<PAGE> PAGE 1
000 A000000 06/30/1999
000 C000000 0000710977
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
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007 C010300 3
007 C020300 BALANCED FUND
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007 C020400 FORESIGHT FUND
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007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
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008 D03AA01 22209
008 D04AA01 3108
008 A00AA02 MADISON INVESTMENT ADVISORS, INC.
008 B00AA02 A
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<PAGE> PAGE 2
008 D01AA02 MADISON
008 D02AA02 WI
008 D03AA02 53705
011 A00AA01 MOSAIC FUNDS DISTRIBUTOR, LLC
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<PAGE> PAGE 3
020 C000009 0
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<PAGE> PAGE 4
027 000000 Y
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039 00AA00 N
040 00AA00 N
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054 E00AA00 N
054 F00AA00 N
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054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
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054 O00AA00 N
055 A00AA00 N
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056 00AA00 Y
057 00AA00 N
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<PAGE> PAGE 5
084 B00AA00 0
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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
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<PAGE> PAGE 8
072 U000100 0
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<PAGE> PAGE 9
028 A020200 0
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<PAGE> PAGE 10
048 J020200 0.000
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050 000200 N
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070 D020200 N
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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
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<PAGE> PAGE 11
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 N
070 P020200 N
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070 R010200 N
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071 B000200 9750
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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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
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<NAME> MID-CAP GROWTH FUND
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<NET-CHANGE-FROM-OPS> 45
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,452
<NUMBER-OF-SHARES-REDEEMED> 6,514
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (1,018)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (134)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 34
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 57
<AVERAGE-NET-ASSETS> 9,366
<PER-SHARE-NAV-BEGIN> 8.74
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0.11
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 8.85
<EXPENSE-RATIO> 1.22
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial data extracted from the registrants
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-31-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 25,092
<INVESTMENTS-AT-VALUE> 32,610
<RECEIVABLES> 21
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 32,631
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 9
<TOTAL-LIABILITIES> 9
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 21,309
<SHARES-COMMON-STOCK> 1,221
<SHARES-COMMON-PRIOR> 1,217
<ACCUMULATED-NII-CURRENT> 4
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3,791
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 7,518
<NET-ASSETS> 32,622
<DIVIDEND-INCOME> 38
<INTEREST-INCOME> 138
<OTHER-INCOME> 0
<EXPENSES-NET> 173
<NET-INVESTMENT-INCOME> 4
<REALIZED-GAINS-CURRENT> 2,942
<APPREC-INCREASE-CURRENT> 94
<NET-CHANGE-FROM-OPS> 3,040
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 10,835
<NUMBER-OF-SHARES-REDEEMED> 10,781
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 3,094
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 849
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 113
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 173
<AVERAGE-NET-ASSETS> 30,740
<PER-SHARE-NAV-BEGIN> 24.26
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 2.44
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 26.71
<EXPENSE-RATIO> 1.12
</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> 3
<NAME> BALANCED FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 21,740
<INVESTMENTS-AT-VALUE> 25,473
<RECEIVABLES> 134
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 25,608
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6
<TOTAL-LIABILITIES> 6
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 20,150
<SHARES-COMMON-STOCK> 1,189
<SHARES-COMMON-PRIOR> 1,208
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,720
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,733
<NET-ASSETS> 25,602
<DIVIDEND-INCOME> 74
<INTEREST-INCOME> 258
<OTHER-INCOME> 0
<EXPENSES-NET> 145
<NET-INVESTMENT-INCOME> 187
<REALIZED-GAINS-CURRENT> 1,298
<APPREC-INCREASE-CURRENT> (28)
<NET-CHANGE-FROM-OPS> 1,456
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 187
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,229
<NUMBER-OF-SHARES-REDEEMED> 1,807
<SHARES-REINVESTED> 175
<NET-CHANGE-IN-ASSETS> 867
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 422
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 91
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 145
<AVERAGE-NET-ASSETS> 24,851
<PER-SHARE-NAV-BEGIN> 20.47
<PER-SHARE-NII> 0.16
<PER-SHARE-GAIN-APPREC> 0.98
<PER-SHARE-DIVIDEND> 0.07
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 21.53
<EXPENSE-RATIO> 1.17
</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> 4
<NAME> FORESIGHT FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 2,949
<INVESTMENTS-AT-VALUE> 3,151
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 3,151
<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> 3,137
<SHARES-COMMON-STOCK> 260
<SHARES-COMMON-PRIOR> 276
<ACCUMULATED-NII-CURRENT> 40
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (228)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 201
<NET-ASSETS> 3,151
<DIVIDEND-INCOME> 2
<INTEREST-INCOME> 58
<OTHER-INCOME> 0
<EXPENSES-NET> 19
<NET-INVESTMENT-INCOME> 40
<REALIZED-GAINS-CURRENT> 56
<APPREC-INCREASE-CURRENT> (51)
<NET-CHANGE-FROM-OPS> 46
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 276
<NUMBER-OF-SHARES-REDEEMED> 464
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (143)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (284)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 12
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 19
<AVERAGE-NET-ASSETS> 3,173
<PER-SHARE-NAV-BEGIN> 11.95
<PER-SHARE-NII> 0.15
<PER-SHARE-GAIN-APPREC> 0.02
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.12
<EXPENSE-RATIO> 1.22
</TABLE>
