Goldman Sachs Tactical Tilt Overlay Fund
GOLDMAN SACHS TRUST · 3 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
Goldman Sachs Tactical Tilt Overlay Fund is an actively managed U.S. equity fund.
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Features
- Fund of funds
Fund profile
As filed in the prospectus · 2025 Q4
The Goldman Sachs Tactical Tilt Overlay Fund (the "Fund") seeks long-term total return.
The fund implements tactical tilts—short- to medium-term overweight and underweight positions across asset classes—derived from Goldman Sachs' Investment Strategy Group market views. It gains exposure through direct securities, pooled investment vehicles including affiliated and unaffiliated funds, derivatives, and commodity exposure primarily through a wholly-owned Cayman Islands subsidiary. Because the fund's tactical positions and underlying fund holdings may change without shareholder notice, performance may diverge materially from its benchmark, the three-month Treasury bill index.
| Share class | Gross | Net |
|---|---|---|
| TTIFX | 0.89% | 0.78% |
| TTRFX | 0.88% | 0.77% |
| GSLPX | 0.88% | 0.77% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 143.00% · as of 2025 Q4
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Cash & short-term | 58.27% |
| Stocks | 35.84% |
| Bonds | 4.28% |
| Derivatives | 0.48% |
Derivatives are shown at market value, not notional exposure.
Latest quarter
What changed since the fund's previous filing
Largest new: Goldman Sachs Central Government Fund, United States Treasury, Gotham Funding Corp, Cooperatieve Rabobank UA, AGENCE CENTRALE ORGANISMES SEC, Victory Receivables Corp, Emerson Electric Co, Archer-Daniels-Midland Co
Largest exited: Goldman Sachs Financial Square Government Fund, Nederlandse Waterschapsbank NV, Alexandria Real Estate Equities Inc, ENEL FINANCE AMERICA LLC, ALBERTA PROVINCE, TOTALENERGIES CAPITAL SA, ESSILORLUXOTTICA, ORACLE 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 |
|---|---|---|---|---|---|
| +4.63% | +13.65% | +20.13% | 2.80% | -1.47% | |
| +4.75% | +13.82% | +20.39% | 2.85% | -1.52% | |
| +4.77% | +13.85% | +20.41% | 2.83% | -1.52% |
These classes hold the same portfolio, so the 0.29pp spread over 5 years is the cost difference between them — roughly 0.06pp a year — not a difference in what they own.
May 2026 has been filed since the trailing figures were struck, so it is 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 2026-05-31
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Floating rate | 74.6% |
| Fixed rate | 25.4% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 39.9% |
| 1-3y | 60.1% |
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
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying a small fraction as much.
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.
| Interest rates | 99% |
| Credit spreads | 1% |
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 | +0.02 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.
| 1 yr | 0.63 yr | 23% |
| 5 yr | 1.63 yr | 60% |
| 10 yr | 0.48 yr | 18% |
3 mo is NEGATIVE (-0.12 yr) — a deliberate hedge at that point on the curve, so it is not part of the band above.
| 3 mo | 0.01 yr | 30% |
| 1 yr | 0.02 yr | 65% |
| 5 yr | 0.00 yr | 4% |
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 | -0.12 | +0.00 | +0.01 | $62 | $5.6k |
| 1 yr | +0.63 | +0.02 | +0.01 | $8.4k | $3.6k |
| 5 yr | +1.63 | +0.00 | +0.00 | $814 | $0 |
| 10 yr | +0.48 | +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.
Duration contribution in years, summing to the fund's 2.62 yr.
This is where the fund's rate exposure sits, not its currency risk — most international bond funds hedge the currency back to dollars, and the size of those hedges is not in the filing. Tenors are also summed across curves, so a 5-year JPY point and a 5-year USD point are added together.
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 | 26.02% | $1.0000 | $1.32B | 1.3B |
| — | State Street Health Care Select Sector SPDR ETF | 4.49% | $149.47 | $228.31M | 1.5M |
| — | Goldman Sachs Access Treasury 0-1 Year ETF | 2.78% | $100.17 | $141.29M | 1.4M |
| — | FEDERAL HOME LOAN BANK3.80% floating · due 2027-10-08 | 1.37% | — | $69.86M | — |
| — | United States Treasury3.81% floating · due 2027-10-31 | 1.20% | — | $60.97M | — |
| — | KFW | 1.14% | — | $58.16M | — |
| — | iShares MSCI Mexico ETF | 1.03% | $78.43 | $52.66M | 671.4K |
| — | Citibank NA | 0.99% | — | $50.30M | — |
| — | Gotham Funding Corp | 0.98% | — | $49.71M | — |
| — | Sprott Physical Uranium Trust | 0.82% | $19.77 | $41.97M | 2.1M |
Reported price is the fund's own reported value divided by its own reported shares at 2026-05-31 — not a live quote, and not what the fund paid.
Top 10 positions are 40.82% of net assets, top 25 50.71%, across 152 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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