<PAGE>
                                  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      September 30, 2001
                               -------------------------------------------------

                                      or

[ ]     TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
        EXCHANGE ACT OF 1934

For the transition period from ____________________to________________________

Commission File number:           0-22260
                          ------------------------------------------------------



                    CAMPBELL STRATEGIC ALLOCATION FUND, L.P.
--------------------------------------------------------------------------------
               (Exact name of registrant as specified in charter)


<TABLE>
<S>                                                 <C>
                Delaware                                                52-1823554
------------------------------------------          ----------------------------------------------
         (State of Organization)                          (IRS Employer Identification Number)

Court Towers Building
210 West Pennsylvania Avenue
Baltimore, Maryland                                                        21204
------------------------------------------          ----------------------------------------------
(Address of principal executive offices)                                (Zip Code)

 (410) 296-3301
--------------------------------------------------------
(Registrant's telephone number, including area code)
</TABLE>

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, and (2) has been subject to such filing requirements
for the past 90 days.

                                Yes [X]     No [ ]

                            Total number of Pages: 23
                                                   --

<PAGE>


                         PART I - FINANCIAL INFORMATION


Item 1.         Financial Statements

The following unaudited financial statements of Campbell Strategic Allocation
Fund, L.P. are included in Item 1:

        Statements of Financial Condition as of September 30, 2001 and
            December 31, 2000

        Statements of Operations for the Three Months and
            Nine Months Ended September 30, 2001 and 2000

        Statements of Cash Flows for the Nine Months Ended
            September 30, 2001 and 2000

        Statements of Changes in Partners' Capital for the Nine Months Ended
            September 30, 2001 and 2000


                                       2
<PAGE>


                    CAMPBELL STRATEGIC ALLOCATION FUND, L.P.
                        STATEMENTS OF FINANCIAL CONDITION
         September 30, 2001 (Unaudited) and December 31, 2000 (Audited)

                                   ----------

<TABLE>
<CAPTION>
                                                       September 30,     December 31,
                                                           2001              2000
                                                           ----              ----
<S>                                                    <C>              <C>
ASSETS
    Equity in broker trading accounts
        Cash                                           $  63,855,243    $  46,527,143
        United States government securities              448,657,771      318,819,970
        Unrealized gain on open futures contracts         20,949,091       24,297,352
                                                       -------------    -------------

                Deposits with broker                     533,462,105      389,644,465

    Cash and cash equivalents                            129,942,823       87,655,535
    United States government securities                  220,893,232      163,798,866
    Unrealized gain (loss) on open swap contracts            (66,240)       5,341,674
    Unrealized gain (loss) on open forward contracts      42,705,423       (1,247,873)
                                                       -------------    -------------

                Total assets                           $ 926,937,343    $ 645,192,667
                                                       =============    =============

LIABILITIES
    Accounts payable                                   $     281,264    $     330,386
    Payable for United States government
        securities purchased                              49,748,000                0
    Brokerage fee                                          5,250,189        3,998,772
    Performance fee                                                0        4,180,241
    Offering costs payable                                   406,458          299,500
    Redemptions payable                                   16,631,417        5,631,710
    Subscription deposits                                          0          127,046
                                                       -------------    -------------


                Total liabilities                         72,317,328       14,567,655
                                                       -------------    -------------

PARTNERS' CAPITAL (NET ASSET VALUE)
    General Partner - 4,284.700 and 3,306.761 units
        outstanding at September 30, 2001 and
        December 31, 2000                                  8,673,347        6,351,669
    Limited Partners - 417,904.076 and 325,004.757
        units outstanding at September 30, 2001 and
        December 31, 2000                                845,946,668      624,273,343
                                                       -------------    -------------

                Total partners' capital
                   (Net Asset Value)                     854,620,015      630,625,012
                                                       -------------    -------------

                                                       $ 926,937,343    $ 645,192,667
                                                       =============    =============
</TABLE>

                             See accompanying notes.


                                       3
<PAGE>


                    CAMPBELL STRATEGIC ALLOCATION FUND, L.P.
                            STATEMENTS OF OPERATIONS
           For the Three Months Ended September 30, 2001 and 2000 and
             For the Nine Months Ended September 30, 2001 and 2000
                                   (Unaudited)

                                   ----------

<TABLE>
<CAPTION>
                                                          Three Months Ended               Nine Months Ended
                                                             September 30,                   September 30,
                                                       2001             2000             2001             2000
                                                       ----             ----             ----             ----
<S>                                                <C>              <C>              <C>              <C>
INCOME
    Futures trading gains (losses)
        Realized                                   $  60,756,888    $  23,738,500    $ 115,105,711    $  37,898,040
        Change in unrealized                          18,697,265      (30,545,102)      (3,348,261)     (33,307,951)
                                                   -------------    -------------    -------------    -------------

                Gain (loss) from futures trading      79,454,153       (6,806,602)     111,757,450        4,590,089
                                                   -------------    -------------    -------------    -------------

    Forward and swap trading gains (losses)
        Realized                                     (29,481,705)       5,668,380      (74,429,288)      16,685,304
        Change in unrealized                          37,080,174      (11,988,621)      38,545,382      (14,773,538)
                                                   -------------    -------------    -------------    -------------

                Gain (loss) from forward and
                swap trading                           7,598,469       (6,320,241)     (35,883,906)       1,911,766
                                                   -------------    -------------    -------------    -------------

    Interest income                                    6,733,295        7,949,985       22,872,529       21,605,596
                                                   -------------    -------------    -------------    -------------

                Total income (loss)                   93,785,917       (5,176,858)      98,746,073       28,107,451
                                                   -------------    -------------    -------------    -------------

EXPENSES
    Brokerage fee                                     15,237,955       10,176,831       40,987,554       29,551,365
    Performance fee                                            0                0        7,354,533           27,869
    Operating expenses                                   273,616          276,426          781,174          799,946
                                                   -------------    -------------    -------------    -------------

                Total expenses                        15,511,571       10,453,257       49,123,261       30,379,180
                                                   -------------    -------------    -------------    -------------

                NET INCOME (LOSS)                  $  78,274,346    $ (15,630,115)   $  49,622,812    $  (2,271,729)
                                                   =============    =============    =============    =============

NET INCOME (LOSS) PER GENERAL
AND LIMITED PARTNER UNIT
    (based on weighted average number of
    units outstanding during the period)           $      188.56    $      (51.83)   $      131.78    $       (7.83)
                                                   =============    =============    =============    =============

INCREASE (DECREASE) IN NET
    ASSET VALUE PER GENERAL
    AND LIMITED PARTNER UNIT                       $      183.60    $      (54.07)   $      103.45    $      (13.24)
                                                   =============    =============    =============    =============
</TABLE>

                             See accompanying notes.


                                       4
<PAGE>

                    CAMPBELL STRATEGIC ALLOCATION FUND, L.P.
                            STATEMENTS OF CASH FLOWS
              For the Nine Months Ended September 30, 2001 and 2000
                                   (Unaudited)

                                   ----------


<TABLE>
<CAPTION>
                                                                 Nine Months Ended
                                                                   September 30,
                                                               2001              2000
                                                               ----              ----
<S>                                                        <C>              <C>
CASH FLOWS FROM (FOR) OPERATING ACTIVITIES
    Net income (loss)                                      $  49,622,812    $  (2,271,729)
    Adjustments to reconcile net income (loss) to
    net cash (for) operating activities
        Net change in unrealized                             (35,197,121)      48,081,489
        Increase (decrease) in accounts payable and
            accrued expenses                                  (2,977,946)         289,186
        Net (purchases) of investments in United States
            government securities                           (186,932,167)     (54,771,321)
        Increase in payable for United States government
            securities purchased                              49,748,000                0
                                                           -------------    -------------


                Net cash (for) operating activities         (125,736,422)      (8,672,375)
                                                           -------------    -------------

CASH FLOWS FROM (FOR) FINANCING ACTIVITIES
    Addition of units                                        224,566,649      112,657,998
    (Decrease) in subscription deposits                         (127,046)        (107,295)
    Redemption of units                                      (46,952,040)     (51,878,391)
    Increase (decrease) in redemptions payable                10,999,707       (4,202,408)
    Offering costs charged                                    (3,242,418)      (2,510,337)
    Increase in offering costs payable                           106,958           25,391
                                                           -------------    -------------

                Net cash from financing activities           185,351,810       53,984,958
                                                           -------------    -------------

Net increase in cash and cash equivalents                     59,615,388       45,312,583

CASH AND CASH EQUIVALENTS
    Beginning of period                                      134,182,678       88,164,302
                                                           -------------    -------------

    End of period                                          $ 193,798,066    $ 133,476,885
                                                           =============    =============

End of period cash and cash equivalents consists of:
    Cash in broker trading accounts                        $  63,855,243    $  50,579,162
    Cash and cash equivalents                                129,942,823       82,897,723
                                                           -------------    -------------

        Total end of period cash and cash equivalents      $ 193,798,066    $ 133,476,885
                                                           =============    =============
</TABLE>

                             See accompanying notes.


                                       5
<PAGE>


                    CAMPBELL STRATEGIC ALLOCATION FUND, L.P.
          STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (NET ASSET VALUE)
              For the Nine Months Ended September 30, 2001 and 2000
                                   (Unaudited)

                                   ----------

<TABLE>
<CAPTION>
                                                                           Partners' Capital
                                          ----------------------------------------------------------------------------------------
                                                  General                       Limited                          Total
                                          ------------------------    ----------------------------    ----------------------------
                                            Units         Amount         Units           Amount          Units           Amount
                                            -----         ------         -----           ------          -----           ------
<S>                                       <C>           <C>           <C>             <C>             <C>             <C>
NINE MONTHS ENDED SEPTEMBER 30, 2001

Balances at
    December 31, 2000                     3,306.761     $6,351,669    325,004.757     $624,273,343    328,311.518     $630,625,012

Net income for the nine months
    ended September 30, 2001                               504,634                      49,118,178                      49,622,812

Additions                                   977.939      1,849,800    117,034.623      222,716,849    118,012.562      224,566,649

Redemptions                                   0.000              0    (24,135.304)     (46,952,040)   (24,135.304)     (46,952,040)

Offering costs                                             (32,756)                     (3,209,662)                     (3,242,418)
                                          ---------     ----------    -----------     ------------    -----------     ------------

Balances at
    September 30, 2001                    4,284.700     $8,673,347    417,904.076     $845,946,668    422,188.776     $854,620,015
                                          =========     ==========    ===========     ============   ============     ============

NINE MONTHS ENDED SEPTEMBER 30, 2000

Balances at
    December 31, 1999                     2,904.862     $5,040,488    276,039.045     $478,979,616    278,943.907     $484,020,104

Net (loss) for the nine months
    ended September 30, 2000                               (30,382)                     (2,241,347)                     (2,271,729)

Additions                                   296.710        530,000     63,896.789      112,127,998     64,193.499      112,657,998

Redemptions                                   0.000              0    (29,529.216)     (51,878,391)   (29,529.216)     (51,878,391)

Offering costs                                            (27,159)                      (2,483,178)                     (2,510,337)
                                          ---------     ----------    -----------     ------------    -----------     ------------

Balances at
    September 30, 2000                    3,201.572     $5,512,947    310,406.618     $534,504,698    313,608.190     $540,017,645
                                          =========     ==========    ===========     ============    ===========     ============
</TABLE>


<TABLE>
<CAPTION>
                         Net Asset Value Per General and Limited Partner Unit
                --------------------------------------------------------------------------
                September 30,       December 31,         September 30,        December 31,
                    2001                2000                 2000                 1999
                    ----                ----                 ----                 ----
                <S>                 <C>                  <C>                  <C>
                  $2,024.26           $1,920.81            $1,721.95            $1,735.19
                  =========           =========            =========            =========
</TABLE>

                             See accompanying notes.


                                       6
<PAGE>


                    CAMPBELL STRATEGIC ALLOCATION FUND, L.P.
                         NOTES TO FINANCIAL STATEMENTS
                                  (Unaudited)

                                   ----------

Note 1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

        A.      General Description of the Fund

                Campbell Strategic Allocation Fund, L.P. (the Fund) is a
                Delaware limited partnership which operates as a commodity
                investment pool. The Fund engages in the speculative trading of
                futures contracts, forward contracts and swap contracts.

        B.      Regulation

                As a registrant with the Securities and Exchange Commission, the
                Fund is subject to the regulatory requirements under the
                Securities Act of 1933 and the Securities Exchange Act of 1934.
                As a commodity investment pool, the Fund 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 the various commodity
                exchanges where the Fund executes transactions. Additionally,
                the Fund is subject to the requirements of futures commission
                merchants (brokers) and interbank and other market makers
                through which the Fund trades.

        C.      Method of Reporting

                The Fund's financial statements are presented in accordance with
                accounting principles generally accepted in the United States of
                America, which require the use of certain estimates made by the
                Fund's management. Transactions are accounted for on the trade
                date. Gains or losses are realized when contracts are
                liquidated. Unrealized gains and losses on open contracts (the
                difference between contract trade 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. Brokerage commissions and other trading fees paid
                directly to the broker are included in "brokerage fee" and are
                charged to expense when contracts are opened. 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 number of outstanding units.

        D.      Cash and Cash Equivalents

                Cash and cash equivalents includes cash and short-term time
                deposits held at financial institutions.

        E.      Income Taxes

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


                                       7
<PAGE>


                    CAMPBELL STRATEGIC ALLOCATION FUND, L.P.
                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)
                                   (Unaudited)

                                   ----------

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

        F.      Offering Costs

                Campbell & Company, Inc. (Campbell & Company) has incurred total
                costs in connection with the initial and continuous offering of
                units of the Fund (offering costs) of $19,583,089 through
                September 30, 2001, $13,271,441 of which has already been
                reimbursed to Campbell & Company by the Fund. At September 30,
                2001, the Fund reflects a liability in the statement of
                financial condition for offering costs payable to Campbell &
                Company of $406,458. The Fund's liability for offering costs is
                limited to the maximum of total offering costs incurred by
                Campbell & Company or 2.5% of the aggregate subscriptions
                accepted during the initial and continuous offerings; this
                maximum is further limited by 30 month pay-out schedules. The
                Fund is only liable for payment of offering costs on a monthly
                basis as calculated based on the limitations stated above. If
                the Fund terminates prior to completion of payment of the
                calculated amounts to Campbell & Company, Campbell & Company
                will not be entitled to any additional payments, and the Fund
                will have no further obligation to Campbell & Company.

                The amount of monthly reimbursement due to Campbell & Company is
                charged directly to partners' capital.

        G.      Foreign Currency Transactions

                The Fund's functional currency is the U.S. dollar; however, it
                transacts business in currencies other than the U.S. dollar.
                Assets and liabilities denominated in currencies other than the
                U.S. dollar are translated into U.S. dollars at the rates in
                effect at the date of the statement of financial condition.
                Income and expense items denominated in currencies other than
                the U.S. dollar are translated into U.S. dollars at the rates in
                effect during the period. Gains and losses resulting from the
                translation to U.S. dollars are reported in income currently.

Note 2. GENERAL PARTNER AND COMMODITY TRADING ADVISOR

        The general partner of the Fund is Campbell & Company, which conducts
        and manages the business of the Fund. Campbell & Company is also the
        commodity trading advisor of the Fund. The Amended Agreement of Limited
        Partnership provides that Campbell & Company may make withdrawals of its
        units, provided that such withdrawals do not reduce Campbell & Company's
        aggregate percentage interest in the Fund to less than 1% of the net
        aggregate contributions.

        Campbell & Company is required by the Amended Agreement of Limited
        Partnership to maintain a net worth equal to at least 5% of the capital
        contributed by all the limited partnerships for which it acts as general
        partner, including the Fund. The minimum net worth shall in no case be
        less than $50,000 nor shall net worth in excess of $1,000,000 be
        required.


                                       8
<PAGE>


                    CAMPBELL STRATEGIC ALLOCATION FUND, L.P.
                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)
                                   (Unaudited)

                                   ----------

Note 2. GENERAL PARTNER AND COMMODITY TRADING ADVISOR (CONTINUED)

        Commencing January 1, 2001, the Fund pays a monthly brokerage fee equal
        to 1/12 of 7% (7% annualized) of month-end net assets to Campbell &
        Company and $10 per round turn to the broker for execution and clearing
        costs. From the 7% fee, a portion (4%) is used to compensate selling
        agents for ongoing services rendered and a portion (3%) is retained by
        Campbell & Company for trading and management services rendered. The
        amount paid to the broker for execution and clearing costs is limited to
        1/12 of 1% (1% annualized) of month-end net assets. From August 1, 2000
        through December 31, 2000, the monthly brokerage fee was equal to 1/12
        of 7.65% (7.65% annualized) of month-end net assets, with the broker
        directly receiving an amount equal to 1/12 of 0.65% (0.65% annualized)
        of month-end net assets. Prior to August 1, 2000, the monthly brokerage
        fee was equal to 1/12 of 7.7% (7.7% annualized) of month-end net assets,
        with the amount paid directly to the broker equal to 1/12 of 0.7% (0.7%
        annualized) of month-end net assets. During the nine months ended
        September 30, 2001 and 2000, the amounts paid directly to the broker
        amounted to $2,402,956 and $2,645,711, respectively. During the three
        months ended September 30, 2001 and 2000, the amounts paid directly to
        the broker amounted to $948,322 and $884,390, respectively.

        Campbell & Company is also paid a quarterly performance fee of 20% of
        the Fund's aggregate cumulative appreciation in the Net Asset Value per
        unit, exclusive of appreciation attributable to interest income.

Note 3. DEPOSITS WITH BROKER

        The Fund deposits assets with a broker subject to Commodity Futures
        Trading Commission regulations and various exchange and broker
        requirements. Margin requirements are satisfied by the deposit of U.S.
        Treasury bills and cash with such broker. The Fund earns interest income
        on its assets deposited with the broker.

Note 4. OPERATING EXPENSES

        Operating expenses of the Fund are limited by the Amended Agreement of
        Limited Partnership to 0.5% per year of the average month-end Net Asset
        Value of the Fund. Actual operating expenses were less than 0.5%
        (annualized) of average month-end Net Asset Value for the three months
        and nine months ended September 30, 2001 and 2000.

Note 5. SUBSCRIPTIONS, DISTRIBUTIONS AND REDEMPTIONS

        Investments in the Fund are made by subscription agreement, subject to
        acceptance by Campbell & Company. As of September 30, 2001 and December
        31, 2000, amounts received by the Fund from prospective limited partners
        who have not yet been admitted to the Fund by Campbell & Company total
        $0 and $127,046, respectively.


                                       9
<PAGE>


                    CAMPBELL STRATEGIC ALLOCATION FUND, L.P.
                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)
                                   (Unaudited)

                                   ----------

Note 5. SUBSCRIPTIONS, DISTRIBUTIONS AND REDEMPTIONS (CONTINUED)

        The Fund is not required to make distributions, but may do so at the
        sole discretion of Campbell & Company. A limited partner may request and
        receive redemption of units owned, subject to restrictions in the
        Amended Agreement of Limited Partnership. Redemption fees apply through
        the first twelve month-ends following purchase as follows: 4% of Net
        Asset Value per unit redeemed through the third month-end, 3% of Net
        Asset Value per unit redeemed through the sixth month-end, 2% of Net
        Asset Value per unit redeemed through the ninth month-end and 1% of Net
        Asset Value per unit redeemed through the twelfth month-end. After the
        twelfth month-end following purchase of a unit, no redemption fees
        apply.

Note 6. TRADING ACTIVITIES AND RELATED RISKS

        The Fund engages in the speculative trading of U.S. and foreign futures
        contracts, forward contracts and swap contracts (collectively,
        "derivatives"). The Fund 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.

        The amount of required margin and good faith deposits with the broker
        and interbank and other market makers usually range from 10% to 30% of
        Net Asset Value. The market value of securities held to satisfy such
        requirements at September 30, 2001 and December 31, 2000 was
        $669,551,003 and $482,618,836, respectively, which equals 78% and 77% of
        Net Asset Value, respectively.

        The Fund trades forward and swap contracts in unregulated markets
        between principals and assumes the risk of loss from counterparty
        nonperformance. Accordingly, the risks associated with forward and swap
        contracts are generally greater than those associated with exchange
        traded contracts because of the greater risk of counterparty default.
        Additionally, the trading of forward and swap contracts typically
        involves delayed cash settlement.

        The Fund has a substantial portion of its assets on deposit with
        financial institutions. In the event of a financial institution's
        insolvency, recovery of Fund assets on deposit may be limited to account
        insurance or other protection afforded such deposits.

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


                                       10
<PAGE>


                   CAMPBELL STRATEGIC ALLOCATION FUND, L.P.
                  NOTES TO FINANCIAL STATEMENTS (CONTINUED)
                                 (Unaudited)


Note 6.  TRADING ACTIVITIES AND RELATED RISKS (CONTINUED)

         The unrealized gain (loss) on open futures, forward and swap
         contracts is comprised of the following:

<TABLE>
<CAPTION>
                                          Futures Contracts         Forward and Swap Contracts
                                          (exchange traded)            (non-exchange traded)
                                     September 30,  December 31,   September 30,   December 31,
                                         2001           2000           2001            2000
                                         ----           ----           ----            ----
<S>                                  <C>           <C>              <C>          <C>
             Gross unrealized gains   $28,999,525    $ 30,981,485    $90,108,866   $ 47,234,539
             Gross unrealized losses   (8,050,434)     (6,684,133)   (47,469,683)   (43,140,738)
                                      -----------    ------------    -----------  -------------
             Net unrealized gain      $20,949,091    $ 24,297,352    $42,639,183   $  4,093,801
                                      ===========    ============    ===========  =============
</TABLE>

         Open contracts generally mature within six months; as of September
         30, 2001, the latest maturity date for open futures contracts is June
         2002, and the latest maturity date for open forward and swap
         contracts is December 2001. However, the Fund intends to close all
         contracts prior to maturity.

         Campbell & Company 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. Campbell &
         Company's basic market risk control procedures consist of
         continuously monitoring open positions, diversification of the
         portfolio and maintenance of a margin-to-equity ratio that rarely
         exceeds 30%. Campbell & Company seeks to minimize credit risk
         primarily by depositing and maintaining the Fund's assets at
         financial institutions and brokers which Campbell & Company 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.  INTERIM FINANCIAL STATEMENTS

         The statement of financial condition as of September 30, 2001, the
         statements of operations for the three months and nine months ended
         September 30, 2001 and 2000, and the statements of cash flows and
         changes in partners' capital (Net Asset Value) for the nine months
         ended September 30, 2001 and 2000 are unaudited. In the opinion of
         management, such 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, 2001, and the
         results of operations for the three months and nine months ended
         September 30, 2001 and 2000, and cash flows for the nine months ended
         September 30, 2001 and 2000.



                                      11
<PAGE>



                   CAMPBELL STRATEGIC ALLOCATION FUND, L.P.
                  NOTES TO FINANCIAL STATEMENTS (CONTINUED)
                                 (Unaudited)




Note 8.  FINANCIAL HIGHLIGHTS

         The following information contains per unit operating performance
         data for a unit outstanding during the entire three months and nine
         months ended September 30, 2001, and other supplemental financial
         data. This information has been derived from information presented in
         the financial statements.

<TABLE>
<CAPTION>
                                                             Three months ended    Nine months ended
                                                             September 30, 2001    September 30, 2001
                                                                 (Unaudited)          (Unaudited)
                                                                 -----------          -----------

         PER UNIT PERFORMANCE
         (for a unit outstanding throughout the entire period)
         -----------------------------------------------------
<S>                                                           <C>                <C>
         Net asset value per unit at June 30, 2001 and
             December 31, 2000, respectively                      $1,840.66             $1,920.81
                                                                  ---------             ---------

         Gain (loss) from operations:
               Net investment income *                               (18.86)               (63.33)
               Net realized and change in unrealized
                   gain from trading **                              205.40                175.39
                                                                  ---------             ----------

                    Total gain from operations                       186.54                112.06
                                                                  ---------             ----------

         Offering costs                                               (2.94)                (8.61)
                                                                  ----------            ----------

         Net asset value per unit at September 30, 2001           $2,024.26             $2,024.26
                                                                  =========             ==========

         TOTAL RETURN ***                                            9.97%                  5.39%


         SUPPLEMENTAL DATA

         Ratio to average net assets:
               Expenses *, +                                         7.52%                  8.72%
               Net investment income *, +                          (4.04)%                (4.45)%
</TABLE>

         --------------------
         *     Excludes brokerage commissions and other trading fees paid
               directly to the broker.

         **    Includes brokerage commissions and other trading fees paid
               directly to the broker.

         ***   Not annualized
         +     Annualized





                                      12
<PAGE>

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

Introduction

The offering of Campbell Strategic Allocation Fund's (the "Fund") Units of
Limited Partnership Interest commenced on January 12, 1994, and the initial
offering terminated on April 15, 1994 with proceeds of $9,692,439. The
continuing offering period commenced immediately after the termination of the
initial offering period; additional subscriptions totaling $850,041,554 have
been accepted during the continuing offering period as of September 30, 2001.
Redemptions over the same time period total $211,229,019. The Fund commenced
operations on April 18, 1994.

Capital Resources

The Fund will raise additional capital only through the sale of Units offered
pursuant to the continuing offering, and does not intend to raise any capital
through borrowing. Due to the nature of the Fund's business, it will make no
capital expenditures and will have no capital assets which are not operating
capital or assets.

Liquidity

Most United States commodity exchanges limit fluctuations in commodity futures
contracts prices during a single day by regulations referred to as "daily
price fluctuation limits" or "daily limits". During a single trading day, no
trades may be executed at prices beyond the daily limit. Once the price of a
futures contract has reached the daily limit for that day, positions in that
contract can neither be taken nor liquidated. Commodity futures prices have
occasionally moved to the daily limit for several consecutive days with little
or no trading. Similar occurrences could prevent the Fund from promptly
liquidating unfavorable positions and subject the Fund to substantial losses
which could exceed the margin initially committed to such trades. In addition,
even if commodity futures prices have not moved the daily limit, the Fund may
not be able to execute futures trades at favorable prices, if little trading
in such contracts is taking place. Other than these limitations on liquidity,
which are inherent in the Fund's commodity futures trading operations, the
Fund's assets are expected to be highly liquid.

Results of Operations

The returns for the nine months ending September 30, 2001 and 2000 were 5.39%
and (.76%), respectively. Of the 5.39% increase, approximately 9.59% was due
to trading gains (before commissions) and approximately 3.20% was due to
interest income offset by approximately 7.40% due to brokerage fees,
performance fees, operating and offering costs borne by the Fund. An analysis
of the 9.59% trading gain by sector is as follows:




SECTOR                                                  % GAIN (LOSS)
------                                                  -------------

Interest Rates                                             10.33%

Stock Indices                                               3.77

Currencies                                                  3.69

Metals                                                       .10

Energy                                                     (8.30)
                                                          ------

                                                            9.59%
                                                          =======

                                      13
<PAGE>




January was a turbulent month due to the underestimated slowdown of the U.S.
economy and difficult transition between presidential administrations. The
Federal Reserve intervened twice by lowering interest rates during the month a
total of 100 basis points. The interest rate reductions resulted in gains in
the Fund's long bond positions, but these were offset by losses in its Swiss
and Sterling currency positions. The most noticeable turnaround for the month
were the energy markets, which incurred the largest losses for the Fund.
Overall, February was a mostly flat month for the Fund. The Federal Reserve's
failure to lower interest rates ahead of its March meeting and the continued
declining consumer confidence pushed U.S. equities lower, with the NASDAQ
posting a new two year low. This economic news was favorable to both the
Fund's short equities positions and long bond positions. The energy markets
continued to disappoint and this sector posted a loss for the month. The
currency markets were mixed and ended flat for February. The first quarter
ended well for the Fund. During the month of March, all markets were
profitable, except the energy sector. In the midst of some painful trends in
the global economy, the Fund's trading principles enabled it to ride the bear
trend in equities while simultaneously benefiting from long fixed income
positions.

Sharp price reversals in the equity, bond and energy markets resulted in a
negative performance in April as many of the Fund's largest positions hit
protective stops. The capitulation that caused the sharp downturn in equities
in the first quarter was reversed as investors greeted a surprise 50 basis
point rate cut by the Federal Reserve by pushing the equity markets
substantially higher. The flight to quality that had caused the long bond to
trade so strongly in March was abandoned as investors sold bonds to invest in
stocks. May was a volatile month for many of the markets the Fund trades, but
the Fund produced a positive result despite the adverse conditions. A strong
U.S. dollar amid persistent signs of global economic weakness kept equity
markets volatile, but the widely anticipated 50-point rate cut by the Federal
Reserve was priced into the markets and had little effect when announced. The
Fund made small profits in energy and interest rates and small losses in
global stock indices and currency positions. Uncertainty has plagued the
global markets for the last few months, and there has not been an emergence of
a solid trend to give investors and economists any meaningful indication of
what the second half of 2001 holds. This lack of market direction held the
Fund's performance relatively flat for the month of June and for the first
half of the year. In June, the Fund was profitable in the global equity
indices and currency markets while the fixed income and energy markets erased
all of those gains.

Most of the major U.S. stock and bond exchanges were negative while the Fund
posted a positive month to start the third quarter. The ability to short
global equity markets made stock indices the best performing sector for the
month of July. Short-term interest rates were also positive; however, this was
mostly offset by losses in the Japanese bond markets, which have come under
pressure from fiscal instability and uncertainty in Japan. Foreign exchange
was down slightly on global concerns about the future of the U.S. "strong
dollar" policy. August was another positive month for the Fund. The Fund
profited from currency cross rates, long and short-term interest rates and
equities. The losing sector was primarily the energy sector. September was a
difficult month for most Americans and for many others whose lives will
forever be impacted by the terrorist attacks of September 11th. However,
despite the tumult, the Fund reported a positive month and third quarter.




                                      14
<PAGE>


Currencies and cross rates were profitable as short dollar positions yielded
solid returns. Long positions in both long and short-term interest rate
instruments were profitable as investors sought safety when equity prices
declined sharply. The major U.S. stock indices suffered their worst quarterly
losses since 1987. The Fund's non-correlation with equities was evident as the
Fund profited from a decline in global equity indices. Industrial metals were
also profitable, while the highly volatile energy sector was the only
unprofitable sector in September.


OFF-BALANCE SHEET RISK

The term "off-balance" sheet risk refers to an unrecorded potential liability
that, even though it does not appear on the balance sheet, may result in
future obligation or loss. The Fund trades in futures, forward and swap
contracts and is therefore a party to financial instruments with elements of
off-balance sheet market and credit risk. In entering into these contracts
there exists a risk to the Fund, market risk, that such contracts may be
significantly influenced by market conditions, such as interest rate
volatility, resulting in such contracts being less valuable. If the markets
should move against all of the futures interests positions of the Fund at the
same time, and if the Fund's trading advisor was unable to offset futures
interests positions of the Fund, the Fund could lose all of its assets and the
Limited Partners would realize a 100% loss. Campbell & Company, Inc., the
General Partner (who also acts as trading advisor), minimizes market risk
through real-time monitoring of open positions, diversification of the
portfolio and maintenance of a margin-to-equity ratio that rarely exceeds 30%.

In addition to market risk, in entering into futures, forward and swap
contracts there is a credit risk that a counterparty will not be able to meet
its obligations to the Fund. The counterparty for futures contracts traded in
the United States and on most foreign exchanges is the clearinghouse
associated with such exchange. In general, clearinghouses are backed by the
corporate members of the clearinghouse who are required to share any financial
burden resulting from the non-performance by one of their members and, as
such, should significantly reduce this credit risk. In cases where the
clearinghouse is not backed by the clearing members, like some foreign
exchanges, it is normally backed by a consortium of banks or other financial
institutions. In the case of forward and swap contracts, which are traded on
the interbank market rather than on exchanges, the counterparty is generally a
single bank or other financial institution, rather than a group of financial
institutions; thus there may be a greater counterparty credit risk. Campbell &
Company trades for the Fund only with those counterparties which it believes
to be creditworthy. All positions of the Fund are valued each day on a
mark-to-market basis. There can be no assurance that any clearing member,
clearinghouse or other counterparty will be able to meet its obligations to
the Fund.





QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

INTRODUCTION

Past Results Not Necessarily Indicative of Future Performance



                                      15
<PAGE>


        The Fund is a speculative commodity pool. The market sensitive
instruments held by it are acquired for speculative trading purposes, and all
or substantially all of the Fund's assets are subject to the risk of trading
loss. Unlike an operating company, the risk of market sensitive instruments is
integral, not incidental, to the Fund's main line of business.

        Market movements result in frequent changes in the fair market value
of the Fund's open positions and, consequently, in its earnings and cash flow.
The Fund's market risk is influenced by a wide variety of factors, including
the level and volatility of exchange rates, interest rates, equity price
levels, the market value of financial instruments and contracts, the
diversification effects among the Fund's open positions and the liquidity of
the markets in which it trades.

        The Fund rapidly acquires and liquidates both long and short positions
in a wide range of different markets. Consequently, it is not possible to
predict how a particular future market scenario will affect performance, and
the Fund's past performance is not necessarily indicative of its future
results.

        Value at Risk is a measure of the maximum amount which the Fund could
reasonably be expected to lose in a given market sector. However, the inherent
uncertainty of the Fund's speculative trading and the recurrence in the
markets traded by the Fund of market movements far exceeding expectations
could result in actual trading or non-trading losses far beyond the indicated
Value at Risk or the Fund's experience to date (i.e., "risk of ruin"). In
light of the foregoing as well as the risks and uncertainties intrinsic to all
future projections, the inclusion of the quantification included in this
section should not be considered to constitute any assurance or representation
that the Fund's losses in any market sector will be limited to Value at Risk
or by the Fund's attempts to manage its market risk.

Standard of Materiality

        Materiality as used in this section, "Qualitative and Quantitative
Disclosures About Market Risk," is based on an assessment of reasonably
possible market movements and the potential losses caused by such movements,
taking into account the leverage, and multiplier features of the Fund's market
sensitive instruments.

QUANTIFYING THE FUND'S TRADING VALUE AT RISK

Quantitative Forward-Looking Statements

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

        The Fund's risk exposure in the various market sectors traded by
Campbell & Company is quantified below in terms of Value at Risk. Due to the
Fund's mark-to-market accounting, any





                                      16
<PAGE>



loss in the fair value of the Fund's open positions is directly reflected in
the Fund's earnings (realized or unrealized).

        Exchange maintenance margin requirements have been used by the Fund as
the measure of its Value at Risk. Maintenance margin requirements are set by
exchanges to equal or exceed the maximum losses reasonably expected to be
incurred in the fair value of any given contract in 95%-99% of any one-day
intervals. The maintenance margin levels are established by dealers and
exchanges using historical price studies as well as an assessment of current
market volatility and economic fundamentals to provide a probabilistic
estimate of the maximum expected near-term one-day price fluctuation.
Maintenance margin has been used rather than the more generally available
initial margin, because initial margin includes a credit risk component which
is not relevant to Value at Risk.

        In the case of market sensitive instruments which are not
exchange-traded (which includes currencies and some energy products and metals
in the case of the Fund), the margin requirements for the equivalent futures
positions have been used as Value at Risk. In those cases in which a
futures-equivalent margin is not available, dealers' margins have been used.

        In the case of contracts denominated in foreign currencies, the Value
at Risk figure include foreign margin amounts converted into U.S. Dollars with
an incremental adjustment to reflect the exchange rate risk inherent to the
Dollar-based Fund in expressing Value at Risk in a functional currency other
than Dollars.

        In quantifying the Fund's Value at Risk, 100% positive correlation in
the different positions held in each market risk category has been assumed.
Consequently, the margin requirements applicable to the open contracts have
simply been aggregated to determine each trading category's aggregate Value at
Risk. The diversification effects resulting from the fact that the Fund's
positions are rarely, if ever, 100% positively correlated have not been
reflected.

THE FUND'S TRADING VALUE AT RISK IN DIFFERENT MARKET SECTORS

     The following tables indicate the trading Value at Risk associated with
the Fund's open positions by market category as of September 30, 2001 and
December 31, 2000 and the trading gains/losses by market category for the nine
months ended September 30, 2001 and the year ended December 31, 2000. All open
position trading risk exposures of the Fund have been included in calculating
the figures set forth below. As of September 30, 2001 and December 31, 2000,
the Fund's total capitalization was approximately $855 million and $631
million, respectively.

                                      17
<PAGE>

<TABLE>
<CAPTION>
                               SEPTEMBER 30, 2001
                               ------------------

                                                    % OF TOTAL            TRADING
MARKET SECTOR                VALUE AT RISK       CAPITALIZATION        GAIN/(LOSS)*
-------------                -------------       --------------        ------------
<S>                       <C>                  <C>                  <C>
Currencies                   $26.47 million          3.10%               3.69%
Interest Rates               $25.08 million          2.93%              10.33%
Stock Indices                $15.39 million          1.80%               3.77%
Energy                       $ 2.77 million           .33%              (8.30%)
Metals                       $ 2.51 million           .29%                .10%
                             ---------------        ------              ------

   Total                     $72.22 million          8.45%               9.59%
                             ==============          =====               =====
</TABLE>

* - Of the 5.39% return for the nine months ended September 30, 2001,
approximately 9.59% was due to trading gains (before commissions) and
approximately 3.20% was due to interest income, offset by approximately 7.40%
in brokerage fees, performance fees, operating and offering costs borne by the
Fund.


<TABLE>
<CAPTION>
                               DECEMBER 31, 2000
                               -----------------

                                                    % OF TOTAL            TRADING
MARKET SECTOR                VALUE AT RISK       CAPITALIZATION        GAIN/(LOSS)*
-------------                -------------       --------------        ------------
<S>                        <C>                <C>                   <C>
Interest Rates               $23.16 million          3.67%               2.45%
Currencies                   $16.58 million          2.63%               3.86%
Stock Indices                $13.99 million          2.22%             (1.65%)
Energy                       $10.75 million          1.70%              12.39%
Metals                       $ 1.24 million           .20%             (2.44%)
Agriculturals                $    0 million             0%              (.27%)
                             --------------        -------              ------

   Total                     $65.72 million         10.42%              14.34%
                             ==============         ======              ======
</TABLE>

* - Of the 10.70% return for the year ended December 31, 2000, approximately
14.34% was due to trading gains (before commissions) and approximately 5.83%
was due to interest income, offset by approximately 9.47% in brokerage fees,
performance fees, operating and offering costs borne by the Fund.





MATERIAL LIMITATIONS ON VALUE AT RISK AS AN ASSESSMENT OF MARKET RISK

        The face value of the market sector instruments held by the Fund is
typically many times the applicable maintenance margin requirement
(maintenance margin requirements generally ranging between approximately 1%
and 10% of contract face value) as well as many times the capitalization of
the Fund. The magnitude of the Fund's open positions creates a "risk of ruin"
not typically found in most other investment vehicles. Because of the size of
its positions, certain market conditions -- unusual, but historically
recurring from time to time -- could cause



                                      18
<PAGE>


the Fund to incur severe losses over a short period of time. The foregoing
Value at Risk tables -- as well as the past performance of the Fund -- give no
indication of this "risk of ruin."

NON-TRADING RISK

        The Fund has non-trading market risk on its foreign cash balances not
needed for margin. However, these balances (as well as the market risk they
represent) are immaterial. The Fund also has non-trading market risk as a
result of investing a substantial portion of the its available assets in U.S.
Treasury Bills. The market risk represented by these investments is
immaterial.


QUALITATIVE DISCLOSURES REGARDING PRIMARY TRADING RISK EXPOSURES

               The following qualitative disclosures regarding the Fund's
market risk exposures -- except for (i) those disclosures that are statements
of historical fact and (ii) the descriptions of how the Fund manages its
primary market risk exposures -- constitute forward-looking statements within
the meaning of Section 27A of the Securities Act and Section 21E of the
Securities Exchange Act. The Fund's primary market risk exposures as well as
the strategies used and to be used by Campbell & Company for managing such
exposures are subject to numerous uncertainties, contingencies and risks, any
one of which could cause the actual results of the Fund's risk controls to
differ materially from the objectives of such strategies. Government
interventions, defaults and expropriations, illiquid markets, the emergence of
dominant fundamental factors, political upheavals, changes in historical price
relationships, an influx of new market participants, increased regulation and
many other factors could result in material losses as well as in material
changes to the risk exposures and the risk management strategies of the Fund.
There can be no assurance that the Fund's current market exposure and/or risk
management strategies will not change materially or that any such strategies
will be effective in either the short- or long-term. Investors must be
prepared to lose all or substantially all of their investment in the Fund.

        The following were the primary trading risk exposures of the Fund as
of September 30, 2001, by market sector.

Currencies

        Exchange rate risk is the principal market exposure of the Fund. The
Fund's currency exposure is to exchange rate fluctuations, primarily
fluctuations which disrupt the historical pricing relationships between
different currencies and currency pairs. These fluctuations are influenced by
interest rate changes as well as political and general economic conditions.
The Fund trades in a large number of currencies, including cross-rates --
i.e., positions between two currencies other than the U.S. Dollar. Campbell &
Company does not anticipate that the risk profile of the Fund's currency
sector will change significantly in the future.

Interest Rates

        Interest rate risk is a significant market exposure of the Fund.
Interest rate movements directly affect the price of the sovereign bond
positions held by the Fund and indirectly the value of its stock index and
currency positions. Interest rate movements in one country as well as relative
interest rate movements between countries materially impact the Fund's
profitability.


                                      19
<PAGE>


The Fund's primary interest rate exposure is to interest rate fluctuations in
the United States and the other G-7 countries. However, the Fund also takes
positions in the government debt of Switzerland. Campbell & Company
anticipates that G-7 interest rates will remain the primary market exposure of
the Fund for the foreseeable future. The changes in interest rates which have
the most effect on the Fund are changes in long-term, as opposed to short-term
rates. Most of the speculative positions held by the Fund are in medium- to
long-term instruments. Consequently, even a material change in short-term
rates would have little effect on the Fund were the medium- to long-term rates
to remain steady.

Stock Indices

        The Fund's primary equity exposure is to equity price risk in the G-7
countries and several other countries (Hong Kong and Spain). The stock index
futures traded by the Fund are by law limited to futures on broadly based
indices. As of September 30, 2001, the Fund's primary exposures were in the
S&P 500 (USA), DAX (Germany), NASDAQ (USA), Nikkei (Japan), IBEX (Spain) and
FTSE (U.K.) stock indices. The Fund is primarily exposed to the risk of
adverse price trends or static markets in the major U.S., European and
Japanese indices. (Static markets would not cause major market changes but
would make it difficult for the Fund to avoid being "whipsawed" into numerous
small losses.)

Energy

        The Fund's primary energy market exposure is to gas and oil price
movements, often resulting from political developments in the Middle East. As
of September 30, 2001, natural gas and crude oil are the dominant energy
market exposures of the Fund. Oil and gas prices can be volatile and
substantial profits and losses have been and are expected to continue to be
experienced in this market.

Metals

        The Fund's metals market exposure is to fluctuations in the price of
aluminum, copper, gold, nickel and zinc. Campbell & Company's gold trading has
been increasingly limited due to the long-lasting and mainly non-volatile
decline in the price of gold over the last 10-15 years.

QUALITATIVE DISCLOSURES REGARDING NON-TRADING RISK EXPOSURE

        The following were the only non-trading risk exposures of the Fund as
of September 30, 2001.

Foreign Currency Balances

        The Fund's primary foreign currency balances are in Japanese Yen,
British Pounds and Euros. The Fund controls the non-trading risk of these
balances by regularly converting these balances back into dollars (no less
frequently than twice a month, and more frequently if a particular foreign
currency balance becomes unusually large).

Treasury Bill Positions


                                      20
<PAGE>

        The Fund's only market exposure in instruments held other than for
trading is in its Treasury Bill portfolio. The Fund holds Treasury Bills
(interest bearing and credit risk-free) with durations no longer than six
months. Violent fluctuations in prevailing interest rates could cause
immaterial mark-to-market losses on the Fund's Treasury Bills, although
substantially all of these short-term investments are held to maturity.


QUALITATIVE DISCLOSURES REGARDING MEANS OF MANAGING RISK EXPOSURE

        The means by which the Fund and Campbell & Company, severally, attempt
to manage the risk of the Fund's open positions is essentially the same in all
market categories traded. Campbell & Company applies risk management policies
to its trading which generally limit the total exposure that may be taken per
"risk unit" of assets under management. In addition, Campbell & Company
follows diversification guidelines (often formulated in terms of the balanced
volatility between markets and correlated groups), as well as imposing
"stop-loss" points at which open positions must be closed out.

        Campbell & Company controls the risk of the Fund's non-trading
instruments (Treasury Bills held for cash management purposes) by limiting the
duration of such instruments to no more than six months.

GENERAL

        The Fund is unaware of any (i) anticipated known demands, commitments
or capital expenditures; (ii) material trends, favorable or unfavorable, in
its capital resources; or (iii) trends or uncertainties that will have a
material effect on operations. From time to time, certain regulatory agencies
have proposed increased margin requirements on commodity futures contracts.
Because the Fund generally will use a small percentage of assets as margin,
the Fund does not believe that any increase in margin requirements, as
proposed, will have a material effect on the Fund's operations.


                                      21



<PAGE>


                          PART II-OTHER INFORMATION

Item 1.        Legal Proceedings.

               None

Item 2.        Changes in Securities

               None

Item 3.        Defaults Upon Senior Securities

               Not applicable.

Item 4.        Submissions of Matters to a vote of Security Holders.

               None

Item 5.        Other Information

               None

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

               None

               There are no exhibits to this Form 10-Q.




                                      22
<PAGE>




                                  SIGNATURES

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


                          CAMPBELL STRATEGIC ALLOCATION FUND, L.P.
                          (Registrant)

                              By:    Campbell & Company, Inc.
                                     General Partner


Date: November 12, 2001              By:    /s/Theresa D. Becks
                                          --------------------------------------
                                     Theresa D. Becks
                                     Chief Financial Officer/Treasurer/Director





                                      23