**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

**Washington,      D.C.  20549**

----

**FORM      10-Q**

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| **x** | **QUARTERLY                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE                ACT OF                1934** |
|-------|------------------------------------------------------------------------------------------------------------------------------------------|

**For      the Fiscal Quarter Ended September 31, 2007**

| ** ̈** | **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: * *000-52599**

----

**AIS      FUTURES FUND IV L.P.**

----

|                                                                                                                                         |   |                                                                         |
|----------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------|
| **Delaware**                                                                                                                                 |   | **13-3909977**                                                               |
| **(State                or other jurisdiction****of                incorporation or organization)**                                          |   | **(I.R.S.                Employer****Identification                Number)** |
|                                                                                                                                         |   |
|                                                                                                                                         |
| **c/o                AIS FUTURES MANAGEMENT LLC****187                Danbury Road, PO Box 806****Wilton,                Connecticut 06897** |
| **(Address                of Principal Executive Offices)**                                                                                  |
|                                                                                                                                         |

**(203)      563-1180**

**(Registrant’s      telephone number, including area code)**

**  None**

**Limited      Partnership Interests**

|   |  Yes  ý                No  o |
|--------|------------------------------------------------------------|

|   | Large                accelerated filer  o | Accelerated                filer  o | Non-accelerated                filer  ý |
|--------|-----------------------------------------------------|-----------------------------------------------|--------------------------------------------------------|

|   |  Yes  o                No  ý |
|--------|------------------------------------------------------------|

----

**PART      I – FINANCIAL INFORMATION**

**Item      1: Financial Statements **

| **AIS                FUTURES FUND IV L.P.**                                                      |
|--------------------------------------------------------------------------------------------------|
| **STATEMENTS                OF FINANCIAL CONDITION**                                             |
| **September                30, 2007 (Unaudited) and December 31, 2006                (Audited)** |
| _______________                                                                                  |

|                                                                |   |                         |       |   |                        |   |
|---------------------------------------------------------------------|--------|------------------------------|------------|--------|-----------------------------|--------|
|                                                                |   | September                30, |       |   | December                31, |   |
|                                                                |   | 2007                         |       |   | 2006                        |   |
| **ASSETS**                                                          |   |                         |       |   |                        |   |
| Equity                in broker trading account                     |   |                         |       |   |                        |   |
| Cash                (deficit)                                       |   | $                            | (1,567,554 | )      |                        | $      | 3,341,803 |   |
| United                States government securities                  |   |                         | 63,341,456 |   |                        |   | 50,875,254 |   |
| Unrealized                gain (loss) on open contracts             |   |                         | 7,635,492  |   |                        |   | (1,978,076 | ) |
| Interest                receivable                                  |   |                         | 21,151     |   |                        |   | 2,712 |   |
|                                                                |   |                         |       |   |                        |   |   |   |
| Deposits                with broker                                 |   |                         | 69,430,545 |   |                        |   | 52,241,693 |   |
|                                                                |   |                         |       |   |                        |   |   |   |
| Cash                                                                |   |                         | 439,030    |   |                        |   | 546,030 |   |
|                                                                |   |                         |       |   |                        |   |   |   |
| Total                assets                                         |   | $                            | 69,869,575 |   |                        | $      | 52,787,723 |   |
|                                                                |   |                         |       |   |                        |   |   |   |
| **LIABILITIES**                                                     |   |                         |       |   |                        |   |   |   |
| Accounts                payable                                     |   | $                            | 34,226     |   |                        | $      | 51,208 |   |
| Commissions                and other trading fees                   |   |                         |       |   |                        |   |   |   |
| on                open contracts                                    |   |                         | 19,045     |   |                        |   | 19,112 |   |
| Management                Fee payable                               |   |                         | 107,821    |   |                        |   | 72,095 |   |
| Accrued                General Partner Profit Share allocation      |   |                         | 2,847,136  |   |                        |   | 0 |   |
| General                Partner Profit Share allocation payable      |   |                         | 30,541     |   |                        |   | 83,935 |   |
| Selling                Agent administrative and service fee payable |   |                         | 173,496    |   |                        |   | 140,573 |   |
| Subscriptions                received in advance                    |   |                         | 439,000    |   |                        |   | 546,000 |   |
| Redemptions                payable                                  |   |                         | 369,379    |   |                        |   | 130,526 |   |
|                                                                |   |                         |       |   |                        |   |   |   |
| Total                liabilities                                    |   |                         | 4,020,644  |   |                        |   | 1,043,449 |   |
|                                                                |   |                         |       |   |                        |   |   |   |
| **PARTNERS’                CAPITAL (Net Asset Value)**        |   |                         |       |   |                        |   |   |   |
| General                Partner - Series B                           |   |                         | 248,732    |   |                        |   | 179,169 |   |
| Limited                Partners - Series A                          |   |                         | 65,600,199 |   |                        |   | 51,565,105 |   |
|                                                                |   |                         |       |   |                        |   |   |   |
| Total                partners’ capital (Net Asset Value)      |   |                         | 65,848,931 |   |                        |   | 51,744,274 |   |
|                                                                |   |                         |       |   |                        |   |   |   |
|                                                                |   | $                            | 69,869,575 |   |                        | $      | 52,787,723 |   |

----

| **AIS                FUTURES FUND IV L.P.**          |
|------------------------------------------------------|
| **CONDENSED                SCHEDULE OF INVESTMENTS** |
| **September                30, 2007 (Unaudited)**    |
| _______________                                      |

|                                                                                                                          |                                                                        |                                                            |       |                          |           |   |                                                            |       |
|-------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------|-----------------------------------------------------------------|------------|-------------------------------|----------------|--------|-----------------------------------------------------------------|------------|
| **UNITED                STATES GOVERNMENT SECURITIES**                                                                        |                                                                        |                                                            |       |                          |           |   |
| **Face                Value**                                                                                                 | **Maturity                Date**                                            | **Description**                                                 |       | **Fair                Value** |           |   | **%                of Net****Asset                Value**  |
|                                                                                                                          |                                                                        |                                                            |       |                          |           |   |                                                            |       |
|  $     8,000,000                                                                                | 10/04/07                                                                    | U.S.                Treasury Bills                              |       | $                             | 7,993,464      |   |                                                            |       | 12.14 | % |
|         2,000,000                                                                     | 10/11/07                                                                    | U.S.                Treasury Bills                              |       |                          | 1,996,452      |   |                                                            |       | 3.03 | % |
|         6,000,000                                                                     | 11/01/07                                                                    | U.S.                Treasury Bills                              |       |                          | 5,972,557      |   |                                                            |       | 9.07 | % |
|         7,000,000                                                                     | 11/08/07                                                                    | U.S.                Treasury Bills                              |       |                          | 6,961,661      |   |                                                            |       | 10.57 | % |
|         2,000,000                                                                     | 11/15/07                                                                    | U.S.                Treasury Bills                              |       |                          | 1,987,259      |   |                                                            |       | 3.02 | % |
|         7,000,000                                                                     | 11/29/07                                                                    | U.S.                Treasury Bills                              |       |                          | 6,942,418      |   |                                                            |       | 10.54 | % |
|         2,000,000                                                                     | 12/13/07                                                                    | U.S.                Treasury Bills                              |       |                          | 1,980,061      |   |                                                            |       | 3.01 | % |
|         6,000,000                                                                     | 01/03/08                                                                    | U.S.                Treasury Bills                              |       |                          | 5,921,771      |   |                                                            |       | 8.99 | % |
|         4,000,000                                                                     | 01/10/08                                                                    | U.S.                Treasury Bills                              |       |                          | 3,943,891      |   |                                                            |       | 5.99 | % |
|         1,500,000                                                                     | 01/31/08                                                                    | U.S.                Treasury Bills                              |       |                          | 1,475,140      |   |                                                            |       | 2.24 | % |
|         5,000,000                                                                     | 02/07/08                                                                    | U.S.                Treasury Bills                              |       |                          | 4,913,365      |   |                                                            |       | 7.46 | % |
|         1,500,000                                                                     | 02/14/08                                                                    | U.S.                Treasury Bills                              |       |                          | 1,474,624      |   |                                                            |       | 2.24 | % |
|         1,000,000                                                                     | 02/21/08                                                                    | U.S.                Treasury Bills                              |       |                          | 984,096        |   |                                                            |       | 1.49 | % |
|         6,000,000                                                                     | 03/06/08                                                                    | U.S.                Treasury Bills                              |       |                          | 5,889,678      |   |                                                            |       | 8.95 | % |
|         5,000,000                                                                     | 03/20/08                                                                    | U.S.                Treasury Bills                              |       |                          | 4,905,019      |   |                                                            |       | 7.45 | % |
|                                                                                                                          |                                                                        |                                                            |       |                          |           |   |                                                            |       |   |   |
|                                                                                                                          |                                                                        | **Total                United States government securities ***  |       |                          |           |   |                                                            |       |   |   |
|                                                                                                                          |                                                                        | **(cost,                plus accrued interest, - $63,341,456)** |       | **$**                         | **63,341,456** |   |                                                            | ** ** | **96.19** | **%** |
|                                                                                                                          |                                                                        |                                                            |       |                          |           |   |                                                            |       |   |   |
| **LONG                FUTURES CONTRACTS**                                                                                     |                                                                        |                                                            |       |                          |           |   |                                                            |       |   |
|                                                                                                                          | **Description**                                                             |                                                            |       | **Fair                Value** |           |   | **%                of Net****Asset                Value**  |
|                                                                                                                          | Agricultural                                                                |                                                            |       | $                             | 3,104,100      |   |                                                            |       | 4.71 | % |
|                                                                                                                          | Currencies                                                                  |                                                            |       |                          | 115,031        |   |                                                            |       | 0.18 | % |
|                                                                                                                          | Energy                                                                      |                                                            |       |                          | (232,471       | )      |                                                            |       | (0.35 | %) |
|                                                                                                                          | Metals                                                                      |                                                            |       |                          | 4,927,957      |   |                                                            |       | 7.48 | % |
|                                                                                                                          |                                                                        |                                                            |       |                          |           |   |                                                            |       |   |   |
|                                                                                                                          | **Total                long futures contracts**                             |                                                            | ** ** | **7,914,617**                 |           |   | ** **                                                      | **12.02**  | **%** |
|                                                                                                                          |                                                                        |                                                            |       |                          |           |   |                                                            |       |   |   |
| **SHORT                FUTURES CONTRACTS**                                                                                    |                                                                        |                                                            |       |                          |           |   |                                                            |       |   |
| **Number                of Contracts**                                                                                        | **Description**                                                             |                                                            |       |                          |           |   |                                                            |       |   |   |
|                                                                                                                          |                                                                        |                                                            |       |                          |           |   |                                                            |       |   |   |
|                                                                                                                          | Stock                Index                                                  |                                                            |       |                          | (374,625       | )      |                                                            | ** ** | **(0.57** | **%)** |
|                                                                                                                          |                                                                        |                                                            |       |                          |           |   |                                                            |       |   |   |
| 382                                                                                                                           | Interest                Rates (30 Year U.S. Treasury Bond, expires 12/2007) |                                                            |       | 95,500                        |           |   | ** **                                                      | **0.15**   | **%** |
|                                                                                                                          |                                                                        |                                                            |       |                          |           |   |                                                            |       |   |
|                                                                                                                          | **Total                short futures contracts**                            |                                                            | ** ** | **(279,125**                  | **)**          |   | ** **                                                      | **(0.42**  | **%)** |
|                                                                                                                          |                                                                        |                                                            |       |                          |           |   |                                                            |       |   |   |
|                                                                                                                          | **Total                futures contracts**                                  |                                                            | **$**      | **7,635,492**                 |           |   | ** **                                                      | **11.60**  | **%** |
|                                                                                                                          |                                                                        |                                                            |       |                          |           |   |                                                            |       |   |   |
| *  Pledged                as collateral for the trading of futures and options on futures                contracts. |                                                                        |                                                            |       |                          |           |   |                                                            |       |

----

| **AIS                FUTURES FUND IV L.P.**          |
|------------------------------------------------------|
| **CONDENSED                SCHEDULE OF INVESTMENTS** |
| **December                31, 2006 (Audited)**       |
| _______________                                      |

| **UNITED                STATES GOVERNMENT SECURITIES**                                                                  |                                   |       |                             |                                                                        |                                                            |                          |
|-------------------------------------------------------------------------------------------------------------------------|----------------------------------------|------------|----------------------------------|-----------------------------------------------------------------------------|-----------------------------------------------------------------|-------------------------------|
|                                                                                                                    | **Face                Value**          |       | **Maturity                Date** | **Description**                                                             |                                                            | **Fair                Value** |   |   | **%                of Net****Asset                Value**  |
|                                                                                                                    |                                   |       |                             |                                                                        |                                                            |                          |   |   |   |   |
|                                                                                                                    | $                                      | 9,000,000  |                             | 01/04/07                                                                    | U.S.                Treasury Bills                              |                          | $ | 8,992,318 |   |   |   | 17.38 | % |
|                                                                                                                    |                                   | 2,000,000  |                             | 01/11/07                                                                    | U.S.                Treasury Bills                              |                          |   | 1,996,279 |   |   |   | 3.86 | % |
|                                                                                                                    |                                   | 500,000    |                             | 01/18/07                                                                    | U.S.                Treasury Bills                              |                          |   | 498,584 |   |   |   | 0.96 | % |
|                                                                                                                    |                                   | 6,000,000  |                             | 02/01/07                                                                    | U.S.                Treasury Bills                              |                          |   | 5,971,749 |   |   |   | 11.54 | % |
|                                                                                                                    |                                   | 8,000,000  |                             | 04/05/07                                                                    | U.S.                Treasury Bills                              |                          |   | 7,893,629 |   |   |   | 15.26 | % |
|                                                                                                                    |                                   | 11,000,000 |                             | 05/03/07                                                                    | U.S.                Treasury Bills                              |                          |   | 10,811,138 |   |   |   | 20.89 | % |
|                                                                                                                    |                                   | 9,000,000  |                             | 05/10/07                                                                    | U.S.                Treasury Bills                              |                          |   | 8,836,491 |   |   |   | 17.08 | % |
|                                                                                                                    |                                   | 6,000,000  |                             | 05/31/07                                                                    | U.S.                Treasury Bills                              |                          |   | 5,875,066 |   |   |   | 11.35 | % |
|                                                                                                                    |                                   |       |                             |                                                                        |                                                            |                          |   |   |   |   |   |   |   |
|                                                                                                                    |                                   |       |                             |                                                                        | **Total                United States government securities ***  |                          |   |   |   |   |   |   |   |
|                                                                                                                    |                                   |       |                             |                                                                        | **(cost,                plus accrued interest, - $50,875,254)** |                          | **$** | **50,875,254** |   |   | ** ** | **98.32** | **%** |
|                                                                                                                    |                                   |       |                             |                                                                        |                                                            |                          |   |   |   |   |   |   |   |
| **LONG                FUTURES CONTRACTS**                                                                               |                                   |       |                             |                                                                        |                                                            |                          |   |   |   |
|                                                                                                                    |                                   |       |                             | **Description**                                                             |                                                            |                          | **Fair                Value** |   |   | **%                of Net****Asset                Value**  |
|                                                                                                                    |                                   |       |                             |                                                                        |                                                            |                          |   |   |   |   |   |   |   |
|                                                                                                                    |                                   |       |                             | Agricultural                                                                |                                                            |                          | $ | 10,090 |   |   |   | 0.02 | % |
|                                                                                                                    |                                   |       |                             | Currencies                                                                  |                                                            |                          |   | (953,587 | ) |   |   | (1.84 | %) |
|                                                                                                                    |                                   |       |                             | Energy                                                                      |                                                            |                          |   | (732,312 | ) |   |   | (1.42 | %) |
|                                                                                                                    |                                   |       |                             | Stock                Index                                                  |                                                            |                          |   | 43,050 |   |   |   | 0.08 | % |
|                                                                                                                    |                                   |       |                             | Metals                                                                      |                                                            |                          |   | (1,423,598 | ) |   |   | (2.75 | %) |
|                                                                                                                    |                                   |       |                             |                                                                        |                                                            |                          |   |   |   |   |   |   |   |
|                                                                                                                    |                                   |       |                             | **Total                long futures contracts**                             |                                                            | ** **                    | **(3,056,357** | **)** |   | ** ** | **(5.91** | **%)** |
|                                                                                                                    |                                   |       |                             |                                                                        |                                                            |                          |   |   |   |   |   |   |   |
| **SHORT                FUTURES CONTRACTS**                                                                              |                                   |       |                             |                                                                        |                                                            |                          |   |   |   |
|                                                                                                                    | **Number                of Contracts** |       | **Description**                  |                                                                        |                                                            |                          |   |   |   |   |   |   |
|                                                                                                                    |                                   |       |                             |                                                                        |                                                            |                          |   |   |   |   |   |   |   |
|                                                                                                                    |                                   | 335        |                             | Interest                Rates (30 Year U.S. Treasury Bond, expires 03/2007) |                                                            | ** **                    | **1,078,281** |   |   | ** ** | **2.08** | **%** |
|                                                                                                                    |                                   |       |                             |                                                                        |                                                            |                          |   |   |   |   |   |   |
|                                                                                                                    |                                   |       |                             |                                                                        |                                                            |                          |   |   |   |   |   |   |
|                                                                                                                    |                                   |       |                             |                                                                        |                                                            |                          |   |   |   |   |   |   |
|                                                                                                                    |                                   |       |                             |                                                                        |                                                            |                          |   |   |   |   |   |   |
|                                                                                                                    |                                   |       |                             | **Total                futures contracts**                                  |                                                            | **$**                         | **(1,978,076** | **)** |   | ** ** | **(3.83** | **%)** |
|                                                                                                                    |                                   |       |                             |                                                                        |                                                            |                          |   |   |   |   |   |   |   |
|                                                                                                                    |                                   |       |                             |                                                                        |                                                            |                          |   |   |   |   |   |   |   |
| * Pledged                as collateral for the trading of futures and options on futures                contracts. |                                   |       |                             |                                                                        |                                                            |                          |   |   |

----

| **AIS                FUTURES FUND IV L.P.**                                                                          |   |
|----------------------------------------------------------------------------------------------------------------------|--------|
| **STATEMENTS                OF OPERATIONS**                                                                          |   |
| **For                the Three Months and Nine Months Ended September 30, 2007 and 2006                (Unaudited)** |   |
| _______________                                                                                                      |   |

|                                                         |   |                              |       |   |                             |   |
|--------------------------------------------------------------|--------|-----------------------------------|------------|--------|----------------------------------|--------|
|                                                         |   | Three                Months Ended |       |   | Nine                Months Ended |   |
|                                                         |   | September                30,      |       |   | September                30,     |   |
|                                                         |   | 2007                              |       |   | 2006                             |   |   | 2007 |   |   | 2006 |   |
| **TRADING                GAINS (LOSSES)**                    |   |                              |       |   |                             |   |   |   |   |   |   |   |
| Trading                gains (losses)                        |   |                              |       |   |                             |   |   |   |   |   |   |   |
| Realized                                                     |   | $                                 | 3,248,287  |   |                             | $      | (5,328,359 | ) |   | $ | 8,341,478 |   |   | $ | 409,610 |   |
| Change                in unrealized                          |   |                              | 10,269,572 |   |                             |   | (5,706,347 | ) |   |   | 9,613,568 |   |   |   | (7,951,354 | ) |
| Brokerage                commissions                         |   |                              | (20,600    | )      |                             |   | (21,579 | ) |   |   | (110,976 | ) |   |   | (79,537 | ) |
|  Total                trading gains (losses)            |   |                              | 13,497,259 |   |                             |   | (11,056,285 | ) |   |   | 17,844,070 |   |   |   | (7,621,281 | ) |
|                                                         |   |                              |       |   |                             |   |   |   |   |   |   |   |   |   |   |   |
| **NET                INVESTMENT INCOME (LOSS)**              |   |                              |       |   |                             |   |   |   |   |   |   |   |   |   |   |   |
| Income                                                       |   |                              |       |   |                             |   |   |   |   |   |   |   |   |   |   |   |
| Interest                income                               |   |                              | 730,370    |   |                             |   | 612,006 |   |   |   | 2,149,344 |   |   |   | 1,487,292 |   |
|                                                         |   |                              |       |   |                             |   |   |   |   |   |   |   |   |   |   |   |
| Expenses                                                     |   |                              |       |   |                             |   |   |   |   |   |   |   |   |   |   |   |
| Selling                Agent Administrative and Service Fee  |   |                              | 402,673    |   |                             |   | 359,952 |   |   |   | 1,198,799 |   |   |   | 921,382 |   |
| Management                Fees                               |   |                              | 285,784    |   |                             |   | 180,718 |   |   |   | 778,507 |   |   |   | 465,346 |   |
| Operating                expenses                            |   |                              | 67,248     |   |                             |   | 22,980 |   |   |   | 117,448 |   |   |   | 44,430 |   |
|                                                         |   |                              |       |   |                             |   |   |   |   |   |   |   |   |   |   |   |
| Total                expenses                                |   |                              | 755,705    |   |                             |   | 563,650 |   |   |   | 2,094,754 |   |   |   | 1,431,158 |   |
|                                                         |   |                              |       |   |                             |   |   |   |   |   |   |   |   |   |   |   |
| Net                investment income (loss)                  |   |                              | (25,335    | )      |                             |   | 48,356 |   |   |   | 54,590 |   |   |   | 56,134 |   |
|                                                         |   |                              |       |   |                             |   |   |   |   |   |   |   |   |   |   |   |
| NET                INCOME (LOSS)                             |   |                              | 13,471,924 |   |                             |   | (11,007,929 | ) |   |   | 17,898,660 |   |   |   | (7,565,147 | ) |
|                                                         |   |                              |       |   |                             |   |   |   |   |   |   |   |   |   |   |   |
| Less:                General Partner Profit Share allocation |   |                              | 2,433,086  |   |                             |   | (670,348 | ) |   |   | 2,929,488 |   |   |   | 54,633 |   |
|                                                         |   |                              |       |   |                             |   |   |   |   |   |   |   |   |   |   |   |
| Net                income (loss) for pro rata                |   |                              |       |   |                             |   |   |   |   |   |   |   |   |   |   |   |
| allocation                to all partners                    |   | $                                 | 11,038,838 |   |                             | $      | (10,337,581 | ) |   | $ | 14,969,172 |   |   | $ | (7,619,780 | ) |

----

| **AIS                FUTURES FUND IV L.P.**                                                          |
|------------------------------------------------------------------------------------------------------|
| **STATEMENTS                OF CHANGES IN PARTNERS’ CAPITAL (NET ASSET                VALUE)** |
| **For                the Nine Months Ended September 30, 2007 and 2006                (Unaudited)**  |
| _______________                                                                                      |

|                                                   |   | Partners’                Capital |    |
|--------------------------------------------------------|--------|----------------------------------------|---------|
|                                                   |   | Series                B                |    |   | Series                A |   |   |   |   |
|                                                   |   | General                                |    |   | Limited |   |   |   |   |
|                                                   |   | Partner                                |    |   | Partners |   |   | Total |   |
|                                                   |   |                                   |    |   |   |   |   |   |   |
|                                                   |   |                                   |    |   |   |   |   |   |   |
| Balances                at December 31, 2006           |   | $                                      | 179,169 |   |   | $ | 51,565,105 |   |   | $ | 51,744,274 |   |
|                                                   |   |                                   |    |   |   |   |   |   |   |   |   |   |
| Net                income for the nine months          |   |                                   |    |   |   |   |   |   |   |   |   |   |
|  ended                September 30, 2007          |   |                                   |    |   |   |   |   |   |   |   |   |   |
| General                Partner Profit Share allocation |   |                                   | 82,352  |   |   |   | 0 |   |   |   | 82,352 |   |
| Pro                rata allocation to all partners     |   |                                   | 69,563  |   |   |   | 14,899,609 |   |   |   | 14,969,172 |   |
|                                                   |   |                                   |    |   |   |   |   |   |   |   |   |   |
| Subscriptions                                     |   |                                   | 0       |   |   |   | 8,375,525 |   |   |   | 8,375,525 |   |
| Redemptions                                       |   |                                   | (82,352 | ) |   |   | (9,240,040 | ) |   |   | (9,322,392 | ) |
| Balances                at September 30, 2007          |   | $                                      | 248,732 |   |   | $ | 65,600,199 |   |   | $ | 65,848,931 |   |
|                                                   |   |                                   |    |   |   |   |   |   |   |   |   |   |
| Balances                at December 31, 2005,          |   |                                   |    |   |   |   |   |   |   |   |   |   |
| as                previously reported                  |   | $                                      | 170,968 |   |   | $ | 28,194,561 |   |   | $ | 28,365,529 |   |
|                                                   |   |                                   |    |   |   |   |   |   |   |   |   |   |
| Restatement                for redemptions (Note 1)    |   |                                   |    |   |   |   |   |   |   |   |   |   |
| December                31, 2005                       |   |                                   | 0       |   |   |   | (481,198 | ) |   |   | (481,198 | ) |
|                                                   |   |                                   |    |   |   |   |   |   |   |   |   |   |
| Balances                at December 31, 2005,          |   |                                   |    |   |   |   |   |   |   |   |   |   |
| as                restated                             |   |                                   | 170,968 |   |   |   | 27,713,363 |   |   |   | 27,884,331 |   |
|                                                   |   |                                   |    |   |   |   |   |   |   |   |   |   |
| Net                income (loss) for the nine months   |   |                                   |    |   |   |   |   |   |   |   |   |   |
|  ended                September 30, 2006          |   |                                   |    |   |   |   |   |   |   |   |   |   |
| General                Partner Profit Share allocation |   |                                   | 49,987  |   |   |   | 0 |   |   |   | 49,987 |   |
| Pro                rata allocation to all partners     |   |                                   | (12,257 | ) |   |   | (7,607,523 | ) |   |   | (7,619,780 | ) |
|                                                   |   |                                   |    |   |   |   |   |   |   |   |   |   |
| Subscriptions                                          |   |                                   | 0       |   |   |   | 27,323,040 |   |   |   | 27,323,040 |   |
|                                                   |   |                                   |    |   |   |   |   |   |   |   |   |   |
| Redemptions                                            |   |                                   | (49,987 | ) |   |   | (2,666,856 | ) |   |   | (2,716,843 | ) |
| Balances                at September 30, 2006          |   | $                                      | 158,711 |   |   | $ | 44,762,024 |   |   | $ | 44,920,735 |   |

----

**AIS      FUTURES FUND IV L.P.**

**NOTES      TO FINANCIAL STATEMENTS**

|  | A. | General                Description of the Partnership |
|--|----|-------------------------------------------------------|

|   | AIS                Futures Fund IV L.P. (the “Partnership”) is a Delaware limited                partnership, which operates as a commodity investment pool.  The                Partnership engages in the speculative trading of futures contracts                and                options on futures contracts.  The Partnership is subject to the                regulations of the Commodity Futures Trading Commission, an agency                of the                United States (U.S.) government which regulates most aspects of the                commodity futures industry; rules of the National Futures Association,                an                industry self-regulatory organization; and the requirements of commodity                exchanges and Futures Commission Merchants (brokers) through which                the                Partnership trades. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | The                limited partnership agreement provides, among other things, that                the                Partnership shall dissolve no later than December 31,                2026. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | B. | Method                of Reporting |
|--|----|------------------------------------|

|   | C. | Futures                and Options on Futures Contracts |
|--------|----|---------------------------------------------------------|

|  | D. | Securities |
|--|----|------------|

|   | United                States government securities are stated at cost plus accrued interest,                which approximates fair value. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------|

|  | E. | Income                Taxes |
|--|----|-----------------------------|

|   | The                Partnership prepares calendar year U.S. and applicable state information                tax returns and reports to the partners their allocable shares of                the                Partnership’s income, expenses and trading gains or losses.  No                provision for income taxes has been made in these financial statements                as                each partner is individually responsible for reporting income or                loss                based on its respective share of the Partnership’s income and expenses as                reporting for income tax purposes. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | On                January 1, 2007, the Partnership adopted the Financial Accounting                Standards Board Interpretation No. 48, “Accounting for Uncertainty in                Income Taxes – An Interpretation of FASB Statement No. 109” (FIN                48).  This Interpretation clarifies the accounting for                uncertainty in income taxes recognized in a company’s financial                statements.  FIN 48 requires companies to determine whether it                is “more likely than not” that a tax position will be sustained upon                examination by the appropriate taxing authorities before any part                of the                benefit can be recorded in the                financial |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**AIS      FUTURES FUND IV L.P.**

**NOTES      TO FINANCIAL STATEMENTS (CONTINUED)**

|   | statements.  It                also provides guidance on the recognition, measurement and classification                of income tax uncertainties, along with any related interest and                penalties.  Implementation of FIN 48 did not have a material                impact on the Partnership’s financial                statements. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | F. | Capital                Accounts |
|--------|----|---------------------------------|

|   | The                Partnership offers two Series of Units.  The Series A Units are                available to all qualified investors, subject to applicable conditions                and                restrictions.  The Series B Units are available for sale to the                General Partner and its principals.  The Partnership does not                report net asset value per unit, as each investors net asset value                per                unit may vary due to timing of subscriptions and redemptions and                applicability of the General Profit Share allocation based on each                Limited                Partner’s capital account balances rather than the Partnership as a whole.                The Partnership accounts for subscriptions, allocations and redemptions                on                a per partner capital account basis.  Income or loss, prior to                the General Partner Profit Share allocation, is allocated pro rata                to the                capital accounts of all partners.  The General Partner Profit                Share allocation applicable to each Limited Partner is allocated                to the                General Partner’s capital account from the Limited Partner’s capital                account at the end of each calendar year or upon redemption by a                Limited                Partner.  For interim accounting periods, the General Partner                Profit Share allocation is accrued, based on defined New Trading                Profit to                date, and is reflected as a liability of the Partnership in the statement                of financial condition. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | G. | Redemptions |
|--------|----|-------------|

|   | In                September 2006, the FASB issued Statement of Financial Accounting                Standards No. 157, “Fair Value Measurements” (FAS 157).  FAS 157                defines fair value, establishes a framework for measuring fair value                in                accounting principles generally accepted in the United States of                America,                and expands disclosures about fair value measurements.  While                FAS 157 does not require any new fair value measurements, for some                entities, the application of FAS 157 may change current                practice.  FAS 157 is effective for financial statements issued                for fiscal years beginning after November 15, 2007, and interim periods                within those fiscal years.  The implementation of FAS 157 is not                expected to have a material impact on the Partnership’s financial                statements. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**AIS      FUTURES FUND IV L.P.**

**NOTES      TO FINANCIAL STATEMENTS (CONTINUED)**

|  | J. | Fair                Value |
|--|----|---------------------------|

|  | K. | Change                in Accounting Principle and Prior Period                Restatement |
|--|----|-------------------------------------------------------------------------------------------|

|  | L. | Interim                Financial Statements |
|--|----|---------------------------------------------|

----

**AIS      FUTURES FUND IV L.P.**

**NOTES      TO FINANCIAL STATEMENTS (CONTINUED)**

|   | Certain                Series A Limited Partners that were solicited by  Selling Agents                are charged an Administrative and Service Fee (the “Service Fee” equal to                1/12 of 2.5% (2.5% annually) of each Series A Limited Partner’s month-end                Net Assets, as defined, sold by them which remain outstanding as                of each                month-end.  The Selling Agents may pass on a portion of the                Service Fee to its investment executives.  In the event the                Service Fee is no longer payable to a Selling Agent, the relevant                Limited                Partner who was solicited by such Selling Agent will no longer be                charged                the Service Fee.  For the three and nine months ended September                30, 2007 and 2006, certain Limited Partners were not subject to the                Service Fee. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | For                investment executives associated with the sale of Limited Partner                Interests in excess of $500,000, the investment executive’s firm will                receive an additional 1.5% per annum Service Fee with respect to                such                Limited Partner Interests in excess of $500,000, for the first twelve                months following the sale of such Limited Partner                Interests.  The additional Service Fee is paid by the                Partnership, however, the General Partner reduces their Management                Fee                (see Note 2.) related to the Limited Partner’s                Interest.  Accordingly,  this additional Service Fee                does not affect the total fees charged to the Limited                Partner. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | The                Partnership deposits funds with its clearing broker subject to Commodity                Futures Trading Commission regulations and various exchange and broker                requirements.  Margin requirements are satisfied by the deposit                of U.S. Treasury bills and cash with such broker.  Accordingly,                assets used to meet margin and other broker or regulatory requirements                are                partially restricted.  The Partnership earns interest income on                its assets deposited with the                broker. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Investments                in the Partnership are made by subscription agreement, subject to                acceptance by the General Partner.  A selling commission of up                to 2% of the subscription amount may be deducted from the subscription                proceeds and paid to the applicable Selling Agent, if any.  For                the three and nine months ended September 30, 2007 and 2006, $0,                $350, $0                and $1,050, respectively, in selling commissions were charged to                Limited                Partners.  Limited Partner additions, as presented in the                statement of changes in partners’ capital (net asset value), are net of                such selling commissions. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | The                Partnership is not required to make distributions, but may do so                at the                sole discretion of the General Partner.  A Limited Partner may                request and receive partial or full redemptions of their capital                account                as of the close of business on the last business day of any month,                subject                to restrictions in the Limited Partnership                Agreement. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

** AIS      FUTURES FUND IV L.P.**

**NOTES      TO FINANCIAL STATEMENTS (CONTINUED)**

|   | Purchase                and sale of futures and options on futures contracts requires margin                deposits with the broker. Additional deposits may be necessary for                any                loss on contract value.  The Commodity Exchange Act requires a                broker to segregate all customer transactions and assets from such                broker’s proprietary activities. A customer’s cash and other property (for                example, U.S. Treasury bills) deposited with a broker are considered                commingled with all other customer funds subject to the broker’s                segregation requirements.  In the event of a broker’s                insolvency, recovery may be limited to a pro rata share of segregated                funds available.  It is possible that the recovered amount could                be less than total cash and other property                deposited. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | For                futures and options on futures contracts, risks arise from changes                in the                market value of the contracts. Theoretically, the Partnership is                exposed                to a market risk equal to the notional contract value of futures                contracts                purchased and unlimited liability on such contracts sold                short.  As both a buyer and seller of options, the Partnership                pays or receives a premium at the outset and then bears the risk                of                unfavorable changes in the price of the contract underlying the                option.  Written options expose the Partnership to potentially                unlimited liability; for purchased options, the risk of loss is limited                to                the premiums paid. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | In                addition to market risk, in entering commodity interest contracts,                there                is a credit risk that a counterparty will not be able to meet its                obligations to the Partnership.  The counterparty for futures                and options on futures contracts traded in the United States and                on most                non-U.S. futures exchanges is the clearinghouse associated with such                exchange.  In general, clearinghouses are backed by the                corporate members of the clearinghouse who are required to share                any                financial burden resulting from the nonperformance by one of their                members                and, as such, should significantly reduce the credit                risk. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | The                Partnership maintains its cash in bank deposit accounts that, at                times,                may exceed federally insured limits.  The Partnership has not                experienced any losses in such accounts.  The General Partner                believes the Partnership is not exposed to any significant credit                risk on                cash. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | The                General Partner has established procedures to actively monitor market                risk                and minimize credit risk, although there can be no assurance that                it will,                in fact, succeed in doing so.  The Limited Partners bear the                risk of loss only to the extent of their respective investments and,                in                certain specific circumstances, distributions and redemptions                received. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | In                the normal course of business, the Partnership enters into contracts                and                agreements that contain a variety of representations and warranties                and                which provide general indemnifications.  The Partnership’s                maximum exposure under these arrangements is unknown, as this would                involve future claims that may be made against the Partnership that                have                not yet occurred.  The Partnership expects the risk of any                future obligation under these indemnifications to be                remote. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**AIS      FUTURES FUND IV L.P.**

**NOTES      TO FINANCIAL STATEMENTS (CONTINUED)**

|   | The                following information presents the financial highlights of the Partnership                for the three months and nine months ended September 30, 2007 and                2006.  This information has been derived from information                presented in the financial                statements. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                                                                          |   |                              |   |   |                             |   |   |        |   |   |        |   |
|-----------------------------------------------------------------------------------------------|--------|-----------------------------------|--------|--------|----------------------------------|--------|--------|-------------|--------|--------|-------------|--------|
|                                                                                          |   |                              |   |   |                             |   |   |        |   |   |        |   |
|                                                                                          |   |                              |   |   |                             |   |   |        |   |   |        |   |
|                                                                                          |   | Three                months ended |   |   | Nine                months ended |   |
|                                                                                          |   | September                30,      |   |   | September                30,     |   |
|                                                                                          |   | 2007                              |   |   | 2006                             |   |   | 2007        |   |   | 2006        |   |
|                                                                                          |   | (Unaudited)                       |   |   | (Unaudited)                      |   |   | (Unaudited) |   |   | (Unaudited) |   |
| **Total                return for Series A Limited Partners taken as a                whole** |   |                              |   |   |                             |   |   |        |   |   |        |   |
|                                                                                          |   |                              |   |   |                             |   |   |        |   |   |        |   |
| Total                return before Profit Share allocation (3)                                |   |                              | 24.15  | %      |                             |   | (19.80 | )%          |   |   | 34.23       | %      |   |   | (10.26 | )% |
| Profit                Share allocation (3)                                                    |   |                              | (4.40  | )%     |                             |   | 1.14   | %           |   |   | (5.85       | )%     |   |   | (0.41 | )% |
|                                                                                          |   |                              |   |   |                             |   |   |        |   |   |        |   |   |   |   |   |
| Total                return after Profit Share allocation                                     |   |                              | 19.75  | %      |                             |   | (18.66 | )%          |   |   | 28.38       | %      |   |   | (10.67 | )% |
|                                                                                          |   |                              |   |   |                             |   |   |        |   |   |        |   |   |   |   |   |
| **Supplemental                Data for Series A Limited Partners**                            |   |                              |   |   |                             |   |   |        |   |   |        |   |   |   |   |   |
|                                                                                          |   |                              |   |   |                             |   |   |        |   |   |        |   |   |   |   |   |
| *Ratios                to average net asset value:*                                           |   |                              |   |   |                             |   |   |        |   |   |        |   |   |   |   |   |
| Expenses,                excluding Profit Share allocation (2)                                |   |                              | 5.32   | %      |                             |   | 4.37   | %           |   |   | 4.93        | %      |   |   | 4.55 | % |
| Profit                Share allocation (3)                                                    |   |                              | 4.28   | %      |                             |   | (1.30  | )%          |   |   | 5.17        | %      |   |   | 0.13 | % |
|                                                                                          |   |                              |   |   |                             |   |   |        |   |   |        |   |   |   |   |   |
| Total                expenses                                                                 |   |                              | 9.60   | %      |                             |   | 3.07   | %           |   |   | 10.10       | %      |   |   | 4.68 | % |
|                                                                                          |   |                              |   |   |                             |   |   |        |   |   |        |   |   |   |   |   |
| Net                investment income (loss) (1) ,                (2)                          |   |                              | (0.19  | )%     |                             |   | 0.37   | %           |   |   | 0.11        | %      |   |   | 0.16 | % |

*The      total returns and ratios are presented for Series A Limited Partners taken      as a      whole based on the Partnership’s standard Management Fee, Service Fee and Profit      Share allocation arrangements.  An individual partner’s total returns      and ratios may vary from the above total returns and ratios based on the timing      of their capital additions and redemptions and given potentially different      fee      arrangements for a Series A Limited Partner.*

|   | *The                total returns and ratios exclude the effects of any 2% upfront selling                commissions charged by Selling                Agents.* |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (1) | The                net investment income (loss) is comprised of interest income less                total                expenses, excluding the General Partner Profit Share                allocation. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2) | Annualized. |
|--|-----|-------------|

|  | (3) | Not                annualized. |
|--|-----|--------------------------------|

----

**Item      2: Management’s Discussion and Analysis of Financial Condition and Results of      Operations**

**Operational      Overview**

**Liquidity      and Capital Resources**

**Results      of Operations**

----

| Sector                             | %                Gain (Loss) |
|------------------------------------|------------------------------|
|                               |                         |
| S&P                500         | (0.91)                %      |
| Bonds                              | (2.59)                %      |
| Yen                                | 4.14                %        |
| Energy                             | 4.72                %        |
| Metals                             | 7.85                %        |
| Grains                             | 10.82                %       |
|                               |                         |
| **Total                Portfolio** | **24.20                %**   |

| Sector                             | %                Gain (Loss) |
|------------------------------------|------------------------------|
|                               |                         |
| S&P                500         | 1.40                %        |
| Bonds                              | (2.92)                %      |
| Yen                                | (2.92)                %      |
| Energy                             | (10.69)                %     |
| Metals                             | (0.51)                %      |
| Grains                             | (4.87)                %      |
|                               |                         |
| **Total                Portfolio** | **(19.83)                %** |

| Sector                             | %                Gain (Loss) |
|------------------------------------|------------------------------|
|                               |                         |
| S&P                500         | (3.79)                %      |
| Bonds                              | (0.71)                %      |
| Yen                                | 0.15                %        |
| Energy                             | 12.52                %       |
| Metals                             | 7.97                %        |
| Grains                             | 16.32                %       |
|                               |                         |
| **Total                Portfolio** | **33.76                %**   |

----

| Sector                             | %                Gain (Loss) |
|------------------------------------|------------------------------|
|                               |                         |
| S&P                500         | (0.89)                %      |
| Bonds                              | (0.00)                %      |
| Yen                                | (3.14)                %      |
| Energy                             | (10.08)                %     |
| Metals                             | 13.94                %       |
| Grains                             | (6.44)                %      |
|                               |                         |
| **Total                Portfolio** | **(10.10)                %** |

**Item      3: Quantitative and Qualitative Disclosures About Market Risk**

**Item      4: Controls and Procedures**

**Item      4T: Controls and Procedures**

**PART      II – OTHER INFORMATION**

**Item      1:  Legal Proceedings**

**Item      1A:  Risk Factors**

**Item      2:  Unregistered Sales of Equity Securities and Use of      Proceeds**

----

**(a)**

**(b)**

**(c)**

| Month                             |   | Withdrawal                Amounts |       |
|-----------------------------------|--------|-----------------------------------|------------|
| July                31, 2007      |   | $                                 | (4,075,862 | ) |
| August                31, 2007    |   | $                                 | (563,556   | ) |
| September                30, 2007 |   | $                                 | (369,379   | ) |

**Item      3:  Defaults Upon Senior Securities**

**(a)**

**(b)**

**Item      4:  Submission of Matters to a Vote of Security Holders**

**Item      5:  Other Information**

**(a)**

**(b)**

**Item      6: Exhibits**

| Exhibit                Number | Description                of Document                                                                                             |
|-------------------------------|------------------------------------------------------------------------------------------------------------------------------------|
| 3.1                           | Certificate                of Formation of AIS Futures Fund IV L.P.                                                                |
| 4.1                           | Second                Amended and Restated Limited Partnership Agreement of AIS Futures                Fund IV                L.P. |
| 10.1                          | Customer                Agreement between Calyon Financial Inc. and AIS Futures Fund IV                L.P.                        |

| Exhibit                Number | Description                of Document                |
|-------------------------------|-------------------------------------------------------|
| 31.01                         | Rule                13a-14(a)/15d-14(a) Certification |
| 32.01                         | Section                1350 Certification             |

----

**SIGNATURES**

----