ICAP FUNDS INC
NSAR-A, EX-27, 2000-08-30
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<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000932510
<NAME> ICAP FUNDS, INC
<SERIES>
   <NUMBER> 4
   <NAME> ICAP SELECT EQUITY PORTFOLIO

<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-2000
<PERIOD-START>                             JAN-01-2000
<PERIOD-END>                               JUN-30-2000
<INVESTMENTS-AT-COST>                       22,854,191
<INVESTMENTS-AT-VALUE>                      24,863,078
<RECEIVABLES>                                   39,626
<ASSETS-OTHER>                                   8,649
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              24,911,353
<PAYABLE-FOR-SECURITIES>                       104,504
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       94,726
<TOTAL-LIABILITIES>                            199,230
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    21,125,388
<SHARES-COMMON-STOCK>                          869,333
<SHARES-COMMON-PRIOR>                          853,653
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      1,577,848
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     2,008,887
<NET-ASSETS>                                24,712,123
<DIVIDEND-INCOME>                              188,685
<INTEREST-INCOME>                               18,316
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                (97,273)
<NET-INVESTMENT-INCOME>                        109,728
<REALIZED-GAINS-CURRENT>                     2,002,023
<APPREC-INCREASE-CURRENT>                  (1,596,980)
<NET-CHANGE-FROM-OPS>                          514,771
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (110,215)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        183,784
<NUMBER-OF-SHARES-REDEEMED>                    170,009
<SHARES-REINVESTED>                              1,905
<NET-CHANGE-IN-ASSETS>                         890,812
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                    (423,688)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           97,272
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                173,983
<AVERAGE-NET-ASSETS>                        24,450,784
<PER-SHARE-NAV-BEGIN>                            27.91
<PER-SHARE-NII>                                    .13
<PER-SHARE-GAIN-APPREC>                            .52
<PER-SHARE-DIVIDEND>                             (.13)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              28.43
<EXPENSE-RATIO>                                    .80


</TABLE>


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