<PAGE> PAGE 1
000 B000000 10/31/94
000 C000000 0000702980
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 THE VICTORY FINANCIAL RESERVES PORTFOLIO
001 B000000 811-3476
001 C000000 6175578000
002 A000000 73 TREMONT STREET
002 B000000 BOSTON
002 C000000 MA
002 D010000 02108
002 D020000 3913
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 SOCIETY ASSET MANAGEMENT, INC.
008 B000001 A
008 C000001 801-00000
008 D010001 CLEVELAND
008 D020001 OH
008 D030001 44114
008 D040001 1306
010 A000001 CONCORD HOLDING CORP.
010 C010001 NEW YORK
010 C020001 NY
010 C030001 10019
011 A000001 CONCORD FINANCIAL GROUP, INC.
011 B000001 8-00000
011 C010001 NEW YORK
011 C020001 NY
011 C030001 10019
012 A000001 PRIMARY FUNDS SERVICE CORP.
012 B000001 84-0000
<PAGE> PAGE 2
012 C010001 PROVIDENCE
012 C020001 RI
012 C030001 02940
012 C040001 9741
013 A000001 KPMG PEAT MARWICK LLP
013 B010001 BOSTON
013 B020001 MA
013 B030001 02108
014 A000001 SOCIETY INVESTMENT, INC.
014 B000001 8-0000
014 A000002 DELETE
015 A000001 SOCIETY NATIONAL BANK
015 B000001 C
015 C010001 CLEVELAND
015 C020001 OH
015 C030001 44114
015 E010001 X
018 000000 Y
019 A000000 N
019 B000000 0
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 0
022 A000001 DEAN WITTER REYNOLDS, INC.
022 C000001 3334332
022 D000001 0
022 A000002 UBS SECURITIES, INC.
022 B000002 13-2932996
022 C000002 1183791
022 D000002 0
022 A000003 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
022 B000003 13-3092265
022 C000003 902643
022 D000003 0
022 A000004 HARRIS GOVERNMENT SECURITIES, INC.
022 B000004 13-2620737
022 C000004 897223
022 D000004 0
022 A000005 MERRILL LYNCH
022 B000005 13-5674085
022 C000005 839274
022 D000005 36955
022 A000006 CHASE MANHATTAN BANK
<PAGE> PAGE 3
022 B000006 13-4994650
022 C000006 744721
022 D000006 0
022 A000007 KIDDER PEABODY & CO.
022 B000007 13-5650440
022 C000007 717922
022 D000007 0
022 A000008 GE CAPITAL CORP.
022 B000008 13-1500700
022 C000008 571968
022 D000008 0
022 A000009 DLJ - FIXED INCOME
022 B000009 13-2741729
022 C000009 496000
022 D000009 0
022 A000010 SANWA BANK
022 B000010 94-1752619
022 C000010 430216
022 D000010 0
023 C000000 11724395
023 D000000 157154
024 000000 N
026 A000000 N
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 Y
027 000000 Y
028 A010000 170467
028 A020000 0
028 A030000 0
028 A040000 192077
028 B010000 170834
028 B020000 0
028 B030000 0
028 B040000 181922
028 C010000 191462
028 C020000 0
028 C030000 0
028 C040000 180380
028 D010000 237794
028 D020000 0
028 D030000 0
028 D040000 207677
028 E010000 286663
028 E020000 0
028 E030000 0
<PAGE> PAGE 4
028 E040000 290477
028 F010000 314811
028 F020000 0
028 F030000 0
028 F040000 299978
028 G010000 1372032
028 G020000 0
028 G030000 0
028 G040000 1352511
028 H000000 0
029 000000 N
030 A000000 0
030 B000000 0.00
030 C000000 0.00
034 000000 N
035 000000 0
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
040 000000 N
041 000000 N
042 A000000 0
042 B000000 0
042 C000000 0
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 0
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.500
048 A010000 0
048 A020000 0.000
048 B010000 0
048 B020000 0.000
048 C010000 0
048 C020000 0.000
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
<PAGE> PAGE 5
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 0
048 K020000 0.000
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 Y
053 B000000 Y
053 C000000 N
054 A000000 Y
054 B000000 Y
054 C000000 N
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 Y
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 N
054 M000000 N
054 N000000 N
054 O000000 N
055 A000000 N
055 B000000 N
056 000000 Y
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 500
062 A000000 Y
062 B000000 0.0
062 C000000 13.7
062 D000000 12.1
062 E000000 0.0
062 F000000 1.2
062 G000000 0.0
062 H000000 0.0
062 I000000 45.6
062 J000000 0.0
062 K000000 0.0
062 L000000 27.3
062 M000000 0.0
<PAGE> PAGE 6
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 36
063 B000000 0.0
064 A000000 Y
064 B000000 N
066 A000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 Y
070 B010000 N
070 B020000 N
070 C010000 N
070 C020000 N
070 D010000 N
070 D020000 N
070 E010000 N
070 E020000 N
070 F010000 N
070 F020000 N
070 G010000 N
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 N
070 K020000 N
070 L010000 N
070 L020000 N
070 M010000 N
070 M020000 N
070 N010000 N
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 N
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 0
<PAGE> PAGE 7
071 B000000 0
071 C000000 0
071 D000000 0
072 A000000 12
072 B000000 17290
072 C000000 0
072 D000000 0
072 E000000 0
072 F000000 2133
072 G000000 578
072 H000000 0
072 I000000 64
072 J000000 96
072 K000000 0
072 L000000 0
072 M000000 48
072 N000000 91
072 O000000 0
072 P000000 0
072 Q000000 21
072 R000000 38
072 S000000 12
072 T000000 0
072 U000000 0
072 V000000 0
072 W000000 44
072 X000000 3125
072 Y000000 707
072 Z000000 14872
072AA000000 0
072BB000000 28
072CC010000 0
072CC020000 0
072DD010000 14873
072DD020000 0
072EE000000 0
073 A010000 0.0350
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 0
074 B000000 52349
074 C000000 380454
074 D000000 0
074 E000000 0
074 F000000 0
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 0
074 K000000 0
<PAGE> PAGE 8
074 L000000 2370
074 M000000 0
074 N000000 435173
074 O000000 0
074 P000000 0
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 1907
074 S000000 0
074 T000000 433266
074 U010000 433295
074 U020000 0
074 V010000 1.00
074 V020000 0.00
074 W000000 0.9999
074 X000000 0
074 Y000000 0
075 A000000 427374
075 B000000 0
076 000000 0.00
077 A000000 Y
077 B000000 Y
077 C000000 Y
077 H000000 Y
077 K000000 Y
077 M000000 Y
077 Q010000 Y
078 000000 N
080 A000000 VIGILANT INSURANCE CO (CHUBB GROUP INSURANCE)
080 B000000 NONE
080 C000000 1700
081 A000000 Y
081 B000000 1
082 A000000 Y
082 B000000 10
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
SIGNATURE RICHARD FABIETTI
TITLE TREASURER
[ARTICLE] 6
[LEGEND]
This schedule contains summary financial information extracted from Victory
Funds Financial Reserves Portfolio Form NSAR B 10/31/94 and is qualified in
its entirety by reference to such financial statements.
[/LEGEND]
[CIK] 0000702980
[NAME] THE VICTORY FINANCIAL RESERVES PORTFOLIO
[SERIES]
[NUMBER]
[NAME]
[MULTIPLIER] 1,000
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] OCT-31-1994
[PERIOD-START] MAY-01-1994
[PERIOD-END] OCT-31-1994
[INVESTMENTS-AT-COST] 432,803
[INVESTMENTS-AT-VALUE] 432,803
[RECEIVABLES] 2,369
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 1
[TOTAL-ASSETS] 435,173
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 1,907
[TOTAL-LIABILITIES] 1,907
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 433,259
[SHARES-COMMON-STOCK] 433,295
[SHARES-COMMON-PRIOR] 457,872
[ACCUMULATED-NII-CURRENT] 35
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] (28)
[ACCUM-APPREC-OR-DEPREC] 0
[NET-ASSETS] 433,266
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 17,290
[OTHER-INCOME] 0
[EXPENSES-NET] 2,418
[NET-INVESTMENT-INCOME] 14,872
[REALIZED-GAINS-CURRENT] (28)
[APPREC-INCREASE-CURRENT] 0
[NET-CHANGE-FROM-OPS] 14,844
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] (14,873)
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 3,005,810
[NUMBER-OF-SHARES-REDEEMED] (3,030,387)
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] (24,606)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 2,133
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 3,125
[AVERAGE-NET-ASSETS] 427,374
[PER-SHARE-NAV-BEGIN] 1.000
[PER-SHARE-NII] 0.035
[PER-SHARE-GAIN-APPREC] 0
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] (0.035)
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 1.000
[EXPENSE-RATIO] 0.57
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
