<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000812015
<NAME> THE ALLIANCE PORTFOLIOS
<SERIES>
   <NUMBER> 042
   <NAME> GROWTH INVESTORS FUND
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          APR-30-1997
<PERIOD-START>                             MAY-01-1996
<PERIOD-END>                               APR-30-1997
<INVESTMENTS-AT-COST>                       85,520,757
<INVESTMENTS-AT-VALUE>                      94,241,034
<RECEIVABLES>                                1,807,067
<ASSETS-OTHER>                                 315,602
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              96,363,703
<PAYABLE-FOR-SECURITIES>                       684,178
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      484,320
<TOTAL-LIABILITIES>                          1,168,498
<SENIOR-EQUITY>                                     73
<PAID-IN-CAPITAL-COMMON>                    86,246,811
<SHARES-COMMON-STOCK>                        4,706,967
<SHARES-COMMON-PRIOR>                        4,261,102
<ACCUMULATED-NII-CURRENT>                      435,992
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (202,833)
<OVERDISTRIBUTION-GAINS>                             0
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<OTHER-INCOME>                                       0
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<APPREC-INCREASE-CURRENT>                    2,361,782
<NET-CHANGE-FROM-OPS>                        5,958,431
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (444,447)
<DISTRIBUTIONS-OF-GAINS>                   (7,140,766)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        772,493
<NUMBER-OF-SHARES-REDEEMED>                  (891,177)
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<NET-CHANGE-IN-ASSETS>                     (1,306,461)
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<OVERDISTRIB-NII-PRIOR>                              0
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<GROSS-ADVISORY-FEES>                          723,000
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              2,142,000
<AVERAGE-NET-ASSETS>                        61,325,491
<PER-SHARE-NAV-BEGIN>                            14.08
<PER-SHARE-NII>                                   0.06
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<PER-SHARE-DIVIDEND>                            (0.11)
<PER-SHARE-DISTRIBUTIONS>                       (1.69)
<RETURNS-OF-CAPITAL>                                 0
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<EXPENSE-RATIO>                                   2.26
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>