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> 2
   <NAME> ICAP 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>                      921,468,715
<INVESTMENTS-AT-VALUE>                     976,920,896
<RECEIVABLES>                                8,522,523
<ASSETS-OTHER>                                  26,232
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             985,469,651
<PAYABLE-FOR-SECURITIES>                    13,930,361
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    2,690,159
<TOTAL-LIABILITIES>                         16,620,520
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   840,041,421
<SHARES-COMMON-STOCK>                       23,400,176
<SHARES-COMMON-PRIOR>                       22,243,357
<ACCUMULATED-NII-CURRENT>                      227,939
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                     73,127,590
<OVERDISTRIBUTION-GAINS>                             0
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<EXPENSES-NET>                             (3,847,207)
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<APPREC-INCREASE-CURRENT>                (112,238,796)
<NET-CHANGE-FROM-OPS>                     (39,503,850)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                  (4,617,055)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
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<SHARES-REINVESTED>                             54,320
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<GROSS-ADVISORY-FEES>                        3,847,207
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              4,147,814
<AVERAGE-NET-ASSETS>                       966,923,329
<PER-SHARE-NAV-BEGIN>                            43.14
<PER-SHARE-NII>                                    .20
<PER-SHARE-GAIN-APPREC>                         (1.74)
<PER-SHARE-DIVIDEND>                             (.20)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              41.40
<EXPENSE-RATIO>                                    .80


</TABLE>


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