<PAGE> PAGE 1
000 A000000 05/31/96
000 C000000 0000019614
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 THE ALLIANCE FUND
001 B000000 811-00204
001 C000000 2013194000
002 A000000 500 PLAZA DRIVE
002 B000000 SECAUCUS
002 C000000 NJ
002 D010000 07094
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
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
008 A000001 ALLIANCE CAPITAL MANAGEMENT L.P.
008 B000001 A
008 C000001 801-32361
008 D010001 NEW YORK
008 D020001 NY
008 D030001 10105
010 A000001 ALLIANCE CAPITAL MANAGEMENT L.P.
010 B000001 801-32361
010 C010001 NEW YORK
010 C020001 NY
010 C030001 10105
011 A000001 ALLIANCE FUND DISTRIBUTORS, INC.
011 B000001 8-30851
011 C010001 SECAUCUS
011 C020001 NJ
011 C030001 07094
012 A000001 ALLIANCE FUND SERVICES, INC.
012 B000001 84-0001187
012 C010001 SECAUCUS
<PAGE> PAGE 2
012 C020001 NJ
012 C030001 07094
013 A000001 PRICE WATERHOUSE LLP
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10036
013 B040001 2798
014 A000001 DONALDSON LUFKIN & JENRETTE SECURITIES CORP.
014 B000001 8-00017574
014 A000002 PERSHING
014 B000002 8-00017574
014 A000003 AUTRONET
014 B000003 8-00017574
015 A000001 STATE STREET BANK AND TRUST CO.
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02110
015 E010001 X
015 A000002 MERITA BANK
015 B000002 S
015 C010002 HELSINKI
015 D010002 FINLAND
015 E040002 X
015 A000003 THE CANADA TRUST CO.
015 B000003 S
015 C010003 TORONTO
015 D010003 CANADA
015 E040003 X
015 A000004 SKANDINAVISKA ENSKILDA BANKEN
015 B000004 S
015 C010004 STOCKHOLM
015 D010004 SWEDEN
015 E040004 X
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019 A000000 Y
019 B000000 49
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020 A000001 MORGAN STANLEY & CO., INC.
020 B000001 13-2655998
020 C000001 94
020 A000002 MERRILL LYNCH PIERCE FENNER & SMITH
020 B000002 13-5674085
020 C000002 76
020 A000003 SMITH BARNEY
020 B000003 13-1912900
020 C000003 69
020 A000004 LEHMAN BROTHERS INC.
020 B000004 13-2518466
020 C000004 68
020 A000005 PAINE WEBBER INC.
<PAGE> PAGE 3
020 B000005 13-2638166
020 C000005 66
020 A000006 SALOMON BROTHERS INC.
020 B000006 13-3082694
020 C000006 58
020 A000007 NATWEST SECURITIES CORP.
020 C000007 53
020 A000008 CJ LAWRENCE
020 C000008 53
020 A000009 ALEX BROWN & SONS, INC.
020 B000009 52-1319768
020 C000009 49
020 A000010 MORGAN (J.P.) & CO.
020 B000010 13-3224016
020 C000010 39
021 000000 950
022 A000001 GENERAL ELECTRIC CREDIT CORP.
022 B000001 13-5409205
022 C000001 1283816
022 D000001 0
022 A000002 PRUDENTIAL SECURITIES INC.
022 B000002 22-2347336
022 C000002 1155179
022 D000002 0
022 A000003 FORD MOTOR CREDIT CORP.
022 B000003 38-1012444
022 C000003 399396
022 D000003 0
022 A000004 AMERICAN EXPRESS CREDIT CORP.
022 B000004 11-1988350
022 C000004 44944
022 D000004 0
022 A000005 MORGAN STANLEY & CO., INC.
022 B000005 13-2655998
022 C000005 17640
022 D000005 12212
022 A000006 MERRILL LYNCH PIERCE FENNER & SMITH
022 B000006 13-5674085
022 C000006 5764
022 D000006 17792
022 A000007 GOLDMAN SACHS & CO.
022 B000007 13-5108880
022 C000007 17762
022 D000007 5774
022 A000008 CS FIRST BOSTON CORP.
022 B000008 13-5659485
022 C000008 6996
022 D000008 12592
022 A000009 LEHMAN BROTHERS
022 B000009 13-2518466
022 C000009 13258
<PAGE> PAGE 4
022 D000009 1996
022 A000010 SALOMON BROTHERS INC.
022 B000010 13-3082694
022 C000010 9183
022 D000010 4033
023 C000000 2977064
023 D000000 80234
024 000000 Y
025 A000001 MERRILL LYNCH PIERCE FENNER & SMITH
025 B000001 13-564085
025 C000001 E
025 D000001 31469
025 A000002 MORGAN STANLEY & CO., INC.
025 B000002 13-2655998
025 C000002 E
025 D000002 10786
025 A000003 DELETE
025 D000003 0
025 A000004 DELETE
025 D000004 0
025 A000005 DELETE
025 D000005 0
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
070 N020000 N
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<PAGE> PAGE 9
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<PAGE> PAGE 10
078 000000 N
080 A000000 ICI MUTUAL INSURNACE CO
080 B000000 GULF INSURANCE CO
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SIGNATURE CATHY WHITE
TITLE ASST. VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000019614
<NAME> THE ALLIANCE FUND
<SERIES>
<NUMBER> 001
<NAME> THE ALLIANCE FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1996
<PERIOD-START> DEC-01-1995
<PERIOD-END> MAY-31-1996
<INVESTMENTS-AT-COST> 805,494,614
<INVESTMENTS-AT-VALUE> 997,894,573
<RECEIVABLES> 14,086,321
<ASSETS-OTHER> 64,405
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,012,045,299
<PAYABLE-FOR-SECURITIES> 4,428,480
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,102,511
<TOTAL-LIABILITIES> 6,530,991
<SENIOR-EQUITY> 1,416,250
<PAID-IN-CAPITAL-COMMON> 712,524,290
<SHARES-COMMON-STOCK> 133,940,210
<SHARES-COMMON-PRIOR> 122,400,986
<ACCUMULATED-NII-CURRENT> 879,139
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 98,295,582
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 192,399,047
<NET-ASSETS> 1,005,514,308
<DIVIDEND-INCOME> 5,545,634
<INTEREST-INCOME> 636,897
<OTHER-INCOME> 0
<EXPENSES-NET> (5,249,030)
<NET-INVESTMENT-INCOME> 933,501
<REALIZED-GAINS-CURRENT> 99,655,845
<APPREC-INCREASE-CURRENT> (31,058,784)
<NET-CHANGE-FROM-OPS> 69,530,562
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,437,233)
<DISTRIBUTIONS-OF-GAINS> (129,782,675)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,783,132
<NUMBER-OF-SHARES-REDEEMED> (6,738,223)
<SHARES-REINVESTED> 15,446,742
<NET-CHANGE-IN-ASSETS> 18,388,538
<ACCUMULATED-NII-PRIOR> 2,382,871
<ACCUMULATED-GAINS-PRIOR> 134,745,473
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3,400,128
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5,249,030
<AVERAGE-NET-ASSETS> 922,573,571
<PER-SHARE-NAV-BEGIN> 7.72
<PER-SHARE-NII> 0.01
<PER-SHARE-GAIN-APPREC> 0.47
<PER-SHARE-DIVIDEND> (0.02)
<PER-SHARE-DISTRIBUTIONS> (1.07)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 7.11
<EXPENSE-RATIO> 1.04
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000019614
<NAME> THE ALLIANCE FUND
<SERIES>
<NUMBER> 002
<NAME> THE ALLIANCE FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1996
<PERIOD-START> DEC-01-1995
<PERIOD-END> MAY-31-1996
<INVESTMENTS-AT-COST> 805,494,614
<INVESTMENTS-AT-VALUE> 997,894,573
<RECEIVABLES> 14,086,321
<ASSETS-OTHER> 64,405
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,012,045,299
<PAYABLE-FOR-SECURITIES> 4,428,480
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,102,511
<TOTAL-LIABILITIES> 6,530,991
<SENIOR-EQUITY> 1,416,250
<PAID-IN-CAPITAL-COMMON> 712,524,290
<SHARES-COMMON-STOCK> 5,742,417
<SHARES-COMMON-PRIOR> 4,235,149
<ACCUMULATED-NII-CURRENT> 879,139
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 98,295,582
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 192,399,047
<NET-ASSETS> 1,005,514,308
<DIVIDEND-INCOME> 5,545,634
<INTEREST-INCOME> 636,897
<OTHER-INCOME> 0
<EXPENSES-NET> (5,249,030)
<NET-INVESTMENT-INCOME> 933,501
<REALIZED-GAINS-CURRENT> 99,655,845
<APPREC-INCREASE-CURRENT> (31,058,784)
<NET-CHANGE-FROM-OPS> 69,530,562
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (4,556,157)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,684,541
<NUMBER-OF-SHARES-REDEEMED> (717,583)
<SHARES-REINVESTED> 586,032
<NET-CHANGE-IN-ASSETS> 18,388,538
<ACCUMULATED-NII-PRIOR> 2,382,871
<ACCUMULATED-GAINS-PRIOR> 134,745,473
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3,400,128
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5,249,030
<AVERAGE-NET-ASSETS> 35,167,175
<PER-SHARE-NAV-BEGIN> 7.49
<PER-SHARE-NII> (0.02)
<PER-SHARE-GAIN-APPREC> 0.46
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (1.07)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 6.86
<EXPENSE-RATIO> 1.87
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000019614
<NAME> THE ALLIANCE FUND
<SERIES>
<NUMBER> 003
<NAME> THE ALLIANCE FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1996
<PERIOD-START> DEC-01-1995
<PERIOD-END> MAY-31-1996
<INVESTMENTS-AT-COST> 805,494,614
<INVESTMENTS-AT-VALUE> 997,894,573
<RECEIVABLES> 14,086,321
<ASSETS-OTHER> 64,405
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,012,045,299
<PAYABLE-FOR-SECURITIES> 4,428,480
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,102,511
<TOTAL-LIABILITIES> 6,530,991
<SENIOR-EQUITY> 1,416,250
<PAID-IN-CAPITAL-COMMON> 712,524,290
<SHARES-COMMON-STOCK> 1,942,344
<SHARES-COMMON-PRIOR> 1,344,394
<ACCUMULATED-NII-CURRENT> 879,139
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 98,295,582
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 192,399,047
<NET-ASSETS> 1,005,514,308
<DIVIDEND-INCOME> 5,545,634
<INTEREST-INCOME> 636,897
<OTHER-INCOME> 0
<EXPENSES-NET> (5,249,030)
<NET-INVESTMENT-INCOME> 933,501
<REALIZED-GAINS-CURRENT> 99,655,845
<APPREC-INCREASE-CURRENT> (31,058,784)
<NET-CHANGE-FROM-OPS> 69,530,562
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (1,766,904)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 946,107
<NUMBER-OF-SHARES-REDEEMED> (523,380)
<SHARES-REINVESTED> 175,223
<NET-CHANGE-IN-ASSETS> 18,388,538
<ACCUMULATED-NII-PRIOR> 2,382,871
<ACCUMULATED-GAINS-PRIOR> 134,745,473
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3,400,128
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5,249,030
<AVERAGE-NET-ASSETS> 11,621,688
<PER-SHARE-NAV-BEGIN> 7.50
<PER-SHARE-NII> (0.02)
<PER-SHARE-GAIN-APPREC> 0.45
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (1.07)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 6.86
<EXPENSE-RATIO> 1.86
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
[DESCRIPTION]Report of 10f-3 Transactions
Securities Purchases in Underwritings Involving
Transactions with Donaldson, Lufkin, & Jenrette Securities Co
Subject to Rule 10f-3 Under the Investment Company Act of 1940
THE ALLIANCE FUND
<TABLE>
10f-3 TRANSACTIONS FOR THE PERIOD DEC 1, 1995 THROUGH FEB 28, 1996
<CAPTION>
Total
Shares Shares % of Issue Shares
Date Shares % of Fund Price per Purchased by Issued Purchased Held
Security Purchased Purchased Assets Share Fund Group (000) By Group Broker(s) 02/29/95
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
United Dominion Inds. LT 02/09/95 60,000 0.13% $22.63 60,000 4,500 1.33%Goldman Sachs 60,000
</TABLE>
<TABLE>
10f-3 TRANSACTIONS FOR THE PERIOD MAR 1, 1996 THROUGH MAY 31, 1996
<CAPTION>
Total
Date Shares % of Fund Price per Purchased by Issued Purchased Held
Security Purchased Purchased Assets Share Fund Group (000) By Group Broker(s) 05/31/96
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Lucent Technologies 04/03/96 176,800 0.48% $27.00 272,300 111,000 0.25%Goldman Sachs 0
Associates First Capital 05/07/96 15,900 0.05% $29.00 81,100 67,000 0.12%Goldman Sachs 0
Western Wireless 05/22/96 113,200 0.26% $23.50 113,200 11,000 1.03%Goldman Sachs 113,200
</TABLE>
1-Purchase may not exceed 3% of Fund's Total Assets.
2-Purchases by all Alliance Funds may not exceed the greater of (i) 4% of
the principal amount of the offering or (ii) $500,000 in principal amount,
but in no event may exeed 10% of the principal amount of the offering.
