##### Table of Contents

 

 

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, DC 20549**

 

**
 
**

**FORM 10-Q**

 

**
 
**

 

**For the Period Ended September 30, 2010**

**OR**

 

**Commission File Number 000-51274**

 

**
 
**

**THE FRONTIERFUND**

**FRONTIER DIVERSIFIED SERIES; FRONTIER DYNAMIC SERIES; FRONTIER LONG/SHORT**

**COMMODITY SERIES; FRONTIER MASTERS SERIES**

**BALANCED SERIES; CAMPBELL/GRAHAM/TIVERTON SERIES; CURRENCY SERIES; LONG**

**ONLY COMMODITY SERIES; MANAGED FUTURES INDEX SERIES; WINTON SERIES;**

**WINTON/GRAHAM SERIES**

**(Exact Name of Registrant as specified in its Charter)**

 

**
 
**

 

**c/o Equinox Fund Management, LLC**

**1775 Sherman Street, Suite 2500**

**Denver, Colorado 80203**

**(Address of Principal Executive Offices)**

**(303) 837-0600**

**(Registrant’s Telephone Number)**

 

**
 
**

**Securities tobe registered pursuant to Section 12(b) of the Act: None**

**Securities registered pursuant to Section 12(g) ofthe Act:**

**Frontier Diversified Series Class 1, Class 2 and Class 3 Units;**

**Frontier Dynamic Series Class 1, Class 2 and Class 3 Units;**

**Frontier Long/Short Commodity Series Class 1, Class 2, Class 3, Class 1a, Class 2a and Class 3a Units;**

**Frontier Masters Series Class 1, Class 2 and Class 3 Units;**

**BalancedSeries Class 1, Class 2, Class 3, Class 1a, Class 2a and Class 3a Units;**

**Campbell/Graham/Tiverton Series Class 1, Class2 and Class 3 Units;**

**Currency Series Class 1, Class 2 and Class 3 Units;**

**Long Only Commodity Series Class 1, Class 2 and Class 3 Units;**

**Managed Futures Index Series Class 1, Class 2 and Class 3 Units**

**Winton Series Class 1, Class 2 and Class 3 Units;**

**Winton/Graham Series Class 1, Class 2 and Class 3 Units**

 

**
 
**

Indicate by check mark whetherthe 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 90days.    Yes  x    No   ̈

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post suchfiles)    Yes   ̈    No   ̈

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large acceleratedfiler,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. 

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 1 2b-2 of the Exchange Act).    Yes   ̈    No  x

 

 

 

Table of Contents
 

**TABLE OF CONTENTS**

 
**PART I – FINANCIAL INFORMATION**   
Item 1.
 
Financial Statements
    
Statements of Financial Condition as of September 30, 2010 (Unaudited) and December 31,2009
   4    
Condensed Schedule of Investments as of September 30, 2010 (Unaudited) and December 31,2009
   8    
Statements of Operations for the Three and Nine Months Ended September 30, 2010 and 2009(Unaudited)
   20    
Statements of Changes in Owners’ Capital for the Nine Months Ended September 30, 2010(Unaudited)
   28    
Notes to Financial Statements (Unaudited)
   34   
Item 2.
 
Management’s Discussion and Analysis of Financial Condition and Results ofOperations
   65   
Item 3.
 
Quantitative and Qualitative Disclosures About Market Risk
   102   
Item 4.
 
Controls and Procedures
   110  **PART II – OTHER INFORMATION**   
Item 1.
 
Legal Proceedings
   110   
Item 1A.
 
Risk Factors
   110   
Item 2.
 
Unregistered Sales of Equity Securities and Use of Proceeds
   110   
Item 3.
 
Defaults Upon Senior Securities
   110   
Item 4.
 
Removed and Reserved
   110   
Item 5.
 
Other Information
   111   
Item 6.
 
Exhibits
   111  **SIGNATURES**   112  
 
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**Special Note AboutForward-Looking Statements**

THIS REPORT CONTAINS STATEMENTS WHICH CONSTITUTE FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATESECURITIES LITIGATION REFORM ACT OF 1995 AND OTHER FEDERAL SECURITIES LAWS. THESE FORWARD-LOOKING STATEMENTS REFLECT THE MANAGING OWNER’S CURRENT EXPECTATIONS ABOUT THE FUTURE RESULTS, PERFORMANCE, PROSPECTS AND OPPORTUNITIES OF THE TRUST. THEMANAGING OWNER HAS TRIED TO IDENTIFY THESE FORWARD-LOOKING STATEMENTS BY USING WORDS SUCH AS “MAY,” “WILL,” “EXPECT,” “ANTICIPATE,” “BELIEVE,” “INTEND,” “SHOULD,”“ESTIMATE” OR THE NEGATIVE OF THOSE TERMS OR SIMILAR EXPRESSIONS. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON INFORMATION CURRENTLY AVAILABLE TO THE MANAGING OWNER AND ARE SUBJECT TO A NUMBER OF RISKS, UNCERTAINTIES AND OTHER FACTORS,BOTH KNOWN, SUCH AS THOSE DESCRIBED IN THE “RISK FACTORS” SECTION UNDER ITEM 1A AND ELSEWHERE IN THIS REPORT, AND UNKNOWN, THAT COULD CAUSE THE TRUST’S ACTUAL RESULTS, PERFORMANCE, PROSPECTS OR OPPORTUNITIES TO DIFFER MATERIALLYFROM THOSE EXPRESSED IN, OR IMPLIED BY, THESE FORWARD-LOOKING STATEMENTS. 

YOU SHOULD NOT PLACE UNDUE RELIANCE ON ANY FORWARD-LOOKINGSTATEMENTS. EXCEPT AS EXPRESSLY REQUIRED BY THE FEDERAL SECURITIES LAWS, THE MANAGING OWNER UNDERTAKES NO OBLIGATION TO PUBLICLY UPDATE OR REVISE ANY FORWARD-LOOKING STATEMENTS OR THE RISKS, UNCERTAINTIES OR OTHER FACTORS DESCRIBED HEREIN, AS ARESULT OF NEW INFORMATION, FUTURE EVENTS OR CHANGED CIRCUMSTANCES OR FOR ANY OTHER REASON AFTER THE DATE OF THIS REPORT. 

UNLESS EXPRESSLYSTATED OTHERWISE, ALL INFORMATION IN THIS REPORT IS AS OF SEPTEMBER 30, 2010, AND THE MANAGING OWNER UNDERTAKES NO OBLIGATION TO UPDATE THIS INFORMATION. 

 
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**The Frontier Fund**

**PART I. FINANCIAL INFORMATION**

 
**ITEM 1.****Financial Statements**
**The Frontier Fund**

**Statements of Financial Condition**

**September 30, 2010 and December 31, 2009**

 
   **Frontier Diversified Series (1)**   **Frontier Dynamic Series (1)**   **Frontier Long/Short**