<PAGE> PAGE 1
000 A000000 04/30/95
000 C000000 0000022864
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 COMPOSITE EQUITY SERIES, INC.
001 B000000 811-565
001 C000000 5093533492
002 A000000 601 W MAIN, SUITE 801
002 B000000 SPOKANE
002 C000000 WA
002 D010000 99201
002 D020000 0613
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 1
007 C010100 1
007 C020100 COMPOSITE GROWTH & INCOME FUND
007 C030100 N
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 COMPOSITE MANAGEMENT & RESEARCH COMPANY
008 B00AA01 A
008 C00AA01 801-4855
008 D01AA01 SEATTLE
008 D02AA01 WA
008 D03AA01 98104
011 A00AA01 MURPHEY FAVRE, INC.
011 B00AA01 8-3641
011 C01AA01 SPOKANE
011 C02AA01 WA
011 C03AA01 99201
011 C04AA01 0613
012 A00AA01 MURPHEY FAVRE SECURITIES SERVICES, INC.
012 B00AA01 84-
012 C01AA01 SPOKANE
012 C02AA01 WA
<PAGE> PAGE 2
012 C03AA01 99201
012 C04AA01 0613
013 A00AA01 LEMASTER & DANIELS
013 B01AA01 SPOKANE
013 B02AA01 WA
013 B03AA01 99201
014 A00AA01 MURPHEY FAVRE, INC.
014 B00AA01 8-3641
015 A00AA01 INVESTORS FIDUCIARY TRUST, COMPANY
015 B00AA01 C
015 C01AA01 KANSAS CITY
015 C02AA01 MO
015 C03AA01 64105
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 12
019 C00AA00 COMPOSITES
020 A000001 MERRILL LYNCH ET AL
020 B000001 13-5674085
020 C000001 9
020 A000002 MORGAN STANLEY & COMPANY
020 B000002 13-2655998
020 C000002 8
020 A000003 LIPPER ANALYTICAL
020 B000003 13-2792478
020 C000003 5
020 A000004 PRUDENTIAL SECURITIES
020 B000004 22-2347336
020 C000004 5
020 A000005 DONALDSON LUFKIN & JENRETTE
020 B000005 13-2741729
020 C000005 4
020 A000006 BROADCORT CAPITAL CORP.
020 B000006 13-3144415
020 C000006 4
020 A000007 PAINE WEBBER
020 B000007 13-2638166
020 C000007 3
020 A000008 AUTRANET, PERSHING, INFOVEST
020 B000008 13-2961507
020 C000008 3
020 A000009 SMITH BARNEY SHEARSON
020 B000009 13-2869611
020 C000009 3
020 A000010 WEEDEN & CO.
020 B000010 13-3364318
020 C000010 2
021 000000 49
022 A000001 DONALDSON LUFKIN, & JENRETTE
022 B000001 13-2741729
<PAGE> PAGE 3
022 C000001 90740
022 D000001 0
022 A000002 FIRST BOSTON
022 B000002 13-5659485
022 C000002 65140
022 D000002 0
022 A000003 MERRILL LYNCH ET AL
022 B000003 13-5674085
022 C000003 63667
022 D000003 1231
022 A000004 UNITED MISSOURI BANK
022 B000004 44-0201230
022 C000004 56950
022 D000004 0
022 A000005 GOLDMAN SACHS
022 B000005 13-5108880
022 C000005 8974
022 D000005 0
022 A000006 SMITH BARNEY SHEARSON
022 B000006 13-2869611
022 C000006 1304
022 D000006 531
022 A000007 PRUDENTIAL SECURITIES
022 B000007 22-2347336
022 C000007 25
022 D000007 1138
022 A000008 CITICORP
022 B000008 13-3187336
022 C000008 972
022 D000008 0
022 A000009 RAGEN MACKENZIE
022 B000009 91-1374280
022 C000009 401
022 D000009 354
022 A000010 JEFFERIES & COMPANY, INC.
022 B000010 95-2622900
022 C000010 165
022 D000010 370
023 C000000 288338
023 D000000 4106
024 00AA00 N
025 D00AA01 0
025 D00AA02 0
025 D00AA03 0
025 D00AA04 0
025 D00AA05 0
025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
026 A000000 N
026 B000000 Y
<PAGE> PAGE 4
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
028 A01AA00 1706
028 A02AA00 0
028 A03AA00 0
028 A04AA00 1589
028 B01AA00 1514
028 B02AA00 3566
028 B03AA00 0
028 B04AA00 890
028 C01AA00 1439
028 C02AA00 0
028 C03AA00 0
028 C04AA00 1859
028 D01AA00 2192
028 D02AA00 0
028 D03AA00 0
028 D04AA00 2035
028 E01AA00 2852
028 E02AA00 357
028 E03AA00 0
028 E04AA00 1430
028 F01AA00 3535
028 F02AA00 0
028 F03AA00 0
028 F04AA00 844
028 G01AA00 13238
028 G02AA00 3923
028 G03AA00 0
028 G04AA00 8647
028 H00AA00 3596
029 00AA00 Y
030 A00AA00 150
030 B00AA00 4.50
030 C00AA00 0.00
031 A00AA00 97
031 B00AA00 0
032 00AA00 2
033 00AA00 51
034 00AA00 Y
035 00AA00 4
036 A00AA00 N
036 B00AA00 0
037 00AA00 Y
038 00AA00 0
<PAGE> PAGE 5
039 00AA00 N
040 00AA00 Y
041 00AA00 Y
042 A00AA00 35
042 B00AA00 4
042 C00AA00 0
042 D00AA00 2
042 E00AA00 59
042 F00AA00 0
042 G00AA00 0
042 H00AA00 0
043 00AA00 143
044 00AA00 0
045 00AA00 Y
046 00AA00 N
047 00AA00 Y
048 00AA00 0.000
048 A01AA00 250000
048 A02AA00 0.625
048 B01AA00 0
048 B02AA00 0.000
048 C01AA00 0
048 C02AA00 0.000
048 D01AA00 0
048 D02AA00 0.000
048 E01AA00 0
048 E02AA00 0.000
048 F01AA00 0
048 F02AA00 0.000
048 G01AA00 0
048 G02AA00 0.000
048 H01AA00 0
048 H02AA00 0.000
048 I01AA00 0
048 I02AA00 0.000
048 J01AA00 0
048 J02AA00 0.000
048 K01AA00 250000
048 K02AA00 0.500
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 N
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 Y
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
<PAGE> PAGE 6
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 Y
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 Y
055 A00AA00 N
055 B00AA00 N
056 00AA00 Y
057 00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 50
062 A00AA00 N
062 B00AA00 0.0
062 C00AA00 0.0
062 D00AA00 0.0
062 E00AA00 0.0
062 F00AA00 0.0
062 G00AA00 0.0
062 H00AA00 0.0
062 I00AA00 0.0
062 J00AA00 0.0
062 K00AA00 0.0
062 L00AA00 0.0
062 M00AA00 0.0
062 N00AA00 0.0
062 O00AA00 0.0
062 P00AA00 0.0
062 Q00AA00 0.0
062 R00AA00 0.0
063 A00AA00 0
063 B00AA00 0.0
066 A00AA00 Y
066 B00AA00 N
066 C00AA00 N
066 D00AA00 N
066 E00AA00 Y
066 F00AA00 N
066 G00AA00 N
067 00AA00 N
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
070 A01AA00 Y
070 A02AA00 Y
070 B01AA00 Y
<PAGE> PAGE 7
070 B02AA00 N
070 C01AA00 Y
070 C02AA00 N
070 D01AA00 N
070 D02AA00 N
070 E01AA00 N
070 E02AA00 N
070 F01AA00 N
070 F02AA00 N
070 G01AA00 N
070 G02AA00 N
070 H01AA00 N
070 H02AA00 N
070 I01AA00 N
070 I02AA00 N
070 J01AA00 N
070 J02AA00 N
070 K01AA00 N
070 K02AA00 N
070 L01AA00 Y
070 L02AA00 Y
070 M01AA00 N
070 M02AA00 N
070 N01AA00 Y
070 N02AA00 N
070 O01AA00 N
070 O02AA00 N
070 P01AA00 N
070 P02AA00 N
070 Q01AA00 N
070 Q02AA00 N
070 R01AA00 N
070 R02AA00 N
071 A00AA00 19732
071 B00AA00 12469
071 C00AA00 105067
071 D00AA00 12
072 A00AA00 6
072 B00AA00 198
072 C00AA00 1292
072 D00AA00 0
072 E00AA00 0
072 F00AA00 330
072 G00AA00 0
072 H00AA00 0
072 I00AA00 62
072 J00AA00 7
072 K00AA00 24
072 L00AA00 21
072 M00AA00 6
072 N00AA00 17
<PAGE> PAGE 8
072 O00AA00 0
072 P00AA00 0
072 Q00AA00 0
072 R00AA00 7
072 S00AA00 1
072 T00AA00 143
072 U00AA00 0
072 V00AA00 0
072 W00AA00 -3
072 X00AA00 615
072 Y00AA00 0
072 Z00AA00 875
072AA00AA00 1604
072BB00AA00 0
072CC01AA00 5779
072CC02AA00 0
072DD01AA00 834
072DD02AA00 16
072EE00AA00 3332
073 A01AA00 0.1020
073 A02AA00 0.0690
073 B00AA00 0.4010
073 C00AA00 0.0000
074 A00AA00 23
074 B00AA00 2714
074 C00AA00 0
074 D00AA00 4372
074 E00AA00 594
074 F00AA00 111031
074 G00AA00 0
074 H00AA00 0
074 I00AA00 0
074 J00AA00 159
074 K00AA00 0
074 L00AA00 448
074 M00AA00 15
074 N00AA00 119356
074 O00AA00 1704
074 P00AA00 0
074 Q00AA00 0
074 R01AA00 0
074 R02AA00 0
074 R03AA00 0
074 R04AA00 143
074 S00AA00 0
074 T00AA00 117509
074 U01AA00 8567
074 U02AA00 374
074 V01AA00 13.14
074 V02AA00 13.11
074 W00AA00 0.0000
<PAGE> PAGE 9
074 X00AA00 9147
074 Y00AA00 0
075 A00AA00 0
075 B00AA00 107244
076 00AA00 0.00
077 A000000 N
078 000000 N
080 A00AA00 UNITED PACIFIC INSURANCE COMPANY
080 B00AA00 RELIANCE NATIONAL INSURANCE COMPANY
080 C00AA00 6000
081 A00AA00 Y
081 B00AA00 11
082 A00AA00 N
082 B00AA00 0
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
086 A01AA00 0
086 A02AA00 0
086 B01AA00 0
086 B02AA00 0
086 C01AA00 0
086 C02AA00 0
086 D01AA00 0
086 D02AA00 0
086 E01AA00 0
086 E02AA00 0
086 F01AA00 0
086 F02AA00 0
SIGNATURE JOHN T. WEST
TITLE SECRETARY
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
REGISTRANT'S SEMIANNUAL REPORT AND FORM N-SAR WHICH ARE ON FILE WITH THE
SECURITIES AND EXCHANGE COMMISSION AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH DOCUMENTS.
</LEGEND>
<CIK> 0000022864
<NAME> COMPOSITE EQUITY SERIES, INC.
<SERIES>
<NUMBER> 1
<NAME> COMPOSITE GROWTH & INCOME FUND CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1995
<PERIOD-START> NOV-01-1994
<PERIOD-END> APR-30-1995
<INVESTMENTS-AT-COST> 98,367,422
<INVESTMENTS-AT-VALUE> 118,710,606
<RECEIVABLES> 607,886
<ASSETS-OTHER> 37,911
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 119,356,403
<PAYABLE-FOR-SECURITIES> 1,703,709
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 143,276
<TOTAL-LIABILITIES> 1,846,985
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 95,455,002
<SHARES-COMMON-STOCK> 8,566,880
<SHARES-COMMON-PRIOR> 8,093,364
<ACCUMULATED-NII-CURRENT> 107,084
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,604,148
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 20,343,184
<NET-ASSETS> 112,610,362
<DIVIDEND-INCOME> 1,292,128
<INTEREST-INCOME> 198,273
<OTHER-INCOME> 0
<EXPENSES-NET> 615,719
<NET-INVESTMENT-INCOME> 874,682
<REALIZED-GAINS-CURRENT> 1,604,148
<APPREC-INCREASE-CURRENT> 5,778,587
<NET-CHANGE-FROM-OPS> 8,257,417
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 834,082
<DISTRIBUTIONS-OF-GAINS> 3,249,511
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,131,095
<NUMBER-OF-SHARES-REDEEMED> 684,585
<SHARES-REINVESTED> 27,006
<NET-CHANGE-IN-ASSETS> 12,590,356
<ACCUMULATED-NII-PRIOR> 82,183
<ACCUMULATED-GAINS-PRIOR> 3,331,880
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 329,669
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 615,719
<AVERAGE-NET-ASSETS> 107,243,983
<PER-SHARE-NAV-BEGIN> 12.71
<PER-SHARE-NII> .10
<PER-SHARE-GAIN-APPREC> .83
<PER-SHARE-DIVIDEND> .10
<PER-SHARE-DISTRIBUTIONS> .40
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.14
<EXPENSE-RATIO> 1.15
<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
REGISTRANT'S SEMIANNUAL REPORT AND FORM N-SAR WHICH ARE ON FILE WITH THE
SECURITIES AND EXCHANGE COMMISSION AND IS QUALIFIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH DOCUMENTS.
</LEGEND>
<CIK> 0000022864
<NAME> COMPOSITE EQUITY SERIES, INC.
<SERIES>
<NUMBER> 1
<NAME> COMPOSITE GROWTH & INCOME FUND CLASS B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1995
<PERIOD-START> NOV-01-1994
<PERIOD-END> APR-30-1995
<INVESTMENTS-AT-COST> 98,367,422
<INVESTMENTS-AT-VALUE> 118,710,606
<RECEIVABLES> 607,886
<ASSETS-OTHER> 37,911
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 119,356,403
<PAYABLE-FOR-SECURITIES> 1,703,709
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 143,276
<TOTAL-LIABILITIES> 1,846,985
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 95,455,002
<SHARES-COMMON-STOCK> 373,746
<SHARES-COMMON-PRIOR> 164,216
<ACCUMULATED-NII-CURRENT> 107,084
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,604,148
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 20,343,184
<NET-ASSETS> 4,899,056
<DIVIDEND-INCOME> 1,292,128
<INTEREST-INCOME> 198,273
<OTHER-INCOME> 0
<EXPENSES-NET> 615,719
<NET-INVESTMENT-INCOME> 874,682
<REALIZED-GAINS-CURRENT> 1,604,148
<APPREC-INCREASE-CURRENT> 5,778,587
<NET-CHANGE-FROM-OPS> 8,257,417
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 15,699
<DISTRIBUTIONS-OF-GAINS> 82,370
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 221,745
<NUMBER-OF-SHARES-REDEEMED> 12,855
<SHARES-REINVESTED> 640
<NET-CHANGE-IN-ASSETS> 12,590,356
<ACCUMULATED-NII-PRIOR> 82,183
<ACCUMULATED-GAINS-PRIOR> 3,331,880
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 329,669
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 615,719
<AVERAGE-NET-ASSETS> 107,243,983
<PER-SHARE-NAV-BEGIN> 12.68
<PER-SHARE-NII> .06
<PER-SHARE-GAIN-APPREC> .84
<PER-SHARE-DIVIDEND> .07
<PER-SHARE-DISTRIBUTIONS> .40
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.11
<EXPENSE-RATIO> 1.91
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
