##### Table of Contents



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 WASHINGTON, D.C. 20549
 FORM 10-Q
  þ
    
    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the quarterly period ended June 30, 2010
 OR
 o
    
    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: 000-53764
 SUPERFUND GOLD, L.P.
  Delaware
    
    98-0574019 (Series A); 98-0574020 (Series B)(State or other jurisdiction 
of incorporation or organization)
    
    (I.R.S. Employer Identification No.)
 Superfund Office Building 
P.O. Box 1479
Grand Anse 
St. Georges, Grenada 
West Indies
    
    Not applicable(Address of principal executive offices)
    
    (Zip Code)
 (473) 439-2418
 Not applicable
 þ o
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  Large Accelerated Filer o
    
    Accelerated Filer o
    
    Non-Accelerated Filer o
(Do not check if a smaller reporting company)
    
    Smaller Reporting Company þ
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##### 



PART I  FINANCIAL INFORMATION
 ITEM 1. FINANCIAL STATEMENTS
  PageUnaudited Financial Statements: Superfund Gold, L.P.Statements of Assets and Liabilities as of June 30, 2010 and December 31, 2009
    
    
    3Condensed Schedule of Investments as of June 30, 2010
    
    
    4Condensed Schedule of Investments as of December 31, 2009
    
    
    5Statements of Operations for the Three Months Ended June 30, 2010 and June 30, 2009 and
the Six Months Ended June 30, 2010 and June 30, 2009
    
    
    6Statements of Changes in Net Assets for the Six Months Ended June 30, 2010 and June
30, 2009
    
    
    7Statement of Cash Flows for the Six Months Ended June 30, 2010 and June 30, 2009
    
    
    8Unaudited Financial Statements: Superfund Gold, L.P.  Series AStatements of Assets and Liabilities as of June 30, 2010 and December 31, 2009
    
    
    9Condensed Schedule of Investments as of June 30, 2010
    
    
    10Condensed Schedule of Investments as of December 31, 2009
    
    
    11Statements of Operations for the Three Months Ended June 30, 2010 and June 30, 2009 and
the Six Months Ended June 30, 2010 and June 30, 2009
    
    
    12Statements of Changes in Net Assets for the Six Months Ended June 30, 2010 and June
30, 2009
    
    
    13Statement of Cash Flows for the Six Months Ended June 30, 2010 and June 30, 2009
    
    
    14Unaudited Financial Statements: Superfund Gold, L.P.  Series BStatements of Assets and Liabilities as of June 30, 2010 and December 31, 2009
    
    
    15Condensed Schedule of Investments as of June 30, 2010
    
    
    16Condensed Schedule of Investments as of December 31, 2009
    
    
    17Statements of Operations for the Three Months Ended June 30, 2010 and June 30, 2009 and
the Six Months Ended June 30, 2010 and June 30, 2009
    
    
    18Statements of Changes in Net Assets for the Six Months Ended June 30, 2010 and June 30,
2009
    
    
    19Statements of Cash Flows for the Six Months Ended June 30, 2010 and June 30, 2009
    
    
    20Notes to Series A and Series B Unaudited Financial Statements Dated June 30, 2010
    
    
    21-38EX-31.1EX-31.2EX-32.1EX-32.2
  2




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SUPERFUND GOLD, L.P.
 
 UNAUDITED STATEMENTS OF ASSETS AND LIABILITIES
as of June 30, 2010 and December 31, 2009
 June 30, 2010
    
    
    December 31, 2009ASSETSU.S. Government securities, at fair value,
(amortized cost of $4,598,949 and $4,449,809 as of
June 30, 2010, and December 31, 2009, respectively)
    
    $
    7,548,262
    
    
    $
    5,999,748Due from brokers
    
    
    8,441,768
    
    
    
    6,301,154Futures contracts purchased
    
    
    1,618,400
    
    
    
    Unrealized appreciation on open forward contracts
    
    
    18,662
    
    
    
    81,845Cash
    
    
    1,565,111
    
    
    
    2,672,099Due from affiliate
    
    
    5,599
    
    
    
    Total assets
    
    
    19,197,802
    
    
    
    15,054,846LIABILITIESUnrealized depreciation on open forward contracts
    
    
    35,439
    
    
    
    154,871Futures contracts purchased
    
    
    
    
    
    
    818,974Redemptions payable
    
    
    2,626,108
    
    
    
    9,890Subscription received in advance
    
    
    790,320
    
    
    
    1,864,130Futures contracts sold
    
    
    38,398
    
    
    
    7,812Management fees payable
    
    
    34,367
    
    
    
    22,891Fees payable
    
    
    33,944
    
    
    
    22,346Total liabilities
    
    
    3,558,576
    
    
    
    2,900,914NET ASSETS
    
    $
    15,639,226
    
    
    $
    12,153,932
  3




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##### Table of Contents



SUPERFUND GOLD, L.P.
 
 UNAUDITED CONDENSED SCHEDULE OF INVESTMENTS
as of June 30, 2010
 Percentage ofFace Value
    
    
    Net Assets
    
    
    Fair ValueDebt Securities United States, at fair valueUnited States Treasury Bills due August 26, 2010
(amortized cost $7,548,262), securities are held in
margin accounts as collateral for open futures
and forwards
    
    $
    7,550,000
    
    
    
    48.3
    %
    
    $
    7,548,262Forward contracts, at fair valueUnrealized appreciation on forward contractsCurrency
    
    
    
    
    
    
    0.1
    
    
    
    18,662Total unrealized appreciation on forward contracts
    
    
    
    
    
    
    0.1
    
    
    
    18,662Unrealized depreciation on forward contractsCurrency
    
    
    
    
    
    
    (0.2
    )
    
    
    (35,439
    )Total unrealized depreciation on forward contracts
    
    
    
    
    
    
    (0.2
    )
    
    
    (35,439
    )Total forward contracts, at fair value
    
    
    
    
    
    
    (0.1
    )
    
    
    (10,504
    )Futures contracts, at fair valueFutures contracts purchasedCurrency
    
    
    
    
    
    
    1.1
    
    
    
    173,968Energy
    
    
    
    
    
    
    (0.0)
    *
    
    
    (2,040
    )Financial
    
    
    
    
    
    
    4.0
    
    
    
    631,876Food & Fiber
    
    
    
    
    
    
    0.1
    
    
    
    16,445Indices
    
    
    
    
    
    
    (0.7
    )
    
    
    (108,356
    )Livestock
    
    
    
    
    
    
    (0.1
    )
    
    
    (10,160
    )Metals130 contracts of CMX Gold expiring August 2010
    
    
    
    
    
    
    3.7
    
    
    
    571,850Other
    
    
    
    
    
    
    2.2
    
    
    
    344,817Total Metals
    
    
    
    
    
    
    5.9
    
    
    
    916,667Total futures contracts purchased
    
    
    
    
    
    
    10.3
    
    
    
    1,618,400Futures contracts soldEnergy
    
    
    
    
    
    
    0.1
    
    
    
    7,860Financial
    
    
    
    
    
    
    (0.1
    )
    
    
    (10,431
    )Food & Fiber
    
    
    
    
    
    
    (0.2
    )
    
    
    (31,231
    )Metals
    
    
    
    
    
    
    (0.0)
    *
    
    
    (4,596
    )Total futures contracts sold
    
    
    
    
    
    
    (0.2
    )
    
    
    (38,398
    )Total futures contracts, at fair value
    
    
    
    
    
    
    10.1
    %
    
    $
    1,580,002Futures and forward contracts by country compositionAustralia
    
    
    
    
    
    
    (0.1
    )
    
    
    (7,861
    )European Monetary Union
    
    
    
    
    
    
    1.3
    
    
    
    209,072Great Britain
    
    
    
    
    
    
    1.0
    
    
    
    148,928Japan
    
    
    
    
    
    
    1.8
    
    
    
    276,057United States
    
    
    
    
    
    
    6.7
    
    
    
    1,052,771Other
    
    
    
    
    
    
    (0.7
    )
    
    
    (115,742
    )Total futures and forward contracts by country
    
    
    
    
    
    
    10.0
    %
    
    $
    1,563,225
 
 *
    
    Due to rounding  4




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SUPERFUND GOLD, L.P.
 
 UNAUDITED CONDENSED SCHEDULE OF INVESTMENTS
as of December 31, 2009
 Percentage ofFace Value
    
    
    Net Assets
    
    
    Fair ValueDebt Securities United States, at fair valueUnited States Treasury Bills due February 25, 2010
(amortized cost $5,999,748), securities are held in margin
accounts as collateral for open futures and forwards
    
    $
    6,000,000
    
    
    
    49.4
    %
    
    $
    5,999,748Forward contracts, at fair valueUnrealized appreciation on forward contractsCurrency
    
    
    
    
    
    
    0.7
    
    
    
    81,845Total unrealized appreciation on forward contracts
    
    
    
    
    
    
    0.7
    
    
    
    81,845Unrealized depreciation on forward contractsCurrency
    
    
    
    
    
    
    (1.3
    )
    
    
    (154,871
    )Total unrealized depreciation on forward contracts
    
    
    
    
    
    
    (1.3
    )
    
    
    (154,871
    )Total forward contracts, at fair value
    
    
    
    
    
    
    (0.6
    )
    
    
    (73,026
    )Futures contracts, at fair valueFutures contracts purchasedCurrency
    
    
    
    
    
    
    (0.8
    )
    
    
    (96,686
    )Energy
    
    
    
    
    
    
    0.5
    
    
    
    57,516Financial
    
    
    
    
    
    
    (0.8
    )
    
    
    (93,811
    )Food & Fiber
    
    
    
    
    
    
    1.3
    
    
    
    152,043Indices
    
    
    
    
    
    
    2.1
    
    
    
    257,035Metals104 contracts of CMX Gold expiring February 2010
    
    
    
    
    
    
    (8.8
    )
    
    
    (1,069,890
    )Other
    
    
    
    
    
    
    (0.2
    )
    
    
    (25,181
    )Total Metals
    
    
    
    
    
    
    (9.0
    )
    
    
    (1,095,071
    )Total futures contracts purchased
    
    
    
    
    
    
    (6.7
    )
    
    
    (818,974
    )Futures contracts soldEnergy
    
    
    
    
    
    
    (0.0)
    *
    
    
    (5,650
    )Food & Fiber
    
    
    
    
    
    
    (0.1
    )
    
    
    (17,813
    )Indices
    
    
    
    
    
    
    (0.0)
    *
    
    
    (3,170
    )Livestock
    
    
    
    
    
    
    (0.1
    )
    
    
    (9,190
    )Financial
    
    
    
    
    
    
    0.2
    
    
    
    28,011Total futures contracts sold
    
    
    
    
    
    
    (0.0)
    *
    
    
    (7,812
    )Total futures contracts, at fair value
    
    
    
    
    
    
    (6.7)
    %
    
    $
    (826,786
    )Futures and forward contracts by country compositionAustralian
    
    
    
    
    
    
    0.1
    
    
    
    17,853European Monetary Union
    
    
    
    
    
    
    (0.4
    )
    
    
    (45,043
    )Great Britain
    
    
    
    
    
    
    0.1
    
    
    
    14,810Japan
    
    
    
    
    
    
    0.3
    
    
    
    37,973United States
    
    
    
    
    
    
    (7.8
    )
    
    
    (953,468
    )Other
    
    
    
    
    
    
    0.2
    
    
    
    28,063Total futures and forward contracts by country
    
    
    
    
    
    
    (7.5)
    %
    
    $
    (899,812
    )
 
 *
    
    Due to rounding  5




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SUPERFUND GOLD, L.P.
 
 UNAUDITED STATEMENTS OF OPERATIONS
 Three Months Ended
    
    
    Six Months EndedJune 30,
    
    
    June 30,2010
    
    
    2009
    
    
    2010
    
    
    2009*Investment incomeInterest income
    
    $
    571
    
    
    $
    853
    
    
    $
    1,052
    
    
    $
    853Other Income
    
    
    
    
    
    
    
    
    
    
    5,599
    
    
    
    Total income
    
    
    571
    
    
    
    853
    
    
    
    6,651
    
    
    
    853ExpensesBrokerage commissions
    
    
    132,051
    
    
    
    27,716
    
    
    
    252,232
    
    
    
    27,716Management fee
    
    
    104,246
    
    
    
    25,094
    
    
    
    187,311
    
    
    
    25,094Incentive fee
    
    
    29,803
    
    
    
    
    
    
    
    29,803
    
    
    
    Selling commission
    
    
    68,427
    
    
    
    16,059
    
    
    
    123,380
    
    
    
    16,059Operating expenses
    
    
    34,749
    
    
    
    8,364
    
    
    
    62,437
    
    
    
    8,364Other
    
    
    660
    
    
    
    1,102
    
    
    
    856
    
    
    
    1,102Total expenses
    
    
    369,936
    
    
    
    78,335
    
    
    
    656,019
    
    
    
    78,335Net investment loss
    
    
    (369,365
    )
    
    
    (77,482
    )
    
    
    (649,368
    )
    
    
    (77,482
    )Realized and unrealized gain
(loss) on investmentsNet realized gain (loss)
on futures and forward
contracts
    
    
    1,899,211
    
    
    
    (223,686
    )
    
    
    240,440
    
    
    
    (223,686
    )Net change in unrealized
appreciation
(depreciation) on futures
and forward contracts:
    
    
    (928,523
    )
    
    
    (108,630
    )
    
    
    2,463,037
    
    
    
    (108,630
    )Net gain (loss) on investments
    
    
    970,688
    
    
    
    (332,316
    )
    
    
    2,703,477
    
    
    
    (332,316
    )Net increase (decrease) in
net assets from operations
    
    $
    601,323
    
    
    $
    (409,798
    )
    
    $
    2,054,109
    
    
    $
    (409,798
    )
  
 *
    
    Data reflect the Three Months Ended June 30, 2009. The Funds inception was April 1, 2009. 6




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SUPERFUND GOLD, L.P.
 
 UNAUDITED STATEMENTS OF CHANGES IN NET ASSETS
 Six Months EndedJune 30,2010
    
    
    2009*Increase (decrease) in net assets from operationsNet investment loss
    
    $
    (649,368
    )
    
    $
    (77,482
    )Net realized gain (loss) on futures and forward contracts
    
    
    240,440
    
    
    
    (223,686
    )Net change in unrealized appreciation (depreciation) on
futures and forward
contracts
    
    
    2,463,037
    
    
    
    (108,630
    )Net increase (decrease) in net assets from operations
    
    
    2,054,109
    
    
    
    (409,798
    )Capital share transactionsIssuance of Units
    
    
    5,815,221
    
    
    
    6,936,796Redemption of Units
    
    
    (4,384,036
    )
    
    
    Redemption of non-unitized capital balance
    
    
    
    
    
    
    (4,000
    )Net increase in net assets from capital share transactions
    
    
    1,431,185
    
    
    
    6,932,796Net increase in net assets
    
    
    3,485,294
    
    
    
    6,522,997Net assets,beginning of period
    
    
    12,153,932
    
    
    
    4,000Net assets,end of period
    
    $
    15,639,226
    
    
    $
    6,526,997
  
 *
    
    Data reflect the Three Months Ended June 30, 2009. The Funds inception was April 1, 2009. 7




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SUPERFUND GOLD, L.P.
 
 UNAUDITED STATEMENTS OF CASH FLOWS
 Six Months EndedJune 30,2010
    
    
    2009*Cash flows from operating activitiesNet increase (decrease) in net assets from operations
    
    $
    2,054,109
    
    
    $
    (409,798
    )Adjustments to reconcile net increase (decrease) in net assets
from operations to net cash used in operating activities:Changes in operating assets and liabilities:Purchases of U.S. government securities
    
    
    (12,845,935
    )
    
    
    (1,649,836
    )Maturities of U.S. government securities
    
    
    11,300,000
    
    
    
    Amortization of discounts and premiums
    
    
    (2,579
    )
    
    
    237Due from brokers
    
    
    (2,140,614
    )
    
    
    (4,971,944
    )Due to affiliate
    
    
    
    
    
    
    4,000Due from affiliate
    
    
    (5,599
    )
    
    
    Unrealized appreciation on open forward contracts
    
    
    63,183
    
    
    
    9,427Unrealized depreciation on open forward contracts
    
    
    (119,432
    )
    
    
    Futures contracts purchased
    
    
    (2,437,374
    )
    
    
    99,200Futures contracts sold
    
    
    30,586
    
    
    
    3Management fees payable
    
    
    11,476
    
    
    
    Fees payable
    
    
    11,598
    
    
    
    22,710Net cash used in operating activities
    
    
    (4,080,581
    )
    
    
    (6,896,002
    )Cash flows from financing activitiesSubscriptions, net of change in advance subscriptions
    
    
    4,741,411
    
    
    
    7,847,774Redemptions, net of change in redemptions payable
    
    
    (1,767,818
    )
    
    
    Redemptions of non-unitized capital balance
    
    
    
    
    
    
    (4,000
    )Net cash provided by financing activities
    
    
    2,973,593
    
    
    
    7,843,744Net increase (decrease) in cash
    
    
    (1,106,988
    )
    
    
    947,722Cash, beginning of period
    
    
    2,672,099
    
    
    
    4,000Cash, end of period
    
    $
    1,565,111
    
    
    $
    951,772
  
 *
    
    Data reflect the Three Months Ended June 30, 2009. The Funds inception was April 1, 2009. 8




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SUPERFUND GOLD, L.P.  SERIES A
 
 UNAUDITED STATEMENTS OF ASSETS AND LIABILITIES
as of June 30, 2010 and December 31, 2009
 June 30, 2010
    
    
    December 31, 2009ASSETSU.S. Government securities, at fair value
(amortized cost of $2,949,313 and $1,549,939 as of
June 30, 2010, and December 31, 2009, respectively)
    
    $
    2,949,313
    
    
    $
    1,549,939Due from brokers
    
    
    3,535,346
    
    
    
    1,794,485Futures contracts purchased
    
    
    597,420
    
    
    
    Unrealized appreciation on open forward contracts
    
    
    2,406
    
    
    
    Cash
    
    
    1,140,554
    
    
    
    1,739,581Due from affiliate
    
    
    5,599
    
    
    
    Total assets
    
    
    8,230,638
    
    
    
    5,084,005LIABILITIESUnrealized depreciation on open forward contracts
    
    
    8,679
    
    
    
    Futures contracts purchased
    
    
    
    
    
    
    278,229Redemptions payable
    
    
    25,177
    
    
    
    Subscriptions received in advance
    
    
    590,320
    
    
    
    1,355,500Futures contracts sold
    
    
    8,902
    
    
    
    3,078Management fees payable
    
    
    14,284
    
    
    
    6,463Fees payable
    
    
    14,626
    
    
    
    6,380Total liabilities
    
    
    661,988
    
    
    
    1,649,650NET ASSETS
    
    $
    7,568,650
    
    
    $
    3,434,355Superfund Gold, L.P. Series A-1 Net Assets
    
    $
    5,884,471
    
    
    $
    2,524,291Number of Units outstanding
    
    
    4,899.287
    
    
    
    2,388.395Superfund Gold, L.P. Series A-1 Net Asset Value per Unit
    
    $
    1,201.09
    
    
    $
    1,056.90Superfund Gold, L.P. Series A-2 Net Assets
    
    $
    1,684,179
    
    
    $
    910,064Number of Units outstanding
    
    
    1,323.797
    
    
    
    818.846Superfund Gold, L.P. Series A-2 Net Asset Value per Unit
    
    $
    1,272.23
    
    
    $
    1,111.40
  9




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##### Table of Contents



SUPERFUND GOLD, L.P.  SERIES A
 
 UNAUDITED CONDENSED SCHEDULE OF INVESTMENTS
as of June 30, 2010
 Percentage ofFace Value
    
    
    Net Assets
    
    
    Fair ValueDebt Securities United States, at fair valueUnited States Treasury Bills due August 26, 2010
(amortized cost $2,949,313), securities are held in margin accounts as collateral for open futures and
forwards
    
    $
    2,950,000
    
    
    
    39.0
    %
    
    $
    2,949,313Forward contracts, at fair valueUnrealized appreciation on forward contractsCurrency
    
    
    
    
    
    
    0.0
    *
    
    
    2,406Total unrealized appreciation on forward contracts
    
    
    
    
    
    
    0.0
    *
    
    
    2,406Unrealized depreciation on forward contractsCurrency
    
    
    
    
    
    
    (0.1
    )
    
    
    (8,679
    )Total unrealized depreciation on forward contracts
    
    
    
    
    
    
    (0.1
    )
    
    
    (8,679
    )Total forward contracts, at fair value
    
    
    
    
    
    
    (0.1
    )
    
    
    (6,273
    )Futures contracts, at fair valueFutures Contracts PurchasedCurrency
    
    
    
    
    
    
    0.7
    
    
    
    54,856Energy
    
    
    
    
    
    
    0.0
    *
    
    
    595Financial
    
    
    
    
    
    
    2.5
    
    
    
    191,518Food & Fiber
    
    
    
    
    
    
    0.1
    
    
    
    6,007Indices
    
    
    
    
    
    
    (0.3
    )
    
    
    (23,798
    )Livestock
    
    
    
    
    
    
    (0.0)
    *
    
    
    (3,110
    )Metals
    
    
    
    
    
    
    4.9
    
    
    
    371,352Total futures contracts purchased
    
    
    
    
    
    
    7.9
    
    
    
    597,420Futures Contracts SoldEnergy
    
    
    
    
    
    
    0.1
    
    
    
    3,940Financial
    
    
    
    
    
    
    (0.1
    )
    
    
    (2,806
    )Food & Fiber
    
    
    
    
    
    
    (0.1
    )
    
    
    (10,036
    )Total futures contracts sold
    
    
    
    
    
    
    (0.1
    )
    
    
    (8,902
    )Total futures contracts, at fair value
    
    
    
    
    
    
    7.8
    
    
    
    588,518Futures and forward contracts by country compositionAustralia
    
    
    
    
    
    
    (0.0)
    *
    
    
    (1,925
    )European Monetary Union
    
    
    
    
    
    
    0.8
    
    
    
    62,735Great Britain
    
    
    
    
    
    
    0.6
    
    
    
    47,305Japan
    
    
    
    
    
    
    1.2
    
    
    
    89,335United States
    
    
    
    
    
    
    5.5
    
    
    
    415,506Other
    
    
    
    
    
    
    (0.4
    )
    
    
    (30,711
    )Total futures and forward contracts by country
    
    
    
    
    
    
    7.7
    %
    
    $
    582,245
 
 *
    
    Due to rounding  10




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##### Table of Contents



SUPERFUND GOLD, L.P.  SERIES A
 
 UNAUDITED CONDENSED SCHEDULE OF INVESTMENTS
as of December 31, 2009
 Percentage ofFace Value
    
    
    Net Assets
    
    
    Fair ValueDebt Securities United States, at fair valueUnited States Treasury Bills due February 25, 2010
(amortized cost $1,549,939), securities are held
in margin accounts as collateral for
open futures and forwards$
    1,550,000
    
    
    
    45.1
    %
    
    $
    1,549,939Futures Contracts, at fair valueFutures Contracts PurchasedCurrency
    
    
    
    
    
    
    (0.4
    )
    
    
    (15,097
    )Energy
    
    
    
    
    
    
    (0.0)
    *
    
    
    (1,336
    )Financial
    
    
    
    
    
    
    (0.3
    )
    
    
    (8,773
    )Food & Fiber
    
    
    
    
    
    
    0.5
    
    
    
    18,003Indices
    
    
    
    
    
    
    0.5
    
    
    
    15,844Metals35 contracts of CMX Gold expiring February 2010
    
    
    
    
    
    
    (6.8
    )
    
    
    (263,040
    )Other
    
    
    
    
    
    
    (1.6
    )
    
    
    (23,830
    )Total Metals
    
    
    
    
    
    
    (8.4
    )
    
    
    (286,870
    )Total futures contracts purchased
    
    
    
    
    
    
    (8.1
    )
    
    
    (278,229
    )Futures Contracts SoldEnergy
    
    
    
    
    
    
    (0.0)
    *
    
    
    (780
    )Financial
    
    
    
    
    
    
    0.0
    *
    
    
    845Food & Fiber
    
    
    
    
    
    
    (0.1
    )
    
    
    (2,063
    )Livestock
    
    
    
    
    
    
    (0.0)
    *
    
    
    (1,080
    )Total futures contracts sold
    
    
    
    
    
    
    (0.1
    )
    
    
    (3,078
    )Total futures contracts, at fair value
    
    
    
    
    
    
    (8.2
    )
    
    
    (281,307
    )Futures contracts by country compositionEuropean Monetary Union
    
    
    
    
    
    
    (0.4
    )
    
    
    (14,015
    )United States
    
    
    
    
    
    
    (8.1
    )
    
    
    (277,640
    )Other
    
    
    
    
    
    
    0.3
    
    
    
    10,348Total futures contracts by country
    
    
    
    
    
    
    (8.2)
    %
    
    $
    (281,307
    )
 
 *
    
    Due to rounding  11




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##### Table of Contents



SUPERFUND GOLD, L.P.  SERIES A
 
 UNAUDITED STATEMENTS OF OPERATIONS
 Three Months Ended
    
    
    Six Months EndedJune 30,
    
    
    June 30,2010
    
    
    2009
    
    
    2010
    
    
    2009*Investment incomeInterest income
    
    $
    718
    
    
    $
    278
    
    
    $
    920
    
    
    $
    278Other income
    
    
    
    
    
    
    
    
    
    
    5,599
    
    
    
    Total income
    
    
    718
    
    
    
    278
    
    
    
    6,519
    
    
    
    278ExpensesManagement fee
    
    
    41,546
    
    
    
    6,574
    
    
    
    71,958
    
    
    
    6,574Brokerage commissions
    
    
    36,962
    
    
    
    2,146
    
    
    
    67,968
    
    
    
    2,146Incentive fee
    
    
    29,803
    
    
    
    
    
    
    
    29,803
    
    
    
    Selling commission
    
    
    28,747
    
    
    
    5,669
    
    
    
    50,174
    
    
    
    5,669Operating expenses
    
    
    13,849
    
    
    
    2,191
    
    
    
    23,986
    
    
    
    2,191Other
    
    
    34
    
    
    
    87
    
    
    
    46
    
    
    
    87Total expenses
    
    
    150,941
    
    
    
    16,667
    
    
    
    243,935
    
    
    
    16,667Net investment loss
    
    
    (150,223
    )
    
    
    (16,389
    )
    
    
    (237,416
    )
    
    
    (16,389
    )Realized and unrealized gain
(loss) on investmentsNet realized gain on
futures and forward
contracts
    
    
    717,670
    
    
    
    30,456
    
    
    
    307,326
    
    
    
    30,456Net change in unrealized
appreciation
(depreciation) on futures
and forward contracts:
    
    
    (46,317
    )
    
    
    (38,183
    )
    
    
    863,552
    
    
    
    (38,183
    )Net gain (loss) on investments
    
    
    671,353
    
    
    
    (7,727
    )
    
    
    1,170,878
    
    
    
    (7,727
    )Net increase (decrease) in
net assets from operations
    
    $
    521,130
    
    
    $
    (24,116
    )
    
    $
    933,462
    
    
    $
    (24,116
    )Net increase (decrease) in
net assets from operations
per Unit (based upon weighted
average number of units
outstanding during period)
for Series A-1**
    
    $
    85.33
    
    
    $
    (20.29
    )
    
    $
    165.01
    
    
    $
    (20.29
    )Net increase (decrease) in
net assets from operations
per Unit (based upon change
in net asset value per unit
during period) for Series A-1
    
    $
    79.42
    
    
    $
    (15.03
    )
    
    $
    144.19
    
    
    $
    (15.03
    )Net increase in net assets
from operations per Unit
(based upon weighted average
number of units outstanding
during period) for Series
A-2***
    
    $
    88.26
    
    
    $
    15.86
    
    
    $
    180.54
    
    
    $
    15.86Net increase in net assets
from operations per Unit
(based upon change in net
asset value per unit during
period) for Series A-2
    
    $
    88.03
    
    
    $
    26.05
    
    
    $
    160.83
    
    
    $
    26.05
  
 *
    
    Data reflect the Three Months Ended June 30, 2009. The Funds inception was April 1, 2009.**
    
    Weighted average number of Units outstanding for Series A-1 for the Three Months Ended June 30, 2010 and June 30, 2009: 4,774.91 and
1,230.86, respectively; and for the Six Months Ended June 30, 2010 and June 30, 2009: 4,404.14 and 1,230.86, respectively.***
    
    Weighted average number of Units outstanding for Series A-2 for the Three Months Ended June 30, 2010 and June 30, 2009: 1,287.93 and
53.69, respectively; and for the Six Months Ended June 30, 2010 and June 30, 2009: 1,145.08 and 53.69, respectively. 12




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##### Table of Contents



SUPERFUND GOLD, L.P.  SERIES A
 
 UNAUDITED STATEMENTS OF CHANGES IN NET ASSETS
 Six Months EndedJune 30,2010
    
    
    2009*Increase (decrease) in net assets from operationsNet investment loss
    
    $
    (237,416
    )
    
    $
    (16,389
    )Net realized gain on futures and forward contracts
    
    
    307,326
    
    
    
    30,456Net change in unrealized appreciation (depreciation) on futures and forward
contracts
    
    
    863,552
    
    
    
    (38,183
    )Net increase (decrease) in net assets from operations
    
    
    933,462
    
    
    
    (24,116
    )Capital share transactionsIssuance of Units
    
    
    4,044,566
    
    
    
    1,301,296Redemption of Units
    
    
    (843,733
    )
    
    
    Redemption of non-unitized initial capital balance
    
    
    
    
    
    
    (2,000
    )Net increase in net assets from capital share transactions
    
    
    3,200,833
    
    
    
    1,299,296Net increase in net assets
    
    
    4,134,295
    
    
    
    1,275,179Net assets,beginning of period
    
    
    3,434,355
    
    
    
    2,000Net assets,end of period
    
    $
    7,568,650
    
    
    $
    1,277,179Series A-1 Units,beginning of period
    
    
    2,388.395
    
    
    
    Issuance of Series A-1 Units
    
    
    3,204.224
    
    
    
    1,351.985Redemption of Units
    
    
    (693.332
    )
    
    
    Series A-1 Units,end of period
    
    
    4,899.287
    
    
    
    1,351.985Series A-2 Units,beginning of period
    
    
    818.846
    
    
    
    Issuance of Series A-2 Units
    
    
    514.221
    
    
    
    57.481Redemption of Units
    
    
    (9.270
    )
    
    
    Series A-2 Units,end of period
    
    
    1,323.797
    
    
    
    57.481
  
 *
    
    Data reflect the Three Months Ended June 30, 2009. The Funds inception was April 1, 2009. 13




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##### Table of Contents



SUPERFUND GOLD, L.P.  SERIES A
 
 UNAUDITED STATEMENTS OF CASH FLOWS
 Six Months EndedJune 30,2010
    
    
    2009*Cash flows from operating activitiesNet increase (decrease) in net assets from operations
    
    $
    933,462
    
    
    $
    (24,116
    )Adjustments to reconcile net increase (decrease) in net assets from
operations to net cash used in operating activities:Changes in operating assets and liabilities:Purchases of U.S. government securities
    
    
    (4,748,455
    )
    
    
    (499,950
    )Maturities of U.S. government securities
    
    
    3,350,000
    
    
    
    Amortization of discounts and premiums
    
    
    (919
    )
    
    
    73Due from brokers
    
    
    (1,740,861
    )
    
    
    (805,659
    )Due to affiliate
    
    
    
    
    
    
    2,000Due from affiliate
    
    
    (5,599
    )
    
    
    Unrealized appreciation on open forward contracts
    
    
    (2,406
    )
    
    
    Futures contracts purchased
    
    
    (875,649
    )
    
    
    34,036Unrealized depreciation on open forward contracts
    
    
    8,679
    
    
    
    Futures contracts sold
    
    
    5,824
    
    
    
    4,147Management fees payable
    
    
    7,821
    
    
    
    Fees payable
    
    
    8,246
    
    
    
    5,253Net cash used in operating activities
    
    
    (3,059,857
    )
    
    
    (1,284,217
    )Cash flows from financing activitiesSubscriptions, net of change in advance subscriptions
    
    
    3,279,386
    
    
    
    1,508,296Redemptions, net of change in redemptions payable
    
    
    (818,556
    )
    
    
    Redemptions of non-unitized capital balance
    
    
    
    
    
    
    (2,000
    )Net cash provided by financing activities
    
    
    2,460,830
    
    
    
    1,506,296Net increase (decrease) in cash
    
    
    (599,027
    )
    
    
    222,079Cash, beginning of period
    
    
    1,739,581
    
    
    
    2,000Cash, end of period
    
    $
    1,140,554
    
    
    $
    224,079
  
 *
    
    Data reflect the Three Months Ended June 30, 2009. The Funds inception was April 1, 2009. 14




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##### Table of Contents



SUPERFUND GOLD, L.P.  SERIES B
 
 UNAUDITED STATEMENTS OF ASSETS AND LIABILITIES
as of June 30, 2010 and December 31, 2009
 June 30, 2010
    
    
    December 31, 2009ASSETSU.S. Government securities, at fair value,
(amortized cost of $4,598,949 and $4,449,809 as of
June 30, 2010, and December 31, 2009, respectively)
    
    $
    4,598,949
    
    
    $
    4,449,809Due from brokers
    
    
    4,906,422
    
    
    
    4,506,669Futures contracts purchased
    
    
    1,020,980
    
    
    
    Unrealized appreciation on open forward contracts
    
    
    16,256
    
    
    
    81,845Cash
    
    
    424,557
    
    
    
    932,518Total assets
    
    
    10,967,164
    
    
    
    9,970,841LIABILITIESUnrealized depreciation on open forward contracts
    
    
    26,760
    
    
    
    154,871Futures contracts purchased
    
    
    
    
    
    
    540,745Redemptions payable
    
    
    2,600,931
    
    
    
    9,890Subscription received in advance
    
    
    200,000
    
    
    
    508,630Futures contracts sold
    
    
    29,496
    
    
    
    4,734Management fees payable
    
    
    20,083
    
    
    
    16,428Fees payable
    
    
    19,318
    
    
    
    15,966Total liabilities
    
    
    2,896,588
    
    
    
    1,251,264NET ASSETS
    
    $
    8,070,576
    
    
    $
    8,719,577Superfund Gold, L.P. Series B-1 Net Assets
    
    $
    4,942,790
    
    
    $
    6,268,561Number of Units outstanding
    
    
    5,160.026
    
    
    
    7,174.897Superfund Gold, L.P. Series B-1 Net Asset Value per Unit
    
    $
    957.90
    
    
    $
    873.68Superfund Gold, L.P. Series B-2 Net Assets
    
    $
    3,127,786
    
    
    $
    2,451,016Number of Units outstanding
    
    
    3,184.379
    
    
    
    2,763.500Superfund Gold, L.P. Series B-2 Net Asset Value per Unit
    
    $
    982.23
    
    
    $
    886.92
  15




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##### Table of Contents



SUPERFUND GOLD, L.P.  SERIES B
 
 UNAUDITED CONDENSED SCHEDULE OF INVESTMENTS
as of June 30, 2010
 Percentage ofFace Value
    
    
    Net Assets
    
    
    Fair ValueDebt Securities United States, at fair valueUnited States Treasury Bills due August 26, 2010
(amortized cost $4,598,949), securities are held in
margin accounts as collateral for open futures
and forwards
    
    $
    4,600,000
    
    
    
    56.4
    %
    
    $
    4,598,949Forward contracts, at fair valueUnrealized appreciation on forward contractsCurrency
    
    
    
    
    
    
    0.2
    
    
    
    16,256Total unrealized appreciation on forward contracts
    
    
    
    
    
    
    0.2
    
    
    
    16,256Unrealized depreciation on forward contractsCurrency
    
    
    
    
    
    
    (0.3
    )
    
    
    (26,760
    )Total unrealized depreciation on forward contracts
    
    
    
    
    
    
    (0.3
    )
    
    
    (26,760
    )Total forward contracts, at fair value
    
    
    
    
    
    
    (0.1
    )
    
    
    (10,504
    )Futures contracts, at fair valueFutures contracts purchasedCurrency
    
    
    
    
    
    
    1.5
    
    
    
    119,112Energy
    
    
    
    
    
    
    (0.0)
    *
    
    
    (2,635
    )Financial
    
    
    
    
    
    
    5.4
    
    
    
    440,358Food & Fiber
    
    
    
    
    
    
    0.1
    
    
    
    10,438Indices
    
    
    
    
    
    
    (1.0
    )
    
    
    (84,558
    )Livestock
    
    
    
    
    
    
    (0.1
    )
    
    
    (7,050
    )Metals130 contracts of CMX Gold expiring August 2010
    
    
    
    
    
    
    7.0
    
    
    
    571,850Other
    
    
    
    
    
    
    (0.3
    )
    
    
    (26,535
    )Total Metals
    
    
    
    
    
    
    6.7
    
    
    
    545,315Total futures contracts purchased
    
    
    
    
    
    
    12.6
    
    
    
    1,020,980Futures contracts soldEnergy
    
    
    
    
    
    
    0.1
    
    
    
    3,920Financial
    
    
    
    
    
    
    (0.1
    )
    
    
    (7,625
    )Food & Fiber
    
    
    
    
    
    
    (0.3
    )
    
    
    (21,195
    )Metals
    
    
    
    
    
    
    (0.1
    )
    
    
    (4,596
    )Total futures contracts sold
    
    
    
    
    
    
    (0.4
    )
    
    
    (29,496
    )Total futures contracts, at fair value
    
    
    
    
    
    
    12.2
    %
    
    $
    991,484Futures and forward contracts by country compositionAustralia
    
    
    
    
    
    
    (0.1
    )
    
    
    (5,936
    )European Monetary Union
    
    
    
    
    
    
    1.8
    
    
    
    146,337Great Britain
    
    
    
    
    
    
    1.3
    
    
    
    101,623Japan
    
    
    
    
    
    
    2.3
    
    
    
    186,722United States
    
    
    
    
    
    
    7.8
    
    
    
    637,265Other
    
    
    
    
    
    
    (1.0
    )
    
    
    (85,031
    )Total futures and forward contracts by country
    
    
    
    
    
    
    12.1
    %
    
    $
    980,980
 
 *
    
    Due to rounding  16




---



##### Table of Contents



SUPERFUND GOLD, L.P.  SERIES B
 
 UNAUDITED CONDENSED SCHEDULE OF INVESTMENTS
as of December 31, 2009
 Percentage ofFace Value
    
    
    Net Assets
    
    
    Fair ValueDebt Securities United States, at fair valueUnited States Treasury Bills due February 25, 2010
(amortized cost $4,449,809), securities are held in margin
accounts as collateral for open futures and forwards
    
    $
    4,450,000
    
    
    
    51.0
    %
    
    $
    4,449,809Forward contracts, at fair valueUnrealized appreciation on forward contractsCurrency
    
    
    
    
    
    
    0.9
    
    
    
    81,845Total unrealized appreciation on forward contracts
    
    
    
    
    
    
    0.9
    
    
    
    81,845Unrealized depreciation on forward contractsCurrency
    
    
    
    
    
    
    (1.7
    )
    
    
    (154,871
    )Total unrealized depreciation on forward contracts
    
    
    
    
    
    
    (1.7
    )
    
    
    (154,871
    )Total forward contracts, at fair value
    
    
    
    
    
    
    (0.8
    )
    
    
    (73,026
    )Futures contracts, at fair valueFutures contracts purchasedCurrency
    
    
    
    
    
    
    (0.9
    )
    
    
    (81,589
    )Energy
    
    
    
    
    
    
    0.7
    
    
    
    58,852Financial
    
    
    
    
    
    
    (1.0
    )
    
    
    (85,038
    )Food & Fiber
    
    
    
    
    
    
    1.5
    
    
    
    134,040Indices
    
    
    
    
    
    
    2.8
    
    
    
    241,191Metals104 contracts of CMX Gold expiring February 2010
    
    
    
    
    
    
    (9.3
    )
    
    
    (806,850
    )Other
    
    
    
    
    
    
    (0.0)
    *
    
    
    (1,351
    )Total Metals
    
    
    
    
    
    
    (9.3
    )
    
    
    (808,201
    )Total futures contracts purchased
    
    
    
    
    
    
    (6.2
    )
    
    
    (540,745
    )Futures contracts soldEnergy
    
    
    
    
    
    
    (0.1
    )
    
    
    (4,870
    )Food & Fiber
    
    
    
    
    
    
    (0.2
    )
    
    
    (15,750
    )Indices
    
    
    
    
    
    
    (0.0)
    *
    
    
    (3,170
    )Livestock
    
    
    
    
    
    
    (0.1
    )
    
    
    (8,110
    )Financial
    
    
    
    
    
    
    0.3
    
    
    
    27,166Total futures contracts sold
    
    
    
    
    
    
    (0.1
    )
    
    
    (4,734
    )Total futures contracts, at fair value
    
    
    
    
    
    
    (6.3)
    %
    
    $
    (545,479
    )Futures and forward contracts by country compositionAustralian
    
    
    
    
    
    
    0.2
    
    
    
    17,853European Monetary Union
    
    
    
    
    
    
    (0.4
    )
    
    
    (31,028
    )Great Britain
    
    
    
    
    
    
    0.2
    
    
    
    14,810Japan
    
    
    
    
    
    
    0.4
    
    
    
    37,973United States
    
    
    
    
    
    
    (7.7
    )
    
    
    (675,828
    )Other
    
    
    
    
    
    
    0.2
    
    
    
    17,715Total futures and forward contracts by country
    
    
    
    
    
    
    (7.1)
    %
    
    $
    (618,505
    )
 
 *
    
    Due to rounding  17




---



##### Table of Contents



SUPERFUND GOLD, L.P.  SERIES B
 
 UNAUDITED STATEMENTS OF OPERATIONS
 Three Months Ended
    
    
    Six Months EndedJune 30,
    
    
    June 30,2010
    
    
    2009
    
    
    2010
    
    
    2009*Investment incomeInterest income
    
    $
    (147
    )
    
    $
    575
    
    
    $
    132
    
    
    $
    575Total income
    
    
    (147
    )
    
    
    575
    
    
    
    132
    
    
    
    575ExpensesBrokerage commissions
    
    
    95,089
    
    
    
    25,570
    
    
    
    184,264
    
    
    
    25,570Management fee
    
    
    62,700
    
    
    
    18,520
    
    
    
    115,353
    
    
    
    18,520Selling commission
    
    
    39,680
    
    
    
    10,390
    
    
    
    73,206
    
    
    
    10,390Operating expenses
    
    
    20,900
    
    
    
    6,173
    
    
    
    38,451
    
    
    
    6,173Other
    
    
    626
    
    
    
    1,015
    
    
    
    810
    
    
    
    1,015Total expenses
    
    
    218,995
    
    
    
    61,668
    
    
    
    412,084
    
    
    
    61,668Net investment loss
    
    
    (219,142
    )
    
    
    (61,093
    )
    
    
    (411,952
    )
    
    
    (61,093
    )Realized and unrealized gain
(loss) on investmentsNet realized gain (loss)
on futures and forward
contracts
    
    
    1,181,541
    
    
    
    (254,142
    )
    
    
    (66,886
    )
    
    
    (254,142
    )Net change in unrealized
appreciation
(depreciation) on futures
and forward contracts:
    
    
    (882,206
    )
    
    
    (70,447
    )
    
    
    1,599,485
    
    
    
    (70,447
    )Net gain (loss) on investments
    
    
    299,335
    
    
    
    (324,589
    )
    
    
    1,532,599
    
    
    
    (324,589
    )Net increase (decrease) in
net assets from operations
    
    $
    80,193
    
    
    $
    (385,682
    )
    
    $
    1,120,647
    
    
    $
    (385,682
    )Net increase (decrease) in
net assets from operations
per Unit (based upon weighted
average number of units
outstanding during period)
for Series B-1**
    
    $
    7.67
    
    
    $
    (112.27
    )
    
    $
    100.29
    
    
    $
    (112.27
    )Net increase (decrease) in
net assets from operations
per Unit (based upon change
in net asset value per unit
during period) for Series B-1
    
    $
    0.19
    
    
    $
    (82.49
    )
    
    $
    84.22
    
    
    $
    (82.49
    )Net increase (decrease) in
net assets from operations
per Unit (based upon weighted
average number of units
outstanding during period)
for Series B-2***
    
    $
    5.96
    
    
    $
    (81.03
    )
    
    $
    104.43
    
    
    $
    (81.03
    )Net increase (decrease) in
net assets from operations
per Unit (based upon change
in net asset value per unit
during period) for Series B-2
    
    $
    5.11
    
    
    $
    (78.28
    )
    
    $
    95.31
    
    
    $
    (78.28
    )
  
 *
    
    Data reflect the Three Months Ended June 30, 2009. The Funds inception was April 1, 2009.**
    
    Weighted average number of Units outstanding for Series B-1 for the Three Months Ended June 30, 2010 and June 30, 2009: 7,990.92 and 2,420.90,
respectively; and for the Six Months Ended June 30, 2010 and June 30, 2009: 7,928.88 and 2,420.90, respectively.***
    
    Weighted average number of Units outstanding for Series B-2 for the Three Months Ended June 30, 2010 and June 30, 2009: 3,169.35 and 1,405.35,
respectively; for the Six Months Ended June 30, 2010 and June 30, 2009: 3,116.25 and 1,405.35, respectively. 18




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##### Table of Contents



SUPERFUND GOLD, L.P.  SERIES B
 
 UNAUDITED STATEMENTS OF CHANGES IN NET ASSETS
 Six Months EndedJune 30,2010
    
    
    2009*Increase (decrease) in net assets from operationsNet investment loss
    
    $
    (411,952
    )
    
    $
    (61,093
    )Net realized loss on futures and forward contracts
    
    
    (66,886
    )
    
    
    (254,142
    )Net change in unrealized appreciation (depreciation) on futures
and forward
contracts
    
    
    1,599,485
    
    
    
    (70,447
    )Net increase (decrease) in net assets from operations
    
    
    1,120,647
    
    
    
    (385,682
    )Capital share transactionsIssuance of Units
    
    
    1,770,655
    
    
    
    5,635,500Redemption of Units
    
    
    (3,540,303
    )
    
    
    Redemption of non-unitized capital balance
    
    
    
    
    
    
    (2,000
    )Net increase (decrease) in net assets from capital share transactions
    
    
    (1,769,648
    )
    
    
    5,633,500Net increase (decrease) in net assets
    
    
    (649,001
    )
    
    
    5,247,818Net assets,beginning of period
    
    
    8,719,577
    
    
    
    2,000Net assets,end of period
    
    $
    8,070,576
    
    
    $
    5,249,818Series B-1 Units,beginning of period
    
    
    7,174.897
    
    
    
    Issuance of Series B-1 Units
    
    
    1,422.510
    
    
    
    4,485.845Redemption of Units
    
    
    (3,437.381
    )
    
    
    Series B-1 Units,end of period
    
    
    5,160.026
    
    
    
    4,485.845Series B-2 Units,beginning of period
    
    
    2,763.500
    
    
    
    Issuance of Series B-2 Units
    
    
    623.925
    
    
    
    1,777.326Redemption of Units
    
    
    (203.046
    )
    
    
    Series B-2 Units,end of period
    
    
    3,184.379
    
    
    
    1,777.326
  
 *
    
    Data reflect the Three Months Ended June 30, 2009. The Funds inception was April 1, 2009. 19




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##### Table of Contents



SUPERFUND GOLD, L.P.  SERIES B
 
 UNAUDITED STATEMENTS OF CASH FLOWS
 Six Months EndedJune 30,2010
    
    
    2009*Cash flows from operating activitiesNet increase (decrease) in net assets from operations
    
    $
    1,120,647
    
    
    $
    (385,682
    )Adjustments to reconcile net increase (decrease) in net assets
from operations to net cash used in operating activities:Changes in operating assets and liabilities:Purchases of U.S. government securities
    
    
    (8,097,480
    )
    
    
    (1,149,886
    )Maturities of U.S. government securities
    
    
    7,950,000
    
    
    
    Amortization of discounts and premiums
    
    
    (1,660
    )
    
    
    164Due from brokers
    
    
    (399,753
    )
    
    
    (4,166,285
    )Due to affiliate
    
    
    
    
    
    
    2,000Unrealized appreciation on open forward contracts
    
    
    65,589
    
    
    
    9,427Unrealized depreciation on open forward contracts
    
    
    (128,111
    )
    
    
    Futures contracts purchased
    
    
    (1,561,725
    )
    
    
    65,164Futures contracts sold
    
    
    24,762
    
    
    
    (4,144
    )Management fees payable
    
    
    3,655
    
    
    
    Fees payable
    
    
    3,352
    
    
    
    17,457Net cash used in operating activities
    
    
    (1,020,724
    )
    
    
    (5,611,785
    )Cash flows from financing activitiesSubscriptions, net of change in advance subscriptions
    
    
    1,462,025
    
    
    
    6,339,478Redemptions, net of change in redemptions payable
    
    
    (949,262
    )
    
    
    Redemptions of non-unitized capital balance
    
    
    
    
    
    
    (2,000
    )Net cash provided by financing activities
    
    
    512,763
    
    
    
    6,337,478Net increase (decrease) in cash
    
    
    (507,961
    )
    
    
    725,693Cash, beginning of period
    
    
    932,518
    
    
    
    2,000Cash, end of period
    
    $
    424,557
    
    
    $
    727,693
  
 *
    
    Data reflect the Three Months Ended June 30, 2009. The Funds inception was April 1, 2009. 20




---



##### Table of Contents



SUPERFUND GOLD, L.P.
 
 NOTES TO UNAUDITED FINANCIAL STATEMENTS
June 30, 2010
 SUPERFUND GOLD, L.P.
 1. Nature of operations
 Organization and Business
   2. Basis of presentation and significant accounting policies
 Basis of Presentation
   Valuation of Investments in Futures Contracts, Forward Contracts, and U.S. Treasury Bills
   21




---



##### Table of Contents



Translation of Foreign Currency
   Investment Transactions, Investment Income and Expenses
  Income Taxes
  Income Taxes
 Use of Estimates
  Recently Issued Accounting Pronouncements
 ASU 2010-06
 Improving Disclosures about
Fair Value Measurements Fair
Value Measurements and Disclosures
 3. Fair Value Measurements
 Fair Value Measurements and Disclosures
 22




---



##### Table of Contents



Level 1:
    
    Unadjusted quoted prices in active markets that are accessible at
the measurement date for identical, unrestricted assets or
liabilities;Level 2:
    
    Quoted prices in markets that are not considered to be active or
financial instruments for which all significant inputs are
observable, either directly or indirectly;Level 3:
    
    Prices or valuations that require inputs that are both
significant to the fair value measurement and unobservable.
  U.S. Government Securities.
 Derivative Contracts.
    23




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##### Table of Contents



BalanceJune 30,2010
    
    
    Level 1
    
    
    Level 2
    
    
    Level 3ASSETSU.S. Government securities
    
    $
    7,548,262
    
    
    $
    
    
    
    $
    7,548,262
    
    
    $
    Unrealized appreciation on open forward contracts
    
    
    18,662
    
    
    
    
    
    
    
    18,662
    
    
    
    Futures contracts purchased
    
    
    1,618,400
    
    
    
    1,618,400
    
    
    
    
    
    
    
    Total Assets Measured at Fair Value
    
    $
    9,185,324
    
    
    $
    1,618,400
    
    
    $
    7,566,924
    
    
    $
    LIABILITIESUnrealized depreciation on open forward contracts
    
    $
    35,439
    
    
    $
    26,760
    
    
    $
    8,679
    
    
    $
    Futures contracts sold
    
    
    38,398
    
    
    
    8,902
    
    
    
    29,496
    
    
    
    Total Liabilities Measured at Fair Value
    
    $
    73,837
    
    
    $
    35,662
    
    
    $
    38,175
    
    
    $
    
  BalanceJune 30,2010
    
    
    Level 1
    
    
    Level 2
    
    
    Level 3ASSETSU.S. Government securities
    
    $
    2,949,313
    
    
    $
    
    
    
    $
    2,949,313
    
    
    $
    Unrealized appreciation on open forward contracts
    
    
    2,406
    
    
    
    
    
    
    
    2,406
    
    
    
    Futures contracts purchased
    
    
    597,420
    
    
    
    597,420
    
    
    
    
    
    
    
    Total Assets Measured at Fair Value
    
    $
    3,549,139
    
    
    $
    597,420
    
    
    $
    2,951,719
    
    
    $
    LIABILITIESUnrealized depreciation on open forward contracts
    
    $
    8,679
    
    
    $
    
    
    
    $
    8,679
    
    
    $
    Futures contracts sold
    
    
    8,902
    
    
    
    8,902
    
    
    
    
    
    
    
    Total Liabilities Measured at Fair Value
    
    $
    17,581
    
    
    $
    8,902
    
    
    $
    8,679
    
    
    $
    
  BalanceJune 30,2010
    
    
    Level 1
    
    
    Level 2
    
    
    Level 3ASSETSU.S. Government securities
    
    $
    4,598,949
    
    
    $
    
    
    
    $
    4,598,949
    
    
    $
    Unrealized appreciation on open forward contracts
    
    
    16,256
    
    
    
    
    
    
    
    16,256
    
    
    
    Futures contracts purchased
    
    
    1,020,980
    
    
    
    1,020,980
    
    
    
    
    
    
    
    Total Assets Measured at Fair Value
    
    $
    5,636,185
    
    
    $
    1,020,980
    
    
    $
    4,615,205
    
    
    $
    LIABILITIESUnrealized depreciation on open forward contracts
    
    $
    26,760
    
    
    $
    26,760
    
    
    $
    
    
    
    $
    Futures contracts sold
    
    
    29,496
    
    
    
    
    
    
    
    29,496
    
    
    
    Total Liabilities Measured at Fair Value
    
    $
    56,256
    
    
    $
    26,760
    
    
    $
    29,496
    
    
    $
    
 24




---



##### Table of Contents



BalanceDecember 31,2009
    
    
    Level 1
    
    
    Level 2
    
    
    Level 3ASSETSU.S. Government securities
    
    $
    5,999,748
    
    
    $
    
    
    
    $
    5,999,748
    
    
    $
    Unrealized appreciation on open forward contracts
    
    
    81,845
    
    
    
    
    
    
    
    81,845
    
    
    
    Total Assets Measured at Fair Value
    
    $
    6,081,593
    
    
    $
    
    
    
    $
    6,081,593
    
    
    $
    LIABILITIESUnrealized depreciation on open forward contracts
    
    $
    154,871
    
    
    $
    
    
    
    $
    154,871
    
    
    $
    Futures contracts purchased
    
    
    818,974
    
    
    
    818,974
    
    
    
    
    
    
    
    Futures contracts sold
    
    
    7,812
    
    
    
    7,812
    
    
    
    
    
    
    
    Total Liabilities Measured at Fair Value
    
    $
    981,657
    
    
    $
    826,786
    
    
    $
    154,871
    
    
    $
    
  BalanceDecember 31,2009
    
    
    Level 1
    
    
    Level 2
    
    
    Level 3ASSETSU.S. Government securities
    
    $
    1,549,939
    
    
    $
    
    
    
    $
    1,549,939
    
    
    $
    Total Assets Measured at Fair Value
    
    $
    1,549,939
    
    
    $
    
    
    
    $
    1,549,939
    
    
    $
    LIABILITIESFutures contracts purchased
    
    $
    278,229
    
    
    $
    278,229
    
    
    $
    
    
    
    $
    Futures contracts sold
    
    
    3,078
    
    
    
    3,078
    
    
    
    
    
    
    
    Total Liabilities Measured at Fair Value
    
    $
    281,307
    
    
    $
    281,307
    
    
    $
    
    
    
    $
    
  BalanceDecember 31,2009
    
    
    Level 1
    
    
    Level 2
    
    
    Level 3ASSETSU.S. Government securities
    
    $
    4,449,809
    
    
    $
    
    
    
    $
    4,449,809
    
    
    $
    Unrealized appreciation on open forward contracts
    
    
    81,845
    
    
    
    
    
    
    
    81,845
    
    
    
    Total Assets Measured at Fair Value
    
    $
    4,531,654
    
    
    $
    
    
    
    $
    4,531,654
    
    
    $
    LIABILITIESUnrealized depreciation on open forward contracts
    
    $
    154,871
    
    
    $
    
    
    
    $
    154,871
    
    
    $
    Futures contracts purchased
    
    
    540,745
    
    
    
    540,745
    
    
    
    
    
    
    
    Futures contracts sold
    
    
    4,734
    
    
    
    4,734
    
    
    
    
    
    
    
    Total Liabilities Measured at Fair Value
    
    $
    700,350
    
    
    $
    545,479
    
    
    $
    154,871
    
    
    $
    
 4. Disclosure of derivative instruments and hedging activities
 Disclosures about Derivative Instruments and Hedging Activities
 25




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##### Table of Contents



Statement of Assets and
    
    
    Asset Derivatives at
    
    
    Liability DerivativesType of Instrument
    
    Liabilities Location
    
    
    June 30, 2010
    
    
    at June 30, 2010
    
    
    NetForeign exchange contracts
    
    Unrealized appreciation on open forward contracts
    
    $
    18,662
    
    
    $
    
    
    
    $
    18,662Foreign exchange contracts
    
    Unrealized depreciation on open forward contracts
    
    
    
    
    
    
    (35,439
    )
    
    
    (35,439
    )Futures contracts
    
    Futures contracts purchased & futures contacts sold
    
    
    1,618,400
    
    
    
    (38,398
    )
    
    
    1,580,002Totals
    
    
    
    
    
    $
    1,637,062
    
    
    $
    (73,837
    )
    
    $
    1,563,225
  Change in UnrealizedAppreciationDerivatives not
    
    
    
    
    
    
    
    
    (Depreciation) onDesignated as Hedging
    
    Location of Gain (Loss) on
    
    
    Realized Gain (Loss) on
    
    
    DerivativesInstruments under ASC
    
    Derivatives Recognized in
    
    
    Derivatives Recognized
    
    
    Recognized815
    
    Income
    
    
    in Income
    
    
    in IncomeForeign exchange contracts
    
    Net realized loss on futures and forward contracts
    
    $
    (176,916
    )
    
    $
    (23,211
    )Futures contracts
    
    Net realized gain (loss) on futures and forward contracts
    
    
    2,076,127
    
    
    
    (905,312
    )Total
    
    
    
    
    
    $
    1,899,211
    
    
    $
    (928,523
    )
 26




---



##### Table of Contents



Change in UnrealizedAppreciationDerivatives not
    
    
    
    
    
    
    
    
    
    (Depreciation) onDesignated as Hedging
    
    Location of Gain (Loss) on
    
    
    Realized Gain (Loss) on
    
    
    DerivativesInstruments under ASC
    
    Derivatives Recognized in
    
    
    Derivatives Recognized in
    
    
    Recognized815
    
    Income
    
    
    Income
    
    
    in IncomeForeign exchange contracts
    
    Net realized loss on futures and forward contracts
    
    $
    (365,721
    )
    
    $
    56,249Futures contracts
    
    Net realized gain on futures and forward contracts
    
    
    606,161
    
    
    
    2,406,788Total
    
    
    
    
    
    $
    240,440
    
    
    $
    2,463,037
  Change in UnrealizedAppreciationDerivatives not
    
    
    
    
    
    
    
    
    (Depreciation) onDesignated as Hedging
    
    Location of Gain (Loss) on
    
    
    Realized Gain (Loss) on
    
    
    DerivativesInstruments under ASC
    
    Derivatives Recognized in
    
    
    Derivatives Recognized
    
    
    Recognized815
    
    Income
    
    
    in Income
    
    
    in IncomeForeign exchange contracts
    
    Net realized gain on futures and forward contracts
    
    $
    (123,140
    )
    
    $
    (73,026
    )Futures contracts
    
    Net realized gain (loss) on futures and forward contracts
    
    
    1,731,610
    
    
    
    (826,786
    )Total
    
    
    
    
    
    $
    1,608,470
    
    
    $
    (899,812
    )
 As of June 30, 2010Long Positions Gross Unrealized
    
    
    Short Positions Gross Unrealized% of
    
    
    
    
    
    
    % of
    
    
    
    
    
    
    % of
    
    
    
    
    
    
    % of
    
    
    Net UnrealizedNet
    
    
    
    
    
    
    Net
    
    
    
    
    
    
    Net
    
    
    
    
    
    
    Net
    
    
    Gain (Loss) onGains
    
    
    Assets
    
    
    Losses
    
    
    Assets
    
    
    Gains
    
    
    Assets
    
    
    Losses
    
    
    Assets
    
    
    Open PositionsForeign Exchange
    
    $
    16,147
    
    
    
    0.1
    
    
    $
    (36,292
    )
    
    
    (0.2
    )
    
    $
    3,920
    
    
    
    0.0
    *
    
    $
    (552
    )
    
    
    0.0
    *
    
    $
    (16,777
    )Currency
    
    
    216,944
    
    
    
    1.4
    
    
    
    (42,976
    )
    
    
    (0.3
    )
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    173,968Financial
    
    
    631,876
    
    
    
    4.0
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (10,431
    )
    
    
    (0.1
    )
    
    
    621,445Food & Fiber
    
    
    18,901
    
    
    
    0.1
    
    
    
    (2,456
    )
    
    
    (0.0)
    *
    
    
    7,124
    
    
    
    0.0
    *
    
    
    (38,355
    )
    
    
    (0.2
    )
    
    
    (14,786
    )Indices
    
    
    175
    
    
    
    0.0
    *
    
    
    (108,531
    )
    
    
    (0.7
    )
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (108,356
    )Metals
    
    
    949,980
    
    
    
    6.1
    
    
    
    (33,313
    )
    
    
    (0.2
    )
    
    
    
    
    
    
    
    
    
    
    (4,596
    )
    
    
    (0.0)
    *
    
    
    912,071Livestock
    
    
    
    
    
    
    
    
    
    
    (10,160
    )
    
    
    (0.1
    )
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (10,160
    )Energy
    
    
    1,225
    
    
    
    0.0
    *
    
    
    (3,265
    )
    
    
    (0.0)
    *
    
    
    7,860
    
    
    
    0.1
    
    
    
    
    
    
    
    
    
    
    
    5,820Totals
    
    $
    1,835,248
    
    
    
    11.7
    
    
    $
    (236,993
    )
    
    
    (1.5
    )
    
    $
    18,904
    
    
    
    0.1
    
    
    $
    (53,934
    )
    
    
    (0.3
    )
    
    $
    1,563,225
 
 *
    
    Due to rounding 27




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##### Table of Contents



Average Number of
    
    
    Average Number of
    
    
    Average Value of
    
    
    Average Value ofLong Contracts
    
    
    Short Contracts
    
    
    Long Positions
    
    
    Short PositionsForeign Exchange
    
    
    59
    
    
    
    77
    
    
    $
    284,812
    
    
    $
    304,936
 Average Number of Long
    
    
    Average Number ofContracts
    
    
    Short ContractsCurrency
    
    
    498
    
    
    
    Financial
    
    
    1088
    
    
    
    384Food & Fiber
    
    
    123
    
    
    
    135Indices
    
    
    476
    
    
    
    26Metals
    
    
    266
    
    
    
    76Livestock
    
    
    12
    
    
    
    4Energy
    
    
    153
    
    
    
    159Totals
    
    
    2,675
    
    
    
    861
  For the Three Months Ended June 30, 2010Change in NetNet Realized
    
    
    Unrealized
    
    
    Net TradingGain (Losses)
    
    
    Gains (Losses)
    
    
    Gains (Losses)Foreign Exchange
    
    $
    (176,916
    )
    
    $
    (23,211
    )
    
    $
    (200,127
    )Currency
    
    
    (351,331
    )
    
    
    (15,964
    )
    
    
    (367,295
    )Financial
    
    
    1,354,276
    
    
    
    (2,696
    )
    
    
    1,351,580Food & Fiber
    
    
    (58,572
    )
    
    
    (194,849
    )
    
    
    (253,421
    )Indices
    
    
    (367,565
    )
    
    
    (324,725
    )
    
    
    (692,290
    )Metals
    
    
    1,946,471
    
    
    
    474,498
    
    
    
    2,420,969Livestock
    
    
    (13,440
    )
    
    
    (10,160
    )
    
    
    (23,600
    )Energy
    
    
    (433,712
    )
    
    
    (831,416
    )
    
    
    (1,265,128
    )Total net trading gains (losses)
    
    $
    1,899,211
    
    
    $
    (928,523
    )
    
    $
    970,688For the Six Months Ended June 30, 2010Change in NetNet Realized
    
    
    Unrealized
    
    
    Net TradingGain (Losses)
    
    
    Gains (Losses)
    
    
    Gains (Losses)Foreign Exchange
    
    $
    (365,721
    )
    
    $
    56,249
    
    
    $
    (309,472
    )Currency
    
    
    (710,831
    )
    
    
    270,654
    
    
    
    (440,177
    )Financial
    
    
    1,503,854
    
    
    
    687,245
    
    
    
    2,191,099Food & Fiber
    
    
    (176,123
    )
    
    
    (149,016
    )
    
    
    (325,139
    )Indices
    
    
    27,426
    
    
    
    (362,221
    )
    
    
    (334,795
    )Metals
    
    
    481,345
    
    
    
    2,007,142
    
    
    
    2,488,487Livestock
    
    
    (79,160
    )
    
    
    (970
    )
    
    
    (80,130
    )Energy
    
    
    (440,350
    )
    
    
    (46,046
    )
    
    
    (486,396
    )Total net trading gains
    
    $
    240,440
    
    
    $
    2,463,037
    
    
    $
    2,703,477
 28




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##### Table of Contents



Statement of Assets

    
    
    
    
    
    Liabilityand Liabilities

    
    Asset Derivatives
    
    
    Derivatives at JuneType of Instrument
    
    Location

    
    at June 30, 2010
    
    
    30, 2010
    
    
    NetForeign exchange
contracts
    
    Unrealized appreciation on open forward contracts
    
    $
    2,406
    
    
    $
    
    
    
    $
    2,406Foreign exchange
contracts
    
    Unrealized depreciation on open forward contracts
    
    
    
    
    
    
    (8,679
    )
    
    
    (8,679
    )Futures contracts
    
    Futures contracts purchased & futures contacts sold
    
    
    597,420
    
    
    
    (8,902
    )
    
    
    588,518Totals
    
    
    
    
    
    $
    599,826
    
    
    $
    (17,581
    )
    
    $
    582,245
  Change inUnrealizedLocation of Gain
    
    
    Realized Gain
    
    
    AppreciationDerivatives not
    
    (Loss) on
    
    
    (Loss) on
    
    
    (Depreciation) onDesignated as
    
    Derivatives

    
    Derivatives
    
    
    DerivativesHedging Instruments
    
    Recognized in

    
    Recognized in
    
    
    Recognized inunder ASC 815
    
    Income

    
    Income
    
    
    IncomeForeign exchange
contracts
    
    Net realized loss  on futures and forward contracts
    
    $
    (19,919
    )
    
    $
    (10,340
    )Futures contracts
    
    Net realized gain (loss) on futures and forward contracts
    
    
    737,589
    
    
    
    (35,977
    )Total
    
    
    
    
    
    $
    717,670
    
    
    $
    (46,317
    )
  Change inUnrealizedLocation of Gain
    
    
    Realized Gain
    
    
    AppreciationDerivatives not
    
    (Loss) on
    
    
    (Loss) on
    
    
    (Depreciation) onDesignated as
    
    Derivatives

    
    Derivatives
    
    
    DerivativesHedging Instruments
    
    Recognized in

    
    Recognized in
    
    
    Recognized inunder ASC 815
    
    Income

    
    Income
    
    
    IncomeForeign exchange
contracts
    
    Net realized loss on futures and forward contracts
    
    $
    (23,533
    )
    
    $
    (6,274
    )Futures contracts
    
    Net realized gain on futures and forward contracts
    
    
    330,859
    
    
    
    869,826Total
    
    
    
    
    
    $
    307,326
    
    
    $
    863,552
 29




---



##### Table of Contents



Change inUnrealizedLocation of Gain
    
    
    Realized Gain
    
    
    AppreciationDerivatives not
    
    (Loss) on
    
    
    (Loss) on
    
    
    (Depreciation) onDesignated as
    
    Derivatives

    
    Derivatives
    
    
    DerivativesHedging Instruments
    
    Recognized in

    
    Recognized in
    
    
    Recognized inunder ASC 815
    
    Income

    
    Income
    
    
    IncomeForeign exchange
contracts
    
    Net realized gain on futures and forward contracts
    
    $
    866
    
    
    $
    0Futures contracts
    
    Net realized gain (loss) on futures and forward contracts
    
    
    694,820
    
    
    
    (281,307
    )Total
    
    
    
    
    
    $
    695,686
    
    
    $
    (281,307
    )
 As of June 30, 2010Long Positions Gross Unrealized
    
    
    Short Positions Gross Unrealized% of
    
    
    
    
    
    
    % of
    
    
    
    
    
    
    % of
    
    
    
    
    
    
    % of
    
    
    Net UnrealizedNet
    
    
    
    
    
    
    Net
    
    
    
    
    
    
    Net
    
    
    
    
    
    
    Net
    
    
    Gain (Loss) onGains
    
    
    Assets
    
    
    Losses
    
    
    Assets
    
    
    Gains
    
    
    Assets
    
    
    Losses
    
    
    Assets
    
    
    Open PositionsForeign Exchange
    
    $
    2,031
    
    
    
    0.0
    *
    
    $
    (8,679
    )
    
    
    (0.1
    )
    
    $
    375
    
    
    
    0.0
    *
    
    $
    
    
    
    
    
    
    
    $
    (6,273
    )Currency
    
    
    69,244
    
    
    
    0.9
    
    
    
    (14,388
    )
    
    
    (0.2
    )
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    54,856Financial
    
    
    191,518
    
    
    
    2.4
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (2,806
    )
    
    
    (0.0
    )*
    
    
    188,712Food & Fiber
    
    
    6,217
    
    
    
    0.1
    
    
    
    (210
    )
    
    
    (0.0
    )*
    
    
    2,374
    
    
    
    0.0
    *
    
    
    (12,410
    )
    
    
    (0.1
    )
    
    
    (4,029
    )Indices
    
    
    49
    
    
    
    0.0
    *
    
    
    (23,847
    )
    
    
    (0.3
    )
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (23,798
    )Metals
    
    
    378,130
    
    
    
    5.0
    
    
    
    (6,778
    )
    
    
    (0.1
    )
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    371,352Livestock
    
    
    
    
    
    
    
    
    
    
    (3,110
    )
    
    
    (0.0
    )*
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (3,110
    )Energy
    
    
    1,225
    
    
    
    0.0
    *
    
    
    (630
    )
    
    
    (0.0
    )*
    
    
    3,940
    
    
    
    0.1
    
    
    
    
    
    
    
    
    
    
    
    4,535Totals
    
    $
    648,414
    
    
    
    8.4
    
    
    $
    (57,642
    )
    
    
    (0.7
    )
    
    $
    6,689
    
    
    
    0.1
    
    
    $
    (15,216
    )
    
    
    (0.1
    )
    
    $
    582,245
 
 *
    
    Due to rounding  Average Number of
    
    Average Number of
    
    Average Value of
    
    Average Value ofLong Contracts
    
    Short Contracts
    
    Long Positions
    
    Short PositionsForeign Exchange
    
    
    15
    
    
    
    20
    
    
    $
    42,583
    
    
    $
    38,566
 Average Number of Long
    
    
    Average Number ofContracts
    
    
    Short ContractsCurrency
    
    
    147
    
    
    
    Financial
    
    
    320
    
    
    
    110Food & Fiber
    
    
    29
    
    
    
    39Indices
    
    
    127
    
    
    
    6Metals
    
    
    81
    
    
    
    19Livestock
    
    
    4
    
    
    
    1Energy
    
    
    38
    
    
    
    44Totals
    
    
    761
    
    
    
    239
 30




---



##### Table of Contents



For the Three Months Ended June 30, 2010Change in NetNet Realized
    
    
    Unrealized
    
    
    Net TradingGain (Losses)
    
    
    Gains (Losses)
    
    
    Gains (Losses)Foreign Exchange
    
    $
    (19,919
    )
    
    $
    (10,340
    )
    
    $
    (30,259
    )Currency
    
    
    (97,125
    )
    
    
    325
    
    
    
    (96,800
    )Financial
    
    
    369,117
    
    
    
    13,471
    
    
    
    382,588Food & Fiber
    
    
    (9,687
    )
    
    
    (56,820
    )
    
    
    (66,507
    )Indices
    
    
    (74,813
    )
    
    
    (72,251
    )
    
    
    (147,064
    )Metals
    
    
    700,848
    
    
    
    250,812
    
    
    
    951,660Livestock
    
    
    (4,320
    )
    
    
    (3,110
    )
    
    
    (7,430
    )Energy
    
    
    (146,431
    )
    
    
    (168,404
    )
    
    
    (314,835
    )Total net trading gains (losses)
    
    $
    717,670
    
    
    $
    (46,317
    )
    
    $
    671,353
 For the Six Months Ended June 30, 2010Change in NetNet Realized
    
    
    Unrealized
    
    
    Net TradingGain (Losses)
    
    
    Gains (Losses)
    
    
    Gains (Losses)Foreign Exchange
    
    $
    (23,533
    )
    
    $
    (6,274
    )
    
    $
    (29,807
    )Currency
    
    
    (175,095
    )
    
    
    69,953
    
    
    
    (105,142
    )Financial
    
    
    404,283
    
    
    
    196,640
    
    
    
    600,923Food & Fiber
    
    
    (54,002
    )
    
    
    (19,969
    )
    
    
    (73,971
    )Indices
    
    
    3,642
    
    
    
    (39,642
    )
    
    
    (36,000
    )Metals
    
    
    312,321
    
    
    
    658,223
    
    
    
    970,544Livestock
    
    
    (17,650
    )
    
    
    (2,030
    )
    
    
    (19,680
    )Energy
    
    
    (142,640
    )
    
    
    6,651
    
    
    
    (135,989
    )Total net trading gains
    
    $
    307,326
    
    
    $
    863,552
    
    
    $
    1,170,878
   Statement of Assets
    
    
    
    
    
    
    Liabilityand Liabilities
    
    
    Asset Derivatives
    
    
    Derivatives at JuneType of Instrument
    
    Location
    
    
    at June 30, 2010
    
    
    30, 2010
    
    
    NetForeign exchange
contracts
    
    Unrealized appreciation on open forward contracts
    
    $
    16,256
    
    
    $
    
    
    
    $
    16,256Foreign exchange
contracts
    
    Unrealized depreciation on open forward contracts
    
    
    
    
    
    
    (26,760
    )
    
    
    (26,760
    )Futures contracts
    
    Futures contracts purchased & futures contacts sold
    
    
    1,020,980
    
    
    
    (29,496
    )
    
    
    991,484Totals
    
    
    
    
    
    $
    1,037,236
    
    
    $
    (56,256
    )
    
    $
    980,980
 31




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##### Table of Contents



Change in UnrealizedDerivatives not

    
    
    
    
    
    
    
    AppreciationDesignated as Hedging

    
    Location of Gain (Loss) on
    
    Realized Gain (Loss) on
    
    
    (Depreciation) onInstruments under ASC

    
    Derivatives Recognized in
    
    Derivatives Recognized in
    
    
    Derivatives Recognized815

    
    Income
    
    Income
    
    
    in IncomeForeign Exchange contracts
    
    Net realized loss on futures and forward contracts
    
    $
    (156,997
    )
    
    $
    (12,871
    )Futures contracts
    
    Net realized gain (loss) on futures and forward contracts
    
    
    1,338,538
    
    
    
    (869,335
    )Total
    
    
    
    $
    1,181,541
    
    
    $
    (882,206
    )
  Change in UnrealizedDerivatives not

    
    
    
    
    
    
    
    AppreciationDesignated as Hedging

    
    Location of Gain (Loss) on
    
    Realized Gain (Loss) on
    
    
    (Depreciation) onInstruments under ASC

    
    Derivatives Recognized in
    
    Derivatives Recognized in
    
    
    Derivatives Recognized815

    
    Income
    
    Income
    
    
    in IncomeForeign Exchange contracts
    
    Net realized gain (loss) on futures and forward contracts
    
    $
    (342,188
    )
    
    $
    62,523Futures contracts
    
    Net realized gain on futures and forward contracts
    
    
    275,302
    
    
    
    1,536,962Total
    
    
    
    $
    (66,886
    )
    
    $
    1,599,485
  Change in UnrealizedDerivatives not

    
    
    
    
    
    
    
    AppreciationDesignated as Hedging

    
    Location of Gain (Loss) on
    
    Realized Gain (Loss) on
    
    
    (Depreciation) onInstruments under ASC

    
    Derivatives Recognized in
    
    Derivatives Recognized in
    
    
    Derivatives Recognized815

    
    Income
    
    Income
    
    
    in IncomeForeign Exchange contracts
    
    Net realized loss on futures and forward contracts
    
    $
    (124,006
    )
    
    $
    (73,026
    )Futures contracts
    
    Net realized gain (loss) on futures and forward contracts
    
    
    1,036,790
    
    
    
    (545,479
    )Total
    
    
    
    $
    912,784
    
    
    $
    (618,505
    )
 32




---



##### Table of Contents



As of June 30, 2010Long Positions Gross Unrealized
    
    
    Short Positions Gross Unrealized% of
    
    
    
    
    
    
    % of
    
    
    
    
    
    
    % of
    
    
    
    
    
    
    % of
    
    
    Net UnrealizedNet
    
    
    
    
    
    
    Net
    
    
    
    
    
    
    Net
    
    
    
    
    
    
    Net
    
    
    Gain (Loss) onGains
    
    
    Assets
    
    
    Losses
    
    
    Assets
    
    
    Gains
    
    
    Assets
    
    
    Losses
    
    
    Assets
    
    
    Open PositionsForeign Exchange
    
    $
    14,116
    
    
    
    0.2
    
    
    $
    (27,613
    )
    
    
    (0.3
    )
    
    $
    3,545
    
    
    
    0.0
    *
    
    $
    (552
    )
    
    
    (0.0)
    *
    
    $
    (10,504
    )Currency
    
    
    147,700
    
    
    
    1.9
    
    
    
    (28,588
    )
    
    
    (0.4
    )
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    119,112Financial
    
    
    440,358
    
    
    
    5.4
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (7,625
    )
    
    
    (0.1
    )
    
    
    432,733Food & Fiber
    
    
    12,684
    
    
    
    0.1
    
    
    
    (2,246
    )
    
    
    (0.0)
    *
    
    
    4,750
    
    
    
    0.0
    *
    
    
    (25,945
    )
    
    
    (0.3
    )
    
    
    (10,757
    )Indices
    
    
    126
    
    
    
    0.0
    
    
    
    (84,684
    )
    
    
    (1.0
    )
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (84,558
    )Metals
    
    
    571,850
    
    
    
    7.0
    
    
    
    (26,535
    )
    
    
    (0.3
    )
    
    
    
    
    
    
    
    
    
    
    (4,596
    )
    
    
    (0.1
    )
    
    
    540,719Livestock
    
    
    
    
    
    
    
    
    
    
    (7,050
    )
    
    
    (0.1
    )
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (7,050
    )Energy
    
    
    
    
    
    
    
    
    
    
    (2,635
    )
    
    
    (0.0)
    *
    
    
    3,920
    
    
    
    0.1
    
    
    
    
    
    
    
    
    
    
    
    1,285Totals
    
    $
    1,186,834
    
    
    
    14.6
    
    
    $
    (179,351
    )
    
    
    (2.1
    )
    
    $
    12,215
    
    
    
    0.1
    
    
    $
    (38,718
    )
    
    
    (0.5
    )
    
    $
    980,980
 
 *
    
    Due to rounding  Average Number
    
    
    Average
    
    
    Average Value
    
    
    Average Valueof Long
    
    
    Number of Short
    
    
    of Long
    
    
    of ShortContracts
    
    
    Contracts
    
    
    Positions
    
    
    PositionsForeign Exchange
    
    
    44
    
    
    
    57
    
    
    $
    242,229
    
    
    $
    266,370
 Average Number
    
    
    Averageof Long
    
    
    Number of ShortContracts
    
    
    ContractsCurrency
    
    
    351
    
    
    
    Financial
    
    
    768
    
    
    
    274Food & Fiber
    
    
    94
    
    
    
    96Indices
    
    
    349
    
    
    
    20Metals
    
    
    185
    
    
    
    57Livestock
    
    
    8
    
    
    
    3Energy
    
    
    115
    
    
    
    115Totals
    
    
    1,914
    
    
    
    622
  For the Three Months Ended June 30, 2010Change in NetNet Realized
    
    
    Unrealized
    
    
    Net TradingGain (Losses)
    
    
    Gains (Losses)
    
    
    Gains (Losses)Foreign Exchange
    
    $
    (156,997
    )
    
    $
    (12,871
    )
    
    $
    (169,868
    )Currency
    
    
    (254,206
    )
    
    
    (16,289
    )
    
    
    (270,495
    )Financial
    
    
    985,159
    
    
    
    (16,167
    )
    
    
    968,992Food & Fiber
    
    
    (48,885
    )
    
    
    (138,029
    )
    
    
    (186,914
    )Indices
    
    
    (292,752
    )
    
    
    (252,474
    )
    
    
    (545,226
    )Metals
    
    
    1,245,623
    
    
    
    223,686
    
    
    
    1,469,309Livestock
    
    
    (9,120
    )
    
    
    (7,050
    )
    
    
    (16,170
    )Energy
    
    
    (287,281
    )
    
    
    (663,012
    )
    
    
    (950,293
    )Total net trading gains (losses)
    
    $
    1,181,541
    
    
    $
    (882,206
    )
    
    $
    299,335
 33




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##### Table of Contents



For the Six Months Ended June 30, 2010Change in NetNet Realized
    
    
    Unrealized
    
    
    Net TradingGain (Losses)
    
    
    Gains (Losses)
    
    
    Gains (Losses)Foreign Exchange
    
    $
    (342,188
    )
    
    $
    62,523
    
    
    $
    (279,665
    )Currency
    
    
    (535,736
    )
    
    
    200,701
    
    
    
    (335,035
    )Financial
    
    
    1,099,571
    
    
    
    490,605
    
    
    
    1,590,176Food & Fiber
    
    
    (122,121
    )
    
    
    (129,047
    )
    
    
    (251,168
    )Indices
    
    
    23,784
    
    
    
    (322,579
    )
    
    
    (298,795
    )Metals
    
    
    169,024
    
    
    
    1,348,919
    
    
    
    1,517,943Livestock
    
    
    (61,510
    )
    
    
    1,060
    
    
    
    (60,450
    )Energy
    
    
    (297,710
    )
    
    
    (52,697
    )
    
    
    (350,407
    )Total net trading gains (losses)
    
    $
    (66,886
    )
    
    $
    1,599,485
    
    
    $
    1,532,599
 5. Due from/to brokers
   6. Allocation of net profits and losses
   7. Related party transactions
   8. Financial highlights
  2010Series A-1
    
    
    Series A-2
    
    
    Series B-1
    
    
    Series B-2Total ReturnTotal return before incentive fees
    
    
    13.6
    %
    
    
    14.5
    %
    
    
    9.6
    %
    
    
    10.7
    %Incentive fees
    
    
    0.0
    %
    
    
    0.0
    %
    
    
    0.0
    %
    
    
    0.0
    %Total return after incentive fees
    
    
    13.6
    %
    
    
    14.5
    %
    
    
    9.6
    %
    
    
    10.7
    %
 34




---



##### Table of Contents



2010Series A-1
    
    
    Series A-2
    
    
    Series B-1
    
    
    Series B-2Ratios to average partners capital*Operating expenses before incentive fees
    
    
    7.5
    %
    
    
    5.4
    %
    
    
    8.8
    %
    
    
    6.8
    %Incentive fees
    
    
    0.4
    %
    
    
    0.7
    %
    
    
    0.0
    %
    
    
    0.0
    %Total expenses
    
    
    7.9
    %
    
    
    6.1
    %
    
    
    8.8
    %
    
    
    6.8
    %Net investment loss*
    
    
    (7.2
    )%
    
    
    (5.4
    )%
    
    
    (8.8
    )%
    
    
    (6.8
    )%Net asset value per unit, beginning of period
    
    $
    1,056.90
    
    
    $
    1,111.40
    
    
    $
    873.68
    
    
    $
    886.92Net investment loss
    
    
    (45.15
    )
    
    
    (39.65
    )
    
    
    (40.00
    )
    
    
    (31.32
    )Net gain on investments
    
    
    189.34
    
    
    
    200.48
    
    
    
    124.22
    
    
    
    126.63Net asset value per unit, end of period
    
    $
    1,201.09
    
    
    $
    1,272.23
    
    
    $
    957.90
    
    
    $
    982.23Other per Unit information:Net increase in net assets from operations
per Unit (based upon weighted average Number
of Units during period)
    
    $
    165.01
    
    
    $
    180.54
    
    
    $
    100.29
    
    
    $
    104.43Net increase in net assets from operations
per Unit (based upon change in net asset
value per Unit)
    
    $
    144.19
    
    
    $
    160.83
    
    
    $
    84.22
    
    
    $
    95.31
 
 *
    
    Annualized for periods less than a year  2009Series A-1
    
    
    Series A-2
    
    
    Series B-1
    
    
    Series B-2Total ReturnTotal return before incentive fees
    
    
    (1.6
    )%
    
    
    2.8
    %
    
    
    (9.0
    )%
    
    
    (8.5
    )%Incentive fees
    
    
    0.0
    %
    
    
    0.0
    %
    
    
    0.0
    %
    
    
    0.0
    %Total return after incentive fees
    
    
    (1.6
    )%
    
    
    2.8
    %
    
    
    (9.0
    )%
    
    
    (8.5
    )%Ratios to average partners capital*Operating expenses before incentive fees
    
    
    5.9
    %
    
    
    4.0
    %
    
    
    9.5
    %
    
    
    6.3
    %Incentive fees
    
    
    0.0
    %
    
    
    0.0
    %
    
    
    0.0
    %
    
    
    0.0
    %Total expenses
    
    
    5.9
    %
    
    
    4.0
    %
    
    
    9.5
    %
    
    
    6.3
    %Net investment loss*
    
    
    (5.8
    )%
    
    
    (3.9
    )%
    
    
    (9.4
    )%
    
    
    (6.2
    )%Net asset value per unit, beginning of period
    
    $
    919.50
    
    
    $
    919.50
    
    
    $
    919.50
    
    
    $
    919.50Net investment loss
    
    
    (13.29
    )
    
    
    (6.20
    )
    
    
    (20.24
    )
    
    
    (13.48
    )Net gain on investments
    
    
    (1.74
    )
    
    
    32.25
    
    
    
    (62.25
    )
    
    
    (64.80
    )Net asset value per unit, end of period
    
    $
    904.47
    
    
    $
    945.55
    
    
    $
    837.01
    
    
    $
    841.22Other per Unit information:Net increase in net assets from operations
per Unit (based upon weighted average Number
of Units during period)
    
    $
    (20.29
    )
    
    $
    15.86
    
    
    $
    (112.27
    )
    
    $
    (81.03
    )Net increase in net assets from operations
per Unit (based upon change in net asset
value per Unit)
    
    $
    (15.03
    )
    
    $
    26.05
    
    
    $
    (82.49
    )
    
    $
    (78.28
    )
 
 *
    
    Annualized for periods less than a year  2010Series A-1
    
    
    Series A-2
    
    
    Series B-1
    
    
    Series B-2Total ReturnTotal return before incentive fees
    
    
    7.1
    %
    
    
    7.4
    %
    
    
    0.0
    %
    
    
    0.5
    %Incentive fees
    
    
    0.0
    %
    
    
    0.0
    %
    
    
    0.0
    %
    
    
    0.0
    %Total return after incentive fees
    
    
    7.1
    %
    
    
    7.4
    %
    
    
    0.0
    %
    
    
    0.5
    %
 35




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##### Table of Contents



2010Series A-1
    
    
    Series A-2
    
    
    Series B-1
    
    
    Series B-2Ratios to average partners capital*Operating expenses before incentive fees
    
    
    7.1
    %
    
    
    5.1
    %
    
    
    8.5
    %
    
    
    6.5
    %Incentive fees
    
    
    0.4
    %
    
    
    0.5
    %
    
    
    0.0
    %
    
    
    0.0
    %Total expenses
    
    
    7.5
    %
    
    
    5.6
    %
    
    
    8.5
    %
    
    
    6.5
    %Net investment loss*
    
    
    (7.1
    )%
    
    
    (5.1
    )%
    
    
    (8.5
    )%
    
    
    (6.5
    )%Net asset value per unit, beginning of period
    
    $
    1,121.67
    
    
    $
    1,184.20
    
    
    $
    957.71
    
    
    $
    977.12Net investment loss
    
    
    (25.26
    )
    
    
    (22.56
    )
    
    
    (20.75
    )
    
    
    (16.30
    )Net gain (loss) on investments
    
    
    104.68
    
    
    
    110.59
    
    
    
    20.94
    
    
    
    21.41Net asset value per unit, end of period
    
    $
    1,201.09
    
    
    $
    1,272.23
    
    
    $
    957.90
    
    
    $
    982.23Other per Unit information:Net increase in net assets from operations
per Unit (based upon weighted average Number
of Units during period)
    
    $
    85.33
    
    
    $
    88.26
    
    
    $
    7.67
    
    
    $
    5.96Net increase in net assets from operations
per Unit (based upon change in net asset
value per Unit)
    
    $
    79.42
    
    
    $
    88.03
    
    
    $
    0.19
    
    
    $
    5.11
 
 *
    
    Annualized for periods less than a year  2009Series A-1
    
    
    Series A-2
    
    
    Series B-1
    
    
    Series B-2Total ReturnTotal return before incentive fees
    
    
    (1.6
    )%
    
    
    2.8
    %
    
    
    (9.0
    )%
    
    
    (8.5
    )%Incentive fees
    
    
    0.0
    %
    
    
    0.0
    %
    
    
    0.0
    %
    
    
    0.0
    %Total return after incentive fees
    
    
    (1.6
    )%
    
    
    2.8
    %
    
    
    (9.0
    )%
    
    
    (8.5
    )%Ratios to average partners capital*Operating expenses before incentive fees
    
    
    5.9
    %
    
    
    4.0
    %
    
    
    9.5
    %
    
    
    6.3
    %Incentive fees
    
    
    0.0
    %
    
    
    0.0
    %
    
    
    0.0
    %
    
    
    0.0
    %Total expenses
    
    
    5.9
    %
    
    
    4.0
    %
    
    
    9.5
    %
    
    
    6.3
    %Net investment loss*
    
    
    (5.8
    )%
    
    
    (3.9
    )%
    
    
    (9.4
    )%
    
    
    (6.2
    )%Net asset value per unit, beginning of period
    
    $
    919.50
    
    
    $
    919.50
    
    
    $
    919.50
    
    
    $
    919.50Net investment loss
    
    
    (13.29
    )
    
    
    (6.20
    )
    
    
    (20.24
    )
    
    
    (13.48
    )Net gain (loss) on investments
    
    
    (1.74
    )
    
    
    32.25
    
    
    
    (62.25
    )
    
    
    (64.80
    )Net asset value per unit, end of period
    
    $
    904.47
    
    
    $
    945.55
    
    
    $
    837.01
    
    
    $
    841.22Other per Unit information:Net increase in net assets from operations
per Unit (based upon weighted average Number
of Units during period)
    
    $
    (20.29
    )
    
    $
    15.86
    
    
    $
    (112.27
    )
    
    $
    (81.03
    )Net increase in net assets from operations
per Unit (based upon change in net asset
value per Unit)
    
    $
    (15.03
    )
    
    $
    26.05
    
    
    $
    (82.49
    )
    
    $
    (78.28
    )
 
 *
    
    Annualized for periods less than a year  9. Financial instrument risk
  36




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##### Table of Contents



10. Subscriptions and redemptions
   37




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##### Table of Contents



11. Subsequent events
  ITEM 2.
    
    MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
 INTRODUCTION
  LIQUIDITY
    CAPITAL RESOURCES
  RESULTS OF OPERATIONS
 Three Months Ended June 30, 2010
 nd
  38




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##### Table of Contents



Three Months Ended March 31, 2010
 st
  39




---



##### Table of Contents



Three Months Ended June 30, 2009
 nd
  40




---



##### Table of Contents



OFF-BALANCE SHEET RISK
   41




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##### Table of Contents



OFF-BALANCE SHEET ARRANGEMENTS
  CONTRACTUAL OBLIGATIONS
  CRITICAL ACCOUNTING POLICIES  VALUATION OF THE FUNDS POSITIONS
  RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS
 ASU 2010-06
 Improving Disclosures about Fair Value Measurements Fair Value Measurements and
Disclosures
 ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
  ITEM 4T. CONTROLS AND PROCEDURES
  42




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##### Table of Contents



PART II  OTHER INFORMATION
 ITEM 1. LEGAL PROCEEDINGS
  ITEM 1A. RISK FACTORS
  ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
 (a)
    
    There were no sales of unregistered securities during the quarter ended June 30, 2010.(b)
    
    Updated information required by Item 701(f) of Regulation S-K:
 (1)
    
    The use of proceeds information is being disclosed for Registration Statement
No. 333-151632 declared effective on February 17, 2009.(4)
    
    (iv) As of June 30, 2010, the Fund sold $5,794,689 of Series A-1 Units,
$1,443,907 of Series A-2 Units, $7,585,985 of Series B-1 Units, and $2,993,975 of
Series B-2 Units.
 (v)
    
    As of June 30, 2010, the Fund incurred expenses for the account of the Fund
totaling $1,169,535 of which $954,217 was paid to Superfund Capital Management and
$215,318 was paid to Superfund USA.(vi)
    
    Net offering proceeds to the Fund as of June 30, 2010 were $16,649,021.(vii)
    
    As of June 30, 2010, the amount of net offering proceeds to the Fund for
commodity futures and forward trading in accordance with Superfund Capital
Managements trading program totaled $16,649,021.
 (c)
    
    Pursuant to the Limited Partnership Agreement, investors may redeem their Units at the end of
each calendar month at the then current month-end Net Asset Value per Unit. The redemption of
Units has no impact on the value of Units that remain outstanding, and Units are not reissued
once redeemed.The following tables summarize the redemptions by investors during the three months ended
June 30, 2010:
  Net Asset ValueMonth
    
    Units Redeemed
    
    
    per Unit ($)April 30, 2010
    
    
    590.641
    
    
    
    1,222.43May 31, 2010
    
    
    0.000
    
    
    
    1,165.20June 30, 2010
    
    
    11.143
    
    
    
    1,201.09Total
    
    
    601.784
  Net Asset ValueMonth
    
    Units Redeemed
    
    
    per Unit ($)April 30, 2010
    
    
    0.000
    
    
    
    1,290.52May 31, 2010
    
    
    0.000
    
    
    
    1,232.16June 30, 2010
    
    
    9.270
    
    
    
    1,272.23Total
    
    
    9.270
 43




---



##### Table of Contents



Net Asset ValueMonth
    
    Units Redeemed
    
    
    per Unit ($)April 30, 2010
    
    
    665.654
    
    
    
    1,071.50May 31, 2010
    
    
    11.805
    
    
    
    931.72June 30, 2010
    
    
    2,715.241
    
    
    
    957.90Total
    
    
    3,392.700
  Net Asset ValueMonth
    
    Units Redeemed
    
    
    per Unit ($)April 30, 2010
    
    
    34.488
    
    
    
    1,095.04May 31, 2010
    
    
    0.000
    
    
    
    953.78June 30, 2010
    
    
    0.000
    
    
    
    982.23Total
    
    
    34.488
 ITEM 3. DEFAULTS UPON SENIOR SECURITIES
  ITEM 4. (REMOVED AND RESERVED)
 ITEM 5. OTHER INFORMATION
  ITEM 6. EXHIBITS
  31.1
    
    Rule 13a-14(a)/15d-14(a) Certification of Principal Executive Officer31.2
    
    Rule 13a-14(a)/15d-14(a) Certification of Principal Financial Officer32.1
    
    Section 1350 Certification of Principal Executive Officer32.2
    
    Section 1350 Certification of Principal Financial Officer
 44




---



##### Table of Contents



SIGNATURES
  Date: August 23, 2010
    SUPERFUND GOLD, L.P.
       (Registrant)By:
    Superfund Capital Management, Inc.General PartnerBy:
    /s/ Nigel JamesNigel JamesPresident and Principal Executive OfficerBy:
    /s/ Martin SchneiderMartin SchneiderVice President and Principal Financial Officer 45




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##### Table of Contents



Exhibit Number
    
    Description of Document
    
    Page Number31.1
    
    Rule 13a-14(a)/15d-14(a) Certification of Principal Executive Officer
    
    E-231.2
    
    Rule 13a-14(a)/15d-14(a) Certification of Principal Financial Officer
    
    E-332.1
    
    Section 1350 Certification of Principal Executive Officer
    
    E-432.2
    
    Section 1350 Certification of Principal Financial Officer
    
    E-5
 E-1