SECURITIES AND EXCHANGE COMMISSION
                        Washington, D.C. 20549

                              FORM 10-Q

X  Quarterly Report Under Section 13 or 15(d) of the
        Securities Exchange Act of 1934

For the Quarter Ended September 30, 1999
                      ------------------

Commission File Number 0-25585
                       -------



PROFUTURES LONG/SHORT GROWTH FUND, L.P.
---------------------------------------
(Exact name of registrant)


       Delaware                             74-2849862
-----------------------        -----------------------------------
(State of Organization)        (I.R.S.Employer Identification No.)



ProFutures, Inc.
11612 Bee Cave Road
Suite 100
Austin, Texas  78733
----------------------------------------
(Address of principal executive offices)

Registrant's telephone number
(800) 348-3601
--------------

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



PART I - FINANCIAL INFORMATION



Item 1.   Financial Statements.



                      PROFUTURES LONG/SHORT GROWTH FUND, L.P.
                         STATEMENTS OF FINANCIAL CONDITION
          September 30, 1999 (Unaudited) and December 31, 1998 (Audited)
                                   -------------



                                                 September 30,   December 31,
                                                     1999            1998
                                                     ----            ----
ASSETS
  Equity in broker trading account
    Cash                                         $37,843,355     $15,444,073
    United States government securities                    0       3,406,808
    Unrealized gain on open contracts              5,045,525       1,163,250
                                                ------------     -----------

          Deposits with broker                    42,888,880      20,014,131

  Cash                                               677,394          10,415
                                                 -----------     -----------

          Total assets                           $43,566,274     $20,024,546
                                                 ===========     ===========

LIABILITIES
  Accounts payable                               $    21,223     $    12,215
  Commissions and other trading fees
    on open contracts                                  2,675             771
  General Partner management fee                     107,207          46,529
  Advisor incentive fee                                    0       1,400,060
  Redemptions payable                                226,220          10,000
                                                 -----------     -----------

          Total liabilities                          357,325       1,469,575
                                                 -----------     -----------

PARTNERS' CAPITAL (Net Asset Value)
  General Partner - 61.4461 units
    outstanding at September 30, 1999
    and December 31, 1998                            117,322         116,671
  Limited Partners - 22,576.1052 and
    9,710.7200 units outstanding at
    September 30, 1999 and December 31, 1998      43,091,627      18,438,300
                                                 -----------     -----------

          Total partners' capital
            (Net Asset Value)                     43,208,949      18,554,971
                                                 -----------     -----------

                                                 $43,566,274     $20,024,546
                                                 ===========     ===========


                              See accompanying notes.



                      PROFUTURES LONG/SHORT GROWTH FUND, L.P.
                             STATEMENTS OF OPERATIONS
               For the Nine Months Ended September 30, 1999 and 1998
                                    (Unaudited)
                                   -------------



                                                     Nine months ended
                                                        September 30,
                                                    1999            1998
                                                    ----            ----
INCOME
  Trading gains (losses)
    Realized                                    $(3,447,975)    $ 1,588,994
    Change in unrealized                          3,882,275        (978,675)
                                                -----------     -----------

          Gain from trading                         434,300         610,319

  Interest income                                 1,076,564         254,997
                                                -----------     -----------

          Total income                            1,510,864         865,316
                                                -----------     -----------

EXPENSES
  Brokerage commissions                              23,021           6,138
  General Partner management fee                    682,789         140,053
  Advisor incentive fee                             293,116         171,310
  Operating expenses                                 77,830          42,262
                                                -----------     -----------

          Total expenses                          1,076,756         359,763
                                                -----------     -----------

          NET INCOME                            $   434,108     $   505,553
                                                ===========     ===========

NET INCOME PER GENERAL AND LIMITED PARTNER UNIT
  (based on weighted average number of
  units outstanding during the period of
  16,164.1648 and 4,959.2859, respectively)     $     26.86     $    101.94
                                                ===========     ===========

INCREASE IN NET ASSET VALUE PER GENERAL
  AND LIMITED PARTNER UNIT                      $      9.97     $    331.10
                                                ===========     ===========


                              See accompanying notes.



                      PROFUTURES LONG/SHORT GROWTH FUND, L.P.
                             STATEMENTS OF OPERATIONS
              For the Three Months Ended September 30, 1999 and 1998
                                    (Unaudited)
                                   -------------



                                                     Three months ended
                                                        September 30,
                                                    1999            1998
                                                    ----            ----
INCOME
  Trading gains (losses)
    Realized                                    $(6,084,944)    $   613,205
    Change in unrealized                          5,045,525        (976,500)
                                                -----------     -----------

          (Loss) from trading                    (1,039,419)       (363,295)

  Interest income                                   459,472         139,649
                                                -----------     -----------

          Total (loss)                             (579,947)       (223,646)
                                                -----------     -----------

EXPENSES
  Brokerage commissions                              14,883           3,805
  General Partner management fee                    294,366          76,246
  Advisor incentive fee                                   0               0
  Operating expenses                                 29,279          14,589
                                                -----------     -----------

          Total expenses                            338,528          94,640
                                                -----------     -----------

          NET (LOSS)                            $  (918,475)    $  (318,286)
                                                ===========     ===========

NET (LOSS) PER GENERAL AND LIMITED PARTNER UNIT
  (based on weighted average number of
  units outstanding during the period of
  21,508.5963 and 7,576.8507, respectively)     $    (42.70)    $    (42.01)
                                                ===========     ===========

INCREASE (DECREASE) IN NET ASSET VALUE PER
  GENERAL AND LIMITED PARTNER UNIT              $    (60.30)    $     74.84
                                                ===========     ===========


                              See accompanying notes.

<TABLE>

                      PROFUTURES LONG/SHORT GROWTH FUND, L.P.
           STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (NET ASSET VALUE)
              For the Nine Months Ended September 30, 1999 and 1998
                                    (Unaudited)
                                   -------------
<CAPTION>


                              Total             Partners' Capital
                            Number of   ----------------------------------
                              Units     General     Limited       Total
                            ----------  --------  -----------  -----------
<S>                         <C>         <C>       <C>          <C>
Balances at
   December 31, 1998        9,772.1661  $116,671  $18,438,300  $18,554,971

Net income for the
  nine months ended
  September 30, 1999                         651      433,457      434,108

Additions                  13,533.8056         0   25,476,715   25,476,715

Redemptions                  (668.4204)        0   (1,256,845)  (1,256,845)
                           -----------  --------  -----------  -----------

Balances at
   September 30, 1999      22,637.5513  $117,322  $43,091,627  $43,208,949
                           ===========  ========  ===========  ===========

Balances at
   December 31, 1997        3,044.2642  $ 29,313  $ 2,885,423  $ 2,914,736

Net income for the
  nine months ended
  September 30, 1998                      12,932      492,621      505,553

Additions                   6,959.8881    36,931    9,422,159    9,459,090

Redemptions                   (79.1017)        0      (90,494)     (90,494)
                           -----------  --------  -----------  -----------

Balances at
   September 30, 1998       9,925.0506  $ 79,176  $12,709,709  $12,788,885
                           ===========  ========  ===========  ===========


Net asset value
 per unit at
  December 31, 1997                       $    957.45
                                          ===========
  September 30, 1998                      $  1,288.55
                                          ===========
  December 31, 1998                       $  1,898.76
                                          ===========
  September 30, 1999                      $  1,908.73
                                          ===========
</TABLE>


                             See accompanying notes.


                     PROFUTURES LONG/SHORT GROWTH FUND, L.P.
                          NOTES TO FINANCIAL STATEMENTS
                                   (Unaudited)
                                   -----------



Note 1.  ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
         -----------------------------------------------------------

     A.  General Description of the Partnership

         ProFutures Long/Short Growth Fund, L.P. (the Partnership) is a
         Delaware limited partnership which operates as a commodity
         investment pool.  The Partnership engages in the speculative
         trading of stock index futures contracts.  It is subject to
         the regulations of the Commodity Futures Trading Commission, an
         agency of the United States (U.S.) government which regulates
         most aspects of the commodity futures industry; rules of the
         National Futures Association, an industry self-regulatory
         organization; and the requirements of commodity exchanges and
         Futures Commission Merchants (brokers) through which the
         Partnership trades.

         The Partnership was organized on August 21, 1997 under the name
         ProFutures Bull & Bear Fund, L.P. and commenced trading on
         November 20, 1997.  On December 8, 1998, the Partnership changed
         its name from ProFutures Bull & Bear Fund, L.P. to ProFutures
         Long/Short Growth Fund, L.P.

     B.  Interim Financial Statements

         In the opinion of management, the unaudited interim financial
         statements reflect all adjustments, which were of a normal and
         recurring nature, necessary for a fair presentation of financial
         position as of September 30, 1999, and the results of operations
         for the nine and three months ended September 30, 1999 and 1998.

     C.  Method of Reporting

         The Partnership's financial statements are presented in accordance
         with generally accepted accounting principles, which require the
         use of certain estimates made by the Partnership's management.
         Transactions are accounted for on the trade date.  Gains or losses
         are realized when contracts are liquidated.  Unrealized gains or
         losses on open contracts (the difference between contract purchase
         price and market price) are reported in the statement of financial
         condition as a net gain or loss, as there exists a right of offset
         of unrealized gains or losses in accordance with Financial
         Accounting Standards Board Interpretation No. 39 - "Offsetting of
         Amounts Related to Certain Contracts."  Any change in net unrealized
         gain or loss from the preceding period is reported in the statement
         of operations.  United States government securities are stated at
         cost plus accrued interest, which approximates market value.

         For purposes of both financial reporting and calculation of
         redemption value, Net Asset Value Per Unit is calculated by dividing
         Net Asset Value by the total number of units outstanding.



                     PROFUTURES LONG/SHORT GROWTH FUND, L.P.
                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)
                                   (Unaudited)
                                   -----------



Note 1.  ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
         (CONTINUED)
         -----------

     D.  Brokerage Commissions

         Brokerage commissions include other trading fees and are charged to
         expense when contracts are opened.

     E.  Income Taxes

         The Partnership prepares calendar year U.S. and state information
         tax returns and reports to the partners their allocable shares of
         the Partnership's income, expenses and trading gains or losses.

     F.  Organizational Charge

         The General Partner pays all organizational and offering costs of
         the Partnership.  As reimbursement for such costs, the General
         Partner (or the Distributor, ProFutures Financial Group, Inc., a
         broker/dealer affiliate of the General Partner) receives an
         organizational charge of 1% of the subscription amount of each
         subscriber to the Partnership.  Additions are reflected in the
         statement of changes in partners' capital (net asset value) net
         of such organizational charge totaling $254,766 for the nine
         months ended September 30, 1999 and $94,591 for the nine months
         ended September 30, 1998.

     G.  Statements of Cash Flows

         The Partnership has elected not to provide statements of cash flows
         as permitted by Statement of Financial Accounting Standards No. 102
         - "Statement of Cash Flows - Exemption of Certain Enterprises and
         Classification of Cash Flows from Certain Securities Acquired for
         Resale."

Note 2.  GENERAL PARTNER
         ---------------

         The General Partner of the Partnership is ProFutures, Inc., which
         conducts and manages the business of the Partnership.  Prior to
         June 1, 1998, the Limited Partnership Agreement required the General
         Partner to maintain a capital account equal to at least 1% of the
         total capital of the Partnership.  Effective June 1, 1998, the
         Limited Partnership Agreement was amended and now requires the
         General Partner and/or its principals and affiliates to maintain
         capital accounts equal to at least 1% of the total capital of the
         Partnership.  At September 30, 1999 and December 31, 1998, the
         capital accounts of the General Partner and/or its principals and
         affiliates totaled $712,947 and $506,005, respectively.

         The Limited Partnership Agreement was further amended effective
         February 16, 1999 and generally requires that the General Partner
         maintain a net worth of at least $1,000,000.  ProFutures, Inc.
         has callable subscription agreements with Internationale
         Nederlanden (U.S.) Securities, Futures & Options, Inc. (ING), the
         Partnership's primary broker, whereby ING has subscribed to
         purchase (up to $14,000,017) the number of shares of common stock
         of ProFutures, Inc. necessary to maintain the General Partner net
         worth requirements.

         The General Partner is paid a monthly management fee equal to 1/4 of
         1% (3% annually) of month-end Net Assets (as defined in the Limited
         Partnership Agreement).



                     PROFUTURES LONG/SHORT GROWTH FUND, L.P.
                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)
                                   (Unaudited)
                                   -----------



Note 3.  COMMODITY TRADING ADVISOR
         -------------------------

         The Partnership has an advisory contract with Hampton Investors,
         Inc. (Hampton), pursuant to which the Partnership pays a quarterly
         incentive fee equal to 20% of New Trading Profits (as defined in the
         advisory contract).

Note 4.  DEPOSITS WITH BROKER
         --------------------

         The Partnership deposits funds with ING to act as broker subject
         to Commodity Futures Trading Commission regulations and various
         exchange and broker requirements.  The Partnership earns interest
         income on its assets deposited with the broker.

         At September 30, 1999, the initial margin requirement of $7,664,063
         is satisfied by the deposit of cash with such broker.  At
         December 31, 1998, the initial margin requirement of $1,586,250 is
         satisfied by the deposit of cash and U.S. government securities with
         such broker.

Note 5.  SUBSCRIPTIONS, DISTRIBUTIONS AND REDEMPTIONS
         --------------------------------------------

         Investments in the Partnership are made by subscription agreement,
         subject to acceptance by the General Partner.

         The Partnership is not required to make distributions, but may do so
         at the sole discretion of the General Partner.  A Limited Partner
         may require the Partnership to redeem any or all of such Limited
         Partner's units at Net Asset Value as of the close of business on
         the last day of any month upon advance written notice to the General
         Partner.  The Limited Partnership Agreement contains a complete
         description of the Partnership's redemption policies and procedures.

Note 6.  TRADING ACTIVITIES AND RELATED RISKS
         ------------------------------------

         The Partnership engages in the speculative trading of stock index
         futures contracts ("derivatives") on U.S. exchanges.  The
         Partnership is exposed to both market risk, the risk arising from
         changes in the market value of the contracts, and credit risk, the
         risk of failure by another party to perform according to the terms
         of a contract.

         Purchase and sale of futures contracts requires margin deposits with
         the broker.  Additional deposits may be necessary for any loss on
         contract value.  The Commodity Exchange Act requires a broker to
         segregate all customer transactions and assets from such broker's
         proprietary activities.  A customer's cash and other property (for
         example, U.S. Treasury bills) deposited with a broker are considered
         commingled with all other customer funds subject to the broker's
         segregation requirements.  In the event of a broker's insolvency,
         recovery may be limited to a pro rata share of segregated funds
         available.  It is possible that the recovered amount could be less
         than total cash and other property deposited.



                     PROFUTURES LONG/SHORT GROWTH FUND, L.P.
                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)
                                   (Unaudited)
                                   -----------



Note 6.  TRADING ACTIVITIES AND RELATED RISKS (CONTINUED)
         ------------------------------------------------

         The Partnership has assets on deposit with financial institutions in
         connection with its cash management activities.  In the event of a
         financial institution's insolvency, recovery of Partnership assets
         on deposit may be limited to account insurance or other protection
         afforded such deposits.  In the normal course of business, the
         Partnership does not require collateral from such financial
         institutions.

         For derivatives, risks arise from changes in the market value of the
         contracts.  Theoretically, the Partnership is exposed to a market
         risk equal to the value of futures contracts purchased and unlimited
         liability on such contracts sold short.

         The fair value of derivatives represents unrealized gains and losses
         on open futures contracts.  The average fair value of derivatives
         during the nine months ended September 30, 1999 and 1998 was
         approximately $38,000 and $340,000, respectively, and the related
         fair values at September 30, 1999 and December 31, 1998 are
         approximately $5,046,000 and $1,163,000, respectively.

         Net trading results from derivatives for the nine and three months
         ended September 30, 1999 and 1998, are reflected in the statement
         of operations and equal gain (loss) from trading less brokerage
         commissions.  Such trading results reflect the net gain (loss)
         arising from the Partnership's speculative trading of futures
         contracts.

         Open contracts generally mature within three months, however, the
         Partnership intends to close all contracts prior to maturity.  At
         September 30, 1999, the maturity date for all open contracts is
         December 1999, and at December 31, 1998, the maturity date for all
         open contracts is March 1999.

         At September 30, 1999, the notional amount of open contracts to sell
         totaled approximately $111,200,000, and there were no open contracts
         to purchase.  At December 31, 1998, the notional amount of open
         contracts to purchase totaled approximately $28,100,000, and there
         were no open contracts to sell.  These amounts do not represent the
         Partnership's risk of loss due to market and credit risk, but rather
         represent the Partnership's extent of involvement in derivatives at
         the date of the statement of financial condition.

         The General Partner has established procedures to actively monitor
         market risk and minimize credit risk, although there can be no
         assurance that it will, in fact, succeed in doing so.  The General
         Partner's basic market risk control procedures consist of
         continuously monitoring Hampton's trading activity with the actual
         market risk controls being applied by Hampton itself. The General
         Partner seeks to minimize credit risk primarily by depositing and
         maintaining the Partnership's assets at financial institutions and
         brokers which the General Partner believes to be creditworthy.  The
         Limited Partners bear the risk of loss only to the extent of the
         market value of their respective investments and, in certain
         specific circumstances, distributions and redemptions received.

Note 7.  Registration of Additional Limited Partnership Units
         ----------------------------------------------------

         In October 1999, the General Partner registered $40,000,000 of
         additional Limited Partnership Units with the Securities and Exchange
         Commission under the Securities Act of 1933.  This registration
         carried forward $35,218,153 of unsold units from the previous
         registration; therefore, available unsold Limited Partnership Units
         as of the effective date of the registration will total $75,218,153.



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

     A.   LIQUIDITY:  Substantially all of the Partnership's assets are
          highly liquid, such as cash or cash equivalents, open futures
          contracts and other financial instruments.  It is possible that
          extreme market conditions or daily price fluctuation limits at
          exchanges could adversely affect the liquidity of open futures
          contracts.

     B.   CAPITAL RESOURCES:  Since the Partnership's business is purchase
          and sale of futures contracts, it will make few, if any, capital
          expenditures.  In October 1999, the General Partner registered
          $40,000,000 of additional Limited Partnership Units with the
          Securities and Exchange Commission under the Securities Act of 1933.
          This registration carried forward $35,218,153 of unsold units from
          the previous registration; therefore, available unsold Limited
          Partnership Units as of the effective date of the registration
          will total $75,218,153.

          As of September 30, 1999, 22,637.5513 Units are outstanding,
          including 61.4461 General Partner Units, with an aggregate Net
          Asset Value of $43,208,949 ($1,908.73 per Unit).  This represents
          an increase in Net Asset Value of $24,653,978 compared with
          December 31, 1998.  The increase primarily relates to sales of
          limited partnership interests.

     C.   RESULTS OF OPERATIONS:  For the three months ended September 30,
          1999, the Partnership had a net loss of $918,475, as compared to
          a net loss of $318,286 for the three months ended September 30,
          1998.  For the nine months ended September 30, 1999, the Partnership
          had net income of $434,108, as compared to net income of $505,553
          for the nine months ended September 30, 1998.  The Partnership
          engages in the speculative trading of stock index futures contracts
          on U.S. exchanges; therefore, operating results will fluctuate from
          period to period.

          The General Partner has established procedures to actively
          monitor market risk and minimize credit risk, although there can
          be no assurance that it will, in fact, succeed in doing so.  The
          General Partner's basic market risk control procedures consist of
          continuously monitoring the Advisor's trading activity with the
          actual market risk controls being applied by the Advisor itself.
          The General Partner seeks to minimize credit risk primarily by
          depositing and maintaining the Partnership's assets at financial
          institutions and brokers which the General Partner believes to be
          creditworthy.

     D.   POSSIBLE CHANGES:  The General Partner reserves the right to
          terminate certain and/or engage additional trading advisors or
          change any of the Partnership's clearing arrangements.

     E.   The Year 2000 Problem
          ---------------------

          Many existing computer systems use only two digits to refer to a
          year.  This technique can cause the systems to treat the year 2000
          as 1900, an effect commonly known as the "Year 2000 Problem."  The
          Partnership, like other financial and business organizations, depends
          on the smooth functioning of computer systems and could be adversely
          affected if the computer systems on which it relies do not properly
          process and calculate date-related information concerning dates on or
          after January 1, 2000.

          The General Partner administers the business of the Partnership
          through various systems and processes maintained by the General
          Partner.  The General Partner's modifications for Year 2000 systems
          compliance were substantially complete as of September 30, 1999.
          Additional testing is scheduled to take place during the remainder of
          1999.  Costs of this testing were included in previously approved
          budgets of the General Partner and future Year 2000 expenses are
          expected to be negligible.  These expenditures are not expected to
          have a material adverse impact on the General Partner's financial
          position, results of operations or cash flows in future periods.  The
          General Partner has and will continue to devote the necessary
          resources to address any remaining Year 2000 issues in a timely
          manner.  The Partnership itself has no systems or information
          technology applications relevant to its operations and, thus has no
          expenses related to addressing the Year 2000 Problem

          In addition to the General Partner, the Partnership is dependent on
          the capability of the Advisor, the Chicago Mercantile Exchange, the
          Futures Broker and other third parties with whom the Partnership has
          material relationships to prepare adequately for the Year 2000
          Problem and its impact on their systems and processes.  The General
          Partner will monitor the Partnership's direct service providers, and
          may, where deemed appropriate, seek assurances from such service
          providers that they are taking all necessary steps to ensure that
          their computer systems will accurately reflect the Year 2000.  No
          assurance can be given that the service providers have anticipated
          every step necessary to avoid any adverse effect attributable to the
          Year 2000 Problem, and there can be no assurance that the General
          Partner has anticipated every step necessary to avoid any adverse
          effect on the Partnership attributable to the Year 2000 issue.  The
          failure of the Partnership's futures exchanges, clearing
          organizations, venders or regulators to resolve their own processing
          issues in a timely manner could result in a material financial risk.

          The Advisor has taken action to identify any of its computer systems
          that are Year 2000 vulnerable and has, to date, found none.  The
          Advisor will notify the General Partner in a timely manner if it
          should discover a Year 2000 vulnerable system it is unable to correct
          by January 1, 2000.  The Chicago Mercantile Exchange has successfully
          completed four industry-wide tests in conjunction with the Futures
          Industry Association.  These tests revealed no problems related to
          the Year 2000 Problem for the Chicago Mercantile Exchange.  The
          Futures Broker is addressing its Year 2000 issues and has
          participated in Year 2000 testing with various exchanges.  The
          Futures Broker participated in the Futures Industry Association Y2K
          industry-wide test for Year 2000 compliance during the first and
          second quarters of 1999.  The General Partner is monitoring the
          progress of the Futures Broker and the Chicago Mercantile Exchange
          in addressing their Year 2000 issues.

          The most likely and most significant risk to the Partnership
          associated with the lack of Year 2000 readiness is the failure of
          third parties, including the Advisor, the Futures Broker, the Chicago
          Mercantile Exchange and various regulators to resolve their Year 2000
          issues in a timely manner.  This risk could involve the temporary
          inability to transfer funds electronically or to determine the Net
          Asset Value of the Partnership, in which case sales could be
          suspended and/or redemption payments delayed until the Partnership's
          assets could be valued and/or funds could be transferred.  If the
          General Partner believes, prior to December 31, 1999, that any of the
          Advisor, the Futures Broker or the Chicago Mercantile Exchange has
          failed to resolve a Year 2000 issue likely to have a material adverse
          impact on the Partnership, the General Partner will direct the
          Advisor to attempt to close any Partnership positions and to remain
          out of the market until such issue is resolved.



PART II - OTHER INFORMATION


Item 1.   Legal Proceedings.

          None.

Item 2.   Changes in Securities.

          The General Partner registered $60,000,000 of additional Limited
          Partnership Units with the Securities and Exchange Commission
          under the Securities Act of 1933.  The Registration Statement
          on Form S-1 became effective February 16, 1999.  The offering
          commenced immediately following the effective date of the
          Registration Statement.  The proceeds from the sale of 13,534
          Limited Partnership Units totaled $25,476,715 through September 30,
          1999 and are available to support the Partnership trading
          activity.  The offering of Limited Partnership Units is
          continuing.  The General Partner pays all offering costs and
          receives 1% of the subscription price of each unit as
          reimbursement.  Such reimbursement of offering costs totaled
          $254,766 through September 30, 1999.  In October 1999, the General
          Partner registered $40,000,000 of additional Limited Partnership
          Units with the Securities and Exchange Commission under the
          Securities Act of 1933.  This registration carried forward
          $35,218,153 of unsold units from the previous registration;
          therefore, available unsold Limited Partnership Units as of the
          effective date of the registration will total $75,218,153.



Item 3.   Defaults Upon Senior Securities.

          Not Applicable.

Item 4.   Submission of Matters to a Vote of Security Holders.

          None.

Item 5.   Other Information.

          None.

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

          There were no reports filed on Form 8-K.

          Exhibits filed herewith:

          None.



SIGNATURES


Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, the Partnership has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.



                            PROFUTURES LONG/SHORTH GROWTH FUND, L.P.
                            (Partnership)


                            By /s/ Gary D. Halbert
                              ---------------------------------
                              Gary D. Halbert, President
                              ProFutures, Inc., General Partner