ELFUN TRUSTS
NSAR-A, 1998-08-27
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<PAGE>      PAGE  1
000 A000000 06/30/98
000 C000000 0000032339
000 D000000 N
000 E000000 NF
000 F000000 Y
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000 J000000 A
001 A000000 ELFUN TRUST
001 B000000 811-0483
001 C000000 6179856423
002 A000000 3003 SUMMER ST
002 B000000 STAMFORD
002 C000000 CT
002 D010000 06905
003  000000 N
004  000000 N
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010 C030001 06904
010 C040001 7900
012 A000001 STATE STREET BANK AND TRUST CO.
012 B000001 85-05003
012 C010001 BOSTON
012 C020001 MA
012 C030001 02101
013 A000001 KPMG PEAT MARWICK
<PAGE>      PAGE  2
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10017
014 A000001 GECC CAPITAL MARKETS GROUP, INC.
014 B000001 8-29149
014 A000002 CAPITAL BROKERAGE
014 B000002 8-26614
014 A000003 GNA DISTRIBUTORS, INC.
014 B000003 8-46211
014 A000004 GE INVESTMENT DISTRIBUTORS, INC.
014 B000004 8-45710
014 A000005 PAINE WEBBER INCORPORATED
014 B000005 8-16267
014 A000006 MITCHELL HUTCHINS ASSET MANAGEMENT, INC.
014 B000006 8-21901
014 A000007 FORTH FINANCIAL SECURITIES CORP
014 B000007 8-30557
014 A000008 BUDAPEST SECURITIES
014 B000008 8-00000
015 A000001 STATE STREET BANK & TRUST CO
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020 C000001     28
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020 B000002 13-5108880
020 C000002     22
020 A000003 LEHMAN BROTHERS
020 B000003 13-2518466
020 C000003     20
020 A000004 WERTHEIM AND CO, INC
020 B000004 13-2697272
020 C000004     20
020 A000005 SMITH BARNEY INC
020 B000005 13-1912900
020 C000005     20
020 A000006 MERRILL LYNCH
020 B000006 13-5674085
020 C000006     18
020 A000007 COWEN AND CO
020 B000007 13-5616116
020 C000007     18
020 A000008 DONALDSON, LUFKIN ADN JENRETTE SECS
<PAGE>      PAGE  3
020 B000008 13-2741729
020 C000008     17
020 A000009 WEEDEN AND CO
020 B000009 13-3364318
020 C000009     16
020 A000010 BLAIR, WILLIAM, AND CO
020 B000010 13-3612293
020 C000010     15
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022 A000004 CS FIRST BOSTON
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022 A000009 WHEAT, FIRST SECURITIES, INC
022 B000009 56-1529080
022 C000009       870
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022 A000010 HAMBRECHT AND QUIST
022 B000010 94-2856935
022 C000010       863
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<PAGE>      PAGE  4
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<PAGE>      PAGE  6
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SIGNATURE   JEFF GROH                                    
TITLE       TREASURER           
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000032339
<NAME> ELFUN TRUSTS
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-31-1998
<PERIOD-END>                               JUN-30-1998
<INVESTMENTS-AT-COST>                          1021028
<INVESTMENTS-AT-VALUE>                         2251523
<RECEIVABLES>                                    12165
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 2263688
<PAYABLE-FOR-SECURITIES>                          2506
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                         1440
<TOTAL-LIABILITIES>                               3946
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        920681
<SHARES-COMMON-STOCK>                            35590
<SHARES-COMMON-PRIOR>                            35499
<ACCUMULATED-NII-CURRENT>                        18198
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          91297
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       1229566
<NET-ASSETS>                                   2259742
<DIVIDEND-INCOME>                                16999
<INTEREST-INCOME>                                 2162
<OTHER-INCOME>                                   (206)
<EXPENSES-NET>                                  (1121)
<NET-INVESTMENT-INCOME>                          17834
<REALIZED-GAINS-CURRENT>                         85985
<APPREC-INCREASE-CURRENT>                       169544
<NET-CHANGE-FROM-OPS>                           273363
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                           1309
<NUMBER-OF-SHARES-REDEEMED>                     (1216)
<SHARES-REINVESTED>                                (2)
<NET-CHANGE-IN-ASSETS>                              91
<ACCUMULATED-NII-PRIOR>                            364
<ACCUMULATED-GAINS-PRIOR>                         5312
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              435
<INTEREST-EXPENSE>                                1121
<GROSS-EXPENSE>                                      0
<AVERAGE-NET-ASSETS>                           2163492
<PER-SHARE-NAV-BEGIN>                           55.810
<PER-SHARE-NII>                                  0.500
<PER-SHARE-GAIN-APPREC>                          7.180
<PER-SHARE-DIVIDEND>                             0.000
<PER-SHARE-DISTRIBUTIONS>                        0.000
<RETURNS-OF-CAPITAL>                             0.000
<PER-SHARE-NAV-END>                             63.490
<EXPENSE-RATIO>                                   0.10
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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