<PAGE> PAGE 1
000 A000000 06/30/95
000 C000000 0000815913
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 GRADISON CUSTODIAN TRUST
001 B000000 811-5198
001 C000000 5135795076
002 A000000 580 WALNUT STREET
002 B000000 CINCINNATI
002 C000000 OH
002 D010000 45202
002 D020000 3198
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 MCDONALD & COMPANY SECURITIES, INC
008 B000001 A
008 C000001 801-11037
008 D010001 CINCINNATI
008 D020001 OH
008 D030001 45202
008 D040001 3198
011 A000001 MCDONALD & COMPANY SECURITIES, INC
011 B000001 8-30177
011 C010001 CINCINNATI
011 C020001 OH
011 C030001 45202
011 C040001 3198
013 A000001 ARTHUR ANDERSEN LLP
013 B010001 CINCINNATI
013 B020001 OH
013 B030001 45202
014 A000001 MC DONALD & COMPANY SECURITIES, INC.
<PAGE> PAGE 2
014 B000001 8-30177
015 A000001 STAR BANK N.A.
015 B000001 C
015 C010001 CINCINNATI
015 C020001 OH
015 C030001 45202
015 E010001 X
015 A000002 BANKERS TRUST
015 B000002 S
015 C010002 NEW YORK
015 C020002 NY
015 C030002 10017
015 E010002 X
018 000000 Y
019 A000000 Y
019 B000000 8
019 C000000 GRADMUTFND
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 0
022 A000001 FIRST NATIONAL BANK OF CHICAGO
022 B000001 36-3595942
022 C000001 311695
022 D000001 2400
022 A000002 FUJI SECURITIES
022 B000002 36-2880742
022 C000002 135010
022 D000002 0
022 A000003 FIRST BOSTON
022 B000003 13-5659485
022 C000003 2887
022 D000003 13743
022 A000004 LEGG MASON
022 B000004 52-0902557
022 C000004 4731
022 D000004 8864
022 A000005 MABON NUGENT
022 B000005 13-3380760
022 C000005 0
022 D000005 4352
022 A000006 LA SALLE BANK
022 B000006 13-3227945
022 C000006 3856
<PAGE> PAGE 3
022 D000006 0
022 A000007 BANC ONE CORP.
022 B000007 31-1017233
022 C000007 2697
022 D000007 0
022 A000008 CIC
022 B000008 65-0250292
022 C000008 955
022 D000008 0
022 C000009 0
022 D000009 0
022 C000010 0
022 D000010 0
023 C000000 461832
023 D000000 29359
024 000000 N
025 D000001 0
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
028 A010000 2063
028 A020000 883
028 A030000 0
028 A040000 5656
028 B010000 3063
028 B020000 875
028 B030000 0
028 B040000 5765
028 C010000 2179
028 C020000 858
028 C030000 0
028 C040000 6780
028 D010000 2539
028 D020000 849
028 D030000 0
028 D040000 4825
028 E010000 2954
<PAGE> PAGE 4
028 E020000 843
028 E030000 0
028 E040000 4492
028 F010000 2205
028 F020000 828
028 F030000 0
028 F040000 5456
028 G010000 15003
028 G020000 5136
028 G030000 0
028 G040000 32974
028 H000000 5173
029 000000 Y
030 A000000 76
030 B000000 2.00
030 C000000 0.00
031 A000000 38
031 B000000 0
032 000000 0
033 000000 38
034 000000 N
035 000000 0
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
040 000000 Y
041 000000 Y
042 A000000 0
042 B000000 0
042 C000000 0
042 D000000 100
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 227
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.500
048 A010000 0
048 A020000 0.000
048 B010000 0
048 B020000 0.000
048 C010000 0
048 C020000 0.000
048 D010000 0
048 D020000 0.000
048 E010000 0
<PAGE> PAGE 5
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 0
048 K020000 0.000
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
054 A000000 N
054 B000000 N
054 C000000 N
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 N
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 N
054 M000000 Y
054 N000000 N
054 O000000 N
055 A000000 N
055 B000000 Y
056 000000 Y
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 1000
062 A000000 Y
062 B000000 0.0
062 C000000 0.0
062 D000000 0.9
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
<PAGE> PAGE 6
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 33.3
062 N000000 64.8
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 1.0
063 A000000 0
063 B000000 6.3
064 A000000 N
064 B000000 N
066 A000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 Y
070 B010000 N
070 B020000 N
070 C010000 Y
070 C020000 N
070 D010000 N
070 D020000 N
070 E010000 N
070 E020000 N
070 F010000 N
070 F020000 N
070 G010000 N
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 N
070 J020000 N
070 K010000 N
070 K020000 N
070 L010000 N
070 L020000 N
070 M010000 N
070 M020000 N
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 Y
070 P010000 N
070 P020000 N
070 Q010000 N
<PAGE> PAGE 7
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 15127
071 B000000 31572
071 C000000 180756
071 D000000 8
072 A000000 6
072 B000000 6742
072 C000000 0
072 D000000 0
072 E000000 0
072 F000000 461
072 G000000 0
072 H000000 0
072 I000000 77
072 J000000 10
072 K000000 13
072 L000000 3
072 M000000 14
072 N000000 12
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 14
072 S000000 4
072 T000000 227
072 U000000 0
072 V000000 0
072 W000000 33
072 X000000 868
072 Y000000 0
072 Z000000 5874
072AA000000 0
072BB000000 3078
072CC010000 16572
072CC020000 0
072DD010000 5874
072DD020000 0
072EE000000 0
073 A010000 0.3970
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0230
074 A000000 34
074 B000000 1700
074 C000000 0
074 D000000 180921
074 E000000 0
074 F000000 0
074 G000000 0
<PAGE> PAGE 8
074 H000000 0
074 I000000 0
074 J000000 0
074 K000000 0
074 L000000 2253
074 M000000 28
074 N000000 184936
074 O000000 0
074 P000000 134
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 425
074 S000000 0
074 T000000 184377
074 U010000 14281
074 U020000 0
074 V010000 12.91
074 V020000 0.00
074 W000000 0.0000
074 X000000 5758
074 Y000000 0
075 A000000 0
075 B000000 184109
076 000000 0.00
077 A000000 N
078 000000 N
080 A000000 AETNA CASUALTY INSURANCE
080 C000000 9300
081 A000000 Y
081 B000000 6
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
<PAGE> PAGE 9
086 F020000 0
049 000100 N
050 000100 N
051 000100 N
052 000100 N
053 A000100 Y
049 000200 Y
050 000200 N
051 000200 N
052 000200 N
053 A000200 Y
SIGNATURE RICHARD M. WACHTERMAN
TITLE SECRETARY
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 1
<NAME> GRADISON MCDONALD GOVERNMENT INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 185,125,139
<INVESTMENTS-AT-VALUE> 182,620,567
<RECEIVABLES> 2,253,781
<ASSETS-OTHER> 62,193
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 184,936,278
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 558,910
<TOTAL-LIABILITIES> 558,910
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 192,345,761
<SHARES-COMMON-STOCK> 14,281,219
<SHARES-COMMON-PRIOR> 15,313,286
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 208,567
<ACCUMULATED-NET-GAINS> (5,255,254)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (2,504,572)
<NET-ASSETS> 184,377,368
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 6,741,493
<OTHER-INCOME> 0
<EXPENSES-NET> 867,684
<NET-INVESTMENT-INCOME> 5,873,809
<REALIZED-GAINS-CURRENT> (3,078,162)
<APPREC-INCREASE-CURRENT> 16,571,570
<NET-CHANGE-FROM-OPS> 19,367,217
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 5,873,809
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 309,467
<NUMBER-OF-SHARES-SOLD> 1,201,011
<NUMBER-OF-SHARES-REDEEMED> 2,642,753
<SHARES-REINVESTED> 409,675
<NET-CHANGE-IN-ASSETS> 348,672
<ACCUMULATED-NII-PRIOR> (208,567)
<ACCUMULATED-GAINS-PRIOR> (2,177,092)
<OVERDISTRIB-NII-PRIOR> (208,567)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 461,534
<INTEREST-EXPENSE> 41,927
<GROSS-EXPENSE> 867,684
<AVERAGE-NET-ASSETS> 184,109,205
<PER-SHARE-NAV-BEGIN> 12.018
<PER-SHARE-NII> 0.397
<PER-SHARE-GAIN-APPREC> 0.915
<PER-SHARE-DIVIDEND> 0.397
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.023
<PER-SHARE-NAV-END> 12.910
<EXPENSE-RATIO> 0.009
<AVG-DEBT-OUTSTANDING> 1,339,841
<AVG-DEBT-PER-SHARE> 0.091
</TABLE>