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, 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 Inc.
                           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
            June 30, 1999 (unaudited).                               3

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



                                                                 JUNE 30,
                                                                   1999
ASSETS:                                                       (Unaudited)


Equity in commodity futures trading account:
  Cash                                                         $ 54,956,533
  Net unrealized appreciation
   on open futures contracts                                      1,976,062
Commodity options owned, at market value
    (cost $82,666)                                                   52,914
                                                       ---------------------
                                                                 56,985,509

Interest receivable                                                 158,040
                                                       =====================
                                                               $ 57,143,549
                                                       =====================




LIABILITIES AND PARTNERS' CAPITAL:

Liabilities:
 Accrued expenses:
 Commissions                                                      $ 261,402
 Management fees                                                     92,230
 Incentive fees                                                     158,285
 Other expense                                                       63,713
 Due to SSB                                                         580,755

                                                       =====================
                                                                  1,156,385
                                                       =====================

Partners' Capital:

General Partner, 569.6595 Unit
   equivalents outstanding in 1999                                  562,168
Limited Partners, 56,163.4179 Unit
  of Limited Partnership
  Interest outstanding in 1999                                   55,424,996
                                                       ---------------------

                                                                 55,987,164
                                                       ---------------------

                                                               $ 57,143,549
                                                       =====================

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 PARTNERSHIP
                                                     THREE MONTHS   WAS ORGANIZED
                                                        ENDED             TO
                                                       JUNE 30,       JUNE 30,
                                                    ---------------------------
                                                         1999           1999

                                                    ---------------------------
<S>                                                     <C>             <C>
Income:
  Net gains (losses) on trading of commodity
   futures:
  Realized losses on closed positions             $ (1,130,692)   $ (1,616,178)
  Change in unrealized gains/losses on open
   positions                                         1,102,620       1,946,310

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

                                                       (28,072)        330,132
Less, brokerage commissions including clearing
  fees of $22,197 and $30,122, respectively           (718,610)     (1,049,382)
                                                   ------------    -----------
  Net realized and unrealized losses                  (746,682)       (719,250)
  Interest income                                      426,122         617,244
                                                    ------------    -----------
                                                      (320,560)       (102,006)
                                                    ------------    -----------

Expenses:
  Management fees                                      242,398         348,439
  Incentive fees                                       114,175         158,285
  Other                                                 40,451         767,106

                                                    ------------    ----------
                                                       397,024       1,273,830
                                                   ------------    ----------
  Net loss                                            (717,584)     (1,375,836)

Proceeds from offering - Limited Partner                            33,380,000
                       - General Partner                               338,000
 Additions - Limited Partner                        23,407,000      23,407,000
             General Partner                           238,000         238,000
                                                   ------------    ------------

  Net increase in Partners' capital                 22,927,416      55,987,164
Partners' capital, beginning of period              33,059,748            --
                                                   ------------    ------------
Partners' capital, end of period                  $ 55,987,164    $ 55,987,164
                                                  ------------    ------------

Net asset value per Unit
  (Units outstanding 56,733.0774 at
  June 30, 1999)                                   $    986.85      $   986.85
                                                   ------------     ----------

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

Redemption net asset value per Unit               $     996.55      $   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, 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  Inc.  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.
("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 June 30, 1999 and the results of its operations for the period from
June 15, 1998 (date Partnership was organized) 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, 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 period  from June 15,  1998,
(date Partnership was organized) to June 30, 1999 was as follows:

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

Net realized and unrealized
 gains (losses)              $     0.53 $       1.34
Interest income                    8.68        14.35
Expenses                         (10.20)      (36.20)
Other                              7.36         7.36
                                 -------    ---------

Increase (decrease) for
 period                            6.37       (13.15)

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

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

Redemption Net Asset Value
 Per Unit                    $   996.55 $     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)

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 expense in the statement of operations for the period
ended June 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).


                                   6
<PAGE>

         Based on this calculation, as of June 30, 1999, $129,399 of these costs
are  currently  payable to SSB,  of which the  Partnership  has  reimbursed  SSB
$102,442 and $26,957 remains payable.

         In addition,  the Partnership has recorded interest expense of $20,710,
of which the Partnership has paid SSB $16,803 and $3,907 remains payable.

         The remaining deferred liability for these costs due to SSB of $549,891
(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 June 30, 1999 was  $2,028,976 and the average fair
value  during  the  period  from  February  2,  1999  (commencement  of  trading
operations) to June 30, 1999, based on monthly calculation, was $1,204,613.

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

                                   7

<PAGE>

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.

         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.

                              8
<PAGE>



         At  June  30,  1999,  the  notional  or  contractual   amounts  of  the
Partnership's commitment to purchase and sell these instruments was $145,800,631
and  $544,065,948,  respectively,  as detailed below.  All of these  instruments
mature  within  one year of June 30,  1999.  However,  due to the  nature of the
Partnership's  business,  these instruments may not be held to maturity. At June
30, 1999, the fair value of the  Partnership=s  derivatives,  including  options
thereon, if applicable, was $2,028,976, as detailed below.

                                    JUNE 30, 1999
                                NOTIONAL OR CONTRACTUAL
                                AMOUNT OF COMMITMENTS
                               TO PURCHASE       TO SELL       FAIR VALUE

Currencies:
- OTC Contracts               $ 66,387,737   $ 76,445,423   $  (344,199)
- Exchange Traded Contracts     13,224,819     21,835,991        85,626
Energy                           9,925,035           --         503,393
Grains                             133,000      4,238,650        83,466
Interest Rates U.S.                 48,766    144,168,861       329,036
Interest Rates Non-U.S          20,940,808    286,285,897     1,188,711
Livestock                             --          199,280        38,210
Metals                          10,900,680      9,573,810      (143,464)
Softs                               58,408      1,067,320         9,858
Indices                         24,181,378        250,716       278,339
                              ------------   ------------   -----------

Totals                        $145,800,631   $554,065,948   $ 2,028,976
                              ============   ============   ===========

                                   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 June 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 June 30, 1999, Partnership capital increased 66.0%
from  $33,718,000  (proceeds  from offering) to  $55,987,164.  This increase was
primarily  attributable  to the additional  sales of 23,015.0773  Units totaling
$23,645,000  which  was  partially  offset  by a net  loss  from  operations  of
$1,375,836 for the period ended June 30, 1999.

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.

                  The General Partner,  SSB, SSBH and their parent  organization
Citigroup Inc. have  undertaken a  comprehensive,  firm-wide  evaluation of both

                                   10
<PAGE>

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 program.

                  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  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
for which SSBH could  experience  a  secondary  effect.  Consequently,  SSBH has
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 of  counterparty.  Planning  work was  completed in January  1999,  and
testing of  alternative  procedures  will be  completed  in the third and fourth
quarter of 1999.
                                   11

<PAGE>

Results of Operations

     During the  Partnership's  second  quarter of 1999, the  Partnership's  net
asset value per Unit  increased  0.6% from $980.48 to $986,85.  The  Partnership
experienced a net trading loss before brokerage  commissions and related fees in
the period ended June 30, 1999 of $28,072. Losses were primarily attributable to
the trading of commodity  futures in currencies,  livestock,  metals,  softs and
energy and were partially  offset by gains in U.S. and non-U.S.  interest rates,
grains and indices. 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
June 30, 1999 and the period from June 15, 1998 (date Partnership was organized)
to June 30, 1999  resulted in an incentive fee accrual of $114,175 and $158,285,
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 June 30, 1999. All
open position  trading risk exposures of the  Partnership  have been included in
calculating the figures set forth below. As of June 30, 1999, the  Partnership's
total capitalization was approximately $55,987,164.

                             June 30, 1999

                                              % of Total
Market Sector                Value at Risk   Capitalization

Currencies
   OTC Contracts               $1,009,762       1.80%
   Exchange Traded Contracts      352,655       0.63%
Energy                            657,000       1.17%
Grains                            158,454       0.28%
Interest rate U.S.                633,408       1.13%
Interest rate Non-U.S           1,509,535       2.71%
Metals                            399,250       0.71%
Softs                              54,000       0.10%
Livestock                           7,200       0.01%
Indices                         1,406,447       2.51%
                               ----------   -----

Total                          $6,187,771      11.05%
                               ==========   =====


                                   14
<PAGE>


                            PART II OTHER INFORMATION

Item 1.   Legal Proceedings - None

                      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 and six months
          ended June 30, 1999, there were additional sales of 22,783.4178  Units
          totaling   $23,407,000  and   contributions  by  the  General  Partner
          representing 231.6595 Unit equivalents totaling $238,000.

               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 Inc.
           (General Partner)


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

Date:      8/13/99


  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 Inc.
           (General Partner)


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


Date:      8/13/99


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

Date: 8/13/99