<PAGE> PAGE 1
000 A000000 07/31/96
000 C000000 734383
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 VANGUARD SPECIALIZED PORTFOLIOS, INC.
001 B000000 811-3916
001 C000000 6106691000
002 A000000 100 VANGUARD BOULEVARD
002 B000000 MALVERN
002 C000000 PA
002 D010000 19355
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 5
007 C010100 1
007 C020100 ENERGY PORTFOLIO
007 C030100 N
007 C010200 2
007 C020200 HEALTH CARE PORTFOLIO
007 C030200 N
007 C010300 3
007 C020300 GOLD AND PRECIOUS METALS PORTFOLIO
007 C030300 N
007 C010400 4
007 C010500 5
007 C010600 6
007 C020600 UTILITIES INCOME PORTFOLIO
007 C030600 N
007 C010700 7
007 C020700 REIT INDEX PORTFOLIO
007 C030700 N
007 C010800 8
007 C010900 9
007 C011000 10
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 94
019 C00AA00 VANGUARDGR
020 A000001 FRANK RUSSELL SECURITIES, INC.
020 B000001 91-0604934
020 C000001 225
020 A000002 BEAR, STEARNS & CO. INC.
020 B000002 13-3299429
<PAGE> PAGE 2
020 C000002 196
020 A000003 SALOMON BROTHERS INC.
020 B000003 13-3082694
020 C000003 99
020 A000004 GOLDMAN SACHS & CO.
020 B000004 13-5108880
020 C000004 87
020 A000005 INSTINET CORPORATION
020 B000005 13-5650440
020 C000005 83
020 A000006 FIRST MARATHON SECURITIES LIMITED
020 C000006 82
020 A000007 CS FIRST BOSTON CORPORATION
020 B000007 13-5659485
020 C000007 74
020 A000008 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
020 B000008 13-2741729
020 C000008 72
020 A000009 UBS SECURITIES LLC
020 B000009 13-2932996
020 C000009 70
020 A000010 ALEX BROWN & SONS INCORPORATED
020 B000010 52-1319768
020 C000010 61
021 000000 2009
022 A000001 THE VANGUARD GROUP, INC./POOLED CASH ACCT.
022 B000001 23-1945930
022 C000001 37345871
022 D000001 0
022 A000002 MEDISENSE INC.
022 C000002 0
022 D000002 43425
022 A000003 ANDERSON EXPLORATION LTD.
022 C000003 13294
022 D000003 0
022 A000004 HOME OIL CO. LTD.
022 C000004 0
022 D000004 13143
022 A000005 HERZOG, HEINE, GEDULD, INC.
022 B000005 13-1955436
022 C000005 6463
022 D000005 3437
022 A000006 GOLDMAN SACHS & CO.
022 B000006 13-5108880
022 C000006 7291
022 D000006 975
022 A000007 MORGAN STANLEY & CO., INC.
022 B000007 13-2655998
022 C000007 8132
022 D000007 0
022 A000008 NOWSCO WELL SERVICE LTD.
<PAGE> PAGE 3
022 C000008 0
022 D000008 6397
022 A000009 CS FIRST BOSTON CORP.
022 B000009 13-5659485
022 C000009 6274
022 D000009 0
022 A000010 JONES & ASSOCIATES, INC.
022 B000010 95-3583143
022 C000010 0
022 D000010 5019
023 C000000 37417496
023 D000000 90440
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 3000
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
028 A010100 12121
028 A020100 0
028 A030100 0
028 A040100 19284
028 B010100 13801
028 B020100 0
028 B030100 0
028 B040100 12651
028 C010100 45298
028 C020100 0
028 C030100 0
028 C040100 11758
028 D010100 19989
028 D020100 0
<PAGE> PAGE 4
028 D030100 0
028 D040100 16822
028 E010100 9994
028 E020100 0
028 E030100 0
028 E040100 15007
028 F010100 21475
028 F020100 0
028 F030100 0
028 F040100 14776
028 G010100 122678
028 G020100 0
028 G030100 0
028 G040100 90298
028 H000100 0
037 000100 Y
038 000100 233
039 000100 N
040 000100 N
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.000
048 A010100 500000
048 A020100 0.150
048 B010100 500000
048 B020100 0.125
048 C010100 1000000
048 C020100 0.100
048 D010100 1000000
048 D020100 0.075
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 3000000
048 K020100 0.050
049 000100 N
050 000100 N
051 000100 N
052 000100 N
053 A000100 N
054 A000100 N
<PAGE> PAGE 5
054 B000100 N
054 C000100 N
054 D000100 N
054 E000100 N
054 F000100 N
054 G000100 N
054 H000100 N
054 I000100 N
054 J000100 N
054 K000100 N
054 L000100 N
054 M000100 Y
054 N000100 N
054 O000100 N
055 A000100 N
055 B000100 N
056 000100 Y
057 000100 N
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 N
070 C020100 N
070 D010100 Y
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 Y
070 F020100 N
070 G010100 Y
070 G020100 N
070 H010100 Y
070 H020100 N
070 I010100 Y
070 I020100 Y
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 N
<PAGE> PAGE 6
070 L010100 Y
070 L020100 Y
070 M010100 Y
070 M020100 N
070 N010100 Y
070 N020100 Y
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 74562
071 B000100 55087
071 C000100 542909
071 D000100 10
072 A000100 6
072 B000100 654
072 C000100 4530
072 D000100 0
072 E000100 0
072 F000100 287
072 G000100 313
072 H000100 0
072 I000100 365
072 J000100 59
072 K000100 0
072 L000100 24
072 M000100 1
072 N000100 0
072 O000100 21
072 P000100 0
072 Q000100 0
072 R000100 3
072 S000100 0
072 T000100 62
072 U000100 0
072 V000100 5
072 W000100 0
072 X000100 1140
072 Y000100 0
072 Z000100 4044
072AA000100 14703
072BB000100 623
072CC010100 28892
072CC020100 0
072DD010100 0
072DD020100 0
072EE000100 0
<PAGE> PAGE 7
073 A010100 0.0000
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 A000100 0
074 B000100 35421
074 C000100 0
074 D000100 0
074 E000100 2637
074 F000100 540706
074 G000100 0
074 H000100 0
074 I000100 62
074 J000100 9016
074 K000100 0
074 L000100 13008
074 M000100 0
074 N000100 600850
074 O000100 2857
074 P000100 219
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 13331
074 S000100 0
074 T000100 584443
074 U010100 30945
074 U020100 0
074 V010100 18.89
074 V020100 0.00
074 W000100 0.0000
074 X000100 36257
074 Y000100 0
075 A000100 0
075 B000100 566970
076 000100 0.00
028 A010200 122389
028 A020200 0
028 A030200 0
028 A040200 14482
028 B010200 102910
028 B020200 13801
028 B030200 0
028 B040200 19591
028 C010200 130469
028 C020200 0
028 C030200 0
028 C040200 21944
028 D010200 99737
028 D020200 0
<PAGE> PAGE 8
028 D030200 0
028 D040200 30176
028 E010200 73186
028 E020200 0
028 E030200 0
028 E040200 20946
028 F010200 73549
028 F020200 0
028 F030200 0
028 F040200 61562
028 G010200 602240
028 G020200 13801
028 G030200 0
028 G040200 168701
028 H000200 0
037 000200 Y
038 000200 720
039 000200 N
040 000200 N
045 000200 Y
046 000200 N
047 000200 Y
048 000200 0.000
048 A010200 500000
048 A020200 0.150
048 B010200 500000
048 B020200 0.125
048 C010200 1000000
048 C020200 0.100
048 D010200 1000000
048 D020200 0.075
048 E010200 0
048 E020200 0.000
048 F010200 0
048 F020200 0.000
048 G010200 0
048 G020200 0.000
048 H010200 0
048 H020200 0.000
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 3000000
048 K020200 0.050
049 000200 N
050 000200 N
051 000200 N
052 000200 N
053 A000200 N
054 A000200 N
<PAGE> PAGE 9
054 B000200 N
054 C000200 N
054 D000200 N
054 E000200 N
054 F000200 N
054 G000200 N
054 H000200 N
054 I000200 N
054 J000200 N
054 K000200 N
054 L000200 N
054 M000200 Y
054 N000200 N
054 O000200 N
055 A000200 N
055 B000200 N
056 000200 Y
057 000200 N
066 A000200 Y
066 B000200 N
066 C000200 Y
066 D000200 N
066 E000200 N
066 F000200 N
066 G000200 N
067 000200 N
068 A000200 N
068 B000200 N
069 000200 N
071 A000200 442333
071 B000200 82115
071 C000200 1759778
071 D000200 5
072 A000200 6
072 B000200 6545
072 C000200 14082
072 D000200 0
072 E000200 0
072 F000200 1014
072 G000200 1067
072 H000200 0
072 I000200 1325
072 J000200 128
072 K000200 0
072 L000200 56
072 M000200 3
072 N000200 0
072 O000200 74
072 P000200 0
072 Q000200 0
072 R000200 3
<PAGE> PAGE 10
072 S000200 0
072 T000200 184
072 U000200 0
072 V000200 16
072 W000200 0
072 X000200 3870
072 Y000200 101
072 Z000200 16858
072AA000200 44002
072BB000200 3660
072CC010200 0
072CC020200 19027
072DD010200 2110
072DD020200 0
072EE000200 12305
073 A010200 0.0600
073 A020200 0.0000
073 B000200 0.3500
073 C000200 0.0000
074 A000200 0
074 B000200 232505
074 C000200 0
074 D000200 0
074 E000200 0
074 F000200 1890443
074 G000200 0
074 H000200 0
074 I000200 222
074 J000200 0
074 K000200 0
074 L000200 29554
074 M000200 0
074 N000200 2152724
074 O000200 1517
074 P000200 524
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 25944
074 S000200 0
074 T000200 2124739
074 U010200 400030
074 U020200 0
074 V010200 53.08
074 V020200 0.00
074 W000200 0.0000
074 X000200 138616
074 Y000200 0
075 A000200 0
075 B000200 1984313
<PAGE> PAGE 11
076 000200 0.00
015 A000301 THE CHASE MANHATTAN BANK, N.A.
015 B000301 C
015 C010301 BROOKLYN
015 C020301 NY
015 C030301 11245
015 E040301 X
028 A010300 47203
028 A020300 0
028 A030300 0
028 A040300 42383
028 B010300 21482
028 B020300 5669
028 B030300 0
028 B040300 16249
028 C010300 14038
028 C020300 0
028 C030300 0
028 C040300 16006
028 D010300 17125
028 D020300 0
028 D030300 0
028 D040300 19842
028 E010300 8727
028 E020300 0
028 E030300 0
028 E040300 23086
028 F010300 10705
028 F020300 0
028 F030300 0
028 F040300 16556
028 G010300 119280
028 G020300 5669
028 G030300 0
028 G040300 134122
028 H000300 0
037 000300 Y
038 000300 454
039 000300 N
040 000300 N
045 000300 Y
046 000300 N
047 000300 Y
048 000300 0.000
048 A010300 100000
048 A020300 0.300
048 B010300 300000
048 B020300 0.250
048 C010300 0
048 C020300 0.000
048 D010300 0
<PAGE> PAGE 12
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 400000
048 K020300 0.050
049 000300 N
050 000300 N
051 000300 N
052 000300 N
053 A000300 N
054 A000300 N
054 B000300 N
054 C000300 N
054 D000300 N
054 E000300 N
054 F000300 N
054 G000300 N
054 H000300 N
054 I000300 N
054 J000300 N
054 K000300 N
054 L000300 N
054 M000300 Y
054 N000300 N
054 O000300 N
055 A000300 N
055 B000300 N
056 000300 Y
057 000300 N
066 A000300 Y
066 B000300 N
066 C000300 Y
066 D000300 N
066 E000300 N
066 F000300 N
066 G000300 N
067 000300 N
068 A000300 Y
068 B000300 Y
069 000300 N
071 A000300 43662
<PAGE> PAGE 13
071 B000300 47181
071 C000300 610915
071 D000300 7
072 A000300 6
072 B000300 644
072 C000300 5782
072 D000300 0
072 E000300 0
072 F000300 552
072 G000300 409
072 H000300 0
072 I000300 438
072 J000300 65
072 K000300 0
072 L000300 30
072 M000300 1
072 N000300 0
072 O000300 24
072 P000300 0
072 Q000300 0
072 R000300 3
072 S000300 0
072 T000300 66
072 U000300 0
072 V000300 6
072 W000300 0
072 X000300 1594
072 Y000300 0
072 Z000300 4832
072AA000300 11414
072BB000300 13071
072CC010300 0
072CC020300 79456
072DD010300 2795
072DD020300 0
072EE000300 3260
073 A010300 0.0600
073 A020300 0.0000
073 B000300 0.0700
073 C000300 0.0000
074 A000300 0
074 B000300 11616
074 C000300 0
074 D000300 0
074 E000300 0
074 F000300 512195
074 G000300 0
074 H000300 0
074 I000300 29716
074 J000300 1065
074 K000300 0
<PAGE> PAGE 14
074 L000300 30316
074 M000300 0
074 N000300 584908
074 O000300 0
074 P000300 285
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 27832
074 S000300 0
074 T000300 556791
074 U010300 45245
074 U020300 0
074 V010300 12.31
074 V020300 0.00
074 W000300 0.0000
074 X000300 39729
074 Y000300 0
075 A000300 0
075 B000300 643792
076 000300 0.00
028 A010600 15848
028 A020600 0
028 A030600 0
028 A040600 29597
028 B010600 9960
028 B020600 7535
028 B030600 0
028 B040600 30074
028 C010600 7886
028 C020600 0
028 C030600 0
028 C040600 35145
028 D010600 7258
028 D020600 0
028 D030600 0
028 D040600 23740
028 E010600 6322
028 E020600 5649
028 E030600 0
028 E040600 13896
028 F010600 7209
028 F020600 0
028 F030600 0
028 F040600 16667
028 G010600 54483
028 G020600 13184
028 G030600 0
028 G040600 149119
028 H000600 0
<PAGE> PAGE 15
045 000600 Y
046 000600 N
047 000600 Y
048 000600 0.000
048 A010600 500000
048 A020600 0.150
048 B010600 500000
048 B020600 0.125
048 C010600 1000000
048 C020600 0.100
048 D010600 1000000
048 D020600 0.075
048 E010600 0
048 E020600 0.000
048 F010600 0
048 F020600 0.000
048 G010600 0
048 G020600 0.000
048 H010600 0
048 H020600 0.000
048 I010600 0
048 I020600 0.000
048 J010600 0
048 J020600 0.000
048 K010600 3000000
048 K020600 0.050
049 000600 N
050 000600 N
051 000600 N
052 000600 N
053 A000600 N
054 A000600 N
054 B000600 N
054 C000600 N
054 D000600 N
054 E000600 N
054 F000600 N
054 G000600 N
054 H000600 N
054 I000600 N
054 J000600 N
054 K000600 N
054 L000600 N
054 M000600 Y
054 N000600 N
054 O000600 N
055 A000600 N
055 B000600 N
056 000600 Y
057 000600 N
066 A000600 Y
<PAGE> PAGE 16
066 B000600 N
066 C000600 N
066 D000600 N
066 E000600 Y
066 F000600 N
066 G000600 N
067 000600 N
068 A000600 N
068 B000600 N
069 000600 N
071 A000600 145970
071 B000600 222974
071 C000600 697130
071 D000600 21
072 A000600 6
072 B000600 4785
072 C000600 13118
072 D000600 0
072 E000600 0
072 F000600 280
072 G000600 461
072 H000600 0
072 I000600 497
072 J000600 23
072 K000600 0
072 L000600 32
072 M000600 1
072 N000600 0
072 O000600 28
072 P000600 0
072 Q000600 0
072 R000600 3
072 S000600 0
072 T000600 75
072 U000600 0
072 V000600 7
072 W000600 0
072 X000600 1407
072 Y000600 94
072 Z000600 16590
072AA000600 25536
072BB000600 6439
072CC010600 0
072CC020600 62173
072DD010600 16407
072DD020600 0
072EE000600 0
073 A010600 0.2900
073 A020600 0.0000
073 B000600 0.0000
073 C000600 0.0000
<PAGE> PAGE 17
074 A000600 0
074 B000600 8139
074 C000600 0
074 D000600 123671
074 E000600 0
074 F000600 516078
074 G000600 0
074 H000600 0
074 I000600 70
074 J000600 3326
074 K000600 0
074 L000600 7650
074 M000600 0
074 N000600 658934
074 O000600 487
074 P000600 288
074 Q000600 0
074 R010600 0
074 R020600 0
074 R030600 0
074 R040600 2922
074 S000600 0
074 T000600 655237
074 U010600 54093
074 U020600 0
074 V010600 12.11
074 V020600 0.00
074 W000600 0.0000
074 X000600 44411
074 Y000600 0
075 A000600 0
075 B000600 710502
076 000600 0.00
015 A000701 CORESTATES BANK, N.A.
015 B000701 C
015 C010701 PHILADELPHIA
015 C020701 PA
015 C030701 19101
015 E010701 X
028 A010700 0
028 A020700 0
028 A030700 0
028 A040700 0
028 B010700 0
028 B020700 0
028 B030700 0
028 B040700 0
028 C010700 0
028 C020700 0
028 C030700 0
028 C040700 0
<PAGE> PAGE 18
028 D010700 34988
028 D020700 0
028 D030700 0
028 D040700 49
028 E010700 43984
028 E020700 201
028 E030700 0
028 E040700 362
028 F010700 40259
028 F020700 0
028 F030700 0
028 F040700 260
028 G010700 119231
028 G020700 201
028 G030700 0
028 G040700 671
028 H000700 0
037 000700 Y
038 000700 3
039 000700 N
040 000700 N
045 000700 N
048 000700 0.000
048 A010700 0
048 A020700 0.000
048 B010700 0
048 B020700 0.000
048 C010700 0
048 C020700 0.000
048 D010700 0
048 D020700 0.000
048 E010700 0
048 E020700 0.000
048 F010700 0
048 F020700 0.000
048 G010700 0
048 G020700 0.000
048 H010700 0
048 H020700 0.000
048 I010700 0
048 I020700 0.000
048 J010700 0
048 J020700 0.000
048 K010700 0
048 K020700 0.000
055 A000700 N
055 B000700 N
056 000700 N
057 000700 N
066 A000700 Y
066 B000700 N
<PAGE> PAGE 19
066 C000700 N
066 D000700 N
066 E000700 Y
066 F000700 N
066 G000700 N
067 000700 N
068 A000700 N
068 B000700 N
069 000700 Y
070 A010700 Y
070 A020700 Y
070 B010700 Y
070 B020700 N
070 C010700 N
070 C020700 N
070 D010700 Y
070 D020700 N
070 E010700 N
070 E020700 N
070 F010700 Y
070 F020700 N
070 G010700 Y
070 G020700 N
070 H010700 Y
070 H020700 N
070 I010700 N
070 I020700 N
070 J010700 N
070 J020700 N
070 K010700 N
070 K020700 N
070 L010700 N
070 L020700 N
070 M010700 N
070 M020700 N
070 N010700 N
070 N020700 N
070 O010700 Y
070 O020700 N
070 P010700 N
070 P020700 N
070 Q010700 N
070 Q020700 N
070 R010700 N
070 R020700 N
071 A000700 117186
071 B000700 0
071 C000700 57887
071 D000700 0
072 A000700 3
072 B000700 57
<PAGE> PAGE 20
072 C000700 970
072 D000700 0
072 E000700 0
072 F000700 0
072 G000700 43
072 H000700 0
072 I000700 6
072 J000700 0
072 K000700 0
072 L000700 0
072 M000700 0
072 N000700 0
072 O000700 0
072 P000700 0
072 Q000700 0
072 R000700 1
072 S000700 0
072 T000700 0
072 U000700 0
072 V000700 0
072 W000700 0
072 X000700 50
072 Y000700 0
072 Z000700 977
072AA000700 0
072BB000700 0
072CC010700 742
072CC020700 0
072DD010700 220
072DD020700 0
072EE000700 0
073 A010700 0.0300
073 A020700 0.0000
073 B000700 0.0000
073 C000700 0.0000
074 A000700 0
074 B000700 4387
074 C000700 0
074 D000700 0
074 E000700 0
074 F000700 117929
074 G000700 0
074 H000700 0
074 I000700 8
074 J000700 0
074 K000700 0
074 L000700 917
074 M000700 0
074 N000700 123241
074 O000700 2942
074 P000700 3
<PAGE> PAGE 21
074 Q000700 0
074 R010700 0
074 R020700 0
074 R030700 0
074 R040700 36
074 S000700 0
074 T000700 120260
074 U010700 11747
074 U020700 0
074 V010700 10.24
074 V020700 0.00
074 W000700 0.0000
074 X000700 6992
074 Y000700 0
075 A000700 0
075 B000700 58862
076 000700 0.00
SIGNATURE GARY P. SOURA
TITLE SR. MANAGER
<TABLE> <S> <C>
<ARTICLE> 6
<RESTATED>
<CIK> 0000734383
<NAME> VANGUARD SPECIALIZED PORTFOLIOS, INC.
<SERIES>
<NUMBER> 01
<NAME> ENERGY PORTFOLIO
<MULTIPLIER> 1,000
<CURRENCY> US
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JAN-31-1997
<PERIOD-START> FEB-01-1996
<PERIOD-END> JUL-31-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 481390
<INVESTMENTS-AT-VALUE> 578764
<RECEIVABLES> 22024
<ASSETS-OTHER> 62
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 600850
<PAYABLE-FOR-SECURITIES> 2857
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 13550
<TOTAL-LIABILITIES> 16407
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 469420
<SHARES-COMMON-STOCK> 30945
<SHARES-COMMON-PRIOR> 29372
<ACCUMULATED-NII-CURRENT> 4004
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 13645
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 97374
<NET-ASSETS> 584443
<DIVIDEND-INCOME> 4530
<INTEREST-INCOME> 654
<OTHER-INCOME> 0
<EXPENSES-NET> 1140
<NET-INVESTMENT-INCOME> 4044
<REALIZED-GAINS-CURRENT> 14080
<APPREC-INCREASE-CURRENT> 28892
<NET-CHANGE-FROM-OPS> 47016
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6377
<NUMBER-OF-SHARES-REDEEMED> 4804
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 79396
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 39
<OVERDIST-NET-GAINS-PRIOR> 436
<GROSS-ADVISORY-FEES> 287
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1140
<AVERAGE-NET-ASSETS> 566970
<PER-SHARE-NAV-BEGIN> 17.19
<PER-SHARE-NII> 0.13
<PER-SHARE-GAIN-APPREC> 1.57
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 18.89
<EXPENSE-RATIO> 0.41
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<RESTATED>
<CIK> 0000734383
<NAME> VANGUARD SPECIALIZED PORTFOLIOS, INC.
<SERIES>
<NUMBER> 02
<NAME> HEALTH CARE PORTFOLIO
<MULTIPLIER> 1,000
<CURRENCY> US
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JAN-31-1997
<PERIOD-START> FEB-01-1996
<PERIOD-END> JUL-31-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 1613527
<INVESTMENTS-AT-VALUE> 2122948
<RECEIVABLES> 29554
<ASSETS-OTHER> 222
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2152724
<PAYABLE-FOR-SECURITIES> 1517
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 26468
<TOTAL-LIABILITIES> 27985
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1558616
<SHARES-COMMON-STOCK> 40030
<SHARES-COMMON-PRIOR> 31747
<ACCUMULATED-NII-CURRENT> 16529
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 40164
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 509430
<NET-ASSETS> 2124739
<DIVIDEND-INCOME> 14082
<INTEREST-INCOME> 6545
<OTHER-INCOME> 0
<EXPENSES-NET> 3769
<NET-INVESTMENT-INCOME> 16858
<REALIZED-GAINS-CURRENT> 40342
<APPREC-INCREASE-CURRENT> (19027)
<NET-CHANGE-FROM-OPS> 38173
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2110
<DISTRIBUTIONS-OF-GAINS> 12305
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 11185
<NUMBER-OF-SHARES-REDEEMED> 3160
<SHARES-REINVESTED> 258
<NET-CHANGE-IN-ASSETS> 471098
<ACCUMULATED-NII-PRIOR> 1805
<ACCUMULATED-GAINS-PRIOR> 12103
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1014
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3870
<AVERAGE-NET-ASSETS> 1984313
<PER-SHARE-NAV-BEGIN> 52.09
<PER-SHARE-NII> 0.41
<PER-SHARE-GAIN-APPREC> 0.99
<PER-SHARE-DIVIDEND> 0.06
<PER-SHARE-DISTRIBUTIONS> 0.35
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 53.08
<EXPENSE-RATIO> 0.39
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<RESTATED>
<CIK> 0000734383
<NAME> VANGUARD SPECIALIZED PORTFOLIOS, INC.
<SERIES>
<NUMBER> 03
<NAME> GOLD AND PRECIOUS METALS PORTFOLIO
<MULTIPLIER> 1,000
<CURRENCY> US
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JAN-31-1997
<PERIOD-START> FEB-01-1996
<PERIOD-END> JUL-31-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 501399
<INVESTMENTS-AT-VALUE> 553468
<RECEIVABLES> 31381
<ASSETS-OTHER> 59
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 584908
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 28117
<TOTAL-LIABILITIES> 28117
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 506712
<SHARES-COMMON-STOCK> 45245
<SHARES-COMMON-PRIOR> 46071
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 332
<ACCUMULATED-NET-GAINS> (1659)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 52070
<NET-ASSETS> 556791
<DIVIDEND-INCOME> 5782
<INTEREST-INCOME> 644
<OTHER-INCOME> 0
<EXPENSES-NET> 1594
<NET-INVESTMENT-INCOME> 4832
<REALIZED-GAINS-CURRENT> (1657)
<APPREC-INCREASE-CURRENT> (79456)
<NET-CHANGE-FROM-OPS> (76281)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2795
<DISTRIBUTIONS-OF-GAINS> 3260
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8549
<NUMBER-OF-SHARES-REDEEMED> 9781
<SHARES-REINVESTED> 406
<NET-CHANGE-IN-ASSETS> (91509)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 3267
<OVERDISTRIB-NII-PRIOR> 2378
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 552
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1594
<AVERAGE-NET-ASSETS> 643792
<PER-SHARE-NAV-BEGIN> 14.07
<PER-SHARE-NII> 0.10
<PER-SHARE-GAIN-APPREC> (1.73)
<PER-SHARE-DIVIDEND> 0.06
<PER-SHARE-DISTRIBUTIONS> 0.07
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.31
<EXPENSE-RATIO> 0.51
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<RESTATED>
<CIK> 0000734383
<NAME> VANGUARD SPECIALIZED PORTFOLIOS, INC.
<SERIES>
<NUMBER> 06
<NAME> UTILITIES INCOME PORTFOLIO
<MULTIPLIER> 1,000
<CURRENCY> US
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JAN-31-1997
<PERIOD-START> FEB-01-1996
<PERIOD-END> JUL-31-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 606780
<INVESTMENTS-AT-VALUE> 647888
<RECEIVABLES> 10976
<ASSETS-OTHER> 70
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 658934
<PAYABLE-FOR-SECURITIES> 487
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3210
<TOTAL-LIABILITIES> 3697
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 607391
<SHARES-COMMON-STOCK> 54093
<SHARES-COMMON-PRIOR> 60791
<ACCUMULATED-NII-CURRENT> 8703
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1965)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 41108
<NET-ASSETS> 655237
<DIVIDEND-INCOME> 13118
<INTEREST-INCOME> 4785
<OTHER-INCOME> 0
<EXPENSES-NET> 1313
<NET-INVESTMENT-INCOME> 16590
<REALIZED-GAINS-CURRENT> 19097
<APPREC-INCREASE-CURRENT> (62173)
<NET-CHANGE-FROM-OPS> (26486)
<EQUALIZATION> (1159)
<DISTRIBUTIONS-OF-INCOME> 16407
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4409
<NUMBER-OF-SHARES-REDEEMED> 12181
<SHARES-REINVESTED> 1074
<NET-CHANGE-IN-ASSETS> (125504)
<ACCUMULATED-NII-PRIOR> 9679
<ACCUMULATED-GAINS-PRIOR> (21062)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 280
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1407
<AVERAGE-NET-ASSETS> 710502
<PER-SHARE-NAV-BEGIN> 12.84
<PER-SHARE-NII> 0.29
<PER-SHARE-GAIN-APPREC> (0.73)
<PER-SHARE-DIVIDEND> 0.29
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.11
<EXPENSE-RATIO> 0.40
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000734383
<NAME> VANGUARD SPECIALIZED PORTFOLIOS, INC.
<SERIES>
<NUMBER> 07
<NAME> REIT INDEX PORTFOLIO
<MULTIPLIER> 1,000
<CURRENCY> US
<S> <C>
<PERIOD-TYPE> OTHER
<FISCAL-YEAR-END> JAN-31-1997
<PERIOD-START> MAY-13-1996
<PERIOD-END> JUL-31-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 121574
<INVESTMENTS-AT-VALUE> 122316
<RECEIVABLES> 917
<ASSETS-OTHER> 8
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 123241
<PAYABLE-FOR-SECURITIES> 2942
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 39
<TOTAL-LIABILITIES> 2981
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 118761
<SHARES-COMMON-STOCK> 11747
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 757
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 742
<NET-ASSETS> 120260
<DIVIDEND-INCOME> 970
<INTEREST-INCOME> 57
<OTHER-INCOME> 0
<EXPENSES-NET> 50
<NET-INVESTMENT-INCOME> 977
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 742
<NET-CHANGE-FROM-OPS> 1719
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 220
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 11794
<NUMBER-OF-SHARES-REDEEMED> 67
<SHARES-REINVESTED> 20
<NET-CHANGE-IN-ASSETS> 120260
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 50
<AVERAGE-NET-ASSETS> 58862
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.10
<PER-SHARE-GAIN-APPREC> 0.17
<PER-SHARE-DIVIDEND> 0.03
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.24
<EXPENSE-RATIO> 0.35
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>