<ARTICLE> BD
<LEGEND>
This schedule contains summary financial information extracted from the
Statement of Financial Condition at February 28, 1995 (Unaudited) and the
Consolidated Statement of Operations for the three months ended February 28,
1995 (Unaudited) and is qualified in its entirety by reference to such financial
statements.
</LEGEND>
<CIK> 0000806085
<NAME> LEHMAN BROTHERS HOLDINGS INC.
<MULTIPLIER> 1,000,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          NOV-30-1995
<PERIOD-START>                             DEC-01-1994
<PERIOD-END>                               FEB-28-1995
<CASH>                                           2,540
<RECEIVABLES>                                   11,540
<SECURITIES-RESALE>                             42,047
<SECURITIES-BORROWED>                           19,609
<INSTRUMENTS-OWNED>                             50,122
<PP&E>                                             606
<TOTAL-ASSETS>                                 127,304
<SHORT-TERM>                                     9,655
<PAYABLES>                                      10,075
<REPOS-SOLD>                                    67,249
<SECURITIES-LOANED>                              5,314
<INSTRUMENTS-SOLD>                              18,049
<LONG-TERM>                                     11,177
<COMMON>                                            11
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                        708
<OTHER-SE>                                       2,707
<TOTAL-LIABILITY-AND-EQUITY>                   127,304
<TRADING-REVENUE>                                  359
<INTEREST-DIVIDENDS>                             2,501
<COMMISSIONS>                                      105
<INVESTMENT-BANKING-REVENUES>                      137
<FEE-REVENUE>                                        0
<INTEREST-EXPENSE>                               2,405
<COMPENSATION>                                     360
<INCOME-PRETAX>                                     70
<INCOME-PRE-EXTRAORDINARY>                          45
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                        45
<EPS-PRIMARY>                                     0.31
<EPS-DILUTED>                                     0.31