VANGUARD TAX MANAGED FUND INC
NSAR-A, 1995-08-28
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<PAGE>      PAGE  1
000 A000000 06/30/95
000 C000000 0923202
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
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 N
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
018  00AA00 Y
019 A00AA00 Y
019 B00AA00   90
019 C00AA00 VANGUARDGR
020 A000001 PAINEWEBBER INCORPORATED
020 B000001 13-2638166
020 C000001     23
020 A000002 CANTOR FITZGERALD & CO.
020 B000002 13-3680184
020 C000002      7
020 A000003 MORGAN STANLEY & CO., INC.
020 B000003 13-2655998
020 C000003      6
<PAGE>      PAGE  2
020 A000004 INVESTMENT TECHNOLOGY GROUP, INC.
020 B000004 95-4339369
020 C000004      3
020 A000005 FAHNESTOCK & CO. INC.
020 B000005 13-5657518
020 C000005      3
020 A000006 INSTINET CORPORATION
020 B000006 13-3443395
020 C000006      1
020 A000007 BEAR STEARNS & CO.
020 B000007 13-3299429
020 C000007      1
020 C000008      0
020 C000009      0
020 C000010      0
021  000000       44
022 A000001 THE VANGUARD GROUP, INC./POOLED CASH ACCT.
022 B000001 23-1945930
022 C000001    404180
022 D000001         0
022 A000002 TROSTER SINGER
022 B000002 13-5515160
022 C000002     13912
022 D000002         1
022 A000003 BALANCED PORTFOLIO/VANGUARD TAX-MANAGED FUND
022 B000003 23-2764164
022 C000003      2655
022 D000003      2710
022 A000004 BERNARD L. MADOFF
022 B000004 13-1997126
022 C000004      4178
022 D000004        98
022 A000005 SHORT-TERM PORTFOLIO/VANGUARD MUNI BOND FUND
022 B000005 23-2022170
022 C000005      2095
022 D000005      1730
022 A000006 VANGUARD FLORIDA TAX-FREE FUND
022 B000006 23-2687102
022 C000006      1795
022 D000006      1560
022 A000007 LONG-TERM PORTFOLIO/VANGUARD MUNI BOND FUND
022 B000007 23-2471391
022 C000007      1783
022 D000007      1100
022 A000008 INSURED LONG-TERM PORTFOLIO/VANGUARD MUNI BD
022 B000008 23-2471392
022 C000008       970
022 D000008      1165
022 A000009 MONEY MARKET PORTFOLIO/VANGUARD MUNI BOND FD
022 B000009 23-2471394
022 C000009      1455
<PAGE>      PAGE  3
022 D000009        20
022 A000010 INTERMEDIATE-TERM PORTFOLIO/VANGUARD MUNI BD
022 B000010 23-2471389
022 C000010        80
022 D000010      1335
023 C000000     437494
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SIGNATURE   GARY P. SOURA                                
TITLE                           
 


<TABLE> <S> <C>

<ARTICLE> 6
<RESTATED> 
<CIK> 0000923202
<NAME> VANGUARD TAX-MANAGED FUND, INC.
<SERIES>
   <NUMBER> 001
   <NAME> GROWTH AND INCOME PORTFOLIO
<MULTIPLIER> 1,000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<RESTATED> 
<CIK> 0000823202
<NAME> VANGUARD TAX-MANAGED FUND, INC.
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   <NAME> CAPITAL APPRECIATION PORTFOLIO
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<RESTATED> 
<CIK> 0000923202
<NAME> VANGUARD TAX-MANAGED FUND, INC.
<SERIES>
   <NUMBER> 003
   <NAME> BALANCED PORTFOLIO
<MULTIPLIER> 1,000
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<S>                             <C>
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</TABLE>


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