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        <name>Colorado Health Facilities Authority</name>
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      <invstOrSec>
        <name>Benloch Ranch Improvement Association No. 1</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-12-01</maturityDt>
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      <invstOrSec>
        <name>Grand Oaks Community Development District</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-11-01</maturityDt>
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      <invstOrSec>
        <name>Metropolitan Transportation Authority</name>
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          <isin value="US59261AJY47"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-11-15</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lancaster County Hospital Authority PA</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
        <valUSD>100692.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>San Diego Unified School District CA</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Villa Portofino East Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-05-01</maturityDt>
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      <invstOrSec>
        <name>Chicago Board of Education</name>
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          <isin value="US167505QY58"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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        <name>E-470 Public Highway Authority</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-01</maturityDt>
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        <name>Puerto Rico Commonwealth Aqueduct &amp; Sewer Authority</name>
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        <invCountry>PR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-07-01</maturityDt>
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        <name>Puerto Rico Infrastructure Financing Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <balance>25000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>Portico Community Development District</name>
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          <maturityDt>2037-05-01</maturityDt>
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        <name>Metropolitan Pier &amp; Exposition Authority</name>
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          <maturityDt>2050-06-15</maturityDt>
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        <name>City &amp; County of Denver CO</name>
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        <name>Territory of Guam</name>
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        <name>Virginia Small Business Financing Authority</name>
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        <name>Port Authority of New York &amp; New Jersey</name>
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      <invstOrSec>
        <name>Edinburg Economic Development Corp.</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Summer Woods Community Development District</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Pennsylvania Turnpike Commission</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-12-01</maturityDt>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-12-15</maturityDt>
          <couponKind>None</couponKind>
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        <name>Puerto Rico Commonwealth Aqueduct &amp; Sewer Authority</name>
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        <invCountry>PR</invCountry>
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          <maturityDt>2025-07-01</maturityDt>
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          <annualizedRt>4.25000000</annualizedRt>
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        <name>San Francisco City &amp; County Airport Comm-San Francisco International Airport</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-05-01</maturityDt>
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        <name>Commonwealth of Puerto Rico</name>
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        <invCountry>PR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of Illinois</name>
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        <name>Main Street Natural Gas, Inc.</name>
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        <name>New Jersey Educational Facilities Authority</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <name>Puerto Rico Highway &amp; Transportation Authority</name>
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        <name>Puerto Rico Commonwealth Aqueduct &amp; Sewer Authority</name>
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      <invstOrSec>
        <name>Metropolitan Pier &amp; Exposition Authority</name>
        <lei>254900I3VDCQ58UGBR15</lei>
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          <maturityDt>2054-12-15</maturityDt>
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      <invstOrSec>
        <name>Chicago Board of Education</name>
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          <maturityDt>2026-12-01</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Metropolitan Transportation Authority</name>
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          <isin value="US59261AG435"/>
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          <maturityDt>2050-11-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of Illinois</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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        <name>City of Atlantic City NJ</name>
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          <maturityDt>2032-03-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Rocklin CA</name>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Metropolitan Transportation Authority</name>
        <lei>5493000TKYODLXADQD60</lei>
        <title>Metropolitan Transportation Authority</title>
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          <isin value="US59261AG351"/>
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          <maturityDt>2045-11-15</maturityDt>
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      <invstOrSec>
        <name>Berks County Municipal Authority (The)</name>
        <lei>N/A</lei>
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        <valUSD>100729.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Grand Oaks Community Development District</name>
        <lei>N/A</lei>
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          <isin value="US38611CAD65"/>
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        <curCd>USD</curCd>
        <valUSD>51976.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>Inland Empire Tobacco Securitization Corp.</name>
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          <isin value="US45734TAD63"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-06-01</maturityDt>
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        <name>Puerto Rico Highway &amp; Transportation Authority</name>
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        <invCountry>PR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-07-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>Palm Glades Community Development District</name>
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        <name>Puerto Rico Commonwealth Aqueduct &amp; Sewer Authority</name>
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        <invCountry>PR</invCountry>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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          <maturityDt>2040-07-01</maturityDt>
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        <name>Escambia County Health Facilities Authority</name>
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        <name>Public Finance Authority</name>
        <lei>5493004S6D3NA627K012</lei>
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        <name>Public Finance Authority</name>
        <lei>5493004S6D3NA627K012</lei>
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      <invstOrSec>
        <name>City of Houston TX Airport System Revenue</name>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New Jersey Transportation Trust Fund Authority</name>
        <lei>549300YUVD5TEXR6L889</lei>
        <title>New Jersey Transportation Trust Fund Authority</title>
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          <isin value="US6461364D01"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Guam Government Waterworks Authority</name>
        <lei>N/A</lei>
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          <isin value="US40065FDD33"/>
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        <curCd>USD</curCd>
        <valUSD>86541.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>GU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Illinois</name>
        <lei>54930048FV8RWPR02D67</lei>
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          <isin value="US452227KH33"/>
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        <curCd>USD</curCd>
        <valUSD>151712.05000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Texas Private Activity Bond Surface Transportation Corp.</name>
        <lei>N/A</lei>
        <title>Texas Private Activity Bond Surface Transportation Corp.</title>
        <cusip>882667AM0</cusip>
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          <isin value="US882667AM09"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>207562.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lakewood Ranch Stewardship District</name>
        <lei>N/A</lei>
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          <isin value="US51265KDG04"/>
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        <valUSD>69761.30000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Metropolitan Transportation Authority</name>
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          <isin value="US59261ASZ11"/>
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        <curCd>USD</curCd>
        <valUSD>284977.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-11-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Princeton TX</name>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Metropolitan Transportation Authority</name>
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          <isin value="US59261AG500"/>
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        <curCd>USD</curCd>
        <valUSD>85868.25000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-11-15</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>Commonwealth of Puerto Rico</name>
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        <curCd>USD</curCd>
        <valUSD>21075.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>PR</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Landings at Miami Community Development District</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-11-01</maturityDt>
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          <annualizedRt>4.75000000</annualizedRt>
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        <name>Puerto Rico Electric Power Authority</name>
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        <invCountry>PR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-07-01</maturityDt>
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          <annualizedRt>4.25000000</annualizedRt>
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        <name>New Jersey Educational Facilities Authority</name>
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        <name>City of New Haven CT</name>
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          <maturityDt>2029-08-01</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>Chicago Board of Education</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>Golden State Tobacco Securitization Corp.</name>
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          <isin value="US38122NPD83"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <invCountry>PR</invCountry>
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          <maturityDt>2024-07-01</maturityDt>
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      <invstOrSec>
        <name>New Jersey Transportation Trust Fund Authority</name>
        <lei>549300YUVD5TEXR6L889</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-06-15</maturityDt>
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      <invstOrSec>
        <name>Mission Economic Development Corp.</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>City of Princeton TX</name>
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      <invstOrSec>
        <name>Stoneybrook South at Championsgate Community Development District</name>
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        <name>Palm Glades Community Development District</name>
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          <maturityDt>2024-05-01</maturityDt>
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          <annualizedRt>3.25000000</annualizedRt>
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      <invstOrSec>
        <name>Preserve at South Branch Community Development District</name>
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          <isin value="US74082PAF71"/>
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        <valUSD>98292.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>Florida Higher Educational Facilities Financial Authority</name>
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        <title>Florida Higher Educational Facilities Financial Authority</title>
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          <isin value="US34073TKB25"/>
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        <valUSD>157728.00000000</valUSD>
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          <maturityDt>2047-03-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Aviary at Rutland Ranch Community Development District</name>
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          <isin value="US05369FAA84"/>
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          <maturityDt>2024-06-01</maturityDt>
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      <invstOrSec>
        <name>Florida Development Finance Corp.</name>
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          <isin value="US34061YAC49"/>
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        <valUSD>88142.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-01-01</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>New York City Housing Development Corp.</name>
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          <maturityDt>2048-02-15</maturityDt>
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        <name>State of Illinois</name>
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        <name>Highland Meadows West Community Development District</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <invCountry>PR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-07-01</maturityDt>
          <couponKind>None</couponKind>
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        <name>Landmark at Doral Community Development District</name>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Tulsa Airports Improvement Trust</name>
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        <name>Dallas-Fort Worth International Airport</name>
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          <maturityDt>2023-11-01</maturityDt>
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        <name>Arizona Health Facilities Authority</name>
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        <name>South Kendall Community Development District</name>
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        <name>Glendale Industrial Development Authority</name>
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        <name>Buckeye Tobacco Settlement Financing Authority</name>
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        <name>Capital Trust Agency, Inc.</name>
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        <name>Michigan Finance Authority</name>
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        <name>Oneida County Local Development Corp.</name>
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        <name>Capital Trust Agency, Inc.</name>
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      <invstOrSec>
        <name>Austin Convention Enterprises, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Chicago Board of Education</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-12-01</maturityDt>
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        <name>Commonwealth of Puerto Rico</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-01</maturityDt>
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      <invstOrSec>
        <name>California Public Finance Authority</name>
        <lei>N/A</lei>
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          <isin value="US13057HAU14"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-06-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Evans Farm New Community Authority</name>
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          <isin value="US29916QAB05"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-12-01</maturityDt>
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          <annualizedRt>3.75000000</annualizedRt>
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      <invstOrSec>
        <name>Lower Colorado River Authority</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>New York State Dormitory Authority</name>
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        <title>New York State Dormitory Authority</title>
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          <isin value="US64990GZL93"/>
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        <balance>250000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Illinois</name>
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        <balance>155000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-06-01</maturityDt>
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          <annualizedRt>5.10000000</annualizedRt>
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      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <invCountry>PR</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-01</maturityDt>
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        <name>Puerto Rico Infrastructure Financing Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>North Carolina Turnpike Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Public Finance Authority</name>
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          <maturityDt>2030-11-01</maturityDt>
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          <annualizedRt>4.30000000</annualizedRt>
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        <name>New York Transportation Development Corp.</name>
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          <isin value="US650116CF12"/>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of Detroit MI</name>
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        <name>West Port Community Development District</name>
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        <name>Denver Health &amp; Hospital Authority</name>
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        <name>E-470 Public Highway Authority</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <name>Estrella Mountain Ranch Community Facilities District</name>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <name>Century Gardens at Tamiami Community Development District</name>
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        <name>Chicago Board of Education</name>
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        <name>Buckeye Tobacco Settlement Financing Authority</name>
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        <name>William S Hart Union High School District</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <name>Escambia County Health Facilities Authority</name>
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      <invstOrSec>
        <name>City of Springfield IL Electric Revenue</name>
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      <invstOrSec>
        <name>County of Jefferson AL Sewer Revenue</name>
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        <name>South Sloan's Lake Metropolitan District No. 2</name>
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        <name>City of Chicago IL</name>
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        <name>Talis Park Community Development District</name>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <name>Sales Tax Securitization Corp.</name>
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        <name>Tobacco Settlement Financing Corp. VA</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <name>Houston County Health Care Authority</name>
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      <invstOrSec>
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        <name>State of Illinois</name>
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        <name>Indiana Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-11-01</maturityDt>
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        <name>City of Chicago IL</name>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>LCH Clearnet</counterpartyName>
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        <name>University Park Recreation District</name>
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        <name>Hospitals &amp; Higher Education Facilities Authority of Philadelphia (The)</name>
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        <name>Spartanburg Regional Health Services District</name>
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        <name>Puerto Rico Infrastructure Financing Authority</name>
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        <name>Northern Tobacco Securitization Corp.</name>
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    <signature>
      <ncom:dateSigned>2020-07-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Goldman Sachs Trust</ncom:nameOfApplicant>
      <ncom:signature>Peter Fortner</ncom:signature>
      <ncom:signerName>Peter Fortner</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
