FORM 10-K

                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549

(Mark One)

[X]	ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND
EXCHANGE ACT OF 1934

For the year ended  12-31-2011

OR

[ ]	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  333-85755

                 BROMWELL FINANCIAL FUND, LIMITED PARTNERSHIP
            (Exact name of registrant as specified in its charter)

			    Delaware		    51-0387638
		State or other jurisdiction of	(I.R.S. Employer
		incorporation or organization	Identification No.)

                   505 Brookfield Drive, Dover, DE        19901
              (Address of principal executive offices)	(Zip Code)

Registrant's telephone number, including area code:      (800) 331-1532

          Securities registered pursuant to Section 12(b) of the Act:

	Title of each class	Name of each exchange on which registered
	None				None

          Securities registered pursuant to Section 12(g) of the Act:

                           Limited Partnership Units
                               (Title of class)

Indicate by check mark if the registrant is a well-known seasoned issuer, as
defined in Rule 405 of the Securities Act.   Yes [  ]   No [ X ]

Indicate by check mark if the registrant is not required to file reports
pursuant to Section 13 or Section 15(d) of the Act.   Yes [  ] No [X]

Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days.  Yes [X] No [  ]

Indicate by check mark whether the registrant has submitted electronically and
posted on its corporate Web site, if any, every Interactive Data File required
to be submitted and posted pursuant to Rule 405 of Regulation S-T (S 232.405
of this chapter) during the preceding 12 months (or for such shorter period
that the registrant was required to submit and post such files).
Yes [ ] No [ ] N/A

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K (S 229.405 of this chapter)  is not contained herein, and
will not be contained, to the best of registrant's knowledge, in definitive
proxy or information statements incorporated by reference in Part III of this
Form 10-K or any amendment to this Form 10-K.  [  ]

Indicate by check mark whether the Registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting company.
See definitions of "large accelerated filer," "accelerated filer" and "smaller
reporting company" in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer [  ]
Accelerated filer [  ]
Non-accelerated filer [X] (Do not check if a smaller reporting company)
Smaller reporting company [  ]

Indicate by check mark whether the registrant is a shell company (as defined
in Rule 12b-2 of the Act).

Yes [ ] No [X]

State the aggregate market value of the voting and non-voting common equity
held by non-affiliates computed by reference to the price at which the common
equity was last sold, or the average bid and asked price of such common
equity, as of the last business day of the registrant's most recently
completed second fiscal quarter.:  Not applicable.  There is no market for the
Units of partnership interests and none is expected to develop.  The
Registrant is a commodity pool.  The Units are registered to permit the
initial sale of Units at month end net asset value.

<page>
Documents Incorporated by Reference

Registration Statement on Form S-1 and all amendments thereto filed with the
United States Securities and Exchange Commission at Registration No. 333-85755
are incorporated by reference to Parts I, II, III, and IV.

PART I

Item 1.  Business

On March 16, 2000, the registration statement filed by Bromwell Financial
Fund, Limited Partnership, (the "Fund")  with the Securities and Exchange
Commission (the "SEC"), which incorporated the disclosure document filed with
the Commodity Futures Trading Commission (the "CFTC") was declared effective.
Offers and sales of the Fund's limited partnership interests (the "Units") at
the initial price of $1,000 per Unit commenced on that date to residents of
the States selected by the General Partner.  As of July 11, 2000, the Fund had
sold in excess of the $700,000 in face amount of Units, the amount required to
break escrow and deliver the sales proceeds to the Fund accounts to permit it
to commence the speculative trading of commodity futures.  Trading commenced
in July, 2000.  See the financial statements for the total value of the Fund
and the NAV as of the date of the statements.

The General Partner suspended trading on January 10, 2005, and all but one
affiliated limited partner has redeemed its Units.  Subsequently, Michael
Pacult resigned as the individual general partner, but remains the principal
of the Corporate General Partner.

The Partnership intends to file a new registration statement with new offering
terms and a new CTA and, upon effectiveness, offer registered Units to the
public.  The General Partner, in its sole discretion selects the CTA and the
amount of equity assigned to the CTAs, from time to time.

The trades for the Fund are selected and placed with the futures commission
merchant ("FCM"), i.e., clearing broker, for the account of the Fund by one or
more CTAs selected by the General Partner of the Fund.  Initially, the Fund
account was traded solely by Ansbacher Investment Management, Inc., then later
by both Ansbacher and Mangin Capital Management, Inc.  Effective November 1,
2003, the General Partner replaced the two CTAs with a single CTA, Fall River
Capital Management, Inc., which remained the sole trader throughout the year
2004, but was terminated January 10, 2005.  The books and records of the
trades placed by the CTA in the Fund's trading account are kept and are
available for inspection by the Partners at the office of the General Partner.
The Fund Partnership Agreement is included as Exhibit A to the Prospectus
delivered to the prospective investors and filed as part of the Registration
Statement.  The Partnership Agreement defines the terms of operation of the
Fund and is incorporated herein by reference.

None of the purchasers of Limited Partnership Units has a voice in the
management of the Partnership.  Reports of the Net Asset Value of the
Partnership are sent to all Limited Partners at the end of each month.

The independent FCM is selected by the General Partner to hold the Fund's
trading equity and place the trades as directed by the CTA pursuant to a power
of attorney and advisory agreement granted by the Fund.   The CTA agreements
are terminable at the will of the parties.  On October 12, 2011, the Fund
filed an application to register $20,000,000 in securities on Form S-1 with
the Securities and Exchange Commission at file number 333-177268. Upon
effectiveness and sale of the $1,000,000 minimum, the Fund will commence
trading via an independent commodity trading advisor and operate pursuant to
the business terms described in the prospectus contained in the S-1 filing.

The sale of Units is regulated by Securities Act of 1933 and the Commodity
Exchange Act.  The operation of the Fund is subject to regulation pursuant to
the Securities and Exchange Act of 1934 and the Commodity Exchange Act. The
U.S. Securities and Exchange Commission and the Securities Commissions and
securities acts of the several States where its Units are offered and sold
have jurisdiction over the operation of the Fund.  The National Futures
Association has jurisdiction over the operation of the General Partner and the
Commodity Trading Advisors.  This regulatory structure is not intended, nor
does it, protect investors from the risks inherent in the trading of futures
and options.

                                       2
<page>
Item 1A.  Risk Factors

The trading of futures, options on futures and other commodities related
investments is highly speculative and risky.  You should make an investment in
the Fund only after consulting with independent, qualified sources of
investment and tax advice and only if your financial condition will permit you
to bear the risk of a total loss of your investment. You should consider an
investment in the Units only as a long-term investment. Moreover, to evaluate
the risks of this investment properly, you must familiarize yourself with the
relevant terms and concepts relating to commodities trading and the regulation
of commodities trading, which are discussed in the Risk Factors section of the
Prospectus contained in the Registration Statement, which is incorporated
herein by reference.

You should carefully consider all the information we have included or
incorporated by reference in this Report and our subsequent periodic filings
with the SEC. In particular, you should carefully consider the risk factors
described above and read the risks and uncertainties as set forth in the
"Management's Discussion and Analysis of Financial Condition and Results of
Operations" Section of this Report.  Any of the heretofore mentioned risks and
uncertainties could materially adversely affect the Fund, its trading
activities, operating results, financial condition and Net Asset Value and
therefore could negatively impact the value of your investment. You should not
invest in the Units unless you can afford to lose all of your investment.

Item 1B.  Unresolved Staff Comments

The partnership is in the process of resolving staff comments related to the
filing of its S-1 registration statement.

Item 2.  Properties

Any FCM selected by the General Partner must be registered with the National
Futures Association pursuant to the Federal Commodity Exchange Act as a
commodity FCM.  The trading of futures, options on futures and other
commodities is highly speculative and the Fund has an unlimited risk of loss,
including the pledge of all of its assets, to the trades made on its behalf by
the CTAs in the commodity markets.  The Fund expects to maintain a percentage
of its assets in a Treasury Direct Account maintained with the United States
Department of the Treasury.  It also retains the right to invest in foreign
treasuries held with the respective issuing department of treasury and to
invest in cash management funds that invest in U.S. Treasuries and have high
liquidity.  Funds maintained with the US Department of Treasury and any cash
management funds are in the name of the Fund and not commingled with those of
any other entity.  The Fund expects to maintain a substantial portion of our
net assets in segregation with the FCM for trading by the trading advisor.
Approximately 0% to 3% of the previous month's net assets may be retained in
our bank accounts to pay expenses and redemptions.

Item 3.  Legal Proceedings

There have been no legal proceedings against the Fund, its General Partner,
the CTA, the FCM, the IB or any of their Affiliates, directors or officers,
except for the FCM, as follows:

Vision Financial Services LLC

On May 18, 2011, simultaneously with the issuance of a complaint by the NFA,
Vision Financial Markets LLC ("Vision") consented to a finding based on a one-
count complaint for failure to supervise guaranteed IBs in violation of NFA
Compliance Rule 2-9(a). The alleged activities occurred prior to 2009. Without
admitting or denying the findings in the Committee's Decision, Vision
consented to pay a fine of $500,000 and to retain an independent consultant to
review its supervisory procedures relating to guaranteed IBs. Vision undertook
to implement revised procedures for supervising GIBs within 6 months. Finally,
Vision consented to a restriction on guaranteeing new introducing brokers
until 2013, unless it petitions the NFA to lift the restriction earlier.

The FCM has acted only as clearing brokers for the Fund's futures accounts and
as such it has been paid commissions for executing and clearing trades. The
FCM has not passed upon the adequacy or accuracy of the Fund's prospectus or
this report and will not act in any supervisory capacity with respect to the
CPO or the CTA, as the case may be, nor participate in the management of the
CPO or of the Fund or of the CTA. Therefore, investors should not rely on the
FCM in deciding whether or not to participate in the Fund.

                                       3
<page>
The Fund is not aware of any threatened or potential claims or legal
proceedings to which the Fund is a party or to which any of its assets are
subject. The FCM has represented to the General Partner that that none of the
events reported above would interfere with its performance as a clearing
broker for the Fund's account.

Item 4.  Mine Safety Disclosures

N/A

PART II

Item 5.  Market for Registrant's Limited Partnership Units, Related
Stockholder Matters and Issuer Purchases of Equity Securities

The Fund desires to be taxed as a partnership and not as a corporation.  In
furtherance of this objective, the Limited Partnership Agreement, subject to
certain exceptions upon the death of a Limited Partner, requires a Limited
Partner to obtain the approval of the General Partner prior to the transfer of
any Units.  Accordingly, there is no trading market for the Fund Units and
none is likely to develop.  The Limited Partners must rely upon the right of
Redemption provided in the Limited Partnership Agreement to liquidate their
interest.

The Fund has fewer than 300 holders of its securities.  Limited Partners are
required to represent to the issuer that they are able to understand and
accept the risks of investment in a commodity pool for which no market will
develop and the right of redemption will be the sole expected method of
withdrawal of equity from the Fund.  The General Partner has sole discretion
in determining what distributions, if any, the Fund will make to the Limited
Partners. The Fund has not made any distributions as of the date hereof.   The
Fund has no securities authorized for issuance under equity compensation
plans.  See the Limited Partnership Agreement attached as Exhibit A to the
Registration Statement, incorporated herein by reference, for a complete
explanation of the right of redemption provided to Limited Partners.

Item 6.  Selected Financial Data

The Fund is not required to pay dividends or otherwise make distributions and
none are expected.  The Limited Partners must rely upon their right of
redemption to obtain their return of equity after consideration of profits, if
any, and losses from the Fund.  See the Registration Statement, incorporated
herein by reference, for a complete explanation of the allocation of profits
and losses to a Limited Partner's capital account.  Following is a summary of
certain financial information for the Registrant for the period from January
1, 2007 to December 31, 2011.

                                       4
<page>
<table>

					<c>		<c>		<c>		<c>		<c>
							  For the Years Ended December 31,
					2011		2010		2009		2008		2007
  Performance per unit (1)

  Net unit value, beginning of year	$(68,436.77)	$(56,783.27)	$(43,464.59)	$(30,563.04)	$(19,798.83)

  Expenses				(16,924.74)	(11,653.50)	(13,318.68)	(12,901.55)	(10,764.21)

  Net (decrease) for the year		(16,924.74)	(11,653.50)	(13,318.68)	(12,901.55)	(10,764.21)

  Net unit value, end of year		$(85,361.51)	$(68,436.77)	$(56,783.27)	$(43,464.59)	$(30,563.04)

  Net assets, end of year (000)		$(219)		$(176)		$(146)		$(112)		$(79)


  Total return				(24.73)%	(20.52)%	(30.64)%	(42.21)%	(45.35)%

  Number of units outstanding at the
    end of the year			2.57		2.57		2.57		2.57		2.57

  Supplemental Data:
  Ratio to average net assets
  Net investment (loss)			(24.73)%	(20.52)%	(30.64)%	(42.21)%	(45.35)%
  Expenses				(24.73)%	(20.52)%	(30.64)%	(42.21)%	(45.35)%
</table>

Total returns are calculated based on the change in value of a unit during the
period.  An individual partner's total returns and ratios may vary from the
above total returns and ratios based on the timing of additions and
redemptions.

(1) Expenses are calculated based on a single unit outstanding during the
period.


                                       5
<page>
The following summarized quarterly financial information presents the results
of operations for the quarterly periods during the years ended December 31,
2011 and 2010.

<table>

					<c>		<c>		<c>		<c>		<c>		<c>		<c>		<c>
								2011								2010

					1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		1st Qtr		2nd Qtr		3rd Qtr		4th Qtr

Total Investment Gain			0		0		0		0		0		0		0		0

Net Income (Loss)			(11,983)	(6,739)		(6,628)		(18,146)	(4,891)		(11,841)	(5,094)		(8,124)

Net Income (Loss) per limited
 partnership unit			(4,662.84)	(2,622.28)	(2,579.08)	(7,060.54)	(1,903.11)	(4,607.40)	(1,982.10)	(3,160.89)

Net Income (Loss) per general
 partnership unit (if any)		(4,662.84)	(2,622.28)	(2,579.08)	(7,060.54)	(1,903.11)	(4,607.40)	(1,982.10)	(3,160.89)

Net asset value per partnership unit
 at the end of period.			(73,099.61)	(75,721.89)	(78,300.97)	(85,361.51)	(58,686.38)	(63,293.77)	(65,275.88)	(68,436.77)
</table>

Item 7.  Management's Discussion and Analysis of Financial Condition and
Results of Operations.

Critical Accounting Policies and Estimates

The Fund records all investments at market value in its financial statements,
with changes in market value reported as a component of realized and change in
unrealized trading gain (loss) in the Statements of Operations. In certain
circumstances, estimates are involved in determining market value in the
absence of an active market closing price.

Capital Resources

The Fund will raise additional capital only through the sale of Units offered
pursuant to the continuing offering, and does not intend to raise any capital
through resale of Units once issued or borrowing. Due to the nature of the
Fund's business, it will make no capital expenditures and will have no capital
assets which are not operating capital or assets.

Liquidity

Most United States commodity exchanges limit fluctuations in commodity futures
contracts prices during a single day by regulations referred to as "daily
price fluctuation limits" or "daily limits". During a single trading day, no
trades may be executed at prices beyond the daily limit. Once the price of a
futures contract has reached the daily limit for that day, positions in that
contract can neither be taken nor liquidated. Commodity futures prices have
occasionally moved to the daily limit for several consecutive days with little
or no trading. Similar occurrences could prevent the Fund from promptly
liquidating unfavorable positions and subject the Fund to substantial losses
which could exceed the margin initially committed to such trades. In addition,
even if commodity futures prices have not moved the daily limit, the Fund may
not be able to execute futures trades at favorable prices, if little trading
in such contracts is taking place. Other than these limitations on liquidity,
which are inherent in the Fund's commodity futures trading operations, the
Fund's assets are expected to be highly liquid.

                                       6
<page>
The entire offering proceeds will be credited to the Fund's bank and brokerage
accounts to engage in trading activities and as reserves for that trading. The
Fund meets its margin requirements by depositing U.S. government securities or
cash or both with the futures broker and the over-the-counter counterparties.
In this way, substantially all (i.e., 97% or more) of the Fund's assets,
whether used as margin for trading purposes or as reserves for such trading,
can be invested in U.S. government securities and time deposits with U.S.
banks. Investors should note that maintenance of the Fund's assets in U.S.
government securities and banks does not reduce the risk of loss from trading
futures and options on futures contracts. The Fund receives all interest
earned on its assets. No other person shall receive any interest or other
economic benefits from the deposit of Fund assets.

Approximately 10% to 40% of the Fund's assets normally are committed as
required margin for futures contracts and held by the futures broker, although
the amount committed may vary significantly. Such assets are maintained in the
form of cash or U.S. Treasury bills in segregated accounts with the futures
broker pursuant to the Commodity Exchange Act and regulations thereunder.
Fund's assets may also normally be invested in cash equivalents, such as U.S.
Treasury bills, in a money market fund that only invests in US Treasurys, and
held by the futures broker.

The Fund's assets are not and will not be, directly or indirectly, commingled
with the property of any other person in violation of law or invested with or
loaned to the Fund, the General Partner or any affiliated entities.

Results of Operations

The initial start-up costs attendant to the sale of Units by use of a
Prospectus which has been filed with the Securities and Exchange Commission
are substantial.  The Limited Partnership Agreement grants solely to the
General Partner the right to select the CTA and to otherwise manage the
operation of the Fund.  See the Registration Statement, incorporated by
reference herein, for an explanation of the operation of the Fund.

The General Partner suspended trading on January 10, 2005, and all but one
limited partner who is affiliated with the General Partner has redeemed its
Units. Accordingly, the Fund was not operational subsequently.

The Fund is subject to ongoing offering and operating expenses; however, upon
the commencement of business, profits or losses will be primarily generated by
the commodity trading advisors by methods that are proprietary to them. For
financial reporting purposes, the Fund experienced (losses) of $(43,496)
[$(16,924.74) per Unit], $(29,950) [$(11,653.50) per Unit] and $(34,229)
[$(13,318.68) per Unit] for the three years ended December 31, 2011, 2010 and
2009, respectively. The variation in losses over the periods was primarily due
to variations in compliance costs, and the increase in 2011 was due to
offering expenses. These results are not to be construed as an expectation of
similar profits or losses in the future.

The Fund has not paid any commissions or earned any interest income since the
General Partner suspended trading on January 10, 2005. The Fund did not have
any additions or withdrawals in the prior three years.

Off-Balance Sheet Risk

The term "off-balance sheet risk" refers to an unrecorded potential liability
that, even though it does not appear on the balance sheet, may result in
future obligation or loss. The Fund trades in futures and options on futures
contracts and is therefore a party to financial instruments with elements of
off-balance sheet market and credit risk. In entering into these contracts
there exists a risk to the Fund, market risk, that such contracts may be
significantly influenced by market conditions, such as interest rate
volatility, resulting in such contracts being less valuable. If the markets
should move against all of the futures interests positions of the Fund at the
same time, and if the Fund's trading advisor was unable to offset futures
interests positions of the Fund, the Fund could lose all of its assets and the
Limited Partners would realize a 100% loss. The Fund, the General Partner and
the CTAs minimize market risk through real-time monitoring of open positions,
diversification of the portfolio and maintenance of a margin-to-equity ratio
that rarely exceeds 40%.

In addition to market risk, in entering into futures and options on futures
contracts there is a credit risk that a counterparty will not be able to meet
its obligations to the Fund. The counterparty for futures contracts traded in
the United States and on most foreign 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 non-performance by one of their members and, as
such, should significantly reduce this credit risk. In cases where the
clearinghouse is not backed by the clearing members, like some foreign
exchanges, it is normally backed by a consortium of banks or other financial
institutions.

                                       7
<page>
All positions of the Fund are valued each day on a mark-to-market basis. There
can be no assurance that any clearing member, clearinghouse or other
counterparty will be able to meet its obligations to the Fund.

Item 7A.  Quantitative and Qualitative Disclosures About Market Risk

The securities of the Fund are not traded and no market for the Fund
securities is expected to develop.  The Fund is engaged in the speculative
trading of futures and options on futures.  The risks are fully explained in
the Fund prospectus delivered to each prospective Limited Partner prior to
their investment.

Item 8.  Financial Statements and Supplementary Data.

The Fund financial statements as of December 31, 2011, were audited by Patke &
Associates, Ltd., 300 Village Green Drive Ste 210, Lincolnshire, IL 60069, and
are provided in this Report beginning on page F-1.  The supplementary
financial information specified by Item 302 of Regulation S-K is included in
Item 6. Selected Financial Data.

Item 9.  Changes in and Disagreements with Accountants on Accounting and
Financial Disclosure.

None.

Item 9A.  Controls and Procedures.

Disclosure Controls and Procedures

The Registrant has adopted procedures in connection with the operation of its
business including, but not limited to, the review of account statements sent
to the General Partner before the open of business each day that disclose the
positions held overnight in the Fund accounts, the margin to hold those
positions, and the amount of profit or loss on each position, and the net
balance of equity available in each account.  The Fund brokerage account
statements and financial books and records accounts are prepared by an
independent CPA Firm and then are reviewed each quarter and audited each year
by a different independent CPA firm.

The General Partner of the Fund, under the actions of its sole principal,
Michael Pacult, has evaluated the effectiveness of the design and operation of
its disclosure controls and procedures (as defined in the Securities Exchange
Act of 1934 Rules 13a-15(e) or 15d-15(e)) with respect to the Fund as of the
end of the period covered by this Report. Based on their evaluation, Mr.
Pacult has concluded that these disclosure controls and procedures are
effective.

Changes in Internal Control over Financial Reporting

Section 404 of the Sarbanes-Oxley Act of 2002 requires the General Partner to
evaluate annually the effectiveness of its internal controls over financial
reporting as of the end of each fiscal year, and to include a management
report assessing the effectiveness of its internal control over financial
reporting in all annual reports. There were no changes in the General
Partner's internal control over financial reporting during the quarter ended
December 31, 2011 that have materially affected, or are reasonably likely to
materially affect, internal control over financial reporting applicable to the
Fund.

Management's Annual Report on Internal Control over Financial Reporting

The General Partner is responsible for establishing and maintaining adequate
internal control over the Fund's financial reporting. Internal control over
financial reporting is defined in Rules 13a-15(f) and 15d-15(f) under the
Securities Exchange Act as a process designed by, or under the supervision of,
a company's principal executive and principal financial officers and effected
by a company's board of directors, management and other personnel to provide
reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with
generally accepted accounting principles. The General Partner's internal
control over financial reporting includes those policies and procedures that:

                                       8
<page>
*	pertain to the maintenance of records that, in reasonable detail,
accurately and fairly reflect the transactions and dispositions of the Fund's
assets;

*	provide reasonable assurance that transactions are recorded as necessary
to permit preparation of the Fund's financial statements in accordance with
generally accepted accounting principles, and that the Fund's receipts and
expenditures are being made only in accordance with authorizations of the
General Partner's management and directors; and

*	provide reasonable assurance regarding prevention or timely detection of
unauthorized acquisition, use or disposition of the Fund's assets that could
have a material effect on the Fund's financial statements.

Because of its inherent limitations, internal control over financial reporting
may not prevent or detect misstatements. Projections of any evaluation of
effectiveness to future periods are subject to the risk that controls may
become inadequate because of changes in conditions, or that the degree of
compliance with the policies or procedures may deteriorate.

The Fund securities are not publicly traded so that there can be no insider
trading or leaks of confidential information to the public.  All Fund money is
on deposit either with a bank or a futures commission merchant.  See
Subsequent Events in Item 1 of this Report.  There is an audit trail produced
by both.  A certified public accountant prepares the monthly financial
statements.  The Fund units are sold during the month at a net asset value to
be determined as of the close of business on the last day of trading each
month.  No information related to the value of the units during the month is
available to the Fund sales force or the prospects.  All quarterly financial
statements are reviewed by an independent certified public accountant who
audits the Fund financial statements at the end of each calendar year.  The
Fund maintains its subscription agreements and other records for six years.

The management of the General Partner assessed the effectiveness of its
internal control over financial reporting with respect to the Fund as of
December 31, 2011.  In making this assessment, management used the criteria
set forth by the Committee of Sponsoring Organizations of the Treadway
Commission (COSO) in Internal Control - Integrated Framework. Based on its
assessment, management has concluded that, as of December 31, 2011, the
General Partner's internal control over financial reporting with respect to
the Fund is effective based on those criteria.

Item 9B.  Other Information.

None

Part III

Item 10.  Directors and Executive Officers and Corporate Governance

The Fund is a Delaware Limited Partnership which acts through its corporate
General Partner.  Accordingly, the Registrant has no Directors or Executive
Officers.

The General Partner of the Registrant during the year 2011 was Belmont Capital
Management, Incorporated, a Delaware corporation.  The General Partner is
registered with the National Futures Association as a commodity pool operator
pursuant to the Commodity Exchange Act, and Mr. Michael Pacult, age 67, is the
sole shareholder, director, registered principal and executive officer of the
corporate General Partner.  The background and qualifications of Mr. Pacult
are disclosed in the Registration Statement, incorporated herein by reference.

There has never been a material administrative, civil or criminal action
brought against the Fund, the General Partner or any of its directors,
executive officers, promoters or control persons.

No Forms 3, 4, or 5 have been furnished to the Registrant since inception. To
the best of the Fund's knowledge, no such forms have been or are required to
be filed.

                                       9
<page>
Audit Committee Financial Expert

Mr. Pacult, in his capacity as the sole principal for the General Partner of
the Fund, has determined that he qualifies as an "audit committee financial
expert" in accordance with the applicable rules and regulations of the
Securities and Exchange Commission.  He is not independent of management.

Code of Ethics

The Fund General Partner is registered with the National Futures Association
as a Commodity Pool Operator and its President, Michael P. Pacult is
registered as its principal.  Both the Fund and the General Partner are
subject to Federal Commodity Exchange Act and audit for compliance and the
rules of good practice of the Commodity Futures Trading Commission and the
industry self regulatory organization, the National Futures Association.
Having said that, neither the Commodity Futures Trading Commission nor the
National Futures Association are responsible for the quality of the Fund
disclosures or its operation, those functions are exclusively the
responsibility of the Fund and its General Partner.

Item 11.  Executive Compensation.

Although there are no executives of the Fund, the corporate General Partner
and certain persons Affiliated with the General Partners are paid compensation
that the Fund has elected to disclose on this Report.  All compensation is
disclosed in the Registration Statement, which is incorporated herein by
reference.

Item 12.  Security Ownership of Certain Beneficial Owners and Management.

(a) The following Limited Partners owned more than five percent (5%) of the
total equity of the Fund on December 31, 2011:

Name		Percent Ownership

Shira Del Pacult	62.5%

(b)  As of December 31, 2011, the corporate General Partner owned 1.00 Unit of
Limited Partnership Interest, which constitutes the other 37.5% ownership.

(c)  The Limited Partnership Agreement governs the terms upon which control of
the Fund may change.  No change in ownership of the Units will, alone,
determine the location of control.  The Limited Partners must have 120 days
advance notice and the opportunity to redeem prior to any change in the
control from the General Partner to another general partner.  Control of the
management of the Partnership may never vest in one or more Limited Partners.

Item 13.  Certain Relationships and Related Transactions.

See Item 11, Executive Compensation and Item 12, Security Ownership of Certain
Beneficial Owners and Management. The General Partner has sole discretion over
the selection of trading advisors.  Belmont Capital Management, Inc., the
corporate General Partner, is paid a fixed commission for trades and,
therefore, the General Partner has a potential conflict in the selection of a
CTA that makes few trades rather than produces profits for the Fund.  This
conflict and others are fully disclosed in the Registration Statement, which
is incorporated herein by reference.

Item 14.  Principal Accountant Fees and Services.

Only fees to the Principal Accountant, or Auditor, and not fees for other
accounting, are required to be disclosed in this section.

(1)	Audit Fees

The fees and costs paid to Patke and Associates, Ltd. for the audit of the
Fund's annual financial statements, for review of financial statements
included in the Fund's Forms 10-Q and other services normally provided in
connection with regulatory filing or engagements (i.e., consents related to
SEC registration statements) for the years ended December 31, 2011 and 2010
were $11,500 and $11,320, respectively.

                                       10
<page>
(2)	Audit Related Fees

None

(3)	Tax Fees

The aggregate fees paid to Patke and Associates, Ltd. for tax compliance
services for the years ended December 31, 2011 and 2010 were $0 and $320,
respectively.

(4)	All Other Fees

None

(5)	The Board of Directors of Belmont Capital Management, Inc., General
Partner of the Fund, approved all of the services described above. The Board
of Directors has determined that the payments made to its independent
certified public accountants for these services are compatible with
maintaining such auditors' independence. The Board of Directors explicitly
pre-approves all audit and non-audit services and all engagement fees and
terms.

(6)	Close to 100% of the hours expended on the principal accountant's
engagement to audit the registrant's financial statements for the most recent
fiscal year were attributed to work performed by persons other than the
principal accountant's full-time permanent employees.  However, all work
performed was supervised by a full-time permanent employee.

Part IV

Item 15.  Exhibits and Financial Statement Schedules

(a)	The following documents are filed as part of this report:

1. All Financial Statements

The Financial Statements begin on page F-1 of this Report.

2. Financial Statement Schedules required to be filed by Item 8 on this form,
and by paragraph (b) below.

Not applicable, not required, or included in the Financial Statements.

3. List of those Exhibits required by Item 601 of Regulation S-K (S 229.601 of
this chapter) and by paragraph (b) below.

Incorporated by reference from the Fund's Registration Statement on Form S-1,
and all amendments at file No. 333-85755 previously filed with the Securities
and Exchange Commission.

31.1 Certification of CEO and CFO pursuant to Section 302

32.2 Certification of CEO and CFO pursuant to Section 906

(b)	Exhibits required by Item 601 of Regulation S-K (S 229.601 of this
chapter).

See response to 15(a)(3), above.

(c)	Financial statements required by Regulation S-X (17 CFR 210) which are
excluded from the annual report to shareholders by Rule 14a-3(b) including (1)
separate financial statements of subsidiaries not consolidated and fifty
percent or less owned persons; (2) separate financial statements of affiliates
whose securities are pledged as collateral; and (3) schedules.

None.

                                       11
<page>
                                  SIGNATURES

Pursuant to the requirements of Section 13 or 15 (d) of the Securities
Exchange Act of 1934, the Registrant has duly caused this Form 10-K for the
period ended December 31, 2011 to be signed on its behalf by the undersigned,
thereunto duly authorized.

Registrant:		Bromwell Financial Fund, Limited Partnership
			By Belmont Capital Management, Inc.
			Its General Partner

Date:  March 30, 2012	By:  /s/ Michael Pacult
			Mr. Michael P. Pacult
			Sole Director, Sole Shareholder
			President and Treasurer

                                       12
<page>
                 BROMWELL FINANCIAL FUND, LIMITED PARTNERSHIP
                       (A Delaware Limited Partnership)

                                 ANNUAL REPORT

                               December 31, 2011





                               GENERAL PARTNER:
                       Belmont Capital Management, Inc.
                           % Corporate Systems, Inc.
                             505 Brookfield Drive
                      Dover, Kent County, Delaware 19901

<Page>
                       Index to the Financial Statements


								Page

  Report of Independent Registered Public Accounting Firm	F-2

  Statements of Assets and Liabilities				F-3

  Statements of Operations					F-4

  Statements of Changes in Net Assets				F-5

  Statements of Cash Flows					F-6

  Notes to the Financial Statements			     F-7 - F-10

  Affirmation of the Commodity Pool Operator			F-11





                                      F-1
<page>
                           Patke & Associates, Ltd.
                         Certified Public Accountants
            Report of Independent Registered Public Accounting Firm



To the Partners of
Bromwell Financial Fund, Limited Partnership
Dover, Delaware


We have audited the accompanying statements of assets and liabilities of
Bromwell Financial Fund, Limited Partnership, as of December 31, 2011 and
2010, and the related statements of operations, changes in net assets and cash
flows for each of the three years in the period ended December 31, 2011.
These financial statements are the responsibility of the Partnership's
management.  Our responsibility is to express an opinion on these financial
statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company
Accounting Oversight Board (United States).  Those standards require that we
plan and perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement.  The Partnership is
not required to have, nor were we engaged to perform an audit of its internal
control over financial reporting.  Our audit included consideration of
internal control over financial reporting as a basis for designing audit
procedures that are appropriate in the circumstances, but not for the purpose
of expressing an opinion on the effectiveness of the Partnership's internal
control over financial reporting.  Accordingly, we do not express such an
opinion.  An audit includes, examining on a test basis, evidence supporting
the amounts and disclosures in the financial statements, assessing the
accounting principles used and significant estimates made by management, as
well as evaluating the overall financial statement presentation.  We believe
that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in
all material respects, the financial position of Bromwell Financial Fund,
Limited Partnership as of December 31, 2011 and 2010, and the results of its
operations, its changes in net assets and its cash flows for each of the three
years in the period ended December 31, 2011 in conformity with accounting
principles generally accepted in the United States of America.



/s/ Patke & Associates, Ltd.
Patke & Associates, Ltd.
Lincolnshire, Illinois
March 9, 2012

       300 Village Green Drive, Suite 210 * Lincolnshire, Illinois 60069
                  Phone: (847) 913-5400 * Fax: (847) 913-5435

                                      F-2
<page>
                 Bromwell Financial Fund, Limited Partnership
                       (A Delaware Limited Partnership)
                     Statements of Assets and Liabilities
                          December 31, 2011 and 2010


<table>

						<c>		<c>
  						2011		2010


Assets

  Cash						$508		$175
  Total assets					508		175

Liabilities

  Accrued expenses				30,863		29,684
  Due to related parties			189,024		146,374
  Total liabilities				219,887		176,058

Net assets					$(219,379)	$(175,883)


Analysis of net assets

  Limited partners				$(134,018)	$(107,446)
  General partner				(85,361)	(68,437)
  Net assets (equivalent to $(85,361.51)
   and $(68,436.77) per unit)			$(219,379)	$(175,883)


Partnership units outstanding

  Limited partners units outstanding		1.57		1.57
  General partner units outstanding		1.00		1.00
  Total partnership units outstanding		2.57		2.57
</table>

    The accompanying notes are an integral part of the financial statements

                                      F-3
<page>
                 Bromwell Financial Fund, Limited Partnership
                       (A Delaware Limited Partnership)
                           Statements of Operations
             For the Years Ended December 31, 2011, 2010 and 2009


<table>

					<c>		<c>		<c>
					2011		2010		2009

Investment income

  Interest income			$-		$-		$-

  Total investment income		-		-		-

Expenses
  Professional fees			37,093		28,491		32,904
  Other expenses			6,403		1,459		1,325
  Total expenses			43,496		29,950		34,229

  Net investment (loss)			(43,496)	(29,950)	(34,229)

  Net (decrease) in net assets
   resulting from operations		$(43,496)	$(29,950)	$(34,229)

Net (decrease) per unit
Limited partner	Limited partner unit	$(16,924.74)	$(11,653.50)	$(13,318.68)
General partner	General partner unit	$(16,924.74)	$(11,653.50)	$(13,318.68)
</table>

    The accompanying notes are an integral part of the financial statements

                                      F-4
<page>
                 Bromwell Financial Fund, Limited Partnership
                       (A Delaware Limited Partnership)
                      Statements of Changes in Net Assets
             For the Years Ended December 31, 2011, 2010 and 2009



<table>

							<c>		<c>		<c>		<c>		<c>		<c>
												Partners' Capital

								General				Limited				Total
							Units		Net Assets	Units		Net Assets	Units		Net Assets
Net assets at December 31, 2008				1.00		$(43,465)	1.57		$(68,239)	2.57		$(111,704)

(Decrease) in net assets from operations:
Net investment (loss)							(13,318)			(20,911)			(34,229)

Net (decrease) in net assets resulting from operations			(13,318)			(20,911)			(34,229)

Net assets at December 31, 2009				1.00		(56,783)	1.57		(89,150)	2.57		(145,933)

(Decrease) in net assets from operations:
Net investment (loss)							(11,654)			(18,296)			(29,950)

Net (decrease) in net assets resulting from operations			(11,654)			(18,296)			(29,950)

Net assets at December 31, 2010				1.00		(68,437)	1.57		(107,446)	2.57		(175,883)

(Decrease) in net assets from operations:
Net investment (loss)							(16,925)			(26,571)			(43,496)

Net (decrease) in net assets resulting from operations			(16,925)			(26,571)			(43,496)

Net assets at December 31, 2011				1.00		$(85,362)	1.57		$(134,017)	2.57		$(219,379)
</table>

    The accompanying notes are an integral part of the financial statements

                                      F-5
<page>
                 Bromwell Financial Fund, Limited Partnership
                       (A Delaware Limited Partnership)
                           Statements of Cash Flows
             For the Years Ended December 31, 2011, 2010 and 2009

<table>

								<c>		<c>		<c>
  								2011		2010		2009

Cash Flows from Operating Activities

Net (decrease) in net assets resulting from operations		$(43,496)	$(29,950)	$(34,229)

Adjustments to reconcile net (decrease) in net assets from
  operations to net cash (used in) operating activities:
  Increase (decrease) in accrued expenses			1,179		(1,738)		4,299
  Net cash (used in) operating activities			(42,317)	(31,688)	(29,930)


Cash Flows from Financing Activities

  Increase in due to related parties				42,650		31,700		29,600
  Net cash provided by financing activities			42,650		31,700		29,600

  Net increase (decrease) in cash				333		12		(330)

  Cash at the beginning of the year				175		163		493

  Cash at the end of the year					$508		$175		$163
</table>

    The accompanying notes are an integral part of the financial statements

                                      F-6
<page>
                 Bromwell Financial Fund, Limited Partnership
                       (A Delaware Limited Partnership)
                       Notes to the Financial Statements
                               December 31, 2011


1.	Nature of the Business

  Bromwell Financial Fund, Limited Partnership (the "Fund") was formed January
12, 1999 under the laws of the State of Delaware. The general partner and
commodity pool operator ("CPO") of the Fund is Belmont Capital Management,
Inc. ("General Partner").  The Fund was actively engaged in the speculative
trading of futures contracts in commodities from its commencement of business
in July 2000 to January 10, 2005, when it ceased trading. In the near future,
the Fund expects to file a post effective amendment to allow it to resume the
sale of its limited partnership interests on an issuer direct best efforts
basis.  Once the Fund sells a to be determined minimum in limited partnership
units, it will restart active trading of futures and options on futures
through Covenant Capital Management of Tennessee, LLC, a commodity trading
advisor ("CTA") selected by the General Partner.

  On October 12, 2011, the Fund filed an S-1 registration statement with the
Securities and Exchange Commission at registration number 333-177268 to
register $20,000,000 in Units of Limited Partnership Interests.  Upon
effectiveness and the subsequent sale of the $1,000,000 minimum offering
amount, it will re-commence business, and an independent trading advisor will
trade the equity allocated to it by the General Partner.

2.	Significant Accounting Policies


  Regulation - The Fund is a registrant with the Securities and Exchange
Commission ("SEC") pursuant to the Securities Act of 1933 (the "Act"). The
Fund is subject to the regulations of the SEC and the reporting requirements
of the Securities and Exchange Act of 1934. The Fund is also subject to the
regulations of the Commodities Futures Trading Commission ("CFTC"), an agency
of the U.S. government which regulates most aspects of the commodity futures
industry, the rules of the National Futures Association ("NFA") and the
requirements of various commodity exchanges where the Fund executes
transactions. Additionally, the Fund is subject to the requirements of futures
commission merchants and interbank market makers through which the Fund
trades.

  Reorganization Costs and Operating Expenses - For financial reporting
purposes in conformity with U.S. Generally Accepted Accounting Principles
("GAAP"), all accumulated reorganization costs since January 10, 2005 have
been expensed as incurred.  The Fund has incurred $221,018 in reorganization
costs from the cessation of trading on January 10, 2005 through December 31,
2011.  For all other purposes, including determining the Net Asset Value per
Unit for subscription and redemption purposes, the Fund will not reflect these
costs in capital until after the reimbursement is made on the resumption of
trading and, thereafter, all costs will be expensed as incurred.  The
resumption of business is contingent upon the sale of a to be determined
amount of partnership interests.  The Fund has agreed to reimburse the General
Partner, and other affiliated companies for all such expenses upon the sale of
the minimum and resumption of business.  All costs after the resumption of
business will be paid directly by the Fund.

  Consequently, as of December 31, 2011 and December 31, 2010, the Net Asset
Value and Net Asset Value per unit for financial reporting purposes and for
all other purposes are as follows:

<table>

							<c>		<c>		<c>		<c>
								Balance			   Per Unit Calculation
							December 31,	December 31,	December 31,	December 31,
							2011		2010		2011		2010

  Net Asset Value for financial reporting purposes	$(219,379)	$(175,883)	$(85,361.51)	$(68,436.77)
  Adjustment for reorganization costs and other
   operating expenses					221,018		177,522		85,999.25	69,074.51
  Net Asset Value for all other purposes		$1,639		$1,639		$637.74		$637.74

  Number of Units									2.57		2.57
</table>

  Registration Costs - Costs incurred for the initial filings with the SEC,
CFTC, NFA and the states where the offering was made were accumulated,
deferred and charged against the gross proceeds of offering at  the initial
closing as part of the offering expenses.  Costs to maintain the Fund's
registration of its securities and recurring registration costs incurred since
the cessation of trading on January 10, 2005 are treated as reorganization
expenses and, accordingly, are accounted for as described above under
"Reorganization Costs and Operating Expenses".

  Revenue Recognition - Futures contracts are recorded on the trade date and
are reflected in the balance sheet at the difference between the original
contract amount and the fair value on the last business day of the reporting
period.

  Fair value of futures contracts is based upon exchange or other applicable
market best available closing quotations.

  Interest income is recognized when it is earned.

                                      F-7
<page>
                 Bromwell Financial Fund, Limited Partnership
                       (A Delaware Limited Partnership)
                       Notes to the Financial Statements
                               December 31, 2011


2.	Significant Accounting Policies - Continued

  Use of Accounting Estimates - The preparation of financial statements in
conformity with GAAP requires management to make estimates and assumptions
that affect the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the financial statements and
reported amounts of revenues and expenses during the reporting period.  Actual
results could differ from these estimates.

  Income Taxes - The Fund is not required to provide a provision for income
taxes.  Income tax attributes that arise from its operations are passed
directly to the individual partners.  The Fund may be subject to state and
local taxes in jurisdictions in which it operates.

  Management has continued to evaluate the application of Financial Accounting
Standards Board Accounting Standards Codification ("ASC") 740, "Income Taxes",
to the Fund and has determined that ASC 740 does not have a material impact on
the Fund's financial statements.  The Fund files federal and state tax
returns.  The 2008 through 2011 tax years generally remain subject to
examination by the U.S. federal and most state tax authorities.

  Statement of Cash Flows - For purposes of the Statement of Cash Flows, the
Fund considers money market funds to be cash equivalents.  Net cash used in
operating activities includes no cash payments for interest or income taxes
for the years ended December 31, 2011, 2010 and 2009.

  Fund Reopening - The Fund was closed as of December 31, 2011.  The Fund will
reopen to new funds at a time to be set by the General Partner.

  Reclassifications - Prior year investment and other income ratios to average
net assets were reclassified to net investment income (loss) to average net
assets to conform to current year presentation.

  Fair Value Measurement and Disclosures - ASC 820 establishes a fair value
hierarchy which prioritizes the inputs to valuation techniques used to measure
fair value into three broad levels.  The fair value hierarchy gives the
highest priority to unadjusted quoted prices in active markets for identical
assets or liabilities (Level 1 measurements) and the lowest priority to
unobservable inputs (Level 3 measurements).

  Level 1 inputs are unadjusted quoted prices in active markets for identical
assets or liabilities that the Fund has the ability to access at the
measurement date.

  Level 2 inputs are inputs other than quoted prices included in Level 1 that
are observable for the asset or liability, either directly or indirectly.

  Level 3 inputs are unobservable inputs for an asset or liability, including
the Fund's own assumptions used in determining the fair value of investments.
Unobservable inputs shall be used to measure fair value to the extent that
observable inputs are not available, thereby allowing for situations in which
there is little, if any, market activity for the asset or liability at the
measurement date. As of and for the years ended December 31, 2011 and December
31, 2010, the Fund had no investments.

3.	General Partner Duties

  The responsibilities of the General Partner, in addition to directing the
trading and investment activity of the Fund, including suspending all trading,
includes executing and filing all necessary legal documents, statements and
certificates of the Fund, retaining independent public accountants to audit
the Fund, employing attorneys to represent the Fund, reviewing the brokerage
commission rates to determine reasonableness, maintaining the tax status of
the Fund as a limited partnership, maintaining a current list of the names,
addresses and numbers of units owned by each limited partner and taking such
other actions as deemed necessary or desirable to manage the business of the
Fund.

  If the daily net unit value of the Fund falls to less than 50% of  the
highest value earned through trading subsequent to the resumption of business,
then the General Partner will immediately suspend all trading, provide all
limited partners with notice of the reduction and give all limited partners
the opportunity, for fifteen days after such notice, to redeem partnership
interests. No trading will commence until after the lapse of the fifteen day
period.

                                      F-8
<page>
                 Bromwell Financial Fund, Limited Partnership
                       (A Delaware Limited Partnership)
                       Notes to the Financial Statements
                               December 31, 2011


4.	The Limited Partnership Agreement

  The Limited Partnership Agreement provides, among other things, the
following:

  Capital Account - A capital account shall be established for each partner.
The initial balance of each partner's capital account shall be the amount of
the initial contributions to the Fund.

  Monthly Allocations - Any increase or decrease in the Fund's net asset value
as of the end of a month shall be credited or charged to the capital account
of each Fund in the ratio that the balance of each account bears to the total
balance of all accounts.

  Any distribution from profits or partners' capital will be made solely at
the discretion of the General Partner.

  Federal Income Tax Allocations - As of the end of each fiscal year, the
Fund's realized capital gain or loss and ordinary income or loss shall be
allocated among the partners, after having given effect to the fees and
expenses of the Fund.

  Subscriptions - Investors must submit subscription agreements and funds at
least five business days prior to month end. Subscriptions must be accepted or
rejected by the General Partner within five business days. The investor also
has five business days to withdraw his subscription. Funds are deposited into
an interest bearing escrow account and will be transferred to the Fund's
account on the first business day of the month after the subscription is
accepted. Interest earned on the escrow funds will accrue to the account of
the investor.
  Redemptions - A limited partner may request any or all of his investment be
redeemed at the net asset value as of the end of a month. The written request
must be received by the General Partner no less than ten days prior to a month
end. Redemptions are generally paid within twenty days of the effective month
end. However, in various circumstances the General Partner may be unable to
comply with the request on a timely basis. There are no fees for redemption.

5.	Fees

  The Fund will be charged various fees upon the sale of the minimum and
resumption of business. These terms are currently being negotiated.

  The General Partner has reserved the right to change the fee structure at
its sole discretion.

6.	Related Party Transactions

  Due to related parties at December 31, 2011 and December 31, 2010 consisted
of amounts due to Ashley Capital Management, Inc., Futures Investment Company,
the introducing broker, Michael Pacult, president of Futures Investment
Company, and the General Partner. The balances result from operating and
reorganization costs paid by the related parties on behalf of the Fund and
cash advances.  These amounts bear no interest or due dates and are unsecured.
The balances are expected to be paid back upon the resumption of trading.  The
following balances were outstanding as of December 31, 2011 and December 31,
2010:

  					December 31,	December 31,
  					2011		2010

  Futures Investment Company		$157,450	$114,800
  General Partner			27,541		27,541
  Ashley Capital Management, Inc.	3,033		3,033
  Michael Pacult			1,000		1,000

  Total due to related parties		$189,024	$146,374

  ASC 460, "Guarantees", identifies certain disclosures to be made by a
guarantor in its financial statements about its obligations under certain
guarantees that it has issued. In the normal course of business, the Fund has
provided general indemnifications to the General Partner, its CTA and others
when they act, in good faith, in the best interests of the Fund. The Fund is
unable to develop an estimate for future payments  resulting from hypothetical
claims, but expects the risk of having to make any payments under these
indemnifications to be remote.

7.  Indemnifications

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

                                      F-9
<page>
                 Bromwell Financial Fund, Limited Partnership
                       (A Delaware Limited Partnership)
                       Notes to the Financial Statements
                               December 31, 2011


8.	Financial Highlights

<table>

					<c>		<c>		<c>		<c>		<c>
							  For the Years Ended December 31,
					2011		2010		2009		2008		2007
  Performance per unit (1)

  Net unit value, beginning of year	$(68,436.77)	$(56,783.27)	$(43,464.59)	$(30,563.04)	$(19,798.83)

  Expenses				(16,924.74)	(11,653.50)	(13,318.68)	(12,901.55)	(10,764.21)

  Net (decrease) for the year		(16,924.74)	(11,653.50)	(13,318.68)	(12,901.55)	(10,764.21)

  Net unit value, end of year		$(85,361.51)	$(68,436.77)	$(56,783.27)	$(43,464.59)	$(30,563.04)

  Net assets, end of year (000)		$(219)		$(176)		$(146)		$(112)		$(79)


  Total return				(24.73)%	(20.52)%	(30.64)%	(42.21)%	(45.35)%

  Number of units outstanding at the
    end of the year			2.57		2.57		2.57		2.57		2.57

  Supplemental Data:
  Ratio to average net assets
  Net investment (loss)			(24.73)%	(20.52)%	(30.64)%	(42.21)%	(45.35)%
  Expenses				(24.73)%	(20.52)%	(30.64)%	(42.21)%	(45.35)%
</table>

  Total returns are calculated based on the change in value of a unit during
the period.  An individual partner's total returns and ratios may vary from
the above total returns and ratios based on the timing of additions and
redemptions.

  (1) Expenses are calculated based on a single unit outstanding during the
period.


                                      F-10
<page>
                 Bromwell Financial Fund, Limited Partnership
                  Affirmation of the Commodity Pool Operator
             For the Years Ended December 31, 2011, 2010 and 2009


*****************************************************************************



To the best of the knowledge and belief of the undersigned, the information
contained in this report is accurate and complete.


  /s/ Michael Pacult
  Michael Pacult
  President, Belmont Capital Management, Inc.
  General Partner
  Bromwell Financial Fund, Limited Partnership

                                      F-11
<page>