<PAGE> PAGE 1
000 A000000 02/28/97
000 C000000 0000924628
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 THE SARATOGA ADVANTAGE TRUST
001 B000000 811-8542
001 C000000 2125041651
002 A000000 33 MAIDEN LANE
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10038
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 7
007 C010100 1
007 C020100 US GOVERNMENT MONEY MARKET PORTFOLIO
007 C030100 N
007 C010200 2
007 C020200 INVESTMENT QUALITY BOND PORTFOLIO
007 C030200 N
007 C010300 3
007 C020300 MUNICIPAL BOND PORTFOLIO
007 C030300 N
007 C010400 4
007 C020400 LARGE CAPITALIZATION VALUE PORTFOLIO
007 C030400 N
007 C010500 5
007 C020500 LARGE CAPITALIZATION GROWTH PORTFOLIO
007 C030500 N
007 C010600 6
007 C020600 SMALL CAPITALIZATION PORTFOLIO
007 C030600 N
007 C010700 7
007 C020700 INTERNATIONAL EQUITY PORTFOLIO
007 C030700 N
007 C010800 8
007 C010900 9
007 C011000 10
015 B00AA01 C
019 B00AA00 0
020 A000001 UBS SECURITIES, INC
020 B000001 13-2932996
020 C000001 12
<PAGE> PAGE 2
020 A000002 PAINE WEBBER, INC
020 B000002 13-2638166
020 C000002 10
020 A000003 JOSEPTHAL & CO
020 B000003 13-1850914
020 C000003 8
020 A000004 SOUNDVIEW FINANCIAL
020 B000004 13-2998183
020 C000004 4
020 A000005 GOLDMAN SACHS
020 B000005 13-5108880
020 C000005 4
020 A000006 ALLIED RESEARCH
020 B000006 75-1872581
020 C000006 4
020 A000007 BOSTON INSTITUTIONAL SERVICES INC.
020 B000007 04-2479358
020 C000007 3
020 A000008 MERRILL LYNCH PIERCE, FENNER & SMITH, INC.
020 B000008 13-5670485
020 C000008 2
020 A000009 OFF THE RECORD RESEARCH
020 B000009 13-3545927
020 C000009 2
020 A000010 SBC WARBURG
020 B000010 13-3340045
020 C000010 1
021 000000 61
022 A000001 MERRILL LYNCH PIERCE, FENNER & SMITH, INC
022 B000001 13-5670485
022 C000001 137952
022 D000001 9867
022 A000002 LEHMAN BROTHERS, INC
022 B000002 13-2518466
022 C000002 112925
022 D000002 731
022 A000003 HSBC SECURITIES INC.
022 B000003 13-2650272
022 C000003 27331
022 D000003 199
022 A000004 GENERAL ELECTRIC CAPITAL CORP
022 B000004 13-1500700
022 C000004 10846
022 D000004 0
022 A000005 DEAN WITTER REYNOLDS
022 B000005 94-1671384
022 C000005 6496
022 D000005 2300
022 A000006 PAINE WEBBER INC
022 B000006 13-2638166
022 C000006 7381
<PAGE> PAGE 3
022 D000006 990
022 A000007 FORD MOTOR CREDIT CORP.
022 B000007 38-1612444
022 C000007 6352
022 D000007 0
022 A000008 JOSEPTHAL & CO
022 B000008 13-1850914
022 C000008 4715
022 D000008 873
022 A000009 GOLDMAN SACHS
022 B000009 13-5108880
022 C000009 1359
022 D000009 3688
022 A000010 IBM CREDIT CORP.
022 B000010 22-2351962
022 C000010 4575
022 D000010 0
023 C000000 369106
023 D000000 42395
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
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
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
<PAGE> PAGE 4
044 00AA00 0
048 00AA00 0.000
048 A01AA00 0
048 A02AA00 0.000
048 B01AA00 0
048 B02AA00 0.000
048 C01AA00 0
048 C02AA00 0.000
048 D01AA00 0
048 D02AA00 0.000
048 E01AA00 0
048 E02AA00 0.000
048 F01AA00 0
048 F02AA00 0.000
048 G01AA00 0
048 G02AA00 0.000
048 H01AA00 0
048 H02AA00 0.000
048 I01AA00 0
048 I02AA00 0.000
048 J01AA00 0
048 J02AA00 0.000
048 K01AA00 0
048 K02AA00 0.000
061 00AA00 10000
077 A000000 Y
077 C000000 Y
078 000000 N
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
080 C00AA00 8475
081 A00AA00 Y
081 B00AA00 14
082 A00AA00 Y
082 B00AA00 50000
083 B00AA00 0
084 B00AA00 0
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
086 E020000 0
086 F010000 0
086 F020000 0
028 A010100 2826
028 A020100 78
028 A030100 0
<PAGE> PAGE 5
028 A040100 2234
028 B010100 1430
028 B020100 82
028 B030100 0
028 B040100 1428
028 C010100 1495
028 C020100 77
028 C030100 0
028 C040100 2172
028 D010100 1098
028 D020100 80
028 D030100 0
028 D040100 1412
028 E010100 5265
028 E020100 95
028 E030100 0
028 E040100 1191
028 F010100 1775
028 F020100 87
028 F030100 0
028 F040100 1555
028 G010100 13889
028 G020100 499
028 G030100 0
028 G040100 9992
028 H000100 0
062 A000100 Y
062 B000100 3.6
062 C000100 96.1
062 D000100 0.0
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 0.0
062 N000100 0.0
062 O000100 0.0
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
063 A000100 69
063 B000100 0.0
066 A000100 N
071 A000100 0
071 B000100 0
071 C000100 0
071 D000100 0
<PAGE> PAGE 6
072 A000100 6
072 B000100 637
072 C000100 0
072 D000100 0
072 E000100 0
072 F000100 56
072 G000100 21
072 H000100 0
072 I000100 37
072 J000100 24
072 K000100 0
072 L000100 5
072 M000100 4
072 N000100 9
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 5
072 S000100 2
072 T000100 0
072 U000100 6
072 V000100 0
072 W000100 2
072 X000100 171
072 Y000100 37
072 Z000100 503
072AA000100 0
072BB000100 0
072CC010100 0
072CC020100 0
072DD010100 503
072DD020100 0
072EE000100 0
073 A010100 0.0210
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 A000100 16
074 B000100 0
074 C000100 27229
074 D000100 0
074 E000100 0
074 F000100 0
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 0
074 K000100 0
074 L000100 97
074 M000100 41
074 N000100 27383
<PAGE> PAGE 7
074 O000100 0
074 P000100 7
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 73
074 S000100 0
074 T000100 27303
074 U010100 27303
074 U020100 0
074 V010100 1.00
074 V020100 0.00
074 W000100 1.0001
074 X000100 1939
074 Y000100 0
075 A000100 23981
075 B000100 0
076 000100 0.00
028 A010200 1014
028 A020200 70
028 A030200 0
028 A040200 415
028 B010200 990
028 B020200 73
028 B030200 0
028 B040200 434
028 C010200 707
028 C020200 72
028 C030200 0
028 C040200 454
028 D010200 787
028 D020200 98
028 D030200 0
028 D040200 515
028 E010200 2612
028 E020200 80
028 E030200 0
028 E040200 724
028 F010200 1118
028 F020200 80
028 F030200 0
028 F040200 903
028 G010200 7228
028 G020200 474
028 G030200 0
028 G040200 3445
028 H000200 0
062 A000200 Y
062 B000200 0.0
062 C000200 0.0
<PAGE> PAGE 8
062 D000200 0.0
062 E000200 0.0
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
062 I000200 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 59.3
062 N000200 0.0
062 O000200 0.0
062 P000200 36.7
062 Q000200 0.0
062 R000200 0.0
063 A000200 0
063 B000200 3.5
066 A000200 N
071 A000200 5034
071 B000200 1149
071 C000200 18390
071 D000200 6
072 A000200 6
072 B000200 577
072 C000200 0
072 D000200 0
072 E000200 0
072 F000200 52
072 G000200 21
072 H000200 0
072 I000200 27
072 J000200 23
072 K000200 0
072 L000200 4
072 M000200 0
072 N000200 8
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 5
072 S000200 2
072 T000200 0
072 U000200 6
072 V000200 0
072 W000200 2
072 X000200 150
072 Y000200 37
072 Z000200 464
072AA000200 4
072BB000200 0
072CC010200 205
<PAGE> PAGE 9
072CC020200 0
072DD010200 464
072DD020200 0
072EE000200 21
073 A010200 0.2463
073 A020200 0.0000
073 B000200 0.0111
073 C000200 0.0000
074 A000200 466
074 B000200 0
074 C000200 0
074 D000200 20454
074 E000200 0
074 F000200 0
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 0
074 K000200 0
074 L000200 402
074 M000200 41
074 N000200 21363
074 O000200 0
074 P000200 8
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 46
074 S000200 0
074 T000200 21309
074 U010200 2125
074 U020200 0
074 V010200 10.03
074 V020200 0.00
074 W000200 0.0000
074 X000200 1477
074 Y000200 0
075 A000200 0
075 B000200 18951
076 000200 0.00
028 A010300 254
028 A020300 17
028 A030300 0
028 A040300 74
028 B010300 372
028 B020300 17
028 B030300 0
028 B040300 98
028 C010300 262
028 C020300 18
<PAGE> PAGE 10
028 C030300 0
028 C040300 107
028 D010300 249
028 D020300 19
028 D030300 0
028 D040300 93
028 E010300 1315
028 E020300 20
028 E030300 0
028 E040300 250
028 F010300 324
028 F020300 23
028 F030300 0
028 F040300 358
028 G010300 2776
028 G020300 114
028 G030300 0
028 G040300 980
028 H000300 0
062 A000300 Y
062 B000300 0.0
062 C000300 0.0
062 D000300 0.0
062 E000300 6.0
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 91.8
062 P000300 0.0
062 Q000300 0.0
062 R000300 0.0
063 A000300 0
063 B000300 17.3
066 A000300 N
071 A000300 2247
071 B000300 213
071 C000300 4939
071 D000300 4
072 A000300 6
072 B000300 149
072 C000300 0
072 D000300 0
072 E000300 0
072 F000300 15
072 G000300 21
<PAGE> PAGE 11
072 H000300 0
072 I000300 8
072 J000300 28
072 K000300 0
072 L000300 1
072 M000300 0
072 N000300 6
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 6
072 S000300 1
072 T000300 0
072 U000300 6
072 V000300 0
072 W000300 2
072 X000300 94
072 Y000300 61
072 Z000300 116
072AA000300 5
072BB000300 0
072CC010300 102
072CC020300 0
072DD010300 116
072DD020300 0
072EE000300 0
073 A010300 0.2089
073 A020300 0.0000
073 B000300 0.0000
073 C000300 0.0000
074 A000300 8
074 B000300 0
074 C000300 401
074 D000300 6171
074 E000300 0
074 F000300 0
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 0
074 K000300 7
074 L000300 131
074 M000300 39
074 N000300 6757
074 O000300 0
074 P000300 3
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 30
<PAGE> PAGE 12
074 S000300 0
074 T000300 6724
074 U010300 659
074 U020300 0
074 V010300 10.20
074 V020300 0.00
074 W000300 0.0000
074 X000300 388
074 Y000300 0
075 A000300 0
075 B000300 5618
076 000300 0.00
028 A010400 1364
028 A020400 0
028 A030400 0
028 A040400 461
028 B010400 1089
028 B020400 0
028 B030400 0
028 B040400 368
028 C010400 1923
028 C020400 0
028 C030400 0
028 C040400 463
028 D010400 1111
028 D020400 512
028 D030400 0
028 D040400 434
028 E010400 679
028 E020400 0
028 E030400 0
028 E040400 1102
028 F010400 1070
028 F020400 0
028 F030400 0
028 F040400 836
028 G010400 7236
028 G020400 512
028 G030400 0
028 G040400 3664
028 H000400 0
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
<PAGE> PAGE 13
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
063 A000400 0
063 B000400 0.0
066 A000400 Y
066 B000400 N
066 C000400 Y
066 D000400 N
066 E000400 N
066 F000400 N
066 G000400 N
071 A000400 5744
071 B000400 1497
071 C000400 19723
071 D000400 8
072 A000400 6
072 B000400 74
072 C000400 140
072 D000400 0
072 E000400 0
072 F000400 73
072 G000400 21
072 H000400 0
072 I000400 34
072 J000400 27
072 K000400 0
072 L000400 5
072 M000400 4
072 N000400 8
072 O000400 0
072 P000400 0
072 Q000400 0
072 R000400 5
072 S000400 2
072 T000400 0
072 U000400 6
072 V000400 0
072 W000400 3
072 X000400 188
072 Y000400 42
072 Z000400 68
072AA000400 341
072BB000400 0
072CC010400 2581
072CC020400 0
<PAGE> PAGE 14
072DD010400 128
072DD020400 0
072EE000400 391
073 A010400 0.0832
073 A020400 0.0000
073 B000400 0.2649
073 C000400 0.0000
074 A000400 60
074 B000400 0
074 C000400 2396
074 D000400 0
074 E000400 0
074 F000400 22325
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 0
074 K000400 0
074 L000400 90
074 M000400 41
074 N000400 24912
074 O000400 0
074 P000400 6
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 75
074 S000400 0
074 T000400 24831
074 U010400 1528
074 U020400 0
074 V010400 16.25
074 V020400 0.00
074 W000400 0.0000
074 X000400 2150
074 Y000400 0
075 A000400 0
075 B000400 22539
076 000400 0.00
028 A010500 2158
028 A020500 0
028 A030500 0
028 A040500 990
028 B010500 2004
028 B020500 0
028 B030500 0
028 B040500 806
028 C010500 1346
028 C020500 0
028 C030500 0
<PAGE> PAGE 15
028 C040500 641
028 D010500 1783
028 D020500 0
028 D030500 0
028 D040500 777
028 E010500 1326
028 E020500 0
028 E030500 0
028 E040500 6213
028 F010500 1440
028 F020500 0
028 F030500 0
028 F040500 2269
028 G010500 10057
028 G020500 0
028 G030500 0
028 G040500 11696
028 H000500 0
062 A000500 N
062 B000500 0.0
062 C000500 0.0
062 D000500 0.0
062 E000500 0.0
062 F000500 0.0
062 G000500 0.0
062 H000500 0.0
062 I000500 0.0
062 J000500 0.0
062 K000500 0.0
062 L000500 0.0
062 M000500 0.0
062 N000500 0.0
062 O000500 0.0
062 P000500 0.0
062 Q000500 0.0
062 R000500 0.0
063 A000500 0
063 B000500 0.0
066 A000500 Y
066 B000500 N
066 C000500 N
066 D000500 Y
066 E000500 N
066 F000500 N
066 G000500 N
071 A000500 10328
071 B000500 10348
071 C000500 37250
071 D000500 28
072 A000500 6
072 B000500 33
<PAGE> PAGE 16
072 C000500 211
072 D000500 0
072 E000500 0
072 F000500 129
072 G000500 21
072 H000500 0
072 I000500 53
072 J000500 28
072 K000500 0
072 L000500 8
072 M000500 4
072 N000500 7
072 O000500 0
072 P000500 0
072 Q000500 0
072 R000500 5
072 S000500 4
072 T000500 0
072 U000500 6
072 V000500 0
072 W000500 3
072 X000500 268
072 Y000500 13
072 Z000500 -11
072AA000500 2049
072BB000500 0
072CC010500 4812
072CC020500 0
072DD010500 0
072DD020500 0
072EE000500 0
073 A010500 0.0000
073 A020500 0.0000
073 B000500 0.0000
073 C000500 0.0000
074 A000500 295
074 B000500 0
074 C000500 500
074 D000500 0
074 E000500 0
074 F000500 38296
074 G000500 0
074 H000500 0
074 I000500 0
074 J000500 0
074 K000500 0
074 L000500 143
074 M000500 42
074 N000500 39276
074 O000500 0
074 P000500 23
<PAGE> PAGE 17
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
074 R040500 81
074 S000500 0
074 T000500 39172
074 U010500 2499
074 U020500 0
074 V010500 15.67
074 V020500 0.00
074 W000500 0.0000
074 X000500 2125
074 Y000500 0
075 A000500 0
075 B000500 39874
076 000500 0.00
028 A010600 873
028 A020600 0
028 A030600 0
028 A040600 683
028 B010600 553
028 B020600 0
028 B030600 0
028 B040600 364
028 C010600 528
028 C020600 0
028 C030600 0
028 C040600 491
028 D010600 888
028 D020600 1374
028 D030600 0
028 D040600 258
028 E010600 575
028 E020600 0
028 E030600 0
028 E040600 427
028 F010600 598
028 F020600 0
028 F030600 0
028 F040600 474
028 G010600 4015
028 G020600 1374
028 G030600 0
028 G040600 2697
028 H000600 0
062 A000600 N
062 B000600 0.0
062 C000600 0.0
062 D000600 0.0
062 E000600 0.0
<PAGE> PAGE 18
062 F000600 0.0
062 G000600 0.0
062 H000600 0.0
062 I000600 0.0
062 J000600 0.0
062 K000600 0.0
062 L000600 0.0
062 M000600 0.0
062 N000600 0.0
062 O000600 0.0
062 P000600 0.0
062 Q000600 0.0
062 R000600 0.0
063 A000600 0
063 B000600 0.0
066 A000600 Y
066 B000600 Y
066 C000600 N
066 D000600 N
066 E000600 N
066 F000600 N
066 G000600 N
071 A000600 12801
071 B000600 12338
071 C000600 21678
071 D000600 57
072 A000600 6
072 B000600 19
072 C000600 13
072 D000600 0
072 E000600 0
072 F000600 74
072 G000600 21
072 H000600 0
072 I000600 34
072 J000600 35
072 K000600 0
072 L000600 4
072 M000600 0
072 N000600 8
072 O000600 0
072 P000600 0
072 Q000600 0
072 R000600 5
072 S000600 2
072 T000600 0
072 U000600 6
072 V000600 0
072 W000600 4
072 X000600 193
072 Y000600 46
<PAGE> PAGE 19
072 Z000600 -115
072AA000600 1702
072BB000600 0
072CC010600 0
072CC020600 3754
072DD010600 0
072DD020600 0
072EE000600 1384
073 A010600 0.0000
073 A020600 0.0000
073 B000600 0.8332
073 C000600 0.0000
074 A000600 2
074 B000600 0
074 C000600 1450
074 D000600 0
074 E000600 0
074 F000600 19656
074 G000600 0
074 H000600 0
074 I000600 0
074 J000600 355
074 K000600 0
074 L000600 63
074 M000600 41
074 N000600 21567
074 O000600 298
074 P000600 5
074 Q000600 0
074 R010600 0
074 R020600 0
074 R030600 0
074 R040600 51
074 S000600 0
074 T000600 21213
074 U010600 1834
074 U020600 0
074 V010600 11.57
074 V020600 0.00
074 W000600 0.0000
074 X000600 2061
074 Y000600 0
075 A000600 0
075 B000600 22833
076 000600 0.00
028 A010700 303
028 A020700 0
028 A030700 0
028 A040700 275
028 B010700 521
028 B020700 0
<PAGE> PAGE 20
028 B030700 0
028 B040700 166
028 C010700 286
028 C020700 0
028 C030700 0
028 C040700 189
028 D010700 396
028 D020700 159
028 D030700 0
028 D040700 88
028 E010700 285
028 E020700 0
028 E030700 0
028 E040700 196
028 F010700 309
028 F020700 0
028 F030700 0
028 F040700 346
028 G010700 2100
028 G020700 159
028 G030700 0
028 G040700 1260
028 H000700 0
062 A000700 N
062 B000700 0.0
062 C000700 0.0
062 D000700 0.0
062 E000700 0.0
062 F000700 0.0
062 G000700 0.0
062 H000700 0.0
062 I000700 0.0
062 J000700 0.0
062 K000700 0.0
062 L000700 0.0
062 M000700 0.0
062 N000700 0.0
062 O000700 0.0
062 P000700 0.0
062 Q000700 0.0
062 R000700 0.0
063 A000700 0
063 B000700 0.0
066 A000700 Y
066 B000700 N
066 C000700 Y
066 D000700 N
066 E000700 N
066 F000700 N
066 G000700 N
071 A000700 4194
<PAGE> PAGE 21
071 B000700 2704
071 C000700 7174
071 D000700 38
072 A000700 6
072 B000700 0
072 C000700 50
072 D000700 0
072 E000700 0
072 F000700 29
072 G000700 21
072 H000700 0
072 I000700 17
072 J000700 25
072 K000700 0
072 L000700 2
072 M000700 0
072 N000700 7
072 O000700 0
072 P000700 0
072 Q000700 0
072 R000700 7
072 S000700 1
072 T000700 0
072 U000700 6
072 V000700 0
072 W000700 2
072 X000700 117
072 Y000700 63
072 Z000700 -4
072AA000700 53
072BB000700 0
072CC010700 428
072CC020700 0
072DD010700 2
072DD020700 0
072EE000700 161
073 A010700 0.0025
073 A020700 0.0000
073 B000700 0.2025
073 C000700 0.0000
074 A000700 166
074 B000700 0
074 C000700 0
074 D000700 0
074 E000700 0
074 F000700 8071
074 G000700 0
074 H000700 0
074 I000700 0
074 J000700 0
074 K000700 7
<PAGE> PAGE 22
074 L000700 44
074 M000700 41
074 N000700 8329
074 O000700 122
074 P000700 3
074 Q000700 0
074 R010700 0
074 R020700 0
074 R030700 0
074 R040700 35
074 S000700 0
074 T000700 8169
074 U010700 816
074 U020700 0
074 V010700 10.02
074 V020700 0.00
074 W000700 0.0000
074 X000700 1806
074 Y000700 0
075 A000700 0
075 B000700 7722
076 000700 0.00
SIGNATURE RICHARD PETEKA
TITLE ASST TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<RESTATED>
<CIK> 0000924628
<NAME> THE SARATOGA ADVANTAGE TRUST
<SERIES>
<NUMBER> 1
<NAME> US GOVERNMENT MONEY MARKET PORTFOLIO
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 27,228,544
<INVESTMENTS-AT-VALUE> 27,228,544
<RECEIVABLES> 96,843
<ASSETS-OTHER> 57,094
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 27,382,481
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 79,815
<TOTAL-LIABILITIES> 79,815
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 27,302,761
<SHARES-COMMON-PRIOR> 22,906,332
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (95)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 27,302,666
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 637,256
<OTHER-INCOME> 0
<EXPENSES-NET> 133,783
<NET-INVESTMENT-INCOME> 503,473
<REALIZED-GAINS-CURRENT> (63)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 503,410
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (503,473)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 13,889,570
<NUMBER-OF-SHARES-REDEEMED> (9,992,043)
<SHARES-REINVESTED> 498,902
<NET-CHANGE-IN-ASSETS> 4,396,366
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (32)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 56,486
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 170,604
<AVERAGE-NET-ASSETS> 23,980,752
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> .021
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.021)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 1.13
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<RESTATED>
<CIK> 0000924628
<NAME> THE SARATOGA ADVANTAGE TRUST
<SERIES>
<NUMBER> 7
<NAME> INTERNATIONAL EQUITY PORTFOLIO
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 7,690,173
<INVESTMENTS-AT-VALUE> 8,070,683
<RECEIVABLES> 50,481
<ASSETS-OTHER> 208,276
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 8,329,440
<PAYABLE-FOR-SECURITIES> 121,614
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 38,616
<TOTAL-LIABILITIES> 160,230
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 7,024,256
<SHARES-COMMON-STOCK> 815,609
<SHARES-COMMON-PRIOR> 714,966
<ACCUMULATED-NII-CURRENT> 5,583
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (56,748)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 380,510
<NET-ASSETS> 8,169,210
<DIVIDEND-INCOME> 49,569
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 53,611
<NET-INVESTMENT-INCOME> (4,042)
<REALIZED-GAINS-CURRENT> 52,571
<APPREC-INCREASE-CURRENT> 427,983
<NET-CHANGE-FROM-OPS> 476,512
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,987)
<DISTRIBUTIONS-OF-GAINS> (165)
<DISTRIBUTIONS-OTHER> (160,803)
<NUMBER-OF-SHARES-SOLD> 210,269
<NUMBER-OF-SHARES-REDEEMED> (125,521)
<SHARES-REINVESTED> 15,895
<NET-CHANGE-IN-ASSETS> 1,312,272
<ACCUMULATED-NII-PRIOR> 11,612
<ACCUMULATED-GAINS-PRIOR> 51,649
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 28,720
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 116,457
<AVERAGE-NET-ASSETS> 7,722,175
<PER-SHARE-NAV-BEGIN> 9.59
<PER-SHARE-NII> (0.01)
<PER-SHARE-GAIN-APPREC> .64
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (0.20)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.02
<EXPENSE-RATIO> 1.65
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<RESTATED>
<CIK> 0000924628
<NAME> THE SARATOGA ADVANTAGE TRUST
<SERIES>
<NUMBER> 2
<NAME> INVESTMENT QUALITY BOND PORTFOLIO
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 20,515,281
<INVESTMENTS-AT-VALUE> 20,453,650
<RECEIVABLES> 402,256
<ASSETS-OTHER> 507,003
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 21,362,909
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 53,995
<TOTAL-LIABILITIES> 53,995
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 19,247,682
<SHARES-COMMON-STOCK> 2,125,408
<SHARES-COMMON-PRIOR> 1,701,884
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (2,545)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (61,631)
<NET-ASSETS> 21,308,914
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 576,702
<OTHER-INCOME> 0
<EXPENSES-NET> 112,772
<NET-INVESTMENT-INCOME> 463,930
<REALIZED-GAINS-CURRENT> 3,751
<APPREC-INCREASE-CURRENT> 205,017
<NET-CHANGE-FROM-OPS> 672,698
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (463,930)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> (20,777)
<NUMBER-OF-SHARES-SOLD> 718,691
<NUMBER-OF-SHARES-REDEEMED> (342,112)
<SHARES-REINVESTED> 46,945
<NET-CHANGE-IN-ASSETS> 4,444,865
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 14,481
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 51,687
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 149,988
<AVERAGE-NET-ASSETS> 18,951,090
<PER-SHARE-NAV-BEGIN> 9.91
<PER-SHARE-NII> .25
<PER-SHARE-GAIN-APPREC> .13
<PER-SHARE-DIVIDEND> (0.25)
<PER-SHARE-DISTRIBUTIONS> (0.01)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.03
<EXPENSE-RATIO> 1.29
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<RESTATED>
<CIK> 0000924628
<NAME> THE SARATOGA ADVANTAGE TRUST
<SERIES>
<NUMBER> 5
<NAME> LARGE CAPITALIZATION GROWTH PORTFOLIO
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 31,541,975
<INVESTMENTS-AT-VALUE> 38,795,975
<RECEIVABLES> 143,046
<ASSETS-OTHER> 337,284
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 39,276,305
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 103,883
<TOTAL-LIABILITIES> 103,883
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 28,371,064
<SHARES-COMMON-STOCK> 2,499,239
<SHARES-COMMON-PRIOR> 2,581,231
<ACCUMULATED-NII-CURRENT> (42,448)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,090,567
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 7,254,000
<NET-ASSETS> 39,172,422
<DIVIDEND-INCOME> 210,899
<INTEREST-INCOME> 32,857
<OTHER-INCOME> 0
<EXPENSES-NET> 255,192
<NET-INVESTMENT-INCOME> (11,436)
<REALIZED-GAINS-CURRENT> 2,049,130
<APPREC-INCREASE-CURRENT> 4,811,542
<NET-CHANGE-FROM-OPS> 6,849,236
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 688,622
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> (770,614)
<NET-CHANGE-IN-ASSETS> 5,210,226
<ACCUMULATED-NII-PRIOR> (31,012)
<ACCUMULATED-GAINS-PRIOR> (958,563)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 128,525
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 267,822
<AVERAGE-NET-ASSETS> 39,873,914
<PER-SHARE-NAV-BEGIN> 13.16
<PER-SHARE-NII> (0.00)
<PER-SHARE-GAIN-APPREC> 2.51
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.67
<EXPENSE-RATIO> 1.35
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<RESTATED>
<CIK> 0000924628
<NAME> THE SARATOGA ADVANTAGE TRUST
<SERIES>
<NUMBER> 4
<NAME> LARGE CAPITALIZATION VALUE PORTFOLIO
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 20,213,979
<INVESTMENTS-AT-VALUE> 24,720,267
<RECEIVABLES> 90,201
<ASSETS-OTHER> 101,443
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 24,911,911
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 80,581
<TOTAL-LIABILITIES> 80,581
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 18,505,794
<SHARES-COMMON-STOCK> 1,528,251
<SHARES-COMMON-PRIOR> 1,264,513
<ACCUMULATED-NII-CURRENT> 22,840
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 268,157
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 4,506,288
<NET-ASSETS> 24,831,330
<DIVIDEND-INCOME> 140,219
<INTEREST-INCOME> 73,577
<OTHER-INCOME> 0
<EXPENSES-NET> 145,298
<NET-INVESTMENT-INCOME> 68,498
<REALIZED-GAINS-CURRENT> 341,395
<APPREC-INCREASE-CURRENT> 2,581,405
<NET-CHANGE-FROM-OPS> 2,991,298
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (127,646)
<DISTRIBUTIONS-OF-GAINS> (390,834)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 462,871
<NUMBER-OF-SHARES-REDEEMED> (231,774)
<SHARES-REINVESTED> 32,641
<NET-CHANGE-IN-ASSETS> 6,556,871
<ACCUMULATED-NII-PRIOR> 81,988
<ACCUMULATED-GAINS-PRIOR> 317,596
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 72,649
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 187,460
<AVERAGE-NET-ASSETS> 22,538,788
<PER-SHARE-NAV-BEGIN> 14.45
<PER-SHARE-NII> .03
<PER-SHARE-GAIN-APPREC> 2.11
<PER-SHARE-DIVIDEND> (0.08)
<PER-SHARE-DISTRIBUTIONS> (0.26)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 16.25
<EXPENSE-RATIO> 1.31
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<RESTATED>
<CIK> 0000924628
<NAME> THE SARATOGA ADVANTAGE TRUST
<SERIES>
<NUMBER> 3
<NAME> MUNICIPAL BOND PORTFOLIO
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 6,468,232
<INVESTMENTS-AT-VALUE> 6,572,922
<RECEIVABLES> 137,647
<ASSETS-OTHER> 46,703
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 6,757,272
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 33,300
<TOTAL-LIABILITIES> 33,300
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 5,967,279
<SHARES-COMMON-STOCK> 659,266
<SHARES-COMMON-PRIOR> 470,817
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (7,263)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 104,690
<NET-ASSETS> 6,723,972
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 149,292
<OTHER-INCOME> 0
<EXPENSES-NET> (33,430)
<NET-INVESTMENT-INCOME> 115,862
<REALIZED-GAINS-CURRENT> 4,562
<APPREC-INCREASE-CURRENT> 102,042
<NET-CHANGE-FROM-OPS> 222,466
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (115,862)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 273,451
<NUMBER-OF-SHARES-REDEEMED> (96,213)
<SHARES-REINVESTED> 11,212
<NET-CHANGE-IN-ASSETS> 2,016,224
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (11,825)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 15,322
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 94,613
<AVERAGE-NET-ASSETS> 5,617,867
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> .21
<PER-SHARE-GAIN-APPREC> .20
<PER-SHARE-DIVIDEND> (.21)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.20
<EXPENSE-RATIO> 1.23
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<RESTATED>
<CIK> 0000924628
<NAME> THE SARATOGA ADVANTAGE TRUST
<SERIES>
<NUMBER> 6
<NAME> SMALL CAPITALIZATION PORTFOLIO
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 20,865,910
<INVESTMENTS-AT-VALUE> 21,105,391
<RECEIVABLES> 418,348
<ASSETS-OTHER> 42,642
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 21,566,381
<PAYABLE-FOR-SECURITIES> 298,145
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 55,666
<TOTAL-LIABILITIES> 353,811
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 18,645,706
<SHARES-COMMON-STOCK> 1,833,825
<SHARES-COMMON-PRIOR> 1,625,699
<ACCUMULATED-NII-CURRENT> (266,422)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 760,000
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 239,481
<NET-ASSETS> 21,212,570
<DIVIDEND-INCOME> 12,975
<INTEREST-INCOME> 19,267
<OTHER-INCOME> 0
<EXPENSES-NET> (147,198)
<NET-INVESTMENT-INCOME> (114,956)
<REALIZED-GAINS-CURRENT> 1,702,238
<APPREC-INCREASE-CURRENT> (3,754,006)
<NET-CHANGE-FROM-OPS> (2,166,724)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (1,384,063)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 303,951
<NUMBER-OF-SHARES-REDEEMED> (203,692)
<SHARES-REINVESTED> 107,867
<NET-CHANGE-IN-ASSETS> (858,806)
<ACCUMULATED-NII-PRIOR> (151,486)
<ACCUMULATED-GAINS-PRIOR> 441,825
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 73,599
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 193,203
<AVERAGE-NET-ASSETS> 22,833,468
<PER-SHARE-NAV-BEGIN> 13.58
<PER-SHARE-NII> (.05)
<PER-SHARE-GAIN-APPREC> (1.13)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.83)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.57
<EXPENSE-RATIO> 1.30
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
