<PAGE> PAGE 1
000 A000000 04/30/96
000 C000000 000055619
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 KEYSTONE STRATEGIC GROWTH FUND (K-2)
001 B000000 811-97
001 C000000 6173383200
002 A000000 200 BERKELEY STREET
002 B000000 BOSTON
002 C000000 MA
002 D010000 02116
002 D020000 5034
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
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007 C010100 1
007 C010200 2
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007 C011000 10
008 A000001 KEYSTONE INVESTMENT MANAGEMENT COMPANY
008 B000001 A
008 C000001 801-8327
008 D010001 BOSTON
008 D020001 MA
008 D030001 02110
010 A000001 KEYSTONE INVESTMENTS INC.
010 C010001 BOSTON
010 C020001 MA
010 C030001 02116
010 C040001 5034
011 A000001 KEYSTONE INVESTMENT DISTRIBUTORS COMPANY INC
011 B000001 8-395
011 C010001 BOSTON
011 C020001 MA
011 C030001 02110
012 A000001 KEYSTONE INVESTOR RESOURCE CENTER
012 B000001 84-1571
<PAGE> PAGE 2
012 C010001 CAMBRIDGE
012 C020001 MA
012 C030001 02106
013 A000001 KPMG - PEAT MARWICK
013 B010001 BOSTON
013 B020001 MA
013 B030001 02109
015 A000001 STATE STREET BANK & TRUST
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02110
015 E010001 X
020 A000001 DONALD, LUFKIN & JENRETTE
020 B000001 13-2741729
020 C000001 105
020 A000002 MERRILL LYNCH PIERCE FERNER & SMITH
020 B000002 22-2347336
020 C000002 101
020 A000003 EXECUTIION SERVICES, INC.
020 C000003 90
020 A000004 NEWBRIDGE SECURITIES
020 B000004 13-3214963
020 C000004 81
020 A000005 INTERSTATE/JOHNSON LANE
020 C000005 61
020 A000006 ROBERTSON, STEPHEN & CLARK
020 C000006 60
020 A000007 BEAR STEARNS SECURITIES
020 B000007 13-3299429
020 C000007 59
020 A000008 PRUDENTIAL SECURITIES
020 B000008 22-2347336
020 C000008 58
020 A000009 BARING SECURITIES, NY
020 B000009 04-2455153
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020 A000010 BANK OF TOKYO TRUST, CO.
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022 A000003 PRUDENTIAL BACHE SECURITIES
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022 D000003 0
022 A000004 MERRILL LYNCH PIERCE FENNER & SMITH
<PAGE> PAGE 3
022 B000004 13-5674085
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022 D000004 25401
022 A000005 MORGAN STANLEY AND CO., INC
022 B000005 13-2655998
022 C000005 6192
022 D000005 19039
022 A000006 SHEARSON LEHMAN BROS.
022 C000006 16611
022 D000006 0
022 A000007 SMITH BARNEY, INC.
022 B000007 13-1912900
022 C000007 2189
022 D000007 10594
022 A000008 DONALDSON, LUFKIN & JENRETTE
022 B000008 13-2741729
022 C000008 1701
022 D000008 9522
022 A000009 PRUDENTIAL SECURITIES, INC.
022 B000009 22-2347336
022 C000009 5560
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022 A000010 REGIONAL OPERATIONS GROUP
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022 D000010 7807
023 C000000 3715719
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071 A000000 431062
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<PAGE> PAGE 4
074 T000000 506992
075 A000000 0
075 B000000 509463
077 A000000 Y
SIGNATURE J. KEVIN KENELY
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ACCOUNTING
RECORDS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH ACCOUNTING
RECORDS.
</LEGEND>
<SERIES>
<NUMBER> 101
<NAME> KEYSTONE STRATEGIC GROWTH FUND (K2) CLASS A
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-START> NOV-01-1995
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 455,266,000
<INVESTMENTS-AT-VALUE> 505,955,840
<RECEIVABLES> 3,877,128
<ASSETS-OTHER> 59,188
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 509,892,156
<PAYABLE-FOR-SECURITIES> 2,280,004
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 620,603
<TOTAL-LIABILITIES> 2,900,607
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 383,889,423
<SHARES-COMMON-STOCK> 61,430,350
<SHARES-COMMON-PRIOR> 61,095,706
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (2,176,502)
<ACCUMULATED-NET-GAINS> 74,875,175
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 50,403,453
<NET-ASSETS> 506,991,549
<DIVIDEND-INCOME> 2,763,261
<INTEREST-INCOME> 721,309
<OTHER-INCOME> 0
<EXPENSES-NET> (4,920,766)
<NET-INVESTMENT-INCOME> (1,436,196)
<REALIZED-GAINS-CURRENT> 70,149,722
<APPREC-INCREASE-CURRENT> (32,577,799)
<NET-CHANGE-FROM-OPS> 36,135,727
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,219,287)
<DISTRIBUTIONS-OF-GAINS> (21,340,195)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,689,579
<NUMBER-OF-SHARES-REDEEMED> (7,946,007)
<SHARES-REINVESTED> 2,591,072
<NET-CHANGE-IN-ASSETS> 15,381,731
<ACCUMULATED-NII-PRIOR> 478,981
<ACCUMULATED-GAINS-PRIOR> 26,065,648
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (1,512,402)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (4,920,766)
<AVERAGE-NET-ASSETS> 509,463,155
<PER-SHARE-NAV-BEGIN> 8.05
<PER-SHARE-NII> (0.02)
<PER-SHARE-GAIN-APPREC> 0.59
<PER-SHARE-DIVIDEND> (0.02)
<PER-SHARE-DISTRIBUTIONS> (0.35)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 8.25
<EXPENSE-RATIO> 1.95
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
