UNITED STATES
	SECURITIES AND EXCHANGE COMMISSION
	Washington, D.C. 20549

	FORM 10-Q


[X]	Quarterly report pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
For the quarterly period ended June 30, 2001 or

[ ]	Transition report pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
For the transition period from               to___________________


Commission File No. 0-25603

	MORGAN STANLEY DEAN WITTER CHARTER GRAHAM L.P.

	(Exact name of registrant as specified in its charter)


		Delaware						     13-4018068
(State or other jurisdiction of		   	  (I.R.S. Employer
incorporation or organization)			      Identification No.)


c/o Demeter Management Corporation
Two World Trade Center, 62 Fl., New York, NY	       10048
(Address of principal executive offices)	  	     (Zip Code)


Registrant's telephone number, including area code (212) 392-5454


__________________________________________________________________
(Former name, former address, and former fiscal year, if changed
since last report)


Indicate by check-mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months (or
for such shorter period that the registrant was required to file
such reports), and (2) has been subject to such filing
requirements for the past 90 days.

Yes     X       	No____________





<page>
<table>
	MORGAN STANLEY DEAN WITTER CHARTER GRAHAM L.P.

	INDEX TO QUARTERLY REPORT ON FORM 10-Q

	June 30, 2001

<caption>

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

				<c>
		Statements of Financial Condition as of June 30, 2001
 		(Unaudited) and December 31, 2000......................... 2

		Statements of Operations for the Quarters Ended
June 30, 2001 and 2000 (Unaudited).........................3

		Statements of Operations for the Six Months Ended
		June 30, 2001 and 2000 (Unaudited).........................4

		Statements of Changes in Partners' Capital for the
		Six Months Ended June 30, 2001 and 2000 (Unaudited)........5

		Statements of Cash Flows for the Six Months Ended
		June 30, 2001 and 2000 	(Unaudited).........................6

		Notes to Financial Statements (Unaudited)...............7-11

Item 2.	Management's Discussion and Analysis of
			Financial Condition and Results of Operations.......12-21

Item 3.	Quantitative and Qualitative Disclosures about
			Market Risk ........................................21-34

Part II. OTHER INFORMATION

Item 1.	Legal Proceedings......................................35

Item 2.	Changes in Securities and Use of Proceeds...........35-36

Item 6.	Exhibits and Reports on Form 8-K....................36-37


</table>







<page>
<table>


PART I.  FINANCIAL INFORMATION

Item 1.  Financial Statements

MORGAN STANLEY DEAN WITTER CHARTER GRAHAM L.P.
	STATEMENTS OF FINANCIAL CONDITION
<caption>

	  June 30,	     December 31,
                          2001   	      2000
	$	   $
	(Unaudited)
ASSETS

	<c>	<c>
Equity in futures interests trading accounts:
	Cash	31,934,352 	26,570,361

	Net unrealized gain on open contracts (MS & Co.)	469,512	   3,586,880
	Net unrealized gain (loss) on open contracts (MSIL)	240,991	(160,517)
	Net unrealized loss on open contracts (Carr)	_____-___	    (10,863)

	Total net unrealized gain on open contracts	     710,503	   3,415,500

	     Total Trading Equity	32,644,855	29,985,861

Subscriptions receivable	1,405,553	252,518
Interest receivable (Morgan Stanley DW)	     100,230	      142,031

	     Total Assets	 34,150,638 	    30,380,410


LIABILITIES AND PARTNERS' CAPITAL

Liabilities
	Redemptions payable	789,397	556,261
	Accrued brokerage fees (Morgan Stanley DW)	190,813	    149,461
	Accrued management fees	54,518	      42,703
	Accrued incentive fees	_____-___	     860,827

	     Total Liabilities	  1,034,728	   1,609,252

Partners' Capital

	Limited Partners (2,655,160.755  and
	     2,265,759.190 Units, respectively)	32,756,929	 28,446,182
	General Partner (29,097.737 and
          25,884.600 Units, respectively)	      358,981	     324,976

	     Total Partners' Capital	   33,115,910	 28,771,158
Total Liabilities and Partners' Capital	   34,150,638 	   30,380,410
NET ASSET VALUE PER UNIT		            12.34	           12.55
<fn>
	The accompanying notes are an integral part
	of these financial statements.
 </table>
<page>
<table>
	MORGAN STANLEY DEAN WITTER CHARTER GRAHAM L.P.
	STATEMENTS OF OPERATIONS
(Unaudited)

<caption>



	     For the Quarters Ended June 30,

	      2001   	   2000
	    $	   $
REVENUES

			<c>	<c>
	Trading loss:
Realized                                                    	(629,141)             (1,949,142)
		Net change in unrealized	                                                       (2,499,354)             (1,004,583)

			Total Trading Results                                                          (3,128,495)             (2,953,725)

	Interest income (Morgan Stanley DW)	                                               320,857	                  292,554

Total        	                                                                   (2,807,638)             (2,661,171)


EXPENSES

	Brokerage fees (Morgan Stanley DW)                                               565,094         	     383,498
	Management fees                                                                         161,455            	      109,571

	Total                                                                                       726,549     	            493,069

NET LOSS                                                                                          (3,534,187)	  (3,154,240)


NET LOSS ALLOCATION

	Limited Partners                                                                            (3,495,206)	(3,117,539)
	General Partner                                                                                  (38,981)	(36,701)


NET LOSS PER UNIT

	Limited Partners                                                                                     (1.45)	(1.42)
	General Partner                                                                                      (1.45)	(1.42)




<fn>


	The accompanying notes are an integral part
	of these financial statements.
</table>


<page>
<table>
	MORGAN STANLEY DEAN WITTER CHARTER GRAHAM L.P.
	STATEMENTS OF OPERATIONS
(Unaudited)



<caption>

	                                           For the Six Months Ended June 30,

	      2001     	       2000
	$	    $


REVENUES

			<c>		<c>
	Trading profit (loss):
		Realized 	3,403,723		       (1,661,080)
 	 	Net change in unrealized                                                  (2,704,997)		    (911,542)

			Total Trading Results 	698,726		(2,572,622)

	Interest income (Morgan Stanley DW) 	         729,899 	                    557,154

			Total  	     1,428,625		   (2,015,468)


EXPENSES

	Brokerage fees (Morgan Stanley DW) 	1,076,565		756,920
 	Incentive fees	632,043		        89,338
	Management fees  	      307,590		       216,263

		    Total  	    2,016,198		   1,062,521

NET LOSS 	    (587,573)		   (3,077,989)


NET LOSS ALLOCATION

	Limited Partners                                                                         (580,578)			(3,042,237)
	General Partner                                                                              (6,995)			(35,752)


NET LOSS PER UNIT

	Limited Partners                                                                              (0.21)			(1.38)
	General Partner                                                                               (0.21)			(1.38)




<fn>

	The accompanying notes are an integral part
	of these financial statements.
</table>
<page>
<table>

MORGAN STANLEY DEAN WITTER CHARTER GRAHAM  L.P.
	STATEMENTS OF CHANGES IN PARTNERS' CAPITAL
	For the Six Months Ended June 30, 2001 and 2000
	(Unaudited)



<caption>

	Units of
	Partnership	Limited	General
	   Interest   	Partners	Partner	Total
		$	$	$




	<c>	<c>	<c>	<c>

Partners' Capital,
	December 31, 1999	2,007,335.985  	20,424,608  	236,504  	20,661,112

Offering of Units	563,505.568	5,638,495	30,000	5,668,495

Net Loss                                                                      -		(3,042,237)	(35,752)	(3,077,989)

Redemptions         (292,448.689)        	  (2,940,576)                     -       	  (2,940,576)

Partners' Capital,
	June 30, 2000	 2,278,392.864	  20,080,290	 230,752	20,311,042




Partners' Capital,
	December 31, 2000	2,291,643.790  	28,446,182  	324,976  	28,771,158

Offering of Units	589,816.370	7,352,137	41,000	7,393,137

Net Loss                                                                      -		(580,578)	(6,995)	(587,573)

Redemptions            (197,201.668)        	  (2,460,812)                     -       	  (2,460,812)

Partners' Capital,
	June 30, 2001	 2,684,258.492	  32,756,929	 358,981	 33,115,910




<fn>



The accompanying notes are an integral part
	of these financial statements.
</table>

<page>
<table>
	MORGAN STANLEY DEAN WITTER CHARTER GRAHAM L.P.
	STATEMENTS OF CASH FLOWS
(Unaudited)




<caption>	                                       For the Six Months Ended June 30,

	      2001     	       2000
	$	    $


CASH FLOWS FROM OPERATING ACTIVITIES

			<c>	<c>
	Net loss                                                                                          (587,573)	(3,077,989)
 	Noncash item included in net loss:
	     	Net change in unrealized	2,704,997	911,542

	(Increase) decrease  in operating assets:
		Interest receivable (Morgan Stanley DW)	41,801	(15,295)

	Increase (decrease) in operating liabilities:
		Accrued brokerage fees (Morgan Stanley DW)	41,352	16,892
  		Accrued management fees   	11,815     	         4,827
		Accrued incentive fees                                                           (860,827)  	_____-___


	Net cash provided by (used for) operating activities	  1,351,565	 (2,160,023)



CASH FLOWS FROM FINANCING ACTIVITIES

	Offering of Units	7,393,137	5,668,495
  	(Increase) decrease in subscriptions receivable                        (1,153,035)	     397,369
	Increase in redemptions payable  	233,136                     	149,417
     Redemptions of Units            (2,460,812)               (2,940,576)

	Net cash provided by financing activities	  4,012,426	   3,274,705

	Net increase in cash	5,363,991	1,114,682

	Balance at beginning of period	  26,570,361	   19,067,800

	Balance at end of period	   31,934,352	   20,182,482


<fn>


	The accompanying notes are an integral part
	of these financial statements.
</table>



<page>
MORGAN STANLEY DEAN WITTER CHARTER GRAHAM L.P.
NOTES TO FINANCIAL STATEMENTS
June 30, 2001
(UNAUDITED)
The unaudited financial statements contained herein include, in
the opinion of management, all adjustments necessary for a fair
presentation of the results of operations and financial condition
of Morgan Stanley Dean Witter Charter Graham L.P. (the
"Partnership").  The financial statements and condensed notes
herein should be read in conjunction with the Partnership's
December 31, 2000 Annual Report on Form 10-K.

1. Organization
Morgan Stanley Dean Witter Charter Graham L.P. is a Delaware
limited partnership organized to engage primarily in the
speculative trading of futures contracts, options on futures
contracts, and forward contracts, on physical commodities and
other commodity interests, including foreign currencies, financial
instruments, metals, energy and agricultural products.  The
Partnership is one of the Morgan Stanley Dean Witter Charter
Series of funds, comprised of the Partnership, Morgan Stanley Dean
Witter Charter Millburn L.P., Morgan Stanley Dean Witter Charter
Welton L.P. and Morgan Stanley Dean Witter Charter DWFCM L.P.

The general partner is Demeter Management Corporation ("Demeter").
The non-clearing commodity broker is Morgan Stanley DW Inc.

<page>
  		MORGAN STANLEY DEAN WITTER CHARTER GRAHAM L.P.
NOTES TO FINANCIAL STATEMENTS (CONTINUED)


("Morgan Stanley DW"). Dean Witter Reynolds Inc. changed its name
to Morgan Stanley DW Inc., effective April 2, 2001.  The clearing
commodity brokers are Morgan Stanley & Co., Inc. ("MS & Co.") and
Morgan Stanley & Co. International Limited ("MSIL").  Prior to
November 2000, Carr Futures Inc. ("Carr") provided clearing and
execution services.  Demeter, Morgan Stanley DW, MS & Co. and MSIL
are wholly-owned subsidiaries of Morgan Stanley Dean Witter & Co.
Graham Capital Management L.P. (the "Trading Advisor") is the
trading advisor to the Partnership.

2.  Related Party Transactions
The Partnership's cash is on deposit with Morgan Stanley DW, MS &
Co. and MSIL in futures, forwards and options trading accounts to
meet margin requirements as needed. Morgan Stanley DW pays
interest on these funds based on a rate equal to that earned by
Morgan Stanley DW on its U.S. Treasury bill investments. The
Partnership pays brokerage fees to Morgan Stanley DW.

3.  Financial Instruments
The Partnership trades futures contracts, options on futures
contracts, and forward contracts, on physical commodities and
other commodity interests, including foreign currencies, financial


<page>
MORGAN STANLEY DEAN WITTER CHARTER GRAHAM L.P.
NOTES TO FINANCIAL STATEMENTS (CONTINUED)

instruments, metals, energy and agricultural products.  Futures
and forwards represent contracts for delayed delivery of an
instrument at a specified date and price.  Risk arises from
changes in the value of these contracts and the potential
inability of counterparties to perform under the terms of the
contracts.  There are numerous factors which may significantly
influence the market value of these contracts, including interest
rate volatility.

The Partnership accounts for its derivative investments in
accordance with the provisions of Statement of Financial
Accounting Standard No. 133, "Accounting for Derivative
Instruments and Hedging Activities" ("SFAS No. 133"). SFAS No.
133 defines a derivative as a financial instrument or other
contract that has all three of the following characteristics:

1)	One or more underlying notional amounts or payment
provisions;
2)	Requires no initial net investment or a smaller initial net
investment than would be required relative to changes in
market factors;
3)	Terms require or permit net settlement.


<page>
 MORGAN STANLEY DEAN WITTER CHARTER GRAHAM L.P.
NOTES TO FINANCIAL STATEMENTS (CONTINUED)

Generally derivatives include futures, forward, swaps or option
contracts, or other financial instruments with similar
characteristics such as caps, floors and collars.

The net unrealized gains on open contracts, reported as a
component of "Equity in futures interests trading accounts" on
the statements of financial condition and their longest contract
maturity were as follows:
                    Net Unrealized Gains on Open
                             Contracts                   Longest Maturity

   	            Exchange-  Off-Exchange-             Exchange-  Off-Exchange-
                   Traded      Traded       Total       Traded      Traded
Date              Contracts   Contracts   Contracts    Contracts   Contracts
                       $          $		   $

June 30, 2001        873,958  (163,455)     710,503    Dec. 2002   Sept. 2001

December 31, 2000  3,043,579   371,921    3,415,500    June 2002   March 2001

The Partnership has credit risk associated with counterparty non-
performance.  The credit risk associated with the instruments in
which the Partnership is involved is limited to the amounts
reflected in the Partnership's statements of financial condition.

The Partnership also has credit risk because Morgan Stanley DW, MS
& Co. and MSIL act as the futures commission merchants or the
counterparties with respect to most of the Partnership's assets.
Exchange-traded futures and futures-styled options contracts are
<page>
MORGAN STANLEY DEAN WITTER CHARTER GRAHAM L.P.
NOTES TO FINANCIAL STATEMENTS (CONCLUDED)

marked to market on a daily basis, with variations in value
settled on a daily basis. Each of Morgan Stanley DW, MS & Co. and
MSIL, as a futures commission merchant for the Partnership's
exchange-traded futures and futures-styled options contracts, are
required, pursuant to regulations of the Commodity Futures Trading
Commission ("CFTC"), to segregate from their own assets, and for
the sole benefit of their commodity customers, all funds held by
them with respect to exchange-traded futures and futures-styled
options contracts, including an amount equal to the net unrealized
gain on all open futures and futures-styled options contracts,
which funds, in the aggregate, totaled $32,808,310 and $29,613,940
at June 30, 2001 and December 31, 2000, respectively. With respect
to the Partnership's off-exchange-traded forward currency
contracts, there are no daily settlements of variations in value
nor is there any requirement that an amount equal to the net
unrealized gain on open forward contracts be segregated.  With
respect to those off-exchange-traded forward currency contracts,
the Partnership is at risk to the ability of MS & Co., the sole
counterparty on all of such contracts, to perform. The Partnership
has a netting agreement with MS & Co.  This agreement, which seeks
to reduce both the Partnership's and MS & Co.'s exposure on off-
exchange-traded forward currency contracts, should materially
decrease the Partnership's credit risk in the event of MS & Co.'s
bankruptcy or insolvency.
<page>
Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
        CONDITION AND RESULTS OF OPERATIONS

Liquidity - The Partnership deposits its assets with Morgan
Stanley DW as non-clearing broker and MS & Co. and MSIL as
clearing brokers in separate futures, forwards and options
accounts established for the Trading Advisor, which assets are
used as margin to engage in trading. The assets are held in either
non-interest-bearing bank accounts or in securities and
instruments permitted by the CFTC for investment of customer
segregated or secured funds.  The Partnership's assets held by the
commodity brokers may be used as margin solely for the
Partnership's trading.  Since the Partnership's sole purpose is to
trade in futures, forwards, and options, it is expected that the
Partnership will continue to own such liquid assets for margin
purposes.

The Partnership's investment in futures, forwards, and options
may, from time to time, be illiquid.  Most U.S. futures exchanges
limit fluctuations in prices during a single day by regulations
referred to as "daily price fluctuations limits" or "daily
limits".  Trades may not be executed at prices beyond the daily
limit.  If the price for a particular futures or options contract
has increased or decreased by an amount equal to the daily limit,
positions in that futures or options contract can neither be taken
nor liquidated unless traders are willing to effect trades at or
within the limit.  Futures prices have occasionally moved the

<page>
daily limit for several consecutive days with little or no
trading.  These market conditions could prevent the Partnership
from promptly liquidating its futures or options contracts and
result in restrictions on redemptions.

There is no limitation on daily price moves in trading forward
contracts on foreign currencies.  The markets for some world
currencies have low trading volume and are illiquid, which may
prevent the Partnership from trading in potentially profitable
markets or prevent the Partnership from promptly liquidating
unfavorable positions in such markets, subjecting it to
substantial losses.  Either of these market conditions could
result in restrictions on redemptions.

The Partnership has never had illiquidity affect a material
portion of its assets.

Capital Resources. The Partnership does not have, or expect to
have, any capital assets.  Redemptions, exchanges and sales of
additional units of limited partnership interest ("Unit(s)") in
the future will affect the amount of funds available for
investment in futures, forwards and options in subsequent periods.
It is not possible to estimate the amount and therefore the impact
of future redemptions of Units.


<page>
Results of Operations
General.  The Partnership's results depend on its Trading Advisor
and the ability of the Trading Advisor's trading programs to take
advantage of price movements or other profit opportunities in the
futures, forwards and options markets.  The following presents a
summary of the Partnership's operations for the three and six
month periods ended June 30, 2001 and 2000, and a general
discussion of its trading activities during each period.  It is
important to note, however, that the Trading Advisor trades in
various markets at different times and that prior activity in a
particular market does not mean that such market will be actively
traded by the Trading Advisor or will be profitable in the future.
Consequently, the results of operations of the Partnership are
difficult to discuss other than in the context of its Trading
Advisor's trading activities on behalf of the Partnership as a
whole and how the Partnership has performed in the past.

For the Quarter and Six Months Ended June 30, 2001
For the quarter ended June 30, 2001, the Partnership recorded
total trading losses, net of interest income, of $2,807,638 and
posted a decrease in net asset value per Unit. The most
significant losses of approximately 7.2% were recorded in the
global interest rate futures markets primarily during June from
short positions in U.S. interest rate futures as prices rallied
on the possibility that the release of weak U.S. economic data
would prompt the U.S. Federal Reserve to cut interest rates at
<page>
its Federal Open Market Committee meeting in late June.  Long
positions experienced losses during April as U.S. bond prices
reversed sharply lower following a rally in stock prices as
investors deserted risk-free government securities in an asset
shift to equities.  Additional losses were recorded during these
same months from short positions in German interest rate futures
as prices increased during June on the decline in U.S. equity
prices, and from long positions during April as prices reversed
sharply lower on reports of the European Central Bank's ("ECB")
decision to leave interest rates on hold.  In the currency
markets, losses of approximately 2.2% were recorded primarily
during April from short positions in the Australian and Canadian
dollar as their respective values strengthened versus the U.S.
dollar on fears of a prolonged economic slowdown in the U.S.
Smaller losses were incurred during May from short positions in
the Japanese yen as the value of the yen reversed higher relative
to the U.S. dollar following a surprise interest rate cut by the
U.S. Federal Reserve and on optimism that the Japanese government
would unveil an emergency package to revive that country's ailing
economy.  In global stock index futures markets, losses of
approximately 1.6% were recorded primarily during April from
short DAX Index futures positions as German stock prices reversed
higher following the rise in U.S. equity prices.  These losses
were partially offset by gains of approximately 2.1% recorded in
the agricultural markets during May and June from short positions
in corn and wheat futures as prices declined amid favorable
<page>
weather forecasts in the U.S. Midwest and on reports of declining
demand.  Additional gains of approximately 0.4% were recorded in
the energy markets during May and June from short positions in
natural gas futures as prices declined on continued concerns
regarding rising U.S. natural gas inventories and mild weather
across the United States.   Total expenses for the three months
ended June 30, 2001 were $726,549, resulting in a net loss of
$3,534,187.  The net asset value of a Unit decreased from $13.79
at March 31, 2001 to $12.34 at June 30, 2001.


For the six months ended June 30, 2001, the Partnership recorded
total trading revenues, including interest income, of $1,428,625
and, after expenses, posted a decrease in net asset value per
Unit.  The most significant losses of approximately 1.5% were
recorded in the energy markets primarily during April from short
positions in crude oil futures as prices moved higher on supply
concerns amid refinery production problems.  Additional losses
were incurred during January from long positions in natural gas
futures as prices declined, reversing their previous sharp upward
trend amid bearish inventory data and forecasts for warmer
weather in key consumption areas.  Smaller losses of
approximately 0.3% were recorded in the global stock index
futures markets primarily during April from short DAX Index
futures positions as German stock prices reversed higher
following the rise in U.S. equity prices.  These losses were
<page>
partially offset by gains of approximately 2.4% recorded in the
agricultural markets throughout a majority of the first half of
the year from short positions in corn and wheat futures as prices
declined amid favorable weather conditions in South America and
the United States.  Additional gains of approximately 1.5% were
recorded throughout the first quarter from short cotton futures
positions as prices moved lower on weak export sales and low
demand.  Smaller gains of approximately 0.6% were recorded in the
metals markets throughout the second quarter from trading zinc
and palladium futures.  Total expenses for the six months ended
June 30, 2001 were $2,016,198, resulting in a net loss of
$587,573.  The net asset value of a Unit decreased from $12.55 at
December 31, 2000 to $12.34 at June 30, 2001.

For the Quarter and Six Months Ended June 30, 2000
For the quarter ended June 30, 2000, the Partnership recorded
total trading losses, net of interest income, of $2,661,171 and
posted a decrease in net asset value per Unit.  The most
significant losses of approximately 11.0% were recorded in the
global interest rate futures markets primarily during April and
early May from long positions in U.S. interest rate futures as
prices declined amid fears of additional interest rate hikes by
the U.S. Federal Reserve to snuff out inflationary pressures.
Newly established short positions incurred additional losses
later in May and during June as prices moved higher amid signs
that U.S. economic growth has slowed and the prospects of
<page>
additional interest rate hikes by the Federal Reserve were
fading.  In the agricultural markets, losses of approximately
5.3% were experienced throughout a majority of the quarter from
long positions in corn and soybean futures as prices declined due
to forecasts for heavy rain in the U.S. corn and soy growing
regions.  In the global stock index futures markets, losses of
approximately 3.1% were recorded primarily during April from long
NASDAQ 100, Russell 1000 and S&P 500 Index futures positions as
domestic equity prices declined following the release of an
unexpected jump in the Consumer Price Index on fears of inflation
and concerns that the Federal Reserve may need to raise interest
rates more aggressively.  In the metals markets, losses of
approximately 1.2% were experienced primarily during April and
May from long positions in copper, zinc and nickel as most base
metals prices moved lower amid a technically-based sell-off.  In
the currency markets, losses of approximately 0.8% were incurred
during April from long positions in the Japanese yen as the value
of the yen weakened versus the U.S. dollar amid fears of
additional Bank of Japan intervention. These losses were
partially offset by gains of approximately 6.4% recorded in the
energy markets primarily during May and June from long futures
positions in crude oil and its related products as the previous
upward movement in oil prices re-emerged amid rising concerns
regarding supplies and production levels.  Additional gains were
recorded during May from long positions in natural gas futures as
prices continued their upward trend, as data released by the
<page>
American Gas Association further confirmed fears that inventory
levels remain low.  In the soft commodities markets, profits of
approximately 1.3% were recorded primarily during May and June
from long sugar futures positions as prices moved higher due to
strong demand and declining production from Brazil.  Total
expenses for the three months ended June 30, 2000 were $493,069,
resulting in a net loss of $3,154,240.  The net asset value of a
Unit decreased from $10.33 at March 31, 2000 to $8.91 at June 30,
2000.

For the six months ended June 30, 2000, the Partnership recorded
total trading losses, net of interest income, of $2,015,468 and
posted a decrease in net asset value per Unit.  The most
significant losses of approximately 13.2% were recorded in the
global interest rate futures markets primarily during February
from short positions in short and medium-term U.S. Treasury note
futures as prices rose in late February as the U.S. stock markets
fluctuated and investors shifted assets to short-term Treasury
notes from stocks and 30-year bonds.  During April and early May,
additional losses were recorded from long positions in U.S.
interest rate futures as prices declined amid fears of additional
interest rate hikes by the U.S. Federal Reserve.  Newly
established short positions incurred additional losses later in
May and during June as prices moved higher amid signs that U.S.
economic growth had slowed and the prospects of additional
interest rate hikes by the Federal Reserve were fading.  In the
<page>
agricultural markets, losses of approximately 4.1% were
experienced throughout a majority of the second quarter from long
positions in corn and soybean futures as prices declined due to
forecasts for heavy rain in the U.S. corn and soy growing
regions.  In the global stock index futures markets, losses of
approximately 3.1% were recorded primarily during April from long
NASDAQ 100, Russell 1000 and S&P 500 Index futures positions as
domestic equity prices declined following the release of an
unexpected jump in the Consumer Price Index, fears of inflation
and concerns that the Federal Reserve may need to raise interest
rates more aggressively.  In the metals markets, losses of
approximately 2.6% were experienced primarily from long aluminum
and copper futures positions as prices reversed lower in early
February due primarily to technically-based selling.  During
April and May, additional losses were experienced from long
positions in copper, zinc and nickel as most base metals prices
moved lower amid a technical sell-off.  These losses were
partially offset by gains of approximately 8.1% recorded
primarily during January and March in the energy markets from
long futures positions in crude oil and its related products as
prices increased on concerns about future output levels from the
world's leading producer countries amid dwindling stockpiles and
increasing demand.  Gains were also recorded during May and June
from long futures positions in crude oil as the previous upward
movement in oil prices re-emerged amid rising concerns regarding
supplies and production levels.  Additional gains were recorded
<page>
during May from long positions in natural gas futures as prices
continued their upward trend, as data released by the American
Gas Association further confirmed fears that inventory levels
remain low.  In the currency markets, gains of approximately 2.8%
were produced primarily during January from short positions in
the euro and Swiss franc as the value of these currencies
weakened versus the U.S. dollar skepticism about Europe's
economic outlook and lack of public support for the economy from
European officials.  Gains were also recorded during April from
short positions in the euro as its value weakened versus the U.S.
dollar due to ECB's passive stance towards its currency and
increasing concern that the ECB should be more aggressive in
combating inflation.  Total expenses for the six months ended
June 30, 2000 were $1,062,521, resulting in a net loss of
$3,077,989.  The net asset value of a Unit decreased from $10.29
at December 31, 1999 to $8.91 at June 30, 2000.

Item 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Introduction
The Partnership is a commodity pool engaged primarily in the
speculative trading of futures, forwards and options.  The market-
sensitive instruments held by the Partnership are acquired for
speculative trading purposes only and, as a result, all or
substantially all of the Partnership's assets are at risk of


<page>
trading loss.  Unlike an operating company, the risk of market-
sensitive instruments is central, not incidental, to the
Partnership's main business activities.

The futures, forwards and options traded by the Partnership
involve varying degrees of related market risk.  Market risk is
often dependent upon changes in the level or volatility of
interest rates, exchange rates, and prices of financial
instruments and commodities.  Fluctuations in market risk based
upon these factors result in frequent changes in the fair value
of the Partnership's open positions, and, consequently, in its
earnings and cash flow.

The Partnership's total market risk is influenced by a wide
variety of factors, including the diversification among the
Partnership's open positions, the volatility present within the
markets, and the liquidity of the markets.  At different times,
each of these factors may act to increase or decrease the market
risk associated with the Partnership.

The Partnership's past performance is not necessarily indicative
of its future results. Any attempt to numerically quantify the
Partnership's market risk is limited by the uncertainty of its
speculative trading.  The Partnership's speculative trading may
cause future losses and volatility (i.e. "risk of ruin") that far

<page>
exceed the Partnership's experience to date or any reasonable
expectation based upon historical changes in market value.

Quantifying the Partnership's Trading Value at Risk

The following quantitative disclosures regarding the Partnership's
market risk exposures contain "forward-looking statements" within
the meaning of the safe harbor from civil liability provided for
such statements by the Private Securities Litigation Reform Act of
1995 (set forth in Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934).  All
quantitative disclosures in this section are deemed to be forward-
looking statements for purposes of the safe harbor, except for
statements of historical fact.

The Partnership accounts for open positions using mark-to-market
accounting principles.  Any loss in the market value of the
Partnership's open positions is directly reflected in the
Partnership's earnings, whether realized or unrealized, and its
cash flow.  Profits and losses on open positions of exchange-
traded futures, forwards and options are settled daily through
variation margin.

The Partnership's risk exposure in the market sectors traded by
the Trading Advisor is estimated below in terms of Value at Risk
("VaR"). The VaR model used by the Partnership includes many

<page>
variables that could change the market value of the Partnership's
trading portfolio.  The Partnership estimates VaR using a model
based upon historical simulation with a confidence level of 99%.
Historical simulation involves constructing a distribution of
hypothetical daily changes in the value of a trading portfolio.
The VaR model takes into account linear exposures to price and
interest rate risk.  Market risks that are incorporated in the
VaR model include equity and commodity prices, interest rates,
foreign exchange rates, and correlation among these variables.
The hypothetical changes in portfolio value are based on daily
percentage changes observed in key market indices or other market
factors ("market risk factors") to which the portfolio is
sensitive. The historical observation period of the Partnership's
VaR is approximately four years. The one-day 99% confidence level
of the Partnership's VaR corresponds to the negative change in
portfolio value that, based on observed market risk factors,
would have been exceeded once in 100 trading days.

VaR models, including the Partnership's, are continuously
evolving as trading portfolios become more diverse and modeling
techniques and systems capabilities improve.  Please note that
the VaR model is used to numerically quantify market risk for
historic reporting purposes only and is not utilized by either
Demeter or the Trading Advisor in their daily risk management
activities.

<page>
The Partnership's Value at Risk in Different Market Sectors
The following table indicates the VaR associated with the
Partnership's open positions as a percentage of total net assets
by primary market category at June 30, 2001 and 2000. At June 30,
2001 and 2000, the Partnership's total capitalization was
approximately $33 million and $20 million, respectively.

  	Primary Market          June 30, 2001	        June 30, 2000
     Risk Category	        Value at Risk	    Value at Risk

     Currency  	   (1.56)%			   (1.24)%
Interest Rate            	 (0.54)	  		   (0.96)
Equity			 	 (0.45)	 		   (0.40)
Commodity 			 (1.22) 			   (1.36)
    	Aggregate Value at Risk	 (1.92)%			   (1.93)%

Aggregate Value at Risk represents the aggregate VaR of all the
Partnership's open positions and not the sum of the VaR of the
individual market categories listed above.  Aggregate VaR will be
lower as it takes into account correlation among different
positions and categories.

The table above represents the VaR of the Partnership's open
positions at June 30, 2001 and 2000 only and is not necessarily
representative of either the historic or future risk of an
investment in the Partnership. Because the Partnership's only
business is the speculative trading of futures, forwards and
options, the composition of its trading portfolio can change
<page>
significantly over any given time period or even within a single
trading day. Any changes in open positions could positively or
negatively materially impact market risk as measured by VaR.

The table below supplements the quarter-end VaR by presenting the
Partnership's high, low and average VaR, as a percentage of total
net assets for the four quarterly reporting periods from July 1,
2000 through June 30, 2001.

Primary Market Risk Category		 High	 Low		Average

Currency						(2.18)%	(0.64)%	(1.35)%

Interest Rate					(2.77)	(0.54)	(1.84)

Equity		 				(1.21)	(0.42)	(0.63)

Commodity						(1.59)	(0.90)	(1.22)

Aggregate Value at Risk		  	(3.30)%	(1.92)%	(2.61)%

Limitations on Value at Risk as an Assessment of Market Risk
The face value of the market sector instruments held by the
Partnership is typically many times the applicable margin
requirements.  Margin requirements generally range between 2% and
15% of contract face value. Additionally, the use of leverage
causes the face value of the market sector instruments held by
the Partnership to typically be many times the total
capitalization of the Partnership.  The value of the
Partnership's open positions thus creates a "risk of ruin" not
usually found in other investments.  The relative size of the
positions held may cause the Partnership to incur losses greatly
<page>
in excess of VaR within a short period of time, given the effects
of the leverage employed and market volatility.  The VaR tables
above, as well as the past performance of the Partnership, give
no indication of such "risk of ruin". In addition, VaR risk
measures should be viewed in light of the methodology's
limitations, which include the following:
?	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 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.

The VaR tables above present the results of the Partnership's VaR
for each of the Partnership's market risk exposures and on an
aggregate basis at June 30, 2001 and for the end of the four
quarterly reporting periods from July 1, 2000 through June 30,
2001.  Since VaR is based on historical data, VaR should not be
<page>
viewed as predictive of the Partnership's future financial
performance or its ability to manage or monitor risk.  There can
be no assurance that the Partnership's actual losses on a
particular day will not exceed the VaR amounts indicated above or
that such losses will not occur more than once in 100 trading
days.

Non-Trading Risk
The Partnership has non-trading market risk on its foreign cash
balances not needed for margin.  These balances and any market
risk they may represent are immaterial.

At June 30, 2001, the Partnership's cash balance at Morgan
Stanley DW was approximately 89% of its total net asset value.  A
decline in short-term interest rates will result in a decline in
the Partnership's cash management income. This cash flow risk is
not considered material.

Materiality, as used throughout this section, is based on an
assessment of reasonably possible market movements and any
associated potential losses, taking into account the leverage,
optionality and multiplier features of the Partnership's market-
sensitive instruments, in relation to the Partnership's net
assets.


<page>
Qualitative Disclosures Regarding Primary Trading Risk Exposures
The following qualitative disclosures regarding the Partnership's
market risk exposures - except for (A) those disclosures that are
statements of historical fact and (B) the descriptions of how the
Partnership manages its primary market risk exposures -
constitute forward-looking statements within the meaning of
Section 27A of the Securities Act and Section 21E of the
Securities Exchange Act.  The Partnership's primary market risk
exposures as well as the strategies used and to be used by
Demeter and the Trading Advisor for managing such exposures are
subject to numerous uncertainties, contingencies and risks, any
one of which could cause the actual results of the Partnership's
risk controls to differ materially from the objectives of such
strategies. Government interventions, defaults and expropria-
tions, illiquid markets, the emergence of dominant fundamental
factors, political upheavals, changes in historical price
relationships, an influx of new market participants, increased
regulation and many other factors could result in material losses
as well as in material changes to the risk exposures and the risk
management strategies of the Partnership. Investors must be
prepared to lose all or substantially all of their investment in
the Partnership.




<page>
The following were the primary trading risk exposures of the
Partnership at June 30, 2001, by market sector.  It may be
anticipated however, that these market exposures will vary
materially over time.

Currency.  The primary market exposure of the Partnership at June
30, 2001 was to the currency sector.  The Partnership's currency
exposure is to exchange rate fluctuations, primarily fluctuations
which disrupt the historical pricing relationships between
different currencies and currency pairs.  Interest rate changes
as well as political and general economic conditions influence
these fluctuations.  The Partnership trades in a large number of
currencies, including cross-rates - i.e., positions between two
currencies other than the U.S. dollar.  For the second quarter of
2001, the Partnership's major exposures were to the euro currency
crosses and outright U.S. dollar positions.  Outright positions
consist of the U.S. dollar vs. other currencies.  These other
currencies include major and minor currencies.  Demeter does not
anticipate that the risk profile of the Partnership's currency
sector will change significantly in the future.  The currency
trading VaR figure includes foreign margin amounts converted into
U.S. dollars with an incremental adjustment to reflect the
exchange rate risk inherent to the dollar-based Partnership in
expressing VaR in a functional currency other than dollars.


<page>
Interest Rate.  The second largest market exposure at June 30,
2001 was in the global interest rate complex.  Exposure was
primarily spread across the European, U.S. and Japanese interest
rate sectors.  Interest rate movements directly affect the price
of the sovereign bond futures positions held by the Partnership
and indirectly affect the value of its stock index and currency
positions.  Interest rate movements in one country as well as
relative interest rate movements between countries materially
impact the Partnership's profitability.  The Partnership's
primary interest rate exposure is generally to interest rate
fluctuations in the United States and the other G-7 countries.
The G-7 countries consist of France, U.S., Britain, Germany,
Japan, Italy and Canada.  However, the Partnership also takes
futures positions in the government debt of smaller nations -
e.g. Australia.  Demeter anticipates that G-7 interest rates will
remain the primary interest rate exposure of the Partnership for
the foreseeable future.  The changes in interest rates which have
the most effect on the Partnership are changes in long-term, as
opposed to short-term rates.  Most of the speculative futures
positions held by the Partnership are in medium to long-term
instruments.  Consequently, even a material change in short-term
rates would have little effect on the Partnership, were the
medium to long-term rates to remain steady.

Equity.  The primary equity exposure at June 30, 2001 was to
equity price risk in the G-7 countries.  The stock index futures
<page>
traded by the Partnership are by law limited to futures on
broadly-based indices.  At June 30, 2001, the Partnership's
primary exposures were to the DAX (Germany), IBEX 35 (Spain) and
CAC 40 (France) stock indices.  The Partnership is primarily
exposed to the risk of adverse price trends or static markets in
the U.S., European, and Japanese indices.  Static markets would
not cause major market changes but would make it difficult for
the Partnership to avoid being "whipsawed" into numerous small
losses.

Commodity
Soft Commodities and Agriculturals.  At June 30, 2001, the
Partnership had exposure to the markets that comprise these
sectors.  Most of the exposure was to the wheat, corn and
livestock markets.  Supply and demand inequalities, severe
weather disruption, and market expectations affect price
movements in these markets.

Metals.  The Partnership's primary metals market exposure at
June 30, 2001 was to fluctuations in the price of gold and
palladium.  Although the Trading Advisor will from time to
time trade base metals such as copper, aluminum, zinc and
lead, the principal market exposures of the Partnership have
consistently been to precious metals, such as gold and
palladium.  Market exposure to precious metals was evident,

<page>
as gold prices continued to be volatile during the quarter.
Demeter anticipates that precious metals will remain the
primary metals market exposure of the Partnership.

Energy.  At June 30, 2001, the Partnership's energy exposure
was shared primarily by futures contracts in the crude oil
and natural gas markets.  Price movements in these markets
result from political developments in the Middle East,
weather patterns, and other economic fundamentals.  It is
possible that volatility will remain high.  Significant
profits and losses which have been experienced in the past,
are expected to continue to be experienced in this market.
Natural gas has exhibited volatility in prices resulting
from weather patterns and supply and demand factors and may
continue in this choppy pattern.

Qualitative Disclosures Regarding Non-Trading Risk Exposure
The following was the only non-trading risk exposure of the
Partnership at June 30, 2001:

Foreign Currency Balances.  The Partnership's primary
foreign currency balances at June 30, 2001 were in euros and
Canadian dollars.  The Partnership controls the non-trading
risk of these balances by regularly converting these
balances back into dollars upon liquidation of their
respective positions.
<page>
Qualitative Disclosures Regarding Means of Managing Risk Exposure
The Partnership and the Trading Advisor, separately, attempt to
manage the risk of the Partnership's open positions in
essentially the same manner in all market categories traded.
Demeter attempts to manage market exposure by diversifying the
Partnership's assets among different market sectors and trading
approaches, and monitoring the performance of the Trading Advisor
daily.  In addition, the Trading Advisor establishes diversi-
fication guidelines, often set in terms of the maximum margin to
be committed to positions in any one market sector or market-
sensitive instrument.

Demeter monitors and controls the risk of the Partnership's non-
trading instrument, cash.  Cash is the only Partnership
investment directed by Demeter, rather than the Trading Advisor.










<page>
PART II.  OTHER INFORMATION

Item 1.  LEGAL PROCEEDINGS
In April 2001, the Appellate Division of New York State dismissed
the class action previously disclosed in the Partnership's Form
10-K for the year ended December 31, 2000.  Because plaintiffs did
not exercise their right to appeal any further, this dismissal
constituted a final resolution of the case.

Item 2.  CHANGES IN SECURITIES AND USE OF PROCEEDS
The Partnership registered 3,000,000 Units pursuant to a
Registration Statement on Form S-1, which became effective on
November 6, 1998 (SEC File Number 333-60115).

The Partnership registered an additional 6,000,000 Units pursuant
to a new Registration Statement on Form S-1, which became
effective on March 27, 2000 (SEC File Number 333-91563).

The managing underwriter for the Partnership is Morgan Stanley
DW.

Units are sold at monthly closings at a price equal to 100% of
the net asset value per Unit as of the close of business on the
last day of each month.


<page>
Through June 30, 2001, 3,377,820.241 Units were sold, leaving
5,622,179.759 Units unsold.  The aggregate price of the Units
sold through June 30, 2001 was $34,434,968.

Since no expenses are chargeable against proceeds, 100% of the
proceeds of the offering have been applied to the working capital
of the Partnership for use in accordance with the "Use of
Proceeds" section of the prospectus included as part of the above
referenced Registration Statement.

Item 6.	Exhibits and Reports on Form 8-K

(A) Exhibits

3.01	Form of Amended and Restated Limited Partnership Agreement
of the Partnership, dated as of October 31, 2000, is
incorporated by reference to Exhibit A of the
Partnership's Prospectus, dated October 11, 2000, filed
with the Securities and Exchange Commission pursuant to
Rule 424(b)(3) under the Securities Act of 1933, as
amended, on October 13, 2000.
3.02	Certificate of Limited Partnership, dated July 15, 1998,
is incorporated by reference to Exhibit 3.02 of the
Partnership's Registration Statement on Form S-1 (File No.
333-91563) filed with the Securities and Exchange
Commission on September 22, 2000.
10.02	Management Agreement, dated as of November 6, 1998, among
the Partnership, Demeter Management Corporation, and
Graham Capital Management L.P. is incorporated by
reference to Exhibit 10.02 of the Partnership's
Registration Statement on Form S-1 (File No. 333-91563)
filed with the Securities and Exchange Commission on
September 22, 2000.



<page>
10.03	Subscription and Exchange Agreement and Power of Attorney
to be executed by each purchaser of Units is incorporated
by reference to Exhibit B of the Partnership's Prospectus
dated October 11, 2000, filed with the Securities and
Exchange Commission pursuant to Rule 424(b)(3) under the
Securities Act of 1933, as amended, on October 13, 2000.
10.04	Amended and Restated Escrow Agreement among the
Partnership, Morgan Stanley Dean Witter Charter Millburn
L.P., Morgan Stanley Dean Witter Charter Welton L.P.,
Morgan Stanley Dean Witter Charter DWFCM L.P., Dean Witter
Reynolds, Inc., and The Chase Manhattan Bank is
incorporated by reference to Exhibit 10.04 of the
Partnership's Registration Statement on Form S-1 (File No.
333-91563) filed with the Securities and Exchange
Commission on March 30, 2001.
10.05	Form of Amended and Restated Customer Agreement among the
Partnership and Dean Witter Reynolds Inc., is incorporated
by reference to Exhibit 10.05 of the Partnership's
Registration Statement on Form S-1 (File No. 333-91563)
filed with the Securities and Exchange Commission on
September 22, 2000.
10.06	Form of Customer Agreement among the Partnership, Morgan
  	Stanley & Co., Inc., and Dean Witter Reynolds Inc. is
 	incorporated by reference to Exhibit 10.06 of the
  	Partnership's Registration Statement on Form S-1 (File No.
 	333-91563) filed with the Securities and Exchange
  	Commission on September 22, 2000.
10.07	Form of Customer Agreement among the Partnership, Morgan
Stanley & Co. International Limited, and Morgan Stanley &
Co., Inc. is incorporated by reference to Exhibit 10.07 of
the Partnership's Registration Statement on Form S-1 (File
No. 333-91563) filed with the Securities and Exchange
Commission on September 22, 2000.
10.08	Form of Foreign Exchange and Options Master Agreement
among the Partnership and Morgan Stanley & Co., Inc. is
incorporated by reference to Exhibit 10.08 of the
Partnership's Registration Statement on Form S-1 (File No.
333-91563) filed with the Securities and Exchange
Commission on September 22, 2000.
10.09	Subscription Agreement Update Form is incorporated by
reference to Exhibit C of the Partnership's Prospectus
dated October 11, 2000, filed with the Securities and
Exchange Commission pursuant to Rule 424(b)(3) under the
Securities Act of 1933, as amended, on October 13, 2000.
(B)   Reports on Form 8-K. - None.
<page>







	SIGNATURE



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




                        Morgan Stanley Dean Witter Charter
                         Graham L.P. (Registrant)

                        By:   Demeter Management Corporation
                              (General Partner)

August 14, 2001         By: /s/ Raymond E. Koch
                                Raymond E. Koch
                                Chief Financial Officer






The General Partner which signed the above is the only party
authorized to act for the Registrant.  The Registrant has no
principal executive officer, principal financial officer,
controller, or principal accounting officer and has no Board of
Directors.