FIDELITY SECURITIES FUND
NSAR-A, 1998-03-27
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<PAGE>      PAGE  1
000 A000000 01/31/98
000 C000000 0000754510
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 FIDELITY SECURITIES FUND
001 B000000 811-4118
001 C000000 6175631952
002 A000000 82 DEVONSHIRE STREET
002 B000000 BOSTON
002 C000000 MA
002 D010000 02109
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  4
007 C010100  1
007 C020100 FIDELITY OTC PORTFOLIO
007 C030100 N
007 C010200  2
007 C020200 FIDELITY GROWTH & INCOME PORTFOLIO
007 C030200 N
007 C010300  3
007 C020300 FIDELITY BLUE CHIP GROWTH FUND
007 C030300 N
007 C010400  4
007 C020400 FIDELITY DIVIDEND GROWTH FUND
007 C030400 N
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 FIDELITY MANAGEMENT & RESEARCH COMPANY
008 B00AA01 A
008 C00AA01 801-7884
008 D01AA01 BOSTON
008 D02AA01 MA
008 D03AA01 02109
008 A00AA02 FIDELITY MANAGEMENT & RESEARCH (U.K.) INC.
008 B00AA02 S
008 C00AA02 801-28773
008 D01AA02 LONDON
008 D05AA02 ENGLAND
<PAGE>      PAGE  2
008 A00AA03 FIDELITY MANAGEMENT & RESEARCH (FAR EAST) INC
008 B00AA03 S
008 C00AA03 801-28774
008 D01AA03 TOKYO
008 D05AA03 JAPAN
011 A00AA01 FIDELITY DISTRIBUTORS CORPORATION
011 B00AA01 8-8775
011 C01AA01 BOSTON
011 C02AA01 MA
011 C03AA01 02109
012 A00AA01 FIDELITY SERVICE COMPANY, INC.
012 B00AA01 84-00216
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02109
013 A00AA01 COOPERS & LYBRAND L.L.P.
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02109
014 A00AA01 FIDELITY BROKERAGE SERVICES, INC.
014 B00AA01 8-23292
014 A00AA02 FIDELITY DISTRIBUTORS CORPORATION
014 B00AA02 8-8775
014 A00AA03 FIDELITY BROKERAGE SERVICES
014 B00AA03 8-00000
014 A00AA04 NATIONAL FINANCIAL SERVICES CORP.
014 B00AA04 8-26740
018  00AA00 Y
019 A00AA00 Y
019 B00AA00  225
019 C00AA00 FIDELITYZZ
020 A000001 FIDELITY BROKERAGE SERVICES INC.
020 B000001 04-2270522
020 C000001   3500
020 A000002 MORGAN STANLEY & CO., INC.
020 B000002 13-2655998
020 C000002   1734
020 A000003 CS FIRST BOSTON CORP.
020 B000003 13-5659485
020 C000003   1172
020 A000004 DONALD LUFKIN & JENRETTE SECURITIES CORP.
020 B000004 13-2741729
020 C000004   1070
020 A000005 SALOMON SMITH BARNEY, INC.
020 B000005 22-1660266
020 C000005    861
020 A000006 BROWN (ALEX.) & SONS, INC.
020 B000006 52-1319768
020 C000006    736
020 A000007 GOLDMAN SACHS & CO.
020 B000007 13-5108880
<PAGE>      PAGE  3
020 C000007    665
020 A000008 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
020 B000008 13-5674085
020 C000008    640
020 A000009 BEAR STEARNS & CO., INC.
020 B000009 13-3299429
020 C000009    531
020 A000010 BERNSTEIN (SANFORD C.) & CO., INC.
020 B000010 13-2625874
020 C000010    522
021  000000    17508
022 A000001 TAXABLE CENTRAL CASH FUND
022 B000001 04-3331103
022 C000001   5696776
022 D000001   4830171
022 A000002 SALOMON SMITH BARNEY, INC.
022 B000002 22-1660266
022 C000002   1206153
022 D000002    462496
022 A000003 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
022 B000003 13-5674085
022 C000003    649997
022 D000003    684040
022 A000004 GOLDMAN SACH & CO.
022 B000004 13-5108880
022 C000004    469807
022 D000004    398012
022 A000005 MORGAN STANLEY & CO. INC.
022 B000005 13-2655998
022 C000005    356170
022 D000005    428352
022 A000006 INSTINET CORP.
022 B000006 13-3443395
022 C000006    353116
022 D000006    359408
022 A000007 CS FIRST BOSTON CORP.
022 B000007 13-5659485
022 C000007    191452
022 D000007    209175
022 A000008 FIDELITY CONTRAFUND
022 B000008 04-6056833
022 C000008    140906
022 D000008    112844
022 A000009 BROWN (ALEX.) & SON, INC.
022 B000009 52-1319768
022 C000009     91241
022 D000009    107599
022 A000010 PRUDENTIAL SECURITIES, INC.
022 B000010 22-2347336
022 C000010     87386
022 D000010     83638
<PAGE>      PAGE  4
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
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015 A000101 BROWN BROTHERS HARRIMAN & CO.
015 B000101 C
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025 B000101 04-3331103
025 C000101 D
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<PAGE>      PAGE  7
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057  000100 N
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<PAGE>      PAGE  8
070 F020100 N
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<PAGE>      PAGE  9
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015 A000201 THE CHASE MANHATTAN BANK
015 B000201 C
015 C010201 NEW YORK
<PAGE>      PAGE  10
015 C020201 NY
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024  000200 Y
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025 D000201 2152404
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<PAGE>      PAGE  11
031 B000200      0
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<PAGE>      PAGE  12
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<PAGE>      PAGE  13
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015 A000301 BROWN BROTHERS HARRIMAN & CO.
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<PAGE>      PAGE  14
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<PAGE>      PAGE  15
036 B000300      0
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<PAGE>      PAGE  16
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<PAGE>      PAGE  17
073 B000300   1.7500
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015 A000401 BROWN BROTHERS HARRIMAN & CO.
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<PAGE>      PAGE  18
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028 E030400         0
028 E040400    149878
028 F010400    356551
028 F020400         0
028 F030400         0
028 F040400    204237
028 G010400   1484954
028 G020400    412980
028 G030400         0
028 G040400   1313539
028 H000400         0
029  000400 N
030 A000400      0
030 B000400  0.00
030 C000400  0.00
031 A000400      0
031 B000400      0
032  000400      0
033  000400      0
034  000400 N
035  000400      0
036 B000400      0
037  000400 N
038  000400      0
039  000400 N
040  000400 Y
041  000400 N
049  000400 N
050  000400 N
<PAGE>      PAGE  19
051  000400 Y
052  000400 Y
053 A000400 Y
053 B000400 Y
053 C000400 N
055 A000400 N
055 B000400 N
056  000400 Y
057  000400 N
066 A000400 Y
066 B000400 N
066 C000400 N
066 D000400 Y
066 E000400 N
066 F000400 N
066 G000400 N
067  000400 N
068 A000400 N
068 B000400 N
069  000400 N
070 A010400 Y
070 A020400 Y
070 B010400 Y
070 B020400 N
070 C010400 Y
070 C020400 N
070 D010400 Y
070 D020400 N
070 E010400 Y
070 E020400 N
070 F010400 Y
070 F020400 N
070 G010400 Y
070 G020400 N
070 H010400 Y
070 H020400 N
070 I010400 Y
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
070 K020400 Y
070 L010400 Y
070 L020400 Y
070 M010400 Y
070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 Y
<PAGE>      PAGE  20
070 P020400 Y
070 Q010400 N
070 Q020400 N
070 R010400 Y
070 R020400 N
071 A000400   2709172
071 B000400   2565080
071 C000400   4192317
071 D000400   61
072 A000400  6
072 B000400     5743
072 C000400    25928
072 D000400        0
072 E000400        0
072 F000400    14356
072 G000400        0
072 H000400        0
072 I000400     4615
072 J000400       47
072 K000400        0
072 L000400        0
072 M000400        8
072 N000400      237
072 O000400        0
072 P000400        0
072 Q000400      404
072 R000400       25
072 S000400       11
072 T000400        0
072 U000400        0
072 V000400        0
072 W000400       16
072 X000400    19719
072 Y000400      653
072 Z000400    12605
072AA000400   268201
072BB000400        0
072CC010400        0
072CC020400    37408
072DD010400    26748
072DD020400        0
072EE000400   391693
073 A010400   0.1500
073 A020400   0.0000
073 B000400   2.1900
073 C000400   0.0000
074 A000400       79
074 B000400        0
074 C000400        0
074 D000400    15450
074 E000400    76702
<PAGE>      PAGE  21
074 F000400  4473554
074 G000400        0
074 H000400        0
074 I000400   234258
074 J000400    51811
074 K000400        0
074 L000400    45939
074 M000400        0
074 N000400  4897793
074 O000400   101607
074 P000400     2560
074 Q000400        0
074 R010400        0
074 R020400        0
074 R030400        0
074 R040400    16692
074 S000400        0
074 T000400  4776934
074 U010400   199312
074 U020400        0
074 V010400    23.97
074 V020400     0.00
074 W000400   0.0000
074 X000400   354275
074 Y000400        0
075 A000400        0
075 B000400  4372688
076  000400     0.00
SIGNATURE   JOHN H. COSTELLO                             
TITLE       ASSISTANT TREASURER 
 


<TABLE> <S> <C>

<ARTICLE> 6
 

<CIK>     0000754510


<NAME>      Fidelity Securities Fund


<SERIES>

        <NUMBER>        11


        <NAME>      Fidelity OTC Portfolio


<MULTIPLIER>    1,000


       

<S>

<C>

<PERIOD-TYPE>

6-mos


<FISCAL-YEAR-END>

JUL-31-1998


<PERIOD-END>

Jan-31-1998


<INVESTMENTS-AT-COST>

3,306,603


<INVESTMENTS-AT-VALUE>

3,871,734


<RECEIVABLES>

120,286


<ASSETS-OTHER>

0


<OTHER-ITEMS-ASSETS>

0


<TOTAL-ASSETS>

3,992,020


<PAYABLE-FOR-SECURITIES>

82,702


<SENIOR-LONG-TERM-DEBT>

0


<OTHER-ITEMS-LIABILITIES>

31,630


<TOTAL-LIABILITIES>

114,332


<SENIOR-EQUITY>

0


<PAID-IN-CAPITAL-COMMON>

3,164,589


<SHARES-COMMON-STOCK>

113,368


<SHARES-COMMON-PRIOR>

104,600


<ACCUMULATED-NII-CURRENT>

(5,481)


<OVERDISTRIBUTION-NII>

0


<ACCUMULATED-NET-GAINS>

153,447


<OVERDISTRIBUTION-GAINS>

0


<ACCUM-APPREC-OR-DEPREC>

565,133


<NET-ASSETS>

3,877,688


<DIVIDEND-INCOME>

4,820


<INTEREST-INCOME>

5,031


<OTHER-INCOME>

0


<EXPENSES-NET>

15,328


<NET-INVESTMENT-INCOME>

(5,477)


<REALIZED-GAINS-CURRENT>

323,796


<APPREC-INCREASE-CURRENT>

(513,247)


<NET-CHANGE-FROM-OPS>

(194,928)


<EQUALIZATION>

0


<DISTRIBUTIONS-OF-INCOME>

0


<DISTRIBUTIONS-OF-GAINS>

272,884


<DISTRIBUTIONS-OTHER>

0


<NUMBER-OF-SHARES-SOLD>

52,983


<NUMBER-OF-SHARES-REDEEMED>

52,021


<SHARES-REINVESTED>

7,806


<NET-CHANGE-IN-ASSETS>

(145,451)


<ACCUMULATED-NII-PRIOR>

(4)


<ACCUMULATED-GAINS-PRIOR>

171,727


<OVERDISTRIB-NII-PRIOR>

0


<OVERDIST-NET-GAINS-PRIOR>

0


<GROSS-ADVISORY-FEES>

10,314


<INTEREST-EXPENSE>

1


<GROSS-EXPENSE>

15,563


<AVERAGE-NET-ASSETS>

4,045,509


<PER-SHARE-NAV-BEGIN>

38.460


<PER-SHARE-NII>

(.050)


<PER-SHARE-GAIN-APPREC>

(1.690)


<PER-SHARE-DIVIDEND>

0


<PER-SHARE-DISTRIBUTIONS>

2.520


<RETURNS-OF-CAPITAL>

0


<PER-SHARE-NAV-END>

34.200


<EXPENSE-RATIO>

77


<AVG-DEBT-OUTSTANDING>

0


<AVG-DEBT-PER-SHARE>

0



        



</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
 

<CIK>     0000754510


<NAME>      Fidelity Securities Fund


<SERIES>

        <NUMBER>        21


        <NAME>      Fidelity Growth & Income Portfolio


<MULTIPLIER>    1,000


       

<S>

<C>

<PERIOD-TYPE>

6-mos


<FISCAL-YEAR-END>

JUL-31-1998


<PERIOD-END>

Jan-31-1998


<INVESTMENTS-AT-COST>

25,674,023


<INVESTMENTS-AT-VALUE>

38,093,654


<RECEIVABLES>

384,207


<ASSETS-OTHER>

0


<OTHER-ITEMS-ASSETS>

0


<TOTAL-ASSETS>

38,477,861


<PAYABLE-FOR-SECURITIES>

510,996


<SENIOR-LONG-TERM-DEBT>

0


<OTHER-ITEMS-LIABILITIES>

73,482


<TOTAL-LIABILITIES>

584,478


<SENIOR-EQUITY>

0


<PAID-IN-CAPITAL-COMMON>

25,215,017


<SHARES-COMMON-STOCK>

979,455


<SHARES-COMMON-PRIOR>

890,550


<ACCUMULATED-NII-CURRENT>

20,392


<OVERDISTRIBUTION-NII>

0


<ACCUMULATED-NET-GAINS>

238,404


<OVERDISTRIBUTION-GAINS>

0


<ACCUM-APPREC-OR-DEPREC>

12,419,570


<NET-ASSETS>

37,893,383


<DIVIDEND-INCOME>

241,501


<INTEREST-INCOME>

60,434


<OTHER-INCOME>

0


<EXPENSES-NET>

119,671


<NET-INVESTMENT-INCOME>

182,264


<REALIZED-GAINS-CURRENT>

516,129


<APPREC-INCREASE-CURRENT>

1,031,420


<NET-CHANGE-FROM-OPS>

1,729,813


<EQUALIZATION>

0


<DISTRIBUTIONS-OF-INCOME>

194,333


<DISTRIBUTIONS-OF-GAINS>

1,237,600


<DISTRIBUTIONS-OTHER>

0


<NUMBER-OF-SHARES-SOLD>

153,440


<NUMBER-OF-SHARES-REDEEMED>

102,912


<SHARES-REINVESTED>

38,377


<NET-CHANGE-IN-ASSETS>

3,609,697


<ACCUMULATED-NII-PRIOR>

32,461


<ACCUMULATED-GAINS-PRIOR>

1,020,360


<OVERDISTRIB-NII-PRIOR>

0


<OVERDIST-NET-GAINS-PRIOR>

0


<GROSS-ADVISORY-FEES>

86,561


<INTEREST-EXPENSE>

0


<GROSS-EXPENSE>

122,240


<AVERAGE-NET-ASSETS>

35,002,635


<PER-SHARE-NAV-BEGIN>

38.500


<PER-SHARE-NII>

 .190


<PER-SHARE-GAIN-APPREC>

1.570


<PER-SHARE-DIVIDEND>

 .210


<PER-SHARE-DISTRIBUTIONS>

1.360


<RETURNS-OF-CAPITAL>

0


<PER-SHARE-NAV-END>

38.690


<EXPENSE-RATIO>

70


<AVG-DEBT-OUTSTANDING>

0


<AVG-DEBT-PER-SHARE>

0



        



</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
 

<CIK>     0000754510


<NAME>      Fidelity Securities Fund


<SERIES>

        <NUMBER>        31


        <NAME>      Fidelity Blue Chip Growth Fund


<MULTIPLIER>    1,000


       

<S>

<C>

<PERIOD-TYPE>

6-mos


<FISCAL-YEAR-END>

JUL-31-1998


<PERIOD-END>

Jan-31-1998


<INVESTMENTS-AT-COST>

10,604,395


<INVESTMENTS-AT-VALUE>

13,991,154


<RECEIVABLES>

341,560


<ASSETS-OTHER>

0


<OTHER-ITEMS-ASSETS>

0


<TOTAL-ASSETS>

14,332,714


<PAYABLE-FOR-SECURITIES>

293,855


<SENIOR-LONG-TERM-DEBT>

0


<OTHER-ITEMS-LIABILITIES>

34,477


<TOTAL-LIABILITIES>

328,332


<SENIOR-EQUITY>

0


<PAID-IN-CAPITAL-COMMON>

10,372,794


<SHARES-COMMON-STOCK>

348,398


<SHARES-COMMON-PRIOR>

312,497


<ACCUMULATED-NII-CURRENT>

5,670


<OVERDISTRIBUTION-NII>

0


<ACCUMULATED-NET-GAINS>

239,191


<OVERDISTRIBUTION-GAINS>

0


<ACCUM-APPREC-OR-DEPREC>

3,386,727


<NET-ASSETS>

14,004,382


<DIVIDEND-INCOME>

68,033


<INTEREST-INCOME>

16,119


<OTHER-INCOME>

0


<EXPENSES-NET>

45,766


<NET-INVESTMENT-INCOME>

38,386


<REALIZED-GAINS-CURRENT>

461,512


<APPREC-INCREASE-CURRENT>

(133,914)


<NET-CHANGE-FROM-OPS>

365,984


<EQUALIZATION>

0


<DISTRIBUTIONS-OF-INCOME>

83,739


<DISTRIBUTIONS-OF-GAINS>

562,655


<DISTRIBUTIONS-OTHER>

0


<NUMBER-OF-SHARES-SOLD>

61,874


<NUMBER-OF-SHARES-REDEEMED>

42,333


<SHARES-REINVESTED>

16,360


<NET-CHANGE-IN-ASSETS>

1,127,082


<ACCUMULATED-NII-PRIOR>

55,275


<ACCUMULATED-GAINS-PRIOR>

369,813


<OVERDISTRIB-NII-PRIOR>

0


<OVERDIST-NET-GAINS-PRIOR>

0


<GROSS-ADVISORY-FEES>

30,516


<INTEREST-EXPENSE>

0


<GROSS-EXPENSE>

46,934


<AVERAGE-NET-ASSETS>

13,030,532


<PER-SHARE-NAV-BEGIN>

41.210


<PER-SHARE-NII>

 .120


<PER-SHARE-GAIN-APPREC>

 .880


<PER-SHARE-DIVIDEND>

 .260


<PER-SHARE-DISTRIBUTIONS>

1.750


<RETURNS-OF-CAPITAL>

0


<PER-SHARE-NAV-END>

40.200


<EXPENSE-RATIO>

72


<AVG-DEBT-OUTSTANDING>

0


<AVG-DEBT-PER-SHARE>

0



        



</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
 

<CIK>     0000754510


<NAME>      Fidelity Securities Fund


<SERIES>

        <NUMBER>        41


        <NAME>      Fidelity Dividend Growth Fund


<MULTIPLIER>    1,000


       

<S>

<C>

<PERIOD-TYPE>

6-mos


<FISCAL-YEAR-END>

JUL-31-1998


<PERIOD-END>

Jan-31-1998


<INVESTMENTS-AT-COST>

3,998,904


<INVESTMENTS-AT-VALUE>

4,799,964


<RECEIVABLES>

97,751


<ASSETS-OTHER>

79


<OTHER-ITEMS-ASSETS>

0


<TOTAL-ASSETS>

4,897,794


<PAYABLE-FOR-SECURITIES>

101,607


<SENIOR-LONG-TERM-DEBT>

0


<OTHER-ITEMS-LIABILITIES>

19,253


<TOTAL-LIABILITIES>

120,860


<SENIOR-EQUITY>

0


<PAID-IN-CAPITAL-COMMON>

3,871,368


<SHARES-COMMON-STOCK>

199,311


<SHARES-COMMON-PRIOR>

174,181


<ACCUMULATED-NII-CURRENT>

3,503


<OVERDISTRIBUTION-NII>

0


<ACCUMULATED-NET-GAINS>

101,003


<OVERDISTRIBUTION-GAINS>

0


<ACCUM-APPREC-OR-DEPREC>

801,060


<NET-ASSETS>

4,776,934


<DIVIDEND-INCOME>

25,928


<INTEREST-INCOME>

5,744


<OTHER-INCOME>

0


<EXPENSES-NET>

19,066


<NET-INVESTMENT-INCOME>

12,606


<REALIZED-GAINS-CURRENT>

268,200


<APPREC-INCREASE-CURRENT>

(37,408)


<NET-CHANGE-FROM-OPS>

243,398


<EQUALIZATION>

0


<DISTRIBUTIONS-OF-INCOME>

26,748


<DISTRIBUTIONS-OF-GAINS>

391,693


<DISTRIBUTIONS-OTHER>

0


<NUMBER-OF-SHARES-SOLD>

62,292


<NUMBER-OF-SHARES-REDEEMED>

55,121


<SHARES-REINVESTED>

17,960


<NET-CHANGE-IN-ASSETS>

409,353


<ACCUMULATED-NII-PRIOR>

20,704


<ACCUMULATED-GAINS-PRIOR>

264,331


<OVERDISTRIB-NII-PRIOR>

0


<OVERDIST-NET-GAINS-PRIOR>

0


<GROSS-ADVISORY-FEES>

14,357


<INTEREST-EXPENSE>

0


<GROSS-EXPENSE>

19,720


<AVERAGE-NET-ASSETS>

4,372,688


<PER-SHARE-NAV-BEGIN>

25.070


<PER-SHARE-NII>

 .070


<PER-SHARE-GAIN-APPREC>

1.170


<PER-SHARE-DIVIDEND>

 .150


<PER-SHARE-DISTRIBUTIONS>

2.190


<RETURNS-OF-CAPITAL>

0


<PER-SHARE-NAV-END>

23.970


<EXPENSE-RATIO>

90


<AVG-DEBT-OUTSTANDING>

0


<AVG-DEBT-PER-SHARE>

0



        



</TABLE>


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