<PAGE> PAGE 1
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001 A000000 THE PARK AVENUE PORTFOLIO
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<PAGE> PAGE 11
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074 R020600 0
074 R030600 0
074 R040600 185
074 S000600 0
074 T000600 67632
074 U010600 67632
074 U020600 0
074 V010600 0.00
074 V020600 0.00
074 W000600 1.0000
074 X000600 4007
074 Y000600 0
075 A000600 62826
075 B000600 0
076 000600 0.00
SIGNATURE FRANK L. PEPE
TITLE VICE PRESIDENT CONTR
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial data extracted from the
"Seminannual Report to Shareholders" dated June 30, 1995, and is qualified in
its entirety by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 03
<NAME> THE GUARDIAN ASSET ALLOCATION FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 54,977,427
<INVESTMENTS-AT-VALUE> 61,719,559
<RECEIVABLES> 806,165
<ASSETS-OTHER> 351
<OTHER-ITEMS-ASSETS> 9,928
<TOTAL-ASSETS> 62,536,003
<PAYABLE-FOR-SECURITIES> 976,149
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 258,297
<TOTAL-LIABILITIES> 1,234,446
<SENIOR-EQUITY> 52,394
<PAID-IN-CAPITAL-COMMON> 54,443,613
<SHARES-COMMON-STOCK> 5,239,353
<SHARES-COMMON-PRIOR> 5,363,902
<ACCUMULATED-NII-CURRENT> 627,050
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (563,632)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 6,742,132
<NET-ASSETS> 61,301,557
<DIVIDEND-INCOME> 237,573
<INTEREST-INCOME> 744,570
<OTHER-INCOME> 0
<EXPENSES-NET> 368,087
<NET-INVESTMENT-INCOME> 614,056
<REALIZED-GAINS-CURRENT> 674,060
<APPREC-INCREASE-CURRENT> 6,444,608
<NET-CHANGE-FROM-OPS> 7,732,724
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 308,379
<NUMBER-OF-SHARES-REDEEMED> 432,714
<SHARES-REINVESTED> (214)
<NET-CHANGE-IN-ASSETS> (6,426,563)
<ACCUMULATED-NII-PRIOR> 10,092
<ACCUMULATED-GAINS-PRIOR> (1,237,692)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 185,644
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 368,087
<AVERAGE-NET-ASSETS> 57,498,283
<PER-SHARE-NAV-BEGIN> 10.98
<PER-SHARE-NII> .28
<PER-SHARE-GAIN-APPREC> (.52)
<PER-SHARE-DIVIDEND> (.28)
<PER-SHARE-DISTRIBUTIONS> (.23)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.23
<EXPENSE-RATIO> 1.30
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains financial information extracted from the "Semiannual
Report to Shareholders" dated June 30, 1995, and is qualified in its entirety by
reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 02
<NAME> THE GUARDIAN BALLIE GIFFORD INTERNATIONAL FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 38,161,501
<INVESTMENTS-AT-VALUE> 41,209,452
<RECEIVABLES> 317,030
<ASSETS-OTHER> 176
<OTHER-ITEMS-ASSETS> 131,973
<TOTAL-ASSETS> 41,658,631
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 263,499
<TOTAL-LIABILITIES> 263,499
<SENIOR-EQUITY> 31,636
<PAID-IN-CAPITAL-COMMON> 38,618,443
<SHARES-COMMON-STOCK> 3,163,454
<SHARES-COMMON-PRIOR> 2,886,733
<ACCUMULATED-NII-CURRENT> 134,753
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (463,750)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,074,050
<NET-ASSETS> 41,395,132
<DIVIDEND-INCOME> 526,011
<INTEREST-INCOME> 45,004
<OTHER-INCOME> 0
<EXPENSES-NET> 436,262
<NET-INVESTMENT-INCOME> 134,753
<REALIZED-GAINS-CURRENT> (665,672)
<APPREC-INCREASE-CURRENT> 917,086
<NET-CHANGE-FROM-OPS> 386,167
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 777,787
<NUMBER-OF-SHARES-REDEEMED> 501,068
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 3,853,003
<ACCUMULATED-NII-PRIOR> 27,938
<ACCUMULATED-GAINS-PRIOR> 98,806
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 157,477
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 436,262
<AVERAGE-NET-ASSETS> 39,367,051
<PER-SHARE-NAV-BEGIN> 13.19
<PER-SHARE-NII> .01
<PER-SHARE-GAIN-APPREC> (.09)
<PER-SHARE-DIVIDEND> (.01)
<PER-SHARE-DISTRIBUTIONS> (.09)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.01
<EXPENSE-RATIO> 1.91
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains financial information extracted from the "Semiannual
Report to Shareholders" dated June 30, 1995, and is qualified in its entirety
by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 06
<NAME> THE GUARDIAN CASH MANAGEMENT FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 67,475,397
<INVESTMENTS-AT-VALUE> 67,475,397
<RECEIVABLES> 465,882
<ASSETS-OTHER> 1,078
<OTHER-ITEMS-ASSETS> 16,543
<TOTAL-ASSETS> 67,958,900
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 327,313
<TOTAL-LIABILITIES> 327,313
<SENIOR-EQUITY> 676,316
<PAID-IN-CAPITAL-COMMON> 66,955,271
<SHARES-COMMON-STOCK> 67,631,587
<SHARES-COMMON-PRIOR> 56,730,249
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 67,631,587
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,875,131
<OTHER-INCOME> 0
<EXPENSES-NET> 264,819
<NET-INVESTMENT-INCOME> 1,610,312
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 1,610,312
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,610,312
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 60,868,461
<NUMBER-OF-SHARES-REDEEMED> 51,540,663
<SHARES-REINVESTED> 1,573,539
<NET-CHANGE-IN-ASSETS> 10,901,338
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 155,776
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 372,318
<AVERAGE-NET-ASSETS> 62,826,439
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .034
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.034)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .87
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains financial information extracted from the "Semiannual
Report to Shareholders" dated June 30, 1995, and is qualified in its entirety by
reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 04
<NAME> THE GUARDIAN INVESTMENT QUALITY BOND FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 56,328,036
<INVESTMENTS-AT-VALUE> 57,239,057
<RECEIVABLES> 613,690
<ASSETS-OTHER> 351
<OTHER-ITEMS-ASSETS> 10,017
<TOTAL-ASSETS> 57,863,115
<PAYABLE-FOR-SECURITIES> 5,076,467
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 230,408
<TOTAL-LIABILITIES> 5,306,875
<SENIOR-EQUITY> 53,927
<PAID-IN-CAPITAL-COMMON> 53,648,941
<SHARES-COMMON-STOCK> 5,401,389
<SHARES-COMMON-PRIOR> 4,767,972
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (2,057,649)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 911,021
<NET-ASSETS> 52,556,240
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,662,444
<OTHER-INCOME> 58,721
<EXPENSES-NET> 169,021
<NET-INVESTMENT-INCOME> 1,552,144
<REALIZED-GAINS-CURRENT> 162,929
<APPREC-INCREASE-CURRENT> 2,966,726
<NET-CHANGE-FROM-OPS> 4,681,799
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,552,144
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 935,391
<NUMBER-OF-SHARES-REDEEMED> 454,821
<SHARES-REINVESTED> 152,848
<NET-CHANGE-IN-ASSETS> 9,069,526
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (2,220,578)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 119,573
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 280,917
<AVERAGE-NET-ASSETS> 47,896,881
<PER-SHARE-NAV-BEGIN> 10.04
<PER-SHARE-NII> .46
<PER-SHARE-GAIN-APPREC> (.90)
<PER-SHARE-DIVIDEND> (.46)
<PER-SHARE-DISTRIBUTIONS> (.02)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.12
<EXPENSE-RATIO> 1.46
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains financial information extracted from the "Semiannual
Report to Shareholders" dated June 30, 1995, and is qualified in its entirety to
such financial statments.
</LEGEND>
<SERIES>
<NUMBER> 01
<NAME> THE GUARDIAN PARK AVENUE FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 618,692,970
<INVESTMENTS-AT-VALUE> 820,691,329
<RECEIVABLES> 13,084,351
<ASSETS-OTHER> 3,886
<OTHER-ITEMS-ASSETS> 786
<TOTAL-ASSETS> 833,780,352
<PAYABLE-FOR-SECURITIES> 11,329,057
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,177,990
<TOTAL-LIABILITIES> 13,508,047
<SENIOR-EQUITY> 253,118
<PAID-IN-CAPITAL-COMMON> 601,203,305
<SHARES-COMMON-STOCK> 25,311,609
<SHARES-COMMON-PRIOR> 23,834,332
<ACCUMULATED-NII-CURRENT> 3,465,264
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 13,352,259
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 201,998,359
<NET-ASSETS> 820,272,305
<DIVIDEND-INCOME> 5,018,107
<INTEREST-INCOME> 1,510,207
<OTHER-INCOME> 32,672
<EXPENSES-NET> 2,981,182
<NET-INVESTMENT-INCOME> 3,579,804
<REALIZED-GAINS-CURRENT> 11,640,891
<APPREC-INCREASE-CURRENT> 121,347,447
<NET-CHANGE-FROM-OPS> 136,568,142
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,523,629
<NUMBER-OF-SHARES-REDEEMED> 2,046,722
<SHARES-REINVESTED> 370
<NET-CHANGE-IN-ASSETS> 179,355,278
<ACCUMULATED-NII-PRIOR> 81,001
<ACCUMULATED-GAINS-PRIOR> 1,512,395
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,792,542
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,981,182
<AVERAGE-NET-ASSETS> 721,165,824
<PER-SHARE-NAV-BEGIN> 28.63
<PER-SHARE-NII> .31
<PER-SHARE-GAIN-APPREC> (.72)
<PER-SHARE-DIVIDEND> (.31)
<PER-SHARE-DISTRIBUTIONS> (1.02)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 26.89
<EXPENSE-RATIO> .84
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted fron the
"Semiannual Report to Shareholders" dated June 30, 1995, and is qualified in its
entirety by reference to such financial statments.
</LEGEND>
<SERIES>
<NUMBER> 05
<NAME> THE GUARDIAN TAX-EXEMPT SECURITIES FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 16,781,396
<INVESTMENTS-AT-VALUE> 16,405,628
<RECEIVABLES> 273,101
<ASSETS-OTHER> 176
<OTHER-ITEMS-ASSETS> 113,259
<TOTAL-ASSETS> 16,792,164
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 61,750
<TOTAL-LIABILITIES> 61,750
<SENIOR-EQUITY> 18,052
<PAID-IN-CAPITAL-COMMON> 18,140,328
<SHARES-COMMON-STOCK> 1,805,246
<SHARES-COMMON-PRIOR> 1,801,494
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1,052,198)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (375,768)
<NET-ASSETS> 16,730,414
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 470,469
<OTHER-INCOME> 0
<EXPENSES-NET> 61,345
<NET-INVESTMENT-INCOME> 409,124
<REALIZED-GAINS-CURRENT> (54,617)
<APPREC-INCREASE-CURRENT> 774,479
<NET-CHANGE-FROM-OPS> 1,128,986
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 409,124
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 58,748
<NUMBER-OF-SHARES-REDEEMED> 96,656
<SHARES-REINVESTED> 41,660
<NET-CHANGE-IN-ASSETS> 763,372
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (2,220,578)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 40,896
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 138,549
<AVERAGE-NET-ASSETS> 16,437,892
<PER-SHARE-NAV-BEGIN> 10.20
<PER-SHARE-NII> .40
<PER-SHARE-GAIN-APPREC> (1.30)
<PER-SHARE-DIVIDEND> (.40)
<PER-SHARE-DISTRIBUTIONS> (.04)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 8.86
<EXPENSE-RATIO> 1.09
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
