Goldman Sachs Trust
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)
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71 South Wacker Drive, Chicago, Illinois |
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60606 |
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(Address of principal executive offices) |
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(Zip code) |
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Caroline Kraus, Esq. Goldman, Sachs & Co. 200 West Street
New York, New York 10282 |
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Copies to: Geoffrey R.T. Kenyon, Esq. Dechert LLP
200 Clarendon Street 27th
Floor Boston, MA 02116-5021 |
(Name and address of agent for service)
Registrants telephone number, including area code: (312) 655-4400
Date of fiscal year end: October 31
Date of reporting period: January 31, 2013
Item 1. |
Schedule of Investments. |
GOLDMAN SACHS STRUCTURED EMERGING MARKETS EQUITY FUND
Schedule of Investments
January 31, 2013 (Unaudited)
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Shares |
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Description |
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Value |
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Common Stocks
91.6% |
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Brazil 9.9% |
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94,200 |
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Banco Bradesco SA ADR (Banks) |
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$ 1,731,396 |
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47,600 |
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BR Malls Participacoes SA
(Real Estate) |
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616,229 |
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33,300 |
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CIA de Saneamento Basico do Estado de Sao Paulo ADR (Utilities)* |
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1,482,183 |
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286,600 |
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Cielo SA (Software & Services) |
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8,112,811 |
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152,800 |
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Cosan SA Industria e Comercio (Energy) |
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3,606,398 |
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281,100 |
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Duratex SA (Materials) |
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1,950,770 |
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133,150 |
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Embraer SA ADR (Capital Goods)(a) |
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4,389,956 |
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95,400 |
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Ez Tec Empreendimentos e Participacoes SA (Consumer Durables & Apparel) |
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1,240,796 |
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1,108,700 |
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Gerdau SA ADR (Materials) |
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9,789,821 |
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128,100 |
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Grendene SA (Consumer Durables
& Apparel) |
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1,127,030 |
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117,100 |
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Grupo BTG Pactual (Diversified
Financials) |
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2,013,101 |
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110,500 |
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Helbor Empreendimentos SA (Consumer Durables & Apparel) |
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643,684 |
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53,000 |
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M. Dias Branco SA (Food,
Beverage & Tobacco) |
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2,102,860 |
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498,100 |
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Minerva SA (Food, Beverage & Tobacco) |
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3,251,714 |
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366,800 |
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MRV Engenharia e Participacoes SA (Consumer Durables & Apparel) |
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2,099,842 |
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61,400 |
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Multiplus SA (Commercial & Professional Services) |
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1,321,755 |
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35,000 |
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Porto Seguro SA (Insurance) |
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420,067 |
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30,400 |
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Sao Martinho SA (Food, Beverage & Tobacco) |
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435,082 |
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41,800 |
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Sul America SA (Insurance) |
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390,848 |
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682,800 |
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Vale SA ADR (Materials) |
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13,772,076 |
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60,498,419 |
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Chile 0.3% |
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28,954 |
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Administradora de Fondos de Pensiones Provida SA (Diversified Financials) |
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213,177 |
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11,261 |
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Banco de Credito e Inversiones (Banks) |
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879,424 |
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84,574 |
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S.A.C.I. Falabella (Retailing) |
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981,768 |
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2,074,369 |
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China 12.3% |
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2,432,000 |
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Agile Property Holdings Ltd.
(Real Estate) |
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3,450,575 |
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1,596,000 |
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Air China Ltd. Class H (Transportation) |
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1,368,740 |
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30,225,000 |
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Bank of China Ltd. Class H (Banks) |
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14,892,315 |
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Shares |
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Description |
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Value |
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Common Stocks
(continued) |
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China (continued) |
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6,061,000 |
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China Citic Bank Corp. Ltd. Class H (Banks) |
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$ 4,134,883 |
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4,182,000 |
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China Communications Construction Co. Ltd. Class H (Capital Goods) |
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4,251,510 |
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21,676,000 |
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China Construction Bank Corp.
Class H (Banks) |
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18,698,399 |
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1,721,000 |
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China Merchants Bank Co. Ltd.
Class H (Banks) |
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4,125,458 |
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1,049,500 |
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China Minsheng Banking Corp. Ltd. Class H (Banks) |
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1,506,890 |
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1,143,500 |
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China Railway Construction Corp. Ltd. Class H (Capital Goods) |
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1,236,364 |
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3,733,000 |
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CNOOC Ltd. (Energy) |
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7,682,083 |
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789,000 |
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Evergrande Real Estate Group Ltd. (Real Estate) |
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416,908 |
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2,073,500 |
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Great Wall Motor Co. Ltd. Class H (Automobiles & Components) |
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8,429,919 |
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2,082,800 |
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Guangzhou R&F Properties Co. Ltd. Class H (Real Estate) |
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3,780,337 |
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1,920,000 |
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Sino-Ocean Land Holdings Ltd.
Class H (Real Estate) |
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1,533,659 |
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75,508,040 |
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Czech Republic 0.1% |
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19,747 |
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CEZ AS (Utilities) |
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640,394 |
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Egypt 0.1% |
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148,080 |
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Telecom Egypt Co. (Telecommunication Services) |
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319,746 |
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Hong Kong 6.3% |
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234,000 |
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China Everbright Ltd.
(Diversified Financials) |
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441,030 |
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761,500 |
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China Mobile Ltd. (Telecommunication Services) |
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8,326,395 |
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365,000 |
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China Overseas Grand Oceans Group Ltd. (Real Estate) |
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507,470 |
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3,126,000 |
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China Overseas Land & Investment Ltd. (Real Estate) |
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9,695,332 |
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22,600 |
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Focus Media Holding Ltd. ADR (Media)(a) |
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571,554 |
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1,554,000 |
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Guangdong Investment Ltd. (Utilities) |
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1,290,055 |
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2,854,000 |
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Kunlun Energy Co. Ltd. (Energy) |
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5,931,554 |
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2,476,500 |
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KWG Property Holding Ltd.
(Real Estate) |
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1,879,317 |
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354,000 |
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Lee & Man Paper Manufacturing Ltd. (Materials) |
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238,917 |
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2,340,500 |
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Shimao Property Holdings Ltd.
(Real Estate) |
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5,175,474 |
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13,204,000 |
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Yuexiu Property Co. Ltd. (Real
Estate) |
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4,718,538 |
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38,775,636 |
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GOLDMAN SACHS STRUCTURED EMERGING MARKETS EQUITY FUND
Schedule of Investments (continued)
January 31, 2013
(Unaudited)
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Shares |
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Description |
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Value |
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Common Stocks
(continued) |
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India 9.2% |
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14,650 |
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Asian Paints Ltd. (Materials) |
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$ 1,239,623 |
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12,076 |
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Bajaj Auto Ltd. (Automobiles & Components) |
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460,416 |
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40,035 |
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Bajaj Finserv Ltd. (Insurance) |
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640,583 |
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58,196 |
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Bajaj Holdings and Investment Ltd. (Diversified Financials) |
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1,059,084 |
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12,179 |
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Bank of Baroda (Banks) |
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198,722 |
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426,727 |
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Cairn India Ltd. (Energy) |
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2,593,829 |
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14,393 |
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HDFC Bank Ltd. ADR (Banks) |
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578,886 |
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177,998 |
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Hindustan Zinc Ltd. (Materials) |
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429,214 |
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569,917 |
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Indiabulls Financial Services Ltd. (Diversified Financials) |
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3,502,515 |
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634,185 |
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Indian Bank (Banks) |
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2,408,314 |
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291,135 |
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Mahindra & Mahindra Ltd. (Automobiles & Components) |
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4,869,273 |
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124,550 |
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Power Finance Corp. Ltd.
(Diversified Financials) |
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493,871 |
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459,637 |
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Reliance Capital Ltd.
(Diversified Financials) |
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4,104,999 |
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726,004 |
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Reliance Industries Ltd. (Energy) |
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12,103,230 |
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223,377 |
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Rural Electrification Corp. Ltd. (Diversified Financials) |
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1,013,180 |
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419,831 |
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Satyam Computer Services Ltd. (Software & Services)* |
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942,811 |
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3,179 |
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Shree Cement Ltd. (Materials) |
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266,668 |
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25,713 |
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Shriram Transport Finance Co. Ltd. (Diversified Financials) |
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381,693 |
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109,338 |
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Sterlite Industries India Ltd. (Materials) |
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233,285 |
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115,763 |
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Tata Consultancy Services Ltd. (Software & Services) |
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2,926,647 |
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513,566 |
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Tata Global Beverages Ltd.
(Food, Beverage & Tobacco) |
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1,439,762 |
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1,582,798 |
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Tata Motors Ltd. (Automobiles & Components) |
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8,806,100 |
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71,473 |
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Ultratech Cement Ltd. (Materials) |
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2,556,414 |
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50,691 |
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Wockhardt Ltd. (Pharmaceuticals, Biotechnology & Life Sciences)* |
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1,663,203 |
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357,274 |
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Zee Entertainment Enterprises Ltd. (Media) |
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1,546,270 |
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56,458,592 |
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Indonesia 1.1% |
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2,064,000 |
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PT Bank Negara Indonesia (Persero) Tbk (Banks) |
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831,999 |
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1,310,500 |
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PT Bank Rakyat Indonesia (Persero) Tbk (Banks) |
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1,070,252 |
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1,305,000 |
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PT Indocement Tunggal Prakarsa Tbk (Materials) |
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2,914,399 |
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314,500 |
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PT Indofood CBP Sukses Makmur Tbk (Food, Beverage & Tobacco) |
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258,643 |
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Shares |
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Description |
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Value |
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Common Stocks
(continued) |
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Indonesia (continued) |
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2,911,000 |
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PT Perusahaan Gas Negara Persero Tbk (Utilities) |
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$ 1,397,514 |
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6,472,807 |
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Luxembourg 0.1% |
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152,165 |
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Brait SE (Diversified Financials)* |
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543,830 |
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Malaysia 2.3% |
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3,658,500 |
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AMMB Holdings Berhad
(Diversified Financials) |
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7,488,915 |
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2,313,000 |
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Genting Malaysia Berhad
(Consumer Services) |
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2,732,590 |
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640,200 |
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IHH Healthcare Berhad (Health
Care Equipment & Services)* |
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678,389 |
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268,300 |
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KLCC Property Holdings Berhad
(Real Estate) |
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543,163 |
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409,500 |
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Kulim Malaysia Berhad (Food,
Beverage & Tobacco) |
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474,477 |
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885,900 |
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Telekom Malaysia Berhad (Telecommunication Services) |
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1,582,474 |
|
407,800 |
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Top Glove Corp. Berhad (Health
Care Equipment & Services) |
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686,448 |
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14,186,456 |
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Mexico 2.6% |
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135,335 |
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America Movil SAB de CV Series L ADR (Telecommunication Services) |
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3,405,029 |
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320,820 |
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Cemex SAB de CV ADR (Materials)* |
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3,480,897 |
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74,900 |
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Controladora Comercial Mexicana SA de CV (Food & Staples Retailing) |
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272,452 |
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20,470 |
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Grupo Aeroportuario del Pacifico SAB de CV ADR (Transportation) |
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1,274,053 |
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38,130 |
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Grupo Aeroportuario del Sureste SAB de CV ADR (Transportation) |
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4,553,103 |
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129,900 |
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Grupo Carso SAB de CV Series A-1 (Capital Goods) |
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630,671 |
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78,100 |
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Grupo Mexico SAB de CV Series B (Materials) |
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291,034 |
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125,500 |
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Grupo Modelo SAB de CV Series C (Food, Beverage & Tobacco) |
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1,067,894 |
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34,720 |
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Grupo Televisa SAB ADR (Media) |
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972,507 |
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131,200 |
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Inmuebles Carso SAB de CV
Series B-1 (Diversified Financials)* |
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113,507 |
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16,061,147 |
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GOLDMAN SACHS STRUCTURED EMERGING MARKETS EQUITY FUND
Schedule of Investments (continued)
January 31, 2013
(Unaudited)
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Shares |
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Description |
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Value |
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Common Stocks
(continued) |
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Philippines 0.3% |
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433,380 |
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Metropolitan Bank & Trust (Banks) |
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$ 1,123,081 |
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429,840 |
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Universal Robina Corp. (Food,
Beverage & Tobacco) |
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923,387 |
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2,046,468 |
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Poland 2.1% |
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17,315 |
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Eurocash SA (Food &
Staples Retailing) |
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281,750 |
|
150,663 |
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KGHM Polska Miedz SA (Materials) |
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9,219,269 |
|
207,028 |
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PGE SA (Utilities) |
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1,141,795 |
|
50,221 |
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Polski Koncern Naftowy Orlen SA (Energy)* |
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795,075 |
|
718,818 |
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Synthos SA (Materials) |
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1,220,029 |
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12,657,918 |
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Russia 7.1% |
|
129,949 |
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OAO Gazprom Neft ADR (Energy)(a) |
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3,155,215 |
|
241,217 |
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OAO Lukoil ADR (Energy) |
|
16,265,139 |
|
76,914 |
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OAO Tatneft ADR (Energy) |
|
3,542,629 |
|
129,720 |
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OJSC MMC Norilsk Nickel ADR (Materials) |
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2,584,190 |
|
216,600 |
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OJSC Mobile Telesystems ADR (Telecommunication Services) |
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4,258,356 |
|
70,034 |
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Phosagro OAO GDR (Materials) |
|
969,971 |
|
3,419,780 |
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Sberbank of Russia (Banks) |
|
12,473,043 |
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|
43,248,543 |
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South Africa 5.2% |
|
649,846 |
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AVI Ltd. (Food, Beverage & Tobacco) |
|
3,968,857 |
|
2,743,698 |
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FirstRand Ltd. (Diversified Financials) |
|
9,892,145 |
|
42,679 |
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Investec Ltd. (Diversified Financials) |
|
308,387 |
|
32,468 |
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Kumba Iron Ore Ltd. (Materials) |
|
2,186,433 |
|
91,906 |
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Liberty Holdings Ltd. (Insurance) |
|
1,183,005 |
|
74,251 |
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Mondi Ltd. (Materials) |
|
883,002 |
|
270,061 |
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Pickn Pay Holdings Ltd. (Food & Staples Retailing) |
|
591,149 |
|
577,076 |
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|
Redefine Properties Ltd. (Real Estate) |
|
618,691 |
|
243,719 |
|
|
RMB Holdings Ltd. (Diversified
Financials) |
|
1,168,904 |
|
640,877 |
|
|
Super Group Ltd. (Retailing)* |
|
1,288,348 |
|
|
|
|
|
|
|
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Shares |
|
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Description |
|
Value |
|
Common Stocks
(continued) |
|
South Africa (continued) |
|
713,933 |
|
|
Vodacom Group Ltd. (Telecommunication Services) |
|
$ 9,930,162 |
|
|
|
|
|
|
|
|
|
|
|
|
|
32,019,083 |
|
|
|
South Korea 12.1% |
|
248 |
|
|
ABLE C&C (Household &
Personal Products) |
|
17,345 |
|
2,591 |
|
|
AmorePacific Group (Household & Personal Products) |
|
980,163 |
|
72,270 |
|
|
Grand Korea Leisure Co. Ltd.
(Consumer Services) |
|
2,040,386 |
|
6,638 |
|
|
GS Holdings (Energy) |
|
432,960 |
|
36,990 |
|
|
Hanwha Life Insurance Co. Ltd. (Insurance) |
|
251,886 |
|
19,540 |
|
|
Hyundai Marine & Fire Insurance Co. Ltd. (Insurance) |
|
601,070 |
|
45,392 |
|
|
Hyundai Motor Co. (Automobiles & Components) |
|
8,547,837 |
|
1,957 |
|
|
Hyundai Wia Corp. (Automobiles & Components) |
|
264,131 |
|
2,808 |
|
|
KCC Corp. (Capital Goods) |
|
750,305 |
|
130,557 |
|
|
Kia Motors Corp. (Automobiles & Components) |
|
6,201,354 |
|
16,710 |
|
|
Korea Kolmar Holdings Co. Ltd. (Household & Personal Products) |
|
206,471 |
|
10,443 |
|
|
Korea Zinc Co. Ltd. (Materials) |
|
3,682,259 |
|
21,841 |
|
|
LG Corp. (Capital Goods) |
|
1,286,663 |
|
166,710 |
|
|
LG Display Co. Ltd.
(Technology Hardware & Equipment)* |
|
4,476,738 |
|
28,040 |
|
|
LG International Corp. (Capital Goods) |
|
1,158,515 |
|
93,380 |
|
|
Macquarie Korea Infrastructure Fund (Diversified Financials) |
|
570,255 |
|
8,754 |
|
|
Modetour Network, Inc.
(Consumer Services) |
|
253,436 |
|
33,353 |
|
|
Paradise Co. Ltd. (Consumer Services) |
|
588,232 |
|
19,209 |
|
|
Samsung Electronics Co. Ltd. (Semiconductors & Semiconductor Equipment) |
|
25,556,306 |
|
64,952 |
|
|
Samsung Life Insurance Co. Ltd. (Insurance) |
|
6,263,753 |
|
16,714 |
|
|
Samyang Holdings Corp. (Food,
Beverage & Tobacco) |
|
1,040,505 |
|
14,044 |
|
|
SK Holdings Co. Ltd. (Capital Goods) |
|
2,219,469 |
|
5,123 |
|
|
SK Innovation Co. Ltd. (Energy) |
|
807,325 |
|
54,061 |
|
|
S-Oil Corp. (Energy) |
|
4,863,139 |
|
54,500 |
|
|
Woori Finance Holdings Co. Ltd. (Banks) |
|
640,795 |
|
|
|
|
|
|
|
|
|
|
|
|
|
73,701,298 |
|
|
GOLDMAN SACHS STRUCTURED EMERGING MARKETS EQUITY FUND
Schedule of Investments (continued)
January 31, 2013
(Unaudited)
|
|
|
|
|
|
|
|
|
|
Shares |
|
|
Description |
|
Value |
|
Common Stocks
(continued) |
|
Taiwan 11.6% |
|
2,040,000 |
|
|
Asia Cement Corp. (Materials) |
|
$ 2,596,764 |
|
471,880 |
|
|
Asustek Computer, Inc.
(Technology Hardware & Equipment) |
|
5,408,005 |
|
772,000 |
|
|
Chipbond Technology Corp. (Semiconductors & Semiconductor Equipment) |
|
1,588,412 |
|
57,000 |
|
|
Chong Hong Construction Co.
(Real Estate) |
|
189,441 |
|
499,000 |
|
|
Grape King Industrial Co.
(Household & Personal Products) |
|
1,277,612 |
|
4,092,000 |
|
|
Hon Hai Precision Industry Co. Ltd. (Technology Hardware & Equipment) |
|
11,715,463 |
|
812,000 |
|
|
Huang Hsiang Construction Co.
(Real Estate) |
|
2,089,900 |
|
313,000 |
|
|
Kindom Construction Co. (Real
Estate) |
|
257,281 |
|
2,808,505 |
|
|
Mega Financial Holding Co. Ltd. (Banks) |
|
2,300,166 |
|
424,000 |
|
|
Novatek Microelectronics Corp. Ltd. (Semiconductors & Semiconductor Equipment) |
|
1,687,007 |
|
5,168,000 |
|
|
Pou Chen Corp. (Consumer Durables & Apparel) |
|
5,164,253 |
|
1,915,000 |
|
|
Radiant Opto-Electronics Corp. (Semiconductors & Semiconductor Equipment) |
|
7,434,056 |
|
494,000 |
|
|
Systex Corp. (Software & Services)* |
|
601,296 |
|
3,242,000 |
|
|
Taishin Financial Holding Co. Ltd. (Banks) |
|
1,284,871 |
|
979,600 |
|
|
Taiwan Semiconductor Manufacturing Co. Ltd. ADR (Semiconductors & Semiconductor Equipment) |
|
17,378,104 |
|
5,089,190 |
|
|
Uni-President Enterprises Corp.
(Food, Beverage & Tobacco) |
|
8,939,945 |
|
1,373,000 |
|
|
Vanguard International Semiconductor Corp. (Semiconductors & Semiconductor Equipment) |
|
997,821 |
|
|
|
|
|
|
|
|
|
|
|
|
|
70,910,397 |
|
|
|
Thailand 2.9% |
|
382,700 |
|
|
Advanced Info Service PCL
(Registered) (Telecommunication
Services) |
|
2,697,847 |
|
268,600 |
|
|
Airports of Thailand PCL (Transportation) |
|
949,974 |
|
650,600 |
|
|
Bangkok Bank PCL (Banks) |
|
4,797,991 |
|
310,000 |
|
|
Supalai PCL (Real Estate) |
|
199,550 |
|
3,399,400 |
|
|
Thai Oil PCL (Energy) |
|
8,406,993 |
|
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
|
Description |
|
Value |
|
Common Stocks
(continued) |
|
Thailand (continued) |
|
217,800 |
|
|
Tisco Financial Group PCL (Banks) |
|
$ 383,451 |
|
|
|
|
|
|
|
|
|
|
|
|
|
17,435,806 |
|
|
|
Turkey 6.0% |
|
233,823 |
|
|
Dogus Otomotiv Servis ve Ticaret AS (Retailing) |
|
1,192,576 |
|
111,946 |
|
|
Tofas Turk Otomobil Fabrikasi AS (Automobiles & Components) |
|
675,420 |
|
19,340 |
|
|
Tupras Turkiye Petrol Rafinerileri AS (Energy) |
|
533,478 |
|
2,487,580 |
|
|
Turk Hava Yollari (Transportation)* |
|
9,240,934 |
|
36,039 |
|
|
Turkiye Halk Bankasi AS (Banks) |
|
355,846 |
|
3,380,285 |
|
|
Turkiye Is Bankasi Class C (Banks) |
|
12,490,906 |
|
1,408,192 |
|
|
Turkiye Sinai Kalkinma Bankasi AS (Banks) |
|
1,819,033 |
|
3,022,189 |
|
|
Turkiye Vakiflar Bankasi T.A.O
Class D (Banks) |
|
8,831,334 |
|
249,251 |
|
|
Ulker Biskuvi Sanayi AS (Food,
Beverage & Tobacco) |
|
1,417,205 |
|
|
|
|
|
|
|
|
|
|
|
|
|
36,556,732 |
|
|
|
TOTAL COMMON STOCKS |
|
$ 560,115,681 |
|
|
|
|
|
|
|
|
|
|
Preferred Stocks
5.8% |
|
Brazil 5.2% |
|
225,500 |
|
|
Companhia de Bebidas das Americas Preference Shares ADR (Food, Beverage & Tobacco)(a) |
|
$ 10,612,030 |
|
1,284,100 |
|
|
Itausa Investimentos Itau SA Preference Shares (Banks) |
|
6,499,976 |
|
786,600 |
|
|
Klabin SA Preference Shares (Materials) |
|
5,391,865 |
|
252,700 |
|
|
Petroleo Brasileiro SA Preference Shares (Energy) |
|
2,286,111 |
|
359,100 |
|
|
Vale SA Preference Shares (Materials) |
|
6,958,918 |
|
|
|
|
|
|
|
|
|
|
|
|
|
31,748,900 |
|
|
|
Russia 0.2% |
|
1,009,484 |
|
|
OJSC Surgutneftegas Preference Shares (Energy) |
|
767,541 |
|
87,900 |
|
|
Sberbank of Russia Preference Shares (Banks) |
|
228,496 |
|
|
|
|
|
|
|
|
|
|
|
|
|
996,037 |
|
|
GOLDMAN SACHS STRUCTURED EMERGING MARKETS EQUITY FUND
Schedule of Investments (continued)
January 31, 2013
(Unaudited)
|
|
|
|
|
|
|
|
|
|
Shares |
|
|
Description |
|
Value |
|
Preferred Stocks
(continued) |
|
South Korea 0.4% |
|
4,144 |
|
|
Hyundai Motor Co. Preference Shares (Automobiles & Components) |
|
$ 284,310 |
|
3,147 |
|
|
Samsung Electronics Co. Ltd. Preference Shares (Semiconductors & Semiconductor Equipment) |
|
2,452,263 |
|
|
|
|
|
|
|
|
|
|
|
|
|
2,736,573 |
|
|
|
TOTAL PREFERRED STOCKS |
|
$ 35,481,510 |
|
|
|
|
|
|
|
|
|
|
Exchange Traded Fund 2.0% |
|
Other 2.0% |
|
281,513 |
|
|
Vanguard FTSE Emerging Markets |
|
$ 12,544,219 |
|
|
|
TOTAL INVESTMENTS BEFORE SECURITIES LENDING REINVESTMENT
VEHICLE |
|
$608,141,410 |
|
|
|
|
|
Shares |
|
|
Rate |
|
Value |
|
Securities Lending Reinvestment Vehicle(b)(c) 0.6% |
|
Goldman Sachs Financial Square Money Market Fund FST Shares |
|
3,501,725 |
|
|
0.115% |
|
$ 3,501,725 |
|
|
|
TOTAL INVESTMENTS 100.0% |
|
$611,643,135 |
|
|
|
OTHER ASSETS IN EXCESS OF LIABILITIES
0.0% |
|
121,826 |
|
|
|
NET ASSETS 100.0% |
|
$611,764,961 |
|
|
|
|
|
|
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) |
|
Variable rate security. Interest rate disclosed is that which is in effect at January 31, 2013. |
|
|
(c) |
|
Represents an affiliated issuer. |
|
|
|
|
Investment Abbreviations: |
ADR |
|
American Depositary Receipt |
GDR |
|
Global Depositary Receipt |
|
|
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 STRUCTURED EMERGING MARKETS EQUITY FUND
Schedule of Investments (continued)
January 31, 2013
(Unaudited)
ADDITIONAL INVESTMENT INFORMATION
TAX INFORMATION At January 31, 2013, the Funds
aggregate security unrealized gains and losses based on cost for U.S. federal income tax purposes were as follows:
|
|
|
|
|
|
|
Tax cost |
|
$ |
535,719,988 |
|
|
|
Gross unrealized gain |
|
|
87,605,342 |
|
Gross unrealized loss |
|
|
(11,682,195 |
) |
|
|
Net unrealized security gain |
|
$ |
75,923,147 |
|
|
|
Additional information regarding the Fund is available in the Funds most recent Annual and Semi-Annual Reports
to Shareholders. This information is available on the Securities and Exchange Commissions website (www.sec.gov).
GOLDMAN SACHS STRUCTURED INTERNATIONAL EQUITY FUND
Schedule of Investments
January 31, 2013 (Unaudited)
|
|
|
|
|
|
|
Shares |
|
|
Description |
|
Value |
|
Common Stocks
97.1% |
|
Australia 3.9% |
|
553,391 |
|
|
Adelaide Brighton Ltd. (Materials) |
|
$ 1,956,506 |
|
227,362 |
|
|
Arrium Ltd. (Materials) |
|
227,133 |
|
80,295 |
|
|
Australia & New Zealand Banking Group Ltd. (Banks) |
|
2,230,098 |
|
635,314 |
|
|
AWE Ltd. (Energy)* |
|
845,823 |
|
51,138 |
|
|
BC Iron Ltd. (Materials)(a) |
|
190,356 |
|
120,036 |
|
|
BHP Billiton Ltd. (Materials) |
|
4,721,259 |
|
195,126 |
|
|
BlueScope Steel Ltd. (Materials)* |
|
689,737 |
|
113,443 |
|
|
Cabcharge Australia Ltd. (Commercial & Professional Services) |
|
581,618 |
|
65,041 |
|
|
Caltex Australia Ltd. (Energy) |
|
1,319,751 |
|
96,657 |
|
|
Coca-Cola Amatil Ltd. (Food,
Beverage & Tobacco) |
|
1,394,994 |
|
61,131 |
|
|
Commonwealth Bank of Australia (Banks) |
|
4,112,555 |
|
58,663 |
|
|
Fortescue Metals Group Ltd. (Materials) |
|
287,747 |
|
90,545 |
|
|
GUD Holdings Ltd. (Consumer
Durables & Apparel) |
|
788,073 |
|
108,521 |
|
|
Insurance Australia Group Ltd. (Insurance) |
|
567,805 |
|
6,442 |
|
|
National Australia Bank Ltd. (Banks) |
|
184,079 |
|
132,498 |
|
|
NIB Holdings Ltd. (Insurance) |
|
302,550 |
|
90,297 |
|
|
Ramsay Health Care Ltd.
(Health Care Equipment & Services) |
|
2,781,604 |
|
5,207 |
|
|
Rio Tinto Ltd. (Materials) |
|
361,634 |
|
106,848 |
|
|
Skilled Group Ltd. (Commercial & Professional Services) |
|
309,861 |
|
68,513 |
|
|
Tabcorp Holdings Ltd.
(Consumer Services) |
|
218,054 |
|
15,594 |
|
|
Telstra Corp. Ltd.
(Telecommunication Services) |
|
74,851 |
|
23,993 |
|
|
Treasury Wine Estates Ltd.
(Food, Beverage & Tobacco) |
|
119,078 |
|
42,732 |
|
|
Wesfarmers Ltd. (Food &
Staples Retailing) |
|
1,676,946 |
|
94,374 |
|
|
Westfield Group (REIT) |
|
1,101,339 |
|
475,332 |
|
|
Westfield Retail Trust (REIT) |
|
1,591,855 |
|
277,561 |
|
|
Westpac Banking Corp. (Banks) |
|
8,119,995 |
|
32,794 |
|
|
Woodside Petroleum Ltd. (Energy) |
|
1,214,769 |
|
|
|
|
|
|
|
|
|
|
|
|
|
37,970,070 |
|
|
|
Austria 0.7% |
|
89,486 |
|
|
Erste Group Bank AG (Banks)* |
|
3,011,111 |
|
26,803 |
|
|
Oesterreichische Post AG (Transportation) |
|
1,172,833 |
|
53,879 |
|
|
Raiffeisen Bank International AG (Banks)(a) |
|
2,419,792 |
|
|
|
|
|
|
|
|
|
|
|
|
|
6,603,736 |
|
|
|
|
|
|
|
|
|
Shares |
|
|
Description |
|
Value |
|
Common Stocks
(continued) |
|
Belgium 1.7% |
|
100,162 |
|
|
Anheuser-Busch InBev NV (Food,
Beverage & Tobacco) |
|
$ 8,813,113 |
|
11,930 |
|
|
Galapagos NV (Pharmaceuticals, Biotechnology & Life Sciences)* |
|
287,000 |
|
21,697 |
|
|
Groupe Bruxelles Lambert SA (Diversified Financials) |
|
1,810,855 |
|
80,857 |
|
|
KBC Groep NV (Banks) |
|
3,183,057 |
|
12,297 |
|
|
Solvay SA (Materials) |
|
1,932,030 |
|
|
|
|
|
|
|
|
|
|
|
|
|
16,026,055 |
|
|
|
Bermuda 0.4% |
|
310,493 |
|
|
Catlin Group Ltd. (Insurance) |
|
2,575,620 |
|
157,811 |
|
|
Hiscox Ltd. (Insurance) |
|
1,185,910 |
|
|
|
|
|
|
|
|
|
|
|
|
|
3,761,530 |
|
|
|
Denmark 0.7% |
|
6,693 |
|
|
Carlsberg A/S Class B (Food,
Beverage & Tobacco) |
|
715,941 |
|
9,333 |
|
|
Novo Nordisk A/S Class B (Pharmaceuticals, Biotechnology & Life Sciences) |
|
1,718,132 |
|
96,743 |
|
|
Pandora A/S (Consumer Durables & Apparel)(a) |
|
2,390,569 |
|
4,688 |
|
|
Royal UNIBREW A/S (Food,
Beverage & Tobacco) |
|
435,203 |
|
8,378 |
|
|
Topdanmark A/S (Insurance)* |
|
1,837,418 |
|
|
|
|
|
|
|
|
|
|
|
|
|
7,097,263 |
|
|
|
Finland 0.3% |
|
70,017 |
|
|
Metso OYJ (Capital Goods) |
|
3,130,842 |
|
|
|
France 10.1% |
|
60,410 |
|
|
Accor SA (Consumer Services) |
|
2,358,102 |
|
61,288 |
|
|
AXA SA (Insurance) |
|
1,134,744 |
|
29,983 |
|
|
BNP Paribas SA (Banks) |
|
1,881,264 |
|
4,318 |
|
|
Christian Dior SA (Consumer Durables & Apparel) |
|
754,035 |
|
82,334 |
|
|
Compagnie Generale des Etablissements Michelin Class B (Automobiles & Components) |
|
7,657,352 |
|
161,096 |
|
|
Danone SA (Food, Beverage & Tobacco) |
|
11,164,293 |
|
4,807 |
|
|
Euler Hermes SA (Insurance) |
|
428,773 |
|
33,134 |
|
|
Fonciere Des Regions (REIT) |
|
2,797,483 |
|
2,620 |
|
|
Gecina SA (REIT) |
|
296,760 |
|
10,054 |
|
|
Hermes International (Consumer
Durables & Apparel) |
|
3,267,084 |
|
21,966 |
|
|
JCDecaux SA (Media) |
|
613,537 |
|
271,718 |
|
|
Legrand SA (Capital Goods) |
|
12,327,067 |
|
17,848 |
|
|
M6 Metropole Television SA (Media) |
|
298,705 |
|
129,688 |
|
|
Natixis (Banks) |
|
513,877 |
|
|
GOLDMAN SACHS STRUCTURED INTERNATIONAL EQUITY FUND
Schedule of Investments (continued)
January 31, 2013
(Unaudited)
|
|
|
|
|
|
|
Shares |
|
|
Description |
|
Value |
|
Common Stocks
(continued) |
|
France (continued) |
|
6,208 |
|
|
Nexity SA (Consumer Durables & Apparel) |
|
$ 189,469 |
|
159,708 |
|
|
Sanofi (Pharmaceuticals, Biotechnology & Life Sciences) |
|
15,569,318 |
|
24,635 |
|
|
Schneider Electric SA (Capital Goods) |
|
1,874,175 |
|
297,034 |
|
|
Total SA (Energy) |
|
16,096,954 |
|
2,528 |
|
|
Unibail-Rodamco SE (REIT) |
|
597,042 |
|
331,768 |
|
|
Vinci SA (Capital Goods) |
|
16,888,194 |
|
|
|
|
|
|
|
|
|
|
|
|
|
96,708,228 |
|
|
|
Germany 12.3% |
|
90,762 |
|
|
Allianz SE (Registered) (Insurance) |
|
12,986,874 |
|
50,998 |
|
|
Axel Springer AG (Media) |
|
2,382,572 |
|
205,747 |
|
|
BASF SE (Materials) |
|
20,838,178 |
|
160,873 |
|
|
Bayer AG (Registered) (Pharmaceuticals, Biotechnology & Life Sciences) |
|
15,875,384 |
|
47,585 |
|
|
Bayerische Motoren Werke AG (Automobiles & Components) |
|
4,792,688 |
|
2,228 |
|
|
Bijou Brigitte AG (Consumer
Durables & Apparel) |
|
220,838 |
|
865,675 |
|
|
Commerzbank AG (Banks)* |
|
1,895,466 |
|
45,417 |
|
|
Continental AG (Automobiles & Components) |
|
5,330,167 |
|
46,461 |
|
|
Daimler AG (Registered) (Automobiles & Components) |
|
2,704,130 |
|
326,556 |
|
|
Deutsche Bank AG (Registered) (Diversified Financials) |
|
16,889,281 |
|
108,007 |
|
|
Deutsche Boerse AG
(Diversified Financials) |
|
7,111,968 |
|
113,172 |
|
|
Deutsche Post AG (Registered) (Transportation) |
|
2,657,491 |
|
221,646 |
|
|
Deutsche Telekom AG (Registered) (Telecommunication Services) |
|
2,722,962 |
|
24,612 |
|
|
E.ON SE (Utilities) |
|
427,959 |
|
3,298 |
|
|
Fielmann AG (Retailing) |
|
336,718 |
|
9,158 |
|
|
Henkel AG & Co. KGaA
(Household & Personal Products) |
|
679,333 |
|
23,552 |
|
|
Leoni AG (Automobiles & Components) |
|
1,019,112 |
|
21,177 |
|
|
Merck KGaA (Pharmaceuticals, Biotechnology & Life Sciences) |
|
2,944,288 |
|
11,025 |
|
|
Metro AG |
|
|
|
|
|
|
(Food & Staples Retailing) |
|
340,485 |
|
4,965 |
|
|
Pfeiffer Vacuum Technology AG (Capital Goods) |
|
618,599 |
|
46,219 |
|
|
Rheinmetall AG (Capital Goods) |
|
2,460,333 |
|
117,005 |
|
|
SAP AG (Software & Services) |
|
9,595,258 |
|
|
|
|
|
|
|
|
|
Shares |
|
|
Description |
|
Value |
|
Common Stocks
(continued) |
|
Germany (continued) |
|
19,509 |
|
|
Siemens AG (Registered)
(Capital Goods) |
|
$ 2,137,474 |
|
28,789 |
|
|
SMA Solar Technology AG (Semiconductors & Semiconductor Equipment)(a) |
|
741,708 |
|
|
|
|
|
|
|
|
|
|
|
|
|
117,709,266 |
|
|
|
Hong Kong 1.7% |
|
769,000 |
|
|
AIA Group Ltd. (Insurance) |
|
3,059,173 |
|
88,000 |
|
|
BOC Hong Kong Holdings Ltd. (Banks) |
|
303,662 |
|
177,500 |
|
|
CLP Holdings Ltd. (Utilities) |
|
1,508,283 |
|
12,600 |
|
|
Dairy Farm International Holdings Ltd. (Food & Staples Retailing) |
|
153,720 |
|
128,000 |
|
|
First Pacific Co. Ltd.
(Diversified Financials) |
|
164,860 |
|
29,100 |
|
|
Hang Seng Bank Ltd. (Banks) |
|
476,520 |
|
111,000 |
|
|
Hutchison Whampoa Ltd.
(Capital Goods) |
|
1,240,656 |
|
6,000 |
|
|
Jardine Strategic Holdings Ltd.
(Capital Goods) |
|
229,543 |
|
90,000 |
|
|
KWG Property Holding Ltd.
(Real Estate) |
|
68,298 |
|
1,171,200 |
|
|
MGM China Holdings Ltd.
(Consumer Services) |
|
2,769,525 |
|
45,000 |
|
|
Shimao Property Holdings Ltd.
(Real Estate) |
|
99,507 |
|
122,000 |
|
|
Swire Pacific Ltd. Class A
(Real Estate) |
|
1,565,912 |
|
85,000 |
|
|
Swire Pacific Ltd. Class B
(Real Estate) |
|
207,413 |
|
91,358 |
|
|
The Link REIT (REIT) |
|
474,966 |
|
686,000 |
|
|
Wheelock & Co. Ltd. (Real Estate) |
|
3,865,622 |
|
|
|
|
|
|
|
|
|
|
|
|
|
16,187,660 |
|
|
|
Ireland 0.2% |
|
489,992 |
|
|
Beazley PLC (Insurance) |
|
1,425,253 |
|
40,255 |
|
|
Elan Corp. PLC ADR (Pharmaceuticals, Biotechnology & Life Sciences)* |
|
423,080 |
|
|
|
|
|
|
|
|
|
|
|
|
|
1,848,333 |
|
|
|
Israel 0.5% |
|
126,341 |
|
|
Bank Hapoalim B.M. (Banks)* |
|
532,647 |
|
29,855 |
|
|
Bezeq Israeli Telecommunication Corp. Ltd. (Telecommunication Services) |
|
34,988 |
|
924 |
|
|
Delek Group Ltd. (Energy) |
|
228,247 |
|
42,755 |
|
|
Israel Chemicals Ltd. (Materials) |
|
567,858 |
|
3,649 |
|
|
Mellanox Technologies Ltd. (Semiconductors & Semiconductor Equipment)* |
|
185,331 |
|
|
GOLDMAN SACHS STRUCTURED INTERNATIONAL EQUITY FUND
Schedule of Investments (continued)
January 31, 2013
(Unaudited)
|
|
|
|
|
|
|
Shares |
|
|
Description |
|
Value |
|
Common Stocks
(continued) |
|
Israel (continued) |
|
47,520 |
|
|
Mizrahi Tefahot Bank Ltd. (Banks)* |
|
$ 503,173 |
|
305 |
|
|
NICE Systems Ltd. ADR
(Software & Services)* |
|
11,251 |
|
80,561 |
|
|
Teva Pharmaceutical Industries Ltd. ADR (Pharmaceuticals, Biotechnology & Life Sciences) |
|
3,060,512 |
|
|
|
|
|
|
|
|
|
|
|
|
|
5,124,007 |
|
|
|
Italy 5.4% |
|
787,819 |
|
|
Banca Carige SpA (Banks)(a) |
|
882,435 |
|
42,729 |
|
|
Banca Generali SpA
(Diversified Financials) |
|
818,993 |
|
2,062,652 |
|
|
Banca Monte dei Paschi di Siena SpA (Banks)* |
|
689,009 |
|
650,317 |
|
|
Banca Popolare dellEmilia Romagna Scrl (Banks) |
|
5,744,403 |
|
58,636 |
|
|
Banca Popolare di Sondrio Scarl (Banks) |
|
422,380 |
|
48,117 |
|
|
Credito Emiliano SpA (Banks) |
|
287,845 |
|
2,519,574 |
|
|
Enel SpA (Utilities) |
|
10,985,774 |
|
643,779 |
|
|
Eni SpA (Energy) |
|
16,080,018 |
|
95,184 |
|
|
Geox SpA (Consumer Durables & Apparel)(a) |
|
334,479 |
|
871,751 |
|
|
Impregilo SpA (Capital Goods) |
|
4,521,690 |
|
2,034,466 |
|
|
Intesa Sanpaolo SpA (Banks) |
|
4,146,953 |
|
100,721 |
|
|
Lottomatica Group SpA
(Consumer Services) |
|
2,490,266 |
|
353,434 |
|
|
Saras SpA (Energy)* |
|
476,004 |
|
581,648 |
|
|
UniCredit SpA (Banks)* |
|
3,754,632 |
|
103,072 |
|
|
Unione di Banche Italiane ScpA (Banks) |
|
537,962 |
|
|
|
|
|
|
|
|
|
|
|
|
|
52,172,843 |
|
|
|
Japan 17.0% |
|
20,800 |
|
|
AEON Credit Service Co. Ltd. (Diversified Financials) |
|
431,555 |
|
98,600 |
|
|
Aisin Seiki Co. Ltd. (Automobiles & Components) |
|
3,229,792 |
|
70,000 |
|
|
Amada Co. Ltd. (Capital Goods) |
|
437,467 |
|
10,300 |
|
|
Aoyama Trading Co. Ltd. (Retailing) |
|
202,153 |
|
1,190,000 |
|
|
Aozora Bank Ltd. (Banks) |
|
3,345,567 |
|
1,205,000 |
|
|
Asahi Glass Co. Ltd. (Capital Goods) |
|
7,994,550 |
|
40,000 |
|
|
Asahi Group Holdings Ltd.
(Food, Beverage & Tobacco) |
|
850,108 |
|
23,700 |
|
|
ASKUL Corp. (Retailing) |
|
351,668 |
|
217,100 |
|
|
Brother Industries Ltd.
(Technology Hardware & Equipment) |
|
2,308,370 |
|
41,000 |
|
|
Canon, Inc. (Technology Hardware & Equipment) |
|
1,493,024 |
|
29,000 |
|
|
Century Tokyo Leasing Corp. (Diversified Financials) |
|
647,743 |
|
82,600 |
|
|
Chubu Electric Power Co., Inc. (Utilities) |
|
1,043,375 |
|
|
|
|
|
|
|
|
|
Shares |
|
|
Description |
|
Value |
|
Common Stocks
(continued) |
|
Japan (continued) |
|
25,000 |
|
|
Chugoku Marine Paints Ltd. (Materials) |
|
$ 131,831 |
|
17,800 |
|
|
Cocokara fine, Inc. (Food
& Staples Retailing) |
|
583,623 |
|
12,300 |
|
|
Credit Saison Co. Ltd.
(Diversified Financials) |
|
260,280 |
|
52,000 |
|
|
Dai Nippon Printing Co. Ltd. (Commercial & Professional Services) |
|
420,391 |
|
327,000 |
|
|
Daihatsu Motor Co. Ltd. (Automobiles & Components) |
|
6,802,452 |
|
318,000 |
|
|
Daiichi Sankyo Co. Ltd. (Pharmaceuticals, Biotechnology & Life Sciences) |
|
5,383,893 |
|
437,000 |
|
|
Daiwa Securities Group, Inc. (Diversified Financials) |
|
2,541,768 |
|
662,000 |
|
|
DIC Corp. (Materials) |
|
1,310,664 |
|
84,100 |
|
|
Electric Power Development Co. Ltd. (Utilities) |
|
1,933,541 |
|
19,200 |
|
|
FamilyMart Co. Ltd. (Food
& Staples Retailing) |
|
771,284 |
|
185,000 |
|
|
Fuji Heavy Industries Ltd. (Automobiles & Components) |
|
2,502,075 |
|
6,000 |
|
|
HIS Co. Ltd. (Consumer Services) |
|
204,746 |
|
32,100 |
|
|
Hitachi Capital Corp.
(Diversified Financials) |
|
639,706 |
|
221,000 |
|
|
Hitachi Ltd. (Technology Hardware & Equipment) |
|
1,311,436 |
|
21,200 |
|
|
Hokuriku Electric Power Co. (Utilities) |
|
233,731 |
|
1,393 |
|
|
Inpex Corp. (Energy) |
|
8,065,162 |
|
1,229,000 |
|
|
Isuzu Motors Ltd. (Automobiles & Components) |
|
7,707,691 |
|
186,600 |
|
|
IT Holdings Corp. (Software & Services) |
|
2,651,401 |
|
119,800 |
|
|
Japan Airlines Co. Ltd. (Transportation)* |
|
4,941,945 |
|
337 |
|
|
Japan Prime Realty Investment Corp. (REIT) |
|
958,137 |
|
5,000 |
|
|
JGC Corp. (Capital Goods) |
|
141,744 |
|
55,800 |
|
|
Kao Corp. (Household &
Personal Products) |
|
1,600,673 |
|
717,000 |
|
|
Kawasaki Kisen Kaisha Ltd. (Transportation)* |
|
1,361,259 |
|
22,600 |
|
|
KDDI Corp. (Telecommunication
Services) |
|
1,681,583 |
|
484,000 |
|
|
Kobe Steel Ltd. (Materials) |
|
597,749 |
|
273,000 |
|
|
Konica Minolta Holdings, Inc. (Technology Hardware & Equipment) |
|
2,180,448 |
|
22,800 |
|
|
Kyokuto Securities Co. Ltd. (Diversified Financials) |
|
284,494 |
|
8,000 |
|
|
Maeda Road Construction Co. Ltd. (Capital Goods) |
|
119,226 |
|
3,900 |
|
|
Makita Corp. (Capital Goods) |
|
189,936 |
|
22,200 |
|
|
Matsumotokiyoshi Holdings Co. Ltd. (Food & Staples Retailing) |
|
538,556 |
|
28,500 |
|
|
Mirait Holdings Corp. (Capital Goods) |
|
236,618 |
|
|
GOLDMAN SACHS STRUCTURED INTERNATIONAL EQUITY FUND
Schedule of Investments (continued)
January 31, 2013
(Unaudited)
|
|
|
|
|
|
|
Shares |
|
|
Description |
|
Value |
|
Common Stocks
(continued) |
|
Japan (continued) |
|
548,500 |
|
|
Mitsubishi Chemical Holdings Corp. (Materials) |
|
$ 2,539,788 |
|
118,000 |
|
|
Mitsubishi Heavy Industries Ltd. (Capital Goods) |
|
630,984 |
|
1,431,000 |
|
|
Mitsubishi UFJ Financial Group, Inc. (Banks) |
|
8,138,301 |
|
3,830 |
|
|
Mitsubishi UFJ Lease & Finance Co. Ltd. (Diversified Financials) |
|
174,024 |
|
25,200 |
|
|
Mitsui & Co. Ltd. (Capital Goods) |
|
380,866 |
|
387,300 |
|
|
Mizuho Financial Group, Inc. (Banks) |
|
773,043 |
|
10,000 |
|
|
Nihon Parkerizing Co. Ltd. (Materials) |
|
164,827 |
|
278,000 |
|
|
Nippon Electric Glass Co. Ltd. (Technology Hardware & Equipment) |
|
1,339,789 |
|
445,000 |
|
|
Nippon Express Co. Ltd. (Transportation) |
|
1,836,731 |
|
23,000 |
|
|
Nippon Shokubai Co. Ltd. (Materials) |
|
221,854 |
|
96,000 |
|
|
Nippon Soda Co. Ltd. (Materials) |
|
435,802 |
|
40,200 |
|
|
Nippon Telegraph & Telephone Corp. (Telecommunication Services) |
|
1,683,634 |
|
150,200 |
|
|
Nomura Holdings, Inc.
(Diversified Financials) |
|
859,787 |
|
133,800 |
|
|
Nomura Real Estate Holdings, Inc. (Real Estate) |
|
2,441,605 |
|
268 |
|
|
NTT Data Corp. (Software & Services) |
|
818,160 |
|
856 |
|
|
NTT DoCoMo, Inc. (Telecommunication Services) |
|
1,297,763 |
|
93,000 |
|
|
OKK Corp. (Capital Goods)* |
|
135,223 |
|
3,900 |
|
|
Ono Pharmaceutical Co. Ltd. (Pharmaceuticals, Biotechnology & Life Sciences) |
|
205,472 |
|
16,610 |
|
|
ORIX Corp. (Diversified Financials) |
|
1,776,949 |
|
259,000 |
|
|
Osaka Gas Co. Ltd. (Utilities) |
|
971,531 |
|
1,600 |
|
|
Otsuka Corp. (Software & Services) |
|
130,980 |
|
117,500 |
|
|
Otsuka Holdings Co. Ltd. (Pharmaceuticals, Biotechnology & Life Sciences) |
|
3,790,294 |
|
35,100 |
|
|
Park24 Co. Ltd. (Commercial & Professional Services) |
|
633,572 |
|
12,800 |
|
|
Pola Orbis Holdings, Inc.
(Household & Personal Products) |
|
389,635 |
|
35,900 |
|
|
Rohm Co. Ltd. (Semiconductors & Semiconductor Equipment) |
|
1,193,527 |
|
178,400 |
|
|
Round One Corp. (Consumer
Services) |
|
1,035,546 |
|
45,000 |
|
|
Sekisui Chemical Co. Ltd.
(Consumer Durables & Apparel) |
|
433,561 |
|
|
|
|
|
|
|
|
|
Shares |
|
|
Description |
|
Value |
|
Common Stocks
(continued) |
|
Japan (continued) |
|
35,000 |
|
|
Shinmaywa Industries Ltd. |
|
|
|
|
|
|
(Capital Goods) |
|
$ 232,559 |
|
46,900 |
|
|
Showa Corp. (Automobiles & |
|
|
|
|
|
|
Components) |
|
503,910 |
|
59,000 |
|
|
Softbank Corp. |
|
|
|
|
|
|
(Telecommunication Services) |
|
2,102,272 |
|
50,000 |
|
|
Sumikin Bussan Corp. |
|
|
|
|
|
|
(Capital Goods) |
|
159,346 |
|
170,000 |
|
|
Sumitomo Chemical Co. Ltd. |
|
|
|
|
|
|
(Materials) |
|
497,340 |
|
662,200 |
|
|
Sumitomo Corp. |
|
|
|
|
|
|
(Capital Goods) |
|
8,565,770 |
|
203,500 |
|
|
Sumitomo Electric Industries Ltd. (Capital Goods) |
|
2,290,935 |
|
578,000 |
|
|
Sumitomo Heavy Industries Ltd.
(Capital Goods) |
|
2,550,611 |
|
194,600 |
|
|
Sumitomo Mitsui Financial Group, Inc. (Banks) |
|
7,815,894 |
|
989,000 |
|
|
Sumitomo Mitsui Trust Holdings, Inc. (Banks) |
|
3,652,925 |
|
127,000 |
|
|
Sumitomo Osaka Cement Co. Ltd. (Materials) |
|
425,375 |
|
29,500 |
|
|
Suzuki Motor Corp. (Automobiles & Components) |
|
774,073 |
|
23,800 |
|
|
T&D Holdings, Inc. (Insurance) |
|
293,658 |
|
37,600 |
|
|
Taikisha Ltd. (Capital Goods) |
|
756,559 |
|
191 |
|
|
The Dai-ichi Life Insurance Co. Ltd. (Insurance) |
|
273,713 |
|
58,000 |
|
|
The Eighteenth Bank Ltd. (Banks) |
|
150,903 |
|
101,500 |
|
|
The Kansai Electric Power Co., Inc. (Utilities) |
|
967,050 |
|
79,000 |
|
|
The Nippon Road Co. Ltd.
(Capital Goods) |
|
353,257 |
|
40,000 |
|
|
Tokai Tokyo Financial Holdings, Inc. (Diversified Financials) |
|
200,570 |
|
402,000 |
|
|
Toko, Inc. (Technology Hardware & Equipment)* |
|
965,379 |
|
76,600 |
|
|
Tokyo Ohka Kogyo Co. Ltd. (Materials) |
|
1,490,808 |
|
80,000 |
|
|
Tokyo Tatemono Co. Ltd. (Real Estate) |
|
374,409 |
|
288,000 |
|
|
Tokyu Land Corp. (Real Estate) |
|
2,051,525 |
|
20,000 |
|
|
Toppan Printing Co. Ltd. (Commercial & Professional Services) |
|
124,136 |
|
58,000 |
|
|
Toshiba TEC Corp.
(Technology Hardware & Equipment) |
|
334,609 |
|
8,400 |
|
|
Toyoda Gosei Co. Ltd. (Automobiles & Components) |
|
186,119 |
|
175,500 |
|
|
Toyota Motor Corp. (Automobiles & Components) |
|
8,382,661 |
|
41,900 |
|
|
TSI Holdings Co. Ltd.
(Consumer Durables & Apparel) |
|
223,007 |
|
18,100 |
|
|
Tsukui Corp. (Health Care Equipment & Services) |
|
369,125 |
|
|
GOLDMAN SACHS STRUCTURED INTERNATIONAL EQUITY FUND
Schedule of Investments (continued)
January 31, 2013
(Unaudited)
|
|
|
|
|
|
|
Shares |
|
|
Description |
|
Value |
|
Common Stocks
(continued) |
|
Japan (continued) |
|
8,200 |
|
|
UKC Holdings Corp. (Semiconductors & Semiconductor Equipment) |
|
$ 171,234 |
|
57,000 |
|
|
Uniden Corp. (Technology
Hardware & Equipment) |
|
142,337 |
|
77,000 |
|
|
UNY Co. Ltd. (Food &
Staples Retailing) |
|
570,822 |
|
|
|
|
|
|
|
|
|
|
|
|
|
163,009,554 |
|
|
|
Luxembourg 1.1% |
|
44,253 |
|
|
Aperam (Materials) |
|
641,557 |
|
261,850 |
|
|
SES SA SDR (Media) |
|
8,013,702 |
|
104,234 |
|
|
Tenaris SA (Energy) |
|
2,186,548 |
|
|
|
|
|
|
|
|
|
|
|
|
|
10,841,807 |
|
|
|
Netherlands 2.7% |
|
12,212 |
|
|
ASML Holding NV (Semiconductors & Semiconductor Equipment) |
|
916,085 |
|
34,732 |
|
|
BinckBank NV (Diversified
Financials) |
|
336,182 |
|
165,859 |
|
|
Delta Lloyd NV (Insurance) |
|
3,266,931 |
|
73,023 |
|
|
Heineken Holding NV (Food,
Beverage & Tobacco) |
|
4,314,571 |
|
322,313 |
|
|
ING Groep NV CVA (Diversified
Financials)* |
|
3,259,968 |
|
52,029 |
|
|
Koninklijke Ahold NV (Food
& Staples Retailing) |
|
764,545 |
|
123,956 |
|
|
Royal Dutch Shell PLC Class A (Energy) |
|
4,386,618 |
|
22,363 |
|
|
Royal Dutch Shell PLC Class B (Energy) |
|
812,826 |
|
229,843 |
|
|
TomTom NV (Consumer Durables
& Apparel)*(a) |
|
1,192,046 |
|
159,069 |
|
|
Unilever NV CVA (Food,
Beverage & Tobacco) |
|
6,444,876 |
|
26,355 |
|
|
USG People NV (Commercial & Professional Services) |
|
224,307 |
|
|
|
|
|
|
|
|
|
|
|
|
|
25,918,955 |
|
|
|
Norway 2.3% |
|
181,196 |
|
|
DNB ASA (Banks) |
|
2,538,264 |
|
139,435 |
|
|
Gjensidige Forsikring ASA (Insurance) |
|
2,191,677 |
|
426,134 |
|
|
Statoil ASA (Energy) |
|
11,353,273 |
|
1,630,000 |
|
|
STX OSV Holdings Ltd. (Capital
Goods) |
|
1,659,574 |
|
48,039 |
|
|
Telenor ASA (Telecommunication
Services) |
|
1,058,324 |
|
56,566 |
|
|
Yara International ASA (Materials) |
|
3,016,571 |
|
|
|
|
|
|
|
|
|
|
|
|
|
21,817,683 |
|
|
|
|
|
|
|
|
|
Shares |
|
|
Description |
|
Value |
|
Common Stocks
(continued) |
|
Singapore 2.2% |
|
178,000 |
|
|
Ascott Residence Trust (REIT)(a) |
|
$ 199,130 |
|
166,000 |
|
|
CapitaCommercial Trust (REIT) |
|
223,278 |
|
170,000 |
|
|
ComfortDelGro Corp. Ltd. (Transportation) |
|
265,067 |
|
462,120 |
|
|
DBS Group Holdings Ltd. (Banks) |
|
5,585,273 |
|
47,000 |
|
|
Fortune Real Estate Investment Trust (REIT) |
|
41,458 |
|
190,000 |
|
|
Frasers Commercial Trust (REIT) |
|
204,931 |
|
144,000 |
|
|
Ho Bee Investment Ltd. (Real
Estate) |
|
222,282 |
|
542,000 |
|
|
Hutchison Port Holdings Trust
Class U (Transportation) |
|
444,072 |
|
39,523 |
|
|
Jardine Cycle & Carriage Ltd. (Retailing) |
|
1,615,865 |
|
122,000 |
|
|
Keppel Corp. Ltd. (Capital Goods) |
|
1,133,580 |
|
81,000 |
|
|
Mapletree Logistics Trust (REIT) |
|
76,555 |
|
66,000 |
|
|
OSIM International Ltd. (Retailing) |
|
96,003 |
|
93,000 |
|
|
Oversea-Chinese Banking Corp. Ltd. (Banks) |
|
734,700 |
|
87,000 |
|
|
SembCorp Industries Ltd.
(Capital Goods) |
|
385,354 |
|
116,000 |
|
|
Singapore Airlines Ltd. (Transportation) |
|
1,030,141 |
|
791,780 |
|
|
Singapore Telecommunications Ltd. (Telecommunication Services) |
|
2,237,769 |
|
345,000 |
|
|
Suntec Real Estate Investment Trust (REIT) |
|
472,622 |
|
102,000 |
|
|
United Overseas Bank Ltd. (Banks) |
|
1,553,418 |
|
575,000 |
|
|
UOL Group Ltd. (Real Estate) |
|
2,904,194 |
|
479,000 |
|
|
Wilmar International Ltd.
(Food, Beverage & Tobacco) |
|
1,477,201 |
|
141,000 |
|
|
Wing Tai Holdings Ltd. (Real
Estate) |
|
216,779 |
|
|
|
|
|
|
|
|
|
|
|
|
|
21,119,672 |
|
|
|
Spain 2.2% |
|
17,041 |
|
|
ACS Actividades de Construccion y Servicios SA (Capital Goods) |
|
409,040 |
|
451,278 |
|
|
Amadeus IT Holding SA Class A (Software & Services)(a) |
|
11,308,537 |
|
1,675,769 |
|
|
Banco Popular Espanol SA (Banks) |
|
1,515,416 |
|
215,684 |
|
|
Bankinter SA (Banks)(a) |
|
1,173,895 |
|
92,933 |
|
|
Grifols SA (Pharmaceuticals, Biotechnology & Life Sciences)* |
|
3,163,275 |
|
|
GOLDMAN SACHS STRUCTURED INTERNATIONAL EQUITY FUND
Schedule of Investments (continued)
January 31, 2013
(Unaudited)
|
|
|
|
|
|
|
Shares |
|
|
Description |
|
Value |
|
Common Stocks
(continued) |
|
Spain (continued) |
|
234,506 |
|
|
Telefonica SA |
|
|
|
|
|
|
(Telecommunication Services) |
|
$ 3,394,002 |
|
|
|
|
|
|
|
|
|
|
|
|
|
20,964,165 |
|
|
|
Sweden 1.9% |
|
24,885 |
|
|
Clas Ohlson AB Class B (Retailing) |
|
371,643 |
|
28,756 |
|
|
Electrolux AB Class B
(Consumer Durables & Apparel) |
|
759,483 |
|
28,945 |
|
|
Hexpol AB (Materials) |
|
1,600,886 |
|
21,289 |
|
|
Investment AB Kinnevik Class B (Diversified Financials) |
|
491,703 |
|
796,877 |
|
|
Nordea Bank AB (Banks) |
|
8,789,019 |
|
176,159 |
|
|
Swedbank AB Class A (Banks) |
|
4,159,582 |
|
144,666 |
|
|
Telefonaktiebolaget LM Ericsson
Class B (Technology Hardware & Equipment) |
|
1,682,648 |
|
|
|
|
|
|
|
|
|
|
|
|
|
17,854,964 |
|
|
|
Switzerland 4.6% |
|
14,824 |
|
|
Actelion Ltd. (Registered) (Pharmaceuticals, Biotechnology & Life Sciences)* |
|
734,319 |
|
3,670 |
|
|
EMS-Chemie Holding AG (Materials) |
|
931,827 |
|
2,057 |
|
|
Forbo Holding AG (Registered) (Consumer Durables & Apparel)* |
|
1,381,530 |
|
30,613 |
|
|
Geberit AG (Registered)
(Capital Goods)* |
|
7,161,192 |
|
1,036 |
|
|
Helvetia Holding AG (Registered) (Insurance) |
|
421,947 |
|
142,197 |
|
|
Nestle SA (Registered) (Food,
Beverage & Tobacco) |
|
9,984,716 |
|
104,087 |
|
|
Novartis AG (Registered) (Pharmaceuticals, Biotechnology & Life Sciences) |
|
7,075,466 |
|
128,395 |
|
|
OC Oerlikon Corp. AG (Registered) (Capital Goods)* |
|
1,576,472 |
|
4,713 |
|
|
Pargesa Holding SA
(Diversified Financials) |
|
349,286 |
|
45,710 |
|
|
Roche Holding AG (Pharmaceuticals, Biotechnology & Life Sciences) |
|
10,103,698 |
|
49,436 |
|
|
Swiss Re AG (Insurance)* |
|
3,675,463 |
|
58,427 |
|
|
Xstrata PLC (Materials) |
|
1,094,211 |
|
|
|
|
|
|
|
|
|
|
|
|
|
44,490,127 |
|
|
|
United Kingdom 25.2% |
|
568,510 |
|
|
Aberdeen Asset Management PLC (Diversified Financials) |
|
3,628,363 |
|
84,424 |
|
|
Admiral Group PLC (Insurance) |
|
1,639,455 |
|
|
|
|
|
|
|
|
|
Shares |
|
|
Description |
|
Value |
|
Common Stocks
(continued) |
|
United Kingdom (continued) |
|
203,063 |
|
|
AMEC PLC (Energy) |
|
$ 3,479,469 |
|
237,902 |
|
|
Amlin PLC (Insurance) |
|
1,447,032 |
|
57,935 |
|
|
Anglo American PLC (Materials) |
|
1,732,917 |
|
134,131 |
|
|
AstraZeneca PLC (Pharmaceuticals, Biotechnology & Life Sciences) |
|
6,481,178 |
|
3,342,201 |
|
|
Barclays PLC (Banks) |
|
16,046,112 |
|
776,866 |
|
|
Barratt Developments PLC
(Consumer Durables & Apparel)* |
|
2,680,198 |
|
67,211 |
|
|
Berendsen PLC (Commercial & Professional Services) |
|
650,642 |
|
429,669 |
|
|
BG Group PLC (Energy) |
|
7,626,158 |
|
455,253 |
|
|
BHP Billiton PLC (Materials) |
|
15,611,485 |
|
40,628 |
|
|
Bodycote PLC (Capital Goods) |
|
297,552 |
|
16,159 |
|
|
BP PLC (Energy) |
|
119,617 |
|
93,553 |
|
|
BP PLC ADR (Energy) |
|
4,164,980 |
|
356,545 |
|
|
British American Tobacco PLC (Food, Beverage & Tobacco) |
|
18,530,214 |
|
91,566 |
|
|
Cobham PLC (Capital Goods) |
|
307,382 |
|
281,053 |
|
|
Devro PLC (Food, Beverage & Tobacco) |
|
1,518,968 |
|
158,588 |
|
|
Diageo PLC (Food, Beverage & Tobacco) |
|
4,720,871 |
|
477,348 |
|
|
easyJet PLC (Transportation) |
|
7,043,887 |
|
772,982 |
|
|
Firstgroup PLC (Transportation) |
|
2,378,342 |
|
438,444 |
|
|
GlaxoSmithKline PLC ADR (Pharmaceuticals, Biotechnology & Life Sciences) |
|
19,997,431 |
|
350,468 |
|
|
Hammerson PLC (REIT) |
|
2,697,926 |
|
360,433 |
|
|
Home Retail Group PLC (Retailing)(a) |
|
685,669 |
|
1,445,124 |
|
|
HSBC Holdings PLC (Banks) |
|
16,433,607 |
|
103,735 |
|
|
IMI PLC (Capital Goods) |
|
1,923,282 |
|
79,512 |
|
|
Imperial Tobacco Group PLC
(Food, Beverage & Tobacco) |
|
2,956,590 |
|
57,890 |
|
|
InterContinental Hotels Group PLC (Consumer Services) |
|
1,699,091 |
|
29,100 |
|
|
Keller Group PLC (Capital Goods) |
|
340,446 |
|
467,324 |
|
|
Ladbrokes PLC (Consumer Services) |
|
1,573,479 |
|
76,815 |
|
|
Lancashire Holdings Ltd. (Insurance) |
|
999,263 |
|
151,926 |
|
|
Lavendon Group PLC (Capital Goods) |
|
421,985 |
|
256,719 |
|
|
Legal & General Group PLC (Insurance) |
|
619,955 |
|
222,937 |
|
|
Mondi PLC (Materials) |
|
2,641,318 |
|
702,621 |
|
|
National Grid PLC (Utilities) |
|
7,693,449 |
|
52,732 |
|
|
Next PLC (Retailing) |
|
3,392,199 |
|
41,470 |
|
|
Northgate PLC (Transportation) |
|
209,318 |
|
70,541 |
|
|
Pace PLC (Technology Hardware & Equipment) |
|
252,509 |
|
414,776 |
|
|
Petrofac Ltd. (Energy) |
|
10,760,174 |
|
249,586 |
|
|
QinetiQ Group PLC (Capital Goods) |
|
744,153 |
|
|
GOLDMAN SACHS STRUCTURED INTERNATIONAL EQUITY FUND
Schedule of Investments (continued)
January 31, 2013
(Unaudited)
|
|
|
|
|
|
|
Shares |
|
|
Description |
|
Value |
|
Common Stocks
(continued) |
|
United Kingdom (continued) |
|
208,116 |
|
|
Rio Tinto PLC (Materials) |
|
$ 11,757,361 |
|
33,362 |
|
|
Rotork PLC (Capital Goods) |
|
1,401,071 |
|
132,043 |
|
|
SIG PLC (Capital Goods) |
|
276,437 |
|
530,025 |
|
|
Standard Chartered PLC (Banks) |
|
14,092,602 |
|
19,164 |
|
|
Subsea 7 SA (Energy) |
|
462,939 |
|
792,932 |
|
|
Taylor Wimpey PLC (Consumer
Durables & Apparel) |
|
894,558 |
|
123,463 |
|
|
Tetragon Financial Group Ltd. (Diversified Financials) |
|
1,419,824 |
|
781,174 |
|
|
TUI Travel PLC (Consumer Services) |
|
3,598,440 |
|
42,582 |
|
|
Tullett Prebon PLC
(Diversified Financials) |
|
161,793 |
|
335,847 |
|
|
Tullow Oil PLC (Energy) |
|
6,055,527 |
|
320,342 |
|
|
Unilever PLC (Food, Beverage & Tobacco) |
|
13,048,642 |
|
40,314 |
|
|
Vesuvius PLC (Capital Goods) |
|
231,354 |
|
256,413 |
|
|
Vodafone Group PLC (Telecommunication Services) |
|
699,792 |
|
325,020 |
|
|
Vodafone Group PLC ADR (Telecommunication Services)(b) |
|
8,879,547 |
|
29,170 |
|
|
WH Smith PLC (Retailing)(a) |
|
308,097 |
|
419,367 |
|
|
William Hill PLC |
|
|
|
|
|
|
(Consumer Services) |
|
2,558,346 |
|
20,291 |
|
|
WS Atkins PLC (Commercial & |
|
|
|
|
|
|
Professional Services) |
|
266,843 |
|
|
|
|
|
|
|
|
|
|
|
|
|
242,259,839 |
|
|
|
TOTAL COMMON STOCKS |
|
$ 932,616,599 |
|
|
|
|
|
|
|
|
|
|
Preferred Stocks
1.0% |
|
Germany 1.0% |
|
60,848 |
|
|
Porsche Automobil Holding SE Preference Shares (Automobiles & Components) |
|
$ 5,297,885 |
|
93,631 |
|
|
ProSiebenSat.1 Media AG Preference Shares (Media) |
|
3,193,115 |
|
7,741 |
|
|
RWE AG Preference Shares (Utilities) |
|
272,796 |
|
2,401 |
|
|
Volkswagen AG Preference Shares (Automobiles & Components) |
|
594,429 |
|
|
|
TOTAL PREFERRED STOCKS |
|
$ 9,358,225 |
|
|
|
TOTAL INVESTMENTS BEFORE SECURITIES LENDING
REINVESTMENT VEHICLE |
|
$ 941,974,824 |
|
|
|
|
|
|
|
Shares |
|
Rate |
|
Value |
Securities Lending Reinvestment Vehicle(c)(d) 1.6% |
Goldman Sachs Financial Square Money Market Fund FST Shares |
15,447,119 |
|
0.115% |
|
$ 15,447,119 |
|
TOTAL INVESTMENTS 99.7% |
|
$ 957,421,943 |
|
OTHER ASSETS IN EXCESS OF LIABILITIES
0.3% |
|
2,915,516 |
|
NET ASSETS 100.0% |
|
$ 960,337,459 |
|
|
|
|
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) |
|
All or a portion of security is segregated as collateral for initial margin requirements on futures transactions. |
|
|
(c) |
|
Variable rate security. Interest rate disclosed is that which is in effect at January 31, 2013. |
|
|
(d) |
|
Represents an affiliated issuer. |
|
|
|
|
|
Investment Abbreviations: |
ADR |
|
American Depositary Receipt |
CVA |
|
Dutch Certification |
REIT |
|
Real Estate Investment Trust |
SDR |
|
Swedish Depositary Receipt |
|
|
|
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 STRUCTURED INTERNATIONAL EQUITY FUND
Schedule of Investments (continued)
January 31, 2013
(Unaudited)
ADDITIONAL INVESTMENT INFORMATION
FUTURES CONTRACTS At January 31, 2013 the Fund had the
following futures contracts:
|
|
|
|
|
|
|
|
|
|
|
|
|
Type |
|
Number of Contracts
Long (Short) |
|
Expiration Date |
|
Current Value |
|
|
Unrealized Gain (Loss) |
|
|
|
EURO STOXX 50 Index |
|
188 |
|
March 2013 |
|
$ |
6,920,272 |
|
|
$ |
77,808 |
|
FTSE 100 Index |
|
33 |
|
March 2013 |
|
|
3,276,359 |
|
|
|
144,881 |
|
Hang Seng Index |
|
3 |
|
February 2013 |
|
|
459,860 |
|
|
|
1,498 |
|
MSCI Singapore Index |
|
4 |
|
February 2013 |
|
|
238,129 |
|
|
|
1,016 |
|
SPI 200 Index |
|
13 |
|
March 2013 |
|
|
1,642,019 |
|
|
|
64,650 |
|
TSE TOPIX Index |
|
40 |
|
March 2013 |
|
|
4,100,826 |
|
|
|
329,767 |
|
|
|
TOTAL |
|
|
|
|
|
|
|
|
|
$ |
619,620 |
|
|
|
TAX INFORMATION At January 31, 2013, the Funds aggregate security unrealized gains and losses
based on cost for U.S. federal income tax purposes were as follows:
|
|
|
|
|
|
|
Tax cost |
|
$ |
878,145,439 |
|
|
|
Gross unrealized gain |
|
|
104,557,026 |
|
Gross unrealized loss |
|
|
(25,280,522 |
) |
|
|
Net unrealized security gain |
|
$ |
79,276,504 |
|
|
|
Additional information regarding the Fund is available in the Funds most recent Annual and Semi-Annual Reports
to Shareholders. This information is available on the Securities and Exchange Commissions website (www.sec.gov).
GOLDMAN SACHS STRUCTURED INTERNATIONAL SMALL CAP FUND
Schedule of Investments
January 31, 2013 (Unaudited)
|
|
|
|
|
|
|
|
|
|
Shares |
|
|
Description |
|
Value |
|
Common Stocks
94.1% |
|
Australia 8.7% |
|
496,223 |
|
|
Adelaide Brighton Ltd. (Materials) |
|
$ 1,754,389 |
|
541,973 |
|
|
Ardent Leisure Group (REIT) |
|
877,223 |
|
704,867 |
|
|
Arrium Ltd. (Materials) |
|
704,159 |
|
508,102 |
|
|
Atlas Iron Ltd. (Materials) |
|
787,572 |
|
16,896 |
|
|
Aurora Oil & Gas Ltd. (Energy)* |
|
66,852 |
|
68,554 |
|
|
Ausenco Ltd. (Capital Goods) |
|
254,670 |
|
67,860 |
|
|
Australian Infrastructure Fund (Transportation) |
|
219,370 |
|
79,504 |
|
|
Automotive Holdings Group Ltd. (Retailing) |
|
298,853 |
|
849,485 |
|
|
AWE Ltd. (Energy)* |
|
1,130,959 |
|
46,221 |
|
|
BC Iron Ltd. (Materials)(a) |
|
172,053 |
|
369,807 |
|
|
Beach Energy Ltd. (Energy) |
|
550,913 |
|
279,099 |
|
|
BlueScope Steel Ltd. (Materials)* |
|
986,567 |
|
241,913 |
|
|
Cabcharge Australia Ltd. (Commercial & Professional Services) |
|
1,240,280 |
|
262,594 |
|
|
Charter Hall Group (REIT) |
|
931,953 |
|
695,149 |
|
|
Commonwealth Property Office Fund (REIT) |
|
805,418 |
|
84,410 |
|
|
Envestra Ltd. (Utilities) |
|
85,887 |
|
141,049 |
|
|
Evolution Mining Ltd. (Materials)* |
|
228,288 |
|
179,134 |
|
|
FlexiGroup Ltd. (Diversified Financials) |
|
750,940 |
|
37,780 |
|
|
Forge Group Ltd. (Capital Goods) |
|
233,669 |
|
6,197 |
|
|
GrainCorp Ltd. Class A (Food,
Beverage & Tobacco) |
|
78,062 |
|
219,888 |
|
|
GUD Holdings Ltd. (Consumer Durables & Apparel) |
|
1,913,830 |
|
45,486 |
|
|
iiNET Ltd. (Telecommunication Services) |
|
216,926 |
|
57,560 |
|
|
Imdex Ltd. (Materials) |
|
109,343 |
|
77,775 |
|
|
Investa Office Fund (REIT) |
|
246,099 |
|
47,220 |
|
|
JB Hi-Fi Ltd. (Retailing)(a) |
|
488,341 |
|
20,659 |
|
|
Karoon Gas Australia Ltd. (Energy)* |
|
140,091 |
|
77,347 |
|
|
Kingsrose Mining Ltd. (Materials) |
|
63,726 |
|
6,819 |
|
|
McMillan Shakespeare Ltd. (Commercial & Professional Services) |
|
97,684 |
|
10,086 |
|
|
Medusa Mining Ltd. (Materials) |
|
52,205 |
|
19,903 |
|
|
Mineral Deposits Ltd. (Materials)* |
|
84,922 |
|
13,183 |
|
|
Monadelphous Group Ltd. (Capital Goods) |
|
366,454 |
|
301,134 |
|
|
Northern Star Resources Ltd. (Materials) |
|
349,976 |
|
388,925 |
|
|
NRW Holdings Ltd. (Capital Goods) |
|
779,307 |
|
4,742 |
|
|
Perpetual Ltd. (Diversified Financials) |
|
192,223 |
|
47,443 |
|
|
Primary Health Care Ltd. (Health Care Equipment & Services) |
|
222,937 |
|
99,539 |
|
|
Regis Resources Ltd. (Materials)* |
|
541,195 |
|
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
|
Description |
|
Value |
|
Common Stocks
(continued) |
|
Australia (continued) |
|
244,701 |
|
|
Roc Oil Co. Ltd. (Energy)* |
|
$ 122,804 |
|
1,030,473 |
|
|
Sigma Pharmaceuticals Ltd. (Health Care Equipment & Services) |
|
716,431 |
|
475,826 |
|
|
Skilled Group Ltd. (Commercial & Professional Services) |
|
1,379,905 |
|
782,315 |
|
|
Spark Infrastructure Group (Utilities) |
|
1,432,315 |
|
161,436 |
|
|
STW Communications Group Ltd. (Media) |
|
218,686 |
|
31,506 |
|
|
Wotif.com Holdings Ltd. (Retailing) |
|
191,526 |
|
|
|
|
|
|
|
|
|
|
|
|
|
22,085,003 |
|
|
|
Austria 1.0% |
|
2,893 |
|
|
AMAG Austria Metall AG (Materials)(b) |
|
94,805 |
|
27,667 |
|
|
Conwert Immobilien Invest SE (Real Estate)(a) |
|
375,512 |
|
31,486 |
|
|
Oesterreichische Post AG (Transportation) |
|
1,377,749 |
|
2,449 |
|
|
Rosenbauer International AG (Capital Goods) |
|
158,615 |
|
33,384 |
|
|
S IMMO AG (Real Estate) |
|
212,093 |
|
13,444 |
|
|
Strabag SE (Capital Goods) |
|
364,812 |
|
|
|
|
|
|
|
|
|
|
|
|
|
2,583,586 |
|
|
|
Bahamas 0.0% |
|
517 |
|
|
United International Enterprises
(Food, Beverage & Tobacco) |
|
94,091 |
|
|
|
Belgium 1.1% |
|
2,507 |
|
|
Ackermans & van Haaren NV (Diversified Financials) |
|
232,666 |
|
20,272 |
|
|
Compagnie Maritime Belge SA (Transportation) |
|
415,632 |
|
8,525 |
|
|
EVS Broadcast Equipment SA (Technology Hardware & Equipment) |
|
508,530 |
|
21,870 |
|
|
Galapagos NV (Pharmaceuticals, Biotechnology & Life Sciences)* |
|
526,127 |
|
2,353 |
|
|
Gimv NV (Diversified Financials) |
|
130,672 |
|
6,089 |
|
|
Kinepolis Group NV (Media) |
|
711,960 |
|
8,085 |
|
|
Melexis NV (Semiconductors & Semiconductor Equipment) |
|
153,360 |
|
13,093 |
|
|
Recticel SA (Materials) |
|
101,155 |
|
|
|
|
|
|
|
|
|
|
|
|
|
2,780,102 |
|
|
|
Bermuda 0.3% |
|
74,454 |
|
|
Catlin Group Ltd. (Insurance) |
|
617,615 |
|
9,689 |
|
|
Hiscox Ltd. (Insurance) |
|
72,811 |
|
|
GOLDMAN SACHS STRUCTURED INTERNATIONAL SMALL CAP FUND
Schedule of Investments (continued)
January 31, 2013
(Unaudited)
|
|
|
|
|
|
|
|
|
|
Shares |
|
|
Description |
|
Value |
|
Common Stocks
(continued) |
|
Bermuda (continued) |
|
94,465 |
|
|
Northern Offshore Ltd. (Energy) |
|
$ 170,327 |
|
|
|
|
|
|
|
|
|
|
|
|
|
860,753 |
|
|
|
China 0.2% |
|
21,500 |
|
|
AAC Technologies Holdings, Inc. (Technology Hardware & Equipment) |
|
83,186 |
|
409,000 |
|
|
China Minzhong Food Corp. Ltd. (Food, Beverage & Tobacco)*(a) |
|
330,112 |
|
214,000 |
|
|
Foxconn International Holdings Ltd. (Technology Hardware & Equipment)* |
|
87,871 |
|
205,000 |
|
|
Sateri Holdings Ltd. (Materials) |
|
51,032 |
|
93,000 |
|
|
SITC International Holdings Co. Ltd. (Transportation) |
|
32,609 |
|
|
|
|
|
|
|
|
|
|
|
|
|
584,810 |
|
|
|
Denmark 2.7% |
|
15,477 |
|
|
Chr. Hansen Holding A/S (Materials) |
|
547,445 |
|
16,981 |
|
|
East Asiatic Co. Ltd. A/S
(Food, Beverage & Tobacco) |
|
335,815 |
|
88,819 |
|
|
GN Store Nord A/S (Health Care
Equipment & Services) |
|
1,445,174 |
|
30,739 |
|
|
Pandora A/S (Consumer Durables & Apparel)(a) |
|
759,576 |
|
930 |
|
|
Rockwool International A/S Class B (Capital Goods) |
|
111,446 |
|
13,309 |
|
|
Royal UNIBREW A/S (Food,
Beverage & Tobacco) |
|
1,235,520 |
|
14,252 |
|
|
Schouw & Co. A/S (Capital Goods) |
|
425,379 |
|
8,899 |
|
|
Sydbank A/S (Banks)* |
|
175,399 |
|
8,726 |
|
|
Topdanmark A/S (Insurance)* |
|
1,913,739 |
|
|
|
|
|
|
|
|
|
|
|
|
|
6,949,493 |
|
|
|
Finland 1.4% |
|
7,119 |
|
|
Cramo OYJ (Capital Goods) |
|
98,312 |
|
29,916 |
|
|
Kemira OYJ (Materials) |
|
473,941 |
|
29,966 |
|
|
Ramirent OYJ (Capital Goods) |
|
291,008 |
|
68,122 |
|
|
Rautaruukki OYJ (Materials) |
|
490,008 |
|
24,048 |
|
|
Sanoma OYJ (Media) |
|
243,282 |
|
60,580 |
|
|
Sponda OYJ (Real Estate) |
|
293,196 |
|
75,803 |
|
|
Tieto OYJ (Software & Services) |
|
1,685,822 |
|
|
|
|
|
|
|
|
|
|
|
|
|
3,575,569 |
|
|
|
France 3.5% |
|
5,100 |
|
|
Altamir Amboise (Diversified Financials) |
|
54,221 |
|
47,404 |
|
|
Assystem (Commercial & Professional Services) |
|
1,066,531 |
|
9,937 |
|
|
Boiron SA (Pharmaceuticals, Biotechnology & Life Sciences) |
|
423,123 |
|
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
|
Description |
|
Value |
|
Common Stocks
(continued) |
|
France (continued) |
|
20,806 |
|
|
Cegid Group (Software & Services) |
|
$ 430,536 |
|
10,004 |
|
|
Ciments Francais SA (Materials) |
|
607,587 |
|
36,009 |
|
|
Club Mediterranee SA (Consumer Services)* |
|
682,076 |
|
879 |
|
|
Esso SA Francaise (Energy) |
|
70,393 |
|
19,706 |
|
|
Etablissements Maurel et Prom (Energy) |
|
363,918 |
|
15,171 |
|
|
Euler Hermes SA (Insurance) |
|
1,353,216 |
|
1,081 |
|
|
FFP (Automobiles & Components) |
|
45,971 |
|
12,455 |
|
|
M6 Metropole Television SA (Media) |
|
208,447 |
|
59,708 |
|
|
Maurel & Prom Nigeria SA (Energy)* |
|
212,483 |
|
12,333 |
|
|
Medica SA (Health Care Equipment & Services) |
|
234,943 |
|
24,055 |
|
|
Mercialys SA (REIT) |
|
535,150 |
|
7,220 |
|
|
Neopost SA (Technology Hardware & Equipment)(a) |
|
412,115 |
|
4,362 |
|
|
Nexity SA (Consumer Durables & Apparel) |
|
133,129 |
|
6,733 |
|
|
Parrot SA (Technology Hardware & Equipment)* |
|
260,370 |
|
17,267 |
|
|
Plastic Omnium SA (Automobiles & Components) |
|
675,341 |
|
14,556 |
|
|
Saft Groupe SA (Capital Goods) |
|
393,164 |
|
1,482 |
|
|
SEB SA (Consumer Durables & Apparel) |
|
118,479 |
|
12,283 |
|
|
Societe de la Tour Eiffel (REIT) |
|
757,903 |
|
|
|
|
|
|
|
|
|
|
|
|
|
9,039,096 |
|
|
|
Germany 4.6% |
|
21,663 |
|
|
Aareal Bank AG (Banks)* |
|
516,067 |
|
19,171 |
|
|
ADVA Optical Networking SE (Technology Hardware & Equipment)* |
|
116,995 |
|
11,691 |
|
|
CENTROTEC Sustainable AG (Capital Goods) |
|
245,608 |
|
5,899 |
|
|
Cewe Color Holding AG (Commercial & Professional Services) |
|
261,735 |
|
7,251 |
|
|
Comdirect Bank AG (Banks) |
|
85,261 |
|
6,121 |
|
|
CropEnergies AG (Energy) |
|
50,191 |
|
1,932 |
|
|
Delticom AG (Retailing) |
|
92,896 |
|
21,176 |
|
|
Gerresheimer AG (Pharmaceuticals, Biotechnology & Life Sciences)* |
|
1,088,760 |
|
26,820 |
|
|
Gildemeister AG (Capital Goods) |
|
660,692 |
|
5,653 |
|
|
Grammer AG (Automobiles & Components) |
|
151,162 |
|
21,807 |
|
|
Homag Group AG (Capital Goods)* |
|
320,227 |
|
7,851 |
|
|
KUKA AG (Capital Goods)* |
|
304,562 |
|
17,124 |
|
|
Leoni AG (Automobiles & Components) |
|
740,968 |
|
|
GOLDMAN SACHS STRUCTURED INTERNATIONAL SMALL CAP FUND
Schedule of Investments (continued)
January 31, 2013
(Unaudited)
|
|
|
|
|
|
|
|
|
|
Shares |
|
|
Description |
|
Value |
|
Common Stocks
(continued) |
|
Germany (continued) |
|
6,447 |
|
|
Nemetschek AG (Software & Services) |
|
$ 334,186 |
|
7,038 |
|
|
NORMA Group AG (Capital Goods) |
|
204,576 |
|
7,704 |
|
|
Pfeiffer Vacuum Technology AG (Capital Goods) |
|
959,857 |
|
5,749 |
|
|
R Stahl AG (Capital Goods) |
|
226,335 |
|
53,443 |
|
|
Rheinmetall AG (Capital Goods) |
|
2,844,881 |
|
10,307 |
|
|
Sixt AG (Transportation) |
|
234,326 |
|
49,441 |
|
|
Symrise AG (Materials) |
|
1,747,692 |
|
21,072 |
|
|
Takkt AG (Retailing) |
|
300,851 |
|
1,983 |
|
|
Tipp24 SE (Consumer Services)* |
|
123,856 |
|
|
|
|
|
|
|
|
|
|
|
|
|
11,611,684 |
|
|
|
Hong Kong 2.7% |
|
1,410,000 |
|
|
Bonjour Holdings Ltd. (Retailing) |
|
178,057 |
|
456,000 |
|
|
Brightoil Petroleum Holdings Ltd. (Energy) |
|
88,812 |
|
346,000 |
|
|
Chen Hsong Holdings (Capital Goods) |
|
114,256 |
|
31,000 |
|
|
Chow Sang Sang Holdings International Ltd. (Retailing) |
|
82,083 |
|
451,500 |
|
|
Dickson Concepts International Ltd. (Retailing) |
|
254,206 |
|
248,000 |
|
|
Dorsett Hospitality International Ltd. (Consumer Services) |
|
66,513 |
|
938,000 |
|
|
Emperor International Holdings (Real Estate) |
|
293,999 |
|
610,000 |
|
|
Emperor Watch & Jewellery Ltd. (Retailing) |
|
75,540 |
|
348,815 |
|
|
Esprit Holdings Ltd. (Retailing) |
|
485,209 |
|
324,000 |
|
|
Giordano International Ltd. (Retailing) |
|
329,105 |
|
174,000 |
|
|
Glorious Sun Enterprises Ltd. (Consumer Durables & Apparel) |
|
53,184 |
|
90,932 |
|
|
Great Eagle Holdings Ltd. (Real Estate) |
|
353,115 |
|
538,100 |
|
|
HKR International Ltd. (Real Estate) |
|
311,472 |
|
274,000 |
|
|
Hutchison Telecommunications Hong Kong Holdings Ltd. (Telecommunication Services) |
|
124,031 |
|
116,000 |
|
|
IT Ltd. (Retailing) |
|
50,387 |
|
201,500 |
|
|
Johnson Electric Holdings Ltd. (Capital Goods) |
|
142,335 |
|
47,000 |
|
|
Luk Fook Holdings International Ltd. (Retailing) |
|
164,795 |
|
258,800 |
|
|
Man Wah Holdings Ltd. (Consumer Durables & Apparel) |
|
238,049 |
|
15,000 |
|
|
Melco International Development Ltd. (Consumer Services) |
|
24,189 |
|
126,000 |
|
|
Newocean Energy Holdings Ltd. (Energy) |
|
64,351 |
|
184,000 |
|
|
Norstar Founders Group Ltd. (Automobiles & Components)* |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
|
Description |
|
Value |
|
Common Stocks
(continued) |
|
Hong Kong (continued) |
|
255,000 |
|
|
Pacific Basin Shipping Ltd. (Transportation) |
|
$ 148,355 |
|
375,000 |
|
|
Pacific Textile Holdings Ltd. (Consumer Durables & Apparel) |
|
337,689 |
|
850,000 |
|
|
Pico Far East Holdings Ltd. (Media) |
|
233,569 |
|
611,000 |
|
|
Prosperity REIT (REIT) |
|
196,930 |
|
210,000 |
|
|
Regal Hotels International Holdings Ltd. (Consumer Services) |
|
105,319 |
|
43,000 |
|
|
Regal Real Estate Investment Trust (REIT) |
|
12,541 |
|
1,008,000 |
|
|
Singamas Container Holdings Ltd. (Capital Goods) |
|
290,955 |
|
11,668 |
|
|
SmarTone Telecommunications Holdings Ltd. (Telecommunication Services) |
|
20,820 |
|
109,138 |
|
|
SOCAM Development Ltd. (Capital Goods) |
|
131,631 |
|
405,000 |
|
|
Sunlight Real Estate Investment Trust (REIT) |
|
180,645 |
|
338,500 |
|
|
Techtronic Industries Co. (Consumer Durables & Apparel) |
|
686,227 |
|
10,000 |
|
|
Television Broadcasts Ltd. (Media) |
|
73,753 |
|
284,000 |
|
|
Texwinca Holdings Ltd.
(Consumer Durables & Apparel) |
|
267,176 |
|
50,000 |
|
|
The United Laboratories International Holdings Ltd. (Pharmaceuticals, Biotechnology & Life Sciences)* |
|
22,890 |
|
100,000 |
|
|
Tian An China Investments Co. Ltd. (Real Estate) |
|
67,437 |
|
170,000 |
|
|
Truly International Holdings (Technology Hardware & Equipment) |
|
55,024 |
|
778,000 |
|
|
VST Holdings Ltd. (Technology Hardware & Equipment) |
|
192,369 |
|
42,300 |
|
|
VTech Holdings Ltd.
(Technology Hardware & Equipment) |
|
487,424 |
|
|
|
|
|
|
|
|
|
|
|
|
|
7,004,442 |
|
|
|
Ireland 0.3% |
|
6,453 |
|
|
FBD Holdings PLC (Insurance) |
|
95,505 |
|
41,746 |
|
|
Grafton Group PLC (Capital Goods) |
|
244,684 |
|
367,051 |
|
|
Total Produce PLC (Food & Staples Retailing) |
|
298,325 |
|
|
|
|
|
|
|
|
|
|
|
|
|
638,514 |
|
|
|
Israel 0.9% |
|
14,949 |
|
|
Africa-Israel Investments Ltd. (Real Estate)* |
|
36,440 |
|
1,743 |
|
|
Airport City Ltd. (Real Estate)* |
|
8,111 |
|
39,560 |
|
|
Alony Hetz Properties & Investments Ltd. (REIT) |
|
248,647 |
|
|
GOLDMAN SACHS STRUCTURED INTERNATIONAL SMALL CAP FUND
Schedule of Investments (continued)
January 31, 2013
(Unaudited)
|
|
|
|
|
|
|
|
|
|
Shares |
|
|
Description |
|
Value |
|
Common Stocks
(continued) |
|
Israel (continued) |
|
2,359 |
|
|
AL-ROV (Israel) Ltd. (Real Estate)* |
|
$ 61,076 |
|
33,206 |
|
|
Amot Investments Ltd. (Real Estate) |
|
85,245 |
|
776 |
|
|
Babylon Ltd. (Software & Services) |
|
5,147 |
|
254 |
|
|
Bayside Land Corp. (Real Estate) |
|
50,561 |
|
16,372 |
|
|
Clal Industries Ltd. (Capital Goods) |
|
57,887 |
|
2,646 |
|
|
Clal Insurance Enterprises Holdings Ltd. (Insurance) |
|
39,677 |
|
1,840 |
|
|
Delek Automotive Systems Ltd. (Retailing) |
|
16,940 |
|
1,147 |
|
|
Elbit Systems Ltd. (Capital Goods) |
|
44,096 |
|
6,639 |
|
|
First International Bank Of Israel Ltd. (Banks)* |
|
89,823 |
|
7,228 |
|
|
Frutarom Industries Ltd. (Materials) |
|
91,767 |
|
8,667 |
|
|
Gazit-Globe Ltd. (Real Estate) |
|
111,001 |
|
624 |
|
|
Harel Insurance Investments & Financial Services Ltd. (Insurance) |
|
27,176 |
|
79,766 |
|
|
Israel Discount Bank Ltd. Class A (Banks)* |
|
133,568 |
|
1,133 |
|
|
Ituran Location and Control Ltd. (Technology Hardware & Equipment) |
|
16,154 |
|
3,425 |
|
|
JOEL-Jerusalem Oil Exploration
(Real Estate)* |
|
69,759 |
|
5,770 |
|
|
Jerusalem Economy Ltd. (Real Estate)* |
|
32,924 |
|
5,716 |
|
|
Koor Industries Ltd. (Capital Goods)* |
|
86,976 |
|
9,692 |
|
|
Matrix IT Ltd. (Software & Services) |
|
44,447 |
|
2,507 |
|
|
Melisron Ltd. (Real Estate) |
|
48,549 |
|
1,590 |
|
|
Naphtha Israel Petroleum Corp. Ltd. (Energy)* |
|
7,249 |
|
4,433 |
|
|
Nitsba Holdings 1995 Ltd.
(Real Estate)* |
|
40,015 |
|
184,635 |
|
|
Oil Refineries Ltd. (Energy)* |
|
94,727 |
|
42,629 |
|
|
Ormat Industries Ltd. (Capital Goods)* |
|
251,783 |
|
30,146 |
|
|
Partner Communications Co. Ltd. (Telecommunication Services) |
|
173,658 |
|
818 |
|
|
Paz Oil Co. Ltd. (Energy)* |
|
122,111 |
|
5,114 |
|
|
Rami Levi Chain Stores Hashikma Marketing 2006 Ltd. (Food & Staples Retailing) |
|
186,553 |
|
1,738 |
|
|
Retalix Ltd. (Software & Services)* |
|
51,987 |
|
5,135 |
|
|
Shikun & Binui Ltd. (Capital Goods) |
|
9,699 |
|
7,048 |
|
|
Shufersal Ltd. (Food & Staples Retailing) |
|
21,623 |
|
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
|
Description |
|
Value |
|
Common Stocks
(continued) |
|
Israel (continued) |
|
15,646 |
|
|
Union Bank of Israel Ltd. (Banks)* |
|
$ 55,453 |
|
|
|
|
|
|
|
|
|
|
|
|
|
2,420,829 |
|
|
|
Italy 5.8% |
|
7,938 |
|
|
Ansaldo STS SpA (Transportation) |
|
81,713 |
|
103,579 |
|
|
ASTM SpA (Transportation)(a) |
|
1,162,236 |
|
3,340 |
|
|
Azimut Holding SpA (Diversified Financials) |
|
58,751 |
|
438,732 |
|
|
Banca Carige SpA (Banks)(a) |
|
491,423 |
|
26,122 |
|
|
Banca Generali SpA (Diversified Financials) |
|
500,684 |
|
10,543 |
|
|
Banca IFIS SpA (Diversified Financials) |
|
96,199 |
|
23,048 |
|
|
Banca Popolare dellEmilia Romagna Scrl (Banks) |
|
203,588 |
|
299,342 |
|
|
Banca Popolare di Sondrio Scarl (Banks) |
|
2,156,285 |
|
6,535 |
|
|
Brunello Cucinelli SpA (Consumer Durables & Apparel)* |
|
131,308 |
|
84,378 |
|
|
Cairo Communication SpA (Media) |
|
302,919 |
|
88,854 |
|
|
Credito Emiliano SpA (Banks) |
|
531,542 |
|
31,345 |
|
|
Danieli & C. Officine Meccaniche SpA (Capital Goods) |
|
969,345 |
|
135,401 |
|
|
Danieli & C. Officine Meccaniche SpA RSP (Capital Goods) |
|
2,525,444 |
|
86,101 |
|
|
DeLonghi SpA (Consumer Durables & Apparel) |
|
1,390,442 |
|
167,341 |
|
|
Impregilo SpA (Capital Goods) |
|
867,982 |
|
43,677 |
|
|
Indesit Co. SpA (Consumer Durables & Apparel) |
|
367,056 |
|
62,280 |
|
|
Lottomatica Group SpA (Consumer Services) |
|
1,539,835 |
|
14,300 |
|
|
MARR SpA (Food & Staples Retailing) |
|
160,202 |
|
71,800 |
|
|
Saras SpA (Energy)* |
|
96,700 |
|
117,041 |
|
|
Societa Iniziative Autostradali e Servizi SpA (Transportation) |
|
1,175,205 |
|
|
|
|
|
|
|
|
|
|
|
|
|
14,808,859 |
|
|
|
Japan 24.3% |
|
9,600 |
|
|
Ai Holdings Corp. (Technology Hardware & Equipment) |
|
79,893 |
|
8,300 |
|
|
Aichi Corp. (Capital Goods) |
|
45,353 |
|
18,500 |
|
|
Aida Engineering Ltd. (Capital Goods) |
|
140,127 |
|
22,100 |
|
|
Aisan Industry Co. Ltd. (Automobiles & Components) |
|
186,279 |
|
32,600 |
|
|
Alpen Co. Ltd. (Retailing) |
|
594,381 |
|
40,600 |
|
|
Amano Corp. (Technology Hardware & Equipment) |
|
365,552 |
|
33,700 |
|
|
Aoyama Trading Co. Ltd. (Retailing) |
|
661,412 |
|
|
GOLDMAN SACHS STRUCTURED INTERNATIONAL SMALL CAP FUND
Schedule of Investments (continued)
January 31, 2013
(Unaudited)
|
|
|
|
|
|
|
|
|
|
Shares |
|
|
Description |
|
Value |
|
Common Stocks
(continued) |
|
Japan (continued) |
|
32,900 |
|
|
Arcs Co. Ltd. (Food & Staples Retailing) |
|
$ 616,219 |
|
29,500 |
|
|
Arnest One Corp. (Consumer Durables & Apparel) |
|
472,016 |
|
18,100 |
|
|
ASKUL Corp. (Retailing) |
|
268,574 |
|
7,700 |
|
|
Autobacs Seven Co. Ltd. (Retailing) |
|
313,228 |
|
7,800 |
|
|
Avex Group Holdings, Inc. (Media) |
|
210,828 |
|
16,400 |
|
|
Bank of the Ryukyus Ltd. (Banks) |
|
204,438 |
|
29,200 |
|
|
Belluna Co. Ltd. (Retailing) |
|
218,627 |
|
10,600 |
|
|
C. Uyemura & Co. Ltd. (Materials) |
|
346,475 |
|
18,100 |
|
|
Century Tokyo Leasing Corp. (Diversified Financials) |
|
404,281 |
|
12,700 |
|
|
Chiyoda Co. Ltd. (Retailing) |
|
293,996 |
|
6,600 |
|
|
Chiyoda Integre Co. Ltd. (Capital Goods) |
|
69,766 |
|
5,300 |
|
|
Chori Co. Ltd. (Retailing) |
|
57,357 |
|
15,000 |
|
|
Chugoku Marine Paints Ltd. (Materials) |
|
79,098 |
|
2,800 |
|
|
CMIC Holdings Co. Ltd. (Pharmaceuticals, Biotechnology & Life Sciences) |
|
42,743 |
|
23,400 |
|
|
Coca-Cola Central Japan Co. Ltd.
(Food, Beverage & Tobacco) |
|
313,538 |
|
11,600 |
|
|
Cocokara fine, Inc. (Food & Staples Retailing) |
|
380,339 |
|
38 |
|
|
CyberAgent, Inc. (Media) |
|
79,686 |
|
21,500 |
|
|
Daifuku Co. Ltd. (Capital Goods) |
|
143,383 |
|
101,900 |
|
|
Daiichikosho Co. Ltd. (Media) |
|
2,490,530 |
|
168,000 |
|
|
Daikyo, Inc. (Real Estate) |
|
449,861 |
|
13,000 |
|
|
Dainichiseika Color & Chemicals Manufacturing Co. Ltd. (Materials) |
|
59,919 |
|
47,000 |
|
|
Daiwa Industries Ltd. (Capital Goods) |
|
258,971 |
|
13,000 |
|
|
Denki Kogyo Co. Ltd. (Technology Hardware & Equipment) |
|
55,619 |
|
17,400 |
|
|
Denyo Co. Ltd. (Capital Goods) |
|
210,670 |
|
258,000 |
|
|
DIC Corp. (Materials) |
|
510,803 |
|
40,500 |
|
|
DTS Corp. (Software & Services) |
|
512,823 |
|
12,700 |
|
|
Dunlop Sports Co. Ltd.
(Consumer Durables & Apparel) |
|
140,321 |
|
11,100 |
|
|
Dydo Drinco, Inc. (Food, Beverage & Tobacco) |
|
447,085 |
|
70,000 |
|
|
Ebara Corp. (Capital Goods) |
|
273,775 |
|
6,900 |
|
|
Foster Electric Co. Ltd.
(Consumer Durables & Apparel) |
|
108,636 |
|
76,300 |
|
|
Fuji Machine Manufacturing Co. Ltd. (Capital Goods) |
|
595,639 |
|
9,900 |
|
|
Fuji Oil Co. Ltd. (Food, Beverage & Tobacco) |
|
134,493 |
|
34,000 |
|
|
Fujibo Holdings, Inc. (Consumer Durables & Apparel) |
|
111,572 |
|
50,000 |
|
|
Fujikura Ltd. (Capital Goods) |
|
155,525 |
|
2,600 |
|
|
Fujimi, Inc. (Materials) |
|
44,587 |
|
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
|
Description |
|
Value |
|
Common Stocks
(continued) |
|
Japan (continued) |
|
8,900 |
|
|
FUJISOFT, Inc. (Software & Services) |
|
$ 188,228 |
|
384 |
|
|
Geo Holdings Corp. (Retailing) |
|
385,089 |
|
164 |
|
|
Global One Real Estate Investment Corp. (REIT) |
|
1,019,472 |
|
22,400 |
|
|
Glory Ltd. (Capital Goods) |
|
524,630 |
|
9,600 |
|
|
G-Tekt Corp. (Automobiles & Components) |
|
227,616 |
|
12,120 |
|
|
Gulliver International Co. Ltd. (Retailing) |
|
514,689 |
|
2,300 |
|
|
Hajime Construction Co. Ltd.
(Consumer Durables & Apparel) |
|
97,830 |
|
27,700 |
|
|
Hakuto Co. Ltd. (Technology Hardware & Equipment) |
|
254,707 |
|
17,300 |
|
|
Heiwa Real Estate Co. Ltd. (Real Estate) |
|
234,040 |
|
340 |
|
|
Heiwa Real Estate REIT, Inc. (REIT) |
|
245,396 |
|
27,700 |
|
|
HIS Co. Ltd. (Consumer Services) |
|
945,242 |
|
73,700 |
|
|
Hitachi Capital Corp. (Diversified Financials) |
|
1,468,733 |
|
38,900 |
|
|
Hitachi Koki Co. Ltd. (Capital Goods) |
|
311,151 |
|
2,300 |
|
|
Hogy Medical Co. Ltd.
(Health Care Equipment & Services) |
|
110,853 |
|
8,300 |
|
|
Hoshizaki Electric Co. Ltd. (Capital Goods) |
|
246,799 |
|
36,000 |
|
|
IBJ Leasing Co. Ltd. (Diversified Financials) |
|
965,671 |
|
13,700 |
|
|
Ichiyoshi Securities Co. Ltd. (Diversified Financials) |
|
113,076 |
|
6,500 |
|
|
Iida Home Max (Real Estate) |
|
84,656 |
|
69,200 |
|
|
Inabata & Co. Ltd. (Capital Goods) |
|
466,885 |
|
29,100 |
|
|
IT Holdings Corp. (Software & Services) |
|
413,482 |
|
46,000 |
|
|
Jaccs Co. Ltd. (Diversified Financials) |
|
234,836 |
|
11,400 |
|
|
Jafco Co. Ltd. (Diversified Financials) |
|
394,687 |
|
24,000 |
|
|
Japan Aviation Electronics Industry Ltd. (Technology Hardware & Equipment) |
|
175,716 |
|
6,200 |
|
|
Japan Digital Laboratory Co. Ltd. (Technology Hardware & Equipment) |
|
70,375 |
|
40 |
|
|
Japan Logistics Fund, Inc. (REIT) |
|
354,860 |
|
21,600 |
|
|
Japan Securities Finance Co. Ltd. (Diversified Financials) |
|
148,434 |
|
88,200 |
|
|
JVC Kenwood Corp. (Consumer Durables & Apparel) |
|
305,533 |
|
23,700 |
|
|
Kaga Electronics Co. Ltd. (Technology Hardware & Equipment) |
|
199,134 |
|
31,000 |
|
|
Kamei Corp. (Capital Goods) |
|
269,384 |
|
38,600 |
|
|
Kasumi Co. Ltd. (Food & Staples Retailing) |
|
244,448 |
|
818,000 |
|
|
Kawasaki Kisen Kaisha Ltd. (Transportation)* |
|
1,553,012 |
|
|
GOLDMAN SACHS STRUCTURED INTERNATIONAL SMALL CAP FUND
Schedule of Investments (continued)
January 31, 2013
(Unaudited)
|
|
|
|
|
|
|
|
|
|
Shares |
|
|
Description |
|
Value |
|
Common Stocks
(continued) |
|
Japan (continued) |
|
16,600 |
|
|
Keihin Corp. (Automobiles & Components) |
|
$ 230,619 |
|
27 |
|
|
Kenedix Realty Investment Corp. (REIT) |
|
105,733 |
|
548 |
|
|
Kenedix, Inc. (Real Estate)* |
|
171,200 |
|
40,000 |
|
|
Kinki Sharyo Co. Ltd. (Capital Goods) |
|
137,782 |
|
26,000 |
|
|
Kitz Corp. (Capital Goods) |
|
133,930 |
|
20,300 |
|
|
Komori Corp. (Capital Goods) |
|
221,920 |
|
126,000 |
|
|
Kurabo Industries Ltd. (Consumer Durables & Apparel) |
|
213,266 |
|
59,600 |
|
|
Kuroda Electric Co. Ltd. (Capital Goods) |
|
727,901 |
|
4,400 |
|
|
Kyokuto Kaihatsu Kogyo Co. Ltd. (Capital Goods) |
|
49,576 |
|
82,300 |
|
|
KYORIN Holdings, Inc. (Pharmaceuticals, Biotechnology & Life Sciences) |
|
1,675,761 |
|
2,900 |
|
|
Kyoritsu Maintenance Co. Ltd. (Consumer Services) |
|
71,412 |
|
20,200 |
|
|
Lifenet Insurance Co. (Insurance)* |
|
184,008 |
|
5,000 |
|
|
Maeda Road Construction Co. Ltd. (Capital Goods) |
|
74,516 |
|
43,000 |
|
|
Makino Milling Machine Co. Ltd. (Capital Goods) |
|
273,677 |
|
43,000 |
|
|
Marudai Food Co. Ltd. (Food, Beverage & Tobacco) |
|
142,252 |
|
36,000 |
|
|
Maruzen Showa Unyu Co. Ltd. (Transportation) |
|
104,057 |
|
22,900 |
|
|
Matsumotokiyoshi Holdings Co. Ltd. (Food & Staples Retailing) |
|
555,538 |
|
5,000 |
|
|
Max Co. Ltd. (Capital Goods) |
|
59,672 |
|
474 |
|
|
MID REIT, Inc. (REIT) |
|
1,162,799 |
|
32,000 |
|
|
Mirait Holdings Corp. (Capital Goods) |
|
265,676 |
|
7,700 |
|
|
Mitsubishi Pencil Co. Ltd. (Commercial & Professional Services) |
|
132,231 |
|
127,000 |
|
|
Mitsubishi Steel Manufacturing Co. Ltd. (Materials) |
|
248,525 |
|
6,200 |
|
|
Mitsui High-Tec, Inc. (Semiconductors & Semiconductor Equipment) |
|
45,300 |
|
26,000 |
|
|
Mitsui Matsushima Co. Ltd. (Capital Goods) |
|
70,903 |
|
41,000 |
|
|
Mitsui Sugar Co. Ltd. (Food, Beverage & Tobacco) |
|
129,532 |
|
16,300 |
|
|
Mori Seiki Co. Ltd. (Capital Goods) |
|
153,334 |
|
28,000 |
|
|
Morinaga Milk Industry Co. Ltd. (Food, Beverage & Tobacco) |
|
89,947 |
|
21,100 |
|
|
Moshi Moshi Hotline, Inc. (Commercial & Professional Services) |
|
308,419 |
|
113,800 |
|
|
Namura Shipbuilding Co. Ltd. (Capital Goods) |
|
478,918 |
|
11,500 |
|
|
NEC Fielding Ltd. (Software & Services) |
|
137,734 |
|
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
|
Description |
|
Value |
|
Common Stocks
(continued) |
|
Japan (continued) |
|
11,700 |
|
|
NEC Networks & System Integration Corp. (Software & Services) |
|
$ 219,787 |
|
25,600 |
|
|
Nichiha Corp. (Capital Goods) |
|
370,664 |
|
25,000 |
|
|
Nichirei Corp. (Food, Beverage & Tobacco) |
|
124,206 |
|
14,000 |
|
|
Nippo Corp. (Capital Goods) |
|
187,755 |
|
28,000 |
|
|
Nippon Beet Sugar Manufacturing Co. Ltd. (Food, Beverage & Tobacco) |
|
53,441 |
|
27,800 |
|
|
Nippon Konpo Unyu Soko Co. Ltd. (Transportation) |
|
385,925 |
|
114,600 |
|
|
Nippon Light Metal Holdings Co. Ltd. (Materials)* |
|
131,606 |
|
51,000 |
|
|
Nippon Paint Co. Ltd. (Materials) |
|
458,328 |
|
21,000 |
|
|
Nippon Seiki Co. Ltd. (Automobiles & Components) |
|
249,411 |
|
51,000 |
|
|
Nippon Shokubai Co. Ltd. (Materials) |
|
491,938 |
|
134,000 |
|
|
Nippon Soda Co. Ltd. (Materials) |
|
608,307 |
|
46,000 |
|
|
Nippon Thompson Co. Ltd. (Capital Goods) |
|
181,236 |
|
134,000 |
|
|
Nishimatsu Construction Co. Ltd. (Capital Goods) |
|
249,322 |
|
15,000 |
|
|
Nisshinbo Holdings, Inc. (Capital Goods) |
|
113,884 |
|
27,000 |
|
|
Nissin Corp. (Transportation) |
|
66,477 |
|
19,000 |
|
|
Nitto Kogyo Corp. (Capital Goods) |
|
257,904 |
|
39,000 |
|
|
NOF Corp. (Materials) |
|
179,427 |
|
20,400 |
|
|
Noritz Corp. (Capital Goods) |
|
365,835 |
|
830 |
|
|
Obic Co. Ltd. (Software & Services) |
|
177,548 |
|
8,000 |
|
|
Okuwa Co. Ltd. (Food & Staples Retailing) |
|
93,068 |
|
8,700 |
|
|
Osaka Steel Co. Ltd. (Materials) |
|
149,661 |
|
44,700 |
|
|
OSG Corp. (Capital Goods) |
|
581,584 |
|
17,200 |
|
|
Otsuka Kagu Ltd. (Retailing) |
|
149,344 |
|
15,800 |
|
|
Parco Co. Ltd. (Retailing) |
|
163,981 |
|
75 |
|
|
Pasona Group, Inc. (Commercial & Professional Services) |
|
37,698 |
|
22,300 |
|
|
Pola Orbis Holdings, Inc. (Household & Personal Products) |
|
678,818 |
|
5,200 |
|
|
Relo Holdings, Inc. (Real Estate) |
|
191,891 |
|
13,200 |
|
|
Resorttrust, Inc. (Consumer Services) |
|
286,841 |
|
4,400 |
|
|
Ricoh Leasing Co. Ltd. (Diversified Financials) |
|
120,680 |
|
22,300 |
|
|
Riso Kagaku Corp. (Technology Hardware & Equipment) |
|
442,198 |
|
206,700 |
|
|
Round One Corp. (Consumer Services) |
|
1,199,816 |
|
102,000 |
|
|
Ryobi Ltd. (Capital Goods) |
|
256,018 |
|
5,600 |
|
|
Ryohin Keikaku Co. Ltd. (Retailing) |
|
317,158 |
|
4,100 |
|
|
Sakata Seed Corp. (Food, Beverage & Tobacco) |
|
49,261 |
|
|
GOLDMAN SACHS STRUCTURED INTERNATIONAL SMALL CAP FUND
Schedule of Investments (continued)
January 31, 2013
(Unaudited)
|
|
|
|
|
|
|
|
|
|
Shares |
|
|
Description |
|
Value |
|
Common Stocks
(continued) |
|
Japan (continued) |
|
86,000 |
|
|
San-Ai Oil Co. Ltd. (Energy) |
|
$ 373,619 |
|
25,800 |
|
|
Sanshin Electronics Co. Ltd. (Technology Hardware & Equipment) |
|
174,967 |
|
17,000 |
|
|
Sanyo Chemical Industries Ltd. (Materials) |
|
95,540 |
|
20,000 |
|
|
Sanyo Shokai Ltd. (Consumer Durables & Apparel) |
|
54,654 |
|
75,000 |
|
|
Seika Corp. (Capital Goods) |
|
210,776 |
|
3,500 |
|
|
Seikagaku Corp. (Pharmaceuticals, Biotechnology & Life Sciences) |
|
38,312 |
|
276 |
|
|
Sekisui House SI Investment Co. (REIT) |
|
1,332,151 |
|
31,000 |
|
|
Sekisui Plastics Co. Ltd. (Materials) |
|
75,351 |
|
14,100 |
|
|
Shinko Electric Industries Co. Ltd. (Semiconductors & Semiconductor Equipment) |
|
107,893 |
|
51,500 |
|
|
Shinko Shoji Co. Ltd. (Technology Hardware & Equipment) |
|
462,170 |
|
121,000 |
|
|
Shinmaywa Industries Ltd. (Capital Goods) |
|
803,990 |
|
80,000 |
|
|
Shinsho Corp. (Capital Goods) |
|
164,721 |
|
57,700 |
|
|
Showa Corp. (Automobiles & Components) |
|
619,949 |
|
20,100 |
|
|
Sintokogio Ltd. (Capital Goods) |
|
147,053 |
|
99,600 |
|
|
Sodick Co. Ltd. (Capital Goods) |
|
512,463 |
|
16,000 |
|
|
Sumikin Bussan Corp. (Capital Goods) |
|
50,991 |
|
19,000 |
|
|
Sumitomo Bakelite Co. Ltd. (Materials) |
|
75,816 |
|
16,000 |
|
|
Sumitomo Osaka Cement Co. Ltd. (Materials) |
|
53,591 |
|
22,000 |
|
|
Sumitomo Precision Products Co. Ltd. (Capital Goods) |
|
99,363 |
|
4,340 |
|
|
Sumitomo Real Estate Sales Co. Ltd. (Real Estate) |
|
214,533 |
|
48,000 |
|
|
Sumitomo Seika Chemicals Co. Ltd. (Materials) |
|
172,312 |
|
23,000 |
|
|
Taihei Kogyo Co. Ltd. (Capital Goods) |
|
92,335 |
|
26,800 |
|
|
Taikisha Ltd. (Capital Goods) |
|
539,250 |
|
7,400 |
|
|
Takara Leben Co. Ltd. (Real Estate) |
|
86,263 |
|
15,000 |
|
|
Tatsuta Electric Wire and Cable Co. Ltd. (Capital Goods) |
|
126,358 |
|
99,000 |
|
|
The Bank of Nagoya Ltd. (Banks) |
|
351,012 |
|
26,000 |
|
|
The Hyakugo Bank Ltd. (Banks) |
|
112,625 |
|
133,000 |
|
|
The Keiyo Bank Ltd. (Banks) |
|
630,960 |
|
52,000 |
|
|
The Nippon Road Co. Ltd. (Capital Goods) |
|
232,523 |
|
21,000 |
|
|
The Nippon Synthetic Chemical Industry Co. Ltd. (Materials) |
|
154,143 |
|
9,000 |
|
|
The Sumitomo Warehouse Co. Ltd. (Transportation) |
|
45,214 |
|
141,000 |
|
|
The Toho Bank Ltd. (Banks) |
|
446,673 |
|
4,900 |
|
|
The Yachiyo Bank Ltd. (Banks) |
|
116,265 |
|
211,000 |
|
|
Toa Corp. (Capital Goods) |
|
328,080 |
|
155,000 |
|
|
Toagosei Co. Ltd. (Materials) |
|
640,490 |
|
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
|
Description |
|
Value |
|
Common Stocks
(continued) |
|
Japan (continued) |
|
12,200 |
|
|
Tocalo Co. Ltd. (Capital Goods) |
|
$ 188,407 |
|
8,500 |
|
|
Toho Holdings Co. Ltd. (Health Care Equipment & Services) |
|
164,157 |
|
13,200 |
|
|
Tohokushinsha Film Corp. (Media) |
|
102,931 |
|
131,000 |
|
|
Tokai Tokyo Financial Holdings, Inc. (Diversified Financials) |
|
656,868 |
|
1,170 |
|
|
Token Corp. (Consumer Durables & Apparel) |
|
65,217 |
|
68,000 |
|
|
Toko, Inc. (Technology Hardware & Equipment)* |
|
163,298 |
|
112,000 |
|
|
Tokuyama Corp. (Materials) |
|
223,234 |
|
14,200 |
|
|
Tokyo Ohka Kogyo Co. Ltd. (Materials) |
|
276,364 |
|
327,000 |
|
|
Tokyo Tatemono Co. Ltd. (Real Estate) |
|
1,530,397 |
|
50,900 |
|
|
TOMONY Holdings, Inc. (Banks) |
|
220,925 |
|
75 |
|
|
Top REIT, Inc. (REIT) |
|
353,175 |
|
7,000 |
|
|
Topcon Corp. (Technology Hardware & Equipment) |
|
57,277 |
|
50,900 |
|
|
Topre Corp. (Automobiles & Components) |
|
492,177 |
|
22,700 |
|
|
Torii Pharmaceutical Co. Ltd. (Pharmaceuticals, Biotechnology & Life Sciences) |
|
561,385 |
|
38,000 |
|
|
Toshiba Machine Co. Ltd. (Capital Goods) |
|
173,805 |
|
4,000 |
|
|
Toshiba Plant Systems & Services Corp. (Capital Goods) |
|
55,824 |
|
29,000 |
|
|
Toshiba TEC Corp. (Technology Hardware & Equipment) |
|
167,304 |
|
16,000 |
|
|
Toyo Ink SC Holdings Co. Ltd. (Materials) |
|
70,102 |
|
22,000 |
|
|
Toyo Tire & Rubber Co. Ltd. (Automobiles & Components) |
|
75,821 |
|
5,600 |
|
|
TS Tech Co. Ltd. (Automobiles & Components) |
|
108,313 |
|
17,100 |
|
|
TSI Holdings Co. Ltd. (Consumer Durables & Apparel) |
|
91,013 |
|
63,000 |
|
|
Tsubakimoto Chain Co. (Capital Goods) |
|
334,550 |
|
43,000 |
|
|
Tsugami Corp. (Capital Goods) |
|
264,955 |
|
19,000 |
|
|
Tsukishima Kikai Co. Ltd. (Capital Goods) |
|
170,784 |
|
8,200 |
|
|
Tsukui Corp. (Health Care Equipment & Services) |
|
167,228 |
|
4,500 |
|
|
TV Asahi Corp. (Media) |
|
69,412 |
|
14,400 |
|
|
UKC Holdings Corp. (Semiconductors & Semiconductor Equipment) |
|
300,703 |
|
41,900 |
|
|
UNY Co. Ltd. (Food & Staples Retailing) |
|
310,616 |
|
24,030 |
|
|
Usen Corp. (Media)* |
|
42,401 |
|
47,000 |
|
|
Wakita & Co. Ltd. (Capital Goods) |
|
416,365 |
|
6,700 |
|
|
Yellow Hat Ltd. (Retailing) |
|
100,974 |
|
18,000 |
|
|
Yodogawa Steel Works Ltd. (Materials) |
|
64,096 |
|
|
GOLDMAN SACHS STRUCTURED INTERNATIONAL SMALL CAP FUND
Schedule of Investments (continued)
January 31, 2013
(Unaudited)
|
|
|
|
|
|
|
|
|
|
Shares |
|
|
Description |
|
Value |
|
Common Stocks
(continued) |
|
Japan (continued) |
|
18,300 |
|
|
Yorozu Corp. (Automobiles & Components) |
|
$ 262,565 |
|
|
|
|
|
|
|
|
|
|
|
|
|
61,909,287 |
|
|
|
Luxembourg 0.9% |
|
47,607 |
|
|
Aperam (Materials) |
|
690,182 |
|
115,076 |
|
|
GAGFAH SA (Real Estate)* |
|
1,408,225 |
|
37,214 |
|
|
Orco Property Group (Real Estate) |
|
137,905 |
|
|
|
|
|
|
|
|
|
|
|
|
|
2,236,312 |
|
|
|
Netherlands 1.7% |
|
27,536 |
|
|
Beter Bed Holding NV (Retailing) |
|
555,030 |
|
56,710 |
|
|
BinckBank NV (Diversified Financials) |
|
548,913 |
|
977 |
|
|
Nutreco NV (Food, Beverage & Tobacco) |
|
86,607 |
|
349,050 |
|
|
SNS REAAL NV (Diversified Financials)*(a) |
|
398,975 |
|
179,936 |
|
|
TomTom NV (Consumer Durables & Apparel)*(a) |
|
933,211 |
|
125,757 |
|
|
USG People NV (Commercial & Professional Services) |
|
1,070,316 |
|
14,570 |
|
|
Vastned Retail NV (REIT) |
|
657,389 |
|
|
|
|
|
|
|
|
|
|
|
|
|
4,250,441 |
|
|
|
New Zealand 0.5% |
|
60,703 |
|
|
Chorus Ltd. (Telecommunication Services) |
|
145,272 |
|
256,644 |
|
|
New Zealand Oil & Gas Ltd. (Energy) |
|
194,848 |
|
259,047 |
|
|
Ryman Healthcare Ltd. (Health Care Equipment & Services) |
|
1,002,299 |
|
|
|
|
|
|
|
|
|
|
|
|
|
1,342,419 |
|
|
|
Norway 2.8% |
|
6,853 |
|
|
Aker ASA Class A (Diversified Financials) |
|
292,235 |
|
44,940 |
|
|
DNO International ASA (Energy)* |
|
76,686 |
|
31,933 |
|
|
Fred Olsen Energy ASA (Energy) |
|
1,524,948 |
|
59,764 |
|
|
Marine Harvest ASA (Food, Beverage & Tobacco)* |
|
59,817 |
|
120,841 |
|
|
Petroleum Geo-Services ASA (Energy) |
|
2,143,778 |
|
558,000 |
|
|
STX OSV Holdings Ltd. (Capital Goods) |
|
568,124 |
|
68,720 |
|
|
TGS Nopec Geophysical Co. ASA (Energy) |
|
2,562,812 |
|
|
|
|
|
|
|
|
|
|
|
|
|
7,228,400 |
|
|
|
Peru 0.0% |
|
9,383 |
|
|
Copeinca ASA (Food, Beverage & Tobacco) |
|
74,200 |
|
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
|
Description |
|
Value |
|
Common Stocks
(continued) |
|
Portugal 0.7% |
|
259,046 |
|
|
Mota-Engil SGPS SA (Capital Goods) |
|
$ 761,502 |
|
193,711 |
|
|
Portucel SA (Materials) |
|
748,557 |
|
27,448 |
|
|
Semapa-Sociedade de Investimento e Gestao (Materials) |
|
264,609 |
|
|
|
|
|
|
|
|
|
|
|
|
|
1,774,668 |
|
|
|
Singapore 2.4% |
|
478,481 |
|
|
AIMS AMP Capital Industrial REIT (REIT) |
|
612,669 |
|
108,000 |
|
|
Amtek Engineering Ltd. (Capital Goods) |
|
51,071 |
|
319,000 |
|
|
Ascott Residence Trust (REIT)(a) |
|
356,867 |
|
24,000 |
|
|
Boustead Singapore Ltd. (Energy) |
|
21,909 |
|
82,629 |
|
|
Cambridge Industrial Trust (REIT) |
|
47,407 |
|
211,000 |
|
|
China Aviation Oil Singapore Corp. Ltd. (Energy) |
|
184,163 |
|
379,000 |
|
|
Chip Eng Seng Corp. Ltd. (Capital Goods) |
|
235,366 |
|
123,000 |
|
|
CWT Ltd. (Transportation) |
|
142,691 |
|
12,000 |
|
|
Frasers Centrepoint Trust (REIT) |
|
18,814 |
|
426,800 |
|
|
Frasers Commercial Trust (REIT) |
|
460,340 |
|
282,000 |
|
|
GuocoLeisure Ltd. (Consumer Services) |
|
169,844 |
|
301,000 |
|
|
Hi-P International Ltd. Class P (Technology Hardware & Equipment) |
|
170,390 |
|
188,000 |
|
|
Ho Bee Investment Ltd. (Real Estate) |
|
290,201 |
|
49,000 |
|
|
Hong Leong Asia Ltd. (Capital Goods) |
|
67,091 |
|
85,000 |
|
|
Hyflux Ltd. (Utilities) |
|
92,405 |
|
140,000 |
|
|
Indofood Agri Resources Ltd. (Food, Beverage & Tobacco) |
|
147,737 |
|
74,000 |
|
|
K-Green Trust (Commercial & Professional Services) |
|
62,448 |
|
786,000 |
|
|
Lippo Malls Indonesia Retail Trust (REIT) |
|
333,251 |
|
61,000 |
|
|
OSIM International Ltd. (Retailing) |
|
88,730 |
|
67,000 |
|
|
Overseas Union Enterprise Ltd. (Consumer Services) |
|
161,469 |
|
61,000 |
|
|
Parkway Life Real Estate Investment Trust (REIT) |
|
114,849 |
|
60,000 |
|
|
Perennial China Retail Trust (Real Estate) |
|
30,088 |
|
56,000 |
|
|
Sakari Resources Ltd. (Energy) |
|
83,707 |
|
162,000 |
|
|
SATS Ltd. (Transportation) |
|
399,134 |
|
196,000 |
|
|
Stamford Land Corp. Ltd. (Consumer Services) |
|
93,462 |
|
786,000 |
|
|
Starhill Global REIT (REIT) |
|
536,691 |
|
|
GOLDMAN SACHS STRUCTURED INTERNATIONAL SMALL CAP FUND
Schedule of Investments (continued)
January 31, 2013
(Unaudited)
|
|
|
|
|
|
|
|
|
|
Shares |
|
|
Description |
|
Value |
|
Common Stocks
(continued) |
|
Singapore (continued) |
|
171,000 |
|
|
Suntec Real Estate Investment Trust (REIT) |
|
$ 234,256 |
|
19,000 |
|
|
Super Group Ltd. (Food, Beverage & Tobacco) |
|
52,963 |
|
218,000 |
|
|
Tiger Airways Holdings Ltd. (Transportation)* |
|
134,821 |
|
42,000 |
|
|
Venture Corp. Ltd. (Technology Hardware & Equipment) |
|
288,124 |
|
322,000 |
|
|
Wing Tai Holdings Ltd. (Real Estate) |
|
495,055 |
|
|
|
|
|
|
|
|
|
|
|
|
|
6,178,013 |
|
|
|
Spain 0.9% |
|
72,039 |
|
|
Almirall SA (Pharmaceuticals, Biotechnology & Life Sciences) |
|
890,745 |
|
5,041 |
|
|
Bolsas y Mercados Espanoles SA (Diversified Financials) |
|
141,207 |
|
6,653 |
|
|
Cie Automotive SA (Automobiles & Components) |
|
46,522 |
|
5,238 |
|
|
Corp. Financiera Alba SA (Diversified Financials) |
|
243,304 |
|
23,843 |
|
|
Ence Energia y Celulosa SA (Materials) |
|
71,397 |
|
23,426 |
|
|
Fomento de Construcciones y Contratas SA (Capital Goods)(a) |
|
317,125 |
|
43,437 |
|
|
Vueling Airlines SA (Transportation)* |
|
459,087 |
|
|
|
|
|
|
|
|
|
|
|
|
|
2,169,387 |
|
|
|
Sweden 3.7% |
|
17,743 |
|
|
Avanza Bank Holding AB (Diversified Financials) |
|
432,723 |
|
44,906 |
|
|
Betsson AB (Consumer Services) |
|
1,505,494 |
|
50,152 |
|
|
Bilia AB Class A (Retailing) |
|
865,816 |
|
15,225 |
|
|
BioGaia AB Class B (Pharmaceuticals, Biotechnology & Life Sciences) |
|
404,690 |
|
39,944 |
|
|
Clas Ohlson AB Class B (Retailing) |
|
596,541 |
|
8,200 |
|
|
D. Carnegie & Co. AB (Diversified Financials)* |
|
|
|
71,398 |
|
|
East Capital Explorer AB (Diversified Financials) |
|
598,194 |
|
43,013 |
|
|
Haldex AB (Capital Goods) |
|
256,948 |
|
24,344 |
|
|
Hexpol AB (Materials) |
|
1,346,414 |
|
51,433 |
|
|
Industrial & Financial Systems AB Class B (Software & Services) |
|
875,593 |
|
25,046 |
|
|
JM AB (Consumer Durables & Apparel) |
|
514,957 |
|
2,982 |
|
|
Lundbergforetagen AB Class B (Diversified Financials) |
|
116,666 |
|
23,479 |
|
|
Nordnet AB Class B (Diversified Financials) |
|
75,729 |
|
31,889 |
|
|
SAS AB (Transportation)* |
|
68,111 |
|
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
|
Description |
|
Value |
|
Common Stocks
(continued) |
|
Sweden (continued) |
|
17,545 |
|
|
Swedish Orphan Biovitrum AB (Pharmaceuticals, Biotechnology & Life Sciences)* |
|
$ 104,814 |
|
42,311 |
|
|
Trelleborg AB Class B (Capital Goods) |
|
542,944 |
|
63,127 |
|
|
Wihlborgs Fastigheter AB (Real Estate) |
|
1,011,163 |
|
|
|
|
|
|
|
|
|
|
|
|
|
9,316,797 |
|
|
|
Switzerland 2.5% |
|
93,403 |
|
|
Ferrexpo PLC (Materials) |
|
376,859 |
|
2,263 |
|
|
Forbo Holding AG (Registered) (Consumer Durables & Apparel) |
|
1,519,885 |
|
114 |
|
|
Gurit Holding AG (Materials) |
|
51,736 |
|
2,972 |
|
|
Implenia AG (Registered) (Capital Goods)* |
|
146,909 |
|
5,689 |
|
|
Inficon Holding AG (Registered) (Technology Hardware & Equipment) |
|
1,561,128 |
|
2,140 |
|
|
Komax Holding AG (Registered) (Capital Goods) |
|
196,060 |
|
320 |
|
|
LEM Holding SA (Registered) (Technology Hardware & Equipment) |
|
199,934 |
|
44,384 |
|
|
OC Oerlikon Corp. AG (Registered) (Capital Goods) |
|
544,960 |
|
12,163 |
|
|
Schweizerische National-Versicherungs-Gesellschaft (Registered) Class V (Insurance) |
|
598,148 |
|
1,767 |
|
|
Siegfried Holding AG (Registered) (Pharmaceuticals, Biotechnology & Life Sciences)* |
|
222,882 |
|
49 |
|
|
Vetropack Holding AG (Materials) |
|
99,610 |
|
5,695 |
|
|
Vontobel Holding AG (Registered) (Diversified Financials) |
|
183,356 |
|
183 |
|
|
Walter Meier AG (Registered) (Capital Goods) |
|
48,969 |
|
10,848 |
|
|
Zehnder Group AG (Capital Goods) |
|
512,708 |
|
|
|
|
|
|
|
|
|
|
|
|
|
6,263,144 |
|
|
|
United Kingdom 20.5% |
|
73,972 |
|
|
Alent PLC (Materials)* |
|
392,669 |
|
550,224 |
|
|
Barratt Developments PLC (Consumer Durables & Apparel)* |
|
1,898,280 |
|
7,660 |
|
|
Bellway PLC (Consumer Durables & Apparel) |
|
134,740 |
|
148,927 |
|
|
Berendsen PLC (Commercial & Professional Services) |
|
1,441,702 |
|
25,490 |
|
|
Berkeley Group Holdings PLC (Consumer Durables & Apparel)* |
|
739,144 |
|
47,728 |
|
|
Betfair Group PLC (Consumer Services) |
|
503,473 |
|
|
GOLDMAN SACHS STRUCTURED INTERNATIONAL SMALL CAP FUND
Schedule of Investments (continued)
January 31, 2013
(Unaudited)
|
|
|
|
|
|
|
|
|
|
Shares |
|
|
Description |
|
Value |
|
Common Stocks
(continued) |
|
United Kingdom (continued) |
|
87,948 |
|
|
Big Yellow Group PLC (REIT) |
|
$ 516,096 |
|
107,851 |
|
|
Bodycote PLC (Capital Goods) |
|
789,880 |
|
86,632 |
|
|
Cairn Energy PLC (Energy)* |
|
393,719 |
|
19,692 |
|
|
Chesnara PLC (Insurance) |
|
67,519 |
|
57,685 |
|
|
Close Brothers Group PLC (Diversified Financials) |
|
906,809 |
|
94,654 |
|
|
Computacenter PLC (Software & Services) |
|
676,600 |
|
28,593 |
|
|
Concentric AB (Capital Goods) |
|
256,685 |
|
893,445 |
|
|
Debenhams PLC (Retailing) |
|
1,434,518 |
|
60,062 |
|
|
Devro PLC (Food, Beverage & Tobacco) |
|
324,609 |
|
218,458 |
|
|
Diploma PLC (Technology Hardware & Equipment) |
|
1,929,862 |
|
206,610 |
|
|
easyJet PLC (Transportation) |
|
3,048,798 |
|
329,096 |
|
|
Elementis PLC (Materials) |
|
1,101,801 |
|
699,388 |
|
|
EnQuest PLC (Energy)* |
|
1,432,741 |
|
121,394 |
|
|
F&C Asset Management PLC (Diversified Financials) |
|
203,120 |
|
262,548 |
|
|
Firstgroup PLC (Transportation) |
|
807,818 |
|
19,273 |
|
|
Galliford Try PLC (Capital Goods) |
|
251,439 |
|
101,002 |
|
|
Gem Diamonds Ltd. (Materials)* |
|
256,303 |
|
6,236 |
|
|
Genus PLC (Pharmaceuticals, Biotechnology & Life Sciences) |
|
140,420 |
|
204,590 |
|
|
Grainger PLC (Real Estate) |
|
404,776 |
|
23,435 |
|
|
Greene King PLC (Consumer Services) |
|
247,768 |
|
743,739 |
|
|
Hansteen Holdings PLC (REIT) |
|
992,594 |
|
665,893 |
|
|
Home Retail Group PLC (Retailing)(a) |
|
1,266,760 |
|
336,760 |
|
|
Homeserve PLC (Commercial & Professional Services) |
|
1,237,986 |
|
313,197 |
|
|
Intermediate Capital Group PLC (Diversified Financials) |
|
1,755,549 |
|
107,602 |
|
|
International Personal Finance PLC (Diversified Financials) |
|
688,788 |
|
69,431 |
|
|
Interserve PLC (Capital Goods) |
|
488,489 |
|
27,333 |
|
|
Keller Group PLC (Capital Goods) |
|
319,773 |
|
627,127 |
|
|
Ladbrokes PLC (Consumer Services) |
|
2,111,536 |
|
171,593 |
|
|
Laird PLC (Technology Hardware & Equipment) |
|
607,901 |
|
163,285 |
|
|
Lancashire Holdings Ltd. (Insurance) |
|
2,124,125 |
|
82,183 |
|
|
Londonmetric Property PLC (REIT) |
|
143,983 |
|
972,459 |
|
|
Man Group PLC (Diversified Financials) |
|
1,364,791 |
|
98,269 |
|
|
Micro Focus International PLC (Software & Services) |
|
950,568 |
|
195,917 |
|
|
Mondi PLC (Materials) |
|
2,321,190 |
|
181,431 |
|
|
Morgan Crucible Co. PLC (Capital Goods) |
|
798,742 |
|
22,329 |
|
|
Northgate PLC (Transportation) |
|
112,704 |
|
384,558 |
|
|
Pace PLC (Technology Hardware & Equipment) |
|
1,376,565 |
|
167,410 |
|
|
Paragon Group of Companies PLC (Banks) |
|
745,643 |
|
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
|
Description |
|
Value |
|
Common Stocks
(continued) |
|
United Kingdom (continued) |
|
24,780 |
|
|
Primary Health Properties PLC (REIT) |
|
$ 138,977 |
|
180,200 |
|
|
QinetiQ Group PLC (Capital Goods) |
|
537,275 |
|
4,773 |
|
|
Renishaw PLC (Technology Hardware & Equipment) |
|
141,483 |
|
25,658 |
|
|
Rightmove PLC (Media) |
|
681,619 |
|
2,078 |
|
|
Rotork PLC (Capital Goods) |
|
87,268 |
|
23,351 |
|
|
Savills PLC (Real Estate) |
|
183,322 |
|
189,348 |
|
|
SIG PLC (Capital Goods) |
|
396,407 |
|
229,654 |
|
|
Soco International PLC (Energy)* |
|
1,392,128 |
|
918,846 |
|
|
Speedy Hire PLC (Capital Goods) |
|
561,057 |
|
81,109 |
|
|
Spirent Communications PLC (Technology Hardware & Equipment) |
|
206,378 |
|
84,151 |
|
|
ST Modwen Properties PLC (Real Estate) |
|
315,986 |
|
107,372 |
|
|
Synthomer PLC (Materials) |
|
337,775 |
|
68,636 |
|
|
Taylor Wimpey PLC (Consumer Durables & Apparel) |
|
77,433 |
|
57,256 |
|
|
Tetragon Financial Group Ltd. (Diversified Financials) |
|
658,444 |
|
352,727 |
|
|
TT electronics PLC (Technology Hardware & Equipment) |
|
900,674 |
|
73,318 |
|
|
Tullett Prebon PLC (Diversified Financials) |
|
278,576 |
|
73,972 |
|
|
Vesuvius PLC (Capital Goods) |
|
424,511 |
|
46,632 |
|
|
Victrex PLC (Materials) |
|
1,132,330 |
|
138,390 |
|
|
WH Smith PLC (Retailing)(a) |
|
1,461,692 |
|
328,739 |
|
|
William Hill PLC (Consumer Services) |
|
2,005,470 |
|
53,405 |
|
|
WS Atkins PLC (Commercial & Professional Services) |
|
702,318 |
|
|
|
|
|
|
|
|
|
|
|
|
|
52,330,099 |
|
|
|
TOTAL COMMON STOCKS |
|
$240,109,998 |
|
|
|
|
|
|
Preferred Stocks
0.3% |
|
Germany 0.3% |
|
6,799 |
|
|
Fuchs Petrolub AG Preference Shares (Materials) |
|
$ 520,318 |
|
4,648 |
|
|
Jungheinrich AG Preference Shares (Capital Goods) |
|
214,558 |
|
680 |
|
|
Sto AG Preference Shares (Materials) |
|
108,442 |
|
|
|
TOTAL PREFERRED STOCKS |
|
$ 843,318 |
|
|
GOLDMAN SACHS STRUCTURED INTERNATIONAL SMALL CAP FUND
Schedule of Investments (continued)
January 31, 2013
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
Description |
|
|
|
|
Value |
Warrants 0.0% |
France 0.0% |
56,200 |
|
UBISOFT Entertainment (Software & Services) |
|
|
10/13 |
|
|
$ 8,241 |
|
Netherlands 0.0% |
|
|
|
|
|
|
34,444 |
|
Nieuwe Steen Investments NV (REIT) |
|
|
04/13 |
|
|
|
|
TOTAL WARRANTS |
|
|
$ 8,241 |
|
TOTAL INVESTMENTS BEFORE SECURITIES LENDING REINVESTMENT VEHICLE |
|
|
$ 240,961,557 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
Rate |
|
|
Value |
Securities Lending Reinvestment Vehicle(c)(d) 3.0% |
Goldman Sachs Financial Square Money Market Fund FST Shares |
|
|
7,596,499 |
|
|
0.115 |
% |
|
$ 7,596,499 |
|
TOTAL INVESTMENTS 97.4% |
|
|
$ 248,558,056 |
|
OTHER ASSETS IN EXCESS OF
LIABILITIES 2.6% |
|
|
6,532,103 |
|
NET ASSETS 100.0% |
|
|
$ 255,090,159 |
|
|
|
|
|
|
|
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) |
|
Exempt from registration under Rule 144A of the Securities Act of 1933. Under procedures approved by the Board of Trustees, such securities have been determined
to be liquid by the investment adviser and may be resold, normally to qualified institutional buyers in transactions exempt from registration. Total market value of Rule 144A securities amounts to $94,805, which represents approximately 0.0% of
net assets as of January 31, 2013. |
|
|
(c) |
|
Variable rate security. Interest rate disclosed is that which is in effect at January 31, 2013. |
|
|
(d) |
|
Represents an affiliated issuer. |
|
|
|
|
Investment Abbreviations: |
REIT |
|
Real Estate Investment Trust |
RSP |
|
Risparmio Shares |
|
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 STRUCTURED INTERNATIONAL SMALL CAP FUND
Schedule of Investments (continued)
January 31, 2013
(Unaudited)
ADDITIONAL INVESTMENT INFORMATION
FUTURES CONTRACTS At January 31, 2013, the Fund had the
following futures contracts:
|
|
|
|
|
|
|
|
|
|
|
|
|
Type |
|
Number of Contracts Long (Short) |
|
Expiration Date |
|
Current Value |
|
|
Unrealized Gain (Loss) |
|
|
|
EURO STOXX 50 Index |
|
124 |
|
March 2013 |
|
$ |
4,564,435 |
|
|
$ |
15,283 |
|
FTSE 100 Index |
|
23 |
|
March 2013 |
|
|
2,283,523 |
|
|
|
59,064 |
|
Hang Seng Index |
|
1 |
|
February 2013 |
|
|
153,287 |
|
|
|
500 |
|
MSCI Singapore Index |
|
4 |
|
February 2013 |
|
|
238,129 |
|
|
|
1,016 |
|
SPI 200 Index |
|
8 |
|
March 2013 |
|
|
1,010,473 |
|
|
|
34,043 |
|
TSE TOPIX Index |
|
29 |
|
March 2013 |
|
|
2,973,099 |
|
|
|
275,336 |
|
|
|
TOTAL |
|
|
$ |
385,242 |
|
|
|
TAX INFORMATION At January 31, 2013, the Funds aggregate security unrealized gains and losses
based on cost for U.S. federal income tax purposes were as follows:
|
|
|
|
|
|
|
Tax cost |
|
$ |
215,382,579 |
|
|
|
Gross unrealized gain |
|
|
43,067,616 |
|
Gross unrealized loss |
|
|
(9,892,139 |
) |
|
|
Net unrealized security gain |
|
$ |
33,175,477 |
|
|
|
Additional information regarding the Fund is available in the Funds most recent Annual and Semi-Annual Reports
to Shareholders. This information is available on the Securities and Exchange Commissions website (www.sec.gov).
GOLDMAN SACHS STRUCTURED INTERNATIONAL EQUITY FUNDS
Schedule of Investments (continued)
January 31, 2013
(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 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) and the lowest priority to unobservable inputs (Level 3 measurements). 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 Goldman
Sachs Asset Management, L.P. (GSAM) assumptions in determining fair value measurement).
The Trustees have adopted Valuation
Procedures that govern the valuation of the portfolio investments held by the Funds, including investments for which market quotations are not readily available. The Trustees have delegated to GSAM day-to-day responsibility for implementing and
maintaining internal controls and procedures related to the valuation of the Funds portfolio investment. 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 and investment companies 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 no sale occurs, equity securities and exchange traded investment companies are valued at the last bid price for long positions and at the last ask price for short positions. Investments in investment companies (other than those that are
exchange traded) are valued at the net asset value (NAV) on the valuation date. To the extent these investments are actively traded, they are classified as Level 1 of the fair value hierarchy.
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. Securities traded on certain foreign securities exchanges are valued daily at fair value determined by an independent fair value service (if
GOLDMAN SACHS STRUCTURED INTERNATIONAL EQUITY FUNDS
Schedule of Investments (continued)
January 31, 2013
(Unaudited)
NOTES TO THE SCHEDULE OF INVESTMENTS (continued)
available) under valuation procedures approved by the Trustees and consistent with applicable regulatory guidance. The independent fair value service takes into account multiple factors
including, but not limited to, movements in the securities markets, certain depositary receipts, futures contracts and foreign currency exchange rates that have occurred subsequent to the close of the foreign securities exchange. Investments
applying these valuation adjustments are classified as Level 2 of the fair value hierarchy.
Debt Securities Debt securities for
which market quotations are readily available are valued daily on the basis of quotations supplied by dealers or an independent pricing service approved by the Trustees. 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 securities dealers to determine current value. 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 fair value. With the exception of treasury securities, which are generally classified as Level 1,
these investments are generally classified as Level 2 of the fair value hierarchy.
Derivative Contracts A derivative is an
instrument whose value is derived from underlying assets, indices, reference rates or a combination of these factors.
Exchange-traded derivatives, including futures contracts, typically fall within Level 1 of the fair value hierarchy. Over-the-counter
(OTC) derivatives are valued using market transactions and other market evidence, including market-based inputs to models, calibration to market-clearing transactions, broker or dealer quotations, or other alternative pricing sources.
Where models are used, the selection of a particular model to value an OTC derivative depends upon the contractual terms of, and specific risks inherent in, the instrument, as well as the availability of pricing information in the market. Valuation
models require a variety of inputs, including contractual terms, market prices, yield curves, credit curves, measures of volatility, voluntary and involuntary prepayment rates, loss severity rates and correlations of such inputs. For OTC derivatives
that trade in liquid markets, model inputs can generally be verified and model selection does not involve significant management judgment. OTC derivatives are classified within Level 2 of the fair value hierarchy when significant inputs are
corroborated by market evidence.
i Futures Contracts Futures contracts are contracts to buy or sell a
standardized quantity of a specified commodity or security and are valued based on exchanged settlement prices or independent market quotes. Futures contracts are valued at the last settlement price, or in the absence of a sale, the last bid price
for long positions and at the last ask price for short positions, at the end of each day on the board of trade or exchange upon which they are traded. Upon entering into a futures contract, a Fund deposits cash or securities in an account on behalf
of the broker in an amount sufficient to meet the initial margin requirement. Subsequent payments are made or received by the Fund equal to the daily change in the contract value and are recorded as variation margin receivable or payable with a
corresponding offset to unrealized gains or losses.
GOLDMAN SACHS STRUCTURED INTERNATIONAL EQUITY FUNDS
Schedule of Investments (continued)
January 31, 2013
(Unaudited)
NOTES TO THE SCHEDULE OF INVESTMENTS (continued)
B. Level 3 Fair Value Investments To the extent that the aforementioned significant inputs 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 the Funds investments may be determined under valuation procedures approved by the Trustees. 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 Funds NAV. Significant
events which could affect a large number of securities in a particular market may include, but are not limited to: significant fluctuations in U.S. or foreign markets; market dislocations; market disruptions; or unscheduled market closings.
Significant events which could also affect a single issuer may include, but are not limited to: corporate actions such as reorganizations, mergers and buy-outs; ratings downgrades; and bankruptcies.
C. Fair Value Hierarchy The following is a summary of the Funds investments and derivatives classified in the fair value hierarchy as
of January 31, 2013:
|
|
|
|
|
|
|
|
|
|
|
|
|
STRUCTURED EMERGING MARKETS EQUITY FUND |
|
|
|
|
|
|
|
|
|
|
|
|
Investment Type |
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
Common Stock and/or Other Equity Investments |
|
|
|
|
|
|
|
|
|
|
|
|
North and South America |
|
$ |
58,051,786 |
|
|
$ |
52,331,049 |
(a) |
|
$ |
|
|
Other |
|
|
35,331,120 |
|
|
|
462,427,455 |
(a) |
|
|
|
|
Securities Lending Reinvestment Vehicle |
|
|
3,501,725 |
|
|
|
|
|
|
|
|
|
Total |
|
$ |
96,884,631 |
|
|
$ |
514,758,504 |
|
|
$ |
|
|
|
|
|
|
STRUCTURED INTERNATIONAL EQUITY FUND |
|
|
|
|
|
|
|
|
|
|
|
|
Investment Type |
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
Common Stock and/or Other Equity Investments |
|
|
|
|
|
|
|
|
|
|
|
|
North and South America |
|
$ |
|
|
|
$ |
3,761,530 |
(a) |
|
$ |
|
|
Other |
|
|
36,536,801 |
|
|
|
901,676,493 |
(a) |
|
|
|
|
Securities Lending Reinvestment Vehicle |
|
|
15,447,119 |
|
|
|
|
|
|
|
|
|
Total |
|
$ |
51,983,920 |
|
|
$ |
905,438,023 |
|
|
$ |
|
|
|
|
|
|
Derivative Type |
|
|
|
|
|
|
|
|
|
Assets(b) |
|
|
|
|
|
|
|
|
|
|
|
|
Futures Contracts |
|
$ |
619,620 |
|
|
$ |
|
|
|
$ |
|
|
|
|
|
|
STRUCTURED INTERNATIONAL SMALL CAP FUND |
|
|
|
|
|
|
|
|
|
|
|
|
Investment Type |
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
Common Stock and/or Other Equity Investments |
|
|
|
|
|
|
|
|
|
|
|
|
North and South America |
|
$ |
|
|
|
$ |
1,029,043 |
(a) |
|
$ |
|
|
Other |
|
|
|
|
|
|
239,848,807 |
(a) |
|
|
83,707 |
|
Securities Lending Reinvestment Vehicle |
|
|
7,596,499 |
|
|
|
|
|
|
|
|
|
Total |
|
$ |
7,596,499 |
|
|
$ |
240,877,850 |
|
|
$ |
83,707 |
|
|
|
|
|
Derivative Type |
|
|
|
|
|
|
|
|
|
Assets(b) |
|
|
|
|
|
|
|
|
|
|
|
|
Futures Contracts |
|
$ |
385,242 |
|
|
$ |
|
|
|
$ |
|
|
(a) |
|
To adjust for the time difference between local market close and the calculation of net asset value, the Funds utilize fair value model prices for international
equities provided by an independent fair value service resulting in a Level 2 classification. |
(b) |
|
Amount shown represents unrealized gain (loss) at period end. |
For further information regarding security characteristics, see Schedule of Investments.
GOLDMAN SACHS STRUCTURED INTERNATIONAL EQUITY FUNDS
Schedule of Investments (continued)
January 31, 2013
(Unaudited)
NOTES TO THE SCHEDULE OF INVESTMENTS (continued)
Securities Lending Pursuant to exemptive relief granted by the Securities and Exchange Commission (SEC) and the terms and conditions contained therein, the Funds may lend their
securities through a securities lending agent, Goldman Sachs Agency Lending (GSAL), a wholly-owned subsidiary of Goldman Sachs, to certain qualified borrowers including Goldman Sachs and affiliates. 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 a 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.
The Funds invest the cash collateral received in connection with securities lending transactions in the Goldman Sachs
Financial Square Money Market Fund (Money Market Fund), a separate series of the Trust. The 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 an investment advisory fee of up to 0.205% on an annualized basis of the average daily net assets of the Money Market Fund.
Both the Funds and GSAL received compensation relating to the lending of the Funds securities.
GOLDMAN SACHS STRUCTURED INTERNATIONAL EQUITY FUNDS
Schedule of Investments (continued)
January 31, 2013
(Unaudited)
NOTES TO THE SCHEDULE OF INVESTMENTS (continued)
The Funds risks include, but are not limited to, the following:
Foreign Custody
Risk A Fund that invests in foreign securities may hold such securities and foreign currency with foreign banks, agents, and securities depositories appointed by the Funds custodian (each a Foreign Custodian). In some
countries, Foreign Custodians may be subject to little or no regulatory oversight or independent evaluation of their operations. Further, the laws of certain countries may place limitations on a Funds ability to recover its assets if a Foreign
Custodian enters into bankruptcy. Investments in emerging markets may be subject to greater custody risks than investments in more developed markets. Custody services in emerging market countries are often undeveloped and may be less regulated than
in more developed countries, and thus may not afford the same level of investor protection as would apply in developed countries.
Shareholder Concentration Risk Certain funds, accounts, individuals or Goldman Sachs affiliates may from time to time own (beneficially or
of record) or control a significant percentage of the Funds shares. Redemptions by these entities of their holdings in the Funds may impact the Funds liquidity and NAV. These redemptions may also force the Funds to sell securities.
Liquidity Risk The Funds may make investments that are illiquid or that may become less liquid in response to market
developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that a Fund will not be able to pay redemption proceeds within the allowable time period because of unusual
market conditions, an unusually high volume of redemption requests, or other reasons. To meet redemption requests, a Fund may be forced to sell investments at an unfavorable time and/or under unfavorable conditions.
Market and Credit Risks In the normal course of business, the Funds trade financial instruments and enter into financial transactions where
risk of potential loss exists due to changes in the market (market risk). Additionally, the Funds 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 Funds have unsettled or
open transactions defaults.
Investing in foreign markets may involve special risks and considerations not typically associated
with investing in the U.S. These risks include revaluation of currencies, high rates of inflation, repatriation restrictions on income and capital, and adverse political and economic developments. Moreover, securities issued in these markets may be
less liquid, be subject to government ownership controls, have delayed settlements and their prices may be more volatile than those of comparable securities in the U.S.
Item 2. |
Controls and Procedures. |
(a) The
Registrants President/Principal Executive Officer and Principal Financial Officer concluded that the Registrants 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 Registrants disclosure controls and procedures as of the Evaluation Date.
(b) There were no changes in the Registrants internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred
during the Registrants last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrants internal control over financial reporting.
(a) Separate certifications
for the President/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 |
|
|
James A. McNamara,
President/Principal Executive Officer |
Date March 20, 2013
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 |
|
|
James A. McNamara,
President/Principal Executive Officer |
Date March 20, 2013
|
|
|
|
|
By (Signature and Title)* |
|
/s/ George F. Travers |
|
|
George F. Travers,
Principal Financial Officer
|
Date March 20, 2013
* |
|
Print the name and title of each signing officer under his or her signature. |