FORTRESS ADJUSTABLE RATE U S GOVERNMENT FUND INC
NSAR-A, 1995-10-30
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SIGNATURE   S. ELLIOTT COHAN                             
TITLE       ASST. GEN. COUNSEL  
 


<TABLE> <S> <C>

                                                                               
<S>                             <C>                                            
                                                                               
<ARTICLE>                       6                                              
<SERIES>                                                                       
     <NUMBER>                   001                                            
     <NAME>                     Fortress Adjustable Rate U.S. Government Fund, 
                                                                               
                                                                               
<PERIOD-TYPE>                   6-Mos                                          
<FISCAL-YEAR-END>               Feb-28-1996                                    
<PERIOD-END>                    Aug-31-1995                                    
<INVESTMENTS-AT-COST>           378,482,803                                    
<INVESTMENTS-AT-VALUE>          381,547,127                                    
<RECEIVABLES>                   26,654,309                                     
<ASSETS-OTHER>                  161,549                                        
<OTHER-ITEMS-ASSETS>            0                                              
<TOTAL-ASSETS>                  408,362,985                                    
<PAYABLE-FOR-SECURITIES>        52,399,967                                     
<SENIOR-LONG-TERM-DEBT>         0                                              
<OTHER-ITEMS-LIABILITIES>       1,680,585                                      
<TOTAL-LIABILITIES>             54,080,552                                     
<SENIOR-EQUITY>                 0                                              
<PAID-IN-CAPITAL-COMMON>        396,909,122                                    
<SHARES-COMMON-STOCK>           37,251,300                                     
<SHARES-COMMON-PRIOR>           44,298,857                                     
<ACCUMULATED-NII-CURRENT>       0                                              
<OVERDISTRIBUTION-NII>          532,767                                        
<ACCUMULATED-NET-GAINS>         (45,158,246)                                   
<OVERDISTRIBUTION-GAINS>        0                                              
<ACCUM-APPREC-OR-DEPREC>        3,064,324                                      
<NET-ASSETS>                    354,282,433                                    
<DIVIDEND-INCOME>               0                                              
<INTEREST-INCOME>               12,923,708                                     
<OTHER-INCOME>                  0                                              
<EXPENSES-NET>                  1,986,094                                      
<NET-INVESTMENT-INCOME>         10,937,614                                     
<REALIZED-GAINS-CURRENT>        885,422                                        
<APPREC-INCREASE-CURRENT>       2,249,810                                      
<NET-CHANGE-FROM-OPS>           14,072,846                                     
<EQUALIZATION>                  (44,937)                                       
<DISTRIBUTIONS-OF-INCOME>       10,892,677                                     
<DISTRIBUTIONS-OF-GAINS>        0                                              
<DISTRIBUTIONS-OTHER>           66,814                                         
<NUMBER-OF-SHARES-SOLD>         894,322                                        
<NUMBER-OF-SHARES-REDEEMED>     8,445,411                                      
<SHARES-REINVESTED>             503,533                                        
<NET-CHANGE-IN-ASSETS>          (64,812,389)                                   
<ACCUMULATED-NII-PRIOR>         0                                              
<ACCUMULATED-GAINS-PRIOR>       (46,043,668)                                   
<OVERDISTRIB-NII-PRIOR>         465,955                                        
<OVERDIST-NET-GAINS-PRIOR>      0                                              
<GROSS-ADVISORY-FEES>           1,165,900                                      
<INTEREST-EXPENSE>              0                                              
<GROSS-EXPENSE>                 2,652,309                                      
<AVERAGE-NET-ASSETS>            385,772,713                                    
<PER-SHARE-NAV-BEGIN>           9.460                                          
<PER-SHARE-NII>                 0.260                                          
<PER-SHARE-GAIN-APPREC>         0.060                                          
<PER-SHARE-DIVIDEND>            0.260                                          
<PER-SHARE-DISTRIBUTIONS>       0.000                                          
<RETURNS-OF-CAPITAL>            0.010                                          
<PER-SHARE-NAV-END>             9.510                                          
<EXPENSE-RATIO>                 1.02                                           
<AVG-DEBT-OUTSTANDING>          6,723,855                                      
<AVG-DEBT-PER-SHARE>            0.168                                          
                                                                               

</TABLE>


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