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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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<PAGE> PAGE 30
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SIGNATURE THOMAS M. REYNOLDS
TITLE CONTROLLER
[ARTICLE] 6
[CIK] 0000874835
[NAME] SMITH BARNEY SERIES FUND INC.
[SERIES]
[NUMBER] 1
[NAME] INTERMEDIATE HIGH GRADE
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1996
[PERIOD-END] JUN-30-1996
[INVESTMENTS-AT-COST] 14,904,361
[INVESTMENTS-AT-VALUE] 14,667,862
[RECEIVABLES] 304,651
[ASSETS-OTHER] 976
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 14,973,489
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 22,679
[TOTAL-LIABILITIES] 22,679
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 14,936,324
[SHARES-COMMON-STOCK] 1,450,135
[SHARES-COMMON-PRIOR] 1,524,360
[ACCUMULATED-NII-CURRENT] 600,672
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] (349,687)
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] (236,499)
[NET-ASSETS] 14,950,810
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 561,550
[OTHER-INCOME] 0
[EXPENSES-NET] 70,596
[NET-INVESTMENT-INCOME] 494,991
[REALIZED-GAINS-CURRENT] (62,063)
[APPREC-INCREASE-CURRENT] (873,428)
[NET-CHANGE-FROM-OPS] (440,500)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 68,463
[NUMBER-OF-SHARES-REDEEMED] 142,688
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] (1,201,611)
[ACCUMULATED-NII-PRIOR] 105,681
[ACCUMULATED-GAINS-PRIOR] (287,624)
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 30,960
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 70,596
[AVERAGE-NET-ASSETS] 15,573,260
[PER-SHARE-NAV-BEGIN] 10.60
[PER-SHARE-NII] 00.33
[PER-SHARE-GAIN-APPREC] (0.62)
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 10.31
[EXPENSE-RATIO] 00.86
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000874835
[NAME] SMITH BARNEY SERIES FUND
[SERIES]
[NUMBER] 2
[NAME] EQUITY INCOME
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1996
[PERIOD-END] JUN-30-1996
[INVESTMENTS-AT-COST] 43,383,244
[INVESTMENTS-AT-VALUE] 48,656,240
[RECEIVABLES] 802,855
[ASSETS-OTHER] 670
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 49,449,765
[PAYABLE-FOR-SECURITIES] 686,875
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 149,704
[TOTAL-LIABILITIES] 836,579
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 43,215,477
[SHARES-COMMON-STOCK] 3,894,600
[SHARES-COMMON-PRIOR] 4,246,956
[ACCUMULATED-NII-CURRENT] 1,355,414
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] (1,220,701)
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 5,262,996
[NET-ASSETS] 48,613,186
[DIVIDEND-INCOME] 897,313
[INTEREST-INCOME] 407,424
[OTHER-INCOME] (952)
[EXPENSES-NET] 222,662
[NET-INVESTMENT-INCOME] 1,081,123
[REALIZED-GAINS-CURRENT] 866,643
[APPREC-INCREASE-CURRENT] (1,509,261)
[NET-CHANGE-FROM-OPS] 438,505
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 14,435
[NUMBER-OF-SHARES-REDEEMED] 366,791
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] (3,831,082)
[ACCUMULATED-NII-PRIOR] 274,291
[ACCUMULATED-GAINS-PRIOR] (2,087,344)
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 110,940
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 222,662
[AVERAGE-NET-ASSETS] 49,421,953
[PER-SHARE-NAV-BEGIN] 12.35
[PER-SHARE-NII] 00.28
[PER-SHARE-GAIN-APPREC] (0.15)
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 12.45
[EXPENSE-RATIO] 00.91
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000874835
[NAME] SMITH BARNEY SERIES FUND
[SERIES]
[NUMBER] 3
[NAME] GROWTH AND INCOME
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1996
[PERIOD-END] JUN-30-1996
[INVESTMENTS-AT-COST] 26,539,074
[INVESTMENTS-AT-VALUE] 36,981,349
[RECEIVABLES] 114,592
[ASSETS-OTHER] 325
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 114,917
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 0
[TOTAL-LIABILITIES] 50,933
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 25,708,223
[SHARES-COMMON-STOCK] 2,460
[SHARES-COMMON-PRIOR] 2,560
[ACCUMULATED-NII-CURRENT] 331,878
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 560,487
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 10,442,275
[NET-ASSETS] 37,045,333
[DIVIDEND-INCOME] 96,540
[INTEREST-INCOME] 362,958
[OTHER-INCOME] 0
[EXPENSES-NET] 180,341
[NET-INVESTMENT-INCOME] 279,157
[REALIZED-GAINS-CURRENT] 562,063
[APPREC-INCREASE-CURRENT] 2,520,040
[NET-CHANGE-FROM-OPS] 3,361,260
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 46,703
[NUMBER-OF-SHARES-REDEEMED] 148,582
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] 1,887,147
[ACCUMULATED-NII-PRIOR] 679,667
[ACCUMULATED-GAINS-PRIOR] 421,958
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 117,978
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 180,341
[AVERAGE-NET-ASSETS] 35,815,522
[PER-SHARE-NAV-BEGIN] 13.73
[PER-SHARE-NII] 00.11
[PER-SHARE-GAIN-APPREC] 01.23
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 15.07
[EXPENSE-RATIO] 01.01
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000874835
[NAME] SMITH BARNEY SERIES FUND
[SERIES]
[NUMBER] 4
[NAME] APPRECIATION
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1996
[PERIOD-END] JUN-30-1996
[INVESTMENTS-AT-COST] 82,085,450
[INVESTMENTS-AT-VALUE] 88,118,237
[RECEIVABLES] 265,001
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 12,935,788
[TOTAL-ASSETS] 101,319,026
[PAYABLE-FOR-SECURITIES] 1,226,572
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 279,960
[TOTAL-LIABILITIES] 1,506,532
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 66,648,472
[SHARES-COMMON-STOCK] 6,394,596
[SHARES-COMMON-PRIOR] 6,577,637
[ACCUMULATED-NII-CURRENT] 2,214,506
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 11,981,729
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 18,967,787
[NET-ASSETS] 99,812,494
[DIVIDEND-INCOME] 929,193
[INTEREST-INCOME] 263,368
[OTHER-INCOME] 0
[EXPENSES-NET] 426,965
[NET-INVESTMENT-INCOME] 757,348
[REALIZED-GAINS-CURRENT] 5,233,148
[APPREC-INCREASE-CURRENT] 1,935,301
[NET-CHANGE-FROM-OPS] 7,168,449
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 1,410,859
[DISTRIBUTIONS-OF-GAINS] 1,392,571
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 130,926
[NUMBER-OF-SHARES-REDEEMED] 304,608
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] 5,320,666
[ACCUMULATED-NII-PRIOR] 1,457,158
[ACCUMULATED-GAINS-PRIOR] 6,748,581
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 267,665
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 267,665
[AVERAGE-NET-ASSETS] 97,628,660
[PER-SHARE-NAV-BEGIN] 14.39
[PER-SHARE-NII] 00.12
[PER-SHARE-GAIN-APPREC] 01.10
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 15.61
[EXPENSE-RATIO] 00.88
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000874835
[NAME] SMITH BARNEY SERIES FUND
[SERIES]
[NUMBER] 5
[NAME] TOTAL RETURN
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1996
[PERIOD-END] JUN-30-1996
[INVESTMENTS-AT-COST] 111,220,726
[INVESTMENTS-AT-VALUE] 121,024,963
[RECEIVABLES] 2,816,119
[ASSETS-OTHER] 8,502
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 123,849,584
[PAYABLE-FOR-SECURITIES] 2,500,000
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 287,650
[TOTAL-LIABILITIES] 2,787,650
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 103,422,083
[SHARES-COMMON-STOCK] 8,467,853
[SHARES-COMMON-PRIOR] 0
[ACCUMULATED-NII-CURRENT] 3,025,568
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 4,739,648
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 9,874,635
[NET-ASSETS] 121,061,934
[DIVIDEND-INCOME] 1,298,546
[INTEREST-INCOME] 565,685
[OTHER-INCOME] 0
[EXPENSES-NET] 431,622
[NET-INVESTMENT-INCOME] 1,432,609
[REALIZED-GAINS-CURRENT] 3,761,602
[APPREC-INCREASE-CURRENT] 5,656,811
[NET-CHANGE-FROM-OPS] 10,851,022
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 2,470,965
[NUMBER-OF-SHARES-REDEEMED] 126,501
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] 43,018,962
[ACCUMULATED-NII-PRIOR] 1,592,959
[ACCUMULATED-GAINS-PRIOR] 978,046
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 276,133
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 431,622
[AVERAGE-NET-ASSETS] 101,029
[PER-SHARE-NAV-BEGIN] 12.75
[PER-SHARE-NII] 00.10
[PER-SHARE-GAIN-APPREC] 01.45
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 14.30
[EXPENSE-RATIO] 00.86
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000874835
[NAME] SMITH BARNEY SERIES FUND
[SERIES]
[NUMBER] 6
[NAME] EMERGING GROWTH
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1996
[PERIOD-END] JUN-30-1996
[INVESTMENTS-AT-COST] 13,836,468
[INVESTMENTS-AT-VALUE] 19,931,009
[RECEIVABLES] 65,737
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 46,708
[TOTAL-ASSETS] 20,043,454
[PAYABLE-FOR-SECURITIES] 23,044
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 67,156
[TOTAL-LIABILITIES] 90,200
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 12,410,130
[SHARES-COMMON-STOCK] 1,230,725
[SHARES-COMMON-PRIOR] 1,269,217
[ACCUMULATED-NII-CURRENT] (53,218)
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 1,500,570
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 2,079,237
[NET-ASSETS] 19,953,254
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 0
[OTHER-INCOME] 0
[EXPENSES-NET] 113,046
[NET-INVESTMENT-INCOME] (53,218)
[REALIZED-GAINS-CURRENT] 1,054,757
[APPREC-INCREASE-CURRENT] 2,079,237
[NET-CHANGE-FROM-OPS] 3,080,776
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 78,406
[NUMBER-OF-SHARES-REDEEMED] 116,898
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] (38,492)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 0
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 0
[AVERAGE-NET-ASSETS] 0
[PER-SHARE-NAV-BEGIN] 13.76
[PER-SHARE-NII] (0.04)
[PER-SHARE-GAIN-APPREC] 02.49
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 16.21
[EXPENSE-RATIO] 01.21
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000874835
[NAME] SMITH BARNEY SERIES FUND
[SERIES]
[NUMBER] 7
[NAME] EQUITY INDEX
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1996
[PERIOD-END] JUN-30-1996
[INVESTMENTS-AT-COST] 12,344,382
[INVESTMENTS-AT-VALUE] 17,079,382
[RECEIVABLES] 24,708
[ASSETS-OTHER] 987
[OTHER-ITEMS-ASSETS] 5,625
[TOTAL-ASSETS] 17,110,702
[PAYABLE-FOR-SECURITIES] 12,887
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 74,671
[TOTAL-LIABILITIES] 87,558
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 11,416,792
[SHARES-COMMON-STOCK] 997,504
[SHARES-COMMON-PRIOR] 0
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 4,735,000
[NET-ASSETS] 17,023,144
[DIVIDEND-INCOME] 170,966
[INTEREST-INCOME] 28,679
[OTHER-INCOME] (1,360)
[EXPENSES-NET] 89,375
[NET-INVESTMENT-INCOME] 108,910
[REALIZED-GAINS-CURRENT] 157,759
[APPREC-INCREASE-CURRENT] 1,201,081
[NET-CHANGE-FROM-OPS] 1,467,750
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 82,643
[NUMBER-OF-SHARES-REDEEMED] 62,740
[SHARES-REINVESTED] 19,903
[NET-CHANGE-IN-ASSETS] 376,704
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 376,704
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 32,588
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 89,375
[AVERAGE-NET-ASSETS] 16,348,560
[PER-SHARE-NAV-BEGIN] 15.58
[PER-SHARE-NII] 00.11
[PER-SHARE-GAIN-APPREC] 01.37
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 17.07
[EXPENSE-RATIO] 01.10
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000874835
[NAME] SMITH BARNEY SERIES FUND
[SERIES]
[NUMBER] 8
[NAME] MONEY MARKET
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1996
[PERIOD-END] JUN-30-1996
[INVESTMENTS-AT-COST] 5,846,315
[INVESTMENTS-AT-VALUE] 5,846,315
[RECEIVABLES] 6,051
[ASSETS-OTHER] 414
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 5,852,780
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 12,318
[TOTAL-LIABILITIES] 12,318
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 5,840,462
[SHARES-COMMON-STOCK] 5,840,462
[SHARES-COMMON-PRIOR] 5,653,278
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 0
[NET-ASSETS] 5,840,462
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 163,313
[OTHER-INCOME] 0
[EXPENSES-NET] 22,552
[NET-INVESTMENT-INCOME] 140,761
[REALIZED-GAINS-CURRENT] 0
[APPREC-INCREASE-CURRENT] 0
[NET-CHANGE-FROM-OPS] 140,761
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 2,337,078
[NUMBER-OF-SHARES-REDEEMED] 2,296,523
[SHARES-REINVESTED] 146,637
[NET-CHANGE-IN-ASSETS] 187,192
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 15,034
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 37,584
[AVERAGE-NET-ASSETS] 6,043,980
[PER-SHARE-NAV-BEGIN] 1.00
[PER-SHARE-NII] 0.02
[PER-SHARE-GAIN-APPREC] 0
[PER-SHARE-DIVIDEND] 0.02
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 1.00
[EXPENSE-RATIO] 0.75
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000874835
[NAME] SMITH BARNEY SERIES FUND
[SERIES]
[NUMBER] 9
[NAME] INTERNATIONAL EQUITY PORTFOLIO
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1996
[PERIOD-END] JUN-30-1996
[INVESTMENTS-AT-COST] 25,790,639
[INVESTMENTS-AT-VALUE] 33,521,813
[RECEIVABLES] 80,239
[ASSETS-OTHER] 9,386
[OTHER-ITEMS-ASSETS] 1,025,111
[TOTAL-ASSETS] 34,636,549
[PAYABLE-FOR-SECURITIES] 521,367
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 100,817
[TOTAL-LIABILITIES] 622,184
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 29,108,150
[SHARES-COMMON-STOCK] 2,967,873
[SHARES-COMMON-PRIOR] 2,905,098
[ACCUMULATED-NII-CURRENT] 29,029
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] 2,851,415
[ACCUM-APPREC-OR-DEPREC] 7,728,601
[NET-ASSETS] 34,014,365
[DIVIDEND-INCOME] 232,777
[INTEREST-INCOME] 18,602
[OTHER-INCOME] 0
[EXPENSES-NET] 209,281
[NET-INVESTMENT-INCOME] 42,098
[REALIZED-GAINS-CURRENT] (337,848)
[APPREC-INCREASE-CURRENT] 4,668,633
[NET-CHANGE-FROM-OPS] 4,372,883
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 2,314,452
[NUMBER-OF-SHARES-REDEEMED] 1,651,557
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] 5,035,778
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 11,017
[OVERDIST-NET-GAINS-PRIOR] 2,515,619
[GROSS-ADVISORY-FEES] 136,368
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 214,520
[AVERAGE-NET-ASSETS] 32,290,379
[PER-SHARE-NAV-BEGIN] 09.98
[PER-SHARE-NII] 00.01
[PER-SHARE-GAIN-APPREC] 01.47
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 11.46
[EXPENSE-RATIO] 01.36
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000874835
[NAME] SMITH BARNEY SERIES FUND
[SERIES]
[NUMBER] 10
[NAME] DIVERSIFIED STRATEGIC INCOME PORTFOLIO
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1996
[PERIOD-END] JUN-30-1996
[INVESTMENTS-AT-COST] 58,205,157
[INVESTMENTS-AT-VALUE] 59,203,790
[RECEIVABLES] 1,587,905
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 452,234
[TOTAL-ASSETS] 61,243,929
[PAYABLE-FOR-SECURITIES] 2,086,927
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 128,962
[TOTAL-LIABILITIES] 2,215,889
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 56,248,756
[SHARES-COMMON-STOCK] 5,719,095
[SHARES-COMMON-PRIOR] 5,927,337
[ACCUMULATED-NII-CURRENT] 3,090,700
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] 1,297,109
[ACCUM-APPREC-OR-DEPREC] 985,693
[NET-ASSETS] 59,028,040
[DIVIDEND-INCOME] 93,513
[INTEREST-INCOME] 2,203,958
[OTHER-INCOME] 0
[EXPENSES-NET] 266,272
[NET-INVESTMENT-INCOME] 2,031,199
[REALIZED-GAINS-CURRENT] 578,952
[APPREC-INCREASE-CURRENT] (777,668)
[NET-CHANGE-FROM-OPS] 1,832,483
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 1,439,852
[NUMBER-OF-SHARES-REDEEMED] 3,559,832
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] (287,497)
[ACCUMULATED-NII-PRIOR] 791,941
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 1,608,501
[GROSS-ADVISORY-FEES] 133,263
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 266,272
[AVERAGE-NET-ASSETS] 59,552,736
[PER-SHARE-NAV-BEGIN] 10.01
[PER-SHARE-NII] 00.39
[PER-SHARE-GAIN-APPREC] (0.08)
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 10.32
[EXPENSE-RATIO] 00.89
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
