Goldman

Sachs

Nasdaq-100

Core

Premium

Income

ETF

Schedule

of

Investments

May

31,

2024

(Unaudited)

Shares

Description

Value

aa

Common

Stocks

–

99.9%

Communication

Services

–

15.9%

13,870

Alphabet,

Inc.,

Class

A*

$

2,392,575

13,347

Alphabet,

Inc.,

Class

C*

2,321,844

883

Charter

Communications,

Inc.,

Class

A*

253,527

24,088

Comcast

Corp.,

Class

A

964,243

1,625

Electronic

Arts,

Inc.

215,930

8,238

Meta

Platforms,

Inc.,

Class

A

3,845,746

2,631

Netflix,

Inc.*

1,688,102

23,375

Sirius

XM

Holdings,

Inc.

65,918

1,037

Take-Two

Interactive

Software,

Inc.*

166,293

7,220

T-Mobile

US,

Inc.

1,263,211

2,705

Trade

Desk,

Inc.

(The),

Class

A*

250,970

14,847

Warner

Bros

Discovery,

Inc.*

122,339

13,550,698

Consumer

Discretionary

–

12.5%

2,652

Airbnb,

Inc.,

Class

A*

384,354

24,448

Amazon.com,

Inc.*

4,313,605

203

Booking

Holdings,

Inc.

766,599

2,278

DoorDash,

Inc.,

Class

A*

250,831

734

Lululemon

Athletica,

Inc.*

229,001

1,760

Marriott

International,

Inc.,

Class

A

406,859

308

MercadoLibre,

Inc.

(Brazil)*

531,479

359

O'Reilly

Automotive,

Inc.*

345,810

4,060

PDD

Holdings,

Inc.

ADR

(China)*

608,107

2,046

Ross

Stores,

Inc.

285,949

6,889

Starbucks

Corp.

552,635

11,346

Tesla,

Inc.*

2,020,496

10,695,725

Consumer

Staples

–

6.5%

2,780

Coca-Cola

Europacific

Partners

PLC

(United

Kingdom)

204,914

2,697

Costco

Wholesale

Corp.

2,184,273

1,319

Dollar

Tree,

Inc.*

155,576

8,456

Keurig

Dr

Pepper,

Inc.

289,618

7,392

Kraft

Heinz

Co.

(The)

261,455

8,185

Mondelez

International,

Inc.,

Class

A

560,918

6,330

Monster

Beverage

Corp.*

328,654

8,357

PepsiCo,

Inc.

1,444,925

5,233

Walgreens

Boots

Alliance,

Inc.

84,879

5,515,212

Energy

–

0.5%

6,101

Baker

Hughes

Co.

204,262

1,085

Diamondback

Energy,

Inc.

216,197

420,459

Financials

–

0.5%

6,517

PayPal

Holdings,

Inc.*

410,506

Health

Care

–

6.3%

3,258

Amgen,

Inc.

996,459

3,544

AstraZeneca

PLC

ADR

(United

Kingdom)

276,503

884

Biogen,

Inc.*

198,847

2,344

Dexcom,

Inc.*

278,397

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Health

Care

–

(continued)

2,776

GE

HealthCare

Technologies,

Inc.

$

216,528

7,573

Gilead

Sciences,

Inc.

486,717

505

IDEXX

Laboratories,

Inc.*

250,960

955

Illumina,

Inc.*

99,587

2,142

Intuitive

Surgical,

Inc.*

861,341

2,323

Moderna,

Inc.*

331,143

656

Regeneron

Pharmaceuticals,

Inc.*

642,985

1,561

Vertex

Pharmaceuticals,

Inc.*

710,786

5,350,253

Industrials

–

4.4%

2,483

Automatic

Data

Processing,

Inc.

608,136

602

Cintas

Corp.

408,138

5,862

Copart,

Inc.*

311,038

11,908

CSX

Corp.

401,895

3,485

Fastenal

Co.

229,940

3,965

Honeywell

International,

Inc.

801,683

1,322

Old

Dominion

Freight

Line,

Inc.

231,681

3,182

PACCAR,

Inc.

342,065

2,200

Paychex,

Inc.

264,352

872

Verisk

Analytics,

Inc.

220,424

3,819,352

Information

Technology

–

50.3%

2,748

Adobe,

Inc.*

1,222,201

9,822

Advanced

Micro

Devices,

Inc.*

1,639,292

3,005

Analog

Devices,

Inc.

704,642

529

ANSYS,

Inc.*

167,931

36,344

Apple,

Inc.

6,987,134

5,050

Applied

Materials,

Inc.

1,086,154

525

ASML

Holding

NV

(Netherlands)

504,184

949

Atlassian

Corp.,

Class

A*

148,860

1,302

Autodesk,

Inc.*

262,483

2,812

Broadcom,

Inc.

3,735,883

1,654

Cadence

Design

Systems,

Inc.*

473,557

816

CDW

Corp.

182,474

24,615

Cisco

Systems,

Inc.

1,144,598

3,013

Cognizant

Technology

Solutions

Corp.,

Class

A

199,310

1,364

Crowdstrike

Holdings,

Inc.,

Class

A*

427,846

1,859

Datadog,

Inc.,

Class

A*

204,825

4,644

Fortinet,

Inc.*

275,482

3,337

GLOBALFOUNDRIES,

Inc.*

163,513

25,702

Intel

Corp.

792,907

1,698

Intuit,

Inc.

978,795

803

KLA

Corp.

609,903

787

Lam

Research

Corp.

733,830

5,247

Marvell

Technology,

Inc.

361,046

3,285

Microchip

Technology,

Inc.

319,401

6,711

Micron

Technology,

Inc.

838,875

17,488

Microsoft

Corp.

7,259,793

421

MongoDB,

Inc.*

99,381

5,883

NVIDIA

Corp.

6,449,709

1,544

NXP

Semiconductors

NV

(China)

420,122

2,604

ON

Semiconductor

Corp.*

190,196

Goldman

Sachs

Nasdaq-100

Core

Premium

Income

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Additional

Investment

Information 

**End

swaps

header**

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Information

Technology

–

(continued)

1,964

Palo

Alto

Networks,

Inc.*

$

579,203

6,784

QUALCOMM,

Inc.

1,384,275

651

Roper

Technologies,

Inc.

346,827

923

Synopsys,

Inc.*

517,618

5,528

Texas

Instruments,

Inc.

1,078,015

1,271

Workday,

Inc.,

Class

A*

268,753

902

Zscaler,

Inc.*

153,304

42,912,322

Materials

–

1.5%

2,928

Linde

PLC

1,275,202

Real

Estate

–

0.2%

2,466

CoStar

Group,

Inc.*

192,767

Utilities

–

1.3%

3,192

American

Electric

Power

Co.,

Inc.

288,078

1,911

Constellation

Energy

Corp.

415,165

6,088

Exelon

Corp.

228,604

3,368

Xcel

Energy,

Inc.

186,756

1,118,603

TOTAL

COMMON

STOCKS

(Cost

$79,615,236)

85,261,099

Shares

Description

Value

a

Exchange-Traded

Fund

–

0.9%

4,016

Invesco

Nasdaq

100

ETF

(Cost

$719,133)

$

746,454

Shares

Dividend

Rate

Value

aa

Investment

Company

–

0.2%

(a)

Goldman

Sachs

Financial

Square

Treasury

Obligations

Fund

–

Institutional

Shares

209,188

5.180%

209,188

(Cost

$209,188)

TOTAL

INVESTMENTS

–

101.0%

(Cost

$80,543,557)

$

86,216,741

LIABILITIES

IN

EXCESS

OF

OTHER

ASSETS

–

(1.0)%

(854,134)

NET

ASSETS

–

100.0%

$

85,362,607

  a

The

percentage

shown

for

each

investment

category

reflects

the

value

of

investments

in

that

category

as

a

percentage

of

net

assets.

*

Non-income

producing

security.

(a)

Represents

an

affiliated

issuer.

Investment

Abbreviations:

ADR

—

American

Depositary

Receipt

PLC

—

Public

Limited

Company

WRITTEN

OPTIONS

CONTRACTS

—

At

May

31,

2024,

the

Fund

had

the

following

written

option

contracts:

EXCHANGE

TRADED

OPTIONS

ON

EQUITY

CONTRACTS

Description

Exercise

Rate

Expiration

Date

Number

of

Contracts

Notional

Amount

Market

Value

Premiums

Paid

(Received)

by

the

Fund

Unrealized

Appreciation/

(Depreciation)

Written

Option

Contracts:

Calls

Invesco

QQQ

Trust

Series

1

$

446.00

07/01/2024

626

$

(27,920)

$

(732,213)

$

(531,944)

$

(200,269)

Invesco

QQQ

Trust

Series

1

460.00

06/24/2024

110

(5,060)

(37,316)

(72,242)

34,926

Invesco

QQQ

Trust

Series

1

452.00

06/17/2024

29

(1,311)

(17,460)

(27,369)

9,908

Invesco

QQQ

Trust

Series

1

442.00

06/10/2024

34

(1,503)

(38,002)

(26,987)

(11,014)

Invesco

QQQ

Trust

Series

1

439.00

06/10/2024

38

(1,668)

(52,858)

(36,775)

(16,084)

Total

written

option

contracts

837

$

(37,462)

$

(877,849)

$

(695,317)

$

(182,533)

Goldman

Sachs

S&P

500

Core

Premium

Income

ETF

Schedule

of

Investments

May

31,

2024

(Unaudited)

Shares

Description

Value

aa

Common

Stocks

–

100.1%

Communication

Services

–

9.3%

16,693

Alphabet,

Inc.,

Class

A*

$

2,879,542

13,958

Alphabet,

Inc.,

Class

C*

2,428,134

20,342

AT&T,

Inc.

370,631

286

Charter

Communications,

Inc.,

Class

A*

82,116

11,229

Comcast

Corp.,

Class

A

449,497

664

Electronic

Arts,

Inc.

88,232

473

Fox

Corp.,

Class

A

16,285

374

Fox

Corp.,

Class

B

11,946

996

Interpublic

Group

of

Cos.,

Inc.

(The)

31,245

392

Live

Nation

Entertainment,

Inc.*

36,746

833

Match

Group,

Inc.*

25,515

6,216

Meta

Platforms,

Inc.,

Class

A

2,901,815

1,212

Netflix,

Inc.*

777,643

1,077

News

Corp.,

Class

A

29,284

243

News

Corp.,

Class

B

6,775

552

Omnicom

Group,

Inc.

51,314

1,321

Paramount

Global,

Class

B

15,733

456

Take-Two

Interactive

Software,

Inc.*

73,124

1,486

T-Mobile

US,

Inc.

259,991

11,965

Verizon

Communications,

Inc.

492,360

5,196

Walt

Disney

Co.

(The)

539,916

6,558

Warner

Bros

Discovery,

Inc.*

54,038

11,621,882

Consumer

Discretionary

–

9.7%

1,213

Airbnb,

Inc.,

Class

A*

175,800

25,836

Amazon.com,

Inc.*

4,558,504

802

Aptiv

PLC*

66,775

45

AutoZone,

Inc.*

124,647

604

Bath

&

Body

Works,

Inc.

31,372

491

Best

Buy

Co.,

Inc.

41,647

86

Booking

Holdings,

Inc.

324,766

673

BorgWarner,

Inc.

23,999

611

Caesars

Entertainment,

Inc.*

21,727

485

CarMax,

Inc.*

34,076

2,855

Carnival

Corp.*

43,053

68

Chipotle

Mexican

Grill,

Inc.*

212,807

863

D.R.

Horton,

Inc.

127,551

329

Darden

Restaurants,

Inc.

49,478

64

Deckers

Outdoor

Corp.*

70,011

95

Domino's

Pizza,

Inc.

48,315

1,422

eBay,

Inc.

77,101

377

Etsy,

Inc.*

23,928

378

Expedia

Group,

Inc.*

42,661

11,154

Ford

Motor

Co.

135,298

436

Garmin

Ltd.

71,439

3,282

General

Motors

Co.

147,657

385

Genuine

Parts

Co.

55,494

337

Hasbro,

Inc.

20,146

722

Hilton

Worldwide

Holdings,

Inc.

144,833

2,820

Home

Depot,

Inc.

(The)

944,333

1,037

Las

Vegas

Sands

Corp.

46,696

700

Lennar

Corp.,

Class

A

112,245

731

LKQ

Corp.

31,455

1,630

Lowe’s

Cos.,

Inc.

360,703

319

Lululemon

Athletica,

Inc.*

99,525

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Consumer

Discretionary

–

(continued)

684

Marriott

International,

Inc.,

Class

A

$

158,120

2,056

McDonald's

Corp.

532,278

774

MGM

Resorts

International*

31,092

149

Mohawk

Industries,

Inc.*

18,168

3,418

NIKE,

Inc.,

Class

B

324,881

1,111

Norwegian

Cruise

Line

Holdings

Ltd.*

18,443

8

NVR,

Inc.*

61,446

167

O'Reilly

Automotive,

Inc.*

160,864

100

Pool

Corp.

36,355

601

PulteGroup,

Inc.

70,509

121

Ralph

Lauren

Corp.

22,613

946

Ross

Stores,

Inc.

132,213

664

Royal

Caribbean

Cruises

Ltd.*

98,060

3,232

Starbucks

Corp.

259,271

650

Tapestry,

Inc.

28,269

7,825

Tesla,

Inc.*

1,393,476

3,198

TJX

Cos.,

Inc.

(The)

329,714

300

Tractor

Supply

Co.

85,587

138

Ulta

Beauty,

Inc.*

54,522

290

Wynn

Resorts

Ltd.

27,515

796

Yum!

Brands,

Inc.

109,394

12,220,832

Consumer

Staples

–

6.1%

4,997

Altria

Group,

Inc.

231,111

1,502

Archer-Daniels-Midland

Co.

93,785

425

Brown-Forman

Corp.,

Class

B

19,490

383

Bunge

Global

SA

41,207

563

Campbell

Soup

Co.

24,986

628

Church

&

Dwight

Co.,

Inc.

67,202

347

Clorox

Co.

(The)

45,651

11,027

Coca-Cola

Co.

(The)

693,929

2,333

Colgate-Palmolive

Co.

216,876

1,355

Conagra

Brands,

Inc.

40,487

462

Constellation

Brands,

Inc.,

Class

A

115,606

1,260

Costco

Wholesale

Corp.

1,020,461

616

Dollar

General

Corp.

84,337

573

Dollar

Tree,

Inc.*

67,585

655

Estee

Lauder

Cos.,

Inc.

(The),

Class

A

80,801

1,580

General

Mills,

Inc.

108,625

424

Hershey

Co.

(The)

83,880

815

Hormel

Foods

Corp.

25,249

287

J

M

Smucker

Co.

(The)

32,041

748

Kellanova

45,134

5,022

Kenvue,

Inc.

96,925

2,971

Keurig

Dr

Pepper,

Inc.

101,757

958

Kimberly-Clark

Corp.

127,701

2,259

Kraft

Heinz

Co.

(The)

79,901

1,838

Kroger

Co.

(The)

96,256

409

Lamb

Weston

Holdings,

Inc.

36,111

704

McCormick

&

Co.,

Inc.

50,843

500

Molson

Coors

Beverage

Co.,

Class

B

27,405

3,819

Mondelez

International,

Inc.,

Class

A

261,716

1,987

Monster

Beverage

Corp.*

103,165

Goldman

Sachs

S&P

500

Core

Premium

Income

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Consumer

Staples

–

(continued)

3,895

PepsiCo,

Inc.

$

673,446

4,399

Philip

Morris

International,

Inc.

445,971

6,618

Procter &

Gamble

Co.

(The)

1,088,926

1,389

Sysco

Corp.

101,147

1,303

Target

Corp.

203,476

818

Tyson

Foods,

Inc.,

Class

A

46,831

2,143

Walgreens

Boots

Alliance,

Inc.

34,759

12,069

Walmart,

Inc.

793,657

7,508,436

Energy

–

3.9%

955

APA

Corp.

29,156

2,819

Baker

Hughes

Co.

94,380

4,905

Chevron

Corp.

796,081

3,315

ConocoPhillips

386,131

2,057

Coterra

Energy,

Inc.

58,666

1,778

Devon

Energy

Corp.

87,264

509

Diamondback

Energy,

Inc.

101,423

1,616

EOG

Resources,

Inc.

201,273

1,219

EQT

Corp.

50,089

12,812

Exxon

Mobil

Corp.

1,502,335

2,574

Halliburton

Co.

94,466

777

Hess

Corp.

119,736

5,480

Kinder

Morgan,

Inc.

106,805

1,659

Marathon

Oil

Corp.

48,045

1,045

Marathon

Petroleum

Corp.

184,557

1,851

Occidental

Petroleum

Corp.

115,688

1,658

ONEOK,

Inc.

134,298

1,205

Phillips

66

171,243

4,068

Schlumberger

NV

186,681

632

Targa

Resources

Corp.

74,721

971

Valero

Energy

Corp.

152,583

3,469

Williams

Cos.,

Inc.

(The)

143,998

4,839,619

Financials

–

12.9%

1,507

Aflac,

Inc.

135,434

745

Allstate

Corp.

(The)

124,802

1,628

American

Express

Co.

390,720

1,989

American

International

Group,

Inc.

156,773

331

Ameriprise

Financial,

Inc.

144,518

566

Aon

PLC,

Class

A

159,408

1,038

Arch

Capital

Group

Ltd.*

106,530

595

Arthur

J

Gallagher

&

Co.

150,731

127

Assurant,

Inc.

22,031

19,511

Bank

of

America

Corp.

780,245

2,638

Bank

of

New

York

Mellon

Corp.

(The)

157,251

5,189

Berkshire

Hathaway,

Inc.,

Class

B*

2,150,322

439

BlackRock,

Inc.

338,921

2,118

Blackstone,

Inc.

255,219

634

Brown

&

Brown,

Inc.

56,749

1,134

Capital

One

Financial

Corp.

156,072

300

Cboe

Global

Markets,

Inc.

51,897

4,346

Charles

Schwab

Corp.

(The)

318,475

1,148

Chubb

Ltd.

310,901

459

Cincinnati

Financial

Corp.

53,969

5,393

Citigroup,

Inc.

336,038

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Financials

–

(continued)

1,321

Citizens

Financial

Group,

Inc.

$

46,618

1,088

CME

Group,

Inc.

220,842

344

Comerica,

Inc.

17,627

213

Corpay,

Inc.*

57,014

721

Discover

Financial

Services

88,438

123

Everest

Group

Ltd.

48,084

138

FactSet

Research

Systems,

Inc.

55,788

1,530

Fidelity

National

Information

Services,

Inc.

116,096

1,876

Fifth

Third

Bancorp

70,200

1,715

Fiserv,

Inc.*

256,838

1,418

Franklin

Resources,

Inc.

33,465

762

Global

Payments,

Inc.

77,610

221

Globe

Life,

Inc.

18,290

859

Hartford

Financial

Services

Group,

Inc.

(The)

88,864

4,029

Huntington

Bancshares,

Inc.

56,084

1,779

Intercontinental

Exchange,

Inc.

238,208

1,952

Invesco

Ltd.

30,666

191

Jack

Henry

&

Associates,

Inc.

31,454

8,201

JPMorgan

Chase &

Co.

1,661,769

2,654

KeyCorp

38,138

516

Loews

Corp.

39,629

467

M&T

Bank

Corp.

70,797

107

MarketAxess

Holdings,

Inc.

21,286

1,400

Marsh

&

McLennan

Cos.,

Inc.

290,612

2,327

Mastercard,

Inc.,

Class

A

1,040,332

1,765

MetLife,

Inc.

127,733

495

Moody's

Corp.

196,510

3,719

Morgan

Stanley

363,867

224

MSCI,

Inc.

110,920

1,279

Nasdaq,

Inc.

75,499

738

Northern

Trust

Corp.

62,169

3,045

PayPal

Holdings,

Inc.*

191,805

1,128

PNC

Financial

Services

Group,

Inc.

(The)

177,536

611

Principal

Financial

Group,

Inc.

50,126

1,637

Progressive

Corp.

(The)

345,702

1,016

Prudential

Financial,

Inc.

122,276

660

Raymond

James

Financial,

Inc.

81,015

2,568

Regions

Financial

Corp.

49,691

944

S&P

Global,

Inc.

403,569

1,091

State

Street

Corp.

82,469

1,153

Synchrony

Financial

50,501

724

T.

Rowe

Price

Group,

Inc.

85,309

639

Travelers

Cos.,

Inc.

(The)

137,832

3,782

Truist

Financial

Corp.

142,770

4,401

US

Bancorp

178,461

4,482

Visa,

Inc.,

Class

A

1,221,166

514

W

R

Berkley

Corp.

41,649

10,225

Wells

Fargo &

Co.

612,682

282

Willis

Towers

Watson

PLC

71,992

16,055,004

Health

Care

–

12.0%

4,905

Abbott

Laboratories

501,242

5,014

AbbVie,

Inc.

808,457

814

Agilent

Technologies,

Inc.

106,154

201

Align

Technology,

Inc.*

51,699

1,516

Amgen,

Inc.

463,669

Goldman

Sachs

S&P

500

Core

Premium

Income

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Health

Care

–

(continued)

1,467

Baxter

International,

Inc.

$

50,010

815

Becton

Dickinson

&

Co.

189,056

399

Biogen,

Inc.*

89,751

57

Bio-Rad

Laboratories,

Inc.,

Class

A*

16,351

445

Bio-Techne

Corp.

34,350

4,156

Boston

Scientific

Corp.*

314,069

5,750

Bristol-Myers

Squibb

Co.

236,268

634

Cardinal

Health,

Inc.

62,937

545

Catalent,

Inc.*

29,316

461

Cencora,

Inc.

104,449

1,492

Centene

Corp.*

106,812

136

Charles

River

Laboratories

International,

Inc.*

28,348

825

Cigna

Group

(The)

284,312

553

Cooper

Cos.,

Inc.

(The)

52,153

3,586

CVS

Health

Corp.

213,726

1,863

Danaher

Corp.

478,418

166

DaVita,

Inc.*

24,422

1,079

Dexcom,

Inc.*

128,153

1,698

Edwards

Lifesciences

Corp.*

147,539

653

Elevance

Health,

Inc.

351,627

2,263

Eli

Lilly

&

Co.

1,856,429

1,213

GE

HealthCare

Technologies,

Inc.

94,614

3,510

Gilead

Sciences,

Inc.

225,588

557

HCA

Healthcare,

Inc.

189,241

326

Henry

Schein,

Inc.*

22,605

676

Hologic,

Inc.*

49,875

338

Humana,

Inc.

121,045

235

IDEXX

Laboratories,

Inc.*

116,783

469

Illumina,

Inc.*

48,907

530

Incyte

Corp.*

30,629

199

Insulet

Corp.*

35,261

1,004

Intuitive

Surgical,

Inc.*

403,728

526

IQVIA

Holdings,

Inc.*

115,241

6,787

Johnson &

Johnson

995,449

240

Labcorp

Holdings,

Inc.

46,778

370

McKesson

Corp.

210,748

3,799

Medtronic

PLC

309,125

7,161

Merck &

Co.,

Inc.

898,992

55

Mettler-Toledo

International,

Inc.*

77,225

923

Moderna,

Inc.*

131,574

164

Molina

Healthcare,

Inc.*

51,591

15,978

Pfizer,

Inc.

457,929

301

Quest

Diagnostics,

Inc.

42,733

296

Regeneron

Pharmaceuticals,

Inc.*

290,127

424

ResMed,

Inc.

87,484

325

Revvity,

Inc.

35,509

423

Solventum

Corp.*

25,101

287

STERIS

PLC

63,967

946

Stryker

Corp.

322,671

121

Teleflex,

Inc.

25,297

1,095

Thermo

Fisher

Scientific,

Inc.

621,938

2,615

UnitedHealth

Group,

Inc.

1,295,393

187

Universal

Health

Services,

Inc.,

Class

B

35,493

733

Vertex

Pharmaceuticals,

Inc.*

333,764

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Health

Care

–

(continued)

3,400

Viatris,

Inc.

$

36,040

168

Waters

Corp.*

51,895

210

West

Pharmaceutical

Services,

Inc.

69,596

608

Zimmer

Biomet

Holdings,

Inc.

70,011

1,303

Zoetis,

Inc.

220,937

14,990,601

Industrials

–

8.5%

1,581

3M

Co.

158,321

321

A

O

Smith

Corp.

26,848

269

Allegion

PLC

32,770

1,883

American

Airlines

Group,

Inc.*

21,654

632

AMETEK,

Inc.

107,175

1,147

Automatic

Data

Processing,

Inc.

280,923

207

Axon

Enterprise,

Inc.*

58,306

1,623

Boeing

Co.

(The)*

288,261

339

Broadridge

Financial

Solutions,

Inc.

68,061

344

Builders

FirstSource,

Inc.*

55,312

275

C.H.

Robinson

Worldwide,

Inc.

23,752

2,384

Carrier

Global

Corp.

150,645

1,443

Caterpillar,

Inc.

488,484

239

Cintas

Corp.

162,035

2,422

Copart,

Inc.*

128,511

5,652

CSX

Corp.

190,755

378

Cummins,

Inc.

106,494

390

Dayforce,

Inc.*

19,289

738

Deere

&

Co.

276,573

1,847

Delta

Air

Lines,

Inc.

94,234

378

Dover

Corp.

69,484

1,137

Eaton

Corp.

PLC

378,450

1,625

Emerson

Electric

Co.

182,260

348

Equifax,

Inc.

80,524

348

Expeditors

International

of

Washington,

Inc.

42,073

1,599

Fastenal

Co.

105,502

645

FedEx

Corp.

163,804

963

Fortive

Corp.

71,686

773

GE

Vernova,

Inc.*

135,971

181

Generac

Holdings,

Inc.*

26,645

629

General

Dynamics

Corp.

188,555

3,095

General

Electric

Co.

511,108

1,863

Honeywell

International,

Inc.

376,680

1,086

Howmet

Aerospace,

Inc.

91,930

138

Hubbell,

Inc.

53,667

95

Huntington

Ingalls

Industries,

Inc.

24,044

207

IDEX

Corp.

43,188

773

Illinois

Tool

Works,

Inc.

187,646

1,129

Ingersoll

Rand,

Inc.

105,053

222

J.B.

Hunt

Transport

Services,

Inc.

35,687

339

Jacobs

Solutions,

Inc.

47,236

1,944

Johnson

Controls

International

PLC

139,793

531

L3Harris

Technologies,

Inc.

119,385

403

Leidos

Holdings,

Inc.

59,261

609

Lockheed

Martin

Corp.

286,437

623

Masco

Corp.

43,560

133

Nordson

Corp.

31,218

Goldman

Sachs

S&P

500

Core

Premium

Income

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Industrials

–

(continued)

640

Norfolk

Southern

Corp.

$

143,872

388

Northrop

Grumman

Corp.

174,899

500

Old

Dominion

Freight

Line,

Inc.

87,625

1,162

Otis

Worldwide

Corp.

115,270

1,500

PACCAR,

Inc.

161,250

359

Parker-Hannifin

Corp.

190,816

858

Paychex,

Inc.

103,097

114

Paycom

Software,

Inc.

16,566

458

Pentair

PLC

37,272

399

Quanta

Services,

Inc.

110,100

580

Republic

Services,

Inc.

107,410

204

Robert

Half,

Inc.

13,103

316

Rockwell

Automation,

Inc.

81,379

679

Rollins,

Inc.

31,024

3,762

RTX

Corp.

405,581

154

Snap-on,

Inc.

42,020

1,722

Southwest

Airlines

Co.

46,218

418

Stanley

Black

&

Decker,

Inc.

36,437

537

Textron,

Inc.

47,047

645

Trane

Technologies

PLC

211,212

158

TransDigm

Group,

Inc.

212,230

5,837

Uber

Technologies,

Inc.*

376,837

1,747

Union

Pacific

Corp.

406,737

930

United

Airlines

Holdings,

Inc.*

49,281

2,028

United

Parcel

Service,

Inc.,

Class

B

281,750

183

United

Rentals,

Inc.

122,502

608

Veralto

Corp.

59,937

411

Verisk

Analytics,

Inc.

103,893

125

W.W.

Grainger,

Inc.

115,183

1,039

Waste

Management,

Inc.

218,948

505

Westinghouse

Air

Brake

Technologies

Corp.

85,461

651

Xylem,

Inc.

91,804

10,626,011

Information

Technology

–

30.7%

1,775

Accenture

PLC,

Class

A

501,065

1,280

Adobe,

Inc.*

569,293

4,567

Advanced

Micro

Devices,

Inc.*

762,232

420

Akamai

Technologies,

Inc.*

38,741

1,698

Amphenol

Corp.,

Class

A

224,764

1,404

Analog

Devices,

Inc.

329,224

250

ANSYS,

Inc.*

79,362

41,057

Apple,

Inc.

7,893,208

2,353

Applied

Materials,

Inc.

506,083

722

Arista

Networks,

Inc.*

214,903

591

Autodesk,

Inc.*

119,146

1,247

Broadcom,

Inc.

1,656,702

767

Cadence

Design

Systems,

Inc.*

219,600

374

CDW

Corp.

83,634

11,533

Cisco

Systems,

Inc.

536,285

1,374

Cognizant

Technology

Solutions

Corp.,

Class

A

90,890

2,162

Corning,

Inc.

80,556

401

Enphase

Energy,

Inc.*

51,288

166

EPAM

Systems,

Inc.*

29,536

140

F5,

Inc.*

23,656

65

Fair

Isaac

Corp.*

83,845

310

First

Solar,

Inc.*

84,246

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Information

Technology

–

(continued)

1,761

Fortinet,

Inc.*

$

104,463

205

Gartner,

Inc.*

86,032

1,498

Gen

Digital,

Inc.

37,195

3,724

Hewlett

Packard

Enterprise

Co.

65,729

2,384

HP,

Inc.

87,016

11,972

Intel

Corp.

369,336

2,608

International

Business

Machines

Corp.

435,145

796

Intuit,

Inc.

458,846

361

Jabil,

Inc.

42,923

833

Juniper

Networks,

Inc.

29,713

492

Keysight

Technologies,

Inc.*

68,132

371

KLA

Corp.

281,786

361

Lam

Research

Corp.

336,611

1,508

Microchip

Technology,

Inc.

146,623

3,136

Micron

Technology,

Inc.

392,000

21,015

Microsoft

Corp.

8,723,957

136

Monolithic

Power

Systems,

Inc.

100,046

470

Motorola

Solutions,

Inc.

171,508

577

NetApp,

Inc.

69,488

6,988

NVIDIA

Corp.

7,661,154

736

NXP

Semiconductors

NV

(China)

200,266

1,191

ON

Semiconductor

Corp.*

86,991

4,538

Oracle

Corp.

531,808

884

Palo

Alto

Networks,

Inc.*

260,700

331

PTC,

Inc.*

58,335

230

Qorvo,

Inc.*

22,630

3,161

QUALCOMM,

Inc.

645,002

294

Roper

Technologies,

Inc.

156,631

2,739

Salesforce,

Inc.

642,131

554

Seagate

Technology

Holdings

PLC

51,655

567

ServiceNow,

Inc.*

372,479

443

Skyworks

Solutions,

Inc.

41,048

132

Super

Micro

Computer,

Inc.*

103,555

432

Synopsys,

Inc.*

242,266

876

TE

Connectivity

Ltd.

131,137

128

Teledyne

Technologies,

Inc.*

50,810

438

Teradyne,

Inc.

61,732

2,560

Texas

Instruments,

Inc.

499,226

731

Trimble,

Inc.*

40,702

103

Tyler

Technologies,

Inc.*

49,477

261

VeriSign,

Inc.*

45,498

928

Western

Digital

Corp.*

69,869

146

Zebra

Technologies

Corp.,

Class

A*

45,602

38,255,512

Materials

–

2.3%

627

Air

Products

and

Chemicals,

Inc.

167,221

333

Albemarle

Corp.

40,822

4,262

Amcor

PLC

43,345

229

Avery

Dennison

Corp.

52,118

889

Ball

Corp.

61,723

295

Celanese

Corp.

44,852

564

CF

Industries

Holdings,

Inc.

44,968

1,968

Corteva,

Inc.

110,090

1,992

Dow,

Inc.

114,799

1,210

DuPont

de

Nemours,

Inc.

99,414

Goldman

Sachs

S&P

500

Core

Premium

Income

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Materials

–

(continued)

349

Eastman

Chemical

Co.

$

35,364

718

Ecolab,

Inc.

166,720

325

FMC

Corp.

19,809

4,057

Freeport-McMoRan,

Inc.

213,926

731

International

Flavors

&

Fragrances,

Inc.

70,308

950

International

Paper

Co.

42,835

1,370

Linde

PLC

596,662

708

LyondellBasell

Industries

NV,

Class

A

70,389

175

Martin

Marietta

Materials,

Inc.

100,114

926

Mosaic

Co.

(The)

28,641

3,262

Newmont

Corp.

136,808

705

Nucor

Corp.

119,039

246

Packaging

Corp.

of

America

45,139

650

PPG

Industries,

Inc.

85,416

667

Sherwin-Williams

Co.

(The)

202,635

419

Steel

Dynamics,

Inc.

56,091

364

Vulcan

Materials

Co.

93,100

723

Westrock

Co.

38,782

2,901,130

Real

Estate

–

2.2%

469

Alexandria

Real

Estate

Equities,

Inc.

REIT

55,811

1,321

American

Tower

Corp.

REIT

258,573

396

AvalonBay

Communities,

Inc.

REIT

76,301

396

Boston

Properties,

Inc.

REIT

24,025

269

Camden

Property

Trust

REIT

27,613

835

CBRE

Group,

Inc.,

Class

A*

73,538

1,145

CoStar

Group,

Inc.*

89,505

1,232

Crown

Castle,

Inc.

REIT

126,280

931

Digital

Realty

Trust,

Inc.

REIT

135,312

265

Equinix,

Inc.

REIT

202,190

951

Equity

Residential

REIT

61,844

188

Essex

Property

Trust,

Inc.

REIT

48,840

591

Extra

Space

Storage,

Inc.

REIT

85,559

214

Federal

Realty

Investment

Trust

REIT

21,603

2,103

Healthpeak

Properties,

Inc.

REIT

41,850

2,087

Host

Hotels

&

Resorts,

Inc.

REIT

37,441

1,582

Invitation

Homes,

Inc.

REIT

55,038

827

Iron

Mountain,

Inc.

REIT

66,731

2,014

Kimco

Realty

Corp.

REIT

38,991

332

Mid-America

Apartment

Communities,

Inc.

REIT

44,392

2,622

Prologis,

Inc.

REIT

289,705

446

Public

Storage

REIT

122,128

2,390

Realty

Income

Corp.

REIT

126,813

401

Regency

Centers

Corp.

REIT

24,621

309

SBA

Communications

Corp.

REIT

60,774

924

Simon

Property

Group,

Inc.

REIT

139,810

847

UDR,

Inc.

REIT

32,711

1,148

Ventas,

Inc.

REIT

57,698

2,967

VICI

Properties,

Inc.

REIT

85,183

1,539

Welltower,

Inc.

REIT

159,548

Shares

Description

Value

aa

Common

Stocks

–

(continued)

Real

Estate

–

(continued)

1,995

Weyerhaeuser

Co.

REIT

$

59,910

2,730,338

Utilities

–

2.5%

2,002

AES

Corp.

(The)

43,223

717

Alliant

Energy

Corp.

36,918

728

Ameren

Corp.

53,413

1,490

American

Electric

Power

Co.,

Inc.

134,473

532

American

Water

Works

Co.,

Inc.

69,570

376

Atmos

Energy

Corp.

43,586

1,807

CenterPoint

Energy,

Inc.

55,132

856

CMS

Energy

Corp.

53,868

971

Consolidated

Edison,

Inc.

91,808

917

Constellation

Energy

Corp.

199,218

2,380

Dominion

Energy,

Inc.

128,330

568

DTE

Energy

Co.

66,189

2,185

Duke

Energy

Corp.

226,300

1,070

Edison

International

82,230

615

Entergy

Corp.

69,181

651

Evergy,

Inc.

35,584

971

Eversource

Energy

57,512

2,864

Exelon

Corp.

107,543

1,425

FirstEnergy

Corp.

57,371

5,802

NextEra

Energy,

Inc.

464,276

1,123

NiSource,

Inc.

32,634

651

NRG

Energy,

Inc.

52,731

6,170

PG&E

Corp.

114,392

290

Pinnacle

West

Capital

Corp.

22,869

2,036

PPL

Corp.

59,716

1,397

Public

Service

Enterprise

Group,

Inc.

105,837

1,779

Sempra

137,036

3,116

Southern

Co.

(The)

249,716

973

Vistra

Corp.

96,405

862

WEC

Energy

Group,

Inc.

69,848

1,551

Xcel

Energy,

Inc.

86,003

3,102,912

TOTAL

COMMON

STOCKS

(Cost

$118,501,137)

124,852,277

a

Exchange-Traded

Funds

–

0.4%

668

iShares

Core

S&P

500

ETF

354,013

275

Vanguard

S&P

500

ETF

133,271

TOTAL

EXCHANGE-TRADED

FUNDS

(Cost

$468,742)

487,284

Goldman

Sachs

S&P

500

Core

Premium

Income

ETF

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Additional

Investment

Information 

**End

swaps

header**

Shares

Dividend

Rate

Value

aa

Investment

Company

–

0.7%

(a)

Goldman

Sachs

Financial

Square

Treasury

Obligations

Fund

–

Institutional

Shares

849,622

5.180%

$

849,622

(Cost

$849,622)

TOTAL

INVESTMENTS

–

101.2%

(Cost

$119,819,501)

$

126,189,183

LIABILITIES

IN

EXCESS

OF

OTHER

ASSETS

–

(1.2)%

(1,507,017)

NET

ASSETS

–

100.0%

$

124,682,166

  a

  a

The

percentage

shown

for

each

investment

category

reflects

the

value

of

investments

in

that

category

as

a

percentage

of

net

assets.

*

Non-income

producing

security.

(a)

Represents

an

affiliated

issuer.

Investment

Abbreviations:

PLC

—

Public

Limited

Company

REIT

—

Real

Estate

Investment

Trust

WRITTEN

OPTIONS

CONTRACTS

—

At

May

31,

2024,

the

Fund

had

the

following

written

option

contracts:

EXCHANGE

TRADED

OPTIONS

ON

EQUITY

CONTRACTS

Description

Exercise

Rate

Expiration

Date

Number

of

Contracts

Notional

Amount

Market

Value

Premiums

Paid

(Received)

by

the

Fund

Unrealized

Appreciation/

(Depreciation)

Written

Option

Contracts:

Calls

SPDR

S&P

500

ETF

Trust

$

521.00

07/01/2024

781

$

(40,690)

$

(792,515)

$

(557,439)

$

(235,076)

SPDR

S&P

500

ETF

Trust

530.00

06/24/2024

33

(1,749)

(14,520)

(18,109)

3,589

SPDR

S&P

500

ETF

Trust

529.00

06/14/2024

50

(2,645)

(25,448)

(39,938)

14,489

SPDR

S&P

500

ETF

Trust

520.00

06/10/2024

83

(4,316)

(80,189)

(61,897)

(18,292)

SPDR

S&P

500

ETF

Trust

515.00

06/10/2024

44

(2,266)

(62,979)

(39,061)

(23,918)

Total

written

option

contracts

991

$

(51,666)

$

(975,651)

$

(716,444)

$

(259,208)

Goldman

Sachs

Core

Premium

Income

ETFs

Schedule

of

Investments

May

31,

2024

(Unaudited)

NOTES

TO

THE

SCHEDULE

OF

INVESTMENTS

Investment

Valuation

—

The

Funds’

valuation

policy

is

to

value

investments

at

fair

value.

Investments

and

Fair

Value

Measurements

—

U.S.

GAAP

defines

the

fair

value

of

a

financial

instrument

as

the

amount

that

would

be

received

to

sell

an

asset

or

paid

to

transfer

a

liability

in

an

orderly

transaction

between

market

participants

at

the

measurement

date

(i.e.,

the

exit

price);

the

Funds’

policy

is

to

use

the

market

approach.

GAAP

establishes

a

fair

value

hierarchy

that

prioritizes

the

inputs

to

valuation

techniques

used

to

measure

fair

value.

The

hierarchy

gives

the

highest

priority

to

unadjusted

quoted

prices

in

active

markets

for

identical

assets

or

liabilities

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements).

The

level

in

the

fair

value

hierarchy

within

which

the

fair

value

measurement

in

its

entirety

falls

shall

be

determined

based

on

the

lowest

level

input

that

is

significant

to

the

fair

value

measurement

in

its

entirety.

The

levels

used

for

classifying

investments

are

not

necessarily

an

indication

of

the

risk

associated

with

investing

in

these

investments.

The

three

levels

of

the

fair

value

hierarchy

are

described

below:

Level

1

—

Unadjusted

quoted

prices

in

active

markets

that

are

accessible

at

the

measurement

date

for

identical,

unrestricted

assets

or

liabilities;

Level

2

—

Quoted

prices

in

markets

that

are

not

active

or

financial

instruments

for

which

significant

inputs

are

observable

(including,

but

not

limited

to,

quoted

prices

for

similar

investments,

interest

rates,

foreign

exchange

rates,

volatility

and

credit

spreads),

either

directly

or

indirectly;

Level

3

—

Prices

or

valuations

that

require

significant

unobservable

inputs

(including

GSAM’s

assumptions

in

determining

fair

value

measurement).

The

Board

of

Trustees

(“Trustees”)

has

approved

Valuation

Procedures

that

govern

the

valuation

of

the

portfolio

investments

held

by

the

Funds,

including

investments

for

which

market

quotations

are

not

readily

available.

With

respect

to

the

Funds’

investments

that

do

not

have

readily

available

market

quotations,

the

Trustees

have

designated

the

Adviser

as

the

valuation

designee

to

perform

fair

valuations

pursuant

to

Rule

2a-5

under

the

Investment

Company

Act

of

1940

(the

“Valuation

Designee”).

GSAM

has

day-to-day

responsibility

for

implementing

and

maintaining

internal

controls

and

procedures

related

to

the

valuation

of

the

Funds’

investments.

To

assess

the

continuing

appropriateness

of

pricing

sources

and

methodologies,

GSAM

regularly

performs

price

verification

procedures

and

issues

challenges

as

necessary

to

third

party

pricing

vendors

or

brokers,

and

any

differences

are

reviewed

in

accordance

with

the

Valuation

Procedures.

A.

Level

1

and

Level

2

Fair

Value

Investments

—

The

valuation

techniques

and

significant

inputs

used

in

determining

the

fair

values

for

investments

classified

as

Level

1

and

Level

2

are

as

follows:

Equity

Securities

—

Equity

securities

traded

on

a

United

States

(“U.S.”)

securities

exchange

or

the

NASDAQ

system,

or

those

located

on

certain

foreign

exchanges,

including

but

not

limited

to

the

Americas,

are

valued

daily

at

their

last

sale

price

or

official

closing

price

on

the

principal

exchange

or

system

on

which

they

are

traded.

If

there

is

no

sale

or

official

closing

price

or

such

price

is

believed

by

GSAM

to

not

represent

fair

value,

equity

securities

will

be

valued

at

the

valid

closing

bid

price

for

long

positions

and

at

the

valid

closing

ask

price

for

short

positions

(i.e.

where

there

is

sufficient

volume,

during

normal

exchange

trading

hours).

If

no

valid

bid/ask

price

is

available,

the

equity

security

will

be

valued

pursuant

to

the

Valuation

Procedures

and

consistent

with

applicable

regulatory

guidance.

To

the

extent

these

investments

are

actively

traded,

they

are

classified

as

Level

1

of

the

fair

value

hierarchy,

otherwise

they

are

generally

classified

as

Level

2.

Certain

equity

securities

containing

unique

attributes

may

be

classified

as

Level

2.

Unlisted

equity

securities

for

which

market

quotations

are

available

are

valued

at

the

last

sale

price

on

the

valuation

date,

or

if

no

sale

occurs,

at

the

last

bid

price

for

long

positions

or

the

last

ask

price

for

short

positions,

and

are

generally

classified

as

Level

2.

Goldman

Sachs

Core

Premium

Income

ETFs

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Derivative

Contracts

—

A

derivative

is

an

instrument

whose

value

is

derived

from

underlying

assets,

indices,

reference

rates

or

a

combination

of

these

factors.

A

Fund

enters

into

derivative

transactions

to

hedge

against

changes

in

interest

rates,

securities

prices,

and/or

currency

exchange

rates,

to

increase

total

return,

or

to

gain

access

to

certain

markets

or

attain

exposure

to

other

underliers.

For

financial

reporting

purposes,

cash

collateral

that

has

been

pledged

to

cover

obligations

of

a

Fund

and

cash

collateral

received,

if

any,

is

reported

separately

on

the

Statement

of

Assets

and

Liabilities

as

either

due

to

broker/receivable

for

collateral

on

certain

derivative

contracts.

Non-cash

collateral

pledged

by

a

Fund,

if

any,

is

noted

in

the

Schedule

of

Investments.

Exchange-traded

derivatives,

including

futures

and

options

contracts,

are

generally

valued

at

the

last

sale

or

settlement

price

on

the

exchange

where

they

are

principally

traded.

Exchange-traded

options

without

settlement

prices

are

generally

valued

at

the

last

bid

price

for

long

positions

and

the

last

ask

price

for

short

positions

on

the

exchange

where

they

are

principally

traded.

Exchange

traded

derivatives

typically

fall

within

Level

1

of

the

fair

value

hierarchy.

i.

Options

—

When

a

Fund

writes

call

or

put

options,

an

amount

equal

to

the

premium

received

is

recorded

as

a

liability

and

is

subsequently

marked-to-market

to

reflect

the

current

value

of

the

option

written.

Swaptions

are

options

on

swap

contracts.

Upon

the

purchase

of

a

call

option

or

a

put

option

by

a

Fund,

the

premium

paid

is

recorded

as

an

investment

and

subsequently

marked-to-market

to

reflect

the

current

value

of

the

option.

Certain

options

may

be

purchased

with

premiums

to

be

determined

on

a

future

date.

The

premiums

for

these

options

are

based

upon

implied

volatility

parameters

at

specified

terms.

Money

Market

Funds

—

Investments

in

the

Goldman

Sachs

Financial

Square

Treasury

Obligations

Fund

(“Underlying

Money

Market

Fund”)

are

valued

at

the

NAV

per

share

of

the

Institutional

Share

class

on

the

day

of

valuation.

These

investments

are

generally

classified

as

Level

1

of

the

fair

value

hierarchy.

For

information

regarding

the

Underlying

Money

Market

Fund’s

accounting

policies

and

investment

holdings,

please

see

the

Underlying

Money

Market

Fund’s

shareholder

report.

B.

Level

3

Fair

Value

Investments

—

To

the

extent

that

significant

inputs

to

valuation

models

and

other

alternative

pricing

sources

are

unobservable,

or

if

quotations

are

not

readily

available,

or

if

GSAM

believes

that

such

quotations

do

not

accurately

reflect

fair

value,

the

fair

value

of

a

Fund’s

investments

may

be

determined

under

the

Valuation

Procedures.

GSAM,

consistent

with

its

procedures

and

applicable

regulatory

guidance,

may

make

an

adjustment

to

the

most

recent

valuation

prices

of

either

domestic

or

foreign

securities

in

light

of

significant

events

to

reflect

what

it

believes

to

be

the

fair

value

of

the

securities

at

the

time

of

determining

a

Fund’s

NAV.

To

the

extent

investments

are

valued

using

single

source

broker

quotations

obtained

directly

from

the

broker

or

passed

through

from

third

party

pricing

vendors,

such

investments

are

classified

as

Level

3

investments.

C.

Fair

Value

Hierarchy

—

The

following

is

a

summary

of

the

Funds’

investments

classified

in

the

fair

value

hierarchy

as

of

May

31,

2024:

Nasdaq-100

Core

Premium

Income

ETF

Investment

Type

Level

1

Level

2

Level

3

Assets

Common

Stock

and/or

Other

Equity

Investments

(a)

Asia

$

1,028,229

$

—

$

—

Europe

985,601

—

—

North

America

82,715,790

—

—

South

America

531,479

—

—

Exchange-Traded

Fund

746,454

—

—

Investment

Company

209,188

—

—

Total

$

86,216,741

$

—

$

—

€

1.00

€

1.00

€

1.00

Derivative

Type

Liabilities

Written

Options

Contracts

$

(877,849)

$

—

$

—

NOTES

TO

THE

SCHEDULE

OF

INVESTMENTS

(continued)

Goldman

Sachs

Core

Premium

Income

ETFs

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

For

further

information

regarding

security

characteristics,

see

the

Schedules

of

Investments.

D.

Securities

Lending

—

The

Funds

may

lend

their

securities

through

a

securities

lending

agent,

the

Bank

of

New

York

Mellon

(“BNYM”),

to

certain

qualified

borrowers.

In

accordance

with

the

Funds’

securities

lending

procedures,

the

Funds

receive

cash

collateral

at

least

equal

to

the

market

value

of

the

securities

on

loan.

The

market

value

of

the

loaned

securities

is

determined

at

the

close

of

business

of

the

Funds,

at

their

last

sale

price

or

official

closing

price

on

the

principal

exchange

or

system

on

which

they

are

traded,

and

any

additional

required

collateral

is

delivered

to

the

Funds

on

the

next

business

day.

As

with

other

extensions

of

credit,

the

Funds

may

experience

delay

in

the

recovery

of

their

securities

or

incur

a

loss

should

the

borrower

of

the

securities

breach

its

agreement

with

the

Funds

or

become

insolvent

at

a

time

when

the

collateral

is

insufficient

to

cover

the

cost

of

repurchasing

securities

on

loan.

Dividend

income

received

from

securities

on

loan

may

not

be

subject

to

withholding

taxes

and

therefore

withholding

taxes

paid

may

differ

from

the

amounts

listed

in

the

Statements

of

Operations.

Loans

of

securities

are

terminable

at

any

time

and

as

such

1)

the

remaining

contractual

maturities

of

the

outstanding

securities

lending

transactions

are

considered

to

be

overnight

and

continuous

and

2)

the

borrower,

after

notice,

is

required

to

return

borrowed

securities

within

the

standard

time

period

for

settlement

of

securities

transactions.

The

Funds

invest

the

cash

collateral

received

in

connection

with

securities

lending

transactions

in

the

Goldman

Sachs

Financial

Square

Government

Fund

(“Government

Money

Market

Fund”),

an

affiliated

series

of

the

Goldman

Sachs

Trust.

The

Government

Money

Market

Fund

is

registered

under

the

Act

as

an

open

end

investment

company,

is

subject

to

Rule

2a-7

under

the

Act,

and

is

managed

by

GSAM,

for

which

GSAM

may

receive

a

management

fee

of

up

to

0.16%

on

an

annualized

basis

of

the

average

daily

net

assets

of

the

Government

Money

Market

Fund.

In

the

event

of

a

default

by

a

borrower

with

respect

to

any

loan,

BNYM

may

exercise

any

and

all

remedies

provided

under

the

applicable

borrower

agreement

to

make

the

Funds

whole.

These

remedies

include

purchasing

replacement

securities

by

applying

the

collateral

held

from

the

defaulting

broker

against

the

purchase

cost

of

the

replacement

securities.

If

BNYM

is

unable

to

purchase

replacement

securities,

BNYM

will

indemnify

the

Funds

by

paying

the

Funds

an

amount

equal

to

the

market

value

of

the

securities

loaned

minus

the

value

of

cash

collateral

received

from

the

borrower

for

the

loan,

subject

to

an

exclusion

for

any

shortfalls

resulting

from

a

loss

of

value

in

such

cash

collateral

due

to

reinvestment

risk.

The

Funds’

master

netting

agreements

with

certain

borrowers

€

1.00

€

1.00

€

1.00

S&P

500

Core

Premium

Income

ETF

Investment

Type

Level

1

Level

2

Level

3

Assets

Common

Stock

and/or

Other

Equity

Investments

(a)

Asia

$

200,266

$

—

$

—

North

America

124,652,011

—

—

Exchange-Traded

Funds

487,284

—

—

Investment

Company

849,622

—

—

Total

$

126,189,183

$

—

$

—

€

1.00

€

1.00

€

1.00

Derivative

Type

Liabilities

Written

Options

Contracts

$

(975,651)

$

—

$

—

€

1.00

€

1.00

€

1.00

(a)

Amounts

are

disclosed

by

continent

to

highlight

the

impact

of

time

zone

differences

between

local

market

close

and

the

calculation

of

NAV.

Security

valuations

are

based

on

the

principal

exchange

or

system

on

which

they

are

traded,

which

may

differ

from

country

of

domicile

noted

in

table.

NOTES

TO

THE

SCHEDULE

OF

INVESTMENTS

(continued)

Goldman

Sachs

Core

Premium

Income

ETFs

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

provide

the

right,

in

the

event

of

a

default

(including

bankruptcy

or

insolvency),

for

the

non-defaulting

party

to

liquidate

the

collateral

and

calculate

net

exposure

to

the

defaulting

party

or

request

additional

collateral.

However,

in

the

event

of

a

default

by

a

borrower,

a

resolution

authority

could

determine

that

such

rights

are

not

enforceable

due

to

the

restrictions

or

prohibitions

against

the

right

of

set-off

that

may

be

imposed

in

accordance

with

a

particular

jurisdiction’s

bankruptcy

or

insolvency

laws.

The

Funds’

loaned

securities

were

all

subject

to

enforceable

Securities

Lending

Agreements,

and

the

value

of

the

collateral

was

at

least

equal

to

the

value

of

the

cash

received.

The

Funds’

risks

include,

but

are

not

limited

to,

the

following:

Industry

Concentration

Risk

—

Concentrating

Fund

investments

in

a

limited

number

of

issuers

conducting

business

in

the

same

industry

or

group

of

industries

will

subject

the

Fund

to

a

greater

risk

of

loss

as

a

result

of

adverse

economic,

business,

political,

environmental

or

other

developments

than

if

its

investments

were

diversified

across

different

industries.

Large

Shareholder

Transactions

Risk

—

Certain

shareholders,

including

other

funds

advised

by

the

Investment

Adviser,

may

from

time

to

time

own

a

substantial

amount

of

the

Fund’s

Shares.

In

addition,

a

third

party

investor,

the

Investment

Adviser

or

an

affiliate

of

the

Investment

Adviser,

an

authorized

participant,

a

lead

market

maker,

or

another

entity

(i.e.,

a

seed

investor)

may

invest

in

the

Fund

and

hold

its

investment

solely

to

facilitate

commencement

of

the

Fund

or

to

facilitate

the

Fund’s

achieving

a

specified

size

or

scale.

Any

such

investment

may

be

held

for

a

limited

period

of

time.

There

can

be

no

assurance

that

any

large

shareholder

would

not

redeem

its

investment,

that

the

size

of

the

Fund

would

be

maintained

at

such

levels

or

that

the

Fund

would

continue

to

meet

applicable

listing

requirements.

Redemptions

by

large

shareholders

could

have

a

significant

negative

impact

on

the

Fund,

including

on

the

Fund’s

liquidity.

In

addition,

transactions

by

large

shareholders

may

account

for

a

large

percentage

of

the

trading

volume

on

NASDAQ

and

may,

therefore,

have

a

material

upward

or

downward

effect

on

the

market

price

of

the

Shares.

Market

Risk

—

The

value

of

the

securities

in

which

the

Fund

invests

may

go

up

or

down

in

response

to

the

prospects

of

individual

companies,

particular

sectors

or

governments

and/or

general

economic

conditions

throughout

the

world

due

to

increasingly

interconnected

global

economies

and

financial

markets.

Events

such

as

war,

military

conflict,

acts

of

terrorism,

social

unrest,

natural

disasters,

recessions,

inflation,

rapid

interest

rate

changes,

supply

chain

disruptions,

sanctions,

the

spread

of

infectious

illness

or

other

public

health

threats

could

also

significantly

impact

the

Fund

and

its

investments.

Market

Trading

Risk

—

Each

Fund

faces

numerous

market

trading

risks,

including

disruptions

to

creations

and

redemptions,

the

existence

of

extreme

market

volatility

or

potential

lack

of

an

active

trading

market

for

Shares.

If

a

shareholder

purchases

Shares

at

a

time

when

the

market

price

is

at

a

premium

to

the

NAV

or

sells

Shares

at

a

time

when

the

market

price

is

at

a

discount

to

the

NAV,

the

shareholder

may

pay

more

for,

or

receive

less

than,

the

underlying

value

of

the

Shares,

respectively.

The

Investment

Adviser

cannot

predict

whether

Shares

will

trade

below,

at

or

above

their

NAV.

Price

differences

may

be

due,

in

large

part,

to

the

fact

that

supply

and

demand

forces

at

work

in

the

secondary

trading

market

for

Shares

will

be

closely

related

to,

but

not

identical

to,

the

same

forces

influencing

the

prices

of

the

securities

of

a

Fund’s

Index

trading

individually

or

in

the

aggregate

at

any

point

in

time.

Non-Diversification

Risk

—

The

Nasdaq-100

Core

Premium

Income

ETF

is

non-diversified,

meaning

that

it

is

permitted

to

invest

a

larger

percentage

of

its

assets

in

one

or

more

issuers

or

in

fewer

issuers

than

diversified

mutual

funds.

Thus,

a

Fund

may

be

more

susceptible

to

adverse

developments

affecting

any

single

issuer

held

in

its

portfolio,

and

may

be

more

susceptible

to

greater

losses

because

of

these

developments.

Option

Writing

Risk

—

Writing

(selling)

options

may

limit

the

opportunity

to

profit

from

an

increase

or

decrease

in

the

market

value

of

a

reference

security

in

exchange

for

up-front

cash

(the

premium)

at

the

time

of

selling

the

option.

In

a

sharp

rising

or

falling

market,

the

Fund

could

significantly

underperform

the

market

or

other

portfolios

without

an

option

writing

strategy.

The

Fund

could

also

experience

a

sudden,

significant

permanent

loss

due

to

dramatic

movements

in

the

market

value

of

reference

security,

which

may

far

exceed

the

premiums

received

for

writing

the

option.

Such

significant

losses

could

cause

significant

deteriorations

in

the

Fund’s

NAV.

Furthermore,

the

premium

received

from

the

Fund’s

option

writing

strategies

may

not

fully

protect

it

against

market

movements

because

the

Fund

will

continue

to

bear

the

risk

of

movements

in

the

value

of

its

portfolio

investments.

NOTES

TO

THE

SCHEDULE

OF

INVESTMENTS

(continued)

Goldman

Sachs

Core

Premium

Income

ETFs

Schedule

of

Investments

(continued)

May

31,

2024

(Unaudited)

Tracking

Error/Index

Risk

—

Tracking

error

is

the

divergence

of

the

Fund’s

performance

(without

regard

to

the

options

overwrite

strategy)

from

that

of

the

benchmark.

The

performance

of

the

Fund’s

equity

investments

may

diverge

from

that

of

the

benchmark

for

a

number

of

reasons.

Tracking

error

may

occur

because

of

transaction

costs,

the

Fund’s

holding

of

cash,

differences

in

accrual

of

dividends,

changes

to

the

benchmark

or

the

need

to

meet

new

or

existing

regulatory

requirements.

Unlike

the

Fund,

the

returns

of

the

benchmark

are

not

reduced

by

investment

and

other

operating

expenses,

including

the

trading

costs

associated

with

implementing

changes

to

its

portfolio

of

investments.

Tracking

error

risk

may

be

heightened

during

times

of

market

volatility

or

other

unusual

market

conditions.

The

Fund

will

be

negatively

affected

by

general

declines

in

the

securities

and

asset

classes

represented

in

the

benchmark.

In

addition,

unless

a

specific

security

is

removed

from

the

benchmark,

the

Fund

generally

would

not

sell

a

security

because

the

security’s

issuer

was

in

financial

trouble.

NOTES

TO

THE

SCHEDULE

OF

INVESTMENTS

(continued)