<PAGE> PAGE 1
000 B000000 06/30/98
000 C000000 0000889392
000 D000000 N
000 E000000 NC
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 DOMINION FUNDS, INC.
001 B000000 811-6727
001 C000000 9723859595
002 A000000 5000 QUOROM DRIVE, SUITE 620
002 B000000 DALLAS
002 C000000 TX
002 D010000 75240
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
020 A000001 DOMINION CAPITAL CORPORATION
020 B000001 75-2141596
020 C000001 201
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 201
027 000000 Y
028 A010000 84
028 A020000 0
028 A030000 0
028 A040000 318
028 B010000 50
<PAGE> PAGE 2
028 B020000 0
028 B030000 0
028 B040000 492
028 C010000 110
028 C020000 0
028 C030000 0
028 C040000 1309
028 D010000 59
028 D020000 0
028 D030000 0
028 D040000 486
028 E010000 38
028 E020000 0
028 E030000 0
028 E040000 636
028 F010000 47
028 F020000 0
028 F030000 0
028 F040000 1087
028 G010000 388
028 G020000 0
028 G030000 0
028 G040000 4328
028 H000000 388
029 000000 Y
030 A000000 7
030 B000000 3.50
030 C000000 0.00
031 A000000 1
031 B000000 0
032 000000 0
033 000000 6
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
066 A000000 Y
<PAGE> PAGE 3
066 D000000 Y
071 A000000 64673
071 B000000 71415
071 C000000 22101
071 D000000 293
072 A000000 12
072 B000000 25
072 C000000 14
072 D000000 0
072 E000000 0
072 F000000 229
072 G000000 286
072 H000000 0
072 I000000 0
072 J000000 0
072 K000000 0
072 L000000 0
072 M000000 0
072 N000000 0
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 0
072 S000000 0
072 T000000 0
072 U000000 0
072 V000000 0
072 W000000 0
072 X000000 515
072 Y000000 0
072 Z000000 -476
072AA000000 10886
072BB000000 5392
072CC010000 0
072CC020000 1628
072DD010000 0
072DD020000 0
072EE000000 735
073 A010000 0.0000
073 A020000 0.0000
073 B000000 0.5700
073 C000000 0.0000
074 A000000 414
074 B000000 0
074 C000000 0
074 D000000 0
074 E000000 0
074 F000000 19119
074 G000000 0
074 H000000 0
074 I000000 0
<PAGE> PAGE 4
074 J000000 221
074 K000000 0
074 L000000 15
074 M000000 0
074 N000000 19769
074 O000000 484
074 P000000 19
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 15
074 S000000 0
074 T000000 19251
074 U010000 1096
074 U020000 0
074 V010000 17.56
074 V020000 0.00
074 W000000 0.0000
074 X000000 933
074 Y000000 0
075 A000000 0
075 B000000 22869
076 000000 0.00
077 A000000 Y
077 B000000 Y
077 Q010000 Y
080 A000000 AMERICAN INT'L SPECIALTY LINES INSURANCE COMP
080 C000000 500
081 A000000 N
081 B000000 0
082 A000000 Y
082 B000000 10
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 N
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
<PAGE> PAGE 5
SIGNATURE BRIAN E. WHITE
TITLE PRESIDENT
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
AUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED JUNE 30. 1997, AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUN-30-1998
<PERIOD-START> JUL-01-1997
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 15575
<INVESTMENTS-AT-VALUE> 19119
<RECEIVABLES> 236
<ASSETS-OTHER> 414
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 19769
<PAYABLE-FOR-SECURITIES> 484
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 35
<TOTAL-LIABILITIES> 519
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 15,200
<SHARES-COMMON-STOCK> 1096
<SHARES-COMMON-PRIOR> 1326
<ACCUMULATED-NII-CURRENT> (1656)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2151
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3545
<NET-ASSETS> 19251
<DIVIDEND-INCOME> 14
<INTEREST-INCOME> 25
<OTHER-INCOME> 0
<EXPENSES-NET> 515
<NET-INVESTMENT-INCOME> (476)
<REALIZED-GAINS-CURRENT> 5494
<APPREC-INCREASE-CURRENT> (1628)
<NET-CHANGE-FROM-OPS> 3390
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 735
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 85
<NUMBER-OF-SHARES-REDEEMED> 484
<SHARES-REINVESTED> 42
<NET-CHANGE-IN-ASSETS> (3693)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 229
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 515
<AVERAGE-NET-ASSETS> 22869
<PER-SHARE-NAV-BEGIN> 15.79
<PER-SHARE-NII> (.37)
<PER-SHARE-GAIN-APPREC> 2.71
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.57)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 17.56
<EXPENSE-RATIO> 2.25
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<PAGE>
INDEPENDENT AUDITOR'S REPORT
To the Shareholders and
Board of Directors of
Dominion Insight Growth Fund
In planning and performing our audit of the financial statements of Dominion
Insight Growth Fund for the year ended June 30, 1998, we considered its internal
control, including control activities for safeguarding securities, in order to
determine our auditing procedures for the purpose of expressing our opinion on
the financial statements and to comply with the requirements of Form N-SAR, not
to provide assurance on internal control.
The management of Dominion Insight Growth Fund is responsible for establishing
and maintaining internal control. In fulfilling this responsibility, estimates
and judgments by management are required to assess the expected benefits and
related costs of controls. Generally, controls that are relevant to an audit
pertain to the entity's objective of preparing financial statements for external
purposes that are fairly presented in conformity with generally accepted
accounting principles. Those controls include the safeguarding of assets against
unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, error or fraud may occur
and not be detected. Also, projection of any evaluation of internal control to
future periods is subject to the risk that it may become inadequate because of
changes in conditions or that the effectiveness of the design and operation may
deteriorate.
Our consideration of internal control would not necessarily disclose all matters
in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation of one or more
of the internal control components does not reduce to a relatively low level the
risk that misstatements caused by error or fraud in amounts that would be
material in relation to the financial statements being audited may occur and not
be detected within a timely period by employees in the normal course of
performing their assigned functions. However, we noted no matters involving
internal control and its operation, including controls for safeguarding
securities, that we consider to be material weaknesses as defined above as of
June 30, 1998.
This report is intended solely for the information and use of management, the
Board of Directors of Dominion Insight Growth Fund, and the Securities and
Exchange Commission.
KINDER & WYMAN, P.C.
Irving, Texas
July 15, 1998
