<PAGE> PAGE 1
000 A000000 03/31/2000
000 C000000 0001061390
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 U
001 A000000 THE AVALON FUND OF ANN ARBOR, INC.
001 B000000 811-08773
001 C000000 8772282566
002 A000000 1350 HIGHLAND DRIVE, SUITE A
002 B000000 ANN ARBOR
002 C000000 MI
002 D010000 48108
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 1
007 C010100 1
007 C020100 THE AVALON CAPITAL APPRECIATION FUND
007 C030100 N
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
020 A000001 DONALDSON LUFKIN & JENRETTE
020 B000001 13-2741729
020 C000001 5
020 A000002 ROBERTSON COLEMAN
020 C000002 1
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 6
022 A000001 FIRST UNION BANK
022 B000001 56-1252143
022 C000001 2798
<PAGE> PAGE 2
022 D000001 0
022 C000002 0
022 D000002 0
022 C000003 0
022 D000003 0
022 C000004 0
022 D000004 0
022 C000005 0
022 D000005 0
022 C000006 0
022 D000006 0
022 C000007 0
022 D000007 0
022 C000008 0
022 D000008 0
022 C000009 0
022 D000009 0
022 C000010 0
022 D000010 0
023 C000000 2798
023 D000000 0
028 A01AA00 74
028 A02AA00 0
028 A03AA00 74
028 A04AA00 1
028 B01AA00 221
028 B02AA00 0
028 B03AA00 221
028 B04AA00 0
028 C01AA00 700
028 C02AA00 0
028 C03AA00 700
028 C04AA00 56
028 D01AA00 585
028 D02AA00 0
028 D03AA00 585
028 D04AA00 2
028 E01AA00 296
028 E02AA00 0
028 E03AA00 296
028 E04AA00 5
028 F01AA00 992
028 F02AA00 0
028 F03AA00 992
028 F04AA00 9
028 G01AA00 2868
028 G02AA00 0
028 G03AA00 2868
028 G04AA00 73
028 H00AA00 2750
029 00AA00 Y
<PAGE> PAGE 3
030 A00AA00 0
030 B00AA00 4.75
030 C00AA00 0.00
031 A00AA00 0
031 B00AA00 0
032 00AA00 0
033 00AA00 0
042 A00AA00 0
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042 D00AA00 0
042 E00AA00 0
042 F00AA00 0
042 G00AA00 100
042 H00AA00 0
043 00AA00 15
044 00AA00 0
062 A00AA00 N
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062 C00AA00 0.0
062 D00AA00 0.0
062 E00AA00 0.0
062 F00AA00 0.0
062 G00AA00 0.0
062 H00AA00 0.0
062 I00AA00 0.0
062 J00AA00 0.0
062 K00AA00 0.0
062 L00AA00 0.0
062 M00AA00 0.0
062 N00AA00 0.0
062 O00AA00 0.0
062 P00AA00 0.0
062 Q00AA00 0.0
062 R00AA00 0.0
066 A00AA00 Y
066 B00AA00 N
066 C00AA00 Y
066 D00AA00 N
066 E00AA00 N
066 F00AA00 N
066 G00AA00 N
067 00AA00 N
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
071 A00AA00 2818
071 B00AA00 856
071 C00AA00 2351
071 D00AA00 36
072 A00AA00 6
<PAGE> PAGE 4
072 B00AA00 7
072 C00AA00 1
072 D00AA00 0
072 E00AA00 0
072 F00AA00 7
072 G00AA00 0
072 H00AA00 0
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072 K00AA00 0
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072 R00AA00 0
072 S00AA00 0
072 T00AA00 15
072 U00AA00 0
072 V00AA00 0
072 W00AA00 21
072 X00AA00 43
072 Y00AA00 0
072 Z00AA00 -35
072AA00AA00 16
072BB00AA00 0
072CC01AA00 1236
072CC02AA00 0
072DD01AA00 0
072DD02AA00 0
072EE00AA00 0
073 A01AA00 0.0000
073 A02AA00 0.0000
073 B00AA00 0.0000
073 C00AA00 0.0000
074 A00AA00 376
074 B00AA00 0
074 C00AA00 0
074 D00AA00 0
074 E00AA00 0
074 F00AA00 4175
074 G00AA00 0
074 H00AA00 0
074 I00AA00 502
074 J00AA00 0
074 K00AA00 0
074 L00AA00 114
074 M00AA00 0
074 N00AA00 5167
074 O00AA00 0
<PAGE> PAGE 5
074 P00AA00 9
074 Q00AA00 0
074 R01AA00 0
074 R02AA00 0
074 R03AA00 0
074 R04AA00 21
074 S00AA00 0
074 T00AA00 5137
074 U01AA00 246
074 U02AA00 0
074 V01AA00 20.86
074 V02AA00 0.00
074 W00AA00 0.0000
074 X00AA00 307
074 Y00AA00 0
075 A00AA00 0
075 B00AA00 2939
076 00AA00 0.00
077 A000000 N
080 C00AA00 0
081 B00AA00 0
082 B00AA00 0
SIGNATURE JOHN GAKENHEIMER
TITLE VICE PRESIDENT
