-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, OsW+SmVMBe46lfBXMHWwqJPhUTbW2E1V2abp6OLBQWbCAMOiJXaMsigVODGyK6te thlvbGqVc43+y9I8SfFoEQ== 0000950123-08-000893.txt : 20080129 0000950123-08-000893.hdr.sgml : 20080129 20080129161420 ACCESSION NUMBER: 0000950123-08-000893 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20071130 FILED AS OF DATE: 20080129 DATE AS OF CHANGE: 20080129 EFFECTIVENESS DATE: 20080129 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GOLDMAN SACHS TRUST CENTRAL INDEX KEY: 0000822977 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-05349 FILM NUMBER: 08558138 BUSINESS ADDRESS: STREET 1: 4900 SEARS TWR STREET 2: C/O GOLDMAN SACHS & CO CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 3126554400 MAIL ADDRESS: STREET 1: 85 BROAD ST STREET 2: 85 BROARD STREET CITY: NEW YORK STATE: NY ZIP: 10004 FORMER COMPANY: FORMER CONFORMED NAME: GOLDMAN SACHS SHORT INTERMEDIATE GOVERNMENT FUND DATE OF NAME CHANGE: 19910711 FORMER COMPANY: FORMER CONFORMED NAME: SHORT INTERMEDIATE GOVERNMENT FUND DATE OF NAME CHANGE: 19900104 0000822977 S000009315 Goldman Sachs Capital Growth Fund C000025452 Goldman Sachs Capital Growth Fund C000025453 Institutional GSPIX C000025454 Service GSPSX C000025455 Class A GSCGX C000025456 Class B GSCBX C000025457 Class C GSPCX C000055743 Class R C000055744 Class IR 0000822977 S000009318 Goldman Sachs Strategic Growth Fund C000025470 Goldman Sachs Strategic Growth Fund C000025471 Institutional GSTIX C000025472 Service GSTSX C000025473 Class A GGRAX C000025474 Class B GSWBX C000025475 Class C GGRCX C000055749 Class R C000055750 Class IR 0000822977 S000009319 Goldman Sachs Concentrated Growth Fund C000025476 Goldman Sachs Concentrated Growth Fund C000025477 Institutional GCRIX C000025478 Service GCGSX C000025479 Class A GCGAX C000025480 Class B GCGBX C000025481 Class C GCGCX C000058381 Class R C000058382 Class IR 0000822977 S000009321 Goldman Sachs Growth Opportunities Fund C000025488 Goldman Sachs Growth Opportunities Fund C000025489 Institutional GGOIX C000025490 Service GGOSX C000025491 Class A GGOAX C000025492 Class B GGOBX C000025493 Class C GGOCX C000055753 Class R C000055754 Class IR 0000822977 S000009322 Goldman Sachs Small/Mid Cap Growth Fund C000025494 Goldman Sachs Small/Mid Cap Growth Fund C000025495 Institutional GSMYX C000025496 Service GSMQX C000025497 Class A GSMAX C000025498 Class B GSMDX C000025499 Class C GSMGX C000055755 Class R C000055756 Class IR N-Q 1 e45149nvq.htm FORM N-Q N-Q
 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

     
Investment Company Act file number
  
811-05349
   

Goldman Sachs Trust

(Exact name of registrant as specified in charter)

71 S. Wacker Dr., Chicago, Illinois 60606

(Address of principal executive offices)                                                             (Zip code)
     
Peter V. Bonanno, Esq.
Goldman, Sachs & Co.
One New York Plaza
New York, New York 10004		   Copies to:
Jack W. Murphy, Esq.
Dechert LLP
1775 I Street, NW
Washington, DC 20006
(Name and address of agent for service)
     
Registrant’s telephone number, including area code:
  
(312) 655-4400
   
     
Date of fiscal year end:
  
       August 31,
   
     
Date of reporting period:
  
November 30, 2007
   

Item 1. Schedule of Investments.

 

 

GOLDMAN SACHS CAPITAL GROWTH FUND
Schedule of Investments
November 30, 2007 (Unaudited)

                 
Shares     Description   Value  
Common Stocks — 99.5%
Aerospace & Defense — 1.8%
  433,381    
United Technologies Corp.
   $ 32,403,897  
 
Auto Components — 0.7%
  680,540    
Gentex Corp.
     13,488,303  
 
Beverages — 2.3%
  555,250    
PepsiCo., Inc.
     42,854,195  
 
Biotechnology — 4.2%
  466,640    
Amylin Pharmaceuticals, Inc.*(a)
     17,820,982  
  184,052    
Celgene Corp.*
     11,328,401  
  329,098    
Genentech, Inc.*
     25,093,722  
  472,135    
Gilead Sciences, Inc.*(a)
     21,973,163  
     
    76,216,268  
 
Capital Markets — 4.1%
  140,000    
Legg Mason, Inc.
     10,683,400  
  457,141    
Morgan Stanley(a)
     24,100,474  
  1,626,100    
The Charles Schwab Corp.
     39,530,491  
     
    74,314,365  
 
Communications Equipment — 7.2%
  1,997,575    
Cisco Systems, Inc.*
     55,972,052  
  1,008,190    
QUALCOMM, Inc.
     41,113,988  
  301,732    
Research In Motion Ltd.*
     34,343,136  
     
    131,429,176  
 
Computers & Peripherals — 2.9%
  193,570    
Apple, Inc.*
     35,272,325  
  177,800    
International Business Machines Corp.
     18,701,004  
     
    53,973,329  
 
Consumer Finance — 1.5%
  245,330    
American Express Co.
     14,469,564  
  714,920    
Discover Financial Services(a)
     12,418,160  
     
    26,887,724  
 
Diversified Financial Services — 1.4%
  16,900    
CME Group, Inc.(a)
     11,130,340  
  390,731    
Moody’s Corp.
     14,714,929  
     
    25,845,269  
 
Electrical Equipment — 0.8%
  210,377    
Rockwell Automation, Inc.
     14,282,495  
 
Energy Equipment & Services — 8.3%
  612,710    
Baker Hughes, Inc.
     49,182,232  
  359,400    
Grant Prideco, Inc.*
     17,287,140  
  427,148    
Schlumberger Ltd.
     39,916,980  
  716,658    
Weatherford International Ltd.*
     44,877,124  
     
    151,263,476  
 
                 
Shares     Description   Value  
Common Stocks — (continued)
Food & Staples Retailing — 2.5%
  398,900    
Costco Wholesale Corp.(a)
   $ 26,885,860  
  482,000    
CVS Caremark Corp.(a)
     19,323,380  
     
    46,209,240  
 
Health Care Equipment & Supplies — 3.2%
  469,417    
Baxter International, Inc.
     28,103,996  
  754,949    
St. Jude Medical, Inc.*
     30,009,223  
     
    58,113,219  
 
Hotels, Restaurants & Leisure — 0.9%
  674,500    
Starbucks Corp.*(a)
     15,776,555  
 
Household Durables — 3.6%
  399,750    
Fortune Brands, Inc.
     30,640,837  
  126,351    
Harman International Industries, Inc.
     9,299,434  
  980,953    
Newell Rubbermaid, Inc.
     26,269,921  
     
    66,210,192  
 
Household Products — 1.0%
  247,300    
Procter & Gamble Co.
     18,300,200  
 
Internet Software & Services — 5.0%
  86,400    
Amazon.com, Inc.*(a)
     7,824,384  
  91,383    
Google, Inc.*
     63,328,419  
  762,689    
Yahoo!, Inc.*
     20,447,692  
     
    91,600,495  
 
IT Services — 5.1%
  429,180    
Cognizant Technology Solutions Corp.*
     13,347,498  
  269,458    
Fiserv, Inc.*
     13,831,279  
  249,538    
Global Payments, Inc.
     10,785,032  
  419,134    
Iron Mountain, Inc.*
     15,290,008  
  1,777,074    
Western Union Co.
     40,161,873  
     
    93,415,690  
 
Leisure Equipment & Products — 0.4%
  407,500    
Mattel, Inc.
     8,141,850  
 
Life Sciences Tools & Services — 2.6%
  307,824    
Charles River Laboratories International, Inc.*
     19,556,059  
  500,528    
Thermo Fisher Scientific, Inc.*
     28,850,434  
     
    48,406,493  
 
Media — 4.7%
  533,600    
Comcast Corp.*
     10,960,144  
  279,712    
Lamar Advertising Co.(a)
     14,547,821  
  460,176    
National CineMedia, Inc.
     12,737,672  
  606,302    
The McGraw-Hill Companies, Inc.(a)
     29,757,302  
  422,865    
Viacom, Inc. Class B*
     17,768,787  
     
    85,771,726  
 


 

 

GOLDMAN SACHS CAPITAL GROWTH FUND
Schedule of Investments (continued)
November 30, 2007 (Unaudited)

                 
Shares     Description   Value  
Common Stocks — (continued)
Multiline Retail — 0.6%
  239,247    
J.C. Penney Co., Inc.
   $ 10,555,578  
 
Oil, Gas & Consumable Fuels — 7.1%
  123,570    
Canadian Natural Resources Ltd.
     8,090,128  
  435,000    
Occidental Petroleum Corp.
     30,349,950  
  448,061    
Quicksilver Resources, Inc.*(a)
     22,671,887  
  711,610    
Suncor Energy, Inc.
     68,143,773  
     
    129,255,738  
 
Pharmaceuticals — 3.9%
  378,200    
Johnson & Johnson
     25,619,268  
  624,300    
Merck & Co., Inc.
     37,058,448  
  205,400    
Teva Pharmaceutical Industries Ltd. ADR
     9,167,002  
     
    71,844,718  
 
Real Estate Management & Development — 1.3%
  1,017,940    
CB Richard Ellis Group, Inc.*
     24,176,075  
 
Semiconductors & Semiconductor Equipment — 3.0%
  1,094,300    
Intel Corp.
     28,539,344  
  891,448    
Linear Technology Corp.(a)
     27,153,506  
     
    55,692,850  
 
Software — 6.8%
  985,810    
Activision, Inc.*
     21,835,691  
  577,205    
Electronic Arts, Inc.*
     32,433,149  
  2,120,193    
Microsoft Corp.
     71,238,485  
     
    125,507,325  
 
Specialty Retail — 3.1%
  1,250,300    
Lowe’s Companies, Inc.
     30,519,823  
  688,500    
The Home Depot, Inc.(a)
     19,663,560  
  253,200    
Williams-Sonoma, Inc.(a)
     7,370,652  
     
    57,554,035  
 
Textiles, Apparel & Luxury Goods — 0.8%
  407,800    
Coach, Inc.*
     15,145,692  
 
Thrifts & Mortgage Finance — 2.0%
  1,053,200    
Freddie Mac(a)
     36,935,724  
 
Tobacco — 0.9%
  220,541    
Altria Group, Inc.
     17,105,160  
 
Trading Companies & Distributors — 0.9%
  178,170    
W.W. Grainger, Inc.
     15,732,411  
 
Wireless Telecommunication Services — 4.9%
  1,000,100    
American Tower Corp.*
     45,544,554  
  318,665    
Crown Castle International Corp.*
     13,367,997  
  781,750    
MetroPCS Communications, Inc.*(a)
     13,367,925  
                 
Shares     Description   Value  
Common Stocks — (continued)
Wireless Telecommunication Services — (continued)
  1,144,927    
Sprint Nextel Corp.
   $ 17,769,267  
     
    90,049,743  
 
TOTAL COMMON STOCKS   $ 1,824,459,206  
 
                             
Principal     Interest   Maturity      
Amount     Rate   Date   Value  
Repurchase Agreement(b) — 0.2%
Joint Repurchase Agreement Account II
$
     4,000,000       4.625 %   12/03/07   $ 4,000,000  
Maturity Value: $4,001,542
 
TOTAL INVESTMENTS BEFORE SECURITIES LENDING COLLATERAL
   $ 1,828,459,206  
 
                             
            Interest          
Shares     Rate       Value  
Securities Lending Collateral(c) — 11.8%
Boston Global Investment Trust — Enhanced Portfolio
 
     216,037,525       4.866 %       $ 216,037,525  
 
TOTAL INVESTMENTS — 111.5%
   $ 2,044,496,731  
 
LIABILITIES IN EXCESS OF OTHER ASSETS — (11.5)%
   (210,696,689 )
 
NET ASSETS — 100.0%
   $ 1,833,800,042  
 
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) All or a portion of security is on loan.
(b) Joint repurchase agreement was entered into on November 30, 2007. Additional information appears in the Notes to the Schedule of Investments section.
(c) Variable rate security. Interest rate disclosed is that which is in effect at November 30, 2007.
For information on the mutual funds, please call our toll free Shareholder Services Line at 1-800-526-7384 or visit us on the web at www.goldmansachsfunds.com
     
 
Investment Abbreviation:
ADR
  — American Depositary Receipt
 


 

 

GOLDMAN SACHS CAPITAL GROWTH FUND
Schedule of Investments (continued)
November 30, 2007 (Unaudited)
ADDITIONAL INVESTMENT INFORMATION
TAX INFORMATION — At November 30, 2007, the Fund’s aggregate security unrealized gains and losses based on cost for U.S. federal income tax purposes were as follows:
         
 
Tax Cost
   $ 1,704,248,167  
 
Gross unrealized gain
     430,006,756  
Gross unrealized loss
     (89,758,192 )
 
Net unrealized security gain
   $ 340,248,564  
 
Additional information regarding the Fund is available in the Fund’s most recent Annual and Semiannual Reports to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).

 

GOLDMAN SACHS STRATEGIC GROWTH FUND
Schedule of Investments
November 30, 2007 (Unaudited)

                 
Shares     Description   Value  
Common Stocks — 97.5%
Aerospace & Defense — 1.3%
  63,090    
United Technologies Corp.
   $ 4,717,239  
 
Beverages — 2.6%
  119,550    
PepsiCo., Inc.
     9,226,869  
 
Biotechnology — 5.6%
  87,330    
Amylin Pharmaceuticals, Inc.*(a)
     3,335,133  
  93,470    
Celgene Corp.*
     5,753,078  
  64,770    
Genentech, Inc.*
     4,938,713  
  130,830    
Gilead Sciences, Inc.*
     6,088,828  
     
    20,115,752  
 
Capital Markets — 4.8%
  38,730    
Legg Mason, Inc.
     2,955,486  
  84,230    
Morgan Stanley
     4,440,606  
  400,990    
The Charles Schwab Corp.
     9,748,067  
     
    17,144,159  
 
Communications Equipment — 8.1%
  374,370    
Cisco Systems, Inc.*
     10,489,848  
  221,830    
QUALCOMM, Inc.
     9,046,227  
  82,300    
Research In Motion Ltd.*
     9,367,386  
     
    28,903,461  
 
Computers & Peripherals — 2.5%
  39,230    
Apple, Inc.*
     7,148,491  
  16,950    
International Business Machines Corp.
     1,782,801  
     
    8,931,292  
 
Consumer Finance — 2.3%
  77,790    
American Express Co.
     4,588,054  
  203,110    
Discover Financial Services
     3,528,021  
     
    8,116,075  
 
Diversified Financial Services — 1.2%
  6,510    
CME Group, Inc.
     4,287,486  
 
Energy Equipment & Services — 8.9%
  166,400    
Baker Hughes, Inc.
     13,356,928  
  109,630    
Schlumberger Ltd.
     10,244,923  
  130,180    
Weatherford International Ltd.*
     8,151,872  
     
    31,753,723  
 
Food & Staples Retailing — 2.7%
  42,730    
Costco Wholesale Corp.
     2,880,002  
  167,880    
CVS Caremark Corp.
     6,730,309  
     
    9,610,311  
 
Food Products — 1.2%
  51,870    
Kraft Foods, Inc.
     1,792,109  
  41,117    
Wm. Wrigley Jr. Co.
     2,631,488  
     
    4,423,597  
 
                 
Shares     Description   Value  
Common Stocks — (continued)
Health Care Equipment & Supplies — 4.5%
  106,470    
Baxter International, Inc.
   $ 6,374,359  
  244,000    
St. Jude Medical, Inc.*
     9,699,000  
     
    16,073,359  
 
Hotels, Restaurants & Leisure — 0.9%
  134,950    
Starbucks Corp.*(a)
     3,156,481  
 
Household Durables — 2.3%
  78,370    
Fortune Brands, Inc.
     6,007,060  
  84,170    
Newell Rubbermaid, Inc.
     2,254,073  
     
    8,261,133  
 
Household Products — 1.2%
  56,650    
Procter & Gamble Co.
     4,192,100  
 
Internet Software & Services — 5.3%
  21,320    
Google, Inc.*
     14,774,760  
  157,900    
Yahoo!, Inc.*
     4,233,299  
     
    19,008,059  
 
IT Services — 3.4%
  545,960    
Western Union Co.
     12,338,696  
 
Life Sciences Tools & Services — 2.2%
  139,460    
Thermo Fisher Scientific, Inc.*
     8,038,474  
 
Media — 4.2%
  105,310    
Comcast Corp.*
     2,163,067  
  36,090    
Lamar Advertising Co.(a)
     1,877,041  
  159,438    
The McGraw-Hill Companies, Inc.
     7,825,217  
  72,297    
Viacom, Inc. Class B*
     3,037,920  
     
    14,903,245  
 
Multiline Retail — 0.9%
  55,040    
Target Corp.
     3,305,702  
 
Oil, Gas & Consumable Fuels — 5.6%
  83,850    
Occidental Petroleum Corp.
     5,850,215  
  147,000    
Suncor Energy, Inc.
     14,076,720  
     
    19,926,935  
 
Pharmaceuticals — 4.3%
  81,660    
Johnson & Johnson
     5,531,648  
  168,980    
Merck & Co., Inc.
     10,030,653  
     
    15,562,301  
 
Semiconductors & Semiconductor Equipment — 2.9%
  235,620    
Intel Corp.
     6,144,969  
  137,130    
Linear Technology Corp.(a)
     4,176,980  
     
    10,321,949  
 
Software — 5.6%
  112,140    
Electronic Arts, Inc.*
     6,301,147  


 

 

GOLDMAN SACHS STRATEGIC GROWTH FUND
Schedule of Investments (continued)
November 30, 2007 (Unaudited)

                 
Shares     Description   Value  
Common Stocks — (continued)
Software — (continued)
  403,380    
Microsoft Corp.
   $ 13,553,568  
     
    19,854,715  
 
Specialty Retail — 4.0%
  277,900    
Lowe’s Companies, Inc.
     6,783,539  
  168,210    
The Home Depot, Inc.
     4,804,077  
  92,160    
Williams-Sonoma, Inc.
     2,682,778  
     
    14,270,394  
 
Thrifts & Mortgage Finance — 2.6%
  261,510    
Freddie Mac
     9,171,156  
 
Tobacco — 1.2%
  54,590    
Altria Group, Inc.
     4,234,000  
 
Wireless Telecommunication Services — 5.2%
  152,030    
American Tower Corp.*
     6,923,446  
  158,150    
Crown Castle International Corp.*
     6,634,393  
  321,270    
Sprint Nextel Corp.
     4,986,110  
     
    18,543,949  
 
TOTAL COMMON STOCKS   $ 348,392,612  
 
                             
Principal     Interest   Maturity      
Amount     Rate   Date   Value  
Repurchase Agreement(b) — 1.9%
Joint Repurchase Agreement Account II
$
     6,700,000       4.625 %   12/03/07   $ 6,700,000  
Maturity Value: $6,702,582
 
TOTAL INVESTMENTS BEFORE SECURITIES LENDING COLLATERAL
   $ 355,092,612  
 
                             
            Interest          
Shares     Rate       Value  
Securities Lending Collateral(c) — 3.3%
Boston Global Investment Trust — Enhanced Portfolio
 
     11,633,875       4.866 %       $ 11,633,875  
 
TOTAL INVESTMENTS — 102.7%
   $ 366,726,487  
 
LIABILITIES IN EXCESS OF OTHER ASSETS — (2.7)%
     (9,589,506 )
 
NET ASSETS — 100.0%
   $ 357,136,981  
 
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) All or a portion of security is on loan.
(b) Joint repurchase agreement was entered into on November 30, 2007. Additional information appears in the Notes to the Schedule of Investments section.
(c) Variable rate security. Interest rate disclosed is that which was in effect at November 30, 2007.
For information on the mutual funds, please call our toll free Shareholder Services Line at 1-800-526-7384 or visit us on the web at www.goldmansachsfunds.com.


 

 

GOLDMAN SACHS STRATEGIC GROWTH FUND
Schedule of Investments (continued)
November 30, 2007 (Unaudited)
ADDITIONAL INVESTMENT INFORMATION
TAX INFORMATION — At November 30, 2007, the Fund’s aggregate security unrealized gains and losses based on cost for U.S. federal income tax purposes were as follows:
         
 
Tax Cost
   $ 310,561,790  
 
Gross unrealized gain
     71,062,033  
Gross unrealized loss
     (14,897,336 )
 
Net unrealized security gain
   $ 56,164,697  
 
Additional information regarding the Fund is available in the Fund’s most recent Annual and Semiannual Reports to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).

 

GOLDMAN SACHS CONCENTRATED GROWTH FUND
Schedule of Investments
November 30, 2007 (Unaudited)

                 
Shares     Description   Value  
Common Stocks — 98.4%
Aerospace & Defense — 1.5%
  71,180    
United Technologies Corp.
   $ 5,322,129  
 
Beverages — 3.9%
  177,800    
PepsiCo., Inc.
     13,722,604  
 
Biotechnology — 4.8%
  209,200    
Amylin Pharmaceuticals, Inc.*(a)
     7,989,348  
  53,670    
Celgene Corp.*
     3,303,389  
  74,550    
Genentech, Inc.*
     5,684,437  
     
    16,977,174  
 
Capital Markets — 5.0%
  67,770    
Morgan Stanley
     3,572,834  
  584,770    
The Charles Schwab Corp.
     14,215,759  
     
    17,788,593  
 
Communications Equipment — 10.9%
  468,530    
Cisco Systems, Inc.*
     13,128,211  
  303,650    
QUALCOMM, Inc.
     12,382,847  
  114,960    
Research In Motion Ltd.*
     13,084,747  
     
    38,595,805  
 
Consumer Finance — 1.0%
  59,500    
American Express Co.
     3,509,310  
 
Diversified Financial Services — 1.0%
  5,340    
CME Group, Inc.
     3,516,924  
 
Energy Equipment & Services — 8.4%
  147,970    
Baker Hughes, Inc.
     11,877,552  
  84,730    
Schlumberger Ltd.
     7,918,018  
  160,160    
Weatherford International Ltd.*
     10,029,219  
     
    29,824,789  
 
Food & Staples Retailing — 4.1%
  59,980    
Costco Wholesale Corp.(a)
     4,042,652  
  263,300    
CVS Caremark Corp.
     10,555,697  
     
    14,598,349  
 
Health Care Equipment & Supplies — 3.6%
  318,090    
St. Jude Medical, Inc.*
     12,644,077  
 
Hotels, Restaurants & Leisure — 1.4%
  218,420    
Starbucks Corp.*(a)
     5,108,844  
 
Household Durables — 2.7%
  126,529    
Fortune Brands, Inc.
     9,698,448  
 
Internet Software & Services — 6.2%
  22,690    
Google, Inc.*
     15,724,170  
  228,690    
Yahoo!, Inc.*
     6,131,179  
     
    21,855,349  
 
IT Services — 4.7%
  731,690    
Western Union Co.
     16,536,194  
 
                 
Shares     Description   Value  
Common Stocks — (continued)
Life Sciences Tools & Services — 3.3%
  201,850    
Thermo Fisher Scientific, Inc.*
   $ 11,634,634  
 
Media — 5.0%
  214,180    
The McGraw-Hill Companies, Inc.
     10,511,954  
  170,105    
Viacom, Inc. Class B*
     7,147,812  
     
    17,659,766  
 
Oil, Gas & Consumable Fuels — 6.1%
  81,610    
Occidental Petroleum Corp.
     5,693,930  
  165,900    
Suncor Energy, Inc.
     15,886,584  
     
    21,580,514  
 
Pharmaceuticals — 2.8%
  170,090    
Merck & Co., Inc.
     10,096,542  
 
Software — 6.8%
  183,120    
Electronic Arts, Inc.*
     10,289,513  
  405,970    
Microsoft Corp.
     13,640,592  
     
    23,930,105  
 
Specialty Retail — 2.4%
  348,470    
Lowe’s Companies, Inc.
     8,506,153  
 
Textiles, Apparel & Luxury Goods — 2.2%
  205,290    
Coach, Inc.*
     7,624,471  
 
Thrifts & Mortgage Finance — 3.3%
  336,060    
Freddie Mac
     11,785,624  
 
Wireless Telecommunication Services — 7.3%
  285,260    
American Tower Corp.*
     12,990,741  
  157,120    
Crown Castle International Corp.*
     6,591,184  
  402,060    
Sprint Nextel Corp.
     6,239,971  
     
    25,821,896  
 
TOTAL COMMON STOCKS   $ 348,338,294  
 
                             
Principal     Interest   Maturity      
Amount     Rate   Date   Value  
Repurchase Agreement(b) — 2.8%
Joint Repurchase Agreement Account II
$
     10,000,000       4.625 %   12/03/07   $ 10,000,000  
Maturity Value: $10,003,854
 
TOTAL INVESTMENTS BEFORE SECURITIES LENDING COLLATERAL
   $ 358,338,294  
 


 

 

GOLDMAN SACHS CONCENTRATED GROWTH FUND
Schedule of Investments (continued)
November 30, 2007 (Unaudited)

                             
            Interest          
Shares     Rate       Value  
Securities Lending Collateral(c) — 4.0%
Boston Global Investment Trust — Enhanced Portfolio
 
     14,303,000       4.866 %       $ 14,303,000  
 
TOTAL INVESTMENTS — 105.2%
   $ 372,641,294  
 
LIABILITIES IN EXCESS OF OTHER ASSETS — (5.2)%
     (18,316,315 )
 
NET ASSETS — 100.0%
   $ 354,324,979  
 
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) All or a portion of security is on loan.
(b) Joint repurchase agreement was entered into on November 30, 2007. Additional information appears in the Notes to the Schedule of Investments section.
(c) Variable rate security. Interest rate disclosed is that which is in effect at November 30, 2007.
For information on the mutual funds, please call our toll free Shareholder Services Line at 1-800-526-7384 or visit us on the web at www.goldmansachsfunds.com


 

 

GOLDMAN SACHS CONCENTRATED GROWTH FUND
Schedule of Investments (continued)
November 30, 2007 (Unaudited)
ADDITIONAL INVESTMENT INFORMATION
TAX INFORMATION — At November 30, 2007, the Fund’s aggregate security unrealized gains and losses based on cost for U.S. federal income tax purposes were as follows:
         
 
Tax Cost
   $ 337,370,801  
 
Gross unrealized gain
     48,446,060  
Gross unrealized loss
     (13,175,567 )
 
Net unrealized security gain
   $ 35,270,493  
 
Additional information regarding the Fund is available in the Fund’s most recent Annual and Semiannual Reports to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).

 

GOLDMAN SACHS GROWTH OPPORTUNITIES FUND
Schedule of Investments
November 30, 2007 (Unaudited)

                 
Shares     Description   Value  
Common Stocks — 97.9%
Aerospace & Defense — 1.8%
  314,577    
Alliant Techsystems, Inc.*(a)
   $ 36,752,031  
 
Air Freight & Logistics — 1.1%
  421,300    
C.H. Robinson Worldwide, Inc.(a)
     21,718,015  
 
Auto Components — 2.1%
  2,207,190    
Gentex Corp.
     43,746,506  
 
Beverages — 0.4%
  174,600    
Hansen Natural Corp.*
     7,579,386  
 
Biotechnology — 2.2%
  1,159,379    
Amylin Pharmaceuticals, Inc.*(a)
     44,276,684  
 
Capital Markets — 3.0%
  248,279    
HFF, Inc.*
     1,695,746  
  372,353    
Legg Mason, Inc.
     28,414,257  
  982,652    
Raymond James Financial, Inc.
     31,916,537  
     
    62,026,540  
 
Commercial Banks — 0.5%
  213,874    
SVB Financial Group*(a)
     11,010,233  
 
Computers & Peripherals — 0.8%
  692,586    
Network Appliance, Inc.*
     17,113,800  
 
Consumer Finance — 1.5%
  1,787,795    
Discover Financial Services
     31,053,999  
 
Diversified Consumer Services — 0.5%
  214,216    
Weight Watchers International, Inc.(a)
     10,228,814  
 
Diversified Financial Services — 1.8%
  961,157    
Moody’s Corp.
     36,197,173  
 
Electrical Equipment — 2.2%
  33,986    
First Solar, Inc.*(a)
     8,059,780  
  231,365    
Rockwell Automation, Inc.
     15,707,370  
  343,719    
Roper Industries, Inc.
     21,808,970  
     
    45,576,120  
 
Electronic Equipment & Instruments — 2.7%
  980,702    
Amphenol Corp.
     42,513,432  
  1,093,144    
Cogent, Inc.*(a)
     12,133,898  
     
    54,647,330  
 
Energy Equipment & Services — 7.5%
  378,095    
Cameron International Corp.*
     35,249,797  
  658,361    
Grant Prideco, Inc.*
     31,667,164  
  693,755    
Smith International, Inc.
     43,512,313  
  707,951    
Weatherford International Ltd.*
     44,331,892  
     
    154,761,166  
 
                 
Shares     Description   Value  
Common Stocks — (continued)
Health Care Equipment & Supplies — 4.3%
  479,025    
C.R. Bard, Inc.
   $ 40,491,983  
  1,203,297    
St. Jude Medical, Inc.*
     47,831,056  
     
    88,323,039  
 
Health Care Providers & Services — 1.3%
  740,347    
Psychiatric Solutions, Inc.*
     27,044,876  
 
Hotels, Restaurants & Leisure — 0.9%
  659,201    
Pinnacle Entertainment, Inc.*
     18,095,067  
 
Household Durables — 5.2%
  606,491    
Fortune Brands, Inc.
     46,487,535  
  285,466    
Harman International Industries, Inc.
     21,010,298  
  1,440,245    
Newell Rubbermaid, Inc.(a)
     38,569,761  
     
    106,067,594  
 
Insurance — 2.8%
  418,180    
Aon Corp.
     20,896,455  
  489,681    
Principal Financial Group, Inc.
     32,069,209  
  587,666    
Security Capital Assurance Ltd.(a)
     4,160,675  
     
    57,126,339  
 
Internet & Catalog Retail — 1.4%
  1,285,553    
Netflix, Inc.*(a)
     29,696,274  
 
Internet Software & Services — 1.3%
  218,251    
Bankrate, Inc.*(a)
     8,542,344  
  160,613    
Equinix, Inc.*(a)
     16,721,419  
  43,958    
The Knot, Inc.*(a)
     580,246  
     
    25,844,009  
 
IT Services — 9.5%
  697,026    
Cognizant Technology Solutions Corp.*
     21,677,509  
  672,541    
Fiserv, Inc.*
     34,521,530  
  824,779    
Global Payments, Inc.
     35,646,948  
  957,282    
Iron Mountain, Inc.*
     34,921,647  
  728,023    
NeuStar, Inc.*(a)
     23,129,291  
  2,012,129    
Western Union Co.
     45,474,115  
     
    195,371,040  
 
Leisure Equipment & Products — 1.3%
  1,361,220    
Mattel, Inc.
     27,197,176  
 
Life Sciences Tools & Services — 5.2%
  686,802    
Charles River Laboratories International, Inc.*(a)
     43,632,531  
  264,457    
Millipore Corp.*
     21,653,739  
  734,184    
Thermo Fisher Scientific, Inc.*(a)
     42,318,366  
     
    107,604,636  
 
Machinery — 1.1%
  287,027    
Kennametal, Inc.
     22,402,457  
 


 

 

GOLDMAN SACHS GROWTH OPPORTUNITIES FUND
Schedule of Investments (continued)
November 30, 2007 (Unaudited)

                 
Shares     Description   Value  
Common Stocks — (continued)
Media — 3.3%
  4,290,202    
Entravision Communications Corp.*(b)
   $ 32,090,711  
  434,563    
Lamar Advertising Co.(a)
     22,601,621  
  505,598    
National CineMedia, Inc.
     13,994,953  
     
    68,687,285  
 
Multiline Retail — 1.4%
  639,283    
J.C. Penney Co., Inc.
     28,205,166  
 
Oil, Gas & Consumable Fuels — 3.1%
  455,848    
Continental Resources, Inc.*
     10,858,299  
  228,364    
Hess Corp.
     16,264,084  
  581,333    
Quicksilver Resources, Inc.*(a)
     29,415,450  
  215,100    
SandRidge Energy, Inc.*(a)
     6,829,425  
     
    63,367,258  
 
Personal Products — 1.2%
  342,361    
Chattem, Inc.*(a)
     24,276,818  
 
Real Estate Management & Development — 1.8%
  1,554,800    
CB Richard Ellis Group, Inc.*(a)
     36,926,500  
 
Semiconductors & Semiconductor Equipment — 5.6%
  1,337,634    
FormFactor, Inc.*
     50,749,834  
  594,840    
Linear Technology Corp.(a)
     18,118,826  
  1,175,722    
Tessera Technologies, Inc.*
     45,406,384  
     
    114,275,044  
 
Software — 6.1%
  2,655,021    
Activision, Inc.*
     58,808,715  
  674,838    
Electronic Arts, Inc.*
     37,919,147  
  502,388    
Salesforce.com, Inc.*(a)
     28,500,472  
     
    125,228,334  
 
Specialty Retail — 4.1%
  407,814    
Advance Auto Parts, Inc.
     14,664,992  
  1,502,000    
Urban Outfitters, Inc.*(a)
     39,352,400  
  1,037,311    
Williams-Sonoma, Inc.(a)
     30,196,123  
     
    84,213,515  
 
Textiles, Apparel & Luxury Goods — 2.4%
  1,342,977    
Coach, Inc.*
     49,878,166  
 
Trading Companies & Distributors — 1.8%
  409,206    
W.W. Grainger, Inc.
     36,132,890  
 
Wireless Telecommunication Services — 4.7%
  603,609    
American Tower Corp.*
     27,488,354  
  789,052    
Clearwire Corp.*(a)
     12,285,540  
  727,953    
Crown Castle International Corp.*
     30,537,628  
                 
Shares     Description   Value  
Common Stocks — (continued)
Wireless Telecommunication Services — (continued)
  1,563,549    
MetroPCS Communications, Inc.*(a)
   $ 26,736,688  
     
    97,048,210  
 
TOTAL COMMON STOCKS   $ 2,009,699,490  
 
                             
Principal     Interest   Maturity      
Amount     Rate   Date   Value  
Repurchase Agreement(c) — 2.7%
Joint Repurchase Agreement Account II
$
     55,700,000       4.625 %   12/03/07   $ 55,700,000  
Maturity Value: $55,721,468
 
TOTAL INVESTMENTS BEFORE SECURITIES LENDING COLLATERAL
   $ 2,065,399,490  
 
                             
            Interest          
Shares     Rate       Value  
Securities Lending Collateral(d) — 16.9%
Boston Global Investment Trust — Enhanced Portfolio
 
     348,108,450       4.866 %       $ 348,108,450  
 
TOTAL INVESTMENTS — 117.5%
   $ 2,413,507,940  
 
LIABILITIES IN EXCESS OF OTHER ASSETS — (17.5)%
   (359,268,573 )
 
NET ASSETS — 100.0%
   $ 2,054,239,367  
 
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) All or a portion of security is on loan.
(b) Represents an affiliated issuer.
(c) Joint repurchase agreement was entered into on November 30, 2007. Additional information appears in the Notes to the Schedule of Investments section.
(d) Variable rate security. Interest rate disclosed is that which is in effect at November 30, 2007.
For information on the mutual funds, please call our toll free Shareholder Services Line at 1-800-526-7384 or visit us on the web at www.goldmansachsfunds.com.


 

 

GOLDMAN SACHS GROWTH OPPORTUNITIES FUND
Schedule of Investments (continued)
November 30, 2007 (Unaudited)
ADDITIONAL INVESTMENT INFORMATION
TAX INFORMATION — At November 30, 2007, the Fund’s aggregate security unrealized gains and losses based on cost for U.S. federal income tax purposes were as follows:
         
 
Tax Cost
   $ 2,171,227,985  
 
Gross unrealized gain
     349,189,372  
Gross unrealized loss
     (106,909,417 )
 
Net unrealized security gain
   $ 242,279,955  
 
Additional information regarding the Fund is available in the Fund’s most recent Annual and Semiannual Reports to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).

 

GOLDMAN SACHS SMALL/MID CAP GROWTH FUND
Schedule of Investments
November 30, 2007 (Unaudited)

                 
Shares     Description   Value  
Common Stocks — 98.9%
Aerospace & Defense — 2.8%
  62,700    
Aerovironment, Inc.*(a)
   $ 1,510,443  
  19,200    
Alliant Techsystems, Inc.*
     2,243,136  
     
    3,753,579  
 
Auto Components — 1.6%
  103,500    
Gentex Corp.
     2,051,370  
 
Beverages — 0.5%
  14,800    
Hansen Natural Corp.*
     642,468  
 
Biotechnology — 3.9%
  20,200    
Affymax, Inc.*(a)
     514,292  
  17,800    
Alexion Pharmaceuticals, Inc.*(a)
     1,294,416  
  36,700    
Amylin Pharmaceuticals, Inc.*(a)
     1,401,573  
  94,511    
NeurogesX, Inc.*
     634,169  
  42,000    
Progenics Pharmaceuticals, Inc.*(a)
     814,800  
  59,500    
Vanda Pharmaceuticals, Inc.*(a)
     534,905  
     
    5,194,155  
 
Capital Markets — 5.0%
  36,000    
Eaton Vance Corp.
     1,575,360  
  49,400    
Evercore Partners, Inc.(a)
     1,035,918  
  78,617    
HFF, Inc.*
     536,954  
  48,655    
Raymond James Financial, Inc.
     1,580,315  
  27,800    
Stifel Financial Corp.*(a)
     1,294,090  
  45,200    
TradeStation Group, Inc.*
     539,236  
     
    6,561,873  
 
Commercial Banks — 0.7%
  16,800    
SVB Financial Group*
     864,864  
 
Commercial Services & Supplies — 2.8%
  64,803    
Healthcare Services Group, Inc.(a)
     1,419,186  
  30,300    
Ritchie Bros. Auctioneers, Inc.
     2,245,230  
     
    3,664,416  
 
Communications Equipment — 0.7%
  47,840    
Neutral Tandem, Inc.*
     874,994  
 
Consumer Finance — 0.4%
  34,500    
First Cash Financial Services, Inc.*
     586,500  
 
Diversified Consumer Services — 1.9%
  26,370    
Bright Horizons Family Solutions, Inc.*
     996,522  
  35,790    
Coinstar, Inc.*
     935,193  
  12,675    
Weight Watchers International, Inc.
     605,231  
     
    2,536,946  
 
                 
Shares     Description   Value  
Common Stocks — (continued)
Diversified Financial Services — 0.2%
  9,500    
MSCI, Inc.*
   $ 262,675  
 
Electrical Equipment — 2.3%
  4,900    
First Solar, Inc.*
     1,162,035  
  29,370    
Roper Industries, Inc.
     1,863,527  
     
    3,025,562  
 
Electronic Equipment & Instruments — 5.5%
  59,300    
Amphenol Corp.
     2,570,655  
  64,060    
Cogent, Inc.*
     711,066  
  22,520    
Dolby Laboratories, Inc.*
     1,131,405  
  29,310    
FLIR Systems, Inc.*
     2,014,476  
  43,080    
LoJack Corp.*
     754,331  
     
    7,181,933  
 
Energy Equipment & Services — 5.3%
  25,480    
Cameron International Corp.*(a)
     2,375,500  
  11,500    
Dresser-Rand Group, Inc.*
     409,400  
  41,040    
Grant Prideco, Inc.*
     1,974,024  
  47,228    
Tesco Corp.*
     1,033,349  
  23,990    
W-H Energy Services, Inc.*
     1,211,495  
     
    7,003,768  
 
Health Care Equipment & Supplies — 5.6%
  22,800    
ArthroCare Corp.*(a)
     1,234,164  
  15,500    
Gen-Probe, Inc.*
     1,036,795  
  99,854    
Natus Medical, Inc.*
     1,684,537  
  71,200    
Northstar Neuroscience, Inc.*(a)
     657,176  
  30,100    
NuVasive, Inc.*(a)
     1,281,357  
  149,790    
OraSure Technologies, Inc.*
     1,420,009  
     
    7,314,038  
 
Health Care Providers & Services — 2.5%
  64,480    
Psychiatric Solutions, Inc.*
     2,355,454  
  21,500    
VCA Antech, Inc.*
     882,145  
     
    3,237,599  
 
Hotels, Restaurants & Leisure — 3.3%
  14,240    
Life Time Fitness, Inc.*(a)
     773,517  
  25,780    
P.F. Chang’s China Bistro, Inc.*(a)
     659,710  
  16,090    
Panera Bread Co.*(a)
     644,726  
  41,571    
Pinnacle Entertainment, Inc.*
     1,141,124  
  86,342    
Texas Roadhouse, Inc.*
     1,087,046  
     
    4,306,123  
 
Household Durables — 1.0%
  18,100    
Harman International Industries, Inc.
     1,332,160  
 
Household Products — 0.3%
  64,300    
Central Garden & Pet Co.*(a)
     337,575  
 


 

 

GOLDMAN SACHS SMALL/MID CAP GROWTH FUND
Schedule of Investments (continued)
November 30, 2007 (Unaudited)

                 
Shares     Description   Value  
Common Stocks — (continued)
Insurance — 1.3%
  36,900    
eHealth, Inc.*
   $ 1,143,531  
  77,000    
Security Capital Assurance Ltd.(a)
     545,160  
     
    1,688,691  
 
Internet & Catalog Retail — 1.4%
  7,880    
Blue Nile, Inc.*(a)
     581,623  
  57,300    
Netflix, Inc.*(a)
     1,323,630  
     
    1,905,253  
 
Internet Software & Services — 1.9%
  16,000    
Bankrate, Inc.*(a)
     626,240  
  69,952    
Switch and Data Facilities Co.*
     1,328,388  
  37,800    
The Knot, Inc.*(a)
     498,960  
     
    2,453,588  
 
IT Services — 3.9%
  44,500    
Global Payments, Inc.
     1,923,290  
  57,545    
Iron Mountain, Inc.*
     2,099,241  
  35,570    
NeuStar, Inc.*
     1,130,059  
     
    5,152,590  
 
Life Sciences Tools & Services — 4.1%
  41,560    
Charles River Laboratories International, Inc.*
     2,640,307  
  14,350    
Covance, Inc.*
     1,253,185  
  18,900    
Millipore Corp.*
     1,547,532  
     
    5,441,024  
 
Machinery — 3.1%
  33,200    
IDEX Corp.
     1,185,240  
  19,000    
Kennametal, Inc.
     1,482,950  
  92,010    
TurboChef Technologies, Inc.*(a)
     1,368,189  
     
    4,036,379  
 
Media — 3.4%
  214,870    
Entravision Communications Corp.*
     1,607,228  
  25,200    
Lamar Advertising Co.
     1,310,652  
  37,400    
LodgeNet Entertainment Corp.*(a)
     718,080  
  30,600    
National CineMedia, Inc.
     847,008  
     
    4,482,968  
 
Oil, Gas & Consumable Fuels — 7.6%
  16,332    
Atlas America, Inc.
     927,331  
  29,300    
Continental Resources, Inc.*
     697,926  
  60,100    
Delta Petroleum Corp.*(a)
     923,737  
  69,040    
OPTI Canada, Inc.*
     1,228,973  
  42,400    
Quicksilver Resources, Inc.*
     2,145,440  
  178,908    
Rex Energy Corp.*(a)
     1,769,400  
  13,900    
SandRidge Energy, Inc.*
     441,325  
                 
Shares     Description   Value  
Common Stocks — (continued)
Oil, Gas & Consumable Fuels — (continued)
  355,200    
UTS Energy Corp.*
   $ 1,893,311  
     
    10,027,443  
 
Personal Products — 2.2%
  23,510    
Chattem, Inc.*(a)
     1,667,094  
  99,400    
Physicians Formula Holdings, Inc.*
     1,289,218  
     
    2,956,312  
 
Pharmaceuticals — 0.6%
  56,632    
Cadence Pharmaceuticals, Inc.*
     762,267  
 
Real Estate Management & Development — 0.8%
  43,400    
CB Richard Ellis Group, Inc.*
     1,030,750  
 
Semiconductors & Semiconductor Equipment — 6.2%
  28,080    
Cavium Networks, Inc.*
     720,252  
  119,830    
Eagle Test Systems, Inc.*
     1,312,138  
  76,550    
FormFactor, Inc.*
     2,904,307  
  50,050    
PMC-Sierra, Inc.*(a)
     351,351  
  75,590    
Tessera Technologies, Inc.*
     2,919,286  
     
    8,207,334  
 
Software — 3.7%
  145,020    
Activision, Inc.*
     3,212,193  
  28,400    
Salesforce.com, Inc.*
     1,611,132  
     
    4,823,325  
 
Specialty Retail — 7.5%
  23,100    
Advance Auto Parts, Inc.
     830,676  
  47,610    
Chico’s FAS, Inc.*
     538,469  
  61,600    
CSK Auto Corp.*
     600,600  
  43,800    
GameStop Corp.*
     2,516,310  
  27,790    
Tractor Supply Co.*(a)
     1,139,946  
  22,600    
Ulta Salon, Cosmetics & Fragrance, Inc.*
     581,724  
  79,230    
Urban Outfitters, Inc.*
     2,075,826  
  53,810    
Williams-Sonoma, Inc.
     1,566,409  
     
    9,849,960  
 
Trading Companies & Distributors — 1.6%
  24,370    
W.W. Grainger, Inc.
     2,151,871  
 
Transportation Infrastructure — 0.3%
  39,800    
CAI International, Inc.*
     463,670  
 
Wireless Telecommunication Services — 3.0%
  45,600    
Clearwire Corp.*(a)
     709,992  
  77,900    
MetroPCS Communications, Inc.*
     1,332,090  


 

 

GOLDMAN SACHS SMALL/MID CAP GROWTH FUND
Schedule of Investments (continued)
November 30, 2007 (Unaudited)

                 
Shares     Description   Value  
Common Stocks — (continued)
Wireless Telecommunication Services — (continued)
  52,050    
SBA Communications Corp.*
   $ 1,948,752  
     
    3,990,834  
 
TOTAL COMMON STOCKS   $ 130,156,857  
 
                             
Principal     Interest   Maturity      
Amount     Rate   Date   Value  
Repurchase Agreement(b) — 0.7%
Joint Repurchase Agreement Account II
$
     900,000       4.625 %   12/03/07   $ 900,000  
Maturity Value: $900,347
 
TOTAL INVESTMENTS BEFORE SECURITIES LENDING COLLATERAL
   $ 131,056,857  
 
                             
            Interest          
Shares     Rate       Value  
Securities Lending Collateral(c) — 15.0%
Boston Global Investment Trust — Enhanced Portfolio
 
     19,787,725       4.866 %       $ 19,787,725  
 
TOTAL INVESTMENTS — 114.6%
   $ 150,844,582  
 
LIABILITIES IN EXCESS OF OTHER ASSETS — (14.6)%
     (19,245,577 )
 
NET ASSETS — 100.0%
   $ 131,599,005  
 
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) All or a portion of security is on loan.
(b) Joint repurchase agreement was entered into on November 30, 2007. Additional information appears in the Notes to the Schedule of Investments section.
(c) Variable rate security. Interest rate disclosed is that which is in effect at November 30, 2007.
For information on the mutual funds, please call our toll free Shareholder Services Line at 1-800-526-7384 or visit us on the web at www.goldmansachsfunds.com


 

 

GOLDMAN SACHS SMALL/MID CAP GROWTH FUND
Schedule of Investments (continued)
November 30, 2007 (Unaudited)
ADDITIONAL INVESTMENT INFORMATION
TAX INFORMATION — At November 30, 2007, the Fund’s aggregate security unrealized gains and losses based on cost for U.S. federal income tax purposes were as follows:
         
 
Tax Cost
   $ 141,564,305  
 
Gross unrealized gain
     19,604,721  
Gross unrealized loss
     (10,324,444 )
 
Net unrealized security gain
   $ 9,280,277  
 
Additional information regarding the Fund is available in the Fund’s most recent Annual and Semiannual Reports to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).

 

GOLDMAN SACHS GROWTH EQUITY FUNDS
Schedule of Investments (continued)
November 30, 2007 (Unaudited)
NOTES TO THE SCHEDULE OF INVESTMENTS
Investment Valuation — Investments in equity securities and investment companies traded on a U.S. securities exchange or the NASDAQ system are valued daily at their last sale price or official closing price on the principal exchange or system on which they are traded. If no sale occurs, such securities and investment companies are valued at the last bid price. Debt securities are valued at prices supplied by independent pricing services or broker/dealer-supplied valuations. The pricing services may use valuation models or matrix pricing, which considers yield or price with respect to comparable bonds, quotations from bond dealers or by reference to other securities that are considered comparable in such characteristics as rating, interest rate and maturity date, to determine the current value. Unlisted equity securities for which market quotations are available are valued at the last sale price on valuation date, or if no sale occurs, at the last bid price. Investments in investment companies (other than those that are exchange traded) are valued at the net asset value per share on the valuation date. Short-term debt obligations maturing in sixty days or less are valued at amortized cost, which approximates market value. Securities for which market quotations are not readily available or are deemed not to reflect market value by the investment adviser are valued at fair value using methods approved by the Trust’s Board of Trustees.
Repurchase Agreements — Repurchase agreements involve the purchase of securities subject to the seller’s agreement to repurchase the securities at a mutually agreed upon date and price. During the term of a repurchase agreement, the value of the underlying securities held as collateral on behalf of the Funds, including accrued interest, is required to exceed the value of the repurchase agreement, including accrued interest. If the seller defaults or becomes insolvent, realization of the collateral by the Funds may be delayed or limited and there may be a decline in the value of the collateral during the period while the Funds seek to assert their rights. The underlying securities for all repurchase agreements are held in safekeeping at the Funds’ custodian or designated subcustodians under triparty repurchase agreements.
     Pursuant to exemptive relief granted by the Securities and Exchange Commission (“SEC”) and terms and conditions contained therein, the Funds, together with other registered investment companies having management or investment advisory agreements with Goldman Sachs Asset Management, L.P. (“GSAM”), or its affiliates, may transfer uninvested cash into joint accounts, the daily aggregate balance of which is invested in one or more repurchase agreements. In addition, the Funds’ credit exposure is allocated to the underlying repurchase counterparties on a pro-rata basis. With the exception of certain transaction fees, the Funds are not subject to any expenses in relation to these investments.
JOINT REPURCHASE AGREEMENT ACCOUNT II — At November 30, 2007, the Funds had undivided interests in the Joint Repurchase Agreement Account II, as follows:
         
    Principal  
Fund   Amount  
 
Capital Growth
   $ 4,000,000  
 
Strategic Growth
     6,700,000  
 
Concentrated Growth
     10,000,000  
 
Growth Opportunities
     55,700,000  
 
Small/Mid Cap Growth
     900,000  
 

 

 

GOLDMAN SACHS GROWTH EQUITY FUNDS
Schedule of Investments (continued)
November 30, 2007 (Unaudited)
NOTES TO THE SCHEDULE OF INVESTMENTS
REPURCHASE AGREEMENTS
                                 
    Principal   Interest   Maturity   Maturity
Counterparty   Amount   Rate   Date   Value
 
ABN Amro, Inc.
   $ 3,000,000,000       4.64 %     12/03/07     $ 3,001,160,000  
 
Banc of America Securities LLC
     500,000,000       4.62       12/03/07       500,192,500  
 
Banc of America Securities LLC
     3,550,000,000       4.63       12/03/07       3,551,369,708  
 
Barclays Capital PLC
     3,500,000,000       4.63       12/03/07       3,501,350,417  
 
Citigroup Global Markets, Inc.
     3,000,000,000       4.63       12/03/07       3,001,157,500  
 
Credit Suisse Securities (USA) LLC
     2,000,000,000       4.61       12/03/07       2,000,768,334  
 
Deutsche Bank Securities, Inc.
     4,310,000,000       4.63       12/03/07       4,311,662,942  
 
Greenwich Capital Markets
     1,000,000,000       4.63       12/03/07       1,000,385,833  
 
Merrill Lynch
     3,000,000,000       4.61       12/03/07       3,001,152,500  
 
UBS Securities LLC
     3,110,000,000       4.61       12/03/07       3,111,194,758  
 
TOTAL
                           $ 26,980,394,492  
 
At November 30, 2007, the Joint Repurchase Agreement Account II was fully collateralized by Federal Farm Credit Bank, 3.375% to 5.250%, due 07/15/08 to 04/21/14; Federal Home Loan Bank, 0.000% to 5.260%, due 12/07/07 to 09/08/08; Federal Home Loan Mortgage Association, 0.000% to 7.500%, due 12/12/07 to 11/01/37; Federal National Mortgage Association, 0.000% to 10.500%, due 12/03/07 to 10/01/47 and U.S. Treasury Notes, 3.875% to 4.750%, due 03/31/11 to 02/15/13. The aggregate market value of the collateral, including accrued interest, was $27,588,535,976.
Securities Lending — Pursuant to exemptive relief granted by the SEC and the terms and conditions contained therein, the Funds may lend their securities through a securities lending agent, Boston Global Advisers (“BGA”) — a wholly-owned subsidiary of Goldman Sachs, to certain qualified borrowers including Goldman Sachs and affiliates. In accordance with the Funds’ security lending procedures, the loans are collateralized at all times with cash and/or securities with a market value at least equal to 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 bear the risk of delay on recovery or loss of rights in the collateral should the borrower of the securities fail financially.
     The Funds invest the cash collateral received in connection with securities lending transactions in the Enhanced Portfolio of Boston Global Investment Trust, a Delaware statutory trust. The Enhanced Portfolio is exempt from registration under Section 3(c)(7) of the Act and is managed by GSAM, for which GSAM receives an investment advisory fee of up to 0.10% of the average daily net assets of the Enhanced Portfolio. The Enhanced Portfolio invests in high quality money market instruments. The Funds bear the risk of incurring a loss from the investment of cash collateral due to either credit or market factors. Both the Funds and BGA receive compensation relating to the lending of the Funds’ securities.
Segregation Transactions — The Funds may enter into certain derivative transactions to seek to increase total return. Forward foreign currency exchange contracts, futures contracts, written options, when-issued securities and forward commitments represent examples of such transactions. As a result of entering into these transactions, the Funds are required to segregate liquid assets with a current value equal to or greater than the market value of the corresponding transactions.

 

 

Item 2. Controls and Procedures.

(a)   The Registrant’s Principal Executive Officer and Principal Financial Officer concluded that the Registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) were effective as of a date within 90 days prior to the filing date of this report (the “Evaluation Date”), based on their evaluation of the effectiveness of the Registrant’s disclosure controls and procedures as of the Evaluation Date.

(b)   There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the Registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

Item 3. Exhibits.

(a)   Separate certifications for the principal executive officer and the principal financial officer of the registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2(a)) are filed herewith.

 

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

             
(Registrant)
   Goldman Sachs Trust  
   
By (Signature and Title)*   /s/ JAMES A. McNAMARA, PRESIDENT/PRINCIPAL EXECUTIVE OFFICER    
     
   
Date
   January 29, 2008  
   

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

             
By (Signature and Title)*   /s/ JAMES A. McNAMARA, PRESIDENT/PRINCIPAL EXECUTIVE OFFICER    
     
   
Date
   January 29, 2008  
   
By (Signature and Title)*   JOHN M. PERLOWSKI, TREASURER/PRINCIPAL FINANCIAL OFFICER    
     
   
Date
   January 29, 2008  
   

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

 

EX-99.CERT 2 e45149exv99wcert.htm EX-99.CERT: CERTIFICATIONS EX-99.CERT
 

CERTIFICATIONS

I, James A. McNamara, certify that:

1. I have reviewed this report on Form N-Q of the Goldman Sachs Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

  (a)   Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

  (b)   Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

  (c)   Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and
 
  (d)   Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

  (a)   All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and
 
  (b)   Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:    January 29, 2008

/s/ JAMES A. McNAMARA                                                         
James A. McNamara
Principal Executive Officer

 

 

CERTIFICATIONS

I, John M. Perlowski, certify that:

1. I have reviewed this report on Form N-Q of the Goldman Sachs Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

  (a)   Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

  (b)   Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

  (c)   Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and
 
  (d)   Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

  (a)   All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and
 
  (b)   Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:    January 29, 2008

/s/ JOHN M. PERLOWSKI                                       
John M. Perlowski
Principal Financial Officer

 

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