SBL FUND
NSAR-A, 1996-08-28
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<PAGE>      PAGE  1
000 A000000 06/30/96
000 C000000 0000217087
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 SBL FUND
001 B000000 811-2753
001 C000000 9132953127
002 A000000 700 HARRISON STREET
002 B000000 TOPEKA
002 C000000 KS
002 D010000 66636
002 D020000 0001
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000 11
007 C010100  1
007 C020100 A
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007 C020200 B
007 C030200 N
007 C010300  3
007 C020300 C
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007 C020400 D
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007 C020800 K
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007 C020900 M
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007 C011000 10
<PAGE>      PAGE  2
007 C021000 N
007 C031000 N
007 C011100 11
007 C021100 O
007 C031100 N
007 C011200 12
007 C011300 13
007 C011400 14
007 C011500 15
007 C011600 16
007 C011700 17
007 C011800 18
007 C011900 19
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010 A00AA01 SECURITY MANAGEMENT COMPANY
010 B00AA01 84-01497
010 C01AA01 TOPEKA
010 C02AA01 KS
010 C03AA01 66636
010 C04AA01 0001
011 A00AA01 SECURITY DISTRIBUTORS, INC.
011 B00AA01 8-10781
011 C01AA01 TOPEKA
011 C02AA01 KS
011 C03AA01 66636
011 C04AA01 0001
012 A00AA01 SECURITY MANAGEMENT COMPANY
012 B00AA01 84-01497
012 C01AA01 TOPEKA
012 C02AA01 KS
012 C03AA01 66636
012 C04AA01 0001
013 A00AA01 ERNST & YOUNG LLP
013 B01AA01 KANSAS CITY
013 B02AA01 MO
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013 B04AA01 2100
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019 B00AA00   22
019 C00AA00 SECURITYFU
020 A000001 MERRILL LYNCH
020 B000001 13-5674085
020 C000001    114
020 A000002 SALOMON BROTHERS, INC.
020 B000002 13-3082694
020 C000002    101
020 A000003 MORGAN STANLEY & COMPANY, INC.
020 B000003 13-2655998
020 C000003     99
020 A000004 OPPENHEIMER & COMPANY
<PAGE>      PAGE  3
020 B000004 13-2798343
020 C000004     92
020 A000005 PRUDENTIAL-BACHE SECURITIES, INC.
020 B000005 22-2347336
020 C000005     76
020 A000006 WERTHEIM SCHRODER & COMPANY, INC.
020 B000006 13-2697272
020 C000006     73
020 A000007 GOLDMAN SACHS & COMPANY
020 B000007 13-5108880
020 C000007     69
020 A000008 INSTINET CORPORATION
020 B000008 13-3443395
020 C000008     59
020 A000009 PAINE WEBBER, INC.
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020 C000009     57
020 A000010 LAWRENCE (C.J.) AND COMPANY
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020 C000010     55
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022 A000001 MERRILL LYNCH
022 B000001 13-5674085
022 C000001    602967
022 D000001     35250
022 A000002 SMITH BARNEY, INC.
022 B000002 13-1912900
022 C000002     68686
022 D000002     60642
022 A000003 SECURITY CASH FUND
022 B000003 48-0911935
022 C000003    117382
022 D000003         0
022 A000004 CHEMICAL SECURITIES, INC.
022 B000004 13-3379014
022 C000004    114571
022 D000004         0
022 A000005 GOLDMAN SACHS & COMPANY
022 B000005 13-5108880
022 C000005     89872
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022 A000006 FIRST BOSTON CORPORATION (THE)
022 B000006 13-5659485
022 C000006     88922
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022 A000007 LEHMAN BROTHERS, INC.
022 B000007 13-2518466
022 C000007     55466
022 D000007     16175
022 A000008 NATIONSBANK
022 B000008 75-0520130
<PAGE>      PAGE  4
022 C000008     27731
022 D000008     28069
022 A000009 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP
022 B000009 13-2741729
022 C000009     19484
022 D000009      9050
022 A000010 SECURITY EQUITY FUND
022 B000010 48-6104426
022 C000010     10677
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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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008 D010201 TOPEKA
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008 D030201 66636
008 D040201 0001
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<PAGE>      PAGE  11
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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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<PAGE>      PAGE  19
015 A000401 CHASE MANHATTAN BANK, N.A.
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<PAGE>      PAGE  20
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<PAGE>      PAGE  21
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<PAGE>      PAGE  22
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<PAGE>      PAGE  30
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<PAGE>      PAGE  32
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<PAGE>      PAGE  33
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<PAGE>      PAGE  34
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<PAGE>      PAGE  35
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<PAGE>      PAGE  36
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<PAGE>      PAGE  37
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<PAGE>      PAGE  38
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<PAGE>      PAGE  39
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<PAGE>      PAGE  40
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<PAGE>      PAGE  41
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<PAGE>      PAGE  42
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<PAGE>      PAGE  43
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<PAGE>      PAGE  44
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<PAGE>      PAGE  45
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<PAGE>      PAGE  46
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050  001000 N
051  001000 N
052  001000 N
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<PAGE>      PAGE  47
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<PAGE>      PAGE  48
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<PAGE>      PAGE  49
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<PAGE>      PAGE  50
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<PAGE>      PAGE  52
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<PAGE>      PAGE  53
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SIGNATURE   JAMES R. SCHMANK                             
TITLE       V.P. AND TREASURER  
 


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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
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<NAME> SBL FUND
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   <NUMBER> 03
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000217087
<NAME> SBL FUND
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   <NUMBER> 04
   <NAME> SERIES D
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<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000217087
<NAME> SBL FUND
<SERIES>
   <NUMBER> 05
   <NAME> SERIES E
<MULTIPLIER> 1000
<CURRENCY> U.S. DOLLARS
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000217087
<NAME> SBL FUND
<SERIES>
   <NUMBER> 06
   <NAME> SERIES S
<MULTIPLIER> 1000
<CURRENCY> U.S. DOLLARS
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000217087
<NAME> SBL FUND
<SERIES>
   <NUMBER> 07
   <NAME> SERIES J
<MULTIPLIER> 1000
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<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000217087
<NAME> SBL FUND
<SERIES>
   <NUMBER> 08
   <NAME> SERIES K
<MULTIPLIER> 1000
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<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000217087
<NAME> SBL FUND
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   <NUMBER> 09
   <NAME> SERIES M
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<CURRENCY> U.S. DOLLARS
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000217087
<NAME> SBL FUND
<SERIES>
   <NUMBER> 10
   <NAME> SERIES N
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<S>                             <C>
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<NAME> SBL FUND
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