<PAGE> PAGE 1
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007 C020300 KOBREN CONSERVATIVE ALLOCATION FUND
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<PAGE> PAGE 2
012 A00AA01 FIRST DATA INVESTOR SERVICES GROUP, INC.
012 B00AA01 84-1761
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013 A00AA01 PRICEWATERHOUSECOOPERS LLP
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014 A00AA01 KOBREN INSIGHT BROKERAGE, INC.
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
008 A000401 KOBREN INSIGHT MANAGEMENT, INC.
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
SIGNATURE RICHARD ROSE
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 042
<NAME> KOBREN DELPHI VALUE INSTITUTIONAL
<S> <C>
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<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 41,148,114
<INVESTMENTS-AT-VALUE> 45,079,323
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<SENIOR-EQUITY> 0
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<TABLE> <S> <C>
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<NUMBER> 041
<NAME> KOBREN DELPHI VALUE RETAIL
<S> <C>
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<TABLE> <S> <C>
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<SERIES>
<NUMBER> 01
<NAME> KOBREN GROWTH FUND
<S> <C>
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<SERIES>
<NUMBER> 02
<NAME> KOBREN MODERATE GROWTH FUND
<S> <C>
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