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008 C000501 801-19502
008 D010501 NEW YORK
008 D020501 NY
008 D030501 10020
028 A010500 1196152
028 A020500 0
028 A030500 0
028 A040500 1176476
028 B010500 977370
028 B020500 4053
028 B030500 0
028 B040500 790033
028 C010500 668260
028 C020500 3962
028 C030500 0
028 C040500 702555
028 D010500 765781
028 D020500 3875
028 D030500 0
<PAGE> PAGE 21
028 D040500 764598
028 E010500 878131
028 E020500 4628
028 E030500 0
028 E040500 700183
028 F010500 178007
028 F020500 4776
028 F030500 0
028 F040500 1888713
028 G010500 4663701
028 G020500 21294
028 G030500 0
028 G040500 6022558
028 H000500 0
045 000500 Y
046 000500 N
047 000500 Y
048 000500 0.150
048 A010500 0
048 A020500 0.000
048 B010500 0
048 B020500 0.000
048 C010500 0
048 C020500 0.000
048 D010500 0
048 D020500 0.000
048 E010500 0
048 E020500 0.000
048 F010500 0
048 F020500 0.000
048 G010500 0
048 G020500 0.000
048 H010500 0
048 H020500 0.000
048 I010500 0
048 I020500 0.000
048 J010500 0
048 J020500 0.000
048 K010500 0
048 K020500 0.000
058 A000500 N
059 000500 Y
060 A000500 Y
060 B000500 Y
061 000500 0
062 A000500 Y
062 B000500 0.0
062 C000500 0.0
062 D000500 0.0
062 E000500 0.0
062 F000500 0.0
<PAGE> PAGE 22
062 G000500 0.0
062 H000500 0.0
062 I000500 0.0
062 J000500 0.0
062 K000500 0.0
062 L000500 0.0
062 M000500 0.0
062 N000500 0.0
062 O000500 0.0
062 P000500 0.0
062 Q000500 0.0
062 R000500 0.0
063 A000500 0
063 B000500 0.0
064 A000500 N
064 B000500 N
070 A010500 N
070 A020500 N
070 B010500 N
070 B020500 N
070 C010500 N
070 C020500 N
070 D010500 N
070 D020500 N
070 E010500 N
070 E020500 N
070 F010500 N
070 F020500 N
070 G010500 N
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 N
070 J020500 N
070 K010500 N
070 K020500 N
070 L010500 N
070 L020500 N
070 M010500 N
070 M020500 N
070 N010500 Y
070 N020500 N
070 O010500 Y
070 O020500 N
070 P010500 Y
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 N
<PAGE> PAGE 23
070 R020500 N
071 A000500 0
071 B000500 0
071 C000500 0
071 D000500 0
072 A000500 6
072 B000500 34575
072 C000500 0
072 D000500 0
072 E000500 0
072 F000500 988
072 G000500 476
072 H000500 0
072 I000500 2305
072 J000500 199
072 K000500 0
072 L000500 10
072 M000500 7
072 N000500 116
072 O000500 0
072 P000500 0
072 Q000500 11
072 R000500 12
072 S000500 25
072 T000500 0
072 U000500 2
072 V000500 0
072 W000500 16
072 X000500 4167
072 Y000500 200
072 Z000500 30608
072AA000500 460
072BB000500 445
072CC010500 0
072CC020500 0
072DD010500 30608
072DD020500 0
072EE000500 79
073 A010500 0.0200
073 A020500 0.0000
073 B000500 0.0000
073 C000500 0.0000
074 A000500 0
074 B000500 0
074 C000500 0
074 D000500 0
074 E000500 0
074 F000500 0
074 G000500 0
074 H000500 0
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<PAGE> PAGE 24
074 J000500 0
074 K000500 0
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074 M000500 0
074 N000500 0
074 O000500 0
074 P000500 0
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
074 R040500 0
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074 U010500 0
074 U020500 0
074 V010500 0.00
074 V020500 0.00
074 W000500 0.0000
074 X000500 0
074 Y000500 0
075 A000500 1532605
075 B000500 0
076 000500 0.00
008 A000601 THE PORTFOLIO GROUP, INC.
008 B000601 A
008 C000601 801-19502
008 D010601 NEW YORK
008 D020601 NY
008 D030601 10020
028 A010600 1394826
028 A020600 0
028 A030600 0
028 A040600 1461777
028 B010600 1244682
028 B020600 4058
028 B030600 0
028 B040600 1393238
028 C010600 822414
028 C020600 3676
028 C030600 0
028 C040600 785904
028 D010600 1386339
028 D020600 3196
028 D030600 0
028 D040600 1383123
028 E010600 1352508
028 E020600 3473
028 E030600 0
028 E040600 1214262
028 F010600 125332
<PAGE> PAGE 25
028 F020600 3466
028 F030600 0
028 F040600 1769495
028 G010600 6326101
028 G020600 17869
028 G030600 0
028 G040600 8007799
028 H000600 0
045 000600 Y
046 000600 N
047 000600 Y
048 000600 0.150
048 A010600 0
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048 B010600 0
048 B020600 0.000
048 C010600 0
048 C020600 0.000
048 D010600 0
048 D020600 0.000
048 E010600 0
048 E020600 0.000
048 F010600 0
048 F020600 0.000
048 G010600 0
048 G020600 0.000
048 H010600 0
048 H020600 0.000
048 I010600 0
048 I020600 0.000
048 J010600 0
048 J020600 0.000
048 K010600 0
048 K020600 0.000
058 A000600 N
059 000600 Y
060 A000600 Y
060 B000600 Y
061 000600 0
062 A000600 Y
062 B000600 0.0
062 C000600 0.0
062 D000600 0.0
062 E000600 0.0
062 F000600 0.0
062 G000600 0.0
062 H000600 0.0
062 I000600 0.0
062 J000600 0.0
062 K000600 0.0
062 L000600 0.0
<PAGE> PAGE 26
062 M000600 0.0
062 N000600 0.0
062 O000600 0.0
062 P000600 0.0
062 Q000600 0.0
062 R000600 0.0
063 A000600 0
063 B000600 0.0
064 A000600 N
064 B000600 N
070 A010600 Y
070 A020600 Y
070 B010600 N
070 B020600 N
070 C010600 N
070 C020600 N
070 D010600 N
070 D020600 N
070 E010600 N
070 E020600 N
070 F010600 N
070 F020600 N
070 G010600 N
070 G020600 N
070 H010600 N
070 H020600 N
070 I010600 N
070 I020600 N
070 J010600 N
070 J020600 N
070 K010600 N
070 K020600 N
070 L010600 N
070 L020600 N
070 M010600 N
070 M020600 N
070 N010600 Y
070 N020600 N
070 O010600 Y
070 O020600 N
070 P010600 Y
070 P020600 N
070 Q010600 N
070 Q020600 N
070 R010600 N
070 R020600 N
071 A000600 0
071 B000600 0
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071 D000600 0
072 A000600 6
<PAGE> PAGE 27
072 B000600 36524
072 C000600 0
072 D000600 0
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072 F000600 1031
072 G000600 497
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072 X000600 4309
072 Y000600 253
072 Z000600 32468
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074 B000600 0
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<PAGE> PAGE 28
074 P000600 0
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SIGNATURE JOHN J. PILEGGI
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 5
<NAME> THE 100% US TREASURY SECURITIES MONEY MARKET FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1996
<PERIOD-END> MAY-31-1996
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 1337563
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<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 34575
<OTHER-INCOME> 0
<EXPENSES-NET> 3967
<NET-INVESTMENT-INCOME> 30608
<REALIZED-GAINS-CURRENT> 16
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 30624
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 30608
<DISTRIBUTIONS-OF-GAINS> 79
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4663701
<NUMBER-OF-SHARES-REDEEMED> 6022558
<SHARES-REINVESTED> 21294
<NET-CHANGE-IN-ASSETS> (1337626)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (14)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 988
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4167
<AVERAGE-NET-ASSETS> 1532605
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.020
<PER-SHARE-GAIN-APPREC> 0
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<PER-SHARE-DISTRIBUTIONS> 0
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<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0.60
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 2
<NAME> THE CASH MANAGEMENT FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1996
<PERIOD-END> MAY-31-1996
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
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<OTHER-ITEMS-ASSETS> 0
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<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 1634493
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 36187
<OTHER-INCOME> 0
<EXPENSES-NET> 3906
<NET-INVESTMENT-INCOME> 32281
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 32281
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 32281
<DISTRIBUTIONS-OF-GAINS> 25
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5190716
<NUMBER-OF-SHARES-REDEEMED> 6844747
<SHARES-REINVESTED> 19538
<NET-CHANGE-IN-ASSETS> (1634518)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 977
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4109
<AVERAGE-NET-ASSETS> 1517551
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.021
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0.021
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 1.00
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0.60
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 1
<NAME> THE GOVERNMENT MONEY MARKET FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1996
<PERIOD-END> MAY-31-1996
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 1551998
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 37927
<OTHER-INCOME> 0
<EXPENSES-NET> 4279
<NET-INVESTMENT-INCOME> 33648
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 33648
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 33648
<DISTRIBUTIONS-OF-GAINS> 116
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 7016390
<NUMBER-OF-SHARES-REDEEMED> 8588337
<SHARES-REINVESTED> 19948
<NET-CHANGE-IN-ASSETS> (1552115)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1039
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4502
<AVERAGE-NET-ASSETS> 1614216
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.021
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0.021
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 1.00
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0.62
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 4
<NAME> THE NEW YORK TAX FREE MONEY MARKET FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1996
<PERIOD-END> MAY-31-1996
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 252669
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4302
<OTHER-INCOME> 0
<EXPENSES-NET> 727
<NET-INVESTMENT-INCOME> 3575
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 3575
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 3575
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 36
<NUMBER-OF-SHARES-SOLD> 368812
<NUMBER-OF-SHARES-REDEEMED> 623374
<SHARES-REINVESTED> 1894
<NET-CHANGE-IN-ASSETS> (252704)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (48)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 186
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 768
<AVERAGE-NET-ASSETS> 288898
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.013
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0.013
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 1.00
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0.59
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 3
<NAME> THE TAX FREE MONEY MARKET FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1996
<PERIOD-END> MAY-31-1996
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<RECEIVABLES> 0
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<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
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<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 314512
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 5521
<OTHER-INCOME> 0
<EXPENSES-NET> 886
<NET-INVESTMENT-INCOME> 4635
<REALIZED-GAINS-CURRENT> (7)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 4628
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 4635
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 314
<NUMBER-OF-SHARES-SOLD> 571557
<NUMBER-OF-SHARES-REDEEMED> 888006
<SHARES-REINVESTED> 1937
<NET-CHANGE-IN-ASSETS> (314833)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (46)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 229
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 940
<AVERAGE-NET-ASSETS> 356144
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.014
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0.014
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 1.00
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0.58
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 6
<NAME> THE US TREASURY MONEY MARKET FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1996
<PERIOD-END> MAY-31-1996
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<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
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<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
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<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 1663829
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<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 36524
<OTHER-INCOME> 0
<EXPENSES-NET> 4056
<NET-INVESTMENT-INCOME> 32468
<REALIZED-GAINS-CURRENT> 5
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 32473
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 32471
<DISTRIBUTIONS-OF-GAINS> 102
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6326101
<NUMBER-OF-SHARES-REDEEMED> 8007799
<SHARES-REINVESTED> 17869
<NET-CHANGE-IN-ASSETS> (1663929)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
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<GROSS-ADVISORY-FEES> 1031
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4309
<AVERAGE-NET-ASSETS> 1590044
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.020
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0.020
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 1.00
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0.59
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
