<PAGE> PAGE 1
000 B000000 06/30/98
000 C000000 0000924725
000 D000000 N
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000 F000000 Y
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000 J000000 A
001 A000000 THE BRAMWELL FUNDS, INC.
001 B000000 811-8546
001 C000000 2123080505
002 A000000 745 FIFTH AVENUE, 16TH FLOOR
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10151
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012 A00AA01 FIRSTAR TRUST CO.
012 B00AA01 85-00410
012 C01AA01 MILWAUKEE
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013 B01AA01 MILWAUKEE
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<PAGE> PAGE 9
077 Q010000 Y
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080 A00AA00 NATIONAL UNION FIRE INSURANCE COMPANY
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024 000100 Y
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<PAGE> PAGE 10
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SIGNATURE MEG GREIFENKAMP
TITLE FINANCIAL ANALYST
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000924725
<NAME> BRAMWELL FUNDS, INC.
<SERIES>
<NUMBER> 1
<NAME> BRAMWELL GROWTH FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-1998
<PERIOD-START> JUL-01-1997
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 128,384,251
<INVESTMENTS-AT-VALUE> 208,995,299
<RECEIVABLES> 1,340,272
<ASSETS-OTHER> 62,424
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 210,397,995
<PAYABLE-FOR-SECURITIES> 4,154,728
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 321,625
<TOTAL-LIABILITIES> 4,476,353
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 115,527,333
<SHARES-COMMON-STOCK> 8,933,872
<SHARES-COMMON-PRIOR> 7,185,143
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 9,783,261
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 80,611,048
<NET-ASSETS> 205,921,642
<DIVIDEND-INCOME> 1,071,596
<INTEREST-INCOME> 364,143
<OTHER-INCOME> 0
<EXPENSES-NET> (2,630,260)
<NET-INVESTMENT-INCOME> (1,194,521)
<REALIZED-GAINS-CURRENT> 13,427,206
<APPREC-INCREASE-CURRENT> 40,370,192
<NET-CHANGE-FROM-OPS> 52,602,877
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (8,645,470)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,045,628
<NUMBER-OF-SHARES-REDEEMED> 1,719,248
<SHARES-REINVESTED> 422,349
<NET-CHANGE-IN-ASSETS> 79,997,591
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 7,906,922
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,587,601
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,630,260
<AVERAGE-NET-ASSETS> 158,795,958
<PER-SHARE-NAV-BEGIN> 17.53
<PER-SHARE-NII> (0.13)
<PER-SHARE-GAIN-APPREC> 6.82
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (1.17)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 23.05
<EXPENSE-RATIO> 1.66
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
Exhibit to Accompany
Item 77J
Form N-SAR
The Bramwell Growth Fund
(the "Fund")
According to the provisions of Statement of Position 93 - 2 (SOP
93 - 2) "Determination, Disclosure and Financial Statement
Presentation of Income, Capital Gain and Return of Capital
Distributions by Investment Companies," the Fund is required to
report the accumulated net investment income (loss) and
accumulated net capital gain (loss) accounts to approximate
amounts available for future distributions on a tax basis (or to
offset future realized capital gains). As a result, the Fund has
reclassified accumulated net investment losses of $1,194,521 and
undistributed net realized gains of $2,905,397 to paid-in capital for
the year ended June 30, 1998.
This reclassification has no impact on the net asset value of the
Fund and is designed to present the Funds' capital account on a tax
basis.
Report of Independent Accountants
To the Shareholders and Board of Directors of
The Bramwell Funds, Inc.
The Bramwell Growth Fund
In planning and performing our audit of the financial statements
and financial highlights of The Bramwell Funds, Inc. - The
Bramwell Growth Fund (the "Fund") for the year ended June 30,
1998, we considered its internal control, including control over
safeguarding securities, in order to determine our auditing
procedures for the purpose of expressing our opinion on the
financial statements and financial highlights and to comply with
the requirements of Form N-SAR, not to provide assurance on
internal control.
The management of the Fund 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 and financial highlights 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 controls, misstatements
due to errors or fraud may occur and may not be detected. Also,
projection of any evaluation of internal control to future periods is
subject to the risk that it may become inadequate because of
changes in conditions or that the effectiveness of the design and
operation may deteriorate.
Our consideration of 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 any specific internal
control component does not reduce to a relatively low level the risk
that misstatements due to errors or fraud in amounts that would be
material in relation to the financial statements and financial
highlights 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
internal control, including controls over safeguarding securities,
that we consider to be material weaknesses as defined above as of
June 30, 1998.
This report is intended solely for the information and use of
management of the Fund and the Securities and Exchange
Commission.
Milwaukee, Wisconsin
PricewaterhouseCoopers, L.L.P.
July 17, 1998
