<Page>
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-Q

(Mark One)

/X/ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
    ACT OF 1934

For the quarterly period ended June 29, 2001

                                       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: 0-25789

                         WORLD MONITOR TRUST--SERIES C
--------------------------------------------------------------------------------
             (Exact name of Registrant as specified in its charter)

Delaware                                        13-3985042
-------------------------------------------------------------------------------
(State or other jurisdiction of        (I.R.S. Employer Identification No.)
incorporation or organization)

One New York Plaza, 13th Floor, New York, New York           10292
-------------------------------------------------------------------------------
(Address of principal executive offices)                   (Zip Code)

Registrant's telephone number, including area code (212) 778-7866

                                      N/A
--------------------------------------------------------------------------------
Former name, former address and former fiscal year, if changed since last report

   Indicate by check CK whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
Registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes _CK_  No __

<Page>
                         PART I. FINANCIAL INFORMATION
                          ITEM I. FINANCIAL STATEMENTS
                         WORLD MONITOR TRUST--SERIES C
                          (a Delaware Business Trust)
                       STATEMENTS OF FINANCIAL CONDITION
                                  (Unaudited)
<Table>
<Caption>
                                                                         June 29,      December 31,
                                                                           2001            2000
<S>                                                                     <C>            <C>
---------------------------------------------------------------------------------------------------
ASSETS
Cash                                                                    $7,278,023      $8,485,803
Net unrealized gain on open futures contracts                              347,163       1,364,440
Accrued interest receivable                                                  1,021              --
                                                                        ----------     ------------
Total assets                                                            $7,626,207      $9,850,243
                                                                        ----------     ------------
                                                                        ----------     ------------
LIABILITIES AND TRUST CAPITAL
Liabilities
Redemptions payable                                                     $  146,188      $   19,399
Commissions payable                                                         51,664          70,591
Management fees payable                                                     14,699          24,235
                                                                        ----------     ------------
Total liabilities                                                          212,551         114,225
                                                                        ----------     ------------
Commitments

Trust capital
Limited interests (85,150.097 and 103,274.013 interests outstanding)     7,337,994       9,633,406
General interests (878 and 1,100 interests outstanding)                     75,662         102,612
                                                                        ----------     ------------
Total trust capital                                                      7,413,656       9,736,018
                                                                        ----------     ------------
Total liabilities and trust capital                                     $7,626,207      $9,850,243
                                                                        ----------     ------------
                                                                        ----------     ------------

Net asset value per limited and general interests ('Interests')         $    86.18      $    93.28
                                                                        ----------     ------------
                                                                        ----------     ------------
---------------------------------------------------------------------------------------------------
</TABLE>
      The accompanying notes are an integral part of these statements.

                                       2

<Page>
                         WORLD MONITOR TRUST--SERIES C
                          (a Delaware Business Trust)
                            STATEMENTS OF OPERATIONS
                                  (Unaudited)
<Table>
<Caption>
                                                  For the          For the          For the          For the
                                                period from      period from      period from      period from
                                                 January 1,       January 1,       March 31,         April 1,
                                                  2001 to          2000 to          2001 to          2000 to
                                               June 29, 2001    June 30, 2000    June 29, 2001    June 30, 2000
<S>                                            <C>              <C>              <C>              <C>
----------------------------------------------------------------------------------------------------------------
REVENUES
Net realized gain (loss) on commodity
  transactions                                  $    553,888     $ (4,240,851)     $  318,971      $   (771,191)
Change in net unrealized gain/loss on open
  commodity positions                             (1,017,277)        (961,722)       (960,334)         (590,529)
Interest income                                      213,656          437,079          88,947           206,452
                                               --------------   --------------   --------------   --------------
                                                    (249,733)      (4,765,494)       (552,416)       (1,155,268)
                                               --------------   --------------   --------------   --------------
EXPENSES
Commissions                                          332,857          497,555         157,064           190,590
Management fees                                       86,123          128,198          40,625            49,098
                                               --------------   --------------   --------------   --------------
                                                     418,980          625,753         197,689           239,688
                                               --------------   --------------   --------------   --------------
Net loss                                        $   (668,713)    $ (5,391,247)     $ (750,105)     $ (1,394,956)
                                               --------------   --------------   --------------   --------------
                                               --------------   --------------   --------------   --------------
ALLOCATION OF NET LOSS
Limited interests                               $   (661,227)    $ (5,318,862)     $ (742,098)     $ (1,375,452)
                                               --------------   --------------   --------------   --------------
                                               --------------   --------------   --------------   --------------
General interests                               $     (7,486)    $    (72,385)     $   (8,007)     $    (19,504)
                                               --------------   --------------   --------------   --------------
                                               --------------   --------------   --------------   --------------
NET LOSS PER WEIGHTED AVERAGE LIMITED AND
  GENERAL INTEREST
Net loss per weighted average limited and
  general interest                              $      (6.90)    $     (29.48)     $    (8.18)     $      (7.90)
                                               --------------   --------------   --------------   --------------
                                               --------------   --------------   --------------   --------------
Weighted average number of limited and
  general interests outstanding                       96,855          182,892          91,677           176,597
                                               --------------   --------------   --------------   --------------
                                               --------------   --------------   --------------   --------------
----------------------------------------------------------------------------------------------------------------
</TABLE>

                     STATEMENT OF CHANGES IN TRUST CAPITAL
                                  (Unaudited)
<Table>
<Caption>
                                                               LIMITED        GENERAL
                                               INTERESTS      INTERESTS      INTERESTS       TOTAL
<S>                                           <C>             <C>            <C>           <C>
-----------------------------------------------------------------------------------------------------
Trust capital--December 31, 2000              104,374.013     $9,633,406     $102,612      $9,736,018
Contributions                                   1,122.832        102,414           --         102,414
Net loss                                                        (661,227)      (7,486 )      (668,713)
Redemptions                                   (19,468.748)    (1,736,599)     (19,464 )    (1,756,063)
                                              -----------     ----------     ---------     ----------
Trust capital--June 29, 2001                   86,028.097     $7,337,994     $ 75,662      $7,413,656
                                              -----------     ----------     ---------     ----------
                                              -----------     ----------     ---------     ----------
-----------------------------------------------------------------------------------------------------
</TABLE>
         The accompanying notes are an integral part of these statements.

                                       3

<Page>
                         WORLD MONITOR TRUST--SERIES C
                          (a Delaware Business Trust)
                         NOTES TO FINANCIAL STATEMENTS
                                 JUNE 29, 2001
                                  (Unaudited)

A. General

   These financial statements have been prepared without audit. In the opinion
of Prudential Securities Futures Management Inc. (the 'Managing Owner'), the
financial statements contain all adjustments (consisting of only normal
recurring adjustments) necessary to state fairly the financial position of World
Monitor Trust--Series C ('Series C') as of June 29, 2001 and the results of its
operations for the periods from January 1, 2001 to June 29, 2001 ('Year-To-Date
2001'), March 31, 2001 to June 29, 2001 ('Second Quarter 2001'), January 1, 2000
to June 30, 2000 ('Year-To-Date 2000') and April 1, 2000 to June 30, 2000
('Second Quarter 2000'). However, the operating results for these interim
periods may not be indicative of the results expected for a full year.

   Certain information and footnote disclosures normally included in annual
financial statements prepared in accordance with accounting principles generally
accepted in the United States of America have been omitted. It is suggested that
these financial statements be read in conjunction with the financial statements
and notes thereto included in Series C's Annual Report on Form 10-K filed with
the Securities and Exchange Commission for the year ended December 31, 2000.

B. Related Parties

   The Managing Owner of Series C is a wholly-owned subsidiary of Prudential
Securities Incorporated ('PSI'), which, in turn, is a wholly-owned subsidiary of
Prudential Securities Group Inc. The Managing Owner or its affiliates perform
services for Series C, which include but are not limited to: brokerage services;
accounting and financial management; registrar, transfer and assignment
functions; investor communications; printing and other administrative services.
Except for costs related to brokerage services, PSI or its affiliates pay the
costs of these services in addition to the costs of offering Series C's
Interests, as well as its routine operational, administrative, legal and
auditing costs.

   The costs charged to Series C for brokerage services for Year-To-Date 2001,
Year-To-Date 2000, Second Quarter 2001 and Second Quarter 2000 were $332,857,
$497,555, $157,064 and $190,590, respectively.

   All of the proceeds of the offering of Series C are received in the name of
Series C and deposited in trading or cash accounts at PSI, Series C's commodity
broker. Series C's assets are maintained either with PSI or, for margin
purposes, with the various exchanges on which Series C is permitted to trade.
PSI credits Series C monthly with 100% of the interest it earns on the average
net assets in Series C's accounts.

   Series C, acting through its trading advisor, may execute over-the-counter,
spot, forward and/or option foreign exchange transactions with PSI. PSI then
engages in back-to-back trading with an affiliate, Prudential-Bache Global
Markets Inc. ('PBGM'). PBGM attempts to earn a profit on such transactions. PBGM
keeps its prices on foreign currency competitive with other interbank currency
trading desks. All over-the-counter currency transactions are conducted between
PSI and Series C pursuant to a line of credit. PSI may require that collateral
be posted against the marked-to-market positions of Series C.

   As of June 29, 2001, a non-U.S. affiliate of the Managing Owner owns 172.024
limited interests of Series C.

C. Derivative Instruments and Associated Risks

   Series C is exposed to various types of risk associated with the derivative
instruments and related markets in which it invests. These risks include, but
are not limited to, risk of loss from fluctuations in the value of derivative
instruments held (market risk) and the inability of counterparties to perform
under the terms of Series C's investment activities (credit risk).

Market risk

   Trading in futures and forward (including foreign exchange) contracts
involves entering into contractual commitments to purchase or sell a particular
commodity at a specified date and price. The gross or face

                                       4

<Page>
amount of the contracts, which is typically many times that of Series C's net
assets being traded, significantly exceeds Series C's future cash requirements
since Series C intends to close out its open positions prior to settlement. As a
result, Series C is generally subject only to the risk of loss arising from the
change in the value of the contracts. As such, Series C considers the 'fair
value' of its derivative instruments to be the net unrealized gain or loss on
the contracts. The market risk associated with Series C's commitments to
purchase commodities is limited to the gross or face amount of the contracts
held. However, when Series C enters into a contractual commitment to sell
commodities, it must make delivery of the underlying commodity at the contract
price and then repurchase the contract at prevailing market prices. Since the
repurchase price to which a commodity can rise is unlimited, entering into
commitments to sell commodities exposes Series C to unlimited risk.

   Market risk is influenced by a wide variety of factors, including government
programs and policies, political and economic events, the level and volatility
of interest rates, foreign currency exchange rates, the diversification effects
among the derivative instruments Series C holds and the liquidity and inherent
volatility of the markets in which Series C trades.

Credit risk

   When entering into futures or forward contracts, Series C is exposed to
credit risk that the counterparty to the contract will not meet its obligations.
The counterparty for futures contracts traded on United States and most foreign
futures exchanges is the clearinghouse associated with such exchanges. In
general, clearinghouses are backed by their corporate members who are required
to share any financial burden resulting from the non-performance by one of their
members and, as such, should significantly reduce this credit risk. In cases
where the clearinghouse is not backed by the clearing members (i.e., some
foreign exchanges), it is normally backed by a consortium of banks or other
financial institutions. On the other hand, if Series C enters into forward
transactions, the sole counterparty is PSI, Series C's commodity broker. Series
C has entered into a master netting agreement with PSI and, as a result, when
applicable, presents unrealized gains and losses on open forward positions as a
net amount in the statements of financial condition. The amount at risk
associated with counterparty non-performance of all of Series C's contracts is
the net unrealized gain included in the statements of financial condition. There
can be no assurance that any counterparty, clearing member or clearinghouse will
meet its obligations to Series C.

   The Managing Owner attempts to minimize both credit and market risks by
requiring Series C and its trading advisor to abide by various trading
limitations and policies. The Managing Owner monitors compliance with these
trading limitations and policies, which include, but are not limited to,
executing and clearing all trades with creditworthy counterparties; limiting the
amount of margin or premium required for any one commodity or all commodities
combined; and generally limiting transactions to contracts which are traded in
sufficient volume to permit the taking and liquidating of positions.
Additionally, pursuant to the advisory agreement among Series C, the Managing
Owner and the trading advisor, Series C shall automatically terminate the
trading advisor if the net asset value allocated to the trading advisor declines
by 33 1/3% from the value at the beginning of any year or since the effective
date of the advisory agreement. Furthermore, the Second Amended and Restated
Declaration of Trust and Trust Agreement provides that Series C will liquidate
its positions, and eventually dissolve, if Series C experiences a decline in the
net asset value of 50% from the value at the beginning of any year or since the
commencement of trading activities. In each case, the decline in net asset value
is after giving effect for distributions, contributions and redemptions. The
Managing Owner may impose additional restrictions (through modifications of
trading limitations and policies) upon the trading activities of the trading
advisor as it, in good faith, deems to be in the best interests of Series C.

   PSI, when acting as Series C's futures commission merchant in accepting
orders for the purchase or sale of domestic futures contracts, is required by
Commodity Futures Trading Commission ('CFTC') regulations to separately account
for and segregate as belonging to Series C all assets of Series C relating to
domestic futures trading (subject to the recent opt out provisions discussed
below) and is not allowed to commingle such assets with other assets of PSI. At
June 29, 2001, such segregated assets totalled $5,514,839. Part 30.7 of the CFTC
regulations also requires PSI to secure assets of Series C related to foreign
futures trading, which totalled $2,110,347 at June 29, 2001. There are no
segregation requirements for assets related to forward trading.

   The CFTC recently promulgated rules that allow futures commission merchants
to permit certain customers, including Series C, to opt out of segregation with
regard to trading on certain exchanges, but PSI has

                                       5

<Page>
not done so to date. If Series C were to opt out, its funds could be held in a
broader and riskier range of investments.

   As of June 29, 2001, Series C's open futures contracts mature within six
months.

   The following table presents the fair value of futures contracts at June 29,
2001 and December 31, 2000:

<Table>
<Caption>
                                                       2001                               2000
                                           ----------------------------       ----------------------------
                                             Assets         Liabilities         Assets         Liabilities
                                           ----------       -----------       ----------       -----------
<S>                                        <C>              <C>               <C>              <C>
  Domestic exchanges
     Interest rates                        $   18,609         $15,095         $  690,183         $    --
     Stock indices                                 --           7,000                 --              --
     Currencies                                64,563          12,450            299,500              --
     Commodities                              149,560           2,363             29,920          14,700
  Foreign exchanges
     Interest rates                            39,637           1,547            212,658              --
     Stock indices                             75,848          33,579             38,411          13,862
     Commodities                               70,980              --            122,330              --
                                           ----------       -----------       ----------       -----------
                                           $  419,197         $72,034         $1,393,002         $28,562
                                           ----------       -----------       ----------       -----------
                                           ----------       -----------       ----------       -----------
</Table>

D. Financial Highlights

<Table>
<Caption>
                                                           Year-To-Date 2001     Second Quarter 2001
                                                           ------------------    --------------------
   <S>                                                     <C>                   <C>
   Performance per Interest
      Net asset value, beginning of period                      $  93.28               $  94.26
                                                              ----------             ----------
      Net realized gain and change in net unrealized
         gain/loss on commodity transactions                       (4.96)                 (6.89)
     Interest income                                                2.19                    .96
     Expenses                                                      (4.33)                 (2.15)
                                                              ----------             ----------
     Decrease for the period                                       (7.10)                 (8.08)
                                                              ----------             ----------
     Net asset value, end of period                             $  86.18               $  86.18
                                                              ----------             ----------
                                                              ----------             ----------
   Total return                                                    (7.61)%                (8.57)%
   Ratio to average net assets
     Interest income                                                4.88%                  4.35%
     Expenses                                                       9.58%                  9.67%
</Table>
                                       6

<Page>
                         WORLD MONITOR TRUST--SERIES C
                          (a Delaware Business Trust)
           ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                      CONDITION AND RESULTS OF OPERATIONS

Liquidity and Capital Resources

   Series C commenced operations on June 10, 1998 with gross proceeds of
$5,706,177 allocated to commodities trading. Additional contributions raised
through the continuous offering for the period from June 10, 1998 (commencement
of operations) to June 29, 2001 resulted in additional gross proceeds to Series
C of $17,803,385. Additional Interests of Series C will continue to be offered
on a weekly basis at the net asset value per Interest until the subscription
maximum of $33,000,000 is sold.

   Interests in Series C may be redeemed on a weekly basis, but are subject to a
redemption fee if transacted within one year of the effective date of purchase.
Redemptions of limited interests for Year-To-Date 2001 and Second Quarter 2001
were $1,736,599 and $ 851,100, respectively, and for general interests were
$19,464 and $9,461, respectively. Redemptions of limited and general interests
for the period from June 10, 1998 (commencement of operations) to June 29, 2001
were $11,524,805 and $114,783, respectively. Additionally, Interests owned in
one series of World Monitor Trust (Series A, B and C) may be exchanged, without
any charge, for Interests of one or more other series of World Monitor Trust on
a weekly basis for as long as Interests in those series are being offered to the
public. Since Interests in Series A are no longer being offered, participants
can no longer exchange their Interests from Series B and/or Series C into Series
A; however, participants can currently continue to exchange their Interests from
Series A to Series B and/or Series C. Future contributions, redemptions and
exchanges will impact the amount of funds available for investment in commodity
contracts in subsequent periods.

   At June 29, 2001, 100% of Series C's net assets were allocated to commodities
trading. A significant portion of the net assets was held in cash, which is used
as margin for Series C's trading in commodities. Inasmuch as the sole business
of Series C is to trade in commodities, Series C continues to own such liquid
assets to be used as margin. PSI credits Series C monthly with 100% of the
interest it earns on the average net assets in Series C's accounts.

   The commodities contracts are subject to periods of illiquidity because of
market conditions, regulatory considerations and other reasons. For example,
commodity exchanges limit fluctuations in certain commodity futures contract
prices during a single day by regulations referred to as 'daily limits.' During
a single day, no trades may be executed at prices beyond the daily limit. Once
the price of a futures contract for a particular commodity has increased or
decreased by an amount equal to the daily limit, positions in the commodity can
neither be taken nor liquidated unless traders are willing to effect trades at
or within the limit. Commodity futures prices have occasionally moved the daily
limit for several consecutive days with little or no trading. Such market
conditions could prevent Series C from promptly liquidating its commodity
futures positions.

   Since Series C's business is to trade futures and forward contracts, its
capital is at risk due to changes in the value of these contracts (market risk)
or the inability of counterparties to perform under the terms of the contracts
(credit risk). Series C's exposure to market risk is influenced by a number of
factors including the volatility of interest rates and foreign currency exchange
rates, the liquidity of the markets in which the contracts are traded and the
relationships among the contracts held. The inherent uncertainty of Series C's
speculative trading, as well as the development of drastic market occurrences,
could result in monthly losses considerably beyond Series C's experience to date
and could ultimately lead to a loss of all or substantially all of investors'
capital. The Managing Owner attempts to minimize these risks by requiring Series
C and its trading advisor to abide by various trading limitations and policies,
which include limiting margin amounts, trading only in liquid markets and
permitting the use of stop loss provisions. See Note C to the financial
statements for a further discussion on the credit and market risks associated
with Series C's futures and forward contracts.

   Series C does not have, nor does it expect to have, any capital assets.

                                       7

<Page>
Results of Operations

   The net asset value per Interest as of June 29, 2001 was $86.18, a decrease
of 7.61% from the December 31, 2000 net asset value per Interest of $93.28 and
a decrease of 8.57% from the March 30, 2001 net asset value of $94.26. Past
performance is not necessarily indicative of future results.

   Series C's gross trading losses were $463,000 and $641,000 during
Year-To-Date 2001 and Second Quarter 2001 compared to $5,203,000 and $1,362,000
during Year-To-Date 2000 and Second Quarter 2000. Due to the nature of Series
C's trading activities, a period to period comparison of its trading results is
not meaningful. However, a detailed discussion of Series C's Second Quarter 2001
trading results is presented below.

Quarterly Market Overview

   The global economy remained sluggish during the second quarter of 2001 and as
a result, U.S. and global stock markets continued their downward trend. In the
U.S., heightened concerns regarding cutbacks in industrial production and future
sales caused downward revisions of corporate earnings. Business investment and
capital spending were weak and appeared to be decreasing further, reflecting in
part the downtrend in manufacturing output. Labor demand weakened considerably
and unemployment rose. Consumer spending held up relatively well despite
deceleration in income, reduced household net worth, and deterioration in
consumer sentiment. Economic activity in foreign industrial countries
decelerated as well, due in part to softening of the U.S. economy, weakness in
world high-tech markets and the downward adjustment in global equity prices.
Expansion in Europe, including the United Kingdom, and Canada slowed
significantly, while the Japanese economy slowed after a brief rebound late last
year. In addition, economic growth in many developing countries softened,
reflecting, in part, weaker external demand. In the U.S., overall inflation, as
measured by the Consumer Price Index (CPI), increased slightly, but was held
down by a deceleration in energy prices.

   As a result of weak global economies, equity markets continued to perform
poorly during most of the quarter. In April, U.S. equity markets, particularly
the NASDAQ, rallied briefly after the U.S. Federal Reserve (Fed) called an
unscheduled meeting to lower interest rates before falling once again amid
continuing softening economies and fears of weak corporate earnings. Markets
rose briefly once again in June following the U.S. Federal Reserve's 25 basis
point interest rate cut. This smaller than anticipated rate reduction seemed to
signal a cessation of the Fed's recent series of aggressive rate cuts and caused
many investors to exit the bond market and invest in equities.

   Interest rate instruments trended upward throughout most of the quarter as
major central banks cut short-term interest rates in an attempt to bolster
slowing economies. The U.S. Federal Reserve cut rates three times during the
quarter lowering rates from 4.50% to 3.75%. The European Central Bank and the
Bank of England cut interest rates by 25 basis points in May. This was the third
interest rate reduction in five months for the Bank of England. Global bonds
reversed downward towards quarter-end as the Fed cut rates by only 25 basis
points, driving many investors out of interest rate instruments and into
equities.

   In foreign exchange markets, the Japanese yen started the quarter strong
before weakening against the U.S. dollar and other foreign currencies. This
followed a government report that Japan's GDP shrank in the first quarter,
generating fears that the Japanese economy may be slipping into recession. The
Canadian dollar posted gains against the U.S. dollar as economic reports showed
a 1.7% increase in exports to the U.S. in June. The British pound reached a 15
year low against the U.S. dollar in June amid concern that England would join
the European Monetary Union. The euro declined against the U.S. dollar as well,
amid signs of continuing weakness in the European economy.

   Energy prices fell in response to growing inventory levels of crude oil and
related products. The American Petroleum Institute reported that the U.S.
gasoline supply had reached its highest level in two years. Swelling energy
inventories fed fears of an overall weakening demand for fuels in the slowing
global economy. Additionally, the market fell when tropical storm Allison caused
less damage along the Gulf Coast than was originally feared.

                                       8

<Page>
Quarterly Performance of Series C

   The following is a summary of performance for the major sectors in which
Series C traded:

   Stock indices (-): Weak global economies and concerns regarding corporate
earnings resulted in continued poor performance in the equity markets. Hong Kong
Hang Seng, Nikkei Dow and DAX positions resulted in losses for Series C.

   Currencies (-): The euro declined against the U.S. dollar, Swiss franc and
other foreign currencies amid fears of weakening European economies resulting
in losses for long euro positions and short Swiss franc positions.

   Interest rates (-): Prices of most interest rate instruments trended upward
throughout most of the quarter due to short-term interest rate cuts by major
central banks in an attempt to bolster slowing economies. Short positions in
Japanese government and eurodollar bonds resulted in losses for the Series C.

   Energies (+): Short natural gas positions resulted in gains as increased
inventories and weakening demand drove prices downward.

   As of June 7, 2000, Hyman Beck & Company, Inc. ('Hyman Beck') ceased to serve
as a trading manager to Series C. The advisory agreement among Series C, the
Managing Owner and Hyman Beck was automatically terminated when the assets
allocated to Hyman Beck declined by greater than 33 1/3% from their initial
allocation on June 10, 1998. On November 13, 2000, the Managing Owner entered
into a new advisory agreement with Northfield Trading L.P (the 'Trading
Advisor') to make the trading decisions for Series C.

   Series C's average net asset levels during Year-To-Date 2001 and Second
Quarter 2001 have significantly decreased from the Year-To-Date 2000 and Second
Quarter 2000 levels primarily due to redemptions during 2001 and 2000. Favorable
trading performance during the fourth quarter of 2000 helped to mitigate this
decline in net assets at the start of the 2001 year. The declining asset levels
led to proportionate decreases in the amount of interest earned by Series C, as
well as commissions and management fees incurred, as further discussed below.

   Interest income is earned on the average net assets held at PSI and,
therefore, varies monthly according to interest rates, trading performance,
contributions and redemptions. Interest income decreased $223,000 and $118,000
during Year-To-Date 2001 and Second Quarter 2001 as compared to Year-To-Date
2000 and Second Quarter 2000, respectively, due to the decreases in average net
asset levels, as discussed above, as well as the decline in interest rates
during 2001 versus 2000.

   Commissions are calculated on Series C's net asset value at the end of each
week and, therefore, vary according to weekly trading performance, contributions
and redemptions. Commissions decreased $165,000 and $34,000 during Year-To-Date
2001 and Second Quarter 2001 as compared to Year-To-Date 2000 and Second Quarter
2000, respectively, due to the decreases in average net asset levels, as
discussed above, offset, in part, by the fact that no commissions were generated
while Series C's assets were not allocated to commodities trading during the
period from June 7, 2000 to November 13, 2000.

   Management fees are calculated on Series C's net asset value allocated to the
trading advisor at the end of each week and, therefore, are affected by weekly
trading performance, contributions and redemptions. Management fees decreased
$42,000 and $8,000 during Year-To-Date 2001 and Second Quarter 2001 as compared
to Year-To-Date 2000 and Second Quarter 2000, respectively, due to the decreases
in average net asset levels as discussed above, offset, in part, by the fact
that no management fees were generated while Series C's assets were not
allocated to commodities trading during the period from June 7, 2000 to November
13, 2000.

   Incentive fees are based on 'New High Net Trading Profits' generated by the
trading advisor as defined in the advisory agreement among Series C, the
Managing Owner and the trading advisor. No incentive fees were paid during
Year-To-Date 2001 or Year-To-Date 2000.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

   Information regarding quantitative and qualitative disclosures about market
risk is not required pursuant to Item 305(e) of Regulation S-K.

                                       9

<Page>
                           PART II. OTHER INFORMATION

Item 1. Legal Proceedings--There are no material legal proceedings pending by
        or against Series C or the Managing Owner.

Item 2. Changes in Securities--None

Item 3. Defaults Upon Senior Securities--None

Item 4. Submission of Matters to a Vote of Security Holders--None

Item 5. Other Information--None

Item 6. (a) Exhibits--

 3.1
 and
 4.1--Second Amended and Restated Declaration of Trust and Trust Agreements of
      World Monitor Trust dated as of March 17, 1998 (incorporated by reference
      to Exhibits 3.1 and 4.1 to Series C's Registration Statement on Form S-1,
      File No. 333-43043)

 4.2--Form of Request for Redemption (incorporated by reference to Exhibit 4.2
      to Series C's Registration Statement on Form S-1, File No. 333-43043)

 4.3--Form of Exchange Request (incorporated by reference to Exhibit 4.3 to
      Series C's Registration Statement on Form S-1, File No. 333-43043)

 4.4--Form of Subscription Agreement (incorporated by reference to Exhibit 4.4
      to Series C's Registration Statement on Form S-1, File No. 333-43043)

      (b) Reports on Form 8-K--None

                                       10

<Page>
                                   SIGNATURES

   Pursuant to the requirements of the Securities Exchange Act of 1934, Series
C has duly caused this report to be signed on its behalf by the undersigned
thereunto duly authorized.

WORLD MONITOR TRUST--SERIES C

By: Prudential Securities Futures Management Inc.
    A Delaware corporation, Managing Owner

     By: /s/ Steven Carlino                       Date: August 10, 2001
     ----------------------------------------
     Steven Carlino
     Vice President and Treasurer
                                       11