[ARTICLE] 6
[CIK] 0000089558
[NAME] SMITH BARNEY APPRECIATION FUND INC. CLASS Z
<TABLE>
<S>                             <C>
[PERIOD-TYPE]                   YEAR
[FISCAL-YEAR-END]                          DEC-31-1996
[PERIOD-END]                               DEC-31-1996
[INVESTMENTS-AT-COST]                    2,492,489,191
[INVESTMENTS-AT-VALUE]                   3,501,249,314
[RECEIVABLES]                                7,680,682
[ASSETS-OTHER]                                  71,500
[OTHER-ITEMS-ASSETS]                                 0
[TOTAL-ASSETS]                           3,509,001,496
[PAYABLE-FOR-SECURITIES]                    11,287,474
[SENIOR-LONG-TERM-DEBT]                              0
[OTHER-ITEMS-LIABILITIES]                   11,285,488
[TOTAL-LIABILITIES]                         22,572,962
[SENIOR-EQUITY]                                      0
[PAID-IN-CAPITAL-COMMON]                 2,395,947,627
[SHARES-COMMON-STOCK]                       11,887,327
[SHARES-COMMON-PRIOR]                       11,029,303
[ACCUMULATED-NII-CURRENT]                            0
[OVERDISTRIBUTION-NII]                         664,282
[ACCUMULATED-NET-GAINS]                     82,385,066
[OVERDISTRIBUTION-GAINS]                             0
[ACCUM-APPREC-OR-DEPREC]                 1,008,760,123
[NET-ASSETS]                             3,486,428,534
[DIVIDEND-INCOME]                           59,369,747
[INTEREST-INCOME]                           22,572,945
[OTHER-INCOME]                                       0
[EXPENSES-NET]                              40,088,204
[NET-INVESTMENT-INCOME]                     41,854,488
[REALIZED-GAINS-CURRENT]                   272,184,030
[APPREC-INCREASE-CURRENT]                  254,549,008
[NET-CHANGE-FROM-OPS]                      568,597,526
[EQUALIZATION]                                       0
[DISTRIBUTIONS-OF-INCOME]                        2,697
[DISTRIBUTIONS-OF-GAINS]                        12,398
[DISTRIBUTIONS-OTHER]                                0
[NUMBER-OF-SHARES-SOLD]                        982,703
[NUMBER-OF-SHARES-REDEEMED]                  1,289,446
[SHARES-REINVESTED]                          1,164,767
[NET-CHANGE-IN-ASSETS]                     177,748,279
[ACCUMULATED-NII-PRIOR]                              0
[ACCUMULATED-GAINS-PRIOR]                            0
[OVERDISTRIB-NII-PRIOR]                              0
[OVERDIST-NET-GAINS-PRIOR]                           0
[GROSS-ADVISORY-FEES]                       19,615,285
[INTEREST-EXPENSE]                                   0
[GROSS-EXPENSE]                             39,774,749
[AVERAGE-NET-ASSETS]                       143,403,298
[PER-SHARE-NAV-BEGIN]                            11.91
[PER-SHARE-NII]                                  00.24
[PER-SHARE-GAIN-APPREC]                          02.09
[PER-SHARE-DIVIDEND]                             01.37
[PER-SHARE-DISTRIBUTIONS]                            0
[RETURNS-OF-CAPITAL]                                 0
[PER-SHARE-NAV-END]                              12.87
[EXPENSE-RATIO]                                  00.64
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0
</TABLE>