<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the Kemper
U.S. Mortgage Fund Semiannual Report for the six months ended 03/31/2000 and is
qualified in its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000701638
<NAME> KEMPER PORTFOLIOS
<SERIES>
<NUMBER> 006
<NAME> KEMPER U.S. MORTGAGE FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1999
<PERIOD-START> OCT-01-1999
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 1,727,690
<INVESTMENTS-AT-VALUE> 1,707,947
<RECEIVABLES> 289,988
<ASSETS-OTHER> 242
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,998,177
<PAYABLE-FOR-SECURITIES> 4,228
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 425,731
<TOTAL-LIABILITIES> 429,959
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,216,781
<SHARES-COMMON-STOCK> 469
<SHARES-COMMON-PRIOR> 495
<ACCUMULATED-NII-CURRENT> 5,762
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 633,171
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (21,154)
<NET-ASSETS> 1,568,218
<DIVIDEND-INCOME> 1,269
<INTEREST-INCOME> 60,320
<OTHER-INCOME> 0
<EXPENSES-NET> 9,083
<NET-INVESTMENT-INCOME> 52,505
<REALIZED-GAINS-CURRENT> (25,269)
<APPREC-INCREASE-CURRENT> (7,808)
<NET-CHANGE-FROM-OPS> 19,429
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (91)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 216
<NUMBER-OF-SHARES-REDEEMED> (438)
<SHARES-REINVESTED> 52
<NET-CHANGE-IN-ASSETS> (238,059)
<ACCUMULATED-NII-PRIOR> 9,721
<ACCUMULATED-GAINS-PRIOR> (107,098)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,474
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 9,137
<AVERAGE-NET-ASSETS> 3,200
<PER-SHARE-NAV-BEGIN> 6.75
<PER-SHARE-NII> 0.19
<PER-SHARE-GAIN-APPREC> (0.12)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (0.19)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 6.63
<EXPENSE-RATIO> 1.61
</TABLE>