We show that faint red stars do not contribute significantly to the mass budget of the Galaxy or to microlensing statistics. Our results are obtained by analyzing two long exposures of a high-latitude field taken with the Wide Field Camera on the newly repaired {\it Hubble Space Telescope}. Stars are easily distinguished from galaxies essentially to the limiting magnitudes of the images. We find five stars with and and no stars with . Therefore, main-sequence stars with that are above the hydrogen-burning limit in the dark halo or the spheroid contribute of the unseen matter. Faint red disk stars, M-dwarfs, contribute at most to the mass of the disk. We parameterize the faint end of the cumulative distribution of stars, , as a function of luminosity , $d\Phi/d \ln L_V \propto L_V^{-\gamma}\gamma<0.326<M_V<17$, with 98% confidence. The disk luminosity function falls, , for . Faint red stars in the disk or thick disk, and stars with in the spheroid contribute to the optical depth to microlensing toward the Large Magellanic Cloud.

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