<PAGE> PAGE 1
000 A000000 12/31/97
000 C000000 0001013881
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
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000 J000000 A
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002 D020000 1286
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004 000000 N
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007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
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008 A00AA02 INSTITUTIONAL CAPITAL CORP
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<PAGE> PAGE 2
008 D03AA02 60606
008 D04AA02 1286
011 A00AA01 PAINE WEBBER, INCORPORATED
011 B00AA01 8-16267
011 C01AA01 NEW YORK
011 C02AA01 NY
011 C03AA01 10019
011 A00AA02 MERRILL LYNCH & CO.
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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SIGNATURE O. WALTER RENFFTLEN
TITLE V.P & CONTROLLER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the Form
N-SAR and the financial statements and is qualified in its entirety by
references to such documents.
</LEGEND>
<SERIES>
<NUMBER> 031
<NAME> NUVEEN BALANCED MUNI & STOCK CLASS A
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<S> <C>
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<PERIOD-END> DEC-31-1997
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<INVESTMENTS-AT-VALUE> 122918
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<TOTAL-ASSETS> 126105
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<SHARES-COMMON-STOCK> 4040
<SHARES-COMMON-PRIOR> 3460
<ACCUMULATED-NII-CURRENT> 34
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1183
<OVERDISTRIBUTION-GAINS> 0
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<NET-ASSETS> 125426
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<INTEREST-INCOME> 1747
<OTHER-INCOME> 0
<EXPENSES-NET> 639
<NET-INVESTMENT-INCOME> 1417
<REALIZED-GAINS-CURRENT> 2590
<APPREC-INCREASE-CURRENT> 1951
<NET-CHANGE-FROM-OPS> 5958
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<DISTRIBUTIONS-OF-GAINS> 1444
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 634
<NUMBER-OF-SHARES-REDEEMED> (146)
<SHARES-REINVESTED> 93
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<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
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<PER-SHARE-NAV-BEGIN> 23.11
<PER-SHARE-NII> .32
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<PER-SHARE-DIVIDEND> (.34)
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the Form
N-SAR and the financial statements and is qualified in its entirety by
references to such documents.
</LEGEND>
<SERIES>
<NUMBER> 032
<NAME> NUVEEN BALANCED MUNI & STOCK CLASS B
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1998
<PERIOD-START> JUL-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 117003
<INVESTMENTS-AT-VALUE> 122918
<RECEIVABLES> 2941
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<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 126105
<PAYABLE-FOR-SECURITIES> 208
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<OTHER-ITEMS-LIABILITIES> 471
<TOTAL-LIABILITIES> 679
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 118295
<SHARES-COMMON-STOCK> 604
<SHARES-COMMON-PRIOR> 89
<ACCUMULATED-NII-CURRENT> 34
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1183
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 5914
<NET-ASSETS> 125426
<DIVIDEND-INCOME> 309
<INTEREST-INCOME> 1747
<OTHER-INCOME> 0
<EXPENSES-NET> 639
<NET-INVESTMENT-INCOME> 1417
<REALIZED-GAINS-CURRENT> 2590
<APPREC-INCREASE-CURRENT> 1951
<NET-CHANGE-FROM-OPS> 5958
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 60
<DISTRIBUTIONS-OF-GAINS> 193
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 520
<NUMBER-OF-SHARES-REDEEMED> (11)
<SHARES-REINVESTED> 7
<NET-CHANGE-IN-ASSETS> 34901
<ACCUMULATED-NII-PRIOR> 116
<ACCUMULATED-GAINS-PRIOR> 441
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 411
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 783
<AVERAGE-NET-ASSETS> 8003
<PER-SHARE-NAV-BEGIN> 23.11
<PER-SHARE-NII> .23
<PER-SHARE-GAIN-APPREC> 1.09
<PER-SHARE-DIVIDEND> (.19)
<PER-SHARE-DISTRIBUTIONS> (.37)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 23.87
<EXPENSE-RATIO> 1.85
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the Form
N-SAR and the financial statements and is qualified in its entirety by
references to such documents.
</LEGEND>
<SERIES>
<NUMBER> 033
<NAME> NUVEEN BALANCED MUNI & STOCK CLASS C
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1998
<PERIOD-START> JUL-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 117003
<INVESTMENTS-AT-VALUE> 122918
<RECEIVABLES> 2941
<ASSETS-OTHER> 246
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 126105
<PAYABLE-FOR-SECURITIES> 208
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<OTHER-ITEMS-LIABILITIES> 471
<TOTAL-LIABILITIES> 679
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 118295
<SHARES-COMMON-STOCK> 286
<SHARES-COMMON-PRIOR> 67
<ACCUMULATED-NII-CURRENT> 34
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1183
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 5914
<NET-ASSETS> 125426
<DIVIDEND-INCOME> 309
<INTEREST-INCOME> 1747
<OTHER-INCOME> 0
<EXPENSES-NET> 639
<NET-INVESTMENT-INCOME> 1417
<REALIZED-GAINS-CURRENT> 2590
<APPREC-INCREASE-CURRENT> 1951
<NET-CHANGE-FROM-OPS> 5958
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 31
<DISTRIBUTIONS-OF-GAINS> 90
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 215
<NUMBER-OF-SHARES-REDEEMED> (1)
<SHARES-REINVESTED> 4
<NET-CHANGE-IN-ASSETS> 34901
<ACCUMULATED-NII-PRIOR> 116
<ACCUMULATED-GAINS-PRIOR> 441
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 411
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 783
<AVERAGE-NET-ASSETS> 4059
<PER-SHARE-NAV-BEGIN> 23.10
<PER-SHARE-NII> .23
<PER-SHARE-GAIN-APPREC> 1.09
<PER-SHARE-DIVIDEND> (.19)
<PER-SHARE-DISTRIBUTIONS> (.37)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 23.86
<EXPENSE-RATIO> 1.85
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the Form
N-SAR and the financial statements and is qualified in its entirety by
references to such documents.
</LEGEND>
<SERIES>
<NUMBER> 034
<NAME> NUVEEN BALANCED MUNI & STOCK CLASS R
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1998
<PERIOD-START> JUL-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 117003
<INVESTMENTS-AT-VALUE> 122918
<RECEIVABLES> 2941
<ASSETS-OTHER> 246
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 126105
<PAYABLE-FOR-SECURITIES> 208
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 471
<TOTAL-LIABILITIES> 679
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 118295
<SHARES-COMMON-STOCK> 337
<SHARES-COMMON-PRIOR> 301
<ACCUMULATED-NII-CURRENT> 34
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1183
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 5914
<NET-ASSETS> 125426
<DIVIDEND-INCOME> 309
<INTEREST-INCOME> 1747
<OTHER-INCOME> 0
<EXPENSES-NET> 639
<NET-INVESTMENT-INCOME> 1417
<REALIZED-GAINS-CURRENT> 2590
<APPREC-INCREASE-CURRENT> 1951
<NET-CHANGE-FROM-OPS> 5958
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 137
<DISTRIBUTIONS-OF-GAINS> 120
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 35
<NUMBER-OF-SHARES-REDEEMED> (1)
<SHARES-REINVESTED> 1
<NET-CHANGE-IN-ASSETS> 34901
<ACCUMULATED-NII-PRIOR> 116
<ACCUMULATED-GAINS-PRIOR> 441
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 411
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 783
<AVERAGE-NET-ASSETS> 7637
<PER-SHARE-NAV-BEGIN> 23.11
<PER-SHARE-NII> .35
<PER-SHARE-GAIN-APPREC> 1.08
<PER-SHARE-DIVIDEND> (.42)
<PER-SHARE-DISTRIBUTIONS> (.37)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 23.75
<EXPENSE-RATIO> .85
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the Form
N-SAR and the Financial Statements and is qualified in its entirety by
references to such documents.
</LEGEND>
<SERIES>
<NUMBER> 022
<NAME> NUVEEN BALANCED STOCK AND BOND FUND- CLASS B
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1998
<PERIOD-START> JUL-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 75164
<INVESTMENTS-AT-VALUE> 78742
<RECEIVABLES> 3321
<ASSETS-OTHER> 313
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 82376
<PAYABLE-FOR-SECURITIES> 95
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 621
<TOTAL-LIABILITIES> 716
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 77084
<SHARES-COMMON-STOCK> 268
<SHARES-COMMON-PRIOR> 27
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 998
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3578
<NET-ASSETS> 81660
<DIVIDEND-INCOME> 255
<INTEREST-INCOME> 1241
<OTHER-INCOME> 0
<EXPENSES-NET> 413
<NET-INVESTMENT-INCOME> 1083
<REALIZED-GAINS-CURRENT> 2282
<APPREC-INCREASE-CURRENT> 523
<NET-CHANGE-FROM-OPS> 3888
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 55
<DISTRIBUTIONS-OF-GAINS> 121
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 240
<NUMBER-OF-SHARES-REDEEMED> (4)
<SHARES-REINVESTED> 5
<NET-CHANGE-IN-ASSETS> 17296
<ACCUMULATED-NII-PRIOR> 19
<ACCUMULATED-GAINS-PRIOR> 504
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 274
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 542
<AVERAGE-NET-ASSETS> 27081
<PER-SHARE-NAV-BEGIN> 23.84
<PER-SHARE-NII> .28
<PER-SHARE-GAIN-APPREC> 1.02
<PER-SHARE-DIVIDEND> (.27)
<PER-SHARE-DISTRIBUTIONS> (.57)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 24.30
<EXPENSE-RATIO> 1.86
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the Form
N-SAR and the Financial Statements and is qualified in its entirety by
references to such documents.
</LEGEND>
<SERIES>
<NUMBER> 024
<NAME> NUVEEN BALANCED STOCK AND BOND FUND- CLASS R
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1998
<PERIOD-START> JUL-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 75164
<INVESTMENTS-AT-VALUE> 78742
<RECEIVABLES> 3321
<ASSETS-OTHER> 313
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 82376
<PAYABLE-FOR-SECURITIES> 95
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<OTHER-ITEMS-LIABILITIES> 621
<TOTAL-LIABILITIES> 716
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 77084
<SHARES-COMMON-STOCK> 365
<SHARES-COMMON-PRIOR> 254
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 998
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3578
<NET-ASSETS> 81660
<DIVIDEND-INCOME> 255
<INTEREST-INCOME> 1241
<OTHER-INCOME> 0
<EXPENSES-NET> 413
<NET-INVESTMENT-INCOME> 1083
<REALIZED-GAINS-CURRENT> 2282
<APPREC-INCREASE-CURRENT> 523
<NET-CHANGE-FROM-OPS> 3888
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 121
<DISTRIBUTIONS-OF-GAINS> 205
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<NUMBER-OF-SHARES-SOLD> 109
<NUMBER-OF-SHARES-REDEEMED> (1)
<SHARES-REINVESTED> 4
<NET-CHANGE-IN-ASSETS> 17296
<ACCUMULATED-NII-PRIOR> 19
<ACCUMULATED-GAINS-PRIOR> 504
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 274
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 542
<AVERAGE-NET-ASSETS> 16180
<PER-SHARE-NAV-BEGIN> 23.84
<PER-SHARE-NII> .40
<PER-SHARE-GAIN-APPREC> 1.03
<PER-SHARE-DIVIDEND> (.39)
<PER-SHARE-DISTRIBUTIONS> (.57)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 24.31
<EXPENSE-RATIO> .85
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the Form
N-SAR and the financial statements and is qualified in its entirety by
references to such documents.
</LEGEND>
<SERIES>
<NUMBER> 011
<NAME> NUVEEN GROWTH AND INCOME STOCK CLASS A
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1998
<PERIOD-START> JUL-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 684675
<INVESTMENTS-AT-VALUE> 742548
<RECEIVABLES> 14439
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<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 757246
<PAYABLE-FOR-SECURITIES> 1017
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3513
<TOTAL-LIABILITIES> 4530
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 670740
<SHARES-COMMON-STOCK> 29290
<SHARES-COMMON-PRIOR> 25665
<ACCUMULATED-NII-CURRENT> 13
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 24090
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 57873
<NET-ASSETS> 752716
<DIVIDEND-INCOME> 4680
<INTEREST-INCOME> 2203
<OTHER-INCOME> 0
<EXPENSES-NET> 4454
<NET-INVESTMENT-INCOME> 2429
<REALIZED-GAINS-CURRENT> 61182
<APPREC-INCREASE-CURRENT> (21841)
<NET-CHANGE-FROM-OPS> 41770
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2388
<DISTRIBUTIONS-OF-GAINS> 55955
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2128
<NUMBER-OF-SHARES-REDEEMED> (625)
<SHARES-REINVESTED> 2123
<NET-CHANGE-IN-ASSETS> 106566
<ACCUMULATED-NII-PRIOR> 48
<ACCUMULATED-GAINS-PRIOR> 23930
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2997
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5033
<AVERAGE-NET-ASSETS> 668784
<PER-SHARE-NAV-BEGIN> 24.01
<PER-SHARE-NII> .09
<PER-SHARE-GAIN-APPREC> 1.41
<PER-SHARE-DIVIDEND> (.09)
<PER-SHARE-DISTRIBUTIONS> (2.07)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 23.35
<EXPENSE-RATIO> 1.20
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the Form
N-SAR and the financial statements and is qualified in its entirety by
references to such documents.
</LEGEND>
<SERIES>
<NUMBER> 012
<NAME> NUVEEN GROWTH AND INCOME STOCK CLASS B
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1998
<PERIOD-START> JUL-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 684675
<INVESTMENTS-AT-VALUE> 742548
<RECEIVABLES> 14439
<ASSETS-OTHER> 259
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 757246
<PAYABLE-FOR-SECURITIES> 1017
<SENIOR-LONG-TERM-DEBT> 0
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<TOTAL-LIABILITIES> 4530
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 670740
<SHARES-COMMON-STOCK> 1818
<SHARES-COMMON-PRIOR> 444
<ACCUMULATED-NII-CURRENT> 13
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 24090
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 57873
<NET-ASSETS> 752716
<DIVIDEND-INCOME> 4680
<INTEREST-INCOME> 2203
<OTHER-INCOME> 0
<EXPENSES-NET> 4454
<NET-INVESTMENT-INCOME> 2429
<REALIZED-GAINS-CURRENT> 61182
<APPREC-INCREASE-CURRENT> (21841)
<NET-CHANGE-FROM-OPS> 41770
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2
<DISTRIBUTIONS-OF-GAINS> 3039
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1302
<NUMBER-OF-SHARES-REDEEMED> (44)
<SHARES-REINVESTED> 116
<NET-CHANGE-IN-ASSETS> 106566
<ACCUMULATED-NII-PRIOR> 48
<ACCUMULATED-GAINS-PRIOR> 23930
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2997
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5033
<AVERAGE-NET-ASSETS> 27081
<PER-SHARE-NAV-BEGIN> 24.00
<PER-SHARE-NII> .00
<PER-SHARE-GAIN-APPREC> 1.39
<PER-SHARE-DIVIDEND> (.00)
<PER-SHARE-DISTRIBUTIONS> (2.07)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 23.32
<EXPENSE-RATIO> 1.95
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the Form
N-SAR and the financial statements and is qualified in its entirety by
references to such documents.
</LEGEND>
<SERIES>
<NUMBER> 013
<NAME> NUVEEN GROWTH AND INCOME STOCK CLASS C
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1998
<PERIOD-START> JUL-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 684675
<INVESTMENTS-AT-VALUE> 742548
<RECEIVABLES> 14439
<ASSETS-OTHER> 259
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 757246
<PAYABLE-FOR-SECURITIES> 1017
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3513
<TOTAL-LIABILITIES> 4530
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 670740
<SHARES-COMMON-STOCK> 456
<SHARES-COMMON-PRIOR> 151
<ACCUMULATED-NII-CURRENT> 13
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 24090
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 57873
<NET-ASSETS> 752716
<DIVIDEND-INCOME> 4680
<INTEREST-INCOME> 2203
<OTHER-INCOME> 0
<EXPENSES-NET> 4454
<NET-INVESTMENT-INCOME> 2429
<REALIZED-GAINS-CURRENT> 61182
<APPREC-INCREASE-CURRENT> (21841)
<NET-CHANGE-FROM-OPS> 41770
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1
<DISTRIBUTIONS-OF-GAINS> 762
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 287
<NUMBER-OF-SHARES-REDEEMED> (12)
<SHARES-REINVESTED> 30
<NET-CHANGE-IN-ASSETS> 106566
<ACCUMULATED-NII-PRIOR> 48
<ACCUMULATED-GAINS-PRIOR> 23930
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2997
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5033
<AVERAGE-NET-ASSETS> 7132
<PER-SHARE-NAV-BEGIN> 23.98
<PER-SHARE-NII> .00
<PER-SHARE-GAIN-APPREC> 1.39
<PER-SHARE-DIVIDEND> (.00)
<PER-SHARE-DISTRIBUTIONS> (2.07)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 23.30
<EXPENSE-RATIO> 1.95
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the Form
N-SAR and the financial statements and is qualified in its entirety by
references to such documents.
</LEGEND>
<SERIES>
<NUMBER> 014
<NAME> NUVEEN GROWTH AND INCOME STOCK CLASS R
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1998
<PERIOD-START> JUL-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 684675
<INVESTMENTS-AT-VALUE> 742548
<RECEIVABLES> 14439
<ASSETS-OTHER> 259
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 757246
<PAYABLE-FOR-SECURITIES> 1017
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3513
<TOTAL-LIABILITIES> 4530
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 670740
<SHARES-COMMON-STOCK> 675
<SHARES-COMMON-PRIOR> 651
<ACCUMULATED-NII-CURRENT> 13
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 24090
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 57873
<NET-ASSETS> 752716
<DIVIDEND-INCOME> 4680
<INTEREST-INCOME> 2203
<OTHER-INCOME> 0
<EXPENSES-NET> 4454
<NET-INVESTMENT-INCOME> 2429
<REALIZED-GAINS-CURRENT> 61182
<APPREC-INCREASE-CURRENT> (21841)
<NET-CHANGE-FROM-OPS> 41770
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 73
<DISTRIBUTIONS-OF-GAINS> 1266
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 190
<NUMBER-OF-SHARES-REDEEMED> (219)
<SHARES-REINVESTED> 52
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<TABLE> <S> <C>
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<LEGEND>
This schedule contains Summary Financial Information extracted from the Form
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references to such documents.
</LEGEND>
<SERIES>
<NUMBER> 021
<NAME> NUVEEN BALANCED STOCK AND BOND FUND- CLASS A
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<S> <C>
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the Form
N-SAR and the Financial Statements and is qualified in its entirety by
references to such documents.
</LEGEND>
<SERIES>
<NUMBER> 023
<NAME> NUVEEN BALANCED STOCK AND BOND FUND- CLASS C
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<S> <C>
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<ACCUMULATED-NET-GAINS> 998
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3578
<NET-ASSETS> 81660
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</TABLE>
