[ARTICLE] 6
[CIK] 0000874835
[NAME] SMITH BARNEY SERIES FUND
[SERIES]
   [NUMBER] 2
   [NAME] EQUITY INCOME FUND
<TABLE>
<S>                             <C>
[PERIOD-TYPE]                   YEAR
[FISCAL-YEAR-END]                          DEC-31-1996
[PERIOD-END]                               DEC-31-1996
[INVESTMENTS-AT-COST]                       40,349,311
[INVESTMENTS-AT-VALUE]                      45,419,501
[RECEIVABLES]                                  331,582
[ASSETS-OTHER]                                       0
[OTHER-ITEMS-ASSETS]                                 0
[TOTAL-ASSETS]                              45,751,446
[PAYABLE-FOR-SECURITIES]                        16,273
[SENIOR-LONG-TERM-DEBT]                              0
[OTHER-ITEMS-LIABILITIES]                      119,328
[TOTAL-LIABILITIES]                            135,601
[SENIOR-EQUITY]                                      0
[PAID-IN-CAPITAL-COMMON]                    38,402,040
[SHARES-COMMON-STOCK]                            3,507
[SHARES-COMMON-PRIOR]                            4,247
[ACCUMULATED-NII-CURRENT]                    2,153,889
[OVERDISTRIBUTION-NII]                               0
[ACCUMULATED-NET-GAINS]                       (10,274)
[OVERDISTRIBUTION-GAINS]                             0
[ACCUM-APPREC-OR-DEPREC]                     5,070,190
[NET-ASSETS]                                45,615,845
[DIVIDEND-INCOME]                            1,726,905
[INTEREST-INCOME]                              801,101
[OTHER-INCOME]                                       0
[EXPENSES-NET]                                 369,077
[NET-INVESTMENT-INCOME]                      2,158,929
[REALIZED-GAINS-CURRENT]                     2,077,070
[APPREC-INCREASE-CURRENT]                  (1,702,067)
[NET-CHANGE-FROM-OPS]                        2,533,932
[EQUALIZATION]                                       0
[DISTRIBUTIONS-OF-INCOME]                      279,331
[DISTRIBUTIONS-OF-GAINS]                             0
[DISTRIBUTIONS-OTHER]                                0
[NUMBER-OF-SHARES-SOLD]                         35,646
[NUMBER-OF-SHARES-REDEEMED]                    797,407
[SHARES-REINVESTED]                             21,388
[NET-CHANGE-IN-ASSETS]                     (6,828,423)
[ACCUMULATED-NII-PRIOR]                        274,291
[ACCUMULATED-GAINS-PRIOR]                  (2,087,344)
[OVERDISTRIB-NII-PRIOR]                              0
[OVERDIST-NET-GAINS-PRIOR]                           0
[GROSS-ADVISORY-FEES]                          215,308
[INTEREST-EXPENSE]                                   0
[GROSS-EXPENSE]                                369,077
[AVERAGE-NET-ASSETS]                        47,697,279
[PER-SHARE-NAV-BEGIN]                            12.35
[PER-SHARE-NII]                                  00.63
[PER-SHARE-GAIN-APPREC]                          00.11
[PER-SHARE-DIVIDEND]                             00.08
[PER-SHARE-DISTRIBUTIONS]                            0
[RETURNS-OF-CAPITAL]                                 0
[PER-SHARE-NAV-END]                              13.01
[EXPENSE-RATIO]                                  05.99
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0
</TABLE>