ELFUN DIVERSIFIED FUND
NSAR-B, 1996-02-28
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<PAGE>      PAGE  1
000 B000000 12/31/95
000 C000000 0000821484
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 ELFUN DIVERSIFIED FUND
001 B000000 811-5324
001 C000000 6179856423
002 A000000 3003 SUMMER ST
002 B000000 STAMFORD
002 C000000 CT
002 D010000 06904
002 D020000 7900
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 N
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007 C010100  1
007 C010200  2
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007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A000001 GENERAL ELECTRIC INVESTMENT CORPORATION
008 B000001 A
008 C000001 801-13003
008 D010001 STAMFORD
008 D020001 CT
008 D030001 06904
008 D040001 7900
010 A000001 GENERAL ELECTRIC INVESTMENT CORPORATION
010 B000001 801-13003
010 C010001 STAMFORD
010 C020001 CT
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 02110
<PAGE>      PAGE  2
013 A000001 KPMG PEAT MARWICK
013 B010001 STAMFORD
013 B020001 CT
013 B030001 06905
014 A000001 KIDDER PEABODY & CO. INC.
014 B000001 8-04831
014 A000002 GECC CAPITAL MARKETS GROUP, INC.
014 B000002 8-29149
014 A000003 GNA SECURITIES, INC.
014 B000003 8-26614
014 A000004 GNA DISTRIBUTORS, INC.
014 B000004 8-46211
014 A000005 DELETE
014 A000006 GE INVESTMENT SERVICES INC.
014 B000006 8-45710
014 A000007 MITCHELL HUTCHINS ASSET MANAGEMENT, INC.
014 B000007 8-21901
014 A000008 PAINEWEBBER INCORPORATED
014 B000008 8-16267
015 A000001 STATE STREET BANK & TRUST CO
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02110
015 E010001 X
018  000000 Y
019 A000000 Y
019 B000000    8
019 C000000 GEINVESTMT
020 A000001 SMITH NEW COURT, CARL MARKS INC
020 B000001 13-3169769
020 C000001      6
020 A000002 KANKAU SECURITIES (AMERICA), INC.
020 B000002 13-2656060
020 C000002      1
020 A000003 WEEDEN & CO.
020 B000003 13-3364318
020 C000003      1
020 A000004 EXECUTIVE SERVICE
020 B000004 59-2087068
020 C000004      1
020 A000005 NOMURA SECURITIES
020 B000005 13-2642206
020 C000005      1
020 A000006 GOLDMAN SACHS
020 B000006 13-5108880
020 C000006      1
020 A000007 HOARE GOVETT
020 C000007      1
020 A000008 MORGAN STANLEY AND CO INC
020 B000008 13-567405
<PAGE>      PAGE  3
020 C000008      1
020 A000009 BRIDGE DATA
020 C000009      1
020 A000010 ROCHDALE SECURITIES CORP
020 B000010 13-3608140
020 C000010      1
021  000000       28
022 A000001 CS FIRST BOSTON CORPORATION
022 B000001 13-5659485
022 C000001     79236
022 D000001      3986
022 A000002 SALOMON BROTHERS, INC.
022 B000002 13-3082694
022 C000002     76279
022 D000002      4083
022 A000003 SMITH BARNEY, INC.
022 B000003 13-1912900
022 C000003     45602
022 D000003       721
022 A000004 BANK OF AMERICAS INC.
022 B000004 95-4035346
022 C000004     28926
022 D000004         0
022 A000005 LEHMAN BROTHERS SECURITIES, INC.
022 B000005 13-2518466
022 C000005     13868
022 D000005     11098
022 A000006 MORGAN STANLEY AND CO., INC.
022 B000006 13-2655998
022 C000006      9632
022 D000006      4370
022 A000007 MERRILL LYNCH PIERCE FENNER & SMITH, INC.
022 B000007 13-5674085
022 C000007      5002
022 D000007      8567
022 A000008 BEAR STEARNS & CO., INC.
022 B000008 13-3299490
022 C000008      5966
022 D000008      5673
022 A000009 GOLDMAN SACHS
022 B000009 13-5108880
022 C000009      7886
022 D000009      2674
022 A000010 MORGAN, J.P. SECURITIES, INC.
022 B000010 13-3224016
022 C000010      5176
022 D000010      1994
023 C000000     288004
023 D000000      47137
024  000000 N
025 D000001       0
<PAGE>      PAGE  4
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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<PAGE>      PAGE  8
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<PAGE>      PAGE  9
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<PAGE>      PAGE  10
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SIGNATURE   JEFF GROH                                    
TITLE       TREASURER           
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000821484
<NAME> ELFUN DIVERSIFIED FUND
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-START>                              JAN-1-1995
<PERIOD-END>                               DEC-31-1995
<INVESTMENTS-AT-COST>                            64924
<INVESTMENTS-AT-VALUE>                           79332
<RECEIVABLES>                                      477
<ASSETS-OTHER>                                      55
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   79864
<PAYABLE-FOR-SECURITIES>                          2529
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           80
<TOTAL-LIABILITIES>                               2609
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         62819
<SHARES-COMMON-STOCK>                             4872
<SHARES-COMMON-PRIOR>                             4362
<ACCUMULATED-NII-CURRENT>                           22
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                           (30)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         14444
<NET-ASSETS>                                     77255
<DIVIDEND-INCOME>                                  827
<INTEREST-INCOME>                                 1894
<OTHER-INCOME>                                    (25)
<EXPENSES-NET>                                   (234)
<NET-INVESTMENT-INCOME>                           2462
<REALIZED-GAINS-CURRENT>                          1931
<APPREC-INCREASE-CURRENT>                        11483
<NET-CHANGE-FROM-OPS>                            15876
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       (2437)
<DISTRIBUTIONS-OF-GAINS>                        (2010)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            746
<NUMBER-OF-SHARES-REDEEMED>                      (501)
<SHARES-REINVESTED>                                265
<NET-CHANGE-IN-ASSETS>                           19481
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                           23
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                               37
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    234
<AVERAGE-NET-ASSETS>                             67957
<PER-SHARE-NAV-BEGIN>                            13.24
<PER-SHARE-NII>                                    .53
<PER-SHARE-GAIN-APPREC>                           3.06
<PER-SHARE-DIVIDEND>                             (.53)
<PER-SHARE-DISTRIBUTIONS>                        (.44)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              15.86
<EXPENSE-RATIO>                                    .34
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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