##### Table of Contents



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 WASHINGTON, D.C. 20549
 FORM 10-Q
  þ
    
    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the quarterly period ended March 31, 2010
 OR
 o
    
    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the transition period from  to
 Commission File number: 000-51634
 SUPERFUND GREEN, L.P.
 
 Delaware
    
    98-0375395(State or other jurisdiction 
of incorporation or organization)
    
    (I.R.S. Employer Identification No.)
 Superfund Office BuildingP.O. Box 1479Grand AnseSt. Georges, GrenadaWest Indies
    
    Not applicable(Address of principal executive offices)
    
    (Zip Code)
 (473) 439-2418
 Not applicable
  þ o
  o o
  Large Accelerated Filer o
Accelerated Filer o
Non-Accelerated Filer o(Do not check if a smaller reporting company)
Smaller Reporting Company þ  o þ




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##### 



PART I  FINANCIAL INFORMATION
 ITEM 1.
    
    FINANCIAL STATEMENTS
  PageUnaudited Financial StatementsStatements of Assets and Liabilities as of March 31, 2010
and December 31, 2009
    
    
    3Condensed Schedule of Investments as of March 31, 2010
    
    
    4Condensed Schedule of Investments as of December 31, 2009
    
    
    5Statements of Operations for the Three Months Ended March 31, 2010 and
March 31, 2009
    
    
    6Statements of Changes in Net Assets for the Three Months Ended March 31, 2010
and March 31, 2009
    
    
    7Statements of Cash Flows for the Three Months Ended March 31, 2010 and
March 31, 2009
    
    
    8EX-31.1EX-31.2EX-32.1EX-32.2
   PageUnaudited Financial StatementsStatements of Assets and Liabilities as of March 31, 2010
and December 31, 2009
    
    
    9Condensed Schedule of Investments as of March 31, 2010
    
    
    10Condensed Schedule of Investments as of December 31, 2009
    
    
    11Statements of Operations for the Three Months Ended March 31, 2010 and
March 31, 2009
    
    
    12Statements of Changes in Net Assets for the Three Months Ended March
31, 2010 and March 31, 2009
    
    
    13Statements of Cash Flows for the Three Months Ended March 31, 2010 and
March 31, 2009
    
    
    14Notes to Series A and Series B Unaudited Financial Statements Dated March 31, 2010
    
    
    15-27
 2




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##### Table of Contents



SUPERFUND GREEN, L.P.  SERIES A
UNAUDITED STATEMENTS OF ASSETS AND LIABILITIES
as of March 31, 2010, and December 31, 2009
 March 31, 2010
    
    
    December 31, 2009ASSETSU.S. Government securities, at fair value

(amortized cost of $14,167,868 and $16,019,268 as of
March 31, 2010, and December 31, 2009, respectively)
    
    $
    14,167,868
    
    
    $
    16,019,268Due from brokers
    
    
    17,904,738
    
    
    
    17,161,443Unrealized appreciation on open forward contracts
    
    
    180,950
    
    
    
    187,448Futures contracts purchased
    
    
    3,280,054
    
    
    
    465,462Futures contracts sold
    
    
    1,568,778
    
    
    
    Cash
    
    
    446,878
    
    
    
    611,470Total assets
    
    
    37,549,266
    
    
    
    34,445,091LIABILITIESUnrealized depreciation on open forward contracts
    
    
    174,506
    
    
    
    421,267Futures contracts sold
    
    
    
    
    
    
    10,673Redemptions payable
    
    
    1,076,261
    
    
    
    550,221Fees payable
    
    
    176,504
    
    
    
    150,435Total liabilities
    
    
    1,427,271
    
    
    
    1,132,596NET ASSETS
    
    $
    36,121,995
    
    
    $
    33,312,495Number of Units
    
    
    25,346.132
    
    
    
    24,594.117Net asset value per Unit
    
    $
    1,425.15
    
    
    $
    1,354.49
  3




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##### Table of Contents



SUPERFUND GREEN, L.P.  SERIES A  UNAUDITED CONDENSED SCHEDULE OF INVESTMENTS  as of March 31, 2010
 Percentage ofFace Value
    
    
    Net Assets
    
    
    Fair ValueDebt Securities United States, at fair valueUnited
States Treasury Bills due May 27, 2010
(amortized cost $14,167,868), securities are
held in margin accounts as collateral for open
futures and forwards
    
    $
    14,170,000
    
    
    
    39.2
    %
    
    $
    14,167,868Forward contracts, at fair valueUnrealized appreciation on forward contracts
Currency
    
    
    
    
    
    
    0.5
    
    
    
    180,950Total unrealized appreciation on
forward contracts
    
    
    
    
    
    
    0.5
    
    
    
    180,950Unrealized depreciation on forward contracts
Currency
    
    
    
    
    
    
    (0.5
    )
    
    
    (174,506
    )Total unrealized depreciation on
forward contracts
    
    
    
    
    
    
    (0.5
    )
    
    
    (174,506
    )Total forward contracts, at fair value
    
    
    
    
    
    
    0.0
    *
    
    
    6,444Futures contracts, at fair valueFutures Contracts PurchasedCurrency
    
    
    
    
    
    
    1.0
    
    
    
    346,761Energy
    
    
    
    
    
    
    2.2
    
    
    
    820,407Financial
    
    
    
    
    
    
    2.8
    
    
    
    996,063Food & Fiber
    
    
    
    
    
    
    (0.0)
    *
    
    
    (12,966
    )Indices
    
    
    
    
    
    
    1.4
    
    
    
    497,544Metals
    
    
    
    
    
    
    1.7
    
    
    
    632,245Total futures contracts purchased
    
    
    
    
    
    
    9.1
    
    
    
    3,280,054Futures Contracts SoldEnergy
    
    
    
    
    
    
    2.9
    
    
    
    1,040,430Financial
    
    
    
    
    
    
    0.4
    
    
    
    173,885Food & Fiber
    
    
    
    
    
    
    1.0
    
    
    
    354,387Metals
    
    
    
    
    
    
    0.0
    *
    
    
    76Total futures contracts sold
    
    
    
    
    
    
    4.3
    
    
    
    1,568,778Total futures contracts, at fair value
    
    
    
    
    
    
    13.4
    %
    
    $
    4,848,832Futures and forward contracts by country compositionAustralia
    
    
    
    
    
    
    0.7
    %
    
    $
    258,629Canada
    
    
    
    
    
    
    0.2
    
    
    
    70,447European Monetary Union
    
    
    
    
    
    
    2.0
    
    
    
    728,271Great Britain
    
    
    
    
    
    
    1.2
    
    
    
    433,582Japan
    
    
    
    
    
    
    0.7
    
    
    
    253,080United States
    
    
    
    
    
    
    7.9
    
    
    
    2,841,347Other
    
    
    
    
    
    
    0.7
    
    
    
    269,920Total futures and forward contracts by country
composition
    
    
    
    
    
    
    13.4
    %
    
    $
    4,855,276
 
 *
    
    Due to rounding  4




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SUPERFUND GREEN, L.P.  SERIES A  UNAUDITED CONDENSED SCHEDULE OF INVESTMENTS  December 31, 2009
 Percentage ofFace Value
    
    
    Net Assets
    
    
    Fair ValueDebt Securities United States, at fair valueUnited
States Treasury Bills due February 25, 2010
(amortized cost $16,019,268), securities are held in
margin accounts as collateral for open futures and
forwards
    
    $
    16,020,000
    
    
    
    48.1
    %
    
    $
    16,019,268Forward contracts, at fair valueUnrealized appreciation on forward contracts
Currency
    
    
    
    
    
    
    0.6
    
    
    
    187,448Total unrealized appreciation on forward contracts
    
    
    
    
    
    
    0.6
    
    
    
    187,448Unrealized depreciation on forward contracts
Currency
    
    
    
    
    
    
    (1.3
    )
    
    
    (421,267
    )Total unrealized depreciation on forward contracts
    
    
    
    
    
    
    (1.3
    )
    
    
    (421,267
    )Total forward contracts, at fair value
    
    
    
    
    
    
    (0.7
    )
    
    
    (233,819
    )Futures contracts, at fair valueFutures Contracts PurchasedCurrency
    
    
    
    
    
    
    (0.5
    )
    
    
    (176,595
    )Energy
    
    
    
    
    
    
    0.4
    
    
    
    132,156Financial
    
    
    
    
    
    
    (0.4
    )
    
    
    (149,774
    )Food & Fiber
    
    
    
    
    
    
    1.0
    
    
    
    337,999Indices
    
    
    
    
    
    
    1.8
    
    
    
    605,471Metals
    
    
    
    
    
    
    (0.9
    )
    
    
    (283,795
    )Total futures contracts purchased
    
    
    
    
    
    
    1.4
    
    
    
    465,462Futures Contracts SoldEnergy
    
    
    
    
    
    
    (0.0)
    *
    
    
    (12,010
    )Financial
    
    
    
    
    
    
    0.2
    
    
    
    72,347Food & Fiber
    
    
    
    
    
    
    (0.1
    )
    
    
    (43,025
    )Indices
    
    
    
    
    
    
    (0.0)
    *
    
    
    (7,925
    )Livestock
    
    
    
    
    
    
    (0.1
    )
    
    
    (20,060
    )Total futures contracts sold
    
    
    
    
    
    
    (0.0)
    *
    
    
    (10,673
    )Total futures contracts, at fair value
    
    
    
    
    
    
    1.4
    
    
    
    454,789Futures and forward contracts by country compositionEuropean Monetary Union
    
    
    
    
    
    
    (0.1
    )
    
    
    (51,393
    )Great Britain
    
    
    
    
    
    
    0.2
    
    
    
    61,549Japan
    
    
    
    
    
    
    0.3
    
    
    
    108,985United States
    
    
    
    
    
    
    0.1
    
    
    
    30,577Other
    
    
    
    
    
    
    0.2
    
    
    
    71,252Total futures and forward contracts by country composition
    
    
    
    
    
    
    0.7
    %
    
    $
    220,970
 
 *
    
    Due to rounding  5




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SUPERFUND GREEN, L.P.  SERIES A  UNAUDITED STATEMENTS OF OPERATIONS
 Three Months EndedMarch 31,2010
    
    
    2009Investment incomeInterest income
    
    $
    1,538
    
    
    $
    14,081Total income
    
    
    1,538
    
    
    
    14,081ExpensesManagement fee
    
    
    155,707
    
    
    
    168,739Ongoing offering expenses
    
    
    84,166
    
    
    
    91,210Operating expenses
    
    
    12,625
    
    
    
    13,682Selling commission
    
    
    336,663
    
    
    
    364,842Brokerage commissions
    
    
    205,942
    
    
    
    43,462Other
    
    
    2,711
    
    
    
    4,018Total expenses
    
    
    797,814
    
    
    
    685,953Net investment loss
    
    
    (796,276
    )
    
    
    (671,872
    )Realized and unrealized gain(loss) on investmentsNet realized gain (loss) on futures and
forward contracts
    
    
    (1,903,701
    )
    
    
    817,896Net change in unrealized appreciation
(depreciation) on futures and forward
contracts:
    
    
    4,634,306
    
    
    
    (861,527
    )Net gain (loss) on investments
    
    
    2,730,605
    
    
    
    (43,631
    )Net increase (decrease) in
net assets from operations
    
    $
    1,934,329
    
    
    $
    (715,503
    )Net increase (decrease) in net assets from
operations per Unit (based upon weighted
average number of units outstanding during
period)*
    
    $
    75.16
    
    
    $
    (37.94
    )Net increase (decrease) in net assets from
operations per Unit (based upon change in
net asset value per unit during period)
    
    $
    70.66
    
    
    $
    (37.68
    )
 
 *
    
    Weighted average number of Units outstanding for
Series A for Three Months Ended March 31, 2010, and March
31, 2009: 25,737.22 and 18,858.29, respectively.  6




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SUPERFUND GREEN, L.P.  SERIES A  UNAUDITED STATEMENTS OF CHANGES IN NET ASSETS
 Three Months EndedMarch 31,2010
    
    
    2009Increase (decrease) in net assets from operationsNet investment loss
    
    $
    (796,276
    )
    
    $
    (671,872
    )Net realized gain (loss) on futures and forward contracts
    
    
    (1,903,701
    )
    
    
    817,896Net change in unrealized appreciation (depreciation) on
futures and forward contracts
    
    
    4,634,306
    
    
    
    (861,527
    )Net increase (decrease) in net assets from operations
    
    
    1,934,329
    
    
    
    (715,503
    )Capital share transactionsIssuance of Units
    
    
    2,798,144
    
    
    
    4,744,856Redemption of Units
    
    
    (1,922,973
    )
    
    
    (4,826,481
    )Net increase (decrease) in net assets from capital share
transactions
    
    
    875,171
    
    
    
    (81,625
    )Net increase (decrease) in net assets
    
    
    2,809,500
    
    
    
    (797,128
    )Net assets,beginning of period
    
    
    33,312,495
    
    
    
    34,972,334Net assets,end of period
    
    $
    36,121,955
    
    
    $
    34,175,206Units,beginning of period
    
    
    24,594.117
    
    
    
    18,098.830Issuance of Units
    
    
    2,194.177
    
    
    
    2,449.823Redemption of Units
    
    
    (1,442.162
    )
    
    
    (2,510.633
    )Units,end of period
    
    
    25,346.132
    
    
    
    18,038.020
  7




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SUPERFUND GREEN, L.P.  SERIES A
UNAUDITED STATEMENTS OF CASH FLOWS
 Three Months EndedMarch 31,2010
    
    
    2009Cash flows from operating activitiesNet increase (decrease) in net assets from operations
    
    $
    1,934,329
    
    
    $
    (715,503
    )Adjustments to reconcile net increase (decrease) in net assets from
operations to net cash provided by (used in) operating activities:Changes in operating assets and liabilities:Purchases of U.S. government securities
    
    
    (14,166,555
    )
    
    
    (34,928,678
    )Sales and maturities of U.S. government securities
    
    
    16,020,000
    
    
    
    46,949,379Amortization of discounts and premiums
    
    
    (2,045
    )
    
    
    12,130Due from brokers
    
    
    (743,295
    )
    
    
    (11,980,196
    )Due to affiliate
    
    
    
    
    
    
    (300,000
    )Unrealized appreciation on open forward contracts
    
    
    6,498
    
    
    
    (66,032
    )Futures contracts purchased
    
    
    (2,814,592
    )
    
    
    395,067Unrealized depreciation on open forward contracts
    
    
    (246,761
    )
    
    
    200,850Futures contracts sold
    
    
    (1,579,451
    )
    
    
    331,642Fees payable
    
    
    26,069
    
    
    
    (23,673
    )Net cash used in operating activities
    
    
    (1,565,803
    )
    
    
    (125,014
    )Cash flows from financing activitiesSubscriptions, net of change in advance subscriptions
    
    
    2,798,144
    
    
    
    7,235,358Redemptions, net of redemptions payable
    
    
    (1,396,933
    )
    
    
    (4,750,132
    )Net cash provided by financing activities
    
    
    1,401,211
    
    
    
    2,485,226Net increase (decrease) in cash
    
    
    (164,592
    )
    
    
    2,360,212Cash, beginning of period
    
    
    611,470
    
    
    
    810,576Cash, end of period
    
    $
    446,878
    
    
    $
    3,170,788
  8




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SUPERFUND GREEN, L.P.  SERIES B
UNAUDITED STATEMENTS OF ASSETS AND LIABILITIES
as of March 31, 2010, and December 31, 2009
 March 31, 2010
    
    
    December 31, 2009ASSETSU.S. Government securities, at fair value
(amortized cost of $20,331,943 and $26,383,789 as of
March 31, 2010, and December 31, 2009, respectively)
    
    $
    20,331,943
    
    
    $
    26,383,789Due from brokers
    
    
    24,651,474
    
    
    
    26,076,666Unrealized appreciation on open forward contracts
    
    
    424,908
    
    
    
    509,064Futures contracts purchased
    
    
    7,086,972
    
    
    
    1,108,299Futures contracts sold
    
    
    3,380,728
    
    
    
    Cash
    
    
    381,829
    
    
    
    30,588Total assets
    
    
    56,257,854
    
    
    
    54,108,406LIABILITIESUnrealized depreciation on open forward contracts
    
    
    390,973
    
    
    
    1,130,981Futures contracts sold
    
    
    
    
    
    
    24,959Redemptions payable
    
    
    1,585,736
    
    
    
    887,287Fees payable
    
    
    274,832
    
    
    
    241,831Total liabilities
    
    
    2,251,541
    
    
    
    2,285,058NET ASSETS
    
    $
    54,006,313
    
    
    $
    51,823,348Number of Units
    
    
    34,455.224
    
    
    
    35,626.349Net asset value per Unit
    
    $
    1,567.43
    
    
    $
    1,454.64
  9




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##### Table of Contents



SUPERFUND GREEN, L.P.  SERIES B
UNAUDITED CONDENSED SCHEDULE OF INVESTMENTS
as of March 31, 2010
 Percentage ofFace Value
    
    
    Net Assets
    
    
    Fair ValueDebt Securities United States, at fair valueUnited
States Treasury Bills due May 27, 2010
(amortized cost $20,331,943), securities are held in
margin accounts as collateral for open futures
and forwards
    
    $
    20,335,000
    
    
    
    37.7
    %
    
    $
    20,331,943Forward contracts, at fair valueUnrealized appreciation on forward contractsCurrency
    
    
    
    
    
    
    0.8
    
    
    
    424,908Total unrealized appreciation on forward contracts
    
    
    
    
    
    
    0.8
    
    
    
    424,908Unrealized depreciation on forward contractsCurrency
    
    
    
    
    
    
    (0.7
    )
    
    
    (390,973
    )Total unrealized depreciation on forward contracts
    
    
    
    
    
    
    (0.7
    )
    
    
    (390,973
    )Total forward contracts, at fair value
    
    
    
    
    
    
    0.1
    
    
    
    33,935Futures contracts, at fair valueFutures contracts purchasedCurrency
    
    
    
    
    
    
    1.3
    
    
    
    728,131Energy
    
    
    
    
    
    
    3.3
    
    
    
    1,802,014Financial
    
    
    
    
    
    
    3.8
    
    
    
    2,042,288Food & Fiber
    
    
    
    
    
    
    (0.0
    )*
    
    
    (13,615
    )Indices
    
    
    
    
    
    
    2.0
    
    
    
    1,077,077Metals
    
    
    
    
    
    
    2.7
    
    
    
    1,451,077Total futures contracts purchased
    
    
    
    
    
    
    13.1
    
    
    
    7,086,972Futures contracts soldEnergy
    
    
    
    
    
    
    4.1
    
    
    
    2,235,070Financial
    
    
    
    
    
    
    0.7
    
    
    
    364,947Food & Fiber
    
    
    
    
    
    
    1.4
    
    
    
    734,875Metals
    
    
    
    
    
    
    0.1
    
    
    
    45,836Total futures contracts sold
    
    
    
    
    
    
    6.3
    
    
    
    3,380,728Total futures contracts, at fair value
    
    
    
    
    
    
    19.4
    %
    
    $
    10,467,700Futures and forward contracts by country compositionAustralia
    
    
    
    
    
    
    1.0
    %
    
    $
    543,194Canada
    
    
    
    
    
    
    0.3
    
    
    
    155,803European Monetary Union
    
    
    
    
    
    
    2.9
    
    
    
    1,539,675Great Britain
    
    
    
    
    
    
    1.6
    
    
    
    869,372Japan
    
    
    
    
    
    
    1.0
    
    
    
    557,494United States
    
    
    
    
    
    
    11.6
    
    
    
    6,260,577Other
    
    
    
    
    
    
    1.1
    
    
    
    575,520Total futures and forward contracts by country
composition
    
    
    
    
    
    
    19.5
    %
    
    $
    10,501,635
 
 *
    
    Due to rounding  10




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##### Table of Contents



SUPERFUND GREEN, L.P.  SERIES B
UNAUDITED CONDENSED SCHEDULE OF INVESTMENTS
December 31, 2009
 Percentage ofFace Value
    
    
    Net Assets
    
    
    Fair ValueDebt Securities United States, at fair valueUnited
States Treasury Bills due February 25, 2010
(amortized cost $26,383,789), securities are held in
margin accounts as collateral for open futures and
forwards
    
    $
    26,385,000
    
    
    
    50.9
    %
    
    $
    26,383,789Forward contracts, at fair valueUnrealized appreciation on forward contractsCurrency
    
    
    
    
    
    
    1.0
    
    
    
    509,064Total unrealized appreciation on forward contracts
    
    
    
    
    
    
    1.0
    
    
    
    509,064Unrealized depreciation on forward contractsCurrency
    
    
    
    
    
    
    (2.2
    )
    
    
    (1,130,981
    )Total unrealized depreciation on forward contracts
    
    
    
    
    
    
    (2.2
    )
    
    
    (1,130,981
    )Total forward contracts, at fair value
    
    
    
    
    
    
    (1.2
    )
    
    
    (621,917
    )Futures contracts, at fair valueFutures contracts purchasedCurrency
    
    
    
    
    
    
    (0.9
    )
    
    
    (454,542
    )Energy
    
    
    
    
    
    
    0.6
    
    
    
    332,460Financial
    
    
    
    
    
    
    (0.8
    )
    
    
    (442,961
    )Food & Fiber
    
    
    
    
    
    
    1.7
    
    
    
    868,763Indices
    
    
    
    
    
    
    3.0
    
    
    
    1,573,360Metals
    
    
    
    
    
    
    (1.5
    )
    
    
    (768,781
    )Total futures contracts purchased
    
    
    
    
    
    
    2.1
    
    
    
    1,108,299Futures contracts soldEnergy
    
    
    
    
    
    
    (0.1
    )
    
    
    (36,550
    )Financial
    
    
    
    
    
    
    0.4
    
    
    
    184,386Food & Fiber
    
    
    
    
    
    
    (0.2
    )
    
    
    (103,275
    )Livestock
    
    
    
    
    
    
    (0.1
    )
    
    
    (50,500
    )Indices
    
    
    
    
    
    
    (0.0
    )*
    
    
    (19,020
    )Total futures contracts sold
    
    
    
    
    
    
    (0.0
    )*
    
    
    (24,959
    )Total futures contracts, at fair value
    
    
    
    
    
    
    2.1
    
    
    
    1,083,340Futures and forward contracts by country compositionEuropean Monetary Union
    
    
    
    
    
    
    (0.2
    )
    
    
    (115,345
    )Great Britain
    
    
    
    
    
    
    0.2
    
    
    
    124,580Japan
    
    
    
    
    
    
    0.6
    
    
    
    297,984United States
    
    
    
    
    
    
    0.0
    *
    
    
    18,320Other
    
    
    
    
    
    
    0.3
    
    
    
    135,884Total futures and forward contracts by country
composition
    
    
    
    
    
    
    0.9
    %
    
    $
    461,423
 
 *
    
    Due to rounding  11




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##### Table of Contents



SUPERFUND GREEN, L.P.  SERIES B
UNAUDITED STATEMENTS OF OPERATIONS
 Three Months EndedMarch 31,2010
    
    
    2009Investment incomeInterest income
    
    $
    1,514
    
    
    $
    26,879Total income
    
    
    1,514
    
    
    
    26,879ExpensesManagement fee
    
    
    226,414
    
    
    
    314,480Ongoing offering expenses
    
    
    122,386
    
    
    
    169,989Operating expenses
    
    
    18,358
    
    
    
    25,498Selling commission
    
    
    489,544
    
    
    
    679,956Incentive fee
    
    
    
    
    
    
    301,233Brokerage commissions
    
    
    470,888
    
    
    
    145,445Other
    
    
    3,889
    
    
    
    5,782Total expenses
    
    
    1,331,479
    
    
    
    1,642,383Net investment loss
    
    
    (1,329,965
    )
    
    
    (1,615,504
    )Realized and unrealized gain
(loss) on investmentsNet realized gain (loss) on futures
and forward contracts
    
    
    (4,807,663
    )
    
    
    2,437,152Net change in unrealized
appreciation (depreciation) on
futures and forward contracts
    
    
    10,040,212
    
    
    
    (2,877,594
    )Net gain (loss) on investments
    
    
    5,232,549
    
    
    
    (440,442
    )Net increase (decrease) in net assets
from operations
    
    $
    3,902,584
    
    
    $
    (2,055,946
    )Net increase (decrease) in net assets
from operations per Unit (based upon
weighted average number of Units
outstanding during period)
    
    $
    109.18
    
    
    $
    (79.11
    )Net increase (decrease) in net assets from
operations per Unit (based upon change
in net asset value per Unit during
period)
    
    $
    112.79
    
    
    $
    (74.72
    )
 
 *
    
    Weighted average number of Units outstanding for
Series B for Three Months Ended March 31, 2010,
 and March 31, 2009: 35,745.56 and 25,989.68, respectively.  12




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##### Table of Contents



SUPERFUND GREEN, L.P.  SERIES B
UNAUDITED STATEMENTS OF CHANGES IN NET ASSETS
 Three Months EndedMarch 31,2010
    
    
    2009Increase (decrease) in net assets from operationsNet investment loss
    
    $
    (1,329,965
    )
    
    $
    (1,615,504
    )Net realized gain (loss) on futures and forward contracts
    
    
    (4,807,663
    )
    
    
    2,437,152Net change in unrealized appreciation (depreciation) on
futures and forward contracts
    
    
    10,040,212
    
    
    
    (2,877,594
    )Net increase (decrease) in net assets from operations
    
    
    3,902,584
    
    
    
    (2,055,946
    )Capital share transactionsIssuance of Units
    
    
    1,242,034
    
    
    
    14,870,172Redemption of Units
    
    
    (2,961,653
    )
    
    
    (7,913,511
    )Net increase (decrease) in net assets from capital share
transactions
    
    
    (1,719,619
    )
    
    
    6,956,661Net increase in net assets
    
    
    2,182,965
    
    
    
    4,900,715Net assets,beginning of period
    
    
    51,823,348
    
    
    
    60,617,051Net assets,end of period
    
    $
    54,006,313
    
    
    $
    65,517,766Units,beginning of period
    
    
    35,626.349
    
    
    
    23,305.633Issuance of Units
    
    
    933.078
    
    
    
    5,669.346Redemption of Units
    
    
    (2,104.203
    )
    
    
    (3,040.086
    )Units,end of period
    
    
    34,455.224
    
    
    
    25,934.893
  13




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##### Table of Contents



SUPERFUND GREEN, L.P.  SERIES B
UNAUDITED STATEMENTS OF CASH FLOWS
 Three Months EndedMarch 31,2010
    
    
    2009Cash flows from operating activitiesNet increase (decrease) in net assets from operations
    
    $
    3,902,584
    
    
    $
    (2,055,946
    )Adjustments to reconcile net increase (decrease) in net assets
from operations to net cash provided by (used in) operating
activities:Changes in operating assets and liabilities:Purchases of U.S. government securities
    
    
    (20,330,054
    )
    
    
    (61,095,045
    )Sales and maturities of U.S. government securities
    
    
    26,385,000
    
    
    
    79,227,285Amortization of discounts and premiums
    
    
    (3,100
    )
    
    
    23,134Due from brokers
    
    
    1,425,192
    
    
    
    (23,053,513
    )Unrealized appreciation on open forward contracts
    
    
    84,156
    
    
    
    (218,122
    )Futures contracts purchased
    
    
    (5,978,673
    )
    
    
    930,201Unrealized depreciation on open forward contracts
    
    
    (740,008
    )
    
    
    827,487Futures contracts sold
    
    
    (3,405,687
    )
    
    
    1,338,028Fees payable
    
    
    33,001
    
    
    
    3,271Net cash provided by (used in) operating activities
    
    
    1,372,411
    
    
    
    (4,073,220
    )Cash flows from financing activitiesSubscriptions, net of change in advance subscriptions
    
    
    1,242,034
    
    
    
    19,700,064Redemptions, net of change in redemptions payable
    
    
    (2,263,204
    )
    
    
    (8,527,246
    )Net cash provided by (used in) financing activities
    
    
    (1,021,170
    )
    
    
    11,172,818Net increase in cash
    
    
    351,241
    
    
    
    7,099,598Cash, beginning of period
    
    
    30,588
    
    
    
    668,701Cash, end of period
    
    $
    381,829
    
    
    $
    7,768,299
  14




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##### Table of Contents



SUPERFUND GREEN, L.P.  SERIES A AND B
 1. Nature of operations
 Organization and Business
   2. Basis of presentation and significant accounting policies
 Basis of Presentation
  Valuation of Investments in Futures Contracts, Forward Contracts, and U.S. Treasury Bills
   Translation of Foreign Currency
   15




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##### Table of Contents



Investment Transactions, Investment Income and Expenses
  Income Taxes
   Use of Estimates
  Recently Issued Accounting Pronouncements
 ASU 2010-06
 Improving Disclosures about
Fair Value Measurements Fair
Value Measurements and Disclosures
 3. Fair Value Measurements
  Level 1:
    
    Unadjusted quoted prices in active markets that are accessible at
the measurement date for identical,
 16




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##### Table of Contents



unrestricted assets or
liabilities;
 Level 2:
    
    Quoted prices in markets that are not considered to be active or
financial instruments for which all significant inputs are
observable, either directly or indirectly;Level 3:
    
    Prices or valuations that require inputs that are both
significant to the fair value measurement and unobservable.
  U.S. Government Securities.
 Derivative Contracts.
    17




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##### Table of Contents



BalanceMarch 31,2010
    
    
    Level 1
    
    
    Level 2
    
    
    Level 3ASSETSU.S. Government securities
    
    $
    14,167,868
    
    
    $
    
    
    
    $
    14,167,868
    
    
    $
    Unrealized appreciation on open forward contracts
    
    
    180,950
    
    
    
    
    
    
    
    180,950
    
    
    
    Futures contracts purchased
    
    
    3,280,054
    
    
    
    3,280,054
    
    
    
    
    
    
    
    Futures contracts sold
    
    
    1,568,778
    
    
    
    1,568,778
    
    
    
    
    
    
    
    Total Assets Measured at Fair Value
    
    $
    19,197,650
    
    
    $
    4,848,832
    
    
    $
    14,348,818
    
    
    $
    LIABILITIESUnrealized depreciation on open forward contracts
    
    $
    174,506
    
    
    $
    
    
    
    $
    174,506
    
    
    $
    Total Liabilities Measured at Fair Value
    
    $
    174,506
    
    
    $
    
    
    
    $
    174,506
    
    
    $
    
 18




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##### Table of Contents



BalanceMarch 31,2010
    
    
    Level 1
    
    
    Level 2
    
    
    Level 3ASSETSU.S. Government securities
    
    $
    20,331,943
    
    
    $
    
    
    
    $
    20,331,943
    
    
    $
    Unrealized appreciation on open forward contracts
    
    
    424,908
    
    
    
    
    
    
    
    424,908
    
    
    
    Futures contracts purchased
    
    
    7,086,972
    
    
    
    7,086,972
    
    
    
    
    
    
    
    Futures contracts sold
    
    
    3,380,728
    
    
    
    3,380,728
    
    
    
    
    
    
    
    Total Assets Measured at Fair Value
    
    $
    31,224,551
    
    
    $
    10,467,700
    
    
    $
    20,756,851
    
    
    $
    LIABILITIESUnrealized depreciation on open forward contracts
    
    $
    390,973
    
    
    $
    
    
    
    $
    390,973
    
    
    $
    Total Liabilities Measured at Fair Value
    
    $
    390,973
    
    
    $
    
    
    
    $
    390,973
    
    
    $
    
 19




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##### Table of Contents



BalanceDecember31, 2009
    
    
    Level 1
    
    
    Level 2
    
    
    Level 3ASSETSU.S. Government securities
    
    $
    16,019,268
    
    
    $
    
    
    
    $
    16,019,268
    
    
    $
    Unrealized appreciation on open forward contracts
    
    
    187,448
    
    
    
    
    
    
    
    187,448
    
    
    
    Futures contracts purchased
    
    
    465,462
    
    
    
    465,462
    
    
    
    
    
    
    
    Total Assets Measured at Fair Value
    
    $
    16,672,178
    
    
    $
    465,462
    
    
    $
    16,206,716
    
    
    $
    LIABILITIESUnrealized depreciation on open forward contracts
    
    $
    421,267
    
    
    $
    
    
    
    $
    421,267
    
    
    $
    Futures contracts sold
    
    
    10,673
    
    
    
    10,673
    
    
    
    
    
    
    
    Total Liabilities Measured at Fair Value
    
    $
    431,940
    
    
    $
    10,673
    
    
    $
    421,267
    
    
    $
    
 20




---



##### Table of Contents



BalanceDecember31, 2009
    
    
    Level 1
    
    
    Level 2
    
    
    Level 3ASSETSU.S. Government securities
    
    $
    26,383,789
    
    
    $
    
    
    
    $
    26,383,789
    
    
    $
    Unrealized appreciation on open forward contracts
    
    
    509,064
    
    
    
    
    
    
    
    509,064
    
    
    
    Futures contracts purchased
    
    
    1,108,299
    
    
    
    1,108,299
    
    
    
    
    
    
    
    Total Assets Measured at Fair Value
    
    $
    28,001,152
    
    
    $
    1,108,299
    
    
    $
    26,892,853
    
    
    $
    LIABILITIESUnrealized depreciation on open forward contracts
    
    $
    1,130,981
    
    
    $
    
    
    
    $
    1,130,981
    
    
    $
    Futures contracts sold
    
    
    24,959
    
    
    
    24,959
    
    
    
    
    
    
    
    Total Liabilities Measured at Fair Value
    
    $
    1,155,940
    
    
    $
    24,959
    
    
    $
    1,130,981
    
    
    $
    
 4. Disclosure of derivative instruments and hedging activities
 Disclosures about Derivative Instruments and Hedging Activities
   21




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##### Table of Contents



Statement of Assets
    
    
    Asset Derivatives at
    
    
    Liability DerivativesType of Instrument
    
    and Liabilities Location
    
    
    March 31, 2010
    
    
    at March 31, 2010
    
    
    NetForeign Exchange contracts
    
    Unrealized appreciation on open forward contracts
    
    $
    180,950
    
    
    $
    
    
    
    $
    180,950Foreign Exchange contracts
    
    Unrealized depreciation on open forward contracts
    
    
    
    
    
    
    (174,506
    )
    
    
    (174,506
    )Futures contracts
    
    Futures contracts purchased & Futures contacts sold
    
    
    4,848,832
    
    
    
    
    
    
    
    4,848,832Totals
    
    
    
    
    
    $
    5,029,782
    
    
    $
    (174,506
    )
    
    $
    4,855,276
  Change in UnrealizedDerivatives Not
    
    
    
    
    
    Realized Gain
    
    
    AppreciationDesignated as
    
    
    
    
    
    (Loss) on
    
    
    (Depreciation) onHedging
    
    Location of Gain (Loss) on
    
    
    Derivatives
    
    
    DerivativesInstruments under
    
    Derivatives Recognized in
    
    
    Recognized
    
    
    Recognized inASC 815
    
    Income
    
    
    in Income
    
    
    IncomeForeign Exchange contracts
    
    Net realized gain (loss) on futures and forward contracts
    
    
    ($516,527
    )
    
    $
    240,263Futures contracts
    
    Net realized gain (loss) on futures and forward contracts
    
    
    (1,387,174
    )
    
    
    4,394,043Total
    
    
    
    
    
    
    ($1,903,701
    )
    
    $
    4,634,306
 As of March 31, 2010Long Positions Gross Unrealized
    
    
    Short Position Gross Unrealized% of
    
    
    
    
    
    
    % of
    
    
    
    
    
    
    % of
    
    
    
    
    
    
    % of
    
    
    Net UnrealizedNet
    
    
    
    
    
    
    Net
    
    
    
    
    
    
    Net
    
    
    
    
    
    
    Net
    
    
    Gain on OpenGains
    
    
    Assets
    
    
    Losses
    
    
    Assets
    
    
    Gains
    
    
    assets
    
    
    Losses
    
    
    Assets
    
    
    PositionsForeign Exchange
    
    $
    177,884
    
    
    
    0.5
    
    
    $
    (105,092
    )
    
    
    (0.3
    )
    
    $
    3,066
    
    
    
    0.0
    *
    
    $
    (69,414
    )
    
    
    (0.2
    )
    
    $
    6,444Currency
    
    
    412,299
    
    
    
    1.2
    
    
    
    (65,538
    )
    
    
    (0.2
    )
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    346,761Financial
    
    
    1,053,324
    
    
    
    2.9
    
    
    
    (57,261
    )
    
    
    (0.2
    )
    
    
    174,295
    
    
    
    0.5
    
    
    
    (410
    )
    
    
    (0.0
    )*
    
    
    1,169,948Food & Fiber
    
    
    26,229
    
    
    
    0.1
    
    
    
    (39,195
    )
    
    
    (0.1
    )
    
    
    354,387
    
    
    
    1.0
    
    
    
    
    
    
    
    
    
    
    
    341,241Indices
    
    
    520,131
    
    
    
    1.5
    
    
    
    (22,587
    )
    
    
    (0.1
    )
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    497,544Metals
    
    
    657,257
    
    
    
    1.8
    
    
    
    (25,012
    )
    
    
    (0.1
    )
    
    
    20,183
    
    
    
    0.1
    
    
    
    (20,107
    )
    
    
    (0.1
    )
    
    
    632,321Energy
    
    
    820,407
    
    
    
    2.2
    
    
    
    
    
    
    
    
    
    
    
    1,040,430
    
    
    
    2.9
    
    
    
    
    
    
    
    0.0
    
    
    
    1,860,837Totals
    
    $
    3,667,531
    
    
    
    10.2
    
    
    $
    (314,685
    )
    
    
    (1.0
    )
    
    $
    1,592,361
    
    
    
    4.5
    
    
    $
    (89,931
    )
    
    
    (0.3
    )
    
    $
    4,855,276
 
 *
    
    Due to rounding 22




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##### Table of Contents



Average number
    
    Average
    
    Average
    
    Average valueof Long
    
    number of
    
    value of Long
    
    of ShortContracts
    
    Short Contracts
    
    Positions
    
    PositionsForeign Exchange
    
    
    82
    
    
    
    77
    
    
    $
    486,542
    
    
    $
    984,985AverageAverage
    
    number ofnumber of
    
    ShortLong Contracts
    
    ContractsCurrency
    
        
        
                
    
    944
    
    
    
    Financial
    
        
        
                
    
    1,250
    
    
    
    594Food & Fiber
    
        
        
                
    
    244
    
    
    
    243Indices
    
        
        
                
    
    1,043
    
    
    
    35Metals
    
        
        
                
    
    387
    
    
    
    58Livestock
    
        
        
                
    
    
    
    
    
    78Energy
    
        
        
                
    
    399
    
    
    
    154Totals
    
        
        
                
    
    4,349
    
    
    
    1,239
  For the Three Months Ended March 31, 2010Change in NetNet Realized
    
    
    Unrealized
    
    
    Net TradingGain (Losses)
    
    
    Gains (Losses)
    
    
    Gains (Losses)Foreign Exchange
    
    $
    (516,527
    )
    
    $
    240,263
    
    
    $
    (276,264
    )Currency
    
    
    (708,060
    )
    
    
    523,356
    
    
    
    (184,704
    )Financial
    
    
    361,896
    
    
    
    1,247,375
    
    
    
    1,609,271Food & Fiber
    
    
    (216,390
    )
    
    
    46,447
    
    
    
    (169,943
    )Indices
    
    
    648,896
    
    
    
    (100,002
    )
    
    
    548,894Metals
    
    
    (1,156,827
    )
    
    
    916,116
    
    
    
    (240,711
    )Livestock
    
    
    (134,680
    )
    
    
    20,060
    
    
    
    (114,620
    )Energy
    
    
    (182,009
    )
    
    
    1,740,691
    
    
    
    1,558,682Total net trading gains (losses)
    
    $
    (1,903,701
    )
    
    $
    4,634,306
    
    
    $
    2,730,605
   Statement of Assetsand Liabilities
    
    
    Asset Derivatives at
    
    
    Liability DerivativesType of Instrument
    
    Location
    
    
    March 31, 2010
    
    
    at March 31, 2010
    
    
    NetForeign Exchange contracts
    
    Unrealized appreciation on open forward contracts
    
    $
    424,908
    
    
    $
    
    
    
    $
    424,908Foreign Exchange contracts
    
    Unrealized depreciation on open forward contracts
    
    
    
    
    
    
    (390,973
    )
    
    
    (390,973
    )Futures contracts
    
    Futures contracts purchased & Futures contacts sold
    
    
    10,467,700
    
    
    
    
    
    
    
    10,467,700Totals
    
    
    
    
    
    $
    10,892,608
    
    
    $
    (390,973
    )
    
    $
    10,501,635
  Change in UnrealizedDerivatives Not
    
    
    
    
    
    
    
    AppreciationDesignated as
    
    
    
    
    
    
    
    (Depreciation) onHedging
    
    Location of Gain (Loss) on
    
    
    Realized Gain (Loss) on
    
    
    DerivativesInstruments Under
    
    Derivatives Recognized in
    
    
    Derivatives Recognized
    
    
    Recognized inASC 815
    
    Income
    
    
    in Income
    
    
    IncomeForeign Exchange contracts
    
    Net realized gain (loss) on futures and forward contracts
    
    
    ($1,405,504
    )
    
    $
    655,852Futures contracts
    
    Net realized gain (loss) on futures and forward contracts
    
    
    (3,402,159
    )
    
    
    9,384,360Total
    
    
    
    
    
    
    ($4,807,663
    )
    
    $
    10,040,212
 23




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##### Table of Contents



As of March 31, 2010Long Positions Gross Unrealized
    
    
    Short Position Gross UnrealizedNet% of
    
    
    
    
    
    
    % of
    
    
    
    
    
    
    % of
    
    
    
    
    
    
    % of
    
    
    UnrealizedNet
    
    
    
    
    
    
    Net
    
    
    
    
    
    
    Net
    
    
    
    
    
    
    Net
    
    
    Gain on OpenGains
    
    
    Assets
    
    
    Losses
    
    
    Assets
    
    
    Gains
    
    
    assets
    
    
    Losses
    
    
    Assets
    
    
    PositionsForeign Exchange
    
    $
    417,164
    
    
    
    0.8
    
    
    $
    (236,002
    )
    
    
    (0.4
    )
    
    $
    7,744
    
    
    
    0.0
    *
    
    $
    (154,971
    )
    
    
    (0.3
    )
    
    $
    33,935Currency
    
    
    863,887
    
    
    
    1.6
    
    
    
    (135,756
    )
    
    
    (0.3
    )
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    728,131Financial
    
    
    2,170,519
    
    
    
    4.0
    
    
    
    (128,231
    )
    
    
    (0.2
    )
    
    
    365,767
    
    
    
    0.7
    
    
    
    (820
    )
    
    
    (0.0)
    *
    
    
    2,407,235Food & Fiber
    
    
    71,420
    
    
    
    0.2
    
    
    
    (85,035
    )
    
    
    (0.2
    )
    
    
    734,875
    
    
    
    1.4
    
    
    
    
    
    
    
    
    
    
    
    721,260Indices
    
    
    1,132,453
    
    
    
    2.1
    
    
    
    (55,376
    )
    
    
    (0.1
    )
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    1,077,077Metals
    
    
    1,524,274
    
    
    
    2.8
    
    
    
    (73,197
    )
    
    
    (0.1
    )
    
    
    104,839
    
    
    
    0.2
    
    
    
    (59,003
    )
    
    
    (0.1
    )
    
    
    1,496,913Energy
    
    
    1,802,014
    
    
    
    3.3
    
    
    
    
    
    
    
    
    
    
    
    2,235,070
    
    
    
    4.1
    
    
    
    
    
    
    
    
    
    
    
    4,037,084Totals
    
    $
    7,981,731
    
    
    
    14.8
    
    
    $
    (713,597
    )
    
    
    (1.3
    )
    
    $
    3,448,295
    
    
    
    6.4
    
    
    $
    (214,794
    )
    
    
    (0.4
    )
    
    $
    10,501,635
 
 *
    
    Due to rounding  Average
    
    Average
    
    Average value
    
    Average valuenumber of
    
    number of
    
    of Long
    
    of ShortLong Contracts
    
    Short Contracts
    
    Positions
    
    PositionsForeign Exchange
    
    
    85
    
    
    
    93
    
    
    $
    1,279,728
    
    
    $
    2,562,190Average
    
    Averagenumber of
    
    number ofLong Contracts
    
    Short ContractsCurrency
    
    
        
        
                
    2,095
    
    
    
    Financial
    
    
        
        
                
    2,951
    
    
    
    1,327Food & Fiber
    
    
        
        
                
    558
    
    
    
    551Indices
    
    
        
        
                
    2,040
    
    
    
    75Metals
    
    
        
        
                
    897
    
    
    
    132Livestock
    
    
        
        
                
    
    
    
    
    178Energy
    
    
        
        
                
    925
    
    
    
    358Totals
    
    
        
        
                
    9,551
    
    
    
    2,714
  For the Three Months Ended March 31, 2010Change in NetNet Realized
    
    
    Unrealized
    
    
    Net TradingGains (Losses)
    
    
    Gains (Losses)
    
    
    Gains (Losses)Foreign Exchange
    
    $
    (1,405,504
    )
    
    $
    655,852
    
    
    $
    (749,652
    )Currency
    
    
    (1,654,409
    )
    
    
    1,182,673
    
    
    
    (471,736
    )Financial
    
    
    836,090
    
    
    
    2,665,810
    
    
    
    3,501,900Food & Fiber
    
    
    (287,075
    )
    
    
    (44,228
    )
    
    
    (331,303
    )Indices
    
    
    1,460,620
    
    
    
    (477,263
    )
    
    
    983,357Metals
    
    
    (2,821,778
    )
    
    
    2,265,693
    
    
    
    (556,085
    )Livestock
    
    
    (310,550
    )
    
    
    50,500
    
    
    
    (260,050
    )Energy
    
    
    (625,057
    )
    
    
    3,741,175
    
    
    
    3,116,118Total net trading gains (losses)
    
    $
    (4,807,663
    )
    
    $
    10,040,212
    
    
    $
    5,232,549
 24




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##### Table of Contents



5. Due from/to brokers
   6. Allocation of net profits and losses
   7. Related party transactions
   8. Financial highlights
  2010
    
    
    2009Series A
    
    
    Series B
    
    
    Series A
    
    
    Series BTotal return before incentive fees*
    
    
    5.2
    %
    
    
    7.8
    %
    
    
    (2.0
    )%
    
    
    (2.4
    )%Incentive fees*
    
    
    0.0
    %
    
    
    0.0
    %
    
    
    0.0
    %
    
    
    (0.5
    )%Total return after incentive fees*
    
    
    5.2
    %
    
    
    7.8
    %
    
    
    (2.0
    )%
    
    
    (2.9
    )%Ratios to average partners capital **Operating expenses before incentive fees
    
    
    9.6
    %
    
    
    10.9
    %
    
    
    7.6
    %
    
    
    8.1
    %Incentive fees
    
    
    0.0
    %
    
    
    0.0
    %
    
    
    0.0
    %
    
    
    1.8
    %
 25




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##### Table of Contents



2010
    
    
    2009Series A
    
    
    Series B
    
    
    Series A
    
    
    Series BTotal expenses
    
    
    9.6
    %
    
    
    10.9
    %
    
    
    7.6
    %
    
    
    9.9
    %Net investment loss
    
    
    (9.6
    )%
    
    
    (10.9
    )%
    
    
    (7.5
    )%
    
    
    (7.9
    )%Net asset value per unit, beginning of period
    
    $
    1,354.49
    
    
    $
    1,454.64
    
    
    $
    1,932.30
    
    
    $
    2,600.96Net investment loss
    
    
    (31.06
    )
    
    
    (37.15
    )
    
    
    (35.56
    )
    
    
    (62.45
    )Net gains (losses) on investments
    
    
    101.72
    
    
    
    149.94
    
    
    
    (2.12
    )
    
    
    (12.27
    )Net asset value per unit, end of period
    
    $
    1,425.15
    
    
    $
    1,567.43
    
    
    $
    1,894.62
    
    
    $
    2,526.24Other per Unit information:Net increase (decrease) in net assets from o
operations per Unit (based upon weighted
average number of Units during period)
    
    $
    75.16
    
    
    $
    109.18
    
    
    $
    (37.94
    )
    
    $
    (79.11
    )Net increase (decrease) in net assets from
Operations per Unit (based upon change
in net asset value per Unit)
    
    $
    70.66
    
    
    $
    112.79
    
    
    $
    (37.68
    )
    
    $
    (74.72
    )
 
 *
    
    Not annualized**
    
    Annualized, except for incentive fees  9. Financial instrument risk
     26




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##### Table of Contents



10. Subscriptions and redemptions
   11. Subsequent events
  27




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##### Table of Contents



ITEM 2.
    
    MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
 INTRODUCTION
  LIQUIDITY
    CAPITAL RESOURCES
  RESULTS OF OPERATIONS
 Three Months Ended March 31, 2010
     28




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##### Table of Contents



st
    29




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##### Table of Contents



Three Months Ended March 31, 2009
     st
  30




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##### Table of Contents



OFF-BALANCE SHEET RISK
   31




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##### Table of Contents



OFF-BALANCE SHEET ARRANGEMENTS
  CONTRACTUAL OBLIGATIONS
  CRITICAL ACCOUNTING POLICIES  VALUATION OF THE FUNDS POSITIONS
  RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS
 ASU 2010-06
 Improving Disclosures about
Fair Value Measurements Fair
Value Measurements and Disclosures
 ITEM 3.
    
    QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
  32




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##### Table of Contents



ITEM 4T.
    
    CONTROLS AND PROCEDURES
  PART II  OTHER INFORMATION
 ITEM 1.
    
    LEGAL PROCEEDINGS
  ITEM 1A.
    
    RISK FACTORS
  ITEM 2.
    
    UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
    Month
    
    Units Redeemed
    
    NAV per Unit ($)January 31, 2010
    
    
    224.218
    
    
    
    1,227.43February 28, 2010
    
    
    489.146
    
    
    
    1,245.67March 31, 2010
    
    
    728.798
    
    
    
    1,425.151,442.162
  Month
    
    Units Redeemed
    
    NAV per Unit ($)January 31, 2010
    
    
    391.705
    
    
    
    1,243.58February 28, 2010
    
    
    718.573
    
    
    
    1,275.90March 31, 2010
    
    
    993.925
    
    
    
    1,567.432,104.203
 ITEM 3.
    
    DEFAULTS UPON SENIOR SECURITIES
  33




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##### Table of Contents



ITEM 4.
    
    (REMOVED AND RESERVED)
 ITEM 5.
    
    OTHER INFORMATION
  ITEM 6.
    
    EXHIBITS
  31.1
    
    Rule 13a-14(a)/15d-14(a) Certification of Principal Executive Officer31.2
    
    Rule 13a-14(a)/15d-14(a) Certification of Principal Financial Officer32.1
    
    Section 1350 Certification of Principal Executive Officer32.2
    
    Section 1350 Certification of Principal Financial Officer
 34




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##### Table of Contents



SIGNATURES
  Date: May 17, 2010
    SUPERFUND GREEN, L.P. (formerly QUADRIGA SUPERFUND, L.P.)
(Registrant)By:
    Superfund Capital Management, Inc.General PartnerBy:
    /s/ Nigel JamesNigel JamesPresident and Principal Executive OfficerBy:
    /s/ Roman GregorigRoman GregorigVice President and Principal Financial Officer 35




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##### Table of Contents



Exhibit Number
    
    Description of Document
    
    Page Number31.1
    
    Rule 13a-14(a)/15d-14(a) Certification of Principal Executive Officer
    
    E-231.2
    
    Rule 13a-14(a)/15d-14(a) Certification of Principal Financial Officer
    
    E-332.1
    
    Section 1350 Certification of Principal Executive Officer
    
    E-432.2
    
    Section 1350 Certification of Principal Financial Officer
    
    E-5
 E-1