FORTIS ADVANTAGE PORTFOLIOS INC
NSAR-B, 1997-09-26
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<PAGE>      PAGE  1
000 B000000 07/31/97
000 C000000 0000823344
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 FORTIS ADVANTAGE PORTFOLIOS
001 B000000 811-5355
001 C000000 6127384000
002 A000000 500 BIELENBERG DRIVE
002 B000000 WOODBURY
002 C000000 MN
002 D010000 55125
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  3
007 C010100  1
007 C010200  2
007 C010300  3
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007 C030300 N
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
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008 B00AA01 A
008 C00AA01 801-07877
008 D01AA01 WOODBURY
008 D02AA01 MN
008 D03AA01 55125
011 A00AA01 FORTIS INVESTORS, INC.
011 B00AA01 8-13846
011 C01AA01 WOODBURY
011 C02AA01 MN
011 C03AA01 55125
012 A00AA01 FORTIS ADVISERS, INC.
012 B00AA01 85-07877
012 C01AA01 WOODBURY
012 C02AA01 MN
012 C03AA01 55125
013 A00AA01 KPMG PEAT MARWICK
<PAGE>      PAGE  2
013 B01AA01 MINNEAPOLIS
013 B02AA01 MN
013 B03AA01 55402
015 A00AA01 FIRST NATIONAL BANK OF MINNEAPOLIS
015 B00AA01 C
015 C01AA01 MINNEAPOLIS
015 C02AA01 MN
015 C03AA01 55480
015 E01AA01 X
015 A00AA02 FIRST TRUST CO., INC.
015 B00AA02 S
015 C01AA02 ST. PAUL
015 C02AA02 MN
015 C03AA02 55164
015 E01AA02 X
018  00AA00 Y
019 A00AA00 Y
019 B00AA00   29
019 C00AA00 FORTISFUND
020 A000001 BRIDGE TRADING CO.
020 B000001 43-1034850
020 C000001     11
020 A000002 LAZARD FRERES & CO.
020 B000002 13-5545100
020 C000002      9
020 A000003 DONALDSON, LUFKIN & JENRETTE SECURITIES, INC.
020 B000003 13-2741729
020 C000003      8
020 A000004 DEUTSCHE MORGAN GRENFELL
020 C000004      8
020 A000005 GOLDMAN, SACHS & CO.
020 B000005 13-5108880
020 C000005      7
020 A000006 SCHRODER WERTHEIM & CO., INC.
020 B000006 13-2697272
020 C000006      7
020 A000007 BEAR, STEARNS & CO.
020 B000007 13-3299429
020 C000007      7
020 A000008 MONTGOMERY SECURITIES
020 B000008 94-1701676
020 C000008      6
020 A000009 UST SECURITIES CORP.
020 B000009 22-2413670
020 C000009      5
020 A000010 MORGAN KEEGEN & CO., INC.
020 B000010 64-0474907
020 C000010      5
021  000000      167
022 A000001 FIRST BANK (N.A.)
022 B000001 41-0256395
<PAGE>      PAGE  3
022 C000001    372282
022 D000001    373396
022 A000002 CHASE MANHATTAN
022 B000002 41-0988154
022 C000002    214728
022 D000002    192836
022 A000003 BEAR, STEARNS & CO.
022 B000003 13-3299429
022 C000003    106324
022 D000003     69932
022 A000004 LEHMAN BROTHERS, INC.
022 B000004 13-2518466
022 C000004    128043
022 D000004     20764
022 A000005 DONALDSON, LUFKIN & JENRETTE SECURITIES, INC.
022 B000005 13-2741729
022 C000005     70329
022 D000005     67590
022 A000006 J. P. MORGAN & CO., INC.
022 B000006 13-2625764
022 C000006     41610
022 D000006     73695
022 A000007 FIRST UNION BANK
022 C000007     67056
022 D000007     36863
022 A000008 NATIONS BANK
022 B000008 56-1684171
022 C000008     77681
022 D000008     18781
022 A000009 MENDHAM CAPITAL
022 B000009 22-3165996
022 C000009     30425
022 D000009     56660
022 A000010 PAINE WEBBER, INC.
022 B000010 13-2638166
022 C000010     49073
022 D000010     26115
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023 D000000    1171912
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<PAGE>      PAGE  4
054 C00AA00 Y
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054 F00AA00 N
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024  000300 Y
025 A000301 FIRST BANK (N.A.)
025 B000301 41-0256395
025 C000301 D
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
048 A010300    50000
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048 K010300    50000
048 K020300 0.700
049  000300 N
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<PAGE>      PAGE  7
062 P000300  97.4
062 Q000300   0.0
062 R000300   0.4
063 A000300   0
063 B000300  5.6
064 A000300 N
064 B000300 Y
065  000300 N
066 A000300 N
067  000300 N
068 A000300 N
068 B000300 N
069  000300 N
070 A010300 Y
070 A020300 Y
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070 B020300 N
070 C010300 Y
070 C020300 N
070 D010300 Y
070 D020300 N
070 E010300 Y
070 E020300 N
070 F010300 Y
070 F020300 N
070 G010300 Y
070 G020300 N
070 H010300 Y
070 H020300 N
070 I010300 Y
070 I020300 N
070 J010300 Y
070 J020300 Y
070 K010300 Y
070 K020300 N
070 L010300 Y
070 L020300 Y
070 M010300 Y
070 M020300 N
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070 N020300 Y
070 O010300 Y
070 O020300 N
070 P010300 Y
070 P020300 N
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070 Q020300 N
070 R010300 N
070 R020300 N
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<PAGE>      PAGE  8
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072 X000300     2746
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072AA000300    13591
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<PAGE>      PAGE  9
074 M000300       29
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074 R040300      793
074 S000300        0
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074 U010300    15726
074 U020300    11659
074 V010300     0.00
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074 X000300    14692
074 Y000300        0
075 A000300        0
075 B000300   191753
076  000300     0.00
080 A000300 ICI MUTUAL INSURANCE COMPANY
080 C000300     8000
081 A000300 Y
081 B000300  29
082 A000300 Y
082 B000300       50
083 A000300 N
083 B000300        0
084 A000300 N
084 B000300        0
085 A000300 Y
085 B000300 N
SIGNATURE   TAMARA L. FAGELY                             
TITLE       TREASURER           
 


<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENT OF ASSETS AND LIABILITIES, STATEMENT OF OPERATIONS, AND STATEMENT OF
CHANGES IN NET ASSETS FOUND ON PAGES 11 THROUGH 18 OF THE FORTIS BOND FUNDS
ANNUAL SHAREHOLDER REPORT.
</LEGEND>
<CIK> 0000823344
<NAME> FORTIS ADVANTAGE PORTFOLIOS, INC.
<SERIES>
   <NUMBER> 031
   <NAME> FORTIS HIGH YIELD PORTFOLIO (CLASS A)
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          JUL-31-1997
<PERIOD-START>                             AUG-01-1996
<PERIOD-END>                               JUL-31-1997
<INVESTMENTS-AT-COST>                      206,909,578
<INVESTMENTS-AT-VALUE>                     209,641,488
<RECEIVABLES>                                8,502,472
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                           407,478
<TOTAL-ASSETS>                             218,551,438
<PAYABLE-FOR-SECURITIES>                     3,290,833
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<OTHER-ITEMS-LIABILITIES>                      930,864
<TOTAL-LIABILITIES>                          4,221,697
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<PAID-IN-CAPITAL-COMMON>                   223,140,980
<SHARES-COMMON-STOCK>                       15,725,710
<SHARES-COMMON-PRIOR>                       14,471,302
<ACCUMULATED-NII-CURRENT>                      636,131
<OVERDISTRIBUTION-NII>                               0
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<OVERDISTRIBUTION-GAINS>                             0
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<NET-ASSETS>                               214,329,741
<DIVIDEND-INCOME>                               15,997
<INTEREST-INCOME>                           21,076,834
<OTHER-INCOME>                                  41,587<F1>
<EXPENSES-NET>                             (2,745,907)
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<APPREC-INCREASE-CURRENT>                    2,658,089
<NET-CHANGE-FROM-OPS>                       25,534,760
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                 (11,482,883)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                        (377,686)
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<NUMBER-OF-SHARES-REDEEMED>                (4,007,745)
<SHARES-REINVESTED>                            947,140
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<ACCUMULATED-NII-PRIOR>                        456,376
<ACCUMULATED-GAINS-PRIOR>                 (16,068,495)
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<PER-SHARE-NAV-BEGIN>                             7.56
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<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                            (0.02)
<PER-SHARE-NAV-END>                               7.83
<EXPENSE-RATIO>                                   1.19
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
<FN>
<F1>SECURITY LENDING INCOME THROUGH JULY 31, 1997.
</FN>
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENT OF ASSETS AND LIABILITIES, STATEMENT OF OPERATIONS, AND STATEMENT OF
CHANGES IN NET ASSETS FOUND ON PAGES 11 THROUGH 18 OF THE FORTIS BOND FUNDS
ANNUAL SHAREHOLDER REPORT.
</LEGEND>
<CIK> 0000823344
<NAME> FORTIS ADVANTAGE PORTFOLIOS, INC.
<SERIES>
   <NUMBER> 032
   <NAME> FORTIS HIGH YIELD PORTFOLIO (CLASS B)
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          JUL-31-1997
<PERIOD-START>                             AUG-01-1996
<PERIOD-END>                               JUL-31-1997
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   223,140,980
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<SHARES-COMMON-PRIOR>                        1,596,901
<ACCUMULATED-NII-CURRENT>                      636,131
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<ACCUMULATED-NET-GAINS>                   (12,179,280)
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<NET-ASSETS>                               214,329,741
<DIVIDEND-INCOME>                               15,997
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<OTHER-INCOME>                                  41,587<F1>
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<APPREC-INCREASE-CURRENT>                    2,658,089
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<ACCUMULATED-GAINS-PRIOR>                 (16,068,495)
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<RETURNS-OF-CAPITAL>                            (0.02)
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<EXPENSE-RATIO>                                   1.83
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
<FN>
<F1>SECURITY LENDING INCOME THROUGH JULY 31, 1997.
</FN>
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENT OF ASSETS AND LIABILITIES, STATEMENT OF OPERATIONS, AND STATEMENT OF
CHANGES IN NET ASSETS FOUND ON PAGES 11 THROUGH 18 OF THE FORTIS BOND FUNDS
ANNUAL SHAREHOLDER REPORT.
</LEGEND>
<CIK> 0000823344
<NAME> FORTIS ADVANTAGE PORTFOLIOS, INC.
<SERIES>
   <NUMBER> 033
   <NAME> FORTIS HIGH YIELD PORTFOLIO (CLASS C)
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          JUL-31-1997
<PERIOD-START>                             AUG-01-1996
<PERIOD-END>                               JUL-31-1997
<INVESTMENTS-AT-COST>                      206,909,578
<INVESTMENTS-AT-VALUE>                     209,641,488
<RECEIVABLES>                                8,502,472
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                           407,478
<TOTAL-ASSETS>                             218,551,438
<PAYABLE-FOR-SECURITIES>                     3,290,833
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      930,864
<TOTAL-LIABILITIES>                          4,221,697
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   223,140,980
<SHARES-COMMON-STOCK>                          899,995
<SHARES-COMMON-PRIOR>                          447,741
<ACCUMULATED-NII-CURRENT>                      636,131
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                   (12,179,280)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     2,731,910
<NET-ASSETS>                               214,329,741
<DIVIDEND-INCOME>                               15,997
<INTEREST-INCOME>                           21,076,834
<OTHER-INCOME>                                  41,587<F1>
<EXPENSES-NET>                             (2,745,907)
<NET-INVESTMENT-INCOME>                     18,388,511
<REALIZED-GAINS-CURRENT>                     4,488,160
<APPREC-INCREASE-CURRENT>                    2,658,089
<NET-CHANGE-FROM-OPS>                       25,534,760
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (458,567)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                         (15,083)
<NUMBER-OF-SHARES-SOLD>                        646,824
<NUMBER-OF-SHARES-REDEEMED>                  (236,864)
<SHARES-REINVESTED>                             42,294
<NET-CHANGE-IN-ASSETS>                      50,350,316
<ACCUMULATED-NII-PRIOR>                        456,376
<ACCUMULATED-GAINS-PRIOR>                 (16,068,495)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                        1,388,154
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              2,745,907
<AVERAGE-NET-ASSETS>                       191,753,000
<PER-SHARE-NAV-BEGIN>                             7.55
<PER-SHARE-NII>                                   0.71
<PER-SHARE-GAIN-APPREC>                           0.28
<PER-SHARE-DIVIDEND>                            (0.70)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                            (0.02)
<PER-SHARE-NAV-END>                               7.82
<EXPENSE-RATIO>                                   1.83
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
<FN>
<F1>SECURITY LENDING INCOME THROUGH JULY 31, 1997.
</FN>
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENT OF ASSETS AND LIABILITIES, STATEMENT OF OPERATIONS, AND STATEMENT OF
CHANGES IN NET ASSETS FOUND ON PAGES 11 THROUGH 18 OF THE FORTIS BOND FUNDS
ANNUAL SHAREHOLDER REPORT.
</LEGEND>
<CIK> 0000823344
<NAME> FORTIS ADVANTAGE PORTFOLIOS, INC.
<SERIES>
   <NUMBER> 034
   <NAME> FORTIS HIGH YIELD PORTFOLIO (CLASS H)
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          JUL-31-1997
<PERIOD-START>                             AUG-01-1996
<PERIOD-END>                               JUL-31-1997
<INVESTMENTS-AT-COST>                      206,909,578
<INVESTMENTS-AT-VALUE>                     209,641,488
<RECEIVABLES>                                8,502,472
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                           407,478
<TOTAL-ASSETS>                             218,551,438
<PAYABLE-FOR-SECURITIES>                     3,290,833
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      930,864
<TOTAL-LIABILITIES>                          4,221,697
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   223,140,980
<SHARES-COMMON-STOCK>                        8,153,853
<SHARES-COMMON-PRIOR>                        5,180,668
<ACCUMULATED-NII-CURRENT>                      636,131
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                   (12,179,280)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     2,731,910
<NET-ASSETS>                               214,329,741
<DIVIDEND-INCOME>                               15,997
<INTEREST-INCOME>                           21,076,834
<OTHER-INCOME>                                  41,587<F1>
<EXPENSES-NET>                             (2,745,907)
<NET-INVESTMENT-INCOME>                     18,388,511
<REALIZED-GAINS-CURRENT>                     4,488,160
<APPREC-INCREASE-CURRENT>                    2,658,089
<NET-CHANGE-FROM-OPS>                       25,534,760
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                  (4,774,094)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                        (157,026)
<NUMBER-OF-SHARES-SOLD>                      4,233,141
<NUMBER-OF-SHARES-REDEEMED>                (1,579,066)
<SHARES-REINVESTED>                            319,110
<NET-CHANGE-IN-ASSETS>                      50,350,316
<ACCUMULATED-NII-PRIOR>                        456,376
<ACCUMULATED-GAINS-PRIOR>                 (16,068,495)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                        1,388,154
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              2,745,907
<AVERAGE-NET-ASSETS>                       191,753,000
<PER-SHARE-NAV-BEGIN>                             7.55
<PER-SHARE-NII>                                   0.71
<PER-SHARE-GAIN-APPREC>                           0.28
<PER-SHARE-DIVIDEND>                            (0.70)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                            (0.02)
<PER-SHARE-NAV-END>                               7.82
<EXPENSE-RATIO>                                   1.83
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
<FN>
<F1>SECURITY LENDING INCOME THROUGH JULY 31, 1997.
</FN>
        

</TABLE>

KPMG Peat Marwick LLP
4200 Norwest Center
90 South Seventh Street
Minneapolis MN 55402


Independent Auditors' Report on Internal Accounting
Control

The Board of Directors and Shareholders
Fortis Advantage Portfolios, Inc.:

In planning and performing our audits of the financial
statements of High Yield Portfolio (a portfolio within
Fortis Advantage Portfolios, Inc.) for the year ended
July 31, 1997, we considered their internal control
structure, including procedures 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
the internal control structure.

The management of the Company is responsible for
establishing and maintaining an internal control
structure. In fulfilling this responsibility, estimates
and judgments by management are required to assess the
expected benefits and related costs of internal control
structure policies and procedures. Two of the
objectives of an internal control structure are to
provide management with reasonable, but not absolute,
assurance that assets are safeguarded against loss from
unauthorized use or disposition and that transactions
are executed in accordance with management's
authorization and recorded properly to permit the
preparation of financial statements in conformity with
generally accepted accounting principles.

Because of inherent limitations in any internal control
structure, errors or irregularities may occur and not
be detected. Also, projection of any evaluation of the
structure to future periods is subject to the risk that
it may become inadequate because of changes in
conditions of that the effectiveness of the design and
operation may deteriorate.

Our consideration of the internal control structure
would not necessarily disclose all matters in the
internal control structure 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 the specific internal control structure
elements does not reduce to a relatively low level the
risk that errors or irregularities 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 the internal control
structure, including procedures for safeguarding
securities, that we consider to be material weaknesses
as defined above as of July 31, 1997.

This report is intended solely for the information and
use of management and the Securities and Exchange
Commission.

/s/

KPMG Peat Marwick LLP

Minneapolis Minnesota
September 5, 1997


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