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<PAGE> PAGE 4
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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028 B010500 557
028 B020500 29
028 B030500 0
028 B040500 21
028 C010500 1572
028 C020500 34
028 C030500 0
028 C040500 218
028 D010500 1756
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028 D030500 0
028 D040500 192
028 E010500 1837
028 E020500 37
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028 F020500 45
028 F030500 0
028 F040500 438
028 G010500 8082
028 G020500 206
028 G030500 0
028 G040500 1152
028 H000500 6806
029 000500 Y
030 A000500 349
030 B000500 4.50
030 C000500 0.00
031 A000500 7
<PAGE> PAGE 20
031 B000500 0
032 000500 342
033 000500 0
034 000500 Y
035 000500 7
036 A000500 N
036 B000500 0
042 A000500 0
042 B000500 0
042 C000500 100
042 D000500 0
042 E000500 0
042 F000500 0
042 G000500 0
042 H000500 0
043 000500 36
044 000500 0
045 000500 Y
046 000500 N
047 000500 Y
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048 B010500 0
048 B020500 0.000
048 C010500 0
048 C020500 0.000
048 D010500 0
048 D020500 0.000
048 E010500 0
048 E020500 0.000
048 F010500 0
048 F020500 0.000
048 G010500 0
048 G020500 0.000
048 H010500 0
048 H020500 0.000
048 I010500 0
048 I020500 0.000
048 J010500 0
048 J020500 0.000
048 K010500 0
048 K020500 0.000
058 A000500 N
059 000500 Y
060 A000500 Y
060 B000500 Y
061 000500 500
062 A000500 Y
062 B000500 0.0
062 C000500 0.0
<PAGE> PAGE 21
062 D000500 18.1
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 18.1
062 N000500 16.1
062 O000500 0.0
062 P000500 25.9
062 Q000500 19.9
062 R000500 0.0
063 A000500 0
063 B000500 8.9
064 A000500 N
064 B000500 N
070 A010500 Y
070 A020500 Y
070 B010500 N
070 B020500 N
070 C010500 Y
070 C020500 N
070 D010500 Y
070 D020500 N
070 E010500 Y
070 E020500 N
070 F010500 N
070 F020500 N
070 G010500 Y
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 Y
070 J020500 Y
070 K010500 Y
070 K020500 N
070 L010500 Y
070 L020500 Y
070 M010500 Y
070 M020500 Y
070 N010500 Y
070 N020500 Y
070 O010500 Y
070 O020500 N
070 P010500 Y
070 P020500 Y
<PAGE> PAGE 22
070 Q010500 N
070 Q020500 N
070 R010500 N
070 R020500 N
071 A000500 20907
071 B000500 14082
071 C000500 8925
071 D000500 158
072 A000500 12
072 B000500 848
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072 D000500 0
072 E000500 0
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072 J000500 61
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072 M000500 3
072 N000500 25
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072 S000500 3
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072 V000500 0
072 W000500 32
072 X000500 600
072 Y000500 540
072 Z000500 788
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072BB000500 137
072CC010500 481
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073 B000500 0.0000
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<PAGE> PAGE 23
074 G000500 0
074 H000500 0
074 I000500 3245
074 J000500 1922
074 K000500 0
074 L000500 3649
074 M000500 29
074 N000500 21601
074 O000500 1949
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074 R030500 0
074 R040500 3357
074 S000500 0
074 T000500 16295
074 U010500 502
074 U020500 1105
074 V010500 0.00
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074 W000500 0.0000
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SIGNATURE S. ELLIOT COHAN
TITLE ASST. GEN COUNSEL
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<SERIES>
<NUMBER> 011
<NAME> Fixed Income Securities, Inc.
Limited Term Fund
Class A Shares
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<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 012
<NAME> Fixed Income Securities, Inc.
Limited Term Fund
Fortress Shares
<PERIOD-TYPE> 12-MOS
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</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 021
<NAME> Fixed Income Securities, Inc.
Limited Term Municipal Fund
Class A
<PERIOD-TYPE> 12-Mos
<FISCAL-YEAR-END> Nov-30-1995
<PERIOD-END> Nov-30-1995
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</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 022
<NAME> Fixed Income Securities, Inc.
Limited Term Municipal Fund
Fortress Shares
<PERIOD-TYPE> 12-Mos
<FISCAL-YEAR-END> Nov-30-1995
<PERIOD-END> Nov-30-1995
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</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 031
<NAME> Fixed Income Securities, Inc.
Federated Strategic Income Fund
Class A Shares
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> Nov-30-1995
<PERIOD-END> Nov-30-1995
<INVESTMENTS-AT-COST> 15,658,828
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</TABLE>
<TABLE> <S> <C>
<S> <C>
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<SERIES>
<NUMBER> 032
<NAME> Fixed Income Securities, Inc.
Federated Strategic Income Fund
Class B Shares
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> Nov-30-1995
<PERIOD-END> Nov-30-1995
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</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 033
<NAME> Fixed Income Securities, Inc.
Federated Strategic Income Fund
Class C Shares
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> Nov-30-1995
<PERIOD-END> Nov-30-1995
<INVESTMENTS-AT-COST> 15,658,828
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</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 034
<NAME> Fixed Income Securities, Inc.
Federated Strategic Income Fund
Class F
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</TABLE>
