SECURITY EQUITY FUND
NSAR-A, 1998-05-27
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<PAGE>      PAGE  1
000 A000000 03/31/98
000 C000000 0000088525
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 SECURITY EQUITY FUND
001 B000000 811-1136
001 C000000 7854313127
002 A000000 700 HARRISON STREET
002 B000000 TOPEKA
002 C000000 KS
002 D010000 66636
002 D020000 0001
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  6
007 C010100  1
007 C020100 EQUITY SERIES
007 C030100 N
007 C010200  2
007 C020200 GLOBAL SERIES
007 C030200 N
007 C010300  3
007 C020300 ASSET ALLOCATION SERIES
007 C030300 N
007 C010400  4
007 C020400 SOCIAL AWARENESS SERIES
007 C030400 N
007 C010500  5
007 C020500 VALUE SERIES
007 C030500 N
007 C010600  6
007 C020600 SMALL COMPANY SERIES
007 C030600 N
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
010 A00AA01 SECURITY MANAGEMENT COMPANY, LLC
010 B00AA01 811-8008
010 C01AA01 TOPEKA
010 C02AA01 KS
010 C03AA01 66636
010 C04AA01 0001
<PAGE>      PAGE  2
011 A00AA01 SECURITY DISTRIBUTORS, INC.
011 B00AA01 8-10781
011 C01AA01 TOPEKA
011 C02AA01 KS
011 C03AA01 66636
011 C04AA01 0001
012 A00AA01 SECURITY MANAGEMENT COMPANY, LLC
012 B00AA01 84-01497
012 C01AA01 TOPEKA
012 C02AA01 KS
012 C03AA01 66636
012 C04AA01 0001
013 A00AA01 ERNST & YOUNG, LLP
013 B01AA01 KANSAS CITY
013 B02AA01 MO
013 B03AA01 64105
013 B04AA01 2143
018  00AA00 Y
019 A00AA00 Y
019 B00AA00   33
019 C00AA00 SECURITYFU
020 A000001 FIRST NEW YORK SECURITIES COMPANY
020 B000001 13-3270745
020 C000001     74
020 A000002 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP
020 B000002 13-2741729
020 C000002     43
020 A000003 FINANCIAL NETWORK INVESTMENT CORPORATION
020 B000003 95-3845382
020 C000003     39
020 A000004 PRUDENTIAL-BACHE SECURITIES, INC.
020 B000004 22-2347336
020 C000004     35
020 A000005 ALLIED RESEARCH SERVICES, INC.
020 B000005 75-1872581
020 C000005     35
020 A000006 BRIDGE TRADING COMPANY
020 B000006 43-1450530
020 C000006     33
020 A000007 LIPPER ANALYTICAL SECURITIES CORPORATION
020 B000007 13-2792478
020 C000007     30
020 A000008 SALOMON BROTHERS, INC
020 B000008 13-3082694
020 C000008     29
020 A000009 DEUTSCHE MORGAN-GRENFEL
020 B000009 13-2730828
020 C000009     29
020 A000010 PAINE WEBBER, INC.
020 B000010 13-2638166
020 C000010     27
<PAGE>      PAGE  3
021  000000      775
022 A000001 MERRILL LYNCH
022 B000001 13-5674085
022 C000001      2421
022 D000001      1723
022 A000002 SALOMON/SMITH BARNEY
022 B000002 13-3082694
022 C000002      3560
022 D000002      5842
022 A000003 SBL FUND A
022 B000003 48-0873454
022 C000003         0
022 D000003      4408
022 A000004 MORGAN STANLEY & COMPANY, INC.
022 B000004 13-2655998
022 C000004      3523
022 D000004        72
022 A000005 EDWARDS (A.G.) & SONS, INC.
022 B000005 43-0895447
022 C000005      3968
022 D000005       221
022 A000006 OPPENHEIMER & COMPANY, INC.
022 B000006 13-2798343
022 C000006      5692
022 D000006       132
022 A000007 PRUDENTIAL-BACHE SECURITIES, INC.
022 B000007 22-2347336
022 C000007       927
022 D000007      2834
022 A000008 GOLDMAN SACHS & COMPANY
022 B000008 13-5108880
022 C000008      3657
022 D000008      7306
022 A000009 PAINE WEBBER, INC.
022 B000009 13-2638166
022 C000009      2138
022 D000009       931
022 A000010 SECURITY CASH FUND
022 B000010 48-0911935
022 C000010      2562
022 D000010         0
023 C000000      35879
023 D000000      27258
024  00AA00 N
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<PAGE>      PAGE  4
025 D00AA08       0
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080 A00AA00 NATIONAL UNION FIRE INSURANCE COMPANY
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008 A000101 SECURITY MANAGEMENT COMPANY, LLC
008 B000101 A
008 C000101 801-8008
008 D010101 TOPEKA
008 D020101 KS
008 D030101 66636
008 D040101 0001
015 A000101 UMB BANK, N.A.
015 B000101 C
015 C010101 KANSAS CITY
015 C020101 MO
015 C030101 64106
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<PAGE>      PAGE  5
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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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008 A000201 SECURITY MANAGEMENT COMPANY, LLC
008 B000201 A
008 C000201 801-8008
<PAGE>      PAGE  10
008 D010201 TOPEKA
008 D020201 KS
008 D030201 66636
008 D040201 0001
008 A000202 LEXINGTON MANAGEMENT COMPANY
008 B000202 S
008 C000202 801-8281
008 D010202 SADDLE BROOK
008 D020202 NJ
008 D030202 07662
015 A000201 CHASE MANHATTAN BANK, N.A.
015 B000201 C
015 C010201 BROOKLYN
015 C020201 NY
015 C030201 11245
015 E010201 X
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<PAGE>      PAGE  11
032  000200      8
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051  000200 N
052  000200 N
<PAGE>      PAGE  12
053 A000200 N
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054 C000200 Y
054 D000200 Y
054 E000200 Y
054 F000200 Y
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054 K000200 Y
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<PAGE>      PAGE  13
066 G000200 N
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<PAGE>      PAGE  14
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<PAGE>      PAGE  15
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008 A000301 SECURITY MANAGEMENT COMPANY, LLC
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008 D030301 66636
008 D040301 0001
008 A000302 MERIDIAN INVESTMENT MANAGEMENT CORP
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008 D010302 ENGLEWOOD
008 D020302 CO
008 D030302 80112
015 A000301 CHASE MANHATTAN BANK, N.A.
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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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SIGNATURE   AMY J. LEE                                   
TITLE       SECRETARY           
 


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<NET-CHANGE-IN-ASSETS>                       93,723
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<ACCUMULATED-GAINS-PRIOR>                    62,415
<OVERDISTRIB-NII-PRIOR>                           0
<OVERDIST-NET-GAINS-PRIOR>                        0
<GROSS-ADVISORY-FEES>                         4,386
<INTEREST-EXPENSE>                                0
<GROSS-EXPENSE>                               4,847
<AVERAGE-NET-ASSETS>                        859,544
<PER-SHARE-NAV-BEGIN>                          9.09
<PER-SHARE-NII>                                 .02
<PER-SHARE-GAIN-APPREC>                        1.40
<PER-SHARE-DIVIDEND>                            .03
<PER-SHARE-DISTRIBUTIONS>                       .80
<RETURNS-OF-CAPITAL>                              0
<PER-SHARE-NAV-END>                            9.68
<EXPENSE-RATIO>                                1.02
<AVG-DEBT-OUTSTANDING>                            0
<AVG-DEBT-PER-SHARE>                              0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>                            6
<CIK>                                0000088525
<NAME>                               SECURITY EQUITY FUND
<SERIES>
     <NUMBER>                        012
     <NAME>                          EQUITY SERIES - CLASS B
<MULTIPLIER>                         1,000
<CURRENCY>                           U.S. DOLLARS
       
<S>                                  <C>
<PERIOD-TYPE>                        YEAR
<FISCAL-YEAR-END>                    SEP-30-1998
<PERIOD-START>                       OCT-01-1997
<PERIOD-END>                         MAR-31-1998
<EXCHANGE-RATE>                                   1
<INVESTMENTS-AT-COST>                       528,568
<INVESTMENTS-AT-VALUE>                      921,517
<RECEIVABLES>                                 3,810
<ASSETS-OTHER>                               38,625
<OTHER-ITEMS-ASSETS>                              0
<TOTAL-ASSETS>                              963,952
<PAYABLE-FOR-SECURITIES>                      3,793
<SENIOR-LONG-TERM-DEBT>                           0
<OTHER-ITEMS-LIABILITIES>                     1,311
<TOTAL-LIABILITIES>                           5,104
<SENIOR-EQUITY>                                   0
<PAID-IN-CAPITAL-COMMON>                    528,564
<SHARES-COMMON-STOCK>                        11,504
<SHARES-COMMON-PRIOR>                        10,125
<ACCUMULATED-NII-CURRENT>                     1,229
<OVERDISTRIBUTION-NII>                            0
<ACCUMULATED-NET-GAINS>                      36,106
<OVERDISTRIBUTION-GAINS>                          0
<ACCUM-APPREC-OR-DEPREC>                    392,949
<NET-ASSETS>                                958,848
<DIVIDEND-INCOME>                             5,023
<INTEREST-INCOME>                             1,132
<OTHER-INCOME>                                    0
<EXPENSES-NET>                                4,847
<NET-INVESTMENT-INCOME>                       1,308
<REALIZED-GAINS-CURRENT>                     45,962
<APPREC-INCREASE-CURRENT>                    93,510
<NET-CHANGE-FROM-OPS>                       140,780
<EQUALIZATION>                                    0
<DISTRIBUTIONS-OF-INCOME>                         0
<DISTRIBUTIONS-OF-GAINS>                      7,896
<DISTRIBUTIONS-OTHER>                             0
<NUMBER-OF-SHARES-SOLD>                       4,418
<NUMBER-OF-SHARES-REDEEMED>                   4,023
<SHARES-REINVESTED>                             984
<NET-CHANGE-IN-ASSETS>                       18,269
<ACCUMULATED-NII-PRIOR>                       2,266
<ACCUMULATED-GAINS-PRIOR>                    62,415
<OVERDISTRIB-NII-PRIOR>                           0
<OVERDIST-NET-GAINS-PRIOR>                        0
<GROSS-ADVISORY-FEES>                         4,386
<INTEREST-EXPENSE>                                0
<GROSS-EXPENSE>                               4,847
<AVERAGE-NET-ASSETS>                        859,544
<PER-SHARE-NAV-BEGIN>                          8.82
<PER-SHARE-NII>                               (.02)
<PER-SHARE-GAIN-APPREC>                        1.35
<PER-SHARE-DIVIDEND>                              0
<PER-SHARE-DISTRIBUTIONS>                       .80
<RETURNS-OF-CAPITAL>                              0
<PER-SHARE-NAV-END>                            9.35
<EXPENSE-RATIO>                                2.02
<AVG-DEBT-OUTSTANDING>                            0
<AVG-DEBT-PER-SHARE>                              0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>                            6
<CIK>                                0000088525
<NAME>                               SECURITY EQUITY FUND
<SERIES>
     <NUMBER>                        021
     <NAME>                          GLOBAL SERIES - CLASS A
<MULTIPLIER>                         1,000
<CURRENCY>                           U.S. DOLLARS
       
<S>                                  <C>
<PERIOD-TYPE>                        YEAR
<FISCAL-YEAR-END>                    SEP-30-1998
<PERIOD-START>                       OCT-01-1997
<PERIOD-END>                         MAR-31-1998
<EXCHANGE-RATE>                                   1
<INVESTMENTS-AT-COST>                        28,369
<INVESTMENTS-AT-VALUE>                       33,983
<RECEIVABLES>                                 1,039
<ASSETS-OTHER>                                  150
<OTHER-ITEMS-ASSETS>                              0
<TOTAL-ASSETS>                               35,172
<PAYABLE-FOR-SECURITIES>                        604
<SENIOR-LONG-TERM-DEBT>                           0
<OTHER-ITEMS-LIABILITIES>                        77
<TOTAL-LIABILITIES>                             681
<SENIOR-EQUITY>                                   0
<PAID-IN-CAPITAL-COMMON>                     28,367
<SHARES-COMMON-STOCK>                         1,695
<SHARES-COMMON-PRIOR>                         1,784
<ACCUMULATED-NII-CURRENT>                     (199)
<OVERDISTRIBUTION-NII>                            0
<ACCUMULATED-NET-GAINS>                         706
<OVERDISTRIBUTION-GAINS>                          0
<ACCUM-APPREC-OR-DEPREC>                      5,617
<NET-ASSETS>                                 34,491
<DIVIDEND-INCOME>                               222
<INTEREST-INCOME>                                52
<OTHER-INCOME>                                 (22)
<EXPENSES-NET>                                  407
<NET-INVESTMENT-INCOME>                       (155)
<REALIZED-GAINS-CURRENT>                        712
<APPREC-INCREASE-CURRENT>                     1,030
<NET-CHANGE-FROM-OPS>                         1,587
<EQUALIZATION>                                    0
<DISTRIBUTIONS-OF-INCOME>                       150
<DISTRIBUTIONS-OF-GAINS>                      1,840
<DISTRIBUTIONS-OTHER>                             0
<NUMBER-OF-SHARES-SOLD>                         204
<NUMBER-OF-SHARES-REDEEMED>                     472
<SHARES-REINVESTED>                             179
<NET-CHANGE-IN-ASSETS>                      (2,233)
<ACCUMULATED-NII-PRIOR>                         106
<ACCUMULATED-GAINS-PRIOR>                     2,920
<OVERDISTRIB-NII-PRIOR>                           0
<OVERDIST-NET-GAINS-PRIOR>                        0
<GROSS-ADVISORY-FEES>                           345
<INTEREST-EXPENSE>                                0
<GROSS-EXPENSE>                                 407
<AVERAGE-NET-ASSETS>                         34,242
<PER-SHARE-NAV-BEGIN>                         13.56
<PER-SHARE-NII>                               (.03)
<PER-SHARE-GAIN-APPREC>                         .59
<PER-SHARE-DIVIDEND>                            .09
<PER-SHARE-DISTRIBUTIONS>                      1.07
<RETURNS-OF-CAPITAL>                              0
<PER-SHARE-NAV-END>                           12.96
<EXPENSE-RATIO>                                 2.0
<AVG-DEBT-OUTSTANDING>                            0
<AVG-DEBT-PER-SHARE>                              0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>                            6
<CIK>                                0000088525
<NAME>                               SECURITY EQUITY FUND
<SERIES>
     <NUMBER>                        022
     <NAME>                          GLOBAL SERIES - CLASS B
<MULTIPLIER>                         1,000
<CURRENCY>                           U.S. DOLLARS
       
<S>                                  <C>
<PERIOD-TYPE>                        YEAR
<FISCAL-YEAR-END>                    SEP-30-1998
<PERIOD-START>                       OCT-01-1997
<PERIOD-END>                         MAR-31-1998
<EXCHANGE-RATE>                                   1
<INVESTMENTS-AT-COST>                        28,369
<INVESTMENTS-AT-VALUE>                       33,983
<RECEIVABLES>                                 1,039
<ASSETS-OTHER>                                  150
<OTHER-ITEMS-ASSETS>                              0
<TOTAL-ASSETS>                               35,172
<PAYABLE-FOR-SECURITIES>                        604
<SENIOR-LONG-TERM-DEBT>                           0
<OTHER-ITEMS-LIABILITIES>                        77
<TOTAL-LIABILITIES>                             681
<SENIOR-EQUITY>                                   0
<PAID-IN-CAPITAL-COMMON>                     28,367
<SHARES-COMMON-STOCK>                           992
<SHARES-COMMON-PRIOR>                           988
<ACCUMULATED-NII-CURRENT>                     (199)
<OVERDISTRIBUTION-NII>                            0
<ACCUMULATED-NET-GAINS>                         706
<OVERDISTRIBUTION-GAINS>                          0
<ACCUM-APPREC-OR-DEPREC>                      5,617
<NET-ASSETS>                                 34,491
<DIVIDEND-INCOME>                               222
<INTEREST-INCOME>                                52
<OTHER-INCOME>                                 (22)
<EXPENSES-NET>                                  407
<NET-INVESTMENT-INCOME>                       (155)
<REALIZED-GAINS-CURRENT>                        712
<APPREC-INCREASE-CURRENT>                     1,030
<NET-CHANGE-FROM-OPS>                         1,587
<EQUALIZATION>                                    0
<DISTRIBUTIONS-OF-INCOME>                         0
<DISTRIBUTIONS-OF-GAINS>                      1,086
<DISTRIBUTIONS-OTHER>                             0
<NUMBER-OF-SHARES-SOLD>                         191
<NUMBER-OF-SHARES-REDEEMED>                     288
<SHARES-REINVESTED>                             101
<NET-CHANGE-IN-ASSETS>                        (530)
<ACCUMULATED-NII-PRIOR>                         106
<ACCUMULATED-GAINS-PRIOR>                     2,920
<OVERDISTRIB-NII-PRIOR>                           0
<OVERDIST-NET-GAINS-PRIOR>                        0
<GROSS-ADVISORY-FEES>                           345
<INTEREST-EXPENSE>                                0
<GROSS-EXPENSE>                                 407
<AVERAGE-NET-ASSETS>                         34,242
<PER-SHARE-NAV-BEGIN>                         13.22
<PER-SHARE-NII>                               (.09)
<PER-SHARE-GAIN-APPREC>                         .57
<PER-SHARE-DIVIDEND>                              0
<PER-SHARE-DISTRIBUTIONS>                      1.07
<RETURNS-OF-CAPITAL>                              0
<PER-SHARE-NAV-END>                           12.63
<EXPENSE-RATIO>                                 3.0
<AVG-DEBT-OUTSTANDING>                            0
<AVG-DEBT-PER-SHARE>                              0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>                            6
<CIK>                                0000088525
<NAME>                               SECURITY EQUITY FUND
<SERIES>
     <NUMBER>                        031
     <NAME>                          ASSET ALLOCATION SERIES - CLASS A
<MULTIPLIER>                         1,000
<CURRENCY>                           U.S. DOLLARS
       
<S>                                  <C>
<PERIOD-TYPE>                        YEAR
<FISCAL-YEAR-END>                    SEP-30-1998
<PERIOD-START>                       OCT-01-1997
<PERIOD-END>                         MAR-31-1998
<EXCHANGE-RATE>                                   1
<INVESTMENTS-AT-COST>                         6,361
<INVESTMENTS-AT-VALUE>                        7,163
<RECEIVABLES>                                   287
<ASSETS-OTHER>                                    0
<OTHER-ITEMS-ASSETS>                              0
<TOTAL-ASSETS>                                7,450
<PAYABLE-FOR-SECURITIES>                          0
<SENIOR-LONG-TERM-DEBT>                           0
<OTHER-ITEMS-LIABILITIES>                        23
<TOTAL-LIABILITIES>                              23
<SENIOR-EQUITY>                                   0
<PAID-IN-CAPITAL-COMMON>                      6,472
<SHARES-COMMON-STOCK>                           319
<SHARES-COMMON-PRIOR>                           310
<ACCUMULATED-NII-CURRENT>                      (25)
<OVERDISTRIBUTION-NII>                            0
<ACCUMULATED-NET-GAINS>                         178
<OVERDISTRIBUTION-GAINS>                          0
<ACCUM-APPREC-OR-DEPREC>                        802
<NET-ASSETS>                                  7,427
<DIVIDEND-INCOME>                                28
<INTEREST-INCOME>                                56
<OTHER-INCOME>                                  (1)
<EXPENSES-NET>                                   89
<NET-INVESTMENT-INCOME>                         (6)
<REALIZED-GAINS-CURRENT>                        180
<APPREC-INCREASE-CURRENT>                        56
<NET-CHANGE-FROM-OPS>                           230
<EQUALIZATION>                                    0
<DISTRIBUTIONS-OF-INCOME>                        59
<DISTRIBUTIONS-OF-GAINS>                        225
<DISTRIBUTIONS-OTHER>                             0
<NUMBER-OF-SHARES-SOLD>                          16
<NUMBER-OF-SHARES-REDEEMED>                      33
<SHARES-REINVESTED>                              26
<NET-CHANGE-IN-ASSETS>                         (83)
<ACCUMULATED-NII-PRIOR>                          68
<ACCUMULATED-GAINS-PRIOR>                       453
<OVERDISTRIB-NII-PRIOR>                           0
<OVERDIST-NET-GAINS-PRIOR>                        0
<GROSS-ADVISORY-FEES>                            36
<INTEREST-EXPENSE>                                0
<GROSS-EXPENSE>                                 108
<AVERAGE-NET-ASSETS>                          7,274
<PER-SHARE-NAV-BEGIN>                         12.58
<PER-SHARE-NII>                                 .02
<PER-SHARE-GAIN-APPREC>                         .33
<PER-SHARE-DIVIDEND>                            .20
<PER-SHARE-DISTRIBUTIONS>                       .75
<RETURNS-OF-CAPITAL>                              0
<PER-SHARE-NAV-END>                           11.98
<EXPENSE-RATIO>                                2.00
<AVG-DEBT-OUTSTANDING>                            0
<AVG-DEBT-PER-SHARE>                              0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>                            6
<CIK>                                0000088525
<NAME>                               SECURITY EQUITY FUND
<SERIES>
     <NUMBER>                        032
     <NAME>                          ASSET ALLOCATION SERIES - CLASS B
<MULTIPLIER>                         1,000
<CURRENCY>                           U.S. DOLLARS
       
<S>                                  <C>
<PERIOD-TYPE>                        YEAR
<FISCAL-YEAR-END>                    SEP-30-1997
<PERIOD-START>                       OCT-01-1997
<PERIOD-END>                         MAR-31-1998
<EXCHANGE-RATE>                                   1
<INVESTMENTS-AT-COST>                         6,361
<INVESTMENTS-AT-VALUE>                        7,163
<RECEIVABLES>                                   287
<ASSETS-OTHER>                                    0
<OTHER-ITEMS-ASSETS>                              0
<TOTAL-ASSETS>                                7,450
<PAYABLE-FOR-SECURITIES>                          0
<SENIOR-LONG-TERM-DEBT>                           0
<OTHER-ITEMS-LIABILITIES>                        23
<TOTAL-LIABILITIES>                              23
<SENIOR-EQUITY>                                   0
<PAID-IN-CAPITAL-COMMON>                      6,472
<SHARES-COMMON-STOCK>                           303
<SHARES-COMMON-PRIOR>                           309
<ACCUMULATED-NII-CURRENT>                      (25)
<OVERDISTRIBUTION-NII>                            0
<ACCUMULATED-NET-GAINS>                         178
<OVERDISTRIBUTION-GAINS>                          0
<ACCUM-APPREC-OR-DEPREC>                        802
<NET-ASSETS>                                  7,427
<DIVIDEND-INCOME>                                28
<INTEREST-INCOME>                                56
<OTHER-INCOME>                                  (1)
<EXPENSES-NET>                                   89
<NET-INVESTMENT-INCOME>                         (6)
<REALIZED-GAINS-CURRENT>                        180
<APPREC-INCREASE-CURRENT>                        56
<NET-CHANGE-FROM-OPS>                           230
<EQUALIZATION>                                    0
<DISTRIBUTIONS-OF-INCOME>                        28
<DISTRIBUTIONS-OF-GAINS>                        231
<DISTRIBUTIONS-OTHER>                             0
<NUMBER-OF-SHARES-SOLD>                           7
<NUMBER-OF-SHARES-REDEEMED>                      37
<SHARES-REINVESTED>                              24
<NET-CHANGE-IN-ASSETS>                        (248)
<ACCUMULATED-NII-PRIOR>                          68
<ACCUMULATED-GAINS-PRIOR>                       453
<OVERDISTRIB-NII-PRIOR>                           0
<OVERDIST-NET-GAINS-PRIOR>                        0
<GROSS-ADVISORY-FEES>                            36
<INTEREST-EXPENSE>                                0
<GROSS-EXPENSE>                                 108
<AVERAGE-NET-ASSETS>                          7,274
<PER-SHARE-NAV-BEGIN>                         12.45
<PER-SHARE-NII>                               (.04)
<PER-SHARE-GAIN-APPREC>                         .34
<PER-SHARE-DIVIDEND>                            .09
<PER-SHARE-DISTRIBUTIONS>                       .75
<RETURNS-OF-CAPITAL>                              0
<PER-SHARE-NAV-END>                           11.91
<EXPENSE-RATIO>                                2.91
<AVG-DEBT-OUTSTANDING>                            0
<AVG-DEBT-PER-SHARE>                              0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>                            6
<CIK>                                0000088525
<NAME>                               SECURITY EQUITY FUND
<SERIES>
     <NUMBER>                        041
     <NAME>                          SOCIAL AWARENESS SERIES - CLASS A
<MULTIPLIER>                         1,000
<CURRENCY>                           U.S. DOLLARS
       
<S>                                  <C>
<PERIOD-TYPE>                        YEAR
<FISCAL-YEAR-END>                    SEP-30-1998
<PERIOD-START>                       OCT-01-1997
<PERIOD-END>                         MAR-31-1998
<EXCHANGE-RATE>                                   1
<INVESTMENTS-AT-COST>                         9,274
<INVESTMENTS-AT-VALUE>                       12,285
<RECEIVABLES>                                    39
<ASSETS-OTHER>                                  325
<OTHER-ITEMS-ASSETS>                              0
<TOTAL-ASSETS>                               12,649
<PAYABLE-FOR-SECURITIES>                          0
<SENIOR-LONG-TERM-DEBT>                           0
<OTHER-ITEMS-LIABILITIES>                        81
<TOTAL-LIABILITIES>                              81
<SENIOR-EQUITY>                                   0
<PAID-IN-CAPITAL-COMMON>                      9,491
<SHARES-COMMON-STOCK>                           379
<SHARES-COMMON-PRIOR>                           345
<ACCUMULATED-NII-CURRENT>                      (12)
<OVERDISTRIBUTION-NII>                            0
<ACCUMULATED-NET-GAINS>                          78
<OVERDISTRIBUTION-GAINS>                          0
<ACCUM-APPREC-OR-DEPREC>                      3,011
<NET-ASSETS>                                 12,568
<DIVIDEND-INCOME>                                49
<INTEREST-INCOME>                                13
<OTHER-INCOME>                                    0
<EXPENSES-NET>                                   66
<NET-INVESTMENT-INCOME>                         (4)
<REALIZED-GAINS-CURRENT>                        283
<APPREC-INCREASE-CURRENT>                     1,370
<NET-CHANGE-FROM-OPS>                         1,649
<EQUALIZATION>                                    0
<DISTRIBUTIONS-OF-INCOME>                        13
<DISTRIBUTIONS-OF-GAINS>                          0
<DISTRIBUTIONS-OTHER>                             0
<NUMBER-OF-SHARES-SOLD>                          42
<NUMBER-OF-SHARES-REDEEMED>                       9
<SHARES-REINVESTED>                               1
<NET-CHANGE-IN-ASSETS>                        1,638
<ACCUMULATED-NII-PRIOR>                           6
<ACCUMULATED-GAINS-PRIOR>                     (205)
<OVERDISTRIB-NII-PRIOR>                           0
<OVERDIST-NET-GAINS-PRIOR>                        0
<GROSS-ADVISORY-FEES>                            54
<INTEREST-EXPENSE>                                0
<GROSS-EXPENSE>                                 100
<AVERAGE-NET-ASSETS>                         10,743
<PER-SHARE-NAV-BEGIN>                         17.99
<PER-SHARE-NII>                                 .03
<PER-SHARE-GAIN-APPREC>                        2.75
<PER-SHARE-DIVIDEND>                            .04
<PER-SHARE-DISTRIBUTIONS>                         0
<RETURNS-OF-CAPITAL>                              0
<PER-SHARE-NAV-END>                           20.73
<EXPENSE-RATIO>                                0.81
<AVG-DEBT-OUTSTANDING>                            0
<AVG-DEBT-PER-SHARE>                              0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>                            6
<CIK>                                0000088525
<NAME>                               SECURITY EQUITY FUND
<SERIES>
     <NUMBER>                        042
     <NAME>                          SOCIAL AWARENESS SERIES - CLASS B
<MULTIPLIER>                         1,000
<CURRENCY>                           U.S. DOLLARS
       
<S>                                  <C>
<PERIOD-TYPE>                        YEAR
<FISCAL-YEAR-END>                    SEP-30-1998
<PERIOD-START>                       OCT-01-1997
<PERIOD-END>                         MAR-31-1998
<EXCHANGE-RATE>                                   1
<INVESTMENTS-AT-COST>                         9,274
<INVESTMENTS-AT-VALUE>                       12,285
<RECEIVABLES>                                    39
<ASSETS-OTHER>                                  325
<OTHER-ITEMS-ASSETS>                              0
<TOTAL-ASSETS>                               12,649
<PAYABLE-FOR-SECURITIES>                          0
<SENIOR-LONG-TERM-DEBT>                           0
<OTHER-ITEMS-LIABILITIES>                        81
<TOTAL-LIABILITIES>                              81
<SENIOR-EQUITY>                                   0
<PAID-IN-CAPITAL-COMMON>                      9,491
<SHARES-COMMON-STOCK>                           231
<SHARES-COMMON-PRIOR>                           204
<ACCUMULATED-NII-CURRENT>                      (12)
<OVERDISTRIBUTION-NII>                            0
<ACCUMULATED-NET-GAINS>                          78
<OVERDISTRIBUTION-GAINS>                          0
<ACCUM-APPREC-OR-DEPREC>                      3,011
<NET-ASSETS>                                 12,568
<DIVIDEND-INCOME>                                49
<INTEREST-INCOME>                                13
<OTHER-INCOME>                                    0
<EXPENSES-NET>                                   66
<NET-INVESTMENT-INCOME>                         (4)
<REALIZED-GAINS-CURRENT>                        283
<APPREC-INCREASE-CURRENT>                     1,370
<NET-CHANGE-FROM-OPS>                         1,649
<EQUALIZATION>                                    0
<DISTRIBUTIONS-OF-INCOME>                        13
<DISTRIBUTIONS-OF-GAINS>                          0
<DISTRIBUTIONS-OTHER>                             0
<NUMBER-OF-SHARES-SOLD>                          30
<NUMBER-OF-SHARES-REDEEMED>                       3
<SHARES-REINVESTED>                               0
<NET-CHANGE-IN-ASSETS>                        1,080
<ACCUMULATED-NII-PRIOR>                           6
<ACCUMULATED-GAINS-PRIOR>                     (205)
<OVERDISTRIB-NII-PRIOR>                           0
<OVERDIST-NET-GAINS-PRIOR>                        0
<GROSS-ADVISORY-FEES>                            54
<INTEREST-EXPENSE>                                0
<GROSS-EXPENSE>                                 100
<AVERAGE-NET-ASSETS>                         10,743
<PER-SHARE-NAV-BEGIN>                         17.81
<PER-SHARE-NII>                               (.07)
<PER-SHARE-GAIN-APPREC>                        2.71
<PER-SHARE-DIVIDEND>                              0
<PER-SHARE-DISTRIBUTIONS>                         0
<RETURNS-OF-CAPITAL>                              0
<PER-SHARE-NAV-END>                           20.45
<EXPENSE-RATIO>                                1.95
<AVG-DEBT-OUTSTANDING>                            0
<AVG-DEBT-PER-SHARE>                              0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>                            6
<CIK>                                0000088525
<NAME>                               SECURITY EQUITY FUND
<SERIES>
     <NUMBER>                        051
     <NAME>                          VALUE SERIES - CLASS A
<MULTIPLIER>                         1,000
<CURRENCY>                           U.S. DOLLARS
       
<S>                                  <C>
<PERIOD-TYPE>                        YEAR
<FISCAL-YEAR-END>                    SEP-30-1998
<PERIOD-START>                       OCT-01-1997
<PERIOD-END>                         MAR-31-1998
<EXCHANGE-RATE>                                   1
<INVESTMENTS-AT-COST>                        12,934
<INVESTMENTS-AT-VALUE>                       15,229
<RECEIVABLES>                                   208
<ASSETS-OTHER>                                  368
<OTHER-ITEMS-ASSETS>                              0
<TOTAL-ASSETS>                               15,805
<PAYABLE-FOR-SECURITIES>                        355
<SENIOR-LONG-TERM-DEBT>                           0
<OTHER-ITEMS-LIABILITIES>                        32
<TOTAL-LIABILITIES>                             387
<SENIOR-EQUITY>                                   0
<PAID-IN-CAPITAL-COMMON>                     12,855
<SHARES-COMMON-STOCK>                           667
<SHARES-COMMON-PRIOR>                           358
<ACCUMULATED-NII-CURRENT>                      (23)
<OVERDISTRIBUTION-NII>                            0
<ACCUMULATED-NET-GAINS>                         292
<OVERDISTRIBUTION-GAINS>                          0
<ACCUM-APPREC-OR-DEPREC>                      2,295
<NET-ASSETS>                                 15,419
<DIVIDEND-INCOME>                                69
<INTEREST-INCOME>                                 7
<OTHER-INCOME>                                    0
<EXPENSES-NET>                                   87
<NET-INVESTMENT-INCOME>                        (11)
<REALIZED-GAINS-CURRENT>                        433
<APPREC-INCREASE-CURRENT>                     1,438
<NET-CHANGE-FROM-OPS>                         1,860
<EQUALIZATION>                                    0
<DISTRIBUTIONS-OF-INCOME>                        24
<DISTRIBUTIONS-OF-GAINS>                        149
<DISTRIBUTIONS-OTHER>                             0
<NUMBER-OF-SHARES-SOLD>                         315
<NUMBER-OF-SHARES-REDEEMED>                      20
<SHARES-REINVESTED>                              14
<NET-CHANGE-IN-ASSETS>                        5,005
<ACCUMULATED-NII-PRIOR>                          11
<ACCUMULATED-GAINS-PRIOR>                       107
<OVERDISTRIB-NII-PRIOR>                           0
<OVERDIST-NET-GAINS-PRIOR>                        0
<GROSS-ADVISORY-FEES>                            58
<INTEREST-EXPENSE>                                0
<GROSS-EXPENSE>                                 122
<AVERAGE-NET-ASSETS>                         11,538
<PER-SHARE-NAV-BEGIN>                         12.95
<PER-SHARE-NII>                                 .01
<PER-SHARE-GAIN-APPREC>                        1.82
<PER-SHARE-DIVIDEND>                            .05
<PER-SHARE-DISTRIBUTIONS>                       .28
<RETURNS-OF-CAPITAL>                              0
<PER-SHARE-NAV-END>                           14.45
<EXPENSE-RATIO>                                1.09
<AVG-DEBT-OUTSTANDING>                            0
<AVG-DEBT-PER-SHARE>                              0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>                            6
<CIK>                                0000088525
<NAME>                               SECURITY EQUITY FUND
<SERIES>
     <NUMBER>                        052
     <NAME>                          VALUE SERIES - CLASS B
<MULTIPLIER>                         1,000
<CURRENCY>                           U.S. DOLLARS
       
<S>                                  <C>
<PERIOD-TYPE>                        YEAR
<FISCAL-YEAR-END>                    SEP-30-1998
<PERIOD-START>                       OCT-01-1997
<PERIOD-END>                         MAR-31-1998
<EXCHANGE-RATE>                                   1
<INVESTMENTS-AT-COST>                        12,934
<INVESTMENTS-AT-VALUE>                       15,229
<RECEIVABLES>                                   208
<ASSETS-OTHER>                                  368
<OTHER-ITEMS-ASSETS>                              0
<TOTAL-ASSETS>                               15,805
<PAYABLE-FOR-SECURITIES>                        355
<SENIOR-LONG-TERM-DEBT>                           0
<OTHER-ITEMS-LIABILITIES>                        32
<TOTAL-LIABILITIES>                             387
<SENIOR-EQUITY>                                   0
<PAID-IN-CAPITAL-COMMON>                     12,855
<SHARES-COMMON-STOCK>                           402
<SHARES-COMMON-PRIOR>                           277
<ACCUMULATED-NII-CURRENT>                      (23)
<OVERDISTRIBUTION-NII>                            0
<ACCUMULATED-NET-GAINS>                         292
<OVERDISTRIBUTION-GAINS>                          0
<ACCUM-APPREC-OR-DEPREC>                      2,295
<NET-ASSETS>                                 15,419
<DIVIDEND-INCOME>                                69
<INTEREST-INCOME>                                 7
<OTHER-INCOME>                                    0
<EXPENSES-NET>                                   87
<NET-INVESTMENT-INCOME>                        (11)
<REALIZED-GAINS-CURRENT>                        433
<APPREC-INCREASE-CURRENT>                     1,438
<NET-CHANGE-FROM-OPS>                         1,860
<EQUALIZATION>                                    0
<DISTRIBUTIONS-OF-INCOME>                         0
<DISTRIBUTIONS-OF-GAINS>                         99
<DISTRIBUTIONS-OTHER>                             0
<NUMBER-OF-SHARES-SOLD>                         162
<NUMBER-OF-SHARES-REDEEMED>                      44
<SHARES-REINVESTED>                               7
<NET-CHANGE-IN-ASSETS>                        2,211
<ACCUMULATED-NII-PRIOR>                          11
<ACCUMULATED-GAINS-PRIOR>                       107
<OVERDISTRIB-NII-PRIOR>                           0
<OVERDIST-NET-GAINS-PRIOR>                        0
<GROSS-ADVISORY-FEES>                            58
<INTEREST-EXPENSE>                                0
<GROSS-EXPENSE>                                 122
<AVERAGE-NET-ASSETS>                         11,538
<PER-SHARE-NAV-BEGIN>                         12.91
<PER-SHARE-NII>                               (.05)
<PER-SHARE-GAIN-APPREC>                        1.81
<PER-SHARE-DIVIDEND>                              0
<PER-SHARE-DISTRIBUTIONS>                       .28
<RETURNS-OF-CAPITAL>                              0
<PER-SHARE-NAV-END>                           14.39
<EXPENSE-RATIO>                                2.13
<AVG-DEBT-OUTSTANDING>                            0
<AVG-DEBT-PER-SHARE>                              0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>                            6
<CIK>                                0000088525
<NAME>                               SECURITY EQUITY FUND
<SERIES>
     <NUMBER>                        061
     <NAME>                          SMALL COMPANY SERIES - CLASS A
<MULTIPLIER>                         1,000
<CURRENCY>                           U.S. DOLLARS
       
<S>                                  <C>
<PERIOD-TYPE>                        YEAR
<FISCAL-YEAR-END>                    SEP-30-1998
<PERIOD-START>                       OCT-01-1997
<PERIOD-END>                         MAR-31-1998
<EXCHANGE-RATE>                                   1
<INVESTMENTS-AT-COST>                         3,073
<INVESTMENTS-AT-VALUE>                        3,654
<RECEIVABLES>                                   106
<ASSETS-OTHER>                                  145
<OTHER-ITEMS-ASSETS>                              0
<TOTAL-ASSETS>                                3,905
<PAYABLE-FOR-SECURITIES>                         74
<SENIOR-LONG-TERM-DEBT>                           0
<OTHER-ITEMS-LIABILITIES>                         5
<TOTAL-LIABILITIES>                              79
<SENIOR-EQUITY>                                   0
<PAID-IN-CAPITAL-COMMON>                      3,542
<SHARES-COMMON-STOCK>                           197
<SHARES-COMMON-PRIOR>                             0
<ACCUMULATED-NII-CURRENT>                       (6)
<OVERDISTRIBUTION-NII>                            0
<ACCUMULATED-NET-GAINS>                       (291)
<OVERDISTRIBUTION-GAINS>                          0
<ACCUM-APPREC-OR-DEPREC>                        581
<NET-ASSETS>                                  3,826
<DIVIDEND-INCOME>                                 7
<INTEREST-INCOME>                                13
<OTHER-INCOME>                                    0
<EXPENSES-NET>                                   24
<NET-INVESTMENT-INCOME>                         (4)
<REALIZED-GAINS-CURRENT>                      (291)
<APPREC-INCREASE-CURRENT>                       581
<NET-CHANGE-FROM-OPS>                           286
<EQUALIZATION>                                    0
<DISTRIBUTIONS-OF-INCOME>                         1
<DISTRIBUTIONS-OF-GAINS>                          0
<DISTRIBUTIONS-OTHER>                             0
<NUMBER-OF-SHARES-SOLD>                         208
<NUMBER-OF-SHARES-REDEEMED>                      11
<SHARES-REINVESTED>                               0
<NET-CHANGE-IN-ASSETS>                        2,120
<ACCUMULATED-NII-PRIOR>                           0
<ACCUMULATED-GAINS-PRIOR>                         0
<OVERDISTRIB-NII-PRIOR>                           0
<OVERDIST-NET-GAINS-PRIOR>                        0
<GROSS-ADVISORY-FEES>                            14
<INTEREST-EXPENSE>                                0
<GROSS-EXPENSE>                                  39
<AVERAGE-NET-ASSETS>                          2,895
<PER-SHARE-NAV-BEGIN>                         10.00
<PER-SHARE-NII>                                 .01
<PER-SHARE-GAIN-APPREC>                         .74
<PER-SHARE-DIVIDEND>                          (.01)
<PER-SHARE-DISTRIBUTIONS>                         0
<RETURNS-OF-CAPITAL>                              0
<PER-SHARE-NAV-END>                           10.74
<EXPENSE-RATIO>                                1.34
<AVG-DEBT-OUTSTANDING>                            0
<AVG-DEBT-PER-SHARE>                              0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>                            6
<CIK>                                0000088525
<NAME>                               SECURITY EQUITY FUND
<SERIES>
     <NUMBER>                        062
     <NAME>                          SMALL COMPANY SERIES - CLASS B
<MULTIPLIER>                         1,000
<CURRENCY>                           U.S. DOLLARS
       
<S>                                  <C>
<PERIOD-TYPE>                        YEAR
<FISCAL-YEAR-END>                    SEP-30-1998
<PERIOD-START>                       OCT-01-1997
<PERIOD-END>                         MAR-31-1998
<EXCHANGE-RATE>                                   1
<INVESTMENTS-AT-COST>                         3,073
<INVESTMENTS-AT-VALUE>                        3,654
<RECEIVABLES>                                   106
<ASSETS-OTHER>                                  145
<OTHER-ITEMS-ASSETS>                              0
<TOTAL-ASSETS>                                3,905
<PAYABLE-FOR-SECURITIES>                         74
<SENIOR-LONG-TERM-DEBT>                           0
<OTHER-ITEMS-LIABILITIES>                         5
<TOTAL-LIABILITIES>                              79
<SENIOR-EQUITY>                                   0
<PAID-IN-CAPITAL-COMMON>                      3,542
<SHARES-COMMON-STOCK>                           159
<SHARES-COMMON-PRIOR>                             0
<ACCUMULATED-NII-CURRENT>                       (6)
<OVERDISTRIBUTION-NII>                            0
<ACCUMULATED-NET-GAINS>                       (291)
<OVERDISTRIBUTION-GAINS>                          0
<ACCUM-APPREC-OR-DEPREC>                        581
<NET-ASSETS>                                  3,826
<DIVIDEND-INCOME>                                 7
<INTEREST-INCOME>                                13
<OTHER-INCOME>                                    0
<EXPENSES-NET>                                   24
<NET-INVESTMENT-INCOME>                         (4)
<REALIZED-GAINS-CURRENT>                      (291)
<APPREC-INCREASE-CURRENT>                       581
<NET-CHANGE-FROM-OPS>                           286
<EQUALIZATION>                                    0
<DISTRIBUTIONS-OF-INCOME>                         0
<DISTRIBUTIONS-OF-GAINS>                          0
<DISTRIBUTIONS-OTHER>                             0
<NUMBER-OF-SHARES-SOLD>                         160
<NUMBER-OF-SHARES-REDEEMED>                       1
<SHARES-REINVESTED>                               0
<NET-CHANGE-IN-ASSETS>                        1,706
<ACCUMULATED-NII-PRIOR>                           0
<ACCUMULATED-GAINS-PRIOR>                         0
<OVERDISTRIB-NII-PRIOR>                           0
<OVERDIST-NET-GAINS-PRIOR>                        0
<GROSS-ADVISORY-FEES>                            14
<INTEREST-EXPENSE>                                0
<GROSS-EXPENSE>                                  39
<AVERAGE-NET-ASSETS>                          2,895
<PER-SHARE-NAV-BEGIN>                         10.00
<PER-SHARE-NII>                               (.04)
<PER-SHARE-GAIN-APPREC>                         .75
<PER-SHARE-DIVIDEND>                              0
<PER-SHARE-DISTRIBUTIONS>                         0
<RETURNS-OF-CAPITAL>                              0
<PER-SHARE-NAV-END>                           10.71
<EXPENSE-RATIO>                                2.46
<AVG-DEBT-OUTSTANDING>                            0
<AVG-DEBT-PER-SHARE>                              0
        

</TABLE>


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