SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 11-K

ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

☒	Annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934
	For the fiscal year ended December 31, 2017.
		Or
☐	Transition report Pursuant to Section 15(d) of the Securities Exchange Act of 1934
	For the transition period from	to

Commission file number 001-14965

A. Full title of the plan and the address of the plan, if different from that of issuer named below:

THE GOLDMAN SACHS 401(k) PLAN

B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

THE GOLDMAN SACHS GROUP, INC

200 West Street

New York, NY 10282

THE GOLDMAN SACHS 401(K) PLAN

Financial Statements and Supplemental Schedules

as of December 31, 2017 and 2016

(With Independent Registered Public Accounting

Firm’s Report)

THE GOLDMAN SACHS 401(K) PLAN

Financial Statements and Supplemental Schedules

INDEX

	Page No.
Report of Independent Registered Public Accounting Firm		1
Financial Statements		2
Statements of Net Assets Available for Benefits		2
Statements of Changes in Net Assets Available For Benefits		3
Notes to Financial Statements		4
Note 1.   Plan Description		4
Note 2.   Summary of Significant Accounting Policies		5
Note 3.   Investments at Fair Value		7
Note 4.   Fair Value Measurements		7
Note 5.   Related Party Transactions and Party-In-Interest Transactions		10
Note 6.   Plan Termination		10
Note 7.   Income Tax Status		10
Note 8.   Reconciliation of Financial Statements to Form 5500		10
Note 9.    Financial Instruments with Off-Balance-Sheet Risk		11
Supplemental Schedules*		13
Schedule H, Line 4i — Schedule of Assets (Held at End of Year)		13
Schedule H, Line 4i — Schedule of Assets (Acquired and Disposed of Within Year)		37
Schedule H, Line 4j — Schedule of Reportable Transactions		41
Signatures
Index to Exhibits
Consent of PricewaterhouseCoopers LLP
Ex-23: Consent of PricewaterhouseCoopers LLP

* All other schedules required by 29 CFR §2520.103-10 of the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974, as amended, are not included because they are not applicable.

Report of Independent Registered Public Accounting Firm

To the Administrator and Participants of The Goldman Sachs 401(k) Plan:

Opinion on the Financial Statements

We have audited the accompanying statements of net assets available for benefits of The Goldman Sachs 401(k) Plan (the “Plan”) as of December 31, 2017 and 2016, and the related statements of changes in net assets available for benefits for the years then ended, including the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2017 and 2016, and the changes in net assets available for benefits for the years then ended in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of financial statements. We believe that our audits provide a reasonable basis for our opinion.

Supplemental Information

The supplemental schedule of assets (held at end of year) as of December 31, 2017, schedule of assets (acquired and disposed of within year) for the year ended December 31, 2017 and schedule of reportable transactions for the year ended December 31, 2017 have been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental schedules are the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental schedules reconcile to the financial statements or the underlying accounting and other records, as applicable and performing procedures to test the completeness and accuracy of the information presented in the supplemental schedules. In forming our opinion on the supplemental schedules, we evaluated whether the supplemental schedules, including their form and content, are presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental schedules are fairly stated, in all material respects, in relation to the financial statements as a whole.

/s/ PricewaterhouseCoopers LLP

New York, NY

June 21, 2018

We have served as the Plan’s auditor since at least 1983. We have not determined the specific year we began serving as auditor of the Plan.

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THE GOLDMAN SACHS 401(K) PLAN

Statements of Net Assets Available for Benefits

	As of December
$ in thousands		2017	2016
Assets
Investment assets at fair value (Note 3)		$7,438,898	$6,615,542
Receivables:
Employee contributions		5,897	5,695
Employer contributions		105,498	103,694
Notes receivable from participants		26,798	26,542
Interest and dividends		6,444	4,799
Due from brokers and other receivables		115,775	112,928
Total receivables		260,412	253,658
Total assets		$7,699,310	$6,869,200
Liabilities
Investment liabilities at fair value (Note 3)		$     42,023	$     47,961
Due to brokers and other payables		89,787	22,651
Accrued expenses		3,592	3,906
Total liabilities		135,402	74,518
Net assets available for benefits		$7,563,908	$6,794,682

The accompanying notes are an integral part of these financial statements.

2

THE GOLDMAN SACHS 401(K) PLAN

Statements of Changes in Net Assets Available for Benefits

	Year Ended December
$ in thousands		2017		2016
Additions
Investment income:
Net appreciation in the fair value of investments		$   919,963		$   433,627
Interest and dividends		69,857		86,062
Less: Investment management fees and other expenses		(12,880	)	(26,747	)
Total investment income		976,940		492,942
Interest income on notes receivable from participants		1,125		1,074
Contributions:
Employee		211,153		203,873
Employer		105,498		103,694
Total contributions		316,651		307,567
Total additions		1,294,716		801,583
Deductions
Benefits paid		525,490		449,172
Total deductions		525,490		449,172
Net increase in net assets available for benefits		769,226		352,411
Net assets available for benefits, beginning of the year		6,794,682		6,442,271
Net assets available for benefits, end of the year		$7,563,908		$6,794,682

The accompanying notes are an integral part of these financial statements.

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THE GOLDMAN SACHS 401(K) PLAN

Notes to Financial Statements

Note 1.

Plan Description

The following description of The Goldman Sachs 401(k) Plan (the Plan) is provided for general information purposes only. The Plan sponsor is The Goldman Sachs Group, Inc. (the firm). Participants should refer to the Plan document, as most recently amended and restated effective January 1, 2016, for a more complete description of the Plan’s provisions. Items referenced in italics are defined in the Plan document.

The Plan became effective on January 1, 1945 as the “Goldman Sachs Employees’ Profit Sharing Retirement Income Plan” and is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (ERISA). Effective January 1, 2008, the Goldman Sachs Employees’ Profit Sharing Retirement Income Plan was amended to incorporate a 401(k) safe harbor design, and was renamed “The Goldman Sachs 401(k) Plan.” The Plan has been subsequently amended for various reasons, including to reflect changes in law.

General

The Plan is a defined contribution plan to which participants may elect to make pre-tax, and “Roth” after-tax, contributions each year from their 401(k) Compensation (as determined under the Plan), and to which they can roll over amounts from certain other qualified retirement arrangements. The Plan’s Plan Year is the 12-month period commencing on January 1 and ending on the following December 31. The Plan offers a dollar-for-dollar Firm Matching Contribution on participants’ elective deferrals of up to 4% of their Safe Harbor Compensation, up to applicable statutory limitations. If 4% of an eligible participant’s Safe Harbor Compensation is less than $6,000, the firm will allocate a Supplemental Contribution equal to the difference. In addition to these contributions, the firm will allocate to each eligible participant an Additional Retirement Contribution of up to $4,000. Collectively, the Firm Matching Contribution, Supplemental Contribution and Additional Retirement Contribution are herein referred to as the Firm Contributions.

The Plan has two named fiduciaries, the Retirement Committee and the Administrative Committee. The Retirement Committee has the power to appoint one or more investment managers, as well as certain other duties relating to the investment of the funds held by the trustee. The Administrative Committee is responsible for administering the terms and provisions of the Plan. In general, each committees’ members are employees of the firm or its affiliates, although in certain cases non-employees may serve on either committee. Rocaton Investment Advisors is the Retirement Committee’s investment advisor. Participants direct their contributions and the Firm Contributions into various investment options available from time to time under the Plan through the Goldman Sachs Profit Sharing Master Trust (the Master Trust). The Plan is the sole investor in the Master Trust. Participants’ directed investments can be allocated to mutual funds, collective trusts, separately managed accounts and a bank deposit account. Alight Solutions, formerly Hewitt Associates, LLC, is the Plan’s record keeper.

The Plan offers participants the option to invest in the Company Stock Fund, which is a separately managed account that primarily invests in shares of the firm’s common stock. In accordance with a policy adopted by the Retirement Committee, no more than 20% of any contribution made on behalf of each participant can be invested in the Company Stock Fund. When a participant reallocates his or her total investment balance, he or she is limited to reallocating 20% of his or her total investment balance into the Company Stock Fund. In addition, participants are restricted from transferring into or out of the Company Stock Fund during certain periods in accordance with the firm’s compliance procedures designed to avoid violations of applicable securities laws.

Eligibility

Employees become eligible to make pre-tax, and “Roth” after-tax, contributions to the Plan as of the first day of the month after they join the firm or its affiliates as eligible employees. In addition, employees are eligible, as determined under the Plan document, to participate in the Firm Matching Contributions and Supplemental Contributions generally as of the first day of the month after they complete both one Year of Service, as defined, and attain age 21. In addition, to be eligible for the Supplemental Contribution, the employee must be employed on the last day of the firm’s fiscal year that ends with or within the Plan Year.

Generally, to be eligible for the Additional Retirement Contribution, employees must have been (i) eligible for benefits under the Goldman Sachs Employees’ Pension Plan as of November 26, 2004, (ii) age 46 or older as of November 26, 2004, and (iii) employed by the firm or its affiliates as of the last day of the current fiscal year.

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THE GOLDMAN SACHS 401(K) PLAN

Notes to Financial Statements

Vesting

Participants are immediately fully vested in their own 401(k) contributions, the Firm Matching Contributions and Supplemental Contributions, and the earnings thereon. Participants became fully vested after three Years of Service in the Firm Profit Sharing Contributions (which were discretionary profit sharing contributions made by the firm prior to January 1, 2008) and Additional Retirement Contributions, and the net earnings thereon. Additionally, upon the earliest to occur of: (i) attainment of age 65 while employed by the firm or its affiliates, (ii) disability retirement, (iii) death or (iv) Plan termination, each participant or beneficiary will be 100% vested and may receive a lump-sum amount equal to the value of the funds or a portion thereof allocated to the participant’s account or may receive periodic distributions from the Plan.

Benefits

Any benefits provided by the Plan are paid from net assets available for benefits. The benefit to which a Plan participant is entitled equals the amount that can be provided by the vested contributions and net earnings (or losses) thereon (including net realized and unrealized investment appreciation and depreciation) allocated to such participant’s account.

Notes Receivable from Participants

A participant in the Plan is permitted to borrow between $1,000 and $50,000, reduced by (i) the highest outstanding balance of loans to such participant from the Plan during the one-year period ending on the day before the date on which such new loan is made, less (ii) the outstanding balance of loans to such participant from the Plan on the date of such new loan, subject to an overall cap of the lesser of (a) one-half of the participant’s total vested account balance (including Firm Contributions) or (b) the balance in the participant’s 401(k) and rollover contribution accounts. A participant may not borrow any amounts attributable to the Firm Contributions. Interest on loans is fixed at the U.S. prime rate plus one percent for the life of the respective loan. Loans generally must be repaid within five years, or in some cases, ten years. Loans are repaid (principal and interest) and added back to participants’ account balances generally through regular after-tax payroll deductions.

Trust Agreement

The Plan’s investments are owned by the Master Trust, which is subject to a trust agreement (the Trust Agreement) with State Street Bank and Trust Company (the Trustee).

Note 2.

Summary of Significant Accounting Policies

Basis of Presentation

These financial statements are prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP).

All references to 2017 and 2016 refer to the Plan’s years ended, or the dates, as the context requires, December 31, 2017 and December 31, 2016, respectively. Certain reclassifications have been made to previously reported amounts to conform to the current presentation.

Use of Estimates

Preparation of these financial statements requires management to make certain estimates and assumptions, the most important of which relates to fair value measurements of the Plan’s investments. These estimates and assumptions are based on the best available information, but actual results could be materially different.

Payment of Benefits

Benefits are recorded when paid.

Notes Receivable from Participants

Participant loans are measured at their unpaid principal balance, plus any accrued but unpaid interest.

Risks and Uncertainties

Investments are exposed to various risks, such as interest rate, market and credit risk. Due to the level of risk associated with certain investments and the level of uncertainty related to changes in the value of investments, it is possible that changes in risks in the near term could materially affect participants’ account balances and the amounts reported in the statements of net assets available for benefits and the statements of changes in net assets available for benefits.

Expenses

Investment management fees charged by managers of mutual funds are borne by the Plan, and are included in net appreciation in the fair value of investments. Investment management fees charged by managers of collective trusts are borne by the Plan, and are included in net appreciation in the fair value of investments or investment management fees and other expenses based on the underlying trust agreements.

Investment management fees charged by managers of separately managed accounts are borne by the Plan, and are included in investment management fees and other expenses. The investment managers of the Multi-Market Hedge Fund Option, Multi-Strategy Hedge Fund Option, and Global Equity Long-Short Hedge Fund Option each charge an investment management fee that consists of a fixed asset-based management fee plus an annual incentive fee ranging from 15% to 20% of the net investment income earned above the fund’s high-water mark, if any, by each fund option. Effective August 31, 2016, the Plan discontinued the Multi-Strategy Hedge Fund Option. Effective October 31, 2016, the Plan discontinued the Multi-Market Hedge Fund Option. No investment management or incentive fees were incurred in connection with the discontinued funds, in each case, after the date of discontinuance.

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THE GOLDMAN SACHS 401(K) PLAN

Notes to Financial Statements

Other expenses borne by the Plan, unless paid by the firm, consist of custodial, administrative, and investment advisory fees. Investment advisory fees are paid to Rocaton Investment Advisors, who advise the Retirement Committee on the selection and oversight of Plan investments. These Plan expenses, unless paid by the firm, are included in investment management fees and other expenses.

Investments

The investments of the Plan are reported at fair value.

The Bank Deposit option is a deposit obligation of Goldman Sachs Bank USA (GS Bank USA), a Federal Deposit Insurance Corporation (FDIC) insured New York State-chartered bank and a member of the Federal Reserve System. The Bank Deposit option offers an FDIC-insured deposit with a floating rate coupon indexed to the Federal Funds Rate.

Mutual funds and collective trust funds represent investments with various investment managers. Mutual funds are valued based on the quoted net asset value per share held. Collective trust funds are valued based on the net asset value per unit as reported by the investment managers.

Investments within separately managed accounts are described below:

Cash and cash equivalents include cash and certain short-term interest-bearing investments.

Securities purchased under agreements to resell (resale agreements) are transactions in which the Plan purchases financial instruments from a seller, typically in exchange for cash, and simultaneously enters into an agreement to resell the same or substantially the same financial instruments to the seller at a stated price plus accrued interest at a future date.

Even though resale agreements involve the legal transfer of ownership of financial instruments, they are accounted for as financing arrangements because they require the financial instruments to be resold at the maturity of the agreement. The financial instruments purchased in resale agreements typically include U.S. government and federal agency obligations, investment-grade sovereign obligations, corporate debt securities and equity and convertible debentures.

The Plan receives financial instruments purchased under resale agreements. To mitigate credit exposure, the investment managers monitor the market value of the resale agreements on a daily basis, and deliver or obtain additional collateral due to changes in the market value of the financial instruments, as appropriate. For resale agreements, the Plan typically requires collateral with a fair value approximately equal to the carrying value of the relevant assets in the statements of net assets available for benefits.

Fixed income securities, common stock, preferred stock, real estate investment trusts, and interests in exchange-traded options and futures contracts traded in active markets are valued at closing prices on the last business day of each period presented. Securities traded in markets that are not considered active are valued based on broker or dealer quotations or alternative pricing sources with reasonable levels of price transparency. Securities that trade infrequently and therefore have little or no price transparency are valued using the investment managers’ (or independent third parties on behalf of the investment manager’s) best estimate of fair value.

Mutual funds, as described above, may also be investments held within separately managed accounts.

Forward foreign currency contracts are valued at fair value, as determined by the investment managers (or independent third parties on behalf of the investment managers), using quoted forward foreign currency exchange rates. At the end of each period presented, open contracts are valued at the current forward foreign currency exchange rates and the change in market value is recorded as an unrealized gain or loss. When the contract is closed or delivery taken, the Plan records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.

Swap contracts are valued at fair value, as determined by the investment managers (or independent third parties on behalf of the investment managers) utilizing their proprietary models and taking into consideration exchange quotations on underlying instruments, dealer quotations and other market information.

See Note 9 for further information about derivatives.

Investments denominated in currencies other than the U.S. dollar are translated using exchange rates prevailing at the end of the periods presented. Purchases and sales of these investments are translated at the rate of exchange on the respective dates of such transactions.

Interest income and expense are recorded on an accrual basis. Dividend income is recorded on the ex-dividend date.

Purchases and sales of the investments within the Plan are reflected on a trade-date basis.

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THE GOLDMAN SACHS 401(K) PLAN

Notes to Financial Statements

Due from Brokers and Other Receivables and Due to Brokers and Other Payables

Due from brokers and other receivables includes cash balances held with brokers, receivables from unsettled sales transactions, and collateral posted in connection with certain derivative transactions. Amounts due from brokers may be restricted to the extent that they serve as deposits for securities sold, but not yet purchased. Due to brokers and other payables includes payables from unsettled purchase transactions, collateral received in connection with certain derivative transactions, and margin loans payable. Certain of the Plan’s securities held by the clearing brokers or prime brokers are pledged to the brokers on terms that permit them to repledge the securities to others, subject to certain limitations. Securities held at custodians under custody agreements cannot be repledged to others by the custodian.

Recent Accounting Developments

Employee Benefit Plan Master Trust Reporting. In February 2017, the FASB issued ASU No. 2017-06, “Defined Contribution Pension Plans (Topic 962) — Employee Benefit Plan Master Trust Reporting.” This ASU amends certain presentation and disclosure requirements for a plan’s interests in master trusts. The ASU is effective for the firm in January  2019 under a retrospective approach. Early adoption is permitted. The firm is still evaluating the impact of this ASU.

Note  3.

Investments at Fair Value

The table below presents a summary of the fair value of the Plan’s investments.

	As of December
$ in thousands		2017	2016
Assets
Bank deposit		$   255,785	$   267,275
Mutual funds		1,351,318	1,942,886
Collective trusts		3,417,883	2,720,675
Separately managed accounts:
Cash and cash equivalents		2,477	4,296
Certificates of deposit		–	2,200
Securities purchased under agreements to resell		40,500	32,098
Fixed income securities		307,965	249,326
Common and preferred stocks		1,784,284	1,115,757
Mutual funds		12,587	14,626
Real estate investment trusts		259,525	258,331
Derivatives		6,574	8,072
Total separately managed accounts		2,413,912	1,684,706
Total investment assets		$7,438,898	$6,615,542
Liabilities
Separately managed accounts:
Derivatives		$       5,420	$       6,075
Investments sold, but not yet purchased, at fair value:
Common and preferred stocks		33,882	40,886
Real estate investment trusts		2,721	1,000
Total investment liabilities		$     42,023	$     47,961

Note 4.

Fair Value Measurements

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. Financial instruments are marked at closing prices. Fair value measurements do not include transaction costs.

The best evidence of fair value is a quoted price in an active market. If quoted prices in active markets are not available, fair value is determined by reference to prices for similar instruments, quoted prices or recent transactions in less active markets, or internally developed models that primarily use market-based or independently sourced parameters as inputs including, but not limited to, interest rates, volatilities, equity or debt prices, foreign exchange rates, commodity prices, credit spreads, and funding spreads (i.e., the spread, or difference, between the interest rate at which a borrower could finance a given financial instrument relative to a benchmark interest rate).

U.S. GAAP has a three-level hierarchy for disclosure of fair value measurements. The hierarchy prioritizes inputs to the valuation techniques used to measure fair value, giving the highest priority to level 1 inputs and the lowest priority to level 3 inputs. A financial instrument’s level in this hierarchy is based on the lowest level of input that is significant to its fair value measurement. The fair value hierarchy is as follows:

Level 1. Inputs are unadjusted quoted prices in active markets to which the Plan had access at the measurement date for identical, unrestricted assets or liabilities.

Level 2. Inputs to valuation techniques are observable, either directly or indirectly.

Level 3. One or more inputs to valuation techniques are significant and unobservable.

The investment managers and custodian, on behalf of the Plan, use independent pricing sources to value Plan assets traded on exchanges and independent quoted prices or developed models for all assets not traded on exchanges. Investment managers review their valuation approaches on an ongoing basis and revise as necessary based on changing market conditions to ensure their valuations represent fair value. Subsequently, the Plan uses other methodologies to determine fair value (e.g., relevant broker quotations), which vary based on the type of instrument.

Level 1 Investments

Level 1 investments include bank deposit, mutual funds, collective trusts, and within separately managed accounts, cash and cash equivalents, certain fixed income securities, common and preferred stocks, mutual funds and real estate investment trusts. These instruments are valued using quoted market prices for identical unrestricted instruments in active markets.

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THE GOLDMAN SACHS 401(K) PLAN

Notes to Financial Statements

The Plan defines active markets for equity instruments based on the average daily trading volume both in absolute terms and relative to the market capitalization for the instrument. The Plan defines active markets for debt instruments based on both the average daily trading volume and the number of days with trading activity.

Level 2 Investments

Level 2 investments include certificates of deposit, securities purchased under agreements to resell, certain fixed income securities and derivatives within separately managed accounts.

The valuation of level 2 investments can be verified to quoted prices, recent trading activity for identical or similar instruments, broker or dealer quotations or alternative pricing sources with reasonable levels of price transparency. Consideration is given to the nature of the quotations (e.g. indicative or firm), and the relationship of recent market activity to the prices provided from alternative pricing sources.

Level 3 Investments

Level 3 investments have one or more significant valuation inputs that are not observable. Absent evidence to the contrary, level 3 instruments are initially valued at transaction price, which is considered to be the best initial estimate of fair value. Subsequently, the Plan uses other methodologies to determine fair value, which vary based on the type of instrument and include relevant broker quotations. Valuation inputs and assumptions are changed when corroborated by substantive observable evidence, including values realized on sales of financial assets.

Total Plan investment assets at fair value classified within level 3 as of December 2017 and December 2016 were not material.

See Notes 2 and 3 for further information about investments at fair value.

Fair Value of Investment Assets and Investment Liabilities by Level

The tables below present investment assets and investment liabilities of the Plan at fair value by level within the fair value hierarchy.

	As of December 2017
$ in thousands		Level 1		Level 2		Level 3	Total
Assets
Bank deposit		$   255,785		$           –		$       –	$   255,785
Mutual funds		1,351,318		–		–	1,351,318
Collective trusts		3,417,883		–		–	3,417,883
Separately managed accounts:
Cash and cash equivalents		2,477		–		–	2,477
Certificates of deposit		–		–		–	–
Securities purchased under agreements to resell		–		40,500		–	40,500
Fixed income securities		125,385		182,313		267	307,965
Common and preferred stocks		1,784,284		–		–	1,784,284
Mutual funds		12,587		–		–	12,587
Real estate investment trusts		259,525		–		–	259,525
Derivatives		–		6,574		–	6,574
Total separately managed accounts		$2,184,258		$229,387		$   267	$2,413,912
Total investment assets		$7,209,244		$229,387		$   267	$7,438,898
Liabilities
Separately managed accounts:
Derivatives		$              –		$   (5,420	)	$       –	$      (5,420	)
Investments sold, but not yet purchased, at fair value
Common and preferred stocks		(33,882	)	–		–	(33,882	)
Real estate investment trusts		(2,721	)	–		–	(2,721	)
Total investment liabilities		$    (36,603	)	$   (5,420	)	$       –	$    (42,023	)
	As of December 2016
$ in thousands		Level 1		Level 2		Level 3	Total
Assets
Bank deposit		$   267,275		$           –		$       –	$   267,275
Mutual funds		1,942,886		–		–	1,942,886
Collective trusts		2,720,675		–		–	2,720,675
Separately managed accounts:
Cash and cash equivalents		4,296		–		–	4,296
Certificates of deposit		–		2,200		–	2,200
Securities purchased under agreements to resell		–		32,098		–	32,098
Fixed income securities		108,343		137,218		3,765	249,326
Common and preferred stocks		1,114,310		–		1,447	1,115,757
Mutual funds		14,626		–		–	14,626
Real estate investment trusts		258,331		–		–	258,331
Derivatives		–		8,072		–	8,072
Total separately managed accounts		$1,499,906		$179,588		$5,212	$1,684,706
Total investment assets		$6,430,742		$179,588		$5,212	$6,615,542
Liabilities
Separately managed accounts:
Derivatives		$              –		$   (6,075	)	$       –	$      (6,075	)
Investments sold, but not yet purchased, at fair value
Common and preferred stocks		(40,886	)	–		–	(40,886	)
Real estate investment trusts		(1,000	)	–		–	(1,000	)
Total investment liabilities		$    (41,886	)	$   (6,075	)	$       –	$    (47,961	)

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THE GOLDMAN SACHS 401(K) PLAN

Notes to Financial Statements

In the tables above:

• Investment assets are shown as positive amounts and investment liabilities are shown as negative amounts.

• Mutual funds within separately managed accounts consist of money market funds, exchange traded funds and investment in funds that primarily consist of fixed income securities.

• As of both December 2017 and December 2016, the Plan’s level 3 fixed income securities principally consisted of collateralized debt obligations. As of December 2016, the Plan’s level 3 common and preferred stocks consisted of private equity investments.

Transfers Between Levels of the Fair Value Hierarchy

Transfers between levels of the fair value hierarchy are reported at the beginning of the reporting period in which they occur. See “Level 3 Rollforward” below for information about transfers between level 2 and level 3.

During 2017, transfers into level 2 from level 1 of investment assets were $1.6 million, reflecting transfers relating to fixed income securities due to reduced price transparency. Transfers into level 1 from level 2 of investment assets during 2017 were $2.2 million, reflecting transfers relating to fixed income securities due to increased price transparency.

During 2016, transfers into level 2 from level 1 of investment assets were $3.9 million, primarily reflecting transfers relating to certain commodity and currency derivatives due to reduced price transparency. There were no transfers into level 1 from level 2 of investment assets.

Level 3 Rollforward

The table below presents a summary of the changes in fair value for level 3 investment assets.

	Year Ended December
$ in thousands		2017		2016
Total investment assets
Beginning balance		$ 5,212		$ 88,475
Net realized gains/(losses)		–		5,765
Net unrealized gains/(losses)		13		309
Purchases		–		653
Sales		(3,956	)	(87,397	)
Settlements		(55	)	–
Transfers out of level 3		(947	)	(2,593	)
Ending balance		$    267		$   5,212

In the table above:

• Changes in fair value are presented for all investment assets that are classified in level 3 as of the end of the period.

• Net unrealized gains/(losses) relates to investment assets still held at period-end.

• For level 3 investment assets, increases are shown as positive amounts, while decreases are shown as negative amounts.

The table below disaggregates, by product type, the information for investment assets included in the summary table above.

	Year Ended December
$ in thousands		2017		2016
Fixed income securities
Beginning balance		$ 3,765		$ 79,576
Net realized gains/(losses)		–		5,226
Net unrealized gains/(losses)		13		377
Purchases		–		653
Sales		(2,509	)	(79,474	)
Settlements		(55	)	–
Transfers out of level 3		(947	)	(2,593	)
Ending balance		$    267		$   3,765
Common and preferred stocks
Beginning balance		$ 1,447		$   8,899
Net realized gains/(losses)		–		539
Net unrealized gains/(losses)		–		(68	)
Purchases		–		–
Sales		(1,447	)	(7,923	)
Ending balance		$        –		$   1,447

Level 3 Rollforward Commentary

Year Ended December 2017. The net realized and unrealized gains on level 3 investment assets were not material.

Transfers out of level 3 during 2017 were not material.

Year Ended December 2016. The net realized gains on level 3 investment assets of $5.8 million are reported in interest and dividends. The net unrealized gains on level 3 investment assets of $0.3 million are reported in net appreciation in the fair value of investments.

Transfers out of level 3 of $2.6 million during 2016 primarily reflected transfers of fixed income securities to level 2 principally due to increased price transparency as a result of market evidence, including increased market transactions in these instruments.

9

THE GOLDMAN SACHS 401(K) PLAN

Notes to Financial Statements

Note 5.

Related Party Transactions and Party-In-Interest Transactions

The Plan offers as an investment option the Company Stock Fund, which primarily invests in shares of the firm’s common stock. As of December 2017 and December 2016, the Plan’s interest in the Company Stock Fund represented 537,885 and 580,989 shares of the firm’s common stock with a fair market value of $137.0 million and $139.1 million, respectively. Purchases of $0.7 million and $6.6 million and sales of $10.9 million and $13.9 million of the firm’s common stock were made through the Company Stock Fund during 2017 and 2016, respectively. The Company Stock Fund is managed by an affiliate of the Trustee.

GSAM Stable Value, LLC (GSAM Stable Value, formerly called Dwight Asset Management Company, LLC), an affiliate of the firm, manages a laddered fixed income separately managed account investment option in the Plan. No fees are payable by the Plan to GSAM Stable Value or other affiliates to manage this separately managed account as of both December 2017 and December 2016.

GS Bank USA, an affiliate of the firm, has a deposit obligation to the Plan under the Plan’s Bank Deposit option. No fees were paid during 2017 and 2016, or were payable by the Plan as of both December 2017 and December 2016, for bank deposit obligations.

An affiliate of the Trustee manages several investment options within the Plan. These investments include the SSgA S&P 500^® Index Non-Lending Series Fund, SSgA S&P MidCap^® Index Non-Lending Series Fund, SSgA Russell Small Cap^® Index Non-Lending Series Fund, SSgA Emerging Markets Index Non-Lending Series Fund, and the SSgA U.S. Bond Index Non-Lending Series Fund, each of which are collective trust funds, and the SSgA Hedged International Developed Equity Index Fund, which is a mutual fund. Fees associated with the management of these collective trust funds qualify as party-in-interest transactions.

As of December 1, 2017, the Plan does not make available to participants in the Plan any mutual fund investment options managed by affiliates of the firm. Prior to that date, certain mutual funds managed by affiliates of the firm were available as investment options under the Plan. With respect to those mutual fund investment options managed by affiliates of the firm that were available under the Plan during 2017 or 2016, no fees were paid by the Plan for both 2017 and 2016, or were payable by the Plan as of both December 2017 and December 2016 to the firm or its affiliates, however, investment management fees were paid from the funds to the firm or its affiliates in accordance with the investment management agreement between each fund and its investment manager.

Note 6.

Plan Termination

The firm intends to continue the Plan indefinitely, but reserves the right to discontinue or amend the Plan at any time subject to the provisions of ERISA. In the event of discontinuance, affected participants will become fully vested in the Firm Contributions and the related investment income as required by ERISA.

Note 7.

Income Tax Status

The Internal Revenue Service has determined, and informed the firm by a letter dated April 14, 2017, that the terms of the Plan conform to the requirements of section 401(a) of the Internal Revenue Code of 1986, as amended.

Note 8.

Reconciliation of Financial Statements to Form 5500

The tables below present the reconciliations from the Plan’s financial statements to the Form 5500.

	As of December
$ in thousands		2017		2016
Net assets available for benefits, per Statements of Net Assets Available for Benefits		$7,563,908		$6,794,682
Amounts allocated to withdrawing participants		(26,805	)	(60,804	)
Net assets, per the Form 5500		$7,537,103		$6,733,878
	As of December
$ in thousands		2017		2016
Benefits paid, per Statements of Changes in Net Assets Available for Benefits		$   525,490		$   449,172
Amounts allocated to withdrawing participants, end of year		26,805		60,804
Amounts allocated to withdrawing participants, beginning of year		(60,804	)	(19,508	)
Benefits paid to participants, per the Form 5500		$   491,491		$   490,468

Amounts allocated to withdrawing participants are recorded on the Form 5500 for benefit claims that have been processed and approved for payment prior to December 2017 and December 2016, respectively, but had not yet been paid as of that date.

10

THE GOLDMAN SACHS 401(K) PLAN

Notes to Financial Statements

Note 9.

Financial Instruments with Off-Balance-Sheet Risk

In accordance with the investment strategy of the separately managed accounts, the Plan’s investment managers execute transactions in various financial instruments that may give rise to varying degrees of off-balance-sheet market and credit risk, including investments sold, but not yet purchased. These investment liabilities involve obligations to deliver specified securities at contracted prices and thereby create a liability to purchase the securities at prevailing future market prices. Accordingly, these transactions result in off-balance-sheet risk as the Plan’s ultimate obligation to satisfy the sale of investments sold, but not yet purchased, may exceed the amount recognized in the financial statements. Derivatives are instruments that derive their value from underlying asset prices, indices, reference rates and other inputs, or a combination of these factors. Derivatives may be traded on an exchange (exchange-traded) or they may be privately negotiated contracts, which are usually referred to as over-the-counter (OTC) derivatives. The Plan enters into various types of derivatives, including:

• Futures and Forwards. Contracts that commit counterparties to purchase or sell financial instruments, commodities or currencies in the future.

• Swaps. Contracts that require counterparties to exchange cash flows such as currency or interest payment streams. The amounts exchanged are based on the specific terms of the contract with reference to specified rates, financial instruments, commodities, currencies or indices.

• Options. Contracts in which the option purchaser has the right, but not the obligation, to purchase from or sell to the option writer financial instruments, commodities or currencies within a defined time period for a specified price.

As a writer of option contracts, the Plan receives a premium to become obligated to buy or sell financial instruments for a period of time at the holder’s option. During this period, the Plan bears the risk of an unfavorable change in the market value of the financial instrument underlying the option, but has no credit risk, as the counterparty has no performance obligation to the Plan once it has paid its cash premium.

Derivatives are recorded on a gross basis in the statements of net assets available for benefits. Derivatives are accounted for at fair value.

Risk Management

Market risk includes risk that arises from the potential for changes in value of financial instruments resulting from fluctuations in interest and foreign exchange rates, in prices of commodities, and in prices of debt and equity securities. In many cases, these financial instruments serve to reduce, rather than increase, the Plan’s exposure to losses from market or other risks. In addition, the measurement of market risk is meaningful only when all related and offsetting transactions are identified. The investment managers may limit the Plan’s market risk by holding or purchasing offsetting positions.

The Plan is subject to credit risk of counterparty nonperformance on derivative assets, except for written options, which obligate the Plan to perform and do not give rise to any counterparty credit risk. The tables below present the gross fair value and the notional amounts of derivative contracts by major product type, and the amounts of counterparty netting and collateral that have not been offset in the statements of net assets available for benefits.

	As of December 2017					As of December 2016
$ in thousands		Derivative Assets		Derivative Liabilities			Derivative Assets		Derivative Liabilities
Interest rates		$ 1,153		$    790			$ 1,765		$ 1,052
Credit		20		688			70		285
Currencies		1,073		1,346			2,967		2,578
Commodities		321		380			473		517
Equities		4,007		2,216			2,797		1,643
Total gross fair value		$ 6,574		$ 5,420			$ 8,072		$ 6,075
Not offset in statements of net assets available for benefits
Counterparty netting		$(4,004	)	$(4,004	)		$(1,337	)	$(1,337	)
Cash collateral netting		(2,570	)	(1,416	)		(2,450	)	(4,738	)
Total		$        –		$        –			$ 4,285		$        –

	Notional Amounts as of December
$ in thousands		2017	2016
Interest rates		$416,954	$367,660
Credit		25,250	20,649
Currencies		230,564	176,835
Commodities		16,464	79,708
Equities		100,975	111,422
Total		$790,207	$756,274

In the tables above:

• Gross fair values exclude the effects of both counterparty netting and collateral, and therefore are not representative of the Plan’s exposure.

• Notional amounts, which represent the sum of gross long and short derivative contracts, provide an indication of the volume of the Plan’s derivative activity and do not represent anticipated losses.

11

THE GOLDMAN SACHS 401(K) PLAN

Notes to Financial Statements

The table below presents the net appreciation/(depreciation) in the fair value of derivatives (including gains and losses on derivatives bought and sold, as well as held during the year) by major product type.

	Year Ended December
$ in thousands		2017		2016
Interest rates		$   (301	)	$   (778	)
Credit		(391	)	(140	)
Currencies		2,825		(1,089	)
Commodities		34		3,233
Equities		(3,293	)	4,480
Total		$(1,126	)	$ 5,706

Credit Derivatives

The Plan’s investment managers enter into various derivative transactions that are considered credit derivatives under U.S. GAAP.

The Plan enters into credit default swaps. Single-name credit default swaps protect the buyer against the loss of principal on one or more bonds, loans or mortgages (reference obligations) in the event the issuer (reference entity) of the reference obligations suffers a credit event. The buyer of protection pays an initial or periodic premium to the seller and receives protection for the period of the contract. If there is no credit event, as defined in the contract, the seller of protection makes no payments to the buyer of protection. However, if a credit event occurs, the seller of protection is required to make a payment to the buyer of protection, which is calculated in accordance with the terms of the contract.

All of the Plan’s written and purchased credit derivative transactions are with financial institutions and are subject to stringent collateral thresholds. These amounts were not material for both December 2017 and December 2016.

12

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2017

Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares / Par Value		Current Value
Bank Deposit
*GOLDMAN SACHS BANK USA BANK DEPOSIT ACCOUNT		255,784,718	$	255,784,718
Total Bank Deposit			$	255,784,718
Mutual Funds
AQR EQUITY MARKET NEUTRAL FUND		2,292,956	$	28,088,716
ASHMORE EMERGING MARKETS LOCAL CURRENCY BOND FUND		3,774,333		29,288,825
DODGE & COX INTERNATIONAL STOCK FUND		1,662,365		77,000,770
*GOLDMAN SACHS CORE FIXED INCOME FUND		1,215		12,768
*GOLDMAN SACHS SHORT DURATION GOVERNMENT FUND		1,316		12,909
GUGGENHEIM HIGH YIELD FUND		13,662,583		156,163,321
*STATE STREET HEDGED INTERNATIONAL DEVELOPED EQUITY INDEX FUND		8,020,369		83,411,842
VANGUARD FEDERAL MONEY MARKET		701,657,883		701,657,883
VANGUARD HIGH YIELD CORPORATE		2,680,572		15,868,986
VANGUARD INFLATION-PROTECTED SECURITIES FUND		8,859,736		92,407,043
WESTERN ASSET CORE PLUS BOND FUND		14,150,921		167,405,392
Total Mutual Funds			$	1,351,318,455
Collective Trusts
BLACKROCK 20+ TREASURY BOND INDEX FUND		1,288,755	$	57,262,240
*SSGA EMERGING MARKETS INDEX NON-LENDING SERIES FUND		5,851,358		196,342,319
BLACKROCK EQUITY GROWTH INDEX FUND		6,395,732		182,438,890
BLACKROCK EQUITY VALUE INDEX FUND		6,601,792		214,809,778
BLACKROCK LIFEPATH® INDEX 2020 NON-LENDABLE FUND		2,225,042		49,932,175
BLACKROCK LIFEPATH® INDEX 2025 NON-LENDABLE FUND		3,548,569		86,096,454
BLACKROCK LIFEPATH® INDEX 2030 NON-LENDABLE FUND		4,694,905		121,420,097
BLACKROCK LIFEPATH® INDEX 2035 NON-LENDABLE FUND		5,142,150		141,209,614
BLACKROCK LIFEPATH® INDEX 2040 NON-LENDABLE FUND		5,959,616		172,445,051
BLACKROCK LIFEPATH® INDEX 2045 NON-LENDABLE FUND		6,730,354		203,794,456
BLACKROCK LIFEPATH® INDEX 2050 NON-LENDABLE FUND		5,320,591		166,981,966
BLACKROCK LIFEPATH® INDEX 2055 NON-LENDABLE FUND		4,960,030		112,539,614
BLACKROCK LIFEPATH® RETIREMENT INDEX NON-LENDABLE FUND		2,565,916		50,059,732
EAFE EQUITY INDEX NL FUND		1,642,825		25,595,875
EMERGING MKTS EQUITY TR		59,675		32,797,516
*SSGA S&P MIDCAP® INDEX NON-LENDING SERIES FUND		7,253,373		261,803,234
*SSGA RUSSELL 2000® INDEX NON-LENDING SERIES FUND		7,595,684		224,513,227
*SSGA S&P 500® INDEX NON-LENDING SERIES FUND		18,574,904		1,105,466,843
*SSGA US BND INDEX SER A		888,226		12,373,881
Total Collective Trusts			$	3,417,882,962
Separately Managed Accounts
Cash and Cash Equivalents
ARGENTINE PESO		141,992	$	7,543
AUSTRALIAN DOLLAR		85,766		67,082
BRAZILIAN REAL		961		290
CANADIAN DOLLAR		71,272		56,883
COLOMBIAN PESO		55,974,731		18,755
CZECH KORUNA		214,042		10,068
DANISH KRONE		3,842		620
EGYPTIAN POUND		294,262		16,550
EURO CURRENCY		118,467		142,255
INDIAN RUPEE		6,755,052		105,833
INDONESIAN RUPIAH		2		–
JAPANESE YEN		7,115,051		63,161
MALAYSIAN RINGGIT		481		119
MEXICAN PESO (NEW)		471,477		24,097
NEW ISRAELI SHEQEL		108		31
NEW TAIWAN DOLLAR		214		7
NIGERIAN NAIRA		2,002,411		5,562
NORWEGIAN KRONE		36,000		4,401
POLISH ZLOTY		269		77
POUND STERLING		420,676		569,069
SINGAPORE DOLLAR		833		623
SOUTH AFRICAN RAND		3,846,272		310,684
SOUTH KOREAN WON		11,524		11
SWEDISH KRONA		2,564		313
SWISS FRANC		1,789		1,835
US DOLLAR		359,713		359,713
YUAN RENMINBI OFFSHORE		4,632,063		711,306
Total Cash and Cash Equivalents			$	2,476,888

13

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2017

Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares / Par Value		Current Value
Securities Purchased Under Agreements to Resell
REPO BANK AMERICA		40,500,000	$	40,500,000
Total Securities Purchased Under Agreements to Resell			$	40,500,000
Fixed Income Securities
ABBVIE INC 1.8% 14 May 2018		450,000	$	449,780
ABBVIE INC 2% 06 Nov 2018		600,000		599,749
ABBVIE INC 2.3% 14 May 2021		749,000		743,527
ABN AMRO BANK NV 3.5% 12 Jan 2018		400,000		480,781
ABU DHABI GOVT INT L 2.5% 11 Oct 2022		300,000		294,000
ACCESS GROUP INC 1% 25 Jul 2056		362,137		363,650
ADELQ 7.5 ESC ADELPHIA COMM 7.5% 01/04 NA ESCROW		8,100		–
ADLAC 10.25 ESC ADELPH COM 10.25 11/1/06 NA ESC		23,947		–
ADLAC CV3.25ESC ADLAC 3.25 05/01/21 NA ESCROW		2,031,000		–
AEGIS ASSET BACKED SECURITIES 1% 25 Oct 2035		108		108
AERCAP IRELAND CAP/GLOBA 3.75% 15 May 2019		1,125,000		1,142,805
AFRICAN DEVELOPMENT BANK 5.25% 23 Mar 2022		200,000		172,483
AIG GLOBAL FUNDING 1.95% 18 Oct 2019		600,000		594,813
AIG GLOBAL FUNDING 2.15% 02 Jul 2020		225,000		223,007
ALIMENTATION COUCHE TARD 2.35% 13 Dec 2019		575,000		574,965
ALLERGAN FUNDING SCS 2.35% 12 Mar 2018		700,000		700,554
ALLERGAN FUNDING SCS 3% 12 Mar 2020		800,000		807,197
ALLERGAN SALES LLC 5% 15 Dec 2021		100,000		106,948
ALLY FINANCIAL INC 3.25% 13 Feb 2018		400,000		400,200
ALLY FINANCIAL INC 8% 01 Nov 2031		100,000		130,000
AMERICAN ELECTRIC POWER 2.15% 13 Nov 2020		475,000		472,787
AMERICAN EXPRESS CREDIT 1.8% 31 Jul 2018		1,200,000		1,199,211
AMERICAN EXPRESS CREDIT ACCOUN 1.64% 15 Dec 2021		1,600,000		1,591,725
AMERICAN EXPRESS CREDIT ACCOUN 1.77% 15 Nov 2022		950,000		941,827
AMERICAN EXPRESS CREDIT ACCOUN 2.04% 15 May 2023		300,000		298,555
AMERICAN HONDA FINANCE 1% 05 Nov 2021		100,000		100,074
AMERICAN INTL GROUP 5.85% 16 Jan 2018		600,000		600,750
AMERIQUEST MORTGAGE SECURITIES 1% 25 Sep 2033		145,324		145,044
AMORTIZING RESIDENTIAL COLLATE 1% 25 Oct 2034		385,074		386,158
ANHEUSER BUSCH INBEV FIN 1.9% 01 Feb 2019		1,650,000		1,646,579
ANHEUSER BUSCH INBEV FIN 2.65% 01 Feb 2021		425,000		427,133
ANHEUSER BUSCH INBEV WOR 2.2% 01 Aug 2018		595,000		595,626
ARES CLO LTD 1% 05 Dec 2025		500,000		503,699
AT+T INC 1% 15 Jan 2020		600,000		603,576
AT+T INC 1% 15 Jul 2021		200,000		202,741
AT+T INC 1.8% 04 Sep 2026		200,000		243,162
AT+T INC 2.8% 17 Feb 2021		100,000		100,443
AT+T INC 3% 15 Feb 2022		375,000		375,765
AT+T INC 3.875% 15 Aug 2021		50,000		51,802
AT+T INC 5.2% 15 Mar 2020		600,000		634,212
AT+T INC 5.5% 01 Feb 2018		150,000		150,430
AT+T INC 5.8% 15 Feb 2019		700,000		726,414
AT+T INC 5.875% 01 Oct 2019		475,000		503,261
ATRIUM CDO CORP 1% 23 Oct 2024		500,000		502,242
AUST + NZ BANKING GRP NY 1.5% 16 Jan 2018		900,000		899,845
AUST + NZ BANKING GRP NY 2.25% 13 Jun 2019		700,000		700,856
B 02/08/18 TREASURY BILL 0 02/08/2018		200,000		199,752
BANC OF AMERICA MORTGAGE SECUR 1% 25 Jul 2035		20,371		18,492
BANC OF AMERICA MORTGAGE SECUR 1% 25 Sep 2035		100,783		98,035
BANCA CARIGE SPA 3.875% 24 Oct 2018		100,000		123,477
BANK OF AMERICA CORP 1% 21 Jul 2021		450,000		449,212
BANK OF AMERICA CORP 2.25% 21 Apr 2020		1,725,000		1,726,205
BANK OF AMERICA CORP 5.65% 01 May 2018		275,000		278,282
BANQUE FED CRED MUTUEL 2.2% 20 Jul 2020		625,000		620,990
BARCLAYS DRYROCK ISSUANCE TRUS 1.52% 16 May 2022		350,000		346,802
BAT CAPITAL CORP 1% 14 Aug 2020		100,000		100,538
BAT CAPITAL CORP 1% 15 Aug 2022		200,000		202,390
BAT CAPITAL CORP 2.297% 14 Aug 2020		3,100,000		3,082,948
BAT INTL FINANCE PLC 1.625% 09 Sep 2019		200,000		196,926
BAXALTA INC 2% 22 Jun 2018		300,000		299,930
BEAR STEARNS ADJUSTABLE RATE M 1% 25 Aug 2035		31,080		28,465
BEAR STEARNS ADJUSTABLE RATE M 1% 25 Mar 2035		25,712		25,963
BEAR STEARNS ADJUSTABLE RATE M 1% 25 Oct 2035		1,815		1,814
BEAR STEARNS ALT A TRUST 1% 25 Nov 2036		269,613		250,378
BEAR STEARNS ASSET BACKED SECU 1% 25 Oct 2034		548,396		550,746
BEAR STEARNS STRUCTURED PRODUC 1% 26 Jan 2036		74,101		65,220
BECTON DICKINSON AND CO 2.133% 06 Jun 2019		525,000		523,821
BECTON DICKINSON AND CO 2.404% 05 Jun 2020		300,000		298,373
BERKSHIRE HATHAWAY ENERG 2% 15 Nov 2018		375,000		375,293
BK TOKYO MITSUBISHI UFJ 2.3% 05 Mar 2020		600,000		597,838
BLACK HILLS CORP 2.5% 11 Jan 2019		200,000		200,545
BMW US CAPITAL LLC 1.5% 11 Apr 2019		275,000		273,100
BON Y OBLIG ESTADO STRIP 0.01% 31 Jan 2018		800,000		960,929
BONOS Y OBLIG DEL ESTADO 1.45% 31 Oct 2027		400,000		475,787
BONOS Y OBLIG DEL ESTADO 1.5% 30 Apr 2027		800,000		965,111
BONOS Y OBLIG DEL ESTADO 2.15% 31 Oct 2025		1,400,000		1,809,397
BONOS Y OBLIG DEL ESTADO 2.9% 31 Oct 2046		100,000		121,692
BPCE SA 2.5% 10 Dec 2018		500,000		501,406
BPCE SA 2.65% 03 Feb 2021		250,000		250,705
BRAZOS HIGHER EDUCATION AUTHOR 1% 27 Mar 2023		1,937,289		1,923,998
BRFKREDIT A/S 2% 01 Oct 2047		1,865,167		302,908
BRFKREDIT A/S 2.5% 01 Oct 2047		41,112		6,906
BRFKREDIT A/S 3% 01 Oct 2047		1		–
BRITISH COLUMBIA PROV OF 2.7% 18 Dec 2022		100,000		81,639
BRITISH TRA INTL FINANCE 0.01% 04 Nov 2021		300,000		270,042

14

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2017

Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares / Par Value		Current Value
BROADCOM CRP / CAYMN FI 2.375% 15 Jan 2020		1,100,000		1,092,561
BUONI ORDINARI DEL TES 0.01% 14 Mar 2018		300,000		360,582
BUONI ORDINARI DEL TES 0.01% 30 Apr 2018		4,700,000		5,653,124
BUONI ORDINARI DEL TES 0.01% 31 Jan 2018		600,000		720,727
BUONI POLIENNALI DEL TES 0.35% 01 Nov 2021		700,000		838,444
BUONI POLIENNALI DEL TES 0.75% 15 Jan 2018		800,000		961,023
BUONI POLIENNALI DEL TES 1.45% 15 Nov 2024		300,000		361,406
BUONI POLIENNALI DEL TES 2.45% 01 Sep 2033		500,000		588,674
BUONI POLIENNALI DEL TES 2.7% 01 Mar 2047		400,000		437,576
BUONI POLIENNALI DEL TES 3.25% 01 Sep 2046		500,000		611,393
BUONI POLIENNALI DEL TES 3.45% 01 Mar 2048		300,000		373,929
BUONI POLIENNALI DEL TES 4.5% 01 Feb 2018		600,000		723,261
CALNOR 14.125 ESC CALLAHAN NRH WESTF 14.125 07/15/11 (NON-ACC) ESC		9,000		–
CANADIAN GOVERNMENT RRB 1.5% 01 Dec 2044		113,233		110,768
CAPITAL ONE NA 1.85% 13 Sep 2019		875,000		866,562
CAPITAL ONE NA 2.35% 31 Jan 2020		625,000		623,118
CARDS II TRUST 1% 15 Jul 2021		500,000		501,462
CARDS II TRUST 1% 18 Apr 2022		800,000		801,853
CATAMARAN CLO LTD 1% 20 Dec 2023		207,422		208,435
CBOE GLOBAL MARKETS INC 1.95% 28 Jun 2019		325,000		322,945
CENTERPOINT ENERGY RESOU 4.5% 15 Jan 2021		300,000		313,766
CHARTER COMM OPT LLC/CAP 4.464% 23 Jul 2022		200,000		208,670
CHARTER COMM OPT LLC/CAP 6.384% 23 Oct 2035		300,000		350,288
CHASE MORTGAGE FINANCE CORPORA 1% 25 Feb 2037		111,963		112,848
CHUGOKU ELECTRIC POWER 2.701% 16 Mar 2020		200,000		200,495
CIFC FUNDING LTD 1% 17 Jan 2027		500,000		501,917
CIFC FUNDING LTD 1% 17 Oct 2026		500,000		499,831
CISCO SYSTEMS INC 1.4% 20 Sep 2019		900,000		890,611
CIT EDUCATION LOAN TRUST 1% 15 Mar 2026		273,253		272,871
CITIBANK CREDIT CARD ISSUANCE 1% 08 Aug 2024		850,000		853,443
CITIBANK NA 2.125% 20 Oct 2020		1,875,000		1,857,088
CITIGROUP INC 1% 07 Jun 2019		200,000		201,576
CITIGROUP INC 1% 30 Jul 2018		200,000		200,731
CITIGROUP INC 2.4% 18 Feb 2020		125,000		124,854
CITIGROUP INC 8.5% 22 May 2019		700,000		758,325
CITIZENS BANK NA/RI 1% 02 Mar 2020		325,000		325,637
CLEVELAND ELECTRIC ILLUM 8.875% 15 Nov 2018		100,000		105,651
CO OP GRP HLDS 1% 08 Jul 2020		100,000		148,802
COMCAST CORP 5.15% 01 Mar 2020		500,000		529,912
COMMONWEALTH BK AUSTR NY 1.625% 12 Mar 2018		700,000		699,871
CONSOLIDATED EDISON INC 2% 15 May 2021		100,000		98,472
COOPERAT RABOBANK UA/NY 1.7% 19 Mar 2018		1,000,000		999,902
COOPERATIEVE RABOBANK UA 6.875% 19 Mar 2020		200,000		275,974
CORDATUS CLO PLC 1% 24 Jan 2028		250,000		300,751
COUNTRYWIDE ALTERNATIVE LOAN T 1% 20 Dec 2046		149,919		127,169
COUNTRYWIDE HOME LOANS 1% 25 Mar 2035		55,565		53,209
CRED SUIS GP FUN LTD 3.8% 09 Jun 2023		250,000		257,824
CREDIT AGRICOLE SA 1% 19 Sep 2033		300,000		311,355
CREDIT SUISSE AG 6.5% 08 Aug 2023		200,000		223,800
CREDIT SUISSE FIRST BOSTON MOR 1% 25 Oct 2034		6,511		6,393
CREDIT SUISSE NEW YORK 1.75% 29 Jan 2018		1,000,000		1,000,008
CROWN CASTLE INTL CORP 3.4% 15 Feb 2021		449,000		458,536
CVS HEALTH CORP 2.125% 01 Jun 2021		175,000		170,784
CVS HEALTH CORP 2.25% 12 Aug 2019		700,000		697,884
CVS HEALTH CORP 2.8% 20 Jul 2020		700,000		702,916
CZECH REPUBLIC 0.85% 17 Mar 2018		4,800,000		226,197
D.R. HORTON INC 2.55% 01 Dec 2020		150,000		149,776
D.R. HORTON INC 3.75% 01 Mar 2019		300,000		304,031
DAIMLER FINANCE NA LLC 2.375% 01 Aug 2018		300,000		300,633
DANAHER CORP 1.65% 15 Sep 2018		200,000		199,644
DANONE SA 1.691% 30 Oct 2019		650,000		642,183
DELL INT LLC / EMC CORP 4.42% 15 Jun 2021		200,000		208,404
DEUTSCHE BANK AG 1% 18 Jan 2019		200,000		201,847
DEUTSCHE BANK AG 2.85% 10 May 2019		200,000		200,666
DEUTSCHE BANK AG 4.25% 14 Oct 2021		500,000		520,183
DEUTSCHE BANK NY 2.7% 13 Jul 2020		725,000		721,449
DISCOVER BANK 2.6% 13 Nov 2018		450,000		451,527
DNB BOLIGKREDITT AS 2.5% 28 Mar 2022		200,000		199,393
DOMINION ENERGY GAS HLDG 2.8% 15 Nov 2020		100,000		100,768
DOMINION ENERGY INC 1.6% 15 Aug 2019		75,000		74,175
DOMINION ENERGY INC 1.875% 15 Jan 2019		100,000		99,700
DOMINION ENERGY INC 1.9% 15 Jun 2018		600,000		599,939
DRESDNER FNDG TRUST I 8.151% 30 Jun 2031		200,000		264,926
DUKE ENERGY CORP 2.1% 15 Jun 2018		600,000		600,166
DUKE ENERGY FLORIDA LLC 5.65% 15 Jun 2018		400,000		406,769
ECMC GROUP STUDENT LOAN TRUST 1% 26 Jul 2066		488,137		496,309
EMD FINANCE LLC 2.4% 19 Mar 2020		400,000		399,124
EMERA US FINANCE LP 2.15% 15 Jun 2019		350,000		348,638
EMERALD BAY SA 0.01% 08 Oct 2020		98,000		108,853
ENBRIDGE INC 1% 10 Jan 2020		200,000		200,276
ENBRIDGE INC 1% 15 Jun 2020		100,000		100,929
ENERGY TRANSFER LP 6.7% 01 Jul 2018		300,000		306,625
ENTERGY TEXAS INC 7.125% 01 Feb 2019		200,000		210,109
ENTERPRISE PRODUCTS OPER 5.25% 31 Jan 2020		800,000		844,673
ERAC USA FINANCE LLC 2.6% 01 Dec 2021		200,000		197,439
ESC-CDO 0.0 II ESCROW COMDISCO MTN 0.00 II		29,000		–
ESC-CDO 0.0% I ESCROW COMDISCO MTN 0.00 I		44,000		–
EUROPEAN INVESTMENT BANK 0.5% 10 Aug 2023		200,000		135,750
EUROPEAN INVESTMENT BANK 0.5% 21 Jul 2023		200,000		136,229
EUROSAIL PLC 1% 13 Jun 2045		207,544		278,692
EXELON CORP 5.15% 01 Dec 2020		250,000		266,208
FANNIE MAE 1% 25 Jan 2044		35,192		35,419
FANNIE MAE 1% 25 May 2036		42,540		42,536

15

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2017

Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares / Par Value		Current Value
FANNIE MAE 2.125% 24 Apr 2026		100,000		96,499
FANNIE MAE 2.5% 25 Dec 2041		152,058		150,083
FED HOME LN DISCOUNT NT 0.01% 28 Feb 2018		700,000		698,537
FED HOME LN DISCOUNT NT 0.01% 29 Jan 2018		2,200,000		2,197,870
FEDERAL HOME LOAN BANK 1.25% 08 Jun 2018		1,845,000		1,842,400
FEDERAL HOME LOAN BANK 1.625% 14 Jun 2019		720,000		717,132
FHLMC MULTIFAMILY STRUCTURED P 1% 25 Sep 2020		500,000		503,363
FHLMC MULTIFAMILY STRUCTURED P 1.981% 25 Oct 2022		889,403		881,052
FHLMC TBA 30 YR 3.5 3.5% 13 Feb 2048		1,000,000		1,025,248
FIDELITY NATIONAL INFORM 2.85% 15 Oct 2018		375,000		377,276
FLAGSHIP CREDIT AUTO TRUST 1.93% 15 Dec 2021		290,212		289,907
FLATIRON CLO LTD 1% 17 Jan 2026		500,000		501,025
FNMA POOL 555678 1% 01 Aug 2033		1,083,129		1,176,531
FNMA POOL 735676 1% 01 Jul 2035		339,619		368,901
FNMA POOL AB0130 5% 01 May 2038		103,581		111,897
FNMA POOL AB2503 4.5% 01 Mar 2031		10,624		11,340
FNMA POOL AL1674 1% 01 May 2042		338,462		348,744
FNMA POOL AL5548 1% 01 May 2038		137,784		144,736
FNMA POOL MA0634 4.5% 01 Jan 2031		8,975		9,579
FNMA TBA 30 YR 3 3% 18 Jan 2048		1,700,000		1,700,000
FNMA TBA 30 YR 3.5 3.5% 13 Feb 2048		2,300,000		2,357,770
FNMA TBA 30 YR 3.5 3.5% 13 Mar 2048		400,000		409,422
FNMA TBA 30 YR 4 4% 13 Feb 2048		3,300,000		3,446,298
FORD CREDIT AUTO OWNER TRUST/F 2.03% 15 Dec 2027		400,000		394,222
FORD CREDIT FLOORPLAN MASTER O 1.95% 15 Nov 2021		950,000		945,576
FORD MOTOR CREDIT CO LLC 2.021% 03 May 2019		200,000		199,093
FORD MOTOR CREDIT CO LLC 2.375% 12 Mar 2019		700,000		700,251
FORD MOTOR CREDIT CO LLC 2.681% 09 Jan 2020		200,000		200,482
FORD MOTOR CREDIT CO LLC 3.157% 04 Aug 2020		900,000		910,991
FRANCE (GOVT OF) 2% 25 May 2048		1,100,000		1,394,208
FRANCE (GOVT OF) 3.25% 25 May 2045		400,000		647,831
FREDDIE MAC 1% 15 Jan 2038		264,565		140,363
FREDDIE MAC 1% 15 Jul 2036		5,372		5,366
FREDDIE MAC 2.5% 15 May 2045		364,680		358,335
FREDDIE MAC 3% 15 Feb 2047		487,571		489,667
FREDDIE MAC 3% 15 Jan 2046		683,087		687,168
FREDDIE MAC 3% 15 Nov 2044		538,582		543,361
FREDDIEMAC STRIP 1% 15 Sep 2042		220,783		222,069
GENERAL ELECTRIC CO 4.375% 16 Sep 2020		200,000		210,085
GENERAL MOTORS FINL CO 2.4% 09 May 2019		800,000		800,194
GENERALITAT DE CATALUNYA 4.75% 04 Jun 2018		100,000		121,604
GENERALITAT DE CATALUNYA 4.9% 15 Sep 2021		500,000		633,479
GEORGIA POWER CO 1.95% 01 Dec 2018		100,000		99,906
GILEAD SCIENCES INC 2.35% 01 Feb 2020		250,000		251,169
GLENCORE FUNDING LLC 3% 27 Oct 2022		175,000		173,294
GMAC MORTGAGE CORPORATION LOAN 1% 25 Jun 2034		25,545		25,561
GMF FLOORPLAN OWNER REVOLVING 1.96% 17 May 2021		400,000		398,809
GNMA II POOL MA1376 4% 20 Oct 2043		994,321		1,047,546
GOLDEN CREDIT CARD TRUST 1.6% 15 Sep 2021		600,000		593,658
GOLDEN CREDIT CARD TRUST 1.98% 15 Apr 2022		400,000		397,228
GOLDENTREE LOAN OPPORTUNITIES 1% 29 Oct 2026		500,000		500,151
GOVERNMENT NATIONAL MORTGAGE A 1% 20 Aug 2066		88,626		88,996
GOVERNMENT NATIONAL MORTGAGE A 1% 20 Nov 2066		394,428		399,534
GP PORTFOLIO TRUST 1% 15 Feb 2027		70,311		70,319
HALLIBURTON CO 2% 01 Aug 2018		600,000		599,556
HBOS PLC 6.75% 21 May 2018		254,000		258,306
HCP INC 3.75% 01 Feb 2019		500,000		506,013
HEAT 07-2 M1 ESC HEAT 2007-2 M1 0.75875 07/25/2037 ESC		1		–
HIGHER EDUCATION FUNDING 1% 25 Feb 2030		10,762		10,762
HSBC USA INC 1% 24 Sep 2018		300,000		301,560
HSBC USA INC 2.35% 05 Mar 2020		200,000		199,975
HSBC USA INC 2.375% 13 Nov 2019		500,000		500,580
HUNTINGTON NATIONAL BANK 1% 10 Mar 2020		400,000		401,866
IBERDROLA FIN IRELAND 5% 11 Sep 2019		300,000		312,292
INDYMAC INDX MORTGAGE LOAN TRU 1% 25 Sep 2035		111,928		105,390
ING BANK NV 1% 21 Nov 2023		400,000		403,970
ING BANK NV 1.8% 16 Mar 2018		1,500,000		1,499,879
ING BANK NV 2.625% 05 Dec 2022		300,000		300,185
INTEL CORP 2.45% 29 Jul 2020		600,000		606,538
INTESA SANPAOLO SPA 3.875% 16 Jan 2018		500,000		500,334
INTL BK RECON + DEVELOP 1.625% 04 Sep 2020		3,320,000		3,278,271
INTL LEASE FINANCE CORP 6.25% 15 May 2019		150,000		157,186
IRISH TSY 1 2026 1% 15 May 2026		200,000		246,323
ITALY GOV T INT BOND 6% 04 Aug 2028		100,000		168,933
JAPAN (20 YEAR ISSUE) 1.4% 20 Sep 2034		10,000,000		103,127
JAPAN (20 YEAR ISSUE) 1.5% 20 Mar 2033		20,000,000		208,676
JAPAN (20 YEAR ISSUE) 1.7% 20 Sep 2032		460,000,000		4,908,953
JAPAN (30 YEAR ISSUE) 0.5% 20 Sep 2046		70,000,000		575,429
JAPAN TOBACCO INC 2% 13 Apr 2021		200,000		196,346
JAPAN TREASURY DISC BILL 0.01% 12 Mar 2018		410,000,000		3,640,589
JAPAN TREASURY DISC BILL 0.01% 13 Feb 2018		110,000,000		976,637
JAPAN TREASURY DISC BILL 0.01% 19 Mar 2018		330,000,000		2,930,318
JAPAN TREASURY DISC BILL 0.01% 22 Jan 2018		360,000,000		3,195,963
JM SMUCKER CO 1.75% 15 Mar 2018		400,000		400,123
JP MORGAN CHASE COMMERCIAL MOR 3.378% 15 Sep 2050		200,000		204,794
JP MORGAN MORTGAGE TRUST 1% 25 Apr 2035		45,082		45,639
JPMORGAN CHASE + CO 2.25% 23 Jan 2020		1,000,000		999,331
JPMORGAN CHASE + CO 2.295% 15 Aug 2021		1,175,000		1,164,477
JPMORGAN CHASE + CO 2.75% 23 Jun 2020		375,000		378,274
JPMORGAN CHASE + CO 6% 15 Jan 2018		1,050,000		1,051,460
JPN BANK FOR INT L COOP 2% 04 Nov 2021		200,000		196,067
JPN BANK FOR INT L COOP 2.375% 21 Jul 2022		300,000		295,786
KBC BANK NV 1% 25 Jan 2023		400,000		401,888

16

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2017

Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares / Par Value		Current Value
KFW 1.875% 15 Dec 2020		3,470,000		3,441,173
KINDER MORGAN ENER PART 2.65% 01 Feb 2019		400,000		400,717
KINDER MORGAN ENER PART 6.85% 15 Feb 2020		125,000		135,399
KINDER MORGAN INC/DELAWA 3.05% 01 Dec 2019		175,000		176,533
KINDER MORGAN INC/DELAWA 7.25% 01 Jun 2018		200,000		204,213
KLA TENCOR CORP 4.125% 01 Nov 2021		200,000		208,636
KOMATSU FINANCE AMERICA 2.437% 11 Sep 2022		200,000		196,855
KOMMUNALBANKEN AS 2.25% 25 Jan 2022		300,000		298,280
KRAFT HEINZ FOODS CO 2.8% 02 Jul 2020		475,000		477,739
KSA SUKUK LTD 2.894% 20 Apr 2022		200,000		198,577
KUWAIT INTL BOND 2.75% 20 Mar 2022		200,000		199,280
KUWAIT INTL BOND 3.5% 20 Mar 2027		600,000		609,367
LANSFORSAKRINGAR HYPOTEK 1.25% 20 Sep 2023		5,500,000		677,898
LANSFORSAKRINGAR HYPOTEK 2.25% 21 Sep 2022		5,100,000		664,943
LBHI CLASS 9A LBHI CLASS 9A (CLAIM NO. 31519)		46,904		1,242
LETRA TESOURO NACIONAL 0.01% 01 Apr 2018		1,900,000		563,778
LLOYDS BANK PLC 1.75% 16 Mar 2018		400,000		399,987
LLOYDS BANK PLC 2.05% 22 Jan 2019		200,000		199,847
LLOYDS BANKING GROUP PLC 1% 29 Dec 2049		200,000		284,889
LUDGATE FUNDING PLC 1% 01 Jan 2061		565,568		703,711
MACQUARIE BANK LTD 2.35% 15 Jan 2019		250,000		250,059
MACQUARIE BANK LTD 2.85% 29 Jul 2020		250,000		251,598
MADISON PARK FUNDING LTD 1% 20 Apr 2026		500,000		502,796
MADISON PARK FUNDING LTD 1% 20 Jul 2026		500,000		505,230
MAGELLAN MIDSTREAM PARTN 6.55% 15 Jul 2019		300,000		317,773
MALIN CLO BV 1% 07 May 2023		28,790		34,561
MANUF + TRADERS TRUST CO 2.05% 17 Aug 2020		450,000		446,696
MASSACHUSETTS EDUCATIONAL FINA 1% 25 Apr 2038		456,811		459,397
MCKESSON CORP 7.5% 15 Feb 2019		550,000		580,983
MEAD JOHNSON NUTRITION C 3% 15 Nov 2020		75,000		76,123
MEDTRONIC INC 1.375% 01 Apr 2018		400,000		399,588
MEDTRONIC INC 2.5% 15 Mar 2020		800,000		804,735
MERCEDES BENZ MASTER OWNER TRU 1% 16 May 2022		950,000		953,690
MERRILL LYNCH 1% 01 Jul 2020		204,090		163,785
MERRILL LYNCH MORTGAGE INVESTO 1% 25 Feb 2035		38,163		38,942
MERRILL LYNCH MORTGAGE INVESTO 1% 25 Feb 2036		22,280		21,338
METLIFE INC 7.717% 15 Feb 2019		550,000		584,387
MLCC MORTGAGE INVESTORS INC 1% 25 Nov 2029		162,161		158,462
MOF OF CZECH REP T BILL 0.01% 20 Apr 2018		6,000,000		282,150
MOLSON COORS BREWING CO 1.45% 15 Jul 2019		825,000		814,693
MOLSON COORS BREWING CO 1.9% 15 Mar 2019		325,000		323,551
MORGAN STANLEY 1% 14 Feb 2020		825,000		828,288
MORGAN STANLEY 2.5% 21 Apr 2021		1,450,000		1,447,573
MORGAN STANLEY 2.65% 27 Jan 2020		1,100,000		1,104,967
MORGAN STANLEY BAML TRUST 1% 15 Dec 2048		1,435,962		58,525
MORGAN STANLEY MORTGAGE LOAN T 1% 25 Feb 2047		143,364		98,340
MORGAN STANLEY MORTGAGE LOAN T 1% 25 Jan 2035		195,408		181,000
MUFG AMERICAS HLDGS CORP 2.25% 10 Feb 2020		200,000		198,914
MYLAN INC 2.55% 28 Mar 2019		125,000		125,003
NAVIENT CORP 4.875% 17 Jun 2019		100,000		101,690
NAVIENT CORP 5.5% 15 Jan 2019		200,000		203,500
NAVIENT STUDENT LOAN TRUST 1% 25 Jun 2065		1,246,922		1,268,083
NAVIENT STUDENT LOAN TRUST 1% 25 Mar 2066		530,171		542,533
NAVIENT STUDENT LOAN TRUST 1% 27 Sep 2066		400,000		400,677
NBCUNIVERSAL MEDIA LLC 5.15% 30 Apr 2020		950,000		1,012,145
NCUA GUARANTEED NOTES 1% 05 Nov 2020		961,556		965,125
NCUA GUARANTEED NOTES 1% 07 Oct 2020		423,414		424,078
NEG 10.375 UNIT NATL ENERGY 10.375% UNIT FROM REORG		3,671,034		–
NELNET STUDENT LOAN TRUST 1% 22 Jun 2026		44,902		44,854
NEWGATE FUNDING PLC 1% 01 Dec 2050		309,910		397,598
NEXTERA ENERGY CAPITAL 2.3% 01 Apr 2019		100,000		99,946
NEXTERA ENERGY CAPITAL 4.5% 01 Jun 2021		300,000		317,468
NISSAN MASTER OWNER TRUST RECE 1% 17 Oct 2022		900,000		901,787
NISSAN MASTER OWNER TRUST RECE 1.54% 15 Jun 2021		300,000		297,467
NOMURA ASSET ACCEPTANCE CORPOR 1% 25 Aug 2034		13,523		13,318
NORDEA HYPOTEK AB 1% 08 Apr 2022		5,800,000		719,043
NORDEA KREDIT REALKREDIT 2% 01 Oct 2047		5,433,383		882,587
NORDEA KREDIT REALKREDIT 2% 01 Oct 2050		700,000		112,224
NORDEA KREDIT REALKREDIT 2.5% 01 Oct 2037		76,459		13,002
NORDEA KREDIT REALKREDIT 2.5% 01 Oct 2047		897		151
NORDEA KREDIT REALKREDIT 3% 01 Oct 2047		1		–
NORDIC INVESTMENT BANK 1.625% 20 Nov 2020		2,470,000		2,435,072
NORTHERN STATES PWR MINN 2.2% 15 Aug 2020		200,000		199,826
NORTHROP GRUMMAN CORP 2.08% 15 Oct 2020		750,000		743,887
NTT FINANCE CORP 1.9% 21 Jul 2021		400,000		389,952
NV ENERGY INC 6.25% 15 Nov 2020		225,000		247,104
NYKREDIT REALKREDIT AS 1% 01 Jan 2018		7,500,000		1,208,961
NYKREDIT REALKREDIT AS 2% 01 Oct 2037		3,419,445		574,557
NYKREDIT REALKREDIT AS 2% 01 Oct 2047		5,314,859		862,872
NYKREDIT REALKREDIT AS 2.5% 01 Oct 2037		1,067,543		181,991
NYKREDIT REALKREDIT AS 2.5% 01 Oct 2047		180,485		30,301
NYKREDIT REALKREDIT AS 3% 01 Oct 2047		1		–
ONTARIO (PROVINCE OF) 2.4% 02 Jun 2026		100,000		78,757
ONTARIO (PROVINCE OF) 3.15% 02 Jun 2022		500,000		415,013
ONTARIO (PROVINCE OF) 3.5% 02 Jun 2024		500,000		424,558
ONTARIO (PROVINCE OF) 4% 02 Jun 2021		100,000		84,884
OOREDOO TAMWEEL LTD 3.039% 03 Dec 2018		400,000		401,722
OPTION ONE MORTGAGE LOAN TRUST 1% 25 May 2035		200,955		201,594
PACCAR FINANCIAL CORP 1.3% 10 May 2019		125,000		123,656
PARAGON MORTGAGES PLC 1% 15 May 2041		319,352		417,948
PARAGON MORTGAGES PLC 1% 15 Nov 2038		130,567		125,359
PETROBRAS GLOBAL FINANCE 5.999% 27 Jan 2028		467,000		468,168
PETROBRAS GLOBAL FINANCE 7.375% 17 Jan 2027		200,000		220,200

17

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2017

Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares / Par Value		Current Value
PG+E CORP 2.4% 01 Mar 2019		200,000		200,119
PINNACLE WEST CAPITAL 2.25% 30 Nov 2020		175,000		174,172
PNC BANK NA 1.8% 05 Nov 2018		700,000		699,382
PROGRESS ENERGY INC 4.875% 01 Dec 2019		200,000		209,197
PROVINCE OF ALBERTA 1.25% 01 Jun 2020		400,000		314,228
PROVINCE OF ALBERTA 2.35% 01 Jun 2025		400,000		315,052
PROVINCE OF QUEBEC 3% 01 Sep 2023		100,000		82,655
PROVINCE OF QUEBEC 3.5% 01 Dec 2022		300,000		253,349
PUBLIC SERVICE ENTERPRIS 1.6% 15 Nov 2019		450,000		442,587
PUBLIC SERVICE OKLAHOMA 5.15% 01 Dec 2019		300,000		314,152
QUEENSLAND TREASURY CORP 4.25% 21 Jul 2023		100,000		84,583
RAC BOND CO PLC 4.565% 06 May 2046		200,000		292,246
REALKREDIT DANMARK 1% 01 Jan 2018		14,600,000		2,353,444
REALKREDIT DANMARK 2% 01 Oct 2037		583,886		97,959
REALKREDIT DANMARK 2% 01 Oct 2047		5,510,444		895,354
REALKREDIT DANMARK 2.5% 01 Jul 2047		177,491		29,807
REALKREDIT DANMARK 2.5% 01 Oct 2037		1,585,898		269,974
REALKREDIT DANMARK 3% 01 Jul 2046		72,977		12,539
RELIANCE STAND LIFE II 2.15% 15 Oct 2018		200,000		200,165
REPUBLIC OF ARGENTINA 1% 03 Apr 2022		2,300,000		121,567
REPUBLIC OF ARGENTINA 1% 21 Jun 2020		2,290,000		130,162
REPUBLIC OF PERU 8.2% 12 Aug 2026		600,000		228,066
REPUBLIC OF SLOVENIA 4.125% 18 Feb 2019		800,000		817,600
REPUBLIC OF SLOVENIA 5.25% 18 Feb 2024		897,000		1,025,910
REPUBLIC OF SLOVENIA 5.85% 10 May 2023		200,000		230,660
REYNOLDS AMERICAN INC 2.3% 12 Jun 2018		1,500,000		1,501,759
RIVERSIDE CA ELEC REVENUE 7.455% 01 Oct 2030		200,000		268,848
RMAC SECURITIES PLC 1% 12 Jun 2044		191,972		250,194
ROPER TECHNOLOGIES INC 2.8% 15 Dec 2021		200,000		200,352
ROPER TECHNOLOGIES INC 3% 15 Dec 2020		50,000		50,595
ROYAL BK OF SCOTLAND PLC 6.934% 09 Apr 2018		300,000		366,808
ROYAL BK SCOTLND GRP PLC 1% 15 May 2023		400,000		402,627
RYDER SYSTEM INC 2.45% 03 Sep 2019		200,000		200,220
SANTANDER UK GROUP HLDGS 2.875% 16 Oct 2020		99,000		99,327
SANTANDER UK GROUP HLDGS 3.125% 08 Jan 2021		126,000		127,185
SANTANDER UK PLC 1% 14 Mar 2019		500,000		507,437
SANTANDER UK PLC 3.05% 23 Aug 2018		475,000		478,251
SCHLUMBERGER FIN CA 2.2% 20 Nov 2020		275,000		273,393
SCHOLAR FUNDING TRUST 1% 28 Oct 2041		163,359		162,176
SHERWIN WILLIAMS CO 2.25% 15 May 2020		975,000		971,736
SKANDINAVISKA ENSKILDA 1.5% 15 Dec 2021		2,500,000		316,562
SKY PLC 2.625% 16 Sep 2019		200,000		200,389
SLM STUDENT LOAN TRUST 1% 15 Sep 2022		16,091		16,099
SLM STUDENT LOAN TRUST 1% 25 Apr 2023		260,106		262,966
SLM STUDENT LOAN TRUST 1% 25 Apr 2024		248,569		249,280
SLM STUDENT LOAN TRUST 1% 25 Jan 2023		36,338		36,351
SLM STUDENT LOAN TRUST 1% 25 Jan 2028		353,170		354,778
SMALL BUSINESS ADMINISTRATION 5.6% 01 Sep 2028		128,012		138,629
SMALL BUSINESS ADMINISTRATION 5.87% 01 Jul 2028		79,445		86,423
SMITHFIELD FOODS INC 2.65% 03 Oct 2021		225,000		222,015
SOUTHERN CO 1.85% 01 Jul 2019		325,000		323,034
SOUTHERN CO 2.35% 01 Jul 2021		400,000		397,627
SOUTHERN CO 2.75% 15 Jun 2020		200,000		201,266
SOUTHERN POWER CO 1% 20 Dec 2020		100,000		100,210
SOUTHERN POWER CO 2.5% 15 Dec 2021		275,000		272,437
SPAIN LETRAS DEL TESORO 0.01% 16 Feb 2018		1,200,000		1,441,950
STADSHYPOTEK AB 1.5% 15 Dec 2021		4,000,000		506,500
STADSHYPOTEK AB 2.5% 05 Apr 2022		400,000		398,608
STADSHYPOTEK AB 2.5% 18 Sep 2019		1,000,000		127,735
STADSHYPOTEK AB 4.5% 21 Sep 2022		5,000,000		716,243
STATE BOARD OF REGENTS OF THE 1% 25 Jan 2057		414,765		414,628
SUMITOMO MITSUI BANKING 2.45% 16 Jan 2020		600,000		600,191
SUNTRUST BANKS INC 2.5% 01 May 2019		200,000		200,750
SWAN 1% 25 Apr 2041		63,327		50,110
SWEDBANK HYPOTEK AB 1% 15 Jun 2022		3,500,000		433,486
SWEDBANK HYPOTEK AB 1% 15 Sep 2021		1,600,000		199,242
SWEDISH COVERED BOND 1.25% 15 Jun 2022		4,000,000		500,308
SWEDISH COVERED BOND 2% 17 Jun 2026		1,000,000		126,424
SYNCHRONY FINANCIAL 2.6% 15 Jan 2019		325,000		325,615
TELEFONICA EMISIONES SAU 3.192% 27 Apr 2018		800,000		802,841
TERWIN MORTGAGE TRUST 1% 25 Nov 2033		6,069		5,997
TESCO PROPERTY FIN 1 PLC 7.622% 13 Jul 2039		180,374		334,646
TESCO PROPERTY FIN 6 PLC 5.411% 13 Jul 2044		195,262		305,121
TEVA PHARMACEUT FIN BV 3.65% 10 Nov 2021		100,000		95,130
TEVA PHARMACEUTICALS NE 1.7% 19 Jul 2019		200,000		194,319
THQ 5 14DFTESCROW THQ INC 5 08/15/2019 DFT NA ESCROW		290,000		17,845
THRONES 2014 1 PLC.A 1% 15 Nov 2049		177,347		240,582
TIME WARNER CABLE LLC 6.75% 01 Jul 2018		401,000		409,888
TOKYO METROPOLITAN GOVT 2% 17 May 2021		200,000		194,954
TOKYO METROPOLITAN GOVT 2.5% 08 Jun 2022		500,000		494,783
TORONTO DOMINION BANK 2.125% 02 Jul 2019		1,500,000		1,499,827
TORRENS TRUST 1% 14 Jan 2041		45,533		35,616
TRANSCANADA PIPELINES 1.875% 12 Jan 2018		600,000		599,988
TRANSCANADA PIPELINES 3.8% 01 Oct 2020		300,000		311,057
TRILLIUM CREDIT CARD TRUST II 1% 26 May 2021		900,000		902,265
TSY INFL IX N/B 0.125% 15 Apr 2019		3,094,938		3,087,985
TSY INFL IX N/B 0.125% 15 Apr 2022		507,130		503,559
TSY INFL IX N/B 0.125% 15 Jan 2023		3,317,614		3,291,849
TSY INFL IX N/B 0.125% 15 Jul 2022		107,264		107,120
TSY INFL IX N/B 0.125% 15 Jul 2024		727,174		718,630
TSY INFL IX N/B 0.125% 15 Jul 2026		1,234,872		1,206,582
TSY INFL IX N/B 0.25% 15 Jan 2025		697,758		691,582
TSY INFL IX N/B 0.625% 15 Jan 2024		211,432		215,134

18

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2017

Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares / Par Value		Current Value
TSY INFL IX N/B 0.625% 15 Jul 2021		393,998		401,577
TSY INFL IX N/B 0.75% 15 Feb 2045		146,650		147,385
TSY INFL IX N/B 0.875% 15 Feb 2047		20,437		21,237
TSY INFL IX N/B 1.25% 15 Jul 2020		147,038		151,826
TSY INFL IX N/B 1.375% 15 Feb 2044		137,591		158,841
TSY INFL IX N/B 2.375% 15 Jan 2027		122,316		143,106
TSY INFL IX N/B 2.5% 15 Jan 2029		436,582		529,590
TSY INFL IX N/B 3.375% 15 Apr 2032		13,897		19,224
TSY INFL IX N/B 3.875% 15 Apr 2029		300,094		409,117
UBS AG 1% 22 May 2023		500,000		503,429
UBS AG LONDON 1% 08 Jun 2020		300,000		301,309
UBS AG LONDON 2.2% 08 Jun 2020		200,000		198,717
UBS AG LONDON 2.45% 01 Dec 2020		575,000		573,267
UK TSY 3 1/4 2044 3.25% 22 Jan 2044		700,000		1,233,180
UK TSY 3.5 2045 3.5% 22 Jan 2045		300,000		554,349
UK TSY 4 1/4 2040 4.25% 07 Dec 2040		900,000		1,791,027
UK TSY 4 3/4 2038 4.75% 07 Dec 2038		100,000		207,431
UNITEDHEALTH GROUP INC 2.3% 15 Dec 2019		1,000,000		1,002,593
US BANK NA CINCINNATI 1.4% 26 Apr 2019		300,000		297,650
US TREASURY N/B 0.75% 28 Feb 2018		1,110,000		1,108,957
US TREASURY N/B 0.75% 31 Aug 2018		12,000,000		11,926,875
US TREASURY N/B 0.75% 31 Oct 2018		10,800,000		10,710,984
US TREASURY N/B 0.875% 31 May 2018		3,680,000		3,671,663
US TREASURY N/B 1.125% 30 Jun 2021		4,030,000		3,902,803
US TREASURY N/B 1.25% 30 Nov 2018		1,360,000		1,353,359
US TREASURY N/B 1.25% 31 Dec 2018		9,800,000		9,745,641
US TREASURY N/B 1.375% 30 Apr 2021		3,990,000		3,903,654
US TREASURY N/B 1.5% 15 Aug 2020		1,460,000		1,443,860
US TREASURY N/B 1.625% 15 May 2026		700,000		659,313
US TREASURY N/B 1.875% 30 Apr 2022		1,400,000		1,383,266
US TREASURY N/B 1.875% 31 Jan 2022		3,390,000		3,354,776
US TREASURY N/B 2.125% 31 Jul 2024		190,000		187,744
US TREASURY N/B 2.75% 15 Nov 2042		3,100,000		3,119,617
US TREASURY N/B 2.875% 15 Aug 2045		1,100,000		1,128,102
US TREASURY N/B 3.125% 15 Feb 2043		100,000		107,434
US TREASURY N/B 3.625% 15 Aug 2043		200,000		233,422
US TREASURY N/B 5.25% 15 Feb 2029		200,000		254,703
VENTAS REALTY LP/CAP CRP 2% 15 Feb 2018		400,000		399,977
VERIZON COMMUNICATIONS 1% 22 May 2020		500,000		502,907
VERIZON COMMUNICATIONS 1.75% 15 Aug 2021		175,000		170,300
VERIZON COMMUNICATIONS 2.625% 21 Feb 2020		470,000		473,970
VERIZON COMMUNICATIONS 2.946% 15 Mar 2022		1,449,000		1,457,826
VERIZON COMMUNICATIONS 3% 01 Nov 2021		200,000		202,236
VERIZON COMMUNICATIONS 3.5% 01 Nov 2021		100,000		102,974
VIACOM INC 2.75% 15 Dec 2019		101,000		100,848
VIRGIN MEDIA SECURED FIN 5% 15 Apr 2027		100,000		137,473
VIRGIN MONEY PLC 2.25% 21 Apr 2020		100,000		137,630
VOLKSWAGEN INTL FIN NV 2.125% 20 Nov 2018		300,000		299,749
WACHOVIA MORTGAGE LOAN TRUST, 1% 20 Oct 2035		128,406		123,616
WACHOVIA STUDENT LOAN TRUST 1% 26 Jan 2026		46,244		46,233
WALGREENS BOOTS ALLIANCE 2.7% 18 Nov 2019		700,000		704,249
WAMU MORTGAGE PASS THROUGH CER 1% 25 Nov 2034		279,486		278,659
WAMU MORTGAGE PASS THROUGH CER 1% 25 Nov 2045		162,536		152,140
WELLS FARGO + COMPANY 1% 24 Jan 2023		100,000		101,987
WELLS FARGO + COMPANY 1.5% 16 Jan 2018		700,000		699,925
WELLS FARGO + COMPANY 2.15% 30 Jan 2020		1,100,000		1,097,588
WELLS FARGO + COMPANY 4.6% 01 Apr 2021		600,000		637,623
WELLS FARGO COMMERCIAL MORTGAG 1.392% 15 Jul 2048		839,080		827,945
WELLS FARGO MORTGAGE BACKED SE 1% 25 Apr 2036		17,153		17,223
WELLS FARGO MORTGAGE BACKED SE 1% 25 Mar 2036		75,917		73,568
WELLTOWER INC 2.25% 15 Mar 2018		500,000		500,193
WESTERN GAS PARTNERS 2.6% 15 Aug 2018		600,000		601,022
WESTPAC BANKING CORP 1% 06 Mar 2020		800,000		803,181
WESTPAC BANKING CORP 1.95% 23 Nov 2018		150,000		149,819
WHITEHORSE LTD 1% 03 Feb 2025		245,553		245,819
WM WRIGLEY JR CO 2.4% 21 Oct 2018		300,000		300,852
WM6.534 49A NA WASH MUTUAL PFD 6.534 03/29/49 144A (NON-ACC)		124		–
WM6.895 49A NA WASH MUTUAL PFD FDG III 6.895 06/49 144A (NON-ACC)		120		–
ZIMMER BIOMET HOLDINGS 3.15% 01 Apr 2022		200,000		200,490
Total Fixed Income Securities			$	307,964,565

19

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2017

Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares / Par Value		Current Value
Common Stock
E-COMMODITIES HOLDINGS LTD		1,004,113	$	100,246
2U INC		25,647		1,654,488
58.COM INC ADR		12,971		928,334
RREEF CHINA COMMERCIAL TRUST		798,800		–
7 ELEVEN MALAYSIA HOLDINGS B		218,400		83,107
AAMRQ EXP		74,074		145,899
ABB LTD REG		56,328		1,509,787
ABBOTT LABORATORIES		134,545		7,678,483
ABERCROMBIE + FITCH CO CL A		8,127		141,654
ACTIVISION BLIZZARD INC		14,680		929,538
ADECCO GROUP AG REG		8,280		633,426
ADIDAS AG		2,455		492,752
ADOBE SYSTEMS INC		14,667		2,570,245
ADURO BIOTECH INC		44,694		335,205
ADVANCED DRAINAGE SYSTEMS IN		54,570		1,301,495
AEGION CORP		5,724		145,360
AERCAP HOLDINGS NV		13,750		723,388
AERIE PHARMACEUTICALS INC		23,073		1,378,612
AEROJET ROCKETDYNE HOLDINGS		25,045		781,404
AETNA INC		35,650		6,430,904
AFFIMED NV		63,684		82,789
AFLAC INC		89,100		7,821,198
AGCO CORP		73,100		5,221,533
AGEAS		15,111		738,786
AGILENT TECHNOLOGIES INC		26,400		1,768,008
AGIOS PHARMACEUTICALS INC		2,106		120,400
AIA GROUP LTD		1,462,027		12,465,186
AIR LIQUIDE SA		30,819		3,887,634
AIRBUS SE		14,588		1,453,934
ALASKA AIR GROUP INC		12,500		918,875
ALBEMARLE CORP		9,781		1,250,892
ALEXION PHARMACEUTICALS INC		21,044		2,516,652
ALFA LAVAL AB		83,600		1,978,831
ALFRESA HOLDINGS CORP		27,500		646,183
ALIBABA GROUP HOLDING SP ADR		52,958		9,131,548
ALLEGHANY CORP		11,500		6,855,035
ALLERGAN PLC		13,898		2,273,435
ALLETE INC		23,166		1,722,624
ALLIANT ENERGY CORP		83,200		3,545,152
ALLIANZ SE REG		25,780		5,928,195
ALLSCRIPTS HEALTHCARE SOLUTI		88,584		1,288,897
ALLSTATE CORP		36,700		3,842,857
ALPHABET INC CL A		14,158		14,914,037
ALPHABET INC CL C		12,333		12,905,251
ALPS ELECTRIC CO LTD		12,500		357,301
ALROSA PJSC		317,023		412,886
ALTRA INDUSTRIAL MOTION CORP		14,008		706,139
AMAZON.COM INC		13,582		15,883,742
AMBEV SA-ADR		57,290		370,093
AMERICA MOVIL SAB DE C SER L		388,874		336,691
AMERICA MOVIL SPN ADR CL L		26,735		458,505
AMERICAN AIRLINES GROUP INC		56,517		2,940,580
AMERICAN EAGLE OUTFITTERS		18,738		352,274
AMERICAN EXPRESS CO		100		9,931
AMERICAN FINANCIAL GROUP INC		31,300		3,397,302
AMERICAN VANGUARD CORP		8,933		175,743
AMERIPRISE FINANCIAL INC		2,100		355,887
AMERIS BANCORP		18,671		899,942
AMICUS THERAPEUTICS INC		54,261		780,816
AMS AG		8,458		767,686
ANADOLU EFES BIRACILIK VE		95,747		611,108
ANALOG DEVICES INC		100		8,903
ANDEAVOR		14,281		1,632,890
ANGLO AMERICAN PLC		41,595		870,979
ANHEUSER BUSCH INBEV SA/NV		45,196		5,053,502
ANHEUSER-BUSCH INBEV-SPN ADR		15,750		1,757,070
ANIMA HOLDING SPA		59,934		428,934
ANTHEM INC		4,550		1,023,870
AP MOLLER MAERSK A/S B		144		251,752
APOLLO INVESTMENT CORP		86,259		488,226
APPLE INC		49,616		8,396,516
APPLIED MATERIALS INC		56,003		2,862,873
APTARGROUP INC		38,100		3,287,268
APTIV PLC		28,695		2,434,197
ARCBEST CORP		32,962		1,178,392
ARCELORMITTAL		14,450		470,488
ARCH COAL INC A		2,946		274,449
ARCHER DANIELS MIDLAND CO		224,600		9,001,968
ARDAGH GROUP SA		11,400		240,540
ARISTA NETWORKS INC		12,920		3,043,694
ARIZONA MINING INC		122,540		338,392
ARKEMA		6,802		829,444
ARRIS INTERNATIONAL PLC		135,000		3,468,150
ARTHUR J GALLAGHER + CO		91,000		5,758,480
ASM PACIFIC TECHNOLOGY		32,900		458,318
ASML HOLDING NV NY REG SHS		17,341		3,014,213
ASPEN PHARMACARE HOLDINGS LT		95,641		2,143,811
ASPEN TECHNOLOGY INC		8,009		530,196
ASSA ABLOY AB B		53,577		1,115,056
ASSICURAZIONI GENERALI		55,272		1,008,834
ASTRAZENECA PLC		58,120		4,026,223

20

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2017

Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares / Par Value		Current Value
ATLAS COPCO AB A SHS		69,550		3,008,807
ATLASSIAN CORP PLC CLASS A		63,845		2,906,224
ATRICURE INC		61,979		1,130,801
ATTIJARIWAFA BANK		8,056		417,168
AUTONATION INC		83,100		4,265,523
AVERY DENNISON CORP		37,400		4,295,764
AVIVA PLC		144,976		993,329
AXALTA COATING SYSTEMS LTD		70,524		2,282,157
AXCELIS TECHNOLOGIES INC		41,072		1,178,766
AXIS BANK LTD		160,575		1,415,621
AZZ INC		5,904		301,862
BAE SYSTEMS PLC		174,867		1,355,439
BAIDU INC SPON ADR		19,000		4,449,990
BALL CORP		806		30,507
BANC OF CALIFORNIA INC		69,249		1,429,992
BANCA GENERALI SPA		10,631		354,121
BANCA TRANSILVANIA SA		385,255		211,058
BANCO BILBAO VIZCAYA ARGENTA		526,600		4,497,212
BANCO BTG PACTUAL SA UNIT		60,043		343,739
BANCO MACRO SA ADR		1,059		122,717
BANCOLOMBIA S.A. SPONS ADR		4,159		164,946
BANCOLOMBIA SA		15,959		160,312
BANCORPSOUTH BANK		54,882		1,726,039
BANGKOK DUSIT MED SERVICE F		1,428,000		915,778
BANK CENTRAL ASIA TBK PT		773,700		1,248,869
BANK OF IRELAND GROUP PLC		196,381		1,673,103
BANK OF NEW YORK MELLON CORP		2,500		134,650
BANK OF NOVA SCOTIA		27,000		1,748,067
BANK OF NT BUTTERFIELD + SON		32,928		1,194,957
BAWAG GROUP AG		6,885		367,573
BAYER AG REG		50,280		6,279,128
BAYERISCHE MOTOREN WERKE AG		19,570		2,040,475
BB SEGURIDADE PARTICIPACOES		60,800		522,201
BBA AVIATION PLC		220,200		1,041,671
BEACON ROOFING SUPPLY INC		8,947		570,461
BECTON DICKINSON AND CO		24,820		5,312,969
BEIERSDORF AG		30,973		3,641,134
BENEFITFOCUS INC		18,620		502,740
BERKSHIRE HATHAWAY INC CL B		13,742		2,723,939
BEZEQ THE ISRAELI TELECOM CO		752,309		1,139,846
BHP BILLITON PLC		32,800		675,536
BID CORP LTD		24,347		591,939
BIDVEST GROUP LTD		10,260		180,743
BIOGEN INC		21,450		6,833,327
BLACK HILLS CORP		30,231		1,817,185
BLACK KNIGHT INC		56,203		2,481,362
BLACKBAUD INC		7,695		727,101
BLACKHAWK NETWORK HOLDINGS I		19,131		682,020
BLUCORA INC		48,801		1,078,502
BLUE APRON HOLDINGS INC A		81,400		328,042
BLUEBIRD BIO INC		6,704		1,193,982
BLUEPRINT MEDICINES CORP		7,388		557,129
BLUESCOPE STEEL LTD		40,339		484,941
BMC STOCK HOLDINGS INC		74,784		1,891,837
BNP PARIBAS		33,385		2,495,523
BOEING CO/THE		17,500		5,160,925
BOISE CASCADE CO		28,968		1,155,570
BOOKING HOLDINGS INC		3,706		6,440,064
BORGWARNER INC		169,060		8,637,275
BOSTON SCIENTIFIC CORP		126,001		3,123,565
BOX INC CLASS A		53,225		1,124,112
BP PLC		307,443		2,173,875
BRAMBLES LTD		19,665		154,886
BRENNTAG AG		26,341		1,669,130
BRIDGESTONE CORP		13,700		637,023
BRIGHTHOUSE FINANCIAL INC		30,301		1,776,851
BRINKER INTERNATIONAL INC		6,266		243,371
BRITISH AMERICAN TOBACCO PLC		74,073		5,028,148
BRITISH AMERICAN TOB-SP ADR		8,620		577,454
BROADCOM LTD		6,950		1,785,455
BT GROUP PLC		447,160		1,643,501
BUFFALO WILD WINGS INC		2,177		340,374
BUZZI UNICEM SPA		36,603		988,940
BWX TECHNOLOGIES INC		28,387		1,717,130
C+J ENERGY SERVICES INC		14,797		495,256
CACI INTERNATIONAL INC CL A		11,824		1,564,906
CAIXABANK S.A		464,439		2,168,889
CALITHERA BIOSCIENCES INC		33,976		283,700
CALLON PETROLEUM CO		99,361		1,207,236
CALTEX AUSTRALIA LTD		14,346		382,066
CANADIAN NATL RAILWAY CO		48,901		4,034,333
CANADIAN NATURAL RESOURCES		43,893		1,573,625
CANADIAN PACIFIC RAILWAY LTD		2,000		365,520
CAPEVIN HOLDINGS LTD		52,483		38,324
CAPGEMINI SE		7,835		930,384
CARDIOVASCULAR SYSTEMS INC		56,594		1,340,712
CARDTRONICS PLC A		21,173		392,124
CAROLINA FINANCIAL CORP		11,600		430,940
CARPENTER TECHNOLOGY		27,387		1,396,463
CASTLIGHT HEALTH INC-B		18,710		70,163
CAVIUM INC		10,363		868,730
CBOE GLOBAL MARKETS INC		15,025		1,871,965
CBS CORP CLASS B NON VOTING		125,809		7,422,731

21

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2017

Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares / Par Value		Current Value
CELANESE CORP SERIES A		48,600		5,204,088
CELGENE CORP		52,238		5,451,558
CENTRAL GARDEN AND PET CO A		23,313		879,133
CENTRAL PATTANA PUB CO FOREI		542,912		1,420,167
CERVED INFORMATION SOLUTIONS		19,521		248,473
CHAPARRAL ENERGY INC CLASS A		14,748		349,380
CHARTER COMMUNICATIONS INC A		8,081		2,714,893
CHECK POINT SOFTWARE TECH		38,300		3,968,646
CHEESECAKE FACTORY INC/THE		6,110		294,380
CHEFS WAREHOUSE INC/THE		24,900		510,450
CHESAPEAKE UTILITIES CORP		15,684		1,231,978
CHICO S FAS INC		57,165		504,195
CHINA MENGNIU DAIRY CO		301,000		895,226
CHINA MOBILE LTD		88,198		894,131
CHINA OVERSEAS LAND + INVEST		259,251		834,068
CHUBB LTD		1,100		160,743
CHURCHILL DOWNS INC		3,162		735,797
CIA BRASILEIRA DE DIS SP PRF		6,798		160,229
CIE FINANCIERE RICHEMONT REG		6,878		623,220
CIENA CORP		56,848		1,189,829
CIGNA CORP		27,314		5,547,200
CIMAREX ENERGY CO		65,012		7,932,114
CINEMARK HOLDINGS INC		143,100		4,982,742
CINTAS CORP		17,219		2,683,237
CIRCOR INTERNATIONAL INC		9,726		473,462
CITIGROUP INC		103,435		7,696,598
CITIZENS FINANCIAL GROUP		155,100		6,511,098
CITY DEVELOPMENTS LTD		58,600		547,676
CK INFRASTRUCTURE HOLDINGS L		122,000		1,047,971
CLEAN HARBORS INC		48,733		2,641,329
CLOETTA AB B SHS		327,131		1,186,661
CLOUDERA INC		29,423		486,068
CME GROUP INC		21,346		3,117,583
CNH INDUSTRIAL NV		17,100		229,361
COBIZ FINANCIAL INC		41,074		821,069
COCA COLA ICECEK AS		39,004		352,019
COFACE SA		79,555		851,551
COGNIZANT TECH SOLUTIONS A		11,852		841,729
COHEN + STEERS INC		19,306		912,981
COHERENT INC		2,873		810,818
COLFAX CORP		60,628		2,402,457
COLUMBIA SPORTSWEAR CO		8,619		619,534
COMCAST CORP CLASS A		87,754		3,514,548
COMMERCIAL INTERNATIONAL BAN		25,502		111,446
COMMERCIAL INTL BANK GDR REG		20,584		89,437
COMMERCIAL METALS CO		42,799		912,475
COMMONWEALTH BANK OF AUSTRALIA		39,074		2,455,330
COMMSCOPE HOLDING CO INC		14,410		545,130
COMPASS GROUP PLC		65,821		1,424,630
CONCHO RESOURCES INC		18,800		2,824,136
CONSTELLATION BRANDS INC A		5,500		1,257,135
CONTINENTAL AG		1,588		429,141
CONTINENTAL BUILDING PRODUCT		44,705		1,258,446
COSTAR GROUP INC		400		118,780
COSTCO WHOLESALE CORP		100		18,612
COTY INC CL A		105,089		2,090,220
CP ALL PCL FOREIGN		395,000		933,262
CRAY INC		10,018		242,436
CREDICORP LTD		5,212		1,081,125
CRH PLC		9,858		354,592
CRODA INTERNATIONAL PLC		15,039		900,019
CROSS COUNTRY HEALTHCARE INC		86,124		1,098,942
CROWN HOLDINGS INC		92,478		5,201,888
CSL LTD		14,600		1,613,560
CSX CORP		3,200		176,032
CTRIP.COM INTERNATIONAL ADR		9,640		425,124
CURTISS WRIGHT CORP		12,592		1,534,335
DABUR INDIA LTD		49,669		272,167
DAIFUKU CO LTD		1,900		103,560
DAIMLER AG REGISTERED SHARES		10,325		877,797
DAITO TRUST CONSTRUCT CO LTD		12,230		2,494,312
DAIWA HOUSE INDUSTRY CO LTD		23,700		910,341
DANAHER CORP		22,475		2,086,087
DANGOTE CEMENT PLC		1,291,327		821,427
DARDEN RESTAURANTS INC		47,900		4,599,358
DASSAULT SYSTEMES SA		52,496		5,584,466
DAVE + BUSTER S ENTERTAINMEN		20,251		1,117,248
DAVIDE CAMPARI MILANO SPA		102,757		795,253
DBS GROUP HOLDINGS LTD		304,576		5,663,509
DECKERS OUTDOOR CORP		8,192		657,408
DEL TACO RESTAURANTS INC		28,161		341,311
DELIVERY HERO AG		9,496		376,292
DELPHI TECHNOLOGIES PLC		10,326		541,805
DELTA AIR LINES INC		11,700		655,200
DENTSPLY SIRONA INC		78,456		5,164,758
DEUTSCHE POST AG REG		1,184		56,514
DEVON ENERGY CORP		192,002		7,948,883
DEXCOM INC		11,420		655,394
DHT HOLDINGS INC		165,720		594,935
DIAMONDBACK ENERGY INC		17,622		2,224,778
DISCO CORP		1,100		244,802
DISCOVER FINANCIAL SERVICES		113,879		8,759,840
DISTELL GROUP LTD		15,576		178,470

22

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2017

Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares / Par Value		Current Value
DOLLAR GENERAL CORP		45,819		4,261,801
DOMINO S PIZZA ENTERPRISES L		2,966		108,337
DOMINO S PIZZA GROUP PLC		26,432		123,608
DOMINO S PIZZA INC		3,367		636,763
DOWDUPONT INC		31,138		2,217,648
DSV A/S		33,727		2,657,734
DSW INC CLASS A		11,634		249,084
DTE ENERGY COMPANY		39,100		4,279,886
DXC TECHNOLOGY CO		77,980		7,400,302
E MART INC		1,911		483,752
E TRADE FINANCIAL CORP		114,200		5,660,894
E.ON SE		198,124		2,155,678
EAST JAPAN RAILWAY CO		4,700		458,735
EASTMAN CHEMICAL CO		63,564		5,888,569
EBAY INC		130,569		4,927,674
EDENRED		35,367		1,026,893
EDITA FOOD INDUSTRIES SAE		133,263		120,671
EDWARDS LIFESCIENCES CORP		18,426		2,076,794
EISAI CO LTD		41,200		2,346,553
ELECTRONIC ARTS INC		41,428		4,352,426
EMBOTELLADORA ANDINA ADR B		6,031		180,930
ENDOLOGIX INC		78,567		420,333
ENERGEN CORP		60,800		3,500,256
ENERPLUS CORP		34,054		333,389
ENGIE BRASIL ENERGIA SA		14,854		159,014
ENI SPA		69,235		1,147,296
ENQUEST PLC		1,058,628		408,137
ENSCO PLC CL A		68,088		402,400
ENSIGN GROUP INC/THE		15,044		332,969
ENTEGRIS INC		29,300		892,185
ENVISION HEALTHCARE CORP		69,167		2,390,412
EPAM SYSTEMS INC		17,230		1,851,019
EQUITY GROUP HOLDINGS LTD		920,363		356,557
ESTERLINE TECHNOLOGIES CORP		7,374		550,838
ETSY INC		18,813		384,726
EVERCORE INC A		6,052		544,680
EXLSERVICE HOLDINGS INC		30,224		1,824,018
EXPEDIA INC		11,611		1,390,649
EXPERIAN PLC		46,238		1,023,293
EXTRACTION OIL + GAS INC		15,954		228,302
EZAKI GLICO CO LTD		6,700		334,257
FABRINET		1,216		34,899
FACEBOOK INC A		99,940		17,635,412
FANUC CORP		25,478		6,120,148
FARMER BROS CO		64,008		2,057,857
FASTENAL CO		4,377		239,378
FCMB GROUP PLC		5,815,732		23,748
FEDEX CORP		21,542		5,375,591
FERRARI NV		4,400		461,296
FERRO CORP		62,183		1,466,897
FERROGLOBE PLC		47,495		769,419
FIAT CHRYSLER AUTOMOBILES NV		12,595		225,500
FIDELITY NATIONAL INFO SERV		79,958		7,523,248
FIDELITY SOUTHERN CORP		15,400		335,720
FIRST BANCSHARES INC/MS		8,200		280,440
FIRST BUSINESS FINANCIAL SER		6,200		137,144
FIRST QUANTUM MINERALS LTD		75,241		1,057,500
FIRST REPUBLIC BANK/CA		44,843		3,885,198
FIRSTCASH INC		19,762		1,332,947
FISERV INC		11,200		1,468,656
FIVE POINT HOLDINGS LLC CL A		51,977		732,936
FIVE PRIME THERAPEUTICS INC		10,499		230,138
FLEETCOR TECHNOLOGIES INC		6,020		1,158,490
FLEX LTD		325,000		5,846,293
FNF GROUP		148,600		5,831,064
FORD MOTOR CO		278,246		3,475,293
FORESCOUT TECHNOLOGIES INC		4,466		142,421
FORTIVE CORP		14,950		1,081,633
FORTUNE BRANDS HOME + SECURI		34,442		2,357,210
FRANKLIN RESOURCES INC		52,332		2,267,546
FRESENIUS MEDICAL CARE AG +		24,410		2,572,966
FRESH DEL MONTE PRODUCE INC		31,167		1,485,731
FUCHS PETROLUB SE		9,900		479,915
FUJI MACHINE MFG CO LTD		14,800		284,439
FUYAO GLASS INDUSTRY GROUP H		64,600		272,290
G1 THERAPEUTICS INC		17,389		344,998
GAM HOLDING AG		12,434		200,960
GARDNER DENVER HOLDINGS INC		51,748		1,755,810
GARTNER INC		19,145		2,357,707
GASTAR EXPLORATION LTD		109,186		114,645
GENERAC HOLDINGS INC		2,359		116,802
GENTING SINGAPORE PLC		403,053		395,091
GENWORTH MORTGAGE INSURANCE		218,310		512,254
GKN PLC		419,432		1,812,233
GLENCORE PLC		223,241		1,177,758
GLOBAL BLOOD THERAPEUTICS IN		13,184		518,790
GLOBAL PAYMENTS INC		64,426		6,458,062
GLOBAL PORTS INV GDR REG S		15,782		59,972
GLOBANT SA		17,969		834,840
GLOBUS MEDICAL INC A		47,991		1,972,430
GLYCOMIMETICS INC		28,221		473,831
GMO PAYMENT GATEWAY INC		7,700		637,053
GODREJ CONSUMER PRODUCTS LTD		1,279		20,038

23

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2017

Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares / Par Value		Current Value
*GOLDMAN SACHS GROUP INC		537,439		136,917,960
GOODYEAR TIRE + RUBBER CO		73,075		2,361,053
GRANITE CONSTRUCTION INC		41,418		2,627,144
GREENBRIER COMPANIES INC		6,428		342,612
GREENYARD NV		7,363		177,758
GRIFOLS SA		27,000		791,898
GRIFOLS SA ADR		35,500		813,660
GROUPON INC		138,084		704,228
GRUBHUB INC		14,122		1,013,960
GRUPO FINANCIERO BANORTE O		448,157		2,472,188
GRUPO FINANCIERO INBURSA O		242,854		399,554
GS RETAIL CO LTD		9,958		374,861
GTY TECHNOLOGY HOLDINGS INC		3,141		32,352
GUARANTY TRUST BANK		1,423,847		161,172
GUARANTY TRUST BANK GDR REGS		92,805		537,341
GUIDEWIRE SOFTWARE INC		31,703		2,354,265
HAKUHODO DY HOLDINGS INC		18,600		241,561
HAMILTON LANE INC CLASS A		22,651		801,619
HANESBRANDS INC		86,629		1,811,412
HANSSEM CO LTD		545		91,635
HARMONIC DRIVE SYSTEMS INC		2,110		123,435
HARRIS CORP		20,004		2,833,567
HARTFORD FINANCIAL SVCS GRP		56,336		3,170,511
HASBRO INC		48,900		4,444,521
HCA HEALTHCARE INC		67,500		5,929,200
HDFC BANK LIMITED FOREIGN		41,016		1,202,575
HDFC BANK LTD ADR		16,800		1,708,056
HEINEKEN HOLDING NV		10,521		1,042,147
HEINEKEN NV		17,807		1,858,794
HELIX ENERGY SOLUTIONS GROUP		33,005		248,858
HENDERSON LAND DEVELOPMENT		143,916		948,112
HENGAN INTL GROUP CO LTD		35,381		392,629
HEWLETT PACKARD ENTERPRISE		328,000		4,710,080
HIKMA PHARMACEUTICALS PLC		29,013		445,065
HILLTOP HOLDINGS INC		52,281		1,324,278
HILTON WORLDWIDE HOLDINGS IN		45,455		3,630,036
HITACHI TRANSPORT SYSTEM LTD		45,000		1,173,236
HMS HOLDINGS CORP		82,603		1,400,449
HOLOGIC INC		137,100		5,861,025
HOME DEPOT INC		9,800		1,857,394
HONEYWELL INTERNATIONAL INC		27,531		4,222,154
HOOKER FURNITURE CORP		12,254		520,182
HORIZON BANCORP INDIANA		24,064		668,979
HORMEL FOODS CORP		57,600		2,096,064
HOSTESS BRANDS INC		161,866		2,397,278
HSBC HOLDINGS PLC		320,799		3,328,045
HUB GROUP INC CL A		8,312		398,145
HUBBELL INC		28,100		3,803,054
HUBSPOT INC		19,568		1,730,086
HUMANA INC		4,400		1,091,508
HURON CONSULTING GROUP INC		25,730		1,040,779
HYSTER YALE MATERIALS		825		70,257
IBERDROLA SA		332,721		2,580,973
IBERIABANK CORP		44,891		3,479,053
ICICI BANK LTD SPON ADR		201,980		1,965,265
IHS MARKIT LTD		92,210		4,163,282
II VI INC		16,057		753,876
ILLUMINA INC		8,468		1,850,173
IMCD GROUP NV		13,001		818,516
IMPAX LABORATORIES INC		53,775		895,354
IMPERIAL BRANDS PLC		5,550		237,696
INCYTE CORP		1,300		123,123
INDEPENDENT BANK GROUP INC		22,207		1,501,193
INDUSTRIA DE DISENO TEXTIL		14,254		497,140
INFINEON TECHNOLOGIES AG		97,970		2,686,364
INFOSYS LTD		41,981		684,857
INFOSYS LTD SP ADR		27,966		453,609
ING GROEP NV		129,018		2,374,223
INGERSOLL RAND PLC		61,100		5,449,509
INGEVITY CORP		17,343		1,222,161
INGREDION INC		37,400		5,228,520
INNOGY SE		22,671		889,523
INSTALLED BUILDING PRODUCTS		19,066		1,448,063
INTACT FINANCIAL CORP		6,620		554,718
INTEGRATED DEVICE TECH INC		62,576		1,860,384
INTERCONTINENTAL EXCHANGE IN		98,920		6,979,795
INTERPUBLIC GROUP OF COS INC		165,300		3,332,448
INTERSECT ENT INC		26,285		851,634
INTL FLAVORS + FRAGRANCES		16,800		2,563,848
INTUIT INC		11,766		1,856,439
INTUITIVE SURGICAL INC		6,590		2,404,955
INVESTMENT TECHNOLOGY GROUP		31,603		608,358
IQVIA HOLDINGS INC		47,305		4,631,160
IRISH CONTINENTAL GROUP PLC		200,387		1,385,999
IROBOT CORP		11,204		859,347
ITAU UNIBANCO H SPON PRF ADR		230,505		2,996,565
ITOCHU CORP		16,319		304,650
ITRON INC		26,426		1,802,253
J2 GLOBAL INC		10,626		797,269
JACK IN THE BOX INC		6,560		643,602
JAGGED PEAK ENERGY INC		114,348		1,804,411
JAMBA INC		107,943		870,021
JCDECAUX SA		8,619		347,802

24

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2017

Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares / Par Value		Current Value
JD.COM INC ADR		7,843		324,857
JELD WEN HOLDING INC		52,239		2,056,649
JERONIMO MARTINS		49,980		971,948
JGC CORP		81,000		1,566,791
JOUNCE THERAPEUTICS INC		16,700		212,925
JPMORGAN CHASE + CO		73,512		7,861,373
JSR CORP		9,890		194,727
JUNIPER NETWORKS INC		117,756		3,356,046
JUST EAT PLC		73,456		776,061
JXTG HOLDINGS INC		29,040		187,413
KAISER ALUMINUM CORP		9,198		982,806
KALA PHARMACEUTICALS INC		18,912		349,683
KARYOPHARM THERAPEUTICS INC		32,210		309,216
KEMPER CORP		14,521		1,000,497
KENNEDY WILSON HOLDINGS INC		69,252		1,201,522
KERING		2,824		1,332,687
KERRY PROPERTIES LTD		52,500		236,063
KEYENCE CORP		6,048		3,388,813
KEYSIGHT TECHNOLOGIES IN		109,400		4,551,040
KIMBERLY CLARK CORP		30,902		3,728,635
KIMBERLY CLARK DE MEXICO A		22,210		39,299
KIWOOM SECURITIES CO LTD		2,840		232,389
KLA TENCOR CORP		20,000		2,101,400
KNIGHT SWIFT TRANSPORTATION		77,173		3,374,004
KOBE STEEL LTD		42,000		389,614
KOMERCNI BANKA AS		1,634		70,325
KONINKLIJKE KPN NV		214,300		748,320
KOSMOS ENERGY LTD		31,757		217,535
KOTAK MAHINDRA BANK LTD FOR		90,120		1,425,344
KUBOTA CORP		96,900		1,900,582
KYUSHU ELECTRIC POWER CO INC		35,000		366,933
L’OREAL		17,900		3,975,375
LAKELAND BANCORP INC		93,266		1,795,371
LAM RESEARCH CORP		900		165,663
LANDSTAR SYSTEM INC		34,700		3,612,270
LAS VEGAS SANDS CORP		8,598		597,475
LEG IMMOBILIEN AG		6,853		784,149
LEGACYTEXAS FINANCIAL GROUP		20,758		876,195
LENTA LTD REG S		51,015		296,907
LIBERTY GLOBAL PLC C		133,614		4,521,498
LIBERTY GLOBAL PLC A		30,614		1,097,206
LIBERTY GLOBAL PLC LILAC A		22,059		444,489
LIBERTY GLOBAL PLC LILAC C		29,331		583,394
LIBERTY INTERACTIVE CORP Q A		156,881		3,831,034
LIBERTY MEDIA CORP BRAVES C		52,775		1,172,661
LINDBLAD EXPEDITIONS HOLDING		110,202		1,078,878
LINDE AG TENDER		12,795		2,990,649
LINX SA		42,100		271,859
LKQ CORP		134,167		5,456,572
LOEWS CORP		59,255		2,964,528
LOJAS AMERICANAS SA		77,500		306,766
LOMA NEGRA CIA IND SPON ADR		5,253		121,029
LONGTOP FINANCIAL-SPON ADR		38,622		–
LOUISIANA PACIFIC CORP		18,148		476,566
LOWE S COS INC		6,860		637,568
LOXO ONCOLOGY INC		12,367		1,041,054
LUMENTUM HOLDINGS INC		4,092		200,099
LUNDIN MINING CORP		53,727		358,480
LVMH MOET HENNESSY LOUIS VUI		13,806		4,068,302
M/I HOMES INC		17,398		598,491
M3 INC		117,000		4,118,109
MAGNA INTERNATIONAL INC		11,783		669,956
MAGNIT PJSC		12,668		1,393,956
MAKINO MILLING MACHINE CO		15,000		151,931
MANTECH INTERNATIONAL CORP A		16,692		837,771
MARKEL CORP		4,600		5,239,998
MARRIOTT INTERNATIONAL CL A		15,057		2,043,687
MARSH + MCLENNAN COS		73,355		5,970,363
MASTERCARD INC A		77,397		11,714,810
MATADOR RESOURCES CO		10,279		319,985
MATCH GROUP INC		25,797		807,704
MAXIM INTEGRATED PRODUCTS		26,516		1,386,256
MAXIMUS INC		59,800		4,280,484
MB FINANCIAL INC		63,276		2,817,048
MBIA INC		93,836		686,880
MCBC HOLDINGS INC		21,663		481,352
MCDONALD S CORP		5,200		895,024
MEDIATEK INC		35,644		352,146
MEDICLINIC INTERNATIONAL PLC		144,980		1,273,810
MEDIPAL HOLDINGS CORP		28,800		564,240
MEDTRONIC PLC		52,287		4,222,175
MEG ENERGY CORP		82,000		336,390
MEGACABLE HOLDINGS CPO		95,374		389,968
MELCO RESORTS + ENTERT ADR		27,031		784,980
MERCK + CO. INC.		300		16,881
MERSANA THERAPEUTICS INC		5,800		95,294
METHANEX CORP		19,325		1,174,661
METLIFE INC		88,548		4,476,987
MGIC INVESTMENT CORP		244,772		3,453,733
MGM RESORTS INTERNATIONAL		63,690		2,126,609
MICHELIN (CGDE)		1,475		211,745
MICROCHIP TECHNOLOGY INC		5,900		518,492
MICROSOFT CORP		292,468		25,017,713

25

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2017

Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares / Par Value		Current Value
MILACRON HOLDINGS CORP		117,966		2,257,869
MINEBEA MITSUMI INC		39,600		830,668
MITSUBISHI CORP		19,447		537,404
MITSUBISHI ELECTRIC CORP		45,081		748,949
MITSUBISHI HEAVY INDUSTRIES		14,140		528,446
MITSUI + CO LTD		16,675		271,182
MKS INSTRUMENTS INC		12,147		1,147,892
MOLSON COORS BREWING CO B		55,472		4,552,587
MONARCH CASINO + RESORT INC		20,978		940,234
MONOLITHIC POWER SYSTEMS INC		7,450		837,082
MONOTARO CO LTD		47,000		1,501,997
MONRO INC		12,495		711,590
MONSTER BEVERAGE CORP		34,859		2,206,226
MOOG INC CLASS A		8,514		739,441
MORGAN STANLEY		198,242		10,401,758
MOSCOW EXCHANGE MICEX RTS PJ		102,830		193,974
MOTOROLA SOLUTIONS INC		80,856		7,304,531
MTN GROUP LTD		44,059		486,144
MUELLER WATER PRODUCTS INC A		20,842		261,150
MURATA MANUFACTURING CO LTD		3,400		456,352
MUSASHI SEIMITSU INDUSTRY CO		6,800		217,323
MYOKARDIA INC		39,500		1,662,950
NANOSTRING TECHNOLOGIES INC		59,966		447,946
NASPERS LTD N SHS		35,162		9,801,621
NATIONAL VISION HOLDINGS INC		4,850		196,959
NATIXIS		31,766		251,602
NAVER CORP		1,357		1,102,788
NESTLE NIGERIA PLC		49,637		214,541
NESTLE SA REG		42,368		3,643,344
NESTLE SA SPONS ADR		66,200		5,691,214
NETFLIX INC		8,700		1,670,052
NETGEAR INC		15,458		908,158
NEUROCRINE BIOSCIENCES INC		7,597		589,451
NEW YORK TIMES CO A		54,862		1,014,947
NEW ZEALAND REFINING CO LTD		276,117		520,392
NEXITY		8,103		482,807
NEXON CO LTD		23,400		681,332
NEXTERA ENERGY INC		1,400		218,666
NGK SPARK PLUG CO LTD		29,900		726,996
NICOLET BANKSHARES INC		7,000		383,180
NIDEC CORP		5,000		701,731
NIGERIAN BREWERIES PLC		619,355		232,258
NINTENDO CO LTD		2,513		918,868
NIPPON TELEGRAPH + TELEPHONE		13,600		639,979
NIPPON TELEVISION HOLDINGS		29,300		502,509
NIPPON THOMPSON CO LTD		15,600		124,772
NLEY US		27,154		–
NMI HOLDINGS INC CLASS A		65,674		1,116,458
NORTHERN DYNASTY MINERALS		117,924		208,725
NORTHROP GRUMMAN CORP		1,499		460,058
NORWEGIAN CRUISE LINE HOLDIN		2,600		138,450
NOVARTIS AG REG		41,089		3,474,329
NOVATEK PJSC SPONS GDR REG S		6,926		832,505
NRG YIELD INC CLASS C		80,277		1,517,235
NTT DOCOMO INC		71,700		1,693,686
NUANCE COMMUNICATIONS INC		158,288		2,589,894
NUTANIX INC A		29,856		1,053,320
O REILLY AUTOMOTIVE INC		100		24,054
OASIS PETROLEUM INC		61,473		516,988
OCEANFIRST FINANCIAL CORP		34,046		893,708
ODONTOPREV S.A.		74,500		357,329
OKTA INC		15,459		395,905
OLD DOMINION FREIGHT LINE		20,000		2,631,000
OLYMPUS CORP		12,700		487,031
OMNOVA SOLUTIONS INC		142,656		1,426,560
ONO PHARMACEUTICAL CO LTD		82,900		1,932,494
OPAP SA		28,015		353,224
ORASURE TECHNOLOGIES INC		7,000		132,020
ORBCOMM INC		121,868		1,240,616
ORORA LTD		168,005		445,463
OTONOMY INC		36,303		201,482
OTP BANK PLC		16,206		672,500
OWENS CORNING		40,600		3,732,764
PACCAR INC		78,000		5,544,240
PACIFIC BIOSCIENCES OF CALIF		82,967		219,033
PACIFIC PREMIER BANCORP INC		28,295		1,131,800
PACKAGING CORP OF AMERICA		30,200		3,640,610
PAPA JOHN S INTL INC		24,176		1,356,515
PARK24 CO LTD		55,500		1,328,748
PARKER HANNIFIN CORP		34,123		6,810,268
PARSLEY ENERGY INC CLASS A		170,100		5,007,744
PATTERN ENERGY GROUP INC A		20,578		442,221
PAYLOCITY HOLDING CORP		10,899		513,997
PAYPAL HOLDINGS INC		168,268		12,387,890
PDC ENERGY INC		81,869		4,219,528
PEGASYSTEMS INC		10,880		512,992
PENUMBRA INC		8,261		777,360
PEPSICO INC		32,865		3,941,171
PERFORMANCE FOOD GROUP CO		66,035		2,185,759
PERRIGO CO PLC		49,000		4,270,840
PERSIMMON PLC		22,682		840,102
PFIZER INC		149,973		5,432,022
PGT INNOVATIONS INC		18,323		308,743

26

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2017

Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares / Par Value		Current Value
PHILIP MORRIS INTERNATIONAL		56,016		5,918,090
PICK N PAY STORES LTD		104,154		585,214
PLATINUM GROUP METALS LTD		15,850		4,807
PNC FINANCIAL SERVICES GROUP		28,576		4,123,231
PNM RESOURCES INC		37,838		1,530,547
POLYONE CORPORATION		44,092		1,918,002
PORTOLA PHARMACEUTICALS INC		25,251		1,229,219
PPLA PARTICIPATIONS LTD		6,371		2,574
PRA HEALTH SCIENCES INC		25,074		2,283,489
PRAXAIR INC		19,132		2,959,338
PRICESMART INC		3,600		309,960
PROCTER + GAMBLE CO/THE		50,962		4,682,389
PROGRESSIVE CORP		80,269		4,520,750
PROOFPOINT INC		22,135		1,965,809
PROPETRO HOLDING CORP		53,735		1,083,298
PRUDENTIAL PLC		47,166		1,215,781
PUREGOLD PRICE CLUB INC		47,000		47,075
QBE INSURANCE GROUP LTD		41,140		343,657
QUANTA SERVICES INC		157,000		6,140,270
QUANTENNA COMMUNICATIONS INC		31,770		387,594
QUEST DIAGNOSTICS INC		61,000		6,008,428
QUOTIENT TECHNOLOGY INC		25,786		302,986
RA PHARMACEUTICALS INC		22,977		195,305
RAMBUS INC		55,346		787,020
RANDGOLD RESOURCES LTD		3,394		340,210
RANGER ENERGY SERVICES INC		4,144		38,282
RAYTHEON COMPANY		100		18,785
RED HAT INC		11,145		1,338,515
REGAL ENTERTAINMENT GROUP A		19,641		451,939
REGENERON PHARMACEUTICALS		3,213		1,207,959
RELIANCE STEEL + ALUMINUM		96,300		8,261,577
REMY COINTREAU		6,258		867,937
RENTOKIL INITIAL PLC		44,860		192,976
REPUBLIC SERVICES INC		51,700		3,495,437
REXNORD CORP		23,037		599,423
RIGEL PHARMACEUTICALS INC		56,900		220,772
RINGCENTRAL INC CLASS A		11,159		540,096
RIO TINTO PLC		13,857		738,930
ROCHE HOLDING AG GENUSSCHEIN		15,090		3,817,019
ROGERS CORP		11,967		1,937,483
ROPER TECHNOLOGIES INC		13,477		3,490,543
ROSS STORES INC		18,100		1,452,525
ROYAL CARIBBEAN CRUISES LTD		8,100		966,168
ROYAL DUTCH SHELL PLC B SHS		156,722		5,318,162
RSA INSURANCE GROUP PLC		35,179		300,997
RUMO SA		109,616		428,603
S+P GLOBAL INC		27,983		4,740,320
SABRE CORP		32,482		665,881
SAFRAN SA		15,786		1,628,496
SAILPOINT TECHNOLOGIES HOLDI		14,463		209,714
SALESFORCE.COM INC		31,058		3,175,059
SAMSONITE INTERNATIONAL SA		34,500		158,437
SAMSUNG ELECTR GDR		2,310		2,767,380
SAMSUNG ELECTRO REGS GDR PFD		3,275		3,229,150
SAMSUNG ELECTRONICS CO LTD		957		2,277,741
SAMSUNG FIRE + MARINE INS		7,257		1,809,929
SANDVIK AB		34,674		608,568
SANNE GROUP PLC		22,612		248,072
SAP SE SPONSORED ADR		34,050		3,825,858
SASOL LTD		43,850		1,516,615
SBERBANK OF RUSSIA PJSC		491,682		1,923,300
SCHLUMBERGER LTD		38,640		2,603,950
SCHNEIDER ELECTRIC SE		16,588		1,411,451
SCHWAB (CHARLES) CORP		132,630		6,813,203
SCHWEITZER MAUDUIT INTL INC		22,378		1,015,066
SCIENCE APPLICATIONS INTE		14,452		1,106,590
SCSK CORP		5,000		230,803
SEALED AIR CORP		10,101		497,979
SELECT ENERGY SERVICES INC A		17,558		320,258
SEMEN INDONESIA PERSERO TBK		68,276		49,820
SEMGROUP CORP CLASS A		47,180		1,424,836
SEMPRA ENERGY		1,200		128,304
SENKO GROUP HOLDINGS CO LTD		34,300		247,849
SERVICENOW INC		20,141		2,626,185
SES		70,858		1,106,973
SEVEN & I HOLDINGS CO LTD		84,547		3,513,476
SEVEN + I HOLDINGS CO LTD		27,875		1,158,798
SHERWIN WILLIAMS CO/THE		2,372		972,615
SHIN ETSU CHEMICAL CO LTD		9,752		991,215
SHINHAN FINANCIAL GROUP LTD		31,499		1,453,506
SHIRE PLC		55,250		2,914,838
SHIRE PLC ADR		11,630		1,804,046
SIEMENS AG REG		11,399		1,589,852
SILICON LABORATORIES INC		16,101		1,421,718
SILTRONIC AG		2,854		415,705
SILVER RUN ACQUISITION CORP		78,261		817,436
SIMPLY GOOD FOODS CO/THE		114,406		1,495,846
SKECHERS USA INC CL A		15,527		587,542
SMC CORP		800		329,374
SMITH (A.O.) CORP		19,387		1,188,035
SMITH + NEPHEW PLC		37,572		654,633
SMURFIT KAPPA GROUP PLC		37,137		1,257,108
SOLAR CAPITAL LTD		37,240		752,620

27

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2017

Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares / Par Value		Current Value
SOLARIS OILFIELD INFRAST A		19,752		422,890
SONIC CORP		4,412		121,242
SONOVA HOLDING AG REG		10,710		1,672,716
SONY CORP		22,100		997,198
SONY FINANCIAL HOLDINGS INC		36,890		653,639
SOUTHWEST GAS HOLDINGS INC		11,684		940,328
SPIRIT AIRLINES INC		26,045		1,168,118
SRC ENERGY INC		91,113		777,194
SSE PLC		53,515		955,580
STANDARD BANK GROUP LTD		34,094		538,839
STANLEY BLACK + DECKER INC		9,389		1,593,219
STARBUCKS CORP		600		34,458
STATE AUTO FINANCIAL CORP		20,758		604,473
STATE STREET CORP		15,300		1,493,433
STERLING BANCORP/DE		102,651		2,525,215
STEVEN MADDEN LTD		21,748		1,015,632
STRYKER CORP		17,158		2,656,745
SUMCO CORP		33,328		854,428
SUMITOMO MITSUI FINANCIAL GR		57,000		2,463,169
SUMITOMO OSAKA CEMENT CO LTD		59,000		284,394
SUMMIT MATERIALS INC CL A		34,402		1,081,598
SUN PHARMACEUTICAL INDUS		103,645		925,502
SUNCOR ENERGY INC		43,366		1,597,303
SUNTRUST BANKS INC		122,100		7,886,439
SUZUKEN CO LTD		12,000		493,742
SVB FINANCIAL GROUP		7,490		1,750,937
SYDNEY AIRPORT		67,509		372,255
SYMANTEC CORP		130,148		3,651,953
SYMRISE AG		24,780		2,131,112
SYNDAX PHARMACEUTICALS INC		32,269		282,676
SYNEOS HEALTH INC		22,800		994,677
SYNOPSYS INC		35,100		2,991,924
SYSCO CORP		94,700		5,751,131
SYSMEX CORP		41,800		3,291,309
TABLEAU SOFTWARE INC CL A		36,320		2,513,344
TAIHEIYO CEMENT CORP		7,732		333,921
TAIWAN SEMICONDUCTOR MANUFAC		401,596		3,097,141
TAIWAN SEMICONDUCTOR SP ADR		107,800		4,274,270
TAKE TWO INTERACTIVE SOFTWRE		38,738		4,252,658
TAPESTRY INC		900		39,807
TARSUS GROUP PLC		89,456		395,708
TATA CONSULTANCY SVCS LTD		10,277		434,733
TD AMERITRADE HOLDING CORP		82,162		4,200,943
TECHTRONIC INDUSTRIES CO LTD		25,500		166,199
TEGNA INC		70,588		993,879
TELADOC INC		53,939		1,879,774
TELENET GROUP HOLDING NV		19,225		1,341,030
TELESITES SAB DE CV		146,676		111,850
TELEVISION FRANCAISE (T.F.1)		34,568		509,941
TENARIS SA ADR		39,200		1,248,912
TENCENT HOLDINGS LTD UNS ADR		82,772		4,297,522
TERNIUM SA SPONSORED ADR		6,585		208,020
TESLA INC		3,585		1,116,190
TEVA PHARMACEUTICAL SP ADR		69,947		1,325,496
TEXAS CAPITAL BANCSHARES INC		9,305		827,215
TEXAS INSTRUMENTS INC		5,300		553,532
TEXAS ROADHOUSE INC		7,492		394,679
TEXTRON INC		111,700		6,321,103
THAI BEVERAGE PCL		1,082,909		745,493
THERMO FISHER SCIENTIFIC INC		28,593		5,429,239
TIFFANY + CO		48,900		5,083,155
TINGYI (CAYMAN ISLN) HLDG CO		524,000		1,018,849
TJX COMPANIES INC		59,550		4,553,193
T-MOBILE US INC		23,727		1,506,902
TOKIO MARINE HOLDINGS INC		32,420		1,479,549
TOKYO ELECTRON LTD		6,500		1,177,097
TOKYO OHKA KOGYO CO LTD		9,080		392,137
TOPBUILD CORP		59,550		4,510,317
TOTAL SA		32,310		1,786,447
TOTVS SA		35,867		323,193
TOWNE BANK		7,234		222,446
TRANSCANADA CORP		14,300		698,251
TRANSURBAN GROUP		65,137		633,270
TREASURY WINE ESTATES LTD		49,720		620,660
TREVENA INC		99,212		158,739
TRI POINTE GROUP INC		64,620		1,158,646
TRINET GROUP INC		57,998		2,571,631
TRIPADVISOR INC		80,552		2,775,822
TRIUMPH BANCORP INC		67,302		2,120,113
TRUPANION INC		25,306		740,707
TULLOW OIL PLC		294,215		822,267
TURKIYE GARANTI BANKASI		469,260		1,326,740
TURKIYE GARANTI BANKASI ADR		480,800		1,360,664
TWENTY FIRST CENTURY FOX B		27,256		929,975
UBM PLC		50,677		512,093
UBS GROUP AG REG		73,940		1,361,194
UCB SA		27,184		2,160,284
ULKER BISKUVI SANAYI		37,160		192,778
ULTA BEAUTY INC		200		44,732
ULTRAGENYX PHARMACEUTICAL IN		1,000		46,380
ULTRAPAR PARTICIPACOES SA		16,208		366,465
ULTRAPAR PARTICPAC SPON ADR		9,887		224,732
UMPQUA HOLDINGS CORP		91,041		1,893,653

28

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2017

Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares / Par Value		Current Value
UNICAJA BANCO SA		347,368		548,095
UNICHARM CORP		1,000		26,005
UNICREDIT SPA		106,289		1,988,504
UNILEVER PLC		91,457		5,104,004
UNION PACIFIC CORP		200		26,820
UNITED CONTINENTAL HOLDINGS		7,755		522,687
UNITED TECHNOLOGIES CORP		48,645		6,205,643
UNITEDHEALTH GROUP INC		22,700		5,004,442
UNIVERSAL HEALTH SERVICES-B		37,150		4,210,953
UNIVERSAL ROBINA CORP		259,090		783,706
US CONCRETE INC		13,424		1,122,918
VEEVA SYSTEMS INC CLASS A		41,467		2,292,296
VERISK ANALYTICS INC		27,207		2,611,872
VERTEX PHARMACEUTICALS INC		18,700		2,802,382
VF CORP		147,305		10,900,093
VISA INC CLASS A SHARES		148,682		16,952,722
VMWARE INC CLASS A		3,200		401,024
VRS RES		1,299		–
WABTEC CORP		18,724		1,524,695
WAGEWORKS INC		22,890		1,419,180
WALT DISNEY CO/THE		27,424		2,948,354
WARRIOR MET COAL INC		29,526		742,579
WASTE CONNECTIONS INC		56,366		3,998,604
WAYFAIR INC CLASS A		12,140		974,478
WEIBO CORP SPON ADR		20,825		2,154,555
WEST PHARMACEUTICAL SERVICES		9,541		941,410
WESTPORTS HOLDINGS BHD		156,400		142,990
WH GROUP LTD		970,000		1,094,419
WHIRLPOOL CORP		7,766		1,309,658
WILLIS TOWERS WATSON PLC		8,787		1,324,113
WINGSTOP INC		46,824		1,825,200
WISDOMTREE INVESTMENTS INC		74,474		934,649
WIX.COM LTD		5,780		332,639
WOLTERS KLUWER		15,436		805,926
WOLVERINE WORLD WIDE INC		16,156		515,053
WORKDAY INC CLASS A		18,403		1,872,321
WORLDPAY INC CLASS A		83,974		6,176,288
WPP PLC		100,500		1,823,108
WR BERKLEY CORP		83,200		5,961,280
WYNN RESORTS LTD		6,222		1,048,967
XCEL ENERGY INC		83,900		4,036,429
XILINX INC		914		61,586
XO GROUP INC		18,972		350,223
XYLEM INC		52,800		3,600,960
YAMAHA MOTOR CO LTD		23,700		777,377
YAPI VE KREDI BANKASI		448,770		513,678
YUM BRANDS INC		20,100		1,640,361
YUM CHINA HOLDINGS INC		21,600		864,499
Z ENERGY LTD		93,112		507,917
ZALANDO SE		6,063		321,177
ZEALAND PHARMA A/S		2,655		36,397
ZEALAND PHARMA A/S ADR		2,846		38,706
ZENDESK INC		22,923		775,714
ZOETIS INC		2,300		165,647
ZUR ROSE GROUP AG		4,085		549,138
ZURICH INSURANCE GROUP AG		8,246		2,509,763
ZYNGA INC CL A		90,927		362,541
Total Common Stock			$	1,778,028,173

29

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2017

Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares / Par Value		Current Value
Preferred Stock
ADELQ 5.5 ESC		3,100	$	–
ADELQ 7.5PRSESC		9,200		–
ADLAC 7.5PRSESC		182,700		–
BANCOLOMBIA SA PREF		1,732		17,364
CIA BRASILEIRA DE DIS PREF		15,317		364,466
EMBOTELLADORA ANDINA A PREF		18,906		87,616
FUCHS PETROLUB SE PREF		20,910		1,111,061
GBM STUB ESC		17,985		–
GPM STUB ESC		8,375		–
ITAUSA INVESTIMENTOS ITAU PR		321,738		1,049,472
LOJAS AMERICANAS SA PREF		31,159		160,158
NAVIENT CORP		900		22,500
SAMSUNG ELECTRONICS PREF		880		1,717,995
SAMSUNG FIRE + MARINE INS PF		649		107,303
VOLKSWAGEN AG PREF		8,097		1,618,373
Total Preferred Stock			$	6,256,308
Mutual Funds
PIMCO FDS SHORT TERM FLTG NAV		634,804	$	6,352,485
STATE STREET INSTITUTIONAL TREASURY PLUS MONEY MARKET FUND		894		894
ISHARES CORE MSCI EAFE ETF		40,992		2,709,161
ISHARES RUSSELL 2000 ETF		23,106		3,524,241
Total Mutual Funds			$	12,586,781
Real Estate Investments Trusts
AGREE REALTY CORP		11,974	$	615,943
ALEXANDRIA REAL ESTATE EQUIT		42,540		5,555,299
AMERICAN HOMES 4 RENT A		226,870		4,954,841
APARTMENT INVT + MGMT CO A		75,440		3,297,482
AVALONBAY COMMUNITIES INC		62,820		11,207,716
BOSTON PROPERTIES INC		55,020		7,154,251
CAMDEN PROPERTY TRUST		38,320		3,527,739
CHESAPEAKE LODGING TRUST		58,320		1,579,889
COLUMBIA PROPERTY TRUST INC		80,870		1,855,967
CORPORATE OFFICE PROPERTIES		88,140		2,573,688
COUSINS PROPERTIES INC		397,294		3,674,970
CROWN CASTLE INTL CORP		55,598		6,171,934
CUBESMART		225,266		6,514,693
CYRUSONE INC		66,420		3,953,983
DCT INDUSTRIAL TRUST INC		42,270		2,484,631
DDR CORP		186,900		1,674,624
DOUGLAS EMMETT INC		60,184		2,471,155
DUKE REALTY CORP		153,226		4,169,279
EQUINIX INC		35,732		16,194,457
ESSEX PROPERTY TRUST INC		17,710		4,274,663
EXTRA SPACE STORAGE INC		29,100		2,544,795
GGP INC		206,470		4,829,333
GECINA SA		1,187		219,361
HANNON ARMSTRONG SUSTAINABLE		19,681		473,525
HCP INC		223,390		5,826,011
HEALTHCARE TRUST OF AME CL A		220,280		6,617,211
HIGHWOODS PROPERTIES INC		64,380		3,277,586
HOST HOTELS + RESORTS INC		101,170		2,008,225
HUDSON PACIFIC PROPERTIES IN		74,517		2,552,207
INMOBILIARIA COLONIAL SOCIMI		50,536		502,643
INVITATION HOMES INC		240,941		5,678,979
IRON MOUNTAIN INC		166,423		6,279,140
JBG SMITH PROPERTIES		64,860		2,252,588
KILROY REALTY CORP		40,000		2,986,000
KIMCO REALTY CORP		118,130		2,144,060
LAMAR ADVERTISING CO A		70,200		5,211,648
LASALLE HOTEL PROPERTIES		186,712		5,241,006
LINK REIT		129,885		1,204,100
MACK CALI REALTY CORP		176,940		3,814,826
MEDICAL PROPERTIES TRUST INC		142,660		1,965,855
MONMOUTH REAL ESTATE INV COR		70,985		1,263,533
NATIONAL RETAIL PROPERTIES		118,200		5,097,966
NATIONAL STORAGE AFFILIATES		101,487		2,769,164
PARK HOTELS + RESORTS INC		80,361		2,310,379
PHYSICIANS REALTY TRUST		22,221		399,711
POTLATCHDELTIC CORP		20,069		1,001,443
PREFERRED APARTMENT COMMUN A		44,067		892,357
PROLOGIS INC		180,860		11,667,279
PS BUSINESS PARKS INC/CA		19,625		2,454,891
PUBLIC STORAGE		13,320		2,783,880
REALTY INCOME CORP		55,840		3,183,997
REDWOOD TRUST INC		74,750		1,107,795
REGENCY CENTERS CORP		67,240		4,651,663
REXFORD INDUSTRIAL REALTY IN		120,393		3,510,609
SIMON PROPERTY GROUP INC		84,450		14,503,443
STAG INDUSTRIAL INC		104,210		2,848,059
STORE CAPITAL CORP		120,150		3,128,706
SUN COMMUNITIES INC		53,170		4,933,113
SUNSTONE HOTEL INVESTORS INC		108,610		1,795,323
TAUBMAN CENTERS INC		20,670		1,352,438
TWO HARBORS INVESTMENT CORP		68,185		1,108,688
UDR INC		123,710		4,765,309

30

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2017

Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares / Par Value		Current Value
URBAN EDGE PROPERTIES		91,657		2,336,337
VEREIT INC		593,080		4,620,093
VORNADO REALTY TRUST		55,960		4,374,953
WEINGARTEN REALTY INVESTORS		93,574		3,075,777
WELLTOWER INC		75,160		4,792,953
QTS REALTY TRUST INC CL A		60,164		3,258,482
Total Real Estate Investments Trusts			$	259,524,644
Derivatives
31750AKV5 OTC ECAL USD VS BRL JAN18 6.3 CALL		200,000	$	–
31750C4V9 OTC ECAL USD VS JPY APR17 120 CALL		364,000		4,452
31750C4X5 OTC ECAL USD VS JPY APR17 120 CALL		258,000		3,156
3175C5250 OTC ECAL WTI BRENT B OCT18 2 CALL		6,000		60
317U055N6 IRO USD 1Y P 2.40000 MAR18 2.4 PUT		31,300,000		65
8AH8C J8 NYM ECAL NAT GAS CSO FEB18 0.5 CALL		20,000		1,400
8AH8C J8 NYM ECAL NAT GAS CSO FEB18 1 CALL		140,000		6,020
90DAY EUR FUTR SEP18 XCME 20180917		20,250,000		2,025
90DAY STERLING FU DEC18 IFLL 20181219		17,551,961		3,629
90DAY STERLING FU JUN18 IFLL 20180620		9,113,518		1,715
90DAY STERLING FU MAR18 IFLL 20180321		10,294,900		433
90DAY STERLING FU MAR19 IFLL 20190320		10,294,900		1,878
90DAY STERLING FU SEP18 IFLL 20180919		10,294,900		1,899
AAPL US 01/18 P165 OTC AAPL US 01/18 P165 OTC		1,232,208		34,830
AMERICA MOVIL-SPN ADR CL L AMERICA MOVIL-SPN ADR CL L		165,669		5,915
ARGENTINE PESO FORWARD		21,277		723
AUST 10Y BOND FUT MAR18 XSFE 20180315		234,075		824
AUST 3YR BOND FUT MAR18 XSFE 20180315		1,092,350		1,152
B&M EUROPEAN VALUE RETAIL SA B&M EUROPEAN VALUE RETAIL SA		322,307		65,367
BRAZILIAN REAL FORWARD		1,222,408		50,217
BRENT CRUDE FUTR APR18 IFEU 20180228		18,000		12,060
BRENT CRUDE FUTR DEC18 IFEU 20181031		57,000		23,080
BRENT CRUDE FUTR DEC21 IFEU 20211029		19,000		10,450
BRENT CRUDE FUTR JUN20 IFEU 20200514		55,000		9,900
BRENT CRUDE FUTR MAY18 IFEU 20180329		8,000		5,040
BRENT CRUDE FUTR NOV18 IFEU 20180928		8,000		3,424
BRENT CRUDE FUTR OCT18 IFEU 20180831		18,000		8,100
BRENT CRUDE FUTR OPTN MAR18 66.5 CALL FSO		1,200,000		–
BRENT-DUBAI ICE AUG18 XNYM 20180831		13,000		–
BRENT-DUBAI ICE DEC18 XNYM 20181231		13,000		–
BRENT-DUBAI ICE NOV18 XNYM 20181130		13,000		–
BRENT-DUBAI ICE OCT18 XNYM 20181031		13,000		–
BRENT-DUBAI ICE SEP18 XNYM 20180928		13,000		–
BRITISH AMERICAN TOBACCO PLC BRITISH AMERICAN TOBACCO PLC		838,110		3,678
BRITISH POUND SPOT BRITISH POUND SPOT		18,680		18,680
BWU00FAA1 IRS USD R V 03MLIBOR 1% 15 Jun 2023		1,300,000		17,091
BWU00FMI1 IRS CAD R V 03MCDOR 1% 16 Jun 2026		636,436		7,039
BWU00IN94 IRS USD R V 03MLIBOR 1% 21 Dec 2023		16,900,000		498,711
BWU00IUR6 IRS USD R V 03MLIBOR 1% 01 Jul 2041		3,500,000		62,039
BWU00JR72 IRS USD R V 03MLIBOR 1% 21 Jun 2019		11,200,000		119,515
BWU00KWG3 IRS EUR R V 06MEURIB 1% 21 Mar 2048		599,925		2,089
BWU00KWK4 IRS EUR R V 06MEURIB 1% 21 Mar 2048		1,199,849		4,178
BWU00LCF5 IRS JPY R V 06MLIBOR 1% 20 Sep 2027		1,065,010		1,185
BWU00LCI9 IRS JPY R V 06MLIBOR 1% 20 Sep 2027		177,502		197
BWU00LO05 IRS CAD R V 03MCDOR 1% 15 Sep 2027		1,829,753		86,123
BWU00MIC4 IRS GBP R V 06MLIBOR 1% 21 Mar 2020		10,801,206		18,607
BWU00MZ27 IRS USD R V 03MLIBOR 1% 01 Apr 2020		54,800,000		90,327
BWU00NOK7 IRS USD R V 12MFEDL 1% 19 Sep 2018		11,400,000		222
CANADIAN DOLLAR (CAD) SPOT CANADIAN DOLLAR (CAD) SPOT		3,309		3,309
CCS0651Y9 CYS GBP R V 03MLIBOR 1% 13 Oct 2026		366,060		38,522
CCS26F586 CYS GBP R V 03MLIBOR 1% 21 Mar 2020		4,402,800		463,729
CCS280918 CYS AUD R V 03MBBSW 1% 06 Oct 2027		83,685		22
CCS3469B5 CYS GBP R V 03MLIBOR 1% 21 Mar 2020		2,112,000		50,902
CCS3470A4 CYS GBP R V 03MLIBOR 1% 21 Mar 2020		1,980,000		47,721
CCSAAR520 CYS GBP R V 03MLIBOR 1% 21 Mar 2020		733,800		77,288
CCSCCG122 CYS GBP R V 03MLIBOR 1% 13 Oct 2026		122,000		12,861
CHICAGO ETHANOL S APR18 XNYM 20180430		210,000		2,625
CHICAGO ETHANOL S JUN18 XNYM 20180629		210,000		2,100
CHICAGO ETHANOL S MAY18 XNYM 20180531		210,000		2,100
COPPER FUTURE MAR18 XCEC 20180327		550,000		4,400
CORN FUTURE MAY18 XCBT 20180514		170,000		2,125
CORN FUTURE SEP18 XCBT 20180914		95,000		1,663
DANISH KRONE FORWARD		7,539,378		118,574
ENVISION HEALTHCARE CORP ENVISION HEALTHCARE CORP		1,269,631		273,642
EURO CURRENCY FORWARD		597,046		4,706
EURO-BOBL FUTURE MAR18 XEUR 20180308		119,985		–
EUROPEAN MONETARY UNIT SPOT EUROPEAN MONETARY UNIT SPOT		493		493
EURO-SCHATZ FUT MAR18 XEUR 20180308		7,079,111		1,370
GASOLINE RBOB FUT APR18 XNYM 20180329		714,000		5,284
GASOLINE RBOB FUT MAY18 XNYM 20180430		84,000		731
GOLD 100 OZ FUTR DEC18 XCEC 20181227		900		11,250
HENRY HB LD1 APR18 IFED 20180327		30,000		–
HENRY HB LD1 AUG18 IFED 20180727		30,000		–
HENRY HB LD1 DEC18 IFED 20181128		30,000		–
HENRY HB LD1 FEB18 IFED 20180129		30,000		–
HENRY HB LD1 JUL18 IFED 20180627		30,000		–
HENRY HB LD1 MAY18 IFED 20180426		30,000		–
HENRY HB LD1 OCT18 IFED 20180926		30,000		–
HONG KONG DOLLAR SPOT HONG KONG DOLLAR SPOT		665		665
IMM EUR FUT OPT MAR18P 98.25 EXP 03/19/2018		132,500		6,956
INDIAN RUPEE FORWARD		662,057		13,680
INDONESIAN RUPIAH FORWARD		470,797		389

31

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2017

Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares / Par Value		Current Value
INNOLUX CORP INNOLUX CORP		714,982		47,696
JAPANESE YEN (JPY) SPOT JAPANESE YEN (JPY) SPOT		1,018		1,018
JAPANESE YEN FORWARD		16,976,348		75,721
JPN 10Y BOND(OSE) MAR18 XOSE 20180313		2,662,525		1,590
KC HRW WHEAT FUT JUL18 XCBT 20180713		25,000		250
KC HRW WHEAT FUT MAR18 XCBT 20180314		70,000		350
KC HRW WHEAT FUT MAY18 XCBT 20180514		75,000		563
KKR & CO LP KKR & CO LP		1,241,276		73,991
LIVE CATTLE FUTR AUG18 XCME 20180831		80,000		60
LIVE CATTLE FUTR JUN18 XCME 20180629		80,000		140
LLS ARGUS V WTI S AUG18 XNYM 20180831		1,000		90
LLS ARGUS V WTI S DEC18 XNYM 20181231		1,000		–
LLS ARGUS V WTI S JUL18 XNYM 20180731		1,000		80
LLS ARGUS V WTI S NOV18 XNYM 20181130		1,000		40
LLS ARGUS V WTI S OCT18 XNYM 20181031		1,000		50
LLS ARGUS V WTI S SEP18 XNYM 20180928		1,000		60
LONG GILT FUTURE MAR18 IFLL 20180327		1,350,151		1,294
LOW SU GASOIL G JUN19 IFEU 20190612		4,400		29,700
NAT GAS EURO OPT APR18C 3 EXP 03/26/2018		60,000		5,550
NAT GAS EURO OPT APR18C 3.02 EXP 03/26/2018		20,000		1,746
NAT GAS EURO OPT APR18C 3.05 EXP 03/26/2018		40,000		3,200
NATURAL GAS FUTR FEB19 XNYM 20190129		90,000		1,980
NATURAL GAS FUTR MAR18 XNYM 20180226		180,000		5,040
NATURAL GAS FUTR MAY19 XNYM 20190426		10,000		120
NATURAL GAS FUTR OCT18 XNYM 20180926		1,050,000		25,200
NATURAL GAS SWAP APR18 XNYM 20180327		80,000		2,160
NATURAL GAS SWAP AUG18 XNYM 20180727		40,000		1,000
NATURAL GAS SWAP DEC18 XNYM 20181128		40,000		1,040
NATURAL GAS SWAP FEB18 XNYM 20180129		10,000		390
NATURAL GAS SWAP JUL18 XNYM 20180627		40,000		1,080
NATURAL GAS SWAP JUN18 XNYM 20180529		40,000		1,080
NATURAL GAS SWAP MAR18 XNYM 20180226		40,000		1,120
NATURAL GAS SWAP MAY18 XNYM 20180426		40,000		1,000
NATURAL GAS SWAP NOV18 XNYM 20181029		40,000		960
NATURAL GAS SWAP OCT18 XNYM 20180926		40,000		960
NATURAL GAS SWAP SEP18 XNYM 20180829		40,000		960
NY HARB ULSD FUT MAR18 XNYM 20180228		252,000		3,301
NY HARB ULSD FUT SEP18 XNYM 20180831		252,000		2,318
PLATINUM FUTURE APR18 XNYM 20180426		500		3,400
POUND STERLING FORWARD		845,656		147
PUBLICIS GROUPE PUBLICIS GROUPE		463,137		10,161
RUSSIAN RUBLE FORWARD		547,108		8,147
SAFRAN SA SAFRAN SA		797,646		74,121
SOL FORWARD		358,988		292
SOUTH KOREAN WON FORWARD		338,336		17,336
SOYBEAN OIL FUTR DEC18 XCBT 20181214		600,000		3,120
SOYBEAN OIL FUTR MAY18 XCBT 20180514		480,000		2,544
SRA001838 IRS USD R F 1.94500 1.945% 19 Sep 2018		11,400,000		549
SUNAC CHINA HOLDINGS LTD SUNAC CHINA HOLDINGS LTD		828,953		78,688
SWEDISH KRONA FORWARD		649,431		17,842
SWPC0F6Y4 CDS EUR R F 1.00000 1% 20 Dec 2021		599,925		17,158
SWPC0FOT5 CDS EUR R V 03MEVENT 1% 20 Jun 2022		239,970		1,927
SWPC0GA19 CDS USD R F 1.00000 1% 20 Mar 2018		300,000		459
SWU00DZI2 IRS JPY R F .15000 0.15% 22 Mar 2018		4,615,043		1,555
SWU00L9Q5 IRS USD R F 2.50000 2.5% 20 Dec 2027		100,000		734
SWU00M8G6 IRS JPY R F 1.00000 1% 21 Mar 2048		88,751		616
SWU00M934 IRS KRW R V 03MKSDA 1% 10 Jul 2027		1,398,440		24,558
SWU00M9S9 IRS KRW R V 03MKSDA 1% 10 Jul 2027		1,327,449		19,135
SWU00MA99 IRS NZD R F 2.50000 2.5% 11 Jul 2019		9,354,842		28,371
SWU00MIA8 IRS EUR R F .50000 0.5% 21 Mar 2023		5,759,277		36,956
SWU00MP69 IRS GBP R F 1.00000 1% 19 Sep 2019		6,345,709		12,117
SWU00NES1 IRS BRL R F 8.35000 8.35% 02 Jan 2020		5,637,454		34,008
SWU029IK3 TRS USD R E COMMODITYFORWARD		2,400		907
SWU029IL1 TRS CHF R E		1,026		483
SWU071180 TRS USD R E		495,900		4,202
SWU071552 TRS USD R E COMMODITYSPREAD		2,400		1,114
SWU071701 TRS USD R E		85,700		82
SWU071727 TRS USD R E		489,500		3,841
SWU071974 TRS USD R E W H8 COMMODITYFORWARD		50,000		38,401
SWU073442 TRS USD R E COMMODITYSPREAD		600		5,689
SWU073830 TRS USD R E COMMODITYSPREAD		900		214
SWU073863 TRS USD R E COMMODITYSPREAD		1,200		464
SWU073970 TRS USD R E		310,100		2,454
SWU0AP399 TRS USD R E COMMODITYFORWARD		4,800		1,579
SWU0AQ819 TRS CHF R E		1,026		410
SWU0B4569 TRS USD R E GOLDLNPM COMMODITYFORWARD		200		5,371
SWU0B6572 TRS USD R E COMMODITYFORWARD		1,200		3,027
SWU0B9915 TRS USD R E COMMODITYFORWARD		2,400		3,641
SWU0C5326 TRS USD R E SLVRLND COMMODITYFORWARD		10,000		14,689
SWU0H0157 TRS USD R E COMMODITYFORWARD		6,000		11,141
SWU0H1312 TRS USD P F .17000 0.17% 15 Feb 2018		2,627,530		20,434
SWU0H9075 TRS USD P F .00000 0% 15 Feb 2018		628,307		34,349
SWU0H9190 TRS USD P F .00000 0% 15 Feb 2018		628,025		34,321
SWU0H9299 TRS USD P V 03MTBILL 1% 15 Feb 2018		7,556,935		376,868
SWU0H9455 TRS USD P V 03MTBILL 1% 15 Feb 2018		8,068,783		395,754
SWU0H9471 TRS USD P V 03MTBILL 1% 15 Feb 2018		2,330,855		933,895
SWU0H9604 TRS USD P V 03MTBILL 1% 15 Feb 2018		1,433,222		70,296
SWU0H9612 TRS USD P V 03MTBILL 1% 15 Feb 2018		16,573,521		826,530
SWU0H9679 TRS USD P V 03MTBILL 1% 15 Feb 2018		10,055,107		501,453
SWU0JSA21 TRS USD R E COMMODITYSPREAD		600		970
SWU0Y0240 TRS USD R E COMMODITYSPREAD		2,700		5,552
SWU0Y0836 TRS USD R E COMMODITYFORWARD		1,800		3,618
SWU0Y0976 TRS USD R E COMMODITYSPREAD		1,500		2,675

32

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2017

Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares / Par Value		Current Value
SWU0Y0984 TRS USD R E COMMODITYSPREAD		1,500		2,734
SWU0Y1321 TRS USD R E COMMODITYSPREAD		600		1,094
SWU0Y5272 TRS USD R E		485,700		2,428
SWU0Y5934 TRS USD R E		594,400		3,640
SWU0Y6130 TRS USD R E COMMODITYSPREAD		3,000		767
SWU0Y6148 TRS USD R E COMMODITYSPREAD		3,000		951
SWU0Y6247 TRS USD R E COMMODITYSPREAD		2,100		1,869
SWU0Y6304 TRS USD R E COMMODITYSPREAD		1,200		71
SWU0Y6411 TRS USD R E COMMODITYSPREAD		900		307
SWU0Y6718 TRS USD R E COMMODITYSPREAD		900		1,381
SWU0Y7963 TRS USD R E COMMODITYSPREAD		900		594
SWU0Y8193 TRS USD R E		113,600		248
TURKISH LIRA FORWARD		226,343		10,090
US 10YR NOTE (CBT)MAR18 XCBT 20180320		16,000,000		32,500
US 2YR NOTE (CBT) MAR18 XCBT 20180329		48,400,000		15,125
US 5YR NOTE (CBT) MAR18 XCBT 20180329		20,300,000		19,031
US ULTRA BOND CBT MAR18 XCBT 20180320		4,300,000		18,813
WHEAT FUTURE(CBT) JUL18 XCBT 20180713		25,000		250
WHEAT FUTURE(CBT) MAR18 XCBT 20180314		15,000		113
WHEAT FUTURE(CBT) MAY18 XCBT 20180514		80,000		400
WHITE SUGAR (ICE) MAR18 IFEU 20180213		1,350		1,215
WHITE SUGAR (ICE) MAY18 IFEU 20180413		50		45
WM MORRISON SUPERMARKETS WM MORRISON SUPERMARKETS		643,599		19,107
WTI CRUDE FUTURE AUG18 XNYM 20180720		8,000		3,680
WTI CRUDE FUTURE DEC18 IFEU 20181116		11,000		4,400
WTI CRUDE FUTURE DEC20 XNYM 20201120		26,000		4,680
WTI CRUDE FUTURE FEB18 XNYM 20180122		12,000		6,960
WTI CRUDE FUTURE JUL18 XNYM 20180620		10,000		4,900
WTI CRUDE FUTURE JUN18 IFEU 20180521		5,000		2,600
WTI CRUDE FUTURE JUN19 XNYM 20190521		122,000		34,160
WTI CRUDE FUTURE JUN20 XNYM 20200519		7,000		–
WTI CRUDE FUTURE MAR18 IFEU 20180216		18,000		10,260
WTI CRUDE FUTURE MAR20 XNYM 20200220		11,000		1,100
WTI CRUDE FUTURE OCT18 XNYM 20180920		12,000		5,474
WTI CRUDE FUTURE SEP18 XNYM 20180821		42,000		18,480
WTI CRUDE FUTURE SEP19 XNYM 20190820		11,000		2,420
WTI-BRENT ICE SW DEC18 XNYM 20181231		1,000		60
WTI-BRENT ICE SW NOV18 XNYM 20181130		1,000		60
WTI-BRENT ICE SW OCT18 XNYM 20181031		1,000		20
YUAN RENMINBI OFFSHORE FORWARD		959,718		16,225
SWU0397Y4 TRS USD R E		361,100		–
SWU0397Z1 TRS USD R E		240,700		–
SWU039997 TRS USD R E COMMODITYSPREAD		1,800		–
SWU074960 TRS USD R E COMMODITYSPREAD		9,600		–
SWU075157 TRS USD R E COMMODITYSPREAD		1,200		–
SWU0Y1784 TRS USD R E COMMODITYSPREAD		600		–
SWU0Y3855 TRS USD R E COMMODITYSPREAD		2,400		–
SWU0Y6122 TRS USD R E		89,800		–
SWU0Y7104 TRS USD R E COMMODITYSPREAD		9,600		–
SWU0Y7393 TRS USD R E COMMODITYSPREAD		1,500		–
SWU0Y7799 TRS USD R E COMMODITYFORWARD		37,600		–
SWU0Y7831 TRS USD R E COMMODITYFORWARD		39,900		–
Total Derivatives			$	6,574,117
Total Investment Assets, at Fair Value			$	7,438,897,611
Separately Managed Accounts
Derivatives Liabilities
31750C5O4 OTC EPUT USD VS KRW APR18 1075 PUT		741,000	$	(18,829	)
31750C5P1 OTC EPUT USD VS KRW APR18 1075 PUT		213,000		(5,412	)
31750CMB3 OTC EPUT GBP VS USD 1.295		968,058		(4,232	)
317575850 OTC EPUT FN 3.5 2 48 FEB18 102.125 PUT		1,100,000		(1,886	)
3175A5286 OTC EPUT FN 3.5 2 48 FEB18 102.078125 PUT		1,100,000		(1,754	)
3175A6D33 OTC ECAL FN 3.5 2 48 FEB18 103.078125 CALL		1,100,000		(1,320	)
3175ANM10 OTC ECAL FN 3.5 2 48 FEB18 103.125 CALL		1,100,000		(1,188	)
3175C5268 OTC ECAL WTI BRENT B OCT18 0.00001 CALL		6,000		(240	)
8AH8C J8 NYM ECAL NAT GAS CSO FEB18 0.75 CALL		280,000		(15,120	)
90DAY EUR FUTR SEP19 XCME 20190916		20,250,000		(3,038	)
90DAY STERLING FU DEC19 IFLL 20191218		17,551,961		(3,637	)
AEON CO LTD AEON CO LTD		1,346,066		(125,589	)
AMBEV SA AMBEV SA		242,782		(1,828	)
AMERICA MOVIL SAB DE C-SER L AMERICA MOVIL SAB DE C-SER L		132,139		(8,905	)
ANDV US 01/18 C115.00 ANDV US 01/18 C115.00		140,836		(4,485	)
ARGENTINE PESO FORWARD		270,472		(7,730	)
AU OPTRONICS CORP AU OPTRONICS CORP		873,901		(30,493	)
AUSTRALIAN DOLLAR FORWARD		1,111,478		(31,537	)
BRAZILIAN REAL FORWARD		1,054,178		(20,649	)
BRENT CRUDE FUTR AUG18 IFEU 20180629		16,000		(8,160	)
BRENT CRUDE FUTR DEC19 IFEU 20191031		72,000		(1,440	)
BRENT CRUDE FUTR DEC20 IFEU 20201030		17,000		(6,460	)
BRENT CRUDE FUTR JUL18 IFEU 20180531		36,000		(19,800	)
BRENT CRUDE FUTR JUN18 IFEU 20180430		11,000		(6,490	)
BRENT CRUDE FUTR JUN19 IFEU 20190430		6,000		(1,080	)
BRENT CRUDE FUTR MAR18 IFEU 20180131		13,000		(9,230	)
BRENT CRUDE FUTR MAR19 IFEU 20190131		17,000		(4,930	)
BRENT CRUDE FUTR SEP18 IFEU 20180731		54,000		(25,920	)
BRENT CRUDE FUTR OPTN DEC18 46 PUT FSO		200,000		(140	)
BRENT-DUBAI ICE DEC17 XNYM 20171229		1,000		(5	)
BRENT-DUBAI ICE JUL18 XNYM 20180731		13,000		(13	)

33

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2017

Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares / Par Value		Current Value
BWPC0DSY5 CDS EUR R V 03MEVENT 1% 20 Dec 2021		14,398,192		(395,558	)
BWPC0E4Q6 CDS USD R V 03MEVENT 1% 20 Dec 2020		200,000		(5,271	)
BWPC0E528 CDS USD R V 03MEVENT 1% 20 Dec 2020		300,000		(7,587	)
BWPC0E6G6 CDS USD R V 03MEVENT 1% 20 Dec 2020		300,000		(7,694	)
BWPC0E7U4 CDS USD R V 03MEVENT 1% 20 Dec 2020		300,000		(7,946	)
BWPC0EFA9 CDS EUR R V 03MEVENT 1% 20 Dec 2020		119,985		(3,170	)
BWPC0EHK5 CDS EUR R V 03MEVENT 1% 20 Dec 2020		119,985		(2,484	)
BWPC0FA52 CDS USD R V 03MEVENT 1% 20 Jun 2022		4,478,000		(99,835	)
BWPC0GA92 CDS USD R V 03MEVENT 1% 20 Dec 2022		1,200,000		(99,060	)
BWU00AH98 IRS JPY R V 06MLIBOR 1% 17 Sep 2021		2,218,771		(34,687	)
BWU00KWQ1 IRS GBP R V 06MLIBOR 1% 21 Mar 2048		742,583		(59,008	)
BWU00L8Q6 IRS USD R V 03MLIBOR 1% 12 Nov 2049		700,000		(50,427	)
BWU00L9U6 IRS USD R V 03MLIBOR 1% 20 Dec 2047		4,500,000		(178,639	)
BWU00LAD2 IRS GBP R V 06MLIBOR 1% 20 Sep 2019		20,589,800		(71,788	)
BWU00MI91 IRS EUR R V 06MEURIB 1% 21 Mar 2020		719,910		(1,433	)
BWU00MIB6 IRS EUR R V 06MEURIB 1% 21 Mar 2028		239,970		(1,665	)
BWU00MIE0 IRS GBP R V 06MLIBOR 1% 21 Mar 2028		4,590,513		(87,557	)
BWU00MIX8 IRS GBP R V 06MLIBOR 1% 21 Mar 2028		135,015		(2,575	)
BWU00MP51 IRS GBP R V 03MLIBOR 1% 18 Sep 2020		6,345,709		(417	)
BWU00MX86 IRS EUR R V 06MEURIB 1% 20 Jun 2028		479,940		(788	)
BYH8C H8 NYM ECAL WTI BRENT SP JAN18 3.5 CALL		4,000		(40	)
BYH8C H8 NYM ECAL WTI BRENT SP JAN18 4 CALL		1,000		(20	)
BYH8P H8 NYM EPUT WTI BRENT SP JAN18 6.5 PUT		4,000		(1,240	)
BYH8P H8 NYM EPUT WTI BRENT SP JAN18 7 PUT		1,000		(180	)
BYM8P M8 NYM EPUT WTI BRENT SP APR18 3 PUT		2,000		(5,540	)
CANADIAN DOLLAR FORWARD		2,356,374		(47,400	)
CANON INC CANON INC		1,536,509		(205,359	)
CASIO COMPUTER CO LTD CASIO COMPUTER CO LTD		933,402		(51,167	)
CCS092214 CYS AUD R V 03MBBSW 1% 26 Sep 2027		396,350		(5,278	)
CCS092719 CYS AUD R V 03MBBSW 1% 05 Oct 2027		236,310		(1,618	)
CELLTRION INC CELLTRION INC		807,733		(141,934	)
CHINA STEEL CORP CHINA STEEL CORP		428,626		(77,492	)
CORN FUTURE DEC18 XCBT 20181214		220,000		(3,300	)
CRUDE OIL FUT OPT FEB18C 60 EXP 01/17/2018		24,000		(28,080	)
CRUDE OIL FUT OPT NOV18P 45 EXP 10/17/2018		2,000		(1,420	)
CZECH KORUNA FORWARD		513,616		(34,542	)
DANISH KRONE FORWARD		15,451,352		(549,345	)
EURO BUXL 30Y BND MAR18 XEUR 20180308		719,910		(4,676	)
EURO CURRENCY FORWARD		19,930,980		(310,134	)
EURO-BTP FUTURE MAR18 XEUR 20180308		1,559,804		(12,331	)
EURO-BUND FUTURE MAR18 XEUR 20180308		839,895		(979	)
EURO-OAT FUTURE MAR18 XEUR 20180308		239,970		(813	)
GASOLINE RBOB FUT MAR18 XNYM 20180228		798,000		(2,234	)
GOLD 100 OZ FUTR FEB18 XCEC 20180226		500		(6,050	)
HENRY HB LD1 JUN18 IFED 20180529		30,000		(1,830	)
HENRY HB LD1 MAR18 IFED 20180226		30,000		(5,370	)
HENRY HB LD1 NOV18 IFED 20181029		30,000		(1,470	)
HENRY HB LD1 SEP18 IFED 20180829		30,000		(1,650	)
IMM EUR FUT OPT MAR18C 98.75 EXP 03/19/2018		132,500		(331	)
IMPAX LABORATORIES INC IMPAX LABORATORIES INC		234,216		(25,745	)
INDONESIAN RUPIAH FORWARD		238,096		(1,968	)
JAPANESE YEN FORWARD		491,029		(1,408	)
LME COPPER FUTURE MAR18 XLME 20180319		250		(11,000	)
LOW SU GASOIL G DEC18 IFEU 20181212		8,800		(50,600	)
LOW SU GASOIL G JUN18 IFEU 20180612		4,400		(9,900	)
MEXICAN PESO (MXN) SPOT MEXICAN PESO (MXN) SPOT		318		(318	)
MEXICAN PESO (NEW) FORWARD		1,092,677		(45,077	)
NAT GAS EURO OPT FEB18P 2.5 EXP 01/26/2018		20,000		(326	)
NAT GAS EURO OPT MAY18P 2.4 EXP 04/25/2018		70,000		(4,011	)
NAT GAS EURO OPT MAY18P 2.45 EXP 04/25/2018		150,000		(10,515	)
NAT GAS EURO OPT MAY18P 2.5 EXP 04/25/2018		90,000		(7,632	)
NATURAL GAS FUTR APR18 XNYM 20180327		330,000		(8,910	)
NATURAL GAS FUTR APR19 XNYM 20190327		10,000		(140	)
NATURAL GAS FUTR FEB18 XNYM 20180129		260,000		(10,140	)
NATURAL GAS FUTR JAN19 XNYM 20181227		90,000		(2,160	)
NATURAL GAS FUTR MAY18 XNYM 20180426		570,000		(14,250	)
NEW ISRAELI SHEQEL FORWARD		482,223		(9,082	)
NIPPON PAPER INDUSTRIES CO L NIPPON PAPER INDUSTRIES CO L		696,963		(7,054	)
NY HARB ULSD FUT JUN18 XNYM 20180531		504,000		(5,242	)
POUND STERLING FORWARD		6,873,493		(111,617	)
PUBLICIS GROUPE PUBLICIS GROUPE		809,979		(7,269	)
SAINSBURY (J) PLC SAINSBURY (J) PLC		1,329,838		(14,032	)
SHIRE PLC SHIRE PLC		2,443,784		(278,520	)
SHPG US 01/18 C165.00 SHPG US 01/18 C165.00		56,048		(1,900	)
SINGAPORE DOLLAR FORWARD		961,532		(17,831	)
SOL FORWARD		105,726		(1,726	)
SOUTH KOREAN WON FORWARD		577,627		(27,789	)
SOYBEAN FUTURE NOV18 XCBT 20181114		50,000		(1,500	)
SOYBEAN MEAL FUTR MAR18 XCBT 20180314		600		(420	)
SOYBEAN OIL FUTR MAR18 XCBT 20180314		480,000		(2,640	)
SUGAR 11 (WORLD) MAR18 IFUS 20180228		3,136,000		(5,018	)
SWEDISH KRONA FORWARD		4,263,158		(43,358	)
SWPC0BNS7 CDS USD R F 1.00000 1% 20 Dec 2021		200,000		(1,837	)
SWPC0EQD1 CDS USD R F 1.00000 1% 20 Dec 2021		100,000		(918	)
SWPC0FCV3 CDS EUR R V 03MEVENT 1% 20 Jun 2022		239,970		(4,760	)
SWPC0FD34 CDS EUR R V 03MEVENT 1% 20 Jun 2022		479,940		(4,260	)
SWPC0FRO3 CDS EUR R F 1.00000 1% 20 Jun 2024		119,985		(4,476	)
SWPC0FSH7 CDS USD R V 03MEVENT 1% 20 Jun 2022		400,000		(13,195	)
SWPC0FSK0 CDS USD R V 03MEVENT 1% 21 Jun 2022		400,000		(13,195	)
SWPC0FSL8 CDS USD R V 03MEVENT 1% 20 Jun 2022		500,000		(16,494	)
SWPC786C1 CDS USD R V 03MEVENT 1% 20 Mar 2018		254,000		(270	)
SWU00KLL4 IRS USD R F 1.50000 1.5% 21 Jun 2027		1,000,000		(77,655	)
SWU00M7P7 IRS CAD R F 1.40000 1.4% 13 Sep 2019		8,114,558		(81,249	)

34

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2017

Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares / Par Value			Current Value
SWU00MID2 IRS GBP R F 1.00000 1% 21 Mar 2023		1,890,211			(6,292	)
SWU00MZ19 IRS USD R F 1.75000 1.75% 01 Apr 2019		54,800,000			(101,320	)
SWU029IM9 TRS CHF R E		1,026			(1,174	)
SWU0397X6 TRS USD R E COMMODITYFORWARD		300			(17,387	)
SWU0398Z0 TRS USD R F .00000 0% 15 Feb 2018		417,518			(26,139	)
SWU071172 TRS USD R E		332,700			(3,011	)
SWU071651 TRS USD R E COMMODITYFORWARD		10,500			(10,073	)
SWU071719 TRS USD R E		75,000			(45	)
SWU071735 TRS USD R E COMMODITYFORWARD		1,200			(792	)
SWU071743 TRS USD R E COMMODITYFORWARD		1,200			(792	)
SWU071826 TRS USD R E		104,400			(166	)
SWU072212 TRS USD R V 03MTBILL 1% 15 Feb 2018		8,159,362			(403,931	)
SWU073988 TRS USD R E		186,000			(3,089	)
SWU074143 TRS USD R E		994,000			(6,898	)
SWU074291 TRS USD R E		147,100			(1,314	)
SWU074309 TRS USD R E		148,800			(1,302	)
SWU074390 TRS USD R E		367,200			(3,449	)
SWU074473 TRS USD R E		365,600			(3,380	)
SWU074572 TRS USD R E COMMODITYSPREAD		4,400			(20,389	)
SWU074598 TRS USD R E		172,000			(1,490	)
SWU074606 TRS USD R E COMMODITYSPREAD		15,400			(70,605	)
SWU074671 TRS USD R E		98,000			(804	)
SWU074762 TRS USD R E		88,200			(686	)
SWU074770 TRS USD R E		65,400			(537	)
SWU074812 TRS USD R E COMMODITYSPREAD		900			(388	)
SWU074820 TRS USD R E		85,700			(448	)
SWU0A0550 TRS USD R E GOLDLNPM COMMODITYFORWARD		400			(29,734	)
SWU0A7126 TRS USD R E		97,900			(117	)
SWU0AQ793 TRS CHF R E		1,026			(1,164	)
SWU0B6085 TRS USD R E COMMODITYSPREAD		300			(164	)
SWU0B6143 TRS USD R E GOLDLNPM COMMODITYFORWARD		300			(18,998	)
SWU0B7281 TRS USD R E GOLDLNPM COMMODITYFORWARD		400			(16,366	)
SWU0B8909 IRS USD R V 03MLIBOR 1% 19 Jun 2022		6,000,000			(2,668	)
SWU0B9485 TRS USD P F .17000 0.17% 15 Feb 2018		2,577,575			(16,015	)
SWU0C6217 TRS USD R E COMMODITYFORWARD		1,200			(2,429	)
SWU0H9067 TRS USD P F .95000 0.95% 15 Feb 2018		777,887			(761	)
SWU0H9398 TRS USD R F .00000 0% 15 Feb 2018		285,477			(17,875	)
SWU0H9463 TRS USD P F .15000 0.15% 15 Feb 2018		3,217,025			(9,558	)
SWU0H9505 TRS USD P F .30000 0.3% 15 Feb 2018		2,320,924			(214,937	)
SWU0H9513 TRS USD P F .35000 0.35% 15 Feb 2018		2,600,792			(172,394	)
SWU0N4665 TRS USD R E SLVRLND COMMODITYFORWARD		20,000			(13,423	)
SWU0Y2790 TRS USD R E		323,900			(3,268	)
SWU0Y3400 TRS USD R V 03MTBILL 1% 15 Feb 2018		1,388,935			(68,760	)
SWU0Y5280 TRS USD R E		320,800			(2,067	)
SWU0Y6080 TRS USD R E		119,800			(978	)
SWU0Y6155 TRS USD R E		65,000			(565	)
SWU0Y6239 TRS USD R E COMMODITYSPREAD		2,100			(4,067	)
SWU0Y6403 TRS USD R E COMMODITYSPREAD		900			(75	)
SWU0Y6635 TRS USD R E		98,700			(767	)
SWU0Y6643 TRS USD R E		98,700			(767	)
SWU0Y6650 TRS USD R E		88,200			(695	)
SWU0Y7245 TRS USD R E COMMODITYSPREAD		600			(255	)
SWU0Y7476 TRS USD R E		175,800			(591	)
U.S. DOLLAR SPOT FORWARD U.S. DOLLAR SPOT FORWARD		23,720			(23,720	)
US 10YR NOTE (CBT)MAR18 XCBT 20180320		2,300,000			(4,672	)
US 10YR ULTRA FUT MAR18 XCBT 20180320		500,000			(1,406	)
US 5YR NOTE (CBT) MAR18 XCBT 20180329		10,500,000			(9,844	)
US LONG BOND(CBT) MAR18 XCBT 20180320		2,500,000			(7,031	)
US ULTRA BOND CBT MAR18 XCBT 20180320		600,000			(2,625	)
WM MORRISON SUPERMARKETS WM MORRISON SUPERMARKETS		640,586			(59,134	)
WTI CRUDE FUTURE APR18 XNYM 20180320		4,000			(2,240	)
WTI CRUDE FUTURE DEC18 XNYM 20181119		28,000			(11,200	)
WTI CRUDE FUTURE DEC19 XNYM 20191120		53,000			(9,010	)
WTI CRUDE FUTURE FEB19 XNYM 20190122		6,000			(2,100	)
WTI CRUDE FUTURE JAN19 XNYM 20181219		8,000			(3,120	)
WTI CRUDE FUTURE JUN18 XNYM 20180522		30,000			(15,600	)
WTI CRUDE FUTURE MAR18 XNYM 20180220		49,000			(27,930	)
WTI CRUDE FUTURE MAY18 XNYM 20180420		8,000			(4,320	)
WTI CRUDE FUTURE NOV18 XNYM 20181022		5,000			(2,050	)
WTI-BRENT ICE SW AUG18 XNYM 20180831		1,000			(10	)
WTI-BRENT ICE SW JUL18 XNYM 20180731		1,000			(30	)
WTI-BRENT ICE SW SEP18 XNYM 20180928		1,000			(10	)
Total Derivative Liabilities				$	(5,419,770	)
Common Stock Liabilities
ADVANCED MICRO DEVICES		(59,310	)	$	(609,707	)
AMC NETWORKS INC-A		(15,613	)		(844,351	)
APPLE INC		(10,310	)		(1,744,761	)
AU OPTRONICS CORP-SPON ADR		(78,433	)		(326,281	)
BIG LOTS INC		(13,560	)		(761,394	)
BLACKBERRY LTD		(38,079	)		(425,342	)
C.H. ROBINSON WORLDWIDE INC		(6,765	)		(602,694	)
CORE LABORATORIES N.V.		(11,655	)		(1,276,805	)
CRACKER BARREL OLD COUNTRY		(3,670	)		(583,126	)
DISH NETWORK CORP-A		(18,720	)		(893,880	)
FS INVESTMENT CORP		(43,130	)		(317,006	)
GARMIN LTD		(12,250	)		(729,733	)
GENERAL MILLS INC		(10,160	)		(602,386	)
GOPRO INC-CLASS A		(162,177	)		(1,227,680	)
HANESBRANDS INC		(71,780	)		(1,500,920	)
HENNES & MAURITZ AB-B SHS		(30,660	)		(634,309	)

35

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2017

Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares / Par Value			Current Value
IROBOT CORP		(7,065	)		(541,886	)
JABIL INC		(57,400	)		(1,506,750	)
KOHLS CORP		(6,750	)		(366,053	)
KONINKLIJKE AHOLD DELHAIZE N		(56,290	)		(1,239,009	)
MARINE HARVEST		(54,061	)		(915,931	)
MEREDITH CORP		(15,421	)		(1,018,557	)
MYRIAD GENETICS INC		(70,253	)		(2,412,839	)
NATIONAL OILWELL VARCO INC		(6,286	)		(226,422	)
NVIDIA CORP		(3,140	)		(607,590	)
PANDORA A/S		(5,830	)		(634,482	)
PROOFPOINT INC		(6,540	)		(580,817	)
QORVO INC		(17,990	)		(1,198,134	)
ROGERS COMMUNICATIONS INC-B		(8,710	)		(443,780	)
SANDERSON FARMS INC		(6,740	)		(935,377	)
SIRIUS XM HOLDINGS INC		(195,131	)		(1,045,902	)
SKYWORKS SOLUTIONS INC		(20,690	)		(1,964,516	)
SPRINT CORP		(158,861	)		(935,691	)
STARBUCKS CORP		(10,680	)		(613,352	)
SWISSCOM AG-REG		(3,950	)		(2,102,099	)
TARGET CORP		(10,230	)		(667,508	)
VERIFONE SYSTEMS INC		(16,430	)		(290,975	)
WADDELL & REED FINANCIAL-A		(24,783	)		(553,652	)
Total Common Stock Liabilities				$	(33,881,697	)
Real Estate Investment Trusts Liabilities
AVALONBAY COMMUNITIES INC		(7,820	)	$	(1,395,166	)
CYRUSONE INC		(22,280	)		(1,326,328	)
Total Real Estate Investment Trusts Liabilities				$	(2,721,494	)
Total Investment Liabilities, at Fair Value				$	(42,022,961	)
Total Investments, at Fair Value				$	7,396,874,650
* Notes Receivable from Participants with interest rates ranging from 4.25% to 7% with maturities up to 10 years				$	26,797,995
Total Assets Held at End of Year				$	7,423,672,645

* Denotes party-in-interest

36

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Acquired and Disposed of Within Year)

December 31, 2017

Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares / Par Value		Proceeds of Dispositions
Common Stock
ATC.NA		35,212	$	839,934
LOGN.SW		42,761		(1,537,442	)
PROX.BB		10,458		(365,685	)
VIFN.VX		10,190		(1,144,599	)
KINDER MORGAN CANADA LTD		7,200		88,092
HANG LUNG PROPERTIES LTD		131,000		293,058
FORTESCUE METALS GROUP LTD		104,919		450,650
RAKUTEN INC		28,100		286,660
OPTEX GROUP CO LTD		10,090		434,609
IOOF HOLDINGS LTD		22,870		195,008
ZODIAC AEROSPACE		7,752		205,340
ANGLO AMERICAN		182,986		13,658
IBERDROLA SA		609,933		147,708
DAVIDE CAMPARI MILANO SPA		22,406		269,374
POLA ORBIS HOLDINGS INC		22,600		729,142
JUST GROUP PLC		106,717		165,422
KONINKLIJKE AHOLD DELHAIZE N		23,684		437,296
BBVA		511,100		70,786
ASR NEDERLAND NV		25,384		753,317
TULLOW OIL PLC		99,710		117,833
ITAUSA INVESTIMEN P RCT		3,754		7,344
ROBINSON PCL FOREIGN		114,400		214,461
TRANSURBAN GROUP		4,886		42,611
IBERDROLA SA INTERIM		6,160		39,201
REPSOL SA INTERIM		2,018		26,741
AFRICAN PHOENIX INV LTD		302,044		9,528
PPLA PARTICIPATIONS LTD		63,714		33,532
Total Common Stock			$	2,823,579
Preferred Stock
NATIONWIDE BLDG SOCIETY		52,000	$	107,969
Total Preferred Stock			$	107,969
Derivatives
7974.JPSWAP		1,614	$	(53,805	)
AIR.FPSWAP		27,070		78,858
AMAFP WRNT 4 FASHION HOLDING LUXEMBOURG CLASS 4 WARRANTS		828,342		–
AMAFP WRNT 5 FASHION HOLDING LUXEMBOURG CLASS 5 WARRANTS		1,287,042		–
BVMF3.BZSWAP		66,033		80,745
GRF.SMSWAP		40,831		38,893
GRFSSWAP		11,080		(8,901	)
31750C1X8 OTC ECAL CAD VS JPY 90.0 AUG17 90 CALL		771,989		(6,736	)
31750C1Y6 OTC ECAL USD VS JPY 118.28 AUG17 118.28 CALL		774,000		(5,081	)
31750C530 OTC EPUT EUR VS USD 1.045 MAY17 1.045 PUT		531,588		(3,647	)
31750C548 OTC EPUT EUR VS USD 1.025 MAY17 1.025 PUT		531,588		(2,035	)
31750C555 OTC ECAL EUR VS USD 1.108 MAY17 1.108 CALL		531,588		(1,752	)
31750CAQ3 OTC EPUT EUR VS TRY SEP17 4.071 PUT SEP17 4.071 PUT		453,960		(10,018	)
31750CAR1 OTC EPUT EUR VS TRY SEP17 3.95 PUT SEP17 3.95 PUT		453,960		(3,721	)
31750CAS9 OTC ECAL EUR VS TRY SEP17 4.171 CALL SEP17 4.171 CALL		453,960		(6,297	)
31750CCB4 OTC EPUT EUR VS USD SEP17 1.1445 PUT SEP17 1.1445 PUT		312,729		(1,470	)
31750CCC2 OTC ECAL EUR VS USD SEP17 1.1955 CALL SEP17 1.1955 CALL		312,729		(1,470	)
31750CH37 OTC ECAL AUD VS CAD 1.013 DEC17 1.013 CALL		320,880		(1,255	)
31750CH45 OTC EPUT AUD VS CAD 0.959 DEC17 .959 PUT		320,880		(1,743	)
31750CHB9 OTC ECAL AUD VS CAD 1.005 DEC17 1.005 CALL		317,100		(513	)
31750CHC7 OTC EPUT AUD VS CAD 0.951 DEC17 .951 PUT		317,100		(1,732	)
31750CMM9 OTC ECAL EUR VS USD 1.293 NOV18 1.293 CALL		357,075		(1,365	)
31750CMN7 OTC ECAL EUR VS USD 1.293 NOV18 1.293 CALL		119,025		(465	)
31750CMO5 OTC EPUT EUR VS USD 1.162 NOV18 1.162 PUT		357,075		1,300
31750CMP2 OTC EPUT EUR VS USD 1.162 NOV18 1.162 PUT		119,025		425
31750CMY3 OTC ECAL USD VS JPY DEC17 112.1 CALL DEC17 112.1 CALL		473,000		(1,178	)
31750CN14 OTC EPUT USD VS JPY DEC17 112.1 PUT DEC17 112.1 PUT		473,000		(3,227	)
31750CNY2 OTC ECAL USD VS JPY DEC17 112.1 CALL DEC17 112.1 CALL		291,000		(1,675	)
31750CNZ9 OTC EPUT USD VS JPY DEC17 112.1 PUT DEC17 112.1 PUT		291,000		(383	)
317529M02 OTC ECAL SWOP CLCAL1 MAY17 55 CALL MAY17 55 CALL		4		(760	)
317529NP6 OTC EPUT SWOP CLCAL1 MAY17 50 PUT MAY17 50 PUT		4		(1,000	)
317529P33 OTC EPUT SWOP CLCAL1 MAY17 50 PUT MAY17 50 PUT		4		(880	)
317574044 OTC ECAL FN 3.5 12 4 DEC17 103.40625 CALL 171206 103.40625 CALL		500,000		(820	)
317574069 OTC EPUT FN 3.5 12 4 DEC17 102.40625 PUT 171206 102.40625 PUT		500,000		(1,016	)
317574101 OTC ECAL FN 3.5 12 4 DEC17 103.328125 CALL 171206 103.328125 CALL		800,000		(1,250	)
317574150 OTC ECAL FN 3.5 12 4 DEC17 103.2265625 CALL 171206 103.2265625 CALL		400,000		(656	)
317574200 OTC EPUT FN 3.5 12 4 DEC17 102.15625 PUT 171206 102.15625 PUT		400,000		(797	)
3175H0298 OTC ECAL SWOP CLCAL1 MAY17 55 CALL MAY17 55 CALL		4		(800	)

37

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Acquired and Disposed of Within Year)

December 31, 2017

Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares / Par Value		Proceeds of Dispositions
3175H0389 OTC ECAL NAT GAS 8CV SEP17 0.2 CALL SEP17 .2 CALL		2		(920	)
3175H0405 OTC EPUT NAT GAS 8CV SEP17 0.35 PUT SEP17 .35 PUT		2		(660	)
3175H0819 OTC ECAL SWOP CLCAL1 JUL17 53 CALL JUL17 53 CALL		5		(1,200	)
3175H0827 OTC EPUT SWOP CLCAL1 JUL17 46 PUT JUL17 46 PUT		5		(2,880	)
3175JSC37 OTC EPUT SWOP NGCAL1 JUL17 2.95 PUT 170726 2.95 PUT		12		(4,200	)
3175JSC45 OTC ECAL SWOP NGCAL1 JUL17 3.3 CALL 170726 3.3 CALL		12		(3,720	)
3175Y4697 OTC ECAL SWOP API2YC DEC17 90 CALL DEC17 90 CALL		2		(4,440	)
3175Y5785 OTC EPUT FN 3.5 12 4 DEC17 102.328125 PUT 171206 102.328125 PUT		800,000		(1,563	)
3175Y5793 OTC ECAL FN 3.5 12 4 DEC17 103.34375 CALL 171206 103.34375 CALL		600,000		(938	)
3175Y5801 OTC EPUT FN 3.5 12 4 DEC17 102.34375 PUT 171206 102.34375 PUT		600,000		(1,184	)
3175Y5819 OTC EPUT FN 3.5 12 4 DEC17 102.2265625 PUT 171206 102.2265625 PUT		400,000		(781	)
3175Y5868 OTC ECAL FN 3.5 12 4 DEC17 103.15625 CALL 171206 103.15625 CALL		400,000		(656	)
317U043N1 IRO USD 10Y P 3.0200 SEP17 3.02 PUT 170911 3.02 PUT		2,600,000		(20,215	)
317U045N9 IRO EUR 10Y P 1.1700 SEP17 1.17 PUT 170911 1.17 PUT		2,506,022		(15,626	)
317U352N6 IRO USD 10Y P 2.8500 SEP17 2.85 PUT 170911 2.85 PUT		2,600,000		(6,825	)
BWU0398Z0 TRS USD R F .00000 0% 15 Feb 2018 COMM SWAP SPGCINP -.05 FIX		712,285		(11,865	)
BWU0B3538 TRS USD R V 03MTBILL 1% 15 Aug 2017 TBILDI3M + 12		9,770,885		84,304
BWU0B3546 TRS USD R V 03MTBILL 1% 15 Aug 2017 TBILDI3M + 13		55,256,712		467,833
BWU0H9398 TRS USD R F .00000 0% 15 Feb 2018 COMM SWAP SPGCINP -.05 FIX		88,514		(1,474	)
BWU0X0183 TRS USD R F .00000 0% 15 Aug 2017 COMM SWAP SPGCINP -.05 FIX		492,566		(2,863	)
BWU0X0381 TRS USD R F .00000 0% 15 Aug 2017 COMM SWAP SPGCINP -.05 FIX		3,963,727		(23,039	)
CCS0085A7 CYS EUR R V 03MEURIB 1% 20 Dec 2027 EUR003M -41.65		111,750		(340	)
CCS0781R7 CYS USD P V 03MLIBOR 1% 15 Mar 2019 US0003M		3,621,000		56,851
CCS0845R1 CYS USD P V 03MLIBOR 1% 15 Mar 2027 US0003M		320,220		14,804
CCS0845Y6 CYS EUR R V 03MEURIB 1% 20 Dec 2027 EUR003M -36.0		335,400		(1,020	)
CCS0Y0111 CYS GBP R V 03MLIBOR 1% 15 Mar 2019 BP0003M -15.0		2,667,000		107,414
CCS2886R7 CYS JPY R V 03MLIBOR 1% 23 Jan 2019 JY0003M -77.05		450,857		9,758
CCS5478F0 CYS EUR R V 03MEURIB 1% 20 Dec 2027 EUR003M -36.0		782,600		2,397
CCS5569A1 CYS EUR R V 03MEURIB 1% 15 Mar 2027 EUR003M -42.0		782,250		–
CCS5842A0 CYS USD R V 03MLIBOR 1% 15 Mar 2027 US0003M		971,334		2,638
CCSAHP691 CYS EUR R V 03MEURIB 1% 21 Mar 2026 EUR003M -36.25		432,000		(4,580	)
CCSAN7421 CYS USD P V 03MLIBOR 1% 15 Mar 2027 US0003M		1,718,514		84,636
CCSAQ0902 CYS EUR R V 03MEURIB 1% 21 Jun 2022 EUR003M -38.0		107,330		3,900
CCSAQ1025 CYS EUR R V 03MEURIB 1% 20 Sep 2022 EUR003M -38.0		111,240		2,365
CCSCAN178 CYS CHF R V 03MLIBOR 1% 21 Jun 2019 SF0003M -0.75		3,187,092		(7,488	)
CCSCGG128 CYS EUR R V 03MEURIB 1% 21 Jun 2027 EUR003M -42.5		425,000		22,280
CCSCGG193 CYS EUR R V 03MEURIB 1% 21 Jun 2022 EUR003M -38.0		321,990		13,425
CCSCGG227 CYS EUR R V 03MEURIB 1% 20 Dec 2022 EUR003M -38.0		335,700		3,075
CCSOY0358 CYS GBP R V 03MLIBOR 1% 15 Mar 2019 BP0003M -15.0		106,740		4,445
CCSOY0358 CYS GBP R V 03MLIBOR 1% 15 Mar 2019 BP0003M -15.0		2,667,000		107,205
CSAN0020S CYS JPY R V 03MLIBOR 1% 23 Jan 2019 JY0003 -77.05 BPS		435,996		–
GOLD 100 OZ FUTR APR17		13		–
SWPC0EUM6 CDS EUR R V 03MEVENT 1% 20 Dec 2021 FLO CORPORATE		336,060		(14,409	)
SWPC0EUN4 CDS EUR R V 03MEVENT 1% 20 Dec 2021 FLO CORPORATE		217,690		(3,383	)
SWPC0EUY0 CDS EUR R V 03MEVENT 1% 20 Dec 2021 FLO CORPORATE		557,875		(19,777	)
SWU029I31 TRS USD R E 0 0		98,100		(425	)
SWU029I49 TRS USD R E 0 0		96,500		1,537
SWU029I80 TRS USD R E 0 0		28,500		337
SWU029I98 TRS USD R E 0 0		29,000		(83	)
SWU029ID9 TRS USD R E 0 0		151,400		4,684
SWU029IE7 TRS USD R E 0 0		153,600		(3,567	)
SWU029IV9 TRS USD R E COMMODITYFORWARD COMMODITYFORWARD		73,100		10,528
SWU029IW7 TRS USD R E COMMODITYSPREAD COMMODITYSPREAD		1,200		(2,938	)
SWU029IX5 TRS USD R E COMMODITYSPREAD COMMODITYSPREAD		1,200		1,136
SWU029X34 TRS USD R E LCV7 COMMODITYFORWARD LCV7 COMMODITYFORWARD		175,500		(6,099	)
SWU029X42 TRS USD R E LCQ7 COMMODITYFORWARD LCQ7 COMMODITYFORWARD		175,500		11,755
SWU0397W8 TRS USD R E COMMODITYFORWARD COMMODITYFORWARD		123,000		57,918
SWU071198 TRS USD R E W Z7 COMMODITYFORWARD W Z7 COMMODITYFORWARD		55,000		27,255
SWU071768 TRS USD R E COMMODITYFORWARD COMMODITYFORWARD		1,200		3,213
SWU071834 TRS USD R E 0 0		390,600		(1,894	)
SWU072956 TRS USD R E 0 0		547,009		5,663
SWU073434 TRS USD R E COMMODITYSPREAD COMMODITYSPREAD		3,000		27,464
SWU0A0436 TRS USD P E COMMODITYFORWARD COMMODITYFORWARD		25		1,341
SWU0A0444 TRS USD R E COMMODITYFORWARD COMMODITYFORWARD		3,300		(2,505	)
SWU0A0451 TRS USD R E SLVRLND COMMODITYFORWARD SLVRLND COMMODITYFORWARD		10,000		16,020
SWU0A0469 TRS USD R E SLVRLND COMMODITYFORWARD SLVRLND COMMODITYFORWARD		15,000		18,184
SWU0A0519 TRS USD R E COMMODITYSPREAD COMMODITYSPREAD		699		(1,530	)
SWU0A0535 TRS USD R E SLVRLND COMMODITYFORWARD SLVRLND COMMODITYFORWARD		10,000		11,320
SWU0A0K04 TRS USD R E COMMODITYSPREAD COMMODITYSPREAD		4,200		1,001
SWU0A0K12 TRS USD R E COMMODITYSPREAD COMMODITYSPREAD		3,300		(689	)
SWU0A1780 TRS USD R E COMMODITYFORWARD COMMODITYFORWARD		999		1,399
SWU0A7118 TRS USD R E 0 0		385,800		(2,011	)
SWU0A8850 TRS USD R E LHV7 COMMODITYFORWARD LHV7 COMMODITYFORWARD		566,700		10,065
SWU0A8868 TRS USD R E LCV7 COMMODITYFORWARD LCV7 COMMODITYFORWARD		302,100		10,201
SWU0AP563 TRS USD R E COMMODITYFORWARD COMMODITYFORWARD		1,200		1,574
SWU0B5616 TRS USD R E JMABDEW2 JMABDEW2		1,803,769		4,052
SWU0B6010 TRS USD R E COMMODITYFORWARD COMMODITYFORWARD		1,200		(1,430	)
SWU0B6044 TRS USD P E COMMODITYSPREAD COMMODITYSPREAD		600		(1,541	)
SWU0B6077 TRS USD R E COMMODITYSPREAD COMMODITYSPREAD		3,900		(8,729	)

38

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Acquired and Disposed of Within Year)

December 31, 2017

Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares / Par Value		Proceeds of Dispositions
SWU0B6093 TRS USD R E COMMODITYFORWARD COMMODITYFORWARD		3,600		(9,853	)
SWU0B6127 TRS USD R E MQCP563E MQCP563E		5,454,097		(12,561	)
SWU0B6580 TRS USD R E COMMODITYFORWARD COMMODITYFORWARD		1,200		24,324
SWU0B6622 TRS USD R E LXZ8 COMMODITYFORWARD LXZ8 COMMODITYFORWARD		25		589
SWU0B8206 TRS USD R E KWZ7 COMMODITYFORWARD KWZ7 COMMODITYFORWARD		78,700		(28,702	)
SWU0B8214 TRS USD R E KWN7 COMMODITYFORWARD KWN7 COMMODITYFORWARD		78,700		26,488
SWU0B8354 TRS USD R E CVICXMB2 CVICXMB2		5,113,897		2,745
SWU0B8388 TRS USD R E COMMODITYSPREAD COMMODITYSPREAD		1,200		1,040
SWU0BA045 TRS USD R E GOLDLNPM COMMODITYFORWARD GOLDLNPM COMMODITYFORWARD		400		(20,631	)
SWU0C3867 TRS USD R E COMMODITYSPREAD COMMODITYSPREAD		600		(287	)
SWU0C5359 TRS USD R E COMMODITYSPREAD COMMODITYSPREAD		4,791		(11,289	)
SWU0C5367 TRS USD R E SLVRLND COMMODITYFORWARD SLVRLND COMMODITYFORWARD		10,000		12,705
SWU0C5466 TRS USD R E COMMODITYFORWARD COMMODITYFORWARD		300		4
SWU0C6159 TRS USD R E COMMODITYSPREAD COMMODITYSPREAD		600		677
SWU0C6233 TRS USD R E COMMODITYFORWARD COMMODITYFORWARD		1,200		9,853
SWU0C8734 TRS USD R E COMMODITYSPREAD COMMODITYSPREAD		1,500		1,703
SWU0C8759 TRS USD R E COMMODITYSPREAD COMMODITYSPREAD		1,500		12,950
SWU0C8924 TRS USD R E CVICXMB3 CVICXMB3		5,288,092		4,154
SWU0C9898 TRS USD R E COMMODITYSPREAD COMMODITYSPREAD		1,200		(2,963	)
SWU0H0165 TRS USD R E COMMODITYSPREAD COMMODITYSPREAD		900		3,077
SWU0H1866 TRS USD R E COMMODITYFORWARD COMMODITYFORWARD		39,900		(1,351	)
SWU0JSP33 TRS USD R E COMMODITYFORWARD COMMODITYFORWARD		1,800		6,498
SWU0X0068 TRS USD R E COMM SWAP TBL-SPGCESTR COMM SWAP TBL-SPGCESTR		43,082,056		(720,061	)
SWU0X0241 TRS USD R E COMM SWAP TBL-BCOMF1T COMM SWAP TBL-BCOMF1T		48,034,310		(564,054	)
SWU0X0258 TRS USD R E JMABCTN JMABCTN		19,186,486		6,297
SWU0X0266 TRS USD R E COMM SWAP TBL-SPGCESTR COMM SWAP TBL-SPGCESTR		35,390,290		(608,675	)
SWU0X0308 TRS USD R E JMABDEW2 JMABDEW2		11,662,525		(107,119	)
SWU0X0316 TRS USD R E JMABFNJ1 JMABFNJ1		16,263,179		(51,598	)
SWU0X0415 TRS USD R E COMM SWAP TBL- BCOMF1T COMM SWAP TBL- BCOMF1T		8,532,122		(100,190	)
SWU0X0423 TRS USD R E COMM SWAP TBL-SPGCESTR COMM SWAP TBL-SPGCESTR		93,950,316		(1,503,928	)
SWU0X0480 TRS USD R E COMM SWAP TBL-SPGCESTR COMM SWAP TBL-SPGCESTR		70,393,235		(1,169,569	)
SWU0X0530 TRS USD R E CVICXMB3 CVICXMB3		5,279,402		9,072
SWU0X0548 TRS USD R E CVICXMB2 CVICXMB2		5,113,102		2,529
SWU0Y0232 TRS USD R E COMMODITYFORWARD COMMODITYFORWARD		1,200		1,285
SWU0Y0596 TRS USD R E COMMODITYFORWARD COMMODITYFORWARD		900		760
SWU0Y0604 TRS USD R E COMMODITYFORWARD COMMODITYFORWARD		900		(1,885	)
SWU0Y3178 TRS USD R E COMMODITYFORWARD COMMODITYFORWARD		39,900		(532	)
Total Derivatives			$	(3,690,235	)
Fixed Income Securities
CELSA AMORT IV, Bank Debt		49	$	21
CELSA AMORT V, Bank Debt		6		2
FRBOSA SS 10 18 BONHOM SAS 10 06/30/2018, Bond		37		40
VIVARTE NEW BOND, Bond		13,227		10,377
FNMA TBA 30 YR 33% 13 Mar 2048SINGLE FAMILY MORTGAGE		5,400,000		5,343,205
FNMA TBA 30 YR 33% 12 Apr 2048SINGLE FAMILY MORTGAGE		5,000,000		4,946,660
FNMA TBA 30 YR 33% 14 May 2048SINGLE FAMILY MORTGAGE		3,400,000		3,398,041
FNMA TBA 30 YR 33% 13 Jun 2048SINGLE FAMILY MORTGAGE		3,400,000		3,395,916
FNMA TBA 30 YR 33% 12 Jul 2048SINGLE FAMILY MORTGAGE		1,700,000		1,710,160
FNMA TBA 30 YR 33% 13 Aug 2048SINGLE FAMILY MORTGAGE		1,700,000		1,705,445
FNMA TBA 30 YR 33% 13 Sep 2048SINGLE FAMILY MORTGAGE		3,400,000		3,415,539
FNMA TBA 30 YR 33% 11 Oct 2048SINGLE FAMILY MORTGAGE		3,400,000		3,413,547
FNMA TBA 30 YR 33% 13 Nov 2047SINGLE FAMILY MORTGAGE		3,400,000		3,404,914
FNMA TBA 30 YR 33% 13 Dec 2047SINGLE FAMILY MORTGAGE		6,000,000		6,003,813
FNMA TBA 30 YR 3.53.5% 18 Jan 2048SINGLE FAMILY MORTGAGE		3,100,000		3,176,070
FNMA TBA 30 YR 3.53.5% 12 Apr 2048SINGLE FAMILY MORTGAGE		15,500,000		15,765,523
FNMA TBA 30 YR 3.53.5% 14 May 2048SINGLE FAMILY MORTGAGE		16,400,000		16,797,438
FNMA TBA 30 YR 3.53.5% 13 Jun 2048SINGLE FAMILY MORTGAGE		14,000,000		14,382,576
FNMA TBA 30 YR 3.53.5% 12 Jul 2048SINGLE FAMILY MORTGAGE		2,300,000		2,378,973
FNMA TBA 30 YR 3.53.5% 13 Aug 2048SINGLE FAMILY MORTGAGE		4,600,000		4,738,359
FNMA TBA 30 YR 3.53.5% 13 Sep 2048SINGLE FAMILY MORTGAGE		2,300,000		2,368,102
FNMA TBA 30 YR 3.53.5% 11 Oct 2048SINGLE FAMILY MORTGAGE		5,400,000		5,573,438
FNMA TBA 30 YR 3.53.5% 13 Nov 2047SINGLE FAMILY MORTGAGE		4,600,000		4,732,328
FNMA TBA 30 YR 3.53.5% 13 Dec 2047SINGLE FAMILY MORTGAGE		3,100,000		3,185,188
FNMA TBA 30 YR 44% 18 Jan 2048SINGLE FAMILY MORTGAGE		6,600,000		6,895,066
FNMA TBA 30 YR 44% 13 Dec 2047SINGLE FAMILY MORTGAGE		6,600,000		6,904,750
FHLMC TBA 30 YR 3.53.5% 18 Jan 2048GOLD SINGLE FAMILY		1,000,000		1,027,871
FHLMC TBA 30 YR 3.53.5% 13 Mar 2048GOLD SINGLE FAMILY		2,000,000		2,043,926
FHLMC TBA 30 YR 3.53.5% 12 Apr 2048GOLD SINGLE FAMILY		2,000,000		2,040,547
FHLMC TBA 30 YR 3.53.5% 14 May 2048GOLD SINGLE FAMILY		1,000,000		1,028,203
FHLMC TBA 30 YR 3.53.5% 13 Jun 2048GOLD SINGLE FAMILY		2,000,000		2,056,406
FHLMC TBA 30 YR 3.53.5% 12 Jul 2048GOLD SINGLE FAMILY		1,000,000		1,031,211
FHLMC TBA 30 YR 3.53.5% 13 Aug 2048GOLD SINGLE FAMILY		2,000,000		2,060,938
FHLMC TBA 30 YR 3.53.5% 13 Sep 2048GOLD SINGLE FAMILY		1,000,000		1,032,383
FHLMC TBA 30 YR 3.53.5% 11 Oct 2048GOLD SINGLE FAMILY		1,000,000		1,031,914
FHLMC TBA 30 YR 3.53.5% 13 Nov 2047GOLD SINGLE FAMILY		2,000,000		2,054,766
FHLMC TBA 30 YR 3.53.5% 13 Dec 2047GOLD SINGLE FAMILY		2,000,000		2,055,059
CIT GROUP INC5.25% 15 Mar 2018SR UNSECURED 03/18 5.25		100,000		103,157
COLLEGE LOAN CORPORATION TRUST1% 25 Apr 2027COLLE 2005 1 A4		400,000		397,875
COLLEGE LOAN CORPORATION TRUST1% 25 Jul 2028COLLE 2006 1 A5		500,000		488,750
FED HOME LN DISCOUNT NT0.01% 22 Mar 2017DISCOUNT NOT 03/17 0.00000		400,000		400,000
FED HOME LN DISCOUNT NT0.01% 31 Mar 2017DISCOUNT NOT 03/17 0.00000		2,900,000		2,898,304
FED HOME LN DISCOUNT NT0.01% 04 Apr 2017DISCOUNT NOT 04/17 0.00000		800,000		799,605
FED HOME LN DISCOUNT NT0.01% 17 Apr 2017DISCOUNT NOT 04/17 0.00000		1,400,000		1,399,660

39

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Acquired and Disposed of Within Year)

December 31, 2017

Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares / Par Value		Proceeds of Dispositions
FED HOME LN DISCOUNT NT0.01% 21 Apr 2017DISCOUNT NOT 04/17 0.00000		600,000		599,806
FED HOME LN DISCOUNT NT0.01% 15 May 2017DISCOUNT NOT 05/17 0.00000		800,000		799,600
FED HOME LN DISCOUNT NT0.01% 27 Jun 2017DISCOUNT NOT 06/17 0.00000		400,000		399,757
FED HOME LN DISCOUNT NT0.01% 12 Oct 2017DISCOUNT NOT 10/17 0.00000		1,000,000		999,947
FED HOME LN DISCOUNT NT0.01% 24 Nov 2017DISCOUNT NOT 11/17 0.00000		2,800,000		2,796,516
FED HOME LN DISCOUNT NT0.01% 27 Dec 2017DISCOUNT NOT 12/17 0.00000		1,100,000		1,098,841
GCO EDUCATION LOAN FUNDING TRU1% 25 Aug 2028GCOE 2006 2A A3L 144A		181,212		181,212
JAPAN INT L COOP AGENCY2.75% 27 Apr 2027GOVT GUARANT 04/27 2.75		200,000		200,360
JUBILEE CDO BV1% 30 Jul 2024JUBIL I RA A 144A		141,139		166,403
FRANCE (GOVT OF)5.5% 25 Apr 2029BONDS REGS 04/29 5.5		200,000		333,935
MOLSON COORS BREWING CO1.9% 15 Mar 2019COMPANY GUAR 144A 03/19 1.9		325,000		324,808
SOUTHWESTERN PUBLIC SERV8.75% 01 Dec 20181ST MORTGAGE 12/18 8.75		200,000		217,290
VERIZON COMMUNICATIONS2.946% 15 Mar 2022SR UNSECURED 144A 03/22 2.946		1,449,434		1,476,306
MALAYSIA GOVERNMENT3.314% 31 Oct 2017SR UNSECURED 10/17 3.314		700,000		165,348
FRANCE (GOVT OF)2.25% 25 May 2024BONDS REGS 05/24 2.25		300,000		377,643
LETRA TESOURO NACIONAL0.01% 01 Jan 2018BILLS 01/18 0.00000		1,100,000		334,207
LLOYDS BANKING GROUP PLC1% 29 Dec 2049JR SUBORDINA REGS 12/49 VAR		200,000		296,710
MALAYSIA INVESTMNT ISSUE3.678% 23 Nov 2017SR UNSECURED 11/17 3.678		1,500,000		364,875
LETRA TESOURO NACIONAL0.01% 01 Oct 2017BILLS 10/17 0.00000		3,000,000		967,221
FRANCE (GOVT OF)1.25% 25 May 2036BONDS 144A REGS 05/36 1.25		2,000,000		2,258,890
MEXICO CETES0.01% 30 Nov 2017BILLS 11/17 0.00000		13,000,000		70,394
JAPAN TREASURY DISC BILL0.01% 17 Apr 2017BILLS 04/17 0.00000		360,000,000		3,321,799
MOF OF CZECH REP T BILL0.01% 30 Jun 2017BILLS REGS 06/17 0.00000		5,000,000		218,371
JAPAN TREASURY DISC BILL0.01% 29 May 2017BILLS 05/17 0.00000		50,000,000		449,458
JAPAN TREASURY DISC BILL0.01% 05 Jun 2017BILLS 06/17 0.00000		150,000,000		1,358,142
MEXICO CETES0.01% 01 Mar 2018BILLS 03/18 0.00000		43,000,000		228,739
JAPAN TREASURY DISC BILL0.01% 12 Jun 2017BILLS 06/17 0.00000		820,000,000		7,467,104
JAPAN TREASURY DISC BILL0.01% 19 Jun 2017BILLS 06/17 0.00000		830,000,000		7,458,998
MOF OF CZECH REP T BILL0.01% 29 Sep 2017BILLS 09/17 0.00000		6,000,000		272,905
JAPAN TREASURY DISC BILL0.01% 18 Jul 2017BILLS 07/17 0.00000		360,000,000		3,219,604
JAPAN TREASURY DISC BILL0.01% 28 Aug 2017BILLS 08/17 0.00000		50,000,000		457,834
JAPAN TREASURY DISC BILL0.01% 04 Sep 2017BILLS 09/17 0.00000		150,000,000		1,361,223
JAPAN TREASURY DISC BILL0.01% 11 Sep 2017BILLS 09/17 0.00000		820,000,000		7,530,190
JAPAN TREASURY DISC BILL0.01% 19 Sep 2017BILLS 09/17 0.00000		830,000,000		7,453,648
JAPAN TREASURY DISC BILL0.01% 16 Oct 2017BILLS 10/17 0.00000		360,000,000		3,223,063
JAPAN TREASURY DISC BILL0.01% 04 Dec 2017BILLS 12/17 0.00000		150,000,000		1,330,731
JAPAN TREASURY DISC BILL0.01% 11 Dec 2017BILLS 12/17 0.00000		820,000,000		7,233,273
JAPAN TREASURY DISC BILL0.01% 18 Dec 2017BILLS 12/17 0.00000		780,000,000		6,941,046
EMERALD BAY SA1% 31 Oct 2020PASS THRU CE 144A 10/20 VAR		98,000		100,221
RABOBANK STICHTING AK6.5% 29 Dec 2049JR SUBORDINA REGS 12/49 6.5		100,000		142,211
COOPERATIEVE RABOBANK UA1% 29 Nov 2049JR SUBORDINA REGS 11/49 VAR		200,000		200,000
Total Fixed Income Securities			$	221,994,695
Real Estate Investment Trusts
FIRST POTOMAC REALTY TRUST		141,619	$	1,568,863
ICADE		2,090		181,739
MIRVAC GROUP		310,733		558,454
Total Real Estate Investment Trusts			$	2,309,056
Securities Purchased Under Agreements to Resell
BARCLAYS CAPITAL REPO		500,000	$	500,000
REPO CREDIT SUISSE		1,766,100,000		1,766,100,000
J P MORGAN TERM REPO		24,200,000		24,200,000
CITIGROUP REPO		4,800,000		4,800,000
RBC CAPITAL MARKETS REPO		33,700,000		33,700,000
REPO SOCIETE GENERALE		9,600,000		9,600,000
Total Securities Purchased Under Agreements to Resell			$	1,838,900,000
Total Acquired and Disposed of Within the Year			$	2,062,445,064

40

The Goldman Sachs 401(k) Plan

Schedule H, Line 4j — Schedule of Reportable Transactions

December 31, 2017

Identity of issue, borrower, lessor or similar party

Purchase price

Number of transactions (purchases)

Selling price

Number of transactions (sales)

Cost

Current value

Net gain or (loss)

Series of Transactions

VANGUARD FEDERAL MONEY MARKET

694,708,481

2

–

–

694,708,481

694,708,481

–

Single Transactions

GOLDMAN SACHS FINANCIAL SQUARE TREASURY OBLIGATIONS FUND

–

–

699,981,448

–

699,981,448

699,981,448

–

VANGUARD FEDERAL MONEY MARKET

694,538,875

–

–

–

–

694,538,875

–

41

SIGNATURES

The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the Administrative Committee (or other persons who administer the employee benefit plan) has duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

THE GOLDMAN SACHS 401(k) PLAN

Members of the Administrative Committee

By:	/s/	Christopher Ceder
Name:		Christopher Ceder
By:	/s/	Michael Rendel
Name:		Michael Rendel
By:	/s/	Michael Perloff
Name:		Michael Perloff

Date: June 21, 2018

INDEX TO EXHIBITS

Exhibit No.	Description
23	Consent of PricewaterhouseCoopers LLP, Independent Registered Public Accounting Firm