VANGUARD PREFERRED STOCK FUND
NSAR-A, 1997-06-09
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<PAGE>      PAGE  1
000 A000000 04/30/97
000 C000000 0000081391
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
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     79790
022 D000001     82719
022 A000002 MORGAN STANLEY & CO., INC.
022 B000002 13-2655998
022 C000002     22769
022 D000002     10191
022 A000003 LEHMAN BROTHERS INC.
022 B000003 13-2518466
022 C000003      8930
022 D000003      3511
022 A000004 SALOMON BROTHERS INC.
022 B000004 13-3082694
022 C000004         0
022 D000004     12155
<PAGE>      PAGE  2
022 A000005 SMITH BARNEY INC.
022 B000005 13-1912900
022 C000005      7263
022 D000005      2060
022 A000006 PRUDENTIAL SECURITIES INCORPORATED
022 B000006 22-2347336
022 C000006      2799
022 D000006      4643
022 A000007 PAINEWEBBER INCORPORATED
022 B000007 13-2638166
022 C000007      6512
022 D000007         0
022 A000008 BEAR, STEARNS & CO. INC.
022 B000008 13-3299429
022 C000008      1000
022 D000008      4511
022 A000009 OPPENHEIMER & CO., INC.
022 B000009 13-2798343
022 C000009      5376
022 D000009         0
022 A000010 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
022 B000010 13-2741729
022 C000010         0
022 D000010      2598
023 C000000     142289
023 D000000     128827
028 A010000      4317
028 A020000         0
028 A030000         0
028 A040000      6695
028 B010000     19047
028 B020000      3919
028 B030000         0
028 B040000      8261
028 C010000     10491
028 C020000         0
028 C030000         0
028 C040000     10673
028 D010000      4955
028 D020000         0
028 D030000         0
028 D040000      5422
028 E010000      5437
028 E020000      3593
028 E030000         0
028 E040000      6034
028 F010000      4489
028 F020000         2
028 F030000         0
028 F040000      5109
028 G010000     48736
<PAGE>      PAGE  3
028 G020000      7514
028 G030000         0
028 G040000     42194
028 H000000         0
062 A000000 N
062 B000000   0.0
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062 F000000   0.0
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062 H000000   0.0
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062 J000000   0.0
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071 A000000     62725
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<PAGE>      PAGE  4
072 Z000000     9748
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072BB000000      260
072CC010000     1212
072CC020000        0
072DD010000    10325
072DD020000        0
072EE000000        0
073 A010000   0.3400
073 A020000   0.0000
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073 C000000   0.0000
074 A000000       86
074 B000000     6936
074 C000000        0
074 D000000     4931
074 E000000   289322
074 F000000        0
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074 I000000       25
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074 L000000     2208
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074 N000000   303508
074 O000000     1101
074 P000000      179
074 Q000000        0
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074 T000000   301626
074 U010000    30974
074 U020000        0
074 V010000     9.74
074 V020000     0.00
074 W000000   0.0000
074 X000000    10575
074 Y000000        0
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076  000000     0.00
077 A000000 N
078  000000 N
SIGNATURE   GARY P. SOURA                                
TITLE       MANAGER             
 


<TABLE> <S> <C>

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<CIK> 0000081391
<NAME> VANGUARD PREFERRED STOCK FUND
<MULTIPLIER> 1,000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
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<PERIOD-START>                             NOV-01-1996
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<EQUALIZATION>                                       0
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</TABLE>


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