<PAGE> PAGE 1
000 B000000 01/31/95
000 C000000 787514
000 D000000 N
000 E000000 NF
000 F000000 Y
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000 I000000 3.0
000 J000000 A
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001 B000000 811-4551
001 C000000 6172483403
002 A000000 TWO WORLD TRADE CENTER
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10048
003 000000 N
004 000000 N
005 000000 N
006 000000 N
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007 B000000 2
007 C010100 1
007 C010200 2
007 C010300 3
007 C020300 STRATEGIC INVESTORS FUND
007 C030300 N
007 C010400 4
007 C010500 5
007 C020500 GROWTH AND INCOME FUND
007 C030500 N
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
010 A00AA01 SMITH BARNEY MUTUAL FUNDS MANAGEMENT INC.
010 B00AA01 801-84
010 C01AA01 NEW YORK
010 C02AA01 NY
010 C03AA01 10013
011 A00AA01 SMITH BARNEY INC.
011 B00AA01 8-12324
011 C01AA01 NEW YORK
011 C02AA01 NY
011 C03AA01 10048
012 A00AA01 THE SHAREHOLDER SERVICES GROUP, INC.
012 B00AA01 84-9999
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02109
<PAGE> PAGE 2
013 A00AA01 COOPERS & LYBRAND
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02110
014 A00AA01 SMITH BARNEY INC.
014 B00AA01 8-128510
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 116
019 C00AA00 SMITHBARNE
020 A000001 SMITH BARNEY, INC.
020 B000001 13-1912900
020 C000001 170
020 A000002 FIRST BOSTON CORPORATION
020 B000002 13-5659485
020 C000002 127
020 A000003 FACTSET DATA SYSTEMS, INC.
020 C000003 64
020 A000004 ROBINSON HUMPHREY
020 C000004 55
020 A000005 DEAN WITTER REYNOLDS, INC.
020 B000005 94-1671384
020 C000005 47
020 A000006 OPPENHEIMER & COMPANY, INC.
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020 A000007 LIPPER ANALYTICAL SECURITIES CORPORATION
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020 A000008 BEAR STEARNS & COMPANY, INC.
020 B000008 13-4946705
020 C000008 25
020 A000009 PRUDENTIAL SECURITIES, INC.
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020 C000009 22
020 A000010 GOLDMAN SACHS & COMPANY
020 B000010 13-5108880
020 C000010 22
021 000000 1109
022 A000001 SLOMON BROTHERS, INC.
022 B000001 13-5365580
022 C000001 4518197
022 D000001 1095
022 A000002 BANKERS TRUST COMPANY
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<PAGE> PAGE 3
022 C000002 4315698
022 D000002 0
022 A000003 UBS SECURITIES, INC.
022 B000003 13-2932996
022 C000003 4108027
022 D000003 5520
022 A000004 CITIBANK
022 B000004 13-5266470
022 C000004 4023711
022 D000004 0
022 A000005 MORGAN STANLEY & COMPANY, INC.
022 B000005 13-2655998
022 C000005 3992341
022 D000005 2284
022 A000006 BARCLAYS BANK
022 C000006 66679
022 D000006 0
022 A000007 GOLDMAN SACHS & COMPANY
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022 C000007 20994
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022 A000008 PRUDENTIAL SECURITIES, INC.
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022 D000008 19277
022 A000009 FIRST BOSTON CORPORATION
022 B000009 13-5659485
022 C000009 13022
022 D000009 17308
022 A000010 PAINE WEBBER, INC.
022 B000010 13-2638166
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022 D000010 7927
023 C000000 21260483
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037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 Y
041 00AA00 Y
049 00AA00 N
<PAGE> PAGE 4
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 N
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 Y
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 Y
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 Y
055 A00AA00 N
055 B00AA00 N
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057 00AA00 N
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060 A00AA00 Y
060 B00AA00 Y
061 00AA00 1000
077 A000000 Y
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077 C000000 Y
077 O000000 Y
078 000000 N
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
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083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
008 A000301 SMITH BARNEY STRATEGY ADVISERS, INC.
008 B000301 A
008 C000301 801-99999
008 D010301 NEW YORK
008 D020301 NY
008 D030301 10105
<PAGE> PAGE 5
008 A000302 THE BOSTON COMPANY ADVISORS, INC.
008 B000302 S
008 C000302 801-14158
008 D010302 BOSTON
008 D020302 MA
008 D030302 02108
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031 A000300 1
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034 000300 Y
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<PAGE> PAGE 6
042 E000300 0
042 F000300 0
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043 000300 3216
044 000300 0
045 000300 Y
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062 H000300 0.0
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<PAGE> PAGE 7
066 B000300 N
066 C000300 N
066 D000300 N
066 E000300 N
066 F000300 N
066 G000300 Y
067 000300 N
068 A000300 N
068 B000300 N
069 000300 N
070 A010300 Y
070 A020300 Y
070 B010300 N
070 B020300 N
070 C010300 N
070 C020300 N
070 D010300 Y
070 D020300 N
070 E010300 N
070 E020300 N
070 F010300 N
070 F020300 N
070 G010300 N
070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 N
070 K020300 N
070 L010300 Y
070 L020300 Y
070 M010300 Y
070 M020300 N
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 Y
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
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<PAGE> PAGE 8
072 B000300 10943
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<PAGE> PAGE 9
074 P000300 460
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008 A000501 SMITH BARNEY MUTUAL FUNDS MANAGEMENT, INC.
008 B000501 A
008 C000501 801-84
008 D010501 NEW YORK
008 D020501 NY
008 D030501 10013
008 A000502 DELETE
028 A010500 1376
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<PAGE> PAGE 10
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034 000500 Y
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<PAGE> PAGE 11
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066 A000500 Y
066 B000500 N
066 C000500 N
066 D000500 N
066 E000500 Y
066 F000500 N
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067 000500 N
068 A000500 N
068 B000500 N
069 000500 N
070 A010500 Y
070 A020500 Y
070 B010500 N
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<PAGE> PAGE 12
070 D010500 Y
070 D020500 N
070 E010500 Y
070 E020500 N
070 F010500 Y
070 F020500 N
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070 G020500 N
070 H010500 Y
070 H020500 N
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070 I020500 N
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070 J020500 N
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070 K020500 N
070 L010500 Y
070 L020500 Y
070 M010500 N
070 M020500 N
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070 N020500 N
070 O010500 Y
070 O020500 N
070 P010500 Y
070 P020500 N
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070 Q020500 N
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070 R020500 N
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071 B000500 219029
071 C000500 171927
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072 A000500 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
075 B000500 0
076 000500 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> 3
<NAME> SB STRATEGIC INVESTORS - CLASS A
<S> <C>
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<FISCAL-YEAR-END> JAN-31-1995
<PERIOD-END> JAN-31-1995
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<SERIES>
[NUMBER] 3
<NAME> SB STRATEGIC INVESTORS - CLASS B
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JAN-31-1995
<PERIOD-END> JAN-31-1995
[INVESTMENTS-AT-COST] 390,779,667
[INVESTMENTS-AT-VALUE] 387,523,915
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[TOTAL-ASSETS] 390,724,918
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[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 890,667
[TOTAL-LIABILITIES] 13,471,323
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 378,577,052
[SHARES-COMMON-STOCK] 13,527,240
[SHARES-COMMON-PRIOR] 18,794,896
[ACCUMULATED-NII-CURRENT] 1,378,742
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 553,553
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] (3,255,752)
[NET-ASSETS] 377,253,595
[DIVIDEND-INCOME] 4,484,747
[INTEREST-INCOME] 10,943,483
[OTHER-INCOME] 0
[EXPENSES-NET] 6,930,995
[NET-INVESTMENT-INCOME] 8,497,235
[REALIZED-GAINS-CURRENT] 13,742,008
[APPREC-INCREASE-CURRENT] (37,407,775)
[NET-CHANGE-FROM-OPS] (15,168,532)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 6,383,429
[DISTRIBUTIONS-OF-GAINS] 11,409,401
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 7,894,058
[NUMBER-OF-SHARES-REDEEMED] 14,163,327
[SHARES-REINVESTED] 1,001,613
[NET-CHANGE-IN-ASSETS] 36,223,699
[ACCUMULATED-NII-PRIOR] 1,133,571
[ACCUMULATED-GAINS-PRIOR] 3,623,336
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 2,013,080
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[GROSS-EXPENSE] 6,930,995
[AVERAGE-NET-ASSETS] 366,014,528
[PER-SHARE-NAV-BEGIN] 17.79
[PER-SHARE-NII] 0.39
[PER-SHARE-GAIN-APPREC] (1.20)
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[RETURNS-OF-CAPITAL] 0.00
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[EXPENSE-RATIO] 2.00
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
<ARTICLE> 6
<SERIES>
[NUMBER] 3
<NAME> SB STRATEGIC INVESTORS - CLASS C
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JAN-31-1995
<PERIOD-END> JAN-31-1995
[INVESTMENTS-AT-COST] 390,779,667
[INVESTMENTS-AT-VALUE] 387,523,915
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[PAYABLE-FOR-SECURITIES] 12,580,656
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[OTHER-ITEMS-LIABILITIES] 890,667
[TOTAL-LIABILITIES] 13,471,323
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 378,577,052
[SHARES-COMMON-STOCK] 123,475
[SHARES-COMMON-PRIOR] 22,424
[ACCUMULATED-NII-CURRENT] 1,378,742
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 553,553
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] (3,255,752)
[NET-ASSETS] 377,253,595
[DIVIDEND-INCOME] 4,484,747
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[REALIZED-GAINS-CURRENT] 13,742,008
[APPREC-INCREASE-CURRENT] (37,407,775)
[NET-CHANGE-FROM-OPS] (15,168,532)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 24,664
[DISTRIBUTIONS-OF-GAINS] 47,515
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 100,482
[NUMBER-OF-SHARES-REDEEMED] 3,919
[SHARES-REINVESTED] 4,488
[NET-CHANGE-IN-ASSETS] 36,223,699
[ACCUMULATED-NII-PRIOR] 1,133,571
[ACCUMULATED-GAINS-PRIOR] 3,623,336
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 2,013,080
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 6,930,995
[AVERAGE-NET-ASSETS] 366,014,528
[PER-SHARE-NAV-BEGIN] 17.79
[PER-SHARE-NII] 0.38
[PER-SHARE-GAIN-APPREC] (1.19)
[PER-SHARE-DIVIDEND] 0.35
[PER-SHARE-DISTRIBUTIONS] 0.66
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 15.97
[EXPENSE-RATIO] 1.98
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 5
<NAME> SB GROWTH AND INCOME - CLASS A
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JAN-31-1995
<PERIOD-END> JAN-31-1995
<INVESTMENTS-AT-COST> 177,371,864
<INVESTMENTS-AT-VALUE> 184,797,088
<RECEIVABLES> 2,871,976
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 105,791
<TOTAL-ASSETS> 187,774,855
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 482,642
<TOTAL-LIABILITIES> 482,642
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 179,203,728
<SHARES-COMMON-STOCK> 9,877,686
<SHARES-COMMON-PRIOR> 431,297
<ACCUMULATED-NII-CURRENT> 169,142
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 494,119
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 7,425,224
<NET-ASSETS> 187,292,213
<DIVIDEND-INCOME> 5,281,294
<INTEREST-INCOME> 876,097
<OTHER-INCOME> 0
<EXPENSES-NET> 3,379,629
<NET-INVESTMENT-INCOME> 2,777,762
<REALIZED-GAINS-CURRENT> 3,961,502
<APPREC-INCREASE-CURRENT> (14,098,390)
<NET-CHANGE-FROM-OPS> (7,359,126)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 887,487
<DISTRIBUTIONS-OF-GAINS> 1,393,249
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 10,072,728
<NUMBER-OF-SHARES-REDEEMED> 856,835
<SHARES-REINVESTED> 230,496
<NET-CHANGE-IN-ASSETS> 114,679,921
<ACCUMULATED-NII-PRIOR> 9,508
<ACCUMULATED-GAINS-PRIOR> (732,079)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 847,149
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,379,629
<AVERAGE-NET-ASSETS> 188,241,543
<PER-SHARE-NAV-BEGIN> 10.36
<PER-SHARE-NII> 0.20
<PER-SHARE-GAIN-APPREC> (0.61)
<PER-SHARE-DIVIDEND> 0.19
<PER-SHARE-DISTRIBUTIONS> 0.14
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 9.62
<EXPENSE-RATIO> 1.41
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
<ARTICLE> 6
<SERIES>
[NUMBER] 5
<NAME> SB GROWTH AND INCOME - CLASS B
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JAN-31-1995
<PERIOD-END> JAN-31-1995
[INVESTMENTS-AT-COST] 177,371,864
[INVESTMENTS-AT-VALUE] 184,797,088
[RECEIVABLES] 2,871,976
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 105,791
[TOTAL-ASSETS] 187,774,855
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 482,642
[TOTAL-LIABILITIES] 482,642
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 179,203,728
[SHARES-COMMON-STOCK] 9,553,177
[SHARES-COMMON-PRIOR] 6,564,267
[ACCUMULATED-NII-CURRENT] 169,142
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 494,119
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 7,425,224
[NET-ASSETS] 187,292,213
[DIVIDEND-INCOME] 5,281,294
[INTEREST-INCOME] 876,097
[OTHER-INCOME] 0
[EXPENSES-NET] 3,379,629
[NET-INVESTMENT-INCOME] 2,777,762
[REALIZED-GAINS-CURRENT] 3,961,502
[APPREC-INCREASE-CURRENT] (14,098,390)
[NET-CHANGE-FROM-OPS] (7,359,126)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 1,723,518
[DISTRIBUTIONS-OF-GAINS] 1,348,003
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 15,856,315
[NUMBER-OF-SHARES-REDEEMED] 13,158,120
[SHARES-REINVESTED] 290,715
[NET-CHANGE-IN-ASSETS] 114,679,921
[ACCUMULATED-NII-PRIOR] 9,508
[ACCUMULATED-GAINS-PRIOR] (732,079)
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 847,149
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 3,379,629
[AVERAGE-NET-ASSETS] 188,241,543
[PER-SHARE-NAV-BEGIN] 10.38
[PER-SHARE-NII] 0.17
[PER-SHARE-GAIN-APPREC] (0.62)
[PER-SHARE-DIVIDEND] 0.14
[PER-SHARE-DISTRIBUTIONS] 0.14
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 9.65
[EXPENSE-RATIO] 1.90
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
<ARTICLE> 6
<SERIES>
[NUMBER] 5
<NAME> SB GROWTH AND INCOME - CLASS C
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JAN-31-1995
<PERIOD-END> JAN-31-1995
[INVESTMENTS-AT-COST] 177,371,864
[INVESTMENTS-AT-VALUE] 184,797,088
[RECEIVABLES] 2,871,976
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 105,791
[TOTAL-ASSETS] 187,774,855
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 482,642
[TOTAL-LIABILITIES] 482,642
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 179,203,728
[SHARES-COMMON-STOCK] 8,857
[SHARES-COMMON-PRIOR] 1
[ACCUMULATED-NII-CURRENT] 169,142
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 494,119
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 7,425,224
[NET-ASSETS] 187,292,213
[DIVIDEND-INCOME] 5,281,294
[INTEREST-INCOME] 876,097
[OTHER-INCOME] 0
[EXPENSES-NET] 3,379,629
[NET-INVESTMENT-INCOME] 2,777,762
[REALIZED-GAINS-CURRENT] 3,961,502
[APPREC-INCREASE-CURRENT] (14,098,390)
[NET-CHANGE-FROM-OPS] (7,359,126)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 140
[DISTRIBUTIONS-OF-GAINS] 1,035
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 8,731
[NUMBER-OF-SHARES-REDEEMED] 0
[SHARES-REINVESTED] 125
[NET-CHANGE-IN-ASSETS] 114,679,921
[ACCUMULATED-NII-PRIOR] 9,508
[ACCUMULATED-GAINS-PRIOR] (732,079)
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 847,149
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 3,379,629
[AVERAGE-NET-ASSETS] 188,241,543
[PER-SHARE-NAV-BEGIN] 9.91
[PER-SHARE-NII] 0.07
[PER-SHARE-GAIN-APPREC] (0.13)
[PER-SHARE-DIVIDEND] 0.06
[PER-SHARE-DISTRIBUTIONS] 0.14
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 9.65
[EXPENSE-RATIO] 1.83
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
</TABLE>
