<PAGE> PAGE 1
000 A000000 04/30/98
000 C000000 0000812015
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 2.2
000 J000000 A
001 A000000 THE ALLIANCE PORTFOLIOS
001 B000000 811-05088
001 C000000 2013194000
002 A000000 500 PLAZA DRIVE
002 B000000 SECAUCUS
002 C000000 NJ
002 D010000 07094
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 5
007 C010100 1
007 C020100 GROWTH FUND
007 C030100 N
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
008 A00AA01 ALLIANCE CAPITAL MANAGEMENT L.P.
008 B00AA01 A
008 C00AA01 801-32361
008 D01AA01 NEW YORK
008 D02AA01 NY
008 D03AA01 10105
011 A00AA01 ALLIANCE FUND DISTRIBUTORS, INC.
011 B00AA01 8-30851
011 C01AA01 NEW YORK
011 C02AA01 NY
011 C03AA01 10105
012 A00AA01 ALLIANCE FUND SERVICES, INC.
012 B00AA01 84-0001187
012 C01AA01 SECAUCUS
012 C02AA01 NJ
012 C03AA01 07096
013 A00AA01 PRICE WATERHOUSE LLP
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10036
014 A00AA01 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP
014 B00AA01 8-00017574
<PAGE> PAGE 2
015 A00AA01 STATE STREET BANK AND TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02110
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 55
019 C00AA00 ALLIANCECA
020 A000001 MORGAN STANLEY AND CO., INC.
020 B000001 13-2655998
020 C000001 272
020 A000002 LEHMAN BROTHERS INC.
020 B000002 13-2518466
020 C000002 260
020 A000003 GOLDMAN SACHS & CO.
020 B000003 13-5108880
020 C000003 214
020 A000004 MERRILL LYNCH PIERCE FENNER & SMITH
020 B000004 13-5674085
020 C000004 186
020 A000005 C.J. LAWRENCE
020 C000005 138
020 A000006 KLEINWORT BENSON INC.
020 B000006 13-2647786
020 C000006 93
020 A000007 BANKERS TRUST COMPANY
020 B000007 13-4941247
020 C000007 87
020 A000008 ALEX BROWN & SONS, INC.
020 B000008 52-1319768
020 C000008 73
020 A000009 EVEREN CLEARING CORP.
020 C000009 68
020 A000010 SALOMON BROTHERS INC.
020 B000010 13-3082694
020 C000010 65
021 000000 2073
022 A000001 AUBREY LANSTON & CO. INC.
022 B000001 13-5552129
022 C000001 16695151
022 D000001 24693
022 A000002 STATE STREET BANK AND TRUST CO.
022 B000002 04-1867445
022 C000002 740870
022 D000002 0
022 A000003 MORGAN STANLEY AND CO., INC.
022 B000003 13-2655998
022 C000003 287920
022 D000003 351139
<PAGE> PAGE 3
022 A000004 LEHMAN BROTHERS INC.
022 B000004 13-2518466
022 C000004 262644
022 D000004 272953
022 A000005 PRUDENTIAL SECURITIES INC.
022 B000005 22-2347336
022 C000005 376656
022 D000005 0
022 A000006 GOLDMAN SACHS & CO.
022 B000006 13-5108880
022 C000006 133268
022 D000006 241804
022 A000007 DELTEC ASSET MANAGEMENT CORP.
022 B000007 13-5133790
022 C000007 207467
022 D000007 0
022 A000008 SALOMON BROTHERS INC.
022 B000008 13-3082694
022 C000008 18729
022 D000008 155312
022 A000009 WARBURG (S.G.) & CO., INC.
022 B000009 13-3340045
022 C000009 0
022 D000009 110015
022 A000010 CS FIRST BOSTON CORP.
022 B000010 13-5659485
022 C000010 69447
022 D000010 30357
023 C000000 18985951
023 D000000 1361508
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 N
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 N
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 Y
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
<PAGE> PAGE 4
054 G00AA00 Y
054 H00AA00 N
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 Y
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
055 A00AA00 N
055 B00AA00 N
056 00AA00 Y
057 00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 250
077 A000000 Y
077 B000000 N
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 Y
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
080 B00AA00 GULF INSURANCE COMPANY
080 C00AA00 92000
081 A00AA00 Y
081 B00AA00 119
082 A00AA00 N
082 B00AA00 0
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
<PAGE> PAGE 5
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
024 000100 Y
025 A000101 MORGAN STANLEY & CO., INC.
025 B000101 13-2655998
025 C000101 E
025 D000101 47593
025 D000102 0
025 D000103 0
025 D000104 0
025 D000105 0
025 D000106 0
025 D000107 0
025 D000108 0
028 A010100 82474
028 A020100 0
028 A030100 0
028 A040100 59870
028 B010100 141563
028 B020100 364860
028 B030100 0
028 B040100 87572
028 C010100 157352
028 C020100 2765
028 C030100 0
028 C040100 117932
028 D010100 162940
028 D020100 14
028 D030100 0
028 D040100 116572
028 E010100 182276
028 E020100 15
028 E030100 0
028 E040100 139070
028 F010100 212206
028 F020100 14
028 F030100 0
028 F040100 154621
028 G010100 938811
028 G020100 367668
028 G030100 0
<PAGE> PAGE 6
028 G040100 675637
028 H000100 377361
029 000100 Y
030 A000100 3176
030 B000100 4.25
030 C000100 4.25
031 A000100 111
031 B000100 0
032 000100 3066
033 000100 0
034 000100 Y
035 000100 1838
036 A000100 Y
036 B000100 0
037 000100 N
038 000100 0
039 000100 N
040 000100 Y
041 000100 Y
042 A000100 0
042 B000100 0
042 C000100 100
042 D000100 0
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 0
043 000100 23977
044 000100 701
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.000
048 A010100 3000000
048 A020100 0.750
048 B010100 1000000
048 B020100 0.700
048 C010100 1000000
048 C020100 0.650
048 D010100 0
048 D020100 0.000
048 E010100 0
048 E020100 0.000
048 F010100 0
048 F020100 0.000
048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
<PAGE> PAGE 7
048 J010100 0
048 J020100 0.000
048 K010100 5000000
048 K020100 0.600
062 A000100 N
062 B000100 0.0
062 C000100 0.0
062 D000100 0.0
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 0.0
062 N000100 0.0
062 O000100 0.0
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
063 A000100 0
063 B000100 0.0
066 A000100 Y
066 B000100 N
066 C000100 N
066 D000100 Y
066 E000100 N
066 F000100 N
066 G000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
070 A020100 N
070 B010100 Y
070 B020100 N
070 C010100 Y
070 C020100 N
070 D010100 Y
070 D020100 N
070 E010100 Y
070 E020100 N
070 F010100 Y
070 F020100 N
070 G010100 Y
070 G020100 N
070 H010100 Y
070 H020100 N
<PAGE> PAGE 8
070 I010100 Y
070 I020100 N
070 J010100 Y
070 J020100 Y
070 K010100 Y
070 K020100 Y
070 L010100 Y
070 L020100 Y
070 M010100 Y
070 M020100 Y
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 Y
070 P020100 N
070 Q010100 Y
070 Q020100 N
070 R010100 Y
070 R020100 N
071 A000100 1915368
071 B000100 1458641
071 C000100 5467105
071 D000100 27
072 A000100 6
072 B000100 6562
072 C000100 29843
072 D000100 0
072 E000100 0
072 F000100 19549
072 G000100 0
072 H000100 0
072 I000100 3597
072 J000100 232
072 K000100 0
072 L000100 440
072 M000100 17
072 N000100 231
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 31
072 S000100 63
072 T000100 23977
072 U000100 0
072 V000100 0
072 W000100 29
072 X000100 48166
072 Y000100 0
072 Z000100 -11761
072AA000100 444900
<PAGE> PAGE 9
072BB000100 0
072CC010100 476220
072CC020100 0
072DD010100 0
072DD020100 0
072EE000100 395418
073 A010100 0.0000
073 A020100 0.0000
073 B000100 2.9100
073 C000100 0.0000
074 A000100 1570
074 B000100 0
074 C000100 137596
074 D000100 32825
074 E000100 0
074 F000100 6138077
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 0
074 K000100 0
074 L000100 17516
074 M000100 0
074 N000100 6327584
074 O000100 16485
074 P000100 4595
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 94911
074 R040100 4240
074 S000100 0
074 T000100 6207353
074 U010100 20237
074 U020100 131834
074 V010100 48.57
074 V020100 39.42
074 W000100 0.0000
074 X000100 325426
074 Y000100 0
075 A000100 0
075 B000100 5591863
076 000100 0.00
SIGNATURE BETH SMITH
TITLE ASST VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000812015
<NAME> THE ALLIANCE PORTFOLIOS
<SERIES>
<NUMBER> 011
<NAME> GROWTH FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-START> NOV-01-1997
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 4,501,673,486
<INVESTMENTS-AT-VALUE> 6,308,498,208
<RECEIVABLES> 17,515,777
<ASSETS-OTHER> 1,569,860
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 6,327,583,845
<PAYABLE-FOR-SECURITIES> 16,484,757
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 103,746,545
<TOTAL-LIABILITIES> 120,231,302
<SENIOR-EQUITY> 1,520
<PAID-IN-CAPITAL-COMMON> 4,007,328,592
<SHARES-COMMON-STOCK> 20,237,065
<SHARES-COMMON-PRIOR> 17,816,215
<ACCUMULATED-NII-CURRENT> (11,760,790)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 430,732,778
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,781,050,443
<NET-ASSETS> 6,207,352,543
<DIVIDEND-INCOME> 29,843,303
<INTEREST-INCOME> 6,561,439
<OTHER-INCOME> 0
<EXPENSES-NET> (48,165,532)
<NET-INVESTMENT-INCOME> (11,760,790)
<REALIZED-GAINS-CURRENT> 444,899,856
<APPREC-INCREASE-CURRENT> 476,219,781
<NET-CHANGE-FROM-OPS> 909,358,847
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (52,161,970)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 9,116,774
<NUMBER-OF-SHARES-REDEEMED> (7,799,391)
<SHARES-REINVESTED> 1,103,467
<NET-CHANGE-IN-ASSETS> 1,144,782,909
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 381,251,181
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 19,549,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 48,166,000
<AVERAGE-NET-ASSETS> 878,808,122
<PER-SHARE-NAV-BEGIN> 43.95
<PER-SHARE-NII> 0.06
<PER-SHARE-GAIN-APPREC> 7.47
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (2.91)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 48.57
<EXPENSE-RATIO> 1.17
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000812015
<NAME> THE ALLIANCE PORTFOLIOS
<SERIES>
<NUMBER> 012
<NAME> GROWTH FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-START> NOV-01-1997
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 4,501,673,486
<INVESTMENTS-AT-VALUE> 6,308,498,208
<RECEIVABLES> 17,515,777
<ASSETS-OTHER> 1,569,860
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 6,327,583,845
<PAYABLE-FOR-SECURITIES> 16,484,757
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 103,746,545
<TOTAL-LIABILITIES> 120,231,302
<SENIOR-EQUITY> 1,520
<PAID-IN-CAPITAL-COMMON> 4,007,328,592
<SHARES-COMMON-STOCK> 110,405,449
<SHARES-COMMON-PRIOR> 98,548,974
<ACCUMULATED-NII-CURRENT> (11,760,790)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 430,732,778
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,781,050,443
<NET-ASSETS> 6,207,352,543
<DIVIDEND-INCOME> 29,843,303
<INTEREST-INCOME> 6,561,439
<OTHER-INCOME> 0
<EXPENSES-NET> (48,165,532)
<NET-INVESTMENT-INCOME> (11,760,790)
<REALIZED-GAINS-CURRENT> 444,899,856
<APPREC-INCREASE-CURRENT> 476,219,781
<NET-CHANGE-FROM-OPS> 909,358,847
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (288,125,446)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 10,638,017
<NUMBER-OF-SHARES-REDEEMED> (6,432,534)
<SHARES-REINVESTED> 7,650,992
<NET-CHANGE-IN-ASSETS> 1,144,782,909
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 381,251,181
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 19,549,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 48,166,000
<AVERAGE-NET-ASSETS> 3,916,440,285
<PER-SHARE-NAV-BEGIN> 36.31
<PER-SHARE-NII> (0.09)
<PER-SHARE-GAIN-APPREC> 6.11
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (2.91)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 39.42
<EXPENSE-RATIO> 1.88
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000812015
<NAME> THE ALLIANCE PORTFOLIOS
<SERIES>
<NUMBER> 013
<NAME> GROWTH FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-START> NOV-01-1997
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 4,501,673,486
<INVESTMENTS-AT-VALUE> 6,308,498,208
<RECEIVABLES> 17,515,777
<ASSETS-OTHER> 1,569,860
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 6,327,583,845
<PAYABLE-FOR-SECURITIES> 16,484,757
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 103,746,545
<TOTAL-LIABILITIES> 120,231,302
<SENIOR-EQUITY> 1,520
<PAID-IN-CAPITAL-COMMON> 4,007,328,592
<SHARES-COMMON-STOCK> 18,526,365
<SHARES-COMMON-PRIOR> 16,500,423
<ACCUMULATED-NII-CURRENT> (11,760,790)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 430,732,778
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,781,050,443
<NET-ASSETS> 6,207,352,543
<DIVIDEND-INCOME> 29,843,303
<INTEREST-INCOME> 6,561,439
<OTHER-INCOME> 0
<EXPENSES-NET> (48,165,532)
<NET-INVESTMENT-INCOME> (11,760,790)
<REALIZED-GAINS-CURRENT> 444,899,856
<APPREC-INCREASE-CURRENT> 476,219,781
<NET-CHANGE-FROM-OPS> 909,358,847
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (48,125,286)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,321,177
<NUMBER-OF-SHARES-REDEEMED> (1,574,832)
<SHARES-REINVESTED> 1,279,597
<NET-CHANGE-IN-ASSETS> 1,144,782,909
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 381,251,181
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 19,549,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 48,166,000
<AVERAGE-NET-ASSETS> 655,162,003
<PER-SHARE-NAV-BEGIN> 36.33
<PER-SHARE-NII> (0.09)
<PER-SHARE-GAIN-APPREC> 6.11
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (2.91)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 39.44
<EXPENSE-RATIO> 1.88
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000812015
<NAME> THE ALLIANCE PORTFOLIOS
<SERIES>
<NUMBER> 014
<NAME> GROWTH FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-START> NOV-01-1997
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 4,501,673,486
<INVESTMENTS-AT-VALUE> 6,308,498,208
<RECEIVABLES> 17,515,777
<ASSETS-OTHER> 1,569,860
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 6,327,583,845
<PAYABLE-FOR-SECURITIES> 16,484,757
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 103,746,545
<TOTAL-LIABILITIES> 120,231,302
<SENIOR-EQUITY> 1,520
<PAID-IN-CAPITAL-COMMON> 4,007,328,592
<SHARES-COMMON-STOCK> 2,901,905
<SHARES-COMMON-PRIOR> 2,295,706
<ACCUMULATED-NII-CURRENT> (11,760,790)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 430,732,778
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,781,050,443
<NET-ASSETS> 6,207,352,543
<DIVIDEND-INCOME> 29,843,303
<INTEREST-INCOME> 6,561,439
<OTHER-INCOME> 0
<EXPENSES-NET> (48,165,532)
<NET-INVESTMENT-INCOME> (11,760,790)
<REALIZED-GAINS-CURRENT> 444,899,856
<APPREC-INCREASE-CURRENT> 476,219,781
<NET-CHANGE-FROM-OPS> 909,358,847
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (7,005,557)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 984,667
<NUMBER-OF-SHARES-REDEEMED> (528,401)
<SHARES-REINVESTED> 149,933
<NET-CHANGE-IN-ASSETS> 1,144,782,909
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 381,251,181
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 19,549,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 48,166,000
<AVERAGE-NET-ASSETS> 119,843,400
<PER-SHARE-NAV-BEGIN> 44.08
<PER-SHARE-NII> 0.12
<PER-SHARE-GAIN-APPREC> 7.50
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (2.91)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 48.79
<EXPENSE-RATIO> .87
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
[DESCRIPTION]Report of 10f-3 Transactions
Securities Purchases in Underwritings Involving
Transactions with Donaldson, Lufkin, & Jenrette Securities Co
Subject to Rule 10f-3 Under the Investment Company Act of 1940
ALLIANCE GROWTH FUND
<TABLE>
10f-3 TRANSACTIONS FOR THE PERIOD OCTOBER 1, 1997 THROUGH APRIL 30, 1998
<CAPTION>
Total
Date Shares Price perPurchased bOffered Purchased Held
Security PurchasedPurchased Share Fund Group (000) By Group Broker(s) 04/30/98
<C> <C> <C> <C> <C> <C> <C> <C> <C>
Spieker Properties 10/29/98 255,000 $38.88 325,600 10,000 3.26% Goldman Sachs 777,200
Teleport Communications 11/06/98 217,000 $45.00 91,200 15,000 0.61% Morgan Stanley 933,400
Boston Properties 01/26/98 327,200 $35.13 848,700 20,000 4.24% Goldman Sachs 327,200
</TABLE>
* Unless otherwise indicated, the securities were part of an issue registered
under the Securities Act of 1933 and offered to the public.
**Indicates the puchase of an Eligible Rule 144A Security.
1) Purchases by all Alliance Funds, including the Fund, may not exceed: (a) if
purchased in an offering than an Eligible Rule 144A Offering, 25% of the
principal amount of the offering of such class; or (b) if purchased in an
Eligible Rule 144A Offering, 25% of the total of (i) the principal amount
of the offering of such class sold by the underwriters or members of the
selling syndicate to qualified institutional buyers, plus (ii) the principal
amount of the offering of such class in any concurrent public offering.
