<PAGE> PAGE 1
000 A000000 06/30/97
000 C000000 799029
000 D000000 N
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002 A000000 TWO WORLD TRADE CENTER
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<PAGE> PAGE 2
011 C040001 0203
012 A000001 OPPENHEIMERFUNDS SERVICES
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012 C010001 DENVER
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020 A000003 FIRST BOSTON CORP. (THE)
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020 A000004 MORGAN (J.P.) SECURITIES, INC.
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<PAGE> PAGE 3
020 B000010 93-0987232
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022 C000008 5891
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<PAGE> PAGE 4
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<PAGE> PAGE 6
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<PAGE> PAGE 9
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SIGNATURE GEORGE C. BOWEN
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 799029
<NAME> Oppenheimer Quest Capital Value Fund, Inc. - A Shares
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 290,479,322
<INVESTMENTS-AT-VALUE> 337,997,170
<RECEIVABLES> 14,148,069
<ASSETS-OTHER> 431,204
<OTHER-ITEMS-ASSETS> 1,007,084
<TOTAL-ASSETS> 353,583,527
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,465,442
<TOTAL-LIABILITIES> 2,465,442
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 197,659,111
<SHARES-COMMON-STOCK> 9,049,314
<SHARES-COMMON-PRIOR> 18,004,302
<ACCUMULATED-NII-CURRENT> 2,941,538
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 102,999,588
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 47,517,848
<NET-ASSETS> 350,281,352
<DIVIDEND-INCOME> 2,435,305
<INTEREST-INCOME> 4,101,282
<OTHER-INCOME> 0
<EXPENSES-NET> 2,609,282
<NET-INVESTMENT-INCOME> 3,927,305
<REALIZED-GAINS-CURRENT> 102,999,588
<APPREC-INCREASE-CURRENT> (97,368,121)
<NET-CHANGE-FROM-OPS> 9,558,772
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,463,750
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 323,121
<NUMBER-OF-SHARES-REDEEMED> 9,278,109
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (582,816,066)
<ACCUMULATED-NII-PRIOR> 469,962
<ACCUMULATED-GAINS-PRIOR> 316,862,372
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,110,542
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,126,843
<AVERAGE-NET-ASSETS> 489,195,000
<PER-SHARE-NAV-BEGIN> 37.25
<PER-SHARE-NII> 0.14
<PER-SHARE-GAIN-APPREC> 1.32
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 38.71
<EXPENSE-RATIO> 1.07
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 799029
<NAME> Oppenheimer Quest Capital Value Fund, Inc. - B Shares
<S> <C>
<PERIOD-TYPE> 4-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> MAR-03-1997
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 290,479,322
<INVESTMENTS-AT-VALUE> 337,997,170
<RECEIVABLES> 14,148,069
<ASSETS-OTHER> 431,204
<OTHER-ITEMS-ASSETS> 1,007,084
<TOTAL-ASSETS> 353,583,527
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,465,442
<TOTAL-LIABILITIES> 2,465,442
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 197,659,111
<SHARES-COMMON-STOCK> 13,199
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 2,941,538
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 102,999,588
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 47,517,848
<NET-ASSETS> 509,122
<DIVIDEND-INCOME> 2,435,305
<INTEREST-INCOME> 4,101,282
<OTHER-INCOME> 0
<EXPENSES-NET> 2,609,282
<NET-INVESTMENT-INCOME> 3,927,305
<REALIZED-GAINS-CURRENT> 102,999,588
<APPREC-INCREASE-CURRENT> (97,368,121)
<NET-CHANGE-FROM-OPS> 9,558,772
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 13,419
<NUMBER-OF-SHARES-REDEEMED> 220
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (582,816,066)
<ACCUMULATED-NII-PRIOR> 469,962
<ACCUMULATED-GAINS-PRIOR> 316,862,372
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,110,542
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,126,843
<AVERAGE-NET-ASSETS> 275,000
<PER-SHARE-NAV-BEGIN> 37.04
<PER-SHARE-NII> 0.05
<PER-SHARE-GAIN-APPREC> 1.48
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 38.57
<EXPENSE-RATIO> 1.93
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 799029
<NAME> Oppenheimer Quest Capital Value Fund, Inc. - C Shares
<S> <C>
<PERIOD-TYPE> 4-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> Mar-03-1997
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 290,479,322
<INVESTMENTS-AT-VALUE> 337,997,170
<RECEIVABLES> 14,148,069
<ASSETS-OTHER> 431,204
<OTHER-ITEMS-ASSETS> 1,007,084
<TOTAL-ASSETS> 353,583,527
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,465,442
<TOTAL-LIABILITIES> 2,465,442
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 197,659,111
<SHARES-COMMON-STOCK> 8,491
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 2,941,538
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 102,999,588
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 47,517,848
<NET-ASSETS> 327,611
<DIVIDEND-INCOME> 2,435,305
<INTEREST-INCOME> 4,101,282
<OTHER-INCOME> 0
<EXPENSES-NET> 2,609,282
<NET-INVESTMENT-INCOME> 3,927,305
<REALIZED-GAINS-CURRENT> 102,999,588
<APPREC-INCREASE-CURRENT> (97,368,121)
<NET-CHANGE-FROM-OPS> 9,558,772
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8,547
<NUMBER-OF-SHARES-REDEEMED> 56
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (582,816,066)
<ACCUMULATED-NII-PRIOR> 469,962
<ACCUMULATED-GAINS-PRIOR> 316,862,372
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,110,542
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,126,843
<AVERAGE-NET-ASSETS> 204,000
<PER-SHARE-NAV-BEGIN> 37.04
<PER-SHARE-NII> 0.06
<PER-SHARE-GAIN-APPREC> 1.48
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 38.58
<EXPENSE-RATIO> 1.89
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<PAGE>
SHAREHOLDER MEETING
On May 19, 1997, a special shareholder meeting was held at which the proposed
changes to certain of the Fund's fundamental investment policies, including
changes to the investment objective were approved (Proposal No. 1) and the
Subadvisory Agreement between OppenheimerFunds, Inc. and OpCap Advisors was
approved (Proposal No. 2) as described in the Fund's proxy statement for that
meeting. The following is a report of the votes cast:
<TABLE>
<CAPTION>
Withheld/ Broker
Proposal For Against Abstain Non-Votes Total
<S> <C> <C> <C> <C> <C>
Proposal No. 1 5,333,081.606 387,728.558 492,181.397 4,689,389 6,212,991.561
Proposal No. 2 5,193,678.421 344,416.743 674,896.397 4,689,389 6,212,991.561
</TABLE>
<PAGE>
The Fund changed the classification of distributions to shareholders to reflect
the differences between financial statement amounts and distributions determined
in accordance with income tax regulations. Amounts have been reclassified to
reflect an increase in paid-in capital of $316,862,372. Accumulated net
realized gaon on investments was decreased by the same amount.
