FORM 10-Q

                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                 (X) QUARTERLY REPORT UNDER SECTION 13 or 15(d)

                     OF THE SECURITIES EXCHANGE ACT OF 1934

               OR ( ) TRANSITION REPORT UNDER SECTION 13 or 15(d)

                     OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarter ended June 30, 2000

Commission File Number 333-61961

            SALOMON SMITH BARNEY GLOBAL DIVERSIFIED FUTURES FUND L.P.
             (Exact name of registrant as specified in its charter)

      New York                                13-4015586
(State or other jurisdiction of              (I.R.S. Employer
 incorporation or organization)               Identification No.)


                     c/o Smith Barney Futures Management LLC
                           388 Greenwich St. - 7th Fl.
                            New York, New York 10013
              (Address and Zip Code of principal executive offices)


                                 (212) 723-5424
              (Registrant's telephone number, including area code)
        ----------------------------------------------------------------


Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days.
                                      Yes   X    No

<PAGE>



            SALOMON SMITH BARNEY GLOBAL DIVERSIFIED FUTURES FUND L.P.
                                    FORM 10-Q
                                      INDEX

                                                                     Page
                                                                     Number
PART I - Financial Information:

              Item 1.      Financial Statements:

                           Statement of Financial Condition
                           at June 30, 2000 and December 31,
                           1999 (unaudited).                               3

                           Statement  of  Income  and  Expenses
                           and   Partners' Capital for the three
                           months ended June 30, 2000 and
                           1999,  the six months ended June 30,
                           2000 and for the period from February
                           2, 1999 (commencement of trading
                           operations) to June 30,
                           1999 (unaudited).                               4

                           Notes to Financial Statements
                           (unaudited)                                   5 - 9

              Item 2.      Management's Discussion and
                           Analysis of Financial Condition
                           and Results of Operations                    10 - 11

              Item 3.      Quantitative and Qualitative
                           Disclosures of Market Risk                   12 - 13

PART II - Other Information                                             14 - 17

                                       2
<PAGE>

                                     PART I
                          ITEM 1. FINANCIAL STATEMENTS


           SALOMON SMITH BARNEY GLOBAL DIVERSIFIED FUTURES FUND L.P.
                        STATEMENT OF FINANCIAL CONDITION
                                  (UNAUDITED)

<TABLE>
<CAPTION>


                                                     JUNE 30,                   DECEMBER 31,
                                                       2000                         1999
                                                 ------------------          --------------------
                                                 ------------------          --------------------
<S>                                                    <C>                            <C>

ASSETS:

Equity in commodity futures trading account:
  Cash                                                $ 62,627,749                  $ 85,369,042
  Net unrealized appreciation
   on open futures contracts                               570,508                     3,293,682
Commodity options owned, at market value
  (cost $0 and $242,328  in 2000
  and 1999, respectively)                                        -                       105,484
                                                 ------------------          --------------------
                                                        63,198,257                    88,768,208

Interest receivable                                        212,094                       297,001
                                                 ------------------          --------------------

                                                      $ 63,410,351                  $ 89,065,209
                                                 ==================          ====================

LIABILITIES AND PARTNERS' CAPITAL:

Liabilities:
 Accrued expenses:
  Commissions                                            $ 280,529                     $ 411,280
  Management fees                                          103,126                       147,997
  Incentive fees                                                 -                       213,409
  Professional Fees                                              -                             -
  Other                                                     94,671                       203,962
  Due to SSB                                               250,155                       434,877
Redemptions                                              1,887,270                       565,176
                                                 ------------------          --------------------
                                                         2,615,751                     1,976,701

Partners' Capital:

General Partner, 1,067.4488 and 941.9704 Unit
   equivalents outstanding in 2000 and
   1999, respectively                                      952,026                       895,767
Limited Partners, 67,097.5492 and 90,639.0308
   Units of Limited Partnership Interest
   outstanding in 2000 and 1999, respectively           59,842,574                    86,192,741
                                                 ------------------          --------------------


                                                        60,794,600                    87,088,508
                                                 ------------------          --------------------


                                                      $ 63,410,351                  $ 89,065,209
                                                 ==================          ====================

</TABLE>

See Notes to Financial Statements.

                                       3



<PAGE>

            SALOMON SMITH BARNEY GLOBAL DIVERSIFIED FUTURES FUND L.P.
             STATEMENT OF INCOME AND EXPENSES AND PARTNERS' CAPITAL
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                                                       PERIOD FROM
                                                                                                     FEBRUARY 2, 1999,
                                                                                                     (COMMEMCEMENT OF
                                                                                                    TRADING OPERATIONS)
                                                     THREE MONTHS ENDED          SIX MONTHS ENDED            TO
                                                          JUNE 30,                   JUNE 30,             JUNE 30,
                                                 --------------  -------------  ------------------   ------------------
                                                     2000            1999            2000                   1999

                                                 --------------  -------------  ------------------   ------------------
<S>                                                    <C>           <C>              <C>                  <C>
Income:
  Net gains (losses) on trading of commodity
   interests:
  Realized losses on closed positions             $ (1,854,578)  $ (1,130,692)       $ (1,537,858)        $ (1,616,178)
  Change in unrealized gains (losses) on open
   positions                                           149,506      1,102,620          (2,586,330)           1,946,310

                                                 --------------  -------------  ------------------   ------------------

                                                    (1,705,072)       (28,072)         (4,124,188)             330,132
Less, brokerage commissions including clearing
 feesof $26,370, $22,197 and $59,955,
 $30,122, respectively                              (1,025,886)      (718,610)         (2,320,429)          (1,049,382)

                                                 --------------  -------------  ------------------   ------------------

  Net realized and unrealized losses                (2,730,958)      (746,682)         (6,444,617)            (719,250)
  Interest income                                      759,287        426,122           1,687,064              617,244

                                                 --------------  -------------  ------------------   ------------------

                                                    (1,971,671)      (320,560)         (4,757,553)            (102,006)

                                                 --------------  -------------  ------------------   ------------------


Expenses:
  Management fees                                      346,484        242,398             791,200              348,439
  Other expenses                                        11,841         40,451              62,162              767,106
  Incentive fees                                             -        114,175             (62,088)             158,285

                                                 --------------  -------------  ------------------   ------------------

                                                       358,325        397,024             791,274            1,273,830

                                                 --------------  -------------  ------------------   ------------------

  Net loss                                          (2,329,996)      (717,584)         (5,548,827)          (1,375,836)

 Additions - Limited Partner                         1,612,000     23,407,000           5,931,000           23,407,000
           - General Partner                                 -        238,000             120,000              238,000

Redemptions -Limited Partner                       (23,415,878)           -           (26,796,081)                   -

                                                 --------------  -------------  ------------------   ------------------

  Net increase (decrease) in Partners' capital     (24,133,874)    22,927,416         (26,293,908)          22,269,164

Partners' capital, beginning of period              84,928,474     33,059,748          87,088,508           33,718,000
                                                 --------------  -------------  ------------------   ------------------

Partners' capital, end of period                  $ 60,794,600   $ 55,987,164        $ 60,794,600         $ 55,987,164
                                                 --------------  -------------  ------------------   ------------------

Net asset value per Unit
  (68,164.9980 and 56,733.0774 units outstanding
    at June 30, 2000 and 1999, respectively           $ 891.87       $ 986.85            $ 891.87             $ 986.85
                                                 --------------  -------------  ------------------   ------------------

Net gain (loss) per Unit of Limited Partnership
  Interest and General Partner Unit equivalent        $ (25.00)      $   6.37            $ (59.08)            $ (13.15)
                                                 --------------  -------------  ------------------   ------------------


Redemption net asset value per Unit                   $ 895.11       $ 996.55            $ 895.11             $ 996.55
                                                 --------------  -------------  ------------------   ------------------
</TABLE>


See Notes to Financial Statements
                                        4

<PAGE>


            Salomon Smith Barney Global Diversified Futures Fund L.P.
                          Notes to Financial Statements
                                  June 30, 2000
                                   (Unaudited)
1. General:

        Salomon  Smith  Barney  Global   Diversified   Futures  Fund  L.P.  (the
"Partnership") is a limited partnership organized under the laws of the State of
New York, on June 15, 1998 to engage in the speculative trading of a diversified
portfolio  of  commodity  interests  including  futures  contracts,  options and
forward  contracts.  The commodity  interests that are traded by the Partnership
are volatile and involve a high degree of market risk. The Partnership commenced
trading operations on February 2, 1999.

            Between November 25, 1998  (commencement of the offering period) and
February 1, 1999,  33,380  Units of limited  partnership  interest  and 337 Unit
equivalents  representing the general partner's contribution were sold at $1,000
per unit.  The proceeds of the  offering  were held in an escrow  account  until
February 2, 1999,  at which time they were turned  over to the  Partnership  for
trading.

        Smith Barney  Futures  Management  LLC acts as the general  partner (the
"General  Partner") of the Partnership.  The  Partnership's  commodity broker is
Salomon Smith Barney Inc.  ("SSB").  SSB is an affiliate of the General Partner.
The  General  Partner is wholly  owned by Salomon  Smith  Barney  Holdings  Inc.
("SSBHI"), which is the sole owner of SSB. SSBHI is a wholly owned subsidiary of
Citigroup Inc. All trading  decisions are made for the Partnership by Campbell &
Company,  Inc.,  ("Campbell"),  Eagle Trading Systems, Inc. ("Eagle"),  Eckhardt
Trading  Company   ("Eckhardt")  and  Rabar  Market  Research,   Inc.  ("Rabar")
(collectively, the "Advisors").

        The accompanying  financial statements are unaudited but, in the opinion
of management,  include all  adjustments  (consisting  only of normal  recurring
adjustments)  necessary for a fair presentation of the  Partnership's  financial
condition  at June 30,  2000  and  December  31,  1999  and the  results  of its
operations  for the three  months  ended June 30, 2000 and 1999,  the six months
ended June 30,  2000 and the  period  from  February  2, 1999  (commencement  of
trading  operations) to June 30, 1999.  These financial  statements  present the
results of interim periods and do not include all disclosures  normally provided
in annual financial statements.  It is suggested that these financial statements
be read in conjunction  with the financial  statements and notes included in the
Partnership's  annual report on Form 10-K filed with the Securities and Exchange
Commission for the year ended December 31, 1999.

        Due to the nature of commodity  trading,  the results of operations  for
the interim periods presented should not be considered indicative of the results
that may be expected for the entire year.

                                       5
<PAGE>


2. Net Asset Value Per Unit:

        Changes in net asset value per Unit for the three  months ended June 30,
2000 and 1999,  the six months ended June 30, 2000 and the period from  February
2, 1999, (commencement of trading operations) to June 30, 1999 were as follows:


<TABLE>
<CAPTION>
                                                                                                            PERIOD FROM
                                                                                                          FEBRUARY 2, 1999
                                                                                                          (COMMENCEMENT OF
                                             THREE-MONTHS ENDED                      SIX-MONTHS          TRADING OPERATIONS)
                                                  JUNE 30,                              ENDED                     TO
                                          2000                    1999              JUNE 30, 2000            JUNE 30, 1999
                                     --------------          -------------          -------------         ----------------
<S>                                       <C>                     <C>                    <C>                     <C>

Net realized and unrealized
 gains(losses)                         $(37.48)               $  0.53                 $(77.45)               $    1.34
Interest income                          10.72                   8.68                   20.61                    14.35
Expenses                                 (5.06)                (10.20)                  (9.61)                  (36.20)
Other                                     6.82                   7.36                    7.37                     7.36
                                       --------               --------                ---------              ---------

Increase(decrease) for period           (25.00)                  6.37                  (59.08)                  (13.15)

Net Asset Value per Unit,
  beginning of period                   916.87                 980.48                  950.95                 1,000.00
                                       --------               --------                --------               ---------

Net Asset Value per Unit,
  end of period                        $891.87                $986.85                 $891.87                $  986.85
                                       ========               ========                ========               =========

Redemption Net Asset Value
 Per Unit  *                           $895.11                $996.55                 $895.11                $  996.55
                                       ========               ========                ========               =========


        * For the purpose of a redemption,  any remaining deferred liability for
        reimbursement  of offering  and  organization  expenses  will not reduce
        redemption net asset value per unit. (see note 3)

</TABLE>


                                       6
<PAGE>


3.    Offering and Organization Costs:

        Offering and organization expenses of approximately $700,000 relating to
the issuance and marketing of the  Partnership's  Units  offered were  initially
paid by SSB.  These costs have been  recorded as due to SSB in the  statement of
financial condition.  These costs are being reimbursed to SSB by the Partnership
in 24 equal  monthly  installments  (together  with  interest  at the prime rate
quoted by the Chase Manhattan Bank).

        As of June 30,  2000,  $449,845 of these costs have been  reimbursed  to
SSB, by the Partnership.

        In addition,  the Partnership has recorded  interest expense of $54,572,
through June 30, 2000 which is included in other expenses.

        The remaining  deferred liability for these costs due to SSB of $250,155
(exclusive of interest charges) will not reduce Net Asset Value per Unit for any
purpose (other than financial reporting),  including calculation of advisory and
brokerage fees and the redemption value of Units.

4.  Trading Activities:

        The  Partnership  was formed for the purpose of trading  contracts  in a
variety of commodity interests,  including derivative financial  instruments and
derivative  commodity  instruments.  The  results of the  Partnership's  trading
activity  are  shown in the  statement  of income  and  expenses  and  partners'
capital.

        The  Customer  Agreement  between  the  Partnership  and SSB  gives  the
Partnership the legal right to net unrealized gains and losses.

                                       7
<PAGE>


        All of the commodity  interests  owned by the  Partnership  are held for
trading purposes.  The average fair value during the periods ended June 30, 2000
and  December 31,  1999,  based on a monthly  calculation,  was  $2,538,073  and
$1,447,941, respectively. The fair value of these commodity interests, including
options  thereon,  if  applicable,  at June 30, 2000 and December 31, 1999,  was
$570,508 and $3,399,166, respectively, as detailed below.

                                                    Fair Value
                                            June 30,            December 31,
                                             2000                   1999
                                       -------------            ------------
Currency:
 - Exchange Traded Contracts             $(132,272)              $ 286,131
 - OTC Contracts                           135,324                 (383,900)
Energy                                     965,953                  276,537
Grains                                       6,720                  (14,942)
Interest Rates U.S.                        167,463                  803,746
Interest Rates Non-U.S.                      6,350                  306,279
Livestock                                   (3,480)                 (10,200)
Metals                                    (552,488)                 594,978
Softs                                      (12,505)                   1,657
Indices                                    (10,557)               1,538,880
                                         ----------              ----------

Total                                    $ 570,508               $3,399,166
                                         ==========              ==========

5.   Financial Instrument Risk

       The Partnership is party to financial  instruments with off-balance sheet
risk,  including  derivative  financial  instruments  and  derivative  commodity
instruments,  in the normal course of its business.  These financial instruments
may  include  forwards,  futures  and  options,  whose  value is  based  upon an
underlying  asset,  index,  or reference  rate, and generally  represent  future
commitments  to exchange  currencies  or cash  flows,  to purchase or sell other
financial  instruments at specific terms at specified  future dates,  or, in the
case of derivative commodity instruments, to have a reasonable possibility to be
settled in cash, through physical delivery or with another financial instrument.
These  instruments  may be traded on an  exchange or  over-the-counter  ("OTC").
Exchange  traded  instruments are  standardized  and include futures and certain
option contracts.  OTC contracts are negotiated between  contracting parties and
include  forwards and certain options.  Each of these  instruments is subject to
various risks similar to those related to the underlying  financial  instruments
including  market and credit risk.  In general,  the risks  associated  with OTC
contracts are greater than those  associated  with exchange  traded  instruments
because of the greater risk of default by the counterparty to an OTC contract.


                                       8
<PAGE>

        Market risk is the  potential  for changes in the value of the financial
instruments traded by the Partnership due to market changes,  including interest
and foreign  exchange rate movements and  fluctuations  in commodity or security
prices.  Market risk is directly impacted by the volatility and liquidity in the
markets in which the related underlying assets are traded.

        Credit risk is the possibility  that a loss may occur due to the failure
of a counterparty to perform  according to the terms of a contract.  Credit risk
with  respect to exchange  traded  instruments  is reduced to the extent that an
exchange or clearing  organization  acts as a counterparty to the  transactions.
The Partnership's risk of loss in the event of counterparty default is typically
limited to the amounts  recognized in the  statement of financial  condition and
not  represented  by the contract or notional  amounts of the  instruments.  The
Partnership has concentration  risk because the sole counterparty or broker with
respect to the Partnership's assets is SSB.

        The  General  Partner  monitors  and  controls  the  Partnership's  risk
exposure  on a  daily  basis  through  financial,  credit  and  risk  management
monitoring systems and accordingly believes that it has effective procedures for
evaluating and limiting the credit and market risks to which the  Partnership is
subject.  These  monitoring  systems allow the General Partner to  statistically
analyze actual  trading  results with risk adjusted  performance  indicators and
correlation statistics. In addition,  on-line monitoring systems provide account
analysis  of  futures,   forwards  and  options  positions  by  sector,   margin
requirements, gain and loss transactions and collateral positions.

        The  notional or  contractual  amounts of these  instruments,  while not
recorded in the financial  statements,  reflect the extent of the  Partnership's
involvement  in these  instruments.  The  majority of these  instruments  mature
within  one  year  of  June  30,  2000.  However,  due  to  the  nature  of  the
Partnership's business, these instruments may not be held to maturity.

                                       9
<PAGE>


Item 2. Management's  Discussion and Analysis of Financial Condition and Results
of Operations. Liquidity and Capital Resources

        The  Partnership  does not engage in the sale of goods or services.  Its
only assets are its equity in its commodity futures trading account,  consisting
of cash, net unrealized appreciation  (depreciation) on open futures and forward
contracts, commodity options, if applicable, and interest receivable. Because of
the  low  margin  deposits  normally  required  in  commodity  futures  trading,
relatively  small  price  movements  may  result  in  substantial  losses to the
Partnership.  While substantial losses could lead to a decrease in liquidity, no
such losses occurred during the second quarter of 2000.

        The Partnership's  capital consists of the capital  contributions of the
partners as  increased  or  decreased  by gains or losses on  commodity  futures
trading,  expenses,  interest  income,  additions and  redemptions  of Units and
distributions of profits, if any.

        For the six months ended June 30, 2000,  Partnership  capital  decreased
30.2% from  $87,088,508 to  $60,794,600.  This decrease was  attributable to the
redemption of 29,807.5872  Units resulting in an outflow of $26,796,081  coupled
with net loss from  operation of $5,548,827  which was  partially  offset by the
additional sales of 6,391.5840 Units totaling $6,051,000. Future redemptions can
impact  the amount of funds  available  for  investment  in  commodity  contract
positions in subsequent months.

Results of Operations

        During the Partnership's second quarter of 2000, the net asset value per
Unit  decreased  2.7% from $916.87 to $891.87 as compared to an increase of 0.6%
in the second  quarter of 1999. The  Partnership  experienced a net trading loss
before  brokerage  commissions and related fees in the second quarter of 2000 of
$1,705,072.  Losses were  primarily  attributable  to the  trading of  commodity
futures in currencies,  grains,  U.S. and non-U.S.  interest  rates,  metals and
indices and were partially offset by gains in energy,  softs and livestock.  The
Partnership  experienced a net trading loss before  commissions and related fees
in the second quarter of 1999 of $28,072.  Losses were primarily attributable to
the trading of commodity  future in currencies,  livestock,  metals,  softs, and
energy and were partially offset by gains in indices,  grains, U.S. and non-U.S.
interest rates.

        Commodity futures markets are highly volatile.  Broad price fluctuations
and rapid inflation increase the risks involved in commodity  trading,  but also
increase the possibility of profit. The profitability of the Partnership depends

                                       10
<PAGE>

on the  existence  of major  price  trends and the  ability of the  Advisors  to
identify  correctly  those price trends.  Price trends are  influenced by, among
other things, changing supply and demand relationships,  weather,  governmental,
agricultural,   commercial  and  trade  programs  and  policies,   national  and
international  political and economic  events and changes in interest  rates. To
the extent that market trends exist and the Advisors are able to identify  them,
the Partnership expects to increase capital through operations.

        Interest income on 80% of the  Partnership's  daily equity maintained in
cash was earned on the monthly average 30-day U.S. Treasury bill yield. Interest
income for the three and six months  ended June 30, 2000  increased  by $333,165
and $1,069,820,  respectively, as compared to the corresponding periods in 1999.
The increase in interest  income is primarily  due to the effect of additions on
the Partnership's equity maintained in cash.

        Brokerage  commissions are calculated on the adjusted net asset value on
the last day of each month and, therefore, vary according to trading performance
and  redemptions.  Accordingly,  they  must  be  compared  in  relation  to  the
fluctuations in the monthly net asset values. Commissions and fees for the three
and six  months  ended June 30,  2000  increased  by  $307,276  and  $1,271,047,
respectively, as compared to the corresponding periods in 1999.

        Management fees are calculated as a percentage of the  Partnership's net
asset value as of the end of each month and are affected by trading performance,
subscriptions  and  redemptions.  Management  fees for the three and six  months
ended June 30, 2000 increased by $104,086 and 442,761, respectively, as compared
to the corresponding periods in 1999.

        Incentive  fees paid by the  Partnership  are  based on the net  trading
profits of the  Partnership  as defined in the  Limited  Partnership  Agreement.
Trading  performance for the three and six months ended June 3, 2000 resulted in
incentive fees of $0 and $(62,088).  Trading  performance  for the three and six
months ended June 30, 1999  resulted in an incentive fee accrual of $114,175 and
$158,285, respectively.


                                       11
<PAGE>


Item 3. Quantitative and Qualitative Disclosures of Market Risk
           Introduction

        The Partnership is a speculative  commodity  pool. The market  sensitive
instruments held by it are acquired for speculative trading purposes, and all or
substantially all of the Partnership's assets are subject to the risk of trading
loss. Unlike an operating company,  the risk of market sensitive  instruments is
integral, not incidental, to the Partnership's main line of business.

        Market  movements result in frequent changes in the fair market value of
the  Partnership's  open positions and,  consequently,  in its earnings and cash
flow. The Partnership's  market risk is influenced by a wide variety of factors,
including the level and volatility of interest  rates,  exchange  rates,  equity
price  levels,  the market value of financial  instruments  and  contracts,  the
diversification effects of the Partnership's open positions and the liquidity of
the markets in which it trades.

        The  Partnership  rapidly  acquires and  liquidates  both long and short
positions in a wide range of different markets. Consequently, it is not possible
to predict how a particular future market scenario will affect performance,  and
the Partnership's  past performance is not necessarily  indicative of its future
results.

        Value at Risk is a measure of the maximum  amount which the  Partnership
could  reasonably  be expected to lose in a given market  sector.  However,  the
inherent uncertainty of the Partnership's speculative trading and the recurrence
in the markets  traded by the  Partnership  of market  movements  far  exceeding
expectations could result in actual trading or non-trading losses far beyond the
indicated Value at Risk or the Partnership's  experience to date (i.e., "risk of
ruin").  In  light  of the  foregoing  as well as the  risks  and  uncertainties
intrinsic  to all  future  projections,  the  inclusion  of  the  quantification
included in this section should not be considered to constitute any assurance or
representation  that the  Partnership's  losses  in any  market  sector  will be
limited to Value at Risk or by the  Partnership's  attempts to manage its market
risk.

        Exchange   maintenance  margin   requirements  have  been  used  by  the
Partnership as the measure of its Value at Risk. Maintenance margin requirements
are set by exchanges to equal or exceed the maximum losses  reasonably  expected
to be incurred in the fair value of any given contract in 95%-99% of any one-day
intervals.  Maintenance  margin  has been used  rather  than the more  generally
available  initial  margin,  because  initial  margin  includes  a  credit  risk
component, which is not relevant to Value at Risk.

                                       12
<PAGE>



        The following  table indicates the trading Value at Risk associated with
the  Partnership's  open  positions by market  category as of June 30, 2000. All
open position  trading risk exposures of the  Partnership  have been included in
calculating the figures set forth below. As of June 30, 2000, the  Partnership's
total capitalization was approximately  $60,794,600.  There has been no material
change in the trading Value at Risk information previously disclosed in the Form
10-K for the year ended December 31, 1999.


                                  June 30, 2000
                                   (Unaudited)
<TABLE>
<CAPTION>

                                                                     Year to Date
                                              % of Total         High            Low
Market Sector                Value at Risk   Capitalization  Value at Risk    Value at Risk
-------------------------------------------------------------------------------------------
<S>                                 <C>            <C>            <C>             <C>
Currencies:
 - Exchange Traded Contracts    $  184,945          0.30%        $1,124,041    $  184,945
 - OTC Contracts                   969,400          1.59%         1,664,379       558,527
Energy                             911,100          1.50%         1,456,600       296,350
Grains                              22,100          0.04%           386,550        22,100
Interest Rates U.S.                423,825          0.70%         1,400,289       152,800
Interest Rates Non-U.S.          1,587,856          2.61%         3,502,840     1,143,140
Livestock                            2,800          0.00%            35,700         2,800
Metals                             192,875          0.32%           946,825       175,625
Softs                              129,500          0.21%           259,150        71,500
Indices                           733,556           1.21%         2,341,542       448,309
                               -----------         ------

Total                          $5,157,957           8.48%
                               ===========         ======

</TABLE>

                                       13
<PAGE>


                            PART II OTHER INFORMATION

Item 1.  Legal Proceedings -

For information concerning a suit filed by Harris Trust Savings Bank (as trustee
for the Ameritech  Pension Trust) and others against Salomon  Brothers Inc., and
Salomon  Brothers Realty Corp.,  see the description  that appears in the second
and third paragraphs under the caption "Legal  Proceedings" of the Annual Report
on Form 10-K of the  Partnership  for the year ended  December 31,  1999,  which
description  is included as Exhibit 99.1 to this Form 10-Q and  incorporated  by
reference  herein,   and  in  the  first  paragraph  under  the  caption  "Legal
Proceedings"  of the Quarterly  Report on Form 10-Q of the  Partnership  for the
quarterly period ended March 31, 2000, which  description is included as Exhibit
99.2 to this Form 10-Q and incorporated by reference  herein.  On June 12, 2000,
the U.S.  Supreme  Court  reversed  the U.S.  Court of Appeals  for the  Seventh
Circuit's  judgment,  which had overturned the denial of defendants'  motion for
summary  judgment and dismissed the sole remaining  ERISA claim against  Salomon
Smith Barney  Holdings,  Inc.  ("SSBH"),  and remanded the matter to the circuit
court for further proceedings.


                                       14

<PAGE>


Exhibit 99.1


Second and third paragraphs under the caption "Legal  Proceedings"  beginning on
page 11 of the Annual  Report on Form 10-K of SSBH for the year  ended  December
31, 1999 (File No. 1-4346).

In  September  1992,  Harris  Trust and Savings  Bank (as trustee for  Ameritech
Pension Trust ("APT")), Ameritech Corporation, and an officer of Ameritech filed
suit  against  Salomon   Brothers  Inc.  ("SBI")  and  Salomon  Brothers  Realty
Corporation  ("SBRC") in the U.S.  District  Court for the Northern  District of
Illinois  (Harris Trust Savings Bank, not individually but solely as trustee for
the Ameritech  Pension  Trust,  Ameritech  Corporation  and John A. Edwardson v.
Salomon  Brothers Inc and Salomon  Brothers  Realty  Corp.).  The second amended
complaint  alleges that three purchases by APT from defendants of  participation
interests  in net cash flow or resale  proceeds  of three  portfolios  of motels
owned by Motels of America, Inc. ("MOA"), as well as a fourth purchase by APT of
a similar  participation  interest in a portfolio  of motels owned by Best Inns,
Inc. ("Best"),  violated the Employee  Retirement Income Security Act ("ERISA"),
and  that  APT's  purchase  of the  participation  interests  in the  third  MOA
portfolio  and in the Best  portfolio  violated  the  Racketeer  Influenced  and
Corrupt  Organization Act ("RICO") and the Illinois Consumer Fraud and Deceptive
Practices  Act  ("Consumer  Fraud  Act"),  and  constituted   fraud,   negligent
misrepresentation,  breach of contract and unjust  enrichment.  SBI had acquired
the participation interests when it purchased principal mortgage notes issued by
MOA and Best to finance  purchases  of motel  portfolios;  95% of three of those
interests  and 100% of the fourth were sold to APT for a total of  approximately
$20.9 million.  Plaintiffs'  second amended  complaint seeks judgment (a) on the
ERISA claims for the approximately  $20.9 million purchase price, for rescission
and for  disgorgement of profits,  as well as other relief,  and (b) on the RICO
and state law claims in the amount of $12.3 million, with damages trebled to $37
million on the RICO  claims  and  punitive  damages in excess of $37  million on
certain of the state law claims as well as other  relief.  Following  motions by
defendants,  the court dismissed the RICO, Consumer Fraud Act, fraud,  negligent
misrepresentation,  breach of contract,  and unjust enrichment claims. The court
also found that defendants  were not ERISA  fiduciaries and dismissed two of the
three claims based on that allegation.  Defendants moved for summary judgment on
plaintiffs' only remaining claim,  which alleged an ERISA violation.  The motion
was denied, and defendants appealed to the U.S. Court of Appeals for the Seventh
Circuit.  In July  1999,  the U.S.  Court of  Appeals  for the  Seventh  Circuit
reversed the denial of defendants' motion for summary judgment and dismissed the
sole  remaining  ERISA  claim  against  SSBH.  Plaintiffs  filed a petition  for
certiorari  with the U.S.  Supreme Court  seeking  review of the decision of the
Court of Appeals. The petition was granted in January 2000.


                                       15
<PAGE>

Both the Department of Labor and the Internal  Revenue  Service have advised SBI
that they were or are reviewing the underlying transactions. With respect to the
Internal  Revenue  Service,  SSBH,  SBI and SBRC have consented to extensions of
time for the  assessment of excise taxes that may be claimed with respect to the
transactions  for the years 1987,  1988 and 1989.  In August 1996,  the IRS sent
SSBH,  SBI and SBRC what appeared to be draft  "30-day  letters" with respect to
the  transactions and SSBH, SBI and SBRC were given an opportunity to comment on
whether the IRS should issue 30-day letters,  which would actually  commence the
assessment  process.  In October 1996, SSBH, SBI and SBRC submitted a memorandum
setting  forth reasons why the IRS should not issue such 30-day  letters.  Since
that time, the IRS has not issued such 30-day letters to SSBH, SBI or SBRC.



                                       16
<PAGE>


Exhibit 99.2

First  paragraph under the caption "Legal  Proceedings"  beginning on page 17 of
the Quarterly  Report on Form 10-Q of SSBH for the quarterly  period ended March
31, 2000 (File No.1-4346).

For information concerning a suit filed by Harris Trust Savings Bank (as trustee
for the Ameritech  Pension Trust) and others against Salomon  Brothers Inc., and
Salomon  Brothers Realty Corp.,  see the description  that appears in the second
and third paragraphs under the caption "Legal  Proceedings" of the Annual Report
on Form 10-K of the  Partnership  for the year ended  December 31,  1999,  which
description  is included as Exhibit 99.1 to this Form 10-Q and  incorporated  by
reference  herein.  In April 2000, the U.S. Supreme Court heard oral argument on
plaintiffs'  petition to reverse the  decision of the U.S.  Court of Appeals for
the Seventh Circuit. The U.S.
Supreme Court reserved its decision, and has not yet released its opinion.


Item 2.  Changes in Securities and Use of Proceeds -

                  The public offering of Units  terminated on April 1, 2000. For
           the six months ended June 30, 2000,  there were  additional  sales of
           6,266.1056 Units totaling $5,931,000 and contributions by the General
           Partner representing 125.4784 Unit equivalents totaling $120,000.

                  Proceeds  from the sale of  additional  Units  are used in the
           trading of commodity interests  including futures contracts,  options
           and forward contracts.

Item 3.  Defaults Upon Senior Securities - None

Item 4.  Submission of Matters to a Vote of Security Holders - None

Item 5.  Other Information - None

Item 6.  (a) Exhibits - None
         (b) Reports on Form 8-K - None

                                       17
<PAGE>


                                   SIGNATURES

         Pursuant to the  requirements of Section 13 or 15 (d) of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.

SALOMON SMITH BARNEY GLOBAL DIVERSIFIED FUTURES FUND L.P.


By:      Smith Barney Futures Management LLC
         (General Partner)


By:      /s/ David J. Vogel, President
         David J. Vogel, President

Date:    8/14/00


  Pursuant to the  requirements  of the  Securities  Exchange Act of 1934,  this
report  has  been  signed  below  by the  following  persons  on  behalf  of the
registrant and in the capacities and on the dates indicated.

By:      Smith Barney Futures Management LLC
         (General Partner)


By:      /s/ David J. Vogel, President
         David J. Vogel, President


Date:    8/14/00


By:     /s/ Daniel A. Dantuono
        Daniel A. Dantuono
        Chief Financial Officer and
        Director

Date: 8/14/00

                                       18