<PAGE> PAGE 1
000 A000000 12/31/95
000 C000000 357247
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 CENTENNIAL GOVERNMENT TRUST
001 B000000 811-3391
001 C000000 3036713200
002 A000000 3410 SOUTH GALENA STREET
002 B000000 DENVER
002 C000000 CO
002 D010000 80231
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
020 A000001 FIRST CHICAGO CAPITAL MARKET
020 B000001 36-3595942
020 C000001 4550
020 A000002 MORGAN GUARANTY TRUST CO.
020 B000002 13-5123346
020 C000002 4241
020 A000003 FIRST BOSTON CORP. (THE)
020 B000003 13-5659485
020 C000003 1961
020 A000004 PAINEWEBBER, INC.
020 B000004 13-2638166
020 C000004 1833
020 A000005 ZION FIRST NATIONAL BANK
020 B000005 87-0189025
020 C000005 78
020 A000006 FUJI SECURITIES, INC.
020 B000006 36-2880742
020 C000006 35
020 A000007 CHESWICK SECURITIES, INC.
020 B000007 23-2496144
020 C000007 19
020 A000008 PRUDENTIAL SECURITIES, INC.
020 B000008 22-2347336
020 C000008 18
020 A000009 SANWA SECURITIES (USA) CO., LP
020 B000009 13-3046258
020 C000009 14
020 A000010 HONG KONG & SHANGHAI BANK CORP.
020 B000010 FOREIGN
<PAGE> PAGE 2
020 C000010 12
021 000000 12804
022 A000001 PAINEWEBBER, INC.
022 B000001 13-2638166
022 C000001 384546
022 D000001 0
022 A000002 FIRST CHICAGO CAPITAL MARKET
022 B000002 36-3595942
022 C000002 286732
022 D000002 0
022 A000003 FUJI SECURITIES, INC.
022 B000003 36-2880742
022 C000003 113069
022 D000003 0
022 A000004 FIRST BOSTON CORP. (THE)
022 B000004 13-5659485
022 C000004 109034
022 D000004 0
022 A000005 CHESWICK SECURITIES, INC.
022 B000005 23-2496144
022 C000005 59271
022 D000005 0
022 A000006 PRUDENTIAL SECURITIES, INC.
022 B000006 22-2347336
022 C000006 55584
022 D000006 0
022 A000007 ZION FIRST NATIONAL BANK
022 B000007 87-0189025
022 C000007 48834
022 D000007 0
022 A000008 SANWA SECURITIES (USA) CO., LP
022 B000008 13-3046258
022 C000008 44774
022 D000008 0
022 A000009 HONG KONG & SHANGHAI BANKNNER, & SMITH, INC.
022 B000009 FOREIGN
022 C000009 39431
022 D000009 0
022 A000010 LEHMAN BROTHERS, INC.
022 B000010 13-2518466
022 C000010 35633
022 D000010 0
023 C000000 1294396
023 D000000 53302
028 A010000 195800
028 A020000 4346
028 A030000 0
028 A040000 204873
028 B010000 261189
028 B020000 3487
028 B030000 0
<PAGE> PAGE 3
028 B040000 241672
028 C010000 201583
028 C020000 4368
028 C030000 0
028 C040000 198528
028 D010000 225136
028 D020000 3517
028 D030000 0
028 D040000 200870
028 E010000 226924
028 E020000 3512
028 E030000 0
028 E040000 230827
028 F010000 252796
028 F020000 5732
028 F030000 0
028 F040000 258261
028 G010000 1363428
028 G020000 24962
028 G030000 0
028 G040000 1335031
028 H000000 0
042 A000000 0
042 B000000 0
042 C000000 0
042 D000000 100
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 939
044 000000 0
055 A000000 Y
055 B000000 N
056 000000 N
057 000000 N
062 A000000 Y
062 B000000 0.0
062 C000000 68.1
062 D000000 32.1
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
<PAGE> PAGE 4
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 31
063 B000000 0.0
064 A000000 Y
064 B000000 N
070 A010000 Y
070 A020000 Y
070 B010000 N
070 B020000 N
070 C010000 N
070 C020000 N
070 D010000 N
070 D020000 N
070 E010000 N
070 E020000 N
070 F010000 N
070 F020000 N
070 G010000 N
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 N
070 J020000 N
070 K010000 N
070 K020000 N
070 L010000 N
070 L020000 N
070 M010000 N
070 M020000 N
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 Y
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 0
071 B000000 0
071 C000000 0
071 D000000 0
072 A000000 6
072 B000000 27175
072 C000000 0
072 D000000 0
<PAGE> PAGE 5
072 E000000 0
072 F000000 2175
072 G000000 0
072 H000000 0
072 I000000 243
072 J000000 85
072 K000000 11
072 L000000 14
072 M000000 0
072 N000000 149
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 6
072 S000000 10
072 T000000 939
072 U000000 0
072 V000000 0
072 W000000 5
072 X000000 3637
072 Y000000 0
072 Z000000 23538
072AA000000 149
072BB000000 111
072CC010000 0
072CC020000 0
072DD010000 23538
072DD020000 0
072EE000000 0
073 A010000 0.0277
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 1597
074 B000000 304200
074 C000000 644282
074 D000000 0
074 E000000 0
074 F000000 0
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 0
074 K000000 0
074 L000000 10645
074 M000000 43
074 N000000 960767
074 O000000 0
074 P000000 20
074 Q000000 0
074 R010000 0
<PAGE> PAGE 6
074 R020000 0
074 R030000 0
074 R040000 14166
074 S000000 0
074 T000000 946581
074 U010000 947306
074 U020000 0
074 V010000 1.00
074 V020000 0.00
074 W000000 0.9992
074 X000000 43121
074 Y000000 0
075 A000000 927523
075 B000000 0
076 000000 0.00
077 A000000 N
078 000000 N
SIGNATURE GEORGE C. BOWEN
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000357247
<NAME> CENTENNIAL GOVERNMENT TRUST
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1996
<PERIOD-START> JUL-01-1995
<PERIOD-END> DEC-31-1995
<INVESTMENTS-AT-COST> 948481599
<INVESTMENTS-AT-VALUE> 948481599
<RECEIVABLES> 10645130
<ASSETS-OTHER> 43235
<OTHER-ITEMS-ASSETS> 1596902
<TOTAL-ASSETS> 960766866
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 14185823
<TOTAL-LIABILITIES> 14185823
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 947305887
<SHARES-COMMON-STOCK> 947305887
<SHARES-COMMON-PRIOR> 893946917
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (724844)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 946581043
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 27175448
<OTHER-INCOME> 0
<EXPENSES-NET> 3636887
<NET-INVESTMENT-INCOME> 23538561
<REALIZED-GAINS-CURRENT> 37828
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 23576389
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 23538561
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1363428129
<NUMBER-OF-SHARES-REDEEMED> 1335031240
<SHARES-REINVESTED> 24962081
<NET-CHANGE-IN-ASSETS> 53396798
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (762672)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2175228
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3636887
<AVERAGE-NET-ASSETS> 927523000
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .03
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> .03
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .78
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
