|   | MORGAN STANLEY SMITH BARNEY CHARTER WNT L.P.           |   |
|--------|--------------------------------------------------------|--------|
|   | (Exact name of registrant as specified in its charter) |   |

|                                     | Delaware                                                                                                              |       | 13-4018065                          |
|------------------------------------------|-----------------------------------------------------------------------------------------------------------------------|------------|-------------------------------------|
|                                     |      (State or other jurisdiction of      incorporation or organization) |       | (I.R.S. EmployerIdentification No.) |
|                                     |                                                                                                                  |       |                                |
| Demeter Management LLC                   |                                                                                                                  |       |
| 522 Fifth Avenue, 14th Floor             |                                                                                                                  |       |
| New York, NY                             |                                                                                                                  | 10036      |
| (Address of principal executive offices) |                                                                                                                  | (Zip Code) |

| Registrant’s telephone number, including area code |   | (212) 296-1999 |
|----------------------------------------------------------|--------|----------------|

| Large accelerated filer o | Accelerated filer o         |
|---------------------------|-----------------------------|
| Non-accelerated filer x   | Smaller reporting company o |

----

|     | PART I. FINANCIAL INFORMATION                                                                          |             |
|----------|--------------------------------------------------------------------------------------------------------|------------------|
|     |                                                                                                   |             |
| Item 1.  | Financial Statements (Unaudited)                                                                       |             |
|     |                                                                                                   |             |
|     | Statements of Financial Condition as of September 30, 2010 and December 31, 2009                       | 2                |
|     |                                                                                                   |             |
|     | Statements of Operations for the Three and Nine Months Ended September 30, 2010 and 2009               | 3                |
|     |                                                                                                   |             |
|     | Statements of Changes in Partners’ Capital for the Nine Months Ended September 30, 2010 and 2009 | 4                |
|     |                                                                                                   |             |
|     | Condensed Schedules of Investments as of  September 30, 2010 and December 31, 2009           | 5                |
|     |                                                                                                   |             |
|     | Notes to Financial Statements                                                                          |   6-23 |
|     |                                                                                                   |             |
| Item 2.  | Management’s Discussion and Analysis of Financial Condition and Results of Operations            | 24-34            |
|     |                                                                                                   |             |
| Item 3.  | Quantitative and Qualitative Disclosures About Market Risk                                             | 35-46            |
|     |                                                                                                   |             |
| Item 4.  | Controls and Procedures                                                                                | 46-47            |
|     |                                                                                                   |             |
|     | PART II. OTHER INFORMATION                                                                             |             |
|     |                                                                                                   |             |
| Item 1A. | Risk Factors                                                                                           | 48               |
|     |                                                                                                   |             |
| Item 6.  | Exhibits                                                                                               | 48               |

----

|                                                                   |   September 30, |   | December 31, |
|------------------------------------------------------------------------|---------------------------|--------|--------------|
|                                                                   | 2010                      |   | 2009         |
| ASSETS                                                                 | $                         |   | $            |
|                                                                   |                      |   |         |
| Trading Equity:                                                        |                      |   |         |
| Unrestricted cash                                                      | 82,160,808                |   | 86,689,859   |
| Restricted cash                                                        | 3,762,948                 |   | 6,125,936    |
|                                                                   |                      |   |         |
| Total cash                                                             | 85,923,756                |   | 92,815,795   |
|                                                                   |                      |   |         |
| Net unrealized gain on open contracts (MS&Co.)                     | 3,284,650                 |   | 180,236      |
| Net unrealized gain on open contracts (MSIP)                           | 35,574                    |   | 290,005      |
|                                                                   |                      |   |         |
| Total net unrealized gain on open contracts                            | 3,320,224                 |   | 470,241      |
|                                                                   |                      |   |         |
| Options purchased (premiums paid $4,315 and $4,263, respectively)      | 3,152                     |   | 2,053        |
|                                                                   |                      |   |         |
| Total Trading Equity                                                   | 89,247,132                |   | 93,288,089   |
|                                                                   |                      |   |         |
| Interest receivable (MSSB)                                             | 8,026                     |   | 1,324        |
|                                                                   |                      |   |         |
| Total Assets                                                           | 89,255,158                |   | 93,289,413   |
|                                                                   |                      |   |         |
| LIABILITIES AND PARTNERS’ CAPITAL                                |                      |   |         |
|                                                                   |                      |   |         |
| Liabilities                                                            |                      |   |         |
|                                                                   |                      |   |         |
| Redemptions payable                                                    | 2,556,279                 |   | 558,871      |
| Accrued brokerage fees (MS&Co.)                                    | 442,453                   |   | 479,005      |
| Accrued management fees                                                | 147,484                   |   | 159,668      |
| Options written (premiums received $8,460 and $9,400, respectively)    | 6,560                     |   | 4,693        |
|                                                                   |                      |   |         |
| Total Liabilities                                                      | 3,152,776                 |   | 1,202,237    |
|                                                                   |                      |   |         |
| Partners’ Capital                                                |                      |   |         |
|                                                                   |                      |   |         |
| Limited Partners (7,075,683.878 and 7,969,131.800 Units, respectively) | 85,236,775                |   | 91,155,811   |
| General Partner (71,855.857 and 81,422.857 Units, respectively)        | 865,607                   |   | 931,365      |
|                                                                   |                      |   |         |
| Total Partners’ Capital                                          | 86,102,382                |   | 92,087,176   |
|                                                                   |                      |   |         |
| Total Liabilities and Partners’ Capital                          | 89,255,158                |   | 93,289,413   |
|                                                                   |                      |   |         |
| NET ASSET VALUE PER UNIT                                               | 12.05                     |   | 11.44        |

----

|                                         |                                                                       |   |                                         |
|----------------------------------------------|----------------------------------------------------------------------------|--------|----------------------------------------------|
|                                         |     For the Three MonthsEnded September  30, |   | For the Nine Months Ended September 30, |
|                                         |                                                                       |   |                                         |   |   |   |   |
|                                         | 2010                                                                       |   | 2009                                         |   | 2010 |   | 2009 |
|                                         | $                                                                          |   | $                                            |   | $ |   | $ |
| INVESTMENT INCOME                            |                                                                       |   |                                         |   |   |   |   |
| Interest income (MSSB)                       | 30,388                                                                     |   | 23,417                                       |   | 69,979 |   | 102,726 |
|                                         |                                                                       |   |                                         |   |   |   |   |
| EXPENSES                                     |                                                                       |   |                                         |   |   |   |   |
| Brokerage fees (MS&Co.)                  | 1,325,237                                                                  |   | 1,448,241                                    |   | 4,046,670 |   | 4,972,250 |
| Management fees                              | 441,745                                                                    |   | 482,749                                      |   | 1,348,890 |   | 1,657,417 |
| Incentive fee                                | –                                                                    |   | –                                      |   | – |   | 117,189 |
|                                         |                                                                       |   |                                         |   |   |   |   |
| Total Expenses                               | 1,766,982                                                                  |   | 1,930,990                                    |   | 5,395,560 |   | 6,746,856 |
|                                         |                                                                       |   |                                         |   |   |   |   |
| NET INVESTMENT LOSS                          | (1,736,594)                                                                |   | (1,907,573)                                  |   | (5,325,581) |   | (6,644,130) |
|                                         |                                                                       |   |                                         |   |   |   |   |
| TRADING RESULTS                              |                                                                       |   |                                         |   |   |   |   |
| Trading profit (loss):                       |                                                                       |   |                                         |   |   |   |   |
| Realized                                     | 592,464                                                                    |   | (1,579,238)                                  |   | 7,113,714 |   | (7,060,227) |
| Net change in unrealized                     | 2,229,826                                                                  |   | 2,782,217                                    |   | 2,848,223 |   | 524,398 |
|                                         | 2,822,290                                                                  |   | 1,202,979                                    |   | 9,961,937 |   | (6,535,829) |
| Proceeds from Litigation Settlement          | 40,150                                                                     |   | –                                      |   | 40,150 |   | – |
|                                         |                                                                       |   |                                         |   |   |   |   |
| Total Trading Results                        | 2,862,440                                                                  |   | 1,202,979                                    |   | 10,002,087 |   | (6,535,829) |
|                                         |                                                                       |   |                                         |   |   |   |   |
| NET INCOME (LOSS)                            | 1,125,846                                                                  |   | (704,594)                                    |   | 4,676,506 |   | (13,179,959) |
|                                         |                                                                       |   |                                         |   |   |   |   |
| NET INCOME (LOSS) ALLOCATION                 |                                                                       |   |                                         |   |   |   |   |
|                                         |                                                                       |   |                                         |   |   |   |   |
| Limited Partners                             | 1,115,143                                                                  |   | (697,748)                                    |   | 4,629,836 |   | (13,047,358) |
| General Partner                              | 10,703                                                                     |   | (6,846)                                      |   | 46,670 |   | (132,601) |
|                                         |                                                                       |   |                                         |   |   |   |   |
|                                         |                                                                       |   |                                         |   |   |   |   |
| NET INCOME (LOSS) PER UNIT *                 |                                                                       |   |                                         |   |   |   |   |
|                                         | 0.16                                                                       |   | (0.08)                                       |   | 0.61 |   | (1.47) |
| Limited Partners                             | 0.16                                                                       |   | (0.08)                                       |   | 0.61 |   | (1.47) |
| General Partner                              |                                                                       |   |                                         |   |   |   |   |
|                                         | Units                                                                      |   | Units                                        |   | Units |   | Units |
|                                         |                                                                       |   |                                         |   |   |   |   |
| WEIGHTED AVERAGE NUMBER OF UNITS OUTSTANDING |  7,490,037.378                                                        |   |  8,414,248.855                          |   |  7,735,384.027 |   |  8,941,574.713 |

----

|                     | Units of        |   |         |   |      |   |         |
|--------------------------|-----------------|--------|--------------|--------|-----------|--------|--------------|
|                     | Partnership     |   | Limited      |   | General   |   |         |
|                     | Interest        |   | Partners     |   | Partner   |   | Total        |
|                     |            |   | $            |   | $         |   | $            |
| Partners’ Capital, |            |   |         |   |      |   |         |
| December 31, 2009        | 8,050,554.657   |   | 91,155,811   |   | 931,365   |   | 92,087,176   |
|                     |            |   |         |   |      |   |         |
| Net Income               | –         |   | 4,629,836    |   | 46,670    |   | 4,676,506    |
|                     |            |   |         |   |      |   |         |
| Redemptions              | (903,014.922)   |   | (10,548,872) |   | (112,428) |   | (10,661,300) |
|                     |            |   |         |   |      |   |         |
| Partners’ Capital, |            |   |         |   |      |   |         |
| September 30, 2010       | 7,147,539.735   |   | 85,236,775   |   | 865,607   |   | 86,102,382   |
|                     |            |   |         |   |      |   |         |
|                     |            |   |         |   |      |   |         |
|                     |            |   |         |   |      |   |         |
|                     |            |   |         |   |      |   |         |
| Partners’ Capital, |            |   |         |   |      |   |         |
| December 31, 2008        | 10,331,687.713  |   | 133,141,833  |   | 1,352,349 |   | 134,494,182  |
|                     |            |   |         |   |      |   |         |
| Net Loss                 | –         |   | (13,047,358) |   | (132,601) |   | (13,179,959) |
|                     |            |   |         |   |      |   |         |
| Redemptions              | (1,999,366.215) |   | (24,895,607) |   | (253,076) |   | (25,148,683) |
|                     |            |   |         |   |      |   |         |
| Partners’ Capital, |            |   |         |   |      |   |         |
| September 30, 2009       | 8,332,321.498   |   | 95,198,868   |   | 966,672   |   | 96,165,540   |

----

| Futures and Forward Contracts                                        | Long UnrealizedGain                                                                                                                                                          | Percentage ofNet Assets                                                                                                                     | Short  UnrealizedLoss                                                                                                         | Percentage ofNet Assets                                                                                                                                  |      Net Unrealized  Gain/(Loss)                                                                                                                                                         |
|----------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                 | $                                                                                                                                                                            | %                                                                                                                                           | $                                                                                                                                       | %                                                                                                                                                        | $                                                                                                                                                                                                                           |
| September 30, 2010, Partnership Partners’ Capital: $86,102,382 |                                                                                                                                                                         |                                                                                                                                        |                                                                                                                                    |                                                                                                                                                     |                                                                                                                                                                                                                        |
|                                                                 |                                                                                                                                                                         |                                                                                                                                        |                                                                                                                                    |                                                                                                                                                     |                                                                                                                                                                                                                        |
|     Commodity                                         | 1,268,344                                                                                                                                                                    |          1.47                                                                                  |                    (195,689)                  | (0.23)                                                                                                                                                   | 1,072,655                                                                                                                                                                                                                   |
|     Equity                                            | 64,060                                                                                                                                                                       | 0.08                                                                                                                                        | (16,061)                                                |                 (0.02)                                                        | 47,999                                                                                                                                                                                                                      |
|     Foreign currency                             | 1,335,026                                                                                                                                                                    |                        1.55   | (580,389)                                                    | (0.67)                                                                                                                                                   |                         754,637                                                                          |
|     Interest rate                                     |     1,457,305                                                                                                                                            |   1.69                                                                                                                            |                 (73)                                         |                       –    |                    1,457,232                                                                                                      |
|                                                                 |                                                                                                                                                                         |                                                                                                                                        |                                                                                                                                    |                                                                                                                                                     |                                                                                                                                                                                                                        |
| Grand Total:                                                         |      4,124,735                                                                                                                                      |   4.79                                                                                                                            |       (792,212)                | (0.92)                                                                                                                                                   |                        3,332,523                                                                              |
|                                                                 |                                                                                                                                                                         |                                                                                                                                        |                                                                                                                                    |                                                                                                                                                     |                                                                                                                                                                                                                        |
| Unrealized Currency Loss                                             |                                                                                                                                                                         |                                                                                                                                        |                                                                                                                                    |  (0.01)                                                                                                                                             |                                     (12,299) |
|                                                                 |                                                                                                                                                                         |                                                                                                                                        |                                                                                                                                    |                                                                                                                                                     |                                                                                                                                                                                                                        |
|     Total Net Unrealized Gain on Open Contracts       |                                                                                                                                                                         |                                                                                                                                        |                                                                                                                                    |                                                                                                                                                     |                        3,320,224                                                                              |
|                                                                 |                                                                                                                                                                         |                                                                                                                                        |                                                                                                                                    |                                                                                                                                                     |                                                                                                                                                                                                                        |
| Option Contracts                                                     | Fair Value                                                                                                                                                                   | % ofNet Assets                                                                                                                              |                                                                                                                                    |                                                                                                                                                     |                                                                                                                                                                                                                        |
|                                                                 | $                                                                                                                                                                            | %                                                                                                                                           |                                                                                                                                    |                                                                                                                                                     |                                                                                                                                                                                                                        |
| Options purchased on Futures Contracts                               | 3,152                                                                                                                                                                        | –                                                                                                                                     |                                                                                                                                    |                                                                                                                                                     |                                                                                                                                                                                                                        |
| Options purchased on Forward Contracts                               | –                                                                                                                                                                      | –                                                                                                                                     |                                                                                                                                    |                                                                                                                                                     |                                                                                                                                                                                                                        |
| Options written on Futures Contracts                                 | (6,560)                                                                                                                                                                      | (0.01)                                                                                                                                      |                                                                                                                                    |                                                                                                                                                     |                                                                                                                                                                                                                        |
| Options written on Forward Contracts                                 | –                                                                                                                                                                      | –                                                                                                                                     |                                                                                                                                    |                                                                                                                                                     |                                                                                                                                                                                                                        |
|                                                                 |                                                                                                                                                                         |                                                                                                                                        |                                                                                                                                    |                                                                                                                                                     |                                                                                                                                                                                                                        |
|                                                                 | Long UnrealizedGain/(Loss)                                                                                                                                                   | Percentage ofNet Assets                                                                                                                     | Short  UnrealizedGain/(Loss)                                                                                                  | Percentage ofNet Assets                                                                                                                                  |      Net Unrealized Gain/(Loss)                                                                                                                                                               |
|                                                                 | $                                                                                                                                                                            | %                                                                                                                                           | $                                                                                                                                       | %                                                                                                                                                        | $                                                                                                                                                                                                                           |
| December 31, 2009, Partnership Partners’ Capital: $92,087,176  |                                                                                                                                                                         |                                                                                                                                        |                                                                                                                                    |                                                                                                                                                     |                                                                                                                                                                                                                        |
|                                                                 |                                                                                                                                                                         |                                                                                                                                        |                                                                                                                                    |                                                                                                                                                     |                                                                                                                                                                                                                        |
| Commodity                                                            | 445,303                                                                                                                                                                      | 0.48                                                                                                                                        |                     (110,774)            | (0.12)                                                                                                                                                   | 334,529                                                                                                                                                                                                                     |
| Equity                                                               | 472,905                                                                                                                                                                      | 0.51                                                                                                                                        | (6,447)                                                           | (0.01)                                                                                                                                                   | 466,458                                                                                                                                                                                                                     |
| Foreign currency                                                     |                             (307,207) |                        (0.33) | (21,956)                                                          | (0.02)                                                                                                                                                   |                      (329,163)                                                                                          |
| Interest rate                                                        |          12,612                                                                                                                 |   0.02                                                                                                                            |             318                                                             |                       –    |                        12,930                                                                                 |
|                                                                 |                                                                                                                                                                         |                                                                                                                                        |                                                                                                                                    |                                                                                                                                                     |                                                                                                                                                                                                                        |
|      Grand Total:                           |        623,613                                                                                                                            |      0.68                                                                                                          |       (138,859)                                                                                           | (0.15)                                                                                                                                                   |                      484,754                                                                                            |
|                                                                 |                                                                                                                                                                         |                                                                                                                                        |                                                                                                                                    |                                                                                                                                                     |                                                                                                                                                                                                                        |
|      Unrealized Currency Loss               |                                                                                                                                                                         |                                                                                                                                        |                                                                                                                                    |  (0.02)                                                                                                                                             |                      (14,513)                                                                                           |
|                                                                 |                                                                                                                                                                         |                                                                                                                                        |                                                                                                                                    |                                                                                                                                                     |                                                                                                                                                                                                                        |
| Total Net Unrealized Gain on Open Contracts                          |                                                                                                                                                                         |                                                                                                                                        |                                                                                                                                    |                                                                                                                                                     |                          470,241                                                                    |
|                                                                 |                                                                                                                                                                         |                                                                                                                                        |                                                                                                                                    |                                                                                                                                                     |                                                                                                                                                                                                                        |
| Option Contracts                                                     | Fair Value                                                                                                                                                                   | % ofNet Assets                                                                                                                              |                                                                                                                                    |                                                                                                                                                     |                                                                                                                                                                                                                        |
|                                                                 | $                                                                                                                                                                            | %                                                                                                                                           |                                                                                                                                    |                                                                                                                                                     |                                                                                                                                                                                                                        |
| Options purchased on Futures Contracts                               | 2,053                                                                                                                                                                        | –                                                                                                                                     |                                                                                                                                    |                                                                                                                                                     |                                                                                                                                                                                                                        |
| Options purchased on Forward Contracts                               | –                                                                                                                                                                      | –                                                                                                                                     |                                                                                                                                    |                                                                                                                                                     |                                                                                                                                                                                                                        |
| Options written on Futures Contracts                                 | (4,693)                                                                                                                                                                      | (0.01)                                                                                                                                      |                                                                                                                                    |                                                                                                                                                     |                                                                                                                                                                                                                        |
| Options written on Forward Contracts                                 | –                                                                                                                                                                      | –                                                                                                                                     |                                                                                                                                    |                                                                                                                                                     |                                                                                                                                                                                                                        |

----

----

----

----

----

----

| 2)      | Requires no initial net investment or a smaller initial net investment than would be required for other types of contracts that would be expected to have a similar response relative to changes in market factors; and |
|-----------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|          | Net Unrealized Gains on Open Contracts | Longest Maturities  |
|---------------|----------------------------------------|---------------------|
| Date          | Exchange-Traded                        | Off-Exchange-Traded | Total | Exchange-Traded | Off-Exchange-Traded |
|          | $                                      | $                   | $ |   |   |
| Sep. 30, 2010 | 3,292,360                              | 27,864              | 3,320,224 | Dec. 2012 | Dec. 2010 |
| Dec. 31, 2009 |   470,241                    | -                   | 470,241 | Dec. 2011 | - |

----

----

----

| Futures and Forward Contracts               |  Long  UnrealizedGain | LongUnrealizedLoss          |    Short    Unrealized Gain |   Short UnrealizedLoss                                  | Net   Unrealized Gain/(Loss) | Average number of contracts outstandingfor nine months(absolute quantity) |
|---------------------------------------------|--------------------------------------|-----------------------------|---------------------------------------------------------------------|-------------------------------------------------------------------|--------------------------------------------------|--------------------------------------------------------------------------------|
|                                        | $                                    | $                           | $                                                                   | $                                                                 | $                                                |                                                                           |
| Commodity                                   |  1,455,069                      | (186,725)                   | 53,566                                                              | (249,255)                                                         | 1,072,655                                        | 571                                                                            |
| Equity                                      | 100,802                              | (36,742)                    | 1,942                                                               | (18,003)                                                          | 47,999                                           | 389                                                                            |
| Foreign currency                            | 1,337,457                            | (2,431)                     | 6,243                                                               | (586,632)                                                         | 754,637                                          | 677                                                                            |
| Interest rate                               |   1,766,339                |    (309,034) |           279     |           (352) |    1,457,232                      | 1,875                                                                          |
| Total                                       |   4,659,667                |   (534,932)       |     62,030                                      |    (854,242)                                       |    3,332,523                      |                                                                           |
|                                        |                                 |                        |                                                                |                                                              |                                             |                                                                           |
| Unrealized currency loss                    |                                 |                        |                                                                |                                                              |     (12,299)                 |                                                                           |
| Total net unrealized gain on open contracts |                                 |                        |                                                                |                                                              |    3,320,224                      |                                                                           |

|              |       | Average number of                    |
|-------------------|------------|--------------------------------------|
|              |  Fair | contracts outstandingfor nine months |
|              | Value      | (absolute quantity)                  |
| Option Contracts  | $          |                                 |
| Options purchased | 3,152      | 9                                    |
| Options written   | (6,560)    | 9                                    |

| Futures and Forward Contracts               | Long UnrealizedGain             | Long UnrealizedLoss         |     Short    Unrealized   Gain |   Short UnrealizedLoss | Net   Unrealized Gain/(Loss) | Average number of contracts outstandingfor the year(absolute quantity) |
|---------------------------------------------|---------------------------------|-----------------------------|---------------------------------------------------------------------------------------|----------------------------------|--------------------------------------------------|-----------------------------------------------------------------------------|
|                                        | $                               | $                           |   $                                                                         | $                                | $                                                |                                                                        |
| Commodity                                   | 574,468                         | (129,165)                   | 44,484                                                                                | (155,258)                        | 334,529                                          | 436                                                                         |
| Equity                                      | 479,575                         | (6,670)                     | –                                                                               | (6,447)                          | 466,458                                          | 327                                                                         |
| Foreign currency                            | 50,370                          | (357,577)                   | 3,450                                                                                 | (25,406)                         | (329,163)                                        | 476                                                                         |
| Interest rate                               |     303,800 |    (291,188) |     13,114                                                        |   (12,796)             |      12,930             | 1,613                                                                       |
| Total                                       |   1,408,213           |   (784,600)       |     61,048                                                        |    (199,907)      |    484,754                        |                                                                        |
|                                        |                            |                        |                                                                                  |                             |                                             |                                                                        |
| Unrealized currency loss                    |                            |                        |                                                                                  |                             |     (14,513)                 |                                                                        |
| Total net unrealized gain on open contracts |                            |                        |                                                                                  |                             |      470,241            |                                                                        |

----

|              |      | Average number of                     |
|-------------------|-----------|---------------------------------------|
|              |      | contracts outstanding                 |
|              | FairValue | for the year (absolute quantity) |
| Option Contracts  | $         |                                  |
| Options purchased | 2,053     | 5                                     |
| Options written   | (4,693)   | 5                                     |

|                                | For the Three Months                                          | For the Nine Months                                           |
|-------------------------------------|---------------------------------------------------------------|---------------------------------------------------------------|
|                                | Ended September 30, 2010                                      | Ended September 30, 2010                                      |
| Type of Instrument                  |           $ |           $ |
|                                |                                                          |                                                          |
| Commodity                           | (719,627)                                                     | (1,092,405)                                                   |
| Equity                              | (231,852)                                                     | (2,254,238)                                                   |
| Foreign currency                    | (513,929)                                                     | 2,992,945                                                     |
| Interest rate                       | 4,283,829                                                     | 10,313,422                                                    |
| Unrealized currency gain            | 3,869                                                         | 2,213                                                         |
| Proceeds from Litigation Settlement |        40,150              |         40,150        |
| Total                               |   2,862,440                                         |  10,002,087                                              |

|                                | For the Three Months                                          | For the Nine Months                                           |
|-------------------------------------|---------------------------------------------------------------|---------------------------------------------------------------|
|                                | Ended September 30, 2010                                      | Ended September 30, 2010                                      |
| Trading Results                     |           $ |           $ |
|                                |                                                          |                                                          |
| Realized                            | 592,464                                                       | 7,113,714                                                     |
| Net change in unrealized            | 2,229,826                                                     | 2,848,223                                                     |
| Proceeds from Litigation Settlement |       40,150                    |          40,150  |
| Total Trading Results               |   2,862,440                                         |  10,002,087                                              |

----

|                            | For the Three Months                                          | For the Nine Months                                                  |
|---------------------------------|---------------------------------------------------------------|----------------------------------------------------------------------|
|                            | Ended September 30, 2009                                      | Ended September 30, 2009                                             |
| Type of Instrument              |           $ |           $        |
|                            |                                                          |                                                                 |
| Commodity                       | (347,288)                                                     | (1,355,717)                                                          |
| Equity                          | (1,497,609)                                                   | (2,405,552)                                                          |
| Foreign currency                | 1,335,988                                                     | (1,417,687)                                                          |
| Interest rate                   |     1,704,933                             |     (1,266,029)                                  |
| Unrealized currency gain (loss) |          6,955   |           (90,844) |
| Total                           |    1,202,979                                   |      (6,535,829)                            |

|                     | For the Three Months                                          | For the Nine Months                                           |
|--------------------------|---------------------------------------------------------------|---------------------------------------------------------------|
|                     | Ended September 30, 2009                                      | Ended September 30, 2009                                      |
| Trading Results          |           $ |           $ |
|                     |                                                          |                                                          |
| Realized                 | (1,579,238)                                                   | (7,060,227)                                                   |
| Net change in unrealized |     2,782,217                             |          524,398 |
| Total Trading Results    |     1,202,979                             |     (6,535,829)                           |

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|                                     | UnadjustedQuoted Prices in Active Markets for Identical Assets(Level 1) | Significant Other Observable Inputs(Level 2) | Significant Unobservable Inputs(Level 3) |   |             Total   |
|------------------------------------------|-------------------------------------------------------------------------|----------------------------------------------|------------------------------------------|--------|---------------------------------------------------------------------------------|
|                                     | $                                                                       | $                                            | $                                        |   |              $ |
| Assets                                   |                                                                    |                                         |                                     |   |                                                                            |
| Net unrealized gain on futures contracts | 3,292,360                                                               | –                                      | n/a                                      |   | 3,292,360                                                                       |
| Net unrealized gain on forward contracts | –                                                                 | 27,864                                       | n/a                                      |   | 27,864                                                                          |
| Options purchased                        | 3,152                                                                   | –                                      | n/a                                      |   | 3,152                                                                           |
|                                     |                                                                    |                                         |                                     |   |                                                                            |
| Liabilities                              |                                                                    |                                         |                                     |   |                                                                            |
| Options written                          | (6,560)                                                                 | –                                      | n/a                                      |   | (6,560)                                                                         |

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|                                     | UnadjustedQuoted Prices in Active Markets for Identical Assets(Level 1) | Significant Other Observable Inputs(Level 2) | Significant Unobservable Inputs(Level 3) |   | Total   |
|------------------------------------------|-------------------------------------------------------------------------|----------------------------------------------|------------------------------------------|--------|---------|
|                                     | $                                                                       | $                                            | $                                        |   | $       |
| Assets                                   |                                                                    |                                         |                                     |   |    |
| Net unrealized gain on futures contracts | 470,241                                                                 | –                            | n/a                                      |   | 470,241 |
| Options purchased                        | 2,053                                                                   | –                            | n/a                                      |   | 2,053   |
|                                     |                                                                    |                                         |                                     |   |    |
| Liabilities                              |                                                                    |                                         |                                     |   |    |
| Options written                          | (4,693)                                                                 | –                            | n/a                                      |   | (4,693) |

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|   | Item 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK |
|--------|-------------------------------------------------------------------------------|

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| Primary Market          | September  30, 2010 | September 30, 2009 |
|-------------------------|-------------------------------|--------------------|
| Risk Category           | Value at Risk                 | Value at Risk      |
|                    |                          |               |
| Interest Rate           | (1.18)%                       | (0.83)%            |
|                    |                          |               |
| Equity                  |  (0.90)                  |  (0.94)       |
|                    |                          |          |
| Currency                |  (0.60)                  |  (0.86)       |
|                    |                          |               |
| Commodity               |  (0.97)                  |  (0.41)       |
|                    |                     |               |
| Aggregate Value at Risk | (1.81)%        | (1.54)%            |

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| September 30, 2010           |                            |                      |                            |
|------------------------------|---------------------------------|---------------------------|---------------------------------|
| Primary Market Risk Category | High                            | Low                       | Average                         |
| Interest Rate                | (1.18)%     | (0.36)%                   | (0.75)%     |
| Equity                       | (2.23)                          | (0.14)                    | (1.28)                          |
| Currency                     | (0.73)                          | (0.54)                    | (0.62)                          |
| Commodity                    | (1.19)                          | (0.59)                    | (0.88)                          |
| Aggregate Value at Risk      | (2.95)%          | (1.49)%    | (2.17)%     |

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| September 30, 2009           |                            |                      |                      |
|------------------------------|---------------------------------|---------------------------|---------------------------|
| Primary Market Risk Category | High                            | Low                       | Average                   |
| Interest Rate                | (0.83)%     | (0.38)%                   | (0.53)%                   |
| Equity                       | (0.94)                          | (0.05)                    | (0.40)                    |
| Currency                     | (0.88)                          | (0.19)                    | (0.58)                    |
| Commodity                    | (0.41)                          | (0.20)                    | (0.28)                    |
| Aggregate Value at Risk      |  (1.54)%              |   (0.61)%  | (0.90)%    |

| ·   | past changes in market risk factors will not always result in accurate predictions of the distributions and correlations of future market movements; |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | changes in portfolio value caused by market movements may differ from those of the VaR model; |
|--------------------|-----------------------------------------------------------------------------------------------|

| ·   | VaR results reflect past market fluctuations applied to current trading positions while future risk depends on future positions; |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------|

| ·   | VaR using a one-day time horizon does not fully capture the market risk of positions that cannot be liquidated or hedged within one day; and |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | the historical market risk factor data used for VaR estimation may provide only limited insight into losses that could be incurred under certain unusual market movements. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | Item 4.   CONTROLS AND PROCEDURES |
|--------|--------------------------------------------------|

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|   | Item 1A. | RISK FACTORS |
|--------|----------|--------------|

| Item 6. | EXHIBITS |
|---------|----------|

| 31.01 | Certification of President of Demeter Management LLC, the general partner of the Partnership, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------|

| 31.02 | Certification of Chief Financial Officer of Demeter Management LLC, the general partner of the Partnership, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 32.01 | Certification of President of Demeter Management LLC, the general partner of the Partnership, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 32.02 | Certification of Chief Financial Officer of Demeter Management LLC, the general partner of the Partnership, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|              | Morgan Stanley Smith Barney Charter WNT L.P. |
|-------------------|----------------------------------------------|
|              | (Registrant)                                 |
|              |                                         |   |
|              | By:                                          | Demeter Management LLC |
|              |                                         | (General Partner) |
|              |                                         |   |
| November 10, 2010 | By:                                          |   |
|              |                                         | Christian Angstadt |
|              |                                         | Chief Financial Officer |