<ARTICLE> BD
<LEGEND>
           LEHMAN BROTHERS HOLDINGS INC. and SUBSIDIARIES

This schedule contains summary financial information extracted from the
Statement of Financial Condition at August 31, 1995 (Unaudited) and the
Consolidated Statement of Operations for the nine months ended August 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>                   9-MOS
<FISCAL-YEAR-END>                          NOV-30-1995
<PERIOD-START>                             DEC-01-1994
<PERIOD-END>                               AUG-31-1995
<CASH>                                           2,867
<RECEIVABLES>                                    9,724
<SECURITIES-RESALE>                             37,173
<SECURITIES-BORROWED>                           18,178
<INSTRUMENTS-OWNED>                             48,175
<PP&E>                                             558
<TOTAL-ASSETS>                                 117,518
<SHORT-TERM>                                     5,742
<PAYABLES>                                      10,803
<REPOS-SOLD>                                    57,887
<SECURITIES-LOANED>                              3,425
<INSTRUMENTS-SOLD>                              20,444
<LONG-TERM>                                     12,897
<COMMON>                                            11
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                        708
<OTHER-SE>                                       2,912
<TOTAL-LIABILITY-AND-EQUITY>                   117,518
<TRADING-REVENUE>                                  959
<INTEREST-DIVIDENDS>                             7,986
<COMMISSIONS>                                      342
<INVESTMENT-BANKING-REVENUES>                      540
<FEE-REVENUE>                                        0
<INTEREST-EXPENSE>                               7,675
<COMPENSATION>                                   1,111
<INCOME-PRETAX>                                    269
<INCOME-PRE-EXTRAORDINARY>                         174
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                       174
<EPS-PRIMARY>                                    $1.27
<EPS-DILUTED>                                    $1.27