<PAGE> PAGE 1
000 A000000 06/30/96
000 C000000 901246
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 GABELLI CAPITAL SERIES FUND, INC.
001 B000000 811-7644
001 C000000 9149215070
002 A000000 ONE CORPORATE CENTER
002 B000000 RYE
002 C000000 NY
002 D010000 10580
002 D020000 1434
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
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007 C010100 1
007 C020100 GABELLI CAPITAL ASSET FUND
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007 C010700 7
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008 A00AA01 GABELLI FUNDS, INC.
008 B00AA01 S
008 C00AA01 801-37706
008 D01AA01 RYE
008 D02AA01 NY
008 D03AA01 10580
008 A00AA02 GUARDIAN INVESTOR SERVICES CORPORATION
008 B00AA02 A
008 C00AA02 801-9654
008 D01AA02 LEHIGH
008 D02AA02 PA
008 D03AA02 18002
010 A00AA01 FIRST DATA INVESTOR SERVICES GROUP, INC.
010 B00AA01 84-1764
010 C01AA01 BOSTON
010 C02AA01 MA
<PAGE> PAGE 2
010 C03AA01 02109
011 A00AA01 GABELLI & COMPANY, INC.
011 B00AA01 8-21373
011 C01AA01 RYE
011 C02AA01 NY
011 C03AA01 10580
012 A00AA01 STATE STREET BANK AND TRUST COMPANY
012 B00AA01 85-5003
012 C01AA01 QUINCY
012 C02AA01 MA
012 C03AA01 02171
013 A00AA01 ERNST & YOUNG LLP
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10172
014 A00AA01 IFG NETWORK SECURITIES INC.
014 B00AA01 8-37937
014 A00AA02 KEELEY INVESTMENT CORPORATION
014 B00AA02 8-20353
014 A00AA03 GABELLI & COMPANY, INC.
014 B00AA03 8-21373
015 A00AA01 STATE STREET BANK AND TRUST COMPANY
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015 C03AA01 02171
015 E01AA01 X
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019 C00AA00 GABELLIGRP
020 A000001 GABELLI & COMPANY
020 B000001 13-2885006
020 C000001 31
020 A000002 ASIEL & COMPANY
020 B000002 13-4933080
020 C000002 7
020 A000003 HERZOG, HEINE, GEDULD INC.
020 B000003 13-1955436
020 C000003 5
020 A000004 INSTINET CORPORATION
020 B000004 13-2596491
020 C000004 3
020 A000005 BROWN (ALEX) & SONS INC.
020 B000005 52-0256630
020 C000005 2
020 A000006 ALLEN & COMPANY, INC.
020 B000006 13-6176976
020 C000006 1
020 A000007 LEGG MASON
020 B000007 52-1235572
<PAGE> PAGE 3
020 C000007 1
020 A000008 RAGAN MACKENZIE
020 B000008 91-3742805
020 C000008 1
020 A000009 CANTOR FITZGERALD SECURITIES
020 B000009 13-2698893
020 C000009 1
020 A000010 LADENBURG, THALMON & COMPANY
020 B000010 13-2700032
020 C000010 1
021 000000 58
022 A000001 STATE STREET BANK & TRUST COMPANY
022 B000001 04-1867745
022 C000001 30280
022 D000001 20115
022 A000002 PIPER JAFFRAY
022 B000002 41-0953246
022 C000002 897
022 D000002 0
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022 C000003 472
022 D000003 0
022 A000004 MERRILL LYNCH
022 B000004 13-5674085
022 C000004 342
022 D000004 0
022 A000005 GOLDMAN SACHS & COMPANY
022 B000005 13-5108880
022 C000005 253
022 D000005 0
022 A000006 FURMAN SELZ
022 B000006 13-3856626
022 C000006 252
022 D000006 0
022 A000007 LEHMAN BROTHERS
022 B000007 13-2518466
022 C000007 241
022 D000007 0
022 A000008 MONTGOMERY SECURITEIS
022 B000008 94-1701676
022 C000008 82
022 D000008 0
022 A000009 LAZARD FRERES & CO.
022 B000009 13-5545100
022 C000009 70
022 D000009 0
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<PAGE> PAGE 4
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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 BRUCE N. ALPERT
TITLE V.PRESIDENT/TREAS
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 001
<NAME> GABELLI CAPITAL ASSET FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 41,723,239
<INVESTMENTS-AT-VALUE> 45,401,512
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<TOTAL-LIABILITIES> 543,240
<SENIOR-EQUITY> 0
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<SHARES-COMMON-STOCK> 3,781,009
<SHARES-COMMON-PRIOR> 2,463,338
<ACCUMULATED-NII-CURRENT> 56,196
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 672,948
<OVERDISTRIBUTION-GAINS> 0
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<NET-ASSETS> 45,024,413
<DIVIDEND-INCOME> 166,024
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<EQUALIZATION> 0
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<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,724,314
<NUMBER-OF-SHARES-REDEEMED> (406,643)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 18,660,471
<ACCUMULATED-NII-PRIOR> 511
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
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</TABLE>
