BRIAR FUNDS TRUST
NSAR-A, 1996-07-17
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<PAGE>      PAGE  1
000 A000000 05/31/96
000 C000000 0000931423
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 BRIAR FUNDS TRUST/THE STALWART FUNDS
001 B000000 811-8812
001 C000000 3125547500
002 A000000 311 SOUTH WACKER DRIVE, SUITE 4990
002 B000000 CHICAGO
002 C000000 IL
002 D010000 60606
002 D020000 6604
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  5
007 C010100  1
007 C020100 STALWART CORE EQUITY FUND
007 C030100 N
007 C010200  2
007 C020200 STALWART AGGRESSIVE EQUITY FUND
007 C030200 N
007 C010300  3
007 C020300 STALWART INTERNATIONAL EQUITY FUND
007 C030300 N
007 C010400  4
007 C020400 STALWART U.S. GOVERNMENT SECURITIES FUND
007 C030400 N
007 C010500  5
007 C020500 STALWART INCOME FUND
007 C030500 N
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
010 A00AA01 SUNSTONE FINANCIAL GROUP, INC.
010 B00AA01 8-42106
010 C01AA01 MILWAUKEE
010 C02AA01 WI
010 C03AA01 53202
011 A00AA01 S.F. INVESTMENTS, INC.
011 B00AA01 8-34069
011 C01AA01 CHICAGO
<PAGE>      PAGE  2
011 C02AA01 IL
011 C03AA01 60606
012 A00AA01 SUNSTONE FINANCIAL GROUP, INC.
012 B00AA01 84-5585
012 C01AA01 MILWAUKEE
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013 A00AA01 ERNST & YOUNG LLP
013 B01AA01 CHICAGO
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013 B04AA01 6301
020 A000001 MORGAN STANLEY & CO.
020 B000001 13-2655998
020 C000001      7
020 A000002 WERTHEIM SCHRODER
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020 C000002      5
020 A000003 ROBERT FLEMING
020 C000003      4
020 A000004 BOSTON INSTITUTIONAL
020 C000004      3
020 A000005 SF INVESTMENT, INC.
020 B000005 36-3363397
020 C000005      3
020 A000006 ROBERTSON STEPHENS & CO.
020 B000006 94-2524501
020 C000006      3
020 A000007 JANNEY MONTGOMERY
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020 A000008 MESIROW FINANCIAL, INC.
020 B000008 36-3194849
020 C000008      1
020 A000009 GK KOH
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<PAGE>      PAGE  3
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<PAGE>      PAGE  4
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054 O00AA00 N
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<PAGE>      PAGE  5
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014 A000101 S.F. INVESTMENTS, INC.
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
049  000100 N
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<PAGE>      PAGE  8
070 C010100 Y
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070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 N
070 L010100 Y
070 L020100 Y
070 M010100 Y
070 M020100 N
070 N010100 N
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 N
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
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<PAGE>      PAGE  9
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<PAGE>      PAGE  10
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008 A000201 BRIAR CAPITAL MANAGEMENT L.L.C.
008 B000201 A
008 C000201 801-47732
008 D010201 CHICAGO
008 D020201 IL
008 D030201 60606
008 D040201 6604
008 A000202 WASATCH ADVISORS, INC.
008 B000202 S
008 C000202 801-11095
008 D010202 SALT LAKE CITY
008 D020202 UT
008 D030202 84101
014 A000201 S.F. INVESTMENTS, INC.
014 B000201 8-34069
015 A000201 UMB BANK, N.A.
015 B000201 C
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<PAGE>      PAGE  11
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051  000200 N
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<PAGE>      PAGE  12
053 B000200 Y
053 C000200 N
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058 A000200 N
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066 E000200 N
066 F000200 N
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<PAGE>      PAGE  13
070 E020200 N
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<PAGE>      PAGE  14
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<PAGE>      PAGE  15
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014 A000301 S.F. INVESTMENTS, INC.
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015 A000301 UMB BANK, N.A.
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<PAGE>      PAGE  16
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<PAGE>      PAGE  17
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<PAGE>      PAGE  18
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015 E040332 X
015 A000333 ALLIED IRISH BANK
015 B000333 S
015 C010333 DUBLIN
015 D010333 IRELAND
015 E040333 X
015 A000334 BANK LEUMI
015 B000334 S
015 C010334 TEL-AVIV
015 D010334 ISRAEL
015 E040334 X
015 A000335 BARCLAYS BANK PLC
015 B000335 S
015 C010335 MILANO
015 D010335 ITALY
015 E040335 X
015 A000336 ARAB BANK PLC
015 B000336 S
015 C010336 AMMAN
015 D010336 JORDAN
015 E040336 X
015 A000337 BARCLAYS BANK OF KENYA LTD.
015 B000337 S
015 C010337 NAIROBI
015 D010337 KENYA
015 E040337 X
015 A000338 CITIBANK N.A.
<PAGE>      PAGE  19
015 B000338 S
015 C010338 MEXICO CITY
015 D010338 MEXICO
015 E040338 X
015 A000339 BANQUE COMMERCIALE DU MAROC
015 B000339 S
015 C010339 CASABLANCA
015 D010339 MOROCCO
015 E040339 X
015 A000340 SVENSKA HANDELSBANKEN
015 B000340 S
015 C010340 STOCKHOLM
015 D010340 SWEDEN
015 E040340 X
015 A000341 AUSTRALIA AND NEW ZEALAND BANK
015 B000341 S
015 C010341 WELLINGTON
015 D010341 NEW ZEALAND
015 E040341 X
015 A000342 STANDARD CHARTERED BANK
015 B000342 S
015 C010342 KARACHI
015 D010342 PAKISTAN
015 E040342 X
015 A000343 CITIBANK N.A.
015 B000343 S
015 C010343 LIMA
015 D010343 PERU
015 E040343 X
015 A000344 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000344 S
015 C010344 PASIG
015 D010344 PHILIPPINES
015 E040344 X
015 A000345 CITIBANK S.A.
015 B000345 S
015 C010345 WARSZAWA
015 D010345 POLAND
015 E040345 X
015 A000346 BANCO COMERCIAL PORTUGUES
015 B000346 S
015 C010346 LISBOA
015 D010346 PORTUGAL
015 E040346 X
015 A000347 STANDARD CHARTERED BANK
015 B000347 S
015 C010347 SEOUL
015 D010347 SOUTH KOREA
015 E040347 X
015 A000348 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000348 S
<PAGE>      PAGE  20
015 C010348 COLOMBO
015 D010348 SRI LANKA
015 E040348 X
015 A000349 BARCLAYS BANK OF SWAZILAND LTD.
015 B000349 S
015 C010349 MBABANE
015 D010349 SWAZILAND
015 E040349 X
015 A000350 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000350 S
015 C010350 TAIPEI
015 D010350 TAIWAN
015 E040350 X
015 A000351 CITIBANK N.A.
015 B000351 S
015 C010351 ISTANBUL
015 D010351 TURKEY
015 E040351 X
015 A000352 CITIBANK N.A.
015 B000352 S
015 C010352 MONTEVIDEO
015 D010352 URUGUAY
015 E040352 X
015 A000353 CITIBANK N.A.
015 B000353 S
015 C010353 CARACAS
015 D010353 VENEZUELA
015 E040353 X
015 A000354 BARCLAYS BANK OF ZAMBIA LTD.
015 B000354 S
015 C010354 LUSAKA
015 D010354 ZAMBIA
015 E040354 X
015 A000355 BARCLAYS BANK OF ZIMBABWE LTD.
015 B000355 S
015 C010355 HARARE
015 D010355 ZIMBABWE
015 E040355 X
015 A000357 EUROCLEAR CLEARING CENTRE
015 B000357 S
015 C010357 BRUSSELS
015 D010357 BELGIUM
015 E040357 X
018  000300 Y
019 A000300 N
019 B000300    0
028 A010300         9
028 A020300       158
028 A030300         0
028 A040300       688
028 B010300         0
<PAGE>      PAGE  21
028 B020300         0
028 B030300         0
028 B040300       160
028 C010300         0
028 C020300         0
028 C030300         0
028 C040300        58
028 D010300         0
028 D020300         0
028 D030300         0
028 D040300       168
028 E010300         0
028 E020300         6
028 E030300         0
028 E040300      1212
028 F010300         0
028 F020300         2
028 F030300         0
028 F040300      1142
028 G010300         9
028 G020300       166
028 G030300         0
028 G040300      3428
028 H000300         0
029  000300 N
030 A000300      0
030 B000300  0.00
030 C000300  0.00
031 A000300      0
031 B000300      0
032  000300      0
033  000300      0
034  000300 N
035  000300      0
036 B000300      0
045  000300 Y
046  000300 Y
047  000300 Y
048  000300  0.850
048 A010300        0
048 A020300 0.000
048 B010300        0
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
<PAGE>      PAGE  22
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        0
048 K020300 0.000
049  000300 N
050  000300 N
051  000300 N
052  000300 N
053 A000300 Y
053 B000300 Y
053 C000300 N
055 A000300 Y
055 B000300 N
056  000300 Y
057  000300 N
058 A000300 N
059  000300 Y
060 A000300 Y
060 B000300 Y
061  000300      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
063 A000300   0
063 B000300  0.0
066 A000300 Y
066 B000300 N
066 C000300 Y
066 D000300 N
066 E000300 N
<PAGE>      PAGE  23
066 F000300 N
066 G000300 N
067  000300 N
068 A000300 N
068 B000300 N
069  000300 N
070 A010300 Y
070 A020300 Y
070 B010300 Y
070 B020300 N
070 C010300 Y
070 C020300 N
070 D010300 Y
070 D020300 N
070 E010300 Y
070 E020300 N
070 F010300 Y
070 F020300 N
070 G010300 Y
070 G020300 N
070 H010300 Y
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 Y
070 K020300 N
070 L010300 Y
070 L020300 Y
070 M010300 Y
070 M020300 Y
070 N010300 N
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 N
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
071 A000300       244
071 B000300      4204
071 C000300      1650
071 D000300   15
072 A000300  6
072 B000300       13
072 C000300        5
072 D000300        0
072 E000300        0
<PAGE>      PAGE  24
072 F000300       11
072 G000300       13
072 H000300        0
072 I000300        9
072 J000300        9
072 K000300        0
072 L000300        2
072 M000300        0
072 N000300        1
072 O000300        0
072 P000300        0
072 Q000300        0
072 R000300        1
072 S000300        3
072 T000300        1
072 U000300        1
072 V000300        0
072 W000300        2
072 X000300       53
072 Y000300       29
072 Z000300       -6
072AA000300      602
072BB000300        0
072CC010300        0
072CC020300      275
072DD010300       10
072DD020300        0
072EE000300      726
073 A010300   0.0359
073 A020300   0.0000
073 B000300   2.9074
073 C000300   0.0000
074 A000300        8
074 B000300        0
074 C000300        0
074 D000300        0
074 E000300        0
074 F000300        0
074 G000300        0
074 H000300        0
074 I000300        0
074 J000300        0
074 K000300       30
074 L000300        0
074 M000300        1
074 N000300       39
074 O000300        0
074 P000300        0
074 Q000300        0
074 R010300        0
074 R020300        0
<PAGE>      PAGE  25
074 R030300        0
074 R040300       14
074 S000300        0
074 T000300       25
074 U010300        3
074 U020300        0
074 V010300     9.06
074 V020300     0.00
074 W000300   0.0000
074 X000300        1
074 Y000300        0
075 A000300        0
075 B000300     2886
076  000300     0.00
008 A000401 BRIAR CAPITAL MANAGEMENT L.L.C.
008 B000401 A
008 C000401 801-47732
008 D010401 CHICAGO
008 D020401 IL
008 D030401 60606
008 D040401 6604
008 A000402 PEKIN, SINGER & SHAPIRO ASSET MANAGEMENT, INC
008 B000402 S
008 C000402 801-35684
008 D010402 CHICAGO
008 D020402 IL
008 D030402 60606
008 D040402 6604
014 A000401 S.F. INVESTMENTS, INC.
014 B000401 8-34069
015 A000401 UNITED MISSOURI BANK, N.A.
015 B000401 C
015 C010401 KANSAS CITY
015 C020401 MO
015 C030401 64141
015 E010401 X
018  000400 Y
019 A000400 N
019 B000400    0
028 A010400        21
028 A020400       232
028 A030400         0
028 A040400       689
028 B010400         3
028 B020400         0
028 B030400         0
028 B040400       301
028 C010400         0
028 C020400         0
028 C030400         0
028 C040400       100
<PAGE>      PAGE  26
028 D010400         0
028 D020400         0
028 D030400         0
028 D040400       250
028 E010400         0
028 E020400         0
028 E030400         0
028 E040400      1957
028 F010400         0
028 F020400         2
028 F030400         0
028 F040400      3435
028 G010400        24
028 G020400       234
028 G030400         0
028 G040400      6732
028 H000400         0
029  000400 N
030 A000400      0
030 B000400  0.00
030 C000400  0.00
031 A000400      0
031 B000400      0
032  000400      0
033  000400      0
034  000400 N
035  000400      0
036 B000400      0
045  000400 Y
046  000400 Y
047  000400 Y
048  000400  0.450
048 A010400        0
048 A020400 0.000
048 B010400        0
048 B020400 0.000
048 C010400        0
048 C020400 0.000
048 D010400        0
048 D020400 0.000
048 E010400        0
048 E020400 0.000
048 F010400        0
048 F020400 0.000
048 G010400        0
048 G020400 0.000
048 H010400        0
048 H020400 0.000
048 I010400        0
048 I020400 0.000
048 J010400        0
<PAGE>      PAGE  27
048 J020400 0.000
048 K010400        0
048 K020400 0.000
049  000400 N
050  000400 N
051  000400 N
052  000400 N
053 A000400 Y
053 B000400 Y
053 C000400 N
055 A000400 Y
055 B000400 N
056  000400 Y
057  000400 N
058 A000400 N
059  000400 Y
060 A000400 Y
060 B000400 Y
061  000400      500
062 A000400 Y
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
063 A000400   0
063 B000400  0.0
064 A000400 N
064 B000400 N
066 A000400 N
067  000400 N
068 A000400 N
068 B000400 N
069  000400 N
070 A010400 Y
070 A020400 Y
070 B010400 Y
070 B020400 N
070 C010400 Y
<PAGE>      PAGE  28
070 C020400 N
070 D010400 Y
070 D020400 N
070 E010400 Y
070 E020400 N
070 F010400 Y
070 F020400 N
070 G010400 Y
070 G020400 N
070 H010400 Y
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
070 K020400 N
070 L010400 N
070 L020400 N
070 M010400 N
070 M020400 N
070 N010400 N
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 N
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400         0
071 B000400      6746
071 C000400      2836
071 D000400    0
072 A000400  6
072 B000400      171
072 C000400        0
072 D000400        0
072 E000400        0
072 F000400       12
072 G000400       27
072 H000400        0
072 I000400        9
072 J000400        3
072 K000400        0
072 L000400        2
072 M000400        0
072 N000400        1
072 O000400        0
072 P000400        0
<PAGE>      PAGE  29
072 Q000400        0
072 R000400        1
072 S000400        3
072 T000400        1
072 U000400        1
072 V000400        0
072 W000400        2
072 X000400       62
072 Y000400       37
072 Z000400      145
072AA000400      336
072BB000400        0
072CC010400        0
072CC020400      534
072DD010400      147
072DD020400        0
072EE000400      497
073 A010400   0.2761
073 A020400   0.0000
073 B000400   0.8383
073 C000400   0.0000
074 A000400       10
074 B000400        0
074 C000400        0
074 D000400        0
074 E000400        0
074 F000400        0
074 G000400        0
074 H000400        0
074 I000400        0
074 J000400        0
074 K000400       30
074 L000400        0
074 M000400        1
074 N000400       41
074 O000400        0
074 P000400        0
074 Q000400        0
074 R010400        0
074 R020400        0
074 R030400        0
074 R040400       18
074 S000400        0
074 T000400       23
074 U010400        2
074 U020400        0
074 V010400     9.61
074 V020400     0.00
074 W000400   0.0000
074 X000400        1
074 Y000400        0
<PAGE>      PAGE  30
075 A000400        0
075 B000400     5790
076  000400     0.00
008 A000501 BRIAR CAPITAL MANAGEMENT L.L.C.
008 B000501 A
008 C000501 801-47732
008 D010501 CHICAGO
008 D020501 IL
008 D030501 60606
008 D040501 6604
008 A000502 PEKIN, SINGER & SHAPIRO ASSET MANAGEMENT, INC
008 B000502 S
008 C000502 801-35684
008 D010502 CHICAGO
008 D020502 IL
008 D030502 60606
008 D040502 6604
014 A000501 S.F. INVESTMENTS, INC.
014 B000501 8-34069
015 A000501 UNITED MISSOURI BANK, N.A.
015 B000501 C
015 C010501 KANSAS CITY
015 C020501 MO
015 C030501 64141
015 E010501 X
018  000500 Y
019 A000500 N
019 B000500    0
028 A010500        14
028 A020500       333
028 A030500         0
028 A040500       575
028 B010500         1
028 B020500         0
028 B030500         0
028 B040500       253
028 C010500         0
028 C020500         0
028 C030500         0
028 C040500        71
028 D010500         0
028 D020500         0
028 D030500         0
028 D040500       267
028 E010500         0
028 E020500         3
028 E030500         0
028 E040500      2427
028 F010500         0
028 F020500         0
028 F030500         0
<PAGE>      PAGE  31
028 F040500      2156
028 G010500        15
028 G020500       336
028 G030500         0
028 G040500      5750
028 H000500         0
029  000500 N
030 A000500      0
030 B000500  0.00
030 C000500  0.00
031 A000500      0
031 B000500      0
032  000500      0
033  000500      0
034  000500 N
035  000500      0
036 B000500      0
045  000500 Y
046  000500 Y
047  000500 Y
048  000500  0.450
048 A010500        0
048 A020500 0.000
048 B010500        0
048 B020500 0.000
048 C010500        0
048 C020500 0.000
048 D010500        0
048 D020500 0.000
048 E010500        0
048 E020500 0.000
048 F010500        0
048 F020500 0.000
048 G010500        0
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
049  000500 N
050  000500 N
051  000500 N
052  000500 N
053 A000500 Y
053 B000500 Y
053 C000500 N
055 A000500 Y
<PAGE>      PAGE  32
055 B000500 N
056  000500 Y
057  000500 N
058 A000500 N
059  000500 Y
060 A000500 Y
060 B000500 Y
061  000500      500
062 A000500 Y
062 B000500   0.0
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
063 A000500   0
063 B000500  0.0
064 A000500 N
064 B000500 N
066 A000500 N
067  000500 N
068 A000500 N
068 B000500 N
069  000500 N
070 A010500 Y
070 A020500 Y
070 B010500 Y
070 B020500 N
070 C010500 Y
070 C020500 N
070 D010500 Y
070 D020500 N
070 E010500 Y
070 E020500 N
070 F010500 Y
070 F020500 N
070 G010500 Y
070 G020500 N
070 H010500 Y
070 H020500 N
<PAGE>      PAGE  33
070 I010500 N
070 I020500 N
070 J010500 Y
070 J020500 N
070 K010500 Y
070 K020500 N
070 L010500 Y
070 L020500 Y
070 M010500 Y
070 M020500 N
070 N010500 N
070 N020500 N
070 O010500 Y
070 O020500 N
070 P010500 N
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 N
070 R020500 N
071 A000500         0
071 B000500      6023
071 C000500      2958
071 D000500    0
072 A000500  6
072 B000500      110
072 C000500       22
072 D000500        0
072 E000500        0
072 F000500       10
072 G000500       23
072 H000500        0
072 I000500        9
072 J000500        3
072 K000500        0
072 L000500        2
072 M000500        0
072 N000500        1
072 O000500        0
072 P000500        0
072 Q000500        0
072 R000500        1
072 S000500        3
072 T000500        1
072 U000500        1
072 V000500        0
072 W000500        3
072 X000500       57
072 Y000500       31
072 Z000500      106
072AA000500      401
<PAGE>      PAGE  34
072BB000500        0
072CC010500        0
072CC020500      386
072DD010500      107
072DD020500        0
072EE000500      700
073 A010500   0.2250
073 A020500   0.0000
073 B000500   1.1056
073 C000500   0.0000
074 A000500       10
074 B000500        0
074 C000500        0
074 D000500        0
074 E000500        0
074 F000500        0
074 G000500        0
074 H000500        0
074 I000500        0
074 J000500        0
074 K000500       30
074 L000500        0
074 M000500        0
074 N000500       40
074 O000500        0
074 P000500        0
074 Q000500        0
074 R010500        0
074 R020500        0
074 R030500        0
074 R040500       16
074 S000500        0
074 T000500       24
074 U010500        2
074 U020500        0
074 V010500     9.75
074 V020500     0.00
074 W000500   0.0000
074 X000500        1
074 Y000500        0
075 A000500        0
075 B000500     4967
076  000500     0.00
SIGNATURE   TODD W. BRYLOW                               
TITLE       FINANCIAL ANALYST   
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000931423
<NAME> BRIAR FUNDS TRUST\THE STALWART FUNDS
<SERIES>
   <NUMBER> 1
   <NAME> STALWART CORE EQUITY FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          NOV-30-1996
<PERIOD-START>                             DEC-01-1995
<PERIOD-END>                               MAY-31-1996
<INVESTMENTS-AT-COST>                                0
<INVESTMENTS-AT-VALUE>                               0
<RECEIVABLES>                                      230
<ASSETS-OTHER>                                  30,335
<OTHER-ITEMS-ASSETS>                             9,105
<TOTAL-ASSETS>                                  39,670
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       12,241
<TOTAL-LIABILITIES>                             12,241
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        24,233
<SHARES-COMMON-STOCK>                            3,449
<SHARES-COMMON-PRIOR>                          654,753
<ACCUMULATED-NII-CURRENT>                        3,196
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                    27,429
<DIVIDEND-INCOME>                               44,345
<INTEREST-INCOME>                               27,900
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  47,169
<NET-INVESTMENT-INCOME>                         25,076
<REALIZED-GAINS-CURRENT>                     1,981,209
<APPREC-INCREASE-CURRENT>                  (1,395,607)
<NET-CHANGE-FROM-OPS>                          610,678
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       24,888
<DISTRIBUTIONS-OF-GAINS>                     2,300,972
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          2,700
<NUMBER-OF-SHARES-REDEEMED>                    687,755
<SHARES-REINVESTED>                             33,751
<NET-CHANGE-IN-ASSETS>                     (8,144,410)
<ACCUMULATED-NII-PRIOR>                          2,706
<ACCUMULATED-GAINS-PRIOR>                      319,764
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           21,971
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 74,441
<AVERAGE-NET-ASSETS>                         6,455,929
<PER-SHARE-NAV-BEGIN>                            12.48
<PER-SHARE-NII>                                   0.98
<PER-SHARE-GAIN-APPREC>                         (0.43)
<PER-SHARE-DIVIDEND>                            (0.06)
<PER-SHARE-DISTRIBUTIONS>                       (5.02)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               7.95
<EXPENSE-RATIO>                                   1.62
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000931423
<NAME> BRIAR FUNDS TRUST/THE STALWART FUNDS
<SERIES>
   <NUMBER> 2
   <NAME> STALWART AGGRESSIVE EQUITY FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          NOV-30-1996
<PERIOD-START>                             DEC-01-1995
<PERIOD-END>                               MAY-31-1996
<INVESTMENTS-AT-COST>                                0
<INVESTMENTS-AT-VALUE>                               0
<RECEIVABLES>                                      155
<ASSETS-OTHER>                                  30,335
<OTHER-ITEMS-ASSETS>                             7,829
<TOTAL-ASSETS>                                  38,319
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       13,629
<TOTAL-LIABILITIES>                             13,629
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        21,831
<SHARES-COMMON-STOCK>                            2,803
<SHARES-COMMON-PRIOR>                          512,662
<ACCUMULATED-NII-CURRENT>                        2,859
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                    24,690
<DIVIDEND-INCOME>                               17,396
<INTEREST-INCOME>                               24,906
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  32,659
<NET-INVESTMENT-INCOME>                          9,643
<REALIZED-GAINS-CURRENT>                       456,508
<APPREC-INCREASE-CURRENT>                    (493,029)
<NET-CHANGE-FROM-OPS>                         (26,878)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        7,086
<DISTRIBUTIONS-OF-GAINS>                     1,391,668
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            462
<NUMBER-OF-SHARES-REDEEMED>                    603,532
<SHARES-REINVESTED>                             93,211
<NET-CHANGE-IN-ASSETS>                     (6,285,956)
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<ACCUMULATED-GAINS-PRIOR>                      931,817
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 57,997
<AVERAGE-NET-ASSETS>                         4,498,081
<PER-SHARE-NAV-BEGIN>                            12.31
<PER-SHARE-NII>                                   1.03
<PER-SHARE-GAIN-APPREC>                         (1.00)
<PER-SHARE-DIVIDEND>                            (0.02)
<PER-SHARE-DISTRIBUTIONS>                       (3.51)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               8.81
<EXPENSE-RATIO>                                   1.61
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000931423
<NAME> BRIAR FUNDS TRUST/THE STALWART FUNDS
<SERIES>
   <NUMBER> 3
   <NAME> STALWART INTERNATIONAL EQUITY FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          NOV-30-1996
<PERIOD-START>                             DEC-01-1996
<PERIOD-END>                               MAY-31-1996
<INVESTMENTS-AT-COST>                                0
<INVESTMENTS-AT-VALUE>                               0
<RECEIVABLES>                                    1,117
<ASSETS-OTHER>                                  30,335
<OTHER-ITEMS-ASSETS>                             8,053
<TOTAL-ASSETS>                                  39,505
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       14,179
<TOTAL-LIABILITIES>                             14,179
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        25,260
<SHARES-COMMON-STOCK>                            2,794
<SHARES-COMMON-PRIOR>                          336,451
<ACCUMULATED-NII-CURRENT>                     (19,397)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                         19,463
<OVERDISTRIBUTION-GAINS>                             0
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<NET-ASSETS>                                    25,326
<DIVIDEND-INCOME>                                5,373
<INTEREST-INCOME>                               12,753
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<EXPENSES-NET>                                  24,530
<NET-INVESTMENT-INCOME>                        (6,404)
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<APPREC-INCREASE-CURRENT>                    (274,759)
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<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        9,979
<DISTRIBUTIONS-OF-GAINS>                       726,081
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            832
<NUMBER-OF-SHARES-REDEEMED>                    349,641
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<NET-CHANGE-IN-ASSETS>                     (3,667,115)
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<ACCUMULATED-GAINS-PRIOR>                      135,704
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 53,272
<AVERAGE-NET-ASSETS>                         2,885,966
<PER-SHARE-NAV-BEGIN>                            10.97
<PER-SHARE-NII>                                 (6.92)
<PER-SHARE-GAIN-APPREC>                           7.95
<PER-SHARE-DIVIDEND>                            (0.03)
<PER-SHARE-DISTRIBUTIONS>                       (2.91)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.06
<EXPENSE-RATIO>                                   1.88
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000931423
<NAME> 
<SERIES>
   <NUMBER> 4
   <NAME> STALWART U.S. GOVERNMENT SECURITIES FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          NOV-30-1996
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<PERIOD-END>                               MAY-31-1996
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<SENIOR-LONG-TERM-DEBT>                              0
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        18,103
<SHARES-COMMON-STOCK>                            2,400
<SHARES-COMMON-PRIOR>                          656,465
<ACCUMULATED-NII-CURRENT>                        4,958
<OVERDISTRIBUTION-NII>                               0
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<DISTRIBUTIONS-OF-GAINS>                       497,227
<DISTRIBUTIONS-OTHER>                                0
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<NUMBER-OF-SHARES-REDEEMED>                    678,135
<SHARES-REINVESTED>                             21,819
<NET-CHANGE-IN-ASSETS>                     (7,171,439)
<ACCUMULATED-NII-PRIOR>                          5,049
<ACCUMULATED-GAINS-PRIOR>                      163,085
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           11,856
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 62,365
<AVERAGE-NET-ASSETS>                         5,790,023
<PER-SHARE-NAV-BEGIN>                            10.96
<PER-SHARE-NII>                                   2.33
<PER-SHARE-GAIN-APPREC>                         (2.57)
<PER-SHARE-DIVIDEND>                            (0.27)
<PER-SHARE-DISTRIBUTIONS>                       (0.84)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.61
<EXPENSE-RATIO>                                   0.98
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000931423
<NAME> BRIAR FUNDS TRUST/THE STALWART FUNDS
<SERIES>
   <NUMBER> 5
   <NAME> STALWART INCOME FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          NOV-30-1996
<PERIOD-START>                             DEC-01-1995
<PERIOD-END>                               MAY-31-1996
<INVESTMENTS-AT-COST>                                0
<INVESTMENTS-AT-VALUE>                               0
<RECEIVABLES>                                      183
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<OTHER-ITEMS-ASSETS>                             9,607
<TOTAL-ASSETS>                                  40,125
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       15,815
<TOTAL-LIABILITIES>                             15,815
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        21,214
<SHARES-COMMON-STOCK>                            2,494
<SHARES-COMMON-PRIOR>                          545,802
<ACCUMULATED-NII-CURRENT>                        3,096
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
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<NET-ASSETS>                                    24,310
<DIVIDEND-INCOME>                               21,665
<INTEREST-INCOME>                              110,441
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<EXPENSES-NET>                                  25,709
<NET-INVESTMENT-INCOME>                        106,397
<REALIZED-GAINS-CURRENT>                       401,124
<APPREC-INCREASE-CURRENT>                    (385,644)
<NET-CHANGE-FROM-OPS>                          121,877
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      106,581
<DISTRIBUTIONS-OF-GAINS>                       699,760
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          1,389
<NUMBER-OF-SHARES-REDEEMED>                    576,062
<SHARES-REINVESTED>                             31,365
<NET-CHANGE-IN-ASSETS>                     (6,083,937)
<ACCUMULATED-NII-PRIOR>                          9,718
<ACCUMULATED-GAINS-PRIOR>                      291,896
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 56,738
<AVERAGE-NET-ASSETS>                         4,967,397
<PER-SHARE-NAV-BEGIN>                            11.19
<PER-SHARE-NII>                                   1.45
<PER-SHARE-GAIN-APPREC>                         (1.56)
<PER-SHARE-DIVIDEND>                            (0.23)
<PER-SHARE-DISTRIBUTIONS>                       (1.10)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.75
<EXPENSE-RATIO>                                   1.14
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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