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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 7
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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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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<PAGE> PAGE 31
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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<PAGE> PAGE 34
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<PAGE> PAGE 35
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<PAGE> PAGE 36
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<PAGE> PAGE 37
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<PAGE> PAGE 38
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<PAGE> PAGE 39
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<PAGE> PAGE 40
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<PAGE> PAGE 41
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<PAGE> PAGE 42
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SIGNATURE THOMAS M. REYNOLDS
TITLE CONTROLLER
[ARTICLE] 6
[CIK] 0000874835
[NAME] SMITH BARNEY SERIES FUND
[SERIES]
[NUMBER] 1
[NAME] INTERMEDIATE HIGH GRADE PORTFOLIO
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] DEC-31-1996
[PERIOD-END] DEC-31-1996
[INVESTMENTS-AT-COST] 14,601,283
[INVESTMENTS-AT-VALUE] 14,499,677
[RECEIVABLES] 262,898
[ASSETS-OTHER] 8,502
[OTHER-ITEMS-ASSETS] 19,577
[TOTAL-ASSETS] 14,790,654
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 54,293
[TOTAL-LIABILITIES] 54,293
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 14,169,225
[SHARES-COMMON-STOCK] 1,377,431,
[SHARES-COMMON-PRIOR] 1,524,359
[ACCUMULATED-NII-CURRENT] 964,989
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] (292,228)
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] (101,606)
[NET-ASSETS] 14,736,361
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 1,102,433
[OTHER-INCOME] 0
[EXPENSES-NET] 137,444
[NET-INVESTMENT-INCOME] 964,989
[REALIZED-GAINS-CURRENT] (4,603)
[APPREC-INCREASE-CURRENT] (738,535)
[NET-CHANGE-FROM-OPS] 221,851
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 109,701
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 103,151
[NUMBER-OF-SHARES-REDEEMED] 260,275
[SHARES-REINVESTED] 10,195
[NET-CHANGE-IN-ASSETS] (146,929)
[ACCUMULATED-NII-PRIOR] 1,012,045
[ACCUMULATED-GAINS-PRIOR] 137,970
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 60,847
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 137,444
[AVERAGE-NET-ASSETS] 15,203,575
[PER-SHARE-NAV-BEGIN] 10.60
[PER-SHARE-NII] 00.71
[PER-SHARE-GAIN-APPREC] (0.53)
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 00.08
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 10.70
[EXPENSE-RATIO] 00.90
[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 FUND
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] DEC-31-1996
[PERIOD-END] DEC-31-1996
[INVESTMENTS-AT-COST] 40,349,311
[INVESTMENTS-AT-VALUE] 45,419,501
[RECEIVABLES] 331,582
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 45,751,446
[PAYABLE-FOR-SECURITIES] 16,273
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 119,328
[TOTAL-LIABILITIES] 135,601
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 38,402,040
[SHARES-COMMON-STOCK] 3,507
[SHARES-COMMON-PRIOR] 4,247
[ACCUMULATED-NII-CURRENT] 2,153,889
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] (10,274)
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 5,070,190
[NET-ASSETS] 45,615,845
[DIVIDEND-INCOME] 1,726,905
[INTEREST-INCOME] 801,101
[OTHER-INCOME] 0
[EXPENSES-NET] 369,077
[NET-INVESTMENT-INCOME] 2,158,929
[REALIZED-GAINS-CURRENT] 2,077,070
[APPREC-INCREASE-CURRENT] (1,702,067)
[NET-CHANGE-FROM-OPS] 2,533,932
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 279,331
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 35,646
[NUMBER-OF-SHARES-REDEEMED] 797,407
[SHARES-REINVESTED] 21,388
[NET-CHANGE-IN-ASSETS] (6,828,423)
[ACCUMULATED-NII-PRIOR] 274,291
[ACCUMULATED-GAINS-PRIOR] (2,087,344)
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 215,308
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 369,077
[AVERAGE-NET-ASSETS] 47,697,279
[PER-SHARE-NAV-BEGIN] 12.35
[PER-SHARE-NII] 00.63
[PER-SHARE-GAIN-APPREC] 00.11
[PER-SHARE-DIVIDEND] 00.08
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 13.01
[EXPENSE-RATIO] 05.99
[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] YEAR
[FISCAL-YEAR-END] DEC-31-1996
[PERIOD-END] DEC-31-1996
[INVESTMENTS-AT-COST] 27,504,672
[INVESTMENTS-AT-VALUE] 38,657,443
[RECEIVABLES] 38,657,443
[ASSETS-OTHER] 111,222
[OTHER-ITEMS-ASSETS] 667
[TOTAL-ASSETS] 38,769,332
[PAYABLE-FOR-SECURITIES] 21,564
[SENIOR-LONG-TERM-DEBT] 174,585
[OTHER-ITEMS-LIABILITIES] 71,056
[TOTAL-LIABILITIES] 267,205
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 0
[SHARES-COMMON-STOCK] 34,858,572
[SHARES-COMMON-PRIOR] 0
[ACCUMULATED-NII-CURRENT] 2,343
[OVERDISTRIBUTION-NII] 23,892,969
[ACCUMULATED-NET-GAINS] 613,411
[OVERDISTRIBUTION-GAINS] 2,840,633
[ACCUM-APPREC-OR-DEPREC] 11,152,771
[NET-ASSETS] 38,502,127
[DIVIDEND-INCOME] 736,818
[INTEREST-INCOME] 184,351
[OTHER-INCOME] 0
[EXPENSES-NET] 306,827
[NET-INVESTMENT-INCOME] 614,342
[REALIZED-GAINS-CURRENT] 2,842,198
[APPREC-INCREASE-CURRENT] 3,230,536
[NET-CHANGE-FROM-OPS] 6,687,076
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 131,558
[NUMBER-OF-SHARES-REDEEMED] 352,087
[SHARES-REINVESTED] 3,219
[NET-CHANGE-IN-ASSETS] 3,343,941
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] (42,085)
[OVERDIST-NET-GAINS-PRIOR] (1,565)
[GROSS-ADVISORY-FEES] 0
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 306,827
[AVERAGE-NET-ASSETS] 36,806,361
[PER-SHARE-NAV-BEGIN] 13.73
[PER-SHARE-NII] 00.27
[PER-SHARE-GAIN-APPREC] 02.45
[PER-SHARE-DIVIDEND] 00.02
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 16.43
[EXPENSE-RATIO] 00.84
[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] YEAR
[FISCAL-YEAR-END] DEC-31-1996
[PERIOD-END] DEC-31-1996
[INVESTMENTS-AT-COST] 76,410,007
[INVESTMENTS-AT-VALUE] 101,446,964
[RECEIVABLES] 167,156
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 101,614,120
[PAYABLE-FOR-SECURITIES] 151,277
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 231,015
[TOTAL-LIABILITIES] 382,292
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 66,990,988
[SHARES-COMMON-STOCK] 6,384,643
[SHARES-COMMON-PRIOR] 6,568,278
[ACCUMULATED-NII-CURRENT] 1,531,228
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 7,672,655
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 25,036,957
[NET-ASSETS] 101,231,828
[DIVIDEND-INCOME] 1,814,716
[INTEREST-INCOME] 557,473
[OTHER-INCOME] 0
[EXPENSES-NET] 828,170
[NET-INVESTMENT-INCOME] 1,544,019
[REALIZED-GAINS-CURRENT] 7,668,200
[APPREC-INCREASE-CURRENT] 8,004,471
[NET-CHANGE-FROM-OPS] 17,216,690
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 1,469,949
[DISTRIBUTIONS-OF-GAINS] 6,744,126
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 400,926
[NUMBER-OF-SHARES-REDEEMED] 1,094,435
[SHARES-REINVESTED] 509,874
[NET-CHANGE-IN-ASSETS] 6,740,000
[ACCUMULATED-NII-PRIOR] 1,457,158
[ACCUMULATED-GAINS-PRIOR] 6,748,581
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 536,120
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 828,170
[AVERAGE-NET-ASSETS] 97,228,369
[PER-SHARE-NAV-BEGIN] 14.39
[PER-SHARE-NII] 00.27
[PER-SHARE-GAIN-APPREC] 02.60
[PER-SHARE-DIVIDEND] 00.25
[PER-SHARE-DISTRIBUTIONS] 01.15
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 15.86
[EXPENSE-RATIO] 01.72
[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] YEAR
[FISCAL-YEAR-END] DEC-31-1996
[PERIOD-END] DEC-31-1996
[INVESTMENTS-AT-COST] 150,578,176
[INVESTMENTS-AT-VALUE] 171,337,648
[RECEIVABLES] 423,650
[ASSETS-OTHER] 6,345
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 171,767,643
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 264,244
[TOTAL-LIABILITIES] 264,244
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 139,057,985
[SHARES-COMMON-STOCK] 10,899,666
[SHARES-COMMON-PRIOR] 6,123,389
[ACCUMULATED-NII-CURRENT] 3,944,080
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 7,741,862
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 20,759,472
[NET-ASSETS] 171,503,399
[DIVIDEND-INCOME] 3,411,639
[INTEREST-INCOME] 1,295,906
[OTHER-INCOME] 0
[EXPENSES-NET] 996,969
[NET-INVESTMENT-INCOME] 3,710,576
[REALIZED-GAINS-CURRENT] 8,063,440
[APPREC-INCREASE-CURRENT] 16,541,648
[NET-CHANGE-FROM-OPS] 28,315,664
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 744,542
[DISTRIBUTIONS-OF-GAINS] 1,914,537
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 70,721,239
[NUMBER-OF-SHARES-REDEEMED] 5,576,476
[SHARES-REINVESTED] 2,659,079
[NET-CHANGE-IN-ASSETS] 93,490,427
[ACCUMULATED-NII-PRIOR] 978,046
[ACCUMULATED-GAINS-PRIOR] 1,592,959
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 665,417
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 996,969
[AVERAGE-NET-ASSETS] 121,155,295
[PER-SHARE-NAV-BEGIN] 12.75
[PER-SHARE-NII] 03.06
[PER-SHARE-GAIN-APPREC] 00.17
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 00.25
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 15.73
[EXPENSE-RATIO] 00.83
[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] YEAR
[FISCAL-YEAR-END] DEC-31-1996
[PERIOD-END] DEC-31-1996
[INVESTMENTS-AT-COST] 13,862
[INVESTMENTS-AT-VALUE] 18,812
[RECEIVABLES] 166
[ASSETS-OTHER] 31
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 19,009
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 108
[TOTAL-LIABILITIES] 108
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 11,675
[SHARES-COMMON-STOCK] 1,194
[SHARES-COMMON-PRIOR] 1,269
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (1)
[ACCUMULATED-NET-GAINS] 2,277
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 4,950
[NET-ASSETS] 18,901
[DIVIDEND-INCOME] 68
[INTEREST-INCOME] 52
[OTHER-INCOME] 0
[EXPENSES-NET] 241
[NET-INVESTMENT-INCOME] (121)
[REALIZED-GAINS-CURRENT] 2
[APPREC-INCREASE-CURRENT] 935
[NET-CHANGE-FROM-OPS] 3,091
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 446
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 139
[NUMBER-OF-SHARES-REDEEMED] 244
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] 3,090
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 142
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 142
[AVERAGE-NET-ASSETS] 18,999
[PER-SHARE-NAV-BEGIN] 13.76
[PER-SHARE-NII] (0.10)
[PER-SHARE-GAIN-APPREC] 02.55
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 00.38
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 15.83
[EXPENSE-RATIO] 01.27
[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 FUND
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] DEC-31-1996
[PERIOD-END] DEC-31-1996
[INVESTMENTS-AT-COST] 13,277,032
[INVESTMENTS-AT-VALUE] 19,376,438
[RECEIVABLES] 36,220
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 19,412,658
[PAYABLE-FOR-SECURITIES] 15,147
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 139,703
[TOTAL-LIABILITIES] 154,850
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 12,293,575
[SHARES-COMMON-STOCK] 1,048,910
[SHARES-COMMON-PRIOR] 977,601
[ACCUMULATED-NII-CURRENT] 233,583
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 630,505
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 6,100,145
[NET-ASSETS] 19,257,808
[DIVIDEND-INCOME] 356,888
[INTEREST-INCOME] 61,054
[OTHER-INCOME] 0
[EXPENSES-NET] 181,902
[NET-INVESTMENT-INCOME] 236,040
[REALIZED-GAINS-CURRENT] 639,818
[APPREC-INCREASE-CURRENT] 2,569,432
[NET-CHANGE-FROM-OPS] 3,445,290
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 215,955
[NUMBER-OF-SHARES-REDEEMED] 157,107
[SHARES-REINVESTED] 12,461
[NET-CHANGE-IN-ASSETS] 4,027,589
[ACCUMULATED-NII-PRIOR] 231,185
[ACCUMULATED-GAINS-PRIOR] 376,704
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 69,030
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 181,902
[AVERAGE-NET-ASSETS] 17,221,258
[PER-SHARE-NAV-BEGIN] 15.58
[PER-SHARE-NII] 00.22
[PER-SHARE-GAIN-APPREC] 03.17
[PER-SHARE-DIVIDEND] 00.23
[PER-SHARE-DISTRIBUTIONS] 00.38
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 18.36
[EXPENSE-RATIO] 01.06
[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 PORTFOLIO
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] DEC-31-1996
[PERIOD-END] DEC-31-1996
[INVESTMENTS-AT-COST] 5,997,977
[INVESTMENTS-AT-VALUE] 5,997,977
[RECEIVABLES] 25,038
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 6,023,015
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 135,107
[TOTAL-LIABILITIES] 135,107
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 5,887,908
[SHARES-COMMON-STOCK] 5,887,908
[SHARES-COMMON-PRIOR] 5,653,270
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 0
[NET-ASSETS] 5,887,908
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 325,237
[OTHER-INCOME] 0
[EXPENSES-NET] 44,793
[NET-INVESTMENT-INCOME] 280,444
[REALIZED-GAINS-CURRENT] 0
[APPREC-INCREASE-CURRENT] 0
[NET-CHANGE-FROM-OPS] 280,444
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 280,444
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 4,806,909
[NUMBER-OF-SHARES-REDEEMED] 4,856,413
[SHARES-REINVESTED] 284,142
[NET-CHANGE-IN-ASSETS] 234,638
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 17,904
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 74,623
[AVERAGE-NET-ASSETS] 5,968,095
[PER-SHARE-NAV-BEGIN] 1.00
[PER-SHARE-NII] 0.047
[PER-SHARE-GAIN-APPREC] 0
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0.047
[RETURNS-OF-CAPITAL] 1.00
[PER-SHARE-NAV-END] 0.75
[EXPENSE-RATIO] 0
[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
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] DEC-31-1996
[PERIOD-END] DEC-31-1996
[INVESTMENTS-AT-COST] 22,927,395
[INVESTMENTS-AT-VALUE] 32,818,112
[RECEIVABLES] 24,396
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 604,472
[TOTAL-ASSETS] 33,446,980
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 0
[TOTAL-LIABILITIES] 109,924
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 26,732,371
[SHARES-COMMON-STOCK] 2,762,236
[SHARES-COMMON-PRIOR] 2,905,098
[ACCUMULATED-NII-CURRENT] (120,083)
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] (3,091,336)
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 9,816,104
[NET-ASSETS] 0
[DIVIDEND-INCOME] 349,531
[INTEREST-INCOME] 20,466
[OTHER-INCOME] 0
[EXPENSES-NET] 436,049
[NET-INVESTMENT-INCOME] (660,052)
[REALIZED-GAINS-CURRENT] (499,758)
[APPREC-INCREASE-CURRENT] 6,756,136
[NET-CHANGE-FROM-OPS] 6,190,326
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 118,973
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 2,716,330
[NUMBER-OF-SHARES-REDEEMED] 4,548,187
[SHARES-REINVESTED] 118,973
[NET-CHANGE-IN-ASSETS] 4,358,469
[ACCUMULATED-NII-PRIOR] (11,017)
[ACCUMULATED-GAINS-PRIOR] (2,515,619)
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 343,557
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 442,169
[AVERAGE-NET-ASSETS] 32,731,510
[PER-SHARE-NAV-BEGIN] 09.98
[PER-SHARE-NII] 02.13
[PER-SHARE-GAIN-APPREC] 0
[PER-SHARE-DIVIDEND] 00.04
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 12.07
[EXPENSE-RATIO] 01.35
[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
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] DEC-31-1996
[PERIOD-END] DEC-31-1996
[INVESTMENTS-AT-COST] 56,555,704
[INVESTMENTS-AT-VALUE] 58,605,133
[RECEIVABLES] 1,138,806
[ASSETS-OTHER] 124,359
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 59,619,580
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 104,725
[TOTAL-LIABILITIES] 104,725
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 53,085,816
[SHARES-COMMON-STOCK] 5,418,831
[SHARES-COMMON-PRIOR] 5,927,337
[ACCUMULATED-NII-CURRENT] 5,164,422
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] (855,469)
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 2,120,086
[NET-ASSETS] 59,514,855
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 5,048,505
[OTHER-INCOME] 0
[EXPENSES-NET] 495,789
[NET-INVESTMENT-INCOME] 4,697,494
[REALIZED-GAINS-CURRENT] 1,216,193
[APPREC-INCREASE-CURRENT] 356,725
[NET-CHANGE-FROM-OPS] 1,572,918
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 788,174
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 1,867,892
[NUMBER-OF-SHARES-REDEEMED] 8,240,160
[SHARES-REINVESTED] 1,0859,349
[NET-CHANGE-IN-ASSETS] 199,319
[ACCUMULATED-NII-PRIOR] 601,146
[ACCUMULATED-GAINS-PRIOR] (1,608,501)
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 384,695
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 495,789
[AVERAGE-NET-ASSETS] 59,184,989
[PER-SHARE-NAV-BEGIN] 10.01
[PER-SHARE-NII] 01.12
[PER-SHARE-GAIN-APPREC] 0
[PER-SHARE-DIVIDEND] 00.15
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 10.98
[EXPENSE-RATIO] 00.84
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
