<PAGE> PAGE 1
000 B000000 12/31/97
000 C000000 0000887155
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 GROWTH STOCK PORTFOLIO
001 B000000 811-6647
001 C000000 6147667000
002 A000000 6000 MEMORIAL DRIVE
002 B000000 DUBLIN
002 C000000 OH
002 D010000 43017
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 R. MEEDER & ASSOCIATES, INC.
008 B000001 A
008 C000001 801-9839
008 D010001 DUBLIN
008 D020001 OH
008 D030001 43017
008 A000002 SECTOR CAPITAL MANAGEMENT
008 B000002 S
008 C000002 801-48119
008 D010002 MEMPHIS
008 D020002 TN
008 D030002 38119
010 A000001 MUTUAL FUNDS SERVICE CO.
010 B000001 84-1441
010 C010001 DUBLIN
010 C020001 OH
010 C030001 43017
012 A000001 MUTUAL FUNDS SERVICE CO.
012 B000001 84-1441
<PAGE> PAGE 2
012 C010001 DUBLIN
012 C020001 OH
012 C030001 43017
013 A000001 KPMG PEAT MARWICK LLP
013 B010001 COLUMBUS
013 B020001 OH
013 B030001 43215
014 A000001 ADVISOR DEALER SERVICES
014 B000001 8-47374
015 A000001 STAR BANK, N.A., CINCINNATI
015 B000001 C
015 C010001 CINCINNATI
015 C020001 OH
015 C030001 45202
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 7
019 C000000 FLEX-FUNDS
020 A000001 MERRILL LYNCH
020 C000001 37
020 A000002 NEWBRIDGE SECURITIES
020 C000002 12
020 A000003 DONALDSON & CO.,INC
020 C000003 6
020 A000004 BEAR STEARNS & CO.
020 C000004 4
020 A000005 MORGAN KEEGAN
020 C000005 3
020 A000006 FSC SECURITIES
020 C000006 3
020 A000007 JEFFERIES
020 C000007 3
020 A000008 U.S. CLEARING
020 C000008 3
020 A000009 FIDELTY
020 C000009 2
020 A000010 DLJ
020 C000010 2
021 000000 101
022 A000001 MERRILL LYNCH
022 C000001 243753
022 D000001 604
022 A000002 PAINEWEBBER
022 C000002 219742
022 D000002 89
022 A000003 PRUDENTIAL BACHE
022 C000003 111396
022 D000003 135
022 A000004 SMITH BARNEY
022 C000004 89306
<PAGE> PAGE 3
022 D000004 34
022 A000005 EVEREN SECURITIES
022 C000005 62086
022 D000005 0
022 A000006 BEAR STEARNS & CO
022 C000006 34326
022 D000006 84
022 A000007 DRESDNER SECURITIES
022 C000007 16869
022 D000007 0
022 A000008 STAR BANK
022 C000008 8269
022 D000008 50
022 A000009 GOLDMAN SACHS
022 C000009 475
022 D000009 166
022 A000010 DEUSTCHE MORGAN GRENFELL
022 C000010 298
022 D000010 188
023 C000000 793683
023 D000000 2937
024 000000 Y
025 A000001 MERRILL LYNCH
025 C000001 E
025 D000001 44
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
028 A010000 3202
028 A020000 0
028 A030000 0
028 A040000 3441
028 B010000 1923
028 B020000 0
028 B030000 0
028 B040000 2584
028 C010000 6078
<PAGE> PAGE 4
028 C020000 0
028 C030000 0
028 C040000 3838
028 D010000 3896
028 D020000 0
028 D030000 0
028 D040000 5951
028 E010000 6058
028 E020000 0
028 E030000 0
028 E040000 3534
028 F010000 8445
028 F020000 0
028 F030000 0
028 F040000 7601
028 G010000 29602
028 G020000 0
028 G030000 0
028 G040000 26949
028 H000000 0
029 000000 N
030 A000000 0
030 B000000 0.00
030 C000000 0.00
031 A000000 0
031 B000000 0
032 000000 0
033 000000 0
034 000000 N
035 000000 0
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
040 000000 N
042 A000000 0
042 B000000 0
042 C000000 0
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 0
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.000
048 A010000 50000
048 A020000 1.000
<PAGE> PAGE 5
048 B010000 50000
048 B020000 0.750
048 C010000 0
048 C020000 0.600
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 0
048 K020000 0.000
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
054 A000000 Y
054 B000000 N
054 C000000 N
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 Y
054 H000000 N
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 N
054 M000000 N
054 N000000 N
054 O000000 N
055 A000000 N
055 B000000 N
056 000000 Y
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 0
062 A000000 N
062 B000000 0.0
<PAGE> PAGE 6
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 0
063 B000000 0.0
066 A000000 Y
066 B000000 N
066 C000000 N
066 D000000 Y
066 E000000 N
066 F000000 N
066 G000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 Y
070 B010000 Y
070 B020000 Y
070 C010000 N
070 C020000 N
070 D010000 Y
070 D020000 N
070 E010000 N
070 E020000 N
070 F010000 Y
070 F020000 Y
070 G010000 Y
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 N
070 J020000 N
070 K010000 N
070 K020000 N
<PAGE> PAGE 7
070 L010000 N
070 L020000 N
070 M010000 N
070 M020000 N
070 N010000 N
070 N020000 N
070 O010000 N
070 O020000 N
070 P010000 N
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 Y
070 R020000 Y
071 A000000 44982
071 B000000 35677
071 C000000 27443
071 D000000 130
072 A000000 12
072 B000000 205
072 C000000 486
072 D000000 0
072 E000000 0
072 F000000 318
072 G000000 0
072 H000000 0
072 I000000 0
072 J000000 36
072 K000000 0
072 L000000 0
072 M000000 9
072 N000000 0
072 O000000 0
072 P000000 0
072 Q000000 34
072 R000000 9
072 S000000 11
072 T000000 0
072 U000000 3
072 V000000 0
072 W000000 6
072 X000000 426
072 Y000000 0
072 Z000000 265
072AA000000 5302
072BB000000 0
072CC010000 2709
072CC020000 0
072DD010000 0
072DD020000 0
072EE000000 0
<PAGE> PAGE 8
073 A010000 0.0000
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 1
074 B000000 463
074 C000000 303
074 D000000 0
074 E000000 0
074 F000000 33063
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 0
074 K000000 0
074 L000000 52
074 M000000 10
074 N000000 33892
074 O000000 434
074 P000000 47
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 17
074 S000000 0
074 T000000 33394
074 U010000 0
074 U020000 0
074 V010000 0.00
074 V020000 0.00
074 W000000 0.0000
074 X000000 3
074 Y000000 303
075 A000000 0
075 B000000 31768
076 000000 0.00
077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
<PAGE> PAGE 9
077 O000000 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
080 A000000 ICI MUTUAL INSURANCE COMPANY
080 C000000 2500
081 A000000 Y
081 B000000 14
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 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
SIGNATURE RICHARD A CLEMENS
TITLE MGR/FINANCIAL REPTG
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000887155
<NAME> GROWTH STOCK PORTFOLIO
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 27956355
<INVESTMENTS-AT-VALUE> 33829440
<RECEIVABLES> 52301
<ASSETS-OTHER> 9914
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 33891655
<PAYABLE-FOR-SECURITIES> 433549
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 64143
<TOTAL-LIABILITIES> 497692
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 27521228
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 5872735
<NET-ASSETS> 33393963
<DIVIDEND-INCOME> 485616
<INTEREST-INCOME> 205328
<OTHER-INCOME> 0
<EXPENSES-NET> 426301
<NET-INVESTMENT-INCOME> 264643
<REALIZED-GAINS-CURRENT> 5302202
<APPREC-INCREASE-CURRENT> 2709218
<NET-CHANGE-FROM-OPS> 8276063
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 8980281
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 317772
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 426301
<AVERAGE-NET-ASSETS> 31768374
<PER-SHARE-NAV-BEGIN> 0.00
<PER-SHARE-NII> 0.00
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 0.00
<EXPENSE-RATIO> 1.34
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>
</FN>
</TABLE>
The Board of Trustees of
Growth Stock Portfolio:
In planning and performing our audit of the financial
statements of Growth Stock Portfolio for the year
ended December 31, 1997, we considered its
internal controls, 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 controls.
The management of Growth Stock Portfolio is
responsible for establishing and maintaining internal
controls. In fulfilling this responsibility, estimates and
judgments by management are required to assess the
expected benefits and related costs of internal control
policies and procedures. Two of the objectives of internal
controls 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 preparation of financial
statements in conformity with generally accepted accounting
principles.
Because of inherent limitations in any internal controls,
errors or irregularities may occur and not be detected.
Also, projection of any evaluation of the internal controls
to future periods is subject to the risk that they may
become inadequate because of changes in conditions or
that the effectiveness of the design and operation may deteriorate.
Our consideration of the internal controls would not necessarily
disclose all matters in the internal controls 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 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 controls, including procedures for
safeguarding securities, that we consider to be material
weaknesses as defined above as of December 31, 1997.
This report is intended solely for the information and
use of management and the Securities and Exchange Commission.
KPMG PEAT MARWICK LLP
Columbus, Ohio
February 12, 1998
