<PAGE> PAGE 1
000 B000000 10/31/98
000 C000000 0000934882
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 REPUBLIC PORTFOLIOS
001 B000000 811-8928
001 C000000 6144708000
002 A000000 3435 STELZER ROAD
002 B000000 COLUMBUS
002 C000000 OH
002 D010000 43210
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 3
007 C010100 1
007 C020100 REPUBLIC FIXED INCOME PORTFOLIO
007 C030100 N
007 C010200 2
007 C020200 REPUBLIC INTERNATIONAL EQUITY PORTFOLIO
007 C030200 N
007 C010300 3
007 C020300 REPUBLIC SMALL CAP EQUITY PORTFOLIO
007 C030300 N
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
<PAGE> PAGE 2
007 C012400 24
007 C012500 25
007 C012600 26
007 C012700 27
007 C012800 28
007 C012900 29
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
010 A00AA01 BISYS FUND SERVICES INC.
010 C01AA01 COLUMBUS
010 C02AA01 OH
010 C03AA01 43219
011 A00AA01 BISYS FUND SERVICES
011 B00AA01 8-00000
011 C01AA01 COLUMBUS
011 C02AA01 OH
011 C03AA01 43219
012 A00AA01 REPUBLIC NATIONAL BANK OF NEW YORK
012 B00AA01 84-00000
012 C01AA01 NEW YORK
012 C02AA01 NY
012 C03AA01 10018
013 A00AA01 KPMG PEAT MARWICK LLP
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02110
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 3
019 C00AA00 REPUBLICPO
020 A000001 MERRILL LYNCH PIERCE FENNER & SMITH INC
020 B000001 000161
<PAGE> PAGE 3
020 C000001 39
020 A000002 WEEDEN & CO.
020 B000002 009883
020 C000002 30
020 A000003 BANQUE PARIS
020 B000003 900084
020 C000003 38
020 A000004 ISTINET
020 B000004 000067
020 C000004 25
020 A000005 SMITH BARNEY & CO.
020 B000005 000418
020 C000005 20
020 A000006 GOLDMAN SACHS & CO.
020 B000006 000005
020 C000006 19
020 A000007 MORGAN STANLEY & CO. INC.
020 B000007 000050
020 C000007 17
020 A000008 DEUTSCHE BANK
020 B000008 000498
020 C000008 16
020 A000009 MERITA BANK
020 B000009 999868
020 C000009 13
020 A000010 CITIBANK
020 B000010 000953
020 C000010 12
021 000000 538
022 A000001 HSBC SECURITIES, INC.
022 B000001 000486
022 C000001 585655
022 D000001 4393
022 A000002 GOLDMAN SACHS & CO
022 B000002 000005
022 C000002 265938
022 D000002 214761
022 A000003 DREYFUS SERVICE CORPORATION
022 B000003 996736
022 C000003 138141
022 D000003 139577
022 A000004 PRUDENTIAL SECURITIES INC.
022 B000004 000030
022 C000004 164640
022 D000004 17414
022 A000005 NATIONSBANK CAPITAL MARKETS INC.
022 B000005 008878
022 C000005 185657
022 D000005 1697
022 A000006 DLJ FIXED INCOME
022 B000006 081419
<PAGE> PAGE 4
022 C000006 87872
022 D000006 90432
022 A000007 SALOMON BROTHERS INC.
022 B000007 000274
022 C000007 89021
022 D000007 60632
022 A000008 BEAR STEARNS & CO. INC
022 B000008 000352
022 C000008 73835
022 D000008 55750
022 A000009 FIRST BOSTON
022 B000009 000355
022 C000009 103117
022 D000009 5200
022 A000010 BANK OF AMERICA LA
022 B000010 997242
022 C000010 77524
022 D000010 21082
023 C000000 4992797
023 D000000 1032004
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 Y
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 N
042 A00AA00 0
042 B00AA00 0
042 C00AA00 0
042 D00AA00 0
042 E00AA00 0
042 F00AA00 0
<PAGE> PAGE 5
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 N
054 A00AA00 N
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 N
054 I00AA00 N
054 J00AA00 N
054 K00AA00 N
054 L00AA00 N
054 M00AA00 N
054 N00AA00 N
054 O00AA00 N
055 A00AA00 N
055 B00AA00 N
056 00AA00 Y
057 00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 0
070 A01AA00 Y
070 A02AA00 N
070 B01AA00 Y
070 B02AA00 N
070 C01AA00 Y
070 C02AA00 Y
070 D01AA00 Y
070 D02AA00 N
070 E01AA00 Y
070 E02AA00 N
070 F01AA00 Y
070 F02AA00 N
070 G01AA00 Y
070 G02AA00 N
070 H01AA00 Y
070 H02AA00 N
070 I01AA00 Y
070 I02AA00 N
<PAGE> PAGE 6
070 J01AA00 Y
070 J02AA00 N
070 K01AA00 Y
070 K02AA00 Y
070 L01AA00 Y
070 L02AA00 Y
070 M01AA00 Y
070 M02AA00 Y
070 N01AA00 Y
070 N02AA00 N
070 O01AA00 N
070 O02AA00 N
070 P01AA00 N
070 P02AA00 N
070 Q01AA00 N
070 Q02AA00 N
070 R01AA00 N
070 R02AA00 N
077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
080 A00AA00 GULF INSURANCE COMPANY
080 C00AA00 2775
081 A00AA00 Y
081 B00AA00 14
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
<PAGE> PAGE 7
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
008 A000101 REPUBLIC NATIONAL BANK OF NEW YORK
008 B000101 A
008 C000101 801-000000
008 D010101 NEW YORK
008 D020101 NY
008 D030101 10018
008 A000102 MILLER ANDERSON & SHERRERD
008 B000102 S
008 C000102 801-0000
008 D010102 WEST CONSHOHOCKEN
008 D020102 PA
008 D030102 19428
015 A000101 INVESTORS BANK & TRUST COMPANY
015 B000101 C
015 C010101 BOSTON
015 C020101 MA
015 C030101 02111
015 E040101 X
024 000100 N
025 A000101 DELETE
025 D000101 0
025 A000102 DELETE
025 D000102 0
025 D000103 0
025 D000104 0
025 D000105 0
025 D000106 0
025 D000107 0
025 D000108 0
028 A010100 2678
028 A020100 0
028 A030100 0
028 A040100 703
028 B010100 22586
028 B020100 0
028 B030100 0
028 B040100 695
028 C010100 5684
028 C020100 0
028 C030100 0
<PAGE> PAGE 8
028 C040100 2014
028 D010100 3306
028 D020100 0
028 D030100 0
028 D040100 558
028 E010100 2136
028 E020100 0
028 E030100 0
028 E040100 3078
028 F010100 7709
028 F020100 0
028 F030100 0
028 F040100 2699
028 G010100 44099
028 G020100 0
028 G030100 0
028 G040100 9747
028 H000100 0
045 000100 Y
046 000100 N
047 000100 N
048 000100 0.000
048 A010100 0
048 A020100 0.000
048 B010100 0
048 B020100 0.000
048 C010100 0
048 C020100 0.000
048 D010100 0
048 D020100 0.000
048 E010100 0
048 E020100 0.000
048 F010100 0
048 F020100 0.000
048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 0
048 K020100 0.000
062 A000100 Y
062 B000100 0.0
062 C000100 12.7
062 D000100 0.0
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
<PAGE> PAGE 9
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 31.8
062 M000100 8.6
062 N000100 74.0
062 O000100 0.0
062 P000100 43.4
062 Q000100 0.0
062 R000100 0.0
063 A000100 0
063 B000100 22.3
064 A000100 N
064 B000100 N
066 A000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
071 A000100 666523
071 B000100 568759
071 C000100 150087
071 D000100 379
072 A000100 12
072 B000100 9540
072 C000100 110
072 D000100 0
072 E000100 0
072 F000100 639
072 G000100 72
072 H000100 0
072 I000100 0
072 J000100 63
072 K000100 0
072 L000100 0
072 M000100 2
072 N000100 0
072 O000100 0
072 P000100 0
072 Q000100 40
072 R000100 18
072 S000100 23
072 T000100 0
072 U000100 13
072 V000100 0
072 W000100 29
072 X000100 899
072 Y000100 0
072 Z000100 8751
072AA000100 4451
<PAGE> PAGE 10
072BB000100 0
072CC010100 0
072CC020100 4438
072DD010100 0
072DD020100 0
072EE000100 0
073 A010100 0.0000
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 A000100 0
074 B000100 0
074 C000100 0
074 D000100 0
074 E000100 240130
074 F000100 0
074 G000100 0
074 H000100 0
074 I000100 9991
074 J000100 81994
074 K000100 0
074 L000100 1652
074 M000100 17
074 N000100 333784
074 O000100 158957
074 P000100 1704
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 50
074 S000100 0
074 T000100 173073
074 U010100 149869
074 U020100 0
074 V010100 1.15
074 V020100 0.00
074 W000100 0.0000
074 X000100 3
074 Y000100 0
075 A000100 0
075 B000100 145080
076 000100 0.00
008 A000201 REPUBLIC NATIONAL BANK OF NEW YORK
008 B000201 A
008 C000201 801-00000
008 D010201 NEW YORK
008 D020201 NY
008 D030201 10018
008 A000202 CAPITAL GUARDIAN TRUST COMPANY
008 B000202 S
<PAGE> PAGE 11
008 C000202 801-000
008 D010202 LOS ANGELES
008 D020202 CA
008 D030202 90025
015 A000201 REPUBLIC NATIONAL BANK OF NEW YORK
015 B000201 C
015 C010201 NEW YORK
015 C020201 NY
015 C030201 10018
015 E030201 X
024 000200 N
025 A000201 DELETE
025 D000201 0
025 D000202 0
025 D000203 0
025 D000204 0
025 D000205 0
025 D000206 0
025 D000207 0
025 D000208 0
028 A010200 2952
028 A020200 0
028 A030200 0
028 A040200 3563
028 B010200 15344
028 B020200 0
028 B030200 0
028 B040200 8045
028 C010200 6183
028 C020200 0
028 C030200 0
028 C040200 1883
028 D010200 4436
028 D020200 0
028 D030200 0
028 D040200 4458
028 E010200 3922
028 E020200 0
028 E030200 0
028 E040200 13859
028 F010200 3140
028 F020200 0
028 F030200 0
028 F040200 15677
028 G010200 35977
028 G020200 0
028 G030200 0
028 G040200 47485
028 H000200 0
045 000200 Y
046 000200 N
<PAGE> PAGE 12
047 000200 Y
048 000200 0.000
048 A010200 25000
048 A020200 0.700
048 B010200 25000
048 B020200 0.550
048 C010200 200000
048 C020200 0.425
048 D010200 0
048 D020200 0.000
048 E010200 0
048 E020200 0.000
048 F010200 0
048 F020200 0.000
048 G010200 0
048 G020200 0.000
048 H010200 0
048 H020200 0.000
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 250000
048 K020200 0.375
062 A000200 N
062 B000200 0.0
062 C000200 0.0
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 0.0
062 N000200 0.0
062 O000200 0.0
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
063 A000200 0
063 B000200 0.0
066 A000200 Y
066 B000200 N
066 C000200 N
066 D000200 N
066 E000200 Y
066 F000200 N
066 G000200 N
<PAGE> PAGE 13
067 000200 N
068 A000200 N
068 B000200 Y
069 000200 N
071 A000200 86919
071 B000200 112288
071 C000200 214798
071 D000200 40
072 A000200 12
072 B000200 475
072 C000200 3533
072 D000200 0
072 E000200 0
072 F000200 1620
072 G000200 112
072 H000200 0
072 I000200 0
072 J000200 283
072 K000200 0
072 L000200 0
072 M000200 4
072 N000200 0
072 O000200 0
072 P000200 0
072 Q000200 50
072 R000200 18
072 S000200 46
072 T000200 0
072 U000200 14
072 V000200 0
072 W000200 51
072 X000200 2198
072 Y000200 0
072 Z000200 1809
072AA000200 6875
072BB000200 0
072CC010200 0
072CC020200 4090
072DD010200 0
072DD020200 0
072EE000200 0
073 A010200 0.0000
073 A020200 0.0000
073 B000200 0.0000
073 C000200 0.0000
074 A000200 0
074 B000200 0
074 C000200 0
074 D000200 176
074 E000200 1222
074 F000200 199222
<PAGE> PAGE 14
074 G000200 0
074 H000200 0
074 I000200 7391
074 J000200 1174
074 K000200 0
074 L000200 532
074 M000200 1166
074 N000200 210883
074 O000200 629
074 P000200 883
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 3634
074 S000200 0
074 T000200 205737
074 U010200 163984
074 U020200 0
074 V010200 1.25
074 V020200 0.00
074 W000200 0.0000
074 X000200 3
074 Y000200 0
075 A000200 0
075 B000200 225537
076 000200 0.00
008 A000301 REPUBLIC NATIONAL BANK OF NEW YORK
008 B000301 A
008 C000301 801-00000
008 D010301 NEW YORK
008 D020301 NY
008 D030301 10018
008 A000302 MFS INSTITUTIONAL ADVISORS, INC.
008 B000302 S
008 C000302 801-000000
008 D010302 BOSTON
008 D020302 MA
008 D030302 02116
015 A000301 INVESTORS BANK AND TRUST COMPANY
015 B000301 C
015 C010301 BOSTON
015 C020301 MA
015 C030301 02111
015 E030301 X
024 000300 N
025 D000301 0
025 D000302 0
025 D000303 0
025 D000304 0
025 D000305 0
<PAGE> PAGE 15
025 D000306 0
025 D000307 0
025 D000308 0
028 A010300 2069
028 A020300 0
028 A030300 0
028 A040300 5217
028 B010300 10083
028 B020300 0
028 B030300 0
028 B040300 5563
028 C010300 5760
028 C020300 0
028 C030300 0
028 C040300 3412
028 D010300 3246
028 D020300 0
028 D030300 0
028 D040300 3557
028 E010300 2190
028 E020300 0
028 E030300 0
028 E040300 6330
028 F010300 2377
028 F020300 0
028 F030300 0
028 F040300 11271
028 G010300 25725
028 G020300 0
028 G030300 0
028 G040300 35350
028 H000300 0
045 000300 Y
046 000300 N
047 000300 Y
048 000300 0.000
048 A010300 50000
048 A020300 0.750
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 16
048 H020300 0.000
048 I010300 0
048 I020300 0.000
048 J010300 0
048 J020300 0.000
048 K010300 50000
048 K020300 0.600
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
063 A000300 0
063 B000300 0.0
066 A000300 Y
066 B000300 N
066 C000300 N
066 D000300 Y
066 E000300 N
066 F000300 N
066 G000300 N
067 000300 N
068 A000300 N
068 B000300 N
069 000300 N
071 A000300 134466
071 B000300 162143
071 C000300 208007
071 D000300 65
072 A000300 12
072 B000300 684
072 C000300 288
072 D000300 0
072 E000300 0
072 F000300 1865
072 G000300 106
072 H000300 0
072 I000300 0
<PAGE> PAGE 17
072 J000300 134
072 K000300 0
072 L000300 0
072 M000300 4
072 N000300 0
072 O000300 0
072 P000300 0
072 Q000300 40
072 R000300 18
072 S000300 42
072 T000300 0
072 U000300 8
072 V000300 0
072 W000300 35
072 X000300 2252
072 Y000300 59
072 Z000300 -1221
072AA000300 23431
072BB000300 0
072CC010300 0
072CC020300 33591
072DD010300 0
072DD020300 0
072EE000300 0
073 A010300 0.0000
073 A020300 0.0000
073 B000300 0.0000
073 C000300 0.0000
074 A000300 67
074 B000300 0
074 C000300 7697
074 D000300 0
074 E000300 0
074 F000300 178173
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 2423
074 K000300 0
074 L000300 5
074 M000300 23
074 N000300 188388
074 O000300 667
074 P000300 1143
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 61
074 S000300 0
074 T000300 186517
<PAGE> PAGE 18
074 U010300 151428
074 U020300 0
074 V010300 1.23
074 V020300 0.00
074 W000300 0.0000
074 X000300 3
074 Y000300 0
075 A000300 0
075 B000300 212793
076 000300 0.00
SIGNATURE DONAL O'NEILL
TITLE ANALYST
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000934882
<NAME> REPUBLIC PORTFOLIO TRUST
<SERIES>
<NUMBER> 01
<NAME> REPUBLIC FIXED INCOME PORTFOLIO
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-START> NOV-01-1997
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 252084279
<INVESTMENTS-AT-VALUE> 250121087
<RECEIVABLES> 83645944
<ASSETS-OTHER> 16504
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 333783535
<PAYABLE-FOR-SECURITIES> 158957093
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1753764
<TOTAL-LIABILITIES> 160710857
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 149869137
<SHARES-COMMON-STOCK> 149869137
<SHARES-COMMON-PRIOR> 118404948
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 173072678
<DIVIDEND-INCOME> 109981
<INTEREST-INCOME> 9540277
<OTHER-INCOME> 0
<EXPENSES-NET> 899186
<NET-INVESTMENT-INCOME> 8751072
<REALIZED-GAINS-CURRENT> 4450864
<APPREC-INCREASE-CURRENT> (4437928)
<NET-CHANGE-FROM-OPS> 8764008
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 73620339
<NUMBER-OF-SHARES-REDEEMED> 27716618
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 54667730
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 639127
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 899196
<AVERAGE-NET-ASSETS> 145080444
<PER-SHARE-NAV-BEGIN> 1
<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> 1
<EXPENSE-RATIO> .62
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000934882
<NAME> REPUBLIC PORTFOLIO TRUST
<SERIES>
<NUMBER> 02
<NAME> REPUBLIC INTERNATIONAL EQUITY PORTFOLIO
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-START> NOV-01-1998
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 189656793
<INVESTMENTS-AT-VALUE> 208011065
<RECEIVABLES> 1695897
<ASSETS-OTHER> 1166623
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 210883585
<PAYABLE-FOR-SECURITIES> 628706
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4517517
<TOTAL-LIABILITIES> 5146223
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 163983871
<SHARES-COMMON-STOCK> 163983871
<SHARES-COMMON-PRIOR> 207129075
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 205737362
<DIVIDEND-INCOME> 3532896
<INTEREST-INCOME> 474624
<OTHER-INCOME> 0
<EXPENSES-NET> 2198137
<NET-INVESTMENT-INCOME> 1809383
<REALIZED-GAINS-CURRENT> 6875073
<APPREC-INCREASE-CURRENT> (4090471)
<NET-CHANGE-FROM-OPS> 4593985
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 60542038
<NUMBER-OF-SHARES-REDEEMED> 66527738
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (1391713)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1619835
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2198137
<AVERAGE-NET-ASSETS> 225537
<PER-SHARE-NAV-BEGIN> 1
<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> 1
<EXPENSE-RATIO> .97
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000934882
<NAME> REPUBLIC PORTFOLIO TRUST
<SERIES>
<NUMBER> 03
<NAME> REPUBLIC SMALL CAP EQUITY PORTFOLIO
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-START> NOV-01-1997
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 191222651
<INVESTMENTS-AT-VALUE> 185870377
<RECEIVABLES> 2427466
<ASSETS-OTHER> 90912
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 188388755
<PAYABLE-FOR-SECURITIES> 667036
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1204325
<TOTAL-LIABILITIES> 1871361
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 151428491
<SHARES-COMMON-STOCK> 151248491
<SHARES-COMMON-PRIOR> 213739842
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 186517394
<DIVIDEND-INCOME> 288182
<INTEREST-INCOME> 684292
<OTHER-INCOME> 0
<EXPENSES-NET> 2193271
<NET-INVESTMENT-INCOME> 1220797
<REALIZED-GAINS-CURRENT> 23431405
<APPREC-INCREASE-CURRENT> (33590706)
<NET-CHANGE-FROM-OPS> 11380098
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 55600548
<NUMBER-OF-SHARES-REDEEMED> 71442897
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 27222448
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1864536
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2252396
<AVERAGE-NET-ASSETS> 212793
<PER-SHARE-NAV-BEGIN> 1
<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> 1
<EXPENSE-RATIO> 1.03
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
The Board of Trustees
Republic Portfolios
In planning and performing our audit of the financial statements of Republic
Fixed Income Portfolio,Republic International Equity Portfolio and Republic
Small Cap Equity Portfolio (Republic Portfolios), for the year ended October
31, 1998, we considered its internal control,including control activities for
safeguarding securities, in order to determine our auditing procedures for the
purpose of expressing our opinion on the financial statements and to comply
with the requirements of Form N-SAR, not to provide assurance on internal
control.
The management of Republic Portfolios is responsible for
establishing and maintaining internal control. In fulfilling this
responsibility, estimates and judgements by management are required to assess
the expected benefits and related costs of controls. Generally, controls that
are relevant to an audit pertain to the entitity's objective of preparing
financial statements for external purposes that are fairly presented in
conformity with generally accepted accounting principles. Those controls
include the safeguarding of assets against unauthorized acquisitions, use or
disposition.
Because of inherent limitations in internal control, errors or irregularities
may occur and not be detected. Also, projection of any evaluation of internal
control to future periods is subject to the risks that it may become inadequate
because of changes in conditions or that the effectiveness of the design and
operation may deteriorate.
Our consideration of the internal control would not necessarily disclose all
matters in the internal control that might be material weaknesses under
standards established by the American Institute of Certified Public
Accountants. A material weakness is a condition in which the design or
operation of one or more of the internal control components does not reduce
to a relatively low level the risk that errors or irregularities in amounts
that would be material in relation to the financial statements being audited
may occur and not be detected within a timely period by employees in the
normal course of performing their assigned functions. However, we noted no
matters involving the internal control and its operation, including controls
for safeguarding securities, that we consider to be material weaknesses as
defined above as of October 31, 1998.
This report is intended solely for the information and use of management, the
Board of Trustees of Republic Portfolios and the Securities and Exchange
Commission.
KPMG
Toronto, Ontario
December 23, 1998
