<PAGE>
000 A000000 04/30/96
000 C000000 0000894089
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 THE PIERPONT FUNDS
001 B000000 811-7340
001 C000000 6174230800
002 A000000 6 ST. JAMES AVENUE
002 B000000 BOSTON
002 C000000 MA
002 D010000 02116
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 15
007 C010100 1
007 C020100 THE PIERPONT TREASURY MONEY MARKET FUND
007 C030100 N
007 C010200 2
007 C020200 THE PIERPONT SHORT TERM BOND FUND
007 C030200 N
007 C010300 3
007 C020300 THE PIERPONT BOND FUND
007 C030300 N
007 C010400 4
007 C020400 THE PIERPONT INTERNATIONAL EQUITY FUND
007 C030400 N
007 C010500 5
007 C020500 THE PIERPONT EMERGING MATKETS EQUITY FUND
007 C030500 N
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
<PAGE>
007 C012000 20
010 A00AA01 SIGNATURE BROKER-DEALER SERVICES, INC.
010 C01AA01 BOSTON
010 C02AA01 MA
010 C03AA01 02116
010 A00AA02 MORGAN GUARANTY TRUST COMPANY OF NEW YORK
010 C01AA02 NEW YORK
010 C02AA02 NY
010 C03AA02 10036
010 A00AA03 PIERPONT GROUP, INC
010 C01AA03 NEW YORK
010 C02AA03 NY
010 C03AA03 10017
011 A00AA01 SIGNATURE BROKER-DEALER SERVICES, INC
011 B00AA01 8-41134
011 C01AA01 BOSTON
011 C02AA01 MA
011 C03AA01 02116
012 A00AA01 STATE STREET BANK & TRUST COMPANY
012 B00AA01 85-530003
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02101
012 A00AA02 MORGAN GUARANTY TRUST COMPANY OF NEW YORK
012 B00AA02 85-000000
012 C01AA02 NEW YORK
012 C02AA02 NY
012 C03AA02 10036
013 A00AA01 PRICE WATERHOUSE LLP
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10036
014 A00AA01 SIGNATURE BROKER-DEALER SERVICES
014 B00AA01 8-8-41134
015 A00AA01 STATE STREET BANK & TRUST COMPANY
015 B00AA01 C
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015 C02AA01 MA
015 C03AA01 02101
015 E01AA01 X
018 00AA00 Y
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019 B00AA00 40
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<PAGE>
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022 A000001 THE TREASURY MONEY MARKET PORTFOLIO
022 B000001 04-3174352
022 C000001 990659
022 D000001 989772
022 A000002 THE SHORT TERM BOND PORTFOLIO
022 B000002 04-3194467
022 C000002 2303
022 D000002 3493
022 A000003 THE U.S. FIXED INCOME PORTFOLIO
022 B000003 04-3194464
022 C000003 18368
022 D000003 19682
022 A000004 THE NON U.S. EQUITY PORTFOLIO
022 B000004 04-3194416
022 C000004 31041
022 D000004 33100
022 A000005 THE EMERGING MARKETS PORTFOLIO
022 B000005 04-3194471
022 C000005 29693
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022 C000009 0
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022 C000010 0
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023 C000000 1072064
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026 D000000 Y
026 E000000 N
026 F000000 N
<PAGE>
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026 H000000 N
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032 00AA00 0
033 00AA00 0
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035 00AA00 0
036 B00AA00 0
037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 N
041 00AA00 N
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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
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048 A01AA00 0
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056 00AA00 Y
057 00AA00 N
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068 A00AA00 N
068 B00AA00 N
069 00AA00 N
070 A01AA00 N
070 A02AA00 N
070 B01AA00 N
070 B02AA00 N
070 C01AA00 N
070 C02AA00 N
070 D01AA00 N
070 D02AA00 N
070 E01AA00 N
070 E02AA00 N
070 F01AA00 N
070 F02AA00 N
070 G01AA00 N
070 G02AA00 N
070 H01AA00 N
070 H02AA00 N
070 I01AA00 N
070 I02AA00 N
070 J01AA00 N
<PAGE>
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070 K02AA00 Y
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070 L02AA00 N
070 M01AA00 N
070 M02AA00 N
070 N01AA00 N
070 N02AA00 N
070 O01AA00 N
070 O02AA00 N
070 P01AA00 N
070 P02AA00 N
070 Q01AA00 N
070 Q02AA00 N
070 R01AA00 N
070 R02AA00 N
077 A000000 N
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<PAGE>
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028 E040100 152188
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028 F040100 231510
028 G010100 990659
028 G020100 4681
028 G030100 0
028 G040100 990820
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072EE000100 65
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074 I000100 177525
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074 P000100 31
074 Q000100 0
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074 R040100 828
074 S000100 0
074 T000100 176709
074 U010100 176629
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028 A010200 124
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028 B010200 657
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<PAGE>
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028 C040200 469
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028 D040200 373
028 E010200 696
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028 G010200 2303
028 G020200 115
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028 G040200 3338
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058 A000200 N
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060 A000200 Y
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061 000200 100000
071 A000200 0
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<PAGE>
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073 A020200 0.0000
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074 I000200 9123
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074 K000200 5
074 L000200 266
074 M000200 14
074 N000200 9408
074 O000200 0
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074 R040200 48
074 S000200 0
074 T000200 9358
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074 U020200 0
074 V010200 9.77
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075 B000200 9138
076 000200 0.00
028 A010300 2932
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<PAGE>
028 A040300 2396
028 B010300 1342
028 B020300 668
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028 B040300 4089
028 C010300 4738
028 C020300 657
028 C030300 0
028 C040300 4853
028 D010300 2647
028 D020300 641
028 D030300 0
028 D040300 2354
028 E010300 3907
028 E020300 635
028 E030300 0
028 E040300 3319
028 F010300 2802
028 F020300 1343
028 F030300 0
028 F040300 2129
028 G010300 18368
028 G020300 3944
028 G030300 0
028 G040300 19140
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058 A000300 N
059 000300 Y
060 A000300 Y
060 B000300 Y
061 000300 100000
071 A000300 0
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072 A000300 6
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072 E000300 4464
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<PAGE>
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072CC020300 6095
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073 A010300 0.3100
073 A020300 0.0000
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073 C000300 0.0000
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074 C000300 0
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074 I000300 142265
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074 N000300 142302
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074 T000300 142194
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074 V010300 10.13
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<PAGE>
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028 A010400 3726
028 A020400 0
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028 A040400 5242
028 B010400 6810
028 B020400 6493
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028 B040400 7398
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028 C040400 4993
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028 D040400 6252
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028 F040400 6115
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058 A000400 N
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061 000400 25000
071 A000400 0
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<PAGE>
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074 I000400 205097
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SIGNATURE JOHN R. ELDER
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL DATA EXTRACTED FROM THE SEMI-ANNUAL
REPORT DATED APRIL 30, 1996 FOR THE PIERPONT TREASURY MONEY MARKET FUND AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH SEMI-ANNUAL REPORT.
</LEGEND>
<CIK> 0000894089
<NAME> THE PIERPONT FUNDS
<SERIES>
<NUMBER> 1
<NAME> THE PIERPONT TREASURY MONEY MARKET FUND
<S> <C>
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<FISCAL-YEAR-END> OCT-31-1996
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL DATA EXTRACTED FROM THE SEMI-ANNUAL
REPORT DATED APRIL 30, 1996 FOR THE PIERPONT SHORT TERM BOND FUND AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH SEMI-ANNUAL REPORT.
</LEGEND>
<CIK> 0000894089
<NAME> THE PIERPONT FUNDS
<SERIES>
<NUMBER> 2
<NAME> THE PIERPONT SHORT TERM BOND FUND
<S> <C>
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<ACCUMULATED-NII-CURRENT> (475)
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<ACCUMULATED-NET-GAINS> (44993)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (40076)
<NET-ASSETS> 9357822
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 276464
<OTHER-INCOME> 0
<EXPENSES-NET> 30475
<NET-INVESTMENT-INCOME> 245989
<REALIZED-GAINS-CURRENT> 26150
<APPREC-INCREASE-CURRENT> (78272)
<NET-CHANGE-FROM-OPS> 193867
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 245989
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 233944
<NUMBER-OF-SHARES-REDEEMED> (337797)
<SHARES-REINVESTED> 11651
<NET-CHANGE-IN-ASSETS> (92202)
<ACCUMULATED-NII-PRIOR> (475)
<ACCUMULATED-GAINS-PRIOR> (71143)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 70085
<AVERAGE-NET-ASSETS> 9000693
<PER-SHARE-NAV-BEGIN> 9.84
<PER-SHARE-NII> .26
<PER-SHARE-GAIN-APPREC> (.07)
<PER-SHARE-DIVIDEND> (.26)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.77
<EXPENSE-RATIO> .67
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL DATA EXTRACTED FROM THE SEMI-ANNUAL
REPORT DATED APRIL 30, 1996 FOR THE PIERPONT BOND FUND AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH SEMI ANNUAL REPORT.
</LEGEND>
<CIK> 0000894089
<NAME> THE PIERPONT FUNDS
<SERIES>
<NUMBER> 3
<NAME> THE PIERPONT BOND FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-START> NOV-01-1996
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 142265
<INVESTMENTS-AT-VALUE> 142265
<RECEIVABLES> 30
<ASSETS-OTHER> 7
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 142302
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 108
<TOTAL-LIABILITIES> 108
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 144507
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 136
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (863)
<ACCUM-APPREC-OR-DEPREC> (1586)
<NET-ASSETS> 142193541
<DIVIDEND-INCOME> 16
<INTEREST-INCOME> 4714
<OTHER-INCOME> 0
<EXPENSES-NET> 471
<NET-INVESTMENT-INCOME> 4259
<REALIZED-GAINS-CURRENT> 2109
<APPREC-INCREASE-CURRENT> (6095)
<NET-CHANGE-FROM-OPS> 273
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 4256
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 18368496
<NUMBER-OF-SHARES-REDEEMED> 19139722
<SHARES-REINVESTED> 3943797
<NET-CHANGE-IN-ASSETS> (809975)
<ACCUMULATED-NII-PRIOR> 132486
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 471
<AVERAGE-NET-ASSETS> 143248
<PER-SHARE-NAV-BEGIN> 10.41
<PER-SHARE-NII> .31
<PER-SHARE-GAIN-APPREC> (.28)
<PER-SHARE-DIVIDEND> (.31)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.13
<EXPENSE-RATIO> .66
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL DATA EXTRACTED FROM THE SEMI-ANNUAL
REPORT DATED APRIL 30, 1996 FOR THE PIERPONT INTERNATIONAL EQUITY FUND AND
IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH SEMI-ANNUAL REPORT.
</LEGEND>
<CIK> 0000894089
<NAME> THE PIERPONT FUNDS
<SERIES>
<NUMBER> 4
<NAME> THE PIERPONT INTERNATIONAL EQUITY FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-START> NOV-1-1995
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 205097
<RECEIVABLES> 123
<ASSETS-OTHER> 6
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 205226
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 153
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 180720
<SHARES-COMMON-STOCK> 17804
<SHARES-COMMON-PRIOR> 17375
<ACCUMULATED-NII-CURRENT> 85
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 5363
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 18905
<NET-ASSETS> 205073
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 0
<OTHER-INCOME> 944
<EXPENSES-NET> 330
<NET-INVESTMENT-INCOME> 614
<REALIZED-GAINS-CURRENT> 5441
<APPREC-INCREASE-CURRENT> 18961
<NET-CHANGE-FROM-OPS> 25016
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 4122
<DISTRIBUTIONS-OF-GAINS> 5796
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2833
<NUMBER-OF-SHARES-REDEEMED> 3010
<SHARES-REINVESTED> 606
<NET-CHANGE-IN-ASSETS> 429
<ACCUMULATED-NII-PRIOR> 3593
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 330
<AVERAGE-NET-ASSETS> 195304
<PER-SHARE-NAV-BEGIN> 10.68
<PER-SHARE-NII> .04
<PER-SHARE-GAIN-APPREC> 1.38
<PER-SHARE-DIVIDEND> .24
<PER-SHARE-DISTRIBUTIONS> .34
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.52
<EXPENSE-RATIO> 1.10
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL DATA EXTRACTED FROM THE SEMI-ANNUAL
REPORT DATED APRIL 30, 1996 FOR THE PIERPONT EMERGING MARKETS FUND AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH SEMI-ANNUAL REPORT.
</LEGEND>
<CIK> 0000894089
<NAME> THE PIERPONT FUNDS
<SERIES>
<NUMBER> 5
<NAME> THE PIERPONT EMERGING MARKETS FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-START> NOV-1-1995
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 60643
<RECEIVABLES> 0
<ASSETS-OTHER> 178
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 60821
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 51
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 63438
<SHARES-COMMON-STOCK> 5671
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (19)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (3784)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1135
<NET-ASSETS> 60770
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 0
<OTHER-INCOME> 658
<EXPENSES-NET> 466
<NET-INVESTMENT-INCOME> 192
<REALIZED-GAINS-CURRENT> (304)
<APPREC-INCREASE-CURRENT> 6962
<NET-CHANGE-FROM-OPS> 6850
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 368
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2995467
<NUMBER-OF-SHARES-REDEEMED> 2469511
<SHARES-REINVESTED> 31373
<NET-CHANGE-IN-ASSETS> 562329
<ACCUMULATED-NII-PRIOR> 156
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 3480
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 466
<AVERAGE-NET-ASSETS> 55589
<PER-SHARE-NAV-BEGIN> 9.65
<PER-SHARE-NII> .04
<PER-SHARE-GAIN-APPREC> 1.10
<PER-SHARE-DIVIDEND> .07
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.72
<EXPENSE-RATIO> 1.68
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
