<PAGE> PAGE 1
000 A000000 11/30/95
000 C000000 055627
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 SMALL COMPANY GROWTH FUND (S-4)
001 B000000 811-101
001 C000000 6173383200
002 A000000 200 BERKELEY STREET
002 B000000 BOSTON
002 C000000 MA
002 D010000 02116
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
020 A000001 NEWBRIDGE SECURITIES
020 C000001 218
020 A000002 MORGAN STANLEY AND CO.
020 C000002 80
020 A000003 DONALDSON, LUFKIN, & JENRETTE
020 C000003 77
020 A000004 BEAR, STERNS SECURITIES
020 C000004 76
020 A000005 MERRILL LYNCH PIERCE
020 C000005 72
020 A000006 JEFFERIES & CO.
020 C000006 71
020 A000007 PRUDENTIAL SECURITIES
020 C000007 37
020 A000008 SMITH BARNEY INC.
020 C000008 36
020 A000009 JANNEY MONTGOMERY, SCOTT
020 C000009 30
020 A000010 MONTGOMERY SECURITIES
020 C000010 27
021 000000 1053
022 A000001 GOLDMAN SACHS
022 C000001 2202463
022 D000001 11420
022 A000002 KEYSTONE JOINT REPO
022 C000002 1451363
022 D000002 0
022 A000003 PRUDENTIAL BACHE SECURITIES
022 C000003 0
<PAGE> PAGE 2
022 D000003 479328
022 A000004 SHEARSON LEHMAN BROS INC.
022 C000004 163569
022 D000004 0
022 A000005 LEHMAN BROS INC.
022 C000005 84879
022 D000005 8936
022 A000006 MERRILL LYNCH PIERCE FENNER
022 C000006 37620
022 D000006 25713
022 A000007 DONALDSON, LUFKIN & JENRETTE
022 C000007 45248
022 D000007 17807
022 A000008 MORGAN STANLEY AND CO., INC.
022 C000008 20690
022 D000008 32075
022 A000009 SANWA BANK
022 C000009 49157
022 D000009 0
022 A000010 BEAR STEARN SECURITIES CORP
022 C000010 33795
022 D000010 15281
023 C000000 4907978000
023 D000000 305413000
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<PAGE> PAGE 3
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<PAGE> PAGE 4
070 B010000 Y
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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SIGNATURE KEVIN J. 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>
<SERIES>
<NUMBER> 101
<NAME> SMALL COMPANY GROWTH FUND (S-4) CLASS A
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAY-31-1995
<PERIOD-START> JUN-01-1995
<PERIOD-END> NOV-30-1995
<INVESTMENTS-AT-COST> 1,309,950,302
<INVESTMENTS-AT-VALUE> 1,940,267,560
<RECEIVABLES> 32,535,962
<ASSETS-OTHER> 357,822
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,973,161,344
<PAYABLE-FOR-SECURITIES> 22,980,710
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 7,958,769
<TOTAL-LIABILITIES> 30,939,479
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,274,461,615
<SHARES-COMMON-STOCK> 205,062,404
<SHARES-COMMON-PRIOR> 169,274,066
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (3,627,360)
<ACCUMULATED-NET-GAINS> 41,070,374
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 630,317,236
<NET-ASSETS> 1,942,221,865
<DIVIDEND-INCOME> 1,632,086
<INTEREST-INCOME> 2,034,372
<OTHER-INCOME> 0
<EXPENSES-NET> (14,774,666)
<NET-INVESTMENT-INCOME> (11,108,208)
<REALIZED-GAINS-CURRENT> 155,410,254
<APPREC-INCREASE-CURRENT> 167,873,636
<NET-CHANGE-FROM-OPS> 312,175,682
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (173,761,257)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 74,267,969
<NUMBER-OF-SHARES-REDEEMED> (53,039,971)
<SHARES-REINVESTED> 14,560,340
<NET-CHANGE-IN-ASSETS> 482,267,007
<ACCUMULATED-NII-PRIOR> 7,480,848
<ACCUMULATED-GAINS-PRIOR> 59,421,377
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (3,968,026)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (14,774,666)
<AVERAGE-NET-ASSETS> 1,690,666,846
<PER-SHARE-NAV-BEGIN> 8.62
<PER-SHARE-NII> (0.06)
<PER-SHARE-GAIN-APPREC> 1.92
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (1.01)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 9.47
<EXPENSE-RATIO> 1.75
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
