<PAGE> PAGE 1
000 A000000 06/30/97
000 C000000 0000931151
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 T. ROWE PRICE CAPITAL OPPORTUNITY FUND, INC.
001 B000000 811-07225
001 C000000 4103452000
002 A000000 100 EAST PRATT STREET
002 B000000 BALTIMORE
002 C000000 MD
002 D010000 21202
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
015 A000001 STATE STREET BANK AND TRUST COMPANY
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02110
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 78
019 C000000 TROWEPRICE
020 A000001 MORGAN STANLEY
020 B000001 13-2655998
020 C000001 24
020 A000002 MERRILL LYNCH
020 B000002 13-5674085
020 C000002 15
020 A000003 FIRST BOSTON
020 B000003 13-5659485
020 C000003 11
020 A000004 WOOD GUNDY
020 B000004 13-5492430
020 C000004 10
020 A000005 NATWEST SECURITIES
020 B000005 13-3341773
020 C000005 9
020 A000006 BEAR STEARNS
020 B000006 13-3299429
020 C000006 9
020 A000007 PAINE WEBBER
<PAGE> PAGE 2
020 B000007 13-2638166
020 C000007 8
020 A000008 INSTINET
020 B000008 13-3443395
020 C000008 7
020 A000009 OPPENHEIMER
020 B000009 13-2798343
020 C000009 6
020 A000010 SMITH BARNEY SHEARSON
020 B000010 13-1912900
020 C000010 5
021 000000 155
022 A000001 GOLDMAN SACHS
022 B000001 13-5108880
022 C000001 264266
022 D000001 3142
022 A000002 FIRST BOSTON
022 B000002 13-5659485
022 C000002 55390
022 D000002 8986
022 A000003 CHASE SECURITIES
022 B000003 13-3379014
022 C000003 22107
022 D000003 6991
022 A000004 LEHMAN BROTHERS
022 B000004 13-2518466
022 C000004 25832
022 D000004 0
022 A000005 MERRILL LYNCH
022 B000005 13-5674085
022 C000005 4910
022 D000005 653
022 A000006 PAINE WEBBER
022 B000006 13-2638166
022 C000006 3261
022 D000006 0
022 A000007 CHARLES SCHWAB
022 B000007 94-1737782
022 C000007 0
022 D000007 2525
022 A000008 HAMBRECHT & QUIST
022 B000008 94-2856935
022 C000008 2322
022 D000008 0
022 A000009 SMITH BARNEY SHEARSON
022 B000009 13-1912900
022 C000009 361
022 D000009 1846
022 A000010 OPPENHEIMER
022 B000010 13-2798343
022 C000010 777
<PAGE> PAGE 3
022 D000010 1207
023 C000000 382116
023 D000000 31487
028 A010000 4393
028 A020000 0
028 A030000 0
028 A040000 8779
028 B010000 2907
028 B020000 0
028 B030000 0
028 B040000 11128
028 C010000 2347
028 C020000 0
028 C030000 0
028 C040000 5213
028 D010000 2787
028 D020000 0
028 D030000 0
028 D040000 3785
028 E010000 1743
028 E020000 0
028 E030000 0
028 E040000 2893
028 F010000 2282
028 F020000 0
028 F030000 0
028 F040000 3546
028 G010000 16459
028 G020000 0
028 G030000 0
028 G040000 35344
028 H000000 0
037 000000 N
038 000000 0
039 000000 N
040 000000 N
049 000000 N
050 000000 N
051 000000 N
052 000000 Y
053 A000000 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 2500
062 A000000 N
<PAGE> PAGE 4
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
070 A010000 Y
070 A020000 Y
070 B010000 Y
070 B020000 N
070 C010000 Y
070 C020000 N
070 D010000 Y
070 D020000 N
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 N
070 K010000 Y
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 Y
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 N
070 Q010000 N
070 Q020000 N
<PAGE> PAGE 5
070 R010000 N
070 R020000 N
071 A000000 43326
071 B000000 57753
071 C000000 98685
071 D000000 44
072 A000000 6
072 B000000 337
072 C000000 455
072 D000000 0
072 E000000 0
072 F000000 429
072 G000000 0
072 H000000 0
072 I000000 200
072 J000000 10
072 K000000 8
072 L000000 9
072 M000000 4
072 N000000 25
072 O000000 0
072 P000000 0
072 Q000000 32
072 R000000 5
072 S000000 2
072 T000000 0
072 U000000 5
072 V000000 0
072 W000000 2
072 X000000 731
072 Y000000 0
072 Z000000 61
072AA000000 2990
072BB000000 0
072CC010000 600
072CC020000 0
072DD010000 0
072DD020000 0
072EE000000 0
073 A010000 0.0000
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 0
074 B000000 4271
074 C000000 9986
074 D000000 401
074 E000000 0
074 F000000 101061
074 G000000 0
074 H000000 0
<PAGE> PAGE 6
074 I000000 0
074 J000000 627
074 K000000 0
074 L000000 180
074 M000000 41
074 N000000 116567
074 O000000 6345
074 P000000 40
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 339
074 S000000 0
074 T000000 109843
074 U010000 6715
074 U020000 0
074 V010000 16.36
074 V020000 0.00
074 W000000 0.0000
074 X000000 12188
074 Y000000 0
075 A000000 0
075 B000000 109261
076 000000 0.00
077 A000000 N
SIGNATURE JAMES RIEPE
TITLE VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000931151
<NAME> TRP CAPITAL OPPORTUNITY FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 100292
<INVESTMENTS-AT-VALUE> 115719
<RECEIVABLES> 807
<ASSETS-OTHER> 41
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 116567
<PAYABLE-FOR-SECURITIES> 6345
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 379
<TOTAL-LIABILITIES> 6724
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 90346
<SHARES-COMMON-STOCK> 6715
<SHARES-COMMON-PRIOR> 7939
<ACCUMULATED-NII-CURRENT> 61
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 4008
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 15428
<NET-ASSETS> 109843
<DIVIDEND-INCOME> 455
<INTEREST-INCOME> 337
<OTHER-INCOME> 0
<EXPENSES-NET> 731
<NET-INVESTMENT-INCOME> 61
<REALIZED-GAINS-CURRENT> 2990
<APPREC-INCREASE-CURRENT> 600
<NET-CHANGE-FROM-OPS> 3651
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1073
<NUMBER-OF-SHARES-REDEEMED> 2297
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (15234)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1018
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 429
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 731
<AVERAGE-NET-ASSETS> 109261
<PER-SHARE-NAV-BEGIN> 15.75
<PER-SHARE-NII> .01
<PER-SHARE-GAIN-APPREC> .60
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 16.36
<EXPENSE-RATIO> 1.35
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
