VANGUARD TAX MANAGED FUND INC
NSAR-B, 1995-03-01
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<PAGE>      PAGE  1
000 B000000 12/31/94
000 C000000 0923202
000 D000000 N
000 E000000 F
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 VANGUARD TAX-MANAGED FUND, INC.
001 B000000 811-07175
001 C000000 6106691000
002 A000000 100 VANGUARD BOULEVARD
002 B000000 MALVERN
002 C000000 PA
002 D010000 19355
003  000000 Y
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  3
007 C010100  1
007 C020100 GROWTH AND INCOME PORTFOLIO
007 C030100 N
007 C010200  2
007 C020200 CAPITAL APPRECIATION PORTFOLIO
007 C030200 N
007 C010300  3
007 C020300 BALANCED PORTFOLIO
007 C030300 N
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
010 A00AA01 THE VANGUARD GROUP, INC.
010 B00AA01 801-11953
010 C01AA01 MALVERN
010 C02AA01 PA
010 C03AA01 19355
012 A00AA01 THE VANGUARD GROUP, INC.
012 B00AA01 84-772
012 C01AA01 MALVERN
012 C02AA01 PA
012 C03AA01 19355
013 A00AA01 PRICE WATERHOUSE LLP
013 B01AA01 PHILADELPHIA
013 B02AA01 PA
<PAGE>      PAGE  2
013 B03AA01 19103
015 A00AA01 MORGAN GUARANTY TRUST COMPANY
015 B00AA01 C
015 C01AA01 NEW YORK
015 C02AA01 NY
015 C03AA01 10015
015 E01AA01 X
018  00AA00 Y
019 A00AA00 Y
019 B00AA00   86
019 C00AA00 VANGUARDGR
020 A000001 PAINEWEBBER INCORPORATED
020 B000001 13-2638166
020 C000001     40
020 A000002 INVESTMENT TECHNOLOGY GROUP, INC.
020 B000002 95-4339369
020 C000002      7
020 A000003 CANTOR FITZGERALD & CO.
020 B000003 13-3680184
020 C000003      3
020 A000004 FAHNESTOCK & CO. INC.
020 B000004 13-5657518
020 C000004      3
020 A000005 MORGAN STANLEY & CO., INC.
020 B000005 13-2655998
020 C000005      1
020 A000006 BEAR STEARNS & CO.
020 B000006 13-3299429
020 C000006      1
020 C000007      0
020 C000008      0
020 C000009      0
020 C000010      0
021  000000       55
022 A000001 THE VANGUARD GROUP, INC./POOLED CASH ACCT.
022 B000001 23-1945930
022 C000001    574429
022 D000001         0
022 A000002 TROSTER SINGER
022 B000002 13-5515160
022 C000002     14819
022 D000002         0
022 A000003 HIGH YIELD PORTFOLIO/VANGUARD MUNI BOND FUND
022 B000003 23-2473415
022 C000003      7252
022 D000003      5530
022 A000004 MONEY MARKET PORTFOLIO/VANGUARD MUNI BOND FD
022 B000004 23-2471394
022 C000004      3808
022 D000004      2523
022 A000005 VANGUARD INSTITUTIONAL INDEX FUND
<PAGE>      PAGE  3
022 B000005 23-2601141
022 C000005      3866
022 D000005         0
022 A000006 VANGUARD FLORIDA TAX-FREE FUND
022 B000006 23-2687102
022 C000006      1940
022 D000006      1785
022 A000007 INTERMEDIATE-TERM PORTFOLIO/VANGUARD MUNI BD
022 B000007 23-2471389
022 C000007      1875
022 D000007      1735
022 A000008 LIMITED-TERM PORTFOLIO/VANGUARD MUNI BOND FD
022 B000008 23-2471390
022 C000008      1750
022 D000008      1505
022 A000009 BEAR STEARNS & CO.
022 B000009 13-3299429
022 C000009      2577
022 D000009         0
022 A000010 BERNARD L. MADOFF
022 B000010 13-1997126
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<PAGE>      PAGE  9
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<PAGE>      PAGE  10
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SIGNATURE   GARY P. SOURA                                
TITLE       ASST. VICE-PRESIDENT
 


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<NAME> VANGUARD TAX-MANAGED FUND, INC.
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