VANGUARD SPECIALIZED PORTFOLIOS INC
NSAR-B, 1997-03-24
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<PAGE>      PAGE  1
000 B000000 01/31/97
000 C000000 0000734383
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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
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007 C030100 N
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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
020 A000001 FRANK RUSSELL SECURITIES, INC.
020 B000001 91-0604934
020 C000001    456
020 A000002 BEAR, STEARNS & CO. INC.
020 B000002 13-3299429
020 C000002    403
020 A000003 CS FIRST BOSTON CORPORATION
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020 C000003    212
<PAGE>      PAGE  2
020 A000004 GOLDMAN SACHS & CO.
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020 C000004    210
020 A000005 SALOMON BROTHERS INC.
020 B000005 13-3082694
020 C000005    209
020 A000006 UBS SECURITIES LLC
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020 C000006    153
020 A000007 PAINEWEBBER INCORPORATED
020 B000007 13-2638166
020 C000007    147
020 A000008 NATWEST SECURITIES CORPORATION
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020 C000008    145
020 A000009 NATWEST SECURITIES - SYDNEY
020 C000009    125
020 A000010 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
020 B000010 13-2741729
020 C000010    124
021  000000     4807
022 A000001 THE VANGUARD GROUP, INC./POOLED CASH ACCT.
022 B000001 23-1945930
022 C000001  83552188
022 D000001         0
022 A000002 MEDISENSE INC.
022 C000002         0
022 D000002     43425
022 A000003 GENETICS INSTITUTE INC.
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022 D000003     26942
022 A000004 MORGAN STANLEY & CO., INC.
022 B000004 13-2655998
022 C000004     14547
022 D000004         0
022 A000005 GOLDMAN SACHS & CO.
022 B000005 13-5108880
022 C000005     12711
022 D000005       975
022 A000006 ANDERSON EXPLORATION LTD.
022 C000006     13294
022 D000006         0
022 A000007 HOME OIL CO. LTD.
022 C000007         0
022 D000007     13143
022 A000008 SMITH BARNEY INC.
022 B000008 13-1912900
022 C000008      6100
022 D000008      5970
022 A000009 HERZOG, HEINE, GEDULD, INC.
022 B000009 13-1955436
<PAGE>      PAGE  3
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SIGNATURE   GARY P. SOURA                                
TITLE       MANAGER             
 


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<NAME> VANGUARD SPECIALIZED PORTFOLIOS, INC.
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