<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000808244
<NAME> SMITH BARNEY VARIABLE ACCOUNT FUNDS
<SERIES>
   <NUMBER> 3
   <NAME> RESERVE ACCOUNT PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               DEC-31-1998
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<INVESTMENTS-AT-VALUE>                               0
<RECEIVABLES>                                   58,442
<ASSETS-OTHER>                                      38
<OTHER-ITEMS-ASSETS>                             3,840
<TOTAL-ASSETS>                                  62,320
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        5,908
<TOTAL-LIABILITIES>                              5,908
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        58,545
<SHARES-COMMON-STOCK>                            7,669
<SHARES-COMMON-PRIOR>                           12,593
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                         (2,133)
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                    56,412
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     802
<NET-INVESTMENT-INCOME>                          (802)
<REALIZED-GAINS-CURRENT>                             0
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<NET-CHANGE-FROM-OPS>                                0
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        2,677
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            271
<NUMBER-OF-SHARES-REDEEMED>                      5,557
<SHARES-REINVESTED>                                362
<NET-CHANGE-IN-ASSETS>                        (40,566)
<ACCUMULATED-NII-PRIOR>                            857
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
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<INTEREST-EXPENSE>                                   0
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<AVERAGE-NET-ASSETS>                            80,314
<PER-SHARE-NAV-BEGIN>                             7.70
<PER-SHARE-NII>                                  (0.07)
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                              0.27 
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               7.36
<EXPENSE-RATIO>                                   1.00
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>