<PAGE> PAGE 1
000 A000000 09/30/96
000 C000000 0000933781
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 BUFFALO HIGH YIELD FUND, INC.
001 B000000 811-8898
001 C000000 8164715200
002 A000000 THREE CROWN CENTER, 2440 PERSHING ROAD
002 B000000 KANSAS CITY
002 C000000 MO
002 D010000 64108
002 D020000 2561
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
020 A000001 DEAN WITTER
020 C000001 6
020 A000002 ROBERTSON STEPHENS & CO
020 C000002 3
020 A000003 COMMERZBANK CAPITAL MKTS
020 C000003 0
020 A000004 CANTOR FITZGERALD
020 C000004 0
020 A000005 LEGG MASON
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 9
022 A000001 UMB BANK, N.A.
022 C000001 183860
022 D000001 425
022 A000002 COMMERZBANK CAPITAL MKTS
022 C000002 3781
022 D000002 101
022 A000003 BEAR STEARNS & CO
022 C000003 528
022 D000003 0
022 A000004 CS FIRST BOSTON CORP
022 C000004 495
022 D000004 0
<PAGE> PAGE 2
022 A000005 MCMAHON SECURITIES
022 C000005 495
022 D000005 0
022 A000006 SMITH BARNEY HARRIS UPHAM
022 C000006 480
022 D000006 0
022 A000007 DEAN WITTER & CO
022 C000007 150
022 D000007 340
022 A000008 BOETTCHER & CO
022 C000008 199
022 D000008 0
022 A000009 DONALDSON LUFKIN & JENRETTE
022 C000009 107
022 D000009 0
022 A000010 JEFFERIES & CO
022 C000010 97
022 D000010 0
023 C000000 193368
023 D000000 1022
028 A010000 644
028 A020000 0
028 A030000 0
028 A040000 55
028 B010000 613
028 B020000 0
028 B030000 0
028 B040000 267
028 C010000 515
028 C020000 121
028 C030000 0
028 C040000 74
028 D010000 2490
028 D020000 0
028 D030000 0
028 D040000 420
028 E010000 1899
028 E020000 0
028 E030000 0
028 E040000 277
028 F010000 563
028 F020000 206
028 F030000 0
028 F040000 185
028 G010000 6724
028 G020000 327
028 G030000 0
028 G040000 1278
028 H000000 0
055 A000000 Y
055 B000000 N
<PAGE> PAGE 3
056 000000 Y
057 000000 N
062 A000000 Y
062 B000000 0.0
062 C000000 0.0
062 D000000 8.5
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 3.9
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 84.2
062 Q000000 3.4
062 R000000 0.0
063 A000000 0
063 B000000 9.3
064 A000000 N
064 B000000 N
066 A000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
071 A000000 6510
071 B000000 1402
071 C000000 8532
071 D000000 16
072 A000000 6
072 B000000 413
072 C000000 27
072 D000000 0
072 E000000 0
072 F000000 47
072 G000000 0
072 H000000 0
072 I000000 0
072 J000000 0
072 K000000 0
072 L000000 0
072 M000000 0
072 N000000 24
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 0
<PAGE> PAGE 4
072 S000000 0
072 T000000 0
072 U000000 0
072 V000000 0
072 W000000 0
072 X000000 71
072 Y000000 0
072 Z000000 369
072AA000000 161
072BB000000 0
072CC010000 245
072CC020000 0
072DD010000 365
072DD020000 0
072EE000000 0
073 A010000 0.3800
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 153
074 B000000 1145
074 C000000 0
074 D000000 11354
074 E000000 453
074 F000000 0
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 304
074 K000000 0
074 L000000 350
074 M000000 0
074 N000000 13759
074 O000000 276
074 P000000 0
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 0
074 S000000 0
074 T000000 13483
074 U010000 1162
074 U020000 0
074 V010000 11.60
074 V020000 0.00
074 W000000 0.0000
074 X000000 1199
074 Y000000 0
075 A000000 0
075 B000000 10402
<PAGE> PAGE 5
076 000000 0.00
077 A000000 N
SIGNATURE MICHAEL A BRUMMEL
TITLE VICE PRESIDENT
