Investment objective & strategy
As of April 29, 2025 · prospectusObjective. The Goldman Sachs Real Estate Securities Fund (the "Fund") seeks total return comprised of long-term growth of capital and dividend income.
Strategy. The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at time of purchase) (Net Assets) in a portfolio of equity investments in issuers that are primarily engaged in or related to the real estate industry (real estate industry companies). An issuer is primarily engaged in or related to the real estate industry if it derives at least 50% of its gross revenues or net profits from the ownership, development, construction, financing, management or sale of commercial, industrial or residential real estate or interests therein. Real estate industry companies may include real estate investment trusts (REITs), REIT-like structures, or real estate operating companies whose businesses and services are related to … The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at time of purchase) (Net Assets) in a portfolio of equity investments in issuers that are primarily engaged in or related to the real estate industry (real estate industry companies). An issuer is primarily engaged in or related to the real estate industry if it derives at least 50% of its gross revenues or net profits from the ownership, development, construction, financing, management or sale of commercial, industrial or residential real estate or interests therein. Real estate industry companies may include real estate investment trusts (REITs), REIT-like structures, or real estate operating companies whose businesses and services are related to the real estate industry. The Funds investment strategy is based on the premise that property market fundamentals are the primary determinant of growth, underlying the success of companies in the real estate industry. The Investment Adviser focuses on companies that can achieve sustainable growth in cash flow and dividend paying capability over time. The Investment Adviser attempts to purchase securities so that its underlying portfolio will be diversified geographically and by property type. Although the Fund will invest primarily in publicly traded U.S. securities, it may invest up to 15% of its total assets in foreign securities, including securities quoted in foreign currencies. The Investment Adviser employs a fundamental investment process that may integrate environmental, social and governance (ESG) factors alongside traditional fundamental factors. No one factor or consideration is determinative in the stock selection process. The Fund may also invest up to 20% of its total assets in fixed income investments, such as government, corporate and bank debt obligations and in other equity investments. The Fund concentrates its investments in securities of issuers in the real estate industry. The Investment Adviser measures the Funds performance against the FTSE NAREIT All Equity REITs Index (Total Return, USD, Unhedged). THE FUND IS NON-DIVERSIFIED UNDER THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED (INVESTMENT COMPANY ACT), AND MAY INVEST A LARGER PERCENTAGE OF ITS ASSETS IN FEWER ISSUERS THAN DIVERSIFIED MUTUAL FUNDS.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| WELLTOWER INC | — | $5.28M | 10.70% |
| PROLOGIS INC REIT | — | $4.98M | 10.11% |
| EQUINIX INC | — | $4.13M | 8.37% |
| AMERICAN TOWER CORP | — | $3.60M | 7.30% |
| SIMON PROPERTY | — | $2.62M | 5.31% |
| DIGITAL REALTY TRUST INC | — | $2.60M | 5.26% |
| VENTAS INC REIT | — | $1.90M | 3.86% |
| EXTRA SPACE STORAGE INC | — | $1.71M | 3.47% |
| REALTY INCOME CORP REIT | — | $1.66M | 3.37% |
| VICI PROPERTIES | — | $1.48M | 3.00% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| iShares Select U.S. REIT ETF · ICF | 76% | 0.32% |
| Neuberger Berman Real Estate Fund · NBRIX, NBRFX, NREAX, NRECX, NRERX, NRREX, NREEX | 73% | 0.08% |
| State Street(R) Real Estate Select Sector SPDR(R) ETF · XLRE | 73% | 0.08% |
Advisers
| Firm | Role |
|---|---|
| Goldman Sachs Asset Management, L.P. | Adviser |
Footnotes
- Expense ratio as of April 29, 2025, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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