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> 1
   <NAME> ICAP DISCRETIONARY 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>                      186,603,495
<INVESTMENTS-AT-VALUE>                     197,243,869
<RECEIVABLES>                                  833,918
<ASSETS-OTHER>                                  26,715
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             198,104,502
<PAYABLE-FOR-SECURITIES>                     2,364,279
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      731,000
<TOTAL-LIABILITIES>                          3,095,279
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   163,413,866
<SHARES-COMMON-STOCK>                        6,029,292
<SHARES-COMMON-PRIOR>                        6,592,045
<ACCUMULATED-NII-CURRENT>                       42,735
<OVERDISTRIBUTION-NII>                               0
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<OTHER-INCOME>                                       0
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<NET-INVESTMENT-INCOME>                      1,090,951
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<APPREC-INCREASE-CURRENT>                 (30,720,569)
<NET-CHANGE-FROM-OPS>                      (7,405,377)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                  (1,078,142)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        409,903
<NUMBER-OF-SHARES-REDEEMED>                    987,266
<SHARES-REINVESTED>                             14,610
<NET-CHANGE-IN-ASSETS>                    (27,101,805)
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<ACCUMULATED-GAINS-PRIOR>                  (1,311,993)
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<GROSS-ADVISORY-FEES>                          838,222
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                997,741
<AVERAGE-NET-ASSETS>                       210,692,566
<PER-SHARE-NAV-BEGIN>                            33.69
<PER-SHARE-NII>                                    .18
<PER-SHARE-GAIN-APPREC>                         (1.35)
<PER-SHARE-DIVIDEND>                             (.18)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              32.34
<EXPENSE-RATIO>                                    .80


</TABLE>


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