<PAGE> PAGE 1
000 B000000 12/31/96
000 C000000 0000832566
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 Y
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
077 A000000 Y
080 A00AA00 VIGILANT INSURANCE COMPANIES
080 C00AA00 4125
081 A00AA00 Y
081 B00AA00 17
082 A00AA00 Y
082 B00AA00 25
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
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
<PAGE> PAGE 2
062 Q000200 0.0
062 R000200 0.0
071 A000200 25498
071 B000200 15778
071 C000200 12975
071 D000200 122
072 A000200 12
074 N000200 21533
074 T000200 20910
075 A000200 0
075 B000200 14903
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
071 A000300 1657331
071 B000300 1213618
071 C000300 1102910
071 D000300 110
072 A000300 12
074 N000300 1480503
074 T000300 1469518
075 A000300 0
075 B000300 1250391
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
<PAGE> PAGE 3
062 N000400 0.0
062 O000400 0.0
062 P000400 0.0
062 Q000400 0.0
062 R000400 0.0
071 A000400 975334
071 B000400 548414
071 C000400 661842
071 D000400 83
072 A000400 12
074 N000400 1043135
074 T000400 991028
075 A000400 0
075 B000400 748628
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
071 A000500 8484
071 B000500 3900
071 C000500 5680
071 D000500 69
072 A000500 12
074 N000500 10649
074 T000500 10486
075 A000500 0
075 B000500 7455
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
<PAGE> PAGE 4
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
071 A000600 412328
071 B000600 233285
071 C000600 256437
071 D000600 91
072 A000600 12
074 N000600 399479
074 T000600 394847
075 A000600 0
075 B000600 291869
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
071 A000700 46795
071 B000700 19565
071 C000700 19163
071 D000700 102
072 A000700 12
074 N000700 35885
074 T000700 34925
075 A000700 0
075 B000700 20976
SIGNATURE GREGORY S. DUCH
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 5
<NAME> ALGER AMERICAN BALANCED PORFOLIO
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 9687763
<INVESTMENTS-AT-VALUE> 10523735
<RECEIVABLES> 124549
<ASSETS-OTHER> 303
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 10648587
<PAYABLE-FOR-SECURITIES> 74638
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 88265
<TOTAL-LIABILITIES> 162903
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 9293064
<SHARES-COMMON-STOCK> 1134492
<SHARES-COMMON-PRIOR> 858864
<ACCUMULATED-NII-CURRENT> 147959
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 208689
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 835972
<NET-ASSETS> 10485684
<DIVIDEND-INCOME> 28016
<INTEREST-INCOME> 210102
<OTHER-INCOME> 0
<EXPENSES-NET> 84665
<NET-INVESTMENT-INCOME> 153453
<REALIZED-GAINS-CURRENT> 215191
<APPREC-INCREASE-CURRENT> 327089
<NET-CHANGE-FROM-OPS> 695733
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 324679
<DISTRIBUTIONS-OF-GAINS> 2173260
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 701980
<NUMBER-OF-SHARES-REDEEMED> 114847
<SHARES-REINVESTED> 278167
<NET-CHANGE-IN-ASSETS> 6814515
<ACCUMULATED-NII-PRIOR> 319185
<ACCUMULATED-GAINS-PRIOR> 2166758
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 55775
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 84665
<AVERAGE-NET-ASSETS> 7455286
<PER-SHARE-NAV-BEGIN> 13.64
<PER-SHARE-NII> .21
<PER-SHARE-GAIN-APPREC> 1.01
<PER-SHARE-DIVIDEND> (.73)
<PER-SHARE-DISTRIBUTIONS> (4.89)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.24
<EXPENSE-RATIO> 1.14
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 3
<NAME> ALGER AMERICAN SMALL CAPITALIZATION PORTFOLIO
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 1267746480
<INVESTMENTS-AT-VALUE> 1468783069
<RECEIVABLES> 11691864
<ASSETS-OTHER> 28519
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1480503452
<PAYABLE-FOR-SECURITIES> 2595909
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 8389074
<TOTAL-LIABILITIES> 10984983
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1226865358
<SHARES-COMMON-STOCK> 35924690
<SHARES-COMMON-PRIOR> 30704711
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 5560628
<ACCUMULATED-NET-GAINS> 47177150
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 201036589
<NET-ASSETS> 1469518469
<DIVIDEND-INCOME> 1218045
<INTEREST-INCOME> 8662712
<OTHER-INCOME> 0
<EXPENSES-NET> 11051905
<NET-INVESTMENT-INCOME> (1171148)
<REALIZED-GAINS-CURRENT> 74215000
<APPREC-INCREASE-CURRENT> (40231403)
<NET-CHANGE-FROM-OPS> 32812449
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 4872722
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 23962644
<NUMBER-OF-SHARES-REDEEMED> 13122238
<SHARES-REINVESTED> 107827
<NET-CHANGE-IN-ASSETS> 485306321
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 4389480
<OVERDIST-NET-GAINS-PRIOR> 22165128
<GROSS-ADVISORY-FEES> 10617051
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 11051905
<AVERAGE-NET-ASSETS> 1250390797
<PER-SHARE-NAV-BEGIN> 39.41
<PER-SHARE-NII> (.04)
<PER-SHARE-GAIN-APPREC> 1.70
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.16)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 40.91
<EXPENSE-RATIO> .88
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 4
<NAME> ALGER AMERICAN GROWTH PORTFOLIO
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 895888541
<INVESTMENTS-AT-VALUE> 1024844901
<RECEIVABLES> 18273079
<ASSETS-OTHER> 16876
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1043134856
<PAYABLE-FOR-SECURITIES> 18661927
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 33444561
<TOTAL-LIABILITIES> 52106488
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 853061438
<SHARES-COMMON-STOCK> 28868474
<SHARES-COMMON-PRIOR> 23010477
<ACCUMULATED-NII-CURRENT> 3745616
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 5264954
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 128956360
<NET-ASSETS> 991028368
<DIVIDEND-INCOME> 4541995
<INTEREST-INCOME> 5084368
<OTHER-INCOME> 0
<EXPENSES-NET> 5869088
<NET-INVESTMENT-INCOME> 3757275
<REALIZED-GAINS-CURRENT> 10026741
<APPREC-INCREASE-CURRENT> 75821385
<NET-CHANGE-FROM-OPS> 89605401
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 460331
<DISTRIBUTIONS-OF-GAINS> 19459452
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 19647051
<NUMBER-OF-SHARES-REDEEMED> 7525422
<SHARES-REINVESTED> 603264
<NET-CHANGE-IN-ASSETS> 488054829
<ACCUMULATED-NII-PRIOR> 448672
<ACCUMULATED-GAINS-PRIOR> 14697665
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5604710
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5869088
<AVERAGE-NET-ASSETS> 748628150
<PER-SHARE-NAV-BEGIN> 31.16
<PER-SHARE-NII> .10
<PER-SHARE-GAIN-APPREC> 4.02
<PER-SHARE-DIVIDEND> (.02)
<PER-SHARE-DISTRIBUTIONS> (.93)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 34.33
<EXPENSE-RATIO> .79
<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> 12-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 32977350
<INVESTMENTS-AT-VALUE> 35409988
<RECEIVABLES> 474421
<ASSETS-OTHER> 458
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 35884867
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 959597
<TOTAL-LIABILITIES> 959597
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 33283516
<SHARES-COMMON-STOCK> 1803878
<SHARES-COMMON-PRIOR> 1125307
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 40367
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 750517
<ACCUM-APPREC-OR-DEPREC> 2432638
<NET-ASSETS> 34925270
<DIVIDEND-INCOME> 79611
<INTEREST-INCOME> 116532
<OTHER-INCOME> 0
<EXPENSES-NET> 228445
<NET-INVESTMENT-INCOME> (32302)
<REALIZED-GAINS-CURRENT> (496035)
<APPREC-INCREASE-CURRENT> 2028927
<NET-CHANGE-FROM-OPS> 1500590
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 145132
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2109229
<NUMBER-OF-SHARES-REDEEMED> 627954
<SHARES-REINVESTED> 7221
<NET-CHANGE-IN-ASSETS> 29428184
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 8065
<OVERDIST-NET-GAINS-PRIOR> 109350
<GROSS-ADVISORY-FEES> 177612
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 228445
<AVERAGE-NET-ASSETS> 20975934
<PER-SHARE-NAV-BEGIN> 17.43
<PER-SHARE-NII> (.03)
<PER-SHARE-GAIN-APPREC> 2.14
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.18)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 19.36
<EXPENSE-RATIO> 1.09
<AVG-DEBT-OUTSTANDING> 76079
<AVG-DEBT-PER-SHARE> .07
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 6
<NAME> ALGER AMERICAN MIDCAP GROWTH PORTFOLIO
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 345512564
<INVESTMENTS-AT-VALUE> 394253047
<RECEIVABLES> 5217929
<ASSETS-OTHER> 8168
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 399479144
<PAYABLE-FOR-SECURITIES> 3761381
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 871029
<TOTAL-LIABILITIES> 4632410
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 340402368
<SHARES-COMMON-STOCK> 18494256
<SHARES-COMMON-PRIOR> 13722082
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 62882
<ACCUMULATED-NET-GAINS> 5766765
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 48740483
<NET-ASSETS> 394846734
<DIVIDEND-INCOME> 596804
<INTEREST-INCOME> 2103965
<OTHER-INCOME> 0
<EXPENSES-NET> 2458870
<NET-INVESTMENT-INCOME> 241899
<REALIZED-GAINS-CURRENT> 9953972
<APPREC-INCREASE-CURRENT> 17131537
<NET-CHANGE-FROM-OPS> 27327408
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 5502860
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 16365480
<NUMBER-OF-SHARES-REDEEMED> 7657192
<SHARES-REINVESTED> 252773
<NET-CHANGE-IN-ASSETS> 209497971
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1315653
<OVERDISTRIB-NII-PRIOR> 304781
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2330374
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2458870
<AVERAGE-NET-ASSETS> 291869149
<PER-SHARE-NAV-BEGIN> 19.44
<PER-SHARE-NII> .03
<PER-SHARE-GAIN-APPREC> 2.29
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.41)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 21.35
<EXPENSE-RATIO> .84
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 2
<NAME> ALGER AMERICAN INCOME & GROWTH PORTFOLIO
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 18463293
<INVESTMENTS-AT-VALUE> 21466121
<RECEIVABLES> 67098
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 21533219
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 622979
<TOTAL-LIABILITIES> 622979
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 16599760
<SHARES-COMMON-STOCK> 2482483
<SHARES-COMMON-PRIOR> 1924730
<ACCUMULATED-NII-CURRENT> 150862
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1156790
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3002828
<NET-ASSETS> 20910240
<DIVIDEND-INCOME> 154109
<INTEREST-INCOME> 106242
<OTHER-INCOME> 0
<EXPENSES-NET> 120396
<NET-INVESTMENT-INCOME> 139955
<REALIZED-GAINS-CURRENT> 1169219
<APPREC-INCREASE-CURRENT> 1638507
<NET-CHANGE-FROM-OPS> 2947681
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 229100
<DISTRIBUTIONS-OF-GAINS> 7658484
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1280083
<NUMBER-OF-SHARES-REDEEMED> 347790
<SHARES-REINVESTED> 1064451
<NET-CHANGE-IN-ASSETS> 12270781
<ACCUMULATED-NII-PRIOR> 240007
<ACCUMULATED-GAINS-PRIOR> 7646055
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 92934
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 120396
<AVERAGE-NET-ASSETS> 14902967
<PER-SHARE-NAV-BEGIN> 17.79
<PER-SHARE-NII> .09
<PER-SHARE-GAIN-APPREC> 1.87
<PER-SHARE-DIVIDEND> (.33)
<PER-SHARE-DISTRIBUTIONS> (11.00)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 8.42
<EXPENSE-RATIO> .81
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
