LM INSTITUTIONAL FUND ADVISORS II INC
NSAR-A, 1998-11-25
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<PAGE>      PAGE  1
000 A000000 09/30/98
000 C000000 0001052864
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 LM INSTITUTIONAL FUND ADVISORS II, INC.
001 B000000 811-8611
001 C000000 4105390000
002 A000000 100 LIGHT STREET
002 B000000 BALTIMORE
002 C000000 MD
002 D010000 21202
003  000000 Y
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  2
007 C010100  1
007 C020100 BRANDYWINE SMALL CAP VALUE PORFOLIO
007 C030100 N
007 C010200  2
007 C020200 LM VALUE INSTITUTIONAL PORTFOLIO
007 C030200 N
007 C010300  3
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
010 A00AA01 LM INSTITUTIONAL ADVISORS, INC.
010 B00AA01 801-55354
010 C01AA01 BALTIMORE
010 C02AA01 MD
010 C03AA01 21202
011 A00AA01 LEGG MASON WOOD WALKER, INCORPORATED
011 B00AA01 8-01-6767
011 C01AA01 BALTIMORE
011 C02AA01 MD
011 C03AA01 21202
012 A00AA01 BOSTON FINANCIAL DATA SERVICES
012 B00AA01 84-00896
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02105
<PAGE>      PAGE  2
013 A00AA01 ERNST & YOUNG LLP
013 B01AA01 PHILADELPHIA
013 B02AA01 PA
013 B03AA01 19103
014 A00AA01 LEGG MASON WOOD WALKER, INCORPORATED
014 B00AA01 8-01-6767
015 A00AA01 STATE STREET BANK & TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02105
015 E01AA01 X
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019 A00AA00 Y
019 B00AA00   17
019 C00AA00 LMINSTITUT
020 A000001 INSTINET CORPORATION
020 B000001 13-3443395
020 C000001      3
020 A000002 BEAR, STERNS & CO., INC.
020 B000002 13-3299429
020 C000002      2
020 A000003 JANNEY MONTGOMERY, SCOTT INC.
020 B000003 23-0731260
020 C000003      1
020 A000004 JONES & ASSOCIATES, INC.
020 B000004 95-3583143
020 C000004      1
020 A000005 CAPITAL INSTITUTIONAL SERVICES, INC.
020 B000005 75-1565705
020 C000005      1
020 A000006 LYNCH, JONES & RYAN, INC.
020 B000006 13-3356934
020 C000006      0
020 A000007 JEFFERIES & COMPANY, INC.
020 B000007 95-2622900
020 C000007      0
020 A000008 ALPHA MANAGEMENT INC.
020 B000008 94-3105302
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020 A000009 WILLIAMS CAPITAL GROUP, L.P.
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022 C000001      8538
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008 A000101 BRANDYWINE ASSET MANAGEMENT, INC.
008 B000101 A
008 C000101 801-27797
008 D010101 WILMINGTON
008 D020101 DE
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<PAGE>      PAGE  7
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008 A000201 LEGG MASON FUND ADVISER, INC.
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<PAGE>      PAGE  11
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SIGNATURE   KATHI D. BAIR                                
TITLE       OFFICER             
 


<TABLE> <S> <C>

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<CIK> 0001052864
<NAME> LM INSTITUTIONAL FUND ADVISORS II, INC.
<SERIES>
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   <NAME> BRANDYWINE SMALL CAP VALUE PORTFOLIO
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<TABLE> <S> <C>

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<CIK> 0001052864
<NAME> LM INSTITUTIONAL FUND ADVISORS II, INC.
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   <NAME> LM VALUE INSTITUTIONAL PORTFOLIO
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</TABLE>


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