<PAGE> PAGE 1
000 B000000 03/31/1999
000 C000000 0000869351
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 NOTTINGHAM INVESTMENT TRUST II
001 B000000 811-06199
001 C000000 2529729922
002 A000000 105 N WASHINGTON STREET
002 B000000 ROCKY MOUNT
002 C000000 NC
002 D010000 27802
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 6
007 C010100 1
007 C020100 CAPITAL VALUE FUND
007 C030100 N
007 C010200 2
007 C020200 INVESTEK FIXED INCOME TRUST
007 C030200 N
007 C010300 3
007 C020300 BROWN EQUITY FUND
007 C030300 N
007 C010400 4
007 C020400 BROWN BALANCED FUND
007 C030400 N
007 C010500 5
007 C020500 BROWN SMALL COMPANY FUND
007 C030500 N
007 C010600 6
007 C020600 WST GROWTH & INCOME FUND
007 C030600 N
007 C010700 7
007 C020700 ZSA ASSET ALLOCATION FUND
007 C030700 Y
007 C010800 8
007 C010900 9
007 C011000 10
010 A00AA01 NOTTINGHAM FUND ADMINISTRATORS
010 C01AA01 ROCKY MOUNT
010 C02AA01 NC
010 C03AA01 27802
010 C04AA01 0069
<PAGE> PAGE 2
011 A00AA01 CAPITAL INVESTMENT GROUP
011 B00AA01 8-14752
011 C01AA01 RALEIGH
011 C02AA01 NC
011 C03AA01 27603
012 A00AA01 NC SHAREHOLDER SERVICES
012 B00AA01 84-5687
012 C01AA01 ROCKY MOUNT
012 C02AA01 NC
012 C03AA01 27803
013 A00AA01 DELOITTE & TOUCHE
013 B01AA01 PITTSBURGH
013 B02AA01 PA
013 B03AA01 15222
015 A00AA01 FIRST UNION NATIONAL BANK OF NORTH CAROLINA
015 B00AA01 C
015 C01AA01 CHARLOTTE
015 C02AA01 NC
015 C03AA01 28203
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 7
019 C00AA00 NOTTINGHA2
020 A000001 JW CHARLES
020 C000001 34
020 A000002 ROBINSON HUMPHREY
020 C000002 10
020 A000003 MESIROW
020 C000003 9
020 A000004 COWEN
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020 A000005 BEAR STEARNS
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<PAGE> PAGE 3
022 D000006 0
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028 F02AA00 63
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028 G01AA00 24984
028 G02AA00 1657
028 G03AA00 0
028 G04AA00 8392
028 H00AA00 1167
<PAGE> PAGE 4
029 00AA00 Y
030 A00AA00 58
030 B00AA00 4.50
030 C00AA00 0.00
031 A00AA00 3
031 B00AA00 0
032 00AA00 55
033 00AA00 0
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041 00AA00 Y
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044 00AA00 0
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050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 Y
053 B00AA00 Y
053 C00AA00 N
054 A00AA00 Y
054 B00AA00 Y
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
<PAGE> PAGE 5
057 00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 2000
071 A00AA00 49432
071 B00AA00 31514
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072 L00AA00 23
072 M00AA00 27
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072 R00AA00 71
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072 U00AA00 8
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072 W00AA00 88
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072 Y00AA00 304
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074 D00AA00 14898
<PAGE> PAGE 6
074 E00AA00 0
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074 W00AA00 0.0000
074 X00AA00 1209
074 Y00AA00 79985
077 A000000 Y
077 B000000 Y
077 Q010000 Y
080 A00AA00 GREAT AMERICAN
080 C00AA00 3000
081 A00AA00 Y
081 B00AA00 15
082 A00AA00 N
082 B00AA00 0
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
086 A010000 0
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<PAGE> PAGE 7
086 F010000 0
086 F020000 0
008 A000101 CAPITAL INVESTMENT COUNSEL
008 B000101 A
008 C000101 801-20824
008 D010101 RALEIGH
008 D020101 NC
008 D030101 27603
014 A000101 CAPITAL INVESTMENT GROUP
014 B000101 8-14752
045 000100 Y
046 000100 N
047 000100 Y
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048 E020100 0.000
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048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 0
048 K020100 0.000
062 A000100 N
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062 C000100 0.0
062 D000100 0.0
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 0.0
062 N000100 0.0
062 O000100 0.0
<PAGE> PAGE 8
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
066 A000100 Y
066 B000100 N
066 C000100 N
066 D000100 N
066 E000100 N
066 F000100 N
066 G000100 Y
067 000100 Y
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
070 A020100 N
070 B010100 Y
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 Y
070 J020100 N
070 K010100 Y
070 K020100 Y
070 L010100 Y
070 L020100 Y
070 M010100 N
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 Y
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
008 A000201 INVESTEK CAPITAL MANAGEMENT
<PAGE> PAGE 9
008 B000201 A
008 C000201 801-34673
008 D010201 JACKSON
008 D020201 MS
008 D030201 39201
045 000200 Y
046 000200 N
047 000200 Y
048 000200 0.450
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
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
062 A000200 Y
062 B000200 0.0
062 C000200 0.0
062 D000200 0.0
062 E000200 0.0
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
062 I000200 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 0.0
062 N000200 75.4
062 O000200 0.0
062 P000200 17.3
062 Q000200 5.0
062 R000200 2.3
063 A000200 0
063 B000200 4.6
<PAGE> PAGE 10
064 A000200 N
064 B000200 N
070 A010200 Y
070 A020200 N
070 B010200 N
070 B020200 N
070 C010200 N
070 C020200 N
070 D010200 N
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
070 K020200 Y
070 L010200 N
070 L020200 N
070 M010200 N
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 Y
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
008 A000301 BROWN CAPITAL MANAGEMENT
008 B000301 A
008 C000301 801-19287
008 D010301 BALTIMORE
008 D020301 MD
008 D030301 20201
045 000300 Y
046 000300 N
047 000300 Y
048 000300 0.000
048 A010300 25000
048 A020300 0.650
048 B010300 0
<PAGE> PAGE 11
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 25000
048 K020300 0.500
062 A000300 N
062 B000300 0.0
062 C000300 0.0
062 D000300 0.0
062 E000300 0.0
062 F000300 0.0
062 G000300 0.0
062 H000300 0.0
062 I000300 0.0
062 J000300 0.0
062 K000300 0.0
062 L000300 0.0
062 M000300 0.0
062 N000300 0.0
062 O000300 0.0
062 P000300 0.0
062 Q000300 0.0
062 R000300 0.0
066 A000300 Y
066 B000300 N
066 C000300 Y
066 D000300 N
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 N
070 B010300 Y
<PAGE> PAGE 12
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 Y
070 L010300 Y
070 L020300 N
070 M010300 N
070 M020300 N
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 Y
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
008 A000401 BROWN CAPITAL MANAGEMENT
008 B000401 A
008 C000401 801-19287
008 D010401 BALTIMORE
008 D020401 MD
008 D030401 20201
045 000400 Y
046 000400 N
047 000400 Y
048 000400 0.000
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048 A020400 0.650
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048 C010400 0
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<PAGE> PAGE 13
048 E010400 0
048 E020400 0.000
048 F010400 0
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048 G010400 0
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048 H010400 0
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048 I010400 0
048 I020400 0.000
048 J010400 0
048 J020400 0.000
048 K010400 25000
048 K020400 0.500
062 A000400 N
062 B000400 0.0
062 C000400 0.0
062 D000400 0.0
062 E000400 0.0
062 F000400 0.0
062 G000400 0.0
062 H000400 0.0
062 I000400 0.0
062 J000400 0.0
062 K000400 0.0
062 L000400 0.0
062 M000400 0.0
062 N000400 0.0
062 O000400 0.0
062 P000400 0.0
062 Q000400 0.0
062 R000400 0.0
066 A000400 Y
066 B000400 N
066 C000400 N
066 D000400 N
066 E000400 N
066 F000400 N
066 G000400 Y
067 000400 Y
068 A000400 N
068 B000400 N
069 000400 N
070 A010400 Y
070 A020400 N
070 B010400 Y
070 B020400 N
070 C010400 N
070 C020400 N
070 D010400 N
070 D020400 N
<PAGE> PAGE 14
070 E010400 N
070 E020400 N
070 F010400 N
070 F020400 N
070 G010400 N
070 G020400 N
070 H010400 N
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
070 K020400 Y
070 L010400 Y
070 L020400 N
070 M010400 N
070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 Y
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
008 A000501 BROWN CAPITAL MANAGEMENT
008 B000501 A
008 C000501 801-19287
008 D010501 BALTIMORE
008 D020501 MD
008 D030501 20201
045 000500 Y
046 000500 N
047 000500 Y
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048 D010500 0
048 D020500 0.000
048 E010500 0
048 E020500 0.000
048 F010500 0
048 F020500 0.000
048 G010500 0
<PAGE> PAGE 15
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
062 A000500 N
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062 C000500 0.0
062 D000500 0.0
062 E000500 0.0
062 F000500 0.0
062 G000500 0.0
062 H000500 0.0
062 I000500 0.0
062 J000500 0.0
062 K000500 0.0
062 L000500 0.0
062 M000500 0.0
062 N000500 0.0
062 O000500 0.0
062 P000500 0.0
062 Q000500 0.0
062 R000500 0.0
066 A000500 Y
066 B000500 N
066 C000500 Y
066 D000500 N
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 N
070 B010500 Y
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 N
<PAGE> PAGE 16
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 Y
070 L010500 Y
070 L020500 N
070 M010500 N
070 M020500 N
070 N010500 Y
070 N020500 N
070 O010500 Y
070 O020500 N
070 P010500 Y
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 N
070 R020500 N
008 A000601 WILBANKS SMITH & THOMAS
008 B000601 A
008 C000601 801-25252
008 D010601 NORFOLK
008 D020601 VA
008 D030601 28282
045 000600 Y
046 000600 N
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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
<PAGE> PAGE 17
048 J010600 0
048 J020600 0.000
048 K010600 250000
048 K020600 0.650
062 A000600 N
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062 C000600 0.0
062 D000600 0.0
062 E000600 0.0
062 F000600 0.0
062 G000600 0.0
062 H000600 0.0
062 I000600 0.0
062 J000600 0.0
062 K000600 0.0
062 L000600 0.0
062 M000600 0.0
062 N000600 0.0
062 O000600 0.0
062 P000600 0.0
062 Q000600 0.0
062 R000600 0.0
066 A000600 Y
066 B000600 N
066 C000600 N
066 D000600 N
066 E000600 Y
066 F000600 N
066 G000600 N
067 000600 Y
068 A000600 N
068 B000600 N
069 000600 N
070 A010600 Y
070 A020600 N
070 B010600 Y
070 B020600 N
070 C010600 N
070 C020600 N
070 D010600 N
070 D020600 N
070 E010600 N
070 E020600 N
070 F010600 N
070 F020600 N
070 G010600 N
070 G020600 N
070 H010600 N
070 H020600 N
070 I010600 N
070 I020600 N
<PAGE> PAGE 18
070 J010600 Y
070 J020600 N
070 K010600 Y
070 K020600 Y
070 L010600 Y
070 L020600 N
070 M010600 N
070 M020600 N
070 N010600 Y
070 N020600 N
070 O010600 Y
070 O020600 N
070 P010600 N
070 P020600 N
070 Q010600 N
070 Q020600 N
070 R010600 N
070 R020600 N
008 A000701 ZASKE SARAFA & ASSOCIATES
008 B000701 A
008 C000701 801-32202
008 D010701 BLOOMFIELD HILLS
008 D020701 MI
008 D030701 48304
062 A000700 N
062 B000700 0.0
062 C000700 0.0
062 D000700 0.0
062 E000700 0.0
062 F000700 0.0
062 G000700 0.0
062 H000700 0.0
062 I000700 0.0
062 J000700 0.0
062 K000700 0.0
062 L000700 0.0
062 M000700 0.0
062 N000700 0.0
062 O000700 0.0
062 P000700 0.0
062 Q000700 0.0
062 R000700 0.0
066 A000700 Y
066 B000700 N
066 C000700 N
066 D000700 N
066 E000700 N
066 F000700 N
066 G000700 Y
067 000700 Y
068 A000700 N
<PAGE> PAGE 19
068 B000700 N
069 000700 N
070 A010700 Y
070 A020700 N
070 B010700 Y
070 B020700 N
070 C010700 N
070 C020700 N
070 D010700 N
070 D020700 N
070 E010700 N
070 E020700 N
070 F010700 N
070 F020700 N
070 G010700 N
070 G020700 N
070 H010700 N
070 H020700 N
070 I010700 N
070 I020700 N
070 J010700 Y
070 J020700 N
070 K010700 Y
070 K020700 Y
070 L010700 Y
070 L020700 Y
070 M010700 N
070 M020700 N
070 N010700 Y
070 N020700 N
070 O010700 Y
070 O020700 N
070 P010700 Y
070 P020700 N
070 Q010700 N
070 Q020700 N
070 R010700 N
070 R020700 N
SIGNATURE C FRANK WATSON III
TITLE SECRETARY
INDEPENDENT AUDITORS' REPORT
To the Board of Trustees and Shareholders of
The Nottingham Investment Trust II:
In planning and performing our audits of the financial statements of The
Nottingham Investment Trust II ("the Trust"), (comprised of The Brown Capital
Management Equity Fund, The Brown Capital Management Balanced Fund, The Brown
Capital Management Small Company Fund, Investek Fixed Income Trust, Capital
Value Fund, and WST Growth & Income Fund), for the year ended March 31, 1999 (on
which we have issued our reports dated April 23, 1999), we considered its
internal control, including control activities for safeguarding securities, in
order to determine our auditing procedures for the purpose of expressing our
opinion on the financial statements and to comply with the requirements of Form
N-SAR, and not to provide assurance on the Trust's internal control.
The management of the Trust is responsible for establishing and maintaining
internal control. In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and related costs of
controls. Generally, controls that are relevant to an audit pertain to the
entity's objective of preparing financial statements for external purposes that
are fairly presented in conformity with generally accepted accounting
principles. Those controls include the safeguarding of assets against
unauthorized acquisition, use, or disposition.
Because of inherent limitations in internal control, misstatements due to error
or fraud may occur and not be detected. Also, projections of any evaluation of
internal control to future periods are subject to the risk that the internal
control may become inadequate because of changes in conditions or that the
degree of compliance with policies or procedures may deteriorate.
Our consideration of the Trust's internal control would not necessarily disclose
all matters in internal control that might be material weaknesses under
standards established by the American Institute of Certified Public Accountants.
A material weakness is a condition in which the design or operation of one or
more of the internal control components does not reduce to a relatively low
level the risk that misstatements caused by error or fraud in amounts that would
be material in relation to the financial statements being audited may occur and
not be detected within a timely period by employees in the normal course of
performing their assigned functions. However, we noted no matters involving the
Trust's internal control and its operation, including controls for safeguarding
securities, that we consider to be material weaknesses as defined above as of
March 31, 1999.
This report is intended solely for the information and use of management, the
Board of Trustees of The Nottingham Investment Trust II, and the Securities and
Exchange Commission and is not intended to be and should not be used by anyone
other than these specified parties.
Deloitte & Touche LLP
April 23, 1999
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<CIK> 0000869351
<NAME> The Nottingham Investment Trust II
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<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> Mar-31-1999
<PERIOD-END> Mar-31-1999
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 11,299,579
<INVESTMENTS-AT-VALUE> 13,883,333
<RECEIVABLES> 81,307
<ASSETS-OTHER> 28,775
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 13,993,415
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 34,893
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<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 11,995,891
<SHARES-COMMON-STOCK> 894,317
<SHARES-COMMON-PRIOR> 564,801
<ACCUMULATED-NII-CURRENT> 0
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<DIVIDEND-INCOME> 133,143
<INTEREST-INCOME> 32,478
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<DISTRIBUTIONS-OF-GAINS> 0
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<ACCUMULATED-NII-PRIOR> 0
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<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 71,743
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 205,744
<AVERAGE-NET-ASSETS> 9,568,248
<PER-SHARE-NAV-BEGIN> 11.29
<PER-SHARE-NII> 0.00
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<PER-SHARE-NAV-END> 12.77
<EXPENSE-RATIO> 1.75
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<CIK> 0000869351
<NAME> The Nottingham Investment Trust II
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<NUMBER> 2
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<S> <C>
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<FISCAL-YEAR-END> Mar-31-1999
<PERIOD-END> Mar-31-1999
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 11,299,579
<INVESTMENTS-AT-VALUE> 13,883,333
<RECEIVABLES> 81,307
<ASSETS-OTHER> 28,775
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 13,993,415
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<SENIOR-LONG-TERM-DEBT> 0
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<ACCUMULATED-NII-CURRENT> 0
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<INTEREST-INCOME> 32,478
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<NET-INVESTMENT-INCOME> (8,424)
<REALIZED-GAINS-CURRENT> (578,937)
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<NET-CHANGE-FROM-OPS> 1,266,414
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
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<NUMBER-OF-SHARES-REDEEMED> 11,169
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 6,819,143
<ACCUMULATED-NII-PRIOR> 0
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<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 205,744
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<PER-SHARE-NAV-BEGIN> 11.26
<PER-SHARE-NII> (0.04)
<PER-SHARE-GAIN-APPREC> 1.45
<PER-SHARE-DIVIDEND> 0.00
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<PER-SHARE-NAV-END> 12.52
<EXPENSE-RATIO> 2.25
[AVG-DEBT-OUTSTANDING] 0
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000869351
<NAME> The Nottingham Investment Trust II
<SERIES>
<NUMBER> 3
<NAME> Capital Value Fund
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<CURRENCY> U.S. Dollars
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> Mar-31-1999
<PERIOD-END> Mar-31-1999
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 7,686,969
<INVESTMENTS-AT-VALUE> 10,586,800
<RECEIVABLES> 144,689
<ASSETS-OTHER> 515,010
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 11,246,499
<PAYABLE-FOR-SECURITIES> 168,572
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 21,653
<TOTAL-LIABILITIES> 190,225
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 7,759,067
<SHARES-COMMON-STOCK> 721,904
<SHARES-COMMON-PRIOR> 681,586
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
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<OVERDISTRIBUTION-GAINS> 0
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<NET-ASSETS> 11,056,274
<DIVIDEND-INCOME> 112,411
<INTEREST-INCOME> 146,911
<OTHER-INCOME> 0
<EXPENSES-NET> 218,813
<NET-INVESTMENT-INCOME> 40,509
<REALIZED-GAINS-CURRENT> 1,210,654
<APPREC-INCREASE-CURRENT> 169,272
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<DISTRIBUTIONS-OF-INCOME> 40,509
<DISTRIBUTIONS-OF-GAINS> 813,281
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 65,106
<NUMBER-OF-SHARES-REDEEMED> 82,277
<SHARES-REINVESTED> 57,489
<NET-CHANGE-IN-ASSETS> 1,168,206
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 3
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 61,110
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<GROSS-EXPENSE> 218,813
<AVERAGE-NET-ASSETS> 10,186,135
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[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000869351
<NAME> The Nottingham Investment Trust II
<SERIES>
<NUMBER> 4
<NAME> Investek Fixed Income Trust
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<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> Mar-31-1999
<PERIOD-END> Mar-31-1999
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<INVESTMENTS-AT-COST> 11,315,157
<INVESTMENTS-AT-VALUE> 11,398,973
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<ACCUMULATED-NII-CURRENT> 57
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<NET-INVESTMENT-INCOME> 772,074
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<DISTRIBUTIONS-OF-INCOME> 775,430
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<ACCUMULATED-NII-PRIOR> 3,413
<ACCUMULATED-GAINS-PRIOR> (511,646)
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<PER-SHARE-NAV-BEGIN> 10.31
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<PER-SHARE-GAIN-APPREC> (0.01)
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[AVG-DEBT-OUTSTANDING] 0
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000869351
<NAME> The Nottingham Investment Trust II
<SERIES>
<NUMBER> 5
<NAME> Brown Capital Management Equity Fund
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<S> <C>
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<PERIOD-END> Mar-31-1999
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<NUMBER-OF-SHARES-SOLD> 83,530
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<ACCUMULATED-NII-PRIOR> 0
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<PER-SHARE-NII> (0.08)
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<PER-SHARE-NAV-END> 23.22
<EXPENSE-RATIO> 1.20
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<CIK> 0000869351
<NAME> The Nottingham Investment Trust II
<SERIES>
<NUMBER> 6
<NAME> Brown Capital Management Balanced
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<S> <C>
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<PERIOD-END> Mar-31-1999
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<INVESTMENTS-AT-COST> 7,407,292
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<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 50,801
<DISTRIBUTIONS-OF-GAINS> 161,031
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 220,097
<NUMBER-OF-SHARES-REDEEMED> 52,851
<SHARES-REINVESTED> 11,926
<NET-CHANGE-IN-ASSETS> 3,525,167
<ACCUMULATED-NII-PRIOR> (60)
<ACCUMULATED-GAINS-PRIOR> 16,735
<OVERDISTRIB-NII-PRIOR> 60
<OVERDIST-NET-GAINS-PRIOR> 0
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<EXPENSE-RATIO> 1.20
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<CIK> 0000869351
<NAME> The Nottingham Investment Trust II
<SERIES>
<NUMBER> 7
<NAME> Brown Small Company Fund
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<S> <C>
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<PERIOD-END> Mar-31-1999
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<INVESTMENTS-AT-COST> 21,754,059
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<OTHER-ITEMS-ASSETS> 0
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<ACCUMULATED-NII-CURRENT> 0
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<NET-INVESTMENT-INCOME> (148,904)
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<NET-CHANGE-FROM-OPS> (1,635,250)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 170,496
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 805,203
<NUMBER-OF-SHARES-REDEEMED> 127,744
<SHARES-REINVESTED> 8,148
<NET-CHANGE-IN-ASSETS> 12,511,641
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 76,574
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 151,867
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 280,799
<AVERAGE-NET-ASSETS> 15,186,671
<PER-SHARE-NAV-BEGIN> 21.02
<PER-SHARE-NII> (0.12)
<PER-SHARE-GAIN-APPREC> (1.19)
<PER-SHARE-DIVIDEND> 0.00
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<PER-SHARE-NAV-END> 19.48
<EXPENSE-RATIO> 1.50
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
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