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 South Wacker Drive, Chicago, Illinois 60606

(Address of principal executive offices)                                                             (Zip code)

Peter V. Bonanno, Esq.
Goldman, Sachs & Co.
200 West Street
New York, New York 10282 Copies to:
Geoffrey R.T. Kenyon, Esq.
Dechert LLP
200 Clarendon Street
27^th Floor
Boston, MA 02116-5021

(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: May 31, 2010

Item 1. Schedule of Investments.

GOLDMAN SACHS RETIREMENT STRATEGY 2010 PORTFOLIO

Schedule of Investments

May 31, 2010 (Unaudited)

Shares		Description	Value
Underlying Funds (Institutional Shares)(a) — 100.5%
Equity — 55.8%
	255,658	Goldman Sachs Structured International Equity Fund—16.0%	$	2,229,342
	131,743	Goldman Sachs Structured Large Cap Value Fund—8.6%		1,189,638
	97,739	Goldman Sachs Structured Large Cap Growth Fund—7.6%		1,053,627
	99,563	Goldman Sachs Structured Emerging Markets Equity Fund—5.2%		725,817
	67,671	Goldman Sachs Structured Small Cap Equity Fund—5.2%		718,663
	47,495	Goldman Sachs Large Cap Value Fund—3.6%		499,171
	48,767	Goldman Sachs Strategic Growth Fund—3.2%		444,755
	59,008	Goldman Sachs Structured International Small Cap Fund—2.8%		391,226
	27,542	Goldman Sachs Real Estate Securities Fund—2.2%		303,783
	38,158	Goldman Sachs International Real Estate Securities Fund—1.4%		200,328
				7,756,350
Fixed Income — 44.7%
	196,920	Goldman Sachs Inflation Protected Securities Fund—15.8%		2,199,598
	112,312	Goldman Sachs Global Income Fund—10.4%		1,436,471
	80,056	Goldman Sachs Absolute Return Tracker Fund—5.1%		711,693
	101,547	Goldman Sachs Commodity Strategy Fund—3.9%		546,324
	65,142	Goldman Sachs High Yield Fund—3.2%		448,829
	43,494	Goldman Sachs Core Fixed Income Fund—3.0%		421,017
	19,375	Goldman Sachs Emerging Markets Debt Fund—1.7%		227,660
	25,170	Goldman Sachs Local Emerging Markets Debt Fund—1.6%		223,255
				6,214,847
TOTAL UNDERLYING FUNDS (INSTITUTIONAL SHARES) — 100.5%			$	13,971,197
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.5)%				(63,416	)
NET ASSETS — 100.0%			$	13,907,781

The percentage shown for each investment and investment category reflects the value of the respective investment or category as a percentage of net assets.

(a) Represents Affiliated Funds.

For information on the mutual funds and underlying 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 RETIREMENT STRATEGY 2010 PORTFOLIO

Schedule of Investments (continued)

May 31, 2010 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

TAX INFORMATION — At May 31, 2010, the Portfolio’s aggregate security unrealized gains and losses based on cost for U.S. federal income tax purposes were as follows:

Tax Cost	$	15,264,346
Gross unrealized gain		1,054,919
Gross unrealized loss		(2,348,068	)
Net unrealized security loss	$	(1,293,149	)

Additional information regarding the Portfolio is available in the Portfolio’s most recent Annual and Semi-Annual Reports to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).

GOLDMAN SACHS RETIREMENT STRATEGY 2015 PORTFOLIO

Schedule of Investments

May 31, 2010 (Unaudited)

Shares		Description	Value
Underlying Funds (Institutional Shares)(a) — 100.4%
Equity — 63.6%
	290,979	Goldman Sachs Structured International Equity Fund—19.4%	$	2,537,334
	141,928	Goldman Sachs Structured Large Cap Value Fund—9.8%		1,281,606
	106,367	Goldman Sachs Structured Large Cap Growth Fund—8.8%		1,146,636
	102,062	Goldman Sachs Structured Emerging Markets Equity Fund—5.7%		744,033
	67,572	Goldman Sachs Structured Small Cap Equity Fund—5.5%		717,615
	51,267	Goldman Sachs Large Cap Value Fund—4.1%		538,811
	52,987	Goldman Sachs Strategic Growth Fund—3.7%		483,239
	58,381	Goldman Sachs Structured International Small Cap Fund—3.0%		387,064
	25,817	Goldman Sachs Real Estate Securities Fund—2.2%		284,756
	35,922	Goldman Sachs International Real Estate Securities Fund—1.4%		188,591
				8,309,685
Fixed Income — 36.8%
	140,453	Goldman Sachs Inflation Protected Securities Fund—12.0%		1,568,865
	89,646	Goldman Sachs Global Income Fund—8.8%		1,146,567
	75,690	Goldman Sachs Absolute Return Tracker Fund—5.1%		672,886
	101,678	Goldman Sachs Commodity Strategy Fund—4.2%		547,027
	50,284	Goldman Sachs High Yield Fund—2.7%		346,456
	16,949	Goldman Sachs Emerging Markets Debt Fund—1.5%		199,150
	22,153	Goldman Sachs Local Emerging Markets Debt Fund—1.5%		196,496
	14,072	Goldman Sachs Core Fixed Income Fund—1.0%		136,216
				4,813,663
TOTAL UNDERLYING FUNDS (INSTITUTIONAL SHARES) — 100.4%			$	13,123,348
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.4)%				(55,472	)
NET ASSETS — 100.0%			$	13,067,876

The percentage shown for each investment and investment category reflects the value of the respective investment or category as a percentage of net assets.

(a) Represents Affiliated Funds.

For information on the mutual funds and underlying 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 RETIREMENT STRATEGY 2015 PORTFOLIO

Schedule of Investments (continued)

May 31, 2010 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

TAX INFORMATION — At May 31, 2010, the Portfolio’s aggregate security unrealized gains and losses based on cost for U.S. federal income tax purposes were as follows:

Tax Cost	$	13,954,620
Gross unrealized gain		828,547
Gross unrealized loss		(1,659,819	)
Net unrealized security loss	$	(831,272	)

Additional information regarding the Portfolio is available in the Portfolio’s most recent Annual and Semi-Annual Reports to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).

GOLDMAN SACHS RETIREMENT STRATEGY 2020 PORTFOLIO

Schedule of Investments

May 31, 2010 (Unaudited)

Shares		Description	Value
Underlying Funds (Institutional Shares)(a) — 100.4%
Equity — 70.6%
	404,969	Goldman Sachs Structured International Equity Fund—22.5%	$	3,531,330
	189,524	Goldman Sachs Structured Large Cap Value Fund—10.9%		1,711,399
	143,078	Goldman Sachs Structured Large Cap Growth Fund—9.8%		1,542,380
	131,781	Goldman Sachs Structured Emerging Markets Equity Fund—6.1%		960,680
	86,338	Goldman Sachs Structured Small Cap Equity Fund—5.8%		916,913
	68,359	Goldman Sachs Large Cap Value Fund—4.6%		718,457
	71,411	Goldman Sachs Strategic Growth Fund—4.2%		651,271
	70,758	Goldman Sachs Structured International Small Cap Fund—3.0%		469,128
	31,214	Goldman Sachs Real Estate Securities Fund—2.2%		344,291
	43,431	Goldman Sachs International Real Estate Securities Fund—1.5%		228,013
				11,073,862
Fixed Income — 29.8%
	119,345	Goldman Sachs Inflation Protected Securities Fund—8.5%		1,333,079
	75,053	Goldman Sachs Global Income Fund—6.1%		959,923
	82,948	Goldman Sachs Absolute Return Tracker Fund—4.7%		737,404
	123,132	Goldman Sachs Commodity Strategy Fund—4.2%		662,449
	60,797	Goldman Sachs High Yield Fund—2.7%		418,889
	20,494	Goldman Sachs Emerging Markets Debt Fund—1.5%		240,807
	26,772	Goldman Sachs Local Emerging Markets Debt Fund—1.5%		237,471
	9,297	Goldman Sachs Core Fixed Income Fund—0.6%		89,994
				4,680,016
TOTAL UNDERLYING FUNDS (INSTITUTIONAL SHARES) — 100.4%			$	15,753,878
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.4)%				(66,358	)
NET ASSETS — 100.0%			$	15,687,520

The percentage shown for each investment and investment category reflects the value of the respective investment or category as a percentage of net assets.

(a) Represents Affiliated Funds.

For information on the mutual funds and underlying 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 RETIREMENT STRATEGY 2020 PORTFOLIO

Schedule of Investments (continued)

May 31, 2010 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

TAX INFORMATION — At May 31, 2010, the Portfolio’s aggregate security unrealized gains and losses based on cost for U.S. federal income tax purposes were as follows:

Tax Cost	$	16,866,425
Gross unrealized gain		1,278,009
Gross unrealized loss		(2,390,556	)
Net unrealized security loss	$	(1,112,547	)

Additional information regarding the Portfolio is available in the Portfolio’s most recent Annual and Semi-Annual Reports to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).

GOLDMAN SACHS RETIREMENT STRATEGY 2030 PORTFOLIO

Schedule of Investments

May 31, 2010 (Unaudited)

Shares		Description	Value
Underlying Funds (Institutional Shares)(a) — 100.1%
Equity — 80.3%
	667,660	Goldman Sachs Structured International Equity Fund—26.6%	$	5,821,999
	300,792	Goldman Sachs Structured Large Cap Value Fund—12.4%		2,716,153
	228,968	Goldman Sachs Structured Large Cap Growth Fund—11.3%		2,468,278
	206,359	Goldman Sachs Structured Emerging Markets Equity Fund—6.9%		1,504,355
	130,387	Goldman Sachs Structured Small Cap Equity Fund—6.3%		1,384,715
	108,732	Goldman Sachs Large Cap Value Fund—5.2%		1,142,774
	114,450	Goldman Sachs Strategic Growth Fund—4.8%		1,043,782
	102,787	Goldman Sachs Structured International Small Cap Fund—3.1%		681,477
	43,792	Goldman Sachs Real Estate Securities Fund—2.2%		483,024
	61,006	Goldman Sachs International Real Estate Securities Fund—1.5%		320,283
				17,566,840
Fixed Income — 19.8%
	171,290	Goldman Sachs Commodity Strategy Fund—4.2%		921,538
	101,414	Goldman Sachs Absolute Return Tracker Fund—4.1%		901,572
	73,468	Goldman Sachs Inflation Protected Securities Fund—3.7%		820,643
	43,676	Goldman Sachs Global Income Fund—2.6%		558,612
	76,612	Goldman Sachs High Yield Fund—2.4%		527,856
	25,811	Goldman Sachs Emerging Markets Debt Fund—1.4%		303,278
	33,497	Goldman Sachs Local Emerging Markets Debt Fund—1.4%		297,113
				4,330,612
TOTAL UNDERLYING FUNDS (INSTITUTIONAL SHARES) — 100.1%			$	21,897,452
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.1)%				(19,104	)
NET ASSETS — 100.0%			$	21,878,348

The percentage shown for each investment and investment category reflects the value of the respective investment or category as a percentage of net assets.

(a) Represents Affiliated Funds.

For information on the mutual funds and underlying 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 RETIREMENT STRATEGY 2030 PORTFOLIO

Schedule of Investments (continued)

May 31, 2010 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

TAX INFORMATION — At May 31, 2010, the Portfolio’s aggregate security unrealized gains and losses based on cost for U.S. federal income tax purposes were as follows:

Tax Cost	$	23,359,325
Gross unrealized gain		1,479,149
Gross unrealized loss		(2,941,022	)
Net unrealized security loss	$	(1,461,873	)

Additional information regarding the Portfolio is available in the Portfolio’s most recent Annual and Semi-Annual Reports to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).

GOLDMAN SACHS RETIREMENT STRATEGY 2040 PORTFOLIO

Schedule of Investments

May 31, 2010 (Unaudited)

Shares		Description	Value
Underlying Funds (Institutional Shares)(a) — 100.4%
Equity — 85.1%
	434,381	Goldman Sachs Structured International Equity Fund—28.0%	$	3,787,803
	196,468	Goldman Sachs Structured Large Cap Value Fund—13.1%		1,774,102
	149,911	Goldman Sachs Structured Large Cap Growth Fund—12.0%		1,616,040
	142,196	Goldman Sachs Structured Emerging Markets Equity Fund—7.7%		1,036,610
	83,962	Goldman Sachs Structured Small Cap Equity Fund—6.6%		891,681
	70,933	Goldman Sachs Large Cap Value Fund—5.5%		745,501
	74,826	Goldman Sachs Strategic Growth Fund—5.0%		682,416
	71,013	Goldman Sachs Structured International Small Cap Fund—3.5%		470,815
	27,409	Goldman Sachs Real Estate Securities Fund—2.2%		302,325
	37,968	Goldman Sachs International Real Estate Securities Fund—1.5%		199,331
				11,506,624
Fixed Income — 15.3%
	104,169	Goldman Sachs Commodity Strategy Fund—4.1%		560,427
	59,374	Goldman Sachs Absolute Return Tracker Fund—3.9%		527,835
	34,360	Goldman Sachs Global Income Fund—3.2%		439,460
	30,205	Goldman Sachs High Yield Fund—1.5%		208,114
	10,138	Goldman Sachs Emerging Markets Debt Fund—0.9%		119,122
	13,277	Goldman Sachs Local Emerging Markets Debt Fund—0.9%		117,764
	9,094	Goldman Sachs Inflation Protected Securities Fund—0.8%		101,583
				2,074,305
TOTAL UNDERLYING FUNDS (INSTITUTIONAL SHARES) — 100.4%			$	13,580,929
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.4)%				(59,877	)
NET ASSETS — 100.0%			$	13,521,052

The percentage shown for each investment and investment category reflects the value of the respective investment or category as a percentage of net assets.

(a) Represents Affiliated Funds.

For information on the mutual funds and underlying 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 RETIREMENT STRATEGY 2040 PORTFOLIO

Schedule of Investments (continued)

May 31, 2010 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

TAX INFORMATION — At May 31, 2010, the Portfolio’s aggregate security unrealized gains and losses based on cost for U.S. federal income tax purposes were as follows:

Tax Cost	$	14,332,864
Gross unrealized gain		1,087,087
Gross unrealized loss		(1,839,022	)
Net unrealized security loss	$	(751,935	)

Additional information regarding the Portfolio is available in the Portfolio’s most recent Annual and Semi-Annual Reports to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).

GOLDMAN SACHS RETIREMENT STRATEGY 2050 PORTFOLIO

Schedule of Investments

May 31, 2010 (Unaudited)

Shares		Description	Value
Underlying Funds (Institutional Shares)(a) — 100.6%
Equity — 89.8%
	348,107	Goldman Sachs Structured International Equity Fund—29.4%	$	3,035,497
	157,844	Goldman Sachs Structured Large Cap Value Fund—13.8%		1,425,328
	120,536	Goldman Sachs Structured Large Cap Growth Fund—12.6%		1,299,377
	119,586	Goldman Sachs Structured Emerging Markets Equity Fund—8.5%		871,782
	66,418	Goldman Sachs Structured Small Cap Equity Fund—6.8%		705,354
	57,004	Goldman Sachs Large Cap Value Fund—5.8%		599,111
	60,144	Goldman Sachs Strategic Growth Fund—5.3%		548,510
	59,687	Goldman Sachs Structured International Small Cap Fund—3.8%		395,728
	21,026	Goldman Sachs Real Estate Securities Fund—2.3%		231,915
	29,124	Goldman Sachs International Real Estate Securities Fund—1.5%		152,899
				9,265,501
Fixed Income — 10.8%
	77,792	Goldman Sachs Commodity Strategy Fund—4.1%		418,522
	42,911	Goldman Sachs Absolute Return Tracker Fund—3.7%		381,478
	10,911	Goldman Sachs Global Income Fund—1.3%		139,553
	9,582	Goldman Sachs High Yield Fund—0.6%		66,023
	3,226	Goldman Sachs Emerging Markets Debt Fund—0.4%		37,910
	4,242	Goldman Sachs Local Emerging Markets Debt Fund—0.4%		37,624
	2,867	Goldman Sachs Inflation Protected Securities Fund—0.3%		32,032
				1,113,142
TOTAL UNDERLYING FUNDS (INSTITUTIONAL SHARES) — 100.6%			$	10,378,643
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.6)%				(57,753	)
NET ASSETS — 100.0%			$	10,320,890

The percentage shown for each investment and investment category reflects the value of the respective investment or category as a percentage of net assets.

(a) Represents Affiliated Funds.

For information on the mutual funds and underlying 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 RETIREMENT STRATEGY 2050 PORTFOLIO

Schedule of Investments (continued)

May 31, 2010 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

TAX INFORMATION — At May 31, 2010, the Portfolio’s aggregate security unrealized gains and losses based on cost for U.S. federal income tax purposes were as follows:

Tax Cost	$	12,236,982
Gross unrealized gain		166,130
Gross unrealized loss		(2,024,469	)
Net unrealized security loss	$	(1,858,339	)

Additional information regarding the Portfolio is available in the Portfolio’s most recent Annual and Semi-Annual Reports to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).

GOLDMAN SACHS RETIREMENT STRATEGIES PORTFOLIOS

Schedule of Investments

May 31, 2010 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS

Investment Valuation — The investment valuation policy of the Portfolios, as well as the Underlying Funds, is to value investments at market value. Each Portfolio invests in a combination of underlying mutual funds (the “Underlying Funds”) for which Goldman Sachs Asset Management, L.P. (“GSAM”) and Goldman Sachs Asset Management International (“GSAMI”), affiliates of Goldman Sachs, act as investment advisers. Investments in the Underlying Funds are valued at the net asset value per share (“NAV”) of the Institutional Share class of each Underlying Fund on the day of valuation. Because each Portfolio invests primarily in other mutual funds, that fluctuate in value, the Portfolios’ shares will correspondingly fluctuate in value. The Underlying Funds may invest in debt securities which, if market quotations are readily available, are valued on the basis of quotations furnished by an independent pricing service approved by the trustees or provided by securities dealers. The pricing services may use valuation models or matrix pricing, which consider: (i) yield or price with respect to bonds that are considered comparable in characteristics such as rating, interest rate and maturity date or (ii) quotations from bond dealers to determine current value. If accurate quotations are not readily available, or if GSAM or GSAMI believes that such quotations do not accurately reflect fair value, the fair value of the Underlying Funds’ investments may be determined based on yield equivalents, a pricing matrix or other sources, under valuation procedures established by the trustees. Short-term debt obligations that mature in sixty days or less and that do not exhibit signs of credit deterioration are valued at amortized cost, which approximates market value.

     The Underlying Funds may invest in equity securities and investment companies. Investments in equity securities and investment companies traded on a United States (“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. Investments in equity securities and investment companies traded on a foreign securities exchange for which an independent fair value service cannot provide a quote are valued daily at their last sale price or official closing price on the principal exchange on which they are traded. If no sale occurs, such securities and investment companies are valued at the last bid price for long positions and at the last ask price for short positions. Unlisted equity securities in the Underlying Funds 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. In the absence of market quotations, broker quotes will be utilized or the security will be fair valued. Investments in investment companies (other than those that are exchange traded) by the Underlying Funds are valued at the NAV on the valuation date.

     The Underlying Funds may also invest in equity securities traded on a foreign securities exchange that are valued daily at fair value determined by an independent fair value service (if available) under valuation procedures approved by the trustees consistent with applicable regulatory guidance. The independent fair value service takes into account multiple factors including, but not limited to, movements in the U.S. securities markets, certain depositary receipts, futures contracts and foreign currency exchange rates that have occurred subsequent to the close of the foreign securities exchanges. While the independent fair value service may not take into account market or security specific information, under the valuation procedures, these securities might also be fair valued by GSAM or GSAMI by taking into consideration market or security specific information as discussed below.

     GSAM or GSAMI, consistent with its procedures and applicable regulatory guidance, may make an adjustment to the previous closing 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 an Underlying Fund’s NAV. Significant events that could affect a large number of securities in a particular market may include, but are not limited to: situations relating to one or more single issuers in a market sector; significant fluctuations in U.S. or foreign markets; market dislocations; market disruptions or market closings; equipment failures; natural or man-made disasters or acts of God; armed conflicts; government actions or other developments; as well as the same or similar events which may affect specific issuers or the securities markets even though not tied directly to the securities markets. Other significant events that could relate to a single issuer may include, but are not limited to: corporate actions such as reorganizations, mergers and buy-outs; corporate announcements, including those relating to earnings, products and regulatory news; significant litigation; low trading volume; and trading limits or suspensions.

Fair Value of Investments — The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e., the exit price). Accounting principles generally accepted in the United States of America (“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)

GOLDMAN SACHS RETIREMENT STRATEGIES PORTFOLIOS

Schedule of Investments (continued)

May 31, 2010 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

and the lowest priority to unobservable inputs (Level 3 measurements). 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 securities, interest rates, foreign exchange rates, prepayment speeds and credit risk), either directly or indirectly;

Level 3 — Prices or valuations that require significant unobservable inputs (including GSAM’s assumptions in determining fair value measurement).

The following is a summary of the Portfolios’ investments categorized in the fair value hierarchy, as of May 31, 2010:

	Retirement Strategy 2010						Retirement Strategy 2015						Retirement Strategy 2020
Assets	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Equity Underlying Funds	$	7,756,350	$	—	$	—	$	8,309,685	$	—	$	—	$	11,073,862	$	—	$	—
Fixed Income Underlying Funds		6,214,847		—		—		4,813,663		—		—		4,680,016		—		—
Total	$	13,971,197	$	—	$	—	$	13,123,348	$	—	$	—	$	15,753,878	$	—	$	—

	Retirement Strategy 2030						Retirement Strategy 2040						Retirement Strategy 2050
Assets	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Equity Underlying Funds	$	17,566,840	$	—	$	—	$	11,506,624	$	—	$	—	$	9,265,501	$	—	$	—
Fixed Income Underlying Funds		4,330,612		—		—		2,074,305		—		—		1,113,142		—		—
Total	$	21,897,452	$	—	$	—	$	13,580,929	$	—	$	—	$	10,378,643	$	—	$	—

Market and Credit Risks — In the normal course of business, the Portfolios trade financial instruments and enter into financial transactions where risk of potential loss exists due to changes in the market (market risk). Additionally, the Portfolios may also be exposed to credit risk in the event that an issuer fails to perform or that an institution or entity with which the Portfolios have unsettled or open transaction defaults.

Item 2. Controls and Procedures.

(a) The Registrant’s President 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 president 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
Date	July 30, 2010

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
Date	July 30, 2010
By (Signature and Title)*		/s/ GEORGE F. TRAVERS, PRINCIPAL FINANCIAL OFFICER
Date	July 30, 2010

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