REYNOLDS FUNDS INC
NSAR-B, 1998-11-30
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<PAGE>      PAGE  1
000 B000000 09/30/98
000 C000000 832574
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 REYNOLDS FUNDS, INC.
001 B000000 811-5549
001 C000000 4154617860
002 A000000 80 E. SIR FRANCIS DRAKE BLVD. WOOD ISLE
002 B000000 LARKSPUR
002 C000000 CA
002 D010000 94939
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  4
007 C010100  1
007 C020100 REYNOLDS BLUE CHIP GROWTH FUND
007 C030100 N
007 C010200  2
007 C020200 REYNOLDS MONEY MARKET FUND
007 C030200 N
007 C010300  3
007 C020300 REYNOLDS OPPORTUNITY FUND
007 C030300 N
007 C010400  4
007 C020400 REYNOLDS U. S. GOVERNMENT BOND FUND
007 C030400 N
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 REYNOLDS CAPITAL MANAGEMENT
008 B00AA01 A
008 C00AA01 801-23561
008 D01AA01 LARKSPUR
008 D02AA01 CA
008 D03AA01 94939
010 A00AA01 FIDUCIARY MANAGEMENT, INC.
010 B00AA01 801-15164
010 C01AA01 MILWAUKEE
010 C02AA01 WI
010 C03AA01 53202
<PAGE>      PAGE  2
012 A00AA01 FIRSTAR TRUST COMPANY
012 B00AA01 85-00410
012 C01AA01 MILWAUKEE
012 C02AA01 WI
012 C03AA01 53202
013 A00AA01 PRICEWATERHOUSECOOPERS LLP
013 B01AA01 MILWAUKEE
013 B02AA01 WI
013 B03AA01 53202
015 A00AA01 FIRSTAR TRUST COMPANY
015 B00AA01 C
015 C01AA01 MILWAUKEE
015 C02AA01 WI
015 C03AA01 53202
015 E01AA01 X
018  00AA00 Y
019 A00AA00 Y
019 B00AA00    4
019 C00AA00 REYNOLDSBC
020 A000001 INTERSTATE/JOHNSON LANE
020 B000001 56-0276690
020 C000001     32
020 A000002 SCHWAB, CHARLES
020 B000002 94-1737782
020 C000002      5
020 A000003 LYNCH, JONES & RYAN, INC.
020 B000003 13-3356934
020 C000003      4
020 A000004 US BANCORP PIPER JAFFRAY INC.
020 B000004 41-0953246
020 C000004      0
020 C000005      0
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022 A000001 FIRSTAR TRUST COMPANY
022 B000001 39-6039160
022 C000001     43212
022 D000001     41587
022 A000002 SHERWOOD SECURITIES CORP.
022 B000002 13-2616318
022 C000002      7830
022 D000002      3084
022 A000003 FIRSTAR NATIONAL BANK
022 B000003 39-0281260
022 C000003      4262
022 D000003         0
022 A000004 MERRIL LYNCH PIERCE FENNER & SMITH INC.
<PAGE>      PAGE  3
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022 A000005 IBM CREDIT CORP.
022 B000005 22-2351962
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022 A000006 NATIONSBANC MONTGOMERY SECURITIES
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022 A000008 GENERAL MOTORS ACCEPTANCE CORP.
022 B000008 38-0572512
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022 A000009 AMERICAN GENERAL FINANCE CORP.
022 B000009 35-0416090
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022 A000010 TEXACO INC.
022 B000010 74-1383447
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<PAGE>      PAGE  4
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<PAGE>      PAGE  5
061  00AA00     1000
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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<PAGE>      PAGE  8
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<PAGE>      PAGE  9
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<PAGE>      PAGE  10
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<PAGE>      PAGE  11
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<PAGE>      PAGE  12
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<PAGE>      PAGE  13
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<PAGE>      PAGE  14
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<PAGE>      PAGE  15
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<PAGE>      PAGE  16
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<PAGE>      PAGE  17
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<PAGE>      PAGE  18
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<PAGE>      PAGE  19
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<PAGE>      PAGE  20
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<PAGE>      PAGE  21
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SIGNATURE   FREDERICK L. REYNOLDS                        
TITLE       PRESIDENT           
 


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