<ARTICLE> BD
<LEGEND>
This schedule contains summary financial information extracted from the
Consolidated Statement of Financial Condition at May 31, 1995 (Unaudited) and
the Consolidated Statement of Operations for the six months ended May 31, 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>                   6-MOS
<FISCAL-YEAR-END>                          NOV-30-1995
<PERIOD-START>                             DEC-01-1994
<PERIOD-END>                               MAY-31-1995
<CASH>                                           2,420
<RECEIVABLES>                                   10,974
<SECURITIES-RESALE>                             40,306
<SECURITIES-BORROWED>                           19,231
<INSTRUMENTS-OWNED>                             49,033
<PP&E>                                             582
<TOTAL-ASSETS>                                 123,421
<SHORT-TERM>                                     7,885
<PAYABLES>                                      10,470
<REPOS-SOLD>                                    65,607
<SECURITIES-LOANED>                              4,925
<INSTRUMENTS-SOLD>                              15,638
<LONG-TERM>                                     12,782
<COMMON>                                            11
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                        708
<OTHER-SE>                                       2,756
<TOTAL-LIABILITY-AND-EQUITY>                   123,421
<TRADING-REVENUE>                                  714
<INTEREST-DIVIDENDS>                             5,156
<COMMISSIONS>                                      226
<INVESTMENT-BANKING-REVENUES>                      289
<FEE-REVENUE>                                        0
<INTEREST-EXPENSE>                               4,972
<COMPENSATION>                                     730
<INCOME-PRETAX>                                    160
<INCOME-PRE-EXTRAORDINARY>                         103
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                       103
<EPS-PRIMARY>                                     0.74
<EPS-DILUTED>                                     0.74