<PAGE> PAGE 1
000 A000000 03/31/2000
000 C000000 0001066081
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 U
001 A000000 THE SHEPHERD STREET FUNDS, INC.
001 B000000 811-08883
001 C000000 8888754800
002 A000000 480 SHEPHERD STREET
002 B000000 WINSTON-SALEM
002 C000000 NC
002 D010000 27103
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 1
007 C010100 1
007 C020100 THE SHEPHERD STREET EQUITY FUND
007 C030100 N
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
020 A000001 LEHMAN BROTHERS
020 B000001 13-2518466
020 C000001 7
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 7
022 A000001 FIRST UNION BANK
022 C000001 3519
022 D000001 3405
022 A000002 LEHMAN BROTHERS
<PAGE> PAGE 2
022 B000002 13-2518466
022 C000002 837
022 D000002 805
022 A000003 MCDONALD AND COMPANY
022 B000003 34-0642435
022 C000003 84
022 D000003 0
022 A000004 DONALDSON LUFKIN JENRETTE
022 B000004 13-2741729
022 C000004 10
022 D000004 0
022 C000005 0
022 D000005 0
022 C000006 0
022 D000006 0
022 C000007 0
022 D000007 0
022 C000008 0
022 D000008 0
022 C000009 0
022 D000009 0
022 C000010 0
022 D000010 0
023 C000000 4450
023 D000000 4210
028 A01AA00 167
028 A02AA00 0
028 A03AA00 167
028 A04AA00 1
028 B01AA00 336
028 B02AA00 0
028 B03AA00 336
028 B04AA00 31
028 C01AA00 415
028 C02AA00 0
028 C03AA00 415
028 C04AA00 19
028 D01AA00 346
028 D02AA00 0
028 D03AA00 346
028 D04AA00 6
028 E01AA00 170
028 E02AA00 0
028 E03AA00 170
028 E04AA00 3
028 F01AA00 729
028 F02AA00 135
028 F03AA00 864
028 F04AA00 487
028 G01AA00 2163
028 G02AA00 135
<PAGE> PAGE 3
028 G03AA00 2298
028 G04AA00 547
028 H00AA00 0
042 A00AA00 0
042 B00AA00 0
042 C00AA00 0
042 D00AA00 0
042 E00AA00 0
042 F00AA00 0
042 G00AA00 100
042 H00AA00 0
043 00AA00 9
044 00AA00 0
062 A00AA00 N
062 B00AA00 0.0
062 C00AA00 0.0
062 D00AA00 0.0
062 E00AA00 0.0
062 F00AA00 0.0
062 G00AA00 0.0
062 H00AA00 0.0
062 I00AA00 0.0
062 J00AA00 0.0
062 K00AA00 0.0
062 L00AA00 0.0
062 M00AA00 0.0
062 N00AA00 0.0
062 O00AA00 0.0
062 P00AA00 0.0
062 Q00AA00 0.0
062 R00AA00 0.0
066 A00AA00 Y
066 B00AA00 N
066 C00AA00 N
066 D00AA00 Y
066 E00AA00 N
066 F00AA00 N
066 G00AA00 N
067 00AA00 N
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
071 A00AA00 4461
071 B00AA00 3046
071 C00AA00 6859
071 D00AA00 44
072 A00AA00 6
072 B00AA00 6
072 C00AA00 27
072 D00AA00 0
072 E00AA00 0
<PAGE> PAGE 4
072 F00AA00 14
072 G00AA00 0
072 H00AA00 0
072 I00AA00 0
072 J00AA00 0
072 K00AA00 0
072 L00AA00 0
072 M00AA00 0
072 N00AA00 0
072 O00AA00 0
072 P00AA00 0
072 Q00AA00 0
072 R00AA00 0
072 S00AA00 0
072 T00AA00 9
072 U00AA00 0
072 V00AA00 0
072 W00AA00 21
072 X00AA00 44
072 Y00AA00 0
072 Z00AA00 -11
072AA00AA00 47
072BB00AA00 0
072CC01AA00 1099
072CC02AA00 0
072DD01AA00 3
072DD02AA00 0
072EE00AA00 132
073 A01AA00 0.0100
073 A02AA00 0.0000
073 B00AA00 0.2400
073 C00AA00 0.0000
074 A00AA00 0
074 B00AA00 0
074 C00AA00 0
074 D00AA00 0
074 E00AA00 0
074 F00AA00 8122
074 G00AA00 0
074 H00AA00 0
074 I00AA00 258
074 J00AA00 0
074 K00AA00 0
074 L00AA00 115
074 M00AA00 0
074 N00AA00 8495
074 O00AA00 0
074 P00AA00 0
074 Q00AA00 0
074 R01AA00 0
074 R02AA00 0
<PAGE> PAGE 5
074 R03AA00 0
074 R04AA00 36
074 S00AA00 0
074 T00AA00 8459
074 U01AA00 570
074 U02AA00 0
074 V01AA00 14.83
074 V02AA00 0.00
074 W00AA00 0.0000
074 X00AA00 248
074 Y00AA00 0
075 A00AA00 0
075 B00AA00 7045
076 00AA00 0.00
077 A000000 N
SIGNATURE PAUL GIORGIO
TITLE SECRETARY
<TABLE> <S> <C>
<ARTICLE> 6
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-START> OCT-01-1999
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 7,134,164
<INVESTMENTS-AT-VALUE> 8,379,718
<RECEIVABLES> 115,272
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 8,494,990
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 36,327
<TOTAL-LIABILITIES> 36,327
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 7,176,681
<SHARES-COMMON-STOCK> 570,315
<SHARES-COMMON-PRIOR> 444,465
<ACCUMULATED-NII-CURRENT> (10,866)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 47,294
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,245,554
<NET-ASSETS> 8,458,663
<DIVIDEND-INCOME> 27,254
<INTEREST-INCOME> 5,821
<OTHER-INCOME> 0
<EXPENSES-NET> 43,941
<NET-INVESTMENT-INCOME> (10,866)
<REALIZED-GAINS-CURRENT> 47,294
<APPREC-INCREASE-CURRENT> 1,098,766
<NET-CHANGE-FROM-OPS> 1,135,294
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 3,156
<DISTRIBUTIONS-OF-GAINS> 131,866
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 154,227
<NUMBER-OF-SHARES-REDEEMED> 37,831
<SHARES-REINVESTED> 9,454
<NET-CHANGE-IN-ASSETS> 2,751,409
<ACCUMULATED-NII-PRIOR> 3,156
<ACCUMULATED-GAINS-PRIOR> 131,866
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 14,061
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 43,941
<AVERAGE-NET-ASSETS> 7,045,475
<PER-SHARE-NAV-BEGIN> 12.84
<PER-SHARE-NII> (0.01)
<PER-SHARE-GAIN-APPREC> 2.25
<PER-SHARE-DIVIDEND> 0.01
<PER-SHARE-DISTRIBUTIONS> 0.24
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 14.83
<EXPENSE-RATIO> 1.25
</TABLE>
