<PAGE> PAGE 1
000 A000000 06/30/98
000 C000000 0000710977
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 MOSAIC EQUITY TRUST
001 B000000 811-3615
001 C000000 7035283600
002 A000000 1655 FT. MYER DRIVE
002 B000000 ARLINGTON
002 C000000 VA
002 D010000 22209
002 D020000 3108
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 4
007 C010100 1
007 C020100 MID-CAP GROWTH FUND
007 C030100 N
007 C010200 2
007 C020200 INVESTORS FUND
007 C030200 N
007 C010300 3
007 C020300 BALANCED FUND
007 C030300 N
007 C010400 4
007 C020400 FORESIGHT FUND
007 C030400 N
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 MADISON MOSAIC, LLC
008 B00AA01 A
008 C00AA01 801-52751
008 D01AA01 ARLINGTON
008 D02AA01 VA
008 D03AA01 22209
008 D04AA01 3108
008 A00AA02 MADISON INVESTMENT ADVISORS, INC.
008 B00AA02 A
008 C00AA02 801-9840
<PAGE> PAGE 2
008 D01AA02 MADISON
008 D02AA02 WI
008 D03AA02 53705
011 A00AA01 GIT INVESTMENT SERVICES, INC.
011 B00AA01 8-27394
011 C01AA01 ARLINGTON
011 C02AA01 VA
011 C03AA01 22209
011 C04AA01 3108
012 A00AA01 MOSAIC EQUITY TRUST
012 B00AA01 84-1322
012 C01AA01 ARLINGTON
012 C02AA01 VA
012 C03AA01 22209
012 C04AA01 3108
013 A00AA01 DELOITTE & TOUCHE LLP
013 B01AA01 PRINCETON
013 B02AA01 NJ
013 B03AA01 08540
015 A00AA01 STAR BANK, NA
015 B00AA01 C
015 C01AA01 CINCINNATI
015 C02AA01 OH
015 C03AA01 45202
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 14
019 C00AA00 MOSAICFUND
020 A000001 PERSHING THOMSON
020 B000001 13-2741729
020 C000001 54
020 A000002 DONALDSON LUFKIN JENRETTE
020 B000002 18-1898818
020 C000002 13
020 A000003 PRUDENTIAL
020 B000003 22-2347336
020 C000003 7
020 A000004 ALEX BROWN
020 B000004 52-1319768
020 C000004 2
020 A000005 SMITH BARNEY
020 B000005 13-1912900
020 C000005 1
020 A000006 PAINE WEBBER
020 B000006 13-2638166
020 C000006 1
020 A000007 THOMSON
020 B000007 13-2741729
020 C000007 1
020 C000008 0
<PAGE> PAGE 3
020 C000009 0
020 C000010 0
021 000000 78
022 A000001 DONALDSON LUFKIN & JENRETTE
022 B000001 13-1898818
022 C000001 431169
022 D000001 54
022 A000002 PRUDENTIAL
022 B000002 22-2347336
022 C000002 8072
022 D000002 1072
022 A000003 SMITH BARNEY
022 B000003 13-1912900
022 C000003 1608
022 D000003 2428
022 A000004 SOUTHWEST SECURITIES
022 B000004 75-1382137
022 C000004 1131
022 D000004 377
022 A000005 PAINE WEBBER
022 B000005 13-2638166
022 C000005 0
022 D000005 834
022 A000006 BEAR STEARNS
022 B000006 13-3286161
022 C000006 760
022 D000006 0
022 A000007 GX CLARKE
022 B000007 13-2969143
022 C000007 606
022 D000007 50
022 A000008 PIPER JAFFRAY
022 B000008 41-1422918
022 C000008 607
022 D000008 0
022 A000009 ROBERT BAIRD
022 B000009 39-6037917
022 C000009 228
022 D000009 177
022 A000010 ALEX BROWN
022 B000010 52-1319768
022 C000010 298
022 D000010 0
023 C000000 444620
023 D000000 5285
024 00AA00 N
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
<PAGE> PAGE 4
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
034 00AA00 N
035 00AA00 0
036 B00AA00 0
037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 N
054 A00AA00 N
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
055 A00AA00 N
055 B00AA00 N
056 00AA00 Y
057 00AA00 N
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
077 A000000 N
078 000000 N
<PAGE> PAGE 5
080 C00AA00 0
081 B00AA00 0
082 B00AA00 0
083 B00AA00 0
084 B00AA00 0
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
028 A010100 869
028 A020100 0
028 A030100 0
028 A040100 1037
028 B010100 408
028 B020100 0
028 B030100 0
028 B040100 594
028 C010100 446
028 C020100 0
028 C030100 0
028 C040100 271
028 D010100 860
028 D020100 0
028 D030100 0
028 D040100 870
028 E010100 461
028 E020100 0
028 E030100 0
028 E040100 840
028 F010100 358
028 F020100 0
028 F030100 0
028 F040100 540
028 G010100 3402
028 G020100 0
028 G030100 0
028 G040100 4152
028 H000100 0
029 000100 N
030 A000100 0
030 B000100 0.00
030 C000100 0.00
045 000100 Y
<PAGE> PAGE 6
046 000100 N
047 000100 Y
048 000100 0.750
048 A010100 0
048 A020100 0.000
048 B010100 0
048 B020100 0.000
048 C010100 0
048 C020100 0.000
048 D010100 0
048 D020100 0.000
048 E010100 0
048 E020100 0.000
048 F010100 0
048 F020100 0.000
048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 0
048 K020100 0.000
049 000100 N
050 000100 N
051 000100 N
052 000100 N
053 A000100 N
058 A000100 N
059 000100 Y
060 A000100 Y
060 B000100 Y
061 000100 1000
066 A000100 Y
066 B000100 N
066 C000100 Y
066 D000100 N
066 E000100 N
066 F000100 N
066 G000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
070 A020100 Y
070 B010100 Y
070 B020100 N
070 C010100 Y
<PAGE> PAGE 7
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 N
070 M010100 N
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 N
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 5676
071 B000100 6512
071 C000100 10728
071 D000100 53
072 A000100 6
072 B000100 25
072 C000100 32
072 D000100 0
072 E000100 0
072 F000100 44
072 G000100 0
072 H000100 0
072 I000100 22
072 J000100 0
072 K000100 0
072 L000100 0
072 M000100 1
072 N000100 3
072 O000100 0
072 P000100 0
<PAGE> PAGE 8
072 Q000100 0
072 R000100 1
072 S000100 1
072 T000100 0
072 U000100 0
072 V000100 0
072 W000100 0
072 X000100 72
072 Y000100 0
072 Z000100 -15
072AA000100 1211
072BB000100 553
072CC010100 0
072CC020100 126
072DD010100 0
072DD020100 0
072EE000100 0
073 A010100 0.0000
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 A000100 0
074 B000100 1311
074 C000100 0
074 D000100 0
074 E000100 0
074 F000100 9766
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 444
074 K000100 0
074 L000100 17
074 M000100 0
074 N000100 11538
074 O000100 0
074 P000100 0
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 304
074 S000100 0
074 T000100 11234
074 U010100 1164
074 U020100 0
074 V010100 9.66
074 V020100 0.00
074 W000100 0.0000
074 X000100 942
074 Y000100 0
<PAGE> PAGE 9
075 A000100 0
075 B000100 11736
076 000100 0.00
028 A010200 2104
028 A020200 0
028 A030200 0
028 A040200 1933
028 B010200 1678
028 B020200 0
028 B030200 0
028 B040200 1285
028 C010200 1252
028 C020200 0
028 C030200 0
028 C040200 767
028 D010200 1789
028 D020200 0
028 D030200 0
028 D040200 1495
028 E010200 759
028 E020200 0
028 E030200 0
028 E040200 1473
028 F010200 876
028 F020200 0
028 F030200 0
028 F040200 742
028 G010200 8458
028 G020200 0
028 G030200 0
028 G040200 7695
028 H000200 0
045 000200 Y
046 000200 N
047 000200 Y
048 000200 0.750
048 A010200 0
048 A020200 0.000
048 B010200 0
048 B020200 0.000
048 C010200 0
048 C020200 0.000
048 D010200 0
048 D020200 0.000
048 E010200 0
048 E020200 0.000
048 F010200 0
048 F020200 0.000
048 G010200 0
048 G020200 0.000
048 H010200 0
<PAGE> PAGE 10
048 H020200 0.000
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 0
048 K020200 0.000
049 000200 N
050 000200 N
051 000200 N
052 000200 N
053 A000200 N
058 A000200 N
059 000200 Y
060 A000200 Y
060 B000200 Y
061 000200 1000
066 A000200 Y
066 B000200 N
066 C000200 N
066 D000200 Y
066 E000200 N
066 F000200 N
066 G000200 N
067 000200 N
068 A000200 N
068 B000200 N
069 000200 N
070 A010200 Y
070 A020200 Y
070 B010200 Y
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
<PAGE> PAGE 11
070 L020200 N
070 M010200 N
070 M020200 N
070 N010200 Y
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 10755
071 B000200 10285
071 C000200 26171
071 D000200 39
072 A000200 6
072 B000200 34
072 C000200 0
072 D000200 0
072 E000200 13
072 F000200 101
072 G000200 0
072 H000200 0
072 I000200 47
072 J000200 0
072 K000200 0
072 L000200 0
072 M000200 2
072 N000200 3
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 1
072 S000200 1
072 T000200 0
072 U000200 0
072 V000200 0
072 W000200 0
072 X000200 155
072 Y000200 0
072 Z000200 6
072AA000200 2337
072BB000200 513
072CC010200 0
072CC020200 117
072DD010200 114
072DD020200 0
072EE000200 0
073 A010200 0.0000
<PAGE> PAGE 12
073 A020200 0.0000
073 B000200 0.0000
073 C000200 0.0000
074 A000200 1
074 B000200 1632
074 C000200 0
074 D000200 0
074 E000200 0
074 F000200 26628
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 0
074 K000200 0
074 L000200 26
074 M000200 0
074 N000200 28286
074 O000200 0
074 P000200 0
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 610
074 S000200 0
074 T000200 27676
074 U010200 1160
074 U020200 0
074 V010200 23.85
074 V020200 0.00
074 W000200 0.0000
074 X000200 1106
074 Y000200 0
075 A000200 0
075 B000200 27005
076 000200 0.00
028 A010300 99
028 A020300 0
028 A030300 0
028 A040300 348
028 B010300 119
028 B020300 0
028 B030300 0
028 B040300 138
028 C010300 154
028 C020300 58
028 C030300 0
028 C040300 279
028 D010300 207
028 D020300 0
028 D030300 0
<PAGE> PAGE 13
028 D040300 285
028 E010300 34
028 E020300 0
028 E030300 0
028 E040300 136
028 F010300 29
028 F020300 65
028 F030300 0
028 F040300 78
028 G010300 642
028 G020300 123
028 G030300 0
028 G040300 1264
028 H000300 0
045 000300 Y
046 000300 N
047 000300 Y
048 000300 0.750
048 A010300 0
048 A020300 0.000
048 B010300 0
048 B020300 0.000
048 C010300 0
048 C020300 0.000
048 D010300 0
048 D020300 0.000
048 E010300 0
048 E020300 0.000
048 F010300 0
048 F020300 0.000
048 G010300 0
048 G020300 0.000
048 H010300 0
048 H020300 0.000
048 I010300 0
048 I020300 0.000
048 J010300 0
048 J020300 0.000
048 K010300 0
048 K020300 0.000
049 000300 N
050 000300 N
051 000300 N
052 000300 N
053 A000300 N
058 A000300 N
059 000300 Y
060 A000300 Y
060 B000300 Y
061 000300 1000
066 A000300 Y
<PAGE> PAGE 14
066 B000300 N
066 C000300 N
066 D000300 N
066 E000300 Y
066 F000300 N
066 G000300 N
067 000300 Y
068 A000300 N
068 B000300 N
069 000300 N
070 A010300 Y
070 A020300 Y
070 B010300 Y
070 B020300 N
070 C010300 Y
070 C020300 N
070 D010300 N
070 D020300 N
070 E010300 N
070 E020300 N
070 F010300 N
070 F020300 N
070 G010300 N
070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 Y
070 K020300 N
070 L010300 Y
070 L020300 N
070 M010300 N
070 M020300 N
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 N
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
071 A000300 8052
071 B000300 8574
071 C000300 16893
071 D000300 48
072 A000300 6
<PAGE> PAGE 15
072 B000300 172
072 C000300 52
072 D000300 0
072 E000300 13
072 F000300 66
072 G000300 0
072 H000300 0
072 I000300 32
072 J000300 0
072 K000300 0
072 L000300 0
072 M000300 2
072 N000300 2
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 2
072 S000300 1
072 T000300 0
072 U000300 0
072 V000300 0
072 W000300 0
072 X000300 105
072 Y000300 0
072 Z000300 132
072AA000300 1307
072BB000300 234
072CC010300 0
072CC020300 293
072DD010300 132
072DD020300 0
072EE000300 0
073 A010300 0.1510
073 A020300 0.0000
073 B000300 0.0000
073 C000300 0.0000
074 A000300 1
074 B000300 489
074 C000300 0
074 D000300 5491
074 E000300 0
074 F000300 11606
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 0
074 K000300 0
074 L000300 103
074 M000300 0
074 N000300 17690
074 O000300 0
<PAGE> PAGE 16
074 P000300 0
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 6
074 S000300 0
074 T000300 17684
074 U010300 868
074 U020300 0
074 V010300 20.37
074 V020300 0.00
074 W000300 0.0000
074 X000300 857
074 Y000300 0
075 A000300 0
075 B000300 17682
076 000300 0.00
028 A010400 9
028 A020400 0
028 A030400 0
028 A040400 64
028 B010400 39
028 B020400 0
028 B030400 0
028 B040400 33
028 C010400 281
028 C020400 0
028 C030400 0
028 C040400 41
028 D010400 38
028 D020400 0
028 D030400 0
028 D040400 162
028 E010400 5
028 E020400 0
028 E030400 0
028 E040400 8
028 F010400 37
028 F020400 0
028 F030400 0
028 F040400 24
028 G010400 409
028 G020400 0
028 G030400 0
028 G040400 332
028 H000400 0
045 000400 Y
046 000400 N
047 000400 Y
048 000400 1.000
<PAGE> PAGE 17
048 A010400 0
048 A020400 0.000
048 B010400 0
048 B020400 0.000
048 C010400 0
048 C020400 0.000
048 D010400 0
048 D020400 0.000
048 E010400 0
048 E020400 0.000
048 F010400 0
048 F020400 0.000
048 G010400 0
048 G020400 0.000
048 H010400 0
048 H020400 0.000
048 I010400 0
048 I020400 0.000
048 J010400 0
048 J020400 0.000
048 K010400 0
048 K020400 0.000
049 000400 N
050 000400 N
051 000400 N
052 000400 N
053 A000400 Y
053 B000400 Y
053 C000400 N
058 A000400 N
059 000400 Y
060 A000400 Y
060 B000400 Y
061 000400 1000
066 A000400 Y
066 B000400 N
066 C000400 N
066 D000400 N
066 E000400 N
066 F000400 N
066 G000400 Y
067 000400 N
068 A000400 N
068 B000400 N
069 000400 N
070 A010400 Y
070 A020400 Y
070 B010400 Y
070 B020400 N
070 C010400 Y
070 C020400 N
<PAGE> PAGE 18
070 D010400 N
070 D020400 N
070 E010400 N
070 E020400 N
070 F010400 N
070 F020400 N
070 G010400 N
070 G020400 N
070 H010400 N
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
070 K020400 N
070 L010400 Y
070 L020400 N
070 M010400 Y
070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 Y
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400 1032
071 B000400 180
071 C000400 894
071 D000400 20
072 A000400 6
072 B000400 38
072 C000400 4
072 D000400 0
072 E000400 0
072 F000400 7
072 G000400 0
072 H000400 0
072 I000400 6
072 J000400 0
072 K000400 0
072 L000400 0
072 M000400 0
072 N000400 0
072 O000400 0
072 P000400 0
072 Q000400 0
<PAGE> PAGE 19
072 R000400 0
072 S000400 0
072 T000400 0
072 U000400 0
072 V000400 0
072 W000400 0
072 X000400 13
072 Y000400 0
072 Z000400 28
072AA000400 4
072BB000400 0
072CC010400 0
072CC020400 37
072DD010400 0
072DD020400 0
072EE000400 0
073 A010400 0.0000
073 A020400 0.0000
073 B000400 0.0000
073 C000400 0.0000
074 A000400 1
074 B000400 167
074 C000400 0
074 D000400 998
074 E000400 0
074 F000400 893
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 0
074 K000400 0
074 L000400 1
074 M000400 0
074 N000400 2060
074 O000400 0
074 P000400 0
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 0
074 S000400 0
074 T000400 2060
074 U010400 190
074 U020400 0
074 V010400 10.84
074 V020400 0.00
074 W000400 0.0000
074 X000400 163
074 Y000400 0
075 A000400 0
<PAGE> PAGE 20
075 B000400 2018
076 000400 0.00
SIGNATURE RICHARD MASON
TITLE GENERAL COUNSEL
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial data extracted from the registrant's
current Form NSAR, semi-annual report and prospectus and is qualified in its
entirety by reference to such source documents.
</LEGEND>
<CIK> 0000710977
<NAME> MOSAIC EQUITY TRUST
<SERIES>
<NUMBER> 1
<NAME> MID-CAP GROWTH FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 10,069
<INVESTMENTS-AT-VALUE> 11,077
<RECEIVABLES> 461
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 11,538
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 304
<TOTAL-LIABILITIES> 304
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 9,059
<SHARES-COMMON-STOCK> 1,164
<SHARES-COMMON-PRIOR> 1,240
<ACCUMULATED-NII-CURRENT> (15)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,182
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,008
<NET-ASSETS> 11,234
<DIVIDEND-INCOME> 32
<INTEREST-INCOME> 25
<OTHER-INCOME> 0
<EXPENSES-NET> 72
<NET-INVESTMENT-INCOME> (15)
<REALIZED-GAINS-CURRENT> 658
<APPREC-INCREASE-CURRENT> (126)
<NET-CHANGE-FROM-OPS> 517
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,402
<NUMBER-OF-SHARES-REDEEMED> 4,152
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 750
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 525
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 44
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 72
<AVERAGE-NET-ASSETS> 11,736
<PER-SHARE-NAV-BEGIN> 9.25
<PER-SHARE-NII> (0.010)
<PER-SHARE-GAIN-APPREC> 0.42
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.66
<EXPENSE-RATIO> 1.25
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial data extracted from the registrant's
current Form NSAR, semi-annual report and prospectus and is qualified in its
entirety by reference to such source documents.
</LEGEND>
<CIK> 0000710977
<NAME> MOSAIC EQUITY TRUST
<SERIES>
<NUMBER> 2
<NAME> INVESTORS FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 22,490
<INVESTMENTS-AT-VALUE> 28,260
<RECEIVABLES> 26
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 28,286
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 610
<TOTAL-LIABILITIES> 610
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 19,775
<SHARES-COMMON-STOCK> 1,186
<SHARES-COMMON-PRIOR> 1,127
<ACCUMULATED-NII-CURRENT> 6
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2,125
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 5,770
<NET-ASSETS> 27,676
<DIVIDEND-INCOME> 114
<INTEREST-INCOME> 34
<OTHER-INCOME> 13
<EXPENSES-NET> 155
<NET-INVESTMENT-INCOME> 6
<REALIZED-GAINS-CURRENT> 1,824
<APPREC-INCREASE-CURRENT> (117)
<NET-CHANGE-FROM-OPS> 1,713
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8,457
<NUMBER-OF-SHARES-REDEEMED> 7,695
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 762
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 302
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 66
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 155
<AVERAGE-NET-ASSETS> 27,005
<PER-SHARE-NAV-BEGIN> 22.37
<PER-SHARE-NII> 0.01
<PER-SHARE-GAIN-APPREC> 1.47
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 23.85
<EXPENSE-RATIO> 1.16
<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 current Form NSAR, semi-annual report and prospectus and is
qualified in its entirety by reference to such source documents.
</LEGEND>
<CIK> 0000710977
<NAME> MOSAIC EQUITY TRUST
<SERIES>
<NUMBER> 3
<NAME> MOSAIC BALANCED FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 14,983
<INVESTMENTS-AT-VALUE> 17,586
<RECEIVABLES> 104
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 17,690
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 5
<TOTAL-LIABILITIES> 5
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 13,554
<SHARES-COMMON-STOCK> 868
<SHARES-COMMON-PRIOR> 893
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,527
<OVERDISTRIBUTION-GAINS> 2,603
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 17,684
<DIVIDEND-INCOME> 52
<INTEREST-INCOME> 172
<OTHER-INCOME> 13
<EXPENSES-NET> 105
<NET-INVESTMENT-INCOME> 132
<REALIZED-GAINS-CURRENT> 1,073
<APPREC-INCREASE-CURRENT> (293)
<NET-CHANGE-FROM-OPS> 912
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 132
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 643
<NUMBER-OF-SHARES-REDEEMED> 1,264
<SHARES-REINVESTED> 123
<NET-CHANGE-IN-ASSETS> (498)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 454
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 66
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 105
<AVERAGE-NET-ASSETS> 17,682
<PER-SHARE-NAV-BEGIN> 19.48
<PER-SHARE-NII> 0.151
<PER-SHARE-GAIN-APPREC> 0.890
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0.151
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 20.37
<EXPENSE-RATIO> 1.2
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial data extracted from the registrant's
curent Form NSAR-A, semi-annual report and prospectus and is qualified in its
entirety by reference to such source documents.
</LEGEND>
<CIK> 0000710977
<NAME> MOSAIC EQUITY TRUST
<SERIES>
<NUMBER> 4
<NAME> FORESIGHT FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 2,021
<INVESTMENTS-AT-VALUE> 2,058
<RECEIVABLES> 1
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 2,059
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,424
<SHARES-COMMON-STOCK> 190
<SHARES-COMMON-PRIOR> 183
<ACCUMULATED-NII-CURRENT> 28
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (429)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 37
<NET-ASSETS> 2,060
<DIVIDEND-INCOME> 4
<INTEREST-INCOME> 38
<OTHER-INCOME> 0
<EXPENSES-NET> 13
<NET-INVESTMENT-INCOME> 28
<REALIZED-GAINS-CURRENT> 4
<APPREC-INCREASE-CURRENT> 37
<NET-CHANGE-FROM-OPS> 69
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 409
<NUMBER-OF-SHARES-REDEEMED> 333
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 76
<ACCUMULATED-NII-PRIOR> (1)
<ACCUMULATED-GAINS-PRIOR> (433)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 7
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 13
<AVERAGE-NET-ASSETS> 2,018
<PER-SHARE-NAV-BEGIN> 10.46
<PER-SHARE-NII> 0.15
<PER-SHARE-GAIN-APPREC> 0.23
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.84
<EXPENSE-RATIO> 1.32
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
