General Electric RSP U.s. Equity Fund NCSR Certified annual shareholder report (management investment company)

General Electric RSP U.s. Equity Fund N-CSRCertified annual shareholder report (management investment company)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORMN-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number:811-01494

GENERAL ELECTRIC RSP U.S. EQUITY FUND

(Exact name of registrant as specified in charter)

1600 Summer Street, Stamford, Connecticut 06905

(Address of principal executive offices) (Zip code)

Joshua A. Weinberg, Esq.

Managing Director and Managing Counsel

c/o SSGA Funds Management, Inc.

One Iron Street

Boston, Massachusetts 02210

(Name and Address of Agent for Service)

Registrant’s telephone number, including area code:800-242-0134

Date of fiscal year end: December 31

Date of reporting period: December 31, 2018

Item 1. Shareholder Reports.

Annual Report

December 31, 2018

GE RSP Funds

U.S. Equity Fund

Income Fund

Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of a Fund’s annual and semi- annual shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports from the Fund (or from your financial intermediary, such as a broker-dealer or bank). Instead, the reports will be made available on a Fund’s website (www.ssga.com/geam), and you will be notified by mail each time a report is posted, and provided with a website link to access the report.

Beginning on January 1, 2019, you may elect to receive all future reports in paper free of charge. If you invest through a financial intermediary, you can contact your financial intermediary to request that you continue to receive paper copies of your shareholder reports. Your election to receive reports in paper will apply to all funds held in your account, if you invest through your financial intermediary or all funds held with the fund complex if you invest directly with a Fund.

LOGO

GE RSP Funds

Annual Report

December 31, 2018

Table of Contents


	Page
Notes to Performance		1
Manager Reviews and Schedules of Investments		2
Financial Statements
Financial Highlights		32
Statements of Assets and Liabilities		34
Statements of Operations		35
Statements of Changes in Net Assets		36
Notes to Financial Statements		37
Report of Independent Registered Public Accounting Firm		45
Tax Information		46
Advisory Agreement Renewal		47
Additional Information		50
Investment Team		53

GE RSP Funds

Notes to Performance — December 31, 2018 (Unaudited)

The information provided on the performance pages relates to the GE RSP U.S. Equity Fund and GE RSP Income Fund (each, a “Fund” and collectively, the “Funds”).

Total returns take into account changes in share price and assume reinvestment of dividends and capital gains distributions, if any. Total returns shown are net of Fund expenses.

The performance data quoted represents past performance; past performance does not guarantee future results. Investment return and principal value will fluctuate so your shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance data quoted. Periods less than one year are not annualized. Please call toll-free (800) 242-0134 or visit the Funds’ website at http://www.ssga.com/geam for the most recent month-end performance data.

An investment in a Fund is not a deposit of any bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any other government agency. An investment in a Fund is subject to risk, including possible loss of principal invested.

The S&P^® 500 Index is an unmanaged, market capitalization-weighted index of stocks of 500 large U.S. companies, which is widely used as a measure of large-cap stock market performance.

The Bloomberg Barclays U.S. Aggregate Bond Index is an unmanaged market value-weighted index of taxable investment grade debt issues, including government, corporate, asset-backed and mortgage-backed securities, with maturities of one year or more. This index is designed to represent the performance of the U.S. investment-grade first rate bond market.

The results shown for the foregoing indices assume the reinvestment of net dividends or interest and do not reflect fees, expenses, or taxes. As such, index returns do not reflect the actual cost of investing in the instruments that comprise an index.

The views expressed in this document reflect our judgment as of the publication date and are subject to change at any time without notice.


Notes to Performance			1

GE RSP U.S. Equity Fund

Management Discussion of Fund Performance — December 31, 2018 (Unaudited)

The GE RSP U.S. Equity Fund (the “Fund”) seeks to provide long-term growth of capital. The Fund’s benchmark is the S&P 500 Index (the “Index”).

For the12-month period ended December 31, 2018 (the “Reporting Period”), the total return for the Fund was-3.05% and the Index was-4.38%. The Fund and Index returns reflect the reinvestment of dividends and other income. The Fund’s performance reflects the expenses of managing the Fund, including brokerage and advisory expenses. The Index is unmanaged and Index returns do not reflect fees and expenses of any kind, which would have a negative impact on returns.

The Fund’s preference for companies with sustainable earnings growth, positive sector allocation and positive stock selection were primary drivers of Fund performance during the Reporting Period relative to the Index. In a year where growth outperformed value, the Fund’s growth tilt contributed to its outperformance against the Index. In terms of sector positioning, the Fund benefited both from overweighting the outperforming technology sector and underweighting the consumer staples and industrials sectors, which lagged. Positive stock selection was concentrated in the financials and information technology sectors, with a modest drag from energy-sector and health care holdings trimming outperformance. In late-year volatility, the Fund’s quality bias contributed to down market protection against a falling Index in the fourth quarter.

The Fund did not invest in derivatives during the Reporting Period.

On an individual security level, the top positive contributors to the Fund’s performance on an absolute basis during the Reporting Period were Visa Inc., Boston Scientific Corp. and CME Group. The top negative contributors to the Fund’s performance on an absolute basis during the Reporting Period were Applied Materials Inc., United Rentals Inc. and Schlumberger Limited.

The views expressed above reflect those of the Fund’s portfolio manager only through the Reporting Period, and do not necessarily represent the views of the Adviser as a whole. Any such views are subject to change at any time based upon market or other conditions and the Adviser disclaims any responsibility to update such views. These views may not be relied on as investment advice and, because investment decisions for a fund are based on numerous factors, may not be relied on as an indication of trading intent on behalf of any fund.


2		GE RSP U.S. Equity Fund

GE RSP U.S. Equity Fund

Understanding Your Fund’s Expenses — December 31, 2018 (Unaudited)

As a shareholder of the Fund you incur ongoing costs. Ongoing costs include portfolio management fees, professional fees, administrative fees and other Fund expenses. The following example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

To illustrate these ongoing costs, we have provided an example and calculated the expenses paid by investors in shares of the Fund during the period. The information in the following table is based on an investment of $1,000, which is invested at the beginning of the period and held for the entiresix-month period ended December 31, 2018.

Actual Expenses

The first section of the table provides information about actual account values and actual expenses. You may use the information in this section, together with the amount you invested, to estimate the expenses that you paid over the period. To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given under the heading “Expenses paid during the period” to estimate the expenses you paid on your account during the period.

Hypothetical Example for Comparison Purposes

The second section of the table provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholders reports of other funds.

Please note that the expenses shown in the table are meant to highlight and help you compare ongoing costs only and do not reflect transaction costs, such as sales charges or redemption fees, if any. Therefore, the second section of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds.

July 1, 2018 - December 31, 2018


	Actual Fund Return		Hypothetical 5% Return (2.5% for the period)
Account value at the beginning of the period	$	1,000.00	$	1,000.00
Account value at the end of the period	$	938.60	$	1,024.50
Expenses paid during the period*	$	0.68	$	0.71

*	Expenses are equal to the Fund’s annualized expense ratio of 0.14% (for the period July 1, 2018-December 31, 2018), multiplied by the average account value over the period, multiplied by 184/365 (to reflect theone-half year period).


GE RSP U.S. Equity Fund			3

GE RSP U.S. Equity Fund

Performance Summary — December 31, 2018 (Unaudited)

Top Ten Largest Holdings

as of December 31, 2018 (as a % of Fair Value)^(a)


Microsoft Corp.	4.74	%

Amazon.com Inc.	3.75	%

Visa Inc., Class A	3.49	%

Apple Inc.	3.26	%

JPMorgan Chase & Co.	3.23	%

Alphabet Inc., Class A	2.87	%

PepsiCo Inc.	2.59	%

UnitedHealth Group Inc.	2.33	%

Gilead Sciences Inc.	1.99	%

Mondelez International Inc., Class A	1.96	%

Sector Allocation

Portfolio Composition as a % of Fair Value of $4,514,611 (in thousands) as of December 31, 2018^(a)

LOGO

Average Annual Total Return for the periods ended December 31, 2018

(Inception date: 01/01/80)


	One Year			Five Year			Ten Year			Ending Value of a $10,000 Investment
GE RSP U.S. Equity Fund		-3.05	%		7.38	%		12.47	%	$	32,385

S&P 500^® Index		-4.38	%		8.50	%		13.12	%	$	34,304

(a)

The securities information regarding holdings, allocations and other characteristics is presented to illustrate examples of securities that the Fund has bought and the diversity of areas in which the Fund may invest as of a particular date. It may not be representative of the Fund’s current or future investments and should not be construed as a recommendation to purchase or sell a particular security.


4		GE RSP U.S. Equity Fund

GE RSP U.S. Equity Fund

Performance Summary, continued — December 31, 2018 (Unaudited)

LOGO

See Notes to Performance beginning on page 1 for further information.

Past performance does not predict future performance. The performance shown in the graphs and tables does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares and does not reflect the fees or charges that would be associated with variable contracts through which shares of the Fund are offered.


GE RSP U.S. Equity Fund			5

GE RSP U.S. Equity Fund

Schedule of Investments — December 31, 2018


	Number of Shares		Fair Value $


Common Stock - 96.0%†
Aerospace & Defense - 1.4%
General Dynamics Corp.		84,539		13,290,376
Hexcel Corp.		213,753		12,256,597
Raytheon Co.		155,290		23,813,722
The Boeing Co.		51,014		16,452,015

				65,812,710


Air Freight & Logistics - 0.5%
FedEx Corp.		52,241		8,428,041
United Parcel Service Inc., Class B		143,125		13,958,981

				22,387,022


Airlines - 0.3%
Alaska Air Group Inc.		136,272		8,292,151
JetBlue Airways Corp. (a)		287,814		4,622,293

				12,914,444


Application Software - 1.8%
Adobe Inc. (a)		76,721		17,357,359
Intuit Inc.		55,471		10,919,466
salesforce.com Inc. (a)		417,649		57,205,384

				85,482,209


Auto Parts & Equipment - 0.3%
Aptiv PLC		206,746		12,729,351


Automotive Retail - 0.5%
AutoZone Inc. (a)		25,379		21,276,231


Biotechnology - 4.2%
Alexion Pharmaceuticals Inc. (a)		166,487		16,209,174
Biogen Inc. (a)		203,735		61,307,936
Gilead Sciences Inc.		1,436,665		89,863,396
Vertex Pharmaceuticals Inc. (a)		192,086		31,830,571

				199,211,077


Building Products - 0.3%
Allegion PLC		179,629		14,318,228


Cable & Satellite - 2.0%
Charter Communications Inc., Class A (a)		215,908		61,527,303
Comcast Corp., Class A		996,463		33,929,565

				95,456,868


Communications Equipment - 0.7%
Cisco Systems Inc.		753,355		32,642,872


Construction Materials - 0.1%
Vulcan Materials Co.		32,333		3,194,500


Consumer Finance - 0.3%
American Express Co.		173,591		16,546,694


	Number of Shares		Fair Value $
Data Processing & Outsourced Services - 3.9%
Mastercard Inc., Class A		142,775		26,934,504
Visa Inc., Class A		1,192,745		157,370,775

				184,305,279


Diversified Banks - 4.1%
JPMorgan Chase & Co.		1,494,178		145,861,656
U.S. Bancorp		218,701		9,994,636
Wells Fargo & Co.		843,313		38,859,863

				194,716,155


Diversified Chemicals - 0.6%
DowDuPont Inc.		507,322		27,131,581


Electric Utilities - 1.5%
American Electric Power Company Inc.		177,513		13,267,321
Duke Energy Corp.		50,910		4,393,533
Edison International		93,197		5,290,794
Exelon Corp.		412,927		18,623,008
NextEra Energy Inc.		162,753		28,289,726

				69,864,382


Electrical Components & Equipment - 0.4%
Emerson Electric Co.		355,729		21,254,808


Electronic Components - 1.3%
Corning Inc.		2,089,201		63,114,762


Environmental & Facilities Services - 0.2%
Republic Services Inc.		123,572		8,908,306


Fertilizers & Agricultural Chemicals - 0.1%
The Mosaic Co.		242,792		7,091,954


Financial Exchanges & Data - 2.9%
CME Group Inc.		336,799		63,358,628
MSCI Inc.		105,414		15,541,186
S&P Global Inc.		348,464		59,217,972

				138,117,786


Footwear - 0.7%
NIKE Inc., Class B		446,289		33,087,866


General Merchandise Stores - 0.4%
Dollar Tree Inc. (a)		186,583		16,852,177


Gold - 0.1%
Newmont Mining Corp.		123,456		4,277,750


Healthcare Distributors - 0.2%
Henry Schein Inc. (a)		107,152		8,413,575

See Notes to Schedules of Investments and Notes to Financial Statements.


6		GE RSP U.S. Equity Fund

GE RSP U.S. Equity Fund

Schedule of Investments, continued — December 31, 2018


	Number of Shares		Fair Value $

Healthcare Equipment - 1.9%
Becton Dickinson and Co.		80,881		18,224,107
Boston Scientific Corp. (a)		1,161,561		41,049,566
Medtronic PLC		309,070		28,113,007

				87,386,680


Healthcare Services - 1.1%
Cigna Corp.		131,654		25,003,728
DaVita Inc. (a)		273,197		14,058,717
Quest Diagnostics Inc.		164,784		13,721,564

				52,784,009


Healthcare Supplies - 0.4%
The Cooper Companies Inc.		69,421		17,667,645


Home Improvement Retail - 0.5%
The Home Depot Inc.		149,591		25,702,726


Hotels, Resorts & Cruise Lines - 0.3%
Marriott International Inc., Class A		118,833		12,900,511


Household Products - 1.0%
The Procter & Gamble Co.		509,386		46,822,761


Hypermarkets & Super Centers - 0.3%
Walmart Inc.		166,144		15,476,314


Independent Power Producers & Energy Traders - 0.1%
NRG Energy Inc.		95,306		3,774,118


Industrial Conglomerates - 1.2%
Honeywell International Inc.		246,128		32,518,431
Roper Technologies Inc.		82,369		21,952,986

				54,471,417


Industrial Gases - 0.5%
Air Products & Chemicals Inc.		112,737		18,043,557
Linde PLC		40,157		6,266,098

				24,309,655


Industrial Machinery - 2.6%
Ingersoll-Rand PLC		666,974		60,848,038
Xylem Inc.		917,906		61,242,688

				122,090,726


Insurance Brokers - 0.3%
Marsh & McLennan Companies Inc.		182,698		14,570,166


Integrated Oil & Gas - 2.5%
Chevron Corp.		666,512		72,509,840
Exxon Mobil Corp.		634,346		43,256,054

				115,765,894


	Number of Shares		Fair Value $
Integrated Telecommunication Services - 0.7%
AT&T Inc.		347,587		9,920,133
Verizon Communications Inc.		446,665		25,111,506

				35,031,639


Interactive Home Entertainment - 0.3%
Activision Blizzard Inc.		180,731		8,416,643
Electronic Arts Inc. (a)		91,671		7,233,758

				15,650,401


Interactive Media & Services - 5.7%
Alphabet Inc., Class A (a)		124,007		129,582,355
Alphabet Inc., Class C (a)		66,255		68,614,340
Facebook Inc., Class A (a)		531,979		69,737,127

				267,933,822


Internet & Direct Marketing Retail - 4.4%
Amazon.com Inc. (a)		112,591		169,108,304
Booking Holdings Inc. (a)		20,954		36,091,589

				205,199,893


Investment Banking & Brokerage - 1.0%
The Charles Schwab Corp.		1,148,710		47,705,926


IT Consulting & Other Services - 0.6%
Accenture PLC, Class A		99,360		14,010,754
International Business Machines Corp.		141,551		16,090,102

				30,100,856


Life & Health Insurance - 0.3%
Prudential Financial Inc.		156,604		12,771,056


Life Sciences Tools & Services - 0.8%
IQVIA Holdings Inc. (a)		199,661		23,194,618
Thermo Fisher Scientific Inc.		25,582		5,724,996
Waters Corp. (a)		46,340		8,742,041

				37,661,655


Managed Healthcare - 2.7%
Humana Inc.		82,491		23,632,022
UnitedHealth Group Inc.		421,434		104,987,638

				128,619,660


Movies & Entertainment - 2.3%
Netflix Inc. (a)		88,325		23,641,069
The Walt Disney Co.		788,415		86,449,705

				110,090,774


Multi-Line Insurance - 0.3%
American International Group Inc.		150,290		5,922,929
The Hartford Financial Services Group Inc.		172,652		7,674,381

				13,597,310

See Notes to Schedules of Investments and Notes to Financial Statements.


GE RSP U.S. Equity Fund			7

GE RSP U.S. Equity Fund

Schedule of Investments, continued — December 31, 2018


	Number of Shares		Fair Value $

Multi-Sector Holdings - 1.3%
Berkshire Hathaway Inc., Class B (a)		296,548		60,549,171


Multi-Utilities - 1.1%
Dominion Energy Inc.		139,253		9,951,019
Sempra Energy		376,847		40,771,077

				50,722,096


Oil & Gas Equipment & Services - 0.9%
Schlumberger Ltd.		1,208,586		43,605,783


Oil & Gas Exploration & Production - 1.6%
Concho Resources Inc. (a)		108,263		11,128,354
ConocoPhillips		264,457		16,488,894
Diamondback Energy Inc.		419,001		38,841,393
EOG Resources Inc.		90,341		7,878,638

				74,337,279


Oil & Gas Refining & Marketing - 0.3%
Marathon Petroleum Corp.		203,902		12,032,257


Packaged Foods & Meats - 2.1%
Mondelez International Inc., Class A		2,212,506		88,566,615
The Kraft Heinz Co.		250,307		10,773,213

				99,339,828


Pharmaceuticals - 4.7%
Allergan PLC		528,030		70,576,490
Elanco Animal Health Inc. (a)		339,283		10,697,593
Johnson & Johnson		429,149		55,381,679
Merck & Company Inc.		240,252		18,357,655
Mylan N.V. (a)		1,025,088		28,087,411
Pfizer Inc.		823,812		35,959,394

				219,060,222


Property & Casualty Insurance - 0.4%
Chubb Ltd.		153,798		19,867,626


Railroads - 0.5%
Union Pacific Corp.		180,778		24,988,943


Regional Banks - 1.6%
First Republic Bank		893,347		77,631,854


Restaurants - 1.1%
McDonald’s Corp.		279,772		49,679,114


Semiconductor Equipment - 1.6%
Applied Materials Inc.		2,251,249		73,705,892


	Number of Shares		Fair Value $
Semiconductors - 2.8%
Broadcom Inc.		330,013		83,915,706
Intel Corp.		577,679		27,110,475
NVIDIA Corp.		138,805		18,530,468

				129,556,649


Soft Drinks - 2.5%
PepsiCo Inc.		1,058,092		116,898,004


Specialized REITs - 0.8%
American Tower Corp.		240,187		37,995,182


Specialty Chemicals - 0.8%
Albemarle Corp.		311,544		24,010,696
PPG Industries Inc.		119,596		12,226,299

				36,236,995


Specialty Stores - 0.3%
Ulta Salon Cosmetics & Fragrance Inc. (a)		50,362		12,330,632


Steel - 0.0%*
Steel Dynamics Inc.		66,898		2,009,616


Systems Software - 5.8%
Microsoft Corp.		2,109,197		214,231,139
Oracle Corp.		649,398		29,320,320
Proofpoint Inc. (a)		104,118		8,726,130
Red Hat Inc. (a)		30,347		5,330,147
ServiceNow Inc. (a)		81,348		14,484,011

				272,091,747


Technology Hardware, Storage & Peripherals - 3.1%
Apple Inc.		933,087		147,185,143


Tobacco - 0.5%
Philip Morris International Inc.		357,858		23,890,600


Trading Companies & Distributors - 1.4%
United Rentals Inc. (a)		624,365		64,016,143


Wireless Telecommunication Services - 0.2%
T-Mobile US Inc. (a)		152,268		9,685,768


Total Common Stock (Cost $3,945,237,346)				4,514,610,745


Total Investments (Cost $3,945,237,346)				4,514,610,745

Other Assets and Liabilities, net - 4.0%				185,663,240


NET ASSETS - 100.0%				4,700,273,985

See Notes to Schedules of Investments and Notes to Financial Statements.


8		GE RSP U.S. Equity Fund

GE RSP U.S. Equity Fund

Schedule of Investments, continued — December 31, 2018

The following table presents the Fund’s investments measured at fair value on a recurring basis at December 31, 2018:


Fund	Investments	Level 1		Level 2		Level 3		Total


GE RSP U.S. Equity Fund	Investments in Securities

	Common Stock	$	4,514,610,745	$	—	$	—	$	4,514,610,745


	Total Investments in Securities	$	4,514,610,745	$	—	$	—	$	4,514,610,745

Affiliate Table


	Number of Shares Held at 12/31/17		Value At 12/31/17		Cost of Purchases		Proceeds from Shares Sold		Number of Shares Held at 12/31/18		Value at 12/31/18		Dividend Income

State Street Corporation (Time Deposit)		172,823,564	$	172,823,564	$	18,007,908,066	$	18,180,731,630		—	$	—	$	192,259

See Notes to Schedules of Investments and Notes to Financial Statements.


GE RSP U.S. Equity Fund			9

GE RSP Income Fund

Management Discussion of Fund Performance — December 31, 2018 (Unaudited)

The GE RSP Income Fund (the “Fund”) seeks a high interest rate of return over the long term consistent with the preservation of capital. The Fund’s benchmark is the Bloomberg Barclays U.S. Aggregate Bond Index (the “Index”).

For the12-month period ended December 31, 2018 (the “Reporting Period”), the total return for the Fund was-0.75% and the Index was 0.01%. The Fund and Index returns reflect the reinvestment of dividends and other income. The Fund’s performance reflects the expenses of managing the Fund, including brokerage and advisory expenses. The Index is unmanaged and Index returns do not reflect fees and expenses of any kind, which would have a negative impact on returns.

The primary drivers of Fund underperformance relative to the Index were the Fund’s over-weights to both high yield and investment grade corporates. The Fund’s underweight to mortgage backed securities offset some underperformance versus the Index.

We expected the credit and economics cycles to continue, which they have. However, trade tensions between the U.S. & China, BREXIT, equity and commodity volatility weighed heavily on the credit markets causing high yield and investment grade corporate spreads to widen 183bps (108bps in December alone) and 47bps, respectively, negatively impacting the Fund’s performance.

The Fund had a large underweight in our mortgage backed securities position anticipating volatility in that asset class as the Federal Reserve would begin reducing its balance sheet exposure. Mortgage spreads did widen in the fourth quarter and we pared our position still maintaining an underweight. This activity provided positive excess returns.

The Fund used treasury futures, interest rate swaps and other derivatives in order to actively manage duration during the Reporting Period. The Fund’s use of these derivatives contributed to fund liquidity and key rate exposure management versus utilizing cash instruments only.


10		GE RSP Income Fund

GE RSP Income Fund

Understanding Your Fund’s Expenses — December 31, 2018 (Unaudited)

Actual Expenses

Hypothetical Example for Comparison Purposes

July 1, 2018 - December 31, 2018


	Actual Fund Return		Hypothetical 5% Return (2.5% for the period)
Account value at the beginning of the period	$	1,000.00	$	1,000.00
Account value at the end of the period	$	1,012.70	$	1,024.30
Expenses paid during the period*	$	0.91	$	0.92

*	Expenses are equal to the Fund’s annualized expense ratio of 0.18%** (for the period July 1, 2018-December 31, 2018), multiplied by the average account value over the period, multiplied by 184/365 (to reflect theone-half year period).

**	May differ from expense ratio disclosed in the financial highlights, which is calculated based on the entire fiscal year’s data.


GE RSP Income Fund			11

GE RSP Income Fund

Performance Summary — December 31, 2018 (Unaudited)

Quality Ratings

as of December 31, 2018 as a % of Fair Value^(a)


Moody’s / S&P /Rating*	Percentage of Fair Value
Aaa / AAA		4.74	%

Aa / AA		51.95	%

A / A		9.07	%

Baa / BBB		23.69	%

Ba / BB and lower		10.18	%

NR / Other		0.37	%

Sector Allocation

Portfolio Composition as a % of Fair Value of $1,955,483 (in thousands) on December 31, 2018^(a)

LOGO

Average Annual Total Return for the periods ended December 31, 2018

Investment Class Shares (Inception date: 01/03/80)


	One Year			Five Year			Ten Year			Ending Value of a $10,000 Investment
GE RSP Income Fund		-0.75	%		2.55	%		4.11	%	$	14,960

Bloomberg Barclays U.S. Aggregate Bond Index		0.01	%		2.52	%		3.48	%	$	14,075

(a)

Moody’s Investors Services, Inc. (“Moody’s”) and S&P Global Ratings (“S&P”) are nationally recognized statistical rating organizations. The quality ratings represent the lower of Moody’s or S&P credit ratings. When a rating from only one of the rating agencies is available, that rating is used. Securities not rated by Moody’s or S&P are categorized as not rated. Credit quality measures a bond issuer’s ability to repay interest and principal in a timely manner. Credit quality ratings assigned by a rating agency are subject to change periodically and are not absolute standards of quality. In formulating investment decisions for the Fund, SSGA Funds Management, Inc. develops its own analysis of the credit quality and risks associated with individual debt instruments, rather than relying exclusively on rating agency ratings.


12		GE RSP Income Fund

GE RSP Income Fund

Performance Summary, continued — December 31, 2018 (Unaudited)

LOGO

See Notes to Performance beginning on page 1 for further information.


GE RSP Income Fund			13

GE RSP Income Fund

Schedule of Investments — December 31, 2018


	Principal Amount ($) or Number of Shares		Fair Value $


Bonds and Notes - 98.1%†
U.S. Treasuries - 26.7%
U.S. Treasury Bonds
2.25% 08/15/46		14,668,000		12,534,109
2.75% 11/15/42		6,308,000		6,030,683
3.13% 05/15/48		9,535,300		9,716,543
3.75% 11/15/43		2,856,000		3,225,167
4.50% 02/15/36		16,141,800		19,897,133
U.S. Treasury Notes
1.38% 12/15/19 (e)		83,874,600		82,880,914
1.50% 11/30/19 - 08/15/20 (e)		111,363,500		110,023,916
2.25% 03/31/20 (e)		83,482,300		83,148,178
2.75% 11/15/23		91,483,100		92,498,172
2.88% 11/30/25 - 08/15/28		110,449,600		112,345,748

				532,300,563


Agency Mortgage Backed - 20.0%
Federal Home Loan Mortgage Corp.
4.05% 09/25/28 (h)		9,122,000		9,606,966
4.50% 06/01/33 - 02/01/35		82,114		85,926
5.00% 07/01/35		727,293		773,604
5.50% 05/01/20 - 04/01/39		1,372,797		1,476,806
6.00% 07/01/19 - 11/01/37		2,651,409		2,910,577
6.50% 07/01/29		17,641		18,503
7.00% 01/01/27 - 08/01/36		592,354		654,513
7.50% 01/01/28 - 09/01/33		37,814		40,198
8.00% 11/01/30		3,288		3,578
8.50% 04/01/30		7,348		8,984
Federal National Mortgage Assoc.
3.50% 08/01/45		943,927		946,923
4.00% 05/01/19 - 12/01/41		13,222,409		13,609,332
4.50% 05/01/19 - 02/01/40		6,801,732		7,118,669
5.00% 07/01/20 - 05/01/39		2,399,430		2,550,044
5.50% 06/01/20 - 01/01/39		7,609,515		8,192,607
6.00% 09/01/19 - 05/01/41		12,586,844		13,886,555
6.50% 05/01/21 - 08/01/36		534,589		576,334
7.00% 10/01/32 - 02/01/34		44,028		46,528
7.50% 11/01/22 - 12/01/33		270,228		294,766
8.00% 06/01/24 - 10/01/31		105,919		113,670
8.50% 04/01/30		19,897		23,299
9.00% 06/01/21 - 12/01/22		15,687		16,457
Federal National Mortgage Assoc. 1.60% + 12 month USD LIBOR
3.97% 04/01/37 (h)		17,132		17,530
Federal National Mortgage Assoc. TBA
2.50% TBA (c)		41,948,000		40,977,994
3.00% TBA (c)		69,057,291		67,534,580
3.50% TBA (c)		41,397,000		41,384,001
4.00% TBA (c)		49,846,000		50,812,514
4.50% TBA (c)		14,087,000		14,582,862
Government National Mortgage Assoc.
4.00% 01/20/41 - 04/20/43		13,794,178		14,253,890
4.50% 08/15/33 - 03/20/41		5,652,553		5,915,881


	Principal Amount ($) or Number of Shares		Fair Value $
5.00% 08/15/33		282,348		294,849
6.00% 04/15/27 - 09/15/36		799,703		885,288
6.50% 04/15/19 - 09/15/36		674,246		725,966
7.00% 03/15/26 - 10/15/36		377,594		413,855
7.50% 11/15/22 - 11/15/31		137,826		145,217
8.00% 12/15/29 - 05/15/30		1,264		1,368
9.00% 10/15/19 - 12/15/21		10,077		10,366
Government National Mortgage Assoc. 1.50% + 1 year CMT
3.13% 11/20/21 - 10/20/25 (h)		6,136		6,216
3.38% 01/20/24 - 03/20/24 (h)		1,895		1,916
3.63% 05/20/21 - 04/20/24 (h)		1,475		1,490
3.75% 08/20/23 - 09/20/24 (h)		2,561		2,584
Government National Mortgage Assoc. TBA
3.00% TBA (c)		19,886,000		19,577,807
3.50% TBA (c)		78,509,000		79,050,712

				399,551,725


Agency Collateralized Mortgage Obligations - 0.8%
Federal Home Loan Mortgage Corp.
0.08% 09/25/43 (h)(g)(e)		5,876,815		15,151
3.86% 11/25/28 (h)		3,888,000		4,037,187
4.06% 10/25/28 (h)		6,631,000		6,985,473
Federal Home Loan Mortgage Corp. REMIC
3.50% 11/15/24 - 11/15/30 (g)(e)		2,530,513		192,041
5.50% 06/15/33 (g)(e)		252,255		49,703
7.50% 07/15/27 (g)(e)		10,866		2,145
Federal Home Loan Mortgage Corp. REMIC 6.60% - 1 month USD LIBOR
4.14% 08/15/25 (h)(g)(e)		976,421		50,342
Federal Home Loan Mortgage Corp. STRIPS
1.47% 08/01/27 (d)(f)(e)		7,097		6,237
8.00% 02/01/23 - 07/01/24 (g)(e)		21,774		3,043
Federal National Mortgage Assoc. REMIC
0.51% 12/25/22 (d)(f)(e)		5,438		5,329
1.10% 12/25/42 (h)(g)(e)		833,166		60,700
5.00% 02/25/40 - 09/25/40 (g)(e)		1,114,680		129,653
8.00% 05/25/22 (g)(e)		17		188
Federal National Mortgage Assoc. REMIC 6.00% - 1 month USD LIBOR
3.49% 07/25/38 (h)(g)(e)		330,531		43,133
Federal National Mortgage Assoc. REMIC 6.20% - 1 month USD LIBOR
3.69% 06/25/48 (h)(g)(e)		17,568,906		2,875,832
Federal National Mortgage Assoc. STRIPS
1.87% 12/25/34 (d)(f)(e)		235,890		197,007
4.50% 08/25/35 - 01/25/36 (g)(e)		593,087		73,622
5.00% 03/25/38 - 05/25/38 (g)(e)		327,576		70,049
5.50% 12/25/33 (g)(e)		90,426		19,883
6.00% 01/25/35 (g)(e)		343,002		79,671
7.50% 11/25/23 (g)(e)		73,018		8,841

See Notes to Schedules of Investments and Notes to Financial Statements.


14		GE RSP Income Fund

GE RSP Income Fund

Schedule of Investments, continued — December 31, 2018


	Principal Amount ($) or Number of Shares		Fair Value $

8.00% 08/25/23 - 07/25/24 (g)(e)		44,163		6,270
8.50% 07/25/22 (g)(e)		11,058		944
9.00% 05/25/22 (g)(e)		9,047		701
Government National Mortgage Assoc. REMIC
4.50% 05/20/38 - 08/16/39 (g)(e)		715,116		50,015
5.00% 09/20/38 (g)(e)		183,303		5,481
Government National Mortgage Assoc. REMIC 6.80% - 1 month USD LIBOR
4.34% 01/16/40 (h)(g)(e)		1,907,519		318,317

				15,286,958


Asset Backed - 2.8%
American Express Credit Account Master Trust2017-6
2.04% 05/15/23 (e)		13,794,124		13,588,902
American Express Credit Account Master Trust2018-1
2.67% 10/17/22 (e)		5,407,000		5,387,144
American Express Credit Account Master Trust2018-8
3.18% 04/15/24 (e)		11,065,000		11,145,912
BA Credit Card Trust2018-A1
2.70% 07/17/23 (e)		4,744,000		4,724,472
BMW Floorplan Master Owner Trust2018-1
3.15% 05/15/23 (e)		2,965,000		2,969,283
Chase Funding Trust2004-1
4.99% 11/25/33 (i)(e)		691,232		691,232
Citibank Credit Card Issuance Trust2016-A1
1.75% 11/19/21 (e)		16,512,000		16,340,337
Irwin Home Equity Loan Trust2006-2 0.30% + 1 month USD LIBOR
2.81% 02/25/36 (h)(e)		46,657		45,370
Securitized Term Auto Receivables Trust2018-1A
3.30% 11/25/22 (e)		1,400,000		1,400,822

				56,293,474


Corporate Notes - 43.2%
1011778 BC ULC/New Red Finance Inc.
4.25% 05/15/24 (b)		790,000		725,481
21st Century Fox America Inc.
3.38% 11/15/26 (e)		206,000		203,192
4.50% 02/15/21 (e)		716,000		734,480
4.75% 11/15/46 (e)		136,000		145,187
6.65% 11/15/37 (e)		922,000		1,185,969
Abbott Laboratories
2.90% 11/30/21 (e)		2,763,000		2,736,945
3.75% 11/30/26 (e)		703,000		694,747
4.90% 11/30/46 (e)		855,000		898,810
AbbVie Inc.
3.20% 05/14/26 (e)		1,106,000		1,024,421
4.45% 05/14/46 (e)		878,000		771,744
4.70% 05/14/45 (e)		335,000		306,254
4.88% 11/14/48		319,000		297,707
Acadia Healthcare Company Inc.
6.50% 03/01/24 (e)		1,995,000		1,920,467


	Principal Amount ($) or Number of Shares		Fair Value $
Activision Blizzard Inc.
2.30% 09/15/21 (e)		4,113,000		4,002,977
AES Corp.
4.88% 05/15/23 (e)		2,065,000		2,019,405
Aetna Inc.
3.50% 11/15/24 (e)		992,000		957,875
Aflac Inc.
4.00% 10/15/46 (e)		280,000		257,272
Alexandria Real Estate Equities Inc.
4.70% 07/01/30 (e)		527,000		533,651
Alibaba Group Holding Ltd.
3.40% 12/06/27 (e)		545,000		504,534
4.00% 12/06/37 (e)		450,000		403,907
4.20% 12/06/47 (e)		339,000		301,052
4.40% 12/06/57 (e)		231,000		207,112
4.50% 11/28/34 (e)		949,000		920,748
Alimentation Couche-Tard Inc.
2.70% 07/26/22 (e)(b)		1,631,000		1,576,786
4.50% 07/26/47 (e)(b)		391,000		355,759
Allergan Finance LLC
3.25% 10/01/22 (e)		1,217,000		1,185,431
4.63% 10/01/42 (e)		167,000		153,121
Allergan Funding SCS
3.00% 03/12/20 (e)		2,070,000		2,061,989
3.45% 03/15/22 (e)		927,000		912,390
Allergan Sales LLC
5.00% 12/15/21 (e)(b)		2,662,000		2,740,210
Altria Group Inc.
2.95% 05/02/23 (e)		769,000		731,165
3.88% 09/16/46 (e)		16,000		12,200
4.50% 05/02/43 (e)		425,000		353,672
Amazon.com Inc.
2.80% 08/22/24 (e)		635,000		617,157
3.15% 08/22/27 (e)		600,000		578,838
3.88% 08/22/37 (e)		453,000		440,647
4.05% 08/22/47 (e)		455,000		445,909
4.25% 08/22/57 (e)		556,000		548,622
Ameren Corp.
3.65% 02/15/26 (e)		649,000		638,434
America Movil SAB de C.V.
3.13% 07/16/22 (e)		1,469,000		1,439,796
5.00% 03/30/20 (e)		2,443,000		2,485,557
American Axle & Manufacturing Inc.
6.25% 04/01/25 (e)		1,389,000		1,263,684
American Campus Communities Operating Partnership LP
3.35% 10/01/20 (e)		1,288,000		1,283,440
4.13% 07/01/24 (e)		561,000		562,655
American Express Co.
3.00% 10/30/24		1,615,000		1,545,151
American International Group Inc.
4.50% 07/16/44 (e)		1,148,000		1,020,469
6.40% 12/15/20 (e)		716,000		755,573

See Notes to Schedules of Investments and Notes to Financial Statements.


GE RSP Income Fund			15

GE RSP Income Fund

Schedule of Investments, continued — December 31, 2018


	Principal Amount ($) or Number of Shares		Fair Value $

American International Group Inc. (5.75% fixed rate until 04/01/28; 2.87% + 3 month USD LIBOR thereafter)
5.75% 04/01/48 (h)(e)		655,000		573,184
American Tower Corp. (REIT)
3.38% 10/15/26 (e)		365,000		340,063
3.40% 02/15/19 (e)		3,356,000		3,354,154
American Water Capital Corp.
2.95% 09/01/27 (e)		1,033,000		973,530
Amgen Inc.
2.20% 05/22/19 (e)		2,918,000		2,907,378
2.65% 05/11/22 (e)		1,737,000		1,698,161
3.20% 11/02/27 (e)		800,000		751,960
4.56% 06/15/48 (e)		805,000		772,140
AMN Healthcare Inc.
5.13% 10/01/24 (e)(b)		2,374,000		2,273,912
Anadarko Petroleum Corp.
4.85% 03/15/21 (e)		117,000		119,484
6.20% 03/15/40 (e)		356,000		371,885
Andeavor Logistics LP/Tesoro Logistics Finance Corp.
5.20% 12/01/47 (e)		398,000		357,854
5.25% 01/15/25 (e)		6,756,000		6,747,352
5.50% 10/15/19 (e)		2,646,000		2,670,264
6.25% 10/15/22 (e)		1,810,000		1,845,005
Anheuser-Busch Companies LLC/Anheuser-Busch InBev Worldwide Inc.
4.70% 02/01/36 (b)		477,000		440,109
4.90% 02/01/46 (b)		1,045,000		966,918
Anheuser-Busch InBev Finance Inc.
2.65% 02/01/21 (e)		461,000		453,131
Anheuser-Busch InBev Worldwide Inc.
2.50% 07/15/22 (e)		2,083,000		1,988,244
4.00% 04/13/28 (e)		416,000		397,941
4.38% 04/15/38 (e)		1,737,000		1,554,546
4.60% 04/15/48 (e)		471,000		421,488
4.75% 04/15/58 (e)		490,000		426,124
Anthem Inc.
3.30% 01/15/23 (e)		865,000		851,108
ANZ New Zealand International Ltd.
3.45% 01/21/28 (e)(b)		1,128,000		1,082,214
Apache Corp.
4.38% 10/15/28		441,000		411,638
5.10% 09/01/40 (e)		504,000		455,218
Apple Inc.
2.50% 02/09/22 (e)		837,000		825,131
2.85% 05/11/24 (e)		1,121,000		1,092,751
3.35% 02/09/27 (e)		621,000		606,618
3.45% 02/09/45 (e)		1,339,000		1,186,314
3.85% 08/04/46 (e)		1,587,000		1,492,812
4.25% 02/09/47 (e)		155,000		155,133
4.65% 02/23/46 (e)		206,000		217,804
Applied Materials Inc.
4.35% 04/01/47 (e)		625,000		611,288


	Principal Amount ($) or Number of Shares		Fair Value $
Aptiv PLC
4.40% 10/01/46 (e)		642,000		568,690
Aramark Services Inc.
5.00% 02/01/28 (e)(b)		1,236,000		1,155,944
Archer-Daniels-Midland Co.
2.50% 08/11/26 (e)		750,000		684,563
Arconic Inc.
5.13% 10/01/24 (e)		1,593,000		1,533,963
6.15% 08/15/20 (e)		715,000		729,472
Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc.
4.25% 09/15/22 (e)(b)		1,350,000		1,278,437
Ascension Health
4.85% 11/15/53 (e)		649,000		702,958
Ashland LLC
4.75% 08/15/22		790,000		776,523
AstraZeneca PLC
2.38% 11/16/20 (e)		534,000		525,039
3.38% 11/16/25 (e)		832,000		805,817
3.50% 08/17/23		883,000		874,576
4.00% 01/17/29		588,000		584,049
4.38% 08/17/48		639,000		606,187
AT&T Inc.
3.00% 06/30/22 (e)		794,000		775,015
3.80% 03/15/22 (e)		1,895,000		1,903,016
4.10% 02/15/28		1,359,000		1,306,529
4.45% 04/01/24 (e)		818,000		829,984
4.50% 05/15/35 (e)		1,138,000		1,031,551
4.55% 03/09/49		614,000		528,949
4.75% 05/15/46 (e)		364,000		323,560
4.80% 06/15/44 (e)		766,000		687,094
5.00% 03/01/21		1,372,000		1,418,744
5.15% 11/15/46		198,000		184,358
5.25% 03/01/37 (e)		767,000		752,028
5.45% 03/01/47 (e)		1,332,000		1,298,820
Athene Holding Ltd.
4.13% 01/12/28 (e)		943,000		856,150
Avangrid Inc.
3.15% 12/01/24 (e)		1,705,000		1,644,558
Baidu Inc.
2.88% 07/06/22 (e)		911,000		886,804
Bank of America Corp.
2.65% 04/01/19 (e)		2,328,000		2,325,253
3.25% 10/21/27 (e)		517,000		478,597
3.95% 04/21/25 (e)		1,010,000		978,821
4.25% 10/22/26 (e)		1,743,000		1,695,556
Bank of America Corp. (2.37% fixed rate until 07/21/20; 0.66% + 3 month USD LIBOR thereafter)
2.37% 07/21/21 (h)(e)		1,570,000		1,543,341
Bank of America Corp. (3.12% fixed rate until 01/20/22; 1.16% + 3 month USD LIBOR thereafter)
3.12% 01/20/23 (h)(e)		919,000		903,028

See Notes to Schedules of Investments and Notes to Financial Statements.


16		GE RSP Income Fund

GE RSP Income Fund

Schedule of Investments, continued — December 31, 2018


	Principal Amount ($) or Number of Shares		Fair Value $

Bank of America Corp. (3.37% fixed rate until 01/23/25; 0.81% + 3 month USD LIBOR thereafter)
3.37% 01/23/26 (h)(e)		1,942,000		1,856,338
Bank of America Corp. (3.42% fixed rate until 12/20/27; 1.04% + 3 month USD LIBOR thereafter)
3.42% 12/20/28 (h)(e)		1,281,000		1,192,970
Bank of America Corp. (3.95% fixed rate until 01/23/48; 1.19% + 3 month USD LIBOR thereafter)
3.95% 01/23/49 (h)(e)		1,180,000		1,050,353
Bank of America Corp. (4.24% fixed rate until 04/24/37; 1.81% + 3 month USD LIBOR thereafter)
4.24% 04/24/38 (h)(e)		1,339,000		1,269,506
Bank of America Corp. (4.27% fixed rate until 07/23/28; 1.31% + 3 month USD LIBOR thereafter)
4.27% 07/23/29 (h)(e)		534,000		531,223
Bank of America Corp. (4.44% fixed rate until 01/20/47; 1.99% + 3 month USD LIBOR thereafter)
4.44% 01/20/48 (h)(e)		255,000		246,310
Bank of Montreal (4.34% fixed rate until 10/05/23; 1.28% + USD 5 year Swap Rate thereafter)
4.34% 10/05/28 (h)		2,053,000		2,043,905
Barclays PLC
4.38% 01/12/26 (e)		911,000		870,160
4.84% 05/09/28 (e)		478,000		437,924
Barclays PLC (4.97% fixed rate until 05/16/28; 1.90% + 3 month USD LIBOR thereafter)
4.97% 05/16/29 (h)(e)		709,000		682,015
Barrick North America Finance LLC
5.70% 05/30/41 (e)		180,000		190,019
BAT Capital Corp.
2.30% 08/14/20		3,768,000		3,679,301
2.76% 08/15/22		1,160,000		1,095,028
3.56% 08/15/27		2,072,000		1,836,496
4.39% 08/15/37		394,000		323,789
4.54% 08/15/47		542,000		433,725
Bausch Health Companies Inc.
7.00% 03/15/24 (e)(b)		3,583,000		3,629,292
Baxalta Inc.
2.88% 06/23/20 (e)		404,000		399,596
Bayer US Finance II LLC
3.50% 06/25/21 (e)(b)		3,724,000		3,702,587
3.88% 12/15/23 (e)(b)		1,139,000		1,117,894
4.70% 07/15/64 (e)(b)		268,000		222,721
Becton Dickinson and Co.
2.89% 06/06/22 (e)		1,241,000		1,201,437
3.70% 06/06/27 (e)		1,286,000		1,217,996
3.73% 12/15/24 (e)		60,000		58,015
4.67% 06/06/47 (e)		116,000		109,155
4.69% 12/15/44 (e)		174,000		163,741
Berkshire Hathaway Energy Co.
2.40% 02/01/20 (e)		1,791,000		1,779,054
3.25% 04/15/28 (e)		637,000		606,322


	Principal Amount ($) or Number of Shares		Fair Value $
3.80% 07/15/48 (e)		482,000		431,082
6.13% 04/01/36 (e)		490,000		584,418
Berkshire Hathaway Inc.
4.50% 02/11/43 (e)		271,000		281,450
Berry Global Inc.
5.13% 07/15/23 (e)		2,045,000		2,024,979
BHP Billiton Finance USA Ltd.
5.00% 09/30/43 (e)		284,000		310,250
Biogen Inc.
2.90% 09/15/20 (e)		516,000		512,703
BNP Paribas S.A.
5.00% 01/15/21 (e)		675,000		697,214
BNP Paribas S.A. (5.13% fixed rate until 11/15/27; 2.84% + USD 5 year Swap Rate thereafter)
5.13% 12/31/99 (h)(e)(b)		600,000		519,960
Boston Scientific Corp.
4.00% 03/01/28 (e)		1,006,000		978,868
BP Capital Markets America Inc.
3.02% 01/16/27		3,166,000		2,971,924
3.22% 11/28/23		788,000		777,543
Brighthouse Financial Inc.
3.70% 06/22/27 (e)		120,000		101,377
4.70% 06/22/47 (e)		71,000		52,748
Brixmor Operating Partnership LP
3.90% 03/15/27 (e)		395,000		374,413
Broadcom Corp./Broadcom Cayman Finance Ltd.
2.20% 01/15/21 (e)		650,000		635,226
2.65% 01/15/23 (e)		309,000		286,384
3.13% 01/15/25 (e)		360,000		323,057
3.88% 01/15/27 (e)		135,000		121,046
Brown-Forman Corp.
4.00% 04/15/38 (e)		273,000		267,049
Buckeye Partners LP
5.60% 10/15/44 (e)		179,000		154,194
Bunge Limited Finance Corp.
3.75% 09/25/27 (e)		462,000		410,736
Burlington Northern Santa Fe LLC
3.75% 04/01/24		1,983,000		2,033,348
4.15% 12/15/48 (e)		971,000		947,725
C&W Senior Financing DAC
7.50% 10/15/26 (b)		500,000		483,120
Campbell Soup Co.
3.30% 03/15/21 (e)		2,085,000		2,073,366
Canadian Natural Resources Ltd.
3.85% 06/01/27 (e)		277,000		262,072
4.95% 06/01/47 (e)		234,000		225,152
Capital One Financial Corp.
3.75% 07/28/26 (e)		438,000		400,332
4.20% 10/29/25 (e)		551,000		529,687
Cardinal Health Inc.
2.62% 06/15/22 (e)		616,000		594,138
3.08% 06/15/24 (e)		479,000		452,463

See Notes to Schedules of Investments and Notes to Financial Statements.


GE RSP Income Fund			17

GE RSP Income Fund

Schedule of Investments, continued — December 31, 2018


	Principal Amount ($) or Number of Shares		Fair Value $

Caterpillar Financial Services Corp.
2.55% 11/29/22 (e)		1,510,000		1,466,104
Caterpillar Inc.
3.80% 08/15/42 (e)		351,000		327,013
Catholic Health Initiatives
4.35% 11/01/42 (e)		1,029,000		912,919
CBL & Associates LP
4.60% 10/15/24 (e)		2,771,000		2,042,116
CBS Corp.
2.50% 02/15/23 (e)		925,000		870,749
2.90% 01/15/27 (e)		480,000		424,334
CCO Holdings LLC/CCO Holdings Capital Corp.
5.00% 02/01/28 (e)(b)		2,374,000		2,183,866
Celgene Corp.
3.45% 11/15/27 (e)		75,000		68,278
4.35% 11/15/47 (e)		103,000		87,221
4.55% 02/20/48 (e)		951,000		826,505
5.00% 08/15/45 (e)		255,000		235,434
Cenovus Energy Inc.
4.25% 04/15/27 (e)		517,000		470,775
4.45% 09/15/42 (e)		287,000		220,295
5.40% 06/15/47 (e)		163,000		140,478
CenterPoint Energy Inc.
2.50% 09/01/22 (e)		2,469,000		2,359,648
3.60% 11/01/21		1,097,000		1,096,210
CenturyLink Inc.
5.63% 04/01/25		790,000		696,085
5.80% 03/15/22 (e)		1,127,000		1,082,360
CF Industries Inc.
7.13% 05/01/20 (e)		1,426,000		1,467,226
Charter Communications Operating LLC/Charter Communications Operating Capital
3.58% 07/23/20 (e)		970,000		968,778
4.91% 07/23/25 (e)		379,000		376,199
5.38% 05/01/47 (e)		582,000		523,381
5.75% 04/01/48 (e)		405,000		378,922
6.38% 10/23/35 (e)		155,000		158,754
6.48% 10/23/45 (e)		335,000		340,333
Chevron Corp.
2.42% 11/17/20 (e)		716,000		709,449
3.19% 06/24/23 (e)		726,000		724,780
Church & Dwight Company Inc.
2.45% 08/01/22 (e)		583,000		562,892
Cigna Corp.
4.13% 11/15/25 (b)		1,469,000		1,465,871
4.38% 10/15/28 (b)		588,000		590,781
4.80% 08/15/38 (b)		441,000		433,798
4.90% 12/15/48 (b)		478,000		467,408
Cigna Corp.
3.20% 09/17/20 (b)		1,895,000		1,887,799
3.40% 09/17/21 (b)		948,000		946,066
3.75% 07/15/23 (b)		881,000		878,842


	Principal Amount ($) or Number of Shares		Fair Value $
Cigna Holding Co.
3.25% 04/15/25 (e)		744,000		707,894
3.88% 10/15/47 (e)		589,000		493,770
Cimarex Energy Co.
3.90% 05/15/27 (e)		146,000		136,068
Cinemark USA Inc.
4.88% 06/01/23 (e)		1,452,000		1,393,920
Cisco Systems Inc.
5.90% 02/15/39 (e)		576,000		711,734
Citibank NA
2.85% 02/12/21 (e)		2,278,000		2,258,068
3.05% 05/01/20		2,362,000		2,356,945
Citigroup Inc.
2.70% 10/27/22 (e)		1,102,000		1,062,008
2.75% 04/25/22		3,658,000		3,551,991
2.90% 12/08/21 (e)		1,570,000		1,541,834
4.40% 06/10/25 (e)		1,009,000		991,322
4.45% 09/29/27 (e)		1,354,000		1,305,148
4.65% 07/30/45 - 07/23/48 (e)		1,733,000		1,693,590
4.75% 05/18/46 (e)		603,000		559,132
Citigroup Inc. (2.88% fixed rate until 07/24/22; 0.95% + 3 month USD LIBOR thereafter)
2.88% 07/24/23 (h)(e)		357,000		345,137
Citigroup Inc. (3.88% fixed rate until 01/24/38; 1.17% + 3 month USD LIBOR thereafter)
3.88% 01/24/39 (h)(e)		444,000		396,994
Citigroup Inc. (4.28% fixed rate until 04/24/47; 1.84% + 3 month USD LIBOR thereafter)
4.28% 04/24/48 (h)(e)		481,000		448,754
CME Group Inc.
3.75% 06/15/28 (e)		640,000		648,275
CMS Energy Corp.
4.88% 03/01/44 (e)		1,517,000		1,595,884
CNA Financial Corp.
3.45% 08/15/27 (e)		507,000		471,566
5.88% 08/15/20 (e)		2,390,000		2,478,526
CNH Industrial Capital LLC
3.38% 07/15/19 (e)		1,072,000		1,069,106
4.38% 11/06/20 (e)		847,000		851,692
4.88% 04/01/21 (e)		1,054,000		1,062,717
CNH Industrial N.V.
4.50% 08/15/23 (e)		1,491,000		1,500,826
CNOOC Nexen Finance 2014 ULC
4.25% 04/30/24		2,095,000		2,130,175
Columbia Pipeline Group Inc.
3.30% 06/01/20 (e)		883,000		880,166
Comcast Corp.
3.38% 08/15/25 (e)		415,000		404,376
3.97% 11/01/47 (e)		2,150,000		1,930,464
4.15% 10/15/28		2,496,000		2,533,490
4.20% 08/15/34 (e)		732,000		706,805
4.25% 10/15/30		891,000		900,658

See Notes to Schedules of Investments and Notes to Financial Statements.


18		GE RSP Income Fund

GE RSP Income Fund

Schedule of Investments, continued — December 31, 2018


	Principal Amount ($) or Number of Shares		Fair Value $

4.60% 08/15/45 (e)		523,000		516,232
4.70% 10/15/48		535,000		541,361
Commonwealth Bank of Australia
4.32% 01/10/48 (e)(b)		301,000		262,340
Conagra Brands Inc.
3.80% 10/22/21		2,010,000		2,010,040
4.30% 05/01/24		2,103,000		2,092,149
5.30% 11/01/38		503,000		476,396
5.40% 11/01/48		839,000		773,659
Conagra Brands Inc. 0.75% + 3 month USD LIBOR
3.22% 10/22/20 (h)		1,435,000		1,427,638
Concho Resources Inc.
3.75% 10/01/27 (e)		253,000		238,458
4.30% 08/15/28 (e)		1,226,000		1,199,445
4.88% 10/01/47 (e)		368,000		351,146
ConocoPhillips Co.
4.30% 11/15/44		954,000		940,911
Consolidated Edison Company of New York Inc.
2.90% 12/01/26 (e)		1,365,000		1,282,445
3.88% 06/15/47 (e)		569,000		521,517
Constellation Brands Inc.
2.70% 05/09/22 (e)		1,240,000		1,197,356
4.50% 05/09/47 (e)		243,000		217,721
Continental Resources Inc.
4.50% 04/15/23 (e)		830,000		814,770
Corning Inc.
4.38% 11/15/57 (e)		536,000		449,843
Corporation Andina de Fomento
2.20% 07/18/20		1,710,000		1,683,991
4.38% 06/15/22		4,065,000		4,213,698
Crane Co.
4.20% 03/15/48 (e)		383,000		354,631
Credit Suisse Group AG
4.28% 01/09/28 (e)(b)		846,000		815,493
Credit Suisse Group Funding Guernsey Ltd.
3.13% 12/10/20 (e)		1,407,000		1,394,450
3.80% 06/09/23 (e)		937,000		920,275
CRH America Finance Inc.
3.40% 05/09/27 (e)(b)		739,000		677,286
CSX Corp.
4.50% 08/01/54 (e)		623,000		589,900
CVS Health Corp.
2.25% 08/12/19 (e)		1,864,000		1,853,916
3.13% 03/09/20 (e)		5,590,000		5,579,044
3.35% 03/09/21 (e)		3,654,000		3,642,965
3.70% 03/09/23 (e)		1,128,000		1,116,923
3.88% 07/20/25 (e)		502,000		489,555
4.10% 03/25/25 (e)		1,300,000		1,286,727
4.30% 03/25/28 (e)		476,000		465,842
4.78% 03/25/38 (e)		624,000		599,733
5.00% 12/01/24 (e)		1,227,000		1,277,687
5.05% 03/25/48 (e)		693,000		676,112


	Principal Amount ($) or Number of Shares		Fair Value $
5.13% 07/20/45 (e)		255,000		248,653
D.R. Horton Inc.
2.55% 12/01/20 (e)		1,751,000		1,706,350
Dana Financing Luxembourg Sarl
6.50% 06/01/26 (e)(b)		1,945,000		1,867,978
Dell International LLC/EMC Corp.
3.48% 06/01/19 (b)(e)		2,931,000		2,924,024
5.45% 06/15/23 (b)(e)		799,000		814,189
6.02% 06/15/26 (b)(e)		392,000		393,858
8.10% 07/15/36 (b)(e)		133,000		143,883
8.35% 07/15/46 (b)(e)		307,000		332,595
Deutsche Bank AG
2.70% 07/13/20 (e)		1,407,000		1,364,635
3.30% 11/16/22 (e)		1,183,000		1,096,333
3.70% 05/30/24 (e)		485,000		440,123
Deutsche Bank AG (4.88% fixed rate until 12/01/27; 2.55% + USD 5 yearMid-Market Swap Rate thereafter)
4.88% 12/01/32 (h)(e)		2,096,000		1,642,321
Deutsche Telekom International Finance BV
2.49% 09/19/23 (e)(b)		758,000		715,643
Devon Energy Corp.
4.00% 07/15/21 (e)		2,282,000		2,286,998
5.00% 06/15/45 (e)		365,000		322,817
Dexia Credit Local S.A.
2.25% 01/30/19 (b)		6,894,000		6,892,070
Diageo Investment Corp.
2.88% 05/11/22 (e)		1,323,000		1,307,958
Diamondback Energy Inc.
4.75% 11/01/24 (b)		1,970,000		1,901,621
Discover Bank
3.10% 06/04/20 (e)		2,108,000		2,093,118
Discovery Communications LLC
2.20% 09/20/19 (e)		1,609,000		1,594,664
3.95% 03/20/28 (e)		919,000		851,775
5.00% 09/20/37 (e)		366,000		338,052
5.20% 09/20/47 (e)		201,000		185,129
DISH DBS Corp.
5.88% 07/15/22 (e)		1,188,000		1,088,160
Dollar Tree Inc.
3.70% 05/15/23 (e)		1,128,000		1,105,496
4.00% 05/15/25 (e)		1,063,000		1,021,692
Dominion Energy Inc.
2.58% 07/01/20 (e)		1,098,000		1,081,486
DowDuPont Inc.
3.77% 11/15/20		3,657,000		3,690,754
5.32% 11/15/38		794,000		818,765
5.42% 11/15/48		794,000		826,880
DTE Energy Co.
2.85% 10/01/26 (e)		611,000		562,303
3.85% 12/01/23 (e)		666,000		669,397
Duke Energy Carolinas LLC
3.95% 03/15/48 (e)		641,000		613,193

See Notes to Schedules of Investments and Notes to Financial Statements.


GE RSP Income Fund			19

GE RSP Income Fund

Schedule of Investments, continued — December 31, 2018


	Principal Amount ($) or Number of Shares		Fair Value $

Duke Energy Corp.
1.80% 09/01/21		1,553,000		1,484,093
3.55% 09/15/21		942,000		944,543
3.75% 09/01/46 (e)		441,000		383,339
Duke Energy Progress LLC
4.15% 12/01/44 (e)		613,000		597,939
Duke Realty LP
3.25% 06/30/26 (e)		713,000		677,414
3.38% 12/15/27 (e)		519,000		492,578
Duquesne Light Holdings Inc.
3.62% 08/01/27 (e)(b)		1,453,000		1,367,505
Eastman Chemical Co.
3.50% 12/01/21		1,140,000		1,145,426
3.60% 08/15/22 (e)		445,000		444,617
4.50% 01/15/21		2,022,000		2,050,793
Eaton Corp.
3.10% 09/15/27 (e)		791,000		746,301
Ecolab Inc.
3.25% 12/01/27 (e)		463,000		444,962
3.95% 12/01/47 (e)		411,000		385,945
Ecopetrol S.A.
5.88% 05/28/45		905,000		854,094
Edison International
4.13% 03/15/28 (e)		839,000		795,573
EI du Pont de Nemours & Co. 0.53% + 3 month USD LIBOR
3.07% 05/01/20 (h)(e)		1,509,000		1,510,418
Electricite de France S.A.
2.15% 01/22/19 (b)		3,444,000		3,441,624
5.00% 09/21/48 (b)		500,000		443,715
Eli Lilly & Co.
3.70% 03/01/45 (e)		157,000		147,739
EMC Corp.
2.65% 06/01/20 (e)		3,569,000		3,427,382
Emera US Finance LP
4.75% 06/15/46 (e)		223,000		214,383
Enbridge Energy Partners LP
5.50% 09/15/40 (e)		146,000		150,005
Encana Corp.
3.90% 11/15/21 (e)		1,379,000		1,378,628
Endo Dac/Endo Finance LLC/Endo Finco Inc.
5.88% 10/15/24 (e)(b)		1,075,000		1,012,435
Enel Finance International N.V.
3.63% 05/25/27 (e)(b)		1,011,000		888,234
Energy Transfer LP
4.25% 03/15/23		910,000		877,586
5.88% 01/15/24 (e)		8,695,000		8,860,901
7.50% 10/15/20		1,590,000		1,661,550
Energy Transfer Operating LP
4.95% 06/15/28 (e)		422,000		413,961
Energy Transfer Operating LP
5.80% 06/15/38 (e)		658,000		637,003
6.13% 12/15/45 (e)		289,000		280,212


	Principal Amount ($) or Number of Shares		Fair Value $
6.50% 02/01/42 (e)		842,000		849,081
Energy Transfer Partners LP/Regency Energy Finance Corp.
4.50% 11/01/23 (e)		631,000		629,441
EnLink Midstream Partners LP
4.15% 06/01/25 (e)		1,584,000		1,425,648
Entergy Louisiana LLC
3.05% 06/01/31 (e)		791,000		713,703
4.00% 03/15/33 (e)		434,000		437,298
Enterprise Products Operating LLC
4.25% 02/15/48 (e)		1,581,000		1,414,505
Enterprise Products Operating LLC (5.25% fixed rate until 08/16/27; 3.03% + 3 month USD LIBOR thereafter)
5.25% 08/16/77 (h)(e)		482,000		401,728
EOG Resources Inc.
4.10% 02/01/21 (e)		1,825,000		1,849,473
4.15% 01/15/26 (e)		1,330,000		1,356,507
EPR Properties
4.95% 04/15/28 (e)		720,000		712,793
EQM Midstream Partners LP
4.75% 07/15/23 (e)		294,000		292,457
5.50% 07/15/28 (e)		294,000		288,764
EQT Corp.
3.90% 10/01/27 (e)		503,000		434,974
ERP Operating LP
4.50% 07/01/44 (e)		356,000		358,232
Exelon Corp.
3.50% 06/01/22 (e)		958,000		936,148
4.45% 04/15/46 (e)		1,032,000		982,897
Express Scripts Holding Co.
3.40% 03/01/27 (e)		789,000		732,066
Exxon Mobil Corp.
2.22% 03/01/21 (e)		876,000		864,901
FedEx Corp.
4.10% 02/01/45 (e)		1,313,000		1,127,985
FirstEnergy Corp.
3.90% 07/15/27 (e)		375,000		363,255
4.85% 07/15/47 (e)		503,000		501,164
Florida Power & Light Co.
4.13% 02/01/42 (e)		608,000		611,745
Ford Motor Co.
4.35% 12/08/26 (e)		828,000		738,949
Ford Motor Credit Company LLC
3.10% 05/04/23		1,844,000		1,669,613
3.22% 01/09/22 (e)		354,000		332,066
3.34% 03/18/21		849,000		821,713
3.34% 03/28/22 (e)		1,106,000		1,043,810
3.81% 01/09/24		945,000		866,045
Frontier Communications Corp.
7.13% 03/15/19 (e)		1,745,000		1,689,003
General Dynamics Corp.
2.13% 08/15/26 (e)		1,224,000		1,104,427
2.88% 05/11/20 (e)		1,925,000		1,926,328

See Notes to Schedules of Investments and Notes to Financial Statements.


20		GE RSP Income Fund

GE RSP Income Fund

Schedule of Investments, continued — December 31, 2018


	Principal Amount ($) or Number of Shares		Fair Value $

3.00% 05/11/21 (e)		2,696,000		2,698,723
3.50% 05/15/25 (e)		1,171,000		1,172,932
General Mills Inc.
3.20% 04/16/21 (e)		1,825,000		1,814,853
3.70% 10/17/23 (e)		1,063,000		1,058,078
4.55% 04/17/38 (e)		478,000		437,499
4.70% 04/17/48 (e)		432,000		393,185
General Motors Co.
5.20% 04/01/45 (e)		157,000		130,181
5.40% 04/01/48		397,000		348,173
General Motors Financial Company Inc.
2.35% 10/04/19 (e)		1,934,000		1,912,784
3.15% 01/15/20 (e)		1,797,000		1,785,517
3.20% 07/13/20 (e)		1,009,000		998,648
3.45% 01/14/22		2,283,000		2,209,419
3.55% 04/09/21 (e)		2,606,000		2,573,633
5.25% 03/01/26 (e)		794,000		779,335
Georgia-Pacific LLC
3.60% 03/01/25 (e)(b)		418,000		417,904
Gilead Sciences Inc.
2.55% 09/01/20 (e)		675,000		669,452
2.95% 03/01/27 (e)		214,000		198,941
3.50% 02/01/25 (e)		567,000		553,880
3.65% 03/01/26 (e)		568,000		557,475
4.15% 03/01/47 (e)		851,000		781,371
4.80% 04/01/44 (e)		359,000		358,429
GlaxoSmithKline Capital Inc.
3.38% 05/15/23 (e)		1,242,000		1,248,210
3.63% 05/15/25 (e)		1,171,000		1,177,686
GlaxoSmithKline Capital PLC
3.13% 05/14/21 (e)		1,348,000		1,349,752
Glencore Finance Canada Ltd.
4.95% 11/15/21 (e)(b)		773,000		792,402
Glencore Funding LLC
2.50% 01/15/19 (e)(b)		3,663,000		3,661,864
Gray Escrow Inc.
7.00% 05/15/27 (b)		792,000		771,060
Grupo Televisa SAB
5.00% 05/13/45 (e)		382,000		333,902
H&E Equipment Services Inc.
5.63% 09/01/25 (e)		2,965,000		2,716,889
Halliburton Co.
3.80% 11/15/25 (e)		733,000		710,753
5.00% 11/15/45 (e)		477,000		468,085
HCA Inc.
4.75% 05/01/23 (e)		4,352,000		4,285,937
5.88% 02/15/26		808,000		810,860
HD Supply Inc.
5.38% 10/15/26 (b)		790,000		766,300
Hess Corp.
5.60% 02/15/41 (e)		233,000		205,077
5.80% 04/01/47 (e)		146,000		131,223


	Principal Amount ($) or Number of Shares		Fair Value $
Hewlett Packard Enterprise Co.
6.35% 10/15/45 (e)		257,000		240,498
Highwoods Realty LP
4.13% 03/15/28 (e)		651,000		638,794
Hilcorp Energy I LP/Hilcorp Finance Co.
5.75% 10/01/25 (b)		2,392,000		2,131,439
6.25% 11/01/28 (b)		640,000		562,720
HSBC Holdings PLC
4.25% 03/14/24 (e)		625,000		623,956
HSBC Holdings PLC (3.95% fixed rate until 05/18/23; 0.99% + 3 month USD LIBOR thereafter)
3.95% 05/18/24 (h)(e)		953,000		947,463
HSBC Holdings PLC (4.29% fixed rate until 09/12/25; 1.35% + 3 month USD LIBOR thereafter)
4.29% 09/12/26 (h)		1,513,000		1,486,538
HSBC Holdings PLC (4.58% fixed rate until 06/19/28; 1.53% + 3 month USD LIBOR thereafter)
4.58% 06/19/29 (h)(e)		433,000		429,281
HSBC Holdings PLC (6.00% fixed rate until 05/22/27; 3.75% + USD 5 yearMid-Market Swap Rate thereafter)
6.00% 12/31/99 (h)(e)		1,018,000		928,477
HSBC Holdings PLC (6.50% fixed rate until 03/23/28; 3.61% + USD 5 yearMid-Market Swap Rate thereafter)
6.50% 12/31/99 (h)(e)		1,302,000		1,193,023
Hughes Satellite Systems Corp.
6.63% 08/01/26		790,000		725,757
Hyundai Capital America
3.10% 04/05/22 (e)(b)		762,000		744,482
Icahn Enterprises LP/Icahn Enterprises Finance Corp.
6.00% 08/01/20 (e)		2,142,000		2,138,637
ING Bank N.V.
2.70% 08/17/20 (e)(b)		1,400,000		1,384,740
Ingersoll-Rand Luxembourg Finance S.A.
3.55% 11/01/24 (e)		958,000		948,880
Intel Corp.
2.60% 05/19/26 (e)		1,329,000		1,247,825
2.88% 05/11/24 (e)		748,000		729,524
International Business Machines Corp.
3.30% 01/27/27 (e)		835,000		802,602
International Paper Co.
4.40% 08/15/47 (e)		793,000		671,980
Interstate Power & Light Co.
3.40% 08/15/25 (e)		2,782,000		2,695,925
Intesa Sanpaolo S.p.A.
3.88% 07/14/27 (e)		698,000		598,514
j2 Cloud Services LLC/j2 GlobalCo-Obligor Inc.
6.00% 07/15/25 (e)(b)		1,274,000		1,247,985
Jabil Inc.
3.95% 01/12/28 (e)		999,000		886,892
JBS USA LUX S.A./JBS USA Finance Inc.
6.75% 02/15/28 (e)(b)		1,582,000		1,545,408

See Notes to Schedules of Investments and Notes to Financial Statements.


GE RSP Income Fund			21

GE RSP Income Fund

Schedule of Investments, continued — December 31, 2018


	Principal Amount ($) or Number of Shares		Fair Value $

Jefferies Group LLC
5.13% 01/20/23 (e)		685,000		703,303
6.50% 01/20/43 (e)		580,000		567,356
Johnson & Johnson
3.63% 03/03/37 (e)		551,000		529,660
Johnson Controls International PLC
4.50% 02/15/47 (e)		339,000		312,307
JPMorgan Chase & Co.
2.30% 08/15/21 (e)		1,407,000		1,370,221
2.55% 10/29/20 (e)		1,589,000		1,570,488
3.13% 01/23/25		1,348,000		1,284,994
3.30% 04/01/26 (e)		732,000		696,535
3.63% 12/01/27 (e)		517,000		482,196
JPMorgan Chase & Co. (3.51% fixed rate until 01/23/28; 0.95% + 3 month USD LIBOR thereafter)
3.51% 01/23/29 (h)(e)		606,000		571,143
JPMorgan Chase & Co. (3.88% fixed rate until 07/24/37; 1.36% + 3 month USD LIBOR thereafter)
3.88% 07/24/38 (h)(e)		1,526,000		1,381,289
JPMorgan Chase & Co. (3.90% fixed rate until 01/23/48; 1.22% + 3 month USD LIBOR thereafter)
3.90% 01/23/49 (h)(e)		330,000		289,813
JPMorgan Chase & Co. (4.01% fixed rate until 04/23/28; 1.12% + 3 month USD LIBOR thereafter)
4.01% 04/23/29 (h)(e)		770,000		755,432
JPMorgan Chase & Co. (4.03% fixed rate until 07/24/47; 1.46% + 3 month USD LIBOR thereafter)
4.03% 07/24/48 (h)(e)		616,000		552,293
JPMorgan Chase & Co. (4.63% fixed rate until 11/01/22; 2.58% + 3 month USD LIBOR thereafter)
4.63% 12/31/99 (h)(e)		951,000		813,999
JPMorgan Chase & Co. (6.10% fixed rate until 10/01/24; 3.33% + 3 month USD LIBOR thereafter)
6.10% 10/29/49 (h)(e)		2,079,000		2,063,657
JPMorgan Chase & Co. 3.47% + 3 month USD LIBOR
5.99% 12/29/49 (h)(e)		924,000		912,496
Keurig Dr Pepper Inc.
3.55% 05/25/21 (e)(b)		5,772,000		5,764,150
4.06% 05/25/23 (e)(b)		1,240,000		1,236,268
4.50% 11/15/45		478,000		419,966
4.60% 05/25/28 (e)(b)		1,170,000		1,166,034
Kimberly-Clark Corp.
3.95% 11/01/28		1,983,000		2,039,476
Kinder Morgan Energy Partners LP
3.50% 03/01/21 (e)		2,693,000		2,683,978
4.70% 11/01/42		199,000		176,417
5.30% 09/15/20 (e)		921,000		946,687
6.38% 03/01/41 (e)		340,000		362,267
Kinder Morgan Inc.
3.05% 12/01/19 (e)		537,000		533,859
4.30% 03/01/28 (e)		672,000		658,311
5.05% 02/15/46 (e)		340,000		316,115


	Principal Amount ($) or Number of Shares		Fair Value $
5.55% 06/01/45 (e)		398,000		396,515
Kraft Heinz Foods Co.
4.38% 06/01/46 (e)		661,000		546,911
Kreditanstalt fuer Wiederaufbau
2.00% 10/04/22		1,948,000		1,903,332
L Brands Inc.
5.25% 02/01/28 (e)		2,372,000		2,027,443
L3 Technologies Inc.
3.85% 12/15/26		1,010,000		976,832
Lamb Weston Holdings Inc.
4.63% 11/01/24 (e)(b)		2,391,000		2,330,484
Lee Enterprises Inc.
9.50% 03/15/22 (e)(b)		1,525,000		1,553,167
Lennar Corp.
4.75% 05/30/25 - 11/29/27 (e)		3,676,000		3,383,910
Lincoln National Corp.
3.63% 12/12/26 (e)		471,000		453,992
3.80% 03/01/28 (e)		676,000		651,231
4.35% 03/01/48 (e)		595,000		540,855
Lloyds Banking Group PLC
3.75% 01/11/27 (e)		574,000		525,486
Lloyds Banking Group PLC (2.91% fixed rate until 11/07/22; 0.81% + 3 month USD LIBOR thereafter)
2.91% 11/07/23 (h)(e)		982,000		928,589
Lockheed Martin Corp.
3.55% 01/15/26 (e)		726,000		719,531
3.80% 03/01/45 (e)		308,000		282,097
Lowe’s Companies Inc.
3.70% 04/15/46 (e)		403,000		329,070
LYB International Finance BV
4.88% 03/15/44 (e)		257,000		233,824
LYB International Finance II BV
3.50% 03/02/27 (e)		288,000		262,941
Macy’s Retail Holdings Inc.
4.30% 02/15/43 (e)		203,000		149,909
Marathon Oil Corp.
2.70% 06/01/20 (e)		2,105,000		2,070,520
3.85% 06/01/25 (e)		394,000		369,414
Marsh & McLennan Companies Inc.
3.50% 03/10/25 (e)		806,000		788,123
Masco Corp.
3.50% 11/15/27 (e)		372,000		342,489
McDonald’s Corp.
3.70% 01/30/26 (e)		379,000		372,307
3.80% 04/01/28		1,030,000		1,009,688
4.88% 12/09/45 (e)		330,000		332,620
McKesson Corp.
3.65% 11/30/20		4,572,000		4,590,699
Medtronic Inc.
2.50% 03/15/20 (e)		2,028,000		2,019,259
4.63% 03/15/45 (e)		855,000		898,998

See Notes to Schedules of Investments and Notes to Financial Statements.


22		GE RSP Income Fund

GE RSP Income Fund

Schedule of Investments, continued — December 31, 2018


	Principal Amount ($) or Number of Shares		Fair Value $

Memorial Sloan-Kettering Cancer Center
4.13% 07/01/52 (e)		884,000		877,034
Merck & Company Inc.
2.75% 02/10/25 (e)		1,463,000		1,415,657
MetLife Inc.
4.05% 03/01/45 (e)		210,000		193,956
4.72% 12/15/44 (e)		603,000		615,386
MGM Resorts International
4.63% 09/01/26 (e)		1,303,000		1,171,058
Microsoft Corp.
2.40% 08/08/26 (e)		913,000		851,646
3.45% 08/08/36 (e)		474,000		450,054
3.50% 02/12/35		625,000		600,181
3.70% 08/08/46 (e)		1,959,000		1,880,797
4.00% 02/12/55 (e)		792,000		779,922
4.10% 02/06/37 (e)		242,000		248,619
4.50% 02/06/57 (e)		283,000		304,635
Mizuho Financial Group Inc.
2.63% 04/12/21 (e)(b)		3,788,000		3,720,195
Mizuho Financial Group Inc. (3.92% fixed rate until 09/11/23; 1.00% + 3 month USD LIBOR thereafter)
3.92% 09/11/24 (h)		1,513,000		1,529,371
Molina Healthcare Inc.
4.88% 06/15/25 (e)(b)		1,807,000		1,650,405
Molson Coors Brewing Co.
2.10% 07/15/21 (e)		1,168,000		1,125,275
4.20% 07/15/46 (e)		357,000		296,667
Morgan Stanley
2.45% 02/01/19 (e)		4,972,000		4,969,116
2.63% 11/17/21 (e)		1,619,000		1,578,930
2.65% 01/27/20 (e)		1,510,000		1,499,385
2.75% 05/19/22 (e)		3,678,000		3,574,869
3.63% 01/20/27 (e)		862,000		819,581
3.70% 10/23/24 (e)		785,000		772,746
3.95% 04/23/27 (e)		2,075,000		1,954,028
4.10% 05/22/23 (e)		1,902,000		1,906,299
4.38% 01/22/47 (e)		786,000		744,460
Morgan Stanley (3.97% fixed rate until 07/22/37; 1.46% + 3 month USD LIBOR thereafter)
3.97% 07/22/38 (h)(e)		509,000		464,127
MPLX LP
3.38% 03/15/23 (e)		615,000		597,350
4.50% 04/15/38 (e)		582,000		511,118
4.70% 04/15/48 (e)		523,000		451,673
5.50% 02/15/49		991,000		960,467
MUFG Bank Ltd.
2.30% 03/10/19 (e)(b)		3,669,000		3,663,900
MUFG Bank Ltd.
2.30% 03/05/20 (e)(b)		1,948,000		1,927,585
Murphy Oil Corp.
5.75% 08/15/25 (e)		5,261,000		4,933,029
Mylan Inc.
4.55% 04/15/28 (e)(b)		278,000		259,171
5.20% 04/15/48 (e)(b)		491,000		417,978
Mylan N.V.
3.15% 06/15/21 (e)		711,000		696,880
3.95% 06/15/26 (e)		411,000		370,882


	Principal Amount ($) or Number of Shares		Fair Value $
National Retail Properties Inc.
4.00% 11/15/25 (e)		862,000		853,992
Navient Corp.
6.75% 06/15/26 (e)		1,455,000		1,207,766
8.00% 03/25/20 (e)		1,270,000		1,291,641
Newell Brands Inc.
3.85% 04/01/23 (e)		315,000		310,892
4.20% 04/01/26 (e)		285,000		277,080
Newfield Exploration Co.
5.38% 01/01/26 (e)		2,373,000		2,348,843
5.75% 01/30/22		2,383,000		2,418,745
Newmark Group Inc.
6.13% 11/15/23 (b)		600,000		576,240
Newmont Mining Corp.
4.88% 03/15/42 (e)		637,000		602,271
Nexen Energy ULC
6.40% 05/15/37		540,000		661,176
NGPL PipeCo LLC
4.88% 08/15/27 (e)(b)		2,206,000		2,093,009
Noble Energy Inc.
3.90% 11/15/24 (e)		578,000		557,591
5.05% 11/15/44 (e)		210,000		182,864
Nordstrom Inc.
5.00% 01/15/44 (e)		46,000		39,542
Norfolk Southern Corp.
3.95% 10/01/42		694,000		635,413
Northern States Power Co.
2.20% 08/15/20 (e)		2,941,000		2,900,591
Northrop Grumman Corp.
2.08% 10/15/20 (e)		614,000		602,432
2.55% 10/15/22 (e)		560,000		542,354
3.25% 01/15/28 (e)		691,000		645,608
3.85% 04/15/45 (e)		173,000		152,669
4.03% 10/15/47 (e)		588,000		534,298
Novartis Capital Corp.
3.00% 11/20/25 (e)		123,000		119,225
Nucor Corp.
3.95% 05/01/28 (e)		1,120,000		1,108,587
4.13% 09/15/22 (e)		634,000		652,678
Nutrien Ltd.
4.00% 12/15/26 (e)		442,000		427,666
4.90% 06/01/43 (e)		634,000		608,069
NXP BV/NXP Funding LLC
4.13% 06/01/21 (b)		2,369,000		2,344,552
Occidental Petroleum Corp.
4.10% 02/15/47 (e)		432,000		406,387
4.20% 03/15/48 (e)		463,000		442,142
Olin Corp.
5.00% 02/01/30 (e)		2,373,000		2,075,663
Omnicom Group Inc./Omnicom Capital Inc.
3.63% 05/01/22 (e)		941,000		928,362
Oncor Electric Delivery Company LLC
3.80% 09/30/47 (e)		253,000		238,417
Oracle Corp.
2.40% 09/15/23 (e)		539,000		517,424
3.25% 11/15/27 (e)		872,000		841,000

See Notes to Schedules of Investments and Notes to Financial Statements.


GE RSP Income Fund			23

GE RSP Income Fund

Schedule of Investments, continued — December 31, 2018


	Principal Amount ($) or Number of Shares		Fair Value $

3.80% 11/15/37 (e)		348,000		325,119
4.00% 07/15/46 - 11/15/47 (e)		1,405,000		1,309,099
4.13% 05/15/45 (e)		316,000		299,552
Oshkosh Corp.
5.38% 03/01/25 (e)		917,000		922,053
Owens Corning
4.40% 01/30/48 (e)		477,000		365,234
Owens-Brockway Glass Container Inc.
6.38% 08/15/25 (e)(b)		1,300,000		1,288,573
Pacific Gas & Electric Co.
3.40% 08/15/24 (e)		4,159,000		3,623,612
PacifiCorp
6.25% 10/15/37 (e)		1,563,000		1,941,606
Packaging Corporation of America
3.40% 12/15/27 (e)		366,000		342,195
Parker-Hannifin Corp.
3.25% 03/01/27 (e)		1,501,000		1,437,973
Party City Holdings Inc.
6.63% 08/01/26 (e)(b)		1,835,000		1,668,822
Penske Automotive Group Inc.
5.38% 12/01/24 (e)		1,993,000		1,866,225
PepsiCo Inc.
3.45% 10/06/46 (e)		365,000		326,660
Perrigo Finance Unlimited Co.
3.50% 03/15/21 (e)		768,000		754,844
3.90% 12/15/24 (e)		1,009,000		967,752
Petroleos Mexicanos
4.50% 01/23/26		844,000		730,414
5.35% 02/12/28		434,000		379,728
5.38% 03/13/22		1,678,000		1,650,279
5.63% 01/23/46		544,000		412,129
6.35% 02/12/48		471,000		376,263
6.38% 01/23/45		735,000		594,314
6.50% 03/13/27		1,170,000		1,102,503
6.75% 09/21/47		1,179,000		976,967
Pfizer Inc.
3.00% 12/15/26 (e)		435,000		419,862
3.20% 09/15/23		882,000		884,267
3.60% 09/15/28		1,470,000		1,475,454
4.13% 12/15/46 (e)		426,000		427,589
4.40% 05/15/44 (e)		252,000		262,229
Philip Morris International Inc.
4.13% 03/04/43 (e)		788,000		700,091
Phillips 66
3.90% 03/15/28 (e)		1,066,000		1,025,727
Phillips 66 Partners LP
3.75% 03/01/28 (e)		480,000		443,386
4.68% 02/15/45 (e)		571,000		507,984
Pilgrim’s Pride Corp.
5.88% 09/30/27 (e)(b)		2,769,000		2,524,276
Pioneer Natural Resources Co.
3.95% 07/15/22		1,505,000		1,508,642
Plains All American Pipeline LP/PAA Finance Corp.
4.70% 06/15/44 (e)		337,000		281,146
5.75% 01/15/20 (e)		1,282,000		1,307,666


	Principal Amount ($) or Number of Shares		Fair Value $
PNC Bank NA
2.40% 10/18/19 (e)		1,179,000		1,171,891
PPL Capital Funding Inc.
3.10% 05/15/26 (e)		1,117,000		1,047,310
Precision Castparts Corp.
4.38% 06/15/45 (e)		840,000		839,177
Prudential Financial Inc. (5.70% fixed rate until 09/15/28; 2.67% + 3 month USD LIBOR thereafter)
5.70% 09/15/48 (h)		1,274,000		1,172,551
Public Service Company of Colorado
3.70% 06/15/28 (e)		1,377,000		1,390,949
Public Service Electric & Gas Co.
2.38% 05/15/23 (e)		2,055,000		1,985,294
PulteGroup Inc.
5.50% 03/01/26 (e)		1,700,000		1,640,500
QUALCOMM Inc.
2.90% 05/20/24 (e)		76,000		72,336
3.00% 05/20/22 (e)		457,000		450,209
3.25% 05/20/27 (e)		90,000		83,734
4.30% 05/20/47 (e)		190,000		169,129
Quicken Loans Inc.
5.25% 01/15/28 (b)		1,580,000		1,418,003
Range Resources Corp.
5.00% 08/15/22 (e)		2,374,000		2,125,490
Realty Income Corp.
3.00% 01/15/27 (e)		349,000		323,973
Republic Services Inc.
3.38% 11/15/27 (e)		354,000		339,458
Reynolds American Inc.
4.45% 06/12/25 (e)		67,000		64,443
Rio Tinto Finance USA PLC
4.13% 08/21/42 (e)		415,000		399,965
Roche Holdings Inc.
2.25% 09/30/19 (e)(b)		1,195,000		1,186,862
Rockwell Collins Inc.
3.50% 03/15/27 (e)		1,002,000		943,133
Rogers Communications Inc.
5.00% 03/15/44 (e)		289,000		300,323
Royal Bank of Scotland Group PLC (4.52% fixed rate until 06/25/23; 1.55% + 3 month USD LIBOR thereafter)
4.52% 06/25/24 (h)(e)		953,000		933,778
RPM International Inc.
3.75% 03/15/27 (e)		657,000		625,057
Ryder System Inc.
2.45% 09/03/19 (e)		3,608,000		3,587,182
Sabine Pass Liquefaction LLC
4.20% 03/15/28 (e)		641,000		609,892
5.00% 03/15/27 (e)		377,000		379,473
salesforce.com Inc.
3.25% 04/11/23 (e)		1,128,000		1,132,501
3.70% 04/11/28 (e)		1,490,000		1,496,541
Santander Holdings USA Inc.
2.65% 04/17/20 (e)		2,848,000		2,811,688
3.70% 03/28/22 (e)		2,492,000		2,447,244
4.40% 07/13/27 (e)		631,000		595,651

See Notes to Schedules of Investments and Notes to Financial Statements.


24		GE RSP Income Fund

GE RSP Income Fund

Schedule of Investments, continued — December 31, 2018


	Principal Amount ($) or Number of Shares		Fair Value $

Santander UK Group Holdings PLC
4.75% 09/15/25 (e)(b)		1,205,000		1,136,014
Schlumberger Holdings Corp.
3.00% 12/21/20 (e)(b)		1,044,000		1,035,220
3.63% 12/21/22 (b)		3,259,000		3,244,106
4.00% 12/21/25 (e)(b)		1,516,000		1,494,821
Sempra Energy
3.80% 02/01/38 (e)		423,000		364,131
4.00% 02/01/48 (e)		459,000		387,410
Shell International Finance BV
2.38% 08/21/22		1,599,000		1,553,540
3.75% 09/12/46 (e)		319,000		295,544
4.13% 05/11/35 (e)		450,000		448,097
Shire Acquisitions Investments Ireland DAC
2.40% 09/23/21 (e)		1,118,000		1,080,223
2.88% 09/23/23 (e)		904,000		854,208
3.20% 09/23/26 (e)		350,000		319,039
Siemens Financieringsmaatschappij N.V.
2.00% 09/15/23 (b)		2,355,000		2,206,776
3.40% 03/16/27 (e)(b)		916,000		893,127
Simon Property Group LP
3.38% 06/15/27 (e)		845,000		810,178
Sinclair Television Group Inc.
5.38% 04/01/21 (e)		1,980,000		1,973,545
Sirius XM Radio Inc.
5.00% 08/01/27 (b)		790,000		721,507
SM Energy Co.
5.63% 06/01/25		808,000		702,960
Smithfield Foods Inc.
2.70% 01/31/20 (e)(b)		650,000		641,901
4.25% 02/01/27 (e)(b)		770,000		703,603
South Carolina Electric & Gas Co.
4.10% 06/15/46 (e)		438,000		415,623
Southern California Edison Co.
2.40% 02/01/22 (e)		1,240,000		1,194,418
Southern Company Gas Capital Corp.
4.40% 05/30/47		166,000		154,551
Southern Copper Corp.
5.88% 04/23/45 (e)		525,000		533,757
Southwestern Electric Power Co.
2.75% 10/01/26 (e)		1,003,000		923,643
Spectra Energy Partners LP
3.38% 10/15/26 (e)		265,000		248,281
4.50% 03/15/45 (e)		168,000		153,663
Sprint Corp.
7.63% 02/15/25 (e)		2,824,000		2,850,630
Standard Industries Inc.
5.38% 11/15/24 (e)(b)		4,068,000		3,830,063
Starbucks Corp.
4.00% 11/15/28 (e)		757,000		748,802
Steel Dynamics Inc.
5.13% 10/01/21		790,000		794,511
Sumitomo Mitsui Financial Group Inc.
2.78% 07/12/22		2,056,000		2,002,770


	Principal Amount ($) or Number of Shares		Fair Value $
Suncor Energy Inc.
4.00% 11/15/47 (e)		252,000		223,446
Sunoco Logistics Partners Operations LP
5.30% 04/01/44		709,000		625,983
Syngenta Finance N.V.
3.70% 04/24/20 (e)(b)		1,865,000		1,865,783
3.93% 04/23/21 (e)(b)		2,625,000		2,584,391
4.44% 04/24/23 (e)(b)		1,063,000		1,022,447
5.18% 04/24/28 (e)(b)		663,000		610,968
Sysco Corp.
3.25% 07/15/27 (e)		756,000		707,336
T-Mobile USA Inc.
4.50% 02/01/26 (e)		2,951,000		2,725,691
Takeda Pharmaceutical Company Ltd.
3.80% 11/26/20 (b)		1,529,000		1,540,039
4.00% 11/26/21 (b)		3,160,000		3,199,658
Tampa Electric Co.
4.35% 05/15/44 (e)		1,148,000		1,140,217
Target Corp.
2.50% 04/15/26 (e)		791,000		738,193
Teck Resources Ltd.
5.40% 02/01/43 (e)		2,199,000		1,911,569
6.00% 08/15/40		1,186,000		1,094,263
Telecom Italia S.p.A.
5.30% 05/30/24 (e)		3,912,000		3,709,945
Telefonica Emisiones SA
4.10% 03/08/27 (e)		965,000		932,296
Tenet Healthcare Corp.
4.63% 07/15/24		825,000		768,479
4.75% 06/01/20 (e)		2,622,000		2,619,981
6.00% 10/01/20 (e)		2,630,000		2,651,803
Teva Pharmaceutical Finance Netherlands III BV
1.70% 07/19/19 (e)		4,645,000		4,569,890
2.20% 07/21/21 (e)		715,000		656,156
2.80% 07/21/23 (e)		3,958,000		3,407,165
Texas Instruments Inc.
4.15% 05/15/48 (e)		509,000		508,165
The Allstate Corp.
4.20% 12/15/46 (e)		378,000		367,272
The Allstate Corp. (5.75% fixed rate until 08/15/23; 2.94% + 3 month USD LIBOR thereafter)
5.75% 08/15/53 (h)(e)		1,608,000		1,558,393
The Bank of New York Mellon Corp. (2.66% fixed rate until 05/16/22; 0.63% + 3 month USD LIBOR thereafter)
2.66% 05/16/23 (h)(e)		893,000		870,479
The Bank of New York Mellon Corp. (4.63% fixed rate until 09/20/26; 3.13% + 3 month USD LIBOR thereafter)
4.63% 12/29/49 (h)(e)		1,558,000		1,396,872
The Bank of Nova Scotia (4.65% fixed rate until 10/12/22; 2.65% + 3 month USD LIBOR thereafter)
4.65% 12/31/99 (h)(e)		1,454,000		1,286,819
The Boeing Co.
3.25% 03/01/28 (e)		943,000		923,612
3.55% 03/01/38 (e)		1,204,000		1,123,019

See Notes to Schedules of Investments and Notes to Financial Statements.


GE RSP Income Fund			25

GE RSP Income Fund

Schedule of Investments, continued — December 31, 2018


	Principal Amount ($) or Number of Shares		Fair Value $

The Chemours Co.
5.38% 05/15/27		790,000		711,774
The Dow Chemical Co.
4.25% 10/01/34 (e)		731,000		662,118
5.55% 11/30/48 (b)		793,000		806,132
The George Washington University
4.13% 09/15/48		905,000		904,692
The Goldman Sachs Group Inc.
3.85% 01/26/27 (e)		1,069,000		1,007,297
4.25% 10/21/25 (e)		1,227,000		1,172,914
4.80% 07/08/44 (e)		944,000		898,480
5.15% 05/22/45 (e)		413,000		389,166
The Goldman Sachs Group Inc. (2.91% fixed rate until 06/05/22; 1.05% + 3 month USD LIBOR thereafter)
2.91% 06/05/23 (h)(e)		1,692,000		1,617,687
The Goldman Sachs Group Inc. (3.81% fixed rate until 04/23/28; 1.16% + 3 month USD LIBOR thereafter)
3.81% 04/23/29 (h)(e)		606,000		564,404
The Goldman Sachs Group Inc. (4.02% fixed rate until 10/31/37; 1.37% + 3 month USD LIBOR thereafter)
4.02% 10/31/38 (h)(e)		632,000		555,263
The Goldman Sachs Group Inc. (4.22% fixed rate until 05/01/28; 1.30% + 3 month USD LIBOR thereafter)
4.22% 05/01/29 (h)(e)		850,000		818,933
The Hartford Financial Services Group Inc. 2.13% + 3 month USD LIBOR
4.74% 02/12/47 (h)(e)(b)		1,075,000		860,065
The Home Depot Inc.
3.35% 09/15/25 (e)		433,000		427,765
3.50% 09/15/56 (e)		607,000		509,844
3.90% 12/06/28		1,191,000		1,218,417
3.90% 06/15/47 (e)		657,000		621,522
4.50% 12/06/48		991,000		1,023,753
The Interpublic Group of Companies Inc.
3.75% 10/01/21		1,893,000		1,904,737
The Korea Development Bank
3.38% 09/16/25		920,000		905,188
The Kroger Co.
2.95% 11/01/21 (e)		1,942,000		1,910,559
4.65% 01/15/48 (e)		414,000		373,353
The Mosaic Co.
5.63% 11/15/43 (e)		169,000		170,715
The Sherwin-Williams Co.
2.25% 05/15/20 (e)		1,318,000		1,297,347
2.75% 06/01/22 (e)		493,000		476,519
3.45% 06/01/27 (e)		15,000		13,964
4.50% 06/01/47 (e)		153,000		137,954
The Southern Co.
1.85% 07/01/19 (e)		4,873,000		4,836,989
3.25% 07/01/26 (e)		460,000		430,160
4.40% 07/01/46 (e)		154,000		141,916
The Toronto-Dominion Bank (3.63% fixed rate until 09/15/26; 2.21% + USD 5 year Swap Rate thereafter)
3.63% 09/15/31 (h)(e)		1,653,000		1,561,027
The Walt Disney Co.
4.13% 06/01/44 (e)		354,000		350,364


	Principal Amount ($) or Number of Shares		Fair Value $
The Williams Companies Inc.
3.75% 06/15/27 (e)		305,000		286,761
3.90% 01/15/25 (e)		507,000		492,038
4.85% 03/01/48 (e)		547,000		497,059
4.90% 01/15/45 (e)		261,000		236,628
5.40% 03/04/44 (e)		181,000		173,443
Time Warner Cable LLC
4.50% 09/15/42 (e)		157,000		124,785
6.55% 05/01/37 (e)		488,000		493,324
TransCanada PipeLines Ltd.
4.25% 05/15/28		1,785,000		1,766,722
4.88% 01/15/26		316,000		326,874
Transcontinental Gas Pipe Line Company LLC
4.00% 03/15/28		803,000		775,738
Tyco Electronics Group S.A.
2.35% 08/01/19 (e)		2,716,000		2,701,985
3.13% 08/15/27 (e)		847,000		786,414
Tyson Foods Inc.
2.65% 08/15/19 (e)		526,000		523,281
4.55% 06/02/47 (e)		201,000		176,782
U.S. Bancorp
3.15% 04/27/27		1,228,000		1,178,696
U.S. Bancorp (5.13% fixed rate until 01/15/21; 3.49% + 3 month USD LIBOR thereafter)
5.13% 12/29/49 (h)(e)		2,552,000		2,532,452
UBS Group Funding Switzerland AG (2.86% fixed rate until 08/15/22; 0.95% + 3 month USD LIBOR thereafter)
2.86% 08/15/23 (h)(b)		2,210,000		2,120,362
Union Pacific Corp.
3.20% 06/08/21 (e)		1,906,000		1,912,919
3.50% 06/08/23 (e)		1,381,000		1,384,604
3.60% 09/15/37 (e)		228,000		203,953
4.10% 09/15/67 (e)		414,000		348,079
United Rentals North America Inc.
4.88% 01/15/28		808,000		709,295
United Technologies Corp.
3.65% 08/16/23		1,470,000		1,464,443
3.75% 11/01/46		595,000		508,969
3.95% 08/16/25		588,000		583,943
4.13% 11/16/28		236,000		233,845
4.15% 05/15/45 (e)		672,000		601,306
4.45% 11/16/38		531,000		512,282
4.50% 06/01/42 (e)		468,000		444,778
UnitedHealth Group Inc.
4.45% 12/15/48		790,000		813,732
4.75% 07/15/45 (e)		749,000		792,097
Vale Overseas Ltd.
4.38% 01/11/22 (e)		106,000		107,943
6.25% 08/10/26 (e)		541,000		585,903
6.88% 11/10/39 (e)		393,000		454,037
Vale S.A.
5.63% 09/11/42 (e)		235,000		237,399

See Notes to Schedules of Investments and Notes to Financial Statements.


26		GE RSP Income Fund

GE RSP Income Fund

Schedule of Investments, continued — December 31, 2018


	Principal Amount ($) or Number of Shares		Fair Value $

Valero Energy Partners LP
4.38% 12/15/26		1,528,000		1,501,413
Ventas Realty LP
3.25% 10/15/26 (e)		869,000		808,283
Verizon Communications Inc.
3.38% 02/15/25 (e)		874,000		847,806
4.33% 09/21/28		1,049,000		1,052,839
4.40% 11/01/34 (e)		728,000		702,680
4.67% 03/15/55 (e)		562,000		517,349
4.86% 08/21/46 (e)		2,922,000		2,875,073
5.01% 04/15/49 (e)		379,000		377,613
5.25% 03/16/37 (e)		543,000		568,488
Viacom Inc.
3.45% 10/04/26 (e)		516,000		477,238
4.38% 03/15/43		623,000		503,446
5.25% 04/01/44 (e)		179,000		161,000
Virgin Media Finance PLC
5.75% 01/15/25 (e)(b)		2,126,000		2,000,077
Virginia Electric & Power Co.
4.00% 11/15/46 (e)		1,102,000		1,043,803
Visa Inc.
3.15% 12/14/25 (e)		443,000		435,115
4.30% 12/14/45 (e)		475,000		491,891
Vodafone Group PLC
4.38% 05/30/28 (e)		1,297,000		1,257,234
5.25% 05/30/48 (e)		391,000		366,371
Volkswagen Group of America Finance LLC
4.00% 11/12/21 (b)		2,739,000		2,735,658
Vornado Realty LP
3.50% 01/15/25 (e)		567,000		545,930
Vulcan Materials Co.
3.90% 04/01/27 (e)		385,000		365,261
Wabtec Corp.
3.45% 11/15/26 (e)		249,000		222,300
Walgreens Boots Alliance Inc.
4.65% 06/01/46 (e)		257,000		232,007
Walmart Inc.
3.63% 12/15/47 (e)		505,000		467,403
3.70% 06/26/28 (e)		1,227,000		1,244,522
3.95% 06/28/38 (e)		490,000		486,908
4.05% 06/29/48 (e)		532,000		528,558
Warner Media LLC
5.35% 12/15/43 (e)		755,000		724,347
WEC Energy Group Inc.
3.55% 06/15/25 (e)		861,000		836,969
WellCare Health Plans Inc.
5.25% 04/01/25 (e)		1,667,000		1,604,804
Wells Fargo & Co.
2.63% 07/22/22 (e)		2,768,000		2,669,542
3.90% 05/01/45 (e)		49,000		44,971
4.75% 12/07/46 (e)		1,969,000		1,900,321
Wells Fargo & Co. (5.88% fixed rate until 06/15/25; 3.99% + 3 month USD LIBOR thereafter)
5.88% 12/29/49 (h)(e)		1,173,000		1,160,472


	Principal Amount ($) or Number of Shares		Fair Value $
Wells Fargo & Co. (5.90% fixed rate until 06/15/24; 3.11% + 3 month USD LIBOR thereafter)
5.90% 12/29/49 (h)(e)		1,260,000		1,199,646
Wells Fargo & Co. 3.77% + 3 month USD LIBOR
6.56% 03/29/49 (h)(e)		1,704,000		1,694,015
Wells Fargo Bank NA
2.60% 01/15/21 (e)		8,927,000		8,810,949
Western Gas Partners LP
4.00% 07/01/22 (e)		2,242,000		2,212,226
5.38% 06/01/21 (e)		415,000		427,545
Westlake Chemical Corp.
3.60% 08/15/26 (e)		536,000		492,788
4.38% 11/15/47 (e)		153,000		127,004
5.00% 08/15/46 (e)		278,000		254,081
Willis North America Inc.
3.60% 05/15/24 (e)		900,000		876,501
WPP Finance 2010
3.75% 09/19/24 (e)		556,000		518,325
WRKCo Inc.
3.00% 09/15/24 (e)(b)		691,000		649,588
Xilinx Inc.
2.95% 06/01/24 (e)		602,000		574,760
XPO Logistics Inc.
6.50% 06/15/22 (e)(b)		923,000		914,019
Yamana Gold Inc.
4.63% 12/15/27 (e)		923,000		853,295
Zoetis Inc.
3.00% 09/12/27 (e)		375,000		346,290
3.90% 08/20/28		881,000		870,569

				859,937,672


Non-Agency Collateralized Mortgage Obligations - 3.0%
BANK 2018-BNK11
4.36% 03/15/61 (h)(e)		1,248,000		1,264,233
BXP Trust2017-GM
3.38% 06/13/39 (e)		6,314,000		6,174,182
Citigroup Commercial Mortgage Trust2016-P5
2.94% 10/10/49 (e)		3,484,742		3,330,441
Citigroup Commercial Mortgage Trust2016-P6
3.72% 12/10/49 (h)(e)		4,760,458		4,797,061
4.03% 12/10/49 (h)(e)		2,942,926		2,962,339
Citigroup Commercial Mortgage Trust2018-C5
4.51% 06/10/51 (e)		2,218,000		2,266,771
COMM 2013-LC13 Mortgage Trust
4.56% 08/10/46 (h)(e)(b)		1,375,000		1,420,722
COMM 2014-CR14 Mortgage Trust
4.53% 02/10/47 (h)(e)		1,940,000		2,005,037
GS Mortgage Securities Trust 2012-GCJ9
1.96% 11/10/45 (h)(g)(e)		5,721,218		362,885
GS Mortgage Securities Trust2016-GS3
2.85% 10/10/49 (e)		2,912,000		2,762,115
GS Mortgage Securities Trust2017-GS5
3.67% 03/10/50 (e)		3,557,532		3,553,748

See Notes to Schedules of Investments and Notes to Financial Statements.


GE RSP Income Fund			27

GE RSP Income Fund

Schedule of Investments, continued — December 31, 2018


	Principal Amount ($) or Number of Shares		Fair Value $

GS Mortgage Securities Trust2017-GS8
3.47% 11/10/50 (e)		7,000,045		6,884,495
GS Mortgage Securities Trust2018-GS9
4.14% 03/10/51 (h)(e)		2,609,000		2,646,474
Impac CMB Trust2004-5 0.72% + 1 month USD LIBOR
3.23% 10/25/34 (h)(e)		582,704		566,182
JP Morgan Chase Commercial Mortgage Securities Corp.2012-LC9
1.53% 12/15/47 (h)(g)(e)		6,261,226		278,126
JPMBB Commercial Mortgage Securities Trust2013-C12
4.03% 07/15/45 (h)(e)		1,010,000		1,022,966
LB-UBS Commercial Mortgage Trust2004-C8
0.32% 12/15/39 (h)(g)(e)(b)		625,746		593
LB-UBS Commercial Mortgage Trust2007-C6
6.11% 07/15/40 (e)(b)		98,790		99,336
6.11% 07/15/40 (h)(e)		44,740		44,988
Morgan Stanley Bank of America Merrill Lynch Trust2015-C21
0.94% 03/15/48 (h)(g)(e)		30,472,536		1,337,143
Morgan Stanley Capital I Trust 2006-IQ11
6.25% 10/15/42 (h)(e)		2,300,000		2,346,573
Morgan Stanley Capital I Trust2006-T21
5.24% 10/12/52 (h)(e)		205,215		206,992
UBS Commercial Mortgage Trust2018-C12
4.79% 08/15/51 (h)(e)		1,869,000		1,928,596
Wells Fargo Commercial Mortgage Trust2015-C26
1.23% 02/15/48 (h)(g)(e)		24,537,133		1,405,129
Wells Fargo Commercial Mortgage Trust2018-AUS
4.06% 07/17/36 (h)(e)(b)		3,109,000		3,157,874
WFRBS Commercial Mortgage Trust2013-C17
4.26% 12/15/46 (e)		1,880,000		1,918,918
WFRBS Commercial Mortgage Trust 2014-LC14
4.35% 03/15/47 (h)(e)		4,333,000		4,408,626

				59,152,545


Sovereign Bonds - 0.8%
Government of Chile
3.63% 10/30/42		150,000		137,439
3.86% 06/21/47		860,000		803,025
Government of Colombia
2.63% 03/15/23		711,000		671,518
3.88% 04/25/27		1,185,000		1,133,879
5.00% 06/15/45		1,271,000		1,211,924
Government of Indonesia
3.50% 01/11/28		578,000		534,956
4.35% 01/11/48		232,000		211,744
Government of Mexico
3.60% 01/30/25		1,402,000		1,341,195
4.00% 10/02/23		620,000		617,433
4.60% 02/10/48		972,000		863,340
4.75% 03/08/44		2,068,000		1,877,227
Government of Oman
4.13% 01/17/23 (b)		1,561,000		1,432,389


	Principal Amount ($) or Number of Shares		Fair Value $
Government of Panama
4.00% 09/22/24		1,263,000		1,272,662
4.50% 05/15/47		530,000		515,722
Government of Peru
5.63% 11/18/50		884,000		1,037,242
Government of Philippines
3.95% 01/20/40		835,000		815,470
Government of Uruguay
5.10% 06/18/50		884,133		868,997

				15,346,162


Municipal Bonds and Notes - 0.8%
American Municipal Power Inc.
6.27% 02/15/50 (e)		1,080,000		1,340,280
Metropolitan St. Louis Sewer District
5.00% 05/01/47		3,595,000		4,067,419
New Jersey Transportation Trust Fund Authority
6.88% 12/15/39 (e)		880,000		891,951
Port Authority of New York & New Jersey
4.46% 10/01/62 (e)		4,095,000		4,166,294
State of California
4.60% 04/01/38		1,840,000		1,897,684
5.70% 11/01/21 (e)		2,075,000		2,231,766
State of Illinois
5.10% 06/01/33 (e)		745,000		710,305
The University of Texas System
3.35% 08/15/47 (e)		1,025,000		928,107

				16,233,806


FNMA (TBA) - 0.0%*
Lehman
5.50% TBA (j)(k)(e)		1,140,372		28,395


Total Bonds and Notes (Cost $1,969,528,290)				1,954,131,300


Domestic Equity - 0.1%
Preferred Stock - 0.1%
Wells Fargo & Co. 3.09% + 3 month USD LIBOR (Cost $1,375,850) (h)(e)		55,034		1,352,185


Total Investments in Securities (Cost $1,970,904,140)				1,955,483,485


Total Investments (Cost $1,970,904,140)				1,955,483,485

Other Assets and Liabilities, net - 1.8%				36,685,968


NET ASSETS - 100.0%				1,992,169,453

See Notes to Schedules of Investments and Notes to Financial Statements.


28		GE RSP Income Fund

GE RSP Income Fund

Schedule of Investments, continued — December 31, 2018

Other Information:

Centrally Cleared Credit Default Swaps - Sell Protection


Reference Entity	Counterparty		Notional Amount (000s omitted)		Contract Annual Fixed Rate/ Payment Frequency		Termination Date		Market Value		Unamortized Upfront Payments Received		Unrealized Depreciation

Markit CDX North America High Yield Index		Intercontinental Exchange	$	22,433		5.00%/ Quarterly		12/20/23	$	455,413	$	1,233,213	$	(777,800	)

Centrally Cleared Interest Rate Swaps


Counterparty	Notional Amount (000s omitted)	Fund Pays/ Receives Fixed Rate/ Payment Frequency		Floating Rate		Contract Annual Fixed Rate		Termination Date		Market Value			Unamortized Upfront Payments Received		Unrealized Depreciation

CME Group, Inc.	$95,585		Receives/ Quarterly		3 Month U.S. Dollar LIBOR		3.05%		11/19/21	$	(1,231,470	)	$	—	$	(1,231,470	)
CME Group, Inc.	95,608		Receives/ Quarterly		3 Month U.S. Dollar LIBOR		3.06%		11/19/21		(1,243,690	)		—		(1,243,690	)

															$	(2,475,160	)

The Fund had the following long futures contracts open at December 31, 2018:


Description	Expiration date		Number of Contracts		Notional Amount		Value		Unrealized Appreciation

Ultra Long-Term U.S. Treasury Bond Futures		March 2019		487	$	75,118,911	$	78,239,594	$	3,120,683
2 Yr. U.S. Treasury Notes Futures		March 2019		1,797		379,042,540		381,525,562		2,483,022
5 Yr. U.S. Treasury Notes Futures		March 2019		685		77,510,246		78,560,938		1,050,692
10 Yr. U.S. Treasury Notes Futures		March 2019		1,039		124,129,691		126,774,234		2,644,543

									$	9,298,940

The Fund had the following short futures contracts open at December 31, 2018:


Description	Expiration date		Number of Contracts		Notional Amount			Value			Unrealized Depreciation

U.S. Long Bond Futures		March 2019		147	$	(20,464,827	)	$	(21,462,000	)	$	(997,173	)
10 Yr. U.S. Treasury Ultra Futures		March 2019		559		(70,658,636	)		(72,713,672	)		(2,055,036	)

											$	(3,052,209	)

See Notes to Schedules of Investments and Notes to Financial Statements.


GE RSP Income Fund			29

GE RSP Income Fund

Schedule of Investments, continued — December 31, 2018

During the period ended December 31, 2018, average notional values related to derivative contracts were as follows:

Purchased

Put

Options

Purchased

Call

Options

Written

Put

Options

Written

Call

Options

Long

Futures

Contracts

Short

Futures

Contracts

Credit

Default

Swap

Contracts

Interest

Rate

Swap

Contracts

Average Notional Value

$—

267,383

—

126,055

677,847,743

215,132,620

40,444,417

201,111,666

The following table presents the Fund’s investments measured at fair value on a recurring basis at December 31, 2018:


Fund	Investments	Level 1			Level 2			Level 3		Total

GE RSP Income Fund	Investments in Securities

	U.S. Treasuries	$	—		$	532,300,563		$	—	$	532,300,563

	Agency Mortgage Backed		—			399,551,725			—		399,551,725

	Agency Collateralized Mortgage Obligations		—			15,286,958			—		15,286,958

	Asset Backed		—			56,293,474			—		56,293,474

	Corporate Notes		—			859,937,672			—		859,937,672

	Non-Agency Collateralized Mortgage Obligations		—			59,152,545			—		59,152,545

	Sovereign Bonds		—			15,346,162			—		15,346,162

	Municipal Bonds and Notes		—			16,233,806			—		16,233,806

	FNMA (TBA)		—			—			28,395		28,395

	Preferred Stock		1,352,185			—			—		1,352,185


	Total Investments in Securities	$	1,352,185		$	1,954,102,905		$	28,395	$	1,955,483,485


	Other Financial Instruments

	Credit Default Swap Contracts — Unrealized Depreciation	$	—		$	(777,800	)	$	—	$	(777,800	)

	Interest Rate Swap Contracts — Unrealized Depreciation		—			(2,475,160	)		—		(2,475,160	)

	Long Futures Contracts — Unrealized Appreciation		9,298,940			—			—		9,298,940

	Short Futures Contracts — Unrealized Depreciation		(3,052,209	)		—			—		(3,052,209	)


	Total Other Financial Instruments	$	6,246,731		$	(3,252,960	)	$	—	$	2,993,771

Affiliate Table


	Number of Shares Held at 12/31/17		Value At 12/31/17		Cost of Purchases		Proceeds from Shares Sold		Number of Shares Held at 12/31/18		Value at 12/31/18		Dividend Income

State Street Corporation (Time Deposit)		82,636,353	$	82,636,353	$	14,541,016,515	$	14,623,652,868		—	$	—	$	155,203

See Notes to Schedules of Investments and Notes to Financial Statements.


30		GE RSP Income Fund

GE RSP Funds

Notes to Schedules of Investments — December 31, 2018

The views expressed in this document reflect our judgment as of the publication date and are subject to change at any time without notice. The securities cited may not be representative of the Funds’ future investments and should not be construed as a recommendation to purchase or sell a particular security. See the Funds’ Supplemental Information Documents and Consolidated Profile for complete descriptions of investment objectives, policies, risks and permissible investments.

(a)	Non-income producing security.

(b)

Pursuant to Rule 144A of the Securities Act of 1933, as amended, these securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2018, these securities amounted to $149,763,485 or 9.02% of the net assets of the GE RSP Income Fund. These securities have been determined to be liquid using procedures established by the Fund’s Board of Trustees.

(c)	Settlement is on a delayed delivery or when-issued basis with final maturity to be announced (“TBA”) in the future.

(d)	Coupon amount represents effective yield.

(e)	At December 31, 2018, all or a portion of this security was pledged to cover collateral requirements for current or potential holdings of futures, TBAs and/or swap contracts.

(f)	Principal only security. These securities represent the right to receive the monthly principal payments on an underlying pool of mortgages. No payments of interest on the pool are passed through to the “principal only” holder.

(g)	Interest only security. These securities represent the right to receive the monthly interest payments on an underlying pool of mortgages. Payments of principal on the pool reduce the value of the “interest only” holding.

(h)	Variable Rate Security—Interest rate shown is rate in effect at December 31, 2018. For securities based on a published reference rate and spread, the reference rate and spread are indicated in the description above.

(i)	Step coupon bond.

(j)	Security is in default.

(k)	Security is fair valued by the Oversight Committee, in accordance with the procedures approved by the Board of Trustees. Security value is determined based on level 3 inputs.

†	Percentages are based on net assets as of December 31, 2018.

*	Less than 0.05%

Abbreviations:

CMT - Constant Maturity Treasury

LIBOR - London Interbank Offered Rate

REIT - Real Estate Investment Trust

REMIC - Real Estate Mortgage Investment Conduit

STRIPS - Separate Trading of Registered Interest and Principal of Security

TBA - To Be Announced


Notes to Schedules of Investments			31

GE RSP U.S. Equity Fund

Financial Highlights

Selected data based on a share outstanding throughout the fiscal years indicated


	12/31/18			12/31/17			12/31/16			12/31/15*			12/31/14^*
Net asset value, beginning of period	$	52.45		$	49.27		$	47.59		$	54.31		$	54.73


Income/(loss) from investment operations:
Net investment income		0.77	^(a)		0.76	^(a)		0.92			0.92			0.93
Net realized and unrealized gains/(losses) on investments		(2.41	)		9.35			3.92			(1.94	)		6.40

Total income/(loss) from investment operations		(1.64	)		10.11			4.84			(1.02	)		7.33


Less distributions from:
Net investment income		0.81			0.81			0.91			0.92			0.92
Net realized gains		3.95			6.12			2.25			4.78			6.83

Total distributions		4.76			6.93			3.16			5.70			7.75

Net asset value, end of period	$	46.05		$	52.45		$	49.27		$	47.59		$	54.31

Total Return^(b)		(3.05	)%		20.50	%		10.13	%		(2.05	)%		13.27	%

Ratios/Supplemental Data:
Net assets, end of period (in thousands)	$	4,700,274		$	5,435,513		$	4,914,567		$	4,941,537		$	5,445,144

Ratios to average net assets:
Gross expenses		0.14	%		0.14	%		0.16	%		0.16	%		0.14	%
Net investment income		1.41	%		1.39	%		1.79	%		1.62	%		1.58	%
Portfolio turnover rate		40	%		77	%		38	%		37	%		41	%

(a)

Per share values have been calculated using the average share method.

(b)

Total returns are historical and assume changes in share price, reinvestment of dividends and capital gains distributions. Past performance does not guarantee future results.

Beginning with year ended December 31, 2016, the Funds were audited by BBD, LLP. The previous years were audited by another independent registered public accounting firm.

The accompanying Notes are an integral part of these financial statements.


32		Financial Highlights

GE RSP Income Fund

Financial Highlights

Selected data based on a share outstanding throughout the fiscal years indicated


	12/31/18			12/31/17			12/31/16			12/31/15*			12/31/14*
Net asset value, beginning of period	$	11.55		$	11.38		$	11.36		$	11.67		$	11.33


Income/(loss) from investment operations:
Net investment income		0.32	^(a)		0.29	^(a)		0.31			0.33			0.30
Net realized and unrealized gains/(losses) on investments		(0.40	)		0.16			0.09			(0.29	)		0.35

Total income/(loss) from investment operations		(0.08	)		0.45			0.40			0.04			0.65


Less distributions from:
Net investment income		0.33			0.28			0.29			0.33			0.31
Net realized gains		—			—			0.09			0.02			0.00	^(b)

Total distributions		0.33			0.28			0.38			0.35			0.31

Net asset value, end of period	$	11.14		$	11.55		$	11.38		$	11.36		$	11.67

Total Return^(c)		(0.75	)%		3.99	%		3.50	%		0.34	%		5.83	%

Ratios/Supplemental Data:
Net assets, end of period (in thousands)	$	1,992,169		$	2,329,674		$	2,427,975		$	2,471,886		$	2,613,303

Ratios to average net assets:
Gross expenses		0.17	%		0.16	%		0.21	%		0.18	%		0.11	%
Net investment income		2.86	%		2.55	%		2.66	%		2.79	%		2.68	%
Portfolio turnover rate		223	%		297	%		242	%		271	%		319	%

(a)

Per share values have been calculated using the average share method.

(b)

Rounds to less than $0.005.

(c)

Total returns are historical and assume changes in share price, reinvestment of dividends and capital gains distributions. Past performance does not guarantee future results.

Beginning with year ended December 31, 2016, the Funds were audited by BBD, LLP. The previous years were audited by another independent registered public accounting firm.

The accompanying Notes are an integral part of these financial statements.


Financial Highlights			33

GE RSP Funds

Statements of Assets and Liabilities — December 31, 2018


	GE RSP U.S. Equity Fund		GE RSP Income Fund

Assets
Investments in securities, at fair value (cost $3,945,237,346 and $1,970,904,140, respectively)	$	4,514,610,745	$	1,955,483,485
Cash, interest-bearing		182,579,577		344,018,423
Cash collateral on deposit with broker for swap contracts		—		1,883,195
Receivable for investments sold		—		156,992,345
Income receivables		5,836,198		12,919,400
Receivable for accumulated variation margin on futures contracts		—		6,254,991
Receivable for accumulated variation margin on swap contracts		—		492,801
Other Receivable		—		274,000


Total assets		4,703,026,520		2,478,318,640


Liabilities
Distribution payable to shareholders		—		183,866
Net collateral amount owed to broker for futures contracts outstanding		—		5,474,958
Net collateral amount owed to brokers for pending investment trades		—		2,848,000
Payable for investments purchased		—		473,698,087
Payable for fund shares redeemed		2,014,202		961,746
Payable for accumulated variation margin on swap contracts		—		2,552,179
Payable to the Adviser		496,106		219,351
Payable for custody, fund accounting andsub-administration fees		26,487		14,839
Accrued other expenses		215,740		196,161


Total liabilities		2,752,535		486,149,187



Net Assets	$	4,700,273,985	$	1,992,169,453


Net Assets Consist of:
Capital paid in	$	4,150,621,082	$	2,066,620,521
Total accumulated earnings (loss)	$	549,652,903	$	(74,451,068	)


Net Assets	$	4,700,273,985	$	1,992,169,453


Shares outstanding ($25.00 and $10.00 par value, respectively; unlimited shares authorized)		102,065,970		178,902,451
Net asset value per share	$	46.05	$	11.14

The accompanying Notes are an integral part of these financial statements.


34		Statements of Assets and Liabilities

GE RSP Funds

Statements of Operations — For the year ended December 31, 2018


	GE RSP U.S. Equity Fund			GE RSP Income Fund
Investment Income
Income
Dividend	$	83,030,397		$	83,460
Interest		216,945			64,475,727
Income from affiliated investments		192,259			155,203

Total income		83,439,601			64,714,390


Expenses
Advisory and administration fees		6,446,638			2,768,812
Transfer agent fees		411,062			391,488
Custody, fund accounting andsub-administration fees		328,803			283,046
Professional fees		45,774			55,023
Other expenses		332,899			200,921

Total Expenses		7,565,176			3,699,290

Net investment income	$	75,874,425		$	61,015,100


Net Realized and Unrealized Gain (Loss) on Investments
Realized gain (loss) on:
Unaffiliated investments	$	363,000,975		$	(44,328,533	)
Futures		—			(7,919,335	)
Written options		—			1,256,781
Swap contracts		—			2,993,730
Foreign currency transactions		(7,631	)		—
Increase (decrease) in unrealized appreciation/depreciation on:
Unaffiliated investments		(564,798,619	)		(35,844,978	)
Futures		—			5,892,435
Swap contracts		—			(2,579,777	)


Net realized and unrealized gain (loss) on investments		(201,805,275	)		(80,529,677	)


Net Decrease in Net Assets Resulting from Operations	$	(125,930,850	)	$	(19,514,577	)

The accompanying Notes are an integral part of these financial statements.


Statements of Operations			35

GE RSP Funds

Statements of Changes in Net Assets


	GE RSP U.S. Equity Fund						GE RSP Income Fund
	Year Ended December 31, 2018			Year Ended December 31, 2017			Year Ended December 31, 2018			Year Ended December 31, 2017
Increase (Decrease) in Net Assets

Operations:
Net investment income	$	75,874,425		$	73,331,708		$	61,015,100		$	61,250,219
Net realized gain (loss) on investments, futures, swap contracts, options contracts, and foreign currency related transactions		362,993,344			589,564,812			(47,997,357	)		3,404,533
Net increase (decrease) in unrealized appreciation/depreciation on investments, futures and swap contracts		(564,798,619	)		312,351,199			(32,532,320	)		28,374,489

Net increase (decrease) from operations		(125,930,850	)		975,247,719			(19,514,577	)		93,029,241


Distributions to shareholders:
Distributions to shareholders		(443,121,714	)		(639,820,599	)		(62,721,395	)		(58,342,653	)

Increase (decrease) in net assets from operations and distributions		(569,052,564	)		335,427,120			(82,235,972	)		34,686,588


Share transactions:
Proceeds from sale of shares		34,257,404			63,469,221			26,902,668			49,857,089
Value of distributions reinvested		419,958,737			606,140,697			60,440,705			56,333,920
Cost of shares redeemed		(620,402,579	)		(484,090,590	)		(342,612,172	)		(239,178,639	)

Net increase (decrease) from share transactions		(166,186,438	)		185,519,328			(255,268,799	)		(132,987,630	)


Total increase (decrease) in net assets		(735,239,002	)		520,946,448			(337,504,771	)		(98,301,042	)

Net Assets
Beginning of year		5,435,512,987			4,914,566,539			2,329,674,224			2,427,975,266


End of year	$	4,700,273,985		$	5,435,512,987		$	1,992,169,453		$	2,329,674,224


Changes in Fund Shares
Shares sold		629,193			1,164,531			2,387,909			4,329,637
Issued for distributions reinvested		9,185,449			11,534,548			5,407,714			4,887,562
Shares redeemed		(11,381,645	)		(8,812,363	)		(30,637,415	)		(20,768,695	)

Net increase (decrease) in fund shares		(1,567,003	)		3,886,716			(22,841,792	)		(11,551,496	)

For the year ended December 31, 2017, the source of distributions paid to shareholders was (See Note 10 in the Notes to Financial Statements):



Net investment income	$	(74,706,277	)	$	(58,342,653	)
Net realized gains		(565,114,322	)		—

Total distributions		(639,820,599	)		(58,342,653	)


Undistributed net investment income as of December 31, 2017:	$	—		$	1,465,427

The accompanying Notes are an integral part of these financial statements.


36		Statements of Changes in Net Assets

GE RSP Funds

Notes to Financial Statements — December 31, 2018

Organization of the Funds

The GE RSP U.S. Equity Fund and GE RSP Income Fund (each, a “Fund” and collectively, the “Funds”) are registered under the Investment Company Act of 1940, as amended (the “1940 Act”), asopen-end management investment companies. The Funds are two of the investment options offered under the GE Retirement Savings Plan (the “RSP” or the “Plan”). The Plan, through a trust, owns 70% of the GE RSP U.S. Equity Fund and 75% of the GE RSP Income Fund. The Funds operate as Employees’ Securities Companies (as defined in the 1940 Act) and as such are exempt from certain provisions of the 1940 Act.

Summary of Significant Accounting Policies

The following is a summary of significant accounting policies followed by the Funds in the preparation of their financial statements:

The preparation of financial statements in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates. Each Fund is an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies.

Security Valuation Each Fund’s investments are valued at fair value each day that the New York Stock Exchange (“NYSE”) is open and, for financial reporting purposes, as of the report date should the reporting period end on a day that the NYSE is not open. Fair value is generally defined as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. By its nature, a fair value price is a good faith estimate of the valuation in a current sale and may not reflect an actual market price. The investments of each Fund are valued pursuant to the policy and procedures developed by the Oversight Committee (the “Committee”) and approved by the Board of Trustees (the “Board”). The Committee provides oversight of the valuation of investments for the Funds. The Board has responsibility for overseeing the determination of the fair value of investments.

Valuation techniques used to value each Fund’s investments by major category are as follows:

•

Equity investments (including preferred stocks) traded on a recognized securities exchange for which market quotations are readily available are valued at the last sale price or official closing price, as applicable, on the primary market or exchange on which they trade. Equity investments traded on a recognized exchange for which there were no sales on that day are valued at the last published sale price or at fair value.

•

Government and municipal fixed income securities are generally valued using quotations from independent pricing services or brokers. Certain government inflation-indexed securities may require a calculated fair valuation as the cumulative inflation is contained within the price provided by the pricing service or broker. For these securities, the inflation component of the price is “cleaned” from the pricing service or broker price utilizing the published inflation factors in order to ensure proper accrual of income.

•

Debt obligations (including short term investments and convertible debt securities) are valued using quotations from independent pricing services or brokers or are generally valued at the last reported evaluated prices.

•

Exchange-traded futures contracts are valued at the closing settlement price on the primary market on which they are traded most extensively. Exchange-traded futures contracts traded on a recognized exchange for which there were no sales on that day are valued at the last reported sale price obtained from independent pricing services or brokers or at fair value.

•

Swap agreements are valued daily based upon prices supplied by Board approved pricing vendors or through brokers. Depending on the product and terms of the transaction, the value of agreements is determined using a series of techniques including valuation models that incorporate a number of market data factors, such as discounted cash flows, yields, curves, trades and values of the underlying reference instruments. In the event SSGA Funds Management, Inc. (the “Adviser” or “SSGA FM”) is unable to obtain an independent, third–party valuation the agreements will be fair valued.

•

Options on futures are priced at their last sale price on the principal market on which they are traded on the valuation date. If there were no sales on that day, options on futures are valued at either the last reported sale or official closing price on their primary exchange determined in accordance with the valuation policy and procedures approved by the Board.


Notes to Financial Statements			37

GE RSP Funds

Notes to Financial Statements, continued — December 31, 2018

In the event prices or quotations are not readily available or that the application of these valuation methods results in a price for an investment that is deemed to be not representative of the fair value of such investment, fair value will be determined in good faith by the Committee, in accordance with the valuation policy and procedures approved by the Board.

The Funds value their assets and liabilities at fair value using a fair value hierarchy consisting of three broad levels that prioritize the inputs to valuation techniques giving the highest priority to readily available unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The categorization of a value determined for an investment within the hierarchy is based upon the pricing transparency of the investment and is not necessarily an indication of the risk associated with investing in it.

The three levels of the fair value hierarchy are as follows:

•

Level 1 — Unadjusted quoted prices in active markets for an identical asset or liability;

•

Level 2 — Inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not considered to be active, inputs other than quoted prices that are observable for the asset or liability (such as exchange rates, financing terms, interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs; and

•

Level 3 — Unobservable inputs for the asset or liability, including the Committee’s assumptions used in determining the fair value of investments.

The value of each Fund’s investments according to the fair value hierarchy as of December 31, 2018 is disclosed in each Fund’s Schedule of Investments.

Investment Transactions and Income Recognition Investment transactions are accounted for on trade date for financial reporting purposes. Realized gains and losses from the sale or disposition of investments and foreign exchange transactions, if any, are determined using the identified cost method.

Dividend income and capital gain distributions, if any, are recognized on theex-dividend date, net of any foreign taxes withheld at source, if any.

Interest income is recorded daily on an accrual basis. All premiums and discounts are amortized/accreted for financial reporting purposes.

Non-cash dividends received in the form of stock are recorded as dividend income at fair value.

Expenses Certain expenses, which are directly identifiable to a specific Fund, are applied to the Fund that incurs such expenses. Other expenses which cannot be attributed to a specific Fund are allocated in such a manner as deemed equitable, taking into consideration the nature and type of expense and the relative net assets of the Fund.

Distributions The GE RSP Income Fund declares investment income dividends daily and pays them monthly. The GE RSP U.S. Equity Fund declares and pays dividends from investment income annually.

Net realized capital gains, if any, are distributed annually, unless additional distributions are required for compliance with applicable tax regulations. The amount and character of income and capital gains to be distributed are determined in accordance with applicable tax regulations which may differ from net investment income and realized gains recognized for U.S. GAAP purposes.

Securities and Other Investments

Delayed Delivery Transactions and When-Issued Securities During the fiscal year ended December 31, 2018, the GE RSP Income Fund transacted in securities on a delayed delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. The securities purchased on a delayed delivery or when-issued basis are identified as such in the Fund’s Schedule of Investments. The Fund may receive


38		Notes to Financial Statements

GE RSP Funds

Notes to Financial Statements, continued — December 31, 2018

compensation for interest forgone in the purchase of a delayed delivery or when-issued security. With respect to such purchase commitments, the Fund identifies securities as segregated in its records with a value at least equal to the amount of the commitment. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract’s terms, or if the issuer does not issue the securities due to political, economic or other factors.

To-Be-Announced Transactions The GE RSP Income Fund may seek to obtain exposure to U.S. agency mortgage pass-through securities through the use of“to-be-announced” or “TBA transactions.” “TBA” refers to a commonly used mechanism for the forward settlement of U.S. agency mortgage pass-through securities. In a TBA transaction, the buyer and seller decide on general trade parameters, such as agency, settlement date, coupon, and price.

The GE RSP Income Fund may use TBA transactions to “roll over” such agreements prior to the settlement date. This type of TBA transaction is sometimes known as a “TBA roll.” In a TBA roll, the Fund generally will sell the obligation to purchase the pools stipulated in the TBA agreement prior to the settlement date and will enter into a new TBA agreement for future delivery of pools of mortgage pass-through securities. The Fund may also enter into TBA agreements and settle such transactions on the stipulated settlement date by accepting actual receipt or delivery of the pools of mortgage pass-through securities.

Default by or bankruptcy of a counterparty to a TBA transaction would expose the Fund to possible loss because of adverse market action, expenses or delays in connection with the purchase or sale of the pools of mortgage pass-through securities specified in the TBA transaction. To minimize this risk, the Fund will enter into TBA transactions only with established counterparties. The Fund’s use of “TBA rolls” may impact portfolio turnover, transaction costs and capital gain distributions to shareholders.

Derivative Financial Instruments

Futures Contracts The GE RSP Income Fund may enter into futures contracts to meet the Fund’s objectives. A futures contract is a standardized, exchange-traded agreement to buy or sell a financial instrument at a set price on a future date. Upon entering into a futures contract, the Fund is required to deposit with the broker, cash or securities in an amount equal to the minimum initial margin requirements of the clearing house. Subsequent payments are made or received by the Fund equal to the daily change in the contract value and are recorded as variation margin receivable or payable with a corresponding offset to unrealized gains or losses. The Fund recognizes a realized gain or loss when the contract is closed.

Losses may arise if the value of a futures contract decreases due to unfavorable changes in the market rates or values of the underlying instrument during the term of the contract or if the counterparty does not perform under the contract. The use of futures contracts also involves the risk that the movements in the price of the futures contracts do not correlate the movement of the assets underlying such contracts.

For the fiscal year ended December 31, 2018 the GE RSP Income Fund entered into futures contracts in order to manage exposure to interest rates.

Options on Futures Contracts The GE RSP Income Fund may purchase and write options, including options on futures contracts, subject to certain limitations. Writing puts and buying calls tend to increase a Fund’s exposure to the underlying instrument while buying puts and writing calls tend to decrease a Fund’s exposure to the underlying instrument. A Fund will not enter into a transaction involving options for speculative purposes. The Fund’s risks in using these contracts include changes in the value of the underlying instruments,non-performance of the counterparties under the contracts’ terms and changes in the liquidity of the secondary market for the contracts.

When the Fund writes an option, the amount of the premium received is recorded as a liability and is subsequently adjusted to the current fair value of the option written. Premiums received from writing options that expire unexercised are treated by the Fund on the expiration date as realized gain from investments. The difference between the premium and the amount paid on effecting a closing purchase transaction, including brokerage commissions, is also treated as a realized gain, or if the premium is less than the amount paid for the closing purchase, as a realized loss. When an option is exercised, the proceeds from the sale of the underlying instrument or the cost basis of the securities purchased is adjusted by the original premium received or paid. In return for a premium paid, call and put options on futures contracts give the holder the right, but not the obligation, to purchase or sell, respectively, a position in a particular futures contract at a specified exercise price.


Notes to Financial Statements			39

GE RSP Funds

Notes to Financial Statements, continued — December 31, 2018

For the fiscal year ended December 31, 2018, the GE RSP Income Fund purchased and wrote options in order to manage exposure to interest rates.

Credit Default Swaps During the fiscal year ended December 31, 2018, the GE RSP Income Fund engaged in credit default swaps to manage credit risk. When a Fund is the buyer in a credit default swap contract, a Fund is entitled to receive the par (or other agreed upon) value (full notional value) of a referenced debt obligation (or basket of debt obligations) from the counterparty (or central clearing party (“CCP”) in the case of a centrally cleared swap) to the contract if a credit event by a third party, such as a U.S. or foreign corporate issuer or sovereign issuer, on the debt obligation occurs. In return, a Fund pays the counterparty a periodic stream of payments over the term of the contract provided that no credit event has occurred. If no credit event occurs, a Fund loses its investment and recovers nothing. However, if a credit event occurs, a Fund receives full notional value for a referenced debt obligation that may have little or no value. When a Fund is the seller of a credit default swap, it receives a fixed rate of income throughout the term of the contract, provided there is no credit event. If a credit event occurs, a Fund is obligated to pay the notional amount of the swap and in certain instances take delivery of securities of the reference entity upon the occurrence of a credit event, as defined under the terms of that particular swap agreement. Credit events are contract specific but may include bankruptcy, failure to pay, restructuring, obligation acceleration and repudiation/moratorium. If a Fund is a seller of protection and a credit event occurs, the maximum potential amount of future payments that a Fund could be required to make would be an amount equal to the notional amount of the agreement. This potential amount would be partially offset by any recovery value of the respective referenced obligation, or net amount received from the settlement of a buy protection credit default swap agreement entered into by a Fund for the same referenced obligation.

As the seller, a Fund may create economic leverage to its portfolio because, in addition to its total net assets, a Fund is subject to investment exposure on the notional amount of the swap. The interest fee paid or received on the swap, which is based on a specified interest rate on a fixed notional amount, is accrued daily as a component of unrealized appreciation (depreciation) and is recorded as realized gain upon receipt or realized loss upon payment. A Fund also records an increase or decrease to unrealized appreciation (depreciation) in an amount equal to the daily valuation. For centrally cleared swaps, the daily change in valuation is recorded as a receivable or payable for variation margin and settled in cash with the CCP daily. All upfront payments, if any, are amortized over the life of the swap as realized gains or losses. Those upfront payments that are paid or received, typically fornon-centrally cleared swaps, are recorded as other assets or other liabilities, respectively, net of amortization. For financial reporting purposes, unamortized upfront payments, if any, are netted with unrealized appreciation or depreciation on swaps to determine the market value of swaps. A Fund segregates assets in the form of cash or liquid securities in an amount equal to the notional amount of the credit default swaps of which it is the seller. A Fund segregates assets in the form of cash or liquid securities in an amount equal to any unrealized depreciation of the credit default swaps of which it is the buyer, marked to market on a daily basis. Credit default swaps involve greater risks than if a Fund had invested in the referenced debt obligation directly. If a Fund is a buyer of a credit default swap and no credit event occurs, a Fund will not earn any return on its investment. If a Fund is a seller of a credit default swap, a Fund’s risk of loss may be the entire notional amount of the swap. Swaps may also subject a Fund to the risk that the counterparty to the transaction may not fulfill its obligation. In the case of centrally cleared swaps, counterparty risk is minimal due to protections provided by the CCP.

Interest Rate Swaps Interest rate swaps involve the exchange by a Fund with another party of their respective commitments to pay or receive interest, such as an exchange of fixed rate payments for floating rate payments.

During the fiscal year ended December 31, 2018, the GE RSP Income Fund entered into interest rate swaps in order to manage exposure to interest rates.


40		Notes to Financial Statements

GE RSP Funds

Notes to Financial Statements, continued — December 31, 2018

The following tables summarize the value of the Fund’s derivative instruments as of December 31, 2018 and the related location in the accompanying Statements of Assets and Liabilities and Statements of Operations, presented by primary underlying risk exposure:

Asset Derivatives


	Interest Rate Contracts Risk		Foreign Exchange Contracts Risk		Credit Contracts Risk		Equity Contracts Risk		Commodity Contracts Risk		Total
GE RSP Income Fund
Futures Contracts	$	6,254,991	$	—	$	—	$	—	$	—	$	6,254,991
Swap Contracts		—		—		492,801		—		—		492,801

Liability Derivatives


	Interest Rate Contracts Risk			Foreign Exchange Contracts Risk		Credit Contracts Risk		Equity Contracts Risk		Commodity Contracts Risk		Total
GE RSP Income Fund
Swap Contracts	$	(2,552,179	)	$	—	$	—	$	—	$	—	$	(2,552,179	)

Realized Gain (Loss)


	Interest Rate Contracts Risk			Foreign Exchange Contracts Risk		Credit Contracts Risk			Equity Contracts Risk		Commodity Contracts Risk		Total
GE RSP Income Fund
Futures Contracts	$	(7,919,335	)	$	—	$	—		$	—	$	—	$	(7,919,335	)
Swap Contracts		3,140,820			—		(147,090	)		—		—		2,993,730
Purchased Option Contracts^(a)		(2,786,963	)		—		—			—		—		(2,786,963	)
Written Option Contracts		1,256,781			—		—			—		—		1,256,781

(a)

Purchased options are included in net realized gain (loss) from investments.

Net Change in Unrealized Appreciation (Depreciation)


	Interest Rate Contracts Risk			Foreign Exchange Contracts Risk		Credit Contracts Risk			Equity Contracts Risk		Commodity Contracts Risk		Total
GE RSP Income Fund
Futures Contracts	$	5,892,435		$	—	$	—		$	—	$	—	$	5,892,435
Swap Contracts		(1,951,910	)		—		(627,867	)		—		—		(2,579,777	)

Fees and Transactions with Affiliates

Advisory Fee SSGA FM, a registered investment adviser, was retained by the Board to act as investment adviser and administrator of each Fund. SSGA FM’s compensation for investment advisory and administrative services (“Management Fee”) is paid monthly based on the average daily net assets of each Fund. The Management Fee is stated in the following schedule:


Notes to Financial Statements			41

GE RSP Funds

Notes to Financial Statements, continued — December 31, 2018

Custody, Fund Accounting andSub-Administration Fees State Street Bank and Trust Company (“State Street”) serves as the custodian, fund accountant andsub-administrator to the Funds. Amounts paid by the Funds to State Street for performing such services are included custody, fund accounting andsub-administration fees on the Statements of Operations.

Investment Transactions

Purchases and sales of investments (excludingin-kind transactions, short term investments and derivative contracts) for the fiscal year ended December 31, 2018 were as follows:


	U.S. Government Securities				Non-U.S. Government Securities
Fund	Purchases		Sales		Purchases		Sales

GE RSP U.S. Equity Fund	$	—	$	—	$	2,089,394,963	$	2,616,854,962
GE RSP Income Fund		3,616,046,415		3,872,752,122		723,748,146		707,531,327

Income Taxes

The Funds have qualified and intend to continue to qualify as regulated investment companies under Subchapter M of the Internal Revenue Code of 1986, as amended. Each Fund will not be subject to federal income taxes to the extent it distributes its taxable income, including any net realized capital gains, for each fiscal year. Therefore, no provision for federal income tax is required.

The Funds file federal and various state and local tax returns as required. No income tax returns are currently under examination. Generally, the federal returns are subject to examination by the Internal Revenue Service for a period of three years from date of filing, while the state returns may remain open for an additional year depending upon jurisdiction. SSGA FM has analyzed each Fund’s tax positions taken on tax returns for all open years and does not believe there are any uncertain tax positions that would require recognition of a tax liability.

Distributions to shareholders are recorded onex-dividend date. Income dividends and gain distributions are determined in accordance with income tax rules and regulations, which may differ from generally accepted accounting principles. Certain capital accounts in the financial statements have been adjusted for permanent book- tax differences. These adjustments have no impact on net asset values or results of operations. Temporarybook-tax differences will reverse in the future. Thesebook-tax differences are primarily due to differing treatments for bond basis adjustments, swap contracts, futures contracts, foreign currency gains and losses, distributionre-designations, return of capital adjustments, and wash sale loss deferrals.

The tax character of distributions paid during the fiscal year ended December 31, 2018 was as follows:


Fund	Exempt Income		Ordinary Income		Long-Term Capital Gains		Return of Capital		Total

GE RSP U.S. Equity Fund	$	—	$	76,725,374	$	366,396,340	$	—	$	443,121,714
GE RSP Income Fund		—		62,721,395		—		—		62,721,395

The tax character of distributions paid during the year ended December 31, 2017 was as follows:


Fund	Exempt Income		Ordinary Income		Long-Term Capital Gains		Return of Capital		Total

GE RSP U.S. Equity Fund	$	—	$	189,794,874	$	450,025,725	$	—	$	639,820,599
GE RSP Income Fund		—		58,342,653		—		—		58,342,653

At December 31, 2018, the components of distributable earnings on a tax basis were as follows:


	Undistributed Ordinary Income		Capital Loss Carryforwards			Undistributed Long Term Gain		Net Unrealized Gains (Losses)			Total

GE RSP U.S. Equity Fund	$	530,630	$	—		$	—	$	549,122,273		$	549,652,903
GE RSP Income Fund		—		(50,687,800	)		—		(23,763,268	)		(74,451,068	)


42		Notes to Financial Statements

GE RSP Funds

Notes to Financial Statements, continued — December 31, 2018

As of December 31, 2018, the Funds had capital loss carryforwards available to offset future realized capital gains through the indicated expiration dates as follows:


Fund	Non-Expiring Short Term		Non-Expiring Long Term

GE RSP Income Fund	$	14,869,646	$	35,818,154

As of December 31, 2018, gross unrealized appreciation and gross unrealized depreciation of investments and other financial instruments based on cost for federal income tax purposes were as follows:


	Tax Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Net Unrealized Appreciation (Depreciation)

GE RSP U.S. Equity Fund	$	3,965,488,472	$	823,133,360	$	274,011,087	$	549,122,273
GE RSP Income Fund		1,978,081,681		17,829,591		37,434,016		(19,604,425	)

Risks

Concentration Risk As a result of the Funds’ ability to invest a large percentage of their assets in obligations of issuers within the same country, state, region, currency or economic sector, an adverse economic, business or political development may affect the value of the Funds’ investments more than if the Funds were more broadly diversified.

Interest Rate Risk Is the risk that fixed income securities will decline in value because of changes in interest rates. Bond prices generally rise when interest rates decline and generally decline when interest rates rise. Although governmental financial regulators, including the U.S. Federal Reserve, have taken steps to maintain historically low interest rates, the U.S. Federal Reserve has recently begun to raise interest rates and may continue to do so. Thus, the Funds currently faces a heightened level of interest rate risk.

Market and Credit Risk In the normal course of business, the Funds trade financial instruments and enter into financial transactions where risk of potential loss exists due to changes in the general economic conditions and fluctuations of the market (market risk). Additionally, the Funds may also be exposed to credit risk in the event that an issuer or guarantor fails to perform or that an institution or entity with which the Funds have unsettled or open transactions defaults.

Line of Credit

The Funds and other affiliated funds (each, a “Participant” and collectively, the “Participants”) participate in a $500 million revolving credit facility provided by a syndication of banks under which the Participants may borrow to fund shareholder redemptions. This agreement expires October 10, 2019 unless extended or renewed.

The Participants are charged an annual commitment fee which is calculated based on the unused portion of the shared credit line. Commitment fees are allocated among each of the Participants based on relative net assets. Commitment fees are ordinary fund operation expenses. A Participant incurs and pays the interest expense related to its borrowing. Interest is calculated at a rate per annum equal to the sum of 1% plus the greater of the New York Fed Bank Rate and1-month LIBOR rate.

The Funds had no outstanding loans as of December 31, 2018.

10.

New and Recent Accounting Pronouncements

In August 2018, the Securities and Exchange Commission released its Final Rule on Disclosure Update and Simplification (the “Final Rule”) which is intended to simplify an issuer’s disclosure compliance efforts by removing redundant or outdated disclosure requirements without significantly altering the mix of information provided to investors. The Funds have adopted the Final Rule for the current period with the most notable impacts being that the Funds are no longer required to present components of distributable earnings on the Statements of Assets and Liabilities or the sources of distributions to shareholders and the amount of undistributed net investment income on the Statements of Changes in Net Assets.

In March 2017, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”)No. 2017-08, Receivables — Nonrefundable Fees and Other Costs (Subtopic310-20): Premium Amortization on Purchased Callable Debt


Notes to Financial Statements			43

GE RSP Funds

Notes to Financial Statements, continued — December 31, 2018

Securities. The amendments in the ASU shorten the amortization period for certain callable debt securities, held at a premium, to be amortized to the earliest call date. The ASU does not require an accounting change for securities held at a discount; which continues to be amortized to maturity. The ASU is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2018. Management is currently evaluating the impact, if any, of applying this provision.

11.

Subsequent Events

Management has evaluated the impact of all subsequent events on the Funds through the date on which the financial statements were available to be issued and has determined that there were no subsequent events requiring adjustment or disclosure in the financial statements.


44		Notes to Financial Statements

GE RSP Funds

Report of Independent Registered Public Accounting Firm

LOGO

To the Board of Trustees and the Shareholders of

GE RSP U.S. Equity Fund and GE RSP Income Fund

Opinion on the Financial Statements

We have audited the accompanying statements of assets and liabilities of GE RSP U.S. Equity Fund and GE RSP Income Fund (each a“Fund” and collectively the“Funds”), including the schedules of investments, as of December 31, 2018, and the related statements of operations for the year then ended, the statements of changes in net assets for each of the years in the two-year period then ended and the financial highlights for each of the years in the three-year period then ended, and the related notes (collectively referred to as the“financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Funds as of December 31, 2018, and the results of their operations for the year then ended, the changes in their net assets for each of the years in the two-year period then ended and their financial highlights for each of the years in the three-year period then ended, in conformity with accounting principles generally accepted in the United States of America. The financial highlights for each of the years presented through December 31, 2015 were audited by other auditors, whose report dated February 22, 2016 expressed an unqualified opinion on those financial highlights.

Basis for Opinion

These financial statements are the responsibility of the Funds’ management. Our responsibility is to express an opinion on the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities law and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Funds are not required to have, nor were we engaged to perform, an audit of their internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Funds’ internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risk of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of December 31, 2018 by correspondence with the custodian and brokers, or by other appropriate auditing procedures where replies from brokers were not received. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

LOGO

BBD, LLP

We have served as the auditor of one or more of the Funds in General Electric RSP Funds since 2016.

Philadelphia, Pennsylvania

February 25, 2019


Report of Independent Registered Public Accounting Firm			45

GE RSP Funds

Tax Information — December 31, 2018 (Unaudited)

For federal income tax purposes, the following information is furnished with respect to the distributions paid from the Funds during the fiscal year ended December 31, 2018.

Dividends Received Deduction

The GE RSP U.S. Equity Fund reports the maximum amount allowable of its net taxable income as eligible for the corporate dividends received deduction.

Qualified Dividend Income

A portion of dividends distributed by the GE RSP U.S. Equity Fund during the fiscal year ended December 31, 2018 is considered qualified dividend income and are eligible for reduced tax rates. These lower rates range from 5% to 20% depending on the individual’s tax bracket. The GE RSP U.S. Equity Fund reports the maximum amount allowable of its net taxable income as qualified dividend income as provided in the Jobs and Growth Tax Relief Reconciliation Act of 2003.

Long Term Capital Gain Distributions

Long term capital gains dividends were paid from the GE RSP U.S. Equity Fund during the year ended December 31, 2018 in the amount of $366,396,340.


46		Tax Information

GE RSP Funds

Advisory Agreement Renewal (Unaudited)

Disclosure for the Boards of Trustees’ Consideration of the Renewal of the Investment Advisory and Administration Agreement with SSGA Funds Management, Inc.

At meetings of the Board of Trustees (each, a “Board” and together, the “Boards”) held on May��15, 2018 and June 7, 2018 (the “Board Meetings”), the members of the Board of each Fund considered and unanimously approved the continuance for an additional year of the investment advisory and administration agreement (the “Investment Advisory and Administration Agreement”) with SSGA Funds Management, Inc. (“SSGA FM” or the “Adviser”) on behalf of each Fund.

In considering whether to approve the continuance for an additional year of the Investment Advisory and Administration Agreement, the Board members considered and discussed a substantial amount of information and analysis provided by the Adviser. The Board members also considered detailed information regarding performance and expenses of other investment companies, including those with similar investment strategies and sizes, which was prepared by an independent third party provider, Broadridge Financial Solutions, Inc. (“Broadridge”). The Board members reviewed the fees charged by the Adviser for other mutual funds and investment products other than mutual funds that employ similar investment strategies as the Funds. The Board members had the opportunity to ask questions and request additional information in connection with its considerations.

Before approving the continuance of the Investment Advisory and Administration Agreement, the Board members reviewed the information provided with management of the Adviser. The Board members also reviewed a memorandum prepared by legal counsel discussing the legal standards for the consideration of the proposed continuance. The Board members discussed the proposed continuance of the Investment Advisory and Administration Agreement in detail during private sessions in advance of, and at, the Board Meetings at which no representatives of the Adviser were present. The Board members requested, and received and considered, additional information from the Adviser following the May 15, 2018 Board Meeting and prior to the June 7, 2018 Board Meeting.

In advance of the Board Meetings, and in response to their detailed requests, the Board members received from the Adviser written responses to their inquiries, which included substantial exhibits and other materials related to the Adviser’s business and the services it provides to each Fund. The Board members took into account their experience as Board members.

During the Board Meetings, the Board members had an opportunity to discuss this information with SSGA FM representatives, including senior executives, representatives from the legal, compliance and finance departments, and investment personnel. The Board members posed questions to these representatives and engaged in significant discussions.

In reaching their determinations relating to the continuance of the Investment Advisory and Administration Agreement, the Boards considered those factors they deemed relevant, including the factors discussed below. In their deliberations, the Boards did not identify any single factor that was dispositive and each Board member may have attributed different weights to the various factors. The Board members evaluated the information provided to them, as well as the presentations and discussions that occurred at the Board Meetings, for each Fund on aFund-by-Fund basis, and their determinations were made separately in respect of each Fund.

The material factors and conclusions that formed the basis for each Board’s determinations to approve the continuance of the Investment Advisory and Administration Agreement on behalf of each Fund are as discussed below.

The Nature, Extent and Quality of Services Provided.

The Board members reviewed the services provided by the Adviser. In connection with their consideration of the Adviser’s services, the Board members considered the Adviser’s management capabilities and investment process with respect to the types of investments held by each Fund, including the education, experience and number of investment professionals and other personnel who provide portfolio management, investment research, and similar services to each Fund. The Board members evaluated, where relevant, the abilities and experience of such investment personnel in analyzing particular markets, industries and specific issuers of securities in these markets and industries, as well as sector, credit quality and interest rate exposure (all as applicable). The Board members also considered the substantial expertise of the Adviser in developing and applying proprietary quantitative models for managing the Funds and the extensive experience and resources committed by the Adviser to the evaluation of the Funds’ portfolios. The Board members considered the extensive experience and resources committed by the Adviser to risk management, including with respect to investment risk, liquidity risk, operational risk, counterparty risk and model risk. The Board members also considered the significant risks assumed by the Adviser in connection with the services provided to the Funds, including operational, enterprise, regulatory, litigation and compliance risks. The Board members also took into account the compensation paid to recruit and retain investment personnel, and the time and attention devoted to the Funds by senior management.


Advisory Agreement Renewal			47

GE RSP Funds

Advisory Agreement Renewal (Unaudited), continued

The Board members had previously reviewed the compliance programs of SSGA FM and various affiliated service providers (“Affiliated Service Providers”). Among other things, the Board members considered compliance and reporting matters relating to personal trading by investment personnel, selective disclosure of portfolio holdings, late trading, frequent trading, portfolio valuation, business continuity, the allocation of investment opportunities and the voting of proxies.

In light of the foregoing and other relevant information, the Board members concluded that the services provided by the Adviser continue to be satisfactory.

Investment Performance.

The Board members considered the investment performance of each of the Funds for various periods. The Board members reviewed detailed comparisons of the performance of the Funds with the relevant securities indices and peer and category groupings of mutual funds prepared by Broadridge with respect to various periods. The Board members also engaged in detailed discussions with SSGA FM management about its investment processes and performance results. These discussions focused on each Fund’s investment objective, the number and experience of portfolio management and supporting research personnel, each Fund’s investment style and approach employed, the likely market cycles for each Fund’s investment style and, in some instances, relative underperformance of the GE RSP U.S. Equity Fund in certain periods and plans to seek to improve relative performance and the competitive performance of the GE RSP Income Fund for the 3 year and 5 year periods. The Board members discussed SSGA FM’s investment approach with respect to each of the Funds and the reasons for the GE RSP U.S. Equity Fund’s relative underperformance in certain periods.

Taking these factors into consideration, the Board members concluded that each Fund’s performance, or the Adviser’s explanation for relative underperformance and plans for improvement, as applicable, was acceptable overall.

Cost of the Services Provided And Profits Realized From The Relationships with the Funds.

The Board members considered the management fees paid to the Adviser by the Funds. The Board members reviewed the level of profits realized by the Adviser and the Affiliated Service Providers in providing investment advisory and other services to the Funds. Information also was presented regarding the financial condition of the Adviser for various past periods. The Board members also considered the Adviser’s statements concerning its significant investment in supporting registered investment companies. The Board members also considered the various risks borne by SSGA FM and the Affiliated Service Providers in connection with their various roles in servicing the Funds, including enterprise, litigation, business, operational and entrepreneurial risk.

The Board members concluded that the profitability of the Adviser and the profitability range of each of the Affiliated Service Providers with respect to its services to each of the Funds, were reasonable in relation to the services provided.

The Extent to Which Economies of Scale Would Be Realized as the Funds Grow and Whether Fee Levels Would Reflect Such Economies of Scale.

The Boards considered the extent to which the Adviser and the Affiliated Service Providers, on the one hand, and the Funds, on the other hand, can expect to realize benefits from economies of scale as the assets of the Funds increase. The Boards acknowledged the difficulty in accurately measuring the benefits resulting from the economies of scale with respect to the management of the Funds. The Boards concluded that, in light of, among other considerations, the current size of each of the Funds, the level of profitability of the Adviser and the Affiliated Service Providers with respect to the Funds, and/or the comparative management fees and expense ratios of the Funds, it does not appear that the Adviser or the Affiliated Service Providers has realized benefits from economies of scale in managing the assets of the Funds to such an extent that previously agreed management fees should be reduced or that breakpoints in such fees should be implemented for the Funds at this time.

Comparison of Services to be Rendered and Fees to be Paid.

The Boards discussed the services provided to the Funds by the Adviser and the fees charged to the Funds for those services. As part of its review, each Board considered each Fund’s management fee and total expense ratio, including the portion attributable to administrative services provided by SSGA FM, as compared to the expense ratios of a group of comparable mutual funds selected by Broadridge, and the related Broadridge analysis for the Funds. The Boards also considered the comparability of the fees charged and the services provided to the Funds by the Adviser to the fees charged and services provided to other clients of the Adviser.


48		Advisory Agreement Renewal

GE RSP Funds

Advisory Agreement Renewal (Unaudited), continued

Among other information, the Board members considered that each Fund’s expense ratios and advisory fee were the lowest or among the lowest in the applicable Broadridge peer group ranges. The Boards also considered the Funds’ comparatively lower historical fee structure overall relative to advisers of other comparable industry peer group funds and noted that the Funds have generally benefitted from not having a high management fee rate since their inception.

In light of the foregoing, the Boards determined that the management fees, considered in relation to the services provided to the Funds, supported the Boards’ approval of the continuance of the Investment Advisory and Administration Agreement.

Fall-Out Benefits.

The Boards considered actual and potential financial benefits that the Adviser may derive from its relationships with the Funds, including the custody, fund accounting andsub-administration services being provided to the Funds by an affiliate of the Adviser and, to the extent applicable, soft dollar commission benefits generated through Fund portfolio transactions. The Boards noted, however, that each Fund benefits from the vast array of resources available through SSGA FM, and that each Fund represents only a small portion of the assets managed by SSGA FM.

Conclusion.

No single factor was determinative to the Boards’ decision. Based on their discussion and such other matters as were deemed relevant, the Board members approved the continuance of the Investment Advisory and Administration Agreement for the Funds.


Advisory Agreement Renewal			49

GE RSP Funds

Additional Information — December 31, 2018 (Unaudited)

Name,
Address
and Age

Position(s) Held
with Fund

Term of
Office and
Length of
Time Served

Principal Occupation(s)
During Past 5 years

Number of
Portfolios
in Fund
Complex
Overseen
by Trustee

Other Directorships
Held by Trustee/Officer

INTERESTED TRUSTEES

Matthew Zakrzewski

c/o SSGA Funds Management, Inc.

1600 Summer St.

Stamford, CT 06905

YOB: 1960

Chairman of the Board of Trustees

Term: Indefinite

Served: Since
2013

Managing Director, Benefit Plans since July 2016; Executive Vice President and Chief Financial Officer of GEAM from August 2013 to June 2016; formerly, Chief Financial Officer for GE Ventures from 2012 to 2013 and Chief Financial Officer for GE Risk, Insurance and Corporate Financing from 2006 to 2012.

GE Asset Management Limited; GE Investment Distributors, Inc. (“GEID”); GE Pension Trust Limited; Common Investment Fund.

Scott Silberstein

c/o SSGA Funds Management, Inc.

1600 Summer St.

Stamford, CT 06905

YOB: 1964

Trustee

Term: Indefinite

Served: Since July 2016

Executive Counsel, GE since 2016; Senior Vice President & Deputy General Counsel of GEAM from 1995 – 2016.

GEAM; GE Asset Management Limited; GE International Management Incorporated; GE International Management II Incorporated; GEID.

Gregory Bouleris

c/o SSGA Funds Management, Inc.

1600 Summer St.

Stamford, CT 06905

YOB: 1966

Trustee

Term: Indefinite

Served: Since July 2016

Investment Oversight Leader, GE since 2016; Multi-Manager Programs Leader from 2015 – 2016; Senior Vice-President Product Management 2008 – 2015.

GEID.

Vaidheesh Krishnamurti

c/o SSGA Funds Management, Inc.

1600 Summer St.

Stamford, CT 06905

YOB: 1966

Trustee

Term: Indefinite

Served: Since July 2016

Chief Financial Officer of Benefit Plans since May 2016; Manager, Financial Planning and Analysis at GEAM from December 2014 to May 2016; Manager, Investment Performance at GEAM from May 2012 to December 2014; Operational Controller/Senior Analyst at GEAM from June 2008 to May 2012.

Pamela Westmoreland

c/o SSGA Funds Management, Inc.

1600 Summer St.

Stamford, CT 06905

YOB: 1958

Trustee

Term: Indefinite

Served: Since July 2016

Senior Vice President and Risk and Asset Allocation Leader at GEAM from 2016 to present; Head of Fixed Income Credit Research at GEAM from 2013 to 2016; Fixed Income Strategist from 2012 to 2013; Team Leader, Fixed Income Research from 2007 to 2012.


50		Additional Information

GE RSP Funds

Additional Information, continued — December 31, 2018 (Unaudited)

Name,
Address
and Age

Position(s) Held
with Fund

Term of
Office and
Length of
Time Served

Principal Occupation(s)
During Past 5 years

Number of
Portfolios
in Fund
Complex
Overseen
by Officer

Other Directorships
Held by Officer

EXECUTIVE OFFICERS

Ellen M. Needham

SSGA Funds Management, Inc.

One Iron Street

Boston, MA 02210

YOB: 1967

President

Term: Indefinite Served: Since September 2018

President and Director, SSGA FM (2001 – present)*; Senior Managing Director, State Street Global Advisors (1992 – present)*; Director, State Street Global Advisors Funds Distributors, LLC (May 2017 – present).*

N/A

Arthur A. Jensen

SSGA Funds Management, Inc.

1600 Summer Street

Stamford, CT 06905

YOB: 1966

Treasurer

Term: Indefinite Served: Since June 2011

Vice President, State Street Global Advisors and SSGA Funds Management, Inc. (July 2016 – present); Deputy Treasurer of Elfun Funds (July 2016 – present); Treasurer of State Street Institutional Funds, State Street Variable Insurance Series Funds, Inc. and GE Retirement Savings Plan Funds (June 2011 – present); Treasurer of Elfun Funds (June 2011– July 2016); Mutual Funds Controller of GE Asset Management Incorporated (April 2011 – July 2016).

N/A

Brian Harris

SSGA Funds Management, Inc.

One Iron Street

Boston, MA 02210

YOB: 1973

Chief Compliance Officer and Anti-Money Laundering Officer

Term: Indefinite Served: Since December 2016

Managing Director, State Street Global Advisors and SSGA Funds Management, Inc. (2013 – Present); Senior Vice President and Global Head of Investment Compliance, BofA Global Capital Management (September 2010 – May 2013).

N/A

Bruce S. Rosenberg SSGA Funds Management, Inc.

One Iron Street

Boston, MA 02210

YOB: 1961

Assistant Treasurer

Term: Indefinite

Served: Since March 2017

Managing Director, State Street Global Advisors and SSGA Funds Management, Inc. (July 2015 – present); Director, Credit Suisse (April 2008 – July 2015).

N/A

Ann M. Carpenter SSGA Funds Management, Inc.

One Iron Street

Boston, MA 02210

YOB: 1966

Assistant Treasurer

Term: Indefinite

Served: Since March 2017

Chief Operating Officer, SSGA Funds Management, Inc. (April 2005 – present)*; Managing Director, State Street Global Advisors. (2005 – present).*

N/A


Additional Information			51

GE RSP Funds

Additional Information, continued — December 31, 2018 (Unaudited)

Name,
Address
and Age

Position(s) Held
with Fund

Term of
Office and
Length of
Time Served

Principal Occupation(s)
During Past 5 years

Number of
Portfolios
in Fund
Complex
Overseen
by Officer

Other Directorships
Held by Officer

EXECUTIVE OFFICERS (continued)

Chad C. Hallett SSGA Funds Management, Inc.

One Iron Street

Boston, MA 02210

YOB: 1969

Assistant Treasurer

Term: Indefinite

Served: Since March 2017

Vice President, State Street Global Advisors and SSGA Funds Management, Inc. (November 2014 – present); Vice President, State Street Bank and Trust Company (2001 – November 2014).*

N/A

Darlene Anderson-Vasquez SSGA Funds Management, Inc.

One Iron Street

Boston, MA 02210

YOB: 1968

Assistant Treasurer

Term: Indefinite

Served: Since March 2017

Managing Director, State Street Global Advisors and SSGA Funds Management, Inc. (May 2016 – present); Senior Vice President, John Hancock Investments (September 2007 – May 2016).

N/A

Daniel G. Plourde

SSGA Funds Management, Inc.

One Iron Street

Boston, MA 02210

YOB: 1980

Assistant Treasurer

Term: Indefinite

Served: Since June 2017

Vice President, State Street Global Advisors and SSGA Funds Management, Inc. (May 2015 – present); Officer, State Street Bank and Trust Company (March 2009 – May 2015).

N/A

Jesse D. Hallee

State Street Bank and Trust Company

100 Summer Street, Floor 7

Mail Stop SUM0703

Boston, MA 02111

YOB: 1976

Secretary

Term: Indefinite

Served: Since March 2017

Vice President and Managing Counsel, State Street Bank and Trust Company (2013 – present); Vice President and Counsel, Brown Brothers Harriman & Co. (2007 – 2013).

N/A

*	Served in various capacities and/or with various affiliated entities during noted time period.


52		Additional Information

GE RSP Funds

Investment Team

Investment Adviser

SSGA Funds Management, Inc.

Board of Trustees

Matthew Zakrzewski,Chairman

Scott Silberstein

Gregory Bouleris

Pamela Westmoreland

Vaidheesh Krishnamurti

Portfolio Managers

GE RSP U.S. Equity Fund

David B. Carlson

Paul Nestro

Christopher Sierakowski

GE RSP Income Fund

Matthew Nest

Mark H. Johnson

Independent Registered Public Accounting Firm

BBD, LLP

Custodian

State Street Bank & Trust Company

Shareholder Servicing Agent

Address all inquiriesinside the Plan to:

GE Retirement Savings Plan Service Center

c/o Fidelity Investments

P.O. Box 770003

Cincinnati, OH 45277-0065

Address all inquiriesoutside the Plan to:

GE RSP Mutual Funds

U.S. Bancorp Fund Services, LLC

P.O. Box 701

Milwaukee, WI 53201-0701


Investment Team			53

GE RSP Funds

Shareholder Services

INSIDE THE RETIREMENT SAVINGS PLAN

Shares or units heldinside the Plan have been credited to your account as a result of contributions and investment earnings. For a statement summarizing your account balance in the Plan, please refer to your GE RSP Retirement Savings Statement, which is provided quarterly and is available online at any time or upon request. You may obtain additional information and process transactions on investments heldinside the Plan by calling:

GE Retirement Savings Plan Service Center: 1-877-55-GERSP (1-877-554-3777)

or visitOneHR.ge.com > Retirement (or RSP) > My GE RSP

OUTSIDE THE RETIREMENT SAVINGS PLAN

If shares of the GE RSP U.S. Equity and the GE RSP Income Funds have been distributed to you from the Plan, information on these investments may be obtained by calling:

SSGA Funds Management, Inc.: 1-800-242-0134

or visitwww.ssga.com/geam


54		Shareholder Services

GE RSP Funds

1600 Summer Street

Stamford, CT 06905

Or at:

PO Box 7900

Stamford, CT 06904-7900

www.ssga.com/geam

Proxy Voting Policies and Procedures and Record

The Funds have adopted the proxy voting policies of SSGA FM. A description of the policies and procedures that the Funds have adopted to determine how to vote proxies relating to portfolio securities is available (i) without charge, upon request, by calling 1-800-242-0134, (ii) on the Funds’ website at http://www.ssga.com/geam, and (iii) on the SEC’s website at www.sec.gov. Information regarding how the Funds voted proxies, if any, during the most recent 12-month period ended June 30 is available by August 31 of each year without charge (1) by calling 1-800-242-0134 (toll free), and (2) on the website of the SEC at www.sec.gov.

Quarterly Portfolio Schedule

The Funds file their complete schedules of investments with the SEC for the first, second and third quarters of each fiscal year on Form N-Q. For the fourth quarter, the complete schedules of investments are available in the Funds’ annual financial statements. The Funds’ Forms N-Q are available (i) without charge, upon request, by calling 1-800-242-013, (ii) on the Funds’ website at http://www.ssga.com/geam, and (iii) on the SEC’s website at www.sec.gov.

Item 2. Code of Ethics.

As of the end of the period covered by this report, General Electric RSP U.S. Equity Fund (the “Registrant” or the “Fund”) has adopted a code of ethics, as defined in Item 2(b) of FormN-CSR, that applies to the Registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the Registrant or a third party (the “Code”). That Code comprises written standards that are reasonably designed to deter wrongdoing and to promote: (1) honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships; (2) full, fair, accurate, timely and understandable disclosure in reports and documents that the Registrant files with, or submits to, the U.S. Securities Exchange Commission (the “SEC”) and in other public communications made by the Registrant; (3) compliance with applicable laws and governmental rules and regulations; (4) the prompt internal reporting to an appropriate person or persons identified in the Code of violations of the Code; and (5) accountability for adherence to the Code. The Registrant has not made any amendments to the Code that relates to any element of the code of ethics definition set forth in Item 2(b) of FormN-CSR during the covered period. The Registrant has not granted any waivers from any provisions of the Code during the covered period. A copy of the Code is filed as Exhibit 13(a)(1) to this FormN-CSR.

Item 3. Audit Committee Financial Expert.

The Fund’s Board of Trustees (the “Board”) has determined that the Fund has the following “audit committee financial experts” as defined in Item 3(b) of FormN-CSR serving on its audit committee (the “Audit Committee”): Mr. Matthew Zakrzewski and Mr. Vaidheesh Krishnamurti. Each of the “audit committee financial experts” are deemed to be “interested persons” of the Registrant as defined in Section 2(a)(19) of the Investment Company Act of 1940, as amended (the “1940 Act”) (15 U.S.C.80a-2(a)(19)).

An “audit committee financial expert” is not an “expert” for any purpose, including for purposes of Section 11 of the Securities Act of 1933, as amended, as a result of being designated as an “audit committee financial expert.” Further, the designation of a person as an “audit committee financial expert” does not mean that the person has any greater duties, obligations, or liability than those imposed on the person without the “audit committee financial expert” designation. Similarly, the designation of a person as an “audit committee financial expert” does not affect the duties, obligations, or liability of any other member of the Audit Committee or the Board.

Item 4. Principal Accountant Fees and Services.

(a)

Audit Fees

For the fiscal years ended December 31, 2018 and December 31, 2017, the aggregate audit fees billed for professional services rendered BBD, LLP (“BBD”), the Registrant’s principal accountant, for the audit of the Registrant’s annual financial statements, or services that are normally provided by BBD in connection with the Registrant’s statutory and regulatory filings and engagements were $19,000 and $23,000, respectively.

(b)

Audit-Related Fees

For the fiscal years ended December 31, 2018 and December 31, 2017, there were no fees for assurance and related services by BBD reasonably related to the performance of the audit of the Fund’s financial statements that were not reported under paragraph (a) of this Item.

(c)

Tax Fees

For the fiscal years ended December 31, 2018 and December 31, 2017, there were no fees for professional services rendered by BBD for tax compliance, tax advice or tax planning.

(d)

All Other Fees

For the fiscal years ended December 31, 2018 and December 31, 2017, there were no fees billed for professional services rendered by BBD for products and services provided by BBD to the Fund, other than the services reported in paragraphs (a) through (c). The fees billed for Security Counts under Rule17f-2, which were previously reported under paragraph (d) this Item, are now reported under paragraph (a) of this Item.

(e)(1)

Audit CommitteePre-Approval Policies and Procedures

The Audit Committee of the General Electric RSP Funds (the “Funds”) Board of Trustees is responsible for, among other things, the appointment, compensation and oversight of the work of the Funds’ Auditor. As part of this responsibility and to ensure that the Auditor’s independence is not impaired, the Audit Committee(1) pre-approves the audit andnon-audit services provided to the Funds by the Auditor, and (2) allnon-audit services provided to the Funds’ investment adviser and Covered Affiliates (as defined in the Audit Committee Charter) that provide ongoing services to the Funds if the services directly impact the Funds’ operations or financial reporting, in accordance with the Audit Committee Charter. The following excerpt from the Audit Committee Charter sets forth thepre-approval policies and procedures:

Pre-Approval of Audit Related Services and PermissibleNon-Audit Services. The Audit Committee shallpre-approve both audit (including audit, review, and attest) services and permissiblenon-audit services provided to the Fund and, if the nature of the engagement relates directly to the operations and financial reporting of the Fund, permissiblenon-audit services provided to any Covered Affiliate.

The Audit Committee may determine to delegate the authority to grantpre-approvals to one or more Audit Committee members, each acting on behalf of the Audit Committee. In this event, the member of the Audit Committee so delegated shall report each delegatedpre-approval to the Audit Committee at its next regularly scheduled meeting. The Audit Committee may also adopt and follow, in lieu of explicitpre-approval described above, written policies and procedures detailed as to the particular service, designed to safeguard the continued independence of the Auditor, consistent with the requirements of the 1940 Act and SEC regulations thereunder.

Notwithstanding the foregoing, thepre-approval requirement concerning permissiblenon-audit services provided to the Fund or any Covered Affiliate is waived if: (1) the aggregate amount of all suchnon-audit services provided constitutes no more than five percent (5%) of the total amount of revenues paid to the Auditor by the Fund and the Covered Affiliates during the fiscal year in which the services are provided that would have to bepre-approved by the Audit Committee, (2) thenon-audit services were not recognized asnon-audit services at the time of the engagement, and (3) suchnon-audit services are promptly brought to the attention of the Audit Committee and approved by the Audit Committee or one or more designated members of the Audit Committee prior to the completion of the audit.

(e)(2)

Percentages of Services

None of the services described in paragraphs (b) through (d) of this Item were performed in reliance on paragraph (c)(7)(i)(C) of Rule2-01 of RegulationS-X during the period of time for which such rule was effective.

(f)

Not applicable.

(g)

Total Fees Paid By Adviser and Certain Affiliates

For the fiscal years ended December 31, 2018 and December 31, 2017, the aggregatenon-audit fees billed by BBD for services rendered to the Fund and SSGA Funds Management, Inc. (“SSGA FM” or the “Adviser”) and any entity controlling, controlled by, or under common control with the Adviser that provided ongoing services to the Funds were $0 and $0, respectively.

(h)

BBD notified the Fund’s Audit Committee of allnon-audit services that were rendered by BBD to the Adviser and any entity controlling, controlled by, or under common control with BBD that provides services to the Fund, which services were not required to bepre-approved pursuant to paragraph (c)(7)(ii) of Rule2-01 of RegulationS-X, allowing the Fund’s Audit Committee to consider whether such services were compatible with maintaining BBD’s independence.

Item 5. Audit Committee of Listed Registrants.

Not applicable to the Registrant.

Item 6. Investments.

(a) Schedule of Investments is included as part of the report to shareholders filed under Item 1 of this FormN-CSR.

(b) Not applicable to the Registrant.

Item 7. Disclosure of Proxy Voting Policies and Procedures forClosed-End Management Investment Companies.

Not applicable to the Registrant.

Item 8. Portfolio Managers ofClosed-End Management Investment Companies.

Not applicable to the Registrant.

Item 9. Purchases of Equity Securities byClosed-End Management Investment Company and Affiliated Purchasers.

Not applicable to the Registrant.

Item 10. Submission of Matters to a Vote of Security Holders.

There were no material changes to the procedures by which shareholders may recommend nominees to the Registrant’s Board.

Item 11. Controls and Procedures.

(a) The Registrant’s principal executive officer and principal financial officer have concluded that the Registrant’s disclosure controls and procedures (as defined in Rule30a-3(c) under the 1940 Act) are effective to provide reasonable assurance that information required to be disclosed by the Registrant on FormN-CSR is recorded, processed, summarized and reported as of a date within 90 days of the filing date of this report, based on their evaluation of these controls and procedures required by Rule30a-3(b) under the 1940 Act and Rules13a-15(b) or15d-15(b) under the Securities Exchange Act of 1934, as amended.

(b) There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule30a-3(d) under the 1940 Act) that occurred during the Registrant’s last fiscal quarter of the period covered by this FormN-CSR filing that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

Item 12.Disclosure of Securities Lending Activities forClosed-End Management Investment Companies.

(a) Not applicable to the Registrant.

(b) Not applicable to the Registrant.

Item 13. Exhibits.


(a)(1)		Code of Ethics pursuant to Item 2 of FormN-CSR is attached hereto.

(a)(2)		Certifications of principal executive officer and principal financial and accounting officer of the Registrant as required byRule 30a-2(a) under the 1940 Act are attached hereto.

(a)(3)		Not applicable to the Registrant.

(a)(4)		Not applicable.

(b)		Certifications of principal executive officer and principal financial and accounting officer of the Registrant as required byRule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Registrant: GENERAL ELECTRIC RSP U.S. EQUITY FUND


By:		/s/ Ellen M. Needham
		Ellen M. Needham
		President

Date:		March 6, 2019

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.


By:		/s/ Ellen M. Needham
		Ellen M. Needham
		President (Principal Executive Officer)

Date:		March 6, 2019


By:		/s/ Arthur A. Jensen
		Arthur A. Jensen


		Treasurer (Principal Financial and Accounting Officer)

Date:		March 6, 2019

Average Daily
Net Assets of Fund

Management Fee

GE RSP U.S. Equity Fund

All Assets

GE RSP Income Fund

All Assets