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<PAGE> PAGE 2
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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 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 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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SIGNATURE KENNETH D. GASKINS, ESQ.
TITLE SECRETARY
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE KIEWIT
MUTUAL FUND SEMIANNUAL REPORT FOR THE MONEY MARKET PORTFOLIO DATED DECEMBER 31,
1995 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO THE SEMIANNUAL REPORT
DATED DECEMBER 31, 1995.
</LEGEND>
<CIK> 0000927413
<NAME> KIEWIT MUTUAL FUND
<SERIES>
<NUMBER> 1
<NAME> MONEY MARKET PORTFOLIO
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1996
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<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE KIEWIT
MUTUAL FUND SEMIANNUAL REPORT FOR THE SHORT-TERM GOVERNMENT PORTFOLIO DATED
DECEMBER 31, 1995 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO THE
SEMIANNUAL REPORT DATED DECEMBER 31, 1995.
</LEGEND>
<CIK> 0000927413
<NAME> KIEWIT MUTUAL FUND
<SERIES>
<NUMBER> 2
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<MULTIPLIER> 1000
<S> <C>
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<FISCAL-YEAR-END> JUN-30-1996
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE KIEWIT
MUTUAL FUND SEMIANNUAL REPORT FOR THE INTERMEDIATE-TERM BOND PORTFOLIO DATED
DECEMBER 31, 1995 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO THE
SEMIANNUAL REPORT DATED DECEMBER 31, 1995.
</LEGEND>
<CIK> 0000927413
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<SERIES>
<NUMBER> 3
<NAME> INTERMEDIATE-TERM BOND PORTFOLIO
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE KIEWIT
MUTUAL FUND SEMIANNUAL REPORT FOR THE TAX-EXEMPT PORTFOLIO DATED DECEMBER 31,
1995 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO THE SEMIANNUAL REPORT
DATED DECEMBER 31, 1995.
</LEGEND>
<CIK> 0000927413
<NAME> KIEIWT MUTUAL FUND
<SERIES>
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<NAME> TAX-EXEMPT PORTFOLIO
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<S> <C>
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE KIEWIT
MUTUAL FUND SEMIANNUAL REPORT FOR THE EQUITY PORTFOLIO DATED DECEMBER 31, 1995
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO THE SEMIANNUAL REPORT DATED
DECEMBER 31, 1995.
</LEGEND>
<CIK> 0000927413
<NAME> KIEWIT MUTUAL FUND
<SERIES>
<NUMBER> 5
<NAME> EQUTIY PORTFOLIO
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<REALIZED-GAINS-CURRENT> 4
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</TABLE>
