GROWTH PORTFOLIO/CA/
NSAR-A, 1997-08-28
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<PAGE>      PAGE  1
000 A000000 06/30/97
000 C000000 0000946278
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 GROWTH PORTFOLIO
001 B000000 811-7363
001 C000000 4153926181
002 A000000 50 CALIFORNIA STREET, 27TH FLOOR
002 B000000 SAN FRANCISCO
002 C000000 CA
002 D010000 94111
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  2
007 C010100  1
007 C020100 SMALL CAP GROWTH PORTFOLIO
007 C030100 N
007 C010200  2
007 C020200 VALUE PORTFOLIO
007 C030200 N
007 C010300  3
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 CHANCELLOR LGT ASSET MANAGEMENT, INC.
008 B00AA01 A
008 C00AA01 801-10254
008 D01AA01 SAN FRANCISCO
008 D02AA01 CA
008 D03AA01 94111
010 A00AA01 CHANCELLOR LGT ASSET MANAGEMENT, INC.
010 B00AA01 801-10254
010 C01AA01 SAN FRANCISCO
010 C02AA01 CA
010 C03AA01 94111
011 A00AA01 GT GLOBAL, INC.
011 B00AA01 8-37656
011 C01AA01 SAN FRANCISCO
011 C02AA01 CA
<PAGE>      PAGE  2
011 C03AA01 94111
012 A00AA01 GT GLOBAL INVESTOR SERVICES, INC.
012 B00AA01 84-1848
012 C01AA01 SAN FRANCISCO
012 C02AA01 CA
012 C03AA01 94111
013 A00AA01 COOPERS & LYBRAND L.L.P.
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02109
015 A00AA01 STATE STREET BANK AND TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02110
015 E01AA01 X
018  00AA00 Y
019 A00AA00 Y
019 B00AA00   46
019 C00AA00 GTGLOBALXX
020 A000001 GOLDMAN SACHS
020 C000001      4
020 A000002 NEWBERGER & BERMAN
020 C000002      4
020 A000003 INSTINET CORP.
020 C000003      4
020 A000004 ESI SECURITIES
020 C000004      4
020 A000005 DILLION READ SECURITIES
020 C000005      3
020 A000006 FIRST ANALYSIS
020 C000006      3
020 A000007 GERARD KLAUER MATTISON & CO
020 C000007      2
020 A000008 PAINE WEBBER
020 C000008      2
020 A000009 CHICAGO CORPORATION
020 C000009      2
020 A000010 ALEX BROWN
020 C000010      2
021  000000       53
022 A000001 STATE STREET BANK AND TRUST COMPANY
022 C000001    307962
022 D000001         0
022 A000002 ALEX BROWN
022 C000002      3289
022 D000002       464
022 A000003 GOLDMAN SACHS
022 C000003      1620
022 D000003       739
022 A000004 SMITH BARNEY
<PAGE>      PAGE  3
022 C000004       847
022 D000004      1251
022 A000005 MORGAN STANLEY
022 C000005      1194
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022 A000006 SALOMON BROTHERS
022 C000006      1180
022 D000006       520
022 A000007 MERRILL LYNCH
022 C000007      1315
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022 A000008 MONTGOMERY SECURITIES
022 C000008      1176
022 D000008       288
022 A000009 DONALD LUFKIN JENRETTE
022 C000009       826
022 D000009       412
022 A000010 ROBERTSON STEVENS & CO
022 C000010      1127
022 D000010        33
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<PAGE>      PAGE  4
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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<PAGE>      PAGE  8
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<PAGE>      PAGE  9
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<PAGE>      PAGE  10
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066 F000200 N
066 G000200 N
067  000200 N
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070 H020200 N
070 I010200 N
070 I020200 N
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<PAGE>      PAGE  11
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SIGNATURE   PAMELA RUDDOCK                               
TITLE       ASSISTANT TREASURER 
 


<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FUND'S
SEMI-ANNUAL FINANCIAL STATEMENTS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE
TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000946278
<NAME> GROWTH PORTFOLIO
<SERIES>
   <NUMBER> 01
   <NAME> SMALL CAP GROWTH PORTFOLIO
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                            19627
<INVESTMENTS-AT-VALUE>                           21100
<RECEIVABLES>                                      463
<ASSETS-OTHER>                                    1156
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   22719
<PAYABLE-FOR-SECURITIES>                           263
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                         1192
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<PAID-IN-CAPITAL-COMMON>                         20000
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<ACCUMULATED-NET-GAINS>                          (355)
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<NET-ASSETS>                                     21264
<DIVIDEND-INCOME>                                    9
<INTEREST-INCOME>                                   47
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                    (60)
<NET-INVESTMENT-INCOME>                            (4)
<REALIZED-GAINS-CURRENT>                        (1620)
<APPREC-INCREASE-CURRENT>                         2252
<NET-CHANGE-FROM-OPS>                              628
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
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<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FUND'S SEMIANNUAL FINANCIAL STATEMENTS AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000946278
<NAME> GROWTH PORTFOLIO
<SERIES>
   <NUMBER> 02
   <NAME> VALUE PORTFOLIO
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                            14297
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<PAYABLE-FOR-SECURITIES>                             0
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<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          11002
<NUMBER-OF-SHARES-REDEEMED>                     (4978)
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<GROSS-ADVISORY-FEES>                               27
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                     44
<AVERAGE-NET-ASSETS>                             11642
<PER-SHARE-NAV-BEGIN>                                0
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
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<EXPENSE-RATIO>                                   0.77
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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