<PAGE> PAGE 1
000 B000000 04/30/96
000 C000000 0001001388
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
007 A000000 Y
007 B000000 3
007 C010100 1
007 C020100 THE CALDWELL & ORKIN AGGRESSIVE GROWTH FUND
007 C030100 N
007 C010200 2
007 C020200 THE CALDWELL & ORKIN GROWTH FUND*
007 C030200 N
007 C010300 3
007 C020300 THE CALDWELL & ORKIN TOTAL RETURN FUND*
007 C030300 N
007 C010400 4
007 C010500 5
007 C020500 *NOTE THAT WHILE THREE FUNDS HAVE BEEN
007 C030500 N
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
007 C030700 N
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
020 B000001 58-1472560
020 C000001 49
020 A000002 WILLIAM O'NEAL
020 B000002 95-2269163
020 C000002 24
020 A000003 MORGAN STANLEY
020 B000003 13-2655998
020 C000003 23
020 A000004 BEAR STEARNS
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020 C000004 13
020 A000005 ROBINSON HUMPHREY
020 B000005 13-2518466
020 C000005 12
020 A000006 PAINE WEBBER
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020 C000006 7
020 A000007 PRUDENTIAL BACHE
020 B000007 22-2347336
020 C000007 6
020 A000008 DONALDSON LUFKIN & JENRETTE
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020 C000008 6
020 A000009 ALEX BROWN & SONS
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020 C000009 5
020 A000010 SALOMON BROTHERS
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020 C000010 5
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022 A000001 SMITH BARNEY
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022 D000004 3008
022 A000005 SOUTHCOAST CAPITAL
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022 C000005 3711
022 D000005 4030
<PAGE> PAGE 3
022 A000006 MONTGOMERY SECURITIES
022 B000006 94-1701676
022 C000006 1047
022 D000006 2760
022 A000007 OPPENHEIMER & COMPANY
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022 D000008 3735
022 A000009 ROBINSON HUMPHREY
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022 C000009 1936
022 D000009 3414
022 A000010 DONALDSON LUFKIN & JENRETTE
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022 C000010 1685
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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
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000864230
<NAME> THE C & O FUNDS, INC.
<S> <C>
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<FISCAL-YEAR-END> APR-30-1996
<PERIOD-END> APR-30-1996
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<INVESTMENTS-AT-VALUE> $28,105,753
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<SENIOR-EQUITY> $0
<PAID-IN-CAPITAL-COMMON> $30,516,549
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<ACCUMULATED-NII-CURRENT> $638,749
<OVERDISTRIBUTION-NII> $0
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