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 endedMarch 31, 2011
  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
  WESTPORT JWH FUTURES FUND L.P.
     New York

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

(I.R.S. Employer
    Identification No.)   c/o Ceres
    Managed Futures LLC
    522 Fifth Ave  14th Floor
    New York, New York 10036
     (212) 296-1999
       Yes X  No
   Yes   No
    Large
    accelerated filer
    Accelerated filer
    Non-accelerated filer X
    Smaller
reporting company  Rule 12b-2
  Yes   No X




---



##### 



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


Financial Statements:Statements of Financial Condition at
    March 31, 2011 (unaudited)  and December 31, 2010

3Condensed Schedules of Investments at
    March 31, 2011 (unaudited)  and December 31, 2010

4  5Statements of Income and Expenses and
    Changes in Partners Capital for the three months ended
    March 31, 2011 and 2010 (unaudited)

6Notes to Financial Statements including the Financial Statements of JWH
Master Fund LLC (unaudited)

7  22Item
    2.


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

23  25Item
    3.


Quantitative and Qualitative Disclosures about Market Risk

26   28Item
    4.


Controls and Procedures

29PART II  Other Information

30 - 33ExhibitsEx. 31.1 Certification
Ex. 31.2 Certification
Ex. 32.1 Certification
Ex. 32.2 Certification   2




---



##### 



PART I  Item 1.
    Financial Statements  Westport
JWH Futures Fund L.P.
Statements of Financial Condition (unaudited)March 31,
    
    
    December 31,2011
    
    
    2010Assets:Investment in JWH Master, at fair value
    
    $
    59,853,797
    
    
    $
    56,636,675Equity in trading account:Cash
    
    
    7,667,104
    
    
    
    7,604,362Cash margin
    
    
    1,056,104
    
    
    
    735,316Net
unrealized appreciation on open futures contracts
    
    
    321,513
    
    
    
    329,705Net unrealized appreciation on open forward contracts
    
    
    
    
    
    
    99,71268,898,518
    
    
    
    65,405,770Interest receivable
    
    
    369
    
    
    
    544Total assets
    
    $
    68,898,887
    
    
    $
    65,406,314Liabilities and Partners CapitalLiabilities:Net unrealized depreciation on open forward contracts
    
    $
    13,006
    
    
    $
    Accrued expenses:Brokerage fees
    
    
    301,373
    
    
    
    299,779Management fees
    
    
    114,091
    
    
    
    108,308Incentive fees
    
    
    612
    
    
    
    Other
    
    
    129,359
    
    
    
    121,685Redemptions payable
    
    
    1,107,606
    
    
    
    180,831Total liabilities
    
    
    1,666,047
    
    
    
    710,603Partners Capital:General
Partner, 400.0879 unit equivalents
outstanding  at March 31, 2011 and December 31, 2010
    
    
    721,398
    
    
    
    696,573Limited
Partners, 36,887.2105 and 36,758.9460 Redeemable Units outstanding
at March 31, 2011 and December 31, 2010, respectively
    
    
    66,511,442
    
    
    
    63,999,138Total partners capital
    
    
    67,232,840
    
    
    
    64,695,711Total liabilities and partners capital
    
    $
    68,898,887
    
    
    $
    65,406,314Net asset value per unit
    
    $
    1,803.10
    
    
    $
    1,741.05
   3




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##### 



Westport JWH Futures Fund L.P.
    Condensed Schedule of Investments
March 31, 2011
    (Unaudited) Number of
    
    
    
    
    
    
    % of PartnersContracts
    
    
    Fair Value
    
    
    CapitalFutures Contracts PurchasedCurrencies
    
    
    69
    
    
    $
    33,362
    
    
    
    0.05
    %Energy
    
    
    21
    
    
    
    59,210
    
    
    
    0.09Grains
    
    
    40
    
    
    
    19,963
    
    
    
    0.03Indices
    
    
    17
    
    
    
    20,444
    
    
    
    0.03Interest Rates U.S.
    
    
    32
    
    
    
    (8,400
    )
    
    
    (0.01
    )Interest Rates Non-U.S.
    
    
    3
    
    
    
    1,448
    
    
    
    0.00
    *Livestock
    
    
    8
    
    
    
    28,480
    
    
    
    0.04Metals
    
    
    6
    
    
    
    9,650
    
    
    
    0.01Softs
    
    
    18
    
    
    
    182,713
    
    
    
    0.27Total futures contracts purchased
    
    
    
    
    
    
    346,870
    
    
    
    0.51Futures Contracts SoldIndices
    
    
    3
    
    
    
    (26,789
    )
    
    
    (0.04
    )Interest Rates U.S.
    
    
    14
    
    
    
    (2,125
    )
    
    
    (0.00
    )*Interest Rates Non-U.S.
    
    
    46
    
    
    
    5,527
    
    
    
    0.00
    *Softs
    
    
    2
    
    
    
    (1,970
    )
    
    
    (0.00
    )*Total futures contracts sold
    
    
    
    
    
    
    (25,357
    )
    
    
    (0.04
    )Unrealized Appreciation on Open Forward ContractsMetals
    
    
    7
    
    
    
    13,431
    
    
    
    0.02Total unrealized appreciation on open forward contracts
    
    
    
    
    
    
    13,431
    
    
    
    0.02Unrealized Depreciation on Open Forward ContractsMetals
    
    
    6
    
    
    
    (26,437
    )
    
    
    (0.04
    )Total unrealized depreciation on open forward contracts
    
    
    
    
    
    
    (26,437
    )
    
    
    (0.04
    )Investment in JWH Master
    
    
    
    
    
    
    59,853,797
    
    
    
    89.03Net fair value
    
    
    
    
    
    $
    60,162,304
    
    
    
    89.48
    %
  
  
 4




---



##### 



Westport JWH Futures Fund L.P.
    Condensed Schedule of Investments
    December 31, 2010
  Number of





% of PartnersContracts


Fair Value


CapitalFutures Contracts PurchasedCurrencies


26


$
121,719



0.19
%Energy


14



24,947



0.04Grains


40



142,491



0.22Indices


39



(1,191
)


(0.00
)*Livestock


8



11,920



0.02Metals


6



56,575



0.09Softs


27



35,342



0.05Total futures contracts purchased






391,803



0.61Futures Contracts SoldCurrencies


6



(13,875
)


(0.02
)Energy


10



(12,500
)


(0.02
)Interest Rates U.S.


13



(4,644
)


(0.01
)Interest Rates Non-U.S.


25



(31,079
)


(0.05
)Total futures contracts sold






(62,098
)


(0.10
)Unrealized Appreciation on Open Forward ContractsMetals


11



99,712



0.15Total unrealized appreciation on open forward contracts






99,712



0.15Investment in JWH Master






56,636,675



87.54Net fair value





$
57,066,092



88.20
%  
 *
    
    Due to rounding.   5




---



##### 



Westport
JWH Futures Fund L.P.Statements of Income and Expenses and Changes in Partners Capital
(Unaudited)
 Three Months EndedMarch 31,2011
    
    
    2010Investment income:Interest income
    
    $
    1,728
    
    
    $
    962Interest
income from investment in JWH   Master
    
    
    11,357
    
    
    
    5,066Total
investment income
    
    
    13,085
    
    
    
    6,028Expenses:Brokerage
fees including clearing fees
    
    
    937,645
    
    
    
    714,015Management fees
    
    
    341,672
    
    
    
    252,415Incentive
fees
    
    
    612
    
    
    
    Other expenses
    
    
    117,134
    
    
    
    88,483Total expenses
    
    
    1,397,063
    
    
    
    1,054,913Net investment income (loss)
    
    
    (1,383,978
    )
    
    
    (1,048,885
    )Trading Results:Net gains (losses) on trading of commodity interests and investment in JWH MasterNet realized gains (losses) on closed contracts
    
    
    329,298
    
    
    
    (278,724
    )Net realized gains (losses) on investment in JWH Master
    
    
    3,553,144
    
    
    
    (3,378,594
    )Change in net unrealized gains (losses) on open contracts
    
    
    (120,910
    )
    
    
    60,102Change in net unrealized gains (losses) on investment in JWH Master
    
    
    (38,313
    )
    
    
    1,543,855Total
trading results
    
    
    3,723,219
    
    
    
    (2,053,361
    )Net income (loss)
    
    
    2,339,241
    
    
    
    (3,102,246
    )Subscriptions-Limited Partners
    
    
    2,081,872
    
    
    
    285,000Redemptions-Limited Partners
    
    
    (1,883,984
    )
    
    
    (1,185,026
    )Net increase (decrease) in Partners capital
    
    
    2,537,129
    
    
    
    (4,002,272
    )Partners Capital, beginning of period
    
    
    64,695,711
    
    
    
    53,461,385Partners Capital, end of period
    
    $
    67,232,840
    
    
    $
    49,459,113Net asset
value per unit (37,287.2984 and 37,242.6177 units outstanding at
March 31, 2011 and 2010, respectively)
    
    $
    1,803.10
    
    
    $
    1,328.02Net income (loss) per unit*
    
    $
    62.05
    
    
    $
    (81.41
    )Weighted average units outstanding
    
    
    37,786.4854
    
    
    
    37,867.0203
 *
    
    Based on change in net asset value per unit.   6




---



##### 



Westport JWH Futures Fund L.P.
    Notes to Financial Statements
    March 31, 2011
    (Unaudited)  1.
    General:          Form 10-K
       7




---



##### 



Westport JWH Futures Fund L.P.
    Notes to Financial Statements
March 31, 2011 
    (Unaudited)
 2.
    Financial
    Highlights:   Three Months EndedMarch 31,2011
    
    
    2010Net realized and unrealized gains (losses) *
    
    $
    73.87
    
    
    $
    (72.57
    )Interest Income
    
    
    0.36
    
    
    
    0.16Expenses **
    
    
    (12.18
    )
    
    
    (9.00
    )Increase (decrease) for the period
    
    
    62.05
    
    
    
    (81.41
    )Net asset value per  unit, beginning of period
    
    
    1,741.05
    
    
    
    1,409.43Net asset value per  unit, end of period ***
    
    $
    1,803.10
    
    
    $
    1,328.02
 
 *
    
    Includes brokerage fees.**
    
    Excludes brokerage fees.  Three Months EndedMarch 31,2011
    
    
    2010Ratios to Average Net Assets:***Net investment income (loss) before incentive fees****
    
    
    (8.4
    )%
    
    
    (8.4
    )%Operating expenses
    
    
    8.5
    %
    
    
    8.4
    %Incentive fees
    
    
    
    %*****
    
    
    
    %Total expenses
    
    
    8.5
    %
    
    
    8.4
    %Total return:Total return before incentive fees
    
    
    3.6
    %
    
    
    (5.8
    )%Incentive fees
    
    
    
    %*****
    
    
    
    %Total return after incentive fees
    
    
    3.6
    %
    
    
    (5.8
    )%
  ***
    
    Annualized (other than incentive fees).****
    
    Interest income less total expenses (exclusive of incentive fees).*****
    
    Due to rounding.   8




---



##### 



Westport
JWH Futures Fund L.P.
    Notes to Financial Statements
March 31, 2011
    (Unaudited)
 3.
    Trading
    Activities:             AssetsFutures Contracts
    

March
31, 2011Currencies
    
    $
    69,150Energy
    
    
    59,210Grains
    
    
    26,162Indices
    
    
    22,488Interest Rates Non-U.S.
    
    
    7,579Livestock
    
    
    28,480Metals
    
    
    9,650Softs
    
    
    182,712Total unrealized appreciation on open futures
contracts
    
    $
    405,431
 LiabilitiesFutures ContractsCurrencies
    
    $
    (35,788
    )Grains
    
    
    (6,200
    )Indices
    
    
    (28,832
    )Interest Rates U.S.
    
    
    (10,525
    )Interest Rates Non-U.S.
    
    
    (603
    )Softs
    
    
    (1,970
    )Total unrealized depreciation on open futures
contracts
    
    $
    (83,918
    )Net unrealized appreciation on open futures
contracts
    
    $
    321,513
    *
 AssetsForward ContractsMetals
    
    $
    13,431Total unrealized appreciation on open forward
contracts
    
    $
    13,431LiabilitiesForward ContractsMetals
    
    $
    (26,437
    )Total unrealized depreciation on open forward
contracts

    
    $
    (26,437
    )Net
unrealized depreciation on open forward
contracts
    
    $
    (13,006
    )**
 
 *
    
    This amount is in Net unrealized appreciation on open
futures contracts on the Statements of Financial Condition.**
    
    This amount is in Net unrealized depreciation on open forward contracts on the Statements of Financial Condition. 9




---



##### 



Westport
JWH Futures Fund L.P.
    Notes to Financial Statements
    March 31, 2011
    (Unaudited)
 December 31, 2010AssetsFutures ContractsCurrencies

$
122,819Energy


24,947Grains


142,491Indices


14,510Interest Rates
    Non-U.S.


989Livestock


11,920Metals


56,575Softs


50,963Total unrealized appreciation on open futures contracts

$
425,214LiabilitiesFutures ContractsCurrencies

$
(14,975
)Energy


(12,500
)Indices


(15,702
)Interest Rates U.S.


(4,644
)Interest Rates
    Non-U.S.


(32,068
)Softs


(15,620
)Total unrealized depreciation on open futures contracts

$
(95,509
)Net unrealized appreciation on open futures contracts

$
329,705
*  
 *This amount is in Net unrealized appreciation on open
    futures contracts on the Statements of Financial Condition.  December 31, 2010AssetsForward ContractsMetals

$
99,712Total unrealized appreciation on open forward contracts


99,712Net unrealized appreciation on open forward contracts

$
99,712
**  
 **This amount is in Net unrealized appreciation on open
    forward contracts on the Statements of Financial Condition.     Three month endedMarch 31,Sector
    
    2011
    
    2010Currencies
    
    $
    (225,127
    )
    
    $
    (84,352
    )Energy
    
    
    158,772
    
    
    
    110,323Grains
    
    
    37,191
    
    
    
    (59,100
    )Indices
    
    
    (132,736
    )
    
    
    (47,578
    )Interest Rates U.S.
    
    
    (55,537
    )
    
    
    (69,896
    )Interest Rates Non-U.S.
    
    
    21,746
    
    
    
    78,319Livestock
    
    
    24,250
    
    
    
    27,060Metals
    
    
    3,665
    
    
    
    (68,869
    )Softs
    
    
    376,164
    
    
    
    (104,529
    )Total
    
    $
    208,388
    ***
    
    $
    (218,622
    )***
 
 ***
    
    This amount is in Total trading results on the
Statements of Income and Expenses and Changes in Partners
Capital. 10




---



##### 



Westport
JWH Futures Fund L.P.
    Notes to Financial Statements
    March 31, 2011
    (Unaudited)
  4.
    Fair
    Value Measurements:  Partnerships and JWH Masters Investments.
  Partnerships and JWH Masters Fair Value
Measurements.
   11




---



##### 



Westport JWH Futures Fund L.P.
    Notes to Financial Statements
March 31, 2011
    (Unaudited)
    Quoted Prices inActive Markets for


Significant Other


SignificantIdentical Assets


Observable Inputs


Unobservable InputsMarch 31, 2011


(Level 1)


(Level 2)


(Level 3)AssetsFutures

$
405,431


$
405,431


$



$
Forwards


13,431



13,431







Investment in JWH Master


59,853,797







59,853,797



Total assets


60,272,659



418,862



59,853,797



LiabilitiesFutures


83,918



83,918







Forwards


26,437



26,437







Total Liabilities


110,355



110,355







Net fair value

$
60,162,304


$
308,507


$
59,853,797


$
Quoted Prices inActive Markets for


Significant Other


SignificantIdentical Assets


Observable Inputs


Unobservable InputsDecember 31, 2010*


(Level 1)


(Level 2)


(Level 3)AssetsForwards
    
    $
    99,712
    
    
    $
    99,712
    
    
    $
    
    
    
    $
    Futures
    
    
    425,214
    
    
    
    425,214
    
    
    
    
    
    
    
    Investment in JWH Master
    
    
    56,636,675
    
    
    
    
    
    
    
    56,636,675
    
    
    
    Total assets
    
    $
    57,161,601
    
    
    $
    524,926
    
    
    $
    56,636,675
    
    
    
    LiabilitiesFutures


95,509



95,509







Total Liabilities


95,509



95,509







Net fair value
    
    $
    57,066,092
    
    
    $
    429,417
    
    
    $
    56,636,675
    
    
    $
     
 *
    
    The amounts have been reclassified from the December 31, 2010 prior year financial
statements to conform to current year presentation based on new fair value guidance. 5.   Investment in JWH Master:
     12




---



##### 



Westport JWH Futures Fund L.P.
    Notes to Financial Statements
March 31, 2011
    (Unaudited)
      give-up,
    JWH Master Fund LLC
Statements of Financial Condition
 (Unaudited)March 31,
    
    
    December 31,2011
    
    
    2010Assets:Equity in trading account:Cash
    
    $
    63,963,204
    
    
    $
    58,147,328Cash margin
    
    
    7,850,842
    
    
    
    9,601,427Net unrealized appreciation on open futures contracts
    
    
    4,266,450
    
    
    
    4,314,312Total assets
    
    $
    76,080,496
    
    
    $
    72,063,067Liabilities and Members Capital:Liabilities:Accrued expenses:Professional fees
    
    $
    103,651
    
    
    $
    71,427Total liabilities
    
    
    103,651
    
    
    
    71,427Members Capital:Members Capital, 21,130.9323 and 21,244.0589 units
outstanding at March 31, 2011 and December 31, 2010, respectively
    
    
    75,976,845
    
    
    
    71,991,640Total liabilities and members capital
    
    $
    76,080,496
    
    
    $
    72,063,067Net asset value per unit
    
    $
    3,595.53
    
    
    $
    3,388.79
  13




---



##### 



Westport
JWH Futures Fund L.P.Notes to Financial
StatementsMarch 31, 2011(Unaudited)
  JWH
 Master Fund LLCCondensed Schedule of Investments
March 31, 2011(Unaudited)
  Number of
    
    
    
    
    
    
    % of MembersContracts
    
    
    Fair Value
    
    
    CapitalFutures
Contracts PurchasedCurrencies
    
    
    219
    
    
    $
    576,281
    
    
    
    0.76
    %Energy
    
    
    266
    
    
    
    626,242
    
    
    
    0.82Grains
    
    
    40
    
    
    
    (41,312
    )
    
    
    (0.05
    )Interest Rates U.S.
    
    
    208
    
    
    
    (137,569
    )
    
    
    (0.18
    )Interest Rates Non-U.S.
    
    
    17
    
    
    
    (106,631
    )
    
    
    (0.14
    )Metals
    
    
    240
    
    
    
    2,212,500
    
    
    
    2.91Softs
    
    
    384
    
    
    
    2,305,805
    
    
    
    3.03Total futures contracts purchased
    
    
    
    
    
    
    5,435,316
    
    
    
    7.15Futures
Contracts SoldCurrencies
    
    
    50
    
    
    
    (8,000
    )
    
    
    (0.01
    )Grains
    
    
    160
    
    
    
    (504,113
    )
    
    
    (0.66
    )Indices
    
    
    47
    
    
    
    (656,712
    )
    
    
    (0.86
    )Interest Rates Non-U.S.
    
    
    246
    
    
    
    61,951
    
    
    
    0.08Softs
    
    
    54
    
    
    
    (61,992
    )
    
    
    (0.08
    )Total futures contracts sold
    
    
    
    
    
    
    (1,168,866
    )
    
    
    (1.53
    )Net fair value
    
    
    
    
    
    $
    4,266,450
    
    
    
    5.62
    %
 14




---



##### 



Westport
JWH Futures Fund L.P.
    Notes to Financial Statements
    March  31, 2011
    (Unaudited)
  JWH
Master Fund LLC
Condensed  Schedule of Investments
    December 31, 2010
  Number of





% of MembersContracts


Fair Value


CapitalFutures Contracts PurchasedCurrencies


328


$
608,700



0.85
%Energy


212



361,671



0.50Grains


390



530,375



0.74Indices


68



57,461



0.08Interest Rates
    Non-U.S.


37



4,326



0.01Metals


236



2,104,700



2.92Softs


592



563,962



0.78Total futures contracts purchased






4,231,195



5.88Futures Contracts SoldCurrencies


46



(41,600
)


(0.06
)Energy


3



(3,750
)


(0.01
)Interest Rates U.S.


318



321,553



0.45Interest Rates
    Non-U.S.


228



(193,086
)


(0.27
)Total futures contracts sold






83,117



0.11Net fair value





$
4,314,312



5.99
% 15




---



##### 



Westport
JWH Futures Fund L.P.
    Notes to Financial Statements
March 31, 2011
    (Unaudited)
 JWH Master Fund LLC
Statements of Income and Expenses and Changes in Members Capital
(Unaudited)
 Three Months EndedMarch 31,2011
    
    
    2010Investment Income:Interest income
    
    $
    15,166
    
    
    $
    6,686Total
investment income
    
    
    15,166
    
    
    
    6,686Expenses:Clearing fees
    
    
    23,123
    
    
    
    16,408Professional fees
    
    
    42,224
    
    
    
    19,191Total expenses
    
    
    65,347
    
    
    
    35,599Net investment income (loss)
    
    
    (50,181
    )
    
    
    (28,913
    )Trading Results:Net gains (losses) on trading of commodity
interests:Net realized gains (losses) on closed positions
    
    
    4,502,223
    
    
    
    (4,234,841
    )Change in net unrealized gains (losses) on open
positions
    
    
    (47,862
    )
    
    
    1,936,754Total
trading results
    
    
    4,454,361
    
    
    
    (2,298,087
    )Net income (loss)
    
    
    4,404,180
    
    
    
    (2,327,000
    )Subscriptions
    
    
    1,765,498
    
    
    
    348,000Redemptions
    
    
    (2,169,307
    )
    
    
    (1,967,579
    )Distribution of interest income to feeder funds
    
    
    (15,166
    )
    
    
    (6,686
    )Net increase (decrease) in Members Capital
    
    
    3,985,205
    
    
    
    (3,953,265
    )Members capital, beginning of period
    
    
    71,991,640
    
    
    
    56,933,016Members capital, end of period
    
    $
    75,976,845
    
    
    $
    52,979,751Net asset value per unit
(21,130.9323 and 22,480.6170 units outstanding
in March 31, 2011 and 2010, respectively)
    
    $
    3,595.53
    
    
    $
    2,356.69Net income
(loss) per unit*
    
    $
    207.46
    
    
    $
    (100.91
    )Weighted average units outstanding
    
    
    21,396.2349
    
    
    
    23,032.0959
 *
    
    Based on change in net asset value per unit.  16




---



##### 



Westport JWH Futures Fund L.P.
    Notes to Financial Statements
 March 31, 2011
    (Unaudited)
    Quoted Prices inActive Markets


Significant Other


Significantfor Identical


Observable Inputs


UnobservableMarch 31, 2011


Assets (Level 1)


(Level 2)


Inputs (Level 3)AssetsFutures

$
5,817,500


$
5,817,500


$



$
Total assets


5,817,500



5,817,500







LiabilitiesFutures


1,551,050



1,551,050







Total Liabilites


1,551,050



1,551,050







Net fair value

$
4,266,450


$
4,266,450


$



$
Quoted Prices inActive Markets
    
    
    Significant Other
    
    
    Significantfor Identical
    
    
    Observable Inputs
    
    
    UnobservableDecember
31, 2010*
    
    
    Assets (Level 1)
    
    
    (Level 2)
    
    

Inputs (Level 3)AssetsFutures
    
    $
    5,068,371
    
    
    $
    5,068,371
    
    
    $
    
    
    
    $
    Total assets
    
    
    5,068,371
    
    
    
    5,068,371
    
    
    
    
    
    
    
    LiabilitiesFutures


754,059



754,059







Total Liabilites


754,059



754,059







Net fair value
    
    $
    4,314,312
    
    
    $
    4,314,312
    
    
    $
    
    
    
    $
     
 *
    
    The amounts have been reclassified from the December 31, 2010 prior year financial
statements to conform to current year presentation based on new fair value guidance. 17




---



##### 



Westport
JWH Futures Fund L.P.
    Notes to Financial Statements
March 31, 2011
    (Unaudited)
   Three Months EndedMarch 31,2011
    
    
    2010Net realized and unrealized gains (losses)*
    
    $
    208.73
    
    
    $
    (100.36
    )Interest income
    
    
    0.72
    
    
    
    0.30Expenses**
    
    
    (1.99
    )
    
    
    (0.85
    )Increase (decrease) for the period
    
    
    207.46
    
    
    
    (100.91
    )Distributions of interest income to feeder funds
    
    
    (0.72
    )
    
    
    (0.30
    )Net asset
value per unit,  beginning of period
    
    
    3,388.79
    
    
    
    2,457.90Net asset
value per unit,  end of period
    
    $
    3,595.53
    
    
    $
    2,356.69
 *
    
    Includes clearing fees.**
    
    Excludes clearing fees. Three Months EndedMarch 31,2011
    
    
    2010Ratios to
average net assets:***Net investment income (loss)****
    
    
    (0.3
    )%
    
    
    (0.2
    )%Operating
expenses
    
    
    0.4
    %
    
    
    0.3
    %Total return
    
    
    6.1
    %
    
    
    (4.1
    )%
 
 ***
    
    Annualized (other than incentive fees).****
    
    Interest income less total expenses (exclusive of incentive fees).   18




---



##### 



Westport
JWH Futures Fund L.P.
    Notes to Financial Statements
    March 31, 2011
    (Unaudited)
    March 31, 2011AssetsFutures ContractsCurrencies
    
    $
    591,300Energy
    
    
    643,922Interest Rates Non-U.S.
    
    
    63,973Metals
    
    
    2,212,500Softs
    
    
    2,305,805Total unrealized appreciation on
open futures contracts
    
    $
    5,817,500LiabilitiesFutures ContractsCurrencies
    
    $
    (23,019
    )Energy
    
    
    (17,680
    )Grains
    
    
    (545,425
    )Indices
    
    
    (656,712
    )Interest Rates U.S.
    
    
    (137,569
    )Interest Rates Non-U.S.
    
    
    (108,653
    )Softs
    
    
    (61,992
    )Total unrealized depreciation on
open futures contracts
    
    $
    (1,551,050
    )Net unrealized appreciation on
open futures contracts
    
    $
    4,266,450
    *
 December 31, 2010AssetsFutures ContractsCurrencies

$
608,700Energy


362,521Grains


530,375Indices


57,461Interest Rates U.S.


342,828Interest Rates
    Non-U.S.


149,777Metals


2,104,700Softs


912,009Total unrealized appreciation on open futures contracts

$
5,068,371LiabilitiesFutures ContractsCurrencies

$
(41,600
)Energy


(4,600
)Interest Rates U.S.


(21,275
)Interest Rates
    Non-U.S.


(338,537
)Softs


(348,047
)Total unrealized depreciation on open futures contracts

$
(754,059
)Net unrealized appreciation on open futures contracts

$
4,314,312
*
  
 *
    
    This amount is in Net unrealized appreciation on open
    futures contracts on the Statements of Financial Condition. 19




---



##### 



Westport
JWH Futures Fund L.P.
    Notes to Financial Statements
March 31, 2011
    (Unaudited)
 
 Three
Months Ended March 31,Sector
    
    2011
    
    
    2010Currencies
    
    $
    (1,192,848
    )
    
    $
    684,042Energy
    
    
    4,315,497
    
    
    
    (871,356
    )Grains
    
    
    (1,486,900
    )
    
    
    15,639Indices
    
    
    (970,965
    )
    
    
    (126,600
    )Interest Rates U.S.
    
    
    (202,807
    )
    
    
    (282,912
    )Interest Rates Non-U.S.
    
    
    (206,321
    )
    
    
    43,944Metals
    
    
    1,218,895
    
    
    
    (2,597,160
    )Softs
    
    
    2,979,810
    
    
    
    836,316Total
    
    $
    4,454,361
    *
    
    $
    (2,298,087
    )*
 
 *
    
    This amount is in Total trading results on the
Statements of Income and Expenses and Changes in Members
Capital. 6.
    Financial
Instrument Risks:             20




---



##### 



Westport
JWH Futures Fund L.P.
    Notes to Financial Statements
March 31, 2011
    (Unaudited)
  7. Critical
    Accounting Policies:
  Use of Estimates.
  Partnerships and JWH Masters Investments.
  Partnerships and JWH Masters Fair Value Measurements.
       21




---



##### 



Westport
JWH Futures Fund L.P.
    Notes to Financial Statements
   March 31, 2011
    (Unaudited)
  Futures Contracts.
  London Metals Exchange Forward
    Contracts.
   Income Taxes.
     Subsequent
Events
 Net
Income (Loss) per  Unit
 22




---



##### 



Item 2.
    Managements
    Discussion and Analysis of Financial Condition and Results of
    Operations.  Liquidity
    and Capital Resources
            Critical
Accounting Policies
   23




---



##### 



Results of Operations
      24




---



##### 



30-day
         25




---



##### 



Item 3.
    Quantitative
    and Qualitative Disclosures about Market Risk            one-day
    March
31, 2011
 Market Sector
    
    Value at Risk
    
    
    % of Total CapitalizationCurrencies
    
    $
    681,114
    
    
    
    1.01
    %Energy
    
    
    1,025,365
    
    
    
    1.52
    %Grains
    
    
    439,600
    
    
    
    0.65
    %Indices
    
    
    518,207
    
    
    
    0.77
    %Interest Rates U.S.
    
    
    270,340
    
    
    
    0.40
    %Interest Rates Non-U.S.
    
    
    474,095
    
    
    
    0.71
    %Livestock
    
    
    101,251
    
    
    
    0.15
    %Metals
    
    
    1,188,574
    
    
    
    1.77
    %Softs
    
    
    1,234,438
    
    
    
    1.84
    %Total
    
    $
    5,932,984
    
    
    
    8.82
    %
 26




---



##### 



% of TotalMarket Sector
    
    Value at Risk
    
    
    CapitalizationCurrencies
    
    $
    963,589
    
    
    
    1.49
    %Energy
    
    
    689,135
    
    
    
    1.07
    %Grains
    
    
    818,882
    
    
    
    1.27
    %Interest Rates U.S.
    
    
    479,109
    
    
    
    0.74
    %Interest Rates Non-U.S.
    
    
    775,022
    
    
    
    1.20
    %Livestock
    
    
    8,000
    
    
    
    0.01
    %Metals
    
    
    1,135,249
    
    
    
    1.75
    %Softs
    
    
    1,513,386
    
    
    
    2.34
    %Indices
    
    
    321,889
    
    
    
    0.50
    %Total
    
    $
    6,704,261
    
    
    
    10.37
    %
      March 31, 2011
 Three months ended March 31, 2011% of Total
    
    
    High
    
    
    Low
    
    
    AverageMarket Sector
    
    Value at Risk
    
    
    Capitalization
    
    
    Value at Risk
    
    
    Value at Risk
    
    
    Value at Risk*Currencies
    
    $
    235,500
    
    
    
    0.35
    %
    
    $
    247,704
    
    
    $
    102,570
    
    
    $
    216,167Energy
    
    
    93,640
    
    
    
    0.14
    %
    
    
    97,290
    
    
    
    63,360
    
    
    
    81,273Grains
    
    
    85,000
    
    
    
    0.13
    %
    
    
    85,000
    
    
    
    82,250
    
    
    
    84,333Interest Rates U.S.
    
    
    13,862
    
    
    
    0.02
    %
    
    
    19,815
    
    
    
    7,749
    
    
    
    13,809Interest Rates Non -U.S.
    
    
    101,251
    
    
    
    0.15
    %
    
    
    103,716
    
    
    
    81,963
    
    
    
    102,285Livestock
    
    
    9,600
    
    
    
    0.01
    %
    
    
    9,600
    
    
    
    8,000
    
    
    
    8,533Metals
    
    
    88,844
    
    
    
    0.13
    %
    
    
    100,822
    
    
    
    88,832
    
    
    
    95,838Softs
    
    
    124,070
    
    
    
    0.19
    %
    
    
    135,575
    
    
    
    105,600
    
    
    
    117,253Indices
    
    
    86,933
    
    
    
    0.13
    %
    
    
    152,445
    
    
    
    35,559
    
    
    
    126,282Totals
    
    $
    838,700
    
    
    
    1.25
    %
 *
    
    Average of month-end Values at Risk.   Twelve
months ended  December 31, 2010% of Total
    
    
    High
    
    
    Low
    
    
    AverageMarket Sector
    
    Value at Risk
    
    
    Capitalization
    
    
    Value at Risk
    
    
    Value at Risk
    
    
    Value at Risk*Currencies
    
    $
    94,820
    
    
    
    0.15
    %
    
    $
    167,600
    
    
    $
    58,028
    
    
    $
    107,473Energy
    
    
    63,360
    
    
    
    0.10
    %
    
    
    112,000
    
    
    
    32,400
    
    
    
    74,898Grains
    
    
    82,250
    
    
    
    0.13
    %
    
    
    82,250
    
    
    
    5,500
    
    
    
    47,330Interest Rates U.S.
    
    
    18,950
    
    
    
    0.03
    %
    
    
    60,950
    
    
    
    12,896
    
    
    
    42,183Interest Rates Non -U.S.
    
    
    52,442
    
    
    
    0.08
    %
    
    
    103,150
    
    
    
    19,462
    
    
    
    77,242Livestock
    
    
    8,000
    
    
    
    0.01
    %
    
    
    13,600
    
    
    
    4,900
    
    
    
    8,917Metals
    
    
    94,835
    
    
    
    0.15
    %
    
    
    102,231
    
    
    
    20,007
    
    
    
    84,204Softs
    
    
    105,600
    
    
    
    0.16
    %
    
    
    105,600
    
    
    
    22,800
    
    
    
    72,203Indices
    
    
    144,026
    
    
    
    0.22
    %
    
    
    146,234
    
    
    
    21,287
    
    
    
    94,506Totals
    
    $
    664,283
    
    
    
    1.03
    %
 *
    
    Annual average of month-end Value at Risk. 27




---



##### 



March 31, 2011
  Three Months Ended March 31, 2011% of Total
    
    
    High
    
    
    Low
    
    
    AverageMarket Sector
    
    Value at Risk
    
    
    Capitalization
    
    
    Value at Risk
    
    
    Value at Risk
    
    
    Value at Risk*Currencies
    
    $
    565,500
    
    
    
    0.74
    %
    
    $
    1,616,400
    
    
    $
    332,400
    
    
    $
    876,900Energy
    
    
    1,182,392
    
    
    
    1.56
    %
    
    
    1,182,392
    
    
    
    795,140
    
    
    
    1,057,472Grains
    
    
    450,000
    
    
    
    0.59
    %
    
    
    1,186,000
    
    
    
    210,000
    
    
    
    620,000Indices
    
    
    500,174
    
    
    
    0.66
    %
    
    
    526,367
    
    
    
    61,094
    
    
    
    352,244Interest Rates U.S.
    
    
    232,750
    
    
    
    0.31
    %
    
    
    447,729
    
    
    
    143,050
    
    
    
    368,821Interest Rates Non -U.S.
    
    
    584,052
    
    
    
    0.77
    %
    
    
    1,291,947
    
    
    
    278,909
    
    
    
    964,009Metals
    
    
    1,496,160
    
    
    
    1.97
    %
    
    
    1,496,160
    
    
    
    195,039
    
    
    
    985,440Softs
    
    
    1,453,800
    
    
    
    1.91
    %
    
    
    1,971,480
    
    
    
    1,065,600
    
    
    
    1,425,187Total
    
    $
    6,464,828
    
    
    
    8.51
    %
 *
    
    Average of month-end Values at Risk.  December 31, 2010
 Twelve
months ended  December 31, 2010% of Total
    
    
    High
    
    
    Low
    
    
    AverageMarket Sector
    
    Value at Risk
    
    
    Capitalization
    
    
    Value at Risk
    
    
    Value at Risk
    
    
    Value at Risk*Currencies
    
    $
    1,103,900
    
    
    
    1.54
    %
    
    $
    1,502,400
    
    
    $
    46,800
    
    
    $
    911,350Energy
    
    
    795,140
    
    
    
    1.10
    %
    
    
    941,200
    
    
    
    58,100
    
    
    
    672,278Grains
    
    
    936,000
    
    
    
    1.30
    %
    
    
    1,042,000
    
    
    
    21,645
    
    
    
    530,709Interest Rates U.S.
    
    
    584,700
    
    
    
    0.81
    %
    
    
    624,600
    
    
    
    60,068
    
    
    
    425,373Interest Rates Non -U.S.
    
    
    918,145
    
    
    
    1.28
    %
    
    
    982,359
    
    
    
    163,217
    
    
    
    672,177Metals
    
    
    1,322,000
    
    
    
    1.84
    %
    
    
    1,322,000
    
    
    
    39,984
    
    
    
    736,005Softs
    
    
    1,788,800
    
    
    
    2.48
    %
    
    
    1,788,800
    
    
    
    268,000
    
    
    
    791,066Indices
    
    
    226,001
    
    
    
    0.31
    %
    
    
    350,360
    
    
    
    83,364
    
    
    
    203,797Total
    
    $
    7,674,686
    
    
    
    10.66
    %
 *
    
    Annual average of month-end Value at Risk. 28




---



##### 



Item 4.
    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.   29




---



##### 



PART II.
    OTHER INFORMATION  Item 1.
    Legal
    Proceedings    Mutual Funds
    FINRA Settlement
  Auction Rate Securities
   30




---



##### 



Subprime Mortgage-Related Actions
    Credit Crisis Related Matters
    31




---



##### 



Item 1A.
    Risk
    Factors   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 ProgramsJanuary 1, 2011 - January 31, 2011



312.1904



$
1,774.41




N/A




N/AFebruary
1, 2011 -February 28, 2011



121.3119



$
1,833.49




N/A




N/AMarch
1, 2011 - March 31, 2011



614.2787



$
1,803.10




N/A




N/ATotal



1,047.7810



$
1,798.07   *
    
    Generally, Limited Partners are permitted to redeem their
    Redeemable Units as of the last day of each month on
    three business  days notice to the General Partner. Under certain
    circumstances, the General Partner can compel redemption, although 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.
    [Removed and Reserved]  Item 5.
    Other
    Information  None 32




---



##### 



3.1
    
    Limited Partnership Agreement, dated March 21, 1997 (filed as Exhibit A
to the Registration Statement on Form S-1 filed on April 10, 1997 and incorporated
herein by reference).
 3.2
    
    Certificate of Limited Partnership of the Partnership as filed in the
office of the Secretary of State of the State of New York, dated March 21, 1997
(filed as Exhibit 3.2 to the Registration Statement on Form S-1 filed on April 10,
1997 and incorporated herein by reference).
 (a)
    
    Certificate of Amendment of the Certificate of Limited Partnership as
filed in the office of the Secretary of State of New York, dated October 1, 1999
(filed as Exhibit 3.2(a) to the Form 10-Q filed on November 16, 2009 and
incorporated herein by reference).
 (b)
    
    Certificate of Change of the Certificate of Limited Partnership as filed
in the office of the Secretary of State of New York, effective January 31, 2000
(filed as Exhibit 3.2(b) to the Form 10-Q filed on November 16, 2009 and
incorporated herein by reference).
 (c)
    
    Certificate of Amendment of the Certificate of Limited Partnership as
filed in the office of the Secretary of State of New York, dated May 21, 2003 (filed
as Exhibit 3.2(c) to the Form 10-Q filed on November 16, 2009 and incorporated
herein by reference).
 (d)
    
    Certificate of Amendment of the Certificate of Limited Partnership as
filed in the office of the Secretary of State of New York, dated September 21, 2005
(filed as Exhibit 3.2(d) to the Form 10-Q filed on November 16, 2009 and
incorporated herein by reference).
 (e)
    
    Certificate of Amendment of the Certificate of Limited Partnership as
filed in the office of the Secretary of State of New York, dated September 19, 2008
(filed as Exhibit 3.2(e) to the Form 10-Q filed on November 16, 2009 and
incorporated herein by reference).
 (f)
    
    Certificate of Amendment of the Certificate of Limited Partnership as
filed in the office of the Secretary of State of New York, dated September 28, 2009
(filed as Exhibit 99.1 to the Form 8-K filed on September 29, 2009 and incorporated
herein by reference).
 (g)
    
    Certificate of Amendment of the Certificate of Limited
Partnership as filed in the office of the Secretary of
State of New York, dated
June 29, 2010 (filed as Exhibit 3.2(g)  to the Form 8-K filed on July 2, 2010 and incorporated herein by reference).
 10.1
    
    Form of Customer Agreement between the Partnership and Smith Barney Inc.
(filed as Exhibit 10.1 to the Registration Statement on Form S-1 filed on April 10,
1997 and incorporated herein by reference).
 (a)
    
    Amendment No. 1 to the Customer Agreement, dated March 1, 2000 (filed as
Exhibit 10.1(a) to the Form 10-Q filed on November 16, 2009 and incorporated herein
by reference).
 10.2
    
    Form of Escrow Agreement and Instructions relating to escrow of
subscription funds (filed as Exhibit 10.3 to the Registration Statement on Form S-1
filed on April 10, 1997 and incorporated herein by reference).
 (a)
    
    Amendment to the Escrow Agreement and Instructions relating to escrow of
subscription funds, dated April 8, 1997 (filed as Exhibit 10.2(a) to the Form 10-Q
filed on November 16, 2009 and incorporated herein by reference).
 10.3
    
    Amended and Restated Management Agreement among the Partnership, the
General Partner and John W. Henry & Company Inc., dated March 1, 2000 (filed as
Exhibit 10.3 to the Form 10-Q filed on November 16, 2009 and incorporated herein by
reference).
 (a)
    
    Amendment No. 1 to the Amended and Restated Management Agreement, dated
September 10, 2000 (filed as Exhibit 10.3(a) to the Form 10-Q filed on November 16,
2009 and incorporated herein by reference).
 (b)
    
    Letter extending the Amended and Restated Management Agreement among the
Partnership, the General Partner and John W. Henry & Company,
Inc. for 2010, dated
June 1, 2010 (filed as Exhibit 10.3 to the Form 10-K filed
on March 31, 2011 and
incorporated herein by reference).
 10.4
    
    Form of Subscription Agreement (filed as Exhibit 10.4 to the Form 10-Q
filed on November 16, 2009 and incorporated herein by reference).
 10.5
    
    Agency Agreement among the Partnership, the General Partner, Morgan
Stanley Smith Barney LLC and Citigroup Global Markets Inc., dated November 11, 2009
(filed as Exhibit 10.5 to the Form 10-Q filed on November 16, 2009 and incorporated
herein by reference).
 10.6
    
    Joinder Agreement among the General Partner, Citigroup Global Markets
Inc., and Morgan Stanley Smith Barney LLC dated as of June 1, 2009 (filed as Exhibit
10 to the Form 10-Q filed on August 14, 2009 and incorporated herein by reference).
  31.1
    
     Rule 13a-14(a)/15d-14(a) Certification (Certification of President and
Director)
 31.2
    
     Rule 13a-14(a)/15d-14(a) Certification (Certification of Chief Financial
Officer and Director)
 32.1
    
     Section 1350 Certification (Certification of President and Director)
 32.2
    
     Section 1350 Certification (Certification of Chief Financial Officer  and Director)
 33




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##### 



SIGNATURES
    WESTPORT JWH FUTURES FUND L.P.
  By:
    Ceres Managed Futures LLC    By:
    /s/ Walter Davis     Date: May 16, 2011  By:
    /s/  Jennifer
    Magro   
  Date: May 16, 2011 34