##### Table of Contents





UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, D.C. 20549
  FORM 10-Q
  (X) QUARTERLY REPORT PURSUANT TO SECTION 13 or
    15(d)
  OF THE SECURITIES EXCHANGE ACT OF 1934
  For the
    Quarterly Period endedJune 30, 2009
  OR
    ( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR
    15(d)
  OF THE
    SECURITIES EXCHANGE ACT OF 1934
  For the
    transition period from
    
    to
  Commission
    File Number 000-24111
  SMITH BARNEY WESTPORT FUTURES FUND L.P.
     New York

13-3939393(State or other jurisdiction of
    incorporation or organization)

(I.R.S. Employer
    Identification No.)   c/o Citigroup
    Managed Futures LLC
    55 East 59th Street  10th Floor
    New York, New York 10022
     (212) 559-2011
       Yes X  No
   Yes   No
    Large
    accelerated filer
    Accelerated filer
    Non-accelerated filer X
    Smaller
reporting company  Rule 12b-2
  Yes   No X




---



##### 



SMITH
    BARNEY WESTPORT FUTURES FUND L.P.
  FORM 10-Q
  INDEX
  PageNumberPART I  Financial Information:Item
    1.


Financial Statements:Statements of Financial Condition at
    June 30, 2009 and December 31, 2008 (unaudited)

3Schedules of Investments at
    June 30, 2009 and December 31, 2008 (unaudited)

4  5Statements of Income and Expenses and
    Partners Capital for the three and six months ended
    June 30, 2009 and 2008 (unaudited)

6Notes to Financial Statements (unaudited)

7  13Item
    2.


Managements Discussion and Analysis
    of Financial Condition and Results of Operations

14  17Item
    3.


Quantitative and Qualitative Disclosures about Market Risk

18  19Item
    4T.


Controls and Procedures

20PART II  Other Information

21 - 25ExhibitsEX-10 JOINDER AGREEMENTEX-31.1 CERTIFICATIONEX-31.2 CERTIFICATIONEX-32.1 CERTIFICATIONEX-32.2 CERTIFICATION   2




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##### Table of Contents



PART I  Item 1.
    Financial Statements  Smith Barney Westport Futures Fund L.P.
Statements of Financial Condition
(Unaudited) June 30,
    
    
    December 31,2009
    
    

2008Assets:Investment in JWH Master, at fair value
    
    $
    57,127,540
    
    
    $
    75,781,841Equity in trading account:Cash
    
    
    8,962,718
    
    
    
    11,872,187Cash margin
    
    
    671,946
    
    
    
    771,833Net unrealized appreciation on open futures contracts
    
    
    
    
    
    
    145,299Net unrealized appreciation on open forward contracts
    
    
    
    
    
    
    62,98866,762,204
    
    
    
    88,634,148Interest receivable
    
    
    638
    
    
    
    177Total assets
    
    $
    66,762,842
    
    
    $
    88,634,325Liabilities and Partners CapitalLiabilities:Net
unrealized depreciation on open futures contracts

    
    $
    24,314
    
    
    $
    Net unrealized depreciation on open forward contracts
    
    
    43,025
    
    
    
    Accrued expenses:Brokerage commissions
    
    
    305,688
    
    
    
    406,241Management fees
    
    
    110,541
    
    
    
    146,857Incentive fees
    
    
    
    
    
    
    1,908,225Other
    
    
    65,086
    
    
    
    113,634Redemptions payable
    
    
    944,067
    
    
    
    3,668,466Total liabilities
    
    
    1,492,721
    
    
    
    6,243,423Partners Capital:General Partner 509.1843 and 390.1941 Unit equivalents
outstanding at June 30, 2009 and December 31, 2008, respectively
    
    
    825,586
    
    
    
    711,258Limited Partners, 39,746.4816 and 44,809.2848 Redeemable
Units of Limited Partnership Interest outstanding at June 30, 2009
and December 31, 2008, respectively
    
    
    64,444,535
    
    
    
    81,679,644Total partners capital
    
    
    65,270,121
    
    
    
    82,390,902Total liabilities and partners capital
    
    $
    66,762,842
    
    
    $
    88,634,325
   3




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##### Table of Contents



Smith
    Barney Westport Futures Fund L.P.
    Schedule of Investments
    June 30, 2009
    (Unaudited)  Number of






% of PartnersContracts



Fair Value


CapitalFutures Contracts PurchasedCurrencies
    
    
    26
    
    
    $
    9,431
    
    
    0.01
    %Energy
    
    
    4
    
    
    
    (7,009
    )
    
    (0.01
    )Grains
    
    
    10
    
    
    
    (19,330
    )
    
    (0.03
    )Interest Rates U.S.
    
    
    19
    
    
    
    (3,562
    )
    
    (0.00
    )*Interest Rates Non-U.S.
    
    
    22
    
    
    
    42,082
    
    
    0.06Indices
    
    
    22
    
    
    
    157
    
    
    0.00
    *Metals
    
    
    7
    
    
    
    (18,420
    )
    
    (0.03
    )Softs
    
    
    26
    
    
    
    30,055
    
    
    0.05Total futures contracts purchased
    
    
    
    
    
    
    33,404
    
    
    0.05Futures Contracts SoldCurrencies
    
    
    14
    
    
    
    (34,212
    )
    
    (0.05
    )Energy
    
    
    5
    
    
    
    4,350
    
    
    0.01Grains
    
    
    14
    
    
    
    27,125
    
    
    0.04Interest Rates U.S.
    
    
    14
    
    
    
    (26,594
    )
    
    (0.04
    )Interest Rates Non-U.S.
    
    
    6
    
    
    
    (17,337
    )
    
    (0.03
    )Indices
    
    
    2
    
    
    
    1,010
    
    
    0.00
    *Livestock
    
    
    9
    
    
    
    (10,860
    )
    
    (0.01
    )Softs
    
    
    8
    
    
    
    (1,200
    )
    
    (0.00
    )*Total futures contracts sold
    
    
    
    
    
    
    (57,718
    )
    
    (0.08
    )Unrealized Appreciation on Forward ContractsMetals
    
    
    20
    
    
    
    9,431
    
    
    0.01Total unrealized appreciation on forward contracts
    
    
    
    
    
    
    9,431
    
    
    0.01Unrealized Depreciation on Forward ContractsMetals
    
    
    11
    
    
    
    (52,456
    )
    
    (0.08
    )Total unrealized depreciation on forward contracts
    
    
    
    
    
    
    (52,456
    )
    
    (0.08
    )Investment
in JWH Master
    
    
    
    
    
    
    57,127,540
    
    
    87.52Total fair value
    
    
    
    
    
    $
    57,060,201
    
    
    87.42
    %





| |   |  |                
| | - |  | ---------------
| | * |  | Due to rounding





4



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##### Table of Contents



Smith
    Barney Westport Futures Fund L.P.
    Schedule of Investments
    December 31, 2008
    (Unaudited)
  Number of





% of PartnersContracts


Fair Value


CapitalFutures Contracts PurchasedCurrencies


19

$
31,587



0.03
%Interest Rates U.S.


27


123,247



0.15Interest Rates Non-U.S.


26


52,507



0.06Total futures contracts purchased





207,341



0.24Futures Contracts SoldCurrencies


14


(11,231
)


(0.01
)Energy


10


(7,254
)


(0.01
)Grains


11


(24,335
)


(0.03
)Indices


26


(19,647
)


(0.02
)Livestock


6


6,800



0.01Metals


6


(15,700
)


(0.02
)Softs


32


9,325



0.01Total futures contracts sold





(62,042
)


(0.07
)Unrealized Appreciation on Open Forward ContractsMetals


6


65,213



0.08Total unrealized appreciation on open forward contracts





65,213



0.08Unrealized Depreciation on Open Forward ContractsMetals


2


(2,225
)


(0.00
)*Total unrealized depreciation on open forward contracts





(2,225
)


(0.00
)*Investment in JWH Master





75,781,841



91.98Total fair value




$
75,990,128



92.23
% 
 *
    
    Due to rounding.   5




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##### Table of Contents



Smith Barney Westport Futures Fund L.P.Statements of Income and Expenses and Partners Capital
(Unaudited)
 Three Months Ended
    
    
    Six Months EndedJune 30,
    
    

June 30,2009
    
    

2008
    
    

2009
    
    

2008Income:Net gains
(losses) on trading of commodity interests and investment in JWH
Master:Net realized
gains (losses) on closed contracts
    
    $
    (380,196
    )
    
    $
    597,706
    
    
    $
    (296,735
    )
    
    $
    2,660,499Net realized
gains (losses) on investment in JWH Master
    
    
    (1,321,297
    )
    
    
    1,290,633
    
    
    
    (2,576,559
    )
    
    
    14,180,907Change in
net unrealized gains (losses) on open contracts
    
    
    (58,511
    )
    
    
    377,180
    
    
    
    (275,626
    )
    
    
    559,880Change in
net unrealized gains (losses) on investment in JWH Master
    
    
    698,944
    
    
    
    (396,154
    )
    
    
    (2,722,064
    )
    
    
    1,095,062Gain (loss) from trading, net
    
    
    (1,061,060
    )
    
    
    1,869,365
    
    
    
    (5,870,984
    )
    
    
    18,496,348Interest income
    
    
    2,063
    
    
    
    33,046
    
    
    
    4,630
    
    
    
    76,015Interest
income from JWH Master
    
    
    11,999
    
    
    
    147,210
    
    
    
    26,892
    
    
    
    336,306Total income (loss)
    
    
    (1,046,998
    )
    
    
    2,049,621
    
    
    
    (5,839,462
    )
    
    
    18,908,669Expenses:Brokerage
commissions, including clearing fees
    
    
    976,887
    
    
    
    856,636
    
    
    
    2,083,112
    
    
    
    1,720,216Management fees
    
    
    347,025
    
    
    
    303,869
    
    
    
    742,374
    
    
    
    607,417Other
    
    
    85,433
    
    
    
    63,026
    
    
    
    164,650
    
    
    
    156,666Total expenses
    
    
    1,409,345
    
    
    
    1,223,531
    
    
    
    2,990,136
    
    
    
    2,484,299Net income (loss)
    
    
    (2,456,343
    )
    
    
    826,090
    
    
    
    (8,829,598
    )
    
    
    16,424,370Additions  Limited Partners
    
    
    405,000
    
    
    
    626,000
    
    
    
    3,365,000
    
    
    
    2,844,000Additions 
General Partner
    
    
    200,000
    
    
    
    
    
    
    
    200,000
    
    
    
    Redemptions  Limited Partners
    
    
    (4,513,697
    )
    
    
    (3,379,320
    )
    
    
    (11,856,183
    )
    
    
    (5,962,256
    )Net increase (decrease) in Partners capital
    
    
    (6,365,040
    )
    
    
    (1,927,230
    )
    
    
    (17,120,781
    )
    
    
    13,306,114Partners Capital, beginning of period
    
    
    71,635,161
    
    
    
    62,591,293
    
    
    
    82,390,902
    
    
    
    47,357,949Partners Capital, end of period
    
    $
    65,270,121
    
    
    $
    60,664,063
    
    
    $
    65,270,121
    
    
    $
    60,664,063Net asset value per Unit
(40,255.6659 and 47,406.2530 Units
outstanding at June 30, 2009 and 2008, respectively)
    
    $
    1,621.39
    
    
    $
    1,279.66
    
    
    $
    1,621.39
    
    
    $
    1,279.66Net income (loss) per Redeemable Unit of Limited Partnership
Interest and General Partner Unit equivalent
    
    $
    (59.42
    )
    
    $
    18.02
    
    
    $
    (201.44
    )
    
    $
    322.85
   6




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##### Table of Contents



Smith
    Barney Westport Futures Fund L.P.
    Notes to Financial Statements
    June 30, 2009
    (Unaudited)  1.
    General:          Form 10-K
          7




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##### Table of Contents



Smith
    Barney Westport Futures Fund L.P.
    Notes to Financial Statements
    June 30, 2009 
    (Unaudited)
   2.
    Financial
    Highlights:   Three Months Ended
    
    
    Six Months EndedJune 30,
    
    

June 30,2009
    
    

2008
    
    

2009
    
    

2008Net realized and unrealized gains (losses) *
    
    $
    (49.42
    )
    
    $
    21.79
    
    
    $
    (181.31
    )
    
    $
    329.87Interest income
    
    
    0.34
    
    
    
    3.66
    
    
    
    0.73
    
    
    
    8.20Expenses **
    
    
    (10.34
    )
    
    
    (7.43
    )
    
    
    (20.86
    )
    
    
    (15.22
    )Increase (decrease) for the period
    
    
    (59.42
    )
    
    
    18.02
    
    
    
    (201.44
    )
    
    
    322.85Net Asset Value per Redeemable Unit of Limited
Partnerships Interest, beginning of period
    
    
    1,680.81
    
    
    
    1,261.64
    
    
    
    1,822.83
    
    
    
    956.81Net Asset Value per Redeemable
Unit of Limited
Partnerships Interest, end of period
    
    $
    1,621.39
    
    
    $
    1,279.66
    
    
    $
    1,621.39
    
    
    $
    1,279.66
 
 *
    
    Includes brokerage commissions**
    
    Excludes brokerage commissions  Three Months Ended
    
    

Six Months EndedJune 30,
    
    

June 30,2009
    
    

2008
    
    

2009
    
    

2008Ratios to Average Net Assets:***Net investment income (loss) before incentive fees****
    
    
    (8.1)
    %
    
    
    (7.0)
    %
    
    
    (8.1)
    %
    
    
    (7.2)
    %Operating expense
    
    
    8.2
    %
    
    
    8.2
    %
    
    
    8.2
    %
    
    
    8.6
    %Incentive fees
    
    
    
    %
    
    
    
    %
    
    
    
    %
    
    
    
    %Total expenses
    
    
    8.2
    %
    
    
    8.2
    %
    
    
    8.2
    %
    
    
    8.6
    %Total return:Total return before incentive fees
    
    
    (3.5)
    %
    
    
    1.4
    %
    
    
    (11.1)
    %
    
    
    33.7
    %Incentive fees
    
    
    
    %
    
    
    
    %
    
    
    
    %
    
    
    
    %Total return after incentive fees
    
    
    (3.5)
    %
    
    
    1.4
    %
    
    
    (11.1)
    %
    
    
    33.7
    %
  ***
    
    Annualized (other than incentive fees)****
    
    Interest income less total expenses   8




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##### Table of Contents



Smith
    Barney Westport Futures Fund L.P.
    Notes to Financial Statements
    June 30, 2009
    (Unaudited)
  3.
    Trading
    Activities:            Assets
    
    June 30, 2009
    
    
    Assets
    
    June 30, 2009Futures Contracts
    
    
    
    
    
    Forward ContractsCurrencies
    
    $
    14,412
    
    
    Metals
    
    $
    9,431Energy
    
    
    4,350Grains
    
    
    27,125Interest Rates U.S.
    
    
    797Interest Rates Non-U.S.
    
    
    42,082Indices
    
    
    7,103Softs
    
    
    33,725Total unrealized appreciation on
open futures contracts
    
    $
    129,594
    
    
    Total unrealized appreciation on open forward contracts


    
    $
    9,431Liabilities
    
    
    
    
    
    LiabilitiesFutures Contracts
    
    
    
    
    
    Forward ContractsCurrencies
    
    $
    (39,194
    )
    
    Metals
    
    
    (52,456
    )Energy
    
    
    (7,008
    )Grains
    
    
    (19,330
    )Interest Rates U.S.
    
    
    (30,953
    )Interest Rates Non-U.S.
    
    
    (17,337
    )Indices
    
    
    (5,936
    )Livestock
    
    
    (10,860
    )Softs
    
    
    (4,870
    )Metals
    
    
    (18,420
    )Total unrealized depreciation on
open futures contracts
    
    $
    (153,908
    )
    
    Total unrealized
depreciation on
open forward contracts
    
    $
    (52,456
    )Net unrealized depreciation 
on open futures contracts
    
    $
    (24,314
    )*
    
    Net unrealized
depreciation 
on open forward contracts
    
    $
    (43,025
    )**
 
 *
    
    This amount is included in Net unrealized depreciation on open futures contracts on the Statements of Financial Condition.**
    
    This amount is included in Net unrealized depreciation on open forward contracts on the Statements of Financial Condition. 9




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##### Table of Contents



Three Months Ended
June 30, 2009
  
  Six Months Ended
June 30, 2009Sector
  
  Gain (loss) from trading
  
  Gain (loss) from tradingCurrencies
  
  $
  (154,248
  )
  
  $
  (339,914
  )Energy
  
  
  (5,279
  )
  
  
  96,911Grains
  
  
  (4,188
  )
  
  
  (240
  )Interest Rates U.S.
  
  
  (82,695
  )
  
  
  (131,661
  )Interest Rates Non-U.S.
  
  
  (7,008
  )
  
  
  (34,389
  )Indices
  
  
  (6,577
  )
  
  
  39,396Livestock
  
  
  (10,950
  )
  
  
  1,630Metals
  
  
  (82,508
  )
  
  
  (112,473
  )Softs
  
  
  (85,254
  )
  
  
  (91,621
  )Total
  
  $
  (438,707
  )
  
  $
  (572,361
  )  4.
    Fair
    Value Measurements:  Investments.
  Fair Value Measurements. Fair Value Measurements No. FAS 157-2, Effective Date of FASB Statement No. 157
  10




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##### Table of Contents



Smith
    Barney Westport Futures Fund L.P.
    Notes to Financial Statements
   June 30, 2009
    (Unaudited)
    Quoted Prices inActive Markets for


Significant Other


SignificantIdentical Assets


Observable Inputs


Unobservable Inputs6/30/2009


(Level 1)


(Level 2)


(Level 3)AssetsInvestment in JWH Master

$
57,127,540


$



$
57,127,540


$
Total assets

$
57,127,540


$



$
57,127,540


$
LiabilitiesFutures

$
24,314


$
24,314


$



$
Forwards


43,025



43,025







Total liabilities


67,339



67,339







Total fair value

$
57,060,201


$
67,339


$
57,127,540


$
Quoted Prices inActive Markets for


Significant Other


SignificantIdentical Assets


Observable Inputs


Unobservable Inputs12/31/2008


(Level 1)


(Level 2)


(Level 3)AssetsForwards
    
    $
    62,988
    
    
    $
    62,988
    
    
    $
    
    
    
    $
    Futures
    
    
    145,299
    
    
    
    145,299
    
    
    
    
    
    
    
    Investment in JWH Master
    
    
    75,781,841
    
    
    
    
    
    
    
    75,781,841
    
    
    
    Total assets
    
    
    75,990,128
    
    
    
    208,287
    
    
    
    75,781,841
    
    
    
    Total fair value
    
    $
    75,990,128
    
    
    $
    208,287
    
    
    $
    75,781,841
    
    
    $
      5.
    Investment
    in Partnership:        give-up,
 11




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##### Table of Contents



Smith
    Barney Westport Futures Fund L.P.
    Notes to Financial Statements
    June 30, 2009
    (Unaudited)
      June 30, 2009Total Assets


Total Liabilities


Total CapitalJWH Master

$
68,332,760


$
23,145


$
68,309,615   December 31, 2008Total Assets


Total Liabilities


Total CapitalJWH Master

$
86,361,978


$
23,720


$
86,338,258   June 30, 2009
    
    
    
    
    
    
    For the three months ended June 30, 2009% of
    
    
    
    
    
    
    
    
    
    
    Expenses
    
    
    NetPartnerships
    
    
    Fair
    
    
    Income
    
    
    
    
    
    
    
    
    
    
    Income
    
    
    Investment
    
    
    RedemptionsInvestment
    
    Net Assets
    
    
    Value
    
    
    (Loss)
    
    
    Commissions
    
    
    Other
    
    
    (Loss)
    
    
    Objective
    
    
    PermittedJWH Master
    
    
    87.52%
    
    
    $
    57,127,540
    
    
    $
    (610,354
    )
    
    $
    15,987
    
    
    $
    12,399
    
    
    $
    (638,740
    )
    
    CommodityPortfolio
    
    MonthlyJune 30, 2009
    
    
    
    
    
    
    For the six months ended June 30, 2009% of
    
    
    
    
    
    
    
    
    
    
    Expenses
    
    
    NetPartnerships
    
    
    Fair
    
    
    Income
    
    
    
    
    
    
    
    
    
    
    Income
    
    
    Investment
    
    
    RedemptionsInvestment
    
    Net Assets
    
    
    Value
    
    
    (Loss)
    
    
    Commissions
    
    
    Other
    
    
    (Loss)
    
    
    Objective
    
    
    PermittedJWH Master
    
    
    87.52%
    
    
    $
    57,127,540
    
    
    $
    (5,271,731
    )
    
    $
    28,320
    
    
    $
    23,877
    
    
    $
    (5,323,928
    )
    
    CommodityPortfolio
    
    MonthlyDecember 31, 2008
    
    
    
    
    
    
    For the three months ended June 30, 2008% of
    
    
    
    
    
    
    
    
    
    
    Expenses
    
    
    NetPartnerships
    
    
    Fair
    
    
    Income
    
    
    
    
    
    
    
    
    
    
    Income
    
    
    Investment
    
    
    RedemptionsInvestment
    
    Net Assets
    
    
    Value
    
    
    (Loss)
    
    
    Commissions
    
    
    Other
    
    
    (Loss)
    
    
    Objective
    
    
    PermittedJWH Master
    
    
    91.98%
    
    
    $
    75,781,841
    
    
    $
    1,041,689
    
    
    $
    13,545
    
    
    $
    8,652
    
    
    $
    1,019,492
    
    
    CommodityPortfolio
    
    MonthlyDecember 31, 2008
    
    
    
    
    
    
    For the six months ended June 30, 2008% of
    
    
    
    
    
    
    
    
    
    
    Expenses
    
    
    NetPartnerships
    
    
    Fair
    
    
    Income
    
    
    
    
    
    
    
    
    
    
    Income
    
    
    Investment
    
    
    RedemptionsInvestment
    
    Net Assets
    
    
    Value
    
    
    (Loss)
    
    
    Commissions
    
    
    Other
    
    
    (Loss)
    
    
    Objective
    
    
    PermittedJWH Master
    
    
    91.98%
    
    
    $
    75,781,841
    
    
    $
    15,612,275
    
    
    $
    32,535
    
    
    $
    14,366
    
    
    $
    15,565,374
    
    
    CommodityPortfolio
    
    Monthly
  6.
    Financial
Instrument Risks:     12




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13




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##### Table of Contents



Item 2.
    Managements
    Discussion and Analysis of Financial Condition and Results of
    Operations.  Liquidity
    and Capital Resources
        Critical
    Accounting Policies
  Use of Estimates.
  Statement of Cash Flows.
  Investments.
  Fair Value Measurements. No. FAS 157-2, Effective Date of FASB Statement No. 157
  14




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Futures Contracts.
  London Metals Exchange Forward
    Contracts.
  Income Taxes.
      Recent Accounting Pronouncements.
 15




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Subsequent Events.
  Results
    of Operations
        16




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30-day 3-month and/or 90-day
       17




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Item 3.
    Quantitative
    and Qualitative Disclosures about Market Risk          one-day
 18




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##### Table of Contents



Form 10-K
  June 30,
    2009
    (Unaudited)
 Three months ended June 30, 2009% of Total
    
    
    High
    
    
    Low
    
    
    AverageMarket Sector
    
    Value at Risk
    
    
    Capitalization
    
    
    Value at Risk
    
    
    Value at Risk
    
    
    Value at Risk*Currencies
    
    $
    160,920
    
    
    
    0.25
    %
    
    $
    165,645
    
    
    $
    49,397
    
    
    
    112,077Energy
    
    
    47,338
    
    
    
    0.07
    %
    
    
    88,570
    
    
    
    33,878
    
    
    
    54,628Grains
    
    
    22,300
    
    
    
    0.03
    %
    
    
    39,690
    
    
    
    8,438
    
    
    
    24,584Interest Rates U.S.
    
    
    38,973
    
    
    
    0.06
    %
    
    
    56,295
    
    
    
    16,985
    
    
    
    35,847Interest Rates Non -U.S.
    
    
    38,883
    
    
    
    0.06
    %
    
    
    85,656
    
    
    
    38,883
    
    
    
    62,536Livestock
    
    
    9,720
    
    
    
    0.01
    %
    
    
    9,720
    
    
    
    6,024
    
    
    
    7,869Metals
    
    
    99,181
    
    
    
    0.15
    %
    
    
    99,193
    
    
    
    26,993
    
    
    
    52,208Softs
    
    
    69,240
    
    
    
    0.11
    %
    
    
    74,210
    
    
    
    24,450
    
    
    
    53,220Indices
    
    
    90,139
    
    
    
    0.14
    %
    
    
    93,977
    
    
    
    24,893
    
    
    
    55,612Totals
    
    $
    576,694
    
    
    
    0.88
    %
 *
    
    Average of month-end Values at Risk.    June 30,
    2009
    (Unaudited)
 Three months ended June 30, 2009% of Total
    
    
    High
    
    
    Low
    
    
    AverageMarket Sector
    
    Value at Risk
    
    
    Capital
    
    
    Value at Risk
    
    
    Value at Risk
    
    
    Value at Risk*Currencies
    
    $
    1,073,115
    
    
    
    1.57
    %
    
    $
    1,627,020
    
    
    $
    736,830
    
    
    $
    1,213,739Energy
    
    
    1,236,605
    
    
    
    1.81
    %
    
    
    1,446,605
    
    
    
    388,917
    
    
    
    916,107Grains
    
    
    645,435
    
    
    
    0.95
    %
    
    
    1,347,300
    
    
    
    198,315
    
    
    
    789,373Interest Rates U.S.
    
    
    661,500
    
    
    
    0.97
    %
    
    
    1,003,050
    
    
    
    51,395
    
    
    
    633,841Interest Rates Non
-U.S.
    
    
    272,759
    
    
    
    0.40
    %
    
    
    1,285,778
    
    
    
    272,759
    
    
    
    697,505Metals
    
    
    476,901
    
    
    
    0.70
    %
    
    
    1,420,034
    
    
    
    205,149
    
    
    
    743,116Softs
    
    
    418,990
    
    
    
    0.61
    %
    
    
    850,440
    
    
    
    234,860
    
    
    
    547,027Indices
    
    
    356,354
    
    
    
    0.52
    %
    
    
    383,436
    
    
    
    153,748
    
    
    
    300,071Total
    
    $
    5,141,659
    
    
    
    7.53
    %
   *
    
    Average of month-end Values at Risk. 19




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##### Table of Contents



Item 4T.
    Controls
    and Procedures      Rules 13a-15(e) 15d-15(e)
  internal control over financial
    reporting
  
    pertain to the maintenance of records that in reasonable detail
    accurately and fairly reflect the transactions and dispositions
    of the assets of the Partnership;
    provide reasonable assurance that (i) transactions are
    recorded as necessary to permit preparation of financial
    statements in accordance with GAAP, and (ii) the Partnerships
    receipts are handled and expenditures are made only pursuant to
    authorizations of the General Partner; and
    provide reasonable assurance regarding prevention or timely
    detection of unauthorized acquisition, use or disposition of the
    Partnerships assets that could have a material effect on
    the financial statements.   20




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PART II.
    OTHER INFORMATION  Item 1.
    Legal
    Proceedings Form 10-K
 Enron-Related Civil Actions
 Acquisition
Partners, L.P., et al. v. J.P. Morgan Chase & Co., et al., Avenue Capital Management II, L.P.,
et al. v. J.P. Morgan Chase & Co., et al. UniCredito Italiano, SpA, et al. v. J.P. Morgan Chase Bank, et. al.
 Subprime Mortgage-Related Litigation
 Buckingham v. Citigroup Inc., et al. Chen v. Citigroup Inc., et al. In re Citigroup Inc. Bond Litigation.
 Asher, et al. v. Citigroup Inc., et al. In re Citigroup Inc. Bond Litigation Asher, et al. v. Citigroup Inc., et al. Pellegrini v. Citigroup Inc., et al. In re Citigroup Inc. Bond Litigation
 Epirus Capital Management, LLC, et al. v. Citigroup Inc., et al. In re Citigroup Inc. Securities Litigation
 Auction Rate Securities-Related Litigation
 Securities Actions. American Eagle Outfitters, Inc., et al. v. Citigroup Global
Markets Inc. In re Citigroup Inc. Auction Rate Securities Litigation Finn v. Smith Barney, et al.
 Texas Instruments Inc. v. Citigroup Global Markets Inc. et al.
 Governmental and Regulatory Actions.
 21




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Falcon and ASTA/MAT-Related Litigation
 Marie Raymond Revocable Trust, et al. v. MAT Five LLC, et al.
 In re MAT Five Securities Litigation.
 ECA Acquisitions, Inc., et al. v. MAT Three LLC, et al.
 Zentner v. Citigroup, et al. In re MAT Two Securities
Litigation, In re MAT Three Securities Litigation and In re MAT Five Securities Litigation.) In re MAT Five Securities
Litigation
 Zentner v. Citigroup, et al.
 Other Matters
 Underwriting Actions .
 American Home Mortgage In re American
Home Mortgage Securities Litigation
 American International Group In re American International Group, Inc. 2008 Securities Litigation
 22




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##### Table of Contents



Item 1A.
    Risk
    Factors  Form 10-K
  Item 2.
    Unregistered
    Sales of Equity Securities and Use of Proceeds        (d) Maximum Number(or Approximate(c) Total Number



Dollar Value) of Sharesof Shares (or Units)



(or Units) that(a) Total Number



(b) Average



Purchased as Part



May Yet Beof Shares



Price Paid per



of Publicly Announced



Purchased Under thePeriod


(or Units) Purchased*



Share (or Unit)**



Plans or Programs



Plans or ProgramsApril 1, 2009 - 
    April 30, 2009



1,177.3900



$
1,626.73




N/A




N/AMay 1, 2009 -
    May 31, 2009



963.9909



$
1,716.13




N/A




N/AJune 1, 2009 -
    June 30, 2009



582.2580



$
1,621.39




N/A




N/A2,723.6389



$
1,657.23   *
    
    Generally, Limited Partners are permitted to redeem their
    Redeemable Units as of the last day of each month on
    10 days notice to the General Partner. Under certain
    circumstances, the General Partner can compel redemption but to
    date the General Partner has not exercised this right. Purchases
    of Redeemable Units by the Partnership reflected in the chart
    above were made in the ordinary course of the Partnerships
    business in connection with effecting redemptions for Limited
    Partners.**
    
    Redemptions of Redeemable Units are effected as of the last day
    of each month at the Net Asset Value per Redeemable Unit as of
    that day. No fee will be charged for redemptions.  Item 3.
    Defaults
    Upon Senior Securities  None  Item 4.
    Submission
    of Matters to a Vote of Security Holders 
    None  Item 5.
    Other
    Information Morgan Stanley/Citigroup Joint Venture
  23




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Item 6.
    Exhibits  Regulation S-K Form 10-K
    Exhibit  31.1  Rule 13a-14(a)/15d-14(a)
  Exhibit  31.2  Rule 13a-14(a)/15d-14(a)
     24




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##### Table of Contents



SIGNATURES
    SMITH BARNEY WESTPORT FUTURES FUND L.P.
  By:
    Citigroup Managed Futures LLC    By:
    /s/  Jerry
    Pascucci     Date: August 14, 2009  By:
    /s/  Jennifer
    Magro     Date: August 14, 2009 25