UNITED STATES


SECURITIES AND EXCHANGE COMMISSION


Washington, D.C. 20549







FORM 10-K/A




x
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934




For the Fiscal Year Ended December 31, 2007


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:  000-50728





FUTURES PORTFOLIO FUND, LIMITED PARTNERSHIP


(Exact name of registrant as specified in its charter)


Maryland

52-1627106(State of Incorporation)

( IRS Employer Identification No.)





c/o Steben & Company, Inc.


2099 Gaither Road, Suite 200


Rockville, Maryland20850


(Address of Principal Executive Office)(zip code)





(240) 631-9808


Registrants telephone number, including area code:








Indicate by check mark 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.  x  Yes   ̈  No





Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§ 229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrants knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment
to this Form 10-K.   ̈





Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.  ̈  Yes  x  No


Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.  ̈  Yes  x  No





Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of accelerated filer and large accelerated filer in Rule 12b-2 of the Exchange Act. (Check one):


Large accelerated filer   ̈
Accelerated filer   ̈
Non-accelerated filer  x





Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). ̈Yes  x 
No





Aggregate market value of the voting and non-voting common equity held by non-affiliates: the registrant is a limited partnership; as of December 31, 2007, 94,188.7078 Class A units and 36,968.6171 Class B units with an aggregate value of $364,289,314 and $180,817,671 respectively, were outstanding.





Securities to be registered pursuant to Section 12(b) of the Act: NONE


Securities to be registered pursuant to Section 12(g) of the Act:  Limited Partnership Interests





Documents Incorporated by Reference




Registrant's Financial Statements for the year ended December 31, 2007 with Report of Independent Registered Public Accounting Firm and the annual report to security holders for the fiscal year ended December 31, 2007, is incorporated by reference into Part II Item 8 and Part IV hereof and filed as an exhibit herewith.









Part I








EXPLANATORY NOTE





Futures Portfolio Fund, Limited Partnership has amended its Annual Report on Form 10-K. This annual report is for the year ended December 31, 2007, and was originally filed with the Commission on March 28, 2008. The purpose of this amendment is to revise the Principal Executive Officer and Principal Financial Officer certifications to include
paragraph 4(b) of the certification required by Exchange Act Rule 13a-14(a) as outlined in Item 601(B)(31)(i) of Regulation S-K. The amended certifications do not include Item 3, which refers to financial information not included in this amendment. Please read all of our filings with the Commission in conjunction with this Form 10K/A.











SIGNATURES





Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the General Partner of the Registrant in the capacities and on the date indicated.





Name
Title
Date/s/ Kenneth E. Steben
Kenneth E. Steben
President, Chief Executive Officer
and Director
March 28, 2008/s/ Ahmed S. Hassanein
Ahmed S. Hassanein
Chief Operating Officer, Chief
Financial Officer and Director
March 28, 2008/s/ Michael Bulley
Michael D. Bulley
Senior Vice President, Research &
Risk Management and Director
March 28, 2008








Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.





Dated March 28, 2008
FUTURES PORTFOLIO FUND, LIMITED PARTNERSHIPBy:
Steben & Company, Inc.General PartnerBy:
/s/ Kenneth E. StebenName:
Kenneth E. StebenTitle:
President, Chief Executive Officer andDirector of the General Partner