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000 C000000 0000894089
000 D000000 N
000 E000000 NF
000 F000000 Y
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000 I000000 3.0
000 J000000 A
001 A000000 THE PIERPONT FUNDS
001 B000000 811-7340
001 C000000 6174230800
002 A000000 6 ST. JAMES AVENUE 9TH FLOOR
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 16
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C020600 THE PIERPONT TAX EXEMPT BOND FUND
007 C030600 N
007 C010700 7
007 C020700 THE PIERPONT TAX EXEMPT MONEY MARKET FUND
007 C030700 N
007 C010800 8
007 C010900 9
007 C011000 10
010 A00AA01 SIGNATURE BROKER DEALER SERVICES INC.
010 C01AA01 BOSTON
010 C02AA01 MA
010 C03AA01 02116
010 A00AA02 PIERPONT GROUP
010 C01AA02 NEW YORK
010 C02AA02 NY
010 C03AA02 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
012 B00AA01 85-50003
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02101
013 A00AA01 PRICE WATERHOUSE LLP
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10036
015 A00AA01 STATE STREET BANK & TRUST
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02101
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 37
019 C00AA00 JPM/PIERPO
020 A000001 NONE
020 C000001 0
020 C000002 0
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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 THE TAX EXEMPT MONEY MARKET PORTFOLIO
022 B000001 04-3194418
022 C000001 1868603
022 D000001 1855547
022 A000002 THE TAX EXEMPT BOND PORTFOLIO
022 B000002 04-3194405
022 C000002 76304
022 D000002 65222
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022 D000010 0
023 C000000 1944907
023 D000000 1920769
024 00AA00 N
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025 D00AA02 0
025 D00AA03 0
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025 D00AA05 0
025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
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026 C000000 N
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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
037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 N
041 00AA00 N
042 A00AA00 0
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042 D00AA00 0
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044 00AA00 0
045 00AA00 N
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048 K02AA00 0.000
055 A00AA00 N
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056 00AA00 Y
057 00AA00 N
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059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 25000
062 A00AA00 N
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062 C00AA00 0.0
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062 N00AA00 0.0
062 O00AA00 0.0
062 P00AA00 0.0
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062 R00AA00 0.0
066 A00AA00 N
067 00AA00 N
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
070 J02AA00 N
070 K01AA00 Y
070 K02AA00 Y
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070 M01AA00 N
070 M02AA00 N
070 N01AA00 N
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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 Y
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084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
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028 A010600 7736
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071 A000600 0
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072EE000600 455
073 A010600 0.2800
073 A020600 0.0000
073 B000600 0.0100
073 C000600 0.0000
074 A000600 0
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074 I000600 377266
074 J000600 0
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074 L000600 580
074 M000600 1
074 N000600 377847
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074 R040600 353
074 S000600 0
074 T000600 377413
074 U010600 31736
074 U020600 0
074 V010600 11.89
074 V020600 0.00
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076 000600 0.00
028 A010700 200911
028 A020700 2638
028 A030700 0
028 A040700 239239
028 B010700 332600
028 B020700 2600
028 B030700 0
028 B040700 337415
028 C010700 190681
028 C020700 2570
028 C030700 0
028 C040700 183295
028 D010700 284246
028 D020700 2476
028 D030700 0
028 D040700 468430
028 E010700 587693
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028 E040700 330778
028 F010700 272472
028 F020700 2325
028 F030700 0
028 F040700 293823
028 G010700 1868603
028 G020700 14949
028 G030700 0
028 G040700 1852980
028 H000700 0
071 A000700 0
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072 A000700 6
072 B000700 17235
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074 I000700 1018286
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074 N000700 1018316
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SIGNATURE DANIEL E. SHEA
TITLE ASST. TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL DATA EXTRACTED FROM THE 2/29/96
SEMI-ANNUAL REPORT FOR THE PIERPONT TAX EXEMPT MONEY MARKET FUND AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH SEMI-ANNUAL REPORT.
</LEGEND>
<CIK> 0000894089
<NAME> THE PIERPONT TAX EXEMPT MONEY MARKET FUND
<SERIES>
<NUMBER> 7
<NAME> THE PIERPONT FUNDS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 1,018,519,390
<INVESTMENTS-AT-VALUE> 1,018,286,303
<RECEIVABLES> 0
<ASSETS-OTHER> 29,449
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<TOTAL-ASSETS> 1,018,315,752
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<PAID-IN-CAPITAL-COMMON> 1,015,926,530
<SHARES-COMMON-STOCK> 15,015,581,650
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (233,087)
<OVERDISTRIBUTION-GAINS> (27,541)
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<NET-ASSETS> 1,015,665,902
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 17,235,153
<OTHER-INCOME> 0
<EXPENSES-NET> 1,191,853
<NET-INVESTMENT-INCOME> 16,043,300
<REALIZED-GAINS-CURRENT> 25,583
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<NET-CHANGE-FROM-OPS> 16,068,883
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<NUMBER-OF-SHARES-SOLD> 1,868,602,812
<NUMBER-OF-SHARES-REDEEMED> 1,852,980,387
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<PER-SHARE-NII> .017
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<EXPENSE-RATIO> .49
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL DATA EXTRACTED FROM THE 2/29/96
SEMI-ANNUAL REPORT FOR THE PIERPONT TAX EXEMPT BOND FUND AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH SEMI-ANNUAL REPORT.
</LEGEND>
<CIK> 0000894089
<NAME> THE PIERPONT TAX EXEMPT BOND FUND
<SERIES>
<NUMBER> 6
<NAME> THE PIERPONT FUNDS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 356,101,441
<INVESTMENTS-AT-VALUE> 377,265,678
<RECEIVABLES> 579,865
<ASSETS-OTHER> 1,340
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 377,846,883
<PAYABLE-FOR-SECURITIES> 0
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<OTHER-ITEMS-LIABILITIES> 433,534
<TOTAL-LIABILITIES> 433,534
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 356,257,677
<SHARES-COMMON-STOCK> 31,736,201
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<ACCUMULATED-NET-GAINS> (115,435)
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<DISTRIBUTIONS-OF-GAINS> 455,297
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<NET-CHANGE-IN-ASSETS> 25,407,865
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<GROSS-EXPENSE> 1,107,682
<AVERAGE-NET-ASSETS> 362,045,147
<PER-SHARE-NAV-BEGIN> 11.73
<PER-SHARE-NII> .28
<PER-SHARE-GAIN-APPREC> .17
<PER-SHARE-DIVIDEND> 0
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<PER-SHARE-NAV-END> 11.89
<EXPENSE-RATIO> .61
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<AVG-DEBT-PER-SHARE> 0
</TABLE>
