the premium payments received. Upon the occurrence of a specified credit event, a Fund, as a seller of credit

GOLDMAN SACHS SHORT DURATION AND GOVERNMENT FIXED INCOME FUNDS

Schedule of Investments (continued)

June 30, 2011 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

protection, may be required to take possession of the defaulted reference obligation and pay the buyer an amount equal to the notional amount of the swap in a physically settled trade. A Fund may also pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap reduced by the recovery value of the reference obligation in a cash settled trade. Recovery values are at times established through the credit event auction process in which market participants are ensured that a transparent price has been set for the defaulted security or obligation. In addition, a Fund is entitled to a return of any assets, which have been pledged as collateral to the counterparty.

     The maximum potential amount of future payments (undiscounted) that the Funds as sellers of protection could be required to make under a credit default swap would be an amount equal to the notional amount of the agreement. These potential amounts would be partially offset by any recovery values of the respective referenced obligations or net amounts received from a settlement of a credit default swap for the same reference security or obligation where the Funds bought credit protection.

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

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

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

Mortgage Dollar Rolls — Certain 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 seek 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.

     Pursuant to exemptive relief granted by the Securities and Exchange Commission and terms and conditions contained therein, the Funds, together with other registered investment companies having management agreements with GSAM, or its affiliates, may transfer uninvested cash into joint accounts, the daily aggregate balance of which is invested in one or more repurchase agreements. Under these joint accounts, the Funds’ credit exposure is allocated to the underlying repurchase agreements counterparties on a pro-rata basis. With the exception of certain transaction fees, the Funds are not subject to any expenses in relation to these investments.

GOLDMAN SACHS SHORT DURATION AND GOVERNMENT FIXED INCOME FUNDS

Schedule of Investments (continued)

June 30, 2011 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

JOINT REPURCHASE AGREEMENT ACCOUNT II — At June 30, 2011, the Funds had undivided interests in the Joint Repurchase Agreement Account II, with a maturity date of July 1, 2011, as follows:

					Collateral
	Principal		Maturity		Value
Fund	Amount		Value		Allocation
Enhanced Income	$	96,000,000	$	96,000,205	$	98,017,414
Government Income		186,500,000		186,500,399		190,419,247
Inflation Protected Securities		2,500,000		2,500,005		2,552,537
Short Duration Government		216,200,000		216,200,462		220,743,385
Ultra Short Duration Government		7,200,000		7,200,015		7,351,306

REPURCHASE AGREEMENTS — At June 30, 2011, the Principal Amounts of the Funds’ interest in the Joint Repurchase Agreement Account II were as follows:

								Inflation		Short		Ultra Short
	Interest			Enhanced		Government		Protected		Duration		Duration
Counterparty	Rate			Income		Income		Securities		Government		Government
BNP Paribas Securities Co.		0.080	%	$	34,538,839	$	67,098,890	$	899,448	$	77,784,343	$	2,590,413
Citigroup Global Markets, Inc.		0.080			25,673,650		49,876,413		668,585		57,819,199		1,925,524
JPMorgan Securities		0.050			9,724,867		18,892,581		253,252		21,901,212		729,365
Wells Fargo Securities LLC		0.080			26,062,644		50,632,116		678,715		58,695,246		1,954,698
TOTAL				$	96,000,000	$	186,500,000	$	2,500,000	$	216,200,000	$	7,200,000

At June 30, 2011, the Joint Repurchase Agreement Account II was fully collateralized by:

Issuer	Interest Rates			Maturity Dates
Federal Home Loan Mortgage Corp.		4.000 to 5.000	%	04/01/21 to 06/01/41
Federal National Mortgage Association	3.500 to 6.500			03/01/18 to 07/01/41
Government National Mortgage Association		3.500 to 6.000		02/15/26 to 06/20/41

Treasury Inflation Protected Securities — The Funds may invest in treasury inflation protected securities (“TIPS”), including structured bonds in which the principal amount is adjusted daily to keep pace with inflation, as measured by the U.S. Consumer Pricing Index for Urban Consumers. The adjustments to principal due to inflation/deflation are reflected as increases/decreases to interest income with a corresponding adjustment to cost. Such adjustments may have a significant impact on the Funds’ distributions and may result in a return of capital to shareholders. The repayment of the original bond principal upon maturity is guaranteed by the full faith and credit of the U.S. Government.

When-Issued Securities and Forward Commitments — The Funds may purchase when-issued securities, including TBA (“To Be Announced”) securities that have been authorized, but not yet issued in the market. When-issued securities are purchased in order to secure what is considered to be an advantageous price or yield to the Fund at the time of entering into the transaction. A forward commitment involves entering into a contract to purchase or sell securities, typically on an extended delivery basis, for a fixed price at a future date. The purchase of securities on a when-issued or forward commitment basis involves a risk of loss if the value of the security to be purchased declines before the settlement date. Conversely, the sale of securities on a forward commitment basis involves the risk that the value of the securities sold may increase before the settlement date. Although the Funds will generally purchase securities on a when-issued or forward commitment basis with the intention of acquiring the securities for their portfolios, the Funds may dispose of when-issued securities or forward commitments prior to settlement which may result in a realized gain or loss. When purchasing a security on a when-issued basis or entering into a forward commitment, the Funds must “set aside” liquid assets, or engage in other appropriate measures to “cover” their obligations under these contracts.

GOLDMAN SACHS SHORT DURATION AND GOVERNMENT FIXED INCOME FUNDS

Schedule of Investments (continued)

June 30, 2011 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

Liquidity Risk — The Funds may make investments that may be illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Liquidity risk may also refer to the risk that a Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests, or other reasons. To meet redemption requests, a Fund may be forced to sell investments at an unfavorable time and/or under unfavorable conditions.

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.

Item 2. Controls and Procedures.

(a) The Registrant’s President/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 prior to 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 Act) 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 President/Principal Executive Officer and the Principal Financial Officer of the Registrant as required by Rule 30a-2(a) under the Act (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 Trust
By (Signature and Title)*		/s/ JAMES A. McNAMARA, PRESIDENT/PRINCIPAL EXECUTIVE OFFICER
Date	August 26, 2011

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	August 26, 2011
By (Signature and Title)*		/s/ GEORGE F. TRAVERS, PRINCIPAL FINANCIAL OFFICER
Date	August 26, 2011

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