KIEWIT INVESTMENT TRUST
NSAR-A, 1998-02-26
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<PAGE>      PAGE  1
000 A000000 12/31/97
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000 J000000 A
001 A000000 KIEWIT INVESTMENT TRUST
001 B000000 811-08067
001 C000000 3026518280
002 A000000 RODNEY SQUARE NORTH, 1100 N. MARKET ST.
002 B000000 WILMINGTON
002 C000000 DE
002 D010000 19890
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<PAGE>      PAGE  2
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008 D01AA01 OMAHA
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008 D04AA01 3374
010 A00AA01 RODNEY SQUARE MANAGEMENT CORPORATION
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<PAGE>      PAGE  3
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<PAGE>      PAGE  4
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<PAGE>      PAGE  5
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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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<PAGE>      PAGE  10
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<PAGE>      PAGE  11
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<PAGE>      PAGE  12
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<PAGE>      PAGE  13
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<PAGE>      PAGE  15
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<PAGE>      PAGE  17
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028 A020400         0
028 A030400         0
028 A040400         0
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028 B020400         0
028 B030400         0
028 B040400         0
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028 C020400         0
028 C030400         0
028 C040400         0
028 D010400         0
028 D020400         0
028 D030400         0
028 D040400         0
028 E010400         0
028 E020400         0
028 E030400         0
028 E040400         0
028 F010400         0
028 F020400         0
028 F030400         0
028 F040400         0
028 G010400         0
028 G020400         0
028 G030400         0
028 G040400         0
028 H000400         0
045  000400 Y
046  000400 N
047  000400 Y
048  000400  0.400
048 A010400        0
048 A020400 0.000
048 B010400        0
048 B020400 0.000
048 C010400        0
048 C020400 0.000
048 D010400        0
048 D020400 0.000
048 E010400        0
048 E020400 0.000
048 F010400        0
048 F020400 0.000
048 G010400        0
048 G020400 0.000
048 H010400        0
048 H020400 0.000
048 I010400        0
<PAGE>      PAGE  20
048 I020400 0.000
048 J010400        0
048 J020400 0.000
048 K010400        0
048 K020400 0.000
062 A000400 Y
062 B000400   0.0
062 C000400   0.0
062 D000400   0.0
062 E000400   0.0
062 F000400   0.0
062 G000400   0.0
062 H000400   0.0
062 I000400   0.0
062 J000400   0.0
062 K000400   0.0
062 L000400   0.0
062 M000400   0.0
062 N000400   0.0
062 O000400  97.9
062 P000400   0.0
062 Q000400   0.0
062 R000400   4.0
063 A000400   0
063 B000400  4.5
064 A000400 Y
064 B000400 N
066 A000400 N
067  000400 N
068 A000400 N
068 B000400 N
069  000400 N
070 A010400 Y
070 A020400 N
070 B010400 N
070 B020400 N
070 C010400 N
070 C020400 N
070 D010400 N
070 D020400 N
070 E010400 Y
070 E020400 N
070 F010400 N
070 F020400 N
070 G010400 Y
070 G020400 N
070 H010400 N
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
<PAGE>      PAGE  21
070 J020400 N
070 K010400 Y
070 K020400 Y
070 L010400 N
070 L020400 N
070 M010400 N
070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 Y
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400    115466
071 B000400     96513
071 C000400    134080
071 D000400   72
072 A000400  6
072 B000400     3270
072 C000400        0
072 D000400        0
072 E000400        0
072 F000400      232
072 G000400       35
072 H000400        0
072 I000400        0
072 J000400        8
072 K000400        0
072 L000400        0
072 M000400        2
072 N000400        0
072 O000400        0
072 P000400        0
072 Q000400       30
072 R000400        6
072 S000400        1
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072 U000400        0
072 V000400        0
072 W000400        5
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072 Z000400     2951
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<PAGE>      PAGE  22
072DD010400        0
072DD020400        0
072EE000400        0
073 A010400   0.0000
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073 B000400   0.0000
073 C000400   0.0000
074 A000400        0
074 B000400        0
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074 D000400   154735
074 E000400        0
074 F000400        0
074 G000400        0
074 H000400        0
074 I000400     6278
074 J000400        0
074 K000400        0
074 L000400     2198
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074 O000400     5125
074 P000400      120
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074 R040400       31
074 S000400        0
074 T000400   157935
074 U010400        0
074 U020400        0
074 V010400     0.00
074 V020400     0.00
074 W000400   0.0000
074 X000400        0
074 Y000400        0
075 A000400        0
075 B000400   143349
076  000400     0.00
024  000500 Y
025 A000501 MERRILL LYNCH & CO., INC.
025 B000501 13-5674085
025 C000501 E
025 D000501     328
025 A000502 MORGAN STANLEY, DEAN WITTER, DISCOVER & CO.
025 B000502 13-2655998
025 C000502 E
025 D000502     473
025 D000503       0
025 D000504       0
<PAGE>      PAGE  23
025 D000505       0
025 D000506       0
025 D000507       0
025 D000508       0
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028 A030500         0
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028 C040500         0
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028 D030500         0
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028 F040500         0
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028 G030500         0
028 G040500         0
028 H000500         0
045  000500 Y
046  000500 N
047  000500 Y
048  000500  0.700
048 A010500        0
048 A020500 0.000
048 B010500        0
048 B020500 0.000
048 C010500        0
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048 D010500        0
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048 E010500        0
048 E020500 0.000
048 F010500        0
048 F020500 0.000
048 G010500        0
048 G020500 0.000
<PAGE>      PAGE  24
048 H010500        0
048 H020500 0.000
048 I010500        0
048 I020500 0.000
048 J010500        0
048 J020500 0.000
048 K010500        0
048 K020500 0.000
062 A000500 N
062 B000500   0.0
062 C000500   0.0
062 D000500   0.0
062 E000500   0.0
062 F000500   0.0
062 G000500   0.0
062 H000500   0.0
062 I000500   0.0
062 J000500   0.0
062 K000500   0.0
062 L000500   0.0
062 M000500   0.0
062 N000500   0.0
062 O000500   0.0
062 P000500   0.0
062 Q000500   0.0
062 R000500   0.0
063 A000500   0
063 B000500  0.0
066 A000500 Y
066 B000500 N
066 C000500 Y
066 D000500 N
066 E000500 N
066 F000500 N
066 G000500 N
067  000500 N
068 A000500 N
068 B000500 N
069  000500 N
070 A010500 Y
070 A020500 Y
070 B010500 Y
070 B020500 Y
070 C010500 N
070 C020500 N
070 D010500 Y
070 D020500 N
070 E010500 Y
070 E020500 N
070 F010500 Y
070 F020500 N
<PAGE>      PAGE  25
070 G010500 Y
070 G020500 N
070 H010500 Y
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 Y
070 J020500 N
070 K010500 Y
070 K020500 N
070 L010500 Y
070 L020500 N
070 M010500 N
070 M020500 N
070 N010500 Y
070 N020500 N
070 O010500 Y
070 O020500 N
070 P010500 Y
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 N
070 R020500 N
071 A000500     86526
071 B000500     78103
071 C000500     89991
071 D000500   87
072 A000500  6
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072 C000500      660
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<PAGE>      PAGE  26
072 X000500      353
072 Y000500        0
072 Z000500      430
072AA000500    12732
072BB000500        0
072CC010500        0
072CC020500     4700
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073 A010500   0.0000
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074 D000500        0
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074 U010500        0
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074 W000500   0.0000
074 X000500        0
074 Y000500        0
075 A000500        0
075 B000500    94376
076  000500     0.00
SIGNATURE   KENNETH D. GASKINS, ESQ.                     
TITLE       SECRETARY           
 


<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
KIEWIT INVESTMENT TRUST
</LEGEND>
<CIK> 0001034382
<NAME> KIEWIT MONEY MARKET SERIES
<SERIES>
   <NUMBER> 01
   <NAME> KIEWIT MONEY MARKET SERIES
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUN-30-1998
<PERIOD-END>                               DEC-31-1997
<INVESTMENTS-AT-COST>                          521,421
<INVESTMENTS-AT-VALUE>                         521,421
<RECEIVABLES>                                       16
<ASSETS-OTHER>                                       1
<OTHER-ITEMS-ASSETS>                                 0
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<SENIOR-EQUITY>                                      0
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<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
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<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                    521223
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                               16,729
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     469
<NET-INVESTMENT-INCOME>                         16,260
<REALIZED-GAINS-CURRENT>                           (1)
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                           16,259
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                          87,751
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
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<OVERDIST-NET-GAINS-PRIOR>                           0
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<PER-SHARE-NAV-BEGIN>                                0
<PER-SHARE-NII>                                      0
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<EXPENSE-RATIO>                                   0.16
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
KIEWIT INVESTMENT TRUST
</LEGEND>
<CIK> 0001034382
<NAME> KIEWIT SHORT-TERM GOVERNMENT SERIES
<SERIES>
   <NUMBER> 02
   <NAME> KIEWIT SHORT-TERM GOVERNMENT SERIES
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUN-30-1998
<PERIOD-END>                               DEC-31-1997
<INVESTMENTS-AT-COST>                          251,844
<INVESTMENTS-AT-VALUE>                         252,472
<RECEIVABLES>                                    4,356
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 256,828
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          101
<TOTAL-LIABILITIES>                                101
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                             0
<SHARES-COMMON-STOCK>                                0
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                   256,727
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                4,641
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     191
<NET-INVESTMENT-INCOME>                          4,450
<REALIZED-GAINS-CURRENT>                           475
<APPREC-INCREASE-CURRENT>                          392
<NET-CHANGE-FROM-OPS>                            5,317
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                         126,621
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              236
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    326
<AVERAGE-NET-ASSETS>                           155,813
<PER-SHARE-NAV-BEGIN>                                0
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                  0
<EXPENSE-RATIO>                                   0.24
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
KIEWIT INVESTMENT TRUST
</LEGEND>
<CIK> 0001034382
<NAME> KIEWIT INTERMEDIATE-TERM BOND
<SERIES>
   <NUMBER> 03
   <NAME> KIEWIT INTERMEDIATE-TERM BOND
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUN-30-1998
<PERIOD-END>                               DEC-31-1997
<INVESTMENTS-AT-COST>                          243,181
<INVESTMENTS-AT-VALUE>                         245,345
<RECEIVABLES>                                    3,493
<ASSETS-OTHER>                                       1
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 248,839
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          182
<TOTAL-LIABILITIES>                                182
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                             0
<SHARES-COMMON-STOCK>                                0
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                   248,657
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                4,465
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     311
<NET-INVESTMENT-INCOME>                          4,154
<REALIZED-GAINS-CURRENT>                           935
<APPREC-INCREASE-CURRENT>                        2,013
<NET-CHANGE-FROM-OPS>                            7,102
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
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<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                               0
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              289
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    336
<AVERAGE-NET-ASSETS>                           139,142
<PER-SHARE-NAV-BEGIN>                                0
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                  0
<EXPENSE-RATIO>                                   0.44
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
KIEWIT INVESTMENT TRUST
</LEGEND>
<CIK> 0001034382
<NAME> KIEWIT TAX-EXEMPT SERIES
<SERIES>
   <NUMBER> 04
   <NAME> KIEWIT TAX-EXEMPT SERIES
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUN-30-1998
<PERIOD-END>                               DEC-31-1997
<INVESTMENTS-AT-COST>                          159,374
<INVESTMENTS-AT-VALUE>                         161,013
<RECEIVABLES>                                    2,198
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 163,211
<PAYABLE-FOR-SECURITIES>                         5,125
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          151
<TOTAL-LIABILITIES>                              5,276
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                             0
<SHARES-COMMON-STOCK>                                0
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                   157,935
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                3,270
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     319
<NET-INVESTMENT-INCOME>                          2,951
<REALIZED-GAINS-CURRENT>                           647
<APPREC-INCREASE-CURRENT>                        1,401
<NET-CHANGE-FROM-OPS>                            4,999
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                          19,534
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              289
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    376
<AVERAGE-NET-ASSETS>                           143,349
<PER-SHARE-NAV-BEGIN>                                0
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                  0
<EXPENSE-RATIO>                                   0.44
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
KIEWIT INVESTMENT TRUST
</LEGEND>
<CIK> 0001034382
<NAME> KIEWIT EQUITY SERIES
<SERIES>
   <NUMBER> 05
   <NAME> KIEWIT EQUITY SERIES
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUN-30-1998
<PERIOD-END>                               DEC-31-1997
<INVESTMENTS-AT-COST>                           93,641
<INVESTMENTS-AT-VALUE>                          98,322
<RECEIVABLES>                                      177
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   98499
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          159
<TOTAL-LIABILITIES>                                159
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                             0
<SHARES-COMMON-STOCK>                                0
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                    98,340
<DIVIDEND-INCOME>                                  660
<INTEREST-INCOME>                                  123
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     353
<NET-INVESTMENT-INCOME>                            430
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