SCHEDULE 13G

Amendment No. 1
Nab Asset Corporation
common stock
Cusip # 628712101
Filing Fee: No


Cusip # 628712101
Item 1:   Reporting Person - FMR Corp. - (Tax ID:  04-2507163)
Item 4:   Commonwealth of Massachusetts
Item 5:   421,500
Item 6:   None
Item 7:   421,500
Item 8:   None
Item 9:   421,500
Item 11:  10.00%
Item 12:  HC 




Cusip # 628712101
Item 1:   Reporting Person - Edward C. Johnson 3d - (Tax ID:  ###-##-####)
Item 4:   United States of America
Item 5:   None
Item 6:   None
Item 7:   421,500
Item 8:   None
Item 9:   421,500
Item 11:  10.00%
Item 12:  IN 




SCHEDULE 13G - TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO RULE 13d-1(b) or 13d-2(b)


Item 1(a).    Name of Issuer:

         Nab Asset Corporation

Item 1(b).    Name of Issuer's Principal Executive Offices:

         5851 San Felipe, Suite 300
         Houston, TX  77057-4804

Item 2(a).    Name of Person Filing: 

         FMR Corp.

Item 2(b).    Address or Principal Business Office or, if None, Residence:

         82 Devonshire Street, Boston, Massachusetts  02109

Item 2(c).    Citizenship:

         Not applicable

Item 2(d).    Title of Class of Securities:

         Common Stock

Item 2(e).    CUSIP Number:  

         628712101

Item 3.  This statement is filed pursuant to Rule 13d-1(b) or 13d-2(b) and the
person filing, FMR Corp., is a parent holding company in accordance
with Section 240.13d-1(b)(ii)(G).  (Note:  See Item 7).

Item 4.  Ownership

         (a)  Amount Beneficially Owned:    421,500

         (b)  Percent of Class:   10.00%

         (c)  Number of shares as to which such person has:  

              (i)   sole power to vote or to direct the vote:   421,500

              (ii)  shared power to vote or to direct the vote: None

              (iii) sole power to dispose or to direct the disposition of:
    421,500

              (iv)  shared power to dispose or to direct the disposition
of: None




Item 5.  Ownership of Five Percent or Less of a Class.

         Not applicable.

Item 6.  Ownership of More than Five Percent on Behalf of Another Person.

         Various persons have the right to receive or the power to
direct the receipt of dividends from, or the proceeds from
the sale of, the common stock of Nab Asset Corporation.  The
interest of one person, Fidelity Management Trust Company, a
bank as defined in Section 3(a)(6) of the Securities
Exchange Act of 1934, in the common stock of Nab Asset
Corporation, amounted to 421,500 shares or 10.00% of the
total outstanding common stock at December 31, 1993.

Item 7.  Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on By the Parent Holding Company.

         See attached Exhibit(s) A and B.

Item 8.  Identification and Classification of Members of the Group.

         Not applicable, see attached Exhibit A. 

Item 9.  Notice of Dissolution of Group.

         Not applicable.


Item 10. Certification.

         By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the
ordinary course of business and were not acquired for the purpose
of and do not have the effect of changing or influencing the
control of the issuer of such securities and were not acquired in
connection with or as a participant in any transaction having such
purpose or effect.


Signature

         After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement
is true, complete and correct. 



    February 11, 1994   
Date



    /S/Arthur S. Loring
Signature



    Arthur S. Loring, Vice President
    
Name/Title




SCHEDULE 13G - TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO RULE 13d-1(b) or 13d-2(b)

    Fidelity Management Trust Company, 82 Devonshire Street, Boston,
Massachusetts 02109, a wholly-owned subsidiary of FMR Corp. and a bank as
defined in Section 3(a)(6) of the Securities Exchange Act of 1934, is the
beneficial owner of 421,500 shares or 10.00% of the common stock
outstanding of the company as a result of its serving as investment manager
of the institutional account(s).

    FMR Corp., through its control of Fidelity Management Trust Company,
has sole voting and dispositive power over 421,500 Shares of common stock
owned by the institutional account(s) as reported above.

    Edward C. Johnson 3d owns 34.0% of the outstanding voting common stock
of FMR Corp.  Mr. Johnson 3d is Chairman of FMR Corp.  Various Johnson
family members and trusts for the benefit of Johnson family members own FMR
Corp. voting common stock.  These Johnson family members, through their
ownership of voting common stock, form a controlling group with respect to
FMR Corp.



SCHEDULE 13G - TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO RULE 13d-1(b) or 13d-2(b)

RULE 13d-1(e)  AGREEMENT

    The undersigned persons, on February 11, 1994, agree and consent to
the joint filing on their behalf of this Schedule 13G in connection with
their beneficial ownership of the common stock of Nab Asset Corporation at
December 31, 1993.

    FMR Corp.
    By   /S/Arthur S. Loring
Arthur S. Loring
Vice President - Legal
         Edward C. Johnson 3d
    By   /S/Arthur S. Loring
Arthur S. Loring
Under Power of Attorney
dated 5/17/89
On File with Schedule 13G
for
Airborne Freight Corp.
9/10/91
    Fidelity Management & Research Company
    By   /S/Arthur S. Loring
Arthur S. Loring
Sr. V.P. and General
Counsel
    Fidelity Management Trust Company
    By   /S/John T. McGrath
John T. McGrath
Treasurer and Vice
President