Goldman Sachs Short-Term Conservative Income Fund
GOLDMAN SACHS TRUST · 5 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
Goldman Sachs Short-Term Conservative Income Fund is an actively managed global bond fund.
- Asset class
- Bonds
- Region
- Global
- Management
- Actively managed
- Fund type
- Open-end fund
Fund profile
As filed in the prospectus · 2025 Q3
The Goldman Sachs Short-Term Conservative Income Fund (the "Fund") seeks to generate current income and secondarily maintain an emphasis on preservation of capital and liquidity .
The fund invests at least 80% of assets in short-term, investment-grade fixed income securities selected for attractive yields relative to comparable instruments, with at least 70% in the highest short-term credit ratings and the remainder in upper-medium grades. It concentrates more than 25% of assets in the financial services industry and maintains a dollar-weighted average maturity not exceeding nine months. Because the fund's manager identifies individual securities believed to offer relative value rather than tracking an index, performance will diverge from its stated benchmarks. The fund is not a money market fund and does not maintain a stable net asset value.
| Share class | Gross | Net |
|---|---|---|
| GPPIX | 0.33% | 0.24% |
| GPAPX | 0.56% | 0.47% |
| GPPSX | 0.32% | 0.23% |
| GMBPX | 0.32% | 0.23% |
| GPPOX | 0.41% | 0.32% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 117.00% · as of 2025 Q3
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 66.08% |
| Cash & short-term | 25.44% |
| Stocks | 5.13% |
| Securitized | 1.51% |
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Other | 26.2% |
| International | 25.7% |
| Cash | 23.6% |
| Financials | 15.0% |
| 8 smaller | 9.5% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Latest quarter
What changed since the fund's previous filing
Largest new: Goldman Sachs Central Government Fund, BNP Paribas SA, JPMORGAN CHASE & CO, American Honda Finance Corp, HUNTINGTON NATIONAL BANK, VOLKSWAGEN GROUP AMERICA, BAT CAPITAL CORP, ORACLE CORP
Largest exited: Goldman Sachs Financial Square Government Fund, Wells Fargo Bank NA, HSBC USA INC ×2, UNICREDIT SPA, JPMORGAN CHASE & CO, RWE AG, The Charles Schwab Corp
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +4.48% | +16.42% | +19.98% | 0.31% | 0.00% | |
| — | — | — | — | — | |
| +4.34% | +15.74% | +18.60% | 0.35% | 0.00% | |
| — | — | — | — | — | |
| +4.50% | +16.61% | +19.93% | 0.33% | 0.00% | |
| +4.50% | +16.61% | +20.05% | 0.31% | 0.00% | |
| +4.39% | +16.28% | +19.53% | 0.33% | 0.00% |
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 64.0% |
| Floating rate | 36.0% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 26.2% |
| 1-3y | 73.6% |
| 5-10y | 0.1% |
| 10y+ | 0.1% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Credit spreads | 59% |
| Interest rates | 41% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +0.59 yr |
| High yield | +0.02 yr |
Share of duration at each point, shortest first. This filer signs its rate and credit disclosures differently; the direction shown follows its interest-rate filing, and a negative reading is the least-supported figure here.
| 3 mo | 0.10 yr | 24% |
| 1 yr | 0.30 yr | 71% |
| 5 yr | 0.02 yr | 5% |
| 30 yr | 0.00 yr | 0% |
10 yr is NEGATIVE (-0.00 yr) — a deliberate hedge at that point on the curve, so it is not part of the band above.
| 3 mo | 0.10 yr | 16% |
| 1 yr | 0.42 yr | 70% |
| 5 yr | 0.09 yr | 15% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.10 | +0.09 | +0.01 | $17.1k | $2.0k |
| 1 yr | +0.30 | +0.41 | +0.01 | $83.2k | $1.1k |
| 5 yr | +0.02 | +0.09 | +0.00 | $17.8k | $0 |
| 10 yr | -0.00 | +0.00 | +0.00 | $0 | $0 |
| 30 yr | +0.00 | +0.00 | +0.00 | $0 | $0 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| GCCXX | Goldman Sachs Central Government FundGCCXX | 5.13% | $1.0000 | $103.01M | 103.0M |
| — | BNP Paribas SA | 2.24% | — | $45.00M | — |
| — | GENERAL MOTORS FINL CO4.82% floating · due 2028-04-04 | 1.64% | — | $32.87M | — |
| — | SOCIETE GENERALE5.25% · due 2027-02-19 | 1.51% | — | $30.28M | — |
| — | Oracle Corp | 1.26% | — | $25.37M | — |
| — | BANCO SANTANDER SA4.25% · due 2027-04-11 | 1.20% | — | $24.18M | — |
| — | MORGAN STANLEY PVT BANK4.41% floating · due 2028-11-17 | 1.20% | — | $24.10M | — |
| — | NTT FINANCE CORP4.57% · due 2027-07-16 | 1.10% | — | $22.18M | — |
| — | NATWEST MARKETS PLC4.47% floating · due 2028-11-06 | 1.05% | — | $21.08M | — |
| — | SALESFORCE INC4.50% · due 2028-03-15 | 1.03% | — | $20.67M | — |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
Top 10 positions are 17.37% of net assets, top 25 31.22%, across 134 issuers.
See more of this fund's book
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