Form 11-K

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 11-K
 
Annual Report Pursuant to Section 15(d) of the
Securities Exchange Act of 1934
(Mark One)
 
þ Annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934 (No Fee Required)
 
For the fiscal year ended December 31, 2004
 
OR
 
¨ Transition report pursuant to Section 15(d) of the Securities Exchange Act of 1934 (No Fee Required)
 
For the transition period from ___to ___
 
Commission file number 1-35
 
A. Full title of the plan and the address of the plan, if different from that of the issuer named below:
 
GE Savings and Security Program
 
B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
 
General Electric Company
3135 Easton Turnpike
Fairfield, Connecticut 06828-0001





Required Information
 

   
Page
Number(s)
     
A.
Financial Statements and Schedule: 
 
     
 
Report of Independent Registered Public Accounting Firm
3
     
 
Financial Statements:
 
 
Statements of Net Assets Available for Plan Benefits as of December 31, 2004 and 2003
4
     
 
Statements of Changes in Net Assets Available for Plan Benefits
for the Years Ended December 31, 2004 and 2003
5
     
 
Notes to Financial Statements
6-11
     
 
Supplemental Schedule:
 
 
Schedule H, Line 4i - Schedule of Assets (Held at End of Year) as of December 31, 2004
12-21
 
 
 
B.
Exhibits
 
 
 
 
 
23
Consent of Independent Registered Public Accounting Firm
 
   
 
 
 
99(a)
GE S&S Program Mutual Funds 2004 Annual Report (incorporated by reference to the General Electric S&S Program Mutual Fund Form N-CSR for the year ended December 31, 2004, as filed with the Commission on March 8, 2005)
 
   
 
 
 
99(b)
GE Institutional International Equity Fund 2003 Annual Report (incorporated by reference to the GE Institutional Funds Form N-CSR for the year ended September 30, 2004, as filed with the Commission on December 3, 2004)
 
   
 
 
 
99(c)
GE Institutional Small-Cap Value Equity Fund 2003 Annual Report (incorporated by reference to the GE Institutional Funds Form N-CSR for the year ended September 30, 2004, as filed with the Commission on December 3, 2004)
 
   
 
 
 
99(d)
GE Institutional Strategic Investment Fund 2003 Annual Report (incorporated by reference to the GE Institutional Funds Form N-CSR for the year ended September 30, 2004, as filed with the Commission on December 3, 2004)
 




Signatures
 
The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.
 
     
GE Savings and Security Program
     
(Name of Plan)
     
 
       
       
Date:
June 14, 2005
 
/s/ Philip D. Ameen
     
Philip D. Ameen
Vice President and Comptroller


 



 
GE SAVINGS AND SECURITY PROGRAM
 
Financial Statements and Supplemental Schedule
 
December 31, 2004 and 2003
 
(With Independent Registered Public Accounting Firm’s Report Thereon)
 

 


GE SAVINGS AND SECURITY PROGRAM
 
December 31, 2004 and 2003
 
Table of Contents
 



 
Page
Number(s)
   
Report of Independent Registered Public Accounting Firm
3
   
Financial Statements:
 
Statements of Net Assets Available for Plan Benefits
as of December 31, 2004 and 2003
4
   
Statements of Changes in Net Assets Available for Plan Benefits
for the Years Ended December 31, 2004 and 2003
5
   
Notes to Financial Statements
6-11
   
Supplemental Schedule: (i)
 
Schedule H, Line 4i - Schedule of Assets (Held at End of Year)
as of December 31, 2004
12-21


 
 

(i) Schedules required by Form 5500 that are not applicable have not been included.

 
– 2 –


 
Report of Independent Registered Public Accounting Firm



General Electric Company, as Administrator
GE Savings and Security Program:

We have audited the accompanying statements of net assets available for plan benefits of GE Savings and Security Program (the Plan) as of December 31, 2004 and 2003, and the related statements of changes in net assets available for plan benefits for the years then ended. These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for plan benefits of the Plan as of December 31, 2004 and 2003, and the changes in net assets available for plan benefits for the years then ended in conformity with U.S. generally accepted accounting principles.

Our audits were made for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedule H, line 4i - schedule of assets (held at end of year) as of December 31, 2004 is presented for the purpose of additional analysis and is not a required part of the basic financial statements but is supplementary information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. This supplemental schedule is the responsibility of the Plan’s management. The supplemental schedule has been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements taken as a whole.




/s/ KPMG LLP
June 8, 2005

 
– 3 –


GE SAVINGS AND SECURITY PROGRAM
 
Statements of Net Assets Available for Plan Benefits
 
December 31, 2004 and 2003
 
(in thousands)
 



Assets
 
2004
 
2003
 
           
Investments at fair value (note 3)
 
$
24,990,843
 
$
21,706,484
 
Accrued dividends and interest
   
98,061
   
90,926
 
Other assets
   
432
   
11,280
 
Total assets
   
25,089,336
   
21,808,690
 
               
Liabilities
             
               
Liability for collateral deposits (note 3)
   
273,023
   
122,125
 
Other liabilities
   
10,535
   
4,433
 
Total liabilities
   
283,558
   
126,558
 
               
Net assets available for plan benefits
 
$
24,805,778
 
$
21,682,132
 


 



See accompanying notes to financial statements.
 

 
– 4 –


GE SAVINGS AND SECURITY PROGRAM
 
Statements of Changes in Net Assets Available for Plan Benefits
 
Years Ended December 31, 2004 and 2003
 
(in thousands)
 



   
2004
 
2003
 
           
Additions to net assets attributed to:
             
Investment income:
             
Net appreciation in fair value of
investments (note 3)
 
$
2,721,303
 
$
3,544,086
 
               
Interest and dividend income:
             
General Electric Company Common Stock
   
376,437
   
352,212
 
Registered investment companies
   
193,152
   
128,607
 
Interest
   
75,790
   
75,130
 
     
3,366,682
   
4,100,035
 
Contributions:
             
Employee
   
933,172
   
855,830
 
Employer
   
310,747
   
290,016
 
     
1,243,919
   
1,145,846
 
               
Total additions
   
4,610,601
   
5,245,881
 
               
Deductions from net assets attributed to:
             
Participant withdrawals
   
1,486,955
   
1,249,678
 
               
Net increase
   
3,123,646
   
3,996,203
 
               
Net assets available for plan benefits:
             
Beginning of year
   
21,682,132
   
17,685,929
 
               
End of year
 
$
24,805,778
 
$
21,682,132
 




 



See accompanying notes to financial statements.
 

 
– 5 –


GE SAVINGS AND SECURITY PROGRAM
 
Notes to Financial Statements
 
December 31, 2004 and 2003
 
(1)
Description of the Plan
 
GE Savings and Security Program (the “Plan”) is a defined contribution plan sponsored by General Electric Company. The Plan is subject to applicable provisions of the Employee Retirement Income Security Act of 1974 (“ERISA”). The Trustees of the GE Savings and Security Trust are officers of GE Asset Management Incorporated (“GEAM”), a wholly owned subsidiary of General Electric Company. GEAM is investment adviser to each of the Plan’s investment options, except General Electric Company Common Stock, Vanguard Institutional Index Fund and the United States Savings Bonds. State Street Corporation and The Bank of New York are the primary custodians for Plan assets.
 
The following description of the Plan is provided for general information purposes only. The complete terms of the Plan are provided in the GE Savings and Security Program document (the “Plan Document”). Information concerning the Plan, including benefits, investment options, vesting provisions and effects of plan termination is included in plan handbooks and other material distributed to participants.
 
Employee Contributions and Investment Options
 
Eligible employees of General Electric Company and its participating affiliates may participate in the Plan by investing a portion of their earnings (generally up to 7% with employer partial matching and an additional 23% without any employer matching) in one or more of the following investment options generally through a trust established to administer the investment of program funds:
 
 
(a)
General Electric Company Common Stock (“GE Common Stock”).
 
 
(b)
GE S&S Income Fund (the “Income Fund”) - a registered investment company that invests primarily in a variety of investment grade debt securities with a weighted average maturity that is normally about five to ten years.
 
 
(c)
GE S&S Program Mutual Fund (the “Mutual Fund”) - a registered investment company that invests primarily in equity securities of U.S. companies.
 
 
(d)
GE Institutional International Equity Fund (the “International Fund”) - a registered investment company that invests primarily in equity securities of companies in countries other than the U.S.
 
 
(e)
GE Institutional Small-Cap Value Equity Fund (the “Small Cap Fund”) - a registered investment company that invests primarily in equity securities of small-cap U.S. companies (those with market capitalizations in the same range as the companies in the Russell 2000 Index).
 
 
(f)
GE Institutional Strategic Investment Fund (the “Strategic Investment Fund”) - a registered investment company that invests primarily in a combination of equity securities (U.S. and Non-U.S.) and investment grade debt securities.
 
 
(g)
Vanguard Institutional Index Fund (the “Index Fund”) - a registered investment company that employs a passive management strategy designed to track the performance of the Standard and Poor’s 500 Index, which is composed primarily of equity securities of large U.S. companies.
 

 
– 6 –


GE SAVINGS AND SECURITY PROGRAM
 
Notes to Financial Statements
 
December 31, 2004 and 2003
 
 
(h)
GE S&S Short-Term Interest Fund (the “Short Term Fund”) - invests primarily in a variety of investment grade debt securities with a weighted average maturity that is normally not more than three years.
 
 
(i)
GE S&S Money Market Fund (the “Money Market Fund”) - invests primarily in short-term, U.S. dollar denominated money market instruments and other debt instruments that mature in one year or less.
 
 
(j)
United States Savings Bonds (the “U.S. Bond Fund”) - consists of individual participants’ investments in Series “EE” Savings Bonds issued by the U.S. Treasury, which mature in 30 years. Pending accumulation of sufficient individual funds, investments are made in short-term money market instruments. Only participant after-tax contributions may be invested in the U.S. Bond Fund.
 
Audited financial statements and prospectuses or other disclosure documents of the registered investment companies are distributed annually to participants.
 
Participants may elect, up to twenty-four times a year, to switch their investments from one investment option to another or split the amount equally between two other investment options. Prior to September 2, 2003, the maximum number of switches allowed annually was twelve. The U.S. Bond Fund does not accept switches from other investment options and U.S. Savings Bonds purchased with after-tax contributions after 1988 cannot be switched to another investment.
 
The Internal Revenue Code sets out maximum limits on participant pre-tax contributions. The limit was generally $13,000 and $12,000 for 2004 and 2003, respectively.
 
Employer Contributions
 
The Plan generally provides for employer matching contributions of 50% of employees’ contributions of up to 7% of their earnings, which may be invested at the election of the participant in any one of the investment options except for the U.S. Bond Fund.
 
Rollovers and Transfers from Other Qualifying Plans
 
Subject to General Electric Company approval, participants may elect to roll over amounts from other qualifying plans or arrangements in accordance with the Internal Revenue Code. For the years ended December 31, 2004 and 2003, transfers from other qualifying plans or arrangements accounted for $54.2 million and $43.8 million, respectively, which are included in employee contributions in the Statements of Changes in Net Assets Available for Plan Benefits.
 
Withdrawals
 
Subject to certain limitations prescribed by the Plan and the Internal Revenue Code, terminated participants may elect retirement or other termination withdrawals in either lump sum or partial payments and currently employed participants may make up to seven withdrawals per year or certain hardship withdrawals from
 

 
– 7 –


GE SAVINGS AND SECURITY PROGRAM
 
Notes to Financial Statements
 
December 31, 2004 and 2003
 
their participant accounts. Partial payments on termination are generally limited to four per year and a minimum of $500 each.
 
Loans to Participants
 
The Plan permits participants, under certain circumstances, to borrow a minimum of $500 from their participant accounts. Subject to certain Internal Revenue Code and Plan limits, such loans cannot exceed the lesser of 50% of the participant’s available account value, as defined in the Plan Document, or $50,000, adjusted for prior loans. The interest rate applicable to participant loans is based on the monthly average of the composite yield on corporate bonds, as published by Moody’s Investors Service.
 
A participant may have no more than two outstanding loans from the Plan at any time and may not obtain more than one such loan during any calendar year.
 
Loans are repaid with interest in equal payments over the term of the loan by payroll deductions, personal check or other such methods as may be required. Participants may repay the entire principal amount by check with written notice and without penalty beginning three months after the date of the loan.
 
In the event of a loan default, the Plan will report the outstanding loan balance as a withdrawal.
 
Participant Accounts
 
Each participant’s account is credited with the participant’s contributions and allocation of (a) employer matching contributions and (b) earnings. The benefit to which a participant is entitled is the value of the participant’s vested account.
 
Vesting
 
Participants are fully vested in their employee and employer contributions.
 
Plan Termination and Amendment
 
Although General Electric Company has not expressed any intent to do so, it has the right under the Plan to the extent permitted by law to discontinue its contributions, and to terminate the Plan in accordance with the provisions of ERISA. If the Plan is terminated, each participant’s interest will be payable in full according to the Plan provisions. General Electric Company also has the right under the Plan to the extent permitted by law to amend or replace it for any reason.
 
Administrative and Investment Advisory Costs
 
Administrative costs of the Plan and investment advisory costs for the Short Term Fund and the Money Market Fund are generally borne by General Electric Company. For the registered investment companies, investment advisers are reimbursed for costs incurred or receive a management fee for providing investment advisory services. These reimbursed costs and management fees are reflected in the net appreciation in the fair value of investments on the Statements of Changes in Net Assets Available for Plan Benefits.
 

 
– 8 –


GE SAVINGS AND SECURITY PROGRAM
 
Notes to Financial Statements
 
December 31, 2004 and 2003
 
(2)
Summary of Significant Accounting Policies
 
 
(a)
Basis of Accounting
 
The accompanying financial statements have been prepared on the accrual basis of accounting.
 
 
(b)
Investments
 
Plan investments are stated at fair value. General Electric Company Common Stock is valued at the New York Stock Exchange closing price. Investments in registered investment companies are valued at the closing price on NASDAQ. Long-term U.S. government, agency and corporate debt, notes, bonds, and loans secured by mortgages are valued at current quoted market prices. Loans to participants bear interest at market rates and outstanding principal balance plus accrued interest approximates fair value. Short-term money market instruments, U.S. government, agency and corporate notes are valued at amortized cost, which approximates fair value. U.S. Savings Bonds are valued at the current cash redemption value published by the U.S. Treasury Department.
 
Investment transactions are recorded on a trade date basis. Dividends on General Electric Company Common Stock are recorded as of the record date. Dividends on the Registered Investment Companies are recorded on the payment date. Interest income is earned from settlement date and recognized on the accrual basis.
 
All investment options, except GE Common Stock, the Mutual Fund, the Money Market Fund and the U.S. Bond Fund, may use various financial instruments, particularly forward foreign currency contracts, options, and futures, commonly referred to as derivatives, to manage their risk. The eligible investment options do not engage in market-making or other speculative activities in the derivatives markets. Established practices require that derivative financial instruments relate to specific asset, liability, or equity transactions or to currency exposures. More detailed information regarding these financial instruments, as well as the strategies and policies for their use, is contained in the audited financial statements of the eligible investment options which are distributed annually to participants, except the Short Term Fund whose detailed information is contained in the S&S Program Supplemental Information and distributed annually.
 
(c)  
Participant Withdrawals
 
Participant withdrawals are recorded when paid.
 
 
(d)
Management Estimates and Assumptions
 
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and changes therein, and disclosure of contingent assets and liabilities. Actual results could differ from those estimates.
 

 
– 9 –


GE SAVINGS AND SECURITY PROGRAM
 
Notes to Financial Statements
 
December 31, 2004 and 2003
 
(3)
Investments
 
The following is a summary of the fair value of the Plan’s investments at December 31, 2004 and 2003.

   
2004
 
2003
 
   
(in thousands)
 
           
GE Common Stock
 
$
16,812,913
*
$
14,303,925
*
Registered Investment Companies
             
S&S Income Fund
   
1,792,659
*
 
1,793,878
*
S&S Program Mutual Fund
   
2,609,795
*
 
2,434,925
*
Other
   
959,839
   
539,034
 
Total Registered Investment Companies
   
5,362,293
   
4,767,837
 
Other Investments
             
Short-Term Money Market Instruments
   
1,106,892
   
976,183
 
U.S. Government and Agency Debt Obligations
   
1,022,219
   
1,001,306
 
Loans to Participants
   
387,886
   
365,797
 
Other
   
298,640
   
291,436
 
Total Investments at fair value
 
$
24,990,843
 
$
21,706,484
 

*Represents more than 5% of the Plan’s net assets

 
The Plan’s investments appreciated (depreciated) as follows:
 
   
2004
 
2003
 
   
(in thousands)
 
           
Common Stock
 
$
2,555,234
 
$
3,037,885
 
Registered Investment Companies
   
184,036
   
510,542
 
Other investments
   
(17,967
)
 
(4,341
)
   
$
2,721,303
 
$
3,544,086
 

 
The Short Term Fund may, from time to time, lend securities to certain unrelated brokers. In the event the counterparty does not meet its contracted obligation to return securities used, the Short Term Fund may be exposed to the risk of reacquiring the securities at prevailing market prices in order to satisfy its obligations. The Short Term Fund receives collateral in the form of cash or securities, which may be supplemented by letters of credit, in an amount generally in excess of the market value of securities loaned. The Short Term Fund monitors the market value of the securities loaned on a daily basis with additional collateral obtained or refunded as necessary. The value of loaned securities, primarily U.S. Treasury obligations, amounted to $267.9 million and $119.7 million at December 31, 2004 and 2003, respectively. The value of cash collateral obtained and reinvested in short-term investments is reflected as a liability in the Plan’s financial statements.
 

 
– 10 –


GE SAVINGS AND SECURITY PROGRAM
 
Notes to Financial Statements
 
December 31, 2004 and 2003
 
The Plan offers a number of investment options including GE Common Stock and a variety of pooled investment funds, some of which are registered investment companies. The investment funds include U.S. equities, international equities, and fixed income securities. Investment securities, in general, are exposed to various risks, such as interest rate, credit, and overall market volatility risk. Due to the level of risk associated with certain investment securities, it is reasonable to expect that changes in the values of investment securities will occur (including in the near term) and that such changes could materially affect participant account balances and the Statements of Net Assets Available for Plan Benefits.
 
The Plan’s exposure to a concentration of credit risk is limited by the opportunity to diversify investments across ten participant-directed fund elections. Additionally, the investments within each participant-directed fund election are further diversified into varied financial instruments, with the exception of the GE Common Stock and the U.S. Bond Fund, which invest in securities of a single issuer.
 
(4)
Tax Status
 
The Internal Revenue Service has notified General Electric Company by a letter dated April 30, 2002, that the Plan is qualified under the appropriate sections of the Internal Revenue Code. The Plan has been amended since that letter was issued. However, counsel for the Plan has no reason to believe that those amendments have adversely affected the validity of the determination letter.
 
The portion of a participant’s compensation contributed to the Plan as a pre-tax contribution and General Electric Company’s matching contribution are not subject to Federal income tax when such contributions are credited to participant accounts, subject to certain limitations. These amounts and any investment earnings may be included in the participant’s gross taxable income for the year in which such amounts are withdrawn from the Plan.
 
(5)
Plan Amendments
 
In 2004, the Plan was amended to increase the employer matching contributions from 50% of employee contributions up to 7% of earnings to 50% of employee contributions up to 8% of earnings for certain eligible employees with a first day of work on or after January 1, 2005.
 
In 2003, the Plan was amended to increase the number of permissible investment switches from twelve to twenty-four (effective September 2, 2003), to raise the maximum participant savings rate generally from 17% to 30% (effective January 1, 2004) and make certain other changes.
 

 
– 11 –


GE SAVINGS AND SECURITY PROGRAM

Schedule H, Line 4i - Schedule of Assets (Held at End of Year)

As of December 31, 2004


Description
 
Shares
Cost
Market
 
               
Corporate Stocks - Common
                   
* General Electric Company
   
460,622,391
 
$
10,449,339,982
 
$
16,812,913,337
 
                     
Registered Investment Companies
                   
** GE S&S Income Fund
   
155,624,951
   
1,779,230,350
   
1,792,658,697
 
** GE S&S Program Mutual Fund
   
57,536,634
   
2,643,400,439
   
2,609,794,875
 
** GE Institutional International Equity Fund
   
27,297,174
   
282,792,777
   
311,184,795
 
** GE Institutional Small-Cap Value Equity Fund
   
16,463,083
   
203,919,553
   
224,055,957
 
** GE Institutional Strategic Investment Fund
   
8,192,887
   
83,482,720
   
90,203,367
 
Vanguard Institutional Index Fund
   
3,020,515
   
293,616,990
   
334,395,216
 
Total Registered Investment Companies
         
5,286,442,829
   
5,362,292,907
 
                     
                     
                     
                     
                     
                     
                     
                     
                     
                     
                     
                     
                     
                     
                     
 
 
 
 

See accompanying notes to schedule of assets on page 21
(continued)

 
– 12 –


GE SAVINGS AND SECURITY PROGRAM

Schedule H, Line 4i - Schedule of Assets (Held at End of Year)

As of December 31, 2004


Description
 
Rate of Interest
 
Maturity
 
Cost
 
Market
 
                   
Short-Term Money Market Instruments
                         
Interest Bearing Cash and Cash Equivalents
                         
Abbey National PLC.
   
2.170
%
 
01/04/2005
 
$
52,810,448
 
$
52,810,448
 
Bank of America Corp.
   
2.110
   
02/02/2005
   
45,444,606
   
45,444,606
 
Bank of Montreal
   
2.270
   
02/01/2005
   
49,450,000
   
49,450,000
 
Barclays PLC.
   
2.340
   
02/28/2005
   
50,349,464
   
50,349,464
 
Calyon
   
2.185
   
01/19/2005
   
52,650,000
   
52,650,000
 
Canadian Imperial Holdings Inc.
   
2.250
   
01/12/2005
   
4,996,563
   
4,996,563
 
Credit Suisse First Boston
   
1.950
   
01/03/2005
   
45,805,037
   
45,805,037
 
Deutsche Bank AG
   
2.250
   
01/03/2005
   
27,616,548
   
27,616,548
 
Deutsche Bank AG
   
2.320
   
01/06/2005
   
29,240,784
   
29,240,784
 
Dexia Bank Belgium
   
2.235
   
01/05/2005
   
49,250,000
   
49,250,000
 
HBOS PLC.
   
2.310
   
02/09/2005
   
48,590,000
   
48,590,000
 
HSBC Holdings PLC.
   
2.340
   
01/20/2005
   
48,589,917
   
48,589,917
 
ING Group
   
2.280
   
02/04/2005
   
48,684,939
   
48,684,939
 
Jupiter Securitization Corp.
   
2.345
   
01/18/2005
   
48,496,238
   
48,496,238
 
Morgan Stanley Dean Witter & Co.
   
2.340
   
01/25/2005
   
48,843,685
   
48,843,685
 
Morgan Stanley Dean Witter & Co.
   
2.200
   
01/03/2005
   
15,538,101
   
15,538,101
 
National Australia Bank Ltd.
   
2.290
   
01/04/2005
   
14,997,138
   
14,997,138
 
Rabobank USA Financial Corp.
   
2.160
   
01/18/2005
   
52,846,042
   
52,846,042
 
UBS AG
   
2.200
   
01/06/2005
   
50,954,426
   
50,954,426
 
Wells Fargo Bank
   
2.320
   
01/07/2005
   
48,650,000
   
48,650,000
 
Total Interest Bearing Cash and Cash Equivalents
               
833,803,936
   
833,803,936
 
                           
Other
                         
** GEI Short Term Investment Fund
   
variable
   
n/a
   
223,087,520
   
223,087,520
 
Barclays PLC - Repurchase Agreement
   
2.250
   
01/03/2005
   
50,000,000
   
50,000,000
 
Total Other
               
273,087,520
   
273,087,520
 
Total Short-Term Money Market Instruments
               
1,106,891,456
   
1,106,891,456
 
                           
                           
                           
 
 
 
 
See accompanying notes to schedule of assets on page 21
(continued)

 
– 13 –


GE SAVINGS AND SECURITY PROGRAM

Schedule H, Line 4i - Schedule of Assets (Held at End of Year)

As of December 31, 2004


Description
 
Rate of Interest
 
Maturity
 
Cost
 
Market
     
                       
U. S. Government and Agency Debt Obligations
                               
Federal Agricultural Mortgage Corp.
   
1.430
%
 
04/01/2005
 
$
25,700,000
 
$
25,700,000
       
Federal Home Loan Bank System
   
1.780
   
05/27/2005
   
13,030,000
   
13,030,000
       
Federal Home Loan Bank System
   
1.875
   
06/15/2006
   
30,745,199
   
30,454,583
       
Federal Home Loan Bank System
   
2.500
   
12/15/2005
   
21,023,939
   
20,902,592
       
Federal Home Loan Mortgage Corp.
   
2.000
   
07/15/2006
   
185
   
267
   
(b
)
Federal Home Loan Mortgage Corp.
   
2.150
   
01/26/2005
   
49,925,694
   
49,925,694
   
(a
)
Federal Home Loan Mortgage Corp.
   
2.350
   
03/08/2005
   
23,927,043
   
23,927,043
   
(a
)
Federal Home Loan Mortgage Corp.
   
3.709
   
07/25/2022
   
843,585
   
828,300
       
Federal Home Loan Mortgage Corp.
   
5.000
   
04/01/2013
   
25,679,063
   
24,942,678
       
Federal Home Loan Mortgage Corp.
   
5.000
   
11/15/2012
   
174,059
   
173,135
   
(b
)
Federal Home Loan Mortgage Corp.
   
5.250
   
01/15/2006
   
15,479,969
   
15,340,275
       
Federal Home Loan Mortgage Corp.
   
6.000
   
10/01/2017
   
693,208
   
692,587
       
Federal Home Loan Mortgage Corp.
   
6.000
   
10/15/2013
   
256,512
   
327,445
   
(b
)
Federal Home Loan Mortgage Corp.
   
6.000
   
12/01/2008
   
7,441
   
7,721
       
Federal Home Loan Mortgage Corp.
   
6.000
   
12/01/2018
   
246,615
   
248,816
       
Federal Home Loan Mortgage Corp.
   
6.500
   
05/01/2013
   
1,342,277
   
1,337,414
       
Federal Home Loan Mortgage Corp.
   
6.500
   
12/01/2033
   
3,326,048
   
3,301,967
       
Federal Home Loan Mortgage Corp.
   
7.000
   
03/15/2007
   
1,461,693
   
1,389,885
       
Federal Home Loan Mortgage Corp.
   
7.000
   
04/01/2032
   
1,675,717
   
1,662,471
       
Federal Home Loan Mortgage Corp.
   
7.000
   
06/01/2032
   
441,906
   
439,277
       
Federal Home Loan Mortgage Corp.
   
7.000
   
10/01/2023
   
105,856
   
106,978
       
Federal Home Loan Mortgage Corp.
   
7.000
   
11/01/2031
   
260,589
   
260,180
       
Federal Home Loan Mortgage Corp.
   
7.000
   
11/01/2033
   
479,893
   
476,050
       
Federal Home Loan Mortgage Corp.
   
7.500
   
01/01/2027
   
988,492
   
1,002,594
       
Federal Home Loan Mortgage Corp.
   
7.500
   
11/01/2008
   
33,036
   
32,669
       
Federal Home Loan Mortgage Corp.
   
8.000
   
05/01/2031
   
161,059
   
163,890
       
Federal Home Loan Mortgage Corp.
   
8.500
   
03/01/2027
   
164,869
   
164,363
       
Federal Home Loan Mortgage Corp.
   
9.250
   
12/01/2016
   
483,215
   
461,082
       
Federal National Mortgage Assoc.
   
1.408
   
07/25/2044
   
6,699,169
   
4,347,882
   
(b
)
Federal National Mortgage Assoc.
   
1.890
   
02/23/2005
   
33,228,268
   
33,228,268
   
(a
)
Federal National Mortgage Assoc.
   
2.140
   
01/03/2005
   
44,864,694
   
44,864,690
   
(a
)
Federal National Mortgage Assoc.
   
2.160
   
02/04/2005
   
39,918,779
   
39,918,778
   
(a
)
Federal National Mortgage Assoc.
   
2.219
   
06/25/2043
   
22,328,949
   
9,258,150
   
(b
)
Federal National Mortgage Assoc.
   
2.570
   
12/25/2042
   
15,126,795
   
15,368,049
       


See accompanying notes to schedule of assets on page 21
(continued)

 
– 14 –


GE SAVINGS AND SECURITY PROGRAM

Schedule H, Line 4i - Schedule of Assets (Held at End of Year)

As of December 31, 2004


Description
 
Rate of Interest
 
Maturity
 
Cost
 
Market
 
                   
U. S. Government and Agency Debt Obligations, continued
                         
Federal National Mortgage Assoc.
   
3.056
%
 
07/25/2037
 
$
3,436,431
 
$
3,413,118
 
Federal National Mortgage Assoc.
   
3.279
   
10/25/2042
   
8,755,072
   
8,639,732
 
Federal National Mortgage Assoc.
   
3.300
   
07/01/2033
   
3,098,099
   
3,063,325
 
Federal National Mortgage Assoc.
   
3.368
   
06/01/2033
   
2,378,915
   
2,360,227
 
Federal National Mortgage Assoc.
   
3.460
   
06/25/2043
   
16,325,383
   
16,219,974
 
Federal National Mortgage Assoc.
   
3.502
   
05/01/2033
   
1,819,878
   
1,779,292
 
Federal National Mortgage Assoc.
   
3.777
   
06/01/2033
   
3,923,425
   
3,811,809
 
Federal National Mortgage Assoc.
   
4.003
   
07/01/2033
   
14,351,882
   
14,034,662
 
Federal National Mortgage Assoc.
   
4.055
   
06/01/2033
   
8,000,253
   
7,742,491
 
Federal National Mortgage Assoc.
   
4.120
   
07/01/2033
   
9,777,544
   
9,496,067
 
Federal National Mortgage Assoc.
   
4.152
   
06/01/2033
   
6,598,386
   
6,410,428
 
Federal National Mortgage Assoc.
   
4.286
   
05/01/2033
   
8,890,799
   
8,615,522
 
Federal National Mortgage Assoc.
   
4.353
   
06/01/2033
   
2,682,778
   
2,642,988
 
Federal National Mortgage Assoc.
   
4.375
   
10/15/2006
   
11,931,194
   
12,237,817
 
Federal National Mortgage Assoc.
   
4.500
   
06/25/2043
   
5,094,336
   
5,010,938
 
Federal National Mortgage Assoc.
   
4.607
   
12/01/2032
   
3,202,128
   
3,190,035
 
Federal National Mortgage Assoc.
   
5.170
   
02/25/2044
   
16,877,004
   
16,845,826
 
Federal National Mortgage Assoc.
   
5.228
   
06/01/2033
   
2,527,159
   
2,477,698
 
Federal National Mortgage Assoc.
   
5.500
   
02/15/2006
   
15,366,494
   
15,195,389
 
Federal National Mortgage Assoc.
   
6.000
   
01/25/2034
   
18,231,036
   
18,008,068
 
Federal National Mortgage Assoc.
   
6.000
   
02/01/2018
   
1,470,139
   
1,463,109
 
Federal National Mortgage Assoc.
   
6.000
   
04/01/2033
   
540,269
   
535,903
 
Federal National Mortgage Assoc.
   
6.000
   
08/25/2028
   
22,037,274
   
21,728,128
 
Federal National Mortgage Assoc.
   
6.000
   
11/01/2018
   
1,149,307
   
1,143,302
 
Federal National Mortgage Assoc.
   
6.000
   
11/01/2033
   
1,080,459
   
1,078,521
 
Federal National Mortgage Assoc.
   
6.000
   
12/15/2005
   
9,762,337
   
9,970,542
 
Federal National Mortgage Assoc.
   
6.500
   
04/01/2033
   
726,009
   
723,072
 
Federal National Mortgage Assoc.
   
6.500
   
05/01/2017
   
1,216,509
   
1,214,920
 
Federal National Mortgage Assoc.
   
6.500
   
05/01/2033
   
1,454,047
   
1,441,964
 
Federal National Mortgage Assoc.
   
6.500
   
08/01/2022
   
1,130,683
   
1,135,619
 
Federal National Mortgage Assoc.
   
6.500
   
10/01/2017
   
162,995
   
163,825
 
Federal National Mortgage Assoc.
   
6.500
   
11/01/2023
   
1,468,609
   
1,480,626
 
Federal National Mortgage Assoc.
   
7.000
   
01/01/2032
   
343,742
   
342,761
 
Federal National Mortgage Assoc.
   
7.000
   
02/01/2017
   
163,568
   
164,884
 
Federal National Mortgage Assoc.
   
7.000
   
02/01/2019
   
43,449
   
43,345
 

See accompanying notes to schedule of assets on page 21
(continued)

 
– 15 –


GE SAVINGS AND SECURITY PROGRAM

Schedule H, Line 4i - Schedule of Assets (Held at End of Year)

As of December 31, 2004


Description
 
Rate of Interest
 
Maturity
 
Cost
 
Market
 
                   
U. S. Government and Agency Debt Obligations, continued
                         
Federal National Mortgage Assoc.
   
7.000
%
 
03/01/2017
 
$
2,497,165
 
$
2,508,575
 
Federal National Mortgage Assoc.
   
7.000
   
03/01/2029
   
300,142
   
306,883
 
Federal National Mortgage Assoc.
   
7.000
   
03/01/2034
   
902,973
   
894,297
 
Federal National Mortgage Assoc.
   
7.000
   
04/01/2011
   
427,745
   
418,793
 
Federal National Mortgage Assoc.
   
7.000
   
04/01/2017
   
2,054,538
   
2,061,259
 
Federal National Mortgage Assoc.
   
7.000
   
04/01/2033
   
2,066,279
   
2,054,368
 
Federal National Mortgage Assoc.
   
7.000
   
05/01/2017
   
1,347,835
   
1,344,191
 
Federal National Mortgage Assoc.
   
7.000
   
06/01/2031
   
257,621
   
256,940
 
Federal National Mortgage Assoc.
   
7.000
   
06/01/2034
   
1,017,814
   
1,021,177
 
Federal National Mortgage Assoc.
   
7.000
   
07/01/2017
   
2,515,744
   
2,514,604
 
Federal National Mortgage Assoc.
   
7.000
   
07/15/2005
   
66,091,406
   
66,298,269
 
Federal National Mortgage Assoc.
   
7.000
   
10/01/2031
   
859,192
   
880,056
 
Federal National Mortgage Assoc.
   
7.000
   
10/01/2032
   
202,417
   
200,658
 
Federal National Mortgage Assoc.
   
7.000
   
11/01/2033
   
1,594,539
   
1,581,163
 
Federal National Mortgage Assoc.
   
7.500
   
01/01/2025
   
456,648
   
464,957
 
Federal National Mortgage Assoc.
   
7.500
   
01/01/2031
   
95,007
   
96,369
 
Federal National Mortgage Assoc.
   
7.500
   
01/01/2032
   
649,797
   
659,818
 
Federal National Mortgage Assoc.
   
7.500
   
02/01/2031
   
304,310
   
308,636
 
Federal National Mortgage Assoc.
   
7.500
   
03/01/2023
   
49,958
   
50,426
 
Federal National Mortgage Assoc.
   
7.500
   
03/01/2034
   
10,177,620
   
10,138,389
 
Federal National Mortgage Assoc.
   
7.500
   
04/01/2016
   
183,538
   
182,019
 
Federal National Mortgage Assoc.
   
7.500
   
04/01/2032
   
294,267
   
298,483
 
Federal National Mortgage Assoc.
   
7.500
   
04/01/2032
   
648,231
   
657,517
 
Federal National Mortgage Assoc.
   
7.500
   
04/01/2033
   
398,616
   
397,325
 
Federal National Mortgage Assoc.
   
7.500
   
05/01/2026
   
347,711
   
353,160
 
Federal National Mortgage Assoc.
   
7.500
   
05/01/2034
   
1,844,174
   
1,835,585
 
Federal National Mortgage Assoc.
   
7.500
   
06/01/2031
   
2,993,220
   
2,989,921
 
Federal National Mortgage Assoc.
   
7.500
   
06/01/2032
   
403,817
   
401,840
 
Federal National Mortgage Assoc.
   
7.500
   
07/01/2027
   
699,145
   
708,632
 
Federal National Mortgage Assoc.
   
7.500
   
07/01/2032
   
446,458
   
449,249
 
Federal National Mortgage Assoc.
   
7.500
   
10/01/2030
   
175,728
   
174,089
 
Federal National Mortgage Assoc.
   
7.500
   
11/01/2021
   
498,915
   
500,639
 
Federal National Mortgage Assoc.
   
7.500
   
11/01/2022
   
275,168
   
281,777
 
Federal National Mortgage Assoc.
   
7.500
   
11/01/2030
   
2,550,069
   
2,548,787
 
Federal National Mortgage Assoc.
   
7.500
   
11/01/2033
   
856,430
   
855,023
 

See accompanying notes to schedule of assets on page 21
(continued)

 
– 16 –


GE SAVINGS AND SECURITY PROGRAM

Schedule H, Line 4i - Schedule of Assets (Held at End of Year)

As of December 31, 2004


Description
 
Rate of Interest
 
Maturity
 
Cost
 
Market
     
                       
U. S. Government and Agency Debt Obligations, continued
                               
Federal National Mortgage Assoc.
   
8.000
%
 
01/01/2034
 
$
1,309,972
 
$
1,301,592
       
Federal National Mortgage Assoc.
   
8.000
   
02/01/2032
   
302,575
   
306,641
       
Federal National Mortgage Assoc.
   
8.000
   
03/01/2032
   
670,819
   
676,710
       
Federal National Mortgage Assoc.
   
8.000
   
05/01/2032
   
221,014
   
224,001
       
Federal National Mortgage Assoc.
   
8.000
   
07/01/2009
   
733,538
   
704,977
       
Federal National Mortgage Assoc.
   
8.000
   
11/01/2033
   
506,571
   
505,295
       
Federal National Mortgage Assoc.
   
8.500
   
02/01/2032
   
277,381
   
282,552
       
Federal National Mortgage Assoc.
   
8.500
   
03/01/2032
   
62,901
   
63,846
       
Federal National Mortgage Assoc.
   
8.500
   
06/01/2028
   
1,283,157
   
1,293,306
       
Federal National Mortgage Assoc.
   
8.500
   
08/01/2029
   
1,848,421
   
1,873,926
       
Federal National Mortgage Assoc.
   
8.500
   
08/01/2030
   
219,850
   
218,302
       
Federal National Mortgage Assoc.
   
8.500
   
09/01/2032
   
152,558
   
153,749
       
Federal National Mortgage Assoc.
   
8.500
   
10/01/2033
   
533,201
   
533,589
       
Federal National Mortgage Assoc.
   
9.000
   
03/01/2011
   
3,320,528
   
3,412,755
       
Federal National Mortgage Assoc.
   
9.000
   
08/01/2010
   
1,345,425
   
1,335,628
       
Federal National Mortgage Assoc.
   
9.000
   
12/01/2031
   
304,946
   
309,972
       
Federal National Mortgage Assoc.
   
9.500
   
09/01/2021
   
599,168
   
582,421
       
Federal National Mortgage Assoc.
   
14.630
   
05/25/2018
   
200,352
   
149,783
   
(a,b
)
Government National Mortgage Assoc.
   
6.500
   
01/15/2034
   
3,803,351
   
3,767,552
       
Government National Mortgage Assoc.
   
6.500
   
02/15/2034
   
1,058,351
   
1,043,236
       
Government National Mortgage Assoc.
   
6.500
   
03/15/2024
   
863,089
   
850,264
       
Government National Mortgage Assoc.
   
6.500
   
03/15/2033
   
636,725
   
631,015
       
Government National Mortgage Assoc.
   
6.500
   
04/15/2017
   
245,070
   
244,881
       
Government National Mortgage Assoc.
   
6.500
   
04/15/2034
   
1,342,333
   
1,357,944
       
Government National Mortgage Assoc.
   
6.500
   
10/15/2033
   
1,203,767
   
1,193,492
       
Government National Mortgage Assoc.
   
6.500
   
11/15/2016
   
905,584
   
904,856
       
Government National Mortgage Assoc.
   
6.500
   
11/15/2033
   
1,360,332
   
1,348,125
       
Government National Mortgage Assoc.
   
6.500
   
12/15/2024
   
1,718,568
   
1,719,970
       
Government National Mortgage Assoc.
   
6.500
   
12/15/2029
   
1,094,903
   
1,092,879
       
Government National Mortgage Assoc.
   
7.000
   
03/15/2031
   
771,824
   
779,896
       
Government National Mortgage Assoc.
   
7.000
   
05/15/2032
   
680,669
   
687,199
       
Government National Mortgage Assoc.
   
7.000
   
11/15/2023
   
701,264
   
701,023
       
Government National Mortgage Assoc.
   
7.000
   
11/15/2032
   
650,262
   
647,923
       
Government National Mortgage Assoc.
   
7.000
   
12/15/2018
   
825,359
   
815,543
       
Government National Mortgage Assoc.
   
7.500
   
01/15/2031
   
1,531,116
   
1,554,395
       

See accompanying notes to schedule of assets on page 21
(continued)

 
– 17 –


GE SAVINGS AND SECURITY PROGRAM

Schedule H, Line 4i - Schedule of Assets (Held at End of Year)

As of December 31, 2004


Description
 
Rate of Interest
 
Maturity
 
Cost
 
Market
 
                   
U. S. Government and Agency Debt Obligations, continued
                         
Government National Mortgage Assoc.
   
7.500
%
 
02/15/2009
 
$
1,164,017
 
$
1,200,614
 
Government National Mortgage Assoc.
   
7.500
   
03/15/2031
   
160,704
   
163,148
 
Government National Mortgage Assoc.
   
7.500
   
05/15/2031
   
722,455
   
733,439
 
Government National Mortgage Assoc.
   
7.500
   
07/15/2031
   
743,178
   
754,477
 
Government National Mortgage Assoc.
   
7.500
   
09/15/2031
   
640,742
   
650,484
 
Government National Mortgage Assoc.
   
7.500
   
11/15/2027
   
338,487
   
339,239
 
Government National Mortgage Assoc.
   
7.500
   
12/15/2012
   
4,544,210
   
4,768,519
 
Government National Mortgage Assoc.
   
7.500
   
12/15/2018
   
862,325
   
847,689
 
Government National Mortgage Assoc.
   
8.000
   
03/15/2032
   
213,397
   
216,912
 
Government National Mortgage Assoc.
   
9.000
   
08/15/2009
   
1,036,269
   
992,877
 
Government National Mortgage Assoc.
   
9.000
   
11/15/2017
   
6,261,687
   
6,477,152
 
Government National Mortgage Assoc.
   
9.000
   
12/15/2009
   
13,998,254
   
14,266,195
 
Government National Mortgage Assoc.
   
9.500
   
12/15/2009
   
491,932
   
484,583
 
Government National Mortgage Assoc.
   
9.500
   
12/15/2009
   
3,531,260
   
3,543,378
 
U.S. Treasury Notes
   
2.875
   
11/30/2006
   
123,925,090
   
123,676,632
 
U.S. Treasury Notes
   
3.125
   
05/15/2007
   
49,908,013
   
49,800,584
 
U.S. Treasury Notes
   
3.375
   
09/15/2009
   
106,346,325
   
105,228,269
 
Total U.S. Government and Agency Debt Obligations
               
1,041,498,934
   
1,022,219,003
 


 
 
 
 
See accompanying notes to schedule of assets on page 21
(continued)

 
– 18 –


GE SAVINGS AND SECURITY PROGRAM

Schedule H, Line 4i - Schedule of Assets (Held at End of Year)

As of December 31, 2004



Description
 
Units
 
Cost
 
Market
 
               
U.S. Savings Bonds
                   
1965 U.S. Savings Bond E Series
   
72
 
$
1,350
 
$
13,920
 
1975 U.S. Savings Bond E Series
   
2,857
   
53,569
   
368,257
 
1976 U.S. Savings Bond E Series
   
3,437
   
64,444
   
435,995
 
1977 U.S. Savings Bond E Series
   
4,803
   
90,056
   
589,950
 
1978 U.S. Savings Bond E Series
   
7,725
   
144,844
   
731,024
 
1979 U.S. Savings Bond E Series
   
11,898
   
223,088
   
1,076,999
 
1980 U.S. Savings Bond EE Series
   
5,068
   
253,400
   
1,327,925
 
1981 U.S. Savings Bond EE Series
   
5,354
   
267,700
   
1,217,749
 
1982 U.S. Savings Bond EE Series
   
6,046
   
302,300
   
1,294,666
 
1983 U.S. Savings Bond EE Series
   
10,743
   
537,150
   
1,900,589
 
1984 U.S. Savings Bond EE Series
   
12,043
   
602,150
   
1,924,566
 
1985 U.S. Savings Bond EE Series
   
18,181
   
909,050
   
2,737,676
 
1986 U.S. Savings Bond EE Series
   
55,812
   
2,790,600
   
7,948,431
 
1987 U.S. Savings Bond EE Series
   
59,843
   
2,992,150
   
7,487,310
 
1988 U.S. Savings Bond EE Series
   
69,300
   
3,465,000
   
8,335,638
 
1989 U.S. Savings Bond EE Series
   
103,466
   
5,173,300
   
11,956,134
 
1990 U.S. Savings Bond EE Series
   
105,995
   
5,299,750
   
11,770,447
 
1991 U.S. Savings Bond EE Series
   
112,321
   
5,616,050
   
11,997,901
 
1992 U.S. Savings Bond EE Series
   
171,873
   
8,593,650
   
17,621,558
 
1993 U.S. Savings Bond EE Series
   
123,270
   
6,163,500
   
10,617,769
 
1994 U.S. Savings Bond EE Series
   
97,801
   
4,890,050
   
7,761,563
 
1995 U.S. Savings Bond EE Series
   
38,962
   
1,948,100
   
2,952,815
 
1996 U.S. Savings Bond EE Series
   
297
   
14,850
   
20,457
 
1997 U.S. Savings Bond EE Series
   
457
   
22,850
   
31,171
 
1998 U.S. Savings Bond EE Series
   
826
   
41,300
   
53,872
 
1999 U.S. Savings Bond EE Series
   
1,042
   
52,100
   
64,928
 
2000 U.S. Savings Bond EE Series
   
1,310
   
65,500
   
77,192
 
2001 U.S. Savings Bond EE Series
   
1,580
   
79,000
   
88,262
 
2002 U.S. Savings Bond EE Series
   
221,616
   
11,080,800
   
11,877,160
 
2003 U.S. Savings Bond EE Series
   
226,622
   
11,331,100
   
11,721,708
 
2004 U.S. Savings Bond EE Series
   
251,230
   
12,561,500
   
12,561,500
 
Total U.S. Savings Bonds
         
85,630,251
   
148,565,132
 



See accompanying notes to schedule of assets on page 21
(continued)

 
– 19 –


GE SAVINGS AND SECURITY PROGRAM

Schedule H, Line 4i - Schedule of Assets (Held at End of Year)

As of December 31, 2004


Description
 
Rate of Interest
 
Maturity
 
Cost
 
Market
     
                       
Corporate Notes
                               
American Express Credit Corp.
   
2.381
%
 
10/05/2005
 
$
23,047,085
 
$
23,047,085
       
International Lease Finance Corp.
   
3.370
   
07/15/2005
   
2,414,127
   
2,416,104
       
Marsh & McLennan Cos. Inc.
   
2.193
   
07/13/2007
   
1,501,086
   
1,465,557
       
Merrill Lynch & Co. Inc.
   
2.708
   
01/14/2005
   
4,000,000
   
4,000,332
       
Total Corporate Notes
               
30,962,298
   
30,929,078
       
                                 
Loans to Participants
                               
* Various (62,471 loans)
   
5.840-8.410
   
1 month -
15 years
   
387,885,669
   
387,885,669
       
                                 
Loans Secured by Mortgages and Other Assets
                               
Aesop Funding II LLC (Class A)
   
2.660
   
11/20/2006
   
7,015,784
   
7,004,375
       
Banc of America Large Loan
   
2.523
   
06/15/2018
   
2,699,266
   
2,699,267
       
CDC Mortgage Capital Trust (Class A)
   
2.908
   
03/25/2033
   
182,148
   
182,794
       
Cendant Mortgage Corp.
   
7.483
   
04/25/2031
   
2,916,097
   
2,890,723
       
Centex Home Equity
   
2.668
   
06/25/2034
   
1,240,824
   
1,239,228
       
Chase Funding Mortgage Loan Asset-Backed Certificates
   
2.548
   
01/25/2025
   
1,329,747
   
1,329,773
       
Citibank Credit Card Issuance Trust (Class C)
   
6.650
   
05/15/2008
   
2,713,280
   
2,601,875
       
Crusade Global Trust (Class A)
   
2.700
   
09/18/2034
   
444,679
   
445,590
       
First Horizon Asset Back Trust (Class A)
   
2.638
   
02/25/2034
   
3,020,044
   
3,019,102
       
Fleet Credit Card Master Trust II (Class A)
   
5.600
   
12/15/2008
   
7,385,252
   
7,091,494
       
Ford Credit Floorplan Master Owner Trust (Class A)
   
2.443
   
07/15/2009
   
7,000,000
   
7,005,236
     
GMAC Mortgage Corp. Loan Trust (Class A)
   
2.498
   
06/25/2034
   
1,250,000
   
1,250,486
       
Greenwich Capital Commercial Funding Corp.
   
1.144
   
11/05/2013
   
2,403,368
   
2,402,036
       
GSAA Trust
   
2.568
   
05/25/2034
   
7,860,823
   
7,840,623
       
GSAA Trust
   
2.818
   
05/25/2034
   
2,545,798
   
2,550,000
       
Hertz Vehicle Financing LLC
   
2.508
   
05/25/2008
   
3,000,820
   
3,001,005
       
Interstar Millennium Trust (Class A)
   
2.680
   
03/14/2036
   
458,518
   
458,695
       
LB-UBS Commercial Mortgage Trust
   
3.790
   
10/17/2013
   
4,168,269
   
3,890,433
   
(a
)
LB-UBS Commercial Mortgage Trust
   
3.680
   
07/15/2037
   
2,076,453
   
2,126,980
   
(a
)
LB-UBS Commercial Mortgage Trust