<PAGE> PAGE 1
000 A000000 12/31/1999
000 C000000 0001069527
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 VALUE TREND FUNDS
001 B000000 811-09041
001 C000000 8005900898
002 A000000 411 WEST MADISON AVENUE
002 B000000 EL CAJON
002 C000000 CA
002 D010000 92020
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 2
007 C010100 1
007 C020100 VALUE TREND LINKS FUND
007 C030100 N
007 C010200 2
007 C020200 VALUE TREND LARGE CAP FUND
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
007 C011100 11
007 C011200 12
007 C011300 13
007 C011400 14
007 C011500 15
007 C011600 16
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
008 A00AA01 VALUE TREND CAPITAL MGMT, LP
008 B00AA01 A
008 C00AA01 801-56657
008 D01AA01 EL CAJON
008 D02AA01 CA
<PAGE> PAGE 2
008 D03AA01 92020
010 A00AA01 MAXUS INFORMATION SYSTEMS INC
010 B00AA01 84-5621
010 C01AA01 CLEVELAND
010 C02AA01 OH
010 C03AA01 44114
012 A00AA01 MAXUS INFORMATION SYSTEMS INC
012 B00AA01 84-1594
012 C01AA01 CLEVELAND
012 C02AA01 OH
012 C03AA01 44114
013 A00AA01 MCCURDY & ASSOCIATES CPA'S INC
013 B01AA01 WESTLAKE
013 B02AA01 OH
013 B03AA01 44145
015 A00AA01 FIFTH THIRD BANK
015 B00AA01 C
015 C01AA01 CINCINNATI
015 C02AA01 OH
015 C03AA01 45263
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 2
019 C00AA00 VALUETREND
020 A000001 QUAKER
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<PAGE> PAGE 3
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050 00AA00 N
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<PAGE> PAGE 4
054 F00AA00 Y
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054 H00AA00 Y
054 I00AA00 Y
054 J00AA00 Y
054 K00AA00 Y
054 L00AA00 Y
054 M00AA00 Y
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<PAGE> PAGE 5
028 A030100 0
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<PAGE> PAGE 6
048 F010100 0
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<PAGE> PAGE 7
070 F010100 N
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070 H010100 N
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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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067 000200 N
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<PAGE> PAGE 11
070 K010200 Y
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<PAGE> PAGE 12
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SIGNATURE GREGORY B. GETTS
TITLE ADMINISTRATOR
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 1
<NAME> LINKS FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-2000
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 617,750
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<OTHER-ITEMS-LIABILITIES> 948
<TOTAL-LIABILITIES> 15,410
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 647,514
<SHARES-COMMON-STOCK> 60,137
<SHARES-COMMON-PRIOR> 5,000
<ACCUMULATED-NII-CURRENT> (2,838)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (20,849)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 261,361
<NET-ASSETS> 885,187
<DIVIDEND-INCOME> 735
<INTEREST-INCOME> 582
<OTHER-INCOME> 0
<EXPENSES-NET> 3,787
<NET-INVESTMENT-INCOME> (2,470)
<REALIZED-GAINS-CURRENT> (10,432)
<APPREC-INCREASE-CURRENT> 220,495
<NET-CHANGE-FROM-OPS> 207,593
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 22,135
<NUMBER-OF-SHARES-REDEEMED> (19,878)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 450,687
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
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<GROSS-ADVISORY-FEES> 3,787
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<PER-SHARE-NAV-BEGIN> 10.95
<PER-SHARE-NII> (0.04)
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 2
<NAME> LARGE CAP GROWTH FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-2000
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 495,965
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<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 488,496
<SHARES-COMMON-STOCK> 44,996
<SHARES-COMMON-PRIOR> 5,000
<ACCUMULATED-NII-CURRENT> (1,060)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 8,101
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 191,810
<NET-ASSETS> 687,347
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<NET-INVESTMENT-INCOME> (801)
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<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 216,796
<NUMBER-OF-SHARES-REDEEMED> (14,403)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 376,562
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<INTEREST-EXPENSE> 0
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<AVERAGE-NET-ASSETS> 427,106
<PER-SHARE-NAV-BEGIN> 10.97
<PER-SHARE-NII> (0.02)
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<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 15.28
<EXPENSE-RATIO> 1.24
</TABLE>
