CGM TRUST
NSAR-A, 1997-08-28
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<PAGE>      PAGE  1
000 A000000 06/30/97
000 C000000 0000060335
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 U
001 A000000 CGM TRUST
001 B000000 811-82
001 C000000 6178597714
002 A000000 ONE INTERNATIONAL PLACE
002 B000000 BOSTON
002 C000000 MA
002 D010000 02110
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  4
007 C010100  1
007 C020100 CGM MUTUAL FUND
007 C030100 N
007 C010200  2
007 C020200 CGM FIXED INCOME FUND
007 C030200 N
007 C010300  3
007 C020300 CGM AMERICAN TAX FREE FUND
007 C030300 N
007 C010400  4
007 C020400 CGM REALTY FUND
007 C030400 N
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
020 A000001 MERRILL LYNCH PIERCE FENNER & SMITH
020 B000001 13-5674085
020 C000001    282
020 A000002 WERTHEIM & CO., INC.
020 B000002 13-2697272
020 C000002    471
020 A000003 ALEX BROWN & SONS
020 B000003 52-0256630
020 C000003    213
020 A000004 GOLDMAN SACHS & CO.
020 B000004 13-5108880
<PAGE>      PAGE  2
020 C000004    200
020 A000005 DONLADSON LUFKIN JENRETTE & CO.
020 B000005 13-5033225
020 C000005    294
020 A000006 PAINE WEBBER INC.
020 B000006 13-2638166
020 C000006    192
020 A000007 ROBINSON HUMPHREY
020 B000007 58-1472560
020 C000007    194
020 A000008 LEHMAN BROTHERS
020 C000008    708
020 A000009 WILLIAM BLAIR & CO.
020 B000009 36-2214610
020 C000009    310
020 A000010 PRUDENTIAL SECURITIES INC.
020 B000010 22-2347336
020 C000010    347
021  000000     5803
022 A000001 SALOMAN BROTHERS INC.
022 B000001 13-3082694
022 C000001    580778
022 D000001     29361
022 A000002 AMERICAN EXPRESS CO.
022 B000002 13-2518466
022 C000002    627340
022 D000002         0
022 A000003 MERRILL LYNCH PIERCE FENNER & SMITH, INC.
022 B000003 13-5674085
022 C000003     93292
022 D000003    210160
022 A000004 WERTHEIM & CO., INC.
022 B000004 13-2697272
022 C000004    126577
022 D000004    326245
022 A000005 ALEX BROWN & SONS
022 B000005 52-0256630
022 C000005    134456
022 D000005     82396
022 A000006 DONALDSON LUFKIN JENRETTE & CO.
022 B000006 13-5033225
022 C000006    193890
022 D000006    128747
022 A000007 MONTGOMERY SECURITIES
022 B000007 94-1701676
022 C000007     95464
022 D000007    110385
022 A000008 WILLIAM BLAIR & CO.
022 B000008 58-1472560
022 C000008    155628
022 D000008     70726
<PAGE>      PAGE  3
022 A000009 CHEVRON OIL
022 B000009 25-1215010
022 C000009    469830
022 D000009         0
022 A000010 LEHMAN BROTHERS
022 C000010    185976
022 D000010    121717
023 C000000    4400528
023 D000000    2521363
077 A000000 Y
077 B000000 N
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078  000000 N
024  000100 N
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<PAGE>      PAGE  4
028 F020100         0
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<PAGE>      PAGE  5
062 N000100   0.0
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070 E020100 N
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070 F020100 N
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070 G020100 N
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070 J020100 N
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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076  000100     0.00
024  000200 N
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<PAGE>      PAGE  8
028 H000200         0
045  000200 Y
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048 H020200 0.000
048 I010200        0
048 I020200 0.000
048 J010200        0
048 J020200 0.000
048 K010200   500000
048 K020200 0.400
055 A000200 N
055 B000200 N
056  000200 Y
057  000200 N
062 A000200 Y
062 B000200   6.8
062 C000200   0.0
062 D000200   0.0
062 E000200   0.0
062 F000200   0.0
062 G000200   0.0
062 H000200   0.0
062 I000200   2.6
062 J000200   0.0
062 K000200   0.0
062 L000200   0.0
062 M000200   2.3
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062 O000200   0.0
062 P000200  51.8
062 Q000200   0.0
062 R000200  36.5
063 A000200   0
063 B000200  7.1
<PAGE>      PAGE  9
064 A000200 N
064 B000200 N
070 A010200 Y
070 A020200 N
070 B010200 N
070 B020200 N
070 C010200 Y
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 Y
070 M010200 N
070 M020200 N
070 N010200 N
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 N
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200     38948
071 B000200     31165
071 C000200     34604
071 D000200   90
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<PAGE>      PAGE  10
072 J000200       28
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072 X000200      273
072 Y000200       95
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072DD010200     1182
072DD020200        0
072EE000200        0
073 A010200   0.3200
073 A020200   0.0000
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073 C000200   0.0000
074 A000200        2
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074 C000200     4126
074 D000200    23601
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074 S000200        0
074 T000200    43656
<PAGE>      PAGE  11
074 U010200     3792
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074 V020200     0.00
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076  000200     0.00
028 A010300       484
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<PAGE>      PAGE  12
062 I000300   4.4
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062 O000300  92.7
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062 R000300   2.9
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063 B000300 10.7
064 A000300 N
064 B000300 N
070 A010300 Y
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070 B020300 N
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070 D010300 N
070 D020300 N
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070 E020300 N
070 F010300 N
070 F020300 N
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070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
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070 K020300 N
070 L010300 N
070 L020300 N
070 M010300 N
070 M020300 N
070 N010300 N
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070 P020300 N
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071 A000300      8788
<PAGE>      PAGE  13
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<PAGE>      PAGE  14
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<PAGE>      PAGE  15
055 A000400 N
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<PAGE>      PAGE  16
070 O020400 N
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<PAGE>      PAGE  17
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SIGNATURE   FRANK STRAUSS                                
TITLE       TREASURER           
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000060335
<NAME> CGM TRUST
<SERIES>
   <NUMBER> 01
   <NAME> CGM MUTUAL FUND
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000060335
<NAME> CGM MUTUAL FUND
<SERIES>
   <NUMBER> 02
   <NAME> CGM FIXED INCOME FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1997
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000060335
<NAME> CGM TRUST
<SERIES>
   <NUMBER> 03
   <NAME> CGM AMERICAN TAX FREE FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1997
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<SHARES-COMMON-STOCK>                          1381727
<SHARES-COMMON-PRIOR>                          1313412
<ACCUMULATED-NII-CURRENT>                        66625
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (1059327)
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<NET-ASSETS>                                  13115563
<DIVIDEND-INCOME>                                    0
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000060335
<NAME> CGM TRUST
<SERIES>
   <NUMBER> 04
   <NAME> CGM REALTY FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1997
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<EXPENSE-RATIO>                                   1.00
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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