<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000812015
<NAME> THE ALLIANCE PORTFOLIOS
<SERIES>
   <NUMBER> 034
   <NAME> STRATEGIC BALANCED FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUL-31-1997
<PERIOD-START>                             AUG-01-1996
<PERIOD-END>                               JAN-31-1997
<INVESTMENTS-AT-COST>                       46,951,546
<INVESTMENTS-AT-VALUE>                      50,903,577
<RECEIVABLES>                                1,390,589
<ASSETS-OTHER>                                 541,004
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              52,835,170
<PAYABLE-FOR-SECURITIES>                       887,662
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      197,867
<TOTAL-LIABILITIES>                          1,085,529
<SENIOR-EQUITY>                                     32
<PAID-IN-CAPITAL-COMMON>                    47,362,546
<SHARES-COMMON-STOCK>                                3
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                         (1,776)
<ACCUMULATED-NET-GAINS>                        470,145
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     3,918,694
<NET-ASSETS>                                51,749,641
<DIVIDEND-INCOME>                              136,035
<INTEREST-INCOME>                              817,519
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               (479,094)
<NET-INVESTMENT-INCOME>                        474,460
<REALIZED-GAINS-CURRENT>                       560,983
<APPREC-INCREASE-CURRENT>                    4,609,705
<NET-CHANGE-FROM-OPS>                        5,645,148
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          1,460
<NUMBER-OF-SHARES-REDEEMED>                    (1,457)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                       1,771,568
<ACCUMULATED-NII-PRIOR>                        395,373
<ACCUMULATED-GAINS-PRIOR>                    6,564,036
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          195,000
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                651,000
<AVERAGE-NET-ASSETS>                               896
<PER-SHARE-NAV-BEGIN>                            19.49
<PER-SHARE-NII>                                   4.14
<PER-SHARE-GAIN-APPREC>                         (5.76)
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              17.87
<EXPENSE-RATIO>                                   1.10
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>