GOLDMAN SACHS TRUST
Institutional Shares of the
Goldman Sachs Global Managed Beta Fund
(the Fund)
Supplement dated June 17, 2022 to the
Prospectus (the Prospectus) and the Statement of Additional Information (the SAI), each dated December 29, 2021
Effective immediately, the Fund will publish information regarding its portfolio holdings on a monthly, rather than quarterly, basis subject to a thirty-day lag between the date of the information and the date on which the information is disclosed.
Accordingly, effective immediately, the second paragraph in the section of the Prospectus titled Other Investment Practices and Securities is replaced in its entirety with the following:
The Fund publishes on its website (http://www.gsamfunds.com) complete portfolio holdings as of the end of each month subject to a thirty-day lag between the date of the information and the date on which the information is disclosed. In addition, a description of the Funds policies and procedures with respect to the disclosure of the Funds portfolio holdings is available in the Funds Statement of Additional Information (SAI).
Effective immediately, the third paragraph in the section of the SAI titled Other InformationSelective Disclosure of Portfolio Holdings Information and Portfolio Characteristics InformationPortfolio Holdings Information is replaced in its entirety with the following:
The Fund currently intends to publish complete portfolio holdings on the Trusts website (http://www.gsamfunds.com) as of the end of each month, subject to a 30-day lag between the date of the information and the date on which the information is disclosed. The Fund may publish on the website complete portfolio holdings information more frequently if it has a legitimate business purpose for doing so. Operational disruptions and other systems disruptions may delay the posting of this information on the Trusts website.
This Supplement should be retained with your Prospectus and SAI for future reference.
MGDBETAOPSSTK 06-22