<PAGE> PAGE 1
000 A000000 03/31/98
000 C000000 0000081443
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 2.2
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
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008 B000001 A
008 C000001 801-32361
008 D010001 NEW YORK
008 D020001 NY
008 D030001 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
012 C020001 NJ
012 C030001 07096
013 A000001 ERNST & YOUNG, LLP
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013 B020001 NY
013 B030001 10019
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014 B000001 8-00017574
015 A000001 STATE STREET BANK AND TRUST AND CO.
015 B000001 C
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015 C020001 MA
015 C030001 02110
015 E010001 X
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<PAGE> PAGE 2
019 A000000 Y
019 B000000 55
019 C000000 ALLIANCECA
020 A000001 MERRILL LYNCH PIERCE FENNER & SMITH
020 B000001 13-5674085
020 C000001 306
020 A000002 SMITH BARNEY INC.
020 B000002 13-1912900
020 C000002 264
020 A000003 MORGAN, J.P., SECURITIES INC.
020 B000003 13-3224016
020 C000003 254
020 A000004 ALEX BROWN & SONS, INC.
020 B000004 52-1319768
020 C000004 172
020 A000005 EDWARDS (A.G.) & SONS, INC.
020 B000005 43-0895447
020 C000005 147
020 A000006 MORGAN STANLEY AND CO., INC.
020 B000006 13-2655998
020 C000006 142
020 A000007 CS FIRST BOSTON CORP.
020 B000007 13-5659485
020 C000007 133
020 A000008 PRUDENTIAL SECURITIES INC.
020 B000008 22-2347336
020 C000008 124
020 A000009 GOLDMAN SACHS & CO.
020 B000009 13-5108880
020 C000009 112
020 A000010 PAINE WEBBER INC.
020 B000010 13-2638166
020 C000010 98
021 000000 2571
022 A000001 AUBREY LANSTON & CO. INC.
022 B000001 13-5552129
022 C000001 3225553
022 D000001 131834
022 A000002 LEHMAN BROTHERS INC.
022 B000002 13-2518466
022 C000002 152017
022 D000002 52238
022 A000003 GOLDMAN SACHS & CO.
022 B000003 13-5108880
022 C000003 150034
022 D000003 38975
022 A000004 MORGAN STANLEY AND CO., INC.
022 B000004 13-2655998
022 C000004 135759
022 D000004 14285
022 A000005 MERRILL LYNCH PIERCE FENNER & SMITH
<PAGE> PAGE 3
022 B000005 13-5674085
022 C000005 95613
022 D000005 13405
022 A000006 CS FIRST BOSTON CORP.
022 B000006 13-5659485
022 C000006 76743
022 D000006 24122
022 A000007 MORGAN, J.P., SECURITIES INC.
022 B000007 13-3224016
022 C000007 80672
022 D000007 15030
022 A000008 MONTGOMERY SECURITIES
022 B000008 94-1701676
022 C000008 48841
022 D000008 37363
022 A000009 PRUDENTIAL SECURITIES INC.
022 B000009 22-2347336
022 C000009 55172
022 D000009 9097
022 A000010 SMITH BARNEY INC.
022 B000010 13-1912900
022 C000010 34188
022 D000010 14271
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
070 J010000 Y
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072CC020000 0
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<PAGE> PAGE 9
077 K000000 N
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080 A000000 ICI MUTUAL INSURANCE COMPANY
080 B000000 GULF INSURANCE COMPANY
080 C000000 89000
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SIGNATURE CATHY WHITE
TITLE VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000081443
<NAME> ALLIANCE QUASAR FUND, INC.
<SERIES>
<NUMBER> 001
<NAME> ALLIANCE QUASAR FUND, INC.
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-START> OCT-01-1997
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 1,437,419,024
<INVESTMENTS-AT-VALUE> 1,668,176,269
<RECEIVABLES> 46,115,262
<ASSETS-OTHER> 67,876
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,714,359,407
<PAYABLE-FOR-SECURITIES> 30,243,377
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6,495,418
<TOTAL-LIABILITIES> 36,738,795
<SENIOR-EQUITY> 112,650
<PAID-IN-CAPITAL-COMMON> 1,381,179,895
<SHARES-COMMON-STOCK> 17,909,350
<SHARES-COMMON-PRIOR> 13,239,982
<ACCUMULATED-NII-CURRENT> (6,961,641)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 72,533,877
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 230,755,831
<NET-ASSETS> 1,677,620,612
<DIVIDEND-INCOME> 2,845,201
<INTEREST-INCOME> 2,925,300
<OTHER-INCOME> 0
<EXPENSES-NET> (12,731,812)
<NET-INVESTMENT-INCOME> (6,961,311)
<REALIZED-GAINS-CURRENT> 74,522,131
<APPREC-INCREASE-CURRENT> 59,719,107
<NET-CHANGE-FROM-OPS> 127,279,927
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (17,163,903)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 13,576,405
<NUMBER-OF-SHARES-REDEEMED> (9,478,334)
<SHARES-REINVESTED> 571,297
<NET-CHANGE-IN-ASSETS> 564,553,482
<ACCUMULATED-NII-PRIOR> (330)
<ACCUMULATED-GAINS-PRIOR> 50,131,067
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 7,169,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 12,732,000
<AVERAGE-NET-ASSETS> 445,165,439
<PER-SHARE-NAV-BEGIN> 30.37
<PER-SHARE-NII> (0.09)
<PER-SHARE-GAIN-APPREC> 2.36
<PER-SHARE-DIVIDEND> 0
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<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000081443
<NAME> ALLIANCE QUASAR FUND, INC.
<SERIES>
<NUMBER> 002
<NAME> ALLIANCE QUASAR FUND, INC.
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-START> OCT-01-1997
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 1,437,419,024
<INVESTMENTS-AT-VALUE> 1,668,176,269
<RECEIVABLES> 46,115,262
<ASSETS-OTHER> 67,876
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,714,359,407
<PAYABLE-FOR-SECURITIES> 30,243,377
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6,495,418
<TOTAL-LIABILITIES> 36,738,795
<SENIOR-EQUITY> 112,650
<PAID-IN-CAPITAL-COMMON> 1,381,179,895
<SHARES-COMMON-STOCK> 25,100,981
<SHARES-COMMON-PRIOR> 18,074,865
<ACCUMULATED-NII-CURRENT> (6,961,641)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 72,533,877
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 230,755,831
<NET-ASSETS> 1,677,620,612
<DIVIDEND-INCOME> 2,845,201
<INTEREST-INCOME> 2,925,300
<OTHER-INCOME> 0
<EXPENSES-NET> (12,731,812)
<NET-INVESTMENT-INCOME> (6,961,311)
<REALIZED-GAINS-CURRENT> 74,522,131
<APPREC-INCREASE-CURRENT> 59,719,107
<NET-CHANGE-FROM-OPS> 127,279,927
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (24,996,773)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8,533,630
<NUMBER-OF-SHARES-REDEEMED> (2,430,276)
<SHARES-REINVESTED> 922,762
<NET-CHANGE-IN-ASSETS> 564,553,482
<ACCUMULATED-NII-PRIOR> (330)
<ACCUMULATED-GAINS-PRIOR> 50,131,067
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 7,169,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 12,732,000
<AVERAGE-NET-ASSETS> 571,407,954
<PER-SHARE-NAV-BEGIN> 27.83
<PER-SHARE-NII> (0.19)
<PER-SHARE-GAIN-APPREC> 2.15
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (1.23)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 28.56
<EXPENSE-RATIO> 2.34
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000081443
<NAME> ALLIANCE QUASAR FUND, INC.
<SERIES>
<NUMBER> 003
<NAME> ALLIANCE QUASAR FUND, INC.
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-START> OCT-01-1997
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 1,437,419,024
<INVESTMENTS-AT-VALUE> 1,668,176,269
<RECEIVABLES> 46,115,262
<ASSETS-OTHER> 67,876
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,714,359,407
<PAYABLE-FOR-SECURITIES> 30,243,377
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6,495,418
<TOTAL-LIABILITIES> 36,738,795
<SENIOR-EQUITY> 112,650
<PAID-IN-CAPITAL-COMMON> 1,381,179,895
<SHARES-COMMON-STOCK> 7,213,575
<SHARES-COMMON-PRIOR> 5,224,929
<ACCUMULATED-NII-CURRENT> (6,961,641)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 72,533,877
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 230,755,831
<NET-ASSETS> 1,677,620,612
<DIVIDEND-INCOME> 2,845,201
<INTEREST-INCOME> 2,925,300
<OTHER-INCOME> 0
<EXPENSES-NET> (12,731,812)
<NET-INVESTMENT-INCOME> (6,961,311)
<REALIZED-GAINS-CURRENT> 74,522,131
<APPREC-INCREASE-CURRENT> 59,719,107
<NET-CHANGE-FROM-OPS> 127,279,927
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (7,133,144)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,100,499
<NUMBER-OF-SHARES-REDEEMED> (2,372,062)
<SHARES-REINVESTED> 260,209
<NET-CHANGE-IN-ASSETS> 564,553,482
<ACCUMULATED-NII-PRIOR> (330)
<ACCUMULATED-GAINS-PRIOR> 50,131,067
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 7,169,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 12,732,000
<AVERAGE-NET-ASSETS> 163,369,514
<PER-SHARE-NAV-BEGIN> 27.85
<PER-SHARE-NII> (0.19)
<PER-SHARE-GAIN-APPREC> 2.14
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (1.23)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 28.57
<EXPENSE-RATIO> 2.33
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000081443
<NAME> ALLIANCE QUASAR FUND, INC.
<SERIES>
<NUMBER> 004
<NAME> ALLIANCE QUASAR FUND, INC.
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-START> OCT-01-1997
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 1,437,419,024
<INVESTMENTS-AT-VALUE> 1,668,176,269
<RECEIVABLES> 46,115,262
<ASSETS-OTHER> 67,876
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,714,359,407
<PAYABLE-FOR-SECURITIES> 30,243,377
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6,495,418
<TOTAL-LIABILITIES> 36,738,795
<SENIOR-EQUITY> 112,650
<PAID-IN-CAPITAL-COMMON> 1,381,179,895
<SHARES-COMMON-STOCK> 6,101,023
<SHARES-COMMON-PRIOR> 2,053,027
<ACCUMULATED-NII-CURRENT> (6,961,641)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 72,533,877
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 230,755,831
<NET-ASSETS> 1,677,620,612
<DIVIDEND-INCOME> 2,845,201
<INTEREST-INCOME> 2,925,300
<OTHER-INCOME> 0
<EXPENSES-NET> (12,731,812)
<NET-INVESTMENT-INCOME> (6,961,311)
<REALIZED-GAINS-CURRENT> 74,522,131
<APPREC-INCREASE-CURRENT> 59,719,107
<NET-CHANGE-FROM-OPS> 127,279,927
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (2,825,501)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,175,112
<NUMBER-OF-SHARES-REDEEMED> (1,222,578)
<SHARES-REINVESTED> 95,462
<NET-CHANGE-IN-ASSETS> 564,553,482
<ACCUMULATED-NII-PRIOR> (330)
<ACCUMULATED-GAINS-PRIOR> 50,131,067
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 7,169,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 12,732,000
<AVERAGE-NET-ASSETS> 103,840,571
<PER-SHARE-NAV-BEGIN> 30.42
<PER-SHARE-NII> (0.06)
<PER-SHARE-GAIN-APPREC> 2.37
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (1.23)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 31.50
<EXPENSE-RATIO> 1.35
<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
ALLIANCE QUASAR FUND
<TABLE>
10f-3 TRANSACTIONS FOR THE PERIOD OCTOBER 6, 1997 THROUGH NOVEMBER 30, 1997
<CAPTION>
Total
Shares Shares % of Issue Shares
Date Shares Price perPurchased bIssued Purchased Held
Security PurchasedPurchasedShare Fund Group (000) By Group Broker(s) 11/30/97
<C> <C> <C> <C> <C> <C> <C> <C> <C>
American Disposal Services10/22/97 62,500 $30.50 75,000 6,000 1.25% Oppenheimer + Co. Inc. 403,900
Drill Quip Inc 10/22/97 48,300 $24.00 3,600 5,000 0.07% Morgan Stanley & Co. 0
Metromedia Fiber Network I10/28/97 54,300 $16.00 101,700 7,092 1.43% Salomon Brothers Inc. 0
Trimeris Inc 10/07/97 126,000 $12.00 150,000 2,075 7.23% UBS Securities 0
IRI Intl Corp 11/13/97 108,100 $18.00 131,300 12,000 1.09% Lehman Brothers Inc. 108,100
Meadowcraft Inc 11/25/97 140,900 $13.00 168,000 3,125 5.38% Edwards AG & Sons 140,900
Rayovac Corp 11/20/97 293,400 $14.00 350,000 6,700 5.22% Merrill Lynch Pierce 167,400
</TABLE>
<TABLE>
10f-3 TRANSACTIONS FOR THE PERIOD DECEMBER 1, 1997 THROUGH FEBRUARY 28, 1998
<CAPTION>
Total
Date Shares Price perPurchased bIssued Purchased Held
Security PurchasedPurchasedShare Fund Group (000) By Group Broker(s) 02/28/97
<C> <C> <C> <C> <C> <C> <C> <C> <C>
Princeton Video Image, Inc12/16/97 253,200 $7.00 299,400 4,000 7.49% Allen & Co. 253,200
United Rental Inc. 12/18/97 211,000 $13.50 249,500 7,000 3.56% Merrill Lynch Pierce 348,100
Royal Olympic Cruise Lines02/04/98 132,000 $15.00 154,400 6,100 2.53% Lazard Freres 0
Associate Materials Inc 02/26/98 458,500 $16.00 527,700 2,129 24.79% Smith Barney 458,500
</TABLE>
<TABLE>
10f-3 TRANSACTIONS FOR THE PERIOD MARCH 1, 1998 THROUGH MARCH 31, 1998
<CAPTION>
Total
Date Shares Price perPurchased bIssued Purchased Held
Security PurchasedPurchasedShare Fund Group (000) By Group Broker(s) 03/31/98
<C> <C> <C> <C> <C> <C> <C> <C> <C>
PC Connection Inc 03/03/98 1,700 $17.50 4,800 3,125 0.15% Blair William & Co. 0
Waddell & Reed Financial 03/04/98 102,200 $23.00 117,400 21,700 0.54% Morgan Stanley & Co. 279,200
Exodus Communications Inc 03/18/98 23,100 $15.00 60,600 4,500 1.35% Goldman Sachs 0
ISS Group Inc 03/23/98 15,600 $22.00 41,700 3,000 1.39% Goldman Sachs 164,800
</TABLE>
* Unless otherwise indicated, the securities were part of an issue registered
under the Securities Act of 1933 and offered to the public.
**Indicates the puchase of an Eligible Rule 144A Security.
1) Purchases by all Alliance Funds, including the Fund, may not exceed: (a) if
purchased in an offering than an Eligible Rule 144A Offering, 25% of the
principal amount of the offering of such class; or (b) if purchased in an
Eligible Rule 144A Offering, 25% of the total of (i) the principal amount
of the offering of such class sold by the underwriters or members of the
selling syndicate to qualified institutional buyers, plus (ii) the principal
amount of the offering of such class in any concurrent public offering.
Item 77I Terms of new or amended securities
In 1996, the Fund issued a new class of shares, Adviser
Class shares. Adviser Class shares, along with Class A, Class B,
Class C shares each represent an interest in the same portfolio of
investments of the Fund, have the same rights and are identical in
all respects, except that (i) Class A shares bear the expense of
the initial sales charge (or contingent deferred sales charge,
when applicable) and Class B and Class C shares bear the expense
of the deferred sales charge, (ii) Class B shares and Class C
shares each bear the expense of a higher distribution services fee
than that borne by Class A shares, and Advisor Class shares do not
bear such a fee, (iii) Class B and Class C shares bear higher
transfer agency costs than that borne by Class A and Advisor Class
shares; (iv) each of Class A, Class B and Class C has exclusive
voting rights with respect to provisions of the Rule 12b-1 Plan
pursuant to which its distribution services fee is paid and other
matters for which separate class voting is appropriate under
applicable law, provided that, if the Fund submits to a vote of
the Class A shareholders, an amendment to the Rule 12b-1 Plan that
would materially increase the amount to be paid thereunder with
respect to the Class A shares, then such amendment will also be
submitted to the Class B and Advisor Class shareholders and the
Class A, the Class B and the Advisor Class shareholders will vote
separately by class; and (v) Class B and Advisor Class shares are
subject to a conversion feature. Each class has different
exchange privileges and certain different shareholder service
options available.
ALLIANCE QUASAR FUND, INC Exhibit 77Q1(a)
811-1716
Articles of Restatement of Articles of Incorporation: Incorporated
by reference to Exhibit 1 to Post-Effective Amendment No. 44 to
Registrant's Registration Statement on Form N-1A, filed with the
Securities and Exchange Commission on January 31, 1991.
By-Laws: Incorporated by reference to Exhibit 2 to Post-Effective
Amendment No. 41 to Registrant's Registration Statement on Form N-
1A, filed with the Securities and Exchange Commission on January
31, 1990
