U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 24F-2
Annual Notice of Securities Sold
Pursuant to Rule 24f-2
1. Name and address of issuer: Smith Barney Funds Inc.
388 Greenwich Street
New York, NY 10013
2. Name of each series or class of funds for which this
notice is filed:
Utility Portfolio - Class A, Class B, Class C and Class
Y Shares
3. Investment Company Act File Number:
811-1464
Securities Act File Number:
2-25890
4. Last day of fiscal year for which this notice is filed:
November 17,1995
5. Check box if this notice is being filed more than 180
days after the close of the issuer's fiscal year for
purposes of reporting securities sold after the close of
the fiscal year but before termination of the issuer's
24f-2 declaration:
N/A
[ ]
6. Date of termination of issuer's declaration under rule
24f-2(a)(1), if applicable (see Instruction A.6):
N/A
7. Number and amount of securities of the same class or
series which had been registered under the Securities
Act of 1933 other than pursuant to rule 24f-2 in a prior
fiscal year, but which remained unsold at the beginning
of the fiscal year:
0
8. Number and amount of securities registered during the
fiscal year other than pursuant to rule 24f-2:
0
9. Number and aggregate sale price of securities sold
during the fiscal year:
569,375 SHARES $6,778,327
10 Number and aggregate sale price of securities sold
. during the fiscal year in reliance upon registration
pursuant to rule 24f-2:
569,375 SHARES
$6,778,327
11 Number and aggregate sale price of securities issued
. during the fiscal year in connection with dividend
reinvestment plans, if applicable (see Instruction B.7):
INCLUDED IN ITEM 9
12 Calculation of registration fee:
. (i) Aggregate sale price of securities sold during
the fiscal year
in reliance on rule 24f-2 (from Item 10):
$_6,778,327_____________
(ii) Aggregate price of shares issued in connection
with dividend
reinvestment plans (from Item 11, if
applicable):
+_0____________________
(iii) Aggregate price of shares redeemed or repurchased
during the fiscal
year (if applicable):
-_6,778,327______________
(iv) Aggregate price of shares redeemed or repurchased
and
previously applied as a reduction to filing fees
pursuant
to rule 24e-2 (if applicable):
+_0_____________________
(v) Net aggregate price of securities sold and issued
during
the fiscal year in reliance on rule 24f-2 [line
(i), plus line
(ii), less line (iii), plus line (iv)] (if
applicable):
__0____________________
(vi) Multiplier prescribed by Section 6 (b) of the
Securities
Act of 1933 or other applicable law or regulation
(see
Instruction C.6):
x___1/2900_______________
(vii) Fee due [line (i) or line (v) multiplied by line
(vi)]:
__0_____________________
Instruc Issuers should complete lines (ii), (iii), (iv),
tion: and (v) only if the form is being filed within 60
days after the close of the issuer's fiscal year.
See Instruction C.3.
13 Check box if fees are being remitted to the Commission's
. lockbox depository as described in section 3a of the
Commission's Rules of Informal and Other Procedures (17
CFR 202.3a).
N/A
[ ]
Date of mailing or wire transfer of filing fees to the
Commission's lockbox depository:
SIGNATURES
This report has been signed below by the following
persons on behalf of the issuer and in the capacities
and on the dates indicated.
By (Signature and Title)*
___________________________________
_Thomas M.
Reynolds- Controller________
Date _12/22/95_
*Please print the name and title of the signing officer
below the signature.
December 22, 1995
Smith Barney Funds Inc. - Utility Portfolio
388 Greenwich Street
New York, New York 10013
Re: Rule 24f-2 Notice
Dear Sir / Madam:
In connection with the filing by Smith Barney Funds Inc.
- - Utility Portfolio, a Maryland corporation (the "Fund"), of
a Notice (the "Notice"), pursuant to Rule 24f-2 under the
Investment Company Act of 1940, as amended (the "Act"), for
the Fund's fiscal year ended November 17, 1995, the
undersigned hereby provides the legal opinion required by
that Rule.
In accordance with Rule 24f-2, the Fund has registered
an indefinite number of shares of common stock, $.01 par
value, under the Securities Act of 1933, as amended (the
"1933 Act"). The purpose of the Notice is to make definite
the registration of 569,375 shares of the Fund (the
"Shares") sold in reliance upon the Rule during the fiscal
year ended November 17, 1995.
The undersigned is Associate General Counsel of Smith
Barney Mutual Funds Management Inc., the Fund's
administrator, and in such capacity, from time to time and
for certain purposes, acts as counsel to the Fund. She has
examined copies of the Fund's Articles of Incorporation, its
By-Laws, resolutions adopted by its Board of Directors, and
such other records and documents as have been deemed
necessary for purposes of this opinion. Furthermore, she
has examined a Certificate of the Treasurer of the Fund to
the effect that the Fund received the cash consideration for
each of the Shares in accordance with the aforementioned
organizational documents and resolutions.
On the basis of the foregoing, and assuming all of the
Shares were sold in accordance with the terms of the Fund's
Prospectus in effect at the time of sale, she is of the
opinion that the Shares have been duly authorized and
validly issued and are fully paid and non-assessable. This
opinion is for the limited purposes expressed above and
should not be deemed to be an expression of opinion as to
compliance with the 1933 Act, the 1940 Act or applicable
State "blue sky" laws in connection with the sales of the
Shares.
Signed,
Nancy Le Donne
Associate General
Counsel
of Smith Barney
Mutual Funds
Management Inc.
