##### 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 March 31, 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
 55 East
59th
Street -
    10th
    Floor
 New York, New York 10022
    (212) 559-2011
      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 March 31, 2010 and December 31, 2009 (unaudited)

3Statements of Income and Expenses and Changes in Partners Capital for the three months ended March 31, 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

25Exhibits 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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PART I
 
 Item 1. Financial Statements
 
 Abingdon Futures Fund L.P.
Statements of Financial Condition
(Unaudited)
 March 31,
    
    
    December 31,2010
    
    
    2009Assets:Investment in Master, at fair value
    
    $
    130,134,468
    
    
    $
    123,045,654Cash
    
    
    217,647
    
    
    
    250,959Total assets
    
    
    130,352,115
    
    
    $
    123,296,613Liabilities and Partners CapitalLiabilities:Accrued expenses:Brokerage fees
    
    $
    488,820
    
    
    $
    462,362Management fees
    
    
    216,213
    
    
    
    204,490Administrative fees
    
    
    54,053
    
    
    
    51,123Other
    
    
    135,231
    
    
    
    139,960Redemptions payable
    
    
    1,020,906
    
    
    
    1,652,699Total liabilities
    
    
    1,915,223
    
    
    
    2,510,634Partners Capital:General Partner, 1,878.6760 and 1,689.1726 Unit equivalents
outstanding at March 31, 2010
and December 31, 2009, respectively
    
    
    2,062,166
    
    
    
    1,801,570Limited Partners, 115,130.4803 and 111,560.6462 Redeemable Units of
Limited Partnership Interest outstanding at March 31, 2010
and December 31, 2009, respectively
    
    
    126,374,726
    
    
    
    118,984,409Total partners capital
    
    
    128,436,892
    
    
    
    120,785,979Total liabilities and partners capital
    
    $
    130,352,115
    
    
    $
    123,296,613Net Asset Value per Unit
    
    $
    1,097.67
    
    
    $
    1,066.54
  3




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Abingdon Futures Fund L.P.
Statements of Income and Expenses and Changes in Partners Capital
(Unaudited)
 Three MonthsEnded March 31,2010
    
    
    2009Income:Net realized gains (losses) on closed contracts allocated from Master
    
    $
    1,362,478
    
    
    $
    1,202,507Change in net unrealized gains (losses) on open contracts allocated from Master
    
    
    4,647,148
    
    
    
    (2,287,671
    )Interest income allocated from Master
    
    
    15,263
    
    
    
    27,323Expenses allocated from Master
    
    
    (36,331
    )
    
    
    (17,347
    )Total income (loss)
    
    
    5,988,558
    
    
    
    (1,075,188
    )Expenses:Brokerage fees
    
    
    1,415,782
    
    
    
    1,394,144Management fees
    
    
    626,201
    
    
    
    616,561Administrative fees
    
    
    156,550
    
    
    
    154,140Other
    
    
    82,070
    
    
    
    138,595Total expenses
    
    
    2,280,603
    
    
    
    2,303,440Net income (loss)
    
    
    3,707,955
    
    
    
    (3,378,628
    )Additions  Limited Partners
    
    
    9,293,000
    
    
    
    20,550,000Additions  General Partner
    
    
    200,000
    
    
    
    Redemptions  Limited Partners
    
    
    (5,550,042
    )
    
    
    (14,599,532
    )Net increase (decrease) in Partners Capital
    
    
    7,650,913
    
    
    
    2,571,840Partners Capital, beginning of period
    
    
    120,785,979
    
    
    
    114,745,000Partners Capital, end of period
    
    $
    128,436,892
    
    
    $
    117,316,840Net Asset Value per Unit

(117,009.1563 and 100,141.8604 Units
outstanding at March 31, 2010 and 2009, respectively)
    
    $
    1,097.67
    
    
    $
    1,171.51Net income per Redeemable Unit of Limited Partnership Interest and
General Partner Unit equivalent
    
    $
    31.13
    
    
    $
    (32.69
    )Weighted average units outstanding
    
    
    117,545.6149
    
    
    
    103,126.7014
  4




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Abingdon Futures Fund L.P.
Notes to Financial Statements
March 31, 2010
(Unaudited)
 1. General:
         5




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##### Table of Contents



Abingdon Futures Fund L.P.
Notes to Financial Statements
March 31, 2010
(Unaudited)
     6




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Abingdon Futures Fund L.P.
Notes to Financial Statements
March 31, 2010
(Unaudited)
  CMF Winton Master L.P.
Statements of Financial Condition
(Unaudited)
 March 31,
    
    
    December 31,2010
    
    
    2009Assets:Equity in trading account:Cash
    
    $
    602,888,636
    
    
    $
    533,704,028Cash margin
    
    
    60,509,969
    
    
    
    38,915,256Net unrealized appreciation on open futures contracts
    
    
    22,153,133
    
    
    
    144,283Net unrealized appreciation on open forward contracts
    
    
    4,389,054
    
    
    
    1,698,400Options owned, at fair value (cost $39,400 and $34,613
at March 31, 2010 and December 31, 2009, respectively)
    
    
    28,185
    
    
    
    17,723Total assets
    
    $
    689,968,977
    
    
    $
    574,479,690Liabilities and Partners Capital:Liabilities:Options written, at fair value (premium $77,555 and $77,101 at
March 31, 2010 and December 31, 2009, respectively)
    
    $
    53,690
    
    
    $
    40,733Accrued expenses:Professional fees
    
    
    11,234
    
    
    
    30,644Total liabilities
    
    
    64,924
    
    
    
    71,377Partners Capital:General Partner, 0.0000 Unit equivalents at March 31, 2010
and December 31, 2009, respectively
    
    
    
    
    
    
    Limited Partners Capital, 342,147.2055 and 298,540.2381
Redeemable Units of Limited Partnership Interest outstanding at
March 31, 2010 and December 31, 2009, respectively
    
    
    689,904,053
    
    
    
    574,408,313Total liabilities and partners capital
    
    $
    689,968,977
    
    
    $
    574,479,690Net Asset Value per Redeemable Unit
    
    $
    2,016.40
    
    
    $
    1,924.06
 7




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Abingdon Futures Fund L.P.
Notes to Financial Statements
March 31, 2010
(Unaudited)
 CMF Winton Master L.P.
Condensed Schedule of Investments
March 31, 2010
(Unaudited)
 Notional ($)/
Number of
    
    
    
    
    
    
    % of PartnersContracts
    
    
    Fair Value
    
    
    CapitalFutures
Contracts PurchasedCurrencies
    
    
    3,464
    
    
    $
    2,373,340
    
    
    
    0.35
    %Energy
    
    
    939
    
    
    
    1,195,122
    
    
    
    0.17Grains
    
    
    65
    
    
    
    (49,686
    )
    
    
    (0.01
    )Indices
    
    
    5,666
    
    
    
    5,821,567
    
    
    
    0.84Interest Rates U.S.
    
    
    3,312
    
    
    
    962,471
    
    
    
    0.14Interest Rates Non-U.S.
    
    
    6,607
    
    
    
    4,547,426
    
    
    
    0.66Livestock
    
    
    195
    
    
    
    173,328
    
    
    
    0.03Metals
    
    
    829
    
    
    
    1,511,327
    
    
    
    0.22Softs
    
    
    94
    
    
    
    73,113
    
    
    
    0.01Total futures contracts purchased
    
    
    
    
    
    
    16,608,008
    
    
    
    2.41Futures
Contracts SoldCurrencies
    
    
    3,225
    
    
    
    1,479,487
    
    
    
    0.21Energy
    
    
    210
    
    
    
    1,036,455
    
    
    
    0.15Grains
    
    
    1,411
    
    
    
    2,123,207
    
    
    
    0.31Indices
    
    
    3
    
    
    
    (81
    )
    
    
    (0.00
    )*Interest Rates U.S.
    
    
    609
    
    
    
    (207,694
    )
    
    
    (0.03
    )Interest Rates Non-U.S.
    
    
    646
    
    
    
    103,341
    
    
    
    0.01Livestock
    
    
    8
    
    
    
    (3,710
    )
    
    
    (0.00
    )*Softs
    
    
    736
    
    
    
    1,014,120
    
    
    
    0.15Total futures contracts sold
    
    
    
    
    
    
    5,545,125
    
    
    
    0.80Unrealized
Appreciation on Open Forward ContractsCurrencies
    
    $
    10,628,258
    
    
    
    128,246
    
    
    
    0.02Metals
    
    
    704
    
    
    
    6,118,848
    
    
    
    0.89Total unrealized appreciation on open forward contracts
    
    
    
    
    
    
    6,247,094
    
    
    
    0.91Unrealized
Depreciation on Open Forward ContractsCurrencies
    
    $
    5,434,842
    
    
    
    (39,900
    )
    
    
    (0.00
    )*Metals
    
    
    275
    
    
    
    (1,818,140
    )
    
    
    (0.26
    )Total unrealized depreciation on open forward contracts
    
    
    
    
    
    
    (1,858,040
    )
    
    
    (0.26
    )Options
OwnedPutsIndices
    
    
    94
    
    
    
    28,185
    
    
    
    0.00
    *Total options owned
    
    
    
    
    
    
    28,185
    
    
    
    0.00Options
WrittenPutsIndices
    
    
    94
    
    
    
    (53,690
    )
    
    
    (0.01
    )Total options written
    
    
    
    
    
    
    (53,690
    )
    
    
    (0.01
    )Total fair value
    
    
    
    
    
    $
    26,516,682
    
    
    
    3.85
    %
 
 *
    
    Due to rounding. 8




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Abingdon Futures Fund L.P.
Notes to Financial Statements
March 31, 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 OwnedPutsIndices


65



17,723



0.00
*Total options owned






17,723



0.00Options WrittenPutsIndices


65



(40,733
)


(0.01
)Total options written






(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
March 31, 2010
(Unaudited)
 CMF Winton Master L.P.
Statements of Income and Expenses and Changes in Partners Capital

(Unaudited)
 Three Months EndedMarch 31,2010
    
    
    2009Income:Net gains (losses) on trading of commodity interests:Net realized gains (losses) on closed contracts
    
    $
    7,610,946
    
    
    $
    5,353,638Change in net unrealized gains (losses) on open contracts
    
    
    24,692,676
    
    
    
    (10,149,546
    )Gain (loss) from trading, net
    
    
    32,303,622
    
    
    
    (4,795,908
    )Interest income
    
    
    90,775
    
    
    
    134,962Total income (loss)
    
    
    32,394,397
    
    
    
    (4,660,946
    )Expenses:Clearing fees
    
    
    169,844
    
    
    
    67,867Professional fees
    
    
    17,365
    
    
    
    9,230Total expenses
    
    
    187,209
    
    
    
    77,097Net income (loss)
    
    
    32,207,188
    
    
    
    (4,738,043
    )Additions  Limited Partners
    
    
    118,054,225
    
    
    
    59,927,302Redemptions  Limited Partners
    
    
    (34,674,898
    )
    
    
    (69,523,603
    )Distribution of interest income to feeder funds
    
    
    (90,775
    )
    
    
    (134,962
    )Net increase (decrease) in Partners capital
    
    
    115,495,740
    
    
    
    (14,469,306
    )Partners Capital, beginning of period
    
    
    574,408,313
    
    
    
    547,751,543Partners Capital, end of period
    
    $
    689,904,053
    
    
    $
    533,282,237Net Asset Value per Redeemable Unit

(342,147.2055 and 266,234.9916 Redeemable Units outstanding
at March 31, 2010 and 2009, respectively)
    
    $
    2,016.40
    
    
    $
    2,003.05Net income (loss) per Redeemable Unit of Limited Partnership
Interest
    
    $
    92.61
    
    
    $
    (17.72
    )Weighted average units outstanding
    
    
    334,646.8834
    
    
    
    282,409.6821
 10




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Abingdon Futures Fund L.P.
Notes to Financial Statements
March 31, 2010
(Unaudited)
 2.
    
    Financial Highlights:
  Three Months EndedMarch 31,2010
    
    
    2009Net realized and unrealized gains (losses) allocated from Master *
    
    $
    38.37
    
    
    $
    (24.06
    )Interest income allocated from Master
    
    
    0.12
    
    
    
    0.26Expenses **
    
    
    (7.36
    )
    
    
    (8.89
    )Increase (decrease) for the period
    
    
    31.13
    
    
    
    (32.69
    )Net Asset Value per Redeemable Unit, beginning of period
    
    
    1,066.54
    
    
    
    1,204.20Net Asset Value per Redeemable Unit, end of period
    
    $
    1,097.67
    
    
    $
    1,171.51
 
 *
    
    Includes Partnership brokerage fees and clearing fees allocated from
 Master.**
    
    Excludes Partnership brokerage fees and clearing fees allocated from
 Master. Three Months EndedMarch 31,2010
    
    
    2009Ratio to average net assets:***Net
investment income (loss) before incentive fees****
    
    
    (7.6
    )%
    
    
    (7.9
    )%Operating
expenses
    
    
    7.7
    %
    
    
    8.0
    %Incentive fees
    
    
    
    %
    
    
    
    %Total expenses
    
    
    7.7
    %
    
    
    8.0
    %Total return :Total return before incentive fees
    
    
    2.9
    %
    
    
    (2.7
    )%Incentive
fees
    
    
    
    %
    
    
    
    %Total return after incentive fees
    
    
    2.9
    %
    
    
    (2.7
    )%
 
 ***
    
    Annualized (other than incentive fees).****
    
    Interest income allocated from Master less total expenses.  11




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Abingdon Futures Fund L.P.
Notes to Financial Statements
March 31, 2010
(Unaudited)
  Three Months EndedMarch 31,2010
    
    
    2009Net realized and unrealized gains (losses) *
    
    $
    92.39
    
    
    $
    (18.18
    )Interest income
    
    
    0.27
    
    
    
    0.49Expenses **
    
    
    (0.05
    )
    
    
    (0.03
    )Increase
(decrease) for  the period
    
    
    92.61
    
    
    
    (17.72
    )Distribution of interest income to feeder funds
    
    
    (0.27
    )
    
    
    (0.49
    )Net Asset
Value per Redeemable Unit, beginning of period
    
    
    1,924.06
    
    
    
    2,021.26Net Asset
Value per Redeemable Unit, end of period
    
    $
    2,016.40
    
    
    $
    2,003.05
 
 *
    
    Includes clearing fees.**
    
    Excludes clearing fees. Three Months EndedMarch 31,2010
    
    
    2009Ratios to average net assets:***Net
investment income (loss)****
    
    
    (0.1
    )%
    
    
    0.0
    %*****Operating
expenses
    
    
    0.1
    %
    
    
    0.1
    %Total return
    
    
    4.8
    %
    
    
    (0.9
    )%
 
 ***
    
    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
March 31, 2010
(Unaudited)
  March 31, 2010AssetsFutures
ContractsCurrencies
    
    $
    6,583,348Energy
    
    
    2,698,412Grains
    
    
    2,144,793Indices
    
    
    5,900,057Interest Rates U.S.
    
    
    1,132,525Interest Rates Non-U.S.
    
    
    4,888,461Livestock
    
    
    176,268Metals
    
    
    1,646,313Softs
    
    
    1,381,647Total unrealized appreciation on open futures contracts
    
    $
    26,551,824LiabilitiesFutures
ContractsCurrencies
    
    $
    (2,730,520
    )Energy
    
    
    (466,836
    )Grains
    
    
    (71,272
    )Indices
    
    
    (78,571
    )Interest Rates U.S.
    
    
    (377,748
    )Interest Rates Non-U.S.
    
    
    (237,694
    )Livestock
    
    
    (6,650
    )Metals
    
    
    (134,985
    )Softs
    
    
    (294,415
    )Total unrealized depreciation on open futures contracts
    
    $
    (4,398,691
    )Net unrealized appreciation on open futures contracts
    
    $
    22,153,133
    *
 March 31, 2010AssetsForward ContractsCurrencies
    
    $
    128,246Metals
    
    
    6,118,848Total unrealized appreciation on open forward contracts
    
    $
    6,247,094LiabilitiesForward ContractsCurrencies
    
    $
    (39,900
    )Metals
    
    
    (1,818,140
    )Total unrealized depreciation on open forward contracts
    
    $
    (1,858,040
    )Net unrealized appreciation on open forward contracts
    
    $
    4,389,054
    **AssetsOptions OwnedIndices
    
    $
    28,185Total options owned
    
    $
    28,185
    ***LiabilitiesOptions WrittenIndices
    
    $
    (53,690
    )Total options written
    
    $
    (53,690)
    ****
 
 *
    
    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 owned, at fair value on the Masters Statements of Financial Condition.****
    
    This amount is in Options written, 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
March 31, 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 OwnedIndices

$
17,723Total options owned

$
17,723
***LiabilitiesOptions WrittenIndices

$
(40,733
)Total options written

$
(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 owned, at fair value on
    the Masters Statements of Financial Condition.****
    
    This amount is in Options written, 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
March 31, 2010
(Unaudited)
  Three Months Ended
    
    
    Three Months EndedMarch 31, 2010
    
    
    March 31, 2009Gain (loss) from
    
    
    Gain (loss) fromSector
    
    trading
    
    
    tradingCurrencies
    
    $
    9,979,296
    
    
    $
    (7,358,629
    )Energy
    
    
    787,486
    
    
    
    1,509,404Grains
    
    
    1,251,692
    
    
    
    2,144,844Indices
    
    
    5,725,874
    
    
    
    2,648,011Interest Rates U.S.
    
    
    437,841
    
    
    
    (2,209,172
    )Interest Rates Non-U.S.
    
    
    8,557,012
    
    
    
    5,069Livestock
    
    
    86,010
    
    
    
    224,423Lumber
    
    
    
    
    
    
    902Metals
    
    
    3,162,829
    
    
    
    (1,497,812
    )Softs
    
    
    2,315,582
    
    
    
    (262,948
    )Total
    
    $
    32,303,622
    *****
    
    $
    (4,795,908
    )*****
 
 *****
    
    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
March 31, 2010
(Unaudited)
 4.   Fair Value Measurements :
 Partnerships Investments.
 Partnerships Fair Value Measurements.
   Quoted Pricesin Active Markets
    
    
    Significant Other
    
    
    Significantfor Identical
    
    
    Observable Inputs
    
    
    Unobservable3/31/2010
    
    
    Assets (Level 1)
    
    
    (Level 2)
    
    
    Inputs (Level 3)AssetsInvestment in Master
    
    $
    130,134,468
    
    
    $
    
    
    
    $
    130,134,468
    
    
    $
    Total fair value
    
    $
    130,134,468
    
    
    $
    
    
    
    $
    130,134,468
    
    
    $
    
 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
March 31, 2010
(Unaudited)
 Masters Fair Value Measurements.
  Quoted Prices in
    
    
    
    
    
    
    SignificantActive Markets for
    
    
    Significant Other
    
    
    UnobservableIdentical sets
    
    
    Observable Inputs
    
    
    Inputs3/31/2010
    
    
    (Level 1)
    
    
    (Level 2)
    
    
    (Level 3)AssetsFutures
    
    $
    22,153,133
    
    
    $
    22,153,133
    
    
    $
    
    
    
    $
    Forwards
    
    
    4,389,054
    
    
    
    4,300,708
    
    
    
    88,346
    
    
    
    Options owned
    
    
    28,185
    
    
    
    28,185
    
    
    
    
    
    
    
    Total assets
    
    
    26,570,372
    
    
    
    26,482,026
    
    
    
    88,346
    
    
    
    LiabilitiesOptions written
    
    
    53,690
    
    
    
    53,690
    
    
    
    
    
    
    
    Total liabilities
    
    
    53,690
    
    
    
    53,690
    
    
    
    
    
    
    
    Total fair value
    
    $
    26,516,682
    
    
    $
    26,428,336
    
    
    $
    88,346
    
    
    $
    
 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 owned
      
       
         17,723
       
      
       
         17,723
       
      
       
         
       
      
       
         Total assets
      
       
         1,860,406
       
      
       
         1,860,406
       
      
       
         
       
      
       
         LiabilitiesOptions written
      
       
         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
March 31, 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
March 31, 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




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##### Table of Contents



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




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22




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##### Table of Contents



Item 3. Quantitative and Qualitative Disclosures about Market Risk
         March 31, 2010
(Unaudited)
 Three Months ended March 31, 2010% of Total
    
    
    High
    
    
    Low
    
    
    AverageMarket Sector
    
    Value at Risk
    
    
    Capitalization
    
    
    Value at Risk
    
    
    Value at Risk
    
    
    Value at Risk*Currencies
    
    $
    9,083,159
    
    
    
    1.32
    %
    
    $
    11,936,668
    
    
    $
    3,127,432
    
    
    $
    7,270,193Energy
    
    
    3,489,813
    
    
    
    0.51
    %
    
    
    3,635,199
    
    
    
    345,625
    
    
    
    1,630,460Grains
    
    
    1,666,349
    
    
    
    0.24
    %
    
    
    1,818,433
    
    
    
    932,177
    
    
    
    1,325,446Interest Rates U.S.
    
    
    1,570,837
    
    
    
    0.23
    %
    
    
    4,717,680
    
    
    
    743,921
    
    
    
    2,559,622Interest Rates Non-U.S.
    
    
    6,662,281
    
    
    
    0.97
    %
    
    
    7,909,258
    
    
    
    3,487,657
    
    
    
    6,479,959Livestock
    
    
    194,150
    
    
    
    0.03
    %
    
    
    201,990
    
    
    
    158,080
    
    
    
    187,287Metals
    
    
    7,625,124
    
    
    
    1.11
    %
    
    
    7,950,442
    
    
    
    4,864,229
    
    
    
    6,436,353Softs
    
    
    1,621,394
    
    
    
    0.24
    %
    
    
    2,071,953
    
    
    
    538,916
    
    
    
    952,937Indices
    
    
    22,020,780
    
    
    
    3.19
    %
    
    
    22,020,780
    
    
    
    10,790,520
    
    
    
    17,652,813Total
    
    $
    53,933,887
    
    
    
    7.84
    %
  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
  Credit Crisis Related Matters
   Item 1A. Risk Factors
  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 ProgramsJanuary 1, 2010 -
January 31, 2010
    
    
    
    2,303.6903
    
    
    
    $
    1,036.40
    
    
    
    
    N/A
    
    
    
    
    N/AFebruary 1, 2010 -
February 28, 2010
    
    
    
    2,029.1941
    
    
    
    $
    1,055.39
    
    
    
    
    N/A
    
    
    
    
    N/AMarch 1, 2010 -
March 31, 2010
    
    
    
    930.0665
    
    
    
    $
    1,097.67
    
    
    
    
    N/A
    
    
    
    
    N/A5,262.9509
    
    
    
    $
    1,054.55
   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).3.2
    
    (a)
    
    Amended and Restated Limited Partnership Agreement, dated June 30, 2009
(filed as Exhibit 3.2 to the Form 10-Q filed on November 16, 2009 and incorporated herein by reference).(b)
    
    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, Citigroup Managed Futures LLC and Citigroup Global
Markets Inc., 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, Citigroup Managed Futures LLC and Winton Capital
Management Limited, 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 Winton Capital Management
Limited for 2009, dated June 5, 2008 (filed as Exhibit 10.14 to the Form 10-K filed on March 31, 2009 and incorporated herein by reference).(c)
    
    Letter from the General Partner extending Management Agreement with Winton Capital Management
Limited 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, Citigroup Managed Futures LLC and Citigroup Global Markets
Inc., 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 Subscription Agreement Credit Suisse Securities LLC (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 Morgan Stanley Smith Barney LLC (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, Citigroup Global Markets Inc., 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).16.1
    
    
    
    Letter dated July 23, 2009 from PricewaterhouseCoopers LLP to the Securities and Exchange Commission
(filed as Exhibit 16.1 to the Form 8-K, filed on July 23, 2009 and incorporated herein by reference).16.2
    
    
    
    Letter dated June 26, 2008 from KPMG LLP to the Securities and Exchange Commission
(filed as Exhibit 16.1 to the Form 8-K, filed on July 1, 2008 and incorporated herein by reference).23.1
    
    
    
    Consent from KPMG LLP, dated March 26, 2009 (filed as Exhibit 23.1 to the Form 10-K filed on March 31,
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 and Director)32.1
    
    
    
    Section 1350 Certification (Certification of President and Director)32.2
    
    
    
    Section 1350 Certification (Certification of Chief Financial Officer 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/ Jerry PascucciJerry PascucciPresident and DirectorDate: May 17, 2010By:
    /s/ Jennifer MagroJennifer MagroChief Financial Officer and Director
(Principal Accounting Officer)Date: May 17, 2010   27