<?xml version="1.0" encoding="UTF-8"?>
<edgarSubmission xmlns="http://www.sec.gov/edgar/ncen" xmlns:com="http://www.sec.gov/edgar/common">
  <schemaVersion>X0404</schemaVersion>
  <headerData>
    <submissionType>N-CEN</submissionType>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <filer>
        <issuerCredentials>
          <cik>0000032339</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
        <fileNumber>811-00483</fileNumber>
      </filer>
      <flags>
        <returnCopyFlag>false</returnCopyFlag>
        <overrideInternetFlag>false</overrideInternetFlag>
        <confirmingCopyFlag>false</confirmingCopyFlag>
      </flags>
      <investmentCompanyType>N-1A</investmentCompanyType>
    </filerInfo>
    <seriesClass>
      <reportSeriesClass>
        <rptSeriesClassInfo>
          <seriesId>S000011821</seriesId>
          <classInfo>
            <classId>C000032303</classId>
          </classInfo>
        </rptSeriesClassInfo>
      </reportSeriesClass>
    </seriesClass>
  </headerData>
  <formData>
    <generalInfo reportEndingPeriod="2022-12-31" isReportPeriodLt12="N"/>
    <registrantInfo>
      <registrantFullName>ELFUN TRUSTS</registrantFullName>
      <investmentCompFileNo>811-00483</investmentCompFileNo>
      <registrantCik>0000032339</registrantCik>
      <registrantLei>549300YBNVDH5320R485</registrantLei>
      <registrantstreet1>One Iron Street</registrantstreet1>
      <registrantcity>Boston</registrantcity>
      <registrantzipCode>02210</registrantzipCode>
      <registrantstate>US-MA</registrantstate>
      <registrantcountry>US</registrantcountry>
      <registrantphoneNumber>617-664-7037</registrantphoneNumber>
      <websites>
        <website webpage="www.ssga.com"/>
      </websites>
      <locationBooksRecords>
        <locationBooksRecord>
          <officeName>State Street Bank and Trust Company</officeName>
          <officeAddress1>1 Lincoln Street</officeAddress1>
          <officeCity>Boston</officeCity>
          <officeStateCountry officeCountry="US" officeState="US-MA"/>
          <officeRecordsZipCode>02111</officeRecordsZipCode>
          <officePhone>617-786-3000</officePhone>
          <booksRecordsDesc>Records related to its functions as custodian, sub-administrator, accounting agent and transfer agent</booksRecordsDesc>
        </locationBooksRecord>
      </locationBooksRecords>
      <isRegistrantFirstFiling>N</isRegistrantFirstFiling>
      <isRegistrantLastFiling>N</isRegistrantLastFiling>
      <registrantFamilyInvComp isRegistrantFamilyInvComp="Y" familyInvCompFullName="State Street Global Advisors - advised funds"/>
      <registrantClassificationType>N-1A</registrantClassificationType>
      <totalSeries>1</totalSeries>
      <isSecuritiesActRegistration>Y</isSecuritiesActRegistration>
      <directors>
        <director>
          <directorName>Michael A. Jessee</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-05216"/>
            <fileNumberInfo fileNumber="811-09599"/>
            <fileNumberInfo fileNumber="811-04041"/>
            <fileNumberInfo fileNumber="811-09819"/>
            <fileNumberInfo fileNumber="811-05324"/>
            <fileNumberInfo fileNumber="811-05430"/>
            <fileNumberInfo fileNumber="811-02735"/>
            <fileNumberInfo fileNumber="811-07567"/>
            <fileNumberInfo fileNumber="811-03715"/>
            <fileNumberInfo fileNumber="811-05904"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Ellen M. Needham</directorName>
          <crdNumber>001981975</crdNumber>
          <isDirectorInterestedPerson>Y</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-09819"/>
            <fileNumberInfo fileNumber="811-02735"/>
            <fileNumberInfo fileNumber="811-09599"/>
            <fileNumberInfo fileNumber="811-04041"/>
            <fileNumberInfo fileNumber="811-05216"/>
            <fileNumberInfo fileNumber="811-07567"/>
            <fileNumberInfo fileNumber="811-05904"/>
            <fileNumberInfo fileNumber="811-05430"/>
            <fileNumberInfo fileNumber="811-05324"/>
            <fileNumberInfo fileNumber="811-03715"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Margaret McLaughlin</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-05216"/>
            <fileNumberInfo fileNumber="811-05324"/>
            <fileNumberInfo fileNumber="811-09599"/>
            <fileNumberInfo fileNumber="811-05904"/>
            <fileNumberInfo fileNumber="811-09819"/>
            <fileNumberInfo fileNumber="811-03715"/>
            <fileNumberInfo fileNumber="811-02735"/>
            <fileNumberInfo fileNumber="811-05430"/>
            <fileNumberInfo fileNumber="811-07567"/>
            <fileNumberInfo fileNumber="811-04041"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Donna M. Rapaccioli</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-04041"/>
            <fileNumberInfo fileNumber="811-02735"/>
            <fileNumberInfo fileNumber="811-03715"/>
            <fileNumberInfo fileNumber="811-05324"/>
            <fileNumberInfo fileNumber="811-09599"/>
            <fileNumberInfo fileNumber="811-05904"/>
            <fileNumberInfo fileNumber="811-05216"/>
            <fileNumberInfo fileNumber="811-05430"/>
            <fileNumberInfo fileNumber="811-09819"/>
            <fileNumberInfo fileNumber="811-07567"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>George M. Pereira</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-05430"/>
            <fileNumberInfo fileNumber="811-04041"/>
            <fileNumberInfo fileNumber="811-05216"/>
            <fileNumberInfo fileNumber="811-05324"/>
            <fileNumberInfo fileNumber="811-07567"/>
            <fileNumberInfo fileNumber="811-09819"/>
            <fileNumberInfo fileNumber="811-03715"/>
            <fileNumberInfo fileNumber="811-09599"/>
            <fileNumberInfo fileNumber="811-05904"/>
            <fileNumberInfo fileNumber="811-02735"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Richard D. Shirk</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-09819"/>
            <fileNumberInfo fileNumber="811-03715"/>
            <fileNumberInfo fileNumber="811-09599"/>
            <fileNumberInfo fileNumber="811-05216"/>
            <fileNumberInfo fileNumber="811-05904"/>
            <fileNumberInfo fileNumber="811-05430"/>
            <fileNumberInfo fileNumber="811-07567"/>
            <fileNumberInfo fileNumber="811-02735"/>
            <fileNumberInfo fileNumber="811-04041"/>
            <fileNumberInfo fileNumber="811-05324"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>John R. Costantino</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-09819"/>
            <fileNumberInfo fileNumber="811-04041"/>
            <fileNumberInfo fileNumber="811-05324"/>
            <fileNumberInfo fileNumber="811-05904"/>
            <fileNumberInfo fileNumber="811-03715"/>
            <fileNumberInfo fileNumber="811-05430"/>
            <fileNumberInfo fileNumber="811-05216"/>
            <fileNumberInfo fileNumber="811-09599"/>
            <fileNumberInfo fileNumber="811-02735"/>
            <fileNumberInfo fileNumber="811-07567"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Patrick J. Riley</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-03715"/>
            <fileNumberInfo fileNumber="811-07567"/>
            <fileNumberInfo fileNumber="811-05430"/>
            <fileNumberInfo fileNumber="811-09599"/>
            <fileNumberInfo fileNumber="811-05904"/>
            <fileNumberInfo fileNumber="811-09819"/>
            <fileNumberInfo fileNumber="811-05324"/>
            <fileNumberInfo fileNumber="811-05216"/>
            <fileNumberInfo fileNumber="811-04041"/>
            <fileNumberInfo fileNumber="811-02735"/>
          </fileNumbers>
        </director>
      </directors>
      <chiefComplianceOfficers>
        <chiefComplianceOfficer>
          <ccoName>Brian Harris</ccoName>
          <crdNumber>005599152</crdNumber>
          <ccoStreet1>One Iron Street</ccoStreet1>
          <ccoCity>Boston</ccoCity>
          <ccoStateCountry ccoCountry="US" ccoState="US-MA"/>
          <ccoZipCode>02110</ccoZipCode>
          <ccoPhone>XXXXXX</ccoPhone>
          <isCcoChangedSinceLastFiling>N</isCcoChangedSinceLastFiling>
          <ccoEmployers>
            <ccoEmployer ccoEmployerName="N/A" ccoEmployerId="N/A"/>
          </ccoEmployers>
        </chiefComplianceOfficer>
      </chiefComplianceOfficers>
      <isRegistrantSubmittedMatter>N</isRegistrantSubmittedMatter>
      <isPreviousLegalProceeding>N</isPreviousLegalProceeding>
      <isPreviousProceedingTerminated>N</isPreviousProceedingTerminated>
      <isClaimFiled>N</isClaimFiled>
      <coveredByInsurancePolicy isCoveredByInsurancePolicy="Y" isClaimFiledDuringPeriod="N"/>
      <isFinancialSupportDuringPeriod>N</isFinancialSupportDuringPeriod>
      <isExemptionFromAct>N</isExemptionFromAct>
      <principalUnderwriters>
        <principalUnderwriter>
          <principalUnderwriterName>State Street Global Advisors Funds Distributors, LLC</principalUnderwriterName>
          <principalUnderwriterFileNumber>8-44744</principalUnderwriterFileNumber>
          <principalUnderwriterCrdNumber>000030107</principalUnderwriterCrdNumber>
          <principalUnderwriterLei>54ZMQ1M7YQYKOZC8E043</principalUnderwriterLei>
          <principalUnderWriterStateCountry principalUnderWriterCountry="US" principalUnderWriterState="US-MA"/>
          <isPrincipalUnderwriterAffiliatedWithRegistrant>Y</isPrincipalUnderwriterAffiliatedWithRegistrant>
        </principalUnderwriter>
      </principalUnderwriters>
      <isUnderwriterHiredOrTerminated>N</isUnderwriterHiredOrTerminated>
      <publicAccountants>
        <publicAccountant>
          <publicAccountantName>Ernst &amp; Young LLP</publicAccountantName>
          <pcaobNumber>42</pcaobNumber>
          <publicAccountantLei>N/A</publicAccountantLei>
          <publicAccountantStateCountry publicAccountantCountry="US" publicAccountantState="US-MA"/>
        </publicAccountant>
      </publicAccountants>
      <isPublicAccountantChanged>N</isPublicAccountantChanged>
      <isMaterialWeakness>N</isMaterialWeakness>
      <isOpinionOffered>N</isOpinionOffered>
      <isMaterialChange>N</isMaterialChange>
      <isAccountingPrincipleChange>N</isAccountingPrincipleChange>
      <isPaymentErrorInNetAssetValue>N</isPaymentErrorInNetAssetValue>
      <isPaymentDividend>N</isPaymentDividend>
    </registrantInfo>
    <managementInvestmentQuestionSeriesInfo>
      <managementInvestmentQuestion>
        <mgmtInvFundName>ELFUN TRUSTS</mgmtInvFundName>
        <mgmtInvSeriesId>S000011821</mgmtInvSeriesId>
        <mgmtInvLei>549300YBNVDH5320R485</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>1</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Elfun Trusts" sharesOutstandingClassId="C000032303" sharesOutstandingTickerSymbol="ELFNX"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>State Street Bank and Trust Company</securitiesAgentName>
            <securitiesAgentLei>571474TGEMMWANRLN572</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>Y</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="SSGA Funds Management, Inc." collateralManagerLei="FT3UGI3NU6B7EELQF380" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="Y"/>
        </collateralManagers>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>N</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>N</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>SSGA Funds Management, Inc.</investmentAdviserName>
            <investmentAdviserFileNo>801-60103</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000111242</investmentAdviserCrdNo>
            <investmentAdviserLei>FT3UGI3NU6B7EELQF380</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-MA" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>U.S. Bancorp Fund Services, LLC</transferAgentName>
            <transferAgentFileNo>85-11357</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-WI" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Refinitiv US Holdings Inc.</pricingServiceName>
            <pricingServiceLei>549300NF240HXJO7N016</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>PricingDirect Inc.</pricingServiceName>
            <pricingServiceLei>549300WIC0TOJ7N7GD54</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Barclays Capital Inc.</pricingServiceName>
            <pricingServiceLei>AC28XWWI3WIBK2824319</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>IHS Markit Ltd.</pricingServiceName>
            <pricingServiceLei>549300HLPTRASHS0E726</pricingServiceLei>
            <pricingServiceCountry>GB</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Services, Inc.</pricingServiceName>
            <pricingServiceLei>13-3668779</pricingServiceLei>
            <pricingServiceIdNumberDesc>Tax ID</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>The Hongkong and Shanghai Banking Corporation Limited</custodianName>
            <custodianLei>2HI3YI5320L3RW6NJ957</custodianLei>
            <custodianCountry>HK</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>BNP Paribas Securities Services</custodianName>
            <custodianLei>549300WCGB70D06XZS54</custodianLei>
            <custodianCountry>FR</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>State Street Bank and Trust Company (Edinburgh, GB, Branch)</custodianName>
            <custodianLei>571474TGEMMWANRLN572</custodianLei>
            <custodianCountry>GB</custodianCountry>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>State Street Bank and Trust Company</custodianName>
            <custodianLei>571474TGEMMWANRLN572</custodianLei>
            <custodianStateCountry custodianState="US-MA" custodianCountry="US"/>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Self - rule 17f-2 (17 CFR 270.17f-2)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>U.S. Bancorp Fund Services, LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>85-11357</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-WI" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>State Street Bank and Trust Company</adminName>
            <adminLei>571474TGEMMWANRLN572</adminLei>
            <adminStateCountry adminState="US-MA" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>Y</isAdminSubAdmin>
          </admin>
          <admin>
            <adminName>SSGA Funds Management, Inc.</adminName>
            <adminLei>FT3UGI3NU6B7EELQF380</adminLei>
            <adminStateCountry adminState="US-MA" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>State Street Global Advisors Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44744</brokerDealerFileNo>
            <brokerDealerCrdNo>000030107</brokerDealerCrdNo>
            <brokerDealerLei>54ZMQ1M7YQYKOZC8E043</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-MA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>UBS Securities LLC</brokerName>
            <brokerFileNo>8-22651</brokerFileNo>
            <brokerCrdNo>000007654</brokerCrdNo>
            <brokerLei>T6FIZBDPKLYJKFCRVK44</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>21531.63000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Luminex Trading &amp; Analytics LLC</brokerName>
            <brokerFileNo>8-69476</brokerFileNo>
            <brokerCrdNo>000171752</brokerCrdNo>
            <brokerLei>254900ZBK50B4Y36MJ33</brokerLei>
            <brokerStateCountry brokerState="US-MA" brokerCountry="US"/>
            <grossCommission>8140.23000000</grossCommission>
          </broker>
          <broker>
            <brokerName>J.P. Morgan Securities LLC</brokerName>
            <brokerFileNo>8-35008</brokerFileNo>
            <brokerCrdNo>000000079</brokerCrdNo>
            <brokerLei>ZBUT11V806EZRVTWT807</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>41541.15000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Instinet, LLC</brokerName>
            <brokerFileNo>8-23669</brokerFileNo>
            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>18700.00000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Fidelity Brokerage Services LLC</brokerName>
            <brokerFileNo>8-23292</brokerFileNo>
            <brokerCrdNo>000007784</brokerCrdNo>
            <brokerLei>549300OQFQ4NFIOD5695</brokerLei>
            <brokerStateCountry brokerState="US-MA" brokerCountry="US"/>
            <grossCommission>104713.73000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Goldman Sachs &amp; Co. LLC</brokerName>
            <brokerFileNo>8-129</brokerFileNo>
            <brokerCrdNo>000000361</brokerCrdNo>
            <brokerLei>FOR8UP27PHTHYVLBNG30</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>89022.21000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Morgan Stanley &amp; Co. LLC</brokerName>
            <brokerFileNo>8-15869</brokerFileNo>
            <brokerCrdNo>000008209</brokerCrdNo>
            <brokerLei>9R7GPTSO7KV3UQJZQ078</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>22613.40000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Citigroup Global Markets Inc.</brokerName>
            <brokerFileNo>8-8177</brokerFileNo>
            <brokerCrdNo>000007059</brokerCrdNo>
            <brokerLei>MBNUM2BPBDO7JBLYG310</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>46325.38000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BofA Securities, Inc.</brokerName>
            <brokerFileNo>8-69787</brokerFileNo>
            <brokerCrdNo>000283942</brokerCrdNo>
            <brokerLei>549300HN4UKV1E2R3U73</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>25639.53000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Cantor Fitzgerald &amp; Co.</brokerName>
            <brokerFileNo>8-201</brokerFileNo>
            <brokerCrdNo>000000134</brokerCrdNo>
            <brokerLei>5493004J7H4GCPG6OB62</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>51985.29000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>450562.95000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>State Street Bank and Trust Company</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>571474TGEMMWANRLN572</principalLei>
            <principalStateCountry principalState="US-MA" principalCountry="US"/>
            <principalTotalPurchaseSale>923038967.24000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>923038967.24000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>Y</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>3337650245.55923076</mnthlyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Committed</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="Morgan Stanley Bank, N.A."/>
                <lineOfCreditInstitution creditInstitutionName="Wells Fargo Bank"/>
                <lineOfCreditInstitution creditInstitutionName="Credit Suisse AG"/>
                <lineOfCreditInstitution creditInstitutionName="JPMorgan Chase Bank, N.A."/>
                <lineOfCreditInstitution creditInstitutionName="Bank Of America, N.A."/>
                <lineOfCreditInstitution creditInstitutionName="The Bank Of Nova Scotia"/>
                <lineOfCreditInstitution creditInstitutionName="Goldman Sachs Bank USA"/>
                <lineOfCreditInstitution creditInstitutionName="Barclays Bank PLC"/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="SPDR Bloomberg Convertible Securities ETF" secFileNo="811-08839"/>
                <creditUser fundName="SPDR Bloomberg Short Term High Yield Bond ETF" secFileNo="811-08839"/>
                <creditUser fundName="SPDR SSGA Ultra Short Term Bond ETF" secFileNo="811-22542"/>
                <creditUser fundName="State Street Income Fund" secFileNo="811-21435"/>
                <creditUser fundName="State Street Institutional Premier Growth Equity Fund" secFileNo="811-08257"/>
                <creditUser fundName="SPDR FTSE International Government Inflation-Protected Bond ETF" secFileNo="811-08839"/>
                <creditUser fundName="State Street Institutional U.S. Equity Fund" secFileNo="811-08257"/>
                <creditUser fundName="SPDR Portfolio Aggregate Bond ETF" secFileNo="811-08839"/>
                <creditUser fundName="SPDR Portfolio Emerging Markets ETF" secFileNo="811-21145"/>
                <creditUser fundName="SPDR Bloomberg Short Term International Treasury Bond ETF" secFileNo="811-08839"/>
                <creditUser fundName="SPDR Portfolio Corporate Bond ETF" secFileNo="811-08839"/>
                <creditUser fundName="SPDR Blackstone Senior Loan ETF" secFileNo="811-22542"/>
                <creditUser fundName="State Street Equity 500 Index II Portfolio" secFileNo="811-09819"/>
                <creditUser fundName="Elfun International Equity Fund" secFileNo="811-05216"/>
                <creditUser fundName="SPDR S&amp;P International Dividend ETF" secFileNo="811-21145"/>
                <creditUser fundName="SPDR Bloomberg International Corporate Bond ETF" secFileNo="811-08839"/>
                <creditUser fundName="State Street Small-Cap Equity V.I.S. Fund" secFileNo="811-04041"/>
                <creditUser fundName="SPDR Bloomberg Investment Grade Floating Rate ETF" secFileNo="811-08839"/>
                <creditUser fundName="SPDR Portfolio Intermediate Term Corporate Bond ETF" secFileNo="811-08839"/>
                <creditUser fundName="State Street S&amp;P 500 Index V.I.S. Fund" secFileNo="811-04041"/>
                <creditUser fundName="State Street Income V.I.S. Fund" secFileNo="811-04041"/>
                <creditUser fundName="SPDR Loomis Sayles Opportunistic Bond ETF" secFileNo="811-22542"/>
                <creditUser fundName="State Street U.S. Core Equity Fund" secFileNo="811-01494"/>
                <creditUser fundName="State Street Global Equity ex-U.S. Index Portfolio" secFileNo="811-09819"/>
                <creditUser fundName="State Street Real Estate Securities V.I.S. Fund" secFileNo="811-04041"/>
                <creditUser fundName="State Street International Developed Equity Index Portfolio" secFileNo="811-09599"/>
                <creditUser fundName="Elfun Tax Exempt Income Fund" secFileNo="811-02735"/>
                <creditUser fundName="SPDR S&amp;P Emerging Markets Dividend ETF" secFileNo="811-21145"/>
                <creditUser fundName="State Street S&amp;P 500 Index Fund" secFileNo="811-05430"/>
                <creditUser fundName="SPDR MSCI Emerging Markets StrategicFactors ETF" secFileNo="811-21145"/>
                <creditUser fundName="SPDR Nuveen Bloomberg Short Term Municipal Bond ETF" secFileNo="811-08839"/>
                <creditUser fundName="SPDR Portfolio Short Term Corporate Bond ETF" secFileNo="811-08839"/>
                <creditUser fundName="SPDR MSCI ACWI Climate Paris Aligned ETF" secFileNo="811-21145"/>
                <creditUser fundName="State Street Small/Mid Cap Equity Index Portfolio" secFileNo="811-09819"/>
                <creditUser fundName="SPDR MSCI ACWI ex-US ETF" secFileNo="811-21145"/>
                <creditUser fundName="SPDR Blackstone High Income ETF" secFileNo="811-22542"/>
                <creditUser fundName="SPDR DoubleLine Total Return Tactical ETF" secFileNo="811-22542"/>
                <creditUser fundName="SPDR Bloomberg International Treasury Bond ETF" secFileNo="811-08839"/>
                <creditUser fundName="State Street U.S. Equity V.I.S. Fund" secFileNo="811-04041"/>
                <creditUser fundName="SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF" secFileNo="811-21145"/>
                <creditUser fundName="SPDR Bloomberg Emerging Markets Local Bond ETF" secFileNo="811-08839"/>
                <creditUser fundName="State Street Emerging Markets Equity Index Fund" secFileNo="811-09819"/>
                <creditUser fundName="Elfun Income Fund" secFileNo="811-03715"/>
                <creditUser fundName="SPDR DoubleLine Short Duration Total Return Tactical ETF" secFileNo="811-22542"/>
                <creditUser fundName="SPDR Portfolio Long Term Corporate Bond ETF" secFileNo="811-08839"/>
                <creditUser fundName="State Street Total Return V.I.S. Fund" secFileNo="811-04041"/>
                <creditUser fundName="SPDR Nuveen Bloomberg High Yield Municipal Bond ETF" secFileNo="811-08839"/>
                <creditUser fundName="Elfun Diversified Fund" secFileNo="811-05324"/>
                <creditUser fundName="SPDR S&amp;P Emerging Asia Pacific ETF" secFileNo="811-21145"/>
                <creditUser fundName="State Street Aggregate Bond Index Portfolio" secFileNo="811-09819"/>
                <creditUser fundName="State Street Premier Growth Equity V.I.S. Fund" secFileNo="811-04041"/>
                <creditUser fundName="SPDR S&amp;P Emerging Markets Small Cap ETF" secFileNo="811-21145"/>
                <creditUser fundName="SPDR Portfolio Mortgage Backed Bond" secFileNo="811-08839"/>
                <creditUser fundName="SPDR DoubleLine Emerging Markets Fixed Income ETF" secFileNo="811-22542"/>
                <creditUser fundName="SPDR Nuveen Bloomberg Municipal Bond ETF" secFileNo="811-08839"/>
                <creditUser fundName="State Street Institutional Small-Cap Equity Fund" secFileNo="811-08257"/>
                <creditUser fundName="State Street International Stock Selection Fund" secFileNo="811-05430"/>
                <creditUser fundName="SPDR Portfolio High Yield Bond" secFileNo="811-08839"/>
                <creditUser fundName="SPDR Bloomberg High Yield Bond ETF" secFileNo="811-08839"/>
                <creditUser fundName="SPDR S&amp;P International Small Cap ETF" secFileNo="811-21145"/>
              </sharedCreditType>
              <isCreditLineUsed>N</isCreditLineUsed>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
    </managementInvestmentQuestionSeriesInfo>
    <attachmentsTab>
      <isIPAReportInternalControl>true</isIPAReportInternalControl>
    </attachmentsTab>
    <signature registrantSignedName="ELFUN TRUSTS" signedDate="2023-03-15" signature="Arthur Jensen" title="Deputy Treasurer"/>
  </formData>
</edgarSubmission>
