SPECIAL PORTFOLIOS INC
NSAR-A, 1995-06-28
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<PAGE>      PAGE  1
000 A000000 04/30/95
000 C000000 0000054047
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 SPECIAL PORTFOLIOS, INC.
001 B000000 811-1341
001 C000000 6127384000
002 A000000 500 BIELENBERG DRIVE
002 B000000 WOODBURY
002 C000000 MN
002 D010000 55125
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  2
007 C010100  1
007 C020100 STOCK PORTFOLIO
007 C030100 N
007 C010200  2
007 C020200 CASH PORTFOLIO
007 C030200 N
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 FORTIS ADVISERS, INC.
008 B00AA01 A
008 C00AA01 801-07877
008 D01AA01 WOODBURY
008 D02AA01 MN
008 D03AA01 55125
011 A00AA01 FORTIS INVESTORS, INC.
011 B00AA01 8-13846
011 C01AA01 WOODBURY
011 C02AA01 MN
011 C03AA01 55125
012 A00AA01 FORTIS ADVISERS, INC.
012 B00AA01 85-07877
012 C01AA01 WOODBURY
012 C02AA01 MN
<PAGE>      PAGE  2
012 C03AA01 55125
013 A00AA01 KPMG PEAT MARWICK
013 B01AA01 MINNEAPOLIS
013 B02AA01 MN
013 B03AA01 55402
015 A00AA01 NORWEST BANK MINNESOTA
015 B00AA01 C
015 C01AA01 MINNEAPOLIS
015 C02AA01 MN
015 C03AA01 55479
015 E01AA01 X
015 A00AA02 FIRST TRUST COMPANY
015 B00AA02 S
015 C01AA02 ST. PAUL
015 C02AA02 MN
015 C03AA02 55101
015 E01AA02 X
018  00AA00 Y
019 A00AA00 Y
019 B00AA00   28
019 C00AA00 FORTISFUND
020 A000001 O'NEIL (WILLIAM) & CO., INC.
020 B000001 95-2269163
020 C000001      3
020 A000002 BRIDGE TRADING COMPANY
020 B000002 43-1034850
020 C000002      2
020 A000003 ROBERTSON, STEPHENS & COMPANY
020 B000003 94-2524501
020 C000003      2
020 A000004 PAINE WEBBER, INC.
020 B000004 13-2638166
020 C000004      2
020 A000005 SOUNDVIEW FINANCIAL GROUP, INC.
020 B000005 13-2976216
020 C000005      2
020 A000006 MONTGOMERY SECURITIES
020 B000006 94-1701676
020 C000006      1
020 A000007 DONALDSON, LUFKIN & JENRETTE SECURITIES
020 B000007 13-2741729
020 C000007      1
020 A000008 GOLDMAN, SACHS & CO.
020 B000008 13-5108880
020 C000008      1
020 A000009 COWEN & CO.
020 B000009 13-5616116
020 C000009      1
020 A000010 INFERENTIAL FOCUS
020 B000010 13-3177901
020 C000010      1
<PAGE>      PAGE  3
021  000000       23
022 A000001 FIRST BANK (N.A.)
022 B000001 41-0256395
022 C000001     24319
022 D000001     21904
022 A000002 NATIONAL WESTMINSTER BANK
022 B000002 11-0773597
022 C000002     22835
022 D000002         0
022 A000003 GENERAL MOTORS ACCEPTANCE CORP.
022 B000003 38-0572512
022 C000003     20115
022 D000003         0
022 A000004 PIPER, JAFFRAY & HOPWOOD, INC.
022 B000004 41-0953246
022 C000004     13973
022 D000004         0
022 A000005 FORD MOTOR CREDIT CORP.
022 B000005 38-1612444
022 C000005      8274
022 D000005         0
022 A000006 BROWN (ALEX) & SONS, INC.
022 B000006 52-0256630
022 C000006      1503
022 D000006       581
022 A000007 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
022 B000007 13-5674085
022 C000007      1990
022 D000007         0
022 A000008 SMITH BARNEY, HARRIS UPHAM, SHEARSON
022 B000008 13-1912900
022 C000008      1712
022 D000008       122
022 A000009 GENERAL ELECTRIC CREDIT CORP.
022 B000009 13-1500700
022 C000009      1299
022 D000009         0
022 A000010 NORWEST INVESTMENT SERVICES
022 B000010 41-1508325
022 C000010      1298
022 D000010         0
023 C000000     103796
023 D000000      25785
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
<PAGE>      PAGE  4
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027  000000 Y
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044  00AA00      0
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024  000100 Y
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025 B000101 41-0256395
025 C000101 D
025 D000101    3578
025 A000102 GOLDMAN, SACHS & CO.
025 B000102 13-5108880
025 C000102 D
025 D000102    1507
025 A000103 FORD MOTOR CREDIT CORP.
025 B000103 38-1612444
025 C000103 D
025 D000103    3396
025 A000104 GENERAL MOTORS ACCEPTANCE CORP.
025 B000104 38-0572512
025 C000104 D
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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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070 B010100 N
070 B020100 N
070 C010100 N
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 N
070 L010100 Y
070 L020100 Y
070 M010100 N
070 M020100 N
070 N010100 N
070 N020100 N
070 O010100 N
070 O020100 N
070 P010100 Y
070 P020100 N
<PAGE>      PAGE  8
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
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072DD020100        0
072EE000100      420
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073 A020100   0.0000
073 B000100   0.1860
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<PAGE>      PAGE  9
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076  000100     0.00
024  000200 Y
025 A000201 FORD MOTOR CREDIT CORP.
025 B000201 38-1612444
025 C000201 D
025 D000201     985
025 A000202 FIRST BANK (N.A.)
025 B000202 41-0256395
025 C000202 D
025 D000202     854
025 A000203 GENERAL MOTORS ACCEPTANCE CORP.
025 B000203 38-0572512
025 C000203 D
025 D000203    1490
025 A000204 GENERAL ELECTRIC CREDIT CORP.
025 B000204 13-1500700
025 C000204 D
025 D000204    1019
025 A000205 SMITH BARNEY, HARRIS UPHAM, SHEARSON
025 B000205 13-1912900
025 C000205 D
025 D000205     998
025 D000206       0
025 D000207       0
025 D000208       0
<PAGE>      PAGE  10
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045  000200 Y
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048 I020200 0.000
<PAGE>      PAGE  11
048 J010200        0
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048 K020200 0.250
049  000200 N
050  000200 N
051  000200 N
052  000200 N
053 A000200 Y
053 B000200 Y
053 C000200 N
054 A000200 Y
054 B000200 Y
054 C000200 Y
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054 E000200 N
054 F000200 N
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<PAGE>      PAGE  12
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070 B020200 N
070 C010200 N
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 N
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
070 K020200 N
070 L010200 Y
070 L020200 N
070 M010200 N
070 M020200 N
070 N010200 N
070 N020200 N
070 O010200 N
070 O020200 N
070 P010200 Y
070 P020200 N
070 Q010200 N
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070 R010200 N
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071 B000200      5349
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071 D000200   20
<PAGE>      PAGE  13
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<PAGE>      PAGE  14
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SIGNATURE   TAMARA L. FAGELY                             
TITLE       TREASURER           
 


<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENT OF ASSETS AND LIABILITIES, STATEMENT OF OPERATIONS, AND STATEMENT OF
CHANGE IN NET ASSETS FOUND ON PAGES 5 - 15 OF THE SEMI ANNUAL SHAREHOLDER
REPORT.
</LEGEND>
<CIK> 0000054047
<NAME> SPECIAL PORTFOLIOS, INC.
<SERIES>
   <NUMBER> 2
   <NAME> CASH PORTFOLIO
<MULTIPLIER> 1
       
<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>                       26,567,237
<INVESTMENTS-AT-VALUE>                      26,269,734
<RECEIVABLES>                                  476,749
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                            35,911
<TOTAL-ASSETS>                              26,782,394
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    28,146,205
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<SHARES-COMMON-PRIOR>                        2,913,263
<ACCUMULATED-NII-CURRENT>                      150,784
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                    (1,234,038)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     (297,503)
<NET-ASSETS>                                26,765,448
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                              888,509
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                (59,275)
<NET-INVESTMENT-INCOME>                        829,234
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<NET-CHANGE-FROM-OPS>                          960,187
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (803,147)
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<NUMBER-OF-SHARES-REDEEMED>                  (742,313)
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<NET-CHANGE-IN-ASSETS>                       (805,070)
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<ACCUMULATED-GAINS-PRIOR>                  (1,062,702)
<OVERDISTRIB-NII-PRIOR>                              0
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<INTEREST-EXPENSE>                                   0
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<AVERAGE-NET-ASSETS>                        28,471,000
<PER-SHARE-NAV-BEGIN>                             9.46
<PER-SHARE-NII>                                    .28
<PER-SHARE-GAIN-APPREC>                            .04
<PER-SHARE-DIVIDEND>                             (.27)
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<EXPENSE-RATIO>                                    .42<F1>
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<FN>
<F1>ANNUALIZED
</FN>
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENT OF ASSETS AND LIABILITIES, STATEMENT OF OPERATIONS, AND STATEMENT OF
CHANGES IN NET ASSETS FOUND ON PAGES 5 - 15 OF THE SEMI-ANNUAL SHAREHOLDER
REPORT.
</LEGEND>
<CIK> 0000054047
<NAME> SPECIAL PORTFOLIOS, INC.
<SERIES>
   <NUMBER> 1
   <NAME> STOCK PORTFOLIO
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1995
<PERIOD-START>                             NOV-01-1994
<PERIOD-END>                               APR-30-1995
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<INVESTMENTS-AT-VALUE>                      82,309,204
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<OVERDISTRIBUTION-GAINS>                             0
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<OTHER-INCOME>                                       0
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<NET-INVESTMENT-INCOME>                         11,958
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<APPREC-INCREASE-CURRENT>                  (1,637,356)
<NET-CHANGE-FROM-OPS>                        1,677,269
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                     (420,000)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        235,090
<NUMBER-OF-SHARES-REDEEMED>                  (109,902)
<SHARES-REINVESTED>                             12,916
<NET-CHANGE-IN-ASSETS>                       5,871,285
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                      416,234
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          383,880
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                437,554
<AVERAGE-NET-ASSETS>                        77,633,000
<PER-SHARE-NAV-BEGIN>                            33.94
<PER-SHARE-NII>                                    .01
<PER-SHARE-GAIN-APPREC>                            .68
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                        (.19)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              34.44
<EXPENSE-RATIO>                                   1.13<F1>
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
<FN>
<F1>ANNUALIZED
</FN>
        

</TABLE>


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