<PAGE> PAGE 1
000 A000000 03/31/96
000 C000000 351934
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 SMITH BARNEY FUNDAMENTAL VALUE INC
001 B000000 811-3158
001 C000000 2128166550
002 A000000 388 GREENWICH STREET
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10013
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
013 A000001 KPMG PEAT MARWICK LLP
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10154
015 A000001 PNC BANK
015 B000001 C
015 C010001 PHILADELPHIA
015 C020001 PA
015 C030001 19103
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 127
019 C000000 BARNEY0000
020 A000001 SALOMON BROTHERS
020 B000001 N\A
020 C000001 135
020 A000002 MORGAN STANLEY
020 B000002 N\A
<PAGE> PAGE 2
020 C000002 120
020 A000003 MERRILL LYNCH
020 B000003 N\A
020 C000003 103
020 A000004 AUTRONET
020 B000004 N\A
020 C000004 58
020 A000005 SMITH BARNEY
020 B000005 N\A
020 C000005 57
020 A000006 GOLDMAN SACHS
020 B000006 N\A
020 C000006 45
020 A000007 ROBERTSON STEPHENS
020 B000007 N\A
020 C000007 45
020 A000008 SANFORD BERNSTEIN
020 B000008 N\A
020 C000008 33
020 A000009 INTERSTATE JOHNSON
020 B000009 N\A
020 C000009 32
020 A000010 MONTGOMERY SECURITIES
020 B000010 N\A
020 C000010 31
021 000000 882
022 A000001 MORGAN STANLEY
022 B000001 N/A
022 C000001 10652365
022 D000001 27304
022 A000002 CS FIRST BOSTON
022 B000002 N/A
022 C000002 9798354
022 D000002 0
022 A000003 GOLDMAN SACKS
022 B000003 N/A
022 C000003 9249469
022 D000003 3199
022 A000004 CITIBANK
022 B000004 N/A
022 C000004 1334943
022 D000004 0
022 A000005 FUJI SECURITIES
022 B000005 N/A
022 C000005 960000
022 D000005 0
022 A000006 CHASE MANAHATTAN
022 B000006 N/A
022 C000006 345040
022 D000006 0
022 A000007 CHEMICAL SECURITIES
<PAGE> PAGE 3
022 B000007 N/A
022 C000007 250025
022 D000007 0
022 A000008 MERRILL LYNCH
022 B000008 N/A
022 C000008 19446
022 D000008 3141
022 A000009 SOUNDVIER
022 B000009 N/A
022 C000009 13948
022 D000009 0
022 A000010 LEHMAN BROTHERS
022 B000010 N/A
022 C000010 11551
022 D000010 0
023 C000000 32648984
023 D000000 61732
027 000000 Y
028 A010000 24153
028 A020000 0
028 A030000 0
028 A040000 13744
028 B010000 26366
028 B020000 0
028 B030000 0
028 B040000 16795
028 C010000 24593
028 C020000 40145
028 C030000 0
028 C040000 13765
028 D010000 26875
028 D020000 17376
028 D030000 0
028 D040000 16851
028 E010000 27943
028 E020000 0
028 E030000 0
028 E040000 16023
028 F010000 31983
028 F020000 0
028 F030000 0
028 F040000 16261
028 G010000 161913
028 G020000 57521
028 G030000 0
028 G040000 93439
028 H000000 51983
029 000000 Y
030 A000000 535
030 B000000 5.00
030 C000000 5.00
<PAGE> PAGE 4
031 A000000 0
031 B000000 0
032 000000 0
033 000000 535
034 000000 Y
035 000000 415
036 A000000 N
036 B000000 0
037 000000 N
038 000000 0
039 000000 Y
040 000000 Y
041 000000 Y
042 A000000 0
042 B000000 0
042 C000000 0
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 3520
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.550
048 A010000 0
048 A020000 0.000
048 B010000 0
048 B020000 0.000
048 C010000 0
048 C020000 0.000
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 0
048 K020000 0.000
062 A000000 N
062 B000000 0.0
<PAGE> PAGE 5
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
066 A000000 Y
066 B000000 N
066 C000000 Y
066 D000000 N
066 E000000 N
066 F000000 N
066 G000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 Y
070 B010000 Y
070 B020000 Y
070 C010000 Y
070 C020000 N
070 D010000 Y
070 D020000 N
070 E010000 Y
070 E020000 N
070 F010000 Y
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 Y
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 N
070 K020000 N
070 L010000 Y
070 L020000 Y
<PAGE> PAGE 6
070 M010000 Y
070 M020000 Y
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 N
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 195686
071 B000000 233312
071 C000000 827609
071 D000000 24
072 A000000 6
072 B000000 5036
072 C000000 9245
072 D000000 0
072 E000000 0
072 F000000 2765
072 G000000 1005
072 H000000 0
072 I000000 583
072 J000000 36
072 K000000 0
072 L000000 250
072 M000000 18
072 N000000 75
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 57
072 S000000 0
072 T000000 3520
072 U000000 0
072 V000000 0
072 W000000 490
072 X000000 8799
072 Y000000 0
072 Z000000 5482
072AA000000 46081
072BB000000 0
072CC010000 47398
072CC020000 0
072DD010000 0
072DD020000 0
072EE000000 0
073 A010000 0.1300
073 A020000 0.0800
<PAGE> PAGE 7
073 B000000 0.3700
073 C000000 0.0000
074 A000000 0
074 B000000 233463
074 C000000 0
074 D000000 0
074 E000000 0
074 F000000 850454
074 G000000 0
074 H000000 0
074 I000000 105
074 J000000 29494
074 K000000 0
074 L000000 2488
074 M000000 1755
074 N000000 1117759
074 O000000 0
074 P000000 0
074 Q000000 0
074 R010000 2670
074 R020000 0
074 R030000 0
074 R040000 0
074 S000000 0
074 T000000 1115089
074 U010000 124240
074 U020000 0
074 V010000 8.98
074 V020000 8.97
074 W000000 0.0000
074 X000000 0
074 Y000000 0
075 A000000 0
075 B000000 1009725
076 000000 0.00
077 A000000 N
SIGNATURE THOMAS M. REYNOLDS
TITLE CONTROLLER
[ARTICLE] 6
[CIK] 0000351934
[NAME] SMITH BARNEY FUNDAMENTAL VALUE FUND INC - CLASS A
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] SEP-30-1996
[PERIOD-END] MAR-31-1996
[INVESTMENTS-AT-COST] 912,548,581
[INVESTMENTS-AT-VALUE] 1,083,917,194
[RECEIVABLES] 33,983,253
[ASSETS-OTHER] 20
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 1,117,900,467
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 2,811,137
[TOTAL-LIABILITIES] 2,811,137
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 910,351,610
[SHARES-COMMON-STOCK] 48,410,606
[SHARES-COMMON-PRIOR] 312,063,324
[ACCUMULATED-NII-CURRENT] 5,481,870
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 46,080,035
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 171,456,297
[NET-ASSETS] 1,115,089,330
[DIVIDEND-INCOME] 9,244,848
[INTEREST-INCOME] 5,035,750
[OTHER-INCOME] 0
[EXPENSES-NET] 8,798,728
[NET-INVESTMENT-INCOME] 5,481,870
[REALIZED-GAINS-CURRENT] 46,080,835
[APPREC-INCREASE-CURRENT] 47,398,159
[NET-CHANGE-FROM-OPS] 98,960,864
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 8,960,139
[DISTRIBUTIONS-OF-GAINS] 8,040,919
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 4,494,356
[NUMBER-OF-SHARES-REDEEMED] 3,592,211
[SHARES-REINVESTED] 2,934,418
[NET-CHANGE-IN-ASSETS] 168,220,230
[ACCUMULATED-NII-PRIOR] 4,539,178
[ACCUMULATED-GAINS-PRIOR] 29,644,168
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 2,764,961
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 8,798,728
[AVERAGE-NET-ASSETS] 434,917
[PER-SHARE-NAV-BEGIN] 8.66
[PER-SHARE-NII] 0.05
[PER-SHARE-GAIN-APPREC] 0.77
[PER-SHARE-DIVIDEND] 0.13
[PER-SHARE-DISTRIBUTIONS] 0.37
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 8.98
[EXPENSE-RATIO] 1.32
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000351934
[NAME] SMITH BARNEY FUNDAMENTAL VALUE FUND INC - CLASS B
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] SEP-30-1996
[PERIOD-END] MAR-31-1996
[INVESTMENTS-AT-COST] 912,548,581
[INVESTMENTS-AT-VALUE] 1,083,917,194
[RECEIVABLES] 33,983,253
[ASSETS-OTHER] 20
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 1,117,900,467
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 2,811,137
[TOTAL-LIABILITIES] 2,811,137
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 910,351,610
[SHARES-COMMON-STOCK] 71,183,407
[SHARES-COMMON-PRIOR] 442,110,367
[ACCUMULATED-NII-CURRENT] 5,481,870
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 46,080,035
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 171,456,297
[NET-ASSETS] 1,115,089,330
[DIVIDEND-INCOME] 9,244,848
[INTEREST-INCOME] 5,035,750
[OTHER-INCOME] 0
[EXPENSES-NET] 8,798,728
[NET-INVESTMENT-INCOME] 5,481,870
[REALIZED-GAINS-CURRENT] 46,080,835
[APPREC-INCREASE-CURRENT] 47,398,159
[NET-CHANGE-FROM-OPS] 98,960,864
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 8,665,974
[DISTRIBUTIONS-OF-GAINS] 11,553,060
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 11,238,643
[NUMBER-OF-SHARES-REDEEMED] 6,203,735
[SHARES-REINVESTED] 3,695,941
[NET-CHANGE-IN-ASSETS] 168,220,230
[ACCUMULATED-NII-PRIOR] 4,539,178
[ACCUMULATED-GAINS-PRIOR] 29,644,168
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 2,764,961
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 8,798,728
[AVERAGE-NET-ASSETS] 638,486
[PER-SHARE-NAV-BEGIN] 8.62
[PER-SHARE-NII] 0.03
[PER-SHARE-GAIN-APPREC] 0.77
[PER-SHARE-DIVIDEND] 0.08
[PER-SHARE-DISTRIBUTIONS] 0.37
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 8.98
[EXPENSE-RATIO] 2.06
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000351934
[NAME] SMITH BARNEY FUNDAMENTAL VALUE FUND INC - CLASS C
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] SEP-30-1996
[PERIOD-END] MAR-31-1996
[INVESTMENTS-AT-COST] 912,548,581
[INVESTMENTS-AT-VALUE] 1,083,917,194
[RECEIVABLES] 33,983,253
[ASSETS-OTHER] 20
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 1,117,900,467
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 2,811,137
[TOTAL-LIABILITIES] 2,811,137
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 910,351,610
[SHARES-COMMON-STOCK] 3,932,803
[SHARES-COMMON-PRIOR] 27,797,028
[ACCUMULATED-NII-CURRENT] 5,481,870
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 46,080,035
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 171,456,297
[NET-ASSETS] 1,115,089,330
[DIVIDEND-INCOME] 9,244,848
[INTEREST-INCOME] 5,035,750
[OTHER-INCOME] 0
[EXPENSES-NET] 8,798,728
[NET-INVESTMENT-INCOME] 5,481,870
[REALIZED-GAINS-CURRENT] 46,080,835
[APPREC-INCREASE-CURRENT] 47,398,159
[NET-CHANGE-FROM-OPS] 98,960,864
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 402,226
[DISTRIBUTIONS-OF-GAINS] 514,453
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 1,544,230
[NUMBER-OF-SHARES-REDEEMED] 309,476
[SHARES-REINVESTED] 168,804
[NET-CHANGE-IN-ASSETS] 168,220,230
[ACCUMULATED-NII-PRIOR] 4,539,178
[ACCUMULATED-GAINS-PRIOR] 29,644,168
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 2,764,961
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 8,798,728
[AVERAGE-NET-ASSETS] 35,278
[PER-SHARE-NAV-BEGIN] 8.62
[PER-SHARE-NII] 0.03
[PER-SHARE-GAIN-APPREC] 0.78
[PER-SHARE-DIVIDEND] 0.09
[PER-SHARE-DISTRIBUTIONS] 0.37
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 8.97
[EXPENSE-RATIO] 2.06
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000351934
[NAME] SMITH BARNEY FUNDAMENTAL VALUE FUND INC - CLASS Y
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] SEP-30-1996
[PERIOD-END] MAR-31-1996
[INVESTMENTS-AT-COST] 912,548,581
[INVESTMENTS-AT-VALUE] 1,083,917,194
[RECEIVABLES] 33,983,253
[ASSETS-OTHER] 20
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 1,117,900,467
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 2,811,137
[TOTAL-LIABILITIES] 2,811,137
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 910,351,610
[SHARES-COMMON-STOCK] 713,365
[SHARES-COMMON-PRIOR] 5,588,111
[ACCUMULATED-NII-CURRENT] 5,481,870
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 46,080,035
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 171,456,297
[NET-ASSETS] 1,115,089,330
[DIVIDEND-INCOME] 9,244,848
[INTEREST-INCOME] 5,035,750
[OTHER-INCOME] 0
[EXPENSES-NET] 8,798,728
[NET-INVESTMENT-INCOME] 5,481,870
[REALIZED-GAINS-CURRENT] 46,080,835
[APPREC-INCREASE-CURRENT] 47,398,159
[NET-CHANGE-FROM-OPS] 98,960,864
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 402,226
[DISTRIBUTIONS-OF-GAINS] 514,453
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 1,430,000
[NUMBER-OF-SHARES-REDEEMED] 716,635
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] 168,220,230
[ACCUMULATED-NII-PRIOR] 4,539,178
[ACCUMULATED-GAINS-PRIOR] 29,644,168
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 2,764,961
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 8,798,728
[AVERAGE-NET-ASSETS] 6,408
[PER-SHARE-NAV-BEGIN] 8.78
[PER-SHARE-NII] 0.06
[PER-SHARE-GAIN-APPREC] 0.14
[PER-SHARE-DIVIDEND] 0.00
[PER-SHARE-DISTRIBUTIONS] 0.00
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 8.98
[EXPENSE-RATIO] 1.05
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
