<PAGE> PAGE 1
000 A000000 06/30/96
000 C000000 0000884463
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 BT PYRAMID MUTUAL FUNDS
001 B000000 811-45973
001 C000000 8164354372
002 A000000 127 W.10TH
002 B000000 KANSAS CITY
002 C000000 MO
002 D010000 64105
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 2
007 C010100 1
007 C020100 INVESTMENT MONEY MARKET FUND
007 C030100 N
007 C010200 2
007 C020200 EQUITY 500 INDEX FUND
007 C030200 N
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
007 C011100 11
007 C011200 12
007 C011300 13
007 C011400 14
007 C011500 15
007 C011600 16
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
007 C012100 21
007 C012200 22
007 C012300 23
007 C012400 24
007 C012500 25
<PAGE> PAGE 2
007 C012600 26
007 C012700 27
007 C012800 28
007 C012900 29
007 C013000 30
010 A00AA01 BANKERS TRUST COMPANY
010 C01AA01 NEW YORK
010 C02AA01 NY
010 C03AA01 10006
011 A00AA01 SIGNATURE BROKER-DEALER SECURITIES, INC
011 B00AA01 8-41134
011 C01AA01 BOSTON
011 C02AA01 MA
011 C03AA01 02116
012 A00AA01 BANKERS TRUST COMPANY
012 B00AA01 84-XXXXXXX
012 C01AA01 NEW YORK
012 C02AA01 NY
012 C03AA01 10006
013 A00AA01 COOPERS AND LYBRAND
013 B01AA01 KANSAS CITY
013 B02AA01 MO
013 B03AA01 64105
013 B04AA01 1716
015 A00AA01 BANKERS TRUST COMPANY
015 B00AA01 C
015 C01AA01 NEW YORK
015 C02AA01 NY
015 C03AA01 10017
015 E03AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 52
019 C00AA00 BTTINFUNDS
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 0
022 A000001 CASH MANAGEMENT PORTFOLIO
022 B000001 04-3086682
022 C000001 3111440
022 D000001 3288959
022 A000002 EQUITY 500 INDEX PORTFOLIO
022 B000002 04-3148831
<PAGE> PAGE 3
022 C000002 61510
022 D000002 37910
022 C000003 0
022 D000003 0
022 C000004 0
022 D000004 0
022 C000005 0
022 D000005 0
022 C000006 0
022 D000006 0
022 C000007 0
022 D000007 0
022 C000008 0
022 D000008 0
022 C000009 0
022 D000009 0
022 C000010 0
022 D000010 0
023 C000000 3172950
023 D000000 3326869
024 00AA00 N
025 D00AA01 0
025 D00AA02 0
025 D00AA03 0
025 D00AA04 0
025 D00AA05 0
025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
026 A000000 N
026 B000000 N
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
029 00AA00 N
030 A00AA00 0
030 B00AA00 0.00
030 C00AA00 0.00
031 A00AA00 0
031 B00AA00 0
032 00AA00 0
033 00AA00 0
034 00AA00 N
035 00AA00 0
036 B00AA00 0
037 00AA00 N
<PAGE> PAGE 4
038 00AA00 0
039 00AA00 N
040 00AA00 Y
041 00AA00 N
042 A00AA00 0
042 B00AA00 0
042 C00AA00 0
042 D00AA00 0
042 E00AA00 0
042 F00AA00 0
042 G00AA00 0
042 H00AA00 0
043 00AA00 0
044 00AA00 0
045 00AA00 N
048 00AA00 0.000
048 A01AA00 0
048 A02AA00 0.000
048 B01AA00 0
048 B02AA00 0.000
048 C01AA00 0
048 C02AA00 0.000
048 D01AA00 0
048 D02AA00 0.000
048 E01AA00 0
048 E02AA00 0.000
048 F01AA00 0
048 F02AA00 0.000
048 G01AA00 0
048 G02AA00 0.000
048 H01AA00 0
048 H02AA00 0.000
048 I01AA00 0
048 I02AA00 0.000
048 J01AA00 0
048 J02AA00 0.000
048 K01AA00 0
048 K02AA00 0.000
055 A00AA00 N
055 B00AA00 N
056 00AA00 N
057 00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 20000
062 A00AA00 N
062 B00AA00 0.0
062 C00AA00 0.0
062 D00AA00 0.0
<PAGE> PAGE 5
062 E00AA00 0.0
062 F00AA00 0.0
062 G00AA00 0.0
062 H00AA00 0.0
062 I00AA00 0.0
062 J00AA00 0.0
062 K00AA00 0.0
062 L00AA00 0.0
062 M00AA00 0.0
062 N00AA00 0.0
062 O00AA00 0.0
062 P00AA00 0.0
062 Q00AA00 0.0
062 R00AA00 0.0
063 A00AA00 0
063 B00AA00 0.0
077 A000000 N
078 000000 N
080 C00AA00 0
081 A00AA00 N
081 B00AA00 0
082 A00AA00 N
082 B00AA00 0
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
028 A010100 826198
028 A020100 0
028 A030100 0
028 A040100 709526
028 B010100 493714
028 B020100 2968
028 B030100 0
028 B040100 666721
028 C010100 538625
028 C020100 2395
<PAGE> PAGE 6
028 C030100 0
028 C040100 465510
028 D010100 531993
028 D020100 2471
028 D030100 0
028 D040100 653150
028 E010100 365061
028 E020100 2026
028 E030100 0
028 E040100 400367
028 F010100 355832
028 F020100 3808
028 F030100 0
028 F040100 390507
028 G010100 3111423
028 G020100 13668
028 G030100 0
028 G040100 3285781
028 H000100 0
066 A000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
070 A020100 N
070 B010100 N
070 B020100 N
070 C010100 N
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 N
070 J020100 N
070 K010100 Y
070 K020100 Y
070 L010100 Y
070 L020100 N
070 M010100 N
070 M020100 N
070 N010100 Y
<PAGE> PAGE 7
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 Y
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 0
071 B000100 0
071 C000100 0
071 D000100 0
072 A000100 6
072 B000100 0
072 C000100 0
072 D000100 0
072 E000100 16197
072 F000100 0
072 G000100 918
072 H000100 0
072 I000100 0
072 J000100 0
072 K000100 0
072 L000100 9
072 M000100 3
072 N000100 14
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 1
072 S000100 2
072 T000100 0
072 U000100 0
072 V000100 0
072 W000100 6
072 X000100 953
072 Y000100 433
072 Z000100 15676
072AA000100 12
072BB000100 0
072CC010100 0
072CC020100 0
072DD010100 15676
072DD020100 0
072EE000100 0
073 A010100 0.0254
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 A000100 0
<PAGE> PAGE 8
074 B000100 0
074 C000100 0
074 D000100 0
074 E000100 0
074 F000100 0
074 G000100 0
074 H000100 0
074 I000100 486111
074 J000100 0
074 K000100 0
074 L000100 50
074 M000100 16
074 N000100 486177
074 O000100 0
074 P000100 50
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 333
074 S000100 0
074 T000100 485794
074 U010100 486160
074 U020100 0
074 V010100 1.00
074 V020100 0.00
074 W000100 0.9992
074 X000100 385
074 Y000100 0
075 A000100 615289
075 B000100 0
076 000100 0.00
028 A010200 7979
028 A020200 0
028 A030200 0
028 A040200 4621
028 B010200 13515
028 B020200 0
028 B030200 0
028 B040200 4787
028 C010200 11486
028 C020200 0
028 C030200 0
028 C040200 7641
028 D010200 11584
028 D020200 1451
028 D030200 0
028 D040200 6530
028 E010200 5843
028 E020200 0
028 E030200 0
<PAGE> PAGE 9
028 E040200 4452
028 F010200 11153
028 F020200 0
028 F030200 0
028 F040200 5735
028 G010200 61560
028 G020200 1451
028 G030200 0
028 G040200 33766
028 H000200 0
066 A000200 Y
066 B000200 N
066 C000200 N
066 D000200 N
066 E000200 N
066 F000200 N
066 G000200 Y
067 000200 N
068 A000200 N
068 B000200 N
069 000200 Y
070 A010200 Y
070 A020200 N
070 B010200 Y
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 Y
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 Y
070 F020200 N
070 G010200 Y
070 G020200 N
070 H010200 Y
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
070 K020200 Y
070 L010200 Y
070 L020200 N
070 M010200 Y
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 N
<PAGE> PAGE 10
070 P010200 Y
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 0
071 B000200 0
071 C000200 0
071 D000200 0
072 A000200 6
072 B000200 0
072 C000200 0
072 D000200 0
072 E000200 3381
072 F000200 0
072 G000200 460
072 H000200 0
072 I000200 0
072 J000200 0
072 K000200 0
072 L000200 11
072 M000200 3
072 N000200 13
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 4
072 S000200 2
072 T000200 0
072 U000200 0
072 V000200 0
072 W000200 2
072 X000200 495
072 Y000200 265
072 Z000200 3151
072AA000200 1191
072BB000200 0
072CC010200 24216
072CC020200 0
072DD010200 1473
072DD020200 0
072EE000200 0
073 A010200 0.0693
073 A020200 0.0000
073 B000200 0.0000
073 C000200 0.0000
074 A000200 0
074 B000200 0
074 C000200 0
074 D000200 0
<PAGE> PAGE 11
074 E000200 0
074 F000200 0
074 G000200 0
074 H000200 0
074 I000200 332206
074 J000200 0
074 K000200 0
074 L000200 1335
074 M000200 14
074 N000200 333555
074 O000200 0
074 P000200 40
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 45
074 S000200 0
074 T000200 333470
074 U010200 22050
074 U020200 0
074 V010200 15.12
074 V020200 0.00
074 W000200 0.0000
074 X000200 106
074 Y000200 0
075 A000200 0
075 B000200 308312
076 000200 0.00
SIGNATURE JOHN R. ELDER
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the
BT Investment Money Market Fund Semiannual Report dated June 30, 1996, and
is qualified in its entirety by reference to such Semiannual Report.
</LEGEND>
<CIK> 0000884463
<NAME> PYRAMID
<SERIES>
<NUMBER> 1
<NAME> INVESTMENT MONEY MARKET FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 486110688
<INVESTMENTS-AT-VALUE> 486110688
<RECEIVABLES> 50000
<ASSETS-OTHER> 16118
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 486176806
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 382677
<TOTAL-LIABILITIES> 382677
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 486159981
<SHARES-COMMON-STOCK> 486159981
<SHARES-COMMON-PRIOR> 646850037
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (365852)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 485794129
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 0
<OTHER-INCOME> 16196805
<EXPENSES-NET> 520138
<NET-INVESTMENT-INCOME> 15676667
<REALIZED-GAINS-CURRENT> 11909
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 15688576
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 15676667
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3111422555
<NUMBER-OF-SHARES-REDEEMED> 3285781192
<SHARES-REINVESTED> 13668581
<NET-CHANGE-IN-ASSETS> (160116143)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (377761)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 953609
<AVERAGE-NET-ASSETS> 615289372
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .03
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> .03
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 35
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the
BT Investment Equity 500 Index Fund Semiannual Report dated June 30, 1996,
and is qualified in its entirety by reference to such Semiannual Report.
</LEGEND>
<CIK> 0000884463
<NAME> PYRAMID
<SERIES>
<NUMBER> 2
<NAME> EQUITY 500 INDEX FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 332206043
<INVESTMENTS-AT-VALUE> 332206043
<RECEIVABLES> 1334526
<ASSETS-OTHER> 14514
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 333555083
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 85421
<TOTAL-LIABILITIES> 85421
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 244049862
<SHARES-COMMON-STOCK> 22050078
<SHARES-COMMON-PRIOR> 20048015
<ACCUMULATED-NII-CURRENT> 1679864
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (771274)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 88511210
<NET-ASSETS> 333469662
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 0
<OTHER-INCOME> 3381418
<EXPENSES-NET> 229981
<NET-INVESTMENT-INCOME> 3151437
<REALIZED-GAINS-CURRENT> 1190796
<APPREC-INCREASE-CURRENT> 24215819
<NET-CHANGE-FROM-OPS> 28558052
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1473323
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4227598
<NUMBER-OF-SHARES-REDEEMED> 2324450
<SHARES-REINVESTED> 98915
<NET-CHANGE-IN-ASSETS> 56329772
<ACCUMULATED-NII-PRIOR> 1750
<ACCUMULATED-GAINS-PRIOR> 1962070
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 495135
<AVERAGE-NET-ASSETS> 308312449
<PER-SHARE-NAV-BEGIN> 13.82
<PER-SHARE-NII> .15
<PER-SHARE-GAIN-APPREC> 1.22
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> .07
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.12
<EXPENSE-RATIO> 25
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
