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, 2008
  OR ( ) TRANSITION REPORT PURSUANT SECTION 13 OR 15(d) OF
    THE SECURITIES EXCHANGE ACT OF 1934
  
  0-50735
  SMITH BARNEY POTOMAC FUTURES FUND L.P.
     New York

13-3937275(State or other jurisdiction of
    incorporation or organization)

(I.R.S. Employer
    Identification No.)   c/o Citigroup
    Managed Futures LLC
 731 Lexington Avenue - 25th Fl.
 New York, New York 10022
     (212) 559-2011
       Yes X  No
  Rule 12b-2
  Large
    accelerated filer
    Accelerated filer
    Non-accelerated filer X
    Smaller
    reporting company  rule 12b-2
  Yes   No X




---



##### 





SMITH BARNEY POTOMAC FUTURES FUND L.P.
  FORM 10-Q
  INDEX
  PageNumberPART I - Financial Information:Item 1.

Financial Statements:Statements of Financial Condition
    at June 30, 2008 and December 31, 2007 (unaudited)

3Statements of Income and Expenses
    and Partners Capital for the three and six
    months ended June 30, 2008 and 2007
    (unaudited)

4Statements of Cash Flows for the
    three and six months ended June 30, 2008 and 2007
    (unaudited)

5Notes to Financial Statements, including the Financial
    Statements of CMF Campbell Master Fund L.P.
    (unaudited)

6 - 16Item 2.

Managements Discussion and
    Analysis of Financial Condition
    and Results of Operations

17  21Item 3.

Quantitative and Qualitative
    Disclosures about Market Risk

22  23Item 4.

Controls and Procedures

24PART II - Other Information

25  27  2




---



##### 



PART I Item 1.
    Financial Statements  Smith
    Barney Potomac Futures Fund L.P.
    Statements of Financial Condition
    (Unaudited)  June 30,


December 31,2008


2007Assets:Investment in Master, at fair value

$
136,009,554



155,947,081Cash


107,225



51,229Distribution receivable


153,136



310,280Total assets

$
136,269,915


$
156,308,590Liabilities and Partners Capital:Liabilities:Accrued expenses:Brokerage commissions

$
738,129


$
846,672Management fees


225,733



258,999Other


92,231



62,560Redemptions payable


13,758,939



6,270,708Total liabilities


14,815,032



7,438,939Partners Capital:General Partner 729.3902 Unit equivalents outstanding in 2008
    and 2007


1,185,026



1,147,659Limited Partners 74,026.6525 and 93,884.0539 Redeemable
    Units of Limited Partnership Interest outstanding in 2008 and
    2007, respectively


120,269,857



147,721,992Total partners capital


121,454,883



148,869,651Total liabilities and partners capital

$
136,269,915


$
156,308,590    3




---



##### 



Smith
    Barney Potomac Futures Fund L.P.
    Statements of Income and Expenses and Partners Capital
    (Unaudited)  Three Months Ended


Six Months EndedJune 30,


June 30,2008


2007


2008


2007Income:Net realized gains (losses) on closed positions allocated from
    Master

$
1,512,815


$
19,571,050


$
2,817,030


$
17,672,024Change in net unrealized gains (losses) on open positions
    allocated from Master


6,190,837



8,673,953



6,331,864



(2,595,876
)Interest income allocated from Master


373,352



2,019,034



1,007,378



4,190,231Expenses allocated from Master


(29,841
)


(59,143
)


(65,395
)


(135,794
)Total income (loss)


8,047,163



30,204,894



10,090,877



19,130,585Expenses:Brokerage commissions


2,190,866



3,577,641



4,595,214



7,218,154Management fees


670,042



1,094,631



1,405,436



2,208,511Other


54,227



41,527



104,633



79,930Total expenses


2,915,135



4,713,799



6,105,283



9,506,595Net income (loss)


5,132,028



25,491,095



3,985,594



9,623,990Additions  Limited Partners


820,000



625,000



4,645,000



2,395,000Redemptions  Limited Partners


(21,641,054
)


(16,860,415
)


(36,045,362
)


(24,839,375
)Net increase (decrease) in partners capital


(15,689,026
)


9,255,680



(27,414,768
)


(12,820,385
)Partners Capital, beginning of period


137,143,909



207,782,182



148,869,651



229,858,247Partners Capital, end of period

$
121,454,883


$
217,037,862


$
121,454,883


$
217,037,862Net Asset Value per Unit (74,756.0427 and 112,395.6295 Units
    outstanding at June 30, 2008 and 2007, respectively)

$
1,624.68


$
1,931.02


$
1,624.68


$
1,931.02Net income (loss) per Redeemable Unit of Limited Partnership
    Interest and General Partner Unit equivalent

$
63.49


$
215.60


$
51.23


$
86.45    4




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##### 



Smith
    Barney Potomac Futures Fund L.P.
    Statements of Cash Flows
    (Unaudited)  Three Months Ended


Six Months EndedJune 30,


June 30,2008


2007


2008


2007Cash flows from operating activities:Net income (loss)

$
5,132,028


$
25,491,095


$
3,985,594


$
9,623,990Adjustments to reconcile net income (loss) to net cash provided
    by (used in) operating activities:Changes in operating assets and liabilities:Purchase of investment in Master


(820,000
)


(625,000
)


(4,645,000
)


(2,395,000
)Proceeds from sale of investment in Master


18,391,512



17,383,875



34,830,548



40,051,349Net change in unrealized (appreciation) depreciation on
    investment in Master


(8,028,475
)


(30,204,894
)


(10,248,021
)


(19,130,585
)(Increase) decrease in distribution receivable


(18,688
)






157,144



Accrued expenses:Increase (decrease) in brokerage commissions


(51,577
)


72,811



(108,543
)


(100,043
)Increase (decrease) in management fees


(15,790
)


22,285



(33,266
)


(30,634
)Increase (decrease) in other


3,715



(1,761
)


29,671



11,136Net cash provided by (used in) operating activities


14,592,725



12,138,411



23,968,127



28,030,213Cash flows from financing activities:Proceeds from additions  Limited Partners


820,000



625,000



4,645,000



2,395,000Payments for redemptions  Limited Partners


(15,410,296
)


(12,767,360
)


(28,557,131
)


(30,369,040
)Net cash provided by (used in) financing activities


(14,590,296
)


(12,142,360
)


(23,912,131
)


(27,974,040
)Net change in cash


2,429



(3,949
)


55,996



56,173Cash, at beginning of period


104,796



61,808



51,229



1,686Cash, at end of period

$
107,225


$
57,859


$
107,225


$
57,859Non-cash financing activities:Change in redemptions payable

$
6,230,758


$



$
7,488,231


$
    5




---



##### 



Smith
    Barney Potomac Futures Fund L.P.
    Notes to Financial Statements
    June 30, 2008
    (Unaudited)  1.
    General:          Form 10-K
   6




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##### 



Smith
    Barney Potomac Futures Fund L.P.
    Notes to Financial Statements
    June 30, 2008
    (Unaudited)
    CMF
    Campbell Master Fund L.P.
    Statements of Financial Condition
    (Unaudited)
  June 30,


December 31,2008


2007Assets:Equity in commodity futures trading account:Cash (restricted $18,753,813 and $17,299,861 in 2008 and 2007,
    respectively)

$
174,108,090


$
219,631,424Net unrealized appreciation on open futures contracts


6,558,353



1,316,942Unrealized appreciation on open forward contracts


3,314,919



5,178,307Commodity options owned, at fair value (cost $41,361 and
    $269,832 in 2008 and 2007, respectively)


48,295



263,000184,029,657



226,389,673Interest receivable


204,260



435,815Total assets

$
184,233,917


$
226,825,488Liabilities and Partners Capital:Liabilities:Unrealized depreciation on open forward contracts

$
2,582,811


$
7,684,822Commodity options written, at fair value (premium $25,629 and
    $153,329 in 2008 and 2007, respectively)


12,867



110,504Accrued expenses:Other


18,701



22,189Redemption Payable






1,875,958Distribution payable


204,260



435,815Total liabilities


2,818,639



10,129,288Partners Capital:Limited Partners Capital, 154,624.8850 and 197,763.9128
    Redeemable Units of Limited Partnership Interest outstanding in
    2008 and 2007, respectively


181,415,278



216,696,200Total liabilities and partners capital

$
184,233,917


$
226,825,488  7




---



##### 



Smith
    Barney Potomac Futures Fund L.P.
    Notes to Financial Statements
    June 30, 2008
    (Unaudited)
  CMF
    Campbell Master Fund L.P.
    Schedule of Investments
    June 30, 2008
    (Unaudited)
  % of PartnersFair Value


CapitalFutures Contracts PurchasedEnergy

$
590,320



0.33
%Interest Rates Non-U.S.


(152,146
)


(0.08
)Interest Rates U.S.


672,998



0.37Indices


(228,488
)


(0.13
)Metals


21,900



.01Total futures contracts purchased


904,584



0.50Futures Contracts SoldEnergy


(26,225
)


(0.01
)Interest Rates Non-U.S.


1,125,457



0.62Interest Rates U.S.


(493,110
)


(0.27
)Indices


5,047,647



2.78Total futures contracts sold


5,653,769



3.12Unrealized Appreciation on Open Forward ContractsCurrencies


3,307,215



1.82Metals


7,704



0.00
*Total unrealized appreciation on forward contracts


3,314,919



1.82Unrealized Depreciation on Open Forward ContractsCurrencies


(2,396,919
)


(1.32
)Metals


(185,892
)


(0.10
)Total unrealized depreciation on forward contracts


(2,582,811
)


(1.42
)Options OwnedEnergy


48,295



0.03Options WrittenEnergy


(12,867
)


(0.01
)Total fair value

$
7,325,889



4.04
%   *
    
    Due to rounding 8




---



##### 



Smith
    Barney Potomac Futures Fund L.P.
    Notes to Financial Statements
    June 30, 2008
    (Unaudited)
  CMF
    Campbell Master Fund L.P.
    Schedule of Investments
    December 31, 2007
    (Unaudited)
  % of PartnersFair Value


CapitalFutures Contracts PurchasedEnergy

$
504,120



0.23
%Interest Rates Non-U.S.


111,291



0.05Interest Rates U.S.


380,506



0.18Indices


698,091



0.32Metals


215,440



0.10Total futures contracts purchased


1,909,448



0.88Futures Contracts SoldEnergy


(391,048
)


(0.18
)Interest Rates Non-U.S.


(159,023
)


(0.07
)Interest Rates U.S.


(3,078
)


(0.00
)*Indices


(39,357
)


(0.02
)Total futures contracts sold


(592,506
)


(0.27
)Unrealized Appreciation on Open Forward ContractsCurrencies


5,081,872



2.35Metals


96,435



0.04Total unrealized appreciation on open forward contracts


5,178,307



2.39Unrealized Depreciation on Open Forward ContractsCurrencies


(7,615,465
)


(3.52
)Metals


(69,357
)


(0.03
)Total unrealized depreciation on open forward contracts


(7,684,822
)


(3.55
)Options OwnedEnergy


263,000



0.12Options WrittenEnergy


(110,504
)


(0.05
)Total fair value

$
(1,037,077
)


(0.48
)%   *
    
    Due to rounding 9




---



##### 



Smith
    Barney Potomac Futures Fund L.P.
    Notes to Financial Statements
    June 30, 2008
    (Unaudited)
  CMF
    Campbell Master Fund L.P.
    Statements of Income and Expenses and Partners Capital
    (Unaudited)
   Three Months Ended


Six Months EndedJune 30,


June 30,2008


2007


2008


2007Income:Net gains (losses) on trading of commodity interests:Net realized gains (losses) on closed positions and foreign
    currencies

$
1,934,313


$
27,065,965


$
3,759,185


$
24,418,814Change in net unrealized gains (losses) on open positions


8,268,036



11,953,976



8,463,737



(3,472,700
)Gain (loss) from trading, net


10,202,349



39,019,941



12,222,922



20,946,114Interest Income


500,727



2,795,037



1,386,875



5,775,553Total income (loss)


10,703,076



41,814,978



13,609,797



26,721,667Expenses:Clearing fees


31,493



69,929



72,313



165,449Other expenses


8,516



11,789



17,382



21,279Total expenses


40,009



81,718



89,695



186,728Net income (loss)


10,663,067



41,733,260



13,520,102



26,534,939Additions  Limited Partners


820,000



1,326,328



4,645,000



3,096,328Redemptions  Limited Partners


(32,673,406
)


(19,388,359
)


(52,059,149
)


(41,140,137
)Distribution of interest to feeder funds


(500,727
)


(2,795,037
)


(1,386,875
)


(5,775,553
)Net increase (decrease) in Partners Capital


(21,691,066
)


20,876,192



(35,280,922
)


(17,284,423
)Partners Capital, beginning of period


203,106,344



288,929,775



216,696,200



327,090,390Partners Capital, end of period

$
181,415,278


$
309,805,967


$
181,415,278


$
309,805,967Net Asset Value per Redeemable Unit (154,624.8850 and
    236,854.3465 Units outstanding at June 30, 2008 and 2007,
    respectively)

$
1,173.26


$
1,308.00


$
1,173.26


$
1,308.00Net income (loss) per Redeemable Unit of Limited Partnership
    Interest

$
70.15


$
171.71


$
85.36


$
111.36  10




---



##### 



Smith
    Barney Potomac Futures Fund L.P.
    Notes to Financial Statements
    June 30, 2008
    (Unaudited)
  CMF
    Campbell Master Fund L.P.
    Statements of Cash Flows
    (Unaudited)
  Three Months Ended


Six Months EndedJune 30,


June 30,2008


2007


2008


2007Cash flows from operating activities:Net income (loss)

$
10,663,067


$
41,733,260


$
13,520,102


$
26,534,939Adjustments to reconcile net income (loss) to net cash provided
    by (used in) operating activities:Changes in operating assets and liabilities:(Increase) decrease in restricted cash


(5,166,044
)


(12,815,058
)


(1,453,952
)


13,663,023(Increase) decrease in net unrealized appreciation on open
    futures contracts


(6,558,353
)


(3,891,580
)


(5,241,411
)


3,256,535(Increase) decrease in unrealized appreciation on open forward
    contracts


4,849,890



(7,724,491
)


1,863,388



2,640,562(Increase) decrease in options owned, at fair value


3,990



(205,986
)


214,705



(181,746
)(Increase) decrease in interest receivable


(16,648
)


94,354



231,555



85,612Increase (decrease) in net unrealized depreciation on open
    futures contracts


(2,163,244
)










Increase (decrease) in unrealized depreciation on open forward
    contracts


(4,398,807
)


(311,849
)


(5,102,011
)


(2,443,871
)Increase (decrease) in options written, at fair value


468



132,074



(97,637
)


118,600Accrued expenses:Increase (decrease) in other


(1,854
)


7,054



(3,488
)


10,096Net cash provided by (used in) operating activities


(2,787,535
)


17,017,778



3,931,251



43,683,750Cash flows from financing activities:Proceeds from additions  Limited Partners


820,000



1,326,328



4,645,000



3,096,328Payments for redemptions  Limited Partners


(32,673,406
)


(19,388,359
)


(53,935,107
)


(41,140,137
)Distribution of interest income to feeder funds


(484,079
)


(2,889,391
)


(1,618,430
)


(5,861,165
)Net cash provided by (used in) financing activities


(32,337,485
)


(20,951,422
)


(50,908,537
)


(43,904,974
)Net change in unrestricted cash


(35,125,020
)


(3,933,644
)


(46,977,286
)


(221,224
)Unrestricted cash, at beginning of period


190,479,297



267,689,576



202,331,563



263,977,156Unrestricted cash, at end of period

$
155,354,277


$
263,755,932


$
155,354,277


$
263,755,932Non-cash financing activities:Change in distribution payable

$
16,648


$



$
(231,555
)

$
Change in redemptions payable

$



$



$
(1,875,958
)

$
  11




---



##### 



Smith
    Barney Potomac Futures Fund L.P.
    Notes to Financial Statements
    June 30, 2008
    (Unaudited)
  2.
    Financial
    Highlights:    Three Months Ended


Six Months EndedJune 30,


June 30,2008


2007


2008


2007Net realized and unrealized gains (losses) allocated from Master*

$
67.63


$
208.25


$
57.07


$
70.92Interest income allocated from Master


4.38



16.99



11.10



34.52Expenses**


(8.52
)


(9.64
)


(16.94
)


(18.99
)Increase (decrease) for the period


63.49



215.60



51.23



86.45Net Asset Value per Redeemable Unit of Limited Partnership
    Interest, beginning of period


1,561.19



1,715.42



1,573.45



1,844.57Net Asset Value per Redeemable Unit of Limited Partnership
    Interest, end of period

$
1,624.68


$
1,931.02


$
1,624.68


$
1,931.02   *
    
    Includes Partnership brokerage commissions and expenses
    allocated from the Master.**
    
    Excludes Partnership brokerage commissions and expenses
    allocated from the Master.  Three Months Ended


Six Months EndedJune 30,


June 30,2008


2007


2008


2007Ratio to average net assets:***Net investment income (loss) before incentive fees****


(8.0
)%


(5.2
)%


(7.6
)%


(5.0
)%Operating expenses


9.2
%


9.0
%


9.1
%


8.9
%Incentive fees



%



%



%



%Total expenses


9.2
%


9.0
%


9.1
%


8.9
%Total return:Total return before incentive fees


4.1
%


12.6
%


3.3
%


4.7
%Incentive fees



%



%



%



%Total return after incentive fees


4.1
%


12.6
%


3.3
%


4.7
%   ***
    
    Annualized (other than incentive fee)****
    
    Interest income allocated from Master less total expenses   12




---



##### 



Smith
    Barney Potomac Futures Fund L.P.
    Notes to Financial Statements
    June 30, 2008
    (Unaudited)
    Three Months Ended


Six Months EndedJune 30,


June 30,2008


2007


2008


2007Net realized and unrealized gains (losses)*

$
67.08


$
160.31


$
77.63


$
88.33Interest income


3.13



11.45



7.83



23.11Expenses **


(0.06
)


(0.05
)


(0.10
)


(0.08
)Increase (decrease) for the period


70.15



171.71



85.36



111.36Distribution of interest to feeder funds


(3.13
)


(11.45
)


(7.83
)


(23.11
)Net Asset Value per Unit, beginning of period


1,106.24



1,147.74



1,095.73



1,219.75Net Asset Value per Unit, end of period

$
1,173.26


$
1,308.00


$
1,173.26


$
1,308.00   *
    
    Includes clearing fees.**
    
    Excludes clearing fees.  Three Months Ended


Six Months EndedJune 30,


June 30,2008


2007


2008


2007Ratios to average net assets:***Net investment income (loss) ****


1.0
%


3.6
%


1.3
%


3.7
%Operating expense


0.1
%


0.1
%


0.1
%


0.1
%Total return


6.3
%


15.0
%


7.8
%


9.1
%   ***
    
    Annualized****
    
    Interest income less total expenses    3.
    Trading
    Activities:       13




---



##### 



Smith
    Barney Potomac Futures Fund L.P.
    Notes to Financial Statements
    June 30, 2008
    (Unaudited)
      4.
    Fair
    Value Measurements:  Investments.
  Fair Value Measurements. Fair Value Measurements No. FAS 157-2, Effective Date of FASB Statement No. 157
    Quoted Pricesin Active Markets


Significant Other


Significantfor Identical


Observable Inputs


Unobservae6/30/2008


Assets (Level 1)


(Level 2)


Inputs (Level 3)AssetsInvestment in Master

$
136,009,554


$



$
136,009,554


$
Total fair value

$
136,009,554


$



$
136,009,554


$
   Investments.
  Fair Value Measurements. Fair Value Measurements
 14




---



##### 



Smith
    Barney Potomac Futures Fund L.P.
    Notes to Financial Statements
    June 30, 2008
    (Unaudited)
  No. FAS 157-2, Effective Date of FASB Statement No. 157
    Quoted Prices inActive Markets


Significant Other


Significantfor Identical


Observable Inputs


Unobservable6/30/2008


Assets (Level 1)


(Level 2)


Inputs (Level 3)AssetsFutures

$
6,558,353


$
6,558,353


$



$
Forwards


3,314,919







3,314,919



Options owned


48,295







48,295



Total assets


9,921,567



6,558,353



3,363,214



LiabilitiesForwards

$
2,582,811


$



$
2,582,811


$
Options written


12,867







12,867



Total liabilities


2,595,678







2,595,678



Total fair value

$
7,325,889


$
6,558,353


$
767,536


$
   5.
    Financial
    Instrument Risks:   15




---



##### 



Smith
    Barney Potomac Futures Fund L.P.
    Notes to Financial Statements
    June 30, 2008
    (Unaudited)
           16




---



##### 



Item 2.
    Managements
    Discussion and Analysis of Financial Condition and Results of
    Operations.  Liquidity
    and Capital Resources
            Critical
    Accounting Policies
  Use of Estimates.
  Investments.
  Fair Value Measurements. Fair Value Measurements No. FAS 157-2, Effective Date of FASB Statement No. 157
  17




---



##### 



Quoted Pricesin Active Markets


Significant Other


Significantfor Identical


Observable Inputs


Unobservable6/30/2008


Assets (Level 1)


(Level 2)


Inputs (Level 3)AssetsInvestment in Master

$
136,009,554


$



$
136,009,554


$
Total fair value

$
136,009,554


$



$
136,009,554


$
   Investments.
  Fair Value Measurements. Fair Value Measurements No. FAS 157-2, Effective Date of FASB Statement No. 157
 18




---



##### 



Quoted Prices inActive Markets


Significant Other


Significantfor Identical


Observable Inputs


Unobservable6/30/2008


Assets (Level 1)


(Level 2)


Inputs (Level 3)AssetsFutures

$
6,558,353


$
6,558,353


$



$
Forwards


3,314,919







3,314,919



Options owned


48,295







48,295



Total assets


9,921,567



6,558,353



3,363,214



LiabilitiesForwards

$
2,582,811


$



$
2,582,811


$
Options written


12,867







12,867



Total liabilities


2,595,678







2,595,678



Total fair value

$
7,325,889


$
6,558,353


$
767,536


$
   Income and Expenses Recognition.
  Forward Foreign Currency Contracts. agreed-upon
  Income Taxes.
     19




---



##### 



Recent Accounting Pronouncements.
  Results
    of Operations
  non-U.S. interest non-U.S. interest
        non-U.S. interest non-U.S. interest
   20




---



##### 



30-day 3-month and/or 90-day
       21




---



##### 



Item 3.
    Quantitative
    and Qualitative Disclosures about Market Risk          one-day
 22




---



##### 



Form 10-K
  June 30,
    2008
    (Unaudited)
  Three Months ended June 30, 2008% of Total


High


Low


AverageMarket Sector

Value at Risk


Capital


Value at Risk


Value at Risk


Value at Risk*Currencies: OTC Contracts

$
5,356,092



2.95
%

$
5,356,092


$
2,687,710


$
4,282,816Energy


1,091,200



0.60
%


1,689,425



350,150



917,225Interest Rates U.S


568,980



0.31
%


1,181,910



467,030



907,377Interest Rates Non-U.S


2,624,160



1.45
%


3,132,142



854,534



2,209,270Metals: Exchange Traded Contracts


19,500



0.01
%


168,000



19,500



80,917 OTC Contracts


360,237



0.20
%


398,920



228,353



335,147Indices


7,776,342



4.29
%


7,776,342



3,934,156



5,911,517Total

$
17,796,511



9.81
%   *
    
    Average of Month-end Values at Risk 23




---



##### 



Item 4.
    Controls
    and Procedures      Rule 13a-15(e) 15d-15(e)
  internal control over financial
    reporting
  
    pertain to the maintenance of records that in reasonable detail
    accurately and fairly reflect the transactions and dispositions
    of the assets of the Partnership;
    provide reasonable assurance that (i) transactions are
    recorded as necessary to permit preparation of financial
    statements in accordance with U.S. generally accepted
    accounting principles, and (ii) the Partnerships
    receipts are handled and expenditures are made only pursuant to
    authorizations of the General Partner; and
    provide reasonable assurance regarding prevention or timely
    detection of unauthorized acquisition, use or disposition of the
    Partnerships assets that could have a material effect on
    the financial statements.   24




---



##### 



PART II.
    OTHER INFORMATION  Item 1.
    Legal
    Proceedings  Form 10-K Form 10-Q
  Enron
  Ahlich v. Arthur Andersen, L.L.P. Delgado v. Fastow Pearson v. Fastow Rosen v. Fastow Bullock v. Arthur Andersen, L.L.P. Choucroun v. Arthur Andersen, L.L.P. Guy v. Arthur Andersen, L.L.P. Adams v. Arthur Andersen, L.L.P. Jose v. Arthur Andersen, L.L.P. Odam, et al., v. Enron Corp., et al
      IPO Civil
    Litigation
    Subprime
    Mortgage-Related Litigation
  In Re
    Citigroup Inc. Shareholder Derivative Litigation
  In Re American Home
    Mortgage Securities Litigation
  In Re Countrywide
    Financial Corp. Securities Litigation
  Other
    Matters
    Auction
    Rate Securities
   25




---



##### 



In Re Citigroup Auction Rate securities
    Litigation
    and/or
  Ferguson Family Trust v. Falcon
  Strategies Two LLC, et
    al.
  In re MAT Five Securities
    Litigation
  Item 1A.  Risk
    Factors
  Form 10-K
    Item 2.
    Unregistered
    Sales of Equity Securities and Use of Proceeds     26




---



##### 



(d) Maximum Number(or Approximate(c) Total Number



Dollar Value) of(a) Total







of Redeemable Units



Redeemable Units thatNumber of



(b) Average



Purchased as Part



May Yet BeRedeemable



Price Paid per



of Publicly Announced



Purchased Under thePeriod


Units Purchased*



Redeemable Unit**



Plans or Programs



Plans or ProgramsApril 1, 2008 -
    April 30, 2008



2,505.2515



$
1,517.00




N/A




N/AMay 1, 2008 -
    May 31, 2008



2,643.4687



$
1,544.05




N/A




N/AJune 1, 2008 -
    June 30, 2008



8,468.7071



$
1,624.68




N/A




N/A13,617.4273



$
1,589.22   * Generally, Limited Partners
    are permitted to redeem their Redeemable Units as of the end of
    each month on 10 days notice to the General Partner.
    Under certain circumstances, the General Partner can compel
    redemption but to date the General Partner has not exercised
    this right. Purchases of Redeemable Units by the Partnership
    reflected in the chart above were made in the ordinary course of
    the Partnerships business in connection with effecting
    redemptions for Limited Partners.
  ** Redemptions of Redeemable
    Units are effected as of the last day of each month at the Net
    Asset Value per Redeemable Unit as of that day.
  Item 3.
    Defaults
    Upon Senior Securities  None  Item 4.
    Submission
    of Matters to a Vote of Security Holders 
    None  Item 5.
    Other
    Information  None  Item 6.
    Exhibits  Regulation S-K Form 10-K
  Rule 13a-14(a)/15d-14(a)
   Rule 13a-14(a)/15d-14(a)
        27




---



##### 



SIGNATURES
    SMITH BARNEY POTOMAC FUTURES FUND L.P.By:

Citigroup Managed Futures LLC(General
    Partner)By:

/s/  Jerry
    PascucciJerry
    Pascucci
    President and DirectorDate: August 14, 2008By:

/s/  Jennifer
    MagroJennifer
    Magro
    Chief Financial Officer and DirectorDate: August 14, 2008  28