<PAGE> PAGE 1
000 B000000 12/31/94
000 C000000 088329
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 SECOND FIDUCIARY EXCHANGE FUND, INC.
001 B000000 811-1453
001 C000000 6174828260
002 A000000 24 FEDERAL ST
002 B000000 BOSTON
002 C000000 MA
002 D010000 02110
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 EATON VANCE MANAGEMENT
008 B000001 A
008 C000001 801-15930
008 D010001 BOSTON
008 D020001 MA
008 D030001 02110
011 A000001 EATON VANCE DISTRIBUTORS, INC.
011 B000001 8-24081
011 C010001 BOSTON
011 C020001 MA
011 C030001 02110
012 A000001 THE SHAREHOLDER SERVICES GROUP, INC.
012 B000001 85-401761
012 C010001 BOSTON
012 C020001 MA
012 C030001 02104
013 A000001 DELOITTE & TOUCHE
013 B010001 BOSTON
013 B020001 MA
<PAGE> PAGE 2
013 B030001 02110
014 A000001 EATON VANCE DISTRIBUTORS, INC.
014 B000001 8-24081
015 A000001 INVESTORS BANK & TRUST CO.
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02110
015 E030001 X
018 000000 Y
019 A000000 Y
019 B000000 201
019 C000000 EVGROUPOFF
020 A000001 OPPENHEIMER & CO.
020 C000001 7
020 A000002 BROADCORT CAP
020 C000002 2
020 A000003 BERNSTEIN (SANFORD C) & CO.
020 C000003 2
020 A000004 FIRST BOSTON
020 C000004 1
020 A000005 CANTOR FITZGERALD & CO.
020 C000005 1
020 A000006 STANDARD & POOR'S SECURITIES
020 C000006 1
020 A000007 PERSHING
020 C000007 1
020 A000008 LEHMAN BROTHERS INC.
020 C000008 1
020 A000009 NATHAN LEWIS
020 C000009 2
020 C000010 0
021 000000 18
022 A000001 THE COMPANY
022 C000001 131613
022 D000001 1995
022 A000002 CITICORP
022 C000002 44831
022 D000002 0
022 A000003 BT SECURITIES
022 C000003 2900
022 D000003 0
022 A000004 GENERAL ELECTRIC CAPITAL CORP.
022 C000004 2800
022 D000004 0
022 A000005 CANTOR FITZGERALD & CO.
022 C000005 836
022 D000005 1525
022 A000006 FIRST BOSTON
022 C000006 1200
022 D000006 570
<PAGE> PAGE 3
022 A000007 PRUDENTIAL FUNDING CORP.
022 C000007 1499
022 D000007 0
022 A000008 GOLDMAN SACHS & CO.
022 C000008 1299
022 D000008 0
022 A000009 AMERICAN EXPRESSS
022 C000009 1298
022 D000009 0
022 A000010 FORD MOTOR CREDIT CO.
022 C000010 1298
022 D000010 0
023 C000000 189574
023 D000000 4090
024 000000 N
025 D000001 0
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 N
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
028 A010000 0
028 A020000 0
028 A030000 0
028 A040000 222
028 B010000 0
028 B020000 0
028 B030000 0
028 B040000 407
028 C010000 0
028 C020000 49
028 C030000 0
028 C040000 103
028 D010000 0
028 D020000 -14
028 D030000 0
028 D040000 87
028 E010000 0
028 E020000 0
<PAGE> PAGE 4
028 E030000 0
028 E040000 34
028 F010000 0
028 F020000 53
028 F030000 0
028 F040000 782
028 G010000 0
028 G020000 88
028 G030000 0
028 G040000 1635
028 H000000 0
029 000000 N
030 A000000 0
030 B000000 0.00
030 C000000 0.00
031 A000000 0
031 B000000 0
032 000000 0
033 000000 0
034 000000 N
035 000000 0
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
040 000000 N
042 A000000 0
042 B000000 0
042 C000000 0
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 0
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.630
048 A010000 0
048 A020000 0.000
048 B010000 0
048 B020000 0.000
048 C010000 0
048 C020000 0.000
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
<PAGE> PAGE 5
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 0
048 K020000 0.000
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
054 A000000 Y
054 B000000 Y
054 C000000 N
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 Y
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 N
054 M000000 Y
054 N000000 N
054 O000000 N
055 A000000 N
055 B000000 N
056 000000 Y
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 0
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
<PAGE> PAGE 6
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 0
063 B000000 0.0
066 A000000 Y
066 B000000 N
066 C000000 N
066 D000000 N
066 E000000 Y
066 F000000 N
066 G000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 N
070 A020000 N
070 B010000 N
070 B020000 N
070 C010000 N
070 C020000 N
070 D010000 N
070 D020000 N
070 E010000 N
070 E020000 N
070 F010000 N
070 F020000 N
070 G010000 N
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 N
070 J020000 N
070 K010000 N
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 N
070 M020000 N
070 N010000 N
070 N020000 N
070 O010000 Y
070 O020000 Y
070 P010000 N
<PAGE> PAGE 7
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 6922
071 B000000 11757
071 C000000 59905
071 D000000 11
072 A000000 12
072 B000000 182
072 C000000 1385
072 D000000 0
072 E000000 0
072 F000000 399
072 G000000 0
072 H000000 0
072 I000000 15
072 J000000 44
072 K000000 4
072 L000000 20
072 M000000 6
072 N000000 0
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 25
072 S000000 1
072 T000000 0
072 U000000 0
072 V000000 0
072 W000000 6
072 X000000 520
072 Y000000 0
072 Z000000 1048
072AA000000 4245
072BB000000 0
072CC010000 0
072CC020000 4357
072DD010000 1026
072DD020000 0
072EE000000 0
073 A010000 2.0500
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 1
074 B000000 0
074 C000000 4312
074 D000000 0
074 E000000 0
<PAGE> PAGE 8
074 F000000 57454
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 0
074 K000000 0
074 L000000 123
074 M000000 12
074 N000000 61902
074 O000000 0
074 P000000 3
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 256
074 S000000 0
074 T000000 61643
074 U010000 491
074 U020000 0
074 V010000 125.59
074 V020000 0.00
074 W000000 0.0000
074 X000000 386
074 Y000000 0
075 A000000 0
075 B000000 63752
076 000000 0.00
077 A000000 Y
077 B000000 Y
078 000000 N
080 A000000 FEDERAL INSURANCE COMPANY
080 B000000 NATIONAL UNION FIRE INSURANCE COMPANY
080 C000000 40000
081 A000000 Y
081 B000000 224
082 A000000 Y
082 B000000 100
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
<PAGE> PAGE 9
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
SIGNATURE JAMES F. ALBAN
TITLE ASS'T. TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1994
<PERIOD-END> DEC-31-1994
<INVESTMENTS-AT-COST> 40,548
<INVESTMENTS-AT-VALUE> 61,766
<RECEIVABLES> 123
<ASSETS-OTHER> 12
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 61,902
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 259
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 30,829
<NET-ASSETS> 61,644
<DIVIDEND-INCOME> 1,385
<INTEREST-INCOME> 183
<OTHER-INCOME> 0
<EXPENSES-NET> 520
<NET-INVESTMENT-INCOME> 1,049
<REALIZED-GAINS-CURRENT> 4,245
<APPREC-INCREASE-CURRENT> (4,357)
<NET-CHANGE-FROM-OPS> 937
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (4,076)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 399
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 520
<AVERAGE-NET-ASSETS> 61,644
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0.82
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
