<PAGE> PAGE 1
000 A000000 01/31/2000
000 C000000 909010
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 THE TAX EXEMPT BOND PORTFOLIO
001 B000000 811-7848
001 C000000 6175573334
002 A000000 60 STATE ST.SUITE 1300
002 B000000 BOSTON
002 C000000 MA
002 D010000 02109
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
007 C011100 11
007 C011200 12
007 C011300 13
007 C011400 14
007 C011500 15
007 C011600 16
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007 C011800 18
007 C011900 19
007 C012000 20
007 C012100 21
007 C012200 22
007 C012300 23
007 C012400 24
007 C012500 25
007 C012600 26
007 C012700 27
007 C012800 28
007 C012900 29
<PAGE> PAGE 2
007 C013000 30
007 C013100 31
007 C013200 32
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007 C015700 57
007 C015800 58
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007 C016000 60
007 C016100 61
007 C016200 62
007 C016300 63
007 C016400 64
007 C016500 65
007 C016600 66
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007 C016800 68
007 C016900 69
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007 C017800 78
007 C017900 79
007 C018000 80
<PAGE> PAGE 3
007 C018100 81
007 C018200 82
007 C018300 83
007 C018400 84
007 C018500 85
007 C018600 86
007 C018700 87
007 C018800 88
007 C018900 89
007 C019000 90
008 A000001 MORGAN GUARANTY TRUST CO. OF NEW YORK
008 B000001 A
008 C000001 801-999999
008 D010001 NEW YORK
008 D020001 NY
008 D030001 10036
008 A000002 J.P. MORGAN INVESTMENT MANAGEMENT, INC.
008 B000002 A
008 C000002 801-999999
008 D010002 NEW YORK
008 D020002 NY
008 D030002 10036
010 A000001 FUNDS DISTRIBUTOR, INC.
010 B000001 8-420518
010 C010001 BOSTON
010 C020001 MA
010 C030001 02116
010 A000002 MORGAN GUARANTY TRUST CO. OF NEW YORK
010 B000002 8-49999
010 C010002 NEW YORK
010 C020002 NY
010 C030002 10036
010 A000003 PIERPONT GROUP, INC.
010 C010003 NEW YORK
010 C020003 NY
010 C030003 10017
011 A000001 FUNDS DISTRIBUTOR,INC.
011 B000001 8-420518
011 C010001 BOSTON
011 C020001 MA
011 C030001 02116
012 A000001 STATE STREET BANK AND TRUST CO.
012 B000001 85-50003
012 C010001 BOSTON
012 C020001 MA
012 C030001 02101
013 A000001 PRICEWATERHOUSECOOPERS LLP
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10036
014 A000001 J.P. MORGAN SECURITIES, INC.
<PAGE> PAGE 4
014 B000001 8-99999
014 A000002 J.P. MORGAN SECURITIES LTD.
014 B000002 8-99999
014 A000003 FUNDS DISTRIBUTOR,INC.
014 B000003 8-420518
014 A000004 BOSTON INSTITUTIONAL SERVICES INC.
014 B000004 8-99999
015 A000001 STATE STREET BANK AND TRUST CO.
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02101
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 71
019 C000000 J.P.MORGAN
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020 C000004 0
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022 A000001 SALOMON SMITH BARNEY
022 C000001 119760
022 D000001 66329
022 A000002 MORGAN STANLEY
022 C000002 109549
022 D000002 75620
022 A000003 LEHMAN BROS INC
022 C000003 64879
022 D000003 83839
022 A000004 BEAR STERNS
022 C000004 53153
022 D000004 69268
022 A000005 PAINE WEBBER INCORPORATED
022 C000005 64779
022 D000005 43129
022 A000006 MERRILL LYNCH
022 C000006 26989
022 D000006 57668
022 A000007 GOLDMAN SACHS
022 C000007 33613
022 D000007 28871
022 A000008 RAYMOND JAMES AND ASSOC
022 C000008 24683
<PAGE> PAGE 5
022 D000008 4048
022 A000009 PRUDENTIAL SECURITIES
022 C000009 8931
022 D000009 11584
022 A000010 LEGG MASON WOOD
022 C000010 4119
022 D000010 11367
023 C000000 564947
023 D000000 611345
024 000000 N
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<PAGE> PAGE 6
028 F040000 28376
028 G010000 166220
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<PAGE> PAGE 7
048 H020000 0.000
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049 000000 N
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<PAGE> PAGE 8
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070 D010000 N
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070 E020000 N
070 F010000 N
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 N
070 J020000 N
070 K010000 Y
070 K020000 N
070 L010000 N
070 L020000 N
070 M010000 N
070 M020000 N
070 N010000 Y
070 N020000 N
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070 P010000 Y
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070 R020000 N
071 A000000 351349
071 B000000 338056
071 C000000 784109
<PAGE> PAGE 9
071 D000000 43
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074 D000000 757667
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<PAGE> PAGE 10
074 N000000 790614
074 O000000 7873
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SIGNATURE RICHARD W. INGRAM
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial data extracted from these semiannual
report dated January 31, 2000 for The Tax Exempt Bond Portfolio and is qualified
in its entirety by reference to such semiannual report.
</LEGEND>
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-START> AUG-31-2000
<PERIOD-END> JAN-31-2000
<INVESTMENTS-AT-COST> 778,973
<INVESTMENTS-AT-VALUE> 777,671
<RECEIVABLES> 12,936
<ASSETS-OTHER> 7
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 790614
<PAYABLE-FOR-SECURITIES> 7,873
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 316
<TOTAL-LIABILITIES> 8,189
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
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<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 782,425
<DIVIDEND-INCOME> 0
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<OTHER-INCOME> 0
<EXPENSES-NET> 1,480
<NET-INVESTMENT-INCOME> 18,567
<REALIZED-GAINS-CURRENT> (9,967)
<APPREC-INCREASE-CURRENT> (10,038)
<NET-CHANGE-FROM-OPS> (1,438)
<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> (39,445)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,212
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,480
<AVERAGE-NET-ASSETS> 806,355
<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> .37
</TABLE>
