SARATOGA ADVANTAGE TRUST
NSAR-B, 1996-10-30
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<PAGE>      PAGE  1
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<PAGE>      PAGE  8
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<PAGE>      PAGE  11
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SIGNATURE   RICHARD PETEKA                               
TITLE       ASST TREASURER      
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000924628
<NAME> THE SARATOGA ADVANTAGE TRUST
<SERIES>
   <NUMBER> 1
   <NAME> U.S. GOVERNMENT MONEY MARKET PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          AUG-31-1996
<PERIOD-START>                             SEP-01-1995 
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000924628
<NAME> THE SARATOGA ADVANTAGE TRUST
<SERIES>
   <NUMBER> 7
   <NAME> INTERNATIONAL EQUITY PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          AUG-31-1996
<PERIOD-START>                             SEP-01-1995
<PERIOD-END>                               AUG-31-1996
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<ASSETS-OTHER>                                 629,045
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000924628
<NAME> THE SARATOGA ADVANTAGE TRUST
<SERIES>
   <NUMBER> 2
   <NAME> INVESTMENT QUALITY BOND PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
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<PERIOD-START>                             SEP-01-1995
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<OVERDISTRIBUTION-GAINS>                             0
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<PER-SHARE-NAV-BEGIN>                            10.08
<PER-SHARE-NII>                                    .48
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000924628
<NAME> THE SARATOGA ADVANTAGE TRUST
<SERIES>
   <NUMBER> 5
   <NAME> LARGE CAPITALIZATION GROWTH PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          AUG-31-1996
<PERIOD-START>                             SEP-01-1995
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<INVESTMENTS-AT-COST>                       31,212,180
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<SHARES-COMMON-PRIOR>                          863,712
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<NUMBER-OF-SHARES-REDEEMED>                  (400,706)
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<GROSS-EXPENSE>                                383,345
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<PER-SHARE-NAV-BEGIN>                            12.86
<PER-SHARE-NII>                                  (.02)
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<PER-SHARE-DIVIDEND>                             (.01)
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<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              13.16
<EXPENSE-RATIO>                                   1.34
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000924628
<NAME> THESARATOGA ADVANTAGE TRUST
<SERIES>
   <NUMBER> 4
   <NAME> LARGE CAPITALIZATION VALUE PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          AUG-31-1996
<PERIOD-START>                             SEP-01-1995
<PERIOD-END>                               AUG-31-1996
<INVESTMENTS-AT-COST>                       16,117,632
<INVESTMENTS-AT-VALUE>                      18,042,515
<RECEIVABLES>                                  167,305
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<OTHER-ITEMS-ASSETS>                                 0
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    15,949,992
<SHARES-COMMON-STOCK>                        1,264,513
<SHARES-COMMON-PRIOR>                          448,434
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<DIVIDEND-INCOME>                              144,879
<INTEREST-INCOME>                              114,247
<OTHER-INCOME>                                       0
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<EQUALIZATION>                                       0
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<NUMBER-OF-SHARES-SOLD>                        996,818
<NUMBER-OF-SHARES-REDEEMED>                  (193,154)
<SHARES-REINVESTED>                             12,415
<NET-CHANGE-IN-ASSETS>                      12,759,769
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<GROSS-EXPENSE>                                254,883
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<PER-SHARE-NAV-BEGIN>                            12.30
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<PER-SHARE-NAV-END>                              14.45
<EXPENSE-RATIO>                                   1.28
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000924628
<NAME> THE SARATOGA ADVANTAGE TRUST
<SERIES>
   <NUMBER> 3
   <NAME> MUNICIPAL BOND PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          AUG-31-1996
<PERIOD-START>                             SEP-01-1995
<PERIOD-END>                               AUG-31-1996
<INVESTMENTS-AT-COST>                        4,432,785
<INVESTMENTS-AT-VALUE>                       4,435,433
<RECEIVABLES>                                  104,070
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     4,716,925
<SHARES-COMMON-STOCK>                          470,817
<SHARES-COMMON-PRIOR>                          148,780
<ACCUMULATED-NII-CURRENT>                            0
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<NUMBER-OF-SHARES-REDEEMED>                   (76,024)
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<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000924628
<NAME> THE SARATOGA ADVANTAGE TRUST
<SERIES>
   <NUMBER> 6
   <NAME> SMALL CAPITALIZATION PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          AUG-31-1996
<PERIOD-START>                             SEP-01-1995
<PERIOD-END>                               AUG-31-1996
<INVESTMENTS-AT-COST>                       17,930,217
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<DISTRIBUTIONS-OF-INCOME>                      (1,315)
<DISTRIBUTIONS-OF-GAINS>                     (492,415)
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<PER-SHARE-NAV-BEGIN>                            12.62
<PER-SHARE-NII>                                  (.09)
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</TABLE>


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