Annual Report of Employee Stock Plans (11-k)

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 11-K

ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934

For the fiscal year ended December 31, 2014.

Transition report Pursuant to Section 15(d) of the Securities Exchange Act of 1934

For the transition period from to

Commission file number 001-14965

A.	Full title of the plan and the address of the plan, if different from that of issuer named below:

THE GOLDMAN SACHS 401(k) PLAN

B.	Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

THE GOLDMAN SACHS GROUP, INC

200 West Street

New York, NY 10282

The Goldman Sachs 401(k) Plan

Financial Statements and Supplemental Schedules

December 31, 2014 and 2013

(With Independent Registered Public Accounting Firm’s Report Thereon)

The Goldman Sachs 401(k) Plan

Index

December 31, 2014 and 2013


	Page(s)

Report of Independent Registered Public Accounting Firm		1

Financial Statements

Statements of Net Assets Available for Benefits		2

Statements of Changes in Net Assets Available for Benefits		3

Notes to Financial Statements		4–24

Supplemental Schedules*

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)		25–71

Schedule H, Line 4i — Schedule of Assets (Acquired and Disposed of Within Year)		72

Schedule G, Part 1 — Schedule of Loans or Fixed Income Obligations in Default or Classified as Uncollectible		73-75

Signatures

Index to Exhibits

Consent of PricewaterhouseCoopers, LLP Ex-23: Consent of PricewaterhouseCoopers, LLP

*	All other schedules required by 29 CFR §2520.103-10 of the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974, as amended, are not included because they are not applicable.

Report of Independent Registered Public Accounting Firm

To the Participants and Administrator of

The Goldman Sachs 401(k) Plan

In our opinion, the accompanying statements of net assets available for benefits and the related statement of changes in net assets available for benefits present fairly, in all material respects, the net assets available for benefits of The Goldman Sachs 401(k) Plan (the “Plan”) at December 31, 2014 and 2013, and the changes in net assets available for benefits for the year ended December 31, 2014 in conformity with accounting principles generally accepted in the United States of America. These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

The supplemental schedule of assets (held at end of year) as of December 31, 2014, schedule of assets (acquired and disposed of within year) for the year ended December 31, 2014 and schedule of loans or fixed income obligations in default or classified as uncollectible as of December 31, 2014 have been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental schedules are the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental schedules reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental schedules. In forming our opinion on the supplemental schedules, we evaluated whether the supplemental schedules, including their form and content, are presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the schedule of assets (held at end of year), schedule of assets (acquired and disposed of within year), and schedule of loans or fixed income obligations in default or classified as uncollectible are fairly stated, in all material respects, in relation to the financial statements as a whole.

/s/ PricewaterhouseCoopers LLP

New York, NY

June 29, 2015

The Goldman Sachs 401(k) Plan

Statements of Net Assets Available for Benefits

December 31, 2014 and 2013


	As of December
$ in thousands	2014		2013
Assets

Investment assets at fair value (Note 3)	$	6,629,082	$	6,345,441

Receivables:
Employee contributions		5,148		5,017
Employer contributions		96,243		96,826
Notes receivable from participants		27,532		28,199
Interest and dividends		5,624		5,624
Due from brokers and other receivables		221,337		174,733


Total receivables		355,884		310,399


Total assets		6,984,966		6,655,840


Liabilities

Investment liabilities at fair value (Note 3)		272,429		215,140

Due to brokers and other payables		57,349		58,784
Accrued expenses		9,940		38,708


Total liabilities		339,718		312,632


Net assets available for benefits	$	6,645,248	$	6,343,208

The accompanying notes are an integral part of these financial statements.

The Goldman Sachs 401(k) Plan

Statements of Changes in Net Assets Available for Benefits

December 31, 2014 and 2013


	Year Ended December
$ in thousands	2014			2013
Additions

Investment income:
Net appreciation in the fair value of investments (Note 3)	$	232,147		$	852,391
Interest and dividends		167,102			123,961
Less: Investment management fees and other expenses		(29,978	)		(52,943	)


Total investment income		369,271			923,409


Interest income on notes receivable from participants		1,146			1,181

Contributions:
Employee		190,939			183,700
Employer		96,243			96,826


Total contributions		287,182			280,526


Total additions		657,599			1,205,116

Deductions

Benefits paid		355,559			371,302


Total deductions		355,559			371,302


Net increase in net assets available for benefits before transfer from Archon Group, L.P. 401(k) Plan		302,040			833,814
Transfer from Archon Group, L.P. 401(k) Plan (Note 1)		—			89,614


Net increase in net assets available for benefits after transfer from Archon Group, L.P. 401(k) Plan		302,040			923,428
Net assets available for benefits

Beginning of year		6,343,208			5,419,780


End of year	$	6,645,248		$	6,343,208

The accompanying notes are an integral part of these financial statements.

The Goldman Sachs 401(k) Plan

Notes to Financial Statements

December 31, 2014 and 2013

Note 1.

Plan Description

The following description of The Goldman Sachs 401(k) Plan (the Plan) is provided for general information purposes only. Participants should refer to the Plan document, as most recently amended on November 28, 2014, for a more complete description of the Plan’s provisions. Items referenced in italics are defined in the Plan document.

The Plan became effective on January 1, 1945 as the “Goldman Sachs Employees’ Profit Sharing Retirement Income Plan” and is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (ERISA). Effective January 1, 2008, the Goldman Sachs Employees’ Profit Sharing Retirement Income Plan was amended to incorporate a 401(k) safe harbor design, and was renamed “The Goldman Sachs 401(k) Plan.” The Plan has been subsequently amended for various reasons, including to reflect changes in law.

Effective January 1, 2013, the Archon Group, L.P. 401(k) Plan was merged into the Plan. All assets were transferred into the Plan at fair value as of January 1, 2013.

General

The Plan is a defined contribution plan to which participants may elect to make pre-tax, and/or “Roth” after-tax, contributions each year from their 401(k) Compensation, as determined under the Plan and to which they can roll over amounts from certain other qualified retirement arrangements. The Plan’s Plan Year is the 12-month period commencing on January 1 and ending on the following December 31. The Plan offers a dollar-for-dollar Firm Matching Contribution on participants’ elective deferrals of up to 4% of their Safe Harbor Compensation, capped by applicable statutory limitations. If 4% of an eligible participant’s Safe Harbor Compensation is less than $6,000, The Goldman Sachs Group, Inc. (the firm) will allocate a Supplemental Contribution equal to the difference. In addition to these contributions, the firm will also allocate to each eligible participant an Additional Retirement Contribution of up to $4,000. Collectively, the Firm Matching Contribution, Supplemental Contribution and Additional Retirement Contribution are herein referred to as the Firm Contributions.

The Plan has two named fiduciaries, consisting of the Administrative Committee and the Retirement Committee. The Administrative Committee is responsible for interpreting the terms and conditions of the Plan that relate to the administration of the Plan. The Retirement Committee monitors the investment objectives and performance of the Plan’s individual investment options. Each committee consists of employees of the firm or its affiliates. Rocaton Investment Advisors is the Retirement Committee’s investment advisor. Participants direct their contributions and the Firm Contributions into various investment options offered by the Plan through the Goldman Sachs Profit Sharing Master Trust (the Master Trust). The Plan is the sole investor in the Master Trust. Participants’ directed investments can be allocated to mutual funds, collective trusts, separately managed accounts and a bank deposit account. Hewitt Associates, LLC is the recordkeeper of the Plan.

The Plan also offers participants the option to invest in the Stock Fund, as defined (the “Company Stock Fund”), which is a separately managed account, that primarily invests in shares of the firm’s common stock. In accordance with a policy adopted by the Retirement Committee, no more than 20% of any contribution made on behalf of each participant can be invested in the Company Stock Fund. When a participant reallocates his or her total investment balance, he or she is limited to reallocating 20% of his or her total investment balance into the Company Stock Fund. In addition, participants are restricted from transferring into or out of the Company Stock Fund during the black-out periods that are part of the firm’s compliance procedures designed to avoid violations of applicable securities laws.

The Goldman Sachs 401(k) Plan

Notes to Financial Statements

December 31, 2014 and 2013

Eligibility

Employees become eligible to make pre-tax, and/or “Roth” after-tax, contributions to the Plan as of the first day of the month after they join the firm as eligible employees. In addition, employees are eligible, as determined under the Plan document, to participate in the Firm Matching Contributions and Supplemental Contributions generally as of the first day of the month after they complete one Year of Service, as defined, and attain age 21. In addition, to be eligible for the Supplemental Contribution, the employee must be employed on the last day of the firm’s fiscal year that ends with or within the Plan Year.

Generally, to be eligible for the Additional Retirement Contribution, employees must have been (i) eligible for benefits under the Goldman Sachs Employees’ Pension Plan as of November 26, 2004, (ii) age 46 or older as of November 26, 2004, and (iii) employed by the firm as of the last day of the current fiscal year.

Vesting

Participants are immediately fully vested in their own 401(k) contributions, the Firm Matching Contributions and Supplemental Contributions, and the earnings thereon. Participants became fully vested after three Years of Service in the Firm Profit Sharing Contributions (which were discretionary profit sharing contributions made by the firm prior to January 1, 2008) and Additional Retirement Contributions, and the earnings thereon. Additionally, upon the earliest to occur of: (i) attainment of age 65 while employed by the firm, (ii) disability retirement, (iii) death or (iv) Plan termination, each participant or beneficiary will be 100% vested and may receive a lump-sum amount equal to the value of the funds or a portion thereof allocated to the participant’s account or may receive periodic distributions from the Plan.

Benefits

Any benefits provided by the Plan are paid from net assets available for benefits. The benefit to which a Plan participant is entitled equals the amount that can be provided by the vested contributions and net earnings thereon (including net realized and unrealized investment appreciation and depreciation) allocated to such participant’s account.

Notes Receivable from Participants

A participant in the Plan is permitted to borrow between $1,000 and $50,000, reduced by (i) the highest outstanding balance of loans to such participant from the Plan during the one-year period ending on the day before the date on which such new loan is made, less (ii) the outstanding balance of loans to such participant from the Plan on the date of such new loan, subject to an overall cap of the lesser of (a) one-half of the participant’s total vested account balance (including Firm Contributions) or (b) the balance in the participant’s 401(k) and rollover contribution accounts. A participant may not borrow any amounts attributable to the Firm Contributions. Interest on loans is fixed at the U.S. prime rate plus one percent for the life of the respective loan. Loans generally must be repaid within five years, or in some cases, ten years. Loans are repaid (principal and interest) and added back to participants’ account balances generally through regular after-tax payroll deductions.

Trust Agreement

The Plan’s investments are owned by the Master Trust, which is subject to a trust agreement (the Trust Agreement) with State Street Bank and Trust Company (the Trustee).

The Goldman Sachs 401(k) Plan

Notes to Financial Statements

December 31, 2014 and 2013

Note 2.

Summary of Significant Accounting Policies

Basis of Presentation

These financial statements are prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP).

All references to 2014 and 2013 refer to the Plan years ended, or the dates, as the context requires, December 31, 2014 and December 31, 2013, respectively.

Use of Estimates

Preparation of these financial statements requires management to make certain estimates and assumptions, the most important of which relates to fair value measurements of the Plan’s investments. These estimates and assumptions are based on the best available information but actual results could be materially different.

Reclassifications

Certain reclassifications have been made to previously reported amounts to conform to the current presentation.

Payment of Benefits

Benefits are recorded when paid.

Notes Receivable from Participants

Participant loans are measured at their unpaid principal balance, plus any accrued but unpaid interest.

Risks and Uncertainties

The Plan invests in various investment options, which include investments in equities, swaps, fixed income securities, currency and commodities, futures, forwards, options, other derivative contracts, real estate investment trusts and bank deposits.

Investments are exposed to various risks, such as interest rate, market and credit risk. Due to the level of risk associated with certain investments and the level of uncertainty related to changes in the value of investments, it is possible that changes in risks in the near term could materially affect participants’ account balances and the amounts reported in the statements of net assets available for benefits and the statements of changes in net assets available for benefits.

Expenses

Investment management fees charged by managers of mutual funds are borne by the Plan, and are included in “Net appreciation in fair value of investments.” Investment management fees charged by managers of collective trusts are borne by the Plan, and are included in “Net appreciation in fair value of investments” or “Investment management fees and other expenses” based on the underlying trust agreements.

Investment management fees charged by managers of separately managed accounts are borne by the Plan, and are included in “Investment management fees and other expenses.” In particular, the investment managers of the Multi-Market Hedge Fund Option, Multi-Strategy Hedge Fund Option, and Global Equity Long-Short Hedge Fund Option each charge an investment management fee that consists of a fixed asset-based management fee plus an annual incentive fee ranging from 15% to 20% of the net investment income earned, if any, by each fund option.

The Goldman Sachs 401(k) Plan

Notes to Financial Statements

December 31, 2014 and 2013

Other expenses borne by the Plan, unless paid by the firm, consist of custodial, administrative, and investment advisory fees. Investment advisory fees are paid to Rocaton Investment Advisors, who advise the Retirement Committee on the selection and oversight of Plan investments. These Plan expenses, unless paid by the firm, are included in “Investment management fees and other expenses.”

Investments

The investments of the Plan are reported at fair value.

The Bank Deposit option is a deposit obligation of Goldman Sachs Bank USA (GS Bank USA), a Federal Deposit Insurance Corporation (FDIC) insured New York State chartered bank and a member of the Federal Reserve System. The Bank Deposit option offers an FDIC insured deposit with a floating rate coupon indexed to the Federal Funds Rate.

Mutual funds and collective trust funds represent investments with various investment managers. Mutual funds are valued based on the quoted net asset value per share held. Collective trust funds are valued based on the net asset value per unit as reported by the investment managers.

Investments within separately managed accounts are described below:

Mutual funds and collective trust funds, as described above, may also be investments held within separately managed accounts.

Cash and cash equivalents include cash and certain short-term interest-bearing investments.

The Plan’s investments include certificates of deposit.

Securities purchased under agreements to resell (resale agreements) are transactions in which the Plan purchases financial instruments from a seller, typically in exchange for cash, and simultaneously enters into an agreement to resell the same or substantially the same financial instruments to the seller at a stated price plus accrued interest at a future date.

Common stock (including common stock in real estate investment trusts), preferred stock, fixed income securities, options and futures traded in active markets on national and international securities exchanges are valued at closing prices on the last business day of each period presented. Securities traded in markets that are not considered active are valued based on broker or dealer quotations or alternative pricing sources with reasonable levels of price transparency. Securities that trade infrequently and therefore have little or no price transparency are valued using the investment managers’ (or independent third parties on behalf of the investment managers’) best estimate of fair value.

Forward foreign currency contracts are valued at fair value, as determined by the investment managers (or independent third parties on behalf of the investment managers), using quoted forward foreign currency exchange rates. At the end of each period presented, open contracts are valued at the current forward foreign currency exchange rates and the change in market value is recorded as an unrealized gain or loss. When the contract is closed or delivery taken, the Plan records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.

Swap contracts are valued at fair value, as determined by the investment managers (or independent third parties on behalf of the investment managers) utilizing their proprietary models and taking into consideration exchange quotations on underlying instruments, dealer quotations and other market information. See Note 10 for further information about derivatives.

The Goldman Sachs 401(k) Plan

Notes to Financial Statements

December 31, 2014 and 2013

Investments denominated in currencies other than the U.S. dollar are translated using exchange rates prevailing at the end of the periods presented. Purchases and sales of these investments are translated at the rate of exchange on the respective dates of such transactions. Interest income is recorded on an accrual basis. Dividend income is recorded on the ex-dividend date.

Purchases and sales of the investments within the Plan are reflected on a trade-date basis.

Note 3 presents the “Net appreciation in the fair value of investments,” which consists of realized gains or losses and unrealized appreciation/(depreciation) in the fair value of investments.

Due from Brokers and Other Receivables and Due to Brokers and Other Payables

“Due from brokers and other receivables” include cash balances and amounts receivable for unsettled sales transactions, customer margin loans, and collateral posted in connection with certain derivative transactions. “Due to brokers and other payables” include amounts payable for unsettled purchase transactions and collateral received in connection with certain derivative transactions. Certain of the Plan’s securities held by the clearing brokers or prime brokers are pledged to the brokers on terms that permit them to repledge the securities to others, subject to certain limitations. Securities held at custodians under custody agreements cannot be repledged to others by the custodian.

Recent Accounting Development

Disclosures for Investments in Certain Entities That Calculate Net Asset Value (NAV) per Share (or Its Equivalent) (ASC 820). In May 2015, the FASB issued ASU No. 2015-07, “Fair Value Measurement (Topic 820) – Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent).” ASU No. 2015-07 removes the requirement to include investments in the fair value hierarchy for which the fair value is measured at NAV using the practical expedient under “Fair Value Measurements and Disclosures (Topic 820).” ASU No. 2015-07 is effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period. ASU No. 2015-07 is required to be applied retrospectively to all periods presented beginning in the year of adoption. Early adoption is permitted. The Plan intends to early adopt ASU No. 2015-07 in its financial statements for the year ended December 31, 2015. Since ASU No. 2015-07 will only impact the Plan’s disclosures, adoption will not affect the Plan’s financial condition or performance.

The Goldman Sachs 401(k) Plan

Notes to Financial Statements

December 31, 2014 and 2013

Note 3.

Investments at Fair Value

The table below presents a summary of the fair value of the Plan’s investments.


	As of December
$ in thousands	2014		2013
Assets

Bank deposit	$	245,742	$	266,526
Mutual funds		1,671,765		1,646,091
Collective trusts		2,234,905		1,978,275
Managed accounts:
Cash and cash equivalents		2,537		8,146
Certificates of deposit		1,570		—
Securities purchased under agreements to resell		9,000		3,200
Fixed income securities		337,875		376,413
Common and preferred stocks¹		1,714,119		1,704,840
Mutual funds		4,640		7,028
Collective trusts		121,946		141,775
Real estate investment trusts		241,584		180,183
Derivatives		43,399		32,964


Total investment assets at fair value	$	6,629,082	$	6,345,441


Liabilities
Managed accounts:
Derivatives	$	30,073	$	32,366
Investments sold, but not yet purchased, at fair value:
Cash and cash equivalents		—		29
Fixed income securities		42,564		15,452
Common and preferred stocks¹		196,189		165,122
Real estate investment trusts		3,603		2,171


Total investment liabilities at fair value	$	272,429	$	215,140

1.	Excludes real estate investment trusts.

The Goldman Sachs 401(k) Plan

Notes to Financial Statements

December 31, 2014 and 2013

The table below presents the net appreciation/(depreciation) in the fair value of investments (including gains and losses on investments bought and sold as well as held during the year).


	Year Ended December
$ in thousands	2014			2013
Net appreciation/(depreciation) in the fair value of investments
Mutual funds	$	(48,239	)	$	84,162
Collective trusts		189,533			364,024
Managed accounts:
Cash and cash equivalents		(56	)		2,782
Fixed income securities		4,751			28,073
Common and preferred stocks¹		55,509			377,340
Collective trusts		803			558
Real estate investment trusts		47,412			126
Derivatives		(17,566	)		(4,674	)


Total net appreciation in fair value of investments	$	232,147		$	852,391

1.	Excludes real estate investment trusts.

The table below presents the fair value of investments that represent 5% or more of the Plan’s net assets available for benefits:


$ in thousands	As of December
	2014		2013
SSgA S&P 500^® Index Non-Lending Series Fund	$	771,584	$	685,714
Goldman Sachs Mid Cap Value Fund		381,187		350,732
Goldman Sachs Financial Square Money Market Fund		344,461		380,217

The Goldman Sachs 401(k) Plan

Notes to Financial Statements

December 31, 2014 and 2013

Note 4.

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. Financial instruments are marked at closing prices. Fair value measurements do not include transaction costs.

The best evidence of fair value is a quoted price in an active market. If quoted prices in active markets are not available, fair value is determined by reference to prices for similar instruments, quoted prices or recent transactions in less active markets, or internally developed models that primarily use market-based or independently sourced parameters as inputs including, but not limited to, interest rates, volatilities, equity or debt prices, foreign exchange rates, commodity prices, credit spreads, and funding spreads.

U.S. GAAP has a three-level fair value hierarchy for disclosure of fair value measurements. The fair value hierarchy prioritizes inputs to the valuation techniques used to measure fair value, giving the highest priority to level 1 inputs and the lowest priority to level 3 inputs. A financial instrument’s level in the fair value hierarchy is based on the lowest level of input that is significant to its fair value measurement.

The fair value hierarchy is as follows:


Level 1.		Inputs are unadjusted quoted prices in active markets to which the Plan had access at the measurement date for identical, unrestricted assets or liabilities.

Level 2.		Inputs to valuation techniques are observable, either directly or indirectly.

Level 3.		One or more inputs to valuation techniques are significant and unobservable.

Level 1 instruments are valued using quoted market prices for identical unrestricted instruments in active markets. The Plan defines active markets for equity instruments based on the average daily trading volume both in absolute terms and relative to the market capitalization for the instrument. The Plan defines active markets for debt instruments based on both average daily trading volume and the number of days with trading activity.

Valuations of level 2 instruments can be verified to quoted prices, recent trading activity for identical or similar instruments, broker or dealer quotations, or alternative pricing sources with reasonable levels of price transparency.

Level 3 instruments have one or more significant valuation inputs that are not observable. Absent evidence to the contrary, level 3 instruments are initially valued at transaction price, which is considered to be the best initial estimate of fair value. Subsequently, the Plan uses other methodologies to determine fair value, which vary based on the type of instrument and include relevant broker quotations. Valuation inputs and assumptions are changed when corroborated by substantive observable evidence, including values realized on sales of level 3 instruments.

For valuation inputs involving broker quotations, consideration is given to the nature of the quotations (e.g., indicative or firm), and the relationship of recent market activity to the prices provided from alternative pricing sources.

The Goldman Sachs 401(k) Plan

Notes to Financial Statements

December 31, 2014 and 2013

The investment managers and custodian, on behalf of the Plan, use independent pricing sources to value Plan assets traded on exchanges and independent quoted prices or developed models for all assets not traded on exchanges. Investment managers review their valuation approaches on an ongoing basis and revise as necessary based on changing market conditions to ensure their valuations represent a fair value. These valuation approaches are periodically reviewed by the Plan sponsor.

Total Plan investment assets at fair value classified within level 3 as of December 2014 and December 2013 were $124.3 million and $94.6 million, respectively. As of December 2014 and December 2013, such amounts were approximately 1.9% and 1.5%, respectively, of “Investment assets at fair value.” See Note 3 for further information about investments at fair value.

The Goldman Sachs 401(k) Plan

Notes to Financial Statements

December 31, 2014 and 2013

Fair Value of Investment Assets and Investment Liabilities by Level

The tables below present, by level within the fair value hierarchy, investment assets and investment liabilities of the Plan accounted for at fair value. See Note 3 for further information about investments at fair value.


	Investment Assets at Fair Value as of December 2014
$ in thousands	Level 1		Level 2		Level 3			Total
Bank deposit	$	245,742	$	—	$	—		$	245,742
Mutual funds:
Money market		415,926		—		—			415,926
Fixed income		480,727		—		—			480,727
Large cap		143,519		—		—			143,519
Mid cap		381,187		—		—			381,187
International equities		250,406		—		—			250,406

Total mutual funds		1,671,765		—		—			1,671,765

Collective trusts:
Fixed income		47,218		—		—			47,218
Large cap		1,056,473		—		—			1,056,473
Mid cap		171,496		—		—			171,496
Small cap		158,957		—		—			158,957
International equities		145,807		—		—			145,807
Asset allocation (target dates)		654,954		—		—			654,954

Total collective trusts		2,234,905		—		—			2,234,905

Managed accounts:
Cash and cash equivalents		2,537		—		—			2,537
Certificates of deposit		—		1,570		—			1,570
Securities purchased under agreements to resell		—		9,000		—			9,000
Fixed income securities		93,659		142,641		101,575	³		337,875
Common and preferred stocks¹		1,669,120		22,402		22,597	⁴		1,714,119
Mutual funds²		4,640		—		—			4,640
Collective trusts²		121,946		—		—			121,946
Real estate investment trusts		241,584		—		—			241,584
Derivatives		8,087		35,195		117	⁵		43,399

Total managed accounts		2,141,573		210,808		124,289			2,476,670


Total investment assets at fair value	$	6,293,985	$	210,808	$	124,289		$	6,629,082

1.	Excludes real estate investment trusts.

2.	Consists of investments in funds that are primarily composed of fixed income securities.

3.	Principally consists of collateralized debt obligations.

4.	Consists of private equity investments.

5.	Consists of equity swaps.

The Goldman Sachs 401(k) Plan

Notes to Financial Statements

December 31, 2014 and 2013


	Investment Liabilities at Fair Value as of December 2014
$ in thousands	Level 1		Level 2		Level 3			Total
Managed accounts:
Derivatives	$	10,509	$	19,564	$	—		$	30,073
Investments sold, but not yet purchased, at fair value:
Fixed income securities		25,131		14,900		2,533	²		42,564
Common and preferred stocks¹		196,013		176		—			196,189
Real estate investment trusts		3,603		—		—			3,603

Total investment liabilities at fair value	$	235,256	$	34,640	$	2,533		$	272,429

1.	Excludes real estate investment trusts.

2.	Consists of corporate debt instruments.

The Goldman Sachs 401(k) Plan

Notes to Financial Statements

December 31, 2014 and 2013


	Investment Assets at Fair Value as of December 2013
$ in thousands	Level 1		Level 2		Level 3			Total
Bank deposit	$	266,526	$	—	$	—		$	266,526
Mutual funds:
Money market		451,840		—		—			451,840
Fixed income		463,122		—		—			463,122
Large cap		123,753		—		—			123,753
Mid cap		350,732		—		—			350,732
International equities		256,644		—		—			256,644

Total mutual funds		1,646,091		—		—			1,646,091

Collective trusts:
Fixed income		28,239		—		—			28,239
Large cap		927,188		—		—			927,188
Mid cap		159,823		—		—			159,823
Small cap		155,987		—		—			155,987
International equities		—		154,158		—			154,158
Asset allocation (target dates)		552,880		—		—			552,880

Total collective trusts		1,824,117		154,158		—			1,978,275

Managed accounts:
Cash and cash equivalents		8,146		—		—			8,146
Securities purchased under agreements to resell		—		3,200		—			3,200
Fixed income securities		122,450		173,631		80,332	³		376,413
Common and preferred stocks¹		1,672,983		18,359		13,498	⁴		1,704,840
Mutual funds²		7,028		—		—			7,028
Collective trusts²		141,775		—		—			141,775
Real estate investment trusts		180,183		—		—			180,183
Derivatives		—		32,210		754	⁵		32,964

Total managed accounts		2,132,565		227,400		94,584			2,454,549


Total investment assets at fair value	$	5,869,299	$	381,558	$	94,584		$	6,345,441

1.	Excludes real estate investment trusts.

2.	Consists of investments in funds that are primarily composed of fixed income securities.

3.	Principally consists of collateralized debt obligations.

4.	Consists of private equity investments.

5.	Consists of equity swaps.

The Goldman Sachs 401(k) Plan

Notes to Financial Statements

December 31, 2014 and 2013


	Investment Liabilities at Fair Value as of December 2013
$ in thousands	Level 1		Level 2		Level 3			Total
Managed accounts:
Derivatives	$	—	$	32,366	$	—		$	32,366
Investments sold, but not yet purchased, at fair value:
Cash and cash equivalents		29		—		—			29
Fixed income securities		875		14,571		6	²		15,454
Common and preferred stocks¹		163,049		2,073		—			165,122
Real estate investment trusts		2,171		—		—			2,171

Total investment liabilities at fair value	$	166,124	$	49,010	$	6		$	215,142

1.	Excludes real estate investment trusts.

2.	Consists of corporate debt instruments.

Transfers Between Levels of the Fair Value Hierarchy

Transfers between levels of the fair value hierarchy are reported at the beginning of the reporting period in which they occur.

During 2014, transfers into level 1 from level 2 of investments were $154.6 million, primarily reflecting transfers of the international equity collective trusts due to decreased volatility in the underlying indices and increased transparency in the ability to transact daily at the reported NAV.

During 2013, transfers into level 2 from level 1 of investments were $8.3 million, reflecting transfers of preferred stock due to decreased market activity in these instruments. During 2013, transfers into level 1 from level 2 of investments were $1.9 million, reflecting transfers of U.S. government and federal agency obligations, due to increased market activity in these instruments.

The Goldman Sachs 401(k) Plan

Notes to Financial Statements

December 31, 2014 and 2013

Level 3 Rollforward

The tables below present changes in fair value for all investment assets categorized as level 3 as of the end of the period:


	Level 3 Investment Assets at Fair Value for the
	Year Ended December 2014
$ in thousands	Fixed Income Securities			Common and Preferred Stock			Derivative Assets			Total
Balance, beginning of year	$	80,332		$	13,498		$	754		$	94,584
Net realized gains/(losses)¹		6,774			(1,013	)		9			5,770
Net unrealized gains/(losses) relating to instruments still held at year-end¹		(13,889	)		2,844			61			(10,984	)
Purchases		57,715			13,550			1			71,266
Sales		(29,807	)		(255	)		(22	)		(30,084	)
Settlements		(12,093	)		(4,568	)		(4	)		(16,665	)
Transfers into level 3		12,671			—			—			12,671
Transfers out of level 3		(128	)		(1,459	)		(682	)		(2,269	)

Balance, end of year	$	101,575		$	22,597		$	117		$	124,289

^1.	Included in “Net appreciation in the fair value of investments.”

Transfers into level 3 of $12.7 million during 2014 primarily reflected transfers of certain corporate debt instruments and loans secured by mortgages from level 2 primarily due to reduced price transparency as a result of a lack of market evidence, including decrease market transactions in these instruments.

Transfers out of level 3 into level 1 of $2.3 million during 2014 were primarily the result of initial public offerings of certain private equity investments and the subsequent price transparency due to listing on public exchanges.

The Goldman Sachs 401(k) Plan

Notes to Financial Statements

December 31, 2014 and 2013


	Level 3 Investment Assets at Fair Value for the
	Year Ended December 2013
$ in thousands	Stable Value Fund			Fixed Income Securities			Common and Preferred Stock			Derivative Assets			Total
Balance, beginning of year	$	556,550		$	62,160		$	2,223		$	—		$	620,933
Net realized gains/(losses)¹		—			4,264			59			44			4,367
Net unrealized gains/(losses) relating to instruments still held at year-end¹		—			2,865			(542	)		354			2,677
Purchases		6,527			32,956			11,817			42			51,342
Sales		(563,077	)		(20,070	)		(59	)		—			(583,206	)
Settlements		—			(10,334	)		—			(44	)		(10,378	)
Transfers into level 3		—			9,931			—			358			10,289
Transfers out of level 3		—			(1,440	)		—			—			(1,440	)

Balance, end of year	$	—		$	80,332		$	13,498		$	754		$	94,584

^1.	Included in “Net appreciation in the fair value of investments.”

Transfers into level 3 of $10.3 million during 2013 primarily reflected transfers of bank loans, included in fixed income securities, from level 2 primarily due to reduced price transparency as a result of a lack of market evidence, including decrease market transactions in these instruments.

Transfers out of level 3 of $1.4 million during 2013 primarily reflected transfers of certain collateralized loan obligations and bank loans into level 2 primarily due to increased price transparency as a result of market evidence, including market transactions in these instruments.

The Goldman Sachs 401(k) Plan

Notes to Financial Statements

December 31, 2014 and 2013

Note 5.

Description of the Plan’s Investment Contracts

Fully benefit-responsive investment contracts held by a defined contribution plan are required to be reported at fair value rather than contract value with an offsetting asset or liability in the statements of net assets available for benefits to reconcile to contract value. The statements of changes in net assets available for Plan benefits are prepared on a contract value basis.

Effective June 1, 2013, the Plan’s Stable Value Fund (the Stable Value Fund) was closed, and its underlying synthetic guaranteed investment contracts were terminated. All assets remaining in the Stable Value Fund as of such date were liquidated and transferred at fair value, which equaled contract value, to other investment options under the Plan.

The table below presents the average yields earned by the Stable Value Fund.


	Year Ended December
	2013
Based on actual earnings¹		0.07%
Based on interest rate credited to participants²		6.41%	³

1.	Computed by dividing the annualized one-day actual earnings of the Stable Value Fund on June 1, 2013 by the fair value of the investments of the Stable Value Fund on the same date.

2.	Computed by dividing the annualized one-day earnings credited to participants in the Stable Value Fund on June 1, 2013 by the fair value of the investments of the Stable Value Fund on the same date.

Rate is for the period January 1, 2013 through June 1, 2013 (the date on which the Stable Value Fund was closed). In connection with the Stable Value Fund’s closure, the interest rate credited to participants for the period reflects the amortization of realized gains associated with the redemption of the Stable Value Fund’s underlying investments.

The Goldman Sachs 401(k) Plan

Notes to Financial Statements

December 31, 2014 and 2013

Note 6.

Related Party Transactions and Party In Interest Transactions

An affiliate of the firm manages several mutual fund investment options within the Plan. These investments include the Goldman Sachs Financial Square Treasury Obligations Fund, Goldman Sachs Financial Square Money Market Fund, Goldman Sachs Short Duration Government Fund, Goldman Sachs Core Fixed Income Fund, Goldman Sachs High Yield Fund, Goldman Sachs Large Cap Value Fund, Goldman Sachs Strategic Income Fund and Goldman Sachs Mid Cap Value Fund, each of which is an investment company registered under the Investment Company Act of 1940. No fees were paid for 2014 and 2013, or were payable by the Plan as of December 2014 and December 2013, for investment management services relating to any of these funds; however, investment advisory fees may be paid from the funds to the firm or its affiliates.

The Plan offers as an investment option the Company Stock Fund, which primarily invests in shares of the firm’s common stock. As of December 2014 and December 2013, the Plan’s interest in the Company Stock Fund represented 609,988 and 643,414 shares of the firm’s common stock with a fair market value of $118.2 million and $114.1 million respectively. Purchases of $3.5 million and $4.5 million and sales of $9.4 million and $8.8 million of the firm’s common stock were made through the Company Stock Fund during 2014 and 2013, respectively. The Company Stock Fund is managed by an affiliate of the Trustee.

Effective June 1, 2013, GSAM Stable Value, LLC (GSAM Stable Value, formerly called Dwight Asset Management Company, LLC), an affiliate of the firm, manages a laddered fixed income investment option in the Plan. No fees are paid to GSAM Stable Value for acting as the laddered fixed income investment manager. This investment option includes collective trust funds that are subadvised by GSAM Stable Value and sponsored by Goldman Sachs Trust Company, N.A. (GSTC), and as such these investments are classified as related party transactions and party-in-interest transactions. Investment advisory fees are paid from the collective trust funds to GSTC, and may be shared with GSAM Stable Value and other affiliates.

Effective June 1, 2013, GS Bank USA, an affiliate of the firm, has a deposit obligation to the Plan under the Plan’s Bank Deposit option. No fees were paid for 2014 and 2013, or were payable by the Plan as of December 2014 and December 2013, for Bank Deposit obligations.

In addition, an affiliate of the Trustee manages several investment options within the Plan. These investments include the SSgA S&P 500^® Index Non-Lending Series Fund, SSgA S&P MidCap^® Index Non-Lending Series Fund, SSgA Russell Small Cap^® Index Non-Lending Series Fund, and SSgA Emerging Markets Index Non-Lending Series Fund, each of which are collective trust funds. Fees associated with the management of these funds qualify as party-in-interest transactions.

The Goldman Sachs 401(k) Plan

Notes to Financial Statements

December 31, 2014 and 2013

Note 7.

Plan Termination

The firm intends to continue the Plan indefinitely but reserves the right to discontinue or amend the Plan at any time subject to the provisions of ERISA. In the event of discontinuance, affected participants will become fully vested in the Firm Contributions and the related investment income as required by ERISA.

Note 8.

Income Tax Status

The Internal Revenue Service has determined and informed the firm by a letter dated November 20, 2012, that the Plan and Master Trust are designed in accordance with applicable sections of the Internal Revenue Code. Although the Plan has been amended since the receipt of the letter, Plan management believes that the Plan continues to be designed and operated in all material respects in compliance with the applicable requirements of the Internal Revenue Code.

Note 9.

Reconciliation of Financial Statements to Form 5500

The tables below present the reconciliations from the Plan’s financial statements to the Form 5500.


	As of December
$ in thousands	2014			2013
Net assets available for benefits, per Statements of Net Assets Available for Benefits	$	6,645,248		$	6,343,208
Reduce by amounts allocated to withdrawing participants		(27,632	)		(23,251	)

Net assets, per the Form 5500	$	6,617,616		$	6,319,957


	Year Ended December
$ in thousands	2014			2013
Benefits paid, per Statements of Changes in Net Assets Available for Benefits	$	355,559		$	371,302
Add amounts allocated to withdrawing participants, end of year		27,632			23,251
Reduce for amounts allocated to withdrawing participants, beginning of year		(23,251	)		(29,402	)

Benefits paid to participants, per the Form 5500	$	359,940		$	365,151

Amounts allocated to withdrawing participants are recorded on the Form 5500 for benefit claims that have been processed and approved for payment prior to December 2014 and December 2013, but had not yet been paid as of that date.

The Goldman Sachs 401(k) Plan

Notes to Financial Statements

December 31, 2014 and 2013


	Year Ended December
$ in thousands	2014		2013
Total net appreciation, per Statements of Changes in Net Assets Available for Benefits	$	232,147	$	852,391
Reduce prior year adjustments from fair value to contract value for fully benefit-responsive investment contracts		—		(6,740	)

Total net appreciation, per the Form 5500	$	232,147	$	845,651

Note 10.

Financial Instruments with Off-Balance Sheet Risk

In accordance with the investment strategy of the separately managed accounts, the Plan’s investment managers execute transactions in various financial instruments that may give rise to varying degrees of off-balance sheet market and credit risk, including investments sold, but not yet purchased. These investment liabilities involve obligations to deliver specified securities at contracted prices and thereby create a liability to purchase the securities at prevailing future market prices. Accordingly, these transactions result in off-balance sheet risk as the Plan’s ultimate obligation to satisfy the sale of investments sold, but not yet purchased, may exceed the amount recognized in the financial statements.

Derivatives are instruments that derive their value from underlying asset prices, indices, reference rates and other inputs, or a combination of these factors. Derivatives may be traded on an exchange (exchange-traded) or they may be privately negotiated contracts, which are usually referred to as OTC derivatives. The Plan enters into various types of derivatives, including:

•

Futures and Forwards. Contracts that commit counterparties to purchase or sell financial instruments, commodities or currencies in the future.

•

Swaps. Contracts that require counterparties to exchange cash flows such as currency or interest payment streams. The amounts exchanged are based on the specific terms of the contract with reference to specified rates, financial instruments, commodities, currencies or indices.

•

Options. Contracts in which the option purchaser has the right, but not the obligation, to purchase from or sell to the option writer financial instruments, commodities or currencies within a defined time period for a specified price.

Market risk includes risk that arises from the potential for changes in value of financial instruments resulting from fluctuations in interest and foreign exchange rates, in prices of commodities, and in prices of debt and equity securities. In many cases, these financial instruments serve to reduce, rather than increase, the Plan’s exposure to losses from market or other risks. In addition, the measurement of market risk is meaningful only when all related and offsetting transactions are identified. The investment managers may limit the Plan’s market risk by holding or purchasing offsetting positions.

As a writer of option contracts, the Plan receives a premium to become obligated to buy or sell financial instruments for a period of time at the holder’s option. During this period, the Plan bears the risk of an unfavorable change in the market value of the financial instrument underlying the option, but has no credit risk, as the counterparty has no performance obligation to the Plan once it has paid its cash premium.

The Plan is subject to credit risk of counterparty nonperformance on derivative assets, except for written options, which obligate the Plan to perform and do not give rise to any counterparty credit risk.

The Goldman Sachs 401(k) Plan

Notes to Financial Statements

December 31, 2014 and 2013

Derivatives are accounted for at fair value. Derivatives are recorded on a gross basis in the statements of net assets available for benefits. The tables below present the fair value and the notional amount of derivative contracts by major product type on a gross basis. Gross fair values exclude the effects of both counterparty netting and collateral, and therefore are not representative of the Plan’s exposure. The tables below also present the amounts of counterparty netting and collateral that have not been offset in the statements of net assets available for benefits. Notional amounts, which represent the sum of gross long and short derivative contracts, provide an indication of the volume of the Plan’s derivative activity and do not represent anticipated losses.


	As of December 2014
	Derivative			Derivative			Notional
$ in thousands	Assets			Liabilities			Amount
Interest rates	$	2,159		$	2,135		$	12,245,891
Credit		1,122			1,077			30,277
Currencies		7,022			1,526			220,336
Commodities		8,080			6,329			73,946
Equities		25,016			19,006			705,369

Gross fair value/notional amount of derivatives	$	43,399		$	30,073		$	13,275,819

Amounts that have not been offset in the statement of net assets available for benefits:
Counterparty netting		(12,229	)		(12,229	)
Collateral received/posted		(7,916	)		(9,127	)

Total	$	23,254		$	8,717


	As of December 2013
	Derivative			Derivative			Notional
$ in thousands	Assets			Liabilities			Amount
Interest rates	$	515		$	670		$	210,802
Credit		1,072			1,651			42,515
Currencies		4,568			4,325			277,801
Commodities		535			585			71,888
Equities		26,274			25,135			1,807,849

Gross fair value/notional amount of derivatives	$	32,964		$	32,366		$	2,410,855

Amounts that have not been offset in the statement of net assets available for benefits:
Counterparty netting		(14,193	)		(14,193	)
Collateral received/posted		(736	)		(9,396	)

Total	$	18,035		$	8,777

The Goldman Sachs 401(k) Plan

Notes to Financial Statements

December 31, 2014 and 2013

The table below presents the net appreciation/(depreciation) in the fair value of derivatives (including gains and losses on derivatives bought and sold as well as held during the year) by major product type.


	Year Ended December
$ in thousands	2014			2013
Interest rates	$	(78	)	$	2,792
Credit		(417	)		(562	)
Currencies		14,075			(1,078	)
Commodities		94			145
Equities		(31,240	)		(5,971	)

Total	$	(17,566	)	$	(4,674	)

The Plan’s investment managers enter into various derivative transactions that are considered credit derivatives under U.S. GAAP. The Plan’s written and purchased credit derivatives include credit default swaps and total return swaps. Substantially all of the Plan’s written and purchased credit derivative transactions are with financial institutions and are subject to stringent collateral thresholds.

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
Bank Deposits
GS BANK DEPOSIT		245,742,176		$	245,742,176


Total Bank Deposits		245,742,176		$	245,742,176


Collective Trusts
SSGA S&P 500® INDEX NON-LENDING SERIES FUND		17,919,653		$	771,584,433
SSGA EMERGING MARKETS INDEX NON-LENDING SERIES FUND		5,639,180			145,806,625
SSGA S&P MIDCAP® INDEX NON-LENDING SERIES FUND		6,513,339			171,496,226
SSGA RUSSELL SMALL CAP® INDEX NON-LENDING SERIES FUND		7,148,613			158,956,555
BLACKROCK/EQUITY VALUE FUND		6,339,879			157,198,578
BLACKROCK/EQUITY GROWTH FUND		6,425,434			127,690,086
BLACKROCK/20+ TREASURY BOND FUND		1,161,879			47,218,065
BLACKROCK/LIFEPATH INDEX ET NL FUND		2,714,589			30,817,101
BLACKROCK/LIFEPATH INDEX 2020 NL FUND		3,307,499			39,115,150
BLACKROCK/LIFEPATH INDEX 2025 NL FUND		5,776,769			69,991,908
BLACKROCK/LIFEPATH INDEX 2030 NL FUND		5,728,288			70,841,164
BLACKROCK/LIFEPATH INDEX 2035 NL FUND		7,592,416			95,643,187
BLACKROCK/LIFEPATH INDEX 2040 NL FUND		8,698,826			111,338,013
BLACKROCK/LIFEPATH INDEX 2045 NL FUND		9,510,687			123,676,979
BLACKROCK/LIFEPATH INDEX 2050 NL FUND		6,700,733			88,379,315
BLACKROCK/LIFEPATH INDEX 2055 NL FUND		1,884,110			25,151,552


Total Collective Trusts		103,061,896		$	2,234,904,937


Mutual Funds
ASHMORE EMERGING MARKETS LOCAL CURRENCY BOND FUND		2,551,497		$	20,463,008
DODGE & COX INTERNATIONAL STOCK FUND		1,353,882			57,011,963
GMO INTERNATIONAL EQUITY FUND		8,806,611			193,393,173
GOLDMAN SACHS CORE FIXED INCOME FUND		4,975,451			52,739,777
GOLDMAN SACHS FINANCIAL SQUARE MONEY MARKET FUND		344,461,339			344,461,339
GOLDMAN SACHS FINANCIAL SQUARE TREASURY OBLIGATIONS FUND		71,464,918			71,464,918
GOLDMAN SACHS HIGH YIELD FUND		20,832,401			140,618,707
GOLDMAN SACHS LARGE CAP VALUE FUND		8,085,573			143,518,924
GOLDMAN SACHS MID CAP VALUE FUND		9,167,566			381,187,379
GOLDMAN SACHS STRATEGIC INCOME FUND		2,599,380			26,721,622
GOLDMAN SACHS SHORT DURATION GOVERNMENT FUND		6,973,136			70,219,477
VANGUARD INFLATION-PROTECTED SECURITIES FUND		7,164,063			75,509,226
WESTERN ASSET CORE PLUS BOND FUND		8,114,736			94,455,531


Total Mutual Funds		496,550,552		$	1,671,765,043


Managed Accounts
Collective Trusts
TERM FUND 2014		452		$	4,772,257
TERM FUND 2015		2,749			29,764,861
TERM FUND 2016		2,912			30,452,596
TERM FUND 2017		2,949			29,677,866
TERM FUND 2018		2,681			27,278,138


Total Collective Trusts		11,743		$	121,945,718


Mutual Funds
PIMCO FDS SHORT TERM FLTG NAV		463,585		$	4,639,556


Total Mutual Funds		463,585		$	4,639,556


Common Stock
3D SYSTEMS CORP		(20,056	)	$	(659,241)
3M CO		(1,757	)		(288,710)
58.COM INC-ADR		15,053			625,452
7 ELEVEN MALAYSIA HOLDINGS B		297,000			127,413
AAC TECHNOLOGIES HOLDINGS IN		102,915			553,403
ABBOTT LABORATORIES		33,940			1,527,979
ABBVIE INC		200			13,088
ACADIA HEALTHCARE CO INC		15,085			923,353
ACCENTURE PLC-CL A		(3,189	)		(284,810)
ACCESS MIDSTREAM PARTNERS LP		7,354			398,587
ACHAOGEN INC		11,000			143,550
ACHILLION PHARMACEUTICALS		5,700			69,825
ACTAVIS PLC		98,163			25,268,138
ACTIVISION BLIZZARD INC		(63,190	)		(1,273,279)
ACTUANT CORP-A		(9,041	)		(246,277)
ADELPHIA CONTINGENT VALUE		2,537,894			508
ADELPHIA RECOVERY TRUST		5,475,113			48,675
ADOBE SYSTEMS INC		62,000			4,507,400
ADT CORP/THE		13,900			503,597
ADVANCE AUTO PARTS INC		(2,432	)		(387,369)
ADVANCE PURCHASE		89,000			6,461,213
ADVANCED DRAINAGE SYSTEMS INC		2,300			52,854

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
ADVANCED EMISSIONS SOLUTIONS		8,000			182,320
ADVANCED MICRO DEVICES		(391,361	)		(1,044,934)
AERCAP HOLDINGS NV		253,248			9,831,087
AERIE PHARMACEUTICALS INC		27,955			816,006
AFFIMED NV		21,600			133,920
AFLAC INC		(4,890	)		(298,730)
AFRICAN BANK INVESTMENTS LTD		302,044			8,094
AGCO CORP		(3,010	)		(136,052)
AGIOS PHARMACEUTICALS INC		5,661			634,258
AHERN RENTALS INC CVR		547			27
AIA GROUP LTD		1,715,537			9,527,751
AIR LIQUIDE SA		29,400			3,658,938
AIR PRODUCTS & CHEMICALS INC		90,085			12,992,960
AISIN SEIKI CO LTD		1,200			43,594
AJINOMOTO CO INC		18,000			336,787
AK STEEL HOLDING CORP		18,465			109,682
AKAMAI TECHNOLOGIES INC		2,600			163,696
AKFEN HOLDING AS		54,399			109,368
ALBEMARLE CORP		(26,327	)		(1,583,043)
ALEXANDER + BALDWIN INC		23,555			924,769
ALEXION PHARMACEUTICALS INC		17,197			3,181,961
ALFA LAVAL AB		(23,520	)		(446,781)
ALIBABA GROUP HOLDING SP ADR		24,141			2,509,216
ALIMENTATION COUCHE-TARD -B		(18,890	)		(791,050)
ALIOR BANK SA		15,119			331,920
ALKERMES PLC		12,194			714,081
ALL AMERICA LATINA LOGISTICA		174,800			332,739
ALLEGION PLC		38,919			2,158,448
ALLERGAN INC		116,906			24,853,047
ALLETE INC		17,300			953,922
ALLIANZ SE REG		21,900			3,639,789
ALLISON TRANSMISSION HOLDING		32,064			1,086,970
ALLSCRIPTS HEALTHCARE SOLUTI		97,314			1,242,700
ALLY FINANCIAL INC		71,091			1,679,169
ALPHA NATURAL RESOURCES INC		(19,800	)		(33,066)
ALPS ELECTRIC CO LTD		(1,500	)		(28,891)
ALROSA AO		830,248			885,459
ALTISOURCE PORTFOLIO SOLUTIONS		110,499			3,733,761
ALTRA INDUSTRIAL MOTION CORP		19,160			543,952
ALTRIA GROUP INC		(10,251	)		(505,067)
AMADEUS IT HOLDING SA		73,400			2,938,775
AMAZON.COM INC		15,400			4,779,390
AMBARELLA INC		(20,153	)		(1,022,160)
AMBUJA CEMENT REG S GDR		55,709			202,224
AMBUJA CEMENTS LTD		173,712			628,828
AMERICA MOVIL SPN ADR CL L		36,215			803,249
AMERICAN AIRLINES GROUP INC		73,180			3,924,643
AMERICAN EAGLE ENERGY CORP		136,740			85,134
AMERICAN ELECTRIC POWER		(6,004	)		(364,563)
AMERICAN EXPRESS CO		6,700			623,368
AMERICAN INTERNATIONAL GROUP		207,435			11,618,434
AMERICAN WOODMARK CORP		38,733			1,566,363
AMERIPRISE FINANCIAL INC		6,200			819,950
AMERIS BANCORP		76,578			1,963,460
AMERISOURCEBERGEN CORP		335			30,204
AMETEK INC		71,069			3,740,361
AMGEN CORP		1,459			232,404
AMR CORP		237,719			435,471
AMR CORP EXP		74,074			135,694
ANACOR PHARMACEUTICALS INC		15,788			509,163
ANADARKO PETROLEUM CORP		23,800			1,963,500
ANADOLU EFES BIRACILIK VE		92,735			900,475
ANGLO AMERICAN PLC		242,527			4,522,320
ANGLO IRISH BANK CORP PLC		43,800			—
ANHEUSER-BUSCH INBEV NV		7,580			860,723
ANHEUSER-BUSCH INBEV SPN ADR		43,199			4,852,112
ANHUI CONCH CEMENT CO LTD H		500,881			1,879,551
ANTERO MIDSTREAM PARTNERS LP		(1,628	)		(44,770)
ANTERO RESOURCES CORP		2,406			97,635
ANTHEM INC		(2,390	)		(300,351)
APCOA HLCO EQ		57			—
APOGEE ENTERPRISES INC		15,025			636,609
APPLE INC		86,460			9,543,455
APPLIED INDUSTRIAL TECH INC		15,740			717,587
APPLIED MATERIALS INC		180,262			4,492,129
APPLIED MICRO CIRCUITS CORP		61,465			400,752
ARATANA THERAPEUTICS INC		42,780			762,340
ARCELOR MITTAL STEEL COMPANY N.V.		(90,850	)		(1,002,076)
ARCELORMITTAL		(21,069	)		(231,704)
ARCHER-DANIELS-MIDLAND CO		(5,838	)		(303,576)
ARCTIC CAT INC		18,760			665,980
ARDEPRO CO LTD		14,100			18,584
ARGO GROUP INTERNATIONAL		9,000			499,230
ARISTA NETWORKS INC		1,972			119,819
ARM HOLDINGS PLC		150,100			2,328,732
ARMOUR ENERGY LTD		176,493			7,067
ARMSTRONG WORLD INDUSTRIES		11,859			606,232
ARUBA NETWORKS INC		16,970			308,515

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
ASBURY AUTOMOTIVE GROUP		10,703			812,572
ASHLAND INC		32,200			3,856,272
ASM PACIFIC TECHNOLOGY		88,871			848,044
ASPEN TECHNOLOGY INC		31,083			1,088,527
ASSURANT INC		(3,892	)		(266,330)
AT&T INC		(171,185	)		(5,750,104)
ATHENAHEALTH INC		17,061			2,485,788
ATLAS COPCO AB A SHS		69,100			1,927,818
ATLAS ENERGY LP		361,432			11,258,607
ATLAS PIPELINE PARTNERS LP		187,000			5,097,620
ATLAS RESOURCE PARTNERS LP		350,137			3,746,466
ATMEL CORP		4,865			40,842
ATTIJARIWAFA BANK		2,875			109,125
AUTODESK INC		44,470			2,670,868
AUTOHOME INC-ADR		(8,043	)		(292,443)
AUTONATION INC		32,628			1,971,057
AUTOZONE INC		(601	)		(372,085)
AUXILIUM PHARMACEUTICALS INC		11,750			404,024
AVAGO TECHNOLOGIES LTD		9,290			934,481
AVIS BUDGET GROUP INC		(2,540	)		(168,478)
AVON PRODUCTS INC		(53,513	)		(502,487)
AXA IMMOSELECT		13,014			137,640
AXIS BANK LTD		252,655			2,008,512
B/E AEROSPACE INC		98,242			5,700,001
BAIDU INC SPON ADR		48,767			11,117,413
BANCO BILBAO VIZCAYA ARGENTA		188,100			1,787,652
BANCO MACRO SA ADR		9,113			398,511
BANCO SANTANDER BRASIL ADS		101,761			510,840
BANCOLOMBIA S.A. SPONS ADR		12,535			600,176
BANCOLOMBIA S.A.		24,800			288,438
BANK OF AMERICA CORP		9,163			163,926
BANK OF CHINA LTD - H		225,000			126,781
BANK OF MONTREAL		(20,250	)		(1,432,015)
BANK PEKAO SA REG S GDR		24,100			1,236,330
BANK TABUNGAN PENSIUNAN NASL		200,100			63,819
BANKRATE INC		25,620			318,457
BAXTER INTERNATIONAL INC		4,135			303,054
BAYERISCHE MOTOREN WERKE AG		25,630			2,784,090
BEAZER HOMES USA INC		(3,970	)		(76,859)
BECTON DICKINSON AND CO		4,400			612,304
BEIJING URBAN CONSTRUCTION-H		229,000			107,775
BELLE INTERNATIONAL HOLDINGS		573,000			643,575
BELLICUM PHARMACEUTICALS INC		945			21,773
BENEFITFOCUS INC		15,370			504,751
BEST BUY CO INC		3,892			151,710
BG GROUP PLC		189,410			2,554,670
BHP BILLITON LTD-SPON ADR		(28,674	)		(1,356,854)
BIDVEST GROUP LTD		55,627			1,461,172
BIG C SUPERCENTER PCL FORGN		80,900			582,775
BIOCRYST PHARMACEUTICALS INC		56,425			686,128
BIOGEN IDEC INC		9,400			3,190,830
BITAUTO HOLDINGS LTD-ADR		(5,051	)		(355,641)
BLACK HILLS CORP		11,500			609,960
BLACKBERRY LTD		(126,141	)		(1,385,028)
BLOOMIN BRANDS INC		19,465			481,953
BLUEBIRD BIO INC		1,186			108,780
BLUESTONE GLOBAL LTD		337,069			—
BOEING CO/THE		13,000			1,689,740
BOISE CASCADE CO		28,065			1,042,615
BOMBARDIER INC B		(162,828	)		(581,178)
BONANZA CREEK ENERGY INC		13,118			314,832
BORA BORA RESOURCES LTD		29,145			4,883
BORGWARNER INC		13,646			749,848
BOSTON PRIVATE FINL HOLDING		44,700			602,109
BOSTON SCIENTIFIC CORP		37,795			500,784
BREITLING ENERGY CORP		(493	)		(219)
BRIDGE CAPITAL HOLDINGS		43,802			980,289
BRISTOW GROUP INC		(3,970	)		(261,186)
BROOKDALE SENIOR LIVING INC		72,973			2,675,920
BRUNSWICK CORP		16,636			852,761
BUFFALO WILD WINGS INC		4,585			827,042
BUNGE LTD		28,510			2,591,844
BURLINGTON STORES INC		20,141			951,864
C.H. ROBINSON WORLDWIDE INC		5,323			398,639
CABELA S INC		11,091			584,607
CABLEVISION SYSTEMS-NY GRP-A		(65,615	)		(1,354,294)
CABOT OIL & GAS CORP		101,295			2,999,345
CACI INTERNATIONAL INC CL A		6,460			556,723
CADENCE DESIGN SYS INC		1,885			35,758
CAESARS ACQUISITION CO		39,311			405,296
CAESARS ENTERTAINMENT CORP		389,242			6,107,207
CALLON PETROLEUM CO		222,176			1,210,859
CALPINE CORP		87,482			1,935,977
CANADIAN NATL RAILWAY CO		30,381			2,096,394
CANADIAN PACIFIC RAILWAY LTD		66,030			12,707,389
CAPITAL ONE FINANCIAL CORP		11,905			982,758
CAPITALAND LTD SHORT		(41,000	)		(102,508)
CAPITEC BANK HOLDINGS LTD		8,636			253,808

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
CAPMARK FINANCIAL GROUP INC		113,694			545,731
CARBONITE INC		17,685			252,365
CARDINAL HEALTH INC		8,000			645,840
CARDTRONICS INC		19,550			754,239
CARMAX INC		3,227			214,854
CARNIVAL CORP		6,018			272,796
CARRIZO OIL + GAS INC		9,280			386,048
CASCADE BANCORP		80,300			416,757
CASTLIGHT HEALTH INC-B		18,710			218,907
CATAMARAN CORP		15,843			819,875
CATHAY FINANCIAL HOLDING CO		122,000			180,999
CBL & ASSOCIATES PROPERTIES		(16,899	)		(328,179)
CBS CORP-CLASS B NON VOTING		184,402			10,204,807
CCR SA		48,962			283,840
CDK GLOBAL INC		71,345			2,908,022
CDW CORP/DE		4,933			173,494
CELADON GROUP INC		5,925			134,438
CELGENE CORP		92,645			10,363,270
CEMBRA MONEY BANK AG		8,700			481,243
CEMEX SAB-SPONS ADR PART CER		(9,438	)		(96,173)
CENTRAL PATTANA PUB CO FOREI		1,079,412			1,492,804
CENTURY COMMUNITIES INC		11,500			198,720
CENTURYLINK INC		(24,806	)		(981,821)
CEPHEID INC		45,245			2,449,564
CERNER CORP		40,504			2,618,989
CGX ENERGY INC		3,892			636
CHARLES SCHWAB CORP/THE		(50,500	)		(1,524,595)
CHART INDUSTRIES INC		2,445			83,619
CHC GROUP LTD		(7,439	)		(23,954)
CHEESECAKE FACTORY INC/THE		13,750			691,763
CHESAPEAKE ENERGY CORP		(14,334	)		(280,516)
CHEUNG KONG INFRASTRUCTURE		8,000			59,210
CHEVRON CORP		(44,074	)		(4,944,221)
CHICAGO BRIDGE & IRON CO		(2,345	)		(98,443)
CHIMERA INVESTMENT CORP		2,137,899			6,798,519
CHINA CINDA ASSET MANAGEME-H		4,127,000			2,011,483
CHINA CITIC BANK CORP LTD-H		97,000			77,795
CHINA CNR CORP LTD-H		179,500			257,371
CHINA CONSTRUCTION BANK-H		301,000			247,227
CHINA CREATIVE HOME GROUP LT		564,000			130,901
CHINA FOODS LTD		289,460			99,288
CHINA HUISHAN DAIRY HOLDINGS		970,000			168,848
CHINA LIFE INSURANCE CO-H		15,000			58,894
CHINA MEDICAL TECH-SPON ADR		9,062			—
CHINA MENGNIU DAIRY CO		228,000			940,831
CHINA MERCHANTS BANK H		657,445			1,649,791
CHINA MERCHANTS HLDGS INTL		20,000			67,307
CHINA MINSHENG BANKING - H-SHRS		16,500			21,701
CHINA MOBILE LTD		62,698			733,310
CHINA OVERSEAS LAND & INVEST		259,251			772,627
CHINA PETROLEUM & CHEM-ADR		(5,421	)		(439,155)
CHINA PETROLEUM & CHEMICAL-H		11,000			8,865
CHINA PHARMACEUTICAL GROUP		312,000			275,170
CHINA RESOURCES ENTERPRISE		511,377			1,073,550
CHINA SHIPPING CONTAINER-H		509,000			160,796
CHINA TRADITIONAL CHINESE MEDICINE CO LTD		262,000			151,345
CHINA UNICOM HONG KONG LTD		267,000			358,043
CHIPOTLE MEXICAN GRILL INC		6,336			4,337,055
CHUBB CORP		(14,350	)		(1,484,795)
CHURCHILL DOWNS INC		10,880			1,036,864
CIA BRASILEIRA DE DIS SP PRF		5,022			184,960
CIE GENERALE DES ETABLISSEMENT		59,600			5,428,844
CIENA CORP		49,998			970,461
CIGNA CORP		22,854			2,351,905
CIMAREX ENERGY CO		18,975			2,011,350
CIMB GROUP HOLDINGS BHD		562,633			894,677
CIMPOR-CIMENTOS DE PORTUGAL		70,702			100,443
CISCO SYSTEMS INC		35,403			984,734
CITIC LTD		76,000			129,549
CITIC SECURITIES CO LTD-H		7,000			26,355
CITIGROUP INC		216,600			11,720,226
CITRIX SYSTEMS INC		1,282			81,792
CJ E&M CORP		11,856			414,149
CLAYTON WILLIAMS ENERGY INC		6,200			395,560
CLEAN HARBORS INC		(9,730	)		(467,527)
CLECO CORPORATION		2,140			116,716
CLOROX COMPANY		(7,581	)		(790,016)
CLOUD PEAK ENERGY INC		26,600			244,188
COBIZ FINANCIAL INC		48,358			634,941
COCA COLA HBC AG CDI		55,279			1,058,460
COCA COLA ICECEK AS		13,248			286,183
COCA-COLA CO/THE		(10,660	)		(450,065)
COCA-COLA ENTERPRISES		90,914			4,020,217
COGNIZANT TECH SOLUTIONS A		40,552			2,135,468
COMCAST CORP		82,000			4,720,330
COMCAST CORP CLASS A		148,340			8,605,203
COMMERCIAL METALS CO		9,215			150,112
COMMSCOPE HOLDING CO INC		74,208			1,694,169

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
COMMUNITY HEALTH SYSTEMS INC		9,503			512,402
CONCHO RESOURCES INC		4,900			488,775
CONOCOPHILLIPS		(74,938	)		(5,175,218)
CONSOLIDATED EDISON INC		(57,583	)		(3,801,054)
CONSTELLATION BRANDS INC-A		1,600			157,072
CONSUMER STAPLES SELECT SECTOR SPDR		(14,638	)		(709,797)
CONTINENTAL RESOURCES INC/OK		1,200			46,032
COOPER COS INC/THE		500			81,045
CORE LABORATORIES N.V.		1,426			171,605
CORP MOCTEZUMA SER		92,284			286,123
COSTCO WHOLESALE CORP		5,500			779,625
COTT CORP		45,690			314,347
COUPONS.COM INC		3,200			56,800
COVIDIEN PLC		102,963			10,531,056
CREDICORP LTD		7,500			1,201,350
CREE INC		(35,720	)		(1,150,898)
CROWN CASTLE INTL CORP		157,072			12,361,566
CS EUROREAL-A EUR		23,732			800,948
CSL LTD		33,700			2,390,495
CTRIP.COM INTERNATIONAL ADR		38,081			1,732,686
CU BANCORP		32,477			704,426
CURTISS WRIGHT CORP		10,745			758,490
CVS HEALTH CORP		10,900			1,049,779
DABUR INDIA LTD		146,112			543,732
DAIBIRU CORP		13,900			131,718
DALIAN WANDA COMMERCIAL PR-H		609,600			3,890,813
DANAHER CORP		37,000			3,171,270
DASSAULT SYSTEMES SA		77,746			4,754,629
DBS GROUP HOLDINGS LTD		116,000			1,803,336
DDR CORP		(8,776	)		(161,127)
DEGI EUROPA		18,184			224,005
DELPHI AUTOMOTIVE PLC		5,670			412,322
DELTA AIR LINES INC		76,592			3,767,560
DEMANDWARE INC		8,995			517,572
DENA CO LTD		34,200			412,523
DENNYS CORP		6,458			66,582
DEUTSCHE POST AG-REG		18,967			620,736
DEVON ENERGY CORP		20,205			1,236,748
DEXCOM INC		26,790			1,474,790
DIALOG AXIATA PLC		1,678,010			170,103
DIAMOND OFFSHORE DRILLING		(5,707	)		(209,504)
DIAMONDBACK ENERGY INC		18,538			1,108,202
DICERNA PHARMACEUTICALS INC		14,500			238,815
DIGITALGLOBE INC		32,566			1,008,569
DIRECTV		61,626			5,342,974
DISCOVER FINANCIAL SERVICES		51,565			3,376,992
DISCOVERY COMMUNICATIONS A		18,395			633,708
DISCOVERY COMMUNICATIONS C		91,337			3,079,884
DISCOVERY LTD		26,558			255,737
DISH NETWORK CORP		97,927			7,137,899
DOLLAR GENERAL CORP		175,849			12,432,524
DOMINION RESOURCES INC/VA		(1,946	)		(149,647)
DOVER CORP		6,667			478,157
DOW CHEMICAL		220,865			10,073,653
DR PEPPER SNAPPLE GROUP INC		(1,595	)		(114,330)
DTE ENERGY COMPANY		(4,875	)		(421,054)
DUKE ENERGY CORP		(17,484	)		(1,460,613)
DYNEGY INC		7,168			217,549
E MART CO LTD		2,058			380,088
E*TRADE FINANCIAL CORP		316,346			7,672,972
EASTMAN CHEMICAL CO		74,868			5,679,486
EBAY INC		405,618			22,763,282
ECHO GLOBAL LOGISTICS INC		4,270			124,684
ECLIPSE RESOURCES CORP		62,810			441,554
ECOLAB INC		12,800			1,337,856
EDISON INTERNATIONAL		(11,414	)		(747,389)
E-HOUSE CHINA HOLDINGS-ADS		13,985			101,251
EL PASO ELECTRIC CO		15,820			633,749
ELECTRONIC ARTS INC		73,842			3,471,682
ELI LILLY & CO		(21,700	)		(1,497,083)
ELIOR PARTICIPATIONS SCA		209,500			3,118,375
ELLINGTON FINANCIAL LLC		9,200			183,632
ELSWEDY ELECTRIC CO		59,908			347,715
EMBOTELLADORA ANDINA ADR B		11,229			190,893
EME REORGANIZATION TRUST-TRU		1,221,192			31,751
ENDO INTERNATIONAL PLC		76,776			5,537,085
ENDOLOGIX INC		38,595			590,118
ENERGY TRANSFER EQUITY LP		174,046			9,986,759
ENSCO PLC-CL A		(7,204	)		(215,760)
ENTERGY CORP		(13,120	)		(1,147,738)
ENVESTNET INC		17,995			884,274
ENVISION HEALTHCARE HOLDINGS		77,838			2,700,200
EOG RESOURCES INC		73,290			6,747,810
EP ENERGY CORP-CL A		14,945			156,026
EPAM SYSTEMS INC		14,830			708,133
EPIZYME INC		8,700			164,169
EQT CORP		10,600			802,420
EQUINIX INC		24,632			5,584,813

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
ESTEE LAUDER COMPANIES CL A		6,200			472,440
ESTERLINE TECHNOLOGIES CORP		7,150			784,212
ESTIA HEALTH LTD		20,776			80,476
EURASIA DRILLIN GDR REGS		20,961			373,106
EVERTEC INC		26,645			589,654
EXAR CORP		10,827			110,435
EXELON CORP		(233	)		(8,640)
EXLSERVICE HOLDINGS INC		36,179			1,038,699
EXPEDIA INC		40,325			3,442,142
EXPEDITORS INTL OF WASHINGTON		(13,712	)		(611,692)
EXPRESS SCRIPTS HOLDING CO		10,840			917,823
EXXON MOBIL CORP		(58,644	)		(5,421,638)
FACEBOOK INC-A		38,642			3,014,849
FAMILY DOLLAR STORES		14,432			1,143,159
FANNIE MAE		22,989			47,242
FANUC CORP		21,900			3,643,232
FAST RETAILING CO LTD		3,200			1,175,576
FASTENAL CO		(17,758	)		(844,570)
FBN HOLDINGS PLC		1,106,003			53,185
FCB FINANCIAL HOLDINGS INC		100,000			2,464,000
FCMB GROUP PLC		5,815,732			79,132
FEDEX CORP		5,800			1,007,228
FERRO CORP		67,465			874,346
FIAT CHRYSLER AUTOMOBILES NV		(300,539	)		(3,480,242)
FIDELITY + GUARANTY LIFE		24,234			588,159
FIFTH STREET ASSET MANAGEMENT		11,500			160,425
FINANCIAL INSTITUTIONS INC		42,845			1,077,552
FIRST CASH FINL SVCS INC		6,900			384,123
FIRST DATA CORP CLASS B		2,830,000			11,320,000
FIRST MERCHANTS CORP		38,926			885,567
FIRST QUANTUM MINERALS LTD		161,835			2,306,839
FISERV INC		10,400			738,088
FIVE BELOW		18,805			767,808
FIVE PRIME THERAPEUTICS INC		12,020			324,540
FLEETCOR TECHNOLOGIES INC		73,575			10,941,338
FLEETMATICS GROUP PLC		23,609			837,883
FLEXTRONICS INTL LTD		14,594			163,161
FLIR SYSTEMS INC		36,636			1,183,709
FLOWSERVE CORP		2,700			161,541
FNF GROUP		97,297			3,351,882
FORD MOTOR CO		(68,175	)		(1,056,713)
FORRESTER RESEARCH INC		26,350			1,037,136
FORTUNE BRANDS HOME + SECURI		62,654			2,836,347
FOSSIL GROUP INC		8,450			935,753
FOUNDATION MEDICINE INC		32,710			726,816
FRANKLIN RESOURCES INC		12,525			693,509
FREDDIE MAC		24,454			50,375
FREESCALE SEMICONDUCTOR LTD		34,161			861,882
FRESENIUS MEDICAL CARE AG +		23,920			1,790,211
FRESHPET INC		21,510			366,961
FRONTIER COMMUNICATIONS CORP		(311,654	)		(2,078,732)
FS INVESTMENT CORP		(14,585	)		(144,829)
FUCHS PETROLUB SE		9,000			345,663
FUJI HEAVY INDUSTRIES LTD		7,100			254,671
G III APPAREL GROUP LTD		6,685			675,252
GALAXY ENTERTAINMENT GROUP LTD		15,000			84,424
GALLERY MEDIA GROUP LTD		139			52,524
GAMESTOP CORP-CLASS A		(31,412	)		(1,061,726)
GAMING AND LEISURE PROPERTIES		214,697			6,299,210
GANNETT CO		20,950			668,934
GARMIN LTD		10,496			554,504
GARTNER INC		23,341			1,965,546
GENERAC HOLDINGS INC		44,290			2,071,000
GENERAL ELECTRIC		(2,430	)		(61,406)
GENERAL MOTORS CO		(21,844	)		(762,574)
GENOCEA BIOSCIENCES INC		6,625			46,375
GENOMMA LAB INTERNACIONAL B		317,804			606,080
GENUINE PARTS CO		(11,482	)		(1,223,637)
GERDAU S.A.		5,632			17,035
GERDAU SA SPON ADR		33,771			119,887
GILEAD SCIENCES INC		63,813			6,015,013
GLAXOSMITHKLINE PLC-ADR		(17,514	)		(748,548)
GLOBAL BRASS + COPPER HOLDIN		21,355			281,032
GLOBAL PORTS INV GDR REG S		22,987			56,433
GLOBANT SA		9,850			153,857
GLOBE SPECIALTY METALS INC		10,210			175,918
GLOBUS MEDICAL INC A		41,726			991,827
GLYCOMIMETICS INC		25,655			184,716
GMX RESOURCES INC		8,746			—
GOLAR LNG LTD		374			13,640
GOLDMAN SACHS GROUP INC*		609,988			118,233,974
GOODYEAR TIRE + RUBBER CO		24,535			700,965
GOOGLE INC CL A		10,432			5,535,845
GOOGLE INC CL C		16,941			8,917,742
GOPRO INC-CLASS A		(973	)		(61,513)
GRAPHIC PACKAGING HOLDING CO		238,815			3,252,660
GREAT WESTERN BANCORP INC		28,890			658,403
GROUPON INC		538,748			4,450,058

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
GRUBHUB INC		3,290			119,493
GRUPO BTG PACTUAL UNIT		62,470			661,549
GRUPO FINANCIERO BANORTE O		195,457			1,080,999
GRUPO FINANCIERO INBURSA O		198,754			516,041
GUARANTY TRUST BANK		2,050,370			282,122
GUARANTY TRUST BANK GDR REGS		121,238			786,835
GUIDEWIRE SOFTWARE INC		18,830			953,363
GULF COAST ULTRA DEEP ROYALTY		853,326			1,083,724
HAITONG SECURITIES CO LTD-H		46,400			116,785
HALLIBURTON CO		57,200			2,249,676
HANESBRANDS INC		7,000			781,340
HANG SENG BANK LTD		800			13,327
HANOVER INSURANCE GROUP INC/		21,760			1,551,923
HARBINGER GROUP INC		517,600			7,329,216
HARLEY DAVIDSON INC		500			32,955
HASBRO INC		(3,307	)		(181,852)
HAVERTY FURNITURE		35,445			780,144
HAWAIIAN ELECTRIC INDS		(2,497	)		(83,600)
HAYNES INTERNATIONAL INC		6,600			320,100
HCA HOLDINGS INC		34,274			2,515,369
HCP INC		(4,353	)		(191,663)
HD SUPPLY HOLDINGS INC		7,381			217,666
HEADWATERS INC		121,145			1,815,964
HEALTH CARE SELECT SECTOR SPDR FUND		(48,405	)		(3,309,934)
HEALTHSCOPE LTD		53,520			118,963
HEARTLAND PAYMENT SYSTEMS IN		44,860			2,420,197
HEARTWARE INTERNATIONAL INC		12,455			914,571
HEICO CORP CLASS A		21,198			1,003,937
HELLAS REORG EQUITY		182			209
HERITAGE CRYSTAL CLEAN INC		2,200			27,126
HERMES INTERNATIONAL		375			133,771
HERO MOTOCORP LTD		14,712			722,519
HERTZ GLOBAL HOLDINGS INC		(43,784	)		(1,091,973)
HERZFELD CARIBBEAN BASIN FD		(1,966	)		(17,478)
HIBU EQUITY		1,514			—
HILTON WORLDWIDE HOLDINGS IN		18,913			493,440
HINO MOTORS LTD		13,500			180,518
HOME DEPOT INC		12,700			1,333,119
HON HAI PRECISION INDUSTRY		62,000			172,211
HONEYWELL INTERNATIONAL INC		3,400			339,728
HONG KONG EXCHANGES + CLEAR		83,000			1,837,702
HORSEHEAD HOLDING CORP		7,520			119,042
HOST HOTELS & RESORTS INC		(17,135	)		(407,299)
HOTEL SHILLA CO LTD		1,140			95,281
HOVNANIAN ENTERPRISES-A		(52,785	)		(218,002)
HSN INC		23,770			1,806,520
HUADIAN FUXIN ENERGY CORP -H		352,000			165,663
HUBSPOT INC		9,040			303,834
HUNT (JB) TRANSPRT SVCS INC		3,900			328,575
HURON CONSULTING GROUP INC		30,657			2,096,632
HYPERMARCAS SA		51,400			321,951
ICICI BANK LTD SPON ADR		350,500			4,048,275
IDACORP INC		8,900			589,091
IGNITE RESTAURANT GROUP INC		11,900			93,653
IHS INC CLASS A		41,938			4,775,899
IHS INC-CLASS A		(1,950	)		(222,066)
ILLINOIS TOOL WORKS		9,435			893,495
ILLUMINA INC		21,060			3,887,255
IMAX CORP		40,415			1,248,824
IMPERIAL OIL LTD		54,055			2,325,914
INC RESEARCH HOLDINGS INC		4,700			120,743
INCYTE CORP		20,664			1,510,745
INDOCEMENT TUNGGAL PRAKARSA		464,098			936,815
INDUSTRIAL SELECT SECT SPDR		(12,768	)		(722,413)
INFOSYS LTD		16,200			505,588
INFOSYS LTD SP ADR		18,186			572,132
INFOSYS TECHNOLOGIES-SP ADR		(4,000	)		(125,840)
INGERSOLL-RAND PLC		130,405			8,266,373
INSTEEL INDUSTRIES INC		26,318			620,578
INTEL CORP		(78,376	)		(2,844,265)
INTERCONTINENTAL EXCHANGE IN		25,336			5,555,931
INTERFACE INC		17,585			289,625
INTERNATIONAL BANCSHARES CRP		21,750			577,245
INTERSECT ENT INC		6,900			127,995
INTL BUSINESS MACHINES CORP		2,521			404,469
INTL CONTAINER TERM SVCS INC		371,811			955,866
INTL FLAVORS & FRAGRANCES		(3,931	)		(398,446)
INTL RECTIFIER CORP		28,340			1,130,766
INTUIT INC		46,412			4,278,722
INTUITIVE SURGICAL INC		1,600			846,304
INVESCO LTD		21,900			865,488
IPAYMENT HLDGS PHYSICAL CERTS		25,954			75,937
IPG PHOTONICS CORP		(13,672	)		(1,024,306)
IROBOT CORP		23,415			812,969
IRONWOOD PHARMACEUTICALS INC		33,310			510,309
ISHARES CHINA LARGE-CAP ETF		(19,417	)		(808,136)
ISHARES DJ US REAL ESTATE		(49,982	)		(3,840,617)
ISHARES JP MORGAN USD EMERGING MARKETS BOND ETF		(9,682	)		(1,062,212)

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
ISHARES RUSSELL 2000 ETF		23,835			2,852,599
ISIS PHARMACEUTICALS INC		19,349			1,194,607
ISUZU MOTORS LTD		14,600			180,430
ITAU UNIBANCO H SPON PRF ADR		202,211			2,630,765
IVG CONCRETE 1 PREFERRED EQUITY TPEC SERIES 1		3,142			539,905
IVG CONCRETE 2 PREFERRED EQUITY TPEC SERIES 1		202			33,977
JAKKS PACIFIC INC		(3,065	)		(20,842)
JAMES RIVER GROUP HOLDINGS L		19,800			450,648
JAPAN AIRLINES CO LTD		39,800			1,195,196
JASON INDUSTRIES INC		3,489			34,367
JD.COM INC ADR		23,673			547,793
JFE HOLDINGS INC		9,900			222,643
JGC CORP		82,000			1,704,358
JOHN B. SANFILIPPO + SON INC		12,450			566,475
JPMORGAN CHASE & CO		51,007			3,192,018
JUNIPER NETWORKS INC		23,120			516,038
JUNO THERAPEUTICS INC		2,300			120,106
JUST ENERGY GROUP INC		(12,283	)		(64,230)
JX HOLDINGS INC		41,100			161,068
K+S AG-REG		(27,531	)		(763,230)
KAISER ALUMINUM CORP		4,140			295,720
KANSAS CITY SOUTHERN		7,900			964,037
KAR AUCTION SERVICES INC		213,169			7,386,306
KARYOPHARM THERAPEUTICS INC		3,855			144,293
KASIKORNBANK PCL FOREIGN		22,800			158,699
KATE SPADE & CO		36,554			1,170,094
KENNEDY WILSON HOLDINGS INC		57,704			1,459,911
KERING		22,260			4,296,601
KEURIG GREEN MOUNTAIN INC		14,823			1,962,491
KEYENCE CORP		5,100			2,288,928
KIMBERLY CLARK CORP		(8,937	)		(1,032,581)
KIMCO REALTY CORP		(16,010	)		(402,491)
KINDER MORGAN INC		109,274			4,623,383
KITE PHARMA INC		2,000			115,340
KIWOOM SECURITIES CO LTD		5,354			224,555
KKR & CO LP		209,042			4,851,865
KLX INC		44,974			1,855,178
KNIGHT TRANSPORTATION INC		9,900			333,234
KNOWLES CORP		(18,857	)		(444,082)
KOHLS CORP		(6,543	)		(399,385)
KONICA MINOLTA INC		10,100			111,633
KOREA ELECTRIC POWER CORP		10,107			394,644
KOSMOS ENERGY LTD		37,857			317,620
KOTAK MAHINDRA BANK LTD		80,134			1,602,363
KRAFT FOODS GROUP INC		(7,479	)		(468,634)
L BRANDS INC		64,057			5,544,133
L OREAL		17,900			3,017,224
LABORATORY CRP OF AMER HLDGS		23,471			2,532,521
LAFARGE MALAYSIA BHD		54,597			152,400
LAKELAND BANCORP INC		139,786			1,635,496
LAMBOO RESOURCES LTD		183,140			26,191
LANDS END INC		16,915			912,733
LANDSTAR SYSTEM INC		(10,192	)		(739,226)
LAREDO PETROLEUM INC		31,395			324,938
LAS VEGAS SANDS CORP		(9,045	)		(526,057)
LATTICE SEMICONDUCTOR CORP		220,685			1,520,520
LENDINGCLUB CORP		2,300			58,190
LENNAR CORP - B SHS		8,854			319,718
LENNAR CORP-CL A		(55,446	)		(2,484,535)
LEVEL 3 COMMUNICATIONS INC		18,927			934,615
LI NING CO LTD		575,942			276,279
LIBERTY BROADBAND-A		(3,459	)		(173,261)
LIBERTY BROADBAND-C		(3,400	)		(169,388)
LIBERTY GLOBAL PLC-A		9,290			466,404
LIBERTY GLOBAL PLC-SERIES C		58,572			2,829,613
LIBERTY MEDIA CORP - A		939			33,119
LIFEWAY FOODS INC		21,070			390,427
LIMONEIRA CO		8,735			218,200
LINDE AG		7,160			1,335,983
LINDSAY CORP		(7,023	)		(602,152)
LINEAR TECHNOLOGY CORP		9,435			430,236
LINK NET TBK PT		717,100			283,944
LINKEDIN CORP A		10,980			2,522,216
LINX SA		12,300			233,673
LIONS GATE ENTERTAINMENT COR		19,849			635,565
LIXIL GROUP CORP		(2,700	)		(57,523)
LKQ CORP		111,085			3,123,710
LOJAS RENNER S.A.		9,334			268,517
LONGFOR PROPERTIES		378,967			491,616
LONGTOP FINANCIAL-SPON ADR		38,622			—
LORAL SPACE & COMMUNICATIONS I		40,000			3,148,400
LORILLARD INC		67,351			4,239,072
LOUIS XIII HOLDINGS LTD		5,662,500			2,300,679
LOUISIANA PACIFIC CORP		24,500			405,720
LOWE S COS INC		28,200			1,940,160
LPL FINANCIAL HOLDINGS INC		(4,865	)		(216,736)
LSR GROUP		2,302			17,572
LSR GROUP OJSC GDR REGS		63,886			99,662

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
LUPIN LTD		69,417			1,571,443
LUXFER HOLDINGS PLC ADR		33,920			506,426
LVMH MOET HENNESSY LOUIS VUI		7,700			1,232,224
LYONDELLBASELL INDUSTRIES NV		47,646			3,782,616
M/I HOMES INC		38,115			875,120
M3 INC		76,100			1,284,043
MACQUARIE INFRASTRUCTURE CO		104			7,393
MACYS INC		(10,169	)		(668,612)
MAGNA INTERNATIONAL INC		(1,281	)		(139,232)
MAGNESITA REFRATARIOS SA		36,897			28,733
MARITIME FINANCE CO.		188,000			3,669,760
MARKET VECTORS SEMICONDUCTOR		(15,225	)		(831,590)
MARKETO INC		53,985			1,766,389
MARKWEST ENERGY PARTNERS LP		10,870			730,355
MARRIOTT INTERNATIONAL CL A		2,327			181,576
MARRIOTT VACATIONS WORLD		9,290			692,477
MARSH + MCLENNAN COS		25,675			1,469,637
MASONITE INTERNATIONAL CORP		19,991			1,228,647
MASTERCARD INC CLASS A		113,475			9,777,006
MATAHARI DEPARTMENT STORE TBK		139,400			168,284
MATERIALS SELECT SECTOR SPDR		(19,160	)		(930,793)
MATTEL INC		(2,432	)		(75,258)
MAVENIR SYSTEMS INC		107,500			1,457,700
MAZDA MOTOR CORP		48,800			1,191,709
MCDONALDS CORP		4,497			421,369
MCGRAW HILL FINANCIAL INC		15,026			1,337,013
MCKESSON CORP		89,069			18,488,943
MECHEL-ADR		5,183			3,545
MEDIATEK INC		95,644			1,398,251
MEDICINES COMPANY		2,415			66,823
MEDTRONIC INC		48,482			3,500,400
MEGACABLE HOLDINGS CPO		128,574			503,227
MEIJI HOLDINGS CO LTD		4,300			394,920
MELCO CROWN ENTERTAINMENT LTD		137,190			3,484,626
MELCOLOT LTD		1,320,000			117,439
MENS WEARHOUSE INC THE		28,626			1,263,838
MERCANTILE BANK CORP		47,005			988,045
MERCK & CO. INC.		(11,284	)		(640,818)
MERITAGE HOMES CORP		(2,394	)		(86,160)
MERITOR INC		(1,410	)		(21,362)
METLIFE INC		11,490			621,494
METTLER-TOLEDO INTERNATIONAL		(1,479	)		(447,338)
MGIC INVESTMENT CORP		279,067			2,600,904
MGM RESORTS INTERNATIONAL		49,674			1,062,030
MICHAEL KORS HOLDINGS LTD		11,115			834,737
MICRON TECHNOLOGY INC		160,202			5,608,672
MICROSEMI CORP		29,035			824,013
MICROSOFT CORP		167,827			7,795,564
MILLENNIAL MEDIA INC		13,117			20,987
MINDRAY MEDICAL INTL LTD ADR		14,427			380,873
MIRABELA NICKEL LTD		237,842			5,637
MISUMI GROUP INC		47,400			1,577,430
MITSUBISHI ESTATE CO LTD		61,800			1,317,235
MITSUBISHI HEAVY INDUSTRIES		17,000			94,983
MITSUBISHI UFJ FINANCIAL GRP		29,900			165,737
MITSUI OSK LINES LTD		(1,500	)		(4,492)
MKS INSTRUMENTS INC		35,575			1,302,045
MOBILEYE NV		(14,688	)		(595,745)
MOELIS + CO CLASS A		6,550			228,792
MOHAWK INDUSTRIES INC		35,892			5,576,181
MOLYCORP INC		4,388			3,864
MONARCH CASINO + RESORT INC		17,661			292,996
MONDELEZ INTERNATIONAL INC		188,522			6,848,062
MONGOLIAN MINING CORP		1,892,032			82,953
MONITISE PLC		10,066,961			3,962,326
MONOLITHIC POWER SYSTEMS INC		4,685			233,032
MONOTARO CO LTD		25,500			521,294
MONSTER BEVERAGE CORP		7,709			835,270
MOOG INC CLASS A		10,655			788,790
MORGAN STANLEY		75,960			2,947,248
MOSCOW EXCHANGE MICEX RTS		122,240			121,221
MOTOROLA SOLUTIONS INC		113,700			7,626,996
MPLX LP		552			40,566
MS&AD INSURANCE GROUP HOLDING		8,800			211,448
MSC INDUSTRIAL DIRECT CO-A		(2,034	)		(165,263)
MTN GROUP LTD		97,220			1,860,699
MYLAN LABS INC		(169,373	)		(9,547,556)
MYRIAD GENETICS INC		(34,447	)		(1,173,265)
NATIONAL BANK OF CANADA		(6,580	)		(279,937)
NATIONAL CINEMEDIA INC		40,864			587,216
NATIONAL ENERGY		27,154			—
NATIONAL INSTRUMENTS CORP		19,093			593,601
NAVER CORP		169			110,033
NAVIENT CORP		426,100			9,208,021
NCI BUILDING SYSTEMS INC		10,005			185,293
NEFF CORP		9,100			102,557
NELNET INC CL A		22,450			1,040,109
NESTE OIL OYJ		(25,537	)		(619,747)

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
NESTLE SA SPONS ADR		66,100			4,821,995
NETFLIX INC		2,114			722,164
NEUSTAR INC-CLASS A		(18,060	)		(502,068)
NEW MEDIA INVESTMENT GROUP INC		36,878			871,427
NEW RESIDENTIAL INVESTMENT COR		197,957			2,527,911
NEW SENIOR INVESTMENT GROUP IN		113,622			1,869,082
NEW WORLD DEPT STORE CHINA		349,840			111,879
NEW YORK COMMUNITY BANCORP		(8,225	)		(131,600)
NEXTERA ENERGY INC		69,746			7,413,302
NEXTERA ENERGY PARTNERS LP		12,154			410,198
NIDEC CORP		(14,700	)		(962,711)
NIELSEN NV		4,880			218,282
NIGERIAN BREWERIES PLC		882,079			796,763
NIKE INC CL B		42,206			4,058,107
NIMBLE STORAGE INC		26,345			724,488
NINTENDO CO LTD		(940	)		(98,838)
NIPPON PAINT HOLDINGS CO LTD		12,000			352,353
NIPPON TELEGRAPH & TELEPHONE		5,400			279,775
NISSAN MOTOR CO LTD		30,800			271,568
NOBLE ENERGY INC		27,016			1,281,369
NOMURA HOLDINGS INC		(22,600	)		(130,118)
NORDIC AMERICAN OFFSHORE LTD		155,000			1,903,400
NORTHEAST UTILITIES		(5,838	)		(312,450)
NORTHERN TRUST CORP		1,800			121,320
NORWEGIAN CRUISE LINE HOLDIN		3,200			149,632
NOVARTIS AG-REG		16,020			1,487,928
NOVARTIS AG-SPONSORED ADR		(74	)		(6,857)
NOVATEK OAO SPONS GDR REG S		20,237			1,586,581
NOVAVAX INC		100,267			594,583
NOVION PROPERTY GROUP		(12,000	)		(20,790)
NOVO NORDISK A/S B		54,100			2,288,398
NOVO NORDISK A/S SPONS ADR		80,195			3,393,852
NOVOLIPET STEEL GDR REG S		40,094			460,279
NPS PHARMACEUTICALS INC		29,260			1,046,630
NRG ENERGY INC		6			162
NRG YIELD INC CLASS A		12,175			573,930
NSK LTD		14,000			168,402
NVDR THB10.0		206,066			1,443,633
O KEY GROUP SA GDR REGS		6,004			26,358
O REILLY AUTOMOTIVE INC		7,300			1,406,126
OCCIDENTAL PETROLEUM CORP		10,440			841,568
OCI NV		29,446			1,029,384
OCULAR THERAPEUTIX INC		7,600			178,752
ODONTOPREV S.A.		21,600			80,120
OMNICARE INC		(558	)		(40,695)
OMNICOM GROUP		(12,649	)		(979,918)
OMNOVA SOLUTIONS INC		91,960			748,554
ON DECK CAPITAL INC		5,800			130,094
ONEBEACON INSURANCE GROUP A		42,990			696,438
OPKO HEALTH INC		(97,550	)		(974,525)
ORBITAL SCIENCES CORP		23,995			645,226
OREILLY AUTOMOTIVE INC		(1,250	)		(240,775)
ORION ENGINEERED CARBONS SA		28,900			491,011
ORIX CORP		2,800			35,584
OTONOMY INC		5,915			197,147
OTP BANK PLC		28,199			411,844
OUTERWALL INC		(1,459	)		(109,746)
OZNER WATER INTERNATIONAL HOLDING LTD		1,605,000			616,711
PACIFIC BIOSCIENCES OF CALIF		62,320			488,589
PACWEST BANCORP		71,846			3,266,119
PALL CORP		20,838			2,109,014
PANDORA MEDIA INC		51,565			919,404
PANERA BREAD COMPANY CLASS A		5,548			969,790
PAREXEL INTERNATIONAL CORP		(5,852	)		(325,137)
PARKER HANNIFIN CORP		7,380			951,651
PARKSON RETAIL GROUP LTD		95,848			24,102
PARSLEY ENERGY INC		7,600			121,296
PATRIOT COAL CORP - A		1,008			5,040
PATTERN ENERGY GROUP INC		13,460			331,924
PAYCHEX INC		(45,198	)		(2,086,792)
PDC ENERGY INC		37,623			1,552,701
PDF SOLUTIONS INC		30,645			455,385
PEAPACK GLADSTONE FINL CORP		5,000			92,800
PEGATRON CORP		14,964			34,518
PENN REAL ESTATE INVEST TST		(8,427	)		(197,697)
PENNYMAC FINANCIAL SERVICES IN		144,800			2,505,040
PENNYMAC MORTGAGE INVESTMENT T		128,700			2,714,283
PEPSICO INC		200			18,912
PERRIGO CO PLC		31,033			5,187,476
PETROCHINA CO LTD-H		4,000			4,436
PFIZER INC		48,405			1,507,816
PHARMACYCLICS INC		5,400			660,204
PHILIP MORRIS INTERNATIONAL		6,788			552,883
PHILLIPS 66-W/I		(8,348	)		(598,552)
PHS TOPCO EQUITY		9,398			—
PICC PROPERTY & CASUALTY-H		101,560			197,476
PICK N PAY HOLDINGS LTD		18,627			37,838
PICK N PAY STORES LTD		66,288			301,508

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
PILGRIM’S PRIDE CORP		(23,380	)		(766,630)
PING AN INSURANCE GROUP CO-H		393,500			4,013,390
PINNACLE WEST CAPITAL		(1,946	)		(132,931)
PIONEER NATURAL RESOURCES CO		7,250			1,079,163
PITNEY BOWES INC		(18,870	)		(459,862)
PLAINS GP HOLDINGS LP-CL A		160,541			4,122,693
PLY GEM HOLDINGS INC		17,585			245,838
PNC FINANCIAL SERVICES GROUP		12,185			1,111,638
POLARIS INDUSTRIES INC		300			45,372
POPEYES LOUISIANA KITCHEN IN		13,200			742,764
PORTLAND GENERAL ELECTRIC CO		21,675			819,965
PORTOLA PHARMACEUTICALS INC		23,255			658,582
POST HOLDINGS INC		36,450			1,526,891
POWER INTEGRATIONS INC		19,820			1,025,487
POWERSHARES QQQ TRUST SERIES		(5,300	)		(547,225)
PPG INDUSTRIES INC		26,797			6,194,127
PRA HEALTH SCIENCES INC		7,500			181,650
PRAXAIR INC		7,090			918,580
PRECISION CASTPARTS CORP		8,600			2,071,568
PRESTIGE BRANDS HOLDINGS INC		32,955			1,144,198
PRICELINE GROUP INC/THE		8,966			10,223,123
PRIMERICA INC		26,166			1,419,767
PROCTER & GAMBLE		(3,863	)		(351,881)
PROGRESSIVE CORP		37,455			1,010,910
PRUDENTIAL FINANCIAL INC		14,025			1,268,702
PTC INC		24,010			879,967
PTC THERAPEUTICS INC		12,716			658,307
PUBLIC SERVICES ENTERPRISE GP		(19,833	)		(821,285)
PUMA BIOTECHNOLOGY INC		871			164,854
PVH CORP		60,381			7,739,033
PW MEDTECH GROUP LTD		179,000			80,089
QEP RESOURCES INC		331,000			6,692,820
QIHOO 360 TECHNOLOGY CO ADR		29,679			1,699,420
QINHUANGDAO PORT CO LTD H		249,000			115,592
QIWI PLC SPONSORED ADR		4,663			94,146
QLIK TECHNOLOGIES INC		18,562			573,380
QUALCOMM INC		92,452			6,871,957
QUANTUM CORP		19,460			34,250
QUEST DIAGNOSTICS INC		(12,162	)		(815,584)
QUIDEL CORP		49,495			1,431,395
QUNAR CAYMAN ISLANDS LTD-ADR		30,842			876,838
RADIAN GROUP INC		97,516			1,630,468
RADWARE LTD		103,515			2,279,400
RAKUTEN INC		(15,100	)		(211,927)
RALPH LAUREN CORP		100			18,516
RAMAYANA LESTARI SENTOSA PT		1,614,097			102,958
RANGE RESOURCES CORP		8,364			447,056
RASPADSKAYA		121,912			46,733
RCS CAPITAL CORP-CLASS A		(39,508	)		(483,578)
REALOGY HOLDINGS CORP		70,030			3,115,635
RED HAT INC		12,398			857,198
RED ROBIN GOURMET BURGERS		7,495			576,928
REGENCY ENERGY PARTNERS LP		(9,405	)		(225,720)
REGENERON PHARMACEUTICALS		13,852			5,682,783
REGULUS THERAPEUTICS INC		24,315			390,013
RELYPSA INC		15,665			482,482
RENTRAK CORP		900			65,538
REPUBLIC SERVICES INC		(33,046	)		(1,330,102)
RESONA HOLDINGS INC		34,000			173,545
RESTAURANT BRANDS INTERNATIONAL INC		(89,228	)		(3,483,461)
RESTAURANT BRANDS-EXCH UNITS		(3	)		(113)
REXNORD CORP		10,520			296,769
REYNOLDS AMERICAN INC		(9,524	)		(612,107)
RF MICRO DEVICES INC		(11,890	)		(197,255)
RICHTEK TECHNOLOGY CORP		30,690			163,152
ROBINSON DEPT STORE PCL FOR		209,900			287,097
ROCHE HOLDING AG GENUSSCHEIN		13,500			3,666,935
ROCKWELL COLLINS INC		(9,687	)		(818,358)
ROCKWOOD HOLDINGS INC		54,821			4,319,895
ROGERS CORP		28,550			2,325,112
ROPER INDUSTRIES INC		5,200			813,020
ROSETTA RESOURCES INC		2,572			57,381
ROSS STORES INC		7,800			735,228
ROYAL BAFOKENG PLATINUM LTD		23,027			104,917
ROYAL BANK OF CANADA		(13,130	)		(906,593)
ROYAL CARIBBEAN CRUISES LTD		1,000			82,430
RPM INTERNATIONAL INC		13,992			709,534
RREEF CHINA COMMERCIAL TRUST		798,800			1,483
RSP PERMIAN INC		49,845			1,253,103
RTI INTERNATIONAL METALS INC		13,185			333,053
RYANAIR HOLDINGS PLC-SP ADR		(2,563	)		(182,665)
RYLAND GROUP INC		(17,624	)		(679,581)
SABMILLER PLC		81,254			4,253,369
SABRE CORP		65,367			1,324,989
SALESFORCE.COM INC		24,700			1,464,957
SALIX PHARMACEUTICALS LTD		(12,687	)		(1,458,244)
SALLY BEAUTY HOLDINGS INC		65,933			2,026,780
SAMSUNG ELECTR GDR		2,200			1,331,000

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
SAMSUNG ELECTRO REGS GDR PFD		3,350			1,574,165
SAMSUNG ELECTRONICS CO LTD		2,716			3,279,017
SAMSUNG FIRE + MARINE INS		11,209			2,880,901
SANCHEZ ENERGY CORP		(1,946	)		(18,078)
SANDERSON FARMS INC		(3,583	)		(301,062)
SANDISK CORP		(17,482	)		(1,712,886)
SANDRIDGE ENERGY INC		2,049,361			3,729,837
SANDS CHINA LTD		351,600			1,731,766
SANTANA MINERALS LTD		83,435			2,182
SANTANDER CONSUMER USA HOLDINGS INC		136,518			2,677,118
SAP SE SPONSORED ADR		33,490			2,332,579
SAPIENT CORPORATION		7,078			176,101
SASOL LTD		24,900			927,684
SAUR SPV 1 EQUITY		110			—
SAUR SPV 2 EQUITY		30			—
SAUR SPV 3 EQUITY		32			—
SBERBANK		785,931			720,437
SBI HOLDINGS INC LONG		2,300			25,440
SCANA CORP		(3,892	)		(235,077)
SCHLUMBERGER LTD		13,171			1,124,935
SCHNEIDER ELECTRIC SE		34,700			2,544,938
SEACOAST BANKING CORP/FL		67,000			921,250
SEADRILL LTD		4,798			57,288
SEADRILL PARTNERS LLC		2,616			42,458
SEAGATE TECHNOLOGY		(26,340	)		(1,751,610)
SEARS HOLDINGS CORP		(14,320	)		(472,274)
SEAWORLD ENTERTAINMENT INC		1,250			22,375
SEIKO HOLDINGS CORP		(6,000	)		(33,984)
SEMEN INDONESIA PERSERO TBK		462,476			604,934
SEMGROUP CORP CLASS A		14,935			1,021,405
SEMICONDUCTOR MANUFACTURING		(1,498,000	)		(137,139)
SENSATA TECHNOLOGIES HOLDING		35,959			1,884,611
SERVICE CORP INTERNATIONAL		(54,552	)		(1,238,330)
SERVICENOW INC		13,751			933,005
SFX ENTERTAINMENT INC		42,109			190,754
SHANDONG WEIGAO GP MEDICAL-H		64,000			51,659
SHERWIN WILLIAMS CO/THE		9,300			2,446,272
SHIMIZU CORP		24,000			164,765
SHINHAN FINANCIAL GROUP LTD		48,308			1,953,592
SHIP FINANCE INTL LTD		6,180			87,262
SHIRE PLC		37,270			5,226,041
SHIRE PLC ADR		100			21,254
SHIZUOKA BANK LTD		18,000			166,216
SHOE CARNIVAL INC		19,340			496,845
SIAM COMMERCIAL BANK FOREIGN		121,217			670,562
SIENTRA INC		1,195			20,064
SIGNET JEWELERS LTD		14,766			1,942,763
SINA CORP		(651	)		(24,354)
SINOPHARM GROUP CO-H		244,800			866,451
SIRIUS XM HOLDINGS INC		2,650,674			9,277,359
SM INVESTMENTS CORP		1,470			26,772
SOFTBANK CORP		39,000			2,345,597
SOFTBANK CORP UNSPON ADR		9,500			282,150
SOLAR CAPITAL LTD		37,455			674,565
SOLARCITY CORP		318			17,007
SOLARWINDS INC		37,671			1,877,146
SONOVA HOLDING AG REG		10,700			1,581,875
SONUS NETWORKS INC		653,415			2,594,058
SONY CORP		149,700			3,087,533
SONY CORP-SPONSORED ADR		28,646			586,384
SONY FINANCIAL HOLDINGS INC		13,800			205,135
SOUFUN HOLDINGS LTD-ADR		171,873			1,270,141
SOUTH JERSEY INDUSTRIES		11,900			701,267
SOUTH STATE CORP		23,585			1,582,082
SOUTHERN CO		(86,711	)		(4,258,377)
SOUTHWEST GAS CORP		20,925			1,293,374
SOUTHWESTERN ENERGY CO		23,639			645,108
SPANSION INC CLASS A		29,175			998,369
SPDR S&P HOMEBUILDERS ETF		(19,097	)		(651,590)
SPEEDCAST INTERNATIONAL LTD		35,191			52,915
SPROUTS FARMERS MARKET INC		7,733			262,767
STANDARD BANK GROUP LTD		83,543			1,036,132
STANDARD METALS PROCESSING INC		22,819			22,819
STANDARD PACIFIC CORP		115,215			839,917
STARBUCKS CORP		22,700			1,862,535
STARWOOD HOTELS + RESORTS		27,130			2,199,429
STARWOOD WAYPOINT		136			3,586
STATE STREET CORP		11,600			910,600
STERLING CONSTRUCTION CO		56,633			361,885
STEVEN MADDEN LTD		18,307			582,712
STEWART INFORMATION SERVICES		26,845			994,339
STRYKER CORP		10,640			1,003,671
SUMITOMO ELECTRIC INDUSTRIES		9,900			124,948
SUMITOMO MITSUI FINANCIAL GRP INC		4,900			178,825
SUMMIT ASCENT HOLDINGS LTD		450,000			218,748
SUMMIT MIDSTREAM PARTNERS LP		3,373			128,174
SUN PHARMACEUTICAL INDUS		171,671			2,249,149
SUNEDISON INC		411,100			8,020,561

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
SUNOPTA INC		69,629			825,104
SUNPOWER CORP		(3,435	)		(88,726)
SUZUKI MOTOR CORP		36,700			1,114,348
SWATCH GROUP AG/THE BR		2,660			1,189,123
SWIFT TRANSPORTATION CO		14,340			410,554
SYMETRA FINANCIAL CORP		11,951			275,471
SYMRISE AG		25,130			1,524,381
SYNAGEVA BIOPHARMA CORP		3,900			361,881
SYSCO CORP		19,455			772,169
SYSMEX CORP		56,400			2,535,519
T ROWE PRICE GROUP INC		(13,710	)		(1,177,141)
T&D HOLDINGS INC		14,900			181,216
TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD		1,302,596			5,810,968
TAIWAN SEMICONDUCTOR SP ADR		85,800			1,920,204
TAKEDA PHARMACEUTICAL CO LTD		4,700			195,892
TAKE-TWO INTERACTIVE SOFTWARE		(7,112	)		(199,349)
TALISMAN ENERGY INC		(38,486	)		(301,345)
TALLINK GROUP AS		359,457			293,599
TARGET CORP		(14,670	)		(1,113,600)
TATA CONSULTANCY SVCS LTD		30,550			1,240,924
TD AMERITRADE HOLDING CORP		72,784			2,604,212
TEAM HEALTH HOLDINGS INC		53,582			3,082,572
TECHNOLOGY SELECT SECT SPDR		(2,436	)		(100,729)
TECO ENERGY INC		15,142			310,260
TEEKAY TANKERS LTD-CLASS A		11,600			58,696
TELEDYNE TECHNOLOGIES INC		9,130			938,016
TELENET GROUP HOLDING NV		165,200			9,283,136
TENCENT HOLDINGS LTD		97,200			1,409,967
TENNECO INC		8,960			507,226
TERNIUM SA SPONSORED ADR		17,906			315,862
TERRAFORM POWER INC		60,500			1,868,240
TESARO INC		17,656			656,627
TESLA MOTORS INC		(1,895	)		(421,467)
TETRAPHASE PHARMACEUTICALS I		18,575			737,613
TEXAS ROADHOUSE INC		16,200			546,912
TEXTRON INC		13,274			558,968
THAI BEVERAGE PCL		2,675,809			1,393,335
THERMO FISHER SCIENTIFIC INC		52,419			6,567,577
THOMSON REUTERS CORP		(20,050	)		(808,242)
THUNDERBIRD RESOURCES LP		11,123			785,274
THUNDERBRID RESOURCES EQUITY I		4,114			360,377
TIFFANY + CO		1,500			160,290
TIME WARNER CABLE INC		19,578			2,977,031
TIME WARNER INC		126,310			10,789,400
TINGYI (CAYMAN ISLN) HLDG CO		468,000			1,073,011
TJX COMPANIES INC		10,440			715,975
TMB BANK PUBLIC CORP FOREIGN		5,869,101			520,905
TMW IMMOBILIEN WELTFONDS		1,852			31,958
TOREX GOLD RESOURCES INC		155,597			165,236
TOSHIBA CORP		16,000			68,388
TOTVS SA		20,867			274,752
TOWERS WATSON & CO-CL A		(5,613	)		(635,223)
TRACKING STK USD.01		195,157			5,741,519
TRACTEBEL ENERGIA SA		41,754			531,389
TRACTOR SUPPLY COMPANY		26,907			2,120,810
TRANSCANADA CORP		139,135			6,832,896
TRANSDIGM GROUP INC		14,433			2,833,920
TRANSOCEAN LTD		(26,899	)		(493,059)
TRANSOCEAN PARTNERS LLC		60,944			891,001
TREEHOUSE FOODS INC		18,350			1,569,476
TREVENA INC		26,300			157,274
TRIBUNE MEDIA CO		130,100			7,776,077
TRICO BANCSHARES		34,245			845,852
TRIMBLE NAVIGATION LTD		13,636			361,899
TRINA SOLAR LTD - SPON ADR		6,909			63,977
TRINET GROUP INC		14,520			454,186
TRIPADVISOR INC		11,566			863,518
TRIVASCULAR TECHNOLOGIES INC		15,045			189,116
TRULIA INC		(12,698	)		(584,489)
TUESDAY MORNING CORP		73,040			1,584,968
TULLOW OIL PLC		277,604			1,791,583
TUMI HOLDINGS INC		27,860			661,118
TURKIYE GARANTI BANKASI		410,462			1,653,963
TURKIYE GARANTI BANKASI ADR		474,800			1,884,956
TWENTY FIRST CENTURY FOX A		(5,272	)		(202,471)
TWENTY FIRST CENTURY FOX B		124,888			4,607,118
TWITTER INC		29,665			1,064,084
TYSON FOODS INC-CL A		(9,502	)		(380,935)
UGI CORP		(3,130	)		(118,877)
UIL HOLDINGS CORP		11,285			491,349
ULKER BISKUVI SANAYI		47,283			375,190
ULTA SALON COSMETICS & FRAGR		9,366			1,197,349
ULTRAGENYX PHARMACEUTICAL IN		1,000			43,880
ULTRAPAR PARTICIPACOES SA		17,508			338,871
ULTRAPAR PARTICPAC SPON ADR		2,684			51,184
ULTRATECH INC		22,990			426,694
UNDER ARMOUR INC CLASS A		14,565			988,964
UNICHARM CORP		141,600			3,439,169

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
UNILEVER PLC		32,900			1,348,146
UNION PACIFIC CORP		9,300			1,107,909
UNITED BANK FOR AFRICA PLC		7,782,717			183,723
UNITED COMMUNITY BANKS/GA		62,450			1,182,803
UNITED CONTINENTAL HOLDINGS		210,397			14,073,455
UNITED MICROELECTRON-SP ADR		178,863			406,019
UNITED STATES STEEL CORP		(20,043	)		(535,950)
UNITED TECH CORP		13,890			1,597,350
UNITED TECHNOLOGIES CORP		(94	)		(10,810)
UNITEDHEALTH GROUP INC		4,300			434,687
UNIVERSAL HEALTH SERVICES-B		8,402			934,807
UNIVERSAL STAINLESS + ALLOY		10,500			264,075
UTILITIES SELECT SECTOR SPDR		(9,094	)		(429,419)
VALE SA-SP ADR		(42,288	)		(345,916)
VALEANT PHARMACEUTICALS INTE		29,628			4,240,063
VALERO ENERGY CORP		(28,070	)		(1,389,465)
VALSPAR CORP		(2,848	)		(246,295)
VANTIV INC CL A		18,365			622,941
VARIAN MEDICAL SYSTEMS INC		(3,892	)		(336,697)
VENTAS INC		(2,432	)		(174,374)
VERINT SYSTEMS INC		13,675			796,979
VERISK ANALYTICS INC CLASS A		7,828			501,383
VERIZON COMMUNICATIONS INC		(11,676	)		(546,203)
VERSARTIS INC		500			11,225
VERTEX PHARMACEUTICALS INC		4,400			522,720
VF CORP		13,042			976,846
VIENNA INSURANCE GROUP AG		10,795			484,357
VINCE HOLDING CORP		24,845			649,448
VIOLIN MEMORY INC		40,900			195,911
VIPSHOP HOLDINGS LTD ADS		36,400			711,256
VIRTUS INVESTMENT PARTNERS		1,705			290,685
VISA INC CLASS A SHARES		41,475			10,874,745
VIVARTE ORD SHS		1,004			—
VIVINT SOLAR INC		22,000			202,840
VMWARE INC CLASS A		900			74,268
VULCAN MATERIALS CO		28,240			1,856,215
WABTEC CORP		9,000			782,010
WAGEWORKS INC		16,830			1,086,713
WALGREENS BOOTS ALLIANCE INC		162,750			12,401,550
WAL-MART STORES INC		(31,550	)		(2,709,514)
WALT DISNEY CO/THE		18,185			1,712,845
WARTSILA OYJ ABP		(9,810	)		(440,189)
WASTE CONNECTIONS INC		66,598			2,929,646
WASTE MANAGEMENT INC		(72,963	)		(3,744,461)
WATERS CORP		(3,892	)		(438,706)
WATSCO INC		7,400			791,800
WATTS WATER TECHNOLOGIES A		18,635			1,182,204
WAYFAIR INC CLASS A		13,000			258,050
WEB.COM GROUP INC		10,765			204,427
WEINGARTEN REALTY INVESTORS		(5,515	)		(192,584)
WELLCARE HEALTH PLANS INC		8,766			719,338
WELLS FARGO + CO		10,125			555,053
WEST CHINA CEMENT LTD		992,938			104,994
WESTERN GAS EQUITY PARTNERS		5,131			309,040
WESTERN UNION CO		(89,627	)		(1,605,220)
WESTPORTS HOLDINGS BHD		313,300			301,069
WEX INC		21,779			2,154,379
WEYERHAEUSER CO		(8,233	)		(295,482)
WHIRLPOOL CORP		4,845			938,670
WHITEWAVE FOODS CO		36,128			1,264,119
WHITING PETROLEUM CORP		7,995			263,835
WILLIAM LYON HOMES-CL A		(5,451	)		(110,492)
WILLIAMS COS INC		237,480			10,672,351
WILLIAMS PARTNERS LP		1,761			78,805
WILLIAMS SONOMA INC		9,183			694,969
WINDSTREAM HOLDINGS INC		(3,242	)		(26,714)
WINTRUST FINANCIAL CORP		10,700			500,332
WISCONSIN ENERGY CORP		(2,919	)		(153,948)
WISDOMTREE INVESTMENTS INC		50,030			784,220
WMI HOLDINGS CORP		4,831			9,904
WORKDAY INC CLASS A		37,498			3,060,212
WORLD FUEL SERVICES CORP		(5,537	)		(259,851)
WPP PLC		187,100			3,923,845
WPX ENERGY INC		134,933			1,569,271
WUMART STORES INC H		230,668			197,507
WUXI PHARMATECH CAYMAN ADR		62,611			2,108,112
WYNN MACAU LTD		47,600			134,106
WYNN RESORTS LTD		12,667			1,884,343
X 5 RETAIL GROUP NV REGS GDR		48,576			592,627
XCEL ENERGY INC		(973	)		(34,950)
XENOPORT INC		81,190			712,036
XINYI GLASS HOLDINGS LTD		739,000			372,604
XOOM CORP		14,380			251,794
XPO LOGISTICS INC		35,465			1,449,809
YAHOO! INC		145,946			7,371,732
YANGZIJIANG SHIPBUILDING		(103,000	)		(93,750)
YAPI VE KREDI BANKASI		248,134			519,036
YASKAWA ELECTRIC CORP		(18,900	)		(244,685)

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
YELP INC		21,998			1,203,951
YPF S.A.-SPONSORED ADR		13,906			368,092
YY INC-ADR		(888	)		(55,358)
ZAYO GROUP HOLDINGS INC		12,380			378,457
ZEBRA TECHNOLOGIES CORP-CL A		38,919			3,012,720
ZHEN DING TECHNOLOGY HOLDING		21,000			56,405
ZHUZHOU CSR TIMES ELECTRIC-H		64,000			373,412
ZILLOW INC-CLASS A		19,925			2,109,858
ZIMMER HOLDINGS INC		29,189			3,310,616
ZULILY INC - CL A		34,200			800,280


Total Common Stock		134,355,981		$	1,500,800,766


Cash and Cash Equivalents
BRAZILIAN REAL		3,403		$	1,280
CANADIAN DOLLAR		61,389			53,001
DANISH KRONE		4,160			676
EGYPTIAN POUND		108			15
EURO CURRENCY		358,931			434,325
HONG KONG DOLLAR		10,770			1,389
INDIAN RUPEE		794,957			12,594
INDONESIAN RUPIAH		2			—
JAPANESE YEN		23,260,348			194,006
MALAYSIAN RINGGIT		479			137
MEXICAN PESO		1,656,426			112,378
NEW ISRAELI SHEQEL		874			225
NEW TAIWAN DOLLAR		41,077,987			1,299,854
NEW ZEALAND DOLLAR		60,275			47,111
POLISH ZLOTY		56,675			15,956
POUND STERLING		165,596			258,206
SOUTH AFRICAN RAND		14,479			1,252
SOUTH KOREAN WON		11,524			10
SWEDISH KRONA		46,034			5,880
SWISS FRANC		2,024			2,037
THAILAND BAHT		2,568,860			78,081
TURKISH LIRA		43,993			18,819


Total Cash and Cash Equivalents		70,199,293		$	2,537,231


Certificates of Deposit
CREDIT SUISSE NY		1,570,000		$	1,570,000


Total Certificates of Deposit		1,570,000		$	1,570,000


Securities Purchased Under Agreements To Resell
BANK AMERICA		5,800,000		$	5,800,000
CITIGROUP REPO		400,000			400,000
PARIBAS		2,800,000			2,800,000


Total Securities Purchased Under Agreements To Resell		9,000,000		$	9,000,000


Fixed Income Securities
ACE 2006-HE4 M2 0.55594 10/25/2036 ESC		1		$	—
ACE 2007-HE3 M1 0.785 01/25/2037 (ESC)		1			—
ADELPH COM 10.25 11/1/06 NA ESC		23,947			180
ADELPHIA COMM 7.5% 01/04 NA ESCROW		8,100			61
ADIDAS AG 0.25 06/14/2019		(1,200,000	)		(1,585,715)
ADLAC 3.25 05/01/21 NA ESCROW		2,031,000			—
AEGIS ASSET BACKED SECURITIES 1% 25 Oct 2035		155,681			153,170
AERO INVENTORY RCF USD		2,296,809			46,514
AFRICAN DEVELOPMENT BANK 5.25% 23 Mar 2022		200,000			183,570
AHM 2007-1 GIOP FLT 05/25/2047		6,633,147			1,130,530
AIFUL CORP 8 04/30/2020		16,307,323			141,472
AIRWAVE SOLUTIONS EXT TL GB		102,453			67,058
ALGOSAIBI TL SYNDICATE 05/08/13		25,324			2,026
ALLY FINANCIAL INC 3.5% 18 Jul 2016		400,000			404,500
ALPHA NATURAL RESOURCES 4.875 12/15/2020		269,000			99,711
ALPHA NATURAL RESOURCES 6.25 06/01/2021		(118,000	)		(36,580)
ALPS ELECTRIC CO LTD 0 03/25/2019		10,000,000			112,508
AMERICAN MUNI PWR OHIO INC OH 7.734% 15 Feb 2033		100,000			137,511
AMERICAN SEAFOODS GROUP LLC TL B-NEW 1L USD		192,460			182,356
AMERIQUEST MORTGAGE SECURITIES 1% 25 Sep 2033		223,719			215,365
AMORTIZING RESIDENTIAL COLLATE 1% 25 Oct 2034		646,743			638,064
ANNINGTON FINANCE NO 5		323,706			639,407
APCOA HLCO TLA EUR		2,290			1,603
APCOA HLCO TLB EUR		5,893			4,125
APCOA SNR TLB EUR		2,753			1,927
APCOA SNR TLB GBP		490			442
APCOA SNR TLB NOK		14,590			1,129
ARM 4.625% 3/1/26		304,000			327,885
ARSI 2006-W1 M3 0.71625 03/25/2036 ESC		1			—
ATRIUM V 5A SUB		260,000			318,500
AUST + NZ BANKING GROUP 1% 06 Oct 2016		1,100,000			1,103,310
AWAL BANK LC CLAIM		332,019			39,842
AWAL BANK SYN CLAIM		152,729			18,327

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
AYT CEDULAS CAJAS IX 3.75% 31 Mar 2015		100,000			121,917
AYT CEDULAS CAJAS V 4.75% 04 Dec 2018		100,000			139,260
BABSON 2014-1A SUB (144A)		1,275,000			1,434,935
BAFC 2007-E 8A5 0.5 09/20/2047 ESC		2			—
BANC OF AMERICA COMMERCIAL MOR 5.309% 10 Oct 2045		29,011			29,021
BANC OF AMERICA MORTGAGE SECUR 1% 25 Jul 2035		34,363			32,471
BANC OF AMERICA MORTGAGE SECUR 1% 25 Sep 2035		257,398			236,544
BANCA CARIGE SPA 3.75% 25 Nov 2016		100,000			127,301
BANCA CARIGE SPA 3.875% 24 Oct 2018		100,000			132,911
BANCO POPOLARE SC 3.5% 14 Mar 2019		500,000			630,781
BANK OF AMERICA CORP 1% 23 May 2017		250,000			300,092
BANK OF AMERICA NA 1% 08 May 2017		1,000,000			998,344
BANKIA SA 3.5% 14 Dec 2015		300,000			373,336
BEAR STEARNS ADJUSTABLE RATE M 1% 25 Aug 2035		61,235			53,560
BEAR STEARNS ADJUSTABLE RATE M 1% 25 Mar 2035		50,949			51,408
BEAR STEARNS ADJUSTABLE RATE M 1% 25 Oct 2035		17,803			17,795
BEAR STEARNS ALT A TRUST 1% 25 Nov 2036		397,674			314,607
BEAR STEARNS ASSET BACKED SECU 1% 25 Oct 2034		600,000			596,828
BEAR STEARNS STRUCTURED PRODUC 1% 26 Jan 2036		123,579			100,990
BNCMT 2007-2 M2 FLT 05/25/2037 ESC		1			—
BONHOM SAS 10 06/30/2018		303			367
BONOS Y OBLIG DEL ESTADO 2.75% 31 Oct 2024		1,500,000			2,001,865
BONOS Y OBLIG DEL ESTADO 3.8% 30 Apr 2024		300,000			434,300
BONOS Y OBLIG DEL ESTADO 5.15% 31 Oct 2028		400,000			648,277
BONOS Y OBLIG DEL ESTADO 5.4% 31 Jan 2023		3,100,000			4,905,649
BPCE SA 1% 18 Nov 2016		700,000			700,489
BRISCON RESERVE FACILITY		51			18
BRISCON SWAPS		168,152			58,573
BRISCON TERM FACILITY		1,171,377			408,028
BRITISH COLUMBIA PROV OF 2.7% 18 Dec 2022		100,000			89,247
BRITISH LAND CO(JERSEY) 1.5 09/10/2017		(300,000	)		(552,258)
BROD 2006-2A A1AD FLT 02/01/2049 144A		11,776,746			1,280,721
BROD 2006-2A A1AT FLT 02/01/2049 144A		9,245,900			1,044,016
BSABS 2006-HE8 21A3 FLT 10/25/2036		195,000			155,896
BUMI INVESTMENT PTE LTD 10.75 10/06/2017 DFT NA		144,000			35,640
BUNDESOBLIGATION I/L 0.75% 15 Apr 2018		425,480			528,784
BUONI POLIENNALI DEL TES 3.75% 01 Sep 2024		1,200,000			1,694,395
BUONI POLIENNALI DEL TES 4.5% 01 Mar 2024		900,000			1,340,157
BUONI POLIENNALI DEL TES 4.5% 01 May 2023		600,000			884,890
BUONI POLIENNALI DEL TES 4.75% 01 Aug 2023		600,000			902,092
BUONI POLIENNALI DEL TES 4.75% 01 Sep 2028		600,000			917,368
BUONI POLIENNALI DEL TES 4.75% 01 Sep 2044		400,000			626,874
BUONI POLIENNALI DEL TES 5.5% 01 Nov 2022		1,000,000			1,556,025
BUONI POLIENNALI DEL TES 5.5% 01 Sep 2022		200,000			310,644
BURLINGTN NORTH SANTA FE 5.75% 15 Mar 2018		254,000			284,698
CADOG 5A M 8/15/25 (144A)		500,000			596,755
CAESARS ENT OP CO INC TL B5 1L USD		504,384			440,075
CAESARS ENT OP CO INC TL B6 1L USD		986,814			860,995
CAESARS ENTERTAINMENT 9% 2/15/		240,000			183,600
CAESARS(CERP)11% 10/01/21 2ND		2,930,000			2,666,300
CAISSE CENTRALE DESJARDN 2.55% 24 Mar 2016		100,000			102,161
CAISSE D AMORT DETTE SOC 1.125% 30 Jan 2017		300,000			301,069
CAISSE FRANCAISE DE FIN 5.25% 16 Feb 2017		400,000			432,590
CALLAHAN NRH WESTF 14.125 07/15/11 (NON-ACC) ESC		9,000			—
CAMAIEU INTERNATIONAL SAS TL A 1L EUR		16,336			15,024
CAMBR 7A B FLT 06/12/2042 144A		96,752			—
CANNINGTON FND 2006-1A INC11/2		1,400,000			539,000
CANYON CAP 2014-1A SUB 4/30/25		8,000,000			6,480,000
CAPITALAND LTD 1.95 10/17/2023 REG S		500,000			383,337
CAPMARK TL STUB		1,727,905			13,823
CARTESIO S.R.L. FLT 03/07/2028		575,000			447,390
CASTLE GARDEN 2005-1A SUB		460,000			478,400
CATALYST PAPER CORP 11 10/30/2017 PIK		77,863			72,802
CELSA AMORT		1,795			478
CELSA BULLET A		8,090			2,154
CELSA BULLET B		519			138
CELSA EXCH A PIK		5,478			1,458
CEMEX SAB DE CV		131,000			152,379
CENT CLO LP 2014-22I SUB IAI N		300,000			267,780
CFS RETAIL PROPERTY 5.75 07/04/2016		500,000			427,498
CHINA OVERSEA FIN KY III 3.375 10/29/2018		(800,000	)		(807,828)
CHINA OVRES FIN KY 4 0 02/04/2021		1,000,000			1,081,250
CHINA UNICOM(HK) LTD 0.75% 18OCT15 CVB		800,000			800,000
CIENA CORP 0.875 06/15/2017		(158,000	)		(157,313)
CIFC FUNDING LTD 1% 01 Mar 2021		58,367			58,031
CINRAM 1 C 12/17/2016		939,192			149,975
CITIGROUP INC 1% 01 May 2017		700,000			698,219
CITRIX SYSTEMS INC 0.5 04/15/2019 144A		(529,000	)		(559,687)
CLEAR CHANNEL COMMUNICAT 14% 02/01/2021 2% PIK		(286,600	)		(236,445)
CLEAR CHANNEL COMMUNICAT 9 09/15/2022 144A		209,000			203,775
CLEAR CHANNEL TL D-EXT 1L		214,400			202,072
CLEVELAND ELECTRIC ILLUM 5.7% 01 Apr 2017		189,000			203,830
CMSI 2006-5 1A11 FLT 10/25/2036		23,107			18,441
CNLF 1999-1 F 8.5 08/18/2016		10,182			10,418
COMDISCO 6.125% 01/15/03		117,000			—
COMDISCO 6.13% 08/01/01		56,000			—
COMDISCO 7.25% 9/01/02		98,000			—
COMDISCO 9.5% 08/15/03		65,000			—

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
COMMERCIAL MORTGAGE LOAN TRUST 1% 10 Dec 2049		372,779			400,643
COMMERZBANK AG 4 09/16/2020		(152,000	)		(217,301)
COMSTOCK FUNDING 2006-1A INC 5		2,300,000			1,525,666
CONTI 177. SCHIFFFAHRTS-GMBH & CO. BULKER KG MS		70,138			49,097
CONTI 178 SCHIFFFAHRTS-GMBH & CO BULKER KG MS		70,561			49,393
CONTI 182. SCHIFFFAHRTS-GMBH & CO. KG NR. 1		71,400			49,980
CONTI 183. SCHIFFFAHRTS-GMBH & CO. KG NR. 1		70,999			49,699
CONTI 184. SCHIFFFAHRTS-GMBH & CO. KG NR. 1		74,294			52,006
CONTI 185. SCHIFFFAHRTS-GMBH & CO. KG NR. 1		76,515			53,560
CO-OPERATIVE BANK PLC 11 12/20/2023		168,880			304,634
CO-OPERATIVE BANK PLC 5.125 09/20/2017		113,000			168,175
CORNERSTONE CLO LTD 1% 15 Jul 2021		673,692			667,846
CORY ACQ FAC		497			620
CORY CAPEX FAC		85			105
CORY EFW FAC		113			141
CORY LC		247			238
CORY RCF		112			140
COUNTRYWIDE ALTERNATIVE LOAN T 1% 20 Dec 2046		240,554			182,309
COUNTRYWIDE HOME LOANS 1% 25 Mar 2035		118,964			113,275
CP FOODS HOLDINGS LTD 0.5 01/15/2019		1,600,000			1,608,000
CREDIT SUISSE FIRST BOSTON MOR 1% 25 Oct 2034		16,509			15,980
CTRIP.COM INTER LTD. 1.25 10/15/2018		1,053,000			1,026,675
CWALT 2006-OA16 M1 FLT 10/25/2046 ESCROW		1			—
CWL 2007-1 M2 FLT 07/25/2037 ESC		1			—
DECO 9-E3A C PAN EUROPE 3 144A		500,000			232,990
DEPFA ACS BANK 3.875% 14 Nov 2016		1,000,000			1,289,747
DERWENT LONDON CAPITAL N 1.125 07/24/2019		(200,000	)		(343,627)
DEUTSCHE POST AG 0.6 12/06/2019		(1,100,000	)		(1,841,346)
DIAMOND OFFSHORE DRILL 5.875 05/01/2019		(130,000	)		(140,725)
DNB BANK ASA 3.875 06/29/2020		(169,000	)		(242,341)
DNB BANK ASA 4.25 01/18/2022		(100,000	)		(149,847)
DNB BANK ASA 4.375 02/24/2021		(100,000	)		(148,225)
ECLIP 2006-3 A FLT 07/25/2019		1,368,743			533,262
ECLIP 2006-3 B 0.78438 07/25/2019		381,286			1,485
EHME 2007-1 A FLT 07/02/2050		288,204			279,005
EHMI 2007-1 A FLT 11/02/2054		2,244,987			2,254,827
EHMU 2007-2 M2 FLT 09/15/2044		50,000			58,830
EITZEN SG TL 265 USD		5,877			3,644
EITZEN TL 510 USD		3,067			1,901
ELECTRONIC ARTS INC 0.75 07/15/2016		447,000			674,358
ELLI FINANCE UK PLC 8.75 06/15/2019		220,000			347,991
E-MAC DE07-1 B FLT 11/25/2054		100,000			88,791
ENERGY FUTURE TXU 11.75% 03/01		5,940,000			7,024,050
ENI SPA 0.625 01/18/2016		(1,700,000	)		(2,177,514)
ESAIL 2006-2X D1C FLT 12/15/2044		99,000			114,940
ESAIL 2006-4X C1C FLT 12/10/2044		126,884			154,728
ESAIL 2007-3X A3A 1.064 06/13/2045		800,000			764,783
ESAIL 2007-3X D1A FLT 06/13/2045		323,000			168,071
ESAIL 2007-3X E1C FLT 06/13/2045		78,000			32,328
ESAIL 2007-4X A2A FLT 06/13/2045 GBP		699,210			1,077,936
ESAIL 2007-4X A3 FLT 06/13/2045		276,000			419,365
ESAIL 2007-4X A4 FLT 06/13/2045		75,000			109,575
ESAIL 2007-4X A5 FLT 06/13/2045		36,000			50,773
ESAIL 2007-4X E1C FLT 06/13/2045		126,839			163,035
ESAIL 2007-4X RESD 0 06/13/2045		174			460,975
ESCROW COMDISCO MTN 0.00 I		44,000			—
ESCROW COMDISCO MTN 0.00 II		29,000			—
ESPIRITO SANTO FIN GRP 0% 06MAY15 CP		5,000			212
ESPIRITO SANTO FIN GRP 3.125 12/02/2018 NON-ACC		100,000			3,025
ESPIRITO SANTO FIN GRP 9.75 12/19/2025 NON-ACC		57,000			1,724
EUROPEAN INVESTMENT BANK 0.5% 10 Aug 2023		200,000			123,061
EUROPEAN INVESTMENT BANK 0.5% 21 Jul 2023		200,000			123,316
EUROPEAN UNION 2.375% 22 Sep 2017		200,000			257,694
EUROPEAN UNION 2.75% 03 Jun 2016		400,000			502,873
EUROPEAN UNION 3.625% 06 Apr 2016		200,000			253,029
EVERGREEN SOLAR INC 13 04/15/2015 (NON-ACC)		16,947			—
EVERGREEN SOLAR INC 4 07/15/2013 (DEFAULT)		20,000			50
EXTRACTION OIL & GAS HOLDINGS LLC		1,625,597			1,643,093
EXTRACTION OIL & GAS HOLDINGS LLC DT II		914,080			892,435
FANNIE DISCOUNT NOTE 0 04/15/2015		6,000,000			5,997,498
FANNIE DISCOUNT NOTE 0.01% 13 Apr 2015		100,000			99,976
FANNIE DISCOUNT NOTE 0.01% 22 Apr 2015		100,000			99,973
FANNIE MAE 6% 18 Apr 2036		1,400,000			1,492,665
FANTASIA HOLDINGS GROUP 10.625 01/23/2019		200,000			171,500
FED HOME LN DISCOUNT NT 0.01% 09 Jan 2015		1,100,000			1,099,996
FED HOME LN DISCOUNT NT 0.01% 17 Apr 2015		100,000			99,975
FED HOME LN DISCOUNT NT 0.01% 20 Feb 2015		2,500,000			2,499,915
FED HOME LN DISCOUNT NT 0.01% 27 Mar 2015		100,000			99,993
FFMER 2007-4 2M3 0.52063 07/25/2037 (ESC)		1			—
FHR 3346 SC FLT 10/15/2033		1,542,514			275,192
FINANCIERE GAILLON 8 SAS 7 09/30/2019		275,000			321,962
FIRST DATA CORP 11 3/4% 8/15/2		896,000			1,031,520
FMS WERTMANAGEMENT 0.75% 15 Dec 2017		100,000			154,594
FMS WERTMANAGEMENT 3.375% 17 Jun 2021		200,000			288,763
FNMA TBA 15 YR 3.5 3.5% 18 Feb 2030		5,000,000			5,274,120
FNMA TBA 30 YR 3.5 3.5% 14 Jan 2045		(800,000	)		(833,938)
FNMA TBA 30 YR 4 4% 12 Feb 2045		(4,000,000	)		(4,258,078)
FNMA TBA 30 YR 4 4% 14 Jan 2045		—			1,329

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
FNMA TBA 30 YR 4.5 4.5% 11 Dec 2044		(6,700,000	)		(7,270,868)
FNMA TBA 30 YR 4.5 4.5% 14 Jan 2045		(6,700,000	)		(7,272,641)
FNR 2004-29 PS FLT 05/25/2034		114,515			24,445
FNR 2004-92 S FLT 08/25/2034		43,330			4,491
FNR 2005-79 NS FLT 09/25/2035		100,798			15,936
FNR 2006-43 SJ FLT 06/25/2036		51,491			8,957
FNR 2006-62 SB FLT 04/25/2036		65,786			11,932
FNR 2007-53 SG FLT 06/25/2037		63,387			11,030
FNR 2009-106 SA FLT 01/25/2040		109,659			18,075
FNR 2009-90 QI 6.34375 08/25/2036		520,454			93,696
FNR 2010-56 AS FLT 06/25/2040		335,045			42,550
FNR 2010-58 SA FLT 06/25/2040		136,396			24,173
FOMENTO DE CONSTRUCCIONES PIK TERM B UNSEC		127,808			138,635
FOMENTO DE CONSTRUCCIONES TL A1 UNSEC EUR		12,225			13,260
FOMENTO DE CONSTRUCCIONES TL A2 UNSEC EUR		818,016			887,311
FORE CLO LTD 1% 20 Jul 2019		133,797			133,569
FOSSE MASTER ISSUER PLC 1% 18 Oct 2054		300,000			472,886
FRANCE (GOVT OF) 1% 25 May 2018		1,400,000			1,750,679
FRANCE (GOVT OF) 3.25% 25 May 2045		100,000			158,565
FRANCE (GOVT OF) 4% 25 Oct 2038		300,000			520,739
FRANCE (GOVT OF) 4.5% 25 Apr 2041		1,100,000			2,084,918
FREDDIE MAC 1% 15 Jul 2036		11,150			11,216
FREDDIE MAC 1% 15 May 2036		186,016			186,241
FREDDIE MAC 1% 15 Nov 2036		1,600,980			1,616,666
FREDDIE MAC 4.375 07/17/2015		5,000,000			5,111,750
FREDDIE MAC DISCOUNT NT 0.01% 21 Apr 2015		100,000			99,974
FRENCH TREASURY NOTE 2.5% 25 Jul 2016		300,000			377,245
GALLATIN FUNDING LTD 1% 15 Jul 2023		200,000			199,059
GLITNIR BON-BAML3		228,304			82,881
GLOBAL A&T ELECTRONICS 10 02/01/2019 144A		200,000			179,000
GM 8.375% 7/15/2033 - ESCROW		112,000			11
GMAC MORTGAGE CORPORATION LOAN 1% 25 Jun 2034		43,288			41,569
GNR 2007-26 SG FLT 04/20/2037		75,668			11,840
GP PORTFOLIO TRUST 1% 15 Feb 2027		200,000			199,494
GPMF 2006-AR3 3A1 FLT 04/25/2036		97,266			71,215
GPMF 2006-OH1 M1 0.60875 01/25/2037 ESC		1			—
GRANITE MASTER ISSUER PLC 1% 20 Dec 2054		206,966			205,260
GRANITE MORTGAGES PLC. 1% 20 Jul 2043		69,448			69,122
GREENS CREEK FUNDING LTD		2,940,000			1,960,001
GRP BRUXELLES LAMBERT SA 0.375 10/09/2018		(300,000	)		(388,896)
GRUPO EMPRESARIAL SAN JOSE SA TL A 1L EUR		17,422			9,487
GRUPO EMPRESARIAL SAN JOSE SA TL B 1L EUR		14,131			7,695
GRUPO EMPRESARIAL SAN JOSE SA TL C 1L EUR		12,576			6,848
GRUPO EMPRESARIAL SAN JOSE SA TL E 1L EUR		8,503			4,630
GRUPO EMPRESARIAL SAN JOSE SA TL G 1L EUR		167,898			91,428
GSAA 2006-S1 1M1 0.705 01/25/2037 ESC		1			—
GSAA 2007-1 M1 0.52 02/25/2037 ESC		1			—
GSAMP 2007-NC1 M2 0.53 12/25/2046 ESC		1			—
GSR 2004-15F 2A3 6 12/25/2034		28,854			5,575
HARBINGER 7.75% 1/15/2022		670,000			673,350
HASC 2006-WMC1 M2 0.60875 07/25/2036 ESC		1			—
HBOS PLC 6.75% 21 May 2018		254,000			283,082
HCHC 11% 12/1/19 144A HC2 HOLD		510,000			499,800
HEAT 2006-6 M1 FLT 11/25/2036 ESC		1			—
HEAT 2006-7 M1 FLT 01/25/2037 ESC		1			—
HEAT 2007-2 M1 0.75875 07/25/2037 ESC		1			—
HEMT 2006-6 M1 3.60875 03/25/2037 ESC		1			—
HEMT 2006-6 M2 2.85188 03/25/2037 ESC		1			—
HIBU SPAIN TL EUR		135			—
HIBU A2 USD		1,688			1,857
HIBU B2 USD PIK		3,922			—
HOST HOTELS & RESORTS LP		214,000			395,805
HOUFIT 8 6/22A 24 HOUR HOLDINGS III LLC 8 06/01/2022 144A		90,000			72,000
HSBC FINANCE CORP 6.676% 15 Jan 2021		600,000			711,874
HVMLT 2006-12 B2 FLT 01/19/2038 ESCROW		1			—
HVMLT 2007-2 B1 0.87875 05/25/2038 ESC		1			—
ICE CANYON CLO 2012 1A INC		2,900,000			2,001,000
ICE CANYON CLO 2013 1A INC		2,700,000			1,782,000
ICM 2006-S2A A1LB FLT 10/12/2045 144A		258,006			—
ILLUMINA INC 0.5 06/15/2021 144A		(315,000	)		(357,167)
IMTECH CAP 7.35% 2% PIK 7/15/14 SER C CRYSTL MWN		98			78
IMTECH CAP BV 7.35% 2% PIK 7/15/14 SER C CRSTL MWN		6,542			5,233
IMTECH CAP BV 7.35% 2% PIK 7/15/14 SER C SNR NOTES		2,545			2,036
IMTECH CAP BV 7.35% 2% PIK 7/15/17 SER C SNR NOTES		90,382			72,305
IMTECH CAPITAL BV 6.52 7/15/17 SER D SNR NTS 2 PIK		7,309			7,076
IMTECH CAPITAL BV 9.52 7/15/17 SER D SNR NTS 2 PIK		218,002			211,043
INABS 2007-B M2 FLT 07/25/2037 ESCROW		1			—
INDAH CAPITAL LTD 0 10/24/2018		500,000			395,611
INDIANA TOLL ROAD TL B CITI UNI		18,881			14,538
INDIANA TOLL ROAD TL A BNP		408,628			314,643
INDIANA TOLL ROAD TL A BOA BANKIA		209,466			161,289
INDIANA TOLL ROAD TL A BOA SANT		1,090,242			839,486
INDIANA TOLL ROAD TL A BOFA2		244,116			187,969
INDIANA TOLL ROAD TL A DB		145,212			111,814
INDIANA TOLL ROAD TL B BNP		18,873			14,532
INDIANA TOLL ROAD TL B BOA BANKIA		9,674			7,449
INDIANA TOLL ROAD TL B BOA SANT		48,930			37,676
INDIANA TOLL ROAD TL B BOFA2		11,279			8,685

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value		Current Value
INDIANA TOLL ROAD TL B DB		6,707		5,164
INDIANA TOLL ROAD TL C BNP		57,672		44,408
INDIANA TOLL ROAD TL C BOA		150,730		116,062
INDIANA TOLL ROAD TL C BOA BANKIA		29,563		22,764
INDIANA TOLL ROAD TL C BOFA2		34,455		26,530
INDIANA TOLL ROAD TL C CITI UNI		57,699		44,428
INDIANA TOLL ROAD TL C DB		20,495		15,781
INDIANA TOLL ROAD TLA CITI UNI		408,818		314,790
INDX 2006-AR3 3X FLT 04/25/2036 ESCROW		1		—
INDYMAC INDX MORTGAGE LOAN TRU 1% 25 Sep 2035		191,465		165,337
INDYMAC RESIDENTIAL ASSET BACK 1% 25 Aug 2035		236,290		233,448
INFIG CONSTRUCTION AF2 AUD		153,824		104,964
INFIG CONSTRUCTION AF2 EUR		45,258		45,730
INFIG CONSTRUCTION AF3 AUD		2,786		1,901
INFIG CONSTRUCTION AF3 EUR		2,771		2,800
INFIG CONSTRUCTION LC AUD		4,365		(589)
INFIGEN CONSTRUCTION MF AUD		137,610		93,900
INFIGEN CONSTRUCTION MF USD		9,888		8,257
INFIGEN LC EUR		11,360		(2,268)
INFIGEN TL MF AUD		129,779		88,556
INFIGEN TL MF USD		124,226		103,729
INFIGEN TLAF1 USD		163,797		136,771
INFIGEN WC MF EUR		10,069		(2,010)
ING BANK NV 2.5% 14 Jan 2016		400,000		407,678
INTC 2.95% 12/15/35		263,000		346,410
INTESA SANPAOLO NEW YORK 1% 11 Apr 2016		500,000		500,875
INTL BANKING CORP SYN CLAIM		195		4
IPAYMENT INC 9.5 12/15/2019 144A		145,086		145,086
ITALY GOV T INT BOND 6% 04 Aug 2028		100,000		190,991
ITR LOAN FROM SWAP BANKIA BOA		285,637		219,941
ITR LOAN FROM SWAP BNP BNP		79,524		61,233
ITR LOAN FROM SWAP DEXIA CITI		374,285		288,199
ITR LOAN FROM SWAP SANTANDER BOA		1,226,947		944,749
IVG CONCRETE PRE-FUND 3 TLA3 3M DEAL GBL PIK TGL		133		149
IVG CONCRETE PRE-FUND2 TLA2-7M DEAL GLOBAL PIK TGL		1,396		1,564
IVG CONCRETE PRE-FUND3 TLA2 W M DEAL GLBL PIK TGL		953		1,067
IVG CONCRETEPRE-FUND 2 TLA3 7M DEAL GLOBAL PIK TGL		533		598
IVG NEW MONEY EXIT TLA1 PIK TOGGLE		39,299		47,556
IVG NEW MONEY EXIT TLA2 PIK TOGGLE		61,607		74,551
IXIS 2007-HE1 M1 0.51594 05/25/2037 ESC		1		—
JAKKS PACIFIC INC 4.875 06/01/2020 144A		39,000		34,218
JAMESTOWN CLO LTD 2012-1A SUB		2,700,000		2,281,500
JAPAN (20 YEAR ISSUE) 1.4% 20 Sep 2034		290,000,000		2,568,951
JAPAN (20 YEAR ISSUE) 1.5% 20 Mar 2033		20,000,000		182,442
JAPAN (20 YEAR ISSUE) 1.6% 20 Mar 2033		250,000,000		2,315,359
JAPAN (20 YEAR ISSUE) 1.7% 20 Sep 2032		450,000,000		4,243,178
JAPAN (30 YEAR ISSUE) 1.7% 20 Sep 2044		290,000,000		2,674,294
JEFFERSON CO-CABS-F 0 10/01/2046		115,000		71,013
JP MORGAN CHASE BANK NA 6% 01 Oct 2017		1,000,000		1,109,884
JP MORGAN CHASE COMMERCIAL MOR 1% 12 Feb 2049		400,000		429,130
JP MORGAN CHASE COMMERCIAL MOR 1% 12 Jun 2043		590,640		619,185
JP MORGAN CHASE COMMERCIAL MOR 5.42% 15 Jan 2049		753,267		804,172
JP MORGAN MORTGAGE TRUST 1% 25 Apr 2035		111,244		112,955
JPMMT 2004-S2 4A2 FLT 11/25/2034		80,229		19,125
JPMORGAN CHASE + CO 1% 25 Apr 2018		500,000		498,854
JUNTA DE CASTILLA Y LEON 6.505% 01 Mar 2019		340,000		500,342
K HOVNANIAN ENTERPRISES 6 12/01/2017		575,000		669,760
KAISA GROUP HOLDINGS LTD 8 12/20/2015		800,000		92,833
KATONAH IX CLO PFD 01/25/19 14		1,000,000		245,000
KAUP BOND EUR DB		1,399,306		380,993
KAUP BOND EUR DB2		1,295,928		352,846
KAUP LOAN EUR ML		53,671		14,613
KAUPTHING BOND EUR YORVIK		217,698		59,273
KAUPTHING BOND TRADE CLAIM EUR MS		276,496		75,282
KAUPTHING BOND TRADE CLAIM EUR MS 2		266,449		72,547
KAUPTHING BOND TRADE CLAIMS AUD BARC		175,701		24,768
KAUPTHING BOND TRADE CLAIMS CHF CITI		58,567		10,019
KAUPTHING BOND TRADE CLAIMS CHF DB		130,019		22,241
KAUPTHING BOND TRADE CLAIMS CHF MS		207,065		35,421
KAUPTHING BOND TRADE CLAIMS CHF MS2		58,270		9,968
KAUPTHING BOND TRADE CLAIMS EUR MS		153,424		41,773
KAUPTHING BOND TRADE CLAIMS EUR RBS		92,953		25,309
KAUPTHING BOND TRADE CLAIMS USD SEAP		1,033,040		224,686
KAUPTHING BOND TRADE CLAIMS USD YORVIK		99,427		21,625
KAUPTHING BOND TRADE CLAIMS USD YORVIK2		74,497		16,203
KAUPTHING BOND TRUST TRADE CLAIMS EUR CITI		86,051		23,429
KAUPTHING BOND TRUST TRADE CLAIMS USD CITI		666,457		144,954
KAUPTHING BOND TRUST TRADE CLAIMS USD CITI2		58,961		12,824
KAUPTHING BOND TRUST TRADE CLAIMS USD CITI3		32,938		7,164
KAUPTHING BOND TRUST TRADE CLAIMS USD CITI4		1,862,653		405,127
KAUPTHING BOND TRUST TRADE CLAIMS USD CITI5		348,357		75,768
KAUPTHING BOND TRUST TRADE CLAIMS USD CITI6		585,672		127,384
KAUPTHING BOND TRUST TRADE CLAIMS USD CITI7		585,672		127,384
KAUPTHING BOND TRUST TRADE CLAIMS USD CITI8		260,249		56,604
KAUPTHING BOND TRUST TRADE CLAIMS USD CITI9		347,528		75,587
KAUPTHING BOND TRUST TRADE CLAIMS USD DB		195,691		42,563
KAUPTHING BOND TRUST TRADE CLAIMS USD MS		465,629		101,274
KAUPTHING BOND TRUSTEE USD CIT 10		962,945		209,441

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
KAUPTHING BOND USD CITI		310,732			67,584
KAUPTHING DEPOSIT TRADE CLAIM EUR CIT		2,922,174			795,628
KAUPTHING DEPOSIT TRADE CLAIM EUR CIT2		1,295,928			352,846
KFW 2% 07 Sep 2016		500,000			625,384
KKR FINANCIAL 2007-1A SUB 5/15		380,000			338,200
L 3.75% 02/15/30		1,174,000			745,490
L 4.0% 11/15/29 (FON)		785,000			506,325
L 8.5% 07/15/29		(95,000	)		(105,501)
LBHI CLASS 9A		46,904			3,948
LBHI GUARANTEE CLAIM USD		256,175			20,494
LBHI TERM LOAN JPY		156,115,025			198,595
LBIE CLAIM GBP2		212,000			120,589
LBIE TCL GBP TORONTO-DOMINION BANK		29,808			18,872
LBMLT 2006-10 M2 0.51875 11/25/2036 ESC		1			—
LBMLT 2006-5 M1 FLT 06/25/2036 ESC		1			—
LCPI CLAIM WDAC		9,740			1,266
LEHMAN BROTHERS HOLDINGS		10,983,000			1,591,433
LEHMAN BROTHERS HOLDINGS 0 01/14/2009 (NON ACC)		2,450,000			346,063
LEHMAN BROTHERS HOLDINGS 0 03/17/2011 EUR		649,000			128,602
LEHMAN BROTHERS HOLDINGS 0 04/05/2011 EUR		386,000			76,487
LEHMAN BROTHERS HOLDINGS 0 05/04/2011 EUR		472,000			92,815
LEHMAN BROTHERS HOLDINGS 0 05/19/2016 EUR		150,000			29,496
LEHMAN BROTHERS HOLDINGS 0 05/25/2010 (NON ACC)		1,723,000			248,767
LEHMAN BROTHERS HOLDINGS 0 06/12/2013 EUR NA		326,000			64,598
LEHMAN BROTHERS HOLDINGS 0 07/20/2012		560,000			110,119
LEHMAN BROTHERS HOLDINGS 0 08/21/2009 (NON-ACC)		252,000			35,910
LEHMAN BROTHERS HOLDINGS 0 09 NA		67,000			9,673
LEHMAN BROTHERS HOLDINGS 0 10/25/2011 EUR		43,000			8,521
LEHMAN BROTHERS HOLDINGS 0 11/09/2009 EUR NA		374,000			74,110
LEHMAN BROTHERS HOLDINGS 0% 03/05/2010 NA		50,000			9,908
LEHMAN BROTHERS HOLDINGS 01/12 NON ACC		363,000			52,410
LEHMAN BROTHERS HOLDINGS 03/09 NA		3,050,000			440,359
LEHMAN BROTHERS HOLDINGS 05/10/2012 EUR		1,350,000			265,466
LEHMAN BROTHERS HOLDINGS 05/19/2023 NA		11,000			1,554
LEHMAN BROTHERS HOLDINGS 11 06/22/2022 (NA)		78,000			11,115
LEHMAN BROTHERS HOLDINGS 12/18 NA		239,000			34,507
LEHMAN BROTHERS HOLDINGS 4 03/09/2015 EUR		2,546,000			512,202
LEHMAN BROTHERS HOLDINGS 4 05/04/2011 EUR		922,000			185,487
LEHMAN BROTHERS HOLDINGS 4.75 01/16/2014 EUR		509,000			102,400
LEHMAN BROTHERS HOLDINGS 5.125 06/27/2014 EUR		550,000			110,649
LEHMAN BROTHERS HOLDINGS 5.25 12 NA		416,000			60,320
LEHMAN BROTHERS HOLDINGS 5.375 10/17/2012 EUR		200,000			40,236
LEHMAN BROTHERS HOLDINGS 5.5 02/27/2020 (NON ACC)		18,000			2,565
LEHMAN BROTHERS HOLDINGS 5.625 03/15/2030(NON ACC)		17,000			2,423
LEHMAN BROTHERS HOLDINGS 5.7 12/14/2029 (NON ACC)		25,000			3,563
LEHMAN BROTHERS HOLDINGS 5.75 07/18/2011 (NON ACC)		328,000			47,150
LEHMAN BROTHERS HOLDINGS 6 04/01/2011 (NA)		462,000			49,472
LEHMAN BROTHERS HOLDINGS 6.2 14 (NON-ACC)		2,215,000			329,481
LEHMAN BROTHERS HOLDINGS 6.375 05/10/2011 EUR		116,000			23,337
LEHMAN BROTHERS HOLDINGS 6.5 02/13/2037 (NON ACC)		21,000			2,993
LEHMAN BROTHERS HOLDINGS 7 11/16/2037 (NA)		12,000			1,710
LEHMAN BROTHERS HOLDINGS 7.875 11/01/2009(NON ACC)		7,500,000			1,068,750
LEHMAN BROTHERS HOLDINGS 9.5 12/28/2022 (NA)		229,000			32,633
LEHMAN BROTHERS HOLDINGS FLT 01/03/2023 (NON ACC)		15,000			2,138
LENNAR CORP		1,203,000			2,342,224
LETRA TESOURO NACIONAL 0.01% 01 Jul 2015		6,500,000			2,306,901
LIBERTY MEDIA CORP 1.375 10/15/2023		(79,000	)		(77,792)
LIBERTYVIEW CREDIT OPPORTUNITIES FUND LP		619,037			116,842
LIBERTYVIEW CREDIT SELECT FUND LP		296,707			56,003
LIBERTYVIEW FUNDS LP		284,921			53,778
LIBERTYVIEW GLOBAL RISK ARBITRAGE FUND LP		39,458			7,448
LIBERTYVIEW SPECIAL OPPORTUNITIES FUND LP		146,048			27,566
LLOYDS BANK PLC 1% 29 Dec 2049		500,000			710,000
LOS ANGELES CNTY CA PUBLIC WKS 7.618% 01 Aug 2040		300,000			437,745
LUDGATE FUNDING PLC 1% 01 Jan 2061		371,842			415,035
LXS 2007-18N AX 1 10/25/2037 (NON ACC)		1,850,215			—
LYB S91 CANT TRADE CLAIM 01/31/2025		344,300			63,696
LYB S91 TRADE CLAIM 01/31/2025		347,000			64,195
M SETEK CO LTD 1L DD JPY		22,000,000			174,341
MACQUARIE INFRASTRUCTURE 2.875 07/15/2019		(145,000	)		(164,609)
MADISON PARK F IV 2007-6A INC		260,000			292,500
MADISON PARK F V 2007-5A SUB 2		260,000			279,500
MADISON PARK FND 2006-2A INC		3,500,000			3,395,000
MADISON PARK FND III 2006-3A S		130,000			134,687
MADISON PARK FNDG 2011-7A SUB		1,040,000			967,200
MADISON PARK XV 2014-15A SUB 1		1,800,000			1,710,000
MANA 2007-OAR3 A3 FLT 07/25/2047 ESC		3			—
MANUTENCOOP FACILITY 8.5 08/01/2020		489,000			492,623
MARM 2007-HF1 M1 0.74606 05/25/2037 ESC		1			—
MAXIS LOANS SECURITISATION 1% 12 Sep 2041		56,156			46,381
MERCATOR CLO PLC 1% 18 Feb 2024		57,688			68,881
MERITAGE HOMES CORP		429,000			424,305
MERITOR INC 4 02/15/2027		763,000			822,327
MERRILL LYNCH MORTGAGE INVESTO 1% 25 Feb 2035		81,641			81,448
MERRILL LYNCH MORTGAGE INVESTO 1% 25 Feb 2036		38,352			35,134
MEX BONOS DESARR FIX RT 10% 05 Dec 2024		1,050,000			93,304
MEX BONOS DESARR FIX RT 6.5% 09 Jun 2022		10,000,000			711,326
MEX BONOS DESARR FIX RT 7.5% 03 Jun 2027		10,200,000			772,240

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
MFD 2008-1 B1 FLT 03/13/2046		405,205			589,636
MFD 2008-1 B2 FLT 03/13/2046		499,987			812,295
MFD 2008-1 R 0 03/13/2046		214			92,707
MGIC INVESTMENT CORP 5 05/01/2017		867,000			976,149
MGM RESORTS INTL 4.25 04/15/2015		1,082,000			1,278,218
MKP 6A A2 FLT 06/15/2051 144A		232,205			1
ML CFC COMMERCIAL MORTGAGE TRU 5.172% 12 Dec 2049		377,232			399,301
ML CFC COMMERCIAL MORTGAGE TRU 5.378% 12 Aug 2048		382,639			406,476
MLCC MORTGAGE INVESTORS INC 1% 25 Nov 2029		311,579			300,171
MLST IV-A A1A FLT 08/04/2047 144A ESCROW		1			—
MLST IV-A A1B FLT 08/04/2047 144A ESCROW		1			—
MLST IV-A A1C FLT 08/04/2047 144A ESCROW		1			—
MONGOLIAN MINING CORP 8.875 03/29/2017		432,000			289,440
MORGAN STANLEY 1% 15 Oct 2015		600,000			600,982
MORGAN STANLEY BAML TRUST 1% 15 Dec 2048		1,852,487			115,365
MORGAN STANLEY MORTGAGE LOAN T 1% 25 Feb 2047		198,605			154,374
MORGAN STANLEY MORTGAGE LOAN T 1% 25 Jan 2035		423,091			402,032
MORGAN STANLEY REREMIC TRUST 1% 12 Aug 2045		259,189			277,804
MOTOR PLC 1% 25 Aug 2021		389,760			390,097
MSAC 2006-HE6 M2 FLT 09/25/2036 ESC		1			—
MSAC 2007-HE1 M1 FLT 11/25/2036 ESCROW		1			—
MSAC 2007-NC1 M1 FLT 11/25/2036 ESC		1			—
MSM 2007-1XS M1 0.52875 09/25/2046 ESC		1			—
MSM 2007-2AX M1 0.52625 12/25/2036 ESC		1			—
MYLAN INC 3.75 09/15/2015		2,263,000			9,565,717
NATIONAL BANK GREECE SA 3.875% 07 Oct 2016		100,000			122,714
NATL ENERGY 10.375% UNIT FROM REORG		3,671,034			—
NAUTILUS SHIPHOLDINGS TERM LOAN B (JUNIOR LOAN)		436,106			8,949
NCIG HOLDINGS PTY LTD 12.5 08/26/2031		400,000			452,000
NEW S WALES TREASURY CRP 6% 01 Feb 2018		800,000			725,395
NEWCREST FINANCE PTY LTD 4.2 10/01/2022		55,000			49,921
NEWCREST FINANCE PTY LTD 4.45 11/15/2021		96,000			91,666
NEWCREST FINANCE PTY LTD 5.75 11/15/2041		55,000			48,169
NEWGATE FUNDING PLC 1% 01 Dec 2050		400,000			589,836
NIDEC CORP 0% 18SEP15 CVB		65,000,000			801,114
NISKA GAS STORAGE CAN/FI 6.5 04/01/2019 144A		339,000			255,945
NOMURA ASSET ACCEPTANCE CORPOR 1% 25 Aug 2034		49,688			47,707
NORDEA BANK AB 3.25 07/05/2022		(100,000	)		(144,135)
NORDEA BANK AB 4 06/29/2020		(85,000	)		(122,268)
NORDEA BANK AB 4.5 03/26/2020		(185,000	)		(259,620)
NOTA DO TESOURO NACIONAL 10% 01 Jan 2025		1,400,000			461,169
NOVO BANCO SA 3.375% 17 Feb 2016		200,000			242,516
NOVO BANCO SA 5.875 11/09/2015		(300,000	)		(367,341)
OAKTREE CLO 2014-2A SUB		1,500,000			1,500,000
ONTARIO (PROVINCE OF) 2.95% 05 Feb 2015		900,000			901,618
ONTARIO (PROVINCE OF) 3.15% 02 Jun 2022		500,000			456,387
ONTARIO (PROVINCE OF) 3.45% 02 Jun 2045		200,000			178,405
ONTARIO (PROVINCE OF) 3.5% 02 Jun 2024		500,000			463,730
ONTARIO (PROVINCE OF) 4% 02 Jun 2021		100,000			95,984
ONTARIO (PROVINCE OF) 4% 07 Oct 2019		200,000			218,734
OOMLT 2007-1 M2 FLT 01/25/2037 ESC		1			—
OOMLT 2007-4 M2 0.64328 04/25/2037 ESC		1			—
OOMLT 2007-5 M2 FLT 05/25/2037 ESCROW		1			—
OZLM FUNDING LTD 2012-2A SUB		1,200,000			966,560
OZLM FUNDING LTD 2013-3A SUB		1,000,000			882,500
OZLMF FUNDING LTD 2013-4A SUB		500,000			420,000
OZLMF FUNDING LTD 2013-5A SUB		2,500,000			2,087,500
OZLMF FUNDING LTD 2014-6A SUB		1,000,000			837,500
PALADIN ENERGY LTD 6 04/30/2017		400,000			360,000
PALOMAR CA CMNTY CLG DIST 7.194% 01 Aug 2045		300,000			360,768
PARAGON MORTGAGES PLC 1% 15 May 2041		389,967			580,142
PARAGON MORTGAGES PLC 1% 15 Nov 2038		164,421			153,775
PATRIOT COAL CORP 15 12/15/2023 NA		545,815			491,234
PEARSON DOL FIN TWO PLC 6.25% 06 May 2018		725,000			810,580
PESCANOVA TL		19,371			703
PETROBRAS GLOBAL FINANCE 3.25% 17 Mar 2017		400,000			377,000
PHS HLCO TR A EUR		1,606			1,263
PHS HLCO TR A GBP		8,228			8,335
PHS SNR TL EUR		1,941			2,161
PHS SNR TL GBP		9,948			14,262
POLAND GOVERNMENT BOND 3.25% 25 Jul 2025		3,000,000			901,535
POLAND GOVERNMENT BOND 4% 25 Oct 2023		3,700,000			1,173,021
PR BLDGS-T-TXBL 5.6 07/01/2030		97,000			69,664
PR COMLWTH UNREF-B 5 07/01/2035		5,000			3,425
PR COMWLTH REF-IMPT 5 07/01/2035 HP5		5,000			3,425
PR COMWLTH-IMPT-A 5 07/01/2029		5,000			3,627
PR PUB BLDGS-R1-QSCB 5.65 07/01/2028		469,000			343,543
PR PUB BLDGS-R1-QSCB 5.7 07/01/2028		254,000			186,055
PREFERRED TERM SECS XXI FLT 03/22/2038 144A		1,337,774			836,109
PREFERRED TERM SECS XXVII LTD FLT 12/22/2037 144A		78,765			55,518
PREFERRED TERM XXII FLT 09/22/2036 144A		965,280			612,953
PREFERRED TERM XXIII FLT 12/22/2036 144A		846,140			633,182
PROVINCE OF QUEBEC 3% 01 Sep 2023		100,000			89,465
PROVINCE OF QUEBEC 3.5% 01 Dec 2022		300,000			279,310
PR-REF-A 5 07/01/2032		5,000			3,456
PR-REF-A 5.5 07/01/2026		50,000			37,806
PR-REF-A 5.5 07/01/2039		215,000			155,879
PUERTO RICO BLDG 6 07/01/2041		15,000			10,500

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
PUERTO RICO-REF-D 5.75 07/01/2041		80,000			57,100
PUERTO RICO-REF-E 5.5 07/01/2031		15,000			10,800
PUERTO RICO-REF-E 5.625 07/01/2033		15,000			10,800
PUMA FINANCE LIMITED 1% 22 Aug 2037		88,840			72,394
QIHOO 360 TECH CO LTD 2.5 09/15/2018 144A		735,000			710,352
QUEENSLAND TREASURY CORP 4.25% 21 Jul 2023		100,000			89,351
RABOBANK NEDERLAND 3.875% 08 Feb 2022		700,000			744,643
RABOBANK NEDERLAND NY 1% 28 Apr 2017		700,000			699,212
RADIAN GROUP INC 3 11/15/2017		1,064,000			1,633,008
RALI 2006-QO10 M1 0.59063 01/25/2037 ESC		1			—
RALI 2007-QH2 M1 0.6225 03/25/2037 ESC		1			—
RALI 2007-QH2 M2 FLT 03/25/2037 ESC		1			—
RALI 2007-QH3 M1 FLT 04/25/2037 ESC		1			—
RED HAT INC 0.25 10/01/2019 144A		(302,000	)		(357,960)
RELIANCE COMMUNICATIONS LMA - DB		242,294			237,449
RELIANCE COMMUNICATIONS LMA 2017		70,434			68,673
RELIANCE INFRATEL LMA - DB		352,172			341,607
REPUBLIC OF ARGENTINA 12/15/2035 NON-ACC		4,150,000			305,025
REPUBLIC OF ARGENTINA 2.26 12/31/2038 FBN NON-ACC		565,000			340,144
REPUBLIC OF ARGENTINA 2.5 12/31/2038 FBN NON-ACC		385,000			196,350
REPUBLIC OF ARGENTINA 7.82 12/31/2033 FBN NON-ACC		151,371			158,904
REPUBLIC OF ARGENTINA 8.28 12/31/2033 FBN NON-ACC		1,849,288			1,650,490
REPUBLIC OF SLOVENIA 4.7% 01 Nov 2016		500,000			649,628
REPUBLIC OF SLOVENIA 5.25% 18 Feb 2024		900,000			988,875
REPUBLIC OF SLOVENIA 5.5% 26 Oct 2022		1,600,000			1,774,000
REPUBLIKA SLOVENIJA 4.125% 26 Jan 2020		400,000			547,853
REPUBLIKA SLOVENIJA 4.375% 06 Feb 2019		100,000			137,333
RIVERCITY AUD SWAP INTEREST LOAN CLAIM		99,596			7,325
RIVERCITY SWP PIK		12,116			—
RIVERSIDE CA ELEC REVENUE 7.455% 01 Oct 2030		200,000			263,076
RMAC SECURITIES PLC 1% 12 Jun 2044		248,759			364,138
RPG BYTY SRO 6.75 05/01/2020		782,000			968,773
RTSX 9.875 4/17 21ST CENTURY ONCOLOGY 9.875 04/15/2017		691,000			651,268
RYLAND GROUP		1,170,000			1,580,846
SAAD SA INVEST FLT 08/24/2017		25,324			3,039
SABR 2007-BR3 M1 FLT 04/25/2037 ESC		1			—
SABR 2007-BR4 M2 0.5726 05/25/2037 ESC		1			—
SABR 2007-NC1 M2 0.53 12/25/2036 ESC		1			—
SALIX PHARMACEUTICALS LT 1.5 03/15/2019 CVB		962,000			1,760,267
SALIX PHARMACEUTICALS LTD 01/15/2021 144A		109,000			111,180
SALUS 2012-1I SUB 03/05/21		900,000			850,050
SALUS 2012-1IN FN CLASS 03/05/		1,100,000			1,090,980
SALUS 2012-1IN SUBN 03/05/21		2,600,000			2,455,700
SAMI 2004-AR5 2A3 FLT 10/19/2034		21,625			18,880
SAMI 2006-AR3 12X 1 04/25/2036		2,275,620			93,740
SANDISK CORP 1.5 08/15/2017		1,694,000			3,252,722
SASC 2006-BC4 M2 FLT 12/25/2036 ESCROW		1			—
SASC 2006-BC6 M2 FLT 01/25/2037		1			—
SASC 2006-S4 M1 0.8375 01/25/2037 ESC		1			—
SASC 2007-BC1 M2 FLT 02/25/2037 ESC		1			—
SASC 2007-EQ1 M2 0.69722 03/25/2037 ESCROW		1			—
SAUR NEW TL EUR		21,518			23,305
SAUR NEW HLCO TL A		20,652			23,586
SAUR NEW HLCO TL B		183,021			189,637
SAUR NEW PIK A (7.77% PIK)		111,912			34,533
SAUR NEW PIK C (8% PIK)		26,119			8,060
SCIENTIFIC GAMES INTERNA 10 12/01/2022		2,324,000			2,126,460
SEMICONDUCTOR MANUFACTUR 0 11/07/2018		600,000			640,500
SIEMENS FINANCIERINGSMAT 1.05 08/16/2017		(1,500,000	)		(1,644,450)
SIEMENS FINANCIERINGSMAT 1.65 08/16/2019		(1,750,000	)		(1,991,923)
SINA CORP 1 12/01/2018		1,498,000			1,383,705
SLC STUDENT LOAN TRUST 1% 15 Jun 2017		704			704
SLM STUDENT LOAN TRUST 1% 25 Apr 2023		695,231			714,042
SLOSO 2005-1A A1L FLT 10/15/2035		1,013,238			780,194
SLOSO 2005-1A A1LA FLT 10/15/2035 144A		388,219			292,394
SLOSO 2007-1A A1LA FLT 10/07/2037 144A		597,613			444,632
SM INVESTMENTS CORP 1.625 02/15/2017		200,000			246,000
SMALL BUSINESS ADMINISTRATION 5.6% 01 Sep 2028		270,696			300,580
SMALL BUSINESS ADMINISTRATION 5.87% 01 Jul 2028		187,737			211,426
SNY SENIOR SUBORDINATED NOTES 9.75%		959,001			994,964
SOLARCITY CORP 1.625 11/01/2019 144A		236,000			212,338
SOLARCITY CORP 2.75 11/01/2018		26,000			27,989
SPS 2005-3X D1C FLT 12/10/2043		61,000			77,951
STANDARD PACIFIC CORP		555,000			627,755
STARWOOD WAYPOINT RESDTL 3 07/01/2019 144A		(106,000	)		(102,119)
STARWOOD WAYPOINT RESDTL 4.5 10/15/2017 144A		106,000			110,460
STONEY LANE FUNDING SUB 4/18/2		1,800,000			1,107,000
STRN 2007-1A PREF 5/13/22		10,000			3,725,000
SUNPOWER CORP 4.5 03/15/2015		92,000			107,518
SURF 2007-BC1 M2 FLT 01/25/2038 ESC		1			—
SVENSKA HANDELSBANKEN AB 2.625 08/23/2022		(100,000	)		(138,726)
SVENSKA HANDELSBANKEN AB 4.375 10/20/2021		(100,000	)		(150,936)
SVENSKA HANDELSBANKEN AB 5.125 03/30/2020 144A		(100,000	)		(113,120)
SWAN 1% 25 Apr 2041		131,605			108,963
SWEDBANK HYPOTEK AB 3.75% 20 Dec 2017		1,200,000			168,183
SWEDISH COVERED BOND 4% 21 Mar 2018		1,000,000			141,866
SWEDISH GOVERNMENT 4.25% 12 Mar 2019		1,100,000			164,613
SWISS LIFE HOLDING AG 0 12/02/2020		(430,000	)		(510,566)

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
TAKE-TWO INTERACTIVE SOF 1.75 12/01/2016		418,000			634,251
TENN VALLEY AUTHORITY 5.88% 01 Apr 2036		363,000			495,161
TENN VALLEY AUTHORITY 6.25% 15 Dec 2017		400,000			458,449
TESLA MOTORS INC 0.25 03/01/2019		223,000			207,018
TESLA MOTORS INC 1.5 06/01/2018		517,000			958,038
TEXAS COMP ELEC HOLD L/C EXT		390,688			251,994
TEXAS COMPETITIVE/TCEH 10.25 11/01/2015 DFT NA		575,000			54,625
TEXAS COMPETITIVE/TCEH 10.5 11/01/2016 DFT NA		229,000			21,755
TEXAS COMPETITIVE/TCEH 15 04/01/2021 DFT NA		1,015,000			177,625
THEAT 2007-1 C FLT 10/15/2031		320,278			475,412
THEAT 2007-1 D FLT 10/15/2031		115,731			164,123
THEAT 2007-2 B FLT 10/15/2031		190,174			284,513
THEAT 2007-2 C FLT 10/15/2031		224,284			332,048
THEAT 2007-2 D FLT 10/15/2031		52,034			73,792
THQ INC 5 08/15/2019 DFT NA ESCROW		368,000			57,040
THUNDERBIRD LNG LLC		670,521			704,047
THUNDERBIRD RESOURCES		352,693			335,358
TITN 2007-1X A FLT 01/20/2017		1,014,790			1,362,734
TITN 2007-1X C FLT 01/20/2017		177,000			28
TORRENS TRUST 1% 14 Jan 2041		118,786			98,217
TOWERGATE FINANCE PLC FLT 02/15/2018		264,000			362,047
TRANSOCEAN INC 6.375 12/15/2021		(36,000	)		(33,300)
TRANSOCEAN INC 6.5 11/15/2020		(90,000	)		(84,825)
TREASURY BILL 0 04/02/2015		5,000,000			4,999,536
TREASURY BILL 0% 03/05/2015		8,000,000			7,999,850
TREASURY BILL 0.01% 09 Apr 2015		270,000			269,980
TREASURY BILL 0.01% 28 May 2015		280,000			279,926
TREASURY CORP VICTORIA 6% 17 Oct 2022		100,000			99,722
TRINA SOLAR LTD 3.5 06/15/2019 144A		328,000			297,413
TRINA SOLAR LTD 4 10/15/2019 144A		237,000			211,177
TROPC 2004-1A A1L FLT 07/15/2034 144A		192,356			148,777
TROPC 2004-4A A2L FLT 04/15/2035 144A		1,109,000			635,446
TROPC 2006-5A A1L2 FLT 07/15/2036		1,832,799			1,246,303
TRYON PARK CLO LTD SUB 7/25 (1		1,100,000			907,500
TSY INFL IX N/B 0.125% 15 Apr 2019		2,634,762			2,605,737
TSY INFL IX N/B 0.125% 15 Jan 2023		1,748,824			1,691,031
TSY INFL IX N/B 0.125% 15 Jul 2022		103,257			100,603
TSY INFL IX N/B 0.125% 15 Jul 2024		900,027			866,768
TSY INFL IX N/B 0.625% 15 Jul 2021		210,710			213,360
TSY INFL IX N/B 1.375% 15 Feb 2044		407,540			461,253
TSY INFL IX N/B 2.375% 15 Jan 2025		125,972			147,899
TSY INFL IX N/B 2.375% 15 Jan 2027		117,746			140,918
TSY INFL IX N/B 2.5% 15 Jan 2029		110,597			137,235
TSY INFL IX N/B 3.875% 15 Apr 2029		288,884			413,465
TXU EXTENDED TL		11,098,343			7,186,177
TXU TL B3		1,570,024			1,004,815
UK TSY 1% 2017 1 09/07/2017		212,000			333,263
UK TSY 2 3/4 2024 2.75% 07 Sep 2024		200,000			339,290
UK TSY 3 1/4 2044 3.25% 22 Jan 2044		1,300,000			2,338,506
UK TSY 4 1/4 2032 4.25% 07 Jun 2032		100,000			201,268
UK TSY 4 1/4 2036 4.25% 07 Mar 2036		100,000			204,225
UK TSY 4 1/4 2040 4.25% 07 Dec 2040		700,000			1,463,969
UK TSY 4 3/4 2038 4.75% 07 Dec 2038		100,000			222,159
UNIBAIL-RODAMCO SE 0.75 01/01/2018		(3,513	)		(1,116,334)
UNITED AIRLINES INC 4.5 01/15/2015		205,000			724,547
US STEEL CORP 2.75 04/01/2019		683,000			851,379
US TREASURY BILL 0% 05/28/2015		7,000,000			6,998,435
US TREASURY BOND 3.375% 05/15/2044		(33,400	)		(37,606)
US TREASURY N/B 0.125% 30 Apr 2015		11,500,000			11,502,691
US TREASURY N/B 1.75% 15 May 2023		600,000			584,203
US TREASURY N/B 2% 30 Nov 2020		100,000			100,875
US TREASURY N/B 2.25 11/15/2024		30,000			30,217
US TREASURY N/B 2.5% 15 Aug 2023		1,000,000			1,032,109
US TREASURY N/B 2.5% 15 May 2024		400,000			412,062
US TREASURY N/B 2.75% 15 Aug 2042		100,000			99,969
US TREASURY N/B 3.125% 15 Aug 2044		300,000			322,969
US TREASURY N/B 3.125% 15 Nov 2041		200,000			215,844
US TREASURY N/B 3.375% 15 May 2044		100,000			112,578
US TREASURY N/B 3.625% 15 Aug 2043		600,000			705,610
US TREASURY N/B 3.625% 15 Feb 2044		2,000,000			2,353,594
US TREASURY N/B 3.75% 15 Nov 2043		600,000			721,265
US TREASURY N/B 5.25% 15 Feb 2029		100,000			134,438
US TREASURY NOTE 1.5% 10/31/2019		121,000			120,244
US TREASURY NOTE 2.375 08/15/2024		(105,100	)		(107,034)
VERIZON COMMUNICATIONS 1% 15 Sep 2016		500,000			509,065
VERSO PAPER HLDGS LLC/IN 8.75 02/01/2019		71,000			39,760
VERSO PAPER HLDGS LLC/IN 8.75 02/01/2019 QIB BOND		42,000			23,520
VINCOM JSC 5 04/03/2017		400,000			480,000
VIVARTE PPN EUR		296,271			311,910
VIVARTE REINST TL		81,809			28,214
WACHOVIA MORTGAGE LOAN TRUST, 1% 20 Oct 2035		251,055			233,875
WAMU 2004-AR10 X 0 07/25/2044		558,783			30,106
WAMU 2004-AR12 X 0 10/25/2044		727,077			37,205
WAMU 2005-AR1 A1A FLT 01/25/2045		14,510			13,849
WAMU 2006-AR1 B2 FLT 01/25/2046 ESC		1			—
WAMU 2006-AR3 B2 FLT 02/25/2046 ESC		1			—
WAMU 2007-OA3 B1 FLT 04/25/2047 ESC		1			—
WAMU MORTGAGE PASS THROUGH CER 1% 25 Nov 2034		432,700			415,981

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
WAMU MORTGAGE PASS THROUGH CER 1% 25 Nov 2045		233,510			206,022
WASH MUTUAL PFD 6.534 03/29/49 144A (NON-ACC)		124			—
WASH MUTUAL PFD FDG III 6.895 06/49 144A (NON-ACC)		120			—
WEIGHT WATCHERS TL B2 1L		1,301,410			998,832
WELLS FARGO MORTGAGE BACKED SE 1% 25 Apr 2036		52,849			52,731
WELLS FARGO MORTGAGE BACKED SE 1% 25 Mar 2036		173,902			169,033
WESTPAC BANKING CORP 1% 19 May 2017		700,000			699,648
WESTPAC BANKING CORP 1.85% 26 Nov 2019		200,000			200,055
WINDERMERE SER I CL D FLT 01/31/2023		32,319			25,554
WINSWAY COKING COAL HOLD 8.5 04/08/2016		673,000			269,200
WMABS 2006-HE1 M4 0.6358 04/25/2036 ESC		1			—
WMABS 2007-HE2 M1 FLT 02/25/2037 ESC		1			—
WMALT 2007-OA3 MB1 0.7495 04/25/2047 ESC		1			—
WMALT 2007-OA3 MB2 FLT 04/25/2047 ESC		1			—
WMHE 2007-HE1 M2 FLT 01/25/2037 ESC		1			—
YASKAWA ELECTRIC CORP 0 03/16/2017		10,000,000			117,409
YY INC 2.25 04/01/2019 144A		211,000			195,808
ZHEN DING TECH HLD LTD 0% 06/07/2015		100,000			107,250
ZIGGURAT CLO LTD 2014-1A SUB 1		1,400,000			1,242,500
ZIGGURAT CLO LTD 2014-1F 10/17		300,000			254,790


Total Fixed Income Securities		1,989,158,713		$	295,310,893


Derivatives
90DAY EURO$ FUTR DEC19		(2	)	$	24
90DAY EURO$ FUTR MAR18		(2	)		(6,676)
90DAY EURO$ FUTR DEC15		(13	)		(9,175)
90DAY EURO$ FUTR DEC16		(5	)		(4,854)
90DAY EURO$ FUTR DEC17		(2	)		(6,276)
90DAY EURO$ FUTR DEC18		(2	)		(6,448)
90DAY EURO$ FUTR JUN15		(13	)		(16,261)
90DAY EURO$ FUTR JUN16		(5	)		(4,545)
90DAY EURO$ FUTR JUN17		(2	)		(5,451)
90DAY EURO$ FUTR JUN18		(2	)		(7,026)
90DAY EURO$ FUTR JUN19		(2	)		(4,301)
90DAY EURO$ FUTR MAR15		(13	)		(15,449)
90DAY EURO$ FUTR MAR16		(5	)		(4,235)
90DAY EURO$ FUTR MAR17		(2	)		(5,107)
90DAY EURO$ FUTR MAR19		(2	)		(5,517)
90DAY EURO$ FUTR SEP15		(13	)		(17,464)
90DAY EURO$ FUTR SEP16		(5	)		(6,197)
90DAY EURO$ FUTR SEP17		(2	)		(5,876)
90DAY EURO$ FUTR SEP18		(2	)		(7,549)
90DAY EURO$ FUTR SEP19		(2	)		(3,105)
A 2015 FEB 42.5 CALL 02/20/2015		292			58,254
A 2015 FEB 45 CALL 02/20/2015		748			98,736
AAPL 2015 JAN 105 CALL 01/17/2015		(229	)		(141,980)
AAPL 2015 JAN 105 PUT 01/17/2015		229			16,030
AAPL 2015 JAN 110 CALL 01/17/2015		(334	)		(87,842)
AAPL 2015 JAN 110 PUT 01/17/2015		393			84,692
ABB LTD SWP		(9,637	)		(2,748)
ABENGOA DFT 500 03/20/2015 CS		47,000			915
ABENGOA DFT 500 03/20/2019 CS		554,000			141,771
ABENGOA DFT 500 06/20/2019 CS		(67,000	)		(17,758)
ABENGOA SA 6.25 01/17/19 CVB SWP CITI		600,000			(20,831)
ABENGOA SA- B SHARES SWP CITI		(123,486	)		24,284
ABENGOA SA- B SHARES SWP HSBC		21,687			(14,093)
ABENGOA SA- B SHARES SWP MS		32,600			(11,125)
ABENGOA SA- B SHARES SWP SG		(8,838	)		6,609
ABERDEEN ASSET MANAGEMENT USD SWP CSFB		686			16
ABERDEEN ASSET MANAGEMENT USD SWP CSFB SHORT		(686	)		(16)
ACCESS MIDSTREAM PARTNERS LP SWP MS		(7,538	)		20,497
ACCOR SWAP		24,419			124,256
ACE LTD SWP CS SHT		(421	)		(76)
ACE LTD USD SWP CS		421			76
ACT Feb15 245 PUT		(22	)		(15,950)
ACTELION LTD REG SWP		6,649			7,716
ACTIVE BIOTECH AB SWP BOA		(285	)		(93)
ACTIVE BIOTECH AB SWP CS		(230	)		(91)
ACTIVE BIOTECH AB SWP DB		(804	)		(11)
ACTIVE BIOTECH AB SWP UBS		(3,274	)		(1,049)
ACTIVE BIOTECH AB-BTA SWP BOA		284			84
ACTIVE BIOTECH AB-BTA SWP CS		240			86
ACTIVE BIOTECH AB-BTA SWP DB		800			(8)
ACTIVE BIOTECH AB-BTA SWP UBS		3,274			929
ADIDAS AG CS SWP		2,185			(6,995)
ADMIRAL GROUP PLC SWP		(2,564	)		582
ADS GY 100 CALL 18DEC2015		54			1,111
ADS GY 2015 DEC 92 CALL 12/18/2015		76			2,621
ADS GY 2016 DEC 63 CALL 12/16/2016		31			18,663
ADS GY 2016 DEC 84 CALL 12/16/2016		15			2,559
ADT Apr15 33 PUT		(54	)		(6,426)
AEGON NV SWP		(19,995	)		(2,503)
AERCAP HLDGS SWP CS		(2,416	)		11,712
AFLAC INC USD SWP CS		935			(84)
AFLAC SWP CS SHT		(935	)		84
AFRICAN BANK INVESTMENTS LTD SWP CS		(1,630	)		—

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
AFRICAN BANK INVESTMENTS SWP BARC		1,630			(400)
AGGREKO PLC SWP		(3,179	)		3,512
AGRICULTURAL BANK OF CHINA SWP USD CS		635,406			15,535
AGRICULTURAL BANK OF CHINA-H USD SWP CS SHORT		(635,406	)		(15,535)
AIA GROUP LTD SWP DB		(12,600	)		(128)
AIA GROUP LTD SWP USD CS		8,737			727
AIA GROUP LTD USD SWP CS SHORT		(8,737	)		(727)
AIR FRANCE SWP MS		(4,890	)		7,414
AIR FRANCE SWP SG		(3,534	)		5,358
AIR FRANCE-KLM 2.03% 15FEB2013 SWP CITI		13,324			18,635
AIR FRANCE-KLM CITI SWP		(9,031	)		3,840
AIR FRANCE-KLM DFT 500 12/20/2019 CS		47,080			(1,188)
AIR FRANCE-KLM HSBC SWAP		(4,075	)		2,165
AIR FRANCE-KLM SWP		(11,799	)		(18,644)
AIR FRANCE-KLM SWP BARC		(5,379	)		10,883
AIR FRANCE-KLM SWP JPM		30,150			(7,260)
AIR FRANCE-KLM SWP SEB		(9,501	)		(24,167)
AIRBUS GROUP NV SWP		(4,357	)		(1,608)
ALCATEL LUCENT DFT 500 03/20/2019 CITI		118,000			(15,138)
ALCATEL LUCENT DFT 500 03/20/2019 CS		383,000			(49,133)
ALCATEL LUCENT DFT 500 12/20/2019 CS		400,000			(49,896)
ALCATEL LUCENT DFT 500 12/20/2019 JPM		24,000			(2,994)
ALCATEL LUCENT DFT 500 12/20/2019 NOMURA		228,000			(28,441)
ALCATEL-LUCENT 0.125 01/30/20 SWP CITI		96,100			64,911
ALCATEL-LUCENT 4.25 SWP CITI		641,786			346,848
ALCATEL-LUCENT SWP		160,125			13,825
ALCATEL-LUCENT SWP CITI		(710,890	)		(460,198)
ALCATEL-LUCENT SWP CS		(80,332	)		(21,541)
ALIBABA GROUP HOLDING SWP BOA		(25,487	)		(31,062)
ALIBABA GROUP HOLDING SWP JEF		(5,786	)		45,034
ALIBABA GROUP HOLDING-SP ADR SWP CITI		(1,946	)		12,916
ALLIANZ SE-REG USD SWP CS		591			(2,116)
ALLIANZ SE-REG USD SWP CS SHORT		(591	)		2,116
ALPS ELECTRIC CO LTD CS JPY SWP		(10,600	)		(46,564)
ALPS ELECTRIC CO LTD L+70 ASW 25MAR19 MIZ		20,000,000			64,518
ALSTOM SWP		39,323			(18,254)
ALUFP 0% 01/19 SWP CITI		313,040			185,563
AMERICAN AIRLINES GRP SWP CS		41,463			1,616,308
AMERICAN FINANCIAL GROUP USD SWP CS		657			197
AMERICAN FINANCIAL GRP SWP CS SHT		(657	)		(197)
AMP LTD USD SWP CS		3,663			105
AMP LTD USD SWP CS SHORT		(3,663	)		(105)
AMR CORP SWP CS		67,089			94,082
AMR CORP SWP DB		30,885			42,975
AMTRUST FINANCIAL SERVICES SWP USD CS		113			(64)
AMTRUST FINANCIAL SWP CS SHT		(113	)		64
AMZN 2015 JAN 305 CALL 01/02/2015		10			5,750
ANA HOLDINGS INC DB JPY SWP		(86,000	)		(23,973)
ANA HOLDINGS INC MS JPY SWP		(57,000	)		(12,233)
ANA HOLDINGS INC SWP UBS		(60,000	)		(10,767)
ANHEUSER-BUSCH INBEV NV SWP USD SG		8,264			24,627
ANHEUSER-BUSCH INBEV NV USD SWP BARC		16,210			48,306
ANHEUSER-BUSCH INBEV NV USD SWP BOA		38,068			113,442
ANHUI CONCH CEMENT A USD SWP UBS		25,300			20,975
ANHUI CONCH CEMENT CO LTD - H SWP UBS		(4,500	)		3,170
ANHUI CONCH CEMENT CO LTD HKD SWP BAR		(19,500	)		(2,234)
ANHUI CONCH CEMENT CO LTD HKD SWP BOA		(57,000	)		(27,613)
ANHUI CONCH CEMENT CO LTD HKD SWP CITI		(10,500	)		(2,431)
ANHUI CONCH CEMENT CO LTD NOM HKD SWP		(11,000	)		8,435
ANHUI CONCH CEMENT CO LTD SWP BOA		54,000			37,599
ANHUI CONCH CEMENT CO LTD SWP USD CITI		38,000			34,295
ANHUI CONCH CEMENT CO USD SWP CS		16,500			15,476
ANTERO RESOURCES CORP SWP UBS		(2,406	)		55,703
AO WORLD PLC		72,070			(24,425)
APC 2015 FEB 82.5 CALL 02/20/2015		49			24,868
APC Jan15 95 CALL		(105	)		(2,415)
APC Jan15 97.50 CALL		(78	)		(1,092)
APD 2015 JAN 150 CALL 01/17/2015		49			3,920
ARCELORMITTAL SWP		(28,981	)		429
ARCP 2015 JAN 9 CALL 01/17/2015		463			18,520
ARISTA NETWORKS INC SWP CS		(1,972	)		45,324
ARM 500 03/20/2016 BOA		250,000			(13,809)
ARM DFT 03/20/2019 500 CITI		125,000			(14,940)
ARM DFT 500 03/20/2016 BOA 4		50,000			(2,762)
ARM DFT 500 03/20/2019 BARC		100,000			(11,952)
ARM DFT 500 03/20/2019 BOA 5		125,000			(14,940)
ARMSTRONG WOLRD INDUSTRIES SWP UBS		5,787			(23,886)
ARMSTRONG WORLD INDUSTRIES SWP CS		12,453			(43,122)
ARMSTRONG WORLD INDUSTRIES SWP MS		10,141			(43,765)
ASAHI BREWERIES MS JPY SWP		2,300			538
ASAHI BREWERIES UBS JPY SWP		13,600			8,792
ASPS Apr15 45 PUT		(51	)		(70,635)
ASTRA INTERNATIONAL TBK PT USD SWP BOA		(11,000	)		(374)
ASTRA INTERNATIONAL TBK PT USD SWP DB		(104,700	)		(461)
ASTRA INTERNATIONAL TBK PT USD SWP JPM		(28,500	)		523
ASTRA INTERNATIONAL TBK PT USD SWP MACQ		(24,600	)		(666)
AT&T INC SWP BOA		(17,275	)		(15,021)
AT&T INC SWP CS		(9,829	)		24,124

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
ATML 2015 JAN 8 CALL 01/17/2015		97			5,335
AUD/USD FWD 01-07-2015		40,817			514
AUDUSD CRNCY FUT MAR15		(3	)		3,405
AUST 3YR BOND FUT MAR15		—			(116,857)
AUST AND NZ BANKING GROUP USD SWP CS		4,424			1,798
AUST AND NZ BANKING GROUP USD SWP CS SHORT		(4,424	)		(1,798)
AUSTRALIAN DOLLAR SPOT		(3,245	)		(2,652)
AUTONATION INC SWP CS		2,399			16,408
AUTOZONE INC UBS		(174	)		(15,783)
AVB DFT 100 03/20/2015 BARC		500,000			(987)
AVIVA PLC SWP		262,256			(77,541)
AVIVA PLC USD SWP CS		1,631			(309)
AVIVA PLC USD SWP CS SHORT		(1,631	)		309
AVP 2015 APR 12 CALL 04/17/2015		389			10,698
AVP 2015 APR 9 PUT 04/17/2015		191			15,758
AXA SA USD SWP CS		7,708			(3,351)
AXA SA USD SWP CS SHORT		(7,708	)		3,351
B&M EUROPEAN VALUE RETAIL SA		168,550			15,670
B&M EUROPEAN VALUE RETAIL SA SWP		136,589			780
BA 2015 FEB 120 PUT 02/20/2015		51			6,528
BA 2015 FEB 125 PUT 02/20/2015		51			12,011
BABA US 2015 JAN 99 PUT 01/17/2015		97			10,913
BABCOCK INTL GRP PLC SWP		(6,847	)		9,283
BAC 2016 JAN 20 CALL 01/15/2016		104			8,892
BAE SYSTEMS PLC SWP		126,594			35,690
BALOISE HOLDING R USD SWP CS		1,329			(1,815)
BALOISE HOLDING R USD SWP CS SHORT		(1,329	)		1,815
BAML JP EXPORT BASKET JPY SWP BOA		8			5,484
BANCO BILBAO VIZCAYA ARGENTARIA USD SWP CS		19,203			(5,418)
BANCO BILBAO VIZCAYA ARGENTARIA USD SWP CS SHORT		(19,203	)		5,418
BANCO BRADESCO S.A. SWP CITI USD		(3,209	)		4,221
BANCO BRADESCO S.A. SWP MS USD		(5,157	)		6,899
BANCO DE SABADELL SA SWP		(61,765	)		(1,027)
BANCO ESPIRITO DFT 500 06/20/2015 JPM		78,000			—
BANCO ESPIRITO DFT 500 06/20/2015 MS		71,000			202
BANCO ESPIRITO DFT 500 12/20/2015 MS		97,000			—
BANCO POPOLARE SPA USD SWP CS		422			53
BANCO POPOLARE SPA USD SWP CS SHORT		(422	)		(53)
BANCO SANTANDER SWP USD CS		40,984			(9,535)
BANCO SANTANDER SWP USD CS SHORT		(40,984	)		9,535
BANK NIFTY NSE JAN15 INR FUT SWP CITI (X25)		(100	)		(412)
BANK NIFTY NSE JAN15 INR FUT SWP UBS (X25)		(225	)		(936)
BANK OF AMERICA CORP-WRTS 01/16/19		(17,975	)		(125,825)
BANK OF AMERICA SWP CS SHT		(47,536	)		(12,835)
BANK OF CHINA -A SHS CITI USD SWP		198,000			33,380
BANK OF CHINA HKD SWP JPM		153,000			(90)
BANK OF CHINA LTD-A USD SWP BOA		(6,200	)		(624)
BANK OF CHINA LTD-A USD SWP NOM		(247,000	)		(30,125)
BANK OF CHINA LTD-A USD SWP UBS		(86,495	)		(7,512)
BANK OF COMMUNICATION SWP UBS		72,900			27,067
BANK OF COMMUNICATIONS CO USD CS		141,404			8,010
BANK OF COMMUNICATIONS CO-A USD SWP MS		418,000			36,913
BANK OF COMMUNICATIONS CO-H USD SWP CS SHORT		(141,404	)		(8,010)
BANK OF IRELAND USD SWP CS		(1,014,490	)		5,851
BANK OF IRELAND-SPONS ADR SWP CS		24,827			(13,127)
BANK OF QUEENSLAND LTD SWP USD CSFB		2,137			302
BANK OF QUEENSLAND LTD SWP USD CSFB SHORT		(2,137	)		(302)
BANKAMERICA CORP SWP CSFB 1		47,536			12,835
BANKIA SA SWP		(153,335	)		7,489
BANKIA SA USD SWP CS		11,980			(623)
BANKIA SA USD SWP CS SHORT		(11,980	)		623
BARC LN 2015 FEB 250 CALL 02/20/2015		205			17,571
BARCLAYS PLC SWP		603,896			109,101
BARCLAYS USD SWP CSFB		12,023			938
BARCLAYS USD SWP CSFB SHORT		(12,023	)		(938)
BASF SE SWP		(11,211	)		22,015
BAYER AG SWP		2			9
BAYERISCHE MOTOREN WERKE AG SWP		(5,518	)		(9,399)
BAYN GY 2015 MAR 110 CALL 03/20/2015		37			32,416
BB SEGURIDADE PARTICIPACOES USD SWP CS		2,775			1,146
BB SEGURIDADE PARTICIPACOES USD SWP CS SHORT		(2,775	)		(1,146)
BEIJING YANJING BREWERY JPM USD SWP		12,200			1,372
BEIJING YANJING BREWERY UBS USD SWP		33,100			4,031
BEIJING YANJING BREWERY USD SWP DB		97,800			16,245
BEIJING YANJING BREWERY USD SWP SG		81,000			12,012
BENDIGO AND ADELAIDE BANK USD SWP CS		5,324			891
BENDIGO AND ADELAIDE BANK USD SWP CS SHORT		(5,324	)		(891)
BENI STABILI SPA 3.375 01/17/2018 SWP CITI		300,000			9,039
BENI STABILI SPA DFT 500 3/20/2018 BARC		100,000			(14,903)
BENI STABILI SPA DFT 500 3/20/2018 MS		100,000			(14,903)
BENI STABILI SPA SWP CITI		(231,612	)		(8,316)
BERKSHIRE HATHAWAY CL B SWP CSFB		2,550			(3,596)
BERKSHIRE HATHAWAY-B SWP CS SHT		(2,550	)		3,596
BES FINANCE LTD 3 05/19/2015 CVB SWP CITI		150,000			3,903
BES FINANCE LTD 3.5 12/06/2015 CVB SWP CITI		500,000			4,574
BHARAT HVY ELECTRC JAN15 INR FUT SWAP (X1K)		(18,000	)		(879)
BHARAT HVY ELECTRC JAN15 INR FUT SWP MS (X1K)		(22,000	)		(260)
BHP BILLITON DFT 100 20SEP15 DB		300,000			(1,953)

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
BKS 2015 JAN 8 PUT 01/17/2015		350			875
BLND LN 2015 JUN 740 CALL 06/19/2015 BLCEAR		13			11,041
BM&F BOVESPA SA SWP USD CS		3,320			540
BM&F BOVESPA SA SWP USD CS SHORT		(3,320	)		(540)
BNP PARIBAS USD SWP CSFB		2,245			447
BNP PARIBAS USD SWP CSFB SHORT		(2,245	)		(447)
BOC HONG KONG HLDGS SWP USD CS		4,647			598
BOC HONG KONG HOLDINGS LTD USD SWP CS SHORT		(4,647	)		(598)
BOLLORE SWP BARC		(40,750	)		3,454
BOLLORE SWP BOA		(8,200	)		(1,694)
BOLLORE SWP CITI		(3,260	)		419
BOLLORE SWP JPM		(16,200	)		1,972
BOLLORE SWP MS		(30,100	)		(2,195)
BOLLORE SWP SG		(7,200	)		1,399
BOLLORE SWP UBS		(7,803	)		1,752
BORA BORA RSRCES LTD FREE OPTIONS K=0.40 03/31/17		9,715			121
BOUYGUES SA SWP		22,830			60,911
BP CURRENCY FUT MAR15		(10	)		7,625
BPIM DFT 500 20MAR2015 JPM		200,000			(2,387)
BRAZIL REAL Forward		1,418,357			6,015
BRENT CRUDE FUTR DEC15		—			(69,606)
BRENT CRUDE FUTR DEC16		—			593
BRENT CRUDE FUTR FEB15		—			(9,503)
BRENT CRUDE FUTR JUN15		—			(29,342)
BRENT CRUDE FUTR JUN16		—			4,627
BRENT CRUDE FUTR MAR16		—			347,904
BRENT CRUDE FUTR SEP15		—			394,060
BRITISH AMERICAN TOBACCO PLC SWP		(3,396	)		7,930
BRITISH LAND CO SWP CSFB		13,449			17,545
BRITISH POUNDS SPOT		8,124			12,654
BURLINGTON STORES INC SWP MS		(5,526	)		(17,438)
BURSON GROUP LTD AUD SWP UBS		65,809			29,421
BUWOG SWP JPM		(452	)		(697)
BZH 2015 JAN 22 CALL 01/17/2015		(4	)		(20)
BZH 2015 JAN 22 PUT 01/17/2015		4			1,040
BZH DFT 500 06/20/2018 JPM		250,000			(17,348)
CA IMMOBILIEN ANLAGEN AG SWP CS		1,630			(254)
CAC40 10 EURO FUT JAN15		(13	)		(33,589)
CAIXABANK 4.5 11/22/2016 SWP CITI		1,000,000			(70,198)
CAIXABANK DFT 100 12/20/2016 JPM		100,000			(1,077)
CAIXABANK SWP		(52,680	)		(3,369)
CAN 10YR BOND FUT MAR15		—			(7,209)
CANADIAN DOLLAR Forward		2,650,000			(17,035)
CANADIAN NATL RAILWAY CO SWP CS		(5,719	)		(86,225)
CAPITAL ONE FINL CORP CSFB SWP USD		668			80
CAPITAL ONE FINL SWP CS SHT		(668	)		(80)
CARNIVAL CORP SWP CS		(1,542	)		(8,139)
CATHAY FINANCIAL SWP USD MS		(122,000	)		17,523
CCI.N 2015 JAN 80 CALL 01/17/2015		39			3,218
CCL SWAP MS		(1,571	)		(8,835)
CDS EUR 1.00000 1% 20 Dec 2019		2,600,000			(49,963)
CDS EUR P F 1.00000 1% 20 Dec 2019		200,000			(5,585)
CDS EUR P F 1.00000 1% 20 Mar 2020		200,000			(5,608)
CDS EUR R V 03MEVENT 1% 20 Dec 2019		400,000			11,337
CDS USD P F .51000 0.51% 20 Mar 2018		254,000			(3,537)
CDS USD P F .94000 0.94% 20 Jun 2017		363,000			(5,113)
CDS USD P F 1.00000 1% 20 Sep 2015		102,000			(734)
CDS USD P V 03MEVENT 1% 20 Jun 2019		800,000			(10,424)
CDS USD P V 03MEVENT 1% 20 Mar 2019		3,500,000			(34,517)
CDS USD P V 03MEVENT 1% 20 Sep 2019		200,000			(1,549)
CDW CORP/DE SWP UBS		(2,215	)		(12,632)
CDX NA HY SER 22 500 06/20/2019 ICE		2,016,630			(137,383)
CDX NA HY SER 23 500 12/20/2019 ICE		760,000			(47,121)
CDX.O P 1.00 IG23 5Y MAR15 1 PUT		(2,400,000	)		(1,740)
CGG SWP BARC		(408	)		777
CGG SWP HSBC		6,933			(18,941)
CGG SWP JPM		(1,223	)		3,633
CGG SWP SG		(5,302	)		14,096
CHEUNG KONG HOLDINGS CITI HKD SWP		(6,000	)		4,505
CHEUNG KONG HOLDINGS HKD SWP BNP		(2,000	)		622
CHEUNG KONG HOLDINGS HKD SWP BOA		(8,000	)		5,283
CHEUNG KONG HOLDINGS HKD SWP DB		(10,000	)		(796)
CHEUNG KONG HOLDINGS HKD SWP HSBC		(4,000	)		4,273
CHEUNG KONG HOLDINGS SWP JPM		(10,000	)		4,100
CHEUNG KONG HOLDINGS UBS HKD SWP		(4,000	)		(1,254)
CHF/USD FWD 01-21-2015 LONG		200,000			(2,755)
CHF/USD FWD 01-21-2015 SHORT		(204,048	)		—
CHIAN EVERBRIGHT LTD SWP USD CS		3,763			455
CHINA CITIC BANK CORP LTD SWP USD CS		103,356			4,523
CHINA CITIC BANK CORP LTD-A USD SWP MS		378,400			76,684
CHINA CITIC BANK CORP LTD-H USD SWP CS SHORT		(103,356	)		(4,523)
CHINA CNR CORP HSBC USD SWP		12,800			3,635
CHINA CNR CORP UBS USD SWP		71,300			19,372
CHINA CONSTRUCTION BANK HKD SWP CS		(88,000	)		(4,747)
CHINA CONSTRUCTION BANK HKD SWP DB		(72,000	)		(3,642)
CHINA CONSTRUCTION BANK H-SHRS SWP USD CS		633,382			20,366
CHINA CONSTRUCTION BANK-A USD SWP UBS		(99,000	)		(13,505)
CHINA CONSTRUCTION BANK-H USD SWP CS SHORT		(633,382	)		(20,366)

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
CHINA EVERBRIGHT BANK CO-A USD SWP CS		228,300			56,606
CHINA EVERBRIGHT BANK CO-A USD SWP MS		619,900			67,810
CHINA EVERBRIGHT BANK CO-A USD SWP SG		3,000			905
CHINA EVERBRIGHT LTD USD SWP CS SHORT		(3,763	)		(455)
CHINA HUISHAN DAIRY HOLDINGS HKD SWP BOA		(757,000	)		43,727
CHINA HUISHAN DAIRY HOLDINGS HKD SWP NOM		(213,000	)		9,783
CHINA INTERNATIONAL TRAVEL-A USD SWP BNP		22,200			18,041
CHINA INTERNATIONAL TRAVEL-A USD SWP BOA		32,100			28,337
CHINA INTERNATIONAL TRAVEL-A USD SWP CITI		18,500			26,200
CHINA INTERNATIONAL TRAVEL-A USD SWP CS		39,200			67,714
CHINA INTERNATIONAL TRAVEL-A USD SWP DB		30,900			38,445
CHINA INTERNATIONAL TRAVEL-A USD SWP HSBC		56,500			67,213
CHINA INTERNATIONAL TRAVEL-A USD SWP JPM		42,400			31,586
CHINA INTERNATIONAL TRAVEL-A USD SWP MS		14,400			12,245
CHINA INTERNATIONAL TRAVEL-A USD SWP SG		3,300			3,061
CHINA INTERNATIONAL TRAVEL-A USD SWP UBS		87,300			76,896
CHINA LIFE HKD SWP CS		(71,000	)		(30,604)
CHINA LIFE INSURANCE CO-A USD SWP BOA		(2,400	)		(253)
CHINA LIFE INSURANCE CO-A USD SWP MS		(12,400	)		(15,226)
CHINA LIFE SWP HKD SWAP BOA		(98,000	)		(32,902)
CHINA LIFE SWP HKD SWAP DB		(113,000	)		(56,725)
CHINA LIFE SWP HKD SWAP JPM		(39,000	)		(18,611)
CHINA LIFE SWP HKD SWAP NOMURA		(27,000	)		(14,879)
CHINA MEDICAL TECH-SPON ADR SWP CS		(9,062	)		91
CHINA MENGNIU DAIRY CO HKD SWP BNP		(47,000	)		(8,173)
CHINA MENGNIU DAIRY CO HKD SWP CS		(33,000	)		14,835
CHINA MENGNIU DAIRY CO HKD SWP DB		(19,000	)		2,540
CHINA MERCHANTS BANK - H SWAP BARC		(31,000	)		(16,167)
CHINA MERCHANTS BANK - H SWAP BNP		(26,000	)		(20,383)
CHINA MERCHANTS BANK - H SWP HKD HSBC		(35,500	)		(18,486)
CHINA MERCHANTS BANK SWP DB		(33,000	)		(19,308)
CHINA MERCHANTS BANK SWP USD CS		65,030			17,258
CHINA MERCHANTS BANK - H USD SWP CS SHORT		(65,030	)		(17,258)
CHINA MINSHENG BANKING - H-SHRS USD SWP CS SHORT		(385,134	)		(50,606)
CHINA MINSHENG BANKING SWP USD CS		385,134			50,606
CHINA MINSHENG BANKING-A USD SWP BOA		(12,400	)		(545)
CHINA OVERSEAS LAND & INVEST HKD SWP BOA		(11,100	)		(1,079)
CHINA OVERSEAS LAND & INVESTMENTS HSBC HKD SWP		(148,000	)		(34,852)
CHINA PACIFIC INSURANCE GR-H USD SWP CS SHORT		(21,756	)		(13,455)
CHINA PACIFIC INSURANCE GRP SWP USD CS		21,756			13,455
CHINA PACIFIC INSURANCE USD SWP BOA		14,200			36,410
CHINA PACIFIC INSURANCE USD SWP CS		11,500			27,529
CHINA PACIFIC INSURANCE USD SWP HSBC		200			469
CHINA PACIFIC INSURANCE USD SWP JPM		20,200			43,732
CHINA PETROLEUM & CHEM ADR DB SWP USD EXP		220			(1,378)
CHINA PETROLEUM & CHEM ADR JPM SWP USD EXP		5,201			(7,786)
CHINA PETROLEUM & CHEMICAL JPM HKD SWP		42,895			(876)
CHINA PETROLEUM & CHEMICAL-A USD SWP BOA		(7,600	)		(220)
CHINA PETROLEUM & CHEMICAL-A USD SWP UBS		(35,000	)		(7,405)
CHINA RENMINBI Forward		6,290,000			10,137
CHINA RESOURCES LAND LTD HKD SWP BOA		(114,000	)		(13,364)
CHINA SHENHUA ENERGY CO - HKD SWP CITI		(9,000	)		(4,166)
CHINA SHENHUA ENERGY CO - HKD SWP CS		(33,500	)		6,388
CHINA SHENHUA ENERGY CO - HKD SWP JPM		(31,500	)		(1,828)
CHINA SHENHUA ENERGY CO - HKD SWP MACQ		(16,500	)		(1,065)
CHINA SHENHUA ENERGY CO - HKD SWP UBS		(12,000	)		(177)
CHINA SHENHUA ENERGY CO -A USD SWP DB		41,400			23,179
CHINA SHENHUA ENERGY CO -A USD SWP JPM		54,400			46,202
CHINA SHENHUA ENERGY CO -A USD SWP UBS		3,700			2,882
CHINA SHENHUA ENERGY CO A-SHS SWP CS		39,200			20,022
CHINA SHENHUA ENERGY CO SWP BOA		28,400			27,013
CHINA SHENHUA ENERGY DB HKD SWP		(35,500	)		7,153
CHINA STEEL CORP		(789,054	)		2,656
CHINA UNICOM HONG KONG LTD HKD SWP BOA		(204,000	)		29,297
CHINA UNICOM HONG KONG LTD HKD SWP NOM		(56,000	)		5,734
CHINA VANKE CO LTD-A USD SWP BOA		132,100			103,572
CHINA VANKE CO LTD-A USD SWP CITI		46,600			45,827
CHINA VANKE CO LTD-A USD SWP CS		95,300			55,792
CHINA VANKE CO LTD-A USD SWP DB		195,300			150,364
CHINA VANKE CO LTD-A USD SWP MS		75,800			51,662
CHINA VANKE CO LTD-A USD SWP SG		44,100			29,725
CHINA VANKE CO LTD-A USD SWP UBS		75,600			56,464
CHINA VANKE CO LTD-H HKD SWP SG		(36,400	)		(14,397)
CHINA VANKE CO LTD-H SWP BOA		(9,900	)		(4,234)
CIE FINANCIERE RICHEMONT SWP		(1,620	)		(13,726)
CIEN 2015 JAN 20 CALL 01/17/2015		19			561
CIMB GROUP HOLDINGS BHD USD SWP CSFB		2,947			(20)
CIMB GROUP HOLDINGS BHD USD SWP CSFB SHORT		(2,947	)		20
CITIC SECURITIES CO LTD SWP USD CS		98,312			5,033
CITIC SECURITIES CO LTD-H HKD SWP MS		(40,500	)		(5,807)
CITIC SECURITIES CO LTD-H USD SWP CS SHORT		(98,312	)		(5,033)
CITIC SECURITIES CO-A USD SWP BOA		(4,900	)		(96)
CITIGROUP SWP CS		3,256			326
CITIGROUP SWP CS SHT		(3,256	)		(326)
CLP HOLDINGS LTD HKD SWP BOA		(6,500	)		(3,844)
CLP HOLDINGS LTD HKD SWP HSBC		(4,000	)		(1,509)
COAL INDIA LTD JAN15 INR FUT SWP BOA (X1K)		(10,000	)		923
COAL INDIA LTD JAN15 INR FUT SWP MACQ (X1K)		(12,000	)		1,802

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
COAL OF AFRICA LTD SWP		756,454			(133,118)
COAL OF AFRICA LTD SWP CSFB		50,910			(57,578)
COCHLEAR LTD		(16,208	)		(231,414)
COCOA FUTURE MAR15		—			(5,963)
COCOA FUTURE MAY15		—			(12,164)
COCOA FUTURE - ICEMAR15		—			624
COFFEE C FTR OPTN MAR15 190 CALL		(75,000	)		(1,680)
COM FWD JETNWECO 1Q15		3,000			(8,930)
COM FWD NAPCO 1Q15		3,000			(3,234)
COMMERZBANK AG USD SWP CS		36,683			(2,366)
COMMERZBANK AG USD SWP CS SHORT		(36,683	)		2,366
COMMSCOPE HOLDING CO INC SWP CS		(3,158	)		(2,480)
CONSUMER STAPLES SPDR SWP BOA		(34,443	)		9,300
CONSUMER STAPLES SPDR SWP CSFB		(16,031	)		(73,559)
COOKPAD INC DB JPY SWP		5,600			12,145
COP 2015 JAN 77.5 CALL 01/17/2015		581			3,486
CORN FTR OPTN FEB15 435 CALL		(65,000	)		(975)
CORN FTR OPTN MAR15 370 PUT		(90,000	)		(4,838)
CORN FUTURE MAR15		—			(6,298)
COSMO PHARMACEUTICALS SPA SWP BOA		82			(176)
COTTON NO.2 FUTR MAR15		—			(917)
COUNTRYWIDE PLC		79,965			(95,288)
CP ALL PCL-NVDR USD SWP BOA		(219,100	)		30,324
CREDIT AGRICOLE SA USD SWP CSFB		7,087			195
CREDIT AGRICOLE SA USD SWP CSFB SHORT		(7,087	)		(195)
CROWN CASTLE INTL CORP SWP BOA		2,400			7,728
CROWN CASTLE INTL CORP SWP CS		7,920			23,398
CS PRIME RMBS 2010-1 DFT 07/20/2047 CS		(258,742	)		2,590
CSI 300 INDEX DB USD MKT INDEX SWP		(3,314	)		(753,915)
CSOP FTSE CHINA A50 ETF-RMB QFII CREATION UBS HKD		1,331,800			914,685
CSR CORP LTD CS HKD SWP		(76,000	)		(45,948)
CSR CORP LTD DB HKD SWP		(86,000	)		(48,664)
CTL SWAP CS USD		3,296			(6,757)
CTRP 2015 JAN 10 PUT 01/17/2015		289			723
CTRP 2015 JAN 8 PUT 01/17/2015		109			273
CTRP 2015 JUN 50 CALL 06/19/2015		169			76,050
CTRP 2016 JAN 20 PUT 01/15/2016		273			27,300
CTXS 2016 JAN 80 CALL 01/15/2016		38			9,880
CTXS 2016 JAN 90 CALL 01/15/2016		13			1,560
CVX.N 2015 JAN 120 CALL 01/17/2015		195			1,853
CX US 2015 JAN 4.63 PUT 01/17/2015		326			704
CX US 2016 JAN 4.81 PUT 01/15/2016		38			751
CY 2015 JAN 14 CALL 01/17/2015		396			24,750
CYS CHF R V 03MLIBOR 1% 15 Dec 2016		(21,891	)		(39,762)
CYS JPY R V 03MLIBOR 1% 10 Feb 2016		227,195,122			—
CYS USD P V 03MLIBOR 1% 15 Dec 2016		(32,836	)		(59,618)
CYS USD P V 03MLIBOR 1% 17 Jun 2017		(22,022	)		(18,224)
CYS USD P V 03MLIBOR 1% 17 Jun 2020		(2,228,328	)		(460,607)
CYS USD R V 03MLIBOR 1% 10 Feb 2016		(227,195,122	)		880,632
D/S NORDEN SWP MS		570			(1,173)
D/S NORDEN SWP SEB		(570	)		1,173
DAEWOO SHIPBUILDING & MARINE USD SWP BOA		410			(4,928)
DAEWOO SHIPBUILDING & MARINE USD SWP DB		1,109			(7,680)
DAEWOO SHIPBUILDING & MARINE USD SWP JPM		970			(16,766)
DAEWOO SHIPBUILDING & MARINE USD SWP MS		923			(13,408)
DAI GY 2016 JUN 62 CALL 06/17/2016		40			48,694
DAI GY 2018 DEC 44 PUT 12/21/2018		50			27,106
DAIHATSU MOTOR BNP JPY SWP		(10,100	)		1,946
DAIHATSU MOTOR CS JPY SWP		(5,500	)		(3,087)
DAIHATSU MOTOR SWP BOA		(8,000	)		1,931
DAIHATSU MOTOR SWP NOM		(13,300	)		384
DAI-ICHI LIFE INSURANCE USD SWP CS		1,217			(274)
DAI-ICHI LIFE INSURANCE USD SWP CS SHORT		(1,217	)		274
DAIMLER AG SWP		(1,891	)		(15,814)
DAIMLER SWP CS		(1,979	)		(2,958)
DAQIN RAILWAY CO LTD - A USD SWP BOA		46,500			19,461
DAQIN RAILWAY CO LTD - A USD SWP CITI		130,600			74,646
DAQIN RAILWAY CO LTD - A USD SWP CS		174,987			100,213
DAQIN RAILWAY CO LTD - A USD SWP DB		128,100			61,867
DAQIN RAILWAY CO LTD - A USD SWP MS		105,000			57,729
DAQIN RAILWAY CO LTD - A USD SWP SG		58,400			29,464
DAQIN RAILWAY CO LTD - A USD SWP UBS		72,000			39,096
DAQIN RAILWAY CO LTD - A HSBC USD SWP		66,900			32,934
DAUM KAKAO CORP BNP USD SWP		(371	)		6,609
DAUM KAKAO CORP DB USD SWP		(213	)		3,322
DAUM KAKAO CORP JPM USD SWP		(127	)		2,228
DAUM KAKAO CORP USD SWP		(956	)		9,567
DAUM KAKAO CORP USD SWP BOA		(520	)		14,014
DAUM KAKAO CORP USD SWP CS		(1,736	)		36,751
DAUM KAKAO CORP USD SWP MS		(563	)		16,817
DAUM KAKAO CORP USD SWP NOM		(932	)		31,219
DAUM KAKAO CORP USD SWP UBS		(526	)		18,563
DAX 2015 JAN 10200 CALL 01/16/2015		49			8,835
DAX 2015 JAN 9600 PUT 01/16/2015		15			8,322
DAX INDEX FUTURE MAR15		(5	)		(54,716)
DBS GROUP HOLDINGS LTD USD SWP CS		875			367
DBS GROUP SWP USD CS SHT		(875	)		(367)
DCP MIDSTREAM PARTNERS LP JPM SWAP		(2,919	)		14,036

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
DD 2015 JAN 74.5 CALL 01/17/2015		503			46,276
DELPHI AUTOMOTIVE PLC SWP CS		1,070			14,648
DERWENT CAP JERSEY LTD 2.75 07/15/2016 SWP CITI		400,000			29,698
DERWENT LONDON PLC CITI SWP		(14,920	)		(12,119)
DERWENT LONDON PLC SWP CSFB		(421	)		(358)
DEUTSCHE BANK AG-REGISTERED SWP		(7,064	)		932
DEUTSCHE LUFTHANSA-REG SWP		(20,845	)		(19,100)
DEUTSCHE WOHNEN AG 0.5 20 SWP CITI		100,000			19,404
DEUTSCHE WOHNEN AG 0.875 21 SWP CITI		100,000			13,372
DEUTSCHE WOHNEN AG SWP CITI		(5,426	)		(7,393)
DHR.N 2015 JAN 85 CALL 01/17/2015		204			34,680
DIRECT LINE INSURANCE GROUP SWP		246,122			100,238
DISCOVER FINANCIAL SWP CSFB		4,760			1,904
DISCOVER SWP CS SHT		(4,760	)		(1,904)
DISH ECHOSTAR CORP-A SWP UBS		44,359			418,468
DISH NETWORK CORP-A SWP CS		31,134			295,558
DJ EURO STOXX AUTOMOBILES/ PARTS (PRX) IDX CS SWP		(108	)		(1,655)
DJ EUROPE ST INSUR INDEX MS SWP		(859	)		(20,601)
DJ EUROSTOXX 600 INDEX DB SWAP		(715	)		(10,702)
DJ STOXX 600 BANK DB SWP EUR		(464	)		270
DJ STOXX 600 HEALTH DB SWP EUR		(311	)		(14,546)
DJ STOXX 600 IGS JPM SWP EUR		(69	)		(1,886)
DLF LIMITED MS USD SWP		25,261			(21,928)
DLF LIMITED USD SWP JPM		2,513			(3,287)
DLTR 2015 JAN 67.5 PUT 01/17/2015		40			2,000
DNB ASA SWP USD CS SHT		(272	)		86
DNB ASA USD SWP CSFB		272			(86)
DONGFENG MOTOR GRP CO LTD-HKD SWP DB		(28,000	)		407
DOV 2015 JAN 70 PUT 01/17/2015		64			5,440
DOW 2015 JAN 45 PUT 01/30/2015		117			14,859
DOW 2015 JAN 48 CALL 01/17/2015		195			4,388
DOW 2015 JAN 52.5 CALL 01/17/2015		193			193
DPW GY 2015 DEC 28 CALL 12/18/2015		300			64,801
DPW GY 2016 JUN 24 CALL 06/17/2016		112			54,348
DPW GY 2017 DEC 20 PUT 12/15/2017		45			10,836
DUFRY 2 06/18/15 SWP CS		400,000			55,967
DUFRY AG-REG SWP CS		(2,632	)		(56,369)
DYN.NEGY INC-CW17 K=40 10/02/17		65,473			271,386
EAST JAPAN RAILWAY CO BOA JPY SWP		(1,000	)		(3,669)
EAST JAPAN RAILWAY CO JPY SWP JPM		(1,000	)		(2,525)
EAST JAPAN RAILWAY CO JPY SWP NOM		(900	)		(2,186)
EASYJET PLC SWP		(8,993	)		(5,116)
ECOPETROL SA-SPONSORED ADR CS SWAP		(1,852	)		42,986
EDP-ENERGIAS DE PORTUGAL SA SWP CITI		(6,687	)		553
ELECTRA PRIVATE EQUITY 5 12/29/2017 SCU CITI		181			45,067
ELECTRA PRIVATE EQUITY PLC SWP CITI		(8,490	)		(46,252)
ENIRO AB SWP BARC		(7,610	)		4,836
ENIRO AB SWP BOA		(884	)		615
ENIRO AB SWP CITI		(2,445	)		1,324
ENIRO AB SWP HSBC		8,689			(2,659)
ENIRO AB SWP MS		(5,704	)		2,678
ENIRO AB SWP SEB		(2,850	)		316
ENIRO AB SWP SG		10,804			(5,846)
ENTERPRISE INNS PLC		234,548			(48,168)
EOP DFT 100 03/20/2017 CITI		2,500,000			(46,103)
EP ENERGY CORP-CL A SWP JPM		(14,945	)		151,427
EQR DFT 100 03/20/2015 JPM		500,000			(899)
ETFC 2015 APR 25 CALL 04/17/2015		97			13,629
ETFC Apr15 24 CALL		(409	)		(79,346)
EUR FX 06/24/15 FWD (BRC)		(6,450,000	)		265,772
EUR FX 07/15/15 FWD (ERIC) -SC		(200,000	)		6,441
EUR FX 07/22/15 FWD (ESSM) -SC		(1,670,000	)		53,756
EUR FX 2/18/15 FWD (JA)		(553,720	)		86,419
EUR FX 2/19/15 FWD (JALC)		(7,099,063	)		921,679
EUR FX 4/22/15 FWD (BNLC) - MA		(240,000	)		20,853
EUR FX 4/23/15 FWD (BN) - MACR		(550,000	)		47,791
EUR FX 4/24/15 FWD (DNC)		(375,000	)		15,176
EUR FX 6/23/15 FWD (BCLC)		(2,990,000	)		115,558
EUR FX 6/25/15 FWD (BCBN)		(3,560,000	)		149,940
EURO BUXL 30Y BND MAR15		—			1,573
EURO FX CURR FUT MAR15		(47	)		201,266
EURO MILL WHT OPT MAR15 185 CALL		(300	)		(6,556)
EURO MILL WHT OPT MAR15 185 PUT		(300	)		(657)
EURO-BOBL FUTURE MAR15		5			10,298
EURO-BUND FUTURE MAR15		—			678
EURO-OAT FUTURE MAR15		(1	)		(194)
EUROPEAN MONETARY UNIT Forward		200,000			(3,096)
EUROPEAN MONETARY UNIT SPOT		2,701			3,268
EVK GR 2016 DEC 20 PUT 12/16/2016		143			20,592
EVONIK INDUSTRIES AG SWP		(1,887	)		(1,149)
EXELON CORP 6.5 CVB PFD SWP BOA		(2,627	)		(5,333)
EXELON CORP SWP BOA		5,911			22,514
EXELON CORP SWP CITI		55			277
EXOR SPA USD CS SWP		1,066			(1,165)
EXOR SPA USD CS SWP SHORT		(1,066	)		1,165
FANUC CORP USD SWP NOM		(1,500	)		13,343
FANUC LTD MACQ USD SWP		(2,400	)		15,978
FAST RETAILING MACQ USD SWP		(2,700	)		(16,518)

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
FAST RETAILING NOMURA USD SWP		(500	)		(8,909)
FB.N 2015 JAN 80 CALL 01/02/2015		49			221
FB.N 2015 JAN 80 CALL 01/17/2015		195			16,575
FEYE 2015 JAN 33.5 CALL 01/02/2015		49			245
FEYE 2015 JUN 35 CALL 06/19/2015		68			24,480
FEYE 2015 JUN 45 CALL 06/19/2015		(67	)		(9,380)
FIAT CHRYSLER AUTOMOBILES NV SWP CS		68,242			27,297
FIAT CHRYSLER AUTOMOBILES NV SWP JPM		35,350			11,978
FIAT CHRYSLER AUTOMOBILES NV SWP SG		(35,350	)		(11,978)
FNF US 2015 JAN 32 CALL 01/17/2015		97			26,918
FOMENTO DE CONSTRUC Y CONTRA SWP		82,128			83,505
FORTESCUE METALS GROUP LTD AUD SWP CS		(32,052	)		575
FORTESCUE METALS GROUP LTD AUD SWP JPM		(29,189	)		44,707
FRANKLIN RESOURCES INC USD SWP CS		174			(230)
FRANKLIN RESOURCES SWP CS SHT		(174	)		230
FRANSHION PROPERTIES CHINA HKD SWP JPM		(66,000	)		185
FREESCALE SEMICONDUCTOR LTD SWP BARC		(3,892	)		(2,239)
FRESENIUS AG		(3,659	)		(7,162)
FTSE 100 IDX FUT MAR15		(4	)		(10,384)
FTSE 250 INDEX CS SWAP		(4	)		(6,498)
FTSE 250 INDEX SWP BOA		(6	)		(1,990)
FTSE 250 INDEX UBS SWP		(10	)		(4,438)
FTSE CHINA A50 JAN15		(194	)		(245,998)
FTSE CHINA A50 TR INDEX QFII CREATION UBS USD SWP		(1,226	)		(1,276,138)
FTSE/MIB IDX FUT MAR15		(3	)		(14,685)
FUJI HEAVY INDUSTRIES USD SWP NOM		(7,100	)		(50,617)
FUJITSU LTD DFT 100 20SEP17 CITI		3,000,000			(341)
G4S PLC SWP		9,678			2,938
GABRIEL FINANCE LTD PART 2 11/26/2016 CVB SWP CITI		500,000			1,837
GALAXY ENTERTAINMENT GROUP LTD HKD SWP BOA		(11,000	)		7,660
GALAXY ENTERTAINMENT GRP HSBC HKD SWP		(25,000	)		23,444
GALAXY ENTERTAINMENT GRP MACQ HKD SWP		(22,000	)		19,465
GALAXY ENTERTAINMENT GRP NOM HKD SWP		(13,000	)		6,147
GAMMON INDIA LTD USD SWP BOA		37,799			(3,769)
GAMMON INFRASTRUCTURE PROJECTS USD SWAP DB		865,257			37,747
GASOLINE RBOB FUT APR15		—			159,523
GASOLINE RBOB FUT DEC15		—			(309,663)
GASOLINE RBOB FUT MAR15		—			(148,973)
GBP CALL/USD PUT 03/06/2015 K=1.69 OTC BOA		1,420,000			142
GBP FX 02/18/15 FWD (JA)		(319,610	)		25,486
GBP FX 02/19/15 FWD (JALC)		(2,212,121	)		141,020
GBP/USD FWD 01-15-2015 FORWARD		(624,360	)		—
GBP/USD FWD 01-15-2015 LONG		400,000			(1,097)
GCCFC 2005-GG5 G DFT 110 04/10/2037 MS		1,000,000			935,661
GECINA S.A. 2.125% 01/16 SWP CITI		5,242			132
GECINA SWP CITI		(5,511	)		4,231
GEMALTO		(7,903	)		26,777
GEMALTO HSBC SWP		3,536			26,604
GEMALTO SWP SG		(3,536	)		25,117
GENCO SHIPPING & TRADI-CW21		4,366			7,422
GILD 2015 JAN 90 CALL 01/02/2015		40			18,000
GILD Mar15 95 PUT		(54	)		(36,720)
GOLAR LNG LTD SWP CS		(374	)		9,482
GOLD 100 OZ FTR OPTN FEB15 1250 CALL		(200	)		(700)
GOLD 100 OZ FTR OPTN MAR15 1250 CALL		(100	)		(970)
GOLD 100 OZ FUTR FEB15		—			2,301
GOOGL 2015 JAN 540 CALL 01/09/2015		10			3,025
GOOGL 2015 JAN 540 CALL 01/30/2015		5			6,500
GPM STUB SWP DB ESCROW		39,428			—
GREE INC DB JPY SWP - LONG		7,200			(6,486)
GREE INC JPY SWP CS		(6,300	)		7,009
GREE INC JPY SWP MACQ LONG		3,700			(3,827)
GREE INC NOM JPY SWP		(4,600	)		1,957
GROUPE BRUXELLES LAMBERT SA SWP CS		646			(485)
GRUB 2015 JAN 40 CALL 01/17/2015		97			4,123
GRUB 2015 MAR 35 CALL 03/20/2015		49			19,600
GTECH SPA CS SWP		(726	)		(383)
GTECH SPA RTS SWP BARC		(3,980	)		—
GTECH SPA RTS SWP CS		(10,864	)		—
GTECH SPA RTS SWP JPM		6,254			—
GTECH SPA RTS SWP MS		(2,274	)		—
GTECH SPA SWP		35,371			44,940
GTECH SPA SWP BARC		(3,980	)		(1,711)
GTECH SPA SWP CITI		(3,416	)		(2,026)
GTECH SPA SWP JPM		6,254			3,571
GTECH SPA SWP MS		1,142			140
GULF KEYSTONE PETROLEUM LTD SWP BARC		16,236			(21,008)
GULF KEYSTONE PETROLEUM LTD SWP BOA		(4,382	)		1,622
GULF KEYSTONE PETROLEUM LTD SWP CITI		(5,782	)		2,410
GULF KEYSTONE PETROLEUM LTD SWP DB		(10,860	)		3,554
GULF KEYSTONE PETROLEUM LTD SWP JPM SHORT		(8,002	)		2,962
GULF KEYSTONE PETROLEUM LTD SWP SG		5,782			(2,410)
GULF KEYSTONE PETROLEUM LTD SWP UBS		(3,852	)		1,426
GULF KEYSTONE PETROLEUM SWP BNP		10,860			(3,554)
GULF MARINE SERVICES SWP		(73,075	)		35,424
HAITONG SECURITIES CO LTD-A USD SWP UBS		(34,600	)		(14,521)
HAITONG SECURITIES CO LTD-H HKD SWP		(64,400	)		(5,202)
HAITONG SECURITIES CO LTD-H HKD SWP BAR		(40,400	)		(19,519)

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
HAITONG SECURITIES CO LTD-H HKD SWP CS		(180,800	)		(13,097)
HAITONG SECURITIES CO LTD-H HKD SWP DB		(17,200	)		(15,104)
HAITONG SECURITIES CO LTD-H HKD SWP JPM		(18,800	)		1,039
HAITONG SECURITIES CO LTD-H HKD SWP MACQ		(13,600	)		706
HAITONG SECURITIES CO LTD-H HKD SWP NOM		(23,600	)		(19,214)
HAL 2015 JAN 40 CALL 01/17/2015		(280	)		(25,480)
HAL 2015 JAN 40 PUT 01/17/2015		280			43,820
HANERGY THIN FILM POWER GROUP BOA HKD SWP		(112,000	)		(1,040)
HANERGY THIN FILM POWER GROUP UBS HKD SWP		(58,000	)		(129)
HANG SENG IDX FUT JAN15		(5	)		(7,382)
HANG SENG PROPERTY INDX HKD SWP BOA		(81	)		(5,513)
HANG SENG PROPERTY INDX HKD SWP JPM		(38	)		(2,759)
HANNOVER RUECKVERSICHERU-REG SWP		(1,490	)		(13,037)
HAR 2015 JAN 105 PUT 01/17/2015		39			6,338
HASBRO INC SWP BOA		(4,394	)		(703)
HAVAS SA SWP BARC		23,064			2,439
HAVAS SA SWP BOA		4,528			2,878
HAVAS SA SWP CITI		1,811			(230)
HAVAS SA SWP JPM		9,055			743
HAVAS SA SWP MS		16,289			6,962
HAVAS SA SWP SG		4,057			(42)
HAVAS SA SWP UBS		4,331			(626)
HCA HOLDINGS INC SWP CS		(5,800	)		(26,901)
HCA HOLDINGS INC SWP MS		(607	)		(2,383)
HD HOLDING SUPPLY COMPANY SWP UBS		(2,292	)		(4,393)
HD SUPPLY SWP CS		(5,089	)		(5,195)
HDFC BANK LIMITED JAN15 INR FUT SWP BOA (X250)		1,500			(379)
HDFC BANK LIMITED JAN15 INR FUT SWP CITI (X250)		10,250			479
HDFC BANK LIMITED JAN15 INR FUT SWP JPM (X250)		1,250			84
HDFC BANK LIMITED JAN15 INR FUT SWP NOM (X250)		3,500			(428)
HDFC BANK LTD - FOREIGN SHRS USD JPM SWP		12,924			50,434
HEALTH CARE SELECT SECTOR SPDR SWP DB		(60,878	)		(137,496)
HEALTH CARE SELECT SECTOR SWP BOA		(10,371	)		14,395
HEALTH CARE SELECT SECTOR SWP JPM		(721	)		(4,714)
HELLENIC FINANCIAL STAB-CW17 07/02/16		86,047			19,159
HIMX 2015 JAN 8 CALL 01/17/2015		97			4,608
HINDALCO INDUSTRIES LTD USD SWP BOA		144,497			(12,909)
HINDALCO INDUSTRIES LTD USD SWP UBS		109,106			(31,648)
HINDUSTAN UNILEVER JAN15 INR FUT SWP JPM (X500)		(3,500	)		268
HINO MOTORS LTD USD SWP NOM		(13,500	)		9,832
HKD/USD FWD 01-08-2015 LONG		20,500,000			281
HKD/USD FWD 01-08-2015 SHORT		(2,642,885	)		—
HKD/USD FWD 01-15-2015 LONG		68,000,000			(4,386)
HKD/USD FWD 01-15-2015 SHORT		(8,771,589	)		—
HON HAI PRECISION INDUSTRY USD SWAP MS		(62,000	)		27,092
HONDA MOTOR BOA JPY SWP		(4,000	)		4,400
HONDA MOTOR UBS JPY SWP		(7,000	)		(785)
HONG KONG DOLLAR SPOT		1,066			137
HONG KONG EXCHANGES & CLEAR HKD SWAP HSBC		(3,300	)		(4,001)
HONG KONG EXCHANGES & CLEAR LTD USD SWP CS SHORT		(32,430	)		(4,108)
HONG KONG EXCHANGES LTD SWP USD CS		32,430			4,108
HOST HOTELS & RESORTS INC CS SWP USD		740			6,987
HOTEL SHILLA CO LTD USD SWP CS		2,497			(6,402)
HOTEL SHILLA CO LTD USD SWP MS		4,153			(7,910)
HOTEL SHILLA CO LTD USD SWP UBS		846			(4,519)
HOUSING DEVELOP FINANCE USD SWP BOA		4,151			(957)
HOUSING DEVELOP FINANCE USD SWP JPM		9,387			17,587
HOUSING DEVELOP FINANCE USD SWP MS		4,532			5,238
HOUSING DEVELOP FINANCE USD SWP NOM		1,239			2,444
HOUSING DEVLOP FINANCE USD SWP CITI		6,359			4,891
HOUSING DVLPMENT & INFRA CITI USD SWP		47,053			(22,694)
HOUSING DVLPMNT & INFRA SCB USD SWP		44,153			(28,145)
HOUSING DVLPMNT & INFRA USD SWP JPM		49,561			(20,996)
HOUSING DVLPMNT & INFRA USD SWP NOM		44,035			(29,079)
HOV 2015 JAN 5 CALL 01/17/2015		(131	)		(328)
HOV 2016 JAN 5 CALL 01/15/2016		(92	)		(4,370)
HOV DFT 500 12/20/2017 BARC		350,000			(11,456)
HSBC HOLDINGS PLC USD CSFB SWP		21,137			(305)
HSBC HOLDINGS PLC USD CSFB SWP SHORT		(21,137	)		305
HSCEI STRANGLE K=10800 CALL 29JUN15 BNP		1,000			172,616
HSCEI STRANGLE K=8800 PUT 29JUN15 BNP		1,000			7,815
H-SHARES IDX FUT JAN15		(26	)		(37,479)
HST 2015 JAN 13 PUT 01/17/2015		(84	)		(420)
HST DFT 500 12/20/2015 UBS		500,000			(23,966)
HTZ.N 2015 JAN 21 PUT 01/17/2015		145			1,088
HTZ.N 2015 JAN 25 CALL 01/17/2015		275			26,125
HUANENG POWER INTL BNP HKD SWP		(50,000	)		(9,688)
HUANENG POWER INTL BOA HKD SWP		10,000			(805)
HUANENG POWER INTL HKD SWP SG		(8,000	)		(1,555)
HUANENG POWER INTL HSBC HKD SWP		(150,000	)		(23,344)
HUANENG POWER INTL INC USD SWP SG		9,900			3,614
HUANENG POWER INTL NOM HKD SWP		(12,000	)		(2,395)
HYATT HOTELS CORP SWP JPM		(714	)		(1,021)
HYNIX DFT 100 20JUN15 BOA		800,000			(574)
HYNIX DFT 100 20JUN15 CS		200,000			(143)
HYNIX DFT 20JUN15 500 NOM		100,000			(1,985)
HYNIX SEMI DFT 100 20JUN15 BOA/ML		200,000			(143)
IBEX 35 INDX FUTR JAN15		(8	)		(19,569)

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
IHH HEALTHCARE BHD SGD SWP DB		(141,500	)		3,145
ILMN 2015 JAN 180 CALL 01/17/2015		4			4,000
IMM EURO$ FUT OPT DEC15C 99.38		1,100			233,750
IMM EURO$ FUT OPT DEC15C 99.63		(2,200	)		(151,250)
IMM EURO$ FUT OPT DEC15C 99.75		1,100			27,500
IMM EURO$ FUT OPT JUN15P 99.25		1,926			72,225
IMM EURO$ FUT OPT JUN15P 99.38		(3,851	)		(264,756)
IMM EURO$ FUT OPT JUN15P 99.63		1,926			529,650
IMMOFINANZ AG 4.25 3/08/18 CVB UNITS SWP JPM		20,904			(4,806)
IMMOFINANZ AG SWP JPM		(15,831	)		5,627
IMPERIAL TOBACCO GROUP PLC SWAP		21,268			60,652
IND & COMM BK OF CHINA CITI HKD SWP		(300,000	)		(27,719)
IND & COMM BK OF CHINA HKD SWP BNP		(532,000	)		(43,458)
IND & COMM BK OF CHINA HKD SWP BOA		(4,159,000	)		(274,029)
IND & COMM BK OF CHINA HKD SWP CS		(753,000	)		(42,458)
IND & COMM BK OF CHINA HKD SWP DB		(483,000	)		(32,954)
IND & COMM BK OF CHINA HKD SWP JPM		(1,207,000	)		(87,463)
IND & COMM BK OF CHINA HKD SWP MS		(88,000	)		(4,408)
IND & COMM BK OF CHINA UBS HKD SWP		(1,218,000	)		(119,729)
IND & COMM BK OF CHINA-A SWP USD BNP EXP		1,371,560			263,952
IND & COMM BK OF CHINA-A SWP USD BOA EXP		260,856			39,090
IND & COMM BK OF CHINA-A SWP USD CIT EXP		321,101			83,741
IND & COMM BK OF CHINA-A SWP USD CS EXP		1,273,089			233,048
IND & COMM BK OF CHINA-A SWP USD DB EXP		1,173,089			242,128
IND & COMM BK OF CHINA-A SWP USD JPM QFI EXP		1,025,076			122,637
IND & COMM BK OF CHINA-A SWP USD JPM RQFI EXP		1,789,602			302,857
IND & COMM BK OF CHINA-A SWP USD MS EXP		308,869			62,587
IND & COMM BK OF CHINA-A SWP USD UBS EXP		1,371,865			265,275
IND & COMM BK OF CHINA-A USD SWP BOA		(25,000	)		(671)
IND & COMM BK OF CHINA-A USD SWP MS		(50,000	)		(815)
IND & COMM BK OF CHINA-A USD SWP UBS		(71,000	)		(1,914)
INDIABULLS REAL ESTATE USD SWP BNP		31,241			(16,998)
INDIABULLS REAL ESTATE USD SWP CITI		22,558			206
INDIVIOR PLC SWP		(38,948	)		244
INDUSIND BANK LTD-FOREIGN BOA USD SWP		4,158			14,741
INDUSIND BANK LTD-FOREIGN CITI USD SWP		21,168			80,040
INDUSTRIAL BANK OF KOREA USD SWP CS		330			(117)
INDUSTRIAL BANK OF KOREA USD SWP CS SHORT		(330	)		117
INFRAESTRUCTURA ENERGETICA NOVA SWP BOA		(24,696	)		(29,441)
INFRASTRUCTURE DEV JAN15 INR FUT SWP CS (X2K)		(34,000	)		(478)
INFRASTRUCTURE DEV JAN15 INR FUT SWP JPM (X2K)		(2,000	)		(24)
ING GROEP NV SWP		126,906			(44,588)
ING GROEP NV-CVA USD SWP CSFB		14,678			(1,143)
ING GROEP NV-CVA USD SWP CSFB SHORT		(14,678	)		1,143
INNER MONGOLIA YILI INDUS-A USD SWP BNP		48,200			20,254
INNER MONGOLIA YILI INDUS-A USD SWP BOA		64,250			28,562
INNER MONGOLIA YILI INDUS-A USD SWP CITI		64,500			19,280
INNER MONGOLIA YILI INDUS-A USD SWP CS		62,800			40,960
INNER MONGOLIA YILI INDUS-A USD SWP DB		17,100			6,423
INNER MONGOLIA YILI INDUS-A USD SWP HSBC		79,300			42,228
INNER MONGOLIA YILI INDUS-A USD SWP JPM		64,250			31,000
INNER MONGOLIA YILI INDUS-A USD SWP MS		48,700			2,337
INNER MONGOLIA YILI INDUS-A USD SWP SG		25,300			18,435
INNER MONGOLIA YILI INDUS-A USD SWP UBS		257,450			122,168
INNER MONGOLIA YILI INDUSTRY DB USD SWP		57,800			21,019
INSURANCE AUSTRALIA GROUP USD SWP CS		8,957			(604)
INSURANCE AUSTRALIA GROUP USD SWP CS SHORT		(8,957	)		604
INTESA SANPAOLO SWP		(12,443	)		860
INVESTMENT AB KINNEVIK SWP USD CS SHT		(1,431	)		716
INVESTMENT AB KINNEVIK-B SHS USD SWP CSFB		1,431			(716)
INVESTOR AB SWP USD CS SHT		(1,311	)		(180)
INVESTOR AB-B SHS USD SWP CSFB		1,311			180
IPAYMENT HLDGS WARRANTS		250,124			10,563
IPG PHOTONICS CORP SWP CS		(1,320	)		(22,620)
IPG PHOTONICS CORP SWP JPM		(3,109	)		3,669
IRO USD 30Y P BOA SEP15 3.45 PUT		1,000,000			9,877
IRO USD 5Y P 2.5 BOA SEP15 2.5 PUT		(4,000,000	)		(27,380)
IRO USD 5Y P 2.5 CBK SEP15 2.5 PUT		(800,000	)		(5,476)
IRO USD30Y 3.45 CBK SEP15 3.45 PUT		200,000			1,975
IRS AUD R F 3.00000 3% 17 Jun 2020		500,000			5,103
IRS AUD R F 3.25000 3.25% 17 Dec 2019		4,800,000			104,311
IRS BRL P F 12.23000 12.23% 04 Jan 2021		2,100,000			(8,188)
IRS BRL R V 00MBRCDI 1% 04 Jan 2021		200,000			1,131
IRS EUR P F 2.00000 2% 18 Mar 2045		2,700,000			(442,891)
IRS EUR P F 2.30700 2.307% 21 Oct 2044		400,000			(34,468)
IRS EUR R F 1.25000 1.25% 18 Mar 2025		3,600,000			174,324
IRS GBP P F 1.50000 1.5% 17 Dec 2016		3,000,000			(52,518)
IRS GBP P F 1.50000 1.5% 18 Mar 2017		500,000			(7,406)
IRS GBP P F 1.75000 1.75% 17 Dec 2016		5,200,000			(90,832)
IRS GBP P F 2.25000 2.25% 17 Dec 2019		1,400,000			(83,978)
IRS GBP P F 3.00000 3% 16 Sep 2045		300,000			(76,860)
IRS GBP R F 2.75000 2.75% 18 Mar 2025		1,300,000			164,654
IRS JPY P F .50000 0.5% 17 Sep 2021		980,000,000			(102,849)
IRS MXN P V 01MTIIE 1% 04 Jun 2021		7,000,000			(1,254)
IRS MXN P V 01MTIIE 1% 07 Jul 2021		25,500,000			(9,939)
IRS MXN P V 01MTIIE 1% 09 Nov 2021		1,000,000			(557)
IRS MXN P V 01MTIIE 1% 11 Nov 2021		200,000			(162)
IRS MXN P V 01MTIIE 1% 11 Oct 2021		700,000			(376)

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
IRS MXN R F 5.86500 5.865% 08 Sep 2021		9,000,000			4,152
IRS MXN R F 6.60000 6.6% 21 May 2029		9,600,000			3,536
IRS MXN R F 7.38000 7.38% 09 Feb 2029		2,000,000			11,983
IRS PLN P V 06MWIBOR 1% 17 Jun 2025		200,000			(12)
IRS PLN R F 2.25000 2.25% 18 Mar 2025		2,100,000			804
IRS USD 03MLIBOR 1% 25 Sep 2017		400,000			5,557
IRS USD P F 3.50000 3.5% 17 Dec 2044		400,000			(68,702)
IRS USD R F .00000 0% 17 Jun 2025		300,000			9,157
IRS USD R F 3.00000 3% 20 Jun 2023		3,900,000			43,879
IRS USD R F 3.50000 3.5% 17 Dec 2034		800,000			113,451
IRS USD R F 4.50000 4.5% 19 Jun 2024		500,000			36,553
ISHARE A50 CHINA TRACKER BOA HKD SWP		(94,100	)		(16,365)
ISHARES A50 CHINA TRACKER HKD SWP CS		(120,700	)		(20,990)
ISHARES A50 CHINA TRACKER SWP JPM5		(36,600	)		(19,166)
ISHARES DJ US REAL ESTATE SWP BOA		(27,834	)		6,123
ISHRS FTSE A50 CHINA INDEX 12.537 CALL 29JAN15 DB		600,100			72,082
ISHRS FTSE A50 CHINA INDEX 13.731 CALL 29JAN15 DB		(600,100	)		(34,109)
ISUZU MOTORS LTD SWP CS		29,200			8,283
ISUZU MOTORS LTD SWP MS		1,000			2,549
ITC LIMITED JAN15 INR FUT SWP MACQ (X1K)		(14,000	)		1,469
ITRAXX EUR XOVER DFT 500 06/20/2019 ICE		133,000			(18,697)
ITRAXX.O C 0.55 EU22 FEB15 0.55 CALL		(2,200,000	)		(2,073)
ITRAXX.O C 0.60 EU22 JAN15 0.6 CALL		(300,000	)		(353)
ITRAXX.O C 0.85 EU22 FEB15 0.85 PUT		(100,000	)		(95)
ITRAXX.O EU22 5Y SOG JAN15 0.9 PUT		(300,000	)		(47)
ITRAXX.O P 0.85 EU22 FEB15 0.85 PUT		(2,100,000	)		(1,990)
JDSU US 2015 MAR 14 CALL 03/20/2015		72			5,688
JFE HOLDINGS NOM USD SWP		(9,900	)		(35,038)
JOYOUNG CO LTD - A USD SWP HSBC		9,400			(373)
JOYOUNG CO LTD - A USD SWP MS		42,500			(1,185)
JOYOUNG CO LTD - A USD SWP SG		39,200			(1,159)
JOYOUNG CO LTD - A USD SWP UBS		26,800			(1,240)
JPM 2015 MAR 62.5 CALL 03/20/2015		975			214,988
JPM Apr15 62.50 PUT		(126	)		(37,926)
JPMORGAN SWP CS		4,058			2,638
JPMORGAN SWP CS SHT		(4,058	)		(2,638)
JPY/USD FWD 01-07-2015 LONG		46,000,000			1,534
JPY/USD FWD 01-07-2015 SHORT		(382,198	)		—
JPY/USD FWD 01-21-2015 LONG		205,000,000			(29,093)
JPY/USD FWD 01-21-2015 SHORT		(1,739,281	)		—
JUST ENERGY GROUP INC SWP MS		(7,495	)		11,281
JX HOLDINGS INC USD SWP NOM		(41,100	)		69,092
K 2015 JAN 67.5 CALL 01/17/2015		39			1,853
KASIKORNBANK PCL USD SWP CS		740			(71)
KASIKORNBANK SWP USD CS SHT		(740	)		71
KC HRW WHEAT FUT JUL15		—			7,778
KEPPEL LAND L+185 ASW 29NOV15 NOM		400,000			1,612
KEPPEL LAND L+190 ASW 29NOV15 MS		300,000			1,312
KINDER MORGAN INC/DE		166,200			708,012
KINDER MORGAN INC-CW 02/15/17		223,784			953,320
KINGSOFT CORP LTD SWP BNP		(25,000	)		18,518
KINGSOFT CORP LTD SWP BOA		(4,000	)		4,604
KINGSOFT CORP LTD SWP CSFB		(7,000	)		7,547
KINGSOFT CORP LTD SWP DB		(7,000	)		7,347
KINGSOFT CORP LTD SWP HSBC		(54,000	)		27,654
KINGSOFT CORP LTD SWP JPM		(8,000	)		9,349
KINGSOFT CORP LTD SWP MS		(7,000	)		7,875
KINGSOFT CORP LTD SWP NOM		(17,000	)		22,342
KMI.N 2015 JAN 55 CALL 01/17/2015		67			134
KMI.N 2015 JAN 55 PUT 01/17/2015		(67	)		(85,090)
KONE OYJ B SWP		(1,991	)		280
KOREA ELECTRIC POWER CORP UBS SWP USD		1,130			(2,839)
KOREA ELECTRIC POWER USD SWP CITI		4,799			(19,374)
KOREA ELECTRIC POWER USD SWP JPM		1,057			(5,416)
KOSPI2 INX FUT MAR15 KRW SWP DB (X500K)		(500,000	)		3,669
KOSPI2 INX FUT MAR15 KRW SWP JPM (X500K)		(1,000,000	)		7,384
KOSPI2 INX FUT MAR15 KRW SWP UBS		1,500,000			3,479
LANXESS AG SWP		(3,843	)		(8,503)
LAREDO PETROLEUM SWP MS		(4,495	)		85,803
LAZARD LRD-CL A USD SWP CS		714			14
LAZARD SWP CS SHT		(714	)		(14)
LEGAL & GENERAL GROUP PLC SWP		(70,330	)		(4,169)
LEGAL GENERAL PUBLIC GRP PLC USD SWP CS		3,393			274
LEGAL GENERAL PUBLIC GRP PLC USD SWP CS SHORT		(3,393	)		(274)
LEN DFT 500 12/20/2016 BOA		500,000			(42,065)
LENOVO GROUP LTD		(657,450	)		48,741
LG HOUSEHOLD & HEALTH CARE BOA USD SWP		(210	)		(5,067)
LG HOUSEHOLD & HEALTH CARE JPM USD SWP		(23	)		(432)
LG HOUSEHOLD & HEALTH CARE USD SWP UBS		(15	)		(537)
LG HOUSEHOLD & HEALTHCARE USD SWP CS		(78	)		(1,637)
LG HOUSEHOLD & HEALTHCARE USD SWP DB		(57	)		(1,942)
LIBERTY BROADBAND-A SWP CS		3,400			(6,800)
LIBERTY BROADBAND-C SWP CS		3,400			(7,321)
LIBERTY BROADBAND-RIS		(8,091	)		(76,865)
LIBERTY BROADBAND-RIS LONG RTS		6,720			63,840
LIBERTY BROADBAND-RIS RTS SWP CS		1,360			(1,893)
LIBERTY DFT 500 09/20/2016 MS		500,000			(38,131)
LIBERTY DFT 500 12/20/2017 CS		100,000			(11,107)

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
LIGHT SWEET CRUDE OIL FTR OPTN FEB15 74 CALL		(2,000	)		(20)
LIGHT SWEET CRUDE OIL FTR OPTN FEB15 75 CALL		(6,000	)		(60)
LIGHT SWEET CRUDE OIL FTR OPTN MAR15 67 CALL		(4,000	)		(1,680)
LINK REIT HKD SWP DB		(17,000	)		54
LIXIL GROUP CORP JPY SWP CS		(7,200	)		(12,783)
LIXIL GROUP CORP JPY SWP UBS		(3,500	)		(5,642)
LLOYDS BANKING GROUP PLC SWP		(387,837	)		2,070
LLOYDS BANKING GROUP PLC USD SWP CS SHORT		(30,763	)		285
LLOYDS BANKING GRP USD SWP CS		30,763			(285)
LLS ARGUS V WTI S APR15		—			(1,480)
LLS ARGUS V WTI S AUG15		—			(710)
LLS ARGUS V WTI S DEC15		—			(760)
LLS ARGUS V WTI S FEB15		—			(1,580)
LLS ARGUS V WTI S JAN15		—			(1,520)
LLS ARGUS V WTI S JUL15		—			(660)
LLS ARGUS V WTI S JUN15		—			(1,180)
LLS ARGUS V WTI S MAR15		—			(1,680)
LLS ARGUS V WTI S MAY15		—			(1,380)
LLS ARGUS V WTI S NOV15		—			(700)
LLS ARGUS V WTI S OCT15		—			(730)
LLS ARGUS V WTI S SEP15		—			(730)
LMCA 2015 JAN 150 CALL 01/17/2015		1			250
LMCA 2015 JAN 50 CALL 01/17/2015		3			180
LONDON STOCK EXCHANGE GROUP USD SWP CS SHORT		(161	)		(9)
LONDON STOCK EXCHANGE GRP PLC SWP USD CS		161			9
LONG GILT FUTURE MAR15		—			20,364
LONG GILT FUTURE MAR15		(1	)		(5,002)
LOTTE CHEMICAL CORP USD SWAP BAR		648			(35,912)
LOTTE CHEMICAL CORP USD SWAP BNP		131			(6,270)
LOTTE CHEMICAL CORP USD SWAP CITI		242			(5,744)
LOTTE CHEMICAL CORP USD SWAP CS		422			(6,237)
LOTTE CHEMICAL CORP USD SWAP DB		308			(4,571)
LOTTE CHEMICAL CORP USD SWAP UBS		430			766
LOTTE CHEMICAL CORP USD SWP MS		238			(9,102)
LUKOIL INTL FINANCE BV 2.625 06/16/2015 SWP CITI		100,000			(2,325)
LYB 2015 JAN 80 CALL 01/17/2015		29			5,293
MACQUARIE GRP LTD SWP USD CS		423			218
MACQUARIE GRP LTD SWP USD CS SHORT		(423	)		(218)
MALAYAN BANKING BHD USD SWP CSFB		2,833			259
MALAYAN BANKING SWP USD CS SHRT		(2,833	)		(259)
MAPFRE SA USD SWP CS		1,320			(153)
MAPFRE SA USD SWP CS SHORT		(1,320	)		153
MARKETWEST ENERGY PARTNERS LP SWP MS		(10,870	)		(24,165)
MARRIOTT INTL CL A SWP JPM		(634	)		(2,899)
MATAHARI DEPARTMENT STORE TB JPM USD SWP		91,100			873
MATERIALS SELECT SECTOR SPDR SWP JPM		(39,820	)		48,979
MBLY 2015 JAN 44 CALL 01/17/2015		114			4,845
MCD 2015 JAN 95 CALL 01/17/2015		534			79,032
MCD 2015 JAN 97.5 CALL 01/16/2015 OTC NOMURA		195			14,723
MDLZ 2015 JAN 40 CALL 01/17/2015		195			683
MEDA AB-A SHS SWP		49,023			28,416
MEDA AB-A SHS SWP CITI		21			139
MEDA AB-A SHS SWP SEB		2			13
MEDIOBANCA SPA USD SWP CS		631			(38)
MEDIOBANCA SPA USD SWP CS SHORT		(631	)		38
MELIA HOTELS INTERNATIONAL SWP BOA		(4,075	)		(1,110)
MELIA HOTELS INTERNATIONAL SWP HSBC		4,075			1,110
MELIA HOTELS INTL SWP		(946	)		(1,169)
MENS WEARHOUSE SWP MS		20,271			(126,961)
MERITOR DFT 500 03/20/2019 BOA3		250,000			(29,880)
METCASH TRADING LTD AUD SWP UBS		(25,806	)		17,869
METLIFE INC SWP CS		6,274			1,694
METLIFE SWP CS SHT		(6,274	)		(1,694)
METSO OYJ SWP		(6,251	)		100
MEYER BURGER TECHNOLOGY 4 09/24/2020 SWP CITI		230,000			12,269
MEYER BURGER TECHNOLOGY AG SWP BARC		(3,633	)		(268)
MEYER BURGER TECHNOLOGY AG SWP CITI		(7,017	)		(6,815)
MEYER BURGER TECHNOLOGY AG SWP JPM		1,630			(2,247)
MEYER BURGER TECHNOLOGY AG SWP UBS		(1,236	)		(916)
MEYER BURGER TECHNOLOGY SWP MS		(6,750	)		(475)
MGM DFT 20MAR16 CITI		125,000			(2,695)
MGM US 2015 JAN 17 PUT 01/17/2015		(383	)		(2,490)
MGM US 2015 MAR 18 PUT 03/20/2015		(36	)		(1,278)
MHK 2015 JAN 160 CALL 01/17/2015		77			12,898
MIC 2015 APR 75 CALL 04/17/2015		15			2,475
MIDEA GROUP CO LTD-A USD SWP BOA		17,700			2,502
MIDEA GROUP CO LTD-A USD SWP CS		22,700			25,118
MIDEA GROUP CO LTD-A USD SWP HSBC		20,500			22,192
MIDEA GROUP CO LTD-A USD SWP JPM		60,300			47,736
MILL WHEAT EURO MAR15		—			12,448
MITSUBISHI UFJ FIN SWP USD NOM		(29,900	)		12,766
MITSUBISHI UFJ LEASE & FINANCE CO LTD USD SWP CS		20,672			3,263
MITSUBISHI UFJ LEASE & FINANCE CO USD SWP CS SHORT		(20,672	)		(3,263)
MITSUI & CO LTD JPM SWP		(3,800	)		2,697
MITSUI & CO LTD JPY SWP SG		(2,600	)		1,832
MITSUI CHEMICALS INC DFT 100 20DEC17 JPM		13,417,000			—
MITSUI OSK LINES 367 11DEC15 OTC SG		35,000			8,928
MITSUI OSK LINES 367 11DEC15 OTP SG		35,000			13,243

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
MITSUI OSK LINES LTD 377 CALL 11DEC15 BZW		57,000			12,800
MITSUI OSK LINES LTD 377 PUT 11DEC15 BZW		57,000			24,568
MIZUHO FINANCIAL ADR SWP CS SHT		(18,433	)		369
MIZUHO FINANCIAL GROUP-ADR SWP CS		18,433			(369)
MIZUHO FINANCIAL GRP MS JPY SWP		20,000			85
MIZUHO FINANCIAL SG JPY SWP		(20,000	)		(185)
MNV ZRT 3.375 04/02/2019 CVB SWAP CITI		500,000			(1,854)
MOBILEYE NV SWP CS		2,230			(2,788)
MOLYCORP INC MS SWAP		(4,388	)		(47)
MON.N 2015 APR 115 PUT 04/17/2015		51			17,085
MPLX LP SWP MS		(323	)		(873)
MS&AD INSURANCE GROUP HOLDING USD SWP CS		2,155			220
MS&AD INSURANCE GROUP HOLDING USD SWP CS SHORT		(2,155	)		(220)
MS&AD INSURANCE GROUP HOLDINGS USD SWP NOM		(8,800	)		(25,768)
MSCI DAILY TR GR EMRG MRKS PHILIP USD INDX SWP DB		(63	)		119
MSCI DAILY TR NET EMERGING MARKETS INDO USD SWP CS		(158	)		(6,446)
MSCI TR GROSS EMERGING MKTS INDEX INF CS USD SWP		(15	)		535
MSCI TR GROSS EMERGING MKTS INDEX INF DB USD SWP		(132	)		27,463
MT.N 2015 JUN 13 CALL 06/19/2015		4			136
MT.N 2015 MAR 13 CALL 03/20/2015		21			294
MT.N 2016 JAN 13 CALL 01/15/2016		3			252
MT.N 2016 JAN 13 PUT 01/15/2016		137			40,347
MT.N 2016 JAN 15 CALL 01/15/2016		32			1,520
MTG 2016 JAN 12 CALL 01/15/2016		(289	)		(21,675)
MTG DFT 500 06/20/2017 CITI		750,000			(72,361)
MTL US 2015 JAN 3 CALL 01/17/2015		(8	)		(20)
MTL US 2015 JAN 3 PUT 01/17/2015		8			1,880
MTL US 2015 JAN 4 PUT 01/17/2015		46			15,410
MTOR 2016 JAN 20 CALL 01/15/2016		(66	)		(7,095)
MU 2015 JAN 34 CALL 01/17/2015		293			59,772
MU 2015 JAN 35 CALL 01/09/2015		82			11,029
MUENCHENER RUECKVER AG-REG SWP		(1,657	)		(16,809)
MURATA MANUFACTURING CO SWP CITI		(700	)		(2,276)
MW 2015 JAN 41 CALL 01/17/2015		43			14,190
NASDAQ 100 E-MINI MAR15		(29	)		(25,565)
NASPERS LTD-N SHS		6,988			6,432
NASPERS LTD-N SHS CITI SWP		3,530			39,544
NATIONAL AUSTRALIA BANK USD SWP CS		3,767			3,171
NATIONAL AUSTRALIA BANK USD SWP CS SHORT		(3,767	)		(3,171)
NATURAL GAS EURO FTR OPTN APR15 3000 PUT		(40,000	)		(12,592)
NATURAL GAS EURO FTR OPTN APR15 3700 CALL		(40,000	)		(1,472)
NATURAL GAS FTR OPTN FEB15 3250 PUT		(10,000	)		(4,150)
NATURAL GAS FUTR APR15		—			484,114
NATURAL GAS FUTR APR16		—			29,540
NATURAL GAS FUTR FEB15		—			650
NATURAL GAS FUTR JAN16		—			54,180
NATURAL GAS FUTR JUL15		—			(104,802)
NATURAL GAS FUTR MAR15		—			440,590
NATURAL GAS FUTR MAR16		—			(85,523)
NATURAL GAS FUTR MAY15		—			(680,979)
NATURAL GAS SWAP APR16		—			(16,990)
NATURAL GAS SWAP AUG16		—			(15,310)
NATURAL GAS SWAP DEC16		—			(3,920)
NATURAL GAS SWAP FEB16		—			(5,800)
NATURAL GAS SWAP JAN16		—			(5,790)
NATURAL GAS SWAP JUL16		—			(15,510)
NATURAL GAS SWAP JUN16		—			(16,250)
NATURAL GAS SWAP MAR16		—			(6,220)
NATURAL GAS SWAP MAY16		—			(16,910)
NATURAL GAS SWAP NOV16		—			(5,800)
NATURAL GAS SWAP OCT16		—			(14,990)
NATURAL GAS SWAP SEP16		—			(15,530)
NAVER CORP CS USD SWP		53			(1,512)
NAVER CORP USD SWP BOA		122			(389)
NAVER CORP USD SWP CITI		213			(23,414)
NAVER CORP USD SWP HSBC		363			(15,831)
NAVER CORP USD SWP JPM		535			(10,977)
NAVER CORP USD SWP MACQ		333			(16,846)
NAVER CORP USD SWP NOM		116			(25)
NEW CHINA LIFE INSURANCE BOA HKD SWP		(22,600	)		(12,837)
NEW CHINA LIFE INSURANCE C-H USD SWP CS SHORT		(15,654	)		(9,278)
NEW CHINA LIFE INSURANCE HKD SWP CS		(17,000	)		(8,092)
NEW CHINA LIFE INSURANCE SG HKD SWP		(14,100	)		(5,934)
NEW CHINA LIFE INSURANCE SWP BNP		(7,700	)		(4,769)
NEW CHINA LIFE INSURANCE SWP JPM		(12,700	)		(5,083)
NEW CHINA LIFE INSURANCE SWP NOM		(9,800	)		(4,289)
NEW CHINA LIFE INSURANCE SWP USD CS		15,654			9,278
NEXT PLC SWP		6,544			465
NFLX 2015 JAN 310 PUT 01/02/2015		11			22
NH HOTELS SA SWP		(2,135	)		(1,368)
NIDEC CORP ASW 30 18SEP15 NOM		60,000,000			240,567
NIDEC CORP JPY SWP NOMURA		(8,400	)		(104,825)
NIELSEN NV SWP CSFB		(4,880	)		(5,105)
NIKKEI 225 (SGX) MAR15		(32	)		51,607
NIKON CORP CS JPY SWP		(10,324	)		(5,148)
NIKON CORP HSBC JPY SWP		(10,900	)		(5,845)
NIKON CORP JPY SWP NOM		(4,683	)		(844)
NINTENDO 11145 CALL 11DEC15 NOM		1,100			19,627

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
NINTENDO 11145 PUT 11DEC15 NOM		1,100			7,626
NINTENDO 11165 CALL 11DEC15 SG		1,600			29,616
NINTENDO 11165 PUT 11DEC15 SG		1,600			11,652
NINTENDO 12000 CALL 11DEC15 SG		1,500			21,847
NINTENDO 12000 PUT 11DEC15 SG		1,500			15,453
NINTENDO CO LTD JPY SWP NOM		(200	)		(2,436)
NINTENDO CO LTD JPY SWP SG		(400	)		(3,412)
NISSAN MOTOR BNP JPY SWP		(16,100	)		(252)
NISSAN MOTOR BOA JPY SWP		(45,400	)		(5,597)
NISSAN MOTOR CITI JPY SWP		(14,400	)		(464)
NISSAN MOTOR CORP BAR JPY SWP		(14,400	)		5,719
NISSAN MOTOR CORP JPM JPY SWP		(17,800	)		(414)
NISSAN MOTOR CORP MS JPY SWP		(12,500	)		(6,073)
NISSAN MOTOR CORP NOM JPY SWP		(29,700	)		(11,376)
NISSAN MOTOR CS JPY SWP		(24,500	)		3,140
NISSAN MOTOR DB JPY SWP		(11,900	)		334
NISSAN MOTOR SG JPY SWP		(2,500	)		(1,195)
NISSAN MOTOR UBS JPY SWP		(19,900	)		(7,533)
NKSJ HOLDINGS INC USD SWP CS		936			122
NKSJ HOLDINGS INC USD SWP CS SHORT		(936	)		(122)
NN GROUP NV SWP		(5,468	)		(487)
NOKIA OYJ SWP		(70,871	)		(5,731)
NOMURA HOLDINGS 625 CALL 11DEC15 SG		60,100			49,131
NOMURA HOLDINGS 625 PUT 11DEC15 SG		60,100			21,557
NOMURA HOLDINGS 650 CALL 11DEC15 BARC		38,900			27,392
NOMURA HOLDINGS 650 PUT 11DEC15 BARC		38,900			17,548
NOMURA HOLDINGS 682.6 CALL 11SEP14 SG		38,000			19,266
NOMURA HOLDINGS 682.6 PUT 11SEP14 SG		38,000			19,537
NOMURA HOLDINGS SG JPY SWP		(2,400	)		(1,305)
NOMURA HOLDINGS SWP BARC		(2,700	)		(905)
NORDEA BANK AB USD SWP CSFB		2,341			472
NORDEA BANK SWP USD CS SHT		(2,341	)		(472)
NORSK HYDRO ASA		(19,652	)		(9,327)
NORTHWESTERN CORP SWP JPM		(4,292	)		(23,340)
NOVARTIS AG-REG SWP		(7,094	)		(24,773)
NOVION PROPERTY GROUP SWP BOA		(2,400	)		(2)
NOVION PROPERTY GROUP SWP JPM		(6,561	)		196
NOVION PROPERTY GROUP SWP MS		(3,400	)		(9)
NSK LTD NOM USD SWP		(14,000	)		17,098
NTT CORP JPY SWP CITI		(5,500	)		4,832
NTT CORP JPY SWP CS		(2,700	)		1,921
NTT CORP JPY SWP NOM		(1,400	)		1,581
NTT CORP MS JPY SWP		(3,800	)		7,700
NTT CORP USD SWP NOM		(5,400	)		78,677
NUAN 2016 JAN 5 PUT 01/15/2016		208			2,080
NY HARB ULSD FUT DEC15		—			(325,822)
NY HARB ULSD FUT FEB15		—			31,767
NY HARB ULSD FUT JUN15		—			328,554
NY HARB ULSD FUT MAR15		—			(23,340)
NYH ULSD ASIA OP AUG15		—			21,626
NYH ULSD ASIA OP JUL15		—			22,361
NYH ULSD ASIA OP SEP15		—			20,895
NYM ECAL 0.5		(20,000	)		(6,200)
NYM ECAL 1		(40,000	)		(9,400)
NYM ECAL WTI BRENT SP MAR15 3 CALL		(3,000	)		(1,680)
NYM ECAL WTI BRENT SPRD FUT 03		(8,000	)		(16,720)
NYM EPUT WTI BRENT MAR15 8 PUT		(3,000	)		(630)
NYM EPUT WTI BRENT SP FEB15 3 CALL		(1,000	)		(300)
NYM EPUT WTI BRENT SPRD FUT 03		(8,000	)		(80)
NYRSTAR 4.25 09/25/2018 CVB SWP CITI		200,000			6,504
NYRSTAR SWP CITI		(40,325	)		(9,759)
OBEROI REALTY LTD USD SWP CITI		18,398			6,260
OCN Apr15 21 PUT		(457	)		(297,050)
OCR 2015 JAN 60 CALL 01/17/2015		(1	)		(1,335)
OCR 2015 JAN 65 CALL 01/17/2015		6			4,950
OCR DFT 100 12/20/2015 DB		500,000			(3,879)
OCR DFT 500 12/20/2015 BARC		500,000			(23,516)
OLD MUTUAL PLC SWP USD CS		1,413			35
OLD MUTUAL PLC USD SWP CS SHORT		(1,413	)		(35)
ORICA LTD		(20,760	)		(10,771)
ORIX - SPONSORED ADR USD SWP CS		130			(285)
ORIX ADR SWP CS SHT		(130	)		285
OSRAM LICHT AG SWP JPM		998			892
OTC ECAL NGJ5 4.30 MAR15 4.3 CALL		(20,000	)		(180)
OTC ECAL USD VS JPY FEB15 114 CALL		1,600,000			79,698
OTC ECAL USD VS JPY FEB15 116 CALL		(1,600,000	)		(56,058)
OTC ECAL USD VS JPY FEB15 118 CALL		(1,600,000	)		(35,726)
OTC ECAL USD VS MXN MAR15 15.45 CALL		(900,000	)		(6,800)
OTC EPUT NGJ5 3.30 MAR15 3.3 PUT		(20,000	)		(10,340)
OTC EPUT PLATGOLD SP FEB15 19 PUT		(20,000	)		(2,510)
OTC EPUT PLATGOLD SP MAR15 19 PUT		(100	)		(1,134)
OTC EPUT USD VS JPY APR16 93 PUT		(200,000	)		(711)
OTC EPUT USD VS JPY APR16 94.75 PUT		(800,000	)		(3,926)
OTC EPUT USD VS JPY FEB16 91.0 PUT		(1,200,000	)		(3,258)
OTC EPUT USD VS JPY FEB19 80.0 PUT		(1,100,000	)		(17,240)
OTC EPUT USD VS JPY MAY16 92.0 PUT		(500,000	)		(1,792)
OTC EPUT USD VS JPY SEP16 93 PUT		(800,000	)		(4,654)
OTC EPUT USD VS JPY SEP16 95 PUT		(1,300,000	)		(9,156)

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
OTC EPUT USD VS JPY SEP16 96.0 PUT		(400,000	)		(3,101)
OTC EPUT USD VS JPY SEP16 97 PUT		(500,000	)		(4,269)
OVERSEA CHINESE BANKING SWP USD CS SHT		(1,973	)		(210)
OVERSEA-CHINESE BANKING CORP USD SWP CS		1,973			210
OZ PAY 0.61% REC 6M JPY LIBOR 06MAR22 JPM		85,000,000			(13,497)
OZ PAY 0.6575% FIX REC 6M JPY LIBOR 28FEB22 MS		86,000,000			(16,094)
OZ PAY 0.675% REC 6M JPY LIBOR 27FEB22 MS		86,000,000			(16,983)
OZ PAY 0.6975% REC 6M JPY LIBOR 25FEB22 JPM		319,000,000			(67,259)
OZ PAY 0.7025% REC 6M JPY LIBOR 25FEB22 CS		266,000,000			(56,869)
OZ PAY 1.70% FIX REC 6M JPY LIBOR 16MAY33 CS		42,000,000			(39,092)
OZ PAY 3.60% REC THBFIX 6M 29JUL24 CSFB		2,222,000			(4,789)
OZ PAY 3.63% REC THBFX 6M 02JUL24 CS		6,009,000			(13,403)
PANASONIC CORP CS JPY SWP		(40,400	)		2,078
PANASONIC CORP NOM JPY SWP		(5,900	)		(372)
PANASONIC CORP UBS JPY SWP		(5,700	)		(1,388)
PARADISE CO LTD USD SWP BNP		(571	)		1,868
PARADISE CO LTD USD SWP BOA		(282	)		860
PARADISE CO LTD USD SWP CS		(3,553	)		12,721
PARADISE CO LTD USD SWP DB		(296	)		1,010
PARADISE CO LTD USD SWP HSBC		(832	)		2,807
PARADISE CO LTD USD SWP JPM		(233	)		739
PATRIOT COAL CORP WRT 12/18/2023		18,793			93,965
PAY 0.449% REC 6M LIBOR 29MAY15 CS		220,000,000			(2,149)
PBR 2015 JAN 7 PUT 01/02/2015		161			403
PEGATRON CORP CS USD SWP		(14,964	)		(4,805)
PEOPLE INSURANCE CO GRP SWP USD CS		170,420			1,091
PEOPLES INSURANCE CO GROUP-H USD SWP CS SHORT		(170,420	)		(1,091)
PEP 2015 JAN 100 CALL 01/17/2015		49			466
PEP 2015 JAN 95 CALL 01/17/2015		40			3,960
PETROCHINA CO LTD BOA SWP HKD		8,000			79
PETROCHINA CO LTD USD SWP BOA		(7,400	)		(1,265)
PETROLEUM GEO-SERVICES SWP JPM		3,260			855
PETROLEUM GEO-SERVICES SWP MS		(3,260	)		(855)
PETS AT HOME GROUP PLC		76,586			24,666
PEUGEOT SA SWP		67,694			15,457
PICC PROPERTY & CASUALTY CO CS HKD SWP		(28,000	)		(12,842)
PICC PROPERTY & CASUALTY DB HKD SWP		(29,560	)		(12,494)
PICC PROPERTY & CASUALTY HKD SWP BAR		(12,000	)		(2,368)
PICC PROPERTY & CASUALTY HKD SWP BOA		(12,000	)		(5,557)
PICC PROPERTY & CASUALTY HKD SWP JPM		(20,000	)		(258)
PICC PROPERTY & CASUALTY-H USD SWP CS SHORT		(24,783	)		(123)
PICC PROPERTY CASUALTY SWP USD CS		24,783			123
PING AN INSURANCE GROUP CO-A USD SWP BOA		(4,400	)		(7,737)
PING AN INSURANCE GROUP CO-A USD SWP DB		(28,600	)		(23,275)
PING AN INSURANCE GROUP CO-A USD SWP MS		(24,700	)		(8,628)
PING AN INSURANCE GROUP CO-A USD SWP UBS		(66,700	)		(116,840)
PING AN INSURANCE GROUP CO-H USD SWP CS SHORT		(97,810	)		(59,178)
PING AN INSURANCE GRP SWP USD CS		97,810			59,178
PING AN INSURANCE JPM HKD SWP		55,500			4,775
PLATINUM FUTURE APR15		—			(331)
PORTUGAL TELECOM SGPS SA-REG SWP NMRA		2,850			(3,607)
PORTUGAL TELECOM SGPS SA-REG SWP SEB		(2,850	)		3,607
POWER ASSETS HOLDINGS LTD HKD SWP HSBC		(4,000	)		(1,933)
PRADA S.P.A. HKD SWAP BOA		(43,300	)		51,869
PRADA S.P.A. HKD SWAP CS		(11,800	)		22,113
PRADA S.P.A. HKD SWAP HSBC		(2,600	)		1,524
PRADA S.P.A. HKD SWAP MS		(7,300	)		4,356
PRUDENTIAL PLC SWAP		(6,102	)		1,677
PRUDENTIAL PLC SWP USD CS		1,613			(642)
PRUDENTIAL PLC USD SWP CS SHORT		(1,613	)		642
PUBLIC BANK BERHAD SWP USD CS SHT		(1,235	)		(218)
PUBLIC BANK BERHAD USD SWP CSFB		1,235			218
PVH 2015 JAN 115 CALL 01/17/2015		97			134,345
QIHU 2015 JAN 20 PUT 01/17/2015		141			705
QIHU 2016 JAN 32.5 PUT 01/15/2016		95			20,663
QIHU 2016 JAN 35 PUT 01/15/2016		14			4,025
QIHU 2016 JAN 37.5 PUT 01/15/2016		10			3,650
QINGDAO HAIER CO LTD-A USD SWP BOA		26,000			5,862
QINGDAO HAIER CO LTD-A USD SWP JPM		26,000			6,795
QINGDAO HAIER CO LTD-A USD SWP MS		46,000			14,534
QINGDAO HAIER CO LTD-A USD SWP UBS		132,500			(6,601)
QSR 2015 JAN 35 CALL 01/17/2015		24			9,960
QSR 2015 JAN 35 PUT 01/17/2015		(24	)		(360)
QSR 2015 JAN 38 CALL 01/17/2015		6			960
QSR 2015 JAN 38 PUT 01/17/2015		(6	)		(405)
QSR 2015 JAN 40 CALL 01/17/2015		901			51,808
QSR 2015 JAN 40 PUT 01/17/2015		(901	)		(146,413)
RADIAN GROUP INC USD SWP CS		3,789			1,553
RADIAN GRP SWP CS SHT		(3,789	)		(1,553)
RAKUTEN INC 1305 CALL 11DEC15 SG		13,600			51,051
RAKUTEN INC 1305 PUT 11DEC15 SG		13,600			8,055
RAKUTEN INC 1419 CALL 11DEC15 SG		22,300			68,827
RAKUTEN INC 1419 PUT 11DEC15 SG		22,300			19,532
RAKUTEN INC BOA JPY SWP		(12,600	)		(5,752)
RAKUTEN INC CITI JPY SWP		(2,300	)		(1,761)
RAKUTEN INC CS JPY SWP		(10,300	)		(5,019)
RAKUTEN INC DB JPY SWP		(7,700	)		(5,582)
RAKUTEN INC MS JPY SWP		(10,600	)		(5,817)

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
RAKUTEN INC SG JPY SWP		(5,700	)		(14,621)
RBOB CALENDAR SWA AUG15		—			(18,782)
RBOB CALENDAR SWA JUL15		—			(18,207)
RBOB CALENDAR SWA SEP15		—			(23,297)
RBOB V BRENT SP S AUG15		—			994
RBOB V BRENT SP S JUL15		—			2,251
RBOB V BRENT SP S SEP15		—			(4,139)
RCS CAPITAL CORP-CLASS A SWP CS		15,801			36,184
RDN 2015 JAN 12 CALL 01/17/2015		(321	)		(154,080)
RDN 2016 JAN 12 CALL 01/15/2016		(1	)		(545)
RDN DFT 500 12/20/2017 CSFB		250,000			(25,563)
RED WHEAT FUT MGE JUL15		—			(1,865)
RED WHEAT FUT MGE MAR15		—			25,997
REP OF HUNGARY DFT 100 06/20/2019 BARCLAYS		456,000			11,904
REP OF HUNGARY DFT 100 06/20/2019 NOMURA		148,000			3,910
REP SM 2016 DEC 18 PUT 12/16/2016 BCLEAR		155			79,715
REP SM 2016 DEC 18.5 PUT 12/16/2016 BCLEAR		100			56,149
REPSOL SA SWP CITI		(23,433	)		56,640
RESONA HOLDINGS USD SWP NOM		(34,000	)		16,855
RF 2015 FEB 11 CALL 02/20/2015		195			3,998
RHT 2016 JAN 65 CALL 01/15/2016		13			14,040
RHT 2016 JAN 72.5 CALL 01/15/2016		5			3,575
RIG 2015 FEB 13 PUT 02/20/2015		288			10,512
RIG 2015 JAN 40 CALL 01/17/2015		(58	)		(29)
RIG 2015 JAN 40 PUT 01/17/2015		58			125,570
ROLLS-ROYCE HOLDINGS PLC SWP		(58,019	)		(48,560)
ROUGH RICE (CBOT) MAR15		—			25,360
ROYAL MAIL PLC SWP		(35,980	)		(6,330)
RSA INSURANCE GROUP PLC SWP		201,772			(137,398)
RUSSELL 2000 MINI MAR15		(9	)		(48,108)
RYANAIR HOLDINGS PLC SWP		168,651			378,394
RYANAIR HOLDINGS USD SWP CSFB		15,260			32,917
RYL 2016 JAN 30 CALL 01/15/2016		(125	)		(131,250)
RYL DFT 500 06/20/2018 JPM		250,000			(29,647)
RYL DFT 500 06/20/2018 MS		250,000			(29,647)
S&P500 EMINI FUT MAR15		(1,136	)		(4,234,926)
S.O.I.T.E.C. SWP BARC		(5,705	)		(838)
S.O.I.T.E.C. SWP CITI		2,850			310
S.O.I.T.E.C. SWP CSFB		(1,630	)		(197)
S.O.I.T.E.C. SWP DB		(4,075	)		(641)
S.O.I.T.E.C. SWP MS		11,410			1,677
S.O.I.T.E.C. SWP SEB		(2,850	)		(310)
SAIC MOTOR CORP JPM USD SWP		68,000			79,408
SAIC MOTOR CORPORATION LTD-A USD SWP BOA		26,400			29,866
SAIC MOTOR CORPORATION LTD-A USD SWP DB		85,900			100,894
SAIC MOTOR CORPORATION LTD-A USD SWP HSBC		21,300			24,760
SAINSBURY JPM SWAP		(24,450	)		(2,451)
SAINSBURY PLC SWP		(123,216	)		(10,443)
SAINSBURY PLC SWP CITI		84,196			4,768
SAINSBURY SWP BNP		(27,146	)		6,473
SAINSBURYS SWP CS		(32,600	)		(8,789)
SAMPO OYJ USD SWP CS		95			(68)
SAMPO OYJ USD SWP CS SHORT		(95	)		68
SAMSUNG SDS CO LTD USD SWP BAR		(1,912	)		(5,743)
SAMSUNG SDS CO LTD USD SWP BNP		(286	)		(3,804)
SAMSUNG SDS CO LTD USD SWP BOA		(1,012	)		1,561
SAMSUNG SDS CO LTD USD SWP DB		(104	)		(1,167)
SAMSUNG SDS CO LTD USD SWP JPM		(86	)		(762)
SAMSUNG SDS CO LTD USD SWP MACQ		(912	)		(12,119)
SAN FP 2015 MAR 88 CALL 03/20/2015		83			4,018
SANDS CHINA BARC HKD SWP		(11,600	)		13,154
SANDS CHINA HKD SWP MACQ		(20,400	)		18,294
SANDS CHINA LTD CS HKD SWP		(23,600	)		21,118
SANDS CHINA LTD HKD SWP NOM		(48,000	)		48,321
SANDS CHINA LTD SWP BNP		(3,200	)		3,537
SANDS CHINA LTD SWP BOA		(29,200	)		31,430
SANTANDER CONSUMER USA HOLDI SWP CS		(4,785	)		(1,255)
SANTANDER CONSUMER USA SWP CS SHT		(1,238	)		446
SANY HEAVY INDUSTRY CO LTD-A USD SWP CITI		61,300			35,414
SANY HEAVY INDUSTRY CO LTD-A USD SWP JPM		127,300			62,429
SAS AB SWP BARC		(3,261	)		920
SAS AB SWP DB		(4,076	)		1,150
SAS AB SWP JPM		17,644			(4,980)
SAS SWP SEB		(10,307	)		2,909
SCTY 2017 JAN 10 PUT 01/20/2017		168			10,500
SCTY 2017 JAN 100 CALL 01/20/2017		(13	)		(6,728)
SCTY 2017 JAN 100 PUT 01/20/2017		13			68,023
SD 2015 JAN 2 PUT 01/17/2015		225			6,075
SEADRILL LTD SWP UBS		(4,488	)		116,956
SEADRILL PARTNERS LLC SWP JPM		(4,177	)		58,743
SEAWORLD ENTERTAINMENT SWP CS		(667	)		8,017
SEIKO HOLDINGS CORP JPY SWP CS		(6,000	)		887
SEM GROUP LITIGATION TRUST		1			—
SEMICONDUCTOR HOLDRS TRUST SWP JPM		(19,055	)		27,439
SEMICONDUCTOR MANUFACT MS HKD SWP		(49,000	)		177
SEMICONDUCTOR MANUFACTURING HKD SWP JPM		(183,000	)		1,131
SEMICONDUCTOR MANUFACTURING HKD SWP NOM		(374,000	)		(584)
SGX CNX NIFTY JAN15		(125	)		(8,649)

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
SHANGHAI PUDONG DEVEL BANK-A USD SWP CS		41,600			33,723
SHANGHAI PUDONG DEVEL BANK-A USD SWP UBS		55,200			36,955
SHANGHAI WAIGAOQIAO FTZ - A USD SWP DB		13,700			11,795
SHANGHAI WAIGAOQIAO FTZ - A USD SWP UBS		7,900			4,661
SHARP CORP JPY SWP CS		(112,000	)		12,786
SHARP CORP JPY SWP DB		(1,000	)		265
SHARP CORP JPY SWP UBS		(85,000	)		3,180
SHIMAO PROPERTY HLDGS DB HKD SWP		(18,000	)		1,819
SHIMAO PROPERTY HLDGS HKD SWP BOA		(32,500	)		(2,934)
SHIMAO PROPERTY HLDGS HKD SWP NOM		(12,500	)		1,025
SHIMIZU CORP USD SWP NOM		(24,000	)		14,275
SHIP FINANCE INTL LTD SWP CS		(3,544	)		16,276
SHIP FINANCE INTL LTD SWP JPM		(2,636	)		11,105
SHIRE PLC SWP		26,570			157,183
SHISEIDO CO BAR JPY SWP		(11,700	)		17,223
SHISEIDO CO JPY SWP MS		(14,800	)		21,356
SHIZUOKA BANK LTD JPY SWP BOA		1,000			1,301
SHIZUOKA BANK LTD USD SWP NOM		(19,000	)		9,799
SHPG Apr15 205 PUT		(54	)		(62,100)
SIE GY 120 CALL 16DEC2016		246			70,105
SIE GY 2016 DEC 100 CALL 12/16/2016		21			17,229
SIE GY 2016 DEC 110 CALL 12/16/2016		21			10,444
SIE GY 2018 DEC 100 CALL 12/21/2018		21			22,973
SIE GY 2018 DEC 76 PUT 12/21/2018		32			44,532
SIEMENS AG-REG SWP CSFB		4,711			3,209
SIEMENS FINANCIERINGSMAT DFT 100 12/20/2019 CS		(428,000	)		13,133
SINA US 2015 JAN 22.5 PUT 01/17/2015		3			5
SINA US 2016 JAN 20 PUT 01/15/2016		253			9,614
SINA US 2016 JAN 22.5 PUT 01/15/2016		323			21,157
SINA US 2016 JAN 50 PUT 01/15/2016		1			1,413
SKANDINAVISKA ENSKILDA BAN-A USD SWP CSFB		1,142			174
SKANDINAVISKA ENSKILDA SWP USD CS SHT		(1,142	)		(174)
SLHN VX 2015 DEC 240 CALL 12/18/2015		24			36,756
SLXP 2017 JAN 140 CALL 01/20/2017		(3	)		(4,425)
SM INVESTMENTS CORP 1.625% 17 CBS BOA		200,000			9,288
SM INVESTMENTS CORP 1.625% 17 CBS- DB		400,000			(44,000)
SM INVESTMENTS CORP BARC USD SWP		(6,022	)		(3,166)
SM INVESTMENTS CORP BOA USD SWP		(1,875	)		(798)
SM INVESTMENTS CORP SWP DB		(21,615	)		27,246
SM INVESTMENTS USD SWP MACQ		(11,680	)		(7,201)
SNAM RETE GAS CS SWP		70,103			708
SNDK 2015 JAN 20 PUT 01/17/2015		27			41
SNDK 2016 JAN 52.5 CALL 01/15/2016		(135	)		(628,088)
SOCIETE GENERALE USD SWP CS		4,697			382
SOCIETE GENERALE USD SWP CS SHORT		(4,697	)		(382)
SOFTBANK CORP MACQ USD SWP		(9,800	)		22,258
SOFTBANK CORP USD SWP NOM		(6,700	)		83,257
SOLD AUD/BOUGHT USD		—			125,613
SOLD BRL/BOUGHT USD		—			390,650
SOLD CAD/BOUGHT USD		—			20,737
SOLD CHF/BOUGHT USD		—			44,671
SOLD CNY/BOUGHT USD		—			6,952
SOLD DKK/BOUGHT USD		—			16,173
SOLD EUR/BOUGHT USD		—			1,342,684
SOLD GBP/BOUGHT USD		—			55,613
SOLD ILS/BOUGHT USD		—			48,239
SOLD INR/BOUGHT USD		—			12,562
SOLD JPY/BOUGHT USD		—			120,522
SOLD MXN/BOUGHT USD		—			186,224
SOLD MYR/BOUGHT USD		—			8,601
SOLD PLN/BOUGHT USD		—			101,140
SOLD SEK/BOUGHT USD		—			25,386
SOLD SGD/BOUGHT USD		—			32,049
SOLD USD/BOUGHT AUD		—			(1,281)
SOLD USD/BOUGHT BRL		—			(33,938)
SOLD USD/BOUGHT CAD		—			4,626
SOLD USD/BOUGHT CNY		—			(36,194)
SOLD USD/BOUGHT DKK		—			(18,674)
SOLD USD/BOUGHT EUR		—			(343,349)
SOLD USD/BOUGHT GBP		—			(14,197)
SOLD USD/BOUGHT ILS		—			(42,496)
SOLD USD/BOUGHT INR		—			(20,315)
SOLD USD/BOUGHT JPY		—			(4,000)
SOLD USD/BOUGHT MXN		—			(53,937)
SOLD USD/BOUGHT MYR		—			(12,207)
SOLD USD/BOUGHT SGD		—			(13,867)
SOLD ZAR/BOUGHT USD		—			1,547
SOLVAY SA SWP		(1,414	)		(6,516)
SONY CORP CS JPY SWP		22,900			95,377
SONY CORP JPY SWP CITI		31,000			107,323
SOURCE PHYSICAL GOLD P-ETC SWP		(67	)		(5,131)
SOUTH AFRICAN RAND SPOT		(26,363	)		(2,277)
SOUTHWESTERN ENERGY CO SWP CS		(26,835	)		134,312
SOUTHWESTERN ENERGY CO SWP MS		(21,814	)		112,605
SOYBEAN FTR OPTN FEB15 1000 PUT		(15,000	)		(2,269)
SOYBEAN FTR OPTN FEB15 1100 CALL		(15,000	)		(506)
SOYBEAN FUTURE JUL15		—			21,173
SOYBEAN FUTURE NOV15		—			(10,361)

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
SOYBEAN MEAL FUTR DEC15		—			(663)
SOYBEAN MEAL FUTR JUL15		—			(4,196)
SOYBEAN MEAL FUTR MAY15		—			7,354
SOYBEAN OIL FUTR DEC15		—			4,173
SPF 2016 JAN 7 CALL 01/15/2016		(184	)		(23,000)
SPF DFT 500 09/20/2017 MS		500,000			(50,527)
SPI 200 FUTURES MAR15		(1	)		(5,087)
SPX Dec15 1600 PUT		(26	)		(101,920)
SPX Dec15 1750 PUT		(27	)		(166,860)
SPX Dec15 2200 CALL		(53	)		(305,280)
SPX Dec15 2300 CALL		(107	)		(292,110)
SPX Dec15 2350 CALL		(26	)		(45,890)
SPX Jun15 1650 PUT		(79	)		(154,445)
SPX Jun15 1700 PUT		(79	)		(188,020)
SPX Jun15 1725 PUT		(54	)		(141,480)
SPX Jun15 1800 PUT		(26	)		(91,000)
SPX Jun15 2200 CALL		(26	)		(57,200)
SPX Mar15 1800 PUT		(79	)		(114,945)
SPX Sep15 1750 PUT		(54	)		(248,940)
SPX Sep15 1800 PUT		(26	)		(140,920)
SPX Sep15 2250 CALL		(26	)		(66,560)
SPY Feb15 188 PUT		(54	)		(6,912)
SPY Feb15 196 PUT		(160	)		(35,200)
SPY Feb15 205 PUT		211			91,363
SRG IM 2015 JUN 4.2 CALL 06/18/2015		90			19,222
SRG IM 2015 JUN 4.4 CALL 06/18/2015		68			8,722
SRG IM 2015 JUN 4.6 CALL 06/18/2015		45			3,322
SSAB AB - B SHARES SWP CITI		(1,223	)		353
SSAB AB - B SHARES SWP JPM		1,223			(275)
STANDARD BANK GROUP LTD		(98,205	)		(139,107)
STANDARD CHARTERED PLC USD SWP CS SHORT		(668	)		(343)
STANDARD CHARTERED USD CS SWP		668			343
STANDARD LIFE PLC SWP		(31,795	)		10,175
STANDARD PACIFIC DFT 500 20SEP2017 CITI		250,000			(25,263)
STARWOOD HOTELS & RESORTS SWP JPM		(515	)		(2,218)
STEINHOFF FIN HLDG 6.375 05/26/2017 CVB SWP CITI		400,000			11,960
STEINHOFF FINANCE HLDG 4 01/30/2021 CVB SWP CITI		400,000			18,479
STEINHOFF INTL HOLDINGS LTD SWP EUR CITI		(155,049	)		(41,204)
STOXX 600 HEALTH CARE PR IDX SWP CS		(326	)		(6,475)
STOXX 600 OPTIMISED FOOD AND BEVERAGE SWP JPM		(94	)		(6,563)
STOXX EUROPE 600 (PRICE) INDEX SWP CITI		(2,857	)		4,418
STOXX EUROPE 600 (PRICE) INDEX SWP UBS		(1,261	)		4,687
STOXX EUROPE 600 IDX SWP JPM		(2,254	)		(1,470)
STOXX INSURANCE 600 SWP CITI		(1,739	)		1,672
SUEDZUCKER AG SWP CS		(529	)		(1,098)
SUEDZUCKER AG SWP HSBC		1,988			2,246
SUEDZUCKER AG SWP JPM		2,895			4,495
SUEDZUCKER AG SWP SEB		(114	)		(52)
SUEDZUCKER AG SWP SG		(3,180	)		(5,301)
SUEDZUCKER AG SWP UBS		(1,060	)		(2,067)
SUGAR 11 (WORLD) MAR15		—			194,731
SUMITOMO ELECTRIC INDUSTRIES JPY SWP BOA		9,600			(5,418)
SUMITOMO ELECTRIC INDUSTRIES JPY SWP UBS		14,100			(10,432)
SUMITOMO MITSUI FINANCIAL USD SWP NOM		(4,900	)		21,977
SUMMIT MIDSTREAM PARTNERS LP CITI SWAP		(1,716	)		6,624
SUMMIT MIDSTREAM PARTNERS LP CS SWAP		(1,653	)		(8,899)
SVENSKA HANDELSBANKEN A-SHRS USD CS SHT		(296	)		(12)
SVENSKA HANDELSBANKEN-A SHS USD SWP CS		296			12
SWEDBANK AB - A SHARES USD SWP CS		556			86
SWEDBANK AB SWP USD CS SHT		(556	)		(86)
SWIRE PROPERTIES LTD HKD SWP HSBC		(43,400	)		(773)
SWISS LIFE HOLDING AG-REG SWP		(419	)		529
SWISS LIFE HOLDING SWAP CSFB		33			419
SWISS RE AG USD SWP CS		256			(345)
SWISS RE AG USD SWP CS SHORT		(256	)		345
SWU023N04 TRS USD		500			(285)
SWU023N46 TRS USD		500			(1,663)
SWU023T65 TRS USD		100			417
SWU023T99 TRS USD		100			347
SWU023Y69 TRS USD		700,000			8,476
SWU024TA4 TRS USD		200			824
SWU029LG8 TRS USD		176,000			18,841
SWU029LH6 TRS USD		145,000			(18,855)
SWU029LJ2 TRS USD		157,000			(20,602)
SWU029N84 TRS USD		1,800			(2,655)
SWU029NB7 TRS USD		(6,237,008	)		(306,900)
SWU029PE9 TRS USD		(595,462	)		(23,804)
SWU029PF6 TRS USD		(8,238,164	)		(352,502)
SWU029PH2 TRS USD		(2,988,008	)		(127,854)
SWU029PI0 TRS USD		(8,507,529	)		(364,028)
SWU029Q24 TRS USD		126,000			(14,457)
SWU029RA5 TRS USD		3,576			1,762
SWU077C10 TRS USD		910,000			13,355
SWU09H878 TRS USD		200			664
SWU09H886 TRS USD		200			861
SWU09P631 TRS USD		13,098			20,233
SWU0A0022 TRS USD		4,500			18,006
SWU0A0030 TRS USD		1,194			5,195

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
SWU0AT458 TRS USD		200			857
SWU0COM24 TRS USD		441			838
SWU0COM32 TRS USD		459			826
SWU0COM40 TRS USD		1,140			248
SWU0COMJ7 TRS USD		5,940			26,091
SWU0COMM0 TRS USD		23,850			86,880
SWU0COMN8 TRS USD		252,000			(26,406)
SWU0COMQ1 TRS USD		8,215			31,500
SWU0COMR9 TRS USD		6,882			(138)
SWU0COMS7 TRS USD		15,097			64,002
SWU0COMX6 TRS USD		3,000			(1,211)
SWU0CSA36 TRS USD		1,800			(3,060)
SWU0NA018 TRS USD		2,508			985
SWU0NA026 TRS USD		1,266			434
SWU0NA042 TRS USD		2,814			824
SWU0NA380 TRS USD		(26,294,948	)		(270,481)
SWU0NA398 TRS USD		(2,565,720	)		(26,052)
SWU0NB610 TRS USD		77,280			5,668
SWU0NB628 TRS USD		82,645			2,254
SWU0NB883 TRS USD		126,000			(10,066)
SWU0NB933 TRS USD		10,000			21,493
SWU0RS999 TRS USD		1,500			5,852
SWU0RSAA4 TRS USD		12,000			55,341
SWU0RSC46 TRS USD		284,091			(1,251)
SWU0RSD29 TRS USD		2,200			2,499
SWU0RSD37 TRS USD		3,600			4,018
SWU0RSKK1 TRS USD		126,000			(14,457)
SWU0RSKR6 TRS USD		377,358			(2,076)
SWU0RSR81 TRS USD		441			1,417
SWU0RSR99 TRS USD		459			1,429
SWU0RSRA6 TRS USD		2,670			1,315
SWU0RSRB4 TRS USD		94,000			5,582
SWU0RWGM3 TRS USD		6,549			10,510
SWU0RWW86 TRS USD		189,000			20,323
SWU0SPG39 TRS USD		8,900			2,577,420
SWU0VA001 TRS USD		104,167			1,104
SWU0VAR10 TRS USD		130,000			(15,428)
SWU0VAR28 TRS USD		160,000			15,589
SWU0VAR69 TRS USD		3,000			12,004
SWU0VARE2 TRS USD		196,850			6,886
SWU0VARM4 TRS USD		377,400			(1,921)
SWU0VARS1 TRS USD		100,000			(18,176)
SWU0VART9 TRS USD		120,000			16,511
SWU0WE077 TRS USD		(1,833,042	)		(73,113)
SX5E 2015 JAN 3325 CALL 01/16/2015 OTC MS		104			4,908
SYNGENTA AG-REG SWP		2,583			5,801
T NEW 2015 MAR 35 CALL 03/20/2015		192			7,488
T&D HOLDINGS INC CS JPY SWP		(5,000	)		(2,229)
T&D HOLDINGS INC MS JPY SWP		(5,500	)		(6,401)
T&D HOLDINGS INC USD SWP CS		1,515			(298)
T&D HOLDINGS INC USD SWP CS SHORT		(1,515	)		298
T&D HOLDINGS INC USD SWP NOM		(14,900	)		2,799
TAIWAN SEMICONDUCTOR SWP MS USD		(142,000	)		(70,043)
TAKEDA CHEMICAL CO LTD USD SWP NOM		(4,700	)		19,368
TASLY PHARMACEUTICAL GROUP GS USD SWP		58,700			(1,772)
TASLY PHARMACEUTICAL GROUP-A USD SWP CITI		10,500			(1,672)
TASLY PHARMACEUTICAL GROUP-A USD SWP HSBC		10,600			(1,133)
TASLY PHARMACEUTICAL GROUP-A USD SWP JPM		8,600			(1,795)
TATA MOTORS BOA USD SWP		17,507			(1,696)
TATA MOTORS CITI USD SWP		12,437			(5,105)
TATA MOTORS DB USD SWP		11,542			13,031
TATA MOTORS LTD USD JPM SWP		1,916			1,404
TATA MOTORS LTD USD MS SWP		6,703			15,955
TATA MOTORS NOM USD SWP		18,907			37,414
TATA MOTORS USD SWP BNP		13			1
TATA MOTORS USD SWP CS		10,856			14,501
TATA MOTORS USD SWP HSBC		28,711			(5,223)
TATA MOTORS USD SWP UBS		11,944			(2,562)
TECHNIP SA SWP		(3,120	)		(4,030)
TECO ENERGY INC SWP CS		(15,142	)		(59,663)
TEF SM 2015 SEP 11.5 PUT 09/18/2015		696			68,221
TELECOM ITALIA FIN SA 6.125 11/15/2016 SWP CITI		2,800,000			76,943
TELECOM ITALIA SPA SWP CITI		(3,046,417	)		(96,112)
TELEFONICA PARTICIPACION 4.9 09/17 SWP CITI		3,100,000			(9,091)
TELEFONICA SA SWP CITI		(150,454	)		53,909
TELSTRA CORP LTD		(131,690	)		(18,000)
THROMBOGENICS NV SWP CITI		(79	)		1,346
THROMBOGENICS NV SWP HSBC		396			(8,039)
THROMBOGENICS NV SWP UBS		(317	)		9,547
THYSSENKRUPP AG SWP		71,960			87,083
TINGYI (CAYMAN ISLN) HLDG CO HKD SWP HSBC		(12,000	)		1,248
TINGYI (CAYMAN ISLN) HLDG HKD SWP DB		(22,000	)		3,666
TINGYI (CAYMAN ISLN) HLDG HKD SWP UBS		(12,000	)		1,113
TIT IM 2016 DEC 0.68 PUT 12/16/2016		918			99,312
TIT IM 2016 DEC 0.8 PUT 12/16/2016		(750	)		(128,785)
TOKIO MARINE HOLDINGS INC USD SWP CS		2,743			74
TOKIO MARINE HOLDINGS INC USD SWP CS SHORT		(2,743	)		(74)
TOPIX INDX FUTR MAR15		(13	)		33,780

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
TOSHIBA CORP 460.8 PUT 09/11/2015		57,000			11,411
TOSHIBA CORP BOA JPY SWP		(49,000	)		(2,444)
TOSHIBA CORP CS JPY SWP		(49,000	)		(4,132)
TOYOTA MOTOR CORP NOM JPY SWP		2,700			16,792
TOYOTA MOTOR CORP SWP SG		1,500			17,856
TOYOTA MOTOR CS JPY SWP		600			5,459
TPK HOLDING CO LTD ASW 01OCT15 SCB		1,000,000			10
TRANSASIA AIRWAYS CORP ASW L+325 BAR 29NOV16		200,000			4,560
TRANSDIGM GROUP INC SWP CS		9,890			328,414
TRANSDIGM GROUP INC SWP MS		6,858			159,835
TRANSOCEAN LTD SWP CITI		(4,075	)		38,700
TRANSOCEAN LTD SWP CS		(815	)		8,849
TRANSOCEAN LTD SWP HSBC		4,890			(47,549)
TRANSOCEAN PARTNERS LLC SWP DB		(1,991	)		21,452
TRANSOCEAN PARTNERS LLC SWP UBS		(1,860	)		18,397
TRINA SOLAR LTD-ADR SWP BARC		(12,534	)		31,210
TRINA SOLAR SWP DB		(17,847	)		5,176
TRP CN 2015 FEB 56 CALL 02/20/2015 OTC NMRT		98			21,662
TRS USD R V 03MTBILL 1% 17 Feb 2015		8,799,397			438,624
TRUE TELECOM GROWTH INFRA FUND USD SWP BOA		14,000			179
TRUE TELECOM GROWTH INFRA FUND-F USD SWP JPM		442,700			1,314
TRUVO TALON WRT TALON EQUITY CO		33			—
TSL US 2016 JAN 4 PUT 01/15/2016		88			4,576
TSL US 2016 JAN 5 PUT 01/15/2016		347			25,158
TSL US 2017 JAN 3 PUT 01/20/2017		79			5,017
TSL US 2017 JAN 4 PUT 01/20/2017		13			1,437
TSLA 2015 JAN 30 PUT 01/17/2015		79			40
TSLA 2016 JAN 20 PUT 01/15/2016		53			1,140
TSN 2015 JAN 40 CALL 01/17/2015		97			10,185
TTWO 2016 JAN 20 CALL 01/15/2016		(135	)		(124,875)
TTWO 2016 JAN 5 PUT 01/15/2016		483			2,415
TTWO 2016 JAN 8 PUT 01/15/2016		45			225
TUI AG-DI SWP CITI		(8,360	)		2,841
TUI AG-NEW SWP CITI		8,378			(3,832)
TWC 2015 APR 120 PUT 04/17/2015		(84	)		(20,580)
TWC 2015 APR 150 CALL 04/17/2015		84			103,740
UAL Mar15 55 PUT		(104	)		(15,496)
UBS GROUP AG SWP		(12,509	)		(265)
UGI CORP SWP CS		(19,402	)		(280,836)
UGI CORP SWP DB		(2,970	)		(24,420)
UL NA 2015 JUN 200 CALL 06/19/2015		12			24,367
UL NA 2015 SEP 220 CALL 09/18/2015		24			18,529
UMC USD SWAP BOA		(847,000	)		9,481
UNIBAIL-RODAMCO SE SWP CS		1,178			12,167
UNIBAIL-RODAMCO SE SWP NRMA		(857	)		(4,252)
UNICREDIT SPA USD SWP CSFB		24,257			(1,359)
UNICREDIT SPA USD SWP CSFB SHORT		(24,257	)		1,359
UNIPOLSAI SPA USD SWP CS		7,237			(156)
UNIPOLSAI SPA USD SWP CS SHORT		(7,237	)		156
UNITED MICROELECTRONICS CORP JPM USD SWP		(47,000	)		(3,293)
UNITED OVERSEAS BANK LTD USD SWP CS		790			384
UNITED OVERSEAS BANK SWP USD CS SHT		(790	)		(384)
US 10YR NOTE (CBT)MAR15		(5	)		3,890
US 2YR NOTE (CBT) MAR15		(3	)		750
US 5YR NOTE (CBT) MAR15		(42	)		5,102
US BANCORP SWP CS SHT		(105	)		26
US BANKCORP SWP CSFB		105			(26)
US DOLLAR Forward		(4,070,072	)		—
US DOLLARSPOT FORWARD		(11,083	)		(11,083)
US LONG BOND(CBT) MAR15		(19	)		(94,797)
US STEEL DFT 500 06/20/2019 BOA4		200,000			(10,000)
US ULTRA BOND(CBT MAR15		—			(33,125)
USD CALL / CNY PUT 6.51 23APR15 RBS		4,300,000			5,522
USD CALL / JPY PUT 125 05APR21 ML		1,400,000			84,398
USD CALL / JPY PUT K= 125 12MAR21 JPM		1,000,000			58,351
USD CALL / JPY PUT K= 125 12MAR21 UBS		1,000,000			62,250
USD CALL / JPY PUT K=125 01APR21 JPM		1,000,000			58,520
USD CALL / JPY PUT K=125 01APR21 UBS		1,000,000			62,443
USD CALL / JPY PUT K=125 11MAR21 BZW		1,000,000			60,379
USD CALL / JPY PUT K=125 15MAR21 UBS		1,000,000			62,273
USD CALL / JPY PUT K=135 18FEB22 ML		1,000,000			48,039
USD/AUD FWD 01-07-2015 LONG		1,147,086			—
USD/AUD FWD 01-07-2015 SHORT		(1,350,000	)		44,398
USD/AUD FWD 01-15-2015 LONG		288,883			—
USD/AUD FWD 01-15-2015 SHORT		(350,000	)		3,187
USD/BRL FWD 01-05-2015 LONG		548,687			—
USD/BRL FWD 01-05-2015 SHORT		(1,418,357	)		13,435
USD/BRL FWD 01-30-2015 LONG		524,831			—
USD/BRL FWD 01-30-2015 SHORT		(1,418,357	)		(6,390)
USD/CAD FWD 01-07-2015 LONG		5,462,776			—
USD/CAD FWD 01-07-2015 SHORT		(6,250,000	)		87,949
USD/CAD FWD 01-12-2015 LONG		5,406,422			—
USD/CAD FWD 01-12-2015 SHORT		(6,300,000	)		(10,640)
USD/CAD FWD 01-14-2015 LONG		2,922,317			—
USD/CAD FWD 01-14-2015 SHORT		(3,400,000	)		(1,013)
USD/CAD FWD 01-20-2015 LONG		8,099,294			—
USD/CAD FWD 01-20-2015 SHORT		(9,400,000	)		18,512
USD/CNY FWD 01-14-2015 LONG		1,449,323			—

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
USD/CNY FWD 01-14-2015 SHORT		(8,900,000	)		(144)
USD/CNY FWD 01-15-2015 LONG		1,232,480			—
USD/CNY FWD 01-15-2015 SHORT		(7,562,500	)		1,057
USD/CNY FWD 01-20-2015 LONG		3,350,223			—
USD/CNY FWD 01-20-2015 SHORT		(20,562,500	)		4,903
USD/CNY FWD 01-22-2015 LONG		3,711,100			—
USD/CNY FWD 01-22-2015 SHORT		(22,812,500	)		1,025
USD/CNY FWD 01-23-2015 LONG		1,317,266			—
USD/CNY FWD 01-23-2015 SHORT		(8,100,000	)		166
USD/CNY FWD 04-27-2015 LONG		103,680			—
USD/CNY FWD 04-27-2015 SHORT		(655,000	)		(1,509)
USD/DKK FWD 01-07-2015 LONG		48,690			—
USD/DKK FWD 01-07-2015 SHORT		(290,000	)		1,557
USD/DKK FWD 01-15-2015 LONG		59,596			—
USD/DKK FWD 01-15-2015 SHORT		(360,000	)		1,084
USD/EUR FWD 01-08-2015 LONG		249,141			—
USD/EUR FWD 01-08-2015 SHORT		(200,000	)		7,107
USD/EUR FWD 01-15-2015 LONG		866,895			—
USD/EUR FWD 01-15-2015 SHORT		(700,000	)		19,744
USD/EUR FWD 01-16-2015 LONG		5,358,965			—
USD/EUR FWD 01-16-2015 SHORT		(4,300,000	)		155,010
USD/EUR FWD 01-21-2015 LONG		6,948,895			—
USD/EUR FWD 01-21-2015 SHORT		(5,610,000	)		159,368
USD/GBP FWD 01-08-2015 LONG		3,305,889			—
USD/GBP FWD 01-08-2015 SHORT		(2,100,000	)		33,450
USD/GBP FWD 01-15-2015 LONG		6,677,481			—
USD/GBP FWD 01-15-2015 SHORT		(4,250,000	)		55,307
USD/GBP FWD 01-20-2015 LONG		43,801			—
USD/GBP FWD 01-20-2015 SHORT		(27,987	)		197
USD/GBP FWD 01-21-2015 LONG		1,802,599			—
USD/GBP FWD 01-21-2015 SHORT		(1,150,000	)		10,860
USD/HKD FWD 01-07-2015 LONG		1,676,187			—
USD/HKD FWD 01-07-2015 SHORT		(13,000,000	)		22
USD/HKD FWD 01-08-2015 LONG		7,840,840			—
USD/HKD FWD 01-08-2015 SHORT		(60,800,000	)		1,595
USD/HKD FWD 01-15-2015 LONG		9,789,635			—
USD/HKD FWD 01-15-2015 SHORT		(75,900,000	)		3,890
USD/HKD FWD 01-20-2015 LONG		3,805,028			—
USD/HKD FWD 01-20-2015 SHORT		(29,500,000	)		1,725
USD/HKD FWD 01-28-2015 LONG		6,719,389			—
USD/HKD FWD 01-28-2015 SHORT		(52,100,000	)		2,698
USD/HUF FWD 01-07-2015 LONG		19,558			—
USD/HUF FWD 01-07-2015 SHORT		(4,800,000	)		1,211
USD/INR FWD 01-12-2015 LONG		2,068,495			—
USD/INR FWD 01-12-2015 SHORT		(128,950,000	)		33,354
USD/INR FWD 01-20-2015 LONG		606,603			—
USD/INR FWD 01-20-2015 SHORT		(38,950,000	)		(7,152)
USD/JPY FWD 01-07-2015 LONG		3,778,065			—
USD/JPY FWD 01-07-2015 SHORT		(455,000,000	)		(17,540)
USD/JPY FWD 01-08-2015 LONG		834,250			—
USD/JPY FWD 01-08-2015 SHORT		(100,000,000	)		49
USD/JPY FWD 01-15-2015 LONG		4,394,892			—
USD/JPY FWD 01-15-2015 SHORT		(515,000,000	)		98,652
USD/JPY FWD 01-21-2015 LONG		6,965,212			—
USD/JPY FWD 01-21-2015 SHORT		(830,000,000	)		41,037
USD/KRW FWD 01-20-2015 LONG		302,253			—
USD/KRW FWD 01-20-2015 SHORT		(330,000,000	)		798
USD/KRW FWD 01-22-2015 LONG		1,656,543			—
USD/KRW FWD 01-22-2015 SHORT		(1,830,000,000	)		(15,000)
USD/NOK FWD 01-15-2015 LONG		329,644			—
USD/NOK FWD 01-15-2015 SHORT		(2,400,000	)		8,754
USD/NZD FWD 01-15-2015 LONG		62,128			—
USD/NZD FWD 01-15-2015 SHORT		(80,000	)		(155)
USD/PLN FWD 01-15-2015 LONG		14,837			—
USD/PLN FWD 01-15-2015 SHORT		(50,000	)		727
USD/SEK FWD 01-15-2015 LONG		741,768			—
USD/SEK FWD 01-15-2015 SHORT		(5,600,000	)		23,377
USD/SGD FWD 01-08-2015 LONG		651,086			—
USD/SGD FWD 01-08-2015 SHORT		(850,000	)		9,221
USD/SGD FWD 01-12-2015 LONG		530,128			—
USD/SGD FWD 01-12-2015 SHORT		(700,000	)		1,600
USD/THB FWD 01-23-2015 LONG		236,149			—
USD/THB FWD 01-23-2015 SHORT		(7,800,000	)		(689)
USD/ZAR FWD 01-21-2015 LONG		64,354			—
USD/ZAR FWD 01-21-2015 SHORT		(750,000	)		(258)
UTILITIES SELECT SECTOR SWP CITI		(21,091	)		(20,880)
UTX 2015 FEB 115 CALL 02/20/2015		389			126,425
VALEBZ DFT 100 03/20/2015 DB		500,000			88
VALEO SA SWP		(1,268	)		(25,213)
VALIDUS HOLDINGS LTD		64,500			1,551,870
VERSO TENDER WARRANTS		1,299			—
VESTAS WIND SYSTEMS A/S SWP		(2,707	)		(7,516)
VIAB 2015 JAN 80 CALL 01/17/2015		80			2,600
VINCOM JSC 5 04/03/2017 CS USD SWP		600,000			148,500
VINCOM JSC MS USD SWP		(143,673	)		1,966
VINCOM JSC USD CS SWP		(76,016	)		120,036
VINCOM JSC USD DB SWP		(102,933	)		11,186
VIVENDI SWP		31,473			64,086

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
VOLKSWAGEN AG SWP CITI		(308	)		404
VOLKSWAGEN INTL FIN NV 5.5 11/09/15 144A SWP CITI		600,000			8,047
VOLKWAGEN 5.5 11/15 CVB SWP CITI		500,000			9,560
VOW3 GY 2015 DEC 145 PUT 12/18/2015		46			28,278
VOW3 GY 2015 DEC 170 CALL 12/18/2015		(20	)		(56,705)
VOW3 GY 2015 DEC 175 CALL 12/18/2015		(38	)		(93,669)
VOYA Feb15 40 CALL		158			57,038
VOYA Feb15 42 CALL		106			18,285
WAL-MART STORES INC UBS		(11,927	)		(109,170)
WANT WANT CHINA HOLDINGS SWP BNP		(6,000	)		208
WANT WANT CHINA HOLDINGS SWP HSBC		(55,000	)		(3,343)
WANT WANT CHINA HOLDINGS SWP JPM		(51,000	)		713
WASTE MANAGEMENT SWP BOA		(1,649	)		(13,275)
WASTE MANAGEMENT SWP JPM		(300	)		(1,051)
WBA 2015 JAN 70 CALL 01/17/2015		632			404,480
WBA 2015 JAN 72.5 CALL 01/17/2015		39			16,088
WBMD 2015 JAN 17.5 PUT 01/17/2015		71			355
WBMD 2016 JAN 65 CALL 01/15/2016		1			105
WEICHAI POWER CO LTD - H SWP CITI		(16,000	)		(7,410)
WEICHAI POWER CO LTD - H SWP DB		(23,000	)		(22,310)
WEICHAI POWER CO LTD - H SWP SG		(12,000	)		(5,996)
WEICHAI POWER CO LTD-A USD SWP CITI		22,200			34,123
WEICHAI POWER CO LTD-A USD SWP DB		26,000			39,223
WEICHAI POWER CO LTD-A USD SWP SG		15,800			24,106
WEIR GROUP PLC SWP		(2,105	)		(5,609)
WELLS FARGO & CO SWP CS		2,288			847
WELLS FARGO SWP CS SHT		(2,288	)		(847)
WESTERN GAS EQUITY PARTNERS SWP JPM		(5,131	)		(76,592)
WESTPAC BANKING SWP CS SHT		(4,631	)		(1,111)
WESTPAC BANKING SWP CSFB		4,631			1,111
WHARF HOLDINGS BOA HKD SWP		(20,000	)		(1,701)
WHEAT FTR OPTN MAR15 575 PUT		60,000			9,450
WHEAT FUTURE(CBT) DEC15		—			(934)
WHEAT FUTURE(CBT) JUL15		—			(15,170)
WHEAT FUTURE(CBT) MAR15		—			(35,915)
WHITBREAD PLC SWP		13,277			92,517
WHITE SUGAR (ICE) MAR15		—			(133,415)
WHITEHAVEN COAL LTD AUD SWP CS		(222,377	)		22,609
WHITEHAVEN COAL LTD AUD SWP MACQ		(9,764	)		1,397
WHITEHAVEN COAL LTD CITI AUD SWP		(36,663	)		1,532
WILLIAMS PARTNERS LP SWP JPM		(1,761	)		6,665
WINDSTREAM HLDGS INC SWP CS		3,242			(14,232)
WMT 2015 JAN 85 CALL 01/17/2015		262			42,837
WOOLWORTHS LIMITED AUD SWP CITI		(5,077	)		5,927
WOOLWORTHS LIMITED AUD SWP UBS		(7,379	)		13,109
WOORI BANK USD SWP CS		357			(121)
WOORI BANK USD SWP CS SHORT		(357	)		121
WORLD DUTY FREE SPA SWP		59,741			10,809
WTI CRUDE FUTURE DEC15		—			908,140
WTI CRUDE FUTURE DEC16		—			610,247
WTI CRUDE FUTURE DEC17		—			23,341
WTI CRUDE FUTURE DEC18		—			446
WTI CRUDE FUTURE DEC19		—			(23,860)
WTI CRUDE FUTURE FEB15		—			138,039
WTI CRUDE FUTURE JUN15		—			619,543
WTI CRUDE FUTURE JUN16		—			(931,413)
WTI CRUDE FUTURE MAR15		—			161,414
WTI CRUDE FUTURE OCT15		—			(68,499)
WTI CRUDE FUTURE SEP15		—			(1,307,916)
WTI CRUDE FUTURE SEP16		—			(99,840)
WTI CRUDE FUTURE FEB15 PHYS NYM		2			(5,500)
WYNN MACAU LTD BNP HKD SWP		(1,600	)		1,257
WYNN MACAU LTD HKD SWP BAR		(3,200	)		2,401
WYNN MACAU LTD HKD SWP CS		(18,400	)		14,731
WYNN MACAU LTD NOM HKD SWP		(17,200	)		11,981
WYNN MACAU MACQ HKD SWP		(7,200	)		4,115
XOM 2015 JAN 100 CALL 01/17/2015		545			1,363
YAHOO JAPAN CORP CS JPY SWP		(37,900	)		(829)
YAHOO JAPAN CORP DB JPY SWP		(50,300	)		(266)
YAHOO JAPAN CORP JPM JPY SWP		(31,800	)		3,269
YAMAHA MOTOR CS JPY SWP		3,000			651
YANGZIJIANG SHIPBLDG 7.617 CNY CL WRT CITI 29APR16		1,500,000			60,131
YANGZIJIANG SHIPBUILDING SWP CITI		(375,000	)		(39,656)
YASKAWA ELEC 45 ASW 16MAR17 NOM		15,000,000			52,643
YES BANK USD SWP CITI		21,664			44,876
YES BANK USD SWP JPM		27,086			68,747
YES BANK USD SWP MS		6,045			14,327
YHOO 2015 FEB 45 PUT 02/20/2015		(299	)		(31,395)
YHOO 2015 FEB 50 CALL 02/20/2015		299			102,408
YHOO 2015 FEB 60 CALL 02/20/2015		(597	)		(33,731)
YPF S.A.-SPONSORED ADR SWP CSCAP		(13,906	)		146,502
YY 2016 JAN 25 PUT 01/15/2016		53			6,493
ZHEN DING ASW L+250 07JUN15 SCB		100,000			3,840
ZHEN DING TECHNOLOGY NOM USD SWP		(23,000	)		12,542
ZHEN DING TECHNOLOGY USD SWP BOA		(3,000	)		1,681
ZHEN DING TECHNOLOGY USD SWP CS		(5,000	)		1,281
ZHEN DING TECHNOLOGY USD SWP DB		(8,300	)		(2,730)
ZHEN DING TECHNOLOGY USD SWP MACQ		(3,000	)		1,626

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
ZOOPLA PROPERTY GROUP PLC SWP		48,811			(17,876)


Total Derivatives		(1,896,204,142	)	$	13,326,795


Preferred Stock
ADLAC 5.5% SERIES D ESC		3,100		$	—
ADLAC 7.5% 05 F ESCROW		182,700			—
ADLAC 7.5% 11/04 ESCROW		9,200			—
ARCELORMITTAL 6% 01/15/2016 PFD		90,890			1,605,308
ATLAS PIPELINE PARTNERS LP		179,046			4,783,178
BANCOLOMBIA SA PREF		6,253			75,357
BEAZER HOMES USA 7.5% PFD		4,683			139,064
CIA BRASILEIRA DE DIS PREF		22,617			839,182
EMBOTELLADORA ANDINA A PREF		31,006			75,209
EMBOTELLADORA ANDINA PREF B		16,946			48,530
EXELON CORP 6.5 CVB PFD		(3,298	)		(176,047)
FANNIE MAE 8.25 SER S PFD		32,900			127,323
FIAT CHRYSLER AUTOMOBILE 7.875 12/15/2016 PFD CPM		34,100			3,634,405
FMCC 5.57		18,400			52,624
FMCC 6.02		6,900			20,079
FNMA 4 3/4		12,100			70,180
FNMA 5 1/2		25,800			141,900
FNMA 8 1/4		113,800			440,406
FREDDIE MAC 8.375 SER Z PERP PFD		37,132			146,671
FUCHS PETROLUB SE PREF		21,310			858,551
GERDAU SA PREF		15,537			55,994
ITAU UNIBANCO HOLDING S PREF		26,300			342,329
ITAUSA INVESTIMENTOS ITAU PR		226,382			799,687
MOTORS LIQUIDATION CO		8,375			—
MOTORS LIQUIDATION CO ESCROW		17,985			—
NAVIENT CORP		900			21,825
NEXTERA ENERGY INC 5.889 09/01/15 PFD		10,330			692,261
SAMSUNG ELECTRONICS PREF		1,760			1,663,686
TYSON FOODS INC 4.75 CONV PFD		10,508			529,469
VIVARTE NEW M SHS		296			—
VIVARTE NRD A SHS		17,779			—
VIVARTE NRD B ORA		112			—
WILLIAM LYON HOMES INC 6.5 PFD		1,314			140,778


Total Preferred Stock		1,183,163		$	17,127,950


Real Estate Investments
ACADIA REALTY TRUST		96,843		$	3,101,881
ALEXANDRIA REAL ESTATE EQUIT		15,800			1,402,092
AMERICAN ASSETS TRUST INC		24,805			987,487
AMERICAN CAPITAL MORTGAGE IN		46,787			881,467
AVALONBAY COMMUNITIES INC		40,880			6,679,383
AVIV REIT INC		25,050			863,724
BOSTON PROPERTIES INC		64,530			8,304,366
BRANDYWINE REALTY TRUST		236,930			3,786,141
CAMDEN PROPERTY TRUST		23,370			1,725,641
CBL + ASSOCIATES PROPERTIES		77,110			1,497,476
CHATHAM LODGING TRUST		21,215			614,599
CHESAPEAKE LODGING TRUST		36,450			1,356,305
COLUMBIA PROPERTY TRUST INC		15,210			385,574
CORESITE REALTY CORP		27,375			1,068,994
COUSINS PROPERTIES INC		40,715			464,965
CROWN CASTLE INTL CORP		77,167			6,073,043
CUBESMART		75,850			1,674,010
CYRUSONE INC		72,530			1,998,202
DDR CORP		186,590			3,425,792
DIGITAL REALTY TRUST INC		9,055			600,347
DUKE REALTY CORP		154,730			3,125,546
DUPONT FABROS TECHNOLOGY		(29,091	)		(966,985)
EDUCATION REALTY TRUST INC		74,496			2,725,809
EMPIRE STATE REALTY TRUST A		176,235			3,098,211
EQUITY COMMONWEALTH		81,680			2,096,726
EQUITY RESIDENTIAL		73,220			5,260,125
ESSEX PROPERTY TRUST INC		45,950			9,493,270
EXCEL TRUST INC		49,440			662,002
EXTRA SPACE STORAGE INC		26,330			1,543,991
FEDERAL REALTY INVS TRUST		14,240			1,900,470
GENERAL GROWTH PROPERTIES		307,710			8,655,882
HEALTH CARE REIT INC		110,660			8,373,642
HIGHWOODS PROPERTIES INC		89,750			3,974,130
HOST HOTELS + RESORTS INC		302,890			7,199,695
HUDSON PACIFIC PROPERTIES IN		138,460			4,162,108
KILROY REALTY CORP		56,130			3,876,899
KIMCO REALTY CORP		128,810			3,238,283
KITE REALTY GROUP TRUST		88,805			2,552,256
LIBERTY PROPERTY TRUST		139,830			5,261,803
MACK CALI REALTY CORP		27,710			528,153
MID AMERICA APARTMENT COMM		36,390			2,717,605
MONMOUTH REAL ESTATE INV COR		80,460			890,692
NATIONAL RETAIL PROPERTIES		49,210			1,937,398
NATL HEALTH INVESTORS INC		36,820			2,575,927

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including maturity date, rate of interest, collateral, par, or maturity value	Shares/ Par Value			Current Value
NORTHSTAR REALTY FINANCE		38,710			680,522
OMEGA HEALTHCARE INVESTORS		31,420			1,227,579
PARAMOUNT GROUP INC		77,500			1,440,725
PARKWAY PROPERTIES INC		113,640			2,089,840
PEBBLEBROOK HOTEL TRUST		62,899			2,870,081
PROLOGIS INC		202,360			8,707,551
PS BUSINESS PARKS INC/CA		35,860			2,852,304
PUBLIC STORAGE		41,840			7,734,124
QTS REALTY TRUST INC CL A		1,990			67,342
RAMCO GERSHENSON PROPERTIES		104,490			1,958,143
REALTY INCOME CORP		(23,468	)		(1,119,658)
REGENCY CENTERS CORP		44,210			2,819,714
RETAIL OPPORTUNITY INVESTMEN		165,310			2,775,555
RETAIL PROPERTIES OF AME A		101,460			1,693,367
REXFORD INDUSTRIAL REALTY IN		67,460			1,059,797
RLJ LODGING TRUST		64,435			2,160,506
SIMON PROPERTY GROUP INC		89,850			16,362,584
SL GREEN REALTY CORP		38,860			4,625,117
SOVRAN SELF STORAGE INC		32,120			2,801,506
SPIRIT REALTY CAPITAL INC		278,880			3,315,883
STAG INDUSTRIAL INC		67,430			1,652,035
STORE CAPITAL CORP		115,390			2,493,578
STRATEGIC HOTELS + RESORTS I		237,930			3,147,814
SUNSTONE HOTEL INVESTORS INC		267,470			4,415,930
TANGER FACTORY OUTLET CENTER		61,400			2,269,344
UDR INC		236,550			7,290,471
VENTAS INC		127,210			9,120,957
VORNADO REALTY TRUST		63,390			7,461,637
WASHINGTON REIT		80,710			2,232,439



Total Real Estate Investments		6,302,433		$	237,981,910




Total Investments, at Fair Value		1,161,395,393		$	6,356,652,974


* Notes Receivable from Participants with interest rates ranging from 3.25% to 9.25%				$	27,531,666


Total Assets Held at End of Year				$	6,384,184,640

*	Denotes party-in-interest

The Goldman Sachs 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Acquired and

Disposed of Within Year)

December 31, 2014


Identity of issue, borrower, lessor, or similar party including Maturity Date, Rate of Interest, Collateral, Par, or Maturity Value	Shares / Par Value			Costs of Acquisitions			Proceeds of Dispositions
FDC 11.75 8/21		384,000			(383,520	)		429,120
FDC14.5 9/24/19		8,785,770			(8,644,636	)		9,394,204
INEGRP6.125%_18		(650,000	)		(623,450	)		649,100
PNK6.375% 80121		(220,000	)		(233,200	)		235,675
ASPECT SOFTWARE TL B 1L USD		38,000			(38,444	)		37,815
ASURION TL 2L USD		1,262,800			(1,243,767	)		1,293,302
EDUCATION MANAGEMENT TL C2 1L USD		40,000			(29,800	)		31,700
HEMA TL B		21,394			(27,455	)		28,974
HEMA TLC		21,394			(27,455	)		28,974
ROYAL IMTECH NV E+375 15JUL17		263,158			(235,057	)		266,237
ROYAL IMTECH NV E+375 15JUL17 PIK		8,940			(9,198	)		9,045
INDIANA TOLL ROAD TL A DB		591,066			(412,268	)		449,949
INDIANA TOLL ROAD TL B DB DEXIA		27,299			(19,041	)		20,781
INDIANA TOLL ROAD TL C DB DEXIA		95,544			(54,519	)		60,610
IVG CONCRETE PRE-FUND I TL-18K DEAL GLOBAL PIK TGL		13			(18	)		17
IVG CONCRETE PRE-FUND2 TLA1 7M DEAL GLOBAL PIK TGL		2,906			(3,959	)		3,882
LATECOERE TL B SR EUR		10,526			(9,857	)		9,956
LYB C98 TRADE CLAIM 01/31/2025		347,000			(67,665	)		71,135
NANJING TANKER TL AGATE VESSEL A TRANCHE 06OCT2020		18,421			(15,243	)		16,255
NANJING TANKER TL CRYSTAL VESL B TRANCHE 05JAN2021		18,793			(15,551	)		16,582
NANJING TANKER TL NAPOLEON B 16SEP2021		21,770			(18,015	)		19,145
NANJING TANKER TL NAPPA A 06JUN2021		23,587			(19,518	)		20,749
PHS GROUP PLC TL C		22,879			(28,936	)		28,867
HAMILTON SUNSTRAND / ACCUDYNE TL B 1L US		149,743			(149,555	)		149,372
SUN PRODUCTS TL B 1L US		301,000			(287,626	)		281,777
WALTER ENERGY TL B 1L USD		170,000			(154,225	)		145,225

The Goldman Sachs 401(k) Plan

Schedule G, Part 1 - Schedule of Loans or Fixed Income Obligations in Default or Classified as Uncollectible

December 31, 2014


	(b)	(c)		Amount received during reporting year		(f)		(g) Detailed description of loan including dates of making and maturity, interest rate, the type and value of collateral,	Amount overdue
	Identity and address of obligor	Original amount		(d)	(e)	Unpaid balance at year end		any renegotiation of the loan and the terms of the	(h)		(i)
(a)	Identity and address of obligor	of loan (par value)		Principal	Interest	Unpaid balance at year end		renegotiation and other material matters	Principal		Interest		Steps taken or will be taken to collect overdue amounts
	Evergreen Solar Inc, 138 Bartlett Street, Marlboro, MA 01752, United States		30,000				16,947	Issue Date: 4/26/2010, Maturity Date: 4/15/2015,Collateral Type:SR SECURED,Interest Rate:13		—		7,552	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Evergreen Solar Inc, 138 Bartlett Street, Marlboro, MA 01752, United States		36,669				20,000	Issue Date: 7/2/2008, Maturity Date: 7/15/2013,Collateral Type:SR UNSECURED,Interest Rate:4		20,000		1,556	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		55,525				50,000	Issue Date: 3/5/2007, Maturity Date: 3/5/2010,Collateral Type:SR UNSECURED,Interest Rate:0		50,000		—	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		390,951				386,000	Issue Date: 4/5/2004, Maturity Date: 4/5/2011,Collateral Type:SR UNSECURED,Interest Rate:0		386,000		—	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		84,000				84,000	Issue Date: 5/4/2006, Maturity Date: 5/4/2011,Collateral Type:SR UNSECURED,Interest Rate:0		84,000		—	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		150,000				150,000	Issue Date: 5/19/2006, Maturity Date: 5/19/2016,Collateral Type:SR UNSECURED,Interest Rate:0		—		—	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		560,000				560,000	Issue Date: 7/20/2005, Maturity Date: 7/20/2012,Collateral Type:SR UNSECURED,Interest Rate:0		560,000		—	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		239,000				239,000	Issue Date: 12/21/2006, Maturity Date: 12/23/2008,Collateral Type:SR UNSECURED,Interest Rate:0		239,000		—	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		252,000				252,000	Issue Date: 8/21/2006, Maturity Date: 8/21/2009,Collateral Type:SR UNSECURED,Interest Rate:0		252,000		—	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		67,000				67,000	Issue Date: 4/3/2006, Maturity Date: 4/3/2009,Collateral Type:SR UNSECURED,Interest Rate:0		67,000		—	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		2,450,000				2,450,000	Issue Date: 9/28/2007, Maturity Date: 1/14/2009,Collateral Type:SR UNSECURED,Interest Rate:0		2,450,000		—	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		3,050,000				3,050,000	Issue Date: 3/23/2007, Maturity Date: 3/23/2009,Collateral Type:SR UNSECURED,Interest Rate:0		3,050,000		—	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		43,000				43,000	Issue Date: 10/25/2006, Maturity Date: 10/25/2011,Collateral Type:SR UNSECURED,Interest Rate:0		43,000		—	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		388,054				374,000	Issue Date: 11/9/2004, Maturity Date: 11/9/2009,Collateral Type:SR UNSECURED,Interest Rate:0		374,000		—	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		363,000				363,000	Issue Date: 1/12/2007, Maturity Date: 1/12/2012,Collateral Type:SR UNSECURED,Interest Rate:0		363,000		—	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		11,000				11,000	Issue Date: 5/19/2008, Maturity Date: 5/19/2023,Collateral Type:SR UNSECURED,Interest Rate:0		—		—	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		1,000				1,000	Issue Date: 6/22/2007, Maturity Date: 6/22/2022,Collateral Type:SR UNSECURED,Interest Rate:11		—		702	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		962,000				962,000	Issue Date: 10/25/2004, Maturity Date: 11/10/2009,Collateral Type:SR UNSECURED,Interest Rate:3.95		962,000		44,438	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		2,546,000				2,546,000	Issue Date: 3/9/2005, Maturity Date: 3/9/2015,Collateral Type:SR UNSECURED,Interest Rate:4		—		650,079	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		151,000				151,000	Issue Date: 5/4/2006, Maturity Date: 5/4/2011,Collateral Type:SR UNSECURED,Interest Rate:4		151,000		16,123	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		219,000				219,000	Issue Date: 7/13/2005, Maturity Date: 7/26/2010,Collateral Type:SR UNSECURED,Interest Rate:4.5		219,000		18,588	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		603,000				603,000	Issue Date: 2/25/2004, Maturity Date: 3/13/2014,Collateral Type:SR UNSECURED,Interest Rate:4.8		603,000		161,202	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		416,000				416,000	Issue Date: 1/12/2007, Maturity Date: 2/6/2012,Collateral Type:SR UNSECURED,Interest Rate:5.25		416,000		75,166	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		698,000				698,000	Issue Date: 3/29/2006, Maturity Date: 4/4/2016,Collateral Type:SR UNSECURED,Interest Rate:5.5		—		245,056	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.

The Goldman Sachs 401(k) Plan

Schedule G, Part 1 - Schedule of Loans or Fixed Income Obligations in Default or Classified as Uncollectible

December 31, 2014


	(b)	(c)		Amount received during reporting year		(f)		(g) Detailed description of loan including dates of making and maturity, interest rate, the type and value of collateral,	Amount overdue
	Identity and address of obligor	Original amount		(d)	(e)	Unpaid balance at year end		any renegotiation of the loan and the terms of the	(h)		(i)
(a)	Identity and address of obligor	of loan (par value)		Principal	Interest	Unpaid balance at year end		renegotiation and other material matters	Principal		Interest		Steps taken or will be taken to collect overdue amounts
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		18,000				18,000	Issue Date: 3/4/2003, Maturity Date: 2/27/2020,Collateral Type:SR UNSECURED,Interest Rate:5.5		—		6,320	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		17,000				17,000	Issue Date: 3/15/2005, Maturity Date: 3/15/2030,Collateral Type:SR UNSECURED,Interest Rate:5.625		—		6,104	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		25,000				25,000	Issue Date: 12/14/2004, Maturity Date: 12/14/2029,Collateral Type:SR UNSECURED,Interest Rate:5.7		—		9,096	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		258,000				258,000	Issue Date: 5/16/2006, Maturity Date: 5/17/2013,Collateral Type:SR UNSECURED,Interest Rate:5.75		258,000		70,260	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		328,000				328,000	Issue Date: 7/18/2006, Maturity Date: 7/18/2011,Collateral Type:SR UNSECURED,Interest Rate:5.75		328,000		54,275	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		306,000				306,000	Issue Date: 5/26/2006, Maturity Date: 4/25/2011,Collateral Type:SR UNSECURED,Interest Rate:5.75		306,000		46,529	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		462,000				462,000	Issue Date: 4/4/1991, Maturity Date: 4/1/2011,Collateral Type:SR UNSECURED,Interest Rate:6		462,000		71,456	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		2,698,000				2,698,000	Issue Date: 7/19/2007, Maturity Date: 7/19/2012,Collateral Type:SR UNSECURED,Interest Rate:6		2,698,000		630,882	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		2,215,000				2,215,000	Issue Date: 9/26/2007, Maturity Date: 9/26/2014,Collateral Type:SR UNSECURED,Interest Rate:6.2		2,215,000		840,002	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		21,000				21,000	Issue Date: 2/13/2007, Maturity Date: 2/13/2037,Collateral Type:SR UNSECURED,Interest Rate:6.5		—		8,713	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		4,992,000				4,992,000	Issue Date: 1/10/2002, Maturity Date: 1/18/2012,Collateral Type:SR UNSECURED,Interest Rate:6.625		4,992,000		1,120,773	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		27,000				27,000	Issue Date: 9/28/2007, Maturity Date: 9/28/2037,Collateral Type:SR UNSECURED,Interest Rate:7		—		12,065	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		12,000				12,000	Issue Date: 11/14/2007, Maturity Date: 11/16/2037,Collateral Type:SR UNSECURED,Interest Rate:7		—		5,362	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		220,000				220,000	Issue Date: 8/15/2000, Maturity Date: 8/15/2010,Collateral Type:SR UNSECURED,Interest Rate:7.875		220,000		33,639	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		7,500,000				7,500,000	Issue Date: 11/1/1999, Maturity Date: 11/1/2009,Collateral Type:SR UNSECURED,Interest Rate:7.875		7,500,000		675,938	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		1,000				1,000	Issue Date: 1/3/2008, Maturity Date: 1/3/2023,Collateral Type:SR UNSECURED,Interest Rate:9.25		—		590	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		229,000				229,000	Issue Date: 12/28/2007, Maturity Date: 12/28/2022,Collateral Type:SR UNSECURED,Interest Rate:9.5		—		138,869	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		1,723,000				1,723,000	Issue Date: 5/25/2007, Maturity Date: 5/25/2010,Collateral Type:SR UNSECURED,Interest Rate:0		1,723,000		—	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		95,596				88,000	Issue Date: 3/17/2006, Maturity Date: 3/17/2011,Collateral Type:SR UNSECURED,Interest Rate:0		88,000		—	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		209,497				200,000	Issue Date: 5/10/2007, Maturity Date: 5/10/2012,Collateral Type:SR UNSECURED,Interest Rate:0		200,000		—	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		326,000				326,000	Issue Date: 6/12/2006, Maturity Date: 6/12/2013,Collateral Type:SR UNSECURED,Interest Rate:0		326,000		—	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		509,000				509,000	Issue Date: 1/16/2004, Maturity Date: 1/16/2014,Collateral Type:SR UNSECURED,Interest Rate:4.75		509,000		130,894	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		402,172				400,000	Issue Date: 6/27/2007, Maturity Date: 6/27/2014,Collateral Type:SR UNSECURED,Interest Rate:5.125		400,000		120,210	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		222,554				200,000	Issue Date: 10/17/2007, Maturity Date: 10/17/2012,Collateral Type:SR UNSECURED,Interest Rate:5.375		200,000		44,583	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.

The Goldman Sachs 401(k) Plan

Schedule G, Part 1 - Schedule of Loans or Fixed Income Obligations in Default or Classified as Uncollectible

December 31, 2014


	(b)	(c)		Amount received during reporting year		(f)		(g) Detailed description of loan including dates of making and maturity, interest rate, the type and value of collateral,	Amount overdue
	Identity and address of obligor	Original amount		(d)	(e)	Unpaid balance at year end		any renegotiation of the loan and the terms of the	(h)		(i)
(a)	Identity and address of obligor	of loan (par value)		Principal	Interest	Unpaid balance at year end		renegotiation and other material matters	Principal		Interest		Steps taken or will be taken to collect overdue amounts
	Lehman Brothers Holdings Inc, 1271 6th Avenue, New York, NY 10020, United States		130,301				116,000	Issue Date: 5/10/2001, Maturity Date: 5/10/2011,Collateral Type:SR UNSECURED,Interest Rate:6.375		116,000		19,864	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Argentine Republic,		1,788,000				1,788,000	Issue Date: 11/29/2005, Maturity Date: 12/15/2035,Collateral Type:SR UNSECURED,Interest Rate:0		—		—	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Argentine Republic,		569,224				565,000	Issue Date: 11/29/2005, Maturity Date: 12/31/2038,Collateral Type:SR UNSECURED,Interest Rate:2.26		—		1,029	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Argentine Republic,		55,171				55,000	Issue Date: 11/29/2005, Maturity Date: 12/31/2038,Collateral Type:SR UNSECURED,Interest Rate:2.5		—		111	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Argentine Republic,		152,953				151,371	Issue Date: 11/29/2005, Maturity Date: 12/31/2033,Collateral Type:SR UNSECURED,Interest Rate:7.82		—		954	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Argentine Republic,		1,156,681				1,156,681	Issue Date: 11/29/2005, Maturity Date: 12/31/2033,Collateral Type:SR UNSECURED,Interest Rate:8.28		—		7,715	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Bumi Resources Tbk PT, Bakrie Tower, Lt. 12, Jl. HR Rasuna Said,, Jakarta, 12960, Indonesia		144,000				144,000	Issue Date: 10/6/2010, Maturity Date: 10/6/2017,Collateral Type:SR SECURED,Interest Rate:10.75		—		2,408	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Callahan Associates Internatio, Gustav-Heinemann-Ufer 54, Koeln, 50968, Germany		9,000				9,000	Issue Date: 7/16/2001, Maturity Date: 7/15/2011,Collateral Type:SR UNSECURED,Interest Rate:14.125		9,000		11,593	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Espirito Santo Financial Group, 22/24 Boulevard Royal, L-2449 Luxembourg, Luxembourg		100,000				100,000	Issue Date: 12/2/2013, Maturity Date: 12/2/2018,Collateral Type:SR UNSECURED,Interest Rate:3.125		—		720	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Espirito Santo Financial Group, 22/24 Boulevard Royal, L-2449 Luxembourg, Luxembourg		48,000				48,000	Issue Date: 12/19/2011, Maturity Date: 12/19/2025,Collateral Type:SR UNSECURED,Interest Rate:9.75		—		1,079	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	THQ Inc, 29903 Agoura Road, Agoura Hills, CA 91301, United States		78,000				78,000	Issue Date: 8/4/2009, Maturity Date: 8/15/2014,Collateral Type:SR UNSECURED,Interest Rate:5		78,000		6,543	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Texas Competitive Electric Hol, 1601 Bryan Street, Dallas, TX 75201-3411, United States		1,015,000				1,015,000	Issue Date: 10/20/2010, Maturity Date: 4/1/2021,Collateral Type:SECURED,Interest Rate:15		—		104,038	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Texas Competitive Electric Hol, 1601 Bryan Street, Dallas, TX 75201-3411, United States		941,002				575,000	Issue Date: 1/30/2009, Maturity Date: 11/1/2015,Collateral Type:COMPANY GUARNT,Interest Rate:10.25		—		40,274	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.
	Texas Competitive Electric Hol, 1601 Bryan Street, Dallas, TX 75201-3411, United States		229,125				229,000	Issue Date: 1/28/2009, Maturity Date: 11/1/2016,Collateral Type:COMPANY GUARNT,Interest Rate:10.5		—		16,431	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security.

SIGNATURES

The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the Administrative Committee (or other persons who administer the employee benefit plan) has duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.


		THE GOLDMAN SACHS 401(k) PLAN Members of the Administrative Committee

		By:		/s/ Christopher Ceder
		Name: Christopher Ceder

		By:		/s/ Edina Jung
		Name: Edina Jung

		By:		/s/ Michael Perloff
		Name: Michael Perloff

Date: June 29, 2015

INDEX TO EXHIBITS


Exhibit No.		Description
23		Consent of PricewaterhouseCoopers LLP, Independent Registered Public Accounting Firm

EXHIBIT 23

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We hereby consent to the incorporation by reference in the Registration Statement on Form S-8 (No. 333-42068) of The Goldman Sachs Group, Inc. of our report dated June 29, 2015 relating to the financial statements and supplemental schedules of The Goldman Sachs 401(k) Plan which appears in this Form 11-K.

/s/ PricewaterhouseCoopers LLP

New York, New York

June 29, 2015

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