<PAGE> PAGE 1
000 A000000 11/30/98
000 C000000 943180
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 THE SERIES PORTFOLIO
001 B000000 811-9008
001 C000000 6175570700
002 A000000 ELIZABETHEAN SQUARE, 2ND FLR 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 Y
007 B000000 7
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C020500 THE DISCIPLINED EQUITY PORTFOLIO
007 C030500 N
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
<PAGE> PAGE 2
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
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
020 A000001 1. LEHMAN BROS., INC.
020 C000001 34
020 A000002 2. INVESTMENT TECHNOLOGY
020 C000002 28
020 A000003 3. MERRILL LYNCH
020 C000003 15
020 A000004 4. GOLDMAN SACHS
020 C000004 12
020 A000005 5. INSTINET
020 C000005 11
020 A000006 6. SMITH BARNEY, INC.
020 C000006 11
020 A000007 7. MORGAN STANLEY & CO.
020 C000007 7
020 A000008 8. SBC WARBURG, INC.
020 C000008 5
020 A000009 9. DONALDSON LUFKIN JENRET
020 C000009 5
<PAGE> PAGE 3
020 A000010 10.CS FIRST BOSTON
020 C000010 5
021 000000 179
022 A000001 1.LEHMAN BROS., INC.
022 C000001 11595
022 D000001 0
022 A000002 2.SMITH BARNEY, INC.
022 C000002 3706
022 D000002 769
022 A000003 3.INVESTMENT TECHNOLGY
022 C000003 4246
022 D000003 0
022 A000004 4.C.J.LAWRENCE/DEUTSCHE BANK
022 C000004 2838
022 D000004 0
022 A000005 5.GOLDMAN SACHS
022 C000005 1792
022 D000005 148
022 A000006 6.DEUTSCHE BANK
022 C000006 1650
022 D000006 0
022 A000007 7.BEAR STERNS
022 C000007 161
022 D000007 1061
022 A000008 8.TROSTER SINGER CORP.
022 C000008 904
022 D000008 87
022 A000009 9.MORGAN STANLEY & CO.
022 C000009 846
022 D000009 136
022 A000010 10.MERRILL LYNCH
022 C000010 837
022 D000010 4
023 C000000 31522
023 D000000 2205
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
077 A000000 N
078 000000 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
<PAGE> PAGE 4
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 A000501 MORGAN GUARANTY TRUST COMPANY OF NEW YORK
008 B000501 A
008 C000501 801-999999
008 D010501 NEW YORK
008 D020501 NY
008 D030501 10036
010 A000501 MORGAN GUARANTY TRUST COMPANY OF NEW YORK
010 B000501 8-4999999
010 C010501 NEW YORK
010 C020501 NY
010 C030501 10036
010 A000502 FUNDS DISTRIBUTOR, INC.
010 B000502 8-420518
010 C010502 BOSTON
010 C020502 MA
010 C030502 02116
010 A000503 PIERPONT GROUP, INC.
010 C010503 NEW YORK
010 C020503 NY
010 C030503 10017
011 A000501 FUNDS DISTRIBUTOR,INC.
011 B000501 8-420518
011 C010501 BOSTON
011 C020501 MA
011 C030501 02116
012 A000501 STATE STREET BANK AND TRUST COMPANY
012 B000501 85-50003
012 C010501 BOSTON
012 C020501 MA
012 C030501 02101
013 A000501 PRICEWATERHOUSECOOPERS LLP
013 B010501 NEW YORK
013 B020501 NY
013 B030501 10036
015 A000501 STATE STREET BANK AND TRUST COMPANY
015 B000501 C
015 C010501 BOSTON
015 C020501 MA
015 C030501 02101
015 E010501 X
018 000500 Y
019 A000500 Y
019 B000500 70
<PAGE> PAGE 5
019 C000500 JPM/PIERPO
024 000500 Y
025 A000501 MORGAN STANLEY,DEAN WITTER,DISCOVER & CO.
025 C000501 E
025 D000501 2874
025 A000502 BEAR STERNS COMPANIES, INC.
025 C000502 E
025 D000502 462
025 A000503 LEHMAN BROTHERS HOLDINGS, INC.
025 C000503 E
025 D000503 404
025 D000504 0
025 D000505 0
025 D000506 0
025 D000507 0
025 D000508 0
028 A010500 27306
028 A020500 0
028 A030500 0
028 A040500 4780
028 B010500 43224
028 B020500 0
028 B030500 0
028 B040500 2389
028 C010500 33269
028 C020500 0
028 C030500 0
028 C040500 6086
028 D010500 54136
028 D020500 0
028 D030500 0
028 D040500 11213
028 E010500 9360
028 E020500 0
028 E030500 0
028 E040500 8976
028 F010500 18579
028 F020500 0
028 F030500 0
028 F040500 1562
028 G010500 185874
028 G020500 0
028 G030500 0
028 G040500 35006
028 H000500 0
029 000500 N
030 A000500 0
030 B000500 0.00
030 C000500 0.00
031 A000500 0
031 B000500 0
<PAGE> PAGE 6
032 000500 0
033 000500 0
034 000500 N
035 000500 0
036 B000500 0
037 000500 N
038 000500 0
039 000500 N
040 000500 N
041 000500 N
042 A000500 0
042 B000500 0
042 C000500 0
042 D000500 0
042 E000500 0
042 F000500 0
042 G000500 0
042 H000500 0
043 000500 0
044 000500 0
045 000500 Y
046 000500 N
047 000500 Y
048 000500 0.350
048 A010500 0
048 A020500 0.000
048 B010500 0
048 B020500 0.000
048 C010500 0
048 C020500 0.000
048 D010500 0
048 D020500 0.000
048 E010500 0
048 E020500 0.000
048 F010500 0
048 F020500 0.000
048 G010500 0
048 G020500 0.000
048 H010500 0
048 H020500 0.000
048 I010500 0
048 I020500 0.000
048 J010500 0
048 J020500 0.000
048 K010500 0
048 K020500 0.000
049 000500 N
050 000500 N
051 000500 N
052 000500 N
053 A000500 Y
<PAGE> PAGE 7
053 B000500 Y
053 C000500 N
054 A000500 Y
054 B000500 N
054 C000500 N
054 D000500 N
054 E000500 N
054 F000500 N
054 G000500 N
054 H000500 N
054 I000500 N
054 J000500 Y
054 K000500 N
054 L000500 N
054 M000500 Y
054 N000500 N
054 O000500 N
055 A000500 N
055 B000500 N
056 000500 Y
057 000500 N
058 A000500 N
059 000500 Y
060 A000500 N
060 B000500 N
061 000500 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 G000500 Y
067 000500 N
068 A000500 N
068 B000500 N
<PAGE> PAGE 8
069 000500 N
070 A010500 Y
070 A020500 Y
070 B010500 Y
070 B020500 N
070 C010500 N
070 C020500 N
070 D010500 Y
070 D020500 N
070 E010500 N
070 E020500 N
070 F010500 Y
070 F020500 Y
070 G010500 Y
070 G020500 N
070 H010500 Y
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 Y
070 J020500 N
070 K010500 Y
070 K020500 N
070 L010500 Y
070 L020500 Y
070 M010500 N
070 M020500 N
070 N010500 Y
070 N020500 N
070 O010500 Y
070 O020500 N
070 P010500 N
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 N
070 R020500 N
071 A000500 250918
071 B000500 108389
071 C000500 385774
071 D000500 28
072 A000500 6
072 B000500 388
072 C000500 2820
072 D000500 0
072 E000500 0
072 F000500 704
072 G000500 66
072 H000500 0
072 I000500 0
072 J000500 83
<PAGE> PAGE 9
072 K000500 0
072 L000500 5
072 M000500 3
072 N000500 0
072 O000500 0
072 P000500 0
072 Q000500 0
072 R000500 19
072 S000500 3
072 T000500 0
072 U000500 1
072 V000500 0
072 W000500 1
072 X000500 885
072 Y000500 0
072 Z000500 2324
072AA000500 6693
072BB000500 0
072CC010500 29198
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 0
074 B000500 17058
074 C000500 1134
074 D000500 0
074 E000500 0
074 F000500 486063
074 G000500 0
074 H000500 0
074 I000500 0
074 J000500 1670
074 K000500 0
074 L000500 734
074 M000500 10
074 N000500 506669
074 O000500 2792
074 P000500 152
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
074 R040500 506
074 S000500 0
074 T000500 503219
074 U010500 0
<PAGE> PAGE 10
074 U020500 0
074 V010500 0.00
074 V020500 0.00
074 W000500 0.0000
074 X000500 0
074 Y000500 62356
075 A000500 0
075 B000500 401015
076 000500 0.00
080 C000500 0
081 A000500 N
081 B000500 0
082 A000500 N
082 B000500 0
083 A000500 N
083 B000500 0
084 A000500 N
084 B000500 0
085 A000500 Y
085 B000500 N
028 A011600 0
028 A021600 0
028 A031600 0
028 A041600 0
028 B011600 0
028 B021600 0
028 B031600 0
028 B041600 0
028 C011600 0
028 C021600 0
028 C031600 0
028 C041600 0
028 D011600 0
028 D021600 0
028 D031600 0
028 D041600 0
028 E011600 0
028 E021600 0
028 E031600 0
028 E041600 0
028 F011600 0
028 F021600 0
028 F031600 0
028 F041600 0
028 G011600 0
028 G021600 0
028 G031600 0
028 G041600 0
028 H001600 0
SIGNATURE RICHARD INGRAM
TITLE ASST TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial data extracted from the semi-annual
report dated November 30, 1998, for the J.P.Morgan Disciplined Equity Fund and
is qualified in its entirety by reference to such semi-annual report.
</LEGEND>
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAY-31-1998
<PERIOD-END> NOV-30-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 458054
<RECEIVABLES> 457
<ASSETS-OTHER> 11
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 458522
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 123
<TOTAL-LIABILITIES> 123
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 381107
<SHARES-COMMON-STOCK> 28425
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 1809
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 19256
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 56227
<NET-ASSETS> 458399
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 0
<OTHER-INCOME> 2137
<EXPENSES-NET> 19
<NET-INVESTMENT-INCOME> 2118
<REALIZED-GAINS-CURRENT> 8068
<APPREC-INCREASE-CURRENT> 25088
<NET-CHANGE-FROM-OPS> 0
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1087)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8625
<NUMBER-OF-SHARES-REDEEMED> (2102)
<SHARES-REINVESTED> 66
<NET-CHANGE-IN-ASSETS> 162208
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 306
<AVERAGE-NET-ASSETS> 401015
<PER-SHARE-NAV-BEGIN> 14.96
<PER-SHARE-NII> .07
<PER-SHARE-GAIN-APPREC> 1.15
<PER-SHARE-DIVIDEND> (0.05)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 16.13
<EXPENSE-RATIO> .45
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
