<PAGE> PAGE 1
000 A000000 12/31/1999
000 C000000 0000922379
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 KPM FUNDS, INC.
001 B000000 811-08488
001 C000000 4142873630
002 A000000 615 E. MICHIGAN STREET
002 B000000 MILWAUKEE
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002 D010000 53202
003 000000 N
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007 C020100 KPM EQUITY PORTFOLIO
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007 C020200 KPM FIXED INCOME PORTFOLIO
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007 C010400 4
007 C010500 5
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007 C010700 7
007 C010800 8
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008 A00AA01 KPM INVESTMENT MANAGEMENT, INC.
008 B00AA01 A
008 C00AA01 801-46698
008 D01AA01 OMAHA
008 D02AA01 NE
008 D03AA01 68114
010 A00AA01 FIRSTAR MUTUAL FUND SERVICES, LLC
010 B00AA01 85-11357
010 C01AA01 MILWAUKEE
010 C02AA01 WI
010 C03AA01 53202
011 A00AA01 KIRKPATRICK, PETTIS, SMITH, POLIAN, INC.
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<PAGE> PAGE 2
011 C03AA01 68114
012 A00AA01 FIRSTAR MUTUAL FUND SERVICES, LLC
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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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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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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SIGNATURE RODNEY D. CERNY
TITLE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Pursuant to Item 602(c)(2)(i) of Regulations S-K and S-B.
</LEGEND>
<CIK> 0000922379
<NAME> KPM FUNDS, INC.
<SERIES>
<NUMBER> 1
<NAME> KPM EQUITY PORTFOLIO
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-2000
<PERIOD-START> JUL-01-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 10,714,912
<INVESTMENTS-AT-VALUE> 13,427,575
<RECEIVABLES> 294,684
<ASSETS-OTHER> 392,719
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 14,114,978
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 85,569
<TOTAL-LIABILITIES> 85,569
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 9,837,536
<SHARES-COMMON-STOCK> 1,027,526
<SHARES-COMMON-PRIOR> 1,613,816
<ACCUMULATED-NII-CURRENT> (6,616)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,485,826
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,712,663
<NET-ASSETS> 14,029,409
<DIVIDEND-INCOME> 167,039
<INTEREST-INCOME> 14,156
<OTHER-INCOME> 0
<EXPENSES-NET> (156,324)
<NET-INVESTMENT-INCOME> 24,871
<REALIZED-GAINS-CURRENT> 1,486,061
<APPREC-INCREASE-CURRENT> (4,317,701)
<NET-CHANGE-FROM-OPS> (2,806,769)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (31,487)
<DISTRIBUTIONS-OF-GAINS> (962,486)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 50,774
<NUMBER-OF-SHARES-REDEEMED> (705,116)
<SHARES-REINVESTED> 68,052
<NET-CHANGE-IN-ASSETS> (12,322,100)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 962,250
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 83,358
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 172,521
<AVERAGE-NET-ASSETS> 20,602,986
<PER-SHARE-NAV-BEGIN> 16.33
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> (1.86)
<PER-SHARE-DIVIDEND> (0.02)
<PER-SHARE-DISTRIBUTIONS> (0.82)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.65
<EXPENSE-RATIO> 1.50
</TABLE>
Special Meeting of Shareholders, November 8, 1999
A Special Meeting of Shareholders of the KPM Fixed Income Portfolio (the
"Portfolio"), a series of the KPM Funds, Inc. (the "Fund"), was held November 8,
1999 at the offices of the Fund. As of October 8, 1999, the record date,
outstanding shares of the Fund were 493,718.194. Holders of 404,013.160 shares
of the Fund were present at the meeting in person or by proxy, being the holders
of a majority of the outstanding shares of the Fund and thus constituting a
quorum. The following matter was voted on at the meeting:
The Shareholders of the Portfolio elected to liquidate and dissolve the
Portfolio.
- --------------------------------------------------------
Withhold/ Broker Shares
For Against Abstain Not Voted
- --------------------------------------------------------
382,953.310 0.000 110,764.884 0.000
