VANGUARD PREFERRED STOCK FUND
NSAR-B, 1995-12-21
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<PAGE>      PAGE  1
000 B000000 10/31/95
000 C000000 081391
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 PREFERRED STOCK FUND
001 B000000 811-2601
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 N
007 B000000  0
018  000000 Y
019 A000000 Y
019 B000000   89
019 C000000 VANGUARDGR
020 A000001 ASIEL & CO.
020 B000001 13-4933080
020 C000001      1
020 C000002      0
020 C000003      0
020 C000004      0
020 C000005      0
020 C000006      0
020 C000007      0
020 C000008      0
020 C000009      0
020 C000010      0
021  000000        1
022 A000001 THE VANGUARD GROUP, INC./POOLED CASH ACCT.
022 B000001 23-1945930
022 C000001   1359661
022 D000001         0
022 A000002 MERRILL LYNCH PIERCE FENNER & SMITH
022 B000002 13-5674085
022 C000002     23183
022 D000002      8211
022 A000003 ROBER W. BAIRD & CO., INC.
022 B000003 39-6037917
022 C000003         0
022 D000003     15471
<PAGE>      PAGE  2
022 A000004 SMITH BARNEY INC.
022 B000004 13-1912900
022 C000004      8105
022 D000004      6226
022 A000005 OPPENHEIMER & CO.
022 B000005 13-2798343
022 C000005      5243
022 D000005      8777
022 A000006 PRUDENTIAL SECURITIES INCORPORATED
022 B000006 22-2347336
022 C000006        85
022 D000006     13534
022 A000007 MORGAN STANLEY & CO.
022 B000007 13-2655998
022 C000007      2213
022 D000007      7573
022 A000008 BEAR STEARNS & CO.
022 B000008 13-3299429
022 C000008      5479
022 D000008      4164
022 A000009 GOLDMAN SACHS & CO.
022 B000009 13-5108880
022 C000009      5837
022 D000009      3766
022 A000010 SALOMON BROTHERS
022 B000010 13-3082694
022 C000010         0
022 D000010      6469
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<PAGE>      PAGE  5
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078  000000 N
080 A000000 ICI MUTUAL INSURANCE COMPANY
080 C000000   150000
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SIGNATURE   GARY P. SOURA                                
TITLE       SR. MANAGER         
 


<TABLE> <S> <C>

<ARTICLE> 6
<RESTATED> 
<CIK> 0000081391
<NAME> VANGUARD PREFERRED STOCK FUND
<MULTIPLIER> 1,000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          OCT-31-1995
<PERIOD-START>                             NOV-01-1994
<PERIOD-END>                               OCT-31-1995
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                           298626
<INVESTMENTS-AT-VALUE>                          305312
<RECEIVABLES>                                     3947
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<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  309297
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                         1293
<TOTAL-LIABILITIES>                               1293
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        303050
<SHARES-COMMON-STOCK>                            32064
<SHARES-COMMON-PRIOR>                            36539
<ACCUMULATED-NII-CURRENT>                         3898
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                         (5630)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                          6686
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<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
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<PER-SHARE-NAV-BEGIN>                             8.35
<PER-SHARE-NII>                                  0.660
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</TABLE>


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