<PAGE> PAGE 1
000 B000000 05/31/2000
000 C000000 909282
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 US EQUITY PORTFOLIO
001 B000000 811-7880
001 C000000 8099496644
002 A000000 ELIZABETHAN SQUARE, 2ND FLOOR SHEDDEN RD
002 B000000 GEORGETOWN
002 E010000 GRAND CAYMAN
002 E020000 E9
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
007 C011700 17
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
007 C013300 33
007 C013400 34
007 C013500 35
007 C013600 36
007 C013700 37
007 C013800 38
007 C013900 39
007 C014000 40
007 C014100 41
007 C014200 42
007 C014300 43
007 C014400 44
007 C014500 45
007 C014600 46
007 C014700 47
007 C014800 48
007 C014900 49
007 C015000 50
007 C015100 51
007 C015200 52
007 C015300 53
007 C015400 54
007 C015500 55
007 C015600 56
007 C015700 57
007 C015800 58
007 C015900 59
007 C016000 60
007 C016100 61
007 C016200 62
007 C016300 63
007 C016400 64
007 C016500 65
007 C016600 66
007 C016700 67
007 C016800 68
007 C016900 69
007 C017000 70
007 C017100 71
007 C017200 72
007 C017300 73
007 C017400 74
007 C017500 75
007 C017600 76
007 C017700 77
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 J.P. MORGAN INVESTMENT MANAGEMENT INC.
008 B000001 A
008 C000001 801-999999
008 D010001 NEW YORK
008 D020001 NY
008 D030001 10036
010 A000001 FUNDS DISTRIBUTOR, INC.
010 B000001 8-420518
010 C010001 BOSTON
010 C020001 MA
010 C030001 02116
010 A000002 MORGAN GUARANTY TRUST COMPANY 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 COMPANY
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.
014 B000001 8-99999999
014 A000002 FUNDS DISTRIBUTOR, INC.
014 B000002 8-420518
014 A000003 BOSTON INSTITUTIONAL SERVICES, INC.
014 B000003 8-99999999
014 A000004 JP MORGAN SECURITIES LTD.
<PAGE> PAGE 4
014 B000004 8-99999999
015 A000001 THE BANK OF NEW YORK
015 B000001 C
015 C010001 NEW YORK
015 C020001 NY
015 C030001 10007
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 69
019 C000000 J.P.MORGAN
020 A000001 SALOMON SMITH BARNEY, INC.
020 C000001 154
020 A000002 MERRILL LYNCH & CO., INC.
020 C000002 128
020 A000003 CS FIRST BOSTON
020 C000003 111
020 A000004 LEHMAN BROTHERS
020 C000004 91
020 A000005 SBC WARBURG DILLON READ
020 C000005 58
020 A000006 PAINE WEBBER
020 C000006 53
020 A000007 GOLDMAN SACHS
020 C000007 47
020 A000008 MORGAN STANLEY
020 C000008 45
020 A000009 FURMAN SELZ
020 C000009 42
020 A000010 INVESTMANT TECHNOLOGIES
020 C000010 30
021 000000 1149
022 A000001 GOLDMAN SACHS & CO.
022 C000001 1238486
022 D000001 56699
022 A000002 MORGAN GUARANTY OF NY
022 C000002 296120
022 D000002 273462
022 A000003 INVESTMENT TECHNOLOGIES
022 C000003 248274
022 D000003 145799
022 A000004 JP MORGAN
022 C000004 90047
022 D000004 75873
022 A000005 PAINE WEBBER
022 C000005 93309
022 D000005 13234
022 A000006 MORGAN STANLEY
022 C000006 50821
022 D000006 48982
022 A000007 SOLOMON SMITH BARNEY
<PAGE> PAGE 5
022 C000007 47555
022 D000007 42256
022 A000008 MERRILL LYNCH
022 C000008 31758
022 D000008 30491
022 A000009 STATE STREET
022 C000009 21896
022 D000009 36912
022 A000010 LEHMAN BROTHERS
022 C000010 28124
022 D000010 27732
023 C000000 2408885
023 D000000 930383
024 000000 Y
025 A000001 GOLDMAN SACHS GROUP, INC.
025 C000001 E
025 D000001 10049
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
028 A010000 119814
028 A020000 0
028 A030000 0
028 A040000 159203
028 B010000 8943
028 B020000 0
028 B030000 0
028 B040000 21579
028 C010000 4531
028 C020000 0
028 C030000 0
028 C040000 16785
028 D010000 10089
028 D020000 0
028 D030000 0
028 D040000 21021
028 E010000 4761
<PAGE> PAGE 6
028 E020000 0
028 E030000 0
028 E040000 13218
028 F010000 5051
028 F020000 0
028 F030000 0
028 F040000 11935
028 G010000 153189
028 G020000 0
028 G030000 0
028 G040000 243741
028 H000000 0
029 000000 N
030 A000000 0
030 B000000 0.00
030 C000000 0.00
031 A000000 0
031 B000000 0
032 000000 0
033 000000 0
034 000000 N
035 000000 0
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
040 000000 N
041 000000 N
042 A000000 0
042 B000000 0
042 C000000 0
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 0
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.400
048 A010000 0
048 A020000 0.000
048 B010000 0
048 B020000 0.000
048 C010000 0
048 C020000 0.000
048 D010000 0
048 D020000 0.000
048 E010000 0
<PAGE> PAGE 7
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 0
048 K020000 0.000
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
054 A000000 Y
054 B000000 N
054 C000000 N
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 N
054 H000000 N
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 N
054 M000000 Y
054 N000000 N
054 O000000 N
055 A000000 N
055 B000000 N
056 000000 Y
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 0
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
<PAGE> PAGE 8
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 0
063 B000000 0.0
066 A000000 Y
066 B000000 N
066 C000000 N
066 D000000 N
066 E000000 N
066 F000000 N
066 G000000 Y
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 N
070 B010000 Y
070 B020000 N
070 C010000 N
070 C020000 N
070 D010000 Y
070 D020000 N
070 E010000 N
070 E020000 N
070 F010000 Y
070 F020000 Y
070 G010000 Y
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 Y
070 K020000 Y
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 N
070 N010000 Y
070 N020000 N
070 O010000 Y
<PAGE> PAGE 9
070 O020000 N
070 P010000 N
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 601219
071 B000000 694057
071 C000000 672747
071 D000000 89
072 A000000 12
072 B000000 865
072 C000000 8561
072 D000000 0
072 E000000 0
072 F000000 2749
072 G000000 191
072 H000000 0
072 I000000 0
072 J000000 181
072 K000000 0
072 L000000 7
072 M000000 7
072 N000000 0
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 41
072 S000000 4
072 T000000 0
072 U000000 0
072 V000000 0
072 W000000 3
072 X000000 3183
072 Y000000 0
072 Z000000 6243
072AA000000 38139
072BB000000 0
072CC010000 0
072CC020000 24781
072DD010000 0
072DD020000 0
072EE000000 0
073 A010000 0.0000
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 1144
074 B000000 0
074 C000000 0
<PAGE> PAGE 10
074 D000000 1141
074 E000000 0
074 F000000 618508
074 G000000 0
074 H000000 0
074 I000000 5751
074 J000000 4349
074 K000000 1
074 L000000 893
074 M000000 9
074 N000000 631796
074 O000000 3255
074 P000000 229
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 93
074 S000000 0
074 T000000 628219
074 U010000 0
074 U020000 0
074 V010000 0.00
074 V020000 0.00
074 W000000 0.0000
074 X000000 2
074 Y000000 0
075 A000000 0
075 B000000 690618
076 000000 0.00
077 A000000 Y
077 B000000 Y
077 Q010000 Y
078 000000 N
080 A000000 FRANK CRYSTAL AND COMPANY
080 C000000 25000
081 A000000 Y
081 B000000 20
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
<PAGE> PAGE 11
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
028 A011000 0
028 A021000 0
028 A031000 0
028 A041000 0
028 B011000 0
028 B021000 0
028 B031000 0
028 B041000 0
028 C011000 0
028 C021000 0
028 C031000 0
028 C041000 0
028 D011000 0
028 D021000 0
028 D031000 0
028 D041000 0
028 E011000 0
028 E021000 0
028 E031000 0
028 E041000 0
028 F011000 0
028 F021000 0
028 F031000 0
028 F041000 0
028 G011000 0
028 G021000 0
028 G031000 0
028 G041000 0
028 H001000 0
SIGNATURE LENORE MCCABE
TITLE ASST TREASURER