<PAGE> PAGE 1
000 B000000 08/31/1999
000 C000000 0000812015
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 THE ALLIANCE PORTFOLIOS
001 B000000 811-05088
001 C000000 2013194105
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 4
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
007 C010600 6
007 C010700 7
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
012 C04AA01 1520
<PAGE> PAGE 2
013 A00AA01 PRICEWATERHOUSECOOPERS LLP
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10036
013 B04AA01 2798
014 A00AA01 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
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 51
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 212528
022 D000001 0
022 A000002 GOLDMAN, SACHS & CO.
022 B000002 13-5108880
022 C000002 78344
022 D000002 5899
022 A000003 LEHMAN BROTHERS, INC.
022 B000003 13-2518466
022 C000003 54718
022 D000003 9284
022 A000004 PRUDENTIAL SECURITIES, INC.
022 B000004 22-2347336
022 C000004 59306
022 D000004 600
022 A000005 PAINEWEBBER, INC.
022 B000005 13-2638166
022 C000005 54896
022 D000005 2051
022 A000006 MORGAN STANLEY & CO., INC.
022 B000006 13-2655998
022 C000006 38938
<PAGE> PAGE 3
022 D000006 2120
022 A000007 SALOMON-SMITH BARNEY, INC.
022 B000007 13-1912900
022 C000007 20975
022 D000007 6881
022 A000008 GREENWICH CAPITAL MARKETS, INC.
022 B000008 13-3172275
022 C000008 16086
022 D000008 6603
022 A000009 CS FIRST BOSTON CORP.
022 B000009 13-5659485
022 C000009 9442
022 D000009 7864
022 A000010 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
022 B000010 13-5674085
022 C000010 9830
022 D000010 4626
023 C000000 605650
023 D000000 67652
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
<PAGE> PAGE 4
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
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 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
080 B00AA00 GULF INSURANCE COMPANY, CHUBB
080 C00AA00 98000
081 A00AA00 Y
081 B00AA00 122
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
<PAGE> PAGE 5
086 F020000 0
024 000200 Y
025 A000201 BEAR, STEARNS & CO., INC.
025 B000201 13-3299429
025 C000201 D
025 D000201 1174
025 A000202 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
025 B000202 13-5674085
025 C000202 D
025 D000202 900
025 A000203 SALOMON SMITH BARNEY, INC.
025 B000203 13-1912900
025 C000203 D
025 D000203 236
025 D000204 0
025 D000205 0
025 D000206 0
025 D000207 0
025 D000208 0
028 A010200 7744
028 A020200 94
028 A030200 0
028 A040200 5824
028 B010200 7377
028 B020200 103
028 B030200 0
028 B040200 8763
028 C010200 7447
028 C020200 101
028 C030200 0
028 C040200 5970
028 D010200 6569
028 D020200 106
028 D030200 0
028 D040200 6512
028 E010200 8613
028 E020200 107
028 E030200 0
028 E040200 5598
028 F010200 10314
028 F020200 109
028 F030200 0
028 F040200 8251
028 G010200 48064
028 G020200 620
028 G030200 0
028 G040200 40918
028 H000200 23948
029 000200 Y
030 A000200 144
030 B000200 4.25
<PAGE> PAGE 6
030 C000200 4.25
031 A000200 0
031 B000200 1
032 000200 144
033 000200 0
035 000200 78
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 245
044 000200 414
045 000200 Y
046 000200 N
047 000200 Y
048 000200 0.550
048 A010200 0
048 A020200 0.000
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
<PAGE> PAGE 7
062 D000200 9.3
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 5.6
062 N000200 74.0
062 O000200 0.0
062 P000200 0.0
062 Q000200 28.6
062 R000200 0.0
063 A000200 0
063 B000200 14.8
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
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
<PAGE> PAGE 8
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 101303
071 B000200 63892
071 C000200 30578
071 D000200 209
072 A000200 12
072 B000200 1989
072 C000200 0
072 D000200 0
072 E000200 0
072 F000200 162
072 G000200 0
072 H000200 0
072 I000200 58
072 J000200 108
072 K000200 0
072 L000200 28
072 M000200 15
072 N000200 40
072 O000200 0
072 P000200 46
072 Q000200 0
072 R000200 39
072 S000200 7
072 T000200 244
072 U000200 0
072 V000200 0
072 W000200 4
072 X000200 751
072 Y000200 136
072 Z000200 1374
072AA000200 0
072BB000200 365
072CC010200 0
072CC020200 321
072DD010200 396
072DD020200 1036
072EE000200 0
073 A010200 0.5000
073 A020200 0.4200
073 B000200 0.0000
073 C000200 0.0200
074 A000200 16
<PAGE> PAGE 9
074 B000200 3470
074 C000200 0
074 D000200 40381
074 E000200 0
074 F000200 0
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 5137
074 K000200 9
074 L000200 690
074 M000200 16
074 N000200 49719
074 O000200 10000
074 P000200 45
074 Q000200 0
074 R010200 2103
074 R020200 0
074 R030200 0
074 R040200 251
074 S000200 0
074 T000200 37320
074 U010200 1013
074 U020200 2974
074 V010200 9.26
074 V020200 9.40
074 W000200 0.0000
074 X000200 1346
074 Y000200 0
075 A000200 0
075 B000200 29428
076 000200 0.00
SIGNATURE JOE REZABEK
TITLE ASST. VICE PRESIDENT
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<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> 12-MOS
<FISCAL-YEAR-END> AUG-31-1999
<PERIOD-START> SEP-01-1998
<PERIOD-END> AUG-31-1999
<INVESTMENTS-AT-COST> 44,222,244
<INVESTMENTS-AT-VALUE> 43,851,366
<RECEIVABLES> 5,826,997
<ASSETS-OTHER> 41,000
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 49,719,363
<PAYABLE-FOR-SECURITIES> 10,000,126
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,398,930
<TOTAL-LIABILITIES> 12,399,056
<SENIOR-EQUITY> 40
<PAID-IN-CAPITAL-COMMON> 38,856,102
<SHARES-COMMON-STOCK> 1,013,282
<SHARES-COMMON-PRIOR> 583,743
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (68,608)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (1,116,030)
<ACCUM-APPREC-OR-DEPREC> (351,197)
<NET-ASSETS> 37,320,307
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,988,978
<OTHER-INCOME> 0
<EXPENSES-NET> (614,905)
<NET-INVESTMENT-INCOME> 1,374,073
<REALIZED-GAINS-CURRENT> (365,395)
<APPREC-INCREASE-CURRENT> (320,750)
<NET-CHANGE-FROM-OPS> 687,928
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (396,304)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,693,171
<NUMBER-OF-SHARES-REDEEMED> (3,296,064)
<SHARES-REINVESTED> 32,432
<NET-CHANGE-IN-ASSETS> 15,884,440
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (42,209)
<OVERDIST-NET-GAINS-PRIOR> (750,635)
<GROSS-ADVISORY-FEES> 162,000
<INTEREST-EXPENSE> 46,000
<GROSS-EXPENSE> 751,000
<AVERAGE-NET-ASSETS> 7,226,201
<PER-SHARE-NAV-BEGIN> 9.48
<PER-SHARE-NII> 0.49
<PER-SHARE-GAIN-APPREC> (0.19)
<PER-SHARE-DIVIDEND> (0.50)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.02
<PER-SHARE-NAV-END> 9.26
<EXPENSE-RATIO> 1.40
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<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> 12-MOS
<FISCAL-YEAR-END> AUG-31-1999
<PERIOD-START> SEP-01-1998
<PERIOD-END> AUG-31-1999
<INVESTMENTS-AT-COST> 44,222,244
<INVESTMENTS-AT-VALUE> 43,851,366
<RECEIVABLES> 5,826,997
<ASSETS-OTHER> 41,000
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 49,719,363
<PAYABLE-FOR-SECURITIES> 10,000,126
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,398,930
<TOTAL-LIABILITIES> 12,399,056
<SENIOR-EQUITY> 40
<PAID-IN-CAPITAL-COMMON> 38,856,102
<SHARES-COMMON-STOCK> 2,187,877
<SHARES-COMMON-PRIOR> 1,125,064
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (68,608)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (1,116,030)
<ACCUM-APPREC-OR-DEPREC> (351,197)
<NET-ASSETS> 37,320,307
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,988,978
<OTHER-INCOME> 0
<EXPENSES-NET> (614,905)
<NET-INVESTMENT-INCOME> 1,374,073
<REALIZED-GAINS-CURRENT> (365,395)
<APPREC-INCREASE-CURRENT> (320,750)
<NET-CHANGE-FROM-OPS> 687,928
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (716,173)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,739,933
<NUMBER-OF-SHARES-REDEEMED> (2,734,043)
<SHARES-REINVESTED> 56,923
<NET-CHANGE-IN-ASSETS> 15,884,440
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (42,209)
<OVERDIST-NET-GAINS-PRIOR> (750,635)
<GROSS-ADVISORY-FEES> 162,000
<INTEREST-EXPENSE> 46,000
<GROSS-EXPENSE> 751,000
<AVERAGE-NET-ASSETS> 15,421,003
<PER-SHARE-NAV-BEGIN> 9.62
<PER-SHARE-NII> 0.43
<PER-SHARE-GAIN-APPREC> (0.21)
<PER-SHARE-DIVIDEND> (0.42)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.02
<PER-SHARE-NAV-END> 9.40
<EXPENSE-RATIO> 2.10
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<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> 12-MOS
<FISCAL-YEAR-END> AUG-31-1999
<PERIOD-START> SEP-01-1998
<PERIOD-END> AUG-31-1999
<INVESTMENTS-AT-COST> 44,222,244
<INVESTMENTS-AT-VALUE> 43,851,366
<RECEIVABLES> 5,826,997
<ASSETS-OTHER> 41,000
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 49,719,363
<PAYABLE-FOR-SECURITIES> 10,000,126
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,398,930
<TOTAL-LIABILITIES> 12,399,056
<SENIOR-EQUITY> 40
<PAID-IN-CAPITAL-COMMON> 38,856,102
<SHARES-COMMON-STOCK> 786,147
<SHARES-COMMON-PRIOR> 528,056
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (68,608)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (1,116,030)
<ACCUM-APPREC-OR-DEPREC> (351,197)
<NET-ASSETS> 37,320,307
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,988,978
<OTHER-INCOME> 0
<EXPENSES-NET> (614,905)
<NET-INVESTMENT-INCOME> 1,374,073
<REALIZED-GAINS-CURRENT> (365,395)
<APPREC-INCREASE-CURRENT> (320,750)
<NET-CHANGE-FROM-OPS> 687,928
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (319,926)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,506,231
<NUMBER-OF-SHARES-REDEEMED> (1,274,620)
<SHARES-REINVESTED> 26,480
<NET-CHANGE-IN-ASSETS> 15,884,440
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (42,209)
<OVERDIST-NET-GAINS-PRIOR> (750,635)
<GROSS-ADVISORY-FEES> 162,000
<INTEREST-EXPENSE> 46,000
<GROSS-EXPENSE> 751,000
<AVERAGE-NET-ASSETS> 6,867,578
<PER-SHARE-NAV-BEGIN> 9.61
<PER-SHARE-NII> 0.43
<PER-SHARE-GAIN-APPREC> (0.22)
<PER-SHARE-DIVIDEND> (0.42)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.02
<PER-SHARE-NAV-END> 9.38
<EXPENSE-RATIO> 2.10
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
Report of Independent Accountants
To the Trustees and Shareholders of
Alliance Short-Term U.S. Government Fund
In planning and performing our audit of the financial statements of
Alliance Short-Term U.S. Government Fund (the "Fund") for the year
ended August 31, 1999, 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, errors 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 August 31, 1999.
This report is intended solely for the information and use of management
and the Trustees of the Fund and the Securities and Exchange Commission
and is not intended to be and should not be used by anyone other than
these specified parties.
PricewaterhouseCoopers LLP
New York, NY 10036
October 22, 1999
asdfsdfsdf
asdfasdfds
(2)
c:\temp\1999 nsar_st.doc
