<PAGE> PAGE 1
000 A000000 09/30/1999
000 C000000 0000811030
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 PROFESSIONALLY MANAGED PORTFOLIOS
001 B000000 811-5037
001 C000000 6268521033
002 A000000 2020 E FINANCIAL WAY, SUITE 100
002 B000000 GLENDORA
002 C000000 CA
002 D010000 91741
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 11
007 C010100 1
007 C020100 AVONDALE HESTER TOTAL RETURN FUND
007 C030100 N
007 C010200 2
007 C020200 HODGES FUND
007 C030200 N
007 C010300 3
007 C020300 PERKINS OPPORTUNITY FUND
007 C030300 N
007 C010400 4
007 C010500 5
007 C020500 PRO-CONSCIENCE WOMEN'S EQUITY MUTUAL FUND
007 C030500 N
007 C010600 6
007 C020600 THE OSTERWEIS FUND
007 C030600 N
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
<PAGE> PAGE 2
007 C021900 HARRIS BRETALL SULLIVAN & SMITH GROWTH EQUITY
007 C031900 N
007 C012000 20
007 C012100 21
007 C012200 22
007 C012300 23
007 C022300 PERKINS DISCOVERY FUND
007 C032300 N
007 C012400 24
007 C012500 25
007 C012600 26
007 C022600 JAMES C. EDWARDS EQUITY MASTERS FUND
007 C032600 N
007 C012700 27
007 C022700 DUNCAN-HURST AGGRESSIVE GROWTH FUND
007 C032700 N
007 C012800 28
007 C022800 DUNCAN-HURST LARGE CAP GROWTH-20 FUND
007 C032800 N
007 C012900 29
007 C022900 DUNCAN-HURST INTERNATIONAL GROWTH FUND
007 C032900 N
007 C013000 30
007 C013100 31
007 C013200 32
007 C013300 33
007 C013400 34
007 C013500 35
007 C013600 36
007 C013700 37
007 C013800 38
007 C013900 39
007 C014000 40
010 A00AA01 INVESTMENT COMPANY ADMINISTRATION LLC
010 C01AA01 GLENDORA
010 C02AA01 CA
010 C03AA01 91741
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 25
019 C00AA00 PMPPORTFOL
020 A000001 MERRILL LYNCH
020 B000001 13-5674085
020 C000001 31
020 A000002 PIPER JAFFRAY
020 B000002 41-0953246
020 C000002 27
020 A000003 CAPITAL INST.
020 B000003 75-1565705
020 C000003 22
020 A000004 MORGAN STANLEY & CO.
<PAGE> PAGE 3
020 B000004 13-2655998
020 C000004 18
020 A000005 BRIDGE TRADING CO.
020 B000005 43-1450530
020 C000005 17
020 A000006 WHEAT FIRST
020 B000006 54-0796506
020 C000006 14
020 A000007 GOLDMAN SACHS & CO.
020 B000007 13-5108880
020 C000007 7
020 A000008 PAINE WEBBER
020 B000008 13-2638166
020 C000008 6
020 A000009 LEHMAN BROTHERS, INC.
020 B000009 13-2518466
020 C000009 6
020 A000010 FCC
020 B000010 N/A
020 C000010 5
021 000000 208
022 A000001 STAR BANK
022 B000001 N/A
022 C000001 450293
022 D000001 552289
022 A000002 UMB BANK, N.A.
022 B000002 N/A
022 C000002 48043
022 D000002 31274
022 A000003 WHEAT FIRST
022 B000003 54-0796506
022 C000003 5540
022 D000003 3750
022 A000004 MERRILL LYNCH
022 B000004 13-5674085
022 C000004 3482
022 D000004 2745
022 A000005 KNIGHT SECURITIES
022 B000005 N/A
022 C000005 2902
022 D000005 118
022 A000006 CRAIG-HALLUM CAPITAL GROUP
022 B000006 N/A
022 C000006 25
022 D000006 2753
022 A000007 BRADFORD SECURITIES
022 B000007 N/A
022 C000007 2021
022 D000007 619
022 A000008 JEFFRIES & CO.
022 B000008 95-2622900
<PAGE> PAGE 4
022 C000008 1221
022 D000008 854
022 A000009 FCC
022 B000009 N/A
022 C000009 965
022 D000009 849
022 A000010 RJ STEICHEN
022 B000010 41-0558730
022 C000010 50
022 D000010 762
023 C000000 523558
023 D000000 600299
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 Y
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
034 00AA00 N
035 00AA00 0
036 B00AA00 0
054 A00AA00 Y
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
055 A00AA00 N
055 B00AA00 N
056 00AA00 Y
057 00AA00 N
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
<PAGE> PAGE 5
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
077 A000000 Y
077 B000000 N
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
080 C00AA00 0
081 B00AA00 0
082 B00AA00 0
083 B00AA00 0
084 B00AA00 0
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
008 A000101 HESTER CAPITAL MANAGEMENT, L.L.C.
008 B000101 A
008 C000101 801-55267
<PAGE> PAGE 6
008 D010101 AUSTIN
008 D020101 TX
008 D030101 78701
011 A000101 FIRST FUND DISTRIBUTORS, INC.
011 B000101 8-42809
011 C010101 PHOENIX
011 C020101 AZ
011 C030101 85018
012 A000101 AMERICAN DATA SERVICES, INC.
012 B000101 84-1964
012 C010101 HAUPPAUGE
012 C020101 NY
012 C030101 11788
012 C040101 0132
013 A000101 TAIT, WELLER & BAKER
013 B010101 PHILADELPHIA
013 B020101 PA
013 B030101 19103
013 B040101 1707
015 A000101 FIRSTAR INSTITUTIONAL CUSTODY SERVICES
015 B000101 C
015 C010101 CINCINNATI
015 C020101 OH
015 C030101 45202
015 E010101 X
024 000100 N
025 A000101 DELETE
025 D000101 0
025 D000102 0
025 D000103 0
025 D000104 0
025 D000105 0
025 D000106 0
025 D000107 0
025 D000108 0
028 A010100 72
028 A020100 0
028 A030100 0
028 A040100 86
028 B010100 5
028 B020100 0
028 B030100 0
028 B040100 15
028 C010100 326
028 C020100 0
028 C030100 0
028 C040100 68
028 D010100 58
028 D020100 0
028 D030100 0
028 D040100 359
<PAGE> PAGE 7
028 E010100 0
028 E020100 0
028 E030100 0
028 E040100 129
028 F010100 23
028 F020100 0
028 F030100 0
028 F040100 76
028 G010100 484
028 G020100 0
028 G030100 0
028 G040100 733
028 H000100 0
029 000100 N
030 A000100 0
030 B000100 0.00
030 C000100 0.00
031 A000100 0
031 B000100 0
032 000100 0
033 000100 0
037 000100 N
038 000100 0
039 000100 N
040 000100 N
041 000100 N
042 A000100 0
042 B000100 0
042 C000100 0
042 D000100 0
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 0
043 000100 0
044 000100 0
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.000
048 A010100 200000
048 A020100 0.700
048 B010100 300000
048 B020100 0.600
048 C010100 0
048 C020100 0.000
048 D010100 0
048 D020100 0.000
048 E010100 0
048 E020100 0.000
048 F010100 0
<PAGE> PAGE 8
048 F020100 0.000
048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 500000
048 K020100 0.500
049 000100 N
050 000100 N
051 000100 N
052 000100 N
053 A000100 N
058 A000100 N
059 000100 Y
060 A000100 Y
060 B000100 Y
061 000100 1000
066 A000100 Y
066 B000100 N
066 C000100 N
066 D000100 N
066 E000100 N
066 F000100 N
066 G000100 Y
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
070 A020100 Y
070 B010100 N
070 B020100 N
070 C010100 N
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 N
<PAGE> PAGE 9
070 J020100 N
070 K010100 Y
070 K020100 N
070 L010100 Y
070 L020100 N
070 M010100 N
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 N
070 O020100 N
070 P010100 N
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 1403
071 B000100 1394
071 C000100 11328
071 D000100 12
072 A000100 6
072 B000100 33
072 C000100 64
072 D000100 0
072 E000100 0
072 F000100 42
072 G000100 15
072 H000100 0
072 I000100 6
072 J000100 3
072 K000100 0
072 L000100 1
072 M000100 3
072 N000100 3
072 O000100 0
072 P000100 0
072 Q000100 11
072 R000100 7
072 S000100 2
072 T000100 0
072 U000100 0
072 V000100 0
072 W000100 1
072 X000100 94
072 Y000100 0
072 Z000100 3
072AA000100 749
072BB000100 0
072CC010100 0
072CC020100 94
<PAGE> PAGE 10
072DD010100 0
072DD020100 0
072EE000100 0
073 A010100 0.0000
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 A000100 0
074 B000100 0
074 C000100 99
074 D000100 918
074 E000100 0
074 F000100 10593
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 24
074 K000100 0
074 L000100 29
074 M000100 5
074 N000100 11668
074 O000100 0
074 P000100 7
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 26
074 S000100 0
074 T000100 11635
074 U010100 288
074 U020100 0
074 V010100 40.42
074 V020100 0.00
074 W000100 0.0000
074 X000100 165
074 Y000100 0
075 A000100 0
075 B000100 11929
076 000100 0.00
008 A000201 HODGES CAPITAL MANAGEMENT, INC.
008 B000201 A
008 C000201 801-35811
008 D010201 DALLAS
008 D020201 TX
008 D030201 75201
011 A000201 FIRST DALLAS SECURITIES, INC.
011 B000201 8-41231
011 C010201 DALLAS
011 C020201 TX
011 C030201 75201
<PAGE> PAGE 11
012 A000201 AMERICAN DATA SERVICES, INC.
012 B000201 84-1964
012 C010201 HAUPPAUGE
012 C020201 NY
012 C030201 11788
012 C040201 0132
013 A000201 TAIT, WELLER & BAKER
013 B010201 PHILADELPHIA
013 B020201 PA
013 B030201 19103
013 B040201 1707
014 A000201 FIRST DALLAS SECURITIES, INC.
014 B000201 8-41231
015 A000201 FIRSTAR INSTITUTIONAL CUSTODY SERVICES
015 B000201 C
015 C010201 CINCINNATI
015 C020201 OH
015 C030201 45202
015 E010201 X
024 000200 Y
025 A000201 KNIGHT/TRIMARK GROUP
025 C000201 E
025 D000201 148
025 A000202 KNIGHT/TRIMARK GROUP
025 C000202 E
025 D000202 52
025 A000203 DELETE
025 D000203 0
025 D000204 0
025 D000205 0
025 D000206 0
025 D000207 0
025 D000208 0
028 A010200 878
028 A020200 0
028 A030200 0
028 A040200 159
028 B010200 350
028 B020200 0
028 B030200 0
028 B040200 422
028 C010200 1002
028 C020200 0
028 C030200 0
028 C040200 226
028 D010200 493
028 D020200 0
028 D030200 0
028 D040200 428
028 E010200 238
028 E020200 0
<PAGE> PAGE 12
028 E030200 0
028 E040200 402
028 F010200 277
028 F020200 0
028 F030200 0
028 F040200 1251
028 G010200 3238
028 G020200 0
028 G030200 0
028 G040200 2888
028 H000200 0
029 000200 N
030 A000200 0
030 B000200 0.00
030 C000200 0.00
031 A000200 0
031 B000200 0
032 000200 0
033 000200 0
037 000200 N
038 000200 0
039 000200 N
040 000200 Y
041 000200 Y
042 A000200 0
042 B000200 0
042 C000200 0
042 D000200 0
042 E000200 0
042 F000200 0
042 G000200 100
042 H000200 0
043 000200 49
044 000200 348
045 000200 Y
046 000200 N
047 000200 Y
048 000200 0.850
048 A010200 0
048 A020200 0.000
048 B010200 0
048 B020200 0.000
048 C010200 0
048 C020200 0.000
048 D010200 0
048 D020200 0.000
048 E010200 0
048 E020200 0.000
048 F010200 0
048 F020200 0.000
048 G010200 0
<PAGE> PAGE 13
048 G020200 0.000
048 H010200 0
048 H020200 0.000
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 0
048 K020200 0.000
049 000200 N
050 000200 N
051 000200 N
052 000200 N
053 A000200 N
058 A000200 N
059 000200 Y
060 A000200 N
060 B000200 N
061 000200 250
066 A000200 Y
066 B000200 N
066 C000200 Y
066 D000200 N
066 E000200 N
066 F000200 N
066 G000200 N
067 000200 N
068 A000200 N
068 B000200 N
069 000200 N
070 A010200 Y
070 A020200 N
070 B010200 Y
070 B020200 Y
070 C010200 Y
070 C020200 N
070 D010200 Y
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 N
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
<PAGE> PAGE 14
070 K020200 Y
070 L010200 Y
070 L020200 N
070 M010200 N
070 M020200 N
070 N010200 N
070 N020200 N
070 O010200 N
070 O020200 N
070 P010200 N
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 Y
070 R020200 N
071 A000200 16910
071 B000200 18105
071 C000200 31664
071 D000200 53
072 A000200 6
072 B000200 35
072 C000200 240
072 D000200 0
072 E000200 0
072 F000200 150
072 G000200 35
072 H000200 0
072 I000200 15
072 J000200 14
072 K000200 0
072 L000200 5
072 M000200 5
072 N000200 9
072 O000200 0
072 P000200 0
072 Q000200 14
072 R000200 9
072 S000200 2
072 T000200 49
072 U000200 0
072 V000200 0
072 W000200 2
072 X000200 309
072 Y000200 0
072 Z000200 -34
072AA000200 2606
072BB000200 0
072CC010200 0
072CC020200 7457
072DD010200 0
072DD020200 0
<PAGE> PAGE 15
072EE000200 358
073 A010200 0.0000
073 A020200 0.0000
073 B000200 0.0000
073 C000200 0.0000
074 A000200 0
074 B000200 0
074 C000200 2032
074 D000200 0
074 E000200 547
074 F000200 28050
074 G000200 1135
074 H000200 0
074 I000200 0
074 J000200 6
074 K000200 0
074 L000200 23
074 M000200 24
074 N000200 31817
074 O000200 154
074 P000200 23
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 1018
074 S000200 0
074 T000200 30622
074 U010200 2127
074 U020200 0
074 V010200 14.40
074 V020200 0.00
074 W000200 0.0000
074 X000200 180
074 Y000200 0
075 A000200 0
075 B000200 35311
076 000200 0.00
008 A000301 PERKINS CAPITAL MANAGEMENT, INC.
008 B000301 A
008 C000301 801-22888
008 D010301 WAYZATA
008 D020301 MN
008 D030301 55391
008 D040301 1769
011 A000301 FIRST FUND DISTRIBUTORS, INC.
011 B000301 8-42809
011 C010301 PHOENIX
011 C020301 AZ
011 C030301 85018
012 A000301 PFPC, INC.
<PAGE> PAGE 16
012 B000301 85-
012 C010301 WILMINGTON
012 C020301 DE
012 C030301 19899
012 C040301 8813
013 A000301 TAIT, WELLER & BAKER
013 B010301 PHILADELPHIA
013 B020301 PA
013 B030301 19101
015 A000301 FIRSTAR INSTITUTIONAL CUSTODY SERVICES
015 B000301 C
015 C010301 CINCINNATI
015 C020301 OH
015 C030301 45202
015 E010301 X
024 000300 N
028 A010300 155
028 A020300 0
028 A030300 0
028 A040300 1283
028 B010300 79
028 B020300 0
028 B030300 0
028 B040300 1379
028 C010300 124
028 C020300 0
028 C030300 0
028 C040300 815
028 D010300 106
028 D020300 0
028 D030300 0
028 D040300 945
028 E010300 59
028 E020300 0
028 E030300 0
028 E040300 657
028 F010300 452
028 F020300 0
028 F030300 0
028 F040300 1108
028 G010300 975
028 G020300 0
028 G030300 0
028 G040300 6187
028 H000300 0
029 000300 Y
030 A000300 11
030 B000300 4.75
030 C000300 0.00
031 A000300 0
031 B000300 0
<PAGE> PAGE 17
032 000300 11
033 000300 0
037 000300 N
038 000300 0
039 000300 N
040 000300 Y
041 000300 Y
042 A000300 0
042 B000300 0
042 C000300 0
042 D000300 0
042 E000300 0
042 F000300 0
042 G000300 100
042 H000300 0
043 000300 31
044 000300 20
045 000300 Y
046 000300 N
047 000300 Y
048 000300 1.000
048 A010300 0
048 A020300 0.000
048 B010300 0
048 B020300 0.000
048 C010300 0
048 C020300 0.000
048 D010300 0
048 D020300 0.000
048 E010300 0
048 E020300 0.000
048 F010300 0
048 F020300 0.000
048 G010300 0
048 G020300 0.000
048 H010300 0
048 H020300 0.000
048 I010300 0
048 I020300 0.000
048 J010300 0
048 J020300 0.000
048 K010300 0
048 K020300 0.000
049 000300 N
050 000300 N
051 000300 N
052 000300 N
053 A000300 N
058 A000300 N
059 000300 Y
060 A000300 Y
<PAGE> PAGE 18
060 B000300 Y
061 000300 2500
066 A000300 Y
066 B000300 N
066 C000300 N
066 D000300 Y
066 E000300 N
066 F000300 N
066 G000300 N
067 000300 N
068 A000300 N
068 B000300 N
069 000300 N
070 A010300 Y
070 A020300 Y
070 B010300 Y
070 B020300 N
070 C010300 N
070 C020300 N
070 D010300 N
070 D020300 N
070 E010300 N
070 E020300 N
070 F010300 N
070 F020300 N
070 G010300 N
070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 Y
070 K020300 N
070 L010300 Y
070 L020300 N
070 M010300 N
070 M020300 N
070 N010300 N
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 N
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 Y
070 R020300 N
071 A000300 2622
071 B000300 10600
<PAGE> PAGE 19
071 C000300 29709
071 D000300 9
072 A000300 6
072 B000300 11
072 C000300 60
072 D000300 0
072 E000300 0
072 F000300 154
072 G000300 24
072 H000300 0
072 I000300 45
072 J000300 11
072 K000300 0
072 L000300 0
072 M000300 2
072 N000300 10
072 O000300 0
072 P000300 0
072 Q000300 14
072 R000300 7
072 S000300 11
072 T000300 31
072 U000300 0
072 V000300 0
072 W000300 7
072 X000300 316
072 Y000300 0
072 Z000300 -245
072AA000300 0
072BB000300 65
072CC010300 1601
072CC020300 0
072DD010300 0
072DD020300 0
072EE000300 0
073 A010300 0.0000
073 A020300 0.0000
073 B000300 0.0000
073 C000300 0.0000
074 A000300 0
074 B000300 3164
074 C000300 0
074 D000300 0
074 E000300 0
074 F000300 24789
074 G000300 0
074 H000300 0
074 I000300 264
074 J000300 41
074 K000300 0
074 L000300 0
<PAGE> PAGE 20
074 M000300 24
074 N000300 28282
074 O000300 0
074 P000300 24
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 406
074 S000300 0
074 T000300 27852
074 U010300 2268
074 U020300 0
074 V010300 12.28
074 V020300 0.00
074 W000300 0.0000
074 X000300 3396
074 Y000300 0
075 A000300 0
075 B000300 30797
076 000300 0.00
008 A000501 PRO-CONSCIENCE FUNDS, INC.
008 B000501 A
008 C000501 801-54957
008 D010501 SAN FRANCISCO
008 D020501 CA
008 D030501 94105
011 A000501 FIRST FUND DISTRIBUTORS, INC.
011 B000501 8-42809
011 C010501 PHOENIX
011 C020501 AZ
011 C030501 85018
012 A000501 AMERICAN DATA SERVICES, INC.
012 B000501 84-1964
012 C010501 HAUPPAUGE
012 C020501 NY
012 C030501 11788
012 C040501 0132
013 A000501 TAIT, WELLER & BAKER
013 B010501 PHILADELPHIA
013 B020501 PA
013 B030501 19101
013 B040501 1707
015 A000501 FIRSTAR INSTITUTIONAL CUSTODY SERVICES
015 B000501 C
015 C010501 CINCINNATI
015 C020501 OH
015 C030501 45202
015 E010501 X
024 000500 N
025 A000501 DELETE
<PAGE> PAGE 21
025 D000501 0
025 A000502 DELETE
025 D000502 0
025 D000503 0
025 D000504 0
025 D000505 0
025 D000506 0
025 D000507 0
025 D000508 0
028 A010500 217
028 A020500 0
028 A030500 0
028 A040500 23
028 B010500 282
028 B020500 0
028 B030500 0
028 B040500 36
028 C010500 259
028 C020500 0
028 C030500 0
028 C040500 99
028 D010500 180
028 D020500 0
028 D030500 0
028 D040500 141
028 E010500 219
028 E020500 0
028 E030500 0
028 E040500 74
028 F010500 184
028 F020500 0
028 F030500 0
028 F040500 68
028 G010500 1341
028 G020500 0
028 G030500 0
028 G040500 441
028 H000500 0
029 000500 N
030 A000500 0
030 B000500 0.00
030 C000500 0.00
031 A000500 0
031 B000500 0
032 000500 0
033 000500 0
037 000500 N
038 000500 0
039 000500 N
040 000500 Y
041 000500 Y
<PAGE> PAGE 22
042 A000500 0
042 B000500 0
042 C000500 0
042 D000500 0
042 E000500 0
042 F000500 0
042 G000500 100
042 H000500 0
043 000500 13
044 000500 42
045 000500 Y
046 000500 N
047 000500 Y
048 000500 1.000
048 A010500 0
048 A020500 0.000
048 B010500 0
048 B020500 0.000
048 C010500 0
048 C020500 0.000
048 D010500 0
048 D020500 0.000
048 E010500 0
048 E020500 0.000
048 F010500 0
048 F020500 0.000
048 G010500 0
048 G020500 0.000
048 H010500 0
048 H020500 0.000
048 I010500 0
048 I020500 0.000
048 J010500 0
048 J020500 0.000
048 K010500 0
048 K020500 0.000
049 000500 N
050 000500 N
051 000500 N
052 000500 N
053 A000500 Y
053 B000500 Y
058 A000500 N
059 000500 Y
060 A000500 Y
060 B000500 Y
061 000500 1000
066 A000500 Y
066 B000500 N
066 C000500 Y
066 D000500 N
<PAGE> PAGE 23
066 E000500 N
066 F000500 N
066 G000500 N
067 000500 N
068 A000500 N
068 B000500 N
069 000500 N
070 A010500 Y
070 A020500 Y
070 B010500 N
070 B020500 N
070 C010500 N
070 C020500 N
070 D010500 N
070 D020500 N
070 E010500 N
070 E020500 N
070 F010500 N
070 F020500 N
070 G010500 Y
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 Y
070 J020500 N
070 K010500 Y
070 K020500 N
070 L010500 Y
070 L020500 Y
070 M010500 Y
070 M020500 N
070 N010500 N
070 N020500 N
070 O010500 N
070 O020500 N
070 P010500 N
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 N
070 R020500 N
071 A000500 1653
071 B000500 569
071 C000500 10313
071 D000500 6
072 A000500 6
072 B000500 3
072 C000500 55
072 D000500 0
<PAGE> PAGE 24
072 E000500 0
072 F000500 54
072 G000500 15
072 H000500 0
072 I000500 11
072 J000500 5
072 K000500 0
072 L000500 3
072 M000500 3
072 N000500 5
072 O000500 0
072 P000500 0
072 Q000500 9
072 R000500 10
072 S000500 2
072 T000500 13
072 U000500 0
072 V000500 0
072 W000500 1
072 X000500 131
072 Y000500 51
072 Z000500 -22
072AA000500 19
072BB000500 0
072CC010500 0
072CC020500 468
072DD010500 0
072DD020500 0
072EE000500 0
073 A010500 0.0000
073 A020500 0.0000
073 B000500 0.0000
073 C000500 0.0000
074 A000500 111
074 B000500 0
074 C000500 0
074 D000500 0
074 E000500 0
074 F000500 10127
074 G000500 0
074 H000500 0
074 I000500 0
074 J000500 0
074 K000500 0
074 L000500 18
074 M000500 6
074 N000500 10262
074 O000500 53
074 P000500 0
074 Q000500 0
074 R010500 0
<PAGE> PAGE 25
074 R020500 0
074 R030500 0
074 R040500 23
074 S000500 0
074 T000500 10186
074 U010500 535
074 U020500 0
074 V010500 19.05
074 V020500 0.00
074 W000500 0.0000
074 X000500 682
074 Y000500 0
075 A000500 0
075 B000500 10697
076 000500 0.00
008 A000601 OSTERWEIS CAPITAL MANAGEMENT, INC.
008 B000601 A
008 C000601 801-18395
008 D010601 SAN FRANCISCO
008 D020601 CA
008 D030601 94111
011 A000601 FIRST FUND DISTRIBUTORS, INC.
011 B000601 8-42809
011 C010601 PHOENIX
011 C020601 AZ
011 C030601 85018
012 A000601 AMERICAN DATA SERVICES, INC.
012 B000601 84-1964
012 C010601 HAUPPAUGE
012 C020601 NY
012 C030601 11788
012 C040601 0132
013 A000601 ERNST & YOUNG LLP
013 B010601 LOS ANGELES
013 B020601 CA
013 B030601 90017
015 A000601 FIRSTAR INSTITUTIONAL CUSTODY SERVICES
015 B000601 C
015 C010601 CINCINNATI
015 C020601 OH
015 C030601 45202
015 E010601 X
024 000600 N
028 A010600 2842
028 A020600 0
028 A030600 0
028 A040600 293
028 B010600 155
028 B020600 0
028 B030600 0
028 B040600 58
<PAGE> PAGE 26
028 C010600 662
028 C020600 0
028 C030600 0
028 C040600 500
028 D010600 680
028 D020600 0
028 D030600 0
028 D040600 120
028 E010600 34
028 E020600 0
028 E030600 0
028 E040600 122
028 F010600 1259
028 F020600 0
028 F030600 0
028 F040600 463
028 G010600 5632
028 G020600 0
028 G030600 0
028 G040600 1556
028 H000600 0
029 000600 N
030 A000600 0
030 B000600 0.00
030 C000600 0.00
031 A000600 0
031 B000600 0
032 000600 0
033 000600 0
037 000600 N
038 000600 0
039 000600 N
040 000600 N
041 000600 N
042 A000600 0
042 B000600 0
042 C000600 0
042 D000600 0
042 E000600 0
042 F000600 0
042 G000600 0
042 H000600 0
043 000600 0
044 000600 0
045 000600 Y
046 000600 N
047 000600 Y
048 000600 1.000
048 A010600 0
048 A020600 0.000
048 B010600 0
<PAGE> PAGE 27
048 B020600 0.000
048 C010600 0
048 C020600 0.000
048 D010600 0
048 D020600 0.000
048 E010600 0
048 E020600 0.000
048 F010600 0
048 F020600 0.000
048 G010600 0
048 G020600 0.000
048 H010600 0
048 H020600 0.000
048 I010600 0
048 I020600 0.000
048 J010600 0
048 J020600 0.000
048 K010600 0
048 K020600 0.000
049 000600 N
050 000600 N
051 000600 N
052 000600 N
053 A000600 Y
053 B000600 Y
058 A000600 N
059 000600 Y
060 A000600 Y
060 B000600 Y
061 000600 100000
066 A000600 Y
066 B000600 N
066 C000600 N
066 D000600 N
066 E000600 N
066 F000600 N
066 G000600 Y
067 000600 N
068 A000600 N
068 B000600 N
069 000600 N
070 A010600 Y
070 A020600 Y
070 B010600 Y
070 B020600 N
070 C010600 Y
070 C020600 N
070 D010600 Y
070 D020600 N
070 E010600 Y
070 E020600 N
<PAGE> PAGE 28
070 F010600 Y
070 F020600 N
070 G010600 Y
070 G020600 N
070 H010600 Y
070 H020600 N
070 I010600 Y
070 I020600 N
070 J010600 Y
070 J020600 N
070 K010600 Y
070 K020600 N
070 L010600 Y
070 L020600 N
070 M010600 N
070 M020600 N
070 N010600 N
070 N020600 N
070 O010600 N
070 O020600 N
070 P010600 N
070 P020600 N
070 Q010600 N
070 Q020600 N
070 R010600 N
070 R020600 N
071 A000600 7157
071 B000600 2908
071 C000600 26696
071 D000600 11
072 A000600 6
072 B000600 92
072 C000600 78
072 D000600 0
072 E000600 13
072 F000600 158
072 G000600 32
072 H000600 0
072 I000600 6
072 J000600 6
072 K000600 0
072 L000600 3
072 M000600 4
072 N000600 4
072 O000600 0
072 P000600 0
072 Q000600 11
072 R000600 13
072 S000600 2
072 T000600 0
072 U000600 0
<PAGE> PAGE 29
072 V000600 0
072 W000600 39
072 X000600 278
072 Y000600 0
072 Z000600 -95
072AA000600 1538
072BB000600 0
072CC010600 1890
072CC020600 0
072DD010600 0
072DD020600 0
072EE000600 0
073 A010600 0.0000
073 A020600 0.0000
073 B000600 0.0000
073 C000600 0.0000
074 A000600 0
074 B000600 2287
074 C000600 0
074 D000600 2834
074 E000600 0
074 F000600 27962
074 G000600 0
074 H000600 0
074 I000600 0
074 J000600 0
074 K000600 0
074 L000600 22
074 M000600 1
074 N000600 33106
074 O000600 500
074 P000600 28
074 Q000600 0
074 R010600 0
074 R020600 0
074 R030600 0
074 R040600 43
074 S000600 0
074 T000600 32535
074 U010600 1603
074 U020600 0
074 V010600 20.29
074 V020600 0.00
074 W000600 0.0000
074 X000600 188
074 Y000600 0
075 A000600 0
075 B000600 31721
076 000600 0.00
008 A001901 HARRIS BRETALL SULLIVAN & SMITH LLC
008 B001901 A
<PAGE> PAGE 30
008 C001901 801-7369
008 D011901 SAN FRANCISCO
008 D021901 CA
008 D031901 94104
011 A001901 FIRST FUND DISTRIBUTORS, INC.
011 B001901 8-42809
011 C011901 PHOENIX
011 C021901 AZ
011 C031901 85018
012 A001901 AMERICAN DATA SERVICES, INC.
012 B001901 84-1964
012 C011901 HAUPPAUGE
012 C021901 NY
012 C031901 11788
012 C041901 0132
013 A001901 ERNST & YOUNG LLP
013 B011901 LOS ANGELES
013 B021901 CA
013 B031901 90017
015 A001901 FIRSTAR INSTITUTIONAL CUSTODY SERVICES
015 B001901 C
015 C011901 CINCINNATI
015 C021901 OH
015 C031901 45202
015 E011901 X
024 001900 Y
025 A001901 MORGAN STANLEY DEAN WITTER & CO.
025 B001901 13-2655998
025 C001901 E
025 D001901 401
025 A001902 THE GOLDMAN SACHS GROUP, INC.
025 B001902 13-5108880
025 C001902 E
025 D001902 366
025 A001903 DELETE
025 D001903 0
025 A001904 DELETE
025 D001904 0
025 A001905 DELETE
025 D001905 0
025 D001906 0
025 D001907 0
025 D001908 0
028 A011900 640
028 A021900 0
028 A031900 0
028 A041900 1502
028 B011900 1100
028 B021900 0
028 B031900 0
028 B041900 11
<PAGE> PAGE 31
028 C011900 1295
028 C021900 0
028 C031900 0
028 C041900 35
028 D011900 890
028 D021900 0
028 D031900 0
028 D041900 1140
028 E011900 704
028 E021900 0
028 E031900 0
028 E041900 596
028 F011900 469
028 F021900 0
028 F031900 0
028 F041900 47
028 G011900 5098
028 G021900 0
028 G031900 0
028 G041900 3331
028 H001900 0
029 001900 N
030 A001900 0
030 B001900 0.00
030 C001900 0.00
031 A001900 0
031 B001900 0
032 001900 0
033 001900 0
037 001900 N
038 001900 0
039 001900 N
040 001900 Y
041 001900 Y
042 A001900 0
042 B001900 0
042 C001900 0
042 D001900 0
042 E001900 0
042 F001900 0
042 G001900 100
042 H001900 0
043 001900 22
044 001900 1
045 001900 Y
046 001900 N
047 001900 Y
048 001900 0.750
048 A011900 0
048 A021900 0.000
048 B011900 0
<PAGE> PAGE 32
048 B021900 0.000
048 C011900 0
048 C021900 0.000
048 D011900 0
048 D021900 0.000
048 E011900 0
048 E021900 0.000
048 F011900 0
048 F021900 0.000
048 G011900 0
048 G021900 0.000
048 H011900 0
048 H021900 0.000
048 I011900 0
048 I021900 0.000
048 J011900 0
048 J021900 0.000
048 K011900 0
048 K021900 0.000
049 001900 N
050 001900 N
051 001900 N
052 001900 N
053 A001900 Y
053 B001900 Y
058 A001900 N
059 001900 Y
060 A001900 Y
060 B001900 Y
061 001900 10000
066 A001900 Y
066 B001900 N
066 C001900 N
066 D001900 Y
066 E001900 N
066 F001900 N
066 G001900 N
067 001900 N
068 A001900 N
068 B001900 N
069 001900 N
070 A011900 Y
070 A021900 Y
070 B011900 N
070 B021900 N
070 C011900 N
070 C021900 N
070 D011900 N
070 D021900 N
070 E011900 N
070 E021900 N
<PAGE> PAGE 33
070 F011900 N
070 F021900 N
070 G011900 N
070 G021900 N
070 H011900 N
070 H021900 N
070 I011900 N
070 I021900 N
070 J011900 N
070 J021900 N
070 K011900 Y
070 K021900 N
070 L011900 N
070 L021900 N
070 M011900 N
070 M021900 N
070 N011900 Y
070 N021900 N
070 O011900 Y
070 O021900 N
070 P011900 N
070 P021900 N
070 Q011900 N
070 Q021900 N
070 R011900 N
070 R021900 N
071 A001900 6479
071 B001900 5195
071 C001900 17147
071 D001900 30
072 A001900 6
072 B001900 10
072 C001900 52
072 D001900 0
072 E001900 0
072 F001900 67
072 G001900 15
072 H001900 0
072 I001900 9
072 J001900 6
072 K001900 0
072 L001900 4
072 M001900 3
072 N001900 10
072 O001900 0
072 P001900 0
072 Q001900 10
072 R001900 7
072 S001900 2
072 T001900 22
072 U001900 0
<PAGE> PAGE 34
072 V001900 0
072 W001900 2
072 X001900 157
072 Y001900 42
072 Z001900 -53
072AA001900 1105
072BB001900 0
072CC011900 0
072CC021900 1737
072DD011900 0
072DD021900 0
072EE001900 0
073 A011900 0.0000
073 A021900 0.0000
073 B001900 0.0000
073 C001900 0.0000
074 A001900 0
074 B001900 687
074 C001900 0
074 D001900 0
074 E001900 0
074 F001900 17527
074 G001900 0
074 H001900 0
074 I001900 0
074 J001900 0
074 K001900 0
074 L001900 22
074 M001900 0
074 N001900 18236
074 O001900 0
074 P001900 17
074 Q001900 0
074 R011900 0
074 R021900 0
074 R031900 0
074 R041900 20
074 S001900 0
074 T001900 18199
074 U011900 934
074 U021900 0
074 V011900 19.49
074 V021900 0.00
074 W001900 0.0000
074 X001900 100
074 Y001900 0
075 A001900 0
075 B001900 17873
076 001900 0.00
008 A002301 PERKINS CAPITAL MANAGEMENT, INC.
008 B002301 A
<PAGE> PAGE 35
008 C002301 801-22888
008 D012301 WAYZATA
008 D022301 MN
008 D032301 55391
008 D042301 1769
011 A002301 FIRST FUND DISTRIBUTORS, INC.
011 B002301 8-42809
011 C012301 PHOENIX
011 C022301 AZ
011 C032301 85018
012 A002301 PFPC, INC.
012 B002301 85-
012 C012301 WILMINGTON
012 C022301 DE
012 C032301 19899
012 C042301 8813
013 A002301 TAIT, WELLER & BAKER
013 B012301 PHILADELPHIA
013 B022301 PA
013 B032301 19101
015 A002301 FIRSTAR INSTITUTIONAL CUSTODY SERVICES
015 B002301 C
015 C012301 CINCINNATI
015 C022301 OH
015 C032301 45202
015 E012301 X
024 002300 N
028 A012300 12
028 A022300 0
028 A032300 0
028 A042300 4
028 B012300 1
028 B022300 0
028 B032300 0
028 B042300 21
028 C012300 4
028 C022300 0
028 C032300 0
028 C042300 12
028 D012300 1
028 D022300 0
028 D032300 0
028 D042300 16
028 E012300 7
028 E022300 0
028 E032300 0
028 E042300 5
028 F012300 26
028 F022300 0
028 F032300 0
028 F042300 0
<PAGE> PAGE 36
028 G012300 51
028 G022300 0
028 G032300 0
028 G042300 58
028 H002300 0
029 002300 Y
030 A002300 1
030 B002300 4.75
030 C002300 0.00
031 A002300 0
031 B002300 0
032 002300 0
033 002300 0
037 002300 N
038 002300 0
039 002300 N
040 002300 Y
041 002300 Y
042 A002300 0
042 B002300 0
042 C002300 0
042 D002300 0
042 E002300 0
042 F002300 0
042 G002300 100
042 H002300 0
043 002300 1
044 002300 39
045 002300 Y
046 002300 N
047 002300 Y
048 002300 1.000
048 A012300 0
048 A022300 0.000
048 B012300 0
048 B022300 0.000
048 C012300 0
048 C022300 0.000
048 D012300 0
048 D022300 0.000
048 E012300 0
048 E022300 0.000
048 F012300 0
048 F022300 0.000
048 G012300 0
048 G022300 0.000
048 H012300 0
048 H022300 0.000
048 I012300 0
048 I022300 0.000
048 J012300 0
<PAGE> PAGE 37
048 J022300 0.000
048 K012300 0
048 K022300 0.000
049 002300 N
050 002300 N
051 002300 N
052 002300 N
053 A002300 Y
053 B002300 Y
058 A002300 N
059 002300 Y
060 A002300 Y
060 B002300 Y
061 002300 2500
066 A002300 Y
066 B002300 N
066 C002300 N
066 D002300 Y
066 E002300 N
066 F002300 N
066 G002300 N
067 002300 N
068 A002300 N
068 B002300 N
069 002300 N
070 A012300 Y
070 A022300 Y
070 B012300 Y
070 B022300 N
070 C012300 N
070 C022300 N
070 D012300 N
070 D022300 N
070 E012300 N
070 E022300 N
070 F012300 N
070 F022300 N
070 G012300 N
070 G022300 N
070 H012300 N
070 H022300 N
070 I012300 N
070 I022300 N
070 J012300 Y
070 J022300 N
070 K012300 Y
070 K022300 N
070 L012300 Y
070 L022300 N
070 M012300 N
070 M022300 N
<PAGE> PAGE 38
070 N012300 N
070 N022300 N
070 O012300 Y
070 O022300 N
070 P012300 N
070 P022300 N
070 Q012300 N
070 Q022300 N
070 R012300 Y
070 R022300 N
071 A002300 476
071 B002300 617
071 C002300 781
071 D002300 61
072 A002300 6
072 B002300 1
072 C002300 1
072 D002300 0
072 E002300 0
072 F002300 4
072 G002300 15
072 H002300 0
072 I002300 24
072 J002300 4
072 K002300 0
072 L002300 2
072 M002300 2
072 N002300 10
072 O002300 0
072 P002300 0
072 Q002300 7
072 R002300 5
072 S002300 0
072 T002300 1
072 U002300 1
072 V002300 0
072 W002300 1
072 X002300 76
072 Y002300 65
072 Z002300 -9
072AA002300 201
072BB002300 0
072CC012300 0
072CC022300 46
072DD012300 0
072DD022300 0
072EE002300 0
073 A012300 0.0000
073 A022300 0.0000
073 B002300 0.0000
073 C002300 0.0000
<PAGE> PAGE 39
074 A002300 0
074 B002300 168
074 C002300 0
074 D002300 0
074 E002300 0
074 F002300 778
074 G002300 0
074 H002300 0
074 I002300 2
074 J002300 0
074 K002300 10
074 L002300 0
074 M002300 11
074 N002300 969
074 O002300 0
074 P002300 0
074 Q002300 0
074 R012300 0
074 R022300 0
074 R032300 0
074 R042300 34
074 S002300 0
074 T002300 935
074 U012300 46
074 U022300 0
074 V012300 20.54
074 V022300 0.00
074 W002300 0.0000
074 X002300 84
074 Y002300 0
075 A002300 0
075 B002300 861
076 002300 0.00
008 A002601 JAMES C. EDWARDS & CO., INC.
008 B002601 A
008 C002601 801-0000
008 D012601 NEW YORK
008 D022601 NY
008 D032601 10032
011 A002601 FIRST FUND DISTRIBUTORS, INC.
011 B002601 8-42809
011 C012601 PHOENIX
011 C022601 AZ
011 C032601 85018
012 A002601 AMERICAN DATA SERVICES, INC.
012 B002601 84-1964
012 C012601 HAUPPAUGE
012 C022601 NY
012 C032601 11788
012 C042601 0132
013 A002601 TAIT, WELLER & BAKER
<PAGE> PAGE 40
013 B012601 PHILADELPHIA
013 B022601 PA
013 B032601 19103
013 B042601 1707
015 A002601 FIRSTAR INSTITUTIONAL CUSTODY SERVICES, INC.
015 B002601 C
015 C012601 CINCINNATI
015 C022601 OH
015 C032601 45202
015 E012601 X
024 002600 Y
025 A002601 MORGAN STANLEY DEAN WITTER & CO.
025 B002601 13-2655998
025 C002601 E
025 D002601 54
025 D002602 0
025 D002603 0
025 D002604 0
025 D002605 0
025 D002606 0
025 D002607 0
025 D002608 0
028 A012600 735
028 A022600 0
028 A032600 0
028 A042600 0
028 B012600 25
028 B022600 0
028 B032600 0
028 B042600 0
028 C012600 151
028 C022600 0
028 C032600 0
028 C042600 0
028 D012600 105
028 D022600 0
028 D032600 0
028 D042600 0
028 E012600 28
028 E022600 0
028 E032600 0
028 E042600 0
028 F012600 535
028 F022600 0
028 F032600 0
028 F042600 0
028 G012600 1579
028 G022600 0
028 G032600 0
028 G042600 0
028 H002600 0
<PAGE> PAGE 41
029 002600 N
030 A002600 0
030 B002600 0.00
030 C002600 0.00
031 A002600 0
031 B002600 0
032 002600 0
033 002600 0
037 002600 N
038 002600 0
039 002600 N
040 002600 N
045 002600 Y
046 002600 N
047 002600 Y
048 002600 0.750
048 A012600 0
048 A022600 0.000
048 B012600 0
048 B022600 0.000
048 C012600 0
048 C022600 0.000
048 D012600 0
048 D022600 0.000
048 E012600 0
048 E022600 0.000
048 F012600 0
048 F022600 0.000
048 G012600 0
048 G022600 0.000
048 H012600 0
048 H022600 0.000
048 I012600 0
048 I022600 0.000
048 J012600 0
048 J022600 0.000
048 K012600 0
048 K022600 0.000
049 002600 N
050 002600 N
051 002600 N
052 002600 N
053 A002600 Y
053 B002600 Y
058 A002600 N
059 002600 Y
060 A002600 Y
060 B002600 Y
061 002600 5000
066 A002600 Y
066 B002600 N
<PAGE> PAGE 42
066 C002600 N
066 D002600 Y
066 E002600 N
066 F002600 N
066 G002600 N
067 002600 N
068 A002600 N
068 B002600 N
069 002600 N
070 A012600 Y
070 A022600 N
070 B012600 N
070 B022600 N
070 C012600 N
070 C022600 N
070 D012600 N
070 D022600 N
070 E012600 N
070 E022600 N
070 F012600 N
070 F022600 N
070 G012600 N
070 G022600 N
070 H012600 N
070 H022600 N
070 I012600 N
070 I022600 N
070 J012600 Y
070 J022600 N
070 K012600 Y
070 K022600 Y
070 L012600 Y
070 L022600 Y
070 M012600 N
070 M022600 N
070 N012600 N
070 N022600 N
070 O012600 Y
070 O022600 N
070 P012600 N
070 P022600 N
070 Q012600 N
070 Q022600 N
070 R012600 N
070 R022600 N
071 A002600 1415
071 B002600 19
071 C002600 691
071 D002600 3
072 A002600 6
072 B002600 14
<PAGE> PAGE 43
072 C002600 2
072 D002600 0
072 E002600 0
072 F002600 5
072 G002600 15
072 H002600 0
072 I002600 8
072 J002600 3
072 K002600 0
072 L002600 2
072 M002600 2
072 N002600 3
072 O002600 0
072 P002600 0
072 Q002600 8
072 R002600 7
072 S002600 1
072 T002600 0
072 U002600 0
072 V002600 0
072 W002600 2
072 X002600 56
072 Y002600 46
072 Z002600 6
072AA002600 0
072BB002600 31
072CC012600 0
072CC022600 69
072DD012600 0
072DD022600 0
072EE002600 0
073 A012600 0.0000
073 A022600 0.0000
073 B002600 0.0000
073 C002600 0.0000
074 A002600 0
074 B002600 0
074 C002600 166
074 D002600 0
074 E002600 0
074 F002600 1296
074 G002600 0
074 H002600 0
074 I002600 0
074 J002600 19
074 K002600 22
074 L002600 3
074 M002600 5
074 N002600 1511
074 O002600 0
074 P002600 0
<PAGE> PAGE 44
074 Q002600 0
074 R012600 0
074 R022600 0
074 R032600 0
074 R042600 26
074 S002600 0
074 T002600 1485
074 U012600 158
074 U022600 0
074 V012600 9.40
074 V022600 0.00
074 W002600 0.0000
074 X002600 15
074 Y002600 0
075 A002600 0
075 B002600 1293
076 002600 0.00
008 A002701 DUNCAN-HURST CAPITAL MANAGEMENT INC.
008 B002701 A
008 C002701 801-000000
008 D012701 SAN DIEGO
008 D022701 CA
008 D032701 92121
011 A002701 FIRST FUND DISTRIBUTORS, INC.
011 B002701 8-42809
011 C012701 PHOENIX
011 C022701 AZ
011 C032701 85108
012 A002701 NATIONAL FINANCIAL DATA SERVICES
012 B002701 84-00000
012 C012701 KANSAS CITY
012 C022701 MO
012 C032701 64141
012 C042701 6284
013 A002701 TAIT, WELLER, & BAKER
013 B012701 PHILADELPHIA
013 B022701 PA
013 B032701 19103
015 A002701 UMB BANK, N.A.
015 B002701 C
015 C012701 KANSAS CITY
015 C022701 MO
015 C032701 64106
015 E012701 X
024 002700 N
028 A012700 368
028 A022700 0
028 A032700 0
028 A042700 0
028 B012700 549
028 B022700 0
<PAGE> PAGE 45
028 B032700 0
028 B042700 0
028 C012700 3102
028 C022700 0
028 C032700 0
028 C042700 0
028 D012700 407
028 D022700 0
028 D032700 0
028 D042700 0
028 E012700 511
028 E022700 0
028 E032700 0
028 E042700 3
028 F012700 55
028 F022700 0
028 F032700 0
028 F042700 20
028 G012700 4992
028 G022700 0
028 G032700 0
028 G042700 23
028 H002700 0
029 002700 N
030 A002700 0
030 B002700 0.00
030 C002700 0.00
042 A002700 0
042 B002700 0
042 C002700 0
042 D002700 0
042 E002700 0
042 F002700 0
042 G002700 100
042 H002700 0
043 002700 3
044 002700 19
045 002700 Y
046 002700 N
047 002700 Y
048 002700 1.000
048 A012700 0
048 A022700 0.000
048 B012700 0
048 B022700 0.000
048 C012700 0
048 C022700 0.000
048 D012700 0
048 D022700 0.000
048 E012700 0
048 E022700 0.000
<PAGE> PAGE 46
048 F012700 0
048 F022700 0.000
048 G012700 0
048 G022700 0.000
048 H012700 0
048 H022700 0.000
048 I012700 0
048 I022700 0.000
048 J012700 0
048 J022700 0.000
048 K012700 0
048 K022700 0.000
049 002700 N
050 002700 N
051 002700 N
052 002700 N
053 A002700 Y
053 B002700 Y
058 A002700 N
059 002700 Y
060 A002700 Y
060 B002700 Y
061 002700 2500
066 A002700 Y
066 B002700 N
066 C002700 N
066 D002700 Y
066 E002700 N
066 F002700 N
066 G002700 N
067 002700 N
068 A002700 N
068 B002700 N
069 002700 N
070 A012700 Y
070 A022700 N
070 B012700 N
070 B022700 N
070 C012700 N
070 C022700 N
070 D012700 Y
070 D022700 N
070 E012700 N
070 E022700 N
070 F012700 Y
070 F022700 N
070 G012700 N
070 G022700 N
070 H012700 Y
070 H022700 N
070 I012700 N
<PAGE> PAGE 47
070 I022700 N
070 J012700 Y
070 J022700 N
070 K012700 Y
070 K022700 N
070 L012700 Y
070 L022700 N
070 M012700 Y
070 M022700 N
070 N012700 Y
070 N022700 N
070 O012700 Y
070 O022700 N
070 P012700 N
070 P022700 N
070 Q012700 N
070 Q022700 N
070 R012700 Y
070 R022700 N
071 A002700 7260
071 B002700 2503
071 C002700 3307
071 D002700 76
072 A002700 6
072 B002700 3
072 C002700 1
072 D002700 0
072 E002700 0
072 F002700 15
072 G002700 15
072 H002700 0
072 I002700 20
072 J002700 4
072 K002700 0
072 L002700 2
072 M002700 2
072 N002700 0
072 O002700 0
072 P002700 0
072 Q002700 10
072 R002700 7
072 S002700 2
072 T002700 3
072 U002700 0
072 V002700 0
072 W002700 2
072 X002700 82
072 Y002700 59
072 Z002700 -19
072AA002700 452
072BB002700 0
<PAGE> PAGE 48
072CC012700 752
072CC022700 0
072DD012700 0
072DD022700 0
072EE002700 0
073 A012700 0.0000
073 A022700 0.0000
073 B002700 0.0000
073 C002700 0.0000
074 A002700 0
074 B002700 0
074 C002700 169
074 D002700 0
074 E002700 0
074 F002700 5366
074 G002700 0
074 H002700 0
074 I002700 0
074 J002700 43
074 K002700 17
074 L002700 1
074 M002700 0
074 N002700 5596
074 O002700 18
074 P002700 3
074 Q002700 0
074 R012700 0
074 R022700 0
074 R032700 0
074 R042700 22
074 S002700 0
074 T002700 5553
074 U012700 475
074 U022700 0
074 V012700 11.70
074 V022700 0.00
074 W002700 0.0000
074 X002700 0
074 Y002700 0
075 A002700 0
075 B002700 2964
076 002700 0.00
008 A002801 DUNCAN-HURST CAPITAL MANAGEMENT, INC.
008 B002801 A
008 C002801 801-000000
008 D012801 SAN DIEGO
008 D022801 CA
008 D032801 92121
011 A002801 FIRST FUND DISTRIBUTORS, INC.
011 B002801 8-42809
011 C012801 PHOENIX
<PAGE> PAGE 49
011 C022801 AZ
011 C032801 85018
012 A002801 NATIONAL FINANCIAL DATA SERVICES
012 B002801 84-0000
012 C012801 KANSAS CITY
012 C022801 MO
012 C032801 64141
012 C042801 6284
013 A002801 TAIT, WELLER, & BAKER
013 B012801 PHILADELPHIA
013 B022801 PA
013 B032801 19103
015 A002801 UMB BANK, N.A.
015 B002801 C
015 C012801 KANSAS CITY
015 C022801 MO
015 C032801 64106
015 E012801 X
024 002800 N
028 A012800 201
028 A022800 0
028 A032800 0
028 A042800 0
028 B012800 38
028 B022800 0
028 B032800 0
028 B042800 0
028 C012800 246
028 C022800 0
028 C032800 0
028 C042800 0
028 D012800 13
028 D022800 0
028 D032800 0
028 D042800 0
028 E012800 15
028 E022800 0
028 E032800 0
028 E042800 0
028 F012800 40
028 F022800 0
028 F032800 0
028 F042800 13
028 G012800 553
028 G022800 0
028 G032800 0
028 G042800 13
028 H002800 0
029 002800 N
030 A002800 0
030 B002800 0.00
<PAGE> PAGE 50
030 C002800 0.00
042 A002800 0
042 B002800 0
042 C002800 0
042 D002800 0
042 E002800 0
042 F002800 0
042 G002800 100
042 H002800 0
043 002800 0
044 002800 22
045 002800 Y
046 002800 N
047 002800 Y
048 002800 1.000
048 A012800 0
048 A022800 0.000
048 B012800 0
048 B022800 0.000
048 C012800 0
048 C022800 0.000
048 D012800 0
048 D022800 0.000
048 E012800 0
048 E022800 0.000
048 F012800 0
048 F022800 0.000
048 G012800 0
048 G022800 0.000
048 H012800 0
048 H022800 0.000
048 I012800 0
048 I022800 0.000
048 J012800 0
048 J022800 0.000
048 K012800 0
048 K022800 0.000
049 002800 N
050 002800 N
051 002800 N
052 002800 N
053 A002800 Y
053 B002800 Y
058 A002800 N
059 002800 Y
060 A002800 N
060 B002800 N
061 002800 2500
066 A002800 Y
066 B002800 N
066 C002800 N
<PAGE> PAGE 51
066 D002800 Y
066 E002800 N
066 F002800 N
066 G002800 N
067 002800 N
068 A002800 N
068 B002800 N
069 002800 N
070 A012800 Y
070 A022800 N
070 B012800 N
070 B022800 N
070 C012800 N
070 C022800 N
070 D012800 Y
070 D022800 N
070 E012800 N
070 E022800 N
070 F012800 Y
070 F022800 N
070 G012800 N
070 G022800 N
070 H012800 Y
070 H022800 N
070 I012800 N
070 I022800 N
070 J012800 Y
070 J022800 N
070 K012800 Y
070 K022800 N
070 L012800 Y
070 L022800 N
070 M012800 Y
070 M022800 N
070 N012800 Y
070 N022800 N
070 O012800 Y
070 O022800 N
070 P012800 N
070 P022800 N
070 Q012800 N
070 Q022800 N
070 R012800 Y
070 R022800 N
071 A002800 969
071 B002800 456
071 C002800 390
071 D002800 117
072 A002800 6
072 B002800 1
072 C002800 0
<PAGE> PAGE 52
072 D002800 0
072 E002800 0
072 F002800 2
072 G002800 15
072 H002800 0
072 I002800 20
072 J002800 4
072 K002800 0
072 L002800 2
072 M002800 2
072 N002800 0
072 O002800 0
072 P002800 0
072 Q002800 10
072 R002800 7
072 S002800 2
072 T002800 0
072 U002800 0
072 V002800 0
072 W002800 2
072 X002800 66
072 Y002800 63
072 Z002800 -2
072AA002800 0
072BB002800 9
072CC012800 55
072CC022800 0
072DD012800 0
072DD022800 0
072EE002800 0
073 A012800 0.0000
073 A022800 0.0000
073 B002800 0.0000
073 C002800 0.0000
074 A002800 0
074 B002800 0
074 C002800 19
074 D002800 0
074 E002800 0
074 F002800 537
074 G002800 0
074 H002800 0
074 I002800 0
074 J002800 0
074 K002800 30
074 L002800 0
074 M002800 0
074 N002800 586
074 O002800 0
074 P002800 0
074 Q002800 0
<PAGE> PAGE 53
074 R012800 0
074 R022800 0
074 R032800 0
074 R042800 26
074 S002800 0
074 T002800 560
074 U012800 55
074 U022800 0
074 V012800 10.14
074 V022800 0.00
074 W002800 0.0000
074 X002800 27
074 Y002800 0
075 A002800 0
075 B002800 235
076 002800 0.00
008 A002901 DUNCAN-HURST CAPITAL MANAGEMENT INC.
008 B002901 A
008 C002901 801-000000
008 D012901 SAN DIEGO
008 D022901 CA
008 D032901 92121
011 A002901 FIRST FUND DISTRIBUTORS, INC.
011 B002901 8-42809
011 C012901 PHOENIX
011 C022901 AZ
011 C032901 85018
012 A002901 NATIONAL FINANCIAL DATA SERVICES
012 B002901 84-0000
012 C012901 KANSAS CITY
012 C022901 MO
012 C032901 64141
012 C042901 6284
015 A002901 UMB BANK, N.A.
015 B002901 C
015 C012901 KANSAS CITY
015 C022901 MO
015 C032901 64106
015 E012901 X
024 002900 N
028 A012900 0
028 A022900 0
028 A032900 0
028 A042900 0
028 B012900 0
028 B022900 0
028 B032900 0
028 B042900 0
028 C012900 0
028 C022900 0
028 C032900 0
<PAGE> PAGE 54
028 C042900 0
028 D012900 10210
028 D022900 0
028 D032900 0
028 D042900 0
028 E012900 606
028 E022900 0
028 E032900 0
028 E042900 0
028 F012900 8397
028 F022900 0
028 F032900 0
028 F042900 24
028 G012900 19213
028 G022900 0
028 G032900 0
028 G042900 24
028 H002900 0
029 002900 N
030 A002900 0
030 B002900 0.00
030 C002900 0.00
045 002900 Y
046 002900 N
047 002900 Y
048 002900 1.250
048 A012900 0
048 A022900 0.000
048 B012900 0
048 B022900 0.000
048 C012900 0
048 C022900 0.000
048 D012900 0
048 D022900 0.000
048 E012900 0
048 E022900 0.000
048 F012900 0
048 F022900 0.000
048 G012900 0
048 G022900 0.000
048 H012900 0
048 H022900 0.000
048 I012900 0
048 I022900 0.000
048 J012900 0
048 J022900 0.000
048 K012900 0
048 K022900 0.000
058 A002900 N
059 002900 Y
060 A002900 Y
<PAGE> PAGE 55
060 B002900 Y
061 002900 2500
066 A002900 Y
066 B002900 N
066 C002900 N
066 D002900 Y
066 E002900 N
066 F002900 N
066 G002900 N
067 002900 N
068 A002900 N
068 B002900 Y
069 002900 N
070 A012900 Y
070 A022900 N
070 B012900 N
070 B022900 N
070 C012900 N
070 C022900 N
070 D012900 Y
070 D022900 N
070 E012900 N
070 E022900 N
070 F012900 Y
070 F022900 N
070 G012900 Y
070 G022900 N
070 H012900 Y
070 H022900 N
070 I012900 Y
070 I022900 N
070 J012900 Y
070 J022900 N
070 K012900 Y
070 K022900 N
070 L012900 Y
070 L022900 Y
070 M012900 Y
070 M022900 Y
070 N012900 Y
070 N022900 N
070 O012900 Y
070 O022900 N
070 P012900 N
070 P022900 N
070 Q012900 N
070 Q022900 N
070 R012900 Y
070 R022900 N
071 A002900 24345
071 B002900 5695
<PAGE> PAGE 56
071 C002900 13655
071 D002900 42
072 A002900 3
072 B002900 12
072 C002900 14
072 D002900 0
072 E002900 0
072 F002900 42
072 G002900 15
072 H002900 0
072 I002900 14
072 J002900 8
072 K002900 0
072 L002900 2
072 M002900 2
072 N002900 9
072 O002900 0
072 P002900 0
072 Q002900 20
072 R002900 4
072 S002900 2
072 T002900 0
072 U002900 0
072 V002900 0
072 W002900 3
072 X002900 121
072 Y002900 70
072 Z002900 -25
072AA002900 807
072BB002900 0
072CC012900 1158
072CC022900 0
072DD012900 0
072DD022900 0
072EE002900 0
073 A012900 0.0000
073 A022900 0.0000
073 B002900 0.0000
073 C002900 0.0000
074 A002900 98
074 B002900 0
074 C002900 637
074 D002900 0
074 E002900 0
074 F002900 19633
074 G002900 0
074 H002900 0
074 I002900 0
074 J002900 0
074 K002900 0
074 L002900 15
<PAGE> PAGE 57
074 M002900 29
074 N002900 20412
074 O002900 199
074 P002900 0
074 Q002900 0
074 R012900 0
074 R022900 0
074 R032900 0
074 R042900 66
074 S002900 0
074 T002900 20147
074 U012900 1871
074 U022900 0
074 V012900 10.76
074 V022900 0.00
074 W002900 0.0000
074 X002900 18
074 Y002900 0
075 A002900 0
075 B002900 13371
076 002900 0.00
SIGNATURE ROBERT M SLOTKY
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811030
<NAME> PROFESSIONALLY MANAGED PORTFOLIOS
<SERIES>
<NUMBER> 1
<NAME> AVONDALE HESTER TOTAL RETURN FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-2000
<PERIOD-START> APR-01-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 6711731
<INVESTMENTS-AT-VALUE> 11609640
<RECEIVABLES> 53218
<ASSETS-OTHER> 5265
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 11668123
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 33466
<TOTAL-LIABILITIES> 33466
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 5495094
<SHARES-COMMON-STOCK> 287825
<SHARES-COMMON-PRIOR> 293528
<ACCUMULATED-NII-CURRENT> 34285
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1207369
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 4897909
<NET-ASSETS> 11634657
<DIVIDEND-INCOME> 63621
<INTEREST-INCOME> 33252
<OTHER-INCOME> 569
<EXPENSES-NET> 93993
<NET-INVESTMENT-INCOME> 3449
<REALIZED-GAINS-CURRENT> 748676
<APPREC-INCREASE-CURRENT> (93822)
<NET-CHANGE-FROM-OPS> 658303
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 12014
<NUMBER-OF-SHARES-REDEEMED> 17717
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 410160
<ACCUMULATED-NII-PRIOR> 30836
<ACCUMULATED-GAINS-PRIOR> 458693
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 41744
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 93993
<AVERAGE-NET-ASSETS> 11929117
<PER-SHARE-NAV-BEGIN> 38.24
<PER-SHARE-NII> 0.01
<PER-SHARE-GAIN-APPREC> 2.17
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 40.42
<EXPENSE-RATIO> 1.57
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811030
<NAME> PROFESSIONALLY MANAGED PORTFOLIOS
<SERIES>
<NUMBER> 2
<NAME> HODGES FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-2000
<PERIOD-START> APR-01-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 29165555
<INVESTMENTS-AT-VALUE> 31764027
<RECEIVABLES> 28959
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 24407
<TOTAL-ASSETS> 31817393
<PAYABLE-FOR-SECURITIES> 154125
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1041360
<TOTAL-LIABILITIES> 1195485
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 25653889
<SHARES-COMMON-STOCK> 2127186
<SHARES-COMMON-PRIOR> 2115371
<ACCUMULATED-NII-CURRENT> (33623)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2403170
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2598472
<NET-ASSETS> 30621908
<DIVIDEND-INCOME> 240172
<INTEREST-INCOME> 35315
<OTHER-INCOME> 0
<EXPENSES-NET> 309110
<NET-INVESTMENT-INCOME> (33623)
<REALIZED-GAINS-CURRENT> 2606096
<APPREC-INCREASE-CURRENT> (7456683)
<NET-CHANGE-FROM-OPS> (4884210)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 358153
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 197987
<NUMBER-OF-SHARES-REDEEMED> 186171
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (4892575)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 155227
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 150184
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 309110
<AVERAGE-NET-ASSETS> 35310625
<PER-SHARE-NAV-BEGIN> 16.79
<PER-SHARE-NII> (0.07)
<PER-SHARE-GAIN-APPREC> (2.32)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.40
<EXPENSE-RATIO> 1.75
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811030
<NAME> PROFESSIONALLY MANAGED PORTFOLIOS
<SERIES>
<NUMBER> 3
<NAME> PERKINS OPPORTUNITY FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-2000
<PERIOD-START> APR-01-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 39243391
<INVESTMENTS-AT-VALUE> 28216815
<RECEIVABLES> 42216
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 22968
<TOTAL-ASSETS> 28281999
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 429826
<TOTAL-LIABILITIES> 429826
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 54183736
<SHARES-COMMON-STOCK> 2268461
<SHARES-COMMON-PRIOR> 2681396
<ACCUMULATED-NII-CURRENT> (245117)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (15059870)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (11026576)
<NET-ASSETS> 27852173
<DIVIDEND-INCOME> 59296
<INTEREST-INCOME> 11270
<OTHER-INCOME> 0
<EXPENSES-NET> 315683
<NET-INVESTMENT-INCOME> (245117)
<REALIZED-GAINS-CURRENT> (65445)
<APPREC-INCREASE-CURRENT> 1601155
<NET-CHANGE-FROM-OPS> 1290593
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 77399
<NUMBER-OF-SHARES-REDEEMED> 490334
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (3922227)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (14994425)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 154094
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 315683
<AVERAGE-NET-ASSETS> 30797278
<PER-SHARE-NAV-BEGIN> 11.85
<PER-SHARE-NII> (0.11)
<PER-SHARE-GAIN-APPREC> 0.54
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.28
<EXPENSE-RATIO> 2.05
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811030
<NAME> PROFESSIONALLY MANAGED PORTFOLIOS
<SERIES>
<NUMBER> 5
<NAME> PRO CONSCIENCE WOMEN'S EQUITY MUTUAL FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-2000
<PERIOD-START> APR-01-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 7416022
<INVESTMENTS-AT-VALUE> 10126978
<RECEIVABLES> 17459
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 117612
<TOTAL-ASSETS> 10262049
<PAYABLE-FOR-SECURITIES> 53175
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 23363
<TOTAL-LIABILITIES> 76538
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 7133467
<SHARES-COMMON-STOCK> 534770
<SHARES-COMMON-PRIOR> 491186
<ACCUMULATED-NII-CURRENT> (24032)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 365120
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2710956
<NET-ASSETS> 10185511
<DIVIDEND-INCOME> 54612
<INTEREST-INCOME> 3500
<OTHER-INCOME> 0
<EXPENSES-NET> 80235
<NET-INVESTMENT-INCOME> (22123)
<REALIZED-GAINS-CURRENT> 19269
<APPREC-INCREASE-CURRENT> (468051)
<NET-CHANGE-FROM-OPS> (470905)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 64846
<NUMBER-OF-SHARES-REDEEMED> 21262
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 429123
<ACCUMULATED-NII-PRIOR> (1909)
<ACCUMULATED-GAINS-PRIOR> 345851
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 53490
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 130746
<AVERAGE-NET-ASSETS> 10697453
<PER-SHARE-NAV-BEGIN> 19.86
<PER-SHARE-NII> (0.04)
<PER-SHARE-GAIN-APPREC> (0.77)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 19.05
<EXPENSE-RATIO> 1.50
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811030
<NAME> PROFESSIONALLY MANAGED PORTFOLIOS
<SERIES>
<NUMBER> 6
<NAME> THE OSTERWEIS FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-2000
<PERIOD-START> APR-01-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 22344776
<INVESTMENTS-AT-VALUE> 33082556
<RECEIVABLES> 22460
<ASSETS-OTHER> 670
<OTHER-ITEMS-ASSETS> 154
<TOTAL-ASSETS> 33105840
<PAYABLE-FOR-SECURITIES> 500000
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 70917
<TOTAL-LIABILITIES> 570917
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 18911631
<SHARES-COMMON-STOCK> 1603422
<SHARES-COMMON-PRIOR> 1398520
<ACCUMULATED-NII-CURRENT> (94967)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2980479
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 10737780
<NET-ASSETS> 32534923
<DIVIDEND-INCOME> 77812
<INTEREST-INCOME> 91793
<OTHER-INCOME> 12885
<EXPENSES-NET> 277457
<NET-INVESTMENT-INCOME> (94967)
<REALIZED-GAINS-CURRENT> 1538468
<APPREC-INCREASE-CURRENT> 1889931
<NET-CHANGE-FROM-OPS> 3333432
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 281590
<NUMBER-OF-SHARES-REDEEMED> 76688
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 7409280
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1442011
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 158403
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 240448
<AVERAGE-NET-ASSETS> 31721052
<PER-SHARE-NAV-BEGIN> 17.97
<PER-SHARE-NII> (0.06)
<PER-SHARE-GAIN-APPREC> 2.38
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 20.29
<EXPENSE-RATIO> 1.75
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811030
<NAME> PROFESSIONALLY MANAGED PORTFOLIOS
<SERIES>
<NUMBER> 19
<NAME> HARRIS BRETALL SULLIVAN & SMITH GROWTH EQUITY FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-2000
<PERIOD-START> APR-01-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 14109698
<INVESTMENTS-AT-VALUE> 18213614
<RECEIVABLES> 22299
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 445
<TOTAL-ASSETS> 18236358
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 37600
<TOTAL-LIABILITIES> 37600
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 12594297
<SHARES-COMMON-STOCK> 933952
<SHARES-COMMON-PRIOR> 845801
<ACCUMULATED-NII-CURRENT> (53186)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1553731
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 4103916
<NET-ASSETS> 18198758
<DIVIDEND-INCOME> 51877
<INTEREST-INCOME> 10179
<OTHER-INCOME> 0
<EXPENSES-NET> 115242
<NET-INVESTMENT-INCOME> (53186)
<REALIZED-GAINS-CURRENT> 1105139
<APPREC-INCREASE-CURRENT> (1737161)
<NET-CHANGE-FROM-OPS> (685208)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 253096
<NUMBER-OF-SHARES-REDEEMED> 164945
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 1081743
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 448592
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 67001
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 156932
<AVERAGE-NET-ASSETS> 17872827
<PER-SHARE-NAV-BEGIN> 20.24
<PER-SHARE-NII> (0.06)
<PER-SHARE-GAIN-APPREC> (0.69)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 19.49
<EXPENSE-RATIO> 1.29
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811030
<NAME> PROFESSIONALLY MANAGED PORTFOLIOS
<SERIES>
<NUMBER> 23
<NAME> PERKINS DISCOVERY FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-2000
<PERIOD-START> APR-01-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 918604
<INVESTMENTS-AT-VALUE> 947578
<RECEIVABLES> 9960
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 11329
<TOTAL-ASSETS> 968867
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 34062
<TOTAL-LIABILITIES> 34062
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 715881
<SHARES-COMMON-STOCK> 45515
<SHARES-COMMON-PRIOR> 45918
<ACCUMULATED-NII-CURRENT> (9379)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 199329
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 28974
<NET-ASSETS> 934805
<DIVIDEND-INCOME> 675
<INTEREST-INCOME> 727
<OTHER-INCOME> 0
<EXPENSES-NET> 10781
<NET-INVESTMENT-INCOME> (9379)
<REALIZED-GAINS-CURRENT> 200530
<APPREC-INCREASE-CURRENT> (45535)
<NET-CHANGE-FROM-OPS> 145616
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2637
<NUMBER-OF-SHARES-REDEEMED> 3040
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 138030
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (1201)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4312
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 76108
<AVERAGE-NET-ASSETS> 860876
<PER-SHARE-NAV-BEGIN> 17.35
<PER-SHARE-NII> (0.21)
<PER-SHARE-GAIN-APPREC> 3.40
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 20.54
<EXPENSE-RATIO> 2.50
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811030
<NAME> PROFESSIONALLY MANAGED PORTFOLIOS
<SERIES>
<NUMBER> 26
<NAME> JAMES C. EDWARDS EQUITY MASTERS FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-2000
<PERIOD-START> APR-01-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 1531467
<INVESTMENTS-AT-VALUE> 1462002
<RECEIVABLES> 44119
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 5391
<TOTAL-ASSETS> 1511512
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 26464
<TOTAL-LIABILITIES> 26464
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1578570
<SHARES-COMMON-STOCK> 157965
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 6547
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (30604)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (69465)
<NET-ASSETS> 1485048
<DIVIDEND-INCOME> 2226
<INTEREST-INCOME> 13972
<OTHER-INCOME> 0
<EXPENSES-NET> 9651
<NET-INVESTMENT-INCOME> 6547
<REALIZED-GAINS-CURRENT> (30604)
<APPREC-INCREASE-CURRENT> (69465)
<NET-CHANGE-FROM-OPS> (93522)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 157965
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 1485048
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4825
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 55882
<AVERAGE-NET-ASSETS> 1292618
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.04
<PER-SHARE-GAIN-APPREC> (0.64)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.40
<EXPENSE-RATIO> 1.50
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811030
<NAME> PROFESSIONALLY MANAGED PORTFOLIOS
<SERIES>
<NUMBER> 27
<NAME> DUNCAN-HURST AGGRESSIVE GROWTH FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-2000
<PERIOD-START> APR-01-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 4783219
<INVESTMENTS-AT-VALUE> 5534841
<RECEIVABLES> 60787
<ASSETS-OTHER> 103
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 5595731
<PAYABLE-FOR-SECURITIES> 17779
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 25429
<TOTAL-LIABILITIES> 43208
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4969192
<SHARES-COMMON-STOCK> 474619
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (18728)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (149563)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 751622
<NET-ASSETS> 5552523
<DIVIDEND-INCOME> 1009
<INTEREST-INCOME> 3168
<OTHER-INCOME> 0
<EXPENSES-NET> 22905
<NET-INVESTMENT-INCOME> (18728)
<REALIZED-GAINS-CURRENT> 452796
<APPREC-INCREASE-CURRENT> 751622
<NET-CHANGE-FROM-OPS> 583331
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 476538
<NUMBER-OF-SHARES-REDEEMED> 1919
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 5552523
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 14718
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 82021
<AVERAGE-NET-ASSETS> 2964323
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> (0.04)
<PER-SHARE-GAIN-APPREC> 1.74
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.70
<EXPENSE-RATIO> 1.56
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811030
<NAME> PROFESSIONALLY MANAGED PORTFOLIOS
<SERIES>
<NUMBER> 28
<NAME> DUNCAN-HURST LARGE CAP GROWTH-20 FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-2000
<PERIOD-START> APR-01-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 500411
<INVESTMENTS-AT-VALUE> 555836
<RECEIVABLES> 30652
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 586488
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 26264
<TOTAL-LIABILITIES> 26264
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 539575
<SHARES-COMMON-STOCK> 55273
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (2418)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (32359)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 55426
<NET-ASSETS> 560224
<DIVIDEND-INCOME> 226
<INTEREST-INCOME> 472
<OTHER-INCOME> 0
<EXPENSES-NET> 3116
<NET-INVESTMENT-INCOME> (2418)
<REALIZED-GAINS-CURRENT> (9292)
<APPREC-INCREASE-CURRENT> 55426
<NET-CHANGE-FROM-OPS> 20649
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 56564
<NUMBER-OF-SHARES-REDEEMED> 1291
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 560224
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1902
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 66001
<AVERAGE-NET-ASSETS> 234985
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> (0.04)
<PER-SHARE-GAIN-APPREC> 0.18
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.14
<EXPENSE-RATIO> 1.64
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811030
<NAME> PROFESSIONALLY MANAGED PORTFOLIOS
<SERIES>
<NUMBER> 29
<NAME> DUNCAN-HURST INTERNATIONAL GROWTH FUND
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> MAR-31-2000
<PERIOD-START> JUN-30-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 19111324
<INVESTMENTS-AT-VALUE> 20270496
<RECEIVABLES> 14371
<ASSETS-OTHER> 28462
<OTHER-ITEMS-ASSETS> 98278
<TOTAL-ASSETS> 20411607
<PAYABLE-FOR-SECURITIES> 198461
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 65889
<TOTAL-LIABILITIES> 264350
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 19189463
<SHARES-COMMON-STOCK> 92916
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (24663)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (175083)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1157540
<NET-ASSETS> 20147257
<DIVIDEND-INCOME> 13904
<INTEREST-INCOME> 11932
<OTHER-INCOME> 36
<EXPENSES-NET> 50535
<NET-INVESTMENT-INCOME> (24663)
<REALIZED-GAINS-CURRENT> 807374
<APPREC-INCREASE-CURRENT> 1157540
<NET-CHANGE-FROM-OPS> 957794
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 94900
<NUMBER-OF-SHARES-REDEEMED> 1984
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 20147257
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 42188
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 121184
<AVERAGE-NET-ASSETS> 13370508
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> (0.01)
<PER-SHARE-GAIN-APPREC> 0.83
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.82
<EXPENSE-RATIO> 1.74
</TABLE>
