PBHG EMERGING GROWTH FUND
NSAR-A, 1995-11-27
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<PAGE>      PAGE  1
000 A000000 09/30/95
000 C000000 0000775180
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 THE PBHG FUNDS, INC.
001 B000000 811-4391
001 C000000 8009327781
002 A000000 32 SOUTH STREET
002 B000000 BALTIMORE
002 C000000 MD
002 D010000 21202
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  6
007 C010100  1
007 C020100 PBHG GROWTH FUND
007 C030100 N
007 C010200  2
007 C020200 PBHG EMERGING GROWTH FUND
007 C030200 N
007 C010300  3
007 C020300 PBHG INTERNATIONAL FUND
007 C030300 N
007 C010400  4
007 C020400 PBHG LARGE CAP GROWTH FUND
007 C030400 N
007 C010500  5
007 C020500 PBHG SELECT EQUITY FUND
007 C030500 N
007 C010600  6
007 C020600 PBHG CASH RESERVES FUND
007 C030600 N
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
018  00AA00 Y
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020 B000001 13-3443395
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<PAGE>      PAGE  2
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<PAGE>      PAGE  3
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<PAGE>      PAGE  4
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<PAGE>      PAGE  5
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<PAGE>      PAGE  7
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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  14
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<PAGE>      PAGE  16
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<PAGE>      PAGE  18
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SIGNATURE   JEFFREY A COHEN                              
TITLE       CONTROLLER          
 


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