<TABLE> <S> <C>

<ARTICLE> 6
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-START>                             JAN-01-1999
<PERIOD-END>                               MAR-31-1999
<INVESTMENTS-AT-COST>                        3,461,864
<INVESTMENTS-AT-VALUE>                       4,101,009
<RECEIVABLES>                                    1,710
<ASSETS-OTHER>                                       0
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<TOTAL-ASSETS>                               4,765,463
<PAYABLE-FOR-SECURITIES>                       174,997
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    1,590,282
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<SENIOR-EQUITY>                              3,000,184
<PAID-IN-CAPITAL-COMMON>                     2,901,243
<SHARES-COMMON-STOCK>                          640,256
<SHARES-COMMON-PRIOR>                          640,256
<ACCUMULATED-NII-CURRENT>                  (2,510,349)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      1,895,938
<OVERDISTRIBUTION-GAINS>                             0
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<NET-ASSETS>                                 3,000,184
<DIVIDEND-INCOME>                                    0
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<OTHER-INCOME>                                  60,945
<EXPENSES-NET>                                  95,387
<NET-INVESTMENT-INCOME>                       (21,045)
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<APPREC-INCREASE-CURRENT>                      317,427
<NET-CHANGE-FROM-OPS>                          441,803
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                         441,803
<ACCUMULATED-NII-PRIOR>                    (2,489,304)
<ACCUMULATED-GAINS-PRIOR>                    1,750,517
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                              17,924
<GROSS-EXPENSE>                                 95,387
<AVERAGE-NET-ASSETS>                         2,779,283
<PER-SHARE-NAV-BEGIN>                             4.00
<PER-SHARE-NII>                                  (.03)
<PER-SHARE-GAIN-APPREC>                            .72
<PER-SHARE-DIVIDEND>                                 0
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<RETURNS-OF-CAPITAL>                                 0
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<EXPENSE-RATIO>                                   .032
<AVG-DEBT-OUTSTANDING>                       2,226,742
<AVG-DEBT-PER-SHARE>                              3.48
        

</TABLE>