<PAGE> PAGE 1
000 B000000 12/31/1999
000 C000000 0000811030
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 PROFESSIONALLY MANAGED PORTFOLIOS
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001 C000000 6268521033
002 A000000 2020 E. FINANCIAL WAY, STE. 100
002 B000000 GLENDORA
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002 D010000 91741
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004 000000 N
005 000000 N
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007 C011100 11
007 C021100 MATRIX GROWTH FUND
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007 C011200 12
007 C021200 MATRIX EMERGING GROWTH FUND
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007 C011300 13
007 C011400 14
007 C011500 15
007 C011600 16
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
008 A00AA01 SENA WELLER ROHS WILLIAMS, INC.
008 B00AA01 A
008 C00AA01 801-5326
008 D01AA01 CINCINNATI
008 D02AA01 OH
<PAGE> PAGE 2
008 D03AA01 45202
010 A00AA01 INVESTMENT COMPANY ADMINISTRATION, LLC.
010 C01AA01 GLENDORA
010 C02AA01 CA
010 C03AA01 91741
011 A00AA01 REYNOLDS DEWITT SECURITIES CO
011 B00AA01 8-37407
011 C01AA01 CINCINNATI
011 C02AA01 OH
011 C03AA01 45202
012 A00AA01 AMERICAN DATA SERVICES, INC.
012 B00AA01 84-1964
012 C01AA01 HAUPPAUGE
012 C02AA01 NY
012 C03AA01 11788
013 A00AA01 TAIT WELLER & BAKER
013 B01AA01 PHILADELPHIA
013 B02AA01 PA
013 B03AA01 19103
015 A00AA01 FIRSTAR INSTITUTIONAL CUSTODY SERVICES
015 B00AA01 C
015 C01AA01 CINCINNATI
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015 C03AA01 45202
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020 A000002 SALOMON/SMITH BARNEY
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020 B000003 13-2655998
020 C000003 1
020 A000004 WEST MINSTER
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020 A000005 DONALDSON, LUFKIN, JENRETTE
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<PAGE> PAGE 3
022 A000002 SALOMON/SMITH BARNEY
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022 C000002 909
022 D000002 996
022 A000003 BEAR STEARNS
022 B000003 13-3299429
022 C000003 1246
022 D000003 126
022 A000004 MORGAN STANLEY
022 B000004 13-2655998
022 C000004 994
022 D000004 208
022 A000005 MERRIL LYNCH
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022 C000005 646
022 D000005 147
022 A000006 PAINE WEBBER
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<PAGE> PAGE 4
031 A00AA00 0
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054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
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054 O00AA00 N
055 A00AA00 N
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<PAGE> PAGE 5
063 A00AA00 0
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080 A00AA00 ICI MUTUAL INSURANCE COMPANY
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<PAGE> PAGE 6
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<PAGE> PAGE 7
048 K021100 0.600
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070 E021100 N
070 F011100 N
070 F021100 N
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070 G021100 N
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070 H021100 N
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<PAGE> PAGE 8
070 R011100 N
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
048 J021200 0.000
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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SIGNATURE ROBERT SLOTKY
TITLE TREASURER
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<SHARES-REINVESTED> 221930
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REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
ON INTERNAL CONTROL STRUCTURE
Shareholders and Board of Trustees
Professionally Managed Portfolios
New York, New York
In planning and performing our audit of the financial statements of
the Matrix Growth Fund and the Matrix Emerging Growth Fund, each a
series of shares of Professionally Managed Portfolios, for the year
ended December 31, 1999, we considered their internal control
structure, including procedures for safeguarding securities, in
order to determine our auditing procedures for the purpose of
expressing our opinion on the financial statements and to comply
with the requirements of Form N-SAR, not to provide assurance
on the internal control structure.
The management of the Funds is responsible for establishing and
maintaining an internal control structure. In fulfilling this
responsibility, estimates and judgments by management are required
to assess the expected benefits and related costs of internal
control structure policies and procedures. Two of the objectives
of an internal control structure are to provide management with
reasonable, but not absolute, assurance that assets are safeguarded
against loss from unauthorized use or disposition, and that
transactions executed in accordance with management's authorization
and recorded properly to permit preparation of financial statements
in conformity with generally accepted accounting principles.
Because of inherent limitations in any internal control structure,
errors or irregularities may occur and not be detected. Also,
projection of any evaluation of the structure to future periods
is subject to the risk that it may become inadequate because of
changes in conditions or that the effectiveness of the design and
operation may deteriorate.
Our consideration of the internal control structure would not
necessarily disclose all matters in the internal control structure
that might be material weaknesses under standards established by
the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation
of the specific internal control structure elements does not reduce
to a relatively low level the risk that errors or irregularities in
amounts that would be material in relation to the financial
statements performing their assigned functions.
However, we noted no matters involving the internal control
structure, including procedures for safeguarding securities,
that we consider to be material weaknesses, as defined above,
as of December 31, 1999.
This report is intended solely for the information and use of
management and the Securities and Exchange Commission, and should
not be used for any other purpose.
TAIT, WELLER & BAKER
Philadelphia, Pennsylvania
January 28, 2000
