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 September 30, 1999

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
                           390 Greenwich St. - 1st 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
          September 30, 1999 and December 31,
          1998 (unaudited).                                         3

          Statement of Income and Expenses and
          Partners'  Capital for the period
          from June 15, 1998 (date the  Partnership
          was organized) to September 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 - 12

  Item 3. Quantitative and Qualitative
          Disclosures of Market Risk                               13 - 14

PART II - Other Information                                          15

                                              2

<PAGE>

                                     PART I
                          ITEM 1. FINANCIAL STATEMENTS


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


                                             SEPTEMBER 30,    DECEMBER 31,
                                                 1999           1998
                                             ------------   ------------
ASSETS:

Equity in commodity futures trading account:
  Cash                                         $77,496,975   $     2,000
  Net unrealized appreciation
   on open futures contracts                     1,852,246          --
Commodity options owned, at market value
    (cost $31,750)                                   2,000          --
                                               -----------   -----------
                                                79,351,221         2,000
Interest receivable                                230,681          --
                                               -----------   -----------
                                               $79,581,902   $     2,000
                                               ===========   ===========
LIABILITIES AND PARTNERS' CAPITAL:

Liabilities:
 Accrued expenses:
  Commissions                                  $   353,079   $      --
  Management fees                                  128,954          --
  Incentive fees                                   260,483          --
  Other expenses                                   104,658          --
  Due to SSB                                       487,758          --
Redemptions                                        765,393          --
                                               -----------   -----------
                                                 2,100,325          --
                                               -----------   -----------
Partners' Capital:

General Partner, 813.5347 and 1 Unit
   equivalents outstanding in 1999
   and 1998, respectively                          793,611         1,000
Limited Partners, 78,613.4915 and 1 Unit
  of Limited Partnership Interest
  outstanding in 1999 and 1998, respectively    76,687,966         1,000

                                               -----------   -----------
                                                77,481,577         2,000
                                               -----------   -----------
                                               $79,581,902   $     2,000
                                               ===========   ===========

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
                                                                            JUNE 15, 1998
                                                                        (DATE THE PARTNERSHIP
                                                                            WAS ORGANIZED)*
                                                                          THREE MONTHS ENDED TO
                                                        SEPTEMBER 30,      SEPTEMBER 30,
                                                        --------------------------------------
                                                           1999                 1999
                                                       ---------------------------------------
<S>                                                           <C>               <C>
Income:
  Net gains (losses) on trading of commodity
   futures:
  Realized gains (losses) on closed positions         $     45,711          $ (1,570,469)
  Change in unrealized gains (losses) on open
   positions                                              (123,816)            1,822,496
                                                         ------------        ------------
                                                           (78,105)              252,027
Less, brokerage commissions including clearing fees
  of $30,083 and $60,205, respectively                    (911,375)           (1,960,757)
                                                         ------------        ------------
  Net realized and unrealized losses                      (989,480)           (1,708,730)
  Interest  income                                         647,439             1,264,683
                                                        ------------          ------------
                                                          (342,041)             (444,047)
                                                        ------------          ------------

Expenses:
  Management fees                                          356,690               705,129
  Incentive fees                                           102,198               260,483
  Other                                                     40,948               808,054
                                                        ------------         ------------
                                                           499,836             1,773,666
                                                        ------------         ------------
  Net loss                                                (841,877)           (2,217,713)
Proceeds from offering  - Limited Partner                     --              33,380,000
                        - General Partner                     --                 338,000
 Additions              - Limited Partne                23,475,000            46,882,000
                        - General Partner                  240,000               478,000
Redemptions                                             (1,378,710)           (1,378,710)
                                                       ------------          ------------
  Net increase in Partners' capital                     21,494,413            77,481,577
Partners' capital, beginning of period                  55,987,164                   --
                                                        ------------         ------------
Partners' capital, end of period                      $ 77,481,577          $ 77,481,577
                                                        ------------         ------------
Net asset value per Unit
  (Units outstanding 79,427.0262 at
   September 30, 1999)                                $     975.51          $     975.51
                                                       ------------         ------------

Net loss per Unit of Limited Partnership
  Interest and General Partner Unit equivalent        $     (11.34)        $     (24.49)
                                                       ------------         ------------
Redemption net asset value per Unit                   $     981.27         $     981.27
                                                       ------------         ------------
</TABLE>

See Notes to Financial Statements

*Note: The Partnership commenced trading operations on
           February 2, 1999.

                                                  4
<PAGE>



            SALOMON SMITH BARNEY GLOBAL DIVERSIFIED FUTURES FUND L.P.
                          NOTES TO FINANCIAL STATEMENTS
                               September 30, 1999
                                   (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 offering period) and February 1,
1999,  33,379 Units of limited  partnership  interest and 337 Units  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 General Partner changed its form of
organization   from  a  corporation  to  a  limited   liability   company.   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.  ("SSBH"),  which is the sole owner of SSB. SSBH 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  September  30, 1999 and  December  31, 1998  (unaudited)  and the
results of its  operations  for the period from June 15, 1998 (date  Partnership
was organized) to September 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, 1998.

                                   5
<PAGE>

     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.

2.      Net Asset Value Per Unit:

     Changes in net asset value per Unit for the three  months  ended  September
30,  1999 and for the  period  from June 15,  1998,  (date the  Partnership  was
organized) to September 30, 1999 were as follows:

                                                PERIOD FROM
                                                 JUNE 15, 1998
                                THREE-MONTHS (DATE THE PARTNERSHIP
                                   ENDED        WAS ORGANIZED)
                                SEPTEMBER 30,         TO
                                   1999        SEPTEMBER 30, 1999

Net realized and unrealized
 losses                       $  (16.34)$       (15.00)
Interest income                    8.99          23.34
Expenses                          (6.72)        (42.92)
Other                              2.73          10.09
                                -------         ------
Decrease for period              (11.34)        (24.49)

Net Asset Value per Unit,
  beginning of period            986.85       1,000.00
                                -------       --------
Net Asset Value per Unit,
  end of period                $ 975.51      $  975.51
                               ========       ========
Redemption Net Asset Value
 Per Unit*                     $ 981.27      $  981.27
                              ========        ========

     * 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)

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  and as expenses in the  statement  of  operations  for the
period ended September 30, 1999.  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).

     Based on this  calculation,  as of September  30,  1999,  $210,669 of these
costs are currently  payable to SSB, of which the Partnership has reimbursed SSB
$183,992 and $26,677 remains payable.


                                        6

<PAGE>

     In addition,  the Partnership has recorded interest expense of $31,639,  of
which the Partnership has paid SSB $28,251 and $3,325 remains payable.

     The  remaining  deferred  liability  for these costs due to SSB of $457,693
(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.

     All of the  commodity  interests  owned  by the  Partnership  are  held for
trading purposes. The fair value of these commodity interests, including options
thereon,  if  applicable,  at September 30, 1999 was  $1,854,246 and the average
fair value  during the period  from  February 2, 1999  (commencement  of trading
operations) to September 30, 1999, based on monthly calculation, was $1,450,734.

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.

                              7
<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.

                         8

<PAGE>

     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.

     At  September  30,  1999,  the  notional  or  contractual  amounts  of  the
Partnership's commitment to purchase and sell these instruments was $380,935,330
and  $385,503,258,  respectively,  as detailed below.  All of these  instruments
mature within one year of September 30, 1999. However,  due to the nature of the
Partnership's  business,  these  instruments  may not be held  to  maturity.  At
September 30, 1999, the fair value of the Partnership=s  derivatives,  including
options thereon, if applicable, was $1,854,246, as detailed below.

                                    SEPTEMBER 30, 1999
                                        (Unaudited)
                                  NOTIONAL OR CONTRACTUAL
                                  AMOUNT OF COMMITMENTS
                               TO PURCHASE       TO SELL       FAIR VALUE

Currencies:
- OTC Contracts               $118,451,750   $ 82,872,704   $     22,788
- Exchange Traded Contracts     31,895,048     11,041,194        383,089
Energy                          12,604,704           --          755,172
Grains                           1,454,687      2,314,765         45,858
Interest Rates U.S.             53,238,931     60,880,632         38,615
Interest Rates Non-U.S         132,268,124    214,883,719        533,448
Metals                          21,756,813      1,662,485        196,461
Softs                              807,423      1,680,288         28,907
Indices                          8,457,850     10,167,471       (150,092)
                               -----------   ------------     -----------
Totals                        $380,935,330   $385,503,258   $  1,854,246
                               ===========    ===========      =========

                                   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 period ended September 30, 1999.

         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 period ended September 30, 1999,  Partnership capital increased
129.8% from $33,718,000  (proceeds from offering) to $77,481,577.  This increase
was primarily attributable to the additional sales of 47,112.9932 Units totaling
$47,360,000,  partially  offset  by a net loss  from  operations  of  $2,217,713
coupled  with the  redemption  of  1,403.9670  Units  resulting in an outflow of
$1,378,710  for the period ended  September  30, 1999.  Future  redemptions  can
impact  the amount of funds  available  for  investment  in  commodity  contract
positions in subsequent months.

Risk of Computer System Failure (Year 2000 Issue)

         The Year  2000  issue  is the  result  of  existing  computers  in many
businesses  using only two digits to  identify a year in the date  field.  These
computers and programs,  often  referred to as  "information  technology,"  were
designed and developed without  considering the impact of the upcoming change in
the century. If not corrected,  many computer  applications could fail or create
erroneous  results at the Year 2000. Such systems and processes are dependent on
correctly identifying dates in the next century.

         The General Partner administers the business of the Partnership through
various  systems and  processes  maintained  by SSBH and SSB. In  addition,  the
operation of the Partnership is dependent on the capability of the Partnership's
Advisors,  the brokers and exchanges through which the Advisors trade, and other
third  parties to prepare  adequately  for the Year 2000 impact on their systems
and processes.  The Partnership itself has no systems or information  technology
applications relevant to its operations.


                                   10
<PAGE>

         The General Partner, SSB, SSBH and their parent organization  Citigroup
Inc. have undertaken a comprehensive,  firm-wide evaluation of both internal and
external  systems  (systems  related to third parties) to determine the specific
modifications  needed to  prepare  for the year  2000.  The  combined  Year 2000
program in SSB is  expected to cost  approximately  $140  million  over the four
years from 1996 through 1999,  and has involved over 450 people.  As of June 30,
1999, SSB has completed all compliance and certification work.

         The systems and components  supporting the General  Partner's  business
that require  remediation  have been brought  into Year 2000  compliance.  Final
testing and certification was completed as of June 30, 1999.

         This expenditure and the General Partner's  resources  dedicated to the
preparation  for Year  2000 do not and will not have a  material  impact  on the
operation or results of the Partnership.

         The General Partner has received statements from the Advisors that they
have completed their Year 2000 remediation programs.

         The most likely and most significant risk to the Partnership associated
with the lack of Year 2000  readiness  is the failure of outside  organizations,
including the commodities exchanges, clearing organizations,  or regulators with
which the  Partnership  interacts to resolve  their Year 2000 issues in a timely
manner.  This risk could  involve the  inability to  determine  the value of the
Partnership  at some  point  in time  and  would  make  effecting  purchases  or
redemptions  of Units in the  Partnership  infeasible  until such  valuation was
determinable.

         SSB has successfully  participated in industry-wide  testing including:
The Streetwide  Beta Testing  organized by the Securities  Industry  Association
(SIA), a government  securities  clearing test with the Federal  Reserve Bank of
New York,  The  Depository  Trust  Company,  and The Bank of New  York,  and the
Futures Industry  Association  participants  test. The firm also participated in
the streetwide testing that was conducted from March through May 1999.

         It is possible  that problems may occur that would require some time to
repair.  Moreover,  it is possible that problems will occur outside SSBH and the
General  Partner  for which  SSBH or the  General  Partner  could  experience  a
secondary  effect.  Consequently,  SSBH and the General  Partner  have  prepared
comprehensive,  written  contingency plans so that alternative  procedures and a
framework for critical decisions are defined before any potential crisis occurs.

         The  goal of  year  2000  contingency  planning  is a set of  alternate
procedures to be used in the event of a critical system failure by a supplier or
counterparty.  Planning  work was  completed  in January  1999,  and  testing of
alternative  procedures  will be completed  in the third and fourth  quarters of
1999.
                                   11

<PAGE>

Results of Operations

         During the Partnership's third quarter of 1999, the net asset value per
unit decreased 1.1% from $986.85 to $975.51.  The Partnership  experienced a net
trading loss before  brokerage  commissions and related fees in the period ended
September 30, 1999 of $78,105. Losses were primarily attributable to the trading
of commodity futures in currencies,  grains,  U.S. and non-U.S.  interest rates,
livestock and indices and were partially  offset by gains in energy,  metals and
softs. The partnership  commenced trading operations on February 2, 1999, and as
a result, comparative information is not available.

         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
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 rate determined
weekly by SSB based on the  non-competitive  yield on three month U.S.  Treasury
bills maturing in 30 days.

         Brokerage  commissions  are calculated on the  Partnership's  net asset
value as of the last day of each month and, therefore, vary according to trading
performance, additions and redemptions.

         Management fees are calculated on the portion of the  Partnership's net
asset value  allocated to each  Advisor at the end of the month and,  therefore,
are affected by trading performance, additions and redemptions.

         Incentive fees are based on the new trading  profits  generated by each
Advisor as defined in the  advisory  agreements  between  the  Partnership,  the
General Partner and each Advisor. Trading performance for the three months ended
September 30, 1999 and the period from June 15, 1998 (date the  Partnership  was
organized)  to  September  30,  1999  resulted  in an  incentive  fee accrual of
$102,198 and $260,483, respectively, payable March 31, 2000.

                              12
<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 among 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.


                              13

<PAGE>



         The following table indicates the trading Value at Risk associated with
the  Partnership's  open positions by market  category as of September 30, 1999.
All open position  trading risk exposures of the Partnership  have been included
in  calculating  the figures set forth  below.  As of September  30,  1999,  the
Partnership's total capitalization was $77,481,577.

                          September 30, 1999
                             (Unaudited)
                                              % of Total
Market Sector               Value at Risk    Capitalization

Currencies
   OTC Contracts               $1,119,897      1.45%
   Exchange Traded Contracts      515,812      0.67%
Energy                            805,500      1.04%
Grains                            116,200      0.15%
Interest rate U.S.                400,080      0.52%
Interest rate Non-U.S           1,788,195      2.31%
Metals                            990,900      1.28%
Softs                             163,100      0.20%
Indices                         1,040,116      1.34%
                               ----------      -----
Total                          $6,939,800      8.96%
                                =========      =====

                              14
<PAGE>


          PART II OTHER INFORMATION

Item 1.   Legal Proceedings -

               For  information  concerning  a purported  class  action  against
          numerous  broker-dealers  including  Salomon  Smith  Barney,  see  the
          description that appears in the sixth paragraph under the caption Item
          3. "Legal  Proceedings"  on Form 10-K for the year ending December 31,
          1998. SSBH has filed a motion to dismiss the amended complaint.


Item 2.   Changes in Securities and Use of Proceeds -

               The  Partnership  continues to offer units at the net asset value
          per Unit as of the end of each  quarter.  For the three  months  ended
          September 30, 1999, there were additional  sales of 23,854.0407  Units
          totaling   $23,475,000  and   contributions  by  the  General  Partner
          representing 243.8752 Unit equivalents totaling $240,000.

               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

                         15

<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:      11/12/99


  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:      11/12/99


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

Date: 11/12/99

                    16