<PAGE> PAGE 1
000 B000000 12/31/95
000 C000000 0000784055
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 U
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001 B000000 811-4504
001 C000000 6024178100
002 A000000 2 RENAISSANCE SQUARE, 40 N CENTRAL 1200
002 B000000 PHOENIX
002 C000000 AZ
002 D010000 85004
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008 C000001 801-48282
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010 A000001 PILGRIM AMERICA GROUP, INC.
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011 C010001 PHOENIX
011 C020001 AZ
011 C030001 85004
012 A000001 INVESTORS FIDUCIARY TRUST COMPANY
012 B000001 85-00535
012 C010001 KANSAS CITY
012 C020001 MO
<PAGE> PAGE 2
012 C030001 64141
013 A000001 KPMG PEAT MARWICK
013 B010001 LOS ANGELES
013 B020001 CA
013 B030001 90017
015 A000001 INVESTORS FIDUCIARY TRUST COMPANY
015 B000001 C
015 C010001 KANSAS CITY
015 C020001 MO
015 C030001 64141
015 C040001 1716
015 E010001 X
018 000000 Y
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020 A000001 AUTRANET
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020 C000001 24
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020 C000002 8
020 A000003 KEEFE BRUYETTE
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020 C000003 7
020 A000004 PAINE WEBBER
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<PAGE> PAGE 3
022 A000002 PRUDENTIAL BACHE
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022 C000002 160050
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022 C000004 10007
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022 C000007 5206
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022 C000008 4418
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022 C000009 3399
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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SIGNATURE MICHAEL J ROLAND
TITLE SENIOR V.P.
<TABLE> <S> <C>
<ARTICLE> 6
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> DEC-31-1995
<INVESTMENTS-AT-COST> 123,945,730
<INVESTMENTS-AT-VALUE> 216,090,623
<RECEIVABLES> 1,860,856
<ASSETS-OTHER> 3,962
<OTHER-ITEMS-ASSETS> 9,515
<TOTAL-ASSETS> 217,965,056
<PAYABLE-FOR-SECURITIES> 462,500
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 7,749,481
<TOTAL-LIABILITIES> 8,211,981
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 119,431,703
<SHARES-COMMON-STOCK> 14,141,241
<SHARES-COMMON-PRIOR> 14,141,241
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 21,591
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 1,801,930
<ACCUM-APPREC-OR-DEPREC> 92,144,893
<NET-ASSETS> 209,753,075
<DIVIDEND-INCOME> 5,982,992
<INTEREST-INCOME> 269,223
<OTHER-INCOME> 3,968
<EXPENSES-NET> (1,916,663)
<NET-INVESTMENT-INCOME> 4,339,520
<REALIZED-GAINS-CURRENT> 10,039,472
<APPREC-INCREASE-CURRENT> 57,607,407
<NET-CHANGE-FROM-OPS> 71,986,399
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4,339,520)
<DISTRIBUTIONS-OF-GAINS> (9,123,342)
<DISTRIBUTIONS-OTHER> (477,369)
<NUMBER-OF-SHARES-SOLD> (149,065)
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 149,065
<NET-CHANGE-IN-ASSETS> 58,046,168
<ACCUMULATED-NII-PRIOR> 582,953
<ACCUMULATED-GAINS-PRIOR> 232,359
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,421,324
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,918,630
<AVERAGE-NET-ASSETS> 183,403,205
<PER-SHARE-NAV-BEGIN> 10.73
<PER-SHARE-NII> .31
<PER-SHARE-GAIN-APPREC> 4.78
<PER-SHARE-DIVIDEND> (.31)
<PER-SHARE-DISTRIBUTIONS> (.65)
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<PER-SHARE-NAV-END> 14.83
<EXPENSE-RATIO> 1.05
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
