<PAGE> PAGE 1
000 A000000 01/31/98
000 C000000 0000812015
000 D000000 N
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001 A000000 THE ALLIANCE PORTFOLIOS
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001 C000000 2013194000
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002 D010000 07094
003 000000 N
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007 B000000 5
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007 C010200 2
007 C010300 3
007 C020300 STRATEGIC BALANCED FUND
007 C030300 N
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
013 B04AA01 2798
014 A00AA01 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
<PAGE> PAGE 2
014 B00AA01 8-00017574
014 A00AA02 DELETE
014 A00AA03 DELETE
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 54
019 C00AA00 ALLIANCECA
020 A000001 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
020 B000001 13-5674085
020 C000001 15
020 A000002 LEHMAN BROTHERS INC.
020 B000002 13-2518466
020 C000002 4
020 A000003 MORGAN STANLEY & CO., INC.
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020 C000003 4
020 A000004 GOLDMAN, SACHS & CO.
020 B000004 13-5108880
020 C000004 4
020 A000005 SALOMON BROTHERS INC.
020 B000005 13-3082694
020 C000005 3
020 A000006 S.G. WARBURG SECURITIES CO., INC.
020 B000006 13-3340045
020 C000006 3
020 A000007 MORGAN (J.P.) SECURITIES, INC.
020 B000007 13-3224016
020 C000007 3
020 A000008 BROWN (ALEX) & SONS INC.
020 B000008 52-1319768
020 C000008 2
020 A000009 SMITH BARNEY INC.
020 B000009 13-1912900
020 C000009 2
020 A000010 BARCLAYS DE ZEOTE WEDD SECURITIES INC.
020 B000010 13-3551367
020 C000010 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
054 G00AA00 N
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 N
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
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054 O00AA00 N
055 A00AA00 N
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080 A00AA00 ICI MUTUAL INSURANCE COMPANY
080 B00AA00 GULF INSURANCE COMPANY
080 C00AA00 86000
081 A00AA00 Y
081 B00AA00 103
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083 A00AA00 N
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<PAGE> PAGE 5
086 A020000 0
086 B010000 0
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086 D010000 0
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086 E010000 0
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015 A000301 STATE STREET BANK AND TRUST CO.
015 B000301 C
015 C010301 BOSTON
015 C020301 MA
015 C030301 02110
015 E010301 X
024 000300 Y
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025 B000301 13-5674085
025 C000301 E
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025 A000302 MORGAN STANLEY & CO., INC.
025 B000302 13-2655998
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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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<PAGE> PAGE 10
SIGNATURE CATHY WHITE
TITLE ASST. VICE PRESIDENT
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<CIK> 0000812015
<NAME> THE ALLIANCE PORTFOLIOS
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<NAME> STRATEGIC BALANCED FUND
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</TABLE>
THE ALLIANCE PORTFOLIOS
- - Strategic Balanced Fund
N-SAR
77.I
In 1996, the Fund issued a new class of shares, Advisor Class
shares. Advisor Class shares, along with Class A, Class B, Class C
shares each represent an interest in the same portfolio of
investments of the Fund, have the same rights and are identical in
all respects, except that (i) Class A shares bear the expense of the
initial sales charge (or contingent deferred sales charge, when
applicable) and Class B and Class C shares bear the expense of the
deferred sales charge, (ii) Class B shares and Class C shares each
bear the expense of a higher distribution services fee than that
borne by Class A shares, and Advisor Class shares do not bear such a
fee, (iii) Class B and Class C shares bear higher transfer agency
costs than that borne by Class A and Advisor Class shares; (iv) each
of Class A, Class B and Class C has exclusive voting rights with
respect to provisions of the Rule 12b-1 Plan pursuant to which its
distribution services fee is paid and other matters for which
separate class voting is appropriate under applicable law, provided
that, if the Fund submits to a vote of the Class A shareholders, an
amendment to the Rule 12b-1 Plan that would materially increase the
amount to be paid thereunder with respect to the Class A shares,
then such amendment will also be submitted to the Class B and
Advisor Class shareholders and the Class A, the Class B and the
Advisor Class shareholders will vote separately by class; and
(v) Class B and Advisor Class shares are subject to a conversion
feature. Each class has different exchange privileges and certain
different shareholder service options available.
77.Q1
(1)(a) Agreement and Declaration of Trust of the
Registrant - Incorporated by reference (filed as Exhibit 1(a) to
Post-Effective Amendment No. 28 of Registration Statement on Form N-
1A, filed January 30, 1998 - File Nos. 33-12988 and 811-5088).
(b) Amendment No. 1 to Agreement and Declaration of
Trust of the Registrant - Incorporated by reference (filed as
Exhibit 1(b) to Post-Effective Amendment No. 28 of Registration
Statement on Form N-1A, filed January 30, 1998 - File Nos. 33-12988
and 811-5088).
(c) Amendment No. 2 to Agreement and Declaration of
Trust of the Registrant - Incorporated by reference (filed as
Exhibit 1(c) to Post-Effective Amendment No. 28 of Registration
Statement on Form N-1A, filed January 30, 1998 - File Nos. 33-12988
and 811-5088).
(2)(a) By-Laws - Incorporated by reference (filed as
Exhibit 2(a) to Post-Effective Amendment No. 26 of Registration
Statement on Form N-1A, filed August 28, 1997 - File Nos. 33-12988
and 811-5088).
(b) Amendment to By-Laws - Incorporated by reference
(filed as Exhibit 2(b) to Post-Effective Amendment No. 26 of
Registration Statement on Form N-1A, filed August 28, 1997 - File
Nos. 33-12988 and 811-5088).
Investment Advisory Agreement between the Registrant and Alliance
Capital Management L.P. - Incorporated by reference (filed as
Exhibit 5 to Post-Effective Amendment No. 26 of Registration
Statement on Form N-1A, filed August 28, 1997 - File Nos. 33-12988
and 811-5088).
