SECURITIES AND EXCHANGE COMMISSION
                        Washington, D.C.  20549

                               FORM 10-Q

            Quarterly report pursuant to Section 12(b) or (g) of the
                   Securities Exchange Act of 1934

              For the quarterly period ended June 30, 2001

                    Commission File Number 0-17555

                       EVEREST FUTURES FUND, L.P.
          (Exact name of registrant as specified in its charter)


        Iowa                                                 42-1318186
        State or other jurisdiction of               (I.R.S. Employer
        incorporation or organization)               Identification No.)

        2280 West Tyler Street, Suite 105, Fairfield, Iowa             52556
        (Address of principal executive offices)                    (Zip
Code)

        Registrant's telephone number, including area code:   (641) 472-5500

                            Not Applicable
         (Former name, former address and former fiscal year, if changed
          since last report.)

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






                            EVEREST FUTURES FUND, L.P.

                          NOTES TO FINANCIAL STATEMENTS

                                JUNE 30, 2001


(1)  GENERAL INFORMATION AND SUMMARY

Everest Futures Fund, L.P. (the "Partnership") is a limited partnership
organized on June 20, 1988 under the Iowa Uniform Limited Partnership Act.
The business of the Partnership is the speculative trading of commodity
futures contracts and other commodity interests, including forward contracts
on foreign currencies ("Commodity Interests") either directly or through
investing in other, including subsidiary, partnerships, funds or other
limited liability entities.  The Partnership commenced its trading operations
on February 1, 1989 and its general partner is Everest Asset Management, Inc.
(the "General Partner") a Delaware corporation organized in December 1987.

The Partnership was initially organized on June 20, 1988 under the name
Everest Energy Futures Fund, L.P. and its initial business was the
speculative trading of Commodity Interests, with a particular emphasis on the
trading of energy-related commodity interests.  However, effective September
12, 1991, the Partnership changed its name to "Everest Futures Fund, L.P."
and at the same time eliminated its energy concentration trading policy.  The
Partnership thereafter has traded futures contracts and options on futures
contracts on a diversified portfolio of financial instruments and precious
metals and trades forward contracts on currencies.

The public offering of the Partnership's units of limited partnership
interest ("Units") commenced on or about December 6, 1988.  On February 1,
1989, the initial offering period for the Partnership was terminated, by
which time the Net Asset Value of the Partnership was $2,140,315.74.
Beginning February 2, 1989, an extended offering period commenced which
terminated on July 31, 1989, by which time a total of 5,065.681 Units of
Limited Partnership Interest were sold.  Effective May 1995 the Partnership
ceased to report as a public offering.  On July 1, 1995 the Partnership
recommenced the offering of its Units as a Regulation D, Rule 506 private
placement, which continues to the present with a total of $74,609,407 for
42,474.16 Units sold July 1, 1995 through June 30, 2001.

During its operation, the Partnership has had various advisors.  In December
1990, John W. Henry & Company, Inc. (JWH) began trading for the Partnership
as one of the Partnership's trading advisors.  In May 1994, JWH became the
sole advisor to the Partnership.  In March 1996, the Partnership transferred
all of its assets to, and became the sole limited partner of, Everest Futures
Fund II, L.P. (Everest II) and JWH began trading for Everest II.  In July
2000, the Partnership redeemed approximately 50% of its assets from Everest
II and allocated them to Trilogy's Barclay Futures Index Program.  The
Partnership instructed Trilogy to trade its account using twice the leverage
of Trilogy's unleveraged portfolio to attempt to achieve a return greater
than the return of the Index before fees and expenses.  Effective as of the
close of business August 31, 2000, the Partnership liquidated the balance of
its investment in Everest II and opened a trading account directly with JWH.
JWH used its Financial and Metals Portfolio while trading for Everest II and
the Partnership through June 30, 2001.  Beginning July 1, 2001, JWH will
employ its Strategic Allocation Program in trading for the Partnership.
Trilogy Capital Management, LLC was terminated as trading advisor for the
Partnership June 30, 2001.

The Partnership clears all of its futures and options on futures trades
through Cargill Investor Services, Inc. (CIS), its clearing broker, and all
of its cash trading through CIS Financial Services, Inc. (CISFS), an
affiliate of CIS.

On September 13, 1996 the Securities and Exchange Commission accepted for
filing a Form 10 -- Registration of Securities for the Partnership.  Public
reporting of Units of the Partnership sold as a private placement commenced
at that time and has continued to the present.


(2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying financial statements are prepared on a combined basis and
include the accounts of Everest Futures Fund, L.P. and Everest Futures Fund
II, L.P.  All significant intercompany transactions and balances have been
eliminated in the accompanying combined financial statements.  Effective
September 11, 2000, Everest Futures Fund II, L. P. was dissolved.

Cash Equivalents

Cash equivalents represent short-term highly liquid investments with
remaining maturities of 60 days or less and include money market accounts,
securities purchased under agreements to resell, commercial paper, and U.S.
Government and agency obligations with variable rate and demand features that
qualify them as cash equivalents. These cash equivalents, with the exception
of securities purchased under agreement to resell, are stated at amortized
cost, which approximates fair value. Securities purchased under agreements to
resell, with overnight maturity, are collateralized by U.S. Government and
agency obligations, and are carried at the amounts at which the securities
will subsequently be resold plus accrued interest. For purposes of the
statements of cash flows, cash and cash equivalents includes cash and cash
equivalents and cash on deposit with Brokers in the equity in commodity
futures trading accounts.

Fair Value of Financial Instruments

The financial instruments held by the Company are reported in the statement
of financial condition at market or fair value, or at carrying amounts which
approximate fair value, because of their highly liquid nature and short-term
maturity.

Revenue Recognition

Commodity futures contracts, forward contracts, physical commodities, and
related options are recorded on the trade date. All such transactions are
recorded on the identified cost basis and marked to market daily. Unrealized
gains and losses on open contracts reflected in the statements of financial
condition represent the difference between original contract amount and
market value (as determined by exchange settlement prices for futures
contracts and related options and cash dealer prices at a predetermined time
for forward contracts, physical commodities, and their related options) as of
the last business day of the year or as of the last date of the financial
statements.

Foreign Currency Translation

Assets and liabilities denominated in foreign currencies are translated at
the prevailing exchange rates as of the valuation date.  Gains and losses on
investment activity are translated at the prevailing exchange rate on the
date of each respective transaction while year-end balances are translated at
the year-end currency rates.

Income Taxes

Income taxes are not provided for by the Partnership because taxable income
of the Partnership is includable in the income tax returns of the partners.

Use of Estimates

The preparation of financial statements in conformity with generally accepted
accounting principles 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
the reported amounts of increase and decrease in net assets from operations
during the period.  Actual results could differ from those estimates.



(3)    THE LIMITED PARTNERSHIP AGREEMENT

The Limited Partners and General Partner share in the profits and losses of
the Partnership in proportion to the number of Units or Unit equivalents held
by each.  However, no Limited Partner is liable for obligations of the
Partnership in excess of his or her capital contribution and profits, if any,
and such other amounts as he may be liable for pursuant to the Iowa Uniform
Limited Partnership Act.  Distributions of profits are made solely at the
discretion of the General Partner.

Responsibility for managing the Partnership is vested solely in the General
Partner; however, the General Partner has delegated complete trading
authority to an unrelated party (note 4).

The Partnership bears all expenses incurred in connection with its trading
activities, including commodity brokerage commissions and fees payable to the
trading advisor, as well as legal, accounting, auditing, printing, mailing
and extraordinary expenses.

Limited Partners may cause any or all of their Units to be redeemed as of the
end of any month at net asset value on fifteen days' prior written notice.
The Partnership will be dissolved at December 31, 2020, or upon the
occurrence of certain events, as specified in the Limited Partnership
Agreement.




(4)  OTHER AGREEMENTS

John W. Henry & Company, Inc. was the Partnership's sole trading advisor from
May 1, 1994 through July 31, 2000.  Effective August 1, 2000 through June 30,
2001, approximately 50% of the Partnership's assets were allocated to Trilogy
Capital Management, LLC's Barclay Futures Index Program.  On June 30, 2001,
Trilogy was terminated as trading advisor.  JWH's trading allocation was
increased to $40 million for its Strategic Allocation Program.

JWH receives a monthly management fee equal to 0.167 (2% annually) (4% prior
to  October 1, 2000) of the Partnership's month-end allocated assets, as
defined, and a quarterly incentive fee of 20% (15% April 1, 1995 through
October 1, 2000) of the Partnership's trading profits allocable to its
trading exclusive of interest income on allocated assets, as defined.  The
incentive fee is retained by JWH even though trading losses may occur in
subsequent quarters; however, no further incentive fees are payable until any
such trading losses (other than losses attributable to redeemed units and
losses attributable to assets reallocated to another advisor) are recouped by
the Partnership.

Trilogy receives a monthly management fee of 0.0375% (approximately 0.45%
annually) of the Partnership's allocated assets (0.45% annually.)  Since the
Partnership has directed Trilogy to trade its account at 2:1 leverage, the
management fee represents 0.90% of the actual cash in the Trilogy account.

The Clearing Broker charges the Trading Partnership monthly brokerage
commissions equal to 0.50% (1.0833% prior to April 1, 1995) of the Trading
Partnership's beginning-of-month net asset value, as defined.  Effective
November 1, 1995, the General Partner receives a management fee from the
Clearing Broker of approximately 83% of the brokerage commission charged by
the Clearing Broker.  Prior to November 1, 1995, no management fee was
received by the General Partner.

A portion of assets are deposited with a commercial bank and invested under
the direction of Horizon Cash Management, Inc. ("Horizon").  Horizon will
receive a monthly cash management fee equal to 1/12 of .25% (.25% annually)
of the average daily assets under management if the accrued monthly interest
income earned on the Partnership's assets managed by Horizon exceeds the 91-
day U.S. Treasury bill rate.


(5)    FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK

The Partnership was formed to speculatively trade commodity interests.  The
Partnership's commodity interest transactions and related cash balances are
on deposit with the Clearing Broker or CIS Financial Services, Inc. ("CISFS"
or "Forward Currency Broker" and collectively, the "Brokers") at all times.
In the event that volatility of trading of other customers of the Brokers
impaired the ability of the Brokers to satisfy the obligations to the
Partnership, the Partnership would be exposed to off-balance sheet risk.
Such risk is defined in Statement of Financial Accounting Standards No. 105
(SFAS 105) as a credit risk.  To mitigate this risk, the Clearing Broker,
pursuant to the mandates of the Commodity Exchange Act, is required to
maintain funds deposited by customers, relating to futures contracts in
regulated commodities, in separate bank accounts which are designated as
segregated customers' accounts.  In addition, the Clearing Broker has set
aside funds deposited by customers relating to foreign futures and options in
separate bank accounts which are designated as customer secured accounts.
Lastly, the Clearing Broker is subject to the Securities and Exchange
Commission's Uniform Net Capital Rule which requires the maintenance of
minimum net capital at least equal to 4% of the funds required to be
segregated pursuant to the Commodity Exchange Act.  The Clearing Broker and
Forward Currency Broker both have controls in place to make certain that all
customers maintain adequate margin deposits for the positions which they
maintain at each Broker.  Such procedures should protect the Partnership from
the off-balance sheet risk as mentioned earlier.  Neither the Clearing Broker
or the Forward Currency Broker engage in proprietary trading and thus have no
direct market exposure.

The counterparty of the Partnership for futures contracts traded in the
United States and most non-U.S. exchanges on which the fund trades is the
Clearing House associated with the exchange.  In general, Clearing Houses are
backed by the membership and will act in the event of nonperformance by one
of its members or one of the members' customers and as such should
significantly reduce this credit risk.  In the cases where the Partnership
trades on exchanges on which the Clearing House is not backed by the
membership, the sole recourse of the Partnership for nonperformance will be
the Clearing House.  The Forward Currency Broker is the counterparty for the
Partnership's forward transactions.  CISFS policies require that they execute
transactions only with top rated financial institutions with assets in excess
of $100,000,000.

The Partnership holds futures and futures options positions on the various
exchanges throughout the world and forward positions with CISFS which
transacts with various top rated banks throughout the world.  As defined by
SFAS 105, futures and foreign currency contracts are classified as financial
instruments.  SFAS 105 requires that the Partnership disclose the market risk
of loss from all of its financial instruments.  Market risk is defined as the
possibility that future changes in market prices may make a financial
instrument less valuable or more onerous.  If the markets should move against
all of the futures positions held by the Partnership at the same time, and if
the markets moved such that the trading advisor was unable to offset the
futures positions of the Partnership, the Partnership could lose all of its
assets and the partners would realize a 100% loss.  The Partnership has a
contract with one trading advisor who makes the trading decisions on behalf
of the Partnership.  That trading advisor trades a program which is
diversified among the various futures contracts in the financials and metals
group on exchanges both in the U.S. and outside the U.S.  Such
diversification should greatly reduce this market risk.

The following chart discloses the dollar amount of the unrealized gain or
loss on open contracts related to Commodity Interests for the Partnership as
of
June 30, 2001:

COMMODITY GROUP					UNREALIZED GAIN/(LOSS)

FOREIGN CURRENCIES				          146,884
STOCK INDICES					          (67,501)
METALS						           (7,368)
INTEREST RATE INSTRUMENTS			          179,555
ENERGIES                                            (54,094)
AGRICULTURAL                                         43,298
								____________
TOTAL		     				                240,774

The range of maturity dates of these exchange traded open contracts is July
of 2001 to June of 2002.  The average open trade equity for the period of
April 1, 2001 to June 30, 2001 was $1,308,750.

The margin requirement at June 30, 2001 was $5,074,192.  To meet this
requirement, the Partnership had on deposit with the Clearing Broker
$1,089,341                         in segregated funds, $950,661 in secured
funds and $2,424,789 in non-regulated funds.



(6) FINANCIAL STATEMENT PREPARATION

The interim financial statements are unaudited but reflect all adjustments
that are, in the opinion of management, necessary for a fair statement of the
results for the interim periods presented.  These adjustments consist
primarily of normal recurring accruals.  These interim financial statements
should be read in conjunction with the audited financial statements of the
Partnership for the year ended December 31, 2000, as filed with the
Securities and Exchange Commission on March 31, 2001, as part of its Annual
Report on Form 10-K.

The results of operations for interim periods are not necessarily indicative
of the operating results to be expected for the fiscal year.



Item 2.    Management's Discussion and Analysis of Financial
Condition and Results of Operation

Fiscal Quarter ended June 30, 2001


The Partnership recorded a loss of $3,358,859 or $128.90 per Unit for the
second quarter of 2001. This compares to a loss of $4,221,518 or $151.95 per
Unit for the second quarter of 2000.

The Partnership continued to employ two different trading advisors for the
second quarter 2001.  The Fund had a loss of 7.31% in April as both advisors
suffered losses.  The JWH firm had reversals of trends that had created
profits in the first quarter, mostly in currencies and interest rates.  The
Barclay Futures Index Program (BFIP) gave back most of its gains from March
with losses in six out of seven sectors traded. The Partnership recorded a
loss of $3,394,496 or $130.21 per unit in April.

May was a positive month for the Fund (+1.51%), with both JWH and the BFIP
showing profits.  On the JWH side, currencies led the way with the dollar
showing strength against the Euro and Swiss franc.  Profits were also seen in
the British pound.  Interest rate positions were slightly negative for JWH,
as were overseas stock indexes and metals.  The BFIP had gains in 5 out of 7
sectors traded.  They were, in this order, softs, energies, grains,
financials and currencies.  The two losing sectors were metals and meats. The
Partnership recorded a gain of $641,062 or $24.92 per unit in May.

June saw a loss of 1.41% for the Fund.  The JWH programs were -4.29% coming
from losses in interest rate and currency sectors.  However, the JWH losses
were somewhat offset by the BFIP gain of 1.92% coming in six of their seven
sectors traded.  The largest gain for BFIP came in softs, following by metals
and energies. The Partnership recorded a loss of $605,424 or $23.61 per Unit
in June.

During the quarter, no additional Units were sold.  Investors redeemed a
total of 553.01 Units during the quarter.  At the end of the quarter there
were 25,516.98 Units outstanding (including 198.49 Units owned by the General
Partner).

During the fiscal quarter ended June 30, 2001, the Partnership had no
material credit exposure to a counter-party which is a foreign commodities
exchange or to any counter-party dealing in over the counter contracts which
was material.


Fiscal Quarter ended June 30, 2000


The Partnership recorded a loss of $4,221,518 or $151.95 per Unit for the
second quarter of 2000. This compares to a gain of $6,901,733 or $281.62 per
Unit for the second quarter of 1999.

At June 30, 2000, John W. Henry & Company, Inc. (JWH) was managing 100% of
the Partnership's assets using its Financial and Metals Portfolio. Effective
in the near future, a portion of the Partnership's assets will be re-
allocated from John W. Henry Company's Financial and Metals Portfolio to
Trilogy Capital Management. Exact allocations will be reported in the 3rd
quarter report.

In April, volatility in stocks led to a stronger U.S. dollar versus Euro and
profits for the Partnership. Despite an interest rate increase by European
central banks, the dollar reached an all time high versus the Euro.
Additional profits were accrued in long dollar positions against the British,
Swiss, and Australian currencies. Stock index trading suffered, especially in
Japan.  Despite the metals being up slightly, trading in non-financial
markets was down. The Partnership recorded a gain of $739,206 or $25.36 per
unit in April.

In May, mixed inflationary signals set the scene for two major trend
reversals. The U.S. interest rate market had a volatile change of direction
as rates headed lower and the Euro abruptly reversed its long term down trend
versus the U.S. dollar. After having been profitable for the majority of May,
the Trust closed lower when both trends reversed.  Trading in U.S. bonds was
down sharply, as was Euro denominated interest rate trading. After hitting
all-time lows against the dollar in April, the Euro appreciated and profits
accumulated in April by the Partnership were given back. Short positions in
the Nikkei made the stock index sector the only positive performing financial
area. Trading in metals was flat. The Partnership recorded a loss of
$1,053,813 or $37.30 per unit in May.

In June, uncertainty regarding an economic slowdown in the U.S. and an
interest rate rise in Europe provided a conflicting climate for trading.
These events created problems in the currency sector, which was the worst
performing area in June. The concentration of trading losses occurred in the
Euro. The Partnership's positions in interest rates, metals and stock indices
were unprofitable as well. The Partnership recorded a loss of $3,906,010 or
$140.01 per Unit in June.

During the quarter, additional Units sold consisted of 6.34 limited
partnership units; and 0 general partnership units.  Additional Units sold
during the quarter represented a total of $10,000.  Investors redeemed a
total of 1,496.46 Units during the quarter.  At the end of the quarter there
were 27,657.95 Units outstanding (including 198.49 Units owned by the General
Partner).

During the fiscal quarter ended June 30, 2000, the Partnership had no
material credit exposure to a counter-party which is a foreign commodities
exchange or to any counter-party dealing in over the counter contracts which
was material.



Fiscal Quarter ended March 31, 2001


The Partnership recorded a gain of $4,275,321 or $163.15 per Unit for the
first quarter of 2001. This compares to a loss of $5,502,945 or $200.52 per
Unit for the first quarter of 2000.

The Partnership continued to employ two different trading strategies for the
first quarter 2001.  The Fund was -1.08% in January.  The John W. Henry &
Company Financial and Metals Portfolio (JWH) was profitable for the month due
to interest rate positions.  A significant portion of the positive returns
occurred during the last days of the month surrounding the Fed cut in rates
on January 21st.  In spite of the unusual action of two 50 basis point rate
cuts by the Fed in a single month, bond prices actually declined by just over
2 points for January.  All the remaining sections traded, currencies, non-US
stock indices and metals, incurred losses.  The Barclay Futures Index Program
(BFIP) had an allocation of approximately 50% of the Fund's assets for the
first quarter 2001.  In January the Index had a decline for the Fund of
6.03%.  The largest losses came in the energies and grains and overall six of
the seven sub-indexes (or sectors) were negative.  The only exception was
profits in softs, especially sugar.  All in all, the Partnership posted a
loss of $455,012 or $17.43 per Unit in January.

The Fund was +0.78% in February.  The JWH allocation was again positive with
gains in short term interest rates.  The short term rates reacted to central
bank easing and the massive rally in the Japanese government Bond as the
Japanese economy showed signs of sputtering, realized gains.  After
eliminating their zero interest rate policy last August because of the belief
that a recovery was around the corner, the Bank of Japan is again following a
monetary policy of easing as rates were brought down 15 basis points.  The
Japanese stock market reacted and the Nikkei stock index hit a 15 year low
during February.  Currencies suffered losses for the month as they were
affected by a weakening in the euro, which offset some of the earlier gains
from the beginning of the year.  Late in the month, the euro tumbled to two-
month lows against the dollar in the wake of Turkey's lira currency float.
Market concerns about European bank exposure to Turkish assets helped push
the euro, already trending lower during the month, to fresh troughs.  Metals
were slightly unprofitable for the month.  The BFIP allocation of the Fund
lost 1.35%.  The passive index had losses in metals and currencies and
profits in meats, softs, and energies.  Overall, the Partnership posted a
gain of $318,381 or $12.51 per Unit in February.

The Fund was +10.42% in March.  The JWH program was +12.88% with all four
sectors being profitable.  Currencies led the way due to continued weakness
in the Japanese yen, although the other currencies were also profitable.
Declining interest rates also helped for the month, led by the Euro Bund and
the Japanese government bond.  Many attributed the strength in bond prices to
be the result of the "flight to safety" due to continued weakness in the
equity markets.  Stock index trading was mixed and there was a small gain in
metals.  The BFIP gained back its losses from January and February with a
+7.49% result in March.  The gains came in the softs, metals, grains,
currencies and energies.  Smaller losses came in meats and financials.
Overall, the Partnership posted a gain of $4,411,952 or $168.07 per Unit in
March.

During the quarter, additional Units sold consisted of 1026.49 limited
partnership units; there were no general partnership units sold during the
quarter.  Additional Units sold during the quarter represented a total of
$1,656,356.  Investors redeemed a total of 1,060.18 Units during the quarter.
At the end of the quarter there were 26,069.99 Units outstanding (including
198.49 Units owned by the General Partner).

During the fiscal quarter ended March 31, 2000, the Partnership had no credit
exposure to a counterparty which is a foreign commodities exchange or to any
counterparty dealing in over the counter contracts which was material.



Fiscal Quarter ended March 31, 2000


The Partnership recorded a gain of $4,275,321 or $163.15 per Unit for the
first quarter of 2001. This compares to a loss of $5,502,945 or $200.52 per
Unit for the first quarter of 2000.

The Partnership continued to employ two different trading strategies for the
first quarter 2001.  The Fund was -1.08% in January.  The John W. Henry &
Company Financial and Metals Portfolio (JWH) was profitable for the month due
to interest rate positions.  A significant portion of the positive returns
occurred during the last days of the month surrounding the Fed cut in rates
on January 21st.  In spite of the unusual action of two 50 basis point rate
cuts by the Fed in a single month, bond prices actually declined by just over
2 points for January.  All the remaining sections traded, currencies, non-US
stock indices and metals, incurred losses.  The Barclay Futures Index Program
(BFIP) had an allocation of approximately 50% of the Fund's assets for the
first quarter 2001.  In January the Index had a decline for the Fund of
6.03%.  The largest losses came in the energies and grains and overall six of
the seven sub-indexes (or sectors) were negative.  The only exception was
profits in softs, especially sugar.  All in all, the Partnership posted a
loss of $455,012 or $17.43 per Unit in January.

The Fund was +0.78% in February.  The JWH allocation was again positive with
gains in short term interest rates.  The short term rates reacted to central
bank easing and the massive rally in the Japanese government Bond as the
Japanese economy showed signs of sputtering, realized gains.  After
eliminating their zero interest rate policy last August because of the belief
that a recovery was around the corner, the Bank of Japan is again following a
monetary policy of easing as rates were brought down 15 basis points.  The
Japanese stock market reacted and the Nikkei stock index hit a 15 year low
during February.  Currencies suffered losses for the month as they were
affected by a weakening in the euro, which offset some of the earlier gains
from the beginning of the year.  Late in the month, the euro tumbled to two-
month lows against the dollar in the wake of Turkey's lira currency float.
Market concerns about European bank exposure to Turkish assets helped push
the euro, already trending lower during the month, to fresh troughs.  Metals
were slightly unprofitable for the month.  The BFIP allocation of the Fund
lost 1.35%.  The passive index had losses in metals and currencies and
profits in meats, softs, and energies.  Overall, the Partnership posted a
gain of $318,381 or $12.51 per Unit in February.

The Fund was +10.42% in March.  The JWH program was +12.88% with all four
sectors being profitable.  Currencies led the way due to continued weakness
in the Japanese yen, although the other currencies were also profitable.
Declining interest rates also helped for the month, led by the Euro Bund and
the Japanese government bond.  Many attributed the strength in bond prices to
be the result of the "flight to safety" due to continued weakness in the
equity markets.  Stock index trading was mixed and there was a small gain in
metals.  The BFIP gained back its losses from January and February with a
+7.49% result in March.  The gains came in the softs, metals, grains,
currencies and energies.  Smaller losses came in meats and financials.
Overall, the Partnership posted a gain of $4,411,952 or $168.07 per Unit in
March.

During the quarter, additional Units sold consisted of 1026.49 limited
partnership units; there were no general partnership units sold during the
quarter.  Additional Units sold during the quarter represented a total of
$1,656,356.  Investors redeemed a total of 1,060.18 Units during the quarter.
At the end of the quarter there were 26,069.99 Units outstanding (including
198.49 Units owned by the General Partner).

During the fiscal quarter ended March 31, 2000, the Partnership had no credit
exposure to a counterparty which is a foreign commodities exchange or to any
counterparty dealing in over the counter contracts which was material.






	Item 3.        Quantitative and Qualitative Disclosures
				About Market Risk

There has been no material change with respect to market risk since the
"Quantitative and Qualitative Disclosures About Market Risk" was made in the
Form 10K of the Partnership dated December 31, 2000.




                    Part II.  OTHER INFORMATION


Item 1.	Legal Proceedings

           	The Partnership and its affiliates are from time to time parties
to various legal actions arising in the normal course of business.  The
General Partner believes that there is no proceedings threatened or pending
against the Partnership or any of its affiliates which, if determined
adversely, would have a material adverse effect on the financial condition or
results of operations of the Partnership.

Item 2.	Changes in Securities

                  	None

Item 3.	Defaults Upon Senior Securities

        	            None

Item 4.	Submission of Matters to a Vote of Security Holders

                  	None

Item 5.        	Other Information

                  	None

Item 6.        	Exhibits and Reports on Form 8-K

             	a)  	Exhibits

                  	Exhibit-27

               	b)	Reports on Form 8-K

				None



                            SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned and thereunto duly authorized.



                            		EVEREST FUTURES FUND, L.P.

Date: August 13, 2001			By:	Everest Asset Management, Inc.,
                                          its General Partner

						By:	____________________________
							    Peter Lamoureux
							    President

<TABLE>
Part I.  Financial Information



Item 1.  Financial Statements

"Following are Financial Statements for the fiscal quarter ending June 30, 2001"




	Fiscal Quarter		Year to Date		 Fiscal Year
	Fiscal Quarter		Year to Date
	Ended 6/30/01		to 6/30/01		Ended 12/31/00		Ended
6/30/00		to 6/30/00

<S>	<C>		<C>		<C>		<C>		<C>
Statement of
Financial Condition	X				X

Statement of
Operations	X		X				X		X

Statement of Changes
in Partners' Capital			X

Statement of
Cash Flows			X						X

Notes to Financial
Statements	X


"EVEREST FUTURES FUND, LP"
                               COMBINED STATEMENTS OF FINANCIAL CONDITION

UNAUDITED

	"Jun 30, 2001"		"Dec 31, 2000"

<S>	<C>		<C>
ASSETS
Cash and cash equivalents	"34,743,175 "		"19,699,842 "

Equity in commodity trading accounts:

   Amount Due from broker	"4,464,791 "		"3,679,722 "

   Net unrealized trading gains on open contracts	"240,775 "
	"5,019,780 "
"Investments, at fair value"	"3,210,163 "		"14,340,365 "

Tax receivable	0 		"36,445 "
Interest receivable	"62,002 "		"299,333 "


      Total assets	"42,720,904 "		"43,075,487 "




LIABILITIES AND PARTNERS' CAPITAL

Liabilities:
   Accrued expenses	"11,383 "		"25,700 "

   Commissions payable	"178,272 "		"160,192 "

   Advisor's management fee payable	"155,327 "		"68,143 "

   Advisor's incentive fee payable	0 		0

   Redemptions payable	"202,751 "		"572,530 "

   Deferred Partnership offering proceeds	0 		0

   Selling and Offering Expenses Payable	0 		0


      Total liabilities	"547,733 "		"826,565 "



Partners' Capital:
"   Limited partners (25,318.49 and 25,905.20 units"

"     outstanding at 6/30/01 and 12/31/00, respectively)"	" 41,845,116 "
	"41,927,664 "
      (see Note 1)
   General partners (198.49 units outstanding

     at 6/30/01 and 12/31/00.)	" 328,055 "		"321,258 "

      (see Note 1)
      Total partners' capital	"42,173,171 "		"42,248,922 "


"      Total liabilities, minority interest,"

        and partners' capital	"$42,720,904 "		"$43,075,487 "



Net asset value per outstanding unit of Partnership

  interest	"$1,652.75 "		"$1,618.50 "


"This Statement of Financial Condition, in the opinion of management, reflects
all adjustments necessary"
to fairly state the financial condition of Everest Futures Fund. (See Note 6)




"EVEREST FUTURES FUND, L.P."
COMBINED STATEMENTS OF OPERATIONS

"For the period January 1, 2001 through June 30, 2001"

UNAUDITED

	"Apr 1, 2001"		"Jan 1, 2001"		"Apr 1, 2000"
	"Jan 1, 2000"
	through		through		through		through
	"Jun 30, 2001"		"Jun 30, 2001"		"Jun 30, 2000"
	"Jun 30, 2000"

<S>	<C>		<C>		<C>		<C>
REVENUES

Gains on trading of commodity futures

"  and forwards contracts, physical"

  commodities and related options:

  Realized gain (loss) on closed positions	"583,863 "		"6,221,182
"		"(372,720)"		"(7,364,136)"
   Change in unrealized trading gain (loss)

     on open contracts	"(3,544,690)"		"(4,779,005)"
	"(3,297,916)"		"(1,165,372)"
   Change in net unrealized gain (loss) on investments	"4,191 "
	"6,385 "		"(16,524)"		"30,972 "
   Net foreign currency translation gain (loss)	"(38,609)"		"43,948 "
	"(82,456)"		"(272,045)"
   Brokerage Commissions	"(659,574)"		"(1,286,464)"
	"(669,028)"		"(1,363,312)"

 Total trading income (loss)	"(3,654,819)"		"206,046 "
	"(4,438,645)"		"(10,133,893)"

"    Interest income, net of cash management fees"	"476,410 "
	"1,093,146 "		"630,229 "		"1,194,228 "

 Total income (loss)	"(3,178,409)"		"1,299,192 "
	"(3,808,416)"		"(8,939,665)"

General and administrative expenses

    Advisor's management fees	"159,574 "		"322,896 "		"433,281 "
	"878,907 "
    Advisor's incentive fees	0 		"29,399 "		0 		0

    Administrative expenses	"20,876 "		"30,435 "		"18,096 "
	"(3,730)"

  Total general and administrative expenses	"180,450 "		"382,730 "
	"451,376 "		"875,176 "

  Minority Interest	0 		0 		"39,174 "		"91,281 "


Net income (loss)	"(3,358,859)"		"916,462 "	 	"(4,220,618)"
	"(9,723,561)"


PROFIT (LOSS) PER UNIT OF
  PARTNERSHIP INTEREST	($128.90)		$34.25 		($151.95)
	($352.47)

	(see Note 1)		(see Note 1)
"This Statement of Operations, in the opinion of management, reflects all
adjustments "
necessary to fairly state the financial condition of Everest Futures Fund.
(See Note 6)





"EVEREST FUTURES FUND, LP"
COMBINED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL

"For the period January 1, 2001 through June 30, 2001"

UNAUDITED


			Limited		General
	Units*		Partners		Partners		Total

<S>	<C>		<C>		<C>		<C>
"Partners' capital at Jan 1, 2001"	"26,103.69 "		"41,927,664 "
	"$321,258 "		"$42,248,922 "

Net profit (loss)			"909,665 "		"6,797 "		"916,461 "


Additional Units Sold 	"1,026.49 "		"1,656,356 "		0
	"1,656,356 "
(see Note 1)
Redemptions (see Note 1)	"(1,613.19)"		"(2,648,568)"
	0 		"(2,648,568)"

"Partners' capital at June 30, 2001"	"25,516.98 "
	"$41,845,116 "		"$328,055 "		"$42,173,171 "


Net asset value per unit
"   January 1, 2001(see Note 1)"			"1,618.50 "		"1,618.50 "


Net profit (loss) per unit (see Note 1)			34.25 		34.25


Net asset value per unit
"   June 30, 2001"			"$1,652.75 "		"$1,652.75 "


* Units of Limited Partnership interest.


"This Statement of Changes in Partners' Capital, in the opinion of
management, reflects all"
adjustments necessary to fairly state the financial condition of Everest
Futures Fund. (See Note 6)


"EVEREST FUTURES FUND, LP"
COMBINED STATEMENTS OF CASH FLOWS

UNAUDITED



	"Jan 1, 2001"		"Jan 1, 2000"
	through 		through
	"Jun 30, 2001"		"Jun 30, 2000"

<S>	<C>		<C>

Net profit (loss)	"916,462 "		" (9,723,562)"

   Adjustments to reconcile net profit

     (loss) to net cash provided by

     (used in) operating activities:

   Change in assets and liabilities:

     Unrealized gain (loss) on open

       futures contracts	"4,779,005 "		" 1,165,372 "

     Interest receivable	"237,331 "		" 398,318 "

     Taxes Receivable	"36,445 "		 -
     Accrued liabilities	"90,947 "		" (12,940)"

     Redemptions payable	"(369,779)"		" (718,788)"

"     Investments, at fair value"	"11,130,202 "		" 2,246,563 "

     Deferred Offering Proceeds	0 		 -
     Selling and Offering Expenses Payable	0 		 687

    Change in Minority Interest			" (91,278)"


     Net cash provided by (used in)
       operating activities	"16,820,614 "		"(6,735,628)"


Cash flows from financing activities:

   Units Sold	"1,656,356 "		"14,043,699 "

   Partner redemptions	"(2,648,568)"		"(5,579,429)"



   Net cash provided by (used in)
     financing activities	"(992,213)"		"8,464,270 "


Net increase (decrease) in cash	"15,828,401 "		"1,728,642 "


Cash at beginning of period	"$23,379,564 "		"$21,692,642 "


Cash at end of period	"$39,207,965 "		"$23,421,284 "


"This Statement of Cash Flows, in the opinion of management, reflects all
adjustments "
necessary to fairly state the financial condition of Everest Futures Fund.
(See Note 6)

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