<PAGE> PAGE 1
000 B000000 09/30/96
000 C000000 0000081443
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 ALLIANCE QUASAR FUND, INC.
001 B000000 811-01716
001 C000000 2013194120
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 NEW YORK
011 C020001 NY
011 C030001 10105
012 A000001 ALLIANCE FUND SERVICES, INC.
012 B000001 84-0001187
012 C010001 SECAUCUS
<PAGE> PAGE 2
012 C020001 NJ
012 C030001 07094
013 A000001 ERNST & YOUNG, LLP
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10172
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 AND CO.
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02110
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 49
019 C000000 ALLIANCECA
020 A000001 SALOMON BROTHERS INC.
020 B000001 13-3082694
020 C000001 118
020 A000002 MERRILL LYNCH PIERCE FENNER & SMITH
020 B000002 13-5674085
020 C000002 117
020 A000003 ALEX, BROWN & SONS, INC.
020 B000003 52-1319768
020 C000003 73
020 A000004 LEHMAN BROTHERS INC.
020 B000004 13-2518466
020 C000004 70
020 A000005 MORGAN STANLEY AND CO., INC.
020 B000005 13-2655998
020 C000005 63
020 A000006 GOLDMAN SACHS AND CO.
020 B000006 13-5108880
020 C000006 58
020 A000007 SMITH BARNEY, INC.
020 B000007 13-1912900
020 C000007 54
020 A000008 CS FIRST BOSTON CORP.
020 B000008 13-3147131
020 C000008 41
020 A000009 NATWEST SECURITIES CORP.
020 C000009 26
020 A000010 MONTGOMERY SECURITIES
020 B000010 13-2638166
020 C000010 23
<PAGE> PAGE 3
021 000000 979
022 A000001 CHEMICAL SECURITIES
022 B000001 13-3379014
022 C000001 3476603
022 D000001 2499
022 A000002 AUBREY LANSTON
022 B000002 13-5552129
022 C000002 731023
022 D000002 15792
022 A000003 PRUDENTIAL SECURITIES INC.
022 B000003 22-2347336
022 C000003 52585
022 D000003 2269
022 A000004 GOLDMAN SACHS AND CO.
022 B000004 13-5108880
022 C000004 29513
022 D000004 22759
022 A000005 SMITH BARNEY INC.
022 B000005 13-1912900
022 C000005 22913
022 D000005 21012
022 A000006 MORGAN STANLEY AND CO., INC.
022 B000006 13-2655998
022 C000006 21558
022 D000006 13986
022 A000007 MERRILL LYNCH PIERCE FENNER & SMITH
022 B000007 13-5674085
022 C000007 17532
022 D000007 16557
022 A000008 HERZOG HEINE GEDULD INC.
022 C000008 17627
022 D000008 7656
022 A000009 ALEX, BROWN & SONS, INC.
022 B000009 52-1319768
022 C000009 16207
022 D000009 6876
022 A000010 LEHMAN BROTHERS INC.
022 B000010 13-2518466
022 C000010 11977
022 D000010 8672
023 C000000 4523081
023 D000000 211033
024 000000 N
025 D000001 0
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
<PAGE> PAGE 4
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 N
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
028 A010000 31750
028 A020000 0
028 A030000 0
028 A040000 24856
028 B010000 45917
028 B020000 0
028 B030000 0
028 B040000 10570
028 C010000 34919
028 C020000 0
028 C030000 0
028 C040000 14064
028 D010000 25948
028 D020000 0
028 D030000 0
028 D040000 17501
028 E010000 25689
028 E020000 0
028 E030000 0
028 E040000 7752
028 F010000 28936
028 F020000 0
028 F030000 0
028 F040000 11653
028 G010000 193159
028 G020000 0
028 G030000 0
028 G040000 86396
028 H000000 67551
029 000000 Y
030 A000000 1860
030 B000000 4.25
030 C000000 4.25
031 A000000 86
031 B000000 0
032 000000 1774
033 000000 0
034 000000 Y
035 000000 488
036 A000000 Y
036 B000000 0
<PAGE> PAGE 5
037 000000 N
038 000000 0
039 000000 N
040 000000 Y
041 000000 Y
042 A000000 0
042 B000000 0
042 C000000 100
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 948
044 000000 319
045 000000 Y
046 000000 N
047 000000 Y
048 000000 1.000
048 A010000 0
048 A020000 0.000
048 B010000 0
048 B020000 0.000
048 C010000 0
048 C020000 0.000
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 0
048 K020000 0.000
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
054 A000000 Y
054 B000000 Y
054 C000000 N
054 D000000 N
054 E000000 N
<PAGE> PAGE 6
054 F000000 N
054 G000000 N
054 H000000 Y
054 I000000 N
054 J000000 N
054 K000000 N
054 L000000 N
054 M000000 Y
054 N000000 N
054 O000000 N
055 A000000 N
055 B000000 N
056 000000 Y
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 250
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 0
063 B000000 0.0
066 A000000 Y
066 B000000 N
066 C000000 Y
066 D000000 N
066 E000000 N
066 F000000 N
066 G000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
<PAGE> PAGE 7
070 A020000 N
070 B010000 Y
070 B020000 N
070 C010000 N
070 C020000 N
070 D010000 N
070 D020000 N
070 E010000 N
070 E020000 N
070 F010000 N
070 F020000 N
070 G010000 N
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 Y
070 K010000 N
070 K020000 N
070 L010000 Y
070 L020000 N
070 M010000 Y
070 M020000 N
070 N010000 N
070 N020000 N
070 O010000 N
070 O020000 N
070 P010000 Y
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 488232
071 B000000 377644
071 C000000 225168
071 D000000 168
072 A000000 12
072 B000000 1218
072 C000000 418
072 D000000 0
072 E000000 0
072 F000000 2780
072 G000000 139
072 H000000 0
072 I000000 422
072 J000000 144
072 K000000 0
072 L000000 62
<PAGE> PAGE 8
072 M000000 37
072 N000000 96
072 O000000 8
072 P000000 0
072 Q000000 0
072 R000000 62
072 S000000 71
072 T000000 948
072 U000000 0
072 V000000 0
072 W000000 28
072 X000000 4797
072 Y000000 0
072 Z000000 -3161
072AA000000 65888
072BB000000 0
072CC010000 13713
072CC020000 0
072DD010000 0
072DD020000 0
072EE000000 33668
073 A010000 0.0000
073 A020000 0.0000
073 B000000 14.4300
073 C000000 0.0000
074 A000000 1248
074 B000000 0
074 C000000 30942
074 D000000 0
074 E000000 0
074 F000000 343807
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 6849
074 K000000 0
074 L000000 3622
074 M000000 0
074 N000000 386468
074 O000000 12830
074 P000000 1095
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 1714
074 S000000 0
074 T000000 370829
074 U010000 8231
074 U020000 5397
074 V010000 27.92
<PAGE> PAGE 9
074 V020000 26.13
074 W000000 0.0000
074 X000000 25843
074 Y000000 0
075 A000000 0
075 B000000 246278
076 000000 0.00
077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 Y
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
080 A000000 ICI MUTUAL INSURANCE COMPANY
080 B000000 GULF INSURANCE COMPANY
080 C000000 74000
081 A000000 Y
081 B000000 94
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
<PAGE> PAGE 10
086 F020000 0
SIGNATURE CATHY WHITE
TITLE ASST VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000081443
<NAME> ALLIANCE QUASAR FUND
<SERIES>
<NUMBER> 001
<NAME> ALLIANCE QUASAR FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-START> OCT-01-1995
<PERIOD-END> SEP-30-1996
<INVESTMENTS-AT-COST> 334,286,936
<INVESTMENTS-AT-VALUE> 374,749,041
<RECEIVABLES> 10,470,768
<ASSETS-OTHER> 1,248,343
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 386,468,152
<PAYABLE-FOR-SECURITIES> 12,830,185
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,808,777
<TOTAL-LIABILITIES> 15,638,962
<SENIOR-EQUITY> 27,259
<PAID-IN-CAPITAL-COMMON> 256,204,580
<SHARES-COMMON-STOCK> 8,231,151
<SHARES-COMMON-PRIOR> 6,071,212
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 74,136,146
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 40,461,205
<NET-ASSETS> 370,829,190
<DIVIDEND-INCOME> 418,721
<INTEREST-INCOME> 1,217,757
<OTHER-INCOME> 0
<EXPENSES-NET> (4,797,339)
<NET-INVESTMENT-INCOME> (3,160,861)
<REALIZED-GAINS-CURRENT> 65,887,574
<APPREC-INCREASE-CURRENT> 13,713,401
<NET-CHANGE-FROM-OPS> 76,440,114
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (29,221,160)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,495,816
<NUMBER-OF-SHARES-REDEEMED> (4,589,604)
<SHARES-REINVESTED> 1,253,727
<NET-CHANGE-IN-ASSETS> 205,949,782
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 41,916,370
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,780,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,797,000
<AVERAGE-NET-ASSETS> 186,611,289
<PER-SHARE-NAV-BEGIN> 24.16
<PER-SHARE-NII> (0.25)
<PER-SHARE-GAIN-APPREC> 8.82
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (4.81)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 27.92
<EXPENSE-RATIO> 1.79
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000081443
<NAME> ALLIANCE QUASAR FUND
<SERIES>
<NUMBER> 002
<NAME> ALLIANCE QUASAR FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-START> OCT-01-1995
<PERIOD-END> SEP-30-1996
<INVESTMENTS-AT-COST> 334,286,936
<INVESTMENTS-AT-VALUE> 374,749,041
<RECEIVABLES> 10,470,768
<ASSETS-OTHER> 1,248,343
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 386,468,152
<PAYABLE-FOR-SECURITIES> 12,830,185
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,808,777
<TOTAL-LIABILITIES> 15,638,962
<SENIOR-EQUITY> 27,259
<PAID-IN-CAPITAL-COMMON> 256,204,580
<SHARES-COMMON-STOCK> 4,305,385
<SHARES-COMMON-PRIOR> 720,979
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 74,136,146
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 40,461,205
<NET-ASSETS> 370,829,190
<DIVIDEND-INCOME> 418,721
<INTEREST-INCOME> 1,217,757
<OTHER-INCOME> 0
<EXPENSES-NET> (4,797,339)
<NET-INVESTMENT-INCOME> (3,160,861)
<REALIZED-GAINS-CURRENT> 65,887,574
<APPREC-INCREASE-CURRENT> 13,713,401
<NET-CHANGE-FROM-OPS> 76,440,114
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (3,571,423)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,441,473
<NUMBER-OF-SHARES-REDEEMED> (1,028,999)
<SHARES-REINVESTED> 171,932
<NET-CHANGE-IN-ASSETS> 205,949,782
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 41,916,370
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,780,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,797,000
<AVERAGE-NET-ASSETS> 44,482,535
<PER-SHARE-NAV-BEGIN> 23.03
<PER-SHARE-NII> (0.20)
<PER-SHARE-GAIN-APPREC> 8.11
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (4.81)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 26.13
<EXPENSE-RATIO> 2.62
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000081443
<NAME> ALLIANCE QUASAR FUND
<SERIES>
<NUMBER> 003
<NAME> ALLIANCE QUASAR FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-START> OCT-01-1995
<PERIOD-END> SEP-30-1996
<INVESTMENTS-AT-COST> 334,286,936
<INVESTMENTS-AT-VALUE> 374,749,041
<RECEIVABLES> 10,470,768
<ASSETS-OTHER> 1,248,343
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 386,468,152
<PAYABLE-FOR-SECURITIES> 12,830,185
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,808,777
<TOTAL-LIABILITIES> 15,638,962
<SENIOR-EQUITY> 27,259
<PAID-IN-CAPITAL-COMMON> 256,204,580
<SHARES-COMMON-STOCK> 1,091,974
<SHARES-COMMON-PRIOR> 69,926
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 74,136,146
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 40,461,205
<NET-ASSETS> 370,829,190
<DIVIDEND-INCOME> 418,721
<INTEREST-INCOME> 1,217,757
<OTHER-INCOME> 0
<EXPENSES-NET> (4,797,339)
<NET-INVESTMENT-INCOME> (3,160,861)
<REALIZED-GAINS-CURRENT> 65,887,574
<APPREC-INCREASE-CURRENT> 13,713,401
<NET-CHANGE-FROM-OPS> 76,440,114
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (875,215)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,062,696
<NUMBER-OF-SHARES-REDEEMED> (1,057,147)
<SHARES-REINVESTED> 16,499
<NET-CHANGE-IN-ASSETS> 205,949,782
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 41,916,370
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,780,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,797,000
<AVERAGE-NET-ASSETS> 11,143,753
<PER-SHARE-NAV-BEGIN> 23.05
<PER-SHARE-NII> (0.20)
<PER-SHARE-GAIN-APPREC> 8.10
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (4.81)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 26.14
<EXPENSE-RATIO> 2.61
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
[DESCRIPTION]Auditors Report of Internal Control
November 1, 1996
Board of Directors
Alliance Quasar Fund, Inc.
In planning and performing our audit of the financial statements of
Alliance Quasar Fund, Inc. for the year ended September 30, 1996, we
considered its internal control structure, including procedures for
safeguarding securities, in order to determine our auditing procedures
for the purpose of expressing our opinion on the financial statements
and to comply with the requirements of Form N-SAR, not to provide
assurance on the internal control structure.
The management of Alliance Quasar Fund, Inc. is responsible for
establishing and maintaining an internal control structure. In
fulfilling this responsibility, estimates and judgments by management
are required to assess the expected benefits and related costs of
internal control structure policies and procedures. Two of the
objectives of an internal control structure are to provide management
with reasonable, but not absolute, assurance that assets are safeguarded
against loss from unauthorized use or disposition and that transactions
are executed in accordance with management's authorization and recorded
properly to permit preparation of financial statements in conformity
with generally accepted accounting principles.
Because of inherent limitations in any internal control structure,
errors or irregularities may occur and not be detected. Also,
projection of any evaluation of the structure to future periods is
subject to the risk that it may become inadequate because of changes in
conditions or that the effectiveness of the design and operation may
deteriorate.
Our consideration of the internal control structure would not
necessarily disclose all matters in the internal control structure that
might be material weaknesses under standards established by the American
Institute of Certified Public Accountants. A material weakness is a
condition in which the design or operation of the specific internal
control structure elements does not reduce to a relatively low level the
risk that errors or irregularities in amounts that would be material in
relation to the financial statements being audited may occur and not be
detected within a timely period by employees in the normal course of
performing their assigned functions. However, we noted no matters
involving the internal control structure, including procedures for
safeguarding securities, that we consider to be material weaknesses as
defined above as of September 30, 1996.
This report is intended solely for the information and use of management
and the Securities and Exchange Commission.
ERNST & YOUNG LLP
November 1, 1996
