<PAGE> PAGE 1
000 A000000 10/31/96
000 C000000 0000864230
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 CALDWELL & ORKIN FUNDS, INC.
001 B000000 811-6113
001 C000000 4042390707
002 A000000 2050 TOWER PLACE, 3340 PEACHTREE ROAD
002 B000000 ATLANTA
002 C000000 GA
002 D010000 30326
003 000000 N
004 000000 N
005 000000 N
006 000000 N
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007 C020100 THE CALDWELL & ORKIN AGGRESSIVE GROWTH FUND
007 C030100 N
007 C010200 2
007 C020200 THE CALDWELL & ORKIN GROWTH FUND*
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007 C010300 3
007 C020300 THE CALDWELL & ORKIN TOTAL RETURN FUND*
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007 C010400 4
007 C010500 5
007 C020500 *NOTE THAT WHILE THREE FUNDS HAVE BEEN
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007 C010600 6
007 C020600 REGISTERED WITH THE SEC ONLY THE CALDWELL
007 C030600 N
007 C010700 7
007 C020700 AGGRESSIVE GROWTH FUND IS BEING OFFERED TO
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007 C010800 8
007 C020800 THE PUBLIC. THE REMAINING TWO FUNDS ARE NOT
007 C030800 N
007 C010900 9
007 C020900 BEING OFFERED TO THE PUBLIC AND ARE INACTIVE
007 C030900 N
007 C011000 10
018 00AA00 Y
019 A00AA00 N
019 B00AA00 0
<PAGE> PAGE 2
020 A000001 ROBINSON HUMPHREY
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020 C000001 22
020 A000002 WILLIAM O'NEAL
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020 A000003 MORGAN STANLEY
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020 A000007 000000000000000000000
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020 A000009 ALEX BROWN & SONS
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020 A000010 MERRILL LYNCH
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<PAGE> PAGE 3
022 A000006 MONTGOMERY SECURITIES
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022 C000006 3478
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022 A000007 OPPENHEIMER & COMPANY
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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
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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SIGNATURE LISA BROOKS
TITLE TREASURER
