SMITH BARNEY SHEARSON TELECOMMUNICATIONS TRUST
NSAR-B, 1995-02-24
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<PAGE>      PAGE  1
000 B000000 12/31/94
000 C000000 721648
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 SMITH BARNEY TELECOMMUNICATIONS TRUST
001 B000000 811-3763
001 C000000 6172483403
002 A000000 ONE BOSTON PLACE
002 B000000 BOSTON
002 C000000 MA
002 D010000 02108
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  2
007 C010100  1
007 C020100 SB TELECOMMUNICATIONS GROWTH FUND
007 C030100 N
007 C010200  2
007 C020200 SB TELECOMMUNICATIONS INCOME FUND
007 C030200 N
007 C010300  3
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 SMITH BARNEY STRATEGY ADVISERS INC.
008 B00AA01 A
008 C00AA01 801-3387
008 D01AA01 NEW YORK
008 D02AA01 NY
008 D03AA01 10013
008 A00AA02 THE BOSTON COMPANY ADVISORS, INC.
008 B00AA02 S
008 C00AA02 801-14158
008 D01AA02 BOSTON
008 D02AA02 MA
008 D03AA02 02108
010 A00AA01 SMITH BARNEY MUTUAL MANAGEMENT INC.
010 B00AA01 801-8314
010 C01AA01 NEW YORK
<PAGE>      PAGE  2
010 C02AA01 NY
010 C03AA01 10013
010 A00AA02 THE BOSTON COMPANY ADVISORS, INC.
010 B00AA02 801-14158
010 C01AA02 BOSTON
010 C02AA02 MA
010 C03AA02 02108
011 A00AA01 SMITH BARNEY INC.
011 B00AA01 8-12324
011 C01AA01 NEW YORK
011 C02AA01 NY
011 C03AA01 10013
012 A00AA01 THE SHAREHOLDER SERVICES GROUP, INC.
012 B00AA01 84-9999
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02109
013 A00AA01 COOPERS & LYBRAND L.L.P.
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02109
014 A00AA01 SMITH BARNEY, INC.
014 B00AA01 8-12324
015 A00AA01 BOSTON SAFE DEPOSIT AND TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02108
015 E01AA01 X
018  00AA00 Y
019 A00AA00 Y
019 B00AA00   67
019 C00AA00 SHEARSONRE
020 A000001 SMITH BARNEY INC.
020 B000001 13-1912900
020 C000001     42
020 A000002 WAGNER SCOTT & CO.
020 C000002     17
020 A000003 WARBURG (S.Q.) + CO. LTD., NY
020 B000003 13-3340445
020 C000003     16
020 A000004 COWEN & CO.
020 B000004 13-5616116
020 C000004     15
020 A000005 BOSTON INSTITUTIONAL SERVICES INC.
020 B000005 04-2479358
020 C000005     14
020 A000006 MORGAN STANLEY & CO. INC., NY
020 C000006      9
020 A000007 DIANA SECURITIES
020 C000007      7
<PAGE>      PAGE  3
020 A000008 FIRST MANHATTEN CO.
020 C000008      6
020 A000009 OPPENHEIMER & CO. INC. NY
020 B000009 13-2798343
020 C000009      5
020 A000010 GORDON CAPITAL INC.
020 C000010      5
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022 A000004 UNION BANK OF SWITZERLAND, NY
022 C000004     23256
022 D000004         0
022 A000005 FIRST BOSTON CORP. NY
022 C000005       379
022 D000005      8063
022 A000006 DONALDSON, LUFKIN & JENRETTE
022 C000006      4523
022 D000006      3407
022 A000007 DEAN WITTER REYNOLDS INC.
022 C000007      5149
022 D000007         0
022 A000008 HERZOG HEINE GEDULD INC.
022 C000008      3163
022 D000008      1851
022 A000009 FURMAN SELZ
022 C000009      2119
022 D000009      2553
022 A000010 MORGAN STANLEY & CO. INC. NY
022 C000010      4237
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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
034  000100 Y
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066 D000100 N
066 E000100 N
066 F000100 N
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068 B000100 N
069  000100 N
070 A010100 Y
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070 B010100 Y
070 B020100 N
070 C010100 N
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 Y
070 K010100 N
070 K020100 N
<PAGE>      PAGE  8
070 L010100 Y
070 L020100 Y
070 M010100 N
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 Y
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
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<PAGE>      PAGE  9
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028 A010200         0
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<PAGE>      PAGE  10
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029  000200 N
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036 B000200      0
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039  000200 N
040  000200 N
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060 A000200 N
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066 A000200 Y
066 B000200 N
066 C000200 N
066 D000200 N
066 E000200 N
066 F000200 Y
066 G000200 N
067  000200 N
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068 B000200 N
069  000200 N
070 A010200 Y
070 A020200 Y
070 B010200 Y
070 B020200 N
070 C010200 N
<PAGE>      PAGE  11
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 N
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 N
070 J020200 N
070 K010200 N
070 K020200 N
070 L010200 Y
070 L020200 N
070 M010200 N
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 Y
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200         0
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071 C000200     66940
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075 A000200    67534
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076  000200     0.00
SIGNATURE   CHRISTINA HAAGE                              
TITLE       ASSISTANT TREASURER 
 

WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE>  6
<SERIES>
              <NUMBER> 2
              <NAME> SMITH BARNEY TELECOMMUNICATIONS GROWTH FUND CLASS
       
<S>                                     <C>
<PERIOD-TYPE>                           12-MOS
<FISCAL-YEAR-END>                       DEC-31-1994
<PERIOD-END>                            DEC-31-1994
<INVESTMENTS-AT-COST>                                     254,994,120
<INVESTMENTS-AT-VALUE>                                    270,070,642
<RECEIVABLES>                                                 638,800
<ASSETS-OTHER>                                                      0
<OTHER-ITEMS-ASSETS>                                            1,001
<TOTAL-ASSETS>                                            270,710,443
<PAYABLE-FOR-SECURITIES>                                            0
<SENIOR-LONG-TERM-DEBT>                                             0
<OTHER-ITEMS-LIABILITIES>                                     661,031
<TOTAL-LIABILITIES>                                           661,031
<SENIOR-EQUITY>                                                     0
<PAID-IN-CAPITAL-COMMON>                                  262,478,800
<SHARES-COMMON-STOCK>                                       7,047,820
<SHARES-COMMON-PRIOR>                                       6,029,686
<ACCUMULATED-NII-CURRENT>                                           0
<OVERDISTRIBUTION-NII>                                              0
<ACCUMULATED-NET-GAINS>                                             0
<OVERDISTRIBUTION-GAINS>                                   (7,505,910)
<ACCUM-APPREC-OR-DEPREC>                                   15,076,522
<NET-ASSETS>                                              270,049,412
<DIVIDEND-INCOME>                                           1,717,758
<INTEREST-INCOME>                                             847,139
<OTHER-INCOME>                                                      0
<EXPENSES-NET>                                              4,894,368
<NET-INVESTMENT-INCOME>                                    (2,329,471)
<REALIZED-GAINS-CURRENT>                                   (5,848,735)
<APPREC-INCREASE-CURRENT>                                 (10,566,252)
<NET-CHANGE-FROM-OPS>                                     (18,744,458)
<EQUALIZATION>                                                      0
<DISTRIBUTIONS-OF-INCOME>                                     910,324
<DISTRIBUTIONS-OF-GAINS>                                            0
<DISTRIBUTIONS-OTHER>                                               0
<NUMBER-OF-SHARES-SOLD>                                     2,118,919
<NUMBER-OF-SHARES-REDEEMED>                                 1,170,354
<SHARES-REINVESTED>                                            69,569
<NET-CHANGE-IN-ASSETS>                                     35,704,438
<ACCUMULATED-NII-PRIOR>                                             0
<ACCUMULATED-GAINS-PRIOR>                                           0
<OVERDISTRIB-NII-PRIOR>                                             0
<OVERDIST-NET-GAINS-PRIOR>                                 (1,431,650)
<GROSS-ADVISORY-FEES>                                       1,481,035
<INTEREST-EXPENSE>                                                  0
<GROSS-EXPENSE>                                             4,894,368
<AVERAGE-NET-ASSETS>                                      269,279,177
<PER-SHARE-NAV-BEGIN>                                           12.86
<PER-SHARE-NII>                                                  0.04
<PER-SHARE-GAIN-APPREC>                                         (0.78)
<PER-SHARE-DIVIDEND>                                             0.13
<PER-SHARE-DISTRIBUTIONS>                                        0.00
<RETURNS-OF-CAPITAL>                                             0.00
<PER-SHARE-NAV-END>                                             11.91
<EXPENSE-RATIO>                                                  1.24
<AVG-DEBT-OUTSTANDING>                                              0
<AVG-DEBT-PER-SHARE>                                                0

<ARTICLE>  6
<SERIES>
              [NUMBER] 2
              <NAME> SMITH BARNEY TELECOMMUNICATIONS GROWTH FUND CLASS
       
<S>                                     <C>
<PERIOD-TYPE>                           12-MOS
<FISCAL-YEAR-END>                       DEC-31-1994
<PERIOD-END>                            DEC-31-1994
[INVESTMENTS-AT-COST]                                     254,994,120
[INVESTMENTS-AT-VALUE]                                    270,070,642
[RECEIVABLES]                                                 638,800
[ASSETS-OTHER]                                                      0
[OTHER-ITEMS-ASSETS]                                            1,001
[TOTAL-ASSETS]                                            270,710,443
[PAYABLE-FOR-SECURITIES]                                            0
[SENIOR-LONG-TERM-DEBT]                                             0
[OTHER-ITEMS-LIABILITIES]                                     661,031
[TOTAL-LIABILITIES]                                           661,031
[SENIOR-EQUITY]                                                     0
[PAID-IN-CAPITAL-COMMON]                                  262,478,800
[SHARES-COMMON-STOCK]                                      15,740,770
[SHARES-COMMON-PRIOR]                                      12,279,495
[ACCUMULATED-NII-CURRENT]                                           0
[OVERDISTRIBUTION-NII]                                              0
[ACCUMULATED-NET-GAINS]                                             0
[OVERDISTRIBUTION-GAINS]                                   (7,505,910)
[ACCUM-APPREC-OR-DEPREC]                                   15,076,522
[NET-ASSETS]                                              270,049,412
[DIVIDEND-INCOME]                                           1,717,758
[INTEREST-INCOME]                                             847,139
[OTHER-INCOME]                                                      0
[EXPENSES-NET]                                              4,894,368
[NET-INVESTMENT-INCOME]                                    (2,329,471)
[REALIZED-GAINS-CURRENT]                                   (5,848,735)
[APPREC-INCREASE-CURRENT]                                 (10,566,252)
[NET-CHANGE-FROM-OPS]                                     (18,744,458)
[EQUALIZATION]                                                      0
[DISTRIBUTIONS-OF-INCOME]                                     540,581
[DISTRIBUTIONS-OF-GAINS]                                            0
[DISTRIBUTIONS-OTHER]                                               0
[NUMBER-OF-SHARES-SOLD]                                     6,989,940
[NUMBER-OF-SHARES-REDEEMED]                                 3,572,347
[SHARES-REINVESTED]                                            43,682
[NET-CHANGE-IN-ASSETS]                                     35,704,438
[ACCUMULATED-NII-PRIOR]                                             0
[ACCUMULATED-GAINS-PRIOR]                                           0
[OVERDISTRIB-NII-PRIOR]                                             0
[OVERDIST-NET-GAINS-PRIOR]                                 (1,431,650)
[GROSS-ADVISORY-FEES]                                       1,481,035
[INTEREST-EXPENSE]                                                  0
[GROSS-EXPENSE]                                             4,894,368
[AVERAGE-NET-ASSETS]                                      269,279,177
[PER-SHARE-NAV-BEGIN]                                           12.77
[PER-SHARE-NII]                                                 (0.14)
[PER-SHARE-GAIN-APPREC]                                         (0.78)
[PER-SHARE-DIVIDEND]                                             0.03
[PER-SHARE-DISTRIBUTIONS]                                        0.00
[RETURNS-OF-CAPITAL]                                             0.00
[PER-SHARE-NAV-END]                                             11.82
[EXPENSE-RATIO]                                                  2.07
[AVG-DEBT-OUTSTANDING]                                              0
[AVG-DEBT-PER-SHARE]                                                0

<ARTICLE>  6
<SERIES>
              [NUMBER] 2
              <NAME> SMITH BARNEY TELECOMMUNICATIONS GROWTH FUND CLASS
       
<S>                                     <C>
<PERIOD-TYPE>                           12-MOS
<FISCAL-YEAR-END>                       DEC-31-1994
<PERIOD-END>                            DEC-31-1994
[INVESTMENTS-AT-COST]                                     254,994,120
[INVESTMENTS-AT-VALUE]                                    270,070,642
[RECEIVABLES]                                                 638,800
[ASSETS-OTHER]                                                      0
[OTHER-ITEMS-ASSETS]                                            1,001
[TOTAL-ASSETS]                                            270,710,443
[PAYABLE-FOR-SECURITIES]                                            0
[SENIOR-LONG-TERM-DEBT]                                             0
[OTHER-ITEMS-LIABILITIES]                                     661,031
[TOTAL-LIABILITIES]                                           661,031
[SENIOR-EQUITY]                                                     0
[PAID-IN-CAPITAL-COMMON]                                  262,478,800
[SHARES-COMMON-STOCK]                                          12,601
[SHARES-COMMON-PRIOR]                                               0
[ACCUMULATED-NII-CURRENT]                                           0
[OVERDISTRIBUTION-NII]                                              0
[ACCUMULATED-NET-GAINS]                                             0
[OVERDISTRIBUTION-GAINS]                                   (7,505,910)
[ACCUM-APPREC-OR-DEPREC]                                   15,076,522
[NET-ASSETS]                                              270,049,412
[DIVIDEND-INCOME]                                           1,717,758
[INTEREST-INCOME]                                             847,139
[OTHER-INCOME]                                                      0
[EXPENSES-NET]                                              4,894,368
[NET-INVESTMENT-INCOME]                                    (2,329,471)
[REALIZED-GAINS-CURRENT]                                   (5,848,735)
[APPREC-INCREASE-CURRENT]                                 (10,566,252)
[NET-CHANGE-FROM-OPS]                                     (18,744,458)
[EQUALIZATION]                                                      0
[DISTRIBUTIONS-OF-INCOME]                                         392
[DISTRIBUTIONS-OF-GAINS]                                            0
[DISTRIBUTIONS-OTHER]                                               0
[NUMBER-OF-SHARES-SOLD]                                        12,569
[NUMBER-OF-SHARES-REDEEMED]                                         0
[SHARES-REINVESTED]                                                32
[NET-CHANGE-IN-ASSETS]                                     35,704,438
[ACCUMULATED-NII-PRIOR]                                             0
[ACCUMULATED-GAINS-PRIOR]                                           0
[OVERDISTRIB-NII-PRIOR]                                             0
[OVERDIST-NET-GAINS-PRIOR]                                 (1,431,650)
[GROSS-ADVISORY-FEES]                                       1,481,035
[INTEREST-EXPENSE]                                                  0
[GROSS-EXPENSE]                                             4,894,368
[AVERAGE-NET-ASSETS]                                      269,279,177
[PER-SHARE-NAV-BEGIN]                                           12.70
[PER-SHARE-NII]                                                 (0.01)
[PER-SHARE-GAIN-APPREC]                                         (0.66)
[PER-SHARE-DIVIDEND]                                             0.03
[PER-SHARE-DISTRIBUTIONS]                                        0.00
[RETURNS-OF-CAPITAL]                                             0.00
[PER-SHARE-NAV-END]                                             12.00
[EXPENSE-RATIO]                                                  2.08
[AVG-DEBT-OUTSTANDING]                                              0
[AVG-DEBT-PER-SHARE]                                                0




























</TABLE>

<TABLE> <S> <C>

<ARTICLE>  6
<SERIES>
              <NUMBER> 0
              <NAME> SMITH BARNEY TELECOMMUNICATIONS INCOME FUND
       
<S>                                     <C>
<PERIOD-TYPE>                           12-MOS
<FISCAL-YEAR-END>                       DEC-31-1994
<PERIOD-END>                            DEC-31-1994
<INVESTMENTS-AT-COST>                                      19,761,652
<INVESTMENTS-AT-VALUE>                                     63,258,402
<RECEIVABLES>                                                 269,212
<ASSETS-OTHER>                                                      0
<OTHER-ITEMS-ASSETS>                                               75
<TOTAL-ASSETS>                                             63,527,689
<PAYABLE-FOR-SECURITIES>                                            0
<SENIOR-LONG-TERM-DEBT>                                             0
<OTHER-ITEMS-LIABILITIES>                                   2,271,891
<TOTAL-LIABILITIES>                                         2,271,891
<SENIOR-EQUITY>                                                     0
<PAID-IN-CAPITAL-COMMON>                                   17,757,298
<SHARES-COMMON-STOCK>                                         640,586
<SHARES-COMMON-PRIOR>                                         665,030
<ACCUMULATED-NII-CURRENT>                                       1,750
<OVERDISTRIBUTION-NII>                                              0
<ACCUMULATED-NET-GAINS>                                             0
<OVERDISTRIBUTION-GAINS>                                            0
<ACCUM-APPREC-OR-DEPREC>                                   43,496,750
<NET-ASSETS>                                               61,255,798
<DIVIDEND-INCOME>                                           3,170,861
<INTEREST-INCOME>                                              37,736
<OTHER-INCOME>                                                      0
<EXPENSES-NET>                                                643,925
<NET-INVESTMENT-INCOME>                                     2,564,672
<REALIZED-GAINS-CURRENT>                                    2,301,558
<APPREC-INCREASE-CURRENT>                                  (6,098,127)
<NET-CHANGE-FROM-OPS>                                      (1,231,897)
<EQUALIZATION>                                                      0
<DISTRIBUTIONS-OF-INCOME>                                   2,586,399
<DISTRIBUTIONS-OF-GAINS>                                    3,845,617
<DISTRIBUTIONS-OTHER>                                               0
<NUMBER-OF-SHARES-SOLD>                                             0
<NUMBER-OF-SHARES-REDEEMED>                                    46,981
<SHARES-REINVESTED>                                            22,537
<NET-CHANGE-IN-ASSETS>                                     (9,082,207)
<ACCUMULATED-NII-PRIOR>                                        23,477
<ACCUMULATED-GAINS-PRIOR>                                   1,285,724
<OVERDISTRIB-NII-PRIOR>                                             0
<OVERDIST-NET-GAINS-PRIOR>                                          0
<GROSS-ADVISORY-FEES>                                         371,440
<INTEREST-EXPENSE>                                                  0
<GROSS-EXPENSE>                                               643,925
<AVERAGE-NET-ASSETS>                                       67,534,454
<PER-SHARE-NAV-BEGIN>                                          107.62
<PER-SHARE-NII>                                                  4.02
<PER-SHARE-GAIN-APPREC>                                         (5.91)
<PER-SHARE-DIVIDEND>                                             4.05
<PER-SHARE-DISTRIBUTIONS>                                        6.06
<RETURNS-OF-CAPITAL>                                             0.00
<PER-SHARE-NAV-END>                                             95.62
<EXPENSE-RATIO>                                                  0.95
<AVG-DEBT-OUTSTANDING>                                              0
<AVG-DEBT-PER-SHARE>                                                0





















</TABLE>


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