PORTFOLIO PARTNERS INC
NSAR-A, 1998-08-19
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<PAGE>      PAGE  1
000 A000000 06/30/98
000 C000000 0001039001
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 PORTFOLIO PARTNERS, INC.
001 B000000 811-8319
001 C000000 8005254225
002 A000000 151 FARMINGTON AVENUE
002 B000000 HARTFORD
002 C000000 CT
002 D010000 06156
002 D020000 8962
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  5
007 C010100  1
007 C020100 MFS EMERGING EQUITIES PORTFOLIO
007 C030100 N
007 C010200  2
007 C020200 MFS RESEARCH GROWTH PORTFOLIO
007 C030200 N
007 C010300  3
007 C020300 MFS VALUE EQUITY PORTFOLIO
007 C030300 N
007 C010400  4
007 C020400 SCUDDER INTERNATIONAL GROWTH PORTFOLIO
007 C030400 N
007 C010500  5
007 C020500 T. ROWE PRICE GROWTH EQUITY PORTFOLIO
007 C030500 N
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
010 A00AA01 AETNA LIFE INSURANCE & ANNUITY COMPANY
010 B00AA01 801-12643
010 C01AA01 HARTFORD
010 C02AA01 CT
010 C03AA01 06156
010 C04AA01 8962
010 A00AA02 DELETE
011 A00AA01 AETNA LIFE INSURANCE & ANNUITY COMPANY
<PAGE>      PAGE  2
011 B00AA01 8-xxxxxxxx
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012 A00AA01 INVESTORS BANK & TRUST COMPANY
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013 A00AA01 KPMG PEAT MARWICK LLP
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<PAGE>      PAGE  3
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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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008 A000201 AETNA LIFE INSURANCE & ANNUITY COMPANY
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008 D030201 06156
008 D040201 8962
008 A000202 MASSACHUSETTS FINANCIAL SERVICES COMPANY
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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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008 A000302 MASSACHUSETTS FINANCIAL SERVICES COMPANY
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<PAGE>      PAGE  14
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<PAGE>      PAGE  15
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<PAGE>      PAGE  17
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008 A000401 AETNA LIFE INSURANCE & ANNUITY COMPANY
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<PAGE>      PAGE  18
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<PAGE>      PAGE  19
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070 F010400 Y
070 F020400 N
070 G010400 Y
070 G020400 N
070 H010400 Y
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 Y
070 K010400 Y
070 K020400 N
070 L010400 Y
070 L020400 Y
070 M010400 Y
070 M020400 Y
070 N010400 N
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 N
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400    108170
071 B000400    119777
071 C000400    398354
071 D000400   27
072 A000400  6
072 B000400      496
072 C000400     5212
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072 F000400     1645
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072 Q000400        0
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<PAGE>      PAGE  20
072 S000400        0
072 T000400        0
072 U000400        0
072 V000400        0
072 W000400        0
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072AA000400     6312
072BB000400        0
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072CC020400        0
072DD010400        0
072DD020400        0
072EE000400        0
073 A010400   0.0000
073 A020400   0.0000
073 B000400   0.0000
073 C000400   0.0000
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074 B000400        0
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074 H000400        0
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074 R010400        0
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074 S000400        0
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074 U010400    26109
074 U020400        0
074 V010400    17.04
074 V020400     0.00
074 W000400   0.0000
074 X000400        1
074 Y000400        0
075 A000400        0
075 B000400   414674
<PAGE>      PAGE  21
076  000400     0.00
008 A000501 AETNA LIFE INSURANCE & ANNUITY COMPANY
008 B000501 A
008 C000501 801-12643
008 D010501 HARTFORD
008 D020501 CT
008 D030501 06156
008 D040501 8962
008 A000502 T. ROWE PRICE ASSOCIATES, INC.
008 B000502 S
008 C000502 801-xxxxxx
008 D010502 BALTIMORE
008 D020502 MD
008 D030502 21202
024  000500 Y
025 A000501 HSBC HOLDINGS PLC
025 C000501 E
025 D000501    1076
025 D000502       0
025 D000503       0
025 D000504       0
025 D000505       0
025 D000506       0
025 D000507       0
025 D000508       0
028 A010500      2975
028 A020500         0
028 A030500         0
028 A040500      1879
028 B010500      4999
028 B020500         0
028 B030500         0
028 B040500      1016
028 C010500      8941
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028 C040500      3187
028 D010500     11905
028 D020500         0
028 D030500         0
028 D040500       282
028 E010500      7107
028 E020500         0
028 E030500         0
028 E040500      1496
028 F010500      7575
028 F020500         0
028 F030500         0
028 F040500       459
028 G010500     43502
028 G020500         0
<PAGE>      PAGE  22
028 G030500         0
028 G040500      8319
028 H000500         0
045  000500 Y
046  000500 N
047  000500 Y
048  000500  0.600
048 A010500        0
048 A020500 0.000
048 B010500        0
048 B020500 0.000
048 C010500        0
048 C020500 0.000
048 D010500        0
048 D020500 0.000
048 E010500        0
048 E020500 0.000
048 F010500        0
048 F020500 0.000
048 G010500        0
048 G020500 0.000
048 H010500        0
048 H020500 0.000
048 I010500        0
048 I020500 0.000
048 J010500        0
048 J020500 0.000
048 K010500        0
048 K020500 0.000
066 A000500 Y
066 B000500 N
066 C000500 N
066 D000500 Y
066 E000500 N
066 F000500 N
066 G000500 N
067  000500 N
068 A000500 N
068 B000500 N
069  000500 N
070 A010500 Y
070 A020500 N
070 B010500 Y
070 B020500 N
070 C010500 Y
070 C020500 N
070 D010500 Y
070 D020500 N
070 E010500 Y
070 E020500 N
070 F010500 Y
<PAGE>      PAGE  23
070 F020500 N
070 G010500 Y
070 G020500 N
070 H010500 Y
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 Y
070 J020500 Y
070 K010500 Y
070 K020500 N
070 L010500 Y
070 L020500 Y
070 M010500 Y
070 M020500 Y
070 N010500 N
070 N020500 N
070 O010500 Y
070 O020500 N
070 P010500 N
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 N
070 R020500 N
071 A000500    145296
071 B000500    111357
071 C000500    394921
071 D000500   28
072 A000500  6
072 B000500      940
072 C000500     2316
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072 E000500        0
072 F000500     1263
072 G000500      316
072 H000500        0
072 I000500        0
072 J000500        0
072 K000500        0
072 L000500        0
072 M000500        0
072 N000500        0
072 O000500       82
072 P000500        0
072 Q000500        0
072 R000500        0
072 S000500        0
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072 U000500        0
072 V000500        0
<PAGE>      PAGE  24
072 W000500        0
072 X000500     1660
072 Y000500        0
072 Z000500     1595
072AA000500     9558
072BB000500        0
072CC010500    51330
072CC020500        0
072DD010500        0
072DD020500        0
072EE000500        0
073 A010500   0.0000
073 A020500   0.0000
073 B000500   0.0000
073 C000500   0.0000
074 A000500        0
074 B000500        0
074 C000500    38331
074 D000500        0
074 E000500        0
074 F000500   432941
074 G000500        0
074 H000500        0
074 I000500        0
074 J000500     2561
074 K000500        0
074 L000500      367
074 M000500        1
074 N000500   474201
074 O000500     4913
074 P000500      281
074 Q000500        0
074 R010500        0
074 R020500        0
074 R030500        0
074 R040500      148
074 S000500        0
074 T000500   468859
074 U010500     9226
074 U020500        0
074 V010500    50.82
074 V020500     0.00
074 W000500   0.0000
074 X000500        1
074 Y000500        0
075 A000500        0
075 B000500   424394
076  000500     0.00
SIGNATURE   NICK CHUNIAS                                 
TITLE       ASSISTANT TREASURER 
 


<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from Portfolio Partners, Inc.
financial statements at June 30, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
   <NUMBER> 1
   <NAME> MFS Emerging Equities Portfolio
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                         DEC-31-1997
<PERIOD-END>                              JUN-30-1998
<INVESTMENTS-AT-COST>                     809,625,132
<INVESTMENTS-AT-VALUE>                    944,814,298
<RECEIVABLES>                                 525,645
<ASSETS-OTHER>                             42,431,813
<OTHER-ITEMS-ASSETS>                                0
<TOTAL-ASSETS>                            987,771,756
<PAYABLE-FOR-SECURITIES>                    4,384,400
<SENIOR-LONG-TERM-DEBT>                             0
<OTHER-ITEMS-LIABILITIES>                   1,535,433
<TOTAL-LIABILITIES>                         5,919,833
<SENIOR-EQUITY>                                     0
<PAID-IN-CAPITAL-COMMON>                  836,283,414
<SHARES-COMMON-STOCK>                      19,050,142
<SHARES-COMMON-PRIOR>                      17,899,936
<ACCUMULATED-NII-CURRENT>                     341,559
<OVERDISTRIBUTION-NII>                              0
<ACCUMULATED-NET-GAINS>                    10,037,814
<OVERDISTRIBUTION-GAINS>                            0
<ACCUM-APPREC-OR-DEPREC>                  135,189,136
<NET-ASSETS>                              981,851,923
<DIVIDEND-INCOME>                             471,783
<INTEREST-INCOME>                           1,818,348
<OTHER-INCOME>                                      0
<EXPENSES-NET>                             (3,577,798)
<NET-INVESTMENT-INCOME>                    (1,287,667)
<REALIZED-GAINS-CURRENT>                   11,181,631
<APPREC-INCREASE-CURRENT>                 144,109,646
<NET-CHANGE-FROM-OPS>                     154,003,610
<EQUALIZATION>                                      0
<DISTRIBUTIONS-OF-INCOME>                           0
<DISTRIBUTIONS-OF-GAINS>                            0
<DISTRIBUTIONS-OTHER>                               0
<NUMBER-OF-SHARES-SOLD>                     3,083,007
<NUMBER-OF-SHARES-REDEEMED>                (1,932,801)
<SHARES-REINVESTED>                                 0
<NET-CHANGE-IN-ASSETS>                    213,743,730
<ACCUMULATED-NII-PRIOR>                     1,629,226
<ACCUMULATED-GAINS-PRIOR>                  (1,143,817)
<OVERDISTRIB-NII-PRIOR>                             0
<OVERDIST-NET-GAINS-PRIOR>                          0
<GROSS-ADVISORY-FEES>                       3,002,160
<INTEREST-EXPENSE>                                  0
<GROSS-EXPENSE>                             3,577,798
<AVERAGE-NET-ASSETS>                      892,934,800
<PER-SHARE-NAV-BEGIN>                           42.91
<PER-SHARE-NII>                                 (0.07)
<PER-SHARE-GAIN-APPREC>                          8.70
<PER-SHARE-DIVIDEND>                             0.00
<PER-SHARE-DISTRIBUTIONS>                        0.00
<RETURNS-OF-CAPITAL>                             0.00
<PER-SHARE-NAV-END>                             51.54
<EXPENSE-RATIO>                                  0.81
<AVG-DEBT-OUTSTANDING>                              0
<AVG-DEBT-PER-SHARE>                             0.00
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from Portfolio Partners, Inc.
financial statements at June 30, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
   <NUMBER> 2
   <NAME> MFS Research Growth Portfolio
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>               DEC-31-1997
<PERIOD-END>                    JUN-30-1998
<INVESTMENTS-AT-COST>                     389,747,692
<INVESTMENTS-AT-VALUE>                    453,729,331
<RECEIVABLES>                               2,418,120
<ASSETS-OTHER>                             21,246,142
<OTHER-ITEMS-ASSETS>                                0
<TOTAL-ASSETS>                            477,393,593
<PAYABLE-FOR-SECURITIES>                    1,454,487
<SENIOR-LONG-TERM-DEBT>                             0
<OTHER-ITEMS-LIABILITIES>                   2,765,766
<TOTAL-LIABILITIES>                         4,220,253
<SENIOR-EQUITY>                                     0
<PAID-IN-CAPITAL-COMMON>                  409,265,194
<SHARES-COMMON-STOCK>                      41,299,245
<SHARES-COMMON-PRIOR>                      41,145,690
<ACCUMULATED-NII-CURRENT>                     592,495
<OVERDISTRIBUTION-NII>                              0
<ACCUMULATED-NET-GAINS>                      (665,693)
<OVERDISTRIBUTION-GAINS>                            0
<ACCUM-APPREC-OR-DEPREC>                   63,981,344
<NET-ASSETS>                              473,173,340
<DIVIDEND-INCOME>                           2,064,979
<INTEREST-INCOME>                             274,488
<OTHER-INCOME>                                      0
<EXPENSES-NET>                             (1,850,314)
<NET-INVESTMENT-INCOME>                       489,153
<REALIZED-GAINS-CURRENT>                    3,980,873
<APPREC-INCREASE-CURRENT>                  66,768,154
<NET-CHANGE-FROM-OPS>                      71,238,180
<EQUALIZATION>                                      0
<DISTRIBUTIONS-OF-INCOME>                           0
<DISTRIBUTIONS-OF-GAINS>                            0
<DISTRIBUTIONS-OTHER>                               0
<NUMBER-OF-SHARES-SOLD>                     5,456,061
<NUMBER-OF-SHARES-REDEEMED>                (5,302,506)
<SHARES-REINVESTED>                                 0
<NET-CHANGE-IN-ASSETS>                     73,625,207
<ACCUMULATED-NII-PRIOR>                       103,342
<ACCUMULATED-GAINS-PRIOR>                  (4,646,566)
<OVERDISTRIB-NII-PRIOR>                             0
<OVERDIST-NET-GAINS-PRIOR>                          0
<GROSS-ADVISORY-FEES>                       1,523,787
<INTEREST-EXPENSE>                                  0
<GROSS-EXPENSE>                             1,850,314
<AVERAGE-NET-ASSETS>                      438,976,753
<PER-SHARE-NAV-BEGIN>                            9.71
<PER-SHARE-NII>                                  0.01
<PER-SHARE-GAIN-APPREC>                          1.74
<PER-SHARE-DIVIDEND>                             0.00
<PER-SHARE-DISTRIBUTIONS>                        0.00
<RETURNS-OF-CAPITAL>                             0.00
<PER-SHARE-NAV-END>                             11.46
<EXPENSE-RATIO>                                  0.85
<AVG-DEBT-OUTSTANDING>                              0
<AVG-DEBT-PER-SHARE>                             0.00
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from Portfolio Partners, Inc.
financial statements at June 30, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
   <NUMBER> 3
   <NAME> MFS Value Equity Portfolio
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>               DEC-31-1997
<PERIOD-END>                    JUN-30-1998
<INVESTMENTS-AT-COST>                     147,570,243
<INVESTMENTS-AT-VALUE>                    165,677,502
<RECEIVABLES>                               2,914,147
<ASSETS-OTHER>                             14,497,837
<OTHER-ITEMS-ASSETS>                                0
<TOTAL-ASSETS>                            183,089,486
<PAYABLE-FOR-SECURITIES>                    2,441,427
<SENIOR-LONG-TERM-DEBT>                             0
<OTHER-ITEMS-LIABILITIES>                   1,437,842
<TOTAL-LIABILITIES>                         3,879,269
<SENIOR-EQUITY>                                     0
<PAID-IN-CAPITAL-COMMON>                  151,749,399
<SHARES-COMMON-STOCK>                       5,044,432
<SHARES-COMMON-PRIOR>                       4,497,589
<ACCUMULATED-NII-CURRENT>                     539,181
<OVERDISTRIBUTION-NII>                              0
<ACCUMULATED-NET-GAINS>                     8,852,186
<OVERDISTRIBUTION-GAINS>                            0
<ACCUM-APPREC-OR-DEPREC>                   18,069,451
<NET-ASSETS>                              179,210,217
<DIVIDEND-INCOME>                             747,419
<INTEREST-INCOME>                             269,194
<OTHER-INCOME>                                      0
<EXPENSES-NET>                               (707,864)
<NET-INVESTMENT-INCOME>                       308,749
<REALIZED-GAINS-CURRENT>                    9,064,636
<APPREC-INCREASE-CURRENT>                  16,202,760
<NET-CHANGE-FROM-OPS>                      25,576,145
<EQUALIZATION>                                      0
<DISTRIBUTIONS-OF-INCOME>                           0
<DISTRIBUTIONS-OF-GAINS>                            0
<DISTRIBUTIONS-OTHER>                               0
<NUMBER-OF-SHARES-SOLD>                       640,940
<NUMBER-OF-SHARES-REDEEMED>                   (94,097)
<SHARES-REINVESTED>                                 0
<NET-CHANGE-IN-ASSETS>                     44,702,056
<ACCUMULATED-NII-PRIOR>                       230,432
<ACCUMULATED-GAINS-PRIOR>                    (212,450)
<OVERDISTRIB-NII-PRIOR>                             0
<OVERDIST-NET-GAINS-PRIOR>                          0
<GROSS-ADVISORY-FEES>                         511,235
<INTEREST-EXPENSE>                                  0
<GROSS-EXPENSE>                               707,864
<AVERAGE-NET-ASSETS>                      158,606,289
<PER-SHARE-NAV-BEGIN>                           29.91
<PER-SHARE-NII>                                  0.06
<PER-SHARE-GAIN-APPREC>                          5.56
<PER-SHARE-DIVIDEND>                             0.00
<PER-SHARE-DISTRIBUTIONS>                        0.00
<RETURNS-OF-CAPITAL>                             0.00
<PER-SHARE-NAV-END>                             35.53
<EXPENSE-RATIO>                                  0.90
<AVG-DEBT-OUTSTANDING>                              0
<AVG-DEBT-PER-SHARE>                             0.00
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from Portfolio Partners, Inc.
financial statements at June 30, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
   <NUMBER> 4
   <NAME>   Scudder International Growth Portfolio
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>               DEC-31-1997
<PERIOD-END>                    JUN-30-1998
<INVESTMENTS-AT-COST>                     349,598,227
<INVESTMENTS-AT-VALUE>                    424,049,751
<RECEIVABLES>                               4,875,844
<ASSETS-OTHER>                             28,889,242
<OTHER-ITEMS-ASSETS>                                0
<TOTAL-ASSETS>                            457,814,837
<PAYABLE-FOR-SECURITIES>                    9,886,572
<SENIOR-LONG-TERM-DEBT>                             0
<OTHER-ITEMS-LIABILITIES>                   3,051,254
<TOTAL-LIABILITIES>                        12,937,826
<SENIOR-EQUITY>                                     0
<PAID-IN-CAPITAL-COMMON>                  360,964,932
<SHARES-COMMON-STOCK>                      26,108,609
<SHARES-COMMON-PRIOR>                      26,828,266
<ACCUMULATED-NII-CURRENT>                   3,117,204
<OVERDISTRIBUTION-NII>                              0
<ACCUMULATED-NET-GAINS>                     6,349,739
<OVERDISTRIBUTION-GAINS>                            0
<ACCUM-APPREC-OR-DEPREC>                   74,445,136
<NET-ASSETS>                              444,877,011
<DIVIDEND-INCOME>                           4,632,450
<INTEREST-INCOME>                             496,160
<OTHER-INCOME>                                      0
<EXPENSES-NET>                             (2,056,135)
<NET-INVESTMENT-INCOME>                     3,072,475
<REALIZED-GAINS-CURRENT>                    6,312,006
<APPREC-INCREASE-CURRENT>                  68,589,414
<NET-CHANGE-FROM-OPS>                      77,973,895
<EQUALIZATION>                                      0
<DISTRIBUTIONS-OF-INCOME>                           0
<DISTRIBUTIONS-OF-GAINS>                            0
<DISTRIBUTIONS-OTHER>                               0
<NUMBER-OF-SHARES-SOLD>                     9,664,587
<NUMBER-OF-SHARES-REDEEMED>               (10,384,244)
<SHARES-REINVESTED>                                 0
<NET-CHANGE-IN-ASSETS>                     66,676,834
<ACCUMULATED-NII-PRIOR>                        44,729
<ACCUMULATED-GAINS-PRIOR>                      37,733
<OVERDISTRIB-NII-PRIOR>                             0
<OVERDIST-NET-GAINS-PRIOR>                          0
<GROSS-ADVISORY-FEES>                       1,644,870
<INTEREST-EXPENSE>                                  0
<GROSS-EXPENSE>                             2,056,135
<AVERAGE-NET-ASSETS>                      414,673,519
<PER-SHARE-NAV-BEGIN>                           14.10
<PER-SHARE-NII>                                  0.12
<PER-SHARE-GAIN-APPREC>                          2.82
<PER-SHARE-DIVIDEND>                             0.00
<PER-SHARE-DISTRIBUTIONS>                        0.00
<RETURNS-OF-CAPITAL>                             0.00
<PER-SHARE-NAV-END>                             17.04
<EXPENSE-RATIO>                                  1.00
<AVG-DEBT-OUTSTANDING>                              0
<AVG-DEBT-PER-SHARE>                             0.00
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from Portfolio Partners, Inc.
financial statements at June 30, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
   <NUMBER> 5
   <NAME>   T. Rowe Price Growth Equity Portfolio
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                         DEC-31-1997
<PERIOD-END>                    JUN-30-1998
<INVESTMENTS-AT-COST>                     414,872,463
<INVESTMENTS-AT-VALUE>                    471,272,486
<RECEIVABLES>                               2,927,161
<ASSETS-OTHER>                                    942
<OTHER-ITEMS-ASSETS>                                0
<TOTAL-ASSETS>                            474,200,589
<PAYABLE-FOR-SECURITIES>                    4,912,911
<SENIOR-LONG-TERM-DEBT>                             0
<OTHER-ITEMS-LIABILITIES>                     429,089
<TOTAL-LIABILITIES>                         5,342,000
<SENIOR-EQUITY>                                     0
<PAID-IN-CAPITAL-COMMON>                  398,979,721
<SHARES-COMMON-STOCK>                       9,226,302
<SHARES-COMMON-PRIOR>                       8,512,069
<ACCUMULATED-NII-CURRENT>                   2,149,175
<OVERDISTRIBUTION-NII>                              0
<ACCUMULATED-NET-GAINS>                    11,333,000
<OVERDISTRIBUTION-GAINS>                            0
<ACCUM-APPREC-OR-DEPREC>                   56,396,693
<NET-ASSETS>                              468,858,589
<DIVIDEND-INCOME>                           2,233,534
<INTEREST-INCOME>                             939,704
<OTHER-INCOME>                                      0
<EXPENSES-NET>                             (1,578,397)
<NET-INVESTMENT-INCOME>                     1,594,841
<REALIZED-GAINS-CURRENT>                    9,557,517
<APPREC-INCREASE-CURRENT>                  51,329,521
<NET-CHANGE-FROM-OPS>                      62,481,879
<EQUALIZATION>                                      0
<DISTRIBUTIONS-OF-INCOME>                           0
<DISTRIBUTIONS-OF-GAINS>                            0
<DISTRIBUTIONS-OTHER>                               0
<NUMBER-OF-SHARES-SOLD>                       888,704
<NUMBER-OF-SHARES-REDEEMED>                  (174,471)
<SHARES-REINVESTED>                                 0
<NET-CHANGE-IN-ASSETS>                     97,664,979
<ACCUMULATED-NII-PRIOR>                       554,334
<ACCUMULATED-GAINS-PRIOR>                   1,775,483
<OVERDISTRIB-NII-PRIOR>                             0
<OVERDIST-NET-GAINS-PRIOR>                          0
<GROSS-ADVISORY-FEES>                       1,262,718
<INTEREST-EXPENSE>                                  0
<GROSS-EXPENSE>                             1,578,397
<AVERAGE-NET-ASSETS>                      424,394,076
<PER-SHARE-NAV-BEGIN>                           43.61
<PER-SHARE-NII>                                  0.17
<PER-SHARE-GAIN-APPREC>                          7.04
<PER-SHARE-DIVIDEND>                             0.00
<PER-SHARE-DISTRIBUTIONS>                        0.00
<RETURNS-OF-CAPITAL>                             0.00
<PER-SHARE-NAV-END>                             50.82
<EXPENSE-RATIO>                                  0.75
<AVG-DEBT-OUTSTANDING>                              0
<AVG-DEBT-PER-SHARE>                             0.00
        

</TABLE>


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