<PAGE> PAGE 1
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010 A000001 SBBC FUND MANAGEMENT FUND INC.
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<PAGE> PAGE 2
012 C020001 MA
012 C030001 02104
013 A000001 DELOITTE & TOUCHE LLP
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10048
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
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019 C000000 BARNEY0000
020 A000001 MERRILL LYNCH
020 B000001 13-5674085
020 C000001 300
020 A000002 MORGAN STANLEY
020 B000002 13-2655998
020 C000002 163
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020 B000003 N/A
020 C000003 109
020 A000004 CS FIRST BOSTON
020 B000004 13-5659485
020 C000004 104
020 A000005 LEHMEN BROTHERS
020 B000005 13-2518466
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020 B000006 13-5108880
020 C000006 84
020 A000007 DONALDSON, LUFKIN & JENRETTE
020 B000007 13-2741729
020 C000007 67
020 A000008 DEUTSCHE BANK
020 B000008 N/A
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020 A000010 WEEDEN & CO.
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<PAGE> PAGE 3
022 A000002 MERRILL LYNCH
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022 B000007 13-3299429
022 C000007 3834
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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080 A000000 ICI MUTUAL INSURANCE CO
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<PAGE> PAGE 9
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SIGNATURE PAUL BROOK
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-30-1999
[PERIOD-END] MAR-31-1999
[INVESTMENTS-AT-COST] 1,043,843,638
[INVESTMENTS-AT-VALUE] 1,614,005,106
[RECEIVABLES] 10,665,580
[ASSETS-OTHER] 217,151,283
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 1,841,821,969
[PAYABLE-FOR-SECURITIES] 11,430,776
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 227,736,133
[TOTAL-LIABILITIES] 239,166,909
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 974,971,165
[SHARES-COMMON-STOCK] 52,669,960
[SHARES-COMMON-PRIOR] 51,675,411
[ACCUMULATED-NII-CURRENT] 1,750,778
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 57,225,396
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 568,707,721
[NET-ASSETS] 1,602,655,060
[DIVIDEND-INCOME] 3,935,102
[INTEREST-INCOME] 8,150,713
[OTHER-INCOME] 0
[EXPENSES-NET] 11,799,272
[NET-INVESTMENT-INCOME] 286,543
[REALIZED-GAINS-CURRENT] 119,294,581
[APPREC-INCREASE-CURRENT] 230,812,998
[NET-CHANGE-FROM-OPS] 350,394,122
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 956,731
[DISTRIBUTIONS-OF-GAINS] 36,654,462
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 5,149,527
[NUMBER-OF-SHARES-REDEEMED] 7,608,701
[SHARES-REINVESTED] 3,453,723
[NET-CHANGE-IN-ASSETS] 245,871,033
[ACCUMULATED-NII-PRIOR] 3,061,641
[ACCUMULATED-GAINS-PRIOR] 32,571,601
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 4,128,942
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 11,799,272
[AVERAGE-NET-ASSETS] 584,379,587
[PER-SHARE-NAV-BEGIN] 10.07
[PER-SHARE-NII] 00.03
[PER-SHARE-GAIN-APPREC] 02.58
[PER-SHARE-DIVIDEND] 00.02
[PER-SHARE-DISTRIBUTIONS] 00.72
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 11.94
[EXPENSE-RATIO] 01.15
[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-30-1999
[PERIOD-END] MAR-31-1999
[INVESTMENTS-AT-COST] 1,043,843,638
[INVESTMENTS-AT-VALUE] 1,614,005,106
[RECEIVABLES] 10,665,580
[ASSETS-OTHER] 217,151,283
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 1,841,821,969
[PAYABLE-FOR-SECURITIES] 11,430,776
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 227,736,133
[TOTAL-LIABILITIES] 239,166,909
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 974,971,165
[SHARES-COMMON-STOCK] 69,343,727
[SHARES-COMMON-PRIOR] 71,551,792
[ACCUMULATED-NII-CURRENT] 1,750,778
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 57,225,396
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 568,707,721
[NET-ASSETS] 1,602,655,060
[DIVIDEND-INCOME] 3,935,102
[INTEREST-INCOME] 8,150,713
[OTHER-INCOME] 0
[EXPENSES-NET] 11,799,272
[NET-INVESTMENT-INCOME] 286,543
[REALIZED-GAINS-CURRENT] 119,294,581
[APPREC-INCREASE-CURRENT] 230,812,998
[NET-CHANGE-FROM-OPS] 350,394,122
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 49,619,714
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 2,260,441
[NUMBER-OF-SHARES-REDEEMED] 9,127,825
[SHARES-REINVESTED] 4,659,319
[NET-CHANGE-IN-ASSETS] 245,871,033
[ACCUMULATED-NII-PRIOR] 3,061,641
[ACCUMULATED-GAINS-PRIOR] 32,571,601
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 4,128,942
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 11,799,272
[AVERAGE-NET-ASSETS] 782,705,938
[PER-SHARE-NAV-BEGIN] 10.01
[PER-SHARE-NII] 00.02
[PER-SHARE-GAIN-APPREC] 02.57
[PER-SHARE-DIVIDEND] 00.00
[PER-SHARE-DISTRIBUTIONS] 00.72
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 11.84
[EXPENSE-RATIO] 01.92
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000351934
[NAME] SMITH BARNEY FUNDAMENTAL VALUE FUND INC. CLASS L
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] SEP-30-1999
[PERIOD-END] MAR-31-1999
[INVESTMENTS-AT-COST] 1,043,843,638
[INVESTMENTS-AT-VALUE] 1,614,005,106
[RECEIVABLES] 10,665,580
[ASSETS-OTHER] 217,151,283
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 1,841,821,969
[PAYABLE-FOR-SECURITIES] 11,430,776
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 227,736,133
[TOTAL-LIABILITIES] 239,166,909
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 974,971,165
[SHARES-COMMON-STOCK] 5,848,842
[SHARES-COMMON-PRIOR] 5,733,033
[ACCUMULATED-NII-CURRENT] 1,750,778
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 57,225,396
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 568,707,721
[NET-ASSETS] 1,602,655,060
[DIVIDEND-INCOME] 3,935,102
[INTEREST-INCOME] 8,150,713
[OTHER-INCOME] 0
[EXPENSES-NET] 11,799,272
[NET-INVESTMENT-INCOME] 286,543
[REALIZED-GAINS-CURRENT] 119,294,581
[APPREC-INCREASE-CURRENT] 230,812,998
[NET-CHANGE-FROM-OPS] 350,394,122
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 4,013,159
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 656,202
[NUMBER-OF-SHARES-REDEEMED] 915,212
[SHARES-REINVESTED] 374,819
[NET-CHANGE-IN-ASSETS] 245,871,033
[ACCUMULATED-NII-PRIOR] 3,061,641
[ACCUMULATED-GAINS-PRIOR] 32,571,601
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 4,128,942
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 11,799,272
[AVERAGE-NET-ASSETS] 63,842,557
[PER-SHARE-NAV-BEGIN] 10.01
[PER-SHARE-NII] 00.02
[PER-SHARE-GAIN-APPREC] 02.56
[PER-SHARE-DIVIDEND] 00.00
[PER-SHARE-DISTRIBUTIONS] 00.72
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 11.83
[EXPENSE-RATIO] 01.93
[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-30-1999
[PERIOD-END] MAR-31-1999
[INVESTMENTS-AT-COST] 1,043,843,638
[INVESTMENTS-AT-VALUE] 1,614,005,106
[RECEIVABLES] 10,665,580
[ASSETS-OTHER] 217,151,283
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 1,841,821,969
[PAYABLE-FOR-SECURITIES] 11,430,776
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 227,736,133
[TOTAL-LIABILITIES] 239,166,909
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 974,971,165
[SHARES-COMMON-STOCK] 6,981,141
[SHARES-COMMON-PRIOR] 6,191,519
[ACCUMULATED-NII-CURRENT] 1,750,778
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 57,225,396
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 568,707,721
[NET-ASSETS] 1,602,655,060
[DIVIDEND-INCOME] 3,935,102
[INTEREST-INCOME] 8,150,713
[OTHER-INCOME] 0
[EXPENSES-NET] 11,799,272
[NET-INVESTMENT-INCOME] 286,543
[REALIZED-GAINS-CURRENT] 119,294,581
[APPREC-INCREASE-CURRENT] 230,812,998
[NET-CHANGE-FROM-OPS] 350,394,122
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 376,265
[DISTRIBUTIONS-OF-GAINS] 4,617,859
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 789,622
[NUMBER-OF-SHARES-REDEEMED] 0
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] 245,871,033
[ACCUMULATED-NII-PRIOR] 3,061,641
[ACCUMULATED-GAINS-PRIOR] 32,571,601
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 4,128,942
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 11,799,272
[AVERAGE-NET-ASSETS] 73,935,027
[PER-SHARE-NAV-BEGIN] 10.10
[PER-SHARE-NII] 00.05
[PER-SHARE-GAIN-APPREC] 02.59
[PER-SHARE-DIVIDEND] 00.06
[PER-SHARE-DISTRIBUTIONS] 00.72
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 11.96
[EXPENSE-RATIO] 00.80
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
10f-3 REPORT
SMITH BARNEY FUNDAMENTAL VALUE FUND INC.
10f-3 REPORT
November 1, 1998 through January 31, 1999
Trade Shares Purchase
% of
Issuer Date Selling Dealer Purchased Price
Issue
The Money Group Inc. 11/10/98 Goldman, Sachs & Co. 52,100
$23.50
Donaldson, Lufkin & Jenrette 1,000 23.50
53,100 1.18%
Fox Entertainment Group 11/10/98 Merrill Lynch 289,400
22.50
Gerard Klauer Mattison & Co. 300 22.50
289,700
0.44
Banco Santander Puerto Rico 11/20/98 ABN AMRO Rothschild 18,800
21.50 15.38
Ticketmaster Online - 12/2/98 NationsBanc Montgomery Sec. 800
14.00 3.90
CitySearch
Nippon Telegraph & 12/14/98 Diawa Securities America Inc. 2,184
7,381.51 0.00
Telephone
InfoSpace.com 12/15/98 Hambrecht & Quist 3,800 15.00
0.25
Entercom Communications 1/28/99 CS First Boston 800
22.50 0.01