PIC INVESTMENT TRUST
NSAR-B, 1996-12-31
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<PAGE>      PAGE  1
000 B000000 10/31/96
000 C000000 882129
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 PIC INVESTMENT TRUST
001 B000000 811-6498
001 C000000 8184498500
002 A000000 300 NORTH LAKE AVENUE
002 B000000 PASADENA
002 C000000 CA
002 D010000 91101
002 D020000 4106
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  4
007 C010100  1
007 C020100 PIC INSTITUTIONAL BALANCED FUND
007 C030100 N
007 C010200  2
007 C020200 PIC INSTITUTIONAL GROWTH FUND
007 C030200 N
007 C010300  3
007 C020300 PIC INSTITUTIONAL SMALL CAP. FUND
007 C030300 N
007 C010400  4
007 C020400 PIC SMALL CAP. GROWTH FUND
007 C030400 N
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 PROVIDENT INVESTMENT COUNSEL
008 B00AA01 A
008 C00AA01 801-11303
008 D01AA01 PASADENA
008 D02AA01 CA
008 D03AA01 91101
008 D04AA01 4106
010 A00AA01 INVESTMENT COMPANY ADMINISTRATION CORP
010 C01AA01 HACKENSACK
010 C02AA01 NJ
<PAGE>      PAGE  2
010 C03AA01 07601
011 A00AA01 FIRST FUND DISTRIBUTORS, INC.
011 B00AA01 8-42809
011 C01AA01 NEW YORK
011 C02AA01 NY
011 C03AA01 10011
012 A00AA01 PROVIDENT FINANCIAL PROCESSING CORPORATION
012 B00AA01 85-1196
012 C01AA01 WILMINGTON
012 C02AA01 DE
012 C03AA01 19809
013 A00AA01 MCGLADREY & PULLEN
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10036
015 A00AA01 PROVIDENT NATIONAL BANK
015 B00AA01 C
015 C01AA01 WILMINGTON
015 C02AA01 DE
015 C03AA01 19809
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<PAGE>      PAGE  7
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<PAGE>      PAGE  9
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<PAGE>      PAGE  11
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<PAGE>      PAGE  14
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SIGNATURE   ROBERT H. WADSWORTH                          
TITLE       ASSISTANT SECRETARY 
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000882129
<NAME> PIC INVESTMENT TRUST
<SERIES>
   <NUMBER> 1
   <NAME> PIC INSTITUTIONAL BALANCED FUND
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000882129
<NAME> PIC INVESTMENT TRUST
<SERIES>
   <NUMBER> 2
   <NAME> PIC INSTITUTIONAL GROWTH FUND
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000882129
<NAME> PIC INVESTMENT TRUST
<SERIES>
   <NUMBER> 3
   <NAME> PIC INSTITUTIONAL SMALL CAP FUND
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000882129
<NAME> PIC INVESTMENT TRUST
<SERIES>
   <NUMBER> 4
   <NAME> PIC SMALL CAP GROWTH FUND
       
<S>                             <C>
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</TABLE>


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