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                                                Filed Pursuant to Rule 424(b)(3)
                                                Registration No. 333-89507



                     PROFUTURES LONG/SHORT GROWTH FUND, L.P.
                        (A Delaware limited partnership)
                          September 25, 2000 Supplement
                                     to the
                        Prospectus Dated August 18, 2000


                  This Supplement updates certain information in the Prospectus
of ProFutures Long/Short Growth Fund, L.P. (the "Fund") dated August 18, 2000
(the "Prospectus") described under "The Adviser" under the subheading
"--Description of Trading Methods and Strategies" beginning on page 26 of the
Prospectus. Hampton Capital Management, Inc. ("Hampton"), the trading adviser to
the Fund, has decided to revise its Leverage 3 trading program such that instead
of having two types of long positions, +3 and +2, it will now only have one long
position, namely +3. Thus, the Leverage 3 trading program will have now three
possible positions: maximum leverage long (+3 leverage), neutral (100% cash) and
maximum leverage short (-3 leverage).

                  Further, Hampton has made additional refinements to its
trading program such that more of its indicators are required to be positive
before initiating a long position. Conversely, Hampton now requires fewer
negative indicators in order to move from a +3 position to a neutral position
(100% cash).

                  All information in the Prospectus is hereby restated, except
as supplemented hereby.

                  NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE
SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR PASSED
UPON THE ACCURACY OR ADEQUACY OF THIS PROSPECTUS SUPPLEMENT. ANY REPRESENTATION
TO THE CONTRARY IS A CRIMINAL OFFENSE.

                  THE COMMODITY FUTURES TRADING COMMISSION HAS NOT PASSED UPON
THE MERITS OF PARTICIPATING IN THIS POOL NOR HAS THE COMMISSION PASSED UPON THE
ADEQUACY OR ACCURACY OF THIS DISCLOSURE DOCUMENT SUPPLEMENT.