<PAGE> PAGE 1
000 A000000 04/30/94
000 C000000 0000865827
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 2.2
000 J000000 A
001 A000000 THE BAUPOST FUND
001 B000000 811-6138
001 C000000 6174976680
002 A000000 44 BRATTLE ST., P.O. BOX 381288
002 B000000 CAMBRIDGE
002 C000000 MA
002 D010000 02238
002 D020000 9125
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
008 A000001 THE BAUPOST GROUP, INC.
008 B000001 A
008 C000001 801-17244
008 D010001 CAMBRIDGE
008 D020001 MA
008 D030001 02238
008 D040001 9125
010 A000001 THE BAUPOST GROUP, INC.
010 C010001 CAMBRIDGE
010 C020001 MA
010 C030001 02238
010 C040001 9125
012 A000001 THE BAUPOST GROUP, INC.
012 B000001 84-000000
012 C010001 CAMBRIDGE
012 C020001 MA
012 C030001 02238
012 C040001 9125
013 A000001 ERNST & YOUNG
013 B010001 BOSTON
013 B020001 MA
013 B030001 02116
013 B040001 5072
015 A000001 UNITED STATES TRUST COMPANY OF NEW YORK
015 B000001 C
015 C010001 NEW YORK
015 C020001 NY
015 C030001 10036
<PAGE> PAGE 2
015 C040001 1521
015 E010001 X
015 A000002 TORONTO DOMINION BANK
015 B000002 S
015 C010002 TORONTO
015 D010002 CANADA
015 D020002 MK5 1A2
015 E040002 X
015 A000003 BANQUE INDOSUEZ
015 B000003 S
015 C010003 PARIS
015 D010003 FRANCE
015 D020003 75008
015 E040003 X
015 A000004 BERLINER HANDELS - UND FRANKFURTER BANK
015 B000004 S
015 C010004 FRANKFURT AM MAIN
015 D010004 GERMANY
015 D020004 6000
015 E040004 X
015 A000005 HONG KONG AND SHANGHAI BANKING CORP. LTD.
015 B000005 S
015 C010005 HONG KONG
015 D010005 HONG KONG
015 E040005 X
015 A000006 MITSUBISHI BANK
015 B000006 S
015 C010006 TOKYO
015 D010006 JAPAN
015 D020006 TOKYO 100
015 E040006 X
015 A000007 OVERSEA-CHINESE BANKING CORP. LTD.
015 B000007 S
015 C010007 SINGAPORE
015 D010007 SINGAPORE
015 D020007 0104
015 E040007 X
015 A000008 ABN AMRO HOLDING NV
015 B000008 S
015 C010008 AMSTERDAM
015 D010008 THE NETHERLANDS
015 D020008 100EA
015 E040008 X
015 A000009 BANK OF NEW ZEALAND
015 B000009 S
015 C010009 WELLINGTON
015 D010009 NEW ZEALAND
015 E040009 X
015 A000010 BANCO SANTANDER
015 B000010 S
015 C010010 MADRID
<PAGE> PAGE 3
015 D010010 SPAIN
015 D020010 28022
015 E040010 X
015 A000011 MORGAN GUARANTY TRUST COMPANY OF NEW YORK
015 B000011 S
015 C010011 ZURICH
015 D010011 SWITZERLAND
015 D020011 CH-8022
015 E040011 X
015 A000012 STANDARD CHARTERED BANK
015 B000012 S
015 C010012 BANGKOK
015 D010012 THAILAND
015 D020012 10500
015 E040012 X
015 A000013 BARCLAY'S PLC
015 B000013 S
015 C010013 LONDON
015 D010013 UNITED KINGDOM
015 D020013 EC3P 3HP
015 E040013 X
015 A000014 MORGAN STANLEY TRUST COMPANY
015 B000014 S
015 C010014 JERSEY CITY
015 C020014 NJ
015 C030014 07302
015 E040014 X
015 A000015 CREDITANSTALT-BANKVEREIN, VIENNA
015 B000015 S
015 C010015 VIENNA
015 D010015 AUSTRIA
015 D020015 A-1091
015 E040015 X
015 A000016 DEN DANSKE BANK A/S
015 B000016 S
015 C010016 COPENHAGEN
015 D010016 DENMARK
015 D020016 DK-10923
015 E040016 X
015 A000017 UNION BANK OF FINLAND
015 B000017 S
015 C010017 HELSINKI
015 D010017 FINLAND
015 D020017 FI-00101
015 E040017 X
015 A000018 OVERSEAS CHINESE BANKING CORPORATION, LTD.
015 B000018 S
015 C010018 KUALA LAMPUR
015 D010018 MALAYSIA
015 D020018 50100
015 E040018 X
<PAGE> PAGE 4
015 A000019 DEN NORSKE BANK
015 B000019 S
015 C010019 OSLO
015 D010019 NORWAY
015 D020019 N-0107
015 E040019 X
015 A000020 SVENSKA HANDELSBANKEN
015 B000020 S
015 C010020 STOCKHOLM
015 D010020 SWEDEN
015 D020020 S-10670
015 E040020 X
015 A000021 SANWA BANK
015 B000021 S
015 C010021 TOKYO
015 D010021 JAPAN
015 E040021 X
018 000000 Y
019 A000000 N
019 B000000 0
020 A000001 OPPENHEIMER & CO., INC.
020 B000001 13-2798343
020 C000001 36
020 A000002 LEVERAGED EQUITY MANAGEMENT
020 B000002 94-3126935
020 C000002 21
020 A000003 CROWN FINANCIAL ASSOCIATES
020 B000003 65-0047712
020 C000003 16
020 A000004 PAINE WEBBER
020 B000004 13-2760086
020 C000004 15
020 A000005 T.R. WINSTON
020 B000005 22-2383665
020 C000005 13
020 A000006 GOLDMAN SACHS & COMPANY
020 B000006 13-5108880
020 C000006 7
020 A000007 ROBOTTI
020 B000007 11-2627501
020 C000007 7
020 A000008 ROBERT FLEMING, INC.
020 B000008 13-3298866
020 C000008 4
020 A000009 CAZENOVE, INC.
020 B000009 94-1658752
020 C000009 4
020 A000010 FURMAN SELZ, INC.
020 B000010 13-2753731
020 C000010 4
021 000000 151
<PAGE> PAGE 5
022 A000001 UNITED STATES TRUST COMPANY - NY
022 B000001 13-6065575
022 C000001 494104
022 D000001 14372
022 A000002 SALOMON BROTHERS, INC.
022 B000002 22-1660266
022 C000002 36879
022 D000002 18194
022 A000003 FIRST BOSTON CORP.
022 B000003 13-5659485
022 C000003 13995
022 D000003 8640
022 A000004 MORGAN STANLEY
022 B000004 13-2655998
022 C000004 18285
022 D000004 0
022 A000005 LIBRA INVESTMENTS, INC.
022 B000005 95-4326949
022 C000005 7873
022 D000005 0
022 A000006 FRIEDMAN, BILLINGS, RAMSEY
022 B000006 52-1630477
022 C000006 2945
022 D000006 3283
022 A000007 LEVERAGED EQUITY MANAGEMENT
022 B000007 94-3126935
022 C000007 0
022 D000007 3895
022 A000008 JEFFRIES
022 B000008 95-2622900
022 C000008 0
022 D000008 2217
022 A000009 KEEFE, BRUYETTE & WOODS
022 B000009 13-1964616
022 C000009 616
022 D000009 1555
022 A000010 SMITH BARNEY
022 B000010 13-1913900
022 C000010 2111
022 D000010 0
023 C000000 594486
023 D000000 64692
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 6
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
028 A010000 1437
028 A020000 0
028 A030000 0
028 A040000 618
028 B010000 5170
028 B020000 9751
028 B030000 0
028 B040000 1132
028 C010000 2850
028 C020000 0
028 C030000 0
028 C040000 113
028 D010000 1672
028 D020000 0
028 D030000 0
028 D040000 213
028 E010000 1269
028 E020000 0
028 E030000 0
028 E040000 5700
028 F010000 323
028 F020000 0
028 F030000 0
028 F040000 784
028 G010000 12721
028 G020000 9751
028 G030000 0
028 G040000 8560
028 H000000 0
029 000000 N
030 A000000 0
030 B000000 0.00
030 C000000 0.00
031 A000000 0
031 B000000 0
032 000000 0
033 000000 0
034 000000 N
035 000000 0
036 B000000 0
037 000000 N
<PAGE> PAGE 7
038 000000 0
039 000000 N
040 000000 N
042 A000000 0
042 B000000 0
042 C000000 0
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 0
044 000000 0
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 Y
053 B000000 Y
053 C000000 N
054 A000000 Y
054 B000000 Y
054 C000000 Y
054 D000000 N
054 E000000 N
<PAGE> PAGE 8
054 F000000 N
054 G000000 Y
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 Y
054 L000000 Y
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 N
060 B000000 N
061 000000 50000
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 N
066 D000000 N
066 E000000 N
066 F000000 N
066 G000000 Y
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
<PAGE> PAGE 9
070 A020000 Y
070 B010000 Y
070 B020000 Y
070 C010000 Y
070 C020000 N
070 D010000 Y
070 D020000 Y
070 E010000 Y
070 E020000 N
070 F010000 Y
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 Y
070 K010000 Y
070 K020000 Y
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 Y
070 N010000 N
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 N
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 Y
070 R020000 Y
071 A000000 64011
071 B000000 36747
071 C000000 41886
071 D000000 88
072 A000000 6
072 B000000 966
072 C000000 202
072 D000000 0
072 E000000 0
072 F000000 410
072 G000000 0
072 H000000 0
072 I000000 103
072 J000000 36
072 K000000 0
072 L000000 0
<PAGE> PAGE 10
072 M000000 11
072 N000000 12
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 17
072 S000000 36
072 T000000 0
072 U000000 18
072 V000000 0
072 W000000 23
072 X000000 666
072 Y000000 29
072 Z000000 531
072AA000000 5383
072BB000000 27
072CC010000 0
072CC020000 2253
072DD010000 2364
072DD020000 0
072EE000000 7388
073 A010000 0.4600
073 A020000 0.0000
073 B000000 1.4300
073 C000000 0.0000
074 A000000 1
074 B000000 5626
074 C000000 17972
074 D000000 9441
074 E000000 0
074 F000000 29205
074 G000000 28
074 H000000 0
074 I000000 22639
074 J000000 1115
074 K000000 0
074 L000000 132
074 M000000 73
074 N000000 86232
074 O000000 1809
074 P000000 241
074 Q000000 0
074 R010000 0
074 R020000 933
074 R030000 0
074 R040000 76
074 S000000 0
074 T000000 83173
074 U010000 6160983
074 U020000 0
074 V010000 13.50
<PAGE> PAGE 11
074 V020000 0.00
074 W000000 0.0000
074 X000000 352
074 Y000000 1600
075 A000000 0
075 B000000 81577
076 000000 0.00
077 A000000 N
078 000000 N
080 C000000 0
081 B000000 0
082 B000000 0
083 B000000 0
084 B000000 0
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
086 F020000 0
SIGNATURE PAUL C. GANNON
TITLE CFO / VP
