<PAGE> PAGE 1
000 A000000 06/30/98
000 C000000 0000890339
000 D000000 N
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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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025 A000801 GOLDMAN, SACHS & CO.
025 B000801 13-5108880
025 C000801 D
025 D000801 1905
025 A000802 LEHMAN BROTHERS, INC.
025 B000802 13-2518466
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025 B000803 13-2638166
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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<PAGE> PAGE 30
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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SIGNATURE GRACE TORRES
TITLE TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000890339
<NAME> THE TARGET PORTFOLIO TRUST:
<SERIES>
<NUMBER> 001
<NAME> INTERMEDIATE-TERM BOND PORTFOLIO
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUNE-30-1998
<INVESTMENTS-AT-COST> 112,597,136
<INVESTMENTS-AT-VALUE> 112,835,800
<RECEIVABLES> 1,644,093
<ASSETS-OTHER> 46,273
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 13,067,338
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 382,599
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 99,598,724
<SHARES-COMMON-STOCK> 9,672,246
<SHARES-COMMON-PRIOR> 9,127,761
<ACCUMULATED-NII-CURRENT> 0
<UNDERDISTRIBUTION-NII> 498,408
<ACCUMULATED-NET-GAINS> 627,400
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 351,697
<NET-ASSETS> (18,800,007)
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 3,110,442
<OTHER-INCOME> 0
<EXPENSES-NET> 331,464
<NET-INVESTMENT-INCOME> 2,778,978
<REALIZED-GAINS-CURRENT> 933,777
<APPREC-INCREASE-CURRENT> (651,713)
<NET-CHANGE-FROM-OPS> 3,061,042
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,664,834)
<DISTRIBUTIONS-OF-GAINS> (92,870)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 28,405,578
<NUMBER-OF-SHARES-REDEEMED> (25,213,539)
<SHARES-REINVESTED> 2,510,074
<NET-CHANGE-IN-ASSETS> 6,005,451
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (47,889)
<OVERDISTRIB-NII-PRIOR> 218,646
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 218,849
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 331,464
<AVERAGE-NET-ASSETS> 101,076,000
<PER-SHARE-NAV-BEGIN> 10.42
<PER-SHARE-NII> 0.30
<PER-SHARE-GAIN-APPREC> 0.03
<PER-SHARE-DIVIDEND> (0.29)
<PER-SHARE-DISTRIBUTIONS> 0.01
<RETURNS-OF-CAPITAL> (0.01)
<PER-SHARE-NAV-END> 10.45
<EXPENSE-RATIO> 0.68
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
[ARTICLE] 6
[CIK] 0000890339
[NAME] THE TARGET PORTFOLIO TRUST:
[SERIES]
[NUMBER] 001
[NAME] INTERNATIONAL BOND PORTFOLIO
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1998
[PERIOD-END] JUN-30-1998
[INVESTMENTS-AT-COST] 0
[INVESTMENTS-AT-VALUE] 29,324,704
[RECEIVABLES] 742,987
[ASSETS-OTHER] 9,917
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 0
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 205,373
[TOTAL-LIABILITIES] 0
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 31,056,492
[SHARES-COMMON-STOCK] 3,305,031
[SHARES-COMMON-PRIOR] 3,401,148
[ACCUMULATED-NII-CURRENT] 0
<UNDERDISTRIBUTION-NII> (977,844)
[ACCUMULATED-NET-GAINS] 222,299
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] (428,712)
[NET-ASSETS] (6,706,179)
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 761,786
[OTHER-INCOME] (3,464)
[EXPENSES-NET] 208,510
[NET-INVESTMENT-INCOME] 549,812
[REALIZED-GAINS-CURRENT] (273,297)
[APPREC-INCREASE-CURRENT] 12,235
[NET-CHANGE-FROM-OPS] 288,750
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] (543,812)
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] (166,648)
[NUMBER-OF-SHARES-SOLD] 5,129,857
[NUMBER-OF-SHARES-REDEEMED] (6,683,788)
[SHARES-REINVESTED] 665,281
[NET-CHANGE-IN-ASSETS] (1,310,360)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] (793)
[OVERDISTRIB-NII-PRIOR] (254,616)
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 76,396
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 208,510
[AVERAGE-NET-ASSETS] 30,812,000
[PER-SHARE-NAV-BEGIN] 9.17
[PER-SHARE-NII] 0.16
[PER-SHARE-GAIN-APPREC] (0.07)
[PER-SHARE-DIVIDEND] (0.16)
[PER-SHARE-DISTRIBUTIONS] (0.06)
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 9.04
[EXPENSE-RATIO] 1.36
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
[ARTICLE] 6
[CIK] 0000890339
[NAME] THE TARGET PORTFOLIO TRUST:
[SERIES]
[NUMBER] 001
[NAME] INTERNATIONAL EQUITY PORTFOLIO
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1998
[PERIOD-END] JUN-30-1998
[INVESTMENTS-AT-COST] 202,123,261
[INVESTMENTS-AT-VALUE] 268,940,460
[RECEIVABLES] 1,799,551
[ASSETS-OTHER] 815,407
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 0
[PAYABLE-FOR-SECURITIES] 2,625,620
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 5,854,664
[TOTAL-LIABILITIES] 0
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 187,457,148
[SHARES-COMMON-STOCK] 15,744,586
[SHARES-COMMON-PRIOR] 16,662,216
[ACCUMULATED-NII-CURRENT] 0
<UNDERDISTRIBUTION-NII> (2,061,126)
[ACCUMULATED-NET-GAINS] 10,885,080
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 66,794,032
[NET-ASSETS] (32,406,802)
[DIVIDEND-INCOME] 4,345,139
[INTEREST-INCOME] 223,561
[OTHER-INCOME] (519,031)
[EXPENSES-NET] 1,124,240
[NET-INVESTMENT-INCOME] 2,925,429
[REALIZED-GAINS-CURRENT] 9,142,048
[APPREC-INCREASE-CURRENT] 31,306,087
[NET-CHANGE-FROM-OPS] 43,373,564
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] (3,092,912)
[DISTRIBUTIONS-OTHER] (396,509)
[NUMBER-OF-SHARES-SOLD] 188,912,125
[NUMBER-OF-SHARES-REDEEMED] (206,998,468)
[SHARES-REINVESTED] 3,426,436
[NET-CHANGE-IN-ASSETS] 25,224,236
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] (70,928)
[OVERDISTRIB-NII-PRIOR] 316,826
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 883,512
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 1,124,240
[AVERAGE-NET-ASSETS] 254,524,000
[PER-SHARE-NAV-BEGIN] 14.27
[PER-SHARE-NII] 0.19
[PER-SHARE-GAIN-APPREC] 2.48
[PER-SHARE-DIVIDEND] (0.03)
[PER-SHARE-DISTRIBUTIONS] (0.20)
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 16.71
[EXPENSE-RATIO] 0.89
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
[ARTICLE] 6
[CIK] 0000890339
[NAME] THE TARGET PORTFOLIO TRUST:
[SERIES]
[NUMBER] 001
[NAME] LARGE CAPITIALIZATION GROWTH PORTFOLIO
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1998
[PERIOD-END] JUN-30-1998
[INVESTMENTS-AT-COST] 190,710,854
[INVESTMENTS-AT-VALUE] 289,474,643
[RECEIVABLES] 1,552,081
[ASSETS-OTHER] 8,821,808
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 0
[PAYABLE-FOR-SECURITIES] 1,964,903
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 1,485,328
[TOTAL-LIABILITIES] 0
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 171,758,520
[SHARES-COMMON-STOCK] 17,381,797
[SHARES-COMMON-PRIOR] 17,954,643
[ACCUMULATED-NII-CURRENT] 0
<OVERDISTRIBUTION-NII> (43,957)
[ACCUMULATED-NET-GAINS] 17,102,949
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 107,580,789
[NET-ASSETS] (35,336,440)
[DIVIDEND-INCOME] 694,095
[INTEREST-INCOME] 189,958
[OTHER-INCOME] (816)
[EXPENSES-NET] 927,194
[NET-INVESTMENT-INCOME] (43,957)
[REALIZED-GAINS-CURRENT] 20,859,222
[APPREC-INCREASE-CURRENT] 40,231,073
[NET-CHANGE-FROM-OPS] 61,046,338
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 29,494,741
[NUMBER-OF-SHARES-REDEEMED] (38,037,358)
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] 52,503,721
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] (3,756,273)
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 812,058
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 927,194
[AVERAGE-NET-ASSETS] 296,398,000
[PER-SHARE-NAV-BEGIN] 13.58
[PER-SHARE-NII] 0.00
[PER-SHARE-GAIN-APPREC] 3.47
[PER-SHARE-DIVIDEND] 0.00
[PER-SHARE-DISTRIBUTIONS] 0.00
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 17.05
[EXPENSE-RATIO] 0.69
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
[ARTICLE] 6
[CIK] 0000890339
[NAME] THE TARGET PORTFOLIO TRUST
[SERIES]
[NUMBER] 001
[NAME] LARGE CAPITALIZATION VALUE PORTFOLIO
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1998
[PERIOD-END] JUN-30-1998
[INVESTMENTS-AT-COST] 201,905,424
[INVESTMENTS-AT-VALUE] 293,670,727
[RECEIVABLES] 1,579,825
[ASSETS-OTHER] 3,207
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 0
[PAYABLE-FOR-SECURITIES] 703,674
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 1,751,196
[TOTAL-LIABILITIES] 0
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 180,656,842
[SHARES-COMMON-STOCK] 16,927,179
[SHARES-COMMON-PRIOR] 16,973,575
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 2,377,788
[ACCUMULATED-NET-GAINS] 17,998,956
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 91,765,303
[NET-ASSETS] (33,900,754)
[DIVIDEND-INCOME] 3,329,252
[INTEREST-INCOME] 98,875
[OTHER-INCOME] (28,617)
[EXPENSES-NET] 992,067
[NET-INVESTMENT-INCOME] 2,407,443
[REALIZED-GAINS-CURRENT] 19,658,557
[APPREC-INCREASE-CURRENT] 2,413,504
[NET-CHANGE-FROM-OPS] 24,479,504
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 499,686
[DISTRIBUTIONS-OF-GAINS] 5,879,644
[DISTRIBUTIONS-OTHER] (6,379,330)
[NUMBER-OF-SHARES-SOLD] 32,871,090
[NUMBER-OF-SHARES-REDEEMED] (39,515,462)
[SHARES-REINVESTED] 6,249,888
[NET-CHANGE-IN-ASSETS] 24,085,020
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 4,220,043
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 855,622
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 992,067
[AVERAGE-NET-ASSETS] 289,093,000
[PER-SHARE-NAV-BEGIN] 16.21
[PER-SHARE-NII] 0.14
[PER-SHARE-GAIN-APPREC] 1.33
[PER-SHARE-DIVIDEND] (0.03)
[PER-SHARE-DISTRIBUTIONS] (0.35)
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 17.30
[EXPENSE-RATIO] 0.69
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
[ARTICLE] 6
[CIK] 0000890339
[NAME] THE TARGET PORTFOLIO TRUST:
[SERIES]
[NUMBER] 001
[NAME] MORTGAGE BACKED SECURITIES PORTFOLIO
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1998.
[PERIOD-END] JUN-30-1998
[INVESTMENTS-AT-COST] 0
[INVESTMENTS-AT-VALUE] 73,193,848
[RECEIVABLES] 633,378
[ASSETS-OTHER] 1,740
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 0
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 311,117
[TOTAL-LIABILITIES] 0
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 71,965,142
[SHARES-COMMON-STOCK] 7,016,929
[SHARES-COMMON-PRIOR] 6,849,808
[ACCUMULATED-NII-CURRENT] 0
<UNDERDISTRIBUTION-NII> 145,231
[ACCUMULATED-NET-GAINS] (790,012)
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 2,197,488
[NET-ASSETS] (13,866,737)
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 2,513,357
[OTHER-INCOME] 0
[EXPENSES-NET] 253,796
[NET-INVESTMENT-INCOME] 2,259,561
[REALIZED-GAINS-CURRENT] 293,643
[APPREC-INCREASE-CURRENT] (215,976)
[NET-CHANGE-FROM-OPS] 2,337,228
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] (2,171,672)
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 8,993,286
[NUMBER-OF-SHARES-REDEEMED] (8,957,063)
[SHARES-REINVESTED] 1,720,563
[NET-CHANGE-IN-ASSETS] 1,922,342
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] (1,083,655)
[OVERDISTRIB-NII-PRIOR] 57,342
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 162,715
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 253,796
[AVERAGE-NET-ASSETS] 72,917,000
[PER-SHARE-NAV-BEGIN] 10.45
[PER-SHARE-NII] 0.33
[PER-SHARE-GAIN-APPREC] 0.01
[PER-SHARE-DIVIDEND] (0.31)
[PER-SHARE-DISTRIBUTIONS] 0.00
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 10.48
[EXPENSE-RATIO] 0.70
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
[ARTICLE] 6
[CIK] 0000890339
[NAME] THE TARGET PORTFOLIO TRUST:
[SERIES]
[NUMBER] 001
[NAME] SMALL CAPITIALIZATION GROWTH PORTFOLIO
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1998
[PERIOD-END] JUN-30-1998
[INVESTMENTS-AT-COST] 0
[INVESTMENTS-AT-VALUE] 180,163,709
[RECEIVABLES] 2,229,834
[ASSETS-OTHER] 3,083
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 0
[PAYABLE-FOR-SECURITIES] 2,757,202
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 811,175
[TOTAL-LIABILITIES] 0
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 127,910,302
[SHARES-COMMON-STOCK] 10,591,212
[SHARES-COMMON-PRIOR] 10,653,620
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (301,622)
[ACCUMULATED-NET-GAINS] 11,844,647
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 39,374,922
[NET-ASSETS] (21,244,832)
[DIVIDEND-INCOME] 193,613
[INTEREST-INCOME] 178,766
[OTHER-INCOME] (2,465)
[EXPENSES-NET] 671,536
[NET-INVESTMENT-INCOME] (301,622)
[REALIZED-GAINS-CURRENT] 11,875,562
[APPREC-INCREASE-CURRENT] 6,037,494
[NET-CHANGE-FROM-OPS] 17,611,434
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] (3,988,224)
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 24,032,668
[NUMBER-OF-SHARES-REDEEMED] (28,637,508)
[SHARES-REINVESTED] 3,911,743
[NET-CHANGE-IN-ASSETS] 12,930,113
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 3,957,309
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 526,066
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 817,006
[AVERAGE-NET-ASSETS] 178,828,000
[PER-SHARE-NAV-BEGIN] 15.57
[PER-SHARE-NII] (0.03)
[PER-SHARE-GAIN-APPREC] 1.72
[PER-SHARE-DIVIDEND] (0.38)
[PER-SHARE-DISTRIBUTIONS] 0.00
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 16.88
[EXPENSE-RATIO] 0.77
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
[ARTICLE] 6
[CIK] 0000890339
[NAME] THE TARGET PORTFOLIO TRUST
[SERIES]
[NUMBER] 001
[NAME] SMALL CAPITALIZATION VALUE PORTFOLIO
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1998
[PERIOD-END] JUN-31-1998
[INVESTMENTS-AT-COST] 132,994,750
[INVESTMENTS-AT-VALUE] 164,639,315
[RECEIVABLES] 925,822
[ASSETS-OTHER] 6,599
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 0
[PAYABLE-FOR-SECURITIES] 728,530
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 970,562
[TOTAL-LIABILITIES] 0
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 120,780,132
[SHARES-COMMON-STOCK] 9,290,940
[SHARES-COMMON-PRIOR] 9,335,840
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 365,372
[ACCUMULATED-NET-GAINS] 11,082,575
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 31,644,565
[NET-ASSETS] (18,626,780)
[DIVIDEND-INCOME] 823,482
[INTEREST-INCOME] 189,849
[OTHER-INCOME] (923)
[EXPENSES-NET] 647,036
[NET-INVESTMENT-INCOME] 365,372
[REALIZED-GAINS-CURRENT] 11,111,681
[APPREC-INCREASE-CURRENT] (8,211,313)
[NET-CHANGE-FROM-OPS] 3,265,740
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 31,133,842
[NUMBER-OF-SHARES-REDEEMED] (33,881,193)
[SHARES-REINVESTED] 2,157,018
[NET-CHANGE-IN-ASSETS] 2,675,407
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 2,187,826
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 505,260
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 647,036
[AVERAGE-NET-ASSETS] 169,816,000
[PER-SHARE-NAV-BEGIN] 17.50
[PER-SHARE-NII] 0.04
[PER-SHARE-GAIN-APPREC] 0.34
[PER-SHARE-DIVIDEND] 0.00
[PER-SHARE-DISTRIBUTIONS] (0.24)
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 17.64
[EXPENSE-RATIO] 0.77
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
[ARTICLE] 6
[CIK] 0000890339
[NAME] THE TARGET PORTFOLIO TRUST
[SERIES]
[NUMBER] 001
[NAME] TOTAL RETURN BOND PORTFOLIO
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1998
[PERIOD-END] JUN-30-1998
[INVESTMENTS-AT-COST] 75,445,863
[INVESTMENTS-AT-VALUE] 75,802,371
[RECEIVABLES] 3,397,884
[ASSETS-OTHER] 21,639
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 0
[PAYABLE-FOR-SECURITIES] 17,038,626
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 234,833
[TOTAL-LIABILITIES] 0
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 59,963,972
[SHARES-COMMON-STOCK] 5,792,140
[SHARES-COMMON-PRIOR] 4,772,691
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 337,772
[ACCUMULATED-NET-GAINS] 1,291,810
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 354,881
[NET-ASSETS] (10,564,831)
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 1,835,576
[OTHER-INCOME] 0
[EXPENSES-NET] 235,679
[NET-INVESTMENT-INCOME] 1,599,897
[REALIZED-GAINS-CURRENT] 1,164,322
[APPREC-INCREASE-CURRENT] (573,354)
[NET-CHANGE-FROM-OPS] 2,190,865
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] (1,467,270)
[DISTRIBUTIONS-OF-GAINS] (50,039)
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 17,935,209
[NUMBER-OF-SHARES-REDEEMED] (8,469,931)
[SHARES-REINVESTED] 1,398,819
[NET-CHANGE-IN-ASSETS] 11,537,653
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] (158,663)
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 129,892
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 235,679
[AVERAGE-NET-ASSETS] 58,208,000
[PER-SHARE-NAV-BEGIN] 10.56
[PER-SHARE-NII] 0.28
[PER-SHARE-GAIN-APPREC] 0.14
[PER-SHARE-DIVIDEND] (0.27)
[PER-SHARE-DISTRIBUTIONS] (0.01)
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 10.70
[EXPENSE-RATIO] 0.82
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
[ARTICLE] 6
[CIK] 0000890339
[NAME] THE TARGET PORTFOLIO TRUST
[SERIES]
[NUMBER] 001
[NAME] US GOVERNMENT MONEY MARKET PORTFOLIO
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1998
[PERIOD-END] JUN-30-1998
[INVESTMENTS-AT-COST] 128,832,674
[INVESTMENTS-AT-VALUE] 11,995,674
[RECEIVABLES] 13,783,884
[ASSETS-OTHER] 116,914,042
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 0
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 35,340,066
[TOTAL-LIABILITIES] 0
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 107,353,534
[SHARES-COMMON-STOCK] 107,353,534
[SHARES-COMMON-PRIOR] 42,325,532
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 0
[NET-ASSETS] (149,679,066)
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 1,888,449
[OTHER-INCOME] 0
[EXPENSES-NET] 186,978
[NET-INVESTMENT-INCOME] 1,701,471
[REALIZED-GAINS-CURRENT] 0
[APPREC-INCREASE-CURRENT] 0
[NET-CHANGE-FROM-OPS] 1,701,471
[EQUALIZATION] (1,701,471)
[DISTRIBUTIONS-OF-INCOME] #REF!
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 1,218,460,166
[NUMBER-OF-SHARES-REDEEMED] (1,154,702,826)
[SHARES-REINVESTED] 1,270,662
[NET-CHANGE-IN-ASSETS] 65,028,002
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 85,712
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 186,978
[AVERAGE-NET-ASSETS] 69,138
[PER-SHARE-NAV-BEGIN] 1.00
[PER-SHARE-NII] 0.02
[PER-SHARE-GAIN-APPREC] 0.00
[PER-SHARE-DIVIDEND] (0.02)
[PER-SHARE-DISTRIBUTIONS] 0.00
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 1.00
[EXPENSE-RATIO] 0.55
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
</TABLE>
For the semi annual period ended 6/30/98
File number 811-7064
Target Small Capitalization Value Portfolio
SUB-ITEM 77 O
EXHIBIT 1
Transactions Effected Pursuant to Rule 10f-3
1. Name of Issuer
Dura Automotive Systems Inc.
2. Date of Purchase
6/12/98
3. Number of Securities Purchased
7,900
4. Dollar Amount of Purchase
$259,219
5. Price Per Unit
$32.81
6. Name(s) of Underwriter(s) or Dealer(s) From
Whom Purchased
PaineWebber Inc.
For the semi annual period ended 6/30/98
File number 811-7064
Target Small Capitalization Value Portfolio
SUB-ITEM 77 O
EXHIBIT 2
Transactions Effected Pursuant to Rule 10f-3
1. Name of Issuer
World Color Press Inc.
2. Date of Purchase
5/12/98
3. Number of Securities Purchased
17,900
4. Dollar Amount of Purchase
$537,000
5. Price Per Unit
$30.00
6. Name(s) of Underwriter(s) or Dealer(s) From
Whom Purchased
Goldman Sachs & Co.
