<PAGE> PAGE 1
000 B000000 06/30/98
000 C000000 0000089043
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 Y
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 SEQUOIA FUND, INC.
001 B000000 811-1976
001 C000000 2128325280
002 A000000 767 FIFTH AVENUE, SUITE 4701
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10153
002 D020000 4798
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
015 A000001 THE BANK OF NEW YORK
015 B000001 C
015 C010001 NEW YORK
015 C020001 NY
015 C030001 10286
015 E010001 X
019 B000000 0
020 A000001 RUANE CUNNIFF & CO INC.
020 B000001 13-2628641
020 C000001 228
020 A000002 CANTOR FITZGERALD & CO INC.
020 B000002 95-1786286
020 C000002 96
020 A000003 SMITH BARNEY INC
020 B000003 13-1912900
020 C000003 96
020 A000004 JEFFERIES & CO INC
020 B000004 95-2622900
<PAGE> PAGE 2
020 C000004 32
020 A000005 CLEARY GULL REILAND & MCDEVITT INC
020 B000005 39-1567700
020 C000005 12
020 A000006 MERRILL LYNCH PIERCE FENNER & SMITH INC
020 B000006 13-5674085
020 C000006 11
020 A000007 ROBERT BAIRD & CO INC
020 B000007 39-6037917
020 C000007 6
020 A000008 GERARD KLAUER MATTISON & CO INC
020 B000008 13-3793124
020 C000008 3
020 A000009 DONALDSON LUFKIN & JENRETTE SECURITIES
020 B000009 13-2741729
020 C000009 3
020 C000010 0
021 000000 487
022 A000001 FUJI SECURITIES INC
022 B000001 36-2880742
022 C000001 568639
022 D000001 12904
022 A000002 THE BANK OF NEW YORK
022 B000002 13-5160382
022 C000002 308243
022 D000002 67008
022 A000003 KEEFE BRUYETTE & WOODS INC
022 B000003 13-1964616
022 C000003 0
022 D000003 9102
022 A000004 JONES & ASSOCIATES INC
022 B000004 95-3583143
022 C000004 0
022 D000004 3442
022 C000005 0
022 D000005 0
022 C000006 0
022 D000006 0
022 C000007 0
022 D000007 0
022 C000008 0
022 D000008 0
022 C000009 0
022 D000009 0
022 C000010 0
022 D000010 0
023 C000000 876882
023 D000000 92456
025 D000001 0
025 D000002 0
025 D000003 0
<PAGE> PAGE 3
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
027 000000 Y
028 A010000 24486
028 A020000 0
028 A030000 0
028 A040000 9949
028 B010000 31252
028 B020000 0
028 B030000 0
028 B040000 16500
028 C010000 31603
028 C020000 0
028 C030000 0
028 C040000 14706
028 D010000 44888
028 D020000 0
028 D030000 0
028 D040000 16346
028 E010000 21702
028 E020000 0
028 E030000 0
028 E040000 16557
028 F010000 26323
028 F020000 547
028 F030000 0
028 F040000 31041
028 G010000 180254
028 G020000 547
028 G030000 0
028 G040000 105099
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
038 000000 0
039 000000 N
040 000000 N
042 A000000 0
<PAGE> PAGE 4
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
048 000000 0.000
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
061 000000 0
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
<PAGE> PAGE 5
063 A000000 0
063 B000000 0.0
066 A000000 Y
066 B000000 N
066 C000000 N
066 D000000 Y
066 E000000 N
066 F000000 N
066 G000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
071 A000000 625452
071 B000000 569002
071 C000000 4152820
071 D000000 14
072 A000000 6
072 B000000 12116
072 C000000 12016
072 D000000 0
072 E000000 0
072 F000000 20995
072 G000000 0
072 H000000 0
072 I000000 191
072 J000000 42
072 K000000 0
072 L000000 0
072 M000000 77
072 N000000 0
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 14
072 S000000 46
072 T000000 0
072 U000000 0
072 V000000 0
072 W000000 77
072 X000000 21442
072 Y000000 371
072 Z000000 3061
072AA000000 219914
072BB000000 0
072CC010000 838607
072CC020000 0
072DD010000 0
072DD020000 0
072EE000000 596
073 A010000 0.0000
<PAGE> PAGE 6
073 A020000 0.0000
073 B000000 0.0200
073 C000000 0.0000
074 A000000 11977
074 B000000 0
074 C000000 700879
074 D000000 0
074 E000000 0
074 F000000 4094645
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 0
074 K000000 0
074 L000000 11079
074 M000000 31
074 N000000 4818611
074 O000000 0
074 P000000 0
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 9358
074 S000000 0
074 T000000 4809253
074 U010000 29769
074 U020000 0
074 V010000 161.55
074 V020000 0.00
074 W000000 0.0000
074 X000000 11808
074 Y000000 0
075 A000000 0
075 B000000 4230868
076 000000 0.00
077 A000000 N
078 000000 N
080 A000000 VIGILANT INSURANCE COMPANY
080 C000000 15000
081 A000000 N
081 B000000 0
082 A000000 Y
082 B000000 150
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
086 A010000 0
<PAGE> PAGE 7
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 RICHARD T CUNNIFF
TITLE PRESIDENT