<PAGE> PAGE 1
000 A000000 06/30/95
000 C000000 0000832566
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 ALGER AMERICAN FUND
001 B000000 811-5550
001 C000000 2128068800
002 A000000 75 MAIDEN LANE
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10038
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 6
007 C010100 1
007 C010200 2
007 C020200 ALGER AMERICAN INCOME & GROWTH PORTFOLIO
007 C030200 N
007 C010300 3
007 C020300 ALGER AMERICAN SMALL CAPITALIZATION PORTFOLIO
007 C030300 N
007 C010400 4
007 C020400 ALGER AMERICAN GROWTH PORTFOLIO
007 C030400 N
007 C010500 5
007 C020500 ALGER AMERICAN BALANCED PORTFOLIO
007 C030500 N
007 C010600 6
007 C020600 ALGER AMERICAN MIDCAP GROWTH
007 C030600 N
007 C010700 7
007 C020700 ALGER AMERICAN LEVERAGED ALLCAP PORTFOLIO
007 C030700 N
007 C010800 8
007 C010900 9
007 C011000 10
020 A000001 FRED ALGER & CO., INCORPORATED
020 B000001 13-2665689
020 C000001 792
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
<PAGE> PAGE 2
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 792
022 A000001 BEAR STEARNS & CO., INC.
022 B000001 13-3299429
022 C000001 18949807
022 D000001 1749
022 A000002 MERRILL LYNCH & CO., INC
022 B000002 13-5674085
022 C000002 472130
022 D000002 97188
022 A000003 GOLDMAN SACHS
022 B000003 13-5108880
022 C000003 28006
022 D000003 30693
022 A000004 LEHMAN BROTHERS
022 B000004 13-2518466
022 C000004 27996
022 D000004 24646
022 A000005 ITT FINANCIAL CORP
022 B000005 43-0815676
022 C000005 31662
022 D000005 0
022 A000006 FIRST BOSTON CORP
022 B000006 13-5659485
022 C000006 15176
022 D000006 12813
022 A000007 DONALDSON LUFKIN & JENRETTE SECURITIES CORP
022 B000007 13-2741729
022 C000007 22713
022 D000007 2792
022 A000008 MONTGOMERY SECURITIES
022 B000008 94-1701676
022 C000008 18827
022 D000008 4549
022 A000009 SMITH BARNEY
022 B000009 13-1912900
022 C000009 14469
022 D000009 7056
022 A000010 WESSELS ARNOLD & HENDERSON INC
022 B000010 41-1554568
022 C000010 11255
022 D000010 5567
023 C000000 19739444
023 D000000 248551
077 A000000 N
024 000200 Y
025 A000201 BEAR STEARNS & CO., INC.
<PAGE> PAGE 3
025 B000201 13-3299429
025 C000201 D
025 D000201 4238
025 A000202 MERRILL LYNCH & CO., INC
025 B000202 13-5674085
025 C000202 E
025 D000202 992
025 A000203 LEHMAN BROTHERS
025 B000203 13-2518466
025 C000203 E
025 D000203 591
025 D000204 0
025 D000205 0
025 D000206 0
025 D000207 0
025 D000208 0
028 A010200 645
028 A020200 0
028 A030200 0
028 A040200 487
028 B010200 561
028 B020200 0
028 B030200 0
028 B040200 247
028 C010200 795
028 C020200 0
028 C030200 0
028 C040200 1109
028 D010200 436
028 D020200 0
028 D030200 0
028 D040200 273
028 E010200 1464
028 E020200 353
028 E030200 0
028 E040200 432
028 F010200 3067
028 F020200 0
028 F030200 0
028 F040200 1368
028 G010200 6968
028 G020200 353
028 G030200 0
028 G040200 3916
028 H000200 0
062 A000200 N
062 B000200 0.0
062 C000200 0.0
062 D000200 0.0
062 E000200 0.0
062 F000200 0.0
<PAGE> PAGE 4
062 G000200 0.0
062 H000200 0.0
062 I000200 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 0.0
062 N000200 0.0
062 O000200 0.0
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
066 A000200 Y
066 B000200 N
066 C000200 N
066 D000200 N
066 E000200 Y
066 F000200 N
066 G000200 N
067 000200 N
068 A000200 N
068 B000200 N
069 000200 N
071 A000200 27859
071 B000200 24435
071 C000200 31681
071 D000200 77
072 A000200 6
072 B000200 49
072 C000200 181
072 D000200 0
072 E000200 0
072 F000200 102
072 G000200 0
072 H000200 0
072 I000200 1
072 J000200 8
072 K000200 0
072 L000200 1
072 M000200 2
072 N000200 0
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 2
072 S000200 5
072 T000200 0
072 U000200 0
072 V000200 0
072 W000200 3
072 X000200 124
<PAGE> PAGE 5
072 Y000200 0
072 Z000200 106
072AA000200 1504
072BB000200 1368
072CC010200 8206
072CC020200 0
072DD010200 353
072DD020200 0
072EE000200 0
073 A010200 0.1550
073 A020200 0.0000
073 B000200 0.0000
073 C000200 0.0000
074 A000200 0
074 B000200 4238
074 C000200 0
074 D000200 0
074 E000200 751
074 F000200 38314
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 298
074 K000200 0
074 L000200 250
074 M000200 1
074 N000200 43852
074 O000200 0
074 P000200 20
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 3196
074 S000200 0
074 T000200 40636
074 U010200 2413
074 U020200 0
074 V010200 16.84
074 V020200 0.00
074 W000200 0.0000
074 X000200 5
074 Y000200 0
075 A000200 0
075 B000200 33026
076 000200 0.00
024 000300 Y
025 A000301 BEAR STEARNS & CO., INC.
025 B000301 13-3299429
025 C000301 D
025 D000301 90169
<PAGE> PAGE 6
025 A000302 LEHMAN BROTHERS
025 B000302 13-2518466
025 C000302 E
025 D000302 2844
025 D000303 0
025 D000304 0
025 D000305 0
025 D000306 0
025 D000307 0
025 D000308 0
028 A010300 18420
028 A020300 0
028 A030300 0
028 A040300 38696
028 B010300 35676
028 B020300 0
028 B030300 0
028 B040300 5504
028 C010300 25761
028 C020300 0
028 C030300 0
028 C040300 16963
028 D010300 25963
028 D020300 0
028 D030300 0
028 D040300 5040
028 E010300 44166
028 E020300 0
028 E030300 0
028 E040300 26391
028 F010300 58233
028 F020300 0
028 F030300 0
028 F040300 17637
028 G010300 208219
028 G020300 0
028 G030300 0
028 G040300 110231
028 H000300 0
062 A000300 N
062 B000300 0.0
062 C000300 0.0
062 D000300 0.0
062 E000300 0.0
062 F000300 0.0
062 G000300 0.0
062 H000300 0.0
062 I000300 0.0
062 J000300 0.0
062 K000300 0.0
062 L000300 0.0
<PAGE> PAGE 7
062 M000300 0.0
062 N000300 0.0
062 O000300 0.0
062 P000300 0.0
062 Q000300 0.0
062 R000300 0.0
066 A000300 Y
066 B000300 Y
066 C000300 N
066 D000300 N
066 E000300 N
066 F000300 N
066 G000300 N
067 000300 N
068 A000300 N
068 B000300 N
069 000300 N
071 A000300 313021
071 B000300 197014
071 C000300 444107
071 D000300 44
072 A000300 6
072 B000300 984
072 C000300 426
072 D000300 0
072 E000300 0
072 F000300 1969
072 G000300 0
072 H000300 0
072 I000300 1
072 J000300 65
072 K000300 0
072 L000300 6
072 M000300 2
072 N000300 24
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 25
072 S000300 5
072 T000300 0
072 U000300 0
072 V000300 0
072 W000300 16
072 X000300 2113
072 Y000300 0
072 Z000300 -703
072AA000300 23893
072BB000300 15255
072CC010300 131369
072CC020300 0
<PAGE> PAGE 8
072DD010300 0
072DD020300 0
072EE000300 0
073 A010300 0.0000
073 A020300 0.0000
073 B000300 0.0000
073 C000300 0.0000
074 A000300 0
074 B000300 75180
074 C000300 14988
074 D000300 0
074 E000300 0
074 F000300 607717
074 G000300 0
074 H000300 0
074 I000300 3
074 J000300 15836
074 K000300 0
074 L000300 1287
074 M000300 15
074 N000300 715026
074 O000300 9460
074 P000300 406
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 70830
074 S000300 0
074 T000300 634330
074 U010300 17608
074 U020300 0
074 V010300 36.02
074 V020300 0.00
074 W000300 0.0000
074 X000300 14
074 Y000300 0
075 A000300 0
075 B000300 470787
076 000300 0.00
024 000400 Y
025 A000401 BEAR STEARNS & CO., INC.
025 B000401 13-3299429
025 C000401 D
025 D000401 21173
025 A000402 MERRILL LYNCH & CO., INC.
025 B000402 13-5674085
025 C000402 E
025 D000402 4725
025 A000403 LEHMAN BROTHERS
025 B000403 13-2518466
<PAGE> PAGE 9
025 C000403 E
025 D000403 2078
025 D000404 0
025 D000405 0
025 D000406 0
025 D000407 0
025 D000408 0
028 A010400 6685
028 A020400 0
028 A030400 0
028 A040400 12178
028 B010400 15788
028 B020400 0
028 B030400 0
028 B040400 8149
028 C010400 8608
028 C020400 0
028 C030400 0
028 C040400 10427
028 D010400 6701
028 D020400 0
028 D030400 0
028 D040400 1037
028 E010400 19154
028 E020400 2184
028 E030400 0
028 E040400 10631
028 F010400 22663
028 F020400 0
028 F030400 0
028 F040400 319
028 G010400 79599
028 G020400 2184
028 G030400 0
028 G040400 42741
028 H000400 0
062 A000400 N
062 B000400 0.0
062 C000400 0.0
062 D000400 0.0
062 E000400 0.0
062 F000400 0.0
062 G000400 0.0
062 H000400 0.0
062 I000400 0.0
062 J000400 0.0
062 K000400 0.0
062 L000400 0.0
062 M000400 0.0
062 N000400 0.0
062 O000400 0.0
<PAGE> PAGE 10
062 P000400 0.0
062 Q000400 0.0
062 R000400 0.0
066 A000400 Y
066 B000400 N
066 C000400 N
066 D000400 Y
066 E000400 N
066 F000400 N
066 G000400 N
067 000400 N
068 A000400 N
068 B000400 N
069 000400 N
071 A000400 124783
071 B000400 83874
071 C000400 162110
071 D000400 51
072 A000400 6
072 B000400 377
072 C000400 624
072 D000400 0
072 E000400 0
072 F000400 637
072 G000400 0
072 H000400 0
072 I000400 1
072 J000400 26
072 K000400 0
072 L000400 1
072 M000400 2
072 N000400 5
072 O000400 0
072 P000400 0
072 Q000400 0
072 R000400 10
072 S000400 5
072 T000400 0
072 U000400 0
072 V000400 0
072 W000400 8
072 X000400 695
072 Y000400 0
072 Z000400 306
072AA000400 8656
072BB000400 4007
072CC010400 35396
072CC020400 0
072DD010400 481
072DD020400 0
072EE000400 1703
<PAGE> PAGE 11
073 A010400 0.0700
073 A020400 0.0000
073 B000400 0.2480
073 C000400 0.0000
074 A000400 0
074 B000400 12186
074 C000400 8986
074 D000400 0
074 E000400 3756
074 F000400 213767
074 G000400 0
074 H000400 0
074 I000400 1
074 J000400 0
074 K000400 0
074 L000400 916
074 M000400 5
074 N000400 239617
074 O000400 2218
074 P000400 128
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 9670
074 S000400 0
074 T000400 227601
074 U010400 7958
074 U020400 0
074 V010400 28.60
074 V020400 0.00
074 W000400 0.0000
074 X000400 17
074 Y000400 0
075 A000400 0
075 B000400 172336
076 000400 0.00
024 000500 Y
025 A000501 BEAR STEARNS & CO., INC.
025 B000501 13-3299429
025 C000501 D
025 D000501 3123
025 A000502 MERRILL LYNCH & CO., INC
025 B000502 13-5674085
025 C000502 E
025 D000502 158
025 A000503 LEHMAN BROTHERS
025 B000503 13-2518466
025 C000503 E
025 D000503 66
025 D000504 0
<PAGE> PAGE 12
025 D000505 0
025 D000506 0
025 D000507 0
025 D000508 0
028 A010500 229
028 A020500 0
028 A030500 0
028 A040500 221
028 B010500 237
028 B020500 0
028 B030500 0
028 B040500 161
028 C010500 465
028 C020500 0
028 C030500 0
028 C040500 318
028 D010500 345
028 D020500 0
028 D030500 0
028 D040500 254
028 E010500 588
028 E020500 218
028 E030500 0
028 E040500 178
028 F010500 414
028 F020500 0
028 F030500 0
028 F040500 458
028 G010500 2278
028 G020500 218
028 G030500 0
028 G040500 1590
028 H000500 0
062 A000500 N
062 B000500 0.0
062 C000500 0.0
062 D000500 0.0
062 E000500 0.0
062 F000500 0.0
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
<PAGE> PAGE 13
066 A000500 Y
066 B000500 N
066 C000500 N
066 D000500 N
066 E000500 N
066 F000500 N
066 G000500 Y
067 000500 Y
068 A000500 N
068 B000500 N
069 000500 N
071 A000500 6151
071 B000500 4504
071 C000500 9734
071 D000500 46
072 A000500 6
072 B000500 192
072 C000500 21
072 D000500 0
072 E000500 0
072 F000500 43
072 G000500 0
072 H000500 0
072 I000500 1
072 J000500 6
072 K000500 0
072 L000500 0
072 M000500 2
072 N000500 0
072 O000500 0
072 P000500 0
072 Q000500 0
072 R000500 2
072 S000500 5
072 T000500 0
072 U000500 0
072 V000500 0
072 W000500 2
072 X000500 61
072 Y000500 0
072 Z000500 152
072AA000500 274
072BB000500 247
072CC010500 1830
072CC020500 0
072DD010500 0
072DD020500 0
072EE000500 0
073 A010500 0.2160
073 A020500 0.0000
073 B000500 0.0000
<PAGE> PAGE 14
073 C000500 0.0000
074 A000500 0
074 B000500 835
074 C000500 2288
074 D000500 3378
074 E000500 119
074 F000500 6945
074 G000500 0
074 H000500 0
074 I000500 0
074 J000500 0
074 K000500 0
074 L000500 65
074 M000500 1
074 N000500 13631
074 O000500 69
074 P000500 7
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
074 R040500 465
074 S000500 0
074 T000500 13090
074 U010500 1040
074 U020500 0
074 V010500 12.59
074 V020500 0.00
074 W000500 0.0000
074 X000500 5
074 Y000500 0
075 A000500 0
075 B000500 11492
076 000500 0.00
024 000600 Y
025 A000601 BEAR STEARNS & CO., INC
025 B000601 13-3299429
025 C000601 D
025 D000601 3963
025 A000602 LEHMAN BROTHERS
025 B000602 13-2518466
025 C000602 E
025 D000602 875
025 D000603 0
025 D000604 0
025 D000605 0
025 D000606 0
025 D000607 0
025 D000608 0
028 A010600 1503
028 A020600 0
<PAGE> PAGE 15
028 A030600 0
028 A040600 3176
028 B010600 5767
028 B020600 0
028 B030600 0
028 B040600 1061
028 C010600 4509
028 C020600 0
028 C030600 0
028 C040600 1461
028 D010600 4103
028 D020600 0
028 D030600 0
028 D040600 262
028 E010600 4767
028 E020600 11
028 E030600 0
028 E040600 699
028 F010600 9654
028 F020600 0
028 F030600 0
028 F040600 6542
028 G010600 30303
028 G020600 11
028 G030600 0
028 G040600 13201
028 H000600 0
055 A000600 Y
055 B000600 N
056 000600 Y
057 000600 N
062 A000600 N
062 B000600 0.0
062 C000600 0.0
062 D000600 0.0
062 E000600 0.0
062 F000600 0.0
062 G000600 0.0
062 H000600 0.0
062 I000600 0.0
062 J000600 0.0
062 K000600 0.0
062 L000600 0.0
062 M000600 0.0
062 N000600 0.0
062 O000600 0.0
062 P000600 0.0
062 Q000600 0.0
062 R000600 0.0
066 A000600 Y
066 B000600 N
<PAGE> PAGE 16
066 C000600 Y
066 D000600 N
066 E000600 N
066 F000600 N
066 G000600 N
067 000600 N
068 A000600 N
068 B000600 N
069 000600 N
071 A000600 58267
071 B000600 38796
071 C000600 71063
071 D000600 55
072 A000600 6
072 B000600 185
072 C000600 124
072 D000600 0
072 E000600 0
072 F000600 295
072 G000600 0
072 H000600 0
072 I000600 1
072 J000600 15
072 K000600 0
072 L000600 0
072 M000600 2
072 N000600 0
072 O000600 0
072 P000600 0
072 Q000600 0
072 R000600 5
072 S000600 6
072 T000600 0
072 U000600 0
072 V000600 0
072 W000600 6
072 X000600 330
072 Y000600 0
072 Z000600 -21
072AA000600 4846
072BB000600 2995
072CC010600 16819
072CC020600 0
072DD010600 11
072DD020600 0
072EE000600 0
073 A010600 0.0020
073 A020600 0.0000
073 B000600 0.0000
073 C000600 0.0000
074 A000600 0
<PAGE> PAGE 17
074 B000600 3963
074 C000600 2998
074 D000600 0
074 E000600 1622
074 F000600 92025
074 G000600 0
074 H000600 0
074 I000600 0
074 J000600 0
074 K000600 0
074 L000600 328
074 M000600 3
074 N000600 100939
074 O000600 0
074 P000600 59
074 Q000600 0
074 R010600 0
074 R020600 0
074 R030600 0
074 R040600 2952
074 S000600 0
074 T000600 97928
074 U010600 5721
074 U020600 0
074 V010600 17.12
074 V020600 0.00
074 W000600 0.0000
074 X000600 11
074 Y000600 0
075 A000600 0
075 B000600 75490
076 000600 0.00
024 000700 Y
025 A000701 BEAR STEARNS & CO., INC
025 B000701 13-3299429
025 C000701 D
025 D000701 42
025 A000702 LEHMAN BROTHERS
025 B000702 13-2518466
025 C000702 E
025 D000702 2
028 A010700 245
028 A020700 0
028 A030700 0
028 A040700 0
028 B010700 0
028 B020700 0
028 B030700 0
028 B040700 0
028 C010700 0
028 C020700 0
<PAGE> PAGE 18
028 C030700 0
028 C040700 0
028 D010700 0
028 D020700 0
028 D030700 0
028 D040700 0
028 E010700 2
028 E020700 0
028 E030700 0
028 E040700 0
028 F010700 26
028 F020700 0
028 F030700 0
028 F040700 0
028 G010700 273
028 G020700 0
028 G030700 0
028 G040700 0
028 H000700 0
062 A000700 N
062 B000700 0.0
062 C000700 0.0
062 D000700 0.0
062 E000700 0.0
062 F000700 0.0
062 G000700 0.0
062 H000700 0.0
062 I000700 0.0
062 J000700 0.0
062 K000700 0.0
062 L000700 0.0
062 M000700 0.0
062 N000700 0.0
062 O000700 0.0
062 P000700 0.0
062 Q000700 0.0
062 R000700 0.0
066 A000700 Y
066 B000700 Y
066 C000700 N
066 D000700 N
066 E000700 N
066 F000700 N
066 G000700 N
067 000700 N
068 A000700 N
068 B000700 N
069 000700 N
070 A010700 Y
070 A020700 Y
070 B010700 Y
<PAGE> PAGE 19
070 B020700 N
070 C010700 N
070 C020700 N
070 D010700 Y
070 D020700 N
070 E010700 N
070 E020700 N
070 F010700 Y
070 F020700 N
070 G010700 N
070 G020700 N
070 H010700 Y
070 H020700 N
070 I010700 N
070 I020700 N
070 J010700 Y
070 J020700 N
070 K010700 N
070 K020700 N
070 L010700 Y
070 L020700 N
070 M010700 N
070 M020700 N
070 N010700 Y
070 N020700 Y
070 O010700 Y
070 O020700 Y
070 P010700 Y
070 P020700 N
070 Q010700 N
070 Q020700 N
070 R010700 Y
070 R020700 N
071 A000700 625
071 B000700 351
071 C000700 285
071 D000700 123
072 A000700 6
072 B000700 0
072 C000700 1
072 D000700 0
072 E000700 0
072 F000700 1
072 G000700 0
072 H000700 0
072 I000700 1
072 J000700 3
072 K000700 0
072 L000700 0
072 M000700 2
072 N000700 0
<PAGE> PAGE 20
072 O000700 1
072 P000700 1
072 Q000700 0
072 R000700 0
072 S000700 1
072 T000700 0
072 U000700 0
072 V000700 0
072 W000700 1
072 X000700 11
072 Y000700 9
072 Z000700 -1
072AA000700 73
072BB000700 7
072CC010700 47
072CC020700 0
072DD010700 0
072DD020700 0
072EE000700 0
073 A010700 0.0000
073 A020700 0.0000
073 B000700 0.0000
073 C000700 0.0000
074 A000700 0
074 B000700 42
074 C000700 0
074 D000700 0
074 E000700 12
074 F000700 373
074 G000700 0
074 H000700 0
074 I000700 3
074 J000700 11
074 K000700 0
074 L000700 0
074 M000700 3
074 N000700 444
074 O000700 34
074 P000700 0
074 Q000700 0
074 R010700 0
074 R020700 0
074 R030700 0
074 R040700 24
074 S000700 0
074 T000700 386
074 U010700 27
074 U020700 0
074 V010700 14.51
074 V020700 0.00
074 W000700 0.0000
<PAGE> PAGE 21
074 X000700 5
074 Y000700 0
075 A000700 0
075 B000700 293
076 000700 0.00
SIGNATURE GREGORY S. DUCH
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 5
<NAME> ALGER AMERICAN BALANCED PORTFOLIO
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 11581203
<INVESTMENTS-AT-VALUE> 13565030
<RECEIVABLES> 64890
<ASSETS-OTHER> 612
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 13630532
<PAYABLE-FOR-SECURITIES> 69295
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 470777
<TOTAL-LIABILITIES> 540072
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 11185222
<SHARES-COMMON-STOCK> 1040001
<SHARES-COMMON-PRIOR> 962043
<ACCUMULATED-NII-CURRENT> 151330
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 229919
<ACCUM-APPREC-OR-DEPREC> 1983827
<NET-ASSETS> 13090460
<DIVIDEND-INCOME> 20711
<INTEREST-INCOME> 192025
<OTHER-INCOME> 0
<EXPENSES-NET> 60415
<NET-INVESTMENT-INCOME> 152321
<REALIZED-GAINS-CURRENT> 26901
<APPREC-INCREASE-CURRENT> 1829657
<NET-CHANGE-FROM-OPS> 2008879
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 217622
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 197253
<NUMBER-OF-SHARES-REDEEMED> 137863
<SHARES-REINVESTED> 18568
<NET-CHANGE-IN-ASSETS> 2695973
<ACCUMULATED-NII-PRIOR> 216631
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 256820
<GROSS-ADVISORY-FEES> 42553
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 60415
<AVERAGE-NET-ASSETS> 11492145
<PER-SHARE-NAV-BEGIN> 10.80
<PER-SHARE-NII> .14
<PER-SHARE-GAIN-APPREC> 1.87
<PER-SHARE-DIVIDEND> .22
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.59
<EXPENSE-RATIO> 1.06
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 4
<NAME> ALGER AMERICAN GROWTH
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 192574996
<INVESTMENTS-AT-VALUE> 238696449
<RECEIVABLES> 915203
<ASSETS-OTHER> 5228
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 239616880
<PAYABLE-FOR-SECURITIES> 2218465
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 9797894
<TOTAL-LIABILITIES> 12016359
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 177534791
<SHARES-COMMON-STOCK> 7958304
<SHARES-COMMON-PRIOR> 6501654
<ACCUMULATED-NII-CURRENT> 307681
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3636596
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 46121453
<NET-ASSETS> 227600521
<DIVIDEND-INCOME> 623489
<INTEREST-INCOME> 377333
<OTHER-INCOME> 0
<EXPENSES-NET> 694636
<NET-INVESTMENT-INCOME> 306186
<REALIZED-GAINS-CURRENT> 4649629
<APPREC-INCREASE-CURRENT> 35396159
<NET-CHANGE-FROM-OPS> 40351974
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 480697
<DISTRIBUTIONS-OF-GAINS> 1703042
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3118860
<NUMBER-OF-SHARES-REDEEMED> 1746329
<SHARES-REINVESTED> 84119
<NET-CHANGE-IN-ASSETS> 77210045
<ACCUMULATED-NII-PRIOR> 482192
<ACCUMULATED-GAINS-PRIOR> 690009
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 636810
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 694636
<AVERAGE-NET-ASSETS> 172336045
<PER-SHARE-NAV-BEGIN> 23.13
<PER-SHARE-NII> .03
<PER-SHARE-GAIN-APPREC> 5.76
<PER-SHARE-DIVIDEND> .07
<PER-SHARE-DISTRIBUTIONS> .25
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 28.60
<EXPENSE-RATIO> .82
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 2
<NAME> ALGER AMERICAN INCOME & GROWTH
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 34410240
<INVESTMENTS-AT-VALUE> 43302960
<RECEIVABLES> 547364
<ASSETS-OTHER> 1322
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 43851646
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 3216048
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 33924592
<SHARES-COMMON-STOCK> 2413098
<SHARES-COMMON-PRIOR> 2190885
<ACCUMULATED-NII-CURRENT> 116310
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 2298024
<ACCUM-APPREC-OR-DEPREC> 8892720
<NET-ASSETS> 40635598
<DIVIDEND-INCOME> 180857
<INTEREST-INCOME> 48602
<OTHER-INCOME> 0
<EXPENSES-NET> 123955
<NET-INVESTMENT-INCOME> 105504
<REALIZED-GAINS-CURRENT> 136235
<APPREC-INCREASE-CURRENT> 8206672
<NET-CHANGE-FROM-OPS> 8448411
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 352788
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 436325
<NUMBER-OF-SHARES-REDEEMED> 264475
<SHARES-REINVESTED> 23363
<NET-CHANGE-IN-ASSETS> 11500699
<ACCUMULATED-NII-PRIOR> 363594
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 2434259
<GROSS-ADVISORY-FEES> 102342
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 123955
<AVERAGE-NET-ASSETS> 33026347
<PER-SHARE-NAV-BEGIN> 13.30
<PER-SHARE-NII> .04
<PER-SHARE-GAIN-APPREC> 3.66
<PER-SHARE-DIVIDEND> .16
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 16.84
<EXPENSE-RATIO> .76
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 7
<NAME> ALGER AMERICAN LEVERAGED ALLCAP PORTFOLIO
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 382711
<INVESTMENTS-AT-VALUE> 429953
<RECEIVABLES> 14161
<ASSETS-OTHER> 3
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 444117
<PAYABLE-FOR-SECURITIES> 34401
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 23985
<TOTAL-LIABILITIES> 58386
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 273414
<SHARES-COMMON-STOCK> 26591
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 1119
<ACCUMULATED-NET-GAINS> 66194
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 47242
<NET-ASSETS> 385731
<DIVIDEND-INCOME> 740
<INTEREST-INCOME> 531
<OTHER-INCOME> 0
<EXPENSES-NET> 2390
<NET-INVESTMENT-INCOME> (1119)
<REALIZED-GAINS-CURRENT> 66194
<APPREC-INCREASE-CURRENT> 47242
<NET-CHANGE-FROM-OPS> 112317
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 26591
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 385731
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1047
<INTEREST-EXPENSE> 543
<GROSS-EXPENSE> 10798
<AVERAGE-NET-ASSETS> 293380
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> (.04)
<PER-SHARE-GAIN-APPREC> 4.55
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.51
<EXPENSE-RATIO> 1.94
<AVG-DEBT-OUTSTANDING> 13748
<AVG-DEBT-PER-SHARE> .56
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 6
<NAME> ALGER AMERICAN MIDCAP GROWTH PORTFOLIO
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 78833475
<INVESTMENTS-AT-VALUE> 100607121
<RECEIVABLES> 328974
<ASSETS-OTHER> 2788
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 100938883
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3010514
<TOTAL-LIABILITIES> 3010514
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 76663343
<SHARES-COMMON-STOCK> 5720618
<SHARES-COMMON-PRIOR> 4620425
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 50235
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 458385
<ACCUM-APPREC-OR-DEPREC> 21773646
<NET-ASSETS> 97928369
<DIVIDEND-INCOME> 124259
<INTEREST-INCOME> 185061
<OTHER-INCOME> 0
<EXPENSES-NET> 330746
<NET-INVESTMENT-INCOME> 21426
<REALIZED-GAINS-CURRENT> 1851719
<APPREC-INCREASE-CURRENT> 16819019
<NET-CHANGE-FROM-OPS> 18649312
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 10688
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1990573
<NUMBER-OF-SHARES-REDEEMED> 891086
<SHARES-REINVESTED> 706
<NET-CHANGE-IN-ASSETS> 35750733
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 18141
<OVERDIST-NET-GAINS-PRIOR> 2310104
<GROSS-ADVISORY-FEES> 295487
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 330746
<AVERAGE-NET-ASSETS> 71062577
<PER-SHARE-NAV-BEGIN> 13.46
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 3.66
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 17.12
<EXPENSE-RATIO> .90
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 3
<NAME> ALGER AMERICAN SMALL CAPITALIZATION
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 521084116
<INVESTMENTS-AT-VALUE> 697889237
<RECEIVABLES> 17122395
<ASSETS-OTHER> 14533
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 715026165
<PAYABLE-FOR-SECURITIES> 9459565
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 71237000
<TOTAL-LIABILITIES> 80696565
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 467762611
<SHARES-COMMON-STOCK> 17608336
<SHARES-COMMON-PRIOR> 14537803
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 1914774
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 8323358
<ACCUM-APPREC-OR-DEPREC> 176805121
<NET-ASSETS> 634329600
<DIVIDEND-INCOME> 426355
<INTEREST-INCOME> 983647
<OTHER-INCOME> 0
<EXPENSES-NET> 2112565
<NET-INVESTMENT-INCOME> (702563)
<REALIZED-GAINS-CURRENT> 8637960
<APPREC-INCREASE-CURRENT> 131368939
<NET-CHANGE-FROM-OPS> 139304336
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6779151
<NUMBER-OF-SHARES-REDEEMED> 3708618
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 237292502
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 1212211
<OVERDIST-NET-GAINS-PRIOR> 16961318
<GROSS-ADVISORY-FEES> 1989869
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2112565
<AVERAGE-NET-ASSETS> 470786943
<PER-SHARE-NAV-BEGIN> 27.31
<PER-SHARE-NII> .03
<PER-SHARE-GAIN-APPREC> 8.74
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 36.02
<EXPENSE-RATIO> .91
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
