ALLIANCE PORTFOLIOS
NSAR-A, 1998-04-29
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<PAGE>      PAGE  1
000 A000000 02/28/98
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 C010200  2
007 C020200 SHORT TERM U.S. GOVERNMENT FUND
007 C030200 N
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
013 B04AA01 2798
014 A00AA01 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
<PAGE>      PAGE  2
014 B00AA01 8-00017574
015 A00AA01 STATE STREET BANK AND TRUST CO.
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02110
015 E01AA01 X
018  00AA00 Y
019 A00AA00 Y
019 B00AA00   54
019 C00AA00 ALLIANCECA
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 STATE STREET BANK AND TRUST CO.
022 B000001 04-1867445
022 C000001     45475
022 D000001         0
022 A000002 PRUDENTIAL SECURITIES INC.
022 B000002 22-2347336
022 C000002     43091
022 D000002         0
022 A000003 PAINEWEBBER INC.
022 B000003 13-2638166
022 C000003      5658
022 D000003         0
022 A000004 MORGAN STANLEY AND CO., INC.
022 B000004 13-2655998
022 C000004      2345
022 D000004      3039
022 A000005 ABN AMRO SECURITIES
022 C000005      3362
022 D000005      1511
022 A000006 GOLDMAN SACHS & CO.
022 B000006 13-5108880
022 C000006      4059
022 D000006         0
022 A000007 LEHMAN BROTHERS INC.
022 B000007 13-2518466
022 C000007      3429
022 D000007         0
022 A000008 SALOMON BROTHERS INC.
022 B000008 13-3082694
<PAGE>      PAGE  3
022 C000008      3422
022 D000008         0
022 A000009 FEDERAL HOME LOAN MORTGAGE CORP.
022 C000009      1432
022 D000009      1202
022 A000010 BEAR STEARNS & CO., INC.
022 B000010 13-3299429
022 C000010      1149
022 D000010       753
023 C000000     117527
023 D000000       7622
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 Y
053 B00AA00 Y
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 Y
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
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
<PAGE>      PAGE  4
077 A000000 N
078  000000 N
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
080 B00AA00 GULF INSURANCE COMPANY
080 C00AA00    89000
081 A00AA00 Y
081 B00AA00 103
082 A00AA00 N
082 B00AA00        0
083 A00AA00 N
083 B00AA00        0
084 A00AA00 N
084 B00AA00        0
085 A00AA00 Y
085 B00AA00 N
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  000200 Y
025 A000201 BEAR STEARNS & CO., INC.
025 B000201 13-3299429
025 C000201 D
025 D000201     228
025 A000202 SALOMON BROTHERS INC.
025 B000202 13-3082694
025 C000202 D
025 D000202     495
025 D000203       0
025 D000204       0
025 D000205       0
025 D000206       0
025 D000207       0
025 D000208       0
028 A010200       645
028 A020200        48
028 A030200         0
028 A040200      1174
028 B010200      4613
028 B020200        46
028 B030200         0
028 B040200      2075
028 C010200     12585
<PAGE>      PAGE  5
028 C020200        53
028 C030200         0
028 C040200     12781
028 D010200      7314
028 D020200        46
028 D030200         0
028 D040200      6052
028 E010200      1171
028 E020200        50
028 E030200         0
028 E040200      2483
028 F010200      1472
028 F020200        50
028 F030200         0
028 F040200      3124
028 G010200     27800
028 G020200       293
028 G030200         0
028 G040200     27689
028 H000200     21800
029  000200 Y
030 A000200     69
030 B000200  4.25
030 C000200  4.25
031 A000200      3
031 B000200      0
032  000200     65
033  000200      0
035  000200     14
036 B000200      0
037  000200 N
038  000200      0
039  000200 N
040  000200 Y
041  000200 Y
042 A000200   0
042 B000200   0
042 C000200 100
042 D000200   0
042 E000200   0
042 F000200   0
042 G000200   0
042 H000200   0
043  000200     64
044  000200      0
045  000200 Y
046  000200 N
047  000200 Y
048  000200  0.550
048 A010200        0
048 A020200 0.000
<PAGE>      PAGE  6
048 B010200        0
048 B020200 0.000
048 C010200        0
048 C020200 0.000
048 D010200        0
048 D020200 0.000
048 E010200        0
048 E020200 0.000
048 F010200        0
048 F020200 0.000
048 G010200        0
048 G020200 0.000
048 H010200        0
048 H020200 0.000
048 I010200        0
048 I020200 0.000
048 J010200        0
048 J020200 0.000
048 K010200        0
048 K020200 0.000
062 A000200 Y
062 B000200   0.0
062 C000200   0.0
062 D000200   0.0
062 E000200   0.0
062 F000200   0.0
062 G000200   0.0
062 H000200   0.0
062 I000200   0.0
062 J000200   0.0
062 K000200   0.0
062 L000200   0.0
062 M000200   0.0
062 N000200  83.9
062 O000200   0.0
062 P000200   0.0
062 Q000200  37.0
062 R000200   0.0
063 A000200   0
063 B000200 21.0
064 A000200 N
064 B000200 N
066 A000200 N
067  000200 N
068 A000200 N
068 B000200 N
069  000200 N
070 A010200 Y
070 A020200 Y
070 B010200 N
070 B020200 N
<PAGE>      PAGE  7
070 C010200 Y
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 Y
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 Y
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 Y
070 K010200 Y
070 K020200 N
070 L010200 N
070 L020200 N
070 M010200 N
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 Y
070 P010200 Y
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 Y
070 R020200 N
071 A000200     15932
071 B000200     11417
071 C000200     16744
071 D000200   68
072 A000200  6
072 B000200      578
072 C000200        0
072 D000200        0
072 E000200        0
072 F000200       46
072 G000200        0
072 H000200        0
072 I000200       19
072 J000200       48
072 K000200        0
072 L000200       12
072 M000200       10
072 N000200       19
072 O000200        0
<PAGE>      PAGE  8
072 P000200       18
072 Q000200        0
072 R000200       13
072 S000200        4
072 T000200       64
072 U000200        0
072 V000200        0
072 W000200        1
072 X000200      254
072 Y000200       80
072 Z000200      404
072AA000200        0
072BB000200       58
072CC010200        0
072CC020200       29
072DD010200      155
072DD020200      260
072EE000200        0
073 A010200   0.2600
073 A020200   0.2300
073 B000200   0.0000
073 C000200   0.0000
074 A000200       94
074 B000200        0
074 C000200        0
074 D000200    18949
074 E000200        0
074 F000200        0
074 G000200        0
074 H000200        0
074 I000200        0
074 J000200        0
074 K000200       26
074 L000200      117
074 M000200        0
074 N000200    19186
074 O000200        0
074 P000200       32
074 Q000200        0
074 R010200     3405
074 R020200        0
074 R030200        0
074 R040200       72
074 S000200        0
074 T000200    15677
074 U010200      527
074 U020200     1098
074 V010200     9.56
074 V020200     9.69
074 W000200   0.0000
074 X000200      842
<PAGE>      PAGE  9
074 Y000200        0
075 A000200        0
075 B000200    16653
076  000200     0.00
SIGNATURE   CATHY WHITE                                  
TITLE       ASST VICE PRESIDENT 
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000812015
<NAME> THE ALLIANCE PORTFOLIOS
<SERIES>
   <NUMBER> 021
   <NAME> SHORT TERM U.S. GOVERNMENT FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          AUG-31-1998
<PERIOD-START>                             SEP-01-1997
<PERIOD-END>                               FEB-28-1998
<INVESTMENTS-AT-COST>                       18,972,410
<INVESTMENTS-AT-VALUE>                      18,949,500
<RECEIVABLES>                                  142,023
<ASSETS-OTHER>                                  94,262
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              19,185,785
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    3,508,844
<TOTAL-LIABILITIES>                          3,508,844
<SENIOR-EQUITY>                                     16
<PAID-IN-CAPITAL-COMMON>                    16,432,803
<SHARES-COMMON-STOCK>                          527,200
<SHARES-COMMON-PRIOR>                          405,286
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                        (49,727)
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                     (675,187)
<ACCUM-APPREC-OR-DEPREC>                      (30,964)
<NET-ASSETS>                                15,676,941
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                              578,486
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               (174,858)
<NET-INVESTMENT-INCOME>                        403,628
<REALIZED-GAINS-CURRENT>                      (58,382)
<APPREC-INCREASE-CURRENT>                     (29,206)
<NET-CHANGE-FROM-OPS>                          316,040
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (155,209)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      2,289,543
<NUMBER-OF-SHARES-REDEEMED>                (2,177,004)
<SHARES-REINVESTED>                              9,375
<NET-CHANGE-IN-ASSETS>                         305,214
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                    (616,805)
<OVERDISTRIB-NII-PRIOR>                       (38,622)
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           46,000
<INTEREST-EXPENSE>                              18,000
<GROSS-EXPENSE>                                254,000
<AVERAGE-NET-ASSETS>                         5,822,721
<PER-SHARE-NAV-BEGIN>                             9.63
<PER-SHARE-NII>                                   0.25
<PER-SHARE-GAIN-APPREC>                         (0.06)
<PER-SHARE-DIVIDEND>                            (0.26)
<PER-SHARE-DISTRIBUTIONS>                         0.00
<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                               9.56
<EXPENSE-RATIO>                                   1.40
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000812015
<NAME> THE ALLIANCE PORTFOLIOS
<SERIES>
   <NUMBER> 022
   <NAME> SHORT TERM U.S. GOVERNMENT FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          AUG-31-1998
<PERIOD-START>                             SEP-01-1997
<PERIOD-END>                               FEB-28-1998
<INVESTMENTS-AT-COST>                       18,972,410
<INVESTMENTS-AT-VALUE>                      18,949,500
<RECEIVABLES>                                  142,023
<ASSETS-OTHER>                                  94,262
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              19,185,785
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    3,508,844
<TOTAL-LIABILITIES>                          3,508,844
<SENIOR-EQUITY>                                     16
<PAID-IN-CAPITAL-COMMON>                    16,432,803
<SHARES-COMMON-STOCK>                          611,946
<SHARES-COMMON-PRIOR>                          663,066
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                        (49,727)
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                     (675,187)
<ACCUM-APPREC-OR-DEPREC>                      (30,964)
<NET-ASSETS>                                15,676,941
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                              578,486
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               (174,858)
<NET-INVESTMENT-INCOME>                        403,628
<REALIZED-GAINS-CURRENT>                      (58,382)
<APPREC-INCREASE-CURRENT>                     (29,206)
<NET-CHANGE-FROM-OPS>                          316,040
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (150,470)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        400,444
<NUMBER-OF-SHARES-REDEEMED>                  (462,788)
<SHARES-REINVESTED>                             11,224
<NET-CHANGE-IN-ASSETS>                         305,214
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                    (616,805)
<OVERDISTRIB-NII-PRIOR>                       (38,622)
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           46,000
<INTEREST-EXPENSE>                              18,000
<GROSS-EXPENSE>                                254,000
<AVERAGE-NET-ASSETS>                         6,488,153
<PER-SHARE-NAV-BEGIN>                             9.74
<PER-SHARE-NII>                                   0.23
<PER-SHARE-GAIN-APPREC>                         (0.05)
<PER-SHARE-DIVIDEND>                            (0.23)
<PER-SHARE-DISTRIBUTIONS>                         0.00
<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                               9.69
<EXPENSE-RATIO>                                   2.10
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000812015
<NAME> THE ALLIANCE PORTFOLIOS
<SERIES>
   <NUMBER> 023
   <NAME> SHORT TERM U.S. GOVERNMENT FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          AUG-31-1998
<PERIOD-START>                             SEP-01-1997
<PERIOD-END>                               FEB-28-1998
<INVESTMENTS-AT-COST>                       18,972,410
<INVESTMENTS-AT-VALUE>                      18,949,500
<RECEIVABLES>                                  142,023
<ASSETS-OTHER>                                  94,262
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              19,185,785
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    3,508,844
<TOTAL-LIABILITIES>                          3,508,844
<SENIOR-EQUITY>                                     16
<PAID-IN-CAPITAL-COMMON>                    16,432,803
<SHARES-COMMON-STOCK>                          486,415
<SHARES-COMMON-PRIOR>                          515,118
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                        (49,727)
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                     (675,187)
<ACCUM-APPREC-OR-DEPREC>                      (30,964)
<NET-ASSETS>                                15,676,941
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                              578,486
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               (174,858)
<NET-INVESTMENT-INCOME>                        403,628
<REALIZED-GAINS-CURRENT>                      (58,382)
<APPREC-INCREASE-CURRENT>                     (29,206)
<NET-CHANGE-FROM-OPS>                          316,040
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (109,054)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        198,803
<NUMBER-OF-SHARES-REDEEMED>                  (237,191)
<SHARES-REINVESTED>                              9,685
<NET-CHANGE-IN-ASSETS>                         305,214
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                    (616,805)
<OVERDISTRIB-NII-PRIOR>                       (38,622)
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           46,000
<INTEREST-EXPENSE>                              18,000
<GROSS-EXPENSE>                                254,000
<AVERAGE-NET-ASSETS>                         4,696,296
<PER-SHARE-NAV-BEGIN>                             9.73
<PER-SHARE-NII>                                   0.22
<PER-SHARE-GAIN-APPREC>                         (0.04)
<PER-SHARE-DIVIDEND>                            (0.23)
<PER-SHARE-DISTRIBUTIONS>                         0.00
<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                               9.68
<EXPENSE-RATIO>                                   2.10
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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