UNITED STATES
    SECURITIES AND EXCHANGE COMMISSION
    WASHINGTON, D.C. 20549
  FORM 10-Q
  (X) QUARTERLY REPORT PURSUANT TO SECTION 13 OR
    15(d)
  OF THE
    SECURITIES EXCHANGE ACT OF 1934
  For The
    Quarterly Period Ended June 30, 2008
  OR ( )
    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
  OF THE
    SECURITIES EXCHANGE ACT OF 1934
  
  0-53211
  CITIGROUP
    EMERGING CTA PORTFOLIO L.P.
   (Exact name
    of registrant as specified in its charter)
  New York


04-3768983(State or other jurisdiction of
    incorporation or organization)


(I.R.S. Employer
    Identification No.
)   c/o Citigroup
    Managed Futures LLC
    731 Lexington Avenue  25th Fl.
    New York, New York 10022  (Address
    of principal executive offices) (Zip Code)
  (212) 559-2011
 (Registrants
    telephone number, including area code)
    Yes
    X   No
  12b-2
  Large
    accelerated filer
    Accelerated filer
    Non-accelerated
    filer X
    Smaller
    reporting company  Rule 12b-2
  Yes
     No X




---



##### 



CITIGROUP
    EMERGING CTA PORTFOLIO L.P.
  FORM 10-Q
  INDEX
  PageNumberPART I - Financial Information:Item 1.

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

3Schedules of Investments at June 30, 2008 and
    December 31, 2007  (unaudited)

4  5Statements of Income and Expenses and Partners Capital for
    the three and six months ended June 30, 2008 and 2007
    (unaudited)

6Statements of Cash Flows for the three and six months ended
    June 30, 2008 and 2007 (unaudited)

7Notes to Financial Statements (unaudited)

8  14Item 2.

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

15  18Item 3.

Quantitative and Qualitative Disclosures about Market Risk

19  21Item 4.

Controls and Procedures

22PART II - Other Information



23  25  2




---



##### 



PART I Item 1.
    Financial Statements Citigroup
    Emerging CTA Portfolio L.P.
    Statements of Financial Condition
    (Unaudited)  June 30,


December 31,2008


2007Assets:Investment in Partnerships, at fair value

$
54,574,588


$
49,148,276Equity in commodity futures trading account:Cash (restricted $14,648,168 and $6,001,767 in 2008 and 2007,
    respectively)


116,666,634



91,366,880Net unrealized appreciation on open futures contracts


2,572,006



768,934Unrealized appreciation on open forward contracts


4,348,175



Commodity options owned, at fair value (cost $1,006,900 and $0
    in 2008 and 2007, respectively)


1,723,126



179,884,529



141,284,090Distribution receivable


68,687



123,175Interest receivable


172,589



229,609Total assets

$
180,125,805


$
141,636,874Liabilities and Partners Capital:Liabilities:Unrealized depreciation on open forward contracts

$
5,489,354


$
Commodity options written, at fair value (premium $930,850 and
    $0 in 2008 and 2007, respectively)


590,136



Accrued expenses:Brokerage commissions


507,572



397,113Management fees


289,151



226,201Administrative fees


72,289



56,550Incentive fees


1,688,543



340,069General Partner incentive fees


1,033,241



166,156Other


30,494



35,699Redemptions payable


6,785,089



1,481,282Total liabilities


16,485,869



2,703,070Partners Capital:General Partner, 129.0000 Unit equivalents outstanding in 2008
    and 2007, respectively


182,771



162,796Limited Partners, 115,367.8842 and 109,962.8591 Redeemable Units
    of Limited Partnership Interest outstanding in 2008 and 2007,
    respectively


163,457,165



138,771,008Total partners capital


163,639,936



138,933,804Total liabilities and partners capital

$
180,125,805


$
141,636,874    3




---



##### 



Citigroup
    Emerging CTA Portfolio L.P.
    Schedule of Investments
    June 30, 2008
    (Unaudited)  % of PartnersFair Value


CapitalFutures Contracts PurchasedCurrencies

$
178,758



0.11
%Energy


1,236,051



0.75Grains


790,097



0.48Indices


(30,014
)


(0.02
)Interest Rates U.S


340,925



0.21Interest Rates Non-U.S


(16,671
)


(0.01
)Livestock


(21,440
)


(0.01
)Metals


76,070



0.05Softs


528,317



0.32Total futures contracts purchased


3,082,093



1.88Futures Contracts SoldCurrencies


747



0.00
*Energy


(760,733
)


(0.46
)Grains


(648,700
)


(0.40
)Indices


964,652



0.59Interest Rates U.S


(130,552
)


(0.08
)Interest Rates Non-U.S


64,079



0.04Livestock


720



0.00
*Metals


(300
)


0.00
*Total futures contracts sold


(510,087
)


(0.31
)Unrealized Appreciation on Open Forward ContractsCurrencies


2,401,104



1.47Metals


1,947,071



1.19Total unrealized appreciation on open forward contracts


4,348,175



2.66Unrealized Depreciation on Open Forward ContractsCurrencies


(3,668,068
)


(2.24
)Metals


(1,821,286
)


(1.11
)Total unrealized depreciation on open forward contracts


(5,489,354
)


(3.35
)Options OwnedEnergy


1,723,126



1.05Options WrittenEnergy


(590,136
)


(0.36
)Investment in PartnershipsCMF Altis Partners Master Fund LP


35,744,334



21.84CMF Avant Master Fund LP


18,830,254



11.51Total investment in Partnerships


54,574,588



33.35Total fair value

$
57,138,405



34.92
%    *
    
    Due to rounding.   4




---



##### 



Citigroup
    Emerging CTA Portfolio L.P.
    Schedule of Investments
    December 31, 2007
    (Unaudited)
  % of PartnersFair Value


CapitalFutures Contracts PurchasedCurrencies

$
(86,912
)


(0.06
)%Energy


180,317



0.13Grains


338,467



0.24Indices


(200,924
)


(0.14
)Interest Rates U.S


81,347



0.06Interest Rates Non-U.S


12,250



0.01Metals


129,384



0.09Softs


136,696



0.10Total futures contracts purchased


590,625



0.43Futures Contracts SoldCurrencies


(36,451
)


(0.03
)Energy


(11,570
)


(0.01
)Grains


10,650



0.01Indices


72,037



0.05Interest Rates Non-U.S


146,485



0.10Livestock


22,850



0.02Metals


(5,967
)


(0.00
)*Softs


(19,725
)


(0.01
)Total futures contracts sold


178,309



0.13Investment in PartnershipsCMF Altis Partners Master Fund LP


27,651,093



19.90CMF Avant Master Fund LP


21,497,183



15.47Total investment in Partnerships


49,148,276



35.37Total fair value

$
49,917,210



35.93   *
    
    Due to rounding.   5




---



##### 



Citigroup
    Emerging CTA Portfolio L.P.Statements of Income and Expenses and
    Partners Capital
    (Unaudited)
  Three Months Ended


Six Months EndedJune 30,


June 30,2008


2007


2008


2007Income:Net gains (losses) on trading of commodity interests and
    investment in Partnerships:Net realized gains (losses) on closed positions

$
732,660


$
9,645,551


$
9,036,819


$
9,285,803Change in net unrealized gains (losses) on open positions and
    investment in Partnerships


12,580,514



5,426,028



16,860,275



3,067,628Gain (loss) from trading, net


13,313,174



15,071,579



25,897,094



12,353,431Interest income


405,509



871,688



940,386



1,589,783Total income (loss)


13,718,683



15,943,267



26,837,480



13,943,214Expenses:Brokerage commissions including clearing fees of $66,935,
    $82,148, $117,945 and $151,747, respectively


1,495,158



1,111,139



2,835,964



1,986,565Management fees


782,933



591,456



1,510,984



1,053,118Administrative fees


201,211



147,862



383,225



263,278Incentive fees


1,688,543



1,360,676



2,725,081



1,360,676General Partner incentive fees


531,307



406,307



1,033,241



406,307Other


48,443



17,173



84,269



34,200Total expenses


4,747,595



3,634,613



8,572,764



5,104,144Net income (loss)


8,971,088



12,308,654



18,264,716



8,839,070Additions  Limited Partners


11,460,000



24,995,000



22,531,000



44,355,000Redemptions  Limited Partners


(9,609,507
)


(9,974,913
)


(16,089,584
)


(11,604,036
)Net increase (decrease) in Partners Capital


10,821,581



27,328,741



24,706,132



41,590,034Partners Capital, beginning of period


152,818,355



95,773,052



138,933,804



81,511,759Partners Capital, end of period

$
163,639,936


$
123,101,793


$
163,639,936


$
123,101,793Net Asset Value per Unit (115,496.8842 and 95,393.0674 Units
    outstanding at June 30, 2008 and 2007, respectively)

$
1,416.83


$
1,290.47


$
1,416.83


$
1,290.47Net income (loss) per Redeemable Unit of Limited Partnership
    Interest and General Partner Unit equivalent

$
75.04


$
131.06


$
154.85


$
91.13    6




---



##### 



Citigroup
    Emerging CTA Portfolio L.P.
    Statements of Cash Flows
    (Unaudited)  Three Months Ended


Six Months EndedJune 30,


June 30,2008


2007


2008


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

$
8,971,088


$
12,308,654


$
18,264,716


$
8,839,070Adjustments to reconcile net income (loss) to net cash provided
    by (used in) operating activities:Changes in operating assets and liabilities:Purchases of investment in Partnerships


(2,695,000
)


(7,316,750
)


(2,695,000
)


(17,961,262
)Proceeds from sale of investment in Partnerships


11,414,030



1,315,229



12,464,618



3,419,564Net change in unrealized (appreciation) depreciation on
    investment in Partnerships


(10,356,992
)


(4,880,630
)


(15,195,930
)


(3,806,786
)(Increase) decrease in restricted cash


(7,537,011
)


790,458



(8,646,401
)


887,831(Increase) decrease in net unrealized appreciation on open
    futures contracts


(2,204,100
)


(545,398
)


(1,803,072
)


524,123(Increase) decrease in unrealized appreciation on open forward
    contracts


(3,727,801
)






(4,348,175
)


439,442(Increase) decrease in commodity options owned, at fair value


(1,723,126
)






(1,723,126
)


(Increase) decrease in distribution receivable


(9,566
)






54,488



(Increase) decrease in interest receivable


(51,416
)


(42,228
)


57,020



(82,963
)Increase (decrease) in unrealized depreciation on open forward
    contracts


4,774,885







5,489,354



(224,407
)Increase (decrease) in commodity options written, at fair value


590,136







590,136



Accrued expenses:Increase (decrease) in brokerage commissions


79,197



96,778



110,459



132,804Increase (decrease) in management fees


45,183



55,131



62,950



75,646Increase (decrease) in administrative fees


11,297



13,783



15,739



18,912Increase (decrease) in incentive fees


652,005



1,360,676



1,348,474



1,098,248Increase (decrease) in General Partner incentive fees


531,306



406,307



867,085



272,347Increase (decrease) in other


(32,003
)


5,736



(5,205
)


11,189Net cash provided by (used in) operating activities


(1,267,888
)


3,567,746



4,908,130



(6,356,242
)Cash flows from financing activities:Proceeds from additions  Limited Partners


11,460,000



24,995,000



22,531,000



44,355,000Payments for redemptions  Limited Partners


(6,074,628
)


(6,061,199
)


(10,785,777
)


(9,270,830
)Net cash provided by (used in) financing activities


5,385,372



18,933,801



11,745,223



35,084,170Net change in unrestricted cash


4,117,484



22,501,547



16,653,353



28,727,928Unrestricted cash, at beginning of period


97,900,982



50,441,768



85,365,113



44,215,387Unrestricted cash, at end of period

$
102,018,466


$
72,943,315


$
102,018,466


$
72,943,315Non-cash financing activities:Change in redemptions payable

$
3,534,879


$



$
5,303,807


$
    7




---



##### 



Citigroup
    Emerging CTA Portfolio L.P.Notes to Financial Statements
    June 30, 2008
    (Unaudited)
  1.
    General:          Form 10-12G
   8




---



##### 



Citigroup
    Emerging CTA Portfolio L.P.
    Notes to Financial Statements
    June 30, 2008
    (Unaudited)
  2.
    Financial
    Highlights:    Three Months Ended


Six Months EndedJune 30,


June 30,2008


2007


2008


2007Net realized and unrealized gains (losses)*

$
99.14


$
148.33


$
195.70


$
106.97Interest income


3.43



9.29



8.03



18.61Expenses**


(27.53
)


(26.56
)


(48.88
)


(34.45
)Increase (decrease) for the period


75.04



131.06



154.85



91.13Net Asset Value per Redeemable Unit, beginning of period


1,341.79



1,159.41



1,261.98



1,199.34Net Asset Value per Redeemable Unit, end of period

$
1,416.83


$
1,290.47


$
1,416.83


$
1,290.47       Three Months Ended


Six Months EndedJune 30,


June 30,2008


2007


2008


2007Ratios to Average Net Assets:***Net investment income (loss) before incentive fees****


(5.4
)%


(3.7
)%


(5.1
)%


(3.5
)%Operating expense


6.5
%


6.9
%


6.3
%


6.7
%Incentive fees


1.4
%


1.6
%


2.5
%


1.8
%Total expenses


7.9
%


8.5
%


8.8
%


8.5
%Total return:Total return before incentive fees


7.0
%


12.9
%


14.8
%


9.1
%Incentive fees


(1.4
)%


(1.6
)%


(2.5
)%


(1.5
)%Total return after incentive fees


5.6
%


11.3
%


12.3
%


7.6
%         3.
    Trading
    Activities:   9




---



##### 



Citigroup
    Emerging CTA Portfolio L.P.
    Notes to Financial Statements
    June 30, 2008
    (Unaudited)
        4.
    Fair
    Value Measurements:  Investments.
  Fair Value Measurements. Fair Value Measurements No. FAS 157-2, Effective Date of FASB Statement No. 157,
   10




---



##### 



Citigroup
    Emerging CTA Portfolio L.P.
    Notes to Financial Statements
    June 30, 2008
    (Unaudited)
  Quoted Prices inActive Markets


Significant Other


Significantfor Identical


Observable Inputs


Unobservable Inputs6/30/2008


Assets (Level 1)


(Level 2)


(Level 3)AssetsFutures

$
2,572,006


$
2,572,006


$



$
Forwards


4,348,175







4,348,175



Options owned


1,723,126



1,723,126







Investment in Partnerships


54,574,588







54,574,588



Total assets


63,217,895



4,295,132



58,922,763



LiabilitiesForwards

$
5,489,354


$



$
5,489,354


$
Options written


590,136



590,136







Total liabilities


6,079,490



590,136



5,489,354



Total fair value

$
57,138,405


$
3,704,996


$
53,433,409


$
   5.
    Investment
    in Partnerships:       11




---



##### 



Citigroup
    Emerging CTA Portfolio L.P.
    Notes to Financial Statements
    June 30, 2008
    (Unaudited)
    give-up,
      June 30, 2008Total Assets


Total Liabilities


Total CapitalAltis Master

$
100,871,448


$
1,585,246


$
99,286,202Avant Master


82,200,061



21,028,843



61,171,218Total

$
183,071,509


$
22,614,089


$
160,457,420   December 31, 2007Total Assets


Total Liabilities


Total CapitalAltis Master

$
73,353,710


$
1,094,835


$
72,258,875Avant Master


66,335,555



3,664,226



62,671,329Total

$
139,689,265


$
4,759,061


$
134,930,204  12




---



##### 



Citigroup
    Emerging CTA Portfolio L.P.
    Notes to Financial Statements
    June 30, 2008
    (Unaudited)
    June 30, 2008% of





For the three months ended June 30, 2008Partnerships


Fair


Income


Expenses


Net


Investment


RedemptionInvestment

Net Assets


Value


(Loss)


Commissions


Other


Income (Loss)


Objective


PermittedCMF Altis Partners Master Fund LP


21.84
%

$
35,744,334


$
8,600,106


$
12,704


$
3,415


$
8,583,987



Commodity
    Portfolio



MonthlyCMF Avant Master Fund LP


11.51
%


18,830,254



1,799,637



12,600



4,466



1,782,571



Energy
    Markets



MonthlyTotal





$
54,574,588


$
10,399,743


$
25,304


$
7,881


$
10,366,558   June 30, 2008% of





For the six months ended June 30, 2008Partnerships


Fair


Income


Expenses


Net


Investment


RedemptionInvestment

Net Assets


Value


(Loss)


Commissions


Other


Income (Loss)


Objective


PermittedCMF Altis Partners Master Fund LP


21.84
%

$
35,744,334


$
11,664,019


$
31,355


$
7,051


$
11,625,613



Commodity
    Portfolio



MonthlyCMF Avant Master Fund LP


11.51
%


18,830,254



3,551,113



27,042



8,242



3,515,829



Energy
    Markets



MonthlyTotal





$
54,574,588


$
15,215,132


$
58,397


$
15,293


$
15,141,442   December 31, 2007% of





For the three months ended June 30, 2007Partnerships


Fair


Income


Expenses


Net


Investment


RedemptionInvestment

Net Assets


Value


(Loss)


Commissions


Other


Income (Loss)


Objective


PermittedCMF Altis Partners
    Master Fund LP


19.90
%

$
27,651,093


$
(448,947
)

$
23,354


$
4,162


$
(476,463
)


Commodity
    Portfolio



MonthlyCMF Avant Master Fund LP


15.47
%


21,497,183



5,373,704



13,143



3,468



5,357,093



Energy
    Markets



MonthlyTotal





$
49,148,276


$
4,924,757


$
36,497


$
7,630


$
4,880,630   December 31, 2007% of





For the six months ended June 30, 2007Partnerships


Fair


Income


Expenses


Net


Investment


RedemptionInvestment

Net Assets


Value


(Loss)


Commissions


Other


Income (Loss)


Objective


PermittedCMF Altis Partners Master Fund LP


19.90
%

$
27,651,093


$
4,020,528


$
30,580


$
6,565


$
3,983,383



Commodity
    Portfolio



MonthlyCMF Avant Master Fund LP


15.47
%


21,497,183



(130,579
)


37,324



8,694



(176,597
)


Energy
    Markets



MonthlyTotal





$
49,148,276


$
3,889,949


$
67,904


$
15,259


$
3,806,786   6.
    Financial
    Instrument Risks:   13




---



##### 



Citigroup
    Emerging CTA Portfolio L.P.
    Notes to Financial Statements
    June 30, 2008
    (Unaudited)
             14




---



##### 



Item 2.
    Managements
    Discussion and Analysis of Financial Condition and Results of
    Operations.  Liquidity
    and Capital Resources
        Critical
    Accounting Policies
  Use of Estimates.
  Investments.
  Fair Value Measurements. Fair Value Measurements No. FAS 157-2, Effective Date of FASB Statement No. 157,
   15




---



##### 



Quoted Prices inActive Markets


Significant Other


Significantfor Identical


Observable Inputs


Unobservable6/30/2008


Assets (Level 1)


(Level 2)


Inputs (Level 3)AssetsFutures

$
2,572,006


$
2,572,006


$



$
Forwards


4,348,175







4,348,175



Options Owned


1,723,126



1,723,126







Investment in Partnerships


54,574,588







54,574,588



Total assets


63,217,895



4,295,132



58,922,763



LiabilitiesForwards

$
5,489,354


$



$
5,489,354


$
Options written


590,136



590,136







Total liabilities


6,079,490



590,136



5,489,354



Total fair value

$
57,138,405


$
3,704,996


$
53,433,409


$
   Forward Foreign Currency Contracts. agreed-upon
  Income Taxes.
      Recent Accounting Pronouncements.
 16




---



##### 



Results
    of Operations
  non-U.S. interest non-U.S. interest
         non-U.S. interest non-U.S. interest
    30-day 3-month
 17




---



##### 



and/or 90-day
         18




---



##### 



Item 3.
    Quantitative
    and Qualitative Disclosures about Market Risk          one-day
 19




---



##### 



June 30,
    2008
    (Unaudited)
  Three Months Ended June 30, 2008Value at


% of Total


High


Low


Average ValueMarket Sector

Risk


Capital


Value at Risk


Value at Risk


at Risk*Currencies:-Exchange Traded Contracts

$
1,752,774



1.07
%

$
1,752,774


$
839,000


$
1,129,988-OTC


3,437,720



2.10
%


4,495,172



895,857



2,331,700Energy


3,136,077



1.92
%


3,179,718



440,685



2,354,024Grains


423,380



0.26
%


472,960



186,620



313,447Interest Rates U.S


622,183



0.38
%


901,203



320,283



605,090Interest Rates Non -U.S


1,106,585



0.68
%


1,657,551



948,827



1,185,482Livestock


32,720



0.02
%


158,400



21,575



50,883Metals-Exchange Traded Contracts


307,550



0.19
%


507,000



183,000



390,483-OTC


472,558



0.29
%


747,171



32,027



274,754Softs


547,473



0.33
%


547,473



188,255



360,831Indices


2,021,021



1.23
%


2,081,245



911,442



1,601,260Total

$
13,860,041



8.47
%   *
    
    Average month-end Values at Risk 20




---



##### 



June 30,
    2008
    (Unaudited)
  Three months ended June 30, 2008% of Total


High


Low


AverageMarket Sector

Value at Risk


Capital


Value at Risk


Value at Risk


Value at Risk*Commodity Index

$
32,000



0.03
%

$
46,000


$
6,000


$
30,667Currencies: Exchange Traded


1,709,171



1.72
%


1,851,289



807,124



1,210,194Energy


3,864,606



3.89
%


5,244,750



1,004,438



3,967,903Grains


1,466,337



1.48
%


1,460,131



519,793



1,320,757Interest Rates U.S.


544,350



0.55
%


744,450



66,931



327,637Interest Rates Non -U.S.


1,993,228



2.01
%


1,994,129



944,010



1,786,074Livestock


117,727



0.12
%


188,800



26,555



91,494Metals: Exchange Traded


713,750



0.72
%


912,000



222,550



469,885 OTC


1,990,093



2.00
%


2,598,364



898,331



2,257,189Softs


687,422



0.69
%


986,080



451,658



687,601Indices


4,402,264



4.43
%


4,700,387



1,034,071



2,664,138Lumber


37,400



0.04
%


55,800



29,700



36,300Total

$
17,558,348



17.68
%   *
    
    Average month-end Values at Risk    June 30,
    2008
    (Unaudited)
  Three months ended June 30, 2008% of Total


High


Low


AverageMarket Sector

Value at Risk


Capital


Value at Risk


Value at Risk


Value at Risk*Currencies:Energy

$
4,125,944



6.74
%

$
4,911,882


$
1,427,832



2,847,163Totals

$
4,125,944



6.74
%   *
    
    Average of month-end Values at Risk 21




---



##### 



Item 4.
    Controls
    and Procedures      Rule 13a-15(e) 15d-15(e)
  internal control over financial
    reporting
  
    pertain to the maintenance of records that in reasonable detail
    accurately and fairly reflect the transactions and dispositions
    of the assets of the Partnership;
    provide reasonable assurance that (i) transactions are
    recorded as necessary to permit preparation of financial
    statements in accordance with U.S. generally accepted
    accounting principles, and (ii) the Partnerships
    receipts are handled and expenditures are made only pursuant to
    authorizations of the General Partner; and
    provide reasonable assurance regarding prevention or timely
    detection of unauthorized acquisition, use or disposition of the
    Partnerships assets that could have a material effect on
    the financial statements.   22




---



##### 



PART II.
    OTHER INFORMATION  Item 1.
    Legal
    Proceedings.    Enron
  Ahlich v. Arthur Andersen, L.L.P. Delgado v. Fastow Pearson v. Fastow Rosen v. Fastow Bullock v. Arthur Andersen, L.L.P. Choucroun v. Arthur Andersen, L.L.P. Guy v. Arthur Andersen, L.L.P. Adams v. Arthur Andersen, L.L.P. Jose v. Arthur Andersen, L.L.P. Odam, et al., v. Enron Corp., et al
      IPO Civil
    Litigation
    Subprime
    Mortgage-Related Litigation
  In Re
    Citigroup Inc. Shareholder Derivative Litigation
  In Re American Home
    Mortgage Securities Litigation
  In Re Countrywide
    Financial Corp. Securities Litigation
  Other
    Matters
    Auction
    Rate Securities
   23




---



##### 



In Re Citigroup Auction Rate securities
    Litigation
    and/or
  Ferguson Family Trust v. Falcon
  Strategies Two LLC, et
    al.
  In re MAT Five Securities
    Litigation
  Item 1A.
    Risk
    Factors     24




---



##### 



Item 2.
    Unregistered
    Sales of Equity Securities and Use of Proceeds.        (d) Maximum Number(c) Total Number of



(or ApproximateRedeemable



Dollar Value) of(b) Average



Units Purchased



Redeemable Units(a) Total Number of



Price Paid per



as Part of



that May Yet BeRedeemable



Redeemable



Publicly Announced



Purchased Under thePeriod


Units Purchased*



Unit**



Plans or Programs



Plans or ProgramsApril 1, 2008 
    April 30, 2008



1,609.1612



$
1,333.17




N/A




N/AMay 1, 2008 
    May 31, 2008



499.9251



$
1,358.47




N/A




N/AJune 1, 2008 
    June 30, 2008



4,788.9227



$
1,416.83




N/A




N/A6,898.0090



$
1,393.08       Item 3.
    Defaults
    Upon Senior Securities.  None.  Item 4.
    Submission
    of Matters to a Vote of Security
    Holders.  None.  Item 5.
    Other
    Information. None.  Item 6.
    Exhibits  Regulation S-K
  Rule 13a-14(a)/15d-14(a)
  Rule 13a-14(a)/15d-14(a)
     25




---



##### 



SIGNATURES
     CITIGROUP EMERGING CTA PORTFOLIO L.P.
  By:

Citigroup Managed Futures LLC(General
    Partner)By:

/s/ Jerry PascucciJerry
    Pascucci
    President and DirectorDate:

August 14, 2008By:

/s/ Jennifer MagroJennifer
    Magro
    Chief Financial Officer and DirectorDate:

August 14, 2008  26