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
   
   000-51282
   CITIGROUP
    FAIRFIELD FUTURES FUND L.P. II
    New York

56-2421596(State or other jurisdiction of
    incorporation or organization)

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

Accelerated filer

Non-accelerated filer X

Smaller reporting
    company   rule 12b-2
  Yes     No X




---



##### 



CITIGROUP
    FAIRFIELD FUTURES FUND L.P. II
  FORM 10-Q
  INDEX
  PART I - Financial Information:

Page
    NumberItem 1.


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

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

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

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

6  16Item 2.


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

17  21Item 3.


Quantitative and Qualitative
    Disclosures about Market Risk

22Item 4.


Controls and Procedures

23PART II - Other Information

24  26  2




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##### 



PART I Item 1.  Financial
    Statements
    Citigroup Fairfield Futures Fund L.P. IIStatements of Financial Condition
    (Unaudited)  June 30,


December 31,2008


2007Assets:Investment in Master, at fair value

$
69,678,181


$
69,459,132Cash


168,597



165,627Distribution receivable


78,514



136,665Total assets

$
69,925,292


$
69,761,424Liabilities and Partners Capital:Liabilities:Accrued expenses:Brokerage commissions

$
262,220


$
261,605Management fees


115,954



115,696Administrative fees


28,989



28,924Other


90,573



82,074Redemptions payable


3,215,977



1,316,737Total liabilities


3,713,713



1,805,036Partners Capital:General Partner, 724.0407 Unit equivalents outstanding in 2008
    and 2007


727,979



636,359Special Limited Partner, 614.6964 and 100.0000 Redeemable Units
    of Limited Partnership Interest outstanding in 2008 and 2007,
    respectively


618,040



87,890Limited Partners, 64,514.6516 and 76,495.9137 Redeemable Units
    of Limited Partnership Interest outstanding in 2008 and 2007,
    respectively


64,865,560



67,232,139Total partners capital


66,211,579



67,956,388Total liabilities and partners capital

$
69,925,292


$
69,761,424    3




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##### 



Citigroup
    Fairfield Futures Fund L.P. IIStatements of Income and Expenses and
    Partners Capital
    (Unaudited)
  Three Months Ended


Six Months EndedJune 30,


June 30,2008


2007


2008


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

$
4,340,834


$
12,081,172


$
10,385,876


$
8,645,391Change in net unrealized gains (losses) on open positions
    allocated from Master


1,368,758



1,074,360



1,649,767



(373,412
)Interest income allocated from Master


186,291



570,998



482,704



1,169,882Expenses allocated from Master


(107,829
)


(76,828
)


(204,763
)


(131,609
)Total income (loss)


5,788,054



13,649,702



12,313,584



9,310,252Expenses:Brokerage commissions


759,631



731,390



1,571,612



1,401,206Management fees


335,481



323,034



694,638



619,132Administrative fees


83,871



80,758



173,660



154,782Other


48,959



48,500



95,988



96,317Total expenses


1,227,942



1,183,682



2,535,898



2,271,437Net income (loss) before allocation to Special Limited Partner


4,560,112



12,466,020



9,777,686



7,038,815Allocation to Special Limited Partner


(517,496
)






(517,496
)


Net income (loss) after allocation to Special Limited Partner


4,042,616



12,466,020



9,260,190



7,038,815Additions  Limited Partners


1,588,000



811,000



2,934,000



5,691,000Additions  Special Limited Partner


517,496







517,496



Redemptions  Limited Partners


(4,573,761
)


(3,369,581
)


(14,456,495
)


(7,578,135
)Net increase (decrease) in Partners Capital


1,574,351



9,907,439



(1,744,809
)


5,151,680Partners Capital, beginning of period


64,637,228



56,775,682



67,956,388



61,531,441Partners Capital, end of period

$
66,211,579


$
66,683,121


$
66,211,579


$
66,683,121Net Asset Value per Unit (65,853.3887 and 75,397.1718 Units
    outstanding at June 30, 2008 and 2007, respectively)

$
1,005.44


$
884.42


$
1,005.44


$
884.42Net income (loss) per Redeemable Unit of Limited Partnership
    Interest and General Partner Unit equivalent

$
59.14


$
160.13


$
126.54


$
90.90    4




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##### 



Citigroup
    Fairfield Futures Fund L.P. IIStatements of Cash Flow
    (Unaudited)
  Three Months Ended


Six Months EndedJune 30,


June 30,2008


2007


2008


2007Cash flows from operating activities:Net income (loss) after allocation to Special Limited Partner

$
4,042,616


$
12,466,020


$
9,260,190


$
7,038,815Adjustments to reconcile net income (loss) after allocation to
    Special Limited Partner to net cash provided by (used in)
    operating activities:Changes in operating assets and liabilities:Purchase of investment in Master


(1,588,000
)


(811,000
)


(2,934,000
)


(5,691,000
)Proceeds from sale of investment in Master


11,128,924



5,224,709



15,086,686



15,886,546Net change in unrealized (appreciation) depreciation on
    investment in Master


(5,776,729
)


(13,649,702
)


(12,371,735
)


(9,310,252
)(Increase) decrease in distribution receivable


(11,325
)






58,151



Accrued expenses:Increase (decrease) in brokerage commissions


(14,039
)


34,663



615



(3,085
)Increase (decrease) in management fees


(6,236
)


15,334



258



(1,433
)Increase (decrease) in administrative fees


(1,558
)


3,833



65



(359
)Increase (decrease) in other


11,722



8,514



8,499



40,414Net cash provided by (used in) operating activities


7,785,375



3,292,371



9,108,729



7,959,646Cash flows from financing activities:Proceeds from additions  Limited Partners


1,588,000



811,000



2,934,000



5,691,000Allocation of Redeemable Units  Special Limited
    Partner


517,496







517,496



Payments for redemptions  Limited Partners


(9,881,752
)


(4,096,020
)


(12,557,255
)


(13,588,008
)Net cash provided by (used in) financing activities


(7,776,256
)


(3,285,020
)


(9,105,759
)


(7,897,008
)Net change in cash


9,119



7,351



2,970



62,638Cash, at beginning of period


159,478



140,611



165,627



85,324Cash, at end of period

$
168,597


$
147,962


$
168,597


$
147,962Non-cash financing activities:Change in redemptions payable

$
(5,307,991
)

$



$
1,899,240


$
    5




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##### 



Citigroup
    Fairfield Futures Fund L.P. IINotes to Financial Statements
    June 30, 2008
    (Unaudited)
  1.
    General:            Form 10-K
   6




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##### 



Citigroup
    Fairfield Futures Fund L.P. II
    Notes to Financial Statements
    June 30, 2008
    (Unaudited)
     CMF
    Graham Capital Master Fund L.P.
    Statement of Financial Condition
    (Unaudited)
  June 30,


December 31,2008


2007Assets:Equity in commodity futures trading account:Cash (restricted $37,413,888 and $24,672,137 in 2008 and 2007
    respectively)

$
219,433,426


$
215,782,212Net unrealized appreciation on open futures contracts


3,202,792



278,888Unrealized appreciation on open forward contracts


13,425,242



6,792,116236,061,460



222,853,216Interest receivable


252,840



424,676Total assets

$
236,314,300


$
223,277,892Liabilities and Partners Capital:Liabilities:Unrealized depreciation on open forward contracts

$
11,655,023


$
7,439,350Accrued expenses:Professional fees


20,568



24,122Distribution payable


252,840



424,676Redemptions payable






1,795,357Total liabilities


11,928,431



9,683,505Partners Capital:Limited Partners Capital, 164,846.3481 and 186,334.8221
    Redeemable Units of Limited Partnership Interest outstanding in
    2008 and 2007, respectively


224,385,869



213,594,387Total liabilities and partners capital

$
236,314,300


$
223,277,892  7




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##### 



Citigroup
    Fairfield Futures Fund L.P. II
    Notes to Financial Statements
    June 30, 2008
    (Unaudited)
   CMF
    Graham Capital Master Fund L.P.
    Schedule of Investments
    June 30, 2008
    (Unaudited)
   % of PartnersFair Value


CapitalFutures Contracts PurchasedEnergy

$
265,135



0.12
%Grains


726,121



0.32Indices


(3,962
)


(0.00
)*Interest Rates Non U.S.


20,102



0.01Metals


53,280



0.02Softs


685,211



0.31Total futures contracts purchased


1,745,887



0.78Futures Contracts SoldEnergy


20,924



0.01Indices


1,824,489



0.81Interest Rates Non-U.S.


61,777



0.03Interest Rates U.S.


(334,891
)


(0.15
)Softs


(115,394
)


(0.05
)Total futures contracts sold


1,456,905



0.65Unrealized Appreciation on Open Forward ContractsCurrencies


12,307,591



5.48Metals


1,117,651



0.50Total unrealized appreciation on open forward contracts


13,425,242



5.98Unrealized Depreciation on Open Forward ContractsCurrencies


(10,914,295
)


(4.86
)Metals


(740,728
)


(0.33
)Total unrealized depreciation on open forward contracts


(11,655,023
)


(5.19
)Total fair value

$
4,973,011



2.22
%    *
    
    Due to rounding. 8




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##### 



Citigroup
    Fairfield Futures Fund L.P. II
    Notes to Financial Statements
    June 30, 2008
    (Unaudited)
   CMF
    Graham Capital Master Fund L.P.
    Schedule of Investments
    December 31, 2007
    (Unaudited)
  % of PartnersFair Value


CapitalFutures Contracts PurchasedEnergy

$
184,162



0.09
%Grains


219,977



0.10Indices


8,906



0.00
*Interest Rates U.S


(2,712
)


(0.00
)*Interest Rates Non-U.S


98,371



0.05Metals


68,690



0.03Softs


(18,009
)


(0.01
)Total futures contracts purchased


559,385



0.26Futures Contracts SoldEnergy


(76,360
)


(0.04
)Indices


31,940



0.02Interest Rates U.S


(67,681
)


(0.03
)Interest Rates Non-U.S


(163,383
)


(0.08
)Livestock


11,482



0.01Softs


(16,495
)


(0.01
)Total futures contracts sold


(280,497
)


(0.13
)Unrealized Appreciation on Open Forward ContractsCurrencies


6,327,560



2.96Metals


464,556



0.22Total unrealized appreciation on open forward contracts


6,792,116



3.18Unrealized Depreciation on Open Forward ContractsCurrencies


(6,976,160
)


(3.26
)Metals


(463,190
)


(0.22
)Total unrealized depreciation on open forward contracts


(7,439,350
)


(3.48
)Total fair value

$
(368,346
)


(0.17
)%    *
    
    Due to rounding 9




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##### 



Citigroup
    Fairfield Futures Fund L.P. II
    Notes to Financial Statements
    June 30, 2008
    (Unaudited)
   CMF
    Graham Capital Master Fund L.P.
    Statements of Income and Expenses and Partners Capital
    (Unaudited)
  Three Months Ended


Six Months EndedJune 30,


June 30,2008


2007


2008


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

$
13,986,004


$
40,092,438


$
32,596,301


$
28,477,615Change in net unrealized appreciation (depreciation) on open
    positions


4,433,123



3,422,488



5,341,357



(2,047,087
)Gain (loss) from trading, net


18,419,127



43,514,926



37,937,658



26,430,528Interest income


601,098



1,899,227



1,515,145



3,998,898Total income (loss)


19,020,225



45,414,153



39,452,803



30,429,426Expenses:Brokerage commissions including clearing fees of $48,719,
    $69,490, $116,862 and $103,387, respectively


339,401



245,540



629,674



426,229Professional fees


8,437



9,785



16,874



20,040Total expenses


347,838



255,325



646,548



446,269Net income (loss)


18,672,387



45,158,828



38,806,255



29,983,157Additions  Limited Partners


1,588,000



3,985,631



2,934,000



11,900,811Redemptions  Limited Partners


(20,803,608
)


(20,307,923
)


(29,433,628
)


(40,271,705
)Distribution of interest income to feeder funds


(601,098
)


(1,899,227
)


(1,515,145
)


(3,998,898
)Net increase (decrease) in Partners Capital


(1,144,319
)


26,937,309



10,791,482



(2,386,635
)Partners Capital, beginning of period


225,530,188



197,349,572



213,594,387



226,673,516Partners Capital, end of period

$
224,385,869


$
224,286,881


$
224,385,869


$
224,286,881Net Asset Value per Redeemable Unit of Limited Partnership
    Interest (164,846.3481 and 198,531.9370 Redeemable Units
    outstanding at June 30, 2008 and 2007, respectively)

$
1,361.18


$
1,129.73


$
1,361.18


$
1,129.73Net income (loss) per Redeemable Unit of Limited Partnership
    Interest

$
112.99


$
222.94


$
223.53


$
153.12  10




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##### 



Citigroup
    Fairfield Futures Fund L.P. II
    Notes to Financial Statements
    June 30, 2008
    (Unaudited)
  CMF
    Graham Capital Master Fund L.P.
    Statements of Cash Flows
    (Unaudited)
  Three Months Ended


Six Months EndedJune 30,


June 30,2008


2007


2008


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

$
18,672,387


$
45,158,828


$
38,806,255


$
29,983,157Adjustments to reconcile net income (loss) to net cash provided
    by (used in) operating activities:Changes in operating assets and liabilities:(Increase) decrease in restricted cash


(3,291,171
)


(14,874,512
)


(12,741,751
)


9,574,622(Increase) decrease in net unrealized appreciation on open
    futures contracts


(3,202,792
)


(1,008,854
)


(2,923,904
)


1,280,687(Increase) decrease in unrealized appreciation on open forward
    contracts


3,974,714



(7,982,151
)


(6,633,126
)


(6,955,245
)(Increase) decrease in interest receivable


(46,511
)


53,804



171,836



91,302Increase (decrease) in net unrealized depreciation on open
    futures contracts


(1,819,674
)










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


(3,385,371
)


5,568,518



4,215,673



7,721,645Accrued expenses:Increase (decrease) in professional fees


(1,491
)


5,272



(3,554
)


14,077Net cash provided by (used in) operating activities


10,900,091



26,920,905



20,891,429



41,710,245Cash flows from financing activities:Proceeds from additions


1,588,000



3,985,631



2,934,000



11,900,811Payments for redemptions


(20,803,608
)


(20,307,923
)


(31,228,985
)


(40,271,705
)Distribution of interest income to feeder funds


(554,587
)


(1,953,031
)


(1,686,981
)


(4,090,200
)Net cash provided by (used in) financing activities


(19,770,195
)


(18,275,323
)


(29,981,966
)


(32,461,094
)Net change in unrestricted cash


(8,870,104
)


8,645,582



(9,090,537
)


9,249,151Unrestricted cash, at beginning of period


190,889,642



170,298,829



191,110,075



169,695,260Unrestricted cash, at end of period

$
182,019,538


$
178,944,411


$
182,019,538


$
178,944,411Non-cash financing activities:Change in redemptions payable

$



$



$
(1,795,357
)

$
Change in distributions payable

$
46,511


$



$
(171,836
)

$
    11




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##### 



Citigroup
    Fairfield Futures Fund L.P. II
    Notes to Financial Statements
    June 30, 2008
    (Unaudited)
  2.
    Financial
    Highlights:    Three Months Ended


Six Months EndedJune 30,


June 30,2008


2007


2008


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

$
70.86


$
158.64


$
140.87


$
87.15Interest income allocated from Master


2.73



7.34



6.55



14.96Expenses**


(14.45
)


(5.85
)


(20.88
)


(11.21
)Increase (decrease) for the period


59.14



160.13



126.54



90.90Net Asset Value per Redeemable Unit, beginning of period


946.30



724.29



878.90



793.52Net Asset Value per Redeemable Unit, end of period

$
1,005.44


$
884.42


$
1,005.44


$
884.42*    Includes Partnership brokerage
    commissions and expenses allocated from Master.**  Excludes Partnership brokerage commissions and
    expenses allocated from Master.Ratios to average net assets:***Three Months Ended


Six Months EndedJune 30,


June 30,2008


2007


2008


2007Net investment income (loss) before allocation to Special
    Limited Partner****


(7.1
)%


(4.0
)%


(6.8
)%


(3.7
)%Operating expenses


8.2
%


7.7
%


8.2
%


7.5
%Allocation to Special Limited Partner


0.8
%



%


0.8
%



%Total expenses and allocation to Special Limited Partner


9.0
%


7.7
%


9.0
%


7.5
%Total return:Total return before allocation to Special Limited Partner


7.1
%


22.1
%


15.3
%


11.5
%Allocation to Special Limited Partner


(0.9
)%



%


(0.9
)%



%Total return after allocation to Special Limited Partner


6.2
%


22.1
%


14.4
%


11.5
%    ***
    
    Annualized (except for allocation to Special Limited Partner, if
    applicable).****
    
    Interest income allocated from Master less total expenses.   12




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##### 



Citigroup
    Fairfield Futures Fund L.P. II
    Notes to Financial Statements
    June 30, 2008
    (Unaudited)
  2.
    Financial
    Highlights (continued):  Financial
    Highlights of the Master:
  Three Months Ended


Six Months EndedJune 30,


June 30,2008


2007


2008


2007Net realized and unrealized gains (losses)*

$
109.41


$
213.63


$
214.98


$
134.22Interest income


3.63



9.36



8.64



19.00Expenses**


(0.05
)


(0.05
)


(0.09
)


(0.10
)Increase (decrease) for the period


112.99



222.94



223.53



153.12Distribution of interest income to feeder funds


(3.63
)


(9.36
)


(8.64
)


(19.00
)Net Asset Value per Redeemable Unit, beginning of period


1,251.82



916.15



1,146.29



995.61Net Asset Value per Redeemable Unit, end of period

$
1,361.18


$
1,129.73


$
1,361.18


$
1,129.73*    Includes brokerage commissions.**  Excludes brokerage commissions.Three Months Ended


Six Months EndedJune 30,


June 30,2008


2007


2008


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


0.5
%


3.1
%


0.8
%


3.4
%Operating expenses


0.6
%


0.5
%


0.6
%


0.4
%Total return


9.0
%


24.3
%


19.5
%


15.4
%    ***
    
    Annualized.****
    
    Interest income less total expenses.    3.
    Trading
    Activities:       13




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##### 



Citigroup
    Fairfield Futures Fund L.P. II
    Notes to Financial Statements
    June 30, 2008
    (Unaudited)
    4.
    Fair
    Value Measurement:  Investments.
  Fair Value Measurements. Fair Value Measurements No. FAS 157-2, Effective Date of FASB Statement No. 157,
    Quoted Prices in





SignificantActive Markets


Significant Other


Unobservablefor Identical


Observable Inputs


Inputs6/30/2008


Assets (Level 1)


(Level 2)


(Level 3)AssetsInvestment in Master

$
69,678,181


$



$
69,678,181


$
Total fair value

$
69,678,181


$



$
69,678,181


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




---



##### 



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


Significant Other


Significantfor Identical


Observable Inputs


Unobservable6/30/2008


Assets (Level 1)


(Level 2)


Inputs (Level 3)AssetsForwards

$
13,425,242


$



$
13,425,242


$
Futures


3,202,792



3,202,792







Total assets


16,628,034



3,202,792



13,425,242



LiabilitiesForwards

$
11,655,023


$



$
11,655,023


$
Total liabilities


11,655,023







11,655,023



Total fair value

$
4,973,011


$
3,202,792


$
1,770,219


$
   5.
    Financial
    Instrument Risks:       15




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##### 



Citigroup
    Fairfield Futures Fund L.P. II
    Notes to Financial Statements
    June 30, 2008
    (Unaudited)
         16




---



##### 



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




---



##### 



Quoted Prices inActive Markets


Significant Other


Significantfor Identical


Observable Inputs


Unobservable6/30/2008


Assets (Level 1)


(Level 2)


Inputs (Level 3)AssetsInvestment in Master

$
69,678,181


$



$
69,678,181


$
Total fair value

$
69,678,181


$



$
69,678,181


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




---



##### 



Quoted Prices inActive Markets


Significant Other


Significantfor Identical


Observable Inputs


Unobservable6/30/2008


Assets (Level 1)


(Level 2)


Inputs (Level 3)AssetsForwards

$
13,425,242


$



$
13,425,242


$
Futures


3,202,792



3,202,792







Total assets


16,628,034



3,202,792



13,425,242



LiabilitiesForwards

$
11,655,023


$



$
11,655,023


$
Total liabilities


11,655,023







11,655,023



Total fair value

$
4,973,011


$
3,202,792


$
1,770,219


$
   Income and Expenses Recognition.
  Forward Foreign Currency Contracts. agreed-upon
  Income Taxes.
      Recent Accounting Pronouncements.
  Results
    of Operations
   19




---



##### 



non-U.S. interest non-U.S. interest
        non-U.S. interest non-U.S. interest
    30-day 3-month and/or 90-day
 20




---



##### 



21




---



##### 



Item 3.
    Quantitative
    and Qualitative Disclosures about Market Risk          one-day
  Form 10-K
  June 30,
    2008
    (Unaudited)
  Three Months Ended June 30, 2008% of Total


High


Low


AverageMarket Sector

Value at Risk


Capital


Value at Risk


Value at Risk


Value at Risk*Currencies: OTC Contracts

$
19,837,251



8.84
%

$
31,973,478


$
18,266,120


$
23,671,018Energy


1,857,150



0.83
%


3,930,500



835,225



2,163,498Grains


1,210,500



0.54
%


1,281,500



203,200



547,016Interest Rates U.S


290,550



0.13
%


638,450



31,860



274,967Interest Rates Non-U.S


1,544,641



0.69
%


3,159,901



546,990



1,836,321Metals: Exchange Traded Contracts


64,000



0.03
%


490,757



8,000



224,419 OTC Contracts


776,696



0.34
%


884,348



151,086



626,188Softs


551,391



0.25
%


609,596



37,571



440,683Indices


3,950,381



1.76
%


4,517,707



631,538



3,473,498Total

$
30,082,560



13.41
%   *
    
    Average month end Values at Risk. 22




---



##### 



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.   23




---



##### 



PART II.
    OTHER INFORMATION  Item 1.
    Legal
    Proceedings  Form 10-K Form 10-Q
  Enron
  Ahlich v. Arthur Andersen, L.L.P. Delgado v. Fastow Pearson v. Fastow Rosen v. Fastow Bullock v. Arthur Andersen, L.L.P. Choucroun v. Arthur Andersen, L.L.P. Guy v. Arthur Andersen, L.L.P. Adams v. Arthur Andersen, L.L.P. Jose v. Arthur Andersen, L.L.P. Odam, et al., v. Enron Corp., et al
      IPO Civil
    Litigation
    Subprime
    Mortgage-Related Litigation
  In Re
    Citigroup Inc. Shareholder Derivative Litigation
  In Re American Home
    Mortgage Securities Litigation
  In Re Countrywide
    Financial Corp. Securities Litigation
  Other
    Matters
    Auction
    Rate Securities
   24




---



##### 



In Re Citigroup Auction Rate securities
    Litigation
    and/or
  Ferguson Family Trust v. Falcon
  Strategies Two LLC, et
    al.
  In re MAT Five Securities
    Litigation
  Item 1A.
    Risk
    Factors  Form 10-K
   25




---



##### 



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



Dollar Value) of(b) Average



of Redeemable Units



Redeemable Units that(a) Total Number



Price Paid



Purchased as Part



May Yet Beof Redeemable



per Redeemable



of Publicly Announced



Purchased Under thePeriod


Units Purchased*



Unit*



Plans or Programs



Plans or ProgramsApril 1, 2008 
    April 30, 2008



1,221.3062



$
950.16




N/A




N/AMay 1, 2008 
    May 31, 2008



202.4520



$
974.79




N/A




N/AJune 1, 2008 
    June 30, 2008



3,198.5768



$
1,005.44




N/A




N/A4,622.3350



$
989.49




N/A




N/A       Item 3.
    Defaults
    Upon Senior Securities  None.  Item 4.
    Submission
    of Matters to a Vote of Security Holders  None.  Item 5.
    Other
    Information  None.  Item 6.
    Exhibits  Regulation S-K Form 10-K
  Rule 13a-14(a)/15d-14(a)
  Rule 13a-14(a)/15d-14(a)
     26




---



##### 



SIGNATURES
    CITIGROUP
    FAIRFIELD FUTURES FUND L.P. II
  By:

Citigroup Managed Futures LLC(General Partner)By:

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

/s/ Jennifer MagroJennifer Magro
    Chief Financial Officer and Director   August 14, 2008