WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000812015
<NAME> THE ALLIANCE PORTFOLIOS
<SERIES>
<NUMBER> 053
<NAME> CONSERVATIVE INVESTORS FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> APR-30-2001
<PERIOD-START> MAY-01-2000
<PERIOD-END> OCT-31-2000
<INVESTMENTS-AT-COST> 65,576,122
<INVESTMENTS-AT-VALUE> 65,476,778
<RECEIVABLES> 915,362
<ASSETS-OTHER> 73,923
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 66,466,063
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 232,763
<TOTAL-LIABILITIES> 232,763
<SENIOR-EQUITY> 57
<PAID-IN-CAPITAL-COMMON> 63,546,059
<SHARES-COMMON-STOCK> 607,818
<SHARES-COMMON-PRIOR> 558,186
<ACCUMULATED-NII-CURRENT> 420,054
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2,298,419
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (31,289)
<NET-ASSETS> 66,233,300
<DIVIDEND-INCOME> 69,217
<INTEREST-INCOME> 1,656,612
<OTHER-INCOME> 0
<EXPENSES-NET> (602,825)
<NET-INVESTMENT-INCOME> 1,123,004
<REALIZED-GAINS-CURRENT> 116,279
<APPREC-INCREASE-CURRENT> (291,889)
<NET-CHANGE-FROM-OPS> 947,394
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (58,187)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 120,902
<NUMBER-OF-SHARES-REDEEMED> (75,925)
<SHARES-REINVESTED> 4,655
<NET-CHANGE-IN-ASSETS> 3,168,839
<ACCUMULATED-NII-PRIOR> (56,854)
<ACCUMULATED-GAINS-PRIOR> 2,182,140
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 244,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 695,000
<AVERAGE-NET-ASSETS> 6,629,292
<PER-SHARE-NAV-BEGIN> 11.58
<PER-SHARE-NII> 0.19
<PER-SHARE-GAIN-APPREC> (0.04)
<PER-SHARE-DIVIDEND> (0.10)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.63
<EXPENSE-RATIO> 2.11
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
