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

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000787514
<NAME> SMITH BARNEY EQUITY FUNDS
<SERIES>
   <NUMBER> 1
   <NAME> SMITH BARNEY STRATEGIC INVESTORS CLASS B
       
<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>                       10,433,620
<SHARES-COMMON-PRIOR>                       11,883,207
<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>                    4,954,084
<DISTRIBUTIONS-OF-GAINS>                    13,687,366
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        794,793
<NUMBER-OF-SHARES-REDEEMED>                  3,153,244
<SHARES-REINVESTED>                            908,864
<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>                       210,030,082
<PER-SHARE-NAV-BEGIN>                            19.05
<PER-SHARE-NII>                                  00.43
<PER-SHARE-GAIN-APPREC>                          01.71
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                        01.77
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              19.42
<EXPENSE-RATIO>                                  02.03
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>