UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: December 31, 2007 Check here if Amendment [ ]; Amendment Number: This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Smith Barney Fund Management, LLC Address: 620 8th Ave New York, New York 10018 13F File Number: 28-4024 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Terrence Murphy Title: Chief Administrative Officer Phone: 212-559-0135 Signature, Place, and Date of Signing: Terrence Murphy New York, New York February 14, 2008 Report Type (Check only one.): [ X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 1 Form13F Information Table Entry Total: 234 Form13F Information Table Value Total: $844,627 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional managers with respect to which this report is filed, other than the manager filing this report. No. 13F File Number Name 1 28-1700 Legg Mason, Inc. FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- 3M CO COM 88579Y101 562 6660 SH DEFINED 1 6660 0 0 ABBOTT LABS COM 002824100 9168 163260 SH DEFINED 1 163260 0 0 ADOBE SYS INC COM 00724F101 337 7880 SH DEFINED 1 7880 0 0 ADVENT SOFTWARE INC COM 007974108 1894 35000 SH DEFINED 1 35000 0 0 AFLAC INC COM 001055102 2427 38750 SH DEFINED 1 38750 0 0 AGILENT TECHNOLOGIES INC COM 00846U101 2338 63630 SH DEFINED 1 63630 0 0 AIR PRODS & CHEMS INC COM 009158106 892 9040 SH DEFINED 1 9040 0 0 AKAMAI TECHNOLOGIES INC COM 00971T101 4106 118657 SH DEFINED 1 118657 0 0 ALCOA INC COM 013817101 4251 116300 SH DEFINED 1 116300 0 0 ALKERMES INC COM 01642T108 967 62000 SH DEFINED 1 62000 0 0 ALLIED WRLD ASSUR COM HLDG L SHS G0219G203 1667 33220 SH 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