<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
<ACCUM-APPREC-OR-DEPREC> 55,452,181
<NET-ASSETS> 968,849,131
<DIVIDEND-INCOME> 7,938,660
<INTEREST-INCOME> 635,526
<OTHER-INCOME> 0
<EXPENSES-NET> (3,847,207)
<NET-INVESTMENT-INCOME> 4,726,979
<REALIZED-GAINS-CURRENT> 68,007,967
<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
<NUMBER-OF-SHARES-SOLD> 5,363,907
<NUMBER-OF-SHARES-REDEEMED> 4,261,408
<SHARES-REINVESTED> 54,320
<NET-CHANGE-IN-ASSETS> 9,322,017
<ACCUMULATED-NII-PRIOR> 117,845
<ACCUMULATED-GAINS-PRIOR> 5,119,623
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<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>