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084 A000400 N
084 B000400 0
085 A000400 Y
085 B000400 N
024 000500 N
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025 D000502 0
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025 D000504 0
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028 A010500 99
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028 B010500 217
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<PAGE> PAGE 21
028 C030500 0
028 C040500 35
028 D010500 134
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028 E010500 220
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028 F020500 86
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028 F040500 61
028 G010500 1159
028 G020500 86
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028 G040500 276
028 H000500 0
045 000500 Y
046 000500 N
047 000500 Y
048 000500 0.740
048 A010500 0
048 A020500 0.000
048 B010500 0
048 B020500 0.000
048 C010500 0
048 C020500 0.000
048 D010500 0
048 D020500 0.000
048 E010500 0
048 E020500 0.000
048 F010500 0
048 F020500 0.000
048 G010500 0
048 G020500 0.000
048 H010500 0
048 H020500 0.000
048 I010500 0
048 I020500 0.000
048 J010500 0
048 J020500 0.000
048 K010500 0
048 K020500 0.000
062 A000500 N
062 B000500 0.0
062 C000500 0.0
062 D000500 0.0
062 E000500 0.0
062 F000500 0.0
<PAGE> PAGE 22
062 G000500 0.0
062 H000500 0.0
062 I000500 0.0
062 J000500 0.0
062 K000500 0.0
062 L000500 0.0
062 M000500 0.0
062 N000500 0.0
062 O000500 0.0
062 P000500 0.0
062 Q000500 0.0
062 R000500 0.0
063 A000500 0
063 B000500 0.0
066 A000500 Y
066 B000500 N
066 C000500 N
066 D000500 Y
066 E000500 N
066 F000500 N
066 G000500 N
067 000500 N
068 A000500 N
068 B000500 N
069 000500 N
071 A000500 2070
071 B000500 1016
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<PAGE> PAGE 23
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074 X000500 2
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076 000500 0.00
080 A000500 UNITED PACIFIC INSURANCE COMPANY
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081 A000500 Y
<PAGE> PAGE 24
081 B000500 4
082 A000500 N
082 B000500 0
083 A000500 N
083 B000500 0
084 A000500 N
084 B000500 0
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SIGNATURE DAVID F. HILL
TITLE PRESIDENT
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 795892
<NAME> SAFECO RESOURCE SERIES TRUST
<SERIES>
<NUMBER> 1
<NAME> SAFECO RST EQUITY PORTFOLIO
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
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<PERIOD-START> JAN-01-1995
<PERIOD-END> DEC-31-1995
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<INVESTMENTS-AT-VALUE> 172,053
<RECEIVABLES> 851
<ASSETS-OTHER> 443
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<TOTAL-ASSETS> 173,347
<PAYABLE-FOR-SECURITIES> 3,758
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 110
<TOTAL-LIABILITIES> 3,868
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 144,995
<SHARES-COMMON-STOCK> 8,807
<SHARES-COMMON-PRIOR> 6,081
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 24,484
<NET-ASSETS> 169,479
<DIVIDEND-INCOME> 3,617
<INTEREST-INCOME> 421
<OTHER-INCOME> 0
<EXPENSES-NET> 1,011
<NET-INVESTMENT-INCOME> 3,027
<REALIZED-GAINS-CURRENT> 15,778
<APPREC-INCREASE-CURRENT> 14,951
<NET-CHANGE-FROM-OPS> 33,756
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 3,027
<DISTRIBUTIONS-OF-GAINS> 15,778
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,832
<NUMBER-OF-SHARES-REDEEMED> (1,083)
<SHARES-REINVESTED> 977
<NET-CHANGE-IN-ASSETS> 67,158
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
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<GROSS-ADVISORY-FEES> 961
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<GROSS-EXPENSE> 1,011
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<PER-SHARE-NAV-BEGIN> 16.83
<PER-SHARE-NII> 0.39
<PER-SHARE-GAIN-APPREC> 4.43
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 795892
<NAME> SAFECO RESOURCE SERIES TRUST
<SERIES>
<NUMBER> 5
<NAME> SAFECO RST NORTHWEST PORTFOLIO
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> JAN-01-1995
<PERIOD-END> DEC-31-1995
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<INVESTMENTS-AT-COST> 5,998
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<SHARES-COMMON-PRIOR> 446
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<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 196
<NET-ASSETS> 6,312
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<EXPENSES-NET> 40
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<NUMBER-OF-SHARES-REDEEMED> (45)
<SHARES-REINVESTED> 5
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<PER-SHARE-NAV-BEGIN> 10.24
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<PER-SHARE-DIVIDEND> 0.08
<PER-SHARE-DISTRIBUTIONS> 0.07
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<PER-SHARE-NAV-END> 10.85
<EXPENSE-RATIO> 0.71
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 795892
<NAME> SAFECO RESOURCE SERIES TRUST
<SERIES>
<NUMBER> 4
<NAME> SAFECO RST GROWTH PORTFOLIO
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> JAN-01-1995
<PERIOD-END> DEC-31-1995
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 39,475
<INVESTMENTS-AT-VALUE> 44,602
<RECEIVABLES> 45
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<TOTAL-ASSETS> 44,973
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<OTHER-ITEMS-LIABILITIES> 515
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<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 39,331
<SHARES-COMMON-STOCK> 2,800
<SHARES-COMMON-PRIOR> 1,245
<ACCUMULATED-NII-CURRENT> 0
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<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 5,127
<NET-ASSETS> 44,458
<DIVIDEND-INCOME> 316
<INTEREST-INCOME> 55
<OTHER-INCOME> 0
<EXPENSES-NET> 218
<NET-INVESTMENT-INCOME> 153
<REALIZED-GAINS-CURRENT> 5,752
<APPREC-INCREASE-CURRENT> 4,187
<NET-CHANGE-FROM-OPS> 10,092
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<DISTRIBUTIONS-OF-INCOME> 153
<DISTRIBUTIONS-OF-GAINS> 5,752
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,537
<NUMBER-OF-SHARES-REDEEMED> (323)
<SHARES-REINVESTED> 341
<NET-CHANGE-IN-ASSETS> 28,302
<ACCUMULATED-NII-PRIOR> 0
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<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
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<GROSS-EXPENSE> 232
<AVERAGE-NET-ASSETS> 27,635
<PER-SHARE-NAV-BEGIN> 12.98
<PER-SHARE-NII> 0.06
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<PER-SHARE-NAV-END> 15.88
<EXPENSE-RATIO> 0.79
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 795892
<NAME> SAFECO RESOURCE SERIES TRUST
<SERIES>
<NUMBER> 2
<NAME> SAFECO RST BOND PORTFOLIO
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> JAN-01-1995
<PERIOD-END> DEC-31-1995
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 13,541
<INVESTMENTS-AT-VALUE> 14,110
<RECEIVABLES> 114
<ASSETS-OTHER> 41
<OTHER-ITEMS-ASSETS> 0
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<OTHER-ITEMS-LIABILITIES> 8
<TOTAL-LIABILITIES> 8
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 13,920
<SHARES-COMMON-STOCK> 1,261
<SHARES-COMMON-PRIOR> 1,310
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,162
<NET-ASSETS> 14,257
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 936
<OTHER-INCOME> 0
<EXPENSES-NET> 93
<NET-INVESTMENT-INCOME> 843
<REALIZED-GAINS-CURRENT> 116
<APPREC-INCREASE-CURRENT> 1,162
<NET-CHANGE-FROM-OPS> 2,121
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 843
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 266
<NUMBER-OF-SHARES-REDEEMED> (390)
<SHARES-REINVESTED> 75
<NET-CHANGE-IN-ASSETS> 896
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 93
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 121
<AVERAGE-NET-ASSETS> 12,959
<PER-SHARE-NAV-BEGIN> 10.20
<PER-SHARE-NII> 0.71
<PER-SHARE-GAIN-APPREC> 1.11
<PER-SHARE-DIVIDEND> 0.71
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.31
<EXPENSE-RATIO> 0.72
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 795892
<NAME> SAFECO RESOURCE SERIES TRUST
<SERIES>
<NUMBER> 3
<NAME> SAFECO RST MONEY MARKET PORTFOLIO
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> JAN-01-1995
<PERIOD-END> DEC-31-1995
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 9,063
<INVESTMENTS-AT-VALUE> 9,063
<RECEIVABLES> 1
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 9,064
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 345
<TOTAL-LIABILITIES> 345
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 8,719
<SHARES-COMMON-STOCK> 8,719
<SHARES-COMMON-PRIOR> 9,315
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 8,719
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 522
<OTHER-INCOME> 0
<EXPENSES-NET> 54
<NET-INVESTMENT-INCOME> 468
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 468
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 468
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 21,270
<NUMBER-OF-SHARES-REDEEMED> (22,298)
<SHARES-REINVESTED> 432
<NET-CHANGE-IN-ASSETS> (596)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 54
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 76
<AVERAGE-NET-ASSETS> 8,784
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.05
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> 0.05
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.62
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
To the Board of Directors and Shareholder
of SAFECO Resource Series Trust
In planning and performing our audit of the financial
statements of SAFECO Resource Series Trust for the year
ended December 31, 1995, we considered its internal control
structure, including procedures for safeguarding securities,
in order to determine our auditing procedures for the
purpose of expressing our opinion on the financial
statements, and to comply with the requirements of Form N-
SAR, and not to provide assurance on the internal control
structure.
The management of SAFECO Resource Series Trust is
responsible for establishing and maintaining an internal
control structure. In fulfilling this responsibility,
estimates and judgments by management are required to assess
the expected benefits and related costs of internal control
policies and procedures. Two of the objectives of an
internal control structure are to provide management with
reasonable, but not absolute, assurance that assets are
safeguarded against loss from unauthorized use or
disposition and that transactions are executed in accordance
with management's authorization and recorded properly to
permit preparation of financial statements in conformity
with generally accepted accounting principles.
Because of inherent limitations in any internal control
structure, errors or irregularities may occur and may not be
detected. Also, projection of any evaluation of the
structure to future periods is subject to the risk that it
may become inadequate because of changes in conditions or
that the effectiveness of the design and operation may
deteriorate.
Our consideration of the internal control structure would
not necessarily disclose all matters in the internal control
structure that might be material weaknesses under standards
established by the American Institute of Certified Public
Accountants. A material weakness is a condition in which
the design or operation of the specific internal control
structure elements does not reduce to a relatively low level
the risk that errors or irregularities in amounts that would
be material in relation to the financial statements being
audited may occur and not be detected within a timely period
by employees in the normal course of performing their
assigned functions. However, we noted no matters involving
the internal control structure, including procedures for
safeguarding securities, that we consider to be material
weaknesses as defined above as of December 31, 1995.
This report is intended solely for the information and use
of management and the Securities and Exchange Commission.
January 26, 1996
Ernst & Young, LLP
