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 ended March 31, 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




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##### 





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


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

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

4  5Statements of Income and Expenses and
    Partners Capital for the three months ended
    March 31, 2009 and 2008 (unaudited)

6Notes to Financial Statements (unaudited)

7  12Item
    2.


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

13  16Item
    3.


Quantitative and Qualitative Disclosures about Market Risk

17  18Item
    4T.


Controls and Procedures

19PART II  Other Information

20 - 25  2




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##### 



PART I  Item 1.
    Financial Statements  Smith Barney Westport Futures Fund L.P.
Statements of Financial Condition
(Unaudited) March 31,
    
    
    December 31,2009
    
    
    2008Assets:Investment
in JWH Master, at fair value
    
    $
    63,664,759
    
    
    $
    75,781,841Equity in trading account:Cash
    
    
    10,926,660
    
    
    
    11,872,187Cash margin
    
    
    474,160
    
    
    
    771,833Net unrealized appreciation on open futures contracts
    
    
    38,335
    
    
    
    145,299Net unrealized appreciation on open forward contracts
    
    
    
    
    
    
    62,98875,103,914
    
    
    
    88,634,148Interest receivable
    
    
    1,031
    
    
    
    177Total assets
    
    $
    75,104,945
    
    
    $
    88,634,325Liabilities and Partners CapitalLiabilities:Net unrealized depreciation on open forward contracts
    
    $
    47,163
    
    
    $
    Accrued expenses:Brokerage commissions
    
    
    344,015
    
    
    
    406,241Management fees
    
    
    124,413
    
    
    
    146,857Incentive fees
    
    
    
    
    
    
    1,908,225Other
    
    
    66,220
    
    
    
    113,634Redemptions payable
    
    
    2,887,973
    
    
    
    3,668,466Total liabilities
    
    
    3,469,784
    
    
    
    6,243,423Partners Capital:General Partner 390.1941 Unit equivalents
outstanding at March 31, 2009 and December 31, 2008, respectively
    
    
    655,842
    
    
    
    711,258Limited Partners, 42,229.1652 and 44,809.2848
Redeemable Units of Limited Partnership Interest
outstanding at March 31, 2009 and December 31, 2008, respectively
    
    
    70,979,319
    
    
    
    81,679,644Total partners capital
    
    
    71,635,161
    
    
    
    82,390,902Total liabilities and partners capital
    
    $
    75,104,945
    
    
    $
    88,634,325
   3




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##### 



Smith Barney Westport Futures Fund L.P.
Schedule of Investments
March 31, 2009
(Unaudited) Number of
    
    
    
    
    
    % of PartnersContracts
    
    Fair Value
    
    
    CapitalFutures Contracts PurchasedCurrencies
    
    
2
    
    $
    (3,150
    )
    
    
    (0.00
    )%*Grains
    
    
1
    
    
    (475
    )
    
    
    (0.00
    )*Interest Rates U.S.
    
    
27
    
    
    40,859
    
    
    
    0.06Interest Rates Non-U.S.
    
    
24
    
    
    18,248
    
    
    
    0.03Indices
    
    
5
    
    
    (6,720
    )
    
    
    (0.01
    )Metals
    
    
3
    
    
    (4,260
    )
    
    
    (0.00
    )*Softs
    
    
13
    
    
    8,520
    
    
    
    0.01Total futures contracts purchased
    
    

    
    
    53,022
    
    
    
    0.09Futures Contracts SoldCurrencies
    
    
22
    
    
    (12,300
    )
    
    
    (0.02
    )Energy
    
    
10
    
    
    25,099
    
    
    
    0.04Grains
    
    
9
    
    
    (19,361
    )
    
    
    (0.03
    )Indices
    
    
10
    
    
    (12,063
    )
    
    
    (0.02
    )Livestock
    
    
6
    
    
    3,360
    
    
    
    0.00
    *Softs
    
    
10
    
    
    578
    
    
    
    0.00
    *Total futures contracts sold
    
    

    
    
    (14,687
    )
    
    
    (0.03
    )Net unrealized appreciation on open futures contracts
    
    

    
    
    38,335
    **
    
    
    0.06Unrealized Appreciation on Open Forward ContractsMetals
    
    
5
    
    
    7,737
    
    
    
    0.01Total unrealized appreciation on open forward contracts
    
    

    
    
    7,737
    
    
    
    0.01Unrealized Depreciation on Open Forward ContractsMetals
    
    
8
    
    
    (54,900
    )
    
    
    (0.08
    )Total unrealized depreciation on open forward contracts
    
    

    
    
    (54,900
    )
    
    
    (0.08
    )Net unrealized depreciation on open forward contracts
    
    

    
    
    (47,163
    )***
    
    
    (0.07
    )Investment in JWH Master
    
    

    
    
    63,664,759
    
    
    
    88.87Total fair value
    
    

    
    $
    63,655,931
    
    
    
    88.86
    %
 
 *
    
    Due to rounding**
    
    This amount is included in  Net unrealized appreciation 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   4




---



##### 



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
)Net unrealized appreciation on open futures contracts





145,299
**


0.17Unrealized 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
)*Net unrealized
appreciation on open forward contracts





62,988
***


0.08Investment in JWH Master





75,781,841



91.98Total fair value




$
75,990,128



92.23
% 
 *
    
    Due to rounding**
    
    This amount is included in  Net unrealized appreciation on
open futures contracts on the Statements of Financial Condition***
    
    This amount is included in  Net unrealized appreciation on
open forward contracts on the Statements of Financial Condition   5




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##### 



Smith Barney Westport Futures Fund L.P.
Statements of Income and Expenses and Partners Capital
(Unaudited)
 Three Months EndedMarch 31,2009
    
    
    2008Income:Net gains
(losses) on trading of commodity interests and investment in JWH
Master:Net realized
gains (losses) on closed contracts
    
    $
    83,460
    
    
    $
    2,062,793Net realized
gains (losses) on investment in JWH Master
    
    
    (1,255,261
    )
    
    
    12,890,274Change in
net unrealized gains (losses) on open contracts
    
    
    (217,115
    )
    
    
    182,700Change in
net unrealized gains (losses) on investment in JWH Master
    
    
    (3,421,008
    )
    
    
    1,491,216Gain (loss) from trading, net
    
    
    (4,809,924
    )
    
    
    16,626,983Interest income
    
    
    2,569
    
    
    
    42,969Interest
income from JWH Master
    
    
    14,891
    
    
    
    189,096Total income (loss)
    
    
    (4,792,464
    )
    
    
    16,859,048Expenses:Brokerage
commissions, including clearing fees
    
    
    1,106,225
    
    
    
    863,580Management fees
    
    
    395,349
    
    
    
    303,548Other expenses
    
    
    79,217
    
    
    
    93,640Total expenses
    
    
    1,580,791
    
    
    
    1,260,768Net income (loss)
    
    
    (6,373,255
    )
    
    
    15,598,280Additions  Limited Partners
    
    
    2,960,000
    
    
    
    2,218,000Redemptions  Limited Partners
    
    
    (7,342,486
    )
    
    
    (2,582,936
    )Net increase (decrease) in Partners capital
    
    
    (10,755,741
    )
    
    
    15,233,344Partners capital, beginning of period
    
    
    82,390,902
    
    
    
    47,357,949Partners Capital, end of period
    
    $
    71,635,161
    
    
    $
    62,591,293Net asset value per Unit
(42,619.3593 and 49,611.1013 Units
outstanding at March 31, 2009 and 2008, respectively)
    
    $
    1,680.81
    
    
    $
    1,261.64Net income (loss) per Redeemable Unit of Limited Partnership
Interest and General Partner Unit equivalent
    
    $
    (142.02
    )
    
    $
    304.83
   6




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##### 



Smith
    Barney Westport Futures Fund L.P.
    Notes to Financial Statements
    March 31, 2009
    (Unaudited)  1.
    General:      Global Wealth Management
    Form 10-K
          7




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##### 



Smith
    Barney Westport Futures Fund L.P.
    Notes to Financial Statements
    March 31, 2009 
    (Unaudited)
   2.
    Financial
    Highlights:   Three Months EndedMarch 31,2009
    
    
    2008Net realized and unrealized gains (losses) *
    
    $
    (131.89
    )
    
    $
    308.08Interest income
    
    
    0.39
    
    
    
    4.54Expenses **
    
    
    (10.52
    )
    
    
    (7.79
    )Increase
(decrease) for the period
    
    
    (142.02
    )
    
    
    304.83Net Asset
Value per Redeemable Unit of Limited Partnership Interest, beginning of period
    
    
    1,822.83
    
    
    
    956.81Net Asset Value per Redeemable Unit of Limited Partnership Interest, end of period
    
    $
    1,680.81
    
    
    $
    1,261.64
 
 *
    
    Includes brokerage commissions**
    
    Excludes brokerage commissions  Three Months EndedMarch 31,2009


2008Ratios to Average Net Assets:***Net investment income (loss) before incentive fees****
    
    
    (8.1
    )%
    
    
    (7.2
    )%Operating expense
    
    
    8.1
    %
    
    
    9.0
    %Incentive fees
    
    
    
    %
    
    
    
    %Total expenses
    
    
    8.1
    %
    
    
    9.0
    %Total return:Total return before incentive fees
    
    
    (7.8
    )%
    
    
    31.9
    %Incentive fees
    
    
    
    %
    
    
    
    %Total return after incentive fees
    
    
    (7.8
    )%
    
    
    31.9
    %
  ***
    
    Annualized (other than incentive fees)****
    
    Interest income less total expenses   8




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##### 



Smith
    Barney Westport Futures Fund L.P.
    Notes to Financial Statements
    March 31, 2009
    (Unaudited)
  3.
    Trading
    Activities:           March 31, 2009Gain (loss)Sector
  
 from tradingCurrencies
  
  $
  (185,666
  )Energy
  
  
  102,191Grains
  
  
  3,948Interest Rates U.S.
  
  
  (48,966
  )Interest Rates Non-U.S.
  
  
  (27,382
  )Indices
  
  
  45,973Livestock
  
  
  12,580Metals
  
  
  (29,966
  )Softs
  
  
(6,367
  ))Total
  
  $
  (133,655
  ))  4.
    Fair
    Value Measurements:  Investments.
  Fair Value Measurements. Fair Value Measurements No. FAS 157-2, Effective Date of FASB Statement No. 157
  9




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##### 



Smith
    Barney Westport Futures Fund L.P.
    Notes to Financial Statements
   March 31, 2009
    (Unaudited)
    Quoted Prices inActive Markets for


Significant Other


SignificantIdentical Assets


Observable Inputs


Unobservable Inputs3/31/2009


(Level 1)


(Level 2)


(Level 3)AssetsFutures

$
38,335


$
38,335


$



$
Investment in JWH Master


63,664,759







63,664,759



Total assets

$
63,703,094


$
38,335


$
63,664,759


$
LiabilitiesForwards

$
47,163


$
47,163


$



$
Total liabilities


47,163



47,163







Total fair value

$
63,655,931


$
(8,828
)

$
63,664,759


$
   5.
    Investment
    in Partnership:        give-up,
 10




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##### 



Smith
    Barney Westport Futures Fund L.P.
    Notes to Financial Statements
    March 31, 2009
    (Unaudited)
      March 31, 2009Total Assets


Total Liabilities


Total CapitalJWH Master

$
71,470,545


$
394,833


$
71,075,712   December 31, 2008Total Assets


Total Liabilities


Total CapitalJWH Master

$
86,361,978


$
23,720


$
86,338,258   March 31, 2009
    
    
For the three months ended March 31, 2009% of
    
    
    
    
    
    
    
    
    Expenses
    
    NetPartnerships
    
    Fair
    
    Income
    
    
    
    
    
    
    
    
    
    Income
    
    Investment
    
    RedemptionsInvestment
    
    Net Assets
    
    Value
    
    (Loss)
    
    Commissions
    
    Other
    
    (Loss)
    
    Objective
    
    PermittedCommodityJWH Master
    
    
    88.87%
    
    
    $
    63,664,759
    
    
    $
    (4,661,378
    )
    
    $
    12,333
    
    $
    11,478
    
    
    $
    (4,685,189
    )
    
    Portfolio
    
    MonthlyDecember 31, 2008
    
    
For
the three months ended March 31, 2008% of
    
    
    
    
    
    
    
    
    Expenses
    
    NetPartnerships
    
    Fair
    
    Income
    
    
    
    
    
    
    
    
    
    Income
    
    Investment
    
    RedemptionsInvestment
    
    Net Assets
    
    Value
    
    (Loss)
    
    Commissions
    
    Other
    
    (Loss)
    
    Objective
    
    PermittedCommodityJWH Master
    
    
    91.98%
    
    
    $
    75,781,841
    
    
    $
    14,570,586
    
    
    $
    18,990
    
    $
    5,714
    
    
    $
    14,545,882
    
    
    Portfolio
    
    Monthly
  6.
    Financial
Instrument Risks:     11




---



##### 



12




---



##### 



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. Fair Value Measurements No. FAS 157-2, Effective Date of FASB Statement No. 157
  13




---



##### 



Futures Contracts.
  London Metals Exchange Forward
    Contracts.
  Income Taxes.
      Recent Accounting Pronouncements
 14




---



##### 



Results
    of Operations
           15




---



##### 



30-day 3-month and/or 90-day
       16




---



##### 



Item 3.
    Quantitative
    and Qualitative Disclosures about Market Risk          one-day
 17




---



##### 



Form 10-K
  March 31,
    2009
    (Unaudited)
 Three months ended March 31, 2009% of Total
    
    
    High
    
    
    Low
    
    
    AverageMarket Sector
    
    Value at Risk
    
    
    Capitalization
    
    
    Value at Risk
    
    
    Value at Risk
    
    
    Value at Risk*Currencies
    
    $
    70,760
    
    
    
    0.10
    %
    
    $
    163,110
    
    
    $
    70,760
    
    
    
    $124,120Energy
    
    
    57,520
    
    
    
    0.08
    %
    
    
    68,520
    
    
    
    57,520
    
    
    
    59,853Grains
    
    
    11,655
    
    
    
    0.02
    %
    
    
    23,000
    
    
    
    11,655
    
    
    
    19,218Interest Rates U.S.
    
    
    41,700
    
    
    
    0.06
    %
    
    
    45,800
    
    
    
    41,000
    
    
    
    44,433Interest Rates Non -U.S.
    
    
    65,511
    
    
    
    0.09
    %
    
    
    99,029
    
    
    
    63,548
    
    
    
    75,888Livestock
    
    
    7,200
    
    
    
    0.01
    %
    
    
    8,400
    
    
    
    7,200
    
    
    
    7,600Metals
    
    
    32,694
    
    
    
    0.04
    %
    
    
    86,155
    
    
    
    32,689
    
    
    
    64,822Softs
    
    
    37,250
    
    
    
    0.05
    %
    
    
    68,250
    
    
    
    37,250
    
    
    
    52,967Indices
    
    
    76,415
    
    
    
    0.11
    %
    
    
    165,287
    
    
    
    73,361
    
    
    
    119,535Totals
    
    $
    400,705
    
    
    
    0.56
    %
 *
    
    Average of month-end Values at Risk    March 31,
    2009
    (Unaudited)
 Three months ended March 31, 2009% of Total
    
    
    High
    
    
    Low
    
    
    AverageMarket Sector
    
    Value at Risk
    
    
    Capital
    
    
    Value at Risk
    
    
    Value at Risk
    
    
    Value at Risk*Currencies
    
    $
    952,660
    
    
    
    1.34
    %
    
    $
    1,275,400
    
    
    $
    201,490
    
    
    $
    1,034,353Energy
    
    
    311,112
    
    
    
    0.44
    %
    
    
    1,744,940
    
    
    
    287,732
    
    
    
    1,164,621Grains
    
    
    234,000
    
    
    
    0.33
    %
    
    
    912,000
    
    
    
    53,570
    
    
    
    408,583Interest Rates U.S.
    
    
    743,000
    
    
    
    1.04
    %
    
    
    743,000
    
    
    
    44,000
    
    
    
    365,489Interest Rates Non -U.S.
    
    
    867,713
    
    
    
    1.22
    %
    
    
    1,028,350
    
    
    
    272,607
    
    
    
    620,214Metals
    
    
    395,961
    
    
    
    0.56
    %
    
    
    1,047,852
    
    
    
    133,362
    
    
    
    651,237Softs
    
    
    314,000
    
    
    
    0.44
    %
    
    
    594,900
    
    
    
    48,000
    
    
    
    350,150Indices
    
    
    154,043
    
    
    
    0.22
    %
    
    
    574,621
    
    
    
    16,000
    
    
    
    426,439Total
    
    $
    3,972,489
    
    
    
    5.59
    %
   *
    
    Average of month-end Values at Risk 18




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##### 



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.   19




---



##### 



PART II.
    OTHER INFORMATION  Item 1.
    Legal
    Proceedings  Form 10-K
 Enron-Related Civil Actions
 DK 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.
 Research Analyst Litigation
 In Re Salomon Analyst Metromedia Litigation
 Subprime-Mortgage-Related Litigation and Other Matters
 In Re Citigroup Inc.
Bond Litigation
 Buckingham v.
Citigroup Inc , et al. Chen v. Citigroup Inc et al. In Re Citigroup Inc Bond Litigation Pellegrini v. Citigroup Inc et al. Pellegrini In Re Citigroup Inc Bond Litigation
 Brecher v. Citigroup Inc et al. Brecher In Re Citigroup Inc. Bond
Litigation
  Auction Rate Securities
 In Re Citigroup Inc Auction Rate Securities Litigation In Re Citigroup Inc. Auction Rate Securities
Litigation.
 Mayor & City Council Of
Baltimore, Maryland v. Citigroup Inc et al. Mayfield v. Citigroup Inc et al.
 20




---



##### 



Other Matters
 In re MAT Five Securities Litigation Marie Raymond
Revocable rust et al. v. MAT Five LLC, et al.
 Puglisi v. Citigroup Alternative
Investments LLC, et al. In Re MAT Five Securities
Litigation Goodwill v. MAT Five LLC,
et al. Marie Raymond Revocable Trust, et al. v. MAT Five LLC, et al ECA
Acquisitions, Inc. et al. v. MAT Three LLC, et al., Hahn, et al. v. Citigroup Inc., et
al, Marie Raymond Revocable Trust
  21




---



##### 



Item 1A.
    Risk
    Factors  Form 10-K
  Item 2.
    Unregistered
    Sales of Equity Securities and Use of Proceeds     22




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##### 



(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 ProgramsJanuary 1, 2009 - 
    January 31, 2009



1,611.5344



$
1,771.96




N/A




N/AFebruary 1, 2009 -
    February 28, 2009



892.5134



$
1,791.50




N/A




N/AMarch 1, 2009 -
    March 31, 2009



1,718.2030



$
1,680.81




N/A




N/A4,222.2508



$
1,739.00   *
    
    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  None 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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##### 



SIGNATURES
    SMITH BARNEY WESTPORT FUTURES FUND L.P.
  By:
    Citigroup Managed Futures LLC    By:
    /s/  Jerry
    Pascucci     Date: May 15, 2009  By:
    /s/  Jennifer
    Magro     Date: May 15, 2009 25