<PAGE> PAGE 1
000 A000000 08/31/1999
000 C000000 0000893759
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 GARDNER LEWIS INVESTMENT TRUST
001 B000000 811-07324
001 C000000 2529729922
002 A000000 105 NORTH WASHINGTON STREET
002 B000000 ROCKY MOUNT
002 C000000 NC
002 D010000 27802
002 D020000 0069
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 3
007 C010100 1
007 C020100 THE CHESAPEAKE GROWTH FUND
007 C030100 N
007 C010200 2
007 C020200 THE CHESAPEAKE CORE GROWTH FUND
007 C030200 N
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 GARDNER LEWIS ASSET MANAGEMENT
008 B00AA01 A
008 C00AA01 801-36476
008 D01AA01 CHADDS FORD
008 D02AA01 PA
008 D03AA01 19317
010 A00AA01 THE NOTTINGHAM COMPANY
010 B00AA01 84-1954
010 C01AA01 ROCKY MOUNT
010 C02AA01 NC
010 C03AA01 27802
010 C04AA01 0069
011 A00AA01 CAPITAL INVESTMENT GROUP, INC.
011 B00AA01 8-74752
<PAGE> PAGE 2
011 C01AA01 RALEIGH
011 C02AA01 NC
011 C03AA01 27603
012 A00AA01 NC SHAREHOLDER SERVICES LLC
012 B00AA01 84-5687
012 C01AA01 ROCKY MOUNT
012 C02AA01 NC
012 C03AA01 27803
012 C04AA01 0435
013 A00AA01 DELOITTE & TOUCHE LLP
013 B01AA01 PITTSBURGH
013 B02AA01 PA
013 B03AA01 15222
013 B04AA01 5401
015 A00AA01 FIRST UNTION 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 3
019 C00AA00 CHESAPEAKE
020 A000001 SPEAR, LEEDS & KEEL
020 C000001 92
020 A000002 STANDARD & POORS
020 C000002 62
020 A000003 MORGAN STANLEY
020 C000003 28
020 A000004 OPPENHEIMER & CO
020 C000004 18
020 A000005 LEHMAN
020 C000005 18
020 A000006 JC BRADFORD & CO
020 C000006 17
020 A000007 DONALDSON LUFKIN
020 C000007 17
020 A000008 EQUITABLE SECURITIES
020 C000008 13
020 A000009 ABN, AMRO SECURITIES
020 C000009 12
020 A000010 WEEDEN & COMPANY
020 C000010 10
021 000000 432
022 C000001 0
022 D000001 0
022 C000002 0
022 D000002 0
022 C000003 0
022 D000003 0
<PAGE> PAGE 3
022 C000004 0
022 D000004 0
022 C000005 0
022 D000005 0
022 C000006 0
022 D000006 0
022 C000007 0
022 D000007 0
022 C000008 0
022 D000008 0
022 C000009 0
022 D000009 0
022 C000010 0
022 D000010 0
023 C000000 0
023 D000000 0
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 N
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
077 A000000 Y
077 Q010000 Y
078 000000 N
080 C00AA00 0
081 B00AA00 0
082 B00AA00 0
083 B00AA00 0
084 B00AA00 0
086 A010000 0
086 A020000 0
<PAGE> PAGE 4
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
024 000100 N
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 276
028 A020100 0
028 A030100 0
028 A040100 3770
028 B010100 169
028 B020100 0
028 B030100 0
028 B040100 3578
028 C010100 347
028 C020100 0
028 C030100 0
028 C040100 1598
028 D010100 1274
028 D020100 0
028 D030100 0
028 D040100 2396
028 E010100 268
028 E020100 0
028 E030100 0
028 E040100 2288
028 F010100 437
028 F020100 0
028 F030100 0
028 F040100 3745
028 G010100 2771
028 G020100 0
028 G030100 0
028 G040100 17375
028 H000100 391
029 000100 Y
030 A000100 1620
030 B000100 3.00
<PAGE> PAGE 5
030 C000100 0.00
031 A000100 147
031 B000100 0
032 000100 1473
033 000100 0
034 000100 N
035 000100 0
036 B000100 0
037 000100 N
038 000100 0
039 000100 Y
040 000100 Y
041 000100 Y
042 A000100 0
042 B000100 0
042 C000100 0
042 D000100 100
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 0
043 000100 59
044 000100 0
045 000100 Y
046 000100 N
047 000100 Y
048 000100 1.000
048 A010100 0
048 A020100 0.000
048 B010100 0
048 B020100 0.000
048 C010100 0
048 C020100 0.000
048 D010100 0
048 D020100 0.000
048 E010100 0
048 E020100 0.000
048 F010100 0
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 0
048 K020100 0.000
049 000100 N
050 000100 N
<PAGE> PAGE 6
051 000100 N
052 000100 N
053 A000100 Y
053 B000100 N
053 C000100 N
055 A000100 N
055 B000100 N
056 000100 Y
057 000100 N
058 A000100 N
059 000100 Y
060 A000100 Y
060 B000100 Y
061 000100 25000
062 A000100 N
062 B000100 0.0
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
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
063 A000100 0
063 B000100 0.0
066 A000100 Y
066 B000100 N
066 C000100 Y
066 D000100 N
066 E000100 N
066 F000100 N
066 G000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
070 A020100 N
070 B010100 N
070 B020100 N
070 C010100 N
070 C020100 N
<PAGE> PAGE 7
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
070 J020100 N
070 K010100 Y
070 K020100 N
070 L010100 Y
070 L020100 N
070 M010100 N
070 M020100 N
070 N010100 N
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 165518
071 B000100 187414
071 C000100 222200
071 D000100 74
072 A000100 6
072 B000100 0
072 C000100 248
072 D000100 0
072 E000100 0
072 F000100 1145
072 G000100 35
072 H000100 0
072 I000100 7
072 J000100 8
072 K000100 0
072 L000100 9
072 M000100 5
072 N000100 26
072 O000100 0
072 P000100 0
072 Q000100 60
<PAGE> PAGE 8
072 R000100 9
072 S000100 7
072 T000100 59
072 U000100 0
072 V000100 0
072 W000100 39
072 X000100 1409
072 Y000100 58
072 Z000100 -1103
072AA000100 16988
072BB000100 0
072CC010100 9822
072CC020100 0
072DD010100 0
072DD020100 0
072EE000100 0
073 A010100 0.0000
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 A000100 5
074 B000100 0
074 C000100 0
074 D000100 0
074 E000100 0
074 F000100 223438
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 1599
074 K000100 0
074 L000100 41
074 M000100 0
074 N000100 225083
074 O000100 730
074 P000100 0
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 79
074 S000100 0
074 T000100 224274
074 U010100 6783
074 U020100 5251
074 V010100 18.74
074 V020100 18.64
074 W000100 0.0000
074 X000100 587
074 Y000100 224274
075 A000100 0
<PAGE> PAGE 9
075 B000100 227048
076 000100 0.00
024 000200 N
025 D000201 0
025 D000202 0
025 D000203 0
025 D000204 0
025 D000205 0
025 D000206 0
025 D000207 0
025 D000208 0
028 A010200 4
028 A020200 0
028 A030200 0
028 A040200 0
028 B010200 0
028 B020200 0
028 B030200 0
028 B040200 0
028 C010200 0
028 C020200 0
028 C030200 0
028 C040200 0
028 D010200 1021
028 D020200 0
028 D030200 0
028 D040200 2
028 E010200 0
028 E020200 0
028 E030200 0
028 E040200 0
028 F010200 0
028 F020200 0
028 F030200 0
028 F040200 33
028 G010200 1025
028 G020200 0
028 G030200 0
028 G040200 35
028 H000200 0
029 000200 N
030 A000200 0
030 B000200 0.00
030 C000200 0.00
034 000200 N
035 000200 0
036 B000200 0
037 000200 N
038 000200 0
039 000200 Y
040 000200 N
<PAGE> PAGE 10
045 000200 Y
046 000200 N
047 000200 Y
048 000200 1.000
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
049 000200 N
050 000200 N
051 000200 N
052 000200 N
053 A000200 Y
053 B000200 Y
053 C000200 N
055 A000200 N
055 B000200 N
056 000200 Y
057 000200 N
058 A000200 N
059 000200 Y
060 A000200 Y
060 B000200 Y
061 000200 25000
062 A000200 N
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
<PAGE> PAGE 11
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 0.0
062 N000200 0.0
062 O000200 0.0
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
063 A000200 0
063 B000200 0.0
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 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 N
070 L010200 Y
070 L020200 N
070 M010200 N
070 M020200 N
070 N010200 N
070 N020200 N
070 O010200 Y
<PAGE> PAGE 12
070 O020200 N
070 P010200 N
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 4984
071 B000200 4450
071 C000200 6753
071 D000200 66
072 A000200 6
072 B000200 0
072 C000200 24
072 D000200 0
072 E000200 0
072 F000200 0
072 G000200 0
072 H000200 0
072 I000200 1
072 J000200 2
072 K000200 0
072 L000200 3
072 M000200 4
072 N000200 5
072 O000200 0
072 P000200 0
072 Q000200 15
072 R000200 6
072 S000200 3
072 T000200 0
072 U000200 0
072 V000200 0
072 W000200 3
072 X000200 42
072 Y000200 4
072 Z000200 -14
072AA000200 362
072BB000200 0
072CC010200 175
072CC020200 0
072DD010200 0
072DD020200 0
072EE000200 0
073 A010200 0.0000
073 A020200 0.0000
073 B000200 0.0000
073 C000200 0.0000
074 A000200 283
074 B000200 0
074 C000200 0
<PAGE> PAGE 13
074 D000200 0
074 E000200 0
074 F000200 7287
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 0
074 K000200 0
074 L000200 5
074 M000200 0
074 N000200 7575
074 O000200 0
074 P000200 0
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 12
074 S000200 0
074 T000200 7563
074 U010200 545
074 U020200 0
074 V010200 13.87
074 V020200 0.00
074 W000200 0.0000
074 X000200 30
074 Y000200 7563
075 A000200 0
075 B000200 7009
076 000200 0.00
SIGNATURE C FRANK WATSON III
TITLE SECRETARY
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000893759
<NAME> Gardner Lewis Investment Trust
<SERIES>
<NUMBER> 1
<NAME> Chesapeake Growth Fund Super-Institutional Class
<MULTIPLIER> 1
<CURRENCY> U.S. Dollars
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Aug-31-1999
<PERIOD-END> Aug-31-1999
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 174,749,992
<INVESTMENTS-AT-VALUE> 223,438,304
<RECEIVABLES> 1,639,981
<ASSETS-OTHER> 4,598
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 225,082,883
<PAYABLE-FOR-SECURITIES> 729,590
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 79,611
<TOTAL-LIABILITIES> 809,201
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 160,570,468
<SHARES-COMMON-STOCK> 6,782,886
<SHARES-COMMON-PRIOR> 6,782,886
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 15,014,902
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 48,688,312
<NET-ASSETS> 224,273,682
<DIVIDEND-INCOME> 248,074
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 1,351,454
<NET-INVESTMENT-INCOME> (1,103,380)
<REALIZED-GAINS-CURRENT> 16,987,879
<APPREC-INCREASE-CURRENT> 9,822,499
<NET-CHANGE-FROM-OPS> 25,706,998
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 11,102,760
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (869,597)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 372,638
<GROSS-ADVISORY-FEES> 1,144,570
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,421,806
<AVERAGE-NET-ASSETS> 227,047,840
<PER-SHARE-NAV-BEGIN> 16.68
<PER-SHARE-NII> (0.08)
<PER-SHARE-GAIN-APPREC> 2.14
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 18.74
<EXPENSE-RATIO> 1.03
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000893759
<NAME> Gardner Lewis Investment Trust
<SERIES>
<NUMBER> 2
<NAME> Chesapeake Growth Fund Institutional Class
<MULTIPLIER> 1
<CURRENCY> U.S. Dollars
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Aug-31-1999
<PERIOD-END> Aug-31-1999
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 174,749,992
<INVESTMENTS-AT-VALUE> 223,438,304
<RECEIVABLES> 1,639,981
<ASSETS-OTHER> 4,598
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 225,082,883
<PAYABLE-FOR-SECURITIES> 729,590
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 79,611
<TOTAL-LIABILITIES> 809,201
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 160,570,468
<SHARES-COMMON-STOCK> 3,648,298
<SHARES-COMMON-PRIOR> 3,821,233
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 15,014,902
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 48,688,312
<NET-ASSETS> 224,273,682
<DIVIDEND-INCOME> 248,074
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 1,351,454
<NET-INVESTMENT-INCOME> (1,103,380)
<REALIZED-GAINS-CURRENT> 16,987,879
<APPREC-INCREASE-CURRENT> 9,822,499
<NET-CHANGE-FROM-OPS> 25,706,998
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 123,172
<NUMBER-OF-SHARES-REDEEMED> 296,107
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 11,102,760
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (869,597)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 372,638
<GROSS-ADVISORY-FEES> 1,144,570
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,421,806
<AVERAGE-NET-ASSETS> 227,047,840
<PER-SHARE-NAV-BEGIN> 16.60
<PER-SHARE-NII> (0.09)
<PER-SHARE-GAIN-APPREC> 2.13
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 18.64
<EXPENSE-RATIO> 1.16
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000893759
<NAME> Gardner Lewis Investment Trust
<SERIES>
<NUMBER> 3
<NAME> Chesapeake Growth Fund Class A
<MULTIPLIER> 1
<CURRENCY> U.S. Dollars
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Aug-31-1999
<PERIOD-END> Aug-31-1999
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 174,749,992
<INVESTMENTS-AT-VALUE> 223,438,304
<RECEIVABLES> 1,639,981
<ASSETS-OTHER> 4,598
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 225,082,883
<PAYABLE-FOR-SECURITIES> 729,590
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 79,611
<TOTAL-LIABILITIES> 809,201
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 160,570,468
<SHARES-COMMON-STOCK> 1,156,346
<SHARES-COMMON-PRIOR> 1,575,602
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 15,014,902
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 48,688,312
<NET-ASSETS> 224,273,682
<DIVIDEND-INCOME> 248,074
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 1,351,454
<NET-INVESTMENT-INCOME> (1,103,380)
<REALIZED-GAINS-CURRENT> 16,987,879
<APPREC-INCREASE-CURRENT> 9,822,499
<NET-CHANGE-FROM-OPS> 25,706,998
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 17,535
<NUMBER-OF-SHARES-REDEEMED> 436,792
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 11,102,760
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (869,597)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 372,638
<GROSS-ADVISORY-FEES> 1,144,570
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,421,806
<AVERAGE-NET-ASSETS> 227,047,840
<PER-SHARE-NAV-BEGIN> 16.37
<PER-SHARE-NII> (0.14)
<PER-SHARE-GAIN-APPREC> 2.12
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 18.35
<EXPENSE-RATIO> 1.53
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000893759
<NAME> Gardner Lewis Investment Trust
<SERIES>
<NUMBER> 4
<NAME> Chesapeake Growth Fund Class C
<MULTIPLIER> 1
<CURRENCY> U.S. Dollars
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Aug-31-1999
<PERIOD-END> Aug-31-1999
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 174,749,992
<INVESTMENTS-AT-VALUE> 223,438,304
<RECEIVABLES> 1,639,981
<ASSETS-OTHER> 4,598
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 225,082,883
<PAYABLE-FOR-SECURITIES> 729,590
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 79,611
<TOTAL-LIABILITIES> 809,201
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 160,570,468
<SHARES-COMMON-STOCK> 121,936
<SHARES-COMMON-PRIOR> 176,486
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 15,014,902
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 48,688,312
<NET-ASSETS> 224,273,682
<DIVIDEND-INCOME> 248,074
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 1,351,454
<NET-INVESTMENT-INCOME> (1,103,380)
<REALIZED-GAINS-CURRENT> 16,987,879
<APPREC-INCREASE-CURRENT> 9,822,499
<NET-CHANGE-FROM-OPS> 25,706,998
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,390
<NUMBER-OF-SHARES-REDEEMED> 59,939
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 11,102,760
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (869,597)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 372,638
<GROSS-ADVISORY-FEES> 1,144,570
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,421,806
<AVERAGE-NET-ASSETS> 227,047,840
<PER-SHARE-NAV-BEGIN> 15.52
<PER-SHARE-NII> (0.32)
<PER-SHARE-GAIN-APPREC> 2.05
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 17.25
<EXPENSE-RATIO> 3.22
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000893759
<NAME> Gardner Lewis Investment Trust
<SERIES>
<NUMBER> 5
<NAME> Chesapeake Growth Fund Class D
<MULTIPLIER> 1
<CURRENCY> U.S. Dollars
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Aug-31-1999
<PERIOD-END> Aug-31-1999
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 174,749,992
<INVESTMENTS-AT-VALUE> 223,438,304
<RECEIVABLES> 1,639,981
<ASSETS-OTHER> 4,598
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 225,082,883
<PAYABLE-FOR-SECURITIES> 729,590
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 79,611
<TOTAL-LIABILITIES> 809,201
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 160,570,468
<SHARES-COMMON-STOCK> 324,823
<SHARES-COMMON-PRIOR> 502,383
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 15,014,902
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 48,688,312
<NET-ASSETS> 224,273,682
<DIVIDEND-INCOME> 248,074
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 1,351,454
<NET-INVESTMENT-INCOME> (1,103,380)
<REALIZED-GAINS-CURRENT> 16,987,879
<APPREC-INCREASE-CURRENT> 9,822,499
<NET-CHANGE-FROM-OPS> 25,706,998
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,372
<NUMBER-OF-SHARES-REDEEMED> 181,932
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 11,102,760
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (869,597)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 372,638
<GROSS-ADVISORY-FEES> 1,144,570
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,421,806
<AVERAGE-NET-ASSETS> 227,047,840
<PER-SHARE-NAV-BEGIN> 16.04
<PER-SHARE-NII> (0.20)
<PER-SHARE-GAIN-APPREC> 2.09
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 17.93
<EXPENSE-RATIO> 2.09
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000893759
<NAME> Gardner Lewis Investment Trust
<SERIES>
<NUMBER> 6
<NAME> Chesapeake Core Growth Fund
<MULTIPLIER> 1
<CURRENCY> U.S. Dollars
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Aug-31-1999
<PERIOD-END> Aug-31-1999
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 6,095,417
<INVESTMENTS-AT-VALUE> 7,286,521
<RECEIVABLES> 5,098
<ASSETS-OTHER> 283,529
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 7,575,148
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 12,634
<TOTAL-LIABILITIES> 12,634
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 6,066,205
<SHARES-COMMON-STOCK> 545,207
<SHARES-COMMON-PRIOR> 476,904
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 305,205
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,191,104
<NET-ASSETS> 7,562,514
<DIVIDEND-INCOME> 24,301
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 38,485
<NET-INVESTMENT-INCOME> (14,184)
<REALIZED-GAINS-CURRENT> 361,846
<APPREC-INCREASE-CURRENT> 174,531
<NET-CHANGE-FROM-OPS> 522,193
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 70,720
<NUMBER-OF-SHARES-REDEEMED> 2,417
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 1,513,001
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (42,457)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 35,333
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 86,511
<AVERAGE-NET-ASSETS> 7,009,011
<PER-SHARE-NAV-BEGIN> 12.68
<PER-SHARE-NII> (0.03)
<PER-SHARE-GAIN-APPREC> 1.22
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 13.87
<EXPENSE-RATIO> 1.09
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
</TABLE>
