##### Table of Contents



UNITED STATES
    SECURITIES AND EXCHANGE COMMISSION
    WASHINGTON, D.C. 20549
  FORM 10-Q
  (X) QUARTERLY REPORT PURSUANT TO SECTION 13 or
    15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
  For the quarterly period ended June 30, 2010
  OR ( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR
    15(d)
    OF THE SECURITIES EXCHANGE ACT OF 1934
  
  0-53210
  ABINGDON FUTURES FUND L.P.
    New York

20-3845005(State or other jurisdiction of
    incorporation or organization)

(I.R.S. Employer
    Identification No.)   c/o Ceres
    Managed Futures LLC
 522 Fifth
Avenue -
    14th
    Floor
 New York, New York 10036
    (212) 296-1999
      Yes X  No
    Yes   No
  Rule 12b-2
  Large accelerated filer

Accelerated filer

Non-accelerated filerX

Smaller reporting company  rule 12b-2
  Yes   No X




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##### 



ABINGDON FUTURES FUND L.P.
 FORM 10-Q
 INDEX
 PageNumberPART I - Financial Information:Item 1.


Financial Statements:Statements of Financial Condition at
June 30, 2010 and December 31, 2009 (unaudited)

3Statements of Income and Expenses and Changes
in Partners Capital for the three and six months ended June 30, 2010 and 2009 (unaudited)

4Notes to Financial Statements, including the Financial Statements of CMF Winton Master L.P. (unaudited)

5  19Item 2.


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

20  22Item 3.


Quantitative and Qualitative Disclosures about Market Risk

23Item 4.


Controls and Procedures

24PART II - Other Information

25  27Exhibits EX - 31.1
    
    CertificationEX - 31.2
    
    CertificationEX - 32.1
    
    CertificationEX - 32.2
    
    CertificationEX-31.1EX-31.2EX-32.1EX-32.2
  2




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##### Table of Contents



PART I
 
 Item 1. Financial Statements
 
 Abingdon Futures Fund L.P.
Statements of Financial Condition
(Unaudited)
 June 30,
    
    
    December 31,2010
    
    
    2009Assets:Investment in Master, at fair value
    
    $
    139,281,938
    
    
    $
    123,045,654Cash
    
    
    208,482
    
    
    
    250,959Total assets
    
    
    139,490,420
    
    
    $
    123,296,613Liabilities and Partners CapitalLiabilities:Accrued expenses:Brokerage fees
    
    $
    523,089
    
    
    $
    462,362Management fees
    
    
    231,406
    
    
    
    204,490Administrative fees
    
    
    57,851
    
    
    
    51,123Other
    
    
    123,947
    
    
    
    139,960Redemptions payable
    
    
    546,769
    
    
    
    1,652,699Total liabilities
    
    
    1,483,062
    
    
    
    2,510,634Partners Capital:General
Partner, 1,878.6760 and 1,689.1726 unit equivalents
outstanding at June 30, 2010
and December 31, 2009, respectively
    
    
    2,087,265
    
    
    
    1,801,570Limited Partners, 122,336.6109 and 111,560.6462 Redeemable Units outstanding at June 30, 2010
and December 31, 2009, respectively
    
    
    135,920,093
    
    
    
    118,984,409Total partners capital
    
    
    138,007,358
    
    
    
    120,785,979Total liabilities and partners capital
    
    $
    139,490,420
    
    
    $
    123,296,613Net asset
value per unit
    
    $
    1,111.03
    
    
    $
    1,066.54
  3




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##### Table of Contents



Abingdon Futures Fund L.P.
Statements of Income and Expenses and Changes in Partners Capital
(Unaudited)
 Three Months
    
    
    Six MonthsEnded June 30,
    
    
    Ended June 30,2010
    
    
    2009
    
    
    2010
    
    
    2009Income:Net realized gains (losses) on closed contracts allocated from Master
    
    $
    7,275,336
    
    
    $
    (8,369,573
    )
    
    $
    8,637,814
    
    
    $
    (7,167,066
    )Change in net unrealized gains (losses) on open contracts allocated from Master
    
    
    (3,187,271
    )
    
    
    527,094
    
    
    
    1,459,877
    
    
    
    (1,760,577
    )Interest income allocated from Master
    
    
    33,242
    
    
    
    25,359
    
    
    
    48,505
    
    
    
    52,682Expenses allocated from Master
    
    
    (40,755
    )
    
    
    (23,711
    )
    
    
    (77,086
    )
    
    
    (41,058
    )Total income (loss)
    
    
    4,080,552
    
    
    
    (7,840,831
    )
    
    
    10,069,110
    
    
    
    (8,916,019
    )Expenses:Brokerage fees
    
    
    1,527,197
    
    
    
    1,400,821
    
    
    
    2,942,979
    
    
    
    2,794,965Management fees
    
    
    675,616
    
    
    
    619,487
    
    
    
    1,301,817
    
    
    
    1,236,048Administrative fees
    
    
    168,903
    
    
    
    154,871
    
    
    
    325,453
    
    
    
    309,011Other
    
    
    79,102
    
    
    
    87,607
    
    
    
    161,172
    
    
    
    226,202Total expenses
    
    
    2,450,818
    
    
    
    2,262,786
    
    
    
    4,731,421
    
    
    
    4,566,226Net income (loss)
    
    
    1,629,734
    
    
    
    (10,103,617
    )
    
    
    5,337,689
    
    
    
    (13,482,245
    )Additions  Limited Partners
    
    
    11,853,000
    
    
    
    18,685,000
    
    
    
    21,146,000
    
    
    
    39,235,000Additions  General Partner
    
    
    
    
    
    
    
    
    
    
    200,000
    
    
    
    Redemptions  Limited Partners
    
    
    (3,912,268
    )
    
    
    (5,859,132
    )
    
    
    (9,462,310
    )
    
    
    (20,458,664
    )Net increase (decrease) in Partners Capital
    
    
    9,570,466
    
    
    
    2,722,251
    
    
    
    17,221,379
    
    
    
    5,294,091Partners Capital, beginning of period
    
    
    128,436,892
    
    
    
    117,316,840
    
    
    
    120,785,979
    
    
    
    114,745,000Partners Capital, end of period
    
    $
    138,007,358
    
    
    $
    120,039,091
    
    
    $
    138,007,358
    
    
    $
    120,039,091Net asset
value per unit
(124,215.2869 and 111,057.9453 units
outstanding at June 30, 2010 and 2009, respectively)
    
    $
    1,111.03
    
    
    $
    1,080.87
    
    
    $
    1,111.03
    
    
    $
    1,080.87Net income
(loss) per Redeemable Unit and
General Partner unit equivalent
    
    $
    13.36
    
    
    $
    (90.64
    )
    
    $
    44.49
    
    
    $
    (123.33
    )Weighted average units outstanding
    
    
    121,867.3848
    
    
    
    111,999.3431
    
    
    
    119,706.4998
    
    
    
    107,563.0223
  4




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##### Table of Contents



Abingdon Futures Fund L.P.
Notes to Financial Statements
June 30, 2010
(Unaudited)
 1. General:
         5




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##### Table of Contents



Abingdon Futures Fund L.P.
Notes to Financial Statements
June 30, 2010
(Unaudited)
     6




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##### Table of Contents



Abingdon Futures Fund L.P.
Notes to Financial Statements
June 30, 2010
(Unaudited)
  CMF Winton Master L.P.
Statements of Financial Condition
(Unaudited)
 June 30,
    
    
    December 31,2010
    
    
    2009Assets:Equity in trading account:Cash
    
    $
    695,455,126
    
    
    $
    533,704,028Cash margin
    
    
    56,068,583
    
    
    
    38,915,256Net unrealized appreciation on open futures contracts
    
    
    16,570,459
    
    
    
    144,283Net unrealized appreciation on open forward contracts
    
    
    
    
    
    
    1,698,400Options
purchased, at fair value (cost $45,345 and $34,613
at June 30, 2010 and December 31, 2009, respectively)
    
    
    141,225
    
    
    
    17,723Total assets
    
    $
    768,235,393
    
    
    $
    574,479,690Liabilities and Partners Capital:Liabilities:Net unrealized depreciation on open forward contracts
    
    $
    7,400,845
    
    
    $
    Options
premium received, at fair value (premium $87,155 and $77,101 at
June 30, 2010 and December 31, 2009, respectively)
    
    
    276,235
    
    
    
    40,733Accrued expenses:Professional fees
    
    
    12,803
    
    
    
    30,644Total liabilities
    
    
    7,689,883
    
    
    
    71,377Partners Capital:General
Partner, 0.0000 unit equivalents at June 30, 2010
and December 31, 2009
    
    
    
    
    
    
    Limited Partners, 366,031.5997 and 298,540.2381 units outstanding at June 30, 2010 and December 31, 2009, respectively
    
    
    760,545,510
    
    
    
    574,408,313Total liabilities and partners capital
    
    $
    768,235,393
    
    
    $
    574,479,690Net asset
value per unit
    
    $
    2,077.81
    
    
    $
    1,924.06
 7




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##### Table of Contents



Abingdon Futures Fund L.P.
Notes to Financial Statements
June 30, 2010
(Unaudited)
 CMF Winton Master L.P.
Condensed Schedule of Investments
June 30, 2010
(Unaudited)
 Notional ($)/
Number of
    
    
    
    
    
    
    % of PartnersContracts
    
    
    Fair Value
    
    
    CapitalFutures
Contracts PurchasedCurrencies
    
    
    2,374
    
    
    $
    1,807,798
    
    
    
    0.24
    %Energy
    
    
    109
    
    
    
    (442,280
    )
    
    
    (0.06
    )Grains
    
    
    155
    
    
    
    (14,730
    )
    
    
    (0.00
    ) *Indices
    
    
    484
    
    
    
    (1,462,140
    )
    
    
    (0.19
    )Interest Rates U.S.
    
    
    8,095
    
    
    
    10,903,309
    
    
    
    1.43Interest Rates Non-U.S.
    
    
    8,462
    
    
    
    8,323,559
    
    
    
    1.09Livestock
    
    
    251
    
    
    
    (102,540
    )
    
    
    (0.01
    )Metals
    
    
    830
    
    
    
    2,653,135
    
    
    
    0.35Softs
    
    
    173
    
    
    
    71,034
    
    
    
    0.01Total futures contracts purchased
    
    
    
    
    
    
    21,737,145
    
    
    
    2.86Futures Contracts SoldCurrencies
    
    
    2,656
    
    
    
    (6,944,081
    )
    
    
    (0.91
    )Energy
    
    
    523
    
    
    
    243,807
    
    
    
    0.03Grains
    
    
    2,001
    
    
    
    559,142
    
    
    
    0.07Indices
    
    
    598
    
    
    
    1,509,694
    
    
    
    0.20Interest Rates Non-U.S.
    
    
    102
    
    
    
    (48,202
    )
    
    
    (0.01
    )Metals
    
    
    17
    
    
    
    (1,688
    )
    
    
    (0.00
    ) *Softs
    
    
    323
    
    
    
    (485,358
    )
    
    
    (0.06
    )Total futures contracts sold
    
    
    
    
    
    
    (5,166,686
    )
    
    
    (0.68
    )Unrealized Appreciation on Open Forward ContractsCurrencies
    
    $
    10,923,081
    
    
    
    77,465
    
    
    
    0.01Metals
    
    
    651
    
    
    
    4,387,553
    
    
    
    0.58Total unrealized appreciation on open forward contracts
    
    
    
    
    
    
    4,465,018
    
    
    
    0.59Unrealized Depreciation on Open Forward ContractsCurrencies
    
    $
    9,468,243
    
    
    
    (137,224
    )
    
    
    (0.02
    )Metals
    
    
    819
    
    
    
    (11,728,639
    )
    
    
    (1.54
    )Total unrealized depreciation on open forward contracts
    
    
    
    
    
    
    (11,865,863
    )
    
    
    (1.56
    )Options PurchasedPutsIndices
    
    
    61
    
    
    
    141,225
    
    
    
    0.02Total options purchased
    
    
    
    
    
    
    141,225
    
    
    
    0.02Options
Premium ReceivedPutsIndices
    
    
    61
    
    
    
    (276,235
    )
    
    
    (0.04
    )Total
options premium received
    
    
    
    
    
    
    (276,235
    )
    
    
    (0.04
    )Total fair value
    
    
    
    
    
    $
    9,034,604
    
    
    
    1.19
    %
 
 *
    
    Due to rounding. 8




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##### Table of Contents



Abingdon Futures Fund L.P.
Notes to Financial Statements
June 30, 2010
(Unaudited)
 CMF Winton Master L.P.
Condensed Schedule of Investments
December 31, 2009
(Unaudited)
 Number of





% of PartnersContracts


Fair Value


CapitalFutures Contracts PurchasedCurrencies


2,173


$
(1,932,735
)


(0.34
)%Energy


81



105,489



0.02Grains


396



285,441



0.05Indices


3,920



2,883,282



0.50Interest Rates U.S.


1,552



(374,223
)


(0.06
)Interest Rates
    Non-U.S.


4,180



(115,797
)


(0.02
)Livestock


76



38,000



0.01Metals


664



(417,248
)


(0.07
)Softs


356



476,861



0.08Total futures contracts purchased






949,070



0.17Futures Contracts SoldCurrencies


227



(127,300
)


(0.02
)Energy


192



(494,271
)


(0.09
)Grains


501



(17,304
)


(0.00
)*Indices


12



(10,333
)


(0.00
)*Interest Rates U.S.


180



44,187



0.01Interest Rates
    Non-U.S.


166



(31,275
)


(0.01
)Livestock


111



(56,000
)


(0.01
)Softs


129



(112,491
)


(0.02
)Total futures contracts sold






(804,787
)


(0.14
)Unrealized Appreciation on Open Forward ContractsMetals


310



2,433,189



0.43Total unrealized appreciation on open forward contracts






2,433,189



0.43Unrealized Depreciation on Open Forward ContractsMetals


163



(734,789
)


(0.13
)Total unrealized depreciation on open forward contracts






(734,789
)


(0.13
)Options PurchasedPutsIndices


65



17,723



0.00
*Total options purchased






17,723



0.00Options Premium ReceivedPutsIndices


65



(40,733
)


(0.01
)Total options premium received






(40,733
)


(0.01
)Total fair value





$
1,819,673



0.32
% 
 *
    
    Due to rounding. 9




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##### Table of Contents



Abingdon Futures Fund L.P.
Notes to Financial Statements
June 30, 2010
(Unaudited)
 CMF Winton Master L.P.
Statements of Income and Expenses and Changes in Partners Capital

(Unaudited)
 Three Months Ended
    
    
    Six Months EndedJune 30,
    
    
    June 30,2010
    
    
    2009
    
    
    2010
    
    
    2009Income:Net gains (losses) on trading of commodity interests:Net realized gains (losses) on closed contracts
    
    $
    39,644,882
    
    
    $
    (33,779,156
    )
    
    $
    47,255,828
    
    
    $
    (28,425,518
    )Change in net unrealized gains (losses) on open contracts
    
    
    (17,478,423
    )
    
    
    1,942,550
    
    
    
    7,214,253
    
    
    
    (8,206,996
    )Gain (loss) from trading, net
    
    
    22,166,459
    
    
    
    (31,836,606
    )
    
    
    54,470,081
    
    
    
    (36,632,514
    )Interest income
    
    
    207,606
    
    
    
    114,301
    
    
    
    298,381
    
    
    
    249,263Total income (loss)
    
    
    22,374,065
    
    
    
    (31,722,305
    )
    
    
    54,768,462
    
    
    
    (36,383,251
    )Expenses:Clearing fees
    
    
    185,859
    
    
    
    86,538
    
    
    
    355,703
    
    
    
    154,405Professional fees
    
    
    35,330
    
    
    
    9,452
    
    
    
    52,695
    
    
    
    18,682Total expenses
    
    
    221,189
    
    
    
    95,990
    
    
    
    408,398
    
    
    
    173,087Net income (loss)
    
    
    22,152,876
    
    
    
    (31,818,295
    )
    
    
    54,360,064
    
    
    
    (36,556,338
    )Additions  Limited Partners
    
    
    88,662,703
    
    
    
    70,398,741
    
    
    
    206,716,928
    
    
    
    130,326,043Redemptions  Limited Partners
    
    
    (39,966,516
    )
    
    
    (74,936,608
    )
    
    
    (74,641,414
    )
    
    
    (144,460,211
    )Distribution of interest income to feeder funds
    
    
    (207,606
    )
    
    
    (114,301
    )
    
    
    (298,381
    )
    
    
    (249,263
    )Net increase (decrease) in Partners Capital
    
    
    70,641,457
    
    
    
    (36,470,463
    )
    
    
    186,137,197
    
    
    
    (50,939,769
    )Partners Capital, beginning of period
    
    
    689,904,053
    
    
    
    533,282,237
    
    
    
    574,408,313
    
    
    
    547,751,543Partners Capital, end of period
    
    $
    760,545,510
    
    
    $
    496,811,774
    
    
    $
    760,545,510
    
    
    $
    496,811,774Net asset
value per unit 
(366,031.5997 and 264,034.0929 units outstanding
at June 30, 2010 and 2009, respectively)
    
    $
    2,077.81
    
    
    $
    1,881.62
    
    
    $
    2,077.81
    
    
    $
    1,881.62Net income
(loss) per unit
    
    $
    62.00
    
    
    $
    (120.99
    )
    
    $
    154.61
    
    
    $
    (138.71
    )Weighted average units outstanding
    
    
    364,258.5134
    
    
    
    276,008.4187
    
    
    
    349,452.6984
    
    
    
    279,209.0504
 10




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##### Table of Contents



Abingdon Futures Fund L.P.
Notes to Financial Statements
June 30, 2010
(Unaudited)
 2.
    
    Financial Highlights:
  Three Months Ended
    
    
    Six Months EndedJune 30,
    
    
    June 30,2010
    
    
    2009
    
    
    2010
    
    
    2009Net realized and unrealized gains (losses) allocated from Master *
    
    $
    20.73
    
    
    $
    (83.15
    )
    
    $
    59.10
    
    
    $
    (107.21
    )Interest income allocated from Master
    
    
    0.27
    
    
    
    0.23
    
    
    
    0.39
    
    
    
    0.49Expenses **
    
    
    (7.64
    )
    
    
    (7.72
    )
    
    
    (15.00
    )
    
    
    (16.61
    )Increase (decrease) for the period
    
    
    13.36
    
    
    
    (90.64
    )
    
    
    44.49
    
    
    
    (123.33
    )Net asset value per Redeemable Unit, beginning of period
    
    
    1,097.67
    
    
    
    1,171.51
    
    
    
    1,066.54
    
    
    
    1,204.20Net asset value per Redeemable Unit, end of period
    
    $
    1,111.03
    
    
    $
    1,080.87
    
    
    $
    1,111.03
    
    
    $
    1,080.87
 
 *
    
    Includes Partnership brokerage fees and clearing fees allocated from
 Master.**
    
    Excludes Partnership brokerage fees and clearing fees allocated from
 Master. Three Months Ended
    
    
    Six Months EndedJune 30,
    
    
    June 30,2010
    
    
    2009
    
    
    2010
    
    
    2009Ratio to
average net assets:***Net
investment income (loss) before incentive fees****
    
    
    (7.5
    )%
    
    
    (7.5
    )%
    
    
    (7.5
    )%
    
    
    (7.7
    )%Operating
expenses
    
    
    7.6
    %
    
    
    7.6
    %
    
    
    7.6
    %
    
    
    7.8
    %Incentive fees
    
    
    
    %
    
    
    
    %
    
    
    
    %
    
    
    
    %Total expenses
    
    
    7.6
    %
    
    
    7.6
    %
    
    
    7.6
    %
    
    
    7.8
    %Total return :Total return before incentive fees
    
    
    1.2
    %
    
    
    (7.7
    )%
    
    
    4.2
    %
    
    
    (10.2
    )%Incentive
fees
    
    
    
    %
    
    
    
    %
    
    
    
    %
    
    
    
    %Total return after incentive fees
    
    
    1.2
    %
    
    
    (7.7
    )%
    
    
    4.2
    %
    
    
    (10.2
    )%
 
 ***
    
    Annualized (other than incentive fees).****
    
    Interest income allocated from Master less total expenses.  11




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##### Table of Contents



Abingdon Futures Fund L.P.
Notes to Financial Statements
June 30, 2010
(Unaudited)
  Three Months Ended
    
    
    Six Months EndedJune 30,
    
    
    June 30,2010
    
    
    2009
    
    
    2010
    
    
    2009Net realized and unrealized gains (losses) *
    
    $
    61.52
    
    
    $
    (121.40
    )
    
    $
    153.91
    
    
    $
    (139.58
    )Interest income
    
    
    0.59
    
    
    
    0.44
    
    
    
    0.86
    
    
    
    0.93Expenses **
    
    
    (0.11
    )
    
    
    (0.03
    )
    
    
    (0.16
    )
    
    
    (0.06
    )Increase
(decrease) for the period
    
    
    62.00
    
    
    
    (120.99
    )
    
    
    154.61
    
    
    
    (138.71
    )Distribution
of interest income to feeder funds
    
    
    (0.59
    )
    
    
    (0.44
    )
    
    
    (0.86
    )
    
    
    (0.93
    )Net asset
value per unit, beginning of period
    
    
    2,016.40
    
    
    
    2,003.05
    
    
    
    1,924.06
    
    
    
    2,021.26Net asset
value per unit, end of period
    
    $
    2,077.81
    
    
    $
    1,881.62
    
    
    $
    2,077.81
    
    
    $
    1,881.62
 
 *
    
    Includes clearing fees.**
    
    Excludes clearing fees. Three Months Ended
    
    
    Six Months EndedJune 30,
    
    
    June 30,2010
    
    
    2009
    
    
    2010
    
    
    2009Ratios to
average net assets:***Net
investment income (loss)****
    
    
    (0.0
    )%*****
    
    
    0.0
    %*****
    
    
    (0.0
    )%*****
    
    
    0.0
    %*****Operating
expenses
    
    
    0.1
    %
    
    
    0.1
    %
    
    
    0.1
    %
    
    
    0.1
    %Total return
    
    
    3.1
    %
    
    
    (6.0
    )%
    
    
    8.0
    %
    
    
    (6.9
    )%
 
 ***
    
    Annualized.****
    
    Interest income less total expenses.*****
    
    Due to rounding  3.
    
    Trading Activities:
     12




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##### Table of Contents



Abingdon Futures Fund L.P.
Notes to Financial Statements
June 30, 2010
(Unaudited)
  June 30, 2010AssetsFutures ContractsCurrencies
    
    $
    2,584,860Energy
    
    
    522,390Grains
    
    
    927,581Indices
    
    
    1,512,849Interest Rates U.S.
    
    
    10,908,716Interest Rates Non-U.S.
    
    
    8,498,275Livestock
    
    
    17,890Metals
    
    
    2,722,845Softs
    
    
    319,599Total unrealized appreciation on open futures contracts
    
    $
    28,015,005LiabilitiesFutures ContractsCurrencies
    
    $
    (7,721,143
    )Energy
    
    
    (720,863
    )Grains
    
    
    (383,169
    )Indices
    
    
    (1,465,295
    )Interest Rates U.S.
    
    
    (5,407
    )Interest Rates Non-U.S.
    
    
    (222,918
    )Livestock
    
    
    (120,430
    )Metals
    
    
    (71,398
    )Softs
    
    
    (733,923
    )Total unrealized depreciation on open futures contracts
    
    $
    (11,444,546
    )Net unrealized appreciation on open futures contracts
    
    $
    16,570,459
    * June 30, 2010AssetsForward ContractsCurrencies
    
    $
    77,465Metals
    
    
    4,387,553Total unrealized appreciation on open forward contracts
    
    $
    4,465,018LiabilitiesForward ContractsCurrencies
    
    $
    (137,224
    )Metals
    
    
    (11,728,639
    )Total unrealized depreciation on open forward contracts
    
    $
    (11,865,863
    )Net unrealized depreciation on open forward contracts$
    (7,400,845
    )**AssetsOptions
PurchasedIndices
    
    $
    141,225Total
options purchased
    
    $
    141,225
    ***LiabilitiesOptions
Premium ReceivedIndices
    
    $
    (276,235
    )Total
options premium received
    
    $
    (276,235
    )****
 
 *
    
    This amount is in Net unrealized appreciation on open futures contracts on the  Masters Statements of Financial Condition.**
    
    This amount is in Net unrealized depreciation on open forward contracts on the Masters Statements of Financial Condition.***
    
    This amount is in Options purchased, at fair value on the Masters Statements of Financial Condition.****
    
    This amount is in Options premium received, at fair value on the Masters  Statements of Financial Condition. 13




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##### Table of Contents



Abingdon Futures Fund L.P.
Notes to Financial Statements
June 30, 2010
(Unaudited)
 December 31, 2009AssetsFutures ContractsCurrencies

$
410,679Energy


128,203Grains


629,534Indices


3,222,389Interest Rates U.S.


639,524Interest Rates
    Non-U.S.


1,473,596Livestock


53,810Metals


771,738Softs


598,000Total unrealized appreciation on open futures contracts

$
7,927,473LiabilitiesFutures ContractsCurrencies

$
(2,470,714
)Energy


(516,987
)Grains


(361,398
)Indices


(349,439
)Interest Rates U.S.


(969,559
)Interest Rates
    Non-U.S.


(1,620,668
)Livestock


(71,810
)Metals


(1,188,985
)Softs


(233,630
)Total unrealized depreciation on open futures contracts

$
(7,783,190
)Net unrealized appreciation on open futures contracts

$
144,283
* December 31, 2009AssetsForward ContractsMetals

$
2,433,189Total unrealized appreciation on open forward contracts

$
2,433,189LiabilitiesForward ContractsMetals

$
(734,789
)Total unrealized depreciation on open forward contracts

$
(734,789
)Net unrealized appreciation on open forward contracts

$
1,698,400
**AssetsOptions PurchasedIndices

$
17,723Total options purchased

$
17,723
***LiabilitiesOptions Premium ReceivedIndices

$
(40,733
)Total options premium received

$
(40,733
)****  
  *
    
    This amount is in Net unrealized appreciation on open
    futures contracts on the Masters Statements of
    Financial Condition.**
    
    This amount is in Net unrealized appreciation on open
    forward contracts on the Masters Statements of
    Financial Condition.***
    
    This amount is in Options purchased, at fair value on
    the Masters Statements of Financial Condition.****
    
    This amount is in Options premium received, at fair value on
    the Masters Statements of Financial Condition. 14




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##### Table of Contents



Abingdon Futures Fund L.P.
Notes to Financial Statements
June 30, 2010
(Unaudited)
  Three  Months Ended
    

    Three  Months Ended
    
    
    Six  Months Ended
    
    
    Six  Months EndedJune 30, 2010
    

    June 30, 2009
    
    
    June 30, 2010
    
    
    June 30, 2009Sector
    
    Gain (loss) from trading
    

    Gain (loss) from trading
    
    
    Gain (loss) from trading
    
    
    Gain (loss) from tradingCurrencies
    
    $
    16,370,846
    

    $
    (655,705
    )
    
    $
    26,350,142
    
    
    $
    (8,014,334
    )Energy
    
    
    (9,087,845
    )

    
    (4,333,919
    )
    
    
    (8,300,359
    )
    
    
    (2,824,515
    )Grains
    
    
    (184,415
    )

    
    1,434,481
    
    
    
    1,067,277
    
    
    
    3,579,325Indices
    
    
    (21,394,464
    )

    
    (12,313,686
    )
    
    
    (15,668,590
    )
    
    
    (9,665,675
    )Interest Rates U.S.
    
    
    16,576,262
    

    
    (4,680,915
    )
    
    
    17,014,103
    
    
    
    (6,890,087
    )Interest Rates Non-U.S.
    
    
    21,723,556
    

    
    (6,805,754
    )
    
    
    30,280,568
    
    
    
    (6,800,685
    )Livestock
    
    
    (594,073
    )

    
    443,190
    
    
    
    (508,063
    )
    
    
    667,613Lumber
    
    
    
    

    
    (5,280
    )
    
    
    
    
    
    
    (4,378
    )Metals
    
    
    90,808
    

    
    (4,726,873
    )
    
    
    3,253,637
    
    
    
    (6,224,685
    )Softs
    
    
    (1,334,216
    )

    
    (192,145
    )
    
    
    981,366
    
    
    
    (455,093
    )Total
    
    $
    22,166,459
    *****

    $
    (31,836,606
    )*****
    
    $
    54,470,081
    *****
    
    $
    (36,632,514
    )*****
 
 *****
    
    This amount is in Gain(loss) from trading,
net on the Masters Statements of Income and Expenses and Changes in
Partners Capital. 15




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##### Table of Contents



Abingdon Futures Fund L.P.
Notes to Financial Statements
June 30, 2010
(Unaudited)
 4.   Fair Value Measurements :
 Partnerships Investments.
 Partnerships Fair Value Measurements.
   Quoted Pricesin Active Markets
    
    
    Significant Other
    
    
    Significantfor Identical
    
    
    Observable Inputs
    
    
    Unobservable6/30/2010
    
    
    Assets (Level 1)
    
    
    (Level 2)
    
    
    Inputs (Level 3)AssetsInvestment in Master
    
    $
    139,281,938
    
    
    $
    
    
    
    $
    139,281,938
    
    
    $
    Total fair value
    
    $
    139,281,938
    
    
    $
    
    
    
    $
    139,281,938
    
    
    $
    
 Quoted Pricesin Active Markets
    
    
    Significant Other
    
    
    Significantfor Identical
    
    
    Observable Inputs
    
    
    Unobservable12/31/2009
    
    
    Assets (Level 1)
    
    
    (Level 2)
    
    
    Inputs (Level 3)AssetsInvestment in Master
    
    $
    123,045,654
    
    
    $
    
    
    
    $
    123,045,654
    
    
    $
    Total fair value
    
    $
    123,045,654
    
    
    $
    
    
    
    $
    123,045,654
    
    
    $
    
 Masters Investments.
 16




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##### Table of Contents



Abingdon Futures Fund L.P.
Notes to Financial Statements
June 30, 2010
(Unaudited)
 Masters Fair Value Measurements.
  Quoted Prices in
    
    
    
    
    
    
    SignificantActive Markets for
    
    
    Significant Other
    
    
    UnobservableIdentical sets
    
    
    Observable Inputs
    
    
    Inputs6/30/2010
    
    
    (Level 1)
    
    
    (Level 2)
    
    
    (Level 3)AssetsFutures
    
    $
    16,570,459
    
    
    $
    16,570,459
    
    
    $
    
    
    
    $
    Options purchased
    
    
    141,225
    
    
    
    141,225Total assets
    
    
    16,711,684
    
    
    
    16,711,684
    
    
    
    
    
    
    
    LiabilitiesForwards
    
    
    7,400,845
    
    
    
    7,341,086
    
    
    
    59,759Options premium
received
    
    
    276,235
    
    
    
    276,235
    
    
    
    
    
    
    
    Total liabilities
    
    
    7,677,080
    
    
    
    7,617,321
    
    
    
    59,759
    
    
    
    Total fair value
    
    $
    9,034,604
    
    
    $
    9,094,363
    
    
    $
    (59,759
    )
    
    $
    
 Quoted Prices in
    
    
    
    
    
    
    SignificantActive Markets for
    
    
    Significant Other
    
    
    UnobservableIdentical Assets
    
    
    Observable Inputs
    
    
    Inputs12/31/2009
    
    
    (Level 1)
    
    
    (Level 2)
    
    
    (Level 3)AssetsFutures
      
       $
144,283
       
      
       $
144,283
       
      
       $

       
      
       $
Forwards
      
       
         1,698,400
       
      
       
         1,698,400
       
      
       
         
       
      
       
         Options
purchased
      
       
         17,723
       
      
       
         17,723
       
      
       
         
       
      
       
         Total assets
      
       
         1,860,406
       
      
       
         1,860,406
       
      
       
         
       
      
       
         LiabilitiesOptions premium
received
      
       
         40,733
       
      
       
         40,733
       
      
       
         
       
      
       
         Total liabilities
      
       
         40,733
       
      
       
         40,733
       
      
       
         
       
      
       
         Total fair value
      
       $
1,819,673
       
      
       $
1,819,673
       
      
       $

       
      
       $
 5.   Financial Instrument Risks:
   17




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##### Table of Contents



Abingdon Futures Fund L.P.
Notes to Financial Statements
June 30, 2010
(Unaudited)
     6. Critical
Accounting Policies:
 Use of Estimates.
 Statement of Cash Flows.
 Partnerships Investments.
 Partnerships and the Masters Fair Value Measurements.
   Futures
Contracts.
 18




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##### Table of Contents



Abingdon Futures Fund L.P.
Notes to Financial Statements
June 30, 2010
(Unaudited)
 Forward Foreign Currency Contracts
  London Metals Exchange Forward Contracts.
 Options.
 Income Taxes.
   Subsequent Events.
 Recent Accounting Pronouncements.
  Net Income (Loss) per Redeemable Unit
 19




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##### Table of Contents



Item 2. Managements Discussion and Analysis of Financial Condition and Results of
Operations.
 Liquidity
and Capital Resources
      Critical
Accounting Policies
 Partnerships Investments.
 Partnerships and the Masters Fair Value Measurements.
   Futures Contracts.
 20




---



##### Table of Contents



Forward Foreign Currency Contracts
  London Metals Exchange Forward Contracts.
 Options.
 Results of Operations
       21




---



##### Table of Contents



22




---



##### Table of Contents



Item 3. Quantitative and Qualitative Disclosures about Market Risk
         June 30, 2010
(Unaudited)
 Three Months ended June 30, 2010% of Total
    
    
    High
    
    
    Low
    
    
    AverageMarket Sector
    
    Value at Risk
    
    
    Capitalization
    
    
    Value at Risk
    
    
    Value at Risk
    
    
    Value at Risk*Currencies
    
    $
    11,606,499
    
    
    
    1.53
    %
    
    $
    13,595,019
    
    
    $
    7,870,170
    
    
    $
    12,385,655Energy
    
    
    1,728,733
    
    
    
    0.23
    %
    
    
    4,944,082
    
    
    
    1,138,249
    
    
    
    3,373,459Grains
    
    
    2,015,412
    
    
    
    0.26
    %
    
    
    2,377,300
    
    
    
    1,218,656
    
    
    
    1,793,890Interest Rates U.S.
    
    
    7,749,400
    
    
    
    1.02
    %
    
    
    8,348,750
    
    
    
    766,861
    
    
    
    6,493,933Interest Rates Non-U.S.
    
    
    9,117,905
    
    
    
    1.20
    %
    
    
    9,760,386
    
    
    
    5,764,470
    
    
    
    8,980,713Livestock
    
    
    231,150
    
    
    
    0.03
    %
    
    
    354,850
    
    
    
    204,300
    
    
    
    293,817Metals
    
    
    4,920,790
    
    
    
    0.65
    %
    
    
    8,963,451
    
    
    
    4,612,794
    
    
    
    6,778,301Softs
    
    
    1,030,897
    
    
    
    0.13
    %
    
    
    1,577,469
    
    
    
    647,356
    
    
    
    935,643Indices
    
    
    2,395,779
    
    
    
    0.31
    %
    
    
    21,927,977
    
    
    
    2,395,779
    
    
    
    8,835,502Total
    
    $
    40,796,565
    
    
    
    5.36
    %
  23




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##### Table of Contents



Item 4. Controls and Procedures
    internal control over financial reporting
 
    
    pertain to the maintenance of records that in reasonable detail accurately and fairly
reflect the transactions and dispositions of the assets of the Partnership;
    
    provide reasonable assurance that (i) transactions are recorded as necessary to permit
preparation of financial statements in accordance with GAAP, and (ii) the Partnerships
receipts are handled and expenditures are made only pursuant to authorizations of the
General Partner; and
    
    provide reasonable assurance regarding prevention or timely detection of unauthorized
acquisition, use or disposition of the Partnerships assets that could have a material
effect on the financial statements.
  24




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##### Table of Contents



PART II. OTHER INFORMATION
 Item 1. Legal Proceedings
  Item 1A. Risk Factors
 Regulatory changes could restrict the Partnerships operations
 Regulatory changes could restrict
 the Partnerships operations.
  Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
    (d) Maximum Number(or Approximate(c) Total Number
    
    
    Dollar Value) of(a) Total
    
    
    
    
    
    
    
    of Redeemable Units
    
    
    Redeemable Units thatNumber of
    
    
    (b) Average
    
    
    Purchased as Part
    
    
    May Yet BeRedeemable
    
    
    Price Paid per
    
    
    of Publicly Announced
    
    
    Purchased Under thePeriod
    
    
    Units Purchased*
    
    
    Redeemable Unit**
    
    
    Plans or Programs
    
    
    Plans or ProgramsApril 1, 2010 -
April 30, 2010
    
    
    
    1,452.0863
    
    
    
    $
    1,109.20
    
    
    
    
    N/A
    
    
    
    
    N/AMay 1, 2010 -
May 31, 2010
    
    
    
    1,596.6053
    
    
    
    $
    1,099.11
    
    
    
    
    N/A
    
    
    
    
    N/AJune 1, 2010 -
June 30, 2010
    
    
    
    492.1280
    
    
    
    $
    1,111.03
    
    
    
    
    N/A
    
    
    
    
    N/A3,540.8196
    
    
    
    $
    1,104.90
   Item 3. Defaults Upon Senior Securities  None
 Item 4. [Removed and Reserved]
 Item 5. Other Information  None
 25




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##### Table of Contents



Item 6. Exhibits
 3.1
    
    (a)
    
    Certificate of Limited Partnership of the Partnership as filed in the office of the Secretary of State
of the State of New York, dated November 1, 2005 (filed as Exhibit 3.1 to the Registration on Form 10-12G filed on April 30, 2008 and
incorporated herein by reference).(b)
    
    Certificate of Amendment to the Certificate of Limited Partnership as filed in the office of the
Secretary of State of the State of New York, dated September 19, 2008 (filed as Exhibit 3.1(b) to the Form 10-Q filed on November 16,
2009 and incorporated herein by reference).(c)
    
    Certificate of Amendment to the Certificate of Limited Partnership as filed in the office of the
Secretary of State of the State of New York, dated September 28, 2009 (filed as Exhibit 99.1 to the Form 8-K filed on September 29,
2009 and incorporated herein by reference).(d)
    
    Certificate of Amendment to the Certificate of Limited Partnership
 as filed in the office of the Secretary of state of the State of New York,
 dated June 29, 2010 (filed as Exhibit 3.1(d) to the Form 8-K filed on June 30, 2010 and
 incorporated herein by reference).3.2
    
    (a)
    
    Second Amended and Restated Agreement of Limited Partnership, dated December 21, 2009 (filed as
Exhibit 3.1 to the Form 8-K filed on December 23, 2009 and incorporated herein by reference).10.1
    
    
    
    Customer Agreement between the
Partnership, the General Partner and CGM, dated April 29, 2008 (filed as Exhibit 10.2 to the Registration on Form 10-12G filed on April 30, 2008 and incorporated
herein by reference).10.2
    
    (a)
    
    Management Agreement among the
Partnership, the General Partner and the Adviser, dated November 21, 2006 (filed as Exhibit 10.1 to the Registration on Form 10-12G filed on April 30, 2008 and
incorporated herein by reference).(b)
    
    Letter from the General Partner
extending Management Agreement with the Adviser for 2009, dated June 9, 2009 (filed as Exhibit 10.2(c) to the Form 10-K filed on March 31, 2010 and incorporated herein by reference).10.3
    
    
    
    Agency Agreement between the
Partnership, the General Partner and CGM, dated May 27, 2007 (filed as Exhibit 10.3 to the Registration on Form 10-12G filed on April 30, 2008 and incorporated herein by
reference).10.4
    
    
    
    Form of Third Party Subscription Agreement (filed as Exhibit 10.4 to the Form 10-Q
filed on November 16, 2009 and incorporated herein by reference).10.5
    
    
    
    Form of Subscription Agreement (filed as Exhibit 10.5 to the Form 10-Q
filed on November 16, 2009 and incorporated herein by reference).10.6
    
    
    
    Joinder Agreement among the General
Partner, CMF, and Morgan Stanley Smith
Barney LLC dated as of June 1, 2009 (filed as Exhibit 10 to the Form 10-Q filed on August 14, 2009 and incorporated herein by reference).The exhibits required to be filed by Item 601 of regulation S-K are incorporated herein by reference31.1
    
    
    
    Rule 13a-14(a)/15d-14(a) Certification (Certification of President and Director)31.2
    
    
    
    Rule 13a-14(a)/15d-14(a)
Certification (Certification of Chief Financial Officer, Secretary and Director)32.1
    
    
    
    Section 1350 Certification (Certification of President and Director)32.2
    
    
    
    Section 1350 Certification
(Certification of Chief Financial Officer, Secretary and Director)
 26




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##### Table of Contents



SIGNATURES
  ABINGDON FUTURES FUND L.P.By:
    Ceres Managed Futures LLC(General Partner)By:

/s/
Walter DavisWalter DavisPresident and DirectorDate: August 16, 2010By:
    /s/ Jennifer MagroJennifer MagroChief Financial Officer, Secretary and Director
(Principal Accounting Officer)Date: August 16, 2010   27