VANGUARD SPECIALIZED PORTFOLIOS INC
NSAR-B, 1998-03-26
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<PAGE>      PAGE  1
000 B000000 01/31/98
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, 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
014 A00AA01 VANGUARD MARKETING CORP.
014 B00AA01 8-21570
018  00AA00 Y
019 A00AA00 Y
019 B00AA00   94
019 C00AA00 VANGUARDGR
020 A000001 GOLDMAN SACHS & CO.
020 B000001 13-5108880
020 C000001    330
<PAGE>      PAGE  2
020 A000002 FRANK RUSSELL SECURITIES, INC.
020 B000002 91-0604934
020 C000002    299
020 A000003 SMITH BARNEY/SALOMON
020 B000003 13-1912900
020 C000003    296
020 A000004 CS FIRST BOSTON CORP.
020 B000004 13-5659485
020 C000004    230
020 A000005 PAINEWEBBER INC.
020 B000005 13-2638166
020 C000005    225
020 A000006 BEAR, STEARNS & CO., INC.
020 B000006 13-3299429
020 C000006    218
020 A000007 MORGAN STANLEY & CO., INC.
020 B000007 13-2655998
020 C000007    166
020 A000008 HARTLEY POYNTON & CO./AUSTRALIA
020 C000008    165
020 A000009 PICTET & CIE/GENEVA
020 C000009    160
020 A000010 UBS SECURITIES LLC
020 B000010 13-3873456
020 C000010    154
021  000000     4904
022 A000001 THE VANGUARD GROUP, INC.
022 B000001 23-1945930
022 C000001   1602621
022 D000001   1512528
022 A000002 RHONE-POULENC RORER, INC.
022 C000002         0
022 D000002     95060
022 A000003 SMITH BARNEY/SALOMON
022 B000003 13-1912900
022 C000003     54029
022 D000003     11223
022 A000004 DEUTSCHE MORGAN GRENFELL/C.J. LAWRENCE INC.
022 B000004 13-2730828
022 C000004     25447
022 D000004     25278
022 A000005 CS FIRST BOSTON CORP.
022 B000005 13-5659485
022 C000005     42877
022 D000005       201
022 A000006 MORGAN STANLEY & CO., INC.
022 B000006 13-2655998
022 C000006     28430
022 D000006      4973
022 A000007 UBS SECURITIES LLC
022 B000007 13-3873456
<PAGE>      PAGE  3
022 C000007     29427
022 D000007        91
022 A000008 HEALTHSOURCE, INC.
022 C000008         0
022 D000008     28275
022 A000009 PATRIOT AMERICAN HOSPITALITY, INC. REIT
022 C000009     12436
022 D000009     12436
022 A000010 MERRILL LYNCH, PIERCE, FENNER & SMITH
022 B000010 13-5674085
022 C000010     13666
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023 D000000    1806364
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<PAGE>      PAGE  4
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080 A00AA00 ICI MUTUAL INSURANCE COMPANY
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<PAGE>      PAGE  6
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<PAGE>      PAGE  8
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<PAGE>      PAGE  9
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SIGNATURE   GARY P. SOURA                                
TITLE       MANAGER             
 


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<NAME> VANGUARD SPECIALIZED PORTFOLIOS, INC.
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<NAME> VANGUARD SPECIALIZED PORTFOLIOS, INC.
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