<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 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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<PAGE> PAGE 22
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<PAGE> PAGE 23
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050 000500 N
051 000500 N
052 000500 N
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<PAGE> PAGE 24
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070 A020500 Y
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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SIGNATURE THOMAS M REYNOLDS
TITLE CONTROLLER
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
[NUMBER] 1
[NAME] INVESTMENT GRADE BOND FUND, CLASS A
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1998
[PERIOD-END] JUN-30-1998
[INVESTMENTS-AT-COST] 534,093,674
[INVESTMENTS-AT-VALUE] 587,463,816
[RECEIVABLES] 11,033,913
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 598,467,729
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 6,708,641
[TOTAL-LIABILITIES] 6,708,641
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 521,996,807
[SHARES-COMMON-STOCK] 17,756,635
[SHARES-COMMON-PRIOR] 16,800,093
[ACCUMULATED-NII-CURRENT] (694,919)
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 17,187,058
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 53,370,142
[NET-ASSETS] 591,759,088
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 19,146,337
[OTHER-INCOME] 0
[EXPENSES-NET] 3,442,033
[NET-INVESTMENT-INCOME] 15,704,304
[REALIZED-GAINS-CURRENT] 17,085,593
[APPREC-INCREASE-CURRENT] 342,109
[NET-CHANGE-FROM-OPS] 33,132,006
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 6,770,738
[DISTRIBUTIONS-OF-GAINS] 24,847
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 2,619,354
[NUMBER-OF-SHARES-REDEEMED] 2,044,149
[SHARES-REINVESTED] 381,337
[NET-CHANGE-IN-ASSETS] 41,505,563
[ACCUMULATED-NII-PRIOR] (14,263)
[ACCUMULATED-GAINS-PRIOR] 62,342
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 1,816,328
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 3,442,033
[AVERAGE-NET-ASSETS] 231,712,442
[PER-SHARE-NAV-BEGIN] 13.19
[PER-SHARE-NII] 00.38
[PER-SHARE-GAIN-APPREC] 00.40
[PER-SHARE-DIVIDEND] 00.39
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 13.58
[EXPENSE-RATIO] 01.05
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
[NUMBER] 1
[NAME] INVESTMENT GRADE BOND FUND, CLASS B
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1998
[PERIOD-END] JUN-30-1998
[INVESTMENTS-AT-COST] 534,093,674
[INVESTMENTS-AT-VALUE] 587,463,816
[RECEIVABLES] 11,033,913
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 598,467,729
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 6,708,641
[TOTAL-LIABILITIES] 6,708,641
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 521,996,807
[SHARES-COMMON-STOCK] 18,505,428
[SHARES-COMMON-PRIOR] 18,898,019
[ACCUMULATED-NII-CURRENT] (694,919)
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 17,187,058
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 53,370,142
[NET-ASSETS] 591,759,088
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 19,146,337
[OTHER-INCOME] 0
[EXPENSES-NET] 3,442,033
[NET-INVESTMENT-INCOME] 15,704,304
[REALIZED-GAINS-CURRENT] 17,085,593
[APPREC-INCREASE-CURRENT] 342,109
[NET-CHANGE-FROM-OPS] 33,132,006
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 6,841,163
[DISTRIBUTIONS-OF-GAINS] 25,807
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 2,077,327
[NUMBER-OF-SHARES-REDEEMED] 2,799,329
[SHARES-REINVESTED] 329,411
[NET-CHANGE-IN-ASSETS] 41,505,563
[ACCUMULATED-NII-PRIOR] (14,263)
[ACCUMULATED-GAINS-PRIOR] 62,342
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 1,816,328
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 3,442,033
[AVERAGE-NET-ASSETS] 248,117,546
[PER-SHARE-NAV-BEGIN] 13.19
[PER-SHARE-NII] 00.34
[PER-SHARE-GAIN-APPREC] 00.41
[PER-SHARE-DIVIDEND] 00.37
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 13.57
[EXPENSE-RATIO] 01.51
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
[NUMBER] 1
[NAME] INVESTMENT GRADE BOND FUND, CLASS L
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1998
[PERIOD-END] JUN-30-1998
[INVESTMENTS-AT-COST] 534,093,674
[INVESTMENTS-AT-VALUE] 587,463,816
[RECEIVABLES] 11,033,913
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 598,467,729
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 6,708,641
[TOTAL-LIABILITIES] 6,708,641
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 521,996,807
[SHARES-COMMON-STOCK] 869,568
[SHARES-COMMON-PRIOR] 772,323
[ACCUMULATED-NII-CURRENT] (694,919)
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 17,187,058
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 53,370,142
[NET-ASSETS] 591,759,088
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 19,146,337
[OTHER-INCOME] 0
[EXPENSES-NET] 3,442,033
[NET-INVESTMENT-INCOME] 15,704,304
[REALIZED-GAINS-CURRENT] 17,085,593
[APPREC-INCREASE-CURRENT] 342,109
[NET-CHANGE-FROM-OPS] 33,132,006
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 299,814
[DISTRIBUTIONS-OF-GAINS] 1,198
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 299,142
[NUMBER-OF-SHARES-REDEEMED] 218,357
[SHARES-REINVESTED] 16,460
[NET-CHANGE-IN-ASSETS] 41,505,563
[ACCUMULATED-NII-PRIOR] (14,263)
[ACCUMULATED-GAINS-PRIOR] 62,342
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 1,816,328
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 3,442,033
[AVERAGE-NET-ASSETS] 10,576,045
[PER-SHARE-NAV-BEGIN] 13.18
[PER-SHARE-NII] 00.35
[PER-SHARE-GAIN-APPREC] 00.41
[PER-SHARE-DIVIDEND] 00.38
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 13.56
[EXPENSE-RATIO] 01.53
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
[NUMBER] 1
[NAME] INVESTMENT GRADE BOND FUND, CLASS Y
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1998
[PERIOD-END] JUN-30-1998
[INVESTMENTS-AT-COST] 534,093,674
[INVESTMENTS-AT-VALUE] 587,463,816
[RECEIVABLES] 11,033,913
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 598,467,729
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 6,708,641
[TOTAL-LIABILITIES] 6,708,641
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 521,996,807
[SHARES-COMMON-STOCK] 6,463,243
[SHARES-COMMON-PRIOR] 5,255,919
[ACCUMULATED-NII-CURRENT] (694,919)
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 17,187,058
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 53,370,142
[NET-ASSETS] 591,759,088
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 19,146,337
[OTHER-INCOME] 0
[EXPENSES-NET] 3,442,033
[NET-INVESTMENT-INCOME] 15,704,304
[REALIZED-GAINS-CURRENT] 17,085,593
[APPREC-INCREASE-CURRENT] 342,109
[NET-CHANGE-FROM-OPS] 33,132,006
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 2,473,245
[DISTRIBUTIONS-OF-GAINS] 9,025
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 1,207,324
[NUMBER-OF-SHARES-REDEEMED] 0
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] 41,505,563
[ACCUMULATED-NII-PRIOR] (14,263)
[ACCUMULATED-GAINS-PRIOR] 62,342
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 1,816,328
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 3,442,033
[AVERAGE-NET-ASSETS] 78,617,707
[PER-SHARE-NAV-BEGIN] 13.19
[PER-SHARE-NII] 00.40
[PER-SHARE-GAIN-APPREC] 00.40
[PER-SHARE-DIVIDEND] 00.41
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 13.58
[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] SMITH BARNEY GOVERNMENT SECURITIES FUND, CLASS A
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1998
[PERIOD-END] JUN-30-1998
[INVESTMENTS-AT-COST] 587,297,210
[INVESTMENTS-AT-VALUE] 596,660,344
[RECEIVABLES] 4,448,832
[ASSETS-OTHER] 157
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 601,109,333
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 434,549
[TOTAL-LIABILITIES] 434,549
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 644,704,392
[SHARES-COMMON-STOCK] 35,708,666
[SHARES-COMMON-PRIOR] 37,021,826
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (1,681,566)
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] (51,711,176)
[ACCUM-APPREC-OR-DEPREC] 9,363,134
[NET-ASSETS] 600,674,784
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 18,651,926
[OTHER-INCOME] 0
[EXPENSES-NET] 2,658,398
[NET-INVESTMENT-INCOME] 15,498,589
[REALIZED-GAINS-CURRENT] 4,103,071
[APPREC-INCREASE-CURRENT] 1,454,031
[NET-CHANGE-FROM-OPS] 19,147,629
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 10,372,963
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 1,470,636
[NUMBER-OF-SHARES-REDEEMED] 3,489,450
[SHARES-REINVESTED] 705,654
[NET-CHANGE-IN-ASSETS] 26,058,231
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] (15,649)
[OVERDIST-NET-GAINS-PRIOR] (55,814,247)
[GROSS-ADVISORY-FEES] 1,013,845
[INTEREST-EXPENSE] 494,939
[GROSS-EXPENSE] 3,153,337
[AVERAGE-NET-ASSETS] 356,325,142
[PER-SHARE-NAV-BEGIN] 9.75
[PER-SHARE-NII] 0.26
[PER-SHARE-GAIN-APPREC] 0.06
[PER-SHARE-DIVIDEND] 0.28
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 9.79
[EXPENSE-RATIO] 0.91
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
[NUMBER] 2
[NAME] SMITH BARNEY GOVERNMENT SECURITIES FUND, CLASS B
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1998
[PERIOD-END] JUN-30-1998
[INVESTMENTS-AT-COST] 587,297,210
[INVESTMENTS-AT-VALUE] 596,660,344
[RECEIVABLES] 4,448,832
[ASSETS-OTHER] 157
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 601,109,333
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 434,549
[TOTAL-LIABILITIES] 434,549
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 644,704,392
[SHARES-COMMON-STOCK] 9,014,778
[SHARES-COMMON-PRIOR] 10,349,123
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (1,681,566)
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] (51,711,176)
[ACCUM-APPREC-OR-DEPREC] 9,363,134
[NET-ASSETS] 600,674,784
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 18,651,926
[OTHER-INCOME] 0
[EXPENSES-NET] 2,658,398
[NET-INVESTMENT-INCOME] 15,498,589
[REALIZED-GAINS-CURRENT] 4,103,071
[APPREC-INCREASE-CURRENT] 1,454,031
[NET-CHANGE-FROM-OPS] 19,147,629
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 2,611,031
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 542,315
[NUMBER-OF-SHARES-REDEEMED] 2,056,431
[SHARES-REINVESTED] 179,771
[NET-CHANGE-IN-ASSETS] 26,058,231
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] (15,649)
[OVERDIST-NET-GAINS-PRIOR] (55,814,247)
[GROSS-ADVISORY-FEES] 1,013,845
[INTEREST-EXPENSE] 494,939
[GROSS-EXPENSE] 3,153,337
[AVERAGE-NET-ASSETS] 93,995,211
[PER-SHARE-NAV-BEGIN] 9.79
[PER-SHARE-NII] 0.24
[PER-SHARE-GAIN-APPREC] 0.05
[PER-SHARE-DIVIDEND] 0.27
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 9.81
[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] SMITH BARNEY GOVERNMENT SECURITIES FUND, CLASS L
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1998
[PERIOD-END] JUN-30-1998
[INVESTMENTS-AT-COST] 587,297,210
[INVESTMENTS-AT-VALUE] 596,660,344
[RECEIVABLES] 4,448,832
[ASSETS-OTHER] 157
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 601,109,333
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 434,549
[TOTAL-LIABILITIES] 434,549
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 644,704,392
[SHARES-COMMON-STOCK] 257,566
[SHARES-COMMON-PRIOR] 236,288
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (1,681,566)
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] (51,711,176)
[ACCUM-APPREC-OR-DEPREC] 9,363,134
[NET-ASSETS] 600,674,784
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 18,651,926
[OTHER-INCOME] 0
[EXPENSES-NET] 2,658,398
[NET-INVESTMENT-INCOME] 15,498,589
[REALIZED-GAINS-CURRENT] 4,103,071
[APPREC-INCREASE-CURRENT] 1,454,031
[NET-CHANGE-FROM-OPS] 19,147,629
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 64,840
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 101,193
[NUMBER-OF-SHARES-REDEEMED] 84,258
[SHARES-REINVESTED] 4,343
[NET-CHANGE-IN-ASSETS] 26,058,231
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] (15,649)
[OVERDIST-NET-GAINS-PRIOR] (55,814,247)
[GROSS-ADVISORY-FEES] 1,013,845
[INTEREST-EXPENSE] 494,939
[GROSS-EXPENSE] 3,153,337
[AVERAGE-NET-ASSETS] 2,301,923
[PER-SHARE-NAV-BEGIN] 9.78
[PER-SHARE-NII] 0.24
[PER-SHARE-GAIN-APPREC] 0.05
[PER-SHARE-DIVIDEND] 0.27
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 9.80
[EXPENSE-RATIO] 1.38
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
[NUMBER] 2
[NAME] SMITH BARNEY GOVERNMENT SECURITIES FUND, CLASS Y
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1998
[PERIOD-END] JUN-30-1998
[INVESTMENTS-AT-COST] 587,297,210
[INVESTMENTS-AT-VALUE] 596,660,344
[RECEIVABLES] 4,448,832
[ASSETS-OTHER] 157
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 601,109,333
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 434,549
[TOTAL-LIABILITIES] 434,549
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 644,704,392
[SHARES-COMMON-STOCK] 16,365,654
[SHARES-COMMON-PRIOR] 11,258,233
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (1,681,566)
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] (51,711,176)
[ACCUM-APPREC-OR-DEPREC] 9,363,134
[NET-ASSETS] 600,674,784
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 18,651,926
[OTHER-INCOME] 0
[EXPENSES-NET] 2,658,398
[NET-INVESTMENT-INCOME] 15,498,589
[REALIZED-GAINS-CURRENT] 4,103,071
[APPREC-INCREASE-CURRENT] 1,454,031
[NET-CHANGE-FROM-OPS] 19,147,629
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 4,115,672
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 5,107,421
[NUMBER-OF-SHARES-REDEEMED] 0
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] 26,058,231
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] (15,649)
[OVERDIST-NET-GAINS-PRIOR] (55,814,247)
[GROSS-ADVISORY-FEES] 1,013,845
[INTEREST-EXPENSE] 494,939
[GROSS-EXPENSE] 3,153,337
[AVERAGE-NET-ASSETS] 131,664,782
[PER-SHARE-NAV-BEGIN] 9.76
[PER-SHARE-NII] 0.28
[PER-SHARE-GAIN-APPREC] 0.05
[PER-SHARE-DIVIDEND] 0.30
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 9.79
[EXPENSE-RATIO] 0.56
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
[NUMBER] 3
[NAME] CONCERT PEACHTREE GROWTH FUND, CLASS A
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1998
[PERIOD-END] JUN-30-1998
[INVESTMENTS-AT-COST] 238,788,087
[INVESTMENTS-AT-VALUE] 277,916,200
[RECEIVABLES] 2,840,349
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 280,756,549
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 433,455
[TOTAL-LIABILITIES] 433,455
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 235,929,502
[SHARES-COMMON-STOCK] 4,808,946
[SHARES-COMMON-PRIOR] 5,023,886
[ACCUMULATED-NII-CURRENT] (546,768)
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 5,812,247
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 39,128,113
[NET-ASSETS] 280,323,094
[DIVIDEND-INCOME] 1,168,684
[INTEREST-INCOME] 114,522
[OTHER-INCOME] 0
[EXPENSES-NET] 1,825,420
[NET-INVESTMENT-INCOME] (542,034)
[REALIZED-GAINS-CURRENT] 6,940,944
[APPREC-INCREASE-CURRENT] 33,387,741
[NET-CHANGE-FROM-OPS] 39,786,651
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 13,452
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 486,926
[NUMBER-OF-SHARES-REDEEMED] 702,726
[SHARES-REINVESTED] 860
[NET-CHANGE-IN-ASSETS] 55,255,582
[ACCUMULATED-NII-PRIOR] (4,734)
[ACCUMULATED-GAINS-PRIOR] (1,078,563)
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 1,271,470
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 1,270,470
[AVERAGE-NET-ASSETS] 71,223,519
[PER-SHARE-NAV-BEGIN] 13.41
[PER-SHARE-NII] (0.03)
[PER-SHARE-GAIN-APPREC] 02.28
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 15.66
[EXPENSE-RATIO] 01.57
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
[NUMBER] 3
[NAME] CONCERT PEACHTREE GROWTH FUND, CLASS B
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1998
[PERIOD-END] JUN-30-1998
[INVESTMENTS-AT-COST] 238,788,087
[INVESTMENTS-AT-VALUE] 277,916,200
[RECEIVABLES] 2,840,349
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 280,756,549
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 433,455
[TOTAL-LIABILITIES] 433,455
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 235,929,502
[SHARES-COMMON-STOCK] 3,177,151
[SHARES-COMMON-PRIOR] 3,185,557
[ACCUMULATED-NII-CURRENT] (546,768)
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 5,812,247
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 39,128,113
[NET-ASSETS] 280,323,094
[DIVIDEND-INCOME] 1,168,684
[INTEREST-INCOME] 114,522
[OTHER-INCOME] 0
[EXPENSES-NET] 1,825,420
[NET-INVESTMENT-INCOME] (542,034)
[REALIZED-GAINS-CURRENT] 6,940,944
[APPREC-INCREASE-CURRENT] 33,387,741
[NET-CHANGE-FROM-OPS] 39,786,651
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 8,883
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 325,324
[NUMBER-OF-SHARES-REDEEMED] 334,307
[SHARES-REINVESTED] 577
[NET-CHANGE-IN-ASSETS] 55,255,582
[ACCUMULATED-NII-PRIOR] (4,734)
[ACCUMULATED-GAINS-PRIOR] (1,078,563)
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 1,271,470
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 1,270,470
[AVERAGE-NET-ASSETS] 45,613,489
[PER-SHARE-NAV-BEGIN] 13.24
[PER-SHARE-NII] (0.09)
[PER-SHARE-GAIN-APPREC] 02.26
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 15.41
[EXPENSE-RATIO] 02.31
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
[NUMBER] 3
[NAME] CONCERT PEACHTREE GROWTH FUND, CLASS L
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1998
[PERIOD-END] JUN-30-1998
[INVESTMENTS-AT-COST] 238,788,087
[INVESTMENTS-AT-VALUE] 277,916,200
[RECEIVABLES] 2,840,349
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 280,756,549
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 433,455
[TOTAL-LIABILITIES] 433,455
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 235,929,502
[SHARES-COMMON-STOCK] 11,562
[SHARES-COMMON-PRIOR] 15,315
[ACCUMULATED-NII-CURRENT] (546,768)
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 5,812,247
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 39,128,113
[NET-ASSETS] 280,323,094
[DIVIDEND-INCOME] 1,168,684
[INTEREST-INCOME] 114,522
[OTHER-INCOME] 0
[EXPENSES-NET] 1,825,420
[NET-INVESTMENT-INCOME] (542,034)
[REALIZED-GAINS-CURRENT] 6,940,944
[APPREC-INCREASE-CURRENT] 33,387,741
[NET-CHANGE-FROM-OPS] 39,786,651
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 33
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 587
[NUMBER-OF-SHARES-REDEEMED] 4,342
[SHARES-REINVESTED] 2
[NET-CHANGE-IN-ASSETS] 55,255,582
[ACCUMULATED-NII-PRIOR] (4,734)
[ACCUMULATED-GAINS-PRIOR] (1,078,563)
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 1,271,470
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 1,270,470
[AVERAGE-NET-ASSETS] 193,163
[PER-SHARE-NAV-BEGIN] 13.28
[PER-SHARE-NII] (0.12)
[PER-SHARE-GAIN-APPREC] 02.29
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 15.45
[EXPENSE-RATIO] 02.32
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
[NUMBER] 3
[NAME] CONCERT PEACHTREE GROWTH FUND, CLASS Y
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1998
[PERIOD-END] JUN-30-1998
[INVESTMENTS-AT-COST] 238,788,087
[INVESTMENTS-AT-VALUE] 277,916,200
[RECEIVABLES] 2,840,349
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 280,756,549
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 433,455
[TOTAL-LIABILITIES] 433,455
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 235,929,502
[SHARES-COMMON-STOCK] 9,923,602
[SHARES-COMMON-PRIOR] 8,597,965
[ACCUMULATED-NII-CURRENT] (546,768)
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 5,812,247
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 39,128,113
[NET-ASSETS] 280,323,094
[DIVIDEND-INCOME] 1,168,684
[INTEREST-INCOME] 114,522
[OTHER-INCOME] 0
[EXPENSES-NET] 1,825,420
[NET-INVESTMENT-INCOME] (542,034)
[REALIZED-GAINS-CURRENT] 6,940,944
[APPREC-INCREASE-CURRENT] 33,387,741
[NET-CHANGE-FROM-OPS] 39,786,651
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 27,766
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 1,325,637
[NUMBER-OF-SHARES-REDEEMED] 0
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] 55,255,582
[ACCUMULATED-NII-PRIOR] (4,734)
[ACCUMULATED-GAINS-PRIOR] (1,078,563)
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 1,271,470
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 1,270,470
[AVERAGE-NET-ASSETS] 140,695,806
[PER-SHARE-NAV-BEGIN] 13.47
[PER-SHARE-NII] 00.01
[PER-SHARE-GAIN-APPREC] 02.28
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 15.71
[EXPENSE-RATIO] 01.07
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
[NUMBER] 4
[NAME] SMITH BARNEY CONTRARIAN FUND, CLASS A
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1998
[PERIOD-END] JUN-30-1998
[INVESTMENTS-AT-COST] 739,043,112
[INVESTMENTS-AT-VALUE] 804,969,837
[RECEIVABLES] 12,286,711
[ASSETS-OTHER] 696
[OTHER-ITEMS-ASSETS] 79,795,692
[TOTAL-ASSETS] 897,052,936
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 80,603,761
[TOTAL-LIABILITIES] 80,603,761
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 669,821,175
[SHARES-COMMON-STOCK] 12,678,316
[SHARES-COMMON-PRIOR] 16,544,137
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 1,059,068
[ACCUMULATED-NET-GAINS] 81,760,343
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 65,926,725
[NET-ASSETS] 816,449,175
[DIVIDEND-INCOME] 4,984,122
[INTEREST-INCOME] 1,943,865
[OTHER-INCOME] 0
[EXPENSES-NET] 7,905,605
[NET-INVESTMENT-INCOME] (1,025,822)
[REALIZED-GAINS-CURRENT] 81,815,412
[APPREC-INCREASE-CURRENT] (45,161,476)
[NET-CHANGE-FROM-OPS] 35,628,114
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 2,874,745
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 598,449
[NUMBER-OF-SHARES-REDEEMED] 4,656,851
[SHARES-REINVESTED] 192,581
[NET-CHANGE-IN-ASSETS] (144,182,648)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 12,803,757
[OVERDISTRIB-NII-PRIOR] 33,246
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 3,930,891
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 7,905,605
[AVERAGE-NET-ASSETS] 222,574,610
[PER-SHARE-NAV-BEGIN] 14.21
[PER-SHARE-NII] 00.04
[PER-SHARE-GAIN-APPREC] 00.44
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 00.23
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 14.46
[EXPENSE-RATIO] 01.26
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
[NUMBER] 4
[NAME] SMITH BARNEY CONTRARIAN FUND, CLASS B
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1998
[PERIOD-END] JUN-30-1998
[INVESTMENTS-AT-COST] 739,043,112
[INVESTMENTS-AT-VALUE] 804,969,837
[RECEIVABLES] 12,286,711
[ASSETS-OTHER] 696
[OTHER-ITEMS-ASSETS] 79,795,692
[TOTAL-ASSETS] 897,052,936
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 80,603,761
[TOTAL-LIABILITIES] 80,603,761
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 669,821,175
[SHARES-COMMON-STOCK] 33,076,944
[SHARES-COMMON-PRIOR] 38,789,375
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 1,059,068
[ACCUMULATED-NET-GAINS] 81,760,343
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 65,926,725
[NET-ASSETS] 816,449,175
[DIVIDEND-INCOME] 4,984,122
[INTEREST-INCOME] 1,943,865
[OTHER-INCOME] 0
[EXPENSES-NET] 7,905,605
[NET-INVESTMENT-INCOME] (1,025,822)
[REALIZED-GAINS-CURRENT] 81,815,412
[APPREC-INCREASE-CURRENT] (45,161,476)
[NET-CHANGE-FROM-OPS] 35,628,114
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 7,475,865
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 733,929
[NUMBER-OF-SHARES-REDEEMED] 6,949,580
[SHARES-REINVESTED] 503,220
[NET-CHANGE-IN-ASSETS] (144,182,648)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 12,803,757
[OVERDISTRIB-NII-PRIOR] 33,246
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 3,930,891
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 7,905,605
[AVERAGE-NET-ASSETS] 535,853,175
[PER-SHARE-NAV-BEGIN] 14.11
[PER-SHARE-NII] 00.04
[PER-SHARE-GAIN-APPREC] 00.46
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 00.23
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 14.30
[EXPENSE-RATIO] 02.03
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
[NUMBER] 4
[NAME] SMITH BARNEY CONTRARIAN FUND, CLASS L
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1998
[PERIOD-END] JUN-30-1998
[INVESTMENTS-AT-COST] 739,043,112
[INVESTMENTS-AT-VALUE] 804,969,837
[RECEIVABLES] 12,286,711
[ASSETS-OTHER] 696
[OTHER-ITEMS-ASSETS] 79,795,692
[TOTAL-ASSETS] 897,052,936
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 80,603,761
[TOTAL-LIABILITIES] 80,603,761
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 669,821,175
[SHARES-COMMON-STOCK] 4,256,259
[SHARES-COMMON-PRIOR] 5,440,538
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 1,059,068
[ACCUMULATED-NET-GAINS] 81,760,343
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 65,926,725
[NET-ASSETS] 816,449,175
[DIVIDEND-INCOME] 4,984,122
[INTEREST-INCOME] 1,943,865
[OTHER-INCOME] 0
[EXPENSES-NET] 7,905,605
[NET-INVESTMENT-INCOME] (1,025,822)
[REALIZED-GAINS-CURRENT] 81,815,412
[APPREC-INCREASE-CURRENT] (45,161,476)
[NET-CHANGE-FROM-OPS] 35,628,114
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 974,809
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 176,056
[NUMBER-OF-SHARES-REDEEMED] 1,427,350
[SHARES-REINVESTED] 67,015
[NET-CHANGE-IN-ASSETS] (144,182,648)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 12,803,757
[OVERDISTRIB-NII-PRIOR] 33,246
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 3,930,891
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 7,905,605
[AVERAGE-NET-ASSETS] 72,957,618
[PER-SHARE-NAV-BEGIN] 14.12
[PER-SHARE-NII] 00.04
[PER-SHARE-GAIN-APPREC] 00.45
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 00.23
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 14.30
[EXPENSE-RATIO] 02.01
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
[NUMBER] 4
[NAME] SMITH BARNEY CONTRARIAN FUND, CLASS Y
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1998
[PERIOD-END] JUN-30-1998
[INVESTMENTS-AT-COST] 739,043,112
[INVESTMENTS-AT-VALUE] 804,969,837
[RECEIVABLES] 12,286,711
[ASSETS-OTHER] 696
[OTHER-ITEMS-ASSETS] 79,795,692
[TOTAL-ASSETS] 897,052,936
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 80,603,761
[TOTAL-LIABILITIES] 80,603,761
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 669,821,175
[SHARES-COMMON-STOCK] 5,082,410
[SHARES-COMMON-PRIOR] 5,028,358
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 1,059,068
[ACCUMULATED-NET-GAINS] 81,760,343
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 65,926,725
[NET-ASSETS] 816,449,175
[DIVIDEND-INCOME] 4,984,122
[INTEREST-INCOME] 1,943,865
[OTHER-INCOME] 0
[EXPENSES-NET] 7,905,605
[NET-INVESTMENT-INCOME] (1,025,822)
[REALIZED-GAINS-CURRENT] 81,815,412
[APPREC-INCREASE-CURRENT] (45,161,476)
[NET-CHANGE-FROM-OPS] 35,628,114
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 1,136,496
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 680,184
[NUMBER-OF-SHARES-REDEEMED] 626,132
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] (144,182,648)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 12,803,757
[OVERDISTRIB-NII-PRIOR] 33,246
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 3,930,891
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 7,905,605
[AVERAGE-NET-ASSETS] 70,073,032
[PER-SHARE-NAV-BEGIN] 14.24
[PER-SHARE-NII] 00.03
[PER-SHARE-GAIN-APPREC] 00.47
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 00.23
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 14.51
[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] SMITH BARNEY CONTRARIAN FUND, CLASS Z
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1998
[PERIOD-END] JUN-30-1998
[INVESTMENTS-AT-COST] 739,043,112
[INVESTMENTS-AT-VALUE] 804,969,837
[RECEIVABLES] 12,286,711
[ASSETS-OTHER] 696
[OTHER-ITEMS-ASSETS] 79,795,692
[TOTAL-ASSETS] 897,052,936
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 80,603,761
[TOTAL-LIABILITIES] 80,603,761
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 669,821,175
[SHARES-COMMON-STOCK] 1,767,900
[SHARES-COMMON-PRIOR] 2,076,500
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 1,059,068
[ACCUMULATED-NET-GAINS] 81,760,343
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 65,926,725
[NET-ASSETS] 816,449,175
[DIVIDEND-INCOME] 4,984,122
[INTEREST-INCOME] 1,943,865
[OTHER-INCOME] 0
[EXPENSES-NET] 7,905,605
[NET-INVESTMENT-INCOME] (1,025,822)
[REALIZED-GAINS-CURRENT] 81,815,412
[APPREC-INCREASE-CURRENT] (45,161,476)
[NET-CHANGE-FROM-OPS] 35,628,114
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 396,911
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 159,285
[NUMBER-OF-SHARES-REDEEMED] 506,175
[SHARES-REINVESTED] 38,290
[NET-CHANGE-IN-ASSETS] (144,182,648)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 12,803,757
[OVERDISTRIB-NII-PRIOR] 33,246
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 3,930,891
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 7,905,605
[AVERAGE-NET-ASSETS] 30,338,054
[PER-SHARE-NAV-BEGIN] 14.24
[PER-SHARE-NII] 00.03
[PER-SHARE-GAIN-APPREC] 00.46
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 00.23
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 14.50
[EXPENSE-RATIO] 00.91
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
[NUMBER] 5
[NAME] SMITH BARNEY SPECIAL EQUITIES FUND, CLASS A
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1998
[PERIOD-END] JUN-30-1998
[INVESTMENTS-AT-COST] 421,228,992
[INVESTMENTS-AT-VALUE] 512,564,395
[RECEIVABLES] 2,778,699
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 51,974,820
[TOTAL-ASSETS] 567,018,914
[PAYABLE-FOR-SECURITIES] 2,637,596
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 53,670,425
[TOTAL-LIABILITIES] 56,308,021
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 403,555,746
[SHARES-COMMON-STOCK] 6,208,692
[SHARES-COMMON-PRIOR] 6,670,017
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 1,998,090
[ACCUMULATED-NET-GAINS] 18,116,834
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 91,036,403
[NET-ASSETS] 510,710,893
[DIVIDEND-INCOME] 388,246
[INTEREST-INCOME] 1,312,351
[OTHER-INCOME] 0
[EXPENSES-NET] 3,683,806
[NET-INVESTMENT-INCOME] (1,983,209)
[REALIZED-GAINS-CURRENT] 68,729,350
[APPREC-INCREASE-CURRENT] (17,699,429)
[NET-CHANGE-FROM-OPS] 49,046,712
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 17,101,126
[NUMBER-OF-SHARES-REDEEMED] 17,562,451
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] (49,847,891)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 14,881
[OVERDIST-NET-GAINS-PRIOR] 50,612,516
[GROSS-ADVISORY-FEES] 1,403,004
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 3,683,806
[AVERAGE-NET-ASSETS] 169,421,873
[PER-SHARE-NAV-BEGIN] 26.52
[PER-SHARE-NII] (0.07)
[PER-SHARE-GAIN-APPREC] 02.65
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 29.10
[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] SMITH BARNEY SPECIAL EQUITIES FUND, CLASS B
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1998
[PERIOD-END] JUN-30-1998
[INVESTMENTS-AT-COST] 421,228,992
[INVESTMENTS-AT-VALUE] 512,564,395
[RECEIVABLES] 2,778,699
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 51,974,820
[TOTAL-ASSETS] 567,018,914
[PAYABLE-FOR-SECURITIES] 2,637,596
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 53,670,425
[TOTAL-LIABILITIES] 56,308,021
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 403,555,746
[SHARES-COMMON-STOCK] 6,861,726
[SHARES-COMMON-PRIOR] 9,563,395
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 1,998,090
[ACCUMULATED-NET-GAINS] 18,116,834
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 91,036,403
[NET-ASSETS] 510,710,893
[DIVIDEND-INCOME] 388,246
[INTEREST-INCOME] 1,312,351
[OTHER-INCOME] 0
[EXPENSES-NET] 3,683,806
[NET-INVESTMENT-INCOME] (1,983,209)
[REALIZED-GAINS-CURRENT] 68,729,350
[APPREC-INCREASE-CURRENT] (17,699,429)
[NET-CHANGE-FROM-OPS] 49,046,712
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 258,494
[NUMBER-OF-SHARES-REDEEMED] 2,960,163
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] (49,847,891)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 14,881
[OVERDIST-NET-GAINS-PRIOR] 50,612,516
[GROSS-ADVISORY-FEES] 1,403,004
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 3,683,806
[AVERAGE-NET-ASSETS] 214,311,241
[PER-SHARE-NAV-BEGIN] 25.54
[PER-SHARE-NII] (0.26)
[PER-SHARE-GAIN-APPREC] 02.64
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 27.92
[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] SMITH BARNEY SPECIAL EQUITIES FUND, CLASS L
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1998
[PERIOD-END] JUN-30-1998
[INVESTMENTS-AT-COST] 421,228,992
[INVESTMENTS-AT-VALUE] 512,564,395
[RECEIVABLES] 2,778,699
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 51,974,820
[TOTAL-ASSETS] 567,018,914
[PAYABLE-FOR-SECURITIES] 2,637,596
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 53,670,425
[TOTAL-LIABILITIES] 56,308,021
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 403,555,746
[SHARES-COMMON-STOCK] 489,338
[SHARES-COMMON-PRIOR] 733,259
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 1,998,090
[ACCUMULATED-NET-GAINS] 18,116,834
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 91,036,403
[NET-ASSETS] 510,710,893
[DIVIDEND-INCOME] 388,246
[INTEREST-INCOME] 1,312,351
[OTHER-INCOME] 0
[EXPENSES-NET] 3,683,806
[NET-INVESTMENT-INCOME] (1,983,209)
[REALIZED-GAINS-CURRENT] 68,729,350
[APPREC-INCREASE-CURRENT] (17,699,429)
[NET-CHANGE-FROM-OPS] 49,046,712
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 43,575
[NUMBER-OF-SHARES-REDEEMED] 287,496
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] (49,847,891)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 14,881
[OVERDIST-NET-GAINS-PRIOR] 50,612,516
[GROSS-ADVISORY-FEES] 1,403,004
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 3,683,806
[AVERAGE-NET-ASSETS] 15,533,753
[PER-SHARE-NAV-BEGIN] 25.54
[PER-SHARE-NII] (0.28)
[PER-SHARE-GAIN-APPREC] 02.66
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 27.92
[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] SMITH BARNEY SPECIAL EQUITIES FUND, CLASS Y
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1998
[PERIOD-END] JUN-30-1998
[INVESTMENTS-AT-COST] 421,228,992
[INVESTMENTS-AT-VALUE] 512,564,395
[RECEIVABLES] 2,778,699
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 51,974,820
[TOTAL-ASSETS] 567,018,914
[PAYABLE-FOR-SECURITIES] 2,637,596
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 53,670,425
[TOTAL-LIABILITIES] 56,308,021
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 403,555,746
[SHARES-COMMON-STOCK] 3,814,113
[SHARES-COMMON-PRIOR] 3,979,659
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 1,998,090
[ACCUMULATED-NET-GAINS] 18,116,834
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 91,036,403
[NET-ASSETS] 510,710,893
[DIVIDEND-INCOME] 388,246
[INTEREST-INCOME] 1,312,351
[OTHER-INCOME] 0
[EXPENSES-NET] 3,683,806
[NET-INVESTMENT-INCOME] (1,983,209)
[REALIZED-GAINS-CURRENT] 68,729,350
[APPREC-INCREASE-CURRENT] (17,699,429)
[NET-CHANGE-FROM-OPS] 49,046,712
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 424,604
[NUMBER-OF-SHARES-REDEEMED] 590,150
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] (49,847,891)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 14,881
[OVERDIST-NET-GAINS-PRIOR] 50,612,516
[GROSS-ADVISORY-FEES] 1,403,004
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 3,683,806
[AVERAGE-NET-ASSETS] 100,849,402
[PER-SHARE-NAV-BEGIN] 26.72
[PER-SHARE-NII] (0.01)
[PER-SHARE-GAIN-APPREC] 02.67
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 29.38
[EXPENSE-RATIO] 00.80
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000355747
[NAME] SMITH BARNEY INVESTMENT FUNDS INC.
[SERIES]
[NUMBER] 5
[NAME] SMITH BARNEY SPECIAL EQUITIES FUND, CLASS Z
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1998
[PERIOD-END] JUN-30-1998
[INVESTMENTS-AT-COST] 421,228,992
[INVESTMENTS-AT-VALUE] 512,564,395
[RECEIVABLES] 2,778,699
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 51,974,820
[TOTAL-ASSETS] 567,018,914
[PAYABLE-FOR-SECURITIES] 2,637,596
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 53,670,425
[TOTAL-LIABILITIES] 56,308,021
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 403,555,746
[SHARES-COMMON-STOCK] 432,738
[SHARES-COMMON-PRIOR] 535,942
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 1,998,090
[ACCUMULATED-NET-GAINS] 18,116,834
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 91,036,403
[NET-ASSETS] 510,710,893
[DIVIDEND-INCOME] 388,246
[INTEREST-INCOME] 1,312,351
[OTHER-INCOME] 0
[EXPENSES-NET] 3,683,806
[NET-INVESTMENT-INCOME] (1,983,209)
[REALIZED-GAINS-CURRENT] 68,729,350
[APPREC-INCREASE-CURRENT] (17,699,429)
[NET-CHANGE-FROM-OPS] 49,046,712
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 48,392
[NUMBER-OF-SHARES-REDEEMED] 151,596
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] (49,847,891)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 14,881
[OVERDIST-NET-GAINS-PRIOR] 50,612,516
[GROSS-ADVISORY-FEES] 1,403,004
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 3,683,806
[AVERAGE-NET-ASSETS] 13,988,516
[PER-SHARE-NAV-BEGIN] 26.76
[PER-SHARE-NII] 00.02
[PER-SHARE-GAIN-APPREC] 02.64
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 29.42
[EXPENSE-RATIO] 00.81
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
SMITH BARNEY INVESTMENT FUNDS INC.
10f-3 REPORT
December 1, 1997 through May 31, 1998
% of
Trade Purchase % of
Issuer Date Selling Dealer Shares
Price Issue
Aqua Penn 1/29/98 Paine Webber 60,000
$13.00 1.46%
Keebler Foods Co. 1/29/98 CS First Boston 51,000
24.00 0.66
Advanced Communications 2/12/98 Paine Webber 150,000
14.00 1.88
Duane Read Inc. 2/29/98 Donaldson, Lufkin & Jenrette 3,600
16.50 0.54
PC Connection Inc. 3/3/98 Donaldson, Lufkin & Jenrette 20,000
17.50 0.64
Bright Star 4/17/98 Oppenheimer & Co. 100 13.00
2.67
Caliber Learning 5/6/98 BT Alex Brown 12,500
14.00 2.31
Cavanaugh Hospitality Corp. 4/3/98 CIBC Oppenheimer 6,000 15.00
0.96
Charles River Associates 4/23/98 Montgomery Securities
1,380 18.50 0.69
Columbia Sportswear Co. 3/26/98 Goldman Sachs 2,250
18.00 0.44
DSET 3/12/98 BT Alex Brown 2,800 16.00
0.67
Happy Kids 4/3/98 Ladenberg Thalmann & Co. 50,000
10.00 2.27
ISS Group 3/23/98 Goldman Sachs 1,017 22.00
0.37
PC Connection Inc. 3/3/98 DLJ 20,000
17.50 0.64
Provant 4/28/98 Montgomery Securities 2,200
13.00 0.77
Reltec 3/12/98 Morgan Stanley 1,800
29.00 0.36
Ultralite 4/30/98 Lehman Brothers 75,000
12.50 3.00
United Road Services 5/1/98 DLJ 25,000
13.00 0.45
