-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Ie5b0ysa87ah94TT0zyKCoSD1P9WCV8O3qASOW42jdZf2DpjFzOR3ItgmkbZ2oNR
 exWZt7Cn5w+xKwU+8Dv78Q==

<SEC-DOCUMENT>0000791963-01-500013.txt : 20010702
<SEC-HEADER>0000791963-01-500013.hdr.sgml : 20010702
ACCESSION NUMBER:		0000791963-01-500013
CONFORMED SUBMISSION TYPE:	11-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20001231
FILED AS OF DATE:		20010629

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FAHNESTOCK VINER HOLDINGS INC
		CENTRAL INDEX KEY:			0000791963
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				980080034
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		11-K
		SEC ACT:		
		SEC FILE NUMBER:	001-12043
		FILM NUMBER:		1672394

	BUSINESS ADDRESS:	
		STREET 1:		SUITE 1110, P.O. BOX 2015
		STREET 2:		20 EGLINTON AVE. WEST M4R 1K8
		CITY:			TORONTO
		STATE:			A0
		BUSINESS PHONE:		(416)322-1515

	MAIL ADDRESS:	
		STREET 1:		PO BOX 2015 SUITE 1110
		STREET 2:		20 EGLINTON AVENUE WEST
		CITY:			TORONTO M4R 1K8
		STATE:			A6
</SEC-HEADER>
<DOCUMENT>
<TYPE>EX-23
<SEQUENCE>1
<FILENAME>ex2300c.htm
<DESCRIPTION>CONSENT OF INDEPENDENT ACCOUNTANTS
<TEXT>

<!DOCTYPE HTML PUBLIC "-//IETF//DTD HTML//EN">
<HTML>

<head>
<meta name="GENERATOR" content="Microsoft FrontPage 2.0">
<TITLE>ex2300a</TITLE>
</head>

<body bgcolor="#FFFFFF">

<p>&nbsp;</p>

<p>EXHIBIT 23</p>

<p>CONSENT OF INDENPENDENT ACCOUNTANTS</p>

<p>We consent to the inclusion in this Annual Report on Form 11-K
of our report dated June 15, 2001 on our audit of the financial
statements and supplemental schedule of the Fahnestock &amp; Co.,
Inc. 401(k) Plan for the year ended December 31, 2000.</p>

<p>Signed &quot;PricewaterhouseCoopers LLP&quot;</p>

<p>PricewaterhouseCoopers LLP</p>

<p>New York New York</p>

<p>June 28, 2001</p>

<p>&nbsp;</p>
</body>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>11-K
<SEQUENCE>2
<FILENAME>f11k00g.htm
<TEXT>

<!DOCTYPE HTML PUBLIC "-//IETF//DTD HTML//EN">
<HTML>

<head>
<meta name="GENERATOR" content="Microsoft FrontPage 2.0">
<TITLE>F11K00D</TITLE>
</head>

<body bgcolor="#FFFFFF">

<p align="center"><font size="4" face="Arial"><b>SECURITIES AND
EXCHANGE COMMISSION</b></font></p>

<p align="center"><font size="4" face="Arial"><b>WASHINGTON D.C.
20542</b></font></p>

<p align="center"><font size="4" face="Arial"><b>FORM 11-K</b></font></p>

<p align="left"><font size="4" face="Arial"><b>X </b></font><font
face="Arial">ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 for the fiscal year ended
December 31, 2000</font></p>

<p align="left"><font face="Arial">or</font></p>

<p align="left"><font face="Arial">TRANSITION REPORT PURSUANT TO
SECTION 15(d) OF THE SECURITIES EXCHNAGE ACT OF 1934 for the
transition period from --- to ---.</font></p>

<p align="left"><font face="Arial">Commission File No. 1-12043</font></p>

<blockquote>
    <p><font face="Arial">A. Full title of the plan and address
    of the plan, if different from that of the isuer named below:</font></p>
</blockquote>

<p><font face="Arial">FAHNESTOCK &amp; CO., INC. 401(k) PLAN<br>
125 Broad Street<br>
New York NY 10004<br>
U.S.A.</font></p>

<blockquote>
    <p><font face="Arial">B. Name of issuer of the securities
    held pursuant to the plan and the address of its principal
    executive office:</font></p>
</blockquote>

<p><font face="Arial">FAHNESTOCK VINER HOLDINGS INC.<br>
Suite 1110, PO Box 2015<br>
20 Eglinton Avenue West<br>
Toronto ON M4R 1K8<br>
Canada</font></p>

<p>&nbsp;</p>

<p><font size="4" face="Arial">REQUIRED INFORMATION</font></p>

<p><font face="Arial">Item 1. Not applicable</font></p>

<p><font face="Arial">Item 2. Not applicable</font></p>

<p><font face="Arial">Item 3. Not applicable</font></p>

<p><font face="Arial">Item 4. Financial Statements and
Supplemental Information</font></p>

<p>&nbsp;</p>

<p align="center"><font size="4" face="Arial"><b>Fahnestock &amp;
Co., Inc. 401(k) Plan</b></font></p>

<p align="center"><font size="4" face="Arial"><b>Financial
Statements and Schedule</b></font></p>

<p align="center"><font size="4" face="Arial"><b>December 31,
2000 and 1999</b></font></p>

<p><font face="Arial">INDEX / Page(s)</font></p>

<p><font size="3" face="Times New Roman">Report of Independent
Accountants 1</font></p>

<p><font size="3" face="Times New Roman">Financial Statements: </font></p>

<p><font size="3" face="Times New Roman">Statements of Net Assets
Available for Benefits as of December 31, 2000 and 1999 2</font></p>

<p><font size="3" face="Times New Roman">Statement of Changes in
Net Assets Available for Benefits for the Year Ended December 31,
2000 3</font></p>

<p><font size="3" face="Times New Roman">Notes to Financial
Statements 4-8</font></p>

<p><font size="3" face="Times New Roman">Supplemental Schedule </font></p>

<p><font size="3" face="Times New Roman">Schedule I - Item 27a -
Schedule of Assets Held for Investment as of December 31, 2000 9</font></p>

<p>&nbsp;</p>

<p align="center"><font size="3" face="Times New Roman"><b>Report
of Independent Accountants</b></font></p>

<p align="left"><font size="3" face="Times New Roman">To the
Trustees of the Fahnestock &amp; Co., Inc. 401(k) Plan</font></p>

<p align="left"><font size="3" face="Times New Roman">In our
opinion, the accompanying statements of net assets available for
benefits and the related statement of changes in net assets
available for benefits present fairly, in all material respects,
the net assets available for benefits of the Fahnestock &amp;
Co., Inc. 401(k) Plan (the &quot;Plan&quot;) at December 31, 2000
and 1999, and the changes in net assets available for benefits
for the year ended December 31, 2000, in conformity with
accounting principles generally accepted in the United States of
America. These financial statements are the responsibility of the
Plan&#146;s management; our responsibility is to express an
opinion on these financial statements based on our audits. We
conducted our audits of these statements in accordance with
auditing standards generally accepted in the United States of
America, which require that we plan and perform the audit to
obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements, assessing the accounting
principles used and significant estimates made by management, and
evaluating the overall financial statement presentation. We
believe that our audits provide a reasonable basis for our
opinion.</font></p>

<p align="left"><font size="3" face="Times New Roman">Our audits
were conducted for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedule
as listed on the accompanying index is presented for the purpose
of additional analysis and is not a required part of the basic
financial statements but is supplementary information required by
the Department of Labor&#146;s Rules and Regulations for
Reporting and Disclosure under the Employee Retirement Income
Security Act of 1974. This supplemental schedule is the
responsibility of the Plan&#146;s management. The supplemental
schedule has been subjected to the auditing procedures applied in
the audits of the basic financial statements and, in our opinion,
is fairly stated in all material respects in relation to the
basic financial statements taken as a whole.</font></p>

<p align="left"><font size="3" face="Times New Roman">Signed
&quot;PricewaterhouseCoopers LLP&quot;</font></p>

<p align="left"><font size="3" face="Times New Roman">June 15,
2001</font></p>

<p align="left">&nbsp;</p>

<p align="left">&nbsp;</p>

<p align="center"><font size="4">Fahnestock Co., Inc. 401(k) Plan<br>
Statements of Net Assets Available for Benefits</font></p>

<table border="0">
    <tr>
        <td>&nbsp;</td>
        <td align="right" colspan="2"><p align="center">December
        31,</p>
        </td>
    </tr>
    <tr>
        <td>&nbsp;</td>
        <td align="right">2000</td>
        <td align="right">1999</td>
    </tr>
    <tr>
        <td>Assets</td>
        <td align="right">&nbsp;</td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td>Investments, at fair value</td>
        <td align="right">$73,321,982</td>
        <td align="right">$71,995,055</td>
    </tr>
    <tr>
        <td>&nbsp;</td>
        <td align="right">&nbsp;</td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td>Contributions receivable from:</td>
        <td align="right">&nbsp;</td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td>Fahnestock &amp; Co. Inc.</td>
        <td align="right">-</td>
        <td align="right">7,133</td>
    </tr>
    <tr>
        <td>Participants</td>
        <td align="right">358,189</td>
        <td align="right">-</td>
    </tr>
    <tr>
        <td>&nbsp;</td>
        <td align="right">&nbsp;</td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td>Loans receivable from participants</td>
        <td align="right">1,394,480</td>
        <td align="right">1,289,030</td>
    </tr>
    <tr>
        <td>&nbsp;</td>
        <td align="right">&nbsp;</td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td>Accrued income receivable</td>
        <td align="right">39,247</td>
        <td align="right">35,513</td>
    </tr>
    <tr>
        <td>&nbsp;</td>
        <td align="right">&nbsp;</td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td>Total assets</td>
        <td align="right">$75,113,898</td>
        <td align="right">$73,326,731</td>
    </tr>
    <tr>
        <td>&nbsp;</td>
        <td align="right">&nbsp;</td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td>Liabilities</td>
        <td align="right">&nbsp;</td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td>Payable to Fahnestock &amp; Co. Inc.</td>
        <td align="right">575,853</td>
        <td align="right">-</td>
    </tr>
    <tr>
        <td>Total liabilities</td>
        <td align="right">575,852</td>
        <td align="right">-</td>
    </tr>
    <tr>
        <td>&nbsp;</td>
        <td align="right">&nbsp;</td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td>Net assets available for benefits</td>
        <td align="right">$74,538,045</td>
        <td align="right">$73,326,731</td>
    </tr>
    <tr>
        <td>&nbsp;</td>
        <td align="right">&nbsp;</td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td colspan="3"><p align="center">The accompanying notes
        are an integral part of these financial statements.</p>
        </td>
    </tr>
</TABLE>

<p>&nbsp;</p>

<p align="center"><font size="4">Fahnestock &amp; Co., Inc.
401(k) Plan<br>
Statement of Changes in Net Assets Available for Benefits<br>
For the year ended December 31, 2000</font></p>

<table border="0">
    <tr>
        <td>Additions to net assets attributed to:</td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td>Contibutions</td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td>- Participants</td>
        <td align="right">$5,764,822</td>
    </tr>
    <tr>
        <td>- Employer</td>
        <td align="right">2,503,165</td>
    </tr>
    <tr>
        <td>Total contibutions</td>
        <td align="right">8,267,987</td>
    </tr>
    <tr>
        <td>&nbsp;</td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td>Additions (deductions) from net assets attributed to:</td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td>- Net realized and unrealized losses on investments</td>
        <td align="right">$(2,027,553)</td>
    </tr>
    <tr>
        <td>- Interest</td>
        <td align="right">294,308</td>
    </tr>
    <tr>
        <td>- Dividends</td>
        <td align="right">748,215</td>
    </tr>
    <tr>
        <td>Net investment loss</td>
        <td align="right">(985,030)</td>
    </tr>
    <tr>
        <td>&nbsp;</td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td>Benefits paid to participants</td>
        <td align="right">6,071,643</td>
    </tr>
    <tr>
        <td>&nbsp;</td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td>Total deductions</td>
        <td align="right">7,056,673</td>
    </tr>
    <tr>
        <td>&nbsp;</td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td>Net increase in net assets</td>
        <td align="right">1,211,314</td>
    </tr>
    <tr>
        <td>&nbsp;</td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td>Net assets available for benefits</td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td>- Beginning of year</td>
        <td align="right">73,326,731</td>
    </tr>
    <tr>
        <td>- End of year</td>
        <td align="right"><p align="right">$74,538,045</p>
        </td>
    </tr>
    <tr>
        <td>&nbsp;</td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td align="center" colspan="2">The accompanying notes are
        an integral part of these financial statements.</td>
    </tr>
</TABLE>

<p>&nbsp;</p>

<p><font size="3" face="Times New Roman"><b>NOTES TO FINANCIAL
STATEMENTS</b></font></p>

<p><font size="3" face="Times New Roman"><b>1. Description of the
Plan</b></font></p>

<blockquote>
    <blockquote>
        <p><font size="3" face="Times New Roman">The following
        description of the Fahnestock &amp; Co., Inc. 401(k) Plan
        (the &quot;Plan&quot;) provides only general information.
        Participants should refer to the plan agreement for a
        more complete description of the Plan&#146;s provisions.</font></p>
        <p><font size="3" face="Times New Roman"><b>General<br>
        </b>The Plan was established on January&nbsp;1, 1987 and
        was amended and restated to add a profit-sharing
        provision effective January&nbsp;1, 1991. The Plan was
        subsequently amended effective January 1, 1998 to change
        the rates used in computing the discretionary profit
        sharing contribution from Fahnestock &amp; Co., Inc. (the
        &quot;Company&quot;).</font></p>
        <p><font size="3" face="Times New Roman">Effective
        January 1, 1999, employees of the First of Michigan
        Division of the Company became eligible to participate in
        the Plan.</font></p>
        <p><font size="3" face="Times New Roman">Employees of the
        Company who are 21 and have completed one year of service
        shall be eligible to receive an allocation of the
        discretionary profit sharing contribution. Employees of
        the Company who are 21 and have completed six months of
        service shall be eligible to make elective deferrals into
        the Plan.</font></p>
        <p><font size="3" face="Times New Roman"><b>Allocation
        provisions<br>
        </b>Under the terms of the Plan, the individual makes all
        investment decisions with respect to his/her account
        balance, subject to available investment alternatives.
        Participants should refer to the respective fund
        prospectus for a more complete description of the
        investment objectives. These investment alternatives
        include:</font></p>
        <p><font size="3" face="Times New Roman">Bond Fund -
        Funds are invested in U.S. government and high quality
        U.S. corporate securities.</font></p>
        <p><font size="3" face="Times New Roman">Money Market
        Fund - Funds are invested in the Fahnestock Prime Cash
        Series Fund.</font></p>
        <p><font size="3" face="Times New Roman">Vanguard Index
        Trust Fund - Funds are invested in shares of a registered
        investment company that invests in large capitalization
        stocks that is designed to replicate the performance of
        the Standard and Poors 500 Index.</font></p>
        <p><font size="3" face="Times New Roman">AIM Value Fund -
        Funds are invested in shares of a registered investment
        company that seeks long term growth by investing in under
        valued securities.</font></p>
        <p><font size="3" face="Times New Roman">MFS Emerging
        Growth Fund - Funds are invested in shares of a
        registered investment company that seeks long term growth
        by primarily investing in stocks of small and emerging
        companies.</font></p>
        <p><font size="3" face="Times New Roman">Templeton World
        Fund - Funds are invested in shares of a registered
        investment company that seeks long term growth by
        investing in companies throughout the world.</font></p>
        <p><font size="3" face="Times New Roman">Putnam Fund for
        Growth and Income - Funds are invested in shares of a
        registered investment company that seeks capital growth
        and current income.</font></p>
        <p><font size="3" face="Times New Roman">Certificate of
        Deposit Fund - Funds are invested in certificates of
        deposits and the Fahnestock Prime Cash Series Fund.</font></p>
        <p><font size="3" face="Times New Roman">Fahnestock Viner
        Holdings Inc. Common Stock Fund - Funds are invested in
        common stock of the Company&#146;s parent, Fahnestock
        Viner Holdings Inc.</font></p>
        <p><font size="3" face="Times New Roman">Ivy U.S.
        Emerging Growth Fund - Funds are invested in shares of a
        registered investment company that seeks long-term
        capital growth primarily through investment in equity
        securities. The assets of the Hudson Capital Appreciation
        Fund were merged into the Ivy U.S. Emerging Growth Fund
        in 1999.</font></p>
        <p><font size="3" face="Times New Roman"><b>Company
        contributions<br>
        </b>As discussed above, the Company may contribute to the
        Plan a discretionary profit-sharing amount (the
        &quot;Employer Regular Contribution&quot;). The Employer
        Regular Contribution is determined by its Board of
        Directors and is subject to guidelines set forth in the
        Plan description.</font></p>
        <p><font size="3" face="Times New Roman">Employer Regular
        Contributions for the year ending December 31, 2000 were
        determined as follows: <br>
        2.2% of the first $30,000 of a participant&#146;s
        compensation;<br>
        5.2% of the next $10,000 of a participant&#146;s
        compensation;6.0% of the next $25,000 of a
        participant&#146;s compensation;<br>
        6.4% of the next $35,000 of a participant&#146;s
        compensation;<br>
        2.95% of the next $60,000 of a participant&#146;s
        compensation; and<br>
        0% above $160,000 of a participant&#146;s compensation.</font></p>
        <p><font size="3" face="Times New Roman">If participants
        elect to receive their Employer Regular Contribution in
        the form of common stock of Fahnestock Viner Holdings
        Inc. (&quot;Holdings&quot;), the Company may make an
        additional contribution of Holdings common stock up to or
        equal to 15 percent of the purchase price of the common
        stock (the &quot;Employer Stock Contribution&quot;) at
        the discretion of the Directors of the Board. For the
        year ended December 31, 2000 the total Company
        contribution was approximately $2,503,000 plus
        approximately $188,000 which was contributed by the
        Company as an Employer Stock Contribution from forfeited
        accounts.</font></p>
        <p><font size="3" face="Times New Roman">Employees may
        make salary deferral contributions of up to 14% of
        compensation. Current law limits participant deferrals to
        $10,500 for the plan year ended December&nbsp;31, 2000.</font></p>
        <p><font size="3" face="Times New Roman"><b>Vesting<br>
        </b>All participants are immediately and fully vested in
        all Employee Elective Deferrals and the income derived
        from the investment of such contributions.</font></p>
        <p><font size="3" face="Times New Roman">Participants
        will be vested in Employer Regular Contributions plus the
        income thereon upon the completion of service with the
        Company or an affiliate at the following rate:<br>
        Less than 3 years of service 0%<br>
        After 3 years of service 20%<br>
        After 4 years of service 40%<br>
        After 5 years of service 60%<br>
        After 6 years of service 80%<br>
        After 7 years of service 100%</font></p>
        <p>All years of service with the Company or an affiliate
        are counted to determine a participant&#146;s
        nonforfeitable percentage except years of service before
        the Plan was restated in 1991. Participants will be 100
        percent vested in the additional portion of the Employer
        Stock Contributions only upon completion of 5 years
        service.</p>
        <p><font size="3" face="Times New Roman">At December 31,
        2000, forfeited nonvested accounts totaled approximately
        $939,000. These accounts will be used to reduce future
        employer contributions. The 2000 employer contributions
        included approximately $188,000 from forfeited nonvested
        accounts.</font></p>
        <p><font size="3" face="Times New Roman">Company
        Qualified Matching and Qualified Non-Elective
        Contributions as defined in the Plan document, if
        required, are fully vested when made. No payments under
        these provisions were required during the year ended
        December 31, 2000.</font></p>
        <p><font size="3" face="Times New Roman">Notwithstanding
        the vesting schedules specified above, with respect to
        retirement, a participant&#146;s right to his or her
        accounts will be nonforfeitable upon the attainment of:
        the later of age 65 or the fifth anniversary of the
        participation commencement date; death; or disability, as
        defined.</font></p>
        <p><font size="3" face="Times New Roman"><b>Payment of
        benefits<br>
        </b>Payment of vested benefits under the Plan will be
        made in the event of a participant&#146;s termination of
        employment, death, retirement, or financial hardship and
        may be paid in either a lump-sum distribution or over a
        certain period of time as determined by IRS rules or by
        participant election.</font></p>
        <p><font size="3" face="Times New Roman"><b>Loans to
        participants<br>
        </b>Loans are made available to all participants. Loans
        must be adequately collateralized using not more than
        fifty percent of the participant&#146;s vested account
        balance and bear a fixed interest rate of 8%. Loan
        principal and interest payments are applied to fund
        balances from which proceeds were drawn unless otherwise
        specified by the participant.</font></p>
        <p><font size="3" face="Times New Roman"><b>Income tax
        status<br>
        </b>The Plan received a determination letter on
        August&nbsp;2, 1994, from the Internal Revenue Service
        (IRS) qualifying the Plan under the IRS code as exempt
        from Federal income taxes. The Plan has been amended
        since receiving the determination letter. However, the
        Plan administrator believes that the Plan continues to be
        designed and operated in compliance with the applicable
        requirements of the Internal Revenue Code.</font></p>
    </blockquote>
</blockquote>

<p><font size="3" face="Times New Roman"><b>2. Significant
Accounting Policies</b></font></p>

<blockquote>
    <blockquote>
        <p><font size="3" face="Times New Roman">Securities
        transactions are recorded on a trade date basis with
        gains and losses reflected in income. Interest and
        dividend income are recorded on the accrual basis.</font></p>
        <p><font size="3" face="Times New Roman">Investments are
        stated at fair value, based on quoted market prices for
        valuation of common stock, debt obligations, and mutual
        funds. Assets held in money market accounts are valued at
        cost which approximates fair value.</font></p>
        <p><font size="3" face="Times New Roman">Benefits are
        recorded when paid.</font></p>
        <p><font size="3" face="Times New Roman">The Plan
        presents in the statement of changes in net assets
        available for benefits the net depreciation in the fair
        value of its investments which consists of the realized
        gains or losses and the unrealized appreciation
        (depreciation) on those investments.</font></p>
        <p><font size="3" face="Times New Roman">The preparation
        of financial statements in conformity with generally
        accepted accounting principles requires management to
        make estimates and assumptions that affect the reported
        amounts of assets and liabilities and disclosure of
        contingent assets and liabilities at the dates of the
        financial statements and the reported amounts of
        additions and contribution to, and deductions from net
        assets during the reporting period. Actual results could
        differ from those estimates.</font></p>
        <p><font size="3" face="Times New Roman">The Plan
        provides for various investment options in any
        combination of stocks, bonds, fixed income securities,
        mutual funds, and other investment securities. Investment
        securities are subject to interest rate, market, foreign
        exchange and credit risks.</font></p>
        <p><font size="3" face="Times New Roman">Due to the risk
        associated with certain investment securities and the
        level of uncertainty related to changes in the value of
        investment securities, it is at least reasonably possible
        that changes in the near term could materially affect
        participants&#146; account balances and the amounts
        reported in the statements of net assets available for
        benefits and the statement of changes in net assets
        available for benefits.</font></p>
    </blockquote>
</blockquote>

<p><font size="3" face="Times New Roman"><b>3. Related Parties</b></font></p>

<blockquote>
    <blockquote>
        <p><font size="3" face="Times New Roman">The Company acts
        as investment advisor and administrator. It is the
        custodian of the Plan assets in the Bond Fund, the Money
        Market Fund, the Certificate of Deposit Fund, and the
        Fahnestock Viner Holdings Inc. Common Stock Fund. The
        Company executes the Plan&#146;s transactions, and
        provides accounting and other administrative services for
        which no charge is made to the Plan.</font></p>
        <p><font size="3" face="Times New Roman">The Trustees of
        the Plan are also officers and directors of the Company.</font></p>
    </blockquote>
</blockquote>

<p><font size="3" face="Times New Roman"><b>4. Concentration of
Investments</b></font></p>

<blockquote>
    <blockquote>
        <p><font size="3" face="Times New Roman">The following
        investments represent 5% or more of net assets available
        for plan benefits as of December 31, 2000:</font></p>
        <table border="0">
            <tr>
                <td>&nbsp;</td>
                <td align="right">Market Value</td>
                <td align="right">Percent of Net<br>
                Assets Available<br>
                for Plan Benefits</td>
            </tr>
            <tr>
                <td>Fahnestock Prime Cash Series</td>
                <td align="right">&nbsp;</td>
                <td align="right">&nbsp;</td>
            </tr>
            <tr>
                <td>Held by:</td>
                <td align="right">&nbsp;</td>
                <td align="right">&nbsp;</td>
            </tr>
            <tr>
                <td>- Money Market Fund</td>
                <td align="right">$7,490,123</td>
                <td align="right">&nbsp;</td>
            </tr>
            <tr>
                <td>- Bond Fund</td>
                <td align="right">177,969</td>
                <td align="right">&nbsp;</td>
            </tr>
            <tr>
                <td>- Certificate of Deposit Fund</td>
                <td align="right">112,793</td>
                <td align="right">&nbsp;</td>
            </tr>
            <tr>
                <td>Total Fahnestock Prime Cash Series</td>
                <td align="right">7,780,885</td>
                <td align="right">10.44%</td>
            </tr>
            <tr>
                <td>Fahnestock Viner Holdings Inc. - Common Stock
                Fund</td>
                <td align="right">16,708,530</td>
                <td align="right">22.42%</td>
            </tr>
            <tr>
                <td>Vanguard Index Trust Fund</td>
                <td align="right">10,927,871</td>
                <td align="right">14.66%</td>
            </tr>
            <tr>
                <td>AIM Value Fund</td>
                <td align="right">12,397,737</td>
                <td align="right">16.63%</td>
            </tr>
            <tr>
                <td>MFS Emerging Growth Fund</td>
                <td align="right">8,864,535</td>
                <td align="right">11.89%</td>
            </tr>
            <tr>
                <td>Templeton World Fund</td>
                <td align="right">5,254,971</td>
                <td align="right">7.05%</td>
            </tr>
            <tr>
                <td>Ivy U.S. Emerging Growth Fund</td>
                <td align="right">5,072,905</td>
                <td align="right">6.81%</td>
            </tr>
        </TABLE>
        <p>&nbsp;</p>
    </blockquote>
</blockquote>

<p><font size="3" face="Times New Roman"><b>5. Plan Termination</b></font></p>

<blockquote>
    <blockquote>
        <p><font size="3" face="Times New Roman">Although it has
        not expressed any intent to do so, the Company has the
        right under the Plan to discontinue its contributions at
        any time and to terminate the Plan subject to the
        provisions of the Employee Retirement Income Security Act
        of 1974 (&quot;ERISA&quot;). In the event of Plan
        termination, participants will become 100 percent vested
        in their contributions and related investment earnings.</font></p>
    </blockquote>
</blockquote>

<p><font size="3" face="Times New Roman"><b>6. Subsequent Events</b></font></p>

<blockquote>
    <blockquote>
        <p><font size="3" face="Times New Roman">In January 2001
        the Plan invested the employer contribution in accordance
        with the participants&#146; elections.</font></p>
    </blockquote>
</blockquote>

<p align="left"><font size="4"><strong>Fahnestock &amp; Co., Inc.
401(k) Plan<br>
Item 27a - Schedule of Assets Held for Investment Purposes<br>
December 31, 2000</strong></font></p>

<p align="right"><font size="3"><strong>Schedule I</strong></font></p>

<table border="0">
    <tr>
        <td>Description</td>
        <td align="right">Fair or Stated Value</td>
    </tr>
    <tr>
        <td><strong>Bond Fund</strong></td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td>Fahnestock Prime Cash Series Fund</td>
        <td align="right">$177,969</td>
    </tr>
    <tr>
        <td>Notes:</td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td>U.S. Treasury Notes , 6.625% due July 31, 2001</td>
        <td align="right">150,796</td>
    </tr>
    <tr>
        <td>U.S. Treasury Notes, 7.5% due May 15, 2002</td>
        <td align="right">102,781</td>
    </tr>
    <tr>
        <td>U.S. Treasury Notes, 6.0%, due July 31, 2002</td>
        <td align="right">101,063</td>
    </tr>
    <tr>
        <td>U.S. Treasury Notes, 6.25% due February 15, 2003</td>
        <td align="right">102,125</td>
    </tr>
    <tr>
        <td>U.S. Treasury Notes, 5.75% due August 15, 2003</td>
        <td align="right">101,500</td>
    </tr>
    <tr>
        <td>U.S. Treasury Notes, 7.25% due May 15, 2004</td>
        <td align="right">106,438</td>
    </tr>
    <tr>
        <td>U.S. Treasury Notes, 7.25% due August 15, 2004</td>
        <td align="right">133,594</td>
    </tr>
    <tr>
        <td>U.S. Treasury Notes, 6.50% due August 15. 2005</td>
        <td align="right">158,625</td>
    </tr>
    <tr>
        <td>U.S. Treasury Notes, 5.875% due November 15, 2005</td>
        <td align="right">103,406</td>
    </tr>
    <tr>
        <td>U.S. Treasury Notes, 6.50% due October 15, 2006</td>
        <td align="right">266,798</td>
    </tr>
    <tr>
        <td>U.S. Treasury Notes, 6.25% due February 15, 2007</td>
        <td align="right">105,688</td>
    </tr>
    <tr>
        <td>U.S. Treasury Notes, 6.125% due August 15, 2007</td>
        <td align="right">105,281</td>
    </tr>
    <tr>
        <td>U.S. Treasury Notes, 5.625% due May 15, 2008</td>
        <td align="right">102,719</td>
    </tr>
    <tr>
        <td>Total Notes</td>
        <td align="right">1,640,814</td>
    </tr>
    <tr>
        <td>Corporate Bonds:</td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td>Wells Fargo Company, 7.20% May 1, 2003</td>
        <td align="right">102,400</td>
    </tr>
    <tr>
        <td>Campbell Soup Company, 4.75% October 1, 2003</td>
        <td align="right">96,349</td>
    </tr>
    <tr>
        <td>Bank of America Corporation, 7.625% June 15, 2004</td>
        <td align="right">103,610</td>
    </tr>
    <tr>
        <td>GTE North Inc., 6.4% Fenruary 15, 2005</td>
        <td align="right">99,824</td>
    </tr>
    <tr>
        <td>Total Corporate Bonds</td>
        <td align="right">402,183</td>
    </tr>
    <tr>
        <td>Total Bond Fund</td>
        <td align="right">2,220,966</td>
    </tr>
    <tr>
        <td>&nbsp;</td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td><strong>Fahnestock Viner Holdings Inc. - Common Stock
        Fund</strong></td>
        <td align="right">16,708,530</td>
    </tr>
    <tr>
        <td>&nbsp;</td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td><strong>Vanguard Index Trust Fund</strong></td>
        <td align="right">10,927,871</td>
    </tr>
    <tr>
        <td>&nbsp;</td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td><strong>Money Market Fund:</strong></td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td>Fahnestock Prime Cash Series Fund</td>
        <td align="right">7,490,123</td>
    </tr>
    <tr>
        <td>&nbsp;</td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td><strong>Certificate of Deposit (&quot;C.D.&quot;)
        Fund:</strong></td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td>Fahnestock Prime Cash Series Fund</td>
        <td align="right">112,793</td>
    </tr>
    <tr>
        <td>Merrick BC Murray C.D. 5.5% due May 29, 2001</td>
        <td align="right">1,295,000</td>
    </tr>
    <tr>
        <td>Total C.D. Fuund</td>
        <td align="right">1,407,793</td>
    </tr>
    <tr>
        <td>&nbsp;</td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td><strong>Ivy U.S. Emerging Growth Fund</strong></td>
        <td align="right">5,072,905</td>
    </tr>
    <tr>
        <td>&nbsp;</td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td><strong>AIM Value Fund</strong></td>
        <td align="right">12,397,737</td>
    </tr>
    <tr>
        <td>&nbsp;</td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td><strong>MFS Emerging Growth Fund</strong></td>
        <td align="right">8,864,535</td>
    </tr>
    <tr>
        <td>&nbsp;</td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td><strong>Templeton World Fund</strong></td>
        <td align="right">5,254,971</td>
    </tr>
    <tr>
        <td>&nbsp;</td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td><strong>Putnam Fund for Growth and Income</strong></td>
        <td align="right">2,976,551</td>
    </tr>
    <tr>
        <td>&nbsp;</td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td>Total invesments</td>
        <td align="right">73,321,982</td>
    </tr>
    <tr>
        <td>&nbsp;</td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td>Participant Loans (151 participants at 8% maturing
        January 2001 - May 2025)</td>
        <td align="right">1,394,480</td>
    </tr>
    <tr>
        <td>&nbsp;</td>
        <td align="right">&nbsp;</td>
    </tr>
    <tr>
        <td>Total assets held for investment</td>
        <td align="right">$74,716,462</td>
    </tr>
</TABLE>

<p align="right">&nbsp;</p>

<p align="center"><strong>SIGNATURES</strong></p>

<p>Pursuant to the requirements of the Securities Exchange Act of
1934, the Trustees for the Fahnestock &amp; Co., Inc. 401(k) Plan
have duly caused this annual report to be signed on their behalf
by the undersigned thereunto duly authorized.</p>

<p>FAHNESTOCK &amp; CO., INC. 401(k) PLAN</p>

<p>signed &quot;A.G. Lowenthal&quot;<br>
Albert G. Lowenthal, as Trustee of the<br>
Fahnestock &amp; Co., Inc. 401(k) Plan</p>

<p>Date: June 28, 2001</p>

<p align="center"><strong>EXHIBIT INDEX</strong></p>

<p align="left">Exhibit 23 Consent of Independent Accountants</p>
</body>
</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
