PHILLIPS CAPITAL INVESTMENTS INC
NSAR-A, 1996-08-28
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001 A000000 PHILLIPS CAPITAL INVESTMENTS, INC.
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002 A000000 15400 KNOLL TRAIL, SUITE 100
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SIGNATURE   RICHARD SPIRES                               
TITLE       VICE PRESIDENT      
 


<TABLE> <S> <C>

<ARTICLE>                                                                     6
<CIK>                                                                0000826659
<NAME>                                        PHILLIPS CAPITAL INVESTMENTS, INC.
       
<S>                                          <C>
<PERIOD-TYPE>                                                        6-MOS
<FISCAL-YEAR-END>                                                    DEC-31-1996
<PERIOD-END>                                                         JUN-30-1996
<INVESTMENTS-AT-COST>                                                 3,340,471
<INVESTMENTS-AT-VALUE>                                                4,459,726
<RECEIVABLES>                                                            22,372
<ASSETS-OTHER>                                                          275,866
<OTHER-ITEMS-ASSETS>                                                      2,579
<TOTAL-ASSETS>                                                        4,760,543
<PAYABLE-FOR-SECURITIES>                                                      0
<SENIOR-LONG-TERM-DEBT>                                                       0
<OTHER-ITEMS-LIABILITIES>                                                 6,131
<TOTAL-LIABILITIES>                                                       6,131
<SENIOR-EQUITY>                                                               0
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<SHARES-COMMON-STOCK>                                                   305,603
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<OVERDISTRIBUTION-GAINS>                                                      0
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<DIVIDEND-INCOME>                                                        18,699
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<OTHER-INCOME>                                                                0
<EXPENSES-NET>                                                           26,822
<NET-INVESTMENT-INCOME>                                                  42,467
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<APPREC-INCREASE-CURRENT>                                             (134,672)
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<EQUALIZATION>                                                                0
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<DISTRIBUTIONS-OF-GAINS>                                                      0
<DISTRIBUTIONS-OTHER>                                                         0
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<RETURNS-OF-CAPITAL>                                                          0
<PER-SHARE-NAV-END>                                                       15.56
<EXPENSE-RATIO>                                                            1.17
<AVG-DEBT-OUTSTANDING>                                                        0
<AVG-DEBT-PER-SHARE>                                                          0
        

</TABLE>


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