<PAGE> PAGE 1
000 B000000 12/31/1999
000 C000000 0001046068
000 D000000 N
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000 J000000 A
001 A000000 THE WESTPORT FUNDS
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008 B00AA01 A
008 C00AA01 801-54967
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008 D02AA01 CT
008 D03AA01 06880
010 A00AA01 COUNTRYWIDE FUND SERVICES, INC.
010 B00AA01 84-1093
010 C01AA01 CINCINNATI
010 C02AA01 OH
010 C03AA01 45202
010 C04AA01 4094
011 A00AA01 CW FUND DISTRIBUTORS, INC.
011 B00AA01 8-40907
011 C01AA01 CINCINNATI
<PAGE> PAGE 2
011 C02AA01 OH
011 C03AA01 45202
011 C04AA01 4094
012 A00AA01 COUNTRYWIDE FUND SERVICES, INC.
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013 A00AA01 TAIT, WELLER & BAKER
013 B01AA01 PHILADELPHIA
013 B02AA01 PA
013 B03AA01 19103
014 A00AA01 COUNTRYWIDE INVESTMENTS, INC.
014 B00AA01 8-24674
014 A00AA02 CW FUND DISTRIBUTORS, INC.
014 B00AA02 8-40907
014 A00AA03 CHARLES SCHWAB & CO., INC.
014 B00AA03 8-16514
015 A00AA01 FIRSTAR BANK, N.A.
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020 A000002 DONALDSON, LUFKIN & JENRETTE
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020 A000003 SCOTT & STINGFELLOW, INC.
020 B000003 54-0957557
020 C000003 21
020 A000004 BROWN (ALEX) & SONS, INC.
020 B000004 52-1319768
020 C000004 20
020 A000005 INSTINET
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020 C000005 17
020 A000006 C.L. KING & ASSOCIATES
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<PAGE> PAGE 3
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020 A000007 MORGAN STANLEY DEAN WITTER
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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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<PAGE> PAGE 11
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<PAGE> PAGE 12
070 E020200 N
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<PAGE> PAGE 14
SIGNATURE TINA D. HOSKING
TITLE ASSISTANT SECRETARY
REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
ON INTERNAL CONTROL STRUCTURE
The Board of Trustees
The Westport Funds
Westport, Connecticut
In planning and performing our audits of the financial statements of Westport
Fund and Westport Small Cap Fund (the "Funds"), each a series of shares of The
Westport Funds, for the period ended December 31, 1999, we considered their
internal control structure, including procedures 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 the internal control structure.
The management of the Funds is responsible for establishing and maintaining an
internal control structure. In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected benefits and related
costs of internal control structure policies and procedures. Two of the
objectives of an internal control structure are to provide management with
reasonable, but not absolute, assurance that assets are safeguarded against loss
from unauthorized use or disposition, and that transactions are executed in
accordance with management's authorization and recorded properly to permit
preparation of financial statements in conformity with generally accepted
accounting principles.
Because of inherent limitations in any internal control structure, errors or
irregularities may occur and not be detected. Also, projection of any evaluation
of the structure to future periods is subject to the risk 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 structure would not necessarily
disclose all matters in the internal control structure 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 the specific internal control structure elements 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 structure, including procedures for safeguarding
securities, that we consider to be material weaknesses, as defined above, as of
December 31, 1999.
This report is intended solely for the information and use of management and the
Securities and Exchange Commission, and should not be used for any other
purpose.
TAIT, WELLER & BAKER
Philadelphia, Pennsylvania
January 21, 2000
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<ARTICLE> 6
<CIK> 0001046068
<NAME> THE WESTPORT FUNDS
<SERIES>
<NUMBER> 1
<NAME> WESTPORT FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-2000
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 7,672,146
<INVESTMENTS-AT-VALUE> 10,094,928
<RECEIVABLES> 142,165
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 38,564
<TOTAL-ASSETS> 10,275,657
<PAYABLE-FOR-SECURITIES> 0
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<OTHER-ITEMS-LIABILITIES> 56,561
<TOTAL-LIABILITIES> 56,561
<SENIOR-EQUITY> 0
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<ACCUM-APPREC-OR-DEPREC> 2,422,782
<NET-ASSETS> 10,219,096
<DIVIDEND-INCOME> 50,052
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 109,409
<NET-INVESTMENT-INCOME> (59,357)
<REALIZED-GAINS-CURRENT> 1,061,005
<APPREC-INCREASE-CURRENT> 2,015,351
<NET-CHANGE-FROM-OPS> 3,016,999
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 979,933
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 238,552
<NUMBER-OF-SHARES-REDEEMED> (157,465)
<SHARES-REINVESTED> 67,996
<NET-CHANGE-IN-ASSETS> 4,120,196
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (29,217)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 65,665
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 202,910
<AVERAGE-NET-ASSETS> 7,305,238
<PER-SHARE-NAV-BEGIN> 11.22
<PER-SHARE-NII> (0.08)
<PER-SHARE-GAIN-APPREC> 5.21
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (1.60)
<RETURNS-OF-CAPITAL> 0
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<EXPENSE-RATIO> 1.50
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001046068
<NAME> THE WESTPORT FUNDS
<SERIES>
<NUMBER> 21
<NAME> WESTPORT SMALL CAP FUND - RETAIL SHARES
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-2000
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 223,514,286
<INVESTMENTS-AT-VALUE> 289,279,996
<RECEIVABLES> 922,243
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 45,643
<TOTAL-ASSETS> 290,247,882
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<OTHER-ITEMS-LIABILITIES> 372,704
<TOTAL-LIABILITIES> 4,890,076
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 219,963,989
<SHARES-COMMON-STOCK> 4,848,897
<SHARES-COMMON-PRIOR> 1,787,556
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (371,891)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 65,765,708
<NET-ASSETS> 79,851,194
<DIVIDEND-INCOME> 1,685,995
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 1,979,473
<NET-INVESTMENT-INCOME> (293,478)
<REALIZED-GAINS-CURRENT> (306,069)
<APPREC-INCREASE-CURRENT> 61,996,908
<NET-CHANGE-FROM-OPS> 61,397,361
<EQUALIZATION> 0
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<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,471,126
<NUMBER-OF-SHARES-REDEEMED> (1,409,785)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 59,214,227
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (65,822)
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<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,516,620
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,979,473
<AVERAGE-NET-ASSETS> 47,550,579
<PER-SHARE-NAV-BEGIN> 11.54
<PER-SHARE-NII> (0.03)
<PER-SHARE-GAIN-APPREC> 4.96
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 16.47
<EXPENSE-RATIO> 1.43
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001046068
<NAME> THE WESTPORT FUNDS
<SERIES>
<NUMBER> 22
<NAME> WESTPORT SMALL CAP FUND - INSTUTIONAL SHARES
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-2000
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 223,514,286
<INVESTMENTS-AT-VALUE> 289,279,996
<RECEIVABLES> 922,243
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 45,643
<TOTAL-ASSETS> 290,247,882
<PAYABLE-FOR-SECURITIES> 4,517,372
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<OTHER-ITEMS-LIABILITIES> 372,704
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<EXPENSE-RATIO> 1.24
</TABLE>
