<PAGE> PAGE 1
000 B000000 10/31/98
000 C000000 0000812015
000 D000000 N
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000 F000000 Y
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000 J000000 U
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
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007 C010500 5
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007 C010800 8
007 C010900 9
007 C011000 10
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 PRICEWATERHOUSECOOPERS LLP
<PAGE> PAGE 2
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10036
014 A00AA01 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
014 B00AA01 8-00017574
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
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019 C00AA00 ALLIANCECA
020 A000001 MERRILL LYNCH PIERCE FENNER & SMITH
020 B000001 13-5674085
020 C000001 632
020 A000002 MORGAN STANLEY AND CO., INC.
020 B000002 13-2655998
020 C000002 554
020 A000003 LEHMAN BROTHERS INC.
020 B000003 13-2518466
020 C000003 489
020 A000004 SALOMON SMITH BARNEY INC.
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020 C000004 459
020 A000005 GOLDMAN SACHS & CO.
020 B000005 13-5108880
020 C000005 449
020 A000006 C.J. LAWRENCE
020 C000006 359
020 A000007 PAINE WEBBER INC.
020 B000007 13-2638166
020 C000007 343
020 A000008 MORGAN, J.P., SECURITIES INC.
020 B000008 13-3224016
020 C000008 210
020 A000009 PRUDENTIAL SECURITIES INC.
020 B000009 22-2347336
020 C000009 204
020 A000010 BT ALEX BROWN INC.
020 B000010 52-1319768
020 C000010 179
021 000000 6416
022 A000001 AUBREY LANSTON & CO. INC.
022 B000001 13-5552129
022 C000001 20521095
022 D000001 70404
022 A000002 LEHMAN BROTHERS INC.
022 B000002 13-2518466
<PAGE> PAGE 3
022 C000002 733688
022 D000002 434464
022 A000003 MORGAN, J.P., SECURITIES INC.
022 B000003 13-3224016
022 C000003 1006158
022 D000003 40669
022 A000004 MORGAN STANLEY AND CO., INC.
022 B000004 13-2655998
022 C000004 464437
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022 C000005 637398
022 D000005 303753
022 A000006 STATE STREET BANK AND TRUST CO.
022 B000006 04-1867445
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022 B000008 13-3082694
022 C000008 83239
022 D000008 289467
022 A000009 MERRILL LYNCH PIERCE FENNER & SMITH
022 B000009 13-5674085
022 C000009 223709
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022 C000010 167722
022 D000010 39926
023 C000000 25933451
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049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
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<PAGE> PAGE 4
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 Y
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 Y
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077 F000000 N
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077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
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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, CHAUBB
080 C00AA00 95000
081 A00AA00 Y
081 B00AA00 131
082 A00AA00 N
082 B00AA00 0
083 A00AA00 N
<PAGE> PAGE 5
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 000100 N
025 A000101 DELETE
025 D000101 0
025 D000102 0
025 D000103 0
025 D000104 0
025 D000105 0
025 D000106 0
025 D000107 0
025 D000108 0
028 A010100 136164
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028 A040100 84802
028 B010100 149422
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<PAGE> PAGE 6
028 G010100 860567
028 G020100 33
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030 C000100 4.25
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035 000100 4000
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042 C000100 100
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048 B010100 1000000
048 B020100 0.700
048 C010100 1000000
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<PAGE> PAGE 7
048 H020100 0.000
048 I010100 0
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048 J010100 0
048 J020100 0.000
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048 K020100 0.600
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070 D020100 N
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<PAGE> PAGE 8
070 G020100 N
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070 M010100 Y
070 M020100 Y
070 N010100 Y
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070 O020100 N
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070 P020100 N
070 Q010100 Y
070 Q020100 N
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071 A000100 4144330
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072 T000100 50546
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072 X000100 105175
<PAGE> PAGE 9
072 Y000100 637
072 Z000100 -39676
072AA000100 602069
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072CC010100 138250
072CC020100 0
072DD010100 0
072DD020100 0
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073 A020100 0.0000
073 B000100 2.9100
073 C000100 0.0000
074 A000100 121
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074 C000100 195356
074 D000100 38328
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074 F000100 5990768
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074 O000100 131275
074 P000100 4796
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074 R030100 32388
074 R040100 14590
074 S000100 0
074 T000100 6132283
074 U010100 21371
074 U020100 133400
074 V010100 47.17
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SIGNATURE CATHY WHITE
TITLE VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000812015
<NAME> THE ALLIANCE PORTFOLIOS
<SERIES>
<NUMBER> 011
<NAME> GROWTH FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-START> NOV-01-1997
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 4,777,656,168
<INVESTMENTS-AT-VALUE> 6,224,452,236
<RECEIVABLES> 90,418,177
<ASSETS-OTHER> 461,827
<OTHER-ITEMS-ASSETS> 0
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<OTHER-ITEMS-LIABILITIES> 51,774,227
<TOTAL-LIABILITIES> 183,049,203
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<PAID-IN-CAPITAL-COMMON> 4,141,396,771
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<SHARES-COMMON-PRIOR> 17,816,215
<ACCUMULATED-NII-CURRENT> (56,767)
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<ACCUMULATED-NET-GAINS> 547,860,680
<OVERDISTRIBUTION-GAINS> 0
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<NET-ASSETS> 6,132,283,037
<DIVIDEND-INCOME> 55,315,657
<INTEREST-INCOME> 9,546,213
<OTHER-INCOME> 0
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<NET-INVESTMENT-INCOME> (39,676,467)
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<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (52,161,977)
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<NUMBER-OF-SHARES-SOLD> 15,838,421
<NUMBER-OF-SHARES-REDEEMED> (13,387,711)
<SHARES-REINVESTED> 1,103,597
<NET-CHANGE-IN-ASSETS> 1,069,713,403
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 381,251,181
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 41,034,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 105,175,000
<AVERAGE-NET-ASSETS> 931,359,298
<PER-SHARE-NAV-BEGIN> 43.95
<PER-SHARE-NII> (0.05)
<PER-SHARE-GAIN-APPREC> 6.18
<PER-SHARE-DIVIDEND> 0.00
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000812015
<NAME> THE ALLIANCE PORTFOLIOS
<SERIES>
<NUMBER> 012
<NAME> GROWTH FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-START> NOV-01-1997
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 4,777,656,168
<INVESTMENTS-AT-VALUE> 6,224,452,236
<RECEIVABLES> 90,418,177
<ASSETS-OTHER> 461,827
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 6,315,332,240
<PAYABLE-FOR-SECURITIES> 131,274,976
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 51,774,227
<TOTAL-LIABILITIES> 183,049,203
<SENIOR-EQUITY> 1,548
<PAID-IN-CAPITAL-COMMON> 4,141,396,771
<SHARES-COMMON-STOCK> 110,889,404
<SHARES-COMMON-PRIOR> 98,548,974
<ACCUMULATED-NII-CURRENT> (56,767)
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<ACCUMULATED-NET-GAINS> 547,860,680
<OVERDISTRIBUTION-GAINS> 0
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<NET-ASSETS> 6,132,283,037
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<INTEREST-INCOME> 9,546,213
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<EXPENSES-NET> (104,538,337)
<NET-INVESTMENT-INCOME> (39,676,467)
<REALIZED-GAINS-CURRENT> 601,623,658
<APPREC-INCREASE-CURRENT> 138,250,143
<NET-CHANGE-FROM-OPS> 700,197,334
<EQUALIZATION> 0
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<DISTRIBUTIONS-OF-GAINS> (288,101,646)
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<NUMBER-OF-SHARES-SOLD> 20,547,117
<NUMBER-OF-SHARES-REDEEMED> (15,858,032)
<SHARES-REINVESTED> 7,651,345
<NET-CHANGE-IN-ASSETS> 1,069,713,403
<ACCUMULATED-NII-PRIOR> 0
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<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 41,034,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 105,175,000
<AVERAGE-NET-ASSETS> 4,088,130,120
<PER-SHARE-NAV-BEGIN> 36.31
<PER-SHARE-NII> (0.31)
<PER-SHARE-GAIN-APPREC> 5.06
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (2.91)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 38.15
<EXPENSE-RATIO> 1.94
<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> 12-MOS
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<PERIOD-START> NOV-01-1997
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 4,777,656,168
<INVESTMENTS-AT-VALUE> 6,224,452,236
<RECEIVABLES> 90,418,177
<ASSETS-OTHER> 461,827
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 6,315,332,240
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<TOTAL-LIABILITIES> 183,049,203
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<NET-INVESTMENT-INCOME> (39,676,467)
<REALIZED-GAINS-CURRENT> 601,623,658
<APPREC-INCREASE-CURRENT> 138,250,143
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<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (48,125,286)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,951,688
<NUMBER-OF-SHARES-REDEEMED> (3,903,263)
<SHARES-REINVESTED> 1,279,996
<NET-CHANGE-IN-ASSETS> 1,069,713,403
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 381,251,181
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 41,034,000
<INTEREST-EXPENSE> 0
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<PER-SHARE-NII> (0.31)
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<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 38.17
<EXPENSE-RATIO> 1.93
<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> 12-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-START> NOV-01-1997
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 4,777,656,168
<INVESTMENTS-AT-VALUE> 6,224,452,236
<RECEIVABLES> 90,418,177
<ASSETS-OTHER> 461,827
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 6,315,332,240
<PAYABLE-FOR-SECURITIES> 131,274,976
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 51,774,227
<TOTAL-LIABILITIES> 183,049,203
<SENIOR-EQUITY> 1,548
<PAID-IN-CAPITAL-COMMON> 4,141,396,771
<SHARES-COMMON-STOCK> 3,681,413
<SHARES-COMMON-PRIOR> 2,295,706
<ACCUMULATED-NII-CURRENT> (56,767)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 547,860,680
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,443,080,805
<NET-ASSETS> 6,132,283,037
<DIVIDEND-INCOME> 55,315,657
<INTEREST-INCOME> 9,546,213
<OTHER-INCOME> 0
<EXPENSES-NET> (104,538,337)
<NET-INVESTMENT-INCOME> (39,676,467)
<REALIZED-GAINS-CURRENT> 601,623,658
<APPREC-INCREASE-CURRENT> 138,250,143
<NET-CHANGE-FROM-OPS> 700,197,334
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (7,005,557)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,358,835
<NUMBER-OF-SHARES-REDEEMED> (1,123,061)
<SHARES-REINVESTED> 149,933
<NET-CHANGE-IN-ASSETS> 1,069,713,403
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 381,251,181
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 41,034,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 105,175,000
<AVERAGE-NET-ASSETS> 132,384,084
<PER-SHARE-NAV-BEGIN> 44.08
<PER-SHARE-NII> 0.08
<PER-SHARE-GAIN-APPREC> 6.22
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (2.91)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 47.47
<EXPENSE-RATIO> 0.93
<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 Corporation
Subject to Rule 10f-3 Under the Investment Company Act of 1940
ALLIANCE GROWTH FUND
<TABLE>
10f-3 TRANSACTIONS FOR THE PERIOD NOVEMBER 30, 1997
<CAPTION>
Total
Shares Shares % of Issue Shares
Date Shares % of FundPrice perPurchased bIssued Purchased Held
Security PurchasedPurchasedAssets Share Fund Group (000) By Group Broker(s) 11/30/97
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Teleport Comm. Group 11/06/97 217,000 0.00% $45.00 351,200 15,000 2.34% Morgan Stanley #########
</TABLE>
<TABLE>
10f-3 TRANSACTIONS FOR THE PERIOD DECEMBER 1,1997 THROUGH FEBRUARY 28,1998
<CAPTION>
Total
Date Shares % of FundPrice perPurchased bIssued Purchased Held
Security PurchasedPurchasedAssets Share Fund Group (000) By Group Broker(s) 02/28/98
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Boston Properties 01/26/98 327,200 0.00% $35.13 848,700 20,000 4.24% Goldman Sachs 327,200
</TABLE>
<TABLE>
10f-3 TRANSACTIONS FOR THE PERIOD MARCH 1, 1998 THROUGH MAY 31, 1998
<CAPTION>
Total
Date Shares % of FundPrice perPurchased bIssued Purchased Held
Security PurchasedPurchasedAssets Share Fund Group (000) By Group Broker(s) 05/31/98
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
</TABLE>
<TABLE>
10f-3 TRANSACTIONS FOR THE PERIOD JUNE 1, 1998 THROUGH AUGUST 31, 1998
<CAPTION>
Total
Date Shares % of FundPrice perPurchased bIssued Purchased Held
Security PurchasedPurchasedAssets Share Fund Group (000) By Group Broker(s) 08/31/98
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Loral Space & Communicatio06/24/98 717,000 0.00% $27.00 778,800 6,700 11.62% Lehman Brothers #########
</TABLE>
<TABLE>
10f-3 TRANSACTIONS FOR THE PERIOD SEPTEMBER 1, 1998 THROUGH OCTOBER 30, 1998
<CAPTION>
Total
Date Shares % of FundPrice perPurchased bIssued Purchased Held
Security PurchasedPurchasedAssets Share Fund Group (000) By Group Broker(s) 10/30/98
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
</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 purchase of an Eligible Rule 144A Security.
1) Purchases by all Alliance Funds, including the Fund, may not exceed: (a) if
purchased in an offering other 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 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.
Report of Independent Accountants
To the Shareholders and Trustees of Alliance Growth Fund
In planning and performing our audit of the financial statements of
Alliance Growth Fund (the "Fund") for the year ended October 31, 1998, we
considered its internal control, including control activities 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 internal control.
The management of the Fund is responsible for establishing and
maintaining internal control. In fulfilling this responsibility,
estimates and judgments by management are required to assess the expected
benefits and related costs of controls. Generally, controls that are
relevant to an audit pertain to the entity's objective of preparing
financial statements for external purposes that are fairly presented in
conformity with generally accepted accounting principles. Those controls
include the safeguarding of assets against unauthorized acquisition, use
or disposition.
Because of inherent limitations in internal control, error or fraud may
occur and not be detected. Also, projection of any evaluation of
internal control 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 internal control would not necessarily disclose all
matters in internal control 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 one or more of the internal control components does not
reduce to a relatively low level the risk that misstatements caused by
error or fraud in amounts that would be material in relation to the
financial statements being audited may occur and not be detected within a
timely period by employees in the normal course of performing their
assigned functions. However, we noted no matters involving internal
control and its operation, including controls for safeguarding
securities, that we consider to be material weaknesses as defined above
as of October 31, 1998.
This report is intended solely for the information and use of management,
the trustees of the Fund, and the Securities and Exchange Commission.
PricewaterhouseCoopers LLP
New York, NY 10036
December 15, 1998
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\\mf_new4_01\pacherx\home\growth-n.doc
THE ALLIANCE PORTFOLIOS Exhibit 77C
811-5088
A Special Meeting of Shareholders of The Alliance Portfolios, Inc. was
held on July 6, 1998. A description of each proposal and number of
shares voted by all portfolios, including Alliance Alliance Growth Fund,
at the meeting are as follows:
1. To Elect Directors: Shares Voted For Withheld Authority
Class Three Directors
(term expires 2000)
John D. Carifa 88,209,875 1,097,787
Ruth Block 88,157,156 1,150,506
Richard W. Couper 88,116,482 1,191,180
William H. Foulk, Jr. 88,199,965 1,107,697
Brenton W. Harries 88,159,545 1,148,116
Donald J. Robinson 88,164,577 1,143,085
2. To ratify the selection Shares Shares Voted Shares
of PricewaterhouseCoopers Voted For Against Abstained
LLP as the Funds'
Independent auditors for
the Funds' fiscal year
ending April 30, 1998. 87,739,869 344,023 1,223,766
