VANGUARD INSTITUTIONAL INDEX FUND
NSAR-A, 1998-08-14
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<PAGE>      PAGE  1
000 A000000 06/30/98
000 C000000 0000862084
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001 A000000 VANGUARD INSTITUTIONAL INDEX FUND
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002 A000000 100 VANGUARD BOULEVARD
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010 B000001 801-11953
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020 A000002 BEAR STEARNS SECURITIES CORP.
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020 A000006 INSTINET
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020 A000007 NOMURA SECURITIES INTL. INC.
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020 C000007     25
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SIGNATURE   GARY P. SOURA                                
TITLE       MANAGER             
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000862084
<NAME> VANGAURD INSTITUTIONAL INDEX FUND
<SERIES>
   <NUMBER> 1
   <NAME> INSTITUTIONAL SHARES
<MULTIPLIER> 1
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                         13743663
<INVESTMENTS-AT-VALUE>                        23119650
<RECEIVABLES>                                   729918
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                23849568
<PAYABLE-FOR-SECURITIES>                        141485
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       619748
<TOTAL-LIABILITIES>                             761233
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      13536706
<SHARES-COMMON-STOCK>                           181274
<SHARES-COMMON-PRIOR>                           171368
<ACCUMULATED-NII-CURRENT>                        25952
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                         146953
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       9378724
<NET-ASSETS>                                  18964090
<DIVIDEND-INCOME>                               157751
<INTEREST-INCOME>                                 6826
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                    5695
<NET-INVESTMENT-INCOME>                         158882
<REALIZED-GAINS-CURRENT>                        754262
<APPREC-INCREASE-CURRENT>                      2538112
<NET-CHANGE-FROM-OPS>                          3451256
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       108054
<DISTRIBUTIONS-OF-GAINS>                         36559
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          33079
<NUMBER-OF-SHARES-REDEEMED>                      24436
<SHARES-REINVESTED>                               1263
<NET-CHANGE-IN-ASSETS>                         4252528
<ACCUMULATED-NII-PRIOR>                             93
<ACCUMULATED-GAINS-PRIOR>                        33087
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                   5695
<AVERAGE-NET-ASSETS>                          17391691
<PER-SHARE-NAV-BEGIN>                            89.56
<PER-SHARE-NII>                                  0.717
<PER-SHARE-GAIN-APPREC>                         15.148
<PER-SHARE-DIVIDEND>                              0.60
<PER-SHARE-DISTRIBUTIONS>                        0.205
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                             104.62
<EXPENSE-RATIO>                                   0.06
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000862084
<NAME> VANGUARD INSTITUTIONAL INDEX FUND
<SERIES>
   <NUMBER> 2
   <NAME> INSTITUTIONAL PLUS SHARES
<MULTIPLIER> 1000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                         13743663
<INVESTMENTS-AT-VALUE>                        23119650
<RECEIVABLES>                                   729918
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                23849568
<PAYABLE-FOR-SECURITIES>                        141485
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       619748
<TOTAL-LIABILITIES>                             761233
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      13536706
<SHARES-COMMON-STOCK>                            39421
<SHARES-COMMON-PRIOR>                            38945
<ACCUMULATED-NII-CURRENT>                        25952
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                         146953
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       9378724
<NET-ASSETS>                                   4124245
<DIVIDEND-INCOME>                               157751
<INTEREST-INCOME>                                 6826
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                    5695
<NET-INVESTMENT-INCOME>                         158882
<REALIZED-GAINS-CURRENT>                        754262
<APPREC-INCREASE-CURRENT>                      2538112
<NET-CHANGE-FROM-OPS>                          3451256
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        24969
<DISTRIBUTIONS-OF-GAINS>                          7946
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          10213
<NUMBER-OF-SHARES-REDEEMED>                      10058
<SHARES-REINVESTED>                                321
<NET-CHANGE-IN-ASSETS>                         4252528
<ACCUMULATED-NII-PRIOR>                             93
<ACCUMULATED-GAINS-PRIOR>                        33087
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                   5695
<AVERAGE-NET-ASSETS>                           4002986
<PER-SHARE-NAV-BEGIN>                            89.56
<PER-SHARE-NII>                                  0.734
<PER-SHARE-GAIN-APPREC>                         15.146
<PER-SHARE-DIVIDEND>                             0.615
<PER-SHARE-DISTRIBUTIONS>                        0.205
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                             104.62
<EXPENSE-RATIO>                                  0.025
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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