<PAGE> PAGE 1
000 B000000 10/31/99
000 C000000 901539
000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 N 000 H000000 N 000
I000000 3.0 000 J000000 A
001 A000000 STRONG CONSERVATIVE EQUITY FUNDS, INC.
001 B000000 811-7656
001 C000000 4145777366
002 A000000 P.O.BOX 2936
002 B000000 MILWAUKEE
002 C000000 WI
002 D010000 53201
002 D020000 2936
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 5
007 C010100 1
007 C020100 STRONG AMERICAN UTILITIES FUND
007 C030100 N
007 C010200 2
007 C020200 STRONG EQUITY INCOME FUND
007 C030200 N
007 C010300 3
007 C020300 STRONG GROWTH AND INCOME FUND
007 C030300 N
007 C010400 4
007 C020400 STRONG BLUE CHIP 100 FUND
007 C030400 N
007 C010500 5
007 C020500 STRONG LIMITED RESOURCES FUND
007 C030500 N
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
007 C011100 11
007 C011200 12
007 C011300 13
007 C011400 14
007 C011500 15
007 C011600 16
007 C011700 17
007 C011800 18
<PAGE> PAGE 2
007 C011900 19
007 C012000 20
007 C012100 21
007 C012200 22
007 C012300 23
007 C012400 24
007 C012500 25
007 C012600 26
007 C012700 27
007 C012800 28
007 C012900 29
007 C013000 30
011 A00AA01 STRONG INVESTMENTS, INC.
011 B00AA01 8-10724
011 C01AA01 MILWAUKEE
011 C02AA01 WI
011 C03AA01 53201
011 C04AA01 2936
012 A00AA01 STRONG CAPITAL MANAGEMENT, INC.
012 B00AA01 84-1599
012 C01AA01 MILWAUKEE
012 C02AA01 WI
012 C03AA01 53201
012 C04AA01 2936
013 A00AA01 PRICEWATERHOUSECOOPERS LLP
013 B01AA01 MILWAUKEE
013 B02AA01 WI
013 B03AA01 53202
014 A00AA01 STRONG INVESTMENTS, INC.
014 B00AA01 8-32608
014 A00AA02 W.H. REAVES & COMPANY, INC.
014 B00AA02 8-22142
015 A00AA01 FIRSTAR BANK MILWAUKEE, N.A.
015 B00AA01 C
015 C01AA01 MILWAUKEE
015 C02AA01 WI
015 C03AA01 53202
015 E01AA01 X
015 A00AA02 BROWN BROTHERS HARRIMAN & CO.
015 B00AA02 S
015 C01AA02 BOSTON
015 C02AA02 MA
015 C03AA02 02109
015 E04AA02 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 54
019 C00AA00 STRONGFUND
020 A000001 W.H. REAVES & COMPANY, INC.
020 C000001 489
020 A000002 MORGAN STANLEY, DEAN WITTER & COMPANY
<PAGE> PAGE 3
020 C000002 184
020 A000003 GOLDMAN, SACHS & COMPANY
020 C000003 158
020 A000004 SALOMON SMITH BARNEY,INC.
020 C000004 128
020 A000005 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
020 C000005 119
020 A000006 SANFORD C. BERNSTEIN & COMPANY, INC.
020 C000006 103
020 A000007 LEHMAN BROTHERS, INC.
020 C000007 101
020 A000008 DEUTSCHE BANK - ALEX BROWN
020 C000008 95
020 A000009 BEAR STEARNS & COMPANY, INC.
020 C000009 89
020 A000010 STROME, SUSSKIND SECURITIES LP
020 C000010 88
021 000000 2067
022 A000001 BARCLAYS CAPITAL, INC.
022 C000001 819800
022 D000001 0
022 A000002 ABN-AMRO, INC.
022 C000002 555600
022 D000002 0
022 A000003 ELAN INVESTMENT SERVICES, INC.
022 C000003 251449
022 D000003 252407
022 A000004 GOLDMAN, SACHS & COMPANY
022 C000004 271993
022 D000004 17824
022 A000005 MORGAN STANLEY, DEAN WITTER & COMPANY
022 C000005 21891
022 D000005 14769
022 A000006 LEHMAN BROTHERS, INC.
022 C000006 17952
022 D000006 15131
022 A000007 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
022 C000007 20934
022 D000007 4639
022 A000008 SALOMON SMITH BARNEY, INC.
022 C000008 13841
022 D000008 9017
022 A000009 CREDIT SUISSE FIRST BOSTON CORPORATION
022 C000009 4632
022 D000009 7755
022 A000010 BEAR, STEARNS & COMPANY, INC.
022 C000010 6473
022 D000010 1865
023 C000000 2015531
023 D000000 329828
026 A000000 N
<PAGE> PAGE 4
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 Y
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
029 00AA00 N
030 A00AA00 0
030 B00AA00 0.00
030 C00AA00 0.00
031 A00AA00 0
031 B00AA00 0
032 00AA00 0
033 00AA00 0
034 00AA00 N
035 00AA00 0
036 B00AA00 0
037 00AA00 N
038 00AA00 0
039 00AA00 Y
040 00AA00 N
042 A00AA00 0
042 B00AA00 0
042 C00AA00 0
042 D00AA00 0
042 E00AA00 0
042 F00AA00 0
042 G00AA00 0
042 H00AA00 0
043 00AA00 0
044 00AA00 0
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 Y
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 Y
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
062 A00AA00 N
062 B00AA00 0.0
<PAGE> PAGE 5
062 C00AA00 0.0
062 D00AA00 0.0
062 E00AA00 0.0
062 F00AA00 0.0
062 G00AA00 0.0
062 H00AA00 0.0
062 I00AA00 0.0
062 J00AA00 0.0
062 K00AA00 0.0
062 L00AA00 0.0
062 M00AA00 0.0
062 N00AA00 0.0
062 O00AA00 0.0
062 P00AA00 0.0
062 Q00AA00 0.0
062 R00AA00 0.0
063 A00AA00 0
063 B00AA00 0.0
066 A00AA00 Y
066 B00AA00 N
066 C00AA00 N
066 D00AA00 N
066 E00AA00 Y
066 F00AA00 N
066 G00AA00 N
067 00AA00 N
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 P000000 N
077 Q010000 N
077 Q020000 N
077 Q030000 N
078 000000 N
080 A00AA00 NATIONAL UNION FIRE INSURANCE COMPANY
080 B00AA00 GREAT AMERICAN INSURANCE COMPANIES
080 C00AA00 125000
<PAGE> PAGE 6
081 A00AA00 Y
081 B00AA00 48
082 A00AA00 Y
082 B00AA00 100
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
008 A000101 STRONG CAPITAL MANAGEMENT, INC.
008 B000101 A
008 C000101 801-10724
008 D010101 MILWAUKEE
008 D020101 WI
008 D030101 53201
008 D040101 2936
008 A000102 W.H. REAVES & COMPANY, INC.
008 B000102 S
008 C000102 801-13457
008 D010102 JERSEY CITY
008 D020102 NJ
008 D030102 07302
024 000100 N
025 D000101 0
025 D000102 0
025 D000103 0
025 D000104 0
025 D000105 0
025 D000106 0
025 D000107 0
025 D000108 0
028 A010100 6020
028 A020100 0
028 A030100 0
028 A040100 5862
028 B010100 6329
028 B020100 1413
028 B030100 0
<PAGE> PAGE 7
028 B040100 7237
028 C010100 5795
028 C020100 0
028 C030100 0
028 C040100 4785
028 D010100 10667
028 D020100 0
028 D030100 0
028 D040100 5983
028 E010100 4355
028 E020100 1544
028 E030100 0
028 E040100 9680
028 F010100 3184
028 F020100 0
028 F030100 0
028 F040100 7118
028 G010100 36350
028 G020100 2957
028 G030100 0
028 G040100 40665
028 H000100 0
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.750
048 A010100 0
048 A020100 0.000
048 B010100 0
048 B020100 0.000
048 C010100 0
048 C020100 0.000
048 D010100 0
048 D020100 0.000
048 E010100 0
048 E020100 0.000
048 F010100 0
048 F020100 0.000
048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 0
048 K020100 0.000
049 000100 N
050 000100 N
051 000100 N
<PAGE> PAGE 8
052 000100 N
053 A000100 N
055 A000100 N
055 B000100 N
056 000100 Y
057 000100 N
058 A000100 N
059 000100 Y
060 A000100 N
060 B000100 N
061 000100 250
070 A010100 Y
070 A020100 Y
070 B010100 Y
070 B020100 N
070 C010100 Y
070 C020100 N
070 D010100 Y
070 D020100 N
070 E010100 Y
070 E020100 N
070 F010100 Y
070 F020100 N
070 G010100 Y
070 G020100 N
070 H010100 Y
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 N
070 L010100 Y
070 L020100 Y
070 M010100 Y
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 Y
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 Y
070 R020100 N
071 A000100 181943
071 B000100 172030
071 C000100 229625
071 D000100 75
<PAGE> PAGE 9
072 A000100 12
072 B000100 564
072 C000100 7332
072 D000100 0
072 E000100 0
072 F000100 1822
072 G000100 0
072 H000100 0
072 I000100 467
072 J000100 26
072 K000100 0
072 L000100 87
072 M000100 3
072 N000100 39
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 20
072 S000100 4
072 T000100 0
072 U000100 0
072 V000100 0
072 W000100 8
072 X000100 2476
072 Y000100 0
072 Z000100 5420
072AA000100 28930
072BB000100 6206
072CC010100 0
072CC020100 2801
072DD010100 5845
072DD020100 0
072EE000100 8562
073 A010100 0.4067
073 A020100 0.0000
073 B000100 0.6136
073 C000100 0.0000
074 A000100 0
074 B000100 9700
074 C000100 1387
074 D000100 0
074 E000100 0
074 F000100 230932
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 3706
074 K000100 0
074 L000100 521
074 M000100 10
074 N000100 246256
<PAGE> PAGE 10
074 O000100 1446
074 P000100 11
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 68
074 S000100 0
074 T000100 244731
074 U010100 14242
074 U020100 0
074 V010100 17.18
074 V020100 0.00
074 W000100 0.0000
074 X000100 12895
074 Y000100 0
075 A000100 0
075 B000100 241627
076 000100 0.00
008 A000201 STRONG CAPITAL MANAGEMENT, INC.
008 B000201 A
008 C000201 801-10724
008 D010201 MILWAUKEE
008 D020201 WI
008 D030201 53201
008 D040201 2936
024 000200 Y
025 A000201 MORGAN STANLEY, DEAN WITTER & COMPANY
025 C000201 E
025 D000201 496
025 D000202 0
025 D000203 0
025 D000204 0
025 D000205 0
025 D000206 0
025 D000207 0
025 D000208 0
028 A010200 4947
028 A020200 0
028 A030200 0
028 A040200 3497
028 B010200 3936
028 B020200 173
028 B030200 0
028 B040200 5026
028 C010200 3565
028 C020200 0
028 C030200 0
028 C040200 5865
028 D010200 4679
028 D020200 0
<PAGE> PAGE 11
028 D030200 0
028 D040200 5939
028 E010200 4086
028 E020200 140
028 E030200 0
028 E040200 9828
028 F010200 5702
028 F020200 0
028 F030200 0
028 F040200 7696
028 G010200 26915
028 G020200 313
028 G030200 0
028 G040200 37851
028 H000200 0
045 000200 Y
046 000200 N
047 000200 Y
048 000200 0.800
048 A010200 0
048 A020200 0.000
048 B010200 0
048 B020200 0.000
048 C010200 0
048 C020200 0.000
048 D010200 0
048 D020200 0.000
048 E010200 0
048 E020200 0.000
048 F010200 0
048 F020200 0.000
048 G010200 0
048 G020200 0.000
048 H010200 0
048 H020200 0.000
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 0
048 K020200 0.000
049 000200 N
050 000200 N
051 000200 N
052 000200 N
053 A000200 N
055 A000200 Y
055 B000200 N
056 000200 Y
057 000200 N
058 A000200 N
<PAGE> PAGE 12
059 000200 Y
060 A000200 Y
060 B000200 Y
061 000200 250
070 A010200 Y
070 A020200 Y
070 B010200 Y
070 B020200 Y
070 C010200 Y
070 C020200 N
070 D010200 Y
070 D020200 N
070 E010200 Y
070 E020200 N
070 F010200 Y
070 F020200 N
070 G010200 Y
070 G020200 N
070 H010200 Y
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
070 K020200 N
070 L010200 Y
070 L020200 Y
070 M010200 Y
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 Y
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 Y
070 R020200 N
071 A000200 58898
071 B000200 79063
071 C000200 182201
071 D000200 32
072 A000200 12
072 B000200 70
072 C000200 2472
072 D000200 0
072 E000200 0
072 F000200 1472
072 G000200 0
<PAGE> PAGE 13
072 H000200 0
072 I000200 355
072 J000200 9
072 K000200 0
072 L000200 67
072 M000200 3
072 N000200 31
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 20
072 S000200 2
072 T000200 0
072 U000200 10
072 V000200 0
072 W000200 6
072 X000200 1975
072 Y000200 0
072 Z000200 567
072AA000200 9168
072BB000200 4046
072CC010200 27461
072CC020200 0
072DD010200 639
072DD020200 0
072EE000200 0
073 A010200 0.0679
073 A020200 0.0000
073 B000200 0.0000
073 C000200 0.0000
074 A000200 0
074 B000200 2300
074 C000200 482
074 D000200 411
074 E000200 4634
074 F000200 174174
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 643
074 K000200 0
074 L000200 188
074 M000200 31
074 N000200 182863
074 O000200 1049
074 P000200 20
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 16
<PAGE> PAGE 14
074 S000200 0
074 T000200 181778
074 U010200 8832
074 U020200 0
074 V010200 20.58
074 V020200 0.00
074 W000200 0.0000
074 X000200 10035
074 Y000200 0
075 A000200 0
075 B000200 183305
076 000200 0.00
008 A000301 STRONG CAPITAL MANAGEMENT, INC.
008 B000301 A
008 C000301 801-10724
008 D010301 MILWAUKEE
008 D020301 WI
008 D030301 53201
008 D040301 2936
024 000300 Y
025 A000301 MORGAN STANLEY, DEAN WITTER & COMPANY
025 C000301 E
025 D000301 7115
025 D000302 0
025 D000303 0
025 D000304 0
025 D000305 0
025 D000306 0
025 D000307 0
025 D000308 0
028 A010300 32316
028 A020300 0
028 A030300 0
028 A040300 9474
028 B010300 26180
028 B020300 0
028 B030300 0
028 B040300 11237
028 C010300 43533
028 C020300 0
028 C030300 0
028 C040300 17412
028 D010300 42745
028 D020300 0
028 D030300 0
028 D040300 13793
028 E010300 27998
028 E020300 0
028 E030300 0
028 E040300 18993
028 F010300 47700
<PAGE> PAGE 15
028 F020300 0
028 F030300 0
028 F040300 23701
028 G010300 220472
028 G020300 0
028 G030300 0
028 G040300 94610
028 H000300 0
045 000300 Y
046 000300 N
047 000300 Y
048 000300 0.800
048 A010300 0
048 A020300 0.000
048 B010300 0
048 B020300 0.000
048 C010300 0
048 C020300 0.000
048 D010300 0
048 D020300 0.000
048 E010300 0
048 E020300 0.000
048 F010300 0
048 F020300 0.000
048 G010300 0
048 G020300 0.000
048 H010300 0
048 H020300 0.000
048 I010300 0
048 I020300 0.000
048 J010300 0
048 J020300 0.000
048 K010300 0
048 K020300 0.000
049 000300 N
050 000300 N
051 000300 N
052 000300 N
053 A000300 N
055 A000300 Y
055 B000300 N
056 000300 Y
057 000300 N
058 A000300 N
059 000300 Y
060 A000300 Y
060 B000300 Y
061 000300 250
070 A010300 Y
070 A020300 Y
070 B010300 Y
<PAGE> PAGE 16
070 B020300 Y
070 C010300 Y
070 C020300 N
070 D010300 Y
070 D020300 N
070 E010300 Y
070 E020300 N
070 F010300 Y
070 F020300 N
070 G010300 Y
070 G020300 N
070 H010300 Y
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 Y
070 K020300 N
070 L010300 Y
070 L020300 Y
070 M010300 Y
070 M020300 N
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 Y
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 Y
070 R020300 N
071 A000300 622946
071 B000300 334286
071 C000300 639739
071 D000300 52
072 A000300 12
072 B000300 194
072 C000300 6107
072 D000300 0
072 E000300 0
072 F000300 5169
072 G000300 0
072 H000300 0
072 I000300 1530
072 J000300 30
072 K000300 0
072 L000300 326
072 M000300 5
072 N000300 113
<PAGE> PAGE 17
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 25
072 S000300 6
072 T000300 0
072 U000300 9
072 V000300 0
072 W000300 20
072 X000300 7233
072 Y000300 0
072 Z000300 -932
072AA000300 31169
072BB000300 25395
072CC010300 162221
072CC020300 0
072DD010300 59
072DD020300 0
072EE000300 0
073 A010300 0.0027
073 A020300 0.0000
073 B000300 0.0000
073 C000300 0.0000
074 A000300 0
074 B000300 5800
074 C000300 576
074 D000300 0
074 E000300 0
074 F000300 854726
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 11911
074 K000300 0
074 L000300 1038
074 M000300 26
074 N000300 874077
074 O000300 12347
074 P000300 39
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 229
074 S000300 0
074 T000300 861462
074 U010300 34099
074 U020300 0
074 V010300 25.26
074 V020300 0.00
074 W000300 0.0000
<PAGE> PAGE 18
074 X000300 64592
074 Y000300 0
075 A000300 0
075 B000300 641501
076 000300 0.00
008 A000401 STRONG CAPITAL MANAGEMENT, INC.
008 B000401 A
008 C000401 801-10724
008 D010401 MILWAUKEE
008 D020401 WI
008 D030401 53201
008 D040401 2936
024 000400 Y
025 A000401 MORGAN STANLEY, DEAN WITTER & COMPANY
025 C000401 E
025 D000401 1875
025 A000402 GOLDMAN, SACHS & COMPANY
025 C000402 E
025 D000402 937
025 A000403 MERRILL LYNCH & COMPANY, INC.
025 C000403 E
025 D000403 864
025 D000404 0
025 D000405 0
025 D000406 0
025 D000407 0
025 D000408 0
028 A010400 30228
028 A020400 0
028 A030400 0
028 A040400 20523
028 B010400 21660
028 B020400 0
028 B030400 0
028 B040400 15175
028 C010400 26686
028 C020400 0
028 C030400 0
028 C040400 18945
028 D010400 20974
028 D020400 0
028 D030400 0
028 D040400 18879
028 E010400 16656
028 E020400 0
028 E030400 0
028 E040400 15817
028 F010400 17392
028 F020400 0
028 F030400 0
028 F040400 19072
<PAGE> PAGE 19
028 G010400 133596
028 G020400 0
028 G030400 0
028 G040400 108411
028 H000400 0
045 000400 Y
046 000400 N
047 000400 Y
048 000400 0.750
048 A010400 0
048 A020400 0.000
048 B010400 0
048 B020400 0.000
048 C010400 0
048 C020400 0.000
048 D010400 0
048 D020400 0.000
048 E010400 0
048 E020400 0.000
048 F010400 0
048 F020400 0.000
048 G010400 0
048 G020400 0.000
048 H010400 0
048 H020400 0.000
048 I010400 0
048 I020400 0.000
048 J010400 0
048 J020400 0.000
048 K010400 0
048 K020400 0.000
049 000400 N
050 000400 N
051 000400 N
052 000400 N
053 A000400 N
055 A000400 N
055 B000400 N
056 000400 Y
057 000400 N
058 A000400 N
059 000400 Y
060 A000400 Y
060 B000400 Y
061 000400 250
070 A010400 Y
070 A020400 Y
070 B010400 Y
070 B020400 N
070 C010400 Y
070 C020400 N
<PAGE> PAGE 20
070 D010400 Y
070 D020400 N
070 E010400 Y
070 E020400 N
070 F010400 Y
070 F020400 N
070 G010400 Y
070 G020400 N
070 H010400 Y
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
070 K020400 N
070 L010400 Y
070 L020400 Y
070 M010400 Y
070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 Y
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 Y
070 R020400 N
071 A000400 565947
071 B000400 251799
071 C000400 333913
071 D000400 75
072 A000400 12
072 B000400 332
072 C000400 2666
072 D000400 0
072 E000400 0
072 F000400 2605
072 G000400 0
072 H000400 0
072 I000400 939
072 J000400 71
072 K000400 0
072 L000400 231
072 M000400 2
072 N000400 129
072 O000400 0
072 P000400 0
072 Q000400 0
<PAGE> PAGE 21
072 R000400 20
072 S000400 4
072 T000400 0
072 U000400 0
072 V000400 0
072 W000400 8
072 X000400 4009
072 Y000400 0
072 Z000400 -1011
072AA000400 19019
072BB000400 20798
072CC010400 70997
072CC020400 0
072DD010400 6
072DD020400 0
072EE000400 0
073 A010400 0.0006
073 A020400 0.0000
073 B000400 0.0000
073 C000400 0.0000
074 A000400 0
074 B000400 3700
074 C000400 746
074 D000400 0
074 E000400 0
074 F000400 472502
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 7705
074 K000400 0
074 L000400 369
074 M000400 10
074 N000400 485032
074 O000400 0
074 P000400 13
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 179
074 S000400 0
074 T000400 484840
074 U010400 26793
074 U020400 0
074 V010400 18.10
074 V020400 0.00
074 W000400 0.0000
074 X000400 52880
074 Y000400 0
075 A000400 0
<PAGE> PAGE 22
075 B000400 340440
076 000400 0.00
008 A000501 STRONG CAPITAL MANAGEMENT, INC.
008 B000501 A
008 C000501 801-10724
008 D010501 MILWAUKEE
008 D020501 WI
008 D030501 53201
008 D040501 2936
008 A000502 SCARBOROUGH INVESTMENT ADVISORS LLC
008 B000502 S
008 C000502 801-52127
008 D010502 NEW YORK
008 D020502 NY
008 D030502 10022
024 000500 N
025 D000501 0
025 D000502 0
025 D000503 0
025 D000504 0
025 D000505 0
025 D000506 0
025 D000507 0
025 D000508 0
028 A010500 717
028 A020500 0
028 A030500 0
028 A040500 1147
028 B010500 256
028 B020500 0
028 B030500 0
028 B040500 338
028 C010500 327
028 C020500 0
028 C030500 0
028 C040500 211
028 D010500 804
028 D020500 0
028 D030500 0
028 D040500 563
028 E010500 403
028 E020500 0
028 E030500 0
028 E040500 616
028 F010500 125
028 F020500 0
028 F030500 0
028 F040500 151
028 G010500 2632
028 G020500 0
028 G030500 0
<PAGE> PAGE 23
028 G040500 3026
028 H000500 0
045 000500 Y
046 000500 N
047 000500 Y
048 000500 1.000
048 A010500 0
048 A020500 0.000
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
049 000500 N
050 000500 N
051 000500 N
052 000500 N
053 A000500 Y
053 B000500 Y
053 C000500 N
055 A000500 N
055 B000500 N
056 000500 Y
057 000500 N
058 A000500 N
059 000500 Y
060 A000500 Y
060 B000500 Y
061 000500 250
070 A010500 Y
070 A020500 N
070 B010500 Y
070 B020500 N
070 C010500 Y
070 C020500 N
070 D010500 Y
<PAGE> PAGE 24
070 D020500 N
070 E010500 Y
070 E020500 N
070 F010500 Y
070 F020500 N
070 G010500 Y
070 G020500 N
070 H010500 Y
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 Y
070 J020500 N
070 K010500 Y
070 K020500 N
070 L010500 Y
070 L020500 Y
070 M010500 Y
070 M020500 N
070 N010500 Y
070 N020500 N
070 O010500 Y
070 O020500 N
070 P010500 Y
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 Y
070 R020500 N
071 A000500 3505
071 B000500 2905
071 C000500 5240
071 D000500 55
072 A000500 12
072 B000500 21
072 C000500 79
072 D000500 0
072 E000500 0
072 F000500 57
072 G000500 0
072 H000500 0
072 I000500 14
072 J000500 1
072 K000500 0
072 L000500 2
072 M000500 2
072 N000500 27
072 O000500 0
072 P000500 0
072 Q000500 0
072 R000500 8
<PAGE> PAGE 25
072 S000500 1
072 T000500 0
072 U000500 2
072 V000500 0
072 W000500 1
072 X000500 115
072 Y000500 0
072 Z000500 -15
072AA000500 210
072BB000500 675
072CC010500 1071
072CC020500 0
072DD010500 8
072DD020500 0
072EE000500 0
073 A010500 0.0101
073 A020500 0.0000
073 B000500 0.0000
073 C000500 0.0000
074 A000500 0
074 B000500 0
074 C000500 321
074 D000500 0
074 E000500 0
074 F000500 5776
074 G000500 0
074 H000500 0
074 I000500 0
074 J000500 0
074 K000500 0
074 L000500 3
074 M000500 18
074 N000500 6118
074 O000500 0
074 P000500 4
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
074 R040500 7
074 S000500 0
074 T000500 6107
074 U010500 709
074 U020500 0
074 V010500 8.62
074 V020500 0.00
074 W000500 0.0000
074 X000500 560
074 Y000500 0
075 A000500 0
075 B000500 5666
<PAGE> PAGE 26
076 000500 0.00
SIGNATURE JOHN WIDMER
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000901539
<NAME> Strong Conservative Equity Funds, Inc.
<SERIES>
<NUMBER> 1
<NAME> Strong American Utilities Fund
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-mos
<FISCAL-YEAR-END> Oct-31-1999
<PERIOD-START> Nov-01-1998
<PERIOD-END> Oct-31-1999
<INVESTMENTS-AT-COST> 199,800
<INVESTMENTS-AT-VALUE> 242,019
<RECEIVABLES> 4,227
<ASSETS-OTHER> 10
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 246,256
<PAYABLE-FOR-SECURITIES> 1,446
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 79
<TOTAL-LIABILITIES> 1,525
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 180,248
<SHARES-COMMON-STOCK> 14,242
<SHARES-COMMON-PRIOR> 13,137
<ACCUMULATED-NII-CURRENT> 113
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 22,151
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 42,219
<NET-ASSETS> 244,731
<DIVIDEND-INCOME> 7,332
<INTEREST-INCOME> 564
<OTHER-INCOME> 0
<EXPENSES-NET> (2,476)
<NET-INVESTMENT-INCOME> 5,420
<REALIZED-GAINS-CURRENT> 22,724
<APPREC-INCREASE-CURRENT> (2,801)
<NET-CHANGE-FROM-OPS> 25,343
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (5,845)
<DISTRIBUTIONS-OF-GAINS> (8,562)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6,418
<NUMBER-OF-SHARES-REDEEMED> (6,123)
<SHARES-REINVESTED> 810
<NET-CHANGE-IN-ASSETS> 30,466
<ACCUMULATED-NII-PRIOR> 539
<ACCUMULATED-GAINS-PRIOR> 7,989
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,822
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,476
<AVERAGE-NET-ASSETS> 243,639
<PER-SHARE-NAV-BEGIN> 16.31
<PER-SHARE-NII> 0.37
<PER-SHARE-GAIN-APPREC> 1.52
<PER-SHARE-DIVIDEND> (0.41)
<PER-SHARE-DISTRIBUTIONS> (0.61)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 17.18
<EXPENSE-RATIO> 1.0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000901539
<NAME> Strong Conservative Equity Funds, Inc.
<SERIES>
<NUMBER> 4
<NAME> Strong Blue Chip 100 Fund
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> Year
<FISCAL-YEAR-END> Oct-31-1999
<PERIOD-START> Nov-01-1998
<PERIOD-END> Oct-31-1999
<INVESTMENTS-AT-COST> 398754
<INVESTMENTS-AT-VALUE> 476948
<RECEIVABLES> 8074
<ASSETS-OTHER> 10
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 485032
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 192
<TOTAL-LIABILITIES> 192
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 410256
<SHARES-COMMON-STOCK> 26793
<SHARES-COMMON-PRIOR> 6792
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (3,610)
<ACCUM-APPREC-OR-DEPREC> 78,194
<NET-ASSETS> 484840
<DIVIDEND-INCOME> 2666
<INTEREST-INCOME> 332
<OTHER-INCOME> 0
<EXPENSES-NET> (4,009)
<NET-INVESTMENT-INCOME> (1,011)
<REALIZED-GAINS-CURRENT> (1,779)
<APPREC-INCREASE-CURRENT> 70997
<NET-CHANGE-FROM-OPS> 68207
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (6)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 30780
<NUMBER-OF-SHARES-REDEEMED> (10,779)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 394932
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (1)
<OVERDIST-NET-GAINS-PRIOR> (1,831)
<GROSS-ADVISORY-FEES> 2605
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,009
<AVERAGE-NET-ASSETS> 348469
<PER-SHARE-NAV-BEGIN> 13.24
<PER-SHARE-NII> (0.04)
<PER-SHARE-GAIN-APPREC> 4.90
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 18.10
<EXPENSE-RATIO> 1.2
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000901539
<NAME> Strong Conservative Equity Funds, Inc.
<SERIES>
<NUMBER> 2
<NAME> Strong Equity Income Fund
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> Year
<FISCAL-YEAR-END> Oct-31-1999
<PERIOD-START> Nov-01-1998
<PERIOD-END> Oct-31-1999
<INVESTMENTS-AT-COST> 119088
<INVESTMENTS-AT-VALUE> 182001
<RECEIVABLES> 831
<ASSETS-OTHER> 31
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 182863
<PAYABLE-FOR-SECURITIES> 1049
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 36
<TOTAL-LIABILITIES> 1085
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 114632
<SHARES-COMMON-STOCK> 8832
<SHARES-COMMON-PRIOR> 9926
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 4233
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 62913
<NET-ASSETS> 181778
<DIVIDEND-INCOME> 2472
<INTEREST-INCOME> 70
<OTHER-INCOME> 0
<EXPENSES-NET> (1975)
<NET-INVESTMENT-INCOME> 567
<REALIZED-GAINS-CURRENT> 5122
<APPREC-INCREASE-CURRENT> 27461
<NET-CHANGE-FROM-OPS> 33150
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (639)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3277
<NUMBER-OF-SHARES-REDEEMED> (4402)
<SHARES-REINVESTED> 31
<NET-CHANGE-IN-ASSETS> 11022
<ACCUMULATED-NII-PRIOR> 70
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 897
<GROSS-ADVISORY-FEES> 1472
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1975
<AVERAGE-NET-ASSETS> 184511
<PER-SHARE-NAV-BEGIN> 17.20
<PER-SHARE-NII> 0.06
<PER-SHARE-GAIN-APPREC> 3.39
<PER-SHARE-DIVIDEND> (0.07)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 20.58
<EXPENSE-RATIO> 1.1
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000901539
<NAME> Strong Conservative Equity Funds, Inc.
<SERIES>
<NUMBER> 3
<NAME> Strong Growth and Income Fund
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-mos
<FISCAL-YEAR-END> Oct-31-1999
<PERIOD-START> Nov-01-1998
<PERIOD-END> Oct-31-1999
<INVESTMENTS-AT-COST> 623106
<INVESTMENTS-AT-VALUE> 861102
<RECEIVABLES> 12949
<ASSETS-OTHER> 26
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 874077
<PAYABLE-FOR-SECURITIES> 12347
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 268
<TOTAL-LIABILITIES> 12615
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 625537
<SHARES-COMMON-STOCK> 34099
<SHARES-COMMON-PRIOR> 21295
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (2,071)
<ACCUM-APPREC-OR-DEPREC> 237996
<NET-ASSETS> 861462
<DIVIDEND-INCOME> 6107
<INTEREST-INCOME> 194
<OTHER-INCOME> 0
<EXPENSES-NET> (7233)
<NET-INVESTMENT-INCOME> (932)
<REALIZED-GAINS-CURRENT> 5774
<APPREC-INCREASE-CURRENT> 162221
<NET-CHANGE-FROM-OPS> 167063
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (59)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 21496
<NUMBER-OF-SHARES-REDEEMED> (8,695)
<SHARES-REINVESTED> 3
<NET-CHANGE-IN-ASSETS> 462574
<ACCUMULATED-NII-PRIOR> 19
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (7,845)
<GROSS-ADVISORY-FEES> 5169
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 7233
<AVERAGE-NET-ASSETS> 648218
<PER-SHARE-NAV-BEGIN> 18.73
<PER-SHARE-NII> (0.03)
<PER-SHARE-GAIN-APPREC> 6.56
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 25.26
<EXPENSE-RATIO> 1.1
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000901539
<NAME> Strong Conservative Equity Funds, Inc.
<SERIES>
<NUMBER> 5
<NAME> Strong Limited Resources Fund
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> Year
<FISCAL-YEAR-END> Oct-31-1999
<PERIOD-START> Nov-01-1998
<PERIOD-END> Oct-31-1999
<INVESTMENTS-AT-COST> 5,674
<INVESTMENTS-AT-VALUE> 6,097
<RECEIVABLES> 3
<ASSETS-OTHER> 18
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 6,118
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 11
<TOTAL-LIABILITIES> 11
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 6,817
<SHARES-COMMON-STOCK> 709
<SHARES-COMMON-PRIOR> 635
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (1,133)
<ACCUM-APPREC-OR-DEPREC> 423
<NET-ASSETS> 6,107
<DIVIDEND-INCOME> 79
<INTEREST-INCOME> 21
<OTHER-INCOME> 0
<EXPENSES-NET> (115)
<NET-INVESTMENT-INCOME> (15)
<REALIZED-GAINS-CURRENT> (465)
<APPREC-INCREASE-CURRENT> 1,071
<NET-CHANGE-FROM-OPS> 606
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (8)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 755
<NUMBER-OF-SHARES-REDEEMED> (682)
<SHARES-REINVESTED> 1
<NET-CHANGE-IN-ASSETS> 1,161
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (8)
<OVERDIST-NET-GAINS-PRIOR> (972)
<GROSS-ADVISORY-FEES> 57
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 115
<AVERAGE-NET-ASSETS> 5,734
<PER-SHARE-NAV-BEGIN> 7.79
<PER-SHARE-NII> (0.02)
<PER-SHARE-GAIN-APPREC> 0.86
<PER-SHARE-DIVIDEND> (0.01)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 8.62
<EXPENSE-RATIO> 2.0
</TABLE>
To the Shareholders and Board of Directors of the
Strong Conservative Equity Funds, Inc.
In planning and performing our audit of the financial statements of Strong
American Utilities Fund, Strong Blue Chip 100 Fund, Strong Equity Income Fund,
Strong Growth and Income Fund and Strong Limited Resources Fund (five of the
portfolios constituting the Strong Conservative Equity Funds, Inc., collectively
referred to herein as the "Funds") for the year ended October 31, 1999, we
considered their internal control, including control activities for safeguarding
securities, in order to determine our auditing procedures for the purpose of
expressing our opinion on the financial statements and to comply with the
requirements of Form N-SAR, not to provide assurance on internal control.
The management of the Funds is responsible for establishing and maintaining
internal control. In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and related costs of
controls. Generally, controls that are relevant to an audit pertain to the
entity's objective of preparing financial statements for external purposes that
are fairly presented in conformity with generally accepted accounting
principles. Those controls include the safeguarding of assets against
unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, error or fraud may occur
and not be detected. Also, projection of any evaluation of internal control to
future periods is subject to the risk that controls may become inadequate
because of changes in conditions or that the effectiveness of their design and
operation may deteriorate.
Our consideration of internal control would not necessarily disclose all matters
in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation of one or more
of the internal control components does not reduce to a relatively low level the
risk that misstatements caused by error or fraud in amounts that would be
material in relation to the financial statements being audited may occur and not
be detected within a timely period by employees in the normal course of
performing their assigned functions. However, we noted no matters involving
internal control and its operation, including controls over safeguarding
securities, that we consider to be material weaknesses as defined above as of
October 31, 1999.
This report is intended solely for the information and use of management, the
Board of Directors of the Funds and the Securities and Exchange Commission and
is not intended to be and should not be used by anyone other than these
specified parties.
PRICEWATERHOUSECOOPERS LLP
Milwaukee, Wisconsin
December 6, 1999
