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      <invstOrSec>
        <name>Goldman Sachs Global Infrastructure Fund</name>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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      <invstOrSec>
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        <name>Options Clearing Corp.</name>
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        <name>Options Clearing Corp.</name>
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        <name>Goldman Sachs International Small Cap Insights Fund</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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      <invstOrSec>
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        <name>Options Clearing Corp.</name>
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      <invstOrSec>
        <name>Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Options Clearing Corp.</name>
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      <invstOrSec>
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        <name>Options Clearing Corp.</name>
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            <expDate>2021-03-19</expDate>
            <notionalAmt>99021913.29000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>2570566.71000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
        <lei>SNZ2OJLFK8MNNCLQOF39</lei>
        <title>IMM EUR FUT OPT SEP21C 98.25 EXP 09/13/2021</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="ADI1CJ1R6"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>395000.00000000</valUSD>
        <pctVal>0.047787316194</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Chicago Mercantile Exchange</counterpartyName>
              <counterpartyLei>SNZ2OJLFK8MNNCLQOF39</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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              <nestedDerivInfo>
                <futrDeriv derivCat="FUT">
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                    <counterpartyName>ICE Futures Europe</counterpartyName>
                    <counterpartyLei>549300UF4R84F48NCH34</counterpartyLei>
                  </counterparties>
                  <derivAddlInfo>
                    <name>ICE Futures Europe</name>
                    <lei>549300UF4R84F48NCH34</lei>
                    <title>Eurodollar Time Deposit Future</title>
                    <cusip>N/A</cusip>
                    <identifiers>
                      <other otherDesc="Internal Identifier" value="ADI1CJ1R6E"/>
                    </identifiers>
                    <balance>100.00000000</balance>
                    <units>NC</units>
                    <curCd>N/A</curCd>
                    <valUSD>395000.00000000</valUSD>
                    <pctVal>0.05000000</pctVal>
                    <assetCat>DIR</assetCat>
                    <issuerConditional desc="derivative" issuerCat="OTHER"/>
                    <invCountry>US</invCountry>
                  </derivAddlInfo>
                  <payOffProf>Long</payOffProf>
                  <descRefInstrmnt>
                    <indexBasketInfo>
                      <indexName>Eurodollar Time Deposit</indexName>
                      <indexIdentifier>EDU1 Comdty</indexIdentifier>
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                  <expDate>2021-09-13</expDate>
                  <notionalAmt>100.00000000</notionalAmt>
                  <curCd>USD</curCd>
                </futrDeriv>
              </nestedDerivInfo>
            </descRefInstrmnt>
            <shareNo>2500.00000000</shareNo>
            <exercisePrice>98.25000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2021-09-13</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>276805.49000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Goldman Sachs International Equity Insights Fund</name>
        <lei>RP210Q47MZG236IVQP58</lei>
        <title>Goldman Sachs International Equity Insights Fund</title>
        <cusip>38147X242</cusip>
        <identifiers>
          <isin value="US38147X2421"/>
        </identifiers>
        <balance>4861213.59300000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>66793074.77000000</valUSD>
        <pctVal>8.080662743418</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>PURCHASED USD / SOLD DKK</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="20LTKBB9TNG"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="DKK" exchangeRt="6.08194533"/>
        <valUSD>584.78000000</valUSD>
        <pctVal>0.000070747004</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO. LLC</counterpartyName>
              <counterpartyLei>9R7GPTSO7KV3UQJZQ078</counterpartyLei>
            </counterparties>
            <amtCurSold>1270000.00000000</amtCurSold>
            <curSold>DKK</curSold>
            <amtCurPur>209399.55000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2021-03-17</settlementDt>
            <unrealizedAppr>584.78000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>S+P 500 INDEX JAN21 3825 CALL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="ADI1TVYF1"/>
        </identifiers>
        <balance>-9.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-29970.00000000</valUSD>
        <pctVal>-0.00362578700</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Options Clearing Corp.</counterpartyName>
              <counterpartyLei>549300CII6SLYGKNHA04</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 Index</indexName>
                <indexIdentifier>SPX Index</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>3825.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2021-01-27</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-3780.47000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>

    </explntrNotes>
    <signature>
      <ncom:dateSigned>2021-01-28</ncom:dateSigned>
      <ncom:nameOfApplicant>GOLDMAN SACHS TRUST</ncom:nameOfApplicant>
      <ncom:signature>Peter Fortner</ncom:signature>
      <ncom:signerName>Peter Fortner</ncom:signerName>
      <ncom:title>Vice President</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
