<PAGE> PAGE 1
000 A000000 06/30/97
000 C000000 0000867575
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
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
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004 000000 N
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007 C020100 HUDSON CAPITAL APPRECIATION FUND
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007 C010300 3
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007 C010800 8
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007 C011000 10
020 A000001 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
020 B000001 13-5674085
020 C000001 5
020 A000002 BURNHAM SECURITIES, INC.
020 B000002 13-3435435
020 C000002 3
020 A000003 LEHMAN BROTHERS, INC.
020 B000003 13-2518466
020 C000003 2
020 A000004 JOSEPHTHAL LYON & ROSS, INC.
020 B000004 13-2948997
020 C000004 1
020 A000005 TUCKER ANTHONY, INC.
020 B000005 04-2566229
020 C000005 1
020 A000006 PRINCIPAL FINANCIAL
020 B000006 75-0839696
<PAGE> PAGE 2
020 C000006 1
020 A000007 SMITH BARNEY, INC.
020 B000007 13-1912900
020 C000007 1
020 A000008 R.W. BAIRD
020 B000008 39-6037917
020 C000008 1
020 A000009 JANNEY MONTGOMERY SCOTT, INC.
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022 B000002 64-0474907
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<PAGE> PAGE 3
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<PAGE> PAGE 4
012 C010101 KANSAS CITY
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015 C020101 MO
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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SIGNATURE RUSSELL L. POLLACK
TITLE SECRETARY
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<SERIES>
<NUMBER> 011
<NAME> The Fahnestock Funds
Hudson Capital Appreciation Fund
Class A Shares
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Hudson Capital Appreciation Fund
Class B Shares
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Hudson Capital Appreciation Fund
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