[ARTICLE] 6
[CIK] 0000874835
[NAME] SMITH BARNEY SERIES FUND
[SERIES]
   [NUMBER] 10
   [NAME] DIVERSIFIED STRATEGIC INCOME
<TABLE>
<S>                             <C>
[PERIOD-TYPE]                   YEAR
[FISCAL-YEAR-END]                          DEC-31-1996
[PERIOD-END]                               DEC-31-1996
[INVESTMENTS-AT-COST]                       56,555,704
[INVESTMENTS-AT-VALUE]                      58,605,133
[RECEIVABLES]                                1,138,806
[ASSETS-OTHER]                                 124,359
[OTHER-ITEMS-ASSETS]                                 0
[TOTAL-ASSETS]                              59,619,580
[PAYABLE-FOR-SECURITIES]                             0
[SENIOR-LONG-TERM-DEBT]                              0
[OTHER-ITEMS-LIABILITIES]                      104,725
[TOTAL-LIABILITIES]                            104,725
[SENIOR-EQUITY]                                      0
[PAID-IN-CAPITAL-COMMON]                    53,085,816
[SHARES-COMMON-STOCK]                        5,418,831
[SHARES-COMMON-PRIOR]                        5,927,337
[ACCUMULATED-NII-CURRENT]                    5,164,422
[OVERDISTRIBUTION-NII]                               0
[ACCUMULATED-NET-GAINS]                      (855,469)
[OVERDISTRIBUTION-GAINS]                             0
[ACCUM-APPREC-OR-DEPREC]                     2,120,086
[NET-ASSETS]                                59,514,855
[DIVIDEND-INCOME]                                    0
[INTEREST-INCOME]                            5,048,505
[OTHER-INCOME]                                       0
[EXPENSES-NET]                                 495,789
[NET-INVESTMENT-INCOME]                      4,697,494
[REALIZED-GAINS-CURRENT]                     1,216,193
[APPREC-INCREASE-CURRENT]                      356,725
[NET-CHANGE-FROM-OPS]                        1,572,918
[EQUALIZATION]                                       0
[DISTRIBUTIONS-OF-INCOME]                      788,174
[DISTRIBUTIONS-OF-GAINS]                             0
[DISTRIBUTIONS-OTHER]                                0
[NUMBER-OF-SHARES-SOLD]                      1,867,892
[NUMBER-OF-SHARES-REDEEMED]                  8,240,160
[SHARES-REINVESTED]                         1,0859,349
[NET-CHANGE-IN-ASSETS]                         199,319
[ACCUMULATED-NII-PRIOR]                        601,146
[ACCUMULATED-GAINS-PRIOR]                  (1,608,501)
[OVERDISTRIB-NII-PRIOR]                              0
[OVERDIST-NET-GAINS-PRIOR]                           0
[GROSS-ADVISORY-FEES]                          384,695
[INTEREST-EXPENSE]                                   0
[GROSS-EXPENSE]                                495,789
[AVERAGE-NET-ASSETS]                        59,184,989
[PER-SHARE-NAV-BEGIN]                            10.01
[PER-SHARE-NII]                                  01.12
[PER-SHARE-GAIN-APPREC]                              0
[PER-SHARE-DIVIDEND]                             00.15
[PER-SHARE-DISTRIBUTIONS]                            0
[RETURNS-OF-CAPITAL]                                 0
[PER-SHARE-NAV-END]                              10.98
[EXPENSE-RATIO]                                  00.84
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0
</TABLE>