VANGUARD INSTITUTIONAL INDEX FUND
NSAR-A, 1996-08-23
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<PAGE>      PAGE  1
000 A000000 06/30/96
000 C000000 0000862084
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 INSTITUTIONAL INDEX FUND
001 B000000 811-6093
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
018  000000 Y
019 A000000 Y
019 B000000   94
019 C000000 VANGUARDGR
020 A000001 SALOMON BROTHERS INC.
020 B000001 13-3082694
020 C000001    102
020 A000002 BEAR STEARNS & CO.
020 B000002 13-3299429
020 C000002     94
020 A000003 PAINEWEBBER INCORPORATED
020 B000003 13-2638166
020 C000003     92
020 A000004 MORGAN STANLEY & CO., INC.
020 B000004 13-2655998
020 C000004     87
020 A000005 INSTINET CORPORATION
020 B000005 13-3443395
020 C000005     25
020 A000006 FAHNESTOCK & CO. INC.
020 B000006 13-5657518
020 C000006      7
020 A000007 LEHMAN BROTHERS INC.
020 B000007 13-2518466
020 C000007      6
020 A000008 SPEAR, LEEDS & KELLOGG
020 B000008 13-5515160
020 C000008      2
020 A000009 SMITH BARNEY INC.
<PAGE>      PAGE  2
020 B000009 13-1912900
020 C000009      1
020 A000010 INVESTMENT TECHNOLOGY GROUP, INC.
020 B000010 95-4339369
020 C000010      1
021  000000      420
022 A000001 SEI LIQUID ASSET TRUST PRIME OBLIGATION PORT.
022 B000001 04-6565149
022 C000001   1009228
022 D000001   1009276
022 A000002 VANGUARD MARKETING CORPORATION
022 B000002 23-2019846
022 C000002    496883
022 D000002         0
022 A000003 TOTAL STOCK MARKET PORTFOLIO/VANGUARD INDEX
022 B000003 23-2671505
022 C000003         0
022 D000003    458977
022 A000004 TROSTER SINGER
022 B000004 13-5515160
022 C000004     77586
022 D000004         0
022 A000005 MORGAN STANLEY & CO., INC.
022 B000005 13-2655998
022 C000005     65227
022 D000005         0
022 A000006 GOLDMAN SACHS & CO.
022 B000006 13-5108880
022 C000006     61725
022 D000006         0
022 A000007 J.P. MORGAN SECURITIES INC.
022 B000007 13-3224016
022 C000007     36471
022 D000007         0
022 A000008 500 PORTFOLIO/VANGUARD INDEX TRUST
022 B000008 23-1999755
022 C000008         0
022 D000008     30180
022 A000009 GENERAL ELECTRIC CORP.
022 C000009     29969
022 D000009         0
022 A000010 LORAL CORP.
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022 D000010     15313
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023 D000000    1523093
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<PAGE>      PAGE  3
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<PAGE>      PAGE  5
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078  000000 N
SIGNATURE   GARY P. SOURA                                
TITLE       SR. MANAGER         
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000862084
<NAME> VANGUARD INSTITUTIONAL INDEX FUND
<MULTIPLIER> 1,000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               JUN-30-1996
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                          6677385
<INVESTMENTS-AT-VALUE>                         8788438
<RECEIVABLES>                                   595765
<ASSETS-OTHER>                                       2
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 9384205
<PAYABLE-FOR-SECURITIES>                        112377
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       501306
<TOTAL-LIABILITIES>                             613683
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       6518270
<SHARES-COMMON-STOCK>                           138681
<SHARES-COMMON-PRIOR>                           115220
<ACCUMULATED-NII-CURRENT>                        37257
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                         103955
<OVERDISTRIBUTION-GAINS>                             0
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<EQUALIZATION>                                    4430
<DISTRIBUTIONS-OF-INCOME>                        60402
<DISTRIBUTIONS-OF-GAINS>                         11778
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          36493
<NUMBER-OF-SHARES-REDEEMED>                      14063
<SHARES-REINVESTED>                               1031
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<GROSS-ADVISORY-FEES>                                0
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<AVERAGE-NET-ASSETS>                           7977136
<PER-SHARE-NAV-BEGIN>                            57.93
<PER-SHARE-NII>                                   0.67
<PER-SHARE-GAIN-APPREC>                           5.17
<PER-SHARE-DIVIDEND>                              0.44
<PER-SHARE-DISTRIBUTIONS>                         0.09
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              63.24
<EXPENSE-RATIO>                                   0.06
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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