000 A000000 06/30/95
000 C000000 0000867575
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 THE FAHNESTOCK FUNDS
001 B000000 811-6166
001 C000000 2126685770
002 A000000 110 WALL STREET
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10005
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 1
007 C010100 1
007 C020100 HUDSON CAPITAL APPRECIATION 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
008 A00AA01 HUDSON CAPITAL ADVISORS INC.
008 B00AA01 A
008 C00AA01 801-31427
008 D01AA01 NEW YORK
008 D02AA01 NY
008 D03AA01 10022
010 A00AA01 FAHNESTOCK & CO. INC.
010 B00AA01 81-04077
010 C01AA01 NEW YORK
010 C02AA01 NY
010 C03AA01 10005
011 A00AA01 FAHNESTOCK & CO. INC.
011 B00AA01 8-04077
011 C01AA01 NEW YORK
011 C02AA01 NY
011 C03AA01 10005
012 A00AA01 INVESTORS FIDUCIARY TRUST CO.
012 B00AA01 85-00535
012 C01AA01 KANSAS CITY
012 C02AA01 MO
012 C03AA01 64105
013 A00AA01 COOPERS & LYBRAND LLP
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10019
014 A00AA01 FAHNESTOCK & CO. INC.
014 B00AA01 8-04077
015 A00AA01 INVESTORS FIDUCIARY TRUST CO.
015 B00AA01 C
015 C01AA01 KANSAS CITY
015 C02AA01 MO
015 C03AA01 64105
015 E01AA01 X
018 00AA00 Y
019 A00AA00 N
019 B00AA00 0
019 C00AA00 FAHNESTOCK
020 A000001 PAINE WEBBER INC.
020 B000001 13-2638166
020 C000001 19
020 A000002 SANFORD C. BERNSTEIN
020 B000002 13-2625874
020 C000002 8
020 A000003 S.P. SECURITIES
020 C000003 6
020 A000004 FAHNESTOCK & CO., INC.
020 B000004 13-5657518
020 C000004 4
020 A000005 CANTOR & WEISS INC,
020 B000005 13-3521638
020 C000005 3
020 A000006 BUCKINGHAM REASEARCH GROUP INC. (THE)
020 B000006 13-3134008
020 C000006 3
020 A000007 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
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020 C000007 3
020 A000008 SALOMON BROTHERS, INC.
020 B000008 13-3082694
020 C000008 2
020 A000009 MONTGOMERY SECURITIES
020 B000009 94-1701676
020 C000009 1
020 A000010 NEUBERGER & BERMAN
020 B000010 13-5521910
020 C000010 1
021 000000 53
022 A000001 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
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022 C000001 0
022 D000001 1143
022 A000002 WERTHEIM SCHROEDER & CO, INCORPORATED
022 B000002 13-2697271
022 C000002 401
022 D000002 387
022 A000003 MORGAN STANLEY & CO. INCORPORATED
022 B000003 13-2655998
022 C000003 490
022 D000003 263
022 A000004 ROBERTSON, STEPHENS & COMPANY, L.P.
022 B000004 94-2524501
022 C000004 408
022 D000004 283
022 A000005 LEHMAN BROTHERS INC.
022 B000005 13-2518466
022 C000005 478
022 D000005 0
022 A000006 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
022 B000006 13-2741729
022 C000006 0
022 D000006 457
022 A000007 GOLDMAN, SACHS & CO.
022 B000007 13-5108880
022 C000007 0
022 D000007 394
022 A000008 MONTGOMERY SECURITIES
022 B000008 94-1701676
022 C000008 157
022 D000008 157
022 A000009 ROBERTSON-HUMPHREY COMPANY, INC. (THE)
022 B000009 58-1472560
022 C000009 0
022 D000009 282
022 A000010 WHEAT, FIRST SECURITIES, INC.
022 B000010 54-0796506
022 C000010 157
022 D000010 0
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023 D000000 3518
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SIGNATURE CHARLES PADGETT
TITLE SECRETARY
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND> The schedule contains summary financial information
extracted from the financial statements and supporting
schedules as of the end of the most current period and is
qualified in its entirety by reference to such financial
statements.
</LEGEND>
<CIK> 0000867575
<NAME> The Fahnestock Funds
<SERIES>
<NUMBER> 1
<NAME> Hudson Capital Appreciation Fund
<S> <C>
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> JAN-01-1995
<PERIOD-END> JUN-30-1995
<PERIOD-TYPE> YEAR
<INVESTMENTS-AT-COST> 14208819
<INVESTMENTS-AT-VALUE> 15464077
<RECEIVABLES> 43726
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 15700
<TOTAL-ASSETS> 15523503
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 354219
<TOTAL-LIABILITIES> 354219
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 13247198
<SHARES-COMMON-STOCK> 1247509
<SHARES-COMMON-PRIOR> 1449881
<ACCUMULATED-NII-CURRENT> 14355
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 720973
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1255258
<NET-ASSETS> 15169284
<DIVIDEND-INCOME> 87959
<INTEREST-INCOME> 119432
<OTHER-INCOME> 0
<EXPENSES-NET> 193036
<NET-INVESTMENT-INCOME> 14355
<REALIZED-GAINS-CURRENT> 652473
<APPREC-INCREASE-CURRENT> 930698
<NET-CHANGE-FROM-OPS> 1597526
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 48312
<NUMBER-OF-SHARES-REDEEMED> 250684
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (704572)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 68500
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 77168
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 259066
<AVERAGE-NET-ASSETS> 15891203
<PER-SHARE-NAV-BEGIN> 10.95
<PER-SHARE-NII> .01
<PER-SHARE-GAIN-APPREC> 1.20
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.16
<EXPENSE-RATIO> 2.50
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
