<PAGE> PAGE 1
000 B000000 12/31/94
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 1157
020 A000002 LAZARD FRERES & CO
020 B000002 13-5545100
020 C000002 1
020 C000003 0
<PAGE> PAGE 2
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 1158
022 A000001 BEAR STEARNS & CO., INC.
022 B000001 13-3299429
022 C000001 18954198
022 D000001 0
022 A000002 MERRILL LYNCH & CO., INC
022 B000002 13-5674085
022 C000002 1725356
022 D000002 93704
022 A000003 ITT FINACIAL CORP
022 B000003 43-0815676
022 C000003 79178
022 D000003 0
022 A000004 CANTOR FITZGERALD & CO
022 B000004 95-3403910
022 C000004 23496
022 D000004 22563
022 A000005 GOLDMAN SACHS
022 B000005 13-5108880
022 C000005 22850
022 D000005 23141
022 A000006 TROSTER SINGER CORP
022 B000006 13-5515160
022 C000006 17829
022 D000006 18381
022 A000007 WESSELS & ARNOLD & HENDERSON
022 B000007 41-1554568
022 C000007 16981
022 D000007 17880
022 A000008 DONALDSON LUFKIN & JENRETTE SECURITIES CORP
022 B000008 13-2741729
022 C000008 21271
022 D000008 12878
022 A000009 FURMAN SELZ CORP
022 B000009 13-2753731
022 C000009 20900
022 D000009 11500
022 A000010 MONTGOMERY SECURITIES
022 B000010 94-1701676
022 C000010 16203
022 D000010 9660
023 C000000 21210157
023 D000000 383967
026 A000000 N
<PAGE> PAGE 3
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 Y
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
080 A00AA00 VIGILANT INSURANCE COMPANIES
080 C00AA00 5725
081 A00AA00 Y
081 B00AA00 18
082 A00AA00 N
082 B00AA00 0
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
024 000200 Y
025 A000201 BEAR STEARNS & CO., INC.
025 B000201 13-3299429
025 C000201 D
025 D000201 2582
025 D000202 0
025 D000203 0
025 D000204 0
025 D000205 0
025 D000206 0
025 D000207 0
<PAGE> PAGE 4
025 D000208 0
028 A010200 325
028 A020200 0
028 A030200 0
028 A040200 372
028 B010200 881
028 B020200 0
028 B030200 0
028 B040200 339
028 C010200 459
028 C020200 0
028 C030200 0
028 C040200 650
028 D010200 479
028 D020200 0
028 D030200 0
028 D040200 251
028 E010200 385
028 E020200 0
028 E030200 0
028 E040200 1127
028 F010200 874
028 F020200 0
028 F030200 0
028 F040200 624
028 G010200 3403
028 G020200 0
028 G030200 0
028 G040200 3363
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
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
<PAGE> PAGE 5
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 49972
071 B000200 48247
071 C000200 27109
071 D000200 178
072 A000200 12
072 B000200 140
072 C000200 450
072 D000200 0
072 E000200 0
072 F000200 187
072 G000200 0
072 H000200 0
072 I000200 7
072 J000200 15
072 K000200 0
072 L000200 1
072 M000200 5
072 N000200 0
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 6
072 S000200 1
072 T000200 0
072 U000200 0
072 V000200 0
072 W000200 4
072 X000200 226
072 Y000200 0
072 Z000200 364
072AA000200 2081
072BB000200 4169
072CC010200 0
072CC020200 1210
072DD010200 297
072DD020200 0
072EE000200 1141
073 A010200 0.1470
073 A020200 0.0000
073 B000200 0.5650
073 C000200 0.0000
074 A000200 0
074 B000200 2582
<PAGE> PAGE 6
074 C000200 3397
074 D000200 0
074 E000200 675
074 F000200 26624
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 365
074 K000200 0
074 L000200 85
074 M000200 2
074 N000200 33730
074 O000200 0
074 P000200 15
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 4580
074 S000200 0
074 T000200 29135
074 U010200 2191
074 U020200 0
074 V010200 13.30
074 V020200 0.00
074 W000200 0.0000
074 X000200 4
074 Y000200 0
075 A000200 0
075 B000200 30196
076 000200 0.00
024 000300 Y
025 A000301 BEAR STEARNS & CO., INC.
025 B000301 13-3299429
025 C000301 D
025 D000301 83915
025 D000302 0
025 D000303 0
025 D000304 0
025 D000305 0
025 D000306 0
025 D000307 0
025 D000308 0
028 A010300 17836
028 A020300 0
028 A030300 0
028 A040300 4049
028 B010300 28067
028 B020300 0
028 B030300 0
028 B040300 6136
<PAGE> PAGE 7
028 C010300 16446
028 C020300 0
028 C030300 0
028 C040300 20584
028 D010300 27681
028 D020300 0
028 D030300 0
028 D040300 12827
028 E010300 21295
028 E020300 0
028 E030300 0
028 E040300 22857
028 F010300 70010
028 F020300 0
028 F030300 0
028 F040300 10343
028 G010300 181335
028 G020300 0
028 G030300 0
028 G040300 76796
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
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 447430
<PAGE> PAGE 8
071 B000300 291500
071 C000300 247800
071 D000300 118
072 A000300 12
072 B000300 1985
072 C000300 395
072 D000300 0
072 E000300 0
072 F000300 2367
072 G000300 0
072 H000300 0
072 I000300 32
072 J000300 112
072 K000300 0
072 L000300 21
072 M000300 5
072 N000300 58
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 46
072 S000300 1
072 T000300 0
072 U000300 0
072 V000300 0
072 W000300 19
072 X000300 2661
072 Y000300 0
072 Z000300 -281
072AA000300 39163
072BB000300 56727
072CC010300 14069
072CC020300 0
072DD010300 0
072DD020300 0
072EE000300 18317
073 A010300 0.0000
073 A020300 0.0000
073 B000300 2.0910
073 C000300 0.0000
074 A000300 0
074 B000300 83915
074 C000300 67410
074 D000300 0
074 E000300 0
074 F000300 351719
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 1900
074 K000300 0
<PAGE> PAGE 9
074 L000300 764
074 M000300 13
074 N000300 505721
074 O000300 23775
074 P000300 0
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 84909
074 S000300 0
074 T000300 397037
074 U010300 14537803
074 U020300 0
074 V010300 27.31
074 V020300 0.00
074 W000300 0.0000
074 X000300 13
074 Y000300 0
075 A000300 0
075 B000300 281822
076 000300 0.00
024 000400 Y
025 A000401 BEAR STEARNS & CO., INC.
025 B000401 13-3299429
025 C000401 D
025 D000401 13731
025 A000402 MERRILL LYNCH & CO., INC.
025 B000402 13-5674085
025 C000402 E
025 D000402 2503
025 D000403 0
025 D000404 0
025 D000405 0
025 D000406 0
025 D000407 0
025 D000408 0
028 A010400 5128
028 A020400 0
028 A030400 0
028 A040400 324
028 B010400 8797
028 B020400 0
028 B030400 0
028 B040400 625
028 C010400 7636
028 C020400 0
028 C030400 0
028 C040400 7009
028 D010400 6436
028 D020400 0
<PAGE> PAGE 10
028 D030400 0
028 D040400 4516
028 E010400 7196
028 E020400 0
028 E030400 0
028 E040400 5672
028 F010400 30670
028 F020400 0
028 F030400 0
028 F040400 2110
028 G010400 65863
028 G020400 0
028 G030400 0
028 G040400 20256
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
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 173870
071 B000400 100944
071 C000400 90321
071 D000400 112
072 A000400 12
072 B000400 606
072 C000400 747
<PAGE> PAGE 11
072 D000400 0
072 E000400 0
072 F000400 757
072 G000400 0
072 H000400 0
072 I000400 14
072 J000400 35
072 K000400 0
072 L000400 8
072 M000400 5
072 N000400 25
072 O000400 0
072 P000400 0
072 Q000400 0
072 R000400 19
072 S000400 1
072 T000400 0
072 U000400 0
072 V000400 0
072 W000400 6
072 X000400 870
072 Y000400 0
072 Z000400 483
072AA000400 9567
072BB000400 8861
072CC010400 1040
072CC020400 0
072DD010400 123
072DD020400 0
072EE000400 6409
073 A010400 0.0330
073 A020400 0.0000
073 B000400 1.7260
073 C000400 0.0000
074 A000400 0
074 B000400 13731
074 C000400 18985
074 D000400 0
074 E000400 2625
074 F000400 133946
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 0
074 K000400 0
074 L000400 425
074 M000400 6
074 N000400 169718
074 O000400 10156
074 P000400 0
074 Q000400 0
<PAGE> PAGE 12
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 9172
074 S000400 0
074 T000400 150390
074 U010400 6502
074 U020400 0
074 V010400 23.13
074 V020400 0.00
074 W000400 0.0000
074 X000400 7
074 Y000400 0
075 A000400 0
075 B000400 102665
076 000400 0.00
024 000500 Y
025 A000501 BEAR STEARNS & CO., INC.
025 B000501 13-3299429
025 C000501 D
025 D000501 862
025 A000502 MERRILL LYNCH & CO., INC
025 B000502 13-5674085
025 C000502 E
025 D000502 72
025 D000503 0
025 D000504 0
025 D000505 0
025 D000506 0
025 D000507 0
025 D000508 0
028 A010500 477
028 A020500 0
028 A030500 0
028 A040500 149
028 B010500 210
028 B020500 0
028 B030500 0
028 B040500 125
028 C010500 200
028 C020500 0
028 C030500 0
028 C040500 224
028 D010500 187
028 D020500 0
028 D030500 0
028 D040500 109
028 E010500 339
028 E020500 0
028 E030500 0
028 E040500 105
<PAGE> PAGE 13
028 F010500 140
028 F020500 0
028 F030500 0
028 F040500 123
028 G010500 1553
028 G020500 0
028 G030500 0
028 G040500 835
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
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 6808
071 B000500 5451
071 C000500 6917
071 D000500 79
072 A000500 12
072 B000500 283
072 C000500 37
072 D000500 0
072 E000500 0
072 F000500 71
072 G000500 0
072 H000500 0
072 I000500 4
<PAGE> PAGE 14
072 J000500 13
072 K000500 0
072 L000500 0
072 M000500 5
072 N000500 1
072 O000500 0
072 P000500 0
072 Q000500 0
072 R000500 4
072 S000500 1
072 T000500 0
072 U000500 0
072 V000500 0
072 W000500 3
072 X000500 102
072 Y000500 0
072 Z000500 218
072AA000500 387
072BB000500 644
072CC010500 0
072CC020500 332
072DD010500 110
072DD020500 0
072EE000500 124
073 A010500 0.1300
073 A020500 0.0000
073 B000500 0.1470
073 C000500 0.0000
074 A000500 0
074 B000500 862
074 C000500 3391
074 D000500 2166
074 E000500 0
074 F000500 4777
074 G000500 0
074 H000500 0
074 I000500 0
074 J000500 209
074 K000500 0
074 L000500 51
074 M000500 1
074 N000500 11457
074 O000500 248
074 P000500 0
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
074 R040500 815
074 S000500 0
074 T000500 10394
<PAGE> PAGE 15
074 U010500 962
074 U020500 0
074 V010500 10.80
074 V020500 0.00
074 W000500 0.0000
074 X000500 5
074 Y000500 0
075 A000500 0
075 B000500 9448
076 000500 0.00
024 000600 Y
025 A000601 BEAR STEARNS & CO., INC
025 B000601 13-3299429
025 C000601 D
025 D000601 9505
025 D000602 0
025 D000603 0
025 D000604 0
025 D000605 0
025 D000606 0
025 D000607 0
025 D000608 0
028 A010600 1776
028 A020600 0
028 A030600 0
028 A040600 315
028 B010600 2353
028 B020600 0
028 B030600 0
028 B040600 735
028 C010600 1587
028 C020600 0
028 C030600 0
028 C040600 481
028 D010600 3962
028 D020600 0
028 D030600 0
028 D040600 1738
028 E010600 4086
028 E020600 0
028 E030600 0
028 E040600 332
028 F010600 8866
028 F020600 0
028 F030600 0
028 F040600 257
028 G010600 22630
028 G020600 0
028 G030600 0
028 G040600 3858
028 H000600 0
<PAGE> PAGE 16
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
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 64078
071 B000600 28544
071 C000600 33997
071 D000600 84
072 A000600 12
072 B000600 88
072 C000600 301
072 D000600 0
072 E000600 0
072 F000600 312
072 G000600 0
072 H000600 0
072 I000600 6
072 J000600 21
072 K000600 0
072 L000600 5
072 M000600 5
072 N000600 14
072 O000600 0
072 P000600 0
072 Q000600 0
072 R000600 12
<PAGE> PAGE 17
072 S000600 1
072 T000600 0
072 U000600 0
072 V000600 0
072 W000600 1
072 X000600 377
072 Y000600 0
072 Z000600 12
072AA000600 2280
072BB000600 4599
072CC010600 5843
072CC020600 0
072DD010600 0
072DD020600 0
072EE000600 122
073 A010600 0.0000
073 A020600 0.0000
073 B000600 0.0450
073 C000600 0.0000
074 A000600 0
074 B000600 9505
074 C000600 10291
074 D000600 0
074 E000600 1095
074 F000600 54409
074 G000600 0
074 H000600 0
074 I000600 0
074 J000600 651
074 K000600 0
074 L000600 327
074 M000600 3
074 N000600 76281
074 O000600 5384
074 P000600 0
074 Q000600 0
074 R010600 0
074 R020600 0
074 R030600 0
074 R040600 8719
074 S000600 0
074 T000600 62178
074 U010600 4620
074 U020600 0
074 V010600 13.46
074 V020600 0.00
074 W000600 0.0000
074 X000600 6
074 Y000600 0
075 A000600 0
075 B000600 39932
<PAGE> PAGE 18
076 000600 0.00
024 000700 N
028 A010700 0
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
028 C030700 0
028 C040700 0
028 D010700 0
028 D020700 0
028 D030700 0
028 D040700 0
028 E010700 0
028 E020700 0
028 E030700 0
028 E040700 0
028 F010700 0
028 F020700 0
028 F030700 0
028 F040700 0
028 G010700 0
028 G020700 0
028 G030700 0
028 G040700 0
028 H000700 0
045 000700 Y
046 000700 N
047 000700 Y
048 000700 0.850
048 A010700 0
048 A020700 0.000
048 B010700 0
048 B020700 0.000
048 C010700 0
048 C020700 0.000
048 D010700 0
048 D020700 0.000
048 E010700 0
048 E020700 0.000
048 F010700 0
048 F020700 0.000
048 G010700 0
048 G020700 0.000
048 H010700 0
048 H020700 0.000
<PAGE> PAGE 19
048 I010700 0
048 I020700 0.000
048 J010700 0
048 J020700 0.000
048 K010700 0
048 K020700 0.000
055 A000700 N
055 B000700 N
056 000700 Y
057 000700 N
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 N
070 B010700 Y
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
<PAGE> PAGE 20
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 N
070 O010700 Y
070 O020700 N
070 P010700 Y
070 P020700 N
070 Q010700 N
070 Q020700 N
070 R010700 Y
070 R020700 N
071 A000700 0
071 B000700 0
071 C000700 0
071 D000700 0
072 A000700 7
072 B000700 0
072 C000700 0
072 D000700 0
072 E000700 0
072 F000700 0
072 G000700 0
072 H000700 0
072 I000700 0
072 J000700 0
072 K000700 0
072 L000700 0
072 M000700 0
072 N000700 0
072 O000700 0
072 P000700 0
072 Q000700 0
072 R000700 0
072 S000700 0
072 T000700 0
072 U000700 0
072 V000700 0
072 W000700 0
<PAGE> PAGE 21
072 X000700 0
072 Y000700 0
072 Z000700 0
072AA000700 0
072BB000700 0
072CC010700 0
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 0
074 C000700 0
074 D000700 0
074 E000700 0
074 F000700 0
074 G000700 0
074 H000700 0
074 I000700 0
074 J000700 0
074 K000700 0
074 L000700 0
074 M000700 0
074 N000700 0
074 O000700 0
074 P000700 0
074 Q000700 0
074 R010700 0
074 R020700 0
074 R030700 0
074 R040700 0
074 S000700 0
074 T000700 0
074 U010700 0
074 U020700 0
074 V010700 0.00
074 V020700 0.00
074 W000700 0.0000
074 X000700 1
074 Y000700 0
075 A000700 0
075 B000700 0
076 000700 0.00
SIGNATURE GREGORY S. DUCH
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 05
<NAME> ALGER AMERICAN BALANCED PORTFOLIO
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1994
<PERIOD-END> DEC-31-1994
<INVESTMENTS-AT-COST> 11042
<INVESTMENTS-AT-VALUE> 11196
<RECEIVABLES> 260
<ASSETS-OTHER> 1
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 11457
<PAYABLE-FOR-SECURITIES> 248
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 815
<TOTAL-LIABILITIES> 1063
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 10280
<SHARES-COMMON-STOCK> 962
<SHARES-COMMON-PRIOR> 678
<ACCUMULATED-NII-CURRENT> 217
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 257
<ACCUM-APPREC-OR-DEPREC> 154
<NET-ASSETS> 10394
<DIVIDEND-INCOME> 37
<INTEREST-INCOME> 283
<OTHER-INCOME> 0
<EXPENSES-NET> (102)
<NET-INVESTMENT-INCOME> 218
<REALIZED-GAINS-CURRENT> (257)
<APPREC-INCREASE-CURRENT> (333)
<NET-CHANGE-FROM-OPS> (372)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (110)
<DISTRIBUTIONS-OF-GAINS> (124)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 413
<NUMBER-OF-SHARES-REDEEMED> 151
<SHARES-REINVESTED> 22
<NET-CHANGE-IN-ASSETS> 2547
<ACCUMULATED-NII-PRIOR> 109
<ACCUMULATED-GAINS-PRIOR> 124
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 71
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 102
<AVERAGE-NET-ASSETS> 9448
<PER-SHARE-NAV-BEGIN> 11.58
<PER-SHARE-NII> .20
<PER-SHARE-GAIN-APPREC> (.70)
<PER-SHARE-DIVIDEND> (.13)
<PER-SHARE-DISTRIBUTIONS> (.15)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.80
<EXPENSE-RATIO> 1.08
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 04
<NAME> ALGER AMERICAN GROWTH PORTFOLIO
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1994
<PERIOD-END> DEC-31-1994
<INVESTMENTS-AT-COST> 158562
<INVESTMENTS-AT-VALUE> 169288
<RECEIVABLES> 425
<ASSETS-OTHER> 5
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 169718
<PAYABLE-FOR-SECURITIES> 10156
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 9172
<TOTAL-LIABILITIES> 19328
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 138493
<SHARES-COMMON-STOCK> 6502
<SHARES-COMMON-PRIOR> 3035
<ACCUMULATED-NII-CURRENT> 482
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 690
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 10725
<NET-ASSETS> 150390
<DIVIDEND-INCOME> 747
<INTEREST-INCOME> 606
<OTHER-INCOME> 0
<EXPENSES-NET> (870)
<NET-INVESTMENT-INCOME> 483
<REALIZED-GAINS-CURRENT> 706
<APPREC-INCREASE-CURRENT> 1040
<NET-CHANGE-FROM-OPS> 2229
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (123)
<DISTRIBUTIONS-OF-GAINS> (6409)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5374
<NUMBER-OF-SHARES-REDEEMED> 2212
<SHARES-REINVESTED> 305
<NET-CHANGE-IN-ASSETS> 75513
<ACCUMULATED-NII-PRIOR> 121
<ACCUMULATED-GAINS-PRIOR> 6394
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 757
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 870
<AVERAGE-NET-ASSETS> 102665
<PER-SHARE-NAV-BEGIN> 24.67
<PER-SHARE-NII> .07
<PER-SHARE-GAIN-APPREC> .15
<PER-SHARE-DIVIDEND> (.03)
<PER-SHARE-DISTRIBUTIONS> (1.73)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 23.13
<EXPENSE-RATIO> .86
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 02
<NAME> ALGER AMERICAN INCOME & GROWTH PORTFOLIO
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1994
<PERIOD-END> DEC-31-1994
<INVESTMENTS-AT-COST> 32592
<INVESTMENTS-AT-VALUE> 33278
<RECEIVABLES> 450
<ASSETS-OTHER> 2
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 33730
<PAYABLE-FOR-SECURITIES> 1749
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2846
<TOTAL-LIABILITIES> 4595
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 30520
<SHARES-COMMON-STOCK> 2191
<SHARES-COMMON-PRIOR> 2083
<ACCUMULATED-NII-CURRENT> 363
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 2434
<ACCUM-APPREC-OR-DEPREC> 686
<NET-ASSETS> 29135
<DIVIDEND-INCOME> 450
<INTEREST-INCOME> 140
<OTHER-INCOME> 0
<EXPENSES-NET> (226)
<NET-INVESTMENT-INCOME> 364
<REALIZED-GAINS-CURRENT> (2088)
<APPREC-INCREASE-CURRENT> (1210)
<NET-CHANGE-FROM-OPS> (2934)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (297)
<DISTRIBUTIONS-OF-GAINS> (1140)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 682
<NUMBER-OF-SHARES-REDEEMED> 687
<SHARES-REINVESTED> 113
<NET-CHANGE-IN-ASSETS> 2760
<ACCUMULATED-NII-PRIOR> 296
<ACCUMULATED-GAINS-PRIOR> 794
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 187
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 226
<AVERAGE-NET-ASSETS> 30196
<PER-SHARE-NAV-BEGIN> 15.31
<PER-SHARE-NII> .17
<PER-SHARE-GAIN-APPREC> (1.47)
<PER-SHARE-DIVIDEND> (.15)
<PER-SHARE-DISTRIBUTIONS> (.56)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.30
<EXPENSE-RATIO> .75
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 07
<NAME> ALGER AMERICAN LEVERAGED ALLCAP PORTFOLIO
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1994
<PERIOD-END> DEC-31-1994
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 0
<NET-INVESTMENT-INCOME> 0
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 0
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 0
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 06
<NAME> ALGER AMERICAN MIDCAP GROWTH PORTFOLIO
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1994
<PERIOD-END> DEC-31-1994
<INVESTMENTS-AT-COST> 70346
<INVESTMENTS-AT-VALUE> 75300
<RECEIVABLES> 978
<ASSETS-OTHER> 3
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 76281
<PAYABLE-FOR-SECURITIES> 5384
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 8719
<TOTAL-LIABILITIES> 14103
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 59551
<SHARES-COMMON-STOCK> 4620
<SHARES-COMMON-PRIOR> 1552
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 18
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 2310
<ACCUM-APPREC-OR-DEPREC> 4955
<NET-ASSETS> 62178
<DIVIDEND-INCOME> 88
<INTEREST-INCOME> 301
<OTHER-INCOME> 0
<EXPENSES-NET> (377)
<NET-INVESTMENT-INCOME> 12
<REALIZED-GAINS-CURRENT> (2319)
<APPREC-INCREASE-CURRENT> 2843
<NET-CHANGE-FROM-OPS> 536
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (122)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3902
<NUMBER-OF-SHARES-REDEEMED> 844
<SHARES-REINVESTED> 10
<NET-CHANGE-IN-ASSETS> 40877
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 131
<OVERDISTRIB-NII-PRIOR> 30
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 312
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 377
<AVERAGE-NET-ASSETS> 39932
<PER-SHARE-NAV-BEGIN> 13.72
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> (.21)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.05)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.46
<EXPENSE-RATIO> .97
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 03
<NAME> ALGER AMERICAN SMALL CAPITALIZATION PORTFOLIO
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1994
<PERIOD-END> DEC-31-1994
<INVESTMENTS-AT-COST> 457608
<INVESTMENTS-AT-VALUE> 503044
<RECEIVABLES> 2664
<ASSETS-OTHER> 13
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 505721
<PAYABLE-FOR-SECURITIES> 23775
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 84909
<TOTAL-LIABILITIES> 108684
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 369774
<SHARES-COMMON-STOCK> 14538
<SHARES-COMMON-PRIOR> 7735
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 1212
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 16961
<ACCUM-APPREC-OR-DEPREC> 45436
<NET-ASSETS> 397037
<DIVIDEND-INCOME> 395
<INTEREST-INCOME> 1985
<OTHER-INCOME> 0
<EXPENSES-NET> (2661)
<NET-INVESTMENT-INCOME> (281)
<REALIZED-GAINS-CURRENT> (17564)
<APPREC-INCREASE-CURRENT> 14069
<NET-CHANGE-FROM-OPS> (3776)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (18317)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 12403
<NUMBER-OF-SHARES-REDEEMED> 6312
<SHARES-REINVESTED> 712
<NET-CHANGE-IN-ASSETS> 158187
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 18919
<OVERDISTRIB-NII-PRIOR> 931
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2367
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2661
<AVERAGE-NET-ASSETS> 281822
<PER-SHARE-NAV-BEGIN> 30.88
<PER-SHARE-NII> (.03)
<PER-SHARE-GAIN-APPREC> (1.45)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (2.09)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 27.31
<EXPENSE-RATIO> .96
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>