<PAGE> PAGE 1
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<PAGE> PAGE 2
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<PAGE> PAGE 3
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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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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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074 D000400 0
074 E000400 0
074 F000400 836849
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 170
074 K000400 0
074 L000400 1856
074 M000400 0
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074 O000400 0
074 P000400 0
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074 R010400 0
074 R020400 0
074 R030400 1525
074 R040400 26606
074 S000400 0
074 T000400 968446
074 U010400 15823
074 U020400 49946
074 V010400 0.00
074 V020400 0.00
074 W000400 0.0000
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074 Y000400 0
075 A000400 0
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076 000400 0.00
028 A010500 49034
028 A020500 0
028 A030500 0
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028 B010500 34140
028 B020500 0
028 B030500 0
028 B040500 42101
028 C010500 29519
028 C020500 0
028 C030500 0
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028 D010500 48719
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028 D030500 0
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<PAGE> PAGE 22
028 F010500 57538
028 F020500 0
028 F030500 0
028 F040500 64555
028 G010500 277786
028 G020500 0
028 G030500 0
028 G040500 287978
028 H000500 189716
029 000500 Y
030 A000500 281
030 B000500 5.26
030 C000500 0.00
031 A000500 0
031 B000500 0
032 000500 0
033 000500 281
034 000500 Y
035 000500 714
036 A000500 Y
036 B000500 0
037 000500 N
038 000500 0
039 000500 Y
040 000500 Y
041 000500 Y
042 A000500 0
042 B000500 0
042 C000500 0
042 D000500 0
042 E000500 0
042 F000500 0
042 G000500 0
042 H000500 0
043 000500 1992
044 000500 0
045 000500 Y
046 000500 N
047 000500 Y
048 000500 0.550
048 A010500 0
048 A020500 0.000
048 B010500 0
048 B020500 0.000
048 C010500 0
048 C020500 0.000
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<PAGE> PAGE 23
048 F020500 0.000
048 G010500 0
048 G020500 0.000
048 H010500 0
048 H020500 0.000
048 I010500 0
048 I020500 0.000
048 J010500 0
048 J020500 0.000
048 K010500 0
048 K020500 0.000
049 000500 N
050 000500 N
051 000500 N
052 000500 N
053 A000500 N
062 A000500 N
062 B000500 0.0
062 C000500 0.0
062 D000500 0.0
062 E000500 0.0
062 F000500 0.0
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062 O000500 0.0
062 P000500 0.0
062 Q000500 0.0
062 R000500 0.0
063 A000500 0
063 B000500 0.0
066 A000500 Y
066 C000500 Y
067 000500 N
068 A000500 N
068 B000500 N
069 000500 N
070 A010500 Y
070 A020500 Y
070 B010500 N
070 B020500 N
070 C010500 N
070 C020500 N
070 D010500 N
070 D020500 N
070 E010500 N
<PAGE> PAGE 24
070 E020500 N
070 F010500 N
070 F020500 N
070 G010500 N
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 Y
070 J020500 N
070 K010500 N
070 K020500 N
070 L010500 Y
070 L020500 N
070 M010500 N
070 M020500 N
070 N010500 Y
070 N020500 Y
070 O010500 N
070 O020500 N
070 P010500 N
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 Y
070 R020500 N
071 A000500 293304
071 B000500 321574
071 C000500 626896
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072 A000500 6
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<PAGE> PAGE 25
072 U000500 0
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074 U010500 7600
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<PAGE> PAGE 26
SIGNATURE THOMAS M REYNOLDS
TITLE CONTROLLER
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC. CLASS A
[SERIES]
[NUMBER] 1
[NAME] INVESTMENT GRADE BOND
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1997
[PERIOD-END] JUN-30-1997
[INVESTMENTS-AT-COST] 453,385,406
[INVESTMENTS-AT-VALUE] 460,106,700
[RECEIVABLES] 9,332,051
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 469,438,751
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 2,573,548
[TOTAL-LIABILITIES] 2,573,548
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 453,304,745
[SHARES-COMMON-STOCK] 16,192,943
[SHARES-COMMON-PRIOR] 16,782,817
[ACCUMULATED-NII-CURRENT] 112,417
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 6,688,389
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 6,721,294
[NET-ASSETS] 466,865,203
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 18,090,749
[OTHER-INCOME] 0
[EXPENSES-NET] 2,938,180
[NET-INVESTMENT-INCOME] 15,152,569
[REALIZED-GAINS-CURRENT] (4,746,624)
[APPREC-INCREASE-CURRENT] 208,971
[NET-CHANGE-FROM-OPS] 10,614,916
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 6,571,461
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 768,593
[NUMBER-OF-SHARES-REDEEMED] 1,761,496
[SHARES-REINVESTED] 403,029
[NET-CHANGE-IN-ASSETS] 1,479,085
[ACCUMULATED-NII-PRIOR] 30,913,830
[ACCUMULATED-GAINS-PRIOR] 17,859,048
[OVERDISTRIB-NII-PRIOR] (7,345)
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 1,046,620
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 2,938,180
[AVERAGE-NET-ASSETS] 197,786,799
[PER-SHARE-NAV-BEGIN] 12.27
[PER-SHARE-NII] 00.41
[PER-SHARE-GAIN-APPREC] (0.11)
[PER-SHARE-DIVIDEND] 00.30
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 12.17
[EXPENSE-RATIO] 01.02
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC. CLASS B
[SERIES]
[NUMBER] 1
[NAME] INVESTMENT GRADE BOND
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1997
[PERIOD-END] JUN-30-1997
[INVESTMENTS-AT-COST] 453,385,406
[INVESTMENTS-AT-VALUE] 460,106,700
[RECEIVABLES] 9,332,051
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 469,438,751
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 2,573,548
[TOTAL-LIABILITIES] 2,573,548
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 453,304,745
[SHARES-COMMON-STOCK] 19,370,001
[SHARES-COMMON-PRIOR] 21,027,741
[ACCUMULATED-NII-CURRENT] 112,417
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 6,688,389
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 6,721,294
[NET-ASSETS] 466,865,203
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 18,090,749
[OTHER-INCOME] 0
[EXPENSES-NET] 2,938,180
[NET-INVESTMENT-INCOME] 15,152,569
[REALIZED-GAINS-CURRENT] (4,746,624)
[APPREC-INCREASE-CURRENT] 208,971
[NET-CHANGE-FROM-OPS] 10,614,916
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 7,451,925
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 1,083,568
[NUMBER-OF-SHARES-REDEEMED] 3,134,693
[SHARES-REINVESTED] 393,385
[NET-CHANGE-IN-ASSETS] 1,479,085
[ACCUMULATED-NII-PRIOR] 30,913,830
[ACCUMULATED-GAINS-PRIOR] 17,859,048
[OVERDISTRIB-NII-PRIOR] (7,345)
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 1,046,620
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 2,938,180
[AVERAGE-NET-ASSETS] 242,051,280
[PER-SHARE-NAV-BEGIN] 12.29
[PER-SHARE-NII] 00.38
[PER-SHARE-GAIN-APPREC] (0.12)
[PER-SHARE-DIVIDEND] 00.37
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 12.18
[EXPENSE-RATIO] 01.51
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC. CLASS C
[SERIES]
[NUMBER] 1
[NAME] INVESTMENT GRADE BOND
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1997
[PERIOD-END] JUN-30-1997
[INVESTMENTS-AT-COST] 453,385,406
[INVESTMENTS-AT-VALUE] 460,106,700
[RECEIVABLES] 9,332,051
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 469,438,751
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 2,573,548
[TOTAL-LIABILITIES] 2,573,548
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 453,304,745
[SHARES-COMMON-STOCK] 601,448
[SHARES-COMMON-PRIOR] 546,770
[ACCUMULATED-NII-CURRENT] 112,417
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 6,688,389
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 6,721,294
[NET-ASSETS] 466,865,203
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 18,090,749
[OTHER-INCOME] 0
[EXPENSES-NET] 2,938,180
[NET-INVESTMENT-INCOME] 15,152,569
[REALIZED-GAINS-CURRENT] (4,746,624)
[APPREC-INCREASE-CURRENT] 208,971
[NET-CHANGE-FROM-OPS] 10,614,916
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 216,224
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 104,813
[NUMBER-OF-SHARES-REDEEMED] 64,311
[SHARES-REINVESTED] 14,176
[NET-CHANGE-IN-ASSETS] 1,479,085
[ACCUMULATED-NII-PRIOR] 30,913,830
[ACCUMULATED-GAINS-PRIOR] 17,859,048
[OVERDISTRIB-NII-PRIOR] (7,345)
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 1,046,620
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 2,938,180
[AVERAGE-NET-ASSETS] 6,833,330
[PER-SHARE-NAV-BEGIN] 12.30
[PER-SHARE-NII] 00.37
[PER-SHARE-GAIN-APPREC] (0.11)
[PER-SHARE-DIVIDEND] 00.38
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 12.18
[EXPENSE-RATIO] 01.47
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC. CLASS Y
[SERIES]
[NUMBER] 1
[NAME] INVESTMENT GRADE BOND
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1997
[PERIOD-END] JUN-30-1997
[INVESTMENTS-AT-COST] 453,385,406
[INVESTMENTS-AT-VALUE] 460,106,700
[RECEIVABLES] 9,332,051
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 469,438,751
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 2,573,548
[TOTAL-LIABILITIES] 2,573,548
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 453,304,745
[SHARES-COMMON-STOCK] 2,193,327
[SHARES-COMMON-PRIOR] 1,479,476
[ACCUMULATED-NII-CURRENT] 112,417
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 6,688,389
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 6,721,294
[NET-ASSETS] 466,865,203
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 18,090,749
[OTHER-INCOME] 0
[EXPENSES-NET] 2,938,180
[NET-INVESTMENT-INCOME] 15,152,569
[REALIZED-GAINS-CURRENT] (4,746,624)
[APPREC-INCREASE-CURRENT] 208,971
[NET-CHANGE-FROM-OPS] 10,614,916
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 793,197
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 713,851
[NUMBER-OF-SHARES-REDEEMED] 0
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] 1,479,085
[ACCUMULATED-NII-PRIOR] 30,913,830
[ACCUMULATED-GAINS-PRIOR] 17,859,048
[OVERDISTRIB-NII-PRIOR] (7,345)
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 1,046,620
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 2,938,180
[AVERAGE-NET-ASSETS] 22,222,922
[PER-SHARE-NAV-BEGIN] 12.28
[PER-SHARE-NII] 00.42
[PER-SHARE-GAIN-APPREC] (0.11)
[PER-SHARE-DIVIDEND] 00.42
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 12.17
[EXPENSE-RATIO] 00.69
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
[NUMBER] 2
[NAME] GOVERNMENT SECURITIES PORTFOLIO. CLASS A
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1997
[PERIOD-END] JUN-30-1997
[INVESTMENTS-AT-COST] 695,762,371
[INVESTMENTS-AT-VALUE] 703,342,633
[RECEIVABLES] 5,961,871
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 709,304,504
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 176,825,000
[OTHER-ITEMS-LIABILITIES] 1,777,054
[TOTAL-LIABILITIES] 178,602,054
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 600,524,743
[SHARES-COMMON-STOCK] 38,798,824
[SHARES-COMMON-PRIOR] 41,615,632
[ACCUMULATED-NII-CURRENT] 347,335
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] (77,822,256)
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 7,652,628
[NET-ASSETS] 530,702,450
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 20,074,487
[OTHER-INCOME] 0
[EXPENSES-NET] 2,658,110
[NET-INVESTMENT-INCOME] 17,416,377
[REALIZED-GAINS-CURRENT] (8,871,751)
[APPREC-INCREASE-CURRENT] 9,100,359
[NET-CHANGE-FROM-OPS] 17,644,985
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 11,965,203
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 544,174
[NUMBER-OF-SHARES-REDEEMED] 4,221,699
[SHARES-REINVESTED] 860,177
[NET-CHANGE-IN-ASSETS] (20,864,208)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] (68,950,505)
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 930,991
[INTEREST-EXPENSE] 2,596,439
[GROSS-EXPENSE] 2,658,110
[AVERAGE-NET-ASSETS] 372,571,118
[PER-SHARE-NAV-BEGIN] 9.34
[PER-SHARE-NII] 0.31
[PER-SHARE-GAIN-APPREC] 0
[PER-SHARE-DIVIDEND] 0.30
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 9.35
[EXPENSE-RATIO] 0.92
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
[NUMBER] 2
[NAME] GOVERNMENT SECURITIES PORTFOLIO. CLASS B
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1997
[PERIOD-END] JUN-30-1997
[INVESTMENTS-AT-COST] 695,762,371
[INVESTMENTS-AT-VALUE] 703,342,633
[RECEIVABLES] 5,961,871
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 709,304,504
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 176,825,000
[OTHER-ITEMS-LIABILITIES] 1,777,054
[TOTAL-LIABILITIES] 178,602,054
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 600,524,743
[SHARES-COMMON-STOCK] 11,530,875
[SHARES-COMMON-PRIOR] 12,991,397
[ACCUMULATED-NII-CURRENT] 347,335
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] (77,822,256)
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 7,652,628
[NET-ASSETS] 530,702,450
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 20,074,487
[OTHER-INCOME] 0
[EXPENSES-NET] 2,658,110
[NET-INVESTMENT-INCOME] 17,416,377
[REALIZED-GAINS-CURRENT] (8,871,751)
[APPREC-INCREASE-CURRENT] 9,100,359
[NET-CHANGE-FROM-OPS] 17,644,985
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 3,391,677
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 548,905
[NUMBER-OF-SHARES-REDEEMED] 2,256,469
[SHARES-REINVESTED] 247,042
[NET-CHANGE-IN-ASSETS] (20,864,208)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] (68,950,505)
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 930,991
[INTEREST-EXPENSE] 2,596,439
[GROSS-EXPENSE] 2,658,110
[AVERAGE-NET-ASSETS] 113,920,842
[PER-SHARE-NAV-BEGIN] 9.38
[PER-SHARE-NII] 0.29
[PER-SHARE-GAIN-APPREC] 0
[PER-SHARE-DIVIDEND] 0.28
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 9.39
[EXPENSE-RATIO] 1.44
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
[NUMBER] 2
[NAME] GOVERNMENT SECURITIES PORTFOLIO. CLASS C
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1997
[PERIOD-END] JUN-30-1997
[INVESTMENTS-AT-COST] 695,762,371
[INVESTMENTS-AT-VALUE] 703,342,633
[RECEIVABLES] 5,961,871
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 709,304,504
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 176,825,000
[OTHER-ITEMS-LIABILITIES] 1,777,054
[TOTAL-LIABILITIES] 178,602,054
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 600,524,743
[SHARES-COMMON-STOCK] 168,541
[SHARES-COMMON-PRIOR] 153,878
[ACCUMULATED-NII-CURRENT] 347,335
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] (77,822,256)
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 7,652,628
[NET-ASSETS] 530,702,450
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 20,074,487
[OTHER-INCOME] 0
[EXPENSES-NET] 2,658,110
[NET-INVESTMENT-INCOME] 17,416,377
[REALIZED-GAINS-CURRENT] (8,871,751)
[APPREC-INCREASE-CURRENT] 9,100,359
[NET-CHANGE-FROM-OPS] 17,644,985
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 45,654
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 39,640
[NUMBER-OF-SHARES-REDEEMED] 27,981
[SHARES-REINVESTED] 3,004
[NET-CHANGE-IN-ASSETS] (20,864,208)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] (68,950,505)
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 930,991
[INTEREST-EXPENSE] 2,596,439
[GROSS-EXPENSE] 2,658,110
[AVERAGE-NET-ASSETS] 1,495,732
[PER-SHARE-NAV-BEGIN] 9.38
[PER-SHARE-NII] 0.29
[PER-SHARE-GAIN-APPREC] 0
[PER-SHARE-DIVIDEND] 0.28
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 9.39
[EXPENSE-RATIO] 1.31
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
[NUMBER] 2
[NAME] GOVERNMENT SECURITIES PORTFOLIO. CLASS Y
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1997
[PERIOD-END] JUN-30-1997
[INVESTMENTS-AT-COST] 695,762,371
[INVESTMENTS-AT-VALUE] 703,342,633
[RECEIVABLES] 5,961,871
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 709,304,504
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 176,825,000
[OTHER-ITEMS-LIABILITIES] 1,777,054
[TOTAL-LIABILITIES] 178,602,054
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 600,524,743
[SHARES-COMMON-STOCK] 6,211,740
[SHARES-COMMON-PRIOR] 4,245,386
[ACCUMULATED-NII-CURRENT] 347,335
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] (77,822,256)
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 7,652,628
[NET-ASSETS] 530,702,450
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 20,074,487
[OTHER-INCOME] 0
[EXPENSES-NET] 2,658,110
[NET-INVESTMENT-INCOME] 17,416,377
[REALIZED-GAINS-CURRENT] (8,871,751)
[APPREC-INCREASE-CURRENT] 9,100,359
[NET-CHANGE-FROM-OPS] 17,644,985
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 1,666,508
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 1,966,354
[NUMBER-OF-SHARES-REDEEMED] 0
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] (20,864,208)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] (68,950,505)
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 930,991
[INTEREST-EXPENSE] 2,596,439
[GROSS-EXPENSE] 2,658,110
[AVERAGE-NET-ASSETS] 48,299,379
[PER-SHARE-NAV-BEGIN] 9.34
[PER-SHARE-NII] 0.32
[PER-SHARE-GAIN-APPREC] 0.01
[PER-SHARE-DIVIDEND] 0.31
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 9.36
[EXPENSE-RATIO] 0.58
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
[NUMBER] 3
[NAME] GROWTH OPPORTUNITIES FUND. CLASS A
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1997
[PERIOD-END] JUN-30-1997
[INVESTMENTS-AT-COST] 118,316,750
[INVESTMENTS-AT-VALUE] 118,148,736
[RECEIVABLES] 125,411
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 852
[TOTAL-ASSETS] 118,274,999
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 341,248
[TOTAL-LIABILITIES] 341,248
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 106,620,148
[SHARES-COMMON-STOCK] 5,236,178
[SHARES-COMMON-PRIOR] 5,231,112
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (922,904)
[ACCUMULATED-NET-GAINS] 12,295,527
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] (59,020)
[NET-ASSETS] 117,933,751
[DIVIDEND-INCOME] 458,750
[INTEREST-INCOME] 642,502
[OTHER-INCOME] 0
[EXPENSES-NET] 1,108,626
[NET-INVESTMENT-INCOME] (7,374)
[REALIZED-GAINS-CURRENT] 8,250,689
[APPREC-INCREASE-CURRENT] (5,215,399)
[NET-CHANGE-FROM-OPS] 3,027,916
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 544,519
[NUMBER-OF-SHARES-REDEEMED] 545,819
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] 2,432,054
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 915,530
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 563,060
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 560,060
[AVERAGE-NET-ASSETS] 71,376,018
[PER-SHARE-NAV-BEGIN] 13.80
[PER-SHARE-NII] 00.02
[PER-SHARE-GAIN-APPREC] 00.36
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 14.18
[EXPENSE-RATIO] 01.69
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
[NUMBER] 3
[NAME] GROWTH OPPORTUNITIES FUND. CLASS B
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1997
[PERIOD-END] JUN-30-1997
[INVESTMENTS-AT-COST] 118,316,750
[INVESTMENTS-AT-VALUE] 118,148,736
[RECEIVABLES] 125,411
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 852
[TOTAL-ASSETS] 118,274,999
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 341,248
[TOTAL-LIABILITIES] 341,248
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 106,620,148
[SHARES-COMMON-STOCK] 3,093,317
[SHARES-COMMON-PRIOR] 3,140,115
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (922,904)
[ACCUMULATED-NET-GAINS] 12,295,527
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] (59,020)
[NET-ASSETS] 117,933,751
[DIVIDEND-INCOME] 458,750
[INTEREST-INCOME] 642,502
[OTHER-INCOME] 0
[EXPENSES-NET] 1,108,626
[NET-INVESTMENT-INCOME] (7,374)
[REALIZED-GAINS-CURRENT] 8,250,689
[APPREC-INCREASE-CURRENT] (5,215,399)
[NET-CHANGE-FROM-OPS] 3,027,916
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 257,478
[NUMBER-OF-SHARES-REDEEMED] 314,018
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] 2,432,054
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 915,530
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 563,060
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 560,060
[AVERAGE-NET-ASSETS] 42,015,048
[PER-SHARE-NAV-BEGIN] 13.74
[PER-SHARE-NII] 00.03
[PER-SHARE-GAIN-APPREC] 00.36
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 14.07
[EXPENSE-RATIO] 02.44
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
[NUMBER] 3
[NAME] GROWTH OPPORTUNITIES FUND. CLASS C
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1997
[PERIOD-END] JUN-30-1997
[INVESTMENTS-AT-COST] 118,316,750
[INVESTMENTS-AT-VALUE] 118,148,736
[RECEIVABLES] 125,411
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 852
[TOTAL-ASSETS] 118,274,999
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 341,248
[TOTAL-LIABILITIES] 341,248
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 106,620,148
[SHARES-COMMON-STOCK] 12,511
[SHARES-COMMON-PRIOR] 12,619
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (922,904)
[ACCUMULATED-NET-GAINS] 12,295,527
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] (59,020)
[NET-ASSETS] 117,933,751
[DIVIDEND-INCOME] 458,750
[INTEREST-INCOME] 642,502
[OTHER-INCOME] 0
[EXPENSES-NET] 1,108,626
[NET-INVESTMENT-INCOME] (7,374)
[REALIZED-GAINS-CURRENT] 8,250,689
[APPREC-INCREASE-CURRENT] (5,215,399)
[NET-CHANGE-FROM-OPS] 3,027,916
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 4,130
[NUMBER-OF-SHARES-REDEEMED] 4,231
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] 2,432,054
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 915,530
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 563,060
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 560,060
[AVERAGE-NET-ASSETS] 169,828
[PER-SHARE-NAV-BEGIN] 13.78
[PER-SHARE-NII] 00.04
[PER-SHARE-GAIN-APPREC] 00.37
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 14.11
[EXPENSE-RATIO] 02.44
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
[NUMBER] 4
[NAME] MANAGED GROWTH PORTFOLIO. CLASS A
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1997
[PERIOD-END] JUN-30-1997
[INVESTMENTS-AT-COST] 854,799,161
[INVESTMENTS-AT-VALUE] 968,906,109
[RECEIVABLES] 1,761,612
[ASSETS-OTHER] 265,037
[OTHER-ITEMS-ASSETS] 25,644,273
[TOTAL-ASSETS] 996,577,031
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 28,131,321
[TOTAL-LIABILITIES] 28,131,321
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 805,845,382
[SHARES-COMMON-STOCK] 15,822,874
[SHARES-COMMON-PRIOR] 16,317,182
[ACCUMULATED-NII-CURRENT] 585,467
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 48,177,192
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 133,837,669
[NET-ASSETS] 968,445,710
[DIVIDEND-INCOME] 4,811,987
[INTEREST-INCOME] 3,281,762
[OTHER-INCOME] 0
[EXPENSES-NET] 7,741,550
[NET-INVESTMENT-INCOME] 352,199
[REALIZED-GAINS-CURRENT] 51,877,468
[APPREC-INCREASE-CURRENT] 33,943,654
[NET-CHANGE-FROM-OPS] 86,173,321
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 1,167,174
[NUMBER-OF-SHARES-REDEEMED] 1,661,482
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] 108,710,718
[ACCUMULATED-NII-PRIOR] 233,268
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] (3,700,276)
[GROSS-ADVISORY-FEES] 3,788,849
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 7,741,550
[AVERAGE-NET-ASSETS] 222,713,723
[PER-SHARE-NAV-BEGIN] 13.42
[PER-SHARE-NII] 00.04
[PER-SHARE-GAIN-APPREC] 01.30
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 14.76
[EXPENSE-RATIO] 01.30
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
[NUMBER] 4
[NAME] MANAGED GROWTH PORTFOLIO. CLASS B
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1997
[PERIOD-END] JUN-30-1997
[INVESTMENTS-AT-COST] 854,799,161
[INVESTMENTS-AT-VALUE] 968,906,109
[RECEIVABLES] 1,761,612
[ASSETS-OTHER] 265,037
[OTHER-ITEMS-ASSETS] 25,644,273
[TOTAL-ASSETS] 996,577,031
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 28,131,321
[TOTAL-LIABILITIES] 28,131,321
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 805,845,382
[SHARES-COMMON-STOCK] 36,417,671
[SHARES-COMMON-PRIOR] 36,151,509
[ACCUMULATED-NII-CURRENT] 585,467
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 48,177,192
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 133,837,669
[NET-ASSETS] 968,445,710
[DIVIDEND-INCOME] 4,811,987
[INTEREST-INCOME] 3,281,762
[OTHER-INCOME] 0
[EXPENSES-NET] 7,741,550
[NET-INVESTMENT-INCOME] 352,199
[REALIZED-GAINS-CURRENT] 51,877,468
[APPREC-INCREASE-CURRENT] 33,943,654
[NET-CHANGE-FROM-OPS] 86,173,321
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 3,029,571
[NUMBER-OF-SHARES-REDEEMED] 2,763,409
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] 108,710,718
[ACCUMULATED-NII-PRIOR] 233,268
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] (3,700,276)
[GROSS-ADVISORY-FEES] 3,788,849
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 7,741,550
[AVERAGE-NET-ASSETS] 501,029,777
[PER-SHARE-NAV-BEGIN] 13.41
[PER-SHARE-NII] 00.02
[PER-SHARE-GAIN-APPREC] 01.30
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 14.69
[EXPENSE-RATIO] 02.06
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
[NUMBER] 4
[NAME] MANAGED GROWTH PORTFOLIO. CLASS C
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1997
[PERIOD-END] JUN-30-1997
[INVESTMENTS-AT-COST] 854,799,161
[INVESTMENTS-AT-VALUE] 968,906,109
[RECEIVABLES] 1,761,612
[ASSETS-OTHER] 265,037
[OTHER-ITEMS-ASSETS] 25,644,273
[TOTAL-ASSETS] 996,577,031
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 28,131,321
[TOTAL-LIABILITIES] 28,131,321
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 805,845,382
[SHARES-COMMON-STOCK] 5,141,550
[SHARES-COMMON-PRIOR] 5,096,079
[ACCUMULATED-NII-CURRENT] 585,467
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 48,177,192
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 133,837,669
[NET-ASSETS] 968,445,710
[DIVIDEND-INCOME] 4,811,987
[INTEREST-INCOME] 3,281,762
[OTHER-INCOME] 0
[EXPENSES-NET] 7,741,550
[NET-INVESTMENT-INCOME] 352,199
[REALIZED-GAINS-CURRENT] 51,877,468
[APPREC-INCREASE-CURRENT] 33,943,654
[NET-CHANGE-FROM-OPS] 86,173,321
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 542,769
[NUMBER-OF-SHARES-REDEEMED] 497,298
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] 108,710,718
[ACCUMULATED-NII-PRIOR] 233,268
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] (3,700,276)
[GROSS-ADVISORY-FEES] 3,788,849
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 7,741,550
[AVERAGE-NET-ASSETS] 70,743,786
[PER-SHARE-NAV-BEGIN] 13.41
[PER-SHARE-NII] 00.01
[PER-SHARE-GAIN-APPREC] 01.30
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 14.70
[EXPENSE-RATIO] 02.04
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
[NUMBER] 4
[NAME] MANAGED GROWTH PORTFOLIO. CLASS Y
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1997
[PERIOD-END] JUN-30-1997
[INVESTMENTS-AT-COST] 854,799,161
[INVESTMENTS-AT-VALUE] 968,906,109
[RECEIVABLES] 1,761,612
[ASSETS-OTHER] 265,037
[OTHER-ITEMS-ASSETS] 25,644,273
[TOTAL-ASSETS] 996,577,031
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 28,131,321
[TOTAL-LIABILITIES] 28,131,321
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 805,845,382
[SHARES-COMMON-STOCK] 6,526,271
[SHARES-COMMON-PRIOR] 4,876,088
[ACCUMULATED-NII-CURRENT] 585,467
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 48,177,192
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 133,837,669
[NET-ASSETS] 968,445,710
[DIVIDEND-INCOME] 4,811,987
[INTEREST-INCOME] 3,281,762
[OTHER-INCOME] 0
[EXPENSES-NET] 7,741,550
[NET-INVESTMENT-INCOME] 352,199
[REALIZED-GAINS-CURRENT] 51,877,468
[APPREC-INCREASE-CURRENT] 33,943,654
[NET-CHANGE-FROM-OPS] 86,173,321
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 1,650,183
[NUMBER-OF-SHARES-REDEEMED] 0
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] 108,710,718
[ACCUMULATED-NII-PRIOR] 233,268
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] (3,700,276)
[GROSS-ADVISORY-FEES] 3,788,849
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 7,741,550
[AVERAGE-NET-ASSETS] 79,190,980
[PER-SHARE-NAV-BEGIN] 13.43
[PER-SHARE-NII] 00.07
[PER-SHARE-GAIN-APPREC] 01.31
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 14.81
[EXPENSE-RATIO] 00.90
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
[NUMBER] 4
[NAME] MANAGED GROWTH PORTFOLIO. CLASS Z
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1997
[PERIOD-END] JUN-30-1997
[INVESTMENTS-AT-COST] 854,799,161
[INVESTMENTS-AT-VALUE] 968,906,109
[RECEIVABLES] 1,761,612
[ASSETS-OTHER] 265,037
[OTHER-ITEMS-ASSETS] 25,644,273
[TOTAL-ASSETS] 996,577,031
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 28,131,321
[TOTAL-LIABILITIES] 28,131,321
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 805,845,382
[SHARES-COMMON-STOCK] 1,860,594
[SHARES-COMMON-PRIOR] 1,660,003
[ACCUMULATED-NII-CURRENT] 585,467
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 48,177,192
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 133,837,669
[NET-ASSETS] 968,445,710
[DIVIDEND-INCOME] 4,811,987
[INTEREST-INCOME] 3,281,762
[OTHER-INCOME] 0
[EXPENSES-NET] 7,741,550
[NET-INVESTMENT-INCOME] 352,199
[REALIZED-GAINS-CURRENT] 51,877,468
[APPREC-INCREASE-CURRENT] 33,943,654
[NET-CHANGE-FROM-OPS] 86,173,321
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 287,160
[NUMBER-OF-SHARES-REDEEMED] 86,569
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] 108,710,718
[ACCUMULATED-NII-PRIOR] 233,268
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] (3,700,276)
[GROSS-ADVISORY-FEES] 3,788,849
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 7,741,550
[AVERAGE-NET-ASSETS] 25,033,929
[PER-SHARE-NAV-BEGIN] 13.43
[PER-SHARE-NII] 00.06
[PER-SHARE-GAIN-APPREC] 01.31
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 14.80
[EXPENSE-RATIO] 00.96
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
[NUMBER] 5
[NAME] SPECIAL EQUITIES FUND. CLASS A
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1997
[PERIOD-END] JUN-30-1997
[INVESTMENTS-AT-COST] 566,957,422
[INVESTMENTS-AT-VALUE] 687,052,007
[RECEIVABLES] 7,797,145
[ASSETS-OTHER] 30,775,063
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 725,624,215
[PAYABLE-FOR-SECURITIES] 911,200
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 31,369,086
[TOTAL-LIABILITIES] 32,280,286
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 632,927,280
[SHARES-COMMON-STOCK] 7,599,913
[SHARES-COMMON-PRIOR] 8,445,529
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 3,328,051
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] 56,349,885
[ACCUM-APPREC-OR-DEPREC] 120,094,582
[NET-ASSETS] 693,343,929
[DIVIDEND-INCOME] 1,697,294
[INTEREST-INCOME] 126,200
[OTHER-INCOME] 0
[EXPENSES-NET] 5,144,583
[NET-INVESTMENT-INCOME] 3,321,089
[REALIZED-GAINS-CURRENT] (46,158,973)
[APPREC-INCREASE-CURRENT] 20,329,052
[NET-CHANGE-FROM-OPS] (29,151,010)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 7,158,616
[NUMBER-OF-SHARES-REDEEMED] 8,004,232
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] (29,151,010)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 6,962
[OVERDIST-NET-GAINS-PRIOR] 10,190,912
[GROSS-ADVISORY-FEES] 1,883,667
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 5,144,583
[AVERAGE-NET-ASSETS] 214,543,464
[PER-SHARE-NAV-BEGIN] 28.11
[PER-SHARE-NII] 00.09
[PER-SHARE-GAIN-APPREC] (1.05)
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 26.97
[EXPENSE-RATIO] 01.20
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
[NUMBER] 5
[NAME] SPECIAL EQUITIES FUND. CLASS B
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1997
[PERIOD-END] JUN-30-1997
[INVESTMENTS-AT-COST] 566,957,422
[INVESTMENTS-AT-VALUE] 687,052,007
[RECEIVABLES] 7,797,145
[ASSETS-OTHER] 30,775,063
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 725,624,215
[PAYABLE-FOR-SECURITIES] 911,200
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 31,369,086
[TOTAL-LIABILITIES] 32,280,286
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 632,927,280
[SHARES-COMMON-STOCK] 11,954,817
[SHARES-COMMON-PRIOR] 13,277,959
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 3,328,051
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] 56,349,885
[ACCUM-APPREC-OR-DEPREC] 120,094,582
[NET-ASSETS] 693,343,929
[DIVIDEND-INCOME] 1,697,294
[INTEREST-INCOME] 126,200
[OTHER-INCOME] 0
[EXPENSES-NET] 5,144,583
[NET-INVESTMENT-INCOME] 3,321,089
[REALIZED-GAINS-CURRENT] (46,158,973)
[APPREC-INCREASE-CURRENT] 20,329,052
[NET-CHANGE-FROM-OPS] (29,151,010)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 1,289,826
[NUMBER-OF-SHARES-REDEEMED] 2,621,968
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] (29,151,010)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 6,962
[OVERDIST-NET-GAINS-PRIOR] 10,190,912
[GROSS-ADVISORY-FEES] 1,883,667
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 5,144,583
[AVERAGE-NET-ASSETS] 323,528,882
[PER-SHARE-NAV-BEGIN] 28.28
[PER-SHARE-NII] 00.19
[PER-SHARE-GAIN-APPREC] (1.02)
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 26.07
[EXPENSE-RATIO] 01.95
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
[NUMBER] 5
[NAME] SPECIAL EQUITIES FUND. CLASS C
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1997
[PERIOD-END] JUN-30-1997
[INVESTMENTS-AT-COST] 566,957,422
[INVESTMENTS-AT-VALUE] 687,052,007
[RECEIVABLES] 7,797,145
[ASSETS-OTHER] 30,775,063
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 725,624,215
[PAYABLE-FOR-SECURITIES] 911,200
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 31,369,086
[TOTAL-LIABILITIES] 32,280,286
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 632,927,280
[SHARES-COMMON-STOCK] 922,185
[SHARES-COMMON-PRIOR] 970,644
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 3,328,051
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] 56,349,885
[ACCUM-APPREC-OR-DEPREC] 120,094,582
[NET-ASSETS] 693,343,929
[DIVIDEND-INCOME] 1,697,294
[INTEREST-INCOME] 126,200
[OTHER-INCOME] 0
[EXPENSES-NET] 5,144,583
[NET-INVESTMENT-INCOME] 3,321,089
[REALIZED-GAINS-CURRENT] (46,158,973)
[APPREC-INCREASE-CURRENT] 20,329,052
[NET-CHANGE-FROM-OPS] (29,151,010)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 197,568
[NUMBER-OF-SHARES-REDEEMED] 246,027
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] (29,151,010)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 6,962
[OVERDIST-NET-GAINS-PRIOR] 10,190,912
[GROSS-ADVISORY-FEES] 1,883,667
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 5,144,583
[AVERAGE-NET-ASSETS] 24,298,828
[PER-SHARE-NAV-BEGIN] 27.28
[PER-SHARE-NII] 00.19
[PER-SHARE-GAIN-APPREC] (1.01)
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 26.08
[EXPENSE-RATIO] 01.96
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
[NUMBER] 5
[NAME] SPECIAL EQUITIES FUND. CLASS Y
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1997
[PERIOD-END] JUN-30-1997
[INVESTMENTS-AT-COST] 566,957,422
[INVESTMENTS-AT-VALUE] 687,052,007
[RECEIVABLES] 7,797,145
[ASSETS-OTHER] 30,775,063
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 725,624,215
[PAYABLE-FOR-SECURITIES] 911,200
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 31,369,086
[TOTAL-LIABILITIES] 32,280,286
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 632,927,280
[SHARES-COMMON-STOCK] 5,070,917
[SHARES-COMMON-PRIOR] 3,329,629
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 3,328,051
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] 56,349,885
[ACCUM-APPREC-OR-DEPREC] 120,094,582
[NET-ASSETS] 693,343,929
[DIVIDEND-INCOME] 1,697,294
[INTEREST-INCOME] 126,200
[OTHER-INCOME] 0
[EXPENSES-NET] 5,144,583
[NET-INVESTMENT-INCOME] 3,321,089
[REALIZED-GAINS-CURRENT] (46,158,973)
[APPREC-INCREASE-CURRENT] 20,329,052
[NET-CHANGE-FROM-OPS] (29,151,010)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 1,741,288
[NUMBER-OF-SHARES-REDEEMED] 0
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] (29,151,010)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 6,962
[OVERDIST-NET-GAINS-PRIOR] 10,190,912
[GROSS-ADVISORY-FEES] 1,883,667
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 5,144,583
[AVERAGE-NET-ASSETS] 114,575,727
[PER-SHARE-NAV-BEGIN] 28.21
[PER-SHARE-NII] 00.03
[PER-SHARE-GAIN-APPREC] (1.06)
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 27.12
[EXPENSE-RATIO] 00.81
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
[NUMBER] 5
[NAME] SPECIAL EQUITIES FUND. CLASS Z
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1997
[PERIOD-END] JUN-30-1997
[INVESTMENTS-AT-COST] 566,957,422
[INVESTMENTS-AT-VALUE] 687,052,007
[RECEIVABLES] 7,797,145
[ASSETS-OTHER] 30,775,063
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 725,624,215
[PAYABLE-FOR-SECURITIES] 911,200
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 31,369,086
[TOTAL-LIABILITIES] 32,280,286
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 632,927,280
[SHARES-COMMON-STOCK] 555,286
[SHARES-COMMON-PRIOR] 448,429
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 3,328,051
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] 56,349,885
[ACCUM-APPREC-OR-DEPREC] 120,094,582
[NET-ASSETS] 693,343,929
[DIVIDEND-INCOME] 1,697,294
[INTEREST-INCOME] 126,200
[OTHER-INCOME] 0
[EXPENSES-NET] 5,144,583
[NET-INVESTMENT-INCOME] 3,321,089
[REALIZED-GAINS-CURRENT] (46,158,973)
[APPREC-INCREASE-CURRENT] 20,329,052
[NET-CHANGE-FROM-OPS] (29,151,010)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 134,726
[NUMBER-OF-SHARES-REDEEMED] 27,869
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] (29,151,010)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 6,962
[OVERDIST-NET-GAINS-PRIOR] 10,190,912
[GROSS-ADVISORY-FEES] 1,883,667
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 5,144,583
[AVERAGE-NET-ASSETS] 13,479,841
[PER-SHARE-NAV-BEGIN] 28.26
[PER-SHARE-NII] 00.03
[PER-SHARE-GAIN-APPREC] (1.07)
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 27.16
[EXPENSE-RATIO] 00.82
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
SMITH BARNEY INVESTMENT FUNDS INC.
10f-3 REPORT
January 1, 1997 through May 31, 1997
% of
Trade Selling Purchase Fund % of
Issuer Date Dealer Shares Price
Assets Issue
Administaff 1/28/97 Morgan Stanley & Co. 20,000
$17.00 0.05% 0.83%
Metro Information Svs. 1/29/97 Robert Baird 20,000
16.00 0.04 0.65
Doncasters PLC 1/29/97 CS First Boston Corp. 25,000
16.50 0.05 0.46
Circuit City Stores Inc. 2/03/97 Morgan Stanley & Co.
30,000 20.00 0.08 0.23
Yuri Systems, Inc. 2/05/97 Alex Brown & Sons 5,500 12.00
0.01 0.14
Digital Lightwave 2/06/97 CS First Boston Corp. 15,000
12.00 0.02 0.38
US Rentals 2/21/97 Donaldson, Lufkin & Jenrette 100,000
20.00 0.27 1.00
General Cigar 2/28/97 Donaldson, Lufkin & Jenrette 80,000
18.00 0.20 1.33
Guitar Centers, Inc. 3/13/97 Goldman Sachs & Co. 100,000
15.00 0.21 1.48
Rambus Inc. 5/13/97 Morgan Stanley 10,000 12.00
0.02 0.41
Amazon Comm. Inc. 5/15/97 Deutsche Morgan Grenfell 20,000
18.00 0.05 1.04
RyanAir Holdings 5/29/97 Morgan Stanley 10,000 14.73
0.02 0.05
DBT Online 5/29/97 `Invemed Associates, In. 40,000
38.00 0.22 2.44
CS First Boston
