PRINCIPAL ASSET ALLOCATION FUND INC
NSAR-A, 1995-08-28
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<PAGE>      PAGE  1
000 A000000 06/30/95
000 C000000 915758
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000 F000000 Y
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000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 PRINCIPAL ASSET ALLOCATION FUND, INC.
001 B000000 811-8178
001 C000000 5152475476
002 A000000 THE PRINCIPAL FINANCIAL GROUP
002 B000000 DES MOINES
002 C000000 IA
002 D010000 50392
002 D020000 0200
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007 C011000 10
020 A000001 INSTINET CO.
020 B000001 13-2596491
020 C000001      4
020 A000002 JAMES CAPEL, INC.
020 B000002 52-1348224
020 C000002      1
020 A000003 WEEDEN & CO.
020 B000003 13-3287114
020 C000003      1
020 A000004 ROBINSON HUMPHRIES
020 B000004 58-1472560
020 C000004      1
020 A000005 BERNSTEIN, SANFORD
020 B000005 13-2625074
020 C000005      1
020 A000006 GOLDMAN SACHS, CO.
020 B000006 13-5108880
020 C000006      1
<PAGE>      PAGE  2
020 A000007 LEHMAN BROTHERS
020 B000007 13-2501865
020 C000007      1
020 A000008 MORGAN, J. P. SECURITIES
020 B000008 13-3224016
020 C000008      1
020 A000009 CIRUS J. LAWRENCE
020 B000009 13-2730828
020 C000009      1
020 A000010 COWAN & CO.
020 B000010 13-5616116
020 C000010      1
021  000000       16
022 A000001 CHEMICAL BANK
022 B000001 13-4994650
022 C000001      1107
022 D000001         0
022 A000002 SALOMON BROTHERS
022 B000002 13-3082694
022 C000002       392
022 D000002       398
022 A000003 GRANT CHESTER
022 B000003 13-3502273
022 C000003       513
022 D000003       248
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022 D000004       259
022 A000005 LEHMAN BROTHERS
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022 C000005       438
022 D000005        64
022 A000006 LAZARD FRERES
022 B000006 13-5545100
022 C000006       197
022 D000006       212
022 A000007 BEAR STEARNS & CO.
022 B000007 13-3299429
022 C000007       189
022 D000007       161
022 A000008 MERRILL LYNCH
022 B000008 13-5674085
022 C000008       243
022 D000008        38
022 A000009 DONALDSON, LUFKIN & JENRETTE
022 B000009 13-2741729
022 C000009       224
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022 A000010 ALEX BROWN & SONS
022 B000010 52-0256630
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<PAGE>      PAGE  7
SIGNATURE   A. S. FILEAN                                 
TITLE       V. PRES & SECRETARY 
 


<TABLE> <S> <C>

<ARTICLE> 6
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-END>                               JUN-30-1995
<INVESTMENTS-AT-COST>                       29,175,186
<INVESTMENTS-AT-VALUE>                      31,294,386
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<ASSETS-OTHER>                                       0
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<TOTAL-ASSETS>                              34,472,087
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<TOTAL-LIABILITIES>                             86,619
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    31,485,945
<SHARES-COMMON-STOCK>                        3,143,877
<SHARES-COMMON-PRIOR>                        2,864,202
<ACCUMULATED-NII-CURRENT>                      669,534
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        110,789
<OVERDISTRIBUTION-GAINS>                             0
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<OTHER-INCOME>                                       0
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<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     (30,983)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        287,651
<NUMBER-OF-SHARES-REDEEMED>                   (11,121)
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<ACCUMULATED-NII-PRIOR>                         30,480
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<INTEREST-EXPENSE>                                   0
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<AVERAGE-NET-ASSETS>                        31,408,418
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<PER-SHARE-NII>                                    .22
<PER-SHARE-GAIN-APPREC>                            .94
<PER-SHARE-DIVIDEND>                             (.01)
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<PER-SHARE-NAV-END>                              10.94
<EXPENSE-RATIO>                                    .91
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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