|   | 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, 13th 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 June 30, 2010 and December 31, 2009                      | 2                |
|     |                                                                                             |             |
|     | Statements of Operations for the Three and Six Months Ended June 30, 2010 and 2009               | 3                |
|     |                                                                                             |             |
|     | Statements of Changes in Partners’ Capital for the Six Months Ended June 30, 2010 and 2009 | 4                |
|     |                                                                                             |             |
|     | Statements of Cash Flows for the Six Months Ended June 30, 2010 and 2009                         | 5                |
|     |                                                                                             |             |
|     | Condensed Schedules of Investments as of  June 30, 2010 and December 31, 2009          | 6                |
|     |                                                                                             |             |
|     | Notes to Financial Statements                                                                    |   7-23 |
|     |                                                                                             |             |
| Item 2.  | Management’s Discussion and Analysis of Financial Condition and Results of Operations      | 24-33            |
|     |                                                                                             |             |
| Item 3.  | Quantitative and Qualitative Disclosures About Market Risk                                       | 34-45            |
|     |                                                                                             |             |
| Item 4.  | Controls and Procedures                                                                          | 45-46            |
|     |                                                                                             |             |
|     | PART II. OTHER INFORMATION                                                                       |             |
|     |                                                                                             |             |
| Item 1A. | Risk Factors                                                                                     | 47               |
|     |                                                                                             |             |
| Item 6.  | Exhibits                                                                                         | 47               |

----

|                                                                   |     June 30, |   | December 31, |
|------------------------------------------------------------------------|----------------------------------|--------|--------------|
|                                                                   | 2010                             |   | 2009         |
| ASSETS                                                                 | $                                |   | $            |
|                                                                   |                             |   |         |
| Trading Equity:                                                        |                             |   |         |
| Unrestricted cash                                                      | 85,996,215                       |   | 86,689,859   |
| Restricted cash                                                        | 4,309,285                        |   | 6,125,936    |
|                                                                   |                             |   |         |
| Total cash                                                             | 90,305,500                       |   | 92,815,795   |
|                                                                   |                             |   |         |
| Net unrealized gain on open contracts (MS&Co.)                     | 1,991,906                        |   | 180,236      |
| Net unrealized gain (loss) on open contracts (MSIP)                    | (889,871)                        |   | 290,005      |
|                                                                   |                             |   |         |
| Total net unrealized gain on open contracts                            | 1,102,035                        |   | 470,241      |
|                                                                   |                             |   |         |
| Options purchased (premiums paid $4,575 and $4,263, respectively)      | 15,175                           |   | 2,053        |
|                                                                   |                             |   |         |
| Total Trading Equity                                                   | 91,422,710                       |   | 93,288,089   |
|                                                                   |                             |   |         |
| Interest receivable (MSSB)                                             | 5,179                            |   | 1,324        |
|                                                                   |                             |   |         |
| Total Assets                                                           | 91,427,889                       |   | 93,289,413   |
|                                                                   |                             |   |         |
| LIABILITIES AND PARTNERS’ CAPITAL                                |                             |   |         |
|                                                                   |                             |   |         |
| Liabilities                                                            |                             |   |         |
|                                                                   |                             |   |         |
| Redemptions payable                                                    | 618,737                          |   | 558,871      |
| Accrued brokerage fees (MS&Co.)                                    | 449,289                          |   | 479,005      |
| Accrued management fees                                                | 149,763                          |   | 159,668      |
| Options written (premiums received $8,925 and $9,400, respectively)    | 30,425                           |   | 4,693        |
|                                                                   |                             |   |         |
| Total Liabilities                                                      | 1,248,214                        |   | 1,202,237    |
|                                                                   |                             |   |         |
| Partners’ Capital                                                |                             |   |         |
|                                                                   |                             |   |         |
| Limited Partners (7,504,760.643 and 7,969,131.800 Units, respectively) | 89,254,799                       |   | 91,155,811   |
| General Partner (77,765.857 and 81,422.857 Units, respectively)        | 924,876                          |   | 931,365      |
|                                                                   |                             |   |         |
| Total Partners’ Capital                                          | 90,179,675                       |   | 92,087,176   |
|                                                                   |                             |   |         |
| Total Liabilities and Partners’ Capital                          | 91,427,889                       |   | 93,289,413   |
|                                                                   |                             |   |         |
| NET ASSET VALUE PER UNIT                                               | 11.89                            |   | 11.44        |

----

|                                         |                                          |   |                                   |
|----------------------------------------------|-----------------------------------------------|--------|----------------------------------------|
|                                         | For the Three MonthsEnded June  30, |   | For the Six Months Ended June 30, |
|                                         |                                          |   |                                   |   |   |   |   |
|                                         | 2010                                          |   | 2009                                   |   | 2010 |   | 2009 |
|                                         | $                                             |   | $                                      |   | $ |   | $ |
| INVESTMENT INCOME                            |                                          |   |                                   |   |   |   |   |
| Interest income (MSSB)                       | 27,609                                        |   | 26,211                                 |   | 39,591 |   | 79,309 |
|                                         |                                          |   |                                   |   |   |   |   |
| EXPENSES                                     |                                          |   |                                   |   |   |   |   |
| Brokerage fees (MS&Co.)                  | 1,367,761                                     |   | 1,596,941                              |   | 2,721,433 |   | 3,524,009 |
| Management fees                              | 455,921                                       |   | 532,312                                |   | 907,145 |   | 1,174,668 |
| Incentive fee                                | –                                       |   | –                                |   | – |   | 117,189 |
|                                         |                                          |   |                                   |   |   |   |   |
| Total Expenses                               | 1,823,682                                     |   | 2,129,253                              |   | 3,628,578 |   | 4,815,866 |
|                                         |                                          |   |                                   |   |   |   |   |
| NET INVESTMENT LOSS                          | (1,796,073)                                   |   | (2,103,042)                            |   | (3,588,987) |   | (4,736,557) |
|                                         |                                          |   |                                   |   |   |   |   |
| TRADING RESULTS                              |                                          |   |                                   |   |   |   |   |
| Trading profit (loss):                       |                                          |   |                                   |   |   |   |   |
| Realized                                     | 5,346,537                                     |   | (7,134,317)                            |   | 6,521,250 |   | (5,480,989) |
| Net change in unrealized                     | (2,527,290)                                   |   | 352,812                                |   | 618,397 |   | (2,257,819) |
|                                         |                                          |   |                                   |   |   |   |   |
| Total Trading Results                        | 2,819,247                                     |   | (6,781,505)                            |   | 7,139,647 |   | (7,738,808) |
|                                         |                                          |   |                                   |   |   |   |   |
| NET INCOME (LOSS)                            | 1,023,174                                     |   | (8,884,547)                            |   | 3,550,660 |   | (12,475,365) |
|                                         |                                          |   |                                   |   |   |   |   |
| NET INCOME (LOSS) ALLOCATION                 |                                          |   |                                   |   |   |   |   |
|                                         |                                          |   |                                   |   |   |   |   |
| Limited Partners                             | 1,012,617                                     |   | (8,794,920)                            |   | 3,514,693 |   | (12,349,610) |
| General Partner                              | 10,557                                        |   | (89,627)                               |   | 35,967 |   | (125,755) |
|                                         |                                          |   |                                   |   |   |   |   |
|                                         |                                          |   |                                   |   |   |   |   |
| NET INCOME (LOSS) PER UNIT *                 |                                          |   |                                   |   |   |   |   |
|                                         |                                          |   |                                   |   |   |   |   |
| Limited Partners                             | 0.13                                          |   | (1.03)                                 |   | 0.45 |   | (1.36) |
| General Partner                              | 0.13                                          |   | (1.03)                                 |   | 0.45 |   | (1.36) |
|                                         |                                          |   |                                   |   |   |   |   |
|                                         | Units                                         |   | Units                                  |   | Units |   | Units |
| WEIGHTED AVERAGE NUMBER OF UNITS OUTSTANDING |  7,725,829.671                           |   |  8,656,860.380                    |   |  7,860,090.611 |   |  9,180,466.648 |

----

|                     | 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               | –         |   | 3,514,693    |   | 35,967    |   | 3,550,660    |
|                     |            |   |         |   |      |   |         |
| Redemptions              | (468,028.157)   |   | (5,415,705)  |   | (42,456)  |   | (5,458,161)  |
|                     |            |   |         |   |      |   |         |
| Partners’ Capital, |            |   |         |   |      |   |         |
| June 30, 2010            | 7,582,526.500   |   | 89,254,799   |   | 924,876   |   | 90,179,675   |
|                     |            |   |         |   |      |   |         |
|                     |            |   |         |   |      |   |         |
|                     |            |   |         |   |      |   |         |
|                     |            |   |         |   |      |   |         |
| Partners’ Capital, |            |   |         |   |      |   |         |
| December 31, 2008        | 10,331,687.713  |   | 133,141,833  |   | 1,352,349 |   | 134,494,182  |
|                     |            |   |         |   |      |   |         |
| Net Loss                 | –         |   | (12,349,610) |   | (125,755) |   | (12,475,365) |
|                     |            |   |         |   |      |   |         |
| Redemptions              | (1,827,172.891) |   | (22,952,221) |   | (232,973) |   | (23,185,194) |
|                     |            |   |         |   |      |   |         |
| Partners’ Capital, |            |   |         |   |      |   |         |
| June 30, 2009            | 8,504,514.822   |   | 97,840,002   |   | 993,621   |   | 98,833,623   |

----

|                                                 | For the Six Months Ended June 30, |
|------------------------------------------------------|-----------------------------------|
|                                                 |                              |   |   |
|                                                 | 2010                              |   | 2009 |
|                                                 | $                                 |   | $ |
| CASH FLOWS FROM OPERATING ACTIVITIES                 |                              |   |   |
|                                                 |                              |   |   |
| Net income (loss)                                    | 3,550,660                         |   | (12,475,365) |
| Noncash item included in net income (loss):          |                              |   |   |
| Net change in unrealized                             | (618,397)                         |   | 2,257,819 |
|                                                 |                              |   |   |
| (Increase) decrease in operating assets:             |                              |   |   |
| Restricted cash                                      | 1,816,651                         |   | (1,770,123) |
| Net premiums paid for options purchased              | (312)                             |   | — |
| Interest receivable (MSSB)                           | (3,855)                           |   | 11,916 |
|                                                 |                              |   |   |
| Decrease in operating liabilities:                   |                              |   |   |
| Accrued brokerage fees (MS&Co.)                  | (29,716)                          |   | (178,563) |
| Accrued management fees                              | (9,905)                           |   | (59,521) |
| Net premiums received for options written            | (475)                             |   | — |
| Accrued incentive fee                                | —                           |   | (242,980) |
|                                                 |                              |   |   |
| Net cash provided by (used for) operating activities | 4,704,651                         |   | (12,456,817) |
|                                                 |                              |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES                 |                              |   |   |
|                                                 |                              |   |   |
| Cash paid for redemptions of Units                   | (5,398,295)                       |   | (27,478,183) |
|                                                 |                              |   |   |
| Net cash used for financing activities               | (5,398,295)                       |   | (27,478,183) |
|                                                 |                              |   |   |
| Net decrease in unrestricted cash                    | (693,644)                         |   | (39,935,000) |
|                                                 |                              |   |   |
| Unrestricted cash at beginning of period             | 86,689,859                        |   | 134,831,012 |
|                                                 |                              |   |   |
| Unrestricted cash at end of period                   | 85,996,215                        |   | 94,896,012 |

----

| Futures and Forward Contracts                                                                | Long UnrealizedGain/(Loss)                                   | Percentage ofNet Assets                                                                           | Short  UnrealizedGain/(Loss)                                                                                                                     | Percentage ofNet Assets                                                                                                          |      Net Unrealized  Gain/(Loss)                                                                           |
|----------------------------------------------------------------------------------------------|--------------------------------------------------------------|---------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                         | $                                                            | %                                                                                                 | $                                                                                                                                                          | %                                                                                                                                | $                                                                                                                                             |
| June 30, 2010, Partnership Partners’ Capital: $90,179,675                              |                                                         |                                                                                              |                                                                                                                                                       |                                                                                                                             |                                                                                                                                          |
|                                                                                         |                                                         |                                                                                              |                                                                                                                                                       |                                                                                                                             |                                                                                                                                          |
|      Commodity                                                           | (234,234)                                                    | (0.26)                                                                                            |                          (333,641) | (0.37)                                                                                                                           | (567,875)                                                                                                                                     |
|      Equity                                                              | (193,852)                                                    | (0.22)                                                                                            | 194,151                                                                                                                      | 0.22                                                                                                                             | 299                                                                                                                                           |
|      Foreign currency                                                    | 215,035                                                      |               0.24               | (824,698)                                                                                                                         | (0.91)                                                                                                                           |                 (609,663)                                          |
|      Interest rate                                                       |     2,300,435                            |      2.55                                                                |                  (4,992)                                                   |              (0.01)                                                  |              2,295,443                                                            |
|                                                                                         |                                                         |                                                                                              |                                                                                                                                                       |                                                                                                                             |                                                                                                                                          |
| Grand Total:                                                                                 |    2,087,384                                  |      2.31                                                                |       (969,180)                                                                                     | (1.07)                                                                                                                           |                  1,118,204                                    |
|                                                                                         |                                                         |                                                                                              |                                                                                                                                                       |                                                                                                                             |                                                                                                                                          |
| Unrealized Currency Loss                                                                     |                                                         |                                                                                              |                                                                                                                                                       | (0.02)                                                                                                                           |                        (16,169) |
|                                                                                         |                                                         |                                                                                              |                                                                                                                                                       |                                                                                                                             |                                                                                                                                          |
|      Total Net Unrealized Gain on Open Contracts                         |                                                         |                                                                                              |                                                                                                                                                       |                                                                                                                             |                 1,102,035                                          |
|                                                                                         |                                                         |                                                                                              |                                                                                                                                                       |                                                                                                                             |                                                                                                                                          |
| Option Contracts                                                                             | Fair Value                                                   | % ofNet Assets                                                                                    |                                                                                                                                                       |                                                                                                                             |                                                                                                                                          |
|                                                                                         | $                                                            | %                                                                                                 |                                                                                                                                                       |                                                                                                                             |                                                                                                                                          |
| Options purchased on Futures Contracts                                                       | 15,175                                                       | 0.02                                                                                              |                                                                                                                                                       |                                                                                                                             |                                                                                                                                          |
| Options purchased on Forward Contracts                                                       | –                                                      | –                                                                                           |                                                                                                                                                       |                                                                                                                             |                                                                                                                                          |
| Options written on Futures Contracts                                                         | (30,425)                                                     | (0.03)                                                                                            |                                                                                                                                                       |                                                                                                                             |                                                                                                                                          |
| 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 |
|          | $                                      | $                   | $ |   |   |
| Jun. 30, 2010 | 1,101,599                              | 436                 | 1,102,035 | Sep. 2012 | Aug. 2010 |
| Dec. 31, 2009 |   470,241                    | -                   | 470,241 | Dec. 2011 | - |

----

----

----

----

| Futures and Forward Contracts               | Long UnrealizedGain                                                                                                                                                                                | Long UnrealizedLoss                         |  ShortUnrealizedGain                                                                                                                                                                                |   Short UnrealizedLoss                                                                               | Net   Unrealized Gain/(Loss) | Average number of contracts outstandingfor six months(absolute quantity) |
|---------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------|--------------------------------------------------|-------------------------------------------------------------------------------|
|                                        | $                                                                                                                                                                                                  | $                                           | $                                                                                                                                                                                                        | $                                                                                                              | $                                                |                                                                          |
| Commodity                                   | 351,397                                                                                                                                                                                            | (585,631)                                   | 142,834                                                                                                                                                                                                  | (476,475)                                                                                                      | (567,875)                                        | 603                                                                           |
| Equity                                      |                          –        | (193,852)                                   |                  194,151                                                                                                 |                   – | 299                                              | 496                                                                           |
| Foreign currency                            | 257,965                                                                                                                                                                                            | (42,930)                                    |                           –        | (824,698)                                                                                                      | (609,663)                                        | 726                                                                           |
| Interest rate                               |    2,304,300                                                                                                                                                                        |       (3,865) |                           –        |        (4,992)                                                              |    2,295,443                      | 1,753                                                                         |
| Total                                       |   2,913,662                                                                                                                                                                              |   (826,278)                       |   336,985                                                                                                                                                                                      |  (1,306,165)                                                                                              |  1,118,204                                  |                                                                          |
|                                        |                                                                                                                                                                                               |                                        |                                                                                                                                                                                                     |                                                                                                           |                                             |                                                                          |
| Unrealized currency loss                    |                                                                                                                                                                                               |                                        |                                                                                                                                                                                                     |                                                                                                           |     (16,169)                 |                                                                          |
| Total net unrealized gain on open contracts |                                                                                                                                                                                               |                                        |                                                                                                                                                                                                     |                                                                                                           |    1,102,035                      |                                                                          |

|              |                                                                                                                                          | Average number of                   |
|-------------------|-----------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------|
|              |  Fair                                                                                                                                    | contracts outstandingfor six months |
|              | Value                                                                                                                                         | (absolute quantity)                 |
| Option Contracts  | $                                                                                                                                             |                                |
| Options purchased |   15,175                                                                                                                            | 9                                   |
| Options written   |                        (30,425) | 9                                   |

| Futures and Forward Contracts               | Long UnrealizedGain             | Long UnrealizedLoss         |  ShortUnrealizedGain                                                                                                  |   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                                     |

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|                     |                                       For the Three Months                                                                              |                 For the Six Months                                            |
|--------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------|
|                     |                                         Ended June 30, 2010                                                                   |                   Ended June 30, 2010                               |
| Type of Instrument       |                                                       $ |                           $ |
|                     |                                                                                                                                                                                                                                                                                                                             |                                                                                                                                                     |
| Commodity                | (1,337,836)                                                                                                                                                                                                                                                                                                                      | (372,778)                                                                                                                                                |
| Equity                   | (2,660,929)                                                                                                                                                                                                                                                                                                                      | (2,022,386)                                                                                                                                              |
| Foreign currency         | 2,128,503                                                                                                                                                                                                                                                                                                                        | 3,506,875                                                                                                                                                |
| Interest rate            | 4,691,381                                                                                                                                                                                                                                                                                                                        | 6,029,593                                                                                                                                                |
| Unrealized currency loss |       (1,872)                                                                                                                                                                                                                                                                                      |       (1,657)                                                                                                              |
| Total                    |   2,819,247                                                                                                                                                                                                                                                                                                            |    7,139,647                                                                                                                              |

|                     |                                           For the Three Months                                                                                          |                   For the Six Months              |
|--------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------|
|                     |                                             Ended June 30, 2010                                                                               |                     Ended June 30, 2010 |
| Trading Results          |                                                             $ |           $                                                                          |
|                     |                                                                                                                                                                                                                                                                                                                                                                 |                                                                                                                                   |
| Realized                 | 5,346,537                                                                                                                                                                                                                                                                                                                                                            | 6,521,250                                                                                                                              |
| Net change in unrealized |    (2,527,290)                                                                                                                                                                                                                                                                                                                                        |        618,397                                                                                      |
| Total Trading Results    |      2,819,247                                                                                                                                                                                                                                                                                                                              |     7,139,647                                                                                                      |

|                     |                                          For the Three Months                                                                                          |               For the Six Months              |
|--------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------|
|                     |                                             Ended June 30, 2009                                                                         |                 Ended June 30, 2009 |
| Type of Instrument       |                                                            $ |           $                                                  |
|                     |                                                                                                                                                                                                                                                                                                                                                           |                                                                                                           |
| Commodity                | (1,537,239)                                                                                                                                                                                                                                                                                                                                                    | (1,008,429)                                                                                                    |
| Equity                   | (1,492,118)                                                                                                                                                                                                                                                                                                                                                    | (907,943)                                                                                                      |
| Foreign currency         | (1,319,606)                                                                                                                                                                                                                                                                                                                                                    | (2,753,675)                                                                                                    |
| Interest rate            | (2,396,400)                                                                                                                                                                                                                                                                                                                                                    | (2,970,962)                                                                                                    |
| Unrealized currency loss |         (36,142)                                                                                                                                                                                                                                                                                                       |         (97,799)                                                       |
| Total                    |     (6,781,505)                                                                                                                                                                                                                                                                                                                            |     (7,738,808)                                                                            |

----

|                     |                                        For the Three Months                                    |                      For the Six Months                                                                          |
|--------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                     |                                          Ended June 30, 2009                         |                         Ended June 30, 2009                                                       |
| Trading Results          |                                                 $ |                                     $ |
|                     |                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                 |
| Realized                 |      (7,134,317)                                                                                                                                                                                                                                                    |      (5,480,989)                                                                                                                                                                            |
| Net change in unrealized |          352,812                                                                                                                                                                                                                                |     (2,257,819)                                                                                                                                                                                  |
| Total Trading Results    |     (6,781,505)                                                                                                                                                                                                                                                          |      (7,738,808)                                                                                                                                                                            |

----

|                                     | 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 | 1,101,599                                             | –                | n/a         |   | 1,101,599                                                                       |
| Net unrealized gain on forward contracts | –                 | 436                         | n/a         |   | 436                                                                             |
| Options purchased                        | 15,175                                           | –                | n/a         |   | 15,175                                                                          |
|                                     |                                                                                                    |                                                                                              |                                                |   |                                                                            |
| Liabilities                              |                                                                                                    |                                                                                              |                                                |   |                                                                            |
| Options written                          | (30,425)                                                   | –                     | n/a              |   | (30,425)                                                                        |

|                                     | 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          | June  30, 2010 | June 30, 2009 |
|-------------------------|--------------------------|---------------|
| Risk Category           | Value at Risk            | Value at Risk |
|                    |                     |          |
| Interest Rate           | (1.03)%                  | (0.38)%       |
|                    |                     |          |
| Currency                | (0.64)                   | (0.88)        |
|                    |                     |          |
| Equity                  | (0.14)                   | (0.49)        |
|                    |                     |          |
| Commodity               | (0.59)                   | (0.20)        |
|                    |                     |          |
| Aggregate Value at Risk | (1.49)%                  | (0.65)%       |

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| June 30, 2010                |                            |                            |                            |
|------------------------------|---------------------------------|---------------------------------|---------------------------------|
| Primary Market Risk Category | High                            | Low                             | Average                         |
| Interest Rate                | (1.03)%          | (0.36)%                         | (0.67)%     |
| Currency                     | (0.86)                          | (0.54)                          | (0.69)                          |
| Equity                       | (2.23)                          | (0.14)                          | (1.29)                          |
| Commodity                    | (1.19)                          | (0.41)                          | (0.74)                          |
| Aggregate Value at Risk      | (2.95)%     | (1.49)%     | (2.10)%     |

| June 30, 2009                |                      |                |    |
|------------------------------|---------------------------|---------------------|---------|
| Primary Market Risk Category | High                      | Low                 | Average |
| Interest Rate                | (0.52)%              | (0.20)%             | (0.37)% |
| Currency                     | (0.88)                    | (0.19)              | (0.45)  |
| Equity                       | (0.49)                    | (0.05)              | (0.28)  |
| Commodity                    | (0.79)                    | (0.20)              | (0.38)  |
| Aggregate Value at Risk      | (0.93)%    | (0.61)%   | (0.75)% |

| ·   | 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) |
|            |                                         |   |
| August 12, 2010 | By:                                          | /s/Christian Angstadt |
|            |                                         | Christian Angstadt |
|            |                                         | Chief Financial Officer |