STEADMAN ASSOCIATED FUND
NSAR-A, 1996-02-21
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<PAGE>      PAGE  1
000 A000000 12/31/95
000 C000000 0000093839
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 U
001 A000000 STEADMAN ASSOCIATED FUND
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001 C000000 2022231000
002 A000000 1730 K STREET
002 B000000 WASHINGTON
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<PAGE>      PAGE  3
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<PAGE>      PAGE  4
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<PAGE>      PAGE  5
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SIGNATURE   MAX KATCHER                                  
TITLE       EVP                 
 


<TABLE> <S> <C>

<PAGE>
<ARTICLE> 6
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUN-30-1995
<PERIOD-END>                               DEC-31-1995
<INVESTMENTS-AT-COST>                        4,075,148
<INVESTMENTS-AT-VALUE>                       4,336,250
<RECEIVABLES>                                    2,425
<ASSETS-OTHER>                                 355,305
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               4,693,980
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       35,326
<TOTAL-LIABILITIES>                             35,326
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    10,250,449
<SHARES-COMMON-STOCK>                        7,187,084
<SHARES-COMMON-PRIOR>                        7,875,815
<ACCUMULATED-NII-CURRENT>                   (4,463,794)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                     (1,389,104)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       261,103
<NET-ASSETS>                                 4,658,654
<DIVIDEND-INCOME>                               15,207
<INTEREST-INCOME>                                6,030
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 237,507
<NET-INVESTMENT-INCOME>                       (216,270)
<REALIZED-GAINS-CURRENT>                       255,063
<APPREC-INCREASE-CURRENT>                     (609,670)
<NET-CHANGE-FROM-OPS>                         (570,877)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
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<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                      (1,076,467)
<ACCUMULATED-NII-PRIOR>                     (4,247,524)
<ACCUMULATED-GAINS-PRIOR>                   (1,644,167)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           27,953
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                237,507
<AVERAGE-NET-ASSETS>                         5,546,187
<PER-SHARE-NAV-BEGIN>                              .73
<PER-SHARE-NII>                                   (.03)
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<PER-SHARE-NAV-END>                                .65
<EXPENSE-RATIO>                                   8.56
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>


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