<PAGE> PAGE 1
000 B000000 03/31/97
000 C000000 000906619
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 INVESTMENT PORTFOLIOS
001 B000000 811-7774
001 C000000 4122887496
002 A000000 1001 LIBERTY AVENUE
002 B000000 PITTSBURGH
002 C000000 PA
002 D010000 15222
002 D020000 3775
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 2
007 C010100 1
007 C010200 2
007 C010300 3
007 C020300 ASSET MANAGEMENT PORTFOLIO II
007 C030300 N
007 C010400 4
007 C020400 ASSET MANAGEMENT PORTFOLIO III
007 C030400 N
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
008 A00AA01 BANKERS TRUST COMPANY
008 B00AA01 A
008 C00AA01 801-xxxxxx
008 D01AA01 NEW YORK
<PAGE> PAGE 2
008 D02AA01 NY
008 D03AA01 10006
010 A00AA01 BANKERS TRUST COMPANY
010 C01AA01 NEW YORK
010 C02AA01 NY
010 C03AA01 10006
011 A00AA01 FEDERATED SERVICES COMPANY
011 B00AA01 8-41134
011 C01AA01 PITTSBURGH
011 C02AA01 PA
011 C03AA01 15222
011 C04AA01 3775
012 A00AA01 BANKERS TRUST COMPANY
012 B00AA01 84-xxxxxxx
012 C01AA01 NEW YORK
012 C02AA01 NY
012 C03AA01 10006
013 A00AA01 COOPERS & LYBRAND
013 B01AA01 KANSAS CITY
013 B02AA01 MO
013 B03AA01 64105
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 63
019 C00AA00 BTTINFUNDS
020 A000001 SMITH BARNEY
020 B000001 13-1912900
020 C000001 8
020 A000002 COWEN & COMPANY
020 B000002 13-5616116
020 C000002 3
020 A000003 QUICK & REILLY, INC
020 B000003 13-2779884
020 C000003 3
020 A000004 GOLDMAN SACHS
020 B000004 13-5108880
020 C000004 3
020 A000005 ROBINSON-HUMPHREY COMPANY INC
020 B000005 58-1472560
020 C000005 3
020 A000006 OTA SECURITIES
020 B000006 13-3545927
020 C000006 3
020 A000007 BRIDGE TRADING
020 B000007 43-1450530
<PAGE> PAGE 3
020 C000007 2
020 A000008 HOENIG
020 B000008 13-2656060
020 C000008 2
020 A000009 MERRILL LYNCH
020 B000009 13-5674085
020 C000009 1
020 A000010 COUNTY SECURITIES
020 C000010 1
021 000000 40
022 A000001 SANWA BANK
022 B000001 94-1752619
022 C000001 6692063
022 D000001 0
022 A000002 PRUDENTIAL BACHE
022 B000002 22-2347336
022 C000002 37119
022 D000002 20326
022 A000003 PAINE WEBBER
022 B000003 13-2638166
022 C000003 18282
022 D000003 22602
022 A000004 CHASE SECURITIES
022 B000004 13-3112953
022 C000004 18897
022 D000004 20093
022 A000005 FIRST BOSTON
022 B000005 13-5659485
022 C000005 15395
022 D000005 16774
022 A000006 LEHMAN BROTHERS
022 B000006 13-2518466
022 C000006 12839
022 D000006 13606
022 A000007 BEAR STEARNS
022 B000007 13-3299429
022 C000007 15507
022 D000007 9929
022 A000008 MORGAN STANLEY
022 B000008 13-2655998
022 C000008 12559
022 D000008 10232
022 A000009 MERRILL LYNCH
022 B000009 13-5674085
022 C000009 12658
022 D000009 9500
022 A000010 SALOMON BROTHERS
022 B000010 13-3082694
022 C000010 7128
022 D000010 7660
023 C000000 6866819
<PAGE> PAGE 4
023 D000000 148190
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
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
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 Y
<PAGE> PAGE 5
053 B00AA00 Y
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 Y
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 Y
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
058 A00AA00 N
058 B00AA00 N
058 C00AA00 N
058 D00AA00 N
058 E00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 0
063 A00AA00 0
063 B00AA00 0.0
077 A000000 Y
077 B000000 Y
078 000000 N
080 A00AA00 NATIONAL UNION INSURANCE COMPANY
080 C00AA00 13150
081 A00AA00 Y
081 B00AA00 22
082 A00AA00 Y
082 B00AA00 25
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
<PAGE> PAGE 6
086 E020000 0
086 F010000 0
086 F020000 0
028 A010300 987
028 A020300 0
028 A030300 0
028 A040300 526
028 B010300 732
028 B020300 0
028 B030300 0
028 B040300 479
028 C010300 1394
028 C020300 0
028 C030300 0
028 C040300 947
028 D010300 1131
028 D020300 0
028 D030300 0
028 D040300 891
028 E010300 892
028 E020300 0
028 E030300 0
028 E040300 526
028 F010300 1083
028 F020300 0
028 F030300 0
028 F040300 655
028 G010300 6219
028 G020300 0
028 G030300 0
028 G040300 4024
028 H000300 0
045 000300 Y
046 000300 N
047 000300 Y
048 000300 0.650
048 A010300 0
048 A020300 0.000
048 B010300 0
048 B020300 0.000
048 C010300 0
048 C020300 0.000
048 D010300 0
048 D020300 0.000
048 E010300 0
048 E020300 0.000
048 F010300 0
048 F020300 0.000
048 G010300 0
048 G020300 0.000
048 H010300 0
<PAGE> PAGE 7
048 H020300 0.000
048 I010300 0
048 I020300 0.000
048 J010300 0
048 J020300 0.000
048 K010300 0
048 K020300 0.000
055 A000300 N
055 B000300 N
056 000300 Y
057 000300 N
062 A000300 N
062 B000300 0.0
062 C000300 0.0
062 D000300 0.0
062 E000300 0.0
062 F000300 0.0
062 G000300 0.0
062 H000300 0.0
062 I000300 0.0
062 J000300 0.0
062 K000300 0.0
062 L000300 0.0
062 M000300 0.0
062 N000300 0.0
062 O000300 0.0
062 P000300 0.0
062 Q000300 0.0
062 R000300 0.0
066 A000300 Y
066 B000300 N
066 C000300 N
066 D000300 N
066 E000300 Y
066 F000300 N
066 G000300 N
067 000300 Y
068 A000300 N
068 B000300 N
069 000300 N
070 A010300 Y
070 A020300 Y
070 B010300 Y
070 B020300 N
070 C010300 Y
070 C020300 N
070 D010300 Y
070 D020300 N
070 E010300 Y
070 E020300 Y
070 F010300 Y
<PAGE> PAGE 8
070 F020300 Y
070 G010300 Y
070 G020300 N
070 H010300 Y
070 H020300 N
070 I010300 Y
070 I020300 N
070 J010300 Y
070 J020300 Y
070 K010300 Y
070 K020300 N
070 L010300 Y
070 L020300 Y
070 M010300 Y
070 M020300 Y
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 N
070 P020300 N
070 Q010300 Y
070 Q020300 N
070 R010300 Y
070 R020300 N
071 A000300 79632
071 B000300 75003
071 C000300 35853
071 D000300 209
072 A000300 12
072 B000300 2166
072 C000300 390
072 D000300 0
072 E000300 2
072 F000300 372
072 G000300 57
072 H000300 0
072 I000300 0
072 J000300 0
072 K000300 0
072 L000300 0
072 M000300 2
072 N000300 0
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 19
072 S000300 4
072 T000300 0
072 U000300 0
072 V000300 0
<PAGE> PAGE 9
072 W000300 1
072 X000300 455
072 Y000300 112
072 Z000300 2215
072AA000300 4207
072BB000300 0
072CC010300 0
072CC020300 258
072DD010300 0
072DD020300 0
072EE000300 0
073 A010300 0.0000
073 A020300 0.0000
073 B000300 0.0000
073 C000300 0.0000
074 A000300 516
074 B000300 8932
074 C000300 15883
074 D000300 15910
074 E000300 659
074 F000300 20962
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 2588
074 K000300 0
074 L000300 67
074 M000300 0
074 N000300 65517
074 O000300 3695
074 P000300 27
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 19
074 S000300 0
074 T000300 61776
074 U010300 0
074 U020300 0
074 V010300 0.00
074 V020300 0.00
074 W000300 0.0000
074 X000300 2
074 Y000300 0
075 A000300 0
075 B000300 57184
076 000300 0.00
028 A010400 168
028 A020400 0
028 A030400 0
<PAGE> PAGE 10
028 A040400 353
028 B010400 422
028 B020400 0
028 B030400 0
028 B040400 616
028 C010400 874
028 C020400 0
028 C030400 0
028 C040400 153
028 D010400 433
028 D020400 0
028 D030400 0
028 D040400 735
028 E010400 633
028 E020400 0
028 E030400 0
028 E040400 589
028 F010400 736
028 F020400 0
028 F030400 0
028 F040400 457
028 G010400 3266
028 G020400 0
028 G030400 0
028 G040400 2903
028 H000400 0
045 000400 Y
046 000400 N
047 000400 Y
048 000400 0.650
048 A010400 0
048 A020400 0.000
048 B010400 0
048 B020400 0.000
048 C010400 0
048 C020400 0.000
048 D010400 0
048 D020400 0.000
048 E010400 0
048 E020400 0.000
048 F010400 0
048 F020400 0.000
048 G010400 0
048 G020400 0.000
048 H010400 0
048 H020400 0.000
048 I010400 0
048 I020400 0.000
048 J010400 0
048 J020400 0.000
048 K010400 0
<PAGE> PAGE 11
048 K020400 0.000
055 A000400 N
055 B000400 N
056 000400 Y
057 000400 N
062 A000400 N
062 B000400 0.0
062 C000400 0.0
062 D000400 0.0
062 E000400 0.0
062 F000400 0.0
062 G000400 0.0
062 H000400 0.0
062 I000400 0.0
062 J000400 0.0
062 K000400 0.0
062 L000400 0.0
062 M000400 0.0
062 N000400 0.0
062 O000400 0.0
062 P000400 0.0
062 Q000400 0.0
062 R000400 0.0
066 A000400 Y
066 B000400 N
066 C000400 N
066 D000400 N
066 E000400 N
066 F000400 Y
066 G000400 N
067 000400 Y
068 A000400 N
068 B000400 N
069 000400 N
070 A010400 Y
070 A020400 Y
070 B010400 Y
070 B020400 N
070 C010400 Y
070 C020400 N
070 D010400 Y
070 D020400 N
070 E010400 Y
070 E020400 Y
070 F010400 Y
070 F020400 Y
070 G010400 Y
070 G020400 N
070 H010400 Y
070 H020400 N
070 I010400 Y
<PAGE> PAGE 12
070 I020400 N
070 J010400 Y
070 J020400 Y
070 K010400 Y
070 K020400 N
070 L010400 Y
070 L020400 Y
070 M010400 Y
070 M020400 Y
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 N
070 P020400 N
070 Q010400 Y
070 Q020400 N
070 R010400 Y
070 R020400 N
071 A000400 54671
071 B000400 53179
071 C000400 17340
071 D000400 307
072 A000400 12
072 B000400 1516
072 C000400 105
072 D000400 0
072 E000400 1
072 F000400 201
072 G000400 31
072 H000400 0
072 I000400 0
072 J000400 0
072 K000400 0
072 L000400 0
072 M000400 2
072 N000400 0
072 O000400 0
072 P000400 0
072 Q000400 0
072 R000400 16
072 S000400 4
072 T000400 0
072 U000400 0
072 V000400 0
072 W000400 1
072 X000400 255
072 Y000400 69
072 Z000400 1436
072AA000400 1897
072BB000400 0
<PAGE> PAGE 13
072CC010400 0
072CC020400 779
072DD010400 0
072DD020400 0
072EE000400 0
073 A010400 0.0000
073 A020400 0.0000
073 B000400 0.0000
073 C000400 0.0000
074 A000400 317
074 B000400 4051
074 C000400 11699
074 D000400 13414
074 E000400 471
074 F000400 4725
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 1734
074 K000400 0
074 L000400 94
074 M000400 0
074 N000400 36505
074 O000400 3934
074 P000400 12
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 17
074 S000400 0
074 T000400 32542
074 U010400 0
074 U020400 0
074 V010400 0.00
074 V020400 0.00
074 W000400 0.0000
074 X000400 2
074 Y000400 0
075 A000400 0
075 B000400 30973
076 000400 0.00
SIGNATURE J. S. NEUMAN
TITLE SECRETARY
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the BT
Asset Management II Portfolio Annual Report dated March 31, 1997, and is
qualified in its entirety by reference to such Annual Report.
</LEGEND>
<CIK> 0000906619
<NAME> BT INVESTMENT PORTFOLIOS
<SERIES>
<NUMBER> 3
<NAME> BT ASSET MANAGEMENT II PORTFOLIO
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-1997
<PERIOD-START> APR-01-1996
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 61069590
<INVESTMENTS-AT-VALUE> 62346018
<RECEIVABLES> 2836700
<ASSETS-OTHER> 516454
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 65699172
<PAYABLE-FOR-SECURITIES> 3694962
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 228283
<TOTAL-LIABILITIES> 3923245
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 60962522
<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> 813405
<NET-ASSETS> 61775927
<DIVIDEND-INCOME> 390307
<INTEREST-INCOME> 2167887
<OTHER-INCOME> 0
<EXPENSES-NET> 343116
<NET-INVESTMENT-INCOME> 2215078
<REALIZED-GAINS-CURRENT> 4207235
<APPREC-INCREASE-CURRENT> (257947)
<NET-CHANGE-FROM-OPS> 6164366
<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> 10376379
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 371709
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 454707
<AVERAGE-NET-ASSETS> 57184485
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 60
<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 Portfolios Annual Report dated March 31, 1997, and is qualified
in its entirety by reference to such Annual Report.
</LEGEND>
<CIK> 0000906619
<NAME> BT INVESTMENT PORTFOLIOS
<SERIES>
<NUMBER> 4
<NAME> BT ASSET MANAGEMENT III PORTFOLIO
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-1997
<PERIOD-START> APR-01-1996
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 34529855
<INVESTMENTS-AT-VALUE> 34359563
<RECEIVABLES> 1923286
<ASSETS-OTHER> 316639
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 36599488
<PAYABLE-FOR-SECURITIES> 3933932
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 124020
<TOTAL-LIABILITIES> 4057952
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 32945293
<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> (403757)
<NET-ASSETS> 32541536
<DIVIDEND-INCOME> 104698
<INTEREST-INCOME> 1517015
<OTHER-INCOME> 0
<EXPENSES-NET> 185843
<NET-INVESTMENT-INCOME> 1435870
<REALIZED-GAINS-CURRENT> 1896802
<APPREC-INCREASE-CURRENT> (778720)
<NET-CHANGE-FROM-OPS> 2553952
<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> 3672871
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 201330
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 255674
<AVERAGE-NET-ASSETS> 30973083
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 60
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>