<PAGE> PAGE 1
000 A000000 07/31/98
000 C000000 0000734383
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
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
010 A00AA01 THE VANGUARD GROUP, INC.
010 B00AA01 801-11953
010 C01AA01 MALVERN
010 C02AA01 PA
010 C03AA01 19355
012 A00AA01 THE VANGUARD GROUP, INC.
012 B00AA01 84-772
012 C01AA01 MALVERN
012 C02AA01 PA
<PAGE> PAGE 2
012 C03AA01 19355
013 A00AA01 PRICEWATERHOUSECOOPERS LLP
013 B01AA01 PHILADELPHIA
013 B02AA01 PA
013 B03AA01 19103
014 A00AA01 VANGUARD MARKETING CORP.
014 B00AA01 8-21570
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 97
019 C00AA00 VANGUARDGR
020 A000001 FRANK RUSSELL SECURITIES, INC.
020 B000001 91-0604934
020 C000001 230
020 A000002 SMITH BARNEY/SALOMON
020 B000002 13-1912900
020 C000002 210
020 A000003 MORGAN STANLEY & CO., INC.
020 B000003 13-2655998
020 C000003 205
020 A000004 GOLDMAN SACHS & CO.
020 B000004 13-5108880
020 C000004 204
020 A000005 J.P. MORGAN SECURITIES
020 B000005 13-3224016
020 C000005 134
020 A000006 SBC WARBURG DILLON REED INC.
020 B000006 13-3340045
020 C000006 134
020 A000007 PAINEWEBBER INC.
020 B000007 13-2638166
020 C000007 115
020 A000008 CREDIT SUISSE FIRST BOSTON CORP.
020 B000008 13-5659485
020 C000008 107
020 A000009 BEAR STERNS SECURITIES CORP.
020 B000009 13-3299429
020 C000009 103
020 A000010 DONALDSON, LUFKIN & JENRETTE SECURITIES
020 B000010 13-2741729
020 C000010 92
021 000000 2777
022 A000001 LEHMAN BROTHERS INC.
022 B000001 13-2518466
022 C000001 22649912
022 D000001 0
022 A000002 J.P. MORGAN SECURITIES, INC.
022 B000002 13-3224016
022 C000002 4539295
022 D000002 0
022 A000003 CREDIT SUISSE FRIST BOSTON CORP.
<PAGE> PAGE 3
022 B000003 13-5659485
022 C000003 3436237
022 D000003 651
022 A000004 THE VANGUARD GROUP, INC.
022 B000004 23-1945930
022 C000004 708355
022 D000004 1212841
022 A000005 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
022 B000005 13-5674085
022 C000005 478306
022 D000005 2037
022 A000006 GENERAL ELECTRIC CAPITAL CORP.
022 C000006 298149
022 D000006 0
022 A000007 ASSOCIATES CORP.
022 C000007 149309
022 D000007 0
022 A000008 MORGAN STANLEY & CO. INC.
022 B000008 13-2655998
022 C000008 63677
022 D000008 5946
022 A000009 GOLDMAN SACHS & CO.
022 B000009 13-5108880
022 C000009 56673
022 D000009 470
022 A000010 PRUDENTIAL FUNDING NEWARK
022 C000010 49778
022 D000010 0
023 C000000 32919905
023 D000000 1334787
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 Y
026 H000000 N
027 000000 Y
029 00AA00 N
030 A00AA00 0
030 B00AA00 0.00
030 C00AA00 0.00
034 00AA00 N
035 00AA00 0
036 B00AA00 0
042 A00AA00 0
042 B00AA00 0
042 C00AA00 0
042 D00AA00 0
<PAGE> PAGE 4
042 E00AA00 0
042 F00AA00 0
042 G00AA00 0
042 H00AA00 0
043 00AA00 0
044 00AA00 0
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 Y
077 B000000 N
077 C000000 Y
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 N
077 Q020000 N
077 Q030000 N
078 000000 N
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
080 C00AA00 300000
081 A00AA00 Y
081 B00AA00 104
082 A00AA00 N
082 B00AA00 0
083 A00AA00 N
<PAGE> PAGE 5
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
008 A000101 WELLINGTON MANAGEMENT COMPANY
008 B000101 A
008 C000101 801-15908
008 D010101 BOSTON
008 D020101 MA
008 D030101 02109
015 A000101 STATE STREET BANK AND TRUST COMPANY
015 B000101 C
015 C010101 BOSTON
015 C020101 MA
015 C030101 02110
015 E010101 X
024 000100 N
028 A010100 28745
028 A020100 0
028 A030100 0
028 A040100 38658
028 B010100 36022
028 B020100 3538
028 B030100 0
028 B040100 40419
028 C010100 24874
028 C020100 0
028 C030100 0
028 C040100 27907
028 D010100 16643
028 D020100 3
028 D030100 0
028 D040100 19976
028 E010100 23765
028 E020100 1
028 E030100 0
028 E040100 24646
028 F010100 23961
028 F020100 0
028 F030100 0
028 F040100 43139
028 G010100 154010
028 G020100 3542
028 G030100 0
028 G040100 194745
028 H000100 0
037 000100 Y
038 000100 349
039 000100 N
040 000100 N
<PAGE> PAGE 6
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
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
070 A010100 Y
070 A020100 Y
070 B010100 Y
070 B020100 N
070 C010100 N
<PAGE> PAGE 7
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 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 N
070 L010100 Y
070 L020100 Y
070 M010100 Y
070 M020100 Y
070 N010100 Y
070 N020100 Y
070 O010100 Y
070 O020100 N
070 P010100 Y
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 63084
071 B000100 90201
071 C000100 1078025
071 D000100 6
072 A000100 6
072 B000100 1554
072 C000100 9156
072 D000100 0
072 E000100 0
072 F000100 402
072 G000100 794
072 H000100 0
072 I000100 832
072 J000100 80
072 K000100 0
072 L000100 34
072 M000100 1
072 N000100 0
072 O000100 44
072 P000100 0
<PAGE> PAGE 8
072 Q000100 0
072 R000100 3
072 S000100 0
072 T000100 150
072 U000100 0
072 V000100 6
072 W000100 0
072 X000100 2346
072 Y000100 15
072 Z000100 8379
072AA000100 26763
072BB000100 3266
072CC010100 0
072CC020100 84986
072DD010100 946
072DD020100 0
072EE000100 2839
073 A010100 0.0200
073 A020100 0.0000
073 B000100 0.0600
073 C000100 0.0000
074 A000100 0
074 B000100 40563
074 C000100 0
074 D000100 0
074 E000100 0
074 F000100 963827
074 G000100 0
074 H000100 0
074 I000100 217
074 J000100 0
074 K000100 0
074 L000100 1662
074 M000100 0
074 N000100 1006269
074 O000100 0
074 P000100 373
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 9499
074 S000100 0
074 T000100 996397
074 U010100 46437
074 U020100 0
074 V010100 21.46
074 V020100 0.00
074 W000100 0.0000
074 X000100 59995
074 Y000100 0
<PAGE> PAGE 9
075 A000100 0
075 B000100 1132390
076 000100 0.00
008 A000201 WELLINGTON MANAGEMENT COMPANY
008 B000201 A
008 C000201 801-15908
008 D010201 BOSTON
008 D020201 MA
008 D030201 02109
024 000200 Y
025 A000201 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
025 B000201 13-5674085
025 C000201 D
025 D000201 99601
025 D000202 0
025 D000203 0
025 D000204 0
025 D000205 0
025 D000206 0
025 D000207 0
025 D000208 0
028 A010200 212519
028 A020200 0
028 A030200 0
028 A040200 28584
028 B010200 284736
028 B020200 84295
028 B030200 0
028 B040200 30905
028 C010200 260077
028 C020200 0
028 C030200 0
028 C040200 47983
028 D010200 232083
028 D020200 0
028 D030200 0
028 D040200 36435
028 E010200 269061
028 E020200 0
028 E030200 0
028 E040200 32953
028 F010200 342776
028 F020200 1
028 F030200 0
028 F040200 40386
028 G010200 1601252
028 G020200 84296
028 G030200 0
028 G040200 217246
028 H000200 0
037 000200 Y
<PAGE> PAGE 10
038 000200 124
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
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
<PAGE> PAGE 11
056 000200 Y
057 000200 N
070 A010200 Y
070 A020200 Y
070 B010200 Y
070 B020200 N
070 C010200 N
070 C020200 N
070 D010200 Y
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 Y
070 F020200 N
070 G010200 Y
070 G020200 N
070 H010200 Y
070 H020200 N
070 I010200 Y
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
070 K020200 N
070 L010200 Y
070 L020200 Y
070 M010200 Y
070 M020200 Y
070 N010200 Y
070 N020200 Y
070 O010200 Y
070 O020200 N
070 P010200 Y
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 1068259
071 B000200 93668
071 C000200 5284402
071 D000200 2
072 A000200 6
072 B000200 19414
072 C000200 30522
072 D000200 0
072 E000200 0
072 F000200 2163
072 G000200 3890
072 H000200 0
072 I000200 3815
<PAGE> PAGE 12
072 J000200 337
072 K000200 0
072 L000200 127
072 M000200 6
072 N000200 0
072 O000200 216
072 P000200 0
072 Q000200 0
072 R000200 5
072 S000200 0
072 T000200 636
072 U000200 0
072 V000200 24
072 W000200 0
072 X000200 11219
072 Y000200 129
072 Z000200 38846
072AA000200 34294
072BB000200 7008
072CC010200 783183
072CC020200 0
072DD010200 4820
072DD020200 0
072EE000200 83297
073 A010200 0.0700
073 A020200 0.0000
073 B000200 1.2100
073 C000200 0.0000
074 A000200 341
074 B000200 558091
074 C000200 424451
074 D000200 0
074 E000200 18255
074 F000200 6058490
074 G000200 0
074 H000200 0
074 I000200 1281
074 J000200 210
074 K000200 0
074 L000200 24538
074 M000200 0
074 N000200 7085657
074 O000200 75554
074 P000200 1393
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 59391
074 S000200 0
074 T000200 6949319
<PAGE> PAGE 13
074 U010200 81484
074 U020200 0
074 V010200 85.28
074 V020200 0.00
074 W000200 0.0000
074 X000200 337375
074 Y000200 0
075 A000200 0
075 B000200 5952158
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 E010301 X
024 000300 N
028 A010300 11268
028 A020300 0
028 A030300 0
028 A040300 6972
028 B010300 12821
028 B020300 826
028 B030300 0
028 B040300 8468
028 C010300 19311
028 C020300 0
028 C030300 0
028 C040300 9396
028 D010300 9007
028 D020300 0
028 D030300 0
028 D040300 8326
028 E010300 12572
028 E020300 0
028 E030300 0
028 E040300 6786
028 F010300 7793
028 F020300 0
028 F030300 0
028 F040300 6029
028 G010300 72772
028 G020300 826
028 G030300 0
028 G040300 45977
028 H000300 0
037 000300 Y
038 000300 185
039 000300 N
040 000300 N
045 000300 Y
<PAGE> PAGE 14
046 000300 N
047 000300 Y
048 000300 0.000
048 A010300 100000
048 A020300 0.300
048 B010300 150000
048 B020300 0.200
048 C010300 250000
048 C020300 0.150
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 500000
048 K020300 0.100
049 000300 N
050 000300 N
051 000300 N
052 000300 N
053 A000300 N
070 A010300 Y
070 A020300 Y
070 B010300 Y
070 B020300 N
070 C010300 N
070 C020300 N
070 D010300 Y
070 D020300 N
070 E010300 N
070 E020300 N
070 F010300 Y
070 F020300 N
070 G010300 Y
070 G020300 N
070 H010300 Y
070 H020300 N
070 I010300 Y
070 I020300 N
070 J010300 Y
070 J020300 Y
070 K010300 Y
<PAGE> PAGE 15
070 K020300 N
070 L010300 Y
070 L020300 Y
070 M010300 Y
070 M020300 Y
070 N010300 Y
070 N020300 Y
070 O010300 Y
070 O020300 N
070 P010300 Y
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
071 A000300 72034
071 B000300 41250
071 C000300 319449
071 D000300 13
072 A000300 6
072 B000300 420
072 C000300 3271
072 D000300 0
072 E000300 0
072 F000300 363
072 G000300 394
072 H000300 0
072 I000300 434
072 J000300 58
072 K000300 0
072 L000300 19
072 M000300 0
072 N000300 0
072 O000300 13
072 P000300 0
072 Q000300 0
072 R000300 3
072 S000300 0
072 T000300 41
072 U000300 0
072 V000300 3
072 W000300 0
072 X000300 1328
072 Y000300 0
072 Z000300 2363
072AA000300 7260
072BB000300 36557
072CC010300 0
072CC020300 31260
072DD010300 891
072DD020300 0
<PAGE> PAGE 16
072EE000300 0
073 A010300 0.0200
073 A020300 0.0000
073 B000300 0.0000
073 C000300 0.0000
074 A000300 0
074 B000300 14527
074 C000300 0
074 D000300 0
074 E000300 0
074 F000300 265874
074 G000300 0
074 H000300 0
074 I000300 22235
074 J000300 637
074 K000300 0
074 L000300 145
074 M000300 0
074 N000300 303418
074 O000300 0
074 P000300 225
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 7339
074 S000300 0
074 T000300 295854
074 U010300 47159
074 U020300 0
074 V010300 6.27
074 V020300 0.00
074 W000300 0.0000
074 X000300 33880
074 Y000300 0
075 A000300 0
075 B000300 330903
076 000300 0.00
024 000600 N
028 A010600 16654
028 A020600 0
028 A030600 0
028 A040600 12790
028 B010600 19180
028 B020600 12197
028 B030600 0
028 B040600 15316
028 C010600 13971
028 C020600 0
028 C030600 0
028 C040600 15058
<PAGE> PAGE 17
028 D010600 7545
028 D020600 0
028 D030600 0
028 D040600 11189
028 E010600 14764
028 E020600 5004
028 E030600 0
028 E040600 7291
028 F010600 15495
028 F020600 0
028 F030600 0
028 F040600 12713
028 G010600 87609
028 G020600 17201
028 G030600 0
028 G040600 74357
028 H000600 0
037 000600 N
038 000600 0
039 000600 N
040 000600 N
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
<PAGE> PAGE 18
053 A000600 N
070 A010600 Y
070 A020600 Y
070 B010600 Y
070 B020600 N
070 C010600 N
070 C020600 N
070 D010600 Y
070 D020600 N
070 E010600 N
070 E020600 N
070 F010600 Y
070 F020600 N
070 G010600 Y
070 G020600 N
070 H010600 Y
070 H020600 N
070 I010600 Y
070 I020600 N
070 J010600 Y
070 J020600 Y
070 K010600 Y
070 K020600 N
070 L010600 Y
070 L020600 Y
070 M010600 Y
070 M020600 N
070 N010600 Y
070 N020600 Y
070 O010600 Y
070 O020600 N
070 P010600 Y
070 P020600 N
070 Q010600 N
070 Q020600 N
070 R010600 N
070 R020600 N
071 A000600 280967
071 B000600 262195
071 C000600 716567
071 D000600 37
072 A000600 6
072 B000600 4290
072 C000600 10791
072 D000600 0
072 E000600 0
072 F000600 262
072 G000600 531
072 H000600 0
072 I000600 535
072 J000600 12
<PAGE> PAGE 19
072 K000600 0
072 L000600 20
072 M000600 1
072 N000600 0
072 O000600 28
072 P000600 0
072 Q000600 0
072 R000600 3
072 S000600 0
072 T000600 70
072 U000600 0
072 V000600 3
072 W000600 0
072 X000600 1465
072 Y000600 82
072 Z000600 13698
072AA000600 45680
072BB000600 2929
072CC010600 0
072CC020600 20830
072DD010600 13790
072DD020600 0
072EE000600 7070
073 A010600 0.2900
073 A020600 0.0000
073 B000600 0.1500
073 C000600 0.0000
074 A000600 0
074 B000600 27986
074 C000600 0
074 D000600 112153
074 E000600 0
074 F000600 614136
074 G000600 0
074 H000600 0
074 I000600 147
074 J000600 0
074 K000600 0
074 L000600 5169
074 M000600 0
074 N000600 759591
074 O000600 0
074 P000600 309
074 Q000600 0
074 R010600 0
074 R020600 0
074 R030600 0
074 R040600 14860
074 S000600 0
074 T000600 744422
074 U010600 48660
<PAGE> PAGE 20
074 U020600 0
074 V010600 15.30
074 V020600 0.00
074 W000600 0.0000
074 X000600 38759
074 Y000600 0
075 A000600 0
075 B000600 737593
076 000600 0.00
024 000700 N
028 A010700 47201
028 A020700 0
028 A030700 0
028 A040700 37980
028 B010700 46387
028 B020700 9028
028 B030700 0
028 B040700 93424
028 C010700 51879
028 C020700 1
028 C030700 0
028 C040700 45139
028 D010700 27925
028 D020700 0
028 D030700 0
028 D040700 30077
028 E010700 24014
028 E020700 17196
028 E030700 0
028 E040700 40037
028 F010700 23676
028 F020700 2
028 F030700 0
028 F040700 48782
028 G010700 221082
028 G020700 26227
028 G030700 0
028 G040700 295439
028 H000700 0
037 000700 Y
038 000700 693
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
<PAGE> PAGE 21
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
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 Y
070 J020700 N
070 K010700 N
070 K020700 N
070 L010700 N
070 L020700 N
070 M010700 N
070 M020700 N
070 N010700 Y
070 N020700 Y
070 O010700 Y
070 O020700 N
070 P010700 Y
070 P020700 Y
070 Q010700 N
070 Q020700 N
070 R010700 N
<PAGE> PAGE 22
070 R020700 N
071 A000700 221806
071 B000700 255681
071 C000700 1222193
071 D000700 18
072 A000700 6
072 B000700 1656
072 C000700 38136
072 D000700 0
072 E000700 0
072 F000700 15
072 G000700 453
072 H000700 0
072 I000700 848
072 J000700 7
072 K000700 0
072 L000700 23
072 M000700 1
072 N000700 0
072 O000700 48
072 P000700 0
072 Q000700 0
072 R000700 3
072 S000700 0
072 T000700 190
072 U000700 0
072 V000700 6
072 W000700 0
072 X000700 1594
072 Y000700 0
072 Z000700 38198
072AA000700 14985
072BB000700 5181
072CC010700 0
072CC020700 177725
072DD010700 29202
072DD020700 0
072EE000700 0
073 A010700 0.3200
073 A020700 0.0000
073 B000700 0.0000
073 C000700 0.0000
074 A000700 0
074 B000700 27855
074 C000700 0
074 D000700 0
074 E000700 0
074 F000700 1090614
074 G000700 0
074 H000700 0
074 I000700 231
<PAGE> PAGE 23
074 J000700 3259
074 K000700 0
074 L000700 3618
074 M000700 0
074 N000700 1125577
074 O000700 3174
074 P000700 248
074 Q000700 0
074 R010700 0
074 R020700 0
074 R030700 0
074 R040700 12478
074 S000700 0
074 T000700 1109677
074 U010700 90465
074 U020700 0
074 V010700 12.27
074 V020700 0.00
074 W000700 0.0000
074 X000700 59427
074 Y000700 0
075 A000700 0
075 B000700 1246213
076 000700 0.00
SIGNATURE GARY P. SOURA
TITLE MANAGER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000734383
<NAME> VANGUARD SPECIALIZED PORTFOLIOS
<SERIES>
<NUMBER> 01
<NAME> ENERGY PORTFOLIO
<MULTIPLIER> 1000
<CURRENCY> US
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JAN-31-1999
<PERIOD-START> FEB-01-1998
<PERIOD-END> JUL-31-1998
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 870363
<INVESTMENTS-AT-VALUE> 1004390
<RECEIVABLES> 1662
<ASSETS-OTHER> 217
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1006269
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 9872
<TOTAL-LIABILITIES> 9872
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 831193
<SHARES-COMMON-STOCK> 46437
<SHARES-COMMON-PRIOR> 48072
<ACCUMULATED-NII-CURRENT> 7663
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 23514
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 134027
<NET-ASSETS> 996397
<DIVIDEND-INCOME> 9156
<INTEREST-INCOME> 1554
<OTHER-INCOME> 0
<EXPENSES-NET> 2331
<NET-INVESTMENT-INCOME> 8379
<REALIZED-GAINS-CURRENT> 23497
<APPREC-INCREASE-CURRENT> (84986)
<NET-CHANGE-FROM-OPS> (53110)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 946
<DISTRIBUTIONS-OF-GAINS> 2839
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6360
<NUMBER-OF-SHARES-REDEEMED> 8134
<SHARES-REINVESTED> 139
<NET-CHANGE-IN-ASSETS> (94088)
<ACCUMULATED-NII-PRIOR> 243
<ACCUMULATED-GAINS-PRIOR> 2843
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 402
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2346
<AVERAGE-NET-ASSETS> 1132390
<PER-SHARE-NAV-BEGIN> 22.68
<PER-SHARE-NII> 0.17
<PER-SHARE-GAIN-APPREC> (1.31)
<PER-SHARE-DIVIDEND> 0.02
<PER-SHARE-DISTRIBUTIONS> 0.06
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 21.46
<EXPENSE-RATIO> 0.42
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000734383
<NAME> VANGUARD SPECIALIZED PORTFOLIOS
<SERIES>
<NUMBER> 02
<NAME> HEALTH CARE PORTFOLIO
<MULTIPLIER> 1000
<CURRENCY> US
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JAN-31-1999
<PERIOD-START> FEB-01-1998
<PERIOD-END> JUL-31-1998
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 4749474
<INVESTMENTS-AT-VALUE> 7059287
<RECEIVABLES> 24748
<ASSETS-OTHER> 1622
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 7085657
<PAYABLE-FOR-SECURITIES> 75554
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 60784
<TOTAL-LIABILITIES> 136338
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4575562
<SHARES-COMMON-STOCK> 81484
<SHARES-COMMON-PRIOR> 63765
<ACCUMULATED-NII-CURRENT> 37239
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 26707
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2309811
<NET-ASSETS> 6949319
<DIVIDEND-INCOME> 30522
<INTEREST-INCOME> 19414
<OTHER-INCOME> 0
<EXPENSES-NET> 11090
<NET-INVESTMENT-INCOME> 38846
<REALIZED-GAINS-CURRENT> 27286
<APPREC-INCREASE-CURRENT> 783183
<NET-CHANGE-FROM-OPS> 849315
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 4820
<DISTRIBUTIONS-OF-GAINS> 83297
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 19313
<NUMBER-OF-SHARES-REDEEMED> 2637
<SHARES-REINVESTED> 1043
<NET-CHANGE-IN-ASSETS> 2229500
<ACCUMULATED-NII-PRIOR> 3458
<ACCUMULATED-GAINS-PRIOR> 82473
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2163
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 11219
<AVERAGE-NET-ASSETS> 5952158
<PER-SHARE-NAV-BEGIN> 74.02
<PER-SHARE-NII> 0.48
<PER-SHARE-GAIN-APPREC> 12.06
<PER-SHARE-DIVIDEND> 0.07
<PER-SHARE-DISTRIBUTIONS> 1.21
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 85.28
<EXPENSE-RATIO> 0.38
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000734383
<NAME> VANGUARD SPECIALIZED PORTFOLIOS
<SERIES>
<NUMBER> 03
<NAME> GOLD & PRECIOUS METALS PORTFOLIO
<MULTIPLIER> 1000
<CURRENCY> US
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JAN-31-1999
<PERIOD-START> FEB-01-1998
<PERIOD-END> JUL-31-1998
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 431702
<INVESTMENTS-AT-VALUE> 302580
<RECEIVABLES> 782
<ASSETS-OTHER> 56
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 303418
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 7564
<TOTAL-LIABILITIES> 7564
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 510271
<SHARES-COMMON-STOCK> 47159
<SHARES-COMMON-PRIOR> 43496
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 2535
<ACCUMULATED-NET-GAINS> (82758)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (129124)
<NET-ASSETS> 295854
<DIVIDEND-INCOME> 3271
<INTEREST-INCOME> 420
<OTHER-INCOME> 0
<EXPENSES-NET> 1328
<NET-INVESTMENT-INCOME> 2363
<REALIZED-GAINS-CURRENT> (29297)
<APPREC-INCREASE-CURRENT> (31260)
<NET-CHANGE-FROM-OPS> (58194)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 891
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 9826
<NUMBER-OF-SHARES-REDEEMED> 6269
<SHARES-REINVESTED> 106
<NET-CHANGE-IN-ASSETS> (31464)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (53432)
<OVERDISTRIB-NII-PRIOR> 4036
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 363
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1328
<AVERAGE-NET-ASSETS> 330903
<PER-SHARE-NAV-BEGIN> 7.53
<PER-SHARE-NII> 0.06
<PER-SHARE-GAIN-APPREC> (1.30)
<PER-SHARE-DIVIDEND> 0.02
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 6.27
<EXPENSE-RATIO> 0.80
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000734383
<NAME> VANGUARD SPECIALIZED PORTFOLIOS
<SERIES>
<NUMBER> 06
<NAME> UTILITIES INCOME PORTFOLIO
<MULTIPLIER> 1000
<CURRENCY> US
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JAN-31-1999
<PERIOD-START> FEB-01-1998
<PERIOD-END> JUL-31-1998
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 612460
<INVESTMENTS-AT-VALUE> 754275
<RECEIVABLES> 5169
<ASSETS-OTHER> 147
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 759591
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 15169
<TOTAL-LIABILITIES> 15169
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 550935
<SHARES-COMMON-STOCK> 48660
<SHARES-COMMON-PRIOR> 46704
<ACCUMULATED-NII-CURRENT> 7833
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 43839
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 141815
<NET-ASSETS> 744422
<DIVIDEND-INCOME> 10791
<INTEREST-INCOME> 4290
<OTHER-INCOME> 0
<EXPENSES-NET> 1383
<NET-INVESTMENT-INCOME> 13698
<REALIZED-GAINS-CURRENT> 42751
<APPREC-INCREASE-CURRENT> (20830)
<NET-CHANGE-FROM-OPS> 35619
<EQUALIZATION> 273
<DISTRIBUTIONS-OF-INCOME> 13790
<DISTRIBUTIONS-OF-GAINS> 7070
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5707
<NUMBER-OF-SHARES-REDEEMED> 4852
<SHARES-REINVESTED> 1101
<NET-CHANGE-IN-ASSETS> 45485
<ACCUMULATED-NII-PRIOR> 7652
<ACCUMULATED-GAINS-PRIOR> 8158
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 262
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1465
<AVERAGE-NET-ASSETS> 737593
<PER-SHARE-NAV-BEGIN> 14.97
<PER-SHARE-NII> 0.29
<PER-SHARE-GAIN-APPREC> 0.48
<PER-SHARE-DIVIDEND> 0.29
<PER-SHARE-DISTRIBUTIONS> 0.15
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.30
<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
<SERIES>
<NUMBER> 07
<NAME> REIT INDEX PORTFOLIO
<MULTIPLIER> 1000
<CURRENCY> US
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JAN-31-1999
<PERIOD-START> FEB-01-1998
<PERIOD-END> JUL-31-1998
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 1128478
<INVESTMENTS-AT-VALUE> 1118469
<RECEIVABLES> 6877
<ASSETS-OTHER> 231
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1125577
<PAYABLE-FOR-SECURITIES> 3174
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 12726
<TOTAL-LIABILITIES> 15900
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1101105
<SHARES-COMMON-STOCK> 90465
<SHARES-COMMON-PRIOR> 94214
<ACCUMULATED-NII-CURRENT> 8777
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 9804
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (10009)
<NET-ASSETS> 1109677
<DIVIDEND-INCOME> 38136
<INTEREST-INCOME> 1656
<OTHER-INCOME> 0
<EXPENSES-NET> 1594
<NET-INVESTMENT-INCOME> 38198
<REALIZED-GAINS-CURRENT> 9804
<APPREC-INCREASE-CURRENT> (177725)
<NET-CHANGE-FROM-OPS> (129723)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 29202
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 16221
<NUMBER-OF-SHARES-REDEEMED> 21965
<SHARES-REINVESTED> 1995
<NET-CHANGE-IN-ASSETS> (207055)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 219
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 15
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1594
<AVERAGE-NET-ASSETS> 1246213
<PER-SHARE-NAV-BEGIN> 13.98
<PER-SHARE-NII> 0.42
<PER-SHARE-GAIN-APPREC> (1.81)
<PER-SHARE-DIVIDEND> 0.32
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.27
<EXPENSE-RATIO> 0.26
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
