# EDGAR Filing Document

**Accession Number:** 0000032339
**File Stem:** 0001752724-25-211222
**Filing Date:** 2025-8
**Character Count:** 18652
**Document Hash:** da298719a0777eecb5b77faabb4a94f0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-211222.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0001752724-25-211222

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250828

**DATE AS OF CHANGE**: 20250828

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ELFUN TRUSTS
- **CENTRAL INDEX KEY:** 0000032339

**ORGANIZATION NAME:**
- **EIN:** 136057455
- **STATE OF INCORPORATION:** NY
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-00483
- **FILM NUMBER:** 251270233

**BUSINESS ADDRESS:**
- **STREET 1:** ONE IRON STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210
- **BUSINESS PHONE:** 6176643920

**MAIL ADDRESS:**
- **STREET 1:** ONE IRON STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210

## Series and Classes Contracts Data

### ELFUN TRUSTS (Series ID: S000011821)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000032303 | Elfun Trusts | elfnx           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** ELFUN TRUSTS

- **b. Investment Company Act file number:** 811-00483

- **c. CIK number of Registrant:** 0000032339

- **d. LEI of Registrant:** 549300YBNVDH5320R485

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** One Iron Street

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02210

  - **Telephone number:** 617-664-7037

**Item A.2. Information about the Series.**

- **a. Name of Series:** ELFUN TRUSTS

- **b. EDGAR series identifier (if any):** S000011821

- **c. LEI of Series:** 549300YBNVDH5320R485

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $4381287669.01

**Total Liabilities:** $980263.17

**Net Assets:** $4380307405.84

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000032303 | -0.30%               | 6.34%                | 5.68%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-24276836.96            | $9488290.08                                |
| Month 2  | $10794982.97             | $232494260.57                              |
| Month 3  | $37079423.80             | $195286093.06                              |

### Schedule of Portfolio Investments

| Name                          | Title                                                      | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Salesforce Inc                | Salesforce Inc                                             | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |    270449 | NS      | $73748737.81  | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| American Water Works Co Inc   | American Water Works Co Inc                                | CUSIP: 030420103<br>LEI: 549300DXHIJQMD5WFW18 | Long             | EC               | CORP              | US        |    299100 | NS      | $41607801.00  | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Pharmaceuticals Inc    | Vertex Pharmaceuticals Inc                                 | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |    122742 | NS      | $54644738.40  | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson             | Johnson & Johnson                                          | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |    564228 | NS      | $86185827.00  | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| United Rentals Inc            | United Rentals Inc                                         | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |     89767 | NS      | $67630457.80  | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Global Advisors  | State Street Institutional Treasury Money Market Fund      | CUSIP: 857492870<br>LEI: 549300Q3FHSMZ70NLT76 | Long             | STIV             | RF                | US        |  42174176 | NS      | $42174175.88  | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific Inc  | Thermo Fisher Scientific Inc                               | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |    165700 | NS      | $67184722.00  | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc         | Uber Technologies Inc                                      | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |    856000 | NS      | $79864800.00  | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Chubb Ltd                     | Chubb Ltd                                                  | CUSIP: 000000000<br>LEI: E0JAN6VLUDI1HITHT809 | Long             | EC               | CORP              | CH        |    228700 | NS      | $66258964.00  | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Tetra Tech Inc                | Tetra Tech Inc                                             | CUSIP: 88162G103<br>LEI: 549300UJ1LP7JGJC5P32 | Long             | EC               | CORP              | US        |   1388298 | NS      | $49923196.08  | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Global Advisors  | State Street Institutional US Government Money Market Fund | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |  37527445 | NS      | $37527444.99  | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments Inc         | Texas Instruments Inc                                      | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |    287200 | NS      | $59628464.00  | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                  | Alphabet Inc                                               | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    547700 | NS      | $96521171.00  | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                      | Visa Inc                                                   | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |    289400 | NS      | $102751470.00 | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                | Microsoft Corp                                             | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |    787135 | NS      | $391528820.35 | 8.94%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp           | American Tower Corp                                        | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               |  | US        |    234929 | NS      | $51924007.58  | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc         | Applied Materials Inc                                      | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |    352400 | NS      | $64513868.00  | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                   | NVIDIA Corp                                                | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |   2590200 | NS      | $409225698.00 | 9.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Adobe Inc                     | Adobe Inc                                                  | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |    165400 | NS      | $63989952.00  | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Waste Management Inc          | Waste Management Inc                                       | CUSIP: 94106L109<br>LEI: 549300YX8JIID70NFS41 | Long             | EC               | CORP              | US        |    235800 | NS      | $53955756.00  | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                  | Alphabet Inc                                               | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    781200 | NS      | $138577068.00 | 3.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                     | Linde PLC                                                  | CUSIP: 000000000<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | IE        |    139200 | NS      | $65309856.00  | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp              | Exxon Mobil Corp                                           | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |    742837 | NS      | $80077828.60  | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| CMS Energy Corp               | CMS Energy Corp                                            | CUSIP: 125896100<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EC               | CORP              | US        |    902300 | NS      | $62511344.00  | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Martin Marietta Materials Inc | Martin Marietta Materials Inc                              | CUSIP: 573284106<br>LEI: 5299005MZ4WZECVATV08 | Long             | EC               | CORP              | US        |    103100 | NS      | $56597776.00  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard Inc                | Mastercard Inc                                             | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |     69500 | NS      | $39054830.00  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                  | Broadcom Inc                                               | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |    617500 | NS      | $170213875.00 | 3.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp          | Bank of America Corp                                       | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |   1703400 | NS      | $80604888.00  | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc/The            | Home Depot Inc/The                                         | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |    233700 | NS      | $85683768.00  | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories           | Abbott Laboratories                                        | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |    501500 | NS      | $68209015.00  | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Kenvue Inc                    | Kenvue Inc                                                 | CUSIP: 49177J102<br>LEI: 5493008HSF8L4M2LIJ82 | Long             | EC               | CORP              | US        |   2890086 | NS      | $60489499.98  | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Parker-Hannifin Corp          | Parker-Hannifin Corp                                       | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |    100400 | NS      | $70126388.00  | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group Inc/The   | Goldman Sachs Group Inc/The                                | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |     97300 | NS      | $68864075.00  | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| ServiceNow Inc                | ServiceNow Inc                                             | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |     47900 | NS      | $49245032.00  | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc            | Meta Platforms Inc                                         | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |    299192 | NS      | $220830623.28 | 5.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Emerson Electric Co           | Emerson Electric Co                                        | CUSIP: 291011104<br>LEI: FGLT0EWZSUIRRITFOA30 | Long             | EC               | CORP              | US        |    678600 | NS      | $90477738.00  | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Synopsys Inc                  | Synopsys Inc                                               | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |    107500 | NS      | $55113100.00  | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                     | Apple Inc                                                  | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |   1181000 | NS      | $242305770.00 | 5.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix Inc                   | Equinix Inc                                                | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               |  | US        |     67300 | NS      | $53535131.00  | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P Global Inc                | S&P Global Inc                                             | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |    140500 | NS      | $74084245.00  | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co                | Eli Lilly & Co                                             | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |    123100 | NS      | $95960143.00  | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co           | JPMorgan Chase & Co                                        | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |    398921 | NS      | $115651187.11 | 2.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                | Amazon.com Inc                                             | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |   1124900 | NS      | $246791811.00 | 5.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Eaton Corp PLC                | Eaton Corp PLC                                             | CUSIP: 000000000<br>LEI: 549300VDIGTMXUNT7H71 | Long             | EC               | CORP              | IE        |    220600 | NS      | $78751994.00  | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                | ConocoPhillips                                             | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |    555700 | NS      | $49868518.00  | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-29

**Name of Applicant:** ELFUN TRUSTS

**Signature:** Arthur Jensen

**Name of Signer:** Arthur Jensen

**Title:** Deputy Treasurer