[ARTICLE] 6
[CIK] 0000787514
[NAME] SMITH BARNEY EQUITY FUNDS
[SERIES]
   [NUMBER] 1
   [NAME] SMITH BARNEY STRATEGIC INVESTORS CLASS Y
<TABLE>
<S>                             <C>
[PERIOD-TYPE]                   YEAR
[FISCAL-YEAR-END]                          JAN-31-1997
[PERIOD-END]                               JAN-31-1997
[INVESTMENTS-AT-COST]                      316,471,942
[INVESTMENTS-AT-VALUE]                     380,952,703
[RECEIVABLES]                                4,769,465
[ASSETS-OTHER]                                  35,147
[OTHER-ITEMS-ASSETS]                                 0
[TOTAL-ASSETS]                             385,757,315
[PAYABLE-FOR-SECURITIES]                             0
[SENIOR-LONG-TERM-DEBT]                              0
[OTHER-ITEMS-LIABILITIES]                      945,664
[TOTAL-LIABILITIES]                            945,664
[SENIOR-EQUITY]                                      0
[PAID-IN-CAPITAL-COMMON]                   309,553,321
[SHARES-COMMON-STOCK]                            7,380
[SHARES-COMMON-PRIOR]                                0
[ACCUMULATED-NII-CURRENT]                    1,049,534
[OVERDISTRIBUTION-NII]                               0
[ACCUMULATED-NET-GAINS]                      9,728,035
[OVERDISTRIBUTION-GAINS]                             0
[ACCUM-APPREC-OR-DEPREC]                    64,480,761
[NET-ASSETS]                               384,811,651
[DIVIDEND-INCOME]                            4,048,341
[INTEREST-INCOME]                           12,499,850
[OTHER-INCOME]                                       0
[EXPENSES-NET]                               6,538,414
[NET-INVESTMENT-INCOME]                     10,009,777
[REALIZED-GAINS-CURRENT]                    29,798,572
[APPREC-INCREASE-CURRENT]                    4,059,203
[NET-CHANGE-FROM-OPS]                       43,867,552
[EQUALIZATION]                                       0
[DISTRIBUTIONS-OF-INCOME]                        3,203
[DISTRIBUTIONS-OF-GAINS]                         9,111
[DISTRIBUTIONS-OTHER]                                0
[NUMBER-OF-SHARES-SOLD]                          6,860
[NUMBER-OF-SHARES-REDEEMED]                          0
[SHARES-REINVESTED]                                520
[NET-CHANGE-IN-ASSETS]                    (19,951,345)
[ACCUMULATED-NII-PRIOR]                      1,589,330
[ACCUMULATED-GAINS-PRIOR]                    5,616,446
[OVERDISTRIB-NII-PRIOR]                              0
[OVERDIST-NET-GAINS-PRIOR]                           0
[GROSS-ADVISORY-FEES]                        2,146,284
[INTEREST-EXPENSE]                                   0
[GROSS-EXPENSE]                              2,146,284
[AVERAGE-NET-ASSETS]                           119,401
[PER-SHARE-NAV-BEGIN]                            19.00
[PER-SHARE-NII]                                  00.51
[PER-SHARE-GAIN-APPREC]                          01.69
[PER-SHARE-DIVIDEND]                                 0
[PER-SHARE-DISTRIBUTIONS]                        01.81
[RETURNS-OF-CAPITAL]                                 0
[PER-SHARE-NAV-END]                              19.39
[EXPENSE-RATIO]                                  00.90
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0
</TABLE>