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020 A000001 FACTSET DATA SYSTEMS INC.
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020 A000003 SMITH BARNEY
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020 C000003 12
020 A000004 MERRILL LYNCH, RIERER FENNER & SMITH
020 B000004 135674085
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020 A000005 INSTINET CORP.
020 B000005 13-3443395
020 C000005 8
020 A000006 EXECUTION SERVICES, INC.
020 C000006 5
020 A000007 INTERSTATE/JOHNSON LANE CORP.
020 B000007 56-0276690
020 C000007 5
020 A000008 NATWEST SECURITIES CORP.
020 C000008 5
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<PAGE> PAGE 2
022 C000001 471097
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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
077 A000000 Y
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SIGNATURE KEVIN MORRISSEY
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>
<CIK> 0000055626
<NAME> KEYSTONE CUSTODIAN FUND, SERIES S-3
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1994
<PERIOD-START> SEP-01-1994
<PERIOD-END> FEB-28-1995
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<INVESTMENTS-AT-VALUE> 236727531
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<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 250254246
<PAYABLE-FOR-SECURITIES> 5907195
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 222763
<TOTAL-LIABILITIES> 6129958
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<PAID-IN-CAPITAL-COMMON> 205676011
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<DIVIDEND-INCOME> 1598285
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<OTHER-INCOME> 0
<EXPENSES-NET> (1535277)
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<REALIZED-GAINS-CURRENT> 16764324
<APPREC-INCREASE-CURRENT> (21186993)
<NET-CHANGE-FROM-OPS> (497304)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1567644)
<DISTRIBUTIONS-OF-GAINS> (20123630)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2379720
<NUMBER-OF-SHARES-REDEEMED> (2547969)
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<PER-SHARE-GAIN-APPREC> (0.19)
<PER-SHARE-DIVIDEND> (0.06)
<PER-SHARE-DISTRIBUTIONS> (0.77)
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<EXPENSE-RATIO> 1.30
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
