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<PAGE> PAGE 2
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<PAGE> PAGE 3
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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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<PAGE> PAGE 22
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SIGNATURE THOMAS M. REYNOLDS
TITLE CONTROLLER
[ARTICLE] 6
[CIK] 0000841489
[NAME] SMITH BARNEY PRINCIPAL RETURN FUND
[SERIES]
[NUMBER] 1
[NAME] SERIES 2000
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] NOV-30-1997
[PERIOD-END] MAY-31-1997
[INVESTMENTS-AT-COST] 46,685,378
[INVESTMENTS-AT-VALUE] 60,080,778
[RECEIVABLES] 204,368
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 60,285,146
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 71,555
[TOTAL-LIABILITIES] 71,555
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 42,831,638
[SHARES-COMMON-STOCK] 6,778,713
[SHARES-COMMON-PRIOR] 7,579,650
[ACCUMULATED-NII-CURRENT] 991,223
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 2,995,330
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 13,395,400
[NET-ASSETS] 60,213,591
[DIVIDEND-INCOME] 5,000
[INTEREST-INCOME] 1,366,290
[OTHER-INCOME] 0
[EXPENSES-NET] 333,659
[NET-INVESTMENT-INCOME] 1,037,631
[REALIZED-GAINS-CURRENT] 2,587,582
[APPREC-INCREASE-CURRENT] (1,781,724)
[NET-CHANGE-FROM-OPS] 1,843,489
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 0
[NUMBER-OF-SHARES-REDEEMED] 800,937
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] (5,218,486)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 407,748
[OVERDISTRIB-NII-PRIOR] (46,408)
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 125,268
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 333,659
[AVERAGE-NET-ASSETS] 62,690,975
[PER-SHARE-NAV-BEGIN] 8.63
[PER-SHARE-NII] 0.15
[PER-SHARE-GAIN-APPREC] 0.10
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 8.88
[EXPENSE-RATIO] 1.06
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000841489
[NAME] SMITH BARNEY PRINCIPAL RETURN FUND
[SERIES]
[NUMBER] 2
[NAME] SERIES 98
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] NOV-30-1997
[PERIOD-END] MAY-31-1997
[INVESTMENTS-AT-COST] 75,105,003
[INVESTMENTS-AT-VALUE] 88,767,030
[RECEIVABLES] 78,878
[ASSETS-OTHER] 199
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 88,846,107
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 84,443
[TOTAL-LIABILITIES] 84,443
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 69,463,119
[SHARES-COMMON-STOCK] 11,207
[SHARES-COMMON-PRIOR] 0
[ACCUMULATED-NII-CURRENT] 2,049,254
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 3,575,977
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 13,662,027
[NET-ASSETS] 88,761,664
[DIVIDEND-INCOME] 330,538
[INTEREST-INCOME] 2,262,546
[OTHER-INCOME] 0
[EXPENSES-NET] 431,281
[NET-INVESTMENT-INCOME] 2,161,803
[REALIZED-GAINS-CURRENT] 3,541,101
[APPREC-INCREASE-CURRENT] (1,081,024)
[NET-CHANGE-FROM-OPS] 4,621,880
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 0
[NUMBER-OF-SHARES-REDEEMED] 1,260,065
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] (9,652,950)
[ACCUMULATED-NII-PRIOR] (9,107,488)
[ACCUMULATED-GAINS-PRIOR] (5,316,894)
[OVERDISTRIB-NII-PRIOR] (122,549)
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 225,237
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 225,237
[AVERAGE-NET-ASSETS] 90,414,093
[PER-SHARE-NAV-BEGIN] 7.52
[PER-SHARE-NII] 0.19
[PER-SHARE-GAIN-APPREC] 0.21
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 7.92
[EXPENSE-RATIO] 0.96
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000841489
[NAME] SMITH BARNEY PRINCIPAL RETURN FUND
[SERIES]
[NUMBER] 4
[NAME] SECURITY AND GROWTH
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] NOV-30-1997
[PERIOD-END] MAY-31-1997
[INVESTMENTS-AT-COST] 193,067,634
[INVESTMENTS-AT-VALUE] 207,030,988
[RECEIVABLES] 519,584
[ASSETS-OTHER] 478
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 207,551,050
[PAYABLE-FOR-SECURITIES] 7,365
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 418,865
[TOTAL-LIABILITIES] 426,230
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 179,867,629
[SHARES-COMMON-STOCK] 20,082,148
[SHARES-COMMON-PRIOR] 23,868,390
[ACCUMULATED-NII-CURRENT] 2,679,075
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 10,614,762
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 13,963,354
[NET-ASSETS] 207,124,820
[DIVIDEND-INCOME] 86,000
[INTEREST-INCOME] 3,808,803
[OTHER-INCOME] 0
[EXPENSES-NET] 1,023,357
[NET-INVESTMENT-INCOME] 2,871,446
[REALIZED-GAINS-CURRENT] 8,763,961
[APPREC-INCREASE-CURRENT] (10,001,308)
[NET-CHANGE-FROM-OPS] 1,634,099
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 0
[NUMBER-OF-SHARES-REDEEMED] 3,786,242
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] (36,881,783)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 1,850,801
[OVERDISTRIB-NII-PRIOR] (192,371)
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 556,674
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 1,023,357
[AVERAGE-NET-ASSETS] 223,723,465
[PER-SHARE-NAV-BEGIN] 10.22
[PER-SHARE-NII] 00.14
[PER-SHARE-GAIN-APPREC] (0.05)
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 10.31
[EXPENSE-RATIO] 00.92
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
